The BEST Online Trading Brokers for 2025 (Day Trading, Non-PDT, Commission Free)

00:36:45
https://www.youtube.com/watch?v=ktuEYvVEm5I

Zusammenfassung

TLDRIn this video, the presenter ranks the best brokers for day trading by comparing 17 popular options based on execution speed, commissions, and user experience. The analysis reveals significant differences in execution speeds among brokers, emphasizing the importance of fast order execution for day traders. The presenter shares personal testing results, highlighting that while commission-free brokers may seem appealing, they often come with slower execution speeds. The video concludes with a comprehensive ranking of brokers suitable for various types of traders, including those with small accounts and international traders, and encourages viewers to consider their trading needs when selecting a broker.

Mitbringsel

  • ⚡ Fast order execution is crucial for day trading success.
  • 💰 Commission-free brokers often have slower execution speeds.
  • 📊 Personal testing reveals discrepancies in reported execution speeds.
  • 🔍 Consider user experience and platform features when choosing a broker.
  • 🌍 International traders have different options compared to US traders.
  • 📈 Light Speed is ranked as the best broker for execution speed.
  • 📉 Ocean One is recommended for small account traders.
  • 📝 A free PDF guide on day trading strategies is available for viewers.
  • 💡 Payment for order flow allows commission-free trading but may affect execution speed.
  • 🔑 Key features for trading platforms include level two data and hotkeys.

Zeitleiste

  • 00:00:00 - 00:05:00

    In this episode, the host ranks the best brokers for day trading, comparing 17 popular brokers that accept traders from the US, Canada, and internationally. The comparison is based on over 30 points, culminating in a Ross score for each broker, indicating their suitability for real money trading.

  • 00:05:00 - 00:10:00

    The first point of comparison is order execution speed, which is crucial for day trading. The host highlights that brokers like Weeble have slower execution speeds, while Light Speed and Centerpoint are among the fastest. The importance of fast execution is emphasized through a trading example, illustrating how delays can lead to missed opportunities.

  • 00:10:00 - 00:15:00

    The host conducts a live execution speed test with Fidelity, demonstrating the slow update times for order fills. The results show Fidelity as the slowest broker, followed by Robinhood and Weeble. The host stresses the need for fast execution to succeed in trading, sharing personal testing experiences with various brokers.

  • 00:15:00 - 00:20:00

    The discussion shifts to the differences between commission-free brokers and those that charge commissions. The host explains how payment for order flow affects execution speed and the trade-off between commission-free trading and faster execution. The importance of understanding these dynamics is highlighted for traders.

  • 00:20:00 - 00:25:00

    The host introduces the concept of market structure and how orders are processed through brokers and exchanges. The evolution from traditional brokers to electronic trading platforms is explained, along with the implications of payment for order flow on execution speed and trading costs.

  • 00:25:00 - 00:30:00

    The host emphasizes the importance of platform user experience, including features like level two market data and hotkeys for executing trades. The discussion narrows down to brokers that meet the necessary criteria for active traders, eliminating those with inadequate platforms.

  • 00:30:00 - 00:36:45

    Finally, the host ranks the best brokers for various categories, including small accounts, commission-free trading, and international traders. The rankings are based on execution speed, commissions, and platform usability, with Light Speed trading emerging as the top-rated broker overall.

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Mind Map

Video-Fragen und Antworten

  • What are the top brokers for day trading?

    The video ranks 17 brokers, including Light Speed, Weeble, and Fidelity, based on execution speed and user experience.

  • Why is execution speed important for day trading?

    Fast execution speed is crucial for day traders to capitalize on market movements quickly and efficiently.

  • What is the difference between commission-free and paid brokers?

    Commission-free brokers often have slower execution speeds, while paid brokers provide faster execution but charge commissions.

  • How does payment for order flow work?

    Payment for order flow allows brokers to offer commission-free trading by routing orders to market makers who pay for the order flow.

  • What should I consider when choosing a broker?

    Consider execution speed, commissions, platform user experience, and whether the broker meets your trading needs.

  • Are there brokers suitable for small accounts?

    Yes, brokers like Ocean One and CME Capital Markets are recommended for small account traders.

  • Can international traders access these brokers?

    Some brokers, like Ocean One and Trade Zero, accept international traders, but options may vary by location.

  • What is the best broker for Canadians?

    Ocean One is recommended for Canadian traders, while Weeble is also an option but with some limitations.

  • What features should a trading platform have?

    Key features include level two market data, hotkeys, and the ability to see halt levels.

  • How can I learn more about day trading strategies?

    The presenter offers a free PDF guide on day trading strategies linked in the video description.

