December 14, 2012 by Terence LEE
We’re all familiar with fantasy football, where you pick a team, watch how their real-world counterparts perform, and see your team go up or down the rankings. TradeHero, a Singapore-based startup, is doing the same for stock traders.
This is a game that could help you make real money. The iPhone app, which just launched today, gets data from 14 stock exchanges, 45,000 global securities, and has 1,300 currency pairs. Users are given $100,000 in virtual currency, which they can then use to build to virtual portfolio.
From then on, it’s a race to the top. A leaderboard shows who are the most successful traders in the game, and they will be ranked by exchange, sector, monthly, quarterly, and overall returns. These top scorers will be called ‘Heroes’, hence the name of the app.
Here’s where things get interesting. Users can follow their favorite heroes for a small monthly fee, where they can receive stock tips via push notifications on their smartphones. The company will then split the monthly fees equally with the heroes. Read more