Nasdaq

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Written By
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Written 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.
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Edited By
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Edited By
William Berg
William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.
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Fact Checked By
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Tobias Robinson
Tobias is a partner at DayTrading.com, director of a UK limited company and active trader. He has over 25 years of experience in the financial industry and contributed via CySec to the regulatory response to digital options and CFD trading in Europe. Toby’s expertise and dedication to financial education make him a trusted voice in the industry, including a BBC investigation into digital options.
Updated

Nasdaq brokers offer trading on a key American stock exchange that acts as a benchmark for technology stocks. This guide will share tips for comparing online brokers that offer trading on the Nasdaq with a list of the top platforms in 2024. It will also detail how the Nasdaq operates, including trading hours, performance, and rules. In addition, we explain how to start day trading on the Nasdaq, from trading brokers to charts, graphs, tickers, and strategy considerations.

Nasdaq Brokers

These are the 10 best brokers for trading on the Nasdaq:

Click a broker for details
  1. 1
    FOREX.com
    Active Trader Program With A 15% Reduction In Costs

    Ratings
    4.9 / 5
    4 / 5
    4.3 / 5
    4.6 / 5
    4.6 / 5
    4.3 / 5
    4.8 / 5
    4.5 / 5
    3.6 / 5
    3.8 / 5

    $100
    0.01 Lots
    1:50
    NFA, CFTC
    Forex, Stocks, Futures, Futures Options
    MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
    Wire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH Transfer
    USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN
  2. 2
    DNA Markets

    Ratings
    3 / 5
    4 / 5
    4 / 5
    3.9 / 5
    3.5 / 5
    3.6 / 5
    1.8 / 5
    1.6 / 5
    4.8 / 5
    4.4 / 5

    $100
    0.01 Lots
    1:500
    ASIC
    CFDs, Forex, Indices, Commodities, Stocks, Crypto
    MT4, MT5
    Credit Card, Debit Card, Wire Transfer, BPAY, Skrill, Neteller, Bitcoin Payments, Bitwallet, AstroPay, Mastercard
    USD, EUR, GBP, CAD, AUD, NZD, SGD
  3. 3
    Pocket Option
    50% Deposit Bonus

    Ratings
    2 / 5
    3.5 / 5
    2.5 / 5
    3.5 / 5
    3.3 / 5
    3.3 / 5
    3 / 5
    3.5 / 5
    4 / 5
    4.2 / 5

    $50
    $1
    MISA
    Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos
    Web, MT4, MT5
    Wire Transfer, Credit Card, Bitcoin Payments, Volet, Perfect Money, Visa, Mastercard, Debit Card, WebMoney, FasaPay, Ethereum Payments, Maestro, JetonCash
    USD
  4. 4
    RedMars

    Ratings
    3.3 / 5
    3.5 / 5
    3.8 / 5
    3.5 / 5
    3.8 / 5
    4 / 5
    2.8 / 5
    3 / 5
    4.7 / 5
    4.6 / 5

    €250
    0.01 Lots
    1:30 (Retail), 1:500 (Pro)
    CySEC
    CFDs, Forex, Stocks, Indices, Commodities, Cryptos
    MT5
    Credit Card, Wire Transfer, Debit Card, Sticpay, FasaPay, Bitcoin Payments, Trustly, PayPal, Skrill, Neteller, Klarna, Mastercard, Visa
    USD, EUR
  5. 5
    Interactive Brokers

    Ratings
    4.5 / 5
    3.5 / 5
    4.5 / 5
    4.3 / 5
    3.3 / 5
    3 / 5
    4.4 / 5
    4.3 / 5
    4.3 / 5
    4.5 / 5

    $0
    $100
    1:50
    FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA
    Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
    Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
    Cheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit Card
    USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF
  6. 6
    Moomoo
    Get up to 15 free stocks worth up to $2000

    Ratings
    4.8 / 5
    3.3 / 5
    3 / 5
    3.8 / 5
    3 / 5
    2 / 5
    3.8 / 5
    4.4 / 5
    4.6 / 5
    3.3 / 5

    $0
    $0
    1:2
    SEC, FINRA, MAS, ASIC, SFC
    Stocks, Options, ETFs, ADRs, OTCs
    Desktop Platform, Mobile App
    Wire Transfer, ACH Transfer
    USD, HKD, SGD
  7. 7
    Videforex
    20% to 200% Deposit Bonus

    $250
    $0.01
    1:500
    Binary Options, CFDs, Forex, Indices, Commodities, Crypto
    TradingView
    Skrill, Perfect Money, Bitcoin Payments, Neteller, Credit Card, Visa, Mastercard, Ethereum Payments
    USD, EUR, GBP, AUD, RUB
  8. 8
    xChief
    $100 No Deposit Bonus

    $10
    0.01 Lots
    1:1000
    VFSC
    CFDs, Forex, Metals, Commodities, Stocks, Indices
    MT4, MT5
    Wire Transfer, Bitcoin Payments, Credit Card, UnionPay, Skrill, Neteller, WebMoney, Perfect Money, Debit Card, Ethereum Payments, FasaPay, Volet
    USD, EUR, GBP, JPY, CHF
  9. 9
    Axofa
    10% Deposit Bonus

