Best Stock Brokers For Day Trading
Want to buy shares or speculate on stock prices but don’t know which brokerage to use? We’ve reviewed, compared and rated the best stock brokers and platforms for day trading stocks.
Top 10 Stock Brokers for Day Trading
Our comprehensive analysis of 216 brokers, conducted as of December 2024, reveals the following day trading platforms as the top choices for stock traders. Every stock broker listed we evaluated using a real money or test account.
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1
FOREX.comActive Trader Program With A 15% Reduction In Costs
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.01 Lots1:50NFA, CFTCForex, Stocks, Futures, Futures OptionsMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentralWire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN -
2
Interactive Brokers
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$0$1001:50FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFMStocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, CryptocurrenciesTrader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentralCheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit CardUSD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF -
3
NinjaTrader
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:50NFA, CFTCForex, Stocks, Options, Commodities, Futures, CryptoNinjaTrader Desktop, Web & Mobile, eSignalACH Transfer, Debit Card, Wire Transfer, ChequeUSD -
4
eToro USAInvest $100 and get $10Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk. https://www.daytrading.com/ is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$100$10SEC, FINRAStocks, Options, ETFs, CryptoeToro Trading Platform & CopyTraderACH Transfer, Debit Card, PayPal, Wire TransferUSD -
5
IGForex trading involves risk. Losses can exceed deposits.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:30 (Retail), 1:250 (Pro)FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFMCFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread BettingWeb, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentralPayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit CardUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD -
6
Videforex20% to 200% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$250$0.011:500Binary Options, CFDs, Forex, Indices, Commodities, CryptoTradingViewSkrill, Perfect Money, Bitcoin Payments, Neteller, Credit Card, Visa, Mastercard, Ethereum PaymentsUSD, EUR, GBP, AUD, RUB -
7
Capitalcore40% Deposit Bonus up to $2,500
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$100.01 Lots1:2000IFSAForex, Metals, Stocks, Cryptos, Futures IndicesWebTrader, ProEthereum Payments, Mastercard, Visa, Perfect Money, Bitcoin Payments, Debit Card, Credit Card, PayPalUSD -
8
Plexytrade120% Cash Welcome Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$500.011:2000CFDs, Forex, Indices, Stocks, Commodities, CryptoMT4, MT5Bitcoin Payments, Ethereum PaymentsUSD, EUR -
9
RedMars
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
€2500.01 Lots1:30 (Retail), 1:500 (Pro)CySEC, AFMCFDs, Forex, Stocks, Indices, Commodities, CryptosMT5Credit Card, Wire Transfer, Debit Card, Sticpay, FasaPay, Bitcoin Payments, Trustly, PayPal, Skrill, Neteller, Klarna, Mastercard, VisaUSD, EUR -
10
MoomooGet up to 15 free stocks worth up to $2000
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$0$01:2SEC, FINRA, MAS, ASIC, SFCStocks, Options, ETFs, ADRs, OTCsDesktop Platform, Mobile AppWire Transfer, ACH TransferUSD, HKD, SGD
Here is a summary of why we recommend these brokers:
- FOREX.com - FOREX.com provides access to a wide array of US, EU, and UK stock CFDs, featuring spreads as narrow as 1 point. This enables you to speculate on established household names and emerging IPOs, fostering ample opportunities for diversification within stock portfolios. US stocks are accessible from as low as 1.8 cents per share.
- Interactive Brokers - IBKR provides access to an unparalleled array of equity products originating from 24 diverse countries. Whether seeking capital appreciation, dividends, or voting rights, you can directly invest in stocks. Alternatively, you can engage in speculative trading on price movements through CFDs, futures and more than 13,000 ETFs. IBKR also enhanced its European equity derivatives offering in 2024 by adding trading on CBOE Europe Derivatives (CEDX).
