Best Day Trading Platform For Beginners - Updated (2021) (2024)

Best Day Trading Platform For Beginners - Updated (2021) (1)

15 Price Action Patterns Insiders are Using If a hedge fund managers were using 15 specific price action patterns would you want to know?

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Best Day Trading Platform For Beginners - Updated (2021) (2)

If you are looking for thebest day trading platform for beginners, you are in the right place. When choosing the best trading platform for day trading, we need to place a premium weight on reliability, stability, speed, and costs. In this step-by-step trading guide, we’re going to cover these components and more.

At the end of the day, it all comes down to having a trading platform that fits your needs and has lower costs. A single trading platform can’t suit everyone. This is an individual choice that you need to make.

Not every day trader is the same. Some day traders execute their trades manually, while others use automated strategies to generate orders. The ability to monitor the order flow or volume is critical for some day traders.

Day traders often prefer to use proprietary technical indicators. They want to be able to monitor the latest economic data and real-time breaking news. No matter of your trading requirements, the best day trading platforms will allow you to get in and out of your stock position quickly.

With this is mind, we have put a trading guide together for how to pick the best day trading platform for beginners. We’ll also share the best site for day trading.

Best Day Trading Platform For Beginners - Updated (2021) (3)

A decent platform is fast, responsive, and customizable. The best platforms will give you the ability to program hotkeys or even custom buttons. In essence, anything that helps you to get in and out of trades quicker is the most critical factor.

The first step is is to educate ourselves. We’re only going to list the top platforms we have personal experience with.

We can speak about these platforms because we’ve either tested them or have seen or heard of reports from other professional traders.

Without further ado, these are the best day trading platforms for beginners.

Let’s dive right in:

Best Trading Platform for Day Trading: SureTrader

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The first on our list is SureTrader, a powerful online stock trading platform. The first feature we like about SureTrader is their fast order executions and their data feed. Basically they have lightning-fast speeds. This is mandatory if you’re day trading stocks.

As a day trader, we really like to have executions to be instantaneous.

The second feature we like about this platform is customizability. However the downside is that it’s a high learning curve to learn all the ins and outs of this platform. You can even program hotkeys!

Being an offshore company there is no PDT rule, which will allow you to day trade stocks without complying with the minimum equity of $25,000.

For your short-term needs SureTrader seems a good pick.

Best Trading Platform for Day Trading: Tradestation

Best Day Trading Platform For Beginners - Updated (2021) (5)

Our second pick for the best day trading platform for beginners is Tradestation.

Tradestation is a multi-asset, award-winning trading platform. Their trade execution is fast and their data feed is quick. This stock trading platform is modern, intuitive and very easy to use.

All-in-One Tradestation comes with lots of technical indicators that can be customized to suit your trading needs. Besides their desktop and web browser platform they have one of the best day trading apps.

It also has the best stock screener for day trading. This means you can watch up to 1,000 symbols in real time.

Let’s now see our third option we have as day traders.

Best Trading Platform for Day Trading: NinjaTrader

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NinjaTrader is our third best day trading platform for beginners. This charting software has thousands of add-on’s and custom indicators, which makes it ideal for technical analysis. This platform also boasts a strategy analyzer which is great for backtesting.

You can see all your favorite instruments on one screen that allows you to sort them with various criteria. Probably our favorite feature of this trading platform is the real-time performance tracking.

At the end of the day it all comes down to one basic question: What are your personal needs? Everyone that is day trading for a living will have different needs.

Forex traders may need a simple trading platform and order entry system. Especially if they only day trade the major currency pairs.

Note* Make sure you also have a powerful computer or laptop. This will allow you to smoothly run the day trading charting software.

Let’s now dig into what resources you can use as a day trader.

See below:

These sites for day trading are rich in resources and have great tools to help you out in your trading operations. The most important point of my list for the best site for day trading is the usability of the website.

There are only a handful of day trading websites that really provide valuable trading tips, so it’s important not to waste time in the dark parts of the internet.

Without further ado, these are the best sites for day trading on the internet.

Best Site for Day Trading: TradingStrategyGuides.com

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When it comes to trading strategies, our TSG website is rich in free trading strategies that are suitable for all market conditions and any asset classes. If you want to learn trading secrets, unorthodox trading approaches and some trading tips and tricks that are only used by the pros, then you should be reading our blog, which is almost always total gold.

Get your bookmarks ready and add Trading Strategy Guides for your daily infusion of amazing trading strategies.

Best Site for Day Trading: StockCharts.com

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StockChartsis another great website that you need to keep an eye on if you’re day trading the market. Under their Blog Articles section you’ll find many technical analysis researches on your favorite stocks and plenty of insightful trading tips that you can apply right away in your trading process.

The content is pure gold and it’s rarely missing what goes on the stock market.

If there is a big stock mover and if some stock breaks some key technical level for sure you’ll first read about it on Stock Charts. Every tool you need in terms of technical analysis Stock Charts will supply it for you.

Usually Stock Charts is the first place to go for many professional stock traders so you can develop the habit to check them out too.

Best Site for Day Trading: SeekingAlpha.com

Best Day Trading Platform For Beginners - Updated (2021) (9)

Seeking Alpha is the biggest website for stock macro analysis. Right when you land on this website you get bombarded with a ton of value. Here you can choose from top trading articles, news, portfolio headlines and featured authors.

