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The Biggest Winner contest provides an engaging and risk-free platform for Canadian participants to hone their trading skills while competing for substantial cash prizes. This year marks a significant milestone, as the contest has expanded to include all ETFs listed on the Toronto Stock Exchange (TSX) and Cboe Canada, providing a broader range of trading opportunities.
Participants start with a virtual balance of $100,000 and can trade any ETF listed on the TSX or Cboe Canada within this simulated environment. The contest entry is free, requiring no financial commitment, making it accessible to a wide audience eager to test their trading strategies and skills.
Rohit Mehta, President & CEO of Global X, expressed enthusiasm about the expanded competition, stating, "This is a milestone year for the Biggest Winner as we've expanded the competition to include all ETFs listed in Canada! With more than $24,000 in cash and gift cards available to be won, there's never been a better time to test your skills and become our next Biggest Winner."
The contest runs for six weeks, beginning today and concluding at 4 p.m. Eastern on October 25, 2024. The top prize of $10,000 will be awarded to the participant who achieves the highest cumulative return over the six-week period. Additionally, a second-place prize of $5,000 will be awarded, and six weekly prizes of $1,000 each will be given to the participants with the best single-week returns.
In addition to these prizes, the Biggest Winner will feature a random weekly draw for those who execute three or more trades during the preceding week. One lucky participant each week will receive a $100 Amazon gift card.
Claude-Frédéric Robert, President at National Bank Direct Brokerage (TSX:NA) highlighted the value of the contest, saying, "We are proud to have supported 'The Biggest Winner' contest for several years. As exchange-traded funds gain popularity, this contest offers a valuable opportunity for individuals to test strategies and explore innovative approaches in a controlled environment."
The Toronto Stock Exchange (TSX) also expressed support for the competition. Graham Mackenzie, Managing Director of Exchange Traded Products at TSX, noted, "Toronto Stock Exchange is pleased to support Global X's Biggest Winner Trading Competition, which promotes the adoption and education of ETFs in Canada. We are committed to partnering with clients to provide educational opportunities that enhance understanding of this unique investment vehicle."
Since its inception, the Biggest Winner competition has engaged approximately 25,000 participants and awarded around $175,000 in cash prizes. This ongoing initiative underscores the commitment to fostering trading skills and financial literacy within Canada’s investment community
