thinkorswim vs Webull: paper trading compared
Schwab thinkorswim paperMoney is a broker demo; Webull paperTrade is a broker demo. Here is how their paper trading compares using only facts from provider pages and cited reviews (see each listing's sources).
Price: thinkorswim — Free; Webull — Free. Market data: thinkorswim — Real-time simulated market data (paperMoney); Webull — real-time incl. Level 2.
Account: thinkorswim — Schwab login, or 30-day Guest Pass without account (not extendable); Webull — Free Webull account, $0 balance. Virtual balance: thinkorswim — $100,000; Webull — Unlimited virtual funds. Reset: thinkorswim — unknown; Webull — Yes (Reset Account; legacy system lets you set an amount).
Markets: thinkorswim — US; Webull — US. Platforms: thinkorswim — desktop, web, mobile; Webull — mobile, desktop, web.
Key differences in our data: thinkorswim adds forex, futures; Webull adds ETFs, crypto, event contracts.
Pick the one that matches the market you plan to trade and the country you live in — the availability rows below show which countries each provider confirms.
| Schwab thinkorswim paperMoney | Webull paperTrade | |
|---|---|---|
| Website | Visit site | Visit site |
| Type | broker demo | broker demo |
| Markets | US | US |
| Assets | stocks, options, futures, forex | stocks, ETFs, options, crypto, event contracts |
| Data | Real-time simulated market data (paperMoney) | real-time incl. Level 2 |
| Price | Free | Free |
| Account | Schwab login, or 30-day Guest Pass without account (not extendable) | Free Webull account, $0 balance |
| Starting balance | $100,000 | Unlimited virtual funds |
| Reset | unknown | Yes (Reset Account; legacy system lets you set an amount) |
| Replay | unknown | unknown |
| Platforms | desktop, web, mobile | mobile, desktop, web |
| Limits | Guest Pass limited to 30 days | Legacy paper data cleared after 180 days inactivity; Webull Australia paper trading covers US shares only |
| Country availability | Confirmed in some countries; others unverified Available: US Guest Pass offered on schwab.com and international.schwab.com; no eligible-country list published for Guest Pass | Confirmed in some countries; others unverified Available: US, UK, AU, MY, ZA Webull operates in 16 markets; paper trading confirmed on US, UK, AU (US shares only), MY and ZA sites |
| Available in US | Available (verified) | Available (verified) |
| Available in UK | Unverified | Available (verified) |
| Available in IN | Unverified | Unverified |
| Available in AU | Unverified | Available (verified) |
| Available in CA | Unverified | Unverified |
FAQ
Is thinkorswim or Webull free for paper trading?
thinkorswim: Free. Webull: Free.
Which has real-time data, thinkorswim or Webull?
thinkorswim: Real-time simulated market data (paperMoney). Webull: real-time incl. Level 2.
Do thinkorswim and Webull require an account?
thinkorswim: Schwab login, or 30-day Guest Pass without account (not extendable). Webull: Free Webull account, $0 balance.
Where are thinkorswim and Webull available?
thinkorswim: Confirmed in some countries; others unverified Available: US Guest Pass offered on schwab.com and international.schwab.com; no eligible-country list published for Guest Pass . Webull: Confirmed in some countries; others unverified Available: US, UK, AU, MY, ZA Webull operates in 16 markets; paper trading confirmed on US, UK, AU (US shares only), MY and ZA sites .
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Information only, not financial advice. Simulated results do not predict real results. Features and availability change and vary by country; check the provider's site. Sponsored or affiliate links, if any, are labelled.