Day trading is commonly associated with the real big shots of Wall Street. Whether you're just looking to get started or you're already a pro, we collected for you the best online brokers for day trading in 2021 for European citizens. After thorough research and discussions with experienced day traders, we put together a list of the top 5 brokers. We highly recommend all 5 to you. And now, without further ado...
Our top 5 picks for the best brokers for day trading in 2021 for Europeans are:
- Interactive Brokers - the best broker for day trading in 2021. Low trading fees. Wide range of products. Many great research tools.
- NinjaTrader takes second place. Low trading fees. Great platform and research. Quality educational materials.
- Saxo Bank rounds out the top three. Great trading platform. Outstanding research. Broad product portfolio.
- ActivTrades came in at number four. Low trading fees. Excellent account opening. Free deposit and withdrawal.
- XTB just made it to the list in fifth place. Low forex fees. Free and fast deposit and withdrawal. Easy and fast account opening.
| Name | Info | Score | |
|---|---|---|---|
| #1 | Interactive Brokers | International broker providing all asset classes | 4.9 |
| #2 | NinjaTrader | Global platform provider focusing on futures trading | 4.4 |
| #3 | Saxo Bank | Danish investment bank | 4.8 |
| #4 | ActivTrades | Global CFD and forex broker | 4.5 |
| #5 | XTB | Global CFD and forex broker | 4.7 |
What makes a broker good for day trading? Their fees for complex products are essential to consider. A good desktop trading platform and powerful charting tools are also crucial for monitoring the minute-by-minute changes on the market. Withdrawal conditions are an important factor as well. And finally, the product offering and the expertise in these products should also be strong.
Trading on a daily basis can be exciting and there is a possibility for winning big with it. However, it's important to note that whether you trade with your own money or with leverage, day trading is highly risky and you can also suffer big losses. We advise you to start day trading only if you consider yourself an experienced trader. If you want to learn more about trading in general, check out our articles on becoming a trader and managing your own portfolio.
Not sure which broker is best for you? For a tailored recommendation, check out our broker finder tool. You can enter your country and it will narrow down the list of brokers to those that are available where you live. Want more details? Compare brokers with our in-depth comparison tool.
Obligatory, but important note: some of these brokers offer CFD products. These are complex and very risky, thus are not suitable for everyone. You can easily lose all of your invested money. If you don't have a clue what a CFD is, start with these CFD trading tips.
And now, let's go over the best online brokers for day trading in 2021 for European citizens one by one. Starting with the winner, Interactive Brokers.
#1 Best online broker for day trading
Interactive Brokers
Interactive Brokers review summary
Interactive Brokers, one of the biggest US-based discount brokers, was founded in 1978. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).
Given that the broker has licenses from multiple top-tier regulators, Interactive Brokers is considered safe. The fact that it has a long track record and publicly disclosed financials while being listed on a stock exchange all point to IB being a safe service provider.
Our overall Interactive Brokers rating
Compare this broker to the best Interactive Brokers alternative here.
#1 Interactive Brokers
Fees
Interactive Brokers has low trading fees and the best margin rates in the industry. For US clients, stock and ETF trading is free if they choose the Lite plan.
| Pros | Cons |
|---|---|
| • Low trading fees | None |
| • Free stock and ETF trading for US clients | |
| • Low margin rates |
| Interactive Brokers | NinjaTrader | Saxo Bank | ActivTrades | XTB | |
|---|---|---|---|---|---|
| US futures | $2.5 | $3.5 | $40.0 | - | - |
| US options | $6.5 | - | $30.0 | - | - |
| EURUSD | $2.4 | - | $0.5 | - | $1.1 |
| US stock CFD | $1.2 | - | $10.2 | $1.2 | $8.2 |
#1 Interactive Brokers
Desktop trading platform
IB's desktop platform, TWS comes with great customizability and advanced order execution, but it's not user-friendly and caters more to advanced traders.
