UMOO Fantasy Trading

Reviewer: Alan Posner

UMOO is a fun way to play the financial markets particularly if you  are interested in fantasy trading versus investing. Traders choose to compete in fantasy trading games versus other players or the financial market on UMOO for cash prizes. There are games that are no cost to play and those where a deposit is required. Competitions requiring a funded account have higher prizes. The fantasy trading game can be as brief as ten minutes or as long as a market period. There are fantasy trading games with stocks, forex, and commodities. All tournaments use actual live market data and no software installation is necessary.

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There are two types of fantasy tradinggames playable on UMOO: Trading Tournaments and PIX games. In a Trading Tournament traders begin by choosing a contest of interest to them. The tournaments are constructed in reference to three popular indexes: the S&P 500, the Dow Jones Industrials, and the Straits Times index of Singapore. The Trading Tournaments necessitate players to select stocks from the index and strive to create the largest percentage return they can using a reserve of virtual money. In an S&P 500 game for example users construct a portfolio of stocks in the S&P 500. Once the contest has started contestants may alter their portfolio to take advantage of new opportunities. All competitions are day trades because none spill over into the next trading period. During the contest users can review their fantasy trading portfolios to examine how they are ranking and compare their effectiveness against the "benchmark".

The "benchmark" tells the contestant whether they are “in the money” or “out of the money”. “In the money” means that if the tournament ended at that moment they would receive a prize and “out of the money” means they would lose. The "benchmark" also details the quantity of prizes being given away in the tournament. One important detail however is that players are ineligible to be given prizes in the free tournaments unless they have a funded account with UMOO. Matches that are not without a cost require “fees”. These "fees" are ordinarily fractions of what rewards can be rewarded such as a five dollar tournament will normally have a ten to twenty dollar reward.

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The alternative variety of game is named a PIX game. PIX games are only ten to thirty minutes long and require the player to choose the one, two, or three best performing tickers from a brief list. For example, in a Forex PIX tournament the contestant may need to pick the best performing currency from a list of three. UMOO may make available USD/CHF, EUR/USD, and AUD/USD 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 game users compete only against the market in contrast to a tournament where they compete versus other traders. All PIX games have a cost and the risk reward ratio is about 2 to 1.

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