- NinjaTrader - Stocks can be traded by connecting the NinjaTrader platform to supporting brokers. The firm also provides access to a range of index futures via standard and micro contracts, including the E-Mini S&P 500 Index Futures and E-Mini Russell 2000 Index Futures.
- eToro USA - You can trade 3000+ popular US stocks and ETFs at eToro US, with zero commissions and fractional shares available. The broker remains an excellent choice for beginner stock traders, thanks to its comprehensive eToro Academy and user-friendly stock market research features.
- IG - IG offers 13,000+ shares to trade or invest in, with more listed firms than nearly every competitor. The broker also excels for its zero commissions on US shares, while out-of-hours trading provides access to 70+ shares, plus popular ETFs and trusts, when the markets are closed.
- Videforex - Trade binary options and CFDs on global stocks from US, European, Russian and Asian exchanges, as well as 37 indices covering a wide range of global markets. The access to stocks trumps many binary options brokers.
- Capitalcore - Capitalcore offers just 18 stocks spanning major US firms like Apple, Netflix and Nvidia and a handful of futures indices. However, this falls way short of the 16,000+ global stocks and indices at alternatives like IG. Also, the lack of screeners and market insights results in a very limiting stock trading experience.
- Plexytrade - Plexytrade's range of 48 US stock CFDs trails most competitors, though the selection of 15 popular global indices (including S&P 500, Nasdaq 100, and Dow Jones) is reasonable. Still, the lack of stock market research tools like stock screeners and the minimum deposit requirement to access the economic calendar (a typically free feature at other stock brokers) is disappointing.
- RedMars - RedMars offers over 120 stock CFDs, covering popular US, UK and European markets. Commission-free trading on stocks is also available, providing straightforward pricing. However, there are zero stock screeners to aid trading decisions, while competitors like IG offer superior access to the stock market with over 17,000 shares.
- Moomoo - Moomoo continues to offer a wide selection of US, Australia, Singapore and Hong Kong stocks, plus China-A shares trading across options, futures, ETFs, ADRs, OTC, plus IPOs on a proprietary trading platform. The zero commissions, no account minimum and free level 2 data are also standout features.
Best Stock Brokers For Day Trading Comparison
| Broker | Minimum Deposit | Stock Trading App | Stock Fee | Extended Hours | Financial Regulator |
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$100 | iOS & Android | 0.14 | ✘ | NFA, CFTC |
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$0 | iOS & Android | 0.003 | ✔ | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
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$0 | iOS & Android | - | ✘ | NFA, CFTC |
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$100 | iOS & Android | $0 | ✔ | SEC, FINRA |
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$0 | iOS & Android | 0.02 | ✔ | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM |
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$250 | Android | NA | ✘ | - |
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$10 | - | 1.5 (Apple) | ✘ | IFSA |
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$50 | iOS & Android | 5 | ✘ | - |
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€250 | iOS & Android | Variable | ✘ | CySEC, AFM |
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$0 | Yes (iOS & Android) | $0 per trade | ✔ | SEC, FINRA, MAS, ASIC, SFC |
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 Offer | Active Trader Program With A 15% Reduction In Costs |
|---|---|
| Fractional Shares | No |
| Demo Account | Yes |
| Regulator | NFA, CFTC |
| Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral |
| Minimum Deposit | $100 |
| Automation | Yes |
| Account Currencies | USD, 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
- 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.
- There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
- FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
Cons
- 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.
- FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
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."
Interactive Brokers Quick Facts
| Fractional Shares | Yes |
|---|---|
| Demo Account | Yes |
| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral |
| Minimum Deposit | $0 |
| Automation | Yes |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Stock Exchanges
Interactive Brokers offers trading on 16 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
- Tadawul
- Toronto Stock Exchange
Pros
- IBKR continues to deliver unmatched access to global stocks with tens of thousands of equities available from 100+ market centres in 24 countries, most recently the Saudi Stock Exchange.
- While primarily geared towards experienced traders, IBKR has made moves to broaden its appeal in recent years, reducing its minimum deposit from $10,000 to $0.
