Investing in the stock market can be an excellent way to increase your personal wealth, but navigating it can be daunting for the uninitiated. That’s why stock market simulators are such a great idea. These “fantasy stock market” games allow you to get a feel for the way the market works without any financial risk. Use stock market programs like these to prep for investing in the real thing.
Wall Street Survivor: Win Real Money on a Free Simulator
Image via Flickr by 401(K) 2013
Wall Street Survivor claims to have “the web’s best stock market simulator.” Open a free account and start using virtual money to invest in real companies, under real market conditions. Trades take place in real-time for an authentic stock market experience. You can compete for real money and other prizes in one of Wall Street Survivor’s own leagues, or create your own to challenge your friends. Virtual badges and cash reward your achievements. The site’s stock market simulator is complemented by an investment and personal finance library, premium finance courses, and quizzes for testing your knowledge.
HowtheMarketWorks: Educational Stock Market Simulator
HowtheMarketWorks has been used in around 10,000 middle and high school finance classes every year, which is a testimony to its user-friendly interface and great functionality. You needn’t be in school to appreciate it, though. This free, real-time simulator lets you play with U.S. stocks, mutual funds, and exchange-traded funds. HowtheMarketWorks runs its own monthly contests, but you can also create your own if you’d prefer to play only with people you know, or play as an individual without the competitive aspect. Educational tools like glossaries, videos, and calculators are as useful for adults wanting to learn more about the finance world as for students.
The Game of Stocks: Stylish Trading Up
Whether you’re interested in the share market in the United States or abroad, load The Game of Stocks app onto your Android device. The app works with real stock companies and real price quotes which change in real-time, with support for many currencies and stock markets around the globe.
The creators admit that stock prices may be delayed by your data provider, so the app runs best on a modern device with a high-speed connection, like T-Mobile’s Galaxy S6. This will help you get the most from its colorful graphic interface. The Game of Stocks requires some share market knowledge, like awareness of market, limit, and stop order types, but once you understand the basics you should find it easy to operate. Support of penny stocks is a lovely perk for people who don’t plan to invest big in the real world.
Stock Trainer: Virtual Trading
Stock Trainer: Virtual Trading is another Android app that facilitates trading on the go. It works with real market data which changes in real-time, so using it is the closest thing to playing the market without coughing up your own real cash. The app aims to appeal to newcomers to the market as well as experienced traders, who often use it to see whether a new investment strategy would pay off. It’s also entirely free, without ads or in-app purchases, so you can play without worrying about eating into your bank balance.
Stock Trainer: Virtual Trading was in the beta stage at the time of writing, but it had already earned an impressive 4.3-star rating on Google Play, better than many more established stock market simulator apps. Expect more improvements to the app, including stop/limit trading, in the coming months.
Wall Street Magnate: Online Community and App
Wall Street Magnate has attracted the attention of leading media outlets like Fox News, NPR, and TechCrunch for its realistic and fun design. It draws real data from the NYSE, NASDAQ, and AMEX to give you a realistic experience of playing your U.S. stock exchange of choice. Instant messaging and social club play help you feel like part of the Wall Street Magnate community. With a website and companion Android and iPhone apps, you can check in with this free stock market simulator whether you’re at home, in the office, or out and about.
Start using these stock market simulators to gain confidence before investing in the real thing.
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