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Live Forex Contests Are the New Game-changer

The world of forex trading is getting more and more competitive by the minute, and forex brokers are coming up with new ways to bring new players to the game. Bonuses are one such thing, and brokers are indeed attracting more people to engage in forex trading. These bonuses are not new, however, and what you should really watch out for in forex trading are the so-called live forex contests.

But before we discuss what a live forex contest is, let’s first describe forex contests.

What Is a Forex Contest?

A forex contest is a type of bonus that is offered by some brokers in the business. Forex contests are events where invited members could participate and compete using their skills and knowledge of the market in order to win the reward. These rewards often come in the form of cash or a gift from the broker. Forex contests are a great way to break the boredom that often comes with forex trading. It offers an exciting way to have fun while earning extra cash in the process.

What Is a Live Forex Contest?

Live forex contests are a type of forex contest geared towards more advanced traders who are looking for something more challenging. Depending on the broker, traders are either invited or pay a small fee to join a live forex contest, and once inside, they compete with fellow traders to see who will earn the most profits. The winner then gets the reward, plus the earnings he got from his trading.

Many long-time traders are staying on the industry because of this feature, saying that the live forex contest is like a lobby where traders get to socialize while having fun and earning some extra profits at the same time. While that may be the case, live forex contest is definitely not for beginners because the risk is often greater than the reward. For beginners, it is recommended to try the other type of forex contest: forex demo contests, which we’ll talk about in another article.

Are Live Forex Contests Worth Trying Out?

Live forex contest is a rare and unique feature of forex trading, and many traders are saying it is worth trying out. Here’s why:

Bigger rewards

  • If you’re one of those guys who have reached a plateau in their earnings, joining a live forex contest can bump up your profits. The bigger rewards system is a deal-breaker for most traders, and cash is not the only thing you can winsometimes brokers give out mobile phones and other gifts for their rewards.

Diversified trading experience

  • Forex trading can get boring with all the numbers and figures. In fact, this is one of the reasons why people don’t think highly of forex trading. However, a live forex contest changes that and gives traders something new to play around, making their experience much more holistic.

Gauge your trading skill

  • Engaging in a live forex contest allows you to see where you are in the playing field by comparing your performance to other traders who are about the same level as you. This gives you indispensable insight into your own performance, and whether or not you need to work harder to be a better trader.
  • Last but not the least, a live forex contest offers something that no other feature in forex trading can offer: a fun and enjoyable experience that makes forex trading in general a worthwhile activity.

Live forex contest is the game-changer that gives forex trading a flair of fun and excitement. So if you think forex trading gets a little bland and colorless, it’s time you try live forex contests. You’ll be glad you did.

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