Would you like to learn how to invest in companies, but you have no idea how to do it? Do you want to buy and sell shares on the stock market, but do you think that due to your ignorance, you will only lose money?
Before jumping into the pool in this complicated world, you may want to try your hand at it, but without any risk. This is possible thanks to Invstr, a fantasy-style game with which you can simulate that you invest in listed companies.
With the Fantasy Finance option, players choose their actions and check their evolution in the markets. As a good fantasy, you will be able to compete with others, whether they are friends or strangers.
The game has been created by Kerim Derhalli, a 35-year investment banking veteran. “They developed Invstr to help prospective investors get beyond the primary obstacles to entry in the field of investing, such as a lack of expertise and confidence.
According to Derhalli, who believes that the major goal of his tool is to democratize investments, “we believe that financial sustainability is as vital for the globe as environmental sustainability, which is why Invstr makes the markets enjoyable, interesting, and sociable.”
As they practice and learn, users can also create their own portfolios in the real world using the Invest Prime option. Within the app, there is a kind of integrated social network in which advice and experiences are shared.
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When you start playing in fantasy mode, you have $1 million of virtual money at your disposal. If you win that money, it will accumulate. If you lose, you can get extra money by playing more games, doing some actions, or making in-app purchases.
Your level will vary from less to more, depending on your performance. You can be a learner, a beginner, an analyst, a professional, a teacher, an expert, or a guru. You can level up if you do it correctly.
When you feel ready, you can jump right into investing with real money, starting at just $1.
The app can be used for free, but it is also possible to be a member of the Premium service, which gives access to advanced features in the game, such as trading in private mode, and allows you to enter the Investr Academy. The latter is a gamified learning experience that includes more than 80 lessons so that users learn to become investors little by little.
Personal Finance Insider analyses each investment
app. Better Business Bureau profile as part of its evaluation of reliability. The BBB assigns grades to businesses according to how successfully they deal with customers.
Although Invstr doesn’t have a BBB profile, there are no significant lawsuits or scandals on its record.
Trading accounts
For traders who want to execute commission-free trades across a variety of investment kinds, Invstr might be a fantastic fit. Additionally, fractional shares can be purchased for as little as $5.
However, you may access much more with Invstr Pro (free for 90 days, then $3.99 per month). Invstr Stats and Portfolio Builder are two of these added capabilities. By giving you details about your investing approach and portfolio, Invstr Stats enables you to monitor your progress.
For passive investors who want to transition into active trading gradually, the Portfolio Builder tool may be of interest.
Users of Invstr Pro also get access to data on portfolio returns, real-time market and investment information, and technical charting tools. Additionally, the platform offers digital, FDIC-insured checking and savings accounts if you require extra banking services.
Although there are no commissions for trading these assets, there are some costs involved. These include a 0.5% exchange cost and a 1% transaction spread fee.
Other aspects of investing
You may manage a $1 million virtual portfolio with the Fantasy Finance function without taking any actual risk. Investors have the opportunity to win a $100,000 portfolio by taking part in the 100k Challenge.
Access to an 85-lesson instructional program on investing is available through Invstr Academy.
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