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Stock simulators help market newbies of all ages learn trading techniques and strategies. This practice can help investors reduce risk and be more successful.
While paper trading was popular years ago, these days virtual trading dominates this niche world of educational gaming.
We looked into stock simulators and picked out five of our favorites.
Stock Simulators: 5 Top Picks Anyone Can Play
This popular stock simulator is great for beginners and savvy investors alike. Wall Street Survivor allows users to manage a fantasy stock portfolio while competing against friends and strangers - all risk-free. This simulator takes the complicated financial jargon out of the equation so users can gain an understanding of stock trading more easily.
Users can invest virtual cash via drop-down menu choices. A cartoon stock guru helps users make final decisions by providing some rating numbers when inputting a stock. Additional tools are available to help choose stocks, with a resource library that covers beginner, intermediate, and advanced levels. The $100,000 competition is most popular, but anyone on the website can create a contest of their liking.
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This free online stock market game performs like a real brokerage account. It allows users to practice buying and selling real stocks at real-time prices. Once registered, users receive a brokerage account with $25,000 in virtual cash to use to trade stocks, exchange-traded funds, and mutual funds right away. Other contests may also be created to play with friends or other users of the simulator.
Another nice perk of the site is that with the practice account come hundreds of educational articles and glossaries to help further educate stock trading hopefuls.