Trading Tournaments
Trading tournaments are an increasingly popular way for traders to test themselves and win prizes. In these tournaments, entrants compete using demo accounts to see who can make the most profit, usually for free funds deposited into a live trading account.
Many brokers promote their platforms with elaborate and expensive tournaments: some of the biggest trading tournament prizes are worth over one million USD. In this article, we will explore how trading tournaments work, their advantages and some of the key factors to look out for.
Top Brokers With Trading Tournaments
We have tested hundreds of brokers and these 6 offer the best trading tournaments:
This is why we think these brokers are the best in this category in 2026:
- XM - When we took a closer look at the XM competitions, one thing jumped out: the formats cater to every level, including paid-entry challenges featuring reactive re-entry. The prize pools often exceed $100,000 and all winners appear in a live leaderboard, making the race transparent and engaging.
- Ultima Markets - When we reviewed Ultima Markets’ trading contests, the format stood out in our testing so you could compete risk-free. You receive virtual funds (~$10K), then battle it out for top ROIs, with winners across tiers (Rookie → Star). Leaderboard updates daily and prizes scale from hundreds to thousands. Clear rules and tier movement make the race transparent and competitive.
- PrimeXBT - When we tried the PrimeXBT tournaments, the format stood out - participants trade with virtual funds and compete for real USDT prizes. Weekly contests often feature prize pools up to around 1,000 USDT and require minimum trade count and volume. Transparency is solid: leaderboards update live, and rules are clearly listed under “General Trading Contests T&Cs”.
- JustMarkets - On testing JustMarkets’ tournaments, we found the entry rules transparent: your account must be funded (usually minimum $100) and registered in the contest. Prizes vary from tech gadgets like MacBooks and Apple Watches to cash rewards for the top 10 performers, depending on gain-points. The leaderboard updates daily and the conditions around lot volumes and “profitable days” are clearly laid out.
- IronFX - IronFX’s trading tournaments brought serious scale when we tested them. Past events offered prize pools over $1 million, making them some of the most competitive we’ve seen. Entry required a funded contest account, and rankings were calculated transparently on profit percentage — no gimmicks, just pure trading performance from start to finish.
- TMGM - In our hands-on review of TMGM’s trading competitions, the entry conditions stood out for their clarity - deposits from ~$500 and minimum trades together make eligibility unmistakable. Prize pools exceed $500,000 in one previous round, with weekly awards and multiple performance tiers. Leaderboards update regularly and rules forbid algorithmic hedging, giving the contests genuine fairness and competitiveness.
XM
"With a low $5 minimum deposit, advanced charting platforms in MT4 and MT5, expanding range of markets, and a Zero account offering spreads from 0.0, XM provides all the essentials for active traders, even earning our ‘Best MT4/MT5 Broker’ award in recent years."
Christian Harris, Reviewer
XM Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Commodities, Indices, Thematic Indices, Precious Metals, Energies |
| Regulator | CySEC, DFSA, SCA, FSCA, FSA, FSC Belize, FSC Mauritius |
| Platforms | MT4, MT5, TradingCentral |
| Minimum Deposit | $5 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:1000 |
| Account Currencies | USD, EUR, GBP, JPY |
Pros
- XM stands out for its commitment to trader education, with a wealth of well-presented resources, including webinars, tutorials, and even real-time trading sessions through XM Live.
- XM secured a category 5 license from the Securities and Commodities Authority (SCA) of the United Arab Emirates in late 2025, strengthening its regulatory credentials and making it a strong option for traders in the Middle East.
- XM’s customer support has delivered over years of testing, with 24/5 assistance in 25 languages, response times of under 2 minutes and a growing Telegram channel.
Cons
- Although trusted and generally well-regulated, the XM global entity is registered with weak regulators like FSC Belize and UK clients are no longer accepted, reducing its market reach.
- While the XM app stands out for its usability and exclusive copy trading products, the selection of technical analysis tools needs to be improved to meet the needs of advanced traders.
- XM is falling behind the curve by not offering cTrader and TradingView which are increasingly being favored over MetaTrader for their smoother user experience and superior charting packages.
