Disclaimer: Information on this site is only for Education Purpose. Don't take our Articles as any Investment or Trading Advice, as we are not SEBI Registered.
Before we discuss the best paper trading websites and apps in India, we will first discuss what paper trading is.
What is Paper Trading?
Paper Trading also known as Virtual Trading is a simulated trade that allows traders to practice their trading strategies or take trades (buying and selling assets, such as stock) in a virtual platform with virtual money, aiming to fullproof their strategies without risking the real money in real market.
Now, that we know what paper trading is, so, let’s discuss why paper trading is important before entering into the real market/before risking real money.
As the Stock Market gains popularity in India, more and more users entering this field in the hope of making quick money, but they are just chasing the lie, and they don’t know that the stock market is more ruthless to newcomers, and in a result more and more retail traders loses money in stock market.
In fact, 95% of retail traders lose money in the stock market, of those 5% who make profits, 4% of them can’t beat the return of FDs. Then what does it mean to trade in the stock market?
But here comes the fact, you can make money in the stock market, but you need to give time to learning stock marekt, reading different stock market books and here comes the role of Paper Trading,
Where users can trade virtually in the live market, to test their strategy, whether it works in the real market or not, with virtual money.
So, now let’s discuss the best Paper Trading websites/Apps in India.
Here are the top 5 best Paper Trading Websites and Apps in India
- TradingView
- Sensibull
- Neostox
let’s start with the first option,
1. TradingView
From the list of the top 5 best paper trading websites, TradingView is the most popular paper trading platform in the market, as it provides a simple and easy-to-use UI with lots of other features that a trader needs to paper trade.
When you first visit, Trading View, just sign up for a new account, which is totally free, and start by opening a chart, whether it be a stocks chart or any Derivatives chart like Options and Futures, then, at the bottom, you will find the Trading Panel, and when you click on the Trading Panel, you will find the Paper Trading option, and simply connect it with Trading View and you are ready to go.
In the new Paper trading account, you will be awarded 1,00,000 USD, for trading from which you can take trades virtually and test your strategy, if it works or not.
The limitation of TradingView is that you can only use 3 Indicators in their free plan with just 1 chart per tab, and for more features, you need to upgrade to a premium plan that costs Rs.995/-month for the Essential plan, which is the starter plan.
2. Sensibull
Sensibull is one of the most used platforms for Options Trading in India, and the best part is you can integrate your broker with sensibull and start trading directly with sensibull account.
It is widely used for making strategies, Backtesting, and Option chain analysis and most importantly you can take benefit of its premium offerings by logging in using Zerodha, as it offers its premium products for Free for Zerodha Kite Users.
To access its Paper Trading facility, you just need to sign in to Sensibull, either by using Zerodha or either by using Google Login, and you can access its paper trading feature for FREE, which is a nice step by Sensibull.
You need to hover on to Trade Section, and then click Draft Portfolios, and you are ready to go.
For initiating trades, Just click on Add New Strategy, and add your desired trades, by searching from the search bar placed in the top right corner. That’s it.
3. NeoStox
Exclusively made for Indian markets, Neostox is a popular Paper Trading platform, gaining popularity in recent years, as a Paper trading platform, where you can trade options, stocks, Intraday, Derivatives, and all kinds of instruments, that you wish to trade in real markets.
Simply visit neostox.com and sign in with simple details, like name, and mobile number, and you are ready to go with a trial plan, because they don’t offer any Free plan, you are automatically signed up for their trial plan, where they grant you Rs.5,00,000 virtual money, from which you can trade.
There is no free plan, so once your trial period is over, you need to upgrade to one of its premium plans, that is Basic, Silver, and Gold which costs Rs.218, 671, and Rs.1120 per month, where you will get a higher number of trade limits, more virtual money with each upgrade and so many other paper trading features.
Conclusion
These above 3 website are my top choices when it comes to Paper Trading in India, as they provide all the essentials you need to trade virtually.
I personally prefer Sensuibull for Paper Trading in derivatives segment, while I uses neostox for Intraday Trading and Tradingview for just realtime market testing.
All three are the best in thier field, where tradingview provides real time data, Sensibull provides Option chain analysis along with pre-built strategies, and Neostox provides essential features for Paper Trading in all segments, as it is built exclusively for Paper Trading.
Faq’s about Paper Trading Website in India
