Virtual Trading

Want to increase your wealth by investing in stocks, but have a fear of losing money? You can grab a good experience of trade without using real money with the Virtual Trading apps and software!  

In addition to that, there are many important things like a Demat account, trading account, BSE, IPOs, technical analysis, option strategies, charts, etc. that you can only learn when you directly apply them in the stock market.

Here we are with the detailed information of virtual trading of stocks that prepares you to know the potential risks of the trade and to get into a smart investment.

So whether it is about making an investment decision in equity, derivatives, commodities, currency, mutual funds, etc, you can be a PRO investor in each segment.

Dive in to know the meaning and various apps that help you to do virtual trade.

Virtual Trading Meaning

Many of the people must be thinking what is Virtual Trading? The accurate Virtual Trading meaning would be to analyze and understand the real investment process by recording the current market trends. Here, you do not have to spend money or buy shares. 

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“Losses are necessary, as long as they are associated with a technique to help you learn from them”

― David Sikhosana, Time Value of Money: Timing Income

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In simple words, through using Virtual Trading platforms a new investor or a trader can practice losing or winning money in the stock market by acquiring some new and different strategies.

Virtual Trading is also known as Paper Trading where an investor generalizes the stock investing market, strategies, profit-loss reports, etc. on the paper without risking any money.

The platforms that provide virtual Trading facilities are called stock simulators. 

When you register on these stock simulators, you are allotted some virtual money in your account that you can spend on real-time stocks and can try different investing strategies without risking money.

Several companies offer stock simulators for future investors either free or chargeable and some provide a week or two free trials too. The imaginary money is called paper money, monopoly money, or virtual money.

Also Read: IIFL Virtual Trading

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Virtual Trading Types

Virtual Trading is categorized into two types based on their work performance and their stock market supply type- financial and fantasy simulators.

• Financial simulators 

Financial simulators allow a trader or a player to learn about the stock market and generate strategies or techniques by working on the Virtual Trading platforms that give access to real-time stock data and generate a sound portfolio. 

In Financial simulators, a trader or a player is given virtual money, to begin with, and have deeper insights into the investment and trading process.

Perhaps, the main motive of Financial Simulators is to let individuals practice stocks by using virtual money in a real market and analyze whether and how they should invest in the stock market and which stock class should they invest to gain profit?

Some of the popular Financial simulators are Investopedia Simulator, Market Watch Virtual Stock Exchange, How the market works, and there are a lot more.

• Fantasy simulators

On the contrary, fantasy simulators are quite different from financial simulators as a person actually trades in the shares and derivatives of the real world.

Here in fantasy simulators, the commodities lists focus on sports or fun such as television shows, movies, games like baseball, football, etc.

Some of the fantasy simulators are Crossroads Inn (2019), Majesty: The Fantasy Kingdom Sim (2000), Fantasy Life (2012), Escaping Escapism, Cities: Skyline, and much more! 

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Virtual Trading Options

If you are looking ahead to trade in options, then get the proficiency in trade with the virtual trading options apps and software.

• Options are complex derivatives and require excessive research before investing. Profits and losses are unexpected in the options and can rise or fall dramatically. Hence, a beginner or a new investor requires virtual Trading to understand the options clearly and start buying or selling stocks.
• Virtual Trading options are quite a bit more effective than reading books or online articles since it gives you a real-time experience without risking any money.
• Practising and testing a plethora of virtual Trading options through different strategies and techniques in real-time allows the user with more understanding of the principles of the options with plenty of research and tools and learn a new market without any restraints.

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Why Virtual Trading Futures

The next challenging trading segment under derivatives is the Virtual Trading Futures. Here is how Virtual Trading software helps you in a master in the trade.

• Futures are quite risky and require extensive research before making a future contract. Their time period is lengthier therefore, virtual Trading futures is a good choice for a beginner and mid-level trader.
• Virtual Trading futures allows a new trader to analyze the future market, record the stock market, and practice buying or selling stocks without investing any money.
• Virtual Trading futures allows an investor to work in live risk and return goals, financing limitations, and buying or selling boundaries giving them enough possibilities to acquire more.
• In virtual Trading futures, you can control your data feed and can test in real-time happenings in the market.

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Virtual Trading Apps

There are many Virtual Trading platforms available in India where one can learn about the real stock market trends and trading principles.

Due to many fake virtual training apps available in the market, it is difficult to choose an effective Virtual Training platform providing enormous facilities and tools.

Here are some of the Best Virtual Trading apps in India:

1. Moneypot: Moneypot is one of the sophisticated virtual trading apps in India. This platform allows you to create your own strategies by buying and selling stocks or supplies from the trading screen from the real-time stock market.

Moneypot contains useful information about trading and the stock market. In this Virtual Trading App, a trader is allotted virtual money after the registering process.

This platform allows the trader to buy or sell stock and execute them with ease. They also allow a trader with a cashbook where a trader can quickly analyze the cash flow.

Moneypot offers a free virtual trading platform to allow a trader to practice new strategies. The features and tools are easy to use via their desktop app.

