Many traders in Sweden 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 Sweden 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.
DEGIRO has a high reputation and is a trusted broker for stocks, bonds, funds, options, and ETFs. DEGIRO provides its clients access to more than four world's largest stock exchanges. Trading is carried out through a convenient platform that allows you to track the quotes of the trading instruments you are interested in real-time. Commission fees in DEGIRO are low compared to competitors. DEGIRO is a regulated broker suitable for experienced and professional traders in the Eurozone who prefer to invest in stock market assets.
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 Investor is equally targeted at the beginners and professional investors, which is why you don’t necessarily have to have stock trading experience in order to work with the broker.
The Vanguard broker is aimed at investors with long-term strategies, not active traders.
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Best Paper Apps in Sweden - 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 Sweden:
•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 Sweden:
•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 Sweden - DEGIRO
DEGIRO is a Dutch investment company operating since 2008. The broker has been providing online services since 2013. Today DEGIRO is headquartered in Amsterdam and has offices in 18 European countries. Its activities are controlled by the Financial Conduct Authority (FCA, 574048), as well as regulators in the Netherlands: Financial Markets Authority (AFM, 12048408) and Central Bank (DNB, R128868). DEGIRO was awarded over 86 international awards: financial publications of Germany, France, Denmark, and the Netherlands have repeatedly recognized the company as the best stock market broker. How to open a DEGIRO account
👍 Advantages of trading with DEGIRO for traders in Sweden:
•Low brokerage fees for trading stock market assets;
•The ability to open transactions on European and American exchanges;
•Simple trading platform functionality.
👎 Disadvantages of DEGIRO for traders in Sweden:
•There is no online chat on the company's website.
3
Best Paper Apps in Sweden - 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 Sweden:
•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 Sweden:
•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.
4
Best Paper Apps in Sweden - Interactive Investor
Interactive Investor (II Investor) is a private brokerage limited liability company founded in 1995. The controlling share package in Interactive Investor is owned by the top British investment company JC Flowers & Co. The broker is 100% financed by its own capital with no outside debt. The broker is controlled by the Financial Conduct Authority (FCA) and Financial Services Compensation Scheme (FSCS). Interactive Investor is headquartered in Manchester, UK. In 2021, the broker received the Best Low Cost Stock Broker award at the ADVFN International Financial Awards.
👍 Advantages of trading with Interactive Investor for traders in Sweden:
•No minimum deposit requirement on all investment accounts.
•An opportunity to reduce trading commissions as much as possible.
•Wide range of assets to invest in.
•Secure mobile app with facial recognition feature.
•Investment account with tax preferences up to 100%.
•Fixed commissions on trading stocks, ETFs and bonds.
•Withdrawal via the mobile app.
👎 Disadvantages of Interactive Investor for traders in Sweden:
•No stationary trading platform.
•The broker does not provide access to trading cryptocurrencies, derivative financial instruments and fractional stocks.
•The official website does not have an online chat.
5
Best Paper Apps in Sweden - Vanguard
Vanguard is a large investment holding company founded back in 1975. Its clients can invest in stocks, bonds, certificates, options, as well as exchange and investment funds of Vanguard and third-party companies. Private and institutional investors have access to financial planning advice, wealth management services, and retirement and savings accounts for education and tuition. Currently, more than 30 million clients from the United States and 23 other countries invest in stock market assets through Vanguard.
👍 Advantages of trading with Vanguard for traders in Sweden:
•No minimum deposit on investment and retirement accounts.
•Low fees for mutual funds, zero fees for trading stocks and ETFs.
•FINRA regulation and participation in the SIPC insurance fund.
•The ability to trade with margin using funds borrowed from a broker.
•Broad geography of services because all investment products and services are available not only to US tax residents but also to traders from Europe and Asia.
•Availability of accounts for investment and financial planning with tax incentives.
•Top-notch tutorials for beginners and cutting-edge research tools for seasoned investors.
👎 Disadvantages of Vanguard for traders in Sweden:
•Options fees are far cry from the lowest among US brokers.
•There is no online chat or chatbot on the official website. Also, no email is specified for sending emails.
•Clients do not have access to any bonuses and partner rewards.
Best Paper Trading App in Sweden 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.
DEGIRO - Education for Investors
Investment Education Online
An extensive “KNOWLEDGE” section has been created on the DEGIRO website to help novice investors. It is full information about the basics of trading in the stock market, various types of analysis and charts of the world's stock exchanges.
The broker doesn’t offer a demo account, since theoretical knowledge can be immediately applied in the real market.
Can you learn trading with DEGIRO?
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 Investor - Education for Investors
Investment Education Online
The broker does not provide courses on stock market trading basics, but it does feature a Help and Learning section on its website with descriptions of trading strategies and methods of work with different financial instruments.
In order to learn trading without the risk of losing your own money, you test your strategy on a demo account.
Vanguard - Education for Investors
Investment Education Online
Vanguard has an Investor Education section that provides information on the basics of investing. Podcasts, research, and articles on securities trading, retirement, and financial planning can be found in the News and Perspectives section. Most of the tutorials are articles, but the site also has video tutorials.
In the Investor Education section, there is not only information for beginners, but also in-depth expert analysis and economic research for advanced traders.
Summary
In this review, you had an opportunity to learn about the features of 5 brokers, which traders in Sweden 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 Sweden 2024.
| eToro | DEGIRO | Revolut | Interactive Investor | Vanguard | |
|---|---|---|---|---|---|
|
Overall score |
9.4 |
9.6 |
9.5 |
6.85 |
6.8 |
|
Execution of orders |
9.1 |
9.3 |
9.2 |
6.64 |
6.59 |
|
Investment instruments |
9.7 |
9.9 |
9.8 |
7.06 |
7.01 |
|
Withdrawal speed |
9.5 |
9.7 |
9.6 |
6.7 |
6.65 |
|
Customer Support work |
9.3 |
9.5 |
9.4 |
7 |
6.95 |
|
Variety of instruments |
9 |
9.2 |
9.1 |
6.48 |
6.43 |
|
Trading platform |
9.8 |
10 |
9.9 |
7.22 |
7.17 |
|
|
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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.
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.
How are the apps protected against unauthorized access?
As a rule, in addition to the username and password, other security measures apply, for example two-factor authentication. In this case, you will need to enter a unique code to access your account.
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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.