The TurboTrader Portfolio offers a Paper Trading mode, letting you practice your trading with fake money and real market data, before moving on to the actual market.
The Paper Trading Portfolio isn't just a way to record your holdings; it's a full market simulation.
We take real, live market data, and then simulate the placement of orders into the queue and their fulfilment. It's as close as you can get to trading on the market, without risking any money.
We'll even simulate brokerage for you, with configurable settings you can easily adjust.
Order Types and Validity
The Paper Trading Portfolio doesn't just support At Limit orders, but will also allow At Market and Market-To-Limit orders. As the TurboTrader Portfolio evolves, we also intend to support more complex validity rules.
See the Orders page for more details.
TurboTrader's Portfolio Automation service works hand in hand with the Paper Trading Portfolio, letting you test out different trading rules and strategies on a realistic market simulation.
Make a mistake in your configuration? No worries - it's just paper money. Reset the Portfolio and try again!
Configuring Paper Trading
Under the Trading Tab, select the Manage area and then choose the Trading Account you wish to configure. Once you reach the Manage Account page, you can access the Edit page to change the settings for your Trading Account.
From there, you can configure the Simulation Mode that your account will run under, as well as choose the brokerage settings. These apply to all your Portfolios, and cannot be changed for individual ones.
There are four different Simulation Modes that the Paper Trading simulation supports:
- Unrealistic is the most inaccurate, and will instantly fill any orders placed on the market.
- Inaccurate is slightly smarter, and will instantly fill an order once a trade occurs at or below its price point.
- Rough is smarter again, and will begin to fill an order as trades occur on the real market, according to how large the trades are.
- Realistic is the most detailed simulation, and will track not just trades but your estimated position in the market depth, only filling your order once you are at the front of the queue.
Each simulation mode increases the detail of the simulation, from instant completion to realistic order queue simulation.
Note: The Unrealistic mode is not supported with Portfolio Automation. Please use either the Rough or Realistic simulation modes if you are testing automated trading.
For a full simulation of market trading, you can't ignore the cost of brokerage. We offer both a fixed dollar amount of brokerage charged per Order, and a variable percentage charged on the total traded volume.