Best paper trading apps for options (2026)
We track 17 simulators for options. They are ordered by how completely their details are verified from provider pages, not by quality or payment.
Of these, 12 are listed as free (Webull paperTrade, Interactive Brokers Paper Trading, TradeStation Simulator, Schwab thinkorswim paperMoney, moomoo Paper Trading, E*TRADE (Power E*TRADE) Paper Trading and 6 more), 11 use real-time or live data at least partly (Webull paperTrade, Interactive Brokers Paper Trading, TradeStation Simulator, Schwab thinkorswim paperMoney, moomoo Paper Trading, CME Group Trading Simulator and 5 more), and 1 can be used without a brokerage account (moomoo Paper Trading).
The most completely documented options here are Webull paperTrade (price: Free; data: real-time incl. Level 2; starting balance: Unlimited virtual funds); Interactive Brokers Paper Trading (price: Free; data: Free trial: delayed 10-15 min (OTC spot FX & metals non-delayed); paper account mirrors live data subscriptions; starting balance: US$1,000,000 (paper account)); TradeStation Simulator (price: Free with account; data: Free real-time data for non-professionals (funded account required); starting balance: Unlimited paper dollars).
How to choose: decide first whether you need the same market you will trade for real (e.g. NSE F&O vs US stocks), whether delayed quotes are acceptable for your style (they are fine for long-term practice, poor for day trading), and whether the app forces you to open a brokerage account. Each linked listing shows its sources so you can confirm the details.
| Simulator | Assets | Data | Price | Account |
|---|---|---|---|---|
| Webull paperTrade | stocks, ETFs, options, crypto, event contracts | real-time incl. Level 2 | Free | Free Webull account, $0 balance |
| Interactive Brokers Paper Trading | stocks, ETFs, options, futures, forex, crypto, bonds, metals | Free trial: delayed 10-15 min (OTC spot FX & metals non-delayed); paper account mirrors live data subscriptions | Free | Free trial, or paper account once a live account is approved (funding not required for approval) |
| TradeStation Simulator | stocks, ETFs, mutual funds, options, futures | Free real-time data for non-professionals (funded account required) | Free with account | Funded TradeStation account required |
| Schwab thinkorswim paperMoney | stocks, options, futures, forex | Real-time simulated market data (paperMoney) | Free | Schwab login, or 30-day Guest Pass without account (not extendable) |
| moomoo Paper Trading | stocks, ETFs, options, futures, crypto | real-time quotes | Free | Free moomoo app login; no brokerage account needed |
| E*TRADE (Power E*TRADE) Paper Trading | stocks, ETFs, options | unknown | Free for clients | E*TRADE client |
| CME Group Trading Simulator | futures, options on futures | Real market data delayed 10 min in practice; real-time in Trading Challenges | Free ($0) | Free CME Group login |
| AlgoTest | options (F&O) | Live market data (forward test) | Paid: forward test 50 credits per strategy per 28 days (free tier is backtests only) | unknown |
| Sensibull | options | Delayed by 1 minute (regulatory) | Free for Zerodha customers; others get a 3-day mini-trial and can start a 7-day trial | Broker-linked |
| Neostox | stocks, futures, options | Delayed by 30 days (Neostox FAQ) | Free trial, then subscription (e.g. Silver ₹589/month incl. GST) | Account; free trial |
| PaperTrader PRO | stocks, futures, options, commodities, crypto | Live NSE prices (per site) | Free app; crypto trading is Premium | unknown |
| StockTrak | stocks, bonds, options, futures, forex, crypto | Delayed at least 15 minutes (site quote notice) | Paid (see K-12 pricing) | Institutional/classroom |
| 5Trade Paper Trading | futures, options, commodities, forex, crypto, stocks | Live real-time data (official) | Free | KYC required |
| AlgoCharting | stocks, futures, options, crypto derivatives | real-time | Free | unknown |
| ETNA Paper Trading Simulator | stocks, options | real-time (per Capterra) | Conflicting on ETNA pages: 'free for individuals' vs $19 delayed-quote plan | unknown |
| Zacks Trade Paper Trading | stocks, options, futures | unknown | unknown | Demo requested by email, 90 days (per TradersUnion) |
| Iron Condor | stocks, ETFs, options, crypto | unknown | unknown | unknown |
FAQ
What is the best paper trading app for options?
It depends on your market and data needs. The most completely documented options in our dataset are Webull paperTrade, Interactive Brokers Paper Trading, TradeStation Simulator. Compare data delay, price and account rules in the table above.
Which paper trading apps for options are free?
Listed as free: Webull paperTrade, Interactive Brokers Paper Trading, TradeStation Simulator, Schwab thinkorswim paperMoney, moomoo Paper Trading, E*TRADE (Power E*TRADE) Paper Trading, CME Group Trading Simulator, Sensibull, Neostox, PaperTrader PRO and 2 more. Some 'free' simulators require a funded or approved brokerage account; see each listing.
Which have real-time data?
Real-time or live data (at least partly): Webull paperTrade, Interactive Brokers Paper Trading, TradeStation Simulator, Schwab thinkorswim paperMoney, moomoo Paper Trading, CME Group Trading Simulator, AlgoTest, PaperTrader PRO, 5Trade Paper Trading, AlgoCharting and 1 more. Check each listing for delays on specific markets.
Can I paper trade without opening a brokerage account?
Yes, these need no brokerage account: moomoo Paper Trading.
Comparisons on this list
Related lists
Information only, not financial advice. Simulated results do not predict real results. Features and availability change and vary by country; check the provider's site. Sponsored or affiliate links, if any, are labelled.