Many traders in Pakistan 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 Pakistan for 2024, based on our assessments.
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.
Interactive Brokers is a reliable brokerage company that is popular with traders from all over the world. Interactive Brokers offers its clients an author's web terminal as a trading platform with a convenient and understandable interface - the "Client Portal." In addition, the company has an IBKR API available for developing custom software. Interactive Brokers also has investment programs. Currency pairs, metals, stocks, indices, and several other stock market instruments are available to clients as trading instruments. The company accepts clients from the USA. Interactive Brokers offer better conditions to professionals and are not focused on novice traders.
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 ChoiceTrade broker is aimed at cooperating with users who already have experience in trading on Forex and other exchanges and does not offer the most favorable conditions for beginners. The company is agog to cooperate with clients from any country, there are no restrictions on trading opportunities or opening accounts.
Easy Equities is a broker for active and passive investors. The company provides optimal conditions for users regardless of their investment experience, and offers access to trading fractional shares and accounts for children under age.
1
Best Paper Apps in Pakistan - 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 Pakistan:
•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 Pakistan:
•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.
2
Best Paper Apps in Pakistan - Interactive Brokers
Interactive Brokers is among the best-known US investment companies, operating since 1977. The broker offers to trade currency pairs, but its basic instruments are stocks, CFD, indices, metals, ETF, futures, and other exchange market assets. The company is regulated by the US Securities and Exchange Commission (SEC), the US Financial Industry Regulatory Authority (FINRA), the UK Financial Regulatory Authority (FCA, 208159), and other international financial regulation commissions. In 2020, the broker was awarded the "Best Online Broker” (Barron's) and "Best Broker for Economical Investments" (NerdWallet) titles and got five stars in the Online Stock Trading for Traders category (Canstar). Also, the broker is popular in other countries. Here you can read reviews of Interactive Brokers in Canada, Singapore, Australia, Hong Kong, Ireland.
👍 Advantages of trading with Interactive Brokers for traders in Pakistan:
•wide range of training materials;
•access to 135 markets in 33 countries;
•a huge subset of trading instruments.
👎 Disadvantages of Interactive Brokers for traders in Pakistan:
•website interface is only partially translated into other languages;
•you have to pay for an inactive account;
•Support service does not work on Saturday and Sunday;
•long and complex registration procedure;
•no cent accounts for novice traders.
3
Best Paper Apps in Pakistan - 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 Pakistan:
•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 Pakistan:
•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 Pakistan - ChoiceTrade
ChoiceTrade is a stockbroker that began providing services in 2000 and has steadily introduced ground-breaking technologies into its work. ChoiceTrade is aimed at working with investors who value order execution speed, a minimalistic approach to trading, and reliability. The broker is regulated by two bodies: FINRA (CRD#: 104021/SEC#: 8-52511) and SIPC. The latter regulator guarantees clients financial payments in case of unforeseen circumstances.
👍 Advantages of trading with ChoiceTrade for traders in Pakistan:
•A vast array of trading accounts for clients with different needs.
•The broker sets the lowest fees for users, regardless of the type of account.
•The broker is focused on cooperation with clients from different countries, the site interface is presented in more than 30 languages.
•Clients' financial assets are protected up to $500,000 by an independent regulatory body.
•Lightning-quick speed of order execution.
👎 Disadvantages of ChoiceTrade for traders in Pakistan:
•The minimum deposit is $100, which is not always within the power of novice traders.
•The broker does not provide clients with training materials for development in the field of trading and investments.
•The company offers only two ways to replenish a trading account and withdraw earned funds; there are no electronic payment systems.
5
Best Paper Apps in Pakistan - Easy Equities
Easy Equities (EasyEquities) is a US stock broker providing financial services in the international market. The company opens access to South African, American and Australian markets and provides an opportunity to trade fractional shares. Investors can choose an individual or corporate account and there are also accounts for children. EasyEquities is a part of two licensed financial services companies — First World Trader and Purple Group.
👍 Advantages of trading with Easy Equities for traders in Pakistan:
•Demo accounts with two base currencies to choose from: USA and ZAR.
•Low trading commissions and zero non-trading fees.
•An account for children under age.
•No required minimum deposit amount.
•A possibility to invest independently or use investment offers of the broker.
•Residents of the majority of countries can open an account with the broker.
•Fractional shares are among trading instruments available to traders.
👎 Disadvantages of Easy Equities for traders in Pakistan:
•Deposit and withdrawal take several days.
•The broker offers very few methods of contacting customer support.
•There is no information about the authorities regulating the operation of Easy Equities.
Best Paper Trading App in Pakistan 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.
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.
Interactive Brokers - Education for Investors
Investment Education Online
Information
Interactive Brokers provides clients with useful information to help novice traders to get Forex training and to help novices and professionals to improve their skills.
We highly recommend you use the IBKR trial version to test your knowledge in practice without financial risk.
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.
ChoiceTrade - Education for Investors
Investment Education Online
The ChoiceTrade company focuses on the development of trading platforms and favorable working conditions for traders and investors. Training materials are not provided by the broker. Answers to the most popular questions among customers can be found in the Support section, and in the FAQs subsection. The broker also enables users to conduct financial research.
ChoiceTrade does not offer its clients a demo account, which would allow them to apply various trading strategies and test their knowledge of trading without financial risks. Transactions can be made exclusively on live trading accounts.
Easy Equities - Education for Investors
Investment Education Online
Easy Equities is a broker that provides investment opportunities to its clients regardless of whether they have experience or not. There is a section on the company’s website featuring educational materials that can help the beginners understand the basics of investing and provide additional information to the more experienced traders.
Users can test new trading strategies and their trading skills on free demo accounts. There are two virtual demo accounts: a USD account with a balance of $10,000, and ZAR account with ZAR 100,000.
Summary
In this review, you had an opportunity to learn about the features of 5 brokers, which traders in Pakistan 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 Pakistan 2024.
| Revolut | Interactive Brokers | TD Ameritrade | ChoiceTrade | Easy Equities | |
|---|---|---|---|---|---|
|
Overall score |
9.5 |
9.1 |
8.1 |
7.7 |
5.65 |
|
Execution of orders |
9.2 |
8.8 |
7.8 |
7.4 |
5.44 |
|
Investment instruments |
9.8 |
9.4 |
8.4 |
8 |
5.86 |
|
Withdrawal speed |
9.6 |
9.2 |
8.2 |
7.8 |
5.5 |
|
Customer Support work |
9.4 |
9 |
8 |
7.6 |
5.8 |
|
Variety of instruments |
9.1 |
8.7 |
7.7 |
7.3 |
5.28 |
|
Trading platform |
9.9 |
9.5 |
8.5 |
8.1 |
6.02 |
|
|
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FAQ
If a broker has several platforms, does it mean it offers several apps?
No. If a broker has several trading platforms, there is either an option to switch between them in the app, or only one trading platform is available (usually the proprietary one).
Are there updates for the apps of brokers?
Yes. Mobile apps of brokers are regularly updated and it is very important to update them in the view of proper operation of services.
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.
Are there versions of the apps for tablets?
In some cases, Forex brokers develop separate versions of apps for smartphones, tablets and even for TV sets.
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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.