TD Ameritrade's paperMoney simulator gives users $100,000 in virtual currency and a margin account to practice trading. The thinkorswim trading platform allows customers of the broker to run the simulator for free, while non-customers can use it for 60 days for a fee. The platform will also allow them to backtest their tactics, modify its layout, and so on.

By using a trading simulator one will be able to gain some practical insight into trading, especially to backtest how they intend to go about it, and get a better understanding of how to operate in real life situations. Virtual currency will be given so that one can practise with it.

A trading simulator is a software application or platform that enables individuals to practice trading financial instruments in a simulated environment that replicates real market conditions. Users are provided with virtual funds to execute trades and experiment with various trading strategies without risking real money.

Trading simulators offer a range of features, including real-time market data, historical price charts, and order execution capabilities. Users can test their trading skills, refine strategies, and gain experience without incurring financial losses.

These simulators are valuable tools for both novice traders looking to learn the ropes and experienced traders seeking to test new approaches. By offering a risk-free way to practice trading, trading simulators help traders develop confidence and competence before entering live markets.