EXHIBIT 99.4
CONSENT OF RAYMOND JAMES & ASSOCIATES, INC.
We hereby consent to the use of and reference to our opinion dated January
19, 2000 to the board of directors of onlinetradinginc.com corp. in the joint
proxy statement/prospectus included in this Amendment No. 3 to Registration
Statement on Form S-4 of TradeStation Group, Inc. (the "Registration
Statement"). In giving the foregoing consent, we do not admit that we come
within the category of persons whose consent is required under Section 7 of the
Securities Act of 1933, as amended (the "Securities Act"), or the rules and
regulations promulgated thereunder, nor do we admit that we are experts with
respect to any part of the Registration Statement within the meaning of the
term "experts" as used in the Securities Act or the rules and regulations
promulgated thereunder.
RAYMOND JAMES & ASSOCIATES, INC.
/s/ Raymond James & Associates, Inc.
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St. Petersburg, FL
November 21, 2000
