5 best day trading platforms for traders – Test and reviews

For a trader to succeed in the hectic world of day trading, selecting the best day trading platform is essential. Choosing a platform might be difficult because there are so many options. In this post, we’ll provide you a quick rundown of the top 5 day trading platforms for traders, followed by in-depth analyses of each platform. Included in the review are some important information about the broker and the services it offers.

See the list of the 5 best day trading platforms here:

Platform:
Review:
demo account:
Spreads:
Assets:
Advantages:
account:
1. XTB
XTB Logo
Yes, free
Starting 0.1 pips
3,000+
+ More than 3,000 different markets
+ Very good trading conditions
+ Direct market access
+ Bonus Programm
Live account from $0(Risk warning: 72% of retail CFD accounts lose money)
2. Markets.com
Markets.com logo
Yes, free
Starting 0.6 pips
250+
+ Accepts international traders
+ Very fast execution
+ No hidden fees
+ Low trading fees
+ Supports MetaTrader 4/5
+ Free bonus available
Live account from $250(Risk warning: 67% of retail CFD accounts lose money)
3. Capital.com
Capital.com logo
Yes, free
Starting 0.5 Pips
6,000+
+ Multi-regulated broker
+ Free demo account
+ Low spreads and no commissions
+ Trade CFDs on more than 6,000+ markets
+ Personal support
Live account from $20(Risk warning: 79% of retail CFD accounts lose money)
4. RoboForex
The official logo of RoboForex
Yes, free
Starting 0.0 Pips
12,000+
+ International clients are accepted
+ Free demo account
+ Bonus Programm
+ Low spreads and commission
+ A regulated and reliable company
Live account from $10(Risk warning: Your capital might be at risk)
5. Vantage Markets
Vantage Markets logo
Yes, free
Starting 0.0 pips
400+
+ Real ECN Trading
+ Very fast execution
+ No hidden fees
+ Low trading fees
+ Supports MetaTrader 4/5
+ Free bonus available
Live account from $200(Risk warning: Your capital can be at risk)
5 best day trading platforms for traders – Test and reviews

The list of the 5 best day trading platforms includes:

  1. XTB – Good trading conditions
  2. Markets.com – Over 8,200 markets to trade
  3. Capital.com – Multi-regulated broker
  4. RoboForex – A regulated and reliable company
  5. Vantage Markets – Reliable support and service

1. XTB – Good trading conditions

The official website of XTB

XTB has earned its place on this list by being one of the most significant forex and CFD broker on the market. It was founded in 2004 and now caters to upwards of 300,000 clients from 13 countries, including Germany, France, Poland, Chile, and the United Kingdom.

With its fast execution speeds and trustworthy services, and innovative proprietary day trading platform, XTB holds multiple awards to its name, including Best Financial Educator, Best Trading Platform, and Highest Rated FX and CFD Broker.

One of the key objectives of XTB is to win the trust of its potential clientele. XTB is regulated by some of the most well-known and prestigious supervisory bodies to ensure their clients that they may be trusted. They include the Dubai Financial Services Authority, Belize International Financial Services Commission, Cyprus Securities and Exchange Commission, Commission Nationale del Mercado de Valores, and Financial Conduct Authority.

With XTB’s day trading platform, xStation 5, there are more than 2000 assets available. On the website, a comprehensive list of items that can be traded is available. This list consists of 1846 stock CFDs, 57 currency pairs, 15 cryptocurrencies, 30 indices, and 10 commodities.

As previously mentioned, the xStation 5 won Best Trading Platform in 2016. This is because of its unique software that offers different types of services. It features an advanced trading calculator, essential video tutorials, and free-market audio commentary. Its forex execution speed is also commendable at an average of 85 milliseconds. This platform is available on the desktop, mobile devices, and even on a smartwatch.

XTB Logo

You can trade all the aforementioned asset classes with a maximum leverage of 1:500 using the day trading platform from XTB. While trading in indices, commodities, and FX, there are no commissions. However, there will be a cost of 0.08 per lot when dealing with stock and ETF CFDs.

