diff --git a/backend/src/main/java/com/goldenchart/service/PaperTradingService.java b/backend/src/main/java/com/goldenchart/service/PaperTradingService.java
index 3d2f0eb..0f3dc8b 100644
--- a/backend/src/main/java/com/goldenchart/service/PaperTradingService.java
+++ b/backend/src/main/java/com/goldenchart/service/PaperTradingService.java
@@ -263,12 +263,26 @@ public class PaperTradingService {
         GcAppSettings app = appSettingsService.getEntity(userId, deviceId);
         if (!Boolean.TRUE.equals(app.getPaperTradingEnabled())) return;
         if (!Boolean.TRUE.equals(app.getPaperAutoTradeEnabled())) return;
-        boolean marketActive = liveSettingsRepo.findActiveByMarket(market).stream()
-                .anyMatch(s -> Boolean.TRUE.equals(s.getIsLiveCheck()));
+        List<GcLiveStrategySettings> liveForMarket = liveSettingsRepo.findActiveByMarket(market).stream()
+                .filter(s -> Boolean.TRUE.equals(s.getIsLiveCheck()))
+                .toList();
+        boolean marketActive = !liveForMarket.isEmpty();
         if (!Boolean.TRUE.equals(app.getLiveStrategyCheck()) && !marketActive) return;
 
         try {
             GcPaperAccount account = getOrCreateAccount(userId, deviceId, app);
+            String positionMode = liveForMarket.stream()
+                    .map(GcLiveStrategySettings::getPositionMode)
+                    .filter(m -> m != null && !m.isBlank())
+                    .findFirst()
+                    .orElse("LONG_ONLY");
+            if ("LONG_ONLY".equals(positionMode)) {
+                GcPaperPosition posNow = positionRepo.findByAccountIdAndSymbol(account.getId(), market)
+                        .orElse(null);
+                double held = posNow != null ? posNow.getQuantity().doubleValue() : 0;
+                if ("BUY".equals(signalType) && held > 0) return;
+                if ("SELL".equals(signalType) && held <= 0) return;
+            }
             double feeRate = pct(app.getPaperFeeRatePct(), 0.05);
             double slip = pct(app.getPaperSlippagePct(), 0);
             double minOrder = app.getPaperMinOrderKrw() != null
diff --git a/frontend/src/components/PaperTradingPage.tsx b/frontend/src/components/PaperTradingPage.tsx
index 8f33859..871e9b3 100644
--- a/frontend/src/components/PaperTradingPage.tsx
+++ b/frontend/src/components/PaperTradingPage.tsx
@@ -117,9 +117,8 @@ const PaperTradingPage: React.FC<Props> = ({
     } finally {
       setInitialLoading(false);
     }
-    onPaperOrderFilled?.();
     if (opts?.focusHistory) setRightTab('history');
-  }, [onPaperOrderFilled]);
+  }, []);
 
   useEffect(() => {
     void Promise.all([
diff --git a/frontend/src/components/VirtualTradingPage.tsx b/frontend/src/components/VirtualTradingPage.tsx
index ef62132..f7d1f50 100644
--- a/frontend/src/components/VirtualTradingPage.tsx
+++ b/frontend/src/components/VirtualTradingPage.tsx
@@ -28,7 +28,7 @@ import {
 } from './virtual/VirtualGridUnifiedHeader';
 import type { VirtualCardDisplayMode } from './virtual/VirtualTargetCard';
 import { useVirtualIndicatorSnapshots } from '../hooks/useVirtualIndicatorSnapshots';
-import { useVirtualBackendTradeSignals } from '../hooks/useVirtualBackendTradeSignals';
+import { PAPER_TRADES_CHANGED_EVENT } from '../utils/paperTradeEvents';
 import { useVirtualTargetLiveStatus } from '../hooks/useVirtualTargetLiveStatus';
 import type { ChartRealtimeSource } from '../hooks/useChartRealtimeData';
 import {
@@ -195,15 +195,17 @@ const VirtualTradingPage: React.FC<Props> = ({
     session.running,
   );
 
