Flexible Forex Demo Contests for Newbie Traders in 2021, free forex demo contest.
Free forex demo contest
The forex demo contest is a great opportunity for a newbie trader to test his/her trading capability.
No deposit forex bonuses
Flexible forex demo contests for newbie traders in 2021
What is forex demo contest?
We know that the forex contest is a challenge like a tournament. But there are two types of contests available in the forex. These are 1.Forex live contest and 2. Forex demo contest. In a live forex contest clients has to invest real money. But in a demo contest, traders don’t need to invest from their own pockets. Brokers will provide a fixed amount of money to every participant for participating in the contest.
The forex demo contest is a great opportunity for a newbie trader to test his/her trading capability. This type of contest is the opposite type of live forex contest. And also there is a very good chance to win a real trading prize money or cash. The most important thing is, you can win a prize without having risk. Sometimes pro traders also taking apart into these contests while there will be big prize money. Some of the experienced traders are telling that, if a newbie trader can win a demo contest than, he/she can be a good forex trader in real trading.
Some basic rules of forex demo contest: each demo contest has different rules, but few rules are common in each contest. There are some basic rules for the forex demo contest. You may check here below.
- The broker will specify the competition rules.
- Participants start the competition with the same balance.
- Most of the broker doesn’t allow multiple accounts from a single IP.
- Multiple accounts are not allowed by the brokers in demo competitions.
- Most of the broker make rules that, after joining the contest clients can’t withdraw themselves from the competition.
- Most of the brokers are providing winning prize money as real trading money. Which is able to trade in real forex trading. But some brokers are providing prize money for withdrawing.
Forex demo contest: BEST OF THE BEST
BEST OF THE BEST forex demo contest
Trade profitably on a contest forex account by use of currency pairs and any other available trading tools at liteforex. Trade actively and show the best profitability result among all forex demo contest participants.
Five participants whose trading will be the most profitable and risk factor - the least, with money management observed, will be announced as winners of the forex demo contest.
Current contest | 0:00, 1 january 2021
Terms and conditions
1. Registration, participation terms, contest period of the forex demo contest
1.1 the «BEST OF THE BEST» forex demo contest takes place every month, from the first of each month at 00:00:01 till the last of the month at 23:59:59, according to the server time GMT +2 (as indicated on the trading platform).
1.2 all participants commit themselves to provide true information when registering for the contest.
1.3 the clients from the USA, japan, israel, and EU countries may not participate in this demo contest.
1.4 when registering for the contest, a participant accepts all limitations and rules related to the contest. In the event of non-compliance with the contest rules, the organizer, acting through the liteforex company, may disqualify a participant in the course of the contest.
1.5 in case either attempts of entering the forex demo contest from several trading accounts/profiles or the fact of using anonymizers are found out, a participant will be disqualified.
1.6 in order to participate in the «BEST OF THE BEST» forex demo contest, a client needs to fully verify his/her personal profile and register for the contest on this page.
1.7 when registering on the site, a participant needs to fill in the fields of the registration form above and specify his/her email (login from the client profile) and a nickname to be displayed in the ranking of the demo contest «BEST OF THE BEST».
1.8 any liteforex’s profile holder may participate in the «BEST OF THE BEST» forex demo contest once a month. One individual may register for each current contest only once.
1.9 after the registration form is filled in, a contest demo-account with a unique login number and password will be opened for a participant. These details will be sent to the email-address indicated when registering for the contest.
1.10 the registration for a new contest stage is open as soon as the previous contest stage starts.
2. Terms of trading of the forex demo contest
2.1 type of account: DEMO ECN.
2.2 initial balance: 5000 (the same for all participants).
2.4 risk stop out: the maximum drawdown acceptable in a contest account equals 25% of a current balance. As soon as floating loss exceeds this value, risk stop out will occur and all open positions will be closed. A participant who has allowed risk stop out to happen in his/her account will be disqualified.
2.5 trading tools: any tool provided by liteforex
2.6 A participant may use trading experts and trading strategies without any restrictions provided that the terms of liteforex’s effective liteforex’s "client agreement" are respected.
2.7 all transactions must be closed before the contest finishes. Should there be any open transactions at the moment when the context finishes, they will be automatically closed at a current market price. The presence of open transactions at the moment when the contest ends does not entail disqualification.
2.8 other terms of trading on contest demo accounts correspond to the terms of trading on live ECN trading accounts in accordance with liteforex’s "client agreement".
2.9 liteforex reserves the right to refuse registration or/and disqualify a participant without providing a reason thereof. The reasons for disqualification can be the following
- - violation or non-observance of the "client agreement";
- - registration of several contest accounts by the same physical person or the presence of several client profiles belonging to the same physical person;
- - opening of opposite trades of big volume at almost the same time and using the same pairs;
- - use of quotes flow failures to make guaranteed profits;
- - presence of contest transactions, including lock trades, whose duration is less than 2 minutes;
- - ascertainment or suspicion that a participant has committed any kind of fraudulent action for being listed among the winners.
2.10 the participants that have not shown any trading activity for 10 days in a row during the contest period are excluded automatically.
3. Winners determination and prizes getting
3.1 the first 5 participants with the best profitability/risk ratio by the end of the contest will be considered as winners of the liteforex «BEST OF THE BEST» demo-contest. The final results will be formed within 3 working days after the end of the contest, as soon as they are checked by the security and risk-management departments.
3.1.1 the participants whose risk factor has exceeded 5 during the contest period shall be excluded from the contest, and their contest accounts shall no longer be displayed in the ranking.
3.2 only those participants who have been actively trading during the contest period and have increased their initial deposits without breaking the contest rules can be regarded as winners.
