Rating: 4 out of 5 stars

Reviewing: UMOO Fantasy Trading

UMOO is an enjoyable way to play the financial markets especially if you are looking for fantasy trading rather than investments. Traders choose to compete in fantasy trading tournaments against other users or the financial market on UMOO for cash prizes. There are tournaments that are free to play and those where a a funded account is necessary. Tournaments requiring a funded account have increased prizes. The fantasy trading competition could be as brief as ten minutes or as long as a market period. There are fantasy trading games with stocks, forex, and commodities. All matches use real-time market data and no software installation is necessary.

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There are two varieties of fantasy tradingcontests playable 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 popular indexes: the S&P 500, the Dow Jones Industrials, and the Straits Times index of Singapore. The Trading Tournaments require players to select stocks from the index and strive to create the highest percentage return possible with a pool of virtual cash. In an S&P 500 game for example contestants construct a portfolio of stocks in the S&P 500. Once the match has begun players may adjust their portfolio to increase performance. All games are day trades because none extend into the next trading period. During the tournament users can check 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” informs the player whether they are “in the money” or “out of the money”. “In the money” is defined as if the tournament ended at that moment they would receive a reward and “out of the money” means they would lose. The “benchmark” also displays the quantity of prizes being awarded in the tournament. One significant note however is that users cannot be awarded prizes in the free tournaments unless they have a funded account with UMOO. Tournaments that are not free require “fees”. These “fees” are usually a portion of what rewards could be rewarded such as a five dollar competition will usually have a ten to twenty dollar prize.

The alternative variety of match is called a PIX game. PIX tournaments are only ten to thirty minutes in duration and necessitate the player to choose the one, two, or three best performing symbols from a specific list. For example, in a Forex PIX match the contestant may have to choose the best performing currency from a list of three. UMOO may make available USD/CHF, EUR/USD, and USD/JPY with a beginning time and ending time. The player can win if they choose the currency pair with the maximum return during those ten minutes. In a PIX competition traders compete exclusively against the market versus a tournament where they compete against other traders. All PIX games have fees and the risk reward ratio is about 2 to 1.

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

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