Build trading bots on real‑world market friction: slippage, partial fills, and broker‑specific rules. REST + SSE + WebSockets, plus MCP for AI workflows.
// Place a realistic market order
const API_KEY = 'your_api_key';
const response = await fetch('/api/oms/orders', {
method: 'POST',
headers: {
'X-API-Key': API_KEY,
'Content-Type': 'application/json'
},
body: JSON.stringify({
customerId: '550e8400-e29b-41d4-a716-446655440000',
portfolioId: '660e8400-e29b-41d4-a716-446655440001',
assetClass: 'EQUITY',
symbol: 'AAPL',
side: 'BUY_TO_OPEN',
quantity: 100,
type: 'MARKET',
timeInForce: 'DAY',
latencyProfile: 'COLOCATED'
})
});
const order = await response.json();
console.log('Filled at: $' + order.averageFilledPrice);
console.log('Slippage: ' + order.executionQuality?.averageSlippagePercent + '%');The problem
Slippage
$0
Fees
$0
Latency
0ms
Partial fills
None
Slippage
-$325
Fees
-$8.45
Latency
250ms
Partial fills
38%
Paper shows you what trading actually feels like—with all the friction, slippage, and market realities that other platforms ignore.
Core features
Matching logic based on NBBO, order type, and time priority. Experience realistic fills, not instant perfection.
Simulate network delays from retail to colocated. Test how latency impacts your strategy performance.
Large orders get partial fills based on real liquidity. Experience slippage and price impact modeling.
Trade through halts, circuit breakers, and auction periods. Navigate real market conditions.
Full margin simulation with interest, calls, and liquidations. Accurate SEC, FINRA, and exchange fees.
Track realized and unrealized gains with accurate cost basis. See your true performance.
22 broker rule emulators
Pro tools
Test strategies with professional margin models before risking real capital.
Execute sophisticated strategies with institutional-grade order types.
Live demo
Basic shock-based calculation
Complete risk management strategy
First of its kind
Paper is the first trading platform with Model Context Protocol (MCP) integration. Let AI assistants execute trades and manage portfolios through conversation.
"Buy 100 shares of Apple and set a stop loss at 5% below"
"I'll place that order. Current AAPL price is $178.50..."
"Show me top performing sectors"
"Technology is leading at +15.2%, followed by Healthcare..."
Describe complex strategies in plain English
AI agents can place, modify, and cancel orders
Get AI-powered insights on positions and performance
Perfect environment to test AI trading strategies