MultiBank has announced a new demo contest that will be coming to its FX customers starting January 5th, 2020. The registration process has already started and will be closing on January 4th, sharply at midnight.
The contest itself is pretty easy to comprehend, it’s a typical trading competition for cash, but what makes it stand out is the amount of cash involved.
Eligibility: Everyone Prizes: 2,000 – 10,000 USD
Duration: 1 Month Leverage: 1:500
EA Trading: N/A Prize Limitation: 1,000 lots
Start your 2020 right! Try the MultiBank Fast & Furious demo contest!
According to the broker’s website, there will be 3 winners. The prize pool is $15,000 and it will be distributed thusly:
- 1st place – $10,000
- 2nd place – $3,000
- 3rd place – $2,000
Considering the average prize pool of similar contests($5000), MultiBank did indeed create something quite attractive for its customers.
Who can take part in the contest?
The MultiBank contest, also known as the Forex demo contest January 2020, will cater to almost every nationality. Counties from Europe, Asia, Latin America, and Africa will be accepted. The only exception is the United States as always.
However, just being from these regions will not be enough to grab a spot in the competition. There are some rules that you will have to follow.
Rules of participation
- Every trader will be requested to disclose personal information (Name, phone number, email)
- Confirm their username and ID post-registration
- Download the MultiBank Pro MT4 platform
- Confirm participation once a member of customer support gives them a call
- Wait until the contest starts on January 5th.
Once you have registered and downloaded the MT4 platform, you’ll notice that the account will be blocked. Don’t worry about this as it’s a precaution from the broker to avoid any cheating from participants. Everybody will have their account activated on January 5th altogether.
What can you trade?
Participants will be allowed to trade pretty much anything during the competition. This includes FX, metals, commodities, and CFDs on shares. The only exception is the crypto CFDs.
I won! What now?
If you manage to win the contest, there will be several things required from you. First the re-confirmation of your identity, which you will have to do over the phone once the contest is finished.
Furthermore, the MultiBank demo contest will require you to submit a photo and a 2minute video of you speaking about the experience you had participating in the championship.
Once all of this has been submitted 3 days after the customer support contacts you about your victory, the prize will be wired to your bank account which you can then withdraw whenever you want.
Note that the wire transfer could take a week to be delivered to your account.