If you’re new to the stock market, paper trading is the way to go. This method allows you to buy shares of different companies without risking any money.
Once familiar with how it works, you can deposit money into your Fidelity account and start investing.
Does Fidelity Have Paper Trading?
Despite my most recent conversation with Fidelity’s official rep, I can confirm that as of 2023, Fidelity still does not offer a dedicated paper trading account on their website.
The Active Trader Pro Alternative
Previously, I mentioned an alternative method using Active Trader Pro’s demo account feature. For starters, ATP is a comprehensive charting/trading platform powered by Fidelity.
Fidelity appears to have disabled this demo account feature within Active Trader Pro. It’s no longer possible to use the software for paper trading.
With a demo account on Active Trader Pro, you can do the following:
Model trades and generate ideas with options analyticsMove from idea to trade using virtual account information
Market data are delayed in Active Trader Pro when you are on their demo virtual account.
How to Sign Up for a Fidelity Paper Trading Account
1. Visit the test drive page of Active Trader Pro
2. Fill out your information (your name, email address, etc.)
3. Click Submit.
4. You will be taken to a confirmation page. It lets you know that you’ve successfully signed up for a demo account with Fidelity’s Active Trader Pro.
5. Click on Download Demo Now. This will install the demo version of Active Trader Pro software on your computer.
In Summary
Fidelity’s stance on paper trading remains unchanged, and the Active Trader Pro demo account feature is no longer available.
If you’re still interested in paper trading, you may want to explore other brokers. A demo account is available on TD Ameritrade/Charles Schwab through their ThinkorSwim platform. Or you can try WeBull, which also has a paper trading account with fake money.