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Stock Market Game
Cash in with a virtual stock market game
It seems that stock market games are popping up everywhere lately. Some act as a virtual stock market simulator mixed with a gaming or betting component, which gives them a gambling-like appeal. Still others, like these stock trading games, are designed solely as simulated stock exchanges. The latter act more as learning tools by giving their users the very realistic experience of trading in the actual markets. However, the former can be useful as learning tools too while also providing a fun and competitive atmosphere. So, if you want to learn more about trading stocks and you enjoy gaming or competing against others then these stock market games could be right up your alley.
Trade stocks and win prizes with Umoo
One such stock market game is Umoo. I'm not sure what the name means, but I think it has something to do with the term "market on open". Umoo is essentially a virtual stock market where participants join tournaments in which they are given $100,000 in virtual money to build up a portfolio of stocks picked from the S&P 500 index. Each tournament has different entry fees, rules, and prize amounts. Once you pay the entry fee (just as one would to enter a game of poker) you build up your portfolio to compete against the other player's portfolios. Whoever has the best performing stock portfolio at the end of the tournament gets the cash prize. Users can also sign up for free and join in the no-prize tournaments for practice. However, to win prizes you must deposit money to be able to join the prize awarding tournaments.
The Umoo interface gives you real-time stock data, news, and resources so that you can research your stock picks (check out the introductory video). The stock prices follow precisely those on the "real" stock markets, which gives you a realistic picture of stock market mechanics. The only difference is that you are trading against other players rather than the stock market. As a beginner, testing and developing your skills with a stock market game instead of in the market is always a smart choice. And with Umoo, once you get better at it you have the opportunity to use your trading skills to win prizes as well. All around its a fun stock game that beginners can use to great advantage.
Race your stock picks against traders
Another new stock market game is Trade2Race, which is a simple game that lets you bet on various market items, such as particular stocks, commodities, and foreign currencies. Signup is free and you start off with 10 Euros in cash with which to enter a game and make wagers (US Dollar payouts and deposits are accepted as well). There are many different games to choose from, each with different and competing market items.
The novel thing about Trade 2 Race is the car racing theme, which avid video gamers will get a kick out of. In each game the items are represented by a race car, whose place in the race is determined by the item's real-time market performance (see the video for a demonstration).
So, racing aside, in effect you are picking which stocks will outperform the others within a certain timeframe. At the same time, other players pick other market items that they hope will outperform yours. The winner recieves the pot at the end of the race. As a learning tool it doesn't offer nearly as much as Umoo, it is basically a betting game. However, it will allow you to test your skills at comparing and picking stocks without risking money in the market. Also, when doing real stock trading, timing your entries and exits can be tricky, especially when day-trading. So, this game can be useful for honing your market timing skills. Be careful though, it can get addictive.