Paper Trading- Best Learning Platforms

Paper Trading

Paper trading is simply simulation trading. What hinders investing in stocks? Is it because, like many of us, we fear losing our hard-earned money by doing the “wrong”? Investing in stocks can be a bit stressful at first, but luckily, some brokers offer a way to master it before you bet real money. This is called paper trading.

Paper trading is also known as virtual trading. This includes practicing buying and selling without taking a penny risk. New traders use this service to modify their stock investment strategy before transferring funds to their brokerage account.

You are required to open an account with a regulated broker to start paper trading. There are a lot of brokers to choose from, but we’ve compiled a list of the top-most trusted brokers in the UK that offer paper trading accounts. We have prepared a list of top brokers after analyzing the fees and structure everything.

Paper Trading Platforms- Our List

  1. eToro
  2. Plus500
  4. AvaTrade
  5. FXCM
  6. TradeStation
  7. E*TRADE
  8. Webull Paper Trading
  9. TD Ameritrade Thinkorswim
  10. Interactive Brokers

We have compiled a list of the best paper trading platforms. All the top 10 platforms that we have chosen are the best. They all offer features that every trader wants.


eToro paper trading platform

eToro is one of the best paper trading apps out there. It offers different types of assets to learn how to trade. eToro is very popular for reflecting real-time market conditions. With a starting virtual cash balance of $100,000, eToro has all the features of the best virtual trading simulator.

eToro is a popular online trading platform that allows investors to trade thousands of markets and products without commission. This broker is also a full-fledged trading social network that allows investors to interact with other traders and track their trading activity. It includes a trading tool called CopyTrade that allows users to copy trades from experienced investors and trade them in a fully automated way.

The broker offers a free paper trading account with a preset balance of $100,000 in virtual currency. eToro’s platform is one of the most user-friendly and user-friendly platforms on the market and is very similar to other social networks. The platform provides access to a social trading platform where you can learn how to trade, follow other members, create user profiles, and use the CopyTrade tool.


Plus500 paper trading platform

Plus500 is one of the best CFD paper trading apps. This allows you to trade multiple financial instruments across most asset classes. The Plus500 paper trading app offers a starting virtual cash balance of £50,000. As soon as your balance goes below €200, your balance will be restored to its original amount. Plus500 guides you through unlimited practice to ensure learning and make it one of the best paper trading platforms.

Plus500 allows users to easily switch between the two accounts and have unlimited access to the demo account. Plus500’s easy-to-use trading platform is becoming increasingly popular with investors due to its simplicity, ease of use, and profitable pricing structure. paper trading platform is the premier paper trading site and app for Forex traders. The application grants access through a demo account for 30 days. You will also have access to numerous technical indicators, charts, and other features. is fully regulated in the UK by the Financial Conduct Authority (FCA). is a global trading platform operating in various countries. The broker has a sophisticated and award-winning in-house trading platform that gives investors access to everything they need from a single platform, including advanced charts, risk management tools, financial news, trading information, and powerful trading skills.


AvaTrade Paper Trading platform

AvaTrade is one of the best paper trading options out there. It is difficult for beginners to trade options and options serve the best deals. However, the paper trading platform AvaTrade has made learning options easy without risking a penny. The app also provides access to currency and gold options. Thus, exposure to the desired market is also possible. You can practice a variety of strategies to observe and analyze.

AvaTrade has a sophisticated platform called AvaOptions that can be used on both mobile devices and desktop computers. AvaOptions is a unique and innovative platform with advanced features developed specifically for options trading. AvaTrade investors have access to more than 40 currency pairs and basic option combinations from a single account.


FXCM Paper Trading platform

FXCM is a UK-based broker specializing in CFD and Forex trading services to retail and institutional clients. The broker was founded in 1999 and has a long history in the market. It is therefore considered safe as it is regulated by senior financial authorities such as the UK’s FCA and Australia’s ASIC.

FXCM is best suited for active Forex traders thanks to its wide range of FX currency pairs and competitive spreads. It is also one of the best trading platforms on the market for those who want to use automated trading strategies. This trading platform is especially popular with day traders due to its competitive pricing structure and selection of professional trading platforms.


TradeStation Paper Trading Platform

TradeStation is another popular online stock broker that offers virtual trading accounts within the app. You can use it to test platform features you don’t normally use such as expansion orders, strategy automation, or other types of markets.

The TradeStation platform is only suitable for professional traders who need a highly technical platform. With TradeStation’s new TS GO account option, beginners can now grow as investors with access to professional stock raters and extensive training and development tools.

The strength of TradeStation is the number of offers that can be traded. The resources are complemented by a variety of educational tools and resources. TradeStation offers a $0 fee for stocks and most ETFs.


E*TRADE paper trading platform

E*TRADE offers a paper trading platform, one of the best virtual trading simulators. E*TRADE is available in the application form as well as in web form. It offers all the top financial instruments for trading. Helps develop business skills. You will also learn how the E*TRADE platform works.

