Want to know which the best day trading brokers are but don’t know where to start?

Well I have compiled a list of the top brokers you can trade with if you are passionate about day trading!

The best day trading brokers offer a range of tools to help you trade currencies, stocks and ETFs. They also offer low fees and fast transactions.

Many of the top day trading brokers now offer demo accounts, which allow you to practice your strategies without risking real money. This is a great way to get familiar with the market before depositing funds.

DISCLAIMER

Trading is a high risk activity, protect your capital through the use of stop loss, making intelligent use of leverage and not investing more than you are willing to lose. The author of the post declines any responsibility for any losses incurred as a result of decisions made after reading this article. The information contained below is for informational purposes only. CFDs are complex instruments, therefore adequate knowledge is required before making any investment. Thank you for your kind attention!

Best Day Trading Brokers: Interactive Brokers

Interactive Brokers has a streamlined approach to brokerage services that focuses on broad market access, low costs and superior trade execution. It’s well-capitalized and publicly traded, with over 2 million client accounts and $1.9 million in daily trade values.

It offers a range of account types to suit a wide variety of investors. They also offer free demo accounts for new customers to try before they sign up for real trading.

Traders can trade a range of assets, including stocks, options, futures and forex. They also offer a number of different accounts, such as short positions and margin trading.

Their margin rates are significantly lower than those of their competitors. They’re half as high as many brokers charge for the first dollar of margin, which can make a big difference in the cost of trades.

They’re also a good choice for foreign currency traders, who can use their commission-based forex pricing to save money on exchange rate fees. The company aggregates prices from 17 interbank dealers, rather than marking up spreads.

The broker also offers a variety of educational resources to help you learn more about the stock market and its tools. Their Traders’ Academy portal has dozens of courses for all skill levels, while their IBKR Quant blog is a useful resource for quantitative investors.

They also offer an IMPACT dashboard, which helps investors test securities based on their personal ESG values, and IBKR GIVE lets you make cash donations directly from the platform. It’s a great way to do your part for the environment while investing in companies you care about.

Want to know how to be successful in day trading? Read here!

Best Day Trading Brokers: Lightspeed Trading

Lightspeed is a US-based online broker that offers trading in stocks, ETFs and options. It also offers futures contracts through a separate platform and Treasury bills through broker-assisted trades.

Its aptly named “speed of light” service is geared towards professional investors who need to access the markets quickly. Investors can choose the markets through which they would like to send their orders, and Lightspeed routes them directly to those markets. This enables the company to process orders faster than its competitors, which may matter for professional day traders.

This is especially true of equities, where the smallest fraction of a second can mean the difference between a trader’s profits or losses. For example, a 1% increase in price can cause a 10% loss, so Lightspeed’s ability to process transactions quickly can save you money.

Traders have the option to trade from the desktop or mobile platforms, which offer real-time streaming data and all account details. Several of the platform’s features are compatible with the mobile app, including stop limit orders and trailing stops.

In addition to a web-based and mobile app, Lightspeed offers a demo account that allows traders to try out the platform before signing up for an account. You’ll need to provide your name and email address to get started, but once you’re done with that, you can start trading right away. Moreover, you can use the app to create watchlists, which are helpful for sorting through your most frequent trades.

Best Day Trading Brokers: TD Ameritrade

TD Ameritrade is a well-established and respected broker that attracts a broad range of investors thanks to its easy-to-use trading tools and excellent educational content. TD Ameritrade also offers low trading costs and a powerful portfolio of asset classes, including ETFs, mutual funds, and forex.

Traders can use a simple search tool to scan for information on a wide range of stocks and ETFs, including earnings information, analyst ratings, dividend payouts, charts, price history, and more. Moreover, the platform allows users to make simple buy or sell orders and monitor their positions in real-time.

For advanced traders, TD Ameritrade’s thinkorswim(r) software is a powerful combination of research tools and screening functions, offering a robust suite of analysis and financial calculators. It also offers several sophisticated order types, such as market, limit, stop-limit, and trailing stops, which can help a trader stay focused on the right strategy.

Finally, TD Ameritrade’s customer support is available 24/7 via phone, email, and in-branch service. Clients can speak to live brokers, and many of the staff members are former professional floor traders or market makers themselves, giving them a unique perspective on the industry.

TD Ameritrade provides a vast range of education resources, covering long-term investing, active trading, and market commentary. Their courses are geared toward beginners and advanced investors, and they include more than 200 instructional videos, tutorials, articles, and investing publications. The company also offers paper trading, which allows new and experienced investors to test strategies before deploying them with real money.

Best Day Trading Brokers: ZacksTrade

Zacks Trade is a US-based online stock broker that offers day trading opportunities on stocks, options, ETFs and bonds. The broker is regulated by the SEC and FINRA and offers competitive fees for international trading.

Its free online platform enables you to trade stocks, options, mutual funds, ETFs and more from the comfort of your home or office. You can also access a handy mobile app for on-the-go trading.

The broker offers a variety of services to meet all your trading needs, including account support and security monitoring. The customer service team can be reached via email, phone and live chat Monday through Friday.

