best platform for day trading

MarcoM

Hi what is the best platform in terms of fees for frequent trading of individual shares?
many thanks

wmb194

MarcoM said:

Hi what is the best platform in terms of fees for frequent trading of individual shares?
many thanks

Something like Trading212 or Freetrade probably. Trading212's FX fee is only 0.15%.

Mark_d

I'm quite tempted by freetrade but unfortunately they don't trade all the shares I want to.  So I use AJ Bell

wmb194

Mark_d said:

I'm quite tempted by freetrade but unfortunately they don't trade all the shares I want to.  So I use AJ Bell

Which shares is it lacking? It had been missing some UK small caps but I notice it recently added more, including one of the investment trusts I like. Trading212 has quite a wide range.

sevenhills

If you are making 50%+ in profit, surely the cost is not relevant, you want the one that is easiest to use?

Perhaps one that gives the tax relief the quickest?

Mark_d

wmb194 said:

Mark_d said:

I'm quite tempted by freetrade but unfortunately they don't trade all the shares I want to.  So I use AJ Bell

Which shares is it lacking? It had been missing some UK small caps but I notice it recently added more, including one of the investment trusts I like. Trading212 has quite a wide range.

Beximco and J Smart & Co

silvercue

I have used eToro for some time now, since 2019.   I am certain it is not the best in terms of history or products.  I know there are many products that they do not support, but for ease of use it is very simple.

In terms of fees they advertise as commission free.  They will make a little on the spreads, but that seems a bit better now. 

If you are day trading then overnight fees will not be an issue, but if you are buying leveraged CFDs and not selling at end of day you may be liable for overnight and weekend fees.  They are clearly stated when you open a position and when you look at it after opening.

wmb194

sevenhills said:

If you are making 50%+ in profit, surely the cost is not relevant, you want the one that is easiest to use?

Perhaps one that gives the tax relief the quickest?

Tax relief? You're referring to a Sipp? All costs are relevant and why assume 50%+ profits?

wmb194

Mark_d said:

wmb194 said:

Mark_d said:

I'm quite tempted by freetrade but unfortunately they don't trade all the shares I want to.  So I use AJ Bell

Which shares is it lacking? It had been missing some UK small caps but I notice it recently added more, including one of the investment trusts I like. Trading212 has quite a wide range.

Beximco and J Smart & Co

No, there're still not on Freetrade. I see LSE:SMJ is on Trading212 but the problem with minnows like that one on T212 is that 1. trades can take a while to execute and 2. with wide bid/offer spreads you don't know what price you'll get. So, yes, probably better with AJ Bell. Helps that AJB is soon to reduce its commission to £5 per trade.

Hoenir

No trades in SMJ today so far. Wide spread as illiquid stock. Able to obtain a price though. 

wmb194

Hoenir said:

No trades in SMJ today so far. Wide spread as illiquid stock. Able to obtain a price though. 

Only has a market cap of £50m.