There are a lot of trading platforms out there, yet there are only a few that day traders preferred to use.
In this article, let me introduce the day trading platform, and a brokerage firm that day trader preferred to use and why.
What should you look for in day-trading platforms?
There are a few things to consider before you choose the right one that fits you. Here’s the list of things to consider:
- Trustable
- Reliable
- Free commission
✅ Trustable – Make sure the platform has its high regards for their name value. I’ll be very careful about where I put my money on. I rather have a broker/platform who I can call to if something goes wrong.
✅ Reliable – Make sure the broker is not a small size broker. You don’t want them to go bankrupt, do you?
✅ Free commission – This one is very important if you are trading with small size money. Don’t be a surprise, the commission can eat up your earnings without notice.
Let’s look at some of the platforms that we like!
List of best day-trading platforms
Here’s a list of platforms that our day traders trust and use!
thinkorswim by TD Ameritrade
Well-known TD Ameritrade is a very popular brokerage firm amongst day traders, credit to their state-of-the-art trading platform ThinkorSwim has won numerous awards for their clean and sophisticated performances.
You can play around with their demo-account to get the hang of their trading software too.
They recently made zero commission trade available, so definitely give it a try!
The benefits of using thinkorswim platform
There are a couple of benefits of using thinkorswim platform for day trading.
- ✅ Paper trading is available
- ✅ Simulate past days to practice trading
- ✅ A seamless experience on the mobile/tablet
- ✅ Tons of indicators
I really love the fact that I can try my new day trading strategies by going back in time (for real), and actually day trade using paper money. Also, mobile is key for me because I’ll be able to trade on the road without feeling that I’m missing something from the desktop app.
What are the fees for thinkorswim platform?
The good thing about thinkorswim is that its platform is free to use. For trading fees, they offer $0 commission on online stocks, ETFs, and options trades for U.S. exchange-listed items. For option contracts, there is a small charge of $0.65 USD.
ZeroPro by Tradezero
Tradezero is the popular choice for day traders for its free commission trading. They are the earlier brokerage firm that made it happen, and I believe people stick with them for their brand.
The benefits of using ZeroPro platform
TradeZero is a known platform for its good performances when it comes to day trading. Every second count in day trading, so you also want the data that comes in real-time.
What are the fees for ZeroPro platform?
ZeroPro platform is downloadable software, and its fee is $79 USD with 100,000 shares per month of free trades.
Summary
These are the trading platform that is good for day trading. Both thinkorswim, and tradezero has a large amount of user base in the US.
I’d suggest thinkorswim to start with, since there are a lot of features that help day trader practice their trade, including paper trading functions. Then, if you’re more comfortable, move to a professional platform like ZeroPro.
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