There are some brokers that match Fidelity in this, but many of them scored lower in terms of trading technology and customizability. This results in cost savings for day traders on almost every trade. If you are primarily trading equities and you want to keep your costs down as low as possible, then Fidelity is the brokerage for you. Day traders looking for more fundamental research may have to use the web platform in addition to Active Trader Pro. Day traders may place their trades manually, often from a chart, or set up an automated system that generates orders on their behalf.

Fundamental data is not a concern, but the ability to monitor price volatility, liquidity, trading volume, and breaking news, is key to successful day trading. Day traders often prefer brokers who charge per share rather than per trade. Traders also need real-time margin and buying power updates. Each broker ranked here affords their day-trading customers the ability to enter orders quickly by customizing the size of trades and turning off the trade confirmation screen.

We sought brokers who allow traders to place multiple orders simultaneously, designate which trading venue will handle the order, and customize trading defaults. A key consideration for day traders is trading platform quality, which can impact things such as execution speed and price quotes. Day traders, especially those who trade using their own algorithms, need flawless data feeds or they risk entering orders based on errors in the data.

In an environment where high-frequency traders place transactions in milliseconds, human traders must possess the best tools.

Most brokers offer speedy trade executions, but slippage remains a concern. Traders should test for themselves how long a platform takes to execute a trade. Commissions, margin rates, and other expenses are also top concerns for day traders. Even if a day trader can consistently beat the market, the profit from those positions must exceed the cost of commissions. For a high volume trader, commission costs can easily run into the hundreds or thousands of dollars per day. Traders can check these rates by contacting the broker or checking the broker website, but most offer special rates for highly active day traders.

Customer service is vital during times of crisis. A crisis could be a computer crash or other failure when you need to reach support to place a trade.

Best Day Trading Brokers and Platforms - Comparison and Reviews

The best brokers offer dedicated account representatives for highly active day traders to assist in this regard. The financial strength of the firm is also important since small brokerages can and do go out of business, but the main player in whether or not you can recover your assets is the clearing firm. Take a look at FINRA's BrokerCheck page before signing on with a small firm to make sure they have not had claims filed against them for misdeeds or financial instability.

Investopedia is dedicated to providing investors with unbiased, comprehensive reviews and ratings of online brokers. We established a rating scale based on our criteria, collecting thousands of data points that we weighed into our star-scoring system. In addition, every broker we surveyed was required to fill out an extensive survey about all aspects of its platform that we used in our testing. Many of the online brokers we evaluated provided us with in-person demonstrations of its platforms at our offices.

When choosing an online broker , day traders place a premium on speed, reliability, and low cost. Features designed to appeal to long-term infrequent traders are unnecessary for day traders, who generally start a trading day with no positions in its portfolios, make a lot of transactions, and end the day with having closed all of those trades. The ability to monitor price volatility, liquidity, trading volume, and breaking news is key to successful day trading. Traders need real-time margin and buying power updates.

Each broker ranked here affords its day-trading customers the ability to enter orders quickly by customizing the size of trades and turning off the trade confirmation screen. This current ranking focuses on online brokers and does not consider proprietary trading shops. Our team of industry experts, led by Theresa W.

Carey , conducted our reviews and developed this best-in-industry methodology for ranking online investing platforms for users at all levels. Click here to read our full methodology.

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Part Of. Investing Brokers. Pros No broker can match Interactive Brokers in terms of the range of assets you can trade and the number of markets you can trade them in. Cons Interactive Brokers still charges nominal fees, meaning that other brokerages can offer an overall lower trading cost. Pepperstone brokers only in forex foreign exchange and CFD contract for differences. It requires no minimum deposit and offers low trading fees. Login procedures for mobile, desktop and web platforms are not as secure as they could be. However, they are customisable and user-friendly.

Pepperstone offers fantastic market analysis and trading ideas, but the news flow is basic.

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The educational tools are adequate. Customer service is available via phone, email and live chat, and all queries are answered in a very timely manner. Visit Pepperstone. The site makes the most of real-time data and promises fast execution speeds. This means that you can make the most of changing stock performances. The dashboard allows users to make the most of technical indicators as well as risk alerts.

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This means that you can have confidence that you are making informed decisions. A positive of Capital. Visit Capital. City Index offers low forex and stock index CFD trading. There is no minimum deposit for opening an account, but there are non-trading fees that can be quite pricey. There is good customisability across all platforms with good-quality news flow and diverse research tools, though it lacks fundamental data. City Index is listed on the stock exchange. Overall, while its portfolio is limited, City Index is regulated by the UK's FCA and offers low fees and excellent research, making it a great forex broker.

Visit City Index. AvaTrade is a forex and CFD trading platform that is easy to download and use. The web platform offers limited customisation but has good search functionality. The desktop version is poorly designed but offers decent customisation. The mobile app is in English only.

AvaTrade comes with excellent educational tools such as a demo account and trading tips. Overall, the platform is easy to use, and opening an account is straightforward. However, the product range is limited. Regarding safety, AvaTrade is regulated by some European banks. However, it is not listed on the stock exchange, nor is its financial information available to the public. Visit AvaTrade. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Plus is an easy-to-use platform that specialises in CFD trading. There is no minimum deposit and low trading fees, but it does have substantial inactivity fees. The web platform is user-friendly with a two-step login procedure. The mobile platform offers good search facilities and is safe and easy to use. There is no desktop version. Plus offers limited research and news flow, good customer support, a demo account and educational videos.