Trading is notoriously challenging, with most beginners losing money initially. However, losing capital isn’t a prerequisite for learning. Stock market simulators—also known as "paper trading" platforms—allow you to practice with virtual money under live market conditions, eliminating financial risk while honing your strategies.
Here’s a curated list of the top simulators for traders and investors, each offering unique features to match different needs.
1. TradingView
- Best for: Active traders (day/swing trading)
- Platform: Desktop
- Cost: $16.95/month (after 30-day free trial)
👉 TradingView’s Bar Replay mode lets you simulate trades using historical data. Ideal for testing strategies with customizable indicators and timeframes.
Pros:
- Intuitive, powerful charting tools.
- Seamless integration with live trading workflows.
Cons:
- Requires a paid subscription for full features.
2. eToro
- Best for: New investors
- Platform: Desktop/mobile
- Cost: Free demo account ($100K virtual funds)
Features:
- Social investing (CopyTrader).
- Real-time stock/crypto trading practice.
Why choose eToro?
- Mobile-friendly with a real brokerage feel.
3. thinkorswim (Schwab)
- Best for: Advanced traders
- Platform: Desktop/mobile
- Cost: Free
Highlights:
- Simulates stocks, options, futures.
- Robust backtesting capabilities.
Note: Steep learning curve but unmatched for active trading.
4. TradeStation
- Best for: Algorithmic traders
- Platform: Desktop/mobile
- Cost: Free
Pros:
- Real-time data and backtesting.
- Identical interface to live trading.
5. Moomoo
- Best for: Mobile traders
- Platform: Mobile/desktop
- Cost: Free (+ free stock bonuses)
Standout feature:
- U.S./international market access.
Honorable Mentions:
- MarketWatch – Great for educational games.
- NinjaTrader – Best for futures trading.
- HowTheMarketWorks – Beginner-friendly.
- Pilot Trading – Algorithmic signals.
What Is a Stock Market Simulator?
A simulator replicates real-market trading using virtual funds. Key benefits:
- Test strategies risk-free.
- Learn order execution and emotional control.
Pro Tip: Simulators are essential for day traders but also useful for long-term investors.
How We Chose These Simulators
- Core features (e.g., real-time data, usability).
- Cost/value.
- Audience alignment (beginners vs. pros).
Final Verdict
Top Picks:
- Desktop: TradingView or TradeStation.
- Mobile: eToro or Moomoo.
👉 Start with TradingView’s free trial to explore advanced charting. For brokerage-like practice, try eToro or thinkorswim.
FAQ
Q: Are simulators free?
A: Most offer free versions, but advanced features may require payment (e.g., TradingView).
Q: Can I practice options trading?
A: Yes! thinkorswim and TradeStation support options simulations.
Q: How long should I paper trade?
A: Until you consistently execute your strategy profitably—typically 3–6 months.