by admin | May 7, 2024
Introduction
Stock market trading is the most volatile sector, and one has to gain good practice to trade error free. There are many online platforms that allow beginners to learn to trade, called the Paper Trading platform, and one such is Neostox. This online paper trading platform helps traders trade without investing their real money and learn how to trade strategically. This article presents you with the complete Neostox review and how this paper trading platform gives you a realistic and relaxed trading experience to do it with real money later.
Table of Contents
What is Neostox?
Neostox is one of India’s most organized virtual stock simulator that beginner traders can use to trade securities, such as stocks, options, and futures, on the Indian stock market. Two significant features that make this virtual trading platform different from others are- a fully functional desktop trading interface and price changes that closely mimic real-world events.
Moreover, Neostox virtual trading allows you to do paper trading from the comfort of your desktop, mobile making the learning process more dynamic and paper trading more like in real life.
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How to use Neostox Platform for Options Trading?
If you are using the Neostox virtual trading Platform, easy to use in trading and learning. There are specific steps that you need to follow to get the options trading done quickly using the below steps-
- Neostox Register and Login:- The very first step is to register neostox yourself with the Neostox website and login with your credentials.
- Search for Instruments:- Neostox has multiple options for paper trade. From equities, futures, and options to commodities, you can choose among the best through which you want to learn to trade and gain confidence.
- Make use of Charts and Insights:- During trading, you can view charts and initiate buying/selling trades in just one click. If you are using the Neostox virtual trading app, you will have the option of the search engine to find suitable instruments for trading,
- Place Order Easily:- Once you select the trading option, you can click on buy/sell and hit the trading option. Your preferences will be saved, and you can trade accordingly. You can accordingly set your stop-loss under a fixed amount.
- Set the Investment Amount:- You can now decide on the investment amount (not actual). There’s no need for calculators. Neostox will automatically calculate the amount you invest based on the quantity or percentage of virtual capital you enter.
- Quantity Calculation: Auto/Fixed:- Quantity calculations take a lot of time, mainly when dealing with choices. Once you set the amount, Neostox will compute the quantity automatically for you if you simply pick “auto calculate the quantity.” Faster trading and less trouble.
- Place a Market Order:- When you submit a market order, the system virtually executes it in accordance with the bid/offer price that is currently trading in the live market after reading the order book in real-time. This is also what takes place in real-time.
- Setting up the Trigger Points:- Neostox has an innovative stop limit, allowing you to set trigger points to enter the trade and track the instrument price.
Neostox Rating and Download Link
| Neostox App Rating | Neostox App Download Link | Neostox App Downloads |
| 2.6/5 | Android | 100k |
PaperTradingApp Review of Neostox
After experimenting with various paper trading platforms designed for the Indian stock market, we can say with confidence that, despite the higher cost compared to other options, Neostox is a valuable option for beginners trading.
Neostox stands out as a highly systematic and advanced paper trading platform. It faithfully replicates a genuine trading terminal, incorporating essential features such as a user-friendly interface, rapid responses, and near-real-time price fluctuations. What more could one anticipate from a paper trading platform?
Also Read:- Guide to Learn Trading
Top Reasons to Choose Neostox Virtual Trading
Virtual trading Neostox offers multiple reasons to use for the learning process. Below, we have mentioned some reasons why Neostox is perfect for virtual trading and learning without investing real money.
Carries Pre-Built Option Strategies
Both the Neostox virtual trading app and web platform come with pre-designed option strategies, even in the basic plan. To access the pre-programmed 30+ option trading methods on Neostox, you must be a subscriber to the silver or gold plan.
To execute a secure transaction, all you have to do is decide on the sentiment of the market and pick your preferred strategy. As you may be aware, if you have premium access to Neostox, you may use this function for actual trading as well as paper trading, as it eliminates the need for any other option trading platforms.
Has both Desktop and Mobile App
Neostox is accessible on both desktop and mobile devices, which sets it apart from many other paper trading platforms. While mobile is a valuable tool for managing trades and punching orders, I do not suggest using it for chart reading or market analysis.
Professional traders use a computer with multiple screens in front of them for all these tasks. It is only then that you can accurately assess the market and make the most profitable trading decisions. However, if you like to trade while travelling, the best you can do is use the Neostox virtual trading app.
Live LTP Monitoring
Paper traders can use the real-time LTP monitoring available on both the app and desktop versions. LTP is an important feature in trading as it offers traders real-time view of the current stock price. Moreover, investors can check if the stock’s value is up or down. Having a LTP tool can make the trading easy and safe.
Intelligent and Easy-To-Use Interface
Neostox virtual trading simulator has an intelligent and intuitive user interface. When you first access your trading terminal, the Nifty 5 chart and Active Positions are on one side of the screen, while the watch list is on the right. The chart may be adjusted to different periods, and its integrated tools allow you to draw simple symbols on it.
NeoScreener Feature
Neostox comes with a NeoScreener feature, which you can use to do market analysis driven by artificial intelligence and will transform the way you engage with the financial markets. NeoScreener is a real-time stock screener that scans over 10,000+ tradable instruments and gives you detailed market data and instant insights.
You can obtain up-to-date, real-time market data on volume, industry sectors, bid and ask prices, LTP (last traded price), spread, and other relevant information with AI-driven Demand/Supply computations.
