- Solve real problems with our hands-on interface
- Progress from basic puts and calls to advanced strategies
Interactive Options Course
Lesson 6 of 7
What is a paper trading account?
All IBKR clients have the ability to open a paper trading account. A paper trading account allows traders to use the full range of IBKR’s trading features in a simulated environment using real market conditions.
The trading permissions, base currency, and account type in the paper trading account will match the regular, live account. Trades entered in this paper trading account will not actually execute on any exchange or settle at a clearing house. However, the price of the “executions” will be determined by real market prices and sizes.
What are the benefits of using a paper trading account?
Using a paper trading account is a great way to learn how the trading platforms work and get acclimated to the trading tools before using them in a live account with real money.
Traders can also use the paper trading account to try out new features or order types. Or they can even use the paper trading account to test out a trading strategy in a simulated environment.
How to request a paper trading account?
Paper trading accounts are requested from the Account Portal of the live account. Click the Head & Shoulders icon in the upper right corner and select Settings from the drop-down menu.
Under the Account Configuration section, click Paper Trading Account. The paper trading account will have separate login credentials from the live account, so enter a username and password for the paper trading account. When ready, click Continue to reach a confirmation screen.
If the request is submitted prior to 4pm Eastern Time on a normal business day, the paper trading account will be ready for use by the following day.
Can the paper trading account have live market data?
The market data subscriptions for the live account can be shared with the paper trading account so that the trader does not need to pay for the same market data subscriptions in both a live and simulated environment.
The trader can select which username on the live account they would like to share the market data with for the paper account. On the Account Settings page, select Paper Trading Account and select Yes to share real-time market data subscriptions with the paper trading account. A drop-down menu will appear to select the username whose market data is to be shared.
Note that if the market data is shared, the user cannot access the data for both the live account and the paper trading account at the same time.
In the bottom right-hand corner, the investor can also reset the paper trading account password if needed. Once the desired changes have been made, click Save.
How to login to the paper trading account?
Once the paper trading account is activated, traders begin simulated trading in either the Trader Workstation (TWS) or the IBKR Mobile app. On the login screen for either platform, make sure to click the Paper Trading button before entering the username and password for the paper trading account.
Resources
User Guide: Paper Trading Account
Additional Video Courses
For specific platform feedback and suggestions, please submit it directly to our team using these instructions.
If you have an account-specific question or concern, please reach out to Client Services.
We encourage you to look through our FAQs before posting. Your question may already be covered!
The analysis in this material is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Interactive Brokers, its affiliates, or its employees.
Can I have a free trail simulated account for longer than 30 days, if not, how much do I need to deposit to keep it open longer?
Hello, thank you for asking. While there is no set time limit for use of the free trial account, its purpose is to offer prospective clients the ability to operate the trading system in a simulated environment before making any commitment to open and fund a live account. IBKR, however, will periodically review and close trial accounts that have not been logged into over an extended period of time. In the event this occurs, prospective clients are invited to apply for a new trial account. https://www.ibkr.com/faq?id=50658541
If you are interested in opening an account: https://spr.ly/OpenAccountfromIBKRCampus
Please reach back out with any additional questions. We are here to help!
Hi,
I have been doing paper trading (simulation) on IBKR desktop but since yesterday I have not been able to login to IBKR desktop after raising that I needed advanced option permission.
I have reset my password but that did not help me login. How do I login to the desktop application?
Does it work with real market prices or delayed?
Hello, thank you for reaching out. Trading permissions, market data, and base currency mirror your live account. Please visit this link if you would like to update any of the above in your associated live account: https://www.interactivebrokers.com/sso/resolver?action=UserSettings
Hello
I want to activate real time options in paper trading can you help me?
Hello, thank you for asking. Trading permissions, market data, and base currency mirror your live account. Please visit this link if you would like to update any of the above in your associated live account: https://www.interactivebrokers.com/sso/resolver?action=UserSettings
Can the paper trading account be used after market hours and on weekends? I work full time Mon – Fri. during regular market hours.
Yes, paper trading accounts can be used after market hours and on weekends. We hope this helps!
I am not able to use paper trading using client portal or IBKR app. I login in paper trading but I cannot trade anything. When I click on trade icon it says
You are logged in without Trading/Market Data permissions
You are not connected to the brokerage system (You may be logged in on another platform). The displayed portfolio and market data are delayed.
You can still manage your account but can’t trade.
How do I fix this??????
Hello, thank you for reaching out. Please click the blue button that appears with the error message you receive (“You are logged in without trading/market data permissions”). That should effectively log you out of all other sessions. Please note that there can only be one active session at a given time.
We hope this helps!
I have just created a paper trading account and tried the Blue login button and also the blue Trade but nothing happens so what should I do next?
Hello, thank you for reaching out. Can you please clarify your question?
