Someone asks:
Is it possible to open a paper trading account with Fidelity and start trading with fake money?
If you’re new to the stock market, paper trading is the way to go. This method allows you to buy shares of different companies without risking any money. Once familiar with how it works, you can deposit money into your Fidelity account and start investing.
On the Fidelity website, there isn’t an option to open a paper trading account with them. Unlike ThinkorSwim or Webull, Fidelity does not offer paper trading directly.
However, here’s the good news. Active Trader Pro, a comprehensive charting/trading platform powered by Fidelity will allow you to sign up for a test account. This is essentially the same as a paper trading account or virtual stock market simulator.
With a demo account on Active Trader Pro, you can do the following:
- Model trades and generate ideas with options analytics
- Move from idea to trade using virtual account information
Market data are delayed in Active Trader Pro when you are on their demo virtual account.
How to Sign Up for a Fidelity Paper Trading Account
1. Visit the test drive page of Active Trader Pro
2. Fill out your information (your name, email address, etc.)
3. Click Submit.
4. You will be taken to a confirmation page. It lets you know that you’ve successfully signed up for a demo account with Fidelity’s Active Trader Pro.
5. Click on Download Demo Now. This will install the demo version of Active Trader Pro software on your computer.
The purpose of this program is to allow you to experience the Active Trader Pro platform. Once you are ready to move forward, you can sign up for a real trading account with Fidelity.
