Best Paper Trading Platforms - Our Top Picks for July 2024

eToro is one of the leading platforms for forex trading, praised for its large community of traders, low minimum deposit, and easy-to-use platform.

When it comes to paper trade, eToro allows users to trade stocks, commodities, and currencies without having to spend real money.

This is ideal for new investors who want to practice their trading skills without putting any money at risk. The eToro paper trade account also provides users with access to live market data and analysis, so they can make informed decisions about their trades.

If you want to trade paper with eToro, you should create a free account from your desktop computer. Alternatively, you can download a native paper trading app for iOS or Android.

Your account will be funded automatically with a $100,000 paper trading balance. If you want more virtual funds to trade, you can contact eToro support and specify the additional sum you require. The amount that can be added upon request is up to $100,000, making the total $200,000.

The eToro virtual account has a clean and easily navigable interface. Managing your virtual portfolio is effortless, even if you are a beginner. You can buy stock, ETFs, and cryptocurrencies as individual assets. eToro also offers CFDs if you want to trade on a shorter time scale.

This covers a wide range of equities, indices, digital currencies, forex, commodities, and interest rates. Overall, over 3,000 instruments are available for virtual trading with eToro.

One of the best things about this practice trading app is that you can link your eToro paper trading with other, more experienced traders and discuss trading strategies, as eToro is an excellent platform for copy trading.

Copy trading is among the most popular methods of learning to trade because it allows you to copy trade strategies from more experienced brokers. 

eToro is a fee-free platform, meaning that if you want to switch from a paper trading account to a real money account, you won’t pay any account opening or management fees.

So if you’re new to online trading and want to learn the ropes without any risk, the eToro paper trade account is the perfect solution for you.

Founded in 2007, eToro is one of the best paper trading platforms, with over 20 million users worldwide. It offers a wide range of assets, including stocks, ETFs, commodities, and cryptocurrencies. With its user-friendly interface, eToro makes it easy for anyone to start paper trading.

TradeStation is an online brokerage company that enables you to trade a wide range of financial assets, including stocks, futures, options, and forex.

The company was founded in 1982 and is owned by Monex Group, one of the largest online brokerages in Japan. It has a long history of providing quality services to its clients and is a trusted name in the industry.

In addition to its brokerage services, TradeStation also provides technology and services to help traders develop their skills and improve their performance.

TradeStation’s stock practice app allows you to practice your trading strategies with virtual currency through its paper trading platform.

TradeStation offers a variety of features and tools that make it an ideal platform for both new and experienced traders. The company’s desktop trading platform is highly customizable and provides advanced charting and analysis tools.

This is why TradeStation is perfect for experienced traders, allowing them to test new strategies, automate orders, and more. The platform enables real-time paper options and futures trading.

With a strong focus on education, TradeStation provides plenty of resources to help traders improve their skills. The company’s website includes an extensive Knowledge Center that covers a wide range of topics, from basic trading concepts to more advanced strategies.

TradeStation also has a big community of traders, and those with more experience are willing to share their knowledge.

Overall, TradeStation’s stocks simulator is a well-rounded platform that offers features and tools for new and experienced traders alike.

The company’s focus on education and its commitment to providing quality services make it a great choice for those novices who are looking for a reliable broker.

TradeStation offers a powerful trading platform that is designed for active traders and investors. With TradeStation, you can trade stocks, options, futures, and forex all in one account. Praised as the best paper trading platform for seasonal traders, TradeStation is also a good place for beginners, providing a wide range of research and education resources to help them make the most informed trading decisions.

The next one on our list of paper trading websites is AvaTrade. It holds licenses with the Central Bank of Ireland, ASIC in Australia, the Financial Sector Conduct Authority in South Africa, and others. 

AvaTrade offers a demo account for paper trading that allows you to test your trading strategies before putting real money on the line. This is a risk-free way to learn the ropes and get a feel for how the market works.

The simulator mimics actual market conditions, so you can get a realistic experience of what it’s like to trade with AvaTrade. 

You can easily open a demo account and start paper trading stocks or other assets, including forex pairs, cryptocurrencies, indices, and commodities.

The brokerage enables you to trade with confidence, knowing that you have access to the latest market information and analysis. Over 1,000 instruments are available for trading, including the most popular cryptocurrencies.  

With AvaTrade you can trade on the go with the AvaTradeGO app, available for both iOS and Android devices. Alternatively, you can opt to trade on your desktop or laptop with the AvaTrade WebTrader platform.

On the whole, AvaTrade paper trading is a great way to learn about the markets without taking any risks. When you’re ready to start trading for real, you can open a real account with a $100 deposit.

Trusted by 300,000 people worldwide, AvaTrade is one of the leading global brokerage companies. It has been around since 2006, providing services on six continents. Unfortunately, AvaTrade is not regulated in the US. Trustpilot has rated AvaTrade with a 4.7 score based on over 6,600 reviews.

