Introduction
For new traders, it becomes easier if they can do some paper trading before investing real money. In this post, I will show you how to do paper trading using TWS of Interactive Brokers (IB) in India.
Why Interactive Brokers TWS?
There is another alternative to this Interactive Brokers TWS, which is NSE Pathsala. But it’s now closed. Rather the TWS of IB is much more advanced and you will feel that you are trading with a real broker.
Downloading and installing IB TWS
First, you need to download the Interactive Brokers terminal also known as TWS. You can download the file from here.
Once the TWS is downloaded you can see it in your browser’s extreme bottom left section.
Now run the TWS setup file. It will ask if you want to run the file.
Click on RUN.
Logging in to the Interactive Brokers TWS demo mode
Once the Traders Work Station is installed run it by double-clicking the TWS desktop icon. TWS will now load.
Once TWS is loaded it will ask for a username and password. Click on TRY THE DEMO.
The next screen will ask for your valid email address. Put your email address and the TWS will log into demo mode. You can take a quick tour that will make you comfortable with the usage.
Adding symbols in Interactive Brokers India TWS
Now we will add a symbol. Say I will add Reliance in Interactive Brokers TWS. Write RELIANCE in the search box at the top right corner and click SEARCH. This will open the symbol list. Choose your symbol and RELIANCE is added to the market watch.
Demo trading in IB TWS Terminal
You can also demo trade in your symbol. Once you are comfortable with demo trading you can start real money trading once you open an account in Zerodha.
Interactive Brokers India address
IB is now in India also. The address of IB India is 58, Sir Mathuradas Vasanji Rd, Vijay Nagar Colony, J. B. Nagar, Andheri (E), Mumbai, Maharashtra – 400053.
FAQ
Yes, Interactive Brokers is available in India. You can open an account with IB India and start trading.
Yes, you can trade in US options from India using Interactive Brokers. However, it is important to note that trading in US options involves a higher level of risk and requires a different margin structure.
IB charges a commission on trades that vary depending on the product, market, and trading volume. They also charge a monthly minimum commission. For more detailed information on their pricing, you can visit the Interactive Brokers India website.
Interactive Brokers India is registered with the Securities and Exchange Board of India (SEBI) as a stockbroker and is subject to SEBI regulations.
Conclusion
Paper trading is an excellent way for new traders to get comfortable with the process before investing real money. In this post, we have shown you how to do paper trading using TWS of Interactive Brokers (IB) in India. The TWS is much more advanced than other alternatives, making you feel like you are trading with a real broker. By following the simple steps mentioned above, you can log into the demo mode of TWS, add symbols, and start demo trading. Once you are comfortable with demo trading, you can open an a/c with Zerodha for real money trading.
my computer is not compitible for latest window 64.exe what can i do?
Suresh there should be a 32 bit version also on the IB site. Download it.
Is there a way to add entire stocks in NIFTY or Bank Nifty to a watch list in IB TWS (demo or real) ?
Yeah, you should be able to do that in TWS. However, RKSV’s Upstox Pro Demo A/c can be better for that. To try it CLICK HERE.