TradingSim Review: Al Hill and Kunal Vakil sought to improve their skills in a realistic trading environment. They found that one obstacle at that time was the inability to make simulated trades when the market was closed. As a result, they set out to create a platform that would enable them to practice their trading using real market data at any time of any day. The result was TradingSim.
TradingSim is a very good paper trading platform for practice day trading. They were created for traders by traders. Their platform allows you to practice trading and test strategies any time, day or night, and it’s easy to use.
Table of Contents
TradingSim Review Introduction
TradingSim has a high degree of functionality. However, it’s easy to use. Meanwhile, it’s customizable with over 60 drawing tools and more than 50 indicators. It provides two years of historical data (tick, level 1, time, and sales). You only need a browser to use the software; no downloads are necessary.
You don’t even need to have a brokerage account to practice your trading with TradingSim. Check out our trading service for reviews of other companies and online trading courses to practice trading.
Features
If you like trading futures, then our TradingSim review is for you. TradingSim has features, including some unique ones, that enhance the virtual-trading experience.
Pause, Play, and Fast Forward – You can watch your paper trades play out on TradingSim in the same way you can watch a video. Pause it when you’re busy with something else. Play it in real-time. Or, if you don’t want to wait for the results of a multi-day trade in real-time, you can hit the fast-forward button to see your results quickly. You can skip to any time of the day.
Multiple Charts – You can view multiple charts simultaneously on the platform. View one stock in multiple time frames or compare it to the broader market. In addition, the charts are integrated well into the platform, so there are no slowdowns or glitches.
Market Movers – Using the Market Movers feature, you can locate the stocks in play on any given day. TradingSim provides you with a list of dollars or percentage points of stocks with the highest and lowest gains at that time.
24/7/365 Access – If you have a day job or want to do real trading when the markets are open, that’s not a problem. With TradingSim, you can practice when the markets are closed. Use the software at any time on any day.
Additional features include watch lists you can link to your charts, zoom in and out, a customizable account balance, and the ability to hold multiple positions and change time frames. Further, there’s also a TradingSim blog with helpful tips and strategies.
Virtual Trading
Simulating trades and strategies with TradingSim isn’t just for beginners. All traders must continually test their knowledge of what they understand as buy and sell signals.
There are many ways to trade. However, for the pros, gambling isn’t one of them. Trading is taking a calculated risk that you have to quantify and simulate in your mind.
Then, you’re able to simulate in a program like TradingSim. You can do this “dry run” with “play money” in an environment similar to the real markets using TradingSim.
Just be aware that paper trading may hide some of the challenges of real-life trading. When simulating trades, ask yourself how realistic and risky your strategies would be if you were trading with real money.
Also, virtual trading won’t teach you to control your emotions.
TOOLS |  |  |  |
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| DESCRIPTION | Trading companies list that includes free trading brokers, day trading brokers, futures trading, and investing brokers | Trading tools list that includes stock scanners, charting software, journaling, apps, and simulators | Stock market books list that includes the most popular day trading, swing trading, and options trading books |
| BREAKDOWN | Broker name • Review • Pros & Cons • Most popular brokers • FAQs Brokers > | Company name • Review • Pros & Cons • Most popular tools • FAQs Tools > | Name of the Book • Author • Trading topic • Overview • FAQs Books > |
TradingSim Pricing Review
- Our TradingSim review takes a look at their pricing. Their pricing is quite reasonable, considering there’s no need to pay third-party data providers for the market data.
- At this time, the Equities package is $25 per month or $300 annually. It includes more than 11,000 stocks, over 1,000 ETFs, market movers, and more than 500 trading sessions.
- The Futures package is also $25 per month or $300 annually. It includes 20 top Futures contracts, Bitcoin Futures, and top indices, currencies, commodities, and bonds.
- All packages include hotkeys, PNL tracking, and risk management settings. The combined Equities and Futures package is priced at $36 per month and $432 annually.
- If you want to try out the software first, a 7-day trial of the package of your choice is available at TradingSim for free.
Get updated pricing here.
Additionally, for trainers or those who want to customize the platform to incorporate their brand, TradingSim offers volume licensing.
Final Thoughts: TradingSim Review
It’s difficult when you’re simulating your trades to account for your personal risk tolerance and investment goals. The transition from simulating trades to taking those trades live in real-time with real money must be done slowly and in small increments.
If you’re new to trading and investing, start paper-trading for at least a few weeks. When ready to go in with real dollars, go small. Build your way up by building your confidence.
In other words, take your time. Commit to learning and mastering your approach to profiting from the stock market.
Many aspiring traders only try to learn enough to make more than they lose. Then they go all in. We all know that won’t work. Ultimately, they flop, crash, and bite the dust.
Only increase your risk when your profits are consistently greater than your losses. It’s simple to understand, but it’s not easy to do.
Frequently Asked Questions
Investors cannot purchase shares of TradingSim because the company is privately held.
