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Top Trading Platforms for Investing & Trading Stocks

What trading platforms do we use and recommend?
Top Trading Platforms

I Love Making Money Staff & writers

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If you actively trade stocks, you need a good platform to handle your trading. You should look for platforms with low commissions, adequate tools, and plenty of research options and a good reputation for executing trades.

In order to day trade, you must have a minimum account balance of $25,000 and meet specific margin requirements. According to the SEC, a day trader is someone that makes at least four ‘day trades’ in a five-day period. But you can still make trades to build up to the $25,000 mark.

The Worst Stock Trading Platform to Avoid

Robinhood is by far the worst trading platform. I’ve counted three times that the stock market has dropped to a low point which should give traders a huge advantage in placing good trades.

Robinhood has crashed three times. So let’s avoid Robinhood altogether and focus on the best trading platforms out there.

Questrade

If you live in Canada, this is one of the best platforms outside of the USA since $0 trade is not a thing in Canada. Most Canadians love the stand-alone system for both computer & smart phone.

And they charge different commission amounts depending on your trading style. Is Questrade a good idea?

Questrade is a great broker for active traders who want to reduce their commission costs. Long-term investors, with more than $5,000 CAD in their account, also benefit from low commissions as well as access to no-cost-to-buy ETFs and managed portfolios with low yearly fees.

TD Ameritrade’s Stock Trading Platform is Called ThinkorSwim

TD Ameritrade’s platform, thinkorswim, is great for the active investor. It offers an exceptional array of research and tools meant for active investors just like you. If you’re new to trading, I recommend starting with THIS platform and using their paper trading simulator. That way – you practice, get good at it before you dive in with real money.

Features:

  • Practice trading with ‘virtual money’ before diving in
  • $0 commissions on online stock, ETF, and options trades
  • 24/5 trading, which allows you to trade stocks 24 hours a day five days a week
  • Get access to advanced trading tools
  • Get access to more than 400 technical studies
  • Large selection of investment options

E*TRADE

E*TRADE is one of the longest standing online brokers. Great for those just starting in day trading as well as experienced investors, E*TRADE offers a fast system that’s easy to use. If you start to daytrade, please contact your local E*Trade rep who can release any restrictions on your account.

Click Here to View the e*trade’s cash bonuses when you open an open.

Features:

  • $0 commissions on stocks, ETFs, and options
  • A wide range of options including stocks, ETFs, options, futures, and mutual funds
  • Exceptional charting tools that provide technical analysis
  • Risk analysis tools that help you make fast decisions
  • 24/7 customer service

Fidelity

If there’s one thing you need as a day trader, it’s effective order execution as time is of the essence and Fidelity offers it. As a long-standing competitor as a stock platform, Fidelity provides consistency and reliability that day traders desire.

Features:

  • Real-time insights
  • Get real-time alerts allowing you to make fast decisions
  • No account fees
  • $0 commissions
  • Low margin rates
  • Research from more than 20 sources
  • Zero expense ratio index funds

Charles Schwab’s Edge Trading Platform

Charles Schwab’s StreetSmart Edge trading platform makes day trading a breeze. StreetSmart Edge is great for the beginning day trader as well as the expert, as the system easily grows with you.

Features:

  • Risk management features that help you make quick decisions that protect your portfolio
  • Access on any device
  • Get real-time news
  • Utilize advanced stock charting
  • Access to reputable research
  • Trade multiple securities on one ticket
  • $0 online commissions for stocks, ETFs, and options

TradeStation Stock Trading Platform

TradeStation leads the pack in technology with its innovative offerings both on the desktop and mobile devices. TradeStation puts everything day traders need under one roof.

Features:

  • $0 commissions on stocks, ETFs, and options
  • Cutting edge technology that provides the power day traders need
  • Access to free webinars and courses
  • Watch live demos from the ‘pros’
  • Advanced trading tools
  • Offers cryptocurrency trading

Do your research and choose the stock trading platform that suits your needs. Most platforms today offer $0 commissions, but it’s not just about the cost. Think about the features offered and how they help you make the smart trading decisions you need to succeed.

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