How To Trade Crypto with TradeStation?

TradeStation Crypto, an arm of the established online trading platform TradeStation, allows you to explore the exciting world of cryptocurrency derivatives. This article unpacks the essential details for beginners, guiding you through How To Trade Crypto With TradeStation, its mobile compatibility, trading interface specifics, and the fee structure.

Story Highlights

• Trade crypto derivatives on TradeStation Crypto, a beginner-friendly platform.
• Explore Bitcoin, Ethereum, Litecoin, and Bitcoin Cash CFDs with mobile app convenience.
• Skip overnight fees and earn interest on your crypto balance for a cost-effective trading experience.

Trading Crypto CFDs

Unlike traditional cryptocurrency exchanges where you buy and hold the actual digital coins, TradeStation Crypto focuses on CFDs (Contracts for Difference). CFDs track the price movement of an underlying asset, in this case, cryptocurrencies, without requiring ownership. This enables traders to speculate on price fluctuations without dealing with the complexities of cryptocurrency wallets and security.

Chart, analyze, execute, and manage your strategy with the enhanced TradeStation Mobile App. Enjoy advanced trading and complex order creation on any screen you like, including your iPad! #investing #financialfreedom

Learn more. https://t.co/5b5JR5EnvA pic.twitter.com/KJeKAxo8fw

— TradeStation (@TradeStation) February 8, 2024

Supported Cryptocurrencies

TradeStation Crypto offers CFDs on popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. This variety allows you to diversify your portfolio and capitalize on opportunities across different crypto sectors.

Trading on the Go

The platform understands that crypto markets move fast. To cater to this need, TradeStation Crypto provides mobile apps for both iPhone and Android users. This ensures you can stay on top of market movements and execute trades from your smartphone, offering flexibility and convenience.

Understanding the Trading View

Every exchange has a unique trading interface where you monitor markets and place orders. TradeStation Crypto offers various interfaces, but the “Day Trader” view is a good starting point. It typically displays an order book (a list of buy and sell orders), a price chart of the chosen CFD, and order history. Additionally, you’ll find buy and sell buttons for quick execution. Remember, the interface can be customized to suit your preferences.

Fee Structure:

Transaction fees are an inevitable part of trading. TradeStation Crypto charges a starting fee of 0.30% for both makers (adding liquidity) and takers (removing liquidity) on each trade. This is slightly higher than the global industry average. However, there are ways to bring down the cost. Fee reductions are offered for accounts exceeding specific balance thresholds.

Standing Out from the Crowd

One of TradeStation Crypto’s distinctive features is the absence of overnight fees. Unlike other platforms that charge for holding positions overnight, TradeStation Crypto doesn’t penalize you. They even go a step further by offering interest on your crypto balance, making it an attractive proposition for long-term investors.

Additional Considerations

TradeStation Crypto doesn’t levy inactivity fees, which is another plus for occasional traders. When it comes to withdrawals, the platform itself doesn’t charge any fees. However, you’ll encounter network fees, which are paid to miners who validate transactions on the blockchain network. These fees fluctuate based on network traffic.

Deposit Options

Currently, TradeStation Crypto allows deposits in various fiat currencies through wire transfers. Debit and credit card deposits are not yet available, so ensure you have alternative funding methods in place.

TradeStation Crypto offers a user-friendly platform for beginners to explore cryptocurrency derivatives trading. With support for popular cryptocurrencies, mobile apps, and competitive fee structures, it provides a solid foundation for your crypto trading journey. However, keep in mind the slightly higher starting fees and the lack of debit/credit card deposit options. By carefully considering these factors, you can decide if TradeStation Crypto aligns with your crypto trading goals.