Ultima Markets
"Ultima Markets is best for beginners looking to speculate on popular financial markets on the reliable MetaTrader 4 platform. The minimum deposit is accessible at $50 and there are no fees when you open and fund your account. Ultima Markets will also serve traders with a large risk appetite looking for high leverage up to 1:2000."
Ultima Markets Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities |
| Regulator | FCA, CySEC, FSC, SVGFSA |
| Platforms | UM Social, UM App, MT4 |
| Minimum Deposit | $50 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (EU), 1:2000 (ROW) |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, HKD, SGD |
Pros
- Very high leverage up to 1:2000
- $50 minimum deposit with the Standard account
- Easy-to-use copy trading app available on Apple and Android
Cons
- Narrow range of trading instruments with no cryptos
- Weak regulatory oversight through the offshore branch
- Education trails the top brokers
PrimeXBT
"PrimeXBT is perfect for aspiring traders looking for crypto derivatives alongside traditional markets like forex and indices, all tradable on an intuitive, web-based platform. The copy trading solution is also ideal for hands-off traders with 5-star ratings and performance graphs to help you find the right trader."
PrimeXBT Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Cryptos, Forex, Indices, Commodities, Futures |
| Platforms | Own |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:1000 |
| Account Currencies | USD, EUR, GBP |
Pros
- PrimeXBT seriously bolstered its suite of Crypto Futures in 2025 with over 100 tokens spanning AI, NFTs, Metaverse, Layer 1 &2, and more.
- 24/7 customer support, available via live chat, proved excellent during testing, while the extensive help centre is perfect for self-help.
- The web platform and app were built for technical traders with advanced charting features, a customizable layout and multiple order types including one-cancels-the-other (OCO).
Cons
- While common in the crypto industry, PrimeXBT lacks authorization from a trusted regulator, seriously elevating the risk for retail traders.
- Despite improvements, the selection of around 100+ instruments still seriously trails competitors, notably OKX with its 400+ assets.
- The lack of integration with established platforms like MT4 will be limiting for traders familiar with the world’s most popular forex trading software.
JustMarkets
"With some of the most affordable pricing in the game and access to the powerful MT4 and MT5 platforms, JustMarkets is a good choice for any investor."
Tobias Robinson, Reviewer
JustMarkets Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures |
| Regulator | CySEC, FSA |
| Platforms | MT4, MT5 |
| Minimum Deposit | $1 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:3000 |
| Account Currencies | USD, EUR, GBP, ZAR, MYR, IDR, AED, NGN, THB, VND, KWD, CNY |
Pros
- Trustworthy and regulated by CySEC
- Fast order executions from 0.01 seconds
- MetaTrader 4 integration
Cons
- Limited availability with clients not accepted from the US, UK, Japan, Germany and other countries
- Non-forex asset list is light with just 65 stocks plus a handful of indices and commodities
IronFX
"IronFX remains a good choice for experienced forex traders looking to trade with fixed or floating spreads. The range of 80+ currencies is more than many competitors and there are some excellent forex market research tools on offer."
IronFX Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Forex, Indices, Shares, Futures, Commodities, Metals (all CFDs) |
| Regulator | CySEC, FCA, FSCA, BMA / Bermuda |
| Platforms | MT4, AutoChartist, TradingCentral |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (FCA), 1:30 (CySEC), 1:500 (FSCA), 1:1000 (BM) |
| Account Currencies | USD, EUR, GBP, AUD, JPY, PLN, CZK |
Pros
- IronFX is an established firm and is regulated by several reputable bodies, including the CySEC, FCA and FSCA
- The IronFX Academy delivers some excellent educational tools for beginners through to advanced traders
- Alongside MT4, the broker continues to offer several additional services, including copy trading, a VPS solution, and PAMM/MAM accounts
Cons
- Compared to the leading brokers, IronFX offers a relatively small selection of share CFDs
- It’s a shame that the broker doesn’t offer any additional software such as MT5 or TradingView to give experienced traders more choice
- Commissions start from $13.50 per lot in the zero-spread accounts, nearly double the industry average
TMGM
"TMGM is a great all-round choice thanks to its huge range of assets, diverse account types and platform choices, plus competitive pricing."
