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Best Day Trading Platforms and Brokers in 2024

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Written By
James Barra
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Written By
James Barra
James is an investment writer with a background in financial services. As a former management consultant, he has worked on major operational transformation programmes at prominent European banks. James authors, edits and fact-checks content for a series of investing websites.
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Edited By
William Berg
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Edited By
William Berg
William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.
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Fact Checked By
Jemma Grist
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Fact Checked By
Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
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Updated
Nov 20, 2024

The best brokers for day trading offer low fees, excellent charting platforms, fast execution, access to global markets, support trading with leverage, and provide accessible minimum deposits. They are also trusted. Every brokerage we recommend in this guide meets these criteria.

Top 10 Platforms For Day Trading

We have reviewed 265 brokers as of (November 2024) and found that these are the 10 best platforms for day trading. Every day trading broker was evaluated using real money or a test account.

Click a broker for details
  1. 1
    FOREX.com
    Active Trader Program With A 15% Reduction In Costs
    Ratings
    4.9 / 5
    4 / 5
    4.3 / 5
    4.6 / 5
    4.6 / 5
    4.3 / 5
    4.8 / 5
    4.5 / 5
    3.6 / 5
    3.8 / 5
    $100
    0.01 Lots
    1:50
    NFA, CFTC
    Forex, Stocks, Futures, Futures Options
    MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
    Wire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH Transfer
    USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN
    Go To FOREX.com
  2. 2
    NinjaTrader
    Ratings
    4.3 / 5
    2.8 / 5
    2.9 / 5
    4.3 / 5
    4.5 / 5
    4 / 5
    4 / 5
    4 / 5
    3 / 5
    3.2 / 5
    $0
    0.01 Lots
    1:50
    NFA, CFTC
    Forex, Stocks, Options, Commodities, Futures, Crypto
    NinjaTrader Desktop, Web & Mobile, eSignal
    ACH Transfer, Debit Card, Wire Transfer, Cheque
    USD
    Go To NinjaTrader
  3. 3
    eToro USA
    Invest $100 and get $10
    Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk. https://www.daytrading.com/ is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.
    Ratings
    4.3 / 5
    3 / 5
    3.9 / 5
    3.4 / 5
    4 / 5
    3 / 5
    4.3 / 5
    4.5 / 5
    4.3 / 5
    4 / 5
    $100
    $10
    SEC, FINRA
    Stocks, Options, ETFs, Crypto
    eToro Trading Platform & CopyTrader
    ACH Transfer, Debit Card, PayPal, Wire Transfer
    USD
    Go To eToro USA
  4. 4
    Interactive Brokers
    Ratings
    4.5 / 5
    3.5 / 5
    4.6 / 5
    4.3 / 5
    3.3 / 5
    3 / 5
    4.4 / 5
    4.3 / 5
    4.3 / 5
    4.5 / 5
    $0
    $100
    1:50
    FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM
    Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
    Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
    Cheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit Card
    USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF
    Go To Interactive Brokers
  5. 5
    IG
    Forex trading involves risk. Losses can exceed deposits.
    Ratings
    4.9 / 5
    4 / 5
    4.5 / 5
    3.5 / 5
    4.9 / 5
    4.5 / 5
    4.9 / 5
    5 / 5
    4.6 / 5
    4 / 5
    $0
    0.01 Lots
    1:30 (Retail), 1:250 (Pro)
    FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
    Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral
    PayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit Card
    USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD
    Go To IG
  6. 6
    Pocket Option
    50% Deposit Bonus
    Ratings
    2 / 5
    3.5 / 5
    2.5 / 5
    3.5 / 5
    3.3 / 5
    3.3 / 5
    3 / 5
    3.5 / 5
    4 / 5
    4.2 / 5
    $50
    $1
    MISA
    Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos
    Web, MT4, MT5
    Wire Transfer, Credit Card, Bitcoin Payments, Volet, Perfect Money, Visa, Mastercard, Debit Card, WebMoney, FasaPay, Ethereum Payments, Maestro, JetonCash, Airtel
    USD
    Go To Pocket Option
  7. 7
    IQCent
    20% to 200% Deposit Bonus
    Ratings
    2.5 / 5
    3.3 / 5
    2.4 / 5
    4.3 / 5
    3.8 / 5
    2.5 / 5
    3 / 5
    2 / 5
    4.3 / 5
    4.1 / 5
    $250
    $0.01
    1:500
    IFMRRC
    Binary Options, CFDs, Forex, Indices, Commodities, Crypto
    Online Platform, TradingView
    Credit Card, Debit Card, Wire Transfer, Bitcoin Payments, Ethereum Payments, Visa, Mastercard
    USD, EUR
    Go To IQCent
  8. 8
    RedMars
    Ratings
    3.3 / 5
    3.5 / 5
    3.8 / 5
    3.5 / 5
    3.8 / 5
    4 / 5
    2.8 / 5
    3 / 5
    4.7 / 5
    4.6 / 5
    €250
    0.01 Lots
    1:30 (Retail), 1:500 (Pro)
    CySEC, AFM
    CFDs, Forex, Stocks, Indices, Commodities, Cryptos
    MT5
    Credit Card, Wire Transfer, Debit Card, Sticpay, FasaPay, Bitcoin Payments, Trustly, PayPal, Skrill, Neteller, Klarna, Mastercard, Visa
    USD, EUR
    Go To RedMars
  9. 9
    OANDA US
    CFDs are not available to residents in the United States.
    Ratings
    4.5 / 5
    3.5 / 5
    2.8 / 5
    4 / 5
    4.5 / 5
    3.5 / 5
    4.3 / 5
    3.8 / 5
    4.7 / 5
    3.7 / 5
    $0
    0.01 Lots
    1:50
    NFA, CFTC
    Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)
    OANDA Trade, MT4, TradingView, AutoChartist
    Wire Transfer, Visa, Mastercard, Debit Card, ACH Transfer
    USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD
    Go To OANDA US
  10. 10
    Moomoo
    Get up to 15 free stocks worth up to $2000
    Ratings
    4.7 / 5
    3.3 / 5
    3 / 5
    3.8 / 5
    3 / 5
    2.8 / 5
    3.8 / 5
    4.4 / 5
    4.6 / 5
    3.3 / 5
    $0
    $0
    1:2
    SEC, FINRA, MAS, ASIC, SFC
    Stocks, Options, ETFs, ADRs, OTCs
    Desktop Platform, Mobile App
    Wire Transfer, ACH Transfer
    USD, HKD, SGD
    Go To Moomoo

