Having the Best Paper Trading Brokers for scalping to choose from will help traders achieve their goals more effectively. Traders Union analysts have prepared an article to help you choose the best option. The experts selected 5 companies, compared them between each other and gave scores. Using the results of the analysis, traders can find the information they need about the Best Paper Trading Brokers for scalping in 2024.
1
eOption - Best Paper Trading Broker in 2024
As an eOption client, you can trade options, stocks, listed bonds, fixed income assets, and ETFs. At the same time, the broker is focused on traders who use option strategies. The commission for derivative financial instruments trading is 10 cents per contract and that is lower than its competitors, plus $1.99 per trade. There is no minimum value for US residents to open a cash account. A deposit for international accounts is required from $25,000, and $2,000 for margin accounts. The new account shall be replenished within 60 days from the date of opening, otherwise, the broker may close it.
2
DEGIRO - Best Paper Trading Broker in 2024
DEGIRO is a convenient broker for Europeans. There is no minimum deposit amount, that is why demo accounts have been canceled because even small amounts can be invested. Also, the company doesn’t charge commissions for the lack of activity on the account and its maintenance. An investment account can be opened within 1 day. DEGIRO offers convenient replenishment and withdrawal. The base currency is always the currency of the client's country of residence. How to buy/sell on DEGIRO read here.
Degiro short selling explained
3
Webull - Best Paper Trading Broker in 2024
The Webull broker provides an opportunity to invest in popular stock market assets with zero commission. On November 19, 2020, the company added cryptocurrencies to the instruments available for trading. However, transactions with digital currency can be performed only in the mobile application. This broker allows you to trade with leverage from 1:2 up to 1:4. The amount of the margin depends on the type of trades. The minimum deposit for all types of brokerage accounts starts at $1.
4
Infinity Futures - Best Paper Trading Broker in 2024
Infinity Futures provides to traders optimal conditions for futures trading with different levels of professionalism. The broker offers a choice of accounts with different forms of ownership and several trading platforms. A trading account can be opened by both US residents and residents of other countries. International bank transfers SWIFT and TELEX are available for replenishment of the account. To trade micro futures, a trader needs to replenish an account for $1,000, for standard futures trading, the minimum deposit is $3,000. EUR replenishment is also available.
5
Advantage Futures - Best Paper Trading Broker in 2024
Advantage Futures LLC specializes in futures trading and offers clients from all over the world favorable conditions for trading. The broker provides its clients with direct access to European, American, and international derivatives exchanges, including CME Group, MGEX, Eurex, and others. The minimum fee to start working with a broker is $10,000, regardless of the form of account ownership. There are only two ways to fund your trading account: by bank transfer and by check. A charged fee per contract starts at $0.99 and goes down to $0.07, as the monthly trading volume increases. There are no trading bonuses, as well as contests among traders. Nor is there a welcome bonus.
Best Paper Trading Broker for scalping: Investment Programs
Earning passive income is just as important for traders as earning profit by actively trading. Therefore, it is important to consider investment instruments offered by the company. There are different investment programs and their choice strongly depends on a specific broker. TU analysts have prepared a review of investment programs of the 5 best brokers.
1
eOption - Investment Programs
Investment Programs, Available Markets, and Products of the Broker
The eOption broker is focused on trading options for active traders. The broker offers them the lowest commissions. At the same time, the broker maintains the automatic trading function, which enables the investor to make a profit without making trades on his own.
Auto Trading is an investment solution for generating passive income
Clients who subscribe to Auto Trading services choose one or more among 36 suggested trading signal providers. After that, eOption starts auto-trading to sell or buy securities following the parameters set by the investor. Here are some of the features offered by eOption’s Auto Trading program:
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The broker or other party cannot start, stop or change the auto-trading status. If the subscription period for signals has not expired and there are funds on the account, then the decision to suspend trading shall be made by the investor himself.
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All funds are under your total control. Subscribers can set the maximum trade size based on the USD amount, the number of contracts, the account balance percentage, and can start or stop the service at any time.
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The broker doesn’t charge any auto-trading commissions. However, orders made by the Auto Trade Desk without the investor’s intervention shall be subject to a rate of $2.00 for stocks and $3.99 + 10 cents per contract for options.
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After you open a brokerage account and pass verification, you can connect to the Auto Trading service online.
The eOption broker doesn’t verify, monitor, or evaluate the trading signals supplied, but acts as an executing broker following the specific Auto Trading Service instructions. The investor himself chooses the auto trading concept that is most compatible with his investment strategy.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
Affiliate program from eOption:
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Affiliate program. Here, an affiliate will get up to $100 for each attracted client who has replenished a trading account for $2,000 or more. Also, if the partner's account balance is over $2,000, the client and the referral receive two free BUZZ shares.
