If you win the XM trading competition, you can receive a cash prize worth $15,000 that is fully withdrawable. The top 10 rankings will also receive a minimum of $1,000 each.
XM, a globally experienced broker that has been operating since 2009, is known as a multi-regulated broker that offers favorable trading conditions for its clients. With just a $5 deposit, you can start trading with XM.
They also provide a variety of financial assets, along with negative balance protection to ensure the safety of your account. With such robust trading conditions, you certainly have the opportunity to win the trading competition hosted by XM, with withdrawable cash prizes up to $65,000.
For the first-place winner in Tier 1, the total cash prize amounts to $15,000, Tier 2 offers $7,000, and Tier 3 provides $2,500. The top 10 individuals in each tier also have the chance to receive cash rewards.
This competition is open to those who already have a real trading account with XM. For more detailed information, please review all the details about the XM trading competition below.
Win A Withdrawable Cash Prize Worth $65,000
As mentioned above, the biggest prize you can obtain from the trading competition held by XM is a cash amount of $15,000. This prize applies if you manage to secure the 1st ranking in Tier 1.
Overall, there are three levels or categories (referred to as Tiers) in this XM trading competition. Here is the prize list for each winner in each tier for the period from July 11th to August 12th.
|Rank||Tier 1||Tier 2||Tier 3|
|Total Prize Pool||$40,000||$20,000||$5,000|
The 6th to 10th rankings in Tier 1 are also entitled to receive $1,000 each in cash. Meanwhile, the 6th to 10th rankings in Tier 2 will receive $500 each. However, the 6th to 10th rankings in Tier 3 are listed as period winners but do not receive cash prizes.
When totaled, the prizes offered by XM in Tier 1, Tier 2, and Tier 3 amount to $65,000! This is significantly higher than the previous period, which started on June 27th to July 5th, with a total prize pool of only $30,000, as there were only Tier 1 and Tier 2, with cash prizes distributed to 5 winners in each tier.
Unlike cash prizes typically awarded in trading competitions, which can only be used for trading, the cash prizes from the XM trading competition can be withdrawn directly without any additional conditions. Quite tempting, isn't it?
What Are the Differences Between Tier 1, Tier 2, and Tier 3?
As you can see, the number of tiers varies from one period to another. In the first period, there were only Tier 1 and Tier 2, while in the subsequent periods, there are 3 tiers. So, what sets each tier apart?
Tiers represent different equity entry criteria for the same competition. For instance, in the XM trading competition with withdrawable cash prizes, there are Tier 1, Tier 2, and Tier 3. Tier 1 requires an equity entry of $1,000, Tier 2 requires $500, and Tier 3 requires $100.
The competition itself remains the same, but you need a higher equity amount to participate in Tier 1. Consequently, Tier 1 offers more attractive prizes compared to Tier 2 and 3.
Where to Find the Information on the Official Broker Site?
- This information is reported per Sep 14 2023.
- We can not ensure if this offering is still available or remain the same in future.
- The broker announcement page may or may not exist anymore, You may explore XM homepage and try to find "Promotion" section on the menu, footer, etc, to ensure the availability and validity of this promotion.
How to Join the XM Trading Competition
The XM trading competition is a relatively new contest, as it began in June. This competition is open to all XM clients with real accounts.
So, if you don't have a real account with XM yet, you can create one first. This trading competition applies to real accounts of both the standard and ultra-low standard types.
Each period of the XM trading competition lasts approximately one month, with the start date determined by XM itself. The competition will continue as long as there are no announcements from the broker.
Now, if you're interested in testing your skills in the XM trading competition, you can join by following these steps:
- Log in to the XM website with your real account.
- In the member area, scroll until you find a banner that says "XM Trading Competition," or you can directly go to the "Trading" menu and select "Competitions."
- Click the button that says "Go To Competitions."
- After that, you will be directed to the competition page. As shown in the picture below, you can view ongoing competitions (In Progress), upcoming ones, and those that have ended.
- Click "Upcoming" to register for the next competition because you won't be able to join once it's in progress.
If there isn't a registration button yet, just wait for the next announcement from XM. You'll know when the next period begins by checking the countdown for ongoing competitions in the "In Progress" submenu.
Rules to Consider When Participating in the XM Trading Competition
Before deciding to join the XM trading competition, it's advisable to take note of several terms and conditions that apply to the competition. Some of them are as follows:
- To win withdrawable cash prizes, you must select the competition to become a Top Performer.
- You are allowed to participate in multiple types of competitions simultaneously, for example, joining both the social trading competition and the daily challenge.
- One account can only be used for one competition.
- Accounts used for competition must be either standard or ultra-low standard accounts.
- Your trading account must have equity in accordance with the competition's rules to participate. For instance, if you want to join a Tier 2 competition that requires a minimum equity of $500, you must deposit $500 first.
- You are permitted to use both MT4 and MT5 as well as expert advisors for the competition if you wish.
- If your trading performance is 0 due to inactivity, you will be excluded from the cash prizes, regardless of your ranking.
- If two individuals happen to win with the same trading performance and ranking, the prize will be split between them.
- Withdrawal can result in your elimination from the competition.
- You are allowed to enter a competition with existing open (winning or losing) trades.
How Top Performers Are Determined
XM selects winners based on their trading performance throughout a given period. Your performance in the XM trading competition is calculated using the following formula:
Performance = (Current Equity - D W) / Initial Equity - 1
Your performance determines your ranking in comparison to other participants. Rankings are calculated based on the performance of all participants.
At each calculation interval (usually every 10 minutes), the performance of all participants is calculated and then sorted in descending order. The higher the performance, the higher the ranking.
Additionally, there is also a separate scoreboard for Top Improvers, which includes individuals who may not have won but have shown exceptional progress compared to others.
Most Recent Top Performers
The XM trading competition has been ongoing since June 2023 and has produced several winners who successfully claimed withdrawable cash from XM.
People who successfully win the XM trading competition are referred to as "Top Performers." If you manage to become a Top Performer, you will gain more recognition from followers on the copy trading platform.
In the Tier 1 category, here is the Top 10 Performers list triumphed over 531 competitors from July 11th to August 12th.
In the Tier 2 category, there were 847 participants, and these Top 10 Performers emerged victorious.
Finally, in Tier 3, only 5 Top Performers out of 1,671 individuals managed to secure withdrawable cash.
You can always view the list of top performers in the XM trading competition under the "Ended" submenu. The results are displayed on the dashboard alongside all the statistics for ongoing competitions.
Participating in the XM trading competition has no downsides for you. In fact, you can gain a lot from it. For instance, you'll get to assess your abilities in comparison to other traders, test the extent of your own skills, gain valuable trading insights, and your name will also gain a reputation if you manage to win.
So, what are you waiting for? Register yourself in XM for the upcoming period now. Good luck!
XM is a well-regulated forex brokerage that offers a wide range of trading instruments, including forex, CFDs, stocks, indices, commodities, and cryptocurrencies. XM also offers a variety of educational resources, including webinars, tutorials, and e-books. These resources can help traders learn about the forex market and how to trade.