The Rules And Prizes Of A Forex Trading Competition
You may be wondering about the Rules of a Forex trading competition. Then, you will learn about the Prizes offered. Ultimately, you will get to earn a prize if you win. Whether it’s a live competition or a demo contest, this article will help you get started. We’ll also discuss the prizes offered in Forex trading competitions.
Rules of a demo contest
Before you decide to join a Forex trading demo contest, there are certain things you need to know. First, you should only sign up for the contest if you have a demo account. You also need to comply with certain rules before joining the contest, such as no withdrawals until the competition ends. Failure to follow these rules may result in disqualification. Second, you must choose a reliable broker. The best way to find a reliable broker is to look for one that is regulated by a regulatory body. This will ensure that the broker is genuine and will not cheat you out of your money.
The rules of a Forex trading competition will vary according to the broker and the platform you are using. Most forex demo contests use the FXCM UK MT4 demo trading platform, which provides access to products unavailable in some jurisdictions. Each participating demo account begins with a balance of $50,000 and 200:1 leverage. Before the competition begins, all trading is restricted in the demo accounts. Participants can use any strategy they wish, except for full withdrawal. However, they can close their demo accounts partial if they choose.
Forex trading competitions offer various prizes. During the contest, participants are required to trade in selected assets and must use the Trading Station Platform or the MT4 demo contest credentials. They will be disqualified if they make margin calls or if their account balance falls below 50%.
For the first prize, the Participant must have made a profit of at least ten thousand US dollars per month. If he or she fails to meet the requisite requirements, the prize money is forfeited. If the Participant has won the contest, he or she must have achieved the maximum profit level within one month and not have exceeded the maximum loss limit of 100,000 USD. However, the Participant is not entitled to more than one prize per month. The winners must also have a verified live trading account. Moreover, the winner must be a verified live trader and accept liability for any activities on the account opened by the contest administration or himself. The winner can withdraw the profit amount in full after the contest period ends.
Rules of a live contest
A forex live trading contest is a great way to test your skills, while also increasing your chances of winning prizes. Although forex live contests are fun, you should always use caution and stick to your strategy. By trading smartly, you can maximize your chances of winning and gaining valuable experience.
All Participants are required to create a demo account before entering the contest. There is an initial deposit requirement of USD 40000. Participants can only trade major currency pairs and forex crosses. The minimum trade volume is 0.01, with a maximum trade volume of 10 lots. Participants can choose to make their trading account Swap-free if they want. If they’d like to register, they should close all open trades before the contest begins.
Rules of a forex demo contest
While forex demo contests differ from one another, there are some common features. Most brokers have certain rules that must be followed, such as eligibility, trading hours, and prize redemption. Typically, all participants will begin the contest with the same balance, but this can differ from broker to broker. Some brokers will not allow more than one account from the same IP. Some brokers may also restrict the withdrawal of winnings from the demo contest.
It’s important to choose a reliable broker. You don’t want to end up losing money in a forex demo contest, so you’ll want to select a broker you can trust. Choose a platform that’s easy to use. Web-based platforms are usually best for new traders, but don’t overlook the power of application-based trading platforms.