What are the trading contests?
The trading contests are a tool implemented by some brokers, including Forex brokers, to attract new traders and encourage existing customers to trade more constantly. The competition that exists in the sector between dozens of these companies has made that some brokers develop new strategies to attract potential investors. In this ways these contests are a very effective promotional tool. Basically, these are competitions among traders interested in the Forex market and/or other financial markets where the competitor who gets more profits in a given period of time becomes the winner of an award that may be of various types:
- A cash prize credited to the trader´s account if the competitor have an account with the broker that organizes the contest. If the trader does not have an account, the company will open one immediately and the trader can use the money earned to trader in the market or can retire it if desired. In some cases, the broker gives the competitor the option to withdraw the prize won directly without having to open an account. These are competitions organized for both demo account and real trading account users.
- A real account with a certain amount of money deposited in it. These are contests created for potential customers who have opened a demo practice account with the broker.
- The possibility to manage a real account from the broker that organizes the contest that in some cases can be up to $50000
Depending on the broker, the rewards can be quite attractive so these contests offer an opportunity that cannot to be missed. Among the trading contests organized by Forex brokers there are two basic types:
- Forex Contests for customers with a real trading account: These contests are organized for traders who have a real trading account with the broker, and their objective is to encourage these investors to perform trades regularly in order to win prizes in cash. These competitions can last from 1 week to several months and in most cases the customer do not need to pay to register, but at least he must have a trading account with funds.
- Forex contests for customers with a demo account:: These are contests to attract new customers and are made for those traders who open a demo account with the company. Usually the prize for first place is the opening of an account with a certain amount of money deposited or the administration of a managed account. It is an excellent option for those traders who want to test the trading platform of a particular broker before investing real money. These competitions allows to practice and gives the opportunity to win prizes.
The following is a list with the major Forex trading contests:
The Forex broker RoboForex from New Zealand (regulated by the FSRP) regularly organizes trading contests for live accounts and demo accounts which offer prizes for the winners. Through these competitions, this broker's customers can increase their income from their regular transactions in the Forex market. In the case of tournaments for demo accounts, the competitors have the possibility to earn money without any risk because the
Continue reading Trade Day and KingSize Trading Contests of RoboForex
A new trading contest for demo accounts, known as Forex Chamspionschip Demo Contest, offers traders the opportunity to practice their trading strategies and get great prizes without risking money in the process. It is a contest sponsored by the company RTFX Financial Services.
The main features of this trading contest are:
Continue reading The Forex Championship Forex demo contest
The Forex & CFD Broker XM (formerly XEMarkets) offers a number of trading contests to its clients through a specialized platform. Through XM you can access dozens of trading competitions which offer cash prizes for the winners. Each contest has its own characteristics in terms of trading instruments, duration, amount to participate, number of participants and prizes for the winners.
Below is shown a picture of the platform Contest Arena of XM:
Continue reading Trading Contests Arena of the Broker XM
The Forex broker MFX Broker offers a number of trading contests for its customers which offer cash prizes to the winners. Each contest has different characteristics, which means that traders of all profiles can find one that suits their needs. For example, there are competitions for demo accounts and real accounts.
The main features of the trading contests of MFX Broker are describen below:
Continue reading MFX Broker Trading Contests
The Forex broker XM (regulated by CySEC and FCA), is organizing a trading competition quite interesting for gold and silver traders who trade with these precius metals in the spot market. This is a contest for demo accounts (the risk of loss for participants is zero), which offers prizes for the to the top 20 traders up to $2,750.
Demo Accounts Competition for gold & silver of XM
The Forex broker IFC Markets has implemented a trading contest for real accounts which offers prizes to the top 5 places. In total, this competition divide $5500 between the winners and each round has a duration of 1 month.
Continue reading Trading Competition Rally Trade of IFC Markets
The Forex broker XM (formerly XEMarkets), has created a trading competition for demo accounts (practice trading accounts) which offers exciting cash prizes for the top places, such as $2,500 for first place.
-Registration Period: July 15 to August 15, 2013.
-Competition Period: August 1 to August 30, 2013.
Continue reading Trading Competition for Demo accounts of XM
The broker HotForex has announced the creation of an interesting trading contest (for real accounts) for all clients which offers valuable prizes to the winners. The contest winner and a friend will get a trip with all expenses paid to the Mediterranean island of Cyprus, where they will enjoy accommodation for 3 nights in a 5 star hotel. Also, the winner will be invited to the offices of HotForex where he will receive a trading course of four hours
Continue reading Trading Contest VIP of HotForex