What are the best day trading brokers?？ (2024)

Day trading is one of the most popular strategies for retail traders。Day traders buy and sell by observing price movements over a short period of time with the aim of making a net profit at the end of the day。Fast entry, fast exit。

Choosing the best broker for day trading is a challenge, as day traders often need fast, reliable trading platforms and low transaction costs。A typical trading platform that provides technical data and charting tools is not enough, as highly active traders will also compare the execution speed and accuracy of different brokers。

It is also important for day traders to consider factors such as spreads, commissions and other fees。The dilemma is that the lowest cost broker may not offer the best trading platform and vice versa。

IC Markets

The Australia-based online broker offers CFD trading in foreign exchange, stock indices, commodities, bonds and stock markets with a minimum deposit of $200。IC Markets "trading servers are located in the Equinix NY4 data center in New York, enabling it to deliver an average execution speed of approximately 35 milliseconds for currency pair transactions.。

There are two types of accounts to choose from: original spread accounts and standard accounts。The original spread account is best for day traders as it offers very low spreads with a commission of $7 per standard lot。If you wish to pay a lower commission, you can also choose a standard account。

To summarize:

• Minimum deposit: $200 Execution speed: 0.035 seconds Trading platform: MetaTrader4, MetaTrader5, cTrader, mobile app Spread: EUR EUR / USD USD Average spread 0.1 point (original spread account) commission: $7 per standard lot (original spread account)

IC Markets is a private company in International Capital Markets Pty Ltd..) an online forex brokerage company operated under。Traders under Australian jurisdiction offer trading services at IC Markets-AU, which is based in Australia and licensed by the Australian Securities and Investments Commission (ASIC).。

On the other hand, non-Australian traders who open accounts with the broker are registered under the Seychelles-based IC Markets SEY and are regulated by the Seychelles Financial Services Authority (SFSA).。This dual operation is the result of the Australian Securities and Investments Commission's relatively new rules, which prohibit its regulated brokers from providing trading services outside Australia.。

IC Markets is classified as an ECN broker offering clients MetaTrader 4, MetaTrader 5 and cTrader as platform trading options。The broker also follows market trends with cryptocurrencies as one of its products, enriching its already wide selection of trading assets, including currencies, indices, metals, energy, software, stocks and bonds.。

IC Markets "minimum deposits are at a moderate level compared to other ASIC-regulated brokers, as each customer has a deposit of $200.。Market analysis materials are also regularly prepared for trading insights on the official website of IC Markets, proving their ability to provide traders with important content created specifically for the market experts they work for.。

For payment methods, IC Markets allows financing and withdrawals via wire transfers, credit cards, PayPal, Skrill, Neteller, FasaPay, UnionPay, and BitPay's Bitcoin。The more interesting aspect of the broker is its multiple base currencies, including the US dollar, Australian dollar, euro, British pound, Singapore dollar, New Zealand dollar, Japanese yen, Swiss franc, Hong Kong dollar and Canadian dollar。

Due to the trading technology of IC Markets equipped with highly centralized servers and extremely low latency (especially on cTrader), the broker is well known for its ability to host traders with special needs for high-frequency trading and order brushing。

In summary, IC Markets is the right destination for active traders looking for well-regulated brokers。IC Markets is also flexible in terms of base currency and payment methods, which demonstrates their commitment to welcoming traders from outside their home countries.。By the end of 2019, IC Markets was offering websites in 18 international languages, including English, Korean, Indonesian, French, Spanish, Italian, Malay, German and Chinese.。

OANDA

The U.S.-based broker has more than 23 years of experience in providing multi-asset trading services to retail and institutional traders.。No minimum deposit required, so you can start trading at any time。

There are three ways to trade with OANDA: through MetaTrader4 or its customizable web and desktop trading platform。OANDA's Proprietary Platform Named Best Retail Forex Platform in the World 2018。OANDA is designed for reliability and speed, and the transaction execution time is only 0.012 seconds。The only downside may be the relatively high transaction costs。

To summarize:

• Minimum deposit: $0 Execution speed: 0.012 seconds trading platform: MetaTrader4, OANDA fxTrade network platform, OANDA desktop platform, mobile application spread: EUR / USD USD 0.1 point commission: $40 per million dollars

OANDA can be an option for traders looking for a precision broker。This is because OANDA is a broker that offers 5-digit accuracy quotes and active price movements that follow market developments.。The broker's orders are also executed faster。

It provides benefits for novice traders because they can use a calculation system based on currency value for smaller trading volumes, which is different from other brokers that use lot systems。

OANDA was founded in 1996 by Dr. Michael Stumm, Lecturer in Computer Engineering at the University of Toronto, Canada, and colleagues at The Olsen Ltd, one of the leading econometric research institutes..Dr. Richard Olsen co-founded the institution。Their headquarters are located in San Francisco, USA。

OANDA Branches Everywhere。Some of these offices are located in the UK, Singapore, Japan and Canada。With the distribution of the number of offices, OANDA increasingly attracts the attention of global customers。

