Investopedia is a great website for people that are just getting into investing or even for expert investors who are looking to learn something new. Their website is filled with a ton of articles and definitions of various types of investment tools and terms. It is a great source of knowledge for an investor at any level. They also have a stock simulator that allows you to invest fake money against real market values. This way you can try out investing without losing any of your own money.
The first thing you have to do is make a free account at Investopedia.com. To sign up, just go to the top right corner of the homepage and look for the image of half a person. You could also just follow this link here: Investopedia Login. Once you are signed in, you’ll have access to tons of information and market trends that you can browse through. To get started with the stock simulator, you will have to click the simulator tab in the top menu on the homepage or use this link here: Investopedia Games. Once you’re at the simulator, you can join a game for the opportunity to invest in a real market with simulated money and see how you would rank against your peers.
The Investopedia simulator is really easy to use and provides a great learning experience for beginners. Each of the games you can choose from different learning levels and match your experience level with those of the players involved in the simulation. It’s cool to see how you rank among people in your experience level. It will also show you your performance in comparison to the S&P 500.
Using the simulator could also be a good place to practice things that you normally wouldn’t do with your current investment techniques. You could try puts, calls, options, and shorts if you don’t already do them currently. You may even change up your current style (like day trade or hold for the long term) and compare it to what you’re doing in your current portfolio or retirement account.
Each match has different rules and each experience level has their own games to join. One problem I have found with the system is that it can lag behind the market a bit, which might make it hard for someone day trading and tracking the market in real time. I’ve also noticed that if you buy a stock and that company goes under, the value of that stock doesn’t go to zero. Instead, it goes to the value you had paid for it. No stock simulator is perfect, but those are the few little problems I’ve had with it.
Overall, I really like this stock simulation platform and would suggest it to anyone looking to learn how to trade or looking to try out something new. I think it’s perfect for people who might be looking to change their investment style or technique. Just know that, like anything else, there are some system setbacks. I think that you will overall find that it’s a great tool for learning and playing against peers if you’re competitive. So, what are you waiting for? Go check out Investopedia!
Try out the simulator and tell me what you think! Invite me to a game – I’d love to get to join in with my readers. If I get enough feedback, I will start a Better Financial Inspiration game on Investopedia.