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Jemma Grist
Written By
Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
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Edited By
James Barra
Edited 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.
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Fact Checked By
Michael MacKenzie
Fact Checked 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
Apr 11, 2024
The best day trading platforms in the US cater to active short-term traders, offering margin trading on key markets like the Nasdaq and EUR/USD. The top brokers are also regulated by theCFTC, NFA or FINRA, provide accounts in US Dollars for convenient deposits, and offer fast execution.
Explore the best day trading platforms in the US, chosen after hands-on testing and in-depth analysis. All recommended brokers welcome US day traders and have our experts’ confidence.
Top 5 Platforms For Day Trading In The US
After exhaustively evaluating nearly 500 online brokers, these 5 platforms continue to stand out as the best for day traders in the United States:
- FOREX.com - FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools.
- 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.
- OANDA US - 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.
- IG - IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders.
- Plus500 US - Plus500 US stands out as an excellent choice for beginners, offering a very user-friendly platform, low day trading margins, and access to the Futures Academy to enhance trading skills.
Best Day Trading Platforms and Brokers in the US 2024 Comparison
| Broker | US Regulated | USD Account | Minimum Deposit | Markets | Platforms | Leverage | Visit |
|---|---|---|---|---|---|---|---|
| | ✔ | ✔ | $100 | Forex, Spot Metals | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral | 1:50 | Visit |
| | ✔ | ✔ | $0 | Forex, Stocks, Options, Commodities, Futures, Crypto | NinjaTrader Desktop, Web & Mobile, eSignal | 1:50 | Visit |
| | ✔ | ✔ | $0 | Forex, Crypto | OANDA Trade, MT4, TradingView, AutoChartist | 1:50 | Visit |
| | ✔ | ✔ | $0 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting | Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral | 1:30 (Retail), 1:250 (Pro) | Visit |
| | ✔ | ✔ | $100 | Futures on Forex, Commodities, Cryptos, Indices, Interest Rates | WebTrader, App | - | Visit |
#1 - FOREX.com
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Why We Chose FOREX.com
Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
- Instruments: Forex, Spot Metals
- Regulator: NFA, CFTC
- Platforms: MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
- Minimum Deposit: $100
- Minimum Trade: 0.01 Lots
- Leverage: 1:50
Pros
- Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
- FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
- The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
Cons
- Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
- FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
- There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.
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#2 - NinjaTrader
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Why We Chose NinjaTrader
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.
- Instruments: Forex, Stocks, Options, Commodities, Futures, Crypto
- Regulator: NFA, CFTC
- Platforms: NinjaTrader Desktop, Web & Mobile, eSignal
- Minimum Deposit: $0
- Minimum Trade: 0.01 Lots
- Leverage: 1:50
Pros
- You can get thousands of add-ons and applications from developers in 150+ countries
- NinjaTrader continues to deliver comprehensive charting software for active day traders with bespoke technical indicators and widgets
- NinjaTrader is a widely respected and award-winning futures broker and is heavily authorized by the NFA and CFTC
Cons
- Non forex and futures trading requires signing up with partner brokers
- The premium platform tools come with an extra charge
- There is a withdrawal fee on some funding methods
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#3 - OANDA US
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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.
- Instruments: Forex, Crypto
- Regulator: NFA, CFTC
- Platforms: OANDA Trade, MT4, TradingView, AutoChartist
- Minimum Deposit: $0
- Minimum Trade: 0.01 Lots
- Leverage: 1:50
Pros
- Seasoned day traders can access industry-leading tools, including an MT4 premium upgrade and advanced charting provided by MotiveWave
- There's a strong selection of 68 currency pairs for dedicated short-term forex traders
- 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
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#4 - IG
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Why We Chose IG
Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
- Regulator: FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA
- Platforms: Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral
- Minimum Deposit: $0
- Minimum Trade: 0.01 Lots
- Leverage: 1:30 (Retail), 1:250 (Pro)
Pros
- IG offers an extensive collection of professional and engaging educational resources, including webinars, articles, and analysis
- The IG app offers a superb mobile trading experience with a clean design that helped it secure Runner Up at our Best Trading App award
- IG is amongst the best in terms of its range of instruments, which includes stocks, forex, indices, commodities, and cryptocurrencies, providing ample diversification opportunities
Cons
- While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients
- IG has discontinued its swap-free account, reducing its appeal to Islamic traders
- IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors
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#5 - Plus500 US
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Why We Chose Plus500 US
Plus500 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 $100 minimum deposit, and a straightforward web platform, Plus500 continues to strengthen its offering for traders in the US.
