Wall Street Survivor Game – The Ultimate Guide
If you’re thinking about using Wall Street Survivor to test and enhance your trading or investing skills, this article is a must-read. You’ll get a comprehensive overview of this trading simulator as we’ll shed light on some lesser-known facts and hard-to-swallow truths.
Most other reviews are done by writers who either don’t have proper experience with trading platforms or who haven’t actually tested the trading simulator and are blindly compiling and rephrasing other articles.
Our reviews are different – we have been in the trading simulator industry for several years and we do test the platforms thoroughly, digging deeper to uncover the underwater stones and benefits that others often miss.
We’ll look into the cons and pros of this trading simulator, so you can make an informed decision when choosing a stock simulator and education platform.
Despite its longstanding reputation, Wall Street Survivor is notably outdated. Its popularity as a trading simulator can be attributed to its early inception, almost 20 years ago, and its strategic alliances with universities. Although it seemingly boasts the essential features, the platform has regrettably stagnated over time. Its user interface and functionality exude a dated vibe, calling for a thorough overhaul to match up to its modern counterparts.
If you’re looking for a modern trading simulator, a much better alternative is the new Three Investeers trading simulator app.
What is Wall Street Survivor?
Wall Street Survivor, established in 2005, is a finance educational platform that combines a stock trading simulator with articles and videos about trading and investing. Users can participate in fantasy leagues for friendly competition.
Wall Street Survivor has a stock market simulation game that gives you virtual money to invest in real companies. Stock market simulators allow you to learn how to buy, sell and trade stocks without risking any real money.
Wall Street Survivor’s Pros & Cons
- Various competition modes – one of the standout features of Wall Street Survivor is its various leaderboards. These range from public leagues where anyone can compete, to private leagues for friends, families, or classrooms.
- Options trading available – besides traditional stock trading you can also simulate options trading. Not many trading simulators have options trading.
- Multiple order types available – you can buy at the current price or use a limit order to buy when the price reaches a certain level.
- Trailing stop loss feature – a trailing stop loss allows you to automatically close the trade when the price reaches a certain amount or percentage below the market price AND adjusts as the price increases but stays the same if the price decreases, protecting your profit dynamically and limiting losses.
- No live charts for trading – Wall Street Survivor does not display a live candlestick chart on the trading screen as a standard trading platform would. Moreover, it doesn’t indicate the point at which you’ve entered the trade on the chart. Instead, it merely presents a static, uninspiring line chart, offering no interaction or enjoyment. It’s akin to learning to fly a plane with paper and pencil, rather than using a proper flight simulator. For a genuine trading simulation experience, a live trading chart is essential, where prices update in real-time. You should be able to pinch & zoom in and out across various time frames, utilize indicators, and draw chart patterns, resistance lines, etc. Unfortunately, these features are absent here.
- Lack of Real-Time Prices – The platform doesn’t offer real-time prices. Instead, stock prices seem to update once every 10 minutes or once per day for other assets. To feel the pulse of the markets you want a chart that updates multiple times per second so that you can see how candles are forming as the buyers and sellers battle for dominance.
- Outdated Design – The simulator appears as though it hasn’t undergone significant upgrades since its launch in 2005. It doesn’t meet today’s user experience and user interface standards, making it less enjoyable to use.
- Boring experience – The platform lacks interactivity and feels static. The leaderboards are bland, filled with users with generic names like “quazxscssd123”. There’s no option for user photos or interaction, and information about other users’ trades and activities is limited to their overall result.
- Broken Functionality – The platform is riddled with bugs and inconvenient nuances. For instance, stocks can only be searched by ticker code, not the company name, which is particularly inconvenient for beginners who don’t know that the Harley-Davidson Inc. ticker is “HOG”, etc. Many sections fail to load due to server errors.
- No Forex Trading – Wall Street Survivor does not support currency trading like EUR/USD, JPY/GBP, etc. A good trading simulator should have at least a few of the most popular assets of each major asset class so that you can learn about their differences and find out which assets are more appropriate for you.
- Crypto Trading Limitations – Wall Street Survivor restricts cryptocurrency trading to laptops and designated trading rooms. This is a significant drawback considering the prevalent use of mobile devices for trading. Ideally, all assets should be tradable from any device and from a single trading interface.
- Non-Functional Research Tabs – Analyst ratings and financial statement tabs are not visible. The window is frozen, leaving you with just the basic company information.
- Intrusive Ads – The platform is filled with ads promoting various stock analysis products, and there’s no option for an ad-free version.
- Disorganized Courses – The educational content lacks structure, with random articles and videos thrown together. You’ll get an article about “How To Pay Off Debt” side by side with “Philip Fisher investing”, which don’t doesn’t create an impression of a well-planned trading curriculum. Additionally, their trading video courses are not nicely embedded but are just links to youtube videos, which creates a messy experience as you will be redirected from their website to the Youtube website and then the Youtube app.
