Best Day Trading Platforms and Brokers in 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.
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1
FOREX.comActive Trader Program With A 15% Reduction In Costs
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.01 Lots1:50NFA, CFTCForex, Stocks, Futures, Futures OptionsMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentralWire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN -
2
NinjaTrader
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:50NFA, CFTCForex, Stocks, Options, Commodities, Futures, CryptoNinjaTrader Desktop, Web & Mobile, eSignalACH Transfer, Debit Card, Wire Transfer, ChequeUSD -
3
eToro USAInvest $100 and get $10Securities 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/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$100$10SEC, FINRAStocks, Options, ETFs, CryptoeToro Trading Platform & CopyTraderACH Transfer, Debit Card, PayPal, Wire TransferUSD -
4
Interactive Brokers
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$0$1001:50FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFMStocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, CryptocurrenciesTrader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentralCheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit CardUSD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF -
5
IGForex trading involves risk. Losses can exceed deposits.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:30 (Retail), 1:250 (Pro)FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFMCFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread BettingWeb, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentralPayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit CardUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD -
6
Pocket Option50% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$50$1MISABinary Options, Currencies, Commodities, Stocks, Indices, CryptosWeb, MT4, MT5Wire Transfer, Credit Card, Bitcoin Payments, Volet, Perfect Money, Visa, Mastercard, Debit Card, WebMoney, FasaPay, Ethereum Payments, Maestro, JetonCash, AirtelUSD -
7
IQCent20% to 200% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$250$0.011:500IFMRRCBinary Options, CFDs, Forex, Indices, Commodities, CryptoOnline Platform, TradingViewCredit Card, Debit Card, Wire Transfer, Bitcoin Payments, Ethereum Payments, Visa, MastercardUSD, EUR -
8
RedMars
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
€2500.01 Lots1:30 (Retail), 1:500 (Pro)CySEC, AFMCFDs, Forex, Stocks, Indices, Commodities, CryptosMT5Credit Card, Wire Transfer, Debit Card, Sticpay, FasaPay, Bitcoin Payments, Trustly, PayPal, Skrill, Neteller, Klarna, Mastercard, VisaUSD, EUR -
9
OANDA USCFDs are not available to residents in the United States.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:50NFA, CFTCForex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)OANDA Trade, MT4, TradingView, AutoChartistWire Transfer, Visa, Mastercard, Debit Card, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD -
10
Plus500 USWelcome Deposit Bonus up to $200Trading with leverage involves risk.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.0 LotsCFTC, NFAFutures on Forex, Commodities, Cryptos, Indices, Interest RatesWebTrader, AppACH Transfer, Wire Transfer, Debit Card, Mastercard, VisaUSD
This is why we think these brokers are the best in this category:
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- Plus500 US - Plus500 is a well-established broker that entered the US market in 2021. Authorized by the CFTC and NFA, it provides futures trading on forex, indices, commodities, cryptocurrencies, and interest rates. With a 10-minute sign-up, a manageable $100 minimum deposit, and a straightforward web platform, Plus500 continues to strengthen its offering for traders in the US.
Best Day Trading Platforms and Brokers in 2024 Comparison
| Broker | Minimum Deposit | Markets | Platforms | Leverage |
|---|---|---|---|---|
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$100 | Forex, Stocks, Futures, Futures Options | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral | 1:50 |
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$0 | Forex, Stocks, Options, Commodities, Futures, Crypto | NinjaTrader Desktop, Web & Mobile, eSignal | 1:50 |
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$100 | Stocks, Options, ETFs, Crypto | eToro Trading Platform & CopyTrader | - |
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$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 |
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$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) |
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$50 | Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos | Web, MT4, MT5 | - |
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$250 | Binary Options, CFDs, Forex, Indices, Commodities, Crypto | Online Platform, TradingView | 1:500 |
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€250 | CFDs, Forex, Stocks, Indices, Commodities, Cryptos | MT5 | 1:30 (Retail), 1:500 (Pro) |
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$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 |
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$100 | Futures on Forex, Commodities, Cryptos, Indices, Interest Rates | WebTrader, App | - |
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 Offer | Active Trader Program With A 15% Reduction In Costs |
|---|---|
| Demo Account | Yes |
| Instruments | Forex, Stocks, Futures, Futures Options |
| Regulator | NFA, CFTC |
| Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN |
Pros
- FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
- There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
- 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.
