Participation in Forex tournaments.

To promote brokerage companies and encourage traders to trade, most brokers hold regular tournaments on demo or live accounts.

What benefits does participating in such competitions offer a trader, and is it worth wasting time on tournaments, or is it better to trade quietly and refine your own strategies?

First, it's important to answer the question: "What benefits does participating in Forex tournaments offer?"

• Money - some brokers provide the opportunity to withdraw prize money, and the winning amount is quite large and sometimes exceeds $ 1,000.

• Money for trading - most companies do not allow withdrawal, but provide the opportunity to use the received funds in real trading, and on more favorable terms than when using bonuses . After that, you get a chance to turn the prize into real money.

• Evaluation of your own strengths - if it seems to you that you are just a guru in trading, 50th place in the tournament will immediately bring you down to earth. Forex tournaments are a real chance to evaluate your own preparation and draw appropriate conclusions.

• Attract the attention of a broker - taking one of the first places, you become a candidate for the position of manager, it is clear that your qualifications will still have to be confirmed by a stable profit in real trading.

That is, you definitely need to participate, as a result you do not lose anything, and the chance to gain is quite real, in addition, the tournament is a real opportunity to get to know the work of the brokerage company better.

A wide selection of different tournaments is available from brokers such as Alpari , InstaForex , RoboForex .