| Pros | Cons |
|---|---|
| • Clear fee report | • Not user-friendly |
| • Good customizability (for charts, workspace) | • Complexity might be overwhelming |
| • Good variety of order types |
| Interactive Brokers | NinjaTrader | Saxo Bank | ActivTrades | XTB | |
|---|---|---|---|---|---|
| Charting tool quality | Great | Great | Great | Great | Great |
| Number of technical indicators | 120 | 125 | 50 | 22 | 37 |
#1 Interactive Brokers
Deposit and withdrawal
Interactive Brokers offers several account base currencies and one free withdrawal per month. The main drawback is that you can only use bank transfer.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Several account base currencies | |
| • First withdrawal free each month |
| Interactive Brokers | NinjaTrader | Saxo Bank | ActivTrades | XTB | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | Yes | No |
| Electronic wallets | No | No | No | Yes | No |
| Withdrawal fee | $0 | $40 | $0 | $0 | $0 |
| Withdrawal time | 2 days | 1 day | 1 day | >3 days | 1 day |
#1 Interactive Brokers
Markets and products
At Interactive Brokers, you have access to an extremely wide range of markets and all product types are available.
| Interactive Brokers | NinjaTrader | Saxo Bank | ActivTrades | XTB | |
|---|---|---|---|---|---|
| Stocks | Yes | No | Yes | No | Yes |
| ETFs | Yes | No | Yes | No | Yes |
| Forex | Yes | No | Yes | Yes | Yes |
| Funds | Yes | No | Yes | No | No |
| Bonds | Yes | No | Yes | No | No |
| Options | Yes | Yes | Yes | No | No |
| Futures | Yes | Yes | Yes | No | No |
| CFDs | Yes | No | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | No | Yes |
#1 Interactive Brokers
Verdict
Interactive Brokers is one of the biggest US-based discount brokers, regulated by several top-tier regulators globally. We recommend this broker both for advanced traders and for everyday investors who want to have access to many stock markets.
On the plus side, IB offers very low fees, a vast range of markets and products, and diverse research tools.
There are some drawbacks, though. We weren't satisfied with the quaity of the customer service and the account opening process is complicated. Unlike the web and mobile platforms, the desktop platform is complex and hard to get a handle on, especially for beginners.
If you have experience navigating complex platforms and enjoy transparent, low-cost trading, Interactive Brokers is a great fit for you.
| Interactive Brokers | |
|---|---|
| Summary | Interactive Brokers is a US discount broker. It is listed on a stock exchange and regulated by several authorities, including top-tier ones like the FCA and the SEC. |
| Fees score | 4.5 stars |
| Recommended for | Traders looking for broad market access and a professional trading environment |
#2 Best online broker for day trading
NinjaTrader
NinjaTrader is a US-based software company that provides a great trading platform with advanced research tools. The company was founded in 2003.
Besides providing the software, NinjaTrader is a registered NFA (National Futures Association) company and an introducing broker of brokers like Phillip Capital and Dorman Trading. The introducing broker status means that your assets and cash are held with a broker, like Phillip Capital, but the platform, fees and customer support are provided by NinjaTrader.
In our review, we tested NinjaTrader's platform and brokerage services through an account opened with Phillip Capital. Phillip Capital is a global broker, regulated by top-tier financial authorities such as the US Commodity Futures Trading Commission (CFTC) and the UK's Financial Conduct Authority (FCA).
You can also connect the following brokerage accounts to NinjaTrader platforms: Interactive Brokers, TD Ameritrade, Oanda, Forex.com, FXCM and City Index. The advantage of connecting these accounts is that you can trade other popular asset classes, like stocks, on NinjaTrader's great platform.
#2 NinjaTrader
Fees
NinjaTrader has low trading fees for futures and options on futures. The fee structure is transparent. On the negative side, there is a high withdrawal fee.
| Pros | Cons |
|---|---|
| • Low trading fees | • High withdrawal fee |
| • Transparent fee structure |
| Interactive Brokers | NinjaTrader | Saxo Bank | ActivTrades | XTB | |
|---|---|---|---|---|---|
| US futures | $2.5 | $3.5 | $40.0 | - | - |
| US options | $6.5 | - | $30.0 | - | - |
| EURUSD | $2.4 | - | $0.5 | - | $1.1 |
| US stock CFD | $1.2 | - | $10.2 | $1.2 | $8.2 |
#2 NinjaTrader
Desktop trading platform
NinjaTrader's desktop platform is great for active traders: highly customizable with many advanced features. However, it might feel complicated at first, and also lacks a two-step login.