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Untertitel
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Automatisches Blättern:
  • 00:00:00
    [Music]
  • 00:00:01
    in today's episode I'm going to rank the
  • 00:00:03
    best brokers for day trading I'll be
  • 00:00:05
    comparing the top 17 most popular
  • 00:00:07
    Brokers that accept Traders from the
  • 00:00:09
    United States Canada and internationally
  • 00:00:12
    so no matter where you're located there
  • 00:00:13
    will be a broker on this list that you
  • 00:00:15
    could choose now I'm going to be
  • 00:00:16
    comparing these Brokers based on more
  • 00:00:19
    than 30 individual points of comparison
  • 00:00:21
    so this is a comprehensive Deep dive and
  • 00:00:24
    at the end of this episode I will give
  • 00:00:25
    each of these Brokers a Ross score I
  • 00:00:28
    will share with you whether or not I
  • 00:00:30
    would use them with real money so let's
  • 00:00:32
    go ahead and jump in to this broker
  • 00:00:34
    comparison now when it comes to day
  • 00:00:36
    trading one element that we need in our
  • 00:00:38
    Brokers that we just absolutely cannot
  • 00:00:41
    live without is fast order execution and
  • 00:00:44
    that's why order execution is our first
  • 00:00:45
    point of comparison so these 17 Brokers
  • 00:00:48
    here's something that's really
  • 00:00:49
    interesting they have wildly different
  • 00:00:51
    execution speeds you can see Weeble eade
  • 00:00:55
    these are among the slowest whereas
  • 00:00:57
    light speed guardian and Centerpoint are
  • 00:00:59
    among the fastest so here's the deal
  • 00:01:01
    when I see a stock hitting my scanners
  • 00:01:03
    and it's squeezing up I'll give you a
  • 00:01:05
    little demonstration this is one of my
  • 00:01:07
    favorite patterns to trade stock starts
  • 00:01:09
    squeezing up why is it moving higher
  • 00:01:11
    most likely it had breaking news right
  • 00:01:13
    here let's just say 8: a.m. eastern
  • 00:01:15
    standard time it's surging higher it
  • 00:01:17
    pulls back just for a moment we get a
  • 00:01:20
    little bottoming tail there and my
  • 00:01:22
    strategy is to buy the first candle to
  • 00:01:24
    make a new high so that right there
  • 00:01:26
    let's just say this is
  • 00:01:28
    $810 that's my entry point so when I see
  • 00:01:31
    the stock starting and nose up here and
  • 00:01:33
    pop up to that level I'm going to send
  • 00:01:35
    my buy order now let's just say that's
  • 00:01:37
    10,000 shares all right so 10,000 share
  • 00:01:39
    buy order and then this thing squeezes
  • 00:01:41
    up here if I send that order to the
  • 00:01:43
    market and I don't get filled at exactly
  • 00:01:46
    the price that I wanted on a pre-market
  • 00:01:48
    trade I'll miss the whole thing because
  • 00:01:51
    remember pre-market we don't have Market
  • 00:01:53
    orders we only have limit orders so when
  • 00:01:55
    I send that order it needs to get filled
  • 00:01:57
    in an instant and when I see this stock
  • 00:02:00
    starting to roll over I see one of my
  • 00:02:02
    exit indicators and I want to get out I
  • 00:02:04
    want to press that sell button and those
  • 00:02:06
    shares better be gone so you can expect
  • 00:02:09
    that with some Brokers but with others
  • 00:02:11
    well you're going to sit and wait and
  • 00:02:12
    here's the deal trading is hard enough
  • 00:02:15
    without using a broker with slow order
  • 00:02:17
    execution it just doesn't make sense so
  • 00:02:20
    here's how I got this data in this on
  • 00:02:22
    this row right here we have the
  • 00:02:23
    execution speed for each one of these
  • 00:02:25
    Brokers well with the exception of Robin
  • 00:02:27
    Hood which chooses not to publish this
  • 00:02:29
    data but all these other Brokers
  • 00:02:31
    actually publish this data so we can
  • 00:02:33
    look at it so let's look at Weeble for
  • 00:02:35
    instance Weeble right here under order
  • 00:02:37
    execution on their website they publish
  • 00:02:40
    the average execution speed now it
  • 00:02:42
    actually varies depending on the number
  • 00:02:45
    of shares that you're trading so you
  • 00:02:47
    have to kind of pull the average but if
  • 00:02:49
    you pull the average your average order
  • 00:02:51
    execution with Weeble is going to be
  • 00:02:54
    well unfortunately fairly slow .12
  • 00:02:57
    seconds but you know what's interesting
  • 00:02:59
    I decided to actually take all of this a
  • 00:03:01
    step further I funded accounts with
  • 00:03:04
    these Brokers executed trades and timed
  • 00:03:06
    them to see whether or not the execution
  • 00:03:09
    speeds that they're reporting were
  • 00:03:11
    accurate and you know what I found out
  • 00:03:12
    Weeble is actually a lot faster than I
  • 00:03:15
    expected and some of the ones that seem
  • 00:03:16
    to be fast well according to their
  • 00:03:18
    reports were actually much slower so wow
  • 00:03:21
    that adds a little bit more color to
  • 00:03:22
    this so here we go now on this these
  • 00:03:25
    Pages here for Robin Hood for Fidelity
  • 00:03:28
    for erade they all dis play their
  • 00:03:30
    average execution speed Fidelity says 04
  • 00:03:33
    seconds uh E Trade is uh .11 seconds
  • 00:03:37
    similar to uh Weeble trade station over
  • 00:03:41
    here at
  • 00:03:42
    0.43 seconds that's quite fast and
  • 00:03:45
    Charles Schwab over here at 05 seconds
  • 00:03:49
    so now these are all commission free
  • 00:03:52
    Brokers so the commission free Brokers
  • 00:03:54
    are supposed to file uh they have these
  • 00:03:58
    uh regulation 605 report that they file
  • 00:04:00
    which disclose order execution and um
  • 00:04:04
    the quality of the fill we'll talk more
  • 00:04:06
    about that in a moment but this right
  • 00:04:08
    here is the actual data of how long
  • 00:04:12
    these orders took to fill so I'm going
  • 00:04:14
    to just uh start by saying that the
  • 00:04:17
    slowest one right here it's it's beyond
  • 00:04:20
    slow so this is the this is the slowest
  • 00:04:23
    and this is Fidelity so I'm going to
  • 00:04:24
    pull up my fidelity account and I'm
  • 00:04:26
    going to show you what it looks like so
  • 00:04:28
    we're going to do just a quick execution
  • 00:04:29
    speed test on this so I'm going to press
  • 00:04:31
    an order for buy ask this is going to be
  • 00:04:34
    a buy order at the ask on Ford just for
  • 00:04:37
    10 shares I'm going to click the buy
  • 00:04:39
    button the way I time these orders is
  • 00:04:40
    the second I lift my thumb off the
  • 00:04:43
    button it's going to change from the
  • 00:04:45
    sort of Click down to the popped UPS uh
  • 00:04:47
    phase so when it changes like that
  • 00:04:50
    that's when I my second timer starts and
  • 00:04:53
    then on Fidelity it'll say right here
  • 00:04:56
    the order is filled long before it
  • 00:04:59
    actually displays in the position window
  • 00:05:02
    which is really kind of silly so in fact
  • 00:05:04
    for me the way I time Fidelity is I go
  • 00:05:07
    like this I click right now and it shows
  • 00:05:10
    open and then filled at
  • 00:05:13
    9465 but it's not showing in my
  • 00:05:15
    positions window right it's not showing
  • 00:05:18
    there it goes so that took a second so
