The best way to learn stock trading is via Virtual Trading App or website. We are much luckier than our grandparents, or even parents. We have tools called Virtual Stock Trading Platforms. Usage of modern technologies and IT have helped us a lot in creating a virtual stock trading platform. Many websites and brokerage houses are offering this type of platform.
If you are a beginner or novice investor and want to learn stock trading you should use a virtual trading concept. Virtual Stock Trading helps you to do some practice and hands-on before putting your hard-earned money in the stock market.
In this article, we will be discussing the following topics related to virtual trading.
- What is Virtual Trading?
- How Virtual Trading Platform works?
- Pros and Cons of Virtual Stock Trading Platform
- 5 Best Virtual Trading App and Sites for Stock Trading
Also Read – Intraday Trading in Stock Market as Career Option
What is Virtual Trading?
Virtual trading means doing trading in a virtual environment. In a virtual environment, you can buy and sell stocks with the use of virtual money. No real money is involved in doing virtual trading. It means Virtual trading platforms let you trade in real-time market scenarios but with fake money. It’s like a flight simulator for stock trading—experience the thrill and challenges without the fear of crashing.
Entire profit and loss are in the virtual environment. It is like a simulator where a trader can practice without using real money. The environment given here is close to the real environment. You can feel the actual environment.
It is a very good idea to use this platform for learning to trade. It eliminates the financial risk that may result from the actual trading decision. There are multiple names for this platform. It is called a stock trading game, stock simulator, virtual trading app or site.
So, whether you’re a newbie or a pro looking to test new strategies, these apps can be a game-changer. Let’s dive into the five best virtual trading apps and sites for stock trading in India.
How Virtual Trading platform works?
The process of using virtual trading platform is very simple. Follow the steps given below.
- Logon to website or app and open a free/paid account on a simulating platform.
- Apply and get virtual money for buying and selling stock.
- Learn stock market basic and trading strategies.
- Start buying and selling stocks and applying trading strategies.
- Monitor stock portfolio for profit and loss.
- Follow above process for few days till you get confidence.
- Once you become expert go for real trading.
Pros and Cons of Virtual Stock Trading Platform
Although there are multiple benefits of virtual stock trading platform. There are few drawbacks also. Let’s discus pros and cons of using this platform in detail.
Pros of using Virtual Stock Trading
- A platform for learning stock trading in free.
- No requirement of real demat or trading account.
- Instant virtual stock trading via virtual money.
- Risk free way to learn stock trading.
- You can make a mistake and learn from it.
- No training intervention required for using this platform.
- It is a good tool to build confidence in the trader.
Cons of using Virtual Stock Trading
- It is a replica of real-life experience. But, in a few cases simulator environment may not be the same as that of real.
- The trade here can be unrealistic as it is done using virtual money.
- The strategies used in a virtual environment may not work in the real environment due to market conditions and other factors.
5 Best Virtual Trading App and Sites for Stock Trading
#1 Moneybhai
Moneybhai, powered by Moneycontrol, is one of the top virtual trading platforms in India. It provides you with ₹1 crore in virtual cash to experiment with your trading strategies. Sounds pretty sweet, right?
This platform isn’t just about stock trading; you can also dabble in commodities, mutual funds, and bonds. Plus, it hosts contests where you can compete with other traders and climb the leaderboard. It’s not just a learning tool; it’s a way to test your mettle against others.
Who’s it for?
If you’re a beginner or even an intermediate trader looking to get the hang of Indian stock markets, Moneybhai is perfect. It simplifies trading concepts while keeping you engaged with a competitive edge.
#2 NSE Paathshala
The National Stock Exchange (NSE) didn’t just sit back and watch others provide virtual trading platforms—they created their own! NSE Paathshala is as official as it gets, giving you real-time market data to play with.
You don’t even need to sign up to access the basic features, which is a win for anyone looking to dip their toes into trading. However, if you want to personalize your trading journey, creating an account unlocks more features.
Why it stands out
It mimics the exact workings of the Indian stock market, making it ideal for anyone wanting an authentic trading experience. Plus, being backed by the NSE ensures its credibility.
