is the hfm demo contest worth the try?

Honestly I don't think its worth the stress because the prize money cannot be withdrawn you have to trade at least 10 standard lots with the prize money before you are allowed to withdraw it.

In other words, the reward for winning the hfm demo contest is technically a no deposit bonus which cant be withdrawn and which you must trade with again and only withdraw any realized profits.

First of all I hope you haven't won any previous hfm contest because if you have then you will be disqualified from participating in this hfm demo contest.

At the start of the contest your contest account will have $10,000 virtual money in it

After the contest ends (it starts & ends every month) your profit will be calculated using a formula ((end balance - start balance)/start balance) x100

So if at the end the formula calculates that you have maybe a 400% balance, your trading account will be credited with 400% of $10,000 which means $40,000 but this demo contest prize money cannot be withdrawn, only the profits you realize from trading at least 10 standard lots with it can be withdrawn

Its worth the try if you want to experience what competing amongst other traders is like. What I do not like about it is them saying if you have won before you cannot win again.

I mean they start you with a $10k funded demo account and you must trade and make profit within one month before they close the account.

The top 3 winners get a physical prize and some form of recognition while the others who were able to make a profit, have it converted to a non-withdrawable bonus and credited to their real account.

They must then trade a given number of lots and make profit and then they are only allowed to withdraw the profit.

nah! i think you should spend your energy trading for yourself instead of participating in simulated capital contests which can be manipulated easily by the broker.