4 Responses to “Best online broker to day trade with ?”
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It is going to depend on how often you trade which broker is best for you and how much you have to play with. I like Interactive Brokers.
Google “online stock brokers” and a lot of information will come up. You will need to sift through a lot of data.
Fees to me are the key to online brokers. Evaluate fees for all of the brokers. Some brokers offer $1 trades but have inactivity fees and market data fees. I have seen IRA fees, statement fees, odd lot fees, exchange fees, withdrawal fees. I am sure that there are some fees I missed here. If you see one please leave a message. Fees will eat your profits alive.
Best is trade king, but in day trading nobody actually makes any money so I’d advise you not to do it. People do double their money while day trading some months but by year they are usually losing about 10%, and those are the impressive ones. Just take warning that you will lose most of your speculative money. I have been in the speculation boat, and I doubled my money then lost it all. If you want to invest in long-term gains, read the intelligent investor so you can think about the value of the business rather than the misleading numbers on the screen. I really hope you listen, because 99% of day traders are unsuccessful, and the rest are lucky. Value investing teaches you to find undervalued companies that make a lot of money compared to their price, and have quality managers. Those companies over time make you about 13% a year if you are pretty good at finding them, whereas if you day trade you are almost guaranteed to lose at least 10%
Im going with ingdirect.com if you set up an automatic investment each month each trade for commission is only $4 cheapest i’ve seen so far and i talkd to them today and they said they have no hidden fees other than commission unless you sign up for a different plan then the basic one they have for free
OptionsXpress is the fastest broker with some powerful free software.
If you use this link they mail you a free book for opening an account.
http://bit.ly/optionsxpress