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Jump straight to it: The best day trading charts are Benzinga and TradingView.
Understanding the significance of charts and the classic patterns that appear on them is paramount for success as a day trader. To use technical analysis in the most effective manner, traders need to go beyond just using indicators in day trading charts to get a picture of an asset’s price action.
Day trading charts offer technical traders valuable insights into historical price behavior. They help astute traders identify classic patterns, spot trends and make more informed trading decisions.
Day trading chart types include candlestick, bar, tick and point and figure charts. Each chart type provides unique cues that can guide a day trader toward greater profitability by helping them gain a competitive edge to navigate the markets more effectively and improve their trading results.
In this article, Benzinga explores the diverse universe of day trading charts and explains the mechanics of using common chart types and the classic patterns that form on them to get potentially profitable trading ideas.
Quick Look at the Best Day Trading Charts:
- Best for All Trading Levels: Benzinga
- Best for Comprehensive Charts: TradingView
- Best for Advanced Suite of Trading Tools: ChartPrime
- Best for Forex Investing: thinkorswim
- Best for Various Technical Tools: MetaTrader
- Best for Advanced Futures Trading: NinjaTrader
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6 Best Day Trading Charts
In the fast-paced world of day trading, the ability to anticipate market movements is one of the main keys to success. Incorporating day trading charts into your analytical toolkit will enhance your decision-making process and help improve your chances of thriving in the exciting realm of day trading. The following sections introduce some of the very best day trading chart providers that you can use when day trading.
1. Best for All Trading Levels: Benzinga
Benzinga is a prominent financial media and data provider that offers a range of tools and resources for day traders, including day trading charts. Benzinga provides an intuitive and user-friendly platform for accessing day trading charts. The site offers real-time charting capabilities, allowing day traders to track price movements and analyze various technical indicators.
Benzinga’s charts are highly customizable, enabling users to adjust timeframes, add indicators, draw trendlines and annotate the charts to suit their specific trading strategies. The platform offers a variety of chart types, including candlestick charts, line charts and bar charts to cater to different preferences.
Why We Picked It: Benzinga’s day trading charts provide a user-friendly and customizable platform for traders to analyze price movements and incorporate technical indicators into their day trading strategies.
2. Best for Comprehensive Charts: TradingView
TradingView is a powerful stock screener, charting platform and research powerhouse providing a massive range of tools investors can use to learn more about the markets. Some of TradingView’s most impressive features include its fully operational mobile app, wide range of screening criteria, custom script incorporation and much more.
In addition to charting and research tools, TradingView also offers a wide range of educational tools. View news feeds associated with each asset, read articles, view real-time market data and even watch livestreams with professional traders to improve your skills. Paper trading accounts are also available to help you master TradingView’s wide selection of tools.
Although TradingView’s content can be overwhelming for newer traders and investors, the platform remains among the most impressive research hubs on the internet.
- Professional investors
- Investors with programming experience
- Traders who need minute-by-minute updates
- Impressive selection of research tools
- Comprehensive stock screening
- Free accounts available
- Wide selection of engaging educational resources
- Customer service choices not all-inclusive
- Higher-tier plans out of some investors’ budgets
- Certain areas of the website poorly organized
TradingView is an online platform that provides comprehensive day trading charts and a wide range of tools for technical analysis. TradingView offers a robust and feature-rich platform for accessing day trading charts.
The platform provides real-time and historical price data for various financial instruments, including stocks, forex, cryptocurrencies and more. Traders can choose from a variety of chart types, including candlestick, bar and line charts. They can customize their charts with a wide range of indicators, drawing tools and other technical analysis features.
The TradingView platform allows for collaboration and social interaction, enabling users to share charts, ideas and insights with the trading community
Why We Picked It: TradingView provides a powerful and user-friendly platform for day traders to access comprehensive charts and perform technical analysis. The platform’s extensive range of tools, social community and cross-device accessibility contribute to its popularity among traders, and it offers a robust solution for day traders looking for advanced charting capabilities and collaboration within the trading community.
3. Best for Advanced Suite of Trading Tools: ChartPrime
In the dynamic world of financial markets, the tools in your trading toolkit can profoundly influence your trading journey and success, regardless of your trading experience, skills, technique or risk management strategy. ChartPrime’s state-of-the-art trading toolkit equips traders of all levels with the requisite resources and technology to enhance their trading strategies, analyze and predict the markets and make informed trading decisions, ultimately leading to improved trading performance.
