Yes, you read that headline correctly. A new website, UpDown, is paying people to practice their investing skills in their stock market game. And, it is absolutely FREE! I have written before on Own The Dollar about how you should practice playing a stock market game before you begin investing your hard earned money on a real stock exchange. Now, you can earn real money every month if your portfolio of stocks beat the Standard and Poor’s 500 index (S&P 500).
On UpDown, you get to practice investing in the stock market with a $1,000,000 practice portfolio of fake money. The website also lets you set up your own investing challenges and compete against friends and other investors. This is a great idea if you want to have an office competition. How many of you have received some bogus tips while standing over the water cooler? Now you can tell your coworker to test strategies in a game where the whole team can compete against each other!
CNBC said that the website is, “…like fantasy football meets the trading floor.”
UpDown is the only free investment platform that allows members to earn money with zero risk of financial loss.
How can I earn real money?
Each member can compete in the monthly and yearly performance contests.
You compete with all members of the website to see who can beat the S&P 500 by the most. The higher you finish, the more you earn. All members who beat the S&P 500 earn real money. The top monthly performer earns $500.
To be eligible to earn money you must:
- Have performed better than the S&P 500 during the contest time frame.
- You must have traded at least once during the contest period
- You must have logged into your portfolio at least once during the contest time frame
- You must have an account with a verified e-mail address
The site is great! It lets you “purchase” stock through market orders, limit orders, and stop loss orders. You can even short stocks that you think will go down in value, and there are margin calls to keep you honest. Not sure what all those terms mean? You should learn these key investing terms, and trading on UpDown is a great way to learn!