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 always a very high probability 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, you can do it on virtual trading simulator websites.
Several virtual trading simulator websites in India provide investors an option to trade in real market conditions using virtual money. These are the platforms that provide beginner investors a chance to trade without risking their real cash. From these stock market simulation platforms investors can learn to safeguard them against the unforgiving nature of the real 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. Virtual Simulated Trading by TradingView
TradingView is a very advanced analytics platform for traders and investors. It provides a wide variety of securities trading and research tools to trade in almost all major markets globally.
The website also provides a simulated trading platform which they call paper trading. Traders who want to improve their skills with a virtual simulated stock market game can use a wide range of charts and tools available on their platform to practice trading in real market conditions.
To gain risk-free real market experience users can signup for free on the platform and use their virtual stock simulator. On signup, users get $100,000 virtual cash which can be used to trade on their virtual market simulator. The user can reset his account at any time, on reset all order and balance history is restored to the default values as it was in the beginning.
This website is very helpful for traders who want to learn how to use advanced technical indicators and candlestick charts as they have many advanced tools for this purpose. On this website you can also get historical data of various companies which can be useful for analysis purposes.
They have a good app for Android, iOS and desktop devices.
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. Neostox Virtual Trading Simulator
Neostox is a simple, interactive and intellignet platform where you can trade equities, futures, options, and MCX Derivatives in real time with virtual money. They have a well crafted platform with loads of features to assist your learning.
Their basic plan is free but they have paid plans too that enables many more features. Their stock trading platform is based on NSE (Nationl Stock Exchange) that can boost your experience with real stock market.
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.