One of the most common types of forex contests is a contest where the aim is to reach the highest profit in the contest. For example, there might be a forex contest with 100 participants. Whoever earns the highest profit in the given timeframe will win the first prize. Other participants finishing in top positions will win prizes as well.
There are also forex contests where the aim is to earn as much points as possible. In this scenario, points are awarded depending on the number of lots a trader trades on a given month.
When you enter a forex contest as a ForexTown member, you will automatically take part in a forex cashback offer at the broker you trade at. There is also a good chance that the broker you choose to trade at offers a forex bonus.