  • 00:05:21
    when we actually time that and we'll go
  • 00:05:22
    sell we'll we'll do sell bid and we'll
  • 00:05:25
    flip around and just get rid of that
  • 00:05:26
    position so I click I sell it fills it's
  • 00:05:28
    still sitting there it's still and then
  • 00:05:30
    it's gone so when you actually time it
  • 00:05:33
    you pull it into the video editing
  • 00:05:34
    software like I did here and you time it
  • 00:05:36
    down to the second this is how long it
  • 00:05:38
    took for the actual position to update
  • 00:05:41
    that is way too long now how long it
  • 00:05:44
    took to actually fill the position was
  • 00:05:47
    this line right here because it shows
  • 00:05:49
    that it did fill it just took longer to
  • 00:05:51
    update so that is f Fidelity right here
  • 00:05:54
    so Fidelity came in at the slowest the
  • 00:05:57
    second slowest with real testing real
  • 00:05:59
    money Robin Hood the third Weeble the
  • 00:06:03
    fourth think or swi swim the second is
  • 00:06:06
    interactive brokers the third is trade
  • 00:06:09
    station right here and now wait a second
  • 00:06:11
    wait there's one more that right there
  • 00:06:13
    is light speed trading so this also puts
  • 00:06:16
    in perspective this is Light Speed
  • 00:06:18
    trading right there that broker that
  • 00:06:20
    right there is light speed trading order
  • 00:06:22
    execution and then there's Fidelity holy
  • 00:06:26
    smokes I mean we're talking about a
  • 00:06:28
    completely different ball game here
  • 00:06:30
    right in terms of execution speed so now
  • 00:06:33
    let me just say one thing I want let me
  • 00:06:34
    say two things the first thing I want to
  • 00:06:36
    say right now is that I have zero
  • 00:06:38
    affiliate relationship with any broker
  • 00:06:40
    dealer so I'm not paid to tell you one
  • 00:06:42
    is better than the other it makes no
  • 00:06:44
    difference to me which broker you use
  • 00:06:46
    except that I want to see you using
  • 00:06:48
    Brokers that allow you to extract profit
  • 00:06:50
    from the market which means in my
  • 00:06:52
    opinion you need a broker that is super
  • 00:06:55
    fast so the broker that I'm choosing to
  • 00:06:57
    use is Light Speed it is fast it's the
  • 00:07:00
    fastest of the Brokers I've tested but I
  • 00:07:03
    do pay a commission there so I pay a fee
  • 00:07:05
    for that speed with commission free
  • 00:07:07
    Brokers you get well you get free
  • 00:07:10
    commissions but the sacrifice is on
  • 00:07:12
    execution speed now that might not seem
  • 00:07:15
    totally intuitive why would it be that
  • 00:07:19
    free is is slower how does that
  • 00:07:21
    translate why is that the case well
  • 00:07:23
    let's jump back on the to the Whiteboard
  • 00:07:25
    here and let me help you better
  • 00:07:26
    understand this so the Brokers that are
  • 00:07:28
    on this compar comparison sheet really
  • 00:07:30
    fall into two camps on the one hand we
  • 00:07:33
    have Brokers that are commission free
  • 00:07:36
    they charge zero commission but you'll
  • 00:07:38
    notice that for all of them the order
  • 00:07:41
    execution is a little bit slower so the
  • 00:07:43
    second um line item here is commissions
  • 00:07:47
    commission for options commission for
  • 00:07:48
    stock so these Brokers here are all
  • 00:07:52
    commission free except for uh
  • 00:07:54
    interactive brokers right there so these
  • 00:07:56
    ones are commission free so you know
  • 00:07:57
    what I'll just go ahead I'll bump one
  • 00:08:00
    column to the left and I'll just move
  • 00:08:02
    interactive brokers um ibkr Pro and I'll
  • 00:08:05
    put it over there just so we're all
  • 00:08:06
    grouped together here all right so I'll
  • 00:08:08
    insert one more column to the left so
  • 00:08:10
    all of these Brokers here are and I'll
  • 00:08:12
    just make this white all of these
  • 00:08:14
    Brokers here are commission free so the
  • 00:08:17
    fastest commission free broker that I
  • 00:08:19
    timed is trade zero trade zero USA trade
  • 00:08:22
    zero International Weeble well it they
  • 00:08:26
    disclose that they're the slowest but
  • 00:08:28
    actually in my own testing uh they were
  • 00:08:30
    they weren't that bad now again these
  • 00:08:32
    these just my tests so it it obviously
  • 00:08:35
    will vary and I should assume that their
  • 00:08:38
    results are going to be the most
  • 00:08:39
    accurate because they're obviously um
  • 00:08:42
    compiling and aggregating thousands and
  • 00:08:44
    thousands of Trades whereas I'm just
  • 00:08:46
    taking a couple of sample trades that
  • 00:08:48
    are my own so I could take their word
  • 00:08:50
    for it that on average this is their
  • 00:08:52
    speed and I should do the same with
  • 00:08:53
    Fidelity on average that's going to be
  • 00:08:55
    their speed even though my experience
  • 00:08:56
    was a little bit different that probably
  • 00:08:58
    is the typical experience so nonetheless
  • 00:09:01
    these Brokers at the fastest are 035
  • 00:09:04
    seconds whereas light speed Guardian
  • 00:09:07
    Centerpoint Cobra CME ocean 1 and
  • 00:09:11
    interactive brokers here are all
  • 00:09:13
    significant well interactive brokers is
  • 00:09:15
    kind of on the cusp but the rest of them
  • 00:09:17
    are all quite a bit faster so the reason
  • 00:09:20
    for this is because of the the way
  • 00:09:23
    orders are actually sent to the market
  • 00:09:26
    so we're going to take a moment and I'm
  • 00:09:27
    going to help you understand exactly how
  • 00:09:29
    Market structure works by the way my
  • 00:09:31
    name is Ross Cameron I am a full-time
  • 00:09:32
    Trader and I funded my first account in
  • 00:09:34
    2001 more than 20 years ago so I have a
  • 00:09:37
    unique perspective here having traded
  • 00:09:39
    for so long having used dozens of
  • 00:09:41
    different Brokers and platforms to be
  • 00:09:42
    able to share with you what I think are
  • 00:09:44
    the key features that you need in order
  • 00:09:47
    to extract profit consistently so um now
  • 00:09:50
    let's go ahead and jump onto the
  • 00:09:51
    Whiteboard I just wanted to introduce
  • 00:09:52
    myself for those that perhaps are tuning
  • 00:09:54
    in for the first time okay so um this is
  • 00:09:57
    the way it works this is you right here
  • 00:10:00
    this is your broker and we're going to
  • 00:10:02
    do this kind of in the old days this is
  • 00:10:04
    the market here so this is actual Wall
  • 00:10:08
    Street that's the that's this is the
  • 00:10:09
    exchange right here so NASDAQ New York
  • 00:10:11
    Stock Exchange so in the old days this
  • 00:10:14
    is this is your your grandfather your
  • 00:10:16
    grandmother they had to call their
  • 00:10:18
    broker and what did the broker do the
  • 00:10:19
    broker had to call their Trader that was
  • 00:10:22
    on the floor and their Trader walked
  • 00:10:24
    over got your shares came back gave it
  • 00:10:26
    to the broker and so on so forth now in
  • 00:10:28
    the 19 '90s we had the um the the
  • 00:10:32
    release of electronic trading platforms
  • 00:10:34
    and so all of this became electronic so
  • 00:10:37
    you instead of having to actually call
  • 00:10:38
    your broker you're using you know now at
