Paper Trading with LYNX

Testing your automated strategy on a demo account

It is wise to always test your API components with your Paper Trading Account before you actually implement any new API system.

Although we strive to make the demo experience as close to real trading as possible there are some inherent limitations to trading with a Paper Trading Account.

A Paper Trading Account simulates most aspects of a production account, the limitations you may encounter are due to its construction as a simulator with no execution or clearing abilities. These differences include but are not limited to:

  • No support for some order types including: VWAP, Auction, RFQ, and Pegged to Market.
  • Fills are simulated from the top of the book; no deep book access.
  • Limited combo and EFP trading.
  • Stops and other complex order types are always simulated in paper trading; this may result in slightly different behavior from a production account.
  • Penny trading for US Options is not supported. You will be able to submit the order but it will not receive a penny fill.
  • The trade simulator will reject the remainder of any exchange-directed market order that partially executes. This may or may not match behavior of a real-world exchange. Market orders received while there is no quote on the opposite side will be held until the market data arrives (i.e. until the first partial fill).
  • Mutual Fund trading is not supported in a Paper Trader Account.