More and more people are exploring various means to make a decent sum online. Some do so by trying to sell products through the internet, while others delve into trading and investing. If you are keen on the latter, below are some of the most awesome platforms that will allow you to test your market skills.
Wall Street Survivor
If you want to hone your investment or trading skills, then the platform that you should focus on using is a stock simulator. The digital enthusiasts behind useThinkScript suggest that you use stock simulator platforms to try out the trading strategies that you have learned. One of the best platforms that you can explore is the Wall Street Survivor. It has been available and accessible for several years already and many investors, both beginners, and experts alike refer to this because of the platform’s wealth of personal finance and investment knowledge.
The best part about using the Wall Street Survivor is that you can learn and test your trading strategies at your own speed. In parallel to becoming more proficient at trading, you can even earn a graduate degree in investing. You can even take a tailored quiz on the platform to assess your knowledge. Rest assured that these assessments are designed to help you integrate and apply the knowledge that you have learned into your trading strategy.
Technical Analysis Tools
As much as possible, you need to be able to evaluate the patterns in trading data if you want to be a successful trader. To do this, you need to leverage technical analysis tools that can help you make more informed decisions that are based on data and information rather than your emotion. One of the best technical analysis tools that you can use is E*TRADE. It features more than a couple of scanners that are designed to help you analyze the market in real-time
E*TRADE has a LiveAction scanner that will provide you with a good idea of live prices and live analytical metrics. It also features Oscillator scans that are built into the LiveAction scanner that will allow you to explore additional investment opportunities. There is also the Recognia scanner that will allow you to scan stocks based on technical events or patterns.
Another technical analysis tool that you can consider using to test your market skills is Interactive Brokers. The great thing about this tool is that its charting is extremely customizable. It also features hundreds of indicators and real-time streaming data. If you are a beginner or would want to test the features of this platform first, you can always try the demo version. In this way, you will be able to assess whether this tool proves to be easy to navigate for you or otherwise.
You will generally benefit from Interactive Brokers if you are an active trader. The reason behind this is that this platform continues to introduce new education resources and services that prove to be advantageous, even for those who are not as active in trading. The best part is that the order router of the platform is considered to be one of the smartest because it stays on top of changes in market conditions.
Because several people already leverage their smartphones even for trading or investing in different kinds of markets, you may also want to explore mobile trading platforms to test your market skills. In this case, one of the most viable ones that you can try is Robinhood. It started as a mobile app before a website for the platform was launched. This is one of the best options for you to consider in case you are keen on trading stocks and ETFs.
Nevertheless, apart from stocks and ETFs, you can also leverage the platform if you are interested to test your skills in trading Bitcoin albeit this is the only cryptocurrency that you can play around with on Robinhood. You can always upgrade your account if you want to test your margin trading skills as well as enhance your trading capability with extended-hours trading.
The platforms listed above are only some of the ones that you can leverage to test your market knowledge and trading techniques. There are various other platforms that you can explore such as HowTheMarketWorks and MarketWatch Virtual Stock Exchange for stock simulators, as well as Ally Invest and Charles Schwab as technical analysis tools. For mobile trading, you can also explore TD Ameritrade and Acorns. All these are geared towards ensuring your success when it comes to trading or investing in markets such as stock, commodities, foreign exchange, or even cryptocurrencies.