de | cn | ru

Brokers News

Manage a $1 Million Forex Portfolio at FXCM with TopTradr's Live Contest

We have some great news for FXCM traders: the broker is launching a trading contest together with the TopTradr app. The prize? A million dollar hedge fund. 

But first things first – let's give you a bit of a background about TopTradr. The company offers an iPhone and Android app that is designed to work with FXCM trading accounts. Once linked, the app derives data about the user's trading activity, and builds his/her profile. What the app focuses on is the risk/reward ratio of traders, and ranks them on this basis. In simple words, the TopTradr app creates a leaderboard of the traders who perform consistently well, employing sensible trading strategies and proper risk management. 
The learning factor is also implemented in the app – users can follow each other and see how the others are trading, thus learning from the best. 
To spice things up, TopTradr offers three kinds of contests: a monthly one, a university challenge, and the $1,000,000 contest that we want to tell you about. 
The contest will begin as soon as 5,000 traders have signed up for it – one that happens, TopTradr will make an official announcement and participants will then have six months to prove their skills. The winner will receive one million dollars in a live FXCM account to manage. 
The conditions for taking part in the contest are to hold a live account with the brokerage, to link it to TopTradr (this can happen straight from the app, or from TopTradr's homepage if you don't have a smart phone), and to register for the competition. 
The winner will be determined based on the amount of experience points they have at the end of the contest. Experience points are awarded based on the user's risk/reward ratio and their percentage performances. These points are then being factored in together with the consistency of returns, and the increase of the account equity, and the end of each day, contest participants get a multiplier applied to the number of points they have accrued. This is how each user will be getting their TopTradr score
In the meantime, a sub-contests will run every week: TopTradr scores will be reviewed every Friday, and the traders with the best results will be sharing a weekly prize pool of $7,500. The weekly contests have already begun and the first $7.5K will be distributed on July 22.
It is refreshing to see a live trading contest that aims at honing real skills – other competitions usually only look at account equities to pick their winners and while there's nothing wrong with that, it is often that traders score a lucky trade or few to make some quick money and claim a contest prize. Here, participants won't be able to rely on high leverage or luck to generate massive profits, and will have to really prove themselves worthy as top traders. 

About TopTradr

TopTradr brings you all the elements you love about trading and takes it to the next level.
Providing you with the opportunity to copy trades, follow the best performers, share the best tips, collect the most points and earn from your social trading network. Trade FX and other indices using the celebrated FXCM Trading. 

About FXCM Inc.

FXCM Inc. (NYSE: 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
TAGS: forex  forex trading  forex broker  forex account  mobile forex app  FXCM  TopTradr  trading contest  forex contest  prize pool 

More news about FXCM

Broker Country Regulation Platform Min Deposit Review
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, IFSC MT4, MT5, Web $10 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5,
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
Australia ASIC MT4, MT5 $100 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

More Forex Brokers News

FXTM appoints Han Tan as a Market Analyst for Southeast Asia region

Apr 19 2019 13:28:36

  Global award-winning forex broker FXTM has just announced the appointment of Tan Chung Han (Han Tan) as a Market Analyst. Read more

FXTM gets a license from Mauritius’ FSC

Mar 28 2019 09:59:36

  Award-winning forex brokerage  FXTM (ForexTime) continues its ongoing global expansion. The broker announced it has acquired a license from the Financial Services Commission (FSC) of the Republic of Mauritius previous week. Read more

Fortrade is the first broker to get an ASIC license in nearly 2 years

Mar 20 2019 15:03:35

  Fortrade acquired a financial services license from the Australian Securities and Investments Commission (ASIC), which hasn’t been very welcoming of new retail forex broker applicants lately. Read more

FP Markets launches a suite of cutting-edge MT4 tools for traders

Mar 06 2019 14:31:42

  FP Markets, a market-leading Forex and CFD provider, launches MT4 Trader Toolbox, a suite of twelve online trading tools which will take their clients’ trading to the next level. Read more

Major broker IG launched its US website

Jan 31 2019 13:15:37

  Global brokerage IG launched its website intended for US retail clients ( Residents of the US (with the exception of those in Arizona or Ohio) can now register on the broker’s website in less than 5 minutes and start trading. Read more announced important updates to its Web Trading platform

Jan 25 2019 15:13:43

  Major forex brokerage  proudly announced important updates of its in-house Web Trading platform, which will take your trading experience to the next level.   Accessible from all browsers and operating systems, Web Trading was launched in 2017. Read more

HotForex parent gets licensed by UK’s FCA

Jan 21 2019 12:31:59

  Less than a month after HotForex acquired license to operate in the UAE, the trading services provider gets an authorization by the Financial Conduct Authority of the UK. The UK subsidiary of the HF Markets Group, HF Markets (UK) Ltd. Read more

Rakuten Securities offers HK$700 prepaid cards as a welcome gift

Jan 18 2019 10:26:57

  Hong Kong forex broker Rakuten Securities offers up to HK$700 Spending Limit Prepaid Card as a welcome gift to new account registrants. Here are all the details you need to know about the company’s promotional offer, which is valid from now until the end of March 2019. Read more

XM applies for a forex dealer license in the US

Jan 11 2019 13:39:14

  The US subsidiary of major forex brokerage XM has applied for a membership with the National Futures Association (NFA). This became clear from a filing by the broker’s US entity Markets Inc. (previously Trading Point US Inc.) with the NFA dated January 3, 2019. Read more

HotForex acquired DFSA license, commences operations in the UAE

Jan 08 2019 10:45:37

  HotForex is now licensed by the Dubai Financial Services Authority (DFSA) and announced it commences operations in the United Arab Emirates (UAE). The Dubai arm of the HF Markets Group, HF Markets (DIFC) Ltd., acquired the DFSA license in December last year. Read more

de | cn | ru