Posted by forex at 6:32 AM
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1. Review the services and commission schedules of online stock brokers that offer paper trading. The brokers that offer practice trading are the ones geared toward day traders or options traders. Some brokers that offer virtual trading are TradeMonster, optionsXpress and ThinkorSwim. Although these sites target options traders, their practice trading systems also allow stock investing.
2. Open a practice trading account with the broker you selected. The simulated accounts will give you access to the same investing and trading tools as a regular investment account.
3. Practice buying and selling stocks using the broker's paper trading system. The brokers will allow you to use the practice trading system for 30 to 90 days without opening a regular investment account.