I often face a lot of questions about forex contests from my traders: “What are forex contests? How can we win them? Which are the best forex contests?” New forex traders are drawn to the contests to get prizes, the rules and the withdrawal conditions.
This article is provided to compare those factors of the best forex brokers. In addition, I will share some brokers: Exness, FXTM, and FBS with current contests: Exness Forex World Cup 2018, FXTM Titans, and FBS Pro. Some advice is also given for you to profit in these best forex contests.
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What should we do when taking part in the best forex contests?
Risk management is not a big concern
Obviously, you are trading by demo accounts, you should not think of risky situations. You are trading free, you do not need to take the risk into account.
Choose the highest leverage
When you choose the highest leverage, you are likely to win a lot of money. Therefore, you need to determine exactly what you need to do when entering forex contests. In fact, Exness has the highest leverage, which greatly appeals to many traders.
Create many accounts
You should create as many accounts as possible with a view to increasing the possibility of winning.
Use your trading bots
If you want to save your time and effort, you had better make use of trading bots. In fact, the profit rate is only 10,000%, you thus should not spend your valuable time.
Here are the list of current best forex contests for all traders.
FXTM Titans
Exness World Cup Contest
FBS Pro
YOU CAN CHECK IT HERE TO SEE SOME FURTHER INFORMATION ABOUT BEST FOREX CONTESTS.
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Prizes of best forex contests that you should know.
Indisputably, traders are often attracted by some prizes when they join forex contests. They all believe that they will take part in these forex contests with a view to gaining more and more profit. In fact, the total prize of FXTM is $40,000 for 4 rounds. The total prize of FBS Pro is very low, which is only $1000, and their first prize is $450. Exness has the biggest prize, which is $120,000 for 12 rounds.
Here are the table which illustrates the prizes of these forex brokers.
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 |
It is obvious that you have a chance to withdraw all your prizes when you win the contest hosted by FXTM. You can withdraw your half of prize when you win the contests offered by Exness. You can gain the rest of your prize when you trade at Exness.
CLICK HERE TO CHECK SOME PRIZES OF FOREX CONTESTS.
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Is it important to follow rules of best forex contests?
When you decide to enter this competition, you just need to have a demo account. Due to the fact that they are demo trading contests, you do not need to pay much attention to the rules. It is very simple for you to know some basic things about this. After opening an account, you will be provided virtual amount of money from best forex brokers. Unquestionably, they will give you different virtual amounts of money. You will receive $100,000 from FXTM broker. In terms of FBS and Exness, they give you less amounts of virtual money than FXTM. It is transparent that the leverages applied for contests will be different among these brokers. Many traders prefer to choose Exness because they have the best leverage, which is 1:2000. FXTM and FBS have lower leverages, which are 1:500 and 1:100 respectively.
Some other rules of those brokers:
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Traders can only get profit based on the amount of money provided by brokers at the beginning. They have no chance to deposit more.
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When you win the contests, you have 5 days to inform your broker’s about the prize.
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The brokers all have the right to solve something when arguments happen.
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Each trader open and trade with 1 demo account in the contests.
CHECK IT HERE TO SEE MORE ABOUT THE LEVERAGE OF EXNESS BROKER.
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The main purpose of forex contests.
In fact, the chief purpose of providing traders these contests is to attract their attention. Basically, brokers have a tendency to make use of something which appeals to traders. On the other hand, it is advisable to do not care much about these contests. It is simply because you have roughly no chance to win these competition in reality. The only useful thing when you enter these competitions is to have a good insight into the operation of those forex brokers.
Normally, experienced traders are dominant over new ones, so they can win these contests.
CLICK HERE TO FIND MORE DETAILS ABOUT THE PURPOSE OF OFFERING FOREX CONTESTS.