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Best brokers for day trading in 2022 for American citizens

Interactive Brokers Logo
1st place
Interactive Brokers
Webull Logo
2nd place
Webull
TD Ameritrade Logo
3rd place
TD Ameritrade

How did BrokerChooser pick the best brokers for day trading?

  • We checked whether the broker is regulated by a trusted regulator,
  • Compared fees (including spreads, withdrawal fee, commission),
  • Checked the quality of the desktop trading platform,
  • Checked the availability and fees of popular products to day trade,
  • Opened an account and tested the platform (charting, features, usability) with real money.
Save hours of research!
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology. Let's jump straight to the results.


Top 5 brokers for day trading in the US in 2022


  1. Interactive Brokers is the best broker for day trading in the US in 2022. - Low trading fees. Wide range of products. Many great research tools.
  2. Webull - Free stock, ETF and options trading. Fast and easy account opening. Great trading platforms.
  3. TD Ameritrade - Low trading fees (free stock and ETF trading). Superb desktop trading platform. Great customer support.
  4. Fidelity - Commission-free US stocks and ETFs. Great trading platforms and research. US and international stocks.
  5. Charles Schwab - Free stock and ETF trading. Outstanding research. Great customer service.

BrokerChooser evaluates 9 key areas for all brokers including fees, safety, ease of account opening, education, and trading platforms. We check more than 500 criteria for each broker and finetune our methodology every year based on our own and our users' experiences. We have more than 100 brokers reviewed on our site and our team of analysts examines more than 50,000 data points overall.

Best brokers for day trading in 2022 for American citizens
Key features of the best brokers for day trading

While many online brokers and trading platforms suitable for day trading offer an excellent service, the ones in our toplist go the extra mile.

Best brokers for day trading key data compiled for December 2022
Broker Fee class Minimum deposit Account activated in Credit/debit card deposit Pattern day trade rule applied
Interactive Brokers Low $0 1-3 days No Yes
Webull Low $0 1 day No Yes
TD Ameritrade Low $0 1-3 days No Yes
Fidelity Low $0 1-3 days No Yes
Charles Schwab Low $0 1 day No Yes

Best brokers for day trading in 2022 for American citizens
Trading fees at the best brokers for day trading

In most cases, the key broker selection criteria is how much you have to pay for a trade in commission, spreads and other trading costs, so we collected the most important such costs in the table below to help with your calculations.

Fees at the top brokers for day trading in December 2022
Interactive Brokers Webull TD Ameritrade Fidelity Charles Schwab
US stock fee per $2,000 trade $1.0 $0.0 $0.0 $0.0 $0.0
US stock options fee per 10 contracts $6.5 $0.0 $6.5 $6.5 $6.5
US micro e-mini index futures fee per 10 contracts $2.5 - $22.5 - $22.5
EUR/USD spread 0.1 - 1.3 - -

If you are unsure how brokerage fees work, check out this article on the various fees, charges and costs.

Best brokers for day trading in 2022 for American citizens
Non-trading fees at the top brokers for day trading

Non-trading fees are charges not directly related to a given trade and typically include the account maintenance fee, deposit/withdrawal fees, and the inactivity fee.

Interactive Brokers Webull TD Ameritrade Fidelity Charles Schwab
Account fee No No No No No
Inactivity fee No No No No No
Withdrawal fee $0 $0 $0 $0 $0
Deposit fee $0 $0 $0 $0 $0

Best brokers for day trading in 2022 for American citizens
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Best brokers for day trading in 2022 for American citizens
Charting tools at the best brokers for day trading

Charting is an essential feature for day traders. We tested the quality of charting services offered by these brokers and checked the number of technical indicators their clients have access to.

Interactive Brokers Webull TD Ameritrade Fidelity Charles Schwab
Charting quality Great Great Great Great Great
Technical indicators 127 68 400 37 56

Best brokers for day trading in 2022 for American citizens
What makes a good broker for day trading?

Our team of analysts assigned a greater weight to certain services offered by these brokers. Some of the most important aspects they considered were fees, charting tools, product selection as well as withdrawal methods and fees.

Trading on a daily basis can be exciting and offers the possibility of winning big. Whether you trade with your own money or with leverage, keep in mind that day trading is highly risky and you can suffer big losses. We advise that 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 this article on becoming a trader.

Important note: some of these brokers offer CFDs. These are complex and very risky products, thus not suitable for everyone. You can easily lose all your invested money when trading CFDs. To better understand CFDs and the risks involved, read this article on CFD trading tips compiled by our team of experts.

Best brokers for day trading in 2022 for American citizens
What is pattern day trading?

The pattern day trade (PDT) rule is applied to those trading in the US. The rule was laid out by the Financial Industry Regulatory Authority (FINRA) of the US to discourage people from trading excessively.

You will be considered a pattern day trader if you use a brokerage account regulated by FINRA and you:

  • execute 4 or more day trades within 5 business days and
  • the number of day trades represents more than 6% of your total trades in your margin account for that same five business day period.

