At the end of the Public contest, top 10 contestants will win cash prizes which as follows:
Binary Options contests are the only risk free opportunity for learning and trading while experiencing excitement and earing cash prizes. For all individual traders it is important to take a chance and test their trading skills and at the same time not to lose their money. This does not mean all traders can experience is trading in a risk free atmosphere and all they interface is trading tools, chart and user. An important factor is, however, the sense of competing that is always associated with excitement, and winning/loosing binary that makes traders either feel happiness of being the best which is always thrilling, or make them try their best to be the next winner in upcoming competitions.
Binary options contests are becoming more popular in the world of trading options for offering some unique features. Participating in Binary Options contests does not require traders to deposit their money, i.e. the money is virtual; however, some brokers charge an entry fee. Using the virtual money, a trader can win real cash prizes. All a trader should do is to bid against others and increase the initial balance and whoever is more talented in trading will be the winner for real cash prizes.
Entering to a contest is an excellent introduction to the world of trading, especially for those who are newcomers. They can take a chance and see how trading works while they are not losing their money while learning, and they can see what their position is with regard to other traders, and track their accomplishment by consistently participating in contests. Those people who scare to risk their money in real world of trading can enter to contest trade type which does not require them to deposit real money.
Another feature that makes contests unique among other competitions is that you recognize your ability in trading. You may think that you are a terrific trader and due to the nature of trading remotely, you may feel badly the need of comparing your trading skills with others. Participating in a Binary Options contest, has fulfilled that feeling by offering live leaderboard feature.
There are usually contests that may take from a week to a month and the management team is the decision maker in this regard. Most of the brokers do not require traders to pay or register for participation, however, some other brokers will require you to approve your account and to pay an entry fee.