Best Swing Trading Brokers

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

Edited By

Michael MacKenzie

Edited By

Michael MacKenzie

Michael is a writer and editor with over a decade in journalism and publishing. His niche lies in editing and fact-checking content in the financial services sector, with a focus on online brokers and trading platforms. Michael previously reported on politics and economics in the Middle East and edits books for established publishers.

» Michael MacKenzie Profile Page

Updated

Mar 22, 2024

Swing traders aim to profit from short-to-medium-term price movements in financial markets. Our team has reviewed hundreds of platforms to bring you our pick of the best swing trading brokers, considering:

Best Brokers for Swing Trading 2024

Following our analysis, these 5 swing trading accounts stand out as the best:

1. AvaTrade
2. OANDA US
3. Deriv.com
4. Pepperstone
5. XM

Best Swing Trading Brokers Comparison

Best Swing Trading Brokers Comparison

Broker	Minimum Deposit	Trading Fees	Investments	Platforms	Regulators	Visit
	-	3.9 / 5	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting	WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade	ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM	Visit
	$0	3.4 / 5	Forex, Crypto	OANDA Trade, MT4, TradingView, AutoChartist	NFA, CFTC	Visit
	$5	3.8 / 5	CFDs, Multipliers, Forex, Stocks, Indices, Commodities	Deriv Trader, MT5	MFSA, LFSA, VFSC, BFSC	Visit
	$0	4.4 / 5	CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting	MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade	FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB	Visit
	$5	3.5 / 5	Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures	MT4, MT5	ASIC, CySEC, DFSA, FSC, FSCA	Visit
	$200	4.6 / 5	CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto	MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade	ASIC, CySEC, FSA	Visit
	$100	3.6 / 5	CFDs, Forex, Stocks, Indices, Commodities	MT4, MT5, TradingView	ASIC, FCA, xCySEC, SCB	Visit
	$50	-	CFDs, Forex, Indices, Commodities	MT4, MT5	CySEC	Visit
	$0	4.2 / 5	CFDs, Forex, Stocks, Cryptos, Options, Commodities, Bonds	MT4, TradingView, TradingCentral	ASIC, FCA, MAS	Visit
	$10	-	CFDs, Forex, Stocks, Indices, Commodities, Crypto	Exness Trade App, MT4, MT5, TradingCentral	FSA, CySEC, FCA, FSCA, FSC, CBCS	Visit
	$100	-	CFDs, Forex, Indices, Commodities, Stocks, Crypto	MT4, MT5	ASIC	Visit
	$100	3.9 / 5	CFDs, Forex, Stocks, Cryptos, Futures, Options, Commodities	MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral	NFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMA	Visit
	$50	3 / 5	CFDs, Forex, Stocks, ETFs, Cryptos, Futures, Commodities, Bonds	eToro Web, CopyTrader, TradingCentral	FCA, ASIC, CySEC, FSA, FSRA, MFSA	Visit
	$10	3 / 5	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures	R StocksTrader, MT4, MT5, TradingView	IFSC	Visit
	-	2.3 / 5	CFDs, Forex, Stocks, ETFs, Cryptos, Futures, Commodities	MT4, MT5	-	Visit

#1 - AvaTrade

Visit

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.

"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."

- DayTrading Review Team

• 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

• The broker’s unique risk management tool, AvaProtect, protects against losses up to $1 million and is easy to activate in the platform
• Day traders can access stable spreads and zero commissions with no hidden fees
• AvaTrade is a heavily regulated and trustworthy broker with licenses from the ASIC, CySEC and more

Cons

• There is no ECN account with raw spreads
• Traders from the US are not accepted
• It’s a shame that there are no rebate schemes for serious traders looking for additional perks - CMC Markets would be a better choice here

Visit AvaTrade

#2 - OANDA US

Visit

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.

"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."

- DayTrading Review Team

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

Pros

• Beginners can get started easily with $0 minimum initial deposit
• Seasoned day traders can access industry-leading tools, including an MT4 premium upgrade and advanced charting provided by MotiveWave
• Day traders can enjoy fast and reliable order execution

Cons

• It's a shame that customer support is not available on weekends
• There's only a small range of payment methods available, with no e-wallets supported
• The range of day trading markets is limited to forex and cryptos only

Visit OANDA US

#3 - Deriv.com

Visit

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.

