In this guide, we will go over the best Day Trading Apps. We base our analysis on a variety of factors such as fees, regulation, security, trading platforms, tools, research and more.
Table of Contents
List of our top apps for Day Trading 2024
There are loads of different day trading apps out there. This can make choosing the best one difficult. We have analyzed the best day trading apps below, and this is our selection…
- Interactive Brokers – Best Overall
- eToro – Bestfor Copy Trading
- AvaTrade – Best for Forex
- Plus500 – Great CFD Trading App
- Pepperstone – Low Spread Forex Day Trading
- Fidelity – US-Based Day Trading App
- Tastyworks
- SoFi
- TD Ameritrade
- Trading 212
- Robinhood
- Merrill Edge
- TradeStation
- Webull
- e*Trade
- Charles Schwab
PFI Rating: 4.9/5
Interactive Brokers
Interactive Brokers is our top pick as the best app for Day Trading. They recently launched Global Trader – a user-friendly trading app with fast trade execution and the best market access.
Interactive Brokers was founded in 1978 and is regulated by SEC, CFTC, FCA, and NFA.
Interactive Brokers offer Stocks, ETFs, Options, Futures, Currencies, Cryptocurrencies, US Spot Gold, Bonds, Mutual Funds, and Hedge Funds.
The minimum deposit is $0. They offer Bank Wire, Credit Cards, ACH, Mail a check, Rollover, Online Bill Pay, Trustee-to-Trustee, and SEP Contribution.
Their day trading fees are low, and execution speeds are fast.
- Regulated by Top Authorities
- Low Day Trading Fees
- No Minimum Deposit
On Interactive Brokers' Official Website
PFI Rating: 4.9/5
eToro
eToro is the runner-up as the best copy day trading app. eToro was founded in 2007 and is regulated by top-tier regulators worldwide. FCA, CySEC, ASIC, and FSAS regulate it.
eToro offers CFDs on Stocks, ETFs, Forex, Crypto, Indices, and Commodities. They also offer real stocks for long-term investors.
The minimum deposit varies across countries. They offer Skrill, Neteller, Debit Card, Rapid Transfer, iDEAL, Klarna / Sofort Banking, Bank Transfer, Online Banking – Trustly.
Their day trading fees are low for stocks but higher for CFDs.
{etoroCFDrisk}% of retail investor accounts lose money when trading CFDs with this provider.
PFI Rating: 4.8/5
AvaTrade
AvaTrade is great for its proprietary options day trading app AvaOptions. Avatrade was founded in 2006 and is regulated by top-tier regulators worldwide. FCA, ASIC, FSCA, FRSA, Israel Securities Authority, and the Financial Futures Association of Japan regulate it.
The minimum deposit is $100.
AvaTrade offers CFDs Forex, Stocks, Commodities, FXOptions, Cryptocurrencies, Indices, ETFs, and Bonds.
Their day trading apps are easy-to-use and have a great user experience.
Their day trading fees are low.
76% of retail investor accounts lose money when trading CFDs with this provider.
PFI Rating: 4.8/5
Plus500
Plus500 is our pick as a great CFD day trading app founded in 2008.
Plus500 offers CFDs on Shares, Forex, Commodities, Indices, Crypto, Options, and ETFs.
The minimum deposit is $100. They offer PayPal, Skrill, Credit Card, Debit Card, and Bank Transfer.
Their day trading fees are fairly low.
PFI Rating: 4.8/5
Pepperstone
Pepperstone is the best app for Forex day trading. Pepperstone was founded in 2010 and is regulated by top-tier authorities. ASIC, CySEC, FCA, SCB, DFSA, BaFin, and CMA regulate it.
Pepperstone offers CFDs on Forex, Crypto, Shares, Indices, and Cryptocurrencies.
The minimum deposit is $0. They offer Credit/debit cards, Bank/Wire Transfer, PayPal, Neteller, Skrill, and UnionPay.
Their day trading fees are low, with some of the lowest spreads in the industry.
74-89 % of retail investor accounts lose money when trading CFDs
Fidelity
This multinational services corporation offers a wide range of services for fast, efficient trading. Fidelity offers stocks, ETFs, options, mutual funds, and more.
