The 10 Best Platforms for Paper Trading are revealed. We have rated and reviewed the 10 Best Sites, Platforms, Accounts, and apps for Paper trading in 2026* This is a complete listing and review of the 10 Best Platforms for Paper Trading.
- What is the Best Site, Platform, Account, or app for Paper trading?
- Can you paper trade with MetaTrader, Investopedia, and TradingView?
- Are NinjaTrader, eToro, and Interactive Brokers free for Paper Trading?
- Are Webull and TD Ameritrade good for Paper Trading Options?
- What is Paper Trading and How Do You Start?
- Is Paper Trading Good for Beginners, Day Trading, and Making Money?
- Does Forex have Paper Trading, and is it worth it?
10 Best Platforms for Paper Trading - A Comparison
| 🔎 Platform / Provider | 📌 Paper Trading Offered | 🎉 Paper Trade Now! | 5️⃣ Trust Score (5) |
| AvaTrade | Yes | 👉Open Account | 4.8 |
| TD Ameritrade | Yes | 👉Open Account | 4.7 |
| Interactive Brokers | Yes | 👉Open Account | 4.9 |
| eToro | Yes | 👉Open Account | 4.8 |
| Plus500* | Yes | 👉Open Account | 4.9 |
| FXCM | Yes | 👉Open Account | 4.6 |
| NinjaTrader | Yes | 👉Open Account | 4.5 |
| WeBull | Yes | 👉Open Account | 4.2 |
| E*Trade | Yes | 👉Open Account | 4.9 |
| TradeStation | Yes | 👉Open Account | 4.2 |
🏆10 Best Forex Brokers in South Africa
| Rank | Broker | Broker Review | Regulators | Minimum Deposit | Visit Broker |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | $100 | 
|
| 🥈 |  | Read Review | FSCA, FCA, DFSA, FSA, CMA | $0 |
|
| 🥉 |  | Read Review | CySEC, MWALI, FSCA | $25 |
|
| 4 |  | Read Review | ASIC, CySEC, FSA, SCB | $200 |
|
| 5 |  | Read Review | FSA, FSCA | $250 |
|
| 6 |  | Read Review | FSA, FSC, FSCA, ASIC, CMA | $20 |
|
| 7 |  | Read Review | FSC, FSCA | $50 |
|
| 8 |  | Read Review | ASIC, CySEC, FSCA, FSA, FSC, CMA | $100 |
|
| 9 |  | Read Review | ASIC, CySEC, IFSC, DFSA, FCA | $5 |
|
| 10 |  | Read Review | FSA, CySEC, FSCA, FSC | $10 |
|
10 Best Platforms for Paper Trading (2026)
- ☑️ AvaTrade – Overall, The Best Platform for Paper Trading
- ☑️ TD Ameritrade – Leading Platform for Complex Trading Layouts
- ☑️ Interactive Brokers – Popular Choice for Foreign Investing
- ☑️ eToro – Best Platform Choice for Copy Trading
- ☑️ Plus500 - Top CFD Paper Trading App
- ☑️ FXCM – Multiple Trading Assets
- ☑️ NinjaTrader – Free Platform for All Users
- ☑️ Webull – Best User-Friendly Desktop App
- ☑️ E*Trade – Top Choice for New Options Traders
- ☑️ TradeStation – Trusted Paper Trading Source for Professionals
AvaTrade
Overview
| 🔍 Features |  |
| ⚖️ Regulation | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA |
| 🌐 Social Media Platforms | Facebook, X, Instagram, LinkedIn. |
| 🇿🇦 FSCA Regulation | Yes |
| 📊 Trading Accounts | Retail Account Demo account. Islamic ACCOUNT |
| 📊 Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), proprietary AvaTradeGo, WebTrader, copy-trading options |
| 💰 Minimum Deposit | R1800 ZAR / $100 |
| 📊 Trading Assets | Over 1,200 instruments: forex pairs, indices, stocks, commodities, cryptocurrencies, options, ETFs |
| 🇿🇦 ZAR-based Account | Yes |
| 🇿🇦 ZAR Deposits Allowed | Yes |
| 🇿🇦 Bonuses for South African traders | No |
| 📉 Minimum spread | 0.9 pips |
| ⭐ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| 🪙 Crypto Support | Bitcoin CFDs trading and deposits |
| 📝Sign up | 👉Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Wide range of CFDs assets to trade - 1000+ | You can’t buy stock or cryptocurrency |
| Worldwide regulated | Cryptocurrency deposit is not accepted |
| Award winner | Quarterly and annual inactivity fees |
| Multiple platform – MT4, MT5, etc | Costumer support is not available 24/7 |
| Negative balance protection | No bonus for EU based clients |
2. TD Ameritrade
TD Ameritrade is a trusted services provider that offers access to stocks, bonds & CDs, options, Diversified investment choices, Commission-free online trading, and no hidden fees. TD Ameritrade makes Paper Trading available via its renowned app - Thinkorswim. The Thinkorswim app offers access to a wide range of instruments, advanced charting tools, technical indicators, and a variety of order types. The Thinkorswim PaperMoney feature will allow investors to access a simulated account without risking real money.
