Do you want to participate in a Forex Live Contest but don’t have enough info? It is NOT for EVERYONE as it includes real money.
Do you agree? So, we're going to give you a detailed concept of the Forex live competitions 2022 here.
Well! Let’s start with its scheme.
We advise before you are going to JOIN a Forex live trading contest in 2022, you should FIRST join the Forex Demo Contest to know about how the contest works. When you get enough KNOWLEDGE about demo contests, then you can go to the live competition. It is a GREAT way to win fabulous and cool prizes.
The contests take place on a daily, weekly, or monthly basis. ALWAYS keep in mind that you risk your investment as you trade with REAL MONEY in the contest. We will recommend knowing about the Forex No Deposit Bonus if you are a beginner to REAL trading.
Before moving towards Forex real trading competition, first, we will talk about the Forex contest nature.
Some people consider the Forex contest to be a kind of a BONUS, and they are not totally WRONG. On the other hand, multiple brokers held the competitions they arrange in the section of promotion, next to rewards like rebate pips, and no deposits. It does not matter what is present on the page; all that matters is how it works.
Do you know how it is the difference between a standard bonus? The primary thing is that s bonus is presented to a trader, as if it is a type of a return gift for you being a customer of a broker, either a new or a regular one.
But live Forex contest is not considered a gift – it is an event where new and regular customers are preferred to take part in. The competition occurs on the website, and it is the comparison of multiple skills and abilities, the win and the trades, of every individual.
In the end, the one having the best results takes everything – the prizes mentioned as a reward for the contest. You may know that there are two types of Forex contests: Live Forex Contest, which we are talking over at the moment, and Demo Forex Contest.
Forex live trading contest is a contest held by Forex brokers where the real traders can take part. On this stage, think of it as a Game. But the real one! It's not for newbie, it's only for the regular traders.
To grasp the concept, we require comparing it to the other kind of Forex contest: the demo contest. The demo Forex contest involves the traders who are yet in the safe stage - beta stage of trading. It means they can use a DEMO account, where only virtual money is included – no REAL MONEY.
The demo account allows the trader to practice the skills, as they are not so assertive about themselves, and they do not need to risk investments. It means that their taking part in a contest is less risky and simple.
On the contrary, if you participate in a live competition, it means you take more risk as you risk your REAL money.
Here at the live trading competition, you are trading with REAL money, and you need to be a bit more focused and concentrated because, in spite of executing regular financial trading activities, you are also involved in a competitive event, there you need to show your best hand.
If you do, then you can easily WIN the live contest, and in addition to your trading winnings, you can get the reward declared for the event by the broker.
We hope you have learned something about the live Forex contest. Now, we are moving towards how it works.
Multiple brokers offer Forex live trading contest in 2021; every person is providing different criteria. Each broker set their own prizes and rules for trading.
Now, you will check in almost all the contests that you need to earn a lot of profit and points to become a winner of the competition. You need to read the terms of the contest carefully before taking part in the live trading competition.
And of course, don't hurry to grab a random broker instead use Authorized Foreign Exchange Brokers for participating in a real competition where your effort won't vain.
Here are all the advantages of participating in a live Forex contest that many motivate you to look for such with the current broker: