The Nairobi Securities Exchange (NSE) has opened up a new
avenue for individuals wishing to trade at the bourse using a simulated online
trading platform.
The initiative, which is supported by the Kenya Association
of Stockbrokers and Investment Banks (KASIB), will have interested individuals
go through basic train before they acquire virtual accounts to explore the
world of stock markets.
In Virtual Stock Trading better known as Online Stock
Simulation, one uses mock money to study the risks, returns, and working of
financial instruments without committing their hard-earned money. With time (s)he
gets acquainted to investment strategies which can be used in a real bourse.
Most simulators award users up to $100,000 in pretend money
to start trading with options of buying and selling shares as well as charging
of brokers’ fees and commissions coming in hand similar to the real
thing.
After the 6-months training programme one will have a chance
to switch from the virtual account into real cash.
Financial advice from qualified and practicing stockbrokers
and a well-ran blog will be the main sources of information for the potential investor.
Some of the well-known Online Stock Simulators include
Investopedia Stock Simulator,
Yahoo Finance and Fidelity.
It is always best when stock exchange take step to develope such type of platform for trader with investing their money.
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