Top 7 Markets for Intraday Trading

Top 7 Markets for Intraday Trading

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Intraday trading is a trading strategy that involves trading within one trading day. This term is a shorthand which is used by forex traders to describe securities and tradable financial instruments which trade during regular business hours. Some forex brokers offer better conditions that support Intraday Trading than others, these forex brokers and trading platforms are:

  1. Interactive Brokers
  2. Fidelity
  3. Firstrade
  4. TradeStation
  5. TD Ameritrade
  6. Lightspeed
  7. Tastyworks
  • Interactive Brokers

Interactive Brokers is a forex trading broker and a platform that was established in the United States in 1978. Interactive Brokers was founded by Thomas Peterfly and the CEO for Interactive Brokers is Milan Galik, who has held the position for the past three years. Interactive Brokers is regulated by CFTC, IIROC, FCA, CSSF, CBI, MNB, ASIC, SEHK, KLB, and MAS.

Interactive Brokers trades on NASDAQ under the symbol IBKR. The market capitalisation for Interactive Brokers is more than 28.03 USD according to official stock information.

In terms of Interactive Brokers users, there are more than 600 000 registered forex traders from countries around the world according to the official Interactive Brokers website. According to official sources, Interactive Brokers has between 1 600 employees.

Where deposit rates and fees are concerned, Interactive Brokers does not charge a flat deposit rate. In terms of forex trading fees and commissions, Interactive Brokers has spreads that start from 0 pips with either fixed or tiered commissions, depending on trading volume and account type.

About trade execution speed, Interactive Brokers executes trades swiftly with low latency and minimal slippage according to official sources. In terms of security, Interactive Brokers is a trusted, reliable, and multi-regulated forex broker that uses strict security protocols and measures.

In terms of financial markets, Interactive Brokers offers more than 125 tradable financial instruments spread across:

  • Stocks
  • Options
  • Futures
  • Forex
  • Metals
  • Bonds
  • ETFs
  • Mutual Funds
  • Hedge Funds
  • Robo Portfolios

In terms of trading software, Interactive Brokers supports the following:

  1. IBKR Mobile
  2. IBot
  3. IBKR WebTrader (Only for IBKR Pro Accounts)
  4. IBKR APIs (Only for IBKR Pro Accounts)
  5. Interactive Brokers’ Client Portal
  6. Desktop TWS

In terms of research and training, Interactive Brokers has a newsletter and blog for forex traders. Forex traders can use the following forex training and research tools:

  1. Traders’ Academy
  2. More than 150 videos
  3. Courses and tours
  4. Investors’ marketplace
  5. Apps, tools, and widgets

In terms of support, Interactive Brokers can be contacted through these communication channels:

  • Email
  • Telephone
  • Live chat
  • IBot FAQs
  • Facebook
  • Twitter
  • LinkedIn

In terms of the service area, Interactive Brokers serves traders from around the world except those from these countries/jurisdictions:

  • Afghanistan
  • Burundi
  • Iran
  • Iraq
  • Somalia
  • Sudan, and several other regions.

In terms of currency types, Interactive Brokers accepts the following currencies:

  • USD
  • GBP
  • EUR
  • JPY, and more.

When compared to other forex brokers, Interactive Brokers is a large and trusted forex trading broker that offers unique and advanced solutions to all forex traders.

In terms of unique sides and/or features, Interactive Brokers stands out by offering:

  • Security and safety of client funds
  • Vast investment and trading opportunities
  • Award-winning broker
  • Variety of account options available
  • Stock exchange-listed broker with a high market cap
  • Trust as well as reliable service
  • Powerful trading software across multiple devices
  • Fidelity

Fidelity is a forex trading broker and a platform that was founded in 1946 in Boston, Massachusetts, US. Edward C. Johnson II founded Fidelity and the CEO is Abigail Johnson, who has held the position for the past 5 years. Fidelity is regulated by FINRA and SEC.

The market capitalization of Fidelity is not disclosed by official sources. As of March, Fidelity has more than 10.4 trillion USD assets under management (AUM). 

In terms of Fidelity users, there is an undisclosed number of registered forex traders from countries around the world according to the official Fidelity website. According to official sources, Fidelity has more than 41 329 employees as of 2021.

Where deposit rates and fees are concerned, Fidelity does not have a flat rate in deposit charges. In terms of forex trading fees and commissions, Fidelity charges variable spreads and commissions from $0.

About trade execution speed, Fidelity executes trades within seconds. Fidelity offers the best security and privacy in the industry. Fidelity implements industry-leading security standards and the best technologies to ensure that the portfolio of the forex trader remains safe.

