Best Online Brokers for Day Trading

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Kane Pepi

In this comparison guide, I reveal some of the best online brokers for day trading available for active traders.

Read on to find a top-rated day trading broker that offers low fees, plenty of supported asset classes, and a strong regulatory framework.

Also consider: Our guide to the Top Forex Brokers in June 2023

Top online brokers for day trading at a glance

Browse the top-rated day trading platforms in June 2023

Within each trading platform review, I discuss the pros and cons of each broker, covering key factors such as trading fees and commissions, supported markets, user-friendliness, regulation, account types, and more.

eToro logo

eToro – Overall best broker for day trading

I would argue that eToro is the overall best online broker for day trading. This is the case for both beginners and experienced traders alike. At eToro, you will have access to thousands of day trading markets across stocks, ETFs, and cryptocurrencies. In terms of stocks, this covers listed companies from the US, as well as the international markets.

This includes exchanges in the UK, Hong Kong, the Netherlands, Germany, and many others. All stocks on eToro can be traded at 0% commission, inclusive of both US and international markets. This is also the case with ETFs (exchange traded funds). I found that eToro is also one of the best online day trading brokers for buying and selling cryptocurrencies.

Alongside Bitcoin, day traders have access to more than 70 altcoins, including but not limited to Ethereum, Dogecoin, BNB, Litecoin, and Uniswap. eToro charges a flat 1% commission on cryptocurrency positions. Day traders will have access to charting tools and technical indicators at eToro, in addition to market sentiment statistics and real-time news.

What I like about eToro

One of the best features I came across when reviewing eToro was its copy trading feature. Put simply, this allows traders to copy the positions of a selected investor. Should the chosen investor buy Apple stock and Bitcoin, for example, the same position will be mirrored in the user’s portfolio, at a proportionate amount.

eToro is also described as a social trading platform, not least because it allows users to share market insights and communicate in a public setting. I also like eToro for its free demo account facility, which is pre-loaded with $100k in paper funds. When making a deposit or withdrawal, US clients will have access to fee-free payments.

Payment options include debit/credit cards, e-wallets like Paypal, and wire transfers. The minimum deposit for US investors is just $10. Finally, eToro is authorized and regulated by the SEC alongside other reputable licensing bodies. This ensures that eToro clients can day trade assets without needing to worry about the safety of their funds.


  • Trade US and international stocks/ETFs at 0% commission
  • Day trade 70+cryptocurrencies at a flat 1% commission
  • Invest passively through the copy trading feature
  • No deposit or withdrawal fees on USD payments
  • Accepts debit/credit cards, e-wallets, and more
  • Authorized and regulated by the SEC


  • US clients cannot access forex, commodities, or indices
interactive brokers logo

Interactive Brokers – Advanced trading suite for day trading online

I found that Interactive Brokers (IBKR) is the best for seasoned pros. Interactive Brokers offers a variety of trading suites that can be accessed online, in addition to desktop software and a mobile app for iOS and Android. Its flagship trading platform – IB Trader Workstation (TWS), has been designed from the ground up for advanced day traders.

TWS offers all of the tools that a day trader needs to successfully outperform the market, inclusive of technical and economic indicators, advanced charting analysis, custom order types, paper trading, risk management, real-time data and news, asset screeners, and more.

This online day trading broker offers access to thousands of financial markets and dozens of asset classes. This includes US and international stocks and ETFs (exchange traded funds), as well as complex derivatives like futures and options. Currencies can also be traded at IBKR, alongside bonds and mutual funds.

What I like about IBKR

When exploring the fee structure at Interactive Brokers, I found that day trading commissions will vary depending on the account type and the respective asset. For example, US clients can buy and sell US-listed stocks and ETFs at 0% commission. However, this is only the case for clients on the IBKR Lite account.

Those on the IBKR Pro account will pay from $0.0005 per share on US-listed stocks, but again, this will depend on the individual plan. Nonetheless, I found that IBKR offers some of the lowest day trading fees in this marketplace, across most of its supported markets. Finally, Interactive Brokers also offers competitive rates for those looking to day trade on margin.


