XM Competitions 2024: Win Up To $45 000 Monthly! 💰⚡

XM competitions offer traders of every skill level an engaging platform to test their trading abilities, pit themselves against others, and potentially win real cash rewards. XM hosts various contests throughout the year, which include demo contests for novices, real trading contests for more experienced traders, and social trading contests that encourage interaction among participants.

Renowned for its credibility and innovation, XM is a well-established online trading platform that provides traders globally with various financial instruments and services.

These competitions provide an exciting avenue for traders to demonstrate their trading skills, engage in friendly competition with peers, and vie for attractive prizes.

XM broker has several trading competitions on live and demo accounts.

XM Live Account Competitions

• The Weekly Bull Tournament (Prize pool $20 000)
• The Daily Challenge (Prize Pool $5 000)
• The Five-Day Showdown (Prize Pool $30 000)
• The Funded Strategy Manager with different tiers (Prize Pool Tier 2 $20 000, Tier 1, $40 000)
• Top Performer with three tiers. (Prize Pool, Tier 3 $40 000, Tier 2 $20 000, Tier 1 $5 000)

These different XM competitions have different account types and equity requirements. You can see these specific requirements when you register for each competition.

XM Demo Contest 2024

• Weekly Demo Contest (Prize pool $10 000)

The XM demo contest is open to any XM account holder who opens a demo account and verifies it.

In the XM demo contest, prizes are awarded to the top 50 participants based on their rankings. The individual with the highest rank receives a top prize of $1500. Additionally, the participants who finish in the last 11 positions each receive $50.

The prizes for this free trading competition are impressively generous. Additionally, with prizes being distributed to a large number of participants, your odds of winning are relatively high.

How To Enter The XM Trading Competitions 2024

These XM forex competitions are open to all XM clients with verified real accounts.

Entering XM's trading competitions is a structured yet straightforward process. Here’s a step-by-step guide on how to participate:

Step 1: Open an XM Account

First, you need an XM trading account. If you already have one, you can use it.

Enter your details, verify your email and choose the account type and platform.

Step 2: Verify Your Account

All XM competitions require you to have a verified account. Fortunately, my experience has shown that XM account verification is quite straightforward.

If you are residing in your country of birth, you only need to upload your ID for verification and do not need to provide proof of residence.

For account verification with XM, log into your account and navigate to the members' area. In the section labeled “Upload Documents,” you can upload a clear color copy of a valid identity document such as a passport, driver’s license, or identity card, ensuring both the front and back are visible.

Once you upload your documents, wait for verification, which typically takes about 24 hours. XM will confirm the successful upload via email, and once verified, all account restrictions will be lifted, granting you full access to your account.

Step 3: Choose Your Competition

Login to your XM dashboard and locate the competitions section. Here, you'll find a list of available competitions, including demo and real account contests. Each competition will have specific details about eligibility, prizes, and trading conditions.

Step 4: Register for the Competition

Once you've selected a competition that suits your trading style and goals, register for it. This usually involves clicking on a “Join” or “Register” button next to the competition details. Some competitions might require you to meet certain criteria such as a minimum deposit or a specific account type.

For example, the XM Weekly Bull Tournament requires an XM Standard account with at least $50 equity.

Some competitions permit entry even after they have started, while others require participants to join before the contest begins and do not allow late entries.

Step 5: Prepare for Trading

After registration, prepare for the competition by familiarizing yourself with the contest rules and any specific trading conditions that apply. This could include restrictions on trading instruments, leverage, or the use of trading strategies and tools like Expert Advisors (EAs).

Step 6: Start Trading & Monitor Your Performance

When the competition begins, start trading according to the contest rules. Competitions usually have a start and end date, and your performance during this period will determine your ranking in the contest.

Throughout the competition, you can check your performance and rankings either through your XM account or a specific competition leaderboard that XM provides. This helps you gauge where you stand relative to other participants.

Step 7: Competition Closure and Prizes

Once the competition ends, final rankings will be announced, and winners will be awarded their prizes. Prizes could be credited to your XM trading account or offered in other forms, as specified in the competition details.

Step 8: Review and Learn

After the competition, review your trading performance and the strategies you used. This reflection can provide valuable insights, whether you win a prize or not, helping you improve in future competitions or regular trading.

Terms & Conditions Of The XM Trading Competitions

1. To win withdrawable cash prizes, you must select the Xm Forex competition to become a Top Performer.
   
2. You are allowed to participate in multiple types of XM trading competitions simultaneously, for example, joining both the social trading competition and the daily challenge.
   
3. One account can only be used for one competition.
   
4. Accounts used for competition must be either standard or ultra-low standard accounts.
   
5. Your trading account must have equity required by the XM Forex 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.
   
   
   
   
   
   
   
6. You are permitted to use both MT4 and MT5 as well as expert advisors for the competition if you wish.
   
7. If your trading performance is 0 due to inactivity, you will be excluded from the cash prizes, regardless of your ranking.
   
8. If two individuals happen to win with the same trading performance and ranking, the prize will be split between them.
   
9. Withdrawal can result in your elimination from the XM forex competition.
   
10. You are allowed to enter a competition with existing open (winning or losing) trades.

How Top Performers Are Determined In XM Contests

XM selects winners for the contests 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

• Current Equity = your equity at every evaluation point, typically every 10 minutes.
• Initial Equity = your equity at the point of entering the competition.
• D = Deposits during the period after joining the competition.
• W = Withdrawals during the period after joining the competition.

Your performance determines your ranking in comparison to other participants in the XM contest. 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.

Tips For Succeeding In XM Competitions

• Choose the right XM trading competition for you:
  XM offers a variety of competitions with different formats and prize pools. Choose a competition that is appropriate for your trading experience and risk tolerance.
  
  
• Develop a trading plan:
  Before you contest in an XM trading competition, develop a trading plan that outlines your entry and exit criteria, risk management strategy, and money management strategy.
  
  
• Manage your risk: It is important to manage your risk carefully when trading in a competition. Do not risk more money than you can afford to lose.
  
  
• Be patient:
  It takes time and practice to become a successful trader. Don't get discouraged if you don't win a competition right away. Keep practising and learning, and you will eventually achieve your trading goals.
  

These tips will help you get the most out of these competitions.

XM At A Glance

🔎Broker's Name	XM.com
🏚 Headquarters	UK
📅 Year Founded	2009
⚖ Regulating Authorities	FCA, IFSC, CySec, ASIC
🧾Account Types	Micro Account; Standard account; Ultra Low Account; Shares Account
🎁 Bonus	Yes, $30
🧪 Demo Account	Yes
💸 Fees	$3.50
💸 Spreads	spreads from 0.6 to 1.7 pips
💸 Commission	commission-free trading depending on the account selected
🏋️‍♀️ Maximum Leverage	1:1000
💰 Minimum Deposit	$5 or equivalent
💳 Deposit & Withdrawal Options	Bank Wire Transfer, Local Bank Transfer, Credit/Debit Cards Neteller Skrill, and more.
📱 Platforms	MT4 and MT5
🖥 OS Compatibility	Web browsers, Windows, MacOS, Linux, Android, iPhone, tablets, iPads
📊 Tradable assets offered	Forex, commodities, cryptocurrency, shares, indices, metals, energies, options, bonds, CFDs, and ETFs
💬 Customer Support & Website Languages	23 Languages
⌚ Customer Service Hours	24/5
♻Copytrading	Yes
🚀 Open an Account	👉 Click Here

Frequently Asked Questions On XM Competitions