Many traders in Vietnam 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 Vietnam 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.
E-Trade specializes in e-trading and is primarily focused on working with the American stock market.
J.P. Morgan Self-Directed Investing is a trading and investing broker focused on experienced market participants.
PhillipCapital is a company for those who have fairly large start-up capital and have experience in the stock markets.
1
Best Paper Apps in Vietnam - 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 Vietnam:
•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 Vietnam:
•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 Vietnam - 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 Vietnam:
•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 Vietnam:
•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 Vietnam - ETrade
The Etrade broker is a subsidiary of Morgan Stanley, the financial conglomerate, which has been operating since 1982. Today, E*TRADE is the leading online platform for financial instruments trading on the world's major exchanges. It offers operations with stocks, options, futures, bonds, ETFs, as well as investments in mutual funds. The broker is a member of FINRA (CRD#: 29106/SEC#: 8-44112), SIPC, NFA (0401545), and the FDIC, and provides services according to its license with the SEC, the US Securities and Exchange Commission.
👍 Advantages of trading with ETrade for traders in Vietnam:
•Fully adaptable to e-commerce through its mobile applications.
•No commissions when working with stock options on American exchanges.
•Twenty-four/seven customer support via online chat.
👎 Disadvantages of ETrade for traders in Vietnam:
•The Forex market tools are not available for trading.
•Training is provided in English only,
•Leverage is limited and cannot exceed 50% of the trader's personal funds.
•You cannot open a demo account to test the broker's conditions.
•There is no support, the website is only in English.
4
Best Paper Apps in Vietnam - J.P. Morgan
The J.P. Morgan Self-Directed Investing service is in the brokerage division of JPMorgan Chase & Co Financial Corporation, and it offers investment services through JP Morgan Securities LLC (JPMS). The broker is part of one of the largest and oldest financial services corporations in the United States, with a reputation for transparency, accountability, and reliability. The broker provides services of long-term and retirement investment in securities within the USA market, services of active trading, and portfolio algorithmic investing. Trading assets are stocks of companies, ETF-fund shares, options, securities of retirement and investment funds, treasury notes, bills, US, corporate, and municipal bonds, derivatives, secondary market assets, etc.
👍 Advantages of trading with J.P. Morgan for traders in Vietnam:
•Flexible and clear tariff policy. For private investing the deposit is from $1, for automatic portfolio investing the deposit amount is from $500.
•Strict regulation. The SEC regulates J.P. Morgan Self-Directed Investing, and it is a member of FINRA CRD#: 79/SEC#: 801-3702,8-35008 and SIPC (the investor compensation fund). The broker is also subject to an annual external audit and is controlled by an exchange auditor.
•Offers trading accounts and retirement accounts.
•Automated Investing is an investment option that ensures that an investment portfolio follows the criteria set by the investor. The brokers’ analysts manage the portfolio.
•Additional products. Every broker's client can take advantage of other investment and financial offers from concessional lending to the development of a personal financial plan and trust management services.
👎 Disadvantages of J.P. Morgan for traders in Vietnam:
•The services are only available to U.S. residents. Possible schemes to work through intermediary funds/companies lead to a significant increase in the trade cost.
•Emphasis on financial products. Technological trading tools go into the background.
5
Best Paper Apps in Vietnam - Phillip Capital
Phillip Capital is a broker of PhillipCapital Inc Group, founded in Singapore in 1975. The PhillipCapital subsidiary was established in 2010. Its main office is located in the United States in the Chicago Chamber of Commerce building. Since July 2014, the broker has been regulated by the US Commodity Futures Trading Commission (CFTC) and is also registered with the FINRA (CRD#: 173869/SEC#: 8-69558), SIPC, and the OCC. PhillipCapital provides direct access to the stock market and offers over 2,000 instruments for trading on 30 exchanges in 16 countries. The company also provides a wide range of clearing, financial, and executive services.
👍 Advantages of trading with Phillip Capital for traders in Vietnam:
•No brokerage fees for trading stock market assets.
•Providing access to major American and global exchanges, including CME, EUREX, CBOT, DME, IEX, COMEX, NYMEX, NFX, ICE US, CFE (CBOE), and ICE EU.
•Uses proprietary software.
•Membership in all Asian futures exchanges, which allows traders to expand the list of available trading tools.
•Large selection of supported trading platforms.
•Regulated by CFTC and SEC, membership in FINRA and SIPC.
👎 Disadvantages of Phillip Capital for traders in Vietnam:
•High minimum deposit amount of $5,000.
•Technical support is provided by phone, fax, or email; there is no online chat.
•It does not cooperate with electronic payment systems and charges a commission for withdrawing funds from accounts.
Best Paper Trading App in Vietnam 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.
ETrade - Education for Investors
Investment Education Online
The broker offers a library on the site to introduce the basics of stock trading to novice traders. It provides reviews, analytics, news, expert opinions, and useful tips to improve your trading efficiency.
The broker doesn’t have a demo account, but the knowledge gained academically can only be applied in practice using real assets.
J.P. Morgan - Education for Investors
Investment Education Online
J.P. Morgan Self-Directed Investing is the investment brokerage division of JPMorgan Chase & Co. Therefore, the Financial Education section applies to the entire corporation and contains information not only about trading and investing, but also about personal finance in general.
Phillip Capital - Education for Investors
Investment Education Online
The PhillipCapital website does not provide training, but it does have a newsletter section. Also, useful information can be found in the FAQs section.
A demo account is provided to gain experience without the danger of losing money.
Summary
In this review, you had an opportunity to learn about the features of 5 brokers, which traders in Vietnam 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 Vietnam 2024.
| Revolut | Interactive Brokers | ETrade | J.P. Morgan | Phillip Capital | |
|---|---|---|---|---|---|
|
Overall score |
9.5 |
9.1 |
8.3 |
5.05 |
7.4 |
|
Execution of orders |
9.2 |
8.8 |
8 |
4.84 |
7.19 |
|
Investment instruments |
9.8 |
9.4 |
8.6 |
5.26 |
7.61 |
|
Withdrawal speed |
9.6 |
9.2 |
8.4 |
4.9 |
7.25 |
|
Customer Support work |
9.4 |
9 |
8.2 |
5.2 |
7.55 |
|
Variety of instruments |
9.1 |
8.7 |
7.9 |
4.68 |
7.03 |
|
Trading platform |
9.9 |
9.5 |
8.7 |
5.42 |
7.77 |
|
|
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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.
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.
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.