- IBKR is one of the most respected and trusted brokerages and is regulated by top-tier authorities, so you can have confidence in the integrity and security of your trading account.
Cons
- 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.
- 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.
- 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.
NinjaTrader
"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."
Tobias Robinson, Reviewer
NinjaTrader Quick Facts
| Fractional Shares | No |
|---|---|
| Demo Account | Yes |
| Regulator | NFA, CFTC |
| Platforms | NinjaTrader Desktop, Web & Mobile, eSignal |
| Minimum Deposit | $0 |
| Automation | Yes |
| Account Currencies | USD |
Stock Exchanges
NinjaTrader offers trading on 2 stock exchanges:
- Chicago Mercantile Exchange
- New York Stock Exchange
Pros
- You can get thousands of add-ons and applications from developers in 150+ countries
- NinjaTrader continues to deliver comprehensive charting software for active day traders with bespoke technical indicators and widgets
- NinjaTrader is a widely respected and award-winning futures broker and is heavily authorized by the NFA and CFTC
Cons
- Non forex and futures trading requires signing up with partner brokers
- The premium platform tools come with an extra charge
- There is a withdrawal fee on some funding methods
eToro USA
"eToro remains a top pick for traders looking for leading social investing and copy trading services. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer day traders."
Jemma Grist, Reviewer
eToro USA Quick Facts
| Bonus Offer | Invest $100 and get $10 |
|---|---|
| Fractional Shares | Yes |
| Demo Account | Yes |
| Regulator | SEC, FINRA |
| Platforms | eToro Trading Platform & CopyTrader |
| Minimum Deposit | $100 |
| Automation | Yes |
| Account Currencies | USD |
Stock Exchanges
eToro USA offers trading on 3 stock exchanges:
- Dow Jones
- New York Stock Exchange
- S&P 500
Pros
- A free demo account means new users and prospective day traders can try the broker risk-free
- The broker's Academy offers comprehensive learning materials for beginners to advanced-level investors
- Investors can access Smart Portfolios for a more hands-off approach, covering a range of sectors and markets such as renewable energy and artificial intelligence
Cons
- There's no MetaTrader 4 platform integration for traders who are accustomed to using third-party charting tools
- There's a narrower range of day trading instruments available compared to competitors, with only stocks, ETFs and cryptos
- The proprietary terminal doesn't support trading bots and there are no additional stock market analysis tools
IG
"IG continues to provide a comprehensive package with an intuitive web platform, best-in-class education for beginners, advanced charting tools bolstered by its recent TradingView integration, real-time data, and fast execution speeds for experienced day traders."
IG Quick Facts
| Fractional Shares | No |
|---|---|
| Demo Account | Yes |
| Regulator | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM |
| Platforms | Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral |
| Minimum Deposit | $0 |
| Automation | Yes |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD |
Stock Exchanges
IG offers trading on 20 stock exchanges:
- Australian Securities Exchange (ASX)
- Bombay Stock Exchange
- Borsa Italiana
- Deutsche Boerse
- Dow Jones
- Euronext
- Hong Kong Stock Exchange
- IBEX 35
- Japan Exchange Group
- Korean Stock Exchange
- London Stock Exchange
- National Stock Exchange Of India
- Russell 2000
- S&P 500
- SIX Swiss Exchange
- Shanghai Stock Exchange
- Shenzhen Stock Exchange
- Tadawul
- Taiwan Stock Exchange
- Toronto Stock Exchange
Pros
- As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust.
- IG is amongst the best in terms of its range of instruments, which includes stocks, forex, indices, commodities, and cryptocurrencies, plus recently added US-listed futures and options, providing ample diversification opportunities.
- The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for day trading, while IG has also added TradingView integration.
Cons
- Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges.
- While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients.
- IG has discontinued its swap-free account, reducing its appeal to Islamic traders.
