2025 Stock Paper Trading Application Guide: 3 Recommended US Stock Simulation Order Software for Newbies

For investment newbies, relying solely on theoretical learning is not enough; practical operation is even more important! However, at the beginning, of course, one cannot directly use real money to “pay tuition”; at this time, “paper trading” becomes an excellent tool for practicing placing orders and testing investment strategies. This article will introduce several practical stock paper trading applications to help you take your first step in investing!

Recommended Paper Trading Applications for US Stocks

1. Gate

Gate was established in 2013 and is a global investment trading platform regulated by multiple countries. Accounts can be opened in regions such as Asia, Europe, and America, offering a variety of trading products including stocks, indices, foreign exchange, precious metals, commodities, and cryptocurrencies. The platform supports web, mobile app, and desktop versions, making it convenient to operate without having to pay transaction fees, and it also allows for both long and short trading, with leverage of up to 200 times. Due to the large number of users in Taiwan, the platform has developed a very comprehensive localized service, allowing deposits and withdrawals to be made directly in New Taiwan Dollars, along with local customer service support.

Gate Features: ✔ Free Real-time Market Data & paper trading: Provides real-time market quotes, technical analysis tools, one-click order placement and settlement. ✔ Paper trading account gives 50,000 USD virtual funds: practice trading for up to 90 days, allowing newbies to get started without pressure. ✔ Professional team market analysis: including interpretation of major financial news, weekly/daily market reports to help determine investment direction. ✔ Rich investment educational resources: From basic product introductions to technical and fundamental analysis, assisting you to grow from a Newbie to an expert. ✔ 24-hour Chinese customer service: Opening an account on the app is simple, operations are intuitive, and order placement is quick. The web version, desktop version, and app all support paper trading. ✔ Low-threshold actual investment: zero fees, supports New Taiwan Dollar deposits and withdrawals, making it easy for small investors and stock market newbies to get started.

2. InteractiveBrokers

Interactive Brokers (stock code: IBKR) was founded in 1977 and is a globally renowned online brokerage firm headquartered in Greenwich, Connecticut, USA, listed as a public company in the United States. Interactive Brokers allows account opening in Taiwan, China, Hong Kong, Macau, and other Asian regions. Its primary clients include institutional investors, professional traders, and retail investors. There is no minimum deposit requirement for opening an account, allowing small funds to enter the investment market. However, it is important to note that each transaction incurs a commission fee (0.005 USD per share). To open a margin trading account (for leveraged operations), a minimum deposit of 2000 USD (approximately 60,000 New Taiwan Dollars) is required.

Features: ✔ Provides a variety of investment tools, including stocks, futures, options, forex, and bonds. ✔ Supports real-time market quotes, technical analysis tools, order execution, and settlement functions. ✔ There is Chinese customer service available, and you can apply for a paper trading account.

Note: The account opening process is relatively complicated, and the operating interface is also quite complex. Real-time market data requires additional payment, and long-term inactive paper trading accounts may be reclaimed by the system.

3. TD Ameritrade

TD Ameritrade, a long-established online brokerage, was founded in 1975 in Omaha, Nebraska, USA, specializing in the trading of investment products such as stocks, options, foreign exchange, futures, and bonds. Investors from Taiwan, Hong Kong, Macau, and Singapore can open accounts. It is worth noting that TD Ameritrade has been acquired by Charles Schwab, and now entering the TD Ameritrade official website will directly redirect to the Schwab official website. After the acquisition, the $25,000 deposit threshold for Taiwanese users has been removed. However, since transactions are conducted in USD, it is necessary to open a foreign currency account in advance.

Features: ✔ Complete real-time market information, comprehensive investment tools, and provides educational resources for learning while practicing. ✔ Provides Chinese customer service, with dedicated customer service teams in Taiwan and Hong Kong, ensuring smooth communication. ✔ The deposit threshold of $25,000 has been waived for users in Taiwan, allowing even those with small amounts of capital to participate in investments.

Please note that there are two ways to open a paper trading account at Charles Schwab:

1. First, open a real account, and you will automatically receive a paper trading account that can be used permanently. However, the process of opening a real account is relatively complicated and requires providing various personal information.

2. If you only want to test the waters and are unwilling to provide too much personal information, you can choose a short-term paper trading account, which can be used without opening a real account, but this independently applied paper trading account only has a trial period of 30 days. Additionally, please note that there will be some limitations on the varieties and types that can be traded in the paper trading account.

How to Use Stock Paper Trading App? An Operation Guide Using Gate as an Example

The Gate paper trading account offers an initial virtual fund of $50,000 for users to practice trading. This virtual fund does not require any cumbersome application steps, and can be used directly upon logging in after registering an account.

The order process is very simple, just a few steps:

1. Enter the order page and select the stock you want to buy.
2. Set the trading quantity, leverage multiples, and stop loss/ take profit points.
3. Click confirm to complete the transaction!

There are several features for trading stocks on the Gate platform: ✅ You can adjust the leverage multiplier yourself ✅ Supports long and short dual trading (Note that not all brokers provide these features) ✅ In addition, Gate's paper trading account is very considerate: it directly provides $50,000 in virtual funds for practice, without the need to fill out tedious application documents. You can start practicing immediately after registering your account and logging in!