| Pros | Cons |
|---|---|
| • Clear fee report | • No two-step (safer) login |
| • Good customizability (for charts, workspace) | • Available only on Windows |
| • Good variety of order types | |
| • Many great tools for technical analysis |
| Interactive Brokers | NinjaTrader | Saxo Bank | ActivTrades | XTB | |
|---|---|---|---|---|---|
| Charting tool quality | Great | Great | Great | Great | Great |
| Number of technical indicators | 120 | 125 | 50 | 22 | 37 |
#2 NinjaTrader
Deposit and withdrawal
NinjaTrader's deposit and withdrawal services could be better. You can use only bank transfer and check, and there is a high fee for bank withdrawals. As a plus, there is no deposit fee and withdrawals are quick.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Quick withdrawal, less than 1 business day | • High withdrawal fee |
| Interactive Brokers | NinjaTrader | Saxo Bank | ActivTrades | XTB | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | Yes | No |
| Electronic wallets | No | No | No | Yes | No |
| Withdrawal fee | $0 | $40 | $0 | $0 | $0 |
| Withdrawal time | 2 days | 1 day | 1 day | >3 days | 1 day |
#2 NinjaTrader
Markets and products
At NinjaTrader Brokerage you can trade only futures and options on futures. To trade popular asset classes like stocks or spot forex, you have to connect your existing brokerage account to NinjaTrader.
| Interactive Brokers | NinjaTrader | Saxo Bank | ActivTrades | XTB | |
|---|---|---|---|---|---|
| Stocks | Yes | No | Yes | No | Yes |
| ETFs | Yes | No | Yes | No | Yes |
| Forex | Yes | No | Yes | Yes | Yes |
| Funds | Yes | No | Yes | No | No |
| Bonds | Yes | No | Yes | No | No |
| Options | Yes | Yes | Yes | No | No |
| Futures | Yes | Yes | Yes | No | No |
| CFDs | Yes | No | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | No | Yes |
#2 NinjaTrader
Verdict
NinjaTrader is a great platform for futures trading.
On the plus side, we liked the low commissions. Its advanced platform is great for experienced traders, especially for futures traders. The educational material provided by Ninja is well structured and they have an active user forum as well.
NinjaTrader Brokerage has some drawbacks though. The fees for withdrawal are high, at $30-40 per withdrawal. There is no mobile platform and the desktop platform is available only on Windows. Lastly, the product portfolio covers only futures and options on futures.
As there is no fee for the demo account and you can open it within a few minutes, feel free to try NinjaTrader.
| NinjaTrader | |
|---|---|
| Summary | NinjaTrader is a US-based software company that has an excellent desktop application for advanced users, particularly futures traders. NinjaTrader is an NFA-registered company and an introducing broker of brokers like Phillip Capital and Dorman Trading. |
| Fees score | 4.5 stars |
| Recommended for | Active traders focusing on futures |
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#3 Best online broker for day trading
Saxo Bank
Saxo Bank, a Danish investment bank founded in 1992, provides online trading and investment services. The company is regulated by several financial authorities globally, including the Danish Financial Services Agency (FSA) and the UK Financial Conduct Authority (FCA).
Saxo Bank is a global service provider and its subsidiaries are present in the form of separate legal entities in different regions of the world. The services offered by the various entities may differ slightly, especially with respect to fees and product portfolios. In this review, we tested Saxo Bank UK.
Saxo Bank is considered safe because it has a long track record, a banking background and is regulated by top-tier financial authorities.
#3 Saxo Bank
Fees
Saxo Bank has average trading and non-trading fees overall. Trading fees vary greatly between different asset classes.
| Pros | Cons |
|---|---|
| • Low forex fees | • Inactivity fee |
| • Low fund fees | • High bond, options and futures fees |
| • No withdrawal fee |
| Interactive Brokers | NinjaTrader | Saxo Bank | ActivTrades | XTB | |
|---|---|---|---|---|---|
| US futures | $2.5 | $3.5 | $40.0 | - | - |
| US options | $6.5 | - | $30.0 | - | - |
| EURUSD | $2.4 | - | $0.5 | - | $1.1 |
| US stock CFD | $1.2 | - | $10.2 | $1.2 | $8.2 |
#3 Saxo Bank
Desktop trading platform
Saxo Bank's desktop trading platform is one of the best on the market. It is well designed, easy to use and offers great customizability.
