Jessie Moore has been writing professionally for nearly two decades; for the past seven years, she's focused on writing, ghostwriting, and editing in the finance space. She is a Today Show and Publisher's Weekly-featured author who has written or ghostwritten 10+ books on a wide variety of topics, ranging from day trading to unicorns to plant care.
There are plenty of reasons why you might want to branch out into day trading.
First and foremost, there are the income possibilities. But there’s also the lifestyle freedom it can offer — you can day trade from pretty much anywhere.
But day trading success isn’t guaranteed — and it doesn’t happen overnight. To get to where you want to go, you’ll need plenty of experience — and the right day trading tools.
The right software can make a huge difference in your trajectory. But what is the best day trading software? What is the best platform to day trade stocks? And what tools for day traders do you actually need?
In this article, I did the hard work for you. Here, you’ll find careful research on the best day trading software in 2024 so that you can either start up or level up your trading career!
At-a-Glance: Top Day trading tools
- Best platforms for beginners: moomoo and eToro*
- Best platform for advanced traders: TradeStation
- Best day trading computer: Radical X13 EZ Trading Computer
- Best charting for day traders: TradingView
- Best premium day trading tools: Benzinga Pro and Seeking Alpha
- Best ecourse: Investors Underground
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
The Best Day Trading Software, Tools, & Apps
The bottom line: Good news is there are a lot of high-quality day trading tools out there. So, what is the best platform for day trading? Short answer — it depends on a few important factors, experience being the primary one.
If you are just getting started with day trading, the best day trading software would help you cover all your basics. moomoo and eToro are two outstanding options, but moomoo is my overall pick due to its extraordinary usability.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Before You Trade: Essential Day Trading Tools
Before we begin our hunt for the best day trading software, there are some essential day trading tools you really should have…
Computer
As a trader, a great computer is one of the best day trading tools at your disposal.
While some traders are content with a laptop, most serious day traders prefer a desktop computer for speed, versatility, and flexibility.
In the market for a new computer? My suggestion: invest in a Radical X13 EZ Trading Computer, which is hands down one of the best tools for day trading out there. The Intel Core Processor and upgraded RAM is powerful enough to keep up with even the most expert and active day traders.
Education
A little education can save you a lot of heartache when it comes to the high-stakes world of day trading.
Fortunately, you don’t have to go back to college to learn what you need to know.
Programs like Investors Underground cost significantly less than taking one class at a traditional college!
With Investors Underground, you can choose a per-course cost or pay for monthly access. Monthly access to 1000+ video lessons starts at $297/month or you can opt into a course structure that includes the Textbook Trading Course, Tandem Trader Course, Swing Trading Course for $1297 — no prerequisite courses needed!
Looking for a free option? TD Ameritrade offers one of the best free ecourses.
Best Day Trading Software
Let’s take a look at some of the best day trading software…
Day Trading Platforms
Here are some of the best day trading platforms out there…
moomoo – Top Overall Pick
Most don’t have a lot of time to spend learning how to use their chosen day trading tools. That’s why we like online apps that are ultra-user-friendly.
moomoo fits that criterion and is the leading reason I have highlighted it as the overall best software for day trading.
Overall Rating: ⭐️⭐️⭐️⭐️⭐️
Available Assets: 5,000+ Stocks, International Stock, ETFs, Options, Funds, & Futures
Trading Hours: Pre-Market, Market, & After-Market Hours Available
Commissions and Fees (USA Only):
- Commission-free Trading For ETFs, Funds, & Futures
- $0.99 Platform Fee Per Order for Stocks
- $0.65 Commission from $0.65 per Contract for US Stock Options Trading
Account Minimum: $0
What’s great: Beyond the user interface, the fees are minimal, there’s no account minimum, there’s a wide range of assets you can trade, and the trading hours are extensive.
What’s not so great: Though they offer real time stock analysis and have 63 + indicators, the research and analysis tools are limited compared to other platforms.
eToro – Best for Beginners
eToro is special because of its social trading features. The company doesn’t exactly give a template, but through its CopyTrader tool, you can find a “popular investor”, push COPY, and you will mirror their positions in real-time. It’s a great way to expand your portfolio in new directions without spending a ton of time researching.
Overall Rating: ⭐️⭐️⭐️⭐️
Available Assets: Stocks, ETFs, Cryptocurrency
Trading Hours: 24/7 Crypto Trading Hours, 9:30 – 1600 EST for Stocks & ETFs
Commissions and Fees (USA Only):
- No Commission on Stocks and ETFs
- 1% Fee for Buying or Selling Cryptocurrency
- Very Nominal Regulator Fees
Account Minimum: $10
What’s great: The social trading feature definitely sets it apart from other trading platforms. I like the wide range of assets including Crypto and there are no commissions on stocks and ETFs.