Here is a short summary of why we think each broker belongs in this top list:

  1. FOREX.com - Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
  2. NinjaTrader - NinjaTrader is a US-headquartered and regulated brokerage that specializes in futures trading. There are three pricing plans to suit different needs and budgets, as well as ultra-low margins on popular contracts. The brand's award-winning charting software and trading platform also offers a high-degree of customization and superb technical analysis features.
  3. eToro USA - eToro is a social investing platform that offers short-term and long-term trading on stocks, ETFs, options and crypto. The broker is well-known for its user-friendly community-centred platform and competitive fees. With FINRA and SIPC oversight and millions of users across the world, eToro is still one of the most respected brands in the industry. eToro securities trading is offered by eToro USA Securities, Inc.
  4. Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
  5. IG - Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
  6. Pocket Option - Established in 2017, Pocket Option is a binary options broker offering high/low contracts on forex, stocks, indices, commodities and cryptocurrencies. With over 100,000 active users and a global reach, the platform continues to prove popular with budding traders.
  7. IQCent - IQCent is an offshore binary options and CFD broker based in the Marshall Islands. The brand continues to offer a range of unique account types with bonuses and perks, including payout boosts, TradeBacks and free rollovers. With 100+ assets, around-the-clock trading and 98% payouts, the firm is popular with aspiring short-term traders.
  8. RedMars - Launched in 2020, Cyprus-based RedMars offers competitive spreads on more than 300 instruments and leverage up to 1:500. Three accounts are available - Standard, Pro and VIP - serving a range of budgets and experience levels, with a fast and fully digital account opening process.
  9. OANDA US - OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available for short-term traders, alongside flexible contract sizes and automated trade executions.
  10. Moomoo - Moomoo is an SEC-regulated app-based investment platform that offers a straightforward and affordable way to invest in Chinese, Hong Kong, Singaporean, Australian and US stocks, ETFs and other assets. Margin trading is available and the brand offers a zero-deposit account as well as several bonuses.