They also offer a range of useful features for advanced traders. For example, their Portfolio Analyst function helps you quickly view customized portfolio performance and statistics in order to determine whether strategies are working. You can also rebalance and compare your portfolio to various benchmarks.

Traders can also pay to subscribe to market data, which includes various data bundles from NASDAQ or the NYSE. The cost of these subscriptions varies, but many are quite affordable.

New clients must make a minimum initial deposit of $2,500, and there are several different ways to deposit money into the account, such as wire transfers or cheque deposits. Once you’ve deposited the required amount, you can trade with up to $1 million in virtual funds.

Cobra

Cobra is a direct access broker that offers high-speed trade executions and an extensive range of trading platforms. They are regulated by SIPC and FINRA, which guarantees reliable protection of client funds.

They also offer a free trial version, which is helpful for new traders who don’t want to spend money on a broker. The broker’s pricing is competitive and the platform has a good selection of features, including advanced charting, one-click trading and a short locate monitor.

The broker offers a wide variety of trading instruments, including stocks, options and futures. They also have a solid customer support team and fast order executions.

Day trading with Cobra is a great way to make some extra cash on the side, but the commissions can be expensive. It’s important to research and compare all fees, so you can find the best brokerage for you.

Traders Union experts checked Cobra’s trade and non-trade fees for stock, options and futures. Their rates for equity trades are based on how many shares you trade and range from $0.003 per share for 100k or fewer shares, to $0.15 per share for 10-20 million shares.

They also charge market data and software fees, which can add up quickly. There are also commissions for placing orders, inactivity for a month and withdrawals.

TradeStation

TradeStation provides a wide range of trading and analysis tools for stocks, ETFs, options, futures, and cryptocurrencies. Its platforms can be used on desktop, web and mobile, and API technologies make it easy for other brokers to integrate them with their own services.

Founded in 1982, TradeStation offers a full suite of trading and research products for investors interested in gaining an edge over the market. These include award-winning* trading and analysis platforms for equities, options, futures, and cryptocurrencies.

It also offers a variety of educational content, including e-books, videos and live trading demonstrations. Its customer support team is available by phone, email and live chat Monday through Friday from 8 a.m. to 5 p.m. Eastern time, and is available to help with all account-related questions.

The company’s trading platform is geared toward active traders who need fast, efficient execution, and it allows you to customize charting to your own preferences. For example, you can set up hypothetical “what-if” scenarios to indicate maximum gains and loss and break-even points for positions.

Additionally, you can use the TradeStation platform to research and test different strategies. Its easy-to-use programming language, called EasyLanguage, lets you write your own indicators and studies or have them developed by third-party developers.

Though TradeStation was originally designed to cater to professional and institutional investors, it is now focusing on being more friendly to less-experienced traders. That said, it does still have some work to do in terms of offering more tools for casual traders and robo-advisors.

Pepperstone

Pepperstone is one of the world’s leading forex and CFD brokers, known for providing top-notch services. It boasts an expansive product selection, competitive pricing and an user-friendly interface.

Traders are offered a selection of account types, such as a commission-free beginner’s account and zero spread active traders account. Furthermore, the broker provides advanced technology, deep liquidity and low trading costs.

Pepperstone’s website is user-friendly with helpful tutorials. Plus, it boasts industry-leading security protocols so you can rest assured knowing your personal data is secure.

Customer support is available via email, live chat and telephone. You may also upload documents with the click of a button. The company guarantees an answer time under 24 hours for those facing account issues.

Open a Pepperstone account with just $200 as your initial deposit and access over 1200 instruments across various asset classes such as forex and commodities, stocks, ETFs and crypto CFDs.

Clients can deposit and withdraw funds via various methods, such as bank transfer or wire transfer, credit cards, and e-wallets. Furthermore, they can use Pepperstone’s free mobile app for Android or iOS to manage their funds more conveniently.

Pepperstone forex spreads are among the lowest in the online retail forex market.

Investopedia named Pepperstone the Best Forex Broker for Trading Experience in 2020, and its stellar customer service reputation continues to grow. It offers a vast selection of tradeable assets, multiple account types and user-friendly platforms – making it an ideal choice for both novice and experienced investors alike.

You can open an account with Pepperstone by filling out a brief registration form on their website. All they ask for is your name, email address and password. After submitting this information, Pepperstone will verify your account.

The broker is supported by several financial regulators, such as the Australian Securities and Investments Commission and UK Financial Conduct Authority. This makes it an ideal option for traders looking to leverage the global forex market.

Pepperstone allows traders to trade a range of currencies and CFDs using the MetaTrader 4 and MT5 platforms. New traders are welcome to open a free practice account in order to test out the software and refine their skills before investing actual funds.

Pepperstone is a trusted, fully regulated forex and CFD broker that has been around for over ten years. Their competitive spreads and rapid executions make them attractive to both beginner and professional traders alike, and they provide various tools and resources to help you grow your portfolio. Furthermore, their rebate program for professional investors provides cash discounts on spreads when trading a certain number of lots per month.

Bottom Line

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