Best Stock Simulators You Should Try in 2022
A simulator is a trading software that allows investors with varying experience to trade stocks without cash. The experts at SoFi recommend that beginners use it to get acquainted with the stock market and professionals to test their strategies. Here are the top simulators for 2022.
Practice Your Skills with Moomoo
Moomoo is a simulator owned by Futu INC regulated by the U.S. Security Exchange Commission. One of its advantages is easy to set up, a crucial factor for beginners venturing into paper trading. The simulator is digital and user-friendly.
The demo account has enough analytical tools for both beginners and seasoned traders. The demo includes drawing tools to identify trends and patterns. The downside is that it has limited educational materials like webinars and eBooks compared to alternatives.
One advantage of Moomoo is access to international trading. You can test and trade Hong Kong, U.S., and A-share markets through the simulator. Moomoo has no inactivity or withdrawal fees, making it ideal for beginners.
eToro: Established Platform for Crypto Trading
eToro is another platform operating from Tel Aviv and registered in the UK, Australia, China, and Cyprus. It is a trusted simulator from a company with 15 years of industry experience.
eToro allows you to trade in stocks, ETFs, CFD, and cryptocurrencies. It has a minimum of $25 for cryptocurrencies and a $200 requirement for copy trading.
It is a valuable tool for professional traders searching for a stable cryptocurrency platform. You can also trade in commodities like wheat, gold, silver, or natural gas. Withdrawal can be by debit card, credit card, wire transfer, or SoFi bank account.
Capital.com: AI Trading with Personalized Analytics
Capital.com is a simulator regulated in Belarus, Cyprus, Australia, and the United Kingdom. You can open a demo account with $1000 in virtual funds. Its 'learn to trade' tab has numerous educational materials beginners can use to trade.
You can explore a wide range of ETFs, CTDs, and cryptocurrencies on the simulator. Capital.com boasts of being the first AI-powered mobile trading platform. It can provide insights on more than 75 market indicators.
Capital.com is an easy-to-use platform for investors at different skill levels. The mobile app gives access to useful features, including AI analytics for copy trading.
Libertex: Versatile and Simple to Use
Libertex is a simulator available as a web platform or mobile app. In a few minutes, you can open your account and start trading stocks, metals, cryptocurrencies, forex, and raw materials.
The broker allocates users $50,000 in virtual currencies after opening an account. Libertex also offers access to a wide range of markets. The simulator has 200 assets across multiple platforms.
The platform has quality educational materials, attractive commissions, and free deposits for your account. You can qualify for a professional account depending on your trading activity.
The simulator fees can vary depending on the platform and method of withdrawal. On most platforms, your payments may take several days when using a debit or credit card. But you can reduce the charges by using a SoFi bank account to withdraw your earnings.