One thing I’ve always wanted to learn how to participate in was stock market investing. I think a lot of people that don’t invest in stocks choose not to do it because they don’t know how it works, and not knowing how it works makes it incredibly risky. After all, the best way to get good at something is to practice, but you can’t exactly practice the stock market. Or can you?
In this article, I’ll show you 3 websites that allow you to practice investing in the stock market with virtual money. You can consider them games if you want to, but there aren’t many games out there that can help you make actual money.
We Seed
We Seed (directory app) is one of the best stock market game sites I’ve come across and is what eventually led to the idea of this article. We Seed is free to sign up for and it allows you to invest without any risk.
The idea behind We Seed is that the cash you are given is fake, the trades are virtual, but the stock exchange conditions are real. You can build your portfolio and practice investing strategies without having to worry about losing all your money. You can start over at any time and see what works best.
To make it easier, all the companies are broken down into groups, industries and interests. Examples of this would include cooking, sports, tech and entertainment, so you can invest in companies you’ve actually heard about or see a categorized view of the ones you haven’t.
There are also lots of learning resources on We Seed if you’re looking to learn the game quickly.
Wall Street Survivor
Wall Street Survivor is another great fantasy stock market game. It provides a realistic learning platform using paper trading to manage your portfolio. Like We Seed, signup is easy and you can dive right into managing your virtual portfolio.
The Trades Stock page is where you will be making your trades from. Simply enter the stock symbol, the quantity, action and order type. Click Preview and you’ve made your trade. From the My Portfolio page you can track all of your open positions. To get rid of one of your positions, simply click the Sell button in the Action column.
Wall Street Survivor also has a trading center where you can learn stock and options strategies, and tips for beginners, intermediate and advanced users. It also has forums and daily news, and did I mention they have prizes for the best players?
Market Watch
Market Watch, owners of the Virtual Stock Exchange website, may not be as flashy as the other two sites I’ve covered, but it is equally effective.
On their Dow 30-Day Trader game, you are given a virtual $10,000 to day-trade stocks with based on the 30 companies that comprise Dow Jones Industrial Average. You can make trades as often as you like during regular US market hours and each trade will cost a virtual $10.
This stock market game is different from the others in that it exists to show off your skills. There is a leaderboard of the best traders and the winner will be featured in a Market Watch story about his or her day-trading skills. The game runs through December 30th and you can join at any time.
If you want to learn about investing or jump into one of their other games, just head over to the VSE site.
Conclusion
There you have it. With these informative websites you will be well on your way to dominating Wall Street. It can be really fun once you get the hang of it and you start building a mass amount of wealth. Take that knowledge and apply it to your real-life bank account and imagine how much more fun you’ll have!
If you want to play on your phone, you might like Market Millionaire. Also, if you’re not into the whole stock market game thing, or you simply want additional resources, definitely check out Taty’s article on 5 Websites Where You Can Learn To Invest Money.
What do you think of the resources I’ve provided? Are you interesting in learning the stock market?
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This is a great post and really offers some hands on options to those who may be gun shy of trading.
ReplyDeleteI like it!
Lisa