FxBrokerReviews.org – Swing trading is a style of trading that guarantees superior capital management and greater returns. However, picking the best swing trading brokers is just one of many variables that go into successful swing trading. Choosing the best broker is a challenging task as well.
Therefore, fxbrokerreviews.org researched many firms to aid you in selecting one of the top swing trading brokers. Here are the 12 winners based on our in-depth analysis, comparisons, and data.
Also read: Swing Trading: Definition, Examples, & Strategy
1. Interactive Brokers
One of the top online brokers, Interactive Brokers, will significantly assist you in your swing trading performance. The broker’s availability of the Trader Workstation platform is crucial. It is one of the best and most advanced online trading platforms. Furthermore, Interactive Brokers provides various incredible tools that make swing trading easy but profitable. The trading platform is accessible on desktops, websites, and mobile devices. As a result, you have the choice to trade using the desktop site or the phone app when on the go. Furthermore, Interactive Brokers is the company for you if you wish to benefit from more than 100 order types and sophisticated algorithm trading.
Primary Characteristics
- The Trader Workstation’s advanced yet free trading tools assist you in spotting lucrative market chances. Additionally, you can assess trading results and come to wise trading judgments.
- The broker also guarantees thorough reporting. As a result, you can efficiently perform portfolio analysis, management fees analysis, and more.
- Other tools that make trading easy, seamless, and pleasurable include backtesting, paper trading, IB Risk Navigator, complex order and algorithm tools, simple orders, and much more.
- Interactive Brokers also allow you to profit from changes in the world market. So, in 80+ market centers, you can trade on shares and ETFs of corporations from 33 countries and 23 currencies.
- In addition, the broker just released IMPACT, a brand-new mobile application. The software represents the current situation and is quite helpful for swing trading.
Best For
For robust and adaptable trading platforms, thorough reporting, affordable commissions, and leverage accounts, Interactive Brokers is the finest.
Pros
- Applies to both local and international stocks, options, and futures.
- Trading fractional shares.
- Effective trading and research capabilities.
- Effective order fulfilment.
- IBKR Lite comes with no commission.
Cons
- The website is difficult to use.
2. TradeStation
Another significant company in the sector that bravely makes daunting trading selections is TradeStation. Because swing traders can benefit significantly from the broker’s elite trading platforms and robust tools. For making confident trading selections, they offer the necessary power and efficiency. TradeStation provides a well-regarded TradeStation Platform trading platform. Using the forum, you may create, test, improve, maintain, and automate your trading systems. The broker also provides several other services, which elevates it to the top of the market for swing trading brokers.
Primary Characteristics
- TradeStation provides web-based, desktop, and mobile platforms that let you conduct trading the way you choose.
- The platform uses robust order execution technology to guarantee awe-inspiring dependability and speed regarding order execution.
- The program also gives you access to a sizable history database if you require the insight to make wise swing trading judgments.
- You may purchase and sell shares in thousands of companies, including well-known tech firms like Google, Amazon, Apple, Facebook, and Netflix, in addition to platforms.
Best For
The most excellent stock trading platform is TradeStation, which offers cheap margin rates, various trading platform options, and outstanding order execution.
Pros
- A group of trading platforms.
- Effective tools.
- Simple user interface.
- Reasonable margin rates.
- Extensive investigation.
- A vibrant trading community.
Cons
- Increased account minimums.
3. Robinhood
One of the online stock brokers with radical customer centricity and a priority on quality care is Robinhood. The trading platform provides a top-notch smartphone app. Robinhood also offers great instructional content. In addition, Robinhood Snacks keeps you informed on what’s happening in the financial industry. Robinhood offers several fantastic features that have drawn millions of swing traders worldwide.
Primary Characteristics
- The platform provides a unique mobile trading app and top-notch trading resources. You may set up personalized news and alerts, monitor your portfolio, and learn about the financial markets.
- In addition, the broker provides access to initial public offers (IPOs) and enables you to participate as early as possible in freshly listed firms.
- Through Robinhood, you may invest in the stock market in any quantity you choose and easily purchase fractional shares.
Best For
Robinhood provides the best IPOs, minority share trading, and excellent customer assistance.
Pros
- Allows for the purchase of fractional shares and IPOs.
- Powerful yet user-friendly mobile application.
- Cash management functionality.
Cons
- Poor cutting-edge trading tools.
- Only suitable for beginners.
