Are you ready to test your trading skills and potentially win big? Look no further than the CloseOption contest. The broker [founded in 2013] offers exciting weekly trading contests that provide a risk-free opportunity to enhance your trading skills and win cash prizes. In this article, we'll examine the world of the CloseOption binary contest, exploring everything from the conditions to winning strategies. Let's get started!
What are the CloseOption broker's contest conditions?
CloseOption, a Georgia-based binary options broker, offers weekly trading contests that have overtaken the trading community. These competitions provide both novice and experienced traders an excellent opportunity to test their skills in a risk-free environment. Here are the key conditions:
- 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. Here are the prize distributions for the contest listed below:
- 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.
This breakdown ensures that a wide range of participants have the opportunity to win cash prizes.
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 binary contest is a straightforward process. Follow these steps to get started:
- 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 contest, consider implementing these winning strategies:
- 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 broker's contest
Participating in CloseOption's binary contest offers numerous advantages for traders:
- 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.
Writer's opinion and conclusion
In conclusion, CloseOption [founded in 2013] offers a unique and potentially rewarding experience for traders willing to test their skills. For the CloseOption binary contest, combining virtual funds, regular competitions, and substantial cash prizes makes it an attractive option for novice and experienced traders. However, it's important to approach CloseOption contests with caution and a well-thought-out strategy. Write in comments what you experienced with the contest in CloseOption.