E*TRADE provides investors with stock, options, and bond trading as well as paper trading services. Before executing a trade, you can check the effect of the trade on your account, which is great for DIY traders. If you have an E*TRADE account, you can access the service online or in the app. You have to just click the paper transaction icon in the app and log in.

After accessing the web, log in and activate the paper-trading option at the top of the screen. You can set up almost any type of trade, from stocks to options. Y

Webull Paper Trading

Webull paper trading

Webull Paper Trading is one of the most popular platforms and it has all the features that are required in trading. It offers a paper trading platform in both mobile app and desktop versions. The design of the application is stunning with a screen dedicated to paper trading. The application tool follows a live trading model. It provides the perfect practice for real trading. The app initially offers an adjustable virtual cash amount greater than or less than $1 million. All you need to do is create a Webull account to use one of the best paper trading apps.

The Webull financial trading app offers a free paper trading service that you can use to test new investment strategies or become familiar with investing. The service is easy to use through the application. Just click on the paper deal icon. All paper accounts receive $1 million to start trading. From there you can buy and sell stocks on the mock account. This is exactly what you would expect from a brokerage account.

TD Ameritrade Thinkorswim

TD Ameritrade's thinkorswim paper trading platform

TD Ameritrade’s Thinkorswim is one of the best paper trading platforms. When you create an Ameritrade account, you are given two different paper merchant accounts. The first is a standard margin account and the second is an IRA account. The initial virtual cash balance for both accounts is $100,000.

Thinkorswim paper trading platform is the best paper trading platform, especially for options trading. Some notable features are the strategy roller and options stats. Traders also have access to over 400 technical indicators and the CBO’s TradeWise Options newsletter. TD Ameritrade may not be the first company that comes to mind when you think of an options broker, but the Thinkorswim platform has some great tools for trading options. And all of this is available for live and paper trading accounts.

Interactive Brokers

Interactive Brokers Paper Trading platform

Interactive Brokers has a huge trading platform with some unique features. It offers all the trading features in a demo account just like a live account. The options portfolio algorithm is the most important feature. Adjust your account to the Greek risk dimension to account for fees and forfeiture. This unique set of features makes it one of the best paper trading apps out there.

Interactive Brokers has a huge Trader WorkStation platform that allows you to analyze any type of market using hundreds of technical tools. It is designed for beginners for better understanding so that they can do well in live trading.

Fee Comparison of top paper trading platforms

BrokerDeposit FeesInactive account FeesWithdrawal FeesCommission
eToro£0£8 (After 1 year inactivity)£4£0
Plus500£0£8 (After 3 months inactivity)£0£0£0£11.50 (After 1 year inactivity)£0£0
AvaTrade£0£40 (After 3 months inactivity)£0£0
FXCM£0£50 (After 1 year inactivity)£0£0
TradeStation£0£50 (After 1 year inactivity)£0£0
Webull Paper Trading£8 (Domestic wire)£0£25 (Domestic wire)£0
TD Ameritrade Thinkorswim£0£0£25 (Domestic wire)£0
Interactive Brokers£0£0£0£0

What is Paper Trading?

Paper Trading

Paper trading, or paper trading, is a technology that allows budding traders to simulate the buying and selling of financial instruments in the stock market, including stocks, currencies, indices, cryptocurrencies, and gold.

Many traders tend to neglect the gold paper trading phase. This practice allows beginners to get into certain situations. Even if all of this happens in a fictitious setting, it allows you to trade on the spot by conducting “real” trades. Among other things, you can:

  • Know the functions of exchange and understand the mechanism of exchange.
  • Learn how to identify the most promising populations.
  • Manage your capital well.
  • Use the business interface effectively.
  • Trade with minimal risk of capital loss.

All young traders are advised to start this step before opening a live account with a broker. It is one of the surest ways to acquire the knowledge necessary to act effectively later in real life. Paper trading is no trifle and can help you become a great trader.

How to choose a paper trading platform?

The best paper trading platform should have the following characteristics:

Accurate and real-time market exchange rates

Outdated data is not relevant to live to trade, so you need accurate real-time market data. A better paper trading platform waits no more than 20 minutes for a price quote.

Easy to use, efficient, and functional interface

A better paper trading platform should have a functional, efficient, and user-friendly interface. A complex user interface doesn’t help you learn or earn. Finding an interface that works well is always a good choice.

Excellent analysis tool

A better paper trading app or site should have certain analytical tools to help with technical analysis. A good analytics tool allows you to try new things like new technical indicators and chart patterns. Multiple analysis tool options mean different ideas to try and learn.


The best paper trading platform should provide users with a realistic user experience. They should be seen as a real platform for investors to do business. A realistic platform allows users to learn effectively.

Paper Trading Account Size

Every broker offers a virtual balance in the demo account for trading purposes. Some brokers offer anywhere from £5,000 to £20,000 as a starting balance, while others allow you to exchange generous amounts of virtual currency.

Customer Service

Beginners are more likely to face many technical issues. Because of this, you need to make sure that the broker you choose supports multiple communication channels that provide an engaging trading experience.

