O ptionsHouse is a popular online discount brokerage house. It also offers a virtual trading platform that allows you to practice and learn about investing in a risk-free environment. The virtual platform looks and functions just like the real OptionsHouse platform. Virtual trading allows potential investors to test out strategies and learn the basics of investing. You can place virtual orders, monitor virtual stock performance, and use the tools, charts, and news features to perform research.
These features function the same as if you were using the real OptionsHouse trading platform. To open a virtual account, go to OptionsHouse. Once you open a virtual account and start the platform, this is the image you will see:.
Although the platform has a very nice layout, its wealth of features can be overwhelming at first, particularly to beginner investors. This tiny light bulb button on the bottom right allows you to mouse over links, tools, tabs, and text to get more information. The four navigation tabs at the top let you jump between your account information, stock options, research, and OptionsHouse tools. The Account tab displays your basic account information, such as your account value and cash balance. Clicking the option tab displays the complete list of options for a security.
These include price, type of option, and expiration date. The research tab predictably allows you to research a stock in more depth, reviewing such things as price charts, analyst opinions, and basic company information. You can also review general market performance. Lastly, the tools tab gets you to a range of research tools provided by OptionsHouse. One tool provides minute-by-minute market movements in a customizable format, while another helps you better understand potential risk in your portfolio.
For experienced investors, practicing your investment strategies in the OptionsHouse virtual interface might not be very beneficial. But the platform provides an excellent way for beginner investors to become comfortable with the stock market. The world of investing can be intimidating to someone who has little experience researching stocks and navigating price charts. The real possibility of loss can scare people away from exploring the market.
By using virtual money, the OptionsHouse virtual platform helps potential investors overcome some of these worries. However, investors practicing in the virtual trading world should still do their best to imagine they are handling real money.
But investors will benefit from trying to make their virtual trading world as real as possible. If you are interested in trying out your skills as a trader, look into OptionsHouse as a cost-free way to become acquainted with the stock market. Our Day Money Challenge will help you get out of debt, save more, and take back control of your life. You'll also get instant access to my interview of a husband and father who retired at the ripe old age of.
What others are saying: I'm at Day 26 in your 31 day money challenge podcast. Thank you, thank you, thank you! I've been looking for a comprehensive guide to all-things-money and this has been so informative. I also dab a bit with scottrade and etrade for their trading platforms which I really like. Might be worth looking into? I use Scottrade because of its trading platform, relatively low cost, and branch locations.
Click here to cancel reply. Email will not be published required. Once you open a virtual account and start the platform, this is the image you will see: Take the Day Money Challenge Our Day Money Challenge will help you get out of debt, save more, and take back control of your life. Start the day money challenge! We hate spam as much as you do. February 24, at March 3, at 6:More...