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Are you looking for paper trading but you are not sure which is the Best Paper Trading Platform in UAE? For this reason only our team of experts took a database of 101 online brokers that offer paper trading services to UAE residents and compared them across 9 categories. Those include: platforms, assets, fees, research & education, customer support, mobile trading apps, regulation, deposits & withdrawals, and islamic account availability.
After analysing 214 variables and 3500 data points for each of the brokers, we consider the following as the Best Paper Trading Platforms in UAE:
5 Best Paper Trading Platforms UAE 2023 – List
- TradeStation – Best Paper Trading service overall
- Interactive Brokers – Best For Stocks & ETFs
- Capital.com – Best For Mobile Trading
- eToro – Best For Beginners And For Cryptocurrency
- AVAtrade – Best For Forex & CFDs
| RANK | BROKER | GENERAL | PLATFORM SCORE | BEST FOR | WEBSITE |
|---|---|---|---|---|---|
| #1 | TradeStation | Unlimited demo account (never expires) | 4,9/5 | Best Paper Trading service overall | Official website |
| #2 | Interactive Brokers | Very competitive trading fees | 4,9/5 | Best For Stocks & ETFs | Official website |
| #3 | Capital.com | Good option for all types of traders | 4,8/5 | Best For Mobile Trading | Official website |
| #4 | eToro | Great Social trading service | 4,9/5 | Best For Beginners And For Cryptocurrency | Official website |
| #5 | AVAtrade | Good social trading options | 4,9/5 | Best For Forex & CFDs | Official website |
Our Top 5 Paper trading Platforms Reviewed
1. TradeStation – Best Paper Trading service overall
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
- Many paper trading instruments available
- Real-time market data on all paper trading assets
- Reset button to clear trades if you want to start over
- Unlimited demo account (never expires)
Cons
- Reset button available to clear the trade, not realistic
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
2. Interactive Brokers – Best For Stocks & ETFs
Min Deposit: 0 ($2000 for margin account)
Fees: 4.9
Assets available: 4.9
Total Fees:
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.
Interactive Brokers is a highly trusted global broker with a well-rounded offer of tradable markets, great educational content and sophisticated order type configuration. It is a high trusted and well capitalize company with an industry leading trading platform, a competitive fee structure and great global market access. Their low entry level and the Global Trader platform, which is intuitive and easy to use trading station, make this broker s great choice for beginners and advanced forex traders.
Professional and seasoned traders will appreciate the great selection of advanced trading tools and order type configurations available on their proprietary Trader Workstation desktop platform (TWS).
Pros
- Many paper trading trading instruments available
- All 5 trading platforms available for paper trading
- Free research tools available for paper trading
- Unlimited demo account (never expires)
Cons
- Market data for all products delayed by 10-15 minutes except for OTC spot FX and OTC Spot Metals, which are live
Key features
- Margin loan rates on stocks of 1.3%
- Access to 135+ global markets
- Advanced order types, tools and features
- Access to frictional shares
- Lowest commissions in the industry
3. Capital.com – Best For Mobile Trading
Min Deposit: $20
Fees: 4.8
Assets available: 4.7
Total Fees:
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
- Demo account available with MetaTrader 4 (MT4) and TradingView trading platform
- TradingView allows paper trading with historical data
- Real time market data available for all trading instruments
- Unlimited demo account (never expires)
Cons
- Only Forex and CFDs available for paper trading
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
4. eToro – Best For Beginners And For Cryptocurrency
Min Deposit: $200
Fees: 4.8
Assets available: 4.8
Total Fees:
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. 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
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.
68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Pros
- Demo account trading platform easy to use
- Social trading available with demo accounts
- Unlimited demo account (never expires)
- Real time market data available for all trading instruments
Cons
- Does not support algorithmic trading
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
5. AVAtrade – Best For Forex & CFDs
Min Deposit: $100
Fees: 4.9
Assets available: 4.9
Total Fees: 0.9 pip
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 are available with demo account
- Unlimited demo account (never expires)
- Real time market data available for all trading instruments
Cons
- Only Forex and CFDs available for paper trading
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
How Do We Choose Best Paper Trading Platforms in UAE?
