Biggest Forex Demo Contest

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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 2020

Forex Demo contest 2020

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.

Forex demo contest: BEST OF THE BEST

BEST OF THE BEST forex demo contest

  • ONE CALENDAR MONTH

TASK:

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.

WINNERS:

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 rating
  • Conditions
  • RESULTS OF THE PREVIOUS CONTEST

Current contest | 0:00, 1 June 2020

zbs

Ranking Nickname Account Balance Equity Profitability Risk
1 1003578863 11839.76 11526.41 133.43 % 5
2 Satari1388 1003521953 10003.73 10003.73 94.55 % 4
3 LauraandMelissa 1003556577 10638.08 10276.08 107.52 % 5
4 Effe 1003533382 10231.3 10259.88 104.59 % 5
5 Aratrok 1003570067 7652.4 9136.4 81.65 % 4
6 ILUAAN 1003521941 5000.18 9908.93 99.77 % 5
7 DMT 1003543625 8313.54 9004.56 78.66 % 4
8 hndrd 1003578780 4437 8540.4 70.53 % 4
9 Mogeehieta 1003566331 5000 7716.52 51.87 % 3
10 BookieFX 1003578850 9294.39 9277.99 85.89 % 5
11 SNAMK 1003550448 4679.29 8385.69 66.77 % 4
12 maribjon 1003574509 7111.08 8315.27 65.1 % 4
13 fOSHrex 1003560207 5000 7312.92 47.09 % 3
14 Selim 1003567261 4917.24 8963.95 74.82 % 5
15 xos 1003548868 8713.28 8713.28 74.27 % 5
16 matlansbh 1003573011 4743 8711.98 72.99 % 5
17 losalmeidas 1003523347 7101.22 7101.22 42.02 % 3
18 mah87 1003577760 7719.21 7719.21 54.38 % 4
19 MercyOfGod 1003570656 8377.17 8377.17 67.54 % 5
20 Kitty 1003530652 4908.47 8347.97 67.09 % 5

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).

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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).

2.3 Leverage: 1:400.

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 [email protected], 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. 1. Maximal relative drawdown (weight factor 0,5)
  2. 2. Maximal deposit utilization rate (weight factor 0,3)
  3. 3. Leverage (weight factor 0,1)
  4. 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 2020.05.01 00:00 till 2020.05.31 23:59

Top 10 Forex Contests 2020

Everyone has a competitive streak in themselves, am I right? Facing challenges and having a clear goal or something to strive for can bring out the best in us and show what we are truly capable of. Best Forex contests intend to do exactly that – Forex traders are competing against each other, showing their abilities and trading styles. The top contestants are of course rewarded at the end of the competition but the other participants always walk away with plenty of new knowledge and experience which is very useful at the end of the day.

Constant learning and exposure to the Forex market is a way to success, so next time you see an advertisement for a Forex demo trading tournament or something similar, do not glance over and ignore it. Many of them are worth paying attention to because you never know what you can learn from them and what impact those newly acquired skills will have on your future as a Forex trader.

If you do not want to compete with other traders, you can browse No Deposit Bonus category and pick the best free bonus for start! Also, you can claim one of two best no deposit bonuses below.

This list is intended to make your quest easier if you are searching for the best Forex championships around, so let’s take a closer look.

1. LiteForex Dream Draw contest

The LiteForex Dream Draw is one of the most well-rewarding contests among the hundreds available online. The broker has calculated very clearly and efficiently how they want to distribute prizes and what to give to their winners overall. The entry requirements are also quite fair compared to other contests.

With LiteForex anybody who has just made an account with the broker can participate in the contest. The requirements are that they deposit $500 and trade at least 10 lots. Once these requirements are met the trader is given a ticket that he can check on every announcement day if he or she had won a prize.

There are quite a lot of prizes too, they include: 1) a $250,000 certificate for buying a home anywhere in the world. 2) a $60,000 certificate for buying a Lexus GX. 3) A whole slew of the newest Apple products starting with the iMac Pro and ending with the newest iPhone 11 Pro.

The contest will continue for a whole year, up until May 3rd of 2021 and the first 5 winners will be drawn on the 3rd of August, so it’s best to register early and gather as many tickets as possible for a better chance to win!

2. MultiBank Fast & Furious Demo Contest

Multibank FX Fast & Furious Demo Contest is a great competition for the newcomers to the Forex industry and Multibank FX in particular. This contest offers generous prize of $10,000 to the winner! The competition is ran on the MT4 Demo accounts, so if you find this software suitable for you – go ahead and start competing right away!

3. RoboForex Demo Contest

RoboForex offers a variety of top Forex tournaments. Whether you want a daily challenge or something long term, this is a place for you. You have an ability to choose between daily, weekly, or monthly contests and all of them require an entry fee. Of course, you have to be a member of their website. The prize pool is distributed among the highest ranked top ten traders at the end of each contest, regardless of the challenge you decided to join.

