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Admiral Markets ForexBall: How to Win the $541,000 Prize Pool

Feb 22 2013
Yesterday, we reported that Admiral Markets has announced the imminent launch of this year's ForexBall demo trading competition... but there was no information about the terms and conditions of participation. Well, now we're ready to give you the latest scoop on the yummy $541,000 prize pool, and what you need to do to win it.
The competition will start on February 25, 2013. You can already register at the website, and receive a notification as soon as the contest opens. The ForexBall will be running throughout the year, with one round every week. Each round will last from 10 AM GMT on Monday until 2 PM GMT on Friday. Every Monday morning, each contestant will receive $10,000 in their demo account and will have 100 hours to trade and turn it into profit (hence the ForexBall slogan "100 Hours of Trading”). 
Each week, contestants will be ranked according to the amount of profit they have generated. The ranking will be not only global, but also divisional – players will be split into five divisions according to the region they live in: Europe, Russia and the Commonwealth of Independent States (CIS), Latin America, Asia, and Rest of the World.
This divisional split is actually good news. Of the $541,000 Admiral Markets has allotted to the annual prize pool, $445,000 will go to the winners of the weekly rounds. However, the three top-ranking traders in each division will also get a weekly prize: $1,000 for the first place, $500 for the second place, and $250 for the third place. There is also a third prize pool for the three top earners of the month: $5,000, $2,000 and $1,000 respectively.
The contest will be carried out on the new website, which will also offer educational and social elements, to enhance the benefit from contest participation. The idea is to give traders an opportunity to educate themselves and improve their skills, not just make some dough. This will be done with the help of various articles, webinars, market analysis and news feeds. Contestants can use the site's forum to exchange ideas and strategies, communicate their ideas to others and share opinions. The ForexBall community will allow them to review each other's profiles and trading history. Hopefully, this will be especially useful for beginner traders, who can use the competition to hone their skills and learn from Forex veterans, without the risk of losing money. 
Admiral Markets Group Executive Vice President Dmitri Laush explains the reasoning behind this year's competition: “Most Forex contests simply stress the competitive aspect. But competing with each other alone rarely generates benefits for participants after the round has ended. With the ForexBall™, we created a more informative and interactive competition. The new ForexBall™ does not only run all year long, thus giving participants a chance to track their progress long-term. It also generates value for players beyond the actual competition, by providing a comprehensive education and information section, as well as many social features.”
So, now that we know all the details, all we can do is wait until February 25 and try our luck. Hopefully, the ForexBall will be as profitable and beneficial as Admiral Markets believe. If not, at least participants will have some harmless fun throughout the year. 

About the Admiral Markets Group

With 12,000 active clients and a total monthly trading volume of $35 billion, the Admiral Markets Group is a leading online Forex trading provider, as well as an emerging trading platform for precious metals, CFDs, stocks and fossil fuels. Since its foundation in 2001, the Admiral Markets Group has continually expanded its range and reach. In 2011 alone, the company experienced a growth of 70 percent. Today the Admiral Markets Group offers its services in 35 countries worldwide through its regulated trading companies, with Admiral Markets AS and Admiral Markets PTY holding licenses in the EU and Australia respectively. The company employs a staff of around 200 people globally. Recognizing its growth and success, the Admiral Markets Group was awarded the "Best FX Broker for the Baltic Region" and the "Best of the Best" Award by The New Europe magazine in 2012.


TAGS: admiral markets  forex trading  forexball  forex competition  trading competition  demo trading competition  demo competition 

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