MetaStock vs. TradeStation

MetaStock vs. TradeStation

MetaStock vs. TradeStation

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If you would like to urge serious about trading, you would like to take a position during a stock analysis software. Stock analysis software can assist you find out how to spot and adapt to plug trends, backtest strategies to look at success rates and style comprehensive trade or investing plans.

While stock analysis software won’t turn you into a moment pro, it'll assist you incorporate science and logic into trading. As a result, you’re less likely to rely on emotions like hunches, guesses or fear to make trades, improving your odds of success.

MetaStock and TradeStation offer a number of the foremost advanced stock analysis software and tools on the market. Understanding the services each company offers can help you invest in the right stock software for your needs, making you a better trader and increasing your chances of success.

MetaStock is a charting software tool that aims to take the guesswork out of trading. MetaStock’s software analyzes stock markets at the sector, industry group and security level, providing traders with a systematic approach for trading securities such as stocks, options, commodities, forex and futures. Founded in 1982, MetaStock’s platform not only provides market analyses, but also allows private and professional traders to access dozens of stock exchanges across international markets.

In short, MetaStock is a superb tool for self-directed traders of all levels who want access to real-time news and high-quality technical analysis.

Who is TradeStation for?

Founded in 1991, TradeStation historically catered solely to financial professionals like stockbrokers or money managers. In recent years, TradeStation began broadening its clientele to include private traders as well. TradeStation offers a free desktop platform filled with stock-trading tools such as customized trading strategies, backtesting and paper trading. Additionally, TradeStation reduced both minimum investments and trading costs to $0, making it more appealing and accessible to regular investors looking to seriously invest.

While TradeStation offers traders multiple platforms for trading securities, TradeStation does not trade forex. Check out this Benzinga article to learn more about forex trading and the popular forex trading platform FOREX.com.

Put simply, TradeStation is best for active and advanced traders wanting to trade stocks, options, futures and cryptocurrency.

MetaStock’s most popular software platforms are MetaStock, MetaStock Pro and XENITH. In addition to purchasing software, you have the option to purchase additional subscriptions and add-ons, allowing you to customize your research and analyses.

Below are a couple of of MetaStock’s hottest software, subscriptions, add-ons and its fees.

InstrumentFeesMetaStock D/C$499MetaStock DataLink All-Regions Subscription$1,369/yearMetaStock Pro$1,395MetaStock Pro Subscription$1,080/yearXENITH$1,620/yearXENITH New York Stock Exchange Add-On$3.57/year

While MetaStock’s fees may look high at first glance, there also are no additional hidden fees such as per-trade fees. What you see is what you get. Additionally, your ability to customize your subscriptions and add-ons can give you a significant advantage as you trade across markets.

TradeStation Fees and Commissions

Unlike MetaStock, TradeStation’s software is free. However, TradeStation charges a $10 surcharge per trade along with per contract and per side fees. In Fall 2019, TradeStation introduced 2 new pricing plans: TS SELECT and TS GO. Both plans feature commission-free trades, but include per-contract fees that vary by asset class.

Below are some commonly traded assets and its fees under TradeStation’s new pricing plans.

AssetTS SELECTTS GOStocks and ETFs$0 commission$0 commission Stock Options$0 commission+ $0.60 per contract$0 commission+ $0.50 per contractFutures$0 commission+ $1.50 per contract, per side$0 commission+ $0.85 per contract, per sideFutures Options$0 commission+ $1.50 per contract, per side$0 commission+ $1.50 per contract, per side

While TradeStation’s promise of a free desktop platform and $0 commissions is sort of appealing, the $2,000 minimum investment for TS SELECT and per contract or per side fees require substantial trades to offset those costs.

MetaStock’s software offers a number of tools called PowerTools. PowerTools provides professional analyses to private traders. You can either use PowerTool’s pre-built systems to determine patterns in the stock market or create your own system to find a specific pattern of your design.

Within PowerTools you’ll find: PowerToolFunctionExplorerScans the market to filter and type securitiesShows buy and sells signals supported your criteriaSystems TesterAllows you to backtest your strategies to ascertain how it would have performed over timeExpert AdvisorGenerates buy or sell signals based on your system’s selected criteriaFORECASTERUses technology to help you see a clearer picture of the futureSets more precise stops and profit targetsXENITHA professional level system that provides real-time news, data and analysisDesigned to work with MetaStock Pro

MetaStock’s PowerTools allow you to analyze and rank thousands of securities, back-test multiple strategies, gain insights from industry experts and design your own criteria.

TradeStation Research Offerings

TradeStation’s desktop platform provides access to a range of research tools designed to enhance your trading expertise.

Some of TradeStation’s popular features are: TradeStation’s Desktop ToolFunctionEasyLanguageDesign customized indicators and trading strategies using English-like statements.RadarScreenContinuously monitor and rank up to 1,000 symbols in real-time based on more than 180 customizable technical and fundamental indicators.Create virtually unlimited amounts of your own custom criteria.Strategy Back-TestingBack-test, optimize and fully automate trade ideas across any stock or future with decades of historical market data.MatrixCombine a detailed market-depth window, a highly advanced order-entry tool and a precise order-tracking system into one view.OptionStation ProAccess visual options chains that highlight your strategy’s probability to break even across a series of expirations.Simulated Trading ModeDesign and test your trading plan, hone your trading skills and execute simulated demo trades with high-quality market data.

Though TradeStation has invested a lot into attracting private investors, its platform and features remain geared toward active, technical traders.

Both MetaStock and TradeStation offer world-class stock analysis software and customizable tools that can help you become a more successful trader. So, how do you know which stock analysis software is better for you? It depends on what sort of trader you're .

Trade station software is high quality but quite technical. MetaStock software is user friendly and accessible to traders of all levels. Bottom line: If you are a serious trader for technical trade, TradeStation may be the best bet for you. If this is not your business style, however, meta-stock is the best option for you. May fit better.

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