Best Online Broker For Day Trading, Choose the Best Broker for Day Trading – What Is Day Trading And How Does It Work.

Choose the Best Broker for Day Trading:
Not all brokers are suited to a professional day trader. This article will help you choose the best broker for day trading. “Online brokers” cater to long-term investors by providing web-based platforms. “Direct-access brokers” provide downloadable platforms that allow day traders to send orders quickly and directly to any target. Unlike web-based platforms, “direct-access platforms” can be installed on a day trader’s home computer, where they provide faster execution, more features, and easier configuration than most web-based tools. To be a successful day trader, you must work only with direct-access brokers.
It’s completely natural to be wary of depositing money into the bank account of a broker you don’t know. If you want to sleep better at night, knowing that your money is safe, make sure that your broker is operating within the appropriate regulatory framework. This means that your money is supervised, is separated from the broker’s own ongoing activities, and is insured in the event that the brokerage firm gets into financial trouble. The insurance provided should not be only that of the broker, but also of a reliable, external organization. Clients of U.S. brokers are insured up to a limit of $500,000 per account if the broker is a member of the Securities Investor Protection Corp. (SIPC), while clients of European Union brokers enjoy the automatic cover of the ICF (Investor Compensation Fund) for up to €20,000 per account. The ICF covers all of Europe and insures every deposit, up to this amount, in every European financial organization.
Ask Questions When You Choose the Best Broker for Day Trading
The following 12 questions will help you choose the best broker for day trading. Whittle down your list of potential brokers according to the points you award to each one.
1. Is the broker well known? Does the broker have long-term experience operating according to the regulations?
2. Do the regulations under which the broker operates provide for insurance of your money? If so, what amount is covered?
3. What is the minimum execution cost?
4. How much will you pay beyond the minimum? (This is usually a fixed price per share.)
5. Will your broker allow you to deposit less than $25,000 and still operate as a day trader?
6. Will your broker allow you to trade on margin?
7. Does the broker collect a fixed monthly fee for providing a trading platform? If so, how much?
8. Does the broker collect a fixed monthly data fee for providing information of any kind?
9. Does the broker’s trading platform allow you to observe real-time charts?
10. Does the broker’s trading platform allow direct access to stock exchanges?
11. Is the broker’s trading platform a downloaded, installed, and dedicated application, or is it only web-based?
12. Will your broker let you perform simulated “paper trading” on a “demo platform”
After You Choose the Best Broker, Open Your Day Trading Account
After you’ve found a broker to your liking, check the broker’s website for information about opening a stock trading account. Opening a live trading account is a simple procedure. Most brokers will be happy to help you complete the process in one brief phone call, or you can look for the forms on the internet and complete them yourself. After the forms have been submitted and certified, you will be able to transfer money into your account. When the funds have been received and credited by the broker, usually within 24 to 48 hours, your account will be activated. You can then download the live trading platform and install it on your computer. When you first open the live day trading platform with your dedicated password, you will be able to see your initial deposit awaiting your order. The entire process should take between one to five days to complete.

———————————————————————————————————
Subscribe for NEW You Tube trading lesson here: https://youtube.com/user/TradenetGlobalUK?sub_confirmation=1
———————————————————————————————————
Helpful links:

Join my trading group: Get education & a Funded Account:
http://www.tradenet.com/join-funded-accounts/?affiliate_id=35955&affiliate_org=2&web_page=&placement=&campaign_id=7010O000000fKjw

Join a FREE 14 day trial in my live Trading Room: https://www.tradenet.com/14-day-free-trial/?affiliate_id=35955&affiliate_org=2&web_page=&placement=&campaign_id=7010O000000fKjw

View the FREE “Part one” of my trading book “The Market Whisperer” here: http://books.tradenet.com/

Buy my best selling book at Amazon:

Open a Colmex account (Non-US residents): https://services.colmexpro.com/registration/start.aspx

Contact Tradenet: info@tradenet.com
Contact Meir Barak: meir.barak@tradenet.com
Visit our website: www.tradenet.com
Germany: www.tradenet.de

Choose the Best Broker for Day Trading, Best Online Broker For Day Trading

What Is Day Trading And How Does It Work Choose the Best Broker for Day Trading.

Search Latest Articles About What Is Day Trading And How Does It Work.

  • Forex markets trade around the clock, 24/7. Unless you’re an expert trader, you simply don’t have the manpower or time to keep your eyes constantly on the market.
  • Luckily, numerous fundamental strategies exist to allow part-time investors to remain energetic as well as shield their settings even when they are far from their displays or perhaps asleep.
  • Stop-loss orders as well as automated profession entrance from digital trading platforms are just two ways to trade when you’re a part-timer.

Day Trading and Swing Trading the Currency Market - Book by Kathy LienForex for Beginners Book by Anna Coulling Currency Trading for Dummies Book by Brian Dolan 50 Pips a Day Forex Strategy Book by Laurentiu Damir