Day Trading Platform: Best UK Platform Award Winner* (2024)

FAQs

Which platform is best for day trading? ›

Interactive Brokers (IBKR) remains firmly entrenched as our overall pick as Best Online Broker for Day Trading because it offers among the widest ranges of assets available to trade while charging some of the lowest commissions and margin rates in the industry.

With a $10,000 account, a good day might bring in a five percent gain, which is $500. However, day traders also need to consider fixed costs such as commissions charged by brokers. These commissions can eat into profits, and day traders need to earn enough to overcome these fees [2].

Roughly 10% to 15% could make some money, but not enough to make it worth their while to continue trying to do it for a career. Of the 4% who make a living, that doesn't necessarily mean a good living. If you want to rich you'll need to be in the top tier of that 4%.

In practice, you'll probably want at least £250-£500 to get started, as any less limits the number of trades you can make. Some markets may demand more capital than others. Obviously, the more capital you're able to commit, the more you can potentially make (especially given the small profit margins from each trade).

Yes, day trading is legal in the UK. Although it is still important to make sure you are trading with a regulated provider.

You can day trade without $25k in accounts with brokers that do not enforce the Pattern Day Trader rule, which typically applies to U.S. stock markets. Consider forex or futures markets, which have different regulations and often lower entry barriers for day trading. Swing trading is another option.

Here are the top 10 best Day Trading Platforms in the UK:

Avatrade – Best for Beginners. IG – Most easy to use platform. Plus500 – Great for Analytic tools. Pepperstone – Best for a range of platforms.

A common approach for new day traders is to start with a goal of $200 per day and work up to $800-$1000 over time. Small winners are better than home runs because it forces you to stay on your plan and use discipline. Sure, you'll hit a big winner every now and then, but consistency is the real key to day trading.

While it's theoretically possible to earn $1,000 daily through day trading or stock market investments, it's important to note that such earnings are not guaranteed, and they come with significant risks. Day trading and stock market investments can be highly volatile, and there are no guarantees of profits.

Steve Cohen's day trading tale is one of a kind. Being the most successful among day traders who made millions, he started as a poker player. His passion for day trading would lead him to develop abilities in day trading and intuitiveness.

Is day trading allowed in UK? ›

Yes, day trading is legal in the UK. Although it is still important to make sure you are trading with a regulated provider.

Like any other trading method, day trading also has its share of profits and risks and mainly because of financial leverage and rapid returns involved in day trading, it can range from being extremely profitable to extremely unprofitable and high-risk profile traders can generate either huge percentage returns or huge ...

The average salary for Day Trader is £74,371 per year in the United Kingdom. The average additional cash compensation for a Day Trader in the United Kingdom is £21,813, with a range from £7,282 - £65,340.