UlasPc.com, One of the best learning methods is learning by doing. It is no different if you want to learn how to trade stocks. This is because by learning by doing, you not only know the theory but also the real conditions in the field.
Using a stock trading simulation app may be the best way for those of you who want to learn how to trade. In this app, you can apply the concepts and theories of technical and fundamental analysis using real data.
In the demo app, you will be given a certain amount of fake money to trade freely. That way, you don’t have to worry about losing money and such.
Top paper trading apps for you to Try
1. Stock Trainer
The first best stock learning app is Stock Trainer, an app developed by alifesoftware.com. One of the commitments of this application developer is to provide real-time data on each user. So it is no surprise that Stock Trainers are widely used by novice traders who want to learn how to trade and experienced traders who want to test their strategies.
Currently, Stock Trainer has been downloaded by more than 1 million people on Google Play, used by more than 3 million people in total, and received a rating of 4.3 out of 5 stars on the Google Play Store. The following are some of the features available in this app:
- Capable of accessing 20 exchanges in the world, including IDX.
- There is a stop loss and limit order feature.
- Portfolio management.
- The best and worst stock information in a trading period.
- Graphs with a period duration of up to 10 years that can be zoomed in and out.
- News related to business and the capital market.
This app is available in free and premium versions. Additional features of the premium account are that there are no ads and users can use Japanese candlestick charts.
The second best stock trading simulation app is Invstr. This app was developed by Invstr limited in 2014. Eight years after its release, this app has already been downloaded by more than 500 thousand Android users and provides trading simulations for various instruments from stocks to cryptocurrencies.
The advantage of Invstr is that there are many instruments that can be learned and traders (especially those living in the US) can also trade live using this app. Not only that, Invstr also offers free banking services that users can access.
The drawback is that Invstr requires a lot of space on the phone. To use this application, your phone must have at least 255 Mb of free space. Another drawback is that the data provided is not in real time.
3. Hitbull Stock Market Simulator
The next one of the best paper trading apps for trading simulation is Hitbull Stock Market Simulator or just Stock Market Simulator. Like Invstr, this app also offers not only a platform to practice stock trading, but also for other instruments including ETFs and Forex.
Another advantage of this paper trading app is that Hitbull Stock Simulator also provides technical analysis with various time frames ranging from hourly, daily to weekly. With these complete facilities, it is not surprising that this application has been downloaded by more than 100 thousand users on Google Play.
4. Trader Trainer
The virtual trading app, Trader Trainer, is the next best stock trading simulation app. In this application, you will be given 25,000 USD of virtual money to use in trading practice. This amount will increase as your trading level increases from Beginner to Novice Trader to Master Trader.
Well, to increase that level, this trader coach app also provides various technical indicators like moving averages and oscillators indicators which you can directly apply. Currently, the trader trainer has been downloaded by more than 100 thousand Android users and gets a review of 3.5 stars out of 5 stars.
5. Best Broker: Stock Simulator
Best Broker: Stock Simulator is the best paper trading app. Now this app has been used by more than 1 million android users all over the world. This is because in addition to providing comprehensive instruments ranging from stocks to various cryptocurrencies, this app also provides real-time data with various time frames and technical indicators.
The downside is that you won’t be able to find IDX-listed stocks in this app. Instead, you will find many foreign stocks like AAPL, MSFT, etc.
You may know Stockbit as one of the leading real stock trading apps. But did you know that stockbit also offers virtual trading facilities or demo accounts?
Yes! By downloading this application, you can learn how to trade through the virtual trading academy and stockbit features, as well as how to buy and sell stocks in real time on a live account. By making virtual transactions on Stockbit, you will be provided with virtual money of 100 billion rupees to buy stocks including blue chip stocks without hesitation using real-time data.
This makes virtual or demo trading accounts on apps like this very necessary for experienced traders as well as for evaluating their trading strategies.
7. MarketWatch Virtual Stock Exchange
Marketwatch is a medium that provides information on the stock market, from stock prices in real time to news related to these instruments. One of the novelties provided by this company is the virtual stock market marketwatch.
By using this app, you can not only access real-time stock price information, but also make virtual trades, compete with other traders, and create exciting games.
8. Stock Track
Slightly different from previous stock learning apps, StockTrack is a stock trading simulator designed not only for individual users, but also for companies and universities that want to educate employees or students to trade stocks and other instruments.
The features provided by StockTrak are quite comprehensive and can even be made specifically to accommodate teachers who want to assign homework to their students.
One of the trading simulation applications that offers the most complete instruments is the stock and currency investment games. Contrary to the name, this application also serves for virtual trading of crypto assets.
Another advantage is that the stock and forex trading games are available without any ads or pop-ups. In addition, many lessons are held depending on the type of instrument the trader carries. So it is no wonder that this app has been downloaded by more than 1 million users so far.