    $1
    0.01 Lots
    1:1000
    SVGFSA
    Forex, CFDs, Stocks, Indices, Commodities
    MT5
    Debit Card, Credit Card, Visa, Mastercard, Neteller, Skrill, Bitcoin Payments, Wire Transfer
    USD, IDR
  10. 10
    Empower

    $1 (Cash), $100,000 (Robo Advisor)
    Variable
    SEC, FINRA
    Stocks, ETFs, Mutual Funds, Fixed Income
    Own
    Wire Transfer
    USD

Here is a short overview of each broker's pros and cons

  1. FOREX.com - Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
  2. DNA Markets - DNA Markets is a forex and CFD broker established in 2020. The broker operates two entities in Australia and the offshore jurisdiction, St Vincent and the Grenadines. Traders can access 800+ markets, with a Standard account for beginners and a Raw account for experienced traders. The reliable MetaTrader 4 and MetaTrader 5 platforms are available, alongside Signal Start.
  3. Pocket Option - Established in 2017, Pocket Option is a binary options broker offering high/low contracts on forex, stocks, indices, commodities and cryptocurrencies. With over 100,000 active users and a global reach, the platform continues to prove popular with budding traders.
  4. RedMars - Launched in 2020, Cyprus-based RedMars offers competitive spreads on more than 300 instruments and leverage up to 1:500. Three accounts are available - Standard, Pro and VIP - serving a range of budgets and experience levels, with a fast and fully digital account opening process.
  5. Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
  6. Moomoo - Moomoo is an SEC-regulated app-based investment platform that offers a straightforward and affordable way to invest in Chinese, Hong Kong, Singaporean, Australian and US stocks, ETFs and other assets. Margin trading is available and the brand offers a zero-deposit account as well as several bonuses.
  7. Videforex - Launched in 2017, Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. The proprietary platform, mobile app and integrated copy trading are user-friendly and will suit new and casual traders, and the market analysis tools and trading contests provide good ways to improve your trading skills.
  8. xChief - xChief is a foreign exchange and CFD broker, established in 2014. The company is based offshore and registered with the VFSC and FMA. Users can choose between a wide selection of accounts and base currencies, making ForexChief accessible to global traders. The brand also stands out for its no deposit bonus and fee rebates for high-volume traders.
  9. Axofa - Axofa is a forex and CFD broker registered in St Vincent and the Grenadines. The broker offers three account types with access to forex, commodities and indices. With ECN processing, low minimum deposits and no commissions, Axofa remains an attractive option, although the broker does not hold a reputable license.
  10. Empower - Empower, previously Personal Capital, is a US-based and SEC-regulated trading platform and advisory firm. Clients can access pensions, robo-advisors and do-it-yourself investing in stocks, mutual funds, fixed-income products and ETFs. Millions of clients trust Empower with their long-term investments, attracted by the suite of free financial planning tools and excellent reputation.

FOREX.com

"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."

Christian Harris, Reviewer

FOREX.com Quick Facts

Bonus OfferActive Trader Program With A 15% Reduction In Costs
Demo AccountYes
InstrumentsForex, Stocks, Futures, Futures Options
RegulatorNFA, CFTC
PlatformsMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:50
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN

Stock Exchanges

FOREX.com offers trading on 14 stock exchanges:

  • Australian Securities Exchange (ASX)
  • Borsa Italiana
  • CAC 40 Index France
  • DAX GER 40 Index
  • Dow Jones
  • Euronext
  • FTSE UK Index
  • Hang Seng
  • Hong Kong Stock Exchange
  • IBEX 35
  • Japan Exchange Group
  • Nasdaq
  • S&P 500
  • SIX Swiss Exchange

Pros

  • Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
  • With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
  • The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.

Cons

  • There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.
  • Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
  • Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.

DNA Markets

"DNA Markets is an excellent choice for short-term traders familiar with the MetaTrader platforms. The smooth sign-up process also makes it easy to get started while the $100 minimum deposit is accessible. That said, DNA Markets trails the top brokers in education, research and mobile trading. "

Jemma Grist, Reviewer

DNA Markets Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Indices, Commodities, Stocks, Crypto
RegulatorASIC
PlatformsMT4, MT5
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:500
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, SGD

Stock Exchanges

DNA Markets offers trading on 14 stock exchanges:

  • Australian Securities Exchange (ASX)
  • CAC 40 Index France
  • DAX GER 40 Index
  • Dow Jones
  • Euronext
  • FTSE UK Index
  • Hang Seng
  • Japan Exchange Group
  • Nasdaq
  • New York Stock Exchange
  • Russell 2000
  • S&P 500
  • SIX Swiss Exchange
  • Toronto Stock Exchange

Pros

  • Convenient account funding is available with 7 base currencies, a $100 deposit and a wide range of payment methods
  • You can access low trading fees with spreads from 0.0 pips in the Raw account and zero non-trading fees
  • The broker provides 24/5 customer support with response times of <2 minutes during testing

Cons

  • Although it continues to strengthen its client base and reputation, DNA Markets lacks the track record of top brokers like Vantage
  • Unlike many alternatives, there are limited educational and research tools for traders seeking an all-in-one solution
  • Despite access to MT4 and MT5, there is no proprietary trading app for seamless account management whilst on the go

Pocket Option

"Pocket Option excels for its easy-to-use web platform which provides a best-in-class user experience for short-term binary traders. The $50 minimum deposit is also accessible for beginners while opening an account is really easy. Looking at the negatives, Pocket Option still trails alternatives in its market offering and regulatory credentials."

