Brokers

online broker
online broker

What is a Stock Broker?

A stock broker is a financial firm that facilitates buying and selling transactions for investor clients, institutions and or for the firm. All financial market transactions have to be executed through a broker.

A broker is responsible for facilitating all stock trades you place. Most brokers allow users to sign up through online applications. Brokers charge commissions for their services. The type of broker will determine how expensive and how the commissions are structured. For Day Traders, you will focus on online Discounted Brokers.

Choosing a Day Trading Broker

Choosing which day trading broker to use is an important part of becoming a stock trader. There is not a specific company out there that is the "best day trading broker." The broker you choose should be relative to your needs as a trader. If you plan on short selling stocks, you will want to find a broker that has a good short list. If you plan on scaling in and out of position, you may want to choose an online broker that has per-share pricing.

Before rushing into choosing an online broker, make sure you know what your needs are. Focus on your trading strategy and find a broker that will help you meet your goals. Below are a few of the different types of brokers that are good for Day Traders


 

TDAmeritradetdameritrade

  • Free Commission on Stock Trades
  • Free platform and data feed
  • No Software Fees!
  • Mac compatible
  • Commission Free for 60 Days
  • Compatible with EquityFeed

Open Tradestation account


TradeStation

Tradestation

  • $5 Per Trade
  • Optional Per Share Trades (Good for New Traders and Small size)
  • No Software Fees!
  • Options, Futures, Mutual Funds and Bonds available
  • Mobile, Web Browser, and Desktop Application

Open Tradestation account


 

Speed Trader

Speedtrader

  • $4.49 Per Trade or $.0044 per Share
  • Advanced Level-2 Trading Platforms & Software
  • Software Fees: Between $25-$104/mo
  • Direct Access Trading Technology
  • Free 14-Day Virtual Paper Trading Account
  • Get $100 Credit when opening a new account

Open Tradestation account


SureTrader

suretrader

  • Start Trading Stocks & Options with only $500
  • No Pattern Day Trading Restrictions
  • $4.95 Per-Trade + 6:1 Leverage
  • Largest Short-List with over 10,000 symbols

Open Tradestation account


Interactive Brokers

Interactive Brokers

  • Per share broker starting at .0035 per share for Tierd
  • Free Trader Workstation Platforms & Software (Mac Compatible)
  • Great for Short Selling
  • Free Trading Simulator Account
  • Minimum $10k Deposit (Just to open, not to maintain)

tradeking

TradeKing

  • $4.95 Per Trade
  • 65¢ Options (+ $4.95 Base)
  • #1 in Customer Service by SmartMoney
  • $100 in Free Trade Commission with $1 Deposit
  • $500 in Free Trade Commission with $500 Deposit
  • $1k in Free Trade Commission with $5k Deposit

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