| Pros | Cons |
|---|---|
| • User-friendly | None |
| • Clear fee report | |
| • Good customizability (for charts, workspace) |
| Interactive Brokers | NinjaTrader | Saxo Bank | ActivTrades | XTB | |
|---|---|---|---|---|---|
| Charting tool quality | Great | Great | Great | Great | Great |
| Number of technical indicators | 120 | 125 | 50 | 22 | 37 |
#3 Saxo Bank
Deposit and withdrawal
Saxo provides multiple deposit and withdrawal options free of charge on a user-friendly interface.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Electronic wallets not available for deposit or withdrawal |
| • Free withdrawal | |
| • No deposit fee |
| Interactive Brokers | NinjaTrader | Saxo Bank | ActivTrades | XTB | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | Yes | No |
| Electronic wallets | No | No | No | Yes | No |
| Withdrawal fee | $0 | $40 | $0 | $0 | $0 |
| Withdrawal time | 2 days | 1 day | 1 day | >3 days | 1 day |
#3 Saxo Bank
Markets and products
Saxo Bank's product portfolio covers all asset classes and a lot of markets globally. Mutual funds are the only areas where the selection could be improved.
| Interactive Brokers | NinjaTrader | Saxo Bank | ActivTrades | XTB | |
|---|---|---|---|---|---|
| Stocks | Yes | No | Yes | No | Yes |
| ETFs | Yes | No | Yes | No | Yes |
| Forex | Yes | No | Yes | Yes | Yes |
| Funds | Yes | No | Yes | No | No |
| Bonds | Yes | No | Yes | No | No |
| Options | Yes | Yes | Yes | No | No |
| Futures | Yes | Yes | Yes | No | No |
| CFDs | Yes | No | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | No | Yes |
#3 Saxo Bank
Verdict
Saxo Bank is a great broker, providing a complex and good service.
It offers a user-friendly and well-designed trading platform, backed by great research. The product portfolio covers all asset types and many international markets.
It has some drawbacks though. The fees for bonds, options and futures are high. There is also a high minimum deposit for certain countries. Lastly, there is no live chat or 24/7 customer support.
In general, Saxo Bank is one of the best online brokerage companies out there. By opening an account, you will get a broad, well-developed service constantly adapted to the needs of clients.
| Saxo Bank | |
|---|---|
| Summary | Saxo Bank is a Danish investment bank. It is regulated by more than 10 financial authorities, including the top-tier UK FCA. |
| Fees score | 3.3 stars |
| Recommended for | Investors and traders looking for a great trading platform and solid research |
#4 Best online broker for day trading
ActivTrades
ActivTrades is a global forex broker founded in 2001. It is regulated by the UK's Financial Conduct Authority (FCA) and the Securities Commission of the Bahamas (SCB).
ActivTrades is considered safe because it has a long track record and it is regulated by the FCA, a top-tier financial authority.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
#4 ActivTrades
Fees
ActivTrades has low trading fees and average non-trading fees. As a plus, it charges no deposit and withdrawal fees in most cases.
| Pros | Cons |
|---|---|
| • Low trading fees | • Inactivity fee |
| • No withdrawal fee |
| Interactive Brokers | NinjaTrader | Saxo Bank | ActivTrades | XTB | |
|---|---|---|---|---|---|
| US futures | $2.5 | $3.5 | $40.0 | - | - |
| US options | $6.5 | - | $30.0 | - | - |
| EURUSD | $2.4 | - | $0.5 | - | $1.1 |
| US stock CFD | $1.2 | - | $10.2 | $1.2 | $8.2 |
#4 ActivTrades
Desktop trading platform
ActivTrade's desktop trading platform is provided by MetaTrader. It is highly customizable, has a clear fee report and you can set price alerts. On the other hand, it lacks a two-step login and the design is outdated.
| Pros | Cons |
|---|---|
| • Clear fee report | • No two-step (safer) login |
| • Good customizability (for charts, workspace) | • Poor design |
| • Price alerts |
| Interactive Brokers | NinjaTrader | Saxo Bank | ActivTrades | XTB | |
|---|---|---|---|---|---|
| Charting tool quality | Great | Great | Great | Great | Great |
| Number of technical indicators | 120 | 125 | 50 | 22 | 37 |
#4 ActivTrades
Deposit and withdrawal
ActivTrades offers free deposit and withdrawal options, including bank transfer, credit card and various e-wallets. On the negative side, minor currencies are not accepted.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Minor account currencies not available |
| • Free withdrawal | |
| • No deposit fee |
| Interactive Brokers | NinjaTrader | Saxo Bank | ActivTrades | XTB | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | Yes | No |
| Electronic wallets | No | No | No | Yes | No |
| Withdrawal fee | $0 | $40 | $0 | $0 | $0 |
| Withdrawal time | 2 days | 1 day | 1 day | >3 days | 1 day |
#4 ActivTrades
Markets and products
At ActivTrades, you can only trade forex and other CFDs. Other popular asset classes such as real stocks, bonds, mutual funds or options are not available.
