Myfxbook unveiled it’s latest trading competition when it teamed recently with forex broker Global Derivative Capital Markets NZ Limited (GDMFX). GDMFX is registered as a Financial Services Provider in New Zealand with FSP registration number FSP238465. There are few better ways to amass a bunch of leads and potential clients than to offer something for nothing, if you consider registering a live account with your full details a small price to pay for a shot at claiming one of the contests top three prizes which are worth $5,000, $3,000 and $2,000 respectively. The prize money is paid out in the contestants live account and can be withdrawn without restriction.
The paper trading contest specs are as follows:
- Initial deposit is set at $10,000 USD
- Leverage: 1:200
- Minimum volume – 0.01 lot, maximum volume – 1000 lots
- Maximum number of open positions/pending orders – 200
- All trading techniques or EAs are allowed sans any abusive techniques
- Winning participants are required to have achieved a minimal trading activity of 50 Lots for the duration of the contest
So basically very unrestricted trading conditions, unless you wanted some higher leverage in the 400-500x range, however with $10,000 in the account it will be plenty enough to work with. As stated earlier, you must register a live account with GDMFX through Myfxbook in order to partake in the competition.
To make the competition transparent, rules state all the contest stats shall be available on the Myfxbook website with the three highest balances taking home the top prizes. The monetary prizes are to be paid into the winner’s real / live account with GDMFX within 20 calendar days of the announcement of the winners and can be withdrawn without restrictions.
The trading competition starts on August 20th, 08:00 GMT until September 20th 08:00 GMT 2015. Registration for the contest ends on August 20th, 08:00 GMT. The signup process already foretells of an extremely competitive contest assuming most of the participants actively compete with now 1,387 signups and growing.
For more information on this trading competition click here.