With its cutting-edge trading suite, ChartPrime transforms complex technical analysis into actionable insights, empowering traders to identify trading opportunities and gain a competitive advantage in the market. Despite being a relatively young company, ChartPrime’s combination of algorithms and active community via its Discord servers and its training and educational resources fast-track learning and growth, making it a valuable tool for diverse traders.
ChartPrime offers a universal advantage, adaptable to diverse markets and tradable instruments. Whether you’re a forex dealer seeking forex indicators to support your trading strategies or a stock and crypto trader, ChartPrime is a versatile solution that suits all. Read on for a comprehensive review of ChartPrime’s trading suites, the pros, cons, core offerings and how it compares with competitors.
- Beginners and expert traders seeking robust indicators and effective technical analysis tools to support their trading strategies and turbocharge investment potential
- Forex traders, equity and cryptocurrency investors looking for advanced suites of trading toolsets for enhanced market insight and profit maximization
- Proprietary trading firms seeking sophisticated technical analysis toolkits to help improve the performance of their properties
- Traders or investors looking for an interactive and community-oriented trading equipment marketplace with excellent training and educational resources to fast-track learning and growth
- Those who prioritize technical over fundamental market analysis and so require access to premium indicators and other advanced toolkits with regular upgrades for optimal performance
- Advanced or cutting-edge premium trading suite, including multipurpose indicators and other tools
- Excellent training, educational and research resources via interactive weekly classes, tutorials and blogs
- Community-oriented Discord channel to facilitate collaboration and sharing of trading ideas, fast-tracking learning and growth
- Consistently and automatically updated with new features and tools, ensuring traders or investors have access to the latest technologies
- Access to daily trade signals and setups by the company’s team of professional analysts
- 7 days money-free trial
- Excellent and professional customer support
- Relatively costly and out of reach for undercapitalized traders
- An average trader may not easily understand how the algorithm works
- Works only with the TradingView platform
- Might not be suitable for all trading styles
ChartPrime is a cutting-edge suite of trading tools that helps guide your investments to perfection. You can analyze assets, review market trends, improve your portfolio and inform yourself about the markets rather than depending on someone else for every alert or storyline.
Each toolkit points to a different type of trader, and you can try as many of those toolkits as you like. Plus, you can create a TradingView account that connects you with the alerts and data you need.
Why We Picked It: ChartPrime combines algorithms and a Discord community so that you can see all the information you need. Stock traders, forex traders, crypto traders and more can all benefit from using ChartPrime, with its incredible indicators, charting and automatic updates, you can get started right away.
4. Best for Forex Investing: thinkorswim
This publicly listed discount broker, which is in existence for over four decades, is service-intensive, offering intuitive and powerful investment tools. Especially, with equity investing, a flat fee is charged, with the firm claiming that it charges no trade minimum, no data fees, and no platform fees. Though it is pricier than many other discount brokers, what tilts the scales in its favor is its well-rounded service offerings and the quality and value it offers its clients.
- Novice investors
- Retirement savers
- Day traders
- World-class trading platforms
- Detailed research reports and Education Center
- Assets ranging from stocks and ETFs to derivatives like futures and options
- Thinkorswim can be overwhelming to inexperienced traders
- Derivatives trading more costly than some competitors
- Expensive margin rates
Thinkorswim is a trading platform developed by TD Ameritrade (now owned by Charles Schwab) that provides robust day trading charts with a range of features. Thinkorswim offers an advanced charting interface with numerous tools for technical analysis.
The platform provides real-time and historical data for various financial instruments, including stocks, options, futures and forex. Traders can choose from a variety of chart types, including candlestick, bar and line.
The charts are highly customizable, allowing users to add indicators, draw trendlines and apply technical studies to analyze price action. Thinkorswim provides features such as multiple timeframes, chart pattern recognition and customizable watchlists to enhance the trading experience.
Why We Picked It: Thinkorswim offers advanced day trading charts with a wide range of technical analysis tools and customization options. The platform’s real-time data, paper trading feature and backtesting capabilities are particularly valuable for day traders. Thinkorswim provides a comprehensive solution for day traders seeking powerful charting capabilities and a wealth of technical analysis tools within a supportive trading community.