There are two methods of counting day trades accepted by FINRA. Ask your brokerage firm for more details on how they count trades to determine if you’re a pattern day trader.

Pattern day traders must hold a minimum of $25,000 in their margin accounts in cash and/or eligible securities on any day that they trade. If the account balance falls below the regulatory minimum, the pattern day trader won’t be permitted to day trade until the account is restored to the $25,000 equity level.

Under FINRA rules, your brokerage firm is required to designate you as a pattern day trader if it knows or has a reasonable basis to believe that you’ll engage in pattern day trading. Once your account has been flagged as a pattern day trader account, your broker will continue to regard you as a pattern day trader, even if you don’t day trade for a five-day period. If you cease your day trading activities, you should contact your broker to discuss the appropriate coding of your account.

The pattern day trading rule does not apply to those who are trading in the UK, Europe, India, Australia or most other jurisdictions. It may apply to traders in Canada if the broker clears trades through the US securities exchange.

And now, let's see the top brokers for day trading one by one, starting with the winner, Interactive Brokers.

Interactive Brokers Logo

#1 Best online broker for day trading
Interactive Brokers

Recommended for traders looking for broad market access and a professional trading environment

Visit broker

Interactive Brokers snapshot
Minimum deposit $0
Desktop platform score 3.8 stars
Deposit methods Bank transfer
Withdrawal methods Bank transfer
Read review For a detailed analysis of Interactive Brokers services, check out our review for 2022
Webull Logo

#2 Best online broker for day trading
Webull

Recommended for investors and traders looking for zero-commission trading and easy platforms

Visit broker

Webull snapshot
Minimum deposit $0
Desktop platform score 5.0 stars
Deposit methods Bank transfer
Withdrawal methods Bank transfer
Read review For a detailed analysis of Webull services, check out our review for 2022
TD Ameritrade Logo

#3 Best online broker for day trading
TD Ameritrade

Recommended for investors and traders looking for solid research and a well-equipped desktop trading platform

Visit broker

TD Ameritrade snapshot
Minimum deposit $0
Desktop platform score 4.5 stars
Deposit methods Bank transfer
Withdrawal methods Bank transfer
Read review For a detailed analysis of TD Ameritrade services, check out our review for 2022
Fidelity Logo

#4 Best online broker for day trading
Fidelity

Recommended for investors and traders looking for solid research and great trading platforms

Visit broker

Fidelity snapshot
Minimum deposit $0
Desktop platform score 4.3 stars
Deposit methods Bank transfer, PayPal, Venmo, Apple Pay
Withdrawal methods Bank transfer, PayPal, Venmo, Apple Pay
Read review For a detailed analysis of Fidelity services, check out our review for 2022
Charles Schwab Logo

#5 Best online broker for day trading
Charles Schwab

Recommended for investors and traders looking for solid research, low fees and great customer service

Visit broker

Charles Schwab snapshot
Minimum deposit $0
Desktop platform score 4.0 stars
Deposit methods Bank transfer
Withdrawal methods Bank transfer
Read review For a detailed analysis of Charles Schwab services, check out our review for 2022

Best brokers for day trading in 2022 for American citizens
FAQ

What is day trading?

Day trading means buying and selling financial instruments within the same trading day, sometimes even within minutes. 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 on good news, or sell when the news is negative.

Where can I practice day trading?

To practice day trading, choose a broker that offers a demo account, also called paper trading. These accounts allow you to simulate real trading without using real money. Interactive Brokers and TradeStation, for instance, both have demo accounts.

When you practice day trading with a demo account, the best strategy is to use the same broker as you will for real trading. You will thus become familiar with the trading platform and the charting tools, which will boost your confidence once you decide to switch to real money.

Who is a pattern day trader?

This is a distinction used by US regulators to identify traders who execute four or more day trades within five business days on their margin account.

Pattern day traders must maintain minimum equity of $25,000 in their margin account on any day that they engage in day trading. If the account falls below the $25,000 requirement, the pattern day trader will not be permitted to day trade until the account is restored to the $25,000 minimum equity level.

There are no pattern day trading rules in Europe, Australia and Asia.

Want to understand trading in more detail?

Check out these articles written by our broker and trading experts:

Author of this article

Gyula Lencsés, CFA

Author of this article

Gyula Lencsés, CFA has more than 10 years of experience in the financial industry. He spent most of his career in the wealth management business as a portfolio manager of mutual funds. He has a trading experience in a wide range of asset classes, including stocks, ETFs, bonds, commodities, forex and derivatives markets.

Gyula Lencsés, CFA

Head of content

Gyula Lencsés, CFA has more than 10 years of experience in the financial industry. He spent most of his career in the wealth management business as a portfolio manager of mutual funds. He has a trading experience in a wide range of asset classes, including stocks, ETFs, bonds, commodities, forex and derivatives markets.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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