Day trading is a style of trading that can be used to make profits on minor price fluctuations over the course of the trading day. In this article, we review the 15 Best Day Trading Forex Brokers.
Day trading started in 1867 after the telegraph was invented and people used ticker tape to monitor daily stock market movements.
Now, brokers supply real-time price feeds and markets can be viewed live on exchanges. There are also plenty of signal providers and people use technical indicators for decision-making.
Day trading is often combined with other trading strategies and day traders will buy and sell stocks that have very volatile price activity.
Many day traders will buy on margin or leverage their trades because they have better chances of making profits on small price fluctuations throughout the day.
Day traders must have a good understanding of short-selling and an awareness of market sentiment is important.
Day trading, however, is considered to be one of the riskier methods of trading because the trader relies on market volatility to make short-term profits – but taking risks isn’t always a bad thing!
Day trading is not a long-term investment or an investment at all. It is based on technical analysis to capitalise on intraday market trends on a short-term basis.
For example, Pattern Day traders execute four or more trades within a five-day business week, and trades will be opened and closed on the same day and often multiple times.
Day Trading is not the same as Swing trading because swing traders may keep trades open for days or weeks at a time, but these are both short-term trading methods.
Trend trading is also short-term, but these trades are held for months at a time and are based on trends over longer periods.
We recommend practising on demo accounts first and deciding which strategies to combine with your day trading before you use real money.
Let’s take a look at some of the best brokers for day trading:
Exness
Overall Rating Rated #1 of USD 10 FSA, CBCS, FSC, FSC, FSCA, CySEC, FCA 📱 Platforms MT4, MT5 ₿ Crypto Yes 💵 Account Currency USD, EUR, ZAR, CHF, NZD, SGD, JPY, AUD Yes 1:unlimited 🛒 Instruments 100+ Forex, Cryptocurrencies, Energies, Metals, Shares, Stocks, Commodities 🏛️ Visit Broker
4.9/5
Recommended FX Brokers
Min. Deposit
Regulators
Islamic Account
Leverage
Exness is one of the best brokers for day trading because leverage is unlimited and the minimum deposit is only $10.
Exness is regulated by FSCA, CySEC, SFSA and FCA, and has over 100,000 clients.
Exness offers both standard and professional accounts and you can fund your account using JPY, CHF, AUD, SGD, USD, ZAR, EUR or NZD.
Exness also provides plenty of educational materials on the education website and content is available in more than 5 languages.
Pros and Cons of Exness:
| ✔️Pros | ❌Cons |
| CySEC-regulated | No trading bonus |
| Beginner-friendly | |
| 6+ base currencies | |
| 200+ instruments |
AvaTrade
USD 100 MiFID, FSA, ASIC, BVI, FFAJ, FSCA, ADMG, FRSA 📱 Platforms MetaTrader 4, MetaTrader 5 ₿ Crypto Yes 💵 Account Currency AUD, EUR, USD, GBP, CHF Yes 1:400 🛒 Instruments Forex, Bonds, Stocks, Commodities, ETFs, Indices, Crypto 🏛️ Visit BrokerMinimum Deposit Regulators Islamic Account Leverage
AvaTrade offers 4 types of accounts and is beginner-friendly.
AvaTrade was founded in 2006 and has more than 300,000 clients.
The minimum deposit required to open an account is $100 and accounts can be funded using USD, GBP, AUD, CHF or EUR.
AvaTrade offers a variety of ETFs, Stocks, Forex pairs, Bonds, Cryptocurrencies, Commodities and Indices.
Pros and Cons of AvaTrade:
| ✔️Pros | ❌Cons |
| Multiple accounts | No USA clients |
| Trading bonuses | Minimum deposit may be high for some |
| Suitable for beginners | |
| Many regulations |
XTB
Overall Rating USD 0 FCA, KNF, CySEC, IFSC 📱 Platforms xStation 5 ₿ Crypto Yes 💵 Account Currency EUR, USD, GBP, HUF Yes 📊 Leverage 1:500 🛒 Instruments 2,100+ Forex, Commodities, Indices, Crypto, Stocks, ETFs, CFDs 🏛️ Visit Broker
4.1/5
Minimum Deposit Regulators Islamic Account
XTB is regulated by CySEC, KNF, FCA and IFSC, and was founded in 2002.
XTB has more than 400,000 clients and offers over 2,100 Commodities, ETFs, Forex pairs, Indices, Cryptocurrecies, Stocks and CFDs.