5. Best for Various Technical Tools: MetaTrader
Considered the gold standard among trading platforms, MetaTrader 4 is a free platform for trading forex and other financial instruments such as CFDs, futures, indices, commodities, and cryptocurrencies. MetaTrader4 is available for retail traders through specific brokers, which individually license the platform. According to its developer, MetaQuotes Software, the platform is available through over 750 brokers and banks and services millions of traders.
- Beginning traders looking to dip their toes into data
- Advanced traders who want a data-rich experience
- Ease of deployment
- Platform doesn’t overload the computer
- User-friendly design for beginner investors
- Compatible with several operating systems such as Linux, Mac and Windows as well as iOS and Android
- Cost effective VPS
- Comprehensive historical data for backtesting isn’t available
- Execution speed is not great and is unsuitable for high-frequency trading
- Its nascent web platform does not allow automated trading
- Charting package does not provide for a custom timeframe
MetaTrader is a widely-used trading platform that provides day trading charts and various features for technical analysis catering to day traders across different financial markets, most notably those operating in the retail forex market.
Both of MetaTrader’s active 4 and 5 versions offer a comprehensive charting package that provides real-time price data, historical charts and a variety of chart types including candlestick, bar and line charts.
Day traders can access an extensive library of technical indicators and drawing tools to conduct in-depth analysis and identify trading opportunities. MetaTrader allows for the customization of timeframes, chart layouts and color schemes to suit individual preferences and trading strategies.
Why We Picked It: MetaTrader provides a powerful charting platform with a wide array of technical analysis tools, customization options, backtesting and automated trading capabilities. Its forex focus and extensive user community make it particularly appealing to currency traders. MetaTrader is an especially strong choice among traders seeking advanced charting and analysis features.
6. Best for Advanced Futures Trading: NinjaTrader
NinjaTrader is a powerful derivatives trading platform specializing in futures, forex and options. The platform has a number of unique trading tools. A free version does exist without the extra goodies provided by Trader + and OrderFlow + but users can still break down charts, backtest strategies and trade without upfront payment. NinjaTrader hosts its own brokerage services but users have their choice of several different brokerage options. Accounts have minimums depending on the securities traded and commissions vary depending on the version of the platform. Advanced derivatives traders will have endless fun with the platform’s mighty array of tools and analyzers.
The free version, which is included with all brokerage accounts is a great starting platform for new traders without the financial commitment. As you grow in your trading and are ready for more tools and functionality, you can add more complexity.
- Futures Traders
- Traders looking for 24/7 action
- Advanced Traders
- Powerful analysis tools
- Free download and simulated trading
- Open source trading apps to enhance experience
- Can only trade derivatives like futures and options
NinjaTrader is a robust trading platform that offers comprehensive day trading charts and a range of features for technical analysis. The platform provides a powerful charting interface designed to cater to the needs of day traders.
The NinjaTrader platform offers real-time and historical data for various financial instruments, including stocks, futures and forex. Traders can choose from multiple chart types, such as candlestick, bar and line charts, in addition to gaining access to a wide range of technical indicators and drawing tools.
NinjaTrader’s charts are highly customizable, allowing users to create personalized chart layouts, apply multiple indicators and analyze price action with precision.
Why We Picked It: NinjaTrader provides a feature-rich trading platform with comprehensive day trading charts. Its advanced charting features, market replay, backtesting capabilities and order entry functionality will appeal to active day traders. NinjaTrader offers a robust solution for day traders seeking advanced charting and analysis features, customization options and the ability to develop and automate their own trading strategies.
The Best Day Trading Patterns
Day trading patterns play an important role in helping traders identify potential market opportunities and make informed trading decisions. Some of the best day trading chart patterns are shown in schematic diagram format in the image below and listed in the following sections along with details about their characteristics and how to trade them.
Schematic diagrams of some classic reversal and continuation chart patterns. Source: KingPrudien.
Bull Flag and Pennant Patterns
The bull flag and pennant patterns are continuation patterns that typically occur after a strong upward price movement. They consist of a flagpole that represents the initial surge in price and which is followed by a consolidation period where the price either forms a flag pattern between parallel trend lines or a triangular pennant pattern between converging trend lines. Traders often look for a breakout above the upper trendline of the flag or pennant as a potential buy entry point for a long trade since they would expect the upward trend to resume.
