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TradeStation vs Vanguard 2024

StockBrokers.com

Written by StockBrokers.com

October 30, 2024

In this head to head comparison of TradeStation vs Vanguard, we will compare the trading platforms, mobile apps, investment options, costs, market research, and more. Let's dive in.

TradeStation
4/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.60
Vanguard
4/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $1.00

Investment options

TradeStation and Vanguard are both highly rated online brokers, offering comprehensive investment options to cater to diverse investor needs. TradeStation ranks fifth among 18 brokers in investment options, boasting a stellar 4.5-star rating, matched by Vanguard's similar rating, although Vanguard is ranked ninth. Both platforms allow stock, margin, and mutual fund trading, and provide options trading, with Vanguard additionally offering advisor services. Despite their shared strengths, TradeStation stands out with futures trading capabilities, whereas Vanguard's edge is in its advisor services.

Both TradeStation and Vanguard offer a solid range of investment options, including stocks and mutual funds, and both allow margin and options trading. However, neither broker supports fractional shares or forex trading, and both are limited in crypto offerings, providing no coins for trade. While Vanguard does not offer futures trading, TradeStation fills this gap, appealing to investors interested in diversifying with futures contracts.

In terms of retirement planning, both TradeStation and Vanguard provide traditional and Roth IRA accounts. However, Vanguard extends its services further by offering advisor services, catering to investors seeking personalized investment guidance. Though each platform has distinctive strengths, they both cater well to investors looking for comprehensive market access, yet TradeStation expands this access with futures, and Vanguard enhances the investor experience with professional advice.

Feature TradeStation logoTradeStation
Vanguard logoVanguard
Stock Trading info Yes Yes
Margin Trading Yes Yes
Fractional Shares info No No info
OTC Stocks info Yes Yes
Mutual Funds info Yes Yes
Options Trading info Yes Yes
Futures Trading info Yes No
Crypto Trading info No No
Crypto Trading - Total Coins info 0 0
Investment Options 4.5/5 Stars 4.5/5 Stars

Dive deeper: Best Options Trading Platforms for 2024, Best Futures Trading Platforms for 2024

Trading platforms and tools

When it comes to trading platforms and tools, TradeStation significantly outpaces Vanguard in terms of offerings and capabilities. Rated 4.5 stars for its trading platform and tools, TradeStation is ranked #7 out of 18 brokers by StockBrokers.com, showcasing its robust capabilities. In contrast, Vanguard earns a modest 2.5 stars and holds the #18 position, reflecting a more basic platform geared toward simplified trading experiences.

TradeStation provides a Windows desktop downloadable trading platform, a feature Vanguard lacks. Both brokers support browser-based trading, but TradeStation offers exclusive features like paper trading and the ability to adjust open orders directly on a stock chart. TradeStation also shines in charting capabilities with 294 technical indicators and 23 drawing tools, compared to Vanguard's 9 indicators and lack of any drawing tools. Advanced functionalities such as adding notes to charts, showing historical trades, and setting custom date ranges further establish TradeStation's superior platform.

TradeStation allows customization and creation of custom studies for charts, alongside multiple chart profiles, while Vanguard does not offer these features. The ability to save multiple chart profiles, automate technical analysis, and outpace Vanguard on fields for watch lists (341 to 9) underscores TradeStation’s comprehensive suite for traders who value functionality and in-depth market analysis. Both platforms allow display of corporate events and index overlays on charts, yet Vanguard’s basic offerings pale in comparison to TradeStation’s feature-rich environment.

Feature TradeStation logoTradeStation
Vanguard logoVanguard
Web Trading Platform info Yes Yes
Desktop Trading Platform info Yes No
Desktop Platform (Mac) info No No
Paper Trading info Yes No
Watch Lists - Total Fields info 341 9
Charting - Indicators / Studies info 294 9
Charting - Drawing Tools info 23 0
Platforms & Tools 4.5/5 Stars 2.5/5 Stars

Dive deeper: Best Stock Brokers & Trading Platforms for 2024, Best Paper Trading Platforms for 2024

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Beginners and education

When comparing the beginner and investor education capabilities of online brokers TradeStation and Vanguard, both platforms offer a range of educational resources but vary in their specialization areas. TradeStation provides stock and options education, along with useful tools like paper trading and a series of webinars, making it an enticing option for those interested in active trading strategies. Additionally, TradeStation supports learning with educational videos, yet it lacks tutorials for ETFs, mutual funds, and bonds, which could limit its appeal for diversified investors. Vanguard also delivers stock education and supports users with educational videos, though its offerings are more conservative, primarily omitting resources like options education and paper trading. For those focused on webinars, TradeStation goes a step further by including this interactive format, whereas Vanguard does not provide this option.

While both brokers score equally with a 3.5-star rating for education, TradeStation ranks slightly higher at #11 compared to Vanguard’s #13 in StockBrokers.com's list of 18 brokers. Neither platform offers educational quizzes or the ability to track learning progress, showing room for improvement in engagement and user experience. Overall, both TradeStation and Vanguard equip investors with foundational knowledge through their educational videos, but differ in their approach; TradeStation targets active traders with a broader focus on options and interactive features, while Vanguard remains streamlined, focusing on its core investment offerings without diverging into advanced instruments or formats.

Feature TradeStation logoTradeStation
Vanguard logoVanguard
Education (Stocks) info Yes Yes
Education (ETFs) info No No
Education (Options) info Yes No
Education (Mutual Funds) info No No
Education (Bonds) info No No
Paper Trading info Yes No
Videos info Yes Yes
Webinars info Yes No
Education 3.5/5 Stars 3.5/5 Stars

Dive deeper: Best Stock Trading Platforms for Beginners of 2024

Stock trading apps

When comparing the stock trading app capabilities of TradeStation and Vanguard, TradeStation clearly leads the way with a 4.5-star rating and an eighth-place ranking by StockBrokers.com, whereas Vanguard trails with a 3-star rating and the last position among 18 brokers. TradeStation offers a robust and versatile platform with features such as mobile after-hours trading, options trading, and a multitude of customizations including custom watch lists, watch list column adjustments, and access to 45 technical studies for charting. In contrast, Vanguard's app lacks many of these advanced features, offering no options trading, streaming quotes, or technical studies, limiting its appeal for traders seeking comprehensive tools.

Both TradeStation and Vanguard provide iPhone and Android apps, ensuring accessibility across major mobile devices, though neither offer an Apple Watch app. One distinct feature where TradeStation surpasses Vanguard is the provision of stock alerts, enabling traders to stay informed and agile in fast-paced markets. Vanguard, on the other hand, fails to offer this critical function, potentially leaving users at a disadvantage when it comes to making timely trading decisions.

For chart enthusiasts, TradeStation is again the superior choice with support for viewing multiple time frames and after-hours charting, albeit lacking landscape mode. Vanguard only matches the capability of viewing multiple time frames, offering no further enhancements for charting. Additionally, neither platform offers streaming live TV, videos on demand, or the ability to display stock comparisons on charts. Overall, TradeStation delivers a more comprehensive and feature-rich experience for active traders, making it a preferable choice over Vanguard for stock trading app functionalities.

Feature TradeStation logoTradeStation
Vanguard logoVanguard
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No No
Stock Alerts info Yes No
Charting - After-Hours info Yes No
Charting - Technical Studies info 45 0
Mobile Trading Apps 4.5/5 Stars 3/5 Stars

Dive deeper: Best Stock Trading Apps for 2024

Fees

In comparing TradeStation and Vanguard for account fees and charges, Vanguard generally offers a cost-effective structure for individual investors. Both platforms provide commission-free trading for regular stock trades and require no minimum deposit, making them accessible options for most traders. However, Vanguard significantly outperforms TradeStation in terms of IRA fees, options exercises, and assignment fees, offering these services at no charge, whereas TradeStation imposes various fees.

