The three kinds of account
Demo
Paper trading. Practice with simulated money against real, live prices. Nothing here touches real funds.
Trading (on-chain)
Your real, self-custody account, funded with USDC. This is the default and the one most people use. You can have more than one.
API trading
A desktop-only account that connects with your own Kalshi/Polymarket API keys. Appears as Legacy in the account switcher.
Not sure which is which for trading? See On-chain vs API trading for a side-by-side comparison and setup steps.
Switching accounts
The account switcher lives at the top of the Balances panel and in the Portfolio panel’s summary bar. It shows the active account’s name and balance.
1
Open the switcher
Open the Balances panel (press /, type
BAL) and click the account name at the top.2
Pick an account
Choose the account you want. A checkmark marks the one that’s currently active.
3
You're switched
The change is instant. Your balances, positions, orders, and order routing all update to the account you chose, and Panther remembers it next time you open the app.
The Demo option appears once demo mode is available on your account, and the Legacy (API trading) option appears only on desktop when you’ve connected API keys. If you don’t see one, that’s why.
What changes when you switch
Switching accounts changes what you’re looking at and trading with:Using more than one trading account
You can create several on-chain trading accounts — handy for separating strategies or keeping funds apart. Each has its own label and its own wallets.1
Open the switcher
Click the account name at the top of Balances.
2
Add a new account
Choose + New account, give it a name, and confirm. Panther sets up its wallets just like your first account.
3
Fund it
Switch to the new account and add funds to start trading with it.
What’s next
Demo mode
Practice with paper trading before risking real funds.
On-chain vs API trading
Choose how you trade and set it up.