NEW YORK, April 13, 2020 /PRNewswire/ -- TradeUP, a fintech trading platform that offers free access to a powerful suite of features to trade U.S. stocks and ETFs at zero-commission, has announced the launch of its paper trading competition. Inviting investors of all experience levels, the competition runs from April 20, 2020 to May 18, 2020, lasting four weeks, and offers both weekly and final prizes to top performers. Each week, the top 10 performers will receive a cash bonus up to $100. On May 18, the top 20 overall performers will win cash prizes up to $1000. To further encourage everyone to learn about equity investing, TradeUP expands its reward pool to provide qualifying participants with positive returns the chance to win a free stock (cash equivalent) up to $50 in value.
The paper trading competition reiterates TradeUP's vision to promote financial inclusion. By offering each participant a virtual buying power of 100k to start with, as well as free access to streaming and live market quotes, the competition allows participants to sharpen their trading skills and test drive new investment strategies without risking real money.
"One of TradeUP's primary goals is to make investing more accessible to everyone and what we have noticed is that investors may hesitate to pull the trigger either because they are unfamiliar with markets or because they face greater uncertainty due to market volatility," said Ryan Song, Director of TradeUP. "Seeing how the stock market has swung wildly in recent weeks as coronavirus fears linger, we believe hypothetical trades will help investors gain more acute insights into the mindset of the market amid the coronavirus outbreak."
With a strong technological capacity, TradeUP's paper trading competition is designed to mimic real-time market environments as much as possible to give users an authentic trading experience. The simulated platform carries all the trading tools of the live trading platform such as order flows, over 30 technical indicators and more, helping users practice trading with a wealth of information. Orders in the paper market will execute according to the latest market prices. Liquidity of the simulated market is consistent with the real market. Meanwhile, it is also noted by Song that TradeUP has added some creative twists to the competition so that participants can fully take advantage of this learning opportunity.
"In this paper competition, transactions will be settled on the date of initiation (T+0). Funds from closing positions become available for trading immediately. Rules as such reduces barriers to trade, allowing participants to capture every available market opportunity which can serve as learning experiences in today's rapidly changing markets," Song said, "with more practice and hence more experience and knowledge, your future transition to live trading may become seamless."
TradeUP has always aimed to empower all participants by offering them a wide variety of means and tools to explore the market and refine their trading techniques through the use of fintech. The paper trading competition incorporates extensive features and an intuitive interface of the live trading platform to deliver a superior user experience. Users who seek to participate in TradeUP's paper trading competition need to register by May 11, 2020, 9:30 AM ET.
For more information, please visit：https://tradeup.marsco.com/activity/market/stockgame/#/TradeUPApril/join/signup
Brokerage services in TradeUP are offered by Marsco Investment Corporation. Download TradeUP in the Apple App Store or Google Play for free. For more information, please visit TradeUP's website: https://www.itradeup.com/
About Marsco Investment Corporation
Marsco Investment Corporation is a registered brokerage firm at SEC (CRD:18483; SEC: 8-36754), a member of FINRA／SIPC and a member of DTC/NSCC, regulated by the US Securities and Exchange Commission and Financial Industry Regulatory Authority.
All investments involve risk, including possible loss of principal. Past performance of a security, market, or financial product does not guarantee future results. Electronic trading poses unique risks to investors. System response and access times may vary due to market conditions, system performance, and other factors. Market volatility, volume, and system availability may delay account access and trade executions. The contents of this article shall not be considered a recommendation or solicitation for the purchase or sale of securities, futures or other investment products.