If you are a crypto, forex, or stock trader, then PrimeXBT contests are something you must check out. PrimeXBT introduces several real contests from time to time, and it allows you to earn exciting prizes (mostly USDT).
Full-time traders can use PrimeXBT contests to compete against other traders and earn different rewards. Also, it is pretty easy to get started with.
So the question is, what are PrimeXBT contests, and how to get started?
Well, here is all the information you are going to need:
What is PrimeXBT Contest?
PrimeXBT offers many interesting trading features, Contest being one of them.
With Contests, traders can participate in different trading competitions and compete with other traders and test their skills to win prizes.
All the contest participants are provided with virtual funds. As a result, you will get a risk-free environment to trade and practice your skills.
Contests are available to all kinds of traders, be they crypto, commodity, Forex, or stock traders. The only goal is to increase your win rate to top the leaderboard.
The higher your returns are, the higher ranking you will be getting.
Under contests, you will find two sub-sections. These are:
All Contests: This features all the ongoing and upcoming, and finished contests, and you can see all the details from here.
My Contests: On this page, you will find the contests joined you. From here, you can review your contest stats, access your trading accounts for each separate contest, and more.
PrimeXBT Contest Rules
Before you start trading in PrimeXBT contests, you must be aware of a few contest rules. Such as:
- Contest prize pools are distributed between the winners.
- Each contest comes with its own qualification rules, and you must meet them to participate in a contest.
- Only qualified participants are included in the final ranking upon contest expiry.
- All the prizes are distributed to the winners in the form of promo codes that can be used as tradable bonuses for opening trading positions and covering fees/losses incurred on real margin accounts.
- You are not allowed to withdraw your prize funds.
- Once you join a contest, you will receive a new contest trading account with the same initial margin as mentioned on the contest stats page.
- Once you have joined, you can’t join the same contest with a new account. Or you can reset your existing contest account.
- Trade and overnight fees on contest accounts are also charged the same way as real accounts.
However, for a better understanding, I would recommend you to check the PrimeXBT contests rules page carefully.
How To Join PrimeXBT Contests?
Now the question is, how do you join a PrimeXBT contest and start trading?
To create an account and start participating in contests, follow the below steps:
Step 1: First, create a PrimeXBT account using Inwara’s referral link.
Step 2: After joining the icon, click on the Hub icon and go to Contests.
Step 3: Over here, you will get to see all the ongoing contests.
Step 4: Now before joining any of the contests, click on the View button to check the requirements. Even if you don’t meet the contest requirements, you are still able to join the contest. But you won’t get any rewards even if you win it.
Step 5: Once you know the contact details, click on the Join page and start trading using virtual money.
Do I Need To Deposit Funds To Participate In PrimeXBT Contests?
There is absolutely no need for you to deposit funds to your real account to start participating in PrimeXBT contests. Instead, PrimeXBT will provide you funds to trade in your contest account. Also, make sure to meet the eligibility requirements to receive prizes after you win a contest.
Can I Participate In Multiple PrimeXBT Contests At Once?
Yes, you are allowed to participate in multiple PrimeXBT contests at once. However, you are not allowed to rejoin or reset a contest you have already joined.
So that was how you could enter a PrimeXBT real contest and win prizes. PrimeXBT hosts several monthly and weekly contests from time to time. So even if you miss one contest, there will always be another one for you to participate.
However, most contests require you to complete a certain amount of trades in your real account to qualify for the PrimeXBT contest leaderboard. So make sure to check that out before you join any contests.