Top 5 Online Day Trading Platforms

The top online day trading platforms provide advanced features, speedy execution, a vast library of research material, an accessible mobile app for trades on the go and more. They're suitable for both experienced and novice investors alike and give you full control over your investments.

A good trading platform should be user-friendly and offer all necessary data. Furthermore, you should have the capacity to back-test your strategy before risking actual money.

eToro

eToro is a social trading platform that enables investors to copy the trades of other traders. It offers an extensive range of assets to trade, such as stocks, exchange-traded funds (ETFs), indices, currencies and cryptocurrencies. Furthermore, eToro boasts advanced features like trading both price directions (up/down), stop-loss orders and take-profit orders.

Traders have access to a wealth of research to aid them in making informed decisions. Unfortunately, this research often relies on world events and government policies rather than company-specific data, making it harder to accurately forecast stock price direction.

Additionally, eToro does not support margin accounts, which may restrict your options for opening an account. On the plus side, they offer commission-free trading on stocks and ETFs while options come without contract fees.

Like many trading platforms, eToro provides a robust mobile app that lets you place trades and monitor your account balance on-the-go. Furthermore, you can set price alerts so that you will be notified when an asset reaches your desired value.

The platform also permits traders to trade CFDs, or contracts for difference. These are an excellent way to profit from market fluctuations without having to purchase the underlying asset itself.

For beginners, eToro provides a $100,000 virtual trading account to practice before risking your own funds. Its educational section is also useful, although the content is somewhat limited and lacks material on financial guidance and goal planning.

Joining the eToro Club offers you a number of benefits, such as an assigned account manager, quarterly analyst newsletters, streaming webinars and priority customer service - depending on your tier level membership. To take advantage of all these services you must join at least one tier above free membership.

TD Ameritrade

TD Ameritrade provides investors with a wealth of advanced features. Their trading software is user-friendly and can be tailored to suit individual needs, while there are three main platforms: the classic web platform, thinkorswim desktop solution and mobile app.

The TD Ameritrade mobile app is packed with features, such as real-time data streams and watchlists. Additionally, it supports market news and alerts which can help investors stay ahead of their trading strategies. The green "trade" icon at the top right of the screen makes searching for a symbol easy; just tap away at that symbol to execute an order quickly and easily.

At TD Ameritrade, clients can trade a wide range of assets such as stocks, ETFs, options, futures and forex. Furthermore, they provide cash management and banking services.

For those seeking a more customized approach, the desktop thinkorswim trading platform is an ideal option. It allows you to set up custom trading signals and backtest your strategies against historical data; plus, it supports contingent orders as well.

TD Ameritrade stands out among other brokers by offering a paper money virtual trading simulator, an invaluable feature for those who want to hone their strategies before risking real money. This is especially helpful for novice traders.

Another impressive aspect of TD Ameritrade's offering is its research and educational tools. With over 200 instructional videos and tutorials, articles & publications, and online seminars available for learning about investing and trading strategies, there's something for everyone at this broker.

TD Ameritrade is a highly rated brokerage that charges no commissions on stock and ETF trades. With an expansive network of branches throughout the US, all account holders are eligible to book investment consultations with local employees.

Webull

Webull is an online stock broker boasting advanced features, quick execution and a vast library of research. It makes Webull an ideal option for traders who want to invest in stocks and ETFs without paying commission fees.

Webull's trading software is highly customizable, with templates available for stock and ETF trading, options trading and day trading. Traders can switch between these templates or create their own page layouts using widgets - which save space while continuously updating with new information.

Traders can also utilize a paper trading account to practice their strategies before investing real money in trades. This is an invaluable feature for beginners, as it helps you comprehend how your decisions will perform over time.

Webull also provides full extended hours trading, which enables you to trade in both pre-market and after-hours markets. This is beneficial for day traders since it gives them more opportunities during market sessions.

Anyone interested in tracking their investments can take advantage of a free online portfolio tracker. This is an invaluable tool that provides insight into how decisions will perform over time and is accessible on desktop, web and mobile.

Furthermore, Webull's mobile app is top-notch, featuring progressive features and two-step login. Its search function is also user friendly, allowing users to set alerts with just the touch of a button.

Webull is an attractive option for those seeking to trade stocks and ETFs without paying commission fees, however it lacks some of its competitors' features like mutual funds or support for OTC Bulletin Board or Pink Sheet stocks. Unfortunately, Webull does not currently provide these services.

Magnifi

Magnifi is revolutionizing investment processes with AI, language recognition and investment intelligence. It helps financial advisors, portfolio managers and everyday investors quickly locate and act on investments using natural language input - all with one intuitive platform.

Magnifi offers an expansive library of research and a user-friendly mobile app that are designed to save time and make investing simpler for both novice and experienced investors, as well as financial advisors. For instance, Magnifi offers a stock screener that lets users search stocks by typing in a phrase or keyword.

The platform also permits investors to open an account and purchase various investments. Furthermore, it offers users a unified banking experience across all devices.

Individual investors are welcome to use this free service; however, upgrading to an investment account with more advanced capabilities requires money and may prove a barrier for some.

Magnifi provides a vast selection of products, such as options, shares, ETFs, mutual funds and indexed portfolios. Plus it provides numerous trading tools and features like trading signals. Furthermore, you can sign up for a free account to give the software a test drive and see how well it works for you.

Interactive Brokers

For advanced traders who require a powerful platform and extensive trading options, Interactive Brokers is your top pick. Their Trader Workstation (TWS) trading software is highly customizable and provides excellent order execution.

They provide a range of trading products, such as stocks, options, futures and forex. Furthermore, they provide trading education and market research.

The company is a worldwide leader with 24 offices across 14 countries and serving more than 1.3 million accounts. It's rated investment grade by Standard & Poor's and regulated by the SEC, FINRA, NYSE, FCA and other regulatory bodies.

Traders can log in to the software using various credentials, such as Facebook or Google logins. Once signed in, traders have access to a range of options like their client portal and WebTrader.

Investors can take advantage of the company's free online classes and trading labs to learn how to trade. They offer video tutorials, quizzes and notes that will give investors a deeper comprehension of the market and their own trading strategies.

Interactive Brokers also offers a robust mobile app in addition to their trading platforms. This free-to-download application includes commission-free trading on US stocks and ETFs, fractional shares, crypto assets and mutual funds.

Mobile traders will find this an advantageous offering and an ideal complement to desktop-based Trading Window Service (TWS). It can be accessed via SMS, Facebook messenger or Amazon Alexa system and offers a host of features.

Another strong selling point of theirs is their low-cost margin loans. They charge 1.5 percent above benchmark rates on balances below $100,000, which is significantly lower than other providers' offers. This makes them an attractive option for investors who use margin frequently.