For options trading, TradeStation charges $0.60 per contract compared to Vanguard's $1.00, potentially appealing for options traders looking to optimize costs. When it comes to margin interest rates, TradeStation offers slightly lower rates across various balance tiers. Under $25,000, TradeStation charges 13.0%, while Vanguard charges 13.75%. For balances between $25,000 and $49,999, TradeStation’s rate is again 13.0% compared to Vanguard’s 13.25%. In the $50,000 to $99,999 range, TradeStation charges 12.5% compared to Vanguard’s 12.75%. These differences can translate into significant savings for margin traders.

TradeStation's fees can add up for specific services like IRA management, account transfers, and options-related fees. While TradeStation charges $35.00 annually for IRAs and $50.00 for IRA closures, Vanguard holds a $25.00 annual fee and $0.00 for closures or assignments. Notably, TradeStation imposes a $125.00 fee for both partial and full account transfers, while Vanguard only charges $100.00 for full transfers and offers free partial transfers. As such, cost-conscious investors may prefer Vanguard's platform for comprehensive savings across various hidden fees and charges.

Feature TradeStation logoTradeStation
Vanguard logoVanguard
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Options (Per Contract) $0.60 $1.00
Options Exercise Fee $14.95 $0.00
Options Assignment Fee $5.95 $0.00
IRA Annual Fee $35.00 $25.00 info
IRA Closure Fee $50.00 $0.00
Commissions & Fees 4.5/5 Stars 4.5/5 Stars

Dive deeper: Best Free Trading Platforms for 2024

Day Trading

When it comes to day trading capabilities, TradeStation clearly outperforms Vanguard by offering a comprehensive suite of tools tailored for the active trader. TradeStation provides essential features such as streaming time and sales, direct market routing, and ladder trading, none of which are available with Vanguard. Additionally, TradeStation supports trading hotkeys for quick trade entries and delivers level 2 quotes, which are absent from Vanguard's offerings.

Further enhancing its appeal to day traders, TradeStation includes both basic and advanced strategy backtesting, as well as a short locator tool for real-time share availability. Vanguard, on the other hand, does not support these features, making it less suited to the rapid demands of day trading. Moreover, TradeStation offers order liquidity (maker/taker) rebates, providing further incentives for active traders, whereas Vanguard does not extend such benefits. For active day traders seeking advanced tools and features, TradeStation proves to be the superior choice.

Feature TradeStation logoTradeStation
Vanguard logoVanguard
Streaming Time & Sales info Yes No
Streaming TV info No No
Direct Market Routing - Stocks info Yes No
Level 2 Quotes - Stocks info Yes No
Trade Ideas - Backtesting info Yes No
Trade Ideas - Backtesting Adv info Yes No
Short Locator info Yes No

Dive deeper: Best Day Trading Platforms for 2024

Market Research

In comparing TradeStation and Vanguard for their market research capabilities, both platforms offer strengths and unique features tailored to different investor needs. TradeStation excels in providing detailed stock and ETF research as well as extensive tools for analyzing Pink Sheets and OTCBB markets. However, it lacks in-depth mutual funds and bonds research and does not provide downloadable research reports or advanced features like ESG or social media sentiment analysis. On the other hand, Vanguard offers comprehensive research options for stock, ETF, mutual funds, and bonds, backed by its ability to generate downloadable PDF research reports for stocks. It also provides a more robust suite of screeners across various asset types, enhancing its user-friendly appeal for novice and seasoned investors alike.

While both TradeStation and Vanguard offer the ability to see portfolio allocation by asset class, neither provides insights using social media sentiment data or ESG research capabilities, which reflects a shared limitation in diversifying research methodologies. Additionally, when it comes to downloadable research reports, Vanguard has a slight edge by offering two PDF research reports for stocks, albeit with none available for ETFs or mutual funds, paralleling TradeStation’s offerings in this regard. Investors seeking trade ideas can find stock screeners on both platforms, though Vanguard extends these capabilities to ETFs, mutual funds, and bonds, whereas TradeStation limits its screening functionalities to just stocks.

