Webull Adds AI Sandbox to Paper Trading After 204M Orders

Webull has announced a significant upgrade to its paper trading platform, expanding simulated trading to cover crypto, futures, bonds and event contracts in addition to stocks and options. The company also said it is extending OpenAPI access to the paper trading environment, allowing developers and third-party applications to connect programmatically. The enhanced platform is scheduled to begin rolling out later this month.

According to Webull, users have placed more than 204 million simulated orders since the paper trading feature was introduced, making it one of the platform's most widely used tools. The company is now positioning paper trading as more than a learning resource, describing it as a realistic testing ground where traders can refine algorithmic strategies and AI-powered workflows before committing real capital.

The upgraded platform supports simulated trading across six market types and introduces advanced options functionality, including more sophisticated order types. Webull says a new pricing engine is designed to more closely reflect live market conditions and improve simulated order execution. Users will also be able to move between live and paper trading while preserving personalized layouts and workspace configurations.

Anthony Denier, Group President and U.S. CEO of Webull, said the redesigned experience combines the capabilities of the live platform into a realistic simulation, allowing investors of all experience levels to build confidence before putting real money at risk.

OpenAPI sandbox targets developers and AI applications

The OpenAPI expansion is a key part of the announcement. Developers, quantitative traders and fintech companies will be able to test applications, automate workflows and validate execution logic in a simulated environment without connecting to live brokerage accounts. Jack Keating, CEO of Webull Tech US and Head of Institutional, said the move gives developers, advanced traders and AI-powered applications a safer environment to build and refine trading workflows before they touch live markets.

The changes reflect a broader shift in retail brokerage competition, where firms increasingly differentiate on platform technology and client experience rather than commissions alone. Webull's live platform already supports equities, options, digital assets and futures, and extending those capabilities into paper trading lets prospective customers explore products before funding an account.

Multi-asset trading brings added complexity, including leverage and margin requirements in futures, volatility and expiration considerations in options, and interest-rate sensitivity in bonds. By improving simulation quality and adding developer access, Webull is positioning its paper trading environment as a full digital twin of the live platform, useful for both new investors and experienced quant teams.