Of course awards are proof of trustworthiness.

I may be wrong and I admit it, but it seems to me that contests in which brokers take part are more than just some insignificant event.

It seems to me that those organizations that hold contests try to increase their credibility. It is quite obvious. They try to make their competitions more prestigious and more authoritative. And to increase their authority it is necessary that more reputable brokers take part in these competitions.

Just imagine how the prestige of some racing competition will increase if Max Verstapen, for example, takes part in it. It is the same with brokers' contests.

That's why organizations holding such contests try to invite only reputable ones to participate.

And the victory in such a competition confirms not only reliability but also favorable trading conditions.

Probably so. But for me the desire to provide multiple regulations speaks more about the broker's reliability and trustworthiness.