UPDATE 1-TradeStation posts lower Q2 profit, cuts 2009 view

* Q2 EPS $0.11 vs yr-ago $0.14

* Brokerage commissions and fees up 13 pct at $31.9 mln

* Sees Q3 EPS $0.09-$0.11

* Sees 2009 EPS $0.41-$0.46, prior view $0.44-$0.65

July 23 (Reuters) - Online brokerage TradeStation Group Inc (TRAD.O) posted lower quarterly earnings, hurt by a fall in net interest income attributable to lower interest rates, and cut its 2009 outlook.

Second-quarter net income was $4.7 million, or 11 cents a share, compared with $6.1 million, or 14 cents, last year. Net interest income fell to $1.3 million from $6.2 million.

Analysts expected a profit of 11 cents a share, before special items, according to Reuters Estimates.

However, the company said it saw a 13 percent increase in brokerage commissions and fees and a 10 percent growth in brokerage account base in the second quarter.

TradeStation's daily average revenue trades, or DARTs -- a key measure of trading activity for retail brokerage firms -- rose 7 percent to 97,392 during the period.

For the third quarter, the company forecast earnings of 9 cents to 11 cents a share and revenue of $34.5 million to $36.5 million.

TradeStation cut its full-year earnings outlook to between 41 cents and 46 cents a share, from it previous estimate of 44 cents to 65 cents.

The company sees 2009 revenue of $140 million and $145 million. It had previously forecast revenue of $150 million to $172 million for the year.

TradeStation shares were down 8 cents at $8.58 in early trade Thursday on Nasdaq.

For the alerts, double-click [ID:nWNAB0849] (Reporting by Abhinav Sharma in Bangalore; Editing by Himani Sarkar)