In terms of financial markets, Fidelity has a large portfolio of more than 50 000 tradable financial instruments spread across:

  • Mutual Funds
  • ETFs
  • Fixed Income
  • Bonds
  • CDs
  • Options
  • Stocks
  • IRAs
  • IPOs

In terms of trading software, Fidelity supports the following:

  1. Active Trader Pro
  2. Fidelity Mobile Trading App

In terms of research and training, Fidelity has a newsletter and blog for forex traders. Forex traders can use the following forex training and research tools:

  1. Stock Research Dashboard
  2. Stock Screener
  3. Equity Summary Score
  4. Strategy Testing Tool
  5. Fidelity Go
  6. Live Webinars
  7. Learning Centre
  8. Interactive Coaching Sessions

In terms of support, Fidelity can be contacted 24/7 through these communication channels:

  • Email
  • Telephone
  • Live chat

In terms of the service area, Fidelity serves traders from around the including:

  • Canada
  • United States
  • Europe
  • South-East Asia
  • Africa, and several other regions.

In terms of currency types, Fidelity accepts the following currencies:

  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • DEN
  • HKD
  • JPY
  • ZAR, and several more.

When compared to other forex brokers, Fidelity is an award-winning broker that is trusted and well-known as one of the best brokers in the industry. Fidelity is known for its low rates and excellent customer service, long-standing history, and dynamic self-directed investment opportunities.

In terms of unique sides and/or features, Fidelity stands out by offering:

  • A large range of tradable financial instruments
  • Sophisticated trading software
  • A variety of investing and trading opportunities
  • Strict and trusted security protocols
  • Safety of client funds
  • Firstrade

Firstrade is a forex trading broker and a platform that was founded in 1985 in the United States. Firstrade was founded by John Liu who has been the CEO for more than 36 years. Firstrade is regulated by the Financial Industry Regulatory Authority (FINRA) and is a member of the Securities Investor Protection Corporation (SIPC) in the US.

The market capitalization of Firstrade is not known but the total assets held by Firstrade is worth 4 billion USD.

In terms of Firstrade users, there is an undisclosed number of registered forex traders from countries around the world according to the official Firstrade website. There is no official source that discloses the number of Firstrade employees. As per the size of operations, Firstrade has between 1 000 and 5 000 employees worldwide.

Where deposit rates and fees are concerned, Firstrade does not charge a set deposit fee. In terms of forex trading fees and commissions, Firstrade charges variable spreads and commissions from 0 USD.

About trade execution speed, Firstrade executes trades in 0.1 seconds according to the official Firstrade website. In terms of security, Firstrade is known for providing strict account protection and ensuring that there is a safe trading environment for all traders.

In terms of financial markets, Firstrade offers more than 11 000 tradable financial instruments spread across:

  • Stocks
  • ETFs
  • Margin Loans
  • Options
  • Mutual Funds
  • Fixed Income

In terms of trading software, Firstrade supports the following:

  1. Firstrade Online Dashboard
  2. Firstrade Navigator
  3. Firstrade Mobile Trading App

In terms of research and training, Firstrade has a newsletter and blog for forex traders. Forex traders can use the following forex training and research tools:

  1. Streaming Watchlist
  2. Stock Reports
  3. Advanced Screeners
  4. Fund Commentary
  5. Market Heatmap
  6. Fundamental Data
  7. Economic Calendar
  8. Options Wizard
  9. Trading Guides and videos
  10. Trading Glossary

In terms of support, Firstrade can be contacted 24/5 through these communication channels:

  • Email
  • Telephone
  • Live chat
  • Twitter
  • Facebook
  • Google+
  • LinkedIn

In terms of the service area, Firstrade serves traders from around the world including:

  • China
  • Hong Kong
  • Japan
  • Korea (South)
  • Mexico
  • New Zealand
  • Singapore
  • Taiwan, and several others.

In terms of currency types, Firstrade accepts the following currencies:

  • USD

When compared to other forex brokers, Firstrade is known for providing reputable, trusted brokerage and investment services to traders from around the world.

In terms of unique sides and/or features, Firstrade stands out by offering:

  • Fast and reliable execution speeds
  • Comprehensive services
  • Popular Affiliate program
  • Dedicated customer support
  • Strict security and client fund safety
  • TradeStation

TradeStation is a forex trading broker and a platform that was founded in 1982 in Florida, US, as Omega Research, Inc. TradeStation was founded by William and Rafael Cruz and the President for TradeStation is John Bartleman, who has held the position for more than 22 years. TradeStation is regulated by the Financial Industry Regulatory Authority (FINRA).

The market capitalization of TradeStation (NASDAQ: TRAD) is more than 390 million USD.

In terms of TradeStation users, there is an undisclosed number of forex traders from countries around the world. The number of employees for TradeStation is not given by an official source. Due to the size of operations, TradeStation has between 1 000 and 5 000 employees.