3.3 the participants who have gained prize-winning places from the first to the fifth according to the paragraph 3.1 receive money on their liteforex live ECN trading account; depending on the place, sums vary as follows:
| Rank | prize sum, $ |
|---|---|
| 1 | $4000 |
| 2 | $2500 |
| 3 | $1500 |
| 4 | $1000 |
| 5 | $1000 |
3.4 in case two contest participants have the same balance value following the results of the demo contest BEST OF THE BEST, the liteforex company, as the contest organizer, shall decide between them, giving preference to the participant with the least maximum drawdown shown over the contest period.
3.5 the winners on the TOP 5 final list shall:
- make sure that their client profiles are fully confirmed according to liteforex’s requirements;
- open an ECN trading account in the social trading system;
- send an email from the address specified when registering for the contest to contest-demo@liteforex.Com, indicating: the contest name - «BEST OF THE BEST» (demo); contest demo account number and trader’s password; trader’s ECN account number; email address specified when registering a profile.
3.6. The winner shall be aware that prize payment requests are accepted only within the first 2 weeks following the end of the contest the account has been participating in.
3.7 liteforex reserves the right to request any additional information regarding the participant’s identity when crediting a prize.
3.8 A participant awarded a prize may not demand that the prize amount be credited to third parties’ accounts.
3.9 prize funds are credited to a client’s real account, opened right after participation in the contest, within three working days after the request has been sent. (p. 3.5)
3.10 prize funds are credited to the credit column, belong to the company and are provided to a winner as an initial investment for participating in the social trading service as a trader. Profits made by a winner in his/her trading account by use of prize funds may be withdrawn without any restrictions. Also, percentages of his/her investors’ profits made from social trading may be withdrawn at any moment and without any restrictions too.
3.11 as organizer of the contest, liteforex has the right to refuse a prize without giving explanations if there is a suspicion of rules violation or if a winner has refused to verify his/her profile and provide additional information regarding his identity as per p. 3.7.
3.12 under the program for protection of investors’ interests, the company reserves the right to hide a winner’s real ECN account from the monitoring of the social trading platform and deduct prize funds if the winner’s trading by use of prize funds becomes high-risk. If a drawdown has exceeded 25% of a current value «balance+credit» when trading by use of prize credit funds, they will be withdrawn by the contest organizer.
3.13 trading by use of prize funds on his/her trader’s account on the social trading platform, a winner undertakes to follow a low-risk trading strategy and not to exceed a risk level of 5.
3.14 as organizer of the contest, liteforex has the right to amend the contest terms at any time without special notification.
3.15 liteforex reserves the right to use the information related to the winning accounts for advertising purposes and publish it in any sources of information. The winners are invited to participate in liteforex’s advertising and marketing actions such as interviews, photo- and video-reports, and press releases concerning the contest. At the same time liteforex commits itself not to divulge the winner’s private information (including name and surname) without the winner’s consent. Should a winner refuse to participate in these actions, liteforex reserves the right to disqualify the winner and award the prize to the participant occupying the next place in the final ranking.
Parameters of accounts taking part in BEST OF THE BEST contest
Profitability
Profitability is computed using the following formula:
P = (equity - balance_start) / balance_start * 100 (%), where:
Equity – current account’s equity;
Balance_start – initial account’s balance ($5000).
Maximal deposit utilization rate
Maximal deposit utilization rate is a maximal value of an account’s deposit utilization rate during the contest.
Deposit utilization rate is a percentage of an account’s equity used as a margin for opened orders.
It’s calculated using the formula :
Margin / equity * 100(%), where:
Margin – a deposit amount required to open a position;
Equity – a current account’s equity.
Maximal relative drawdown
Maximal relative drawdown shows a percentage of losses in an account.
It’s calculated using the formula :
Max ((maximalpeak - nextminimalpeak) / (maximalpeak + 100) * 100) (%), where:
Max — the highest relative drawdown value;
Maximalpeak — the upper extremum value corresponding to max in the profitability chart;
Nextminimalpeak — the lower extremum value following maximalpeak in the profitability chart.
Example of relative drawdown calculation for the chart above:
Let’s estimate the extremums of the profitability chart ("H" for the highest and “L" for the lowest)
Relative drawdown values are calculated as follows:
Percentdrawdown1 = (H1 - L1) / (H1 + 100) * 100 = (80 - 50) / (80 + 100) х 100 = 16,67%
Percentdrawdown2 = (H2 - L2) / (H2 + 100) * 100 = (90 - 35) / (90 + 100) х 100 = 28,95%
Percentdrawdown3 = (H3 - L3) / (H3 + 100) * 100 = (135 - 40) / (135 + 100) х 100 = 40,43%
Percentdrawdown4 = (H4 - L4) / (H4 + 100) * 100 = (195 - 65) / (195 + 100) х 100 = 44,07%
Leverage
Leverage is a ratio between the deposit and borrowed funds. Credit leverage 1:400 means that you need to have in your trading account an amount which is 400 times less than the one required to open an order.
Risk ratio depends on the trading history and is calculated automatically based on the following parameters (weight factor is indicated for each parameter):
- 1. Maximal relative drawdown (weight factor 0,5)
- 2. Maximal deposit utilization rate (weight factor 0,3)
- 3. Leverage (weight factor 0,1)
- 4. Account lifespan (weight factor 0,1)
Each of the parameters above has its own scale from 1 to 10 points and its own weight in the final risk estimation. The total risk ratio is measured in values rounded to the nearest whole number.
Thus, the total risk ratio is determined by summing up points for each parameter multiplied by its own weight factor.
