Horizons ETFs Management (Canada) and National Bank Direct Brokerage (NBDB) have launched 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 CAD100,000 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 am EST on 20 May 2014, the Biggest Winner Trading Competition will run for six weeks until 4:00 pm EST on 27 June 2014. There will be a grand prize of CAD7,500 for the competitor with the highest six-week cumulative return. The runner-up will be awarded CAD2,500; in addition, six weekly prizes of CAD500 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,” says Howard Atkinson, president of Horizons ETFs. “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.”
Nearly 4,000 Canadians participated in the previous three Biggest Winner Trading Competitions. NBDB will once again be the exclusive sponsor of this year’s competition.
“We are pleased to watch this competition expand its reach in investor education year-over-year,” says Nancy Paquet, NBDB president. “If you want to be even more prepared, NBDB offers seminars and webinars on different types of investments, including ETFs.”