Tradestation - asked for bank account login

[J1eyed]

Hi,

Does anyone use Tradestation? I created an account and filled in the W-8BEN form. When I got to the "let's add some money to your account section" I found my bank (Westpac) and it asked for my account login and password. I immediately closed it as this isn't the norm in Australia.

Is this how other people put money in their TradeStation accounts?

Ian

 

[tech/a]

Smart move
Not a trade station user but it’s a charting program
It doesn’t need cash you’ve already bought it.

 

[vitorleo]

Hi Ian,
I have been a TradeStation client for about 2 years now. I have a very small account (under 1000 USD) just to use their charting software.
I have been recently experimenting with different methods to transfer funds and I was brave (crazy) enough to input my login details to my Bankwest (Australia) account. The system actually logs in to your online banking and lists your accounts and balances for you to pick one of them to link to your TradeStation account. The systems returned an error message at this step for me. It seems legit, but as you said it's not the norm in Australia...
I have emailed their support to see how to to go further that step. I'll let you know.
Cheers,

 

[Willzy]

HI Guys,

Just wondering how you've been going with Trade Station I have a strategy which works particularly well with US stocks but I need a low commission drag for it to be effective. At the moment I'm using MT5 with Admiral Markets but that's CFD's with the associated costs.

How has your experience been and what it the overall cost of say buying 10,000 USD of MSFT or AAPL etc

Many Thanks in advance

Willzy

 

[Djangu]

Hi Ian,

The Tradestation sign-up process is legit, but it cannot link a bank account in Australia, even if login and password are provided, so it's better to skip that step if possible, or do it and then change the password.

After the sign-up process, the user will be able to login to a Tradestation account management (it's different to a trading login) and check the correct deposit instructions. There are SWIFT and other required codes to transfer the minimum of $2000 USD to the Tradestation account to activate it.

Once the minimum transfer is made, it is possible to download the Tradestation software which will "lock" to the computer where it is first used. Additional computers will require authorisation by calling Tradestation (this part I haven't tried).

Best of luck,

 

[Sean K]

Hi Ian,

The Tradestation sign-up process is legit, but it cannot link a bank account in Australia, even if login and password are provided, so it's better to skip that step if possible, or do it and then change the password.

Is Tradestation a Tanzanian business? I often get requests for banking details from that part of the World.

 

[Djangu]

Here's the market depth in Tradestation, for free.