Cons
- 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.
- Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
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 Account | Yes |
|---|---|
| Instruments | Forex, Stocks, Options, Commodities, Futures, Crypto |
| Regulator | NFA, CFTC |
| Platforms | NinjaTrader Desktop, Web & Mobile, eSignal |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD |
Pros
- NinjaTrader continues to deliver comprehensive charting software for active day traders with bespoke technical indicators and widgets
- Traders can get free platform access and trade simulation capabilities in the unlimited demo
- NinjaTrader is a widely respected and award-winning futures broker and is heavily authorized by the NFA and CFTC
Cons
- Non forex and futures trading requires signing up with partner brokers
- There is a withdrawal fee on some funding methods
- The premium platform tools come with an extra charge
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."
eToro USA Quick Facts
| Bonus Offer | Invest $100 and get $10 |
|---|---|
| Demo Account | Yes |
| Instruments | Stocks, Options, ETFs, Crypto |
| Regulator | SEC, FINRA |
| Platforms | eToro Trading Platform & CopyTrader |
| Minimum Deposit | $100 |
| Minimum Trade | $10 |
| Account Currencies | USD |
Pros
- The low minimum deposit and straightforward account opening process means beginners can get started quickly
- The broker's Academy offers comprehensive learning materials for beginners to advanced-level investors
- The online broker offers an intuitive social investment network with straightforward copy trading on cryptos
Cons
- Average fees may cut into the profit margins of day traders
- There's no MetaTrader 4 platform integration for traders who are accustomed to using third-party charting tools
- The proprietary terminal doesn't support trading bots and there are no additional stock market analysis tools
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."
Interactive Brokers Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies |
| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral |
| Minimum Deposit | $0 |
| Minimum Trade | $100 |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Pros
- With low commissions, tight spreads and a transparent fee structure, IBKR delivers a cost-effective environment for short-term traders.
- IBKR is one of the most respected and trusted brokerages and is regulated by top-tier authorities, so you can have confidence in the integrity and security of your trading account.
- 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.
Cons
- 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.
- TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
- 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.
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."
IG Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting |
| Regulator | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM |
| Platforms | Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail), 1:250 (Pro) |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD |
Pros
- IG offers an extensive collection of professional and engaging educational resources, including webinars, articles, and analysis.
- 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.
- 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.
Cons
- IG has discontinued its swap-free account, reducing its appeal to Islamic traders.
- Stock and CFD spreads still trail the cheapest brokers like CMC Markets based on tests.
- 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.
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."
Pocket Option Quick Facts
| Bonus Offer | 50% Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos |
| Regulator | MISA |
| Platforms | Web, MT4, MT5 |
| Minimum Deposit | $50 |
| Minimum Trade | $1 |
| Account Currencies | USD |
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
- The web platform shines for its straightforward design and usability that will appeal to beginners looking to speculate on popular financial markets in a few clicks
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
- Pocket Option offers a slimmed down iteration of the MT4 and MT5 that doesn't provide the full charting package for advanced traders
- Despite offering competitive payouts up to 92%, binary brokers like IQCent offer higher returns up to 98% based on tests
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. "
IQCent Quick Facts
| Bonus Offer | 20% to 200% Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | Binary Options, CFDs, Forex, Indices, Commodities, Crypto |
| Regulator | IFMRRC |
| Platforms | Online Platform, TradingView |
| Minimum Deposit | $250 |
| Minimum Trade | $0.01 |
| Leverage | 1:500 |
| Account Currencies | USD, EUR |
Pros
- There's an accessible $0.01 minimum stake for new day traders with a small budget
- The proprietary terminal offers TradingView-powered charts which deliver dozens of technical indicators and studies
- CFD trading fees are competitive based on tests, including 0.7 pips on major forex pairs such as EUR/USD
Cons
- The broker is not overseen by a respected regulator, though this is common among binary options firms
- There's no automated trading support for algo traders
- IQCent trails binary brokers like Quotex with its narrow investment offering of around 100 assets with no stocks
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."
