I am a lucky man who has three daughters that treat me like a king (in my dreams…).

They are of an age where they have jobs and need to consider how best to save for the future. In fact one of them worked as a temp recently for a financial consultancy and saw that a lot of people have money tied up in shares. She told me that she might do some investing herself.

I’m all for encouraging not only her but her two sisters as well. The problem is that financial subjects just don’t seem that accessible to young people and it’s difficult for them to really understand how the whole business works.

Well perhaps now there is an answer. I was contacted by a young lady from Kapitall. She explained that the site has been set up to help people get a better understanding of the world of investing. They are doing this by creating an easy to use interface that has some great features.

Tipping their hat to the social media generation the site is already Facebook ready so when you join up you can quickly let all your friends know about it.

On the Kapitall site you can create share portfolios and track how they perform over time. Don’t worry you won’t be risking your own money as it is all virtual. One word of advice, there’s a short quiz available that will indicate the type of investor you are. Once completed it will suggest the type of portfolio that might suit you best. This is a great starting point.

When you have a portfolio set up why not invite friends to create one and have a competition to see who does best. Once you’ve chosen your investment areas you’ll be able to follow the latest news on the companies you’ve chosen right on the site.

The whole experience is quick and easy to learn and I can see that people who may have been put off by the rather conservative approaches taken by other websites may well find Kapitall a refreshing change.

Recently they reached agreement with TD Ameritrade that allows TDA clients to access their account directly via Kapitall. The one drawback I see for my own daughters is that live trading is only available to US citizens.

This is disappointing but it doesn’t stop them creating a virtual portfolio and getting better acquainted with the whole world of investing so I shall be recommending Kapitall to them without hesitation.