With thinkorswim paperMoney, the market is your trading playground.
paperMoney is the virtual trading experience that lets you practice trading on thinkorswim using real-time market data—all without risking a dime. With our paper trading experience, you'll have access to many of the same products, tools, and features you'd have during live trading within thinkorswim.
Practice trading with $100,000 of virtual buying power.
Trade equities, options, futures1, and forex1 in a live market simulation.
Refine and optimize your trading experience.
See how changes to tool settings and organization can complement your trading workflow.
Track and evaluate your trading performance.
Leverage a range of virtual trade data, including profit and loss analysis, to help validate or refine your trading strategies.
paperMoney is just one of the many features within thinkorswim.
Other thinkorswim features include:
- Elite trading tools that give you the power to scan the market for opportunities, create customizable alerts, and place even the most complex trades
- Built-in access to a wide range of education curated for traders
- Share ideas and insights with other passionate traders in our in-platform chat rooms
thinkorswim paperMoney FAQs:
Paper trading allows traders to practice without risk, but you should approach paper trading with the same seriousness as live trading. Use paper trading to define, test, and evaluate your strategies, including setting rules for your trades, practicing risk management, and testing across market conditions. It's also important to focus on quality setups that align with your strategy instead of overtrading. When you're ready, you can transition thoughtfully to real trading. Paper trading is always available for further practice. Schwab also offers a wide array of live and on-demand education designed for traders at all levels. And you can always talk to one of our trading specialists, they're available 24/7.
thinkorswim paperMoney gives users the opportunity practice trading, refine and optimize strategies, and access many of the same products, tools, and features accessible during live trading within thinkorswim.
Yes, thinkorswim paperMoney is free. It is the virtual trading environment built-in to every thinkorswim platform and available at no cost to Schwab clients.
No, you cannot make money from paper trading, however you can use paper trading experiences like thinkorswim's paperMoney as a risk-free way to practice and hone your strategies in order to help increase your ability to have profitable trading outcomes. paperMoney is a virtual trading experience that lets you practice trading on thinkorswim using real-time market data with $100,000 of virtual buying power.
A Schwab account is required to log in to thinkorswim and use the paperMoney feature. If you don't have a Schwab account but are looking for a way to see what it's like to trade with thinkorswim, you can do that with via Guest Pass.
Yes, thinkorswim paperMoney is good for both beginners and advanced traders alike as it allows you to practice trading on thinkorswim without risking any money, and using real-time market data and $100,000 of virtual buying power.
When choosing a paper trading app, prioritize platforms that offer realistic market simulations with real-time data and a variety of order types to practice effectively. Look for robust features like advanced charting tools and comprehensive portfolio tracking, as well as educational resources. thinkorswim paperMoney allows for a seamless switch to live trading when you're ready with consistency in interface and features between paper and live accounts to help reduce the learning curve.