• News
  • Celebrities
  • Finance
  • Crypto
  • Travel
  • Entertainment
  • Health
  • Others

What Is A Day Trading Platform

When you buy a stock and then sell it before the market closes, you're making a day trade. Keeping expenses low is just as crucial to day traders as making money by buying and selling (or shorting and covering).

Having made over 2,500 trades, I can tell you that having a dependable day trading platform equipped with the trading tools you need is essential. Here's what a day trading platform is all about.

What Is A Trading Platform

To trade electronically, you must utilize a computer software application called an electronic internet trading platform. Direct-access brokers are distinct from trading platforms. Trading these two as one, on the other hand, is something I see rather often. Your order is sent to the exchange and placed there via the trading platform, allowing the direct-access brokers to clear it for you. Direct-access brokers often provide their customers with access to their own custom trading platform.

To put it simply, there is a wide range in the quality, charting capabilities as well as speed and performance of the program. Many brokers charge a monthly cost for their platform, but if you generate enough commissions for the broker, they may eliminate that price. Trader Workstation (TWS) is a trading platform offered by Interactive Brokers, however DAS Trader may also be used. Lightspeed Trading, the company's proprietary trading platform, is also available. In-house TD Ameritrade software is known as thinkorswim (pronounced The DAS Trader platform is used by CenterPoint Securities.

What Are The Well-known Direct-Access Brokers For Day-trading

Here are some of the well-known direct-access broker for day-trading:

  • Broker Trading Platform PDT Restriction Based In Interactive Brokers TWS or DAS Pro Yes USA
  • CenterPoint
  • Securities
  • DAS Pro Yes USA
  • Lightspeed Lightspeed Trader Yes USA
  • TD Ameritrade thinkorswim Yes USA
  • cottrade ScottradeELITE Yes USA
  • E*TRADE OptionsHouse Yes USA
  • Alliance Trader DAS Pro No Jamaica
  • CMEG DAS Pro No Trinidad and Tobago
  • SureTrader DAS Pro No Bahamas

TWS, the proprietary trading platform offered by Interactive Brokers, is not suitable for day trading. It is one of four NASDAQ Platinum Partner order entry systems that provide the most efficient execution and market functionality for online traders. DAS Trader Because DAS Trader isn't a broker, traders may connect their IB trading accounts to it instead. DAS will submit their orders to NASDAQ data centers, and Interactive Brokers will fill their orders as their clearing company.

A person typing on a keyboard with two monitors
A person typing on a keyboard with two monitors

Fast-Trade Execution Is The Key

Day traders must be able to execute their trades quickly to be successful. You must be able to swiftly switch between different transactions. In order to execute transactions as quickly as possible, your broker must employ a platform or software that has Hotkeys.

Summary

We have no idea how many times a quick rise in the stock price resulted in a $1,000 profit for a trader. It's important to be able to make money rapidly when the stock price rises. Fumbling with your orders is the last thing you want to do. As a result, we strongly suggest both a reputable broker and an order execution platform that is known for its lightning-fast speeds.

About The Authors

William Willis

William Willis - William Willis is a freelance writer and social media manager who specializes in assisting finance professionals and Fintech entrepreneurs in growing their online audience and attracting more paying customers. William worked as a bank teller and virtual assistant for financial firms in the United States and the United Kingdom for six years before beginning her writing career. William is a strong force in the workplace, inspiring others to work hard and excel with her optimistic attitude and boundless energy. He enjoys hiking, crocheting, and playing video games with her grandchildren in her spare time.

Recent Articles

  • Crypto Accessories Every Crypto Holder Should Know About

    Crypto Accessories Every Crypto Holder Should Know About

    These days, crypto accessories and gadgets can be found everywhere. There is a vast selection of products available for purchase, ranging from cryptocurrency wallets to devices that make buying and storing NFTs easier. If you enjoy cryptocurrencies and would like to own some, trade some, and play around with it, read on. These Bitcoin accessories will quickly become some of your favorite electronic gizmos.

  • MoviesCouch Hollywood Movies Download – Down, Down The Drain

    MoviesCouch Hollywood Movies Download – Down, Down The Drain

    It looks like one site will let down film lovers who used to frequent it for movies that they can download for free. If you’re looking for MoviesCouch Hollywood movies download, prepare to be disappointed.

  • Best Lotion For Jerking Off That Won't Damage Your Skin In 2022

    Best Lotion For Jerking Off That Won't Damage Your Skin In 2022

    Many people nowadays are looking for the best lotion for jerking off that will enhance their self-pleasure moments while not harming their skin.

  • Gerard Butler Net Worth - The Real Leonidas Of Sparta

    Gerard Butler Net Worth - The Real Leonidas Of Sparta

    The Scottish actor Gerard Butler net worth is $40 million. Gerard originally majored in law, but he gradually drifted toward acting and grew to be one of Hollywood's most known faces.

  • Keanu Reeves - $380 Mill Net Worth, Career, Earnings And Lifestyle In 2022

    Keanu Reeves - $380 Mill Net Worth, Career, Earnings And Lifestyle In 2022

    A musician, actor, producer, and philanthropist, Keanu Reeves net worth is $380 million. He has acted in scores of movies throughout the years, some of which have grossed billions of dollars at the box office. He is likely best known for the John Wick and The Matrix movie series.

  • MoviezAddiction.Website – Feeding People’s Craving For Films, TV Shows

    MoviezAddiction.Website – Feeding People’s Craving For Films, TV Shows

    Addicted to movies and TV shows? Not wanting to make you become more obsessed, but have you heard about MoviezAddiction.website, a source of thousands of films and shows you can download?

  • Can You Trust Rhino Air Hockey?

    Can You Trust Rhino Air Hockey?

    Work and family take up so much of our time these days that it's surprising how little time we have left for our enjoyment and fun. But just because we're adults doesn't mean we have to make our whole lives about work. You need to play Rhino Air Hockey Table to add joy to your life, relieve stress, and connect with other people and the world around you.

  • How Much Is A Mail Order Bride? Mail Order Bride Cost Estimated

    How Much Is A Mail Order Bride? Mail Order Bride Cost Estimated

    Interested in mail order bride pricing? Our estimations of mail order bride cost will help you on your quest for a foreign soulmate. Read this to learn more!

  • Head Of AmCham Guatemala Juan Pablo Carrasco De Groote: The “Art Of The Deal” (Guatemala-style)

    Head Of AmCham Guatemala Juan Pablo Carrasco De Groote: The “Art Of The Deal” (Guatemala-style)

    For over 10 years, the head of AmCham Guatemala has been Juan Pablo Carrasco de Groote – the unchanging face of the chamber of commerce.