Follow the instructions on the website to create an account. Your name, national insurance number, and phone number will be questioned as part of the required Know Your Customer procedure. You must send any legitimate forms of identification to XTB in order to verify your identification. Once the procedure is over, you can deposit money to begin trading.

Before choosing to make a deposit, you can also test the platform using XTB’s free demo account. You can try trading the various asset classes offered on the site using the virtual money in your demo account.

Although XTB does not charge any deposit fees, 2% of the amount transferred via PayPal or Skrill will be taken out of the e-wallet. Requests for withdrawals can be submitted using the trading platform, and they are typically processed within 24 hours. To continue the withdrawal process when using your bank account, some documentation might be required.

You can get help from customer service representatives five days a week, 24 hours a day. They’re reachable by phone, email, or live chat. You will also be given an account manager after successfully joining XTB who will help you with any questions or issues pertaining to your account.

Romania, Iran, Iraq, Kenya, Syria, Cuba, Ethiopia, Uganda, Bosnia and Herzegovina, India, Pakistan, Israel, Turkey, Singapore, Mauritius, Slovakia, Australia, Japan, Canada, and the United States are among the countries whose traders are not permitted to use XTB.

Benefits of XTB:

  • Regulated by FCA, CySEC, KNF, and IFSC.
  • Free 30 days trial period
  • No XTB minimum deposit required
  • 57 forex pairs, 30 indices, 15 cryptocurrencies, 1846 stock CFDs, and10 commodities
  • Has its own trading platform known as xStation 5
  • Spreads start from 0.01 pips
  • Low commission of 0.08%
  • Monday to Friday multilingual chat, phone, and email support
  • Has a trading academy, price tables, articles, a market calendar, and a market analysis

(Risk warning: 72% of retail CFD accounts lose money)

2. Markets.com – Over 8,200 markets to trade

Markets.com official website

Markets.com is known as a part of Final to Limited, which was once a TradeTech Group. Its main office can be located at Ritter House, Wickhams Cay II, Road Town, Tortola, VG1110, British Virgin Islands. It has been catering to the trading needs of retail traders since 2008. It has collected numerous awards like Best Trading Platform and Best Forex Platform.

Five reputable regulatory bodies monitor this broker. These are the Financial Conduct Authority, the Cyprus Securities and Exchange Commission, the Australian Securities and Investment Commission, the Financial Services Commission, and the Financial Sector Conduct Authority. Each of these companies ensures that Markets.com can be trusted and is a legit broker.

Markets.com has established its own day trading platform with fast execution speeds, low spreads, and cutting-edge trading tools. Known as Marketsx, this day trading platform offers 1987 shares, 4 bonds, 25 cryptocurrencies, 67 forex pairs, 28 primary CFDs, 60 ETFs, 40 indices, 13 blends, and 28 commodities.

Markets.com’s proprietary day trading platform offers free access to various exclusive technical trading tools. Additionally, you can interact with trading professionals using the day trading platform to gain extra knowledge, a second opinion, or expert analysis.

A complete list of the available assets can be found on the website, and their corresponding trading conditions like leverage spreads, etc. The website has an easy-to-navigate interface, and all the information you need can be found in each section.

markets.com logo

To sign up, click on the “Create Account” button found in the upper right corner of the website. This will redirect you to the sign-up form, which will ask for your password and email address. Alternatively, you can link your Google or Apple ID account to create an account. Signing up opens both a demo and a live account.

When using your free demo account on Markets.com’s day trading platform, you will be using virtual money provided by the broker to test the trading platform for free. Here, you can also hone your skills as a trader or try out different strategies before you execute your first live trade.

Once you are ready to trade with real money, your first step to trading live is to deposit at least $100 to your trading account. This can be done via credit and debit cards, Skrill, PayPal, Neteller, bank wire transfer, Sofort, or Ideal. You can do so via bank transfer, credit or debit card, Skrill, PayPal, or Neteller when withdrawing funds.

