Join FXCM’s Monthly trading contest for a chance to win cash prizes or FXCM Apps Coupons!
Contest Overview
| Contest Sponsor |  (FXCM) |
|---|---|
| Prizes | Cash prizes or FXCM Apps Coupons |
| Interval | Every month |
| Contest Period | until March 31, 2021 |
How to participate
You need to open an account, deposit at least 500 USD, and trade at least 10 positions.
FXCM Africa Forex Trading Contest Table of Contents
The Trading Contest has ended. Please note that the information of the ended Trading Contests and events maybe outdated.
For the latest FXCM’s Trading Contests and events, please refer to its main introduction page. FXCM’s main introduction page is here.
Join FXCM’s Africa Forex Trading Contest
The contest officially begins September 2018, and restarts each month.
The monthly start and stop time is 17:00 Eastern United States time on the last trading day of each month.
All live account holders who are eligible are automatically registered into the contest.
Cash prizes target=”_blank” rel=”external nofollow noopener noreferrer” are credited to your FXCM Trading Account.
Voucher winners will receive via email a coupon code.
FXCM will contact all winners within 10 business days of the end of the competition, either by phone or email. Please ensure your contact details are correct.
For clients with multiple accounts, only the best performing account will be eligible.
The recognized trading day for forex is standardized globally and always begins and ends at 17:00 Eastern United States time (NY Time).
Join FXCM Africa’s Forex Trading Contest
How much money required for the Contest?
The minimum equity required is $500.
This is calculated by your equity at the start of the contest + any deposits made during the month.
Example A: If your equity is $820 at the end of the trading day on Friday 31st of August, you will automatically enter September’s competition.
Example B: If your equity is $335 on Friday 31st of August, you will need to deposit $165 at any stage during September to become eligible. Traders whose equity increases above $500 during the month from trading activity alone will not become eligible and would still need to deposit the difference between $500 and their equity at the start of the competition to become eligible.
How to win FXCM’s Africa Forex Trading Contest?
The FXCM Africa Trading Contest is based on your monthly total return (percentage gain), calculated using this formula:
(End of Month Equity – Beginning of Month Equity-Deposits) / (Beginning of Month Equity + Deposits) * 100
This is simply your trading profit from the month in relation to your account equity at the start of the month, including any mid-month deposits.
For example:
At the beginning of the month, your equity is $880.50.
At the end of the last trading day, the equity in your account is $1895.60.
During the month you made a deposit of $200.00.
In this case your monthly total return (percentage gain) is:
1895.60 – 880.50 – 200 / 880.50 + 200 * 100
(815.10 / 1080.50) = 75.44% return
The account with the highest monthly return each month shall win the contest.
This means that irrespective of your account equity you still have an equal chance to compete and win.
Join FXCM Africa’s Forex Trading Contest
Fund Withdrawal Condition during the Contest Period
Withdrawing or transferring out funds from your account or receiving a “Margin Call” will disqualify an otherwise Eligible Trader from the Contest for that Month.
A Margin Call is when your equity drops below your Margin Requirement and as a result one or more of your open positions are forcibly liquidated.
Margin calls often occur due to over leveraging.
Leverage is a double-edged sword and can dramatically amplify your profits.
It can also just as dramatically amplify your losses.
Trading foreign exchange with any level of leverage may not be suitable for all investors.
Please click "Introduction of FXCM", if you want to know the details and the company information of FXCM.
IronFX
Comment by Diletta
March 26, 2024
Awesome bonuses, good leverage. A few hiccups, but support rocks!