Forextime contest of champions
HotForex trading contests — HotForex is another Forex broker that has decided to offer a great range of contests to keep their customers entertained. There is a demo contest, the HotForex currency wars contest, a free-for-all holiday tournament, a Rolex trader contest, a race to rewards contest, and the HotForex VIP contest.
RoboForex trading contests — RoboForex offers a good selection of demo contests on a regular basis. The 10 best participants get a share of the prize money, which is transferred to a real trading account as a bonus. Another option is the Kingsize MT5 contest which is held every Thursday and runs for 24 hours.
Again the 10 best competitors get a share of the prize. There is also a demo Forex contest held on a monthly basis. This is just a very small selection of the contests currently available. We will aim to mention their availability when writing our reviews. Is there a strategy for winning Forex contests? Some of you reading this are going to be wondering whether there is anything you can do to increase your chances of becoming a winner.
The trading strategy you normally use for your everyday trading is not necessarily going to work in the same way, as when you take part in a Forex contest the aim is not to just make a profit. This is part of your goal, but it also involves making as much profit as possible in the shortest possible time. Anyway, going back to the original question; yes, there are actually a couple of strategies you can employ in order to increase your chances of winning Forex contests.
One of the ways is to go all-in. Look for the most volatile pair at the beginning of the contest, and then open a trade for as large a volume as is possible. Every night the account balance is computed at the time of rollover. The prize winners are picked based on the percentage of profit, percentage of drawdown, and profit factor. The 1st to 50th traders in the final rating of profit index are rewarded 50, 49…, 1 points respectively. The same goes for the other two determining indexes.
The prizes are transferred within 60 days after the contest and are withdrawable as soon as they are granted. The participants are required to do the verification process in the Members Area, pick a nickname, and open a contest account. The maximum number of orders and transaction volumes are 10 and 0.
The traders can use all the available trading instruments; however, the use of EAs is not allowed. In the event of having several traders with the same results, the prize will be shared between them based on the final ranks. In order to receive your prize, send a private message including your account number to ContestFX at the RoboForex message board.
In the event of Stop Out occurrence, the prize money will be written off. The prize fund will be distributed among the 20 top traders with the largest deposit in descending order. The traders are required to verify their Members Area and pick a nickname, open a contest account MT4 Demo , and trade with virtual money to win real cash. The traders can use all trading instruments except for EAs, scripts. The winners are to send ContestFX at the RoboForex message board a private message specifying their account number in order to receive their prizes.
The new traders are to register for the contest on the relevant page, use their accurate and verifiable personal info for the registration, receive the ID and password via email, and download the MultiBank Pro MT4 platform to qualify for the competition. Moreover, the minimum trading volume is lots round trade and hedging is strictly prohibited. The winners will be announced in the first week of the following month, February Among the skilled traders, 5 competitors with the highest profit percentage will receive the prizes in descending order.
The clients are required to register for MyFXTM before or during the contest, agree to the terms and conditions of the contest, open a demo trading account and start trading to achieve one of the top positions. In the final calculation, only the positions whose duration is more than 5 minutes will be included.
Every contender can participate only once.
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