Best Day Trading Simulators in UAE

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Are you interested in day trading and you are looking for a great day trading simulator to start with in UAE? Our guide to the Best Day Trading Simulators in UAE gives you all the information you need to choose the right broker. We use data from 105 online brokers in 9 categories for our analysis. The categories we use are: platforms and demo accounts, available assets, mobile trading apps, research & education, fees, customer support, regulation, deposits & withdrawals, and islamic account availability.

After comparing 214 variables with 3500 data points overall, we consider the following as the best day trading simulators in UAE:

TOP 5 Day Trading Simulators in UAE

Wanna speed things up? Below are the best day trading simulators and demo trading accounts available to UAE traders:

  • Capital.com – Best Day trading simulator overall 
  • AVA Trade – Best For Forex and CFDs
  • TradeStation – Best For Futures
  • eToro – Best For Beginners
  • IG Trading – Best Trading Platform
RANKBROKERGENERALPLATFORM SCOREBEST FORWEBSITE
#1Capital.comVery good customer support4.7 / 5Best OverallOfficial website
#2AVA TradeGood social trading options4.8 / 5Best For Forex and CFDsOfficial website
#3TradeStationGreat choice of trading instruments offered3.7 / 5Best For FuturesOfficial website
#4eToroGreat Social trading service4.9 / 5Best For BeginnersOfficial website
#5IG TradingVery good choice of different trading platforms5 / 5Best Trading PlatformOfficial website

Reviews of the Top Day Trading Simulators and Demo Accounts in UAE

Day trading simulators and demo trading accounts mirror the real financial markets by offering virtual money to its users. You have to sign up at a broker to use one of them. Below is a detailed break down of the best brokers offering day trading simulation including their pros, cons and key takeaways:

01. Capital.com: Best Day trading simulator overall

capital-com-rating

Capital.com is a top choice for traders looking for a discount broker with great educational content and resources, advanced research tools and a premium trading interface. They offer a wide range of tradable assets including CFDs on cryptos, stocks, indices, commodities and forex pairs.

Founded in 2016, Capital.com is an international fintech company which has group of entities authorised and regulated by the Financial Conduct Authority (“FCA”), the Australian Securities and Investments Commission (“ASIC”), the Cyprus Securities and Exchange Commission (“CySEC”), and the Financial Services Authority of Seychelles (“FSA”). It does not operate a bank and is not publicly traded.

Choose Capital.com if you are looking for a great mobile trading experience, professional web trading interface, day trading features. Beginner traders will like the low minimum deposit ($20), industry leading commission structure, and award winning education section.

Pros:

  • MetaTrader 4 (MT4) and TradingView trading platforms available for Day trading simulation
  • Speed adjustment options and additional features for historical data trade simulation
  • Advanced Trading tools like chart types and additional timeframes available for day trading simulation 

Cons:

  • Futures not available

Key Features:

  • Access to 6.000 tradable symbols and 477 cryptocurrency CFDs
  • High quality research and educational content
  • Patented AI trade bias system
  • $20 minimum deposit
  • No inactivity fees

02. AVA Trade: Best For Forex and CFDs

avatrade-rating

AVAtrade is a well trusted global online broker for forex and CFD trading. Their multi-asset trading platform and mobile trading app enable traders to access 1365+ tradable symbols overall, including 1200+ CFD’s, major currency pairs with low forex spreads and premium options.

Beside their proprietary platform AVAtradeGo and MetaTrader, AVAtrade has great selection of copy trading solutions including ZuluTrade, DupliTrade and AVAsocial.

Account opening is fast, deposits and withdrawals are free of charge. The minimum deposit is $100. 

Choose AVAtrade if you are a beginner or semi advanced forex trader, looking to trade major forex currency pairs, options or CFDs as stocks, cryptos, indices or commodities with premium services.

Pros:

  • MetaTrader 4 (MT4) and MetaTrader (MT5) trading platforms available for trading simulation with real time and on historical data
  • Good trade execution on Forex and CFDs
  • Solid choice for day trading with trading bots

Cons:

  • Futures not available

Key Features:

  • Access to 1250 CFDs and 44 forex options
  • Excellent copy trading features
  • Advanced mobile trading app (AvaOptions)
  • Industry average pricing
  • Perfect for casual and advanced traders
  • Access to the full meta trader suite

03. TradeStation: Best For Futures

trade-station-rating

Tradestation is a reputable online broker known for its technology-leading trading platforms, great selection of tools and zero commission stock and ETF trading. Their industry leading trading platform suite combines a desktop, web and mobile version which are all performing above industry average. Tradestation offers a great selection of most popular asset classes including stocks, cryptos, options, futures, ETFs and IRAs.

