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If you're a day trader or a prospective one, you need a brokerage that fits your needs well. Unlike casual or buy-and-hold investors - who access the market infrequently - day traders need to optimize for low costs and tools such as trading platforms and solid fundamental research.

© Jonathan Weiss/Shutterstock Fidelity Bank What is day trading?

Day trading is the practice of buying and selling a security within the span of a day. The Financial Industry Regulatory Authority (FINRA) identifies pattern day traders as those who trade in and out of a security four or more times in a five-day span, provided the number of trades are more than 6 percent of the trader's total activity in that same period.

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While some traders may hold positions for a few days, a typical day trader likes to be "flat" overnight - which means having all positions closed when the market closes for the day. These traders often try to avoid price movements from any change in sentiment or news that might occur overnight.

Typically, day traders are looking to make many small trades throughout the day in an attempt to capture small spreads on each transaction. Day traders often take advantage of minute-by-minute moves in a security to find an attractive buy price, and when the market has firmed up they look to sell the security, sometimes only minutes later.

Best online brokers for day trading in July:
  • Fidelity – Best overall
  • Interactive Brokers – Best for high volume
  • Tradestation – Best for options
  • TD Ameritrade – Best trading platform
  • E-Trade – Best for research
What to consider

With a strategy that involves so much trading, one of the primary concerns for a day trader is commissions, or how much is a brokerage going to take with each trade. Regardless of whether a trade is a winner or a loser, the brokerage gets its cut either way - both on the buy and the sell transaction. So savvy traders look to save on trading costs as much as possible, because that keeps more money in their own pockets.

However, traders must balance this concern with the other features of a brokerage that may help them be successful, such as the trading platform, research and tools. So while cost is an important consideration, it's not the only one.

Finally, when selecting a brokerage, day traders will find that a brokerage's typical account minimums do not apply to them. Instead, pattern day traders must maintain at least $25,000 of equity in their accounts or they will not be able to day trade, according to FINRA rules.

Overview: Top brokers for day trading in July 2020Fidelity: Best overall

Fidelity Investments provides the core day-trading features well, from research to trading platform to reasonable commissions. The company's flagship platform, Active Trader Pro, offers a fully customized look while Wealth-Lab Pro, a backtesting tool, lets you test a strategy against 20 years of historical data. The research on tap is among the best in the industry, with reports from Thomson Reuters and Ned Davis, among others. For all this, you'll pay no commission on stock and ETF trades, and Fidelity also prides itself on not nickel-and-diming you on other account fees.

Commissions: $0 (stocks and ETFs); $0.65 per contract (options).

Interactive Brokers: Best for high volume

Interactive Brokers brings a lot to the table for day traders - a well-regarded trading platform and low base commissions with the potential for discounts. And if you're placing huge trades, the broker even discounts its base commission by up to 90 percent. While Interactive Brokers isn't known for its research, its Trader Workstation platform will help technical traders with charting and streaming news.

In addition, the company has recently launched IBKR Lite, a platform that gives you many of the broker's top features as well as no-commission stock and ETF trades.

Commissions: $0.005 per share (stocks and ETFs) for the standard platform; $0.65 per contract (options) and volume discounts are available.

TradeStation: Best for options

One of TradeStation's top features is its flexible and convenient pricing plans, but the broker also offers a fantastic trading platform, too. TradeStation's base commission for options is in line with the industry standard at $0, and its commission for stocks and ETFs is now zero (on the first 10,000 shares per trade) too. TradeStation's fully customizable desktop platform allows you to use tons of technical indicators, as well as create your own. And traders will likely find OptionsStation Pro a valuable tool for setting up trades and visualizing the potential payoffs.

Commissions: $0 for the first 10,000 shares per trade and $0.005 per share after that (stocks and ETFs); $0.50 per contract (options).

TD Ameritrade: Best trading platform

TD Ameritrade's strongest suit might just be its much-lauded thinkorswim trading platform, where in addition to stocks and options, you'll be able to trade forex, futures and futures options. You'll have access to more than 400 technical studies, and you'll have plenty of other tools (charting and a trading simulator, for example) that pro traders love. Plus, those looking for more fundamental research will find plenty. You get all this and there's no base commission.

