Singapore-based mobile virtual stock market game TradeHero is now finally available for download on Google Play, which would no doubt help boost its user numbers considerably, given that a large part of the world uses Android devices.
TradeHero has a similar concept to Fantasy Football – you get to trade on its virtual platform with a $100,000 starting portfolio, and the market moves according to whatever is happening in real life. Users are then ranked on a leaderboard based on a basket of metrics, including how much profit they have raked if the trade had been conducted in reality.
It’s a free-to-use app, but to subscribe to another user’s trade feed — likely because you may want to replicate the trading in real life to rake in some profit — requires a fee starting from $1.99. Part of this fee then goes to the “leader” user, acting as an incentive to trade seriously on the platform.
The app has reached the number one position in the Apple App Store’s finance category in 75 countries since its launch about a year ago, and has acquired 350,000 registered users so far. It says its average user growth rate month on month was about 85 percent in 2013 — with the Android launch, this is set to increase.
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