Choosing the Best Day Trading App

With the best trading platform for day traders, you can make trades on the go. However, choosing the best day trading app depends on your goals and needs, as well as the costs and fees involved.

TD Ameritrade’s thinkorswim mobile app lets you invest in stocks, mutual funds, ETFs, options and foreign currency. The app features research tools, charts and market analysis to help you make informed trading decisions. You can also access a demo account to test out the platform without risking real money.

Choosing the Right Broker: Finding the Best Day Trading Broker in the UK

Another great option for tech-savvy investors is CMC Markets. This top-rated stock broker has taken a lot of time and money to optimize its mobile trading apps. It offers a solid layout that includes multiple customizable charts that can be moved, grouped and tethered together, an order montage, level II data with time and sales, and more. Its advanced charting and automation capabilities rival those of desktop trading software.

A popular strategy is to identify a stock with a clear uptrend and then wait for the first retracement down to a support level. Traders use this pattern to profit when markets overreact and prices return to more reasonable levels. This type of trading is known as fading and can be high-risk because prices often move too quickly.

Founded in 2018, Webull is a strong low-cost option for day traders that wants to focus on equities and ETFs. Its mobile platform is easy to use and offers a solid range of tools, including an intuitive interface, reliable price discovery and support via telephone and email. However, this app doesn’t offer short locates or a range of trading options and its pay-for-order-flow arrangements with market makers can mean you won’t always get the best price on your trades.