Day Trading Platforms
A day trade is when you buy shares of a stock then sell the same shares before the market closes. Because day traders place far more trades than the average investor, keeping costs low is just as important as buying and selling (or shorting and covering) for a profit.
Having placed over 2,500 trades, I know firsthand that having a reliable day trading platform stocked with the trading tools you need is crucial to success.
For our 2021 Review, we tested and scored 11 different online brokers. To find the best day trading platform, we focused on both web and desktop platforms and assessed each platform across 55 different features. Alongside tools, we also took into consideration the costs of trading, including margin rates and order execution quality.
What is day trading?
Day trading is a strategy in which a trader buys and sells stocks throughout the trading day. The goal is to end each trading session with a net profit after commissions. Day traders primarily trade during the opening 60 minutes (9:30 - 10:30 AM EST) and closing 30 minutes (3:30 - 4:00 PM EST) of each market session, which is when price volatility is highest.
To make more than four day trades in any five-business-day period, a trader must be approved as a Pattern Day Trader, or PDT, which requires maintaining a balance of at least $25,000.
Best Day Trading Platforms 2021
Here's a breakdown of the best online brokers for day trading.
- Fidelity - Best order execution
- TradeStation - Best platform technology
- TD Ameritrade - Best desktop platform
- Interactive Brokers - Best for professionals
- E*TRADE - Best web-based platform
- Webull - Best for Beginners