Source: Johannesburg Stock Exchange
In a bid to inspire ordinary South Africans to trade on the exchange, the Johannesburg Stock Exchange (JSE) has launched the first JSE Virtual Trading Game - an online trading competition which simulates a real trading environment and allows participants a risk-free opportunity to trade shares.
Each participant receives a virtual R1-million to build an investment portfolio and traders who build the most valuable portfolios will win a share of R60 000 in prizes to be deposited into a stockbroker's account of their choice.
"We believe that the JSE Virtual Trading Game is a highly practical way to convert those who are interested in trading to take the next step and open their own accounts. The JSE recognises the role it has to play in promoting financial literacy as well as growing retail investment on the JSE. Investing on the exchange is not as intimidating or complicated as many people think," says Takalani Nyelisani, Manager: Retail Development.
The JSE is also involved with numerous initiatives aimed at increasing South Africans' knowledge of the stock market. These include Power Hour sessions, investment education clubs, MyJSE Investment Day as well as free public seminars about investing.
The virtual trading game is open to members of the public with the exception of high school and full time university students and financial professionals who either trade or advise the public on financial products.