UMOO Fantasy Trading
Rating: 4 out of 5 stars
Reviewing: UMOO Fantasy Trading
UMOO is a fun way to play the financial markets particularly if you would like fantasy trading as opposed to investing. Contestants choose to compete in fantasy trading tournaments against other users or the financial market on UMOO for cash rewards. There are competitions that are no cost to play and those where a deposit is necessary. Competitions that need a deposit have increased prizes. The fantasy trading competition can be as brief as ten minutes or as long as a market session. There are fantasy trading games with stocks, forex, and commodities. All matches use real-time market data and no software installation is needed.
There are two kinds of fantasy tradingcompetitions playable on UMOO: Trading Tournaments and PIX games. In a Trading Tournament contestants begin by selecting a competition of interest to them. The tournaments are assembled in reference to three well known 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 endeavour to create the greatest percentage return they can with a reserve of virtual cash. In an S&P 500 match for example users build a portfolio of stocks in the S&P 500. Once the game has started contestants may alter their portfolio to maximize their chances. All games are day trades because none extend into the next trading session. During the tournament users may check their fantasy trading portfolios to see how they are performing and compare their effectiveness against the “benchmark”.
The “benchmark” alerts the trader 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 reward and “out of the money” means they would not. The “benchmark” also shows the number of prizes being given away in the tournament. One significant note however is that contestants are ineligible to be awarded prizes in the free tournaments without at least having a deposit with UMOO. Competitions that are not without a cost require “fees”. These “fees” are ordinarily a percentage of what prizes can be rewarded such as a five dollar game will ordinarily have a ten to twenty dollar prize.
The alternative choice of tournament is named a PIX game. PIX games are just ten to thirty minutes in duration and require the player to choose the one, two, or three best performing symbols from a brief list. For example, in a Forex PIX tournament the contestant may have to select the best performing currency from a choice of three. UMOO may make available USD/CHF, EUR/USD, and AUD/USD with a starting time and ending time. The user can win if they choose the currency pair with the highest performance during those ten minutes. In a PIX contest users compete only against the market versus a tournament where they compete against other traders. All PIX games have a cost and the risk reward ratio is about 2 to 1.
Bottom Line: If you are searching for fun with trading financial instruments and fixed risk, fantasy trading on UMOO can be fun and financially rewarding.
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