11 Best Trading Brokers & Apps for Stock & Day Trading

Reviews

Best day trading platform & broker

Picking his platform and broker for stock and day trading can be complex.
How should you pick the best one?
We did the work for you and screened all the brokers review and comparison website we could put our hands on and summarized it as the ultimate comparative guide!

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What do you need to start day trading?

Day trading career is a decision that shouldn’t be taken lightly. It is a career that is full of ups and downs. Starting a career always demands a lot of learning and a day trading career is no exception. The beginning is always difficult but it is possible to be a successful day trader if you are smart, resolute, persistent, and committed. You should not jump at day trading blindly. Planning ahead is key to success for day traders. Always remember that the fruit of success is sweeter if the struggle for success is demanding. 

Tips for day trading career seekers

Starting a day trading career requires deciding what to trade when to trade, risk management, capital, proper equipment, and software. Here are a few tips for day trading beginners. 

Breath

Take a deep breath and have a look at your day trading goals and what you have to achieve those goals. The very first thing is the capital. Consider thoroughly whether you have enough capital to day trade? If you don’t have enough capital, wait until you have funds to realize your day trading dreams. 

Take your time

Being a successful day trader takes time, probably six months to one year if you practice several hours each day. So, patience is the key here. You must be willing to put in that much time to be successful. If you are not willing to invest that much time, you cannot be a successful day trader. Remember, good things come for those who have patience. 

Focus on few markets

After a thorough consideration of the demands of the day trading career, if you are willing to move forward, it is time to pick a day trading market and stick to that market. Remember, you cannot master each market at once. Just focus on one market and try to learn it thoroughly. Focusing on one market makes the job easy, doesn’t divide your attention, and lets you make money sooner. Once you completely learn trading in one market, it is always easy to learn other markets. 

Make sure to have sufficient starting capital

You can choose your day trading market according to the capital you have. For example, the foreign exchange market requires the least capital where you can start trading with just $50. Traders trade currencies in foreign exchange markets. Futures markets require $1000 capital to start the trade. Those markets deal with commodities or indexes such as gold or S&P 500 movements. Finally, stocks require a capital of at least $25000. Hence, you can pick the market of your choice as per your capital.

Day trading is a tricky business and you need to create your own or learn a sound strategy and practice it to master. A sound and rehearsed strategy gives you a statistical edge over-trading. The key here is to implement the same method again and again and to monitor the results. 

Other prerequisites of day trading career 

After the thorough consideration of prerequisites of the day trading, let us discuss the equipment and software for the beginners of day trading. 

  • Day trading beginner needs a computer or laptop with enough memory and a reliably fast processor. A fast processor allows you to run your trading program without lagging or crashes. That doesn’t mean you need a top of the line computer or a supercomputer. Just make sure that your computer is capable of keeping up with the time. 
  • Day trading beginners also need an internet connection that is fast and reliable. It is necessary because your trading platform needs to update as quickly as possible. Moreover, if you have multiple web pages and running applications, then obviously you need an internet connection that can do the job quickly. 
  • Day trading beginners also need to pick a day trading platform from loads of trading platforms. You may download several trading platforms and try them all. You may also change your trading platform during your career. 
  • Day trading beginners also need a broker to facilitate trades at the expense of commission or fees on your trades. Don’t focus on low-fee brokers because you need a broker who is there for support if you have any issues. A few extra cents on a commission are worthwhile when a broker can help you save hundreds of dollars when facing issues in your trades.

What to consider when you choose and compare brokers for day trading?

There are thousands of day trading brokers who try to overwhelm you by flashing advertisements at you. It is a reality that they are quite successful in their aims. However, there are certain aspects that you need to consider when you choose your broker for day trading. 

