Best Overall: TD Ameritrade
TD Ameritrade’s mobile and web platforms are ideal for day traders. The extensive charts and ability to initiate complex orders make this platform perfect for traders in upper skill levels. They also offer educational tools for investors just getting started, making this our Best Overall pick for day trading app.
The facts:
- Founded in 1971, acquired by Charles Schwab in 2020
- Tradable assets: stocks, bonds, mutual funds, ETFs, options, futures, forex, foreign ADRs, IPOs for some accounts.
- Fees: very low. $75 full account transfer fee. $0.65 per options contract.
- Research: extensive calculators, screeners, and news
- What it’s missing: crypto and fractional shares
TD Ameritrade has a comprehensive but low-fee mobile and desktop platform. The variety of assets to trade make it a top-notch broker that you can use for life. Traders of all levels will find something for them on this platform.
Image: TD Ameritrade is our best overall day trading app. Image from tdameritrade.com
Best Low-Cost: Webull
Webull offers the minimalist, simple interface that many users have come to love. With low barriers to entry and next to no learning curve, Webull is great for mid-level investors who want an easy, on-the-go app with no fees.
The facts:
- Founded in 2017
- Tradable assets: stocks, ETFs, options, positions of cryptocurrency, and ADRs
- Fees: None.
- Research: lacking
- What it’s missing: mutual funds, fractional shares, research and charts, education
Overall, Webull is best for investors who want the lowest-cost day trading app out there. Investors will have to get their research and charts elsewhere, however, because Webull does not offer much in that category. Webull also doesn’t have as wide a variety of assets to trade as many other brokers.
Image: The Webull trading platform is sleek and intuitive. Image from webullapp.com
Best for Advanced Traders With Large Portfolios: E*Trade
E*Trade entered the game focusing on day traders with large portfolios. Now, investors with all portfolio sizes can use E*Trade to execute educated day trades. While some of their fees are a little higher, investors gain access to advanced tools and charts, complex orders (such as one-triggers-another), and a variety of assets.
The facts:
- Original company founded in 1982, currently a subsidiary of Morgan Stanley
- Tradable assets: stocks, bonds, mutual funds, ETFs, options, futures
- Fees: low
- Research: extensive
- What it’s missing: crypto and fractional shares
E*Trade has lots of educational tools for beginning investors as well as more advanced tools for seasoned traders. E*Trade is a great app all around, but we recommend it most for experienced investors.
Image: E*Trade has two different mobile platforms—one offers a minimalist, mobile-only interface, and the other is a more powerful tool that pairs with the Power E*Trade platform. Image from us.etrade.com
Best for International Trading: Interactive Brokers
Interactive Brokers offers just about everything an international trader would need out of a broker. You can trade in 125 markets within 33 countries using 22 different currencies. This platform is better for traders working with a large sum of money, because small and inactive accounts incur extra fees.
The facts:
- Original company founded in 1977
- Tradable assets: stocks, fractional shares, bonds, mutual funds, ETFs, options, futures, forex, metals
- Fees: small or inactive accounts are charged fees
- Research: extensive charts and data
- What’s missing: accounts for traders working with smaller amounts of money, crypto
Interactive Brokers is not a good choice for investors who are just starting out or who want to start with lower amounts of money. Instead, investors who want to trade in international markets and have access to top-notch charts and data should use this broker.
Image: Interactive Brokers offers extensive research and trading in international markets. Image from intereactivebrokers.com
Best for Broker Assisted Trades: Zacks Trade
Zacks Trade is similar to Interactive Brokers in many ways. The major difference is that Zacks Trade offers free broker assisted trades over the phone. This platform is not ideal for traders who want to trade with a small amount of money—you need to keep a $2,500 account minimum.
The facts:
- Founded in 1978
- Tradable assets: stocks, fractional shares, bonds, mutual funds, ETFs, options
- Fees: higher than most, need to keep a hefty account minimum
- Research: extensive charts and data
- What’s missing: accounts for traders working with smaller amounts of money, crypto
Zacks Trade could be great for you if you want access to a broker over the phone and are trading with large amounts of money. You’ll also be able to trade in 218 countries, so international trading is top-notch on this platform as well. Zacks Trade is not for inexperienced investors or investors trading with small amounts of money.
Image: Zacks Trade offers all the services that Interactive Brokers does, but Zacks Trade has free live phone calls with brokers. Image from zackstrade.com
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