The sight of losing your hard-earned money can be devastating. While investing in the stock market can increase the chances of you becoming wealthy, the market volatility with no knowledge of market operations, can instead cause you harm.
That is why, traders must strengthen their knowledge and skills, before becoming investors. While you have many courses, practically implementing the learning can be different. This is where paper trading apps become your trading buddy.
What is paper trading?
Paper trading is the process of practicing trading without involving real money. The apps help you learn how to trade in the stock market by buying and selling stocks and practicing trading without using real money. It serves as a simulation for trading activities conducted on paper.
In the earlier time, paper trading involved manually recording hypothetical trading positions, tracking portfolios, and calculating profit and loss on paper. However, with technological evolution the market has witnessed advancements that led to the introduction of various paper trading apps, streamlining the learning process for trading.
These apps now offer a platform for practicing trading skills, allowing users to engage in simulated trading experiences. Moreover, these apps enable users to practice technical analysis through the utilization of real-time technical charts.
Paper trading gives beginners and seasoned investors an environment of actual trading. It helps you manage your emotions while trading as it is the most crucial part of trading. It also allows you to practice applying stop loss and maintaining it.
Therefore, let’s learn about the 10 best paper trading apps in India which will allow you to practice everything you need to become a successful trader, without losing any money.
Paper trading apps in India:
- Suitable for beginners.
- Allows users to paper trade in stocks, options, and futures.
- Clean user interface.
- Real-time market data.
- You have to exit the total quantity of shares and cannot exit half of your purchased shares.
Why is Frontpage the best?
The app provides a clean and simple user interface which is best for beginners. It also allows trading in various trading instruments including stock options and futures. Further, you can also test unlimited strategies on this app.
- Clean and easy-to-use UI
- Offers unlimited strategy testing.
- Provides timely alerts.
- Lets you connect with 10 lac+ traders.
- Real-time market data with accuracy.
Why should you choose Frontpage?
Beginner traders looking for an easy-to-use interface with timely alerts can consider Frontpage as their paper trading partner. With Frontpage you can test unlimited strategies and make your best strategy that gives the best result.
- It provides comprehensive charts for in-depth market analysis.
- The platform connects you with a large and active community of traders and investors.
- It offers live market data for realistic trading practices.
- It is not a dedicated paper trading app, but rather a web-based charting platform.
- You need to have a premium plan to access some advanced features and tools.
Why is TradingView the best?
The platform offers extensive technical analysis tools for traders who largely rely on technical analysis. Further, it offers stock screeners which will be an added benefit. You can also utilize the power of the TradingView community, which consists of millions of traders and investors who share their ideas and insights.
- Real-time trading charts with numerous tools and indicators.
- The large and active community of traders and investors.
- Live market data for stocks, options, futures, forex, and cryptocurrencies.
- Integrates with a broker for direct trading.
- Offers powerful drawing tools for technical analysis.
- It also provides efficient stock screeners.
Why should you choose TradingView?
The platform is largely focused on technical analysis, so it will be best if you want to enhance your trading skills with advanced charting and analysis. However, you also need to learn fundamental analysis to trade as both of these go hand in hand and you can’t ignore the other.
- The platform offers Rs. 1 crore virtual money in your portfolio account.
- Gives the intraday trading limit of Rs. 1 crore virtual money.
- You get real-time market data for trading.
- Offers trading games to practice.
- It lets you participate in competitions to see how you rank.
- Offers a fun way to learn about the stock market.
- You can invest in mutual funds and FDs also.
- No need to have a Demat account for paper trading.
- There are not enough learning sources available on the platform.
- The user interface can be a little bit confusing for beginners.
Why is Moneybhai the best?
The platform refers to itself as an investing simulation game. It lets you participate in various trading competitions which helps you learn through the gaming point of view. Along with this, you can also invest your virtual money in mutual funds and fixed deposits.
- You can start with 1 crore virtual money and trade as you wish.
- Intraday trading limit Rs. 1 crore virtual money.
- Trade stocks with live prices and data.
- You can practice your trading skills in different scenarios.
- It lets you join contests and compete with other traders.
- It also allows you to see who’s doing well and learn from them.
- Offers investing in mutual funds and FDs.