-  useVirtualBackendTradeSignals({
-    enabled: paperTradingEnabled && paperAutoTradeEnabled,
-    session,
-    targets,
-    tickers,
-    paperAutoTradeBudgetPct,
-    positions: summary?.positions,
-    onFilled: () => void refreshPaperData({ focusHistory: true }),
-  });
+  /** 백엔드 자동 체결 후 UI 갱신(프론트는 주문 실행 안 함) */
+  useEffect(() => {
+    if (!session.running) return;
+    const onTradesChanged = () => { void refreshPaperData(); };
+    window.addEventListener(PAPER_TRADES_CHANGED_EVENT, onTradesChanged);
+    const pollId = window.setInterval(onTradesChanged, 20_000);
+    return () => {
+      window.removeEventListener(PAPER_TRADES_CHANGED_EVENT, onTradesChanged);
+      window.clearInterval(pollId);
+    };
+  }, [session.running, refreshPaperData]);
 
   const mergedLiveStatus = useMemo(() => {
     if (!session.running) return liveStatusByMarket;
diff --git a/frontend/src/components/paper/PaperLedgerTab.tsx b/frontend/src/components/paper/PaperLedgerTab.tsx
index d06ed31..329747d 100644
--- a/frontend/src/components/paper/PaperLedgerTab.tsx
+++ b/frontend/src/components/paper/PaperLedgerTab.tsx
@@ -21,7 +21,7 @@ const PaperLedgerTab: React.FC<Props> = ({ refreshKey = 0 }) => {
 
   useEffect(() => {
     let cancelled = false;
-    setLoading(true);
+    if (entries.length === 0) setLoading(true);
     void loadPaperLedger({ page: 0, size: 50 }).then(page => {
       if (!cancelled) {
         setEntries(page.content);
@@ -29,6 +29,8 @@ const PaperLedgerTab: React.FC<Props> = ({ refreshKey = 0 }) => {
       }
     });
     return () => { cancelled = true; };
+    // entries.length: 최초 로드만 스피너 — 갱신 시 목록 유지(깜빡임 방지)
+    // eslint-disable-next-line react-hooks/exhaustive-deps
   }, [refreshKey]);
 
