Forex trading competitions for Cash

Trading competitions have grown in popularity among brokers in recent years. They provide traders with the opportunity to compete against other traders and potentially win cash prizes. These competitions can provide traders with valuable experience and exposure to a variety of trading styles and strategies.

Trading competitions are also a great way for forex brokers to market themselves. Let’s look at some brokers with trading competitions for cash and the trading conditions they have to offer. Notably, most competitions are not available in the EEA region or they are available only under an entity that is not regulated in the EU.

IQ Option

IQ Option is a popular online trading platform that offers various financial instruments, including CFDs on Forex, Stocks, ETFs, Commodities, Indices, and Cryptocurrencies. Notably, IQ Option does not offer MT4 or MT5 platforms. It provides its own in-house built IQ Option Trading platform that competes well enough in functionality and versatility. It offers competitive spreads for example major currencies such as EURUSD start as low as 0.9 pips. IQ Option offers trading tournaments where the monthly competition prizes range from $1000 to $100,000. On the IQ Option platform, free weekly tournaments for all traders have been implemented. The main prize is free entry into one of the larger paid tournaments. Users can experience the thrill of the tournament and potentially win a significant prize from IQ Option.

After opening an account, each trader receives a special $10,000 tournament account. In descending order, the leaderboard displays how much money each participant has in their tournament account. The tournament prize is credited to your real account as real money. The prize pool receives 80% of your entry fee. Throughout the tournament, the client can replenish their tournament account. The total prize fund has exceeded $100,000 in some of their previous tournaments, with the winner receiving around $10,000. Interestingly, the buy-in for some trading tournaments can be as low as $4.

When trading with real money, your capital is at risk.

RoboForex

RoboForex is a forex and CFD broker that offers a wide range of trading instruments for its clients. The various trading instruments include Forex, EFTs, and CFDs on stocks, indices, ETFs, commodities, metals, energies, and cryptocurrencies. RoboForex is a popular ECN broker in the world today. As such, its spread charges are very low, floating from as low as 0.0 pips. You can execute your trades in the popular trading platforms MT4, MT5 and cTrader. RoboForex is a broker that hosts trading tournaments with cash prizes. Their trading competitions usually last a month. Traders can enter these competitions by registering for the contest and opening a demo account with RoboForex. There are contests for both forex and metals trading.

RoboForex's trading contests offer cash prizes ranging from a few hundred dollars to several thousand dollars. The cash prizes are usually given to the top-performing traders. The monthly prize money is $3,900. Winners are free to use the money as they please, they can even withdraw it. RoboForex contests provide an excellent opportunity for new traders to practice trading on demo accounts without risking their own money. Professional traders can put their trading strategies to the test and improve their skills, while Partners can earn extra money from clients they bring in.

HotForex

HotForex is a forex and CFD broker that operates in various countries and regions around the world. It offers MT4 and MT5 as the main trading platforms. You can access global markets including Forex, Metals, Energies, Commodities, Indices, Bonds and Shares on this broker site. HotForex offers trading tournaments with cash prizes. Their trading competitions usually last a month. Traders can enter these competitions by registering for the contest and opening a demo account with HotForex. Trading contests offer cash prizes usually given to the top-performing traders.

The HFM Virtual to Real Demo Contest is only open to demo accounts. As a result, there is no monetary risk for the participants, but the cash prizes are real. Furthermore, offering this demo contest will allow the clients to master their trading skills while also winning real money. HFM Demo Awards are as follows the first prize is $2,000, the second-place trader receives $1,000 USD and the third prize is $500 USD.

The Traders awards prize just keeps changing. Every month, the trader who has made the most profit will receive a $1,000 cash prize, a stunning obelisk award, and induction into the HFM Hall of Fame. The top ten traders will also be recognized on the HFM Traders Awards page for their hard work and exceptional trading abilities.

OctaFX

OctaFX is a forex broker that provides trading services to clients from nearly all over the world. On this broker site, clients can use a variety of trading platforms including OctaTrader, MetaTrader 4, and MetaTrader 5. Trading instruments include live quotes, stocks, indices, currency pairs, commodities and derivatives of stocks and indices. OctaFX is a broker that hosts trading tournaments with cash prizes. Their trading competitions usually last a month. Traders can enter these competitions by registering for the contest and opening a demo account with OctaFX. The trading contests offer ranging cash prizes, usually given to the top-performing traders.

A $1,000 prize is up for grabs in OctaFX's demo Forex trading contest. It has been one of the longest-running OctaFX trading contests for over 150 weeks. Every week, participants sign up for the next round by creating cTrader demo accounts. Each round has five winners, with the participant with the highest balance at the end of the round receiving a $150 prize. The winner could either withdraw it or trade it. This can be an excellent opportunity to show one's trading skills without risking one's money. The prizes are as follows, the first prize is $500, the second prize is $300, the third prize is $100, the fourth prize is $60, and the fifth prize is $40.

InstaForex

InstaForex is a forex and CFD broker that offers various trading competitions and contests for its clients. Trading instruments available on this broker site include CFDs on forex, shares, indices, metals, oil and gas, commodity futures, cryptocurrencies, and instafutures. MetaTrader 4 and MetaTrader 5 trading platforms are available where you can execute your trades with easy. it has competitive spreads starting from as low as 1.0 pips for major currency pairs.

InstaForex hosts exciting Forex contests on a regular basis, allowing participants to put their trading skills to the test. The contest winners receive genuine prizes. The annual prize pool exceeds $500,000. You could also win a luxury car, a brand-new device, or an unforgettable trip.

FXTM

FXTM is another broker that offers trading competitions with cash prizes. Their trading competitions usually last two weeks to a month. Traders can enter these competitions by registering for the contest and opening a demo account with FXTM. There are contests for both forex and commodities trading. FXTM's trading contests offer cash prizes in ranges where the cash prizes are usually given to the top-performing traders. Clients can compete with traders from all over the world for incredible prizes, prestigious titles, and the opportunity to discover new market opportunities while trading.

With this broker, clients can trade Forex, metals, and stocks alongside CFDs on commodities, indices, and stocks. It offers some of the lowest spreads in the market, starting from as low as 0.2 pips.

Final thoughts

Trading competitions can provide traders with valuable experience and exposure to various trading styles and strategies. Traders can enter these competitions by registering for the contest and opening a demo account with the broker of their choice, provided they offer trading competitions. These contests have cash prizes ranging from a few hundred dollars to several thousand dollars. Additionally, some of these brokers provide loyalty programs that reward traders.

In this review, we looked at some of the best brokers with trading competitions for cash. These brokers have some of the best trading conditions in the market.

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