Whether you’re an experienced trader looking to take your strategy to the next level or just starting out, choosing the right platform for day trading is crucial. The best platforms offer the features and capabilities that most day traders need, including advanced charting, automated trade execution, and high-speed trading speeds. In addition, many offer “play money” mode so you can practice your skills before investing real cash.
Serious day platform for day trading for a platform that offers a robust selection of assets, the ability to both trade and chart them, and a variety of automation and backtesting tools. Traders also value low costs, customer service, and fast order execution.
IBKR’s Trader Workstation (TWS) has long been the go-to platform for serious day traders because it’s fast and reliable, with deep market liquidity and low trading fees. TWS also enables you to set up custom views of your watchlists, charts, and orders as “tiles” that can be sized and positioned to suit the screen layout on one or more monitors. Moreover, you can easily keep tabs on your positions, profit and loss, trade activity, and margin requirements.
Choosing the Right Platform for Day Trading: Factors to Consider for Successful Trades
TD Ameritrade’s Thinkorswim platform is another top choice for serious day traders because of its advanced charting, powerful technical analysis, and fast execution speed. Plus, you get access to a wide range of educational resources and market news. You can also use the brokerage’s robo-advisor to automate your trading. In terms of trading fees, TD Ameritrade offers commission-free U.S. stock and ETF trading, and a free robo-advisor called AutoTrader to help you get started. IG’s platform is also popular among day traders because it allows them to trade CFDs and spread betting on 18,000 global markets. Plus, you can access live prices and quotes in US dollars and euros.