Best Day Trading Platforms and Brokers in 2024 Comparison

Best Day Trading Platforms and Brokers in 2024 Comparison
Broker Minimum Deposit Markets Platforms Leverage
FOREX.com logo
$100 Forex, Stocks, Futures, Futures Options MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral 1:50
NinjaTrader logo
$0 Forex, Stocks, Options, Commodities, Futures, Crypto NinjaTrader Desktop, Web & Mobile, eSignal 1:50
eToro USA logo
$100 Stocks, Options, ETFs, Crypto eToro Trading Platform & CopyTrader -
Interactive Brokers logo
$0 Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral 1:50
IG logo
$0 CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral 1:30 (Retail), 1:250 (Pro)
Pocket Option logo
$50 Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos Web, MT4, MT5 -
IQCent logo
$250 Binary Options, CFDs, Forex, Indices, Commodities, Crypto Online Platform, TradingView 1:500
RedMars logo
€250 CFDs, Forex, Stocks, Indices, Commodities, Cryptos MT5 1:30 (Retail), 1:500 (Pro)
OANDA US logo
$0 Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA) OANDA Trade, MT4, TradingView, AutoChartist 1:50
Moomoo logo
$0 Stocks, Options, ETFs, ADRs, OTCs Desktop Platform, Mobile App 1:2

FOREX.com

"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."

Christian Harris, Reviewer

FOREX.com Quick Facts

Bonus OfferActive Trader Program With A 15% Reduction In Costs
Demo AccountYes
InstrumentsForex, Stocks, Futures, Futures Options
RegulatorNFA, CFTC
PlatformsMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:50
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN

Pros

  • Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
  • The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
  • There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.

Cons

  • Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
  • Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
  • FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
Visit FOREX.com
FOREX.com Review

NinjaTrader

"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."

Tobias Robinson, Reviewer

NinjaTrader Quick Facts

Demo AccountYes
InstrumentsForex, Stocks, Options, Commodities, Futures, Crypto
RegulatorNFA, CFTC
PlatformsNinjaTrader Desktop, Web & Mobile, eSignal
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:50
Account CurrenciesUSD

Pros

  • NinjaTrader is a widely respected and award-winning futures broker and is heavily authorized by the NFA and CFTC
  • Traders can get free platform access and trade simulation capabilities in the unlimited demo
  • You can get thousands of add-ons and applications from developers in 150+ countries

Cons

  • The premium platform tools come with an extra charge
  • There is a withdrawal fee on some funding methods
  • Non forex and futures trading requires signing up with partner brokers
Visit NinjaTrader
NinjaTrader Review

eToro USA

"eToro remains a top pick for traders looking for leading social investing and copy trading services. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer day traders."

Jemma Grist, Reviewer

eToro USA Quick Facts

Bonus OfferInvest $100 and get $10
Demo AccountYes
InstrumentsStocks, Options, ETFs, Crypto
RegulatorSEC, FINRA
PlatformseToro Trading Platform & CopyTrader
Minimum Deposit$100
Minimum Trade$10
Account CurrenciesUSD

Pros

  • Investors can access Smart Portfolios for a more hands-off approach, covering a range of sectors and markets such as renewable energy and artificial intelligence
  • eToro USA Securities is a trustworthy, SEC-regulated broker that is a member of FINRA and SIPC
  • A free demo account means new users and prospective day traders can try the broker risk-free

Cons

  • There's a narrower range of day trading instruments available compared to competitors, with only stocks, ETFs and cryptos
  • Average fees may cut into the profit margins of day traders
  • The proprietary terminal doesn't support trading bots and there are no additional stock market analysis tools
Visit eToro USA
eToro USA Review

Interactive Brokers

"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."

