The best chance of achieving high returns on investment is through day trading (ROI). Your level of success as a day trader can be greatly impacted by using the best day trading applications.
Day trading, however, can be a tough and stressful career. Where there is a prospect of substantial gains, there is also a chance of substantial losses. Day traders frequently operate in volatile markets where stock prices fluctuate quickly, forcing them to make split-second decisions about whether to purchase or sell.
You must access the best internet resources for research, analysis, and trading if you want to be a highly successful day trader. In light of this, here are our top five recommendations for the best trading apps in UK.
Best Apps for Day Trading
1. CobraTrading- Best Direct Access Broker and Trading Platforms for Day Trading
The most essential requirements of active traders are met by direct access broker Cobra Trading, which offers a variety of outstanding trading platforms, flexible order routing, hotkey trading, and blazing-fast trade execution.
With something that many internet brokers lack, Cobra Trading sticks out.
Pros
- Through ECN or the best available exchange, flexible order routing and immediate order execution are provided.
- There are several other account types, including Roth IRA and Trust accounts.
- Short sellers have access to several difficult-to-borrow stocks for trading.
- Three trustworthy trading platforms with features, including extras like real-time Level 2 market data, basket trading, advanced order types, portfolio, and multi-account administration, are available.
- High-volume traders are eligible for rebates.
Costs
- The excellent day trading broker is Cobra Trading, which provides competitive direct market access broker commissions for novice traders starting at $0.003 per share. Lower volume tiers have share prices as low as $0.0015. Trading with a broker is free; trades with other brokers can cost up to $25.
2. Best Stock Trading Scanner App for Day Traders, Trade Ideas
One of the best apps for day trading to choose from is Trade Ideas. The best stock scanner in the world can be found at Trade Ideas, which also provides access to trading signals produced by a custom artificial intelligence (A.I.) trading algorithm.
Multiple scans can be configured to run constantly throughout the trading day, refreshed every few seconds, for active traders.
Pros
- Over 20 original scanner setups are already pre-loaded on the default screener. Additionally, there are over 400 distinct filters and alerts, including:
- renowned gappers
- high relative volume stocks
- new records
- running up quickly
Cost
- Up huge today after yesterday's significant decline, plus more.
- The annual fee of the Trade Ideas regular membership is $1,068. It includes access to scanners, charts, live trading room access, and real-time data.
- A premium subscription costs $2,268 a year and gives you access to the "Oddsmaker" backtesting software and the A.I. daily stock recommendations with trade risk analysis.
3. The Best Market News Day Trading App is Benzinga Pro.
The main selling point of Benzinga Pro is that it provides fast delivery of market news and data. By utilizing many other options, you can entirely customize it to your tastes.
The main offering of Benzinga, its news feed, aims to deliver the news that interests you as soon as possible. With the numerous filters offered by Benzinga, you can modify the newsfeed in a variety of ways:
Receive news that is pertinent to a specific sector of the economy or any stock on your watchlist.
News of a specific kind, such as analyst ratings or insider trades, or News from a specified source (like the Federal Reserve or another central bank published or connected news).
Cost
The main newsfeed, the "Movers" feature, and the Calendar are all included in the $99 per month "Basic" subscription to Benzinga (s). For busy day traders, however, the fact that some stock price quotes are delayed is wholly unacceptable. Nevertheless, you probably have access to additional real-time price sources, such as your trading platform. Sentiment indicators, discussion rooms, and "Squawk" are included in the "Essential" subscription, which costs $177 per month.
5. The Best Unusual Options Scanner App is BlackBoxStocks.
BlackBoxStocks is an excellent trading network. Other members can be followed, chatted with, or subscribed. Additionally, live channels of the BlackBox social network's best performers allow subscribers to exchange ideas and tactics.
If you have a successful trading method, BlackBoxStocks may grant you access to your very own channel. Additionally, subscribers get continual training and education in trading stocks and options.
By screening for anomalous options activity, such as pronounced volume or volatility surges or sharp increases/decreases in option pricing, BlackBoxStocks essentially intends to assist traders in identifying the trading movements of major institutional traders and then following the "big money.
All of BlackBox's features are accessible through a single subscription plan. The only difference is whether you choose to pay for your subscription every month ($99.97/month) or annually ($959/year), which results in a $250 annual savings.
6. Best Day Trading Education: BearBull Traders
The BearBull day trading instructional program also contains in-depth research on trading psychology, including 18 learning modules, webinars, and coaching sessions.
It's interesting to note that some of the other day trading tools we've covered here have connections to BearBull's service. For instance, it endorses Cobra Trading's DAS trading platform and Benzinga Pro's newsfeed service.
Of course, there are a ton of different day trading apps that you could like and that could improve your trading results. However, we believe the five we've listed here are among the best and are at the very least worth taking a look at. They all provide some form of introductory "try it out" deal. All of them are either completely free or require a little commitment, similar to most online trading services. You can choose one of the five best apps for day trading above.