ForexBall Tournament is one of the FX competitions that may present an authentic interest for traders. If you want to improve your skills as a beginner in Forex or learn how to become a part of the traders’ championship community, ForexBall will become an appreciable opportunity. But what makes it so special? Let’s take a look at it briefly:
However this is just a small part of what it actually represents. Curious to learn more? Our review will make all things explicit.
Forexball review: Description
So what is ForexBall? Well, it is an international Forex championship, that is carried out on demo accounts and demo server respectively. This is a competition, which aim is to define the best traders in 5 global regions and also to recognize the highest performing traders of the FX contest in the world ranking. Our ForexBall Review found out that all traders perform on MetaTrader 4 practice accounts. This means that there is no risk involved, and you will never lose your own money. Besides, the participation is absolutely free of charge.
It is good that you generally compete with traders from your region. You are put in the equal conditions, e.g. if you are from United Kingdom, you will not compete with someone from China. In addition, it does not really matter what level of proficiency do you have. EIther you are novice or pro trader, the tournament will identify who can be called the best one.
This competition can bring you not only certain income, but also broaden your knowledge and increase your trading experience. Since the contest runs the whole year, you have quite a chance to track moments when you were successful and vice versa.
ForexBall Demo Contest: Prizes
ForexBall Demo Contest itself is performed on weekly basis. Every round has a prize pool of $8,750 that is distributed between the 3 best performing traders of each of the 5 divisions. As a consequence, best fifteen traders are awarded every week. Thereby, the top 3 players from each of the divisions (Europe, Russian and CIS, Ibero-America, Asia and the rest of the world will be awarded with the next prizes:
That’s it? Not yet. ForexBall honors not only traders participating once a week, but also awards best three FX traders that have demonstrated the best performance in 4 tournaments (monthly basis). Take into account that the region and geographical location do not really matter here. Therefore, monthly winners receive the following prizes:
Remember the fact that it is the competition that never stops! However, after participating 3 times, you will be asked to open a trading account with the sponsored brokers in order to keep participating. However, there is no reason to call ForexBall Scam.
ForexBall Tournament: How to withdraw the prizes?
You should note that the prize money you win is credited in a ForexBall training account. Indeed, this is not a pure generosity – there is some withdrawal restriction. As the matter of fact, you cannot withdraw the money from the ForexBall instantaneously. In an attempt to withdraw anything, you are obliged to complete a particular trading volume. Seems to be not so cool, huh? But still, withdrawal becomes available after the completion of 10 lots per $100 of the account’s initial balance.
Although we in our ForexBall Review admit that this can be perceived as the drawback at the first glance, but this necessary volume can turn out to be an extra opportunity to gain experience in the Foreign Exchange market without going through risky trading environment.
Forexball Pros & Cons
Although this competition looks nice and fun, there are some pitfalls as well. Let’s define them:
The bright side of the tournament
- Meta Trader 4
- Leverage up to 1:500
- No participation restrictions
- No Risk
The dark side of the tournament
- High amount of competitors
- Difficult to win
How to win ForexBall?
So how to win ForexBall? The first thing to take into consideration is that there admins that track your activity, i.e. assiduously check your account history, which IP addresses you have used for logging in etc. Therefore, cheating is not advisable at all. If you want to win without any trouble, use transparent Forex trading strategies.
To tell the truth, there is no universal winning formula at this tournament. Everything depends on your proficiency level and your trading skills. This tournament is just another opportunity to challenge yourself.
How to participate in ForexBall trading competition?
To start off, you do not have to make any deposit to participate in ForexBall Demo Contest. Additionally, there is no request to be a live client of any broker. It is important to outline that if you participate in this tournament beside gaining access to the demo-accounts contest on FX, you are provided with objective statistics. Consequently, you can analyze your performance by looking at your best and worst trades. ForexBall has educational content to grant you, which can be quite useful. Their experts have written nice educative articles and also some good trading strategies are explained there.
So, how to participate in this contest? Very simple. On the main page there is a Take The Challenge button. You just need to click on it. As the contest begins every week, you must ensure that you have the subscription for it.
As soon as you register in the tournament, you will then get a notification as well as your MetaTrader 4 credentials at your email.
Forexball Review Verdict
This competition can turn out to be a profitable opportunity in all meanings. Not only you get the possibility to participate here for free to compete for a desirable prize, but you also do a lot of practice here. This is vital if you want to reach success in currency trading. Is ForexBall Scam? Definitely not. The tournament is very good and it is a fun experience, although do not forget about the restriction for free participation and that you cannot instantly withdraw your prize.