They're becoming an important tool for every financial portal. Paradigm initially provided financial tools, including market simulations, to professional money managers, and branched out to serve consumers three years ago. Investment Challenge was started in 1994 to teach investing strategies to college students. Demand for the product spurred the company to start consumer applications two and a half years ago. Online sites have been adding services, such as stock quotes, charting and screening tools to their suite of features in recent years.
Contests also ensure that people keep coming back to the hosting Web site.
We have a fun and playful offering that has a high frequency of use metric. If the game you love is on AOL, it's another reason to stay with us. Another plus is that these virtual contests can appeal to a wide range of investors, from beginners who want to test the investing waters before they actually put their money on the line to advanced traders who want to hone new skills or strategies. Some contests are geared toward specific types of investors. The vast majority of players are getting their feet wet.