Are you looking for a new platform for your trading ventures? Here are 3 of the best day trading software available right now.
New traders make the mistake of using the wrong tools.
What does that mean? They need to use the right day trading software and day trading tools if they want to be successful.
Have you even tried outsourcing with no success?
A skilled trader can make do with fewer tools, while a beginner needs every advantage possible. That means making sure you’re equipped with the best day trading software.
Not sure which one that’ll be? Read on for our top three picks!
What Is Trading Software?
First of all, it might be important to understand what the heck it is. The software can be broken down into four categories:
- Data – know the prices of the stocks you want to trade
- Charting – chart the prices
- Trade execution – enter a trade
- Broker vs independent vendor – in-house systems or third-party applications
Both thinkorswim vs tastyworks are trading platforms created by traders for traders.
They’re both fast, have low commissions costs, world-class technology, and a suite of tools.
Definitely an option.
1. ZuluTrade
This is an online social and copy trading platform. Basically, it allows traders to copy the trades of experienced traders in the forex. It also gives traders the binary options so they can achieve a level of trading.
The good news is that ZuluTrade has a relatively low minimum deposit requirement. Just be aware before signing up that there could be additional costs.
For example, you can be charged an overnight rollover/swap fee. However, the amount will depend on the currency pair you are trading.
The accounts offered are:
- Classic
- Profit sharing
If you’re looking for a simple app to help you get the job done, this is a strong contender.
2. Robinhood
First of all, it has a great name and it’s a free app. It offers stocks, EFTs and cryptocurrency trading.
There is no initial deposit minimum for Robinhood’s standard account. Not only is there zero commissions on in-application trades, but it has implemented a transparent fee structure for their Gold margin accounts.
This app offers free stock trading for both Android and iOS users. Once you sign up for an account, you will need to deposit funds before you can start trading.
What accounts do they offer?
- Standard
- Gold
- Cash
What are the benefits?
- Cost
- No account minimum
- Easy-to-use
- Free bank transfers
- Mobile users
3. TradeStation
This is a leading online brokerage facilitating the trade of stocks, options and futures. So, you better start watching the stock market.
The good news is that TradeStation doesn’t have a range of hidden fees. There are, however, some of the industry standard brokerage and platform fees that you would expect.
What are the benefits of this app?
- Accessibility
- EasyLanguage
- Powerful platform
- Easy-to-use
- Exporting historical data
- Customer support’
TradeStation has rave reviews for being one of the best day trading software!
Bottom Line On The Best Day Trading Software
We know it’s not easy when it comes to finding the right platform for your trading ventures. You want something that will fit your needs.
Make sure the software is also compatible with:
- Market scanning
- Charting
- Portfolio tracking
- Backtesting
We encourage you to visit our business blog. You never know what kind of tips and tricks you’ll find.