Risk = points of maximal relative drawdown * 0,5 + points of maximal deposit utilization rate * 0,3 + points of leverage * 0,1 + points of account lifespan * 0,1
1. Maximal relative drawdown (weight factor 0,5)
| Maximal relative drawdown (%) | points |
|---|---|
| 50,00 + | 10 |
| 40,00 - 49,99 | 9 |
| 35,00 - 39,99 | 8 |
| 30,00 - 34,99 | 7 |
| 25,00 - 29,99 | 6 |
| 20,00 - 24,99 | 5 |
| 15,00 - 19,99 | 4 |
| 10,00 - 14,99 | 3 |
| 5,00 - 9,99 | 2 |
| 0 - 4,99 | 1 |
2. Maximal deposit utilization rate (weight factor 0,3)
| Maximal deposit utilization rate (%) | points |
|---|---|
| 50,00 + | 10 |
| 40,00 - 49,99 | 9 |
| 35,00 - 39,99 | 8 |
| 30,00 - 34,99 | 7 |
| 25,00 - 29,99 | 6 |
| 20,00 - 24,99 | 5 |
| 15,00 - 19,99 | 4 |
| 10,00 - 14,99 | 3 |
| 5,00 - 9,99 | 2 |
| 0 - 4,99 | 1 |
3. Leverage (weight factor 0,1)
| Leverage | points |
|---|---|
| 400 + | 10 |
| 300 - 399 | 9 |
| 200 - 299 | 8 |
| 150 - 199 | 7 |
| 100 - 149 | 6 |
| 75 - 99 | 5 |
| 50 - 74 | 4 |
| 25 - 49 | 3 |
| 10 - 24 | 2 |
| 1 - 9 | 1 |
4. Account lifespan (weight factor 0,1)
Preset value is 10 points.
Let’s say an account had the following parameters and points (without considering weight factors):
Maximal relative drawdown: 22,5% = 5 points;
Maximal deposit utilization rate: 11,32% = 3 points;
Leverage: 1:400 = 10 points;
Account lifespan = 10 points;
So, the risk ratio with weight factors considered shall be calculated as follows:
Risk = 5 * 0,5 + 3 * 0,3 + 10 * 0,1 + 10 * 0,1 = 5,4 ≈ 5
Results
The contest was held from 2020.12.01 00:00 till 2020.12.31 23:59
�� forex demo contests 2021
| why demo contests? Because it's a risk-free opportunity to test your skills & win real money! Don't think it's a place for beginners: when prize stakes are high, there will be many skilled traders competing for the main trophy! |
| demo contests | prize | valid till |
|---|---|---|
| 27forex | mobius trader 7 demo trader contest | $2000 | dec/31/2021 |
| accentforex | "master scalper" demo contest | $1000 | jan/10/2021 |
| alpari | virtual reality contest | $500 | dec/31/2021 |
| AMEGA FX | AMEGA invest demo contest | $3000 | dec/31/2021 |
| dukascopy bank SA | strategy contest DEMO | $5000 | dec/31/2021 |
| FBS | FBS league | $450 | dec/31/2021 |
| forex euroclub | weekly demo competition (in russian) | $45 | dec/31/2021 |
| fxopen (forexcup) | demo contests | $600 | dec/31/2021 |
| grand capital | "drag trade" hourly demo contest | $200 | dec/31/2021 |
| grand capital | "futures trade" weekly demo contest | $1000 | dec/31/2021 |
| grand capital | "rally trade" daily demo contest | $500 | dec/31/2021 |
| hotforex | "virtual to real" demo contest | $2000 | dec/31/2021 |
| IAFT | traders demo contest | $20 | dec/31/2021 |
| instaforex | "FX-1 rally" demo contest | $500 | dec/31/2021 |
| instaforex | "instaforexsniper" demo contest | $500 | dec/31/2021 |
| instaforex | "one million option" demo contest | $500 | dec/31/2021 |
| instaforex | lucky trader demo contest | $1000 | dec/31/2021 |
| instaforex | real scalping demo contest | $2000 | dec/31/2021 |
| LAND-FX | demo competition-FX | $3000 | dec/31/2021 |
| liteforex | "best of the best" demo contest | $4000 | dec/31/2021 |
| LMFX | "learn & earn" demo contest | $1000 | dec/31/2021 |
| masterecnfx | demo trading competition | $1200 | dec/31/2021 |
| MFM securities | gungho demo contest V1 | $600 | jan/29/2021 |
| moneymaker | demo contest sponsored by instaforex | $250 | dec/31/2021 |
| NPBFX | contest on demo accounts | $1000 | dec/31/2021 |
| octafx | champion MT4 demo contest | $500 | dec/31/2021 |
| octafx | ctrader weekly demo contest | $150 | dec/31/2021 |
| roboforex | "demo forex" contest | $700 | dec/31/2021 |
| roboforex | "kingsize MT5" demo contest | $100 | dec/31/2021 |
| roboforex | "trade day" demo contest | $350 | dec/31/2021 |
| roboforex | "week with cfds" demo contest | $150 | dec/31/2021 |
| superforex | "gold rush" demo contest | $100 | dec/31/2021 |
| superforex | bitcoin mania | $100 | dec/31/2021 |
| uniforex | trading competition | $1000 | dec/31/2021 |
| weltrade | weekly demo series contest | $1500 | mar/21/2021 |
| westernfx | demo trading contest | $3000 | dec/31/2021 |
| WOHLSTAND FX | demo contest | $1000 | dec/31/2021 |
| world forex | "cash wars" demo contest | $1400 | dec/31/2021 |
Latest promotions:
Extra promotions:
Trader
PLEASE PUBLISHED WEEKLY DEMO CONTEST AS LIKE WEL TRADE AND LAND FX .
