Trading Tournaments
Trading tournaments are hosted by online brokers and provide a forum where clients can sharpen their skills and win prizes. Trading contests may focus on a particular market, such as forex, and often require participants to achieve the largest profits over a set period. This article lists the brokers with the biggest trading tournaments available to UK investors. Our team also unpack typical prizes, from bonus credits and trade-loss vouchers to free merchandise.
UK Brokers With Trading Tournaments
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XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.
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Established in 2017, Pocket Option is a binary options broker offering high/low contracts on forex, stocks, indices, commodities and cryptocurrencies. With over 100,000 active users and a global reach, the platform continues to prove popular with budding traders.
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IQCent is an offshore binary options and CFD broker based in the Marshall Islands. The brand continues to offer a range of unique account types with bonuses and perks, including payout boosts, TradeBacks and free rollovers. With 100+ assets, around-the-clock trading and 98% payouts, the firm is popular with aspiring short-term traders.
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PrimeXBT is a multi-asset platform offering highly leveraged trading in forex, indices, commodities and cryptocurrencies. The company launched in 2018 and now has over 1 million users from more than 150 countries. With no minimum deposit, copy trading features and low commissions, the broker remains a popular option among crypto trading novices.
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Established in 2013, SuperForex is an offshore CFD and forex broker offering highly leveraged trades on 400+ instruments via the popular MetaTrader 4 platform. The broker has gained clients in over 150 countries and is regulated by the Belize IFSC. With a range of STP/ECN account types, including swap-free, micro and zero spread, this broker continues to suit traders with different styles and setups. SuperForex also offers a range of welcome bonuses and trading contests.
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IronFX is a multi-regulated forex and CFD broker founded in 2010. This award-winning firm offers 500+ markets to over 1.5 million clients across 180 countries. Traders can access various account types with competitive pricing on the MT4 platform, as well as 24/5 customer support in 30 languages.
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Launched in 2017, Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. The proprietary platform, mobile app and integrated copy trading are user-friendly and will suit new and casual traders, and the market analysis tools and trading contests provide good ways to improve your trading skills.
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Kwakol Markets is a Nigerian headquartered broker with strong regulatory oversight in Australia and Canada. A great selection of trading assets are available, including synthetic products that simulate realistic market activity. Clients can trade on the MT4, MT5 and cTrader platforms, as well as a copy trading solution whereby a fee is only paid on profitable trades.
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FXOpen is a multi-asset broker with regulation from several trustworthy bodies including the UK's FCA. The broker offers CFD trading on forex, stocks, commodities, indices, cryptocurrencies and ETFs via the MetaTrader 4 & 5 and TradingView platforms.
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Kucoin is a crypto exchange that offers trading on 1000+ tokens as well as leveraged trading opportunities via futures and perpetual swaps. This exchange has a slick trading platform that supports robots, allowing traders to implement automated strategies. Other attractive features include a demo account, flexible funding methods and DeFi features like staking and mining.
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TMGM is an ASIC-regulated forex and CFD broker with a vast range of tradeable assets covering forex, stock, index, crypto and commodity markets. The account types on offer provide a flexible choice between no commission or zero spreads, with competitive pricing all-round.
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OspreyFX is an ECN broker headquartered in St. Vincent and the Grenadines. Established in 2019, the firm offers 120+ forex and CFD assets with high leverage up to 1:500, tight spreads from 0.1 pips and round-the-clock customer support. OspreyFX also stands out for its funded trading accounts where traders can keep up to 70% of profits.
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BinaryCent is an unregulated binary options broker that offers 24/7 trading on forex, cryptos and stocks with payouts up to 95%. Despite its lack of regulation, this broker takes client security seriously and stores client funds in European banks. The broker also offers CFDs with very high leverage up to 1:500.
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World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
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RaceOption is a binary options broker operating from the Marshall Islands. With over 1,500 clients, the broker aims to offer fast funding, low fees and a secure trading environment. Traders can access over 100 binary options and CFDs, plus copy trading and weekly prizes.
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FXCentrum is an offshore broker that offers highly leveraged, commission-free trading on diverse instruments with tight spreads. Traders can access forex, equity and commodities markets via MetaTrader 5 or the proprietary FXC platform and use the award-winning ZuluTrade platform for copy trading.
What Are Trading Tournaments?
Trading tournaments are contests hosted by brokerages to challenge users and encourage trading activity on their platforms.
