New Model Expected to Challenge Leading Retail Market Brands
Launch Follows Barron's 2011 Ranking of TradeStation as No. 1 Online Brokerage Firm in the U.S.
PLANTATION, Fla., April 11, 2011 (GLOBE NEWSWIRE) -- TradeStation Group, Inc. (Nasdaq:TRAD) today announced the launch, through its new subsidiary, TradeStation Forex, Inc., a CFTC-registered, NFA-member Retail Foreign Exchange Dealer (RFED), of a brand-new, state-of-the-art retail forex offering. Starting today, TradeStation Forex, using what is commonly referred to as the "agency broker model" for retail forex, will own and operate the company's forex business for all existing and new customer accounts. The company believes this new offering will be the best choice available to the retail forex market. Powerful and attractive features include:
- A brand-new screen interface for traders to place forex orders in an intuitive and familiar way, which is seamlessly integrated with the full analytics power of the TradeStation platform.
- The ability to design, back-test, optimize and automate custom-designed and third-party forex trading strategies and ideas.
- The functionality of TradeStation's premium RadarScreen® product (TradeStation's state-of-the-art market scanning engine), so that customers can analyze multiple foreign currency pairs simultaneously on one screen.
- A forex market depth window.
- Transparent foreign currency spreads which, including TradeStation's small mark-up, are expected to be extremely tight and competitive – superior, the company believes, to what is generally available today in the market.
- No commissions.
- No forex data fees.
- No set-up, start-up or initial fees.
- No software, service, access or other monthly fees.
- The ability for accounts to be funded and monitored in one of several different foreign currencies.
- Leverage of up to 50:1 for liquid currency pairs.
- Award-winning customer service and education.
"We now have, we believe, the only offering in our industry that is truly focused on helping you become a better forex trader, regardless of the level at which you currently trade," said Gary Weiss, the President of TradeStation Forex. "We believe our combination of features and pricing produces a powerful offering that is superior to what is available in the market today for retail forex traders. We think TradeStation can now become a dominant brand in the retail forex market, just like it has been in the online equities and futures markets over the past ten years, and we plan to devote dedicated marketing dollars and focus to this launch and to grow market share as quickly as reasonably possible."
The retail forex market is large and growing. According to an Aite Group March 2011 report titled Retail Forex Comes of Age: Leveraged Trading is Here to Stay, retail forex generated daily turnover of US $313 billion during 2010, 32% larger than the daily turnover in all global equity exchanges combined, and retail forex volume, as a percentage of total forex volume, grew from 2% in 2007 to 7.9% in 2010.
TradeStation's forex launch follows on the heels of Barron's magazine's March 2011 ranking of TradeStation as the #1 online brokerage firm in the United States in its annual review of online brokerage firms. TradeStation not only was ranked #1 as the "best overall broker," the biggest prize, but also won the #1 ranking for "Best for Frequent Traders," a confirmation of TradeStation's long-standing reputation as the leading online brokerage for the active trader market. TradeStation also scored the #1 rating in two subcategories used to determine the overall winner: "Trading Technology" and "Customer Service and Education." TradeStation was ranked superior, overall, to 23 other online brokerages, including Charles Schwab, E*Trade, Fidelity, Interactive Brokers, Lightspeed Trading, Merrill Lynch's Merrill Edge, optionsXpress, Scottrade and TD Ameritrade/thinkorswim. Virtually all of the features, technology and services that resulted in these #1 rankings will be present in the new TradeStation Forex offering.
To speak with a registered representative of TradeStation Forex about opening a foreign currencies (forex) account, please call 1-800-770-4049 or visit .
To speak with a registered representative of TradeStation Securities (member NYSE, FINRA and NFA) about opening an equities account (to trade stocks, ETFs, and equity and index options), or a futures account, please call 1-800-808-9336 or visit . Institutional equities, options and futures traders should call 1-800-579-7616.
TradeStation is an award-winning online brokerage firm and trading platform, considered by many the leader in the active trader market. In March 2011, Barron's magazine, in its annual review of 24 online brokerage firms, ranked TradeStation the #1 brokerage firm in the United States, as well as #1 for Frequent Traders, Trading Technology, and Customer Service and Education. In February 2011, TradeStation won for Best Trading System – Stocks, Best Trading System – Futures, Best Institutional Platform, Best Professional Platform, Best Online Analytical Platform and Best Real-Time Data in the annual Readers' Choice Awards given by Technical Analysis of Stocks & Commodities magazine. Also in February 2011, TradeStation was ranked the #1 online brokerage in the U.S. by TraderPlanet.com and SFO magazine in their 2010 Superior Trading and Resource (STAR) Awards.
TradeStation Group, Inc. (Nasdaq:TRAD), through its brokerage subsidiaries, offers the TradeStation platform to the active trader and certain institutional trader markets. TradeStation is an electronic trading platform that offers state-of-the-art electronic order placement and execution and enables clients to scan the markets and design, test, optimize, monitor and automate their own custom Equities, Options, Futures and Forex trading strategies.
TradeStation Securities, Inc. (Member NYSE, FINRA, SIPC, DTCC, OCC & NFA) is a self-clearing, licensed securities broker-dealer and a registered futures commission merchant, and also a member of numerous major exchanges. Its TradeStation Prime Services division, based in New York, seeks to provide prime brokerage services, including securities lending, to small and mid-sized hedge funds and other firms. TradeStation Forex, Inc. (Member NFA) is a Retail Foreign Exchange Dealer (RFED) which offers foreign currency (forex) accounts under what has been commonly known as the "agency broker model." The London-based subsidiary, TradeStation Europe Limited, an FSA-authorized brokerage firm, introduces UK and other European accounts to TradeStation Securities and TradeStation Forex. The company's technology subsidiary, TradeStation Technologies, Inc., develops and offers strategy trading software tools and subscription services and owns all of the company's intellectual property.
Forward-Looking Statements – Issues, Uncertainties and Risk Factors
This press release contains statements that are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "expected," "believe(s)," "will," "think," "can," "plan" and similar expressions regarding the value, attractiveness, superiority, pricing, market appeal and growth potential of the new forex offering are intended to identify forward-looking statements. All forward-looking statements are based largely on current expectations and beliefs concerning future events and reactions that are subject to substantial risks and uncertainties. Actual results may differ materially from the results herein suggested. Factors that may cause or contribute to the various potential differences include, but are not limited to, the expected or desired results not occurring as planned, or at all, due to (a) unexpected design, performance or technical issues, (b) new or future technologies that may be offered which provide better features, pricing or performance, (c) customers and prospects not viewing the offering as superior to other offerings by competitors, and/or (d) the effectiveness (or lack of effectiveness) of the company's forex marketing campaigns and efforts. Please also see other issues, risks and uncertainties indicated from time to time in the company's filings with the Securities and Exchange Commission, including, but not limited to, the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2010, and other SEC filings, and company press releases, conference calls and public presentations or statements.
CONTACT: David H. Fleischman Chief Financial Officer TradeStation Group, Inc. 954-652-7000