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SGX and Macquarie partner with Tradehero to drive financial learning
TradeHero, the world’s leading financial learning and stock market simulation app, has partnered with the Singapore Exchange (SGX) to launch the SGX StockWhiz 2015, and with Macquarie Securities Thailand (Macquarie) for DW Hero, bringing financial education and making financial investment more accessible to first-time investors.
The Asset 26 May 2015

TradeHero, a financial learning and stock market simulation app, has partnered with the Singapore Exchange (SGX) to launch the SGX StockWhiz 2015, and with Macquarie Securities Thailand (Macquarie) for DW Hero, bringing financial education and making financial investment more accessible to first-time investors.

 

Dinesh Bhatia, CEO and co-founder at MyHero said: "Almost 3 million users on TradeHero's free-to-download app are millennials, accounting for nearly 80% of its user base. In an era where first-time investors are acquiring financial literacy through gamified apps, TradeHero is playing a leading role in driving financial education. SGX and Macquarie have been quick to see this trend, particularly among millennials. Together, we aim to make learning fun, engaging and comprehensive, in turn cultivating a culture of investment among young investors."

 

A 2014 survey from Bankrate.com found that millennials (born between 1980 and 2000) prefer cash three times as much as stocks for long-term investments. The same study also pointed out that while the S&P 500 has gained 17% in the past year, most cash investments yielded less than 1%. Last year, Capital One ShareBuilder concluded that 93% of millennials lack knowledge on how to invest, making them less confident to do so.

 

With SGX, TradeHero launched StockWhiz 2015, a fun, risk-free way to learn about investing in the stock market. Stockwhiz 2015 is free-to-join and follows the success of StockWhiz 2014 which saw over 15,000 participants. This year, participants can "invest" in more than 400 Stocks, Real Estate Investment Trusts (REITS) and Exchange Traded Funds (ETFs) listed on SGX, in real time. The overall winner, announced after the competition closes on 30 June 2015, will get S$3,000 (US$2,225) cash. Top performers will also get to keep their returns in real trading commission credits, sponsored by OCBC Securities, and stand to win over S$200,000 in prizes.

 

TradeHero and SGX are also co-developing a series of educational video tutorials, covering a variety of topics, including the basics of trading and investing, riding big market cycles and stock valuation. Available as in-app 'mobisodes' on TradeHero as well as on the SGX Academy website www.sgx.com/academy [2], these videos will soon find use among various tertiary institutions to educate students and to promote financial literacy. Over 90,000 people attended events and education programmes driven by SGX Academy and its partners in 2014.

 

With Macquarie, TradeHero launched DW Hero, a simulation game that allows investors to trade virtual derivative warrants (DW). Using real time data from the Stock Exchange of Thailand (SET), DW Hero gives investors a real-time experience of trading DW without using actual money. DW Hero saw over 15,600 participants, with the top 5 winners generating over 100% returns.

 

"The top two percent of traders on TradeHero beat the S&P 500 by more than three times in 2014. By having access to top user's trades, there is a tangible monetary value for people on our app, who can make copy trades in real exchanges, with real money. Our goal is to make real-world millionaires through TradeHero," added Bhatia.

 

TradeHero said it is now the number one finance app in 91 countries, and in the top 10 in 127 countries, with over 3.6 million users.

 

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