Financial platform Moneycontrol has introduced a modern stock simulator — Moneybhai; a unique investing simulation platform aimed at giving an opportunity to learn trading by experiencing markets in real time with real data using virtual currency. The platform seeks to provide hands-on experience and learnings of the market by allowing users to make risk-free investments.
With an aim to inculcate the quality of risk-taking and to advocate the ability to learn finance, the investing stimulation platform targets newly turned investors in the age-group of 18-34. It will use real data from stock markets to reproduce the experience of using a real online brokerage account. The functioning of Moneybhai will see every player receive virtual money of Rs 1 crore in their portfolio account with a maximum limit for trading set at Rs 1 crore per day. With the use of their capital, these players will be able to invest in different assets like commodities, mutual funds, fixed deposits and shares. Should one not like their trading options and decisions made, Moneybhai will also give users the liberty to reset their portfolio back to the original price of Rs 1 crore.
Moneybhai provides a host of unique features which promises an interactive and engaging trading experience for the users. They include:
* My Investments: Featuring the portfolio, transaction history and profit-and-loss statement, this feature provides the players access to all information related to equity, debt and the mutual funds that they invest in.
* Transact: This section aids in investing into different asset classes across equity, debt and balanced funds as preferred by every user.
* Leagues: Enables the users to invite their friends to form a league, allowing a small group or community to compete against each other.
* Leaders: Highlights the players who are currently leading the table.
* Learn: Educates the players on the basic investing strategies of the stock market.
* Rules: This section displays the rules to play the game
Speaking about Moneybhai, Gautam Shelar, Business Head, Moneycontrol, said, “Moneybhai is yet another attempt towards preparing and informing our users about the financial know-how of the Indian stock market, in a secure artificial setting. Moneycontrol has been able to stay ahead of the game through a host of innovations and services using the best of technology. Taking into account the ever-changing preferences of our audiences, the modern-day stock simulator seeks to make it a seamless and interactive user experience. The extensive information produced by us, which is at the users’ disposal, will continue to educate our users. This will lead to them eventually being prepared for trading in the real stock market over the due course of time and aid them towards making better investment decisions.”
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