Our team is thrilled to announce that our competition feature is now out and ready! Create and join trading competitions and compete against other Zunko users to test your skills and win exciting rewards!
Following the success of The Finance Club Traders Competition and the UOM Stock Masters Competition, we realised that this is something that you guys would love. While the two previously-mentioned competitions were curated by our team, the competition feature will allow every single one of you to create your own competitions with your preferred conditions. Without further ado, let’s explore this feature!
Types of Competitions
One major thing you can decide on for your competition is whether you want to make it public, private, or exclusive. [1]
Public Competition: Public competitions are open to all traders. They can just enter and start competing, and there are no requirements to access them.
Private Competition: Private competitions require that users enter a password to be able to participate. This password is provided by the organiser.
Exclusive Competition: For exclusive competitions, traders must request to join and the organiser has to approve or reject each request. In case the organiser admits someone in their exclusive competition by mistake, they can easily remove them.
Understanding the Competition Feature
As soon as you click on the competition icon, you get a tutorial on how to navigate the competition feature. You will find all the competitions that you are in, presented horizontally under “My Competitions” [2]. There’s also the “Join Competitions” section [3], which is presented vertically. When you click on “View Open Competitions” [4], you’ll see a list of competitions of all types. You can click on them and join. If they are private, you need to enter the password to be able to join, and if they are exclusive you will need to request to join and wait to be approved by the competition organiser.
There are 3 types of competition status: open, ongoing, and ended. Users should mandatorily enter a competition before it starts. Nobody can join an ongoing competition If you want to retrieve some data from ended competitions, you can find them in “My Competitions.” [5]. You can then delete the competitions that ended from your list if you so choose [6].
Leaderboards are available for all competitions. You will be able to see everybody’s performance for “Today”, “This Week’’, and “All Time” [7]. You can also see whether your rank has increased or decreased and how much money you have gained or lost.
How to Create a Competition
When you go to “Create Competition,” [8] you must select the type of competition you want (public, private, or exclusive) [9]. You should also provide a name and description for the competition [10]. Then, you must enter several details or conditions that you want your competition to have. Some examples of these details are the start and end date, the minimum and maximum trades per day, the number of participants, whether you want to enable trading after the market is closed, whether you want to be listed as a participant or not, among many others [11]. All these details can be viewed when you click on the “View Details” section of a competition [12].
Not Much of an Organiser
If you only want to practise your trading skills without the hassle of creating your own competitions, we got you covered. We will always have one or more ongoing competitions curated by our team, where you can just drop in and start trading. These competitions are public and tailored according to different traders’ preferences [13].
Day Trading Pros Competition: This monthly competition is for those who thrive on the adrenaline rush of short-term trading.
Swing Trading Aces Competition: This competition repeats itself every 3 months and is designed for those looking to capture short to medium-term price movements.
Position Trading Masters Competition: This competition repeats itself every 6 months and is designed for traders who have a long-term view of the market.
Note: You don’t necessarily have to be a day, swing, or position trader to join these competitions. Any type of trader is welcome to practise their trading skills.
Trading During Competitions
While competing, you can trade like you usually do when you are not in any competitions. The only difference is that you can trade with your main and competition portfolios simultaneously. However, you can also choose to trade with separate portfolios [14]. To view your different portfolios, you can just swipe left [15] on your main portfolio to access your competition portfolios.
Note: An important detail that traders should know is that competitions will be available solely in simulated trading mode, even after the app goes live.
Now you guys are all set to make the most out of the competition feature. Until next time, friends!