   if (loading) return <p className="ptd-muted">원장 로딩…</p>;
diff --git a/frontend/src/components/paper/PaperLeftStrategyTab.tsx b/frontend/src/components/paper/PaperLeftStrategyTab.tsx
index 4f8bc0f..698a5af 100644
--- a/frontend/src/components/paper/PaperLeftStrategyTab.tsx
+++ b/frontend/src/components/paper/PaperLeftStrategyTab.tsx
@@ -85,8 +85,8 @@ const PaperLeftStrategyTab: React.FC<Props> = ({
       </div>
       <p className={`ptd-left-status ${paperAutoTradeEnabled ? 'ptd-left-status--on' : ''}`}>
         {paperAutoTradeEnabled
-          ? '자동매매 ON — 가상투자 Match 시 가상 계좌 자동 체결'
-          : '자동매매 OFF — 가상투자 타이틀바에서 변경'}
+          ? '자동매매 ON — 가상 Match 후 서버가 전략 시그널·모의 체결(화면 꺼져도 동작)'
+          : '자동매매 OFF — 수동 주문만 모의 계좌에 체결'}
       </p>
     </>
   );
diff --git a/frontend/src/components/virtual/VirtualGridUnifiedHeader.tsx b/frontend/src/components/virtual/VirtualGridUnifiedHeader.tsx
index 3bdcfc1..7de9a79 100644
--- a/frontend/src/components/virtual/VirtualGridUnifiedHeader.tsx
+++ b/frontend/src/components/virtual/VirtualGridUnifiedHeader.tsx
@@ -110,7 +110,7 @@ export const VirtualSessionHeaderControls: React.FC<SessionProps> = ({
           !paperTradingEnabled
             ? '설정 › 가상투자에서 가상매매를 활성화하세요'
             : paperAutoTradeEnabled
-              ? 'Match 충족 시 자동 매수·매도'
+              ? 'Match 시 서버 자동 체결(모의·자동매매 ON, 화면 불필요)'
               : '수동 주문만 가능'
         }
       >
diff --git a/frontend/src/hooks/useVirtualBackendTradeSignals.ts b/frontend/src/hooks/useVirtualBackendTradeSignals.ts
deleted file mode 100644
index 410f909..0000000
--- a/frontend/src/hooks/useVirtualBackendTradeSignals.ts
+++ /dev/null
@@ -1,152 +0,0 @@
-/**
- * 가상투자 자동매매 — 백엔드 BarBuilder/LiveStrategyEvaluator 가 발행한 STOMP BUY/SELL 만 체결.
- * 프론트 근사 일치율(resolveVirtualTradeTiming) 사용 안 함.
- */
-import { useEffect, useRef } from 'react';
-import type { TickerData } from './useMarketTicker';
-import type { VirtualSessionConfig, VirtualTargetItem } from '../utils/virtualTradingStorage';
-import { loadStrategyTimeframes, placePaperOrder, type PaperSummaryDto } from '../utils/backendApi';
-import { parseStompJson } from '../utils/stompMessage';
-import { subscribeStompTopic } from '../utils/stompChartBroker';
-import { signalBelongsToCurrentSession } from '../utils/tradeSignalOwnership';
-import { resolveVirtualTargetStrategyId } from '../utils/virtualTargetStrategy';
-import { coerceFiniteNumber } from '../utils/safeFormat';
-
-const EXEC_COOLDOWN_MS = 15_000;
-
-interface Options {
-  enabled: boolean;
-  session: VirtualSessionConfig;
-  targets: VirtualTargetItem[];
-  tickers?: Map<string, TickerData>;
-  paperAutoTradeBudgetPct: number;
-  positions?: PaperSummaryDto['positions'];
-  onFilled?: () => void;
-}
-
-export function useVirtualBackendTradeSignals({
-  enabled,
-  session,
-  targets,
-  tickers,
-  paperAutoTradeBudgetPct,
-  positions = [],
-  onFilled,
-}: Options): void {
-  const inflightRef = useRef<Set<string>>(new Set());
-  const lastExecRef = useRef<Record<string, number>>({});
-  const seenSignalRef = useRef<Set<string>>(new Set());
-
-  useEffect(() => {
-    if (!enabled || !session.running) {
-      seenSignalRef.current.clear();
-      return;
-    }
-
-    const activeTargets = targets.filter(
-      t => resolveVirtualTargetStrategyId(t, session.globalStrategyId) != null,
-    );
-    if (activeTargets.length === 0) return;
-
-    const unsubs: Array<() => void> = [];
-    let cancelled = false;
-
-    void (async () => {
-      for (const target of activeTargets) {
-        if (cancelled) break;
-        const strategyId = resolveVirtualTargetStrategyId(target, session.globalStrategyId)!;
-        let timeframes: string[] = [];
-        try {
-          timeframes = await loadStrategyTimeframes(strategyId);
-        } catch {
-          timeframes = ['1m'];
-        }
-        if (timeframes.length === 0) timeframes = ['1m'];
-
-        for (const candleType of timeframes) {
-          const topic = `/sub/charts/${target.market}/${candleType}`;
-          const unsub = subscribeStompTopic(topic, msg => {
-            const data = parseStompJson<{
-              time: number;
-              close: number;
-              signal?: string;
-              candleType?: string;
-              strategyId?: number | null;
-              userId?: number | null;
-              deviceId?: string | null;
-            }>(msg);
-            if (!data?.signal || (data.signal !== 'BUY' && data.signal !== 'SELL')) return;
-            if (data.strategyId != null && data.strategyId !== strategyId) return;
-            if (!signalBelongsToCurrentSession({ userId: data.userId, deviceId: data.deviceId })) {
-              return;
-            }
-
-            const dedup = `${target.market}:${data.candleType ?? candleType}:${data.time}:${data.signal}:${strategyId}`;
-            if (seenSignalRef.current.has(dedup)) return;
-            seenSignalRef.current.add(dedup);
-            if (seenSignalRef.current.size > 5000) {
-              seenSignalRef.current.clear();
-            }
-
-            const side = data.signal as 'BUY' | 'SELL';
-            const price = coerceFiniteNumber(tickers?.get(target.market)?.tradePrice)
-              ?? coerceFiniteNumber(data.close);
-            if (price == null || price <= 0) return;
-
-            const heldQty = coerceFiniteNumber(
-              positions.find(p => p.symbol === target.market)?.quantity,
-            ) ?? 0;
-            if (session.positionMode === 'LONG_ONLY') {
-              if (side === 'BUY' && heldQty > 0) return;
-              if (side === 'SELL' && heldQty <= 0) return;
-            }
-
-            const execKey = `${target.market}:${side}`;
-            if (inflightRef.current.has(execKey)) return;
-            if (Date.now() - (lastExecRef.current[execKey] ?? 0) < EXEC_COOLDOWN_MS) return;
-
-            inflightRef.current.add(execKey);
-            void placePaperOrder({
-              market: target.market,
-              side,
-              orderKind: 'market',
-              price,
-              quantity: 0,
-              budgetPct: side === 'BUY' ? paperAutoTradeBudgetPct : 100,
-              source: 'STRATEGY',
-              strategyId,
-            })
-              .then(result => {
-                if (result?.trade) {
-                  lastExecRef.current[execKey] = Date.now();
-                  onFilled?.();
-                }
-              })
-              .catch(err => {
-                console.warn('[VirtualBackendTrade]', target.market, side, err);
-              })
-              .finally(() => {
-                inflightRef.current.delete(execKey);
-              });
-          });
-          unsubs.push(unsub);
-        }
-      }
-    })();
-
-    return () => {
-      cancelled = true;
-      unsubs.forEach(u => u());
-    };
-  }, [
-    enabled,
-    session.running,
-    session.globalStrategyId,
-    session.positionMode,
-    targets,
-    tickers,
-    paperAutoTradeBudgetPct,
-    positions,
-    onFilled,
-  ]);
-}
diff --git a/frontend/src/hooks/useVirtualTradingCore.ts b/frontend/src/hooks/useVirtualTradingCore.ts
index 6955566..4dbbafb 100644
--- a/frontend/src/hooks/useVirtualTradingCore.ts
+++ b/frontend/src/hooks/useVirtualTradingCore.ts
@@ -14,7 +14,6 @@ import {
   type StrategyDto,
 } from '../utils/backendApi';
 import { useVirtualIndicatorSnapshots } from './useVirtualIndicatorSnapshots';
-import { useVirtualBackendTradeSignals } from './useVirtualBackendTradeSignals';
 import { useVirtualTargetLiveStatus } from './useVirtualTargetLiveStatus';
 import {
   loadVirtualSession,
@@ -206,16 +205,6 @@ export function useVirtualTradingCore(options: UseVirtualTradingCoreOptions = {}
     session.running,
   );
 
