You've heard of fantasy football. But have you heard of fantasy stock market games? Several of these games exist online. They can be a lot of fun while honing your investing skills. What are the benefits of playing? How can these games help you? How do they work? What are they?
Fantasy stock market games require you to set up a free account. You receive free virtual play money to invest in the game's stock market. You pick stocks and place trades. The games provide access to information on how to invest, how to choose stocks, and how those stocks are doing throughout the trading day.
One of the biggest benefits to these games is that you have the opportunity to invest in the stock market without risking any of your money. Of course, any profits you make are not in real money. You can get a feel for investing in the market. It's a good way to test your risk tolerance.
Another benefit is the investing courses and information that is included with many of these games. Many have videos to watch on investing. The information is very easy to understand. Here you can get a free education in the various aspects of investing. Combine this education with playing the game and you are on your way to successful investing. The buying and trading offers valuable experience.
The games are a lot of fun. Where else can you get several thousand to a million dollars in under a minute? You have the chance to create great virtual wealth. You can compete against others to see who has the most winning portfolio. Watch out - the games will list the worst portfolios, too. A little extra incentive to do well. There are even contests and prizes.
Do you have a stock strategy you want to try? Unsure if it is going to work? These games are a great way to test out an investing strategy. Here you can tweak your portfolio and cut anything that doesn't work.
Many of these games allow you to form leagues. You can create a league with friends or other members of these games. Teachers and investing clubs can form their own leagues. It is a useful learning tool for in the classroom.
Several free games exist. Here are three to consider: wallstreetsurvivor.com, smartstocks.com, and investopedia.com's stock simulator. Of these, Smartstock offers the one million play money.
Fantasy stock market games are a great tool for investing success. You can get a decent free education. Plus, it's just plain fun. You can hone your skills before buying and trading stocks with real money.
May I recommend my ebook, Investing $10K in 2013