Hi Interactive,
I am trying to login to ibkr desktop app but I am getting a box saying this – “Login failed, Passwords are case sensitive. Individual account access activates the day of approval.”
I have been paper trading on my trial account since some months but this is the first time I am unable to login due to this issue. I can still login to client portal where I was getting “You are logged in without Trading/Market Data permissions”. I clicked Dismiss but I still cannot login to the application. I have also reset my password multiple times but still cannot login.
Can you help me with login to ibkr desktop?
Hi Joseph, thank you for reaching out. For a login issue, please click the “Need help?” on the Client Portal log in page and follow the prompts to regain access.
https://ndcdyn.interactivebrokers.com/sso/Login?RL
If the above does not work, you will have to call our Client Services team for account security reasons. IBKR DOES NOT reset passwords, provide usernames, or unlock accounts via e-mail or chat. Thank you for understanding. You can find our available phone support here: https://spr.ly/IBKR_ClientServicesCampus
Please note that there can only be one active session at a given time. Please click the blue button that appears with the error message you receive (“You are logged in without trading/market data permissions”). That should effectively log you out of all other sessions.
We hope this helps!
Hi there,
I am trying to login to ibkr desktop app but I am getting a box saying this – “Login failed, Passwords are case sensitive. Individual account access activates the day of approval.”
I have been paper trading on my trial account but these two days I couldnt able to log in. I recieved this message: Login failed, Passwords are case sensitive. Individual account access activates the day of approval.”
Thank you for reaching out. For a login issue, please click the “Need help?” on the Client Portal log in page and follow the prompts to regain access. https://ndcdyn.interactivebrokers.com/sso/Login?RL
If the above does not work, you will have to call our Client Services team for account security reasons. IBKR DOES NOT reset passwords, provide usernames, or unlock accounts via e-mail or chat. Thank you for understanding.
You can find our available phone support here: https://spr.ly/IBKR_ClientServicesCampus
i want to download paper trading software for windows i already have account fpr paper trading
Hi Nitin, thank you for reaching out. To access your paper trading account on the Trader Workstation (TWS) trading platform for Windows:
Download and install the latest version of TWS.
When logging in, toggle to Paper from the login window.
Enter your paper trading account credentials.
You can view our system requirements here: https://www.interactivebrokers.com/en/?f=%2Fen%2Ftrading%2Ftws-requirements.php
We hope this helps!
hai there, I have had an account for about a week now, but i can still not use the paper account with which i want to test my strategies with before using real money. Does that have to be activated or something ? I can basically do nothing when i log in, in the paper account section. Please help or activate the use so i can start my journey.
Thank you for contacting us on IBKR Campus. To address your concern/inquiry, we need a few more details about the situation and your account; unfortunately, IBKR Campus is not a secure channel to share this information. We kindly ask that you contact our Client Services team for further assistance via web ticket, live chat, or phone call using the link below. We appreciate your understanding.
https://spr.ly/IBKR_ClientServicesCampus
Is there any way, when using a trial account that is unfunded, to be able to try the market data APIs on a paper trading account, using only delayed data (or even synthetic data)? I just want to familiarize myself with the APIs before deciding whether to fund an account and subscribe for L2 data in all the markets in which I wish to trade.
Hi Tam, thank you for reaching out. Trial accounts are not supported for any of our API offerings. Once an account is created, but not yet funded, you may use the supplied Paper Trading account to request delayed market data. Please keep in mind that the delayed market data is only available for Level 1 Top of Book data as well as historical data. Delayed data is not available for tick-by-tick requests nor level 2 market depth. If you have any additional questions, please create a web ticket for this inquiry; we have a category specifically for “API.” One of our API experts will be happy to guide you! https://spr.ly/IBKR_ClientServicesCampus
Hi, I want to have my real account portfolio in paper trading to test margin issues. How can I import my portfolio?
Thank you for asking. It is not possible to transfer positions into a paper account, even for informational purposes. In order to establish a position in a paper account, you must place a trade from within the paper trading account. https://www.interactivebrokers.com/faq?id=32651282
Hi. I’m currently paper trading and find the liquidity of 1 million dollars to be a bit much. I plan on starting daytrading with $2000 and thus would like to start with this number in paper trading as well. Is there any way to change the liquidity/balance from 1 million dollars to $2000?
Thank you for reaching out. Please view this FAQ for instructions to reset the dollar amount in the paper trading account: https://www.interactivebrokers.com/faq?id=32644862
We hope this helps!
Ok, thank you for the help.
I have had a demo account for about three months, and I haven’t made any trades, but I have logged in every day. Now, I have noticed that I am being asked to convert the currency before placing an order. However, when I convert the currency, the order still cannot be accepted. Additionally, I am not allowed to take short positions, and a message appears saying that my account does not support shorting for this asset.