TradeStation and Vanguard receive comparable ratings for market research, with TradeStation earning three stars and Vanguard slightly outperforming at 3.5 stars, reflecting a marginal preference for Vanguard among experts and users. In rankings by StockBrokers.com, Vanguard is positioned at #9 out of 18 brokers, indicating a marginally higher reputation in market research strength compared to TradeStation, which is ranked at #10. This assessment positions Vanguard as a slightly more favorable option for investors who prioritize a broader scope of market research capabilities, although both platforms cater efficiently to various investment styles and requirements.

Feature TradeStation logoTradeStation
Vanguard logoVanguard
Research - Stocks info Yes Yes
Screener - Stocks info Yes Yes
Research - ETFs info Yes Yes
Screener - ETFs info No Yes
Research - Mutual Funds info No Yes
Screener - Mutual Funds info No Yes
Research - Bonds info No Yes
Screener - Bonds info No Yes
Research 3/5 Stars 3.5/5 Stars

Banking

When comparing the banking capabilities of online brokers TradeStation and Vanguard, it is clear that both platforms have limited offerings in traditional banking services. TradeStation does not provide checking or savings accounts, debit or credit cards, mortgage loans, or certificates of deposit (CDs). Similarly, Vanguard lacks options for checking and savings accounts, as well as debit and credit cards, and mortgage loans. However, unlike TradeStation, Vanguard does offer certificates of deposit (CDs), providing a slight edge in banking services. This distinction may be a consideration for those seeking a more comprehensive financial offering alongside investment services.

Feature TradeStation logoTradeStation
Vanguard logoVanguard
Checking Accounts info No No
Savings Accounts info No No
Debit Cards info No No
Credit Cards info No No
Mortgage Loans info No No
CDs info No Yes

Dive deeper: Best Bank Accounts for Trading Stocks for 2024

Winner

After opening live accounts and testing 18 of the best online brokers, our research and live account testing finds that TradeStation is better than Vanguard. TradeStation finished with an overall score of 81.7%, while Vanguard finished with a score of 80.3%.

TradeStation supports casual traders through its web-based platform and active traders through its desktop platform. We like the web-based platform and mobile app, but the flagship desktop platform could use a refresh.

FAQs

Can you trade cryptocurrency with TradeStation or Vanguard?

Both TradeStation and Vanguard do not offer crypto trading and provide zero coins for cryptocurrency trading options, making them equally unavailable for those interested in digital asset investments.

Dive deeper: Best Online Brokers for Crypto Trading in 2024

Does TradeStation or Vanguard offer IRAs?

TradeStation and Vanguard both offer traditional and Roth IRA accounts, with Vanguard charging a lower annual fee of $25 compared to TradeStation's $35; however, TradeStation imposes a $50 closure fee for IRA accounts, whereas Vanguard does not charge any closure fees.