  • 00:10:40
    this point an app or a desktop uh
  • 00:10:42
    platform on your computer so you send
  • 00:10:44
    the order to the broker it goes
  • 00:10:46
    electronically to The Exchange and comes
  • 00:10:48
    right back now what you may not realize
  • 00:10:51
    is that the exchange has to make money
  • 00:10:55
    so they need to make money to cover all
  • 00:10:56
    their operating expenses and the way
  • 00:10:58
    they do that is by charging a fee on
  • 00:11:01
    every share that goes to and from the
  • 00:11:03
    market so the fee is per share so
  • 00:11:06
    whether it's one share or 100,000 shares
  • 00:11:09
    your your rate of what you would get
  • 00:11:10
    charged is based on the number of shares
  • 00:11:12
    you trade so the broker has to pay that
  • 00:11:15
    fee so in the past we used to have to
  • 00:11:18
    pay our broker a commission of like
  • 00:11:21
    $9.99 right old TDM trade it was $9.99
  • 00:11:25
    old eade before commission free trading
  • 00:11:27
    this is how much we paid and then there
  • 00:11:30
    was um something that changed and this
  • 00:11:33
    is the payment for orderflow business
  • 00:11:35
    model so payment for orderflow uh Works
  • 00:11:39
    a little bit differently you have market
  • 00:11:41
    makers uh which are institutional
  • 00:11:43
    Traders so institutional trading firms
  • 00:11:46
    these huge uh financial institutions
  • 00:11:49
    what they decided to do is they actually
  • 00:11:50
    went to the broker and they said hey we
  • 00:11:53
    got an idea instead of sending all your
  • 00:11:55
    orders to the exchange can we buy all
  • 00:11:59
    all of your orders you send them all to
  • 00:12:01
    us so we will execute the orders
  • 00:12:03
    essentially on our own it's like an
  • 00:12:06
    exchange but they actually call it an
  • 00:12:08
    alternative trading system an ATS or a
  • 00:12:11
    dark pool so the institution is going to
  • 00:12:13
    fill all of the orders here and those
  • 00:12:15
    orders actually don't route out to the
  • 00:12:17
    market so how does this work well the
  • 00:12:19
    institutional Traders are actually
  • 00:12:21
    essentially scalping fractions of a
  • 00:12:24
    penny on all of those uh orders that go
  • 00:12:27
    through so instead of the exchange
  • 00:12:29
    making money now the institution is
  • 00:12:31
    making money on the actual trades so
  • 00:12:34
    because they're making so much money
  • 00:12:37
    they pay the broker in payment for
  • 00:12:40
    orderflow so the broker is now getting
  • 00:12:42
    paid they're getting paid enough that
  • 00:12:44
    they realize wait a second we could get
  • 00:12:46
    rid of the commission and if we get rid
  • 00:12:47
    of the commission you know what that's
  • 00:12:48
    going to mean it's going to mean more
  • 00:12:50
    trading and more trading means more
  • 00:12:53
    money so now there's this relationship
  • 00:12:55
    where the Brokers are really trying to
  • 00:12:57
    encourage more Trading because higher
  • 00:12:59
    volume means more trading volume going
  • 00:13:02
    to the market makers in payment for
  • 00:13:04
    order flow and more profit to them now
  • 00:13:06
    because of the inherent potential for a
  • 00:13:09
    conflict of interest in this
  • 00:13:10
    relationship the Brokers are required to
  • 00:13:13
    file disclosures which disclose the
  • 00:13:15
    following execution speed and quality of
  • 00:13:19
    execution so the speed well we
  • 00:13:21
    understand that it's it's pretty obvious
  • 00:13:23
    the speed is slower than Brokers that
  • 00:13:27
    currently allow you to send your orders
  • 00:13:29
    straight to the market so this is now
  • 00:13:32
    where we have um the the free commission
  • 00:13:35
    Brokers down here free Comm
  • 00:13:37
    Brokers and then we have the um I would
  • 00:13:41
    say direct access Brokers um even if
  • 00:13:45
    it's not exactly direct access we're
  • 00:13:46
    just going to sort of call it that these
  • 00:13:48
    the Brokers that send your order
  • 00:13:50
    directly to the market but you still pay
  • 00:13:52
    a commission plus fees right you still
  • 00:13:55
    are paying this fee but what you're
  • 00:13:57
    getting in exchange is fast execution
  • 00:14:00
    now I know this looks like a little bit
  • 00:14:01
    of a crazy whiteboard but hopefully
  • 00:14:03
    you're able to follow along with that so
  • 00:14:05
    these commission free Brokers now are
  • 00:14:07
    filing their quarterly disclosures which
  • 00:14:09
    are what I pulled right here this is
  • 00:14:11
    where they're actually saying how fast
  • 00:14:13
    your execution is except for Robinhood
  • 00:14:15
    but all the others display the speed and
  • 00:14:17
    they're telling you the ex execution
  • 00:14:20
    price Improvement which means
  • 00:14:22
    essentially the argument here of
  • 00:14:26
    why why a retail Trader should use a
  • 00:14:29
    commission free broker is that you get
  • 00:14:33
    commission free trading so you're saving
  • 00:14:35
    money and the institutions that are
  • 00:14:38
    doing payment for orderflow can do
  • 00:14:40
    something the exchanges can't do they
  • 00:14:42
    can split the penny so if you've ever
  • 00:14:45
    looked at a stock trading on one of the
  • 00:14:46
    big exchanges and I'll just pull up um
  • 00:14:49
    my orders right here so xnet this stock
  • 00:14:51
    right here 391 by 392 right a 1-cent
  • 00:14:55
    spread so if you bought 10,000 shares
  • 00:14:58
    and sold it across cross the spread
  • 00:14:59
    that'd be $100 right it's a $100 spread
  • 00:15:02
    with 10,000 shares with $100,000 shares
  • 00:15:04
    it's a $1,000 spread and so what the
  • 00:15:07
    alternative trading systems are doing is
  • 00:15:09
    they're actually able to cut the penny
  • 00:15:11
    in half the exchanges can't do that
  • 00:15:13
    transactions can't go through between
  • 00:15:15
    the spread it's either it's the it's is
  • 00:15:17
    the spread which is 1 cent but the
  • 00:15:19
    alternative trading systems can so what
  • 00:15:21
    they essentially do is they split the
  • 00:15:23
    spread so now on 100,000 shares of
  • 00:15:25
    volume which just one Trader like myself
  • 00:15:28
    might do 500 th000 shares of volume so
  • 00:15:30
    they could make potentially they
  • 00:15:32
    wouldn't make $5,000 but maybe they make
  • 00:15:34
    a third of that maybe on one Trader like
  • 00:15:36
    me they could make $1,500 a day so I'm
  • 00:15:39
    getting a little bit of that kicked back
  • 00:15:41
    to me in terms of when I press the sell
  • 00:15:44
    button instead of getting filled at
  • 00:15:46
    391 I'm getting filled at 391 and a
  • 00:15:50
    quarter of a penny so on 100,000 shares
  • 00:15:54
    I got $250 of quote price Improvement I
  • 00:15:58
    got a little price Improvement the
  • 00:15:59
    broker made a little money the
  • 00:16:01
    alternative trading system and the
  • 00:16:02
    market maker made a little bit of money
  • 00:16:04
    and the person who sold the stock also
  • 00:16:06
    made a little money so everyone seems to
  • 00:16:09
    win and the big loser in all this is the
  • 00:16:12
    exchange and that's because the exchange
  • 00:16:14
    doesn't allow trading below 1 cent so if
  • 00:16:18
    they really wanted to eliminate payment
