Cash A Blog

Free Forex Trading Competition with Real Cash Prize

After do some research of forex broker who open a free forex trading competition, I found some interesting data.

1. A lot of fx broker that offer such competition, but not free. You need to send your deposit first then you can register for the contest. Although the prize is very lucrative, I think it’s not appropriate for beginner to learn and feel the real forex trading experience.

2. Some companies do have free forex trading contest, but there’s no real prize. it’s for education purpose only. For some people, this can be good vehicle to explore forex world but it lack of motivation.

3. Forex Broker who run free trading competition with real prize usually are new broker. They offer the incentive to market their product. One company that still run the competition is Etoro. It’s already 8 months from etoro first launch date, September 2007 and the competition is still going.

Free entry to win real cash prize

Demo trading account can also participate at the contest and have same opportunity to win real cash prize. Trading contest is now open weekly. If you want to take a part on this, you don’t need to register for every week. Just register once, download the platform and you can compete every week.

If you are totally new for this, I tell you that their platform is very easy and innovative. It’s like playing game.

Current Prize for weekly contest are for demo account holder:

1st place gets $300

2nd place gets $200

3rd place gets $150

4th to 6th places get $100 each!

7th to 10th places get $75 each!

11th to 20th places get $25 each!

Current prize for monthly contest are for real account holder (minimum of $50 deposit required)

1st place gets $1,500

2nd place gets $1,000

3rd place gets $500

4th to 10th places get $250 each

11th to 20th places get $100 each

21st to 30th places get $50 each

Dare to test your skill? Why don’t enter the competition. It’s Free!! If you don’t want to download you can use etoro’s new flash enhanced trading platform.

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FREE & FUN FOREX TRADING COMPETITION

Another way to educate your guts in forex is by joining any Forex Trading Competition. And the cheapest way is to join free competition. Good news is, when you win you can keep the prize

Each month eToro holds championships with amazing cash prizes!
Traders with the highest monthly profits become winners!
You too can be a winner—simply go ahead and trade!

Accumulate as much money as you can and WIN. The higher your profit, the higher your cash prize.

Sounds too good to be true ? It isn’t !

Use eToro’s Trading platform and your trading skills to accumulate as much money as possible and become eToro’s champion.

eToro’s Fun Trading championships are open to anyone who holds an eToro’s account.

Championship Duration: every month.

• 1st place wins $500
• 2nd place wins $300
• 3rd place wins $200
• 4th to 10th places win $100 each!
• 11th to 90th places win $35 each!

Fun Trading Championship Rules:

• Traders’ Profits determine their ranking
• New users will be given $2,000 of demo money
• This amount shall be the opening balance for each trader
• New traders that have won prizes are required to open real money accounts with eToro (and to fund their real accounts with initial funds).
• All cash prizes are credited to the traders’ real account.

Please note that the championship bonus will only be given once (per account, person, household and/or any environment where computers are shared).

You can get free etoro account here and jump into next competition.

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SHOULD I GO WITH DEMO ACCOUNT?

Forex trading competition is great way for beginner to learn about trading in currency market. Most new trader fail to be come successful trader because of emotional decision. It’s very likely, a noobie will tempted when he/she make a very large money in only one hour. I bet they want to gain more and more. And when this is happen, your previous crystal clear analysis will be biased with your greed.

For that reason, forex broker always suggest their new client to open a demo account. So new trader will not burned all their money for short time period.

Demo Account vs Forex Competition

Learning with demo account is good step for beginner. Get familiar with the platform and do paper trade with virtual money. Unfortunately, using virtual money can’t train your emotion. It’s surely different situation when it comes with real money. Your money!

Yes… to educate your emotion is the most expensive lesson in forex. There are cheaper way that you want to try out. You can even get started with zero cost.

Utilizing forex competition is a clever way to do it. But most of contest require you to open real account with certain minimum deposit. Only few of them giving free entrance and you can keep your winning cash.

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Free $150 trading account with no deposit

Free opportunity in currency trading. I admit it’s very difficult to find. What I really mean is you can start trading with sum of money as bonus to start. No deposit needed to use the bonus. As far as I can find, there’s many of forex company that offers bonus or rebate after you make first deposit.

