Top 5 Advantages of Virtual Stock Market App
A stock market simulator is a program that tries to form a replica of some or all the features of a live stock market on a computer so that a player can practice trading stocks without any financial risk. Paper trading which is also called virtual stock trading is a simulated trading process in which investors can practice investing without committing real money.
This is done by the manipulation of virtual money and investment positions that behave in a manner similar to the real markets. New investors can practice making (or losing) fortunes time and time again before actually committing financially. Investors also use paper trading to test new and different investment strategies. Stock market games are often used for educational purposes.
Stock market games are speculative games that allows players to trade stocks, futures, or currency in a virtual or simulated market environment. Stock market games exist in several forms but the basic underlying concept is that these games allow players to gain experience or just entertainment by trading stocks in a virtual world where there is no real risk. Some stock market games do not involve real money in any way.
Players compete with each other to see who can predict the direction the stock markets. Many stock market games are based on real life stocks from the Nasdaq, NYSE, AMEX or other major market indexes.
Stock market games are often used for educational purposes to teach potential stock traders and future stock brokers how to trade stocks. Stock market games can also be used for entertainment purposes and to engage in fantasy trading competitions.
5 top benefits of Virtual Stock Market Game are:
1. Practical training
There has been a hike in interest regarding the markets. One definitely get the theoretical knowledge while studying the contents on various areas, but don’t get the practical exposure on the same. The virtual stock market trading helps the aspirants to learn the actual process involved in trading without undergoing any real time processes. The new entrant in market benefits a lot through this feature where one learns everything from basic to intermediary level.
2. Helps in understanding market
The virtual stock market trading helps one learn the market dynamics. It helps one to evaluate the effect of various world affairs on stock markets. Fundamental analysis is only possible through better understanding of the markets.
3. Elimination of Risk
The virtual stock markets helps in eliminating the real risks mixed with trading. One loses nothing while trading virtually.
4. Use of Virtual Money
In an economy where the money shifts with the blink of an eye, it is surely top-notch concern of everyone. In this game, the user makes use of virtual money for trading, so there is no actual cash outflow.
5. Cheap mistakes
Practice makes one perfect and making mistakes is part of being a human. A man learn most from his mistakes and if it does not cost one money, it is possibly the best option. All that costs one is virtual money and so the investors are assured of safety of their real wealth.