Paper Trading on Power E*TRADE Takeaways
• Power E*TRADE is an advanced trading platform with a built-in simulator for practice trading.
• Power is available in web-browser and mobile formats, and E*TRADE also offers a desktop version through Power E*TRADE Pro.
• An E*TRADE login is required to use Power in live or demo mode.
• There is no cost to paper trade on Power E*TRADE, and there is no risk, either.
Overview of Paper Trading on Power
Although E*TRADE does have a good website and regular mobile app, both of which are very capable for most trading purposes, the brokerage firm has also rolled out Power. This is a software platform that takes trading to a higher level. It comes in browser and mobile modes, and both systems offer practice trading, which is very helpful for learning the software.
Launching E*TRADE Power in Demo Mode
To get to the web-browser version of Power, you will need to log into the E*TRADE website first. Once inside, go to the dashboard and find the list of platforms under the Launch Pad in the right-hand column. If you get lost and can’t find the dashboard, hover over the Accounts tab in the main menu at the top and select Complete View. This is the site’s dashboard.
In the Launch Pad section, there will be links to some useful platforms. Two of them are Power links—live and paper. Click on the link for paper trading; a new window with Power in simulated mode will appear. Yellow text will be displayed indicating demo mode; it is always there to remind you that real trading won’t be taking place.
Paper Trading on the E*TRADE Power Mobile App
Power also appears as a mobile app for Android and Apple devices. Like its web-browser cousin, the app has a practice mode. This time, instead of launching a separate platform, you simply need to open the regular app, tap on the Paper tab on the login screen, and enter the normal User ID and password. Once inside, a yellow banner will appear at the top of the app indicating paper mode.
Practicing E*TRADE Power
Power in either format offers many of the same tools found in live mode. This means it’s possible to trade futures, options, and equities. Simulated mode comes with $100,000 of funny money; it’s not real. Trades don’t actually buy or short anything, but they do help traders learn the software.
The account value in demo mode can be reset at any time. On the mobile app, tap on the Menu tab in the bottom row of icons. On the next page, scroll down to Settings. On the settings page, scroll down to find the purple hyperlink to Reset Paper Trade. On the web version, look for the window of account balances. It appears at the top of the left-hand column. After at least one trade is made, the values can be reset (look for the refresh icon).
We suggest test driving the many features on the platform to really get a feel for the, well, power of this outstanding platform. The TradeLab is a good tool to try out; this is a profit-loss calculator for a proposed trade. And of course, the order ticket is a must. Here, there are several advanced trade types that need to be practiced. Examples include OCO (one cancels the other) and stop limit on quote.
Power web, but not Power mobile, also has a Quick Trade ticket. Here, the software displays big buy and sell buttons (red is for sell, and green is for buy). It’s possible to have two tickets here ready to go, and confirmations can be turned off.
Many of the same tools are available on the mobile app. These include conditional orders and integrated option spreads with P/L diagrams.
E*TRADE Paper Trading Account Requirements
E*TRADE does not require any account balance to use Power in live or paper mode in either format (web or mobile). An account is required, however, or at least login credentials are. There is no cost to use Power.
Schwab as Alternative
If you don’t have login credentials at E*TRADE or don’t want to open an account, Schwab is an
alternative for paper trading. The broker-dealer offers demo trading on its world-class platform
thinkorswim. All that is required to practice trading on this outstanding program is a Guest Pass.
This creates login credentials that are valid for 30 days.
thinkorswim is available in web-browser, mobile, and desktop modes. Power also now has a desktop
version through Power E*TRADE Pro. Like Power, simulated trading on
thinkorswim costs nothing and has a lot of great features. In fact, thinkorswim is still on a higher level, thanks to backtesting tools and other gadgets not found on Power (such as forex and futures dealing boxes for rapid-fire entry).
Free Charles Schwab Paper Trading
Visit Schwab Website
Updated on 4/2/2026.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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