Christian Harris, Reviewer

Interactive Brokers Quick Facts

Demo AccountYes
InstrumentsStocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
RegulatorFCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM
PlatformsTrader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
Minimum Deposit$0
Minimum Trade$100
Leverage1:50
Account CurrenciesUSD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF

Pros

  • While primarily geared towards experienced traders, IBKR has made moves to broaden its appeal in recent years, reducing its minimum deposit from $10,000 to $0.
  • The TWS platform has clearly been built for intermediate and advanced traders and comes with over 100 order types and a reliable real-time market data feed that rarely goes offline.
  • With low commissions, tight spreads and a transparent fee structure, IBKR delivers a cost-effective environment for short-term traders.

Cons

  • IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
  • You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
  • Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
Visit Interactive Brokers
Interactive Brokers Review

IG

"IG continues to provide a comprehensive package with an intuitive web platform, best-in-class education for beginners, advanced charting tools bolstered by its recent TradingView integration, real-time data, and fast execution speeds for experienced day traders."

Christian Harris, Reviewer

IG Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
RegulatorFCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM
PlatformsWeb, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:250 (Pro)
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD

Pros

  • IG is amongst the best in terms of its range of instruments, which includes stocks, forex, indices, commodities, and cryptocurrencies, plus recently added US-listed futures and options, providing ample diversification opportunities.
  • The IG app offers a superb mobile trading experience with a clean design that helped it secure Runner Up at our 'Best Trading App' award.
  • The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for day trading, while IG has also added TradingView integration.

Cons

  • Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges.
  • Stock and CFD spreads still trail the cheapest brokers like CMC Markets based on tests.
  • IG has discontinued its swap-free account, reducing its appeal to Islamic traders.
Visit IG
IG Review

Pocket Option

"Pocket Option excels for its easy-to-use web platform which provides a best-in-class user experience for short-term binary traders. The $50 minimum deposit is also accessible for beginners while opening an account is really easy. Looking at the negatives, Pocket Option still trails alternatives in its market offering and regulatory credentials."

Jemma Grist, Reviewer

Pocket Option Quick Facts

Bonus Offer50% Deposit Bonus
Demo AccountYes
InstrumentsBinary Options, Currencies, Commodities, Stocks, Indices, Cryptos
RegulatorMISA
PlatformsWeb, MT4, MT5
Minimum Deposit$50
Minimum Trade$1
Account CurrenciesUSD

Pros

  • The range of payment methods beats the majority of rivals, providing fast, secure and convenient deposits for traders in most countries
  • The MetaTrader platforms offer integrated analysis with helpful technical summaries for short-term traders
  • Extremely fast and smooth sign-up process that takes less than 2 minutes

Cons

  • The maximum binary contract length of 4 hours is restrictive for longer-term trading strategies. Alternatives like Videforex offer binaries up to 1 month
  • Despite offering competitive payouts up to 92%, binary brokers like IQCent offer higher returns up to 98% based on tests
  • The MISA is a weak regulator with limited investor protection for retail traders
Visit Pocket Option
Pocket Option Review

IQCent

"IQCent will appeal to day traders looking for a straightforward binary options and CFD trading platform with low fees, a range of accounts, and copy trading. Getting started takes less than 1 minute and a $250 deposit. "

Jemma Grist, Reviewer

IQCent Quick Facts

Bonus Offer20% to 200% Deposit Bonus
Demo AccountYes
InstrumentsBinary Options, CFDs, Forex, Indices, Commodities, Crypto
RegulatorIFMRRC
PlatformsOnline Platform, TradingView
Minimum Deposit$250
Minimum Trade$0.01
Leverage1:500
Account CurrenciesUSD, EUR

Pros

  • Keen traders can take part in trading contests with cash prizes
  • The broker's 24/7 customer support is fast and reliable, responding within 1 minute during tests
  • CFD trading fees are competitive based on tests, including 0.7 pips on major forex pairs such as EUR/USD

Cons

  • The market analysis is very basic with limited technical summaries and insights from analysts
  • IQCent charges a punitive $10 monthly inactivity fee if you fail to place at least 1 trade per month
  • The broker is not overseen by a respected regulator, though this is common among binary options firms
Visit IQCent
IQCent Review

RedMars

"RedMars is the best fit for experienced day traders familiar with the MetaTrader 5 platform and based in the EU, where the broker is authorized by the CySEC. However, the threadbare education and research tools make it unsuitable for beginners."

Christian Harris, Reviewer

RedMars Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Cryptos
RegulatorCySEC, AFM
PlatformsMT5
Minimum Deposit€250
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:500 (Pro)
Account CurrenciesUSD, EUR

Pros

  • Getting started on RedMars is incredibly easy - you can be up and running in just a few minutes based on tests
  • RedMars offers one of the best platforms for day trading, MT5, hosting 21 timeframes, dozens of analytical tools, flexible templates and algo trading
  • The broker supports a range of flexible payment methods, including wire transfers, credit cards, e-wallets, and notably cryptocurrencies

Cons

  • RedMars falls short for newer traders, with little in the way of education, no beginner-friendly platform, a steep minimum deposit, and inadequate support during testing
  • With just 300 instruments, RedMars offers a narrow trading environment, particularly compared to category leaders like BlackBull Markets which offers 26,000 assets
  • While RedMars' spreads are within industry averages, they don't offer a significant edge over the cheapest day trading brokers we've personally used, notably IC Markets
Visit RedMars
RedMars Review

OANDA US

"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."

Jemma Grist, Reviewer

OANDA US Quick Facts

Demo AccountYes
InstrumentsForex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)
RegulatorNFA, CFTC
PlatformsOANDA Trade, MT4, TradingView, AutoChartist
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:50
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD

Pros

  • The broker's API facilitates access to 25 years of deep historical data and rates from 200+ currencies
  • OANDA is a reliable, trustworthy and secure brand with authorization from tier-one regulators including the CFTC
  • Day traders can enjoy fast and reliable order execution

Cons

  • It's a shame that customer support is not available on weekends
  • The range of day trading markets is limited to forex and cryptos only
  • There's only a small range of payment methods available, with no e-wallets supported
Visit OANDA US
OANDA US Review

Moomoo

"Moomoo remains an excellent choice for new and intermediate stock traders who want to build a diverse investment portfolio. What really stands out is the broker's user-friendly app and the low trading fees."

Jemma Grist, Reviewer

Moomoo Quick Facts

Bonus OfferGet up to 15 free stocks worth up to $2000
Demo AccountYes
InstrumentsStocks, Options, ETFs, ADRs, OTCs
RegulatorSEC, FINRA, MAS, ASIC, SFC
PlatformsDesktop Platform, Mobile App
Minimum Deposit$0
Minimum Trade$0
Leverage1:2
Account CurrenciesUSD, HKD, SGD

Pros

  • It is reassuring that Moomoo holds licenses with the US Securities and Exchange Commission (SEC) and the Monetary Authority of Singapore (MAS), among others
  • There are reduced options contract fees from $0.65 to $0
  • There is no minimum deposit requirement making the broker accessible for beginners

Cons

  • There is no negative balance protection, which is a common safety feature at top-tier-regulated brokers
  • It's a shame that there is no 2 factor authentication (2FA), despite the other security features on offer
  • There is no phone or live chat support - common options at most other brokers
Visit Moomoo
Moomoo Review

How We Rate Day Trading Brokers

Below, we explain the key factors our team considers when comparing day trading platforms.

Trust

Choosing a trustworthy day trading broker is the most important consideration. This will help protect you from scams and unfair trading practices while safeguarding your funds.

We only recommend day trading platforms that we trust, an assessment we continuously make by considering the quality of regulatory licenses, the broker’s years in the industry, and their reputation.

You can see which bodies regulate our best brokers below.

