Forex Competitions List
Table of contents
Forex Demo contests are quite popular among the traders. It is certainly a nice game to play and get your mind out of stress, while you are doing the thing you love the most – trading. With a great variety of demo contests out here, traders may often find it difficult to participate in the proper contest. As we know, usually the contests are sponsored by a broker and it can be quite time consuming to register an account with every single broker on the market. On this page we will explain you what Forex demo contests are and we will also tell which one we feel is the best.
What are Forex Competitions?
Demo contests are mostly organised by the brokers to gain additional market exposure and receive new leads – contacts of the traders. This is why brokers often make attractive prizes to get new traders into trying their trading accounts. Almost every legitimate broker organises it is own trading contest and rewards the traders with the prizes. Hence, many traders could ask, what trading contest is the best one?
Best Forex Demo Contest
ForexBall has been one of the most well-known demo trading contests for years. Within the last 2 years it have hosted over 100 trading rounds and more than 25 seasons. In addition to this, ForexBall has launched quite some Special Rounds. The latest special round was won by a trader who was awarded w 000 USD of prize money with no strings attached.
What made ForexBall so good? First of all – it never stops, except of the weekends. ForexBall is the contest that begins every monday and ends every Friday, this way traders can experience full 100 hours of a great competition. In addition to this, ForexBall has quite a transparent system of the prize distribution, every top 3 winner is granted a prize account that could be used for trading and the initial balance with all of the profits can be withdrawn after a certain volume has been reached.
Unfortunately, this is also one of the most criticised contests, as many participants were not happy with restricted participation (you can only participate 4 times without having a live account with one of the sponsors) and also a few winners were complaining about the withdrawal restrictions. Here you can read about the winning strategy at the various Forex contents.
What are the alternatives?
At Best Broker Bonus we try to review only the legitimate contests that are actually paying the prize money. Browse the table above to find out the best FX competition for yourself. In general, the following are the items you should be looking at when choosing your next place of participation:
Forex Contest Duration
There are some contests that last for months, would you like to commit for so long? Some traders would already prefer long-lasting competitions, as they make the chance of winning the contest by luck smaller, however if the contest lasts for six month – this may be just too much of a commitment to make. We would recommend you to look for the contests that last somewhere between 1 week and 1 month.
Forex Championship Prizes
When it comes to participating in the contest, we of course know that it is a lot of fun, but the main point of the participation is to win. This is where sometimes thing can get tricky. Some brokers will post just withdrawal conditions which you cannot reach at all. In most of the cases you should either settle for the contest that offers prizes in cash or the one that has crystal clear terms of withdrawing your prize.
Forex Trading Contest Demo vs Live
At this page we are only reviewing demo contests, as we do feel that live contests are designed only for advanced traders. As we are mostly trying to educate the beginners in FX trading and make sure such prospective traders can have a smooth start – we are simply avoiding the reviews of Forex live contests.