Fees and costs

Fees and costs directly impact your overall return. What is the purpose of all those troubles if fees and costs of brokers leave nothing for the traders themselves? So, the fees and costs of a broker are the most important factors for investors. Investors must thoroughly consider what they are paying against the brokerage services. There are several other fees and hidden costs besides trade execution costs, for example, deposit and withdrawal fees, account maintenance fees, etc. that you need to know. Paying the lowest fees and commissions, however, is not the key although it is desirable. A midway is the best choice especially when you realize that you will be getting a real value for money.

Features 

Other features offered by brokers are always very crucial to the day trading beginners. It is very important to note that the investment needs of a day trading beginner are significantly different from the investing needs of experienced traders. Therefore, features like easy access to support staff, comprehensive glossaries, basic learning tools, demo accounts for trading practices, etc. are an absolute must for day trading beginners. Thus, it is crucial to ask for those features before picking a broker for your day trading. 

Customer service 

Day trading beginners also need to be satisfied with the customer services offered by brokers. Of course, it is quite natural to get answers to all the queries before you deposit your capital. The paradigm may vary from broker to broker. Some brokers offer live customer support while some others take some time to answer the queries. They may also have a frequently asked questions segment to answer the general questions regarding payments, orders, trade executions, etc. Therefore, go for the broker who is offering customer service that seems to fit your requirements. 

Extras

Day trading beginners may also look for extras to be fully satisfied with the broker. Full satisfaction is necessary for someone who is entrusting a broker with capital. Day trading beginners may seek extras such as regulation, trading platforms, payment methods, markets offered, charting features, and other benefits offered by brokers.

What are the best trading platforms and brokers? 

There are several trading platforms and brokers out there in the market. It is really a tough ask to find the right option. Here, in this review, we want to make this job easier for you. Be relax and have a look at our list of the 11 best trading platforms and brokers. We just want to assure you that whether you want to be a passive trader or an active trader, there is a stock trading platform for you. The following list of the best trading platforms is both for beginners as well as experienced investors to consider when stuck in a situation such as which is the best trading platform or best trading app for me?

TD Ameritrade

TD Ameritrade is definitely the best choice and tough to beat when it comes to the best day trading app for beginners as well as advanced traders. It is the best day trading platform because it requires a $0 minimum investment and also offers phenomenal features. TD Ameritrade is the best trading software for beginners, advanced traders, investor education/advice, and fund investors. 

What do we like?

  • $0 minimum investment
  • $0 commission for stock, ETF, and options trade
  • Exceptional trading platforms 
  • Phenomenal customer support
  • Multiple investment selection options
  • Excellent market research
  • Top-quality education for beginners

What we don’t like?

  • No fractional shares
  • Uncertainty of future after Charles Schwab acquired TD Ameritrade 

Account minimum 

As we have discussed earlier, TD Ameritrade requires a minimum investment of $0. It is astonishingly amazing but it is true.

Fees

TD Ameritrade reduced its $6.95 stock and ETF trades commission to $0 and is currently offering options trade at just $0.65 per contract. However, the fee for penny trading stocks is still at a flat rate of $6.95. Moreover, $25 and $49.99 are the fees for broker-assisted trades and no-load mutual funds respectively. 

Tradable assets with the benefits of investing with TD Ameritrade 

  • Stocks with order routing continuously seeking price improvement that makes it the best stock app for beginners as well as advanced traders 
  • Options with multi-legged trade executions with thinkorswim platforms 
  • ETFs with a huge list of $0 commission ETFs from leading providers
  • Mutual funds with the Premier List of top fund performers 
  • Futures with multiple free charting studies 
  • Forex with 24/7 quick updates

TradeStation

TradeStation is the best day trading platform with the best day trading app and the best trading software. It is a top pick among the best trading platforms because of its high-powered trading software, non-commissioned trades, and a wide variety of tradable securities. 

What do we like?

  • Non-commissioned trades
  • Stable and reliable trading platform with negligible downtime 
  • Exceptional charting and technical analysis tools
  • Phenomenal Portfolio Maestro that can measure the performance in many different ways
  • A web-based platform that supports casual trades

What we don’t like?

