Top 5 stock trading games: Forget Candy Crush - here's how to make a million on your smartphone
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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 just your self-esteem. Best brokers game review, 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 Best brokers game review 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 site 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 best brokers game review help getting started can also choose to adapt one of best brokers game review preset portfolios created by proven traders.
Prizes vary, but most best brokers game review consist of competitive pride. Owned by the same company as Wall Street 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 best brokers game review 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. Best brokers game review 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 to 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 best brokers game review 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 playing, this game is especially manageable for beginners due to the limited stock options 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 best brokers game review 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 your 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 for a total of four weeks, awarding the winner of each week with an iPad. More Business Resources from Mashable: