A day trading app you to buy and sell stocks, securities, and currencies, usually within a single business day. While this type of trading can be lucrative if you have the right strategy and trade at the right time, it’s risky and requires a commitment to monitor market data closely.

In addition to commissions, you must also consider taxes and other fees. Short-term trading doesn’t qualify for preferential tax treatment, and your profits will be subject to ordinary income tax rates, which can add up quickly if you make many trades. Plus, you’ll need fast internet to execute trades quickly and to access the tools that can help you achieve success in day trading.

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The best day trading apps provide a range of features that suit all levels of traders. Some are designed to work with your existing portfolio, while others are a standalone option that can help you build your strategy. Some offer low-cost or even free trading, which can make a big difference if you’re making frequent purchases. And if you’re new to investing, some are more user-friendly than others, which can reduce your learning curve and help you avoid mistakes that can be costly.

TD Ameritrade’s Thinkorswim, for example, offers a robust platform geared toward traders who want to invest in various markets like stocks, options, and forex. The platform is a popular choice for beginner and advanced investors, but it can be difficult to know whether it’s right for you.