Page Summary
This guide helps users to find the best trading platforms in UAE with paper trading accounts. Paper trading refers to trading with free accounts (demo accounts, paper accounts) preloaded with virtual money. They allow traders and investors to test their financial strategies to increase chances for financial success. With the variety of online brokers (reliable and non-reliable) that offer paper trading accounts, it can be tough to select the ideal option for individual trading goals.
Skipping research, comparison and grasping of important information on brokers can motivate the trader to pick a platform that lacks in transparency, regulation, availability of assets and trading features.
This guide assess 130 online brokers in UAE offering paper trading accounts. To help users make informed decisions and choose the most suited option for their needs, the best paper trading platforms in UAE are listed, compared and reviewed considering: platforms, assets, fees, research & education, customer support, mobile trading apps, regulation, deposits & withdrawals, and islamic account availability.
5 Best Paper Trading Platforms UAE 2023
- TradeStation – Best Paper Trading service overall
- Interactive Brokers – Best For Stocks & ETFs
- Capital.com – Top For Mobile Trading
- eToro – Ideal For Beginners And For Cryptocurrency
- AVAtrade – Optimal For Forex & CFDs
Top 5 Paper trading Platforms in UAE Reviewed
The top paper trading platforms in UAE are reviewed in more detail below.
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
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.
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
79.17% of retail CFD accounts lose money
4. eToro – Best For Beginners And For Cryptocurrency
Min Deposit: $200
Fees: 4.8
Assets available: 4.8
Total Fees:
77% 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 Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. OTC Derivatives are speculative and leveraged. Not suitable for all investors. See PDS and TMD. Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.
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
77% 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 Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. OTC Derivatives are speculative and leveraged. Not suitable for all investors. See PDS and TMD. Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.
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
71% of retail CFD accounts lose money
How To Find The Optimal Paper Trading Platforms in UAE
Criteria that need to be considered to choose the best suited platforms for paper trading in UAE are listed below.
- 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.
Top Brokers With Paper Trading Accounts Compared
Key features of the highest rated online broker with paper trading accounts are compared in the table below.
| Broker | Available Assets | Virtual Money in Demo Account | Minimum Deposit | Available Trading Platforms | Deposit & Withdrawals | Customer Service | Regulators |
|---|---|---|---|---|---|---|---|
| TradeStation | Stocks, ETFs, Options, Futures, Cryptocurrencies | $200,000 | $2,000 for margin accounts, no minimum for cash accounts | TradeStation 10, Web Trading, Mobile Trading | Wire Transfer, Check, ACH | Phone, Email, Live Chat | FINRA, SIPC |
| Interactive Brokers | Stocks, ETFs, Options, Futures, Forex, Bonds, Mutual Funds, CFDs | $1,000,000 | $0 for IBKR Lite, $2,000 for IBKR Pro | Trader Workstation (TWS), IBKR Mobile, Client Portal | Wire Transfer, Check, ACH | Phone, Email, Live Chat | SEC, FINRA, FCA, and others |
| Capital.com | Forex, Indices, Commodities, Cryptocurrencies, Stocks, ETFs | $100,000 | $20 | Proprietary platform, MetaTrader 4 | Credit/Debit Card, Bank Transfer, Neteller, Skrill, and more | Phone, Email, Live Chat | CySEC, FCA, ASIC, NBRB |
| eToro | Stocks, ETFs, Indices, Commodities, Forex, Cryptocurrencies | $100,000 | $200 | Proprietary platform | Credit/Debit Card, PayPal, Bank Transfer, UnionPay, Neteller, Skrill | Phone, Email, Live Chat, Ticket System | CySEC, FCA, ASIC |
| AVAtrade | Forex, Indices, Stocks, Commodities, Cryptocurrencies, Bonds, ETFs | $100,000 | $100 | MetaTrader 4, MetaTrader 5, AvaTradeGo, AvaOptions | Credit/Debit Card, Wire Transfer, e-payments (e.g., PayPal, WebMoney) | Phone, Email, Live Chat | Central Bank of Ireland, ASIC, FSA, FSCA, ADGM (FRSA), and others |
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.
Conclusion
With the growing number of brokers in UAE offering different platforms and conditions, finding the ideal choice for individual needs can be tough. Reviewing and comparing offers of different providers is essential in the decision-making process but requires time and knowledge.
This guide takes some of the load off your shoulders by evaluating top platforms for different types of traders. The results of our analysis and comparison of the best binary options trading platforms in UAE are wrapped up in the table below.
| RANK | BROKER | PLATFORM SCORE | BEST FOR | WEBSITE |
|---|---|---|---|---|
| #1 | TradeStation | 4,9/5 | Overall | Official website |
| #2 | Interactive Brokers | 4,9/5 | Stocks & ETFs | Official website |
| #3 | Capital.com | 4,8/5 | Mobile Trading | Official website |
| #4 | eToro | 4,9/5 | Beginners And For Cryptocurrency | Official website |
| #5 | AVAtrade | 4,9/5 | Forex & CFDs | Official website |
Based on the findings from our review and comparison, 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
Does paper trading involves any risk?
Paper trading does not involve any risk, as it allows the user to trade with virtual money.
Does paper trading exactly replicates real trading conditions?
Paper trading accounts mirror the real trading environment while allowing the user to trade with virtual money. However, while they can closely mirror the mechanics of real trading, there are certain aspects that cannot be accurately represented. Those include order fills, emotions and market impacts and market conditions.
Do I need to deposit money to access a paper trading account?
Most broker do not require the user to deposit money to get access to their paper trading account. However, users must submit all personal data required by the online broker for account opening.
Are there any limitations on paper trading accounts?
Online brokers have different limitations regarding paper trading accounts. Most brokers limit access to demo account for 30 days and a predetermined amount of money.
What markets can I paper trade?
Paper trading can be used on different assets and markets including stocks, forex, bonds, CFDs, options, futures and other traditional markets.
Do paper trading accounts offer the same trading tools as real trading accounts?
Yes, paper trading account offer access to the same trading tools and strategies that the broker offers on real trading accounts.
Does paper trading involves real money?
No, paper trading is only based on virtual money and does not involve or require real money.
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. 74% 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 does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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.
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.