I've always approved of competitions. Testing yourself against others, checking your strengths and weaknesses... winning prizes – it's all very appealing. Especially when it comes to Forex, where the prizes are usually a healthy dose of hard, cold cash. There have been a number of very attractive contests to talk about lately, like FxPro's Myfxbook contest
, ICM Capital
's demo trading competition, even FBS'
s contest for the modest sum of $450. All very fun and educational.
, however, has decided to knock out the competition with its latest demo contest – the “Knock Out Competition” with a prize pool of $10,000. This hefty sum will be distributed among the 20 traders with the greatest balance in their accounts at the end of the contest period. The prize amounts will be as follows:
- $3,000 for first place
- $1,500 for second place
- $800 for third place
- $500 for fourth to eighth place
- $250 for ninth to 12th place
- $200 for 13th to 16th place
- $100 for 17th to 20th place
Registration for the event will begin on May 11, 2013, and the contest period will last from June 3 until June 28. In the meantime, all contest accounts will remain “read-only”. Registration is open for all new and existing XEMarkets customers and is completely free of charge. Of course, each customer can only register once and will probably need a Real XEMarkets Trading Account, since that's where all prizes will be placed once the competition is over. Award money will be 100% withdrawable as soon as it is placed in the winner's account.
As for the way to win, that hardly needs explaining – open a demo account with USD as account base currency, leverage of 1:200 and an investment amount of 100,000. Then, trade as hard as you can until June 28. Hopefully, at the end of the trading day you will be among the 20 traders with the highest balance, making you one of the lucky winners. It's as simple as that!
As you can see, it's not rocket science or anything. This is merely a continuation of XEMarkets' long-standing practice of generous contest. The broker organized a £8,500 contest
for the students of the London School of Economics earlier this year, then sent a winner (and one of his friends) to watch F1
in Malaysia. Basically, this is just one more way to put your skills to good use without threatening your personal funds – it's a win-win in any case.
XEMarkets is a trading name and a registered trademark of Trading Point of Financial Instruments Ltd, regulated by the Cyprus Securities and Exchange Commission (CySEC) and registered as a Cypriot Investment Firm (CIF). Trading Point of Financial Instruments Ltd operates its XEMarkets.com services for Forex, precious metals, equity indices, and energies trading in compliance with the Markets of Financial Instruments Directive (MiFID) and with full European Union authorization, including FCA (UK), BaFin (Germany), AFM (Netherlands), CNMV (Spain), FI (Sweden), and FIN (Finland).