The Best Platforms for Day Trading in 2024

Robinhood is a commission-free stock trading app created in 2013 to help people achieve financial freedom and start investing on their own terms. The company quickly gained a following and became one of the most popular apps on the market. The app has since expanded to include options trading, ETFs, and mutual funds.

Functionality and Ease of Use

Robinhood has no minimum deposit. It has a desktop version and a mobile app and is available in all US states. The app’s clean and intuitive design makes it easy to navigate, with everything organized in tabs, so you can quickly find what you need.

The app also has a built-in news feed providing up-to-date information on the latest market movements. The app is available for iOS and Android, and anyone can use it for free.

Once you download it, all you need to do is create an account, deposit some money, and you can start trading immediately.

Fees and Requirements

Robinhood is a great option for those just starting out. It does not charge commissions or fees for stock, options, or ETF trades.

There are no minimum deposit requirements in general, but if you wish to invest on margin, you’ll need at least $2,000 or 100% of the security’s purchase price in your account.

Analytical Features and Order Execution

When it comes to analytical features, Robinhood lags behind some of the other platforms on this list. However, it offers a few basic graphs to help you develop your trading strategy.

And while the platform doesn't have as many order types as others, it does allow you to place market orders, limit orders, and stop-loss orders.

Order execution is reliable and efficient. The only downside is that the platform can be a bit slow when loading data.

Investment Options

Robinhood offers a limited number of securities for trade compared to other platforms on this list. Still, it does include stocks, ETFs, cryptocurrencies, gold, and options trading.

Robinhood does not offer forex or futures trading, so if these are your assets of choice, you might want to look elsewhere.

TradeStation is an online broker specifically made for active and frequent day traders. Its trading tools and services help clients monitor, optimize, and automate trading strategies.

This trusted, versatile platform is perfect for traders looking to trade stocks, options, ETFs, and futures, all in one place. Traders can always rely on TradeStation’s multi-channel 24-hour customer support if they need assistance.

Functionality and Ease of Use

TradeStation is user-friendly; those looking for a platform for beginners will appreciate its simplicity. The platform is available in three different versions: Desktop, web-based, and mobile. Best of all, it doesn't matter which device you use to access TradeStation, because your information will be synchronized across all of them. No data losses with TradeStation!

The main navigation menu is located on the left side of the screen, while all the features and tools are neatly organized in tabs. You can customize your workspace to accommodate your needs.

TradeStation also offers plenty of charting tools and technical indicators for flawless trade execution. You can also use the platform for backtesting your trading strategies to see how they would have performed in the past.

Fees and Requirements

Now let's look at the costs: For one, there is no minimum deposit, meaning you can start trading and investing with smaller amounts. The existing fees are quite reasonable, especially compared to some other brokers on this list.

There is no commission for stocks and ETFs, while the commission for options starts at $0.60 per contract per side, and futures and futures options start at $1.50 per contract per side.

The only drawback is that there’s an account inactivity fee, though it is relatively inexpensive: $50 annually if your account balance is less than $2,000 and you have made fewer than five trades in the past year.

Analytical Features and Order Execution

The analytical features in the platform's arsenal are on par with other top dogs in the industry, and order execution is certainly TradeStation’s forte. The speed is nothing to sneeze at, and you can choose between several order types (e.g., market, limit, and stop-loss orders).

Investment Options

TradeStation offers various investment choices, including stocks, ETFs, options, futures, and forex. The company also has a TradeStation Crypto app, specially designed for trading with Bitcoin and other popular cryptocurrencies.

If you are interested in an advanced trading platform with an intuitive interface and wide selection of investment options, Interactive Brokers might be just the thing.

The Interactive Brokers Group was founded in New York City in 1978, and has since branched out and become one of the most respected online brokers.

Functionality and Ease of Use

Interactive Brokers is hard to beat in this category: Its impressive range of analytical software includes various indicators and charting tools. It also offers excellent customization options, so you can tailor the platform to your needs and preferences. If that's not enough, the platform also offers a paper trading account, so you can test out your strategies before putting real money on the line.

In addition to having a well-developed web platform, this provider also offers mobile apps for iOS and Android devices. Another thing we liked about Interactive Brokers is that it allows users to open an account without funding it right away: Instead, they have 90 days to develop their strategies before their account is automatically closed.

Fees and Requirements

Interactive Brokers charges a commission of $0.0005 per share with a minimum of $0.35 per order and a maximum of 1% per trade.

However, it offers some of the lowest margin rates in the industry, starting at only 0.75%. This could be a good option for those just starting out, if they have enough money, but those looking for low commission rates might find some better solutions.

