Neostox is one of the most systematic virtual trading platforms in India.
What makes it special from most of the other paper trading platforms in India are mainly two things: a full-fledged desktop trading terminal and real-life-like price movements.
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Specifically, though we have many virtual trading platforms for mobile, Neostox is incredibly special for me because you can do paper trading on your desktop, which gives you a rather relaxed and realistic experience, as it makes paper trading more real-life-like and the process of learning more dynamic.
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Neostox at a Glance for Busy Go-Getters
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Pros
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Neostox is indeed a powerful and advanced platform for paper trading.
Compared to most of its alternatives, I am really happy with it, even if it costs a charge (costlier than the other platforms) for its premium plan that, however, gives you access to more features like multiple trades, options strategies, AI-driven trading, and much more.
Why Paper Trading is Important?
If you are a beginner in trading, it is highly recommended that you try trading first on paper and learn the basics about the functions and nuances of the real market.
I don’t claim that paper trading for a longer time will do any good for you. As it can’t touch your emotional predispositions regarding money, fear, and greed, take it just as a way to watch how the trading strategies and setups work.
Otherwise, no doubt, I say from my experience that you will be in trouble with your capital just from the start. It is still a fact that learning to trade without losing some money (controlled loss is a kind of gain here) can only be a daydreamer’s fantasy.
Try Out Paper Trading on Neostox Here
So let us have a detailed look at the Neostox paper trading platform here and check out how it works. Before moving on to the detailed Neostox review, see a sample of my P&L account on Neostox (screenshot below).
These were some lazy random trades that I managed to take to get this screenshot.
Neostox Hands-On Review
I have actually tried all the known paper trading apps and platforms that are available for trading in the Indian stock market. So I can say with certainty that even if it costs more than all other platforms, Neostox is worth buying for a beginner in trading.
Neostox is a very systematic and advanced paper trading platform. It absolutely mimics a real trading terminal with all the important elements: a user-friendly interface, fast and quick responses, and, of course, almost real-time price movements. What else would you expect from a paper trading platform?
Check out the below screenshot to see how easily you can set your stop-losses, targets, and more.
What I feel is that Neostox is more than a paper trading platform. If you have a subscription to its Gold Plan, it works like an all-in-one platform for traders. It has everything, starting with a strategy management system, screeners, complete reports, and more.
With the premium account, you don’t need to look for another platform to analyze the options chain, option analysis, open interest data, and so on. You also have dedicated screeners for indices, equities, industries, and sectors on Neostox.
What’s more, it hosts a large collection of educational resources in the form of articles, guides, webinars, videos, and more. All are carefully designed to help growing traders learn the basics and reach advanced levels on a single platform.
“Neostox offers much more than just a paper trading platform. It provides a wealth of educational resources, such as articles, videos, webinars, and personalized coaching, to help traders improve their skills and strategies,” says Hindustan Times.
Why Should You Choose?
Pre-Built Options Strategies
The Neostox platform offers pre-designed option strategies that are not available in the basic plan, though. You need to subscribe to the Silver or Gold plan to get access to the pre-programmed 30+ option trading strategies on Neostox.
You can just choose the market sentiment and select from the desired strategies to place a safe trade. As you may know, this feature is not only helpful for paper trading but is also fine for real trading, as you don’t need to rely on any other option trading platforms like Sensibull or Opstra if you have premium access to Neostox.
Check out the iron condor window on Neostox below. It is captured by noon on a Nifty 50 expiry day.
Desktop and Mobile App Versions
Unlike many other paper trading platforms out there, Neostox is available on both desktop and mobile. Though mobile is a good device that you can use for punching orders and managing trades, I don’t recommend mobile for market analysis or chart reading.
Professional traders do all such things on a computer with more than one screen in front of them. Only then is the right reading of the market possible, and you can make the best decisions in trading. Yes, trading is really a decision game.
So you get Neostox with a full-fledged, desktop-friendly paper trading terminal, and to your luck, you have everything related to trading and market analysis on the same platform, though it takes a small amount from your pocket per month.
Real-time LTP Tracking
The Neostox platform shows the real-time LTP as exactly what the market has. But it doesn’t reflect immediately in the profit and loss values, which may be because it has to comply with the SEBI restrictions to prevent Dabba trading or other faulty plays.
Smart and User-Friendly Interface
The paper trading platform features a smart and user-friendly interface. Once you are in your trading terminal, you have the watch list on the right side of the screen and the Nifty 5 chart and Active Positions on the other side. The chart is adjustable to various time frames, and you can also make basic drawings on the chart with the built-in tools.
Neostox Premium Plans and Prices
Neostox has three premium plans: Basic, Silver, and Gold. They are, as of this writing in October 2023, respectively priced at Rs. 275, Rs. 559, and Rs. 1,120 per month after a discount of 30%.
You get a lot of attractive features in the top-line Silver and Gold plans, which include access to the pre-designed options strategies, basket order, advanced options chain, options analyzer, and different screeners.
Try Out Paper Trading on Neostox Here
However, the key difference is that you can only take three trades per day in the basic plan, while you can take 20 trades in the silver plan. The gold plan gives you unlimited trades per day.
Also, in the basic plans, you get 2 lacs as initial virtual money, and it goes up to 20 lacs and 1 cr in the other plans. The top-up in the first two plans costs you INR 25 per 2,50,000, while the top-up is free on the gold plan.
Frequently Asked Questions
Is Neostox’s Premium Plan Worth It?
My quick answer is indeed a strong yes. It is worth buying. The premium plan gives you access to an amazing range of additional features.
But I think you only need the basic plan of 275 INR. I don’t think you should go for the silver and gold plans if you don’t have a plan to punch a large quantity of paper trades a day.
Is Neostox Free for Virtual Trading?
No, it is not.
Even if you can access the site for free and get full access to the trading panel for two trading sessions, it is a paid platform.
It has three paid plans, and the premium features, including pre-built options, strategies, and various screeners, are only available in the top premium plans. You can take up to three trades a day in the basic plan and do unlimited trades a day in the top-end gold plan.
Is Neostox Safe to Use for Paper Trading?
My reply on Quora for the same query is the answer here too.
Is Neostox Good for Paper Trading?
Nestox is a paper trading platform where you can trade stocks and options exactly like you would in a real-life trading terminal on both your laptop and mobile device.
In my experience, Nestox is one of the best paper trading platforms in India, and it supports all the major tradable instruments in the Indian stock market, like futures and options, stock options, and equity.
How to Use Neostox for Free?
You can access Neostox for free for a trial period of three days. It is basically a paid platform, and it definitely costs more than any of the other paper trading platforms in India, but I would say with certainty that it is worth the price.
What Are the Best Platforms for Paper Trading in India?
As of this writing, I would say Neostox.
With my experience in paper trading and real trading for over five years, I highly recommend Neostox, mainly for three reasons: a desktop-friendly interface, almost real, better say, corresponding price movements, and a very systematic trading platform where you can trade all the stock market’s tradable instruments like options, option strategies, futures, stock options, and more.
Vahid Vee is, by profession, a blogger and search marketer, and by passion, a stock investor and trader who loves to write on various ready-to-go platforms and systems that help people make good decisions in trading and investing. As an investor and trader on F&O, swing, and long-term positions in the Indian stock market, he is excited to share with you his experiences over at TradeTranz here. #Contact him @ vahidvee@tradetranz.in – LinkedIn – Quora – Reddit