Finance

WHAT SHOULD WE EXPECT FROM THE BEST FOREX CONTEST?

I can guess without thinking that Prize is the first traders expect front the contests. Both experienced investors and beginners would look for money first when they see the contests. However, besides that, contests give us skills in the battles that we barely experienced in real trading. Hence, they are worth a try. That’s why I bring on the table top of the best forex contests at the moment in this article.

Check out the best forex contests in 2019.

In my opinion, you shouldn’t focus on taking contests. But, making a couple of times wastes you nothing. You should take contests hosted by the best forex brokers.

  1. Purpose of forex contests

Brokers open contests because they want more and more traders. By hosting contests where trading on the forex market happens in the most desirable and best conditions, they created a belief and credit from attendants and those new traders might think about trading with the host in future. However, in facts, trading is not as easy as in contests, and there are no risks in this type of competition. Therefore, many new traders can bump into unexpected situations frequently when they do real trading.

Moreover, many experienced traders participate in the contests for the awards. And, yes, the game becomes harder.

Hence, I advise new traders not to hope much about competitions. I understand the prize appear super inviting. Nevertheless, you ‘ve got almost no chances without experience.

  1. The best contest to choose

Among many contests happening at the moment, there are three from FXTM, Exness, and FBS which, in my opinion, new traders can learn something from regardless of losers or winners. They are also the best brokers in the field at the moment.

  1. FXTM Titans
  2. Exness World Cup Contest
  3. FBS Pro

These three top contests offer the fairest and easiest conditions which enable even beginners of the field to gain prize at some point.

  1. The best prize

They give a huge amount of money for winners even the participants are just demo accounts.

FBS granted $1000 in total every month for contests. The person who performed the best will take $450 for himself.

FXTM presented with $40,000 of prize for total 4 rounds. $10,000 is prized for each round. Exness offers the same amount for each round, but Exness has contests happen in 12 rounds.

For the details of the prize, please refer to the following table:

Broker’s name Number of rounds Detailed prizes for each round
Exness 12 1st place – $3000

2nd place – $2000

3rd place – $1000

4th and 5th place – $500

FXTM 4 1st place – $5000

2nd place – $2500

3rd place – $1200

4th place – $800

5th place – $500

FBS 1 1st place – $450

2nd place – $250

3rd place – $150

4th place – $100

5th place – $50

 

  1. The highest withdrawal rate

Winners of Exness World Cup contest can withdraw half of the money they won, and the rest will be given for them in the account, and they can start trading without a deposit.

FXTM and FBS let winners take everything they got from the contests. FXTM is the best for me at this point.

  1. The Easiest Rules

Besides regular terms and conditions what traders can find in any brokers such as:

  • The demo contests are opened for demo accounts and each attendant use only one account.
  • Participants can trade by virtual money, but they are not allowed to invest more
  • When the winner’s decided, they must confirm the prize, usually in five days, or they miss the money.
  • If disagreements happen during the contest, brokers are the deciders.

Three above brokers give you more than usual regarding:

–    Virtual money. FXTM offers fighters $10,000 for each. Exness and FBS offer less.

–    Leverage. The leverage helps traders to win big. You can trade with a leverage of 1:2000 in Exness, 1:500 in FXTM and 1:100 in FBS.

Moreover, they are all the most reliable brokers for new traders. That’s one of the reasons why I recommend them,

Find more reliable forex brokers.

  1. Tips to pull the contests off.

As I mentioned above, what happens in contests is not like in real transactions. Hence, something you must do differently from usual.

1, Do not stop with an account

Because you are trading free and no one check you demo accounts, register as much as you can. More accounts mean more chances to win.

  1. The risk is out of sight

Demo accounts and virtual money help you to trade risk-free. Do not save your fund, do as much trading as you can to raise the profit ratio. To FXTM, it’s the decisive factor to win and for Exness or FBS, those who made the best win the most.

  1. Highest leverage is the first choice

The leverage maximizes the loss and gain. Therefore, finish the contest in the fastest way. After all, it’s not your money which lost.

  1. Trade before new release time

It’s a gamble, but you should do it to maximize your luck. And do not delay if you can finish.

  1. Why not trading bots

It’s such a chance to tests trading bots. You are in the risk-free situation, and the trading bots can maximize your trading and enhance your ratio of profit unto 10,000% (which is the required ratio to win in usual contests). Meanwhile, if you do trading by yourself, they’re not enough time and even speed to reach the point.

In general, I could tell you that contest can give you money as your most wanted prize after all. But, in case of contests are not there to tell you how’s real transaction happens, I’m here to cheer you up. At least, contests provide you time to try strategies that you think of or testing your robots. You are given a free chance to trade and to lose nothing but time. I think it’s fair enough. However, find the best brokers to experiences their tests. The largest usually becomes generous about the prize.

You are reading an article from Brokersguru. Brokersguru is a forex review website based in Thailand that is specialised in forex brokers and forex-related topics. An expert in forex trading, Mr. Bruce Kovner, is currently a collaborator with Brokersguru.

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