What is the Best Investment Training Tool?
My 12 year old son wants to learn how to invest. I’m looking for an online tool that will allow him to create a "sample" portfolio and make "trial" investments to see the outcomes of his choices before really investing. What tool is best for this? It would be wonderful if he could use the same tool to actually invest later on.
Try stocksquest.com. It’s a free tool that teaches you how to trade in the stock market and lets you create your own portfolio.
Try Yahoo! finance.
If he is in the USA, you can start a Coverdell Education Savings Brokerage account for him at Scottrade, for tax free gains. It has an "Online Investing University" that is free.
Make sure you handle all real transactions though.
http://www.investopedia.com
It has all the information you need and even better it has a FREE virtual portfolio. You can set up an account (no charge) and trade stock. it has a virtual commission and everything as real trading will do.
I think he should use it. It will be a great life lesson for the kid.
I have an account on sharebuilder.com. That is where I started and learned so much more about the stock market. They have no minimums.