Investing is a real trend in today’s world. In addition, it is a very smart way to spend your money, so that it doesn’t just lie in your account, but can bring you additional income. But the main thing in this business is still experience. It doesn’t matter how much money you have or where you invest it, as long as you do it without some knowledge. If you do it this way, you risk losing all of your investments and failing. To prevent this from happening you need to start small. For example, you can try paper trading with Webull.
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What is paper trading at Webull
Paper Trading at Webull is a special feature that allows people to start trading without an initial deposit. These accounts have become very popular with novice investors. This allows them to learn and try out different functions and strategies before investing their real money.
The feature is available on both desktop and mobile platforms from Webull. You can use it to initiate practical trading instructions. This platform is linked to the full Webull system and can be activated after creating an account. You can continue to practice and when you are ready, move to a real account at any time.
What are the benefits of Paper Trading for beginners
Most of the people who are interested in this feature are beginners. There are many advantages to paper trading for beginners. Some of the most important are:
- It’s fast and easy to open an account and you do not have to make any initial deposit
- No risk. A lot of novice investors lose money at the beginning of trading. With a paper trading account, you will lose virtual money, not real money.
- There is a lot of educational material on the platform. For beginners it will be very useful to learn about the different strategies you can use when trading.
- Here you can get first-hand experience, which will be important practice for you
What are the benefits of WebBull Paper Trading for professionals
This feature can also be useful for those who are already seasoned professionals. The main benefits of this option are as follows:
- A paper trading account will give you the opportunity to test the platform and compare it with your current broker. Making an investment in this case is not necessary until you’re convinced that you like it.
- You can test different strategies that you are working on. This will reduce the risks if it turns out that the strategy won’t work.
How to start Paper Trading at Webull
Setting up a paper trading account with Webull is quick and easy. You do not have to make an initial deposit. To get started with a paper account you need:
- Open an account. To do this, go to the home page and click “Get Started“
- Then register using your phone number or email
- Next, choose a trading platform. Webull offers many trading platforms. Before you continue, you need to decide on a trading platform. You may choose to trade through a web platform or you may download one of the mobile or desktop apps offered
- Then you just need to click on the “Open Account” button
- After a few verification steps click on the button “Demo Account” and this will be your account for paper trading
This way you can get started with paper trading. This will be a smart step to get to know the WebBull service for the first time.