- No Mobile Apps – The platform is web-based, with no dedicated iPhone or Android apps. This contributes to a poor user experience as the site is slow, clunky, and not well-optimized for mobile phones.
- Cumbersome Registration – The registration form is inconvenient, requiring mobile users to scroll endlessly to find their country like it’s 1997. In a modern app you should be able to start trading right away, without filling out lengthy forms. If think they absolutely need your date of birth, they could have asked it in later stages.
Wall Street Survivor Vs Other Top Stock Market Trading Simulators
Here’s a quick overview of how the Wall Street Survivor stacks up against other popular trading simulators:
You can read a full and detailed comparison in this article Best Stock Market Simulator Apps.
Is Wall Street Survivor Real Money?
No, just like all other stock market simulators, Wall Street Survivor operates with virtual currency.
There is no real money involved so you don’t risk your hard-earned cash while using the platform.
When you sign up, you are given a virtual $100,000 to start practicing buying and selling stocks. This means that while the experience mimics real trading scenarios, there’s no actual financial risk involved.
What Assets Can You Trade on Wall Street Survivor?
Wall Street Survivor’s trading simulator includes the following asset classes:
- Mutual Funds
- Future Options
- Crypto (with limited functionality)
However, the platform does not support forex (currency) trading. Additionally, cryptocurrency trading is not available from a mobile device. And on the web, it’s only theoretically available, as the web version has functionality issues, such as an inability to search for crypto assets. Instead, it erroneously displays Activision Blizzard stock under the Crypto selection, which cannot be altered.
The absence of these asset classes is a significant drawback, particularly given the increasing relevance of these markets in the current trading environment.
Cryptocurrency and Forex markets present unique prospects and challenges that differ from traditional stock markets. Cryptocurrencies like Bitcoin and Ethereum are known for their high volatility and substantial price fluctuations, which, despite being risky, can also yield considerable returns.
Even when asset values decline, there’s potential for profit through short-selling, i.e., speculating that their price will fall. Acquiring the skills to navigate the complexities of the crypto market can be invaluable for any contemporary trader.
Experiencing the ease with which one can lose money in crypto trading can also be instructive, and it’s preferable to make mistakes in a simulator rather than in real-life trading.
Similarly, the forex market, where currencies are traded, is the world’s largest and most liquid market. It operates 24/7, and its dynamics are influenced by macroeconomic factors distinct from those affecting stock markets. Lack of exposure to this market may limit a user’s understanding of currency exchange rates and their role in all other asset classes.
By failing to provide convenient access to these asset classes, Wall Street Survivor is not offering a comprehensive trading education experience to its users.
Users of the platform may miss out on understanding the nuances and strategies specific to crypto and forex trading, which could be a disadvantage if they choose to explore these markets later.
A trading simulator should ideally offer a broad range of assets for a more complete learning experience.
How Does Wall Street Survivor Work?
You start by registering for free and receiving your virtual $100,000. You can use this money to buy or sell various stocks listed on the U.S. stock markets.
You can then monitor your portfolio and see how it grows or decreases over time.
The platform also enables you to challenge your friends by creating your own custom leaderboards.
Is Wall Street Survivor Free?
Yes, Wall Street Survivor is free to use. They do not offer paid versions of the platform which is good from one side, but has it’s drawbacks as you don’t have an option to remove the ads that are scattered across the platform. Many of their articles seem to be made around ads and not the other way around.
Types of Competitions
A distinctive aspect of Wall Street Survivor is its assortment of contests.
These include open leagues where all users are welcome to participate, as well as exclusive leagues designed for groups of friends, family members, or classroom settings.
Not only do these competitions offer the opportunity for boasting rights, but they also come with potential rewards to be won.
There are several types of competitions for which users can sign up for:
- Default competitions run by the platform.
- Competitions created by other users that are open to anyone who wishes to join.
- Competitions that require a fee or payment before joining (these are typically hosted by other users and may be sponsored by businesses)
Can you win real money prizes with Wall Street Survivor?
Yes, from time to time Wall Street Survivor has sponsored monthly contests where users can compete for real money prizes.
But for the most part, it provides users the chance to win virtual badges, eBooks, and subscriptions to their partner report services.
Here are some categories of badges you can earn:
- Top traders, top investors, and rank-based awards: You can earn badges by clicking on the awards button on your profile page. The badge will appear on your profile next to your username.
- Competition winners: Badges are awarded weekly to the top traders and investors during that time.
- Students: There is an award for good students who complete all of their course requirements within a specified time period (for example, completing all of your courses within one year).
Earning badges is ok for a little motivation boost, but it’s much better to win weekly money prizes like in the Stock Market Game.
