Reviews Of The Best Stock Trading Contests

What is a stock trading contest?

A stock trading contest, also known as a stock trading competition, is a simulated event where participants engage in virtual stock trading to compete against each other. These contests provide individuals, often beginners, a platform to practice and showcase their stock trading skills without risking real money. They typically mimic the dynamics of actual financial markets but with specific differences for educational and competitive purposes.

Stock trading contests generally follow a structured format, and here's how they typically work:

• 1

  Registration. Participants must first register for the contest. Depending on the contest, registration may be open to anyone or restricted to specific criteria, such as age, location, or trading experience

• 2

  Virtual capital. Upon registration, participants have a virtual trading account loaded with a predetermined amount of virtual capital. This capital is used for buying and selling assets within the contest

• 3

  Contest duration. Each contest has a predefined time frame for participants to execute trades. Depending on the contest rules, it can range from a few days to several weeks

• 4

  Stock selection. Participants are usually given access to various stocks or financial instruments to trade within the contest. Based on their analysis and trading strategies, they can choose which stocks to sell and buy

• 5

  Trading rules. Contests often come with rules and restrictions. For example, there might be limits on the number of trades one can make daily, minimum holding periods for stocks, or restrictions on specific trading strategies, like short selling

• 6

  Real-time market data. Participants have access to real-time market data, including stock prices, news, and charts, which allows them to make informed trading decisions

• 7

  Portfolio monitoring. Participants can monitor their virtual portfolios throughout the duration of the contest. The portfolio's value fluctuates based on the performance of the stocks they have bought and sold

• 8

  Winning criteria. The winner of the stock trading contest is usually determined based on specific criteria, which can vary. Typical criteria include the highest portfolio value at the end of the contest, the highest percentage return on investment (ROI), or achieving specific trading objectives set by the contest organizers

• 9

  Prizes. Contests often offer prizes to the top-performing participants. These prizes can include real cash rewards, trading credits, or other incentives. The value and nature of awards depend on the contest's sponsor or organizer

• 10

  Learning opportunities. While the primary goal of stock trading contests is often competition, they also serve as valuable learning experiences. Participants can refine their trading strategies, test new approaches, and gain insights into the world of stock trading without risking real capital

• 11

  Community and networking. Some contests foster community among participants, allowing them to share insights, tips, and strategies. This can be valuable for beginners seeking guidance from more experienced traders

Best stock trading contests

Now, let's take a moment to review the best ones available in 2023. Be it special offers or demo contests in 2023, these competitions offer a unique opportunity for beginners to test their trading skills, learn from experts, and win prizes. Here are the top contenders.

eToro contests

eToro Review

Open an account

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest.

eToro's contests offer a thrilling opportunity for traders to compete and showcase their skills on a global stage. These competitions begin promptly at 00:00 AM GMT on the first day of each calendar month in 2023, continuing until 11:59 PM GMT on the last day of the respective month. To enter, participants must register by clicking the Join Now button at least three days before the competition starts.

Eligible participants include verified and funded eToro users from countries regulated by the Australian Securities and Investments Commission (ASIC). Additionally, users must maintain publicly shared trading activities throughout the competition period and have executed at least one real-money trading action.

Here are the rewards:

The competition aims to reward the trader with the highest monthly profit ratio, with ranking criteria including the lowest maximum drawdown rate and higher equity in case of ties. eToro promptly publishes winners' names, countries, and deposits rewards directly into the accounts of the top three participants within 30 days after each competition's conclusion.

Revolut contests

Revolut Review

The Revolut contest offers an enticing opportunity for eligible users to earn cash rewards using their Revolut card for transactions. To qualify, participants must spend more than £100 (or the currency equivalent) during the competition period, which ran from February 18, 2022, 12:00 GMT to March 17, 2022, 12:00 GMT.

Only users who have received an invitation through email or in-app communications and have opted in via the provided in-app form are eligible. Additionally, participants must maintain an active account in a suitable market, remain on the same subscription plan as when they received the communication about the competition, and ensure their account is in good standing.

The prizes include:

The winner, randomly selected from valid entries, will be notified via push notification and email. The cash prize, either £1,000 for Revolut Ltd users in England, Scotland, or Wales or €1,000 for Revolut Bank UAB users in Ireland, will be credited to the winner's Revolut account within approximately ten working days.

Wealthsimple contests

Wealthsimple Review

Open an account

Your capital is at risk.
Via Wealthsimple's secure website.

The Wealthsimple contest, spanning from October 3, 2023, at 12:01 AM ET to November 10, 2023, at 11:59 PM ET, presents an enticing opportunity for participants to boost their savings. Eligibility for this promotion is limited to Referrers who are active Wealthsimple users with all accounts in good standing, legal residents of Canada, and the age of majority or older in their province at the time of participation.

To participate, referrers must have received an invitation via email, push notification, or notification in the Wealthsimple App's Reward Center. The Referrer must provide their referral link or unique promo code to a Referee, who, in turn, must sign up for a Promotion Account and deposit qualifying funds into the Promotion Account during the Promotion Period. Upon a successful Qualifying Referral, the Referrer and Referee become eligible for a Boosted Rate, a 0.5% annualized interest rate paid monthly and calculated daily.

The Boosted Rate is applied to Wealthsimple Cash accounts within ten business days after the promotion's end and remains active for three consecutive months. It's worth noting that this promotion can be combined with the Wealthsimple Referral Reward Promotion for added benefits.

M1 Finance contests

M1 Finance Review

M1 Finance currently entices US residents without registering for an M1 account with an enticing welcome bonus program. Depending on the initial deposit size, traders receive a welcome bonus ranging from $75 to a substantial $500.