  • Trade thousands of assets from 150 global markets
  • US-listed stocks and ETFs can be traded at 0% commission
  • Low interest rates for margin trading
  • Highly advanced day trading suite for seasoned pros


  • IB Trader Workstation is not suitable for beginners
  • Complicated fee and account structure
TD Ameritrade logo

TD Ameritrade – One of the best mobile apps for day trading online

Day trading requires investors to remain on top of the markets at all times, so having access to a reliable and feature-rich app is paramount. In this regard, I found that one of the top online brokers for day trading on a smartphone device is TD Ameritrade.

This established brokerage offers two proprietary apps, both of which are supported for iOS and Android. Beginners will perhaps find the standard TD Ameritrade app more suitable, as this comes with a straightforward interface with basic order types and access to market data and third-party insights.

What I like about TD Ameritrade

More experienced day traders, however, will likely prefer the thinkorswim® app. Thinkorswim® comes with highly advanced trading tools and charts that can be customized to meet every trader’s needs, alongside support for technical indicators, bespoke order types, and profit/risk management. Thinkorswim® is also accessible via desktop devices.

I also found that TD Ameritrade is a great broker for day-trading in a cost-effective way. Stocks and ETFs listed in the US can be traded commission-free, and options and futures attract a fee of just $0.65 and $2.25 per contract, respectively. Most traders at TD Ameritrade deposit funds via ACH, albeit, wire transfers and checks are supported too.


  • Two proprietary apps for iOS and Android
  • Zero-commission trading on US-listed stocks and ETFs
  • Huge selection of leveraged markets – inclusive of futures and options


  • $6.95 commission to trade non-US listed stocks
  • No-load mutual funds cost up to $74.95 in commission
  • Some analysis tools won’t be suitable for beginners

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eToro logo

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Tradestation logo

TradeStation – High-level day trading tools for technical analysis

I found that TradeStation is one of the best brokers for day trading strategies that have a large focus on technical analysis. This online broker offers three proprietary trading suites across web, desktop, and mobile. All three come with high-level trading tools that support more than 180 technical indicators, each and which can be customized.

TradeStation also enables day traders to perform strategy back-testing, risk-free simulations, and customized entry and exit orders. I also found that TradeStation offers industry-leading execution, with NYSE market orders averaging just 0.038 seconds.

What I like about TradeStation

When it comes to supported markets, I was impressed to see that TradeStation covers most asset classes. This is inclusive of stocks, ETFs, crypto, bonds, and IPOs, alongside futures and options trading. 0% commission trading is available on US-listed stocks and ETFs, while futures and options attract a fee of $1.50 and $0.60 per contract, respectively.

TradeStation offers access to market insights, analyst ratings, and news, but the latter – which is provided by leading research platform Benzinga, comes with a 15-minute delay. Finally, there is no minimum deposit requirement at TradeStation, which may appeal to those on a budget.


  • High-level trading tools including more than 180 technical indicators
  • Back-testing feature supports risk-free strategy building
  • 0% commission on US-listed stocks and ETFs


  • 15-minute delay on market news provided by Benzinga
  • Only supports 11 tradable cryptocurrencies
  • Does not support debit/credit card deposits

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Have you tried eToro?

eToro logo

Your capital is at risk. Investments can go up and down in value, so you could get back less than you put in. Other fees apply. For more information, visit

What is day trading?

Now that I have reviewed the best day trading platforms, I will explain the basics of how this investment scene works.

Put simply, day trading is an investment strategy based on short-term price movements. The overarching concept is that day trading positions will never remain open after the respective market has closed.

This means that day traders enter a position in the hope of closing it at a profit several hours or even minutes later. Naturally, day trading positions yield a much smaller profit (or loss) margin when compared to a more traditional buy-and-hold strategy.

