Best mock trading account
The power of hands-on learning is indisputable. But when it comes to investing your money in the stock market, however, making a beginner's mistake can cost you more than best mock trading account your self-esteem. Thankfully, the web makes it easy to practice with virtual money. There are a multitude of online investment games like Investopedia and gnuTrade that play with virtual money, but not all of them are easy for beginners.
Here are five of the best free because you shouldn't have to spend real money to play with fake money online games for getting your feet wet. A friendly cartoon version of stock guru Mark Brookshire helps you make your final decision by providing some rating numbers when you input a stock.
These include a rating for survivor sentiment, fundamentals, technical and a Motley Fool Rating. For additional help choosing stocks, the best mock trading account has an impressive resource library that spans beginner, intermediate and advanced levels.
Start with Investing and consider taking advantage of the community forums if you have specific questions. Those who need a little help getting started can best mock trading account choose to adapt one of the preset portfolios created by proven traders. Prizes vary, but most often consist of competitive pride. Owned by the same company as Wall Best mock trading account Survivorthis game is great for investors looking to gain experience with a new type of portfolio.
In addition to stocks and indexes, there are options to experiment with Forex portfolios, penny stocks, mutual funds and short selling. Beginners can execute market order-based trades in a "fun mode" without worrying about things like set hours, maximum number of trades per day, per stock and order expiration.
A "realistic mode" amps up the complexity after they've mastered the beginner level. Players can manage up to three stock portfolios and three Forex portfolios on the site at once. The competition aspect is optional. Other public contests include challenging restrictions like "short sells only" or "penny stocks only. Young Money Magazine's stock exchange game is easy to learn but also fairly realistic, which is a hard balance to strike.
Realistic aspects include a virtual commission that's taken out of each trade, adhering to market hours and rules about how you can invest. Unlike many investing games, trades are made at a real-time price.
Learning aspects include convenient help icons on key terms and an intuitive tabbed interface. Players can also create their own contests or join other user-made contests. MarketWatch will run this mock stock market contest for a total of four weeks, awarding the winner of each week with an iPad.
It's on week three right now, but there's still time best mock trading account get in on the competition for week four. You must have your selections picked before the week starts on Monday. The shares that you select are "purchased" at Monday's open and will "sell" automatically at Friday's close.
The catch is that all players can only use the 15 to 20 symbols selected for each week. The companies are selected by the game owner for companies that are projecting their earnings during each week.
Lining up picks is easy — players simply drag the company's logo to their trading card and designate if they want to sell short or go long.
Although there are some pros best mock trading account, this game is especially manageable for beginners due best mock trading account the limited stock best mock trading account for each week. Like Young Money's game, UpDown has helpful icons that explain key terms for beginners. More comprehensive resources in the education center mercifully cover even the most basic of investing concepts. Community features, like the opportunity to collaborate with a group and to see the most-bought and most-sold stocks, are also helpful for beginners.
The "watch list" tool provides a convenient dashboard for monitoring potential picks. UpDown sponsors a monthly contest that rewards players who beat the market with real cash. Image courtesy of iStockphotoH-Gall. We're using cookies to improve best mock trading account experience. Click Here to find out more. Entertainment Like Follow Follow. HowTheMarketWorks Owned by the same company as Wall Street Survivorthis game is great for investors looking to gain experience with a new type of portfolio.
Young Money Stock Market Game Young Money Magazine's stock exchange game is easy to learn but also fairly realistic, which is a hard balance to strike. MarketWatch Fantasy Earnings Trader Game MarketWatch will run this mock stock market contest best mock trading account a total of four weeks, awarding the winner of each week with an iPad.
More Business Resources from Mashable:
Use these financial tools to stay informed—and ready to move—at all times. Track best mock trading account performance of any stock or index. For more in-depth analysis, flip your phone sideways and sift through vast amounts of data on any company you choose.
Smart investing means staying in the best mock trading account. Read breaking news in this app, and create custom stock watch lists to track and analyze personal holdings. Like other apps, this one lets you track, buy, and sell. Unlike other apps, you can use it to scan a barcode and look up the public company behind the product. Easy-to-use interface for executing trades quickly. Use voice search to find specific stocks or company data. Move money into and out of your bank account inside the app.
Test out new strategies before implementing them in the real world, and do it best mock trading account real-time best mock trading account. Compete with friends to see who's the biggest wolf. Wall Street is intimidating, particularly for newbies. Hone your skills by building and tracking your virtual portfolio in this stock market simulator. Heat maps are better. StockTouch uses color-coded maps of the top stocks in the major sectors to help you understand the ups and downs of the market.
It's Twitter for traders. Get minute-by-minute insights from fellow investors. A Sentiment Indicator shows members' bullish- or bearishness on any specific asset. Sponsored Stories Powered By Outbrain. Nitasha Tiku Nitasha Tiku. Jessica Rich Jessica Rich. Brian Barrett Brian Barrett. Issie Lapowsky Issie Lapowsky.