What is the Paper Trading app?
A simulated market trading of buying and selling is known as paper trading. In this trading, investors use the best paper trading apps. Without actual money transactions, investors sell and buy virtual securities. In Paper trading, investors place their orders, execute transactions, and monitor the market and portfolio-related activities without any risk of losing money.
Key Features best trading Platform
The great paper trading platform should be developed as near to live to trade. For successful trading practice, you must choose a trading app that gives you the real taste of real trading.
The best paper trading platforms must contain the following key features.
Real-time and accurate market data
In live trading apps old data is irrelevant, so you must choose such a trading platform that shows current data, not delays more than 20 minutes on price quotes.
Effective analytical tools
A paper trading app or website must have effective analytical tools that help you better technical analyze the data. Effective analytical tools will help you to learn new things and ideas such as technical indicators and chart patterns.
User friendly, effective, and functional interface
The best paper trading platform should be a user-friendly, more effective, and functional interface. If you will choose a complicated app then you would not learn properly. So always choose the app that works well.
Realistic
The best app must be working as a live approach. It must seem like a real live app where investors do business. Real apps make investors knowledgeable.
What are the best paper trading apps?
We have created a list of the best working paper trading apps. All ten are the best paper trading virtual apps. All of them contain the best key feature that any investor wants.
1. eToro:
You can immediately start trading on etoro with a 0% commission.
This app is very compatible with iOS and Android. In our experience, eToro is the best app for paper-trading in the market. You can download this app free of cost. This is very user-friendly, you just open an account and then you get started. After this, you will receive $ 100,000 as a paper trading balance. This is enough for you to learn all the things about how you can do online trading. On other hand eToro help you out where you have to trade, eToro offers assets of most of the classes. In the case of direct ownership, you can buy shares, ETFs, and cryptocurrencies. For the short-term trading strategies, eToro also offers CFDs. It covers many classes like best stocks, indices, virtual currencies, forex, and interest rates.
2. Plus500
Plus500 is the leader app in the global market of CFD trading. This contains thousands of financial instruments with most asset classes. Plus500 app includes forex, digital currencies, stocks, bonds, indices, and commodities. All the users of this trading app get access to a paper trading facility.
When you started to work on this app, a £50,000 balance is given to you, which you can use as your own desire. Plus500 will recharge your balance to £50,000 when your balance gets low to £200. This help you with the demo trading facility until you are prepared to upgrade with an actual money account.
Plus500 requires a deposit of the minimum amount of £100. This app supports several payment methods which include PayPal, Bank transfers, and debit/credit.
3. AvaTrade
Among the best paper trading apps, this is the best for experienced investors. It has complex financial instruments. By using the AvaTrade app you can learn all ins and outs of how this app work, and how we can do trading successfully.
The application gives you access to options in the form of gold and forex. In this way, you can get more exposure to your dreamed marketplace with low risk. You can deploy combination strategies easily by trading calls, puts, and spots.
You can download the AvaTrade app free of charge and also be compatible with Android and iOS devices. After learning properly from a demo account, if you want to upgrade your account of real money, AvaTrade requires a minimum amount of just £100. This can be facilitated with several payment methods which include PayPal, Bank transfers, and debit/credit. AvaTrade has a great reputation due to licensing in various jurisdictions.
4. E*TRADE:
E*TRADE offers the best paper trading platform; this includes the best paper trading simulators. This app is available on platforms, app, and websites. This allows every user to practice trading stocks, options, and other equities by using virtual money.
It is very helpful to increase your trading skills. This app also helps you out with how the E*TRADE app works. It’s very user-friendly, just create an account and start playing with the app option to learn paper trading.
5. Webull Paper Trading
This app has all the best features for the paper trading simulator. Webull offers paper trading on both mobile versions and desktop. The design is very amazing and attractive the dedicated screen of paper trading. This is also a very user-friendly app.
On creating your Webull account, you will be given an initial virtual amount of $100,000. You can use this amount by your own wish. You can do the proper practice of paper trading.
6. Interactive Brokers
This is a tremendous paper trading platform with various unique features. Interactive Brokers also offer virtual simulators for trading with almost complete features of a live platform. It includes a portfolio algorithm option which is the key feature. It helps to adjust your account to the risk dimensions of the Greek and commission factors and decay.
There are other amazing features of options strategy Lab and probability lab. Such unique features make this app one of the best trading apps.
7. Capital.com
Just visit the website capital.com. This is the best trading website and app for trading currencies. By creating your account, this app offers you a demo account for the duration of 30 days. This access you almost every feature for learning the paper trading like technical indicators, charting, etc.