(As of November 2019, Charles Schwab has agreed to purchase TD Ameritrade, and plans to integrate the two companies once the deal is finalized.)

Commissions: $0 (stocks and ETFs); $0.65 per contract (options).

E-Trade: Best for research

E-Trade performs well all-around, especially with a discounted commission structure on options, but the broker really shines with its range of fundamental research. Research offerings include the broker's own market commentary as well as reports from Thomson Reuters and Moody's, among others. The Power E-Trade platform and the similarly named mobile app get you trading quickly and offer more than 100 technical studies to analyze the trading action.

(As of February 2020, Morgan Stanley has agreed to purchase E*Trade, and plans to operate the broker as a separate unit once the deal is finalized.)

Commissions: $0 (stocks and ETFs); $0.65 or $0.50 discounted (options).

Featured image by JONATHAN WEISS / Shutterstock.

Learn more:
  • Stock market basics for beginners: 8 guidelines to follow
  • Easy part of day trading: Making mistakes
  • Best online stock brokers for beginners

Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation.

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What to view on July 10: Net series and films to watch online

Some other massive electronic releases nowadays include Breathe Into the Shadows (Amazon Key Video clip), Mafia (ZEE5), Undekhi (SonyLIV) and The Old Guard (Netflix).

Amit Sadh, who also starred in the original sequence Breathe, spoke to Indianexpress.com about his character, Kabir Sawant, and his transformation in Into the Shadows. He claimed, “Kabir Sawant has to resolve (the case) and shield. Now regardless of whether he’ll be equipped to do it or not, will be witnessed. He is the similar man but in new situations, with a new dimension. I can say you will be shocked viewing him this time. Kabir obtained a lot of really like in period 1. And a key share for this goes to Mayank Sharma. No person has directed me much better than him. Even the writers have worked really hard. So if persons say there is modify in me, that is due to the fact of the creating. For season two, I believed how would Kabir Sawant be in advance of he turned an alcoholic in time a person, in advance of his daughter died of his have revolver. We all have a dark hole inside of us which we never unleash. But in Breathe, I’ve finished that. I’ve bared myself. I have not worked so challenging for any position right before. This is the initially time I have virtually given everything to a job.”

The Outdated Guard, starring Charlize Theron in the direct, is about a band of immortal warriors who have secretly secured the earth for hundreds of years when remaining concealed in the shadows. Theron’s character, who phone calls herself Andy, recruits a new girl (KiKi Layne). It appears as however the means can be bestowed on any person. In the contemporary world, hazard for the mercenaries is afoot as a several elements have uncovered of this and are on their heels. Defeating dying, following all, is a breakthrough practically most people will drive. Also, there may well be advantages in using them as weapons for some sinister outfits and governments.

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The Aged Guard is streaming on Netflix (Photo: Aimee Spinks/NETFLIX ©2020)

The Indian Convey Shubhra Gupta gave The Previous Guard a few stars and wrote in her overview, “Watching a superhero company on your dwelling product delivers property the constraints brought on by the pandemic on our viewing lives. The Aged Guard, about a bunch of immortals active preserving innocents down the generations, functions on a smaller sized display only simply because of its distinct function: by offering its figures, who, gasp, just can’t die, quieter times when they are allowed to share their internal life with us.”

“It’s not as if only woman helmers can turn out a superhero actioner which is layered by not just latex, but by dialogue. But viewing how Prince-Bythewood takes advantage of high-octane action alongside the talky sequences, it is wonderful that women of all ages are lastly getting invited to this all-male table, in all probability since Theron has creating credits on the movie. Theron, outstanding as Furiosa in Mad Max Fury, is in related avenging mode below. She goes by the no-nonsense identify of Andy, but her true monicker is Greek, Andromache of Scythia. Offering her able business is Layne, so powerful in If Beale Street Could Talk: both equally these women of all ages, buffer and fitter, and a great deal a lot more interesting than their male companions, elevate the film,” Shubhra included.

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