Day trading is a strategy in which a trader buys and sells stocks daily to make small profits that add up over time. You need access to a good day trading platform to succeed at day trading. This blog post will go over some of the best day trading platforms of 2022.
Thinkorswim is our favorite because it’s free and powerful. Loads of day traders use Thinkorswim exclusively for charting, but many improvements have been made that make it a worthy competitor for a trading platform. Their mobile is excellent as well.
DAS Trader Pro might be the most used platform and is recognizable next to Thinkorswim. The speed and low latency of DAS Trader Pro make it an excellent choice for day traders. The only disadvantage is the cost is at least $150/mo to get the data you need to trade. The mobile app leaves a lot to be desired, though.
E-Trade has one of the most intuitive order entry boxes of online broker platforms. Their web app, POWER, is extremely useful as well as their mobile app. You will have the best access at all times with their app.
4. Interactive Brokers (IB)
IB has been around for ages. It shows on their platform. The outdated feel of the platform offsets the great executions you can get with these guys.
TradeZero has been a rising contender for day trading. They are great for day traders looking to short-sell cheap stocks like small caps. They have the best locates for traders with small accounts of any online broker. MIC members can get a discount here. Their platform is very buggy, though. Many traders complain about servers going down every month. If you have a small account, this is probably a pill you will have to swallow. This is likely where you will end up trading.
Fidelity has been making real improvements since 2019, and it shows. They don’t cater to the short side of trading, though, so we had to score lower on our list of platforms.
TradeStation services the quant traders. We had to include it because they provide the best access to historical data at the lowest cost. We would not day trade on their platform, though. It can take a heavy toll on your computer’s CPU.
There are a lot of different day trading platforms out there, and it can be challenging to choose the right one for you. In this blog post, we went over some of the best day trading platforms of 2022 so that you can make an informed decision about which platform is right for you.