However, day traders will often enter multiple positions in a single trading session. Furthermore, experienced day traders will look to amplify their gains by trading on margin. This means that the trader is effectively borrowing funds from their chosen broker – which increases both the risk and potential rewards.

Day trading is suitable for many different asset classes, whether that’s stocks, crypto, forex, futures, or options. With that said, day traders need access to markets with high levels of liquidity to ensure that buy and sell orders are executed without delay and without unfavorable slippage.

Pattern Day Trading rule

I should also stress the importance of having a firm understanding of the Pattern Day Trader rule. In a nutshell, this rule dictates that US clients must hold at least $25,000 in margin account funding if they are identified as a day trader.

This will be the case if the trader places four or more positions within the span of five working days.

With that being said, the rule will only be triggered if the total value of positions placed during the five-day period amounts to at least 6% of the overall margin balance.

According to the Financial Industry Regulatory Authority (FINRA), pattern day traders are identified as those who trade in and out of a security four or more times in a five-day span, provided the number of trades are more than 6 percent of the trader’s total activity in that same period

Day trading brokers in the US are responsible for complying with this regulatory demand. This means that if the client is identified as a Pattern Day Trader, and they do not hold at least $25,000 in their margin account, the broker will prevent further positions from being placed.

Ultimately, the Pattern Day Trading rule means that this particular strategy is only suitable for those with sufficient levels of capital. Beginners and those on a budget will, therefore, likely be more suitable for a conventional long-term investment strategy.

How to make money from day trading

It is possible to make money from day trading by consistently predicting the future direction of short-term market sentiment, whether that’s stocks, crypto, or any other asset class for that matter.

The core concept is to speculate on whether an asset will rise or fall in value, over the course of the next few hours or even minutes. Unlike traditional investing, day trading is all about making small but frequent gains.

For instance, let’s suppose that a day trader buys Apple stock at 10 am and closes the position at 1 pm, securing gains of 1%. This would represent a successful day trading position, considering the length of time that the trade remained open.

Crucially, day trading is an investment strategy that is largely unsuitable for beginners. The reason for this is that day traders place most of the emphasis on technical information, which requires a high-level understanding of how to read, analyze, and evaluate pricing charts.

This means that day traders will need to have an unparalleled understanding of how to deploy technical and economic indicators, in addition to other analysis tools that will likely intimidate a casual investor that is just starting out.

What broker do most day traders use?

Day traders have access to dozens of online brokers in the US and the chosen provider will ultimately depend on the requirements and preferences of the individual trader.

For example, I found that one of the best brokers for day- trading, from the perspective of beginners, is eToro. The reason for this is that the eToro trading suite is user-friendly and the broker requires a minimum deposit and trade size of just $10.

At the other end of the scale, I found that experienced traders will likely find Interactive Brokers more suitable. As I discussed earlier, they offer an institutional-grade trading suite that comes packed with high-level charting tools, strategy testers, screeners, and more.

Irrespective of the trader’s previous experience, it is imperative to have a firm understanding of what fees the respective day trading broker charges.

Bearing in mind that day traders will typically target small margins, the process will only be worthwhile if the chosen broker offers competitive trading fees. This is why eToro remains popular with day traders, as the platform offers 0% commission trading on stocks and ETFs.

Which broker allows 24-hour trading?

Apart from cryptocurrencies – which trade around the clock on a 24/7 basis, the vast majority of global markets have opening and closing times.

US-listed markets such as the NYSE and NASDAQ, for example, operate between 9:30 am and 4:00 pm (EST), Monday to Friday.

Some online brokers in the US enable after-hours trading, each of which will have its own permitted timeframes.

For example, Robinhood enables traders to enter stock positions until 8 pm, which offers an additional four hours after the markets have closed. TD Ameritrade takes things to the next level by offering 24/5 trading between Sunday and Friday.

However, I should clarify that opening or closing a position before or after the market has opened or closed, respectively, falls outside of a traditional day trading strategy. As noted earlier, day traders will always ensure that positions are closed before the market shuts for the day.

