Before you can participate in a Forex demo trading contest, you should know the basic rules. These rules include the philosophy of the contest, prize structure, and registration period. If you want to participate, you must register in advance. Many brokers keep long registration periods. So, it is crucial to register early so that you can make the most of the contest.
Rules
A forex demo trading contest is a great way to learn about the real market, and it allows you to test out different strategies. Trying these strategies out on real money is risky, and you could lose huge sums of money if they don’t work out. Some brokers will have different types of demo contests, so it is important to choose one that suits your needs.
Participants are provided with a DEMO account. Their rating is initially set to 1000 points. Then they must purchase either call or put options on an instrument. They must also specify the time they wish to open and close the options. The time they set for opening and closing their options must be divisible by 10 minutes. Each Participant is allowed to buy or sell call or put options only once on each instrument.
Philosophy
The forex demo trading contest is an opportunity to earn money in the forex market without the risk of investing any of your own money. There are numerous advantages to this type of trading, which include: you’re in charge of the results, you’re in control of your trading, and you’re your own boss. However, trading is not an easy task, and you must train yourself to become a skilled trader. As a beginner, you’re likely to lose money until you develop the skills to become a profitable trader. Therefore, you need to follow a strategy, control your emotions, and only invest money you can afford to lose. Never invest money you need to live on.
The first step in participating in a Forex demo trading contest is to register for a brokerage account. Once registered, follow the instructions of the broker. You’ll receive a prize fund based on your profit. The prize money is divided among the top 10 traders, so it’s vital to improve your skills and knowledge and never give up!
Prizes
Prizes for the forex demo trading contest are awarded to participants based on their performance in the trading simulation. Prizes may be in the form of cash or bonuses. The cash prizes are withdrawable, whereas the bonuses may only be used for trading. Winners are required to register for the contest, provide personal information, and submit a social media link. The prize money is usually transferred to the participants’ accounts within 20 days.
To participate in the contest, participants must have an InstaForex account. After creating an account, they should register for the next weekly contest. Registration for the contest is open until one hour before the start time. Each contestant starts with a virtual balance of $10 000.
Registration period
To join a Forex demo trading contest, you must register on the Website. During the registration period, you must agree to the T&Cs of the competition. You will be provided with a Demo Account, which has USD 100,000 virtual money. Once you have finished the registration process, you can withdraw the virtual money into your live trading account.
The first round is free of charge, and you can register anytime between 13 February and 11:59pm GMT+2. You can also register on the Competition day. You must be at least 18 years old to enter. When you register for a forex demo trading contest, you can compete against other traders in the forex market. These contests are often risk-free, and you’ll be able to test your skills before you spend any real money. You’ll also be required to give real data about yourself to be eligible for the contest.
To participate in these contests, you’ll need an InstaForex account. If you don’t have one, you can sign up for a demo account with InstaForex and register for the next weekly contest. Remember to register for the contest before the deadline to avoid losing your place in the competition. There are several restrictions on how much you can trade and how many trades you can open at one time.
What’s Next?
If you’re able to make more than the minimum amount of virtual money, you’ll be able to withdraw your prize. One example of a demo contest is the FBS League. This contest rewards the top 5 teams and solo traders each month. You can register to compete as a solo player or as a team of three to five traders. You’ll get cash if you win at least two matches.
