19th August 2016 at 8:45am
Would you like to unleash your inner Wolf of Wall Street?
App developers are now giving you that power by focussing on the trading floor to build addictive games offering you the chance to trade with virtual money.
Developers are realising that games are played by all kinds of people with different desires and motivations. And money can be a big motivator.
“The same kind of person who is hooked on a computer video game may seek a similar thrill from the stock market,” Kam Star, the founder and managing director at games development studio PlayGen recently told Reuters.
So if the idea of shouting “buy…buy” or “sell…sell” at your mobile device appeals, then here are five apps recently reviewed by Mirror that hold the potential to turn you into a virtual Gordon Gekko.
Available on both iOS and Android, this app sets you up with 1,000 Bux and sets you loose to trade on a host of well-known companies like Amazon and Facebook.
The app takes its data from the real-work performance of shares on the market. If you get really comfortable with it, you can make the transition to real-world cash.
Explaining itself as using “basic video game mechanics to develop an easy, user-friendly interface that rewards you as you learn to invest”, this app lets you practice with virtual money before trying the real thing.
Like any good gaming app, it’s also social – giving you the chance to show off your trading portfolio to others. There’s even a monthly competition that lets you compete for real cash.
One for the more serious enthusiast, this app does away with fancy colours in favour of stark data. It lets you create and manage a virtual portfolio and place real-time orders.
There’s plenty of detail to dig into, including analysing your purchase history, dividends and the distributions of your holdings. You can create personal trading groups to compete with friends.
Stock Market Simulator plus
Available on the Amazon Appstore for Kindle tablets and the Google Play store, this app credits you with $50,000 in virtual cash and invites you to take over the market.
Like real markets, it will close when trading is done for the day.
Along with placing virtual bets on the stock market, this app also offers a news feed of the latest financial information as well as social forums relating to certain stocks.
It’s free to play on both iOS and Android, but much of the additional information requires you to pay extra.
While many of these apps will let you start trading on a real world platform, we’d always encourage caution before embarking down this route. First and foremost, they should be seen as a fun introduction to trading, it’s one thing making a killing on the virtual stock market but a whole different kettle of fish losing your shirt on the real one.
The stock market is intimidating. The inherent risks are often enough to put many people off. Fortunately, now through these innovative new apps you can try before you play, or even play before you try – welcome to Wall Street!
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