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The Spartan Trader claims to be a state of the art virtual trading game that offers a way for novices and seasoned traders to practice investing with little at stake. All quotes are in real time and you are able to view other top traders trades, portfolios and strategies. The Spartan Trader was created in 2008 by a group of professional hedge fund managers that claim to have made billions in the market. I wonder who they are…
Account Setup:
A lot of information is asked for when you go to the register screen. You are basically confronted with a wall of input boxes. After you manage to make your way through the registration you will be given a free promo code that allows you to enter one daily game. For example I received the promo code "DAILYNOV09". Not sure why it says nov09 considering I signed up in march 2010.
Buying and Selling:
To start buying and selling stocks, you need to enter into a stock market game. There are 4 games to choose from, these are the daily, weekly, monthly and quarterly games. You can only use the promo code to enter a daily game where the max you can win is 2 credits equal to 2 game entries. All competitions accounts begin with $100,000 and a specific set of rules. The rules include the trade types allowed and not allowed (buy,sell,short,etc), virtual commission, diversification, transaction amount limit, stock ownership limit, view other investors trades, joining terms and quitting terms. Professional in the stock market industry as outlined in their agreement also have to pay for real time quotes but non professionals do not. Choose to enter your promo code and not pay by credit card to proceed to enter the game. You will be sent a confirmation email upon entry.
You are allowed to reset your portfolio once per competition which is a pretty generous feature considering we are playing for real money. It might not be that helpful for a daily game but it could be in a monthly game where you made a huge mistake and are down 30% on the first week. (lucky this is just a simulator). To place a trade in your competition account, just do a search for the stock you want to trade and hit the trade button. You can trade 750 of the largest nasdaq stocks. When you hit trade, a popup box will appear with a lot of the company’s information, including 10 year charts, highs and lows, last tick data, market cap, shares outstanding, etc and is provided by quotemedia like a lot of the other stock market simulators around. You are able to place orders outside of market hours and they will be executed once the market opens.
Community:
From what I can see, not a lot of people use this stock market game website. The main reason is because of the price it costs to enter a competition. It costs $30 to enter the monthly game and $50 to enter the quarterly. They are charging way too much and need to drop it down to around $4 and $12 respectively. Otherwise people will end up going to websites like Zoodak or Updown where it costs a lot less to enter these simulated games. The positive side to this is that you might not have a lot of competition because there is no minimum amount of competitors. Another great thing about The Spartan Trader though is that you can see your competitions trades and portfolio and why shouldn’t you be able to in a simulated environment. They also provide a forum for each contest you enter available to competitors only.
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