OANDA's companies are registered in several well-known jurisdictions in the field of financial transactions。They are regulated by the US CFTC and NFA, UK FCA, Australian ASIC and others。Traders no longer need to worry about security when trading OANDA。However, these advantages make OANDA's trading rules more stringent than other brokers。

For example, OANDA only allows a maximum leverage of 1: 20 because the rules in the United States and Japan do not allow higher than that leverage。In addition, the registration process is more complicated due to various additional requirements that other forex brokers do not submit。Most importantly, hedging is not allowed in one trading account, as the client must open another account to hedge。

Nevertheless, OANDA is known as a leading broker and offers many advantages。OANDA faces greater market risk during periods of price volatility, such as economic and political news announcements。When market spreads increase or decrease, their pricing engine expands or narrows spreads accordingly。In this way, traders can be more quickly updated on market price movements。

Prices in the market move very quickly, especially when news releases have a large impact on market volatility。Brokers often exploit this situation to take advantage of clients by re-quoting。However, traders do not need to worry about additional fees when trading with OANDA。

Firms never withdraw re-quotes, so traders get maximum profit。When traders cannot monitor open positions, they can set take profit orders to lock in profits and stop loss orders to help prevent further losses。

As an experienced and well-known online forex broker, OANDA is committed to maintaining an efficient trading environment, reducing delays and providing tools to help clients manage acceptable levels of slippage.。

With OANDA's fast and reliable trading platform, customers can trade at 0.Execute within 012 seconds。This is suitable for traders who choose a broker based on execution speed。

Due to this outstanding executive service, it is no surprise that Oanda has won many awards, including the world's best retail forex platform award in the prestigious e-FX awards.。The broker was also rated number one for consistency in executing trades on quote, execution speed and platform reliability.。

There is no minimum deposit or minimum balance requirement to open an OANDA account, both deposits and withdrawals can be done easily。OANDA offers multiple payment method facilities including Paypal, wire transfer, credit and debit cards。Traders can adjust according to the region they live in。

OANDA offers more than 100 trading instruments, including 71 currency pairs, 16 indices, 8 commodities (Brent, copper, corn, natural gas, soybeans, sugar, etc.), 6 bonds and 23 metals.。

fxTrade and MetaTrader platforms available on OANDA。These platforms are available for desktop and mobile devices。Another advantage is that they have OANDA technical analysis in cooperation with Autochartist technical analysis provider。

With these platforms, customers can more easily monitor price movements and automatically identify patterns created on charts and receive alerts when waiting patterns appear。The technology can be used for free。

In summary, OANDA is the ideal broker for traders who need fast execution backed by years of experience.。The firm is also a good choice for those looking for a broker with good regulation and flexible trading and deposit conditions。

Interactive Brokers

Interactive Brokers (also known as IBKR) is the most popular day trading broker in the United States.。According to careful traders, the average trade execution speed is about 250 milliseconds, but IBKR is always one of the best brokers for order execution quality.。

IBKR's proprietary platform provides flexible tools and highly customized functions for foreign exchange, futures, bonds, options, stocks, etc.。Its complex structure may be more suitable for professional traders than beginners, but for day traders, this is just right。

To summarize:

• Minimum deposit: $0 (a monthly activity fee is required to liquidate accounts with a net liquidation value of less than $100,000) Execution speed: 0.25 seconds trading platform: ibkr pro, ibkr lite Spread: EUR EUR / USD USD 0.1 point commission: variable commission, minimum $2 per order ($4 per round), for very active traders, commission can be reduced to 0.08 basis points

IBKR is a direct market access broker offering execution, clearing, settlement and prime brokerage services to clients。Since Thomas Peterffy was founded 41 years ago, the company has grown internally to become one of the leading securities firms with more than $7 billion in equity.。

IBKR was initially recognised as a popular broker for senior traders and launched a second tier service called IBKR Lite for more casual investors in 2019.。

IBKR Lite serves more than 125 market destinations worldwide and provides direct access (online) to trade execution and clearing services for institutional and professional traders, including equities, options, futures, forex, fixed income and funds.。

Headquartered in Greenwich, Connecticut, IBKR employs more than 1,400 people at companies in the United States, Switzerland, Canada, Hong Kong, the United Kingdom, Australia, Hungary, Russia, Japan, India, China, and Estonia; IBKR is regulated by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the Financial Conduct Authority (FCA), and is registered with the New York Stock Exchange (NYSE)。

IBKR offers a wide range of product-centric tools, such as Options Traders and Probability Labs for simplifying unilateral and complex multilateral options trading, FXTrader for forex trading, Mutual Fund / ETF Replicators for helping traders find lower-cost ETF alternatives, and Fixed Income Filters for corporate and institutional bonds。Overall, IBKR's trading will receive the most useful and updated tools to maximize trading and investment objectives.。

As a popular and regulated broker in the US, IBKR has won some awards。Recently, they were named the Best Online Broker of 2019 by Barron's Weekly, categorised as the best broker for mobile, international and frequent traders.。In addition, they received the Best Performing Broker Award from the Preqin Service Provider and the Best Holistic Broker Award from Investopedia (Best Low Cost, Best International Trade, Best Options Trade, Best Day Trade and Best Penny Stock).。Since 2005, IBKR has won many awards for the best service it provides to its customers。

