Many of us are a little wary of investing — especially when it comes to stocks. Virtual trading accounts allow you the chance to practice trading. You can learn what makes a good investment, as well as get the hang of how to use a trading platform.
A virtual trading account uses real-time information to help you gauge your success. You can create and test a trading strategy, build a portfolio, and the actual performance is reflected in your results.
When you are comfortable with the process, you can then start using a live account, and apply what you learned on your virtual account.
Not all stockbrokers offer paper trading to simulate investing. If you are interested in learning a particular platform, it can help to use a virtual account with a stock broker. Some brokers offer virtual trading tools that can help you get hands-on experience in the market, without losing any money. TD Ameritrade is a popular online stock broker that features low pricing and no minimum deposit. It also offers a generous selection of commission-free ETFs and educational tools that should make it a hit with new investors.
TD Ameritrade, with their thinkorswim platform, offers a virtual trading to get your feet wet. So no only can you test out your trades in a taxable account, but also tax-deferred with the IRA option.
TradeStation may be a bit on the pricey side, but it's a decent trading platform for active traders. It has a great selection of investments, including stocks, bonds, ETFs, funds, foreign securities, options and other instruments. TradeStation offers their Simulator that allows you to test risk-free before you trade. Gain real-time, no-cost trading experience — and see the power of fully automated trading firsthand. Ultimately you can test new markets and new strategies — without risking a cent.
With Kapitall, test out stock market theories safely while improving your strategy. Its pricing may be high and it might be slightly limited when it comes to investment options, but Kapitall is one of the more fun platforms out there. Kapitall started out as a stock trading game allowing you to build a virtual portfolio and track its performance.
That option is still there, but now Kapitall is also a brokerage. You can also practice by signing up for stock trading games. MarketWatch offers various games that are free or low cost and can help you learn the ropes. Wall Street Survivor is another trading game that allows you to try different tactics.
In some circumstances, you can earn prizes and cash. Which Brokers Offer Paper Trading? Cons Expensive Limited Investment Options. In the confusing array of investment tools, we want to tell you from our research what we think is the best of the best. TradeStation Review - By Traders for Traders TradeStation may be a bit on the pricey side, but it's a decent trading platform for active traders. Read why in our in-depth review. Could TD Ameritrade be the perfect online discount stock broker?
Read our review to learn more about this popular service. If so, you might want to check out Kapitall. Here's our review of this online broker service.More...