What’s not so great: There are spread-based fees on cryptocurrencies.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
TradeStation – Best for Advanced Traders
For more seasoned traders, I suggest TradeStation. With more advanced features and analysis resources, it’s got the day trading tools you need to level up.
Overall Rating: ⭐️⭐️⭐️⭐️
Available Assets: Stocks, ETFs, Options, Futures, and Crypto
Trading Hours: Pre-Market & Market Hours Available
Commissions and Fees:
- (Crypto Only) .35%-.025% Depending on Trading Volume ($2 Minimum)
- Others- $0 Commission
- Small Transaction Fee per Contract (per Side)
Account Minimum: $0
What’s great: I love the customizable chart features, powerful trading tools, and advance order types. For those hoping to look deeper into the nuances in stocks, ETFs, options, futures and bonds behavior, this one is a splendid choice.
They also have a trading simulator you have access to when you open a TradeStation Brokerage or Analytics Software Subscription Account. This day trading tool allows you to invest unlimited “virtual pretend dollars” using real-time data to test your knowledge and day trading skills — an enormous benefit for newbies!
What’s not so great: This one has a much higher learning curve. Outside of the simulator, it’s not ideal for beginners.
TradeZero – Best for Shorting
Interested in trying your hand at shorting stocks? This platform makes it easy.
Overall Rating: ⭐️⭐️⭐️
Available Assets: US Stocks, Options, & ETFs
Trading Hours: Pre-Market, Market, & After-Market Hours Available
Commissions and Fees:
- Commission-Free Trading on Stock Orders Greater Than 200 Shares
- Zero Pro $59/month (Free After 100k Shares)
- Annual Margin Debit Fees 9% + Overnight Borrow Fees (Market Rate)
- $.99 per Transaction Fee
- $5-$15/month per OTC Market Levels 1 & 2
Account minimum: $500
What’s great: TradeZero has the best short side trading tools I’ve seen and also has commission-free trading. The ZeroPro platform has advanced HotKeys, chart indicators, real-time news, alerts, customizable layouts, and more. They provide 6:1 day trading leverage and free limit orders.
What’s not so great: While the platform has access to over 14,000 stocks, it has limited asset options. The only available assets you can trade are stocks, and there is a higher account minimum. Also, if you’re not familiar with shorting, this might be a more complex platform to get started with in the beginning.
Interested in learning more about shorting stocks? Check out our picks for the best broker for short selling.
Charting
Charting is a crucial tool for most day traders to decide when to enter and exit a stock.
Hands down, one platform rises above the rest…
TradingView
I love TradingView because it offers powerful charting features that could be very helpful for beginning traders.
In addition, they have an extensive library of technical indicators and charting tools. I also love the collaboration aspects of this platform, which makes it easy to share, comment, and collaborate with other traders.
Rating: ⭐️⭐️⭐️⭐️
Cost: Free Account | Pro – $14.95, Pro + 29.95, Premium $59.95
What You Get: Real-Time Data, Comprehensive Library of Technical Indicators, Charting Tools
What’s great: This platform has versatile, powerful charting features which accurately analyze stocks. You can save chart layouts, set price alerts, and even customize your alerts and indicators based on strategies. The data is extensive, with 20k data bars on their charts and up to 25 indicators per chart. I also like the active online community and collaboration tools.
The free account shows how the market is doing and is perfect for those beginning their day trading career. I like that there is a free 30-day trial for paid plans to help you decide if the extra features are worth it for you.
What’s not so great: The free plan is extremely limited
Premium Day Trading Tools
So far, we’ve reviewed the best trading software for day traders. Now, let’s go over some premium day trading tools so you can see if they’re worth it.
Benzinga Pro
For those who need premium, real-time news alerts, 1:1 training and help, as well as a wide variety of data and analysis tools, Benzinga Pro is a great option.
Rating: ⭐️⭐️⭐️⭐️⭐
Cost: Free Account, Free Trial for Paid Accounts, then $27/month Basic, $197/month Essential, $497 Options Mentorship
What You Get: Real-time/15 Minute Delay (basic account) News and Alerts, Watchlists, Data and Analysis tools, Optional Mentorship, and Premium Articles (Any Paid Account)
What’s great: I love the powerful news and alert service on this platform. I also love that premium members get extensive data and analysis tools that can make day trading a lot easier. At first glance, $497 can be an offensive sticker price, but if you recall the cost of college tuition, $497 is a very reasonable alternative, especially for 1:1 mentorship and training. Still, you’ll want to do your research on Benzinga Options before diving in.
What’s not so great: With the free and basic accounts, there is a 15-minute delay in the NASDAQ Basic quotes which, for day trading, can make a big impact. I consider the Essentials account price point of $197 a month to be high, especially when starting off.
Seeking Alpha
Another great platform that uses real time news and gives exceptional analysis and stock ideas is Seeking Alpha. One thing that sets this platform apart is its community driven approach, which is great for getting different perspectives on the market.
