Therefore, the whole point of paper trading is to give traders the ability to buy or sell assets without actual money. Before any money can be made in any financial market, you have to deposit with a broker. As opposed to the old days when paper trading had to be recorded on a piece of paper, there are tons of paper trading apps now. A few of them are Etoro, Meta Trader, Trading View, Trade Inceptor, Thinkorswin, etc. Paper trading has always been an extremely valuable tool to all traders since the 90s.

Also, with the advancements in simulators, traders can use historical data to paper trade instead of waiting for markets to develop. Besides, currency pairs can be backtested with this data to understand their behaviours.

Additional menu. They paper trading apps give traders a lifeline before diving while learning the craft. Table Of Contents. What is Paper Trading? Merits of Paper Trading 1. Etoro 2. Meta Trader 3.

Trading View 4. Trade Inceptor 5. Thinkorswin Summary; Best Paper Trading App For Traders. We also evaluate the overall design of the mobile experience, and look for a fluid user experience moving between mobile and desktop platforms. Ultimately, our rigorous data validation process yields an error rate of less than. Click here to learn more about how we test. There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.

Steven Hatzakis is the Global Director of Research for ForexBrokers. Steven previously served as an Editor for Finance Magnates, where he authored over 1, published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.

as a Commodity Trading Advisor CTA. Blain Reinkensmeyer has 20 years of trading experience with over 2, trades placed during that time. He heads research for all U. com and is respected by executives as the leading expert covering the online broker industry. John Bringans is the Senior Editor of ForexBrokers. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets.

Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years.

An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content. com is committed to the highest ethical standards and reviews services independently. Learn How We Make Money. Home Forex Guides Directory.

November 10, Pros Flagship platform is top of the line Over 40, tradeable instruments Excellent customer service Cons High minimum deposit. IG Trading app, MetaTrader mobile Minimum Initial Deposit £ Pros Outstanding platforms and tools Over 19, tradeable instruments Competitive pricing Cons No predefined layouts on the flagship web platform Limited product range on MT4. Pros Low trading costs Excellent web and mobile platforms Robust research materials Cons Educational offering could be improved MT4 offering limited to 62 symbols.

Pros Outstanding platform in thinkorswim Thorough research offerings Excellent educational materials Cons Does not offer copy trading Forex pricing is slightly higher than industry average.

City Index mobile, MetaTrader mobile Minimum Initial Deposit £ Pros Excellent platforms and mobile app Extensive range of markets High-quality market research Cons Pricing is average for the industry Limited product range on MT4.

Pros Multiple high-quality platforms Excellent market research Wide range of markets Cons Only about instruments are available on the MT5 platform, compared to over 4, on non-MetaTrader platforms.

Pros High-quality market research Excellent options for algorithmic trading Cons Fees trail discount leaders Limited tradeable products. Best forex trading apps comparison Using our forex brokers comparison tool, here's a summary of the features offered by the best forex trading apps.

school Forex trading for beginners New to trading forex? savings Remember: There is no get-rich-quick scheme for trading forex, and it isn't a way to make fast money unless you take extreme risks and bank on luck — which is more akin to gambling than investing. Submit Details. Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers. Blain Reinkensmeyer Blain Reinkensmeyer has 20 years of trading experience with over 2, trades placed during that time.

John Bringans John Bringans is the Senior Editor of ForexBrokers. Joey Shadeck Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers. Saxo Bank. CMC Markets. TD Ameritrade. City Index.

Interactive Brokers. FP Markets. Admiral Markets. IC Markets. XM Group. You will get INR 10 Lacs virtual money at the time of registration and you can top up any time.

What type of orders are available? Market Orders, Limit Orders, and stop-limit orders are available. You can place Intraday and regular orders. All intraday orders are automatically squared off at the end of the day. Real trading has an impact whereas trading with virtual money may not influence the market, will that give a real-time experience?

Yes, you will get the real-time experience as our platform executes orders based on actual Offer and Bid prices running in the live market.

