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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 Israel. 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.
- 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.
- IC Markets - IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders.
- DNA Markets - DNA Markets is an excellent choice for short-term traders familiar with the MetaTrader platforms. The smooth sign-up process also makes it easy to get started while the $100 minimum deposit is accessible. That said, DNA Markets trails the top brokers in education, research and mobile trading.
- InstaForex - InstaForex maintains its position as a top forex broker, with more currency products than most rivals. The tight spreads and low minimum deposits make it accessible to all experience levels, especially those familiar with the MT4 and MT5 platforms.
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 |
| | $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 |
| | $200 | CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto | MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) | Visit |
| | $100 | CFDs, Forex, Indices, Commodities, Stocks, Crypto | MT4, MT5 | 1:500 | Visit |
| | $1 | Currencies, Cryptocurrencies, Stocks, Indices, Metals, Oil and Gas, Commodity Futures and InstaFutures | MT4, MT5 | 1:1000 | 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 | - | Visit |
| | $100 | Forex, CFDs, Stocks, Indices, Commodities and Cryptos | Skilling Trader, MT4, cTrader, TradingView | 1:500 | Visit |
| | $10 | Digital Options on Stocks, Indices, Forex, Commodities, Cryptos | Web Platform, Mobile App | - | Visit |
| | $10 | CFDs, Forex, Stocks, Indices, Commodities, Crypto | BDSwiss Webtrader, MT4, MT5 | 1:30 | 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, Indices, Commodities, Crypto | MT4 | 1:500 | Visit |
| | $100 | CFDs on Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto | WebTrader, App | 1:30 | 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
- The broker offers reliable 24/5 multilingual customer support with fast response times during testing
- There's a great range of fee-free deposit methods, including bank wire, credit cards and popular e-wallets like Skrill
- Automated trading is supported through MetaTrader Expert Advisors (EAs), as well as the AvaSocial and DupliTrade tools
Cons
- There is no ECN account with raw spreads
- 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 - 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
- Excellent suite of automated trading tools including Capitalise.ai, Smart Trader and APIs
- In-depth and frequent webinars covering charting strategies and trading tips
- Advanced charting tools are available across all platforms, including dozens of customizable indicators
Cons
- The demo account closes after only 30 days, which is a smaller time limit than competitors like XM (60 days)
- Traders from the US are not accepted
- It took us longer to sign up than at many alternatives
Visit Pepperstone
#3 - IC Markets
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Review
Why We Chose IC Markets
IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
- Regulator: ASIC, CySEC, FSA
- Platforms: MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
- Min. Deposit: $200
- Min. Trade: 0.01 Lots
- Leverage: 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
Pros
- IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
- IC Markets offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for day traders.
- As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
Cons
- The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
- While IC Markets offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes.
- Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
Visit IC Markets
#4 - DNA Markets
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Review
Why We Chose DNA Markets
DNA Markets is a forex and CFD broker established in 2020. The broker operates two entities in Australia and the offshore jurisdiction, St Vincent and the Grenadines. Traders can access 250+ markets, with a Standard account for beginners and a Raw account for experienced traders. The reliable MetaTrader 4 and MetaTrader 5 platforms are available, alongside Signal Start.
- Instruments: CFDs, Forex, Indices, Commodities, Stocks, Crypto
- Regulator: ASIC
- Platforms: MT4, MT5
- Min. Deposit: $100
- Min. Trade: 0.01 Lots
- Leverage: 1:500
Pros
- Convenient account funding with 7 base currencies, a $100 deposit and a wide range of payment methods
- 24/5 customer support with response times of <2 minutes during testing
- Low trading fees with spreads from 0.0 pips in the Raw account and zero non-trading fees
Cons
- Despite access to MT4 and MT5, there is no proprietary trading app
- The investment offering trails alternatives, especially in terms of stocks, cryptos and commodities
- Although it continues to strengthen its client base and reputation DNA Markets lacks the track record of top brokers like Vantage
Visit DNA Markets
#5 - InstaForex
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Review
Why We Chose InstaForex
InstaForex is a forex and CFD broker founded in 2007. The broker offers diverse market coverage to over 7 million clients, spanning traditional assets like currencies and shares, as well as other interesting opportunities such as IPOs. Traders can also access copy trading services, PAMM accounts and investment opportunities. InstaForex is regulated by the BVI FSC and CySEC.