You can contact Markets.com’s customer service representatives via phone or live chat. They are available 24/5, and you can rest assured that your concerns or queries will be addressed promptly. The website supports English, Arabic, and Spanish.

Markets.com does not offer its services to certain countries due to legal reasons. These countries are Singapore, India, Hong Kong, Puerto Rico, Iraq, Syria, Iran, Iceland, Israel, Canada, Turkey, Belgium, the United States, Brazil, Japan, and the Russian Federation.

Benefits of Markets.com:

  • Regulated by FSCA, CySEC, FSC, ASIC, and FCA
  • Free demo account
  • Minimum deposit of $100 on Markets.com
  • 1987 shares, 4 bonds, 25 cryptocurrencies, 67 forex pairs, 28 primary CFDs, 60 ETFs, 40 indices, 13 blends, and 28 commodities.
  • Has two proprietary day trading platforms (Marketsi and Marketsx) but MT4 and MT5 are also available
  • Average spreads of 0.70 pips and low fees on Markets.com
  • Low commission on select stocks such as CFDs
  • 24/5 phone and live chat support
  • Trading tools and a knowledge center are available

(Risk warning: 67% of retail CFD accounts lose money)

3. Capital.com – Multi-regulated broker

Capital.com official website

Capital.com was founded in 2016, which makes it the youngest broker on our list. But despite only existing for five years, it now has over a million users from 50 different countries. It has three main offices, which can be found in Gibraltar, Cyprus, and London. It is fully regulated by the Cyprus Securities and Exchange Commission and the Financial Conduct Authority.

This broker offers a wide range of assets for its clients to trade. In total, there are 138 Forex, 31 commodities, 202 cryptocurrencies, 26 indices, and 3616 shares. When viewing the list of assets, you can sort them based on which is the most traded asset, the top risers, the top fallers, as well as the most volatile. This set of information is proper, especially if you’re not quite sure as to which asset to trade.

These assets are available to trade on Capital.com’s own web day trading platform or on the MetaTrader 4. With its innovative design as well as a plethora of technical indicators and trading tools, Capital.com’s platform offers seamless and accurate trading. The day trading platform offers an easy-to-use interface, has more than 75 technical indicators, and offers a wide range of drawing tools. You can also choose between candlesticks, area, bar, Heikin-Ashi, or line charts.

Capital.com logo

Creating an account won’t take more than a minute. Only your password and email address are required when signing up. However, you have the option to link your Google, Facebook, or Apple ID to create an account.

Trading will require a minimum deposit of $20. You can add funds to your account using various payment methods like iDeal, Neteller, Webmoney, and many more. These also work as withdrawal methods. This broker’s customer support can be contacted 16/7  through phone, live chat, or Facebook messenger.

Capital.com only caters to traders from a small pool of countries. Included in the pool are the United Kingdom, UAE, Austria, Argentina, Armenia, Bulgaria, Bahrain, Croatia, Cyprus, Chile, Czech Republic, Estonia, Finland, Germany, Georgia, Gibraltar, Greece, Iceland, Hungary, Indonesia, Ireland, Italy, Latvia, Kuwait, Liechtenstein, Lithuania, Mexico, Malis, Netherlands, Oman, Norway, Philippines, Pakistan, Qatar, Portugal, Slovakia, Spain, Sierra Leone, Switzerland, Sweden, Thailand, the United Kingdom, and the United Arab Emirates.

Benefits of Capital.com

  • Regulated by FCA and CySEC
  • Complimentary demo account
  • Capital.com minimum deposit of $20
  • 138 forex, 31 commodities, 202 cryptocurrencies, 26 indices, and 3616 shares
  • Uses MT4 and its own trading platform
  • Tight and competitive spreads
  • Zero commission
  • 16/7 phone and chat support
  • Various guides for trading different asset classes

(Risk warning: 79% of retail CFD accounts lose money)

4. RoboForex – A regulated and reliable company

The official website of RoboForex

RoboForex maintains its headquarters in Belize and has been running since 2009. Several authorities have made sure they are well-regulated, including the International Financial Services Commission. As of 2020, they have held around 3 million live accounts and are still growing.

