Paper trading apps are tools that provide a virtual trading environment to practice your trading strategies without risking real money.
Whether you are a beginner investor or an experienced trader, these apps can help you enhance your trading skills before diving into a real trading scenario.
Once you get the confidence to trade with real money, you will need to open a Demat account. I would suggest opening an account with a discount broker. Discount brokers charge a flat fee per trade irrespective of the trade volume. You can open an account with Zerodha, Upstox or 5paisa.
Best discount broker in India
Zerodha
Zero brokerage on delivery
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Upstox
Zero account opening & AMC fee
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5paisa
Different Plans for different needs
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Let’s discuss the 10 best paper trading apps in India to assist you in finding the perfect one that suits your requirements.
Table of Contents
Best Paper Trading App India
#1. NSE Virtual Trading App 2.0
NSE virtual trading app allows you to paper trade on real-time stock market data. Real-time data provides you with trading results similar to actual market trades for better understanding.
You can trade in stocks and F&O with Rs 50 lakh virtual cash. You can also diversify your investment portfolio of 50 lakhs to earn monthly income in India. If you are slightly experienced, the app can help you test your strategies virtually without risking your money.
The user interface of the NSE paper trading app may not be the smoothest, but it still offers hassle-free virtual trading. Additionally, you have the option to upgrade to the “Pro” subscription, which unlocks advanced analytical tools for a more in-depth trading experience.
Pros
- Free to use with no subscription fees
- Inexpensive subscription plan for in-depth analysis
- Real-time market data for accurate simulations
- Seamless integration with the NSE ecosystem
Cons
- Limited to stocks listed on the NSE
- Basic features compared to advanced trading platforms
- The user interface requires improvement
#2. TradingView
TradingView is a popular platform among traders and investors for its comprehensive charting capabilities and extensive community features.
Along with real-time chart analysis, TradingView also provides a virtual trading environment where you can practice your trading strategies to invest in Sensex, banknifty or nifty 50.
With real-time market data and a wide range of technical analysis tools, TradingView empowers you to make informed trading decisions.
You can also connect with your broker account for real-time trading.
Pros
- Advanced charting capabilities for in-depth analysis
- Access to a large trading community for idea-sharing and collaboration
- Real-time market data for accurate simulations
Cons
- Not primarily designed for paper trading
- Some advanced features may require a subscription
#3. Sensibull
Sensibull is an excellent choice for options trading enthusiasts. This specialized platform offers a dedicated paper trading environment where you can practice trading options without risking real money.
With real-time market data, advanced option chain analysis, and educational resources, Sensibull equips you with the tools you need to learn and master options trading.
Pros
- Specifically designed for options trading practice
- Real-time market data for accurate simulations
- Comprehensive educational resources for beginners
- Backtest your strategies on live market data
Cons
- Limited focus on other trading segments
- Some advanced features may require a paid subscription
You can also read our list of the best broker for option trading in India to know the best broker that suits your requirements.
#4. MoneyBhai
MoneyBhai is a web-based virtual trading app from the Moneycontrol Group.You can access it from your browser like Google Chrome, Safari, or a similar one.
With a 1 crore virtual cash balance, you can trade stocks while learning from real-time market data. You may like to read how much monthly income can you earn by investing 1 crore.
The app allows you to experience the thrill of trading in a risk-free environment in the form of trading games.
MoneyBhai also provides leaderboards and competitions to challenge your trading skills and improve your performance. You can compete with other users by joining different leagues.
Pros
- Real-time market data for realistic simulations
- A competitive environment with different leagues and challenges
- Virtual stock market game to learn with fun
Cons
- Trading is limited to stocks only
- Limited educational resources compared to other platforms
- User interface may not be the most intuitive
#5. Stock Market Challange By Dalal Street Journal
Stock Market Challenge is a dedicated app by Dalal Street Investment Journal for paper trading. With real-time market data, you can practice trading in stocks, create your portfolio and evaluate your performance.
It’s a valuable tool for you whether you want to learn trading or investing while staying informed about the market.
You can also enjoy different trading or investment challenges to compete with fellow traders. You can also learn how to read Japanese candlestick chartto trade in these different investment products including stocks, commodity, mutual funds and currency.
Pros
- Extensive research and analysis tools for investment insights
- Opportunity to practice trading in stocks
- Multiple trading challenges between users
- Get a ranking based on your weekly, monthly or yearly performance
- Free to use
Cons
- Only the stock trading segment is available
#6. StockPe
StockPe is another virtual trading platform that provides easy learning modules and realistic trading tournaments to help you develop your trading skills in a fun way.
StockPe comes with a unique feature of StockPe coins. You earn StockPe coins every time you complete a learning module, or win in a tournament. The best part is that you can convert StockPe coins into Indian rupees.
