A virtual Indian stock market simulator is a place where you can exchange equities that reflect future events.
Market prices are a forecasting tool because they reflect the collective expectations of participants.
Virtual stock trading, often known as paper trading, is comparable to real-world stock trading in that it allows you to purchase and sell equities.
There is, however, no actual money involved in this game. You only invest in fictitious cash.
Stock simulators are platforms that allow users to engage in virtual trading. Virtual Stocks is a stock market simulator with all of the functionality of a real stock exchange.
Stock simulators give real-time stock data, allowing you to test various stock trading methods in a risk-free environment.
How does a virtual stock trading platform work?
Using a stock simulator to undertake virtual stock trading is a relatively simple process. To begin virtual stock trading in India, follow these steps.
You create a virtual trading account or download an app.
Then, to begin, log into the account and deposit some virtual money, such as one lakh or ten lakhs.
Then, much like in real life, you may begin buying and selling different stocks.
You can trade in different ways and track your earnings and losses over time in this way.
You'll learn how to trade stocks in the coming weeks, and you'll be able to track your progress.
When you're sure of your abilities, you can open a real trading account and start trading stocks with real money.
Pros and Cons of using a virtual trading platform
There are numerous benefits to using virtual trading platforms, particularly for beginners, but there are a few drawbacks.
Pros:
- There is no need to open a trading account or complete any paperwork.
- Real-time market simulations allow you to experiment with alternative tactics while also learning the fundamentals.
- To start virtual trading simulator India, no actual money is necessary.
- It's fine to make errors and take chances because there's no real risk.
- Trading without risk is a good thing to do.
Cons:
- As no real money is involved, there is no emotional attachment. Because winning and losing virtual money isn't really interesting.
- The real-world trading environment may differ slightly from the virtual one.
- Participants in virtual trading platforms incur greater risks and wagers than they would in a real-world setting.
- You could rapidly become bored.
In this guide, we ranked and reviewed the 8+ Indian stock market simulator, along with our top 3 choices, so that you can pick the best one for you.
Trading View
(Best paper trading)
Overall Rating: 4/5
Trading View is a paper trading simulator that is not affiliated with any broker. Users who want to learn more about the real stock market scenario can upgrade to the pro edition of this simulator.
TrakInvest
(Best Copy Trade)
Overall Rating: 3/5
TrakInvest is a well-known virtual stock trading website and app that can assist you in honing your skills and developing techniques for prudently investing in the stock market.
Dalal Street
(Best stock exchange)
Overall Rating: 5/5
Dalal Street, like Wall Street in the United States, has become a symbol for the whole Indian financial sector.
It's the site of a major stock exchange where significant sums of money change hands every day.
Best sites to Learn indian stock market simulator
Want to jump straight to my top picks? My favorite is Trading View and TrakInvest.
1. Trading View
Trading View is a best paper trading app India that is not affiliated with any broker.
Users who want to learn more about the real stock market scenario can upgrade to the pro edition of this simulator.
When you complete the registration process and set up your account, you will receive Rs. 1 lakh in virtual cash, which you may use to purchase stocks, bonds, FDs, dividends, and other financial instruments.
Features
2. TrakInvest
TrakInvest is a well-known virtual stock trading website and app that can assist you in honing your skills and developing techniques for prudently investing in the stock market.
It's a global trading platform that pulls data from ten different exchanges and curates it.
This platform also has a tracer feature, which allows all users to follow the progress of other traders. TrakInvest has a user-friendly UI.
It is interwoven with multiple alternatives where users may view introductory instructions and videos, compete for incentives, and take certification courses established by industry professionals, all of which assist you in improving your market skills.
Using the 'Copy Trade' feature, you can also duplicate their trades. In 2013, Bobby Bhatia established Trakinvest. You will be given 50 lakhs of virtual money to undertake paper trading once you establish a virtual account with Trakinvest.
Features
3. Dalal Street
The Bombay stock market simulator India and other financial organizations are located on Dalal Street in Mumbai, India.
Dalal Street, like Wall Street in the United States, has become a symbol for the whole Indian financial sector.
It's the site of a major stock exchange where significant sums of money change hands every day.
It was one of Asia's first exchanges to handle latency in the electronic trading age.
The media will report Dalal Street upheaval or growth on days when the Indian stock market ends lower or higher than the previous day.
Every fortnight, the Dalal Street Investment Journal, India’s No. 1 equities research and capital investment publication, publishes to meet the demands of its reader-investors.
The fortnightly magazine, which is backed by a team of carefully selected experts on markets and corporate India, focuses on stock market research and recommendations, capital market analysis, personal finance investment advice, and analysis of various economic activities in the country's impact on Indian share markets.
