Do you want to learn how to play the markets? Well how about playing a real game, but making fake investments first. In this way you can learn about the dos and don’ts while not actually risking any of your money. Once you get the hang of things then you can move on to investing on your own.
Just remember this important Caveat: You will always be better off letting the professionals do this kind of work for you. Its nice to look up your symptoms online to try and get a better understanding on an illness, but you surely would let a doctor make the final diagnoses.
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This is a part of a series of advice article from JBN. See also Top 5 George Soros Investment Tips, Top 5 Websites for Investment Advice and How Do They Price Stock in an IPO.
(Disclaimer: Jewish Business News is not making any formal endorsements here or giving any promises that these games will help you.)
This one is free. Also known as a stock simulator, paper trading, and fantasy stock trading, HowTheMarketWorks says that it performs like a real brokerage. But you only use virtual money so you don’t have to worry about losing your shirt. Think of it as a grownup version of Monopoly. But here you can practice trading trading in real stocks, ETFs, and mutual funds using real market prices. The idea here is to get the practice you need before you start to play the markets in real life!
You can also learn about beginning investing with its Investing 101 Online Course and the stock market on Wikipedia.
The game promises to offer its users free real-time stock quotes for most U.S. stocks.
This one is also a simulator which lets you make all of your mistakes without actually risking any money. So how does it work?
The Stock Market Game (SMG) promises to give users a fundamental understanding of investing and how they might get your money to work for them. It also says that the game will help you do better in school. When you participate in The Stock Market Game, you are “in a real-world situation where you practice the content and skills you’re taught in math, English Language Arts, economics, social studies, and other school subjects. Most importantly, The Stock Market Game will help you develop positive money habits and prepare you for your future.”
The game offers versions for both students of the markets and for the teachers of business to use with their classes.
This app offers a real time stock exchange game which it says focuses on fun. It offers to enhance your knowledge of the stock market or let you test new trading strategies without any risk of losing real money. People can also connect with other users and friends and exchange insider information.
Best Brokers boasts that it is the only stock exchange game with over 50,000 real time stocks, updating every minute.
“In our simulation you cannot only trade real time stocks, but now we also allow you to trade digital currencies like Bitcoin, Litecoin, Peercoin and even Dogecoin!”
This website offers a number of different games to play, leagues to play in and it even offers cash prizes. There are also a variety of starter’s guides.
Wall Street Survivor offers several personal finance courses designed to teach the basics of how to build a household budget as well as how to develop comprehensive goal setting techniques to ensure stability and success in one’s financial life.
So here the idea is that you can learn about investments first from their free guides and then practice what you have learned by playing their games.
Stock Exchange Game
This free app requires no formal registration to play. It promises to immerse you in the real trading game. The Stock Game states that it is the only virtual trading game in the world which is based on thousands of actual world events. “Analyze the financial news and its impact on quotes. It’s real entrepreneur game.”