  • Confusing pricing choices
  • Fixed income transactions made with a broker
  • A steep learning curve is required to develop your own trading system

Account minimum 

TradeStation requires $0 for the TS GO package while TS Select package is available at $2000.

Fees

Fees for futures, options, stocks, and ETFs are $0 with an additional $0.50 per option contract and $0.85 per futures contract.

Tradable assets

The tradable assets for TradeStation include

  • Stocks
  • Futures
  • Mutual funds
  • ETFs 
  • Bonds
  • Cryptocurrencies

Interactive Brokers

Interactive Brokers is among the best day trading platforms because it grants you access to a wide range of tradable assets at very reasonable prices. Its wealth of tools help traders to track global investing trends. Interactive Brokers is the best day trading app that offers a wide variety of asset classes in almost 125 markets in 31 countries while using 22 currencies. The advanced execution, negligible prices, and strong trading platform are beneficial for both, active as well as casual traders.

What do we like?

  • $0 commission fees
  • Strong tools and exceptional research
  • A wide array of investment selections
  • Exceptionally smart order router

What we don’t like? 

  • A sophisticated website that is difficult to navigate 
  • Substantial fees for small and inactive accounts on IBKR Pro.

Account minimum 

Account minimum for Interactive Brokers is $0.

Fees

Cost per trade starts from $0 but varies from package to package and trading volume.

Tradable assets 

Interactive Brokers deal with the following tradable assets.

  • Stocks
  • Bonds
  • Options
  • Futures
  • ETFs 
  • Currencies
  • Mutual funds
  • Hedge funds
  • EFPs

Fidelity

Fidelity is among today’s best day trading platforms because of its commitment to increase key aspects of its platform while keeping the costs at the lowest. It the best day trading platform for beginners due to the excellent research and education it offers to its clients. Fidelity also has top-quality and among the best day trading apps with top-notch trading tools. That is not all. It charges no commission on stocks, ETFs, options trade, and various other no-expense-ratio index funds. Last but not least is the fantastic customer service of Fidelity. All those traits combine to make Fidelity one of the best trading platforms with the best of the best day trading app and the best of the best day trading website.

What do we like?

  • $0 trading commission
  • $0 fee index funds
  • More than 3400 no-transaction-fee mutual funds
  • Exceptional customer service
  • Phenomenal trade executions
  • Top-quality research

What we don’t like? 

  • The broker-assisted trade fee is relatively high
  • Limited only to US citizens and residents

Account minimum 

There is no minimum deposit requirement.

Fees

Commission fees on stocks, options, and ETFs are $0. The flat fee per options contract is $0.65, the broker-assisted fee is $32.95, the transaction fee bearing mutual funds is $49.95, and the recurring fee for most of the accounts is also zero.

Tradable assets

Fidelity tradable assets include stocks, options, ETFs, bonds, and mutual funds. 

E*TRADE

E*TRADE was founded in 1982 as one of the earliest online brokerages in the United States of America. It has established itself as one of the best day trading platforms with amazing features. E*TRADE clearly knows the demands of the clients and also knows what they need to be successful in day trading. Its two apps are among the best day trading apps and its Power E*TRADE platform is among the best of the best day trading platforms. Non-commissioned trades, superb educational resources, a huge selection of mutual funds, and exceptional portfolio-building tools are among the most highlighted features of this best trading platform. 

What do we like?

  • Non-commissioned trades
  • Huge library of educational resources
  • Two best day trading apps developed for two different styles of trading
  • Power E*TRADE
  • The option of prebuilt portfolio

What we don’t like? 

  • Automated investment management requires at least $500
  • Direct international trading or data is not available 
  • Less frequent traders have to bear high commissions on pre-contract options

Account minimum 

E*TRADE’s account minimum is $500.

Fees

Stocks and ETF trades are non-commissioned, the option trade fee is $0.65 per contract, and the penny stocks fee is $6.95. Moreover, E*TRADE also charges additionally on pre and post-market hour trading an ECN fee of $0.05 per share. 

