Best Day Trading Platforms and Brokers in 2024

Written By

James Barra

Written By

James Barra

James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.

» James Barra Profile Page

Fact Checked By

Jemma Grist

Fact Checked By

Jemma Grist

Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.

» Jemma Grist Profile Page

Updated

Mar 20, 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 5 Platforms For Day Trading

We have reviewed over 490 brokers as of (April 2024) and found that these are the 5 best platforms for day trading. Every day trading broker was evaluated using real money or a test account.

1. AvaTrade - AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit.
2. 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.
3. Deriv.com - Deriv.com will suit day traders looking to make fast-paced trades using CFDs and multipliers with high leverage up to 1:1000. The broker is also the industry leader in synthetic indices, which simulate real market movements and are available around the clock.
4. Pepperstone - Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support.
5. XM - XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading.

Best Day Trading Platforms and Brokers in 2024 Comparison

Best Day Trading Platforms and Brokers in 2024 Comparison

Broker	Minimum Deposit	Markets	Platforms	Leverage	Visit
	-	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting	WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade	1:30 (Retail) 1:400 (Pro)	Visit
	$0	Forex, Crypto	OANDA Trade, MT4, TradingView, AutoChartist	1:50	Visit
	$5	CFDs, Multipliers, Forex, Stocks, Indices, Commodities	Deriv Trader, MT5	1:1000	Visit
	$0	CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting	MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade	1:30 (Retail), 1:500 (Pro)	Visit
	$5	Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures	MT4, MT5	-	Visit
	$200	CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto	MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade	1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)	Visit
	$100	CFDs, Forex, Stocks, Indices, Commodities	MT4, MT5, TradingView	-	Visit
	$50	CFDs, Forex, Indices, Commodities	MT4, MT5	1:30	Visit
	$0	CFDs, Forex, Stocks, Cryptos, Options, Commodities, Bonds	MT4, TradingView, TradingCentral	1:30 (Retail), 1:50 (Accredited Investor), 1:200 (Sophisticated Investor), 1:300 (Wholesale Investor), 1:400 (Professional Trader). Varies with jurisdiction.	Visit
	$100	CFDs, Forex, Indices, Commodities, Stocks, Crypto	MT4, MT5	-	Visit
	$100	CFDs, Forex, Stocks, Cryptos, Futures, Options, Commodities	MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral	1:200 (Retail), 1:500 (Pro)	Visit
	$50	CFDs, Forex, Stocks, ETFs, Cryptos, Futures, Commodities, Bonds	eToro Web, CopyTrader, TradingCentral	-	Visit
	$10	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures	R StocksTrader, MT4, MT5, TradingView	1:2000	Visit
	-	CFDs, Forex, Stocks, ETFs, Cryptos, Futures, Commodities	MT4, MT5	-	Visit
	£0	Stocks, Funds, Trusts, ETFs, Bonds, Gilts, VCTs	Own	-	Visit

#1 - AvaTrade

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Review

Why We Chose AvaTrade

AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, alongside a comprehensive education center and multilingual customer support.

• Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting
• Regulator: ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM
• Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
• Minimum Trade: 0.01 Lots
• Leverage: 1:30 (Retail) 1:400 (Pro)

Pros

• There's a great range of fee-free deposit methods, including bank wire, credit cards and popular e-wallets like Skrill
• The broker offers reliable 24/5 multilingual customer support with fast response times during testing
• AvaTrade is a heavily regulated and trustworthy broker with licenses from the ASIC, CySEC and more

Cons

• A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners
• There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders
• There is no ECN account with raw spreads

Visit AvaTrade

#2 - OANDA US

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Review

Why We Chose 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.

• Instruments: Forex, Crypto
• Regulator: NFA, CFTC
• Platforms: OANDA Trade, MT4, TradingView, AutoChartist
• Minimum Deposit: $0
• Minimum Trade: 0.01 Lots
• Leverage: 1:50

Pros

• The broker offers a transparent pricing structure with no hidden charges
• There's a strong selection of 68 currency pairs for dedicated short-term forex traders
• Day traders can enjoy fast and reliable order execution

Cons

• 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
• It's a shame that customer support is not available on weekends

Visit OANDA US

#3 - Deriv.com

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Review

Why We Chose Deriv.com

Deriv.com is a low cost, multi-asset broker with over 2.5 million global clients. With just a $5 minimum deposit, the firm offers CFDs, multipliers and more recently accumulators, alongside proprietary synthetic products which can't be found elsewhere. Deriv provides both its own in-house charting software and the hugely popular MetaTrader 5.

• Instruments: CFDs, Multipliers, Forex, Stocks, Indices, Commodities
• Regulator: MFSA, LFSA, VFSC, BFSC
• Platforms: Deriv Trader, MT5
• Minimum Deposit: $5
• Minimum Trade: 0.01 Lots
• Leverage: 1:1000

Pros

• The free demo account is ideal for practicing short-term trading strategies and no registration is required
• Deriv continues to offer fast and reliable 24/7 support and the WhatsApp service is particularly convenient
• Beginners and experienced day traders can access a good range of 20+ technical indicators in Deriv Trader vs 30+ in MT5

Cons

• The range of 100+ assets trails some competitors such as Quotex which offers 400+
• There are limited copy trading tools and analysis features compared to alternatives like IQ Cent
• There's no loyalty program or rebate scheme for high volume traders

Visit Deriv.com

#4 - Pepperstone

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Review

Why We Chose Pepperstone

Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.

• Instruments: CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
• Regulator: FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
• Platforms: MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
• Minimum Deposit: $0
• Minimum Trade: 0.01 Lots
• Leverage: 1:30 (Retail), 1:500 (Pro)

Pros

• Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates of 25%+ through the Active Trader program.
• There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
• Pepperstone boasts impressive execution speeds, averaging around 30ms, facilitating fast order processing and execution that’s ideal for day trading.

Cons

• Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
• Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets.
• Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.

Visit Pepperstone

#5 - XM

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Review

Why We Chose XM

XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.

• Instruments: Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures
• Regulator: ASIC, CySEC, DFSA, FSC, FSCA
• Platforms: MT4, MT5
• Minimum Deposit: $5
• Minimum Trade: 0.01 Lots

Pros

• Accessible trading accounts with a $5 minimum deposit and fast account opening
• Powerful MT4 and MT5 platforms are available with 60+ and 80+ technical charting tools
• Transparent and low fees with spreads from 0.0 pips that will help protect day trading profit margins

Cons

• PayPal deposits are not supported
• There's $5 inactivity fee after only 3 months, though this won't affect active traders
• There is weak regulatory oversight through the global entity

Visit XM

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.

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.

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.

James Barra

Author

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.

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.

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.

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.

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.

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:

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.

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