Most paper trading platforms give you fake fills at perfect prices. Paper simulates the actual market with real-time execution logic, slippage, partial fills, and market dynamics. Plus, we're the only platform that lets you test drive 22 different brokers with their exact rules and restrictions. Train like you'll trade.
When you transition from paper trading to real money, the shock can be devastating. Strategies that worked perfectly in simulation suddenly fail because they never accounted for the messy reality of actual markets.
What most platforms show you
"This trading thing is easy!"
What actually happens in real markets
"Why didn't anyone warn me?"
Paper shows you what trading actually feels like - with all the friction, slippage, and market realities that other platforms ignore.
Every feature designed to mirror real market conditions and prepare you for actual trading. Experience the chaos, complexity, and nuance of real markets without risking a single dollar.
Matching logic based on NBBO, order type, and time priority. Experience realistic fills, not instant perfection.
Add realistic network delays. Test your strategies under different conditions, from retail to HFT scenarios.
Large orders get partial fills based on liquidity. Experience real slippage and price impact modeling.
Trade through halts, circuit breakers, and auction periods. Learn to navigate real market conditions.
Full margin simulation with interest, calls, and liquidations. Accurate fee modeling including SEC, FINRA, and exchange fees.
Track your realized and unrealized gains with accurate cost basis calculations. See your true performance without the complexity of tax implications.
Paper is the only platform that accurately emulates the exact trading rules, restrictions, and behaviors of major brokers. Compare commissions, margin requirements, trading hours, and order types across brokers to find your perfect match.
Experience exact commission structures including per-share pricing, option contract fees, and broker-specific caps
Fidelity starts pre-market at 7am while IBKR starts at 4am - test how this impacts your strategy
Robinhood doesn't allow short selling, Vanguard has no extended hours - know before you go
Test portfolio margin at Schwab, IRA match bonuses at Robinhood, or cash-only at Public
Switch between brokers instantly. Test your strategies across different platforms.
More brokers coming soon
Go beyond basic orders. Paper supports the full spectrum of professional trading strategies and risk management tools you'll find at any major brokerage.
Test strategies with professional margin models before risking real capital.
Execute sophisticated strategies with institutional-grade order types.
Basic shock-based calculation
Complete risk management strategy
Paper is the first trading platform with Model Context Protocol (MCP) integration. Let AI assistants like Claude execute trades, manage portfolios, and analyze markets through simple conversations. Test the future of AI-driven investing in a risk-free environment.
"Buy 100 shares of Apple and set a stop loss at 5% below the current price"
"I'll place that order for you. Current AAPL price is $178.50..."
"Show me the best performing sectors in my portfolio"
"I've analyzed your positions by sector. Technology is up 15.2%..."
Describe complex strategies in plain English
AI agents can place, modify, and cancel orders
Get AI-powered insights on positions and performance
Perfect environment to test AI trading strategies
Access the same realistic trading engine through our REST API. Perfect for building trading bots, testing algorithms, or integrating paper trading into your platform.
Place orders, manage portfolios, access market data
Real-time order updates and market data feeds
Enable AI agents to trade on your behalf
Python, JavaScript, and Go client libraries
// Place a realistic market order
const API_KEY = 'your_api_key';
const response = await fetch('/api/oms/orders', {
method: 'POST',
headers: {
'X-API-Key': API_KEY,
'Content-Type': 'application/json'
},
body: JSON.stringify({
customerId: '550e8400-e29b-41d4-a716-446655440000',
portfolioId: '660e8400-e29b-41d4-a716-446655440001',
assetClass: 'EQUITY',
symbol: 'AAPL',
side: 'BUY_TO_OPEN',
quantity: 100,
type: 'MARKET',
timeInForce: 'DAY',
latencyProfile: 'COLOCATED'
})
});
const order = await response.json();
console.log(`Filled at: $${order.averageFilledPrice}`);
console.log(`Slippage: ${order.executionQuality?.averageSlippagePercent}%`);Start with our free tier or unlock advanced features for serious traders
Perfect for getting started
For serious traders
For businesses & institutions
Stop practicing in fantasy land. Start training in market reality.
| Feature | Other Platforms | Paper |
|---|---|---|
| Order Execution | Instant fills at displayed price | NBBO matching with queue position |
| Slippage & Impact | No slippage modeling | Volume-aware slippage & market impact |
| Market Conditions | Always available | Halts, auctions, market hours |
| Fee Structure | Simplified or no fees | SEC, TAF, exchange, regulatory fees |
| Margin Calculations | Basic buying power | Reg T & portfolio margin (SIMPLE, SPAN, or TIMS risk engine) |
| Broker Emulation | Generic rules only | 22 brokers with exact rules & restrictions |