In order to optimize the trading speed and efficiency of customers, IBKR provides a number of powerful trading platform suites, as follows:

Customer Portal One-stop destination for checking quotes and making trades, viewing account balances, profit and loss, as well as key performance indicators, funds and reports。The desktop trading platform is a flagship platform designed for active traders and investors who trade multiple products and need power and flexibility。Opening an account at IBKR and using the platform, traders can take advantage of state-of-the-art algorithms and trading tools, as well as a library of tools and asset-based trading layouts for optimal customization。Mobile IBKR TWS Mobile IBKR TWS is designed for traders who want to easily trade and monitor their IBKR accounts from an iOS or Android device (tablet or smartphone)。IBoT IBoT is a robot that finds information and places orders in the customer's own words, available on desktop TWS, mobile IBKR and client。IBKR WebTrader is designed for traders and investors who like a simplified interface。IBKR API or IBKR Pro This trading platform is designed for traders and investors who want to write trading software or automated trading programs。Overall, IBKR has been a good choice for those looking for a reliable and regulated broker to trade with.。IBKR provides a large number of trading platforms, dedicated to providing the best service for novices and professionals, suitable for each customer's needs。

Exness

The Cyprus-based forex broker has been providing reliable multi-asset trading services to global traders since 2008, with lower spreads and easier registration.。The minimum deposit amount varies depending on the payment system you choose to sign up for, starting from $10 for standard accounts and $200 for professional accounts。

Zero spread accounts and raw spread accounts may be more suitable for day traders, with spreads from 0.From 0 o'clock。Commissions vary by trading instrument, with one-way commissions for zero spread accounts from 0.From $2 / hand, the original spread account has a one-way commission of up to 3.$5 / hand。

To summarize:

• Minimum deposit: $10 (standard account) or $200 (professional account) Execution speed: 0.1 second trading platform: MetaTrader4, MetaTrader5, mobile app Spread: EUR EUR / USD USD 0.0 points commission: one-way 0.$2 / lot (zero spread account) or one-way 3.$5 / lot (original spread account)

The choice of broker is adjusted according to the needs of each trader. If you only need the basic platform and trading functions with the best attributes, then Exness may be your best choice。

Exness with its 0 only.Advantages such as the low spread from 1 o'clock make up for the lack of changes in its functions, which is very suitable for traders using scalping strategies (Scalper)。Spreads for major currency pairs in some account types can also be as low as 0.0 point, depending on market conditions。

Not only that, traders can also enjoy other advantages such as automatic withdrawals。Exness will process most customer withdrawals immediately without manual inspection; however, depending on the payment provider or method selected, withdrawals may be restricted。

Exness is one of the STP / ECN brokers in Europe, and the safety of traders' funds is also guaranteed。Exness became the official partner of Real Madrid football team for 3 years from July 2017, which also proves that the company has a high degree of stability.。

Exness supports deposits and withdrawals 24 hours a day, 7 days a week。However, it should be noted that the Company does not assume any responsibility if there is a problem with the deposit or withdrawal due to the payment system.。

Traders don't need to worry about transaction fees when making deposits and withdrawals.。Exness does not charge traders any transaction fees, and the chosen payment provider may incur some fees。Exness offers traders a variety of payment methods, including wire transfers, bank cards, Neteller, Skrill and more。

Financial reports and metrics on the Exness website are audited quarterly by Deloitte, one of the world's top four accounting firms。

In addition, Exness is one of the most transparent brokers in the online trading industry, and traders can find all the information about the company on the website, such as trading volume, number of active customers, customer deposits, company funds, etc.。

Exness offers different platforms, including MetaTrader 4, MetaTrader 5, web and mobile platforms。This makes it easier for traders to trade on Exness because they can also access the Exness platform anytime, anywhere.。

Over the years, Exness has developed into a broker that attracts traders, who comply with financial regulations such as FCA and CySEC, further strengthening their trust.。

One measure of customer confidence is the volume of transactions。As of December 2018, the monthly trading volume of its clients reached $348.4 billion, with more than 50,342 active traders worldwide.。

With the programs offered by Exness, traders also have the opportunity to earn extra income by becoming their partner。By introducing the Broker (IB) program, partners can earn up to 33% spread commission from each new customer who registers。

Additional income from Exness Partners。Traders who register through the member link can earn up to 25% spread commission per trade.。

Customers can also use their free VPS hosting service when trading at Exness。VPS (Virtual Private Server) provides traders with greater reliability and stability because they can maintain their trading and expert advisors without interruption in the event of unexpected technical problems (such as Internet or power outages)。

In summary, Exness is a trader's favorite broker due to its low spreads and flexible account type, ideal for traders with limited funds but need more opportunities to maximize profits。The broker is also known for its maximum support for new and old partners.。

Conclusion

Speed of execution, low cost and a reliable platform may be key to the success of intraday trading。Therefore, when choosing the best broker for day trading, it is most important to take these factors into account。Another important aspect is to start small。Once you have gained more experience in using your chosen trading platform, you can trade larger positions。