Fortunly's Guide
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The Best Platform for Day Trading: Our Top 10 Picks

Written By
G. Dautovic
Updated
December 20,2022
Some or all of the products/services listed on this page are from our affiliate partners from which we receive commissions. This, however, does not influence the evaluations in our reviews. Learn more by reading our Advertiser Disclosure.

Not all trading platforms are created equal, and finding the best day trading platform among them is not easy. You need a service that can offer low trade fees, a variety of investment options, and is user-friendly. This is a tall order: Luckily, we have done the legwork for you and come up with a list of the best options available.

This article will compare the most popular platforms on the market and discuss their main features, look at their benefits and drawbacks, and help you choose the right match!

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Best for: Experienced active traders

Interactive Brokers

Interactive Brokers Logo
OVERVIEW

Interactive Brokers is a well-known and respected platform with over 40 years of trading experience. Interactive Brokers has become one of the top day trading platforms, primarily thanks to its wide range of investment options, low trade fees, and user-friendly interface. With Interactive Brokers, day traders from over 200 countries worldwide can access more than 150 markets to trade stocks, options, futures, mutual and exchange traded funds, bonds, and forex. Read Review

  • Excellent trading tools
  • Wide range of products
  • Low commissions and fees
Visit Site
On Official Website
Mobile App:
Yes
Commission:
$0 for stocks and ETFs for US residents
Inactivity fee:
No
Minimum deposit:
$0
Best for: Low-cost trading

Webull

Webull Logo
OVERVIEW

Webull is another popular trading platform offering commission-free stock trading, full extended-hours trading, ETF trading, and more. Although it’s one of the newer online brokers, Webull has quickly gained a loyal following among day traders. The thing that makes Webull one of the best brokers for day trading is that it offers fractional shares of even the most expensive stocks. Read Review

  • No minimum deposit
  • Real-time investment quotes
  • Cryptocurrency trading available
Visit Site
On Official Website
Mobile App:
Yes
Commission:
$0 for stocks, options, and ETFs
Inactivity fee:
No
Minimum deposit:
$0
Best for: Beginner traders

TD Ameritrade

TD Ameritrade Logo
OVERVIEW

TD Ameritrade is a renowned company that provides trading and investment services for 11 million client accounts. It offers 24/hour customer service, more than 100 commission-free ETFs, no account minimums, a large selection of investment options, and more. Besides all these features, TD Ameritrade has a mobile app that is very user-friendly for trading on the go. Read Review

  • Large investment selection
  • Excellent educational resources
  • High-quality trading platforms
Visit Site
On Official Website
Mobile App:
Yes
Commission:
$0 for stocks, options, and ETFs
Inactivity fee:
No
Minimum deposit:
$0
Best for: Margin accounts

Robinhood

Robinhood Logo
OVERVIEW

​​Robinhood is a commission-free stock trading platform that has gained a lot of popularity in recent years. Its streamlined interface and abundance of investment options are an excellent choice for those just setting off in the world of trading. With no account minimums nor trade fees, it’s an affordable choice and one of the top day trading platforms for beginners. Read Review

  • Good cash management features
  • No monthly fees
  • Allows fractional share trading
Visit Site
On Official Website
Mobile App:
Yes
Commission:
$0 for stocks, options, and ETFs
Inactivity fee:
No
Minimum deposit:
$0
Best for: Trading on the Chinese market

Moomoo

Moomoo Logo
OVERVIEW

Moomoo is a subsidiary of Futu Holdings, created specifically to cater to US traders. The company is California based, while Futa Holdings is Hong Kong-based; just like most similar platforms on the market, Moomoo offers commission-free stock, ETF, and options trading to US citizens. However, Moomoo does have one unique feature not many other brokerages can match: Access to the Chinese stock market. Read Review

  • Demo account
  • Access to the Chinese market
  • Futu Holdings is a publicly traded company
Visit Site
On Official Website
Mobile app:
Yes
Commission:
$0 for stocks, options, and ETFs
Inactivity fee:
No
Minimum deposit:
$0
Best for: Research

E*TRADE

E*TRADE Logo
OVERVIEW

E*TRADE is one of the best-known online brokers in the United States, used by day traders. With funds from their prior company, TradePlus, William A. Porter and Bernard A. Newcomb founded the E-Trade Financial Corporation, also known as E*TRADE, in 1991. In just three years, the company's revenue reached $10 million and has only continued to grow. Today, it’s one of the best day trading platforms on the market, offering its users a range of services, including online trading, investing in stocks, ETFs, mutual funds, bonds, options, and futures, as well as retirement planning, and banking. Read Review

