Virtual Trade tool
CBOE, as part of its ongoing educational initiatives, teamed with one of its member firms to allow investors the opportunity to test strategies without putting money on the line. Investors test either straightforward or more advanced strategies on stocks, options, spreads, straddles and covered call trades.
Some features include the ability for investors to:
- Analyze their performance thoroughly by downloading their positions.
- Set reminders for themselves by using a program notes feature for positions.
- Get up to speed quickly using program links to glossary terms and how-tos.
- Access free live chat support whenever needed.
- "Reset" their account and start over.
The only requirement is that users sign up with CBOE to use the Virtual Trading tool.
CBOE makes the following disclaimer on its site. "The Virtual Trading System accessible via CBOE.com is provided by optionsXpress, Inc. ("OX"). OX is an independent, registered broker-dealer not affiliated with Chicago Board Options Exchange, Incorporated ("CBOE") or any of its subsidiaries or affiliates. OX provides account services and support for the Virtual Trading System. Acceptance and execution of virtual trading orders or administration of your virtual trading account with OX constitutes assent to the OX Terms and Conditions delivered and then posted on the OX Website and in effect regarding virtual trading. CBOE is not accepting or otherwise involved in virtual trading orders or involved in any manner in your virtual trading account with OX."