What is tournaments?

In fact, the platform’s tournaments are not a rare occasion – they also have the set of fixed and flexible rules that may change from one competition to another. For example, during every tournament the participants work on the separate accounts that have the initial capital distributed by the administration. The main goal is getting the maximal income until the assigned deadline by picking the most effective marketing strategies for it. As for the deadlines, additional conditions – all of them undergo changes with every tournament, providing the real challenge even for experienced participants. To get more details, the person should visit the special FAQ section dedicated to time-limited events in on “Help” page.

Prizes

From one competition to another, there are different prize pools and numbers of possible winners. While one tournament will accept only nine winners, the next one may include around 25-30 participants, so there is always a chance to become one of them. The higher the position is in the final chart, the bigger the winning sum is – the maximal win for one participant can reach around thousand dollars. For more details, the trader should visit the FAQ section on the “Help” page dedicated specifically to tournaments.

Participants

In general, every trader with an experience of real trades can apply for the tournaments – the exact requirements for the participants are rather rare in the community. After making sure the terms of application are clear, and the balance of account has the sufficient amount for entrance fee, the trader is free to enter the competition.

At the beginning of competition, the preliminary tournament list will be shown for the reference purposes. It will also show the exact share of prize pool and participants’ perspectives on winning, allowing to calculate the odds for successful results. Once the real tournament starts, the list will be updated with real applicants and updated regularly. The “Tournament” section of the “Help” page will tell more about the general setting related to the events.

Re-buy Cost

In case the participant feels the need in the refilling of tournament account, this mechanism is also allowed by the system by showing the “Rebuy cost”. Although such donations let the participants to lead the charts, the tag about using this cheat will be added along with the number of used “rebuys”. So, the trader should carefully consider applying this method, moreover, passing the tournament on the highest positions without refills is a tough but rewarding challenge the experienced trader will rarely miss. To get more information about this competition aspect, the user should review the content of “Help” page which is dedicated to tournaments.

Number of Re-buys

The total number of refills throughout the competition is not restricted by general means, but there is one condition to fulfill – the current balance with profits from open positions create a lower number than the starting amount. Without it, the applicant is allowed to recharge once at the beginning of the competition for a head start. For more details and conditions, the “Tournament” section of “Help” page is always open.

IqBroker Tournaments Instruments

In terms of available instruments, the competition allows only trading of options, but the asset types can belong to any category. With their help, the applicant can build the unbeatable strategy that will provide the highest places in the total chart. The engaged amounts are also unlimited, entrusting the decision completely to the participants. To learn more, the user can see the stated FAQ on the “Help” page, in the section dedicated to tournaments.

IqBroker Leaderboard in Tournaments

The competitions of IQ Broker can also serve as a fight of the ideas in trading – whether the user should focus on one type of investment or extend the portfolio to the maximal extent possible. For seeing the exact details of tournament participants and strategies, there is the enhanced version of the leaderboard that is opened via “Read more” option. Both the ongoing charts and past records can be reviewed when entering the tournaments’ FAQ section.

IqBroker Tournament Sample

As an example of how the competition may be handled, the screenshot above shows the general overview of the latest trading tournament. Based on the prize pool, entry fee, number of participants and other data, the user can calculate the chances of winning, whether it is worth taking part and start expecting the next competition occurring on the IQ Broker platforms.