The most realistic
paper trading API

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 + '%');
REST + SSE
Trading & portfolios
WebSockets
Real‑time quotes
22 Brokers
Rule emulation
Free Tier
Start building fast

The problem

Unrealistic practice creates
expensive surprises

Other platforms
BUY 100 AAPL$197.60
SELL 500 TSLAInstant fill
Stop @ $348Perfect exit

Slippage

$0

Fees

$0

Latency

0ms

Partial fills

None

Hidden cost$0.00
Paper
BUY 100 AAPL$197.73 +$13
SELL 500 TSLA310 filled
Stop @ $348$346.95

Slippage

-$325

Fees

-$8.45

Latency

250ms

Partial fills

38%

Hidden cost-$368.95

Paper shows you what trading actually feels like—with all the friction, slippage, and market realities that other platforms ignore.

Core features

Built for realistic
trading simulation

Real-Time Execution

Matching logic based on NBBO, order type, and time priority. Experience realistic fills, not instant perfection.

Market Latency

Simulate network delays from retail to colocated. Test how latency impacts your strategy performance.

Partial Fills

Large orders get partial fills based on real liquidity. Experience slippage and price impact modeling.

Market Events

Trade through halts, circuit breakers, and auction periods. Navigate real market conditions.

Real Margin & Fees

Full margin simulation with interest, calls, and liquidations. Accurate SEC, FINRA, and exchange fees.

P&L Tracking

Track realized and unrealized gains with accurate cost basis. See your true performance.

22 broker rule emulators

Interactive BrokersFidelitySchwabRobinhoodWebullE*TRADETastytradeTD Ameritrade+14 more

Pro tools

Advanced features
the pros actually use

Portfolio margin

Test strategies with professional margin models before risking real capital.

SIMPLEShock-based calculations
SPANCME's risk-based model
TIMSOCC's theoretical pricing
Order types

Execute sophisticated strategies with institutional-grade order types.

Trailing StopDynamic risk management
Bracket OrdersProfit & loss targets
FOK & IOCFill-or-Kill, Immediate-or-Cancel
Extended HoursPre-market & after-hours

Live demo

SIMPLE Risk Engine

Basic shock-based calculation

SIMPLE Risk Engine
// Running SIMPLE margin calculation calculatePortfolioMargin({ engine: "SIMPLE", positions: portfolio.positions, shockPercent: 15, netLiquidation: 50000 }) => Running risk scenarios... => Equity shock: -$7,500 => Margin requirement: $12,500 => Available buying power: $37,500
✓ Calculation complete

Bracket Order Entry

Complete risk management strategy

Bracket Order Entry
// Entering bracket order with targets { "symbol": "NVDA", "type": "LIMIT", "side": "BUY_TO_OPEN", "quantity": 100, "limitPrice": 485.00, "isBracketOrder": true, "profitTargetPrice": 510.00, "stopLossPrice": 465.00, "timeInForce": "GTC" } => Order submitted to matching engine => Parent order: PENDING => Profit target: PENDING_PARENT => Stop loss: PENDING_PARENT
✓ Bracket order staged

First of its kind

Trade with AI agents
using natural language

Paper is the first trading platform with Model Context Protocol (MCP) integration. Let AI assistants execute trades and manage portfolios through conversation.

You

"Buy 100 shares of Apple and set a stop loss at 5% below"

AI

"I'll place that order. Current AAPL price is $178.50..."

OrderBUY 100 AAPL @ Market
Stop Loss$169.58 (-5%)
You

"Show me top performing sectors"

AI

"Technology is leading at +15.2%, followed by Healthcare..."

Natural Language Trading

Describe complex strategies in plain English

Autonomous Execution

AI agents can place, modify, and cancel orders

Portfolio Intelligence

Get AI-powered insights on positions and performance

Risk-Free Testing

Perfect environment to test AI trading strategies