Where deposit rates and fees are concerned, TradeStation charges 200 USD. In terms of forex trading fees and commissions, TradeStation has spreads that start from 0.9 pips and commissions from 1% per trade.

About trade execution speed, TradeStation executes trades in only a few seconds. TradeStation ensures client fund security as well as protection of clients under SIPC.

In terms of financial markets, TradeStation offers a large variety of tradable financial instruments from these markets:

  • Stocks
  • ETFs
  • IPOs
  • Options
  • Futures
  • Futures Options
  • Cryptocurrencies
  • Mutual Funds
  • Bonds

In terms of trading software, TradeStation supports the following:

  1. TradeStation Mobile
  2. TradeStation Web
  3. TradeStation Desktop
  4. FuturesPlus
  5. TSCrypto
  6. WebAPI

In terms of research and training, TradeStation has a newsletter and blog for forex traders. Forex traders can use the following forex training and research tools:

  1. Market Insights
  2. Support Forum
  3. Learn To Trade Sections

In terms of support, TradeStation can be contacted through these communication channels:

  • Email
  • Telephone
  • Live chat
  • Facebook
  • Instagram
  • Twitter

In terms of the service area, TradeStation serves traders from around the world without specifying any specific restrictions, as per the official TradeStation website.

In terms of currency types, TradeStation accepts the following currencies:

  • USD
  • JPY
  • CHF
  • EUR
  • GBP
  • AUD
  • CAD, and several more.

When compared to other forex brokers, TradeStation is known for its advanced and sophisticated trading software and award-winning trading services and offers.

In terms of unique sides and/or features, TradeStation stands out by offering:

  • A safe and secure trading environment
  • Powerful trading software
  • A range of trading and investment opportunities
  • Educational material and trading tools
  • TD Ameritrade

TD Ameritrade is a forex trading broker and a platform that was founded in 1975 in the United States. TD Ameritrade was founded by John Joseph Ricketts and the CEO for TD Ameritrade is Steven John Boyle, who has held the position for more than 20 years. TD Ameritrade is regulated by FINRA.

The market capitalization for TD Ameritrade is not known. The typical daily trading volume for TD Ameritrade is more than 500 000 trades.

In terms of TD Ameritrade users, there is an undisclosed number of forex traders from countries around the world according to the official TD Ameritrade website. According to official sources, TD Ameritrade has more than 1 trillion USD in assets. There are between 5 000 and 10 000 staff members for TD Ameritrade in more than 175 branches around the world.

Where deposit rates and fees are concerned, TD Ameritrade does not charge a flat rate in deposit fees. In terms of forex trading fees and commissions, TD Ameritrade has spreads that start from 1.2 pips and commissions from 6.95 USD.

Regarding trade execution speed, TD Ameritrade executes trades within milliseconds according to official sources. In terms of security, TD Ameritrade uses advanced firewalls to ensure that strict security is in place.

In terms of financial markets, TD Ameritrade offers a variety of tradable financial instruments from these asset classes:

  • Forex
  • Futures
  • Managed Portfolios
  • Bonds and CDs
  • Annuities
  • Stocks
  • Options
  • ETFs
  • Mutual Funds

In terms of trading software, TD Ameritrade supports the following:

  1. TD Ameritrade Web Trader
  2. Thinkorswim Platform
  3. TD Ameritrade Mobile Trading App

In terms of research and training, TD Ameritrade has a newsletter and blog for forex traders. Forex traders can use the following forex training and research tools:

  1. Technical and Fundamental Analysis
  2. Portfolio Management
  3. Interactive Educational Courses
  4. Articles
  5. Training Videos
  6. Webinars

In terms of support, TD Ameritrade can be contacted through these communication channels:

  • Email
  • Telephone
  • Live chat
  • Twitter
  • Facebook

In terms of the service area, TD Ameritrade serves traders from around the world including:

  • Canada
  • United States
  • Hong Kong
  • Singapore, and more.

In terms of currency types, TD Ameritrade accepts the following currencies:

  • USD

When compared to other forex brokers, TD Ameritrade offers unique solutions, and it is one of the best choices in the industry.

In terms of unique sides and/or features, TD Ameritrade stands out by offering:

  • Competitive fees
  • Several industry awards
  • Variety of investment products and ways to trade/invest
  • Flexible trading software across several devices
  • Lightspeed

Lightspeed is a forex trading broker and a platform that was founded in 2010 in the United States. Lightspeed was founded by Dax Dasilva and the CEO for Lightspeed is Farib Naib, who has held the position for more than 7 years. Lightspeed is regulated by the Financial Industry Regulatory Authority (FINRA) and is a member of the SICP in the United States.

The market capitalization of Lightspeed is more than 9.4 billion USD according to official stock information. 

In terms of Lightspeed users, there is an undisclosed number of registered forex traders who use Lightspeed. According to official sources, Lightspeed has between 500 and 1 000 employees.

