Virtually trade Nigerian stocks for free
Financial and investment training benefits from stock market simulators, aiding both beginners and professionals. Trades Trek offers a free Nigerian stocks simulator. This simulator mimics real trading, providing valuable market data for tracking investments in real-time.
By creating a free account on the Trades Trek simulator, you can easily research Nigerian stock options and execute trades. Your portfolio’s value is continuously monitored in real-time as you open and close positions on your trades. Get better at trading Nigerian stocks by engaging in competitions with other practicing investors on the platform.
Accessing the Free Stock Simulator
To begin using the Simulator, simply sign up with your valid email address and set up your username and password. Rest assured, your email will not receive any unnecessary spam. Once your account is successfully created, you’ll have a virtual cash balance of ₦500,000. Virtual cash allows purchasing virtual stocks on the Nigerian stock market, facilitating trading and strategy experimentation without risking real capital.
Explore the user-friendly interface to discover the simulator’s features by trying out various functions effortlessly.
Trades Trek Simulator interface
The stock-trading simulator interface has 4 functional tabs: Home, Trade, Learn and Competition. On the home tab, you can track the percentage changes (gains/losses) in your account for all initiated trades, access your portfolio, monitor specific stocks when added to your watchlist, and view the top gaining and losing stocks on the stock market.
The trade tab just like an actual broker in the Nigerian stock market allows you to place stock orders and monitor the status of your order.
The learn tab provides useful learning resources for investors at all levels of expertise and also provides the functionality of researching company stocks listed in the Nigerian stock market. You get current information on the stock volume, market capital, and stock price history of all companies listed on the Nigerian stock market.
The competition tab allows you to join and create simulated investing competitions with other investors. To make learning how the Nigerian stock market works more fun for everyone.
Each of these functional tabs can be explored easily. And any information about the simulator that you need to be clear about is available on the learn tab.
Researching stocks on the Simulator
Thorough research before investing in Nigerian stocks is essential for confident, long-term strategies. The simulator’s “learn” section facilitates quick analysis. Access fundamental data and a stock screener in the research tab for comprehensive company evaluation.
How to carry out trades on the Simulator
Trades are executed on the trades tab of the simulator. First, you will select the symbol that represents the company stocks you would like to trade; this will then show you the price per stock of the company. Next, you select the quantity of the stock you want to trade, then you choose an action either to buy or sell the stock. Next, you set the duration for the trade, if it is only a day trade or the trade is good until cancelled. This is the same functionality that exists on a retail broker account. Next, you select the order type, the two most common order types are available: market and limit. You also have to option of adding the stock to a watchlist for you to easily track the changes in stock value on the go.
For instance, when placing an order, you must specify the quantity of stock, choose an action (buy/sell), and select an order type (market/limit). Following this, you can review your order, which will present a summary of the action you’re about to take and the total cost of the stock. If you approve, you can then submit your order. It will be executed immediately based on the virtual cash you have in your account. To have a diverse portfolio, avoid buying the maximum shares available for one company.
The Tradestrek simulator runs on real-time data from the Nigerian stock market. Therefore, every order placed reflects immediately on your portfolio list.
Monitoring changes in stock value on the simulator
The portfolio tab on the home page lists the positions you are holding, the current value of those positions based on real-time market data and the percentage gains and losses on of your position. This gives you a summary of the total value of your account, how much you have gained or lost on your account for that day, your remaining cash and current buying power.
The portfolio tab also provides you with the functionality of reviewing your trading history and performance over multiple time frames. This data is presented in the form of a graph and can be sorted into virtual cash or percentage options. Clicking on “Performance History” just beneath the graph provides a list of daily virtual cash and account value.
Using Trades Trek Nigerian Stocks Simulator with friends
To make stock trading more fun and exciting, the Trades Trek simulator offers the functionality of creating and joining trading contests among friends, classmates, colleagues and fellow traders on the simulator. You can join any of the public competitions that run without an end date or you can create one to challenge yourself and friends to use the simulator as a learning environment to sharpen their trading techniques. By default, the minimum starting cash for competitions is ₦500,000. And you can participate in multiple competitions simultaneously. There is a leaderboard that allows you to see your rank in each competition and also the performance of your competitors. Join an ongoing stock-trading competition.
Creating a stock market simulation competition
To create your competition, click the ‘plus sign’ on the competition tab and it immediately takes you to an interface where you can create a competition. Before you create a competition, there are a few things you need to decide on.
The Competition Name: Make it something simple and peculiar to your group, it could be a fun group name.
Competition Description: This should contain the purpose of the competition and every other thing a participant in the competition should know.
Type: Do you want to create a public competition or a private competition? A private competition will require setting a password and sharing the password with all participants of the competition.
Starting Cash: By default, the starting cash is ₦500,000, but you can go as high as ₦20 million.
Basic Competition Rules: They include the start or end date of the competition, allowing late entry into the competition, allowing competitors to view each other’s portfolio and allowing competitors to reset their portfolio during the competition
Advanced Competition Rules: In this section, you will have to determine factors like market delay, quick sell, minimum share price allowed and commission. Beginner traders commonly utilize the default settings, with the option to modify rules as the competition progresses.
Once you’re ready, you can proceed to create and share passwords with participants if the competition is private.
What stocks can I trade on the free Nigerian Stocks Simulator?
Trades Trek stock trading simulator offers investors the opportunity to trade Nigerian stocks in a risk-free environment. Offering investors of all levels a chance to test their skills with real-time market data and ₦500,000 virtual cash on sign-up. Trades Trek Stock-trading simulator grants access to abundant learning resources and tools for swift stock data research pre-purchase. Download Trades trek on Andriod an IOS and get started today!!!
Is Trades Trek a good platform to trade Nigerian Stocks
Yes, the free Nigerian Stock Simulator created by Trades Trek is a good platform to learn how to trade Nigerian stocks. Put your trading skills to the test with our free Stock Simulator. Compete with hundreds of Trades Trek Traders and trade your way to success. Practice trading techniques in a virtual environment before risking capital to prepare for Nigerian Stock market trading. Try out our free Stock-trading Simulator Today.
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