BEST FOREX CONTEST OF LARGE BROKERS

 There are a lot of matters traders should care when they first step into the forex field. And one of them is the forex contest. This may sound interesting and harmless but the point is that brokers can have their own plans and aims to open these contests. Then what to be conscious about when join in the forex contests? The main things are the amount of prizes, the conditions for withdrawal, and some important rules. More importantly, to make sure you are trading safely, trade with reliable brokers, which are largest ones, not small ones. Below is detailed information about aspects for traders to review before taking part in any forex competitions.

1.    So what do you miss when focusing on the prize?

I think you’ve missed the purpose of those contests. You forgot to ask why brokers can host such a competition and give you a prize even though you are using a demo account.

I could tell you that. Brokers hold contests because they want to attract new traders. By illustrating trading on the forex market in the most desirable and best conditions, they created a belief in new traders. Beginners start thinking that dealing with the host is easy and straightforward. However, in facts, trading is not easy, and new traders can bump into unexpected situations frequently.

Moreover, experienced traders participate in the contests, too since they want the awards. And, you should know, the completion becomes harder.

Hence, I advise new traders not to pay too much focus on competition. I understand the prize appear super calling. Nevertheless, you ‘ve got almost no chances without experience.

On the other hand, I would love to recommend you to take part in some contests if you want to have more fun and challenges. Let’s move on, and I have got some tips for you.

2.    How to perform the best in forex contests?

Register many accounts

You are trading with, and each of them is a life count. The more account you have, the more lives you have in the competition. Why don’t you create more than one? They are free.

Don’ t care about risk

Because traders can make transactions without cost, the risk is almost nothing. It might sound nonsense to beginners because every trade contains risk. However, new traders open demo accounts, and no risks come up at all. Besides, if traders do not make any lots, the profit rate is 10% maximum while in forex, 10,000% profit rate unable traders to win in the contest.

The highest leverage is the best

The more leverage is, the more you win. However, you lose much if you perform poorly. However, as I said above, you are trading free, there’s no risk at all. Just do it quick and hard then complete the contest as speedily as you can.

Take advantages of volatile times

Experienced traders usually make the transaction right before the news release even though doing so can take everything they’ve got away. But in business, no pain means no gain.

In the worst way, you lose everything, but at least, you do not spend too much time with just-for-fun contests.

Try trading bots

Trading bots help you to take care of trading 24/7. Trading as much as you can to increase profit rate up to 10,000%. Because there would be no risk in trading contests, do not worry if the trading bots make something dangerous. Besides, it’s a good chance to test the trading bots.

Nevertheless, why do I still motivate you to take some contests in your first days in forex?

Because, in the market, there is still some contest which is the best chances to earn prizes. Top best forex contest I would like you to consider is as below:

1.    FXTM Titans >>> Join now.

2.    Exness World Cup Contest >>> Join now.

3.    FBS Pro >>> Join now.

3. So what do they offer in their best forex contests?

1.    Best price

Those who provide the largest prize are the best to look at.

Exness offers the best price of $120,000. There are 12 rounds to beat up. The winners of each round gains 10,000 in total.

FXTM has four rounds only with $10,000 of prize for each. In total, the award seems smaller than Exness.

FBS launches contests every month with the fixed award of $1000 in total. Among them, the first place wins $450.

You might want to find out details in the table below:

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

2.    High withdrawal rate

FXTM and FBS allow winners to withdraw everything they won from the contest. Meanwhile, winners in Exness World Cup contest can withdraw half of the prize. The rest will come to traders’ account for the further transaction in future.

3.    Easiest Rules

In general, traders need demo accounts to compete in the contests. When they start, brokers give them virtual money. Each broker offers you different amounts, such as FXTM’s virtual money is $100,000. However, deciding factor varies.

FXTM decides winners by profit rate. They calculate the rate by formula [Net Profits ÷ 100000] x 100 = XX.XX%. Leverage in FXTM is only 1:500

Exness and FBS choose people who made the most in the contest to be winners. But Exness offers 1:2000 of leverage while FBS’s is only 1:100.

Besides, there are some standard rules for any brokers:

•    Only one demo account is allowed for competition.

•    Only virtual money is permitted to trade in the contest. No personal investment is accepted.

•    Winner must confirm the prize in 5 working days, or they miss the payment.

•    Brokers are people who can speak for any disputes.

Find the top forex brokers reviews.

To sum up, I must say, It’s not an easy game with forex contests. Even with the best forex contests provided by the largest brokers, you should not put in too much hope. I suggest new traders attend couples of games. After that, focusing on real transactions, Don’t let contests waste too much of your time.