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TradeState

Paid#21 of 22 in Hedge Fund Software

TradeState: A trade-capture and allocation system for funds that do not need portfolio management or fund accounting. Ranked #21 of 22 in Hedge Fund Software by our editors (6.8/10); pricing: Pricing on request; best for small funds needing trade capture and allocations.

6.8/10Editor score

Visit TradeState

TradeState6.8 Visit TradeState

At a glance

Editor score
6.8 / 10
Pricing
Pricing on request
Best for
Small funds needing trade capture and allocations
Portfolio management
No
Facts checked
24 Sep 2026

Where it wins
- Accepts orders by manual entry, file, FIX, or API.
- Supports pre- and post-trade allocations across accounts, funds, or strategies.
- Managed FIX and Bloomberg EMSX support with timestamped audit trails.
Where it doesn't
- Does not include portfolio management or fund accounting.
- Pricing is contact-sales rather than publicly listed by plan.
- Focused on order management rather than a broader fund operating system.

Our verdict on TradeState

TradeState is a hosted, browser-based order management system for hedge funds, RIAs, family offices, and other buy-side firms. Its real-time blotter captures orders and executions, supports allocations, and exports trade data to downstream systems. That makes it relevant to small and mid-market firms seeking trade capture and allocation workflows rather than a full portfolio or fund operations suite.

The workflow spans manual entry, file upload, FIX, and API order input, with support for equities, fixed income, FX, futures, options, and OTC derivatives. TradeState also provides managed FIX session setup, certification, and maintenance, and connects with Bloomberg EMSX for order submission and execution capture. Schwab, Fidelity, and Pershing are also listed integrations. Timestamped records for orders, fills, amendments, and cancellations support audit review; trade data can be exported through flat file, REST API, or FIX to portfolio management, fund administration, or accounting systems. This makes ecosystem fit strongest where a firm wants OMS capabilities connected to existing tools, not bundled downstream accounting.

TradeState is cloud-hosted and available through web and API. Prospective customers are directed to request a demo, and pricing is handled through sales rather than published plans. The central tradeoff is scope: the product provides order management, but not portfolio management or fund accounting. Firms that need a focused blotter, allocations, and broker connectivity may find that boundary appropriate; teams looking for one system to cover portfolio management or accounting should consider an alternative that includes those functions.

Your product? Our editors can test TradeState in depth and publish a review, labelled as paid · from $149/mo →

TradeState pricing

Plans Pricing on requestPaid No free plan — trial or paid only. Prices checked 24 Sep 2026.

See plans on tradestate.com

TradeState fact sheet

Free plan	Not verified
Paid from	Not verified
Portfolio management	No
Order management	Yes
Fund accounting	No
Investor portal	No
Supported asset classes	Equities, fixed income, FX, futures, options, OTC derivatives
Listed integrations	Not verified
Deployment	Cloud
Platforms	Web
Built for	Small business, Mid-market (editorial estimate)
Integrations	4 integrations: Bloomberg EMSX, Schwab, Fidelity, Pershing
Pricing	Pricing on request
Website	tradestate.com
Facts checked	24 Sep 2026

TradeState integrations

TradeState lists 4 integrations on its own site.

Bloomberg EMSX
Schwab
Fidelity
Pershing

Alternatives to TradeState

See all TradeState alternatives →

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The editor score above is our own research. What this page doesn't have yet is a reader's view — what you used TradeState for, what worked and what didn't. No stars are seeded and no review is paid for; an editor reads every one before it appears.

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Featured on iTechGuides

TradeState is listed in our Hedge Fund Software directory. Add the badge to your site — it links back to this page.

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Reviewed by iTechGuides Editors · Editorial team · Updated Oct 2026

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Last updated 7 Oct 2026 · How we research and update