  • Multiple apps
  • Trading platform tutorial
  • High level of investor protection
Visit Site
On Official Website
Mobile App:
Yes
Commission:
$0 for stocks, options, and ETFs
Inactivity fee:
No
Minimum deposit:
$0
Best for: International traders

TradeZero

TradeZero Logo
OVERVIEW

TradeZero began as a Bahama-based firm that provided international traders with access to the US market. Today, the company also has a branch in America and offers commission-free trading to its clients. Though commission-free trading has a little twist, which we'll get to later in the review, TradeZero remains one of the most popular day trading platforms for international clients. Read Review

  • SIPC-insured
  • No deposit fee for amounts of $500 and above
  • Accepts e-wallets
Visit Site
On Official Website
Mobile app:
Yes
Commission:
$0 for stocks, options, and ETFs from NYSE, AMEX, or NASDAQ
Inactivity fee:
Yes
Minimum deposit:
$2,500 for US residents; $500 for international traders
Best for: Commission-free trades

Firstrade

Firstrade Logo
OVERVIEW

If you are interested in finding the best stock trading platform for day trading, Firstrade is worth considering. This platform offers commission-free trades on stocks and ETFs. It comes with no account minimums and has an intuitive interface, making it a good choice for newbies and those who wish to simplify their day trading experience. Read Review

  • Commission-free mutual funds
  • International investing accounts
  • Extended hours trading
Visit Site
On Official Website
Mobile App:
Yes
Commission:
$0 for stocks, ETFs, and options
Inactivity fee:
No
Minimum deposit:
$0
Best for: Advanced traders

TradeStation

TradeStation Logo
OVERVIEW

TradeStation is popular among active day traders. It offers low trade commissions, advanced charting tools, and a variety of other features for those who want to take their trading to the next level. As one of the best online brokers for day trading, TradeStation also has an impressive mobile app that allows you to check your account, make trades, and track your portfolios via phone or tablet - an excellent choice for investors who don’t spend all day in the office. Read Review

  • Comprehensive research tools
  • Intuitive trading interfaces
  • Fully functional mobile app
Visit Site
On Official Website
Mobile App:
Yes
Commission:
$0 for stocks, options, and ETFs
Inactivity fee:
Yes
Minimum deposit:
$0
Best for: No-minimum index funds

Charles Schwab

Charles Schwab Logo
OVERVIEW

Charles Schwab is one of the leading financial companies in the United States and one of the oldest brokerage firms in existence. It offers a wide range of services, including banking, investing, and retirement planning. The company also provides a straightforward stock trading platform with commission-free trades on stocks and ETFs, making it a perfect fit for those who want to trade stocks on a daily basis. Read Review

  • Free stock and ETF trading
  • Extensive research base
  • Network of physical branches
Visit Site
On Official Website
Mobile App:
Yes
Commission:
$0 for stocks, options, and ETFs
Inactivity fee:
No
Minimum deposit:
$0

Things to Consider When Choosing a Day Trading Platform

We already mentioned a vast number of day trading platforms available on the market. However, not all offer the same services or have equally affordable fees, so it’s important to do your research: Here are some things that can help you make your final decision and choose the best trading platform for day traders.

Functionality and Ease of Use

The first thing you need to consider is the platform’s functionality and how easy it is to set up. The trading platform should make all the features you need to trade successfully accessible. Some platforms are geared towards experienced traders, while others are designed for beginners. It’s essential to find one suitable for your level of experience.

Some trading platforms may include mobile trading apps, but not all. If you decide to go with an exclusively web-based service, you will be able to connect from anywhere and avoid any maintenance costs.

On the other hand, a desktop platform will have more capabilities than a mobile one, but tie you to your computer. Think about how much flexibility you need and if that is more important than having abundant features.

Fees and Deposit Requirements

Another thing to consider about a day trading platform is its trading fees and minimum deposit requirement. Some platforms charge a flat rate per trade, while others take a percentage of the total amount. This can be crucial, especially if you are a frequent trader.

You need to make sure the fees are not too high and that you will be able to meet the minimum deposit requirement without any problems. Not all platforms require a minimum deposit; however, this is still something to keep in mind if you are starting with a small amount of money.

Analytical Features

The number of features at your disposal can make or break a deal with any product or software. When it comes to trading platforms, analytical tools will help you make the best possible decisions, and you should pay close attention to them when deciding which platform is best for day trading.