Bear Flag and Pennant Patterns
Bear flag and pennant patterns are continuation patterns that occur after a significant downward price movement. They both consist of a flagpole that arises from the initial decline and is followed by a period of consolidation where the price either forms a flag between parallel trend lines or a triangular pennant pattern between converging trend lines. Day traders can watch for a breakout below the lower trendline of the flag or pennant as a potential sell entry point for a short trade since this would signal the continuation of the downward trend.
Double and Triple Tops and Bottoms
Double and triple tops and double bottoms are reversal patterns that signal a potential trend change. A double top occurs when the price reaches a high point, retreats and then retests the same high without breaking above it, while a triple top has an extra peak at the same high point. Conversely, a double bottom occurs when the price reaches a low point, bounces back and then retests the same low without falling below it, with the triple bottom having another trough at the same low point. Traders often look for a breakout below support at the neckline in the case of a double or triple top or above resistance at the neckline in the case of a double or triple bottom to confirm the reversal and enter trades in the direction of the new trend.
Head and Shoulders Tops and Bottoms
The head and shoulders pattern is another reversal pattern. The head and shoulders top consists of three peaks, with the middle peak being higher than the other two. The pattern gets its name because it resembles a person’s head and two shoulders. Traders observe a breakout below support at the pattern’s neckline after the formation of the right shoulder to confirm the pattern. This breakout often signals a bearish reversal and prompts traders to enter short trades. The head and shoulder bottom looks like an upside-down head and shoulders top, and a break above the resistance level marked by its neckline is a bullish signal.
Channels
Channels are a common day trading pattern that occurs when a stock’s price moves within parallel trendlines over a defined period. Channels consist of an upper trendline that acts as resistance and a lower trendline that serves as support. Day traders can use channels to identify potential buying and selling opportunities. Buying near the lower trendline with a stop-loss order below it allows for potential gains if the price bounces back towards the upper trendline. Conversely, selling near the upper trendline with a stop-loss order above it allows for potential profits if the price retreats towards the lower trendline. Channels provide day traders with a useful framework for assessing price ranges, anticipating breakouts or breakdowns and setting risk management parameters for their trading strategies.
Rectangles
Rectangles are known as trading ranges or consolidation patterns, and they are a common day trading chart pattern characterized by horizontal price boundaries. Rectangles occur when the price of an asset trades within a relatively tight range to create parallel lines of support and resistance. Rectangles indicate a period of indecision in the market as buyers and sellers are evenly matched. Day traders often look for a breakout from the rectangle pattern, either to the upside or downside, since it signifies a potential trend continuation. Rectangles provide valuable information for day traders that allows them to identify areas of price consolidation and plan their entry and exit points accordingly.
Triangles
Triangles are a commonly-observed day trading pattern characterized by converging trendlines. They form when the price of a stock experiences a series of lower highs and higher lows that creates a triangle-like shape on the chart. Triangles can be either symmetrical, ascending or descending depending on the slope of the trendlines. These patterns suggest a period of consolidation and indicate that a potential breakout is imminent. Day traders often monitor triangle formations to identify entry and exit points. A breakout above the upper trendline signals a potential bullish move that could prompt day traders to initiate long positions, while a breakout below the lower trendline suggests a potential bearish move that could prompt day traders to consider short positions. By analyzing triangles, day traders can anticipate price volatility, set appropriate stop-loss levels and take advantage of potential trading opportunities.
Cup and Handle Patterns
The cup and handle pattern is a bullish continuation pattern that resembles a cup followed by a handle. The cup part of the pattern is formed by a gradual downward movement followed by a rounded bottom, while the handle portion forms during a small subsequent consolidation period. Traders look for a breakout above the handle as a potential entry point for long trades since they would expect the upward trend to continue.
Ascending and Descending Wedges
Wedges are a day trading pattern characterized by converging trendlines that slope in the same direction. An ascending wedge is typically bearish and forms when the price experiences a series of higher highs and higher lows, while a descending wedge is usually bullish and forms when the market shows a set of lower highs and lower lows. Wedges signify a period of consolidation and indicate a potential breakout in the near future. Day traders can closely monitor wedges to identify potential trade entry and exit points. A breakout above the upper trendline of an ascending wedge suggests a bullish move that can prompt traders to consider long positions, while a breakout below the lower trendline of a descending wedge suggests a bearish move, leading traders to consider short positions. Wedges provide day traders with insights into potential trend reversals and let them set appropriate stop-loss levels and capitalize on trading opportunities arising from the anticipated price move once a breakout occurs.