4. Charles Schwab
You can advance your swing trading by using one of the best swing trading brokers, such as Charles Schwab. First, the platform offers you a fantastic chance to swing trade in any way you want on the platform of your choice. Second, StreetSmart Edge and Schwab.com are feature-rich trading platforms with easy-to-use interfaces. Charles Schwab offers research and analytical tools advantageous to swing traders of all skill levels. The broker also enables you to access the major features listed below.
Primary Characteristics
- You can perform technical analysis and locate the best stocks for trading with sophisticated stock research and vital trading tools.
- Your stock search is smooth, thanks to sophisticated screeners and Schwab Stock Lists. These cutting-edge tools can create unique search parameters, compare various stocks, and identify fresh ideas.
- Charles Schwab offers Equity Ratings to assist you in assessing more than 3000 US stocks.
- Market Edge, Morningstar, Credit Suisse, and Briefing.com research and commentary from other sources also aid in your evaluation of financial instruments.
- Trading stocks, ETFs, and options is simple using the All-in-One Trade Ticket tool. Additionally, the Gain/Loss Analyzer aids in the analysis of your swing trading results.
- Charles Schwab is among the finest swing trading brokers thanks to its mobile trading platforms, real-time streaming quotations, sophisticated charting tools, first-rate customer care team, and many other features.
Best For
The most delicate things about Charles Schwab are its robust trading platforms, easy-to-use tools, and wide range of US stock trading options.
Pros
- Makes all US stocks available for trade.
- Commission-free stock trading online.
- Strong platforms and trading instruments.
- An adaptable mobile application.
Cons
- Offers a select number of foreign stocks.
- Slightly high costs for futures contracts.
- Is incompatible with credit/debit cards.
5. AvaTrade
One of the best swing trading brokers is AvaTrade. Three trading platforms are available from the broker: MetaTrader 4, MetaTrader 5, and WebTrader. Platforms for automatic trading are another option. Using algorithmic trading systems, you can avoid the challenges of manual trading. AvaTrade’s trading platforms have advanced functions and an intuitive user interface. Additionally, the broker offers you access to the most well-liked financial products available worldwide, including equities, commodities, Forex pairings, and cryptocurrency CFDs. AvaTrade additionally provides outstanding features that should not be disregarded.
Primary Characteristics
- MT4 and MT5 are two of the most widely used trading systems worldwide. They provide processing skills that advance swing trading.
- Trading on platforms is made simple by the abundance of interactive charts, built-in indicators, many timeframes, and other outstanding tools.
- You can use any device, such as a PC, an Android device, or an iOS device, to connect trading platforms.
- The WebTrader platform from AvaTrade is another excellent swing trading tool, particularly for new traders. It offers all of the essential features straight from your internet browser.
- You can also access the AvaTrade community through the AvaSocial platform if you wish to mimic the trades of the most experienced traders.
- In addition, AvaTrade provides the top multilingual customer service, which helps you handle your problems with the utmost kindness and respect.
- AvaTrade makes significant financial investments to give its customers the best training materials. You can learn a lot through the site itself, ebooks, and video tutorials.
Best For
The best trading platforms, cutting-edge tools, social trading platforms, and commission-free stock trading are all provided by AvaTrade.
Pros
- Numerous reliable trading sites.
- Free online research tools are among the novel features.
- Rapid and easy account opening.
- Free withdrawals and deposits.
- Low transaction costs.
- Superior customer care services.
- A swing trading broker with strict regulations.
Cons
- Exorbitant non-trade fees.
Also read: AvaTrade Broker Review 2022
6. Merrill Edge
Merrill Edge is a distinctive swing trading broker because of its integration with Bank of America. The outstanding broker provides swing traders with a very customizable trading environment. Merrill Edge Market Pro enables you to personalize the dashboard and conduct your preferred method of market analysis. Additionally, the platform is regularly updated to match traders’ trading needs. Merrill Edge’s Idea Builder is a unique function that displays stocks organized by themes and concepts. As a result, you can search for supplies for swing trading in a new manner. Merrill Edge is an excellent broker due to its abundance of practical tools.
Primary Characteristics
- Merrill Edge Market Pro enables you to save up to 25 layouts conveniently. You have access to 26 modification windows on the extremely adjustable platform.
- In addition, the broker provides access to some special charting tools, including 104 technical indicators, 25 sketching tools, screeners, and strategy builders.
