Best stock market simulators for Indian traders in 2024

Undoubtedly, no amount of theory can replace even a drop of practice. The same applies to investing in the Forex market since knowledge needs to be tested in real trading. But risking your valuable cash has always sounded scary. Thus, stock market simulators help novice players in India gain confidence and try their potential at trading on stream. 

How do you define a trading simulator?

How do IT specialists train? They write different codes. And acrobats, for instance? With backup in the gym. Having started writing real code or doing tricks at a performance, they will hardly feel the difference between preparation and real trading. And they do not risk anything during this grounding phase.

In short, trading preparation can be compared to taking a driving course. While a novice driver is navigating around the driving school premises, he is in comfortable conditions. A Schumacher will not suddenly fly out from around the corner, hail will not fall from the sky. On a real road, the situation changes drastically. 

All in all, any trader does not know how the stocks will behave, whether his strategies will be justified, or how he will act in a tense situation. In this case, exchange simulators come to the rescue. What are online stimulators? These are e-platforms or mobile applications in which you can trade as in everyday life, only with electronic cash. 

What’s good about investor simulators?

First and foremost, quotes change in real-time. You can make deals, and sell and purchase securities. On the website, there are stock charts, access to the market news feed, and economic indicators.

The main perk is that you don’t risk your valuable capital. If you lose, you can give it another try until you feel ready to enter the real market. 

Stock simulators can be divided into two main groups: demo versions from brokers, and trading stimulators. We share a selection of the best in each category.

Demo versions

Today, a great number of brokers allow you to open your demo account. First, you activate a demo account for free with the selected broker and receive a certain amount of virtual funds. Second, you study the trading platform and all its functionality. Third, you trade stocks and evaluate your strategies. 

It is essential to keep in mind that demo account options are limited. In practice, the service support service extends it upon request without any problems. Therefore, you can practice as much as you like. Even for complete beginners in India, JM helps to set up your demo account and later multiplies your deposit with a 50% bonus. 

Simulators 

These are services for simulating foreign exchange trading. Buying and selling occur in real time, and there are tools for constructing and analyzing charts. There are hundreds of similar platforms. We have selected the best stock exchange simulators for beginner traders in India who would like to be profitable in a short time. 

• Stock Trainer

A fairly easy-to-use service, with registration in just two clicks via social networks. Online chart analysis, market news, and a large selection of securities are offered to beginners. Traders have called it one of the most realistic simulators of the present time.

• Wall Street Survivor

Without exaggeration, it is one of the most popular and time-tested services with a life history of almost 20 years. Important: in Wall Street Survivor you can only practice with US stocks. There are no Chinese or European markets here.  It is interesting to know that Wall Street Survivor offers a plethora of exciting features for both newbies and competent stock players, including participation in competitions and earning prizes. 

• Neostox 

Being represented as a trading platform with 10 million followers, the stock platform offers mastering the mechanics of real-time trading hassle-free. As well, it suggests a comprehensive overview of the current market and is seamlessly designed to lead you to an exciting world of virtual trading. 

Conclusions

Trading is a highly personal thing. It means the best system for one trader may be completely unsuitable for another. There are countless elements of a broker system where personal preferences come into play. For instance, some traders feel insecure about buying on a strong rally or selling after a long decline. They may prefer a system that only buys after a decline and sells after a rally. Some traders will demand a lot of activity from their system because they want constant action in the market, while others will prefer to enter the market very carefully during quiet periods. Depending on these circumstances, Indian beginner traders can select the best option to dive into the world of exciting stakes in baby steps.