Paper Trading Apps in India: Many of you want to know the best way to learn about the stock market. However, there are many courses from where you can learn the basics of the stock market.
You will learn the most when you would invest yourself in the stock market, without prior knowledge investing real money in the stock market can be risky, where paper trading or virtual trading comes into the picture.
You can do real trading by using virtual money of up to Rs. 1 crore, more than 25 such platforms in India. But in this article, we will tell you about the top 12 platforms where you can do paper trading.
What does paper trading mean?
Paper trading is a simple trading process that you can practice without investing real money, test different trading strategies and understand the workings of the stock market.
Why should we use a paper trading platform?
Paper trading platforms allowed traders to test out different trading strategies and techniques before risking real money in the market.
It also allows new traders to gain experience and confidence before committing capital. Many paper trading platforms offer the ability to trade options and futures contracts. [Paper Trading Apps in India]
List of 13 Best Paper Trading Apps in India For Practice:
1, Frontpage
2. Trading View
3. Zerodha
4. Sensibull
5. Money Bhai
6. Neostox
7. Dalal Street Investment Journal
8. Investopedia
9. NSE Virtual Trading App 2.0
10. Moneypot
11. Stockpe
12. Chart Mantra
13. NSE Pathshala
1. FRONTPAGE
Frontpage is the most popular app for paper trading in India. It offers a user-friendly platform for individuals to practice trading in Stocks, Options and Cryptocurrencies without risking real money.
When you log in to this app and instantly you get virtual cash of Rs. 10 lakhs. Frontpage offers educational resources like tutorials, articles and webiners to learn about stock market concepts and improve skills.
Basically, Frontpage is a community-based paper trading app that has a community of traders and allows you to do paper trading and the best part is that it’s available on both iOS and Android.
This app’s community engagement through forum websites, social features, chat rooms and also allows to share insights, discuss strategies and learn from each other.
The app provides real-time market data, enabling users to make informed trading decisions and stay updated on price movements. This app also provides charts, customizable watchlists, technical indicators etc to help users to track their favorite stocks. [Paper Trading Apps in India]
2. TRADING VIEW
Trading View is a US-based fintech company and globally it’s the biggest paper trading app. In India also it’s getting famous and being popular.
If you want to learn about technical parameters and charts of the stock market, then Trading View is the best platform for you. Trading View initially gives you $1,00,000 which is Rs. 83,00,000.
It’s also not completely free, it has four variants. The basic plan is free and the most expensive plan is for rupees 5000/- per month which is for pro traders.
But if you are a beginner or you just want to learn the basics then the free version is also fine for you. But later on, if you want to update then Trading View gives you a free trial of 1 month.
In the basic plan, you can open one chart in a tab or apply 2 indicators in a chart. There is no such restriction in the premium plan You can integrate trading view with leading platforms like Zerodha, Upstox and Groww, you can see those charts in the trading apps as well. [Paper Trading Apps in India]
Read Also: 8 Best Paper Trading Apps for iOS in India
3. ZERODHA
Zerodha is a great paper trading tool for beginners and experienced traders to practice or to learn about the stock market, understand market dynamics and gain trading experience without risking real money.
You can practice buying and selling stocks, commodities and derivatives using virtual money.
This platform provides technical indicators and charting tools to analyse market trends and understand trading strategies. You also can place various types of orders like market orders, limit orders, bracket orders and stop-loss orders.
4. SENSIBULL
Sensibull is not like other paper trading apps, you don’t get any virtual money in this. This is just for you to learn about options trading.
This platform is created to teach you options trading strategy which is called Sensibull. You can Integrate Sensibull with Zerodha, Alice Blue, 5 paisa, ICICI direct, Angel Broking etc.
You get 3 plans in this, the basic plan is free and covers a lot of things. The pro version is for Rs. 1300/- per month. If you are thinking of doing options trading, it’s advised to practice your strategies on Sensibull before trading with real money. [Paper Trading Apps in India]
5. MONEY BHAI
Money Bhai is a paper trading app created by Moneycontrol. Real-time data and news updates are also provided on this platform so that you can stay up to date with the latest market trends.
Money Bhai offers a leaderboard from which you can compete with other traders to see how you are performing in comparison to them.
As soon as you register you get virtual cash and an intraday limit of Rs. 1 crore. With this virtual cash, you can invest or trade in stocks, derivatives, commodities, currencies, Mutual Funds, FD, etc where Money Bhai gives you a real stock market feel.
We are saying this due to two reasons – First, Money Bhai uses the real-time data of the stock market without any lag.
Second, whenever you invest in the stock market via Money Bhai just like the real stock market it deducts brokerage, STT and other charges.
So you know that in the stock market, you have to pay a cost of every action. You can earn money by participating investment challenges in Money Bhai.
The leaderboard updates in every 20 minutes, You can see the investment strategies of the leaders and act accordingly.
Money Bhai is very user-friendly, if you are a complete beginner then Money Bhai is from where you should start your journey with. [Paper Trading Apps in India]
6. NEOSTOX
Neostox is the product of an Indian fintech company, like Money Bhai you get a virtual cash of Rs. 1 crore in this platform, which can be used in equities, FNO and commodities.
You get virtual cash of up to Rs. 10 lakh and you can upgrade it to Rs. 1 crore. Unlike Money Bhai and other paper trading apps, Neostox is not completely free.
You get three variants in this, the basic variant is completely free, in this you can only do 3 trades in a day. In this you get virtual cash of only rupees 5 lakhs and if you want to increase that or upgrade that then you have to pay extra for that.
The costliest variant is of rupees 899/- per month which gives you full access to the app 1 cr of virtual money and the option of topping up to unlimited money. You get access to inbuilt strategies also. The interface is modern and updates in real time without lags.