If you want to trade with real funds, the platform will still require KYC identity verification to ensure the safety of your funds.

Gate “Web Version” User Guide:

The operation method for the paper trading order page to buy Tencent stocks (0700.HK) on the web version is as follows:

1. Search for the stock code “0700” (remember to switch to paper trading account)
2. Set the following parameters:
   • Number of Shares
   • Leverage Multiplier
   • Stop loss and take profit points
3. Finally, click the “Buy” button, and you will see the “Order Successful” prompt to complete the operation!

Gate “Mobile App Version” User Guide:

→ After opening the APP, go to 'My' and switch to the paper trading account → Then follow the steps below to place an order!

Of course, if you want to sell stocks, just click the “Sell” button on the left side and then follow the same steps to proceed.

Gate “PC Client” User Guide:

Click here to download the latest PC version → Launch the program and log in → Switch to the “paper trading” account, then follow the steps below:

[Newbie Tips] Although it is paper trading, to practice risk management, it is recommended to set it up like this:

• Set take profit at 30%
• Set stop loss at 10%
• Keep the profit and loss ratio within the range of 3:1. This approach not only helps reduce losses and increase the profit opportunities in paper trading, but also gradually cultivates investment confidence!

【Other Operations】If you want to exit early: just click “Close Position” to manually take profit or stop loss.

Advantages of Practicing with Stock Paper Trading Apps

• Real-time market experience: The stock paper trading app provides real-time quotes and a virtual trading environment, allowing you to practice operations directly in the real market, and quickly grasp the volatility characteristics and trading rules of the stock market.
• Zero-risk practice: Using a stock paper trading app to learn investing allows you to worry-free about losses. You can boldly try various investment strategies and stock selection methods, accumulate practical experience, and only engage in actual capital trading when you are fully prepared.
• Strategy verification convenience: The trading record feature of the paper trading app is very practical, allowing users to review their investment performance at any time, identify blind spots in their operations, adjust trading strategies, and naturally improve their investment skills.

Differences Between Stock Paper Trading App Practice and Actual Operation

[The main differences between paper trading and actual trading] are primarily reflected in the following three points:

The difference in mindset is significant! When using a paper trading account, there is less emotional attachment to profits and losses because it is known that it is not real money. However, when trading with actual invested funds, the emotions of greed and fear become more pronounced in the face of market fluctuations.

Market conditions vary. Paper trading often does not take into account real factors such as fees and liquidity, resulting in a gap from the complexity of the real market, and is not close to the actual situation.

The difference in risk and return is huge! Paper trading uses virtual funds, which do not involve real money risk. However, when trading with actual funds, correct decisions can indeed yield profits, while incorrect decisions may lead to losses, and in severe cases, even affect personal financial situations, making the difference very significant!

Newbie paper trading must-read! Effective practice methods

Learn and apply investment knowledge: After understanding the basic knowledge of stocks, engaging in paper trading practice can help us better understand these fundamental concepts and trading strategies. Therefore, to apply what we've learned, we should review and improve in a timely manner, gradually enhancing our profitability.

Learning by doing is the most practical. First master the basic knowledge of stocks, and then practice through paper trading. This way, the concepts can be firmly remembered, and trading strategies won't remain at a theoretical level! Remember to review the areas for improvement after each trade so that your profit techniques can continue to improve.

Goal setting should be clear and comprehensive: Even with virtual funds, it is important to seriously set limits for “how much profit to take before exiting” and “how much loss to stop”, as this is the way to truly cultivate the courage to cut losses. Losses are also a way to accumulate experience, so do not be afraid!

When formulating a strategy, you need to think clearly first: Before starting, ask yourself: how much risk can you bear? Are you planning to engage in short-term or long-term trading? What goals do you want to achieve? Use paper trading to test the effectiveness of your strategy, and if you find it unsuitable, adjust it immediately!

Do not let your mindset become overly inflated: Although it is virtual money, the consequences of developing bad habits can be very serious! ⚠️ Be sure to avoid: ❌ Investing all in at once ❌ Blind speculative buying ❌ Consider oneself invincible and will not incur losses Once these habits are formed, it is very likely to suffer huge losses during actual operations…

paper trading Frequently Asked Questions

( Q1: How should a Newbie choose a suitable paper trading APP?

A1: When newbies choose paper trading software, it's best to look for platforms that have simple registration, are easy to operate, and run smoothly on the app, while also providing basic analytical tools. The most important thing is to have detailed investment analysis reports and rich educational resources, so that you can learn while operating and gradually accumulate investment experience.

) Q2: What paper trading software would you recommend for newbies in the US stock market?

A2: Newbies can consider platforms like Gate, Interactive Brokers, and Robinhood.

Q3: Is there a big difference between paper trading and actual trading? Can the experience from paper trading be applied to actual trading?

A3: There is indeed a significant difference between paper trading and actual trading, with the biggest distinction being the mindset. In actual trading, managing gains and losses is much more challenging than in paper trading, which is why many people perform excellently in paper trading but encounter substantial losses when operating with real funds.