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 2022 for American citizens. After thorough research and discussions with experienced day traders, we put together a list of the top 5 brokers. Let's see the winners!
Our top 5 picks for the best brokers for day trading in 2022 in the US are:
- Interactive Brokers - the best broker for day trading in 2022. Low trading fees. Wide range of products. Many great research tools.
- Webull takes second place. Free stock, ETF and options trading. Fast and easy account opening. Great trading platforms.
- TD Ameritrade rounds out the top three. Low trading fees (free stock and ETF trading). Superb desktop trading platform. Great customer support.
- Fidelity came in at number four. Commission-free US stocks and ETFs. Great trading platforms and research. US and international stocks.
- Charles Schwab just made it to the list in fifth place. Free stock and ETF trading. Outstanding research. Great customer service.
| Name | Info | Score | |
|---|---|---|---|
| #1 | Interactive Brokers | International broker providing all asset classes | 4.9 |
| #2 | Webull | US discount broker | 4.6 |
| #3 | TD Ameritrade | US-based stockbroker | 4.7 |
| #4 | Fidelity | US stockbroker | 4.7 |
| #5 | Charles Schwab | US discount 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.
And now, let's go over the best online brokers for day trading in 2022 for American citizens one by one. Starting with the winner, Interactive Brokers.
#1 Best online broker for day trading
Interactive Brokers
Interactive Brokers, one of the biggest US-based discount brokers, was founded in 1977. 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.
Interactive Brokers recently launched a new app for global stock trading: read our review of IBKR GlobalTrader.
In addition, Interactive Brokers also has an app you can use for ESG investing: read our review of IMPACT by Interactive Brokers.
#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 | Webull | TD Ameritrade | Fidelity | Charles Schwab | |
|---|---|---|---|---|---|
| US stocks | $1.0 | $0.0 | $0.0 | $0.0 | $0.0 |
| US futures | $2.5 | - | $22.5 | - | $15.0 |
| US index options | $6.5 | $0.0 | $6.5 | $6.5 | $6.5 |
| EURUSD | $2.4 | - | $2.7 | - | - |
#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 | Webull | TD Ameritrade | Fidelity | Charles Schwab | |
|---|---|---|---|---|---|
| Quality | Great | Great | Great | Great | Great |
| Number of technical indicators | 127 | 68 | 400 | 37 | 56 |
#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 | Webull | TD Ameritrade | Fidelity | Charles Schwab | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | Yes |
| ETFs | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | No | Yes | No | No |
| Funds | Yes | No | Yes | Yes | Yes |
| Bonds | Yes | No | Yes | Yes | Yes |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | No | Yes | No | 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
Webull
Webull is a US-based fintech startup offering zero-fee or discount brokerage services. Founded in 2017, the company is regulated by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) as well as the Hong Kong Securities and Futures Commission (SFC).
Check out our Webull review tailored to the needs of beginner investors and traders.
Webull is regulated by top-tier financial authorities and provides a maximum of $500,000 investor protection, including a $250,000 limit for cash under the Securities Investor Protection Corporation's (SIPC) protection scheme, which are all great signs for its safety.
#2 Webull
Fees
Webull offers commission-free trading for US-listed stocks, ETFs and options. There is no withdrawal fee for ACH transfers and no inactivity fee. However, wire transfer fees are high.
| Pros | Cons |
|---|---|
| • No commission (for stocks, ETFs, options) | • High wire transfer costs |
| • ACH transfers are free for funding & payout |
| Interactive Brokers | Webull | TD Ameritrade | Fidelity | Charles Schwab | |
|---|---|---|---|---|---|
| US stocks | $1.0 | $0.0 | $0.0 | $0.0 | $0.0 |
| US futures | $2.5 | - | $22.5 | - | $15.0 |
| US index options | $6.5 | $0.0 | $6.5 | $6.5 | $6.5 |
| EURUSD | $2.4 | - | $2.7 | - | - |
#2 Webull
Desktop trading platform
Webull's desktop trading platform has the exact same functionalities and design as the web trading platform.
