Webull Paper Trading

Webull Demo Account

2022 Webull paper trading (demo account). Webull virtual money simulator to practice trading stocks, options, and cryptos.

Webull Demo Account

If you’re looking for a way to practice trading stocks and ETFs, a Webull account may be your ticket. The brokerage firm offers paper trading on all of its software platforms, and this is a great way to practice buying and selling without putting real money on the line.

Overview of Simulated Trading at Webull

Paper trading is practice trading. There’s actually no paper involved. Everything is completely digital. Not all brokers offer any type of simulated trading on their software platforms. But Webull does. In fact, Webull offers demo trading on all three of its software platforms: mobile app, browser-based platform, and desktop software.

In line with its ultra-low-cost form of trading, Webull charges nothing for its paper-trading services. It’s even possible to check out its browser platform without opening an account.

On the Webull website, click on the TRADE link at the top of the screen. This will generate a new tab with the browser platform. In the left-hand column, there are several tabs. The bottom one is the Paper Trading icon. Click on this and you’ll get the software’s demo mode.

Widgets in simulated mode include the demo trade ticket, a watchlist, simulated account details, and a chart. Some windows do require a login to access data. These include time & sales data, simulated positions, and working simulated orders.

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12 FREE stocks valued $34-$30,600 give-away at Webull.

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Getting Ready for Webull Demo Trading

A good place to begin paper trading at Webull is on the broker’s browser platform. As already mentioned, to get the full benefit out of this free service, you’ll want to have a brokerage account with Webull. This is completely free and requires no deposit of funds.

Once you have your account open, log into the website and get the trading platform open. Click on the paper trading icon in the left-hand menu, and you should see a variety of widgets for a paper trading account. By default, Webull starts the demo account at $25,000 of practice money, although this can be set to any value.

To change the account equity, click on the Paper Account link in the upper-right portion of the screen. Underneath the Paper Account Details window there is a Reset link. Click on this to reset the account equity to any value. Resetting the account equity here will change it on the other platforms that Webull has.

Placing Simulated Trades on the Webull Web Platform

Once you have the paper-trading platform pulled up, it’s time to start placing some trades. The best experience will be achieved fully logged in. On the Paper Account tab, there are windows for Daily P&L, P&L%, Net Assets, Performance, Order Status, Positions, Market Value, Net Assets, and Buying Power. These data points require a login. Remember, they are all simulated numbers.

WeBull Demo Account

Moving over to the left tab, US Stocks Paper Trading, we get trading tools. This is where the action takes place. Windows in this space include a chart, an order ticket, time & sales data, account details, a watchlist, order status, and positions.

Charts, watchlists, and time & sales data are the same numbers that appear in regular mode. The watchlists window can display a large number of watchlists by selecting a specific list from a drop-down menu. If you select My Positions, it will display positions from the real account. So be careful there. The Positions window in demo mode is a separate window that is not part of the Watchlist window. This Positions window displays positions created in practice mode.

The charting window has the same tools that charts have in regular mode. These include a lot of great tools like technical studies, comparisons, multiple line styles, company events, and drawing tools.

The trade ticket is of course what we’re ultimately after. In demo mode, the ticket has just two order types: market and limit. Market orders are always sent as day orders, while limit orders have two choices: day or GTC.

The quantity field has three options: dollar amount, share amount, and percent. This last choice will place a trade using a percent of buying power.

Simulated trades can be submitted during extended hours, and it’s possible to take short positions. This obviously is a great way to practice shorting. Options and cryptocurrencies cannot be traded in demo mode, unfortunately.

Paper Trading on the Webull Desktop System

Webull’s desktop program has some different trade tickets in simulated mode, so it’s worth going over to the platform to try them out. To download the software, go back to the same menu you launched the browser platform at, and this time, instead of clicking on the TRADE link, select the DOWNLOAD link. This will give you the page to download the company’s very good desktop program.

There are three download choices: Windows, Mac, and Linux. Be sure to download the correct program for your operating system. If you have a Mac, you need to select Intel-based or M1-based, depending on the type of hardware your computer is using.

Once you have the desktop platform installed, it’s time to start placing some demo trades on it. Once again, the starting point is the Paper Trading icon that appears at the bottom of the left-hand vertical menu. Click on this and you’ll have the practice trading workspace.

WeBull Paper Trading on desktop

Although some widgets like charts and the watchlists are the same, the real advantage with paper trading on the desktop program is the order tickets. Besides the regular one that appears on the browser system, the desktop software has two more. These are the Active Trade and Order Entry tickets.

They can be added to the workspace by clicking on the Add Widgets icon. This is located in the upper-right corner of the workspace and is in the shape of a toolbox. Hover over it and you should see a small window appear with the message Add Widgets.

Obviously, this is where you can add widgets to the paper-trade workspace. Besides the new trade tickets just mentioned, other gadgets include the regular trade ticket, account details, P&L, and more.
v To remove a window from the workspace, just click on the three horizontal lines in the upper-right corner of the window and select the remove link.

This same menu has adjustable settings for the Active Trade ticket. This order form is used for quick order entry, so the buttons can be customized. For example, one can be set to sell a certain number of shares at an ask price or buy a different number of shares at market. We recommend spending some time with this order ticket and adjusting settings to your liking. Remember that this is practice and no real money is at risk.

The Order Entry ticket is not customizable. It is basically the regular ticket in horizontal mode. Usually, it is used for option trades.

A great advantage the desktop system has over the browser program is the ability to use custom layouts. These once again will be found in the upper-right corner. The floppy disk icon can be used to save a layout, and the plus sign is where the default choices will be found.

Practice Trading on the Webull Mobile App

The third and final software platform Webull has is its mobile app. This, too, has a paper-trading mode on it. Finding it is a little more difficult. To locate it, tap on your custom avatar in the upper-right corner of a page. Then scroll down until you see the link for Paper Trading. It will be next to a green dollar sign with a circle around it.

WeBull App Paper Trading

To place a trade in simulated mode, tap on the blue Quick Trade icon. Enter a security’s ticker symbol and you’ll get its profile in demo mode. Everything is the same except the trade ticket, which clearly is labeled as Paper Trade in orange. On this order ticket, the only possible quantity is share amount.

On the paper-trading home screen, Orders and Performance icons are shown next to the blue Quick Trade button. After submitting an order, these two areas are good places to check out.

On the day we did our research, we did not find trading competitions in simulated mode. In the past, the Webull app did have them.

Day Trading in Webull's Simulated Mode

One of the many benefits of Webull’s paper-trading tools is the ability to practice day trading stocks and ETFs. During our investigation, we were able to do just that on all three platforms. This can be accomplished without any money in the account, of course, so obviously there’s no need to maintain $25,000 in account equity. You can do this if you wish by adjusting the demo account’s fictional equity.

Sometimes trades did take a few seconds to execute, so you may need to exercise some patience while waiting for a trade to show up in the list of positions.

Open Demo Account

12 FREE stocks valued $34-$30,600 give-away at Webull.

Open WeBull Account

Webull Demo Trading Judgment

We really like Webull’s paper-trading tools, although the inability to practice with cryptocurrencies and option contracts is unquestionably a letdown. Nevertheless, the ability to short and to day trade is a huge advantage, and the ability to practice on all three platforms is another plus. Because no deposit is required to practice, opening an account and diving in is a no brainer.

Updated on 3/20/2022.

About the Author
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.