Virtual Trading or Paper Trading is quite useful for beginners entering the stock market. As the name suggests, virtual trading allows to trade on real markets but only using virtual money. It’s a good way to boost your confidence before entering the market with real money. Even veteran traders use paper trading to test their trading strategies in live market condition. The intent of this post is to introduce some of the most popular Virtual Trading Platforms in India . The best thing about these virtual trading platforms is the fact that they are free of cost, so you won’t lose a single penny even if your strategy fails. And surprisingly, some of these offer rewards too if you consistently perform in your trading.
Best Virtual Trading Platforms in India
Check out our reviews on the best 3 virtual trading platforms in India below:
NSE PAATHSHALA is a free virtual trading and investment interface offered by National Stock Exchange of India. To access NSE PAATHSHALA you just need to open a free account at their website, where you would have access to real-time data for all the scrips traded at NSE. The interface is very similar to Nest Interface, so you would have a real experience of trading if you are a absolute beginner. All the order placed would be executed at prices of live market. Initially you would be given 20 Lakhs to play around with, not bad right? From NSE PAATHSHALA you can invest in Stocks, F&O and CDS. We would recommend NSE PAATHSHALA to all the beginners due to its similarity with Nest Interface and accuracy of prices.
Moneybhai from Moneycontrol
Moneybhai from Moneycontrol offers 1 Crore virtual cash for investing in shares, commodities, mutual funds, or fixed deposits. It is a virtual Stock Trading game where you would also be rewarded based on your performance and final corpus. All the services are free with no hidden conditions. There are also tutorials in the website which would help to get upto speed on trading and investment terminologies. You can create a trading league to compete against other players. The website has a very modern interface and used by millions of traders across India. Moneycontrol is already a reputed website already reviewed in our article Top 5 Stock Market Apps for your smartphone.
ChartMantra from Economic Times
ChartMantra is a gaming cum learning platform for Technical Analysis. In this virtual game, you can learn the basics of technical analysis and apply it on historic markets. The accuracy of your buy/sell decisions would give you a rank among other players. You would be given an initial corpus of 1 lakh rupees and the objective of the game is to make as much as money you can and go to the top of rank. You would be give historic charts based on EOD data and you have to apply the principles of technical analysis to make buy/sell decisions. All transactions involve a brokerage cost of 0.1% which makes this game more realistic. You can also specify your stop loss just like the real trading. ChartMantra is really very useful for all technical analysis enthusiasts.
There are many other virtual trading platforms in India but we recommend to give a try to the above 3 first as they are most authentic and popular. It’s very important to have an accurate simulator so that your virtual trading efforts doesn’t go in vain. But please do remember that there is hell lot of difference between paper trading and real trading, as in paper trading you have nothing to lose. In real trading, there are psychological emotions involved which needs to be controlled for long term success. May be we’ll publish another article on the emotional aspects of trading. Till then good luck with your trading journey!