Day Trading Simulators
A free day trading simulator replicates real-time market conditions, allowing traders to practice strategies in a risk-free environment. Similar to demo accounts, no deposit is required and virtual funds are provided. We have tested free trading simulators and listed them below with full reviews.
To list the best day trading simulators in 2025, we took into account:
- The assets and markets you can practice trading
- How closely the simulator mirrors live market conditions
- Whether there is a backtesting engine with access to historical data
- The quality of the broker’s live account if you switch to real-money trading
Brokers With The Best Day Trading Simulators
These are the top 6 simulators for day traders with paper funds:
Here is a short summary of why we think each broker belongs in this top list:
- eToro USA - eToro is a social investing platform that offers short-term and long-term trading on stocks, ETFs, options and crypto. The broker is well-known for its user-friendly community-centred platform and competitive fees. With FINRA and SIPC oversight and millions of users across the world, eToro is still one of the most respected brands in the industry. eToro securities trading is offered by eToro USA Securities, Inc.
- NinjaTrader - NinjaTrader is a US-headquartered and regulated brokerage that specializes in futures trading. There are three pricing plans to suit different needs and budgets, as well as ultra-low margins on popular contracts. The brand's award-winning charting software and trading platform also offers a high-degree of customization and superb technical analysis features.
- Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
- Plus500 US - Plus500 is a well-established broker that entered the US market in 2021. Authorized by the CFTC and NFA, it provides futures trading on forex, indices, commodities, cryptocurrencies, and interest rates. With a 10-minute sign-up, a manageable $100 minimum deposit, and a straightforward web platform, Plus500 continues to strengthen its offering for traders in the US.
- FOREX.com - Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
- UnitedPips - Operating since 2016 and based in Saint Lucia, UnitedPips is a non-dealing desk broker serving clients in over 137 countries. It specializes in CFD trading across around 80+ assets with high leverage up to 1:1000.
Day Trading Simulators Comparison
| Broker | Free Trading Simulator | Trading Platforms | Instruments |
|---|---|---|---|
| eToro USA | ✔ | eToro Trading Platform & CopyTrader | Stocks, Options, ETFs, Crypto |
| NinjaTrader | ✔ | NinjaTrader Desktop, Web & Mobile, eSignal | Forex, Stocks, Options, Commodities, Futures, Crypto |
| Interactive Brokers | ✔ | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies |
| Plus500 US | ✔ | WebTrader, App | Futures on Cryptocurrencies, Metals, Agriculture, Forex, Interest rates, Energy, Equity Index future contracts |
| FOREX.com | ✔ | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral | Forex, Stocks, Futures, Futures Options |
| UnitedPips | ✔ | UniTrader | CFDs, Forex, Precious Metals, Crypto |
eToro USA
"eToro remains a top pick for traders looking for leading social investing and copy trading services. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer day traders."
eToro USA Quick Facts
| Bonus Offer | Invest $100 and get $10 |
|---|---|
| Demo Account | Yes |
| Instruments | Stocks, Options, ETFs, Crypto |
| Regulator | SEC, FINRA |
| Platforms | eToro Trading Platform & CopyTrader |
| Minimum Deposit | $100 |
| Minimum Trade | $10 |
| Account Currencies | USD |
Pros
- A free demo account means new users and prospective day traders can try the broker risk-free
- eToro USA Securities is a trustworthy, SEC-regulated broker that is a member of FINRA and SIPC
- The broker's Academy offers comprehensive learning materials for beginners to advanced-level investors
Cons
- There's a narrower range of day trading instruments available compared to competitors, with only stocks, ETFs and cryptos
- There's no MetaTrader 4 platform integration for traders who are accustomed to using third-party charting tools
- Average fees may cut into the profit margins of day traders
NinjaTrader
"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."
Tobias Robinson, Reviewer
NinjaTrader Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Forex, Stocks, Options, Commodities, Futures, Crypto |
| Regulator | NFA, CFTC |
| Platforms | NinjaTrader Desktop, Web & Mobile, eSignal |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD |
Pros
- NinjaTrader continues to deliver comprehensive charting software for active day traders with bespoke technical indicators and widgets
- Low fees are offered, with $50 day trading margins & commissions from $.09 per micro contract
- NinjaTrader is a widely respected and award-winning futures broker and is heavily authorized by the NFA and CFTC
Cons
- Non forex and futures trading requires signing up with partner brokers
- There is a withdrawal fee on some funding methods
- The premium platform tools come with an extra charge
Interactive Brokers
"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Christian Harris, Reviewer
Interactive Brokers Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies |
| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower |
| Minimum Deposit | $0 |
| Minimum Trade | $100 |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Pros
- IBKR is one of the most respected and trusted brokerages and is regulated by top-tier authorities, so you can have confidence in the integrity and security of your trading account.
