Best Brokers for Day Trading / Scalping / Momentum (US Equities/Stock Market)

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In this video, I compare the various brokers I have tested, especially from my perspective as a relatively new day trader. So execution speed obviously matters most to me. And secondarily, also hotkeys / custom button functionality. Brokers tested:

-SureTrader
-Tradestation
-Fidelity
-Schwab
-UStockTrade
-ETrade
-Interactive Brokers
-Robinhood

Note, I only cover my recommended brokers in this video. While I use ThinkorSwim and Bookmap for charting, I did not mention TD Ameritrade or Velox Pro here because I have not used them for placing trades (But I do recommend their charting platforms!)

Hope this helps!

37 comments

    1. I have not tested TOS myself, but I’ve watched other videos demonstrating its trading and from what I’ve seen, there is a bit of lag in trading on this platform.

  1. How can i day trade by avoiding the PDT rule if i want to make more than 4 trades per week but have less than 25k?

    1. You can do either of these: 1) use a cash account. no PDT with a cash account. however there is a 2 day settlement, so you still have a limited number of trades depending on your account size, position sizes, and trades per day, 2) UStockTrade, peer-to-peer broker, no PDT, however there are no afterhours/pre-market trading with UST, and not all stocks are tradable on it, 3) SureTrader or another offshore broker, however there is some risk, and fees are pretty high with ST, so you really need to know what you’re doing. I do not recommend ST to newbies.

    2. hey, i would absolutely avoid Amex credit for investing, if you can’t cover the balance in the one year period then the interest is so high, recently i made a research with TD ameritrade account managers and Mr Paul was able to review a very good secret of td forex platform and other brokers platform, contact him if you need help at paulydesmondb@gmail.com i have made much money on the platform.

    3. Suretrader has a bad rep for slooow payments, fees too high, and no direct access routing anymore. CMEG, cmelitegroup.com, in the Bahamas solves that problem. DMA routing, Das Trader Pro, quite reasonable active trader fees, NO PDT, 6x leverage on accounts over 2.5k, and a good reputation in trader rooms. Google them.

  2. Good video, but you started it by saying that you opened an account and had used them all. By the end of the video you said you hadn’t opened an account with the last 2, making this a bit irritating due to the fact that I took your opinions seriously at the beginning of the video.

  3. What about traders that would like to place fewer trades at first.i’m interested in trading stocks(long and short),futures etc.ThinkorSwim charges alot for trades,whereas Interactive brokers charges 20usd per month minimum for fees and has PDT.Which one should I choose?I’m a newbie here and not a U.S citizen.Thanks for the vid!

  4. the closer you are to New York the faster the data . I was on a train going to Boston . My lay over was 1 hr on the trading account and I was getting signals pinging up so quickly and this was 2 am when the market was closed .

  5. Robinhood does have an immediate settlement, or something similar at least. I say similar because this can only be done on a margin account. Technically the funds are not yet settled so they are not officially part of your portfolio. Nevertheless, you have all the buying power after a trade. The main problem with Robinhood is the Pattern day Trading rule. The way to get around that is to have at least $25,000 of equity on said account, only then are you able to trade as much as you want and do not have to wait for funds settlement. A cash account gets rid of PDT but your funds do not settle after 3 days.

    1. Daniel G. What??!! 😲You mean to say if I want to withdraw or bank transfer some of my winnings I can’t do it until 3 days?? 😲😳

    2. @Ryan Gosling That is correct. Transferring to external accounts take 3 days regardless of the type of account you have.

    1. Yes, I actually opened an account with them recently just to see how they stack up. 🙂

    2. @Lion Turtle Trading hi
      How is your experience with Tradezero so far??
      I’ve been with them 2017/18 but traded from UK Europe. Currently I’m not trading because I blown up account few times but now saved all money back and looking forward to start trading again with them. Was wondering if they still ok to trade?
      Waiting for your reply thank you 😊

    3. For shorting, TradeZero locate fees have been getting more pricey over the last year, as they become more popular. And they run out of shares more frequently now. But they’re still better than most in terms of availability. For all their woes, unfortunately no one is really much better. The problem is their locates fees and overnight fees. It forces you to be VERY picky in your selection of which stocks to trade. Basically, you need to have just one or two setups you know inside and out, and only buy shares when you see your setup 80%+ formed. Otherwise you will throw away half your account on locate fees and overnight fees. Overnight fees are the worst with TradeZero (7x the locate fee for the first night). So if you short, you must be sure not to hold overnight, which if you’re under PDT is very difficult. You have to learn not to over-trade. Honestly 1 or 2 trades a week is enough to make good money.

  6. Thanks for the info. I do have to say that I use Interactive Brokers and in the U.K. at least, they have one of the fastest executions of any broker that I’ve used. Also, again in the U.K. , I.m not sure about the States or rest of World, if you sign up with Tradestation you can use their platform but all trade executions will still route through Interactive Brokers.

  7. So on Ustocktrade the profit will settle immediately even if you only have a cash account?

    Thanks for the video!

    1. Any broker that allows trading at 7am (which is hard to find). You want to be able to trade at 7am, since some of the biggest movers happen then.

  8. Thank you for the info. Do you know how is the fill on Ustocktrade? Since they are peer to peer does that pose a problem with the fill? Just trying to get as much info about them before I make the jump. Thank you for the help!

    1. Fills on Ustocktrade are pretty fast for peer-to-peer, you will have no problems, other than not being able to trade a low float stock every now and then.

    2. Great thank you. I’m just looking for a broker that a newbie who is under PDT cans start with. Once I break the $30,000 mark I’ll look at the big boys. I thought about CMEG but their commissions are a little high.

    3. Lion Turtle Trading what we should be really worrying about is how fast can we get out… please lemme know cuz I’ve been looking for the answer for a while now 😕

  9. I have Schwab, and I agree it isn’t fast enough to day trade with. You will be okay, but never as great as your profit potential can be.

    For Swing trading or Option trading, Schwab is good.

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