Saxo Bank’s Tour de Trading competition includes TV spots and Alberto Contador’s actual Tour de France bike.
In our latest in a series covering interesting and unique promotions in the forex trading world, we look this week at Saxo Bank, and its Tour de Trading promotion. Even among die hard cyclists and bicycle enthusiasts (including me!), pro cycling doesn’t seem to exist except for three weeks a year in July, when suddenly it comes to life and is in the spotlight every day — and worldwide, with all eyes on France. And Saxo Bank, a longtime backer of the Tour de France, is taking full advantage of its sponsorship of Team Saxo-Tinkoff, led by Alberto Contador, Tour winner in 2007 and 2009.
Saxo Bank is running a parallel Tour de Trading contest alongside the Tour de France, with a most-profit winner over the July 1-19 period taking first prize, the actual Tarmac SL4 bike used in the Tour de France by Alberto Contador. Other prizes include authentic Tour gear. While the monetary value of the prizes being offered are much less than those of some of the other promotions we have been reviewing (see below), the timeliness and things-you-can’t-get-anywhere-else type prizes are likely to gain the attention of a lot of sports-minded traders.
Note that the contest is a risk-free one, with trades happening in a demo account mode. As such, unlike several other contests we have covered (see below), Saxo Bank’s Tour de Trading seems to be aimed mainly at attracting new clients, rather than encouraging existing clients to trade more. Saxo Bank’s investment in TV spots being run promoting the contest seem to confirm that. (We should also note that Saxo Bank won two prizes at the 34th Annual Telly Awards for their SaxoCycling.com spots, taking Best Financial Services/Ba​nking and Best Sound/Sound Design bronze awards.)
Other Forex contests and promotions we have covered, as Forex industry brokers aim to diversify away from just handing out deposit bonuses to clients, include:
- FXTM swap-rate-free account promotion
- Miss Dukascopy $250,000 contest
- IronFX free Vegas trip contest
- Liquid Markets earn-bonus-interest promotion
For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.