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Paper Trading
What is paper trading? Paper trading is a simulated trading experience that allows you to practice buying and selling assets without using real money. Instead of placing actual trades in the market, you use a virtual account funded with simulated cash. This gives you the opportunity to test investment strategies, explore the trading platform, and build confidence in the financial markets without any financial risk. What can I paper trade? Our platform supports paper trading for stocks, ETFs, options, and futures. For options, the currently supported strategies include covered and single option strategies, with additional strategies in development. Paper trading is available on the mobile app, desktop app, and web platform. Are there any limitations with options paper trading? If you are already holding shares needed for a covered option, you will not be able to create a new order that uses only those existing shares. Instead, you will need to place a new covered option order, which includes both the option contract and an order to buy the 100 shares required. How do I access paper trading? The paper trading feature is available on the mobile app, desktop app, and web platform. To access, please follow the steps below: |
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What are the trading hours for paper trading? Our platform allows paper trading of stocks and ETFs from 4:00 AM to 8:00 PM EST on business days. For options paper trading, available hours are 9:30 AM to 4:00 PM EST. There is a limit of 1,000 shares or units per order, and you may hold up to 100 different securities in your paper trading portfolio at any given time. Why does my order not fill in paper trading? The following order types are available in paper trading: market order, limit order, stop order, stop limit order, and trailing stop order. Market orders are only executed during regular trading hours (9:30 AM to 4:00 PM EDT) and fill immediately at the current market price. Limit orders, including those placed during extended hours, may execute during full trading hours. Other order types such as stop orders and stop limit orders will only fill when the set price or specific condition is met. The execution of orders in paper trading depends on trading activity and the last price. If there is no trading volume after you place an order, the order will not be filled. How do I distinguish between paper trading and real trading? In paper trading, you are engaging with a simulated environment where all transactions and funds are not real. The trade buttons for paper trades are distinctly marked in orange for easy recognition. To transition to your live brokerage account, select the logo located at the center of the navigation bar on the mobile app and the Account icon on the desktop app or Webtrade. Why has my paper trading data been reset? Paper trading data may be reset under the following circumstances:
If your data has been cleared, you will need to re-enter any previously held positions. How do I reset my paper trading account? To reset your paper trading account, please follow the instructions below: |
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Can I export my paper trading order records? Yes, you can export your order records from the desktop application. To export, please follow the steps below: |
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Can I view my Day's P&L and Day's Realized P&L? Yes, you can view both your Day's P&L and Day's Realized P&L within the Positions widget. To customize the information displayed, select the three-line icon next to Actions to filter your view. |