"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. "

- DayTrading Review Team

• 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

• Beginners and experienced day traders can access a good range of 20+ technical indicators in Deriv Trader vs 30+ in MT5
• There's a good range of fast deposit and withdrawal methods with zero payment fees and low minimum deposits
• Deriv continues to offer fast and reliable 24/7 support and the WhatsApp service is particularly convenient

Cons

• There's no loyalty program or rebate scheme for high volume traders
• 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

Visit Deriv.com

#4 - Pepperstone

Visit

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.

"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."

- DayTrading Review Team

• 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

• Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.
• 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.
• Now offering spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools.

Cons

• There’s no simplified proprietary trading platform, nor are there any social trading features, which could be a disadvantage if you are new to day trading.
• 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’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

Visit

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.

"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."

- DayTrading Review Team

• 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

• Transparent and low fees with spreads from 0.0 pips that will help protect day trading profit margins
• 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

Cons

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

Visit XM

Comparing Swing Trading Brokers

These are the key considerations we took into account to compile a list of the best swing trading brokers:

Minimum Deposit

The top brokers for swing traders offer a low minimum deposit.

Signing up with a broker that has a low starting investment reduces the entry barrier, especially for beginners.

We consider anything below $500 accessible for the majority of traders, though many platforms have much lower starting deposits and some even have no account minimums.

Fees for Swing Traders

Swing traders are fairly active, so we favor low-cost brokers to help protect profit margins.

The key things our team looked for are tight spreads and low commissions. It is also important to consider non-investing fees such as deposit and withdrawal charges, inactivity penalties, plus fees to access advanced market research tools to support decision-making.

Importantly, our tests have taught us that the cheapest brokers are not always the best, so we weigh the costs against the quality of the accounts, tools and order execution.

Offering of Investments

Diversification is important for swing traders, so we prefer online brokers that offer a broad selection of asset classes.

One of the benefits of swing trading is the ability to hold multiple positions across different markets and sectors, thereby reducing the impact of negative price movements in individual positions. As a result, we looked for brokers that offer opportunities on a range of assets, from stocks and commodities to forex and cryptocurrencies.

Platforms and Research Tools

The best swing trading brokers offer easy-to-use platforms with sophisticated tools.

Swing traders typically use a combination of technical and fundamental analysis to identify potential trades, so we searched for brokers with interactive charts, technical indicators, news streams, data on companies, and financial calendars.

Two of the most popular platforms with swing traders are MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These offer comprehensive technical analysis features, including indicators and drawing tools, enabling swing traders to identify entry and exit points. They also support automated investing through Expert Advisors (EAs).

TradingView is another great option for swing traders, with powerful charts, real-time news, screeners and alerts. This is our top pick for charting software.

Safety and Regulation

Safety is a key consideration and the easiest way to discern a credible broker is through regulatory oversight.

Swing trading with a well-regulated broker will help protect your funds while ensuring the brokerage operates ethically. Our experts always check a broker’s regulatory credentials as part of the review process.

Trustworthy brokers are regulated by credible financial agencies, such as the UK Financial Conduct Authority (FCA), the Australian Securities & Investments Commission (ASIC) and the Cyprus Securities & Exchange Commission (CySEC).

FAQ

What Is A Swing Trading Broker?

A swing trading broker is an intermediary that enables retail investors to speculate on short-to-medium-term price fluctuations in financial markets with the aim of making a profit.

The top swing trading brokers offer accessible accounts with low fees, excellent charting platforms and market research, plus access to a range of asset classes, such as stocks, commodities and forex.

Which Brokers Do Swing Traders Use?

We have listed the best brokers for swing traders. Our team considered several factors during testing, including the minimum deposit, fees for swing traders, the investment offering, plus the quality of the platform and research tools. We also evaluated firms’ regulatory status and account safeguards.

What Is The Best Swing Trading Platform?

TradingView is the best platform for swing trading in our view. We found it easy to use during our tests and it offers excellent tools for swing traders, including 14 charting types, 100+ technical indicators, news feeds, fundamental research, screeners, alerts and more.

Other excellent and widely available platforms for swing traders are MetaTrader 4 and MetaTrader 5.

How Much Money Do I Need To Open A Swing Trading Account?

This will depend on the brokerage, but most good swing trading brokers have a minimum investment of less than $500. Some firms even have no account minimum, such as OANDA and Webull, making them a good option for new swing traders and those with less starting capital.