Why should you choose Moneybhai?
Moenybhai gives the 1 crore virtual money in your portfolio account for practicing trading. The interesting part is it also gives you an intraday trading limit of 1 crore virtual money. Further, the platform allows you to practice mutual fund investments and FDs.
4. Chart Mantra
- Access to various charts and technical tools.
- You can learn about charts perfectly on this platform.
- It gives you real-time stock market data.
- You can also connect and interact with other traders and investors.
- The major focus of the platform is on technical analysis and hence it does not give enough importance to other trading aspects.
- The website might look a bit confusing if you are a beginner.
Why Chart Mantra is the best?
Chart Mantra can be your favorite buddy for paper trading as it enables you to master the art of technical analysis and charting. It allows you to practice your trading skills with various technical indicators, tools, and patterns. Further, the platform supports trading in stocks, commodities, and currencies.
- You can start paper trading with Rs 1 lakh and retake it whenever you need more.
- The platform provides technical indicators, tools, and patterns to analyze market movements.
- Real-time stock market data.
- Allows you to talk to other traders and learn from them.
Why should you choose Chart Mantra?
The platform is specialized in the best charting tools. It helps you to learn technical analysis in a simple infographic way and you can also make and test your trading strategies. It also offers various order types including stop-loss orders to practice executing stop-loss orders while managing emotions.
5. Dalal Street
- You can receive a virtual fund of Rs 1 crore to invest and trade.
- Buy and sell stocks with real market data.
- Test various investment strategies and explore the stock market.
- Interact with like-minded participants and share insights, ideas, and strategies.
- Offers buy-sell signals on the latest market movements.
- No other asset classes or markets are supported, only stocks.
- Website design may not be very appealing or user-friendly.
Why is Dalal Street the best?
Dalal Street offers numerous features for traders and investors to practice paper trading. It keeps you updated with the financial market happening with their feature called DSIJ Mindshare. Further, it also provides expert analysis based on stock recommendations and buy/sell notifications.
- Virtual fund of Rs 1 crore to invest and trade as you wish.
- Real-time market data.
- Various investment strategies.
- Discussion group for interactions.
- It offers a feature called DSIJ Mindshare which lets you keep up with the important financial events for the specific day.
- It offers a stock screener feature.
- Provides stock recommendations on expert analysis and opinion.
Why should you choose Dalal Street?
The platform lets you practice paper trading with numerous tools like charting tools, screeners, and strategies. With the expert-backed stock recommendations, you will also get buy/ sell notifications of the same on the app. Dalal Street is also a great place to learn from other traders and investors and broaden your knowledge of the financial markets.
- You get access to real-time market data and virtual cash.
- The platform provides advanced charting tools and indicators.
- You can trade in stocks, options, futures, forex, and cryptocurrencies.
- The platform also offers broker integration and direct trading.
- You get various educational materials.
- You need to have a premium plan to access some features and tools.
- There are also no contests or rewards available for paper trading.
Why is Webull the best?
With Webull you can start paper trading with your demat account as the platform offers broker integration. For beginners, it also offers educational materials to help in understanding basic concepts. With Webull you can also trade different asset classes and markets.
- Real-time market data and virtual cash.
- Advanced charting tools and indicators.
- Trading multiple trading instruments such as stocks, options, futures, forex, and cryptocurrencies.
- Broker integration and direct trading.
- Educational materials
Why should you choose Webull?
With a wide range of technical analysis tools, the platform supports individuals in improving their trading skills by practicing trading strategies with real-time market data and trading different asset classes. It helps you become a confident investment professional for trading with your broker account from the app.
- The platform majorly focuses on options trading.
- It provides real-time market data, advanced option analysis, and learning resources.
- The platform also helps you test your trading strategies using live market data.
- They focus mainly on options trading, which may not be suitable for other types of trading.
- You also need to have a paid subscription for some advanced features.
Why is Sensibull the best?
Sensibull offers advanced tools for paper trading, especially for options trading. The platform helps you learn and practice options trading with real-time market data and advanced options analysis. Further, you can also test your trading strategies and see how they perform in the market.
- You can learn and practice options trading with Sensibull.
- Up-to-date market data for options trading.
- Various tools and indicators to analyze options.