- In addition, Dynamic Insights offers essential updates and details about your stocks up front. As a result, you can decide when to swing a trade.
Best For
Merrill Edge excels thanks to its robust trading platform and integration with Bank of America.
Pros
- Compatibility with Bank of America.
- An intuitive but user-friendly framework.
- Extremely flexible platform.
- Effective client service.
- Commission-free trading of stocks and ETFs.
Cons
- Only domestic stock offerings are permitted.
- Absence of sophisticated trading features.
- Is incompatible with credit/debit cards.
7. Pepperstone
Another elite swing trading broker that provides prestigious trading platforms is Pepperstone. The three trading platforms available to users are MetaTrader 5, MetaTrader 4, and cTrader. Additionally, you can use the same account to trade on all three sites. Pepperstone also enables you to follow and duplicate the trades of other profitable traders on a community trading platform. Pepperstone is a beautiful platform that boasts a 99.99% fill rate and is quick and dependable.
Primary Characteristics
- Pepperstone is a unique platform since it offers several trading platforms, including MetaTrader 5, MetaTrader 4, cTrader, and Social trading.
- Pepperstone is a secure, quick, and dependable platform where you may close deals without desk interference.
- A demo account also allows you to determine whether swing trading is a good fit for you. Without putting a single cent of your wealth at risk, you can learn and experience new things.
- Traders can also fully benefit from the instructional materials offered on Pepperstone’s website. Take advantage of this chance to educate yourself about swing trading’s fundamentals.
- Customer service is available on weekdays and for 18 hours on weekends.
Best For
The best features of Pepperstone are its three different trading platforms, lack of account minimums, tight spreads, and affordable rates.
Pros
- The MT5, MT4, and cTrader trading platforms are three different ones.
- Trading online.
- Simple user interface.
- A lot of instructive material.
- A demo account option.
- No minimum balance requirements.
- Mobile programs for iOS and Android.
- Negative balance protection for clients in the UK and Europe.
- First-rate client service.
Cons
- A relatively small selection of trading instruments is accessible.
- The only UK and European clients are eligible for negative balance protection.
Also read: Pepperstone Broker Review 2022
8. Fidelity Investments
Another top swing trading broker that gives you access to various alluring features is Fidelity Investments. Everything is at your disposal, from wealth management to retirement requirements, powerful trading tools to open pricing. Active Trader Pro, one of the best trading platforms for swing trading, is made available to you through Fidelity Investments. Additionally, the top-tier research and analysis tools available on the market are more than adequate for a flawless trading experience. Additionally, a financial expert is on call around the clock if you require any client service. Fidelity Investments ranks among the finest swing stock brokers because of its outstanding features.
Primary Characteristics
- Swing trading is easier when you use Active Trader Pro and other powerful trading tools, which also provide you an advantage over the market.
- Useful tools and calculators can help you plan, assess, and keep tabs on your finances.
- In addition, Fidelity Investments’ Planning and Guidance Center helps you create and track the progress towards your swing trading goals.
- You can make wise trading selections thanks to analysis and research on investments from the top firms in the industry.
- Fidelity Viewpoints publishes articles on the most recent market developments and industry commentary. Additionally, it helps you decide on trades with knowledge.
Best For
The Active Trader Pro platform’s exceptional capabilities, like wealth management, leading-edge research, and commission-free stock trading, set Fidelity Investments apart from the competition.
Pros
- A robust trading platform that includes some excellent tools.
- Access to the newest studies and research.
- Trading stocks without commission.
- Covers stock markets in 25 nations in addition to the US.
Cons
- Large margin charges.
- Credit/debit cards cannot be used.
- A challenging to use website.
Also read: Can Forex Trading Make You Rich? Here Is All That You Need To Know And More!
FAQs
1. Does swing trading make sense?
Yes, swing trading makes for effective use of cash and provides more significant profits. But it also has some disadvantages, such as more important commissions.
2. Describe the swing trading broker.
A platform that enables swing traders to purchase and sell financial products is a swing trading broker. For their services, swing brokers typically charge a commission. Nevertheless, how brokers are compensated differs significantly from one another.
3. What to consider while selecting a broker for swing trading?
A top swing trading broker provides the following vital traits.
- Regulatory Conformity.
- Strong trading environment with several robust tools.
- A complete line of trading goods.
- Quick and simple account opening.
- Practical funding options.
- Competitive pricing.
- Effective client service.