  • 00:16:19
    for order flow they would probably
  • 00:16:21
    change the rules and say that the
  • 00:16:23
    alternative trading systems can't split
  • 00:16:26
    the penny or they would say exchanges
  • 00:16:28
    can split the penny and then it's even
  • 00:16:30
    but until that happens it hasn't
  • 00:16:32
    happened yet it might might not ever
  • 00:16:34
    happen uh this is the arrangement that
  • 00:16:36
    we have so payment for order
  • 00:16:39
    flow uh the the so so at the end of the
  • 00:16:43
    day traders who are using Brokers that
  • 00:16:45
    offer payment for order flow are getting
  • 00:16:47
    something of real value if you trade an
  • 00:16:49
    average of uh let's say so let me pull
  • 00:16:52
    up the price Improvement so this is the
  • 00:16:55
    column for Price Improvement so all of
  • 00:16:57
    these Brokers here have no no price
  • 00:16:59
    Improvement at all you don't get price
  • 00:17:00
    Improvement because it's not a
  • 00:17:01
    commission free broker but with Weeble
  • 00:17:04
    you get 31 cents of price Improvement
  • 00:17:07
    for every hundred shares 31 cents okay
  • 00:17:09
    so you know what maybe that's not a lot
  • 00:17:10
    of money maybe it's not enough to make
  • 00:17:12
    it worth using because the order
  • 00:17:14
    execution is slow trade zero um they
  • 00:17:17
    don't publish the exact amount but they
  • 00:17:18
    say you get Improvement on 25% of your
  • 00:17:20
    orders trade station gives you price
  • 00:17:22
    Improvement of
  • 00:17:24
    a129 for every hundred shares so now you
  • 00:17:27
    do a th000 shares that's $102 of price
  • 00:17:29
    Improvement you do 100,000 shares I mean
  • 00:17:32
    this starts to add up and so in a sense
  • 00:17:36
    you could start to get paid to trade
  • 00:17:39
    because you get to split some of the
  • 00:17:41
    profit from the payment for orderflow
  • 00:17:42
    relationship so just for the sake of
  • 00:17:44
    argument let me show you what it looks
  • 00:17:46
    like to get paid to trade by a
  • 00:17:47
    commission free broker all right so I'm
  • 00:17:49
    going to pull up uh thinker swim here
  • 00:17:51
    now think the Thinker swi platform as we
  • 00:17:54
    said I'm not a fan of it I think it's
  • 00:17:56
    too slow it's too clunky I don't have my
  • 00:17:58
    hot keys so one of the other points of
  • 00:18:00
    comparison that we have to look at for
  • 00:18:03
    all these platforms we've got number one
  • 00:18:05
    execution speed we've got number two
  • 00:18:07
    commission and then the third that's
  • 00:18:09
    really critical in my experience is the
  • 00:18:11
    platform ux the user experience the
  • 00:18:14
    ability to use hot Keys the ability to
  • 00:18:16
    see level two and and everything else so
  • 00:18:19
    I'm going to pull up Dash Trader this is
  • 00:18:21
    software that I have integrated with my
  • 00:18:25
    thinker swim Charles Schwab account so
  • 00:18:26
    instead of using thinker swim I can
  • 00:18:28
    execute all my trades right here and I'm
  • 00:18:30
    going to show you forward so right now
  • 00:18:32
    I'm up $2.94 and let me just show you
  • 00:18:34
    what happens if I start trading this so
  • 00:18:36
    I'm going to start buying this right
  • 00:18:37
    here and I'm going to use a hotkey I
  • 00:18:39
    could do shift one for a hotkey for 10
  • 00:18:41
    shares so now I'm going to start buying
  • 00:18:43
    it I've now got 100 shares now I'm going
  • 00:18:46
    to start selling it and look at this now
  • 00:18:47
    I'm up
  • 00:18:48
    $3 you see this $
  • 00:18:51
    3.97 do you see how I'm actually making
  • 00:18:54
    money right now doesn't seem like that
  • 00:18:56
    should work that way but
  • 00:18:59
    in fact it does I'll mute my speaker so
  • 00:19:01
    it's quiet so this is kind of crazy but
  • 00:19:05
    the reason that I'm able to make this
  • 00:19:07
    money is because of payment for
  • 00:19:10
    orderflow so the broker my thinker swim
  • 00:19:14
    Charles Schwab sends the order through
  • 00:19:16
    the wholesaler and the wholesaler splits
  • 00:19:19
    the penny so they get a little bit of
  • 00:19:20
    profit I get a little bit of profit and
  • 00:19:22
    the person I'm buying the shares from
  • 00:19:24
    gets a little bit of profit so
  • 00:19:26
    essentially they you you've got and and
  • 00:19:29
    I'm going to cancel these open orders
  • 00:19:30
    there's a few still still out there so
  • 00:19:32
    you've got people that are it seems like
  • 00:19:35
    everyone is making money in this
  • 00:19:37
    relationship except for who the exchange
  • 00:19:40
    so now at this point you guys have a
  • 00:19:41
    great understanding of Market structure
  • 00:19:43
    and you recognize that you don't get
  • 00:19:45
    fast execution and commission-free
  • 00:19:47
    trading in one package you really have
  • 00:19:49
    to choose one of the other and
  • 00:19:50
    prioritize one of the two for me for my
  • 00:19:53
    day trading strategy I prioritize speed
  • 00:19:57
    and I'm willing to pay the Commission in
  • 00:19:59
    fact I believe and I'm quite certain of
  • 00:20:02
    this that the the cost that I spend in
  • 00:20:04
    commission is less than the amount of
  • 00:20:06
    money I would lose as a result of Simply
  • 00:20:09
    missing opportunities because when I've
  • 00:20:11
    used commission free Brokers while some
  • 00:20:14
    of them are faster than others even the
  • 00:20:15
    fastest ones they just don't compete
  • 00:20:18
    with direct access Brokers so you could
  • 00:20:20
    see again just on here I mean this is
  • 00:20:22
    this is what we're talking about we're
  • 00:20:23
    talking about you know a a just such a
  • 00:20:26
    big multiple of speed difference it it's
  • 00:20:29
    you just can I mean you can compare it
  • 00:20:31
    obviously but uh but it really doesn't
  • 00:20:34
    it doesn't compare the only reason
  • 00:20:36
    anyone would choose any of these other
  • 00:20:37
    Brokers is because they're free that's
  • 00:20:39
    that's their compelling that's their
  • 00:20:41
    advantage that's their offering and the
  • 00:20:43
    reason that people continue to pay for
  • 00:20:46
    Brokers like these ones here is because
  • 00:20:49
    they're fast it's because of the speed
  • 00:20:51
    that's what you're paying for okay so
  • 00:20:53
    our first uh point of comparison was
  • 00:20:55
    execution speed and our second was
  • 00:20:57
    commission and there was a lot to cover
  • 00:20:58
    on that because it's it's not totally
  • 00:21:01
    black and white to most beginner Traders
  • 00:21:03
    why there's such a wild difference in
  • 00:21:05
    commissions and execution speed all
  • 00:21:07
    right so then the next thing that we
  • 00:21:10
    have to look at in my opinion is
  • 00:21:12
    platform user experience because you
  • 00:21:15
    could have fast execution speed and you
  • 00:21:16
    could have relatively reasonable
  • 00:21:18
    commissions you know whatever but if you
  • 00:21:21
    don't have a good platform none of that
  • 00:21:23
    matters if you're using software that
  • 00:21:24
    crashes repeatedly obviously none of the
  • 00:21:27
    other things matter so these are sort of
  • 00:21:29
    the three most critical components
  • 00:21:31
