This is a comprehensive guide on the best stock market simulator apps in 2023.
Stock investments were a hectic thing a year ago because they only interested the wealthy due to the capital required and the high risk.
However, thanks to the creation of stock market simulator apps, the capital required to invest in the stock market have been reduced considerably.
Stock market simulator apps are essentially stock market games, but it runs on virtual money. Because there is no money involved, it is a great option to practice trading to get ready for the real world. And well, it’s also a great option to kill time.
Beginners and experts alike can use these stock market simulator apps to become more familiar with the stock market before risking their hard-earned money.
In this article, we review the best stock market simulator app available for Android and iOS.
What Is A Stock Market Simulator?
Stock Market Simulator allows novice investors to simulate the stock market experience by buying stocks and assets with fake cash.
With $100,000 in pretend capital, you can build a portfolio and test strategies without taking on any real risk.
Want to see how different strategies work together? You might not be willing to take the risk if your own money is a stake.
If it’s Monopoly money, though, you’ll be more inclined to explore, take chances and learn from mistakes if your trades go wrong.
The goal of paper trading is to improve. You’ll learn to better identify chart patterns and trends and you might even feel a little pang of pain when one of your pretend trades blows up.
Some paper trading platforms are connected to online brokerages, which means you need a real trading account to dabble in fake money.
But most stock market simulator apps can simply be downloaded and “funded” instantly and trading begins whenever the market opens.
How Much Does It Cost To Start Trading Stocks?
There’s no official minimum amount of money you need to start buying stocks.
Some brokerages have minimum required deposits, but many online brokerages have none.
Those let you buy in with as little as a few dollars, purchasing fractional shares of stocks instead of full shares.
If you want to buy a full share of a specific stock, the minimum amount you’ll need to get started is the cost of that stock — which varies widely across companies.
To ensure a diversified portfolio, we often suggest buying a minimum of 10 stocks, so that would put your minimum investment at the cost of those 10 stocks plus any commissions and fees paid to your brokerage.
What Investments Can You Buy With Free Trading Apps?
The free trading apps listed here will let you buy stocks, but the actual investment universe available depends on the particular app.
For example, some of the apps allow trading in over-the-counter (OTC) stocks, while others don’t. Some allow you to buy stocks directly on foreign stock markets in addition to U.S. exchanges.
And some offer the ability to buy and sell options and mutual funds, while others are limited to only stock trading.
In addition, some of these apps offer automated investing or robo-advisory services, which essentially create and maintain an investment portfolio for you.
The bottom line is that investment selection varies from one trading app to another and should certainly be a factor when deciding which to use.
20 Best Stock Market Simulator Apps In 2022
1. Stock Trainer
As beginners, you learn the rudiment and fundamentals of the stock market with its real-life world market data.
While for experts, you gain more experience and improve or devise a new trading strategy using the stock trainer.
Some features present in the stock trainer simulator app are stop loss and limit orders, portfolio and watch list management, stock charts dating back to 10 years, stock news, and others.
As a beginner in the stock market, it is ideal you learn and practice and as well gain knowledge about the newly listed stock you might be interested in, using virtual trading before investing your money. In essence, always test before investing.
2. Best Broker
Best broker app doesn’t only work for real-time stocks but also on other digital currencies like Bitcoin, Peercoin, and even Dogecoin.
With a Best broker, you can trade over 50,000 real-time stocks which are updated every minute and this enhances your knowledge about the stock market.
You can also connect with other users and friends to exchange insider information about the capital market that will give you an edge in your stock investment.
Other tools such as limits and stop orders help you to get the best using this stock market simulator app.
3. Investing Game
Investing game app is ideal and suitable for beginners as it explains in detail everything about stocks that boost and build your confidence.
Aside from stock, you will also learn about the forex market, participate in exchange rates and analyze market signals and thus increasing your finance and savings.
4. Stock Exchange Game
Unlike other stock market simulator app that requires an internet connection, the Stock exchange game works both online and offline and its quotes are based on thousands of world events.
Stock exchange game is easy and free without registration and is well immersed with real data, making it difficult to just guess price fluctuation without precise analytical knowledge which will be gotten by regular practice using the Stock exchange game app.
