Investing in forex trading contests can be a great way to increase your profit margins and learn new strategies. There are plenty of online forex trading sites that offer contests, and they all differ in terms of the rules and prizes. You can find contests on ForexCup, FXTM, LiteFinance, and Dukascopy Strategy Contests.
Dukascopy Strategy Contest
Despite being a Swiss bank, it’s not too surprising that you’ll find a plethora of forex related articles on their website. In fact, it’s a good idea to set up an account with them, especially if you’re looking to get in on the action.
In addition to the usual suspects, Dukascopy offers a suite of contests and promotions. For example, there’s the egregiously named Dukascopy Challenge where you’ll get to trade for cash prizes and bragging rights in exchange for trading in a demo account. There are also other competitions like the FXOpen ECN Challenge and the aptly titled FBS League where you can trade for prizes while also having your say in the ECN arena. There are also many ad-hoc and pre-scheduled competitions for both experienced and newbie traders. The best part is that you can sign up in as little as one minute. In short, it’s a great way to get your feet wet in the FX trading world without committing a fortune.
FXTM
Whether you are a novice or an experienced trader, forex trading contests are a good way to test your skills. You will be challenged to beat others and stand a chance of winning real cash prizes. These are usually hosted by various brokers. Some of the biggest forex contests are hosted by FXTM. They offer several prizes, which are often worth thousands of dollars. The best thing about the contests is that they are free to join. However, you do have to be a registered trader to take part. FXTM is a reputable broker, and it is also one of the most regulated in the industry. The company also offers a variety of online trading products and services. Its offerings include forex education courses and seminars, and free webinars. It also has a nifty Ebook library, which includes educational videos.
The largest of the forex contests at FXTM is the ‘Game of Pips’, which took place in 2015. The ‘game’ is where you compete against other traders to win the top prize. Each of the top three winners receives $50,000 each. In addition to that, a personal training session with Andreas Thalassinos will also be awarded to the winner.
LiteFinance
LiteFinance is a Forex broker that offers a wide range of trading instruments for clients to trade on. They offer stocks, commodities and currencies. They also provide access to the MetaTrader platform. LiteFinance provides a comprehensive set of educational materials on their website and blog. These materials include trading strategies and technical and fundamental market analysis. They also have video reviews and a Forex Glossary. They offer a demo account for new users, which is a great way to get to know the broker.
LiteFinance clients receive a free VPS for their account. This allows them to control their trading when they are away from their computer. The company also has an affiliate program. It pays out 10% of the income of the partner referred to it.LiteFinance clients have the option of choosing between three partnership programs. Each program has its own web-based trading platform. They offer a competitive demo account and real cash prizes for beginners and experienced traders.
ForexCup Trading
Traders can compete for $50,000 in prize money at the ForexCup Trading Championship 2022. This is an annual contest held by FXOpen. Those interested in participating can register for free. The competition is open to investors who have an ECN account with FXOpen. You can use any trading strategy you prefer. However, you must have a minimum deposit of $5,000. The prize includes a personal link with analytics, and you will also be featured on the live leader board. The competition runs from January 1 through December 31. A minimum of ten round turn trades must be completed. The winner is credited with the highest net returns. The top three finishers will be awarded crystal trophies.
The competition is free to join, but participants will be required to trade their own funds. It is not recommended for novice traders. Those who are just starting out can participate with a demo account, while those who are more experienced may want to consider an ECN account.
