Top 6 best paper trading platforms in Europe
Best paper trading platforms in Europe - RoboForex
Top paper trading platforms in Europe:
Roboforex - Best for Stocks trading
eToro - Best for beginners
Degiro - Best for Free Stock Trading
Interactive brokers - Best for International Markets
SpeedTrader - Best for proprietary trading
Infinity Futures - Best for scalping strategies
This article is perfect for anyone interested in exploring Europe paper trading structures to learn how to make the best trades off the market. In addition, intermediate traders can also add to their wealth of experience and knowledge a number of the most underrated paper trading apps in Europe too.
Start trading stocks now with eToro!What is Paper Trading?
The concept of paper trading allows anyone to practice the buying and selling of selected stocks in a pseudo or close–to–demo account where the risk of losses is zero. It allows traders to gain experience in how a real market operates. While working on the best paper trading platform that would be suggested in this article, a lot of knowledge could be harnessed without making an actual loss – because it does not cost actual money to start trading.
Top 6 paper trading apps in Europe
| Best for | Trial period | Market | Virtual limit | ||
|---|---|---|---|---|---|
Copy Trading, novices |
Not limited |
Forex (currency pairs), ETFs, index CFDs, oil CFDs, CFD on European and U.S. stocks, cryptocurrency CFDs, real securities |
Unlimited |
||
eToro Copy Trading, Free US stocks trading, Not limited, US Stocks, Cryptocurrencies, Forex, CFD Unlimited |
Not limited |
US Stocks, Cryptocurrencies, Forex, CFD |
Unlimited |
||
Ultra cheap stock and options trading |
No trial period |
US/EU/UK stocks and options |
€100000 |
||
30+ international stock and derivative markets |
30 days |
US/EU/UK, stocks and options, 30 + other, International stock markets |
$1,000,000 |
||
greater exposure with minimum equity |
14 days |
US stocks, options, bonds & mutual funds |
$50,000 |
||
Algorithmic crypto trading/ Futures |
Unlimited |
Bitcoin, Dash, Ethereum, Litecoin |
Unspecified |
Roboforex
RoboForex is a reliable paper trading platform with a wide selection of trading instruments and an easy-to-use interface. Users may practice trading methods in a variety of marketplaces, including stocks, cryptocurrencies, and FX, using its simulated trading tool.
To assist users in making educated trading decisions, the platform delivers real-time market data, powerful charting tools, and technical indicators.
Furthermore, RoboForex provides extensive teaching materials, making it suited for traders of all skill levels. RoboForex's paper trading tool provides a risk-free environment for polishing your trading abilities, whether you are a newbie trying to learn the basics or an experienced trader exploring new methods.
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 and eToro (UK) is licensed by the British regulator FCA. The broker also has a representative office in Australia and the USA.
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), as well as regulators in the Netherlands: Financial Markets Authority (AFM) and Central Bank (DNB). 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.
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), 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.
SpeedTrader
SpeedTrader is a stock market broker that started operations in 1999 under the brand name Mint Global Markets, Inc. The broker is currently regulated by the Financial Industry Regulatory Authority (FINRA) and is a member of the Securities Investor Protection Corporation (SIPC). SpeedTrader provides online trading platforms with a collection of analytical instruments as well as trading software with direct access to renowned exchanges. The company is headquartered in New York, USA.
Infinity Futures
Infinity Futures is an American broker that specializes in futures and micro-futures trading. The broker is regulated by the US Commodity Futures Trading Commission (CFTC), and there is no cooperation with compensation funds. The company's clients have access to commodity, foreign exchange, energy futures, as well as interest rate futures and stock indices.
How to paper trade in Europe?
Find Regulated Brokers in Europe: The journey of paper trading begins by making the choice of a preferred broker to make use of. We recommend you extensively research this before taking the next step.
Compare Trading Conditions: Excellent options of brokers abound, but it is up to you to detect and select the one(s) that would work best for you. Read through the terms and reviews of each broker on your list and decide which you would be working with.
Open An Account: after deciding on a broker you would be banking on, you want to open an account as soon as possible to start trading. Of course, the journey to becoming an expert trader begins with the first step of getting your account set up.
Test Your Trading Ideas: Believe it or not, learning is continuous, but it is important to begin somewhere – or anywhere; begin by playing around the app and to sting the trading ideas that you have come up with. As you do this diligently, you'll get more skilled, and your strategies will be sharpened better.
What paper trading app in Europe is best for beginners?
We can vouch for eToro as one of the best apps that beginners can opt for to begin the journey of paper trading. More useful is the fact that eToro charges zero fees and makes it easy for beginners to get familiar with multi markets.
Paper trading in Europe – top pros and cons
The Pros of paper trading in Europe include the following:
Zero risks: the most dreaded fear of most traders – especially newbies – is the risk of losing it all! Thankfully, that does not have to be the case with the use of paper trading. The market is only a simulated version of the real deal, and you can get to buy and sell with a very objective approach.
