Paper trading platforms offer a risk-free environment to practice and hone trading skills using virtual money.
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 platforms of 2024 will help you compare and find the right paper trading platform for you. And they’re all free to use.
15+ online brokers reviewed and rated by our team of experts
Evaluated under our unbiased rating system covering eight categories
20+ years of combined experience covering financial topics
We're big on editorial independence. That means our content, reviews and ratings are fair, accurate and trustworthy. We don't let advertisers or partners sway our opinions. Our financial experts put in the hard work, spending hours researching and analyzing hundreds of products based on data-driven methodologies to find the best accounts and providers for you. Explore our editorial guidelines to see how we work.
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
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.
Pros
$1 million in virtual currency
Expansive offering of powerful trading tools and functions
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
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.
Pros
$1 million in virtual currency
Study with 900+ courses
Follow top-performing paper traders
Compete in paper trading competitions
Advanced trading tools and features on an intuitive trading platform
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
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.
eToro stands out as the best crypto day trading platform 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
eToro stands out as the best crypto day trading platform 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.
Pros
Trade 21 cryptos
Advanced trading tools and features on an intuitive trading platform
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
Get $50 - $5,000
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.
Pros
Unlimited virtual funds
Trade stocks, options, futures, futures options and ETFs
Back-test trading strategies
Seamless transition between simulated and live trading
Earn up to 75 fractional shares and an extra 2% APY for 30 days when you open an account and make an initial deposit of the qualified amount. T&C apply.
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 75 fractional shares and an extra 2% APY for 30 days
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.
Pros
Unlimited virtual currency
Over 60+ technical indicators and 17+ charting tools
User-friendly interface with in-depth analysis tools
Cons
Limited tradable assets
Available asset types
Stocks, Options, ETFs, Cryptocurrency
Account types
Brokerage, IRA
Annual fee
$0 per month
Minimum deposit
$0
Signup bonus
Earn up to 75 fractional shares and an extra 2% APY for 30 days
Cash sweep APY
5%
Stock trade fee
$0
Minimum deposit
$0
Signup bonus
Earn up to 75 fractional shares and an extra 2% APY for 30 days
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
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.
Pros
Powerful Thinkorswim trading platform for web, desktop and mobile
Expansive trading education library
Trade stocks, ETFs, options, futures and forex
Cons
Only $100,000 in virtual currency
No seamless transition between paper and live trading on desktop
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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.
Methodology: How we choose the best paper trading platforms
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 platforms 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.
How do I open a brokerage account?
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.
What to look for when choosing the best paper trading platform
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:
Flexibility in asset classes. Ability to trade a wide range of asset classes such as stocks, options, ETFs, futures and forex to provide a comprehensive trading experience.
Comprehensive tools and features. Availability of advanced charting tools, technical indicators, and various order types to mimic live trading environments.
Educational resources. Integration with educational materials, tutorials, webinars and guides to help you understand trading concepts and strategies.
User-friendly interface. An intuitive and easy-to-navigate interface that allows users to focus on learning and strategy development rather than struggling with platform complexity.
No risk. Completely risk-free environment where you can experiment without the fear of losing real money.
Customization. Options to customize the trading environment, such as setting initial virtual account balances and adjusting trading preferences.
Seamless transition to live trading. Easy transition from paper trading to live trading, often within the same platform, allowing you to apply what they’ve learned directly to real markets.
Compare and find the broker that's right for you
Match your experience level with your trading and investing goals to find the right broker for you.
If you're a
And want to
Consider this
Beginner investor
Do most or all of your trading on your mobile device
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.
Can you paper trade for free?
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.
Matt Miczulski is an investments editor at Finder. With over 450 bylines, Matt dissects and reviews brokers and investing platforms to expose perks and pain points, explores investment products and concepts and covers market news, making investing more accessible and helping readers to make informed financial decisions.
Before joining Finder in 2021, Matt covered everything from finance news and banking to debt and travel for FinanceBuzz. His expertise and analysis on investing and other financial topics has been featured on CBS, MSN, Best Company and Consolidated Credit, among others. Matt holds a BA in history from William Paterson University. See full bio
Matt's expertise
Matt has written 204 Finder guides across topics including:
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finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