TMGM Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Stocks, Energies, Indices, Metals, Cryptos, Forex |
| Regulator | ASIC, FMA, VFSC |
| Platforms | MT4, MT5, TradingView, TradingCentral |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:500 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD |
Pros
- Excellent platform support with MetaTrader 4, MetaTrader 5 and IRESS
- Low trading fees with spreads from 1 pip on the classic account and from zero with $7 round-turn commissions on the raw spread account
- Accommodates new and time-poor traders with copy trading support from HUBx
Cons
- $30 fee levied monthly on accounts which are inactive for 6 months or have a balance below $500
- Shares are only available on the IRESS account, and not tradeable via MT4 and MT5
How Trading Tournaments Work
A trading tournament is a competition held amongst traders to see who can make the most money through demo trading. Online platforms and brokers organise tournaments both to attract new customers and retain old ones. Typically, competitors are given an equal amount of virtual credit to invest how they see fit (for instance $10,000), with the most profitable trader after a set period being declared the winner.
Tournament lengths can range from one day up to one month. Some platforms, like FXOpen or the World Cup Trading Championships, offer a cash prize to the most profitable trader in a calendar year. It is up to the tournament organiser to decide which assets can be traded, with binary options being one of the most common. Forex and crypto trading tournaments, are quite popular.
Some trading tournament platforms operate a ‘league’ system, whereby traders compete against others with similar experience levels and abilities. These types of tournaments are well suited to novice traders and those looking to hone their abilities as they are more accessible. On the other hand, some competitions allow players to compete as part of a team, offering entrants another way to develop their trading skills.
Trading tournaments are often free to enter, though some may require a fee. Some tournaments are known as ‘real cash competitions’, where contestants trade with their own money. There are also free competitions, which involve paper trading accounts to keep a level playing field, though these generally have smaller prize pools. Both free and paid tournaments often have a ‘rebuy’ option, which allows traders to reload their account balance by depositing the original amount again.
Pros Of Trading Tournaments
Chance To Win Prizes
Trading tournament winners are rewarded with a share of the prize pool. Other highly-placed entrants usually also receive some of the winnings (for example, the 10 most successful entrants). Paid tournaments, which may only cost a few dollars to enter, can have very large prize pools. Often, these contain more than just cash as trading platforms compete for attention. For instance, early in 2021 FBS set the record for the biggest trading tournament prize with a prize pool worth $1.2 million, featuring a Mercedes-Benz, 1kg bar of gold and $300,000 in cash. The size of the potential winnings is generally linked to the initial stake and the number of entrants. Free trading tournaments may reward winners with non-withdrawable trading capital, though some have (smaller) cash prizes.
Many sites run daily trading tournaments with smaller prize pools in addition to high-stakes competitions. For example, the popular binary options site IQ Option runs daily trading competitions with prizes as large as $1,000, as well as big competitions with prizes of up to $100,000.
As a precaution, it is well worth checking the terms and conditions of each trading tournament to see exactly how the prize money is distributed. For instance, winnings may need to be held in an account for a set amount of time before they can be withdrawn. Sometimes, the prize money takes the form of account credit, which can be re-invested but not cashed out.
Practise
Trading tournaments offer both beginners and experienced traders a chance to refine their trading skills. Participants usually have access to a large amount of virtual cash, allowing traders to invest more capital than they ordinarily would. Tournaments also allow entrants to experiment with riskier trades, which can often be a recipe for success. This high-risk style of trading can also be a good way to get a feel for the market. The relatively low entry fees of many tournaments make them a low-stakes environment for performing risky trades.
Platforms that offer a league-based structure, such as OlympTrade, are good for helping traders of all abilities to improve. When players are divided into leagues, beginner traders have a greater chance of being successful. This allows them to build confidence and learn strategies in a less competitive environment. Experienced traders, on the other hand, can stretch themselves by competing against similarly skilled opponents.