Jemma Grist, Reviewer

Pocket Option Quick Facts

Bonus Offer50% Deposit Bonus
Demo AccountYes
InstrumentsBinary Options, Currencies, Commodities, Stocks, Indices, Cryptos
RegulatorMISA
PlatformsWeb, MT4, MT5
Minimum Deposit$50
Minimum Trade$1
Account CurrenciesUSD

Stock Exchanges

Pocket Option offers trading on 11 stock exchanges:

  • Australian Securities Exchange (ASX)
  • CAC 40 Index France
  • DAX GER 40 Index
  • Dow Jones
  • Euronext
  • FTSE UK Index
  • IBEX 35
  • Japan Exchange Group
  • Nasdaq
  • New York Stock Exchange
  • S&P 500

Pros

  • Well-funded traders who deposit $1000+ can qualify for a 2%+ payout boost, more tradable assets and exclusive perks
  • The web platform shines for its straightforward design and usability that will appeal to beginners looking to speculate on popular financial markets in a few clicks
  • The MetaTrader platforms offer integrated analysis with helpful technical summaries for short-term traders

Cons

  • You need to deposit $1000 to access the extended list of 250+ assets, otherwise just 130+ assets are available
  • Pocket Option offers a slimmed down iteration of the MT4 and MT5 that doesn't provide the full charting package for advanced traders
  • The MISA is a weak regulator with limited investor protection for retail traders

RedMars

"RedMars is the best fit for experienced day traders familiar with the MetaTrader 5 platform and based in the EU, where the broker is authorized by the CySEC. However, the threadbare education and research tools make it unsuitable for beginners."

Christian Harris, Reviewer

RedMars Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Cryptos
RegulatorCySEC
PlatformsMT5
Minimum Deposit€250
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:500 (Pro)
Account CurrenciesUSD, EUR

Stock Exchanges

RedMars offers trading on 15 stock exchanges:

  • Australian Securities Exchange (ASX)
  • CAC 40 Index France
  • DAX GER 40 Index
  • Dow Jones
  • Euronext
  • Hong Kong Stock Exchange
  • IBEX 35
  • Japan Exchange Group
  • London Stock Exchange
  • Nasdaq
  • National Stock Exchange Of India
  • New York Stock Exchange
  • S&P 500
  • Shanghai Stock Exchange
  • Shenzhen Stock Exchange

Pros

  • Getting started on RedMars is incredibly easy - you can be up and running in just a few minutes based on tests
  • RedMars offers one of the best platforms for day trading, MT5, hosting 21 timeframes, dozens of analytical tools, flexible templates and algo trading
  • Clients in the EU, in particular, can trade with peace of mind knowing RedMars is authorized by the CySEC with up to €20K compensation available through the ICF in the event of bankruptcy

Cons

  • With just 300 instruments, RedMars offers a narrow trading environment, particularly compared to category leaders like BlackBull Markets which offers 26,000 assets
  • While RedMars' spreads are within industry averages, they don't offer a significant edge over the cheapest day trading brokers we've personally used, notably IC Markets
  • RedMars falls short for newer traders, with little in the way of education, no beginner-friendly platform, a steep minimum deposit, and inadequate support during testing

Interactive Brokers

"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."

Christian Harris, Reviewer

Interactive Brokers Quick Facts

Demo AccountYes
InstrumentsStocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
RegulatorFCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA
PlatformsTrader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
Minimum Deposit$0
Minimum Trade$100
Leverage1:50
Account CurrenciesUSD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF

Stock Exchanges

Interactive Brokers offers trading on 15 stock exchanges:

  • Borsa Italiana
  • CAC 40 Index France
  • Chicago Mercantile Exchange
  • Euronext
  • IBEX 35
  • Japan Exchange Group
  • Korean Stock Exchange
  • London Metal Exchange
  • London Stock Exchange
  • Nasdaq
  • Nasdaq Nordic & Baltics
  • New York Stock Exchange
  • Russell 2000
  • Shenzhen Stock Exchange
  • Toronto Stock Exchange

Pros

  • There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.
  • IBKR continues to deliver unmatched access to global stocks with tens of thousands of equities available from 100+ market centres in 24 countries.
  • The new IBKR Desktop platform takes the best of TWS while adding bespoke tools like Option Lattice and Screeners with MultiSort to create a genuinely impressive trading experience for day traders at every level.

Cons

  • IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
  • You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
  • Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.

Moomoo

"Moomoo remains an excellent choice for new and intermediate stock traders who want to build a diverse investment portfolio. What really stands out is the broker's user-friendly app and the low trading fees."