- While primarily geared towards experienced traders, IBKR has made moves to broaden its appeal in recent years, reducing its minimum deposit from $10,000 to $0.
- There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.
Cons
- You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
- Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
- IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
Plus500 US
"Plus500 US stands out as an excellent choice for beginners, offering a very user-friendly platform, low day trading margins, and access to the Futures Academy to enhance trading skills. Its powerful tools and reliable service helped it scoop second place in DayTrading.com's annual 'Best US Broker' award."
Michael MacKenzie, Reviewer
Plus500 US Quick Facts
| Bonus Offer | Welcome Deposit Bonus up to $200 |
|---|---|
| Demo Account | Yes |
| Instruments | Futures on Cryptocurrencies, Metals, Agriculture, Forex, Interest rates, Energy, Equity Index future contracts |
| Regulator | CFTC, NFA |
| Platforms | WebTrader, App |
| Minimum Deposit | $100 |
| Minimum Trade | 0.0 Lots |
| Account Currencies | USD |
Pros
- The Futures Academy is an excellent resource for new traders with engaging videos and easy-to-follow articles, while the unlimited demo account is great for testing strategies
- The straightforward account structure, pricing model and web platform offer an easier route into futures trading than rivals like NinjaTrader
- Plus500 is a publicly traded company with a good reputation, over 24 million traders, and a sponsor of the Chicago Bulls, instilling a sense of trust
Cons
- While Plus500 US continues to broaden its investment offering, it's currently restricted to around 50+ futures with no stocks
- Plus500 US does not offer social trading capabilities, a feature available at alternatives like eToro US which could strengthen its offering for aspiring traders
- The proprietary platform is user-friendly but lacks advanced technical analysis tools found in third-party solutions like MetaTrader 4
FOREX.com
"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."
FOREX.com Quick Facts
| Bonus Offer | Active Trader Program With A 15% Reduction In Costs |
|---|---|
| Demo Account | Yes |
| Instruments | Forex, Stocks, Futures, Futures Options |
| Regulator | NFA, CFTC |
| Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN |
Pros
- Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
- With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
- The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
Cons
- Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
- Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
- Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
UnitedPips
"UnitedPips is ideal for traders seeking leveraged trading opportunities, the security of fixed spreads, and the flexibility to deposit, withdraw, and trade cryptocurrencies - all in one sleek TradingView-powered platform."
UnitedPips Quick Facts
| Bonus Offer | 40% Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Precious Metals, Crypto |
| Regulator | IFSA |
| Platforms | UniTrader |
| Minimum Deposit | $10 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:1000 |
| Account Currencies | USD |
Pros
- UnitedPips’ platform performs well, with an intuitive design that will appeal to beginners, while the TradingView integration delivers powerful charting tools without overwhelming users, making it straightforward to execute trades efficiently.
- UnitedPips offers impressive leverage up to 1:1000 with zero swap fees or commissions, which can enhance potential returns for day traders and swing traders looking to control prominent positions with less capital.
- Although being handed off mid-chat due to shift changes during testing was frustrating, customer support is generally good with quick, helpful responses, and 24/7 support via phone and email for regional teams is a definite advantage.
Cons
- UnitedPips lacks comprehensive research, while the educational content for beginner traders is woeful. Compared to brokers like eToro, which offers tutorials, webinars, and advanced courses, UnitedPips offers minimal resources to help new traders understand key concepts.
- Unlike brokers such as IG, UnitedPips is an offshore broker not regulated by any 'green tier' financial authorities, raising concerns for traders seeking assurance and protection under well-established regulatory frameworks.
- UnitedPips' selection of tradable instruments is still minimal, comprising a bare minimum selection of forex, metals and crypto. There are no equities, indices or ETFs, which may be a drawback for experienced traders looking for diverse opportunities.
How We Compare Brokers With Trading Simulators
To rank the best day trading simulators, our experts considered:
Investment Offerings
Most day trading simulators offer access to stocks and forex. However, the top programs also provide other assets and instruments, including commodities, cryptocurrencies, and futures.
