WHY ARE TRADERS INTERESTED IN BEST FOREX CONTESTS?

How can we win forex contests? This has become a very common question in recent times. Many new traders who crave for winning prizes of forex contests. Their primary purpose is to find best forex contests so that they will have many chances to gain big prize. The multitude of traders are fascinated by forex contests but they do not know how to opt for best ones. Through this article, I will provide you some valuable information that you can find best forex contests. Obviously, you can take part in these contests hosted by both big and small forex brokers. However, you need to make sure that choosing largest forex brokers would be better for you because they are more reliable. In terms of this article, I will give some illustrations about top three forex brokers and their current forex contests. I will give some differences among three best forex brokers, who are Exness, FXTM, and FBS. Their corresponding contests are: Exness Forex World Cup 2018, FXTM Titans, and FBS Pro.

1. The best forex contests come with the best prizes

The prize will be the primary concern of all players. Exness has the largest prize which comes to $120,000 in total for 12 rounds, so they reward $10,000 for each round. FXTM’s total prize is just one third of that, which is $40,000 for 4 rounds, so the prize for each round is the same as Exness. However, the first prize of each round of Exness is only $3000, while FXTM’s first prize for each round is $5000. FBS Pro contest is held every month, so it has the smallest prize, which is only $1000, with the first prize is only $450.

SEE ABOUT BEST FOREX BROKERS

The details of the prizes of each broker are listed here:

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

If you win with FXTM, you can withdraw all your prizes when the contest is over. For Exness, you can only withdraw half of the prize. The other half will turn into your bonus for you to trade at Exness in the future. For FBS, the winner can withdraw all of his prizes when the contest is over.

Tìm sàn forex tốt nhất cho người mới ngay.

2. Pay attention to the rules of the best forex contests

It's not hard to take part in the contest. You just need to open a demo account in the registration period because all contests are demo trading contests. Each broker will provide you with a different virtual amount of money. $100,000 of virtual money will be given by FXTM.

LEARN ABOUT BEST ACCOUNT FOR BEGINNERS

FBS and Exness give you lower, just $10,000 and $1000. The factors that decide the winner of the three brokers are different. For FXTM, your ratio of profits is calculated by the following formula: [Net Profits ÷ 100000] x 100 = XX.XX%.

WHY ARE TRADERS INTERESTED IN BEST FOREX CONTESTS? - 01

If two contestants have the same ratio, the one with the smallest drawdown (defined as how much your fund decreases after it reaches the highest peak) will become the winner. If they still have the same result, the first prize will be shared equally for both contestants. For Exness and FBS, the winner is identified for who made the most during the contest period.

The leverages applied for the contests are different among the brokers. Exness seems to have the best leverage, which comes to 1:2000. For FXTM, leverage is lower, which is 1:500 and FBS contest leverage is only 1:100.

Other rules of those brokers are quite similar:

In contest, each contestant can only open and trade with 1 demo account.
Contestants can only make profit from the initial amount of money that the brokers provide them. They can’t deposit more into the account used in the contest.
After finishing contest, the winners have 5 business days of reply to the email about the prize that the brokers send them.
The brokers all have the final voice if there are any arguments.

SEE MORE MOST RELIABLE BROKERS

3. What is the point of forex contests?

The brokers’ purpose is to invite new traders to experience the best trading conditions that the brokers offer. Via contests, they can attract a lot of new forex traders. If you are a new trader, remember that “Don’t pay too much attention to these contests, just 1 or two contests is enough for you.”

The main goal of the brokers is to attract new traders, so the trading conditions of these contests are really amazing and inviting. In real trading forex, it’s not a piece of cake. A new trader will have a lot of experienced traders who make more money to trade with these brokers in the contests. You are a new trader, so your chance to win against the professional traders is nearly zero.

One or two contests is enough for you to know how these brokers work and have some experience in the forex trading.

4. What to do when entering the best forex contests?

Ignore risk management

When joining the contests, you’re trading demo accounts. You won’t take any risks. You can ignore your usual risk management plans. Your account will be kept safe but they also limit your profit rate at 10% maximum. The low rate is applied in forex contests, so if you want to win, your profitable rate must come to about 10,000%. Because trading is free, so just don’t care about any risks.

SEE MORE TOP LARGEST BROKERS

Choose the highest leverage

The good news is you will win big if you choose the highest leverage. If you lose, you will lose everything. How risky! But you should remember that you’re here to win big and fast, so don’t waste time making little money.

Create several accounts

If you create a lot of accounts, your chance of winning is high. In addition, forex contests are all free to join, so try to create as accounts as possible.

Notice volatile times

You shouldn’t spend all of your time trading for these forex contests. You should expect volatile times like news release to make your move. You can win a lots or lose everything. If you lose, it’s still good because it doesn’t take you too much time for these contests.

LEARN ABOUT BEST FOREX BONUSES

Use your trading bots

You can’t spend all days and all nights trading. An alternative is to use trading bots to help. The trading bot should be safe and reliable. It will take care of all the work.

To sum up, here is the list of best forex contests for you:

FXTM Titans

Exness World Cup Contest

FBS Pro

Source: http://cashbackforex.club/nhan/tkmh?lb=-forex-demo-contest