The Moneycontrol financial platform introduced a modern stock simulator – Moneybhai; a unique investment simulation platform aimed at giving the opportunity to learn trading by experiencing the markets in real time with real data using virtual currency. The platform seeks to provide hands-on experience and market learnings by enabling users to make risk-free investments.
With the aim of instilling the quality of risk taking and promoting the ability to learn finance, the investment stimulation platform targets new investors in the 18-34 age group. It will use real stock market data to replicate the experience of using a real online brokerage account. The operation of Moneybhai will see each player receive virtual money of Rs 1 crore in their wallet account with a maximum trading limit set at Rs 1 crore per day. With the use of their capital, these players will be able to invest in different assets like commodities, mutual funds, term deposits and stocks. If someone does not like their trading options and the decisions made, Moneybhai will also give users the freedom to reset their wallets to the original price of Rs 1 crore.
Moneybhai provides a host of unique features that promise an interactive and engaging trading experience for users. They understand:
* My Investments: Including portfolio, transaction history and income statement, this feature allows players to access all information related to equity, debt and mutual funds in which they invest.
* Transaction: this section helps to invest in different asset classes among equity, debt and balanced funds, according to the preferences of each user.
* Leagues: Allows users to invite their friends to form a league, allowing a small group or community to compete against each other.
* Leaders: highlights the players who are currently at the top of the leaderboard.
* Learn: Educates players on basic stock market investment strategies.
* Rules: This section displays the rules for playing the game
Speaking about Moneybhai, Gautam Shelar, Business Head, Moneycontrol, said, “Moneybhai is a new attempt to prepare and educate our users about the financial know-how of the Indian Stock Exchange, in a secure artificial setting. Moneycontrol has kept one step ahead thanks to a multitude of innovations and services using the best of technology. Taking into account the ever-changing preferences of our audiences, the modern stock simulator seeks to make it a seamless and interactive user experience. The wealth of information we produce, which is available to users, will continue to educate our users. This will ultimately lead them to prepare to trade in the real stock market over time and help them make better investment decisions.
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