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Virtual stock market trading #finance

If you don’t have the experience to trade on the stock market you can get some practice by reading virtually. I trade virtually on London South East and find it’s a great website that gives me lots of information on the stocks including RNS statements and charts. I’ve recently started using eToro but that seems more difficult to me. You can trade virtually or for real. I’m not trading for real until I have a lot more experience. You can lose far more than you expect on eToro because trades can employ leverage. Although trades are commission-free. They make money from you in other ways. The spreads are larger and you trade in US dollars so they make money on the conversion to dollars. They also charge a few when you withdraw money.

virtual stock market trading

Cryptos and CDFs

Cryptos or cryptocurrencies like Bitcoin can be traded on eToro as well as stock. I’m particularly interested in a crypto called Ripple (XRP) but I won’t even consider buying it until I have much more experience. I added $500 worth to my virtual portfolio and so far I’m losing $19.51 on it! eToro gives you $100,000 of virtual cash to trade with. So far, I’m losing over $200 of that and I’ve been trading less than a week. I started well making over $200 on gold. You can buy CFDs for several commodities on eToro such as gold, silver and oil but trading CFDs (contracts for difference carries a higher risk. Virtual stock market trading gives you the opportunity to trade CFDs to gain experience but it is still unwise to leverage the trade. 

Commodities

Gold and silver are in demand right now because we’re in extraordinary times with the pandemic. There has been a rush to safe havens and both gold and silver are considered safe-havens. Oil demand has dropped as economies go into recession but I think oil will still recover as the world economies recover although the US economy could suffer more before it gets better. Hopefully, the presidential election will usher in better times for the Americans.

Brexit

As well as recovering from the Covid-19 and the pandemic we have Brexit to worry about here in the UK. That will bring uncertainty for some time to come. You can make money on the stock market in times of uncertainty but risks are much higher. We will see some companies go out of business. We are seeing leisure suffer at the moment and it will be a long time before holiday companies and sporting venues recover. People will avoid crowded places until at least 2021.

Virtual stock market trading

Now is a good time to trade virtually because we are in a recession. Companies need investment and so there will be companies issuing more shares and trying to raise capital. We have also see quantitative easing by the Bank of England which boosted the market. These are extraordinary times when fortunes are lost and fortunes can be made if you are brave when others are fearful! However, virtual stock market trading is risk-free so give it a try! Remember, as always, to diversify. Don’t put all your eggs in one basket!  

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