The Forex broker FXOpen is organizing a new trading competition for demo accounts called “CryptoMania”, in which any trader who wants to test their skills to trade with cryptocurrencies and wins interesting prizes can participate. All customers of this broker, both new and existing, can participate. In addition to gaining experience in the markets, the winning participants can obtain prizes of up to USD3,000. No participation fee is required.
-Period of the competition: This trading tournament will be held from March 9 to April 3, 2020. The registration period ends on March 22, 2020.
You can get more information about the FXOpen company and its brokerage services in the following guide about this broker: Review of the broker FXOpen
General conditions of Cryptomania trading contest
- It is a tournament for demo accounts (there is no risk for the trader) in which all FXOpen customers, both new and existing, can participate.
- Initial demo account fund: $ 5000
- There is no participation fee in the tournament.
- The trading conditions of the contest are:
- Trading instruments: 32 currency pairs with cryptocurrencies BTC, ETH, XRP, BCH, ETC, LTC, etc.
- Maximum leverage: 1:10
- Use of Expert Advisors: Allowed
- Trading volume: from 0.1 to 1.00 (maximum 1 lot per order
- Transaction fees: 0.25 for opening and closing positions, that is 0.5 for full operation.
- Maximum number of open operations: 5
- Trading platform for the competition: Metatrader 4.
- The total prize fund for winners: USD3,000.
- Number of contest winners: 10
- In order to obtain one of the prizes, the participant must increase the initial capital of the account by at least 10%.
- Account contest type: ECN demo of participation.
- Minimum number of trades during the contest period: 10 trades.
- Minimum trading volume in lots: 10 lots.
Competition prizes
This contest offers cash prizes to the top 10 traders. The winners will be the traders who get the best performance during the tournament period.
- First place: USD 1050 (525 + 525);
- Second place: 750 USD (375 + 375);
- Third place: 300 USD (150 + 150);
- Fourth place: USD 240 (120 + 120);
- Fifth place: 180 USD (90 + 90);
- Sixth place: 150 USD (75 + 75);
- Seventh place: 120 USD (60 + 60);
- Eighth place: USD 90 (45 + 45);
- Ninth place: 60 USD (30 + 30);
- Tenth place: 60 USD (30 + 30);
The prizes amount will be deposited in the winner’s account in any cryptocurrency available in FXOpen, using the current exchange rate at the time of prize payment. The winner can also request payment in USD.
However, it must be taken into account that 50% of the total prize cannot be withdrawn. In addition, it will only be deposited in a Crypto account. In order to withdraw the prize, the trader must open a Crypto account and send the account number to FXOpen. You can withdraw the profits obtained with the trades carried out with the prize money, using any payment system offered by the broker.
How can we participate in the contest?
The procedure to participate in this trading competition, for both new and existing customers, is as follows:
-New FXOpen customers: The trader has to open a new account in the broker FXOpen or in ForexCup, completing the fields that say “First name” and “Last name”.
-Existing FXOpen customers: The customer has to check if he has completed the fields “First Name” and “Last Name” in the Settings – Profile section and register in the tournament with his account details.
You can obtain more information about the Cryptomania trading tournament and register at no cost (remember that it is a contest for demo accounts) through the following link:
