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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Founded in 2017, Pocket Option is a binary options broker providing high/low contracts for forex, stocks, indices, commodities, and cryptocurrencies. Attracting more than 100,000 active users worldwide, the platform remains a favourite among emerging traders.
Instruments Regulator Platforms Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos MISA Web, MT4, MT5 Min. Deposit Min. Trade Leverage $50 $1 -
IQCent, an offshore brokerage in the Marshall Islands, specialises in binary options and CFDs. The firm provides distinct account options offering bonuses, benefits, payout increases, TradeBacks, and complimentary rollovers. With over 175 assets, 24/7 trading, and 98% payouts, it attracts budding traders.
Instruments Regulator Platforms Binary Options, CFDs, Forex, Indices, Commodities, Crypto IFMRRC Online Platform, TradingView Min. Deposit Min. Trade Leverage $250 $0.01 1:500 -
PrimeXBT is a multi-asset platform providing leveraged trading across forex, indices, commodities, and cryptocurrencies. Established in 2018, it now boasts over 1 million users from upwards of 150 countries. Offering copy trading, low commissions, and no minimum deposit, this broker is a favoured choice for those new to crypto trading.
Instruments Regulator Platforms CFDs, Cryptos, Forex, Indices, Commodities, Futures Own Min. Deposit Min. Trade Leverage $0 0.01 Lots 1:1000 -
Introduced in 2017, Videforex provides trading opportunities across stocks, indices, cryptocurrencies, forex, and commodities through binary options and CFDs. The platform, alongside its mobile app and copy trading features, is intuitive and caters to novice and occasional traders. Additionally, its market analysis tools and trading contests offer valuable avenues for honing trading skills.
Instruments Regulator Platforms Binary Options, CFDs, Forex, Indices, Commodities, Crypto TradingView Min. Deposit Min. Trade Leverage $250 $0.01 1:500 -
IronFX, established in 2010, is a highly regulated broker specialising in forex and CFDs. This acclaimed company provides access to over 500 markets for more than 1.5 million clients in 180 countries. Traders benefit from multiple account options with competitive rates via the MT4 platform, alongside 24/5 customer support available in 30 languages.
Instruments Regulator Platforms Forex, Indices, Shares, Futures, Commodities, Metals (all CFDs) CySEC, FCA, FSCA, BMA / Bermuda MT4, AutoChartist, TradingCentral Min. Deposit Min. Trade Leverage $100 0.01 Lots 1:30 (FCA), 1:30 (CySEC), 1:500 (FSCA), 1:1000 (BM) -
RaceOption, a binary options broker based in the Marshall Islands, serves over 1,500 clients. It provides swift funding, minimal fees, and a secure trading platform. Traders can explore over 100 binary options and CFDs, benefit from copy trading, and compete for weekly prizes.
Instruments Regulator Platforms Binary Options, CFDs TradingView Min. Deposit Min. Trade Leverage $250 $0.01 1:500 -
TMGM, an ASIC-regulated broker, offers a broad selection of tradeable assets, including forex, stocks, indices, cryptocurrencies, and commodities. Traders can choose between account options that feature either no commission or zero spreads, ensuring competitive pricing throughout.
Instruments Regulator Platforms CFDs, Stocks, Energies, Indices, Metals, Cryptos, Forex ASIC, FMA, VFSC MT4, MT5, TradingView, TradingCentral Min. Deposit Min. Trade Leverage $100 0.01 Lots 1:500
Pocket Option
IQCent
PrimeXBT
Videforex
IronFX
Raceoption
TMGMSafety Comparison
Compare how safe the Trading Tournaments are and what features they offer to protect traders.
| Broker | Trust Rating | FCA Regulated | Negative Balance Protection | Guaranteed Stop Loss | Segregated Accounts |
|---|---|---|---|---|---|
| Pocket Option | ✘ | ✘ | ✘ | ✘ | |
| IQCent | ✘ | ✘ | ✘ | ✘ | |
| PrimeXBT | ✘ | ✔ | ✘ | ✔ | |
| Videforex | ✘ | ✔ | ✔ | ✘ | |
| IronFX | ✔ | ✔ | ✘ | ✔ | |
| Raceoption | ✘ | ✘ | ✘ | ✔ | |
| TMGM | ✘ | ✔ | ✘ | ✔ |
Payments Comparison
Compare which popular payment methods the Trading Tournaments support and whether they have trading accounts denominated in British Pounds (GBP).
| Broker | GBP Account | Debit Card | Credit Card | Neteller | Skrill | Apple Pay |
|---|---|---|---|---|---|---|
| Pocket Option | ✘ | ✔ | ✔ | ✘ | ✘ | ✘ |
| IQCent | ✘ | ✔ | ✔ | ✘ | ✘ | ✘ |
| PrimeXBT | ✔ | ✔ | ✔ | ✘ | ✘ | ✘ |
| Videforex | ✔ | ✘ | ✔ | ✔ | ✔ | ✘ |
| IronFX | ✔ | ✔ | ✔ | ✔ | ✔ | ✘ |
| Raceoption | ✔ | ✔ | ✔ | ✔ | ✔ | ✘ |
| TMGM | ✔ | ✔ | ✔ | ✔ | ✔ | ✘ |
Mobile Trading Comparison
How good are the Trading Tournaments at mobile trading using apps or other mobile interfaces.
