Who would you trust more to fly an airplane: someone who has logged 1000 hours in a simulator and has that much experience in real flying, or someone who has only logged 50 hours in a simulator? The answer is certainly obvious…Simulator training is an essential aspect of both professions, allowing pilots and traders to hone their skills and prepare for real-world scenarios without the risk of failure.
Imagine being able to fly through a storm or execute a trade during a market crash, all while sitting comfortably in your room. It’s a stress-free way to learn! And the best part? No one will judge you for crashing the plane or losing money in a simulated trade.
So, without further ado, let’s dive into the best stock trading simulators available in 2023! ⚡
🥇Best Overall Stock Market Simulator – The Trading Game – Download
The Trading Game is a stock market game & trading simulator for beginners trusted by 2,405,000+ students worldwide. Their full in-depth stock school and simply explained trading strategies can help you to become a PRO trader.
Quick facts:
🤹 Available assets: 51 stocks, 24 cryptos, 16 currency pairs, 10 commodities, 5 indices
🛠️ Technical Indicators: Moving Average (more technical indicators coming soon)
⏰ Time Frames: 15s, 1m, 5m, 15m, 1H,1D, 1M
Best for: Beginners
👍 What we liked:
– Illustrated and interactive lessons that help to learn in a fun way are perfect for beginners.
– The battle option is a fun and interactive way for users to test their trading skills and strategies against others in a competitive environment.
– With this trading simulator, you can practice 24/7, because they offer a wide range of stocks, forex pairs, crypto, commodities, and index funds.
– Live market prices in the trading simulator (most of the other trading simulators available have delayed or static prices).
– Detailed stats about personal trading performance
– Simple interface and risk management tools to learn how to not lose money.
– Daily news, market insights, and signals
👎 What we didn’t like:
– No possibility to search for the asset
– There could be more technical indicators for example Volume, RSI
Our verdict:
The Trading Game is a superb stock market game & trading simulator for beginners. We recommend to try for everyone who is interested to learn about stock trading in a fun and engaging way.
🥈Best for Social Trading – eToro – Download
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
An eToro demo account is a simulated trading account that allows users to test out the eToro trading platform and practice their trading skills without risking any real money. With an eToro demo account, users can access all of the features and tools available on the real trading platform, including the ability to place trades, view market data, and track the performance of their portfolio.
Quick facts:
🤹 Available assets: More than 3000 stocks
🛠️ Technical Indicators: 60+
⏰ Time Frames: 1m, 5m, 10m, 15m, 30m, 1H, 4H, 1D, 1W
Best for: Beginners, PRO traders
👍 What we liked:
– A demo account can help you get familiar with eToro’s platform and all of its features, so you’ll be better prepared when you start trading with real money.
– Some brokers have limited demo account usage, but eToro has no time limit, so you can practice for as long as you need to feel comfortable before transitioning to a live account.
– They have a wide range of available assets and technical indicators.
– They have the most simple trading interface among other brokers.
👎 What we didn’t like:
– There are no lessons about stock trading inside the mobile app.
– There is no desktop app
Our verdict:
eToro has user-friendly interface and social trading features, which allow users to follow and copy the trades of other successful traders. Overall, eToro is considered a reputable platform. Highly recommend!
Best for PRO traders – TradingView – Download
TradingView is the ultimate destination for all your charting and trading needs! If you are a trading pro this platform has everything you need to analyze financial markets and make informed trades. With real-time data, advanced charting, and a vibrant community of traders sharing their ideas and insights, TradingView is the perfect place to hone your skills and become a successful trader.
Quick facts:
🤹 Available assets: The exact number of assets available for paper trading may vary depending on the specific asset class and the region in which you are located.
🛠️ Technical Indicators: 100+
⏰ Time Frames: 1s, 5s, 10s, 15s, 30s, 1m, 3m, 5m, 15m, 30m, 1H, 2H, 3H, 4H, 1D, 1W, 1M, 3M, 6M
Best for: PRO traders
👍 What we liked:
– TradingView offers a variety of charting tools and features, including multiple chart types, indicators, drawing tools, and alerts. This allows users to customize their charts and analyze the markets in a way that suits their needs.
– TradingView has a large and active community of traders and investors who share ideas, strategies, and analysis on the platform. This can be a great resource for traders looking to learn from others and get new ideas.
– This platform can be integrated with many online brokers, allowing users to place trades directly from the platform. This can be convenient for traders who want to have all of their tools and information in one place. </aside>
👎 What we didn’t like:
– May not be suitable for beginners who prefer a more simplified or streamlined platform.
– Some features may require a paid subscription. (PRO plan is EUR 19,99/Mo, PRO + plan is EUR 41,99/Mo and Premium is EUR 93,99 EUR/Mo.
Our verdict:
If you are a PRO trader, we recommend to try TradingView. They have the best charting in the world.
For great trading insights – Investopedia – Website
Investopedia’s simulator is a web-based platform that allows users to practice their trading and investment skills in a simulated environment. This simulator is trusted by more than 3 million traders from all around the world.
