FAQs of Virtual Trading
- Who can join? Is the stock market knowledge is important?
Registration for the game competition is free. Anyone from anywhere can join the competition. No prior knowledge of stock market is required, you learn in the game as you go.
- Is this competition free to enter? Do I need to pay to participate?
Yes, the competition is free to enter. The system provides you with Rs 10 Lakh (1 Million Nepali Rupees) virtual (NOT a REAL MONEY) cash for playing investment immediately after registration on the game. However, If you think you need for virtual funds for investment, you can buy virtual money in the game.
- When can I make entry into the competition?
Anyone can enter the competition while its running already, No Registration will be allowed when competition is to expire in the next 2 trading sessions. For example, if competition’s last day is January 31st, 2020(Friday), Entry in the system will be allowed till January 28, 2020.
- How long does the completion last?
The competition will be held for a period, the periods will be listed. For now, the competition will run for a month, starting from first day of each English calendar month and ending on the last trading session of the English calendar month.
- How is the winner decided? What’s the prize?
Winners will be determined on the basis of the total profit (Rs) in their portfolio at the end of the month. Anyone who makes the highest amount of profit at the end of competition will be the winner of competition. Similarly, the second highest will be second and so on so forth.
Top 3 investors will get the cash prize of Rs 35,000; Rs 20,000 and Rs 10,000 respectively. Rest 7 top scorers will get Rs 5,000 each (25% Tax will be deducted from the prize amount). Only PROFITS will be rewarded. If you have a loss in overall portfolio, you will not be eligible for prize money. Prize money payment will be made by A/C payee cheque only and winners will need to provide any identification document.
- How much virtual money do I get to buy shares?
Initially you get Rs. 10 Lakh virtual money. You can buy additional Rs 5 Lakh virtual money per week by paying Rs 38.31 (inclusive of all taxes). You can buy only time in a week. Buy wisely.
All virtual money will be flushed out before the start of next competition. The balance will not be carried forward for the next month competition.
- How does the system calculate the profit?
System will calculate difference between your buying cost and selling cost to ascertain a profit. If you haven’t made any sale yet, it will take the closing price as the sale price, deduct applicable charges and calculate the overall profit. You can the highest profit makers in the leaderboard.
- How do I buy and sell shares in the system? Does the system calculate the brokerage charges and DP charges as well?
You need to enter order in the system, whenever you choose a company, it will show the live market depth of that stock, you will have to match buying / selling rate from market depth in order to execute your order. It’s either fill or kill system.
Yes, it calculates the applicable charges just like any stock broker would charge you in the real market trading in Nepal.
- Merolagani.com reserves all rights to make final decision on any matter relating to this competition.
