CloseOption organizes weekly trading contests with a total prize pool of $1000. The prizes are awarded to the top 20 traders, and only verified accounts can participate.
What Are the CloseOption broker's Contest Conditions?
As noted in the CloseOption review, this binary options trading platform holds weekly contest for beginner and professional traders to test their skills. conditions of CloseOption contests:
- CloseOption broker's contest prizes;
- Starting time and ending time;
- Starting balance.
What Are the CloseOption broker's Contest Prizes?
CloseOption offers attractive rewards for top-performing traders. CloseOption contest prize distribution:
- 1st: $300;
- 2nd: $200;
- 3rd: $100;
- 4th: $75;
- 5th: $50;
- 6th: $30;
- 7th: $30;
- 8th: $30;
- 9th: $30;
- 10th: $30;
- 11th: $15;
- 12th: $15;
- 13th: $15;
- 14th: $15;
- 15th: $15;
- 16th: $10;
- 17th: $10;
- 18th: $10;
- 19th: $10;
- 20th: $10.
When Does the CloseOption Broker's Contest Start, and When Does it End?
CloseOption runs its trading contests every week, providing frequent opportunities for traders to participate and win.
While exact start and end times may vary, the contests typically follow a weekly schedule. This regular format allows traders to plan their participation and develop consistent strategies for success.
How much is the starting balance in the CloseOption broker's contest?
CloseOption gives contestants a generous starting balance of $10,000 in virtual funds. This substantial amount allows traders to implement diverse strategies and take calculated risks without jeopardizing their capital.
Virtual funds ensure a level playing field for all participants, regardless of their real account balance.
How Do You Join the CloseOption Broker's Contest?
Joining the CloseOption contest is a straightforward process. Steps to join CloseOption contest:
- Create an account: Sign up for a CloseOption account if you haven't already;
- Make a deposit: Ensure you have at least $1000 in your real trading account to be eligible for match participation;
- Navigate to the contest section: Look for the "Contests" tab on the top left corner of the CloseOption website;
- Choose your competition: you see the current contest available to join; click on “Register for contest”;
- Pay the entry fee: pay the competition entry fee (usually $5-$10);
- Start trading: Once the contest begins, use your virtual funds to execute trades and climb the leaderboard.
Best Strategies to Win CloseOption Broker's Contest
To increase your chances of success in the CloseOption trading contest, you need to have a solid strategy. Best Trading strategies for CloseOption contest:
- Risk management: Carefully manage your virtual funds and avoid overexposure on single trades;
- Diversification: Trade various assets to spread risk and capitalize on market conditions;
- Technical analysis: Utilize charts and indicators to identify profitable entry and exit points;
- News trading: Stay informed about market-moving events and capitalize on volatility.
Note: consider terms and conditions to see if your strategy falls into prohibited activities.
Benefits of Joining CloseOption Trading Contest
Participating in CloseOption's binary contest offers numerous advantages for traders. Benefits of participating in CloseOption trading competitions:
- Risk-free practice: Compete using virtual funds, allowing you to test strategies without financial risk;
- Potential for significant profits: Win cash prizes up to $300 for top performance;
- Skill improvement: Sharpen your trading skills in a competitive environment;
- Networking opportunities: Connect with other traders and learn from their strategies;
- Low barrier to entry: Minimum deposits as low as $5 make the contests accessible to all.
TF Expert Suggestion
The highest prizes in the CloseOption contest are awarded to the top three traders, with $300 for the first-place, $200 for the second-place, and $100 for the third-place.
If you’re among the winners, you can refer to TradingFinder’s detailed CloseOption deposit and withdrawal methods article to learn about different ways to cash out your earnings.
