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Asset Allocation Games, Part 1
Invstr, Stocks & Forex Trading Game, and Bux are software available on both Android and iOS operating systems, that simulate or teach about asset allocation. This spreadsheet contains further details of our findings.
S THAT SIMULATE/TEACH ABOUT ASSET ALLOCATION
PRODUCT #1: INVSTR
BRIEF OVERVIEW OF THE PRODUCT
- The Invstr app enables the placement of virtual bets on the stock market, and also offers a news feed of the latest financial information as well as social forums relating to certain stocks.
- The app is free to play on both iOS and Android, but additional information requires additional payment.
- Here's a link to the official website.
WHY IT IS AMONG THE TOP
- It has been downloaded approximately 50,000 times worldwide as of June 2019.
PROS
- The product has been described as the “Turn Gaming into Investing” by FinTech Futures and “A game changer, demystifying the complicated trading markets” by the AppNews.co.uk
CONS
- Due to Canadian regulations, DriveWealth LLC, cannot on-board Canadian clients for this game.
PRODUCT #2: STOCKS & FOREX TRADING GAME
BRIEF OVERVIEW OF THE PRODUCT
- Stocks & Forex Trading Game features a challenge that can be made against other people, where they compete against each other and trade on different markets around the world.
- The game also uses cartoons to make it a bit more approachable and builds in a quiz to assist in learning about the game. The app provides pro tips, and all the trading simulations happen in real time.
- Stocks & Forex Trading Game is a unique learning and simulation game that is free. It is a simple-to-use, forex learning application for beginners.
- Here's a link to the official website.
WHY IS IT AMONG THE TOP
- It has been downloaded approximately 10,000 times worldwide as of June 2019.
PROS
- The app offers a user-friendly guide with rich illustrations, pro-trading tips, and expert strategy examples that induce novice traders and beginners to master the currency exchange market in a fun and easy manner.
- Stocks & Forex Trading Game has been ranked as the best by Forex brokers.
CONS
- The app has not been updated and has some bugs as experienced by the app users, which were not fixed on time.
PRODUCT #3: BUX
BRIEF OVERVIEW OF THE PRODUCT
- The app sets up an account with 1,000 Bux to trade on a host of well-known companies like Amazon and Facebook.
- Bux also takes its data from the real-work performance of shares on the market with a transition to real-world cash.
- Here's a link to the official website.
WHY IS IT AMONG THE TOP
- It has been downloaded approximately 9,000 times worldwide as of June 2019.
PROS
- BUX X has more than 2 million users throughout Europe and is used by both beginners and trading professionals.
CONS
- Consumers are often locked out for maintenance. Many have addressed the app as a "scam" and "fraudulent."
RESEARCH STRATEGY
We started our search by looking for a pre-compiled list of top games, websites, tools, or software demonstrations that simulate/teach about asset allocation through Forbes, PCMag.com, IPE, Kurtosys, Mashable, Jagoinvestor, and Investopedia, among others. As such, websites generally provide lists of top apps in different categories. The data available from these sources provided the apps/tools/software related to asset allocation/portfolio and management/stock trading but did not highlight the apps that simulate or teach asset allocation.
Eventually, we came across a report which showcased the "top 5 stock trading games" which simulate or teach asset allocation. Thus, we based further findings on this one. After finding information, we excluded the apps/games/websites/tools already listed in previous research, to avoid duplication. We used the Sensor Tower website and to rank the apps as 'top,' based on the number of downloads worldwide as per June 2019. From this ranking, we then selected the top three apps.