A demo account is not only an opportunity to test a broker’s platform or strategy, but also a chance to earn real money without investing your own funds. For many novice traders, this is a chance to win with minimal time and effort.
What is a demo tournament from FinMax?
All demo account holders registered on the FinMax broker’s website get the opportunity to take part in the tournament and earn money without first replenishing the trading account.
If you have not yet registered on the broker’s website, you need to do the following:
- Visit the official website FinMax and fill out the registration form. In it, you need to specify your name, contact details and select the type of account (in this case, a demo). After completing the registration, the user is automatically verified. This is important because withdrawals require proof of identity (verification), and FinMax has made this procedure quick and convenient.
- Open a demo account and start trading. It is important that this type of account has a limited validity period (one calendar week), but during this time the trader can take part in the tournament and earn real money.
- Apply for participation in the tournament. After that, the user needs to start active trading, since the size of the cash prize will depend on its results.
To win a prize, the trader will still have to make some effort. The fact is that demo accounts are very popular among novice traders precisely because of the chance of making a real profit. Therefore, it is better to study in advance the available indicators, tools and strategies that will help optimize the trading process.
Tournament conditions
The main condition for participation in the competition is the availability of a demo account. Since it only takes a few seconds to register, even new users don’t have any problems at this stage.
Every trader who owns a demo account can join the tournament participants at any time. However, we recommend that you start competing as soon as it starts. Since the results are calculated by trading volume, it is better to increase your chances of success and start working immediately after the announcement of the start of the tournament.
Other features of the demo tournament from FinMax include:
- Competitions last only a week, after which the winners are determined;
- Leading positions are given to traders who have shown the maximum trading volume over the past week;
- The size of the cash prize is determined by the trader’s place in the standings. The user who took the first place receives 500 dollars, for the second position there is a cash prize of 300 US dollars, and for the third place, 150 US dollars are credited to the trader’s account. Cash prizes are also provided for users who took fourth and fifth places ($100 and $50, respectively).
User results are absolutely transparent and can be seen in a special standings. Since competitions and cash prizes are paid regularly, the data in the table is updated weekly.
In addition, after registering on the FinMax website, the user can contact the support managers. With them, you will be able to clarify more detailed information about the features of the tournament and its conditions.
Why is it profitable to take part in the tournament?
Regardless of the level of training of the trader, the demo tournament is one of the most profitable offers on the binary options market. There are several reasons for this:
- Firstly, the trader gets a unique chance to replenish his trading account with real money without an initial investment. Despite the stiff competition, the chances of making a profit are very high.
- Secondly, in the process of work, the trader gains important knowledge and experience in trading binary options. After the tournament is over, these skills can be used to trade profitably on a real account.
- Thirdly, holding a tournament does not mean that a trader cannot use training materials or test new strategies. Access to training video lessons, analytical and informational articles remains the same, so the user can clarify the information of interest at any time.
According to traders who have already managed to successfully make money in tournaments, you should prepare for the competition in advance. In particular, this applies to the study of strategies. Unfortunately, training webinars from FinMax are provided only to registered users, but even without opening an account, you will be able to view training articles and videos directly on the site.
Why choose FinMax tournaments?
FinMax is one of the leaders in the binary options market. Despite the fact that the company regularly occupies a leading position among reliable brokers, some users have doubts about participating in demo tournaments from FinMax.
Let’s try to figure out why you should choose tournaments of this particular broker. Firstly, competitions are held on an ongoing basis, so you can register at any time and become a participant in the tournament. Secondly, support managers are ready to provide detailed information about the tournament and help with account registration at any time. And thirdly, the company is very loyal to new users, so if you did not get the desired profit from the tournament, but want to practice a little more on a demo account, planning to work with FinMax further, you can extend the period of access to a free account.
The reliability of the broker and the real chances of winning are confirmed by the names of real traders who have already made a profit from the tournament. Absolutely any registered user who has visited the FinMax website can see this information.