2. Trading View: Trading View India is a tremendous Virtual Trading app for both beginners and advanced level traders. 

Founded in 2012, it allows the traders to customize charts and conduct extensive research through this cloud-based Virtual trading platform. 

Trading View India offers one free and three paid accounts to analyze information about the current tools and features. A free trial option is also available on the Trading View App through which you can avoid Option Trading Mistakes.

It offers trading and investment across multiple domains such as forex, cryptocurrencies, stocks, and much more.

Trading View charts are one of the best features of this application where a trader can customize analysis, research market fluctuations, earnings calculator, and much more!

3. MoneyBhai: Moneybhai is another popular Virtual Trading app or an investing simulation game well known for its advanced features related to stock market trends and tools. 

Since it is a virtual trading app, it offers free services to the traders providing Rs 1 crore virtual cash after registration on their site. 

This platform offers new traders to explore the investment market and trade in different shares, commodities, mutual funds, IPOs, or NCDs.

At Moneybhai, you can clear your queries or doubts or you can also participate in their discussion forums free of cost which gives a trader to know and learn about the stock market more.

4. TrakInvest: Before you start getting your feet wet in the stock market, it is highly vital for you to try TrakInvest which is a fabulous global trading platform for beginners and advanced level traders. 

Presently, it offers organized market data along with the information and news from nearly 10 exchanges. 

TrakInvest is a famous and widely used Virtual Trading platform that also offers guides, videos, and certification stock market courses for the beginners which are designed by industry experts and simulations for competing for bonuses.

Overall, TrakInvest is a simple and user-friendly platform specially designed for the beginner level of futures traders. 

5. Dalal Street: Dalal Street is one of the competitive Virtual trading apps in India which provides an ample atmosphere to the traders, to begin with, the trading along with discussion forums and chat options.

With Dalal Street, the Stock market platform, you can get multiple tools and resources, consisting of insights and information regarding the simple to complicated strategies such as equities, derivatives – future and options, commodities, currency trading, IPO, NCDs, and much more!

Just like Moneybhai, Dalal Street offers virtual cash of Rs. 1 crore after registration of the account.

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Stock Market Games

Stock market games are highly important games in investment or virtual trading. They allow players to trade stocks, futures, options, equity, or commodity in a virtual atmosphere or simulator atmosphere.

Stock Market Simulator is a process through which instead of a Virtual Trading App or Platform, a beginner level trainer learns the trading concept and market trends through games without financial risks.

In the game, generally, traders or players compete with one another in predicting the correct market trend either fall or rise for a virtual portfolio.

Multiple games follow real investment platforms along with real-time market data to allow traders or players to have a deeper understanding of the trade insights.

Indian Stock Trading Games are as below:

1. Stock Market Challenge

One famous stock trading game is the Stock Market Challenge, which allows new traders virtual money of Rs. 10 lakh. 

This simulator lets you place pretend trades in real-time and real market conditions with free demo teaching videos and a game master to answer your queries and doubts.

Stock Market Challenge is not limited to buying and selling stocks. You can also practice with futures, commodities, currencies, options, and other derivatives as well. 

The Stock Market Challenge program offered by DSIJ Pvt Ltd and BSE is a powerful tool that also features a contest annually, quarterly, monthly, weekly, and even daily so a player can calculate his performance and score better to beat rank.

2. Stock Trainer: Virtual Trading

The second most popular game is Stock Trainer: Virtual Trading, which gives you access to real markets and their data without unnecessary ads.

Although this game is a bit more basic than the Stock Market Challenge, it offers tutorials and other educational research related to the Indian stock market to make this more about learning than earning huge profits.

Stock Trainer: Virtual Trading supports 20 nations’ stock market data giving enormous learning opportunities for the trader.

Another feature of Stock Trainer: Virtual Trading is that it provides stock data of the last 10 years along with giving access to free business magazines to the traders and comprehensive stock news.

3. TradeHero

One of the newest trading games is TradeHero which is a Singapore based Virtual Trading game, which you can play on a mobile app too. 

With TradeHero, if you play very well you can invite “followers” who can pay your subscription fee. 

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According to Tech in Asia- 

“TradeHero, a fantasy stock market app, offers investment enthusiasts a social community where validated trading strategies are available to learn and replicate in real-life trading.”

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TradeHero allows a new trader Virtual money of around Rs. 70,000 and gives real-time stock market data globally and regionally.

TradeHero analyzes your strategies and techniques and on that basis suggests a plethora of ways to make improvisations in your trading methods.

The app also lets you try forex, stocks, commodities, cryptocurrencies, etc. which offers you to fine-tune a strategy for these more unusual and risky investments.

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Virtual Trading Benefits

There are several Virtual Trading benefits that a new trader will avail while Trading without making any money and giving access to the real-time investment market.

Following are the key benefits of Virtual Trading:

• Trading without risk

The important key factor of Virtual trading is its ability to allow the user or the trader to work risk-free. Here, a trader does not have to worry about the risk, losses, or documentation formalities. 

