Trading more should never mean paying more
Our pricing is designed to empower active traders to test, tinker, and discover the strategies that work for them, without penalizing exploration and experimentation. Unlock lower prices as your monthly trade volume grows and transparent tiers that give you the flexibility to trade your way.
Your tier is updated during the month when you surpass a volume threshold and applies to the following month. For example, if you trade 1,000,002 shares by August 10, you will be upgraded to Tier 3 for the remainder of August and September. If your trading volume falls below 1,000,000 in September, you will be downgraded in October. Each asset class has its own tiers and your activity in one asset doesn’t apply to others.
Leverage your assets and increase your buying power with our competitive equities margin interest rates. Active traders can get rates as low as 4.25%.
Margin interest rates1
Less than $50,000 | $50,000 – $499,999 | $500,000+2 | $2,000,000+2 |
|---|---|---|---|
11.75% | 10.75% | 6.25%* | 4.25% |
Margin requirements
Position | Margin accounts2 | Cash accounts | ||
|---|---|---|---|---|
Intraday3 | Overnight | |||
Long stock | Buy stock or ETF | 25% value of the position | 50% value of the position | 100% cost of the position |
Short stock | Sell short stock or ETF | 30% value of the position | 50% value of the position | Not available |
- Margin interest rates vary per the base rate and the size of the debit balance. The base rate may be adjusted at TradeStation’s discretion concerning commercially recognized interest rates, current market trends, liquidity in the marketplace, and other industry conditions, and is subject to change without prior notice.
- Margin balances between $500k-$1,999,999 will default to an effective rate of 6.25% and margin balances greater than $2,000,000 will default to an effective rate of 4.25%.
- Intraday trading requires that certain levels of equity be deposited and maintained in a margin account, and that these levels be sufficient to support the risks associated with intraday trading activities. Learn more here: https://www.finra.org/investors/insights/intraday-margin-requirements
Intraday buying power: Day trading in a margin account is governed by your real-time margin equity and margin excess. Margin equity equals long market value minus short market value, plus or minus cash balance. Margin excess is the equity remaining after all regulatory and house margin requirements are met.
If your margin equity is at or above $2,000, your account has access to intraday buying power equal to four times your margin excess, and overnight buying power equal to two times your margin excess. If your margin equity falls below $2,000, your account is limited to intraday and overnight buying power equal to one times your margin excess until equity is restored.
Intraday buying power is intended for positions opened and closed within the same trading session. Positions carried past market close are subject to overnight buying power. Accounts holding overnight positions in excess of their overnight buying power may receive a margin call.
Intraday buying power updates in real time. Approved cash deposits, sales of overnight positions, and changes in the market value of open positions all affect available buying power throughout the trading day.
Margin requirements are structured for a diversified portfolio. Accounts that are using margin for holding concentrated positions may be asked to make immediate changes.
Special Margin Requirements: Due to low liquidity, volatility, or other conditions, some stocks and ETFs may have a special margin requirement. You can view a list of these symbols here: https://my.tradestation.com/lists/borrow-special-margin.
A minimum of $2,000 is required to open and maintain a position on margin, and a minimum of $2,000 is required to open and maintain a short stock position.
Please contact us for information about TradeStation Securities margin requirements and concentration parameters.
Margin trading involves risks, and it is important that you fully understand those risks before trading on margin. The FINRA Margin Disclosure Statement outlines many of those risks, including:
- You can lose more funds than you deposit in your margin account.
- Your brokerage firm can force the sale of securities in your account.
- Your brokerage firm can sell your securities without contacting you.
- You are not entitled to an extension of time on a margin call.
Review the Margin Disclosure Statement and the Margin Lending Program Rates Disclosure Statement.
TradeStation Securities will pay interest on cash balances
TradeStation Securities will pay interest on free credit balances (“cash balances”) over $100,000 in non-IRA securities and futures accounts (the “minimum threshold”). The annual percentage interest rate is 0.15%. Customers with cash balances of at least $500,000 may contact customer service to discuss a custom annual interest rate based on their needs and trading style (the “negotiated threshold”). The interest is calculated using the posted annual percentage interest rate prorated for the number of days the cash balance remains above the minimum threshold or the negotiated threshold. Interest will not be paid for days the balance is below the minimum threshold or negotiated threshold. Interest is paid out monthly on either the last business day of the month or the first business day following the end of the previous month. TradeStation reserves the right to right to modify or end the program at any time.
Market data pricing
Certain basic market data is available at no charge to non-professional subscribers. Additional market data fees may apply for added markets. For additional information, please review our Market Data Pricing page.
Important information
Commission tiers at TradeStation are determined based on your cumulative monthly trading volume for each asset class (equities, options, and futures). Each asset class is evaluated separately, and your commission tier may differ by asset class. For example, you could be tier 2 for equities but tier 1 for options. At the start of each month, your commission tier is set to the highest level reached during the previous month and is reviewed daily. If your trading activity moves you into a higher tier during the current month, your lower rate will take effect the next trading session. Futures and futures options traded through the FuturesPlus platform, sub-dollar and non-NMS trades, including most OTC trades, as well as third-party, direct-routed, delegated, or externally executed trades are excluded from tier-volume calculations and applicable commission tiers. Additional commissions and fees may apply to FuturesPlus platform trades, sub-dollar and non-NMS trades, including most OTC trades; direct-routed, delegated, or externally executed trades, as well as certain trades depending on asset type, routing method, and account status; direct routing, clearing and international tickets; and market data and premium services. Trades executed through non-TradeStation applications may be subject to custom pricing. For more details on applicable charges, please consult our online Fee Schedule or contact the Client Experience team.TradeStation may modify commissions and fees at any time.
*For exchange-traded equities orders which are executed below $1.00 per share, and for all OTC equities executions, the commission charge will be $0.005 per share, with a minimum commission charge of $1.00 per executed order and a maximum commission charge of $50.00 per executed order, both of which are subject to a cap of 5% of the notional value of the executed order. The execution of any direct-routed equity order will incur an additional commission charge of $0.005 per share.
*Traded through the FuturesPlus platform. Standard exchange, regulatory, and overnight fees may apply. For more information about trading futures options on FuturesPlus, please contact us.
TradeStation Desktop Platform: You must use the TradeStation Desktop platform to receive RadarScreen®, OptionStation® Pro, Portfolio Maestro, TradeStation Scanner, Easy Language®, Strategy Back-testing, the full Matrix.
For additional information, please review our stocks & ETFs pricing disclosures, options pricing disclosures and futures pricing disclosures.
Other Fees and Charges: Other fees and charges may apply. For additional information, please visit our exchange execution and clearing fees section.
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