-  useVirtualBackendTradeSignals({
-    enabled: paperTradingEnabled && paperAutoTradeEnabled,
-    session,
-    targets,
-    tickers,
-    paperAutoTradeBudgetPct,
-    positions: summary?.positions,
-    onFilled: () => void refreshPaperData(),
-  });
-
   const mergedLiveStatus = useMemo(() => {
     if (!session.running) return liveStatusByMarket;
     const merged = { ...liveStatusByMarket };
diff --git a/frontend/src/utils/virtualLiveStrategySync.ts b/frontend/src/utils/virtualLiveStrategySync.ts
index 4e9ada9..f77fd44 100644
--- a/frontend/src/utils/virtualLiveStrategySync.ts
+++ b/frontend/src/utils/virtualLiveStrategySync.ts
@@ -3,7 +3,10 @@ import { pinStrategyEvaluationTimeframes } from './strategyTimeframePin';
 import type { VirtualSessionConfig, VirtualTargetItem } from './virtualTradingStorage';
 import { resolveVirtualTargetStrategyId } from './virtualTargetStrategy';
 
-/** 가상투자 대상 종목을 백엔드 live strategy 설정과 동기화 */
+/**
+ * 가상투자 대상 → 백엔드 live strategy·모의 한도 동기화.
+ * 전략 평가·모의 자동 체결은 BarClose/LiveStrategyScheduler → OrderExecutionQueue 에서만 수행.
+ */
 export async function syncVirtualTargetsToBackend(
   targets: VirtualTargetItem[],
   session: VirtualSessionConfig,