Horizons ETFs Management (Canada) Inc. and National Bank Direct Brokerage (NBDB) Tuesday announced the launch of the fourth edition of the Biggest Winner Trading Competition, a simulated investment contest that provides Canadian investors with the opportunity to learn about exchange traded funds (ETFs) in a risk-free environment and to compete for cash prizes.
Eligible registrants may open a fantasy brokerage account, which begins with a balance of $100,000 in notional Canadian dollars (no actual money will be traded). Registrants can then use these fantasy funds to make simulated purchases and sales, of the 70 ETFs offered in Canada by Horizons ETFs and its affiliates, at any time, throughout the regular trading day.
Starting at 9:30 a.m. ET on May 20, the Biggest Winner Trading Competition will run for six weeks until 16:00 p.m. ET on June 27. There will be a grand prize of $7,500 for the competitor with the highest six-week cumulative return. The runner-up will be awarded $2,500; in addition, six weekly prizes of $500 will be awarded to each of the best single week returns.
“The goal of this competition is education, and there is no better tool for teaching investors how ETFs work then by letting them buy and sell ETFs in a real-time simulated brokerage account,” said Howard Atkinson, president of Horizons ETFs, in a release.
“With about 65 per cent of the contestants in Biggest Winner 3 having never traded ETFs before, it’s clear our simulated low-cost and risk-free competition is reaching the broader investing public and advancing their understanding of ETFs,” he said.
NBDB will once again be the exclusive sponsor of this year’s competition.
The full contest rules and details, registration forms and ETF educational materials, are available on the Biggest Winner website.