Competitive trading is a very important part of trader's experience from the beginning. It gives you some knowledge of the most profitable trading strategies on FX market.
Taking part in the competition you can test any of your own high risk strategies without risking to lose real money.
And if you are the most successful trader and can maintain the highest percentage within one trading week on Forex, you will be granted money you need to open a real account and make a real deal.
The registration is easy and requires your real name, country you represent and your e-mail. You can do this when you launch your Dealing Desk Client Application where you have to insert log-in name and password, mark the box "take part in competition" and push "submit form" button.
Within a couple of seconds the system will generate a number of your account and authorize access to the system.
After that, you reach the "welcome page" of your account.
Your starting marginal capital (beginning balance) will be $2500
Your main goal is to increase this capital as much as you can during a competition session.
The competition session starts at 00:00 GMT on Monday, and continues through the whole week till 7:00PM GMT on Friday.
You can see your current trading position on the competition rating list at any time.
The positions on the competition rating list are distributed according to the following principle: first position is occupied by a trader who showed a most profitable percentage in ratio between beginning and current balances. Naturally, all other positions are listed according to their profitability ratio.
When the competition session is finished, all records of the winner's trading activities will be published on our archive list of winners. He or she, then, can open a real trading account where we will transfer initial funds (the competition bonus).
All others, who was not as successful, can take part in a new session and try once again to be the first. In this case you can use current registered competitive account, without opening a new one.
But if you don't make any deal during the whole session, your account will be automatically deleted from rating list for the next competition.
In between sessions you will be able to increase or decrease your beginning balance with which you plan to start a new session. You can do this the same way that real players do, by choosing "deposit" or "withdraw" from the "real account" menu.
When competition starts, the access to this function will be closed to you.
You can use only one account during the competition and have to make at least 50% profit of the beginning balance. Otherwise you will be disqualified.
If you once won the bonus, you can use the bonus in real trading or withdraw or you can take part in competition for next time, but in this case, you will have no pretensions to receive the bonus twice. In this case the bonus will be transmitted to second position of competition's rating.
What is mini forex?
A mini forex trading account allows using 10,000 units of base currency as a trading lot. One pip is nearly $1. Mini forex trading accounts require a relatively small amount of upfront capital to get started. Account can be opened with as little as $100.More ...