We know how great it is to see a match that involve our favorite team and see the competition between the teams.
Let’s face it, staying in front of a computer to do online trading alone is not always fun. It is possible to be alone, in front of a computer, but trading and compete with other people.
This is the case of Forex Competition and Forex Tournaments.
A Forex competition is a trading game based on financial markets. This offers competitions of skill between registered members, based on variations in the prices of financial instruments on the real world markets in real-time.
Trader’s competition is based on their trading skills. Virtual financial instruments are bought and sold. As a result of their buying/selling activities, the participants will make a profit or loss on their virtual portfolio.
The trader who gets the highest profit wins the competition. It is possible to win prizes that are distributed based on the number of entrants.
People across the world can play and trade against each other. Success is based on their trading experience. The winners are the best traders with the best performance.
Forex competition offers people the excitement and enjoyment of trading with a large potential profit and little risk. But also, the possibility to play against other people of other countries and deal with other trading strategies.
In this type of competition it is possible to trade in the market you usually trade or choose another market. If you are familiar with Forex trading, you might like to trading with the Index Futures.
The timing is always different, sometimes you’ll have a view on where the markets will go in the next 10 minutes; sometimes you’ve got a longer view. The duration can be of 30 minutes or a week or more.
We talk about Forex Tournaments when there are several tournaments depending on the markets and a variation in time allocated to the different categories of traders (beginners, experts, day traders etc…).
In Forex tournaments, the trading game continues until the end of the time because the game has a predetermined duration. The duration is from 15 minutes to three months, for every kind of traders.
The game is composed by rounds and the best traders (one or more) of every round advance to the next. Who lose credit is eliminated.
At the end, who grosses the most credit wins.
Credit card details are needed when you’re ready to join a real trading game. Once you’ve made a deposit, you can join the trading game of your choice.
There are also free demo accounts that allow Forex competition and tournaments, but do not expect to win a prize if you gain more than others.