Trading tournaments are competitive events where Traders face off against each other for a prize within a limited tournament period. There is a small participation fee that is set by the trading platform beforehand for each tournament event.
Every trader gets a separate Tournament Account with a fixed amount of money in it. The trader with the most money in their tournament account at the end of the tournament period is declared the winner.
They get the largest share of the prize money, while those below them will get progressively smaller shares of it.
Some conditions apply to such tournaments. More information can be found in the IqBroker Help section of the website in the Tournaments subsection.
How To Take Part In The Iq Broker Tournaments?
Follow these steps:
- Go to the Tournaments page on the website or in the App.
- Browse through the presently-running tournaments list and decide which one you want to participate in based on the information provided. Alternatively, you can click on the Upcoming Online Trading Tournaments link above and choose from that list.
- Once decided, click on the Registration button on the right of the respective tournament.
- You’ll get redirected to a different section where you’ll see the details of your tournament account and participation history. You can control your tournament participation from here.
Note that the set fee mentioned before registration gets deducted from your regular trading account. You must have sufficient balance in it for this.
Iq Broker Prize Pool
IqBroker ensures that the prize pool is sufficiently high enough to make your participation worthwhile.
As the number of participants it is distributed between is limited to 9-30 per tournament, you can trade with the confidence of receiving a significant amount.
You will find the distribution details in the Prize Pool Distribution link that leads to a pop-up.
Iq Broker Participants
There are no restrictions on who can participate in the tournaments unless specifically mentioned, which is extremely rare.
You only need to ensure that you’ve read all the rules of the tournament and have sufficient balance in your account.
Those with their accounts banned are, of course, not allowed to participate.
A list of the top traders on the platform is presented before the start of a tournament along with their respective shares of the prize pool. This list is only for demonstration purposes and the names, while of actual traders, are pseudo-participants. The actual list will get updated once the tournament begins.
More information can be found on the FAQ page of the Tournament Help section on the website.
Iq Broker Re-Buy Cost
Some tournaments allow you to refill your tournament account balance during participation. This is called a Rebuy. Rebuys let you continue participating in the tournament without having to worry about your tournament account going kaput.
You do this by adding the entry fee in actual money.
The prize pool will contain the total amount generated due to rebuys along with the prize money.
The rebuy cost will be mentioned on the tournament details page/section. More information can be found under the Rebuy FAQ on the Tournaments Help page.
Number Of Rebuys On Iq Broker
IqBroker doesn’t restrict the number of rebuys a trader can opt for. There are certain conditions to be met, however.
The number of rebuys is unlimited provided the present balance and profit from open positions is below the starting balance. You can reload once at the beginning of the tournament.
More information can be found under the Rebuy FAQ on the Tournaments Help page.
Iq Broker Tournament Instruments
You can only trade options when participating in a tournament.
However, the types of asset classes are unrestricted. You are not even limited in the finds you decide to use for the same.
More information can be found on the Tournaments Help page.
Iq Broker Leaderboard In Tournaments
IqBroker makes it very easy for participating traders to view their standings in the tournament.
There is a separate Leaderboard section that details all the particulars of every participant such as their current standing, their share of the prize pool, details of the tournament, etc.
It can be found by clicking on the Read More link of the Past Trading Tournaments section on the Tournaments page.
Iq Broker Tournament Sample
For further reference, let us look at a concluded tournament and determine how it transpired.
- Tournament Name: IQLaunch
- Kick-off Time and Date: 20-9-2021 UTC 21:00 hrs
- Duration: 7 Days
- Entry Fee: $4
- Rebuy: $4
- Number of Rebuys: 2425
- Prize Pool: $10,000
- Participant Count: 4132
- Winner: Olivia Burns
- Winner’s Share of The Prize Pool: $567
Below is a screenshot of the Results page containing the Leaderboard.