Traders are currently locked in battle as they fight for supremacy in international forex broker ForexTime’s two live trading competitions
. Traders wanting to get involved in the fierce competition have until April 10th to register and join in on the chance to win top prizes worth $10,000.
Both trading competitions are intended to encourage traders to test their trading strategies and sharpen their skills in a live trading environment. With two different competitions running simultaneously, one for traders new to forex and another more suited to those entrants with some investment experience, there is a challenge posed for everyone. Getting involved is easy with an entry fee starting at just $25 and a total prize pool of $35,000.
Olga Rybalkina, CEO of ForexTime, said: “We've launched these live trading competitions in order to challenge our traders and encourage them to carefully plan and execute their trading strategies in a competitive environment. To our great delight, both competitions have been met with worldwide success and popularity.”
In addition to the competition prizes for the traders with the highest profit and loss (P&L), the traders who execute the most successful trading strategies will be invited to become Strategy Providers for ForexTime, where they will be compensated for each successful strategy they provide. Adding a fun twist to the contests, ForexTime has also introduced the "Most Popular Trader" award where the public can vote for their favorite trader on the ForexTime website. The winner will be able to withdraw 50% of their earnings if they're in the top movers or choose to get $50 credit, while the voters will enter a prize draw to win a pack of branded FXTM goodies.
“Understanding the forex market and having a clear trading strategy is critical to being a successful forex trader,” said Ms Rybalkina. “The aim of our competitions is to encourage traders to put their strategies to the test in a fun and exciting environment, under real trading conditions. By trading with live accounts rather than demo accounts, traders will not only be rewarded with the profits from their successful trades, but they will also be in with the chance of winning one of our valuable prizes.”
Registrations are open until April 10th with the competitions running until April 15th. To join, you simply need to register online or if you’re already a registered client, just log in to your MyFXTM account and click on The Forex Factor tab.
Risk Warning: There is a high level of risk involved with trading leveraged products such as forex and CFDs. You should not risk more than you can afford to lose, it is possible that you may lose more than your initial investment. You should not trade unless you fully understand the true extent of your exposure to the risk of loss. When trading, you must always take into consideration your level of experience. If the risks involved seem unclear to you, please seek independent financial advice.