Bombay: Over the past two weeks, Alexandru Dicu, a management student at the National University of Singapore, has analyzed companies, verified fundamental ratios and tracked metrics such as return on equity and earnings per share.
He also monitored top traders, researchers and bloggers for investment news, and even executed fictitious trades on TrakInvest, a virtual stock trading platform, using fake money.
New intern in the company, Dicu believes that the experience at TrakInvest can also help to get a job. “The job market is very difficult in Singapore and Hong Kong,” he said. “The chances of being chosen by an employer are improved as a user of TrakInvest.”
Dicu is one of 500 students from top educational institutions and professional brokers who have signed up with TrakInvest to test the effectiveness of the virtual trading website which is in beta stage and hopefully get noticed by many. real traders too.
Based in Singapore TrakInvest Pvt. Ltd. was designed by a private equity veteran Bobby bhatia who said he was inspired by gamification, or the integration of game elements such as points and competition, which he now applies to trading.
Using algorithms, for example, the system displays the names of top artists and suggested friends for other users. “By adding them as friends, other users will be able to see and replicate the top performing trades and trading patterns,” Bhatia said.
With offices in Singapore, Hong Kong and India, TrakInvest is set to launch its portal this month and “aims to add 30,000 users by December”. Most of the services are free till date, but TrakInvest may charge a subscription for premium access to search and some of the website’s advanced features, Bhatia said.
TrakInvest has a few peers in the market such as Moneybhai of Money control and Khelostocks.com. However, this is different since it only allows “original names to prevent users from taking actions that would harm their market and their social status”.
Moneybhai and Khelostocks do not insist on original usernames.
Second, most virtual trading sites haven’t integrated social media into their research databases, Bhatia said. “The use of original names will ensure the authenticity of the user and the main artists will be able to show their commercial talent to potential employers. To date, TrakInvest has been able to secure 50 sponsored internships for students who will perform best according to the algorithm, ”said Bhatia.
The website also allows you to link your TrakInvest profile with LinkedIn.
TrakInvest has partnered with Thomson Reuters Corp. that will help users access research reports from at least 12,000 companies in the United States, India, China, Hong Kong, Australia and Singapore. “Reuters research reports will be supported by contextualized information and Twitter feeds, ”Bhatia said.
“TrakInvest is an important client for us. In accordance with our policy, we will not be able to comment on our customers, ”said the spokesperson for the commercial affairs department of Thomson Reuters.
TrakInvest has also partnered with Entreprises Religare Ltée to offer brokerage services to its users to make real trades. Religion did not respond to emails sent on October 21.
Not everyone is excited about Bhatia’s idea. “We typically test candidates on their ability to read graphs, their ability to predict and their knowledge base. Judging a candidate on the basis of a virtual portal may only be one of the criteria, ”said Vinay Agrawal, Executive Director of Equity Brokerage at Angel Broking Pvt. Ltd..
Agrawal added that experienced traders may not spend time on virtual portals. “Most students or people new to business typically spend time on such portals. Virtual trading platforms allow them to learn to trade without harming them financially. “
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