To be eligible, participants must sign up for an M1 account and initiate a deposit of $10,000 or more through Automated Clearing House (ACH) within a 14-calendar day window. While deposits can be made at any time during this period, they must total at least $10,000 and be directed into a taxable M1 investment account.

The one-time cash reward is disbursed into new M1 brokerage accounts on the final day of the sixth month following the trader's sign-up. Notably, the bonus is credited in cash value, not stock or other security, providing participants greater flexibility in their investment choices.

Webull contests

Webull Review

Webull hosts an engaging weekly paper trading competition that allows participants to win cash rewards, regardless of their trading experience. To join, simply sign up and play for free, utilizing virtual cash to build and manage your portfolio. The rules are simple: if your rate of return registers as positive at the end of the week, you qualify for a prize of up to $300.

This competition provides an excellent opportunity for traders to hone their skills, experiment with trading strategies, and potentially earn cash rewards. It's a win-win situation for those looking to test their trading prowess without risking real capital.

Even if you have the capital to invest but are uncertain where to start, Webull's paper trading platform offers a risk-free environment for testing the waters and building confidence. Moreover, this contest is the ideal arena to experiment with new trading strategies, fine-tune existing ones, and explore the intricacies of the stock market, all without any financial risk.

TD Ameritrade contests

TD Ameritrade Review

TD Ameritrade has long been a trusted name in online trading. While they no longer offer promotional contests or bonuses due to their acquisition by Charles Schwab, they continue to provide their clients with valuable resources for practice trading.

One such resource is the ThinkorSwim trading platform, which includes a Demo Mode known as Paper Money. This powerful platform, available as a desktop program and a mobile app, allows traders to simulate actual trading scenarios without cost.

To access Paper Money, clients must have a TD Ameritrade account, offering a risk-free environment for honing their trading skills, testing strategies, and familiarizing themselves with the stock market dynamics. While the era of TD Ameritrade's contests may have passed, their commitment to helping traders succeed through educational resources remains steadfast.

Why participate in stock trading contests?

Now that you know where to find the best stock trading contests, let's explore the reasons why you should consider participating in them:

• Skill Development

Stock trading contests provide an opportunity to enhance your trading skills. You can practice different trading strategies, learn about risk management, and gain insights into market dynamics.

• Hands-on Experience

Contests offer a risk-free environment for hands-on trading experience. You can apply what you've learned without risking your capital.

• Prize Incentives

Winning a stock trading contest can earn you real cash prizes or valuable trading credits, providing a tangible incentive to participate.

• Other Benefits

Contests often come with added benefits like mentorship opportunities, access to educational resources, and exposure to a community of traders.

Disadvantages of stock trading contests

On the other hand, while stock trading contests offer many advantages, it's essential to be aware of their drawbacks:

• Risk of Overtrading

In pursuing winning, participants may engage in excessive trading, leading to poor decision-making and losses.

• Limited Real-World Experience

Contests occur in a controlled environment, which may not reflect the complexities of real-world markets.

• Focus on Short-Term Gains

Contests typically emphasize short-term trading strategies, which may not align with long-term investment goals.

• Other Considerations

Contests may require you to spend significant time monitoring the markets, which can be demanding.

Best stock brokers 2024

1

9.4/10

Go to broker

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Minimum deposit:

From $100

Review

The eToro broker was founded in 2007. The company promotes itself as a social trading platform working with traders from over 140 countries. The broker has several divisions operating under different jurisdictions and licensed by different regulators. For example, eToro (Europe) is licensed by the Cypriot regulator CySEC (109/10) and eToro (UK) is licensed by the British regulator FCA (583263). The broker also has a representative office in Australia and the USA.

Pros/Cons

•High level of reliability ensured by the licenses of respected regulatory authorities and participation in the compensation funds.

•Wide selection of assets quoted at stock exchanges in the UK, U.S., Australia and Asia.

•An opportunity to combine active trading with social trading and passive investing.

•Zero-fee trading of a number of stocks.

•Access to ready-made diversified asset portfolios with various risk levels.

•Provision of leverage, educational materials on various markets and user-friendly trading platforms that can run on any device.

•Zero fees for portfolio management, depositing funds and account maintenance.

•High minimum deposit for users of a number of countries.

•No live chat on the website for quick connection to customer support.

Study Review

2

9.2/10

Go to broker

Your capital is at risk.
Via eOption's secure website.

Minimum deposit:

$1

Review

The eOption broker (eoption.com) is an American stockbroker headquartered in Glenview, Illinois. It has been operating since 2007 and is a member of FINRA (CRD#: 7297/SEC#: 8-21765) and SIPC. It specializes in options trading and also acts as an intermediary in trades involving the popular securities classes. The company offers low trading commissions, super-fast execution of orders, and modern platforms with an advanced set of analytical tools. In 2020-2021, eOption was recognized as the best options broker by several resources such as Investopedia, The Tokenist, Benzinga, Investormint, and NerdWallet.

Pros/Cons

•Low commissions for options trading — $0.10 per contract plus $1.99 per trade.

•No minimum deposit requirements for cash trading accounts opened by US residents.

•FINRA membership and the protection of clients’ funds are available through Securities Investor Protection Corporation (SIPC).

•Access to professional trading platforms such as DAS and Sterling Trader Pro are developed by third-party software developers for the proprietary eOption terminal.

•An affiliate program with high rewards.

•Compensation for commissions for funds or assets from other brokerage firms and institutions transfer.

•Prompt support by phone and online chat in the trading platform during company business hours.

•The narrow range of choice of investment solutions to generate passive income.

•You cannot trade Pink Sheet and Bulletin Board stocks.

•There is no online chat on the company's website.

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