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9 Best Online Trading Platforms for Day Trading

Kevin VoigtJune 2, 2020

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.

If you’re an active trader looking to try your hand at beating the market, you probably have a good idea of what you want in a brokerage: low costs, premium research, innovative strategy tools and a comprehensive trading platform. Below, we’ve selected the best online brokers 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.

Summary of Best Online Trading Platforms for Day Trading

BrokerNerdWallet Rating CommissionsPromotionAccount MinimumLearn More
E*TRADE

E*TRADE

on E*TRADE's website

$0

per trade

None

no promotion available at this time

$0

on E*TRADE's website

Interactive Brokers IBKR Pro

Interactive Brokers IBKR Pro

on Interactive Brokers's website

$0.01

per share

Exclusive!

0.25% reduction on margin loans. Tiers apply

$0

on Interactive Brokers's website

TradeStation

TradeStation

on TradeStation's website

$0

per trade

Up to $2,500

cash credit with a qualifying deposit

$0

on TradeStation's website

TD Ameritrade

TD Ameritrade

$0

per trade

None

no promotion at this time

$0

Read review
Firstrade

Firstrade

$0

per trade

Up to $200

in Transfer Fee Rebates

$0

Read review
E*TRADE

on E*TRADE's website

E*TRADE

E*TRADE

Fees

$0

per trade

Account Minimum

$0

Promotion

None

no promotion available at this time

on E*TRADE's website


Promotion

None

no promotion available at this time

Why we like it

E*TRADE has long been one of the most popular online brokers. The company's $0 commissions and strong trading platforms appeal to active traders, while beginner investors benefit from a large library of educational resources.

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
Interactive Brokers IBKR Pro

on Interactive Brokers's website

Interactive Brokers IBKR Pro

Interactive Brokers IBKR Pro

Fees

$0.01

per share

Account Minimum

$0

Promotion

Exclusive!

0.25% reduction on margin loans. Tiers apply

on Interactive Brokers's website


Promotion

Exclusive!

0.25% reduction on margin loans. Tiers apply

Why we like it

Interactive Brokers attracts active traders with per-share pricing, an advanced trading platform, a large selection of tradable securities — including foreign stocks — and ridiculously low margin rates.

Pros

  • Per-share pricing.

  • Volume discounts.

  • Large investment selection.

  • Extensive tools for active traders.

  • Powerful trading platform.

  • NerdWallet users who sign up get a 0.25 percentage point discount on margin rates.

Cons

  • Complex pricing on some investments.

  • Inactivity fees.

  • Website is difficult to navigate.

Read Full Review
TradeStation

on TradeStation's website

TradeStation

TradeStation

Fees

$0

per trade

Account Minimum

$0

Promotion

Up to $2,500

cash credit with a qualifying deposit

on TradeStation's website


Promotion

Up to $2,500

cash credit with a qualifying deposit

Why we like it

TradeStation is a strong choice for active stock, options and futures investors who rely on the broker’s high-octane trading platform, reams of research and sophisticated analytical tools. Trades of up to 10,000 shares are commission-free.

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

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

Last updated on June 2, 2020

Methodology

NerdWallet’s ratings for brokers and robo-advisors are weighted averages of several categories, including investment selection, customer support, account fees, account minimum, trading costs and more. Our survey of brokers and robo-advisors includes the largest U.S. providers by assets under management, plus notable and/or emerging players in the industry. Factors we consider, depending on the category, include advisory fees, branch access, user-facing technology, customer service and mobile features. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.

To recap our selections...

NerdWallet's Best Online Trading Platforms for Day Trading

Frequently asked questions