Fun and easy to use
Stocks, Forex, and more
None...I like it!
UMOO is a fun way to play the financial markets especially if you are looking for a virtual stock exchange as opposed to investing. Traders choose to compete in fantasy trading games against other traders or the financial market on UMOO for cash prizes. There are competitions that are no cost to play and those where a a funded account is required. Tournaments requiring a funded account have greater reward. The fantasy trading game can be as short as ten minutes or as long as a market period. There are fantasy trading competitions with stocks, forex, and commodities. All tournaments use actual live market pricing and no software installation is necessary.
There are two types of fantasy trading tournaments playable on UMOO: Trading Tournaments and PIX games. In a Trading Tournament players begin by choosing a competition they desire to play. The tournaments are constructed around three popular indexes: the S&P 500, the Dow Jones Industrials, and the Straits Times index of Singapore. The Trading Tournaments necessitate players to choose stocks from the index and strive to create the largest percentage return possible with a pool of virtual cash. In an S&P 500 competition for example contestants design a portfolio of stocks in the S&P 500. Once the contest has started players may change their portfolio if they wish. All competitions are day trades since none spill over into the next trading session. During the tournament users can check their fantasy trading portfolios to see how they are performing and compare their performance in contrast to the "benchmark".
The "benchmark" notifies the user whether they are “in the money” or “out of the money”. “In the money” is defined as if the tournament ended at that moment they would win a prize and “out of the money” means they would lose. The "benchmark" also displays the number of prizes being awarded in the tournament. One critical note however is that users are unable to win rewards in the free tournaments unless they have a funded account with UMOO. Matches that are not free require “fees”. These "fees" are typically fractions of what rewards could be rewarded such as a five dollar match will normally have a ten to twenty dollar reward.
The alternative kind of contest is referred to a PIX game. PIX competitions are just ten to thirty minutes in length and require the user to pick the one, two, or three best performing instruments from a specific list. For example, in a Forex PIX game the user may be required to select the best performing currency from a choice of three. UMOO may make available USD/CHF, NZD/USD, and AUD/USD with a starting time and ending time. The contestant can win if they choose the currency pair with the largest return during those ten minutes. In a PIX contest traders compete exclusively versus the market versus a tournament where they compete against other traders. All PIX games have fees and the risk reward ratio is in the range of 2 to 1.
Bottom Line: If you are searching for fun with trading financial tickers and limited risk, fantasy trading on UMOO can be fun and financially rewarding. More info below: