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Written By
James Barra
Written By
James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks.James authors, edits and fact-checks content for a series of investing websites.
» James Barra Profile Page
Updated
Feb 6, 2024
The best brokers for day trading offer low fees, excellent charting platforms, fast execution, access to global markets, support trading with leverage, and provide accessible minimum deposits. They are also trusted. Every brokerage we recommend in this guide meets these criteria.
Top 5 Platforms For Day Trading
We have reviewed over 490 brokers as of (February 2024) and found that these are the 5 best platforms for day trading in Italy. Every day trading broker we evaluated using real money or a test account.
- AvaTrade - AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit.
- Eightcap - Eightcap is great for day traders familiar with MT4 and MT5 and looking to trade forex and CFDs in a secure environment. The brand is also a great pick for crypto traders with 100+ derivatives, a sophisticated market scanner, plus Bitcoin and Tether deposits.
- Deriv.com - Deriv.com will suit day traders looking to make fast-paced trades using CFDs and multipliers with high leverage up to 1:1000. The broker is also the industry leader in synthetic indices, which simulate real market movements and are available around the clock.
- Pepperstone - Pepperstone is a best-in-class broker. Experienced day traders benefit from razor sharp spreads, ultra-fast execution and 1300+ instruments. New traders get user-friendly platforms, rich education materials and 24/7 support.
- XM - XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading.
Best Day Trading Platforms and Brokers in 2024 Comparison
| Broker | Minimum Deposit | Markets | Platforms | Leverage | Visit |
|---|---|---|---|---|---|
| | $100 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting | WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade | 1:30 (Retail) 1:400 (Pro) | Visit |
| | $100 | CFDs, Forex, Stocks, Indices, Commodities, Crypto | MT4, MT5, TradingView | 1:30 | Visit |
| | $5 | CFDs, Multipliers, Forex, Stocks, Indices, Commodities | Deriv Trader, MT5 | 1:1000 | Visit |
| | $0 | CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting | MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade | 1:30 (Retail), 1:500 (Pro) | Visit |
| | $5 | Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures | MT4, MT5 | 1:30 | Visit |
| | $50 | CFDs, Forex, Indices, Commodities | MT4, MT5 | 1:30 | Visit |
| | $100 | CFDs, Forex, Indices, Commodities, Stocks, Crypto | MT4, MT5 | 1:500 | Visit |
| | $0 | CFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, ETFs, Spread Betting | OANDA Trade, MT4, TradingView, AutoChartist | 1:200 | Visit |
| | $20 | Forex, CFDs, Stocks, Indices, Commodities, Crypto | MT4 | 1:1000 | Visit |
| | $0 | Forex, CFDs, Indices, Shares, Commodities, Futures, Bonds, Cryptos (Bahamas Entity Only) | MT4 | 1:500 (entity dependent) | Visit |
| | $50 | CFDs, Forex, Stocks, Indices, ETFs, Smart Portfolios, Commodities, Futures, Crypto, NFTs | eToro Web, CopyTrader, TradingCentral | 1:30 | Visit |
| | $100 | Forex, CFDs, Stocks, Indices, Commodities and Cryptos | Skilling Trader, MT4, cTrader, TradingView | 1:30 (Retail) 1:200 (Pro) | Visit |
| | $100 | CFDs, Forex, Stocks, Indices, Commodities, Futures | FxPro Platform, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade | 1:30 (Retail), 1:500 (Pro), 1:1000 (Via Prime Ash Capital Limited) | Visit |
| | $0 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting | Web, MT4 | 1:30 (Retail), 1:500 (Pro) | Visit |
| | $0 | CFDs, Forex, Indices, Commodities, Crypto | MT4 | 1:500 | Visit |
#1 - AvaTrade
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Review
Why We Chose AvaTrade
AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, alongside a comprehensive education center and multilingual customer support.