Furthermore, day trading outside of standard market hours comes with additional risks – especially for beginners. For instance, out-of-hour trading attracts significantly less liquidity, so spreads will be wider. This can result in less favorable pricing and larger levels of volatility.

What market is easiest to day trade?

While there is no such thing as an ‘easy’ market to trade, some asset classes are more suitable than others when it comes to day trading.

In this section, I cover the most commonly traded markets that are favored by day traders in 2023.

Day trading stocks

Many day traders focus exclusively on stocks. When trading large-cap stocks on the NYSE and NASDAQ, day traders know with certainty that there will always be sufficient levels of liquidity.

Moreover, most of the online brokers support 0% commission stocks.

This benefit should not be overlooked, considering that day traders generally target small profit margins.

Day trading cryptocurrency

Cryptocurrencies like Bitcoin and Ethereum not only operate in a multi-billion dollar industry, but this marketplace can be accessed 24/7.

Cryptocurrencies are a lot more volatile than stocks, which is arguably both an advantage and disadvantage, depending on the level of experience of the day trader.

I found that one of the best brokers for cryptocurrency day-trading is eToro, with the platform supporting more than 70 cryptocurrencies at competitive fees.

Day trading forex

The foreign exchange (forex) industry is the largest day trading market globally. Currency pairs like EUR/USD and GBP/USD can be traded at hugely competitive spreads and come with unparalleled levels of liquidity.

When day trading major currency pairs, beginners will appreciate the low levels of volatility on offer. Experienced day traders might instead target exotic currency pairs, which attract much more volatile pricing swings.

Day trading commodities

Commodities like gold, silver, natural gas, and oil are also popular with day traders.

Successful day traders in this marketplace will often rely on fundamental data, such as geopolitical events, production and supply statistics, and broader economic conditions.

Day trading indices

Indices are also popular with day traders for their high levels of liquidity and modest pricing swings.

Some of the most traded indices in the day trading marketplace include the S&P 500, Dow Jones, NASDAQ Composite, and FTSE 100.

Which broker is best for trading for beginners?

I found that beginners will perhaps view eToro as the overall best online broker for day trading. US clients can get started with just $10 and eToro supports instant, fee-free deposits via debit/credit cards and e-wallets.

Not to mention that the eToro trading suite is user-friendly and comes packed with useful analysis tools that are suitable for newbies.

Another reason why I found that eToro is the best day trading broker for beginners is that its fee structure is both transparent and easy to understand. For instance, all stocks and ETFs (US and foreign-listed) are commission-free, and crypto can be traded at a flat rate of 1%.

Robinhood is also suitable for beginners, with traders having access to a wide range of 0% commission markets, most of which can be traded from just $1. However, Robinhood requires users to sign up for a gold account ($5 per month) to access some of its core features, which in my view is a slight drawback.

My verdict?

In summary, I have discussed and reviewed the five best online brokers for day trading for June 2023. While the likes of Interactive Brokers and Robinhood are options worth considering, I found that eToro is the overall best day trading broker in the market, especially for active traders.

eToro enables US clients to trade stocks and ETFs at 0% commission, which includes both domestic and international exchanges. eToro is also competitive when it comes to cryptocurrency trading commissions and USD deposits are processed fee-free.


Who is the best day trading online broker?

The best day trading online broker is eToro. Many are turning to eToro for its 0% commission offering on both US and international stocks. eToro offers plenty of charting tools and technical indicators, not to mention a copy trading feature that supports passive investing.

Do you need $25.000 to day trade?

Yes you will need $25.000 to day trade, as US residents will need to meet the Pattern Day Trader rule, which requires a minimum margin account balance of $25.000. This will be the case if the trader places four or more positions during a five-day period and more than 6% of the margin account is being used.

Can you day trade with $500?

Yes, it is possible to day trade with $500 as long as you are not identified as a Pattern Day Trader. This will be the case if you intend on placing four or more positions within five working days. In doing so, the broker will require a minimum margin balance of $25,000, should you wish to continue day trading. 



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