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After extensively researching and personally evaluating TradeStation, I approach its reputation with considerable caution. While the platform has a long-operating history in the United States and features advanced, self-developed trading tools, the absence of any valid regulatory license is an immediate red flag for me. Regulation is not a formality; it's fundamental for trader protection and recourse if issues arise. In my own trading journey, I prioritize brokers that offer robust oversight, and the lack of this at TradeStation makes it hard for me to fully trust the platform with significant funds. TradeStation does provide a broad range of instruments—stocks, options, futures, ETFs, and mutual funds—alongside robust platforms and reliable customer support, which some users appreciate. My experience aligns with this sentiment regarding their desktop and web trading infrastructure, which is genuinely feature-rich and professional. However, user reports of withdrawal problems are deeply concerning. Some exposures indicate serious difficulties in retrieving deposited funds and even mention suspected scams involving aggressive "unfreezing" fees. Good technology cannot substitute for transparency and regulatory protection, especially in an industry where financial safety is paramount. For my own capital and peace of mind, I require more than competitive fees and customer service—I need strong regulation and a consistent, positive track record of client fund security. Based on my professional judgment and the feedback I have seen, I would advise a very conservative approach when considering TradeStation. Careful due diligence and avoidance of large deposits are prudent if you decide to use their services at all.