Day trading is a type of stock trading where you buy and sell securities in short periods of time. Day traders don’t care if the overall market moves up or down. As long as the stock market experiences volatility, a day trader can make money by purchasing assets when they dip in price and sell them off when they rise in value.
Because of the fast-paced nature of the trades, it's important to choose a reliable brokerage so you can really capitalise on the swings a stock experiences. If you're new to day trading, finding the right one could prove to be a little tricky. Fortunately, we've tested dozens of different platforms over the years and have poured that experience into a definitive list of the best day trading apps.
The Best Day Trading Apps We've Tested
Here is our compilation of the top day trading apps that we have tried and tested. Discover which one aligns best with your trading style and needs.
1. Best Overall: Plus500
Futures trading on Plus500 provides access to commodity futures, stock index futures, and currency futures, allowing traders to speculate on future price movements with leverage. The platform offers real-time data, advanced charting tools, and risk management features, but lacks MT4/MT5 integration and automated trading tools that more seasoned traders may find useful.
While the futures market is inherently complex, Plus500 keeps the interface simple and accessible, making it an appealing option for US traders who want exposure to futures contracts -- particular those first setting out or looking for a mobile application to trade from anywhere. Serious futures day traders may prefer a more specialized platform with deeper customization options.
Why We Picked It: Benzinga enjoys how Plus500 helps investors build multi-asset portfolios that can be tasked to save for the future, produce income now or something in between, including its intuitive interface and rich cache of information.
2. Best for Trading Ideas: Public.com
At Public, stock and ETF trades are commission-free, offering $0 commission trading on self-directed individual cash brokerage accounts that trade U.S. listed securities placed online. While trades are free of commissions, other fees may apply, such as regulatory fees, subscription fees, wire transfer fees and paper statement fees. Public also provides users the option to voluntarily tip to support its mission of offering commission-free trades without accepting any payment for order flow (PFOF).
Unlike most online brokers, Public does not participate in payment for order flow on equities trades. PFOF typically involves brokers routing trades to market makers for execution, potentially creating a conflict of interest between the broker and the investor. Public eliminates this conflict by routing all orders directly to exchanges and other execution venues, prioritizing transparency and alignment with its users.
For those looking to expand their portfolios, Public offers access to over 300 select over-the-counter (OTC) stocks, primarily focusing on large-cap international companies. Each stock page on Public includes additional research, data and company-specific analysis, empowering investors to make informed decisions. The platform’s suite of tools is designed to enhance your trading strategies, with features like customizable recurring investments, built-in price alerts and extended-hours trading to provide greater control over your investments.
Public also supports a variety of other investment options, including ETFs, options, bonds and cryptocurrencies, making it a versatile platform for a wide range of investment strategies.
Why We Picked It: Public.com is a unique platform that simplifies investing for a wide range of individuals, making it easier to plan and learn.
3. Best for Active and Global Traders: Interactive Brokers (IBKR)
- Best For:Active and Global TradersVIEW PROS & CONS:Securely through Interactive Brokers’ website
Interactive Brokers has been voted the best online broker by Barron’s for the last 4 years in a row, improving investment automation and services across 4 decades. Clients from over 200 countries can use IBKR to manage their investments, accessing 135 markets in 23 currencies. The technology behind IBKR is so powerful that it supports hedge funds, proprietary trading groups, financial advisors and brokers. The firm provides clients with low execution prices, quality trading services, portfolio management tools, research services and a range of investment products.
Why We Picked It: With a variety of investment options such as stocks, options, futures and forex, you can diversify your portfolio and take advantage of opportunities across different sectors. The IBKR platform is also known for its advanced trading tools, low commissions and efficient order execution.
4. Best for Beginners: Robinhood
Robinhood allows traders to buy and sell stocks without commission charges. In addition to no-fee trading and a $0 minimum deposit, Robinhood also offers an easy-to-use mobile app that's as responsive as it is intuitive.
Robinhood cuts most of the frills that come along with other brokers but it's impossible to beat the app's free trading platform. Users can buy and sell stocks with a few clicks, and the app's mobile-native platform means nothing gets lost in translation from the website to the phone or tablet. New users can even get a free share of a major company, though the actual share they receive is selected at random.
More seasoned stock traders may be put off by Robinhood's lack of resources and analysis tools but for new traders worried about fees and commissions, the app's design and easy-to-use format is a must-see.
Why We Picked It: Robinhood revolutionizes the way people invest by offering no-fee trading and no minimum account balances. With its user-friendly mobile app, you can easily buy and sell stocks, options and cryptocurrencies without worrying about hefty fees cutting into their profits.
