The range of trading accounts available to US investors somewhat differs from those available to traders based elsewhere. The growth of online investing in recent years has meant that more people are trading. But with more options to choose from, it can be tricky to discern which account is right for you.
In this guide, we break it all down. From Reg T and Portfolio Margin, to 401ks, pattern traders and retirement options, we unpack US definitions and outline what each account has to offer. We’ve also listed the best trading account providers in the US.
Top US Trading Accounts
These providers offer a range of account options to suit the different needs of US traders:
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- Demo account
- Min. deposit: $0
- Min. trade: $1
-
- Demo account
- Regulator: NFA, CFTC, CySEC
- Min. trade: 1 contract
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- Demo account
- Instruments: Stocks, Options, ETFs, Crypto
- Regulator: SEC, FINRA
eToro USA LLC and eToro USA Securities Inc.; Investing involves risk, including loss of principal; Not a recommendation -
- Demo account
- Regulator: CFTC, NFA
- Platforms: WebTrader, App
Trading in futures and options involves the risk of loss and is not suitable for everyone. -
- Demo account
- Platforms: MT4, MT5, TradeLocker
- Min. deposit: $50
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- Demo account
- Instruments: Spot, Futures, Swaps, Options, X-Perps
- Regulator: FinCEN, VARA
Learn how we test brokers and why you can trust our ratings.
This is why we think these brokers are the best in this category in 2026:
- Interactive Brokers 4.3/5 Interactive Brokers (IBKR) is a premier brokerage, providing access to over 170 markets across 40 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.
- NinjaTrader 4.5/5 NinjaTrader is a US-headquartered and regulated brokerage that specializes in futures trading. There are three pricing plans to suit different needs and budgets, as well as ultra-low margins on popular contracts. The brand's award-winning charting software and trading platform also offers a high-degree of customization and superb technical analysis features.
- eToro USA 3.4/5 eToro is a social investing platform that offers short-term and long-term trading on stocks, ETFs, options and crypto. The broker is well-known for its user-friendly community-centred platform and competitive fees. With FINRA and SIPC oversight and millions of users across the world, eToro is still one of the most respected brands in the industry. eToro securities trading is offered by eToro USA Securities, Inc.
- Plus500US 4.0/5 Plus500US is a well-established broker that entered the US market in 2021. Authorized by the CFTC and NFA, it provides futures trading on forex, indices, commodities, cryptocurrencies, and interest rates. With a 10-minute sign-up, a manageable $10 minimum deposit ($200 for wire transfer), and a straightforward web platform, Plus500 continues to strengthen its offering for traders in the US.
- Plexytrade 3.9/5 Established in 2024 and headquartered in Saint Lucia, Plexytrade is an ECN/STP broker. Geared towards active traders, it supports four account options, crypto deposits and withdrawals, plus very high leverage up to 1:2000 made possible by its unregulated status.
- OKX 4.1/5 OKX is a respected cryptocurrency firm, established in 2017, that offers a large suite of products, from trading to NFTs. Traders can access over 400 crypto tokens via OTC trading and derivatives. With an excellent web platform, developer tools and dynamic charts, OKX is a popular choice for technical traders.
Community Sentiment
See how users rate these brokers based on the average customer ratings submitted on DayTrading.com, plus ratings from Trustpilot, the Apple App Store and Google Play.
| Broker | Our Users' Rating | Trustpilot Score | Trustpilot Reviews | iOS App Rating | Android App Rating |
|---|---|---|---|---|---|
| Interactive Brokers | 5532 | ||||
| NinjaTrader | 1246 | ||||
| eToro USA | 32220 | ||||
| Plus500US | 20107 | ||||
| Plexytrade | 95 | ||||
| OKX | 1811 |
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 Account
- ✔Yes
- Instruments
- Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, Cryptocurrencies
- Regulator
- SEC, FINRA, CFTC, NFA, CIRO, FCA, CBI, ASIC, SFC, SEBI, JFSA, MAS
- Platforms
- Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower
- Minimum Deposit
- $0
- Minimum Trade
- $1
- Account Currencies
- USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF
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.
- Interactive Brokers has launched a unified interface that integrates prediction markets across three top exchanges: Kalshi, CME Group, and ForecastEx, with products where users can trade yes/no contracts on political, economic, and climate events, with fixed $1 payouts per contract, 24/6 market access, and interest on eligible held positions.
