By Kiana Danial Published: February 24, 2011 Thursday, February 24, 2011âFXCM Inc. (NYSE: FXCM) an online provider of forex trading and related services worldwide, announced the winners of its King of the Micro Contest for January. FXCM Inc. gives away cash awards every month to three Micro clients with the highest returns on their trades. All FXCM Micro clients with a minimum of $500 in their account at the beginning of the month are automatically entered in the contest. To remain eligible, they must execute a minimum of ten trades during the month. January was an eventful month for the forex traders as China continued to tighten monetary policy in order to prevent the economy from overheating, while the EU was weighing alternative measures to address the sovereign debt crisis. At the same time, we saw the rally in the British pound gathering pace. Read below to learn how the traders reached the top of the leader board and what set apart the one crowned King of the Micro from the rest amid the reversal in the DXY (US Dollar Index). January King of the Micro Gains a High Profit of 1181.58%*, Wins $25,000. Madhusudhana Vasireddi from India achieved an impressive 1181.58% return. With two years experience in forex trading, Madhusudhana kept trades open from a few minutes to a maximum of five days mostly on the GBP/JPY, GBP/USD, and AUD/USD trades. Trading Experience: 2 years Preferred Trading Pairs: GBP/USD GBP/JPY AUD/USD Average Trade Holds: Min of few minutes, max of 5 days Average Daily Trading: 3 to 5 hours Key for Success: Controlling his emotions Read the January Kingâs full survey and trading report on Dailyfx.com/press SECOND PRIZE: Hongwei Gu from China sees 707.96%* profit, wins $10,000. Trading Experience: 4 years Preferred Trading Pairs: AUD pairs Average Trade Holds: Min of 1 to 2 days or longer Average Daily Trading: 3 to 4 hours Key for Success: Being rigorous, bold, and decisive Read the second prize winnerâs full survey and trading report on Dailyfx.com/press THIRD PRIZE: Chung Kai Chan from Hong Kong sees 304.41%* profit, wins $5,000. Trading Experience: 1 year Preferred Trading Pairs: GBP/USD, AUD/JYP, GBP/JYP, GBP/CHF Average Trade Holds: Min of 1 day to max of few weeks Average Daily Trading: 1 hour Key for Success: Read extensively and think carefully Read the third prize winnerâs full survey and trading report on Dailyfx.com/press To learn more about the contest, and to deposit money into your FXCM Micro account, view the King of the Micro Monthly Trading Contest Rules. About FXCM FXCM Inc. (NYSE: FXCM) is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers worldwide. At the heart of FXCM's client offering is No Dealing Desk forex trading. Clients benefit from FXCMâs large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution, and trading from real-time charts. FXCM's UK subsidiary, Forex Capital Markets Limited, also offers CFD products with no re-quote trading and allows clients to trade forex, oil, gold, silver, and stock indices on one platform. In addition, FXCM offers educational courses on forex trading and provides free news and market research through DailyFX.com. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Any opinions, analyses, or other information contained is provided as general market commentary, and does not constitute investment advice. Read full risk disclaimer. * Past performance not indicative of future results.