Participation in Forex tournaments.

To advertise brokerage companies and stimulate traders' desire to trade, most brokers hold regular tournaments on demo or real accounts.

What does participating in such competitions give a trader and is there any point in wasting time on tournaments at all, or is it better to trade quietly?

improving your own strategies. Firstly, you should answer the question - “What are the benefits of participating in Forex tournaments?”

• Money - some of the brokers provide the opportunity to withdraw prize money, and the winning amount is quite large and sometimes exceeds $1000.

• Money for trading - most companies do not allow withdrawals. but it provides the opportunity to use the funds received 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. • Assessing your own strengths - if you think that you are just a guru in trading, the 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 - having taken one of the first places, you become a candidate for the position of manager, it is clear that you will still have to confirm your qualifications with stable profits in real trading.

That is, you definitely need to participate; as a result, you don’t 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 broker’s company better.

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