If you are looking to make some money on the stock market, one of the best ways to learn is through the use of a stock market simulator. With such software, you have the ability to test different trades and strategies so that you can feel confident before you start trading for real. This is one of the best ways for new traders to get used to the stock market and the mechanics of it. Whether you’re embracing social trading or you’re going alone, testing strategies makes a lot of sense. But which stock market simulators are the best? We will take a look at four effective options.
- Thinkorswim by TD Ameritrade – One of the good things about thinkorswim is that you won’t need a brokerage account with TD Ameritrade to sign up. Simply use your email to register, and then you can start using some of the most advanced trading tools out there for investors today. You get stock charts that are customizable so you can track securities, as well as commodities like natural gas, oil, and gold. This is definitely the most advanced stock market stimulator that you will find available, and so it is only right that it is the number one choice.
- Ziggma – Designed to make investment as easy as possible, Ziggma is the next-gen investment mangement platform. It is the first platform that is completely focused on helping in investors to manage their portfolios effectively. The simulator is one of the tools that you will get as port of the service, helping you to opimize your portfolio effectively. After you have linked your investment portfolio, you will be able to see how a contemplated transaction will impact your portfolio, which is one of the great features that has made this so well-liked.
- Bear Bull Traders Simulator – Day trading education is the primary focus of Bear Bull Traders. The real-simulation in their platform, DAS Trader Pro, is a vitla part of this. Members can get training and supported so that they can get started, as well as there being downloads for layout configuration so that you can enjoy a quick jumpstart. You will also get a number of different resources on customising the platform to suit your own trading style and setup. There are also classes for both beginner and advanced users, so you can make the most of these too.
- TradeStation – Finally, we end with one of the world’s most trusted brokerages, which offers advanced trading on a mobile or desktop platform. This is fully customizable. It is important to note that this is only a wise choice if you are an active trader. If you do not trade 50 options contracts or 5,000 shares per quarter, you will be subject to a monthly fee of $99, so it is vital that you keep this in mind. A good element, though, is the paper trading account, which you can use free of charge to test it all out. The simulator comes with stock charts indicators, research tools,
To conclude, using a stock market simulator is a good way for you to get used to trading and trying out different strategies so that you can make a profit and understand how you will act in certain situations.