Advanced Option Chains
Neostox’s Advanced Options Chain feature offers a new dimension of virtual trading. With real-time options data, you can decide your trading path; this cutting-edge technology goes beyond standard analysis.
With our real-time options data, which includes essential indicators like volume, open interest, bid and ask prices, last trading prices, and implied volatility (IV), you can stay ahead of the competition. You may be confident that your options trading strategy is constantly one step ahead thanks to this extensive data.
Stock Screener
This effective paper trading tool from Neostox provides a real-time perspective of the stock market by displaying the list of the top 100 gainers and losers. It is intended to transform the way traders engage with the stock market by giving them brief, detailed insights.
Neostox’s Stocks Screener is a comprehensive analytical tool, not just a list. Some of the data you will receive are- Name, Last Traded Price (LTP), Volume, Total Sell Limit Orders etc. You can act swiftly and effectively by making well-informed decisions with this level of detail.
Index Screener
Using Neostox’s Index Screener, you can navigate through the complexities of the stock market. With the ability to combine real-time index tracking with detailed performance information, our advanced screener offers a complete perspective of market indices that is invaluable to both investors and traders.
It provides a precise and up-to-date summary of the state of each trading market index by painstakingly calculating and averaging the performance of the underlying companies. For individuals who want real-time stock market index data to make quick decisions, using Index Screener is the best.
AI Option Trading
Using Neostox’s AI-powered options trading feature can help you navigate the difficulties of option trading. This cutting-edge technology is a vital resource for any trader wishing to use intelligent options trading methods since it combines the accuracy of AI Options Strategy technology with the simplicity of an intelligent trading assistant.
In the age of algo-trading, the AI-powered Options Assistant gives you an advantage by making sure your trades are timely and in line with in-depth market analysis.
Also Read:- Stock Trading For Beginners
Benefits of Using Neostox for Virtual Trading
For any newcomer, learning or studying about stock trading is quite important. There are different aspects that one has to know before getting into actual money trading. Using the Neostox app for virtual trading can give you many benefits, including-
- Best for Demo Trading:- Demo trading is completely free to use, and it is best to learn before actual trading. There is no chance that poor judgment or inauspicious timing would result in financial loss. It also enables you to spot weaknesses in your analytical procedure. Consequently, you can focus on creating a clear trading advantage.
- Practical Experience:- It gives customers practical experience with every facet of the trading process. Pre-market planning and estimating final profit or loss are among the things they study. In addition, customers get comfortable practising with money software on the broker’s simulator. They are aware that there are no risks involved and that there won’t be any monetary losses.
- Get Relevant Statistics:- You get relevant statistics after several weeks of trading practice. You gain a deep knowledge of new trading strategies, and the market approach is deeper.
- No Emotions Attached:- The two common feelings that can arise from trading are fear and greed. These feelings often mask essential facts needed for effective risk management. You can get off this emotional roller coaster and concentrate on the mathematical process instead of the risks when you conduct a transaction on paper.
Neostox Trading Plans
Neostox offers three premium plans – Basic, Silver, and Gold. As of February 2024, their monthly price is, after upto a 30% discount, Rs. 281, Rs. 671, and Rs. 1,120, respectively.
The top-line silver and gold plans come with a tonne of appealing features, such as access to pre-made options strategies, basket order, options analyser, complex options chain, and various screeners.
Start Paper Trading Now with the Neostox Trading Platform
We have covered the maximum points under this Neostox review that will help you decide why and how you can use Neostox for paper trading.
Paper trading with Neostox aims to build confidence when you start real money and learn what the real money trading market environment is all about. Download the Neostox mobile app now and start paper trading for a long-term practical trading experience.
People Also Read:- futures and options trading
FAQs on Neostox Paper Trading
Check out different FAQs regarding Neostox Paper Trading here.
Q.1. Is Neostox free for paper trading?
Ans:- Yes, it is absolutely free to use and practice.
Q.2. Is Neostox paper trading platform worth using?
Ans:- Yes, Neostox offers the best trading experience for beginners wanting to get into real-trading environment. It comes with all essential features that will help beginners to learn and practice without investing real money.
Q.3. Is worth buying the premium plan of Neostox?
Ans:- Yes, it is worth to pay and paper trader using the premium version. However, if you don’t have a plan to paper trade for long, then the basic plan of Rs 275 is the best.
Q.4. Is Neostox free for virtual trading?
Ans:- No, because it is a premium platform, even though you can visit it for free and have two trading sessions with full access to the trading panel.
There are three paid plans available, and only the top premium plans have access to the premium features, which include pre-built alternatives, tactics, and different screeners. In the basic plan, you can make up to three trades per day; in the top-tier gold plan, you can make as many trades as you like, every day.
Q.5. What orders are available in Neostox app?
Ans:- There are three different types of orders available- Market Orders, Stop Limit, and Limit Orders. Moreover, you have the option of intraday and regular orders.
Q.6. Is Neostox best for Paper Trading?
Ans:- Yes, Neostox comes with multiple features and tools to learn and trade without using real money. You can trade on stock options, futures, commodities, and others.
Q.7. Does paper trading have risk?
Ans:- Paper trading doesn’t involve any real money, so you don’t have any risk. If you are new to stock trading and are not yet comfortable risking your money, start with paper trading.
Q.8. Is Neostox safe?
Ans:- Yes, once you place the order, it is registered, and you can monitor real-time profit and loss percentage based on price fluctuations.