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting
- Regulator: ASIC, CySEC, FSCA, ISA, CBol, FSA, FRSA, BVI, ADGM
- Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
- Min. Deposit: $100
- Min. Trade: 0.01 Lots
- Leverage: 1:30 (Retail) 1:400 (Pro)
Pros
- Automated trading is supported through MetaTrader Expert Advisors (EAs), as well as the AvaSocial and DupliTrade tools
- Day traders can access stable spreads and zero commissions with no hidden fees
- WebTrader is well-suited to beginners and features a strong suite of technical analysis tools and market research for day traders
Cons
- It’s a shame that there are no rebate schemes for serious traders looking for additional perks - CMC Markets would be a better choice here
- A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners
- There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders
Visit AvaTrade
#2 - Eightcap
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Review
Why We Chose Eightcap
Eightcap is a forex and CFD broker founded in Australia in 2009. The brand is popular with serious day traders for its raw spreads on 1000+ instruments and advanced MetaTrader platforms. With five global offices and ASIC regulation, Eightcap has built a strong reputation. New traders can also sign up for a live account in just a few minutes.
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, Crypto
- Regulator: FCA, ASIC, CySEC, SCB
- Platforms: MT4, MT5, TradingView
- Min. Deposit: $100
- Min. Trade: 0.01 Lots
- Leverage: 1:30
Pros
- Sophisticated platforms built for short-term strategies, including TradingView which offers 50 drawing tools and 12 chart types
- AI-powered economic calendar with top-level insights, in partnership with Acuity
- 100+ crypto derivatives are available for global clients, which is more than most brokers, including crypto crosses and indices
Cons
- There are several frustrating jurisdictional restrictions - for example, the Crypto Crusher tool is not available for UK or Australian clients
- There are only four commodities available, which may disappoint experienced day traders looking to diversify their portfolios
- The demo account can only be extended upon request
Visit Eightcap
#3 - Deriv.com
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Review
Why We Chose Deriv.com
Deriv.com is a low cost, multi-asset broker with over 2.5 million global clients. With just a $5 minimum deposit, the firm offers CFDs and multipliers, alongside proprietary synthetic products which can't be found elsewhere. Deriv provides both its own in-house charting software and the hugely popular MetaTrader 5.
- Instruments: CFDs, Multipliers, Forex, Stocks, Indices, Commodities
- Regulator: MFSA, LFSA, VFSC, BFSC
- Platforms: Deriv Trader, MT5
- Min. Deposit: $5
- Min. Trade: 0.01 Lots
- Leverage: 1:1000
Pros
- Deriv continues to offer fast and reliable 24/7 support and the WhatsApp service is particularly convenient
- Beginners and experienced day traders can access a good range of 20+ technical indicators in Deriv Trader vs 30+ in MT5
- There's a good range of fast deposit and withdrawal methods with zero payment fees and low minimum deposits
Cons
- The range of 100+ assets trails some competitors such as Quotex which offers 400+
- There are limited copy trading tools and analysis features compared to alternatives like IQ Cent
- There's no loyalty program or rebate scheme for high volume traders
Visit Deriv.com
#4 - Pepperstone
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Review
Why We Chose Pepperstone
Pepperstone is a leading online broker with over 400,000 clients in more than 175 countries. The top-rated brokerage offers excellent market access, industry-leading platforms in MT4, MT5, TradingView and cTrader, plus low fees with no hidden charges. Pepperstone is also heavily regulated with a high trust score, holding licenses with reputable bodies, including the FCA, ASIC, DFSA, and CySEC.
- Instruments: CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
- Regulator: FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
- Platforms: MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
- Min. Deposit: $0
- Min. Trade: 0.01 Lots
- Leverage: 1:30 (Retail), 1:500 (Pro)
Pros
- Competitive Razor account with tight spreads averaging 0.12 pips for EUR/USD
- Excellent suite of automated trading tools including Capitalise.ai, Smart Trader and APIs
- In-depth and frequent webinars covering charting strategies and trading tips
Cons
- Unlike some competitors like AvaTrade, there is no proprietary app offering an all-in-one trading service
- Cryptos are only available for professional clients in some jurisdictions
- The demo account closes after only 30 days, which is a smaller time limit than competitors like XM (60 days)
Visit Pepperstone
#5 - XM
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Review
Why We Chose XM
XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.
- Instruments: Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures
- Regulator: ASIC, CySEC, DFSA, FSC, FSCA
- Platforms: MT4, MT5
- Min. Deposit: $5
- Min. Trade: 0.01 Lots
- Leverage: 1:30
Pros
- Powerful MT4 and MT5 platforms are available with 60+ and 80+ technical charting tools, respectively
- 1000+ instruments are offered including 50+ forex pairs which is higher than average
- Transparent and low fees with spreads from 0.0 pips that will protect day trading profit margins
Cons
- There is weak regulatory oversight through the global entity
- There's $5 inactivity fee after only 3 months, though this won't affect active traders
- PayPal deposits are not supported
Visit XM
How We Rate Day Trading Brokers
Below, we explain the key factors our team consider when comparing day trading platforms.