When it comes to Forex trading, you have over 40 currency pairs to trade with through RoboForex. There are also plenty of other assets to be traded.

RoboForex is quite competitive in terms of its commissions, spreads, and leverages. For one, their maximum leverage goes all the way up to 1:2000, which is possibly one of the highest you’ll find. While they have an average of around 1.7 pips in a spread for most assets and accounts, there are some situations in which you’ll get very low spreads or even none at all. You’ll have to look through the available account types that differ in the commissions and spreads.

RoboForex logo

RoboForex does a great job of securing your account and protecting you as a client. They offer negative balance protection, which means your account will never lose more than you’ve deposited. RoboForex is also covered by Civil Liability insurance, another security layer that everyone can appreciate.

Their platform is accessible through cTrader, RTrader, and MetaTrader 4 and 5. So far, all of these applications have performed well in transaction speed, user-friendliness, overall utility, social trading, copy trading, features, and tools. However, you should note that some fee systems may vary according to your application.

Finally, one of the best things about RoboForex is its educational tools. You get several branches of analysis, including market, technical, and professional analytics. There are educational tools that help you build trading strategies and advise your trading decisions. Signing up with RoboForex means lots of trading advice and expertise to help you are investing along.

Benefits of RoboForex:

  • Offers several account bonuses
  • Excellent educational modules
  • Lots of analytics for trading strategies and advice
  • Securely regulated by trusted authorities
  • Competitive spreads on certain account types
  • Very high maximum leverage of 1:2000

(Risk warning: Your capital can be at risk)

5. Vantage Markets – Reliable support and service

The official website of Vantage Markets
The official website of IC Markets

Vantage Markets has existed since 2009 and knows exactly how to respond to the wishes of its customers. The broker is mainly based in Level 29, 31 Market Street, Sydney NSW 2000, Australia, and accepts traders from almost every country. But they also got business addresses in the Cayman Islands and Vanuatu.

Vantage stands for transparent trading on the financial markets. This can only be said of some brokers and is very difficult to recognize, especially for the beginner. The strengths of Vantage Markets are transparent order execution and liquidity delivery. It is one of the few actual ECN brokers. The broker is connected to a network of large liquidity providers. These accept the order of the traders. The liquidity providers are transparently visible on the homepage. Large, well-known banks (HSBC, Bank of America, UBS, and more) are among them.

Overall, Vantage Markets has more than 180 different tradable assets. These include forex (currencies), indices (Dax, SP500, etc.), commodities, precious metals, energies, and cryptocurrencies. The selection here is extensive, and every trader should find his matching asset to trade. The broker is constantly striving to expand the offer and to implement new markets.

Vantage Markets logo

Vantage Markets also offers 3 different account models (STP, RAW ECN, and PRO ECN – more on that below). The leverage can be up to 1:500 high for all accounts, and the spreads start depending on the account model from 1.4 pips or 0.0 pips. The commission per traded 1 lot is either $ 3 or $ 2 high.

The account opening process is straightforward with Vantage Markets. You can create your trading account in just a few steps. In the following section, we will guide you through the depot opening. After entering your personal data, the email address must be confirmed. In addition, the broker asks you to verify the account with appropriate documents before the first deposit.

Generally, the minimum deposit at Vantage Markets is $ 200. From this amount, a Standard STP account can be opened. You must deposit at least $ 500 for the RAW ECN account and at least $ 20,000 for the PRO ECN account. The capitalization of the trading account is elementary and works through proven methods.

Payment methods for the deposit: 

  • Credit Cards (Visa, Mastercard, American Express)
  • Bankwire
  • Skrill
  • Neteller
  • FasaPay
  • Union Pay (China)
  • Cryptocurrencies (BitcoinEthereum, Litecoin)

Benefits of Vantage FX:

  • Regulated and safe Forex Broker
  • Real ECN Trading
  • The best trading conditions for Forex
  • Very fast execution
  • Reliable support and service
  • No hidden fees on Vantage Markets
  • Low trading fees
  • Supports MetaTrader 4/5
  • Free bonus available

(Risk warning: Your capital can be at risk)

What is a day trading platform?