In Virtual Trading even if a trader loses, he does not lose his real money since the platforms provide him with virtual money.

No matter how big or small the loss is, this will not affect his real money and he can test and practice various strategies and techniques with real-time stocks.

Virtual Trading platforms allow him to analyze the data, his performance and give him experience throughout the stock market.

• Complete adaptability

The other benefit of Virtual Trading is that it allows a trader to experience real-time market stocks.

Hence, this offers the trader to easily operate and learn the diverse innovative kinds of stock market orders available LIVE at different trading platforms as well as all the features and tools.

Therefore, when the trader visits a real platform he will not face difficulty in making investments or doing trades with various companies.

Create customized strategies and techniques: With the help of Virtual Training, a trader can make various strategies and techniques as per his requirement. 

Since no real money is involved and only monetary or virtual money is allotted to the user he can test and practice on various stocks and learn them with ease.

Through Virtual Training, a user can make multiple errors and come up with a productive and effective strategy to buy or sell stocks in the real market.

• Real online trading accounts

The next and important benefit of Virtual Trading it’s real online trading accounts to the new traders. This helps the user to understand the register and login process in a hassle-free way.

Besides this, a trader can learn numerous tips and tricks during real-time trading on a virtual trading platform and can create an approach accordingly. 

On top of that,  some Virtual Trading platforms allow a trader or a player to use a free recommendation section where important and useful information regarding the stocks is shared to improve the trader’s learning process.

• Practice makes a man perfect

A well-known phrase that is believed to be true in all spheres of life- Practice makes a man perfect. Hence, with the help of virtual trading, a trader can make innumerable mistakes and can learn through trial and error theory.

The mistakes won’t affect his real money or stocks available in the accounts which is a real advantage to the trader. Through buying or selling stocks, he can make several techniques and can learn different tools and features of investment marketing.

• Statistics analysis

Another Virtual trading benefit is the feature of statistics analysis where a trader can deeply analyze different types of stocks and can note down their future directions- Bearish or Bullish. 

Through using Virtual Trading Platforms regularly, a trader can learn how to make profits with different strategies and learn about the market trends too.

When the user will start trading online in the real market, he will have an idea about the future trend and can predict accurately.

• No money constraint

Finally, the last advantage of Virtual Trading is that a user needs not to worry about the money. He can buy or sell the supplies even if he does not have real money with him. 

The majority of the Virtual Trading platforms offer virtual money to the trader which does not affect his bank balance and he can easily start trading with different companies.

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Virtual Trading Drawbacks

On the contrary, Virtual Trading has some drawbacks too which quite a bit affects the performance of a new trader and these drawbacks cannot be ignored.

• Over excitement

Over excitement or inability to handle emotions properly is the major drawback of Virtual Trading. Since no real money is involved, traders do not feel bad if they gain profit or loss. 

Even they lose interest in understanding the trade and without proper judgment of how to buy stocks and sell. 

Real-time investment requires emotions that act as a plus point to think before investing and understand the present and future scenario.

• False and inaccurate data

There are several platforms where the correct information is not given. Some platforms share false market stocks that do not allow a trader to learn the investment process. 

Some competitive traders lose interest or follow a wrong investing pattern. Without understanding the bullish and bearish patterns occurring in real-time, the traders will not be able to acquire proper information. 

Also, creating strategies and techniques in such an environment will also be difficult.

• Finding the right Platform

With the advancement in the digital field, it is hard to find the right platform across many. Perhaps, getting a number of platforms online creates confusion among the new traders to choose the best virtual trading platforms. 

Even some of the paid platforms do not provide free trials to the new traders which makes it difficult to choose the right platform without making payment. 

Moreover, it is complicated to choose a platform that provides real-time data and also provides safety of the important stuff present in the traders’ phones. 

• Limited access

Some paid and free platforms provide only limited access to the trader. For instance, not having rich data of market stocks in the platform such as equity, derivatives, commodities, etc. or maybe a platform only focusing on currency trading whereas a trader wants to explore markets in mutual funds, equity and IPO too. 

In addition to this, Virtual trading does not allow a trader to go through the certifications, legal formalities, and processings. Hence, that trader faces difficulties while working with a real stockbroker.

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Conclusion

Virtual trading or paper trading is a magnificent way to learn the basics of trading and have deeper insights into the Indian stock market.

Through these Virtual Trading platforms or games, you can attempt multiple investment strategies and techniques and also learn simple to complex trades without risking any money.

As stock trading consists of real money instead of virtual money, it is a smart way to learn and practice on virtual trading for a few weeks or months before setting your foot in the real stock market.

Using stock market simulator games, you can effectively understand how trading works in India and how best stocks for long term investment predictions can be made.

For more understanding read Share Market Prediction in detail.

However, there are multiple drawbacks to paper trading. Although it gives you ample information, on the other hand, it offers you incorrect confidence in the markets. Without directly involved in the stock market, actual trading procedure, risks, process, and classes cannot be learned well.

As a matter of fact that no investment is without risk. Thus, people must always remember that before stepping in it’s better to calculate profits and losses.

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