By using stock market simulators, you can easily practise trading and investing without facing the risk of losing the real money.
The stock market tends to be turbulent and intricate. While they are still learning the ins and outs of the stock market, it is far too simple for novice traders and investors to lose money.
New investors can practise making virtual money investments with paper trading. On a simulated stock market platform, users may purchase and sell equities. You may read up on the best paper trading apps in India for Indian investors when you’re ready to trade with real money.
For your reference, we have highlighted some of the most popular paper trading apps in India that are found to be best for Indian investors.
What is a paper trading app?
A paper trading app is essentially a stock trading app that allows users to invest in stocks that mimics a real-world stock trading app. This app features a simulated stock trading environment for its users that can learn the basics of stock trading without losing the real money.
It is found to be a wonderful way for new investors to practice stock trading by trying different stock trading strategies and then move to a full-fledged real-world stock trading app for better outcomes.
Benefits of Using A Paper Trading App
A paper trading app is a software that allows users to purchase and sell stocks and other investments using virtual money. For novices who wish to experience trading without risking actual money, it’s great. It’s sometimes used by even seasoned traders to test out new tactics.
You are given virtual money to employ in the simulated market when you open a paper trading account. You may view how your transactions would perform in an actual market by using the platform’s real-time market data.
The main benefit is that you may practise without having to spend any of your hard-earned money. This is quite beneficial if you’re just starting off in trading. You don’t have to lose actual money to make errors and grow from them.
Top Free Paper Trading Apps For Indian Investors
If you are looking for the best paper trading app in India, you can browse through the following options available for usage.
1. Trading View
For those who trade and invest, TradingView is a preferred paper trading app. It is widely renowned for having sophisticated charts and a sizable user base that engages in trading idea discussion. It goes beyond that, though. You may practise trading with Trading View without risking real money. Before entering the real stock market, you may test your trading strategies on it using indexes like Sensex, Bank Nifty, or Nifty 50.
Its salient features are:
- Great charts
- Wide community
- Actual data
- Option to switch to real trade
2. Frontpage
India’s leading trading community loves FrontPage’s user-friendly paper trading programme. Using FrontPage for paper trading has the same sensation as trading through an actual brokerage. You begin with a healthy INR 10 Lakh margin, and you can reset it at any moment if you ever need more.
Salient Features:
- Real-world practice
- Trading across different sectors
- Huge amount for investment
- Trading community access
3. Sensibull
Initiated by Abid Hassan and Abhimanyu, Sensibull is an options trading business that has raised Rs 2.5 crores. With the latest release of its “Options trading platform,” the firm hopes to let small traders trade options more quickly and easily.
Based on a trader’s perspective on the market, the platform recommends a number of methods. Additionally, it gives you access to all the necessary data, including trade, strike prices, risk, possible profit and loss, etc. To choose the best option strategy for you, you may also compare several option methods.
Features:
- Strong emphasis on options trading
- Real time market data
- Tremendous line of learning resources
- Practice trading strategies using live market info
4. Moneypot
Moneypot is another best paper trading app in India for different types of stock investors. The paper trading app comes with a host of features that allow its users to practice stock trading without getting into the fear of losing your hard-earned money.
A user can participate in a number of virtual trading challenges and rivalries. Moneypot offers educational resources to expand your knowledge about investment. It’s a fantastic method to increase your expertise.
Features:
- Insightful learning content
- Virtual trading challenges
- User-friendly interface
- Virtual currency of Rs. 2 lakh
5. Dalal Street Investment Journal
A well-known virtual trading platform in India is offered by DSIJ, which provides an excellent environment for learning about trading nuances and trying out different investing strategies.
The users on the app get a virtual money of Rs 1,000,0000 when you sign up to start building your investing portfolio. This enables you to practise without actual financial risk by giving you access to one million rupees of virtual money for trading and investing.
Features:
- Excellent user interface
- Diverse trading strategies to choose from
- Great amounts of learning content
The Conclusion
The most salient advantage of using the best paper trading app in India is that you can practice stock trading in a safer and easier environment. This way, you can gain hands-on knowledge of stock trading virtually before going with real-world stock trading.
Without taking a financial risk, you may observe what works and what doesn’t. This implies that you can improve your trading techniques and tactics before using actual money.