Nice free $150 for opening standard account. You don’t need to make deposit first to claim the bonus. And you can start your own forex trading immediately. However, you can’t withdraw the bonus UNLESS you have an active trading activities. You are free to use your bonus for start trading immediately.

Personally, I register because I want to ‘feel’ the real emotion in the battlefield. Sure you can use demo account to practice, but it is not the same when you use real cash. Even the cash is not from you pocket, I can tell you.. your fear and greed will dominate your emotion. This where the REAL trader has overcome. They managed to control it and take profit or loss as daily routines.

How to collect all those bonus

1. Register for standard account –> instant $25 on your account
2. Being active in discussion forum. Make good 100 post then ask admin to credit your trading balance –> Addition $25
3. Make good trade.. accumulate to 10 lot of transactions –> get another $100 free to your account.

Advantage:

• No need to make deposit to claim your bonus.
• Funds are transferrable between account.
• No IP restriction to collect the bonus. That is mean, you can register again and again to get the bonus.
• Metatrader 4.0 trading platform
• Supportive manager
• Tight spread (2 pips) on major currency pairs
• Allowed to use robot trading
• Has an active forum

Disadvantage

• Limited payment processor (currently not support paypal)
• Not NFA regulated
• Some people say it scam although it still questionable

For me, getting free account to start trading with ‘real emotion’ is very good point. My main purpose is learn, learn, and learn. Perhaps some day I can have good skill so I can use it for the future. So what do you think? Do you think this noob can survive in forex? I hope I can make progress report here on what I am doing in forex… So let me do the mistake and you learn it from mine You can subscribe to my feed to see my progress.. *so embarassed*

Alas… I almost forget to put the link to this broker..

Here it is.. Open standard account on ForexOpen or MicroAccount

Last Update

This free bonus promo has ended and replaced with new promotion from FXOpen

• Receive a $100 bonus after opening a Real Money account and trading the total of 10 Standard size lots.
  
  

  Example:
  You open a trade of 0.5 lots selling the EUR/USD pair, then you open another trade of 0.3 lots buying the USD/JPY pair, and finally you open a trade of 1.2 lots buying the GBP/USD pair. In total up to this point your total trading volume is 2 lots (0.5+0.3+1.2=2 lots). Once this volume surpasses the 10 lot mark the $100 bonus will be added to your account.

  
  

  * 1 time offer
  * Available for standard accounts only



• Open a new Standard Account and receive a $25 bonus (after an initial deposit).
  
  

  The minimum trading volume on a Standard account is 0.1 lots (10,000 units of the base currency) and the maximum trading volume is 1,000 lots per single trade. 1 pip while trading 1 standard lot is equal to approximately 10 USD.

  
  

  * You may withdraw the $25 bonus from your account once your trade volume exceeds 10 Std. Lots.

  
  

  If you withdraw any money from your account before you have accumulated a trade lot volume of at least 10 Standard Lots, then your bonus amount will be voided from your account. Note: You may open up to 10 accounts and still receive the opening bonus, all accounts opened after the 10th account will not receive our opening bonus.

  Note: there are no longer any IP address or PC restrictions on opening accounts.
  



• Open a new Micro Account and receive a $1 bonus (After initial deposit).
  
  

  The minimum trading volume on a Micro account is 0.1 lots (100 points of base currency) and the maximum trading volume is 1000 lots per single trade. 1 pip while trading 1 micro lot is equal to approximately $0.10 USD. The balance on Micro accounts is shown in cents.

  
  

  * You may withdraw the $1 bonus from your account once your trade volume exceeds 1000 Micro lots.

  
  

  If you withdraw any money from your account before you have accumulated a trade lot volume of at least 1000 Micro Lots, then your bonus amount will be voided from your account. Note: You may open up to 10 accounts and still receive the opening bonus, all accounts opened after the 10th account will not receive our opening bonus.



• Tired of your old Broker or your old trading conditions?
  
  

  You can transfer your money from your old broker to your account with us and we will give you a special welcome bonus equal to that of 5% of the funds you transferred to us.

  
  

  * This is a limited time offer
  * Transfer ONLY accepted from your old brokerage account.
  For further information please contact manager@fxopen.com

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