UMOO Fantasy Trading

Posted on March 2, 2010
Filed Under Investments | Leave a Comment

Rating: 4 out of 5 stars

Reviewing: UMOO Fantasy Trading

UMOO is a fun way to trade the financial markets particularly if you are looking for fantasy trading versus investing. Traders choose to compete in fantasy trading tournaments against other traders or the financial market on UMOO for cash prizes. There are contests that are free to play and those where a deposit is necessary. Competitions that need a deposit have increased reward. The fantasy trading match can be as little as ten minutes or as long as a market period. There are fantasy trading matches with stocks, forex, and commodities. All competitions use actual live market pricing and no software download is needed.

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There are two types of fantasy tradingmatches available on UMOO: Trading Tournaments and PIX games. In a Trading Tournament players start by choosing a tournament of interest to them. The tournaments are assembled around three primary indexes: the S&P 500, the Dow Jones Industrials, and the Straits Times index of Singapore. The Trading Tournaments require players to pick stocks from the index in an effort to generate the highest percentage return they can using a reserve of virtual cash. In an S&P 500 tournament for example players design a portfolio of stocks in the S&P 500. Once the contest has initiated contestants may adjust their portfolio to take advantage of new opportunities. All matches are day trades because none extend into the following trading session. During the game users may examine their fantasy trading portfolios to see how they are performing and compare their performance in contrast to the “benchmark”.

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The “benchmark” notifies the trader whether they are “in the money” or “out of the money”. “In the money” is defined as if the tournament ended right now they would win a reward and “out of the money” means they would lose. The “benchmark” also details the quantity of prizes being given away in the tournament. One significant detail however is that traders cannot win rewards in the free tournaments without at least having a deposit with UMOO. Contests that are not without a cost require “fees”. These “fees” are typically a portion of what prizes can be won such as a five dollar game will ordinarily have a ten to twenty dollar reward.

The other choice of contest is named a PIX game. PIX matches are just ten to thirty minutes in duration and require the user to pick the one, two, or three best performing tickers from a short list. For example, in a Forex PIX contest the user may need to choose the best performing currency from a choice of three. UMOO may make available USD/CHF, NZD/USD, and AUD/USD with a starting time and ending time. The contestant can win if they select the currency pair with the largest return in those ten minutes. In a PIX competition users compete exclusively against the market in contrast to a tournament where they compete versus other players. All PIX games have fees and the risk reward ratio is usually closer to 2 to 1.

Open a UMOO account now!

Bottom Line: If you are searching for fun with trading financial instruments and limited risk, fantasy trading on UMOO can be fun and financially rewarding.

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