PrimeXBT, the global multi-asset platform that offers a comprehensive suite of trading products and cryptocurrency services, has looked to bring competition and fun to its platform with a newly launched Contest Module.
The newly launched Contests Module is intended to stoke friendly competition amongst the trading community. It will kick off with the Grand Trading Competition, which will have a $100,000 prize pool split among the ten top-performing traders.
The trading competitions allow users the chance to not only succeed in trades but also win prizes for excellent trading performances.
Virtual funds are used to make all traders risk-free, and competitions use live market data to simulate a real-time trading environment. There is a requirement of an entry fee or no deposit; all that is necessary is to demonstrate a trading performance that emphasizes the best possible ROI.
The $100,000 prize pool will be divided by the top 10 best performing traders, with the top podium spot getting an impressive $50,000 reward. The second-place will receive $20,000, and the third place will get $10,000. The remaining seven winners will be rewarded with prizes between $500 and $7,000.
The competition also extends across a wide variety of markets. PrimeXBT allows traders in crypto, oil, forex, metals, and stock indices to try their best to win one of the prizes in the Grand Trading Competition.
A Bigger Community
PrimeXBT seems to be tapping into the competitive spirit known to be inherent in traders with their Contest Module. Previously, they have seen in their Copy Trading Module that leader boards often lead to a lot of excitement and engagement from the trading community.
PrimeXBT states that this Contests Module is there to try and bolster that social element to trading and to grow their ecosystem of traders across the various markets. It is also a good arena for new traders to learn and to level themselves against more experienced people.
The capital and risk-free experience will be a good place for new traders to learn, while professionals will also have the chance to show their expertise broadly & improve engagement around their followings.
PrimeXBt also believes that this module could be a good place for platform partners to leverage the Contests module to develop branded community trading competitions, attracting and engaging their audiences.