Traders have until November 16 to enter the Leveraged $500K Competition, a free trading contest offering four winners a combined $500,000 in Turbo Trade Rewards accounts. With no entry fee and no profit target, the competition gives participants an opportunity to demonstrate their trading skills on a $200K demo account without paying for a traditional evaluation.
The format is particularly interesting for traders who want access to a larger rewards account but prefer to avoid the upfront costs and evaluation requirements associated with conventional prop firm challenges.
Leveraged $500K Competition: Entry Rules and Prizes
Leveraged has confirmed that registration closes on Monday, November 16. Participants receive access to a $200,000 demo account and have three days to compete. There is no entry fee and, according to the announcement, no profit target to achieve.
The four available prizes are:
- 1st place: $200,000 Turbo Trade Rewards account
- 2nd place: $150,000 Turbo Trade Rewards account
- 3rd place: $100,000 Turbo Trade Rewards account
- 4th place: $50,000 Turbo Trade Rewards account
A key distinction is that winners will not need to complete an additional evaluation before receiving their rewards accounts. This removes a conventional hurdle between winning the competition and accessing the next stage of the firm’s funding model.
Why the Competition Format Matters for Traders
The absence of a profit target changes the competitive dynamic. Rather than working towards a predefined percentage gain, participants can focus on their overall trading performance during the three-day period. However, traders should still check the official competition rules for ranking criteria, drawdown limits, and any restrictions on trading activity.
The short competition window also introduces a psychological challenge. Three days leave limited room to recover from poor decisions, potentially rewarding traders who can maintain discipline rather than chase aggressive returns. Participants should establish their risk limits before trading instead of treating the contest as an opportunity to take excessive positions.
There is also a clear accessibility advantage. Traditional funding programs require traders to pay for an evaluation or demonstrate profitability through multiple stages. Leveraged is using a free competition to offer an alternative entry route, while the four prize tiers give more than one participant an opportunity to secure a rewards account.
A Direct Route to Leveraged Rewards Accounts
Leveraged already offers several funding structures, including Turbo Trade, Sprint, Classic, and One Challenge programs. Its Turbo Trade model uses a Pay After You Pass structure, while the competition introduces a separate opportunity to access Turbo Trade Rewards accounts without completing an evaluation.
For traders, the distinction between winning an account and generating withdrawable rewards remains important. The competition announcement does not specify the full trading conditions or payout requirements attached to each prize. Reviewing those terms before registration will help participants understand what happens after the contest ends.
With registration closing on November 16, interested traders have limited time to secure their place.
Looking for more opportunities? Check Forex Prop Reviews’ Leveraged review for a detailed breakdown of its funding programs and use code FOREXPROPREVIEWS to receive an additional 5% discount on eligible purchases.
