What Is Virtual Stock Trading?
Trading is a challenging profession. Not everyone who starts trading turns out to be successful and profitable from the get go. Numerous initial hiccups and obstacles need to be overcome. Therefore, before taking the plunge in real trading, with real money, it is advisable to explore the trading world through the virtual, demo, or even CFD accounts in certain cases.
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- Virtual Stock Trading: Virtual stock trading, also known as paper trading, is a simulation in which aspiring traders practice trading as if they are actually trading. The catch is that it does not involve real money and the real market. Virtual stock trading is often practiced in the form of apps and games where traders open a virtual trading account, load virtual money, buy and sell virtual stocks, and make virtual profits and losses. See, everything is virtual, and nothing is real. Once traders are confident in their trading skills, they can move on to real trading with real money in real markets.
- Demo Account Trading: Demo account trading is a modern form of simulated trading. It allows new traders to trade on real platforms with virtual money. Traders get the opportunity to use the software and understand it, and yet not lose real money in the process. Demo trading gives traders a general idea of how the market, platform, and trading works.
CFD Account Trading: CFD trading or Contract for Difference is sometimes considered a more simple form of trading. It does not involve buying or selling the underlying asset; instead, traders buy or sell a specific number of units for an instrument depending on if they think the prices will go up or down. CFD account trading ensures that traders are not exposed to market conditions in full and they can trade on a high margin. In some cases, it means lower fees and easier buying steps.
Virtual Stock Trading Simulator
Tradenet offers a virtual stock trading simulator to aspiring traders. They can use the simulator to know how to trade and to understand how the trading platform and the market functions.
While using the virtual stock trading simulator, traders can also access Tradenet’s live trading room to observe how skilled top traders trade. New traders don’t just watch, but also interact with top analysts to get a more precise and better understanding of each trade and each move. They can also mirror trades of experienced traders and gain access to live education and trading support.
Once aspiring traders feel ready and prepared, they can start with the 5-day demo challenge offered by Tradenet. The demo account comes with a trading balance of $10,000, and the goal is to reach a net profit of $500 at the end of the challenge. Watch this video for more details on the demo challenge.
Traders who win the Tradenet 5-day demo challenge, while fulfilling the mentioned requirements, win a live funded prize-account of $14,000 value.
Best Virtual Stock Trading Platform
Tradenet is one of the world’s leading trading academy. In addition to the education packages, Tradenet also offers practical learning to its students. Students who have already learned through self-study courses, training videos, and interactive sessions can take the next step by applying for the demo challenge.
The 5-day demo challenge of Tradenet allows new traders to understand the practical aspects of trading. It also gives them a fantastic opportunity to access the live trading room, watch top traders trade, and learn. The demo challenge also comes with an unparalleled reward. If traders can prove their skills and mettle by winning the demo challenge, they get to trade with other people’s money in the form of a $14,000 live funded account with up to 70% profit split.
As a bottom line, virtual stock trading accounts simulate the market conditions for new traders to learn from; however demo challenges offer much more. Along with allowing traders to practice on the trading platforms and real markets with virtual money, winning the challenge comes with a big reward. Traders who succeed in proving their trading skills and knowledge end up getting a live funded account.
So, don’t miss the opportunity to learn, practice, win, and trade through Tradenet’s education packages, live trading room, and demo challenge and become eligible to apply for a funded account.