PaperTrader

before risking real money

Test your investment strategies without putting your assets on the line!

Use PaperTrader to trade in a risk-free virtual online trading environment for free!

What is Place Trade's PaperTrader?

PaperTrader is a virtual trading application or simulated trading environment which allows users to explore and test investment strategies before risking their real money in the markets as well as providing a great environment to play around and become comfortable with the trading platform and its tools, and learn the market dynamics of new exchanges and products without the actual risk or pressure that accompanies trading with real money in real market conditions. Real market conditions govern trades executed through PaperTrader accounts, which are linked to active Place Trader Workstation (TWS) accounts.¹

• Test Place Trader Workstation’s full range of trading facilities risk-free In your with the Place Trade PaperTrader.
• Trade in real time/live market conditions (during live market hours). Real-time/live market conditions govern all trades executed through PaperTrader accounts.¹
• PaperTrader accounts are linked to active Place Trader Workstation (TWS) accounts where all trading permissions, as well as market data and research subscriptions, will apply in the same way as you have them in your live account.¹

How Your Place Trade PaperTrader Account Works:

• Your Place Trade PaperTrader works like your regular Place Trader Workstation (TWS) application. Most order types, equity contracts, and trading tools that are available through your real-world account will be accessible via the simulator.
• Trades executed through the PaperTrader won’t appear on any securities exchange or pass through a clearinghouse, but the trade prices that you view in your simulation account are determined by real-time market prices and quantities.
• When your account is activated, you will be granted USD 1,000,000 in paper trading Equity with Loan Value, but your equity fluctuates according to market movements once invested (just like in a real-world account).
• Conveniently, your trading permissions, market data subscriptions, base currency, and account configurations in PaperTrader match those you have set for your production account. You won’t have to worry about reconstructing your ideal platform.
• Online statements for your simulated account are posted daily in Account Management and if your paper trading equity dips, you can reset your cash supply at any time (the equity will be available for trading the following business day) in the same menu.

Limitations:

Although the Place Trade PaperTrader is a highly capable application, a few differences between PaperTrader and the Place Trader Workstation arise due to variances in construction.

Most of the features available through a production account have been replicated in the simulator, but the following inherent limitations remain:

• VWAP, Auction, RFQ, and Pegged to Market order types are not supported
• Fills are simulated from the top of the book; no deep book access is available
• Combo and EFP trading are limited
• Behavior differing slightly from that of a Place Trader Workstation account may result from the fact that stops and other complex order types are always simulated in paper trading
• The simulator does not support penny trading for US Options: although you can still submit an order, it will not receive a penny fill
• PaperTrader rejects the remainder of any exchange-directed market order that is only partially carried out. This may or may not match the behavior of a real-world exchange. Market orders received while there is no quote on the opposite side will be held until the market data arrives (i.e. until the first partial fill).
• Mutual fund trading is not supported at this time.

How to create a PaperTrader (Virtual Trading) account 

Please note that you must have an approved and funded online trading account with Place Trade before you can open a paper trading account. If you do not have a Place Trade yet and you wish to Demo the trading platforms, you can still do so via this link, however, you will not be able to save any of your trade data, preference, etc. like you can within your paper trader account. 

Please Note:

You will be required to create a new username and password and you will have a different account number for your paper trading account (so that it is completely separate from your live account - you do not want to get paper and live accounts confused)

Your PaperTrader account will be active and ready to use within 24 hours under normal business conditions.

You may log into PaperTrader at any time through the Place Trader Workstation login box (using yourPaperTrader account's username and password).

If you log into any trading platform using your regular username and platform you will be logged into the live account and any trades or activity placed in the live account will be executed as normal. You must log into your PaperTrader account using your PaperTrader username and password to be assured that you are in your PaperTrader account. You will notice a bright red line informing you that you are in a simulated trading environment when you are logged into your  PaperTrader account.

A powerful trading platform that allows you to view and trade on markets worldwide, all from one screen. Place Trader Workstation (TWS) is designed with the active trader in mind.

¹ If you do not subscribe to live data and you choose to receive delayed data instead, then you will not receive live data in your paper trading account either, in this case, you will only receive delayed data. If you subscribe to live market data in your regular account you will also receive live data in your paper trading account.