About:
Money Pot is a free Indian stock market game with delayed market feeds from the Bombay Stock Exchange. It began in 2008 and is owned by Dynamic Web Technologies Pvt. Ltd. The website is still in beta stage so there are still some bugs to work out but it looks very promising indeed. Money Pot is based on games, each game has a separate portfolio linked to it with an initial 20,00,000 Rs. Is it me or is this a strange way to represent 2 million, maybe I am just showing my ignorance about the Indian currency system.
Account Setup:
If you have a reportjunction.com account you are able to just use that information to log in. Otherwise you need to fill out a form with about 10 fields. They ask for your phone number and city which I find a little strange considering they don't even ask for a country. I guess they assume all their members will be from India which is a little farfetched, this is the World Wide Web after all and who the heck knows what they want with your phone number.... Upon registration, you will be sent a confirmation email. To be honest I am not happy that they included my password in the email in plain English but they are not the first to do so. Logging in is done with your email so there is little chance of forgetting your account name. The first time I logged in, I was asked to complete my portfolio but had some problems in doing so but the site is still in beta so they are forgiven.
Trading:
From the home page there is a start trading button that takes you to the games available to enter. As of this writing there are two games listed, a monthly and a quarterly game. The quarterly game says that it started on the first of January 2010 but it is called the Q4 09 game. :). Just another bug i'm sure they will get around to fixing. Company search has an auto complete feature which is good for people like me that are new to the Bombay Stock Exchange and are not sure of a company’s ticker or name. I found that the best place to do research on Indian companies is over at the official BSE website Indian Stock Market.
You have access to the company’s one day chart plus an annual report from reportjunction.com. There are a few types of trades available which include normal market buying, selling, short selling and limit orders set for a 1 day or 1 week. You will also be charged a 0.25% virtual brokerage fee which is applied to all transactions. After a trade is made it will sit in the pending trades area until it gets executed. Pending trades can be modified or cancelled. Each games main page will take you to its portfolio, cashbook and your current rank.
Community:
There is full trading transparency on Money Pot which always gets 10/10 in my book considering financial simulators are a place to learn. You are able to see other investor’s trades by viewing their portfolio, a full list of recent transactions is displayed for that player. Players are ranked based on daily, weekly, monthly and overall performance so it is easy to locate the top traders. From what I have gathered, Money Pot has around 900 registered members with about 100 actively participating in trading. The money wall and live chat are the main social aspects of this stock market game.
Overall a very promising stock market simulator based on the Bombay Stock Exchange.
Note: The well designed Money Pot logo will not take you to the home page. They better fix this because it is extremely un-intuitive to have to go looking for that tiny home button when you get lost and want to shoot back to a familiar starting position.
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