Test Your Trading Skills and Win in Our Free-to-Enter Contest
DXcontest, our trading contest, is a chance for you to test your skills against other traders and win amazing prizes including leading Apple products like a MacBook and iPhone 14, Amazon vouchers, and broker bundles worth more than $75,000.
The online contest takes place from September 25 – October 25.
Enter a market where you learn as you play at no risk to your finances
The number of investors in stocks and shares has risen sharply. Many more of us looking for higher returns and a way to boost our savings are curious about investing in stocks and shares but have yet to try it.
For newer investors, exploring the risks, navigating the jargon, and – most importantly – understanding which type of investment is right for them is a huge challenge.
And the range of assets to choose from has grown. For a long while, the choice was limited between equities (stocks), fixed income (bonds), and cash equivalent or money market instruments. Now you can also pepper your portfolio with investments in commodities, real estate, futures, other financial derivatives, and cryptocurrencies.
Learn and test your trading skills without losing money
Many brokers offer their customers the chance to practice trading on demo platforms. They can be really useful. They can also be dull and fail to reflect the competitive nature of trading on active markets against other new and experienced traders.
DXcontest, our risk-free trading competition, bridges this gap between using demo sites in isolation and testing your skills against other traders in a live environment. And the bonus is that by playing the game you’re in for a chance of winning a terrific prize.
What’s the best strategy for winning?
The game runs from 25 September to 25 October so, it’s clear that it’s about making short-term results, rather than realizing long-term goals.
In the real world, many brokers will advise you to stick to long-term goals through a diversified portfolio, rather than putting all your money into one asset, or regularly switching and ditching assets.
You should always do your own research, of course. For example, blindly following an asset tipped on social media or buying into a stock undergoing a short squeeze is a high-risk strategy.
Adopting the right trading strategy and knowing when to change or stick to it is vital if you’re going to have the best chance of minimizing losses and maximizing gains.
But because this contest runs for just a few weeks and you’re not playing with real money, for once in your trading career, chasing the market might pay off. Growth stocks could appeal, so too very high-risk cryptocurrencies and shares in emerging markets.
There is no better way to learn about investments than by making mistakes
The competition gives you the opportunity to test yourself with unfamiliar asset classes. If you’ve never invested in gold, for example, and think the commodity’s price is going to rise, you can adapt your strategy to reflect this new approach.
However, every asset carries an element of risk. The price of even blue-chip stocks can move quickly. With things like short-squeezes, geo-political turmoil, high inflation, and IPOs, any asset’s price can move fast – both up and down.
In the real world, you’d be wise to invest only a small amount of money – money you can easily afford to lose – in riskier and newer investments. But here, because your portfolio is funded by virtual money, you can try new things and make mistakes.
So if you want to put all your money in one basket, and not diversify your portfolio – something you would be advised not to do in the real world – in this game, you can.
How to play?
Anyone can register to play the trader contest for free via the Devexperts app or website.
Once you’ve signed up, you decide how to invest a virtual budget of $100,000. You can pick a portfolio of stocks, indexes, forex, cryptos, gold, and silver. And there’s no limit to the number of assets you can select from any one type. So if, for example, you want to pick only equities or crypto, you can.
And you don’t need to worry about being locked into poor-performing investments because you can change any asset in your portfolio as often as you like.
How do you win?
The winner is the trader who makes the most profit over the game’s duration. The state of play is entirely transparent, because a league table tracks your performance, showing you how you’re getting on against the other competitors.
Winners are announced after the competition closes on 25 October at 23:59.
To find out more about DXtrade and our work with brokers, please visit dx.trade.
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