Overview
| ✅ TD Ameritrade Unique Features | ℹ️ Information |
| ⚖️ Regulation | SEC, SFC, FINRA |
| 🌐 Social Media Platforms | Facebook Twitter LinkedIn YouTube Instagram Telegram |
| 📒 Trading Accounts | Standard Account, Margin Trading Account |
| 📊 Trading Platforms | TD Ameritrade Web TD Ameritrade Mobile thinkorswim mobile thinkorswim Web |
| 💰 Minimum Deposit | None |
| 💱 Trading Assets | Stocks Options ETFs Mutual Funds Futures Forex Bonds Fixed Income Annuities IPOs CDs Cryptocurrency Trading |
| 💲 USD based Account | Yes |
| 💲 USD Deposits Allowed | Yes |
| 💰 Minimum Deposit Bonuses for traders | No |
| 📈 Minimum spread | From 0.0 pips |
| 📒 Demo Account | Yes |
| ☪️ Islamic / Swap-free Account | No |
| 📝Sign up | 👉Open Account |
Pros and Cons
| ✅ Pros | ❎ Cons |
| Well-regulated | Restricted leverage |
| SIPC member | MetaTrader not offered |
| Advanced trading tools provided | Limited funding options |
3. Interactive Brokers
Interactive Brokers offers its services to traders in 200 countries and territories across the globe. Furthermore, Interactive Brokers offers access to multiple account options, powerful trading platforms, and award-winning educational resources. Interactive Brokers offers access to a high-performance paper trading app. The Interactive Brokers Paper Trading App comes packed with advanced order types, real-time market data, customizable charting tools, and in-depth research capabilities.
Overview
| 🔎 Broker | 🥇 Interactive Brokers |
| 💰 Minimum Deposit | $0 USD / R0 ZAR |
| 📒 Demo Account | Yes |
| 👨🏼💼 Managed Accounts | Yes |
| 💳 Deposit Options | Bank Wire Transfer and PayPal |
| 💳 Withdrawal Options | Bank Wire Transfer |
| 🚀 Open an Account | 👉Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Wide range of products | Limited Funding and Withdrawal Options |
| Highly regulated | Best suited to experienced traders |
| Trades on 80+ exchanges | Commission structure benefits high volume trades |
4. eToro
eToro is a global financial services provider that prides itself on empowering its investors. eToro offers access to copy trading, smart portfolios, and top-tier security practices. eToro is one of the most popular choices for paper trading. The eToro Paper Trading app is user-friendly and comes packed with a long list of useful features. eToro allows traders to practice trading in a secure and realistic simulated environment without risk.
Overview
| 🔎 Broker | 🥇 eToro |
| 📌 Regulation | FCA, ASIC, CySEC |
| ☪️ Islamic account | ☑️ Yes |
| 👍 Demo Account | ✅ Yes |
| 📊 Institutional Accounts | No |
| 📊 Managed Accounts | ☑️ Yes |
| 📈 Maximum Leverage | 20:1 |
| 💰 Minimum Deposit | $50 USD |
| 🚀 Open an Account | 👉Click Here |
Pros and Cons
| ✅ Pros | ❎ Cons |
| Used by 6,000,000+ traders | Doesn’t allow scalping |
| Established in 2006 | Inactivity Fee |
| Regulated by FCA, CySEC, and ASIC | Limited range of instruments |
5. Plus500
Plus500 is a global multi-asset fintech group that offers access to global markets, Fast and reliable order execution, plus no commissions and tight spreads. Plus500 offers access to a highly regarded paper trading app. The Plus500 Paper Trading app focuses on providing a simple, intuitive, and user-friendly experience, real-time market data, customizable charting tools, and risk management features.
Overview
| 💴 Trading fees class | Low |
| 🪙 Inactivity fee charged | Yes |
| 💰 Withdrawal fee amount | $0 |
| 💵 Minimum deposit | $100 USD |
| 💹 Number of base currencies | 14 |
| 🆓 Demo Account | Yes |
| 🔎 Open an Account | 👉Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Powerful proprietary trading platform | Only supports CFD trading, investors cannot own the physical shares or assets |
| No commissions and tight spreads | The platform is more suited to experienced traders and investors |
6. FXCM
FXCM is an award-winning, leading provider of online foreign exchange trading, offering access to zero commissions, low spreads, trading solutions, and world-class customer support. The FXCM Paper Trading app is primarily focused on foreign currency trading. The FXCM Paper Trading app offers access to real-time market data, advanced charting tools, and technical indicators.
