Virtual trading simulators are good online tools to gain some trading experience without risking your real money. Here we will discuss about some good virtual trading simulators.
Often beginner traders who start trading in the stock market put their hard earn money in the market without any previous exposure to it. There is a very high chance these traders will lose their money due to lack of experience.
But do you know you can gain some initial stock trading experience even without risking your real money? Yes, we can do it on virtual trading simulator websites.
Several virtual trading simulator websites in India provide investors with a chance to trade in real market conditions using virtual money. These are the platforms that provide beginner investors with a chance to trade without risking their real money. Using these stock market simulation platforms investors can learn to safeguard them against the unforgiving nature of the real stock market.
In this article, we will talk about some good virtual trading websites in India that anyone can use to learn and grow their stock trading knowledge.
We will also see the features of each of these stock market simulators. And try to give you a good insight into each one of them, so that you can choose the best virtual trading simulator as per your needs.
How Virtual Stock Trading Websites Work
Virtual trading websites are the simulation of the real stock market. These platforms use the slightly delayed feed or real-time feed of the stock exchange so that you can trade and apply all the trading strategies the same as in a real stock market. The main difference between real stock trade and stock market simulation games is, in a simulator you use virtual cash to trade, instead of real cash.
How to Get Started With Virtual Trading
On the virtual stock trading simulation platform, you need to create an account first using your email and password. On signup, you will get virtual cash in your virtual trading account (most platforms provide 10 Lakh or 1 Crore virtual cash). Using this virtual money you can start trading on the platform.
Some of The Best Virtual Trading Simulator Websites for Indian Investors
1. MoneyBhai Virtual Trading Game
This is a virtual trading platform owned by popular Indian market news website MoneyControl.
MoneyBhai is one of the best virtual trading websites for the Indian market. It provides a real-time trading experience to traders.
On registering in MoneyBhai you will get virtual cash of Rs 1 crore. Which you can use for trading in various options like stocks, mutual funds, bonds and fixed deposits.
On MoneyBhai you can also discuss trades with other traders using their forum. This simulation platform also runs a competition league which you can join to compete with other traders.
This website charges a virtual brokerage on your trades. Brokerage charged will differ according to the type of trade executed. The brokerage charged here provides a more real-life scenario of trading. Because brokerage is the major thing that affects your overall return in real market.
If you make any mistake and want to reset your account there is an option in MoneyBhai to reset your account to the original capital of 1 crore.
2. DSIJ Stock Market Challenge
DSIJ Stock Market Challenge is another real-time trading simulation platform for the Indian market. This platform is developed jointly by Dalal Street Investment Journal and BSE (Bombay Stock Exchange).
On registering at the DSIJ simulator website you will get a virtual amount of 1,000,000 which you can use to create your best performing portfolio.
You can also discuss strategies with other traders in their discussion group.
DSIJ virtual trading simulation platform is available for individual traders, corporate and institutions as per their needs.
Traders can also participate in DSIJ trading competitions to earn rewards as DSIJ points which can be used to purchase products on the DSIJ website.
Being a real-time trading simulator this platform provides traders with a more realistic experience. Using the DSIJ simulator investors can acquire the market experience they need to successfully trade in the real stock market.
3. Moneypot.in Market Game Simulation
Moneypot is another trading simulation game platform for the Indian market. It has solutions for individual investors, corporate and academic institutions.
On signing up at their simulation game you will get 2,000,000 initial virtual money which can be used to trade in stock at their simulation game.
They have also a community of traders where you can discuss your trading ideas and strategies with other like-minded investors. They also have a MoneyWall where you can share your investment calls if you are confident in those calls.
Moneypot also provides a ranking system that gives a summary of players’ performance in each game.
There is a limit for the amount you can trade in each game in a single day. Usually, this amount is set to Rs. 1 Crore each day.
The feeds in this virtual simulator game are slightly delayed feed. And the share prices are based on BSE.
Chartmantra is a virtual trading stock market simulation game developed by famous Indian business outlet EconomicTimes. It comes with the main objective of teaching traders technical analysis and how to apply it in real-life stock exchanges.
The stocks used by Chartmantra are real but the price data is historical. The timeframe of this historical data is kept secret from the user until they finish playing the simulator game or move on to a new game with new stock.
On signing up you will get Rs. 1,00,000 virtual cash to trade in the virtual game. If you lose all your virtual cash it will be reset automatically to its original amount of Rs. 1,00,000.
5. Trakinvest Simulator
Trakinvest is another good virtual trading simulation platform that is based in Singapore. Trakinvest has only paid plans, their basic plan start with $1 monthly. It provides investors curated market data and news from 10 exchanges. It is a beginner-friendly platform that provides beginner traders with beginner guides and videos to understand different trading concepts easily.
The Trakinvest platform is developed for beginner to pro investors alike.
This simulator provides traders with good technical analytics tools which can be used to make an impactful investment decision.
They provide detailed portfolio and performance trackers, technical analysis charts, price metrics and key ratios, stock score meters etc. Investors can boost their knowledge and experience by following the global Trakinvest community.
For pro investors, Trakinvest provides access to real market data from multiple global exchanges to trade. Traders can also compete in simulation trading games to earn great prizes. You can also get job opportunities if you show some real potential.
Trakinvest also provides Android and iOS app for better accessibility. That is you can trade and manage your portfolio at any time.
Some Bonus Simulator Platforms (These Are Not Based on The Indian Stock Market)
6. Wall Street Survivor Simulator
If you are interested in trading at international stock exchanges WallStreetSurvivor stock simulation game could be a good option for you. Wall street survivor also provide free courses for beginner investors to learn trading concepts.
On registering at their simulator platform you will get $100,000 virtual cash which you can use to make your portfolio. You can also join their monthly competition to win cash prizes.
This virtual stock market simulation game is one of the best trading simulators available on the internet. Besides learning to trade you can also connect with thousands of other traders with diverse backgrounds and experiences. Which provides you with a chance to learn strategies behind their trades.
7. Investopedia Stock Market Game
Investopedia’s stock market game is a good choice for investors who want to trade the stocks listed on US stock exchanges. Stocks listed for trade on the Investopedia simulator are those that are available on the New York Stock Exchange (NYSE), Nasdaq and the American Stock Exchange(AMEX).
This stock market game gives users $100,000 pretend money to choose best performing portfolio. Their stock simulator is well integrated with their educational content. This way you can learn trading skills before risking your real money.
You can also connect with other traders on their platform to benefit from others’ experiences. The Investopedia virtual stock simulation tries to match real-life circumstances and actual performance as much as possible.