The enigmatic cycle of profit and loss can get really hard at times in the stock market. Therefore, the right foundational knowledge, good skills, and sufficient exposure can lower the risk. Paper Trading is one such medium through which people can get familiar with the workings of the stock market. 

Paper Trading Or Virtual Trading

Paper trading is also known as virtual trading. The name pretty much explains the concept.

In virtual trading, virtual money is used to carry out real trades. It allows the trader to buy and sell the stocks without the risk of real money. The profit and loss are still real, but the money used will be virtual. This allows the trader to practice trading before he/she/they could enter the market with real money.

Advantages of Paper Trading

  • Paper trading can allow users to test out their unique strategies and assess their success rate before using them during real trade.
  • Paper or virtual trading allows users to experience the market and its execution before investing their actual money in it.
  • No capital is at stake here. A user can learn trading without losing money.
  • Paper or virtual trading also allows you to learn at your own pace. So there is no market pressure or capital stress that hinders learning. 

5 Best Paper Trading Apps In India

Knowledge and practice are key in all discourses. Therefore, it is necessary to invest time in the right paper trading app, where both knowledge and practice can be attained. We have made it easy for you. We have screened all paper trading apps in India and have listed the top 5 paper trading apps to make this journey easy for you.

  1. Stolo
  2. Neostox
  3. TradingView
  4. Sensibull
  5. Chart Mantra
Paper trading Key Features Comparison Chart

 

1. Stolo

Stolo, an all-in-one options trading platform, allows you to learn, practice, and master the art and science of trading on their paper trading app

Stolo comes with more features than one, starting from analysis charts to a well-planned options trading platform which makes it the go-to app for all. So one can learn paper trading and start real trading on the same app without any hassle.

Key Features

  • Live Market Data
  • Provides Unlimited Virtual Capital 
  • All-in-one window terminal for smooth trading
  • Powerful Charts
  • Extensive educational resources

Pros

  • Stolo allows a free trial, so users can experience the application first before subscribing to one of their plans.
  • Provides the user with flexible plans, hence one can choose from varied plan designs.
  • Excellent customer service cell, who will get back to you immediately for any concerns.
  • User-friendly application that eases the process of learning.

Cons

Comparatively new, but that shouldn’t stop you from trying their advanced features. 

2. Neostox

Neostox is a flagship product of Neostox FinTech crafted by market and technical experts to create a user-friendly advanced application for paper trading.

Key Features:

  • Powerful options Analyzer
  • Real-time Market Feed
  • You can Trade equities, futures, or options
  • Neo Screening- analyses market for profit and loss

Pros

  • Measures your progress each day to give you immediate insights into your performance.
  • User-friendly application that makes learning easier for a beginner.

Cons

  • Provides users with limited virtual money.

3. TradingView

TradingView is an advanced charting platform that has excellent tools to help you kick-start your paper trading journey. Founded in 2011, TradingView now has won the trust of many beginners like you.

Key Features:

  • Powerful Charts
  • Global Market Data
  • Access to Stocks and Futures
  • Automated Analysis
  • Networking with Traders

Pros 

  • They provide a 30-day-free trial, a huge boon for all the beginners out there.
  • User-Friendly mobile application that eases the learning process.
  • They provide access to excellent technical analysis tools that are essential during the trade.
  • Affordable plans; attract most customers to TradingView.
  • TradingView provides the user with huge learning resources. There’s no lack of educational materials here.

Cons

  • TradingView is said to have unsatisfactory customer support, due to which most queries are unresolved at times.
  • They are not compatible with all brokers, which is a huge turn-off.

4. Sensibull

Sensibull is another excellent paper trading platform in India that has helped several beginners to learn to trade. They are also one of the most sought-after apps for options trading due to their key features and smooth services.

Key Features:

  • Real-time Update
  • Exclusive Data for Technical Analysis
  • Event Calendar
  • Options Analyser
  • Tutorials

Pros

  • User-Friendly mobile application that eases the learning process.
  • Excellent Customer Care support and well-established FAQ section for all common queries
  • Free educational videos for learning can help beginners in their journey

Cons

Sensibull does not support all brokers for trade execution

5. Chart Mantra

Another prominent paper trading app in India is Chart Mantra. You can learn trading through this user-friendly app, and start your journey in trading with a solid foundation.

Key Features

  • Extensive Educational Resources
  • Access to Charts
  • Access to several technical tools; indicators

 Pros

  • Provides learning materials in varied formats including infographics to make it easier for the user
  • Excellent Customer Care support and well-established FAQ section for all common queries

Cons

  • Limited virtual money
  • Cannot invest in more than one stock at a time

 

Kick-start your trading journey through paper or virtual trading. Patience and learning are key in this arena. Learn more about what paper trading is through this carefully curated article: What is Paper Trading? How it Works & Benefits of Paper Trading