Overview
| 🔎 Broker | 🥇 FXCM |
| 📝 Regulation | FCA, ASIC, FSCA, CySEC |
| 💰 Min. Deposit | $50 USD / R750.00 ZAR |
| 📈Trading Desk Type | Market Maker |
| 🖱️ Custom Indicators | Yes |
| 💵 Forex Pairs | 42 |
| 💳 Cryptocurrency | None |
| 💻 Trading Platform | Trading Station Desktop, Metatrader 4, Capitalise AI, Tradingview Pro |
| 🔎 Account Types | Standard, Active Trader, Islamic Account, Demo Account |
| 📈 Leverage | 1:30 |
| 📧 Email/SMS Alerts | Yes |
| 📌 1K Micro Lots | Yes |
| ☑️ Forex Pairs | 42 |
| 💳 Commission | Yes |
| 🎉 Claim Bonus | Yes |
| 📱 Web and Mobile | Yes |
| 📊Copy Trading | Yes |
| 👥FXCM’s Rebate Program | Yes |
| 🔘 Tradeable Instruments | 276 |
| ☑️ Account Currency | USD, GBP, EUR |
| 🔥Live support | 5 days a week |
| 🚀 Open an Account | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Easy Account Setup | Limited Product Portfolio |
| Good Technical Tools | High Withdrawal Fees |
7. NinjaTrader
NinjaTraderoffers traders the opportunity to trade in Futures with award-winning trading platforms. NinjaTrader offers access to low margins, Low Commissions, simulated trading, and much more. NinjaTrader makes paper trading available via a Free trading simulator. The NinjaTrader paper trading platform is mainly focused on education and comes packed with useful assets, such as charting tools.
Overview
| 🔎 Broker's Name | 🥇 NinjaTrader |
| 📍 Headquartered | The United States, Denver, Colorado |
| 📅 Year Founded | 2003 |
| ⚖️ Regulating Authorities | The NFA and CFTC |
| 🌐 Countries not accepted for trade | Canada and most African countries |
| ☪️ Islamic Account | None |
| 👍 Demo Account | Yes |
| 📌 Institutional Accounts | Yes |
| 📊 Managed Accounts | Yes |
| 📈 Maximum Leverage | 50:1 |
| 💰 Minimum Deposit | 50 USD |
| 🚀 Open an Account | 👉Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Advanced charting and analysis tools | Steeper learning curve for beginners |
| Competitive commissions with Lifetime license | No standard sign-up bonus |
| Wide range of futures and forex instruments | Limited asset classes (no stocks or crypto) |
| Supports algorithmic and automated trading | Some features locked behind paid licenses |
| Free platform access with funded account | Limited customer support hours |
8. Webull
Webulloffers traders the chance to diversify their portfolio with a comprehensive suite of investment products, including stocks, fractional shares, and options. The Webull Paper Trading platform is best suited to advanced traders as it offers in-depth charting and numerous technical indicators.
Overview
| 🔎 Broker's Name | 🥇 Webull |
| 📍 Headquartered | New York, USA |
| 📅 Year Founded | 2017 |
| ⚖️ Regulating Authorities | SEC, FINRA |
| 🌐 Countries not accepted for trade | N/A |
| ☪️ Islamic account (swap-free) | None |
| 👍 Demo Account | Yes |
| 📊 Institutional Accounts | Yes |
| 📊 Managed Accounts | Yes |
| 🚀 Open an Account | 👉Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| No-fee trading. | The new trading app still developing and adding new features and investments. |
| Offers margin trading, day trading, and short sales. | Limited trading platform that does not accommodate foreign stocks, over-the-counter (OTC) stocks, mutual funds, bonds, options, futures, or Forex. Webull also does not accommodate fractional shares. |
| Designed for experienced traders, particularly those who enjoy technical analysis. | Account types are limited to individual |
| Excellent sign-up bonus that includes up to $1,600 in free stock. | Webull accounts are not available to non-US residents. |
9. E*Trade
E*Trade offers access to an electronic trading platform to trade financial assets, including U.S.-listed stocks. e*Trade is one of the most established and trusted paper trading platforms available on the market to date. e*Trade offers both a web-based platform and a mobile app that offers access to an easy-to-use platform with trusted customer service.
