Webull (NASDAQ: BULL) announced an expansion of its paper trading feature, adding simulated trading for crypto, futures, bonds, and event contracts to its existing stocks and options simulation, according to a press release.

The platform said users have placed more than 204 million simulated orders through its paperTrade tool since launch. The updated version also introduces OpenAPI access, allowing developers and algorithmic trading applications to connect programmatically and test trading workflows in the simulated environment.

Additional enhancements include advanced options order functionality, a pricing engine intended to better reflect live market conditions, and a dedicated interface that allows users to switch between live and paper trading while retaining customized workspace settings.

"Investing is a skill that develops through experience, but gaining that experience doesn't need to require risking your savings," said Anthony Denier, Group President and U.S. CEO of Webull.

Jack Keating, CEO of Webull Tech US and Head of Institutional, said the OpenAPI extension gives developers and AI-powered applications a risk-free environment to build and test trading workflows before using live markets.

The enhancements are set to begin rolling out to users later in July. Webull operates in 16 markets and reports more than 28 million registered users globally.