| Pros | Cons |
|---|---|
| • User-friendly | None |
| • Good customizability (for charts, workspace) | |
| • Good variety of order types |
| Interactive Brokers | Webull | TD Ameritrade | Fidelity | Charles Schwab | |
|---|---|---|---|---|---|
| Quality | Great | Great | Great | Great | Great |
| Number of technical indicators | 127 | 68 | 400 | 37 | 56 |
#2 Webull
Markets and products
Webull has a limited product portfolio that includes only US stocks, ETFs and options. Popular asset types such as funds, bonds and forex are not available.
| Interactive Brokers | Webull | TD Ameritrade | Fidelity | Charles Schwab | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | Yes |
| ETFs | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | No | Yes | No | No |
| Funds | Yes | No | Yes | Yes | Yes |
| Bonds | Yes | No | Yes | Yes | Yes |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | No | Yes | No | Yes |
| Crypto | Yes | Yes | Yes | No | Yes |
#2 Webull
Verdict
Webull's fee structure is truly appealing. You can trade US stocks, ETFs and options commission-free. The account opening is easy, fully digital, and fast while the trading platforms are easy to use and well-structured.
Webull has some drawbacks though. The product portfolio is quite limited, covering only stocks, ETFs and options. You can use only bank transfers for deposits and withdrawals, and wire transfers carry a fee in both directions. Phone and email customer support are hard to reach.
As the account opening is seamless and Webull offers commission-free stock and ETF trades, feel free to try it.
| Webull | |
|---|---|
| Summary | Webull is a discount US stockbroker regulated by the top-tier US SEC and FINRA as well as the Hong Kong SFC. |
| Fees score | 4.8 stars |
| Recommended for | Investors and traders looking for zero-commission trading and easy platforms |
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#3 Best online broker for day trading
TD Ameritrade
If you are an experienced trader looking for solid research and a well-equipped desktop trading platform, we definitely recommend TD Ameritrade.
Founded in 1975, TD is one of the biggest US-based stockbrokers and is regulated by top-tier authorities like the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Commodity Futures Trading Commission (CFTC).
This online broker is considered safe as it has a long track record, is listed on a stock exchange, has a banking background, discloses its financials and is overseen by top-tier regulators.
#3 TD Ameritrade
Fees
TD Ameritrade offers free stock and ETF trading, while forex, bond and options fees are also low. On the other hand, it charges high fees for futures.
| Pros | Cons |
|---|---|
| • Low trading fees | • High fund fees |
| • Low non-trading fees | |
| • Free stocks and ETFs |
| Interactive Brokers | Webull | TD Ameritrade | Fidelity | Charles Schwab | |
|---|---|---|---|---|---|
| US stocks | $1.0 | $0.0 | $0.0 | $0.0 | $0.0 |
| US futures | $2.5 | - | $22.5 | - | $15.0 |
| US index options | $6.5 | $0.0 | $6.5 | $6.5 | $6.5 |
| EURUSD | $2.4 | - | $2.7 | - | - |
#3 TD Ameritrade
Desktop trading platform
The 'thinkorswim' desktop platform is one of the best on the market, we really liked it. The only feature we missed was two-step authentication.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step (safer) login |
| • Good customizability (for charts, workspace) | |
| • Good variety of order types | |
| • Trading support functions | |
| • Great learning materials |
| Interactive Brokers | Webull | TD Ameritrade | Fidelity | Charles Schwab | |
|---|---|---|---|---|---|
| Quality | Great | Great | Great | Great | Great |
| Number of technical indicators | 127 | 68 | 400 | 37 | 56 |
#3 TD Ameritrade
Markets and products
You can trade many asset classes, from stocks to futures and forex, while nice extras include social trading and robo-advisory. On the other hand, only the US market is covered.
| Interactive Brokers | Webull | TD Ameritrade | Fidelity | Charles Schwab | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | Yes |
| ETFs | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | No | Yes | No | No |
| Funds | Yes | No | Yes | Yes | Yes |
| Bonds | Yes | No | Yes | Yes | Yes |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | No | Yes | No | Yes |
| Crypto | Yes | Yes | Yes | No | Yes |
#3 TD Ameritrade
Verdict
TD is one of the biggest US online brokers and it charges no commission on stock and ETF trades.
Research and education are outstanding, the thinkorswim desktop platform is one of the best on the market, and customer service is great.
There are a few drawbacks, most notably high financing (margin) rates, and the fact that credit/debit cards and electronic wallets are not accepted for money transfers. Furthermore, the product portfolio covers only US markets.
