Not everyone has the means, or the risk appetite, to start trading without any prior experience. Virtual trading platforms and sites are great for such individuals, as they allow you to trade in the market, just like brokers, without using money. Virtual trading happens in a simulated environment, where you trade in virtual stocks, track the market, and essentially learn how to trade.
There are more than a dozen virtual trading platforms and sites in India that help you to trade virtually. Below you’ll find five of the best virtual trading platforms, in our opinion.
Zerodha is the go-to name in real, as well as virtual trading. Its virtual trading app is a useful tool for gaining knowledge about stock trading and investing in derivatives, mutual funds, and other investment schemes. The dummy trading app offered by Zerodha provides access to level-3 data, which is important for understanding market liquidity.
The app also has intuitive, fully customizable charts, allows you to set triggers, and analyzes your profit and loss statements. You can create and maintain a multi-stock basket as well.
Reviewing Sensibull was fun. The app has a list of many features that can help get an in-depth understanding of the securities market. The software is designed to minimize losses, while it also allows you to mirror the trading strategy of foreign institutional investors (FIIs). If you get stuck somewhere, you can refer to the many tutorials present on the app. There’s also an events calendar that comes in handy during the results season.
While the simulated environment feels a bit unrealistic, Sensibull’s interface does its best to give you the dynamism and experience of trading on real trading platforms.
3. Dalal Street Virtual Trading App
What better place to start your trading journey than Dalal Street? The virtual trading app, which derives its name from the address of the Bombay Stock Exchange, is an amazing tool to know everything there is about the securities market. The app is available free of cost on both the Play Store and App Store.
It has an easy interface, with useful features like quick notifications and a screener. We also liked the DSIJ Mindshare tab, as it helps you keep track of the important dates in the trading world.
4. Money Pot
The great thing about Money Pot is that it knows that the users on the platform have little to no information about the market. So, it simplifies everything and even has customized modules for students. Among the top features of the app include an internal training tool for the finance and accounts team, access to expert opinion on effective trading techniques, and the opportunity to earn rewards with every trade.
5. Chart Mantra
We recommend using Chart Mantra because of its strong technical indicators and tools. The app has an in-built infographic that performs analysis of various stocks, EOD charts for understanding the current stock situation, and many technical indicators for getting market insight. It is risk-free as well since you’re not going to be using your own money. Users get access to virtual funds of up to one lakh when using the app.