Beginner–friendly: paper trading presents a splendid opportunity for beginners to have the closest possible experience to trading a real market as much as possible. There are many tactics, tips, and tricks that could be learned on the way by engaging in paper trading.
Self-paced learning: the absence of pressure in paper trading creates an avenue for traders to learn the ways of the market at their own pace. Also, the process of developing strategies and personal tactics can be developed carefully and gradually as the trader plays around the market.
Data collation: Data is king when it comes to trading. More precisely, traders get to be more aware of all the critical performance indicators related to their trading strategies so as to know how to channel more intentionality toward their weak areas. Indicators like win-to-loss ratios, percentage errors, percentage successful strategies, etc., can all be compiled by a trader for self – reassessment over time. This is made possible without the risk of losing money, thanks to paper trading.
Practicing unto perfection: Nothing provides a clean slate to start over from, like paper trading. Traders can develop themselves well enough for the real market by constantly looking into paper trading. As long as enough discipline is deployed, there’s no limit to the gains of paper trading.
The two major cons of paper trading are:
Occasional data lagging: Because it is not the real market, paper trading platforms tend to lag in delivering data to the trader. Other times, it could present a fake perspective of the market, which may hinder the implementation of qualitative trading strategies.
Self-deceit: The knowledge of zero risk of losses plays a disadvantageous trick on the mind of the trader, who, in turn, places trades that would be rather unhealthy in the real marketplace. This creates an unrealistic kind of knowledge for the trader. At the end of the day, paper trading can’t be totally compared to trading in the real market.
Who Should Try Paper Trading?
Paper trading is a strong instrument that can assist anybody with an interest in the financial markets, not only seasoned investors or those pursuing a career in finance.
Paper trading has so much to offer whether you're an inquisitive novice, a dedicated learner, or a seasoned master wanting to explore new tactics. Here’s a breakdown of how paper trading can benefit you.
New Traders
Paper trading is a wonderful choice for inexperienced traders who are just getting started in the market. It helps users to become acquainted with the trading platform, comprehend how different markets operate, and practice making deals. Paper trading allows inexperienced traders to build confidence and a basic grasp of trading principles and methods without risking real money.
Those With No Options Experience
Paper trading is a great tool for people who have little to no expertise with options trading. Users may learn how options contracts work, estimate possible risks and benefits, and acquire hands-on experience by simulating trades and experimenting with different options strategies before engaging in actual options trading.
Experienced Options Traders
Even experienced options traders might profit from paper trading. It enables users to experiment with new techniques, investigate different market circumstances, and fine-tune their trading strategies. Experimenting with complex options strategies on paper allows experienced options traders to examine their efficacy and change their trading tactics based on the results.
Is Paper Trading A Good Way To Learn?
Absolutely, paper trading is a great way to learn how to trade. Here are a few reasons why:
Risk-Free Environment
Paper trading offers a risk-free environment for both rookie and expert traders. It enables users to test their trading techniques, explore new markets, and learn from their errors without risking any money. This allows traders to gain confidence and lay a strong basis before moving on to actual trading.
Real-Time Market Simulation
Paper trading platforms provide consumers with real-time market data, allowing them to see market changes and price movements. Traders may get significant insights into how markets operate and learn to make educated decisions based on shifting market dynamics by practicing in a simulated environment that simulates real market circumstances.
Strategy Development And Testing
Paper trading allows traders to create and test trading techniques without putting their money at risk. Traders may try out alternative tactics, analyze their results, and make modifications as needed. This iterative approach allows traders to enhance their decision-making abilities and modify their tactics over time.
Summary
Paper trading is nothing like the real trading ‘battlefield.’ However, it is best for beginning traders to make the most use of this opportunity to guard themselves with enough knowledge on trading before hitting the real market.
With paper trading, a beginner can build good tenacity before trading with real money, but before then, this journey can only be enjoyed (or endured) if it is taken one step at a time.
FAQ
What is the best trading platform in Europe for beginners?
eToro is the best trading platform in Europe for beginners. It provides a psychological feeling of being tutored by a virtual mentor. With eToro, beginners can practice copy trading and document their progress.
Is paper trading a good way to learn stocks?
Any disciplined beginner can seize the opportunity of paper trading to learn stocks. It comes with no risk of losses and a simulated version of the market, which beginner–level traders can relate with well enough.
Can you make money from paper trading?
It is not possible to make real money from paper trading. The market is only simulated, and there are no financial commitments made from any party
Which is the best site for paper trading?
Many sites are out there for paper trading, but the best are eToro, Degiro, and others.
Where can I paper trade for free?
You can paper trade for free on Robinhood and Ally invest apps. Asides from these, most paper trading platforms offer a limited period of free access to their services.
Team that worked on the article
Oleg Tkachenko is an economic analyst and risk manager having more than 14 years of experience in working with systemically important banks, investment companies, and analytical platforms. He has been a Traders Union analyst since 2018. His primary specialties are analysis and prediction of price tendencies in the Forex, stock, commodity, and cryptocurrency markets, as well as the development of trading strategies and individual risk management systems. He also analyzes nonstandard investing markets and studies trading psychology.
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.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.