Best Paper Trading Platforms in UAE & Dubai 2022 (UPDATED)

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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 2022 – List

  • Interactive Brokers – Best For Stocks & ETFs
  • TradeStation – Best For Active Traders and For Future
  • Capital.com – Best For Mobile Trading
  • eToro – Best For Beginners And For Cryptocurrency
  • AVA Trade – Best For Forex & CFDs
RANKBROKERGENERALPLATFORM SCOREVIRTUAL MONEYAVAILABLE MARKETSWEBSITE
#1Interactive BrokersVery competitive trading fees4.9 / 5$1MMStocks, ETFs, Options, Forex, Cryptos, Bonds, Commodities, Index Funds
Official website
#2TradeStationVery good customer support3.7 / 5UnlimitedStocks, ETFs, Options, Cryptos, Bonds, Futures, CommoditiesOfficial website
#3Capital.comGood option for all types of traders4.7 / 5UnlimitedForex, Cryptos, CFDsOfficial website
#4eToroGreat Social trading service4.9 / 5$100,000Stocks, Forex, Commodities, ETFs, Indices, CryptoOfficial website
#5AVA TradeGood social trading options4.8 / 5$100,000Stocks, Indices, Options, Forex, ETFs, Bonds, Commodities,Official website

Our Top 5 Paper trading Platforms Reviewed

01. Interactive Brokers: Best For Stocks & ETFs

interactive-brokers-rating

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:

  • Best market coverage in the industry (100k+ assets on different instruments)
  • Access to 16,500 shares and 8,000 stocks as CFDs
  • Professional trading platform suitable for different types of traders
  • Intuitive and easy to use mobile trading app
  • Industry leading fee structure
  • Compatible features for casual and professional traders
  • Responsive customer support

Cons:

  • Few deposit and withdrawal options
  • Research and education materials missing

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

02. TradeStation: Best For Active Traders and For Future

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:

  • Great choice of trading instruments offered
  • Great mobile trading platform
  • Very professional trading platform

Cons:

  • Research and education section could be better

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

03. Capital.com: Best For Mobile Trading

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:

  • Newsroom grade educational videos and analysis
  • Award winning education and research section
  • New age mobile trading app
  • Real time market updates and price alerts
  • Hedging and risk management tools

Cons:

  • MT4 and MT5 not available
  • Market access is industry average

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

04. eToro: Best For Beginners And For Cryptocurrency

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.

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:

  • Access to over 4000+ tradable symbols
  • Great overall market coverage
  • Easy to use mobile trading app and platforms
  • Industry leading social/copy trading app
  • Great cryptocurrency trading features
  • Responsive customer support

Cons:

  • Algorithmic trading not available
  • Forex and CFD fees above industry average
  • Education and research tools missing

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. AVA Trade: Best For Forex & 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:

  • Great Research and Educational tools
  • Great Customer support
  • Good choice of social trading options

Cons:

  • Comparing others relatively few trading instruments are offered;  offers Forex, CFDs and Binary Options

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:

BrokerTrading instrumentsTrading platformCustomer supportTrading conditionsOverall 
Interactive Brokers5.05.04.55.05.0
Trade Station5.05.04.74.34.9
Capital.com4.44.85.04.64.8
eToro4.54.05.04.04.6
Ava Trade4.04.64.54.24.5

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 offers paper trading accounts with the same features as the regular accounts, 1Million in virtual money and access to 130 different markets world wide.

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.


Methodology 

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also 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 providers 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.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.

Disclosure

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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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.