- 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.
Cons
- 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.
- TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features.
- IBKR was fined $11.8m by the US OFAC in 2025 for providing services in sanctioned jurisdictions. It was also fined $125k by FINRA in 2025 for municipal bond disclosure failures.
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.
Christian Harris, Reviewer
NinjaTrader quick facts
- Demo Account
- ✔Yes
- Instruments
- Futures, Forex, Stocks, Options, Commodities, Futures, Crypto (non-futures depend on provider)
- Regulator
- NFA, CFTC, CySEC
- Platforms
- NinjaTrader Desktop, Web & Mobile, eSignal
- Minimum Deposit
- $0 (live trades must meet intraday margin minimums, e.g., $50 to trade micro contracts)
- Minimum Trade
- 1 contract
- Account Currencies
- USD, EUR, GBP, CAD, AUD
Pros
- The market replay function is a standout feature — you can download tick-by-tick historical data, rewind to any specific date, and interact with it as if trading live, making it genuinely useful for both strategy testing and real-world practice
- NinjaTrader launched CME Group Single Stock futures in July 2026, allowing traders to express directional views in top U.S. companies like Nvidia, and Amazon without needing options
- Nano contracts — one-hundredth the size of standard contracts — allow traders to size positions with precision and manage risk at a much smaller scale, a meaningful advantage for those building positions gradually
Cons
- NinjaTrader was fined $250k in 2025 for failing to implement an adequate anti-money laundering (AML) program and for supervisory failures.
- NinjaTrader was acquired by Kraken in May 2025, and while it continues to operate independently for now, traders who value long-term stability may have reservations about how the platform's direction and pricing could shift under new ownership.
- Intraday margin requirements can spike by as much as four times in the 15 minutes leading up to major economic news releases, and may stay elevated for several minutes after volatility subsides — a detail that can catch underprepared traders off guard at exactly the wrong moment.
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
- Demo Account
- ✔Yes
- Instruments
- Stocks, Options, ETFs, Crypto
- Regulator
- SEC, FINRA
- Platforms
- eToro Trading Platform & CopyTrader
- Minimum Deposit
- $50
- Minimum Trade
- $10
- Account Currencies
- USD
Pros
- The online broker offers an intuitive social investment network with straightforward copy trading on cryptos
- A free demo account means new users and prospective day traders can try the broker risk-free
- The low minimum deposit and straightforward account opening process means beginners can get started quickly
Cons
- eToro USA was fined $1.5 million by the SEC in 2024 related to unregistered crypto offerings
- 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, options, and cryptos
Plus500US
Plus500US stands out as an excellent choice for beginners, offering a very user-friendly platform and access to the Futures Academy to enhance trading skills. Its powerful tools and reliable service helped it scoop second place in DayTrading.com's annual 'Best US Broker' award.
Michael MacKenzie, Reviewer
Plus500US quick facts
- Demo Account
- ✔Yes
- Instruments
- Futures on Cryptocurrencies, Metals, Agriculture, Forex, Interest rates, Energy, Equity Index Future Contracts, Prediction Markets
- Regulator
- CFTC, NFA
- Platforms
- WebTrader, App
- Minimum Deposit
- $10
- Minimum Trade
- Variable
- Account Currencies
- USD
Pros
- The straightforward account structure, pricing model and web platform offer an easier route into futures trading than rivals like NinjaTrader
- The Futures Academy is an excellent resource for new traders with engaging videos and easy-to-follow articles, while the unlimited demo account is great for testing strategies
- The trading app provides a terrific user experience with a modern design, a clean layout and mobile-optimized charts
Cons
- The proprietary platform is user-friendly but lacks advanced technical analysis tools found in third-party solutions like MetaTrader 4
- While Plus500US continues to broaden its investment offering, it's currently restricted to around 50+ futures with no stocks
- Although support response times were fast during tests, there is no telephone assistance
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.
Christian Harris, Reviewer
Plexytrade quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Indices, Stocks, Commodities, Crypto
- Platforms
- MT4, MT5, TradeLocker
- Minimum Deposit
- $50
- Minimum Trade
- 0.01
- Account Currencies
- USD, EUR
Pros
- Plexytrade accommodates a range of trading methods and short-term strategies, including scalping, hedging, and automated trading.
