Day trading is the process of building and selling stocks within a 24 hour window. It’s a popular option for those looking to earn profit daily, and below we’ll discuss pros and cons of the web’s top platforms.
TD Ameritrade
This platform offers a $0 minimal, free tools, and no commissions. The platform is great for both beginner and senior traders as well, as there is a huge selection of online stock options and mutual funds. There’s also a great customer support system in place.
Interactive Brokers
Interactive brokers is a great platform for active users as there’s low per-share pricing and low margin rates. The platform boasts a large investment selection and over 4.300 no transaction fee mutual funds, but users cite a difficult website and inactivity fees as cons to consider.
ETRADE
ETRADE also boasts $0 commissions and is a great option for beginner users, as they have a huge library of educational resources. While the website can be difficult to get the hang of, benefits of ETRADE include a large investment selection, an advanced mobile app, and a large selection of investments to browse.
Charles Schwab
This platform is a great option for both new and advanced users, as there is high-quality research available as well as a large amount of no transaction fee mutual funds. The platform also offers commission-free stock, options and ETF trades.
Firstrade
This is the best option for users who are just starting out. Commission-free trades, free trades on all mutual funds, and a huge library of educational resources make this a great option. Better yet, the platform hosts biweekly seminars to help beginners get the ropes.
Ally Invest
This is a great platform for active traders looking for a great low cost broker. There is a $0 account minimum and 0 commissions, as well as a large library of educational resources. Cons, however, include no branches and no no-transaction-fee mutual funds.
Day trading allows you to avoid overnight risk and provide you with better leverage. Whether you’re a beginner or advanced user, one of these day trading platforms will be a great fit for you.
Skylar Hammond is a writer for True Trader who specializes in topics such as stock trading, personal finance, and forex. He focuses on helping beginners and experts alike learn more about the market and improve their trading skills.