No minimum deposit is required to open an account with XTB and it is a beginner-friendly broker.
Pros and Cons of XTB:
| ✔️Pros | ❌Cons |
| 2,100+ instruments | Inactivity fees |
| No minimum deposit | No USA clients |
| Tier-1 regulations | 1 base currency |
| Trading bonuses |
eToro
Overall Rating USD 50 FCA, CySEC, ASIC 📱 Platforms eToro app, OpenBook, eToro CopyTrade ₿ Crypto Yes 💵 Account Currency USD, AUD, CNY, CAD, GBP, EUR, JPY, RUB Yes 1:30 🛒 Instruments Stocks, Commodities, Indices, Forex, ETFs, Cryptocurrencies 🏛️ Visit Broker
4.2/5
Minimum Deposit Regulators Islamic Account Leverage
eToro has more than 25 million clients and is a popular NASDAQ100 broker.
eToro was founded in 2007 and is regulated by FCA, CySEC and ASIC.
eToro is recommended for beginners and there is a trading academy with plenty of guides and videos.
Pros and Cons of eToro:
| ✔️Pros | ❌Cons |
| Supports CopyTrading | Min. deposit may be high for some |
| Supports Social trading | Forex fees are high |
| Trading bonuses | Low leverage |
| Available to US clients |
IC Markets
Overall Rating USD 200 FSA, CySEC, ASIC 📱 Platforms MT4, MT5, cTrader ₿ Crypto Yes 💵 Account Currency AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, HKD, CHF Yes 1:500 🛒 Instruments Stocks, Commodities, Indices, Forex, Bonds, Crypto, Futures 🏛️ Visit Broker
4.8/5
Minimum Deposit Regulators Islamic Account Leverage
IC Markets was founded in 2007 and is a popular ECN broker that is regulated by FSA, CySEC and ASIC.
IC Markets offers 3 types of accounts and a minimum deposit of $200 is required to open an account.
IC Markets also offers MAM accounts and VPS, and accounts can be connected to MT4, MT5 and cTrader.
Pros and Cons of IC Markets:
| ✔️Pros | ❌Cons |
| Multiple accounts | No USA clients |
| Tier-1 regulations | High minimum deposit |
| 8+ base currencies |
HFM (HotForex)
Overall Rating USD 5 FCA, FSA, FSCA, DFSA, CySEC, FSC 📱 Platfoms MT4, MT5 ₿ Crypto No 💵 Account Currency USD, ZAR, USD, NGN Yes 1:1000 🛒 Instruments Forex, Metals, Energies, Indices, Shares, Commodities, Bonds, Stocks, ETFs 🏛️ Visit Broker
4.2/5
Minimum Deposit Regulators Islamic Account Leverage
HFM (formerly HotForex) is regulated by CySEC, FCA, DFSA, FSC, FSCA and FSA.
HFM was founded in 2010 and has more than 3 million clients.
A minimum deposit of $5 is required to open an HFm account and you can fund your account using USD, ZAR, USD or NGN.
HFM offers over 1,200 Energies, Shares, Indices, Commodities, Bonds, ETFs, Forex pairs, Stocks and Metals.
Pros and Cons of HF Marets:
| ✔️Pros | ❌Cons |
| 1,200+ instruments | Inactivity fee |
| 100% bonus | Withdrawal fee |
| Tight spreads | |
| Free deposits |
XM
Overall Rating USD 5 ESMA, CySEC, ASIC, FCA, IFSC, DFSA 📱 Platforms Desktop MT4 and MT5, Mobile MT4 and MT5, XM mobile app, Web platform ₿ Crypto No 💵 Account Currency USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB Yes 1:1000 🛒 Instruments Commodities, Forex, Stocks, Crypto, Metals, Shares, Energies 🏛️ Visit Broker
4.1/5
Minimum Deposit Regulators Islamic Account Leverage
XM has over 5 million clients and is a beginner-friendly broker that offers more than 1,000 Shares, Metals, Forex pairs, Cryptocurrencies, Stocks, Energies and Commodities.
XM was founded in 2009 and is regulated by DFSA, IFSC, ESMA, FCA, ASIC and CySEC.
XM accounts can be connected to MT4, MT5 and the XM mobile app.
