Fantasy Stock Trading
Fantasy stock trading is an excellent way to get a feel for stock trading without risking any money. It allows you to experience the emotional highs and lows that most new traders feel.
It is definitely an excellent idea to play a stock trading game like wall street survivor for a considerable period of time before trading stocks with real money. Infact, I would personally recommend fantasy trading for many months, until you have have gained some trading experience. As with many things in life, there is no substitute for experience.
The things I liked
When you visit their website you are presented with a simple but pleasant page offering the option to signup or login. One thing I liked is that signing up is both quick and easy, there is no lengthy forms to fill in.
After joining I immediately had an account with $100,000 for fantasy trading.
Traders can buy any stock or ETF listed on the NYSE, NASDAQ or AMEX exchanges as long as the bid price is at least 25 cents. They don’t do penny stocks listed on pink sheets.
I had a look round the trading platform and was happy to see it was very straight forward.
As you can see from the screenshot above there are a number of menus at the top of the page. The trade menu is selected offering many options, just like a real stock broker.
I tested the platform by buying 200 shares in Exxon Mobil and the order went through quickly and my account balance was updated immediately.
Here is a screenshot of my account balance after the purchase:
The platform also has a social network element to it, where there is a busy forum and trading contests. You can win up to $2,000 if you get the highest returns over a month.
The things I wasn’t so keen on
There wasn’t much I didn’t like about this fantasy trading game in honesty. Perhaps if i’m to be picky, one thing that was mildly irritating was the amount of adverts on the site. It is a nice platform, but I could have done without having so many ads thrown in my face.
Another thing about Wall Street Survivor I wasn’t massively keen on was the big emphasis on the trading game and winning prizes. You may think I am a little dull, but trading for me is a serious business and not a game, but this is perhaps down to personal preference.