These platforms simulate real market conditions, providing an invaluable opportunity to learn, experiment with strategies and gain confidence without the financial risk.
Whether you’re a beginner looking to understand the basics or an experienced trader testing new strategies, our picks of the best paper trading apps will help you compare and find the right paper trading platform for you. And they’re all free to use.
Here’s our list.
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Interactive Brokers
Finder score
Interactive Brokers stands out as the best overall paper trading platform due to its comprehensive suite of advanced trading tools, real-time market data and extensive range of asset classes, including stocks, options, futures, forex and more.
The platform offers a highly customizable, professional-grade trading environment, complete with $1 million in virtual currency.
Additionally, Interactive Brokers provides detailed performance analytics, robust educational resources and a seamless transition to live trading. This makes it an ideal choice for both beginners and experienced traders aiming to refine their strategies and gain confidence before engaging in live markets.
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | N/A |
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | N/A |
eToro
Finder score
eToro stands out as the best crypto day trading app thanks to its advanced charts with over 100 indicators and a technical analysis tool that provides quick-view buy and sell signals.
Practice trading 21 cryptocurrencies including bitcoin (BTC), ether (ETH) and more, with eToro's user-friendly web and mobile trading platforms.
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | FINDER EXCLUSIVE: Get a guaranteed $15 bonus and $10 in free crypto |
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | FINDER EXCLUSIVE: Get a guaranteed $15 bonus and $10 in free crypto |
TradeStation
Finder score
Suitable for practicing trading stocks, ETFs, futures and options, TradeStation stands out with its trading simulator, allowing traders to back-test strategies and practice advanced tactics risk-free.
With unlimited simulated dollars and access to real-time market data, practice trading stocks, options and futures in a realistic environment.
Moreover, TradeStation's trading simulator is accessible on desktop, web and mobile devices, offering the flexibility to practice trading on your preferred platform.
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | $0.25 per contract |
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | $0.25 per contract |
E*TRADE from Morgan Stanley
Finder score
The Power E*TRADE trading platform, renowned for its robust suite of tools specifically designed for options trading, makes E*TRADE a standout choice for practicing options trading through paper trading.
With $100,000 in virtual currency and $200,000 in margin buying power, sample new strategies, build complex option positions and more.
Test-drive options strategies with real-time data, customizable charting capabilities and advanced analytical features. These include risk/reward probabilities, a customizable options chain, an analyzer to measure sentiment and activity around earnings releases, preset scans, 'what if' scenario analyzers and more.
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | Get up to $1,000 terms apply |
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | Get up to $1,000 terms apply |
Webull
Finder score
Webull's mobile-first design ensures a smooth and accessible experience for on-the-go trading practice.
With real-time market data, advanced charting tools and a variety of technical indicators, Webull lets you practice trading in a realistic environment.
Its highly customizable platform closely mimics live trading, offering a seamless experience for both beginners and experienced traders.
Additionally, Webull stands out as one of the few brokers that offers unlimited virtual currency, making it an excellent choice for comprehensive paper trading.
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | Earn up to 40 fractional shares and an extra 2% APY for 30 days |
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | Earn up to 40 fractional shares and an extra 2% APY for 30 days |
Moomoo
Finder score
Explore over 900 educational resources, follow top-performing paper traders and join paper trade competitions as you practice trading stocks, options and futures with Moomoo.
The platform offers real-time market data, $1 million in virtual currency and advanced analytical tools, letting you practice and learn in a realistic trading environment.
Moomoo's focus on education, combined with comprehensive resources and powerful trading tools, makes it an ideal choice for those looking to deepen their trading knowledge and skills through paper trading.
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | Get up to 15 free stocks |
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | Get up to 15 free stocks |
Charles Schwab
Finder score
With its acquisition of TD Ameritrade, Charles Schwab now offers the highly acclaimed Thinkorswim trading platform.
Practice trading stocks, ETFs, options, futures and forex with $100,000 of virtual buying power using real-time market data.
Available on web, desktop and mobile, the powerful Thinkorswim platform provides highly customizable charts with over 400 technical studies and 20 drawing tools.
It also features live news, scanner tools, screeners, watchlists and complex trading instruments.
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | Get a $101 bonus |
| Stock trade fee | $0 |
|---|---|
| Minimum deposit | $0 |
| Signup bonus | Get a $101 bonus |
Paid non-client promotion. Finder does not invest money with providers on this page. If a brand is a referral partner, we're paid when you click or tap through to, open an account with or provide your contact information to the provider. Partnerships are not a recommendation for you to invest with any one company. Learn more about how we make money.
Finder is not an advisor or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.
Finder’s investments experts review 18 brokers available on the market to narrow down the best brokerage accounts for paper trading.
We analyze each platform based on 147 key metrics we collect directly from brokers and assess each provider’s performance based on eight different categories, weighing each metric based on the expertise and insights of Finder’s investment experts.
We then score and rank each provider depending on how it performs in each category.
How we weigh the overall rating
| Category | Weighting |
|---|---|
| Investment options | 15% |
| Trading apps and technology | 35% |
| Trading costs | 5% |
| Account fees | 5% |
| Account types and minimums | 5% |
| Customer support | 5% |
| Mobile app ratings and security | 5% |
| Features and amenities | 25% |
We update our best picks as products change, disappear or emerge in the market. We also regularly review and revise our selections to ensure our best provider lists reflect the most competitive available.
Complete the account opening process online in minutes.
Choose a broker or robo-advisor, and complete a brief application by providing personal information such as your name, address, date of birth and Social Security number. Completed applications are typically approved instantly, though the broker may take a couple days to verify your information. Then, connect a bank account to fund your account.
Finder’s picks for the best brokerage accounts are meant to provide you with a starting point for finding the right broker to practice trading and investing.
Consider the following factors when comparing your options:
| If you're a | And want to | Consider this |
|---|---|---|
| Beginner investor | Do most or all of your trading on your mobile device | Best stock trading apps |
| Beginner investor | Trade and invest with as few fees as possible | Best discount stock brokers |
| Beginner investor | Outsource portfolio management automatically and at a low cost | Best robo-advisors |
| Beginner investor | Gain exposure to multiple assets like stocks, bonds or gold through a single fund | Best ETF brokers |
| Experienced investor | Get an overall idea of providers on the market and what they're best for | Best brokerage accounts |
| Experienced investor | Invest internationally in stocks, ETFs and other assets | Best international stock brokers |
| Retirement saver of any experience level | Save for retirement with upfront tax benefits | Best (traditional) IRA |
| Retirement saver of any experience level | Save for retirement and enjoy tax-free withdrawals | Best Roth IRA |
| Investor of any experience level | Diversify with low-cost index funds | Best brokerage accounts for index funds 2024 |
Yes, paper trading is worth it because it lets you learn and test strategies without risking real money, helping you build skills and confidence. It also provides an opportunity to familiarize yourself with trading platforms and understand the psychological aspects of trading.
Yes, most brokerage that offer paper trading offer it for free. However, some brokers may not offer the platform’s full range of features when paper trading.
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