Also known as paper trading, virtual trading has been taking bigger leaps by allowing both new and experienced investors to try out various stock trading strategies in a simulated trading environment. As we all know trying your hands on real-world stock trading carries with it some risks, it becomes difficult particularly for new investors to put their hard-earned money into stock markets even after being aware that their money can get lost at any point in time.
This is where virtual trading or paper trading comes into play by enabling users to understand the dynamics of the stock market without facing the risk of losing money. Learning stock trading through virtual trading is very easy as you can easily download the best trading apps in India, register yourself and start trading stocks virtually.
Table of Contents
What is virtual trading?
Virtual trading, also known as paper trading, is a simulation of the stock market that allows individuals, whether they are new or experienced investors, to practice and test various stock trading strategies without using real money. In this simulated environment, users can engage in buying and selling stocks, track market movements, and evaluate the performance of their investment decisions. Virtual trading serves as a risk-free platform where individuals can gain valuable experience and confidence in their trading skills before venturing into actual financial markets.
What does stock trading mean?
It involves purchasing stock in companies that are available for purchase and sale on the open market. People trade stocks for cash in a variety of methods. While some people work to increase the value of their endeavours, others must share in the company’s earnings.
Stock prices fluctuate based on a number of factors. It covers the firm’s performance as well. The state of the economy, as well as public perception of the business.
Online stock trading allows you to swap these commercial components. Some dealers retain them for a considerable amount of time, while others purchase and sell them often.
Top virtual trading platforms to choose in 2024
If you want to learn stock trading in a safer and hassle-free environment, there are several paper trading or virtual trading apps in India that help people in understanding each & every aspect of stock trading.
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Moneybhai
Moneybhai is one of the most successful and widely chosen virtual trading apps in India. The app is managed by Money Control. The best trading app in India offers Rs. 1 crore virtual cash in a portfolio account upon registration with an intraday trading maximum limit of Rs. 1 crore. This virtual money may be used to invest in a variety of asset types, including currencies, equities stocks, derivatives, and commodities.
You may take use of several features and services with the share market app. You may construct limit orders, market orders, GTD orders, short sales orders, GTC orders, and square off using this platform. By succeeding in investing difficulties, Moneybhai can teach you stock trading. This platform allows you to register with your phone number, Facebook ID, or Google ID. All you have to do is register for a new account.
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Trading View
Another popular paper trading app in India is called Trading View. With features like analytical tools, stock charts, and much more, it is actually among the most successful virtual trading applications available.
On this simulated stock trading website, you may sign up for free and begin trading virtually right away. You may select between the Pro, Pro+, and Premium memberships on the share market app once you’ve gained sufficient expertise. Every one of these has a complimentary 30-day trial period.
This virtual trading programme is a must-try for aspiring traders who want to learn how to utilise technical indicators and live candlestick charts to make trades.
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TradingLeagues
Founded by Harsh Agarwal (Founder of AGacquisitions) and Raghu Kumar (Co-Founder of Upstox), TradingLeagues is a simulated stock market game. With this innovative gaming software, a majority of people in India will have a more comfortable introduction to the market while still having the opportunity to practise trading and test methods without suffering significant financial losses.
Presently, the app has over 100 games covering US markets, Indian stocks, and cryptocurrency. After downloading the app, players have a choice of four different game leagues to pick from Battle Leagues, Target Leagues, Selection Leagues, and Classic Leagues. Any user may instantly join TradingLeagues and play a game with free ₹50 sign-up credits. The software provides games with different time limits, winning features, and rewards.
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TrakInvest
A global trading platform called TrakInvest aids in the development and enhancement of your investment abilities. It now offers news and market data that has been hand-picked from ten exchanges. In addition, it provides videos and beginner’s instructions, industry expert-designed certification courses and reward-competition scenarios.
With TrakInvest, you may use the “Copy Trade” feature to duplicate other traders’ deals by tracking them and delving further into their trading activity. All things considered, TrakInvest offers inexperienced investors a user-friendly and straightforward platform for “Social” virtual trading.
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Dalal Street
Dalal Street is counted among the top virtual trading apps in India. The app has been designed keeping in mind the dynamic stock trading needs of individuals in today’s scenario. Formally known as Dalal Street Investment Journal (DSIJ), this virtual trading platform in India helps investors understand the different trading nuances and give their investment strategies a try.
The virtual trading platform has been designed in such a way that it gives a real-world trading experience to users. All types of stock investors can learn the nuances and try out various types of investment strategies. The platform provides a virtual currency of Rs. 10, 00, 000 that you can use for investment.
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StockPe
With StockPe, users may practise trading in a variety of financial assets, including stocks, without having to risk any of their own money. For traders of all skill levels, it’s a great chance to experiment with new strategies without having to lose money.
A variety of tools are available to users of virtual trading platforms such as StockPe to aid in market analysis and decision-making. News feeds, economic calendars, technical indicators, and charting tools are some of these resources.
The portfolio monitoring and reporting features of this software let users keep tabs on their development and assess their accomplishments. On the app’s leaderboards, they may pit themselves against other traders and share their transactions on social media.
Anyone interested in trading may learn and improve their abilities with StockPe without having to risk any real money. It gives users a risk-free environment in which to practise and hone their abilities before utilising real money to participate in the markets. A virtual balance is provided to StockPe users so they may purchase and sell equities.
The Conclusion
If you want to get a deeper understanding of stock markets, trying out virtual trading is a wonderful way of knowing each & every aspect of stock trading. There are several virtual trading platforms available in India that promise to deliver an unmatched virtual trading experience to their users. If you want to learn stock trading the best way, it is recommended to count on the best paper trading app in India that contains a host of features for making virtual trading a smoother affair.