I saw some adverts for stock exchanges in-game. Naturally, I was sceptical and wondered at the legitimacy of the systems.
I did some research on google, and found surprising some interviews with some of the larger exchange owners with reputable magazines online discussing Second Life's economy (Wired, etc).
After doing some reading on the main ones, mergers, etc, I found "International Stock Exchange" to be the one I was attracted to the most.
My biggest worry, that you pay the ATM in world, and the owner simply takes your money...but I also thought with gambling recently squashed, the owners wouldn't want to deal with the Lindens on this unless it was a fly by night operation.
So this one has been in operation more than half a year and I couldn't find any negative posts...
I pay the ATM $1 L.
I can invest that if I like, I try to withdraw it again, and $1L is now in my funds in-game, just like that, well that's comforting.
So the ATM appears legit to the full function of pay, and withdraw.
Next I review some stocks, and buy some. Let's just say I spent around 10k L.
In two days I sold and made above and beyond it all 2000 L .
I had no problems withdrawing, I did have to pay about 10% to the owner on the amount I had made on my investment ($200 L ) after the sell.
But all in all, I'm happy to say it's not a scam it works. The stocks go up and they go down. As well many of the company owners, if you research them, are large enough that they have online discussions with SL websites or economy articles.
Just happy to report no bad experience and all in all, if you like stocks, and know the risks, it's fun.
If anyone is interested in checking it out here's were I had my experience;
http://www.intlstockexchange.com/
There's a link to find an ATM in-game you can click off their website and it will teleport you.
My hot picks right now are LIF and DWF personally, they both jump between 60 cents and $1.75 a stock, with both forecasted to hit a few dollars a share ($L of course) this early second quarter.
Happy playing
If anyone has any other experiences feel free to share.