It’s almost a month since C Trade Fantasy went live. This means we will be seeing the first batch of players to win the promised monthly prizes soon. There remains the large prize of over US$1000 worth of ZWD to be won in 6 months too.
The prizes are good and all but the actual prize in my view is that of familiarising oneself with stock exchange trading. Many were excited about that too and wanted to take advantage of the opportunity but apparently did not know how to start. We have been getting the questions.
Let’s go through how exactly you can play C Trade Fantasy. Do note that both existing and new C-Trade registrants can play the fantasy game.
Register for C-Trade
You can register via the C-Trade app or via the web. You will need to have a bank account to complete the process. If you don’t have an account you will be happy to know that while the account opening process is still a pain, it’s now much easier with banks actually competing to get your business.
When C-Trade Fantasy was announced we were promised that C-Trade themselves would help people open bank accounts. In practice, C-Trade says people can just “download the Nedbank app, and click on ‘create account’ then fill in all the required details, alternatively they can visit the nearest Nedbank branch with a copy of ID to open a bank account.”
It really is that easy to get a bank account now and you don’t have to go with Nedbank if you don’t want to. Any account will do.
You have a bank account, now what?
Open the app or visit online.ctrade.co.zw. Fill in the usual stuff, including address, phone number etc. You will need to upload a profile photo and your national ID so make sure you have those copies.
Don’t be stumped when asked to pick a custodian. Just pick one from the drop-down menu and proceed. Reminder: a custodian is a specialized financial institution responsible for providing services that ensure the safekeeping of investors’ securities. You need one to register.
Once you’re done with that you will be asked if you want to play the fantasy game or do live trades. Pick the fantasy option and you will be taken to your demo account, brimming with ZW$1,000,000 in available virtual cash.
Once you get to that point, it’s now up to you to pick out the stocks you want to purchase. Do your research and treat the demo money as actual cash and see how you would have fared had it been the real deal.
If you somehow missed the prompt to pick between fantasy and live games, fret not. There is an unmissable flashing button on the web which you can click to easily switch from one mode to the other.
On mobile, you just click on the menu button and the option to switch should be there.
As regards the strategies you will be employing, C-Trade said they would be offering some free professional training and ongoing coaching. It may not be exactly what you were expecting the training to be but here is what C-Trade told us about that training:
C-TRADE is having a program on Heart and Soul TV every Thursday at 2pm where capital marketsC-Trade
are discussed and a Market Expert touches on aspects to do with investing and gives investment tips.
Anyone can access the program and learn the ropes of investing.
If that’s not enough, which it won’t be, you will actually have to do a little research yourself. If you are serious about learning to trade you will do this.