5 Best Stock Market Simulators for India – Review, and analysis. The rags to riches stories of investors like Warren Buffett and Rakesh Jhunjhunwala are one of the prime motivations to jump and pump money into the stock market. Many who have done this, baring a few have ended up losing their hard-earned money. And naturally, most of them quitted stock markets within a year or so, making the loss a permanent one.
Actually what went wrong?
The common factor among them all was that they all want to be rich as soon as possible. They failed to understand the importance of doing their homework before venturing into the new investment path. A stock market is a place where bulls and bears fight with all their might and tricks. And it will take some time to gain the experience to identify the pitfalls in the investment path.
The happy news is that you can learn to invest in the share market and gain sufficient experience without investing even a single rupee. That’s where stock market simulators come into play.
What is a stock market simulator?
A stock simulator in simple terms is a software that allows you to trade stocks, commodities, and even ETFs in real-time using virtual money. The best part about stock simulators is that it lets new investors and traders get a real taste of the stock market without getting their hands burned.
You can take risks while investing in simulators. Even if your investment decision flops and you become bankrupt in the simulator, nothing will happen to you in real life. But if that happens in your real-life think of the consequences. But the word of caution is that even if you make some money in a simulator that does not guarantee that the same thing will work with the real market. So testing shallow waters first is always recommended.
Let us see the three best stock market simulators optimized for Indian market.
Moneybhai by money control
MoneyBhai is a powerful, modern stock simulator developed by Moneycontrol which gives investors, an opportunity to learn trading by experiencing markets in real-time. Virtual currency is used for buying and selling stocks. This is the most popular stock simulator in India. All you have to do is register and create an account in MoneyBhai using Facebook, Google, or your email id.
In MoneyBhai, you get an initial corpus of ₹ 1 crore to buy shares in delivery as well as for intraday trades. With this virtual money, you can invest in all the allowed asset classes such as stocks, mutual funds, bonds, and fixed deposits.
MoneyBhai gives a real taste of the stock market as it allows orders like Limit order, Market order, and GTC order, etc. To keep things as realistic as possible, MoneyBhai charges brokerage just like in normal trading accounts.
|Asset Class||Stocks||Stocks – Intraday||Mutual Funds||Bonds|
Key features offered by MoneyBhai are…
- If you have used up all your money, you can reset it back to the original portfolio balances/cash. So, you do not lose anything here even if your investment decision failed.
- It uses actual market data from the share market. This offers real-time exposure, similar to using a brokerage account for trading in.
- You see people who are performing good and chose to follow them to refine your own strategy. The leaders board is updated every 20 minutes.
Overall MoneyBhai satisfies most of your expectations for a good stock market simulator. A big downside of this platform is that it doesn’t allow you to analyze stocks properly.
Stock Market Challenge
The Stock Market Challenge launched by Dalal Street investment journal (DSIJ), India’s most trusted investment fortnightly is
a virtual online simulation mobile game, where you build your own portfolio and manage it with zero risks to compete among other players. It is a great platform for both a newbie trader and even for experienced traders. It is organized in a contest format where winners with most valuable portfolios can win attractive prices at the end of the season.
The key features of the game are…
- Realistic to the market (Live streaming from BSE )
- The execution time of just 1 min.
- Short-selling feature and corporate benefits as per actual market
- Display of the top 20 leaders’ transaction
- Stop-loss can be set for stocks
- Discuss strategies with like-minded participants in the discussion groups
The downside of the Stock Market Challenge is that it includes only stocks and does not have options to trade bonds and commodities as in MoneyBhai.
TradingView is a cloud-based charting and social networking software for both beginners and active investors. It is a very simple platform that lets you analyze stocks on a real-time basis with a few clicks. It has a free version and a premium version. All the Basic charting, research, and analysis information are available in the free version which is sufficient for all retail investors.
In the beginning, you are provided with Rs.1,00,000 which can be reset at any number of times. The chart has a floating buy/sell panel that lets you quickly enter orders. You can buy any security that actually trades here.
MoneyPot is another platform that can help you learn investment using virtual cash. Investors receive Rs. 20,00,000 as virtual money for each game. The sum is used to build and manage a mock trading portfolio based on real stock market updates. This portfolio includes stocks or equities that are listed on the Bombay Stock Exchange (BSE).
Track Invest is another stock market simulator platform where you can practice trading. The greatest disadvantage of Track Invest is that it does not have a completely free simulator platform. Even the basic simulator requires a fee of $1. The premium versions have bundled training programs with it to help you get equipped with the latest trading techniques.
Stock Market Simulators are a real boon to novice traders. Stock simulators provide an opportunity to step into the world of Investing for beginners with zero risks. But keep in mind that the reality can be different from simulators. Still, simulators can help you to make better investment decisions later when you play with real money. Happy investing…