Many new traders have the same question – what should they begin with while trading in the Forex? We offer you to start with participation in Forex-contests. For example, lots of free competitions with great prizes are regularly held at ForexCup.com. These contests are rather unique, because they will not only help you to understand the basics of Forex, but also to get your first capital and then use it while trading in the real account.
More than 4 thousand traders have already got benefits from ForexCup competitions. Everybody can try to win. And the prize is worth doing it! Each month the best trader gets the post of PAMM ECN account manager and is able to work with FXOpen broker.
The task for participants is rather easy. On the 1st day of competition everyone gets a start-up capital of $5000. And then you have to increase it while trading in the Forex Market. The trader with the biggest income will become a winner. Remember, that everybody can get a real cash bonus after 5 days of trading – all you have to do is to increase your start-up sum on more than 80%.
The registration will be ended at July, 22
Days of competition: July, 23-27, 2012
The terms of the competition:
• Participation is free
• You will get a start-up deposit of $5000 and a leverage of 1:100
• Currency pairs: 28
• Lots from 0.1 up to 1
• Maximum number of orders (including delays): 3
• Minimum number of participants: 50
• Advisors are prohibited.
There are 5 prizes!
• 1st place - $200
• 2nd place - $100
• 3rd place - $60
• 4th place - $24
• 5th place - $16.
Registration
(you must be logged in with your registered e-mail and MyFXOpen password)
Participant’s Guide
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Go to Open a Live Account , choose the “Personal” account type and fill out the form to receive login details for www.forexcup.com (more...);
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Go to Open micro trading account, on which your bonuses and prizes will be transferred.
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Log on to www.forexcup.com with your registered e-mail and the
MyFXOpen password (the details you received after the registration);
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Join a ForexCup competition;
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Download and install the Meta Trader 4 trading terminal (download);
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Run Meta Trader 4 on your computer;
- Select File > Login in the Meta Trader 4 and enter the number and trader’s password for your ForexCup competition demo account.
How to Join a Competition
1. Log on to your personal area on www.forexcup.com with your registered e-mail and MyFXOpen password
2. It's necessary to specify your trading account, on which your bonuses and prizes will be transferred. This feature allows you to start trading on Forex with real money instantly after competition finish.
3. Click this link
4. Scroll the page down to find the Members list. Click Add me + to add yourself on the list. Then click OK.
5. Scroll a little bit up and click Save and Accept to confirm your choice.
6. After successful confirmation, you will receive an e-mail with your MT4 login details: login number, password and trading server address.
Good Luck!
Should you have any questions, feel free to contact us by e-mail (support@fxopen.com) or use FXOpen Live Chat to get immediate assistance.
Bonus Terms:
The bonus payable to a trader’s real trading account is equal to one percent (1%) of the profit gained.
For example, if a trader earns $ 5000, a $ 50 bonus will be deposited to his account.
However, there are some limitations:
- The amount of bonus for one trader cannot exceed $ 100;
- Bonus can be withdrawn via any payment system available at FXOpen after making 20 trades (minimum of 10 minutes per trade). You can withdraw the bonus after 30 calendar days since the date it was paid to you. Before withdrawing the bonus you must make at leat 1 forum post in the ForexCup Competition thread in our Forum.
The total amount of all bonuses in the competition cannot exceed $ 1 100. If the budget is exceeded we will reduce the bonuses based on the difference between the actual sum of all bonuses and our budget.
For example, if at the end of the competition the sum of all bonuses payable to all traders is $ 1 500, the total sum of bonuses will be reduced by $ 400 ($ 1500 - $ 1100 = $ 400).
The formula for bonus calculation:
Bonus = (1% of profit) * Planned Budget / Actual Budget, where
Profit - the actual profit earned by particular trader
Planned Budget = it is $ 1 100 for this particular competition
Actual Budget = the sum of all bonuses payable to all traders at the end of the competition
* Prizes can be withdrawn at any time, in other words, after receiving prize money to your trading account, you can withdraw it through any payment system available at FXOpen, but bonuses can be withdrawn once you complete the requirements described above.
Prize ≠ Bonus (prize and bonus are two different concepts)
Important Notice:
We would like to let you know that we have a new conditions in ForexCup terms. Before withdrawing your ForexCup prize or bonus you need to make at least one post on our forum http://forum.fxopen.com. This should be a comment on the competition where you took part. Please, tell us which place you took, how much money you received as a prize and leave a general comment about the contest (describe your thoughts and emotions, tell if it was easy to get the prize, share your plans on the prize, let us know what you think about ForexCup, whether you are planning to take part in new competitions or not).
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