- Instruments: Futures on Forex, Commodities, Cryptos, Indices, Interest Rates
- Regulator: CFTC, NFA
- Platforms: WebTrader, App
- Minimum Deposit: $100
- Minimum Trade: 0.0 Lots
Pros
- Plus500 US excels for its low fees with very competitive day trading margins and no inactivity fees, live data fees, routing fees, or platform fees
- Plus500 is a publicly traded company with a good reputation, over 24 million traders, and a sponsor of the Chicago Bulls, instilling a sense of trust
- The straightforward account structure, pricing model and web platform offer an easier route into futures trading than rivals like NinjaTrader
Cons
- While Plus500 US continues to broaden its investment offering, it's currently restricted to around 50+ futures with no stocks
- The proprietary platform is user-friendly but lacks advanced technical analysis tools found in third-party solutions like MetaTrader 4
- Plus500 US does not offer social trading capabilities, a feature available at alternatives like eToro US which could strengthen its offering for aspiring traders
Visit Plus500 US
Choosing A Day Trading Platform In The US
There are several key factors to consider when deciding which platform to use for day trading:
Choose A Trusted Broker
We only recommend US day trading brokers we’ve personally tested after weighing their regulatory credentials with their industry standing.
Several ‘Green-Tier’ regulators oversee day trading activities in the US:
- Securities and Exchange Commission (SEC): Responsible for regulating the securities industry, notably stocks and options exchanges.
- Commodity Futures Trading Commission (CFTC): Responsible for regulating derivatives and commodities trading.
- National Futures Association (NFA): Responsible for regulating derivatives trading, working alongside the CFTC as a self-regulatory organization.
- Financial Industry Regulatory Authority (FINRA): Responsible for overseeing brokerage firms, working under the SEC as a non-governmental organization. Its Pattern Day Trader (PDT) rule mandates traders with 4+ day trades in 5 days to keep a minimum of $25,000 in their accounts, and it limits day traders to borrowing up to 50% of the purchase price of securities.
Regulators also enforce strict rules to help combat trading scams, which have targeted US traders in recent years. In 2022 for example, two American nationals, Patrick Gallagher and Michael Dion, used a fake investment firm, Global Forex Management, to steal $30 million in investor deposits.
I recommend checking any broker you plan on day trading with is regulated in the US. You can do this by using FINRA’s BrokerCheck, which provides details on a company’s history and any disputes.
Jemma Grist
Author
- IG scooped our vote as the most trusted broker. It’s authorized by 13 regulators including the CFTC in the US, boasts a 50+ year industry, and our experts have traded at IG with real money and reported a stellar day trading environment with no withdrawal issues.
Choose A Broker With Wide Market Coverage
The best platforms provide access to a wide range of financial markets, catering to diverse day trading strategies.
We’ve used the platforms of every broker we’ve recommended and countless more, to make sure they offer trading on popular markets in the US, as well as opportunities in global financial markets.
American traders can speculate on forex with many currency pairs containing a US Dollar component, as well as stocks listed on key stock exchanges like the New York Stock Exchange and Nasdaq.
Additionally, many top platforms offer short-term trading on popular commodities like oil and natural gas through futures and options.
In January 2024, the SEC also approved the launch of new spot Bitcoin ETFs for US traders, including the iShares Bitcoin Trust, enabling investors to speculate on current prices without having to buy BTC.
Unlike many countries, CFD day trading is not permitted in the US. These popular short-term trading vehicles are over-the-counter products that are restricted under US securities laws.
Jemma Grist
Author
- Interactive Brokers has spent years adding to its suite of instruments, now offering a fantastic selection of products for active traders spanning 15 markets, 24 countries and 27 currencies, including stocks, ETFs, futures, futures options, fixed income, mutual funds, cryptocurrencies, indices and warrants.
Margin Requirements
Margin trading is a pivotal tool for many day traders, providing leverage needed to amplify returns on short-term price movements.
Essentially, by borrowing funds from a broker to purchase US securities, you can control larger positions than what your capital alone would allow, multiplying potential profits (and losses).
In the US, the FINRA sets the rules for margin trading, requiring traders to maintain a minimum margin of 25% of the total market value of the securities in their account. Additionally, the initial margin requirement to enter a position is 50%.
Importantly, traders face interest charges on borrowed funds, and these rates can vary between day trading brokers in the US. As part of our exhaustive testing process, we anaylze intraday margin rates and factor these into our ‘Fees & Costs’ rating.
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Risk management is a must when day trading on margin, helping to limit losses through tools like stop-loss orders and diversification.
- NinjaTrader stands out for its transparent margin requirements on all its markets and contracts, which start at $50 for intraday Micro contracts, including the Micro E-Mini S&P 500, and $500 for popular futures contracts like the US Dollar Index.
Choose A Broker With Low Fees
We only recommend brokers with competitive pricing for active day traders, for whom a large volume of trades can lead to mounting fees.
To identify low-cost day trading brokers in the US, we evaluate spreads and commissions on popular assets during the most active times of day, for example, USD currency pairs like the EUR/USD and GBP/USD, and indices like the and Dow Jones.
We then balance the trading fees with the quality of the overall day trading environment. For example, it may be worth paying more for tools that provide insights into events that could impact US financial markets such as interest rate decisions from the Federal Reserve Board andyields on bills auctioned by the Department of Treasury.
