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Claim a Share of $59,000 Prize Pool in FXCM Freestyle App Challenge

Less than a month after it announced its project for start-up projects financing, FXCM VenturesFXCM is starting a new exciting initiative: the Forex Freestyle App Challenge.  
 
Any US citizen who can write code in C++, .NET or Java can enter the challenge and come up with an app. It could be a trading platform, a game, an educational app, etc. – the only requirement is for the application to be connected to forex, and to be built on the ForexConnect API. The apps should be developed for Android, iOS, Windows, Windows Mobile or Mac devices. 
 
“The ForexConnect API offers the same functionality of the award winning FXCM Trading Station platform,” said Sameer Bhopale, chief marketing officer of FXCM. “This includes all of the available order entry types, managing your positions, downloading historical instrument rates, getting account reports, rates, and more. ForexConnect makes it possible to develop rich applications that extend the functionality of the FXCM Trading Station.”
 
The contest entries will be judged by a panel of forex professionals: Evan Milazzo, EVP of Technology at FXCM; Claudio Flores, Team Lead for Programming Services at FXCM; Matt Harris, Managing Director of Bain Capital Ventures; and Howard Lindzon, Co-founder and CEO of StockTwits & Managing Partner of Social Leverage. 
 
Along with the no-cash Large Organization Recognition Award, a prize pool of $59,000 will be distributed to the winners of the challenge: 
 
- Grand Prize: $25,000
- Second Prize: $10,000
- Third Prize: $8,000
- Best Game: $5,000
- Best Educational App: $5,000
- Best Mobile Trading App: $5,000
- Popular Choice: $1,000
 
The applications for the Forex Freestyle App Challenge must be submitted between 10:00 am EST on October 4, 2012, and 5:00 pm EST on January 24, 2013. 
 
If you have an awesome application idea but you don’t know anything about programming, you can take part in another initiative that runs simultaneously with the app contest: the Forex Freestyle Ideas Challenge. In it participants can submit ideas for forex apps they want to see created and 10 ideas will be rewarded with a $100 cash prize each. 
 
Personally, I admire any company willing to take advantage of its customers – after all, nobody knows what they need better than the end customer. I am positive that the ideas and applications, which the two challenges will generate, will be really awesome and useful for all of the broker’s clients. Kudos, FXCM! 
 
And while the general public is working on business development ideas with the challenges, FXCM is doing some diversification itself: the company has filed a shelf registration statement with the United States Securities and Exchange Commission, which – if approved – will allow FXCM to access the public capital markets in order to respond to business opportunities. In other words, the broker will be able to offer and sell up to $125 million of securities – for example Class A common stock, preferred stock, senior, subordinated or convertible debt securities, depositary shares, purchase contracts, warrants and units, etc. 
 
For the time being FXCM doesn’t plan to take advantage of this, but the approval of the registration statement will give the company the boy scout edge (“Always be prepared!”). "The purpose of this shelf registration statement is to provide us with optimal flexibility to fund general corporate activities, which could include the financing of acquisitions and investments," said Drew Niv, Chairman and Chief Executive Officer of FXCM.
 
About FXCM
 
FXCM is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers world-wide.
 
At the heart of FXCM's client offering is No Dealing Desk forex trading. Clients benefit from FXCM's 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 U.K. subsidiary, Forex Capital Markets Limited, also offers CFD products with no re-quote trading and allows clients to trade oil, gold, silver and stock indices along with forex on one platform. In addition, FXCM offers educational courses on forex trading and provides free news and market research through DailyFX.com.
TAGS: fxcm  forex app  forex trading app  forex freestyle app challenge  C++  .NET  Java 

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