Brokers With Virtual Stock Trading Tools
There is nothing more useful for active traders than a virtual trading platform. Both novice and experienced investors alike can learn a great deal about trading, investment strategies and more by making virtual trades via this training tool and by reviewing the outcomes. Virtual trading (sometimes known as paper trading) isn’t available on every broker’s menu, but there are a few stock brokers that do offer it. We offer a list of such brokerages below.
Scottrade
- The Scottrade Elite Advanced Trading Platform offers account holders the opportunity to demo or test drive the real trading platform by letting them make virtual trades with $100,000 of play money.
- The virtual trading demo gives users the same access to real streaming quotes, charting, independent research and more.
- Quickly locate trading strategies that fit your trading personality by using the Trade-Ideas tool found within the Elite Trading platform.
- The Back-Testing tool will look over your past virtual trades and analyze them, helping you identify what works and what doesn’t before you commit real cash.
| Stock Trades | Options Base | Options Contract | Minimum Deposit | Broker Assisted | Fund Trades |
| $7.00 | $7.00 | $1.25 | $500.00 | $27.00 | $0.00 - $17.00 |
OptionsHouse
- OptionsHouse offers a virtual platform that allows account holders to test trading strategies for both stocks and options.
- The virtual trading platform mimics the real trading platform which allows users a chance to get familiar with the system before using real money to trade.
- OptionsHouse allows you to fund your virtual trading account with $5,000 in virtual dollars.
- OptionsHouse combines their virtual trading platform with powerful tools including streaming quotes and volatility assessments.
- All new and existing account holders have the option of using the virtual trading tool.
| Stock Trades | Options Base | Options Contract | Minimum Deposit | Broker Assisted | Fund Trades |
| $3.95 | $8.50 | $0.15 | $0.00 | $3.95 | $9.95 |
Zecco
- Zecco is one of few brokers in the marketplace today that offers a virtual trading platform for forex trading (or foreign currency trading).
- Zecco also offers the Zecco Zimulator that allows investors to trade in a virtual environment.
- By using the Zimulator application, you can review real world results and test investment strategies for viability before placing real money on the line.
- Advanced traders can use the virtual trading platform to formulate and test new strategies and compare them to tried and true approaches.
- Get additional support from Zecco Community forums, news publications, blogs and more.
| Stock Trades | Options Base | Options Contract | Minimum Deposit | Broker Assisted | Fund Trades |
| $4.50 | $4.50 | $0.50 | $0.00 | $19.99 | $10.00 |
OptionsXpress
- OptionsXpress allows their account holders the opportunity to “get their feet wet” by using a virtual trading platform.
- New traders and experienced traders alike can get hands-on experience testing trading strategies with virtual cash before risking real money.
- Not only can you test stock and options trading strategies, but also futures trading ideas.
- Novice traders can learn the ropes of trading all types of securities and can become familiar with the OptionsXpress trading platform by using the virtual trading tool.
| Stock Trades | Options Base | Options Contract | Minimum Deposit | Broker Assisted | Fund Trades |
| $9.95 | $0.00 | $1.50 | $0.00 | $9.95 | $9.95 + LOAD FEE |
tradeMONSTER
| Stock Trades | Options Base | Options Contract | Minimum Deposit | Broker Assisted | Fund Trades |
| $7.50 | $0.00 | $0.50 | $2,000.00 | $7.50 | $0.00 - $15.00 |
LightWave Trading Platform
- The LightWave Trading Platform™ ("LightWave Trading Suite" or "LightWave") is a comprehensive trading platform that allows you to view, analyze and execute trades in the same program.
- LightWave makes it easy for you to manage your FOREX, stock, futures and options trades from one central location, providing you with proprietary Pressure Charts that have been used by over 160,000 people in their trading, as well as Price Charts for more advanced trade analysis.
- You can practice paper trading through the LightWave environment, without having to risk money.
- Experience seamless trade executions through their brokerage firm.
- Get a 20% discount on MB Trading commissions (only for those who have a funded MB Trading account).
AC-Markets
- AC-Markets offers one of only a few virtual trading platforms for forex trading.
- Practice accounts can be set up in minutes and can be used on your desktop, on the Web or on your cellular phone.
- The application is fully customizable, making it one of the most user-friendly interfaces in the market.
- Virtual accounts have the same access to robust trading tools such as real time streaming quotes and advanced monitoring applications.
- The virtual trading platform allows users to easily construct very simple or extremely complex trading plans.
Try Virtual Stock Trading Before Putting Money On The Line
When it comes to learning the ropes on the open market, there is no better way to learn about trading than by actually executing some trades. What’s nice is that more and more brokers are offering virtual trading platforms that allow you to make trades with play money, giving you the opportunity to see your trading strategy in action before you risk your hard earned money. It's an environment that allows you to adjust your trades where necessary. While online brokers are well known for offering such a service, some full service brokers are starting to come around and offer them as well. Here are some things you should be on the lookout for when looking for a broker with a virtual trading platform:
- Cost. Access to a broker’s virtual trading tools should be free. Period. Why? Because so many brokers offer this service for free that there is little justification for having to pay to use it. Most online stock brokers simply require you to open an account. In most cases, you don’t even have to fund it immediately before gaining access to the virtual trading tools.
- Easy to use platform. In most cases, the virtual trading platform is an exact replica of the actual trading platform you will be using to make trades in the real world. This means that if you don’t understand it when you make paper trades, chances are that you still won’t understand it when you move into actual trading. This isn’t to say that there won’t be a learning curve involved when it comes to making your first few trades, but it does mean that you should work to hone your trading skills by fully exercising the features of the tool.
- Educational materials. Paper trading is all about learning. There’s no point in seeing strategies fail and not understanding why they failed. So, having access to a virtual trading platform is great, but it means nothing if you aren't able to use it with any context. Receiving additional informational resources, support and tutorials from your broker would add so much more value to your learning process.
- Customer support. The customer and technical support teams are important elements of any broker service and both are key to helping you learn how to use their trading platform. Look for brokers with a good customer service team and you can be confident that you are in good hands.
Paper trading platforms are truly helpful tools for traders of all types; however, it is almost a necessity for novice traders. Many traders find that having a practice platform gives them a huge advantage over the competition when it comes to strategy development and adjustment. Virtual trading environments also allow traders to find the right trading vehicles and to develop their own personal trading profiles, which are important requirements for trading success. So when deciding which broker would be a fit for your requirements, look into those brokerages that offer virtual trading as part of their suite of trading tools, and reap the benefits of risk free trading.
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