Tradable assets

Tradable assets of E*TRADE include stocks, ETFs, futures, options, mutual funds, and bonds.

Webull

Webull is among the best day trading platforms for beginners. Its user-friendly trading platform satisfies beginners and advanced traders alike. Webull is the best stock trading app for stock traders because it is a technology-centric trading app. The Webull app offers a huge amount of technical research for stock traders. It is targeting technical traders and is exceptionally good at that. Furthermore, it is also one of the best day trading platforms because its advanced charting and optional add ons are amazing tools. Webull also offers commission-free trade that is the icing on the cake.

What do we like?

  • Non-commissioned trades 
  • All clients can enjoy free extended hour trading
  • Commission-free options trading
  • Extravagant research data for fundamental as well as technical strategies 
  • Exceptional customer service with 24/7 chat support

What we don’t like? 

  • Paid global market data
  • Limited available tradable assets

Account minimum 

Webull has no account minimum condition. 

Fees

Webull offers commission-free online stock, ETFs, and options trade. Wire transfers cost $8 to $45. Any additional fees may also be applicable.

Tradable assets 

  • Stocks
  • ETFs 
  • Options
  • Cryptocurrencies 

Charles Schwab

Founded in 1971 and listed on the New York Stock Exchange, Charles Schwab is there in the list of best day trading platforms. Several top-tier financial authorities regulate it including the US Securities and Exchange Commission, the UK’s Financial Conduct Authority, and the Financial Industry Regulatory Authority. It is also one of the largest investment companies with more than 325 branches and 1200 consultants. We consider it the best day trading platform for its commission-free platform and for investment options. Schwab app is also the best day trading app for beginners and advanced traders due to its user-friendly features, up to date research, and real-time information. 

What do we like?

  • Commission-free equity trades without any limit on trades
  • A large collection of mutual funds and ETFs with negligible fee
  • Exceptional customer service
  • User-friendly app with superb features
  • Up to date research 

What we don’t like? 

  • Fees for a few mutual funds are relatively higher
  • Relatively higher transfer fees
  • Unsatisfactory educational platform

Account minimum 

Charles Schwab does not require any minimum amount for US clients to open or maintain an account. Non-US clients need a $25,000 account minimum. 

Fee

All equity trades on Charles Schwab are commission-free with no limit on trades as well. The fee per contract option is $0.65. The standard charges for mutual funds are $49.95 even though near 4000 mutual funds are free to trade. The future fees are $1.5. Moreover, Schwab charges no inactivity and account fees.

Tradable assets

  • Mutual funds 
  • ETFs
  • Money market funds
  • Stocks
  • Schwab Stock Slices
  • International Stocks
  • Bonds
  • Options
  • Futures

Tastyworks

Founded in 2017, Tastyworks is a newcomer in the universe of day trading brokerage firms. It is a subsidiary of Tastytrade, an online financial firm established in 2011. Despite being new, it has already made its mark and is among the best day trading platform for frequent options and futures traders. It is also among the best day trading platforms for active traders due to its resource-rich derivatives-focused platform. Tastyworks website is also the best day trading website because its unique tools may overwhelm new investors. Tastyworks deals in stocks, ETFs, options, and futures. However, it is a day trading platform that isn’t for all and sundry because many investors find it lacking in certain areas.

What do we like?

  • The best day trading website with exceptional and easily accessible tools
  • The best day trading platform for derivatives trades
  • Low trading fees
  • Quick and stable data feeds
  • Extravagant educational material
  • Exceptional research tools

What we don’t like? 

  • Doesn’t suit beginners 
  • No demo account
  • Not good for investors of bonds or funds
  • Only offers US stocks, options, and futures

Account minimum 

Tastyworks doesn’t require a minimum deposit. 

Fees

Stock and ETF trades are commission-free while $1 per option on stocks and ETFs. Futures fees are $2.50 per option on futures, $1.25 per futures contract, and $0.85 per futures e-micros contract. Additional fees may also be applicable. 

