BEST OF

11 Best Trading Platforms for Day Trading of August 2022

The best online day trading platforms offer advanced features, fast execution, a large selection of research, low costs and a robust mobile app for trading on the go.

Aug 1, 2022

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.


The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.

If you’re a day trader (or an aspiring day trader), you probably have a good idea of what you want in a brokerage and online trading platform: low costs, premium research, innovative strategy tools and a comprehensive trading platform. But how to the online brokers stack up when it comes to meeting those needs? Below, we’ve selected the best brokers for day trading and platforms in a variety of categories so you can choose one based on your personal priorities.

One note before you begin: Pattern day traders — as defined by the SEC — must have at least $25,000 in equity in their accounts and be approved for margin trading, regardless of whether their broker’s account minimum is lower.

» New to this world? Learn the basics with our guide to how day trading works.

Best Trading Platforms for Day Trading

Fidelity
Learn more

on Fidelity's website

Fidelity

5.0

NerdWallet rating 
Fidelity

Fees

$0

per trade for online U.S. stocks and ETFs

Account minimum

$0

Promotion

Get $100

when you open a new, eligible Fidelity account with $50 or more. Use code FIDELITY100. Limited time offer. Terms apply.

Learn more

on Fidelity's website


Promotion

Get $100

when you open a new, eligible Fidelity account with $50 or more. Use code FIDELITY100. Limited time offer. Terms apply.

Why we like it

Fidelity has two trading platforms, Fidelity.com and Active Trader Pro. Fidelity offers advanced screeners using research and strategy-testing tools based on 10 years of historical data.

The upper-tier platform includes both a downloadable desktop version and a web alternative, which investors can toggle between seamlessly. The platform includes intuitive shortcuts, pre-built market, technical and options filters, advanced options tools and a multitrade ticket that can store orders for later and place up to 50 orders at a time.

Pros

  • Commission-free stock, ETF and options trades.

  • Large selection of research providers.

  • Strong customer service.

  • Expense-ratio-free index funds.

  • Highly rated mobile app.

Cons

  • Relatively high broker-assisted trade fee.

Read Full Review
Merrill Edge
Learn more

on Merrill Edge's website

Merrill Edge

4.5

NerdWallet rating 
Merrill Edge

Fees

$0

per trade

Account minimum

$0

Promotion

Up to $600

when you invest in a new Merrill Edge® Self-Directed account.

Learn more

on Merrill Edge's website


Promotion

Up to $600

when you invest in a new Merrill Edge® Self-Directed account.

Why we like it

Merrill Edge offers website trading and an active trader platform Merrill Edge MarketPro. The website offers several screeners so you can quickly sort through stocks, mutual funds, ETFs and bonds. There's also a "quick trade" feature that lets you make stock and ETF trades from just about any page on the website.

The MarketPro platform, available to all Merrill Edge customers, includes much of what active traders expect: interactive charts, alerts, Level II quotes (which show real-time bid and ask prices for Nasdaq stocks), a customizable dashboard, and streaming data and news.

Pros

  • Robust third-party research.

  • Integrated with Bank of America.

Cons

  • Advanced traders may find fewer securities on offer.

Read Full Review
Interactive Brokers IBKR Pro
Learn more

on Interactive Brokers' website

Interactive Brokers IBKR Pro

5.0

NerdWallet rating 
Interactive Brokers IBKR Pro

Fees

$0.005

per share; as low as $0.0005 with volume discounts

Account minimum

$0

Promotion

Exclusive!

US resident opens a new IBKR Pro individual or joint account receives 0.25% rate reduction on margin loans. Tiers apply.

Learn more

on Interactive Brokers' website


Promotion

Exclusive!

US resident opens a new IBKR Pro individual or joint account receives 0.25% rate reduction on margin loans. Tiers apply.

Why we like it

Both IBKR Lite and IBKR Pro traders have access to Interactive Brokers’ Desktop Trader Workstation. This platform is fast and includes both standard features, such as real-time monitoring, alerts, watchlists and a customizable account dashboard, and more unique features as well. The options strategy lab lets you submit multileg options orders and compare up to five options strategies at one time.

