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The world of forex trading is full of exciting opportunities to earn profits and win prizes. There are several types of bonuses being offered by the brokers from time to time and then there are the trading contests which serve as excellent marketing tools. Normally, getting involved in contests is a chance to win not only real money but different prizes as well which could be a trip to some romantic island or some other non-monetary prize. The two main types of trading contests are demo and real contests. Each and every trader can take part in a demo contest. From the broker's point of view, demo contest works as a marketing tool and for a smart trader it works as an excellent opportunity to make money. Risk involved is least as no deposits are generally needed to take part in such contests. Demo contests serve as an enjoyable learning experience as well as one can communicate and interact with other traders. The prizes are earned not by the winner alone but by the several first places. This is something that makes the contest more attractive. To add to this, some traders use very big positions which is a risky approach but the benefit is that the winners earn handsome profits. So where there is risk involved, the profits are huge and when one tries to play safe, winning could seem far off. Hence, traders who can put in a lot of risk have greater chances of winning these contests. Most often, the winner gets money but sometimes, the prize could be an electronic item or a trip to some beautiful place or even some crazy unexpected benefit. Apart from the prizes, the invaluable experience one personally gets is more rewarding than everything else. Real contests, on the other hand, are a little different from demo contests. To participate in real contests, one needs to open another separate account with the same broker. These contests benefit the broker as well as the trader. Similar to demo contests, here also the prizes are won by several first places along with the actual winner. These contests also help traders communicate among themselves and make it a great learning experience. The prizes won in real contests more often is again money but other valuables can also serve as a prize sometimes. However, the traders in real contests do not try new strategies the way they do in demo contests. They prefer working with existing and trusted strategies alone as there is very high risk involved. These contests are generally recommended to forex traders who are in the business for long term benefits and can afford to take a high level of risk on profits and losses as the trader has to risk his own deposit in real contests. Not to forget mentioning that only real account traders participate in real contests.
Forex trading contests are fun on one hand and risky on the other hand, too. Nonetheless, the thrill never fades and the contests keep attracting investors day in and day out to win more and more and more.
Chetan Bhawani is a forex business adviser. Learn more about forex demo contest, and tips on what and how to get forex trading bonus for your business.
Article Source: http://EzineArticles.com/?expert=Chetan_Bhawani
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