    execution speed commissions and your
  • 00:21:33
    platform user experience so we're going
  • 00:21:35
    to scroll down on this sheet a little
  • 00:21:36
    bit I group the most important platform
  • 00:21:39
    ux features right down here the first
  • 00:21:42
    one is we need to have level two Market
  • 00:21:44
    data that's the depth of the market
  • 00:21:46
    that's critical I think that that goes
  • 00:21:47
    without saying but for some of you that
  • 00:21:49
    may be information that's new so level
  • 00:21:52
    two data is critical and you get it
  • 00:21:54
    basically everywhere except on Robin
  • 00:21:56
    Hood Legend and ibkr light both both of
  • 00:21:58
    them I think it's coming soon but it's
  • 00:22:00
    not here yet now the second is hot Keys
  • 00:22:04
    hot keys are what I was using on Das
  • 00:22:06
    Trader that allow me to execute orders
  • 00:22:08
    with a press of a button and are super
  • 00:22:10
    fast they are critical and while you
  • 00:22:13
    have them to a limited extent on thinker
  • 00:22:16
    swim they're not functional to what I
  • 00:22:18
    need you also don't have them on a ibkr
  • 00:22:21
    light you don't have them on Fidelity
  • 00:22:23
    and you don't have them on Robin Hood
  • 00:22:24
    Legend which is crazy so these these
  • 00:22:26
    three Brokers really are completely off
  • 00:22:28
    the the list like they're just on the
  • 00:22:29
    side cuz they're not even they're not
  • 00:22:31
    even worth considering for me the next
  • 00:22:33
    Point uh for ux is hotkey offsets a
  • 00:22:37
    hotkey offset is when we say I want to
  • 00:22:40
    buy at the ask plus 10 cents and the
  • 00:22:42
    reason we would do that type of order is
  • 00:22:44
    because during the pre-market session
  • 00:22:46
    when these stocks are moving quickly if
  • 00:22:48
    there's only 100 shares for sale on the
  • 00:22:50
    ask but you want to buy a th you need to
  • 00:22:53
    make sure that you can not only buy the
  • 00:22:54
    100 shares for sale at the ask but you
  • 00:22:56
    can buy the next 500 shares or th000
  • 00:22:58
    that are a couple of cents higher so you
  • 00:23:00
    need to set your order so it's a limit
  • 00:23:02
    order to buy ask plus 10 cents or
  • 00:23:05
    whatever the case is I use ask plus 10
  • 00:23:08
    so if I can't do an offset then I'm not
  • 00:23:11
    going to be able to trade the way I want
  • 00:23:12
    to trade and that's what puts Charles
  • 00:23:15
    Schwab with a thinker swim platform out
  • 00:23:17
    of the running for me so the only way I
  • 00:23:19
    would use Charles Schwab is by
  • 00:23:20
    integrating with Dash Trader and
  • 00:23:23
    spending the extra $175 a month right
  • 00:23:26
    now the third our fourth point of comp
  • 00:23:28
    comparison is the ability to sell based
  • 00:23:30
    on a percentage of your position so if
  • 00:23:32
    we pull up um thinker swim here or
  • 00:23:35
    Charles Schwab here again I'm going to
  • 00:23:36
    take kind of some odd positions here so
  • 00:23:38
    I'll take 10 shares and I'll mute the
  • 00:23:40
    audio here so I'll I'll add a little bit
  • 00:23:42
    more so now I've got 60 shares I'm going
  • 00:23:45
    to press contr X and that's going to
  • 00:23:47
    sell half my position gone 30 shares
  • 00:23:49
    sell another 30 gone sell another
  • 00:23:51
    another 15 I'm selling in halves so see
  • 00:23:54
    how it's automatically calculating the
  • 00:23:56
    number of shares I've got so those
  • 00:23:58
    numbers are changing based on how I'm
  • 00:24:00
    pressing the buttons and I made another
  • 00:24:03
    couple bucks there or well a couple
  • 00:24:04
    cents at least so that is critical for
  • 00:24:07
    me because I want to be able to trade
  • 00:24:09
    without having to type in the number of
  • 00:24:10
    shares I'm holding so unfortunately that
  • 00:24:13
    puts interactive brokers Trader
  • 00:24:14
    workstation on the no list and trade
  • 00:24:17
    station for that reason well they don't
  • 00:24:20
    meet that standard neither justes think
  • 00:24:22
    or Swim neither does E Trade neither do
  • 00:24:24
    Robin Hood Fidelity or ibkr light and
  • 00:24:28
    then the next is seeing halt levels and
  • 00:24:31
    halt resumption quotes So when a stock
  • 00:24:33
    is about to be halted I'll pull up
  • 00:24:35
    thinker swim here um mlgo this stock has
  • 00:24:38
    an lld Limit Up limit down halt level at
  • 00:24:41
    460 that means if the stock goes to 460
  • 00:24:44
    right now it'll halt up if it drops to
  • 00:24:46
    377 it'll halt down I need to know those
  • 00:24:49
    prices I'm trading volatile Securities
  • 00:24:51
    and I need to know if it's about to get
  • 00:24:53
    halted so if I can't see halt levels
  • 00:24:55
    that's going to be a problem so any
  • 00:24:58
    essentially any platform that doesn't
  • 00:24:59
    display halot levels is not going to be
  • 00:25:01
    a platform an active Traders going to be
  • 00:25:03
    able to use certainly if you're trading
  • 00:25:05
    volatile stocks now if you're trading
  • 00:25:07
    large caps which almost never halt
  • 00:25:09
    that's different but if you're trading a
  • 00:25:11
    strategy more similar to mine then
  • 00:25:13
    you're really going to need to trade uh
  • 00:25:15
    you're you're really going to need to
  • 00:25:16
    see halt levels so all right so now um
  • 00:25:20
    so trade station is also out on that uh
  • 00:25:23
    thinker swim is out e trades out these
  • 00:25:25
    ones are all gone and all we really have
  • 00:25:28
    have left here are the direct access
  • 00:25:30
    Brokers plus Weeble so Weeble to me
  • 00:25:35
    really is a solid platform when it comes
  • 00:25:36
    to ux
  • 00:25:38
    now from the ux perspective we've now
  • 00:25:41
    kind of narrowed this down to
  • 00:25:43
    interactive brokers Pro doesn't meet
  • 00:25:45
    doesn't kind of Meet the standard
  • 00:25:47
    unfortunately so they're going to be off
  • 00:25:49
    the list as well uh so now we're down to
  • 00:25:51
    these two four six uh seven Brokers that
  • 00:25:55
    are all uh fast execution super super
  • 00:25:58
    fast but charge a commission and we're
  • 00:26:00
    down to really like three and then
  • 00:26:03
    Charles Schwab only if you're willing to
  • 00:26:05
    use Dash Trader and spend an extra 175 a
  • 00:26:07
    month and if you do that I actually have
  • 00:26:09
    another um let's see let me just I'm
  • 00:26:12
    going to insert a column right here and
  • 00:26:14
    I'm I'm going to just go let's see I'm
  • 00:26:15
    going to insert a column one to the left
  • 00:26:17
    and I'm going to add Schwab with dask
  • 00:26:20
    there we go okay so now when we add
  • 00:26:22
    Charles Schwab using DH Trader yes this
  • 00:26:24
    is going to be an extra 175 a month but
  • 00:26:26
    all of these check out so this is is now
  • 00:26:28
    something that we could say is is doable
  • 00:26:31
    by the way for those of you guys that
  • 00:26:32
    are watching and are interested in
  • 00:26:33
    learning more about my day trading
  • 00:26:35
    strategy I will put a link I'll pin to
  • 00:26:37
    the top comments and I'll put in the
  • 00:26:38
    description where you can download my
  • 00:26:39
    small account worksheet it's a PDF
  • 00:26:41
    that's going to walk you through my five