Entry requirements vary with traders typically paying a small fee to take part, though some tournaments are free to join. Clients are often given a contest account either with a virtual bankroll or using their own funds. Traders then compete with participants to achieve the highest profit or execute the greatest volume of forex trades, for example.
Timeframes differ between providers but contests typically run for several days up to a few months. IronFX, for example, operates trading tournaments that run for three months with a variety of prizes, including cash bonuses, Apple iPhones and smartwatches. Alternatively, IQCent runs weekly tournaments with 20 winners taking home cash rewards each week.
The best brokers with trading tournaments host live leaderboards during the contest period that rank the top-performing traders. These are often updated daily and provide useful insights such as the strategies and associated profits of competitors.
Winners are normally contacted by email at the end of the tournament. Bonus credits and prizes are generally distributed within a couple of weeks.
Entry Requirements
Most brokers with trading tournaments have certain entry requirements. These typically include:
- Account: To participate in online trading tournaments, you often need to register a live account with the hosting broker. This is the case at PrimeXBT, for example.
- Minimum deposit: Some tournaments require a minimum deposit to be eligible for participation – this varies between contests and brokers but often ranges from £0 to £200.
- Participation fee: Some trading tournaments have a participation fee, while others are free to enter. IQCent automatically enrols all clients but requires a minimum trade of £1 to contribute towards trading volumes.
- Platform access: You will need to download the broker’s trading platform or app. Alternatively, tournament brokers like Pocket Option have a web-accessible terminal.
PrimeXBT Trading Contests
UK Regulations On Trading Tournaments
The Financial Conduct Authority (FCA) authorises trading brokers that market their services to residents of the UK. The regulator takes a dim view of financial incentives generally, requiring firms to operate in a fair and transparent manner and not to encourage customers to engage in over-trading or excessive risk-taking. As a result, most FCA-regulated brokers do not run trading tournaments.
UK traders can still sign up with brokers based abroad, but they may not operate with the same level of scrutiny. As a result, British traders should only sign up to trusted brokers with trading tournaments. This will help investors avoid scams.
Benefits Of Trading Tournaments
- Typically free to enter, with the chance to win cash prizes
- An opportunity to practice trading skills in forex, stocks, commodities and cryptos
- A competitive environment that motivates traders to improve their strategies and setups
- Learn from and interact with other traders through social networking capabilities
Drawbacks Of Trading Tournaments
- May not accurately reflect real market conditions if hosted in a simulated trading environment
- Typically groups all participants regardless of experience, making it harder for beginners to win the biggest prizes
How To Find Online Trading Competitions
To check if a broker offers trading tournaments, visit their website and look for a section related to promotions or contests. Many brokers also advertise their tournaments through social media channels or emails.
You can also contact the broker’s customer support team to inquire about upcoming contests or promotions. Alternatively, use our list of the best brokers with trading tournaments.
Tip: Look at the broker’s tournament schedule to see how frequently they host contests. Also consider the asset classes available, such as forex and crypto, plus the prizes. Leading contest brokers like StormGain have prize pots of £100k+.
Bottom Line On Trading Tournaments
Trading tournaments are a popular way for UK traders to compete for big prizes in the forex, stock and crypto markets. To participate, traders will usually need to register with a hosting broker and meet eligibility criteria, such as verifying their identity and paying a sign-up fee.
Get started with our table of top brokers with online trading tournaments.
FAQ
Are Trading Tournaments Free?
Can I Win Real Money In Trading Tournaments?
How Can I Improve My Chances Of Winning A Trading Tournament?
To improve your chances of winning a trading tournament, carefully read the rules, develop a solid trading strategy, manage your risk, and remain disciplined throughout the contest. It could also be worth testing your strategy in a demo account first.
Are Trading Tournaments Suitable For Beginners?
Trading tournaments can be a good place for beginners to improve their trading skills while learning from other investors. However, tournaments are also competitive and may encourage excessive risk-taking. As a result, make sure you take a sensible approach to money management.
Which Is The Best UK Broker With Trading Tournaments?
The best brokers with trading tournaments will vary depending on what you want to trade, for example forex or stocks, plus the prizes you want to receive, such as cash credit, trade-loss vouchers or gadgets. Also consider the frequency of contests, the length of tournaments and the winning criteria, for instance, generating the most profit vs the largest trading volumes.