Pros and Cons of XM:
| ✔️Pros | ❌Cons |
| 6+ account currencies | Inactivity fees |
| Low minimum deposit | No USA clients |
| Negative Balance Protection | |
| Highly regulated broker |
FXTM
Overall Rating USD 10 CySEC, FCA, FSC 📱 Platforms MT4, MT5, FXTM Trader ₿ Crypto No 💵 Account Currency USD, EUR, GBP, NGN Yes 1:2000 🛒 Instruments Metals, Stocks, CFDs, Indices, Forex, Commodities 🏛️ Visit Broker
4.1/5
Minimum Deposit Regulators Islamic Account Leverage
FXTM offers a leverage of 1:2000, which is great for margin day trading.
The minimum deposit required to open an FXTM account is only $10 and you can fund your account using GBP, NGN USD or EUR.
FXTM is regulated by FSC, FCA and CySEC, and has more than 2 million clients.
Pros and Cons of FXTM:
| ✔️Pros | ❌Cons |
| Beginner-friendly | No US clients |
| 2mil+ clients | Inactivity fees |
| Min. deposit is low |
Interactive Brokers
Overall Rating USD 0 USSEC, CFTC, ASIC, FCA 📱 Platforms Trader Workstation, IBKR mobile app, IBKR APIs ₿ Crypto No 💵 Account Currency AUD, CHF, TRY, USD, GBP, DKK, EUR, KRW, MXN, NZD, HKD, CAD, CNH, CZK, HUF, ILS, YEN, NOK, PLN, RUB, SGB, ZAR, SEK No 1:40 🛒 Instruments Forex, CFDs, Stocks, Options, Bonds, Mutual Funds, Commodities, Metals 🏛️ Visit Broker
4.3/5
Minimum Deposit Regulators Islamic Account Leverage
Interactive Brokers is regulated by ASIC, CFTC, USSEC and FCA, and is a beginner-friendly broker.
Interactive Brokers offers more than 7,000 Options, Metals, Bonds, Stocks, Commodities, Mutual Funds, CFDs and Forex pairs.
There is no minimum deposit to open an account and you can trade on Trader Workstation and the IBKR mobile app.
Pros and Cons of Interactive Brokers:
| ✔️Pros | ❌Cons |
| Educational content provided | No swap-free account |
| No minimum deposit | Low leverage |
| 20+ account currencies | |
| ASIC-regulated |
TD Ameritrade
Overall Rating USD 0 SEC, FINRA, CFTC 📱 Platforms thinkorswim ₿ Crypto Yes 💵 Account Currency USD No 1:2 🛒 Instruments Stocks, Forex, Bonds, ETFs, Crypto, Options, Futures 🏛️ Visit Broker
2.4/5
Minimum Deposit Regulators Islamic Account Leverage
TD Ameritrade was founded in 1975 and is a US-based stockbroker.
TD Ameritrade is a beginner-friendly broker that offers a proprietary platform called thinkorswim.
No minimum deposit is required to open an account with TD Ameritrade and you can trade a variety of Cryptocurrencies, ETFs, Options, Bonds, Forex pairs, Futures Stocks.
Pros and Cons of TD Ameritrade:
| ✔️Pros | ❌Cons |
| Beginner-friendly | 1 base currency |
| Zero-commission trading | Low leverage |
| No min. deposit | |
| Available to US clients |
FP Markets
Overall Rating USD 100 ASIC, CySEC 📱 Platforms MetaTrader 4, MetaTrader 5 ₿ Crypto Yes 💵 Account Currency EUR, GBP, USD, AUD, CAD, SGD, HKD, JPY, NZD, CHF Yes 1:500 🛒 Instruments Forex, Shares, Metals, Indices, Commodities, crypto 🏛️ Visit Broker
4.7/5
Minimum Deposit Regulators Islamic Account Leverage
FP Markets was founded in 2005 and is regulated by ASIC and CySEC.
FP Markets offers more than 10,000 Forex pairs, Shares, Metals, Indices, Commodities and cryptocurrencies.
FP Markets also offers free VPS and is a great platform for social traders and beginners.
Pros and Cons of FP Markets:
| ✔️Pros | ❌Cons |
| 8+ Base currencies | Withdrawal fees |
| Tier-1 regulations | Min. deposit may be high for some |
| Commission-free trading |
Markets.com
Overall Rating USD 100 CySEC, ASIC, FSCA 📱 Trading Desk MT4, MarketsX, Marketsi, MT5 ₿ Crypto Yes 📈 Total Pairs 65 Yes Low 🕒 Account Activation Time 24 Hours 🏛️ Visit Broker
3.7/5
Minimum Deposit Regulators Islamic Account Trading Fees
Markets.com was founded in 2008 and is a CySEC and ASIC-regulated forex broker.