Trader
Конкурс moneymaker и instaforex 23 этап (18.01.2021-29.01.2021)
1 место – 250$;
2 место – 150$;
3 место – 100$;
4 место – 50$;
5 место – 50$;
http://www.Moneymaker.Team/index.Php?Threads/konkurs-moneymaker-i-instaforex-23-ehtap-18-01-2021-29-01-2021.18327/
регистрация доступна в течении всего времени конкурса.
Trader
MFM securities - demo contest V1
18th - 29th january 2021 ;
https://www.Mfmsecurities.Com/gungho-demo-contest-v1
Trader
Accentforex - "master scalper" demo contest
Available till : jan 10,2021
Trader
I want new weekly demo contest
Trader
Please request all broker published new and new demo contest
Trader
Simplefx - trading idea contest
Post your trading ideas on simplefx and share it on social media ;
win $100 ;
https://blog.Simplefx.Com/2020/12/11/youre-doing-it-anyway-show-us-your-trading-ideas-and-win-100
Trader
Конкурс moneymaker и instaforex 22 этап (04.01.2021-15.01.2021)
1 место – 250$;
2 место – 150$;
3 место – 100$;
4 место – 50$;
5 место – 50$;
http://www.Moneymaker.Team/index.Php?Threads/konkurs-moneymaker-i-instaforex-22-ehtap-04-01-2021-15-01-2021.18255/
регистрация доступна в течении всего времени конкурса.
Trader
Please published new years demo contest request all broker
Trader
Octafx - win $1K instagram new year contest
End – december 24, 2020 ;
make a video on the following theme of ‘octafx, I need your $1,000 to boost my goal’ ;
https://www.Instagram.Com/p/ci48fmecfsr/
Trader
PLEASE COME NEW WEEKLY DEMO CONTEST REQUEST ALL BROKER PUBLISHED NEW WEEKLY DEMO CONTEST FOR CLIENT
Trader
MFM securities - kamikaze demo contest V7
18th - 31st december 2020 ;
https://www.Mfmsecurities.Com/contest
Trader
Конкурс moneymaker и instaforex 21 этап (21.12.2020-31.12.2020)
1 место – 250$;
2 место – 150$;
3 место – 100$;
4 место – 50$;
5 место – 50$;
http://www.Moneymaker.Team/index.Php?Threads/konkurs-moneymaker-i-instaforex-21-ehtap-21-12-2020-31-12-2020.18211/
регистрация доступна в течении всего времени конкурса.
Arcond
ACM brokers | demo contest : " not found "
Atirox | chasing mavericks demo contest : " this site can’t be reached "
Hotforex | "virtual to real" demo contest : no " promotions "
Uniforex | trading competition : " page is under construction . " https://www.Uniforex.Az/en/musabiqeler/winners
Westernfx | demo trading contest : " westernfx DEMO trading contest will be announced soon! "
Forex demo contests
Hotforex » virtual to real demo competition
Grand capital » future trade demo contest
NPBFX » demo contest, iphone 11 pro
Octafx » weekly ctrader’s demo contest
WFOREX » demo contest, $23K fund
Roboforex » free monthly demo contest
Forex demo contests and competition
As a forex enthusiast who intends to succeed on the forex, you need a high level of discipline and a robust knowledge of how the market works. One good way to acquire forex knowledge is to participate in a forex contest.
Many online brokers create a platform for their traders, both newbies and experienced traders, to participate in forex contests. A forex contest is organized so that traders can compete among themselves and retain their trading interests. The contest is divided into two – forex demo contests and forex live contests.
Today, we will take a look at the concept of forex demo contests. We will walk you through the benefits of participating in a demo contest and what you should know before joining any contest.
But before we dive deeper, let’s quickly explain what a forex demo contest is.
What is a forex demo contest?
A forex demo contest is a risk-free forex trading competition organized by online brokers to allow traders to practice their trading skills and strategy and win cash rewards, gifts, or tradable money.
Participating in a demo contest is very simple and straightforward – all you require is to open a demo account with an online broker and skills in forex trading.
Benefits of forex demo contest
Forex demo contests are designed for beginner traders so that they can practice their trading skills and learn how forex trading works using a live account. However, it is not strange to also see experienced or expert traders participate in a demo contest. Since they may earn a prize without necessarily risking their real money.
Primarily, the major beneficiary of a forex demo contest is beginners. Beginners are encouraged to participate in demo contests because:
- It would help them to understand the forex market and how to trade without losing their trading capital.
- They will learn the various tools required to automate trades. This would help them both physically and mentally should they decide to take up a career as a forex trader.
- They will gain real-time insight into the dynamics of live trading. This would help them to avoid unnecessary mistakes that may cost them their hard-earned money.
- A forex demo contest allows traders to test, correct, or improve any trading strategy before applying the same to trade in a live environment.
- They can gain self-confidence, win rewards at no cost at all, and without any risks.
As a beginner, once you participate in at least two or more demo contests, you would be one step closer to becoming a professional trader. As you can see, forex demo contests come with so many benefits. Therefore, if you plan to take up a career in forex trading, we encourage you to participate in different demo contests as often as possible.
What should you know before joining A forex demo contest
Before you join any forex demo contest, keep the following in mind:
- Be informed that each demo contest comes with its unique rules and regulations. There is no one-size-fits rule for all the demo contests. These rules determine who is fit to participate in the contest, how prizes would be won, and how prizes would be redeemed.
- Endeavor to study all the rules and regulations and adhere to them. Non-compliance with the rules will automatically disqualify you.
- Choose a broker that is reliable and trustworthy.
- Only participate in a demo contest that is easy for you.
- Ensure you read forex-related news and stay updated with trends and events in the forex market.
The demo competition presents by the broker with the following common terms and conditions and is available only to specific demo contest accounts. However, the terms and conditions vary from broker to broker depending on the particular contest.
