Afraid about investing in the stock market? You will find endless advice on how, where, and when to invest in the stock market from your friends, family, neighbors, and of course, the Internet.
But when it’s the time to invest, no one can tell you exactly where to invest with zero risk, not even investment bankers. There are always some number of risks involved!
But what if we tell you, you can now practice stock market trading without spending real money?
Yes, that’s true! This is possible with stock market simulators. You can practice your stock trading strategies in real-time with virtual money, without even risking a penny.
Let’s dive into the details of stock simulators and have a look at some of the best stock market simulators in the market.
What are Stock Market Simulators?
A stock market simulator is just like a replica of the real stock market, where you can practice and implement your trading strategies. Users can use stock simulators to trade virtually in all types of assets including options, commodities, ETFs, forex, and a lot more.
The one major difference between a stock market simulator and a real stock trading market is the nature of the money. In a stock trading simulator, you trade using paper currency, while in the real trading market, you use real money.
So even if you face loss with stock simulators, you don’t lose money. And if you start making profits, it’s time to launch yourself in the real stock trading market.
The best part about stock simulators or paper trading simulators is that they allow you to practice different trading strategies. This helps to identify what’s working for you and what’s not. Thus, it makes you ready for the real-world trading market.
In fact, full time investors also use paper trading to experiment with new trading strategies without risking their capital.
10 Best Stock Market Simulators in 2023
- Wall Street Survivor
- Dalal Street
- Chart Mantra
There are multiple stock market simulators available that allow you to practice your trading strategies and find what works the best for you. Let’s check out the list of the best 5 stock simulators you can start using today.
Marketwatch stock trading simulator offers a great collection of stocks that users can add to their portfolio and refine their trading skills. It also allows you to track a stock’s progress, check out its latest announcements and news regarding the stock market, conduct an in-depth analysis, and more.
Additionally, it also comes with learning materials and educational resources for those over 16 years of age to use stock simulators.
- Virtual Stock Exchange Games
Indulge in custom gameplay where users can compete with their friends and coworkers to stay at the top of the leaderboard. In the virtual stock exchange game, you can set a starting budget and do short selling, margin trading, and more.
- Advanced Trading Options
Users can react to the stock market trends in real time using advanced trading options such as stop loss and limit orders.
- Create Custom Watchlists
Users can trade in real time using their virtual stock portfolio. You can also create your own watchlists by adding stocks and monitoring them to prepare your trading strategies.
- Build Your Own Game
Traders can create their own stock exchange public games or participate in an existing game. In the game, participants can discuss trading strategies and use a list of custom symbols to trade within the game.
Suggested Read: Best Technical Stock Screeners in India for Day Trading
TradeStation is used by trading practitioners to practice new and advanced trading strategies using unlimited virtual currency. Users also have the option to back test their strategies or apply it in real time to check their results.
The stock simulator is also great for experienced traders as it allows strategy automation, access to alternate market types, and placing advanced orders without losing any real money.
- Backtest Your Strategies
TradeStation allows users to back test their trading strategies in decades old historic database and analyze its results in stocks, futures, and options.
- Options & Futures Trading Simulator
Users can try different trading strategies in real time stock market as well as on historical data using options and futures stock trading simulators.
- Access Indicator Studies
Find new trading opportunities by applying indicator studies for different quantitative tools to your stock charts. With this stock simulator, you can apply trend, relative strength, momentum, and mean reversion indicators to gain experience in analyzing trends.
- Zero Risk Simulated Trading
You can use this free stock market simulator to practice buying and selling in the stock market with absolutely zero risk and unlimited virtual dollars.
Moneybhai is a stock trading simulator that comes with 1 crore virtual cash and a 1 crore intraday trading limit as soon as you create your portfolio account. Virtual money can be used for trading in assets such as mutual funds, shares, fixed deposits, etc.
- Stock Advice Available
Beginners can access stock advice from industry experts and veterans based on the years of technical analysis and research. It will help improve your trading game.
- Gaming Experience
Indulge in virtual stock exchange games and perform your best to be featured on the leaderboard section. There are also daily and monthly winners that you can follow to check out their trading stratgies.
- Discussion Forum
Use the free discussion forum to discuss trading strategies of fellow traders, ask questions, interact with others, and learn more about trading strategies that others are using.
- Realistic Stock Market Experience
Get a realistic stock market experience with Moneybhai’s transact and portfolio section. In fact, to make trading more realistic, Moneybhai deducts a 0.50% imaginary brokerage charge.
TrakInvest stock trading simulator is created for all levels, whether you are an explorer, learner, or already a pro investor. It offers data from the real market and a few easy-to-read guides that explain the basic and pro level of stock trading.
- Analytical Trading Tools
You can use TrakInvest analytical tools such as technical analysis charts, price metrics, performance tracker, score meter, etc., to improve your trading practices.
- Learning Material & Certification Courses
Educate yourself on trading practices with certification courses created by industry experts, market news, beginner videos, and more.
- TrakInvest Community
TrakInvest community allows users to track other traders’ activity, and even replicate them using ‘copy trading’. You can also follow some trending traders to learn from their experience.
Suggested Read: Best Stock Trading Software with Technical Analysis in India
Wall Street Survivor
Wall Street Survivor focuses on educating traders through their interactive courses and learning material. It gives you the opportunity to trade in real time in ETFs, crypto, US stocks, and more with virtual money of $100,000. Users can also access free courses on stock trading created for beginners and professionals. These include a library of videos and articles on topics like option trading, fundamental analysis, and more.
Wall Street Survivor Features
- Free Courses to Learn Trading
Access free courses on stock trading created for beginners and professionals. These include a library of videos and articles on topics like option trading, fundamental analysis, and more.