Only the money that you would use is virtual. Is data feed real? Yes, the data feed is real. How much virtual money is available? You can top up to Rs. Can I set stop loss and target on my orders? Yes, you can set stop loss and target prices easily. You can set the target or stop loss both as a percentage and a fixed number. How do you calculate the margin required for placing an order?

To give you real-time experience, we use the actual calculation to show you the margin required for placing buy and sell orders. The platform will alert you if you don't have the required margin to place an order.

What all instruments can I trade? All equities, futures, options, and commodities are available for trading. What reports are available for analysis? Dashboard, Account summary of current day and last 30 days, a day-wise summary of last days along with detailed report downloadable in excel format. Neostox, the real stock trading experience with virtual money. With Neostox, you can try all your strategies and become more experienced trader.

Live Market, Virtual Money Real trading experience of live market with virtual money. Hedge Trading A full-fledged hedge trading platform that even shows the information related to hedged positions. Basket Orders Create your baskets and execute them manually or set triggers using an algorithm.

This is because you will be trading via the demo account facility offered by your chosen broker. In this guide, we discuss the best paper trading app of For more information on one of the apps listed below — scroll down!

If this is the case, important metrics to consider include:. Taking all of the above into account, finding a suitable paper money trading app for you and your long-term financial goals can be time-consuming. In our view, eToro is by far the best paper trading app available in the market. Compatible with both iOS and Android devices, this paper stock trading app can be downloaded free of charge. This is more than enough for you to learn the ins and outs of how online trading works.

In terms of what you can trade, eToro offers most asset classes. In terms of direct ownership, you can buy shares, ETFs, and cryptocurrencies. This covers many of the best stocks , indices, digital currencies, forex, commodities, and interest rates. Irrespective of what you decide to trade on the eToro app, the provider does not charge any commissions. Going back to the demo account facility momentarily, it is important to note that this mirrors live market conditions.

That is to say, whatever you see on the paper trading platform is mirrored like-for-like with actual eToro buy and sell orders. This ensures that you get the most from your paper trading endeavours. If you decide to upgrade to a real money account, eToro is licensed by the Financial Conduct Authority , CySEC, and ASIC. Once you have funded your account, you will then have access to the eToro Copy Trading feature. This allows you to trade passively — as your chosen investor will buy and sell assets on your behalf.

If you want to learn more about eToro, you can check out our eToro app review for a more detailed look at what this broker has to offer. It was only until recently that options became accessible to the average trader.

This is because they are complex financial instruments that are best suited for experienced investors. Nevertheless, by using a paper trading app like AvaTrade — you can learn the ins and outs of how options contracts work without risking a single cent.

In particular, the application gives you access to options in the form of forex and gold. This is a great way to gain exposure to your desired marketplace in a low-risk, high-reward manner. You can trade calls, puts and spots, and easily deploy combination strategies. Regarding the latter, we like that the AvaTrade platform automatically reduces spreads when you utilise a combination strategy to trade options.

This also means that the app is conducive for hedging — as your trading costs are kept to an absolute minimum. The AvaTrade app also stands out for its provision of risk management tools. This includes heaps of market orders, portfolio simulation, and the ability to trade with small stakes.

The AvaTrade app can be downloaded free of charge and is compatible with both iOS and Android devices. If you decide to upgrade to a real money account, AvaTrade requires a deposit of just £ In terms of regulation, AvaTrade is licensed in several jurisdictions and thus — has a great reputation in the space. There is no guarantee you will make money with this provider. This platform has a great reputation in the online and mobile trading scene, especially when it comes to forex.

You will have access to lots of currency pairs — including plenty of majors, minors, and exotics. Not only can you access these forex pairs without paying a single cent in commission — but spreads are very competitive. Each and every pair can be traded on leverage, too. As always, your limits will depend on where you are based, which currency pair you decide to trade, and whether you are a retail or professional client.

You can use this on any asset class of your choosing — by it forex or CFDs. You will also have the option of trading via MT4 at FXCM. Once you open an account, you simply need to download the MT4 app on to your phone and log in with your FXCM credentials.

