Day trading is a type of stock trading where you buy and sell securities in short periods of time. Day traders don’t care if the overall market moves up or down. As long as the stock market experiences volatility, a day trader can make money by purchasing assets when they dip in price and sell them off when they rise in value.
Learn more about day trading and find the best day trading apps with our guide.
Best Day Trading Apps
- Best for Mobile Apps: TD Ameritrade
- Best for Execution: E*TRADE
- Best for Beginners: Robinhood
- Best for Tracking Account Positions: Fidelity
- Best for All-in-1 Solution: Charles Schwab
- Best for Active Traders: TradeStation
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Many day traders value the freedom that comes along with their profession but being stuck at a computer for hours on end can be limiting. With the spread of smartphones, a number of day trading apps have popped up to help execute on-the-go trades from the world’s most prominent brokers.
We’ve rounded up some of the best day trading apps currently available for iPhone and Android, along with some additional tips and tricks to help get you started.
What Do You Need to Start Day Trading?
Put a handful of things in your back pocket before you start trading. Check out our list.
You’ll need capital in your accounts to buy your 1st set of stocks. Though most brokers with account minimums allow traders to start buying and selling assets with as little as $250, you’ll need more capital to see significant profits once you consider the costs associated with commissions.
Most professional day traders recommend that new users start with a small $1,000 deposit to test your trading strategy — you can always put up more later on if you see success. New day traders should be particularly aware of the SEC’s pattern day trading rule; accounts with less than $25,000 at the end of the day are limited to 3 round-trip trades per 5-day period.
Once you exhaust your 3 round-trip trades a week, your broker must cut off your trading privileges until the next 5-day period begins or you make a deposit into your account to bring your account to $25,000. The pattern day trading rule means that it’s important for low-level day traders to be very selective about what you buy and sell because your accounts are limited.
2. A Source for Live Quotes
Unlike long-term investors, day traders buy and sell their stocks quickly. Some traders may even purchase a stock and sell it within
3. Realistic Aspirations
If a day trading course or website claims that stock trading can make you thousands of dollars overnight or that you can follow “simple tricks” to wealth, they’re probably trying to sell you something.
Successful stock trading takes time. Many professional traders confess that it took them over 6 months to begin to see regular profits, as well as countless hours of practice with a dummy account. Have realistic expectations for the amount of money that you’ll earn and don’t be afraid to make mistakes — they’re an important part of the learning journey.
What You Should Look for in a Day Trading App
Ask 100 traders about their favorite feature in a day trading app and you’ll likely come away with dozens of different answers. However, the 3 most prevalent are an intuitive layout, low fees/commissions
1. An Intuitive Layout
No matter how well it works or how many cool research tools it offers, the best day trading app in the world is useless if you can’t figure out how to use it. Check out YouTube app tutorials and demonstrations before committing to an app to ensure that you like an app’s look and feel and that its functions are intuitive and quick to execute.
2. Low Fees and Commissions
You’ll probably find your day trading app through your stockbroker — you should already be familiar with the fees and commission schedule. However, if this is your first venture into stock trading, you’ll want to choose an app provider that offers low fees and commissions in order to maximize your trade profits.
Many brokers also offer deep discounts for professional brokers who execute many trades a month. Want to learn more about low-commission stockbrokers? Check out our guide to find the right choice for you.
3. Full Web Functionality
Some brokers severely limit an app’s functionality, encouraging traders to use their desktop versions. Before you commit to an app, make sure that it offers all of the features and functionality of its desktop counterpart.
The Best Day Trading Apps
Based on the criteria above, we compiled the best day trading apps of the year.
1. Best for Mobile Apps: TD Ameritrade
TD Ameritrade offers both iPhone and Android apps for enhanced day trading. TD Ameritrade Mobile lets you trade stocks, options, futures
You can manage your positions with helpful tools and features, including more than 300 technical charts and indicators.
24/5 trading lets you trade select securities 24 hours a day, 5 days a week. You can expand your list of securities to international markets and specific sectors.
TDAmeritrade also offers the TD Ameritrade Mobile App, a powerful mobile trading app compatible across all your smart devices. You can track your investments, trade stocks, ETFs
2. Best for Execution: E*TRADE
E*TRADE is 1 of the world’s most well-known pioneers in the world of online trading. E*TRADE is also largely considered to be 1 of the 1st companies to move day trading away from Wall Street and into the hands of everyday consumers.
E*TRADE’s award-winning Mobile app lets you invest in stocks, ETFs, mutual funds and options. You can manage cash with Transfer Money, check deposit and Bill Pay.
E*TRADE’s Power E*TRADE app is built with easy-to-use tools and features. You can execute trades for stocks, ETFs, options
3. Best for Beginners: Robinhood
Robinhood allows traders to buy and sell stocks without commission charges. In addition to no-fee trading and a $0 minimum deposit, Robinhood also offers an easy-to-use mobile app that’s as responsive as it is intuitive.
Robinhood cuts most of the frills that come along with other brokers but it’s impossible to beat the app’s free trading platform. Users can buy and sell stocks with a few clicks, and the app’s mobile-native platform means nothing gets lost in translation from the website to the phone or tablet. New users can even get a free share of a major company, though the actual share they receive is selected at random.
More seasoned stock traders may be put off by Robinhood’s lack of resources and analysis tools but for new traders worried about fees and commissions, the app’s design and easy-to-use format is a must-see.
4. Best for Tracking Account Positions: Fidelity
Fidelity’s impressive app mimics the broker’s full website, offering stock,
Manage your portfolio and watchlists, research and trade stocks, ETFs, options and more. You can get news, videos, real-time quotes, advanced charting and a personalized feed.
Take advantage of this dynamic experience with timely and relevant portfolio, market
- Balances and watch lists
- Real-time quotes without having to log in
- Option chain enhancements
- Multi-leg option trading
- Trading of specific shares for stocks or ETFs
- Tax lots for your positions
- Margin trade options in your IRA
5. Best for All-in-1 Solution: Charles Schwab
If you’re looking for an all-in-1 solution to handle both banking and trading, there’s no better option than Schwab Mobile. You can manage your Schwab banking accounts and trading from a single platform.
Use your finger, Face ID or preset passcode to check your portfolio balance, deposit checks and trade — all in 1 fell swoop.
Check your positions at a glance from anywhere. Trade stocks, ETFs, mutual funds
6. Best for Active Traders: TradeStation
TradeStation’s platform used to only be best for professional traders who needed a highly technical platform. Not anymore.
TradeStation’s TS GO account option offers novice traders access to professional-grade stock screeners and extensive educational and development tools.
TradeStation’s feature-rich mobile app syncs to your online account so you can trade stocks, options
You can get:
- Streaming quotes in real time
- Options spread strategies
- In-depth market monitoring
- Mobile price alerts and mobile swing alerts
- Chart analysis with indicators
- Split-second precision
Find a Day Trading App Today
Many traders are drawn to day trading by the possibility of earning huge payouts, but with the possibility of reward comes proportionate risks.
Traders can minimize risks by learning as much as possible about the market and order execution before you begin trading using real money. Check out 1 of our favorite low-cost courses on trading to get started.