Many traders in Ghana use mobile apps to trade. Many brokers operate in this country, each offering their own platform. Before making a choice, it is important to evaluate apps to find the one that perfectly suits your goals and strategy. TU analysts compared Top 5 mobile apps. You will be able to choose the Best Paper Trading App in Ghana for 2024, based on our assessments.
eToro is an international broker for trading and investing in assets, copying trades of experienced market players and earning income on offering your own successful strategy. The activities of eToro are controlled by European financial regulators: CySEC and FCA. The broker offers its clients the opportunity to trade indices with a maximum leverage of 1:20 and ETF instruments with a leverage of 1:5. Size of leverage in eToro can also vary depending on the regulation of the division of the broker you work with.
Revolut provides its clients access to shares of international and American companies, cryptocurrencies, and metals. For investors, Revolut offers a social trading program. Revolut's copy trading platform is trendy among investors because it has a forum for traders to communicate with each other in real-time. Also, various charts and indicators are available in the Revolut trading platform for technical analysis. Revolut is a company actively developing and plans to make all of its services available to foreign citizens. Fractional share trading offered by the broker allows beginners to learn trading without high financial risks.
TD Ameritrade is a broker with a wide range of investment assets and high-quality trading platforms, which is mainly aimed at seasoned US-based traders.
The ARMO broker is suitable for traders and investors with different trading styles. However, the services range of the company does not include the possibility of earning passive income. ARMO is designed for cooperation with active market participants and provides services to professional and novice traders alike, regardless of the country of residence.
ADMIS is a professional trading broker that offers futures and options trading on the major US and global exchanges.
1
Best Paper Apps in Ghana - eToro
The eToro broker was founded in 2007. The company promotes itself as a social trading platform working with traders from over 140 countries. The broker has several divisions operating under different jurisdictions and licensed by different regulators. For example, eToro (Europe) is licensed by the Cypriot regulator CySEC (109/10) and eToro (UK) is licensed by the British regulator FCA (583263). The broker also has a representative office in Australia and the USA.
👍 Advantages of trading with eToro for traders in Ghana:
•High level of reliability ensured by the licenses of respected regulatory authorities and participation in the compensation funds.
•Wide selection of assets quoted at stock exchanges in the UK, U.S., Australia and Asia.
•An opportunity to combine active trading with social trading and passive investing.
•Zero-fee trading of a number of stocks.
•Access to ready-made diversified asset portfolios with various risk levels.
•Provision of leverage, educational materials on various markets and user-friendly trading platforms that can run on any device.
•Zero fees for portfolio management, depositing funds and account maintenance.
👎 Disadvantages of eToro for traders in Ghana:
•High minimum deposit for users of a number of countries.
•No live chat on the website for quick connection to customer support.
2
Best Paper Apps in Ghana - Revolut
Revolut is a British fintech company that has been providing investors with accounts for trading precious metals, cryptocurrencies, and stocks listed on U.S. exchanges since 2015. The broker offers its clients access to investing in stocks and ETFs on European stock exchanges. For organizations and private clients, the company offers a multi-currency account with the possibility of exchanging currencies at the current inter-bank exchange rate. Revolut is supervised by the Financial Services Authority (FSA).
👍 Advantages of trading with Revolut for traders in Ghana:
•In addition to stock trades, customers can trade cryptocurrencies and precious metals.
•The broker offers commission-free trading plans.
•The minimum number of shares to buy is 0.00000001.
•There are no minimum deposit requirements.
•Social trading is available, which allows newcomers to the stock market to copy trades of successful traders.
•Communication with the support service via chat is available in the mobile application 24 hours a day.
•There is no fee for opening and maintaining a trading account.
👎 Disadvantages of Revolut for traders in Ghana:
•Stock trading is currently only available to UK residents.
•Operations in precious metals and cryptocurrencies are not regulated by supervisory authorities.
•The company does not offer fiduciary management of its investment portfolio.
3
Best Paper Apps in Ghana - TD Ameritrade
TD Ameritrade is an American broker that provides top-notch online services for trading and investing in securities on the OTC markets. The company was founded in 1975 under the name First Omaha Securities. It was reimagined as an online broker in 1998. TD Ameritrade is a member of FINRA (CRD#: 7870/SEC#: 801-60469,8-23395 ) and SIPC and currently serves over 11 million client accounts. The broker offers simple pricing, high-tech trading platforms with professional analytics, and a wide range of markets and investment products. TD Ameritrade was named Best Online Broker 2020 by StockBrokers.com and ranked first in the Platforms & Tools, Beginners, Education, and Customer Service categories.
👍 Advantages of trading with TD Ameritrade for traders in Ghana:
•The broker's regulators are FINRA and SIPC, which guarantee the protection of client funds and their return in the event of TD Ameritrade's bankruptcy or other default.
•Clients have open access to the securities market, OTC, derivatives trading, and legal work with Forex instruments.
•The broker offers a vast array of investment products for generating passive income.
•The company does not charge fees for trading in American and Canadian stocks, options, and ETFs.
•There are no requirements for the size of the minimum deposit on cash accounts.
•The broker offers high-tech author's terminals that work from desktop or mobile device.
👎 Disadvantages of TD Ameritrade for traders in Ghana:
•A high entry threshold has been set for margin trading and investment in managed portfolios.
•The broker offers a limited selection of payment systems for deposits and withdrawals.
•There is no online chat on the company's website. It is available only in some versions of trading platforms.
4
Best Paper Apps in Ghana - ARMO Broker
ARMO is a stockbroker based in Germany that provides financial services internationally. The conditions of the company are suitable for traders and investors with any level of knowledge in stock market trading, and it also provides access to a training center. There are no investment offers or methods to get passive income at the ARMO broker; therefore, the broker cooperates exclusively with active market participants only. Among the trading instruments at ARMO are stocks, options, futures, bonds, exchange-traded funds, CFDs, and Forex. In total, the company has over a million assets.
