image of 4 successful websites to learn virtual stock trading without risking your money article

4 Virtual Stock Trading websites to learn trading without risking your money

In this article, onlinefarrago will discuss four popular virtual stock trading websites where you will learn stock trading without risking your money. If you are a beginner in the Indian stock market and yet not open any share trading account, then it will be a good choice for you.

Why you need it?

First of all, trading in the stock market always involves market risk. You can always lose some money if you do not have enough knowledge.

In most of the cases, newbie investors open a Demat account and start trading based on tips from various sources or using their own understanding. But finally, they lose a lot of money because of several mistakes. And newbie investors frighten and demoralize very soon.

So, now the question is how to solve this problem? How to learn stock trading in the Indian stock market without risking a single penny? The answer is – virtual stock trading websites.

What is Virtual Stock Trading?

Virtual stock trading or stock market simulator is a program or application that reproduces some features of a livestock market. So, you may practice trading in stocks without any financial risk. Virtual trading is also called Paper trading.

At the time of registration, these virtual stock trading websites will give you with some virtual money in your account. You can buy or sell stock using this money. These websites provide real-time stock data; hence, you can practice stock trading and test your strategies and skill. In this way, you can be prepared for the real stock market.

How virtual stock trading works?

You need to follow some simple steps to start virtual stock trading in India. The following steps you required to start.

  1. Create an account using your email id on the virtual trading platform or app (discussed in detail below).
  2. Sign in to the account and load some virtual money.
  3. Now you can start buying and selling stocks like as real life.
  4. Try your trading strategies and test your knowledge and skill.
  5. Regularly monitor your portfolio.
  6. In few weeks, you will learn how Indian stock market works and you can also check how you have performed.
  7. Whenever you feel confident about your abilities, then you can open a trading account and start stock trading with your real money.

Virtual stock trading websites

Here we have discussed 4 successful, most authentic and popular virtual trading platforms in India that we recommend giving a try.

1. Moneybhai

moneybhai-onlinefarrago
Website URL: Moneybhai

Moneybhai is a famous virtual stock trading website. This is a product of moneycontrol which is a very popular stock market-related website in India. You’ll get Rs 1 crore virtual cash in the time of registration. This virtual money you can use to invest in shares, commodities, mutual funds, or fixed deposits on the virtual trading platform. You can also buy and sell worth Rs 1 crore in intraday trading.

A great feature of this website is, they applied the imaginary brokerage charge of 0.50% in the virtual trade as in the real trade. There’s also a free forum on this website where you can ask your queries and participate in the discussion.

2. TrakInvest

trackinvest-onlinefarrago
Website URL: TrakInvest

Trackinvest is a very useful virtual trading platform. It is build up by considering the beginners’ point of view. So, if you are a complete beginner and you want a tutorial to know that how the stock market works, then definitely you can try this. It also offers trading guides for beginners’ level, trading tips related videos and certification courses, simulations for competing for rewards.

Trackinvest gives the investors access to real stock market from multiple global exchanges for virtual trading. Nowadays, it provides stock market data and news from 10 exchanges. Therefore, it also helps you to learn more. So, Trackinvest builds up your virtual portfolio like an expert and tests your investment strategies.

3. Dalal Street

dalalstreet-onlinefarrago
Website URL: Dalal Street

Dalal Street Investment Journal (DSIJ) in another popular virtual stock trading platform in India. At the time of registration, it offers Rs.10 lacs as virtual money for trading. It also provides an experience of real-time stock trading with a virtual portfolio.

If you want to learn stock trading by using investment journals, then you can get the advantage of this website. At DSIJ, you can also discuss your trading strategies with other participants in the discussion group.

4. ChartMantra

chartmantra-onlinefarrago
Website URL: ChartMantra

ChartMantra is a free online virtual stock trading simulator as well as a stock analytical platform. Here you can learn basics of the technical analysis. You can implement this experience on livestock trading to analysis your real portfolio.

Depending on the accuracy of your buy/sell decisions, ChartMantra will give you the rank among other players. You will be provided initial Rs.1 lac virtual money at the time of registration. The objective of this game is to make as much as money you can go to the top of rank.

The trading will cost 0.1% brokerage which will make the trading more realistic. You can also specify your stop loss just like the real trading. Therefore, ChartMantra is very beneficial for technical analysis enthusiasts’ people.

Advantages of Virtual trading

The advantages of virtual stock trading are as follows:

  • No need to invest real money.
  • No needs to open Demat/Trading account.
  • You can gather basic understanding and knowledge about stock trading.
  • You can do practice rather than only reading.
  • As there is no real money you can take higher risk.
  • Most of all, mistakes cause no real loss.

Disadvantages of Virtual trading

The disadvantages of virtual stock trading are as follows:

  • It is a dummy trading and no real money is involved. So, there’s no emotional attachment to the real one.
  • If you don’t get emotionally attached, you can quickly get bored.
  • A real market scenario might be a little different than the virtual trading environment.
  • When people profits in virtual trading, they tend to get overconfident in their abilities to make money.

Last words:

Virtual stock trading is a very useful way to learn the basics of trading in the Indian stock market. Here, you can try different investment/trading strategies without risking your real money. It’s always recommended and tries paper trading a few weeks before step in the real stock market.

Please leave your queries in the comment section and let us know your views regarding this article

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