Paper trading on WeBull lets you buy and sell stocks, options, and crypto using virtual money instead of your own cash

WeBull's paper trading account, called Paper Trading, gives you a simulated brokerage account with $100,000 in virtual funds. You can place real trades on real market data and watch how they perform without risking actual money. The account mirrors live trading — your orders execute at the same prices and times as they would with real money, but nothing leaves your bank account.

This is useful if you're new to trading and want to learn how the platform works, test a strategy before committing funds, or practice managing positions during market hours. Paper trading runs on the same market hours as live trading: 9:30 a.m. to 4 p.m. Eastern time on weekdays when U.S. markets are open.

Key Takeaways

  • Paper trading accounts start with $100,000 in virtual money and execute trades at real market prices during regular market hours.
  • You access paper trading through the same WeBull app or website you use for live trading, usually from a dropdown menu or account settings.
  • Paper trading does not teach you about the emotional weight of real money or the tax and fee consequences of actual trades.
  • Your paper trading balance resets periodically or when you request it, so you can start fresh with a new $100,000 if you deplete your virtual funds.

How to Switch to Your Paper Trading Account

Open WeBull on your phone or computer and look for an account selector, usually at the top left of the screen or in the menu. On the mobile app, tap the three horizontal lines (hamburger menu) and look for "Account" or a dropdown showing your account name. On the web version, you'll see your account listed near the top navigation.

Select Paper Trading from the list of available accounts. If you don't see it, your account may not have paper trading enabled yet — contact WeBull support to confirm it's available on your account type. Once selected, all your trades will execute in the paper account using virtual money.

Placing Trades in Paper Trading

Paper trading works exactly like live trading. Search for a stock, option, or cryptocurrency, enter the number of shares or contracts you want to buy or sell, and submit your order. You can use market orders (buy or sell immediately at the current price), limit orders (buy or sell only at a specific price), or other order types WeBull offers.

Your orders execute during market hours at the same prices as live trades. After market close, you can still place orders, but they won't execute until the market opens the next day. You'll see your positions, profit and loss, and account balance update in real time, just as they would with real money.

Monitoring Your Paper Portfolio

Your paper trading dashboard shows your current holdings, cash balance, buying power, and total account value. You can view individual position details — how much you've gained or lost on each trade, the entry price, current price, and the percentage change. This information updates during market hours as prices move.

WeBull also displays your trade history within the paper account, so you can review what you bought, when you sold it, and what the outcome was. This record helps you spot patterns in your trading decisions and learn from mistakes without the cost of real losses.

Resetting Your Paper Trading Account

If you lose all your virtual $100,000 or want to start over with a fresh account, you can reset your paper trading balance. The exact method depends on your WeBull version — look in account settings or contact support for the reset option. Some accounts reset automatically after a set period, while others require you to request it manually.

Resetting gives you another $100,000 in virtual funds and clears your trade history within that account. This is useful if you've tested a strategy and want to try again, or if you've depleted your balance and want to keep practicing.

What Paper Trading Does Not Teach You

Paper trading shows you how to execute trades and manage positions, but it leaves out the psychological and financial reality of real trading. When money is virtual, you may take bigger risks or hold losing positions longer than you would with actual cash. You won't feel the pressure of watching your own money decline, which changes how most people make decisions.

Paper trading also doesn't account for taxes, trading fees, or the cost of margin interest if you borrow money. Some brokers charge commissions or spreads that paper trading may not fully reflect. Before moving to live trading, understand that your real results will likely differ from your paper results because of these factors and because your emotional response to real money is different.

Moving from Paper Trading to Live Trading

Once you're confident in your strategy and comfortable with the platform, you can fund a live account and start trading with real money. Your paper trading account stays separate — you can keep using it to test new ideas while you trade live with a portion of your funds. Many traders use both simultaneously: paper trading for experimentation and live trading for strategies they've already proven.

Start with a small amount of real money if you're new to live trading. The jump from paper to live is significant, and a smaller account lets you learn the emotional side of trading without risking more than you can afford to lose.

Frequently Asked Questions

Does paper trading have the same order types as live trading?

Yes. Paper trading supports market orders, limit orders, stop orders, and other order types available in your live account. The execution rules are the same — your orders fill at the same prices and times as they would with real money during market hours.

Can I trade options and crypto in paper trading?

Yes, if your account type supports them. Paper trading mirrors your live account's permissions, so if you can trade options or crypto live, you can do it in paper trading too. The virtual $100,000 balance covers all asset types.

What happens to my paper trading account if I don't use it?

Your paper account remains available as long as your WeBull account is active. Some accounts may reset the balance after a long period of inactivity, but the account itself doesn't close. You can return to it anytime and resume trading with your current balance or request a reset.

Does paper trading charge any fees?

No. Paper trading is free and doesn't charge commissions, spreads, or other fees. This is one reason paper trading results may differ from live trading — you won't see the real cost of executing trades until you move to a live account.