Where deposit rates and fees are concerned, Lightspeed charges a minimum deposit of 10 000 USD. In terms of forex trading fees and commissions, Lightspeed variable spreads and commissions start from 0.01 USD.

About trade execution speed, Lightspeed guarantees lightning-fast trade execution speeds and some of the best client fund security in the industry. 

In terms of financial markets, Lightspeed offers tradable financial instruments from these asset classes:

  • Equities
  • Options
  • Futures

In terms of trading software, Lightspeed supports the following:

  1. Lightspeed Trader
  2. Lightspeed Web Trader
  3. Lightspeed Mobile Trader
  4. Lime Trading Gateway
  5. Sterling Trader
  6. Livevol X Options Trading
  7. Eze EMS Pro and Express
  8. Derivix
  9. SILEXX OEMS
  10. Wex
  11. eFutures Platform

In terms of research and training, Lightspeed has a newsletter and blog for forex traders. Forex traders can use the following forex training and research tools:

  1. Free tutorials
  2. Free webinars
  3. News updates
  4. Risk Management tools
  5. Various trading and research tools

In terms of support, Lightspeed can be contacted through these communication channels:

  • Email
  • Telephone
  • Twitter
  • Facebook
  • LinkedIn

In terms of the service area, Lightspeed serves traders from around the world without any restrictions.

In terms of currency types, Lightspeed accepts the following currencies:

  • USD

When compared to other forex brokers, Lightspeed offers the best trading software and investment opportunities to professional traders.

In terms of unique sides and/or features, Lightspeed stands out by offering:

  • Trusted trading solutions
  • Advanced trading software
  • Reliable trade execution speeds
  • Professional trading solutions
  • Tastyworks

Tastyworks is a forex trading broker and a platform that was founded in 2017 in the United States. Scott Sheridan, Tom Sosnoff, and Kristi Ross founded tastyworks and the CEO for tastyworks is Scott Sheridan, who has held the position for more than 4 years. tastyworks is regulated by the Financial Industry Regulatory Authority (FINRA) and the National Futures Association (NFA).

There is no official source that discloses the market capitalization or average trading volume for tastyworks.

In terms of tastyworks users, there is an undisclosed number of registered users. According to official sources, tastyworks has between 50 and 100 employees.

Where deposit rates and fees are concerned, tastyworks does not charge a set minimum deposit fee. In terms of forex trading fees and commissions, tastyworks does not charge a spread but charges commissions from 0.25 USD on small futures.

About trade execution speed, tastyworks execute trades within seconds and in terms of security, tastyworks makes use of strict security protocols. 

In terms of financial markets, tastyworks offers a variety of tradable financial instruments spread across:

  • Options on stock
  • Stocks
  • Options on futures
  • Futures
  • Micro Futures
  • Small Futures

In terms of trading software, tastyworks supports the following:

  1. tastyworks web
  2. tastyworks desktop
  3. tastyworks mobile

In terms of research and training, tastyworks has a newsletter and blog for forex traders. Forex traders can use the following forex training and research tools:

  1. Curve analysis
  2. Follow-feed
  3. In-platform video feed

In terms of support, tastyworks can be contacted 24/5 through these communication channels:

  • Email
  • Telephone
  • Live chat

In terms of the service area, tastyworks serves traders from around the world except those from Canada.

In terms of currency types, tastyworks accepts the following currencies:

  • USD

When compared to other forex brokers, tastyworks is a flexible trading platform and broker who offers sophisticated trading solutions.

In terms of unique sides and/or features, tastyworks stands out by offering:

  • Valuable insights
  • Powerful trading platforms
  • Trust and reliability
  • Security and safety of funds

How has the concept of Day Trading Emerged?

In terms of the definition, day trading relates to “within the day”. In the financial world, the Day Trading term is used to describe financial markets that trade during regular business hours. Day trading also signifies the highs and the lows of a specific asset that is crossed during the day.

The intraday price movements are important to short-term, or day traders who want to execute multiple trades during a single trading session. Before the financial market closes for the day, day traders will settle/close all their positions in a timely manner.

Day trading was invented in 1867 shortly after the invention of the telegraph. During these times, stock markets used the communication technology of the telegraph to create the first ticker tape, which was invented by Edward A Calahan, an employee of the American Telegraph Company. 

Ticker tape made it easier to communicate information regarding trading transactions on the exchange floor with different forex brokers. Day trading has seen a lot of evolution through the years and was seen as a “get rich quick” scheme in the 2000s. After this, day trading started getting a reputation for being a professional practice used by experienced traders in the financial markets.

For more information on day trading, Toni Turner’s book “A Beginner’s Guide to Day Trading Online” provides a detailed overview of risk management, technical analysis, and information on a successful trading plan.