Jemma Grist, Reviewer

Moomoo Quick Facts

Bonus OfferGet up to 15 free stocks worth up to $2000
Demo AccountYes
InstrumentsStocks, Options, ETFs, ADRs, OTCs
RegulatorSEC, FINRA, MAS, ASIC, SFC
PlatformsDesktop Platform, Mobile App
Minimum Deposit$0
Minimum Trade$0
Leverage1:2
Account CurrenciesUSD, HKD, SGD

Stock Exchanges

Moomoo offers trading on 5 stock exchanges:

  • Australian Securities Exchange (ASX)
  • Chicago Mercantile Exchange
  • Hong Kong Stock Exchange
  • Nasdaq
  • New York Stock Exchange

Pros

  • The ‘Moomoo Token’ generates dynamic passwords for transaction security - a unique and helpful safety feature
  • It is reassuring that Moomoo holds licenses with the US Securities and Exchange Commission (SEC) and the Monetary Authority of Singapore (MAS), among others
  • Moomoo's analytics and insights are impressive and detailed compared to other brands

Cons

  • There is no phone or live chat support - common options at most other brokers
  • It's a shame that there is no 2 factor authentication (2FA), despite the other security features on offer
  • There is no negative balance protection, which is a common safety feature at top-tier-regulated brokers

Videforex

"Newer traders will find a lot to enjoy about trading binary options on Videforex's easy-to-use proprietary platform, as well as the broker's copy trading solution. Payouts also remain higher than most alternatives climbing to 98%."

William Berg, Reviewer

Videforex Quick Facts

Bonus Offer20% to 200% Deposit Bonus
Demo AccountYes
InstrumentsBinary Options, CFDs, Forex, Indices, Commodities, Crypto
PlatformsTradingView
Minimum Deposit$250
Minimum Trade$0.01
Leverage1:500
Account CurrenciesUSD, EUR, GBP, AUD, RUB

Stock Exchanges

Videforex offers trading on 7 stock exchanges:

  • Dow Jones
  • FTSE UK Index
  • Hong Kong Stock Exchange
  • IBEX 35
  • Nasdaq
  • S&P 500
  • SIX Swiss Exchange

Pros

  • The firm facilitates both day trading and binary options which is great for those looking to diversify their portfolios
  • Videforex regularly runs trading contests, offering great practice opportunities and cash prizes to beginners and experienced traders
  • Global clients can make free and fast transfers via a wide range of payment types, from credit cards to cryptocurrencies

Cons

  • The broker isn’t overseen by a trusted regulatory agency
  • US clients aren’t accepted due to legal restrictions
  • No MetaTrader 4 integration

xChief

"xChief continues to prove popular with investors looking to trade highly leveraged CFDs on the popular MetaTrader platforms. The broker's rebate scheme and investment accounts will particularly appeal to seasoned traders. However, the lack of top-tier regulatory oversight is a major drawback."

William Berg, Reviewer

xChief Quick Facts

Bonus Offer$100 No Deposit Bonus
Demo AccountYes
InstrumentsCFDs, Forex, Metals, Commodities, Stocks, Indices
RegulatorVFSC
PlatformsMT4, MT5
Minimum Deposit$10
Minimum Trade0.01 Lots
Leverage1:1000
Account CurrenciesUSD, EUR, GBP, JPY, CHF

Stock Exchanges

xChief offers trading on 14 stock exchanges:

  • Australian Securities Exchange (ASX)
  • CAC 40 Index France
  • DAX GER 40 Index
  • Deutsche Boerse
  • Dow Jones
  • Euronext
  • FTSE UK Index
  • Hang Seng
  • Hong Kong Stock Exchange
  • IBEX 35
  • Japan Exchange Group
  • Nasdaq
  • New York Stock Exchange
  • S&P 500

Pros

  • Traders can access a copy trading solution via the MetaQuotes Signals service
  • The broker offers several account types to suit different traders, including a Cent account for beginners and pro-level hedging/netting accounts
  • xChief offers STP/ECN execution with low spreads from 0.0 pips and low commission rates starting from $2.50 per side

Cons

  • xChief is an offshore broker with weak regulatory oversight from the VFSC, so traders will receive limited safeguards
  • The Classic+ and Cent accounts provide access to fewer instruments than the other account types, at 50+ and 35+, respectively
  • The broker trails competitors when it comes to research tools and educational resources

Axofa

"Axofa could be a good option for clients looking for social trading features alongside the MT5 platform. The low entry requirements and ECN spreads are particularly promising, but the lack of transparency and respected regulatory oversight raises security concerns."

William Berg, Reviewer

Axofa Quick Facts

Bonus Offer10% Deposit Bonus
Demo AccountYes
InstrumentsForex, CFDs, Stocks, Indices, Commodities
RegulatorSVGFSA
PlatformsMT5
Minimum Deposit$1
Minimum Trade0.01 Lots
Leverage1:1000
Account CurrenciesUSD, IDR

Stock Exchanges

Axofa offers trading on 2 stock exchanges:

  • Nasdaq
  • S&P 500

Pros

  • There's a proprietary social/copy trading service for beginners looking to follow successful strategies and for experienced traders looking to sell their strategies
  • Axofa offers the MetaTrader 5 platform which will particularly serve intermediate to experienced traders looking for advanced charting tools
  • The $1 minimum deposit across all 3 accounts will appeal to novices and those on a budget

Cons

  • There is a lack of transparency around pricing and account conditions, which significantly reduces the trust score
  • There is limited verifiable information about the broker’s owners and background
  • Our team found inconsistencies between international subsidiaries and website information

Empower

"Empower is best for hands-off investors looking for a US-regulated platform and robo-advisor with free financial planning services. However, investors need to be willing to make a large minimum investment and pay higher than average fees for premium services."