Interactive Brokers also offers a volatility lab, advanced charting, heat maps of sector and stock symbol performance, paper trading and a mutual fund replicator, which helps users identify ETFs that replicate the performance of a selected mutual fund with lower fees.

Pros

  • Per-share pricing.

  • Volume discounts.

  • Large investment selection.

  • Extensive tools for active traders.

  • Powerful trading platform.

  • NerdWallet users who sign up for IBKR Pro get a 0.25% discount on the first $100,000 of a margin loan.

Cons

  • Complex pricing on some investments.

  • Website is difficult to navigate.

Read Full Review
TD Ameritrade
Learn more

on TD Ameritrade's website

TD Ameritrade

5.0

NerdWallet rating 
TD Ameritrade

Fees

$0

per trade

Account minimum

$0

Promotion

None

no promotion available at this time

Learn more

on TD Ameritrade's website


Promotion

None

no promotion available at this time

Why we like it

TD Ameritrade offers two main trading platforms, each with a corresponding mobile version. TDAmeritrade.com has just about everything an average investor needs to identify, research, screen and trade stocks, funds, bonds and CDs. The free platform offers screeners, a customizable landing page and the broker's GainsKeep tool, which can help you track capital gains and losses.

The desktop platform, thinkorswim, is aimed at serious stock, ETF, futures and forex traders. It offers advanced trading capabilities, technical analysis tools and studies, customizable screeners and charting, backtesting capabilities, real-time news, quotes, market heat maps and more. TD lets you place trades through Twitter, Facebook and Apple Business chat.

The company also offers paper trading with access to $100,000 in practice "money." It's available for free through the broker's two platforms and its Mobile Trader app.

Pros

  • Commission-free stock and ETF trades.

  • Free research.

  • High-quality trading platforms.

  • No account minimum.

  • Good customer support.

  • Large investment selection.

Cons

  • No fractional shares.

Read Full Review
TradeStation
Learn more

on TradeStation's website

TradeStation

4.5

NerdWallet rating 
TradeStation

Fees

$0

per trade

Account minimum

$500

Promotion

Get an extra $150

cash credit with a minimum deposit of $500. Offer Code: NERDAGCU.

Learn more

on TradeStation's website


Promotion

Get an extra $150

cash credit with a minimum deposit of $500. Offer Code: NERDAGCU.

Why we like it

TradeStation offers direct-market access, automatic trade execution and tools for customers to design, test, monitor and automate their custom trading strategies for stocks, options and futures. TradeStation Simulator allows users to test out new investing strategies before putting any money on the line.

Options investors will appreciate free access to the OptionStation Pro platform. With its preview mode, mobile-app users can create custom watch lists, and view charts and trends without opening an account.

Pros

  • High-quality trading platforms.

  • Comprehensive research.

  • Commission-free stock, ETF and options trades.

  • Advanced tools.

  • Active trader community.

Cons

  • Free trading on advanced platform requires TS Select.

  • No transaction-fee-free mutual funds.

  • Plans and pricing can be confusing.

Read Full Review
Ally Invest
Learn more

on Ally Invest's website

Ally Invest

4.5

NerdWallet rating 
Ally Invest

Fees

$0

per trade (on eligible US securities)

Account minimum

$0

Promotion

$100-$3,000

in cash bonus with qualifying deposit.

Learn more

on Ally Invest's website


Promotion

$100-$3,000

in cash bonus with qualifying deposit.

Why we like it

Ally Invest offers quick trading capabilities, real-time streaming quotes and data, a customizable dashboard and access to all of the broker's tools. Ally's web-based platform makes trading on multiple computers, and Ally's app, easy. Ally also offers an app specifically dedicated to forex trading.

Pros

  • Commission-free trades on eligible U.S. stocks, options and ETFs.

  • No account minimum.

  • Strong web-based platform.

  • Robust research and tools.