These features include charting tools, indicators, and other research materials to help you make informed decisions. The more information you have, the better your chances of profiting. Pattern recognition tools are also important, as they can help you predict future movements and take advantage of market trends.

Investment Options

Trading platforms also offer different investment options. For example, most trading platforms offer forex trading and stocks, but some may also provide options like CFDs, ETFs, and futures contracts.

Some of the best platforms for day trading also offer cryptocurrency trading and the possibility to short sell. Ensure the trading platform you choose provides the specific day trading investment options you’re interested in.

Platform Customization

All the previously mentioned features and tools won't be of much use if you cannot customize them according to your preferences. A flexible enough platform will allow you to tailor its interface, charts, and other tools to your liking.

You should also be able to save your settings for quick access. In other words, to be the best, a broker platform for day trading should possess as many customization tools as possible.

Order Execution

Last but not least, make sure the platform you choose offers fast and reliable order execution. Some platforms offer real-time market data while others do not, which will further affect how quickly you can make decisions. 

In either case, study up on order execution speeds of each platform before making your final decision. You should also pay attention to the available order types, including market, limit, stop, and stop-limit orders, as well as trailing stops.

Quick Breakdown

The Best Day Trading Platforms for 2023:

  • Interactive Brokers - Best for experienced active traders
  • Webull - Best for low-cost trading
  • TD Ameritrade - Best for beginner traders
  • Robinhood - Best for margin accounts
  • Moomoo - Best for trading on the Chinese market

  • E*TRADE - Best for research

  • Firstrade - Best for commission-free trades
  • TradeZero - Best for international traders

  • TradeStation - Best for advanced traders
  • Charles Schwab - Best for no-minimum index funds

Detailed Reviews of Day Trading Platforms

Interactive Brokers

4.5 stars Our Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Mobile App:
Yes
Commission:
$0 for stocks and ETFs for US residents
Inactivity fee:
No
Minimum deposit:
$0

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. With access to over 150 markets worldwide, this is one of the most popular day trading platforms.

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 trading 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

Those looking for the best low-cost day trading platform might not be so impressed with Interactive Brokers. It 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 the lowest commission rates might find some better solutions.

Analytical Features and Order Execution

To be the best day trading platform, a company must offer a wide range of analytical features and reliable order execution. Interactive Brokers delivers on both fronts. It is an advanced trading platform 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. And if you are looking for the best day trading platform for your crypto assets, Interactive Brokers will have you covered, as it offers the possibility to trade cryptocurrencies.

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Read Full Review

Webull

4.5 stars Our Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Mobile App:
Yes
Commission:
$0 for stocks, options, and ETFs
Inactivity fee:
No
Minimum deposit:
$0

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. As one of the best brokers in the industry, Webull offers various technical indicators and charting tools. Users can customize their trading experience, as this is an advanced platform.

Functionality and Ease of Use

What stands out about Webull and makes it one of the top day trading platforms 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, and those looking for the best mobile platform for day trading should definitely check it out. 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. If you are interested in finding the best platform for day trading options, Webull might be just what you need.

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 potentially the best platform for day trading 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. Whether you are looking for a place for day trading stocks or the best choice for trading cryptos, Webull has it all. 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.

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TD Ameritrade

5 stars Our Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Mobile App:
Yes
Commission:
$0 for stocks, options, and ETFs
Inactivity fee:
No
Minimum deposit:
$0

TD Ameritrade is a full-service trading broker, and is one of the most popular day 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.

To be the best, a mobile platform for day trading must offer a seamless experience and the same level of functionality as their desktop counterparts; this is no issue with TD Ameritrade. The 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. So if you are looking for the best stock platform for day trading, TD Ameritrade should be at the top of your list.

Analytical Features and Order Execution

TD Ameritrade includes all the tools you would expect from a top-notch day trading platform, 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. So, if you are looking for the best platform for day trading, you will find everything you need with TD Ameritrade.

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.

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Read Full Review

Robinhood

4.5 stars Our Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Mobile App:
Yes
Commission:
$0 for stocks, options, and ETFs
Inactivity fee:
No
Minimum deposit:
$0

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 stock trading apps on the market. The app has since expanded to include options trading, ETFs, and mutual funds.

Functionality and Ease of Use

Robinhood is one of the day trading platforms with 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

Although there is no straightforward answer to the question: “What is the best trading platform for day traders?” we can say that Robinhood is a great option, especially 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 and might not be the best day trading platform around. 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.