Dive deeper: Best IRA Accounts for 2024

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Compare

0 of 5
Overall Rating TradeStation Vanguard
Overall 4/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 4.5/5 Stars
Platforms & Tools 4.5/5 Stars 2.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 3/5 Stars
Research 3/5 Stars 3.5/5 Stars
Customer Service 3.5/5 Stars 3/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Ease Of Use 3.5/5 Stars 5/5 Stars
Winner check_circle
Review TradeStation Review Vanguard Review
Broker Screenshots TradeStation Vanguard
Trading Platform & Tools Gallery (click to expand)
Research Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education Gallery (click to expand)
Trading Fees TradeStation Vanguard
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) info $0.01 info $0.00
Mutual Fund Trade Fee $14.95 Varies info
Options (Per Contract) $0.60 $1.00
Futures (Per Contract) $1.50 (Not offered)
Broker Assisted Trade Fee $25 $25 info
Margin Rates TradeStation Vanguard
Margin Rate Under $25,000 13.0% 13.75% info
Margin Rate $25,000 to $49,999.99 13.0% 13.25%
Margin Rate $50,000 to $99,999.99 12.5% 12.75%
Margin Rate $100,000 to $249,999.99 12.0% 12.25%
Margin Rate $250,000 to $499,999.99 12.0% 11.75%
Margin Rate $500,000 to $999,999.99 7.5% info 10.5%
Margin Rate Above $1,000,000 7.5% info Varies info
Account Fees TradeStation Vanguard
IRA Annual Fee $35.00 $25.00 info
IRA Closure Fee $50.00 $0.00
Account Transfer Out (Partial) info $125.00 $0.00
Account Transfer Out (Full) info $125.00 $100.00 info
Options Exercise Fee $14.95 $0.00
Options Assignment Fee $5.95 $0.00
Investment Options TradeStation Vanguard
Stock Trading info Yes Yes
Margin Trading Yes Yes
Fractional Shares info No No info
OTC Stocks info Yes Yes
Options Trading info Yes Yes
Complex Options Max Legs info 4 4
Futures Trading info Yes No
Forex Trading info No No
Crypto Trading info No No
Crypto Trading - Total Coins info 0 0
Mutual Funds (No Load) info 800 N/A
Mutual Funds (Total) info 4000 N/A
Bonds (US Treasury) info Yes Yes
Bonds (Corporate) info Yes Yes
Bonds (Municipal) info Yes Yes
Traditional IRAs info Yes Yes
Roth IRAs info Yes Yes
Advisor Services info No Yes
International Countries (Stocks) info 0 0
Order Types TradeStation Vanguard
Order Type - Market info Yes Yes
Order Type - Limit info Yes Yes
Order Type - After Hours info Yes Yes
Order Type - Stop info Yes Yes
Order Type - Trailing Stop info Yes No
Order Type - OCO info Yes No
Order Type - OTO info Yes No
Order Type - Broker Assisted info Yes Yes
Beginners TradeStation Vanguard
Education (Stocks) info Yes Yes
Education (ETFs) info No No
Education (Options) info Yes No
Education (Mutual Funds) info No No
Education (Bonds) info No No
Education (Retirement) info No Yes
Retirement Calculator info No Yes
Investor Dictionary info No No
Paper Trading info Yes No
Videos info Yes Yes
Webinars info Yes No
Webinars (Archived) info Yes No
Progress Tracking info No No
Interactive Learning - Quizzes info No No
Stock Trading Apps TradeStation Vanguard
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No No
Trading - Stocks info Yes Yes
Trading - After-Hours info Yes No
Trading - Simple Options info Yes No
Trading - Complex Options info Yes No
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info Yes No
Stock App Features TradeStation Vanguard
Market Movers (Top Gainers) info Yes No
Stream Live TV info No No
Videos on Demand info No No
Stock Alerts info Yes No
Option Chains Viewable info Yes No
Watch List (Real-time) info Yes No
Watch List (Streaming) info Yes No
Watch Lists - Create & Manage info Yes No
Watch Lists - Column Customization info Yes No
Stock App Charting TradeStation Vanguard
Charting - After-Hours info Yes No
Charting - Can Turn Horizontally info No No
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 45 0
Charting - Study Customizations info Yes No
Charting - Stock Comparisons info No No
Trading Platforms TradeStation Vanguard
Active Trading Platform info TradeStation 10 N/A
Desktop Trading Platform info Yes No
Desktop Platform (Mac) info No No
Web Trading Platform info Yes Yes
