Hi Omari,
Demo contests can pay out cash, like this Eightcap competition, but it’s always worth carefully reading the terms and conditions. I’ve seen it before when winnings can only be used as trading capital, ie you cannot withdraw it. Also, sometimes providers do not permit certain strategies.
On your question about the traders who join contests – this can range from beginners through to experienced traders. It will depend on the competition.
If you want to see other demo contests, we’ve collated a list of brokers with demo trading competitions.