Connecting With Other Traders
Trading tournaments can be a chance to learn from other traders. Studying the strategies of winning competitors is a great way to improve your skills. Many clients also relish the opportunity to connect and discuss tactics. Team tournaments also encourage collaborative trading, which can help to develop trading acumen.
What To Look For In Platforms That Offer Trading Tournaments
Prize Value
Trading tournaments have a diverse range of winnings, from daily competitions with prize pools of around $1,000 to million-dollar one-off events. Daily competitions are usually cheaper to enter, costing only a few dollars. Large competitions, on the other hand, may require a deposit of up $100. They are also likely to feature far more competitors.
Some platforms offer in-house benefits to winning competitors. For instance, successful entrants may win trading capital that can be re-invested but not withdrawn. On some sites, like Pocket Option, traders can unlock achievements by participating in tournaments, which are used to buy trading advantages in the market.
Fees
Trading tournaments can be divided into free and paid competitions. The entry fees for paid tournaments vary, often linked to the prize pool available and the duration of the tournament. As a general rule of thumb, daily tournaments with winnings of a few thousand USD usually have low entry fees. Large, longer-running tournaments often require entry fees in the tens of dollars but will likely feature bigger prizes. On the other hand, some tournaments are free to enter, though these may require you to make a minimum deposit into an account with the platform to take part, so check the terms and conditions first.
Many trading tournaments come with a ‘rebuy’ option, allowing entrants to reset their account balance for a fee. Traders should exercise caution when using rebuys and take care not to invest more than they can afford.
Format & Assets
Trading tournaments can take many different forms. One factor to consider is the length of the tournament, which can last from a day up to a year. Longer contests, lasting for more than a month, may require entrants to invest significantly more cash. In addition, some trading platforms organise competitors into leagues comprising traders of similar abilities. Other platforms run team competitions, allowing groups of traders to work collaboratively.
Many trading tournaments provide entrants with an equal amount of virtual capital to invest. This format is more common in daily tournaments. Alternatively, some sites simply distribute prizes to the most profitable traders on their platform in a given period (usually longer than a month). These types of tournaments are usually run as a promotion and the prizes on offer can be huge.
The range of assets available to trade varies from tournament to tournament. Some of the most popular formats include forex, binary options (like the popular IQ Option) and cryptocurrency trading tournaments. Many competitions allow you to trade in the full range of assets available on the platform, which may include traditional instruments like stocks, futures, commodities and shares.
Regulatory Status
All prospective trading tournament participants should be cautious when signing up for trading tournaments with a new platform. To protect your money, always choose a reputable broker or tournament organiser. It is important to check where the company is registered and how long it has been operating. Firms that have been trading for less than a year or two may require more research. In addition, if a firm is registered offshore, it may be subject to lightweight regulation, meaning that you might not be covered legally if something goes wrong. Finally, it is worth reading online reviews of the company to weed out potential scams.
Final Word
Trading tournaments can be a good opportunity for both budding and veteran traders to develop their skills, meet other investors and trial new tactics, assets and brokers. There are both free and paid competitions run regularly, though the latter will usually offer larger prize pools, sometimes exceeding £1 million. As always, you should be careful not to spend more than you can afford during trading tournaments, especially on rebuys. Nonetheless, trading tournaments can be a fun and rewarding way to trade.
FAQs
Can I Take Part In Free Trading Tournaments?
Yes, several online platforms run free trading tournaments. These sometimes have cash prizes but contestants may also win in-house benefits like free capital or trading advantages. Free trading tournaments are a low-stakes way of getting experience in the market.
What Are The Biggest Trading Tournament Prizes?
Some trading tournaments have featured prize pools worth over one million USD, including one massive tournament run recently by FBS. The prizes keep growing in value, so keep an eye out!
How Long Do Trading Tournaments Last?
Trading tournaments can last anywhere from one day up to a year.
Are There Forex Trading Tournaments?
Several platforms and brokers run regular forex trading tournaments. Other popular tournament assets include CFDs, binary options and cryptocurrencies.
Are Trading Tournaments Good For Beginners?
Trading tournaments, particularly free or low-fee competitions, can be well suited to novice traders. Tournaments can be a good place to pick up strategies, meet other traders and experiment.