Trust
Choosing a trustworthy day broker is the most important consideration. This will help protect you from scams and unfair trading practices, while safeguarding your funds.
We only recommend day trading platforms that we trust, an assessment we continuously make by considering the quality of regulatory licenses, the broker’s years in the industry, and their reputation.
You can see which bodies regulate our best brokers below.
| AvaTrade | Eightcap | Deriv.com | Pepperstone | XM | |
|---|---|---|---|---|---|
| Trust Rating | |||||
| Regulators | ASIC, CySEC, FSCA, ISA, CBol, FSA, FRSA, BVI, ADGM | FCA, ASIC, CySEC, SCB | MFSA, LFSA, VFSC, BFSC | FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB | ASIC, CySEC, DFSA, FSC, FSCA |
Fees
Choosing a broker with low fees is critical when you are day trading because a large volume of trades can lead to significant costs, impacting overall profitability.
Our recommended platforms offer low day trading fees, an evaluation we make year-on-year by recording and comparing trading and non-trading fees.
Importantly, we also weigh costs with the quality of the services provided – if you simply pick the broker with the lowest fees, you might compromise on platform features or face hidden costs later.
You can compare the typical fees you will incur at our best brokers below.
| AvaTrade | Eightcap | Deriv.com | Pepperstone | XM | |
|---|---|---|---|---|---|
| Fee Rating | |||||
| EUR/USD Spread | 0.9 | 1.0 | 0.5 | 1.0 | 1.6 |
| Oil Spread | 0.02 | 0.03 | 0.018 | 2.50 | 0.03 |
| Stock Fee | 0.13 | 0.03 (Apple Inc) | 0.07 | 0.02 | 0.002 |
| Inactivity Fee | $50 | $0 | $25 | $0 | $5 |
Platforms
Choosing a broker with a high-quality charting platform is essential for day trading because most intraday traders use technical analysis to identify trading opportunities.
Most brokers offer several platforms to choose from, some will tick the boxes for the average day trader with an intuitive design and user-friendly interface, while others offer more advanced charting packages and analysis tools for the veteran trader.
I recommend using a demo account to make sure the platform works for you.
A demo account will allow you to explore the platform risk-free and assess the broker’s reliability before trading with real money.
James Barra
Author
Our recommend brokers offer top-rate platforms, an assessment we routinely make by testing the software available and evaluating their usability, charting packages and trading tools.
You can compare the platforms and apps available at our best brokers below.
| AvaTrade | Eightcap | Deriv.com | Pepperstone | XM | |
|---|---|---|---|---|---|
| Platform Rating | |||||
| Charting Platforms | WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade | MT4, MT5, TradingView | Deriv Trader, MT5 | MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade | MT4, MT5 |
| Mobile App | iOS & Android | iOS & Android | iOS & Android | iOS, Android & Windows | iOS, Android & Windows |
| Automated Trading | Expert Advisors (EAs) on MetaTrader | Capitalise.ai, Expert Advisors (EAs) on MetaTrader | Expert Advisors (EAs) on MetaTrader, DBots | Expert Advisors (EAs) on MetaTrader, cBots on cTrader | Expert Advisors (EAs) on MetaTrader |
Markets
Choosing a broker that provides trading opportunities on the markets you are interested in is critical, as not every firm offers every asset type.
Our recommended brokers provide access to popular global markets, such as stocks, forex and commodities, something we confirm by signing in to brokers’ platforms to record the assets available.
We also consider the availability of trading vehicles that cater specifically to day traders, such as contracts for difference (CFDs). This derivative allows you to speculate on rising and falling prices without owning the underlying asset.
You can compare the financial markets available at our best brokers below.
| AvaTrade | Eightcap | Deriv.com | Pepperstone | XM | |
|---|---|---|---|---|---|
| Markets Rating | |||||
| Day Trading Markets | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting | CFDs, Forex, Stocks, Indices, Commodities, Crypto | CFDs, Multipliers, Forex, Stocks, Indices, Commodities | CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting | Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures |
Note market access may vary depending on jurisdictional rules.