Pros
- Interactive paper trading platform
- Incentives and rewards for achieving milestones
- Convert reward coins into real money
- High-quality education content
Cons
- Limited technical analysis tools
#7. Neostox
Neostox virtual trading platform allows you to trade with Rs 1 crore virtual money across equities, futures, and options trading.
The platform provides real-time market feed without delays, creating a lifelike trading experience.
Advanced features like options and index analyzers, basket orders, hedge trading, and options chain analysis are available.You can check out the list of best index funds to invest in India.
Neostox is a trusted choice among top management institutes, and you can also generate reports to track your performance.
Pros
- Versatile platform offering trading practice in equities and F&O
- Real-time market data for accurate simulations
- Technical analysis tools to enhance trading strategies
Cons
- Limited educational resources
#8. Stolo
Stolo is a professional options trading app that also offers a paper trading platform within the app.
The best part is that Stolo offers unlimited virtual cash for paper trading. Stolo also allows you to trade in Futures and Options such as BankNifty. You can place unlimited virtual orders and learn trading across Nifty, BankNifty & FinNifty.
With a limited 5-day free trial, this tool is ideal for slightly experienced options traders who have the basic knowledge of options trading and now looking for a professional tool to backtest and implement their strategies.
If you want to do option trading, I would suggest starting investing with Rs 5000 as an initial investment.
Pros
- Simplified interface suitable for beginners
- Real-time market data for realistic simulations
- Unlimited virtual cash
- Virtual trading in Nifty, BankNifty available
Cons
- Only a 5-day free trial is available
#9. ChartMantra
ChartMantra by Economic Times Group is another web-based application that focuses on the technical analysis of charts. You can practice technical analysis using stock charts.
With real-time market data and a range of analytical tools, you can develop and test your chart analysis skills.If you want to learn intraday chart reading, go through our guide on how to read candlestick charts for day trading.
You get Rs 1 lakh as virtual cash that you can refill once utilized making it unlimited for your paper trading.
Pros
- Allows practice of technical analysis on charts
- Real-time market data for accurate simulations
- Suitable for developing chart analysis skills
- All basic charting tools, indicators, and studies available
Cons
- Advanced analysis tools may be limited
#10. Stock Market Simulator
If you want to experience investing in US stock markets virtually, then the Stock Market Simulator is an ideal choice.You get $100,000 as virtual cash to use in your virtual trades.
Stock Market Simulator app also allows you to paper trade in 200 different assets including forex and commodities like gold, silver, and others. It provides advanced tools and features to simulate trading in the currency and commodities markets.
With access to real-time market data and extensive educational resources, you can gain a deeper understanding of not only US markets but also gain knowledge about different trading segments and refine your trading strategies.
Pros
- Comprehensive paper trading environment for US markets
- Learn forex and commodity trading virtually without money
- Advanced tools and features for in-depth analysis
- Extensive educational resources to learn trading and portfolio creation
Cons
- The user interface may be overwhelming for beginners
You can also go through our article on the best apps to invest in US stocks from India to know about other stock investment apps focused on US markets.
Conclusion
If you are looking for a free paper trading app to learn stock trading with real-time market data, then go with NSE Virtual Trading App 2.0 can be an ideal choice.
If options trading is your prime focus, then try Sensibull which is explicitly designed for options trading, it offers virtual trading with real-time market data, advanced option chain analysis, and educational resources for beginners.
TradingView is another high-quality charting tool with an inbuilt paper trading feature that allows you to test your trading strategies virtually.
One bonus app that I really liked is the Stock Market Simulator which offers a comprehensive paper trading environment for stocks, forex, and commodity trading in US markets. If you are comfortable with US markets, this app can be the most versatile paper trading app to learn trading in different segments.
FAQs
What is paper trading, and why is it important for beginners?
Paper trading refers to simulated trading where traders practice their strategies without using real money. It is crucial for beginners as it allows them to gain practical experience, test trading strategies, and understand market dynamics without risking capital.
Are paper trading apps free to use?
Many paper trading apps offer free access to their basic features, while some may require a paid subscription for advanced features and additional benefits.
Can paper trading guarantee success in real trading?
Paper trading helps develop trading skills and understanding but does not guarantee success in real trading. Emotions and real money at stake can have a significant impact on trading decisions.
Can I switch from paper trading to real trading easily?
While paper trading can provide a good foundation, transitioning to real trading requires additional considerations, such as risk management, money management, and dealing with emotions. It’s essential to start with small positions and gradually increase exposure.
Can I access paper trading apps on mobile devices?
Yes, most paper trading apps offer mobile versions for convenient access and on-the-go practice.
