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Thanks to stock market simulators, you can pick securities, make trades and track the investment results—all without risking a penny—while learning about trading in the process. Key Takeaways Stock market simulators are a fun way to learn about trading and investing without risking a penny of your own money.

Stock market simulators run the the gamut, from basic investment options and trading strategies to more complex features such as options and forex trading. Some simulators sponsor contests that provide an opportunity to test your skills against other users and win real money. There are a host of stock market simulators to choose from, each offering a variety of features and benefits.

Some are easy to use and offer basic investment choices and trading strategies. Others are more complex, offering more advanced securities such as options and forex trading. Some are simply tutorials that help investors learn to trade, while others sponsor contests that provide an opportunity to test your skills against other users and even win real money.

The simulator that's right for you will depend on your skill level and reasons for trading. You may start out with a basic offering and move on to a more sophisticated platform once your skill level improves. When you are ready to give it a try, the following simulators have all received high marks from various reviewers.

Like most of the simulators, to sign up, you enter your email address and age, opt in or out of third-party contact, choose how much virtual cash you'd like to start with, and then you're ready to trade. On this site, investors can buy stocks, mutual funds and exchange-traded funds ETFs in the U.

Currency trading and short selling enables investors to practice more advanced investing strategies. The penny stock area even provides detailed insight into the potential dangers investors face when trading penny stocks. You can now also practice trading global stocks, options, and futures, from exchanges in Toronto, London, India, Mexico, Tokyo, Hong Kong, Australia and more international markets.

Several trading modes are available, providing everything from real-time hours that match the stock market including extended-hours trading for those seeking to replicate the live-market experience to fun mode that permits trading 24 hours a day. How the Market Works provides an extensive library of educational articles to help new investors get started and a variety of contests that pit would-be traders against each other in a test of virtual trading skills.

To facilitate various trading strategies, it also provides data on the most-actively traded stocks, and a summary of the direction the financial markets are moving in. For investors who are ready to dig a little deeper and begin researching individual securities, the site's research area provides the same level of detail available in real brokerage accounts, including company news and analyst recommendations.

While the site has a significant number of attractive features, more sophisticated investors may not appreciate the limited selection of order types. And it links with both the Asian and the American sessions. The problem for the US trader is that they might have to get up very early or stay up very late to trade a European session that runs from 2 am to 12 pm EST. Of course, this session is ideal for the European trader, and it is also not too bad for the Asian Trader who can trade the European session during his evening 3 pm to Midnight, Hong Kong Time.

Currencies like the Euro, British Pound and Swiss Franc are most active during this session as traders from the European countries use their domestic currency in their foreign exchange transactions. Most can trade this session, providing they do not have to go to a job during the day.

Europeans, however, need to be the ones to stay up late to trade this session, and the Asians are probably already in bed. This session overlap represents a time of peak liquidity and it occurs twice: Best Time of Day to Trade Forex The best time of the day to trade Forex are the hours when volume and volatility levels are at its highest level. High trading volume means that more lots of a particular currency pair are being bought and sold and high volatility means that the currency pair is moving fast and trending quickly.

High volume and strong volatility cause large pip movements during the best trading hours. Moreover, the spreads become narrower during high volume trading hours, and narrow spreads mean lower transaction costs. These hot zones happen when two market sessions are both open at the same time called a session overlap. During this time there is a 1-hour overlap between the Asian and the European markets. Important economic numbers from both continents are also released at this time. This is the time when the European traders are trading alongside US traders in the 4-hour overlap between the two sessions finishing by noon EST.

This second overlap also coincides with the release of important economic numbers from two major global economies, the Eurozone and the US. Several reports and high impact news are released during the trading day including Central Banks reports and forecasts, such as the Eurozone and the UK interest rates, macro-economic data, such as the Zew index and the NFP report and so on. Because of the overlap and its economic importance, this period represents the times of greatest liquidity and movement in the markets, so traders need to pay careful attention to them.

With high volatility comes higher risks. Although these are the best trading hours of the day, they are also the riskiest ones. Some days are more desirable to trade, in terms of volume and pip range, while others are less desirable. As you can see from the image above, the rule of thumb regarding the days of the week with a higher average pip range are the middle days. So, the best days of the week to trade Forex are Tuesday, Wednesday and Thursday, when the pairs receive the most action.

So, if you want to trade just three days a week, these would be the best days. Sometimes there are trends continuation or reversals happen on Sunday, depending on what had happened at the end of Friday. Monday: Though trading has been underway since Sunday, Monday still represents less of a pip-range than the middle three days. It is still early week and traders are still waiting for the economic news and numbers to come out during the week.

But watch out for corrective moves against the main trend on Monday that later get reined in by Tuesday or Wednesday. These can lead to false trades. Friday: This is virtual half-day because trading is busy until pm EST and then nearly dies down in activity until it closes at pm EST. There are still trading opportunities that can be found during the first half of Friday. But one should be on guard: this can be the day of reversals from the main trend.

Be particularly on guard the second half of Friday, as the volume can drop way down, causing spreads to greatly increase. This can be an extremely volatile time to trade, and subsequent whipsaw moves can damage many open positions with stops that trade at this time. Major News Events — these could be the speeches of Fed chairman, acts of war or terrorism. These days can be so volatile that you can be whipsawed.

It generally moves sideways during these times. Best Months to Trade Forex The whole year can be divided in thirds, starting with the three terrible months of Summer, the four best months of Autumn, and the four decent months of Winter-Spring.

The FIVE good Months Winter-Spring : January, February, March, April, and May Any holiday period represents drying up the trading volume, and the months following these holidays represent a refreshing return to trading, like rain after a drought. It is the last four months of the year that contribute most to full year returns. The theory behind this maxim is that the summer months are characterized by sluggish performance or a loss.

By selling out your holdings in May, and reinvesting them only when the summer is over, you protect your portfolio and potentially achieve better returns. For most European countries, and also for the US, the June-August period averages out to be slightly negative. The last four months remain the most important for contributing to full year returns, meaning that even after experiencing a poorly performing summer there is still the chance to improve returns.

August is the Worst Summer Month The summer, especially August, is the worst period to trade with many institutional traders in Europe on holidays and North America on vacation as well. That leads to less trading and big price swings. The best strategy many suggest is to simply go on vacation and resume trading when September comes around.

Who have often traded during the summer, regretted it after. The currency markets become very erratic and unpredictable. If you have to trade during the summer, be ready for the sideways action. Trade a range-based system also called trend-fading strategy. Sell a currency at the top of its range, buy at its bottom, rinse and repeat.

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The mission of FTC Our goal is to offer both beginner and experienced traders alike the opportunity to prove themselves and their trading strategies against their fellow peers. Your real-time results will be openly displayed, allowing you to see where you stand on the leaderboard throughout the competition. With this trading competition, we want to create a new type of trading community, which would include traders with proven performance of their methods and strategies.

FTC is designed as a world cup trading competition that helps successful traders like you to gain recognition in this community through an honest contest with objective criteria. You can read more about the FTC philosophy here. Take your chance to become a trading icon and gain recognition in a highly competitive online FX tournament. All trading is done via the well-known and popular MetaTrader 4 terminal. Real prize money and bonuses.

Our bonuses and prizes are real money. After the end of the contest you can withdraw your prize or use it for live trading. Partnership and Bonus Programs. In "Forex School" and "Money Managers" competitions were very popular among traders.

A new contest is about to start soon! Do not miss your chance! Join now How to sign up? Register an e-Wallet with FXOpen if you already have one, log in using your e-mail address and password. Download and install MetaTrader 4 or TickTrader. Pick a competition on the Forex.