HOW TO TRADE CRYPTO ON TRADESTATION ?

If you’ve been in the trading world for a while, you’ve likely come across TradeStation. But do you know you can now trade crypto on Tradestation? But How?

In order to trade crypto on Tradestation, you have to enter the amount of crypto in the Quick Trade Bar and press Buy or Sell button to buy crypto or sell your crypto. There are 4 more ways to trade crypto on Tradestation discussed in this post that will make you book a profit.

In this post, I will dive deep to explain to you different ways to trade crypto on Tradestation. But before that, I will give a brief overview of the Tradestation Crypto Platform, cryptocurrency support, pros, cons etc. Moreover, Is Tradestation a safe platform to trade cryptos?

TRADESTATION 

If you have been some while in the trading world, then you might come across Tradestation. But, if you are a beginner, the question arises.

What actually is tradestation?

Tradestation is a well established stock trading platform. It was created back in 1982. Originally Tradestation was created for active traders dealing with futures and option contracts.    

 Now it has become a full-fledged trading platform for 

• Stock
• ETFs
• Options 
• Futures 
• Future Options
• and now crypto currencies.

TRADESTATION CRYPTO PLATFORM

In 2019, TradeStation launched TradeStation Crypto as a separate platform. This platform  specifically was made for  cryptocurrency trading. 

If you’re familiar with the TradeStation interface, you’ll find TradeStation Crypto quite similar to its stock, etc platform. 

TradeStation Crypto accessible from both computers and smartphones. Apps are available for both iOS and Android users.

HOW TO TRADE CRYPTO ON TRADESTATION ?

Trading Cryptos in Tradestation is very simple and the user interface of both web and mobile platforms is very user friendly. 

You have to follow the following steps to trade crypto on TradeStation.

Step 1: Open a TradeStation Account

Step 2: Funding Your TradeStation Crypto Account

Step 3: Placing Order in Tradestation Crypto

But before that I will give you some basics on TradeStation Crypto Platform as listed below. If you know them, ust skip them.

• Cryptocurrency Or Tokens Supported By Tradestation Crypto Platform
• Cryptocurrency Pairs Supported By Tradestation Crypto
• Fees To Trade Crypto On Tradestation
• Is Tradestation  A Safe Platform To Trade Crypto?
• Device In Which You Can Trade Crypto On Tradestation

OPEN A TRADESTATION ACCOUNT

If you already have an account in Tradestation, you can skip this step.

To trade crypto on Tradestation, you have to have an account in Tradestation. Opening an account in Tradestation is very simple. The link below will explain to you the process of opening an account in Tradestation.

FUNDING YOUR TRADESTATION CRYPTO ACCOUNT

In order to buy or trade crypto in Tradestation, your Tradestation Crypto account needs to be funded. You can quickly fund your TradeStation Crypto account with USDC.

You have to directly convert USD in your Tradestation account into USDC without any fees. The conversion is 1: 1 i.e for every 1 USD you will get 1 USDC.

Now you can trade cryptos using USDC because it pairs with every cryptos. To know more about crypto pairing.   

PLACING ORDER IN TRADESTATION CRYPTO

In order to trade crypto in TradeStation you have to place an order to buy or sell your crypto asset. 

The most easy way to place an order is through the quick trade bar located at the upper right corner of your Tradestation Crypto platform. Just you have to place the amount of crypto and press the buy button to buy or sell button to sell and order will be placed. But to specify order type, limit price, Time in Force, etc, there is order form.

Please remember that you have to place a minimum order size known as tick size to successfully execute the order. The tick size against each crypto pair can be seen from here. 

There are also other ways to trade crypto on TradeStation as discussed in the next section.

DIFFERENT WAYS TO TRADE CRYPTO ON TRADESTATION

There are many ways to trade crypto on the Tradestation Crypto Platform. You can buy and sell crypto from the 

• Quick Trade Bar
• Order Form
• Symbol Selector List
• Dealing Panel
• Rates Panel

After placing your order, you can manage the order and see the status of your order.

CRYPTOCURRENCY OR TOKENS SUPPORTED BY TRADESTATION CRYPTO PLATFORM

Only a few popular cryptocurrency is supported by Tradestation. You can only trade the following cryptos in Tradestation.

• Bitcoin (BTC)
• Ethereum (ETC) 
• USD Coin (USDC)

Tradestation used to support many other cryptocurrency. But from July 21, 2023, the following cryptos was discontinued

• Aave (AAVE)
• Bitcoin Cash (BCH)
• Chainlink (LINK)
• Compound (COMP)
• Litecoin (LTC)
• Maker (MKR)
• Shiba Inu (SHIB)
• Ripple (XRP)
• Polygon (MATIC)

CRYPTOCURRENCY PAIRS SUPPORTED BY TRADESTATION CRYPTO

You might know crypto is always traded in pairs. So, crypto is always traded in pairs in Tradestation. 

Pair	Base	Quote	Minimum Order (Tick Size)
BTCUSD	BTC	USD	.01
ETHUSD	ETH	USD	.01
ETHBTC	ETH	BTC	.00001
USDCUSD	USDC	USD	.01
BTCUSDC	BTC	USDC	.01
ETHUSDC	ETH	USDC	.01

FEES TO TRADE CRYPTO ON TRADESTATION

To trade Crypto on Tradestation there are 2 types of Fees.