What is a 
day trading platform?

As the name suggests, a day trading platform allows traders to make multiple trades in a day without any restrictions on the asset or the amount they choose to trade. With brokers that offer day trading accounts, clients will have access to hundreds, if not thousands, of assets that they could choose to trade and close within the day.

Trading with these brokers enables clients to trade against millions of traders worldwide in hopes of gaining a profit. Since most of the best days, traders aim to generate small profits day by day; their goal is to be consistent and compound these gains for exponential growth in the future.

Day trading is not a get-rich-quick scheme, but it’s a strategy that relies on consistency and hard work on a day-to-day basis. Day traders close their newly opened positions to avoid unforeseen risks that happen overnight or when the asset’s market closes. 

Closing positions within the day prevents the trader from suffering surprising negative news relative to their position. Although there is a chance that tomorrow’s news might impact their portfolio positively, day traders know the risk is too high and might leave a significant mark if their prediction turns out to be wrong.

Day trading, as explained, is not a buy-and-hold strategy. Day traders do not benefit from long-term trends, but instead, they meticulously plan out their trades from short-term aspects such as impulsive news or current volatility. However, these kinds of traders closely resemble swing traders in executing their positions but in a shorter time frame.

Aside from swing trading, day traders have other strategies as well that include arbitraging, anticipating, or trading fresh news. A lot of time should be spent developing day trading skills and actively trading the market. One should always be updated if one chooses to implement this trading style.

In the past, it was difficult for retail traders to be able to execute day trades since their orders went through traditional brokers. With modern-day trading accounts, clients can expect that they have fast connections as they are directly connected to the worldwide network of traders. Traders can now directly access the market and enter trades without the assistance of a broker.

Technological advancements have made it possible for retail traders to enjoy various services offered by brokers that also offer day trading accounts. Some of these features include charting, up-to-date and in-depth market analysis, and also customizable interfaces.

Day traders are not limited to trading a single asset class. Instead, they aim to target highly volatile issues found in stocks, indices, forex, and cryptocurrency. Derivatives such as futures, CFDs, and options can also be traded depending on the discretion and preference of the trader.

Since market movement is sometimes minuscule, day traders can use margin and leverage if available. This lets them profit from tiny movements in the market as long as it fits their trading rules and trading profile.

Tips and tricks for trading

Tips and tricks for trading

Aspiring day traders should be aware that this kind of trading takes a lot of time in either monitoring the market or doing research. Some traders spend hours just looking at news articles and charts to know profitable opportunities in the market.

At the very least, trades should be planned and thought of 15 minutes in advance to account for second thoughts and tests of conviction. The more time you have for research, the better. Having access to updated news articles and an economic calendar for forex will definitely bring profitable ideas.

For technical analysis, charts should be looked at not just on the intraday time frame but also on the hourly, daily, and weekly time frames to know essential price points. Beginners may consult veteran traders to know if they have the right idea on a certain trading opportunity.

It is a misconception that day traders need to trade all opportunities that they see. Some of the best day traders only trade and specialize in a few assets. Being familiar with a movement of a specific asset increases your edge and hit rate.

Other veterans claim that day trading’s risk outweighs its reward. Although this is arguable, it is a fact that day trading is difficult without proper practice and backtesting. We suggest trying day trading out first with a small amount of cash or even with just a demo account if this trading style is for you.

Day traders should always avoid illiquid issues. Not having enough sellers or buyers at an asset’s current price will increase your slippage whether you’re buying or selling. With this in mind, it is a rule of thumb to avoid penny stocks that have little to no market participation.

Since consistency is what day traders aim for, it is suggested that risk should be set to a recommended value of just 1% for every single trade. This means that the value at risk if the trade goes south is just 1% of your portfolio’s value. This is to minimize the potential loss and increase your chances of making more trades that could benefit you in the future.