| Interactive Brokers | NinjaTrader | Saxo Bank | ActivTrades | XTB | |
|---|---|---|---|---|---|
| Stocks | Yes | No | Yes | No | Yes |
| ETFs | Yes | No | Yes | No | Yes |
| Forex | Yes | No | Yes | Yes | Yes |
| Funds | Yes | No | Yes | No | No |
| Bonds | Yes | No | Yes | No | No |
| Options | Yes | Yes | Yes | No | No |
| Futures | Yes | Yes | Yes | No | No |
| CFDs | Yes | No | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | No | Yes |
#4 ActivTrades
Verdict
All in all, ActivTrades is a good CFD/forex broker.
ActivTrades has low trading fees. The account opening is excellent and the deposits and withdrawals are free.
On the downside, its product portfolio is limited to just a few products, as it offers mainly CFDs and forex instruments. Research tools are basic, and there are no trading ideas or fundamental data. There is an inactivity fee.
As trading fees are low and your account will be ready quickly, we encourage you to try ActivTrades.
| ActivTrades | |
|---|---|
| Summary | ActivTrades is a UK CFD and forex broker. It is regulated by the FCA and is available globally for clients. |
| Fees score | 4.4 stars |
| Recommended for | Forex and CFD traders looking for low fees and great deposit/withdrawal conditions |
#5 Best online broker for day trading
XTB
XTB is a global CFD and forex broker with headquarters in London and Warsaw, founded in 2002. The company is regulated by several financial authorities worldwide, including the top-tier UK Financial Conduct Authority (FCA). In addition, XTB is listed on the Warsaw Stock Exchange, and as such is required to disclose its financials.
XTB is considered safe because it has a long track record, is listed on a stock exchange, and publishes its financial statements transparently.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
#5 XTB
Fees
XTB has low forex fees and there is no withdrawal fee for most transfers. On the other hand, stock CFD fees are high, and XTB also charges an inactivity fee.
| Pros | Cons |
|---|---|
| • Low forex fees | • High stock CFD fees |
| • Free withdrawal for transfers above $100 |
| Interactive Brokers | NinjaTrader | Saxo Bank | ActivTrades | XTB | |
|---|---|---|---|---|---|
| US futures | $2.5 | $3.5 | $40.0 | - | - |
| US options | $6.5 | - | $30.0 | - | - |
| EURUSD | $2.4 | - | $0.5 | - | $1.1 |
| US stock CFD | $1.2 | - | $10.2 | $1.2 | $8.2 |
#5 XTB
Desktop trading platform
XTB's xStation 5 platform has a desktop version as well. In both functionality and design, it's exactly the same as the web trading platform.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step (safer) login |
| • Clear fee report | |
| • Good customizability (for charts, workspace) |
| Interactive Brokers | NinjaTrader | Saxo Bank | ActivTrades | XTB | |
|---|---|---|---|---|---|
| Charting tool quality | Great | Great | Great | Great | Great |
| Number of technical indicators | 120 | 125 | 50 | 22 | 37 |
#5 XTB
Deposit and withdrawal
XTB deposits and withdrawals are fast, mostly free, and can be done via several channels.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Few minor account currencies accepted |
| • Free withdrawal | |
| • No deposit fee |
| Interactive Brokers | NinjaTrader | Saxo Bank | ActivTrades | XTB | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | Yes | No |
| Electronic wallets | No | No | No | Yes | No |
| Withdrawal fee | $0 | $40 | $0 | $0 | $0 |
| Withdrawal time | 2 days | 1 day | 1 day | >3 days | 1 day |
#5 XTB
Markets and products
XTB's default selection includes only CFDs, forex and crypto. Some European clients can also trade real stocks and ETFs. Popular assets like bonds, mutual funds, options or futures are not available.
| Interactive Brokers | NinjaTrader | Saxo Bank | ActivTrades | XTB | |
|---|---|---|---|---|---|
| Stocks | Yes | No | Yes | No | Yes |
| ETFs | Yes | No | Yes | No | Yes |
| Forex | Yes | No | Yes | Yes | Yes |
| Funds | Yes | No | Yes | No | No |
| Bonds | Yes | No | Yes | No | No |
| Options | Yes | Yes | Yes | No | No |
| Futures | Yes | Yes | Yes | No | No |
| CFDs | Yes | No | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | No | Yes |
#5 XTB
Verdict
XTB is a great CFD and forex broker. It is regulated by several financial authorities globally, including the UK's FCA. The company is listed on the Warsaw Stock Exchange.