General terms and conditions of demo contest 2021:
Basically, the client needs to eligible to participate in the demo contest with an age of 18 or the legal age applied in his country of residence.
Only clients with a demo contest account are eligible to participate in this contest.
The client hereby acknowledges, confirms, and accepts to be legally bound by the terms and conditions as set out in the particular contest
Registration and trading period
The demo contest should have a registration date that the participants require to confirm their registration before the deadline. Some competition allows registration until the end of the contest, while others have a specific date to be registered.
Each contest has its duration suits their campaign, some of the common contest periods are monthly, weekly and many others. Among them there are contests runs on a regular basis with its particular timetable.
Usually, the leverage & initial balance is fixed for all contest’s accounts and cannot be changed.
Final thoughts
Okay, that’s it. Forex demo contests are a great opportunity for you to perfect your trading skills without depositing any funds or even losing your hard-earned money. Since forex demo contests are organized by online brokers, do your due diligence when choosing a broker to create a demo account with.
Lastly, what’s your experience like the first time you participated in a demo contest? Let us know in the comment section!
Flexible forex demo contests for newbie traders in 2021
What is forex demo contest?
We know that the forex contest is a challenge like a tournament. But there are two types of contests available in the forex. These are 1.Forex live contest and 2. Forex demo contest. In a live forex contest clients has to invest real money. But in a demo contest, traders don’t need to invest from their own pockets. Brokers will provide a fixed amount of money to every participant for participating in the contest.
The forex demo contest is a great opportunity for a newbie trader to test his/her trading capability. This type of contest is the opposite type of live forex contest. And also there is a very good chance to win a real trading prize money or cash. The most important thing is, you can win a prize without having risk. Sometimes pro traders also taking apart into these contests while there will be big prize money. Some of the experienced traders are telling that, if a newbie trader can win a demo contest than, he/she can be a good forex trader in real trading.
Some basic rules of forex demo contest: each demo contest has different rules, but few rules are common in each contest. There are some basic rules for the forex demo contest. You may check here below.
- The broker will specify the competition rules.
- Participants start the competition with the same balance.
- Most of the broker doesn’t allow multiple accounts from a single IP.
- Multiple accounts are not allowed by the brokers in demo competitions.
- Most of the broker make rules that, after joining the contest clients can’t withdraw themselves from the competition.
- Most of the brokers are providing winning prize money as real trading money. Which is able to trade in real forex trading. But some brokers are providing prize money for withdrawing.
Forex demo contests
Mostly forex demo contest is popular among newbie forex trader. It does not require any deposit or invest into account in order to join the forex demo competition. Demo contest is held among demo accounts where all contestant gets the same facilities like initial balance, margin level, margin requirement, leverage etc. At the end of the fore demo contest account with the highest balance declared as the winner. Cash or tradable money or gifts are distributed as the prize. Find the list of all available forex demo contests 2021
Forex demo contest 2021
Demo competition brings the opportunity for all forex traders to trade without any cash deposit. Generally, it is required to register an account for the contest where trading takes place with the virtual money. All participant has the same trading opportunity and environments such as equal balance, leverage, and terms. Contest duration varies as there are different lengths of competition comes from different forex broker. For example – there are weekly, monthly, daily, hourly and even random time frame of the contest out there.
Forex demo competition
Joining a trial or demo contest provide the opportunity to gain reward and at the same time it is a great way to test the trading skill and trading technique. In this process, a trader can build his trading confident throughout the process.
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Online forex demo contest
Forex demo contest
A forex demo trading contest is characterized as a trading challenge that fundamentally hung on the demo accounts. This demo trading competition has no monitoring risk for the forex contestants or customers, yet every penny, which is the money winning a prize are exact.
What do you understand by the forex demo contest?
Online forex demo contest is a typical type of rivalry. There are different cash prizes or presents for the winner and regularly for the next in line visit. Typically there is no passage of charges only a couple of various guidelines and principles that are needed to be followed. The primary point of the demo account is basically for new clients to figure out forex trading and choose to stay with the broker working in competition.
Tips that will help you in becoming forex demo contest champion
Keep aside all your worries about playing a safe game
Match your difficulties according to the length of the challenge.
Sometimes demo challenges reward more than one winner.
Sometimes it tends to be fun just to play.
It is fun to be a part of this game.
Below you can check some of the renowned broker houses summaries, have a look:-
Alpari: alpari offers all new traders, a virtual battle for the real money world. Here contestants can win cash prizes without facing any chances with their assets. This is the reality that trading with the computer-generated experience competition is hung mostly on the demo accounts—all you have to assure your win to accomplish the best trading outcome.
FBS: FBS is the client situated brokerage in the globe. Indeed it is crucial to offer the most remarkable support level set to the most significant standards and connect them. FBS offers all new traders an incredible demo contest-FBS pro participation allow you to trade on your demo account and help you to win up to $450.
Hotforex: the hotforex, virtual to the real contest, is a real challenge; therefore, it just hung on the demo accounts. Here is no monetary risk in the participation, but cash prizes awaiting winners are real, and those who secure 1 st place get $2000; the second winner wins $1000 and third winner USD 500.
Octafx: octafx gives forex business administration to its customers situated over 100 nations of the world. It provides monthly champion MT4 demo and weekly ctrader demo contest. Here the participants with the most elevated equalization will finish round successfully at the first prize.
Forex demo contest: BEST OF THE BEST
BEST OF THE BEST forex demo contest
Trade profitably on a contest forex account by use of currency pairs and any other available trading tools at liteforex. Trade actively and show the best profitability result among all forex demo contest participants.
Five participants whose trading will be the most profitable and risk factor - the least, with money management observed, will be announced as winners of the forex demo contest.
