Best broker for day-trading US equities?

[pete4000]

Hi there,

I'm curious to know everyone's thoughts and recommendations on the best brokerage firm for day-trading US equities. I am from the UK.

Access to a wide range of stocks is crucial, and the broker must be OK with big daily gappers being traded and scalped.

I make roughly 5-10 trades each day, and my position size is usually around 500-5000 shares. I never hold overnight, and I only trade equities with a price above $10 a share.

Fast execution and tight spreads on liquid stocks is crucial as my strategy often involves only a 20c move.

I can live without graphs and market monitoring tools on the platform as I have other software for that, although the ability to see 5 min candles would be nice.

Thus far I've been trading CFDs and enjoyed very fast execution speeds and fills, but I am becoming a little concerned that my CFD broker may come up with a bunch of excuses to avoid paying out in the future as I've read a few bad reviews from traders with big wins. I'd be curious to hear which CFD and non-CFD brokers this board would recommend for successful high frequency traders on the US markets.

Leverage = around the 1:10 mark

This is regarding equities, not FX.

Many thanks!

 

[jtjudah]

Hi there,

I'm curious to know everyone's thoughts and recommendations on the best brokerage firm for day-trading US equities. I am from the UK.

Access to a wide range of stocks is crucial, and the broker must be OK with big daily gappers being traded and scalped.

I make roughly 5-10 trades each day, and my position size is usually around 500-5000 shares. I never hold overnight, and I only trade equities with a price above $10 a share.

Fast execution and tight spreads on liquid stocks is crucial as my strategy often involves only a 20c move.

I can live without graphs and market monitoring tools on the platform as I have other software for that, although the ability to see 5 min candles would be nice.

Thus far I've been trading CFDs and enjoyed very fast execution speeds and fills, but I am becoming a little concerned that my CFD broker may come up with a bunch of excuses to avoid paying out in the future as I've read a few bad reviews from traders with big wins. I'd be curious to hear which CFD and non-CFD brokers this board would recommend for successful high frequency traders on the US markets.

Leverage = around the 1:10 mark

This is regarding equities, not FX.

Many thanks!

Hi Any luck with this? I'm looking for a broker for US equities in the UK as well. Interactive brokers looks reasonable.

 

[sledmt]

I have a similar question. Was wondering what you found out?

 

[selalin]

You could try Accendo Markets. They provide the kind of service you are looking for, however, commissions of 2c per share means you have to make the spread followed by 4c before making any money. I sometimes yearn for a 20c move, but they are certainly around.
Hope this helps.

 

[Trevor1975]

Are you talking about CFDs or actual on exchange equities?

 

[hhiusa]

Hi there,

I'm curious to know everyone's thoughts and recommendations on the best brokerage firm for day-trading US equities. I am from the UK.

Access to a wide range of stocks is crucial, and the broker must be OK with big daily gappers being traded and scalped.

I make roughly 5-10 trades each day, and my position size is usually around 500-5000 shares. I never hold overnight, and I only trade equities with a price above $10 a share.

Fast execution and tight spreads on liquid stocks is crucial as my strategy often involves only a 20c move.

I can live without graphs and market monitoring tools on the platform as I have other software for that, although the ability to see 5 min candles would be nice.

Thus far I've been trading CFDs and enjoyed very fast execution speeds and fills, but I am becoming a little concerned that my CFD broker may come up with a bunch of excuses to avoid paying out in the future as I've read a few bad reviews from traders with big wins. I'd be curious to hear which CFD and non-CFD brokers this board would recommend for successful high frequency traders on the US markets.

Leverage = around the 1:10 mark

This is regarding equities, not FX.

Many thanks!

I am assuming since you said daytrading you are working at least $25,000 per SEC rules for US stocks, so there account minimum should be no problem.

I prefer trading equities to FX. Since you said you move about 5,000 to 50,000 shares a month I would recommend a direct access broker like Interactive Brokers and then sign a direct contract with the NYSE through nyxdata. That would around 100,000 to 1,000,000 shares a month. If you do move more 300,000 shares a month you end up with only a $0.0027/share removal liquidity fee and $0.0015/share add liquidity rebate. They have a branch in the UK (Interactive Brokers UK) you can park and clear and execute your trades in the US or the UK if you wish. You can also have multicurrency denominated cash accounts to avoid FX translation losses between USD and GBP.

This translates to about 0.0027+0.003-0.0015 = $0.0042/share spread for stock after considering the add and removal liquidity fee and rebate, FINRA and NYSE pass through fees and clearing fees.

You will pay about $0.67/200 shares.

https://www.interactivebrokers.com/en/index.php?f=commission&p=stocks2