It might even be the best platform for day trading cryptocurrency for beginners. On the other hand, Robinhood does not offer forex or futures trading, so if these are your assets of choice, you might want to look elsewhere.

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Read Full Review

Moomoo

4.5 stars Our Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Mobile App:
Yes
Commission:
$0 for stocks, options, and ETFs
Inactivity fee:
No
Minimum deposit:
$0

Moomoo is one of the newer players in the online brokerage space, but don’t let that fool you into thinking it’s subpar. It’s a subsidiary of Futu Holdings, a Hong Kong-based company that went public on the Nasdaq in 2019.

Despite its newness, Moomoo has quickly become one of the best platforms for day trading, especially for people looking to trade in the Chinese market. If you are worried about the parent company being based in China, you don't have to be, as Futu and its subsidies are regulated by the SEC and FINRA.

Functionality and Ease of Use

The Moomoo app is available on both mobile (iOS, Android) and desktop (Windows, macOS) devices. There's no web-based platform at all, but the app is one of the best-designed trading apps we’ve seen.

The interface is clean and user-friendly, which makes it an excellent choice for beginners. Even though the app is feature-rich, it’s still easy to use. For example, the mobile version of the app allows you to set alerts and notifications relatively easily, so you don't miss any critical market movements.

Moomoo's desktop app is highly customizable. You can set up different workspaces with different layouts and tools. This is great for experienced traders who want everything they need at their fingertips. The app also has a good selection of charting tools.

Fees and Requirements

Moomoo doesn't charge commissions on stock, options, or ETF trades. However, the catch is that Moomoo's no-commission trades are only limited to US citizens trading in the US market. Anything outside of this scope will result in additional fees, whose height depends on the trading market.

It allows for the opening of accounts with no mandatory initial payment, just like other day trading platforms with no minimum deposit. It also doesn’t charge an inactivity fee. Those two go hand in hand in most companies.

The drawback is that you’ll be charged each time you want to deposit or withdraw money from the account. Domestic wire deposits come with an $8 fee, while the international fee is $25. The domestic withdrawal fee is $25, and the international fee is $45. Luckily, ACH deposits and withdrawals are free.

Analytical Features and Order Execution

When it comes to analytical features and order execution, Moomoo is top-notch. The company provides real-time market data and news for US stocks. You’ll also get access to Level 2 quotes from the NYSE ArcaBook, NYSE OpenBook, and NASDAQ TotalView, which is a considerable advantage for day trading.

Order execution is also swift. To be precise, each order is placed within 0.0037 seconds. This is one of the quickest order executions in the industry, as long as your internet connection is working properly. 

Investment Options

Moomoo doesn't give you access to a wide variety of assets, but you have everything you need for day trading, including stocks, ETFs, mutual funds, futures, and options.

While most best-day trading broker platforms focus solely on the US market, Moomoo allows you to trade on other markets as well. The Hong Kong, Singapore, Japan, and China markets are all available, but some of them have fairly limited trading options.

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E*TRADE

4.5 stars Our Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Mobile App:
Yes
Commission:
$0 for stocks, options, and ETFs
Inactivity fee:
No
Minimum deposit:
$0

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

Unlike other best broker platforms for day trading, 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

Just like the rest of the best day trade sites, 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 used by many day trading brokerages, 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.

You would expect one of the best day trading platforms to have reasonable fees and valuable apps, but those things won't make you a successful trader on their own. Only having access to the right tools and research materials will allow you to thrive in the market and stay ahead of the curve.

We live in an information age where data travels across the world in the blink of an eye, and you can expect the same when it comes to E*TRADE execution speed. In August, the average time for the S&P 500 was 0.12 seconds, while non-S&P 500 shares took 0.18 seconds. 

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. 

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TradeZero

3.5 stars Our Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Mobile App:
Yes
Commission:
$0 for stocks, options, and ETFs if you meet certain requirements
Inactivity fee:
Yes
Minimum deposit:
$2,500 for US residents; $500 for international traders

TradeZero is a US-based brokerage firm that was founded in 2015. The company provides commission-free trading for stocks, options, and ETFs. The company doesn’t only cater to US citizens. It also offers accounts to international traders without US citizenship.

Functionality and Ease of Use

Individual, joint, and corporate accounts are all available at TradeZero.

It also gives numerous applications depending on your device, as well as a web-based app.