Current contest | 0:00, 1 january 2021
Terms and conditions
1. Registration, participation terms, contest period of the forex demo contest
1.1 the «BEST OF THE BEST» forex demo contest takes place every month, from the first of each month at 00:00:01 till the last of the month at 23:59:59, according to the server time GMT +2 (as indicated on the trading platform).
1.2 all participants commit themselves to provide true information when registering for the contest.
1.3 the clients from the USA, japan, israel, and EU countries may not participate in this demo contest.
1.4 when registering for the contest, a participant accepts all limitations and rules related to the contest. In the event of non-compliance with the contest rules, the organizer, acting through the liteforex company, may disqualify a participant in the course of the contest.
1.5 in case either attempts of entering the forex demo contest from several trading accounts/profiles or the fact of using anonymizers are found out, a participant will be disqualified.
1.6 in order to participate in the «BEST OF THE BEST» forex demo contest, a client needs to fully verify his/her personal profile and register for the contest on this page.
1.7 when registering on the site, a participant needs to fill in the fields of the registration form above and specify his/her email (login from the client profile) and a nickname to be displayed in the ranking of the demo contest «BEST OF THE BEST».
1.8 any liteforex’s profile holder may participate in the «BEST OF THE BEST» forex demo contest once a month. One individual may register for each current contest only once.
1.9 after the registration form is filled in, a contest demo-account with a unique login number and password will be opened for a participant. These details will be sent to the email-address indicated when registering for the contest.
1.10 the registration for a new contest stage is open as soon as the previous contest stage starts.
2. Terms of trading of the forex demo contest
2.1 type of account: DEMO ECN.
2.2 initial balance: 5000 (the same for all participants).
2.4 risk stop out: the maximum drawdown acceptable in a contest account equals 25% of a current balance. As soon as floating loss exceeds this value, risk stop out will occur and all open positions will be closed. A participant who has allowed risk stop out to happen in his/her account will be disqualified.
2.5 trading tools: any tool provided by liteforex
2.6 A participant may use trading experts and trading strategies without any restrictions provided that the terms of liteforex’s effective liteforex’s "client agreement" are respected.
2.7 all transactions must be closed before the contest finishes. Should there be any open transactions at the moment when the context finishes, they will be automatically closed at a current market price. The presence of open transactions at the moment when the contest ends does not entail disqualification.
2.8 other terms of trading on contest demo accounts correspond to the terms of trading on live ECN trading accounts in accordance with liteforex’s "client agreement".
2.9 liteforex reserves the right to refuse registration or/and disqualify a participant without providing a reason thereof. The reasons for disqualification can be the following
- - violation or non-observance of the "client agreement";
- - registration of several contest accounts by the same physical person or the presence of several client profiles belonging to the same physical person;
- - opening of opposite trades of big volume at almost the same time and using the same pairs;
- - use of quotes flow failures to make guaranteed profits;
- - presence of contest transactions, including lock trades, whose duration is less than 2 minutes;
- - ascertainment or suspicion that a participant has committed any kind of fraudulent action for being listed among the winners.
2.10 the participants that have not shown any trading activity for 10 days in a row during the contest period are excluded automatically.
3. Winners determination and prizes getting
3.1 the first 5 participants with the best profitability/risk ratio by the end of the contest will be considered as winners of the liteforex «BEST OF THE BEST» demo-contest. The final results will be formed within 3 working days after the end of the contest, as soon as they are checked by the security and risk-management departments.
3.1.1 the participants whose risk factor has exceeded 5 during the contest period shall be excluded from the contest, and their contest accounts shall no longer be displayed in the ranking.
3.2 only those participants who have been actively trading during the contest period and have increased their initial deposits without breaking the contest rules can be regarded as winners.
3.3 the participants who have gained prize-winning places from the first to the fifth according to the paragraph 3.1 receive money on their liteforex live ECN trading account; depending on the place, sums vary as follows:
| Rank | prize sum, $ |
|---|---|
| 1 | $4000 |
| 2 | $2500 |
| 3 | $1500 |
| 4 | $1000 |
| 5 | $1000 |
3.4 in case two contest participants have the same balance value following the results of the demo contest BEST OF THE BEST, the liteforex company, as the contest organizer, shall decide between them, giving preference to the participant with the least maximum drawdown shown over the contest period.
3.5 the winners on the TOP 5 final list shall:
- make sure that their client profiles are fully confirmed according to liteforex’s requirements;
- open an ECN trading account in the social trading system;
- send an email from the address specified when registering for the contest to contest-demo@liteforex.Com, indicating: the contest name - «BEST OF THE BEST» (demo); contest demo account number and trader’s password; trader’s ECN account number; email address specified when registering a profile.
3.6. The winner shall be aware that prize payment requests are accepted only within the first 2 weeks following the end of the contest the account has been participating in.
3.7 liteforex reserves the right to request any additional information regarding the participant’s identity when crediting a prize.
3.8 A participant awarded a prize may not demand that the prize amount be credited to third parties’ accounts.
3.9 prize funds are credited to a client’s real account, opened right after participation in the contest, within three working days after the request has been sent. (p. 3.5)
3.10 prize funds are credited to the credit column, belong to the company and are provided to a winner as an initial investment for participating in the social trading service as a trader. Profits made by a winner in his/her trading account by use of prize funds may be withdrawn without any restrictions. Also, percentages of his/her investors’ profits made from social trading may be withdrawn at any moment and without any restrictions too.
3.11 as organizer of the contest, liteforex has the right to refuse a prize without giving explanations if there is a suspicion of rules violation or if a winner has refused to verify his/her profile and provide additional information regarding his identity as per p. 3.7.