- Earn Prizes
The stock market simulator allows users to participate in monthly contests and compete among themselves for prizes and rewards.
- Learn with Your Friends
To make it more fun, you can also learn trading with your friends in the Wall Street Survivor community which has more than 500,000 users. Engage and discuss different trading strategies to learn from them.
NinjaTrader is a popular stock trading simulator that is completely free for its users. It’s strategy backtesting option allows you to simulate your automated trading ideas using historical trading data. Its trading indicators, real time scanners and stock charting tools are highly interactive.
Users can also play, pause or rewind the historical market data in a synchronized manner as it was happening in real time. Furthermore, by using Simulated Data Feed, they can control their own market data feed to test automated strategies, as and when required.
- Personalize your platform
Customize your NinjaTrader account with signals, indicators and strategies.
- Data, Add-Ons & Education
With free EOD historical data for stocks, forex & 100s of free apps, educational videos, help guide as well as free training webinars, you can educate yourself on trading practices.
- Powerful real time analysis
Easily monitor hundreds of market conditions based on your predefined conditions to scan, rank and sort time & sales data. It displays every trade that occurs and provides relevant information about each one like the exact time, number of contracts that were traded & so on.
MoneyPot is a web based trading simulator for the Indian stock market specially designed for universities, corporations, universities, and colleges. MoneyPot aims to connect the online investment community through this social trading platform. It helps traders try strategies of different types without the fear of losing real money. Students benefit explicitly from this scalable trading platform as it provides a complete experience of a real time trading environment.
You can find all the essential features such as news of stock market, backtesting and more. The best part is that it is easy to sign up. And you will be credited with 2 million virtual currency which can be used for trading or investing in various commodities, shares & so on.
- Real-Time Data
Offers real time news and data across different types of funds by simulating the real time stock trading platform. This data is helpful in analyzing various investment strategies to create maximum profit.
- MoneyPot Community
MoneyPot community allows users to discuss various investment strategies related to funding and investment with other fellow traders. Trade related articles are also available that can be useful for the first time traders who wish to explore the trading world.
- MoneyWall Ranking System
Allows traders to demonstrate their trading achievement to other users as well as share insights on their training journey so far.
TradingView is another popular paper trading simulator that helps you to learn and improve your investing skills. It offers a beginner’s guide as well as videos by industry experts that can help you understand nuances of the stock market.
At TradingView, you can also track other traders and keep an eye on their trading activity. The other exciting feature of this stock trading simulator platform is that there is an option for ‘bar replaying’ that lets users rewind the market trend and watch it at their convenience.
- Super charts
TradingView’s super charts let you check the latest stock price in the market or analyze price patterns. They have 12 different chart types including Kagi, Renko, & Figure, which are customizable.
- Pre-Built Studies & Tools
It comes with over 50 intelligent drawing tools, 100+ prebuilt indicators, volume profile indicators and a set of tools for in-depth analysis of the market. It covers the most popular trading concepts that can help investors make rational investment decisions.
- Unmissable Alerts on Every Device
Powered by Pine Script, you’ll never miss trade alerts on prices, strategies, and indicators. Being cloud based, trading alerts are available for every device. (Tablet & mobile, desktop app & more).
Dalal Street is a popular real time stock trading platform to help you understand the nuances of stock trading and test various investment strategies. It even allows users to share their thoughts with other traders on the platform itself.
Once you’re done with registration on this platform, you’ll get a virtual cash of INR 10 Lac to create your portfolio. You can further use this virtual portfolio to participate in different leagues. Not only this, Dalal Street also allows you to discuss strategies with like-minded people in the Dalal Street community.
Dalal Street Features
- Backtest Strategy
Dalal Street lets you understand the nuances of the stock market as well as test investment strategies.
- Quick Notifications
Actively communicates real time changes in the market by sending out quick notifications.
- Experiential Learning
Learn the basics of stock market, different trading concepts like investing in stocks, online trading & more through various learning materials.
ChartMantra is a free stock simulator trading app in India, backed by The Economic Times. Using this app, you can play, enjoy and learn the basics of technical analysis that is important to carry out stock related activities in a simple infographic way.
What more? The moment you sign up for the new gamified learning platform, you get 1 lakh virtual cash. However, it is important to note here that you are not allowed to invest in more than one stock at a time.
- Easy Sign-Up Process
Easily sign up on ChartMantra using Google, Facebook or Yahoo ID.
- Analyze Buying & Selling Activities
This platform lets you analyze your stock related activities and identify your strength/weakness before you apply the same strategy on your real trading account.
- Infographic based learning
Learn and play on technical analysis through infographics for an interactive experience.
Do Stock Market Simulators Really Help?
Stock market simulators can be of good help for beginners, and professional traders as well. It is one of the best ways for you to learn trading without risking your real money. You can practice different strategies and even learn from other traders and gain a better understanding of stock technical analysis.
Suggested Read: List of Nifty Buy Sell Signal Software for Indian Stock Market
- What is the best stock market simulator?
A few trusted stock market simulators are Moneybhai, Marketwatch, Wall Street Survivor, etc. They come with good educational content that helps you in improving your trading practices.
- Is there a stock market simulator app?
Yes, some of the stock simulator apps in the market are Trading Game, Investing.com, The Game of Stocks, etc.
- What is the best free stock market simulator?
The best free stock market simulators are TradeStation, TrakInvest, and Moneybhai.
- What is the best stock market simulator for students?
Wall Street Survivor is the best stock simulator for students that offers free trading courses with interactive videos and articles.
- Are stock market simulators accurate?
Stock simulators might not be 100% accurate because eventually, it is simulated trading. But users can always practice their trading strategies, which will help them in real trading.
- How can I practice stocks without using real money?
You can practice stocks without using real money using a stock simulator platform, where you can practice trading with virtual money, without risking real money.