Best Brokers for Day Trading

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last updated by

stumpyforget 7 months, 3 weeks ago

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November 15, 2019 at 7:22 pm #87651

Topic by: Reply by: Dixie

Best Brokers for Day Trading

When choosing an online broker, day traders place a premium on speed, reliability, and low cost. Features designed to appeal to long-term infrequent traders are unnecessary for day traders, who generally start a trading day with no positions in their portfolios, make a lot of transactions, and end the day having closed all of those trades. Day traders may place their trades manually, often from a chart, or set up an automated system that generates orders on their behalf. Fundamental data is not a concern, but the ability to monitor price volatility, liquidity, trading volume, and breaking news is key to successful day trading.
November 15, 2019 at 7:23 pm #87653

Topic by: Reply by: Myaclone

Best Brokers for Day Trading

Day traders often prefer brokers who charge per share (rather than per trade). Traders also need real-time margin and buying power updates. Each broker ranked here affords their day-trading customers the ability to enter orders quickly by customizing the size of trades and turning off the trade confirmation screen. We sought brokers who allow traders to place multiple orders simultaneously, designate which trading venue will handle the order, and customize trading defaults.
November 15, 2019 at 7:23 pm #87654

Topic by: Reply by: Dixie

Best Brokers for Day Trading

The longtime leader in low-cost trading, Interactive Brokers is geared for very active traders. Though they have been adding features for less frequent traders over the last few years, their priority is keeping fees down. The speedy downloadable platform, Trader Workstation (TWS), includes dozens of professional-grade trading algorithms, such as the Adaptive Algo, which finds better prices for filling orders.
November 15, 2019 at 7:24 pm #87655

Topic by: Reply by: Myaclone

Best Brokers for Day Trading

IB’s margin rates are practically the lowest you will find, especially for traders who use more than $100,000 of margin. You can automate a trading strategy using an API plug-in, or by subscribing to a strategy on their Investors’ Marketplace.
November 20, 2019 at 2:51 pm #87717

Topic by: Reply by: stumpyforget

Best Brokers for Day Trading

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