Top Platforms For Day Trading - Regulator Data
FOREX.com NinjaTrader eToro USA Interactive Brokers IG
Trust Rating
Regulators NFA, CFTC NFA, CFTC SEC, FINRA FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM
Visit Visit Visit Visit
eToro USA LLC and eToro USA Securities Inc.; Investing involves risk, including loss of principal; Not a recommendation
 Visit Visit
Review Review Review Review Review Review

Fees

Choosing a broker with low fees is critical when you are day trading because a large volume of trades can lead to significant costs, impacting overall profitability.

Our recommended platforms offer low day trading fees, an evaluation we make year-on-year by recording and comparing trading and non-trading fees.

Day trading spreads on forex at CMC Markets
CMC Markets – Fees

Importantly, we also weigh costs with the quality of the services provided – if you simply pick the broker with the lowest fees, you might compromise on platform features or face hidden costs later.

You can compare the typical fees you will incur at our best brokers below.

Top Platforms For Day Trading - Fee Data
FOREX.com NinjaTrader eToro USA Interactive Brokers IG
Fee Rating
EUR/USD Spread 1.2 1.3 0.08-0.20 bps x trade value 0.8
Oil Spread 2.5 0.25-0.85 2.8
Stock Fee 0.14 $0 0.003 0.02
Inactivity Fee $15 $25 $10 $0 $12
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Platforms

Choosing a broker with a high-quality charting platform is essential for day trading because most intraday traders use technical analysis to identify trading opportunities.

Most brokers offer several platforms to choose from; some will tick the boxes for the average day trader with an intuitive design and user-friendly interface, while others offer more advanced charting packages and analysis tools for the veteran trader.

I recommend using a demo account to make sure the platform works for you.

A demo account will allow you to explore the platform risk-free and assess the broker’s reliability before trading with real money.

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James Barra
Author
Day trading on MetaTrader 4 platform
MetaTrader 4 Platform

Our recommended brokers offer top-rate platforms, an assessment we routinely make by testing the software available and evaluating their usability, charting packages and trading tools.

You can compare the platforms and apps available at our best brokers below.

Top Brokers For Day Trading - Platform Data
FOREX.com NinjaTrader eToro USA Interactive Brokers IG
Platform Rating
Charting Platforms MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral NinjaTrader Desktop, Web & Mobile, eSignal eToro Trading Platform & CopyTrader Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral
Mobile App iOS & Android iOS & Android iOS & Android iOS & Android iOS & Android
Automated Trading Expert Advisors (EAs) on MetaTrader NinjaScript or via Automated Trading Interface No Capitalise.ai & TWS API Expert Advisors (EAs) on MetaTrader, build your own on ProRealTime
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Markets

Choosing a broker that provides trading opportunities on the markets you are interested in is critical, as not every firm offers every asset type.

Our recommended brokers provide access to popular global markets, such as stocks, forex and commodities, something we confirm by signing in to brokers’ platforms to record the assets available.

We also consider the availability of trading vehicles that cater specifically to day traders, such as contracts for difference (CFDs). This derivative allows you to speculate on rising and falling prices without owning the underlying asset.

You can compare the financial markets available at our best brokers below.

Top Platforms For Day Trading - Markets Data
FOREX.com NinjaTrader Interactive Brokers eToro USA IG
Markets Rating
Day Trading Markets Forex, Stocks, Futures, Futures Options Forex, Stocks, Options, Commodities, Futures, Crypto Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies Stocks, Options, ETFs, Crypto CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
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Note market access may vary depending on jurisdictional rules.

Order Execution

Choosing a broker with fast execution speeds is crucial for day trading due to the rapid pace of market fluctuations. A delay in order execution could lead to you missing trades or less favorable prices.

Execution quality is also a critical consideration and encompasses factors like speed, price, and the probability of execution, helping to gauge whether you will secure the optimal trade.

Infographic showing importance of day trading brokers offering good execution quality

Our recommended platforms offer fast and reliable execution, a judgement we make by reviewing execution policies and considering average execution speeds (where data is available).