👍 Advantages of trading with ARMO Broker for traders in Ghana:
•The broker provides a free demo account.
•ARMO customers can open a multi-currency account.
•The company provides training materials for beginners and professional traders.
•It protects client capital.
•ARMO clients have access to a wide range of trading instruments.
•There is no commission for non-trading activities.
👎 Disadvantages of ARMO Broker for traders in Ghana:
•High level of minimum deposit.
•The company does not provide programs and services to receive passive income.
•There are few ways to replenish the deposit and withdraw funds.
5
Best Paper Apps in Ghana - ADMIS
ADM Investor Services — ADMIS — is an American Futures Commission Merchant (FCM) broker that provides execution and clearing services for trading futures and options contracts. In 1966, the company became a member of the Chicago Chamber of Commerce. ADMIS in the United States is regulated by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA 0000360). Five subsidiaries in Asia and Europe, as well as ADM Investor Services representative brokers, serve traders around the world.
👍 Advantages of trading with ADMIS for traders in Ghana:
•The excellent reputation of the company in the USA and globally.
•A wide range of futures contracts in various industries.
•Membership in all major American and international futures exchanges.
•The company is officially regulated by US government commissions.
•The presence of an extensive network of representative brokers and subsidiaries, that gives the possibility to cooperate with ADMIS not only for residents of the United States.
•Free provision of in-depth analytics and high-quality research of the futures markets.
•The company offers many trading platforms that support professional analysis tools.
👎 Disadvantages of ADMIS for traders in Ghana:
•Strict requirements regarding the minimal deposit.
•Additional non-trading commissions for the deposit and withdrawal of funds and the software provided.
•Absence of training, online chat, and demo accounts.
Best Paper Trading App in Ghana 2024: Education for Investors
When choosing the app, it is important to consider educational tools offered by brokers. TU analysts prepared a comparison of educational programs.
eToro - Education for Investors
Investment Education Online
eToro pays special attention to the education of traders. The broker’s website features information about what copy trading, leverage and margin are. There are also descriptions of how to buy and sell various types of financial instruments.
Upon completion of registration, any trader can create a free demo account with a virtual deposit of $100,000 and practice trading in an entirely risk-free environment.
Revolut - Education for Investors
Investment Education Online
Revolut doesn't offer training programs on the basics of stock trading. But the company's site has a blog section, which contains articles and videos with investment tips from Revolut experts and a description of the nuances of stock trading.
The information presented in the Blog section can be useful not only for beginners but also for professional investors.
TD Ameritrade - Education for Investors
Investment Education Online
The broker's website has an extensive section on training. Here, a novice trader will find information on the basics of trading in the stock and OTC market, as well as news, useful articles, and a detailed analysis of trading and investment accounts.
Traders can solidify theory into practice by opening and practicing on a demo account on the Thinkorswim platform.
ARMO Broker - Education for Investors
Investment Education Online
The ARMO broker provides services for active traders. Therefore, the company offers a section with training materials, thanks to which professionals can develop professional skills, and novice players can learn to trade in stock and other markets.
ARMO Broker’s clients can test their knowledge of trading various assets, as well as test new trading strategies on a virtual demo account. It eliminates financial risks, but it is also impossible to make money on such an account.
ADMIS - Education for Investors
Investment Education Online
There is no training section on the ADM Investor Services website. The broker is focused on professional market participants, so it is keen on providing quality analytics and market data, rather than educating newbies. Novice investors may find useful the information presented in the Special Offers block of the Market Information section.
Demo accounts are not available to the company’s clients, but everyone has the opportunity to request a demonstration of trading terminals to get acquainted with their selected interface.
Summary
In this review, you had an opportunity to learn about the features of 5 brokers, which traders in Ghana choose the most. However, now you need to choose the best of them. You can do it using the scores given by the Traders Union. Check out the score table that will help you choose the Best Paper Trading App in Ghana 2024.
| eToro | Revolut | TD Ameritrade | ARMO Broker | ADMIS | |
|---|---|---|---|---|---|
|
Overall score |
9.4 |
9.5 |
8.1 |
5.7 |
5.5 |
|
Execution of orders |
9.1 |
9.2 |
7.8 |
5.49 |
5.29 |
|
Investment instruments |
9.7 |
9.8 |
8.4 |
5.91 |
5.71 |
|
Withdrawal speed |
9.5 |
9.6 |
8.2 |
5.55 |
5.35 |
|
Customer Support work |
9.3 |
9.4 |
8 |
5.85 |
5.65 |
|
Variety of instruments |
9 |
9.1 |
7.7 |
5.33 |
5.13 |
|
Trading platform |
9.8 |
9.9 |
8.5 |
6.07 |
5.87 |
|
|
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|
|
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FAQ
Do all brokers offer mobile apps for iOS and Android?
Unfortunately no. Some companies focus only on one operating system. Before opening an account make sure that the broker offers the version for your operating system.
Do I need to pay for downloading the app?
Brokers do not charge a fee for downloading their mobile app. They are provided for free.
Can a platform function less effectively in the app than in the web version?
The platforms of reliable brokers with good apps work as smoothly as the web version. Therefore, there are almost no instances when the app runs poorly and the web version runs well. That may happen only in case of technical failures, which also happen rarely if the app is good.
If I remove the app from my phone and then reinstall it, will I lose the information?
No. The information is stored in the user account on the server. You will need to enter your username and password, pass two-factor authentication (if applicable) and you will have full access to your information.
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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.