3.12 under the program for protection of investors’ interests, the company reserves the right to hide a winner’s real ECN account from the monitoring of the social trading platform and deduct prize funds if the winner’s trading by use of prize funds becomes high-risk. If a drawdown has exceeded 25% of a current value «balance+credit» when trading by use of prize credit funds, they will be withdrawn by the contest organizer.
3.13 trading by use of prize funds on his/her trader’s account on the social trading platform, a winner undertakes to follow a low-risk trading strategy and not to exceed a risk level of 5.
3.14 as organizer of the contest, liteforex has the right to amend the contest terms at any time without special notification.
3.15 liteforex reserves the right to use the information related to the winning accounts for advertising purposes and publish it in any sources of information. The winners are invited to participate in liteforex’s advertising and marketing actions such as interviews, photo- and video-reports, and press releases concerning the contest. At the same time liteforex commits itself not to divulge the winner’s private information (including name and surname) without the winner’s consent. Should a winner refuse to participate in these actions, liteforex reserves the right to disqualify the winner and award the prize to the participant occupying the next place in the final ranking.
Parameters of accounts taking part in BEST OF THE BEST contest
Profitability
Profitability is computed using the following formula:
P = (equity - balance_start) / balance_start * 100 (%), where:
Equity – current account’s equity;
Balance_start – initial account’s balance ($5000).
Maximal deposit utilization rate
Maximal deposit utilization rate is a maximal value of an account’s deposit utilization rate during the contest.
Deposit utilization rate is a percentage of an account’s equity used as a margin for opened orders.
It’s calculated using the formula :
Margin / equity * 100(%), where:
Margin – a deposit amount required to open a position;
Equity – a current account’s equity.
Maximal relative drawdown
Maximal relative drawdown shows a percentage of losses in an account.
It’s calculated using the formula :
Max ((maximalpeak - nextminimalpeak) / (maximalpeak + 100) * 100) (%), where:
Max — the highest relative drawdown value;
Maximalpeak — the upper extremum value corresponding to max in the profitability chart;
Nextminimalpeak — the lower extremum value following maximalpeak in the profitability chart.
Example of relative drawdown calculation for the chart above:
Let’s estimate the extremums of the profitability chart ("H" for the highest and “L" for the lowest)
Relative drawdown values are calculated as follows:
Percentdrawdown1 = (H1 - L1) / (H1 + 100) * 100 = (80 - 50) / (80 + 100) х 100 = 16,67%
Percentdrawdown2 = (H2 - L2) / (H2 + 100) * 100 = (90 - 35) / (90 + 100) х 100 = 28,95%
Percentdrawdown3 = (H3 - L3) / (H3 + 100) * 100 = (135 - 40) / (135 + 100) х 100 = 40,43%
Percentdrawdown4 = (H4 - L4) / (H4 + 100) * 100 = (195 - 65) / (195 + 100) х 100 = 44,07%
Leverage
Leverage is a ratio between the deposit and borrowed funds. Credit leverage 1:400 means that you need to have in your trading account an amount which is 400 times less than the one required to open an order.
Risk ratio depends on the trading history and is calculated automatically based on the following parameters (weight factor is indicated for each parameter):
- 1. Maximal relative drawdown (weight factor 0,5)
- 2. Maximal deposit utilization rate (weight factor 0,3)
- 3. Leverage (weight factor 0,1)
- 4. Account lifespan (weight factor 0,1)
Each of the parameters above has its own scale from 1 to 10 points and its own weight in the final risk estimation. The total risk ratio is measured in values rounded to the nearest whole number.
Thus, the total risk ratio is determined by summing up points for each parameter multiplied by its own weight factor.
Risk = points of maximal relative drawdown * 0,5 + points of maximal deposit utilization rate * 0,3 + points of leverage * 0,1 + points of account lifespan * 0,1
1. Maximal relative drawdown (weight factor 0,5)
| Maximal relative drawdown (%) | points |
|---|---|
| 50,00 + | 10 |
| 40,00 - 49,99 | 9 |
| 35,00 - 39,99 | 8 |
| 30,00 - 34,99 | 7 |
| 25,00 - 29,99 | 6 |
| 20,00 - 24,99 | 5 |
| 15,00 - 19,99 | 4 |
| 10,00 - 14,99 | 3 |
| 5,00 - 9,99 | 2 |
| 0 - 4,99 | 1 |
2. Maximal deposit utilization rate (weight factor 0,3)
| Maximal deposit utilization rate (%) | points |
|---|---|
| 50,00 + | 10 |
| 40,00 - 49,99 | 9 |
| 35,00 - 39,99 | 8 |
| 30,00 - 34,99 | 7 |
| 25,00 - 29,99 | 6 |
| 20,00 - 24,99 | 5 |
| 15,00 - 19,99 | 4 |
| 10,00 - 14,99 | 3 |
| 5,00 - 9,99 | 2 |
| 0 - 4,99 | 1 |
3. Leverage (weight factor 0,1)
| Leverage | points |
|---|---|
| 400 + | 10 |
| 300 - 399 | 9 |
| 200 - 299 | 8 |
| 150 - 199 | 7 |
| 100 - 149 | 6 |
| 75 - 99 | 5 |
| 50 - 74 | 4 |
| 25 - 49 | 3 |
| 10 - 24 | 2 |
| 1 - 9 | 1 |
4. Account lifespan (weight factor 0,1)
Preset value is 10 points.
