XM Trading Competitions - How to Win $40,000 in cash prizes
This material is not intended for viewers from EEA countries as trading competitions are not available in EEA countries.
XM, a globally recognised online broker, understands the enthusiasm of traders to showcase their skills and compete for attractive prizes. That's why XM offers a series of trading competitions to its traders. These competitions provide traders with a platform to demonstrate their expertise, compete against others, and win lucrative prizes. A trader can win withdrawable cash, trading bonuses, or physical prices. Further, when a trader wins the competition they can also acquire a pre-funded account and a chance to become a strategy manager. Although it's not a rule for all competitions, some competitions have multiple tires that require different equity entries.
Let's look at XM trading competitions, exploring the various contests, how to join them, what traders can win, and the terms and conditions that apply.
Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone.
An Overview of XM Trading Competitions
XM hosts a variety of trading competitions to engage its clients and provide them with opportunities to enhance their trading skills. These competitions cater to traders of all levels, whether you're a beginner looking to test your skills or an experienced trader aiming to showcase your expertise. Each of the competitions has its own unique rules and requirements. These competitions typically revolve around different financial instruments, such as forex, commodities, and stocks. Participants are required to trade these assets while adhering to specific rules and objectives.
Over the years, XM has hosted a variety of trading competitions. Some common types of XM trading competitions over the years have included forex world championships, demo trading contests, monthly championships, and trading marathons, among others. At the moment, XM runs a funded account manager competition, top performer competitions, daily challenges, five-day showdowns, seven-day showdowns, and monthly marathon competitions. Keep in mind that the specific competitions and their details may evolve over time. Nonetheless, let’s look at how traders can enter the various competitions hosted by XM.
How To Enter A Competition
For a trader to enter a competition, first they have to select the account they will use to participate with. After selecting the account it will automatically show them if they meet the requirements of the competition. A point to note is that competitions offered by XM are available to all new and existing traders. The other condition for a trader to be eligible to enter a competition is to have a minimum equity entry. The minimum entry varies from competition to competition. Depositing a larger minimum entry allows a trader to be in contention to win better prices. Now let’s see the specific terms that apply to the various competitions that are currently available.
Funded Account Manager Competition
The funded account manager competition is available to all new and existing clients. The requirements that traders must meet for the competition are:
- A trader must have at least one verified XM standard or ultra-low standard trading account with any base currency.
- Have a minimum base equity of the amount specified in the relevant section on the company’s copy trading platform.
Note that traders cannot register the funded account manager competition with multiple accounts. Three winners will be chosen based on their trading performance on the trading account that was used to enter the competition. The prices the traders get on the competition will not be available for withdrawal. The amount the winners receive will only be available for trading purposes. What's more, the trading activity of each trader will be displayed on the company’s copy trading platform. The trading activities will include, among other things, the rankings of each trader, the country and nickname of eligible clients, and the trading performance which will be expressed as a percentage.
Top Performer & Daily Challenges & Five-day Showdown & Seven-day Showdown & Monthly Marathon Competition
These competitions are available to all existing clients. The requirements to enter the programs include:
- A trader should have at least one verified XM standard or Ultra-low standard account with any base currency.
- Have a minimum equity of the amount specified in the relevant section of the company’s copy trading platform.
Eligible clients will only participate in the competitions with one trading account. XM picks the 10 winners of the competitions based on their trading performance on the trading account they used to enter the competition. The prices of the 10 will amount to cash prizes which will be added as balance in the winner's trading account that was used to enter the competitions. The winners of the competition will be contacted via the official means of communication which are telephone and email.
What Can You Win On XM Competitions?
On XM competitions, over $40,000 in cash prizes is up for grabs. However, the prizes may vary from one competition to another. Here are some of the common rewards you can win in XM Trading Competitions:
- Cash Prizes- Many competitions offer cash prizes to the winners. These prizes can range from a few hundred dollars to several thousand, depending on the competition's size and significance.
- Trading Bonuses - Traders can also win trading bonuses useful in enhancing their trading activities. These bonuses may come with specific terms and conditions, so it's crucial to read and understand the rules regarding their usage.
- Gift Prizes - Some competitions feature gift prizes, such as high-end electronics, travel vouchers, or luxury items, as additional incentives for participants.
- Pre-funded accounts - Winners of some competitions receive access to a pre-funded account that they can use in trading.
- Becoming a Strategy Manager - Winning an XM Trading Competition can give a trader the chance to become a strategy manager. The recognition that comes with winning can be invaluable for traders looking to establish themselves as experts in their field.
- Educational Material - In addition to material rewards, XM often offers educational resources, including trading courses and webinars, to competition winners. These resources can help traders further improve their skills and knowledge.
Notably, the company uses a ranking system to determine the winners of a competition. Rankings help determine who will win the competition. They are calculated based on the performance of all competitors. At every calculator interval (every 10 minutes), the company calculates the performance of all competitors and sorts them in descending order. The higher the performance, the higher the ranking. In case two competitors share the same ranking, both will win the same prize. Lastly, traders can view the results on the dashboard together with the statistics of the competition. Only the trading activity performed by the trading account used to enter the competition will be taken into account when ranking a trader.
Reservation and Rights and Disqualification
XM reserves the right to reject the participation of any eligible client. If a client engages in any prohibited trading activities, XM has the right to disqualify the participant. XM can decline any registration of a participant who tapers or attempts to tamper with the operation of the program or breaches the terms and conditions. The terms and conditions are displayed on XM websites. A client can be disqualified when:
- They provide incorrect or fraudulent details during registration.
- They use more than one trading account to participate in a competition. All eligible clients can have only one registration per unique IP address. XM does not permit multiple registrations from the same IP address or multiple registrations with the same details. In such a case, XM has the right to exclude such a person from participating in the program.
XM Trading Competitions offer traders a thrilling opportunity to showcase their skills, compete against peers, and win attractive prizes. Traders can take part in these contests and potentially boost their trading success. They can do this by following the straightforward registration process and adhering to the competition's terms and conditions. Remember, trading competitions are not just about the prizes, they are also valuable opportunities to hone your trading skills, gain recognition in the industry, and enjoy engaging with fellow traders.
To get the most up-to-date information about the specific XM Trading Competitions available, we recommend visiting XM's official website or contacting their customer support. Keep in mind that the rules, eligibility criteria, and prizes for these competitions may change over time. So it's essential to check the latest details before participating. Additionally, be sure to carefully read the terms and conditions for each competition to ensure a smooth and fair experience.
Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone.