What Is the Best Paper Trading Platform? Top Picks for 2025
Looking for the best paper trading platform?
You’ve come to the right place.
In this guide, we review five top-rated paper trading platforms that let you practice trading strategies without risking real money.
Best part?
They’re all 100% free. No deposits. No subscription fees. No hidden costs.
We’ll cover both broker-owned simulators and standalone charting platforms that connect to your broker of choice.
You’ll see the strengths and weaknesses of each option. And you’ll discover which platform fits your learning style and trading goals.
Important note: Paper trading is a learning tool. It helps you understand market mechanics and test strategies—but simulated results don’t guarantee real-world performance.
Let’s dive in.
What’s the best paper trading simulator?
Why trust us
Our reviews are built on real-world experience. We work closely with experienced traders who’ve spent dozens of hours testing these platforms to ensure each recommendation is reliable and practical. Visiting the tools we mention through the links on our website may generate a commission that helps support our mission to make trustworthy financial knowledge free and accessible for everyone—at no extra cost to you. Thank you for supporting us!
- Tested by traders, not marketers
- 30+ hours of testing
- Designed to help beginners
I’ve been day trading for over 10 years, so I decided to put five paper trading platforms to the test.
What I looked for:
- Realism: Does it feel like actual trading or a video game?
- Features: Quality of charts, order types, and available tools
- Usability: Can you figure it out without watching 10 tutorial videos?
After testing each platform, ProRealTime delivered the best value.
It’s not the simplest. But it offers professional-grade tools and realistic execution that serious traders need.
That said, the “best” platform depends on what you’re looking for.
Below, I’ll break down all five options—their strengths, weaknesses, and who should use them.
Let’s find the right fit for you.
All platform overviews in this article consider the browser-based version of the platform – we are not looking at the mobile app or downloadable desktop software. This is so you can get a feel for each broker and platform without having to install anything on your phone or computer.
#1 ProRealTime
ProRealTime delivers advanced tools and deep market access—completely free. Unlike most platforms, there’s no time limit and no paywall. Practice as much as you want.
The free web version is unlimited. Want more power? The full desktop software adds backtesting, automated trading, and advanced technical tools. It comes with a 14-day trial, plus YouTube tutorials and phone support to help you master it.
About ProRealTime
ProRealTime is a trading platform developed by IT-Finance, a French company with over a million users worldwide. The desktop software is built for serious technical analysis, with features like backtesting, automated trading, and detailed charting tools. Through the ProRealTime Trading offer, you can place orders directly from the charts with major brokers like Interactive Brokers, IG, and Saxo Bank—without needing to switch platforms.
From its intuitive dashboard to the ability to place trades directly from the charts, ProRealTime stands out as one of the best paper trading platforms available.
Given the risks involved in day trading, we especially value the fact that ProRealTime offers unlimited access to its web-based paper trading simulator—completely free, with no pressure to open a real account.
You get one-click trading, a smooth interface, and a wide range of technical indicators to scan and track trade setups.
For overall usability, flexibility, and depth, ProRealTime is our top pick for paper trading.
Read our full ProRealTime paper trading simulator review >
#2 Thinkorswim
thinkorswim isn’t beginner-friendly out of the box. The platform packs professional tools into every corner, which means there’s a learning curve. Expect to spend a few sessions just figuring out navigation. But once it clicks? You get institutional-quality analysis for free.
About thinkorswim
Thinkorswim is a US-based trading platform that has changed ownership a few times over the years. Originally developed by Thinkorswim Group Inc., it was later acquired by TD Ameritrade, and most recently by Charles Schwab in 2020. Known for its impressive longevity, the platform boasts around 11 million users and manages over $1 trillion in assets, according to a 2021 report. Thinkorswim offers traders access to a wide range of financial instruments including stocks, options, and futures.
Thinkorswim’s platform has one of the best stock screener tools out of the paper simulators we’ve reviewed. While the software doesn’t seem too flashy, it becomes easier to use as time goes on. It also has a good alert system to analyze and monitor your trades.
Some mechanics felt frustrating when switching between the tabs of ‘Trade’ and ‘Chart’—your existing setup on any chart doesn’t carry over if you navigate between the two, and the dashboard is not as intuitive as some of the other platforms we’ve reviewed here.
Read our full thinkorswim paper trading simulator review >
#3 – TradingView
TradingView offers an impressive array of technical tools and fundamental indicators for its traders, but is less beginner-friendly than some of the other platforms we’ve reviewed. While definitely sophisticated, the dashboard is harder to navigate. However, there is definitely top-tier tech to utilize once you’ve overcome a slightly harder learning experience.
About TradingView
Perhaps best known as a charting package provider rather than a broker in its own right, TradingView’s platform combines sophisticated tech with a 60-million strong community of traders, providing its user base with powerful analytical tools and access to a large range of asset classes.