RedMars Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, Cryptos |
| Regulator | CySEC, AFM |
| Platforms | MT5 |
| Minimum Deposit | €250 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail), 1:500 (Pro) |
| Account Currencies | USD, 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
- The no-frills trading environment offers little beyond the basics, with no Islamic account, PAMM account or copy trading.
- With just 300 instruments, RedMars offers a narrow trading environment, particularly compared to category leaders like BlackBull Markets which offers 26,000 assets
- 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
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."
OANDA US Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA) |
| Regulator | NFA, CFTC |
| Platforms | OANDA Trade, MT4, TradingView, AutoChartist |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD, 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
- Day traders can enjoy fast and reliable order execution
- The broker offers a transparent pricing structure with no hidden charges
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
Plus500 US
"Plus500 US stands out as an excellent choice for beginners, offering a very user-friendly platform, low day trading margins, and access to the Futures Academy to enhance trading skills."
Michael MacKenzie, Reviewer
Plus500 US Quick Facts
| Bonus Offer | Welcome Deposit Bonus up to $200 |
|---|---|
| Demo Account | Yes |
| Instruments | Futures on Forex, Commodities, Cryptos, Indices, Interest Rates |
| Regulator | CFTC, NFA |
| Platforms | WebTrader, App |
| Minimum Deposit | $100 |
| Minimum Trade | 0.0 Lots |
| Account Currencies | USD |
Pros
- The Futures Academy is an excellent resource for new traders with engaging videos and easy-to-follow articles, while the unlimited demo account is great for testing strategies
- The trading app provides a terrific user experience with a modern design, a clean layout and mobile-optimized charts
- Plus500 is a publicly traded company with a good reputation, over 24 million traders, and a sponsor of the Chicago Bulls, instilling a sense of trust
Cons
- Despite competitive pricing, Plus500 US lacks a discount program for high-volume day traders, a scheme found at brokers like Interactive Brokers
- While Plus500 US continues to broaden its investment offering, it's currently restricted to around 50+ futures with no stocks
- Plus500 US does not offer social trading capabilities, a feature available at alternatives like eToro US which could strengthen its offering for aspiring traders
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.
| 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.
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.
| 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 |
| 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 |
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.
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.
| 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 |
| 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 |
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.
| FOREX.com | NinjaTrader | eToro USA | Interactive Brokers | IG | |
|---|---|---|---|---|---|
| Markets Rating | |||||
| Day Trading Markets | Forex, Stocks, Futures, Futures Options | Forex, Stocks, Options, Commodities, Futures, Crypto | Stocks, Options, ETFs, Crypto | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting |
| 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 |
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.
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.
| FOREX.com | NinjaTrader | eToro USA | Interactive Brokers | IG | |
|---|---|---|---|---|---|
| Fast Execution | Yes | Yes | Yes | Yes | Yes |
| 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 |
Leverage & Margin Requirements
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.
| FOREX.com | NinjaTrader | eToro USA | Interactive Brokers | IG | |
|---|---|---|---|---|---|
| Margin Trading | Yes | Yes | Yes | Yes | Yes |
| Leverage Available | 1:50 | 1:50 | 1:50 | 1:30 (Retail), 1:250 (Pro) | |
| 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 |
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.
| FOREX.com | NinjaTrader | eToro USA | Interactive Brokers | IG | |
|---|---|---|---|---|---|
| Minimum Deposit | $100 | $0 | $100 | $0 | $0 |
| Minimum Trade | 0.01 Lots | 0.01 Lots | $10 | $100 | 0.01 Lots |
| 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 |
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
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.