Tradestation does not offer an Islamic account for Muslim traders who follow the Sharia law. Tradestation currently holds no information about a swap-free account for Muslim traders on their website.
Tradestation at a glance
| Broker's Name | TradeStation |
| 📍 Headquartered | Plantation, Florida |
| 📅 Year Founded | 1982 |
| ⚖️ Regulating Authorities | FINRA, SEC |
| 🌐 Countries not accepted for trade | None |
| ☪️ Islamic account (swap-free) | No |
| 👍 Demo Account | No |
| 📊 Institutional Accounts | Yes |
| 📊 Managed Accounts | Yes |
| 🚀 Sign up bonus | Yes |
| 📈 Maximum Leverage | Leverage is often mentioned but no ratio is ever indicated |
| 💰 Minimum Deposit | $0 |
| 💳 Deposit Options | Only wire transfer |
| 💳 Withdrawal Options | Only wire transfer |
| 💻 Platform Types | Desktop platform, web trading platform. |
| 📱 OS Compatibility | Mac, Windows, Linux, Web, Mobile Android, iPhone, iPad. |
| 📈 Tradable assets offered | Stocks, Bonds, Mutual funds, Exchange-traded funds (ETFs), Options, Futures, Cryptocurrencies. |
| 👨💼 Languages supported on Website | English |
| 👥 Customer Support Languages | English |
| 📆 Customer Service Hours | Monday – Friday 8:00 a.m. to 8:00 p.m. ET |
| 👉 Open a account | Click Here |
Min Deposit
USD 500
Regulators
FINRA, SEC
Trading Platform
TradeStation 10, Web-based platform, FuturesPlus
Crypto
Yes
Total Pairs
55
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Tradestation Islamic account – 8 key points quick overview:
- Tradestation Overview
- What exactly is an Islamic Account?
- Which financial activities are restricted and prohibited by Sharia law?
- What other features does an Islamic Account have?
- Tradestation Customer Reviews
- Tradestation Pros and Cons
- Conclusion
- FAQ’s
Tradestation Overview
Tradestation is a forex broker company in the United States that provides traders with access to one or more platforms to buy and sell foreign currencies. Forex brokers can gain access to the 24-hour currency market for speculation purposes through the broker. Forex broker services can also be provided for institutional clients and large companies such as investment banks.
Tradestation is a stockbroker that was founded in 1982 and is based in Plantation, Florida, where it is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Tradestation’s parent company, and has a long track record., discloses its financials, and its.
Tradestation is a wholly owned subsidiary of Monex Group, Inc., one of Japan’s largest online financial services providers. The Monex Group is listed on the Tokyo stock exchange. Tradestation Group was a NASDAQ listed company from 1997 – 2011 until it was acquired by Monex Group.
Tradestation started developing a cryptocurrency brokerage called Tradestation Crypto Inc. in 2019, as well as its TS GO pricing plan, which offers discounted rates for trading options and futures. Although Tradestation is rated highly by some customers in personal reviews on review websites, there is no information available on the Tradestation homepage or elsewhere about any awards received by them.
Tradestation offers three main Tradestation platforms to clients: the downloadable Tradestation 10, a browser-based platform; Futures traders have a separate platform called FuturesPlus, provided by Trading Technologies.
Tradestation offers equity, options, futures, and futures options trading online. Through a separate entity, Tradestation Crypto, clients can trade cryptocurrencies, but the broker lacks forex trading and fractional share trading.
What exactly is an Islamic Account?
Islamic accounts, known as swap-free accounts, are compliant with the Sharia law because there is no swap or rollover interest on overnight positions, which is against the Muslim faith. Muslim clients can benefit from these same trading conditions and terms as regular trading account types, with the only difference having no swaps on trading instruments.
A handling charge may however apply. An Islamic Account may be a standalone account, or an account option offered on regular accounts.
Islamic Accounts are often provided by brokers who serve Middle Eastern clients and offer features that are in line with the Sharia law, which prohibits the accrual of interest on funds deposited into the account.
Another important feature of an Islamic Account is that transactions must be settled immediately, requiring that currencies be transferred from one account to the other right after the transaction has been completed and therefore paid for in full.
Two key elements of Islamic law relate specifically to trading accounts, namely Riba and Gharar. Riba is a concept that refers to increasing or exceeding growth, which forbids interest credited from loans or deposits.
Gharar is an Arabic word associated with uncertainty, deception, and risk, which in modern finance include futures and options contracts, which have dates of delivery in the future.
Which financial activities are restricted and prohibited by Sharia law?
Due to the restrictions and prohibitions on Muslim traders when considering the intricate details involved with trading activities, the following may be affected or prohibited:
️ Overnight rollovers, because it involves the receiving of swap points on positions that are held open for longer after the trading day has concluded at the New York close at 17:00 EST, as is prohibited by the Sharia law.