The other market tools we like are the top market gainers and when the latest earnings report comes out. You also get the market performance report which is not too bad to read if you want to stay on top of your trading game.

Another interesting feature we find attractive is that you can customize what type of news you get notified on based on your favorite stock ticker symbol. Make sure you bookmark this stock blog website.

In summary, you should do your own research and make sure the platform you choosecan cater to your specific requirements. Once you figure out your favorite day trading platform you’ll be set to have a much promising start of your trading career.

We just have to make sure we separate the best performing platforms from the not so good ones. Now is not a time for shortcuts. Day trading software that doesn’t work correctly or is flawed can really cost you money.

These technological advancements have afforded us the best of the best. We hope you enjoyed the best day trading platforms for beginners article. If you want to learn more, read our guide on the best day trading stocks.

Thank you for reading!

Feel free to leave any comments below, we do read them all and will respond.

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Best Day Trading Platform For Beginners - Updated (2021) (10)

15 Price Action Patterns Insiders are Using If a hedge fund managers were using 15 specific price action patterns would you want to know?

Best Day Trading Platform For Beginners - Updated (2021) (2024)

FAQs

What is the best platform for trading for beginners? ›

Best Trading Apps in India
  • Zerodha Kite – Best Trading App Overall.
  • Upstox Pro Trading App – Best Trading App For Intraday and F&O Traders.
  • 5 Paisa – Best Trading App for Retail Trading.
  • ICICI Direct – Best Trading Platform for Seasoned Traders.
  • Kotak Securities – Best Trading App For Beginners.
Apr 3, 2024

What platform do most day traders use? ›

Our five best day trading platforms for April 2024
  • Low fees: Robinhood.
  • Stocks and options traders: E*TRADE.
  • Options and futures investors: Tastytrade.
  • Mobile investing: Webull.
  • Active brokers: Interactive Brokers.
Mar 26, 2024

Is $1000 enough to start day trading? ›

You can begin with $1000 , i find that amount good enough if you know how to manage it properly. If you place a volume that is more than you should, then it does not matter how much money you have, you will lose it all.

What is the best beginner trading app? ›

SoFi Invest is our top pick for the best investment app for beginners. SoFi is a low-cost platform with easy-to-use trading features, portfolio management, and a complimentary financial planning session.

What is the most trusted trading platform? ›

Best Online Brokerage Accounts and Trading Platforms of 2024
  • Best Overall: Fidelity.
  • Best for Low Costs: Fidelity.
  • Best for Beginners: Charles Schwab.
  • Best for Advanced Traders: Interactive Brokers.
  • Best for ETFs: Fidelity.
  • Best for Options Trading: tastytrade.
  • Best for International Trading: Interactive Brokers.

What type of trading is easiest for beginners? ›

Overview: Swing trading is an excellent starting point for beginners. It strikes a balance between the fast-paced day trading and long-term investing.

Who is the number one day trader? ›

George Soros - earned $1 billion in 1 day. Of course, George Soros is one of the top Forex traders. Perhaps, he is the best Forex trader in the world, and, for sure, he is the best day trader in the world. Soros was born in 1930 in Hungary.

Who is the most profitable day trader ever? ›

Who is the most successful day trader? There are a lot of successful traders but Jesse Livermore is often regarded as the most successful day trader. His success came from trading on the capital earned by himself and by trading on setups made by himself.

Can you make $200 a day day trading? ›

A common approach for new day traders is to start with a goal of $200 per day and work up to $800-$1000 over time. Small winners are better than home runs because it forces you to stay on your plan and use discipline. Sure, you'll hit a big winner every now and then, but consistency is the real key to day trading.

Can I make $100 a day day trading? ›

You're really probably going to need closer to 4,000 or $5,000 in order to make that $100 a day consistently. And ultimately it's going to be a couple of trades a week where you total $500 a week, so it's going to take a little bit more work.

Can I live off day trading? ›

It is possible, but it is going to take a lot of time and discipline to build a small account into something that can produce a living. If you want to make some money on the side, you'll still need the same dedication, putting in many months to refine a method and overcoming sabotaging tendencies.

What is the safest trading platform for beginners? ›

Motilal Oswal is the ideal platform for trading and wealth management services. It offers several investment options with research-backed calls and investment suggestions, making it suitable for beginners or those wanting to learn more about the market. Key Features: Comprehensive research and advisory services.

Which type of trading is most profitable for beginners? ›

The defining feature of day trading is that traders do not hold positions overnight; instead, they seek to profit from short-term price movements occurring during the trading session.It can be considered one of the most profitable trading methods available to investors.

How much should a beginner start trading with? ›

You can start trading from $10, to $100, $1000, or even more like $15000 and ore. The more to invest, the higher the gains could possibly in your get a return. Forex tends to need high investments to be able to gain a high profit.

How do I start trading as a newbie? ›

Here's how to make your first trade:
  1. Open and fund your live account.
  2. After careful analysis of the market, select your opportunity.
  3. 'Buy' if you think that market's price will rise, or 'sell' if you think it'll fall.
  4. Select your deal size, ie the number of CFD contracts.
  5. Take steps to manage your risk.

Is $500 enough to start trading? ›

Can you start day trading in the US with $500? Yes, there are many trading platforms that allow customers to begin trading with low sums.

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