Rating: ⭐️⭐️⭐️⭐️
Cost: Free Account, Free 7 Day Trial then $99 New Subscriber Year Discount (Normally $239/year)
What You Get: Real-Time/Breaking News, Analysis, Earning Calendar, Portfolio Tracker, Education Tools, and Stock Ideas
What’s great: I really love the community-driven approach. I find it very helpful to get different perspectives on the market, especially for beginner day traders. They have superior research and analysis tools and with a free plan, you can test out this platform.
What’s not so great: The free plan is very limited.
Still not sure about day trading? Consider swing trading or part time investing which allows for longer holding periods and often comes with less risk and higher profits. Want to know more? Learn the difference between trading and investing.
BONUS: News and Alerts For Different Time Horizons
Still learning the market? While these alerts services aren’t necessarily tailored to the fast pace of day trading, they can definitely help you get a handle on how the markets work and what makes stocks “trade-worthy.”
Alpha Picks
Alpha Picks is an excellent source for stock news and analysis. In fact, the only downfall is that it’s better for swing traders than day traders since it features buy-and-hold stock picks every two weeks. But it deserves a mention — especially for new traders — because it offers a great opportunity to get to know the markets.
We’ve written a full Seeking Alpha stock picks review, but here are the highlights:
Rating: ⭐️⭐️⭐️⭐️⭐️
Cost: $499
What You Get: Stock picks, Market Analysis, and Real-Time Trade Alerts
What’s great: If you’re interested in swing trading, this is a very ideal platform for news alerts. Their in-depth market analysis allows day traders to save a lot of time.
They provide stock picks, show and explain market trends, give analyst ratings on assets, and give exclusive investment ideas. Since they put every recommendation through a careful vetting process and they have a success ratio of 73%, day traders can leave a lot of the “heavy lifting” research up to Alpha Picks.
What’s not so great: At a price point of $499, I consider this a pretty steep investment — particularly for beginners. In addition, though there are real time stock alerts, they deliver news on a lag. However, their track record is solid, which makes it worthwhile for some investors.
Motley Fool Stock Advisor
The Motley Fool Stock Advisor is an ideal news and alert service that provides members with monthly stock picks, market analysis, and helpful reports.
Rating: ⭐️⭐️⭐️⭐️
Cost: $199/year Stock Advisor Subscription
What You Get: Monthly Stock Picks, Reports, Market Analysis.
What’s great: The platform gives comprehensive market analysis and has an active community that allows you to pick the brains of other investors.
They have a feature where they highlight two stock picks chosen by professional analysts each month and dive into why they like them. They have two teams working on their Stock Advisor picks: Team Everlasting and Team Rule Breakers.
- Team Everlasting looks for companies with low debt, good corporate culture, solid founders, etc.
- Team Rule Breakers looks for companies that are first movers, have competitive advantages, have strong consumer appeal, etc.
What’s not so great: There are no real time trade alerts. This can be less helpful for actual day-to-day trading. The price point of $199 can be steep for those just starting out.
Final Word:
There really are a lot of great tools for day traders out there. While it really depends on your experience, but I would say, overall, the Best Day Trading Software Award would go to moomoo.
Of course, these are only recommendations. Downloading the software will not make you an instant expert. Stated simply — focus on education first and profits after!
For those looking for an ideal pathway to becoming a day trader, I recommend:
- Check out ecourses on Investors Underground.
- Study the market with alerts like Alpha Picks.
- Test your skills with free day trading software like TradeStation’s simulator.
- Choose a day trading app for beginners such as moomoo or eToro* that can help with basic analytics.
FAQs:
Is it possible to make $100 a day day trading?
Yes, it is possible to make $100 a day day trading. Some traders make much more. Many traders lose. There are no guarantees in the stock market; a strong foundation of knowledge can help you work toward your goals.
What is the best platform for day to day trading?
The best platform for day to day trading depends on the trader’s experience and goals. moomoo is a fantastic platform with some of the best day trading software for beginners due to its simplified user platform; TradeStation is the best for advanced traders due to its sophisticated analytic tools.
Can you make 500 a day day trading?
While it is possible to make $500 a day day trading, it is important to note that this is not a guaranteed amount, and there are many risks involved. A solid understanding of the market, a defined strategy, and a disciplined approach can help you work toward this goal.
How to day trade without $25,000?
In the U.S., traders with under $25,000 are limited to three day trades within a rolling five-day period. While it is possible to bypass this rule in various ways, it’s worth considering that it was put in place to protect inexperienced traders — it may be worthwhile to keep day trades to a minimum until you’re a more established trader!
Where to Invest $1,000 Right Now?
Did you know that stocks rated as "Buy" by the Top Analysts in WallStreetZen's database beat the S&P500 by 98.4% last year?
Our April report reveals the 3 "Strong Buy" stocks that market-beating analysts predict will outperform over the next year.
