The Tradeskill
Paper trading platform guide

Best Paper Trading Platforms in the UK (2026)

The UK has its own rules since Brexit, and some of them change what you should practise. Retail traders cannot buy crypto derivatives from FCA-regulated firms, crypto ETNs became available to retail investors in October 2025, and spread betting is a UK-specific product. This guide covers the platforms and how to practise for UK conditions.

Rules and platform details checked on October 21, 2026.

Quick answer

Start with a free simulator that makes you journal, then use the demo account of the FCA-authorised broker you plan to use. Don’t build a strategy around leveraged crypto futures: UK retail clients can’t buy them from FCA-regulated firms, so practise spot crypto, forex, shares or crypto ETNs instead.

Guides by region

Rules, products and market hours differ by country, so each guide covers what changes where you live.

GlobalEuropeUKUSIndia

Paper trading platforms UK traders use

The Tradeskill

What it is
Free web simulator: $20,000 virtual cash, 30 crypto pairs, 25 US stocks and ETFs, 5 forex pairs and gold
Good for
Practising a full routine (plan, size, journal, review) plus free chart replay and an order flow heatmap
Watch out for
Virtual balance is in US dollars; no European, UK or Indian exchange-listed stocks

TradingView Paper Trading

What it is
Built-in simulated account on TradingView charts
Good for
Practising entries on the same charts you already use
Watch out for
No journal or review workflow built in; some exchange data needs a paid plan or add-on

UK spread betting and CFD demos

What it is
Free demo accounts from FCA-authorised brokers such as IG and Plus500
Good for
Learning spread betting or CFDs before going live
Watch out for
Most retail CFD accounts lose money; demo fills are kinder than live ones

eToro virtual portfolio

What it is
A built-in virtual balance next to the live account
Good for
Practising on eToro before trading it live
Watch out for
Tied to eToro’s instruments and pricing

Interactive Brokers paper account

What it is
Simulated account mirroring IBKR’s real platform, including the LSE
Good for
Practising UK and US shares on a professional platform
Watch out for
Full paper account is for account holders; steep learning curve

No crypto derivatives for UK retail traders

Since 6 January 2021, FCA-regulated firms have not been allowed to sell crypto derivatives, such as crypto CFDs, futures and options, to retail clients. That ban is still in place. Offshore exchanges that offer UK users 100x crypto futures are doing so outside UK protections.

For practice this matters a lot. If your plan is to trade live in the UK, practise spot crypto with no leverage, or the products you can actually buy. Our order flow tools read Binance Futures data, and the heatmap and footprint are still useful for reading where liquidity sits, but treat them as analysis, not as a product you will trade.

Crypto ETNs are open to retail since October 2025

From 8 October 2025, the FCA allowed retail investors to buy crypto exchange-traded notes (cETNs) listed on a UK recognised investment exchange. They are treated as Restricted Mass Market Investments, so expect appropriateness checks, and they are not covered by the Financial Services Compensation Scheme. Practising spot Bitcoin and Ethereum on a simulator is a reasonable stand-in, because a cETN tracks the underlying coin.

Leverage limits on CFDs and spread bets

The FCA applies the same retail leverage limits as the EU: 30:1 on major forex pairs, 20:1 on gold and major indices, 10:1 on other commodities, 5:1 on shares and 2:1 on crypto-linked products where those are allowed at all. Margin close-out at 50% and negative balance protection apply too. Set your practice position sizes to fit these limits.

US market hours in UK time

The US regular session runs from 14:30 to 21:00 UK time for most of the year. For about three weeks a year, in March and around the end of October, the clocks change on different dates and the session runs from 13:30 to 20:00. The London Stock Exchange is open 08:00 to 16:30.

Where The Tradeskill fits

What it does well

  • Free, with no broker account needed to practise.
  • GBP/USD and EUR/USD next to crypto, US stocks and gold.
  • Journal and AI trade review to build the habits FCA leverage limits reward.
  • Free chart replay for practising setups outside UK working hours.

What it can’t do

  • No LSE-listed shares, and no spread betting account type.
  • Virtual cash is in US dollars, not pounds.
  • The order flow tools use crypto futures data, which UK retail clients can’t trade with FCA-regulated firms.

Frequently asked questions

Is paper trading legal in the UK?+

Yes. No real money is involved, so it is not a regulated activity. The FCA’s rules apply once you open a live account.

Can I trade crypto futures in the UK?+

Not as a retail client of an FCA-regulated firm. The ban on selling crypto derivatives to retail clients has applied since 6 January 2021. You can practise them on a simulator, but plan to trade spot crypto or crypto ETNs live instead.

Can UK investors buy crypto ETNs?+

Yes, since 8 October 2025, when listed on a UK recognised investment exchange. They are not covered by the FSCS, and firms will check that they are appropriate for you.

Which demo account is best for UK beginners?+

Begin with a free simulator that makes you journal and review trades. Once you have chosen an FCA-authorised broker, use its demo for a few weeks to learn its platform.

What time does the US stock market open in the UK?+

At 14:30 UK time for most of the year, closing at 21:00. For about three weeks a year when the clocks change on different dates, it opens at 13:30.

Official sources

Start practising free

$20,000 in virtual cash on live crypto, US stock, forex and gold prices, with a trade journal and chart replay. No card needed.

This guide is general education, not financial, legal or tax advice. Rules change, so check your regulator before trading with real money. Platform names belong to their owners; The Tradeskill is not affiliated with them.