eToro – Forex Trading Forum

[eskimozz]

with regards to the contest, what happens at the end of the week.
what happens to the account balance.

[Trade.Support]

Dear Eskimozz,

Thank you for your questions.

eToro runs two kinds of championships: A monthly real championship and a weekly practice championship.
During the weekend (from Friday 5 pm EST till Sunday 5 pm EST) the market is closed so the real trading accounts are not active. The Demo mode is working with historical rates and the Demo trading is active but the profits / losses that you gain during the weekend will not be included in the calculations for the Demo championship.
As for the Demo account balance, it changes according to your trading profits / losses.

You are welcome to contact us via chat or email at: support@eToro.com

You can also contact us with the following numbers:

Australia 1-800-185-506
Canada 1-866-922-0433
United Kingdom 8081011395
International: + 357 25 025046
Fax: + 44 203 031 1342

eToro support team

[eskimozz]

what i mean is with the weekly contest. since winners are announced each week, what happens to the balance of contestant accounts. are they changed to effect the same balance for the next week tournament or are they retained. how do you judged the winners for the week. on what basis are the winners chosen. is not the contest on a weekly basis.
is it that you have to climb the winners rung week after week until you reached the top and be awarded a winner and cannot join the contest anymore. or is it otherwise. please explain.
thanks.

[FAQ-Admin]

Thanks for your question eskimozz,

To clarify, the tournament winners for each week are chosen based on your gains for that week, meaning that it doesn't matter how much you have in your balance at the beginning or at the end of the week, but the difference between the two, meaning your winnings. The traders with the highest winnings for the week win the prizes. Your balance isn't modified in any way after each tournament.

The contest is indeed on a weekly basis, and winners are chosen every week, regardless of the results of last week's tournament.

Winning the tournament does not in any way prevent you from participating or winning in the next tournament, and you are entered automatically once you start trading in demo mode.

I hope this answers your questions.

If you have any further queries, don't hesitate to contact us by chat, phone, or post here in the forum.

Happy trading,

[biggetje]

Hi, I just "discovered" this community, so sorry for bumping older topics.

I was wondering, is there any point in joining this tournament as a new player? The top players in the competition seem to have like 100.000 profit, so I'm guessing they must have more than a million of play money in their account, supposed they are around here sinch april.

New players start with 2000$, and will run behind forever.

Don't understand me wrong, this is a great action from eToro :). But unless there would some kind of reset, the current top players will keep winning the prizes week after week.

Regards

[FAQ-Admin]

Dear biggetje,

The championships are reset every week since the prizes are awarded to the traders with the biggest profit that week. The profit doesn't depend on how much virtual money you start out with, only the difference between your starting and ending point.

Of course, players with more virtual money in their accounts have a better chance of making higher profits, but you'll see that if you are consistently successful in your trading, your profits will increase exponentially and within a short period of time you'll have as good a chance as any to win the prizes.

Happy trading,

[rnwstcktrdr]

After reading all the above, i would only like to ask why are the winners ranked by profit (difference from previous week's balance) and not by percentage change from previous week's balance? It doesn't make any sense, and it rapidly reduces the "lasting in time" aspect of the game.

[mdmahadeo]

Thanks for your question eskimozz,

To clarify, the tournament winners for each week are chosen based on your gains for that week, meaning that it doesn't matter how much you have in your balance at the beginning or at the end of the week, but the difference between the two, meaning your winnings. The traders with the highest winnings for the week win the prizes. Your balance isn't modified in any way after each tournament.

At the beginning of this week my balance was reset from $11000+ to 2000. Why was that if my balance isn't supposed to be modified after each tournament?