Are you new to the term “Paper Trading”? Do you want to know about what paper Trading is? How does it work? And which are the top 5 paper traders? In this article we will give a review of top 5 paper trading apps shortlisted by Traders Union. And also give a brief degiro review.
Degiro Traders:
Popular traders among Europeans. In the Netherlands, investment firms are not allowed to keep clients’ money inside the company so Derigo funds are automatically transferred to money market funds. Traders’ deposits above 20,000 euros are protected by the central bank. They have been in the market for 12 years now. They have over a million of clients working actively and have won over 86 international awards.
It is a reliable trading platform allows you to invest in stocks, bonds, ETF, and other products. Clients are provided by a convenient platform that allows them to monitor transactions.
Here are few benefits of Degiro Traders:
- Offers low trading fees.
- Have multiple license
- Assets of a wide range are available for trading.
- Providing a protective trading environment.
- You can trade via both web terminals and mobile phone platforms.
- You will get access to the current new feed once you open your account.
What is Paper Trading and how does it work?
Paper trading apps are the platforms offering you to buy and sell stocks with virtual cash. It is free or if it isn’t free it offers free trials. There is no risk of losing your money or investment.
Paper trading works by providing you a place where you can buy and sell stocks without any fear of getting scammed or loss of investment. It is the best platform for beginners to learn about trading. Professional traders can also benefit from it as they can practice new trading strategies.
Top 5 Paper Trading Apps:
Here we have shortlisted best trading app for Paper Trading:
- eToro
- eOptions
- Interactive Brokers
- TD Ameritrade
- SoFi
eToro:
Working since 2007 and the best option for beginners. They offer a trading account with all the required features. You can use it on your browser or mobile app. With the help of eToro you will have access to all trading instruments available on the website. Education section is also available to provide you with quality trading experience.
eOptions:
They are offering good paper trading applications with sixty days free trial. They provide you 100,000$ capital to play around which is more than enough for beginners. Incase of novice traders, free trading is the best option for you. Traders and clients can use eOptions to perform their research about it and develop new trading strategies.
Interactive Brokers:
If you are interested in trading in international and forex markets, interactive is the best option for you. You will get a 30 day free trial which you can use to learn about trading options and strategies. You get capital of about 1,000,000$ to trade. They offer educational courses and online material to help their traders learn about trading.
TD Ameritrade:
If you are a professional who knows everything about trading but wants to try out new trading strategies then TD Ameritrade is the best option for you. It is also known as paper money. It is specifically designed for desktop use. You will get 100,000 dollar funds to trade. This platform is best for existing traders and novice traders who are new in trading. You will get a 60 day free trial on this platform.
SoFi:
Investment company since 2011. Working with the membership of FINRA and SIPC. Traders can combine transaction with stock market instrument along with leading insurance. They are offering two type of investment to their clients: active trading and passive investment. There is no commission for trading stocks.
