Top 3 Forex Trading Games
Whether you’re looking for a new source of income or are interested in long-term investment, forex (foreign exchange) is a viable option. Indeed, a report from CNBC states that global forex brokers have registered “a spurt in monthly trading volumes and new client accounts,” as more people look to trade forex this year. But what is forex? And what do games have to do with it?
Forex and gaming
Forex is the act of trading one currency for another. According to FXCM’s guide to forex trading, forex has become the largest market in the world, with more than $5 trillion (£3.6 trillion) in average daily trading volume. Its liquidity, or the ability to be quickly converted to cash, has also attracted a lot of activity over the years, so the potential earnings are high if you do your research correctly.
Fortunately, if you have a background in gaming it could prove incredibly handy, as many principles in forex trading work similar to games. For example, some forex platforms have live chats that allow traders to share information. Is this not like teaming up in an arena or MMO game? In fact, Discord is slowly being populated by forex trading servers, despite primarily being a messaging platform for gamers.
Plus, while it’s tempting to start a game blind, it’s no secret that taking the time to look into the game, its mechanics, and its characters can help you become a better player. Forex is much the same; you need to research the currencies you’re going to trade to determine the exchanges that can give you the most profit.
Even the act of trading itself functions similarly to playing a game. Think about it: every trade results in a reaction, whether it’s a reward or a new challenge. Games do this too — every option either gets you a reward or a challenge. Perhaps this is why many forex traders play games to become better. So, here are some of the best:
Forex Game – Online Stocks Trading For Beginners
Online Stocks Trading For Beginners is arguably the best mobile game you can get into if you know nothing about forex. The app first runs you through the basics of forex trading using an easy-to-play simulation. The simulation is labelled with common forex terms like leverage, bid, and margin to help you become more familiar with the activity. It won’t teach you about technical indicators like MACD, RSI, and Bollinger Bands, but it does have built-in features providing news and guides that can direct you to helpful resources when you’re ready to take the next step.
Forexgame is the closest you can get to a real forex platform, with the addition of special challenges, features, and rewards to help boost engagement on the platform. It uses market data from the last four years to run its simulations, granting you the full trading experience without needing to pay a penny. It’ll even simulate the speed at which the market changes.
For every simulation, you have the option to choose the currencies you want to monitor, your opening “balance,” and the commission you have to deduct for every transaction.
Forex Trading Game & Stock Market Simulator
Rather than teach you how to navigate forex platforms, Forex Trading Game is more concerned about your book-knowledge on the activity, such as the principles of forex trading. The mobile app will teach you a lot of neat tricks like how to predict currency movements based on the information available. All the information is given in an interactive quiz format. You can even challenge fellow traders and move your way up on the global leaderboards.
Forex Trading Game is best with a simulator like Forexgame, so you can apply your learnings in a “real” setting.
If you want to get into forex but don’t know where to start, it’s important you understand that you can always look to your gaming roots to begin your trading journey. Start with games that introduce you to the basics in forex, including its platforms, before moving onto simulators.
For more gaming news and guides, take a look at some other articles on the SquareXO blog.