Their trading fees vary based on account selection. Pricing is below industry average on the most used accounts (select and GO).  Minimum deposit is $2000 and there are no monthly charges. 

Pros:

  • Reset button to reset trades if you want to try new trade
  • Fastest trade execution in futures market
  • Competitive futures trading fees

Cons:

  • Forex and CFDs not available

Key Features:

  • Access to over 20,000 stocks, ETFs, options, futures, mutual funds, bonds, and other financial instruments.
  • Early-access to newly listed securities via TradeStation’s IPO trading platform
  • Broad range of research and analysis tools for advanced traders like FuturesPlus, TSCrypto, Discover, and Insights
  • Fully paid stock lending and margin trading available
  • Low floating spreads, commissions, and other trading fees
  • Perfect for both beginner and advanced traders

04. eToro: Best For Beginners

etoro-rating

eToro is a reputable global brand and industry leading broker for copy trading. Their robust and cutting edge copy trading platform and social trading features allow users to copy trades and portfolios from professional traders and investors.

As a CFD multi asset broker, eToro allows users to trade on over 3075 different symbols including stocks, forex, cryptos, indices and commodities. Trading spreads are wide, deposits are free and account minimum is low. There are conversion and inactivity fees. eToro provides a comprehensive list of technical tools, charts, and newsfeeds. Their customer support is available through email and live chat in Arabic and English.

eToro is a well established market maker broker with a clean history record, regulated by top tier regulators.

eToro AUS Capital Ltd ACN 612 791 803 AFSL 491139. OTC Derivatives are speculative and leveraged. Not suitable for all investors. Capital at risk. See PDS and TMD

Pros:

  • Intuitive day trading platform for simulation is easy to use
  • Social trading is available with demo accounts
  • Good trade execution

Cons:

  • Trading simulation on historical data not available
  • Futures not available

Key Features:

  • Sophisticated social-copy trading features
  • Multiple different payment options
  • Crypto exchange and brokerage services on the same dashboard
  • Super fast registration and KYC on-boarding process
  • Zero commission stock trading
  • Great ease of use level

05. IG Trading: Best Trading Platform

ig-rating

IG is one of the largest and most popular regulated forex and CFD brokers globally. Traders can trade thousands of markets using IGs trading platforms like L2 Dealer and ProRealTime or connect their IG brokerage account with MetaTrader 4.

IG offers educational material, daily market update videos, and both technical and fundamental analysis case studies. If you are new to online trading, you can practice with IG’s free demo paper trading account first. For experienced traders IG offers spread rebates and access to more advanced financial instruments like digital options. 

Pros:

  • MetaTrader 4 (MT4) and ProRealTime (PRT) trading platforms are available for trading simulation with both real time and historical data
  • All trading instruments are available (Forex, CFDs and Futures) 
  • Good trade execution on all asset classes

Cons:

  • Higher fees on stock CFDs than other brokers 

Key Features:

  • Trade over 17,000 markets with a broker that has been in business since 1974
  • Access to Turbo24s, and CFDs and options on forex, indices, crypto, stocks, and commodities
  • Unlimited free demo paper trading account
  • Advanced research and analysis tools like L2 Dealer and ProRealTime
  • Access to APIs to set up Expert Advisors and other automated trading software
  • Receive trading signals and alerts to find excellent entry and exit points

How to Choose the Best Day Trading Simulator in the UAE?

We choose the Best Day Trading Simulators in UAE based on our comparison of 105 online brokers across 9 categories. The categories we use are: platforms with demo accounts, customer support, assets available, mobile apps, regulation, costs, research & education, withdrawal & deposit, and islamic accounts. Below is a detailed breakdown of each of the categories we tested and the exact criteria used:

  • Assets: Your broker should offer day trading simulators in many asset classes. Make sure you can practice with: futures, forex, stocks, ETFs, commodities, indices, bonds, mutual funds, and cryptos.
  • Mobile Trading: Mobile trading platforms let you practice and trade from anywhere. Your broker should have a mobile platform that operates with both iOS and Android. 
  • Research & education: You will learn about trading with practice, but choose a broker that includes market research and free educational tools as well. 
  • Customer support: Customer support is a vital part of any brokerage account, so look for a broker that has 24/7 support in a language that you understand. 
  • Fees: Trading simulators should be free, but when you start to trade with real money, look for brokers that offer 0% trading fees, and make your life easy. 
  • Trading platforms: The trading simulator you use should be identical to the real trading platform, so when you transition to real trading, it is seamless. 
  • Deposit & Withdrawal: Deposits and withdrawals should be free to make, although the payment platform you choose may have fees attached to transactions. 
  • Regulation: The FCA, CySEC, and ASIC regulate financial services, including brokers. Don’t risk your capital with unregulated brokers. 

