How to Paper Trade

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To help our users get familiar with Webull as well as practice their own investment strategies, we provide a paper trading feature and a series of paper trading competitions. With paper trading, you can use a simulated balance with “fake” money to practice your trading. Paper trading is simulated, and funds cannot be moved into or out of paper trading.

Differences in order executions

• Paper trades will be executed based on the last price in real-time quotes instead of the bid and ask quotes;
• Orders will be executed when price matches regardless of volume;
• For a buy order, it will be filled at your price or better when last price is lower than your price.
• For a sell order, it will be filled at your price or better when last price is higher than your price.

Aside from order execution, there are some other differences:

• Only market order and limit order are available for paper trading;
• Buying power in the paper trading account will be calculated as cash balance minus losses in short positions.

How to Paper Trade?

• Go to the 'Menu' tab and find 'paperTrade' in 'Shortcuts'.

• Tap on the "Trade" to start looking for the ticker you are interested in.

• Enter the details page and tap on"paperTrade" at the bottom.

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• Fill in the items for a virtual order and submit them.

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Go back to Paper Trading's main screen and manage the positions/open orders.

Reset Paper Trading Account

If you want to clear your account, you can tap "Reset" on the upper right corner of the paper trading page. Account reset will clear all information including:

• Net account value and buying power will be reset to initial balance;
• All your positions will be erased;
• All open orders will be canceled and order history will be erased;
• All P&L data, including account P&L and stock P&L will be erased.

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Paper Trading Account Performance

You can tap "Performance" on the paper trading page. Performance mainly includes account P&L and stock P&L.

What is Included in Account P&L?

• You can choose a time period to view the changes of your net account value and P&L.
• You can check the components of P&L including dividends and trading P&L.
• You can check daily/weekly/monthly/quarterly/annual account P&L.

What is Stock P&L?

With stock P&L, you can check the performance of each stock you have ever traded. All the historical and current P&L information since you held the position will be recorded until you reset your paper trading account.

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