These classic chart patterns offer just a few examples of the best day trading patterns you can use. Remember that no chart pattern guarantees a successful trade, so proper risk management and confirming analysis should generally be used as well. By studying and understanding these useful day trading patterns, you can enhance your ability to identify potential trading opportunities and improve your overall trading performance.
How to Use Stock Charts to Mitigate Risk
When it comes to mitigating risk in trading, using stock charts effectively can provide valuable insights. Several helpful tips for traders on how to use stock charts to mitigate risk include the following:
Tip #1: Identify Support and Resistance Levels
Stock charts help day traders identify key support and resistance levels, which are price levels at which the stock tends to find support from buyers or resistance from selling pressure. These levels act as barriers that can influence future price movements. By analyzing stock charts, traders can identify key levels and adjust their risk management strategies accordingly. Setting stop-loss sell orders just below support levels or profit-taking sell targets just before resistance levels are reached can help limit potential losses and secure trading gains in a timely manner.
Tip #2: Use Technical Indicators
Stock charting platforms typically provide a wide range of technical indicators that can yield trading signals and offer day traders detailed insights into market trends, momentum, trading volume and volatility. Using technical indicators like moving averages, the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicator can help traders assess the strength of a stock’s price movement and the potential for a market reversal. By combining technical indicators with price analysis and the classic chart patterns mentioned in the previous section, day traders can make more informed decisions and mitigate their trading risk.
Tip# 3: Monitor Price Patterns
Classic chart patterns that form on price charts like triangles, flags or wedges can offer day traders clues about potential breakouts or reversals. By monitoring these patterns on stock charts, day traders can identify favorable entry or exit points and set appropriate stop-loss orders. Additionally, recognizing patterns like head and shoulders or double tops or bottoms can provide insights into potential trend reversals and help day traders adjust their risk management strategies accordingly.
Tip #4: Implement Timeframe Analysis
Stock charts offer various timeframe options, ranging from minutes to daily, weekly or monthly time intervals. Day traders will probably want to analyze stock charts across different timeframes to gain a comprehensive understanding of the stock’s price action. Shorter timeframes can provide insights into intraday price movements, while longer timeframes offer a broader perspective on trends. This multi-timeframe analysis helps day traders make more well-rounded decisions and effectively manage risk across different trading horizons.
Tip #5: Perform Volume Analysis to Confirm Pattern Breakouts
Volume is an important aspect of analyzing stock charts since it indicates the level of market participation in a particular stock. Analyzing volume patterns alongside stock price movements can offer valuable insights, especially when it comes to confirming breakouts. In general, significant price changes accompanied by high trading volume often indicate strong and reliable buying or selling pressure. Traders can use volume analysis to confirm the strength of a price move and confirm the probable validity of chart pattern breakouts or market trend reversals.
Tip #6: Use Stop-Loss Orders
Regardless of what form of chart analysis a trader uses, implementing stop-loss orders is a vital risk management practice for long-term success. Setting appropriate stop-loss levels based on chart patterns and support/resistance levels helps limit potential losses in case the trade does not go as planned. Stop-loss orders should be placed at levels that indicate a significant change in the stock’s price direction. This process lets day traders exit the losing position gracefully and preserve their capital for future trades that can make them money.
By incorporating these tips into your day trading strategy, you can harness the power of stock charts to make more money and mitigate your trading risk more effectively. Remember that risk management should always be a priority when trading stocks and performing a thorough analysis of stock charts can greatly assist you in making better-informed and more appropriate trading decisions.
Compare Day Trading Platforms
If you plan on getting involved in day trading, then having access to reliable and feature-rich charting platforms can be an essential tool. With numerous day trading chart providers available in the market, choosing the right one can be a daunting task. To assist you in this endeavor, Benzinga has compiled a comparison list of some of the leading day trading chart providers including its expert insights and reviews. By examining each charting platform’s key features, charting tools, data accuracy, user-friendliness and customization options, you can select the most suitable solution to meet your specific needs.