William Berg, Reviewer

Empower Quick Facts

Demo AccountNo
InstrumentsStocks, ETFs, Mutual Funds, Fixed Income
RegulatorSEC, FINRA
PlatformsOwn
Minimum Deposit$1 (Cash), $100,000 (Robo Advisor)
Minimum TradeVariable
Account CurrenciesUSD

Stock Exchanges

Empower offers trading on 4 stock exchanges:

  • Dow Jones
  • Nasdaq
  • New York Stock Exchange
  • S&P 500

Pros

  • Empower's advisory services are regulated by the SEC
  • Intelligent budgeting and portfolio management tools
  • Millions of active users and good industry reputation

Cons

  • $100,000 is needed for the robo-advisor service
  • Limited choice of payment methods with only wire transfer
  • 0.49% - 0.89% management fees are high vs alternatives

Comparing Nasdaq Brokers

Before you start day trading on the Nasdaq exchange, you will need to choose an online brokerage. Brokers with access to the Nasdaq will facilitate your trades and provide you with the assistance and tools you need to start generating profits. However, with so many Nasdaq brokers out there, what should you look for when you’re shopping around for the best platforms?

Importantly, the right Nasdaq brokers can compliment and enhance your investing performance. In contrast, the wrong online brokerage could quickly see you sink into the red.

wall st sign

What Is The Nasdaq?

The straightforward definition – Nasdaq is a global electronic marketplace, where you can buy and sell securities. It also stands as a benchmark index for US technology stocks. The term ‘Nasdaq’ is often used in reference to the Nasdaq Composite.

This is an index of over 3000 listed stocks listed on the Nasdaq Exchange. Of the top dozen or so components, you will find some of the world’s most infamous and influential businesses, from Google (GOOGL) and Amazon (AMZN) to Uniqure (QURE) and Wynn Resorts (WYNN).

By June 2015, the Nasdaq Stock Market had achieved an impressive annual growth rate of 9.24% since it opened in February 1971. However, since coming out of the rescission in June 2009, it has increased by around 18% per year. The best Nasdaq brokers offer rich historical data on the exchange.

History

Early History

Nasdaq was founded in 1971 by the National Association of Securities Dealers (NASD). Then the NASDAQ acronym stood for the National Association of Securities Dealers Automated Quotations.

When it began trading on February 8, 1971, it was the first ever electronic stock market. Admittedly, it was simply a quotation system to start with and could not facilitate electronic trades. However, the Nasdaq Stock Market helped to lower the spread (the difference between the bid price and ask price of a stock). This attracted resentment from brokerages who generated much of their earnings from the spread.

As the years have passed, the Nasdaq has become more of a stock market by introducing trade and volume reporting, plus automated trading systems. It became the first stock market in the US where you could trade online. It confidently proclaimed itself “the stock market for the next hundred years”.

Recent History

The Nasdaq of today is a far cry from the humble beginnings of the early years. It separated from the NASD and in 2006 it started operating as a national securities exchange. The following year it combined with the Scandinavian exchange group ‘OMX’, to form the Nasdaq OMX group.

This move saw the Nasdaq OMX group become a global powerhouse and the largest exchange company and listing center. Today, data shows it powers a staggering one in ten of the world’s securities transactions.

In addition, from its headquarters in New York, the Nasdaq OMX operates in twenty-six markets. The bulk of which, are:

It also boasts three clearinghouses, plus five central securities depositories across the US and Europe. Its sophisticated technology has seen it be adopted by seventy exchanges, in fifty countries. Today its electronic trading model acts as the standard for markets across the world and is explained on every continent. It is perhaps no surprise then that in the technology boom of the 1980s and 1990s, many of the world’s technology titans opted to list on the Nasdaq.

Since 2002 you will see its stocks listed on the Nasdaq with the symbol NDAQ. Also, from 2008, it has been a part of the S&P 500.

Key Dates

The US Nasdaq Stock Market had an important year in 1992. It joined with the London Stock Exchange to create the first intercontinental linkage of securities markets. Then, in 2002, the National Associate of Securities Dealers split from the Nasdaq Stock market to become a publicly traded company.

Below are some more important dates in the Nasdaq timeline:

Nasdaq Live Price Chart

Indices

The main index list is the Nasdaq Composite, which has been published since its creation. It is also worth noting, however, its exchange-traded fund has tracked the large-cap Nasdaq-100 index since 1985. This was published alongside the Nasdaq Financial Index which ranks the largest one hundred companies by market capitalization.

In terms of performance, the Nasdaq Composite index surged in the late 1990s but plummeted as a result of the dot-com bubble. Many of the best Nasdaq brokers offer market data and financial metrics into key trends in the index.

Nasdaq-100

In essence, the Nasdaq-100 Index contains the 100 most actively traded US companies listed on the Nasdaq stock exchange.

It is a capitalization-weighted index. The weight of index-listed stocks are calculated using their market capitalizations, but also by applying specific rules. These rules are designed to limit the influence of the largest constituents. Quarterly Nasdaq reviews will adjust weightings if distribution stipulations aren’t being adhered to.

