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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 DailyFX.com.
TAGS: forex  forex trading  forex broker  forex account  mobile forex app  FXCM  TopTradr  trading contest  forex contest  prize pool 

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