Fees and Requirements

Accounts can be opened fast but require a minimum deposit of $2,500 for US citizens and $500 for the rest. There isn’t an inactivity fee per se. Instead of it, there’s an unqualified account fee that is applied to all accounts with a balance of less than $100 (but not $0), without securities, and no trading activity in the previous quarter. The fee is $5, and it’s applied quarterly until the account balance reaches zero.

Most brokerage firms will let you open a day trading account without a minimum deposit or inactivity fee. However, most of those firms operate only in the US, while TradeZero is one of the rare ones that provides international trading. Whether that warrants a change to something that has become a new industry standard will depend on your situation.

The company has free and paid orders. Free orders are all market or limit orders shares sold on NYSE, Nasdaq, or AMEX, and valued at over $1 per share. Any stock below $1 is considered a paid order and will be charged $0.005 per share with a $0.99 minimum and a $7.95 maximum.

On the other hand, options contracts have a base fee of $0.25 per contract with no minimum or maximum, for US traders. For international traders, the fees are a bit different. Orders with fewer than 200 orders will be charged a flat $0.99 fee, and options cost $0.59 per contract.

Analytical Features and Order Execution

The analytical tools make this platform one of the best day trading sites, and order execution is equally good. It provides Level 2 market data for stocks, which is the kind of information only professional traders had access to in the past. And they offer it for free.

Therefore, if you want to get into day trading, TradeZero might be a good choice. The only downside is that it doesn't provide any trading ideas, so you'll have to do your own research. Luckily for you, it does provide you with ample customizable tools for that purpose.

Investment Options

You can trade stocks, options, and ETFs on this platform, so it has everything a day trader needs. The only things missing are futures and forex. Still, those markets are best suited for long-term trading, so it's not an insurmountable obstacle for day trading.

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Firstrade

4 stars Our Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Mobile App:
Yes
Commission:
$0 for stocks, ETFs, and options
Inactivity fee:
No
Minimum deposit:
$0

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 are looking for the best day trading platform as a Mac or PC user, Firstrade is a great option. 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 the best 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 the best online trading platform for day traders 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.

To become the best broker platform for day trading, an online broker must implement various analytical features, and Firstrade understands that perfectly. Its 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.

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TradeStation

4.5 stars Our Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Mobile App:
Yes
Commission:
$0 for stocks, options, and ETFs
Inactivity fee:
Yes
Minimum deposit:
$0

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 the best day trading 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.

As one of the best trading platforms for day trading, 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 TradeStation’s 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

“What is the best platform for day trading?” is a question often asked by aspiring investors, but the answer will always vary depending on individual needs. Nonetheless, TradeStation’s versatility makes it a strong contender for most potential clients.

The analytical features in its 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. And, if you are looking for the best platform for day trading cryptocurrency, you will be happy to know that the TradeStation Crypto app is designed precisely for that. The app is perfect for day trading Bitcoin and other popular cryptocurrencies.

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Charles Schwab

5 stars Our Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Mobile App:
Yes
Commission:
$0 for stocks, options, and ETFs
Inactivity fee:
No
Minimum deposit:
$0

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 day trading platforms, with 6.1 million daily average trades and over $7.8 trillion in client assets.

Functionality and Ease of Use

Like most top day trading platforms, 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, so if you’re looking to find the best day trading platform for cryptocurrency, you might want to give this online broker a chance.

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

As one of the best day trading platforms, 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.

Charles Schwab 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 day trading 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 day trader looking for new investment options to test your trading strategy, you can always explore the Schwab marketplace.

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FAQ

What is the three-day rule in stocks?

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The three-day rule in stock trading requires investors to wait at least three days before buying stocks whose price has significantly dropped. The 72-hour rule is intended to allow investors time to research the security and make an informed decision about whether to buy it.

Although it's not set in stone, this practice is generally recommended for long-term investors and can help them avoid buying stocks that are likely to plummet in price even further.

Is day trading still profitable?

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Yes, day trading is still profitable for those who know what they're doing. However, it's important to note that it is a high-risk activity, and you can lose money if you're not careful.

If you're new to day trading, it's best to start with small amounts of money and gradually increase your investment size as you gain experience. Before risking actual money, you can also try using a demo account, which you’ll find on any best day trading platform candidate.

Why do you need $25k to day trade?

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You need $25,000 to day trade on margin because the Pattern Day Trader Rule (PDTR) requires you to have it in your account if you want to make more than three day trades in a five-day period. The rule is in place to protect pattern day traders from taking on too much risk.