Participation in the affiliate program enables eOption clients to get monetary rewards from the company for attracting new users.
2
DEGIRO - Investment Programs
Investment Programs, Available Markets, and Products of the Broker
DEGIRO is an investment company that offers solutions for generating income from operations in the stock market. The broker provides its clients with access to 50 exchanges from Europe, North America, Asia, and Oceania.
DEGIRO’s affiliate program:
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"Online Partner" is a program for website owners, bloggers, and publishers, which offers remuneration for information about DEGIRO promotion.
In addition to commissions, the partner gets a full package of marketing products: individual content, different types of advertising materials, and the personal account manager assistance.
3
Webull - Investment Programs
Investment Programs, Available Markets, and Products of the Broker
Webull enables you to invest free capital in over 5,000 shares, options, ETFs, and ADRs.
ETFs are Webull's popular investment solution
Webull’s clients can diversify their portfolio by choosing ETF trading. The broker provides hot ETF lists and screeners, making it easier for an investor to find promising assets. Features of investments in exchange-traded funds through the Webull intermediary:
An investor can track ETFs according to specified parameters such as industries, countries, or strategies.
Trading is available 24/5 (excluding market holidays).
The broker doesn’t charge ETF trading fees; however, fees are charged by the SEC and FINRA regulators.
You can manage your portfolio from any device.
ETFs are baskets of stocks and bonds that combine the benefits of investment diversification and trading flexibility. ETFs are traded on major exchanges, making them fairly straightforward tools for professionals.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
Webull’s affiliate program:
Referral program. The partner gets 2 free shares that cost from $8 to $1,600 for each connected referral who has replenished the balance for $100 or more within 30 days from the date of opening the account.
Publishing a unique referral link on various sites allows you to get extra income for attracting new clients to the brokerage company.
4
Infinity Futures - Investment Programs
Investment Programs, Available Markets, and Products of the Broker
The Infinity Futures broker is focused on cooperation with active traders, therefore there are no programs for copying trades and automatic trading here. Instead, the company invites customers to select a market data source when registering, including professional sources that provide extensive data without delay.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
Infinity Futures’ affiliate program
Infinity Futures does not offer its clients a referral program through which traders, website owners, or brokerage companies could receive additional income.
5
Advantage Futures - Investment Programs
Investment Programs, Available Markets, and Products of the Broker
Advantage Futures offers optimal trading conditions for active futures traders. For this reason, services for copying transactions, trading robots, other methods of automatic trading, and receiving passive income are not available for traders here.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
Affiliate program from Advantage Futures:
There is also no opportunity to generate income for referring new clients to Advantage Futures LLC. Instead, the broker provides traders with the opportunity to open a special trading account —called Introduced Account. Thus, the account holder becomes an intermediary to the broker, gets the right to provide financial services, and receives interest for his activities.
Summary
Choosing a good broker for scalping is not a simple task. To make it easier, TU experts have prepared this review. Based on the collected information, we have given scores to each company. In the Overall score table, you will learn about the best Paper Trading Broker for scalping in 2024, and also advantages and disadvantages of its closest competitors.
Overall score of the best Paper Trading Brokers for scalping
| eOption | DEGIRO | Webull | Infinity Futures | Advantage Futures | |
|---|---|---|---|---|---|
|
Overall score |
9.3 |
9.6 |
8.5 |
7.25 |
7 |
|
Execution of orders |
9 |
9.3 |
8.2 |
7.04 |
6.79 |
|
Investment instruments |
9.6 |
9.9 |
8.8 |
7.46 |
7.21 |
|
Withdrawal speed |
9.4 |
9.7 |
8.6 |
7.1 |
6.85 |
|
Customer Support work |
9.2 |
9.5 |
8.4 |
7.4 |
7.15 |
|
Variety of instruments |
8.9 |
9.2 |
8.1 |
6.88 |
6.63 |
|
Trading platform |
9.7 |
10 |
8.9 |
7.62 |
7.37 |
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FAQ
What is a demo account and why is it important?
On a demo account, you trade by using virtual funds. It is important to choose a broker offering a demo account both for beginners, who are only learning, and for experienced traders, who can use this account type to test new strategies or EAs risk-free.
What are the risks of trading in the financial markets?
Any trading in the financial markets carries risks of losing your money due to asset volatility. Therefore, it is important to develop the rules of risk management in your strategy and strictly follow them.
What learning instruments can a broker offer?
Brokers offer various educational options. These include full-fledged educational courses, or video tutorials, articles, and books. Companies also often hold seminars and webinars.
Does the choice of a beginner differ from the choice of an experienced trader?
Yes. A novice trader should primarily consider the availability of educational tools and a demo account, as well as basic assets. A more experienced trader is interested in wider opportunities on advanced account types, a wider choice of instruments for technical analysis, and a greater number of trading instruments.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.