New YorkâMarch 2010âFXCM Microâs monthly currency trading contest starts on Thursday April 1st, 2010. $25,000 in cash is awarded to the trader with the highest monthly trading return, $10,000 is awarded for second, and $5,000 for third place. FXCM Micro wants you to be the King! To read the 1st, 2nd and 3rd place winnerâs questionnaire on how they won the contest, go here: http://forexforums.dailyfx.com/king...ading/161290-king-micro-feb-2010-results.html Zhai Zhuobin, last monthâs winner, placed 10 trades in February with the majority in the USD/JPY pair and earned a staggering 1129.72% return*. The popular currency-trading contest has been running for over four years, and itâs free to enter. King of the Micro is available to clients all around the world. Recent winners have come from the United States, China, Malaysia, Canada, and the United Kingdom. There is no registration needed, and the requirements are simple: all FXCM Micro clients with $500 in their Micro account at the beginning of the month are automatically entered. And traders must make at least ten trades during the month. Traders may open an FXCM Micro currency trading account with as little as $25. All FXCM Micro clients receive free buy and sell trading signals through DailyFX+, complete with blue buy arrows to buy and red arrows to sell. For more information on the King of the Micro contest, to read the full contest rules, and to deposit money into your FXCM Micro account, go here: http://www.forexmicrolot.com/king-micro-trading-contest.jsp?CMP=PR-King FXCM Micro is a division of FXCM that provides new traders with access to the currency markets for as little as $25. With a small (1K) lot size, FXCM Micro provides a great way to get started in the forex market. FXCM Micro is offered for individual, self-traded accounts. All participants of the King of the Micro contest can receive the FXCM Power Course free to improve their chances to be the King. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. About FXCM Holdings LLC Forex Capital Markets (FXCM) is a leading global forex broker that caters to both retail and institutional markets. Founded in 1999, FXCM is one of the largest brokers, regulated by several of the worldâs most respected financial authorities. At the heart of FXCMâs client offering is No Dealing Deskâ forex trading, FXCM offers 24-hour online forex and CFD trading with no re-quotes. Clients have Direct Market Access to some of the world's largest forex liquidity providers, enabling FXCM to offer clients spread as low as 1 pip on major crosses. Clients also have the benefits of mobile trading, one-click order execution and trading from real-time charts. FXCMâs CFD product* allows traders to trade oil, gold, silver and stock indices, along with forex on one platform. In addition to currency and CFD trading, FXCM offers educational courses on forex trading, and provides free news and research through DailyFX.com. Press Contact: Jaclyn Sales E-mail: jsales@fxcm.com Phone: 1 646 432 2463
Take a look at the first place winners trading report. Made only 11 trades during the month of February to secure first place with +1100% gain. Traded USD/JPY almost exclusively and held the trades open for 1 day+ in most cases. Here's the trading report http://learncurrencytrading.com/Micro/KOM/FebKOM/first.pdf
Is this one of those deals where you already have to be a client and have at least $500 in the account when FXCM does not even accept clients from Quebec, Canada? If it was a demo account yes, but gambling real money in an aggressive contest, no.
FXCM accepts clients from Quebec as long as you meet the accredited investor status required by Quebec regulations. Just making an observation of best practices from the trading history . The winner didn't overtrade aggressively and held onto trades when many traders tend to exit with small profits. What do you think of the winners trading history?
Well, the reason I prefer demo account contests is because it allows you to test new ideas you have in a more aggressive way. In a trading contest, you're more likely to "push yourself" more. While in a trading contest with real money, then you have to sort of restrain yourself and go with safe ideas rather than experiment and push hard.