Tips & Strategies How to Win in Wall Street Survivor
There are numerous ways to boost your results in Wall Street Survivor, but here are my top seven tips that will help you succeed:
- Increase your trading volume – to make bigger gains you need to increase your position size, leverage, and trade count. In real life, you wouldn’t want to risk too much, but to win in a trading simulator you can and should swing for the fences.
- Learn from the pros – read the legendary investing books like “How To Make Money In Stocks by O’ Neill”, etc.
- Diversify your investments – make sure you understand the principles of asset correlations. It’s not wise to make multiple simultaneous bets in assets that are highly correlated. For example, if the price of gold goes up, so will the Canadian dollar and Canadian companies related to gold production.
- Follow the reports – open your calendar and mark the dates of earnings reports (ER) of companies you plan to invest in and analyze analysts’ forecasts before the news releases. This can help you to spot potential movers earlier than other users.
Can You Trade Options on Wall Street Survivor?
Yes, Wall Street Survivor has incorporated options trading into their simulator, although its functionality is rather primitive.
The technical aspects and user interface of options trading are more complex compared to standard trading, making it challenging to effectively implement both types of trading at a high level of quality
If you’re particularly interested in mastering options trading, we suggest exploring other simulators specifically designed for options trading.
Is Wall Street Survivor Legit?
Yes, Wall Street Survivor is a legitimate platform that has been trusted by thousands of users. Wall Street Survivor has been around since 2005 and has been providing financial education and a realistic trading simulator.
It’s certainly not the best one nowadays, but it is safe.
Also, it’s important to note that while Wall Street Survivor can help you learn about the markets, it cannot guarantee success (just like all other simulators) in the real market. You can read about the cons of simulators here
How Does Wall Street Survivor Make Money?
Given that Wall Street Survivor is free to use, you might be wondering how the platform generates revenue.
Here are their main revenue sources:
- Showing Google ads to their users.
- Selling sponsored ads.
- Promoting and selling stock analysis reports of their partner brands such as “Motley Fool” and “Zacks”.
- Promoting trading brokers (like eToro, IG, etc) and earning affiliate commissions from every client who invests with those brokers through their links.
The whole app is filled with click-baity ads for Motley Fool and other stock analysis subscriptions. And they earn affiliate commissions for each client that buys something through their ads.
We have tried the Motley Fool market research and stock advisory subscription for $199/year. It was quite ok in the beginning – the service provides two new stock recommendations every month, 10 timely stocks, and 10 foundational stocks.
The recommendations worked well during the bull run but after that, their forecast accuracy decreased. So we are not renewing our subscription. Additionally, it became very annoying that they are constantly pushing upsells in all the channels through which they can reach you.
How to reset Wall Street Survivor account
If you’ve made some unfavorable trades on their simulator and depleted your virtual cash balance, you might be interested in resetting your account to start anew with the initial $100k.
Regrettably, there isn’t a straightforward way to do this on their platform. Typically, you would expect to find a “reset account” button in your profile, but such an option is either absent or extremely well hidden.
So there are two options how to reset your account:
- Create a new account by registering with a different email.
- Reach out to [email protected] and hope that they can reset your virtual cash balance.
This is a feature they could easily improve.
Does Wall Street Survivor offer margin trading / leveraged trading?
Most real trading brokers offer leveraged trading. Leverage in trading is like using a magnifying glass for your money. It allows you to trade with more money than you actually have in your account.
For example, if you have $100 and use 10x leverage, you can trade as if you had $1,000. This can potentially lead to bigger profits, but also bigger losses, so it’s important to use it carefully.
Sadly, Wall Street Survivor does not offer leveraged trades for the stock market which is a little sad.
Our Verdict – is Wall Street Survivor Worth Your Time or Not?
In conclusion, Wall Street Survivor, despite its longevity and reputation, falls short in providing a comprehensive and modern trading simulation experience. Its outdated interface, lack of real-time prices, limited asset classes, and numerous functionality issues make it less appealing compared to newer, more advanced platforms.
While it does offer a range of asset classes and competition modes, the platform’s limitations, particularly in its crypto and forex offerings, hinder users from gaining a well-rounded understanding of today’s diverse trading landscape.
Moreover, the platform’s ad-heavy environment and lack of a paid ad-free version can detract from the overall user experience. The educational content, while seemingly abundant, lacks structure and coherence, making it less effective as a learning tool.
On the bright side, Wall Street Survivor is free to use and provides a risk-free environment for beginners to get a feel of investing. But so does every other investing simulator. As a result, for a more realistic and engaging trading simulation experience, newer platforms like the Three Investeers trading simulator app might be a better choice.
Ultimately, the choice of a trading simulator depends on individual needs and preferences. It’s important to consider the platform’s features, asset offerings, user interface, and educational content before making a decision. Remember, the goal is to learn and gain experience, so choose a platform that best supports your learning journey in trading and investing.