- Educational resources, especially for beginners.
- Allows you to test your trading strategies using live market data.
Why should you choose Sensibull?
You can consider choosing Sensibull if you want to master options trading and practice. Sensibull is a complete package for options traders, offering real-time market data, advanced options analysis, and learning resources, especially for options trading.
8. Zerodha Streak
- Create, backtest, and deploy trading strategies without coding knowledge.
- Access real-time market data, news, and analysis.
- The platform allows you to trade in various trading instruments including stocks, options, futures, commodities, and currencies.
- You can connect with your Zerodha Kite account and trade directly from the app.
- The app requires a Zerodha account to use the app.
- It also requires a premium plan to access some features and tools.
- There are no contests or rewards for paper trading.
Why is Zerodha Streak the best?
With Zerodha Streak you can create your trading strategies without coding and test them with real-time market data. Zerodha Streak allows you to trade in different asset classes. Further, Zerodha Streak also allows you to connect with your Zerodha Kite account and trade directly from the app.
- You can create your strategies and backtest them.
- You can do strategy deployment as well as live trading.
- The platform gives you access to real-time market data, news, and analysis.
- Zerodha Kite integration.
Why should you Zerodha Streak?
Choosing Zerodha Streak helps you create trading strategies without coding knowledge. At the same time, it allows you to practice the strategies created by you with real-time market data. It is also a great app to trade different asset classes and markets with your Zerodha Kite account.
9. Neostox Trading
- You can trade in stocks and more with Rs 1 crore of virtual money.
- Get real-time market data for analysis purposes.
- The platform also provides advanced tools like options and index analyzers, basket orders, hedge trading, and options chain analysis.
- The platform does not provide enough learning resources.
- To use this platform you may need to have some prior knowledge of trading.
Why is Neostox the best?
Neostox Trading is ideal for those who want to try paper trading with large capital. The platform allows you to trade in stocks and more with real-time market data and use advanced tools to help you trade better.
- Rs 1 crore of virtual money for trading stocks.
- Real-time market data.
- Advanced tools like options and index analyzers, basket orders, hedge trading, and options chain analysis.
- Tools for technical analysis to make your trading strategies better.
Why should you choose Neostox?
Choose Neostox trading if you want to practice your trading skills with more capital as the platform provides Rs. 1 crore of virtual money. It offers basket orders, hedge trading, options chain, screeners, and much more. It is also an easy-to-use platform that helps you learn faster.
- Participate in virtual trading challenges and competitions.
- The platform allows you to test your investment strategies.
- You can enhance your trading and investing knowledge through educational materials.
- The platform is user-friendly and customizable.
- The free account has some limits in terms of advanced features.
- You can trade in stocks only; no other trading instruments are available on this platform to trade.
Why is MoneyPot the best?
With MoneyPot you can learn trading by participating in paper trading competitions. You can also access educational resources to expand your knowledge. Further, MoneyPot is an easy-to-use and customizable platform that is suitable even for beginners.
- Paper trading challenges and competitions.
- Virtual currency from Rs. 2 lakh.
- Different educational resources to learn more about investing.
- User-friendly platform.
Why should you choose MoneyPot?
With MoneyPot you can practice your investing skills and learn from other investors’ strategies. With its various features, it is the best platform for traders who want to gain practical knowledge. However, the platform does not allow you to trade for more than a certain amount per game in a single day.
In conclusion, paper trading is the best way to practice trading and enhance your skills. If you are unsure about which paper trading app you should choose, you can compare the above-mentioned options based on their features, pros, and cons. Additionally, you can also check reviews of these apps online to know better about them.
Why is paper trading beneficial?
It helps traders and investors learn the basics of trading, refine strategies, and gain experience without actual money.
Are paper trading apps available in India?
Yes, several paper trading apps in India provide users with a platform to practice trading.
How do paper trading apps work?
These apps simulate real market conditions and allow users to execute trades, track portfolios, and analyze market trends without using actual funds.
Can I practice technical analysis with paper trading apps?
Absolutely, many paper trading apps in India offer features that enable users to practice technical analysis using real-time technical charts.
Are paper trading apps free to use?
In most cases, paper trading apps are free to use, allowing users to practice trading without any financial commitment.