With impressive charting software, a large array of tools to use, and plenty of features to help you analyze trends, TradingView has enough to keep even the most demanding trader satisfied. The software’s capabilities are powerful, reliable, and fast.
Navigating the dashboard and platform is not as easy as it could be, so it’s easy to make the argument that TradingView is not as accessible as some of the other paper simulators we’ve taken a look at. Perhaps this platform is more suitable for an intermediate or advanced trader.
Read our full TradingView paper trading simulator review >
#4 – Webull
Enjoy a user-friendly platform with a low barrier to entry in terms of experience, and trading itself is quite slick and intuitive. There’s a wide range of tools to pick from; however, some basic features were are hard to find which prevent you from fully testing out your strategies.
About Webull
The US broker has about 20 million global users, and offers access to stocks, ETFs, and options – a slightly narrower set of asset classes compared to some of the other platforms we look at, who extend to forex and indices.
Webull’s dashboard is easy to use and customize as you see fit—it feels intuitive to control and change the layout. You can drag and drop any elements or windows to get the exact setup that you’d like, and even though the initial setup to get a demo is slightly confusing, it’s one of the more user-friendly dashboards.
It’s a smooth experience to use the platform – as is placing a trade, which is possible from the charts. There are plenty of tools to choose from, and there’s a healthy range of indicators and technical analysis tools for both beginner and intermediate investors.
Read our full Webull paper trading simulator review >
#5 eToro
We find the demo account to be quite lacking in terms of depth and analysis, and this seems to be a deliberate ploy on eToro’s part to lock a lot of the platform’s potential behind a full, real account. The point of a paper simulator seems to push users to upgrade as soon as possible, rather than let traders go at their own pace. Therefore, eToro isn’t the best choice to hone your trading strategies if you’re looking for a comprehensive suite of technical analysis tools.
About eToro
eToro is best known for its copy trading and social aspect of its community, with approximately 30 million users to date. The platform stays true to its values, emphasizing an integrated feed of users posting various trades, strategies and news on a wide range of asset classes – though depending on your region, you may be restricted from trading them all.
Unlike many of its competitors, eToro doesn’t focus on pushing charts, which is a refreshing change if you’re a fundamental rather than technical trader. Instead, it relies heavily on the social aspect of trading, connecting you with a wider community of traders to give you a much more inclusive experience. Trading is simple on eToro’s platform, and ideas are plentiful.
More than any other paper simulator we’ve reviewed, eToro locks a lot of its platform’s features and tools behind a real account. It pushes you to open a real account a little too often, which can be frustrating if you’re just looking to utilize a paper simulator to its full extent. A lot of technical tools and analytical features are unavailable.
> Read our eToro Paper Trading Simulator Review
What to Look for in Free Trading Simulators
Which platform should you choose?
It depends on what you’re actually trading.
For chart-focused traders: Use ProRealTime or TradingView. Both offer institutional-grade charting without locking you into a specific broker.
For TD Ameritrade customers: Thinkorswim is excellent—but paper trading access expires after 30 days unless you have a funded Schwab account.
For social traders: eToro lets you follow and copy other traders’ strategies in real-time.
For mobile-first beginners: Webull offers the cleanest interface and easiest learning curve.
Bottom line: Match the platform to your trading style, preferred assets, and experience level.
New to paper trading? Our step-by-step guide walks you through your first simulated trades.
FAQ
Is there a free trading simulator?
Yes, paper trading simulators are mostly free to sign up for and never require real money to deposit. Some brokers may charge access to their platforms even in a virtual environment, but none of those are included in our review.
Do I get Access to Real Data when I use a Trading Simulator?
Most platforms provide delayed data (around 15 minutes), depending on the asset. To access real-time data, you’ll typically need a paid subscription. Make sure to review each platform’s data policy to see what’s available for the assets you’re interested in paper trading.
Do I keep my paper simulator if I open a real account?
That depends. In some cases, you may be able to keep access to your paper simulator once you open a real account. In most cases, yes!
Do Paper Trading Simulators expire?
Yes. Many paper trading simulators limit access to 30 days (sometimes they may go as long as 90 days), which should be enough time to familiarize yourself with the platform. If you’re looking to extend your demo account, you may be able to do so by contacting the broker directly. Some platforms like ProRealTime Web offer non-expiry demos.
What is the best paper trading platform for Futures Trading
In our view, IBKR × ProRealTime is the best paper trading combo for practicing futures trading—offering realistic simulation, deep market access, and pro-level charting. You can also check out our complete guide to Futures Trading for a deeper dive.
Maxime holds two master’s degrees from the SKEMA Business School and FFBC. As founder and editor-in-chief of NewTrading.fr, he writes daily about financial trading.
Best Paper Trading Simulators
Paper Trading on thinkorswim: a Comprehensive Review
