You can create accounts on various websites to simulate live trading without using real money. This lets you test your performance and experiment with different trading strategies risk-free. The simulation tracks all your hypothetical earnings, profits, and losses as though you were investing actual money. You can build diverse portfolios and explore various ways to find what you’re comfortable with.
Paper trading is beneficial for learning fundamental strategies. This will build your confidence in understanding how trading works, developing your style, and applying your strategies. It’s risk-free and provides a practical learning experience. I recommend practicing on multiple sites for about six months before investing real money.
Here are some sites to get you started:
Additionally, you can engage in paper trading on brokerage sites that offer real trading. The benefit is that if you appreciate the interface and user experience. You can seamlessly transition to investing real money without needing to familiarize yourself with a new platform.
Best broker sites that offer paper trading are:
Please note that there are no affiliate links provided. This list is solely to assist you in getting started with paper trading. As websites frequently update, please excuse any discrepancies.
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