When you make your first deposit on Football Index, you have the option of choosing from thousands of potential footballers to add to your portfolio. There are all sorts of reasons for you to buy futures in a player, but whatever your reasoning the ultimate aim is to see your portfolio growing as your players rise in value!
Finding your players
When searching for players, you can either choose from the ‘Top 200’ which are the 200 most valuable players on Football Index, or you can choose from ‘Squad Players’ which make up the remaining players. Each day, players are either relegated or promoted from the Top 200 depending on their value at the end of the day.
The reason for the difference is that only the Top 200 are eligible for Media Rankings dividends whereas all players on Football Index are eligible for Match Day Rankings dividends.
Buying a player
Once you’ve found a player at a great price that you think has the potential to make you some cash, you have the option to click the blue ‘Buy’ button. At this point a screen will appear and you will be asked to select how many you want to buy. You can either set a quantity that you wish to purchase, or you can hit ‘Buy Max’ and it will automatically calculate the maximum number of futures you can buy in that player based on the funds available in your cash balance.
Once you hit buy, you can view the player in your portfolio. You can check on the progress of your portfolio at any time to see if the player has risen or fallen in value since you purchased them.
Selling a player
If you decide that you no longer wish to have a player in your portfolio, you are able to sell the player and have the proceeds of the sale returned to your cash balance to fund new purchases.
When it comes to selling a player you have two options:
- Instant Sell – When viewing a player in your portfolio, a red ‘Sell’ button is present with a value above it. This means that if you want to immediately sell your players, this is the price that Football Index will pay you for your shares.
- Market Sell – When you click ‘Sell’, a button will appear that says ‘Join Sell Queue’. This means that you are able to list your shares in a queue for other traders on Football Index to purchase. Instead of selling at the lower ‘Instant Sell’ price, once your shares are sold, you will receive the higher ‘Buy’ price at the time of sale.
Whichever option you choose, it is important to remember that Football Index take 2% of commission from every sale you make.
You have 10 futures in Paul Pogba.
Current prices are:
- If you instant sold you would receive £98 minus 2% commission (£1.96) = £96.04
- If you market sold you would receive £100 minus 2% commission (£2.00) = £98.00
The issue to consider when market selling is that it relies on there being a demand for that player. If nobody is buying futures in a player, he could remain unsold for quite some time. This must be taken into account when considering whether it is more cost effective to free up cash instantly as you spot a better opportunity, or whether you are able to wait longer to achieve a better price for your sale.
As soon as a sale is completed, the funds will be available in your cash balance and you are able to reinvest this into the market.
The best way to learn about the market is to experience it first hand and see if you can put your football knowledge to great use and make money on the world’s first football stock market. With Football Index’s 7 day risk-free trial, you can try your hand at making money safe in the knowledge that any losses within those 7 days will be refunded up to £500!
Don’t forget to view our other articles and watch our videos to learn more about Football Index!
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