OctaFX is a world-renowned broker founded in 2011 and headquartered at 47 Strovolou, Quiros Building, Nicosia。OctaFX has served millions of customers since its inception。

The broker has received various awards such as Best ECN / STP 2019 and Best Broker in Asia 2019。In addition to this, OctaFX often offers various bonuses and promotions。

An attractive promotion for OctaFX is a global simulation contest for global traders。The competition lasts for 4 weeks, during which participants strive to maximize profits in a demo account。

Anyone can participate in this mock competition, just complete the required registration。For those who already have an OctaFX trading account but have not yet been verified, you can still participate in the contest by filling out the registration form。

After the competition, the highest ranked trader will receive bonuses totaling up to $1,000。

How to conduct OctaFX MT4 simulation contest？

OctaFX Offers Simulated Trading Contest for Clients Using the MetaTrader 4 (MT4) Platform。Traders do not need to deposit any funds to participate in the competition。

In this competition, the top five winners will receive a total prize of $1,000, distributed according to the ranking as follows:

First place will receive $500.

Second place will get $300.

Third place will get $100.

Fourth place will receive $60.

The fifth will receive $40.

By the way, you can withdraw the total bonus if you want。

However, before participating, you must meet specific requirements, including the following standardized trading conditions for each contest account:

● Account type: e.g. OctaFX MT4 account

● Trading tools: such as OctaFX MT4 account

● Initial deposit: $1,000

● Leverage: 1: 500

● Minimum trading volume: 0.01 lots; maximum trading volume unrestricted

You can find this contest page in the Promotions menu。Open the OctaFX website, select the Promotions menu, and then select Champion-Demo。

How to participate in OctaFX Simulation Contest

To participate in OctaFX simulation contest, you can follow these steps:

1.If you do not have an OctaFX account, you need to register an account on their website。

2.After registering, you need to verify your email。Check your email inbox and click "Confirm"。

3.Once your account is set up and verified, log in to your account and navigate to the personal area of OctaFX, open the menu on the right and click "Open Champion Demo Contest Account"。

4.Register your nickname to participate in the mock contest。If the registration fails, it is possible that the nickname you entered has already been used by someone else。You can try looking for other nicknames。

5.If your screen looks like this, then your registration has been successfully confirmed。After you sign up, you have to wait until the next round starts。

6.If this round has already started, you can start the demo trade with an initial margin of $1000。The initial margin is virtual funds provided by OctaFX。You do not need to deposit any real funds to participate in the simulation competition。

7.Focus on profitable trading during the 4-week tournament to stay at the top of the competition。

8.Keep an eye on the race rankings to see where you rank among other contestants。Don't let your ranking be overtaken by other traders。If your position is threatened, quickly secure its position again until the end of the game。

9.If you can get the number one position at the end of the game, you will be eligible for the bonus。

Rules and guidelines for OctaFX Simulation Contest

Before participating, you'd better understand the rules to avoid any unnecessary situations。Here are the rules for participating in the OctaFX competition:

① You must register a new demo account for each round。

② You must agree to provide true data at the time of registration, and providing false information may result in disqualification。

③ Any IP match will result in disqualification。

④ Participation in carry trades or any pricing / quotation abuse will result in disqualification from the competition。

⑤ Strictly prohibit cheating, including opening a large number of opposite orders in the same currency pair in different trading accounts at almost the same time, using quote flow failures to secure profits, or any other form of cheating。

Allow customers to open and close cryptocurrency orders on weekends。

Allow the use of all trading technologies or intelligent trading systems (EA)。

⑧ All open positions will be automatically closed at the current market price on the end date of the competition.。

⑨ Bonus collection must be submitted within one month after the end of the round.。

⑩ Bonuses are deposited directly into the customer's OctaFX wallet and can be withdrawn。

▷ If two or more contest winners have equal balances at the end of the contest, they will share the prize equally。

Recent winners (145th round)

In previous rounds, the OctaFX mock contest has consistently reached nearly 10,000 participants.。For example, in the 145th round (most recently), there were 9,176 participants。

You can check the number of participants by clicking on the "Profile" menu on the broker's website and then clicking on "View results" for each round of the competition.。

Here are the top 5 winners in the latest round that ended on November 18, 2023:

Advantages and Disadvantages

The prize money for the winner of the OctaFX mock contest is very attractive, with the first prize up to $500。In addition, five winners receive cash prizes.。

Such a total amount of prize money is undoubtedly very attractive, inspiring you to participate and win the spirit of competition。

In addition, these bonuses are withdrawable, unlike many other broker bonuses and promotions, which are locked in the trader's assets until certain profit conditions are met.。

In the OctaFX MT4 mock contest, bonuses will be credited to your assets, allowing you to withdraw immediately。OctaFX also offers a full starting fund of $1000 for you to use in the competition。

Since it is a simulation match, any loss you make will have no real economic consequences。From the beginning to the end of the game, you don't need to invest any of your own funds, which is a big advantage。

It's worth noting, though, that the chances of winning the mock competition are slim。This is because traders from all over the world can compete without you knowing anything about their level of experience or expertise。

OctaFX has no specific criteria for contestants。Professional traders can participate in the competition。Therefore, if you are a beginner, you may face experts and experienced contestants, which is a challenge for your competition。

Tips for Winning in OctaFX Simulation Contest

Winning the OctaFX mock contest requires a combination of skill, strategy and discipline。Remember, these are just general tips you can follow, not cheating methods that guarantee you will win。Here are some tips to improve your chances of winning:

● Persistence is the key to the trading race。Aim for stable, gradual returns, rather than risking big bets for quick profits。

● Stick to your plan and avoid impulsive decisions。Your trading plan should include entry and exit points, stop loss and take profit levels, and clear risk management rules.。

Stay informed of the latest market news, economic events and geopolitical developments that may affect financial markets。

● Flexible adjustment of strategies to adapt to changing market conditions。different strategies may be more effective in a given market environment。

● Join trading communities and forums to gain insights, exchange ideas, observe and learn from successful traders。

● Using an appropriate position size, the risk of a single trade should never exceed a fraction of the net value of the demo account。Don't take excessive risks in pursuit of profit。

● Keep transaction records and regularly analyze your performance。Identify your strengths and weaknesses and improve your strategy。

● Don't let emotions dictate your decisions, whether it's fear, greed or FOMO。Emotional discipline is crucial in trading。

● Avoid excessive trading。

● Use what you can optimize。For example, the use of intelligent trading systems (EA) where the competition allows。