Trade workstation is a cross platform Java desktop application that is created for online securities trading and market data services. Developed by Interactive brokers, it is highly customizable and efficient to use. The speed of execution is faster when compared to other platforms. Being a cross platform enables it to work on Windows-based PC or a Mac. It creates an efficient work environment for complex activities which can be solved easily. It belongs to genre of   direct access trading technical analysis software thus making it all time favorite.
Trader workstation provides an entry to Interactive brokers clients so that they can participate in global financial markets. The clients can receive data thereby executing security trades on various markets like equity, mutual funds, bonds, futures, and forex. The work can be performed in different countries through the trader workstation platform.
The software is customizable as IB offers various application programming interfaces which enable clients to make there own add-on applications for trader workstation .e add-ons can be made in C++, Excel, java and visual basic. They can work on all the platforms whether it is windows, Mac or Linux.  The workstation helps in creating pages to track one’s pending order, their portfolios, securities that one is watching. It gets streaming quotes, allows the trader to put trades, watch their margin, trade baskets, and also liquidate position. It also includes some graphs with very powerful charting tools. It also has variety of technical indicators which help the trader in making important decisions using real time data. It also provides the trader powerful order management functionality and sophisticated pre and post-trade analysis tools.

IB also offers its clients paper trading account that allows trader to test various functions and features of trader workstation and its associated Applications. It is a kind of Simulator that enables to use trader workstation to its full potential and get accustomed to its features. The client has initial value of around ten million dollars. The trader can feel the real time environment without actually risking his own money. The value of this account changes with the value of the simulated positions that the trader holds in the account. The trader can check various strategies before implementing them real-time.

There are plenty of releases in the market and the stock trading software is constantly upgraded. Still there are certain areas where it can be improved. The Account information window does not update in real time. It always lags by some period of time. The archive does not show up properly and it is very difficult to see any trading history from previous days or months. The charting package also needs some improvement and need to be upgrade to include new charts. Sometimes At times it becomes a negative trading without integrated level 2 montages. Latest release was Build 833.3 in April 2008. . Other popular versions include version 5.0 and 6.0 which are also great. To ensure that the latest version of trader workstation keeps running and accessed quickly IB encourages the use of Browser-Based version of the TWS.