- Instruments: Currencies, Cryptocurrencies, Stocks, Indices, Metals, Oil and Gas, Commodity Futures and InstaFutures
- Regulator: BVI FSC
- Platforms: MT4, MT5
- Min. Deposit: $1
- Min. Trade: 0.10 of the lot (0.0001 of market lot for Cent.Standard and Cent.Eurica)
- Leverage: 1:1000
Pros
- There’s a copy trading service available with just a $10 minimum deposit, allowing clients to become both followers and providers
- InstaForex has a strong industry reputation, with a 15+ year history and serving over 7 million clients
- There’s a decent range of free and fast payment methods including local bank transfers, bank cards, e-wallets and cryptos
Cons
- The broker’s website and client cabinet feel outdated and difficult to navigate for newcomers
- The broker’s global branch offers weaker regulation via the offshore jurisdiction of the British Virgin Islands, which means non-EU traders will receive limited safeguards
- Market coverage and account conditions vary significantly between the global and EU entities - for example, only 300+ instruments are available for global clients, whilst European traders can access 2500+
Visit InstaForex
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 | Pepperstone | IC Markets | DNA Markets | InstaForex | |
|---|---|---|---|---|---|
| Trust Rating | |||||
| Regulators | ASIC, CySEC, FSCA, ISA, CBol, FSA, FRSA, BVI, ADGM | FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB | ASIC, CySEC, FSA | ASIC | BVI FSC |
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 | Pepperstone | IC Markets | DNA Markets | InstaForex | |
|---|---|---|---|---|---|
| Fee Rating | |||||
| EUR/USD Spread | 0.9 | 1.0 | 0.02 | 1.0 | Av. Floating 0.2 |
| Oil Spread | 0.02 | 2.50 | 0.03 | 1.5 | Fixed |
| Stock Fee | 0.13 | 0.02 | 0.02 | 1.0 cent + $0.02 per share, per side (Apple) | Commissions as low as 0.1% |
| Inactivity Fee | $50 | $0 | $0 | $0 |
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 | Pepperstone | IC Markets | DNA Markets | InstaForex | |
|---|---|---|---|---|---|
| Platform Rating | |||||
| Charting Platforms | WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade | MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade | MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade | MT4, MT5 | MT4, MT5 |
| Mobile App | iOS & Android | iOS, Android & Windows | iOS & Android | iOS & Android | iOS and Android + browser based platform |
| Automated Trading | Expert Advisors (EAs) on MetaTrader | Expert Advisors (EAs) on MetaTrader, cBots on cTrader | Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade | Expert Advisors (EAs) on MetaTrader | Yes |
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 | Pepperstone | IC Markets | DNA Markets | InstaForex | |
|---|---|---|---|---|---|
| Markets Rating | |||||
| Day Trading Markets | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting | CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting | CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto | CFDs, Forex, Indices, Commodities, Stocks, Crypto | Currencies, Cryptocurrencies, Stocks, Indices, Metals, Oil and Gas, Commodity Futures and InstaFutures |
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 | Pepperstone | IC Markets | DNA Markets | InstaForex | |
|---|---|---|---|---|---|
| Fast Execution | Yes | Yes | Yes | No | No |
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 | Pepperstone | IC Markets | DNA Markets | InstaForex | |
|---|---|---|---|---|---|
| Margin Trading | Yes | Yes | Yes | Yes | Yes |
| Leverage Available | 1:30 (Retail) 1:400 (Pro) | 1:30 (Retail), 1:500 (Pro) | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) | 1:500 | 1:1000 |
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 | Pepperstone | IC Markets | DNA Markets | InstaForex | |
|---|---|---|---|---|---|
| Minimum Deposit | $100 | $0 | $200 | $100 | $1 |
| Minimum Trade | 0.01 Lots | 0.01 Lots | 0.01 Lots | 0.01 Lots | 0.10 of the lot (0.0001 of market lot for Cent.Standard and Cent.Eurica) |
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.
