Many college students right now may be afraid to jump into the financial world. Since 2008, those who work on Wall Street have been made to look like the bad guys for causing the recession in the United States. Companies like 1Wealth Trading have made stock trading simple with online software, but it can still be daunting to some, especially a younger crowd. Now, that could all change because of the U.S. College Stock Trading Championship, WesternHerald.com reports.
The competition is a way for college students to see what stock trading is like for free and with no risk involved. Unlike many other video games, there is actually a reward for doing well. Not only will the winner get a big piece of a cash pool worth at least $10,000 as a reward, they will also get a one-year membership to selfishinvesting.com, which is worth $700.
Any college campus can get it on it, but some might be turned off because the brainy students at universities like UPenn and MIT are already working on winning the prize. One of the co-founders of Invoost Games, the company hosting the game, says everyone should go for the prize no matter who is already at work. 1Wealth Trading believes exposing students to this kind of software will make more want to get involved with stock trading after graduation.
The pool of players will likely draw from business majors and people who are interested in the stock market, and many will have varying plans on how to play. Some people will make real-life decisions based on numbers and fact, while others are expected to go off of gut feelings. Invoost hopes the chance of winning a chunk of $10,000 simulates the real thrill of dealing in the stock market, therefore making people want to do it for real after the competition is over. The prize will be divided among the top 30 percent of players.
Trading stocks has become a lot easier ever since the invention of online stock software such as the one offered by 1Wealth Trading. One investor cautioned students who get lucky to not confuse that with being smart, which could lead to the loss of real money in the stock market. About 60 universities have said they will participate so far.
1Wealth Trading offers stock trading software to individuals from all backgrounds. The company is dedicated to helping its clients achieve their financial goals.