Formulation

It primarily contains companies from the following industries:

Facts and figures show the technology sector is responsible for a massive 54% of the index’s weight. After that, consumer services, such as restaurants and retailers take up the next biggest slice. Their size can be partly attributed to the growth of retail giant Amazon.

The smallest slice of the pie is formed by the healthcare industry and telecommunications. However, there remain other big players, such as Vertex Pharmaceuticals (VRTX).

It is also worth highlighting, it does not contain any financial companies, such as investment and commercial banks. Instead, these will be found on separate indices. This distinguishes it from S&P 500 brokers.

QQQ

The Nasdaq-100 is traded through the PowerShares QQQ trust. This has been formulated to track the performance of the 100 largest listed companies on the Nasdaq exchange. There are certain admission rules that must be met. Each company in the trust has to be a member of the Nasdaq 100, plus be listed on the broader exchange for a minimum of two years. There also exists criteria around liquidity.

Having said that, there are certain exceptions. Admittance can sometimes be granted to newly public companies with abnormally high market capitalizations. On top of that, listed constituents on the stock index must also have an average daily trading volume of 200,000. They must also have publicly reported earnings both quarterly and annually.

If a company has bankruptcy issues, they will be excluded from the PowerShares QQQ trust. You may find at times that the trust and index do not quite mirror each other. However, the objective of the QQQ remains to monitor both the price and performance of the underlying index.

Record Values

Performance results and new highs are continuously tracked and announced at Nasdaq brokers. Currently, the all-time highs are as follows:

These recent results have produced both Nasdaq winners and losers, who have either generated impressive returns or suffered significant losses at the hands of volatile stocks.

On top of the well known Nasdaq-100 index, there also exits other important lists within the Nasdaq umbrella. Look out for Nasdaq brokers that also offer these opportunities. These include:

Market Tiers

Put aside the Nasdaq q-50 index ETF for a minute. The Nasdaq Stock market consists of three straightforward market tiers:

Nasdaq OMX 100 Index

This list is comprised of the 100 largest companies listed on the Nasdaq OMX group exchanges in the United States and the Nordic countries. Since it was introduced in March 2008, it was poised to be a global index, listing in both US dollars and euros. Calculations are listed in real time and stocks include heavy hitters such as Cisco and Danske Bank.

Some of the top Nasdaq brokers also offer access to the international index.

Nasdaq Composite Index

Here you will find a market capitalization-weighted index with around 3,000 popular equities that are listed on the Nasdaq Stock Exchange. Commonly listed securities include:

This index is different from others in that it is not restricted to companies that have US registered headquarter addresses. Companies base locations can span across the world.

The index’s value equals the total value of the shares weights of each constituent security, multiplied by each security’s last price. Then, the total is modified by dividing by an index divisor. This amends the value to a more straightforward figure for reporting and broadcasting purposes. This calculation is reported each second and a final value is announced at 16:16 each trading day.

Nasdaq 100 vs Nasdaq Composite

Both indexes are commonly confused with each other. The Nasdaq Composite is often referred to as just ‘The Nasdaq’ and is quoted more in the mainstream media than the Nasdaq-100.

However, it is important to point out some crucial differences between the Nasdaq Composite and the Nasdaq-100. The Composite includes around 3,000 stocks that are traded on the Nasdaq exchange. Whereas, the Nasdaq-100 is a far smaller, subdivision, that includes around 100. The Nasdaq-100 is responsible for 67% of the total market capitalization of the Nasdaq Composite.

The Nasdaq-100 is a modified capitalization-weighted index. This methodology, created in 1998, enables Nasdaq brokers and the exchange to limit the impact of large companies, affording greater diversity.

Trading Hours

The Nasdaq Stock Market sessions in eastern time are:

It is 14:30 to 21:00 for those looking for the Nasdaq normal operating hours in GMT. This means for day traders in the UK or Europe, a significant part of the day will take place in the afternoon. Also note, trading can get choppy around 17:00 to 19:00 GMT when it is lunchtime in the US. Key times for specific securities will be listed on Nasdaq brokers’ websites.

Nasdaq Rules

Admission

Over time Nasdaq has introduced an array of demanding requirements that companies must meet in their listing application before they can be included in the index. Some of the most important standards are as follows:

Changes

Nasdaq velocity and forces see to it that the list of Nasdaq companies changes regularly. Delisting can occur when constituents declare bankruptcy, merge, transfer to another exchange, or fail to meet application listing requirements.

Apart from that, rankings are only changed once a year, in December. Nasdaq makes this determination using two factors:

Constituents ranked 101 to 125 only remain if they made the top 100 of the previous year’s annual review. Companies that fail to move into the top 100 in the next year’s review, will automatically be dropped.

When a company doesn’t make the top 125, they are demoted, regardless of their previous year’s ranking. If a company fails to achieve an index weighting of at least one-tenth of a percent after two consecutive months, they will also be dropped.

Uplisting requirements are relatively straightforward. Companies with the greatest market value who do not already feature in the index will replace the losers. It’s worth noting, predictions and forecasts as to who will be this year’s upgrades and movers, can all lead to stock price fluctuations at Nasdaq brokers.

A press release announcing changes will be given at least five business days before changes are scheduled to be made. Therefore, 2018 re-ranking results were announced on December 14th. Changes then took place on December 24th. Look out for scheduled dates within your Nasdaq brokers economic calendar.

