With the high risk in the forex market, every opportunity to get free capital is a golden opportunity for those of you who want to start forex. The contest held by OctaFX is one way to minimize losses in forex because the prizes that you get can be withdrawn as your initial capital to start your adventure in the world of forex.
OctaFX regularly holds demo account contests every week with a prize pool of US $ 400. This means you can try to participate every week to become 1 in 5 winners every week. The contest starts with the initial funding of US1000 in a demo account and the winner is determined by the highest amount of funds at the end of the contest period. With a leverage of 1: 500 you are free to use all trading techniques and expert advisors.
To be able to take part in this contest, of course you must create a live account on OctaFX and open a cTrader Weekly Demo Contest account from the Personal Area on the OctaFX website. You are only allowed to take part in this contest using only 1 account per period. You can find your contest rank in the My Accounts list on the main page of your Personal Area.
Contest prizes:
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- 1st place winner is awarded with 150 USD
- 2nd place winner is awarded with 100 USD
- 3rd place winner is awarded with 75 USD
- 4th place winner is awarded with 50 USD
- 5th place winner is awarded with 25 USD
Terms & Conditions:
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- The Contest duration is 1 week from the start date to the finish date.
- Registration for the Contest is announced a week prior to its start. During the registration period anyone can register in the Contest.
- Only persons of legal age are able to take part in the Contest.
- Each participant must register a new demo account for each Contest round.
- Each participant agrees to provide real data during the registration. Providing fake data may result in disqualification from the Contest.
- ANY KIND of IP match will be subject to disqualification.
- Any kind of arbitrage trading or any other abuse with pricing and/or quotes will be subject to disqualification from the Contest.
- Account type – similar to OctaFX ECN account
- Trading tools – similar to OctaFX ECN account
- Initial deposit – 1,000 USD
- Leverage: 1:500
- Minimum volume – 0.01 lot, maximum volume is not limited
- All trading techniques or EAs are allowed.
- All the current contest stats are available at OctaFX website.
- On the contest finish date all the open orders will be automatically closed at the current market rate.
- The participant with the highest balance wins the contest.
- Winners agree to publication of their names in the Company news.
- Each contestant agrees that some of his/her registration data (including but not limited to country of residence) will be published at www.octafx.com.
- The prize is paid into the client’s Wallet and can be withdrawn.
- In case two or more contest winners have equal balances in the end of the contest, they will share the prize equally.
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[Info_Box]Read on this OctaFX contest page for more detail.[/Info_Box]