Forex Contests - Real or Fake?
Most of us have seen different forex brokers offering prizes through contests. These contests are usually for demo traders. In my opinion some unknown brokers take unfair advantage of it by arranging a contest and then including some fake names on top with insanely high profits.
Have u participated in any of the contests? If yes then did u ever feel that the contest is fake?
Reputable brokers arrange real contests but unknown brokers or companies rarely arrange any real contest.
The good or ill of a man lies within his own will. – Epictetus
There is no way to test if a contest is real or fake. Because they always provide a list of winners. Unless we have inside information, we cannot tell if traders on top are some random people around the globe or the broker itself.
Originally posted by ChampThere is no way to test if a contest is real or fake. Because they always provide a list of winners. Unless we have inside information, we cannot tell if traders on top are some random people around the globe or the broker itself.
Thats true.
But actually there is no harm in participating because those are demo account contests with real prize money. So even if u loose, u dun loose any real money.