Joel Couture from Lévis, Que., is the grand prize winner of the Horizons ETFs Biggest Winner 8 Trading Competition with the highest six-week cumulative return of 16.26%, Toronto-based Horizons ETFs Management (Canada) Inc. announced on Tuesday.
Couture has been awarded a cash prize of $7,500. In total, Horizons ETFs awarded $13,000 in prizes.
The competition, which ran from May 7 to June 15, had more than 1,500 registrants. Contestants opened a fantasy brokerage account, which began with a balance of $100,000 in notional Canadian dollars. Competitors used these fantasy funds to place simulated trades among approximately 600 ETFs listed on the Toronto Stock Exchange.
Italo Silva, from Scarborough, Ontario, won $2,500 for having the second-highest six-week cumulative return of 11.31%. In addition, six weekly prizes of $500 were awarded to each of those who achieved the best single-week returns.
National Bank Direct Brokerage has been the exclusive sponsor of the Biggest Winner Competition for the past seven editions.