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Forex Contest (Demo)

Enjoy NordFX Super Lottery 200 prizes

On March 1st, NordFX launched a new Super Lucky Draw event. There will be 200 cash prizes ($250, $500, and $1,250) and two super...

AMarkets Contest Trading Rally Indonesia 2022

AMarkets has given away a reward to its Indonesian customers. This contest features a Honda New PCX 160 CBS motorcycle, an iPhone 13 Pro...

OctaFX Fantastic Cricket Giveaway 2022

OctaFX has created a unique and intriguing promotion to commemorate the start of the new cricket season. If you enter the giveaway, you could...

Lirunex Fiesta Raya Ramadan Celebration Contest

Pay tribute to the month of celebrations. By making a cash deposit, you can earn up to an iPhone 13 Pro, according to Lirunex....

NordFX 100000 USD Trading Contest 2022

Nord FX has announced the start of a Super Lottery. A total of $100,000 has been set aside for the promotion. 200 prizes are...

HotForex Ramadan Kareem Trading Reward 2022

HotForex has introduced a new Ramadan promotion in which you can compete for a variety of prizes. Prizes include a DIJ Drone, a PS5,...

Hotforex Holy Ramadan Trading Contest 2022

For the month of Ramadan, Hotforex has organized a Forex trading competition. For each lot of gold and silver sold, Hotforex will pay $1....

OctaFX Ramadan Charity Event Promotion 2022

OctaFX has organized a charity event to commemorate Ramadan. For every lot you trade on favorable terms, they will give one dollar to the...

MFM Securities Do It Ramadhan Contest 2022

From March 28th to April 4th, 2022, the MFM Securities Do-It-Yourself Ramadan Contest will be held. Ramadhan has begun, and the time has come...

Lirunex Forex Trading Contest 2022

Lirunex has launched a business competition for the year 2022. The entire prize pool for this contest is $3000 USD. The first-place winner will...

Earn up to 1000 USD in the Lirunex Trading Contest 2022

Lirunex strives to provide the best service possible to its customers. Trading Contest 2022 is a brand new campaign that they have only recently...

2022 FBS Birthday Party Raffle Draw Contest

FBS (Forex Broker Organisation) is a well-known provider of foreign exchange brokerage services. They are currently planning a large celebration to mark their anniversary....

Know the advantages of demo forex contests and the things you should know before registering to enter

Demo forex contests are competitions that usually never charge you anything to enter, and they offer prizes as incentives for the winners. If you want to take part, you have to register for a demo account with a forex broker, since, as the name suggests, demo forex contests are run through forex demo accounts, and hence no real money is involved in the process.

Things you should know before entering the demo contest

Before entering into a forex demo contest, you must understand that each broker sets its own particular rules and regulations that govern every demo contest. Accordingly, they decide certain things like the eligibility to participate, how the contest moves farther, and how can prized be won, claimed, and redeemed. You should ensure that you understand all the rules and comply with their specifications. In absence of which, participating would be only a waste of your time and effort, as non-compliance means elimination.

Advantages of demo forex contests for newbies

Even though demo forex contests are mainly targeted towards beginner traders to get a feel of how real forex trading works, it is common for experienced traders to enter such competitions as they see a chance to earn a prize, without risking any real money. Apart from all this, the ones who gain the major benefits from taking part in a demo forex contest are surely newbies, inexperienced traders. There are some significant reasons behind this as by entering such contests:

  • Newbies are supported to come to learn the tips and tricks of how trading is done. This not only offers them considerable forex knowledge but also endow them with tools, both physical and mental, they usually need if they tend to take up trading seriously in the future.
  • Novice traders can gain an understanding of the psychology of real trading, as competing in a demo contest varies from the virtual trading they engage in by demo account. Even though there is no risk of losing any real money, the competitive environment can give you the adrenaline rush, while the probability of winning or losing prizes, increases the stake and creates conditions depicting those of real, live trading.
  • Traders who are in the initial stage can test, and rectify or improve their strategies prior to applying and manifesting them in the real forex market when they need to do the real trade where real money would be a bet.

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