BEST OF

11 Best Online Trading Platforms for Day Trading of January 2022

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

Jan 11, 2022

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If you’re a day trader (or an aspiring day trader) looking to try your hand at beating the market, 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. 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 Online Trading Platforms for Day Trading

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

None

no promotion available at this time

Learn more

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
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 meets the needs of both active traders and beginner investors with quality trading platforms; $0 commissions on online stock, options and ETF trades; and a large selection of mutual funds.

Pros

  • Commission-free stock, ETF and options trades.

  • Free research.

  • High-quality trading platforms.

  • No account minimum.

  • Good customer support.

  • Large investment selection.

Cons

  • No fractional shares.

Read Full Review
Interactive Brokers IBKR Pro
Learn more

on Interactive Brokers's 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!

0.25% reduction on margin loans. Tiers apply

Learn more

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 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
TradeStation
Learn more

on TradeStation's website

TradeStation

4.5

NerdWallet rating 
TradeStation

Fees

$0

per trade

Account Minimum

$500

Promotion

$50 - $5,000

cash credit with a minimum deposit of $5,000

Learn more

on TradeStation's website


Promotion

$50 - $5,000

cash credit with a minimum deposit of $5,000

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
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 Trade is an online brokerage firm committed to active traders and investors, offering penny-per-share trades and a robust trading platform. Unusual in the world of discount brokers, Zacks offers free broker-assisted trades, so if you're at all likely to seek help making a trade, Zacks could be a good choice.

Pros

  • Ample research offerings.

  • Robust trading platform.

  • Access to international exchanges.

Cons

  • Trails competitors on commissions.

  • High account minimum.

Read Full Review
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

None

no promotion available at this time

Learn more

on Fidelity's website


Promotion

None

no promotion available at this time

Why we like it

Fidelity offers $0 trading commissions, a selection of more than 3,700 no-transaction-fee mutual funds and top-notch research tools and trading platform. Its zero-fee index funds and strong customer service reputation are just icing on the cake.

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
Webull
Learn more

on Webull's website

Webull

4.5

NerdWallet rating 
Webull

Fees

$0

per trade

Account Minimum

$0

Promotion

Get 2 free stocks

valued up to $3300 when you open and fund an account. Promotion ends 1/31/21.

Learn more

on Webull's website


Promotion

Get 2 free stocks

valued up to $3300 when you open and fund an account. Promotion ends 1/31/21.

Why we like it

Webull will appeal to the mobile-first generation of casual investors with its slick interface for desktop and mobile apps, but the brokerage also delivers an impressive array of tools for active traders. However, its relatively weak educational content may leave true beginners in the lurch, and it lacks access to a few common asset classes.

Pros

  • Low costs.

  • Easy-to-use platform.

  • Advanced tools.

  • Access to cryptocurrency.

Cons

  • No mutual funds.

  • Thin educational support.

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 high-quality customer service, robust research and low fees. Customers of parent company Bank of America will love the seamless, thoughtful integration, with a single login to access both accounts.

Pros

  • Robust third-party research.

  • Integrated with Bank of America.

Cons

  • Advanced traders may find fewer securities on offer.

Read Full Review

Charles Schwab

5.0

NerdWallet rating 
Charles Schwab

Fees

$0

per trade

Account Minimum

$0

Promotion

None

no promotion available at this time


Promotion

None

no promotion available at this time

Why we like it

Charles Schwab has earned its strong reputation: The broker offers high-quality customer service, three free trading platforms, a wide selection of no-transaction-fee mutual funds and $0 commissions for stocks, ETFs and options.

Pros

  • Three platforms with no minimum or fees.

  • Above-average mobile app.

  • Extensive research.

  • Large fund selection.

  • Commission-free stock, options and ETF trades.

Cons

  • Low default cash sweep rate.

Read Full Review

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.


Promotion

$100 - $3,000

in cash bonus with qualifying deposit.

Why we like it

Ally Invest’s robust trading platform and lineup of free research, charting, data and analytical tools make it a good choice for active traders. But it’s also appropriate for beginning investors who will appreciate that there is no account minimum and no annual fees.

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

Firstrade

4.0

NerdWallet rating 
Firstrade

Fees

$0

per trade

Account Minimum

$0

Promotion

Up to $200

in Transfer Fee Rebates


Promotion

Up to $200

in Transfer Fee Rebates

Why we like it

In addition to free stock and options trading, Firstrade charges no commission for mutual funds, a deal no other broker matches. Options traders will appreciate that the broker charges no contract fee, also a rarity among brokers.

Pros

  • Commission-free stock, ETF and options trades.

  • $0 contract fee on options trades.

  • All mutual funds are commission-free.

  • Chinese language options.

Cons

  • No 24/7 customer support.

Read Full Review

Disclosure: The author held no positions in the aforementioned securities at the time of publication.

Last updated on January 11, 2022

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

Marcus by Goldman Sachs Online Savings Account

5.0

NerdWallet rating 
Marcus by Goldman Sachs Online Savings Account

APY

0.50%

With $0 minimum balance

at Marcus by Goldman Sachs, Member FDIC

Discover Bank Online Savings

5.0

NerdWallet rating 
Discover Bank Online Savings

APY

0.40%

With $0 minimum balance

Bonus

$200

Requirements to qualify

at Discover Bank, Member FDIC

Alliant Credit Union High-Rate Savings

5.0

NerdWallet rating 
Alliant Credit Union High-Rate Savings

APY

0.55%

With $100 minimum balance

at Alliant Credit Union, Federally insured by the NCUA

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 Online Trading Platforms for Day Trading of January 2022

Frequently asked questions