Read Also: How to Control Emotions in Trading?
7. DALAL STREET INVESTMENT JOURNAL ( DSIJ )
Dalal Street Investment Journal (DSIJ) is one of the oldest-running magazines on investing run in association with the Bombay Stock Exchange (BSE).
DSIJ Conducts a stock market challenge where it gives you virtual cash of Rs.1 lakh, with this virtual cash you have to create a Portfolio. You can invest in Stocks, Commodities, Futures & Options, Currencies etc.
Although it’s a really good app for beginners but what we really liked was the community experience it offered, you can share your strategies with other traders and you can learn strategies from others as well. [Paper Trading Apps in India]
8. INVESTOPEDIA
Investopedia is a well-known website that offers a paper trading simulator. In this simulator, you can practice trading in stocks and options.
You will be able to create a virtual portfolio on this platform and will also be able to track your progress.
So if you want to gain experience and learn about the financial market without risking real money, then Investopedia would be an excellent choice.
9. NSE VIRTUAL TRADING APP 2.0
NSE Virtual Trading App 2.0 is an upgraded version of the virtual trading platform which is provided by the National Stock Exchange (NSE) of India. In this platform, you can practice trading strategies without risking real money.
This platform initially gives you up to Rs. 50 lakhs and also provides live market data, charts, tools, technical indicators stock quotes etc.
One of the finest thing of the NSE virtual trading app is its user-friendly interface where you can create watchlists or you can place buying and selling orders just like in a real trading scenario. [Paper Trading Apps in India]
10. MONEYPOT
Moneypot is another popular app in India which is a user-friendly interface and also allows users to practice trading without risking real money.
Moneypot offers various types of features such as real-time market data, social interaction through leaderboards and competitions and the ability to create custom trading challenges.
Moneypot is a useful tool for beginners to learn about the stock market and also users can create virtual portfolios, test their strategies, track their performance and gain confidence in their abilities in a simulated market environment.
11. STOCKPE
Stockpe is also another great app for paper trading, this app is for both beginners and experienced traders and also provides a user-friendly interface to practice trading in stocks, futures, options, commodities and currencies without risking real money.
It also offers a wide range of features including real-time market data, educational resources and virtual portfolios. You can access in Stockpe charts, live quotes and news updates to stay informed about the latest market trends.
This app is designed to be very simple to help traders to navigate their various sections like watchlists, order placement and account management. Stockpe is a very valuable app for those who want to gain experience without risking real money in the financial market. [Paper Trading Apps in India]
Read Also: 10 Best Websites for Stock Market News in India
12. CHART MANTRA
Chart Mantra is another popular paper trading platform where you can practice trading without risking real money. This app offers traders the opportunity to practice trading in stocks, mutual funds, commodities and currencies using virtual money.
One of the best features of Chart Mantra is a wide range of charting tools and indicators and also provides educational resources such as articles, tutorials and webinars to help traders to learn about trading strategies.
These resources are very helpful for beginners who want to gain knowledge in trading.
In this app, you can practice technical analysis, fundamental analysis and market trends and you also can analyse charts, track price movements and identify patterns to make informed trading decisions.
This app also provides various features like real-time market data and virtual portfolios and also you can compete with other traders to see how you are performing in comparison to them.
Overall, Chart Mantra is a great app through which you can practice about stock market without any financial risk. [Paper Trading Apps in India]
13. NSE PATHSHALA
NSE Pathshala is a free online learning platform created by the National Stock Exchange. On this platform, you can practice trading in stocks and futures. This platform also provides educational resources and articles about the stock market, that’s why this platform is very good for beginners who want to learn about investing and trading.
Read Also: How to Be a Pro in Trading?
Conclusion
Through paper trading, you can improve your trading skills and practice before investing in the real stock market. In paper trading, you don’t have any risk due to the use of virtual money and through this, you can gain basic knowledge of the stock market.
Paper trading apps are great things to learn about the stock market and improve your trading skills. These apps are especially useful for beginners who want to learn trading without investing real money.
All these apps are for virtual trading which provides real market experience through which you get an idea about the real market and boost your confidence level.
Hope you liked the information given by us, so if you want to learn trading in the future then you can read our other articles on our website because this website is dedicated to trading only, so if you face any problem or have any questions related to trading then you can tell us by commenting below. [Paper Trading Apps in India]
Read Also: 12 Best Stocks to Invest During Elections 2024
Frequently Asked Questions (FAQs)
1. Is paper trading good for beginners?
Yes, paper trading is very useful for beginners and experienced traders to practice and to learn about the Stock Market. Beginners should be aware that paper trading is significantly different from real-market scenarios.
2. Is paper trading safe?
Paper trading is considered safe because it doesn’t involve financial risk. Paper trading is an amazing way for beginners to practice trading strategies and learn without the fear of losing money.
3. Can I do paper trading without a Demat account?
Yes, you can do paper trading without a demat account. Many trading platforms offer paper trading accounts that simulate real market conditions without the need for a demat account.
4. Is paper trading free?
Yes, paper trading is free. Many trading platforms Like Zerodha, Upstox, Moneycontrol etc offer Paper trading functionally as part of their services at no cost. Paper trading platforms are valuable tools for beginners where they can learn and practice trading strategies without risking real money.
5. What are the advantages of paper trading?
- Demat and trading accounts is not required
- You can boost your confidence level with the help of paper trading.
- You can test various trading strategies without risking real money.
- You don’t need a single rupee to start paper trading.
- You are not likely to lose any capital.
6. What are the disadvantages of paper trading?
- Lack of emotional involvement.
- Feedback from paper trading may be delayed or incomplete.
- Traders may underestimate the challenges of rail trading and the emotional impact of risking actual capital.
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