Stocks are subjected to market risks and before taking risks it is very important to understand what risk you are taking. Before putting money into the stocks it is smart to do a mock trail. There are few android/IOS apps which may help you prepare to become an successful investor.
What are virtual exchanging applications?
A Virtual exchanging Application is where you will be doing trading using virtual money (counterfeit Money) which is given by app and will be trading using that money.
What is the benefit of using Virtual Exchanging Applications?
The main motivation behind the application is figuring out how to invest and develop a comprehension of how Indian financial exchanges work.
How Virtual Trading platform works?
The process of using virtual trading app is like any other app. All you need to do is
- Make an account by registering with details.
- Get virtual money in forms of welcome bonus or any other way from the app.
- Learn the basics and strategies pf stock markets.
- Make a portfolio to follow the equities of your choice.
- Start trading.
Uses of Virtual Stock Trading
- You can implement your ideas without any fear losing money.
- No need to open a demat account.
- Learn stock trading without any risk.
- Not subjected to market risks.
- Help you build confidence as a trader.
Here are the Top 5 Virtual Trading Apps for Stock market Beginners
Dalal Street Investment Journal is a real-time trading platform where you will be getting Rs. 10 Lakh Virtual cash which you can use to invest in the stocks available. They you can make your virtual money to use on app by win prizes from the DJ street virtual stock trading game. This app follows a BSE stock price.
Moneypot is the one of the most accepted web-based stock market simulation game by training institutes who trains about stocks. This is perfectly suitable for the beginner. In this app you will be getting Rs.20 Lakh virtual cash. Moneypot encourages it leading traders by giving prizes to them.
Moneybhai is product of moneycontrol. This is the most famous app In the indian markets. This app has all types of investment modules such as mutual funds, FD’s, bonds and etc. In his app you can take part in the league as well.
Trak invest is a global platform. In Trakinvest has curated market data from 10 Exchanges around the world. This is a kind of highly recommended to those who serious about trading and trying to understand global markets. Trakinvest also consist of certfications provided by market experts.
Every virtual trading app has some specific specality of their own. Trading view specialization is into the charts. Those who wants do straregy testing this app is the place. Not only for the beginners also for the pros this app can help. Trading view gives 1 Lakh Credits to play around.
Charta Mantra is by economic times and the best part of this app is historical market analysis. Charta mantra offers you 1 Lakh credits and you can play on a single stock at a time in chart mantra.
The main point of these virtual trading apps is to cross check your strategies before you start trading. It is always advisable before spending or investing money in stocks better to do a mock trail and then start investing.