Overview
| 🔎 Broker | 🥇 E*Trade |
| 🏛️ Headquarters | Arlington, United States |
| 📅 Year Founded | 1982 |
| ⚖️ Regulating Authorities | Financial Industry Regulatory Authority, Inc. (FINRA) |
| 🌐 Countries not accepted for trade | Not indicated |
| ☪️ Islamic account (swap-free) | None |
| ✴️ Institutional Accounts | Yes |
| 👨🏼💼 Managed Accounts | Yes |
| 👉 Sign Up Bonus | None |
| 💰 Minimum Deposit | Zero |
| 💳 Spread | Not indicated |
| 🔎 Open an Account | 👉Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low trading fees | Only US markets covered |
| User-friendly mobile trading platform | Slow account verification |
| Great research tools | No forex |
| Free stock and ETF trading | Higher fees for non-free mutual funds |
10. TradeStation
TradeStation is a global online securities and futures brokerage firm that offers access to stocks, options and futures. TradeStation is a US-based stockbroker that offers access to Paper Trading both on desktop and Mobile. The TradeStation Paper Trading Platform offers access to advanced orders, a variety of asset types, and a historical market database.
Overview
| Broker's Name | TradeStation |
| 📍 Headquartered | Plantation, Florida |
| 📅 Year Founded | 1982 |
| ⚖️ Regulating Authorities | FINRA, SEC |
| 🌐 Countries not accepted for trade | None |
| ☪️ Islamic account (swap-free) | None |
| 👍 Demo Account | None |
| 📊 Institutional Accounts | Yes |
| 📊 Managed Accounts | Yes |
| 🚀 Sign up bonus | Yes |
| 📈 Maximum Leverage | Leverage is often mentioned but no ratio is indicated |
| 👉 Open a account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❎ Cons |
| Great web and mobile trading platform | Not user-friendly deposit and withdrawal |
| Low stock and ETF fees | No forex trading |
| High-quality educational tools | Poor customer service |
Conclusion
The best paper trading platforms provide a risk-free environment where traders can refine strategies, understand platform features, and build confidence before committing real capital. Whether you prefer advanced charting, algorithmic testing, mobile accessibility, or multi-asset exposure, the leading platforms deliver realistic market conditions and intuitive tools suited for both beginners and experienced traders. By choosing a paper trading solution that aligns with your trading style and future objectives, you establish a strong foundation for disciplined, informed, and consistent trading performance when transitioning to live markets.
You might also like:
AvaTrade ReviewTD Ameritrade ReviewInteractive Brokers RevieweToro ReviewPlus500 Review
Frequently Asked Questions
What is the Best Site, Platform, Account, or app for Paper trading?
The Best Platform for Paper Trading is AvaTrade. Other notable platforms include TD Ameritrade and Interactive Brokers.
Can you paper trade with MetaTrader, Investopedia, and TradingView?
Yes, you can paper trade with MetaTrader, Investopedia, and TradingView.
Are NinjaTrader, eToro, and Interactive Brokers free for Paper Trading?
NinjaTrader and Interactive Brokers are free for a set period of time, with premium features available for purchase. eToro offers access to a free Paper Trading Simulator.
Are Webull and TD Ameritrade good for Paper Trading Options?
Yes, TD Ameritrade is excellent for all active traders, including day traders, options traders, and futures traders, and Webull allows beginners to practice options trading without any cost or risk.
What is Paper Trading and How Do You Start?
The term "Paper Trading" refers to a simulated trade that allows investors to practice buying and selling without risking real money. Investors can start by choosing a platform that offers a paper trading option.
Is Paper Trading Good for Beginners, Day Trading, and Making Money?
Paper trading can be an excellent way for beginners to gain experience, but it can't make the trader any profit, as it does not use real money.
Does Forex have Paper Trading, and is it worth it?
Most Forex brokerages offer a paper trading environment for traders to gain experience without the risk of losing real money.
What is Forex Trading Paper Money, and how do you use it?
Paper Money refers to the currency used in Paper Trading. It has also been referred to as "Monopoly Money."
What is a Paper Trading Simulator and How Does it Work?
Paper trading is a type of trading simulator that is done on paper.
What are the Best Paper Trading Apps in South Africa, India, Canada, and Hong Kong?
Best Paper Trading Apps in South Africa, India, Canada, and Hong Kong include eToro, eOptions, Interactive Brokers, and TD Ameritrade.
What is Paper Trading Vs Live (Physical) Trading?
Paper Trading allows investors to practice trading on a stock market simulator, while Live Trading is done in real-time with a real risk of losing money.
What are the best Paper Trading Platforms for Crypto, Stocks, and Options?
For Crypto, investors can look at Phemex, 3Commas, or eToro. When it comes to Stocks and Options, Webull, TD Ameritrade, and TradeStation are high on the list.
Recommended brokers
