Singapore: A Singapore-based startup co-founded by an Indian-origin entrepreneur has partnered with the Singapore Exchange (SGX) to launch a virtual stock trading contest to cultivate a culture of investment among young investors.
"In an era where first-time investors are acquiring financial literacy through gamified apps, TradeHero is playing a leading role in driving financial education," said Dinesh Bhatia, chief executive officer and co-founder of MyHero, the Singapore-based app developer which created and launched TradeHero in September 2013.
TradeHero is the world's leading financial learning and stock market simulation app.
The partnership also includes Macquarie Securities Thailand for DW Hero, a simulation game for investors, bringing financial education and making financial investment more accessible to first-time investors.
"SGX and Macquarie have been quick to see this trend, particularly among millennials. Together, we aim to make learning fun, engaging and comprehensive, in turn cultivating a culture of investment among young investors," he said.
Almost three million users on TradeHero's free-to- download app are millennials, accounting for nearly 80 percent of its user base.
StockWhiz 2015 is a fun, risk-free way to learn about investing in the stock market.
It is free-to-join and follows the success of StockWhiz 2014 which saw over 15,000 participants.
This year, participants can "invest" in more than 400 Stocks, Real Estate
Investment Trusts (REITS) and Exchange Traded Funds (ETFs) listed on SGX, in real time, he said.
The overall winner, announced after the competition will get 3,000 dollars cash.
Top performers will also get to keep their returns in real trading commission credits, sponsored by OCBC Securities, and stand to win over 200,000 dollars in prizes.
