Webull paper trading is a free simulator called "paperTrade." It lets you practise with virtual money instead of placing real orders. The feature supports six asset categories: stocks, ETFs, options, cryptocurrency, futures and event contracts.
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Webull Paper Trading at a Glance
| Feature | Webull paper trading |
|---|---|
| Cost | Free |
| Money used | Virtual funds |
| Available on | Mobile app, desktop app and WebTrade |
| Supported assets | Stocks, ETFs, options, cryptocurrency, futures and event contracts |
| Main purpose | Practising strategies and learning Webull's platforms |
| Trading systems | New paper trading system and legacy paperTrade system |
How to Access Paper Trading on Webull
Mobile App
Open the Webull app and look for Paper Trading or paperTrade. Depending on the app version, the option may appear under Menu, More or Markets. Webull also lets users switch between paper trading and live trading from the app.
Desktop App
Open the left-hand navigation menu and select Paper Trading or Legacy paperTrade. The desktop app also provides access to Webull's newer paper trading system.
WebTrade
Select Paper Trading from the left-hand navigation bar. Choose a layout, then start placing simulated trades.
What Can You Practise Trading on Webull?
Webull paper trading supports:
- U.S. stocks
- ETFs
- Options
- Cryptocurrency
- Futures
- Event contracts
The new paper trading system supports the options strategies available for live trading. The legacy system has more limited options functionality.
How Realistic Is Webull Paper Trading?
Webull paper trading is built to resemble live trading. The newer system includes real-time pricing, several order types and tools for more complex trades. The money is simulated, so paper trades do not create real profits or losses.
Paper trading cannot fully reproduce live-market conditions. Webull says simulated order execution depends on factors such as trading activity and the last traded price. A simulated fill may differ from a live fill, especially in a fast-moving or less-liquid market.
New Webull Paper Trading vs. Legacy paperTrade
The new system has more of the features found in Webull's live trading tools.
| Capability | New system | Legacy system |
|---|---|---|
| Market, limit, stop and stop-limit orders | Yes | Yes |
| Trailing stops | Yes | Yes |
| OCO, OTO and OTOCO orders | Yes | Yes |
| Advanced options strategies | Yes | More limited |
| Overnight trading | Yes | No |
| Options legging and rolling | Yes | No |
Webull says the new paper trading system is available on its mobile and desktop apps. The legacy system remains available across the supported platforms.
Is Webull Paper Trading Worth Using?
Webull paper trading can help you:
- Learn how Webull's order screens work
- Practise stock, options and futures strategies
- Test order types before using real money
- Get familiar with charts and trading tools
- Build a trading routine without risking capital
Use it as practice, not as proof that a strategy will work with real money. A useful record includes the reason for each trade, the planned exit and whether the simulated result matched the original plan.
Bottom Line
Webull's paper trading is available through its mobile app, desktop platform and WebTrade. It covers stocks, ETFs, options, cryptocurrency, futures and event contracts. Choose the new system if you need overnight trading, broader options support, legging or rolling. The legacy version is suitable for more basic simulated trades.