Day trading, with its fast-paced nature and potential for substantial profits, has become an intriguing venture for many Europeans seeking to capitalise on short-term market fluctuations. However, the success of day trading relies not only on a trader’s knowledge and strategies but also on choosing the right broker.
In this hands-on guide, we will go over the best day trading platforms in Europe. Traders need to consider various factors, such as fees, trading features, research resources, and customer support, to ensure they have the necessary tools and support to make informed decisions and successfully navigate the intricate world of day trading.
Before moving on to our list, please remember that day trading is a high-risk, high-reward investment strategy involving buying and selling assets on the same trading day. It can be a great way to make money quickly, but it’s important to remember that there is also a high risk of losing money.
Best European Day Trading Platforms
Best Day Trading Platforms in Europe Reviewed
#1 Interactive Brokers - Trader Workstation
Interactive Brokers at a glance
Trader Workstation (TWS), the proprietary trading platform of Interactive Brokers, is one of the most innovative trading platforms developed by a brokerage firm. It includes two subsets: the “TWS Mosaic”, which displays a fully customisable workspace, and the “Classic TWS”, where you can find more complex/advanced tools for more experienced traders.
You get comprehensive order management, technical charts, watchlists, and other portfolio tools in a single view. You can organise your trading activity by asset classes and, at the same time, keep up to date with relevant market news impacting the markets. TWS offers powerful trading tools like ComboTrader, which helps traders create proprietary combination order strategies or choose from multiple templates with predefined programs to execute day trades.
Interactive Brokers also offers a web-based alternative called “Client Portal”, a “light” version of TWS, which lets you keep track of your portfolio performance and other essential features with few constraints. The same goes for its mobile app, which enables you to check every piece of information on the go.
We opened an account and extensively tested TWS along with the mobile app. For traders looking for advanced charting tools and depth of market information, such as conference call transcripts, news, financial instrument info etc, Trader Workstation is truly indispensable. At the same time, the mobile app came in handy when we had to close a position on the go after a surprising market move. Likewise, the mobile app is excellent when you have idle cash on hand and see a good opportunity during a market pullback. We did have trouble finding specific options contracts on the mobile app, for example – thus, for niche financial instruments in which you have not traded recently and do not have an open position, you need the desktop version to get your work done in a timely manner.
76% of retail CFD accounts lose money.
eToro at a glance
eToro offers one of the most intuitive and easy to learn trading platforms for day traders in Europe. The broker’s most distinctive feature is social trading, allowing you to copy the portfolios of successful traders or develop a community around your trading account.
The TipRanks research tab aggregates the cumulative knowledge of investors and experts from some of the world’s leading financial institutions, allowing you to get a quick idea of whether the stock you are trading is a buy, hold, or sell according to analyst consensus.
For traders looking for speed of execution, the platform offers One-click trading, allowing you to open a new position using ready-made parameters with a single click.
eToro is renowned for its user-friendly interface and excellent visualisation. ProCharts is a professional-grade technical analysis tool that compares charts from different financial instruments and/or time frames. Last but not least, the Economic calendar available to traders is one of the platform’s most useful features, allowing you to keep track of earnings reports, dividend payments, economic data releases, and more!
We opened an account and went through the app’s features with ease. Setting up trades is really intuitive, and exploring the stock-specific pages you are interested in is a real joy, bringing you tons of easy to read information. At the same time, the lack of more advanced instrument information may leave some traders disappointed. But for 99% of traders, especially beginners, eToro is an ideal trading platform to get started in the world of day trading!
62% of retail CFD accounts lose money.
SaxoTraderGo at a glance
Features three platforms for trading: SaxoInvestor, SaxoTraderGO, and SaxoTraderPRO. Assuming that most people visiting this page have average knowledge of financial markets, we will focus on the middle one: SaxoTraderGO, which, by the way, is the most popular consumer-facing trading platform of the broker.
SaxoTraderGO is an award-winning web-based platform with crucial features: fundamental and technical analysis tools, an extensive charting package, performance analysis, a comprehensive account overview, and a user-friendly interface.
News and expert research are available through the proprietary SaxoStrats feature, with in-house analysts weighing in on the latest market trends. The Depth Trader feature lets you see all the buy and sell orders waiting to be executed so that you can manage your trades more effectively.
Powerful risk management tools available to European day traders include the Account shield feature, which, if activated, can act as a stop loss on your entire account, closing all open positions and cancelling all orders. Sometimes, it is better to finish trading for the day at a small loss, allowing you to come back to the markets the next day!
Saxo Markets provides 24-hour support and educational resources for all types of traders. VIP traders can receive priority support and exclusive invitations to events.
#4 XTB xStation 5
77% of retail CFD account lose money.
XTB xStation 5 at a glance
XTB offers Forex and CFD trading in some 6,000 instruments through its flagship xStation 5 platform. The trading interface has many distinctive features, including market sentiment, which pools the trading bias among all XTB clients on specific instruments, allowing you to get a quick feel on trader consensus.
European day traders can access comprehensive charting tools that incorporate risk management, allowing you to place take profit or stop loss levels directly on the charts you have just created!
The platform also incorporates news from in-house analysts and an economic calendar to keep track of all key financial developments.
#5 Fusion Markets cTrader
74-89% of retail CFD accounts lose money.
Fusion Markets cTrader at a glance
Fusion Markets specialises in forex and CFD trading through its proprietary cTrader platform, but also offers the classic MetaTrader 5 for experienced traders.
cTrader prides itself in niche features such as market depth, featuring standard market depth, price depth, as well as volume-weighted average price (VWAP) depth. The charting package is equally comprehensive, offering 26 different timeframes and over 70 inbuilt indicators to give you a more full-bodied overview of the market.
Once you are familiar with the platform, QuickTrade Mode allows you to pre-set your order type settings and risk management levels. Once done, you can execute trades with a single click!
For European day traders looking to complement their routine with algorithmic trading, cAlgo allows you to create powerful automated strategies and install your own trading bots.
#6 Trading 212
Investing involves risk of loss.
Trading 212 at a glance
Trading 212 specialises in forex and CFD trading (Trading 212 CFD) but also offers regular stocks and ETFs (Trading 212 Invest). In total, you can access over 10,000 stocks and ETFs.
The broker has a detailed learning section on its website, available here. Novice traders can explore all the basic concepts of moving financial markets and get a quick start in investing.
A unique feature of Trading 212 available to European day traders is trading fractional shares during extended market hours. This gives you an extra nine and a half hours of trading time compared to other brokers.
Trading 212 is also unique in its exclusive sign-up bonuses, which you can access here.
The Bottom Line
To sum it up, here’s a brief overview of our findings:
Best Day Trading Platforms in Europe
With our comparison complete, here is what you need to do to get started on day trading in Europe:
- Find a suitable broker. Make sure the broker works with residents of your country. Consider the fees and market access of the broker if you are interested in trading niche markets.
- Open an account and deposit money: After deciding which broker’s trading platform to use, you must go through the account opening process and deposit money.
- You can now day trade in Europe: Having considered the pros and cons of each broker and after going through the account opening process, you can take advantage of the endless possibilities offered by day trading!
We hope that this post addressed some of your concerns. Do your research to find the best investing strategy for you!