Share trading can be a great way to earn some extra money and invest for the future, but it can also be risky if you're new to the stock market. With so much conflicting information on which stocks to buy, it can be hard to know where to start.
That’s where share trading games can be a great resource. Many of these games simulate the stock market so that users can practise trading using virtual money.
This way, you can learn how to develop an investment strategy without putting any of your own money on the line. Practice makes perfect!
Most share trading games offer a real-time simulation of stock market investing. These games provide you with a set budget, for example $50,000, of pretend money. You can then use these virtual dollars to “buy” your very own portfolio of shares.
Share trading games can teach you how to research companies, place different trade orders, build an investment strategy and minimise losses.
However, it’s important to understand that these can never truly imitate the real deal. Your appetite for risk and willingness to accept losses will always be different when your hard-earned cash is on the line.
It’s also worth pointing out that successful share market strategies often take several years to produce the desired results, which is far beyond the time frame of many share trading games.
The following games are a selection of online share trading games based on different markets and are available to Australians.
1. ASX Sharemarket Game
This is one of Australia's most well-known share trading games. The ASX Sharemarket Game is open to all members of the public including school students.
Players are given a virtual $50,000 to invest in 200 companies listed on the ASX – with company prices mirroring real live market prices and a standard brokerage fee per trade.
The game runs twice a year with those who want to register for the next game needing to do so by 9 February 2023. The share market game will run from 9 March until 22 June. You can set up a league to compete against family and friends. An online portfolio allows you to monitor your stocks and at the end of the competition, cash prizes are available to the 3 competitors with the most valuable portfolios.
2. StockWatch Trading
StockWatch Trading gives you a budget of $50,000 which you can use to manage your own fantasy share portfolio. The game is free and aims to offer an experience as similar to real-life trading as possible.
The game allows you to buy and sell shares, keep a record of your trades and your share portfolio, test out trading strategies and see how your performance stacks up against other traders. Instead of determining the leading trader based on the value of their portfolio, StockWatch Trading uses a points system based on good share trading practices.
When you sign up to the game you'll have a few rules that you must follow. They are designed to help you learn the basics of trading.
Maximum position of $10,000 per share to learn about diversification
You can only trade the top 500 companies on the ASX
Brokerage will be a minimum $29.95
Minimum trade amounts of $500 – like any real life CHESS sponsored shares
Although not based on the ASX, the Investopedia Stock Simulator is another free share trading game designed to give you a taste of share market investing. While not based here it still gives you a few advantages. You'll learn a thing or two about investing and about overseas companies.
Players are given a virtual budget of US$100,000 to invest and can compete with more than 700,000 other traders from around the world.
You can join or create challenges to test your skills against other investors, such as who can achieve the best investment results each day.
4. Wall Street Survivor
Another game based on the US market rather than the ASX, Wall Street Survivor is nonetheless worth a look for Australian investors. It gives competitors a budget of US$100,000 to invest in whichever stocks they like.
Features include simple-to-understand stock ratings and advice, a huge resource library and tips on company research. It’s a very useful educational tool if you’re looking to find out more about investing in stocks.
5. ASX Options Trading Game
This free simulation game run in collaboration with the ASX is for anyone wanting to hone their skills in options trading. Although trading options is an added challenge to regular share trading, the ASX Options Trading Game is suitable for both beginners and advanced traders.
When you sign up, you're given $50,000 of virtual cash to play with and a 4-week period to maximise your funds and get your name on the leaderboard. If you're curious about what trading options can get you, the game's last winner made $167,000 in 4 weeks, compared to $71,222 in the regular ASX share market game (September 2019).
The options game is run 4 times a year and it's a terrific resource for new and old investors or if you're just interested in taking your trading strategy to the next level.
What are the benefits of using share trading games?
Learn how to trade. Share trading games allow you to gain an understanding of how the share market works, and how you can buy and sell shares to generate wealth.
No money at risk. Share trading games let you gain trading experience without actually investing any of your own money. This means that you won’t end up out of pocket if you make a mistake.
Put theory into practice. Share trading games allow you to put some of your trading ideas and investment strategies into practice without exposing yourself to any risk.
What are the risks involved?
Never the same as the real world. Despite their benefits, playing a share trading game is never the same as investing in real life. Your appetite for risk and overall investment strategy is always going to be different when you’re not actually risking any of your own money.
Short-term. Many share trading games only run for a limited period, for example 10 weeks, which is not enough time to get a full understanding of how the stock market works.
Frequently asked questions about share trading games
No. These games are played using “virtual” money.
Yes, but rules differ between games. For example, the ASX Sharemarket Game allows players to “purchase” shares in ASX200 companies.
No. Individual share purchases are not allowed to exceed more than 25% of the total value of your portfolio.
Yes. The ASX runs 2 of its Sharemarket Games specifically for Australian school students each year.
Some online share trading platforms offer a free demo account for a trial period, allowing you to test out the features of their platform without actually spending any money.
If you’re new to investing, share trading games are a useful tool to help you learn the basics of buying and selling shares. Start researching share trading games today to find a game that will help you build your investment knowledge.
Kylie Purcell is the senior investments editor and analyst at Finder. She has completed a Certificate of Securities and Managed Investments (RG146) and specialises in investment products including online brokers, robo-advisors, stocks and ETFs.
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