TradeStation

TradeStation International Ltd (TSIL) is a UK-based company registered in England and Wales, with its official address at P03 The Old Power Station, 121 Mortlake High Street, London. Founded on 15 March 2019, the firm operates as an introducing broker, directing clients to Interactive Brokers (U.K.) Limited (IBUK) for brokerage and trading services. It does not hold a current FCA licence; its previous investment advisory licence has expired, and no active regulatory oversight is acknowledged.

The company's website, tradestation-international.com, presents TradeStation as a technology provider that powers trading through the Interactive Brokers infrastructure. This model means that TradeStation itself does not execute trades or hold client funds; instead, it offers the TradeStation platform and related support while IBUK handles the execution, clearing, and custody. This structure is clearly stated in the broker's terms of business.

TradeStation International Ltd is not currently regulated by the Financial Conduct Authority (FCA) or any other financial regulator. The known facts indicate that an FCA Investment Advisory Licence was previously held but has since expired. The broker's website does not display any regulatory logos or licence numbers, and the terms of business explicitly state that TSIL only introduces clients to IBUK, not itself providing trading services.

This absence of direct regulation is a significant point for prospective clients. While IBUK is authorised by the FCA, clients of TradeStation may not have the same protections as those dealing directly with a regulated broker. FXCanary's risk assessment scores the broker at 75/100 (Severe), reflecting the lack of regulatory oversight and the complex relationship between the entities.

The broker offers two account paths: one for US residents through TradeStation Securities Inc. (a separate US entity) and one for non-US clients through TradeStation Global, which integrates with Interactive Brokers UK. The Global account is the primary offering for international traders, providing a single login to trade a wide range of instruments across global markets.

TradeStation's proprietary platform is available on desktop and mobile, featuring charting tools, real-time data, and order execution. The platform is designed to give a professional-grade trading experience, and the broker claims it is award-winning. However, since the platform's underlying brokerage is Interactive Brokers, clients may also have access to IB's Trader Workstation, depending on preferences.

Through the TradeStation Global offering, clients can trade stocks, ETFs, options, futures, forex, and bonds from over 160 markets in 36 countries. The forex component includes 28 currency pairs, and the broker highlights access to deep liquidity from multiple dealers. Commodities, metals, and index products are also available.

The scope of instruments is broad, covering both exchange-traded and over-the-counter products. However, it is important to note that the actual trading conditions, such as leverage and margin requirements, are determined by Interactive Brokers, not TradeStation itself. The broker's role is limited to providing the platform and introductory services.

TradeStation's website lists competitive pricing for US securities and futures, such as $5 per stock trade and $1.50 per futures contract. For forex, commissions are transparent and low, with no marked-up spreads. The broker claims that forex quotes can be as small as 0.1 PIP due to the aggregation of quotes from 14 major dealers via Interactive Brokers.

Additional fees may include exchange, regulatory, and clearing charges. The broker does not appear to charge for account opening or inactivity, but clients should review the full terms. Since the trading is executed by IBUK, any fees imposed by IBUK (such as data subscriptions or monthly activity fees) may also apply.

TradeStation Global is aimed at active traders and investors who want access to global markets with a powerful platform. It is particularly suited to those who already use or are familiar with Interactive Brokers but desire a different interface. The broker also appeals to traders who prefer a dedicated trade desk and personalised support.

However, the lack of direct regulation and the requirement to open an Interactive Brokers account may deter traders seeking a simpler, fully-hosted solution. As an introducing broker, TradeStation may be best for experienced traders who understand the relationship and are comfortable with the higher risk profile implied by the absence of regulatory oversight.