Order Execution
Choosing a broker with fast execution speeds is crucial for day trading due to the rapid pace of market fluctuations. A delay in order execution could lead to you missing trades or less favorable prices.
Execution quality is also a critical consideration and encompasses factors like speed, price, and the probability of execution, helping to gauge whether you will secure the optimal trade.
Our recommended platforms offer fast and reliable execution, a judgement we make by reviewing execution policies and considering average execution speeds (where data is available).
You can see whether our best brokers meet our execution benchmarks below.
| AvaTrade | Eightcap | Deriv.com | Pepperstone | XM | |
|---|---|---|---|---|---|
| Fast Execution | Yes | Yes | Yes | Yes | Yes |
Leverage & Margin Requirements
Choosing a broker with access to leverage trading is an important consideration for day trading, as it can magnify your profits by enabling control of larger positions with less capital.
However, it also escalates the risk of larger losses, so beginners in particular should be very careful. Effective risk management is crucial, alongside an awareness of your broker’s margin requirements which set the minimum capital you need.
You can compare the leverage available at our best brokers below.
| AvaTrade | Eightcap | Deriv.com | Pepperstone | XM | |
|---|---|---|---|---|---|
| Margin Trading | Yes | Yes | Yes | Yes | Yes |
| Leverage Available | 1:30 (Retail) 1:400 (Pro) | 1:30 | 1:1000 | 1:30 (Retail), 1:500 (Pro) | 1:30 |
Note leverage may vary depending on jurisdictional rules and the market being traded.
Minimum Deposit
Choosing a broker with a low minimum deposit will be particularly important for new day traders on a budget.
Our recommend day trading platforms have achievable entry requirements, an evaluation we make by weighing the minimum investment with the suitability of accounts for different traders, from beginners through to intermediate and advanced traders.
You can compare the account minimums at our best brokers below.
| AvaTrade | Eightcap | Deriv.com | Pepperstone | XM | |
|---|---|---|---|---|---|
| Minimum Deposit | $100 | $100 | $5 | $0 | $5 |
| Minimum Trade | 0.01 Lots | 0.01 Lots | 0.01 Lots | 0.01 Lots | 0.01 Lots |
Methodology
To find the best brokers for day trading we considered quantitative data and qualitative insights gathered during our comprehensive reviews, focusing on 7 criteria:
- We verified that brokers are authorized by a trusted regulator
- We recorded and analyzed the fees you will encounter day trading
- We testedthe suitability of the platform for short-term traders
- We compared the markets available for day trading
- We investigated the speed of order executions
- We determined the level of support for leveraged trading
- We checked the minimum deposit required to start trading
Bottom Line
Choosing a broker for day trading is a personal decision that will depend on your individual needs. However, our selection of top-rated platforms is a great place to start. Our exhaustive evaluation process takes into account the key factors that determine a broker’s suitability for short-term trading.
FAQ
What Is Day Trading?
Day trading is a strategy where individuals buy and sell financial instruments within the same trading day, seeking to profit from short-term price movements.
What Are The Benefits Of Day Trading?
Day trading offers the potential for fast profits as traders take advantage of short-term price fluctuations. Additionally, day traders can operate with reduced overnight risk since they often close positions before the market closes.
What Are The Risks Of Day Trading?
Day trading entails several risks. Firstly, there is the risk of financial loss if you make losing trades because of market volatility and emotional decision-making.
There is also the risk of signing up with fraudulent brokers operating scams, making it important to choose a trusted and regulated day trading broker.
Do I Need A Broker To Day Trade?
Yes, you normally need a broker to day trade. Your broker will provide a platform and the infrastructure to execute intraday trades in financial markets.
What Brokers Do Day Traders Use?
We have ranked the best brokers for day traders. In conducting our comparison, we considered multiple factors, from regulatory credentials and fees to the quality of the platform for intraday trading, the speed of order executions, and the minimum deposit to open an account.
How Do I Open A Day Trading Account?
To open a day trading account you will need to sign up with a broker. You usually need to provide basic contact details and information about your trading experience and source of funds, a process which often takes around 15 minutes.
Most regulated day trading brokers also need to verify your identity and address before you can unlock all trading features.
How Much Money Do I Need To Start Day Trading?
Account minimums vary between day trading platforms. Some require thousands of dollars in return for sophisticated features that cater to advanced traders. Alternatively, many brokers have an accessible minimum deposit of less than $500. Some brokerages even have no minimum deposit.
