Paper Trading Simulator — Practice Without Risk
A free paper trading simulator built for day traders. Place limit + market orders against the live L2 book — fill logic uses the real best bid/ask, not a mid-price estimate. Every trade goes into your equity curve and trade journal. No deposit required.
Real fill logic on the L2 book
Market orders fill against the visible L2 book — your order walks the ladder and slips through the size at each level, exactly like a real broker. Limit orders fill when the bid crosses your price with sufficient size. Half-spread cost is disclosed for free-tier users when no live book is available; Pro users fill against the live book at Pro cadence.
The simulator's fill logic was audit-verified on 2026-08-03 (commit fd13a137): no-book paths now disclose the synth half-spread as spreadCostUsd instead of collapsing to zero, and the on-book path uses real depth-walk with no rounding.
AI edge review after 5 paper trades
After 5 paper trades the simulator offers an AI edge summary — your hold-time asymmetry, time-of-day P&L skew, repeat offenders, and revenge-trading patterns. The full summary unlocks as a Pro upgrade trigger — see the pricing page for the Pro plan.
Paper trading simulator FAQ
Is the Tapeboard paper trading simulator free?
Yes. The simulator is free with a Tapeboard account and no deposit is required. Every simulated trade feeds your equity curve and trade journal.
How do simulated orders fill?
Market orders fill against the visible Level 2 book: your order walks the ladder and slips through the size at each level, like a real broker. Limit orders fill when the bid crosses your price with sufficient size.
What is spreadCostUsd?
When no live book is available, the free tier discloses a synthetic half-spread as spreadCostUsd instead of collapsing it to zero. The on-book path uses real depth-walk with no rounding; the fill logic was audit-verified on 2026-08-03.
Does the simulator keep a trade journal?
Every fill lands in the trade journal and the equity curve. After 5 paper trades the simulator offers an AI edge summary covering hold-time asymmetry, time-of-day P&L skew, repeat offenders, and revenge-trading patterns.
Can I practice day trading without risking real money?
That is the point. Practice the full workflow: limit and market order entry, fills against real or disclosed quotes, journal review, and edge analysis, with zero capital at risk. Free-tier market data is delayed at least 15 minutes.