Financial trading is not a game. It is a serious business with high stakes and high rewards. However, there are many games you can play to hone your investing skills. These games do not pose any financial risk, so they are ideal for everyone.
What is a Trading Game?
For those unfamiliar with the term, a trading hame is an online simulation in which players make trading decisions in real-time using virtual money. Some trading games allow players to make customer trading rules and participate in competitions. Almost all trading brokers offer trading games, so there are many options.
The trading games cut across all financial markets, such as stock market trading, binary options, and forex trading. The purpose of these games is to give you enough training experience that will help you make better investing decisions in the real world.
Other benefits of using trading games to hone your investing skills include the following:
● Learning the basics of training, such as setting up trades
● Learning how to diversify your investment portfolio
● Experiencing the rewards or loss of our trading strategy without losing real money.
Who Are Trading Games For?
Trading games are for anyone looking to get real-life trading experience without losing funds. They are mostly advertised to beginners and casual traders. However, even veteran traders can use trading games to get trading experience on trading instruments they consider adding to their portfolios.
Trading games are generally free and can be funded with as high as $100,000 (virtual cash). Some trading brokers offer limited duration for trading games, while others offer lifetime access to these trading games provided you comply with their terms.
Now that you’ve learned the basics about trading games, it is time for you to start playing. We listed six of the best trading games you can try right now to get you on the right path. These games allow you to trade stocks and forex; some even allow crypto trading.
Let’s take a look.
1. IQCent Demo Trading
Thanks to their powerful, free, user-friendly trading game, you can become a pro trader with IQcent. This demo trading account with up to $10,000 is available to all customers. With this demo account, you can trade all the tradable instruments available on the IQcent trading platform without risking a dime. When you lose, you only lose the virtual funds in your account.
On the other hand, your profitable trades will not add any real value to your trading account.
The demo account is perfect for beginner traders who want to practice everything they have learnt before investing their funds. It is also great for experienced investors who want real-life scenarios and experience with assets they are considering trading.
2. Investopedia Stock Market Simulation
Investopedia is popular as a resource source on trading, investment, and finance matters. The company also offers a free stock market simulation app funded with $100,000 in virtual cash. It is a great choice for beginners and investors who want to test the stock trading market without risking their own money.
The drawback of the Investopedia trading game when compared to the IQCent trading account is the trading lag. There is a 15-minute lag, so you won’t be playing with live prices. However, the platform is still great for learning the basics of investing in addition to resources offered by top-tier brokers such as IQCent.
3. TradingView Trading Game
TradingView offers a paid comprehensive platform that you can use to trade forex, crypt, indices, stocks futures, and bonds. The trading game comes with a balance of $100,000, which is sufficient to try different reading strategies. They also offer a detailed dashboard and plenty of educational resources.
However, TradingView is mostly suited to experienced investors and professional traders. You may also have to pay a monthly fee after the first month.
4. Wall Street Survivor
The Wall Street Survivor online platform offers simplified yet valuable financial education. These learning resources are jargon-free. The platform also offers a free virtual stock market game that you can use to put the things you learn to practice.
It is an excellent choice for both beginner and professional traders. It is also free to use for all users.
5. MarketWatch Virtual Stock Exchange
MarketWatch’s Virtual Stock Exchange app offers a fantastic trading game with real-time pricing. This feature is impressive considering that many trading games, such as Investopedia stock market simulator, show a 10 to 15-minute delay in price. The platform also allows you to create a gaming environment where you can compete against friends.
Experienced investors can use other features like valuable learning resources and trading tools on the platform. The platform also offers financial analyst ratings and estimates, price charts, and more.
6. HowTheMarketWorks
HowTheMarketWorks is an online product that helps people understand how the stock market works. It started as a blog on the stock market and included a glossary. It now increases a free trading game that students, brokers, and investors can use to trade stocks and other assets with real-time pricing.
The platform also includes an Education Center that provides investing tips on introductory, intermediate, and advanced levels.
It is excellent for everyone, regardless of whether they are going into trading full-time or as a hobby.
Conclusion
Trading games are similar to real-life investing and trading, except you use virtual money, and the trading happens in simulated environments.
