Anyone planning on trading in that championship? http://www.cmsfx.com/en/my-account/open-free-practice-account/ultimate-forex-championship/ Is there a catch? How good is CMS altogether? Currently I am on FXCM micro but I will definitely outgrow the "micro" account and will gravitate toward a broker with 100K standard lots.
They should really use some sort of risk-adjusted performance metric, like modified sharpe or something similar, for these competitions instead of plain PnL. Typically, the winner makes a 200% or 300% roi or some such. You have to go full throttle in order to win such contests, win it all or, more likely, blow the account. Its basically lotto. If you produce 'sane' returns, you stand no chance.