| Broker | Mobile Apps | iOS Rating | Android Rating | Smart Watch App |
|---|---|---|---|---|
| Pocket Option | iOS & Android | ✘ | ||
| IQCent | iOS & Android | ✘ | ||
| PrimeXBT | iOS & Android | ✘ | ||
| Videforex | Android | ✘ | ||
| IronFX | Android, iOS, WebTrader | ✘ | ||
| Raceoption | iOS & Android | ✘ | ||
| TMGM | iOS & Android | ✘ |
Beginners Comparison
Are the Trading Tournaments good for beginner traders, that might want an affordable setup to get started, along with good support and educational resources?
| Broker | Demo Account | Minimum Deposit | Minimum Trade | Support Rating | Education Rating |
|---|---|---|---|---|---|
| Pocket Option | ✔ | $50 | $1 | ||
| IQCent | ✔ | $250 | $0.01 | ||
| PrimeXBT | ✔ | $0 | 0.01 Lots | ||
| Videforex | ✔ | $250 | $0.01 | ||
| IronFX | ✔ | $100 | 0.01 Lots | ||
| Raceoption | ✔ | $250 | $0.01 | ||
| TMGM | ✔ | $100 | 0.01 Lots |
Advanced Trading Comparison
Do the Trading Tournaments offer features that allow for more advanced trading strategies?
| Broker | Automated Trading | Pro Account | Leverage | VPS | AI | Low Latency | Extended Hours |
|---|---|---|---|---|---|---|---|
| Pocket Option | ✔ | ✘ | - | ✘ | ✘ | ✘ | ✘ |
| IQCent | ✘ | ✘ | 1:500 | ✘ | ✘ | ✘ | ✘ |
| PrimeXBT | ✔ | ✘ | 1:1000 | ✘ | ✘ | ✔ | ✘ |
| Videforex | ✔ | ✘ | 1:500 | ✘ | ✘ | ✘ | ✘ |
| IronFX | Expert Advisors (EAs) on MetaTrader | ✘ | 1:30 (FCA), 1:30 (CySEC), 1:500 (FSCA), 1:1000 (BM) | ✔ | ✘ | ✘ | ✘ |
| Raceoption | - | ✘ | 1:500 | ✘ | ✘ | ✘ | ✘ |
| TMGM | ✔ | ✘ | 1:500 | ✔ | ✘ | ✘ | ✘ |
Detailed Rating Comparison
Use this heatmap to compare our detailed ratings for all of the Trading Tournaments.
| Broker | Trust | Platforms | Mobile | Assets | Fees | Accounts | Support | Research | Education |
|---|---|---|---|---|---|---|---|---|---|
| Pocket Option | |||||||||
| IQCent | |||||||||
| PrimeXBT | |||||||||
| Videforex | |||||||||
| IronFX | |||||||||
| Raceoption | |||||||||
| TMGM |
Our Take On Pocket Option
"Pocket Option stands out with its intuitive web platform, delivering an excellent user experience for short-term binary traders. A $50 minimum deposit makes it accessible for beginners, and account setup is straightforward. However, its market offerings and regulatory credentials lag behind competitors."
Pros
- The sign-up process is swift and seamless, completing in under two minutes.
- The variety of payment options surpasses most competitors, offering traders in numerous countries swift, secure, and convenient deposit processes.
- Pocket Option now offers an 'AI Trading' feature that evaluates signals, technical indicators, and trader insights to identify the best trade direction and expiration time. This provides a more automated trading experience.
Cons
- To gain access to over 250 assets, a deposit of $1000 is required. Without this deposit, traders will only have access to a selection of 130 assets.
- The 4-hour cap on binary contract durations limits long-term trading strategies. Options such as Videforex provide contracts with up to one-month terms, offering greater flexibility for traders.
- Pocket Option presents a streamlined version of MT4 and MT5, lacking the comprehensive charting tools that experienced traders seek.
Our Take On IQCent
"IQCent attracts traders seeking a simple binary options and CFD platform with minimal fees, multiple accounts, and copy trading. Begin in under a minute with a $250 deposit."
Pros
- IQCent has expanded its offerings by adding over 60 new assets. This includes popular cryptocurrencies like TON and SHIB, high-ranking stock CFDs such as TSLA and NVDA, and unique FX pairs like THB and HUF.
- Enthusiastic traders may participate in competitions that offer cash prizes.
- The proprietary terminal features TradingView charts, providing numerous technical indicators and analyses for traders.
Cons
- The broker operates without oversight from a reputable regulator, which is typical for binary options companies.
- Automated trading support is unavailable for algorithmic traders.
- IQCent imposes a £10 monthly inactivity fee if a trader does not execute at least one trade each month.
