Brokers can take different kinds of measures to attract clients, one of which is hosting weekly trading contests with attractive prizes.
From the trader's side, taking part in forex trading contests provides various benefits. The main thing is surely the prize when they win the competition. Apart from that, traders can simulate trading conditions at various different brokers without having to spend any money if they take part in demo contests. For weekly forex trading contests on real accounts, traders can compete for bigger prizes in a relatively short time.
A weekly period (5 working days) seems like an ideal duration for competing, especially when compared to daily trading contests which are too short, or monthly contests which can be too long. If you are looking for an interesting weekly forex trading contest to participate in, note down the name of the broker and the contests below.
XM Demo Competition
With a total prize worth $120,000, the weekly contest from XM broker is certainly a tournament to consider. Aside from the obvious huge prize, the competition takes place on a demo account and there is no entry fee. Thus, participants can join this contest for free.
To join the XM demo contest, participants need to register an account and complete the verification process. After that, an MT5 demo account would be automatically created with an additional balance of $1000. In competing, participants are free to use any strategy, even using Expert Advisors. However, they are not allowed to add or reset the demo account balance.
If there are two competitors ending up with the same best achievement at the end of a competition period, XM will give the prize to the two winners.
InstaForex Sniper
You can start your trading journey through the Sniper contest on InstaForex, where every week there is a chance to win a total prize of $1500. Participants can jump into this demo competition with $10,000 in virtual cash. This contest lasts for one week, allows the use of leverage up to 1:500, and participants are allowed to trade from 0.01 to 1 lot.
CapproFX 'Virtual to Real' Demo Contest
CapproFX presents the 'Virtual to Real' Demo Contest, an opportunity for clients to hone their trading skills without risk on a demo account. This contest offers cash prizes to winners on a weekly basis. The three grand winners receive cash prizes of $1000, $500, and $250 respectively. Winners are required to provide feedback about their experience with CapproFX on social media or forums to receive their prize.
Titan FX Tournaments
The Titan FX Tournaments gives you the opportunity to win a total prize of $3500, where the first winner receives $2000, the second winner $1000, and the third winner $500.
To qualify for this competition, you are required to achieve a minimum trading volume of 50 lots within the specified period. If you want to join, you only need to register for the competition, log in to the Member Area, and start trading. As a participant, you will be awarded a virtual fund of $100,000.
Apart from trading contests, a way to get additional profits from forex brokers is by participating in bonus programs. Which promotions can you take part in? Find at Latest Broker Bonus News.