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Virtual Stock Trading in India

3 Best Sites to Learn Virtual Stock Trading in India (Without Risking Your Money)

3 Best Sites to Learn Virtual Stock Trading in India (Without Risking Your Money):

Hi there. Welcome to the day 2 of my ’30 days, 30 posts’ challenge- where I’ll be writing one interesting investing article every day for the next 30 days. Shamsheer Singh requested this post.


Entering the Indian stock market can be a tedious job for the beginners. First, you need to open your brokerage account (demat and trading account). This means that you have to pay the account opening charges and go through the complex documentation process. Further, as stock market trading involves market risk, you can always lose some money— especially, you are a beginner.

So, how to solve this problem? How to learn stock trading in India without actually risking any money.

The answer is by using virtual stock trading platforms.

In this post, we are going to discuss how to use virtual stock trading platforms in India. Here are the topics that we’ll cover today:

  1. What is virtual stock trading?
  2. How does virtual stock trading platforms works?
  3. What are the pros and cons of using the virtual trading platform?
  4. #3 Best sites to learn virtual stock trading in India.
  5. Bonus

Overall, it’s going to be an exciting post. Therefore- without wasting any time, let’s get started.

1. What is Virtual Stock Trading?

A virtual stock trading (also known as paper trading) is similar to the actual trading where you can buy and sell stocks. However, here no real money is involved. You invest only in virtual money. Such platforms which provide virtual trading facilities are called stock simulators.

When you register in these stock simulators, you will get virtual money (Say Rs 10 lakhs or 1 Crores) in your account. You can use this money to practice trading.

Stock simulators provide real-time stock data, which means that you can try out different strategies of trading in stocks just like the real world stock market, but risk-free.

Also read: 7 Must Know Websites for Indian Stock Market Investors.

2. How does virtual stock trading platforms works?

It’s a really straightforward process to use a stock simulator to do the virtual stock trading. Here are the steps required to start virtual stock trading in India-

  1. Open a free account (using your email-id) on a simulating platform (discussed below).
  2. Get instant virtual money in your account.
  3. Start buying/selling stocks like real trading scenarios.
  4. Monitor your portfolio and track profit/loss.
  5. Try different strategies and learn the trading basics.
  6. When you get enough confidence and experience- move to real trading.

3. What are the pros and cons of using the virtual trading platform?

Nothing is perfect in this world. Although there are many advantages of using virtual trading platforms (especially for the beginners), however, there are also few disadvantages. Let’s discuss them- one by one:

Advantages of using Virtual stock trading platforms-

  1. No need to open demat/trading account or go through any documentation process.
  2. No real money is required to start virtual trading.
  3. Real-time market scenarios to try out different strategies and to learn the basics.
  4. Risk-free trading practice.
  5. Okay to make mistakes and take risks as there’s no real loss here.

Disadvantages of using virtual stock trading platforms-

  1. There’s no emotional attachment as real money is not involved. 
  2. You can quickly get bored as winning/losing virtual money is not much exciting.
  3. The real market scenario might be a little different than the virtual trading environment. (In the virtual trading platforms, participants take extra risks and bets than they would actually take in a real scenario.)

Also read: 7 Best Stock Market Apps that Makes Stock Research 10x Easier.

#3 Best sites to learn virtual stock trading in India.

1. Moneybhai

MONEY BHAI - Virtual Stock Trading in India

Website — https://moneybhai.moneycontrol.com/

Moneycontrol website offers Moneybhai. It is a free virtual trading platform where you’ll get Rs 1 crore virtual cash on registration which you can use to invest in shares, commodities, mutual funds, or fixed deposits on the platform.

At Moneybhai, you can also compete with fellow Indian traders by joining different leagues. There’s also a free forum on this website where you can ask your queries or participate in the on-going discussion threads.

2. TrakInvest

TRAK INVEST - Virtual Stock Trading in India

Website— http://www.trakinvest.com/

TrakInvest is a global trading platform that helps you to learn, develop and improve your investing skills. Currently, it provides a curated market data and news from 10 exchanges. It also offers beginners’ guides and videos, certification course designed by industry experts and simulations for competing for rewards.

At TrakInvest, you can also track other traders and dig deeper into their trading activity (portfolio) where you can replicate their trades using ‘Copy Trade’ facility. Overall, TrakInvest provides a simple and friendly platform for ‘Social’ virtual trading for beginners.

3. Dalal Street

DSIJ Virtual Stock Trading in India

Website: https://www.dsij.in/Stock-Market-Challenge

Dalal Street Investment Journal (DSIJ) popular virtual stock trading platform in India which helps you to understand the different trading nuances and to test your investment strategies.

On registration, you’ll get virtual cash of Rs 1,000,0000 to create your portfolio. At DSIJ, you can also discuss strategies with like-minded participants in the discussion group.

New to stocks? Confused where to begin?  Here’s an amazing online course for beginners: ‘HOW TO PICK WINNING STOCKS?‘ This course is currently available at a discount. 

Bonus:

Investopedia stock simulator

Website: https://www.investopedia.com/simulator/

This is my favorite stock simulator.

Investopedia provides a FREE stock simulation platform where you can easily learn how to place trade orders (like market order, limit order, stop loss, etc), how to create a portfolio, how to create watchlist and more. On registration, you’ll get $100,000 as virtual cash which you can use to trade. You can also compete with thousands of Investopedia traders/players on the same platform.

The reason why I didn’t place this platform in the top 3 is that you cannot trade in Indian stocks on Investopedia stock simulator. Therefore, if you’re looking to learn virtual stock trading in India, then it might not be a good option. However, if you are comfortable with trading in foreign stocks like Apple, Google, Amazon etc, then feel free to check out this simulating platform.

Bottomline:

Virtual stock trading in India is an excellent way to learn the basics of trading in the stock market. Using these platforms, you can try different investment/trading strategies without any fear to lose your real money. It’s always advisable to try paper trading (virtual stock trading) for a few weeks before directly jumping in the market.

Hi, I am Kritesh, an NSE Certified Equity Fundamental Analyst. I’m 23-year old and an electrical engineer (NIT Warangal) by qualification. I have a passion for stocks and have spent my last 4+ years learning, investing and educating people about stock market investing. And so, I am delighted to share my learnings with you. #HappyInvesting