Apex Trader Funding stands out for its simplicity, flexibility and lucrative profit split — you get 100% of your first $25,000 profit per account and 90% after that. Moreover, you can receive two monthly payouts; there’s no total cap on the maximum payout. The platform’s streamlined one-step evaluation process offers real-time data for up to 20 simultaneous accounts, making risk management straightforward and hassle-free. You can trade mini or micro futures contracts from day one with no scaling restriction or daily drawdowns in the evaluation and funded accounts..
You can maintain your day-to-day trading strategy, even during news cycles. And you can trade on holidays. While the company’s commitment to providing traders with a dependable platform and supportive environment to excel in their trading career is without doubt, it’s strictly for futures trading recurring monthly fees might make it unappealing to some traders. Here’s a constructive breakdown of the Apex Trader Funding Program; the pros, cons, core product offerings and how it compares with other prop firms.
- Beginner future traders looking to gain experience, knowledge and access to trading resources
- Experienced traders seeking access to capital or funding to explore the future market and maximize profitability
- Active day traders seeking flexibility regarding trading strategies and the ability to spread risk across multiple accounts
- Futures day traders seeking prop firms with simplified risk management strategies and minimal trading complications
- Prop traders seeking consistent income streams and value prop firms with regular payouts
- Streamlined one-step evaluation
- Excellent profit split or payout
- Two payouts per month
- No total cap on the maximum payout
- Relaxed trading rules and allows holiday trading
- Solid reputation across the board
- Considerably cheaper than most other prop firms, they often offer deals, for $18 you can get $50k accounts (normally $37)
- No daily drawdown and scaling restrictions
- Simplified risk management strategies
- Available in over 100 countries
- No daily profit targets
- Trade on your schedule – no consecutive trading day rules
- You are allowed to copy trade up to 20 accounts
- Only supports future tradings
- Doesn’t support cross session trading
- You can’t flip the account over 20% and can’t trade news
FXIFY is a proprietary trading firm offering qualified traders and investors up to $400,000 in proprietary funds after passing a series of trading assessments. Traders can then scale their account up to $4 million with profit sharing splits as high as 90%. FXIFY offers two assessment program options to get funded, including a One-Phase and Two-Phase series. Each assessment has its own unique terms and conditions which gives traders more flexibility based on their trading needs. FXIFY prop accounts are available on MT4 and MT5, the most popular trading platforms in the market, via their exclusive partnership with FXPIG, a multi-asset retail brokerage established in 2010.
Traders using FXIFY can take advantage of commission free trading across a wide selection of products including Forex, Stock Indices, Precious Metals including Gold and Silver, and more. Traders also can take advantage of tight spreads, including no trading restrictions, with customizable leverage. FXIFY also allows traders using automated strategies and Expert Advisors (EAs) to trade at their prop firm, as long as they are unique strategies developed by the client.
- Experienced traders looking for prop funding access with an established broker
- Traders using Expert Advisors (EAs) and automated strategies
- Traders who trade using MT4 or MT5
- Traders who prefer no commission trading
- Instant payouts on demand
- No consistency rules or trading restrictions
- Unlimited trading days
- Expert Advisors (EAs) allowed
- Backed by FXPIG, a multi-asset broker established in 2010.
- 125% refund of assessment fee upon requesting first payout
- Access to MT4 and MT5
- Minimum assessment fee of $175, which might be high for newer traders
Most retail traders fail to become profitable for three reasons — suffering a lack of capital, risking their own money and trading without risk-prevention mechanisms.
That’s why stock traders prefer Trade The Pool.
TTP was founded in 2022 by Five Percent Online Ltd, the operators of The5ers — a time-tested, highly reputed and well-respected prop trading firm established in 2016.
Trade The Pool offers a unique funding solution for all types of stock traders, and a partner of some of the most leading companies in the industry.
- Day traders
- Swing traders
- Professional or expert traders
- Traders dealing in stocks and contracts for difference (CFDs)
- Inexperienced traders
- Unlimited buying power
- 14-day free trial
- More the 12,000 stocks and ETFs to trade
- Incredible program features like start over button and redemption fees
- Exquisite and insightful trading dashboard
- Excellent content and educational resources
- Withdraw profits and scale up your funded account at the same time
- Free subscription for Trade Ideas or TrendSpider or Bookmap
- Get a free month with TraderSync
- Great opportunity to grow or hone your trading skills
- Unlimited buying power can create over-leveraging
- Primarily stocks and CFDs
Forex trading can be challenging; most retail traders suffer losses from inexperience, inadequate skills or insufficient funding. Proprietary trading firms can provide you with the capital, training and tools needed to excel in the market and boost profitability. However, not all prop firms are committed to your long-term trading success and growth.