To find the overall best trading platforms for paper trading in UAE we assessed a database of 105 online brokers that offer demo account options and compared them across 10 different categories. The categories used for paper trading are: research & education, assets available, copy trading, customer support, platforms, costs, withdrawal & deposit, regulation, mobile apps, and islamic accounts.
- Research & education: Paper trading is risky, like any kind of trading. Make sure your broker has educational resources to support you, and also easy access to market data.
- Customer support: Your broker should have 24/7 customer support in a way that works for you. Ensure that the broker you choose speaks your language.
- Social/copy trading: Social and copy trading helps new traders get up to speed, and make profits. Look for social and copy trading trading platforms your broker offers.
- Assets: Traders need to have access to a range of assets for paper trading. The assets your broker offers should include: ETFs, stocks, mutual funds, bonds, commodities, futures, forex, indices, and cryptos.
- Mobile Trading: Mobile trading is a great way to paper trade on the go, so make sure that your broker offers a mobile trading platform that works with iOS and Android.
- Fees: Trading fees impact profits, and some brokers offer 0% trading fees. Be sure to understand the fee structure before you start trading.
- Trading platforms: Trading platforms are where you make trades, and you need to understand the platform before you put your money to work.
- Deposit & Withdrawal: Don’t pay extra to make deposits and withdrawals with your broker. Make sure the broker you choose has payment methods that you like.
- Regulation: Only paper trade with brokers regulated by the FCA, CySEC, and ASIC. Don’t bother with brokers that don’t measure up.
*Islamic Accounts: Paper traders in the UAE should use brokers that comply with Sharia law. This guide will tell you which broker is best for your investment goals.
The table below offers detailed insight of how each of the best paper trading brokers for UAE performs in each of the categories tested:
Paper Trading Brokers Compared
| Broker | Trading instruments | Trading platform | Quality of service | Paper Trading Service features | Overall Paper trading |
| TradeStation | 5.0 | 5.0 | 4.8 | 5.0 | 5.0 |
| Interactive Brokers | 5.0 | 5.0 | 5.0 | 4.8 | 4.9 |
| Capital.com | 4.4 | 4.8 | 4.7 | 4.8 | 4.8 |
| eTorro | 4.5 | 4.0 | 4.6 | 4.6 | 4.6 |
| Ava Trade | 4.0 | 4.6 | 4.6 | 4.5 | 4.5 |
What Is Paper Trading?
Paper trading means taking paper and creating imaginary positions before you trade in the options market. Options are risky, and the amount of money at risk will affect your financial future. Because options trading is risky, paper traders use paper, or a spreadsheet, to work out strategies before they put capital at risk.
What Are The Advantages and Disadvantages of Paper Trading?
Paper trading is a way to work out strategies in the options market, so it doesn’t have any downsides, besides the fact it will never make profits or losses.
Is Paper Trading the Right Thing for You?
Paper trading is a good way to learn more about how options work without putting any capital at risk. If you want to work out how options trading works before making real trades, paper trading is perfect.
Which Markets are Available for Paper Trading?
Using paper trading in any market makes sense, but professional traders use paper trading for options trading. You can use paper trading for stocks, bonds, ETFs, commodities, or any other complex market.
Final Verdict
After analysing 105 online brokers that offer paper trading to UAE citizens and comparing their brokerage services across 9 major categories, we consider Interactive Brokers as the best paper trading platform in UAE. They offer paper trading accounts with the same features as regular accounts, 1Million in virtual money and access to 130 different markets worldwide.
FAQ
Is paper trading dangerous?
Paper trading is hypothetical trading, so you can’t lose any money. The paper trades you make lead to real trading, which carries the risk of loss.
What markets can I paper trade?
Paper trading applies to any market, but traders use paper trading in options and futures.
Are options profitable?
Options are profitable, but the risk of loss is high, as they aren’t long-term trading instruments.
Do brokers have paper trading tools?
Brokers offer backtesting tools, which can help you test strategies before you use them in the market.
Disclaimer
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.