Best Paper Trading Websites in India

A trader’s trading account contains real money, so any profit or loss is a very real outcome. In the event of losses, this naturally causes emotional issues, especially for newcomers. Thankfully, there are many websites dedicated to paper trading. Paper trading is substitutes of actual money because here all gains and losses are virtual. The ability to become familiar with the platform and the buying and selling process before risking real money is the advantage of virtual trading.

Given its benefits, a number of websites and online brokers now provide paper trading accounts to their client. Here, we’ve collected a list of the top platforms and websites for paper trading.

#1 TradingView – Most Popular Among All Paper Trading Platforms

The majority of traders and investors sign up for a TradingView account because of its extra features, like advanced charting. A virtual trading account is created with a $100,000 balance that the user can use but later they can add more as per requirements.

Access to PowerX Optimizer is available through TradingView’s paper trading feature, which can assist users with potential trades. Users can simultaneously open multiple charts in TradingView’s paper trading simulator. These characteristics of TradingView place it at the top of the list of the best websites for paper trading.

#2 Neostox Trading

The Neostox virtual trading platform was created especially for the Indian market by Neostox, which is an Indian fintech company. Users have the option of practising with virtual funds up to INR 1 crore, which can be used to trade in a variety of market segments, such as equities, FnO, and commodities. Users of the Neostox app receive real-time market feed immediately, effectively simulating the experience of trading in the real world. A major boost for Neostox’s paper trading platform is that it provides features like option and index analyzers. Neostox is unique from other paper trading websites because here users can create reports.

#3 MoneyBhai

The MoneyBhai website offers a free virtual stock trading platform. Users of this platform can trade in a variety of asset classes, including stocks, futures, options, commodities, and currencies. The MoneyBhai paper trading platform offers INR 1 crore virtual funds in the virtual portfolio account, similar to Neostox. Different orders, including market orders, GTD orders, short selling, GTC orders, and square offs, can be made using this virtual currency. The platform’s lack of charting featuresand that’s which makes technical analysis difficult to use, is a significant flaw. However, the platform’s other features, like portfolio management, tracking, and trading discussion, are popular.

#4 ChartMantra – Virtual Trading Platform With Brokerage

ChartMantra is one of the most well-known paper trading platform and is backed by The Economic Times. Using this platform, users can technically analyse any stock. For use in the trading, the trading simulator platform offers INR 1 lakh in the form of virtual money. The trading experience on ChartMantra comes close to being accurate, and it even takes brokerage into account—an important expense that is frequently overlooked on other paper trading websites.

#5 Sensibull – Paper Trading on Options Also Possible

Even though they have very different dynamics from regular stocks, futures and options have become significant market segments. As a result, paper trading in options enables users to hone their skills in this risky field. Option traders in this situation have a good choice in Sensibull virtual trading. Sensibull, like the other options on this list, provides virtual money for paper trading, which can be used to develop and evaluate option strategies. It provides recommendations based on the customer viewpoint of the market, and advanced users can access key data like greeks, payoffs, option chains, and breakeven analysis.

#6 Dalal Street Investment Journal (DSIJ)

The DSIJ offers INR 10 lakh virtual currency for trading. The ability to discuss trading strategies with other traders and gain knowledge from their experiences is the best feature of this paper trading platform. The stock simulation platform claims to have more than 10,000 daily active users and is quite popular among individuals, corporations, and academic institutions.

#7 Wall Street Survivor – Virtual Trading can be Fun

Wall Street Survivor does not agree with the idea of teaching purely through content. They view investing as being more enjoyable, challenging, and financially rewarding than education. Due to the most recent stock data, users can experience a virtual trading platform with actual money on this platform. The stock simulator provides some free courses in addition to a starting balance of $100,000. Users can create their own games, enter monthly competitions, and challenge their friends.

#8 Zerodha – India’s biggest

Another frequently used name on some lists of websites for virtual trading in India is Zerodha. This is not surprising given that Zerodha is the biggest stock broker in India, but in contrast to popular belief, paper trading is not permitted in the main account of Zerodha. Instead, the broker has a different platform called Streak that enables users to not only trade virtually but also backtest different strategies. Users must purchase a subscription because this is a premium product.

Regular users of Zerodha have access to the mock trading sessions that stock exchanges periodically organise.

Virtual Trading – No Magic Wand

Every topic has some positive aspects, but there are also some negative ones, and this is true of virtual or paper trading websites as well. The market’s emotions are its biggest mystery. When there is real money on the line, emotions influence decisions. Investors are frequently emotionally unprepared to handle actual losses because paper trading doesn’t use real money. Investors are impacted very differently by a 20% drawdown in the real world than they are in a virtual one! An efficient way to deal with this issue is for investors to begin real trading at the same time with slight amounts. In this manner, the user gains practical experience without taking a significant financial risk.

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