️ Margin deposits and interest, because it involves the accrual of interest on funds that are deposited into the trading account, which is prohibited.
️ Loans are prohibited by the Sharia law as per the element of Riba. Followers of the Sharia law is prohibited from having funds transferred by either a bank or other financial institution and involving interest.
️ Trading on margin results in a trader being liable for paying interest, which also amounts to Riba and is prohibited by Sharia law, as money is borrowed from the broker to buy or sell such equities.
️ Short sales, which affects mostly shares and involves borrowing and subsequent sale of an asset, is prohibited.
️ Forward sales are affected. The trading of futures contracts involves the buying and selling of contracts at a future date according to a price agreed upon on the day of entering such a contract.
What other features does an Islamic Account have?
When making use of an Islamic account, traders can expect key features like the following:
️ Interest is not charged on contracts that are held for more than 24-hours
️ Accounts are activated with a required minimum deposit
️ Some specific restrictions and limits may apply to the Islamic Account
Tradestation Customer Reviews
So far evrything is cool with the…
So far evrything is cool with the service.I would be happy if you could alert clients on intraday margin requirements as they have been changing quite so often such that it sometimes takes traders into margin voilation and penalties.Most of the micro/mini symbols margin requirements should also be regularly kept low enough for small traders.Thanks
Great Platform
I have been using the platform since 2018 till now, it’s super fast and am very satisfied with their services.
This company is very profitable
This company is very profitable
No issue of withdrawing
Instantly payment
Tradestation Pros and Cons
| ✔️ Pros | ❌ Cons |
| Broker is well regulated and has a great reputation | Could be more user-friendly |
| Buy US-listed stocks and ETFs at a 0% charge | Limited access to international assets |
| Mobile app available | No copy trading tools provided |
| Multiple account types can be chosen | No forex trading markets |
| Supports cryptocurrencies, options, and futures | No fractional shares |
Min Deposit
USD 500
Regulators
FINRA, SEC
Trading Platform
TradeStation 10, Web-based platform, FuturesPlus
Crypto
Yes
Total Pairs
55
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Conclusion
Overall, Tradestation offers several account types, according to the products a trader wants to trade as well as according to the account ownership and taxation or to the leverage allowed. Tradestation however does not offer an Islamic account. Tradestation is a stockbroker that was founded in 1982 and is based in Plantation, Florida, where it is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
You might also like: Tradestation Sign-up bonus
You might also like: Tradestation Demo Account – Step by Step
You might also like: Tradestation Fees and Spreads
You might also like: Tradestation Account Types
You might also like: Tradestation Minimum Deposit
FAQ’s
TRADING ENVIRONMENT
How many instruments can I trade with Tradestation?
You can trade several different instruments with Tradestation, which include the following:
- Stocks, Bonds
- Mutual funds
- Exchange-traded funds (ETFs)
- Options
- Futures
- Cryptocurrencies
Which platforms are supported by Tradestation?
Tradestation provides the following popular trading platforms:
- Desktop platform
- Web trading platform
- TS GO clients have limited access to online tools
Does Tradestation offer leverage?
Yes, but no ratios are indicated.
What spreads can I expect with Tradestation?
Tradestation offers different spreads on its various accounts.
Since details on the website are not clearly enough stipulated, more information should be obtained from the customer support service to make an informed choice.
Does Tradestation charge commission?
More information on commissions may become available after opening an account or can be obtained from the customer support service.
Is Tradestation regulated and by whom?
Tradestation is regulated by FINRA, SEC.
Is Tradestation a recommended forex trading broker for experts and beginners?
Tradestation offers a fair-trading environment for affluent, experienced, and active traders.
What is the overall rating out of 10 for Tradestation?
7/10.
ACCOUNTS
What is the difference between a demo and a live trading account?
A demo account as is offered by broker companies like Tradestation is usually funded with virtual money and allows a prospective customer to experiment with the company’s trading platforms and its features, before setting up a real account which needs to be funded with the customers own real money.
Does Tradestation offer a demo account?
Yes.
How long is the demo account valid?
The demo account can be used unlimited.
Which live trading accounts does Tradestation offer?
Several accounts depending on ownership, leverage, etc.
What are the available deposit currencies for a live trading account?
USD and more.
DEPOSITS AND WITHDRAWALS
What is the minimum deposit required to open an account with Tradestation?
$ 0.
How do you make a deposit and withdraw money with Tradestation?
Tradestation offers only one deposit and withdrawal method, wire transfer.
Does Tradestation charge withdrawal fees?
Yes.
How long does it take to make a withdrawal?
Withdrawals may take only one day but depending on bank services it may take several days longer for the money to be available in a customer’s bank account.
Top 4 Brokers