Paper Trading info Yes No
Trade Journal info No No
Watch Lists - Total Fields info 341 9
Stock Chart Features TradeStation Vanguard
Charting - Adjust Trades on Chart info Yes No
Charting - Indicators / Studies info 294 9
Charting - Drawing Tools info 23 0
Charting - Notes info Yes No
Charting - Index Overlays info Yes Yes
Charting - Historical Trades info Yes No
Charting - Corporate Events info Yes Yes
Charting - Custom Date Range info Yes No
Charting - Custom Time Bars info Yes No
Charting - Automated Analysis info Yes No
Charting - Save Profiles info Yes No
Trade Ideas - Technical Analysis info Yes No
Charting - Study Customizations info 12 1
Charting - Custom Studies info Yes No
Day Trading TradeStation Vanguard
Streaming Time & Sales info Yes No
Streaming TV info No No
Direct Market Routing - Stocks info Yes No
Ladder Trading info Yes No
Trade Hotkeys info Yes No
Level 2 Quotes - Stocks info Yes No
Trade Ideas - Backtesting info Yes No
Trade Ideas - Backtesting Adv info Yes No
Short Locator info Yes No
Order Liquidity Rebates info Yes No
Research Overview TradeStation Vanguard
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info No Yes
Research - Pink Sheets / OTCBB info Yes Yes
Research - Bonds info No Yes
Screener - Stocks info Yes Yes
Screener - ETFs info No Yes
Screener - Mutual Funds info No Yes
Screener - Bonds info No Yes
Misc - Portfolio Allocation info Yes Yes
Stock Research TradeStation Vanguard
Stock Research - PDF Reports info 0 2
Stock Research - Earnings info No Yes
Stock Research - Insiders info No No
Stock Research - Social info No No
Stock Research - News info Yes Yes
Stock Research - ESG info No No
Stock Research - SEC Filings info No No
ETF Research TradeStation Vanguard
ETFs - Strategy Overview info No No
ETF Fund Facts - Inception Date info No No
ETF Fund Facts - Expense Ratio info No No
ETF Fund Facts - Net Assets info No No
ETF Fund Facts - Total Holdings info No No
ETFs - Top 10 Holdings info No No
ETFs - Sector Exposure info No No
ETFs - Risk Analysis info No No
ETFs - Ratings info No No
ETFs - Morningstar StyleMap info No No
ETFs - PDF Reports info No No
Mutual Fund Research TradeStation Vanguard
Mutual Funds - Strategy Overview info No Yes
Mutual Funds - Performance Chart info No Yes
Mutual Funds - Performance Analysis info No Yes
Mutual Funds - Prospectus info No Yes
Mutual Funds - 3rd Party Ratings info Yes No
Mutual Funds - Fees Breakdown info No Yes
Mutual Funds - Top 10 Holdings info No Yes
Mutual Funds - Asset Allocation info No No
Mutual Funds - Sector Allocation info No Yes
Mutual Funds - Country Allocation info No No
Mutual Funds - StyleMap info No Yes
Options Trading TradeStation Vanguard
Option Chains - Basic View info Yes Yes
Option Chains - Strategy View info Yes No
Option Chains - Streaming info Yes No
Option Chains - Total Columns info 29 9
Option Chains - Greeks info 5 0
Option Chains - Quick Analysis info Yes No
Option Analysis - P&L Charts info Yes No
Option Probability Analysis info Yes No
Option Probability Analysis Adv info Yes No
Option Positions - Greeks info Yes No
Option Positions - Greeks Streaming info Yes No
Option Positions - Adv Analysis info Yes No
Option Positions - Rolling info Yes No
Option Positions - Grouping info Yes No
Banking TradeStation Vanguard
Bank (Member FDIC) info No No
Checking Accounts info No No
Savings Accounts info No No
Credit Cards info No No
Debit Cards info No No
Mortgage Loans info No No
Customer Service TradeStation Vanguard
Phone Support (Prospect Customers) info Yes Yes
Phone Support (Current Customers) info Yes Yes
Email Support info Yes Yes
Live Chat (Prospect Customers) info Yes No
Live Chat (Current Customers) info Yes No
24/7 Support info No No
Overall TradeStation Vanguard
Overall 4/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 4.5/5 Stars
Platforms & Tools 4.5/5 Stars 2.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 3/5 Stars
Research 3/5 Stars 3.5/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Ease Of Use 3.5/5 Stars 5/5 Stars
Winner check_circle
Review TradeStation Review Vanguard Review
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