If you’re looking for active trading in the markets, you’ll likely want to pay closer attention to your broker’s trading platform. Compared to investors who hold stocks for long periods and do not need to get the best price every time, active or short-term traders rely on their ability to get a low price. Therefore, finding a broker that offers a leading trading platform can be very important.
Best Online Trading Platforms in January 2024
The best trading platforms for traders provide a way to place orders quickly and easily, track watchlists of stocks and funds, receive alerts for securities that may be interesting trades, and provide tools for analyzing complex options trades and much more. A leading trading platform may also offer live news and even execute trades better, helping you achieve the best possible price.
Charles Schwab
Charles Schwab is an excellent choice for any investor, especially beginner investors, but it is also a good choice for active traders as well. The broker’s basic trading platform can provide you with company financial information, trend analysis, and keep watchlists. With its acquisition of TD Ameritrade, Schwab also gained the prestigious thinkorswim trading platform, which will be the broker’s primary platform going forward, effectively replacing StreetSmart Edge. The thinkorswim platform comes in desktop, web, and mobile versions, offering charts, scanning, live financial news, and much more. In addition, you will receive Schwab’s excellent customer service and a range of other great features.
Cost of trading per share/fund: $0
Cost of trading options: $0.65 per contract
Interactive Brokers
Interactive Brokers has always been popular among active traders, due to their good execution of trades and ability to trade in almost any market. The broker’s mobile platform, GlobalTrader, gets the job done if you just need to make a quick trade, but traders are likely to find the broker’s Trader Workstation platform to be a real workhorse. This comprehensive platform seems capable of doing it all: customizable charts, real-time data, live news, options analysis, and more. Interactive Brokers offers a Pro tier with commission per share and a Lite tier with commission-free trading on stocks and ETFs. No matter which way you choose, you will gain access to its best trading platforms, including the IMPACT mobile app that helps you screen ESG investments, and you will also receive discounts if you trade in large volumes.
Cost of trading per share/fund: $0.005 per share, minimum $1, or free in the Lite tier
Cost of trading options: $0.65 per contract
TradeStation
With volume-based discounts and powerful trading platforms, TradeStation should be on the shortlist of potential brokers for traders. The main desktop application provides a high-quality experience, with built-in charting indicators, over 180 technical and fundamental indicators, the ability to create your own indicators, and decades of historical data to test your strategies. If you don’t need all that power but want a highly capable platform, you can choose the broker’s web platform with real-time quotes, numerous technical studies, watchlists, and much more.
Cost of trading per share/fund: $0
Cost of trading options: $0.60 per contract
E-Trade
Power E-Trade truly lives up to its name, offering a robust set of features for active traders on both the web and mobile versions. The broker’s main trading platform is web-based and offers over 100 technical studies and dozens of drawing tools to help traders analyze the markets. You will be able to plot technical patterns on charts to evaluate the security’s future direction, assess risk and reward in options trades, and search for unusual activity that may lead to attractive opportunities. You will be able to see risk and reward visually on options trades, and the trading platform provides Bloomberg TV live on your device. Additionally, it does not require much options volume to receive a reduced price, which is one of the best rates in the industry.
Cost of trading options:
Trading cost for stock / ETF: $0
Options trading cost: $0.65 per contract, or $0.50 for more than 30 trades in a quarter
Fidelity Investments
Fidelity offers Active Trader Pro, a trading platform that combines a number of tools and other features. You can create stock charts, analyze movement using various technical indicators, place multiple trades at once, and stream Bloomberg TV directly to your desktop. You’ll also get real-time news, earnings reports, and other economic news to keep you updated on the market. Additionally, you’ll have instant access to tools like Real-time Analytics, which provides trading signals when a stock crosses key technical levels, and Trade Armor, which visualizes your trading opportunities. All of this comes in a customizable layout, or you can choose from pre-defined layouts. You’ll also receive helpful and responsive customer service from Fidelity above all else.
Trading cost for stock / ETF: $0
Options trading cost: $0.65 per contract
Merrill Edge
Merrill Edge’s leading trading platform is called MarketPro, which provides many elements that active traders will appreciate. The platform’s dashboard can be highly customized, allowing you to tailor everything to play to your strengths with an easy-to-use interface. Other features include access to Nasdaq Level II quotes, over 100 technical studies to help you analyze trades, and drawing tools that utilize live streaming data. Of course, you can set up trading alerts, create watchlists, and access all of the platform’s core functions. Combine that with the strong research provided by Merrill, and you have a great mix.
