The Stock Market Simulator Investing app is a trial type of app that gives you the chance to try before you buy. Once you sign up, you can play a simulated version of the stock market and invest virtual funds without taking on any actual risk.
Accounts start with $10,000 and the virtual stock market gets updated 15-20 minutes behind the real U.S. market. This means that you can track your investments in real time. This app is an educational tool and fun way for first-time investors to get used to the stock market and to learn how the stock market works without losing any money.
Most online stock simulators try to match real-life circumstances and actual performance as much as possible.
Something to watch out for when playing with the stock market simulator is that you don't get too confident. Since there is no actual capital at stake, a stock simulator may foster excessive risk taking. You may form some bad trading habits that become difficult to quit once you get involved with real money in the actual stock market real world.
Most people like games. Stock market simulators are just that. As a teacher I can attest to the fact that when learning can be made fun, the learning process can go by so much quicker. It's easier to learn a new skill when it's fun and not boring or hard. A stock market simulator can be used as a vehicle to make learning about the stock market fun for the user.
Pros
- There is no money to lose
- It is educational
- You get to try before you buy
- Good way to test out your skills
- A good stepping stone before playing the real market
- These apps can be fun to play
Cons
- There is no money to gain
- May form bad risking taking habits that will be hard to shake off in the real stock market world
What Other People Are Saying
There are many people who have great fun playing these stock market simulators. One person said, "Sometimes you just need a little extra help to build your confidence." Stock market simulators combine learning about stocks with fun.
Cost and Process to Join
Stock Market Simulators are free to try. Once you try one out, you can decide if you want to buy into an actual stock market app for a cost.
Customer Support
With market simulator investment apps, you can interact with other traders from diverse backgrounds and experiences. The simulators may connect you to other people that are playing the simulator more so than a customer service support system. You will get to learn the methods behind other people's trades so that you will become a better investor.
My Conclusion
Stock Market Simulator Investing apps can be a great way to learn about the stock market without taking any real money risks. Tread carefully, though, and be careful that you don't get overconfident and form bad risk-taking habits that may be hard to shake off in the real world of stock trading. A great thing about the stock market simulators is that they are free and nothing is at risk. You may be able to connect with people and learn their methods behind trades so that you will become a better investor.
For more reviews and information, check out our list of the Top Ten Investing Apps of 2018.