Analytical Features and Order Execution

Interactive Brokers provides traders with plenty of analytical and free tools, including:

• Large selection of technical indicators
• Advanced charting tool
• Extensive backtesting capabilities

Investment Options

Interactive Brokers offers investing in stocks, bonds, futures, options, and forex. Traders can explore all these options and trade on margin for greater profits. IBRK also allows crypto trading.

Webull is a commission-free online brokerage with no deposit minimums and a wide range of features for both beginners and experienced traders. This trading platform was established in Delaware in 2017, has since been providing an excellent service for trading stocks, options, and ETFs.

Functionality and Ease of Use

What stands out about Webull is its easy-to-use interface. The platform was designed with the beginner trader in mind, so it is simple to navigate and understand. However, this does not mean that experienced traders will not find what they want.

To use the platform, you first need to create an account, which takes just a few minutes. Provide some basic information, verify your identity, and you can start trading.

The platform has a desktop and mobile version. Its app is available for iOS and Android, and offers all the desktop features.

If you have trouble accessing your account, you can contact the site's customer support via email, phone, and social media. Whether you are a newbie or a trader with a few tricks up your sleeve, Webull will not leave you disappointed.

Fees and Requirements

Webull is a commissionless platform for trading ETFs and stocks. It also has no inactivity or monthly maintenance fees.

Analytical Features and Order Execution

In terms of order execution, Webull offers a great experience. The platform is fast and reliable, and doesn’t fall short regarding analytical features, either. It provides all the standard indicators and charting tools, as well as unique options perfect for getting the most out of your trading experience.

Webull’s “paper trading” feature is a great way to test your strategies without putting any real money at risk. Another thing that makes Webull great is its research feature that provides insights and analysis from industry experts.

For example, you can use it to learn more about a particular stock before investing, which can be extremely helpful, especially for inexperienced traders.

Investment Options

Webull offers a great selection of investment opportunities: You can trade stocks, options, ETFs, and even cryptos. And if you want to learn more about how to trade different assets, the platform offers plenty of educational resources to help you get started.

TD Ameritrade is a full-service trading broker, and is one of the most popular trading platforms on the market. For over 45 years, TD Ameritrade has been helping traders of all levels achieve their financial goals and stay in control of their finances.

Today, this platform provides investing and trading services for 11 million client accounts, with more than $1 trillion in assets. It offers a wide range of investment options, access to global markets, and margin trading.

Functionality and Ease of Use

TD Ameritrade is a platform that can be used on Windows and macOS desktops. Thanks to its intuitive interface, it’s ideal for those who want complete control over their trading experience.

The mobile app is available for iOS and Android devices and offers all the platform's desktop features.

Fees and Requirements

Like some competitors, TD Ameritrade offers commission-free trading on stocks and ETFs. It also has no account minimum, so you can start trading with as much as you can afford.

TD Ameritrade’s fees are very competitive: It charges $0 per trade for stocks and ETFs and $0.65 per contract for options.

Analytical Features and Order Execution

TD Ameritrade includes all the tools you would expect, including some unique features, such as the ability to trade directly from the charts and create your own indicators. The bond wizard is another great tool that allows you to research and trade bonds.

When it comes to order execution, TD Ameritrade is one of the best on the market, with no requotes.

Investment Options

With TD Ameritrade, you can trade stocks, options, ETFs, mutual funds, bonds, and forex on many international markets.

And if you are looking to expand your trading knowledge, the platform offers plenty of educational resources to get you started on the path to becoming a successful trader.

E*TRADE is a leading financial services company that provides online broker and related services to individual investors, professional traders, and institutional investors.

The company offers a suite of investment products and services, including online trading, retirement planning, and banking.

It’s fully regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Functionality and Ease of Use

E*TRADE doesn’t have a desktop app, because it doesn’t need one! Instead, it has two web apps and two mobile apps. You might be wondering: “Isn’t that a bit too much?”

In most cases, we would agree with you, but each app offers different features and uses. The apps are called E*TRADE Mobile and E*TRADE Power. The web apps are identical to the mobile ones, but also provide screeners access.

While both apps are easy to use, the E*TRADE Mobile app is designed with beginners in mind and focuses mostly on casual investing, while the E*TRADE Power app is better for active day traders.

Both apps are completely free.

Fees and Requirements

E*TRADE doesn’t have any commission fees on stocks and ETF trades. Although it claims to have no commission on options, this isn't entirely accurate.

It still charges you $0.65 per contract, but there are no additional fees.

Also, if you have 30+ trades per quarter, the contract fee goes down to $0.50. Don’t worry - this is a standard practice but it’s something you should keep in mind.

