Paper trading is the action of entering and exiting trades using "Fake" Money or a Demo Account. This will allow you to practice what you learned in the market, try new strategies, and build confidence in your ability before using any of your capital. Most Brokers have a demo account that you can use but don't forget to ask for Live Data if you are going to be Day Trading.
Thinkorswim by TD Ameritrade
TD Ameritrade is an Online Broker that offers a Paper Trading Account.
With TD Ameritrade you can download the ThinkorSwim Platform. Some of the benefits of TD Ameritrade:
- Test Drive Strategies
- Get familiar with Platform before risking real money
- Mac Compatible
- Can request Live Data
Investfly is an online trading platform where members in the community can manage virtual stock portfolios and Build Automated Trading Strategies. Investfy offers a full suite of trading tools and allows user to connect to the Brokerage Account for Live Trading.