- The choice of accounts provides a solution for various trading styles, with Gold Raw appealing to day traders owing to its spreads from 0.0 pips.
- Sub 50ms execution speeds are fast enough for intraday trading setups.
Cons
- 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.
- There are no social or copy trading features for inexperienced traders to replicate the trades of more experienced investors, trailing category leaders like eToro.
- Plexytrade lacks regulation in major jurisdictions, significantly increasing the risks of opening an account and depositing funds.
OKX
OKX is a top pick for crypto traders looking for emerging coins and crypto projects to invest in. Traders can also make use of the broker's copy trading service and automated bots.
William Berg, Reviewer
OKX quick facts
- Demo Account
- ✔Yes
- Instruments
- Spot, Futures, Swaps, Options, X-Perps
- Regulator
- FinCEN, VARA
- Platforms
- AlgoTrader, Quantower
- Minimum Deposit
- 10 USDT
- Minimum Trade
- Variable
- Account Currencies
- USD, EUR, GBP, INR, JPY, SGD, RUB, AED, SAR
Pros
- In 2025, OKX secured a MiFID II license, enabling it to offer regulated derivatives products across Europe, providing peace of mind
- There's a vast developer lab plus access to a marketplace of pre-built trading bots with auto-arbitrage
- X-Perps, added in 2026, provides opportunities on traditional financial assets, including US stocks and commodities
Cons
- The quality of customer support was inconsistent based on testing
- In 2025 OKX agreed to pay over $500 million in penalties for violating AML laws in the US
- The firm offers limited regulatory oversight, though this is common among crypto exchanges
Margin Accounts
When it comes to US margin account types, traders have two options:
- Reg T
- Portfolio margin
Reg T
Regulation T, commonly known as “Reg T”, governs how much credit securities brokers and dealers can extend to their customers in the US.
The initial margin requirement for the purchase of stocks under Reg T is 50 percent, or up to 2x the equity value of the account.
This means that under Reg T, a trader must purchase at least half the securities in the account with cash while half can be purchased on margin.
For example, if a trader wants to buy 100 shares of a $50 stock ($5,000 total purchase), under Reg T they are able to buy half of that with cash ($2,500) and the other half with money borrowed from the broker ($2,500).
Importantly, margin accounts can expose traders to losses that may exceed their initial investment if positions decline sharply. Trading with leverage (successfully) requires expertise and for that reason, many brokers will require funding minimums to open and maintain a margin account. Requirements will vary by broker.
In practice, FINRA Rule 4210 sets a minimum equity requirement of $2,000 to open or maintain a margin account. And, once an account is open, brokers enforce an ongoing maintenance margin requirement of at least 25% of the account’s total equity value. Many brokers impose higher maintenance margins (30%, 40%, or more) at their discretion, depending on the volatility of the securities held.
If your account equity falls below the maintenance margin threshold, your broker will issue a margin call, requiring you to deposit additional funds or liquidate positions.
Portfolio Margin
Portfolio margin is a risk-based margin system available to qualifying US investors. To be eligible, brokers usually require at least $100,000 in account equity.
The basic standards applied by FINRA require at least $100,000 in equity to open and maintain a portfolio margin account for retail customers. Note that additional higher thresholds may apply in institutional or prime brokerage arrangements, depending on the broker’s structure and clearing relationships.
On Interactive Brokers, for example, if a US trader has at least $110,000 in account equity, they are eligible to apply for a portfolio margin account. To maintain eligibility, account equity must not drop below $100,000. Again, requirements may vary between brokers.
Portfolio margin aims to give more sophisticated traders the ability to better align margin requirements with the risk profile of the portfolio.
Typically, portfolio margin allows for a higher leverage capacity relative to traditional Reg T requirements. Portfolios that are better diversified or maintain hedged trade structures can often reduce their margin requirements to around 15 percent or potentially lower, depending on risk concentration and volatility. This means traders may have the opportunity to leverage their portfolios at 6x or more under portfolio margin, though actual leverage depends on the specific composition and stress profile of the portfolio.
Portfolio margin is based on the Options Clearing Corporation’s (OCC) TIMS methodology. This works by setting the margin requirement to the maximum loss of the portfolio when stress-testing the allocation across a host of various hypothetical moves in the underlying markets.