How to do Paper Trading through an online broker?

Before the internet boom, paper trading consisted of only one sheet of paper to indicate the stock being traded. Almost all trusted online brokers now offer this solution. In our opinion, eToro is the best broker to learn more about paper trading. It gives you:

  • Free access to a demo account
  • Participate in social commerce copy work by experienced moderators.
  • We trade a wide range of financial assets that can be traded online.
  • a fluid and intuitive trading platform;
  • Access all types of media: Android, iOS, PC, and computer.
  • Open an eToro demo account: how does it work?

Creating an eToro demo account is very easy. To do this, follow the standard three-step registration process.

  1. Create an account
  2. Account Verification
  3. Start paper trading
Paper Trading eToro platform

Step 1- Create the account

To do this, go to the official website of the eToro broker and click “Sign up now”.  Fill the application form to create the account and provide your personal information. After creating a demo account, you need to validate the demo account so that you can trade within the deadline. However, you can also switch to demo mode after your account is verified.

Step 2- Account Verification

This step requires you to provide certain documents (ID, tax return, etc.) to verify your identity and increase account protection. Verification is important to check the authenticity of the system.

Step 3- Start paper trading

To operate paper trading with eToro, you must first put your account into demo mode. Just select “Demo Account” from the main interface. A virtual sum of $100,000 is automatically credited to your eToro demo account, which you can use to trade any stock.

First, simply go to the “Market” section of your demo account or type the name of the job in question into the search engine. When the promo card appears, enter your purchase details according to your goals and click “Place Order”. The eToro demo account allows you to trade paper in several ways-

  • CFD
  • Commodities
  • forex paper trading
  • Stocks
  • Futures

Advantages & Disadvantages of Paper Trading

The Paper Trading has positive as well as negative points that we are going to discuss her-


  • Learn the basics of trading
  • Familiarize yourself with the operation of the trading venue and the purchase of financial assets.
  • Study the basic principles of better capital management.
  • Back Test Practice
  • Learn to avoid unnecessary risks
  • Experiment with new business strategies
  • Learn from the mistakes of a young trader
  • Trade completely for free. You don’t need any capital to buy your first stock.


  • Some people can become frustrated when they cannot own the profits they have earned because they are unrealistic.
  • This practice does not always teach you to better deal with the stress of trading.
  • Unreal trading does not always reflect the exact trading conditions of real brokers.

Few tips for the beginners

If you want to get started in the paper trade, here are 5 tips to help you while trading-

Paper trade and physical trade are not the same

The psychological effect of trading with no consequences for capital is fundamentally different from trading with your own money. It’s like having coffee, chatting with friends, and talking to your employer about your job. These two are completely different things. When you finally switch to real trading, you need to start small and build up slowly.

Realistic scenario assumptions

If you can easily add zeros to your balance and remove previous transactions, you are more likely to succeed. But mere success is not conducive to learning. When trading paper, challenge yourself to keep your simulator account balance at the same level as your real capital, and if you make a mistake, don’t delete previous trades.

Manage failure

No one learns anything from victory all the time. The same rules apply when trading stocks. You should record and track results in a paper trading account. That way, you can refer to it if necessary to see where it succeeded or failed. It will help you learn and improve as an investor.

Participate in theoretical business training

The trading paper alone is not enough to be a successful trader. In general, the idea is to do some previous theoretical training before moving on to this stage. During this (training) you will learn the basics of trading. This is, in fact, a prerequisite for 100% profit in paper trading.

Stick to your strategy, even if your capital is not at risk

You don’t have to think too fast. Take the time to think through your business strategy in advance and stick to your original plan. As a result, you develop the discipline that will help you live up to expectations rather than seek profit, even when you are outside the realm of trading.

Final Words

Paper trading refers to buying and selling stocks with virtual currency. It provides an efficient way to navigate the trading platform and learn how to trade the market without risking your capital. It is suitable for beginners who want to become familiar with trading and for professionals who want to try new strategies. Take advantage of this demo account and try a few different platforms. Paper trading is about gaining experience, so participating in a test drive platform is the best way to make a decision.

Frequently Asked Questions

What is paper trading?

Paper trading is especially useful for traders who are completely new to trading. As mentioned earlier in this article, there is an opportunity to test your strategy before putting your capital at risk.

Can I trade on paper on the broker’s website?

With eToro, you can trade as many papers as you want at any time. All you need to do is access your demo account to trade risk-free every time.

What is the best application for paper trading?

Most online brokers offer applications that allow you to trade on any medium. It can be used for trading simulations via a demo account on the eToro platform.

What is the fundamental difference between paper trade and physical trade?

The fundamental difference between these two alternatives lies like the means used. Simulator accounts use virtual currency, but real accounts require real money. Otherwise, the functionality is almost identical.

Can you make money?

You won’t get anything from the trading paper and you won’t lose anything either. However, with regular practice on your simulator account, you can develop the skills and reflexes that will help you move into real mode.