Our Take On PrimeXBT
"PrimeXBT suits aspiring traders interested in crypto derivatives and traditional markets such as forex and indices, all accessible via a user-friendly, web-based platform. The copy trading feature is perfect for passive traders, offering 5-star ratings and performance charts to identify suitable traders."
Pros
- PrimeXBT offers ultra-fast execution speeds, averaging 7.12ms, making it an ideal choice for traders seeking optimal pricing during market volatility.
- The online platform and app cater to traders, offering advanced charts, a customisable interface, and multiple order options like one-cancels-the-other (OCO).
- Round-the-clock customer support, accessible through live chat, demonstrated outstanding performance during testing. Additionally, the comprehensive help centre offers ideal self-assistance resources.
Cons
- PrimeXBT operates widely in the crypto sector but without approval from a recognised regulator, significantly increasing the risk for retail traders.
- The absence of integration with established platforms such as MT4 restricts traders accustomed to the globally popular forex software.
- Despite enhancements, the range of approximately 100 instruments lags significantly behind competitors, such as OKX, which offers over 400 assets.
Our Take On Videforex
"Videforex offers traders a straightforward, user-friendly platform to speculate on popular markets via binaries. The quick registration and web accessibility ensure an effortless start."
Pros
- Traders can achieve up to 98% returns on over 100 assets through the broker's binary options, aligning with competitors such as IQCent.
- Videforex frequently holds trading contests, providing both novice and seasoned traders with practice opportunities and cash prizes. Traders can participate with position sizes starting as low as 1 cent.
- Videforex has expanded its offerings, allowing traders to access popular cryptocurrencies like TON, ARB, PEPE, and SHIB, leading tech stocks such as Tesla, Meta, Nvidia, and Amazon, and a more varied FX portfolio including THB, ZAR, and MXN.
Cons
- Videforex is not licensed by a reputable regulator, leaving traders with minimal or no protection, such as segregated client accounts.
- Based on recent tests, the client terminal requires enhancements, as its widgets occasionally become slow and unresponsive, which could affect traders' experience.
- The lack of educational resources is a significant disadvantage for novice traders. In contrast, leading firms offer blogs, videos, and live trading sessions.
Our Take On IronFX
"IronFX is ideal for seasoned forex traders seeking fixed or floating spreads. Offering over 80 currency options, it surpasses many competitors and provides excellent forex market research tools."
Pros
- IronFX is a well-established firm regulated by respected authorities such as the CySEC, FCA, and FSCA.
- The IronFX Academy provides outstanding educational resources for traders of all levels, from beginners to advanced.
- The broker regularly hosts trading competitions with cash rewards and provides welcome bonuses for new clients.
Cons
- In comparison to top brokers, IronFX provides a limited range of share CFDs.
- It is unfortunate that the broker lacks advanced software options like MT5 or TradingView, restricting choice for seasoned traders.
- Commissions in zero-spread accounts begin at £13.50 per lot, almost twice the industry standard.
Our Take On Raceoption
"RaceOption attracts traders with its feature-packed binary options platform, offering frequent contests, account benefits, and copy trading. However, its unregulated nature presents minimal to no investor protections, according to our research."
Pros
- Returns on well-known assets such as EUR/USD can go up to 95%, outperforming many other options based on our analysis and boosting potential gains. Additionally, the initial three trades incur no risk in Silver and Gold accounts.
- RaceOption is among the select few brokers providing 24/7 multilingual video chat. However, our interactions suggest that their agents require better understanding of trading and regulatory matters.
- RaceOption simplifies account funding with no-fee, near-instant deposits through bank cards and cryptocurrencies. Withdrawals are processed within one hour, guaranteed.
Cons
- RaceOption operates as an unregulated broker, offering high-risk trading with no investor compensation or legal remedies if trading or withdrawal problems arise.
- RaceOption, lacking both a demo account and educational resources, is not ideal for novice traders.
- The $250 minimum deposit, though still attainable for numerous retail investors, presents a higher entry barrier compared to platforms like Deriv and World Forex, which cater more to budget-conscious traders.
Our Take On TMGM
"TMGM excels as a versatile option due to its extensive asset range, varied account types, multiple platforms, and competitive pricing."
Pros
- A variety of rewards and bonuses available through a points-based loyalty programme.
- Complimentary VPS for algorithmic trading.
- Caters to new and time-constrained traders by offering copy trading support through HUBx.
Cons
- A £30 monthly fee is charged on accounts inactive for six months or with balances under £500.
- Shares can be traded exclusively through the IRESS account. They are not accessible via MT4 or MT5 platforms.
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 PrimeXBT have prize pots of £20k+.
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?
Many of the best brokers with trading tournaments have zero joining fees, including PrimeXBT, IronFX, and IQCent. Tournament brokers that do charge a fee often require less than £10.
Note you usually need to register for a live account before you can trade in the contest environment.
Can I Win Real Money In Trading Tournaments?
Yes, many trading tournaments offer real money prizes which can be withdrawn or used for further trading. The IronFX Next Iron Trader competition, for example, had a global prize pot of $550k+ while PrimeXBT runs contests with a $100k+ prize pool.
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.