We definitely recommend giving TD a try, especially as their education tools include a demo account.
| TD Ameritrade | |
|---|---|
| Summary | TD Ameritrade is a US stockbroker regulated by top-tier authorities SEC and FINRA. The company is listed on NASDAQ and has a banking background as part of the TD Group. The brokerage was acquired by Charles Schwab Corporation in 2020. Client account conversion is expected between April and September of 2023. |
| Fees score | 4.2 stars |
| Recommended for | Investors and traders looking for solid research and a well-equipped desktop trading platform |
#4 Best online broker for day trading
Fidelity
Fidelity is a US stockbroker founded in 1946. It is regulated by top-tier authorities like the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Fidelity is considered safe because it has a long track record and is regulated by top-tier financial authorities.
#4 Fidelity
Fees
Fidelity has low trading and non-trading fees, including commission-free stock trading. On the negative side, margin rates and fees for some mutual funds can be high.
| Pros | Cons |
|---|---|
| • Free stock and ETF trading | • High fees for non-free mutual funds |
| • Low bond fees | • High margin rates |
| • No inactivity fee |
| Interactive Brokers | Webull | TD Ameritrade | Fidelity | Charles Schwab | |
|---|---|---|---|---|---|
| US stocks | $1.0 | $0.0 | $0.0 | $0.0 | $0.0 |
| US futures | $2.5 | - | $22.5 | - | $15.0 |
| US index options | $6.5 | $0.0 | $6.5 | $6.5 | $6.5 |
| EURUSD | $2.4 | - | $2.7 | - | - |
#4 Fidelity
Desktop trading platform
Fidelity's desktop platform is highly customizable, offers many order types and has a clear fee report.
| Pros | Cons |
|---|---|
| • Clear fee report | • Not as quick to load as competing platforms |
| • Good customizability (for charts, workspace) | |
| • Good variety of order types |
| Interactive Brokers | Webull | TD Ameritrade | Fidelity | Charles Schwab | |
|---|---|---|---|---|---|
| Quality | Great | Great | Great | Great | Great |
| Number of technical indicators | 127 | 68 | 400 | 37 | 56 |
#4 Fidelity
Markets and products
Fidelity offers a lot of different trading products, from stocks to options, including international stocks. However, forex and futures trading is not available.
| Interactive Brokers | Webull | TD Ameritrade | Fidelity | Charles Schwab | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | Yes |
| ETFs | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | No | Yes | No | No |
| Funds | Yes | No | Yes | Yes | Yes |
| Bonds | Yes | No | Yes | Yes | Yes |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | No | Yes | No | Yes |
| Crypto | Yes | Yes | Yes | No | Yes |
#4 Fidelity
Verdict
Fidelity is one of the biggest US stockbrokers and is regulated by top-tier authorities.
Fidelity offers commission-free US stocks and ETFs. The trading platforms and research are outstanding, with many tools including trading ideas and detailed fundamental data. The offered range of products includes international stock exchanges in addition to the US market, which is not common among US brokers.
Fidelity has some drawbacks, though. Some mutual funds have high fees, and the margin rates are high as well. You can't trade cryptos or futures.
As it has great research tools, a user-friendly web trading platform, and charges no inactivity fee, feel free to try Fidelity's services.
| Fidelity | |
|---|---|
| Summary | Fidelity is a US stockbroker. It is regulated by top-tier authorities SEC and FINRA. |
| Fees score | 3.9 stars |
| Recommended for | Investors and traders looking for solid research and great trading platforms |
#5 Best online broker for day trading
Charles Schwab
Charles Schwab is a US discount broker that was founded in 1971 and is listed on the New York Stock Exchange.
