What Is the Best Paper Trading Simulator ? Top Picks for 2024
When trying to pick a broker and open a trading account, a good place to start is by looking at the paper trading simulators they offer.
In this review, we take a look at five free paper trading simulators as part of our series of in-depth reviews. No deposits are needed, and there are no subscription fees for any of paper trading simulators we mention.
Please also note that overviews consider the website-based version of the paper trading platform – we are not looking at the mobile app or downloadable desktop software here. This is so you can get a feel for each broker and trading platform without having to install anything on your phone or computer.
Throughout this article, we’ll guide you through various trading demo accounts, highlight their strengths and weaknesses, and find the best paper simulator that suits your trading style.
Let’s dive in.
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Which is 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
With over 10 years of day trading under my belt, I decided to test five popular paper trading platforms. I wanted to see how they compare in terms of realism, features, and overall ease of use.
- Realism means how closely the platform’s simulated trading environment mirrors real-world market conditions.
- When I refer to features, I’m assessing the range of tools, charting options, and order types available to users.
- Finally, accessibility covers how easy the platform is to navigate, especially for beginners, including the learning curve and user interface design.
After spending hours on each platform, one thing became clear: ProRealTime offers the best all-around paper trading experience.
It may not be the most beginner-friendly or flashy, but it delivers where it counts—reliable order execution and powerful tools that cater to traders at all experience levels. For me, that’s worth the learning curve.
Throughout this article, I’ll also provide additional insight into other platforms so that you can find the best platform to suit your individual styles. After all, every trader is different.
So, let’s find the best platform for you.
#1 ProRealTime’s Paper Trading Simulator
ProRealTime has a huge range of tools and indicators that are accessible for all types of investors, interactive chart trading that feels powerful and gives you complete control, and even has embedded video tutorials to help you maximize the platform’s potential. A significant advantage is the unlimited access to the paper trading account, allowing for endless practice—a feature not commonly found on other platforms.
About ProRealTime
ProRealTime is a trading platform made by IT Finance, a French company. It’s not tied to any single broker and has over a million users around the world. The software is known for its strong charting tools and in-depth market analysis features. Traders can practice with fake money on stocks, futures, and other investments. ProRealTime works with big-name brokers like Interactive Brokers, IG, and Saxo Bank. Its wide range of tools makes it popular with both beginners and experts, setting it apart in the trading software market.
From an easy-to-navigate dashboard to the level of interaction possible when trading directly from the charts, there are few better paper trading simulators to use than ProRealTime’s web platform. We particularly appreciate that Prorealtime offers a free paper trading platform for unlimited time without the usual push to open a real account.
Enjoy one-click trading, a slick interface, and plenty of tools to help you find and monitor potential trading opportunities.
ProRealTime’s paper simulator has no glaring weaknesses—it is our pick for the best overall experience.
Read our full ProRealTime paper trading simulator review >
#2 Thinkorswim’s Paper Trading Simulator
Thinkorswim’s platform is definitely powerful, even if it seems quite basic at first. Traders who spend a decent amount of time with it will discover its depth, and it’s perhaps best suited to advanced stock investors rather than beginners, but it’s still fairly accessible.
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 ProRealTime paper trading simulator review >
#3 – TradingView’s Paper Trading Simulator
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’s Paper Trading Simulator
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’s Paper Trading Simulator
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.
What to Look for in Free Trading Simulators
Using a paper trading simulator before jumping into real money trades is a smart move. It’s like training wheels for new traders—and a great way for experienced traders to test new strategies without risking a dime.
But not all simulators are created equal. Some offer real-time data and sophisticated tools. Others feel more like video games. The key? Pick one that aligns with your trading style.
Are you a technical trader who lives for charts and indicators? Then you’ll want a platform with advanced charting tools—something like TradingView or ProRealTime. More interested in community and copying trades? Check out eToro.
Remember, there’s no “one-size-fits-all” here. Choose a simulator that fits your style, assets, and trading goals. That way, when you’re ready to go live, you’ll already feel like a pro.
Is Paper Trading free?
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 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.
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.
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.
Maxime holds two master’s degrees from the SKEMA Business School and FFBC: a Master of Management and a Master of International Financial Analysis. As founder and editor-in-chief of NewTrading.fr, he writes daily about financial trading.
Best Paper Trading Simulators
