COMMENTARY: Wall Street Magnate Offers Fantasy Trading to “Investors” of All Ages

Christine.June3newI don’t know about you, but to me, the concept of trading stocks is one big, complicated, web of confusion, reserved for professionals, the wealthy, or older people. I’ve felt  little left out in the past, when I’ve heard of friends of mine buying stocks, and thought, “I should do that!” The problem is, I have no idea what I’m doing, let alone where to start. That is, until I was introduced to Wall Street Magnate (WSM), a groundbreaking new fantasy trading community that lets people learn the ins and outs of the capital markets. The site uses real-world financial information to offer a realistic and fun fantasy trading experience online, with up-to-the-minute data from all of the major U.S. Stock Exchanges.

WSM allows “traders” of all ages to learn crucial skills in an exciting and social atmosphere. Users have $100,000 in simulated cash to trade stocks listed on the NYSE, NASDAQ, and AMEX. Members climb the corporate ranks by increasing their Status and Title. WSM provides an easy-to-use and intuitive interface for fantasy trading. The site accounts for both dividends and stock splits in a real-time environment, and features social club play where members can collaborate or face-off with their friends while also competing against other clubs. “Traders” can track and document their complete trading history with sortable spreadsheets that can be easily exported. Member profile pages become the central gateway to fantasy trading, where privacy settings can be adjusted at any time. Members can quickly view a snapshot of their portfolio performance, their current achievements, friends’ status, club information, messages, and the WSM Ticker. The WSM Ticker allows members to see live activity streaming in real-time, including 24/7 news from The Wall Street Journal, Reuters Business, Yahoo! Finance, and CNN Money; the 20 most recent stock trades and new trades to hit the site; critical updates regarding buy and sell orders; all Status and Title upgrades achieved by themselves and friends; stock splits awarded for currently held stocks; dividends paid on currently held stocks; ticker posts; and recent friend and club updates. [Read more...]