Virtual stock exchange games play a big part in practicing for the real thing, they have become increasingly popular in the last 5 years. It is important to use only the best virtual stock exchange in order to get the most realistic experience. Traditionally, before the digital era, stock investors and traders would use a technique called paper trading, this is essentially the same thing as using a virtual stock exchange, without all the fancy extras. For paper trading all you would really do is keep track of your buys and sells, and see if you would have made a profit in the real market. Virtual stock exchanges do the same thing but also add a sense of realism and more features to gauge your buying and selling decisions (whether this is good or not, I’m still not sure).
How To Find The Best Virtual Stock Exchange
Before I give you some examples of some of the best virtual stock exchange platforms, lets go over what makes a very good virtual trading game. One of the main things that makes these virtual stock market platforms so good is the ability to trade in real-time, so make sure the one you chose does this! Another great feature you should look out for is the ability to talk strategy with other traders in your game, you can learn a lot this way and I highly recommend it.
You also want to be able to see the charts of the stocks that your virtually trading on, to make your experience that much more realistic. Some of these virtual stock exchange games will start you off with as much as 1 million in virtual money. To make it even more realistic and challenging, I recommend you only trade with an amount that you would actually be trading in real life. This way if you lose half your money, or triple your money, you know that you could have done that in the real-world.
Some of the best virtual stock exchange platforms are completely free, and are usually just as good as their paid counterparts. Generally, if you pay for a virtual stock exchange game its going to come with a load of extra perks, sometimes even real live teachers who can guide you along and tell you what your doing right, and correct you on the things your doing wrong. Its really up to you to decide weather you want the bare bones of a simple virtual stock exchange, or if you think you need all the extras. You might want to think about going the paid route if your brand new to the stock trading game.
Here Is a List Of Some of The Best Virtual Stock Exchanges
This is my personal favourites list, its a mix of free and paid platforms. Have a look through them and see what suits you the best.
- The Wall Street Survivor
- How The Market Works
- TD Bank Virtual Stock Market
- Smart Stocks
- Virtual Stock Exchange
- Investopedia Stock Simulator
- Stock Trak Stock Market Game
Why Use A Virtual Stock Exchange?
You may be tempted to just dive into the real stock market and start making money, but its not that simple nor easy. It is highly recommended to start stock investing and trading on a simulated platform such as a virtual stock exchange, even by long time pros such as Benjamin Graham and Warren Buffet (stated in their book, The Intelligent Investor). You may take a huge loss on one of the best virtual stock exchanges and learn from it, you may never make the same mistake again. If you were to take a huge loss in the real market, you may never want to invest again.
It is a very wise choice to play around with one of these virtual stock trading games, even if it’s just for a short while. Make sure to choose the best one, and happy trading! If your in need of any further help, feel free to connect with me on Twitter, Facebook or Google+!