Do numbers fascinate you? Is stock market lingo your mother tongue? Do you imagine traders in red capes and tights, Superman style? Well, if you just like the thrill of playing the stock market sans the risk of losing all you have, here’s one Android app we think might suit you.
Investopresto, currently based in both India and Singapore, is a social, gamified and virtual Android app that simulates the stock market. It allows users to act like traders with virtual money on existent stocks trading on the BSE and NSE — two huge stock exchanges in India. Users start off with a virtual cash pool of 5 lakh rupees (about US$ 28,000), buy stocks and sell them, and their net worth is calculated by the total of market value of the stocks and money they have.
Ashwini Anand, CEO and founder of Investopresto highlights that tech-savvy urban professionals are increasingly looking at stocks as a source of investments. ”Historically, most Indians have generally been conservative while investing, preferring to invest in fixed deposits, insurance and gold. The stock market has been dominated by institutional investors, with low levels of retail investor participation. However, this is changing rapidly as tech savvy, urban professionals are increasingly looking at stock markets as a source of return that exceeds the high levels of inflation in the country.”
On the website, the site is said to be a next-generation investment portal which aims to help small investors in making smart investment decisions. The app will also make intelligent investing accessible to tech-savvy individuals, without consideration for their knowledge of financial jargon.
Ashwini also explained that several users of their portal told them that they were keen on investing and learning the how-tos of trading in these stock markets. However, it was not rare to also hear worries pegged along about losing money on the markets. Ashwini previously worked at Merrill Lynch, where he heard from his boss that the way to go is to trade with paper before he garnered enough confidence to play with the real thing.
He added, “So, we launched our virtual trading game as a web application integrated with the portal. We soon realized that this was one of the most used features on our site. Many of the users who used our web app were Android users and inquired if we had an app.”
Image Credit: Mike Rowe Works
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