We prefer providers that offer access to a wide range of markets. Not only does this provide portfolio diversification opportunities, but it also means you don’t need to open several paper trading accounts at different firms.
Entry Requirements
The top brokers provide free access to their day trading simulators, which will serve most beginners. This also comes with the advantage that you can effectively test an online broker before upgrading to a real account.
Alternatively, experienced traders may prefer to trial ideas through a paid service that offers richer market data and more advanced tools. TraderSync is a good option here.
The user-friendly software offers custom playlists whereby you can quickly replay various trade setups. It also offers data on daily returns, total profits, total losses, returns from going long and short, and the net overall profit or loss.
Platform Features
The quality of the trading platform or app where you will simulate trades is an important consideration.
We look at the breadth of technical analysis tools, such as charts and indicators.
Our team also note that many investors are interested in automated trading. So, we consider whether there is access to a free simulator on MetaTrader 4 (MT4) – industry-leading software that comes with Expert Advisors (EAs).
Having said that, beginners may prefer a no-frills day trading simulator from a broker like TradeNation.
This easy-to-use program walks you through the basics of setting up a day trade, from using margin to risk management parameters:
How you access the simulator service is also key. The best brokers offer a simple browser-baed solution, while other firms offer platforms that can be downloaded on Windows, Mac and Linux operating systems.
Alternatively, there may be mobile apps available for Apple and Android devices.
Simulated Market Conditions
Our experts assess how well the simulator mirrors true market conditions.
Good providers offer accurate and realistic pricing spanning a variety of markets as well as sufficient historical data for backtesting.
Based on our tests, the top firms offer upwards of 4 years of historical information with level 2 market data.
Live Account Conditions
A day trading sim is a great place to start, but many traders will eventually want to upgrade to a real-money account. With this in mind, our team evaluate the live trading conditions available at providers.
In our experience, the best brokers offer an accessible minimum deposit of <$500, tight spreads with low to zero commissions, and around-the-clock customer support to help new traders get started.
We also favor brokers authorized by tier-one regulators, such as the UK Financial Conduct Authority and the Australian Securities & Investments Commission. This is a good indication that a brokerage can be trusted.
Final Thoughts
A day trading simulator is one of the best ways to improve your trading skills. After spending time in a fake trading account, you can then switch to a live account with real money.
With this in mind, day trading simulators should not be treated as a game, but rather a tool to build confidence and test trading concepts.
Also, remember that there is no guarantee that strategies which are successful in a simulator will make money in a real account.
FAQs
What Is A Day Trading Simulator?
A day trading simulator works like a demo account, allowing traders to test and refine strategies using virtual funds.
The best programs closely replicate live conditions and also offer a backtesting engine, so traders can simulate strategies using historical data.
How Do Day Trading Simulators Work?
Day trading simulators use market data to create a trading environment that is similar to live conditions. As a result, clients can test out strategies using both real-time information and historical data.
Most brokers with day trading simulators do not require a deposit to access the test environment. Upon sign-up, you will receive a sum of virtual funds to practice trading stocks, forex or another product. This is typically in the range of $10,000 to $100,000.
What Is The Best Day Trading Simulator?
Our experts have reviewed, compared and listed the best day trading simulators with full reviews.
To rank the top simulators, we considered the assets you can practice trading on, the quality of the trading software, the amount of virtual money available, and any joining requirements.
Should I Use A Day Trading Simulator?
Day trading simulators offer several advantages. Primarily, they provide a risk-free environment to test new strategies. Beginner traders can build their confidence and develop good trading habits, while seasoned investors can trial new trade setups.
The best trading simulators are also available outside of core trading hours, allowing you to backtest ideas on the weekend, for example.
What Are The Risks Of Day Trading Simulators?
Day trading simulators cannot replicate the emotions you feel when trading with real money. As such, a day trading sim will not expose you to the same level of pressure, which can lead to over-confidence in paper trading mode.
Often, simulators will not account for all the costs that come with live trading. For example, sims rarely include slippage, which is the difference between the expected price and the actual execution price.
Finally, a strategy may work when you backtest it against historical data, but there is no guarantee it will work going forward with real money.
Are Day Trading Simulators Free?
Many brokers offer free day trading simulators. For example, eToro provides free access to its stock market and forex trading simulator for all traders that register an account.
There are even trading sims where no login details or sign-up is required, available from brokers like TradeNation. However, in our experience, these normally offer fewer features and tools.
Article Sources
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