You can see whether our best brokers meet our execution benchmarks below.

Top Platforms For Day Trading - Order Execution Data
FOREX.com NinjaTrader Interactive Brokers eToro USA IG
Fast Execution Yes Yes Yes Yes Yes
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Leverage & Margin RequirementsInfographic showing the benefits and risks of using leverage on day trading platforms

Choosing a broker with access to leverage trading is an important consideration for day trading, as it can magnify your profits by enabling control of larger positions with less capital.

However, it also escalates the risk of larger losses, so beginners in particular should be very careful. Effective risk management is crucial, alongside an awareness of your broker’s margin requirements which set the minimum capital you need.

You can compare the leverage available at our best brokers below.

Top Platforms For Day Trading - Leverage Data
FOREX.com NinjaTrader Interactive Brokers eToro USA IG
Margin Trading Yes Yes Yes Yes Yes
Leverage Available 1:50 1:50 1:50 1:30 (Retail), 1:250 (Pro)
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Note leverage may vary depending on jurisdictional rules and the market being traded.

Minimum Deposit

Choosing a broker with a low minimum deposit will be particularly important for new day traders on a budget.

Our recommend day trading platforms have achievable entry requirements, an evaluation we make by weighing the minimum investment with the suitability of accounts for different traders, from beginners through to intermediate and advanced traders.

You can compare the account minimums at our best brokers below.

Top Platforms For Day Trading - Minimum Investment Data
FOREX.com NinjaTrader Interactive Brokers eToro USA IG
Minimum Deposit $100 $0 $0 $100 $0
Minimum Trade 0.01 Lots 0.01 Lots $100 $10 0.01 Lots
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Methodology

To find the best brokers for day trading we considered quantitative data and qualitative insights gathered during our comprehensive reviews, focusing on 7 criteria:

  • We verified that brokers are authorized by a trusted regulator 
  • We recorded and analyzed the fees you will encounter when day trading
  • We tested the suitability of the platform for short-term traders
  • We compared the markets available for day trading
  • We investigated the speed of order executions
  • We determined the level of support for leveraged trading
  • We checked the minimum deposit required to start trading

Infographic showing why DayTrading.com day trading broker reviews are the best

Bottom Line

Choosing a broker for day trading is a personal decision that will depend on your individual needs. However, our selection of top-rated platforms is a great place to start. Our exhaustive evaluation process takes into account the key factors that determine a broker’s suitability for short-term trading.

FAQ

What Is Day Trading?

Day trading is a strategy where individuals buy and sell financial instruments within the same trading day, seeking to profit from short-term price movements.

What Are The Benefits Of Day Trading?

Day trading offers the potential for fast profits as traders take advantage of short-term price fluctuations. Additionally, day traders can operate with reduced overnight risk since they often close positions before the market closes.

What Are The Risks Of Day Trading?

Day trading entails several risks. Firstly, there is the risk of financial loss if you make losing trades because of market volatility and emotional decision-making.

There is also the risk of signing up with fraudulent brokers operating scams, making it important to choose a trusted and regulated day trading broker.

Do I Need A Broker To Day Trade?

Yes, you normally need a broker to day trade. Your broker will provide a platform and the infrastructure to execute intraday trades in financial markets.

What Brokers Do Day Traders Use?

We have ranked the best brokers for day traders. In conducting our comparison, we considered multiple factors, from regulatory credentials and fees to the quality of the platform for intraday trading, the speed of order executions, and the minimum deposit to open an account.

How Do I Open A Day Trading Account?

To open a day trading account you will need to sign up with a broker. You usually need to provide basic contact details and information about your trading experience and source of funds, a process which often takes around 15 minutes.

Most regulated day trading brokers also need to verify your identity and address before you can unlock all trading features.

How Much Money Do I Need To Start Day Trading?

Account minimums vary between day trading platforms. Some require thousands of dollars in return for sophisticated features that cater to advanced traders. Alternatively, many brokers have an accessible minimum deposit of less than $500. Some brokerages even have no minimum deposit.

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