  • 00:26:43
    criteria for stock selection how I
  • 00:26:45
    manage my risk and I'm going to share
  • 00:26:47
    with you some more details about the
  • 00:26:48
    entry indicators and the exit indicators
  • 00:26:50
    that I use to get in and out of my
  • 00:26:52
    trades every single day so if you're a
  • 00:26:53
    beginner Trader wanting to learn more
  • 00:26:55
    about day trading strategy you're
  • 00:26:57
    welcome to download that free pdf as a
  • 00:26:59
    resource okay so you guys can check that
  • 00:27:01
    out now there's another important point
  • 00:27:03
    of comparison and that is account size
  • 00:27:05
    you might have a broker that you would
  • 00:27:06
    love to use but their minimum account
  • 00:27:08
    size is $25,000 so well that broker is
  • 00:27:12
    off the list so here's what I'm going to
  • 00:27:13
    do I'm going to begin ranking the best
  • 00:27:15
    brokers and I'm going to rank them based
  • 00:27:17
    on category and the first category will
  • 00:27:19
    be best brokers for small accounts now
  • 00:27:23
    if you are a small account Trader and
  • 00:27:24
    you are located in the United States you
  • 00:27:27
    know that in order to day trade with a
  • 00:27:29
    margin account where you would get
  • 00:27:31
    typically four times leverage you need a
  • 00:27:33
    minimum of
  • 00:27:35
    $25,000 yes of course you could fund an
  • 00:27:37
    account with cash and with a cash
  • 00:27:39
    account if you take uh if it's $2,000
  • 00:27:41
    account you've got a th000 shares of a
  • 00:27:42
    $2 stock that's $2,000 position you take
  • 00:27:45
    that trade you close it and you can't
  • 00:27:47
    trade again until tomorrow because you
  • 00:27:48
    got to wait for that trade to settle so
  • 00:27:50
    essentially you could take you know like
  • 00:27:52
    a couple trades a day which is better
  • 00:27:54
    than nothing but it it's not as much as
  • 00:27:56
    most people would want a day trade so a
  • 00:27:58
    us uh Trader the best broker for small
  • 00:28:02
    accounts well they're going to be
  • 00:28:03
    International Brokers now these three
  • 00:28:05
    are what I would say the best brokers
  • 00:28:08
    for small accounts and only two of them
  • 00:28:10
    except us Traders ocean one Securities
  • 00:28:13
    and cmeg capital markets Elite group
  • 00:28:16
    they accept us customers and they offer
  • 00:28:18
    six times leverage so with $1,000
  • 00:28:20
    deposit you've got $66,000 of buying
  • 00:28:23
    power now let me be the first to tell
  • 00:28:24
    you that trading with leverage on
  • 00:28:27
    borrowed money with a small account is
  • 00:28:28
    very risky and you really shouldn't do
  • 00:28:30
    it you should really practice instead in
  • 00:28:32
    that cash account with small share size
  • 00:28:35
    and only scale up to potentially using
  • 00:28:38
    one of these Brokers once you've already
  • 00:28:39
    got a proven track record so trade zero
  • 00:28:42
    International uh they do offer six times
  • 00:28:45
    leverage and they don't enforce the PDT
  • 00:28:46
    rule but they don't accept us residents
  • 00:28:50
    so if you're in um you're in the UK or
  • 00:28:53
    you're in Europe or whatever then you
  • 00:28:54
    could open an account with trade zero
  • 00:28:55
    International with $500 and would be
  • 00:28:58
    fine but they're not going to be a
  • 00:29:00
    broker for us residents now I suppose on
  • 00:29:03
    that same note I have another tab here
  • 00:29:05
    of best brokers for international
  • 00:29:06
    Traders and there'll be a couple others
  • 00:29:08
    over there um so International Traders
  • 00:29:11
    do have more options but for us Traders
  • 00:29:14
    with small accounts you've got only two
  • 00:29:16
    options and they both score pretty
  • 00:29:18
    similarly on the raw score of 1 to 10 a
  • 00:29:21
    7.75 for ocean one the only reason they
  • 00:29:24
    score slightly higher is because the
  • 00:29:25
    execution speed is so fast the
  • 00:29:28
    commission is a little higher than CME
  • 00:29:31
    and CME so a little lower commission but
  • 00:29:33
    a little higher uh order speed and and
  • 00:29:36
    and the the longer order speed with ceg
  • 00:29:39
    most of the orders are very fast but
  • 00:29:41
    occasionally orders will lag and I don't
  • 00:29:43
    know why that is but it does happen to
  • 00:29:45
    me uh so that's a little bit of a
  • 00:29:47
    problem and then trade zero you know
  • 00:29:50
    again like I said not a broker for us
  • 00:29:51
    customers or us Traders but for
  • 00:29:53
    international traders who want six times
  • 00:29:56
    leverage and who don't want to be uh
  • 00:29:58
    putting in $25,000 to be above the PDT
  • 00:30:01
    rule so these are my ranking of the best
  • 00:30:04
    brokers for small accounts now let me
  • 00:30:07
    give you my ranking of the best brokers
  • 00:30:09
    for commission free trading when it
  • 00:30:11
    comes to commission free trading Robin
  • 00:30:13
    Hood Fidelity interactive brokers ibkr
  • 00:30:16
    light erade Pro and Charles Schwab using
  • 00:30:19
    thinker swim are pretty much out of the
  • 00:30:21
    running they're really not that great
  • 00:30:24
    now Charles Schwab is the only one that
  • 00:30:25
    I would say I know some of you guys like
  • 00:30:27
    thinker swim and if it works for you
  • 00:30:29
    then by all means but the fact that they
  • 00:30:31
    don't have the hotkey offsets they don't
  • 00:30:33
    have the halt resumptions it just the
  • 00:30:35
    platform's not good enough for me so I
  • 00:30:38
    would give honestly the best score would
  • 00:30:41
    be to Weeble because their desktop
  • 00:30:43
    software is phenomenal and it's a 7.5
  • 00:30:45
    right out of the gates that software is
  • 00:30:47
    great yes the order routing is a little
  • 00:30:49
    slower but that's what they disclose in
  • 00:30:51
    my own experience it really wasn't that
  • 00:30:53
    bad so I think they're a great broker
  • 00:30:55
    for a relatively small account such as a
  • 00:30:58
    cash account if you've got a cash
  • 00:31:00
    account you could trade there you run
  • 00:31:02
    out of cash you trade again the next day
  • 00:31:04
    you don't have to pay $175 for a
  • 00:31:06
    platform fee Charles Schwab D Trader
  • 00:31:09
    $175 a month for that extra software but
  • 00:31:12
    it's a great platform you get great
  • 00:31:14
    price Improvement and this is a great
  • 00:31:16
    one if you've got more than
  • 00:31:17
    $25,000 and you're trading hundreds of
  • 00:31:20
    thousands or even millions of shares a
  • 00:31:21
    day because you're going to get really
  • 00:31:23
    nice price Improvement trade station
  • 00:31:25
    it's fast but the platform the ux nah
  • 00:31:29
    it's not as good as it could be so the
  • 00:31:31
    the winner is Weeble the runner up is
  • 00:31:34
    Schwab using Dash Trader and to be
  • 00:31:36
    honest if I was with Schwab using Dash
  • 00:31:38
    Trader I would be seriously considering
  • 00:31:41
    some of the other Brokers that are out
  • 00:31:43
    there that do charge a commission but
  • 00:31:45
    have faster execution because I would
  • 00:31:47
    wonder if that could make the difference
  • 00:31:49
    but in profitability so that's something