Nasdaq Vs Dow Jones

You will often hear the term ‘the market’ used in discussions about both the ‘Nasdaq’ and the ‘Dow’. This has lead to confusion and a misunderstanding of how the two are different.

Firstly, the famous figure most commonly reported in business news reports is the Dow Jones Industrial Average (DIJA). It provides a strong indicator of how the overall stock market is performing.

The problem is, both terms refer to an index or average data derived from price movement within certain stocks. When you hear people saying ‘the Nasdaq is down’, they are referring to the Nasdaq Composite Index.

The DIJA tracks the performance of just 30 companies who are thought to be the major players in their respective industries. The Nasdaq Composite, however, tracks around 3,000 to 4,000 stocks listed on the Nasdaq exchange.

The DIJA is primarily concerned with companies on the NYSE and includes only a few Nasdaq stocks, such as Apple (AAPL), Cisco (CSCO), and Intel (INTC).

So, despite both referring to market indices, only the Nasdaq refers to an exchange where you can actually purchase and sell stock. However, strictly speaking, you cannot trade the Dow or Nasdaq indices. The indexes are just mathematical averages used by individuals to paint a clear picture of the stock market. What you can do, however, is purchase 100 index funds or exchange-traded funds, which are securities that track the indexes at Nasdaq brokers.

Biggest Players

So, who are the greatest movers and shakers that dominate volumes at Nasdaq brokers? Below you will find ten of the current heavyweights, their market capitalizations and 100 tickers.

  1. Apple Inc. (APPL) – $890.23 billion
  2. Google Inc. (GOOGL) – $771.43 billion
  3. Microsoft Corporation (MSFT) – $680.35 billion
  4. Amazon.com Inc. (AMZN) – $592.29 billion
  5. Facebook Inc. (FB) – $542.95 billion
  6. Intel Corporation (INTC) – $209.38 billion
  7. Cisco Systems Inc. (CSCO) – $195.45 billion
  8. Comcast Corporation (CMCSA) – $191.81 billion
  9. Pepsico Inc. (PEP) – $168.77 billion
  10. Amgen Inc. (AMGN) – $131.14 billion

All of the above boast massive net worths. Although, if you want to day trade any of these stocks, it warrants a careful strategy, as competition and risk are high. Your timings need to be accurate, as historical Nasdaq trading halts and patterns may not repeat going forward. Many of the top Nasdaq brokers will offer detailed insights into leading stocks, along with key financial metrics.

We are often asked for “the best stocks on the Nasdaq” or “the best Nasdaq stocks to buy today” – when it comes to short term trading, you need liquidity and some level of volatility (you can not trade static prices). So for those reasons, the above equities are the most frequently traded. So there is no ‘best stock’ to trade, but the larger volumes suit shorter term trades most.

Why Trade The Nasdaq?

Forget dividend stocks, mutual funds and leveraged ETFs for a minute. What, if any, are the main reasons to focus your trading attention on Nasdaq brokers and assets?

How To Start Day Trading The Nasdaq

Strategy

Once you have selected from the list of top Nasdaq brokers, you can start investing. The cost of day trading Nasdaq stocks can quickly rack up if you do not have an effective strategy. In today’s world of stock charts and market data, the importance of utilizing effective technical analysis is vital.

Quite simply, the right chart will paint a clear picture of historical price data, highlighting patterns that will enable you to better predict future price movements. Your trading platform via Nasdaq brokers, be it MetaTrader 4 (MT4), or an alternative, should allow you create an array of graphs and charts. It is worth making sure you can access strong trend tracking and comprehensive price history, plus information on company economics at Nasdaq brokers. All of which, if used correctly, could bolster your performance. Whichever terminal is your preference, ensure it is reliable and stable as it is your gateway to the market.

For detailed fundamental analysis guidance, see our charts, patterns, and strategy guides.

Stock Screening

One of the best things about day trading with the Nasdaq Index is that in many ways, you can trade it just like you would commodities, forex, the FTSE, or the CAC 40 index. This is because ultimately, you are trading against people, who are predictable.

The biggest hurdle though isn’t getting your head around the Nasdaq 20 and 5635 rules, or 100 heat maps and 5-year graphs. Instead, it’s ascertaining which stocks to trade via Nasdaq brokers. Which of the thousands of opportunities will provide you with most profit potential?

Do you opt for popular stocks like Facebook or Nike? Alternatively, do you stick to IPOs and hope to profit from the brief hype? Whatever your strategy, finding the best day trading stocks is half the battle. Fortunately, several of the best stock screening techniques have been outlined below.

1. Use Pre-market Movers

Pre-market movement throws many day traders. A stock could be up 5% in the pre-market, only to open up 1% when the opening bell rings. A combination of price shifts and minimal volume is often to blame.

So, be at your desk scanning stocks with plenty of time before the session begins. Look for the following:

Typically Nasdaq brokers should offer you a selection of pre-market movers. However, if they do not, or you want to try another resource, below are some popular alternatives:

2. Utilize Volume

If you have plenty of funds in your account, you want to be looking for stocks that enable you to enter and exit positions with ease. Some people like to use 35,000 shares per 5-minute bar as a minimum.

Nasdaq brokers will normally provide you with a volume chart, showing history, leaders, and highlighting any unusual volume patterns. However, you may find the list contains just the top twenty or so stocks. This is where an abundance of day traders will be.