It is regulated by several top-tier financial authorities, such as the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
#5 Charles Schwab
Fees
Charles Schwab offers free trading for stocks and ETFs, as well as some mutual funds and bonds, while non-trading fees are low. On the negative side, some fund fees are high.
| Pros | Cons |
|---|---|
| • Free stock/ETF trading | • High fees for non-free mutual funds |
| • Free trading for some funds/bonds | |
| • Low non-trading fees |
| Interactive Brokers | Webull | TD Ameritrade | Fidelity | Charles Schwab | |
|---|---|---|---|---|---|
| US stocks | $1.0 | $0.0 | $0.0 | $0.0 | $0.0 |
| US futures | $2.5 | - | $22.5 | - | $15.0 |
| US index options | $6.5 | $0.0 | $6.5 | $6.5 | $6.5 |
| EURUSD | $2.4 | - | $2.7 | - | - |
#5 Charles Schwab
Desktop trading platform
Charles Schwab has a great desktop trading platform that is highly customizable, offers many order types and has a clear fee report. However, it is available only for Windows.
| Pros | Cons |
|---|---|
| • Clear fee report | • Only for Windows |
| • Good customizability (for charts, workspace) | |
| • Good variety of order types |
| Interactive Brokers | Webull | TD Ameritrade | Fidelity | Charles Schwab | |
|---|---|---|---|---|---|
| Quality | Great | Great | Great | Great | Great |
| Number of technical indicators | 127 | 68 | 400 | 37 | 56 |
#5 Charles Schwab
Markets and products
At Charles Schwab, you can trade a lot of different asset classes, from stocks to futures. Unfortunately, the product portfolio covers only US and Canadian markets.
| Interactive Brokers | Webull | TD Ameritrade | Fidelity | Charles Schwab | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | Yes |
| ETFs | Yes | Yes | Yes | Yes | Yes |
| Forex | Yes | No | Yes | No | No |
| Funds | Yes | No | Yes | Yes | Yes |
| Bonds | Yes | No | Yes | Yes | Yes |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | Yes | No | Yes | No | Yes |
| Crypto | Yes | Yes | Yes | No | Yes |
#5 Charles Schwab
Verdict
Charles Schwab is one of the biggest discount US brokers, regulated by top-tier authorities.
It was one of the first brokers, starting in late 2019, to charge no commissions for stock and ETF trades. Its research is outstanding, covering many tools, including trading ideas, Morgan Stanley analyst reports on equities, and detailed fundamental data. Customer service is great, providing relevant answers within a short time.
It does have some drawbacks, though. Except for the around 4,000 mutual funds that are free to trade, mutual fund costs are high and the product portfolio covers only US and Canadian markets. Lastly, the educational platform is not well-structured.
As trading and non-trading fees are generally low, research tools are great and the account opening is seamless, feel free to try Charles Schwab.
| Charles Schwab | |
|---|---|
| Summary | Charles Schwab is a US discount broker, regulated by top-tier US authorities the SEC and FINRA. The company is listed on the New York Stock Exchange and holds a banking license. |
| Fees score | 4.4 stars |
| Recommended for | Investors and traders looking for solid research, low fees and great customer service |
Best brokers for day trading in 2022 for American citizens
What makes a broker good for day trading?
Now you know our top 5 brokers for day trading in the US. 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 test brokers along nearly 500 criteria. Here are the most important ones that we took into account.
| 1. Fees | Fees can massively eat into day trader's profits, so we selected brokers where you can minimize those fees and commissions. |
| 2. Desktop trading platform | When you're making trades within the day, a trustworthy platform with good charting tools and speedy execution is essential. |
| 3. Withdrawal | The cheaper and faster you can move your money, the better your day trading experience will be. |
| 4. Product range | Some day traders prefer complex products like forex or options. It's better to choose brokers that have a wide range of available assets. |
Best brokers for day trading in 2022 for American citizens
Bottom line
You've seen the details, now let's zoom out. Here are once again the best brokers for day trading in 2022 for American citizens:
| Interactive Brokers | Webull | TD Ameritrade | Fidelity | Charles Schwab | |
|---|---|---|---|---|---|
| Award | Best online broker | ||||
| Fees score | 4.5 stars | 4.8 stars | 4.2 stars | 3.9 stars | 4.4 stars |
| Desktop platform score | 3.8 stars | 5.0 stars | 4.5 stars | 4.3 stars | 4.0 stars |
| Deposit and withdrawal score | 3.0 stars | 1.9 stars | 1.9 stars | 3.8 stars | 2.2 stars |
| Markets and products score | 5.0 stars | 2.8 stars | 3.8 stars | 3.6 stars | 3.0 stars |
Interactive Brokers is our winner, the best broker for day trading in 2022 in the US. 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 tool to find the best broker for you.