  • 00:31:51
    I would consider now the next ranking
  • 00:31:53
    best brokers for Canadians now I have a
  • 00:31:55
    full Breakaway episode for Canadian so
  • 00:31:58
    you can check that out if you haven't
  • 00:31:59
    already but this is going to be a
  • 00:32:01
    similar ranking ocean one they accept
  • 00:32:04
    Canadians Brokers like trade station
  • 00:32:06
    Charles Schwab they don't accept
  • 00:32:08
    Canadians so you can't even trade there
  • 00:32:09
    even if you want to trade zero Canada
  • 00:32:12
    Weeble Canada Centerpoint Canada $25,000
  • 00:32:16
    $30,000 minimum at Centerpoint Canada
  • 00:32:19
    and then interactive brokers it's just
  • 00:32:20
    not good enough so it's on I mean I
  • 00:32:22
    honestly I could take it off the list
  • 00:32:24
    it's just it's just to me really not
  • 00:32:26
    good well I'll just leave it on there
  • 00:32:27
    for right now but that's the score it's
  • 00:32:29
    available for Canadians but it's just
  • 00:32:30
    not a good enough platform in my
  • 00:32:32
    experience and Rule 144 which I won't
  • 00:32:34
    get into um in a lot of depth here is a
  • 00:32:36
    rule that interactive brokers enforces
  • 00:32:38
    they're the only broker in the world
  • 00:32:40
    that I've ever heard of that enforced
  • 00:32:41
    this rule it's a major problem for
  • 00:32:43
    people who are trading small caps so
  • 00:32:45
    interactive brokers that's just not
  • 00:32:47
    going to work so if you're Canadian
  • 00:32:50
    ocean one's probably going to be your
  • 00:32:51
    best bet or Weeble Weeble charges $22.99
  • 00:32:56
    per trade it's not committ free in
  • 00:32:58
    Canada and it's still a little slower
  • 00:33:01
    but if you did 100,000 shares with
  • 00:33:03
    Weeble it's only $2.99 cents 100,000
  • 00:33:07
    share trade with ocean one with the
  • 00:33:08
    commissions is actually 200 bucks so
  • 00:33:12
    Weeble would be cheaper in Canada if
  • 00:33:14
    you're trading with bigger share size
  • 00:33:16
    okay so this is the ranking of the best
  • 00:33:17
    brokers for Canadians now the best
  • 00:33:19
    brokers for international Traders we're
  • 00:33:21
    going to split them between your small
  • 00:33:23
    account brokers in which case you've got
  • 00:33:25
    ocean 1 CME trade zero International and
  • 00:33:28
    Weeble these are small account Brokers
  • 00:33:30
    they don't enforce the PT rule if you're
  • 00:33:32
    not a US resident so Weeble doesn't
  • 00:33:35
    enforce the PTT rule in Canada it
  • 00:33:37
    doesn't enforce it in other
  • 00:33:38
    jurisdictions except in the United
  • 00:33:40
    States so this is for international
  • 00:33:42
    Traders so these are your top four and
  • 00:33:44
    they all score similarly it's really
  • 00:33:45
    going to come down to a question of
  • 00:33:47
    commission structure Weeble commissions
  • 00:33:49
    can be really good in some places and
  • 00:33:51
    can be really expensive in other places
  • 00:33:53
    so you got to check where you're located
  • 00:33:55
    at your branch trade zero International
  • 00:33:58
    it's the same CME ocean one ocean one
  • 00:34:01
    generally right now is the preferable
  • 00:34:02
    platform now International Traders with
  • 00:34:05
    large accounts cannot use any us broker
  • 00:34:08
    dealers that do payment for orderflow
  • 00:34:10
    you can't use thinker swim you can't use
  • 00:34:12
    trade station you can't use Robin Hood
  • 00:34:13
    not that you'd want to but you're not
  • 00:34:15
    allowed to so if you've got a larger
  • 00:34:17
    account light speeed trading is going to
  • 00:34:18
    be one of the fastest platforms and has
  • 00:34:21
    the best ux if you are a short seller
  • 00:34:23
    you may be interested in one of these
  • 00:34:25
    three and now let's go to the next
  • 00:34:26
    ranking which is the best platforms for
  • 00:34:28
    short sellers Guardian Centerpoint Cobra
  • 00:34:32
    trading these are the top these all
  • 00:34:34
    require minimum $25 $30,000 accounts so
  • 00:34:38
    they're more expensive to create the
  • 00:34:39
    account but they're great for short
  • 00:34:41
    sellers ocean one small account broker
  • 00:34:43
    also has great availability of shares to
  • 00:34:45
    borrow trade zero International and
  • 00:34:47
    trade zero USA $255,000 minimum account
  • 00:34:50
    size I'm actually going to change that
  • 00:34:51
    to Red
  • 00:34:53
    $25,000 so for a small account short
  • 00:34:55
    seller trade zero or ocean one will be
  • 00:34:58
    probably your preference for large
  • 00:35:00
    account short sellers Guardian
  • 00:35:01
    Centerpoint Cobra are going to be the
  • 00:35:03
    tops all of these are great for uh
  • 00:35:06
    International Traders and uh Centerpoint
  • 00:35:09
    accepts Canadians with Centerpoint uh
  • 00:35:11
    Canada so I could actually um I'll just
  • 00:35:14
    add another column right here and we'll
  • 00:35:16
    drop in the Centerpoint Canada because
  • 00:35:19
    Centerpoint Canada and Centerpoint USA
  • 00:35:21
    are um are the same the same company
  • 00:35:23
    they just have a um the two the two
  • 00:35:25
    sister branches so popular there
  • 00:35:28
    for Canadians uh there with Center Point
  • 00:35:31
    Canada and with that I have now given
  • 00:35:33
    you a comprehensive ranking of what I
  • 00:35:35
    think are the best brokers for day
  • 00:35:37
    trading across the board if we're going
  • 00:35:39
    to talk about who gets sort of the award
  • 00:35:42
    if on my master sheet right here it's
  • 00:35:44
    light speed trading with a score of nine
  • 00:35:46
    they are the highest scoring broker
  • 00:35:48
    dealer again I have no affiliate
  • 00:35:49
    relationship with them I just think
  • 00:35:51
    they're a great platform they're really
  • 00:35:52
    solid um and then the rest you can see
  • 00:35:55
    kind of as the ranking goes down uh
  • 00:35:56
    Interactive Broker will move that back
  • 00:35:58
    over into a spot there um and this is
  • 00:36:01
    how it all ranks out so if you are
  • 00:36:04
    interested in learning more about my
  • 00:36:05
    strategy make sure you check out my
  • 00:36:06
    small account PDF linked in the comments
  • 00:36:08
    down below and pin to the top pin to the
  • 00:36:10
    top comment and Linked In the
  • 00:36:11
    description if you're interested in
  • 00:36:13
    having me do a platform demo or broker
  • 00:36:15
    review of one of these platforms you
  • 00:36:17
    haven't seen leave that uh as a note for
  • 00:36:19
    me in the comments I have done Breakaway
  • 00:36:21
    episodes on almost all of these Brokers
  • 00:36:24
    so full length platform demos so if
  • 00:36:26
    you're interested in learning more about
  • 00:36:27
    one of those you could check out one of
  • 00:36:29
    those episodes that is an even deeper
  • 00:36:31
    dive and if you enjoyed today's ranking
  • 00:36:34
    I hope you hit the Thumbs Up And
  • 00:36:35
    subscribe the channel thank you as
  • 00:36:36
    always for tuning in I'll see you for
  • 00:36:38
    the next upload real soon
  • 00:36:39
    [Music]
Tags
  • day trading
  • brokers
  • execution speed
  • commissions
  • user experience
  • commission-free trading
  • payment for order flow
  • small accounts
  • international traders
  • trading platforms