Beginners always fall in the same trap: they get into the trading business with few pieces of knowledge and throw away all their money. With all the information and platforms available on the internet, there’s no doubt that you can get confused and disoriented when it comes to learning stock trading.
Well, now that you are more careful about your money and you don’t want to waste any more cash on bad trading platforms, I can assure you that you are on the right place to get to know more about the greatest, most sophisticated trading platform on the market: TradingSim.
Without further introduction, here’s what you need to know about TradingSim and how you’ll make your trading more profitable from now on with this inspiring platform.
Who is TradingSim for?
Let’s make it clear: TradingSim isn’t a product just for beginners. That is what most traders think about it, and most of TradingSim reviews share to the public. It isn’t. It is true that many beginners start using TradingSim as a first step, yet that doesn’t necessarily mean that it’s dedicated only for them. Alternatively, it can be used by any trader, from beginners to experts, due to its various benefits and advantages. Besides, even experienced traders can resort to TradingSim, who want to play it safely about their trading strategies with lower risk.
So, if it is the first time in the trading business or you have been into it for a very long time, TradingSim is for you!
What is TradingSim?
TradingSim is a trading simulator; just like its name indicates. It is a platform that lets you to interact like a real dealer with real data and trading charts. The idea is that, while you are learning the basics of trading, you can interact and trade with virtual or paper money without any risks of losing real money. Besides, it allows you to trade on historical data, which means that the day played out on the TradingSim is the exact way as the day it played out before.
What makes TradingSim better than any other trading simulator is that it provides a lot of advantages and features to help you with your learning process. For instance, it is web-based software so that you can have full access anytime anywhere without limitations. Besides, it is the only trading simulator that provides a list of the market movers. You may think that other simulators have these features and more; but still, TradingSim is a lot cheaper than most of the other simulators and much easier to operate. It is the right software that will certainly make your trading process more enjoyable and profitable.
TradingSim is an entirely new platform and has been programmed with modern technology, which makes it more sophisticated and more performant than any other old simulators. In fact, older simulators ask you to install some software on your computer during their upgrades to do the processing, which may cause some inconvenience and malfunctioning for old machines. On the other hand, TradingSim uses HTML5, which in return has many features, like:
- Easily upgradable
- No additional software is required
- Supports mobile devices
- Amazingly smooth
It is like you are running a computer software on the web browser, and that is what makes HTML5 very good. Thus, that is what makes TradingSim the best trading simulator. You can efficiently operate it as if you are using any other software on your machine: mouse functionality, hotkeys, etc.
Even more, the charting capabilities of HTML5 are what makes it very powerful and very competent. If you had ever used other older trading simulators, you’ve probably noticed that the charts are sluggish and slow. They take quite some time to update, and in some cases, you would notice little blips. However, you will never face this kind of problems and malfunctioning with TradingSim; the charts update smoothly and without any inconvenience.
In TradingSim, the charting is second-to-none. Besides, there are various technical indicators that you can use to the content of your heart, as well as plenty of tools for drawing. That means that you can set up TradingSim whatever you want.
TradingSim is your right opportunity to test everything you have learned about trading and get more expertise.
One of the best things that I find very interesting and helpful in TradingSim is that you can fully customize it into whatever look you want. You can save up to 1000 indicators all at once and display as little or as much information as you want.
There are various built-in technical indicators in TradingSim. Some of them are:
- Moving Averages
- Pivot Points
In most cases, using roughly 50 technical indicators would be enough. If you want to expand the number, you can access the TradingSim marketplace. You can find some third-party indicators as well. The price rate varies between $20 and $150. So, make sure to choose the right technical indicators that suit your needs and preferences.
TradingSim has a news feed; and by far, this is one of its best features. When replaying the historical data, you will get news’ highlights from the day it was pulled out from best financial news websites in the world. That means that you will have better information about the different changes in the stock prices and correlate with the news of the day. Nevertheless, you should know that there is no real time news feed on the TradingSim, which may be frustrating in some cases. But still, you will get access to various information and news from every place in the world with just a few clicks.
You can get much data on stocks on TradingSim. I think that is the only major issue about this platform. If you are looking for stock scanning features, you will find a lot of free tools which are dedicated for this purpose and provide more in-depth information about dividends paid and price movement.
You can activate the stock alerts on TradingSim; it is a pretty simple and basic feature. You can control when and how you want to get alerted about the stocks. Bur, this is not the reason that makes TradingSim the best trading platform as the other simulators provide this feature as well.
Can Be Linked to Your Current Broker
When it is time to place real trades with real money, you can link TradingSim to your current broker (it is not supported on every broker) so that you make it easier to jump between them. When it comes to stock trading, timing is crucial. So, you will certainly need this feature, especially for beginners.
This is where most traders are going to be spending their money. TradingSim has an option for the equities package, which will provide:
- More than 11,000 Stocks
- More than 500 Trading Sessions
- Settings for Risk Management
So, it would be the perfect fit for those who are looking for long term investment, or who are planning to day trade stocks.
One other thing, if you want to get the best out of TradingSim, you may consider purchasing the futures package in addition to the equities.
With the TradingSim, you will have access to the 20 top futures contracts, bitcoin futures, and even two years of historical futures data. That’s why this platform is practical for experienced traders as well. It’s beneficial when it comes to trading with real money.
TradingSim charges $24.75 per month when selecting one of the packages mentioned above. However, when you combine them into one single package, you’ll get charged with $35.75 per month. The two options are billed annually. Besides, you’ll get a free 7-day trial on whatever option you choose (you’ll have to put your credit card’s information). It might be a little costly, but it’s still cheaper than other trading simulators, and it’s totally worth it. If you are a beginner, this will save you a lot of money. You’ll find all the necessary information in TradingSim. So, there’s no need to pay extra money elsewhere.
TradingSim is the best simulator on the market when it comes to quality charting platform. Also, you’ll have an indicator, all the fantastic historical data, and the ability to stimulate trading of Bitcoin between your hands.
TradingSim isn’t as stable as I’d like it to be. Often, when I use the platform, I can only use some part of it. I get some error messages, or it just stops. It’s true that there are some bugs within the platform, but the developers are aware of them now, and they are working at them for the moment. Perhaps, everything will be cleared and well-functioning by the time you finish reading this article.
I believe that after reading this review that you’ll be very enthusiastic about using TradingSim. If you are a beginner, this is the right simulator that will undoubtedly help you during the learning process. Even for experienced traders, TradingSim will make your trading process a lot easier. With all its features and benefits, it’s totally worth every penny you pay.