On the plus side, its forex fees are low, and the deposit and withdrawal process is fast and mostly free. We also liked the seamless and hassle-free account opening process.
XTB has some drawbacks, though. Stock CFD fees are high. The product range is mainly limited to FX and CFDs, although real stock and ETF trading is available in some European countries. Fundamental data offered by XTB covers only a few basics such as P/E.
We recommend XTB for clients who prefer forex or CFD trading, and also want to enjoy great deposit and withdrawal options along with fast account opening. Feel free to test it using a demo account.
| XTB | |
|---|---|
| Summary | XTB is a global CFD and forex broker, listed on the Warsaw Stock Exchange and regulated by financial authorities including the UK FCA, Poland's KNF, and Cyprus's CySec. |
| Fees score | 3.8 stars |
| Recommended for | Forex and CFD traders looking for low fees and great deposit/withdrawal service |
Best brokers for day trading in 2021 for European citizens
What makes a broker good for day trading
Now you know our top 5 brokers for day trading for Europeans. Let's go over how we arrived at this list by discussing three points:
- What is day trading?
- Why do we believe these brokers are safe?
- What were the most important factors when selecting the best brokers for day trading?
What is day trading?
Day trading means buying and selling financial instruments within the same trading day, sometimes even within minutes. It was once considered an activity suitable only for professionals and financial firms. However, the horizon opened up for enthusiasts like you with the 1975 deregulation of commissions in the US, the birth of online trading platforms in the 1990s and the stock price volatility experienced during the dot-com bubble around the year 2000.
Most day traders aim to close all their positions before the market closes for the trading day. To be an effective day trader, you must be flexible and adjust your techniques to match ever-changing market conditions. For example, you can employ a trend following strategy, where the trader assumes that financial instruments which have been rising (or falling) steadily will continue to trend in that direction. Another example is news playing, where you buy a stock when it announces good news, or sell when the news is negative.
Are these brokers safe?
As day trading is risky, it's very important to consider safety. The brokers on our list are all considered safe. You can be sure none of them is a scam. They are regulated by top-tier authorities. Some of them are also listed on an exchange, and some have a banking background.
How did we pick the best brokers for day trading?
We tested brokers along more than 300 criteria. Below, we show you the four most important criteria that we took into account.
| 1. Fees | As you're going to be making multiple trades within the same day, the lower the related fees and margins are the higher your profit can be. |
| 2. Desktop trading platform | The quality of a platform can affect things such as execution speed and price quotes. When you're making trades within the day, a trustworthy platform with good charting tools is essential. |
| 3. Withdrawal | The cheaper and faster you can withdraw your money, the better your day trading experience will be. |
| 4. Product range | Most day traders prefer complex products like forex or options. It's better to choose brokers that have expertise in a specific product. |
Best brokers for day trading in 2021 for European citizens
Bottom line
You've seen the details, now let's zoom out. Here are once again the best brokers for day trading in 2021 for European citizens:
| Interactive Brokers | NinjaTrader | Saxo Bank | ActivTrades | XTB | |
|---|---|---|---|---|---|
| Award | Best online broker | Best broker for futures | Best forex broker | Best CFD broker | |
| Fees score | 4.5 stars | 4.5 stars | 3.3 stars | 4.4 stars | 3.8 stars |
| Desktop platform score | 3.8 stars | 4.8 stars | 5.0 stars | 3.4 stars | 4.4 stars |
| Deposit and withdrawal score | 3.0 stars | 1.6 stars | 4.8 stars | 4.5 stars | 4.5 stars |
| Markets and products score | 5.0 stars | 1.7 stars | 5.0 stars | 1.4 stars | 2.8 stars |
Interactive Brokers is our winner, the best broker for day trading in 2021 for Europeans. Low trading fees. Wide range of products. Many great research tools.
All the other brokers in the top five are considered great choices as well. Watch out, however, as day trading can be risky. If you feel you know enough and are good to go, pick your winner and take the next step in your trading journey. Let us know what you think in the comment section.
Still unsure? Use our broker finder to find the best broker for you.