The solution – broadening your search to investigate opportunities that aren’t on the radar of every other day trader.

It’s also worth pointing out that you want stocks that are increasing in volume compared to themselves. A stock that normally trades at 1.5 million shares a day, but has 4 million shares traded before 10:00 is something to take note of.

If Nasdaq brokers fail to provide a thorough screener for high volume stocks, consider the highly regarded alternatives below:

The best stocks to trade with Nasdaq brokers are those with increased volume.

3. Monitor Earnings Calendars

If you’re looking for a volatility trigger, an earnings report is ideal. Whilst you don’t want to enter a position before the earnings announcement, you do want to have an idea of who is likely to move. You can then add these to your watch list. All of the websites below publish earnings calendars which are often integrated into Nasdaq brokers’ platforms:

4. Develop A Niche

Technology giants and retailers dominate the Nasdaq weightings. So, focus on an industry and track the movement of top issues. See how a couple of the top stocks trade, follow their movements and you’ll be in a better position to predict price fluctuations in future at Nasdaq brokers.

However, it’s worth noting those that are always found at the tops of indices do not necessarily make the best investment decisions. They put you in close competition with thousands of other day traders. Instead, consider opting for companies such as Paypal (PYPL), Tesla (TSLA), or IBM, for example.

Unfortunately, those who opt for the jack of all trades, master of none approach, often find themselves out of pocket.

Nasdaq Brokers Day Trading Tips

Rise & ShineNasdaq brokers trading hours

Those high Nasdaq historical returns are harder to come by today. No longer can you get to your desk at 09:15 to start the day. The market speed is increasing, with a surge in volume from hedge funds.

As a result, premarket hours have become essential. You need to be up and prepping for the trading session ahead at around 08:00. This allows you enough time to conduct your morning research, check yesterday’s performance, configure your monitors, and decide which stocks you will actively track for the day. The top Nasdaq brokers may also permit extended hours trading meaning you can buy and sell securities when major markets are closed.

Demo Account

Every market moves in a different way and is home to its own unique nuances. That’s why switched on day traders will practice with a demo account. Many Nasdaq brokers provide this service free of charge. Demo accounts are usually funded with simulated money. This means you don’t have to risk real capital until you feel confident.

A Nasdaq market simulation is the perfect place to craft a strategy and test a platform. Then when you’re turning consistent profits by the closing bell each day, you can upgrade to a real-time account at brokers that support trading on the Nasdaq.

News

One of the biggest catalysts for price movements in the Nasdaq indices are news announcements. So, staying tuned into the news is essential, as successful day trader David Rogerson has highlighted. If you can react to the news before most of the market, you have got your edge. Thankfully, there is now a vast array of news sources out there at Nasdaq brokers and beyond. To name just a few popular websites:

News websites and Nasdaq brokers can often provide economic calendars too. This allows you to track quarterly earnings, plus yearly charts and returns.

Traders who fail to keep up to date with the news, often find themselves lagging behind on trading days, making costly mistakes and missing opportune moments. You want to be up to date with investor relations, IPO calendars, and other ventures of interest. Look out for Nasdaq brokers that integrate these into their services and tools. Being able to access all this information at the click of a button will be advantageous.

Educational Resources

Successful trader Paul Tudor Jones correctly asserted, “The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge.” Markets and instruments evolve and you must adapt alongside them. In today’s digital world, you have access to a multitude of invaluable resources that can help enhance your performance. To name some of the most beneficial resources out there:

The top Nasdaq brokers will provide a variety of resources and content within their platforms. Interactive Brokers, for example, hosts a full training academy, suited to both new and experienced day traders. Topics include a full keyword glossary, podcasts, blog posts and short videos.

Nasdaq Websites

On top of the above educational resources available via Nasdaq brokers and internet sources, there now exists a number of Nasdaq specific websites that offer a whole host of data, information, and explanations. They could help you with:

Automation

One of the top Nasdaq brokers tips is to explore automated trading once you have an effective strategy. Once you’ve ironed out any creases, algorithms and robots can execute trades on your behalf. They act on the pre-determined criteria, saving you time and potentially increasing your profits. This is because an automated system can make far more trades than you ever could manually.

Journal

A journal is a fantastic way to monitor and improve your trading performance. You can use an Excel spreadsheet as your journal or some Nasdaq brokers permit notes to be made within a client dashboard. Note down the following:

What’s the meaning of all this? With this data laid out in front of you, it’s far easier to compare this with your earnings calendar to identify where and why you are going wrong. Those without Nasdaq diaries can go on trading for many months, sacrificing profits, before they hone in on the problem.

Practise trading within a Nasdaq brokers’ demo account offering. Finesse a strategy and trade completely risk-free with virtual funds.

Final Word On Nasdaq Brokers

Despite blockchain and Bitcoin dominating the news of late, the Nasdaq indices continue to house some of the most powerful and influential companies in the world. Therefore, it is little surprise to learn an increasing number of day traders are looking to try their hand at Nasdaq brokers.

However, to maintain an edge and secure those high returns, you will need to utilize the range of resources available to you. Compare Nasdaq brokers suited to your investment needs and develop an intelligent and effective strategy.