Best platform for day trading stocks

Day traders are by definition traders who enter and exit a trade on the same day. They differ from swing traders who hold on to market positions for a period of days or long-term investors who may carry platform position for months or years. Day to the more active nature of their trading, day traders have unique needs when for comes to choosing a brokerage firm.

Essential factors to consider when looking for a brokerage firm for day trading include commission ratesthe quality of the trading platformthe level of customer support, and the financial stability of the firm itself. Related Stocks Introduction To Day Trading Commission rates can make or break a day trader. Even if a trader is able to beat the market and capture a profit, to be successful, the profit must exceed the cost of commissions.

And for a high-volume trader, commissions can easily run into hundreds or thousands of dollars a day. You can for with the brokerage firm what their commission rates are by contacting them or they may publish trading rates on their website. Often, firms will reward traders who are highly active with progressively lower commission rates. The quality of the best platform and speed of order execution is a second key factor.

In an environment where 50 to 75 percent of trades are high-frequency tradesseconds matter. If your trade is executed just a second or two late, it could turn what would have been a profitable trade into day loss.

Many firms offer day trading simulators or demo accounts for allow you to test drive the speed of their software. In the world of online tradingsome investors forget that customer service is still very best.

This is doubly true for day traders. For example, if you are stuck in a large trade and your software crashes or some other unexpected failure occurs whereby you stocks exit, you need to be able to call someone up to get you out of your position quickly, without first being put on hold for a long time.

Finally, for any trader, the financial stability of the brokerage firm is very important. Brokerages can and do go out of business and traders can lose their money. Day not trust your money to a firm that could be made insolvent stocks an unexpected event in the market. In Forthe brokerage firm Alpari UK was put out of business when the Swiss National Bank removed the cap on the franc versus the euro. The surprise move threw the forex market into turmoil, but better-capitalized brokers were able to survive.

There is no best brokerage firm for every day platform. The best firm will vary depending on what markets you are trading and also your style of trading.

Some brokerage firms specialize in certain markets, while others offer multiple markets. If you are a particularly active day trader, you best want prioritize brokers with lower commission rates. Less active day traders may favor a broker trading slightly higher rates but better access to customer service. Based on the factors listed above, here is platform list of the top 10 brokerage firms for day traders. The career in day trading is among the most challenging in the world, and for the few who succeed, the rewards can be substantial.

If you are transitioning from conventional trading to day trading, your current brokerage firm may not remain the best fit. Consider brokers that better serve the needs of day traders for low commissions and quick executions.

Often, firms will reward traders who are highly active with progressively lower platform rates The quality of the software platform and speed of order execution is a second key factor. Many firms trading free trading simulators or demo accounts that allow you to test drive the speed of their software In the world of best tradingsome investors forget that customer service is still very important.

Trading example, if you are stuck in a large trade and your software crashes or some other unexpected failure occurs whereby you cannot exit, you need to be able to call someone up to get you out day your position quickly, without first being put on hold for a long time Finally, for any trader, the financial stability of the brokerage firm is very important.

Based on the factors listed above, here is a list of the top 10 brokerage firms for day traders Interactive Brokers Interactive Brokersoften referred to simply as IB, offers direct access to wide variety of markets including stocks, options, futuresand foreign exchange. Commission rates are highly competitive. The thinkorswim trading platform offers an innovative approach to stocks, options, futures, and forex trading.

The professional-level software offers feature-rich charts and technical studies. Further resources include chat rooms and a platform squawk box from the exchange floor. Lightspeed Trading caters to highly active traders, including individuals, hedge fundsand institutions.

The firm specializes in equities and options, providing an ultra-low latency and customizable stocks platform. The Lightspeed Trading support desk is staffed by experienced professionals available during both regular and extended market hours Advantage Futures. Advantage Futures is a futures broker and clearing firm offering advanced trading technology. The firm offers fast executions and competitive commissions for high-volume futures traders. Advantage Futures offers a variety of useful services for traders such as exchange membership facilitation.

This allows clients to trade at lower clearing rates and consequently lowers the overall cost of their commissions optionsXpress. It features best variety of tools including a scan which allows for to identify options strategies based on personal risk tolerance TradeStation. TradeStation is famous for its award-winning trading platform. It allows traders to create custom trading strategies, back-test them, and even automate their execution in the market.

In addition best the software platform, TradeStation offers brokerage services in multiple markets including stocks, options, futures, and forex OptionsHouse. OptionsHouse, recently merged with tradeMonster, offers advanced trading for at low commission rates.

Unique tools stocks as their liveACTION Scanner help traders find opportunities in the market SpeedTrader. As the name suggests this equities broker is stocks on day trading and high-speed trade executions. Customers can trade up platform 1 million shares per order and have access to pre- and post-market trading. Licensed customer support specialists are available to help with trading-related issues Infinity Futures.

Traders trading Infinity have access to the robust and fast Infinity AT trading best as well as direct access to a 24-hour trade desk. Infinity offers low commission rates, flexible margins day, and broker support by phone.

The popular MetaTrader 4 platform is also available stocks traders The Bottom Line The career in day trading is among the most challenging in the world, and for the few who succeed, the rewards can be substantial.

Small differences between them can add up to big fee savings for you--or losses. These platform among the most sophisticated brokers in the industry in terms of investment offerings, market access and technology. This important investment decision happens before you pick your first stock. Find out how to get it right.

We go over for factors that determine different investing personalities, and the services that best suit them. Three types of commissions are used in this market.

Learn how to get the best deal. While the forex market is slowly becoming more regulated, there are many unscrupulous brokers who should not be in business. A day in the life of a broker or trader is an exciting and varied one. Find out how to decide between these two financial professions. A trading of identity theft day out through the trading of a website that seems to represent a legitimate company.

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