ForumsSolo 401k Brokerage AccountAnyone using Tradestation as a Brokerage for 401K?

Forums Solo 401k Solo 401k Brokerage Account Anyone using Tradestation as a Brokerage for 401K?

  • Anyone using Tradestation as a Brokerage for 401K?

    3 Replies
  • Laurence Baxter

    Top SubjectSolo 401k Brokerage Account,Cryptocurrency
    Top ForumsSolo 401k Brokerage Account, Cryptocurrency

    Laurence Baxter

    Laurence Baxter

    Top SubjectSolo 401k Brokerage Account,Cryptocurrency

    February 10, 2022 at 10:19 am

    I was strongly considerating opening a brokerage account at Tradestation, as a one-stop shop for stocks, ETFs, crypto and futures (plus a great Radar Screen feature). They do allow entity accounts including Solo 401K however when I asked them about this, one thing in their response scared me:

    Entity accounts including LLC or Trusts must pay for “Professional” market data subscription, with the sole exception of a “Family Trust”.

    This sounds odd (as no other brokerage I know of does this), and those fees are not cheap! Has anyone here opened up a Tradestation account for their 401K or know more about the fees? Thanks in advance!

    Laurence Baxter
  • Mark Nolan

    Top SubjectSolo 401k,Solo 401k Contributions
    Top ForumsSolo 401k, Solo 401k Contributions

    Mark Nolan

    Mark Nolan

    Top SubjectSolo 401k,Solo 401k Contributions

    February 10, 2022 at 4:28 pm

    Some have used TradeStation and have filled out their “Account Application Package” which includes a “Trust” option. The bar code on their paper application is 103997.

    In addition to their application packet, they also require the following solo 401k plan documents:

    Solo 401(k) Adoption Agreement

    Solo 401(k) Trust Agreement

    Solo 401(k) Plan Document

    Beneficiary designation

    And no solo 401k fund may not be used to pay for market data subscriptions.

  • Laurence Baxter

    Top SubjectSolo 401k Brokerage Account,Cryptocurrency
    Top ForumsSolo 401k Brokerage Account, Cryptocurrency

    Laurence Baxter

    Laurence Baxter

    Top SubjectSolo 401k Brokerage Account,Cryptocurrency

    February 11, 2022 at 9:34 am

    Thanks for the reply, Mark! I’m glad some here have done that.

    I wasn’t completely clear on your last sentence. My real question is:
    “Must IRA Trust accounts pay for “professional” market data at TS?”
    If not I’ll likely apply next week, if so I’ll be looking at TDAmeritrade instead.

    Laurence Baxter

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