Trading cost for stock / ETF: $0
Options trading cost: $0.65 per contract
Lightspeed
Lightspeed is a favorite among active traders, offering a number of trading platforms, although most require a monthly subscription. The broker’s basic web platform is available for free in web and mobile versions, strong in the fundamentals, with customizable watchlists and charts, and technical studies. Those looking to upgrade to a more powerful platform have at least four other options, including Lightspeed Trader, Sterling Trader Pro, and Eze EMS. Each offers live Nasdaq Level II quotes, watchlists, advanced charts, and technical studies. Some platforms include research, customizable order routing, and market scanners to see where activity is. Monthly pricing starts at $130, although the least expensive option (Lightspeed Trader) allows you to offset the subscription cost entirely with at least $130 in commissions in the previous month. True active traders can quickly reduce commission fees through volume-based pricing.
Trading cost for stock / ETF: $0.0045 per share, minimum $1, and volume-based discounts
Options trading cost: $0.60 per contract, minimum $1, and volume-based discounts
Ally Invest
Ally Invest’s trading platform has a lot for active traders to love. You’ll easily be able to keep track of the stocks you’re interested in by creating watchlists and monitoring the profits and losses of your active positions. There are eight different types of charts available, and you’ll get access to 117 technical studies and 36 drawing tools to help you analyze your trading ideas. There’s also a probability calculator that will assess the likelihood of reaching your goals. The mobile app won’t slow you down and will help you keep trading even when you’re on the go. Ally charges no commissions for stock or ETF trades, and the cost of trading options is slightly below the industry standard.
Trading cost for stock / ETF: 0.0045 dollars per share, minimum 1 dollar and volume-based discounts
Trading cost for stocks / ETF: $0
Options trading cost: $0.50 per contract
Tastytrade
Tastytrade is a true broker for traders, which is evident in various ways, including a trading platform available in web, desktop, and mobile versions. You will gain access to hundreds of indicators and charts, in-app research, watchlists, and one of the most interesting features – a live feed tracking a specific group of traders considered tasty. You will be able to see their movements and trade along with them if you wish. The commission structure is also appealing to traders. Of course, commissions on stocks and ETFs are at an industry rate of $0, but the cost for options is $1 for a round trip contract – no additional fees for closing the position – and is capped at $10 per leg per order. So, 20 or 30 or 40 basic contracts will only cost you $10.
Trading cost for stocks / ETF: $0
Options trading cost: $1 for a round trip contract, capped at $10 per leg per order
Conclusion
Although active traders may primarily focus on the broker’s trading platform, that is not the only consideration, of course. Traders should also consider the other value a broker can provide, including fundamental or technical research, costs including volume-based discounts, and equally important, customer support that can assist in resolving any tricky issues along the way.
Source: https://www.aol.com/best-online-trading-platforms-november-041313925.html
}
.lwrp .lwrp-list-item:not(.lwrp-no-posts-message-item){
}
.lwrp .lwrp-list-item img{
max-width: 100%;
height: auto;
object-fit: cover;
aspect-ratio: 1 / 1;
}
.lwrp .lwrp-list-item.lwrp-empty-list-item{
background: initial !important;
}
.lwrp .lwrp-list-item .lwrp-list-link .lwrp-list-link-title-text,
.lwrp .lwrp-list-item .lwrp-list-no-posts-message{
}@media screen and (max-width: 480px) {
.lwrp.link-whisper-related-posts{
}
.lwrp .lwrp-title{
}.lwrp .lwrp-description{
}
.lwrp .lwrp-list-multi-container{
flex-direction: column;
}
.lwrp .lwrp-list-multi-container ul.lwrp-list{
margin-top: 0px;
margin-bottom: 0px;
padding-top: 0px;
padding-bottom: 0px;
}
.lwrp .lwrp-list-double,
.lwrp .lwrp-list-triple{
width: 100%;
}
.lwrp .lwrp-list-row-container{
justify-content: initial;
flex-direction: column;
}
.lwrp .lwrp-list-row-container .lwrp-list-item{
width: 100%;
}
.lwrp .lwrp-list-item:not(.lwrp-no-posts-message-item){
}
.lwrp .lwrp-list-item .lwrp-list-link .lwrp-list-link-title-text,
.lwrp .lwrp-list-item .lwrp-list-no-posts-message{
};
}
اترك تعليقاً