Demo Account Contest hosted by Gerchik & Co offers a chance to not only give your trading strategy a whirl for free but also start a career as a professional manager. What’s more, the winners get their hands on the prize of $1,000. Would you like to learn more about the contest? We have prepared TOP 7 questions and answers about this competition.
1. How to enter the Demo Account Contest?
2. What are the terms and conditions of trading with the contest account?
3. What is the Contest duration?
4. What is the winner determination procedure?
5. What trading strategies can be used?
6. What are the prizes in the Contest?
7. How to get the prize money?
Everyone willing to participate regardless of their trading experience can sign up and become a contestant in the “Manager’s Career Start” Demo Account Trading Contest.
As soon as a manager approves your application, a special demo account for the Contest will be opened for you, providing access to the MetaTrader 4 trading platform.
Each contestant gets a demo account with a virtual balance amounting to $10,000 and 1:100 leverage. You will need to open at least 10 trades with a volume from 0.01 of the standard lot during the contest period.
Any instruments available in the trading platform can be traded. Gerchik & Co offers over 370 instruments which include currency pairs, pairs with cryptocurrencies, stock indices, and CFDs on stocks, commodities, and metals. The use of indicators and trading robots is also allowed.
The contestant’s task is to demonstrate the best profit growth against the deposit with minimum losses. The key rule is, the equity drawdown must not exceed 20%, or else the contestant drops out of the competition.
Tip: Would you like to protect yourself against major drawdowns? Connect Risk Manager to your contest account. This is a unique software solution designed for automated risk management which all Gerchik & Co customers can use free of charge. You can calculate and adjust Risk Manager parameters (risk per trade, the number of losing trades per day/week, etc.) as you deem fit:
Demo Account Contest will continue for 3 months, starting on September 15, 2020, and ending on December 11, 2020.
The last date for application submission is September 14, 2020. So, make sure to get registered now in order not to forget about it and miss it! After getting registered, the contestants receive checklists, educational videos, and other useful goodies by email.
There will be 55 winners in the Trading Contest. This means that your chances of winning increase by 55 times! Those contestants who make it to the TOP 55 in the final rating will become the winners. The rating is formed based on two parameters:
The rating will be continuously updated throughout the Contest. You can track it down in the personal account on the company’s website.
Any strategy can be used in the Demo Account Contest. However, a solid strategy is not everything you need to win. It is important to have a trading plan in place for any market scenario.
Only real cash prizes are at stake in the Contest. This is the situation when Gerchik not only approves the demo account trading but encourages everyone to try it out!
The prize fund is $55,000. Each of the 55 winners will get $1,000 for management.
To claim the prize, the winners have 30 days from the summing-up date. To do so, they need to complete the verification procedure and open an investment TIMA account where $1,000 will be credited to.