5. Stock Investing Simulator
With the Stock Investing Simulation, you receive simple guides and strategies to trade the forex stock market quickly and easily and become a master as a financial market analyst.
Some of the stocks that are traded in the stock investing simulator are Gazprom, Severstal, Lukoil, Sberbank and other global companies’ stock.
Using the stock investing simulator, you enhance your knowledge of the stock market and as well test new strategies without risking or losing your real money.
TradeStation app enables you to trade stocks, ETFs, options, futures, and crypto.
Other trading features present in the TradeStation app enable you to track your positions, orders, and balance, earn interest, initiate transfers, and enjoy commission.
Several analytical tools such as graph candlestick, dozens of indicators, and automatic notifications on position opened, all at the palm of your hand.
Rapunzel organizes fantasy stock competitions giving you $10,000 to build a real-time stock portfolio. It gives you an opportunity to earn while learning to invest without any risk or hidden costs.
Rapunzel Investing App makes you a wall street investor taking charge of their personal finances without risking your simulated stock portfolio.
The app is perfect for beginners investors, part-time day traders, and full-time finance professionals.
8. Wall Street Magnate
Wall Street magnate uses the real-world financial information and current data from major US stock exchanges. You can trade stock listed in the NYSE, NASDAQ, and AMEX with $10,000 simulated cash.
Wall Street Magnate has been one of the best stock market simulator app uses the latest trading technology for buying and selling stock, gives financial news and enable instant messaging. It gives a real trading experience and best of all is that it is free to download and use.
The StocktoTrade simulating app is a stock charting platform created by several traders to help other upcoming and experienced traders in gaining more knowledge about the stock market.
The StocktoTrade has a wide range of research tools that provide profitable techniques intended to assist traders to be more efficient in their trading decision as financial markets analysts.
Ameritrade is an IOS stock market simulator in operation for over 40 years which has helped in growing and improving the online trading experience for self-directed investors through its trading tools and software that are intuitive and innovative. It also provides educational webcast and lives chat broadcast that is simple and straightforward in teaching how to price investment products and services with insightful analysis and commentary. Being one of the oldest and largest stock market simulators having over 11 million clients with about 500,000 trades each day makes it possible to maintain its leadership position as one of the top-rated stock market simulators.
11. BUX Mobile Trading
BUX is a top-rated mobile trading app. You can create and manage your portfolio seamlessly to analyze the real-time market. Moreover, you can start trading with a free demo account, switch to a real money account, and start trading from 50 euros. Above all, the transaction fee is as low as just 25p, which is great, especially for beginners.
It is a great Stock Market Simulator app that helps you understand the Stock Market movements. No internet connection and registration are required; you can download this app and start enjoying the Stock Market simulation. The best part is that it simulates many world events, which helps you get a better experience of the market fluctuations.
Trade Hero is another top-rated app. It has a simple user interface that helps you understand and analyze the market with more ease. You can practice trading with its virtual mode and later move on with a real money account. You can start with small investments from 50 US dollars and experience a complete commission-free platform.
14. Bitcoin Flip
Well, the Bitcoin Flip Simulator has already earned good popularity in the market. You can enjoy learning about cryptocurrency in a much better and more fun way with this app. You can buy and sell currencies without investing any real money and also learn different trading strategies.
15. Forex Trading For Beginners
As the name says, Forex Trading For Beginners is a perfect platform to make a start. The app offers a user-friendly interface and provides super easy explanations and tips related to fx trading. In addition, it lays a fun way of learning trading strategies using several illustrations and quiz games.
Moreover, the newer version holds 2X more questions, enriches fx basics, trading-related games, etc. Develop other skills in bitcoin trading through interactive methods and master the art of currency exchange and trading.
16. The Game Of Stocks
This is a USA-based Stock Market Simulator game. The stocks game is an effective way to learn trading-related tips and tricks and multiply your wealth. It helps you quickly understand the strategies to make wise investments and become the king of Stock Market trading.