*Islamic Accounts: Traders in the UAE have account options compliant with Sharia law. If you need to have an Islamic Account, make sure the broker you choose is compliant.

What is trading simulation?

Trading simulations let you test trading ideas before you use real money in the markets. Brokers call a trading simulator a demo account, and it allows you to use hypothetical funds in the real markets. The trades don’t make or lose money, but you will be able to practice trading with the same platform used for trading. 

Why You Should Use a Trading Simulator? Pros and Cons Explained

Trading simulators allow you to practice both trading, and operating the trading platform. If you are new to trading, a trading simulator is a great tool. However, the trades in a simulator won’t actually connect to the market, so there won’t be slippage, which isn’t realistic.

The main pros and cons of using trading simulation:

Pros:

  • Trading simulation offers faster trading education
  • No exposure to trading risks
  • Ability to test trading strategies without risk of loosing money
  • Building confidence in your trading

Cons:

  • No fees and commissions included in your trading experience
  • The real stress factors are missing
  • No real data movements

How to Set up a Simulation Account?

Brokers offer trading simulators to clients for free, so if you sign up for an account with a broker like eToro, you will be able to use its trading simulator. While the trading simulator is free, you have to open and fund an account to access the platform, so keep that in mind. 

How to Get Started With a Day Trading Simulator?

Are you looking to get started with a day trading simulator? Follow the steps below to set up your free eToro demo account.

get-started-with-day-trading-simulator-on-e-toro

1. Register

You will need an eToro account before you can start using their day trading simulator. Navigate to the eToro website and click on the ‘Start Investing’ button. A pop-up will show up and ask for your personal details. Fill these in and click ‘Create Account. 

etoro-account-opening

2. Switch to Demo Trading

Once you have created your eToro account, log in and switch to demo mode. You do this by clicking on your username and then selecting ‘Virtual Portfolio’ from the dropdown menu.

3. Trade

Search the available markets for the asset you want to trade. You can use the search bar in the middle of the screen to do so. Click on it, specify how much virtual money you want to invest and click on ‘Open Trade’. 

4. Create a Real Money Account

If you get the hang of trading with the eToro day trading simulator and wish to trade with real money, you can do so at any given moment. To do this you click ‘Real Portfolio’ under your username. You then proceed to go to the deposit page. Here you can make a deposit with your credit card or by PayPal. 

Conclusion

After analysing 105 online brokers that offer day trading simulators to UAE traders and comparing them across 9 different categories, we consider Tradestation as the best day trading simulator. They offer unlimited account funding on demo accounts, access to real time market data and back testing on stock, futures and options trading strategies. Users get access to the industry largest database of historical market data.

FAQ

Can I use a day trading simulator on MetaTrader 4?

Yes, to do this you sign up at one of the brokers above and sign in MetaTrader 4 with the credentials this broker provides you.

What is the best day trading simulator or demo account in the UAE?

We found eToro to offer the best day trading simulator. With this demo trading account, you can trade over 2,400 stocks and other assets.

Do day trading simulators show the same prices as real trading accounts?

Yes, most day trading simulators and demo accounts mirror real financial markets.

What is the best app to practice day trading for free in the UAE?

We recommend eToro’s day trading app. You can download this app for free on both Android and iOS devices.


Methodology
The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of the best online brokers. Trading platform, fees, mobile trading, payments, assets, regulation, education, and research are all part of our six-month evaluation of a broker’s trading platform. The rating scale was based on thousands of data points that have been weighted into the scoring system. Brokerages were required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online brokers we reviewed. Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Disclaimer
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Stefan Grasic (Dipl.-Jur) is the World Wide Director of research for Buisness24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active Crypto, Forex and general investment researcher advising blockchain companies at their start up level. He keeps fit by mountain biking, surfing, skiing and lots of other adrenaline sports.

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