Despite being relatively new, Top One Trader has emerged as one of the leading prop firms and a favorite for most talented forex retail traders due to its flexible trading conditions. You can choose either the 1 or 2-step funding challenge to unlock up to $200,000 worth of funding or up to $5 million via scaling. Unlike most prop firms, the evaluation rules are simple and realistic, meaning you are very likely to get funded. There are no minimum or maximum trading days, and the platform supports weekend and news trading and expert advisors (EA).
With tools like the Economic Calendar, you can track economic events and indicators that impact the financial markets, enabling you to make a more informed trading decision. Furthermore, Top One Trader offers a generous profit payout of up to 90% along with bi-weekly payouts, including a 100% refund of your challenge fee at the first payout. Top One Trader’s commitment to transparency and straightforward trading practices is complemented by its exceptional customer support, solidifying its position as an ideal platform to build your trading career. Read on for a comprehensive review of this prop firm and how it might help you access requisite capital and tools for trading.
- Seasoned but undercapitalized forex retail traders seeking optimum funding access to turbocharge their trading career and maximize profitability via excellent risk management strategies
- Beginner traders seeking a conducive and risk-free environment to develop their trading expertise and techniques and potentially access capital to advance such strategy while maximizing profits
- Prop traders seeking a proprietary firm with straightforward evaluation rules, flexible trading conditions, competitive payout and commitment to their long-term growth and success in the financial markets
- Forex, indices and crypto traders, especially those seeking platforms with zero-spreads, low commissions and funding access to optimize returns over time
- Those seeking an accessible and interactive trading community to network, communicate, share and regularly exchange ideas with other traders and potentially gain valuable trading skills with time
- Fast and seamless bi-weekly payouts
- 100% refundable challenge fees at the first payout
- Fast funding access of up to $200,000 ($5 million via scaling)
- Competitive leverage of up to 50:1 for forex trading
- Multiple tradable instruments or assets — forex, indices, commodities and cryptocurrencies
- Supports weekend and news trading as well as uses of EA
- Responsive and highly efficient customer support
- Excellent suites of MetaTrader trading platforms — MT4/MT5
- Multiple-account sizes are available
- Fully regulated and award-winning broker for trading
- Doesn’t support copy trading from multiple accounts not owned by you
- Does not allow for HFT (high frequency trading), arbitrage, or martingale strategies.
The 5ers is a proprietary trading firm that offers an affordable and accessible option to access funding for trading forex, metal and indices. Traders may pay as little as $95 to open a demo account, and instant trading access is available. While you’ll already need to have a developed trading strategy in place to get the most out of The5ers, those confident in their skills will find an option to show what they know without paying an ongoing subscription fee. Be sure to note trade restrictions before paying the participation fee — doing so will allow you to work profitably within the bounds of The5ers restrictions.
- Experienced and beginner forex, indices and metal traders
- Traders with knowledge of the forex market but limited capital to invest
- Those experienced in MetaTrader 5 forex trading
- Scalpers and swing traders
- Traders willing to improve their trading performance
- One-time fee avoids the need to pay ongoing subscription costs
- Offers traders access to capital trading funds without a thousand-dollar deposit
- Large range of exclusive resources
- A program as a solution for every trader style and objectives
- Salary offer on high-stakes program
- Low-entry cost on Bootcamp program
- Fastest scaling plan on all programs
- No access to stock or ETF markets
Frequently Asked Questions
What chart is the best for day trading?
The best chart for day trading can depend on individual preferences and trading strategies, but many day traders rely on candlestick charts for their versatility and effectiveness. Candlestick charts provide a comprehensive view of price action, including the open, high, low and closing prices all presented in a visually intuitive manner. They have a useful range of patterns and indicators that help identify trends, reversals and potential entry and exit points.
Can you make money by day trading?
Yes, day trading has the potential to be profitable, but it has inherent challenges. Day trading in the financial markets is a speculative activity that involves taking risks without a guarantee of success. Day trading profitably typically requires a combination of skills, knowledge, discipline and the ability to manage risk and your trading capital effectively as you trade strategically and follow a well-thought-out trading plan.
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