Let’s say an account had the following parameters and points (without considering weight factors):
Maximal relative drawdown: 22,5% = 5 points;
Maximal deposit utilization rate: 11,32% = 3 points;
Leverage: 1:400 = 10 points;
Account lifespan = 10 points;
So, the risk ratio with weight factors considered shall be calculated as follows:
Risk = 5 * 0,5 + 3 * 0,3 + 10 * 0,1 + 10 * 0,1 = 5,4 ≈ 5
Results
The contest was held from 2020.12.01 00:00 till 2020.12.31 23:59
Forex demo contests 2021
FXTM is offering a new demo contest (titans) to all of its clients. The competition will be held in 4 rounds throughout the year with a pool prize of $80000 ($20000 each). Among the skilled traders, 5 competitors with the highest profit percentage will receive the prizes in descending order. The clients are required to register for myfxtm before or during the contest, agree to the terms and conditions of the contest, open a demo trading account and start trading to achieve one of the top positions. The contestants can only use cfds in forex and metals, and standard account MT4 (USD) for this contest. In the final calculation, only the positions whose duration is more than 5 minutes will be included. Every contender can participate only once.
The profits are calculated according to the following formula: [net profits Г· 100000] x 100 = XX.XX%.
The winners among those with similar percentage points will be determined based on the lowest drawdown. The traders compete against one another in a virtual market with a $100000 initial deposit, so no risk is involved. The winners are to open a live trading account, provide the necessary documents to receive the cash prizes, fully withdrawable.
Hotforex broker hosts a monthly demo contest called вђњvirtual to realвђќ for all its verified clients. The prize pool for the competition is $3500 which will be shared among the 3 top traders who acquire the highest gain. Each client can participate only once and will have access to 1:200 leverage and $10000 virtual money. The awarded prizes can only be used for trading purposes and cannot be withdrawn; however, any profit you make is yours to withdraw after meeting the required conditions (trade 10 standard lots in no less than 50 round turn). The prizes will be transferred to the tradersвђ™ live accounts.
The winners will be determined based on the following formula:
gain = [(ending balance - beginning balance) / beginning balance] x 100.
Liteforex is hosting a monthly demo contest named вђњbest of the bestвђќ with a total prize fund of $10000. All the traders can compete for a whole month among whom 5 of the most profitable traders with the lowest risk factor and the best management plan will be awarded in descending order. The contenders can use all the available trading tools including the currency pairs. The traders are required to provide valid info (email, nickname, etc.) for full registration as requested and use one single account for this contest (MT4 demo ECN), otherwise, their eligibility will be nullified.
The demo ECN accounts come with a $5000 initial deposit, leverage up to 1:400, and a max 25% drawdown on the account balance. Bear in mind that the occurrence of stop-out, opening opposite trades in large sizes, lack of trading activity for 10 days or other mentioned activities will disqualify the contender. Before the end of the competition, all the open positions must be sorted out. Moreover, 3 days after the contest, the winners will be announced, and the prizes will be transferred to their real trading account. In the event of similar winners, the prize will go to the trader with the lowest drawdown during the period. The awarded prizes along with the percentage of investorsвђ™ profits are fully withdrawable.
So, let's see, what we have: win up to $2000 USD money to live trading account from forex demo contests. Here is the updated list of the contest. At free forex demo contest
Contents of the article
- No deposit forex bonuses
- Flexible forex demo contests for newbie traders...
- Forex demo contest: BEST OF THE BEST
- BEST OF THE BEST forex demo contest
- Current contest | 0:00, 1 january 2021
- Terms and conditions
- 1. Registration, participation terms, contest...
- 2. Terms of trading of the forex demo contest
- 3. Winners determination and prizes getting
- Parameters of accounts taking part in BEST OF THE...
- Profitability
- Maximal deposit utilization rate
- Maximal relative drawdown
- Leverage
- Results
- �� forex demo contests 2021
- Latest promotions:
- Extra promotions:
- Forex demo contests
- Forex demo contests and competition
- What is a forex demo contest?
- Benefits of forex demo contest
- What should you know before joining A...
- General terms and...
- Final thoughts
- Flexible forex demo contests for newbie traders...
- Forex demo contests
- Forex demo contest 2021
- Virtual reality competition, fund $8,760 – alpari
- Demo competition, win 1000 USD – ACM brokers
- Winter demo contest, $10K cash fund – leo prime
- Drag trade 1-hour demo contest – grand capital
- Demo contest moneymaker (S-18) – instaforex
- MT4 DEMO CONTEST, $11K FUND – N1CM
- Demo trading competition 2020 – global prime
- Demo competition, win 7,000 PLN and more – TMS
- Lotzilla trading contest 2020 – rally trade
- Future trade $1000 non-deposit contest – grand...
- Demo contest master scalper – accentforex
- Demo competition, cash prize $1K – acefxpro
- Demo contest, cash + iphone 11 pro – NPBFX
- Best of the best contest, $10,000 fund – liteforex
- Cryptomania demo contest, $3K fund – fxopen
- Traders demo competition – IAFT
- Demo trading contest, $3900 fund – vantagefx
- Demo contest, $23K+ fund, 1386 winners – WFOREX
- Online forex demo contest
- Forex demo contest
- What do you understand by the forex demo...
- Tips that will help you in becoming forex...
- Keep aside all your worries about playing a safe...
- Match your difficulties according to the length...
- Sometimes demo challenges reward more than one...
- Sometimes it tends to be fun just to play.
- It is fun to be a part of this game.
- What do you understand by the forex demo...
- Forex demo contest: BEST OF THE BEST
- BEST OF THE BEST forex demo contest
- Current contest | 0:00, 1 january 2021
- Terms and conditions
- 1. Registration, participation terms, contest...
- 2. Terms of trading of the forex demo contest
- 3. Winners determination and prizes getting
- Parameters of accounts taking part in BEST OF THE...
- Profitability
- Maximal deposit utilization rate
- Maximal relative drawdown
- Leverage
- Results
- Forex demo contests 2021
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