• Commissions / Fees
• Crypto Withdrawal Fees

But for IRA Account the following type of fees is charged

• Crypto Transaction Fees
• IRA Administration Fees

In the next section I will explain all the 3 types of fees in detail.

COMMISSIONS / FEES FOR TRADING CRYPTO ON TRADESTATION

The commission or fee Tradestation Crypto charges is based on the volume of transactions done in its platform in a day. So, 

Higher Volume of transaction in a day  = Lower Fees/commission

Lower Volume of transaction in a day  = Higher Fees/commission

The fees also vary based on time to market your crypto order. Basically, there are 2 types.

• Maker Fees
• Taker Fees

When your order is immediately marketable it is called taker fees and when it is not immediately marketable it’s known as maker fees.

In the next section, I will list the fees Tradestation Crypto charges.

COMMISSIONS / FEES LIST ON TRADESTATION CRYPTO

Volume Per Day in  TradeStation Crypto	Maker Fees (When Order is not immediately marketable)	Taker Fees (When Order is immediately marketable)
$0 – $1,000	$2 + 0.35% of Crypto Traded	$2 + 0.60% of Crypto Traded
$1,001 – $10,000	0.35% of Crypto Traded	0.45% of Crypto Traded
$10,001 – $50,000	0.20% of Crypto Traded	0.30% of Crypto Traded
$50,001 – $100,000	0.12% of Crypto Traded	0.25% of Crypto Traded
$100,001 – $1,000,000	0.10% of Crypto Traded	0.18% of Crypto Traded
$1,000,001 – $5,000,000	0.08% of Crypto Traded	0.15% of Crypto Traded
$5,000,001 – $10,000,000	0.05% of Crypto Traded	0.12% of Crypto Traded
$10,000,001 – $50,000,000	0.025% of Crypto Traded	0.11% of Crypto Traded

CRYPTO WITHDRAWAL FEES

If you wish to withdraw crypto from Tradestation, withdrawal fee will be charged in the form of cryptocurrency. The fee is listed below.

Cryptocurrency / Token	Withdrawal Fee(on any amount of crypto withdrawn)
Bitcon (BTC)	0.000075 BTC
Ethereum (ETH)	0.01 ETH
USD Coin (USDC)	20 UDSC

IRA CRYPTO TRANSACTION FEES

Using an IRA account, you can also trade crypto in Tradestation. But remember IRAs cannot accept deposits of cryptocurrencies and you may not withdraw cryptocurrency from your IRA.

Bitcon (BTC) and Ethereum (ETH)	$1 + 0.50%
USD Coin (USDC)	Free

IRA Service Fees are collected by TradeStation Securities and debited from the TradeStation Securities account. 

IRA ADMINISTRATION FEES

You will be charged the TradeStation IRA Crypto Administration Fee if you trade cryptocurrency in the IRA any time in the billing cycle.

Administration Fee

$100 per year

IS TRADESTATION  A SAFE PLATFORM TO TRADE CRYPTO?

Tradestation has been 4 decades in the world of trading. It has a solid track record and this extends to its crypto platform.

TradeStation Crypto does not have its own crypto wallet. They use a third party wallet called BitGo. BitGo wallet security is top class. It implements a multi-signature wallet structure that leverages dual-system controls, address whitelisting, spending limits and multiple wallets.

So, to say Tradestation is safe but there is risk in trading cryptocurrency. The risk of loss in purchasing, selling and trading cryptocurrency can be substantial. 

Please keep in mind that neither cryptocurrencies, nor any cash assets in your TradeStation Crypto account are covered by either FDIC or SIPC insurance.

DEVICE IN WHICH YOU CAN TRADE CRYPTO ON TRADESTATION

As of now you can trade crypto on Tradestation through the following platform.

• Desktop Application
• Web Trading through Browser
• Mobile App for both Apple and Android

PROS OF TRADING CRYPTO ON TRADESTATION

Tradestation has a solid track record of almost 4 decades for being a safe and secure platform. 

This applies to Tradestation crypto also.

Besides, Tradestation provides excellent customer support.

Moreover, they provide great learning materials and documents for you to trade crypto on Tradestation.

It is a great platform to trade bitcoin and ethereum

CONS OF TRADING CRYPTO ON TRADESTATION

The first cons of trading crypto on Tradestation is that it has a limited number of cryptocurrency. To list it has only 3 coins as other coins were discontinued.

Next cons is that Tradestation only provides hot wallet options. It stores all your cryptos in a third party wallet- BitGo. There is no option for a physical cold wallet.

FREQUENTLY ASKED QUESTIONS

ENDNOTES

So, now you have come to know it is very easy to trade cryptos on TradeStation. Apart from it, you have come to know the cryptocurrency you can trade on Tradestation, fees charges, system supported, etc

I have also explained why it is safe to trade cryptos on Tradestation. Moreover, you have come to know about the pros and cons of the Tradestation Crypto platform.

Do bookmark this page on how to trade crypto on TradeStation ? I will update more content now and then. Keep visiting metaversetroop.com for content related to metaverse, crypto, AI, VR and more.