Videforex
"Videforex will serve traders looking for a no-frills, easy-to-use platform to speculate on the direction of popular financial markets through binaries. With a sign-up process that takes a matter of minutes and a web-accessible platform, getting started is a breeze. "
Videforex Quick Facts
| Bonus Offer | 20% to 200% Deposit Bonus |
|---|---|
| Fractional Shares | No |
| Demo Account | Yes |
| Platforms | TradingView |
| Minimum Deposit | $250 |
| Automation | Yes |
| Account Currencies | USD, 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
- Videforex is one of the few brokers with 24/7 multilingual video support, providing comprehensive assistance for active traders.
- Videforex regularly runs trading contests, offering practice opportunities and cash prizes to beginners and experienced traders, with position sizes from just ¢0.01.
- Traders can earn up to 98% payouts on 100+ assets with the broker’s binary options, bringing it in line with competitors like IQCent.
Cons
- Videforex lacks authorization from a trusted regulator, meaning traders may receive little to zero safeguards like segregated client accounts.
- The client terminal needs improvements based on our latest tests, sporting sometimes slow and unresponsive widgets which could dampen the experience for day traders.
- The absence of any educational tools is a serious drawback for newer traders who can find blogs, videos and live trading sessions at category leaders.
Capitalcore
"The major selling points of Capitalcore are its high leverage options up to 1:2000 and zero commission or swap fees. However, its weak regulatory oversight from the IFSA and non-existent education place it far behind the top brokers."
Capitalcore Quick Facts
| Bonus Offer | 40% Deposit Bonus up to $2,500 |
|---|---|
| Fractional Shares | No |
| Demo Account | Yes |
| Regulator | IFSA |
| Platforms | WebTrader, Pro |
| Minimum Deposit | $10 |
| Automation | No |
| Account Currencies | USD |
Stock Exchanges
Capitalcore offers trading on 5 stock exchanges:
- DAX GER 40 Index
- Dow Jones
- FTSE UK Index
- Nasdaq
- S&P 500
Pros
- Capitalcore is one of the only brokers to charge zero swap fees, which may appeal to Islamic traders looking to comply with Islamic Finance.
- The Capitalcore platform provides comprehensive charting tools and a wide range of 150+ technical indicators, ideal for detailed market analysis.
- The support team are available 24/7 and responded within minutes during testing with helpful responses.
Cons
- Capitalcore’s threadbare education and research seriously trail category leaders like IG, making it less suitable for aspiring traders.
- Platform support is limited to proprietary software, so there's no integration with the market-leading MetaTrader or cTrader, which offer built-in economic news and support automated trading.
- The web platform was inconsistent during testing, with occasional technical glitches that meant the trading platform wouldn’t load.
Plexytrade
"Plexytrade is a newcomer in the brokerage scene with attention-grabbing features like 1:2000 leverage, zero spreads on select instruments and fast execution speeds of less than 46 milliseconds. However, the absence of regulation is a significant concern, while the non-existent research and educational tools place it far behind industry frontrunners."
Plexytrade Quick Facts
| Bonus Offer | 120% Cash Welcome Bonus |
|---|---|
| Fractional Shares | No |
| Demo Account | Yes |
| Platforms | MT4, MT5 |
| Minimum Deposit | $50 |
| Automation | Yes |
| Account Currencies | USD, EUR |
Stock Exchanges
Plexytrade offers trading on 15 stock exchanges:
- Australian Securities Exchange (ASX)
- 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
- New York Stock Exchange
- Russell 2000
- S&P 500
- SIX Swiss Exchange
Pros
- Plexytrade offers among the highest leverage we’ve seen, up to 1:2000, catering to advanced traders willing to forego regulatory protections.
- Plexytrade accommodates a range of trading methods and short-term strategies, including scalping, hedging, and automated trading.
- Despite lacking regulation, Plexytrade provides negative balance protection and reinforces safety protocols by holding client funds in segregated accounts.
