A stock market simulator is a simple piece of software that helps newbies learn how to trade stocks. The tool makes it possible to work out an effective strategy without losing the capital. With a free stock trading simulator, you can try out various assets and decide on the one you are going to use as the main trading instrument. The fact that some of these applications are free makes them a great choice for amateurs trying to figure out how the stock market works.
In this article, we will learn how an online stock trading simulator can be useful as well as review some of the best choices available in the market.
First of all, let’s figure out why beginner market participants should use a stock trading simulator. First of all, it can serve you as a free practical tool to master a specific trading technique. Secondly, it gives an excellent chance to try out and explore various approaches. Last but not least, with an online stock trading simulator, you have an opportunity to learn essential market basics.
In particular, users can learn how to go short or long, define trading costs, perform stock market overview and analysis, etc. Simulators rely on different financial ratios during the operation. They include debt/equity ratio, price/earnings ratio, and more.
As a result, using a free stock trading simulator, you can benefit from the following:
Some online simulators are developed to form a community of users letting them take part in regular contests. It is a great chance to practice your skills and test a specific trading strategy in comparison to other techniques.
An online stock trading simulator can be of different types. You can choose the one depending on your requirements. Each tool comes with a specific set of features and trading options. Some are developed to provide only basic investment functionality while others come as a more complicated solution with advanced instruments to perform forex or option trading.
Some simulators are available as only guidelines or tutorials. Other apps are supported by bigger companies that sponsor contests and tournaments for their users. We recommend starting with a simple simulator and going to a more complicated one as soon as your performance level grows.
Now, we can have a look at some popular stock trading simulators that have already gained a reputation as the most time-tested and reliable tools to master stock trading skills.
This stock trading simulator is one of the longest-running options available in the market. Here, users can widen their financial knowledge and practice investment skills. Besides, users who successfully pass the education process will get a graduate degree.
Apart from the ability to trade your way using virtual cash, this simulator also brings a bunch of video tutorials, articles, and other useful information you will find nowhere else. Users will find a selection of eBooks and other useful materials.
The simulator is also a veteran in the niche. It has been in the game for a while. It is actually a real-time investment game. Additionally, it offers access to a custom knowledge base with a variety of educational materials and information that will help you understand the stock market basics.
With this tool, you can practice different trading approaches such as global stock trading, ETFs, commodity futures, options, and even mutual funds. Additionally, users will be able to review price charts, indicators, and other crucial instruments.
A stock trading simulator is a perfect educational tool for beginners and pros. Amateurs can learn some stock market basics and try out different strategies. Experienced investors can sharpen their techniques as well as take part in sponsored contests and widen their knowledge with the access to tons of practical and theoretical materials.
This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.