#3 TradingView Paper Trading
You’ve probably heard of TradingView, a global favorite among traders for its robust charting tools and analytical features. But did you know it also has a paper trading feature?
This isn’t just about trading—it’s about honing your technical analysis skills. The platform provides you with powerful tools to analyze stock trends, draw charts, and test strategies in a simulated environment.
Who’s it for?
Technical geeks who love analyzing every blip on a chart. If you’re serious about mastering stock market trends and want a world-class tool to practice trading, this one’s for you.
#4 Zerodha Varsity’s Stock Simulator
Zerodha, one of India’s largest stockbrokers, also offers a unique stock simulator. Integrated with its learning platform, Zerodha Varsity, the stock simulator helps you practice trading while learning the theoretical aspects.
You can explore concepts in real-time, blending education with practical experience. It’s like taking a hands-on class where you can try what you’ve learned instantly.
Who will love it?
Absolute beginners! If you’ve been intimidated by stock trading jargon or complicated platforms, Zerodha Varsity simplifies everything for you while offering a seamless virtual trading experience.
#5 Dalal Street Investment Journal (DSIJ) Stock Market Challenge
The Dalal Street Investment Journal, a household name in Indian trading circles, brings you the Stock Market Challenge. This is where learning meets competition. You get virtual money to invest in stocks, commodities, and other instruments, just like in real markets.
What makes it even more engaging? The leaderboard. Compete with traders across India, earn points, and gain bragging rights as you climb to the top.
Perfect for
Anyone who loves a little competition. If you’re tired of boring practice sessions and want something thrilling, this one ticks all the boxes.
Why Use Virtual Trading Apps?
You might be wondering, “Why should I bother with virtual trading when I can just start trading for real?” Great question! Here’s why –
- Risk-free learning: No actual money is at stake. Make mistakes, learn, and grow without the heartbreak of losing real cash.
- Test strategies: Whether you’ve read about a new trading strategy or come up with one yourself, these platforms let you test them out.
- Get market-savvy: Real-time data and scenarios make these platforms great for understanding how markets move.
- Boost confidence: Starting with virtual trading helps you build the confidence to transition into real trading.
How to Select the Right Platform?
Not all virtual trading platforms are created equal. Here’s how to find the one that suits your needs
- Beginner-friendly or advanced tools? If you’re new, stick to simpler platforms like Moneybhai or Zerodha Varsity. For advanced users, TradingView is unbeatable.
- Specific features: Want to trade more than just stocks? Pick platforms offering a mix of instruments like commodities and mutual funds.
- Interface: A clutter-free, intuitive design goes a long way, especially when you’re still learning.
Over to You –
Do you use the Virtual Trading platform for learning stock market trading?
Virtual trading apps and sites are your sandbox—your place to experiment, fail, and succeed without real consequences. Each platform offers something unique, whether it’s the simplicity of Moneybhai, the authenticity of NSE Paathshala, or the analytical depth of TradingView.
Ready to dive in? Start with one of these platforms, and before you know it, you’ll feel ready to take on the real stock market. Who knows? Today’s virtual trading champ could be tomorrow’s market wizard.
FAQs
1. Can I use virtual trading apps for free?
Yes, most virtual trading platforms, like Moneybhai and NSE Paathshala, are entirely free to use. Some may offer premium features for a fee, but the basic trading experience is usually free.
2. Is virtual trading the same as real trading?
Not exactly. While virtual trading mimics real market conditions, the emotional stakes are lower because you’re not risking real money. This can lead to riskier trades that you might avoid in real life.
3. How accurate are virtual trading apps?
Most apps provide real-time market data, so they’re highly accurate. However, factors like execution speed and brokerage fees aren’t always simulated, so keep that in mind.
4. Can I use virtual trading to learn day trading?
Absolutely! Virtual trading is a great way to practice day trading strategies and get comfortable with fast-paced decision-making.
5. Which virtual trading platform is best for beginners?
Moneybhai and Zerodha Varsity are excellent choices for beginners because of their user-friendly interfaces and educational resources.
Now that you’re armed with this info, what are you waiting for? Happy (virtual) trading!