Also, some of its highlighted features include Statistics, real-price quotes, and stock companies. So buy and sell stocks and earn a good profit from the comfort of your home.
TradeStation is one of the most trusted brokerages in the world and it offers advanced trading on a customizable desktop or mobile platform. TradeStation is geared toward active traders and charges a $99 monthly fee on accounts that don’t trade 5,000 shares or 50 options contracts each quarter. It’s an expensive platform, but you can test it out for free by signing up for a paper trading account.
TradeStation’s simulator is complete with research tools, stock chart indicators and access to the community forums, where you can exchange ideas with other traders. Brokerage account holders can jump back and forth between real and paper trading on both the desktop and mobile apps.
18. Warrior Trading
Warrior Trading’s stock market simulator comes from a direct collaboration with NYSE and NASDAQ to give traders access to Level 2 Quotes. To help you nail down your strategy, Warrior Trading has worked to simulate reality as close as possible. You will be working in real-time conditions with the only simulated part of the tradings being the currency used.
To start off your practice, Warrior Trading is giving new investors a virtual currency of $200,000. You will also get access to advanced reporting metrics to help monitor your performance and analyze your moves. With Warrior Trading’s simulator, you will see how your trades would do in the current market conditions, as opposed to relying on historical data of past stock trades.
The simulator does come with a monthly fee, but new traders can get $100 off with their current promotion and start with $200,000 of virtual currency to trade.
At Moomoo, you can partake in paper trading at any time. This form of investment offers you a demo account. The demo account functions just like a normal account would, but you are not risking your money.
Click on “Open Account” and choose “Paper Trading” to set up your demo experience. With this type of account, you can easily see how the market affects your investments and if you are making or losing money. Study, practice and learn before investing your hard-earned cash in a live account.
With Moomoo, you can paper trade on the Hong Kong, U.S. and A-share markets.
20. Thinkorswim by TD Ameritrade
You don’t need a brokerage account with TD Ameritrade to sign up for thinkorswim. Just register with an email address and open up the platform, which contains some of the most advanced trading tools an investor can find.
You’ll get customizable stock charts to not only track securities, but commodities such as gold, oil and natural gas. The pairs trader allows you to try out long/short strategies and there are scanners for stocks, currencies, options and futures contracts. The scanners are completely customizable as well, allowing users to search for top gaining (or losing) small-cap by exchange or sectors.
Thinkorswim is undoubtedly the most sophisticated stock market simulator available today and it’s highly recommended for all new investors.
Frequently Asked Questions On Stock Market Simulator Apps
Below are some frequently asked questions about Stock Market Simulator Apps:
What Is The Best Stock Market Simulator App For Beginner Investors?
There’s no such thing as the best investment app for every investor. Free stock market simulator apps are great for beginner investors. These types of apps are easy to use, convenient, and offer a wide-range of products. Beginner investors should first choose which features are most important to them. Here are some factors to consider:
- Commission-free stock trading and low fees
- Wide-range of investment products, such as stocks, ETFs, mutual funds, options, and cryptocurrency
- User-friendly trading platform and sophisticated trading tools
- Access to stock research and educational tools
What Should I Look For In A Stock Market Simulator App?
When looking for a stock market simulator app, you should find one with low account and trading fees, wide-range of investment products, investment research and educational tools. You shmaould also look for a trading app that has a trading platform that best suits your trading style.
How Do You Practice Trading Stock?
A stock market simulator allows you to practice trading and test your strategy with hypothetical money.
How Do I Practice Using Hypothetical Money?
Hypothetical money means you use imaginary funds to build and test your trading strategies.
Are Stock Trading Apps Safe?
Yes! Most stock market simulator apps are offered by large investment brokerage companies, which offer secure investing tools. You should look for an app that has up-to-date security features, and are members of the Securities Investor Protection Corporation (SIPC). The SIPC protects up to $500,000, including up to $250,000 in cash, if the brokerage firm fails.
Trading is risky and therefore having good knowledge before investing your hard-earned income is advisable so that you can reduce the risk of losing it all. The listed stock market simulator applications are unique and will work on both Android and IOS giving you a greater selection of options that are compatible with your device.