Cons
- With around 100 instruments, Plexytrade restricts the flexibility of investors who prefer to trade across various assets, especially compared to Blackbull with its 26,000 securities.
- There are no research and educational materials, falling short of alternatives like IG, while access to the economic calendar is restricted to clients with balances of $500.
- Deposits and withdrawals are exclusively facilitated through cryptocurrencies, as Plexytrade does not support bank cards, bank wire transfers, or e-wallets.
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."
RedMars Quick Facts
| Fractional Shares | No |
|---|---|
| Demo Account | Yes |
| Regulator | CySEC, AFM |
| Platforms | MT5 |
| Minimum Deposit | €250 |
| Automation | Yes |
| Account Currencies | USD, 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
- The broker supports a range of flexible payment methods, including wire transfers, credit cards, e-wallets, and notably cryptocurrencies
- The broker is one of a limited number of firms to offer an account specially designed for VIPs with premium support and invites to exclusive events
Cons
- 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
- The no-frills trading environment offers little beyond the basics, with no Islamic account, PAMM account or copy trading.
- With just 300 instruments, RedMars offers a narrow trading environment, particularly compared to category leaders like BlackBull Markets which offers 26,000 assets
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."
Moomoo Quick Facts
| Bonus Offer | Get up to 15 free stocks worth up to $2000 |
|---|---|
| Fractional Shares | No |
| Demo Account | Yes |
| Regulator | SEC, FINRA, MAS, ASIC, SFC |
| Platforms | Desktop Platform, Mobile App |
| Minimum Deposit | $0 |
| Automation | No |
| Account Currencies | USD, 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
- There is no minimum deposit requirement making the broker accessible for beginners
- 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 negative balance protection, which is a common safety feature at top-tier-regulated brokers
- 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
How Did DayTrading.com Choose The Best Brokers For Day Trading Stocks?
We exhaustively evaluated each stock broker, assigning them an overall rating that served as the basis for our platform rankings. This rating is a culmination of:
- Quantitative metrics: We scrutinized over 200 data points across 8 core categories, carefully documented by our experts.
- Qualitative insights: Our extensive testing process yielded valuable observations that further informed our evaluation.
Below are the key considerations that shaped our stock broker ratings. We recommend you take these factors into account when choosing an online stock broker.
Regulation and Trust
We prioritized online stock brokers that are authorized by trusted financial regulators like the US Securities & Exchange Commission (SEC), UK Financial Conduct Authority (FCA), and Australian Securities & Investments Commission (ASIC).
That’s because top-tier regulators ensure stock brokerages provide measures that can help protect your capital from business failure. The UK’s Financial Services Compensation Scheme (FSCS), for example, protects investments up to £85,000.
Leading regulators also enforce restrictions on leveraged stock trading for retail investors, typically set at 1:5. Leveraged trading is particularly common among short-term traders and it’s regulated to curb potential losses, offering protection in case the stock markets move against you.
- Plus500 maintains its position as one of the most heavily regulated stock brokers (via CFDs) we’ve tested with real money, earning our trust with 7 licenses and a listing on the London Stock Exchange.
Stock Trading Fees
We chose brokers that offer low stock trading and non-trading fees, taking into account commissions on popular shares, margin fees, plus any deposit/withdrawal and inactivity charges.
Picking a brokerage account with low trading fees is especially important if you are day trading stocks, as a large volume of transaction fees can cut into profit margins.
- XTB continues to stand out for its low stock trading fees after introducing zero commissions on shares and charging a competitive 0.5% conversion fee. It’s also one of a limited number of stock brokers we’ve tested to offer high interest on uninvested cash (up to 4.9%).
Stock Market Access
We favored brokers with access to a wide range of stock exchanges, providing short-term trading opportunities across a selection of markets and industries.
Importantly, stock market trading is centralized, meaning that shares in most large companies are sold through national exchanges, such as the New York Stock Exchange (NYSE), National Association of Securities Dealers Automated Quotations (NASDAQ), and London Stock Exchange (LSE).
