There have been a lot of people showering praises of the ubiquitous gains from the stock market, and investing in general. Successful traders and financial gurus claim that they’ve earned thousands or even millions of dollars through trading and playing the market.
Let’s not forget the stock market can be quite intimidating, especially for the beginner investors. One wrong move can lead you to incur huge losses, but fret not, there are online trading games that can provide a simulation of the stock market without you having to risk real money.
The Benefits of Online Trading Games
Trading games are a great way for the aspiring trader to get their feet wet. Through these competitive trading simulators, you can gain the opportunity to earn prize and cash payouts through a risk free simulation that takes place over the course of several weeks.
There really is no substitute for experiential learning, and with these online games, you get to practice online trading without the risk of losing your own money. Even some notable high schools and universities are using these platforms to teach their students about financial literacy and investments. These games also allow aspiring investors to receive the opportunity to understand how markets work in real time, thus preparing them for possible scenarios in the real-life stock market.
The Top Trading Games Available Online
While it’s nearly impossible to endorse the best stock market game online – as it really boils down to your own personal preferences, I’ve listed some of the top rated trading games available online today.
UpDown provides you with one million virtual dollars to invest in the market – with the goal of trying to improve your ranking among its worldwide members. Under “Stocks,” you’ll find the hottest bets being currently being bought and sold in it’s own virtual market, as well as tips from community members. UpDown also provides features which enable you to collaborate with a group, and if you find yourself lost, UpDown’s Investment Education Center lists a lengthy glossary of finance lingo. All vert helpful tools for beginners in the trading game.
Update: As of 8/01/2017, UpDown publicly announced that they have wrapped up their business.
One of the biggest trading games online, Virtual Stock Exchange has a wide array of stock markets available: Australia, Mexico, China, United Kingdom, Canada, USA, Europe, you name it! Virtual Stock Exchange is often used by professors and lecturers teaching international finance students how to manage with the fluctuating prices in the foreign currency exchange. So if you’re looking to learn more about Forex trading, go ahead and sign up for Virtual Stock Exchange.
One of the simplest trading games to learn and use, How The Market Works is perfect for newbies looking to learn about the very basics of the stock market. The game has two modes: “fun,” where you have no limit on the number of trades you can make per day, order expiration, and set hours, among others. Each portfolio on How The Market Works can have a starting value from $100 to $500,000. The website also provides users with FAQs and other helpful resources for entry level traders.
Owned by the same company that manages How The Market Works, Wall Street Survivor has one of the most extensive communities that ultimately may help you learn how to invest "properly" in the stock market. The site also has an impressive array of resources for those who want to know more about trading: from videos, online courses, and community discussion boards, among others. If your'e ready for it you can also win real cash by joining live contests on the site.
MarketWatch provides its users with real-time market information for an authentic trading experience. Famous for their competitions, the best traders who emerge from their collectively held contests are featured on MarketWatch. Don’t be intimidated if you’re a beginner though, you can still trade on your own using virtual currency on MarketWatch. An advantage of MarketWatch over the other trading games online is its news updates that feature all the latest happenings in the financial industry.
The five previous games I mentioned outrank Investopedia in my own humble opinion, but Investopedia still deserves an honorable mention. Their website is an incredibly vast and highly accessible online library of helpful resources, providing you with many potential situations and solutions you could encounter while trading. Investopedia is the go-to website for learning both basic and advance strategies in the investment game. Bookmark it.
Go, play, and learn!
As I’ve said, there’s really no one best stock market game online – it really depends on your level, experience, and personal preferences. Give these online trading games a try, and let us know which is your favorite!