Some attractive features include commission-free trading and fractional share trading.
| PROS | CONS |
|---|---|
| Fractional share trading on offer | Fidelity is a better option for experienced traders, but it can be difficult for beginner day traders to navigate |
| Trading is easier with the great decision-making technology | |
| Many different investment options available |
Tastyworks
Tastyworks is a versatile app for all levels of investors. Tastyworks has a great following feature that allows you to keep up to date with the moves of other successful investors. This is something similar to the eToro copy trading solution. Tastyworks has several useful tools to help enhance your investing.
| PROS | CONS |
|---|---|
| Trading fees are low | Limited deposit and withdrawal options |
| Great research tools and information available | The range of investment options could be better |
| Easy to used and start trading on |
SoFi
When it comes to mobile trading experience, SoFi is one of the best. Their app appeals to active traders thanks to its wide array of financial products. Active traders can also enjoy free stocks and ETFs. The account opening and navigation process are easy.
| PROS | CONS |
|---|---|
| Offers a wide range of low-cost investments | SoFi is only available for US investors |
| The platform offers access to financial advisors | |
| Free management and automatic rebalancing |
TD Ameritrade
TD Ameritrade offers common stocks and preferred stocks, forex, exchange-traded funds, futures contracts, crypto, mutual funds, margin lending, fixed-income investments, and cash management services.
This is one of the more versatile stock trading platforms.
| PROS | CONS |
|---|---|
| Commission-free trading on stocks, ETF, and options | TD Ameritrade is limited to US investors and account holders only |
| There is no account minimum | |
| Advanced customer support |
Trading 212
This is one of the best simple trading platforms for day traders. You can make use of efficient global stock and ETF options with no commission fees.
Trading 212 is also very user-friendly for beginners. The account minimum is only $1, and there is a demo mode available for getting started.
| PROS | CONS |
|---|---|
| The trading fees are low | There is not a wide range of investment options |
| A very easy trading platform to use | This trading platform is better suited to beginners |
| Opening an account and getting started is easy |
Robinhood
Robinhood is a very popular trading platform, and certainly one of the best. This platform offers commission-free stock trading, funds, options, cash management, gold, and crypto.
Robinhood offers numerous helpful tools and no account minimums. Traders get a special Robinhood debit card to use at their fee-free ATMs. For active traders, this can be appealing.
| PROS | CONS |
|---|---|
| No account minimum or monthly fees | Not the most advanced trading platform. Experienced traders may feel limited |
| Easy and accessible investing | |
| A good range of options for day traders |
Merrill Edge
Merrill Edge is a versatile trading platform for various types of investors. This online broker offers investor guidance or complete investor freedom.
You get several different investment accounts available, as well as free trade options.
| PROS | CONS |
|---|---|
| Trading fees are low | Mutual funds offer high fees |
| You get a wide range of investment opportunities | Short-term redemptions fees are charged (not ideal for active day traders) |
| Great analysis tools | High margin rates |
TradeStation
TradeStation is an appealing platform for busy day traders thanks to the very efficient, user-friendly mobile platform. This stockbroker offers low stock and ETF fees with a superior education section.
TradeStation doesn't offer forex and limited deposit and withdrawal options.
| PROS | CONS |
|---|---|
| ETF and stock fees are low | No forex trading available |
| Excellent educational tools | Withdrawal and deposit options |
| A very intuitive mobile platform for easy day trading |
Webull
Webull is one of the best mobile trading apps as this is the focus of this stockbroker.
It offers a completely customizable platform, and they offer full extended hours of trading, which is great for busy day traders.
You can use individual brokerage accounts for asset management and IRA retirement accounts.
| PROS | CONS |
|---|---|
| Free stock, options, and ETF trading | The portfolio for day traders is limited |
| Easy to use and simple to open an account | More suitable for long-term trading |
| An excellent mobile trading platform |
E*TRADE
This platform is a great option for beginners thanks to its simple mobile platform, helpful tools, and informative investor guidance.
The platform offers stocks, preferred stocks, futures contracts, exchange-traded funds, options, mutual funds, and fixed-income investments. There are also superior research tools.
| PROS | CONS |
|---|---|
| Free ETF and stock trading | The platform only trades on US markets |
| Large, versatile selection of investments | |
| Great resources available |
Charles Schwab
Charles Schwab offers a modern approach to investment and retirement through its platform. Their brokerage accounts are versatile and safe.
You get $0 trade commissions, great educational resources for beginners, and excellent tools for active traders.
| PROS | CONS |
|---|---|
| No fees or account minimum | The default cash sweep rate is low |
| There is a large fund selection available | |
| Commission-free ETF options and stock trades |
What is Day Trading?
Day trading is a type of investment style that spans a full day's trading. Investors use online platforms to buy and sell shares throughout the day. The idea is that a day trader’s investment portfolio is empty at the start and that all transactions are closed by the end of the day. Successful day trading offers many benefits, and it can be a very successful venture if done correctly. Usually, day traders use a lot of capital in a single day.
You need a reliable app for optimal stock trading. The platform needs to be fast, efficient, and easy to handle.
Online trading is possible through the use of trading apps. These platforms allow investors to manage their entire investment portfolio from a single interface. These apps provide opportunities to buy and sell directly at real-time prices. You can invest in stocks, forex, commodities, cryptocurrency, and more.
