MONEYBHAI Review 2021: Here’s what you should know

Moneybhai

Moneycontrol Moneybhai- The Best Online Virtual Stock Trading Game

Moneybhai Introduction: It is a Moneycontrol virtual online stock trading website. Stock market beginners can use the Moneybhai website for both gaming and educational purpose, like a paper trading account. Now before starting the complete reviews about Moneybhai let us first understand what is a virtual trading

What is virtual online stock trading?

Virtual online stock trading is also known as paper trading. It is a simulator-based trading process where investors can do trading without committing any real money. The investors have the full facility in the simulator to trade/ invest or make a portfolio with the imaginary money just like the real market.

The process of doing this type of investment or trading is known as virtual trading. Virtual trading is nowadays are used for educational purpose or to get the result of any market strategy

What is the Moneybhai Virtual trading game?

Financial platform Moneycontrol has brought a virtual stock market simulator –Moneybhai; a special investing simulation platform that allows investors to trade with virtual money and to learn the art of buying and selling with the market’s real-time data. The platform seeks to furnish hands-on rides and learnings of the market and permitting customers to make risk-free investments.

The platform helps the newbies in the market with an age group of 18-34 and also for research for backtesting strategy. It will use real data and news from stock markets to experience the actual online brokerage account. The functioning of Moneybhai will see each and every participant gets virtual money of Rs 1 crore in their portfolio account with a limit for trading set at Rs 1 crore per day.

With the use of 1 cr capital, the investors will be capable to make investments in various products like commodities, mutual funds, fixed deposits, and shares. Investors have got the liberty to reset their portfolio lower back to the authentic rate of Rs 1 crore if they think their investment decision was not right.

How to Play Moneybhai-Its rules

Moneybhai Moneycontrol

Investors need to register themselves on the Moneybhai.moneycontrol.com virtual trading website by using Facebook, Google, or any other email Id.
Every investor needs to log in at least once a day to claim to invest game prize.
Once investors created an account with Moneybhai, 1 crore virtual cash will be deposited in the portfolio account. The intraday limit will be set automatically into his account.
With virtual money, an investor can invest in all the allowed assets like Stocks, Mutual funds, bonds, and fixed deposits.
Investors need to square off all intra-day transactions. Like the actual trading intraday position to be cut before 3.30 pm or it will be automatically squared off.
The trading limits will be set every day as per the Moneybhai virtual Networth.
Any buy and sell transactions cannot exceed the actual volumes in the market.
All the rules and regulations regarding splits and bonuses will be followed as per actual.
The Brokerage charged in Moneybhai virtual trading platform will differ according to the type of trade executed.
Moneybhai has reserved the right to delete or modify the transactions of any user or even reset the user’s portfolio at their sole discretion.

Virtual trading

Advantages & Disadvantages of Moneybhai Virtual trading game

Advantages of Moneycontrol Moneybhai Virtual game

The main advantage of the Moneycontrol Moneybhai virtual account is there you no need to open any Demat and trading account. No documentation is required for login to the account.
No real money is required to start the Moneybhai virtual trading account or paper trading account.
Real-time market scenarios, advisory, and forums support to try out different strategies and learn the basic trading in the market.
Moneybhai virtual trading is risk-free, one can learn actual losing any money.
Investors can make mistakes and trade with risk as there is no real money involved.

Disadvantages of Moneycontrol Moneybhai Virtual game

As there is no real money involved, there is no emotional attachment with trades.
Investors can easily get bored as the outcome of the trading is not real.
The profit or loss booking would have been different in real money trading due to risk-taking capabilities.

Conclusions

The Moneycontrol Moneybhai virtual online stock market trading platform is good for the new entrants in the market. Any person having an investable amount but not having experience in the market can first register on this platform and gain knowledge. After gaining knowledge they can actually open Free Online Trading and Demat Account and trade with real money.

This platform is also used by experienced traders as a paper trading account to backtest their trading strategy. We would advise all new investors to get experience first in the Moneybhai virtual trading platform and then open a discount broking account