With the development of mobile internet and financial technology, more and more investment apps are providing beginner investors the opportunity to get into online trading with little or zero upfront investment. By downloading these apps and opening a practice account, beginners can learn trading skills, test strategies, and get familiar with the real market before putting in real money. This allows investors to improve skills while avoiding initial losses. In this article, we will look at some of the top beginner-friendly online trading apps that require zero or very low investment to get started.
Top 3 online trading practice platforms for beginners
1. TD Ameritrade Mobile Trader – TD Ameritrade provides a paperMoney practice account that comes with $100,000 of virtual funds. It provides real market data and tools that allow beginners to experience actual online trading scenarios. Users can practice trading stocks, ETFs, options using its web-based platform or mobile apps.
2. Webull Paper Trading – Webull is a popular stock and options trading app. It offers new users $1 million of paper trading balance to practice stock and options trading strategies without risking a penny. Webull’s virtual trading system delivers accurate real-time market data and analysis tools to provide a realistic trading experience.
3. Oanda Practice Account – Oanda is an online CFD and forex broker for traders of all skill levels. Its FX practice account has all of Oanda’s trading features and market data. Beginners can use it to get familiar with forex and CFDs trading before committing real capital. Multiple order types and advanced charts are available to develop trading skills.
Other beginner friendly online trading apps
In addition to dedicated paper trading platforms, many other online brokers also offer ways for beginner investors to experience real market trading:
1. Charles Schwab – Schwab provides virtual trading solutions like Stock Slices, focused beginner courses and seminars to help new investors learn. Its Streetsmart Edge platform also comes with paperMoney capabilities.
2. E*TRADE Mobile app – E*TRADE offers zero minimum to open a brokerage account. Beginners can start with learning resources and monitoring tools before funding the account and placing real trades using its easy-to-use mobile app.
3. Fidelity Investments – Fidelity is one of the largest US online brokers that offers $0 trades. With its virtual Guidance Consultation services, beginners can practice trading strategies with experts before investing real money.
By leveraging various online trading apps that provide virtual practice balance and real market data, beginner investors can first improve their skills and build confidence before committing actual capital into the financial market. This allows newcomers to avoid initial losses while getting hands-on trading experience.