The funds you win will be then distributed to your account and you can withdraw them at any time as long as all the requirements are checked and in order. You will be competing with a demo account in this instance so it is a great learning opportunity. You can test your skill in a risk free environment and track your progress overtime. Also, traders have the freedom to join at any time they want.

4. MFX Broker Freeroll Championship

MFX Broker offers two kinds of contests to their registered users – FX Rodeo which is a daily challenge and Weekly Jam that lasts from Monday to Friday. Weekly Jam can be regarded as the best Forex tournament of this duration. A participant is offered $10,000 of deposit to their demo account at the beginning of each round and they have an opportunity to win $500 at the end of it. FX Rodeo is a quick and exciting challenge which requires your complete focus and the price is attractive as well. The initial deposit is $5,000 and the award is $300. You don’t have to pay any fee in order to be a contestant but you will have to create an account on MFX Broker’s website.

5. InstaForex Contests

Another place where you can find contests of different durations is InstaForex. Daily, weekly or monthly… It is up to you to make a decision and start trading. Their Lucky Trader contest is often seen as the top Forex championship on various lists. It lasts for two weeks and the prize pool for a single round is $3,000. That amount of money is divided among the top traders.

Real Scalping is another contest worth your attention. It is a monthly challenge and every participant gets the initial $20,000. Those who have the biggest deposit once the challenge is over are pronounced winners. If you are interested in any of these challenges, head to the website and register. You need to have a InstaForex account if you wish to participate.

6. Alpari Formula FX

If you are ready to take off your training wheels and progress from demo to live contests, you should check out Formula FX. Yes, you will be trading with your actual funds but you will also have a chance to win real money to your account.

Formula FX is a weekly challenge open to Alpari members. There are twenty winners at the end of each round and the prize pool is $1,620. Your aim is to have a highest rate of return percentage. A winner can withdraw their award whenever they wish to do so. It is a great place to start with live contests and test the waters of live trading challenges.

7. OctaFX Supercharged

This Forex contest is a bit different because participants have an opportunity to win cars and various Apple devices. A prize changes in every round. A single round lasts for four weeks and you can join whenever you want. If you want to compete for these prizes, you need to have an OctaFX account and put $150 as your initial deposit. A trader who has the most points at the end of the contest will be a winner. Supercharged brought some freshness to the traders who love to participate in these kinds of challenges and it may even be the best Forex contest 2020.

8. Tickmill Trader of the Month

This contest is a bit different than the rest I have listed here. All Tickmill users are automatically in the running for the monthly prize. The winner is selected by a jury and he or she will win $1,000 to their live account. So how do you compete then, you might ask.

Well, the said jury picks a trader who not only showed outstanding skills and earned the most profit, but they also analyze their trading style and methods as well as the risk they are willing to take in order to be profitable. The only downside to this is the fact that you will be competing against a large number of traders but that can surely motivate and inspire you even more.

9. Mayzus Scalping Wars

If you love to trade with a lot of energy and you are bored when the market is not moving, give Mayzus Scalping Wars a chance. It is a contest for demo accounts and it is held on a weekly basis, from Monday to Friday. Each trader will receive virtual $10,000 and their primary goal is to be as profitable as possible. Five winners will be announced at the end of each round and they have an opportunity to win up to $500 to their demo accounts.

The majority of traders who participate in competitions enjoy this sort of tournament and Scalping Wars is a truly great Forex demo contest 2020. This is also an excellent learning opportunity if you want to know more about scalping and how it actually works. Many traders shy away from this style of trading but you never know, it might suit you better than the method you are using at the moment.

10. Grand Capital Drag Trade

This is another fast paced demo contest on this list. Drag Trade is really short since it lasts only for an hour. This is a good thing since you will be able to see the results pretty quickly. You can compete in this contest every Friday from 5:00pm to 6:00pm Moscow time. And you can walk away with great prizes. Top ten places are awarded and the winner will receive $200. There are no fees for those who want to be a part of this challenge and you need to register prior to the start of the challenge.

Special Edition – DMM FX Live Forex Contest

Are you looking to feeling that a regular contest would be just a waste of your time? It can certainly be if you are experienced enough.

This is why you are provided with a great chance to trade on a live account and participate in the contest within the same time.

Sounds good, doesn’t it?

Participating in this contest is simple as 1, 2, 3, just follow this steps:

  1. Open a Live Account with DMM FX
  2. Deposit at least 200 AUD / USD / EUR or 20,000 JPY
  3. Trade and win up to 10,000 USD in cash

Act before it is too late, the contest lasts only until 19th of March. This offer has expired. Browse through Forex Championships category.

If you do not feel that contests are the right way for you to go, there are always Forex deposit bonus and no deposit deals. For those of you who want to start trading without investments, we would advise the best free FX deal can be claimed via button below.

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