The market move simulated depends on the nature of the underlying instrument(s). The full list can be found on the OCC’s website.
- “High capitalization” Broad Based Indices are typically simulated over a -8 percent to +6 percent price range
- “Non-High Capitalization” Broad Based Indices are typically simulated over a -10 percent to +10 percent price range
- Sector indices are generally simulated over a -15 percent to +15 percent price range
- Individual equities are also generally simulated over a -15 percent to +15 percent price range
- Leveraged ETFs and inverse ETFs will be bucketed according to where they fall above (i.e., sector or broad based) and multiplied by their stated leverage. For example, if the ETF follows a particular sector and is leveraged 3x, then it will be simulated over a -45 percent to +45 percent price range. (And would therefore face margin requirements comparable to or higher than standard Reg T in many cases).
Once the profit and loss scenarios are taken across each group of instruments, “offsets” are then applied to determine the final margin calculation. Offsets are set by the OCC and measured based on the degree of correlation between securities.
There are more than two dozen product offset groups and each has its own offset percentage. For example, a profit in a NASDAQ ETF can help offset the loss in a S&P 500 ETF since both represent the same asset class.
Single stock positions that don’t qualify for index inclusion do not receive the benefit of any profit/loss offsets. This means a portfolio of single stock positions will generally face stress-based margin requirements that are often around 15 percent or higher, depending on concentration and volatility, rather than receiving cross-product offset relief.
After the offsets are applied, the profit and loss estimates can be determined based on each market move to set the margin requirement, which is updated dynamically in real-time.
Pattern Day Trader Account
A pattern day trader is a special FINRA designation when the following conditions are met:
- The trader executes four or more day trades (i.e. buys and sells securities intraday) within five business days
- Trades in a margin account (cash accounts are not eligible)
- Such trades are more than six percent of the customer’s overall trading activity over the measured five-day period
If a trader meets these conditions, they have to maintain an equity balance of at least $25,000 (maintaining a balance above a certain threshold is used as a proxy to denote a trader’s level of sophistication). For the official FINRA definition and current rule status, see FINRA’s day-trading rules.
The Pattern Day Trade rule is in place to discourage investors from trading too frequently. If the amount of equity in the account drops below $25,000 then the trader can no longer execute day trades until the equity balance is brought back above that level.
A pattern day trader is also eligible for up to 4x intraday buying power, compared to the standard 2x buying power provided under Reg T for overnight positions.
For example, if an investor under the Pattern Day Trade rule has an account equity value of $50,000, then they are eligible to purchase up to $200,000 worth of stock for intraday trading purposes. This is higher than the normal $100,000 that could be executed under traditional Reg T rules for overnight holdings.
If the value of these stocks increases by two percent in one day, they would be eligible to gain eight percent due to the greater margin availability (not factoring in margin costs accrued on that particular day).
Accordingly, the pattern day trader designation can be attractive for certain investors. Nonetheless, the extra leverage cuts both ways and can lead to higher potential returns but also greater potential losses.
Retirement Accounts
A retirement account often serves as part of a broader retirement plan that allows an investor to replace their employment income upon retirement.
These accounts may be set up individually or by employers, unions, the government, insurance companies, or other institutions.
To encourage responsible investing and retirement planning, some national governments have sponsored tax-deferred or tax-exempt plans that offer specific advantages depending on income and contribution type.
In the US, the most popular options include the 401(k) and Individual Retirement Account (IRA).
We’ll briefly cover the major plans below:
401(k)
The 401(k) is the most popular defined-contribution retirement plan in the US.
Retirement savings are typically contributed through payroll deductions before federal income tax is applied, making contributions tax-deferred until withdrawn after retirement. As a perk, some employers will match employee contributions up to a certain percentage.
Individuals can contribute an amount of their pre-tax earnings that’s set by the IRS and adjusted periodically according to the annual cost-of-living adjustment (COLA); in 2025 this reached $23,500.
Traditional IRA
Contributions to the traditional IRA are made with pre-tax assets and are typically tax-deductible, subject to income limits and workplace retirement plan participation rules. Transactions and earnings (i.e. dividends, interest, capital gains) within the IRA have no impact on tax outcomes.
