Best Online Stock Broker For Day Trading

Best Online Stock Broker For Day Trading | CFD Trading

Best Online Stock Broker For Day Trading Comparison Table
Online BrokerMinimum DepositStocks Trading PlatformsFeatures
NoneWeb Trader, Advantage Web & Apps, AT ProLarge Number Of Stocks CFDs
$100MT4, ETX TraderProMT4 Stocks Trading & Large Number On ETX TraderPro
$5MT5MT5 Stocks CFD Trading
$100R TraderLarge Number Of Stocks CFDs on R Trader Web Trader
$100JForexECN Broker With Stocks CFDs
$100Web Trader & AppsStocks Trading On Intuitive Web Trader

Best Online Stock Broker For Day Trading

What is the best broker can depend on a range of factors such as the trading platform offered and type of trading available on these platforms, however in this table are all regulated brokers offering Stocks CFD trading on a range of platforms. When day trading any market, a trader is aiming to trade a market in a short time frame, that is to open and close trades within a trading session. For the stock market the session is defined as the opening hours of the particular stock market being traded. With a CFD the trader can trade a market on a short time frame.

When trading a Stock CFD the trader does not own any Stocks, rather trades with the CFD provider based on the price movement of the Stocks to which the CFD is referenced. CFDs allow leverage (increasing leverage increases risk) and the capacity to go long or short. It might be expected when trading any market that the trader may wish to go long or short given the way the day trading time frame can fluctuate. When day trading the trader is speculating on movement in the price of a market in a short time frame, thus factors such as fundamental data affecting price and technical analysis can come into play.

Some brokers may offer a large number of Stocks CFDs, these are typically available on the trading platform, such as a web trader or downloadable platform. Others may offer Stocks on MT4 and MT5, which are third party platforms. These will tend to be less in number than the large bulk offered by some on their web traders. This said a trader may wish to use a platform supporting automated trading such as MT4, MT5 or JForex. Day trading can evidence complex patterns which a trader may find difficult to cope with day after day, thus they may wish to let robots trade on their behalf, as computer programs do not tire and remain accurate and precise within the parameters of their programming. However the trader may also find that they need to use their discretion as well, as trading robots can create drawdown or losses in the trader's account as they execute trading strategies.

A Stocks CFD trader may wish to focus on a market such as the UK or US market and all these brokers will cover these markets. It should be noted that any broker which reports a large number of CFDs, will typically have a great bulk of these as Stocks CFDs. The number of markets within other categories tends to be limited, but there are many stocks out there. Thus a stocks day trader may choose to specialise in a market or a few stocks, but may also wish to explore others across the world and a CFD broker provides this facility. Brokers will tend to report a maximum leverage as a headline figure, but this will not be for stocks, which will have a lower leverage available.

Search this site