These days, investing is really on top of the trend. Many people are getting into investments to grow their funds and not just lie in their bank accounts. However, the only drawback here is the risk of losing all of your money, especially if you’re not entirely familiar with how investment in cryptocurrencies, business, and so on works.
That being said, it is much better to start with a small investment to avoid the risk of losing everything you have. One worthy investment is the Webull paper trading options, which are trendy nowadays.
This guide lets us know more about paper trading on Webull, how it works, and its perks to offer.
What is Webull Paper Trading
If you’re a newbie investor searching for a platform with a lower risk of losing your funds or investments, Paper Trading on Webull is a great option. This is one of the special features of Webull, in which it allows individuals to begin trading without the need for any amount as an initial deposit.
Truth be told, Paper Trading is a very common and famous investment platform among novice investors. This is because Webull lets everyone study, discover, and try various methods and functions before they can start investing real money from their pockets.
Paper Trading is accessible on both smartphones and computers. All you need to do is access this feature from Webull directly. You can utilize this feature to learn and adapt how trading works well. Also, you can activate this platform once done by making your personal account. You can keep practicing until you think you are ready and capable enough to trade and invest and simply move to your real account.
Perks of Webull Paper Trading for Novice Investors
Most novice investors are the ones who are really engaging in Paper Trading. This is because it also comes with several perks, including:
- Fast and easy to create your account without spending any funds as an initial deposit.
- There is no risk of losing funds or investments in the starting stage of trading. Rather than losing real money, you will only lose your virtual money with a Paper Trading account.
- Paper Trading has numerous educational materials you can read and study how trading works. It is a great opportunity for a novice investor to learn and discover various methods and tactics you can utilize in actual money trading.
Perks of Webull Paper Trading for Expert or Professional Investor
- Provide more opportunities to assess Webull Paper Trading and compare it with your present broker.
- Allows to test and check various methods and tactics that work well in real money trading.
How To Start Paper Trading on Webull
Don’t worry; creating a Paper Trading account at Webull is fast and straightforward. You also do not need to spend money for an initial deposit. Here are the steps to begin your trading journey with Paper trading on Webull.
Step 1: Create a Webull Account
The first thing you need to go Webull official website and sign up for a account. This platform is available on both smartphones and desktops, so there is no need to worry about accessing it. You will begin trading with your virtual money first, so no need for any funds for the initial deposit.
You need to enter your mobile number to create a Webull account. They will send the verification code to your mobile number, and you need to come up with a password. Just a simple note you need to have at least 320 megabytes of storage on your computer to run the Webull application.
Step 2: You need to Log in to your Webull App
When you finish downloading the Webull app, you only need to log in utilizing your email and created password. Once successfully logging in, you will unlock the free 90 days subscription to level 2 market data of Webull. You also need to submit a valid ID for identification verification purposes and unlock the paper trading feature of Webull.
Step 3: Simply Choose Paper Trading Feature on the Webull App
On the menu on the left side of the Webull app, you will find a small icon circle with a dollar sign. Simply press this small icon to choose a layout for paper trading.
Step 4: Start Trading
Once you set up your Paper trading account, you can now start trading stocks using virtual money. Webull will give you a huge amount of $1,000,000 virtual money to start your paper trading journey.
Paper Trading on Webull is one of the best trading platforms for newbie investors. This platform allows everyone to sign up for an account to practice trading using the virtual money they provide. It aims for users to be well-versed and familiar with how trading works and to discover more methods and techniques before going to an actual, real money investment.
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Frequently Asked Questions (FAQ)
Definitely, yes. Webull offers a Paper trading feature for you to access. Simply create your own paper trading account to begin your trading and investing journey. This platform enables you to use some of the features before making your own real account for actual money trading.
You need to create and register for an appropriate Paper Trading account. Simply sign in to your activated Webull account and click the deposit link to deposit funds.