Withdrawals upon eligible retirement age are taxed as ordinary income, with “retirement age” considered the year in which the taxpayer turns 59-1/2 (otherwise a 10 percent penalty is applied to early withdrawals, subject to IRS exceptions such as disability or certain first-time home purchases).
In the UK, the Individual Savings Account (ISA) is is a broadly similar tax‑advantaged savings wrapper, but it works more like a Roth IRA (post‑tax contributions, tax‑free withdrawals) than a traditional IRA.
Roth IRA
Contributions are made with after-tax assets. Withdrawals are normally tax-free, provided holding period and age requirements are satisfied. Limits are adjusted annually by the IRS for inflation.
Individuals who make beyond a certain amount of money per year are not eligible to contribute to a Roth IRA. For 2025, full Roth IRA contributions were allowed below $150,000 of MAGI for single filers and $236,000 for joint filers; above these levels, contributions were phased out and then disallowed at higher incomes. These thresholds are adjusted over time, so check current IRS guidance.
SEP IRA
SEP IRAs are used by business owners to offer retirement benefits to themselves and their employees. They are commonly used by self-employed individuals with no employees as the administration costs are minimal.
For any business owner with employees, each individual employee must receive the same benefits as directed under the SEP plan.
SEP accounts are treated the same as IRAs, and therefore funds can be invested the same way as for an IRA. They allow for retirement contributions made in an employee’s name rather than the extra administration involved in setting up a pension fund in the company’s name.
SIMPLE IRA
The Savings Incentive Match Plan for Employees, or SIMPLE IRA, is used by small businesses with 100 or fewer employees.
This plan allows both employer and employee contributions, but it has lower contribution limits than a 401(k). The perk is that it’s easier and less expensive to administer than a traditional 401(k), which makes it popular among small employers.
Defined Benefit Plan
A defined benefit plan is less common for retail investors, but it’s relevant for high-earning self-employed individuals. A defined benefit plan’s contributions are based on an actuarial calculation tied to projected retirement benefits. Higher-income professionals often use a defined benefit plan in conjunction with a Solo 401(k).
Health Savings Account (HSA)
An HSA is technically not a retirement account, but it’s frequently used as one. More than 20% of Americans are now covered by an HSA.
An HSA is growing in popularity because it offers triple tax advantages:
- tax-deductible contributions
- tax-free growth, and
- tax-free withdrawals for qualified medical expenses
After age 65, withdrawals for non-medical purposes are taxed like a traditional IRA. Many investors treat it as a supplemental retirement vehicle.
Other popular account types in the US include:
- Roth 401(k) – Introduced in 2006, the Roth 401(k) is basically a 401(k) with the tax features of a Roth IRA
- Solo 401(k) – Also known as an Individual 401(k), this plan is designed for self-employed individuals or business owners with no employees other than a spouse.
- 403(b) – A 403(b) is similar to the 401(k), but is reserved for certain entities, such as religious institutions and non-profit workers
- 401(a) And 457 Plans – Applies to employees of state and local governments and certain tax-exempt organizations (i.e., non-profits)
- Keogh Plan – Also known as the HR10, this provides a pension plan for self-employed individuals
- 529 Savings Plan – A tax-advantaged savings vehicle designed to save for future educational costs
- Custodial IRA (UGMA/UTMA-linked IRAs) – For minors with earned income, a custodial IRA allows retirement investing at a very early age. Still niche but increasingly discussed in US financial planning.
Final Word
Trading accounts in the US are heavily regulated and differ from those available in other major investing hubs. Ultimately, which account is best for you will depend on your available capital and objectives, for example, long-term investing for retirement versus short-term, day trading.
Use our guide to find the right account type for your needs and see our list of top trading accounts to get started.
FAQs
Why Are Account Types Different In The US?
US trading is authorized and regulated by the Securities and Exchange Commission (SEC). The body exerts influence over what is made available as well as the terms and conditions of the proposition. Their jurisdiction covers the US only. Other countries have their own regulatory bodies whose influence differs.
Is A 401k A Retirement Account?
Yes, a 401k is the most popular defined contribution pension account available today in the US.
How Much Leverage Can I Get With A Portfolio Margin?
Portfolio margin, leverage of 1:6 or more is available. While margin requirements of Regulation T are generally limited on equity to 1:2.