Nowadays, most of transformers working in fault simulation platform operate at rated voltage. In addition, research on the platform mostly focuses on partial discharge fault. In order to be closer to the real operating conditions of the transformer, more comprehensive research should be done on the reproduction of the rated operating conditions of the transformer and the simulation of transformer faults, such as winding deformation and overheating faults. The mutual load method is used to build a platform in which the transformer operates at rated voltage and current. On this basis, four typical transformer fault simulation schemes are designed. Faults set in the platform include a variety of typical faults, such as partial discharge, winding deformation, multi-point grounding of the iron core, etc. Construction of the platform may promote the research of transformer fault simulation and corresponding defect detection.