If you are looking to trade on margin, you may want to look for other brokerages since E*TRADE's interest rates are on the high end - between 9.95% and 11.95%.

Analytical Features and Order Execution

E*TRADE provides a great selection of analytical tools for its clients. You can find almost everything you need to perform technical analysis on its web and mobile platforms.

The charts are interactive and come with impressive drawing and annotating tools. If you don’t have time to do your own research, the platform offers multiple third-party report options and analyst breakdowns to help you make better investment decisions.

Investment Options

E*TRADE gives you access to a wide range of investment options, including stocks, ETFs, mutual funds, bonds, options, and futures.

The company also provides a robot advisor service that will handle portfolio management on your behalf.

The biggest disadvantage of E*TRADE is that it limits you to the US market only. 

Firstrade is an online broker that offers a complete line of investment products and tools to investors worldwide. It has been helping traders of all levels achieve their financial goals for over 35 years.

With Firstrade, you can trade stocks, options, ETFs, mutual funds, bonds, and forex. The platform also offers a wide range of analytical instruments to help you make informed trading decisions.

Functionality and Ease of Use

If you wish to access your account while on the go, you can download the Firstrade mobile app available for iOS and Android.

You can create watchlists and use the built-in stock screener to find the stocks that meet your criteria. Besides this, you can also use Firstrade to research individual stocks, find mutual funds, and read market news.

Fees and Requirements

Firstrade is an affordable solution: It offers commission-free trading on stocks and ETFs, no account minimums, and $0 per trade for options. So if you are looking to find a platform with a wide range of investment products, Firstrade should be one of your top picks.

When it comes to margin trading, Firstrade has some of the lowest rates in the industry, which go as low as 4.50%. In addition to being one of the most affordable brokers on the market, Firstrade also offers various special services, such as IRA accounts, education planning, and more.

Analytical Features and Order Execution

Firstrade makes quick executions, so you never have to worry about requotes. Plus, you can trade directly from the charts and use the built-in technical indicators to make wise trading decisions.

Firstrade's wide range of tools, such as the heat map, stock screener, and option chains, will give you detailed information about any security or asset you want to trade.

Investment Options

Firstrade pretty much offers the same investment products as the other brokers from our list. You can trade stocks, options, ETFs, and mutual funds.

There are, however, a few cons to this brokerage firm, such as the lack of forex trading options or cryptocurrencies. There's also no futures trading, which might be a deal-breaker for some traders.

More commonly known as Charles Schwab, Charles Schwab Corporation is an American investment firm and financial services provider. The company was founded in 1971 by Charles R. Schwab, and has since grown into one of the largest brokerages in the United States. Today, Charles Schwab is one of the most renowned trading platforms, with 6.1 million daily average trades and over $7.8 trillion in client assets.

Functionality and Ease of Use

Charles Schwab has a desktop version and mobile app for all US residents. The app has a very sleek and uncomplicated design that makes navigation easy, and it is available for all Android and iOS devices.

The desktop version is more complex, but still relatively easy to use. Once you open your brokerage account, you will have access to in-depth analytical tools, educational materials, and multilingual customer support.

Fees and Requirements

Charles Schwab offers free stock trades and charges no commission for options and ETF trades. It provides cryptocurrency trading, too.

There is no minimum deposit required to open an account, but if you want to trade on margin, your account balance must be at least $2,000 in cash or marginable securities. There are no trade nor account minimums, and the company always puts customers first.

It has a “satisfaction guaranteed” policy and promises to refund all eligible fees and commissions to traders who aren’t completely satisfied.

You can also choose from various account types, each with its own set of features and benefits. These include individual, joint, and custodial accounts. You can also open an IRA, Roth IRA, or SEP IRA account.

Analytical Features and Order Execution

Charles Schwab offers a vast arsenal of analytical features, perfect for experienced and novice traders alike. You can find everything from real-time quote streaming, to customizable charts and graphs. There is also a wealth of educational materials available on the website.

This is a trustworthy platform: Your orders will be executed quickly and efficiently, and you can rest assured that your trades will go through. There is no risk of slippage or requotes.

Investment Options

Charles Schwab offers many investment choices, including stocks, ETFs, mutual funds, bonds, and options. The company also has a robo-advisor service called Intelligent Portfolios Premium. This service offers unlimited guidance from certified financial planning professionals, making Charles Schwab the best platform for beginners who can afford it.

This advanced feature comes with a one-time planning fee of $300 and a monthly advisory fee of $30. You can also trade forex and futures, if you wish. And if you're a trader looking for new investment options to test your trading strategy, you can always explore the Schwab marketplace.