InstaForex Contests Overview
Real prize Forex Contests are special events where traders compete for the best performance in trading. As a rule, making a big profit is a successful trade. The trader who earned the largest profit without violating the conditions is considered the winner. The traders’ competition is held by a broker with the aim of:
- Attracting new customers;
- Promotion of a new brand;
- Choosing a professional player.
InstaForex is one of such brokers that offers a lot of Forex contests to customers. It is very difficult to overestimate the real competition in the market. The competitions have positive aspects:
- The opportunity to receive a monetary reward – the prize fund can be over a thousand dollars.
- The presence of excitement and a competitive spirit. In trading, the psychological aspect is very important, which very often affects the effectiveness of the transaction. Contests allow you to feel the psychology of trading without the risk of losing your own deposit.
Let’s explore and find out more information about InstaForex contests.
How do InstaForex Contests Work?
InstaForex regularly holds contests where the annual prize pool exceeds $500,000. All contests on InstaForex can be divided into 2 sections:
- Contests for real accounts;
- Contests for demo accounts.
They are self-explanatory. We will have a look at some competitions, how they are held and what prizes they offer to customers.
Contests For Demo Accounts
Contests for demo accounts are held frequently. Generally, they do not have a limited period of time, so you can take part in them any time you want. These contests take place on a demo account and you do not have to risk real funds.
FX-1 Rally is a one-day contest on demo accounts, all trades of the participants of which are automatically closed at the current prices at the time of its completion. The winners are those with the largest deposits. The initial deposit to take part in this contest is 40,000 USD. The prize fund is equal to 1,500 USD. It is held every Friday from 00:00 to 23:59. Prize funds are not available for withdrawal, but the profit received from them can be withdrawn.
One Million Option
One Million Option is a weekly demo contest for participants who enter into options to raise or lower on the proposed instruments. 10 rating points are awarded for each won option and deducted for each lost option. The winners are the participants with the highest rating according to the final results. The prize fund for the contest is 1,500 USD, while the starting rating starts from 1,000 points.
Lucky Trader is a two-week contest on demo accounts, the winners of which are determined by a rating based on summing up the profit for all positive trades and subtracting all negative ones. The prize fund is 3,000 USD and the duration is every two weeks. The initial deposit required is equal to 30,000 USD. Registration for the next stage is available during each current competition.
InstaForex Real Scalping is a monthly contest on demo accounts, all transactions of the participants of which are automatically closed at the current prices at the time of its completion. The winners are those with the largest deposits. The initial deposit required to take part in the competition is 20,000 USD. As for the prize fund, it is 6,000 USD per month.
Contests for Real Accounts
Contests for real accounts are also popular and you can discover a bunch of InstaForex competitions on the websites. We will review some of the most popular ones.
Chancy Deposit – a monthly drawing of 4000 USD for trading accounts with replenishment in the amount of 3000 USD, if this condition is met, they are automatically included in the promotion. Each month, one winner’s account number is randomly assigned to receive the prize amount. The prize is a non-withdrawable amount and only profits in excess of the prize can be withdrawn. The withdrawal of prize funds from the trading account occurs automatically when the first application is made to withdraw the earned profit.
Miss Insta Asia
InstaForex broker has an unprecedented project! The most unusual beauty contest on the entire Internet is Miss Insta Asia! The Miss Insta Asia contest is held for absolutely all women living in the Asian part of the world. This is the most honest, incorruptible, objective beauty pageant on the web! You can take part by registering on the page. The annual prize fund is 50,000 where the winner gets 20,000 USD.
Trade Wise, Win Device
The competition is held among the company’s clients – a unique drawing of such mobile devices as iPad, iPhone, Blackberry, and Samsung Galaxy Tab. In order to become a participant of the promotion, it is necessary to fulfill the only condition of the drawing – to replenish your trading account with InstaForex with at least 500 USD and register on the contest page.
Pros and Cons of Participating in InstaForex Contests
The arguments “for” participation in the competition are:
- Chance to win the competition;
- Receiving prize money can help resolve the issue with the initial capital;
- The opportunity to try yourself in a new direction;
- Testing your own strategy with minimal risks;
- Gaining popularity in the circles of fellows;
- Close acquaintance with the broker;
- Wonderful vacation in the “off-season”.
Among the disadvantages of participating in Forex contests, there is only 2 – the loss of time when participating in competitions and initial deposit. But a useful and interesting pastime can capture the trader’s attention completely, thereby eliminating the only negative. Initial deposits might seem larger. Because of that, you need to get some experience before you engage in the competitions.
Does participation in the competition help in real trading?
Forex is the place where a competent investment brings a stable income. Contests, in addition to honing the strategies themselves created, allow you to show everyone and yourself the professionalism of a trader. Trading like this is especially useful for beginners when:
there are no free funds for trading, but THEY really want to test their own strengths in a new direction;
The reward for participating in contests on a demo account will not be long in coming. Contests are held daily, which allows a beginner to quickly earn starting capital for trading on real accounts.
Don’t be upset when you lose. The conclusion must be made correctly because something must have led to the loss. Analyzing your own actions will help you avoid future mistakes.
Contests are excellent assistants in learning the intricacies of trading in the international Forex market. Participation in the competition brings only positive aspects, especially if it is trading on a demo account without real rates.
Are InstaForex Contests Available only on Real Accounts?
No, InstaForex contests are also available on demo accounts. In fact, demo accounts have way more contests compared to the real ones. Here you can have a look at more than 5 contests that are held regularly. The prize fund is really big and you get the chance to claim other prizes too.