Tradable assets

  • Stocks
  • ETFs
  • Futures

Ally Invest

Ally Invest is also among the best day trading platforms for beginners because of its competitive prices, user-friendly platform, and huge collection of learning resources. Its low minimum investment and helpful learning tools also make it the best day trading platform for beginners. Ally Invest offers stocks, ETFs, options, bonds, and mutual funds.

What do we like?

  • The best day trading app pairing bank account with the client’s investment
  • Simple and user-friendly 
  • Huge library of learning resources

What we don’t like? 

  • Few analytical tools are missing from the mobile app
  • The basic website is not up to date
  • Doesn’t offer futures, futures options, and any other international assets

Account minimum 

Ally Invest doesn’t require any minimum deposit. 

Fees

Online stocks, ETFs, and options trades are commission-free but the flat fee per options contract is $0.50. Fees for broker-assisted trades are $20 plus regular commissions. Fees for non-load mutual funds are $9.95. Additional fees may also be applicable. 

Tradable assets

  • Stocks
  • ETFs
  • Options
  • Bonds
  • Mutual funds

Firstrade

Firstrade is one of the best day trading platforms because of various top-quality features. It is also one of the safest day trading platforms because of its track record, being founded in 1985, and its membership of top-tier regulatory authorities. It is the only firm that offers commission-free mutual funds in addition to $0 commissioned stock and options trading.

What do we like?

  • Commission-free stock, options, and mutual funds trading
  • No contract fee on options trade
  • Exceptional research and educational tools
  • Options for the Chinese language 

What we don’t like? 

  • Limited to US markets only
  • Limited customer support services

Account minimum 

Firstrade doesn’t require any minimum deposit.

Fees

Firstrade’s fees for stocks, ETFs, and mutual funds is $0. The fee for options trade is $0.50 per trade. Fees for the broker-assisted stocks is $19.95.

Tradable assets

  • Stocks
  • Options
  • ETFs 
  • Mutual funds
  • Bonds

LightSpeed

LightSpeed is one of the best trading platforms that is famous for professional features and tools. It offers options and futures trades at very low costs. However, it also demands a minimum monthly commission and a high account minimum. That makes it not suitable for less frequent traders.

What do we like?

  • Exceptionally fast order router
  • Superb trading platform 
  • Professional and excellent customer service 
  • Minimum options trading cost

What we don’t like? 

  • Relatively high commissions and high account minimum requirements 
  • Real-time news and data are not available 
  • Zero or very negligible in-house research 

Account minimum 

$10,000 is the account minimum requirement for the Web Traders platform. $25000 is the condition for all other platforms. Margin account requires $175,000.

Fees

Stock trading fees are $4.50 per trade or $0.0045 per share. Options trade fees are $0.60 per contract without base commission. The minimum monthly fee for accounts under $15000 is $25. Opening, annual, and closing fees of IRAs are $20, $35, and $95 respectively.  

Tradable assets 

  • Stocks
  • ETFs 
  • Options
  • Futures

Bottom line for brokers comparison

Which is the best day trading platform or which is the best day trading app? Are all brokers great? These are the frequently asked questions but there is no direct and pinpoint answer to those questions. Our list of 11 best day trading platforms doesn’t consist of the only day trading apps. However, they are the best of the best day trading apps nowadays. Some of them are really the best day trading apps for beginners while some others suit more advanced traders. Some of them are the best stock trading platforms or apps while others are best for other equity trades.

You need to consider the total picture before picking a platform. You need to consider factors like what you like, what you don’t like, fees and commissions, account minimum, tradable assets, customer support, app’s usability, and tech features. A thorough consideration of all those factors will lead you to the best day trading platform for you. Finally, we advise you not to jump on board straight away. Instead, consider, think, and then decide. After all, investing money is a very crucial and right decision that will make a huge difference in your financial future.

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