Quick facts:
🤹 Available assets: 6000 (stocks + options)
🛠️ Technical Indicators: 0
⏰ Time Frames: 1D, 1M, 3M, 5Y
Best for: Beginners, PRO traders
👍 What we liked:
– Investopedia offers a wide range of financial and investment-related information, including articles, tutorials, dictionary terms, and more. This can be a useful resource for people who are looking to learn more about finance and investing.
– Investopedia is a well-known and respected financial education resource, and its content is frequently cited by other media outlets.
👎 What we didn’t like:
– The mobile app for the simulator is not available
– There are no 5min, 15min, or 30 min timeframes for those who like to spot trading opportunities.
– You can only trade stocks and options in this simulator, so if you would like to trade also crypto/commodities/forex then you need to download some other trading simulator for that.
Our verdict:
Investopedia is trusted platform my millions of users, but if they don’t want to lose their ranking, we recommend to change the design of the website, as it’s looks too outdated.
For private games with friends – MarketWatch– Website
The Virtual Stock Exchange from MarketWatch is a free app that allows you to simulate trading with real-time prices. You can create your own game, or join one of the over 40,000 games already in play to test your investing skills against other players. This app provides you with the data, tools, and information you need to learn how to invest, test different strategies, and practice executing trades without using real money. Additionally, you can use MarketWatch’s award-winning journalism to research investment ideas and stay informed about market conditions.
👍 What we liked:
– Possibility to make custom private games with your friends.
– MarketWatch is trustful financial news resource trusted by millions.
– Player can choose starting capital
👎 What we didn’t like:
– Too long registration process to make an account
– Complicated process to make a new game
Our verdict:
MarketWatch financial news are top notch, and we appreciate their idea to make the place where to learn how to trade stocks. 8/10 from us
How to choose a good stock market simulator?
When choosing a stock market simulator, there are several factors to consider to ensure it is a good fit for your needs. These include:
- Realism: How closely does the simulator mimic the real stock market? Does it include real-time data and market fluctuations?
- Educational value: Does the simulator provide information and resources to help users learn about investing? Are there tutorials and educational tools included?
- User-friendliness: Is the simulator easy to use and navigate? Are there clear instructions and a user-friendly interface?
- Customizability: Can users customize their portfolio and set their own investment strategies? Are there different levels of difficulty to accommodate different skill levels?
- Social features: Does the simulator offer social features such as chat rooms, forums, or leaderboards? Does it allow users to compete or collaborate with others?
- Mobile compatibility: Is the simulator available on mobile devices? Is the mobile app user-friendly?
- Cost: Is the simulator free or does it require a subscription or one-time purchase? Are there in-app purchases?
- Reputation: What do other users say about the simulator? Are there positive reviews? What are the general consensus from the users?
By considering these factors, you can choose a stock market simulator that is well-suited to your needs and provides a realistic and educational experience.
Why use stock trading simulator?
There are several reasons why people might choose to use a stock trading simulator:
- Learning and Education: Stock trading simulators provide a risk-free way to learn about stock trading and investing. They allow users to practice different strategies and gain experience without risking real money.
- Test new strategies: Stock trading simulators can be used to test new investment strategies and see how they would perform in the real market.
- Understand market fluctuations: Stock trading simulators can help users understand how different market conditions and events can affect their investments.
- Low-cost practice: Stock trading simulators allow users to practice stock trading without incurring the high costs that come with real-world trading.
- Improve decision making: Stock trading simulators can help users improve their decision-making skills by allowing them to experience the consequences of their choices in a simulated environment
Pros and cons of playing stock market trading games
Pros of playing stock market trading games:
- Learning and education: Stock market trading games provide an opportunity to learn about stock trading and investing, allowing users to gain an understanding of how the stock market works, and how to buy and sell shares to generate wealth.
- Risk-free practice: Stock market trading games allow users to gain trading experience without risking any of their own money, meaning they won’t end up out of pocket if they make a mistake.
- Try different trading strategies: Stock market trading games provide an opportunity to put some of your trading ideas and investment strategies into practice without exposing yourself to any risk.
Cons of playing stock market trading games:
- Unrealistic confidence: Playing a stock trading game is not the same as investing in real life, and it can lead to an unearned sense of confidence which can be detrimental when investing in the real stock market.
- May not be entirely accurate: Some games may not be entirely accurate and may not reflect the real-world market conditions, which can lead to confusion and unrealistic expectations. That’s why it is important to always use real-time trading simulators.
Summary
In conclusion, stock market games have come a long way in terms of realism, education, and user-friendliness. Whether you are a beginner or an experienced trader, there is a stock market game that can help you improve your skills and develop your trading strategies. The games mentioned in this article are some of the best available in 2023, but it’s important to remember that the best game for you will depend on your individual needs and preferences.
Consider the criteria mentioned in this article, such as realism, educational value, and user-friendliness, when making your choice. With the right stock market game, you can learn about investing, practice new strategies, and have fun all at the same time. As technology advances, we can expect more realistic and sophisticated stock market games to come. It’s always important to stay updated with the latest trends, and to keep learning to be the best trader you can be.