The best mobile trading are fast and flexible. They allow investors to make quick trades and open and close various transactions throughout the day. These day trading platforms should offer many investment options and opportunities.
How To Pick an App for Day Trading
Regulation
You need the app to be well-regulated for a greater level of safety. Regulation is about monitoring the platform, and it also refers to how the app is being regulated according to certain countries and borders.
If a platform is well regulated, it offers better transparency and security. This also makes it more efficient for traders to use.
Available Assets
What can you invest in through the platform? This is an important consideration that should be chosen according to your investment strategy.
Investment assets or options include things like stocks, crypto, forex, ETFs, commodities, and so on. Different platforms have different assets available, so make sure to choose one that works for you.
Device Compatibility
For active traders and busy day trading, mobile trading platforms are ideal. Make sure that the trading app you choose is compatible with your devices for seamless trading on the go.
Fees & Commissions
The fees and commission structures are what will influence the amount of money you can make in a big way. Some platforms have low fees and high commissions. Some have monthly fees and low commissions. This can differ on the assets and funds available.
Make sure to choose a day trading app with fees and commissions most suitable to your investment strategy. Otherwise, this can take up a huge portion of your capital.
Research
Day Trading apps don’t just offer real-time market opportunities, but they should also offer quality research options. This includes market news, investment calendars, trading data and analysis, and so on.
The research will help you to make more informed investment decisions to enhance your strategy. This is also very important for beginner traders.
Education
How much does the app teach you? Are you learning about the market and day trading while you invest? Education tools allow you to make more informed decisions.
Trading apps should be transparent and informative. Education features are very important for beginners.
Account Minimums
Account minimums are important because they may restrict certain traders. Some platforms offer no account minimum, others may have high ones, such as $100.
The account minimum influences how much you can trade, and what you can start with. This is important to know before you choose a platform.
Usability and Functionality
The app should offer a great user experience, and be easy and informative to use. It should also have features that help to make you a more confident investor. Usability and functionality include things like investment alerts and notifications. You should be able to receive price alerts, access watch lists, and order types. The execution speed is also vital, especially for active traders working on real-time prices.
Payment Methods
This includes how you can deposit and withdraw funds to your trading platform. The payment methods are very important for active day traders that make many transactions. Make sure that the options available work with your bank and won’t charge high fees.
Customer Support
Customer support can completely affect your experience of the app. The broker should have 24/7 support that is helpful and easily available. This is particularly important with investment platforms where you have money and risk involved.
Demo Accounts
Some trading platforms allow new users to trial the software with a demo account. This allows you to trade at real market prices using virtual money.
There is no risk involved so it is a great option for beginner investors. Of course, you can't make any money either – but it allows you to learn and get a feel for the platform.
Pros and Cons Of Day Trading Apps
Pros
- You get complete market access: Once you have chosen a brokerage firm and opened your account, you can access the market. You can buy and sell stocks, commodities, crypto, forex, and more. All you need is an internet connection to start trading.
- You can trade anytime, anywhere: Mobile trading platforms allow you to gain market access at any time from anywhere with a connection.
- Unlimited potential: The savvy investor has unlimited room for making profits. If you make the right investment moves, day trading can be a lucrative activity.
- Limited transaction costs: It is not expensive, and you can enjoy low fees and commissions on many of the top platforms.
- Leverage: By using leverage, you get access to higher trading power with limited capital.
- Suitable for everyone: Suitable for experienced investors as well as total beginners. Many mobile platforms offer excellent educational tools and resources to make investing easier to get started with.
- You get complete control: Platforms allow you to take control of your investment decisions and build your investment strategies.
Cons
- Volatility: Markets change rapidly and there is plenty of risks involved. Day traders need to keep a keen eye out at all times and make informed decisions when investing. Otherwise, there is plenty of room for damage.
- Control: Online day traders can access many different markets and investment opportunities. This can make it difficult to maintain control and discipline when trading.
- Some trading apps have limitations: Not all apps allow you to access the same features and markets. Some may restrict you to certain investments, such as forex or stocks only. Make sure that the trading app you choose offers the right spread of tools and investment opportunities to match your strategy.
Risks of Day Trading
While day trading can be a profitable business, it also holds plenty of risks. Beginner day traders need to be prepared for big losses, as this is the reality of this type of investment style.
Unlike traditional long-term investments, where your returns steadily grow over time, day trading can be a bit of a roller coaster.
Yes, there is room for large success, but there is also room to lose capital. Day traders typically work with larger amounts of capital too, which also increases the room for losses.
Conclusion
All things combined, Interactive Brokers is the best day trading app. I recommend it for its reputation, low fees heavy regulation, trading tools, and wide market access. If you are looking for an easy to use CFD day trading app, go with AvaTrade.