Webull offers a paper trading platform that is simple and intuitive. The app interface is clean and easy to navigate, so you can quickly create a new account and start trading within minutes.

You can make an account directly from the Webull website by providing your personal information, using a passport, or a valid driving license. 

Webull allows you access to the brokerage platform through the website, but you can also download a desktop app that’s available for Windows and Mac users.

In addition, you can download apps for iOS and Android devices and practice stock trading wherever you are.

Like other stock trading simulators, Webull offers a variety of features and tools for active traders, including real-time market data, news and analysis, and an array of tools and indicators.

Webull paper money trading is a great way to learn how to trade without risking any real money. The app provides users with all of the tools and resources they need to make informed trades, which makes it an excellent choice for beginners and experienced traders alike.  

Webull is a good place to go if you want to practice trading with ETFs, stocks, options, and cryptocurrencies, as the platform guarantees access to over 100,000 investments.

Webull is a US-based financial technology company that offers commission-free online stock trading services. The company was founded in 2017 and is a member of FINRA, SIPC, NYSE, and NASDAQ. For those seeking a safe and secure paper trading simulator Webull is the right place to go.

nteractive Brokers is a popular online broker that offers traders access to a wide range of markets. The company was founded in 1978 and is headquartered in Greenwich, Connecticut.

Interactive Brokers offers a variety of account types, including individual and joint accounts, as well as corporate and trust accounts. It also allows users to practice trading with its simulated trading program.

Like other similar platforms, Interactive Brokers’ paper trading accounts allow you to practice investing without putting any money at risk. One of the best things about this paper trading account is the account balance you get to trade.

While most paper trading accounts are limited to $100,000, Interactive Brokers funds your account with $1 million. This will be enough to master your trading skills and learn useful strategies before you start trading with your own money. 

When it comes to other benefits of paper trading with Interactive Brokers, the list is long. Interactive Brokers allows you to explore various markets, test out order types, and try out the advanced charts and analysis tools.

Real-time charts and price risk analytics are also available with Interactive Brokers. If you want to try trading options and learn more about this popular financial instrument, Interactive Brokers allows options paper trading with more than 130 markets. 

The downside of Interactive Brokers paper trading is that the platform doesn’t support all order types, like Auction and Passive Relative. Also, the platform doesn’t allow you to trade mutual funds. Irrespective of those imperfections, Interactive Brokers is a good way to learn and improve your trading skills.

If you’re new to paper trading or just want to brush up on your skills, Interactive Brokers’ paper trading software lets you place trades and manage your account with no effort.

The simulator is quite realistic, so you can test out diverse strategies and order types and see how they would have worked in real-life situations.

The next one on our list of the best trading simulator platforms is run by Interactive Brokers, a company that has been active for more than four decades. Interactive Brokers paper trading allows you to learn trading with a $1 million free trading demo account.

Praised for its wide range of tradable assets, zero-fees commission, and beginner-friendly platform, TD Ameritrade deserves to be on our list of top paper trading platforms.

Its 11 million active members are a good recommendation to start trading with this brokerage. As for paper trading, TD Ameritrade offers a Thinkorswim platform designed by traders for traders. 

Thinkorswim by TD Ameritrade is a powerful paper trading platform that lets you test your trading strategies in real market conditions. This way, you can see how your strategy would have performed in the past and get a feel for how it might perform in the future. 

You can create a free paper trading account with Thinkorswim’s mobile and desktop platform so that you can trade on the go or at your desk. The mobile app is user-friendly and has all the main features of the desktop platform, making it a great choice for active traders.

The desktop platform is a bit more complex, with additional features and tools for active traders. This is why, if you’re new to trading, you may want to start with the mobile app and then move on to the desktop platform when you’re ready. 

To start paper trading, you need to install the Thinkorswim options trading platform from the TD Ameritrade website. Once you have installed it, you will need to create a paper trading account.

Like other paper trading sites, TD Ameritrade funds your account with virtual money. Your account will be funded with $100,000 of virtual money, which you can use to practice trading. 

You can also use Thinkorswim to trade real money, but you will need to deposit funds into your TD Ameritrade account. You can do this by linking your bank account or using a debit or credit card. 

Thinkorswim allows you to trade forex, equities, options, and futures, but doesn’t include cryptocurrencies. The platform also has a powerful charting tool that lets you analyze the market and find trading opportunities.

Moreover, you can automate your trading with the Strategy Roller, set the alerts, and use options statistics tools. 

All in all, if you’re looking for a paper trading platform that can give you an edge in the market, Thinkorswim is a great choice. 

In business since 1971, TD Ameritrade is an established online stock broker. With over $54.394 billion in assets, it’s one of the largest online brokers in the world. TD Ameritrade offers paper trading, so you can test your investment strategies before putting real money at risk. TD Ameritrade paper trading is available through the Thinkorswim platform.

