Brokerage for day trader
I just finished watching "Wall street warrior". There was one episode talking about prop trading and the other one about day trading. I got full of questions when watching those episodes.
What brokerage does a day trader usually use? What brokerage provide trading service for penny stocks?
Most popular brokers are Interactive Brokers and Light Speed Trader due to cheap costs and these are the most pop ones that day traders use...
I personally reviewed nearly every broker out there. Nothing comes close to TD Ameritrade's trading platform, nothing! But the costs are pretty high, usually about 10 per trade.
I use OptionsHouse since it's hella cheap, 3.95 per trade but their trading platform is horrible. But I have high respects for their customer service as they are top notch and hella friendly and extremely patient.
So what I do is use TD's platform for live news and realtime quote streaming and use optionshouse as my broker.
Please don't talk about penny stocks, they are cheap for a reason.
I personally would stick with OptionsHouse, or TradeKing for the low fund requirements and low trade fees.