Best Brokerage Firms For Day Trading

Best Brokers For Day Traders


2019 review of the best brokerage firms for day trading. Top day trading accounts for stocks, options, and futures markets.



A lot is needed to make a living out of day trading on the markets with knowledge, experience, and right trading tools being the most important factors. It is also imperative to minimize the cost of trading as it might eat out large portion of a trader profits. In an ideal world, there is a brokerage firm that offers both the lowest possible pricing and the best trading platform and research tools for active traders. Unfortunately, in the reality the best tools and the lowest costs will be in different companies.

We believe that a successful day trader needs two brokerage accounts. First account should be with a company offering very low, preferably $0 commission pricing. Second account will provide access to the best trading, research and charting tools which are usually found in the more expensive brokerage houses.

Below we list our picks for 2019 best brokers for day-trading. All of these firms are offering fast trade executions.

- WeBull for the cheapest commissions - $0.00 per trade.

- TD Ameritrade for fantastic set of trading platforms and research tools (learn more in TD Ameritrade thinkorswim review).

It takes 10 minutes to open a day-trading account at WeBull ($0 minimum opening deposit) or TD Ameritrade ($0 minimum opening deposit).


Webull
WeBull

InvestmentsCommissions
Stocks and ETFs $0
Stocks and ETFs broker assisted not offered
Listed Foreign Securities not offered
Options not offered
Mutual funds not offered
Treasury Bills, Notes, Municipal and Agency Bonds, Zeros & Strips not offered

Investments stocks, ETFs
Minimum deposit to open account $0 for cash account, $2,000 for margin account
FeesWeBull fees
Promotion WeBull promotions


With rock bottom $0.00 commission on all stock and ETF trades, WeBull is now top broker for day traders looking for the lowest pricing. They also offer some of the lowest margin rates in the industry.

WeBull's mobile app is already among the best on the market, and they have a desktop trading platform that is improving fast.


Full WeBull Review

WeBull rating

WeBull Review


WeBull Promotion Code

Get a FREE stock between $8 and $1000 when you deposit $100 at WeBull.

Open WeBull Account



TD Ameritrade
TD Ameritrade: Broker With Best Day Trader Platform

InvestmentsCommissions
Stocks and ETFs $6.95
Stocks and ETFs broker assisted $44.99
Options $6.95 + $0.75 per contract
No-load mutual funds $49.99
Treasuries at auction $25
All other bonds and CMOs, CDs on a net yield basis
Futures $2.25 per contract plus exchange & regulatory fees
Forex Non-commission currency pairs trade in increments of 10,000 units (and do not contain a "#" symbol suffix). There are no additional fees or charges.

Investments stocks, mutual funds, options, ETFs, bonds, CDs, UITs, futures, and forex
TD Ameritrade minimum deposit to open account $0 for cash account, $2,000 for margin account
FeesTD Ameritrade fees
Promotion links TD Ameritrade promotions


TD Ameritrade commissions is $6.95 per trade. But the pricing is negotiable for active traders. What we really like about the firm is TD Ameritrade's Thinkorswim trading platform, that allows trading stocks, options, forex and futures from the same place. The platform is the best in the industry for day traders, and it is free of charge. Thinkorswim provides instant trade executions, and it is a must-try for any day trader.

Because of Thinkorswim, TD Ameritrade has been rated one of the top brokers for active traders for the last few years. Read complete Thinkorswim platform review.


Detailed TD Ameritrade Review

TD Ameritrade rating

TD Ameritrade Review


TD Ameritrade Promotion Offer

Trade free for 60 days + get up to $600.

Open TD Ameritrade Account





Becoming A Daytrader: It's Simple, But It's Not Easy


When people discover that I am a professional trader, they usually want to know “what's the secret?” and they are inevitably disappointed with my answer. I always respond that there is no secret; in fact, trading is simple. Simple, but not easy.

Through discussions and interactions with other traders, I've concluded that everyone goes through a similar process on the way to becoming a person who derives their income from trading the market. Not the exact same in terms of time and effort, but the stages correspond. I'll share the steps I went through with the hope that others can recognize where they are and also see that there is light at the end of the tunnel.


Best brokerage for active traders


Nothing To It


When I first started trading, it looked as though there should be nothing to it. Price either goes up or it goes down, doesn't seem like rocket science, lets get at it. I placed a lot of trades and took a lot of risks...if a trade started to go against me, I would reverse my position. Then the price would reverse and I'd go back to my original position only to see the price reverse again. Ten days of this tail-chasing and money losing exercise was enough to convince me that perhaps there was more to this than I had first thought.


The Search


I spent the next 2 years reading countless books, visiting websites and chat rooms, purchasing systems and basically immersing myself in anything and everything market related. I toyed with every indicator under the sun, from Fibonacci lines to moving averages. I would test a system for a week and if it didn't produce results, I'd move on to the next one. I would try to pick the exact turning points in the market and would chase losing trades. Basically, I tried everything, but no one thing long enough to see if it actually worked.

After committing more time and effort than I ever thought I'd have to and blowing out 2 fully funded brokerage accounts, I was on the verge of packing it in.


Epiphany


One day I looked at the littering of notes on my desk and realized that I had tried no less than 5 different systems in the last 8 days. The proverbial light bulb came on over my head: maybe it's not the system that is making the difference. Perhaps no one and no thing can predict what the market will do in the next few seconds or the next half an hour. This revelation led me to delve in to the psychology of trading and I began to work on my own system and develop my own method of trading.

I stopped looking at results on a trade by trade basis and took a longer view, I no longer got frustrated when a trade lost, I just closed it and went on to the next one. I actually truly accepted that I could not predict the market and things began to fall into place.


Best day trader brokerage


Rolling


The next year was a slow but sure climb to the ranks of profitability. I was making trades whenever they fit my criteria. I was taking losses just as freely and easily as I was taking wins. My winning trades were finally allowed to run to their conclusion and my losers were closed quickly. I began to break even most days and most months...I was growing more confident with my system and was conscious that I was on the right path. I was still working hard and thinking through every trade and slowly I began to make more money than I would lose on a consistent basis.


Boredom


Once I saw my account growing steadily month after month, the boredom started to creep in. Trading became no longer exciting, it was just like anything else in life that a person is good at or does as a job, it gets boring. Once you have a proven method of trading that is profitable, it tends to become mundane.

I guess in conclusion, the more appropriate answer to the “what's the secret?” question is that the journey to becoming a successful trader is simple, but it's not easy.


Best Brokers For Day Trading reviewed by Brokerage-Review.com. Rating: 5