Best Day Trading Brokers

As a day trader, the tools that you use and your brokerage’s fees and tradable assets are almost as important as your trading strategy itself. Thankfully, a number of brokers offer all the tools that you need to day trade successfully. Read on to learn more about what day traders should look for and avoid when searching for the best trading brokers. 

The Best Day Trading Brokers

• Best for Stocks and ETFs: Interactive Brokers
• Best for Intermediate Traders and Investors: Webull
• Best for Momentum Traders: CenterPoint Securities
• Best for Day Traders: Mondeum Capital
• Best for Options Trading: TDAmeritrade
• Best for Futures Trading: TradeStation

Not sure which brokerages are the best brokers for day trading? Consider beginning your search for the right account with a few quick reviews of some of the most popular day trading brokers. 

Best for Stocks and ETFs: Interactive Brokers

If this isn’t your first time day trading, you might want to consider opening an account with Interactive Brokers. Interactive Brokers is a solid choice for day traders thanks to its strong, comprehensive platform and wealth of trading tools. Contingent orders are available for nearly every type of situation you might need to use them in, and the broker has recently lowered its account minimum to $0.

Fees for both Lite accounts and Premium accounts are low, and you’ll have access to exceptionally low margin interest rates as well, which you can use to enhance your trading and multiply returns. While Interactive Brokers’ platform can take a little getting used to, its range of market access and in-depth research tools make it ideal for day trading. 

Best for Intermediate Traders and Investors: Webull

If you’re looking for the most affordable way to begin day trading, be sure to check out Webull. Webull is an exceptionally low-cost platform, with $0 commissions on stock, exchange-traded funds (ETFs) and options trading.  Webull’s margin rates are also competitive when compared to other platforms that specialize in frequent and active traders.

Webull can also be a strong choice for new day traders, as the platform offers trading ideas and trade courses that you can use to learn more about how to use Webull’s major features effectively as well as the market as a whole. Webull offers a trading simulator that you can use to test out your trading strategy without putting any of your own money at risk. 

Best for Momentum Traders: CenterPoint Securities

CenterPoint Securities is a brokerage that offers remarkable tools for intermediate to advanced traders, high-volume traders, momentum traders and short sellers. You can set up your entire portfolio on the platform, or you might move a portion of it to this space so that you can remain organized.

When you short sell with CenterPoint, you can take advantage of a massive short inventory and advanced order routing so that your orders process as quickly as possible. 

There are discounts available to active day traders, and the customer service team is very responsive when there’s an issue with your account. Try a Pro, Web or Mobile account, use the built-in scanners, custom alerts and short locates tools so that you can make wise decisions and stay on top of your portfolio as you trade during day sessions throughout the year.

Best for Day Traders: Mondeum Capital

Mondeum Capital is a broker-dealer that helps day traders to compete in the marketplace. Mondeum provides modern technology that is paired with:

• Competitive pricing
• Quality customer care
• Functionality built specifically for self-directed active traders
• Next gen trading solutions
• Simple account onboarding
• Easy funds transfers and withdrawals

If you’re an experienced trader, you can easily open an account with Mondeum and implement your trading strategies. While Mondeum’s offering is currently limited to U.S. stocks and ETFs, it’s a great place to build a strong portfolio that’s designed for high-volume asset management. Plus, Mondeum plans to expand its offerings in the future.

Best for Options Trading: TD Ameritrade

TD Ameritrade is a longstanding broker that has built a reputation for itself over the course of more than four decades. Like many other brokers, TD Ameritrade offers $0 commission trading, which can help day traders keep more of the profits that they realize while executing their trading strategy. TD Ameritrade also offers an impressive library of educational articles and videos that beginners will love.

For more experienced traders, TD Ameritrade’s well-reviewed thinkorswim platform can be a major draw, offering an advanced set of charting and analysis tools to enhance trading. TD Ameritrade also offers one of the largest selections of tradable assets, supporting standard choices like stocks and ETFs alongside cryptocurrencies, forex and futures contracts. 

Best for Futures Trading: TradeStation

You may want to consider opening an account with TradeStation if you’re interested in trading a wider range of asset classes. TradeStation allows you to buy and sell everything from futures contracts to ETFs and from mutual funds to options. Commissions on options contracts begin at $0.60, which can help options traders remain competitive in the day-trading market.

TradeStation can also be a strong choice for day traders who trade on the go regularly. TradeStation’s mobile platform mirrors its desktop functionality, allowing you to access the majority of the tools that you’ll find on your computer interface. While TradeStation’s platform can take some trial and error to use effectively, it can be an exceptionally strong choice for frequent and mobile-only traders. 

What is a Day Trader?

A day trader is an active investor who buys and sells assets throughout the day to capitalize on intraday differences in price. The goal of day trading is to purchase an asset at a low price and sell it for more than you purchased it for, taking the difference as profit minus the cost of any commission. Multiple types of day trading exist, but most strategies rely heavily on technical analysis.

What Should Brokers do for Day Traders?

Knowing what to look for in a broker is especially important for day traders because active traders use their platform much more often than casual investors. The following are some of the key features to look for when you compare brokers for day trading. 

Easy interface: Day traders rely on quick trade executions and fast order placements. Be sure to choose a platform with a reliable and easy-to-navigate interface when actively trading. 

Affordable fees: Account fees and commissions can seriously cut into your profits as a trader. Look for a broker with affordable fees and low or no commissions to keep more of your profits. 

Lots of information: Day trading relies on up-to-the-minute information for technical analysis and strategy formulation. Find a broker that offers trading tutorials and a reliable news source to enhance your investing. 

A wide array of assets: Do you know which types of assets you want to actively trade? It can be a good idea to write down a list of the assets you’re interested in to be sure that you’re opening an account with a broker that offers you access to all of them. 

Quality customer service: If you run into trouble opening or operating your account, the last thing you want is to be left without a responsive customer service team. Before you open an account with a broker, review its customer service options and be sure it offers multiple ways to connect with the team. 

What Should Day Traders Avoid?

You should also keep your eyes out for these red flags that may signify that a broker isn’t suitable for day traders. 

Nebulous fee structures: If you don’t understand your broker’s fee schedule, you can’t accurately calculate what percentage of your profit you’ll keep. Choose a broker with a straightforward fee schedule that’s easy to understand. 

Poor or no customer service: Poor or no customer service options can make your brokerage account functionally useless if you run into a problem. Look for a broker with a well-reviewed customer service team to ensure that you’re able to stay online and trade when you need to. 

Bad online reviews: Poor online reviews often indicate a dysfunctional interface or less-than-stellar fee structure. Be sure to check out reviews on third-party sites before you open an account. 

Expensive withdrawal or deposit fees: Like high commissions, high withdrawal and deposit fees make a dent in your profits. Know and understand exactly when you’ll be charged before you open an account with a broker. 

Getting Started Day Trading

Though day trading might seem fun and exciting, it’s important to remember that there’s a large amount of technical and fundamental analysis that goes into a successful day-trading strategy. After learning more about the market, you may want to open an account with a broker that offers simulated trading or to use a stock market simulator. These simulators allow you to test out your trading strategy without putting any of your own money at risk. If things go well, you can move onto your brokerage platform — and if not, you can easily adjust your strategy to limit your risk.   

Frequently Asked Questions