On the average, about 1,500 traders a month sign up for each contest organized by Grand Capital. The number of participation requests show that intense competition doesn’t scare, but rather attracts traders.
1,791 traders have signed up for the next round for one of our contests, and we have already received 1,320 requests for this September’s Future Trade. On the average, around 1500 of clients come forward to participate in our monthly contests. In the end of each event, only ten traders emerge as winners and are awarded with real-money prizes. Despite the fierce competition, more and more clients want to test themselves in trading competitions.
Who benefits from Forex contests?
Forex contests are suitable for both beginners and professional traders. For newcomers, it’s a chance to put their knowledge to practice, in the real market and in a competitive environment. In case of victory, they can use the prize money to start trading instead of their personal funds.
Professional traders also often enter such competitions, even those that run on demo accounts. That’s how they polish their skills, test new strategies, and increase their balance with prize money if they win.
What motivates traders to participate in contests?
Regular participants make up approximately 30% of all traders who take part in Grand Capital contests. The competitions are held several times a month, and for many they have become a goldmine: winners get funds for trading, cut risks, and make higher profits.
Victory in one of our contests means extra money is added to your account: use it for trading, and you will be completely free to withdraw the profit. The amount of prize money in various contests ranges from a few hundred to several thousand dollars. Real money prizes are both tradable and withdrawable.
As a rule, each contest has several winners. For example, in the monthly Future Trade, the first winner gets a $1,000 no-deposit bonus with the possibility to withdraw the profit. The second place gets $200, and the third place gets $150, and so on: everyone in the top ten gets their reward.
Self-test before serious trading
It’s perfect for newcomers: they get to test their skills without risking a real investment. Risk-free trading in a highly competitive environment is both safe and makes you feel the thrill of competition, while learning how the real financial market works.
Even experienced traders say that competitive trading is more difficult than the real one—if one wins in a competition, their real trading activities will also generate more profit.
Types of trading contests
Micro Trade: Forex contest on real accounts
This contest is suitable for both established traders and those who are just making their first steps. Every last week of the month, participants trade on Micro accounts with a deposit of $50 to $200. The top ten traders get 10%–300% of the difference in equity, plus all the profit they made during the round.
Drag Trade: a blistering contest on demo accounts
This trading competition takes place every Friday 5PM–6PM (terminal time). All participants have only an hour to prove their worth and win the main prize—real withdrawable $200. Classic Forex instruments are used for trading in this contest, they are available in a special Drag Trade demo account in WebTrader.
Rally Trade: take your trading strategy for a test drive
A well-chosen trading strategy is already 90% of success in the market. Rally Trade offers a great chance to test your trading system with a possibility to win a money prize in the process. Once in two weeks, from 3PM on Thursday to 3PM on Friday (terminal time), each participant gets a demo account with $10,000 and access to all classic Forex instruments. The participant who manages to generate the most profit is proclaimed the winner and awarded $500 in bonuses with a possibility to withdraw the profit. As with the other contests, the rest of the top ten won’t leave empty-handed: all winners get money prizes.
Future Trade: make the most profit to get $1,000 no-deposit bonus
Future Trade is one of the most challenging competitions in the financial markets. Each participant gets a personal demo account with access to over 250 CFDs on stocks (except for US companies), commodities, indices, currencies, or metals. The contestants are free to choose any instrument and strategy. After a week of trading on a demo account with $10,000, the trader who makes the most profit gets a $1,000 bonus. All profit made trading the bonus funds can be freely withdrawn.
Here’s what real traders have to say about our Forex contests:
Amir Khan: Winner of 322nd round of Drag Trade
“I participate in contests of several brokers, but I especially like Drag Trade because it is one of the few contests that last for just 1 hour. I won’t hide the fact that this round was won by a robot specifically designed for short-term contests. One of my friends develops EAs. He took it as a challenge when I mentioned the contest, so he made a robot for me that would suit short contests.”
Lidiya Rudenko, the winner of the 41st round of Future Trade
“I’ve participated in the contest many times. I’ve always thought though that the first place is unreachable, but my luck turned and here I am! My preferred style of trading is long-term trend trading without time limits. I like large timeframes. However, it’s very different during the contest. If you want to win, you have to take risks, trade larger volumes, and make unconventional decisions. I believe that these are the main prerequisites for victory. This round was very intense. I didn’t believe I would come first until the last moment, because the previous winners finished their rounds with much better results. I think that my determination helped me to win.”
Evgeny Lebedev, the winner of the 40th round of Future Trade
“My trading behavior in a contest is always different from my ordinary activity in a real account. You have to take more risks because it’s impossible to achieve great result in a contest with a cautious strategy and tight money management. It’s a kind of stress test before the sensible trading on a real account.”
Your behavior in a contest may be similar to your regular trading activity, or it may be completely different: it’s a place for experiments, here you risk nothing, but get to test new strategies. Choose your contest to suit your needs, and start polishing your trading skills!