- FOREX.com offers a cost-effective RAW account for serious day traders, with spreads from 0.0 and a $7 commission per $100K on forex and zero commissions on stocks, options and mutual funds. Its Active Trader program can further cut costs by 15%. The platform also provides excellent tools, including a user-friendly financial calendar that you can filter by the US, event type, and volatility, helping to identify short-term trading opportunities.
Choose A Broker With Terrific Charting Tools
The top US brokers stand out by providing intuitive platforms with excellent charting tools that are often employed by short-term traders.
Our experts have spent hundreds of hours testing dozens of charting platforms and day trading apps, balancing ease of use with the range of charting styles, timeframes, indicators and algo trading features.
MetaTrader 4 and MetaTrader 5 remain the most popular third-party day trading platforms, especially among seasoned traders. However, they face increasing competition from the likes of TradingView, which sports a more intuitive interface in our view, lending it to beginners.
Since many US brokerages are focused on securities, specialized terminals are also often available, notably Charles Schwab’s thinkorswim.
Alternatively, brokers like Plus500 have invested heavily in building their own software in recent years, though it still lacks the customization capabilities and account analytics available on leading third-party solutions, despite a slick design that we really enjoy.
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Demo accounts are the best way to explore platforms and apps before investing real money. You can place paper day trades on US securities while getting familiar with platform features.
- IG’s almost unmatched selection of platforms and apps cater to all types of day traders and strategies. Alongside the broker’s proprietary platform and MT4, active traders can use the advanced ProRealTime, which delivers over 100 technical indicators for short-term analysis.
Choose A Broker With Reliable Order Execution
Efficient order execution is crucial, especially for day traders speculating on volatile US stocks like Beneficient (NASDAQ: BENF) and Etao International Co., Ltd (NASDAQ: ETAO), where minor price discrepancies can affect profits.
Let’s say I plan to buy 500 shares of ETAO at $5.00, targeting a quick profit by selling at $5.10. However, slow execution resulted in a buy price of $5.05, and I ended up selling at $5.10.Instead of the $50 profit I anticipated, I only made $25 in profit.
Jemma Grist
Author
That’s why we analyze order execution policies and data where possible, with our experts deeming <100 milliseconds ‘fast’ for day traders. This will help ensure low latency – the least possible downtime between order placement and fulfilment.
- OANDA continues to stand out with excellent execution speeds as low as 12 milliseconds on popular markets like EUR/USD. US clients can also request regular trade execution reports, as per the NFA’s transparency requirements.
Methodology
To find the best day trading platforms in the US, we took our vast database of brokers and filtered them on those accepting investors from the United States. We then ranked them on their overall rating which draws on over 200 data points and criteria, notably:
- Whether they are trusted and regulated by the SEC, CFTC, FINRA or another reputable agency.
- Whether they offer short-term trading on a range ofmarkets, notably US equities and currencies.
- Whether they offer transparent intraday margin requirementsfor trading with leverage.
- Whether they offer low day trading fees, focusing on key markets like EUR/USD and US stocks.
- Whether they deliver intuitive charting platforms and day trading apps following tests.
- Whether they offer fast and reliable order execution for active trading strategies.
FAQ
Which Is The Best Day Trading Platform In The US?
Use our list of the top day trading brokers in the US to find a suitable platform for your requirements.
All our recommended brokers have been tested by our industry experts, though the choice of day trading platform is ultimately a personal decision.
Who Regulates Day Trading Brokers And Platforms In The US?
Several regulators oversee day trading platforms and activities in the US, including the SEC, CFTC, NFA and FINRA. These authorities often coordinate efforts to combat scams, penalize misconduct, and provide investor protection for day traders.
That said, day trading is inherently risky with many active investors losing money. You can also lose more than your deposit as negative balance protection is not provided as standard in the US, despite it being a requirement in other heavily regulated jurisdictions, notably the UK and Australia.
How Much Money Do I Need To Start Day Trading In The US?
Based on our database of close to 500 day trading brokers, US investors will often need between $0 and $250 to open an account.
That said, some day trading platforms stand out with no minimum, catering to budget investors. The highest-rated are Interactive Brokers and OANDA.
Most US day trading platforms support deposits in debit card, wire transfer and ACH transfer.
Recommended Reading
Article Sources
- Securities and Exchange Commission (SEC)
- Commodity Futures Trading Commission (CFTC)
- National Futures Association (NFA)
- Financial Industry Regulatory Authority (FINRA)
- Pattern Day Trading Rule - FINRA
- BrokerCheck - FINRA
- Nasdaq Stock Exchange
- Beneficient (NASDAQ: BENF)
- Etao International Co., Ltd (NASDAQ: ETAO)
- New York Stock Exchange
- SIPC Investor Protection
- US Trading Scam - Finance Magnates
- Federal Reserve Board
- Department of Treasury
The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com
