Paper Trading at TradeZero
Key takeaways:
• TradeZero charges $59 per month for paper trading.
• The monthly fee for simulated trading is extra and does not include software or data costs.
• Schwab offers free demo trading.
If you want to practice trading with no risk, TradeZero is one broker that offers this option. However, because it costs money, Charles Schwab may be a better choice.
Demo Trading at TradeZero
TradeZero only offers paper trading to customers with active accounts. Guests without a TradeZero account cannot use the simulator.
TradeZero charges $59 per month for demo trading. This is on top of the $59 monthly fee for the software bundle that includes the desktop platform. If you use both, the total monthly cost is $118.
With a simulated account, you can test TradeZero’s software with no risk. Most tools found in live mode are also available in demo mode, so you can try different features without worrying about losses.
Signing up for Paper Trading
To get access to simulated trading, first fund your live account and then contact TradeZero’s support team to request a demo account. The broker is open on weekdays from 8:00 am EST to 5:00 pm. You can call (877-4-TRADE-0), use online chat, or email support at support@tradezero.us.
Schwab as an Alternative
If you would rather not open a live account, Charles Schwab offers a Guest Pass. With this free pass, you do not need a Schwab account to practice trading on the advanced thinkorswim platform. The Guest Pass gives free access to thinkorswim on desktop, mobile, and web.
Signing up for the Guest Pass is easy. Just visit the
Guest Pass signup page and click the blue button. Enter the required details and you will receive login credentials for all three thinkorswim platforms.
The demo mode used with a Guest Pass is called paperMoney®. This simulator is also available to Schwab customers (they do not need a Guest Pass because paperMoney is built into thinkorswim). Keep in mind that paperMoney for Schwab customers does not expire, while Guest Pass logins expire after 30 days.
Both guests and Schwab customers use the same tools in thinkorswim’s demo mode. The order ticket, charts, Level II window, and other features are the same. You can trade options, stocks, ETFs, closed-end funds, futures, and forex on thinkorswim. The last two are not offered at TradeZero, which lets you try them with no risk.
Schwab customers who want to use thinkorswim in demo mode must select the paperMoney icon on all three platforms. On the desktop version, this option is chosen on the login screen. On the mobile and web versions, it can be selected after logging in.
Guests using the 30-day Guest Pass must log in with the credentials they receive after signing up. The thinkorswim desktop and mobile apps must be downloaded, and the web version can be used at the
Guest Pass Login page.
Learn more about Schwab Paper Trading
Free Charles Schwab Paper Trading
Visit Schwab Website
Tradezero Paper Trading Judgment
TradeZero charges a high fee for paper trading, while Schwab offers stronger software with free demo trading for both customers and guests. Choose the option that works best for you.
Updated on 1/15/2026.
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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