Paper trading on WeBull lets you practice buying and selling stocks, options, and other securities using virtual money instead of real cash

WeBull's paper trading feature, called Paper Trading, gives you a simulated brokerage account with $100,000 in virtual funds. You can place trades, test strategies, and watch how positions perform without risking actual money. The trades execute on real market prices and real market hours, so you see how your decisions would have played out in actual conditions.

Paper trading is useful if you are new to the market, want to test a strategy before committing money, or straightforward want to practice without pressure. The account works the same way a real WeBull account does — same order types, same settlement rules, same market data — so the experience transfers directly to live trading.

Key Takeaways

  • Paper trading on WeBull starts with $100,000 in virtual cash and executes trades at real market prices during market hours.
  • You access paper trading through the WeBull app or website by selecting it from your account menu; no separate sign-up is required.
  • Paper trades settle and clear the same way real trades do, so you learn how margin, buying power, and settlement timelines actually work.
  • Your paper trading account is separate from your real money account, so you can run both at the same time and compare results.

How to turn on paper trading in your WeBull account

Open the WeBull app or go to the WeBull website and log in. Tap or click the menu icon (usually three horizontal lines) in the top left or right corner, depending on whether you are on mobile or desktop. Look for Account or Settings and select it.

Scroll down until you see Paper Trading or Simulated Trading. Tap or click to turn it on. WeBull will create a separate simulated account linked to your login. You will see a toggle or switch; make sure it is set to On. Once enabled, you can switch between your real account and your paper account by selecting which one you want to view.

The paper account appears as a separate option in your account selector, usually at the top of the app or in a dropdown menu on the website. Your $100,000 in virtual cash is ready to trade when ready.

Placing trades in your paper account

Navigate to the stock, ETF, or options contract you want to trade. Tap or click Trade or the order button. The order screen works exactly like your real account: you choose the order type (market, limit, stop, etc.), the number of shares or contracts, and whether you are buying or selling.

Review the order details. The price shown is the current real market price. Submit the order. During market hours (9:30 a.m. to 4 p.m. Eastern time for stocks), your paper trade executes when ready at the market price or at your limit price if you set one. Outside market hours, orders queue and execute when the market opens.

Your filled trades appear in your Positions tab, and your buying power decreases by the amount you spent. If you sell a position, the cash returns to your account and is available to trade again when ready (no settlement delay in paper trading, though real accounts have a two-business-day settlement period).

Monitoring and closing paper trades

Your open positions show in the Positions section of your paper account. You see the entry price, current price, number of shares, and unrealized gain or loss in dollars and percentage. This updates in real time during market hours.

To close a position, go to the stock or contract, tap or click Trade, select Sell, enter the number of shares or contracts, and submit. The position closes at the current market price. Closed trades move to your History or Order History tab, where you can review the entry price, exit price, and total profit or loss.

Your account also shows your total portfolio value, cash available, and overall return percentage. These update throughout the trading day as your positions move.

Resetting your paper trading account

If you want to start fresh with a new $100,000 balance, you can reset your paper account. Go to Account or Settings, find Paper Trading, and look for a Reset or Restart option. Tap or click it. WeBull will close all open positions, clear your history, and restore your $100,000 balance.

Resetting erases your trade history in that account, so take screenshots or notes of any trades you want to remember. After reset, your paper account is blank and ready to use again.

Switching between your paper and real accounts

Both accounts are active at the same time. To switch between them, look for an account selector at the top of the app (usually showing the account name or type) or in the menu. Tap or click it and choose Paper Trading or Real Account. Your view switches when ready, and you see the positions, cash, and history for whichever account you selected.

This lets you run the same strategy in both accounts side by side and compare how the paper version performs against the real version. It also means you can practice in paper while leaving your real account untouched.

What paper trading does and does not teach you

Paper trading shows you how order execution works, how different order types behave, and how positions move with real market prices. It teaches you the mechanics of the platform and lets you test ideas without financial risk.

Paper trading does not teach you the emotional side of real trading — the pressure of risking actual money, the temptation to panic-sell, or the discipline required to stick to a plan when your own cash is on the line. Many traders find that their paper results do not match their real results because the psychology is completely different. Paper trading is a tool for learning the platform and testing mechanics, not a predictor of how you will trade with real money.

Frequently Asked Questions

Can I trade options in paper trading?

Yes. Paper trading supports stocks, ETFs, options, and other securities available on WeBull. You place options orders the same way you place stock orders, and they execute at real market prices during market hours.

Does my paper account have margin?

Paper trading accounts do not use margin the way real accounts do. Your $100,000 is cash, and you cannot borrow against it. This means you cannot short-sell or use leverage in paper trading, even if your real account has margin enabled.

What happens to my paper trades after market close?

Open positions stay open. Their value updates the next time the market opens. Orders placed after market close queue and execute when the market opens the next trading day at your limit price or at the market price if you placed a market order.

Can I use paper trading on the WeBull mobile app?

Yes. Paper trading works on both the WeBull mobile app and the website. The process is the same: enable it in settings, switch to your paper account, and trade normally.

Does paper trading have commissions or fees?

No. WeBull does not charge commissions on paper trades. Your real account also has no commissions on stocks and ETFs, but options trades may have fees depending on your account type and WeBull's current pricing.