5. Best for Novice Traders: moomoo
Moomoo is an intuitive investment and trading platform with a professional set of tools, data and insights. When you sign up with moomoo and open a brokerage account with Moomoo Financial Inc., features include:
- Real-time Level 2 stock and options market data for funded accounts
- Advanced technical indicators and charting tools
- Advanced order types for all investors
- Full extended trading hours from 4 AM to 8 PM EST
- Multi-market quoting
- Low fees, including $0 commission on U.S. Stocks or ETFs and $0 equity options contract fees
You can review the FAQs in the Help Center if you need more information, or you can reach out to the customer support team via email or phone during the trading day.
There are educational tools and professional-grade research tools that complement a community that has 20M+ users worldwide.
Why We Picked It: moomoo provides a competitive APY of 5.1% in their Cash Sweep program for new and qualified customers, with a generous boost to 8.1% for those who meet certain criteria.
6. Best for Long-Term Investors: Magnifi
Magnifi is a marketplace that allows you, as an investor, to use common brokerage tools and AI to make the best decisions for your portfolio. Because you can pull up all the information you need on a given asset, you can easily invest in the assets that will give you the results you deserve and better match your strategy.
Search for the investment options that meet your needs, invest in specific categories or scan for assets in a price range that’s affordable for you.
Best for long-term investors and those who require a bit of client support, you can also learn more about investing from this platform, utilize the AI-powered investing assistant, enjoy commission-free investing, try the mobile app and take advantage of over 15,000 possible investment options. This makes Magnifi a good place to trade for both seasoned and novice traders.
Why We Picked It: Magnifi offers a powerful AI tool that can handle a significant portion of the work for users, making asset searching easier and more efficient than ever before. Alongside this innovative technology, Magnifi provides a wide range of brokerage tools that enhance the trading experience and give you the edge you need in the market.
7. Best for Fast Forex Execution: Axi
The Axi app offers a user-friendly interface that is easy to navigate, making it simple for day traders to execute their trades quickly and efficiently. The app provides real-time market data and news updates, allowing you to stay informed and make informed decisions on trades. The app provides a wide range of trading instruments, including forex, cryptocurrencies, commodities and indices, giving you diverse options to choose from.
Axi offers low latency execution, ensuring that orders are filled at the best available prices without delay. The mobile trading platform is provided by MetaTrader 4. Additionally, it provides access to advanced charting tools and technical analysis features, empowering you to conduct in-depth analysis and make well-informed trading decisions.
Why We Picked It: Axi app is a user-friendly trading platform that offers both demo and real/live account funded programs for traders of all levels. With great search functionality, you can easily find the assets you want to trade.
8. Best for Investors Who Maintain Significant Margin Balances: TradeUP
- Best For:Investors Who Maintain Significant Margin BalancesVIEW PROS & CONS:securely through TradeUP's website
The TradeUP App, provided by TradeUP Securities, Inc., is a cutting-edge mobile trading platform that empowers investors to trade U.S. stocks, ETFs and options without incurring any commission or contract fees.
Additionally, TradeUP boasts an incredibly competitive flat margin interest rate of 1.99%, which remains advantageous, especially in the current high borrowing cost environment where competitors could charge up to 10%.
As a part of their dedication to building a vibrant investor community, TradeUP extends attractive incentives for new investors, friend referrals and account transfers.
TradeUP boasts a user-friendly, multi-platform application that supports not only mobile apps, but also desktop versions (compatible with Windows and Mac download) and a web version. Plus, you can take advantage of:
- The day trade tracker function
- Speedlight order placing on the desktop version
- A full suite of technical analysis tools and drawing tools, a comparison of indicators, etc.
- And free streaming market data
TradeUP Securities, Inc. is a proud member of organizations like FINRA (Financial Industry Regulatory Authority), SIPC (Securities Investor Protection Corporation), OCC (Option Clearing Corporation), NYSE (New York Stock Exchange), CBOE (Chicago Board Options Exchange), and DTCC (Depository Trust & Clearing Corporation), reflecting the platform’s commitment to maintaining the highest standards and adherence to industry regulations.
Why We Picked It: TradeUp offers extremely low margin rates, providing users with the flexibility to manage higher balances and make more strategic investment decisions. Not only does the app offer convenience and accessibility, but it also empowers users with the tools and resources needed to succeed in the world of trading and investing.