Features
4. Moneybhai
Moneybhai is a free virtual trading platform that provides members with Rs.1 crore in virtual cash upon registration.
This website teaches you the foundations of the stock market, and you may use your virtual money to trade in commodities, stocks, fixed deposits, mutual funds, bonds, and other securities.
The virtual trade market charges a 0.50 %brokerage fee when you buy any commodity or investment.
This is one of the reasons why Moneybhai is regarded as the best virtual trading app for stock trading in India, as brokerage charges must be paid even in the real stock market. CA Chirag Thakkar established it in July of 2018.
The investment stimulation platform targets freshly turned investors in the age group of 18-34, intending to instil the quality of risk-taking and advocate the ability to study finance.
It will simulate the experience of using a real online brokerage account by utilizing real data from stock markets.
Every player would receive Rs 1 crore in virtual money in their portfolio account as part of Moneybhai's operation, with a daily trading limit of Rs 1 crore.
Features
5. Money Pot
Money pot is another of the best virtual trading simulators for the Indian stock market, allowing traders, students, and even organizations to understand stock market technical.
The money pot is a social trading platform that aims to bring together a global trading community online.
It's an online stock market simulation game that's both entertaining and informative.
During the game, the participants' portfolios are compared to those of other players in real-time, and
the victors are those who have the best returns in comparison to the other players at the end of the game.
Cash rewards are available for the top Traders. One of the most appealing features of the Money pot virtual trading platform is how simple it is to sign up and register.
Features
6. Chart Mantra
Economic Times owns Chart Mantra, a virtual stock trading tool that has aided several students, businesses, and investors.
This website has a simple sign-up process because it accepts Facebook or Google ID.
When you sign up, your Chart Mantra account will be credited with Rs. 1 lakh in virtual cash, which you may use to buy commodities, stocks, bonds, and other financial instruments.
This game allows you to understand the fundamentals of technical analysis, which are necessary for stock trading. When you enter the real stock market, you can put everything you've learned to good use.
Economic Times' Chart Mantra is a free stock simulator game with an analytical platform. It is one of the most popular trade games.
Features
7. Wall Street Survivor
Wall Street Survivor is a popular stock trading game that may teach you more than just the fundamentals of the stock simulator India.
The virtual stock trading platform is based on New York City's famed financial center and offers a realistic experience.
The software is up to date and does not believe in the theoretical concept of teaching; instead, it provides its users with a hands-on experience that not only helps them learn better but also faster.
As the proprietors of Wall Street Survivor believe, investing is more of a fun, demanding, and lucrative hobby when all external aspects are taken into account.
Features
8. Market watch
Market Watch is another fantastic paper trading program that teaches you the fundamentals of the stock market while simultaneously providing you with a real-time experience.
Players can develop their portfolios and participate in real-time markets to climb the leaderboards.
Larry Kramer and Thom Calandra established it in 1997.
This virtual stock trading game will teach you everything you need to know about stock market basics, which will come in handy if you wish to trade stocks in the United States or abroad.
You'll have a better understanding of all the crucial variables you need to know before buying and selling stocks with real money after a few days of utilizing this platform.
Features
Conclusion
With the assistance of all of these effective Indian stock market simulator, learning about the real stock market becomes a joyful and engaging hobby for you. Unlike books, stock stimulators assist you in learning through the display of practical tutorials.
Nothing beats the brilliant idea of reducing your risk before entering the real-world stock market by learning and practising trading with all of the platforms described above.
Frequently asked questions (FAQs)
Q1. What is the best stock market simulator in India?
Paper trading is a different name for virtual stock trading. Because it involves buying and selling stocks, it is similar to actual trading.
The caveat is that the investment is done with virtual money, so no real money is involved. Moneybhai, Dalal Street and TrackInvest are some of the best market simulators in India.
Q2. Is there an app to practice stock trading?
Some of the greatest virtual trading apps in India are TradingView, TrakInvest, Dalal Street, and Money Pot. Aside from that, there are websites like Moneybhai by Moneycontrol, Investopedia Stock Simulator, and Market Watch Virtual Stock Exchange that are ideal for virtual trading.
Finally, after you feel comfortable, you can open a Demat and trading account and begin trading online in India.
Q3. Can we practice stock trading with free money?
Yes, without using virtual stock trading, we can practice stock trading. Virtual stock trading, often known as paper trading, is similar to real-world stock trading in that it allows you to buy and sell stocks.
This game, however, does not involve any real money. You simply put your money into a virtual account. Stock simulators are tools that allow you to trade stocks virtually.
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