With the risk set, it is also recommended to set automatic stop-loss points that could assist you. The automatic closing of positions removes the emotional factor that comes into play for many traders and forces them to follow their pre-set plan.

When taking profits, it’s important not to get greedy as well. Traders can lock in profits partially and let the rest run until the day ends for further profits.

Stop loss

As mentioned earlier, it is important to follow your plan and not let yourself be influenced by greed, pride, or even fear of missing out on a trade. It is important to follow your initial plan and be patient for the price to come to your level to ensure proper trade management and execution of practiced, backtested ideas.

Although following the advice of veterans is suggested for beginners, all traders of all skill levels should not blindly follow advice. When making your own trading plan, it is better to know why you would want to enter a trade and how you would exit it even before a position is entered.

There will be times when a trader will encounter losing streaks. It is important to take breaks to avoid burnout and the emotional stress that comes about when losing money.

We suggest not to overtrade as well. Even though more trades mean more opportunities, forcing yourself to take unfavorable trades will lead to more losses and will affect you even more.

How to open an account for a day trading platform?

Signing up for a trading account with Vantage Markets
You can pick a good broker like Vantage Markets for day trading

Opening an account for a day trading platform usually takes less than a minute for most brokers. Some brokers even allow you to use your Facebook, Google, Apple ID, or any other account to sign up. But, some brokers will require additional information like your monthly income, national insurance number, and many more. This is because it is standard for brokers that implement the KYC or Know Your Customer process.

(Risk warning: Your capital can be at risk)

Verification process

Account verification process on Vantage Markets
Confirm your ID for verification

Most brokers only need to verify your email by sending you a link that you will need to click to verify your account. Some brokers will verify your phone number by sending you a code that you will need to input or giving you a call.

But other brokers will need to verify your ID or proof of address for an added layer of protection. It may seem like a hassle for you since you’ll need to upload the necessary files. But this is to make sure that all your profits go to you and you alone.

Demo online trading account

How to sign up for a MetaTrader 4 demo account on Vantage Markets
You can also sign up for a demo account on Vantage Markets

This is one of the essential features a broker could offer to its potential clients. Similarly, a demo account also comes in handy for clients who have already registered with the broker. There are multiple reasons why this feature is on the list of so many traders.

First, a demo account lets you test the broker’s trading platform without risking any of your cash. The broker provides virtual funds that you can use to trade the different assets they offer. You can also use it to compare platforms with one another to see which one best suits your trading style.

Second, beginners can train on the platform before starting trading live. Demo accounts mimic real-life market conditions, which makes it great for familiarizing yourself with how to trade the different asset classes.

Lastly, a free demo account can help ensure that a broker is legit and can be trusted. Most brokers claim to be regulated and have award-winning platforms. But some oversell themselves, and sometimes, traders would fall for these false claims.

(Risk warning: Your capital can be at risk)

Deposits and withdrawals

Deposit methods on Vantage Markets
Choose from many different payment methods on Vantage Markets

You can often use the same deposit method as your withdrawal method. However, this depends on the broker, so make sure you check out the payment methods available.

Fees for a day trading platform

Spreads on Vantage Markets
The spreads and fees at Vantage Markets are low!

Fees typically come in the form of commissions or spreads. These vary from broker to broker, but the amount may also differ based on the asset class you are trading. Information on spreads as well as commissions, can be found on the broker’s website or platform.

When signing up, you won’t be charged a registration fee. This is also the case when you deposit funds into your account. But make sure to double-check. Withdrawing funds may require you to pay additional fees.

Conclusion – Pick one of the best trading platforms!

Finding the best day trading platform might be challenging because there are so many different options available. In this article, we’ve analyzed the top five day trading platforms and provided in-depth analyses of each one. We hope the information provided will you in your search for the ideal day trading platform. Once you’ve discovered the ideal platform, you may refine your trading tactics and dominate the market.

(Risk warning: Your capital can be at risk)

Last Updated on March 3, 2023 by Arkady Müller