Thank you for your comment. For the paper/demo account, please note that is has several limitations as described here: https://www.ibkr.com/faq?id=35807733
The free trial and the paper trading accounts are by default margin type accounts and this configuration cannot be changed. https://www.interactivebrokers.com/faq?id=40356560
Hello, how can i convert my demo margin account to a cash account? Thank you.
Thank you for your interest in a live account! You can easily convert your free trial to a live account by selecting Open Account > Finish an Application on our website and logging in with your username and password.
Thank you for the prompt response.
Is it possible to convert my demo margin account into a demo cash account, thanks.
Hello, thank you for contacting us. The free trial and the paper trading accounts are by default margin type accounts and this configuration can not be changed. https://www.interactivebrokers.com/faq?id=40356560
Ok, thank you.
Hello, is there a time limit or expiration date for using a demo account? Can there be any limitations or restrictions on its features over time? If no orders are placed for a period, can restrictions be applied to its functions even if daily logins are made? Thank you.
Hello, thank you for reaching out. While there is no set time limit for use of the free trial account, its purpose is to offer prospective clients the ability to operate the trading system in a simulated environment before making any commitment to open and fund a live account. IBKR, however, will periodically review and close trial accounts that have not been logged into over an extended period of time. In the event this occurs, prospective clients are invited to apply for a new trial account. Please review this FAQ for more information: https://www.interactivebrokers.com/faq?id=50658541
We hope this helps answer your question.
Thanks
Hello, does the demo account have a time limit? Is it possible that its functionalities may be limited after a certain period? Thank you.
Is there an issue with getting orders in paper trade account filled? I tried several symbols with limit and market orders, none is getting filled. I also tried the sample that comes with the Java API sample. The order is created but stays open.
Hello, thank you for reaching out. If you are experiencing a time-sensitive trading inquiry, please contact: https://spr.ly/IBKR_ClientServicesCampus
Good morning, I have had a margin demo account for about five months. When I try to place an order, it asks me to convert my currency to USD. After completing this operation, I try to place an order again, and this message appears: “Your order is not accepted; there is insufficient settled cash in your account to obtain the desired position.” Could someone help me understand? The funds in my demo account are sufficient to cover the operation.
Hello, thank you for reaching out. Please use this FAQ to troubleshoot: https://www.interactivebrokers.com/faq?id=696234238
If you continue to experience difficulties, please contact Client Services: https://spr.ly/IBKR_ClientServicesCampus
Hi does paper trading accounts work with trading view? I’m not able to login my paper account but my regular account goes through! Thank you for your time!
Hello Christian, thank you for reaching out. Please review these instructions from the TradingView website: https://www.tradingview.com/support/solutions/43000669310-what-should-i-do-to-be-able-to-trade-through-interactive-brokers-on-tradingview/
In case you have forgotten the username for your paper account, please go to https://www.interactivebrokers.com/sso/resolver?action=TA_PAPER_TRADING
(Full instructions to see your paper account username and/or reset its password: https://www.ibkr.com/faq?id=28229874
)
Dear Team, I have noticed that my paper trading account appears to mirror the permissions of my live trading account. As paper accounts are typically intended for unrestricted simulation and testing, I would like to inquire whether it is possible to remove this limitation. Thank you for your assistance.
Hello Zab, thank you for contacting us. This is not possible. Paper trading accounts are mirror images of their associated live account. Trading permissions as well as market data subscriptions and base currency are the same as the live account.
Hi, my base curreny is AUD using paper trade account but I want to convert some to USD, how do I do this in the paper trade UI? Thanks
Hi Rhys, thank you for asking. The paper trading account is provided to help you learn to use the trading features available in the various IBKR trading programs. There are limitations to the paper trading account which can be found in the IBKR Knowledge Base and on the Paper Trading page of our website. Please review this FAQ for more information: https://www.interactivebrokers.com/faq?id=35804573
Paper trading accounts are mirror images of their associated live account. Trading permissions as well as market data subscriptions and base currency are the same as the live account. For the paper account, please note that it has limited functionality in Client Portal (web platform), including converting currency inside of Client Portal. However, it is possible to convert currencies in a paper account on TWS.
For instructions to convert currency in TWS, please view: https://www.interactivebrokers.com/faq?id=27293227
Hello, I logged into my paper account however, I don’t see the “Trade” button. I do see 1M showing in the account but I am unable to simulate. Please help! Thank you
Hello, I logged into my paper account on PC however, I don’t see the “Trade” button. I do see 1M showing in the account but I am unable to simulate. (I just went to https://ndcdyn.interactivebrokers.com/sso/Login) Please help! Thank you
Hello, thank you for reaching out. All opened IBKR accounts come with an associated paper account. Here’s how to access paper trading and live trading across our platforms: https://www.ibkr.com/faq?id=32669446
Trading permissions, market data, and base currency mirror your live account. Please visit this link if you would like to update any of the above in your associated live account: https://www.interactivebrokers.com/sso/resolver?action=UserSettings
We hope this helps!