Tradier is an API-based trading service that provides considerable customization and flexibility to its traders.

With Tradier, you use API to connect to various trading platforms and then access their trading service. You can customize the trading experience to better suit your needs and preferences.

Paper trading with Tradier is enabled through the TradeHawk platform, which is easy to navigate and equipped with tools for a real-time trading experience. It’s a great way for new investors to learn the ropes and test out strategies before putting real money on the line.

There are two TradeHawk platforms for paper trading to choose from, both available for Windows and Mac desktops, as well as for mobile phones.

The TradeHawk 2.0 comes with versatile trading features, including advanced analysis, multi portfolio views, dozens of charts, options and spread charts, and more. 

However, TradeHawk is not free to use. Depending on your needs, you can choose the paid software version ($10) that charges a $0.35 per contract commission or a commission-free version that costs $85.

You can also opt for a desktop version or a mobile-based app. It’s the best paper trading app for traders who want a customizable platform. 

The platform provides access to real-time market data, and users can place orders for stocks, options, and other securities. Tradier also offers a variety of educational resources, including articles, webinars, and video tutorials.

These resources can help users learn about the paper trading platform and how to make the most of it. In addition, you can learn about how to buy stocks, see what shares you should buy, and create a diversified portfolio.

The next candidate for the best stock trading simulator is Tradier, a brokerage company headquartered in New York City. It has been in operation since 2014, allowing traders to use various trading platforms through its API service.

A paper trading platform that has been around since 2001, Forex.com allows users to trade foreign currencies without having to invest any real money. This makes it an ideal way for new investors to practice and learn about the forex market before risking any actual money.

The site also offers a variety of tools and resources to help users make the most of their paper trading experience.

Forex.com offers a paper trading account that you can use to practice your trading strategies. The account is free to open, and you can use it for an unlimited period.

There are two platforms to choose between - FOREX.com and MT4. You can trade all the major currencies, including USD, EUR, JPY, and GBP. In addition to being able to trade over 80 currency pairs, you can also trade metals. 

To get started, simply sign up for a free account and then fund it with virtual money and you can begin paper trading immediately.

The account comes with several features, including a demo trading simulator that allows you to practice your trading strategies in a real-world environment. You’ll also be able to track live market updates and analyses to stay on top of the latest developments. 

Compared to other trading simulators, Forex.com is a great tool to use if you’re new to forex trading or if you’re a professional trader who wants to test out a new strategy.

Forex.com is a reliable and user-friendly platform that offers a paper trading simulator to help you practice your trading strategies. The platform provides all the information you need to make informed trades.

Forex.com is a leading forex broker with products and services specifically designed for the currency market. The company has carved out a solid reputation as a reliable and trustworthy broker. It offers a free paper trading simulator and a wide range of financial products to trade, making it a great choice for both beginner and experienced traders.

Capital.com is a new online broker that provides trading in forex, CFDs, and cryptocurrencies.

Established in 2016 and based in Cyprus, the company is governed by several agencies, including the Financial Conduct Authority (FCA) and the CySEC (Cyprus Securities and Exchange Commission).

If you want to learn how to trade without investing real money, Capital.com is where you need to be. First, go to the Capital.com home page, locating the “Practice for free” button.

Like other paper trading accounts, Capital.com's paper trading account is entirely free. Moreover, it’s funded with unlimited virtual funds, meaning that you can practice for as long as you want, without worrying about the account funding. 

The Capital.com platform offers over 75 technical indicators and multiple chart types to test trading strategies. You can practice trading through the website platform that’s easy to use, even if you’re a complete beginner.

Of course, Capital.com has a powerful mobile app for both iOS and Android users. If you want to stay up to date with market changes, this app is the perfect solution for you - you’ll be able to track your portfolio, get alerts on market changes, and similar. 

Capital.com is a terrific option if you want to trade CFDs on Apple, Citigroup, or Microsoft equities. The platform provides competitive pricing, and its customer service team is available 24/7 to assist with any queries you may have.

What’s more, Capital.com is praised as one of the best paper trading platforms and brokers for cryptocurrency trading. Bitcoin, Ripple, Ethereum, and Litecoin are all cryptocurrencies that may be purchased or sold on this site.

The platform is one of the first in the industry to offer crypto-to-fiat pairs, meaning that you can trade cryptocurrencies against traditional fiat currencies such as USD, EUR, GBP, and others.

Having tested out this platform, if you decide to upgrade your paper trading account to a real brokerage account, you’ll enjoy competitive pricing with no hidden fees or commissions.

If you are looking for the best paper trading site for cryptocurrencies, Capital.com is the right place to go. Trusted by over 380,00 active traders, Capital.com offers a user-friendly platform with an array of features, making it an excellent choice for both beginners and experienced traders who want to try paper trading crypto.