Top 5 Best Day Trading Software To Make Money

Day trading is an exciting way to profit more in the stock market. It’s accessible to anyone; however, you need some basic requirements. To trade effectively and smoothly, you need reliable day trading software that allows you to execute trades well. In this article, you’ll learn to find our top choice for the best day trading software.

Many platforms help you improve your trading strategies. MK Assistance is one of the most popular platforms that provides informative tips on trading in the forex market. Also, they provide educational material that helps users learn about the latest market trends. To learn more about this trading consultant, read our MK Assistance Review.

Best Features of Day Trading Software

The skill level and trading strategy will determine what features you want in your day trading software. However, some of the essential elements that all-day traders require include the following:

No commissions and fees: Commission fees add up if you perform multiple daily transactions. 

Excellent order execution quality: Execution quality means trades work quickly and with minimal spread.

User-friendly: If the app is hard to navigate or experiences delays while executing trades, you could end up losing profit or missing opportunities. 

Real-time alerts: When you enter and exit trades, you need access to the most updated pricing data.

Customizable Charts: Look for charts with many indicators so you can customize them to show the technical details you use in your strategy.

Backtesting: When developing a trading strategy, one of the first steps is to backtest it by determining how the process would have performed in the past. Some day trading software offers backtesting tools to do everything in one place.

Our Recommendation For Day Trading Software

Here are our best recommendations for the best day trading software, perfect for beginner to advanced traders!

eSignal Charting: Best For Advanced Charting

eSignal Charting is one of the best charting platforms for professional traders. At $170/month, it may not be ideal for naive traders on a tight budget. eSignal is an advanced charting platform that mainly addresses active traders using technical analysis. The platform offers award-winning products and services, and thousands of traders have used this day’s training platform.

This reliable day trading platform is appraised for its intuitive, customizable charts and analytical tools, such as a bulletproof stock scanner, market profile, automated systems, advanced volume analysis, and much more. In addition to being a comprehensive charting platform featuring hundreds of technical indicators, eSignal is also a trading platform. You can connect to 50+ different brokers and execute trades directly from inside the platform.

Traders hunting for real-time data, charting, and trading capabilities will benefit from this dual platform.

This platform is easy to understand and based on Windows, and is also compatible with MacBooks. For traders who like to have everything available in one place, eSignal is the best bet. 

Moomoo: Best Day Trading Software For Full-Time Traders

This day trading software offers high-quality executions, long hours, and high-volume order capabilities. It is a great trading app for full-time day traders. The platform provides commission-free trading, $0 contracts, plus a wide range of market analysis tools. 

Moreover, you can use almost 50 indicators, access level 2 market data, and the latest news on all your positions – all in one place. The best part is all of these benefits are available at no additional cost when you open a new account. 

The only downside is it lacks backtesting and automation tools that some traders might require. 

Benzinga Pro: Best For Breaking News

To gain opportunities early, traders need to stay on top of market trends and market news that can impact stock performance. Benzinga Pro is a great stock screener trading software with incredible functionalities like charting, unusual options, and much more. This day trading software is user-friendly and recently added a new mentorship service with Nic Chahine.

With Benzinga Pro, you get access to breaking news fresh off the BZ wire, real-time alerts, and so on. You can also set custom filters and indicators for quickly scanning your news feed. While you can’t trade directly on this platform, it’s a powerful solution to add to your day trading arsenal.

NinjaTrader: Best Day Trading Software For Advanced Trading 

NinjaTrader offers the best backtesting, charting, and automation tools to retail investors. For professional traders looking for customizability of charts and the ability to manage thousands of indicators, this day trading software is hard to beat. Moreover, traders also get backtesting and analysis tools, so they can improve their trading strategy and do actual trading at the same place. 

With access to forex, futures, stocks, options, and contracts for differences, day traders can also refine their custom trading strategies in any market they choose. However, the main disadvantage is the lack of educational material. Beginners might consider it a complex platform and struggle to use the suite of tools available.

Final Thoughts On Day Trading Software

Having the right tools and day trading software will help you make better and more informed decisions. When choosing the best day trading software, cost management plays a key role. Look for low transaction costs and fast trade execution. 

For beginners, platforms that offer educational resources can assist in developing skills into the day trading expert you’ve always dreamed of. Both beginners and advanced traders can benefit from day trading software that also offers built-in screening and technical analysis tools.