Cons

  • No no-transaction-fee mutual funds.

  • No branches.

Read Full Review
E*TRADE
Learn more

on E*TRADE's website

E*TRADE

4.5

NerdWallet rating 
E*TRADE

Fees

$0

per trade

Account minimum

$0

Promotion

Get up to $600 or more

when you open and fund an E*TRADE account

Learn more

on E*TRADE's website


Promotion

Get up to $600 or more

when you open and fund an E*TRADE account

Why we like it

E*TRADE has two trading platforms — E*TRADE Web and Power E*TRADE. Both are free and available to all customers, with no trade activity or balance minimums.

E*TRADE Web offers free streaming market data, free real-time quotes, live market commentary, analyst research, stock screeners and more. Power E*TRADE offers real-time data, more than 100 technical studies, over 30 drawing tools, streamlined trade tickets, customizable options chain views and trading ladders.

Pros

  • Easy-to-use tools.

  • Large investment selection.

  • Excellent customer support.

  • Access to extensive research.

  • Advanced mobile app.

  • Commission-free stock, options and ETF trades.

Cons

  • Website can be difficult to navigate.

Read Full Review
Webull
Learn more

on Webull's website

Webull

4.5

NerdWallet rating 
Webull

Fees

$0

per trade

Account minimum

$0

Promotion

Get up to 12 free stocks (valued up to $30,600)

when you open and fund an account with Webull. Promotion ends 8/31/2022.

Learn more

on Webull's website


Promotion

Get up to 12 free stocks (valued up to $30,600)

when you open and fund an account with Webull. Promotion ends 8/31/2022.

Why we like it

Webull offers a number of charts, graphs, indicators and screens with a clear interface. And this is where Webull excels: combining the minimalist look and feel the mobile-first generation is accustomed to with the capabilities of a more advanced product. This also helps Webull offer a platform that bridges intermediate-level trading and advanced trading, ushering users along their investment journey as they gain more experience.

Pros

  • Low costs.

  • Easy-to-use platform.

  • Advanced tools.

  • Access to cryptocurrency.

Cons

  • No mutual funds.

  • Thin educational support.

Read Full Review
Zacks Trade
Learn more

on Zacks Trade's website

Zacks Trade

4.0

NerdWallet rating 
Zacks Trade

Fees

$0.01

per share

Account minimum

$2,500

Promotion

None

no promotion available at this time

Learn more

on Zacks Trade's website


Promotion

None

no promotion available at this time

Why we like it

Zacks offers three free trading platforms. The downloadable Zacks Trade Pro lets you customize the layout to suit your needs, offers custom charting, more than 120 technical indicators and an Options Strategy Lab to help you assess potential options trades.

The web-based Zacks Trader offers interactive charts, streaming market data and other tools.

Pros

  • Ample research offerings.

  • Robust trading platform.

  • Access to international exchanges.

Cons

  • Trails competitors on commissions.

  • High account minimum.

Read Full Review

Want to compare more options? Here are our other top picks:

Last updated on August 1, 2022

You may also like these

People often identify opening a savings account as their next money move.

Marcus by Goldman Sachs Online Savings Account

4.5

NerdWallet rating 
Marcus by Goldman Sachs Online Savings Account

APY

1.50%

With $0 min. balance for APY

at Marcus by Goldman Sachs, Member FDIC

Discover Bank Online Savings

5.0

NerdWallet rating 
Discover Bank Online Savings

APY

1.50%

With $0 min. balance for APY

Bonus

$200

Requirements to qualify

at Discover Bank, Member FDIC

American Express® High Yield Savings Account

4.5

NerdWallet rating 
American Express® High Yield Savings Account

APY

1.40%

With $1 min. balance for APY

at American Express National Bank, Member FDIC

Methodology

NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers and robo-advisors. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.

We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.For more details about the categories considered when rating providers and our processes, read our full broker ratings methodology and our full robo-advisor ratings methodology.

To recap our selections...

NerdWallet's Best Trading Platforms for Day Trading of August 2022

Frequently asked questions