Markets.com offers two proprietary platforms (MarketsX and Marketsi) and over 2,200 Forex pairs, Commodities, CFDs, ETFs, Bonds, Cryptocurrencies, Indices, Blends and Shares.
A minimum deposit of $100 is required to open an account and you can fund your account using CZK, AUD, CHF, PLN, ZAR, GBP, NOK, EUR, SEK, USD or DKK.
Pros and Cons of Markets.com:
| ✔️Pros | ❌Cons |
| 2,200+ CFDs | No trading bonuses |
| Supports MetaTrader | Inactivity fees |
| 10+ base currencies | |
| Tight spreads |
Pepperstone
Overall Rating USD 200 ASIC, FCA, DFSA, SCB, CMA, CySEC, BaFIN 📱 Platforms MT4, MT5, cTrader ₿ Crypto Yes 💵 Account Currency USD, GBP Yes Low 🛒 Instruments Forex, Crypto, Shares, ETFs, Indices, Commodities 🏛️ Visit Broker
4.0/5
Minimum Deposit Regulators Islamic Account Leverage
Pepperstone has more than 300,000 clients and offers a wide range of ETFs, Shares, Forex pairs, Indices, Commodities and Cryptocurrencies.
Pepperstone is regulated by ASIC, CMA, SCB, FCA, CySEC, BaFIN and DFSA.
Pepperstone offers commission-free trading and tight spreads and is a great option for beginners who need educational resources.
Pros and Cons of Pepperstone:
| ✔️Pros | ❌Cons |
| Tier-1 regulations | High min. deposit |
| Trading bonuses | Low leverage |
| Commission-free trading | |
| No inactivity fee |
Saxo Bank
Overall Rating USD 2000 FCA, ASIC, FSC, JFSA, FSA, MAS 📱 Trading Desk SaxoTraderGO, SaxoTraderPRO ₿ Crypto Yes 📈 Total Pairs 182 No Low 🕒 Account Activation Time 24 Hours 🏛️ Visit Broker
4.3/5
Minimum Deposit Regulators Islamic Account Trading Fees
Saxo Bank offers a loyalty program with an innovative point system and different account tiers.
Saxo Bank has over 800,000 clients and is regulated by FCA, FSA, ASIC, JFSA, FSC and MAS.
With Saxo Bank, you can trade over 40,000 ETFs, Futures, Cryptocurrencies, Forex pairs, CFDs, Options, Bonds and Stocks.
Pros and Cons of Saxo Bank:
| ✔️Pros | ❌Cons |
| Loyalty program | High min. deposit |
| Highly regulated | Low leverage |
| Free withdrawals | Inactivity fees |
| Low forex fees |
Forex.com
Overall Rating USD 100 FCA, IIROC, ASIC, CFTC 📱 Platforms MT4, MT5, Forex.com apps ₿ Crypto Yes 💵 Account Currency EUR, GBP, USD No 📊 Leverage 1:40 🛒 Instruments Forex, Indices, Stocks, Commodities, Metals, Crypto 🏛️ Visit Broker
3.9/5
Minimum Deposit Regulators Islamic Account
Forex.com was founded in 2001 and is based in the US.
Forex.com has over 70,000 clients and is regulated by CFTC, FCA, ASIC and IIROC.
Forex.com offers 3 types of accounts and more than 9,500 Indices, Commodities, Forex pairs, Metals, Cryptocurrencies and Stocks.
Forex.com is a great option for beginners and high-volume traders.
Pros and Cons of Forex.com:
| ✔️Pros | ❌Cons |
| 9,500+ instruments | No swap-free accounts |
| ASIC-regulated | Inactivity fees |
| Beginner-friendly |
Conclusion
So are you considering day trading? If you are, ask yourself if you have the time to watch markets all day, if you have the experience to know when to open and close trades and if you have the capital and technology to succeed.
Day trading is a great option for making short-term profits on small price fluctuations and lets you capitalize on market movements.
We hope that this review of the 15 Best Day Trading Forex Brokers helps you choose a broker that is right for you.
Good luck with your trading!
Disclaimer
Remember, 75% of retail investors lose money when trading CFDs and there is a high risk of losing your capital in the forex markets.
The information on this website is in no way intended to be used as financial advice and opening an account with any broker is done at your own discretion and risk.
