For newbies wanting to get into day trading, the best brokers have good learning stuff, a practice account, a simple platform, and don’t need a lot of money to start. We checked out the top platforms that have all of these things for people just starting out.
75.5 % of retails CFD accounts lose money
75.5 % of retails CFD accounts lose money
74-89% of retails CFD accounts lose money
IG | Pepperstone | XTB | eToro | InstaForex | |
Minimum Deposit | $0 | $0 | $0 | $50 | $1 |
Demo Account Balance | $10k | $50k | $100k | $100k | $50k |
Education Rating | 5/5 | 4.3/5 | 4.2/5 | 4.5/5 | 4.1/5 |
Platform Rating | 4.8/5 | 4.2/5 | 4.2/5 | 4.1/5 | 4.1/5 |
Support Rating | 4.5/5 | 4.8/5 | 4.2/5 | 3.5/5 | 3.7/5 |
IG is still on top, thanks to its great learning stuff that teaches new day traders all the basic things they should know. The fact that you don’t need any money to start, plus their unlimited practice account and easy-to-use online platform, makes them a really good broker if you’re just getting into day trading.
Pepperstone is another great option if you’re getting into day trading. It’s simple to set up an account, their customer service is great, and they have a ton of copy trading tools. Also, they provide Capitalise.ai, which lets you create automated trading systems even if you don’t know how to code. That’s pretty awesome.
XTB is high on our list because their xStation platform is easy for new day traders to get into. Plus, they let you trade with small amounts and even own parts of shares, which makes it easier to start. In some places, XTB also pays you interest on the money you haven’t invested yet, which is a cool perk if you’re just starting out in the market.
We’ve been trading on eToro for ages, and it’s still a great choice for beginners. Their social investing thing is top-notch, and the app is clearly built for new traders. Plus, it has really good charting tools.
In our look at beginner-friendly day trading brokers, InstaForex was a top pick. They have tons of helpful learning stuff and cool demo contests to test out trading moves. Signing up is super easy, and they have support going 24/7, so getting started is a breeze for anyone new to trading.
To find the best day trading platforms for people just starting out, we checked out our list of 227 brokerages. We then chose the ones that were good or even better based on these things:
IG is the best day trading broker for beginners based on our in-depth tests. Runners up in our rankings are Pepperstone, XTB, eToro, and InstaForex.
As a new day trader, look for a broker with a low minimum deposit requirement, ideally below $50. This will allow you to start day trading with a smaller investment, reducing your financial risk as you gain experience in live markets.
Choose a day trading broker that offers a comprehensive range of educational resources. This includes videos, webinars, and downloadable guides, catering to different learning styles. A brokerage with a depth of educational content is valuable, as it ensures you can continue learning and developing your day trading skills.
Effective customer support is also crucial, especially for beginners. Look for brokers that offer reliable, responsive, and preferably 24/7 customer support, with services like live chat. This ensures that you can get help quickly whenever you need it.
In addition, an easy-to-navigate yet sophisticated trading platform is essential for a smooth trading experience. Platforms that offer additional tools like copy trading and demo accounts are also advantageous for aspiring traders.
Think Forex Brokers provides independent comparisons of regulated brokers across forex, stocks, and crypto. Information is for educational purposes only and should not be taken as financial advice. Always verify broker regulation before trading
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