Companies will not be listed on all exchanges, therefore, you should look for a broker with a global reach, especially if you want to build a diverse portfolio.
Also, some brokers specialize in buying and selling company shares directly, while others only allow you to speculate on stocks as the underlying assets using products like CFDs. These derivatives can be an excellent option for day traders looking for leveraged vehicles to profit from shorter-term price movements.
- Year after year, we’ve been impressed with CMC Markets, which offers an almost unrivalled suite of 10,000+ shares including major stocks in technology, banking, finance, plus consumer and retail sectors.
Stock Trading Platforms and Apps
We selected brokers with excellent stock trading platforms and apps that have clearly been designed with ease of use in mind for beginner traders, alongside helpful stock screeners and sophisticated analysis tools for advanced investors.
That’s because a user-friendly platform ensures smooth navigation, timely execution of trades, and provides valuable tools and insights to inform stock trading decisions.
- eToro’s stock trading platform and app stood out during testing for its simple interface that will appeal to new traders. It also provides intuitive charting and in-built indicators that will serve day traders, as well as integrated research and news feeds, trading calendars and expert commentary.
What Is A Stock Broker?
An online stock broker allows you to purchase company stocks and shares, or trade related derivatives like CFDs, via a website, desktop platform or mobile app, using just the internet.
These brokers will have connections to the stock market and will purchase the stock on your behalf. Trades can be executed at the click of a button, in real-time via their online platforms.
How Do Stock Brokers Make Money?
Stock brokers make money through several avenues. Often you will pay a commission, which is a flat fee per transaction. That said, we’re increasingly seeing online stock brokers, such as XTB, move to commission-free models.
In these instances, stock brokers may make money through a markup on the spread, which is the difference between the price a buyer is willing to pay (bid) and the price a seller is willing to accept (ask) for a particular stock, representing the transaction cost and liquidity in the market.
Some stock brokers are also market makers meaning they create liquidity by taking the other side of your trade. Sometimes, brokers can make money this way if a stock trader makes a loss.
How Do I Start Trading Stocks?
The first step is to open an account with a stock brokerage.
You will find a wide assortment of online stock brokers and trading platforms available online, but choosing the best one for you depends on the stocks you want to trade, your trading strategy and your personal preferences.
You will then need to deposit the minimum amount, which typically ranges from $0 to $500. We’ve learned that depositing more upfront can often provide access to better quality stock trading tools and market research.
After that, you can log into the stock trading platform or app to find opportunities and place trades.
If you are new to stock trading, I recommend starting with a demo account. They simulate real-life market conditions, but any orders placed are with ‘paper money’. This means you can explore a platform and practice day trading stocks before risking real money.
FAQ
Are Online Stock Brokers Safe?
The best way to stay safe is to choose a trustworthy stock broker. The most reliable sign of a trustworthy stock broker is authorization from one or more respected regulators, such as the SEC in the US, the ASIC in Australia, the FCA in the UK, or the CySEC in Europe.
We regularly verify the licenses of our recommended stock brokers on the respective regulator’s database to ensure they are authorized by the financial bodies they claim to be.
Our team is also comprised of industry experts who keep abreast of major security incidents and unfair trading practices – marking such stock brokerages down where appropriate. This was the case with Robinhood when its trading practices were found to be harmful to retail investors.
Which Is The Best Stock Broker For Beginners?
Pepperstone, XTB and eToro are our top picks for beginner day traders. They all have minimum deposits of <$10, free demo accounts so you can practice stock trading, and useful educational materials that we’ve explored ourselves.
Both XTB and eToro also offer fractional shares, lowering the entry barrier on high-value stocks.
Which Is The Best Stock Broker For Advanced Traders?
Interactive Brokers, IG and City Index are our top picks for advanced day traders. They offer a huge range of stocks with professional-grade platforms for market analysis, excellent research and reliable execution.