Wealthbase Review: An App That Helps You Learn To Invest

Wealthbase is an app that teaches you how to invest – without the real-world consequences if you’re wrong. Consider it a marriage between digital gaming, social media, and investing. You can simulate trading stocks, chat with friends, and conquer the leaderboards with your investing savvy. Let’s take a look at what else Wealthbase has to offer investors and gamers alike.

Anna Yen   Updated January 28th, 2022

Summary

  • Minimum: $0
  • Fees: free for up to 5 players, $20 game fee for large games with up to 1,000 players
  • Account types: virtual portfolios with $100,000 in fake cash to start
  • Investments: stocks, ETFs, cryptos

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What is Wealthbase?

Wealthbase first launched in 2019 as an online and app-based stock market trading simulator. It allows “paper trading” or buying and selling stocks, ETFs, and cryptos with fake money. You can compete with your friends and learn about the stock or crypto market at the same time.

There are a few paper trading platforms out there, but this market simulator goes a step beyond by turning investing into a competition.

With Wealthbase, friends, clubs, and even brands can launch games, invite players, and publish leaderboards. The app boasts a sleek, modern design and social features like in-game chat.

Plus, with the built-in education hub, gamers and investors can learn about topics like:

  • The stock market
  • Investing strategies
  • Personal finance and financial planning

Setting up your Wealthbase account is easy – all you need is your name and an email, Twitter, or Facebook account. From there, you can host or join a game to start trading. (Note that Wealthbase lets you play as many games as you’d like at once. But if you’re playing a free game with friends, each game is limited to five players or less.)

Looking for a real brokerage account? Compare top brokers

Fees

$0 for stocks, ETFs

Investments

Stocks, ETFs, cryptos, IPOs

Best for beginners

Fees

$0 for stocks, ETFs

Investments

Stocks, ETFs, cryptos

Best for social investing

Fees

$0

Investments

Stocks, ETFs, expert portfolios

Best for self-directed investing

Fees

$3-$5 / month

Investments

ETFs acorns selects

Best for hands-off investors

How does Wealthbase work?

Wealthbase gives every player $100,000 in fake cash to start. With this money, investors can build their portfolios by picking stocks, ETFs, and cryptocurrencies. All prices are kept up to date thanks to data provided by Nasdaq, allowing players to enjoy a “real world” experience. You can:

  • Track your investment performance
  • Share your investment rationale with your friends or other competitors
  • Compare your performance with other players and real-world indices
  • Use the activity feed to brag about your status, post trade ideas, and comment on market performance

At the end of each day, you can check your total return and see which positions netted the highest profits. Then, at the end of the game period, you can see how well you fared.

However, the Wealthbase experience changes slightly depending on how you play. While playing with friends is quick and easy, it’s not the only way to enjoy simulated trading. We’ll look at each game type below.

Games with friends

Friends Games allow up to 5 friends to compete in simulated investing games. Each game is kickstarted by a “game creator” who also participates in the fun. Friends Games have a maximum time limit of 15 days, and, while free to play, do come with ads.

Club games

Larger friend groups, schools, and investing clubs are invited to sign up for Club Games. This game mode permits up to 1,000 players to play for up to a year.

Club Games also offer perks not found in the Friends Game option, such as:

  • Advanced trading strategies
  • Market Buy, Limit Buy, and Stop orders
  • Customized game titles
  • Game controls (available to the host)

Each Club Game costs $20 upfront plus 5 cents per player per day and is completely ad-free.

Brand and sponsored games

Wealthbase also gives brands, influencers, and sponsors the opportunity to offer public trading games to reach new audiences or promote office camaraderie. Brand and sponsored games last up to one year for up to 10,000 players and come with perks like:

  • Brand logos and ads
  • Awards and prizes
  • Customized titles and game controls

While Brand and Sponsored Games are free to join, they aren’t free for the host. (Pricing varies.)

Wealthbase game rules

While each game mode comes with slightly different options, all games share a set of default rules. These rules promote the best investing practices and simulate the real world as closely as possible. Some of the most important rules include:

  • Starting cash balances. Every player begins with $100,000 to invest, regardless of the game type
  • Market limits. Players can simulate investments in stocks, ETFs, and cryptocurrencies. However, Wealthbase doesn’t list stocks trading at or below $2 per share to avoid promoting potentially irresponsible trading practices. Penny stocks can be very volatile
  • Commission. Stock and ETF trades carry no commissions or fees for any players. Indeed, nearly all U.S. brokers now offer free trading in stocks and ETFs. However, crypto transactions cost 0.15% per trade to simulate the real-life trading experience
  • Investment limits. Players can only invest up to 20% of their virtual cash portfolio in a single investment, including shorts. This is done to promote responsible investing and encourage traders to diversify
  • Volume limits. No player can purchase over 10% of a stock’s daily share volume in a given trading period
  • Interest on uninvested cash. Players’ “cash” holdings earn daily interest paid out at the end of the month. By default, the interest rate is set at 1.5%. In this case, Wealthbase departs from the real world where not even high yield bank accounts offer that much

Looking for a real brokerage account? Compare top brokers

Fees

$0 for stocks, ETFs

Investments

Stocks, ETFs, cryptos, IPOs

Best for beginners

Fees

$0 for stocks, ETFs

Investments

Stocks, ETFs, cryptos

Best for social investing

Fees

$0

Investments

Stocks, ETFs, expert portfolios

Best for self-directed investing

Fees

$3-$5 / month

Investments

ETFs acorns selects

Best for hands-off investors

What can you invest in with Wealthbase?

Wealthbase lets players make simulated investments in stocks, including American Depository Receipts (ADRs), ETFs, and cryptocurrencies.

Aside from crypto, investments are typically limited to those that are listed on the NYSE, NASDAQ, and BATS exchanges. That said, Wealthbase excludes all stocks trading at or below $2 per share (penny stocks) to promote responsible investing.

Is Wealthbase free?

Wealthbase is free to play with friends or as an invited member of a club or brand game. Those who want to sponsor club games will pay $20 per game plus five cents per player per day. Brands, influencers, and sponsors can reach out to Wealthbase for private quotes on larger games.

💰 Is Wealthbase right for you?

Wealthbase is a user-friendly paper trading app that lets you “trade” real-world stocks, ETFs, and cryptocurrencies. Whether you want to build investing confidence or just best your friends, Wealthbase lets you learn and have fun without investing a single real dollar. If you’re just getting a small group together to compete with your friends, the experience is completely free.

🔔 Interested in investing real money? Check out the top 10 investing apps.

NOT INVESTMENT ADVICE. The content is for informational purposes only; you should not construe any such information as investment advice.

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