This is well worth considering, as MT4 provides heaps of tools and features — including the ability to deploy automated trading robots. We should also note that the FXCM app is super-safe — which includes a fully-fledged license with the FCA.

Trading is an online trading platform that is proving popular with UK investors. Its mobile trading app — which is available on iOS and Android devices, is split into three departments. This covers share and ETF dealing, CFD trading, and Stocks and Shares ISA. This covers more than 4, stocks and ETFs — and there is no foreign exchange fee when purchasing non-UK assets. In order to get started, all you need to do is download the app.

There is no requirement to open an account to access to paper trading facility — meaning that you can get started straight away. This is because the app is super simple to use and comes with an easy-on-the-eye colour scheme.

The popularity of Trading with UK traders is further highlighted in its app store ratings. This stands at 4. If you decide to upgrade to a real money trading account, this app provider does not have a minimum deposit in place. When it comes to safety and security, the Trading app is authorised and regulated by the FCA. Read our comprehensive Trading app review to find out more about what this brokerage firm offers. This age-old broker was first launched in and is now a publicly-listed company.

The provider gives you access to over 10, shares and 17, CFD trading markets. With that said, the IG paper trading facility is only available on CFDs. This covers everything from stocks, hard metals, energies, bonds, indices, and more. If you decide to join over , clients by opening a real money account, then you will benefit from commission-free CFD trading. The only exception to this is stock CFDs — which come with a variable percentage fee.

Spreads are very tight on most asset classes, and leverage is available on all CFD markets. If you opt for traditional shares at IG, then you will pay £8 per trade. If you are able to trade at least three times per month, then this is reduced to £3. IG offers two trading platforms — both of which can be accessed on your mobile phone.

IG supports debit cards, credit cards, and bank wire transfer. You fund your account with the Android app, but not iOS. Finally, it goes without saying that IG is heavily regulated. This includes licenses with the FCA and ASIC — so safety should be of no concern. Want to learn more about the IG trading app?

Check out our expert IG review. After all, the broker is one of the biggest and most trusted trading platforms in the domestic marketplace. Although most traders prefer to use the online platform — TD Ameritrade also offers a fully-fledged mobile app. Best of all, you can start off with a paper trading facility to help you get to grips with how the application works.

The TD Ameritrade app gives you access to most features and tools as found on its main desktop site. This includes to ability to place real-time market orders, view and explore integrated charts and quotes, and even create watchlists.

What we also like about this trading app is that you can set up price alerts. In terms of the specifics, real money accounts come with free stock and ETF trades. Additionally, the TD Ameritrade app gives you access to over 11, funds — which is great for passive investments. com is likely to be your best bet. This forex specialist offers its trading platform online or via a fully-fledged mobile app.

While this includes all major and minor pairs, the Forex. com app is also great for exotic currencies. You can test the Forex. com app out for yourself via its demo account facility. Each account comes with a life span of 30 days — which should be enough time to get to grips with how the app works.

The application comes packed with tools and features. This includes technical indicators and chart drawing tools — alongside leverage. If you decide to use the Forex. com app to trade with real money, there is no minimum deposit amount when opting for a bank wire.

In terms of fees, you can choose from a commission-free or standard account. FXTM is a hugely popular online trading platform that now boasts a customer base of over 2 million users. You will be able to trade forex and range of CFD instruments. Leverage can go as high as on this platform, albeit, this will depend on your trading status and chosen asset class. All account holders have the option of trading with paper funds — which is accessible via the app or desktop site.

To complement the demo trading facility you will also have access to heaps of educational material. This includes eBooks, videos, and even regularly hosted webinars.

FXTM also offers a copy trading feature, albeit, this is nowhere near as good as what eToro offers. Nevertheless, the FXTM app offers several account types.

Pros Multiple high-quality platforms Excellent market research Wide range of markets Cons Only about instruments are available on the MT5 platform, compared to over 4, on non-MetaTrader platforms. New York Stock Exchange. Besides, currency pairs can be backtested with this data to understand their behaviours. Trading signals, alerts, trade from charts. Plus is a well-regulated and popular CFD trading broker.

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