A Forex trading competition allow you to trade risk-free while giving you the opportunity to win cash or tradeable money. Competing gives you the chance to improve your trading skills without the stress of losing your money.
Why should I enter a competition?
- Competitions can be entered for free: No capital required.
- Compenations allow you to gain experience and enable learning.
- You can win cash prizes: no chance of losing money.
- gain experience and compete against traders with similar experience.
- Test your trading strategy without the stress of losing your money.
trustworthy brokers that run forex trading competitions
XM is a globally recognized forex broker with a high trust rating and good social reviews that offers competitions on a regular basis. We have found this broker to be very friendly with a good support system for helping with problems. thay have ther own trading platform to run free forex trading competitions
comon mistakes made in a forex trading compotition
The majority of people who enter forex competitions in general have very little experience on how to trade the forex market; most demo competitions give you a large starting balance. This is usually way above what you would open a real account with. Large accounts tend to give a false sense of security and often lead to trading too little or too much. Remember the basic rules, i.e.,ie trade no more than 2% of your available capital per trade. Overtrading and playing catch-up are key factors in most trading failures. Remember to stick rigidly to your trading strategy. and keep a journal for reference.
This broker offers MT5 downloads and compotitions for forex trading. This allows you to obtain practical trading experience while acclimating to the trading platform. An additional benefit is that it offers the possibility of winning real money without putting your hard-earned cash at jeopardy.\\\