9. Best for Active Traders: Webull
Webull, founded in 2017, is a mobile app-based brokerage that features commission-free stock and exchange-traded fund (ETF) trading. It’s regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Webull offers active traders technical indicators, economic calendars, ratings from research agencies, margin trading and short-selling. Webull’s trading platform is designed for intermediate and experienced traders, although beginning traders can also benefit.
Webull is widely considered one of the best Robinhood alternatives.
Why We Picked It: Webull stands out for being well-regulated. With a variety of tools and features available, it offers a comprehensive platform for users to analyze, trade and manage their investments effectively.
10. Best for Advanced Traders: TradeStation
TradeStation’s platform used to only be best for professional traders who needed a highly technical platform. Not anymore.
TradeStation’s TS GO account option offers novice traders access to professional-grade stock screeners and extensive educational and development tools.
TradeStation's feature-rich mobile app syncs to your online account so you can trade stocks, options
You can get:
- Streaming quotes in real time
- Options spread strategies
- In-depth market monitoring
- Mobile price alerts and mobile swing alerts
- Chart analysis with indicators
- Split-second precision
Why We Picked It: TradeStation provides access to a wide range of markets for traders and investors. Its feature-rich mobile app enables you to trade on the go, make informed decisions with real-time market data and analysis and manage your accounts efficiently.
What Do You Need to Start Day Trading?
Put a handful of things in your back pocket before you start day trading. Check out our list.
1. Capital
You’ll need capital in your accounts to buy your 1st set of stocks. Though most brokers with account minimums allow traders to start buying and selling assets with as little as $250, you’ll need more capital to see significant profits once you consider the costs associated with commissions.
Most professional day traders recommend that new users start with a small $1,000 deposit to test your trading strategy — you can always put up more later on if you see success. New day traders should be particularly aware of the SEC’s pattern day trading rule; accounts with less than $25,000 at the end of the day are limited to 3 round-trip trades per 5-day period.
Once you exhaust your 3 round-trip trades a week, your broker must cut off your trading privileges until the next 5-day period begins or you make a deposit into your account to bring your account to $25,000. The pattern day trading rule means that it’s important for low-level day traders to be very selective about what you buy and sell because your accounts are limited.
2. Source for Live Quotes
Unlike long-term investors, day traders buy and sell their stocks quickly. Some traders may even purchase a stock and sell it within
3. Realistic Aspirations
If a day trading course or website claims that stock trading can make you thousands of dollars overnight or that you can follow “simple tricks” to wealth, they’re probably trying to sell you something.
Successful stock trading takes time. Many professional traders confess that it took them over 6 months to begin to see regular profits, as well as countless hours of practice with a dummy account. Have realistic expectations for the amount of money that you’ll earn and don’t be afraid to make mistakes — they’re an important part of the learning journey.
What You Should Look for in a Day Trading App
Ask 100 traders about their favorite feature in a day trading app and you'll likely come away with dozens of different answers. However, the 3 most prevalent are an intuitive layout, low fees/commissions
1. An Intuitive Layout
No matter how well it works or how many cool research tools it offers, the best day trading app in the world is useless if you can’t figure out how to use it. Check out YouTube app tutorials and demonstrations before committing to an app to ensure that you like an app’s look and feel and that its functions are intuitive and quick to execute.
2. Low Fees and Commissions
You’ll probably find your day trading app through your stockbroker — you should already be familiar with the fees and commission schedule. However, if this is your first venture into stock trading, you’ll want to choose an app provider that offers low fees and commissions in order to maximize your trade profits.
Many brokers also offer deep discounts for professional brokers who execute many trades a month.
3. Full Web Functionality
Some brokers severely limit an app’s functionality, encouraging traders to use their desktop versions. Before you commit to an app, make sure that it offers all of the features and functionality of its desktop counterpart.
Choosing the Right Day Trading App
The best day trading apps highlighted in this article offer a range of features and tools to help traders make informed decisions and execute trades quickly and efficiently. Whether you are a beginner or an experienced trader, having access to a reliable day trading app can play a crucial role in your success. From real-time market data to customizable alerts and user-friendly interfaces, these apps have revolutionized the way you can participate in the stock market.
Frequently Asked Questions
How many trades does a day trader average on a daily, weekly and monthly basis?
A day trader averages 5 trades a day, 20 per week and 100 a month.
What is the minimum account value to start day trading?
The average account size is $25,000. But the minimum account requirement differs from broker to broker.
What are the best day trader apps?
You can find Benzinga’s recommendations for the best day trader apps on the list above.
About Sarah Horvath
Sarah is an expert in the insurance, investing for retirement and cryptocurrency space.
