King of Micro Trading Contest – FXCM

Posted on 27. Jul, 2010 by Jakob in broker, Random Noise

Every single month FXCM Micro is hosting a contest named King of Micro Trading where you will be able to show your skills as a true forex trader. At least that is probably what they want it to look like, but when we take a closer look on the returns made in recent months from the winners, it is obviously more of a contest in gambling than actual trading, or to put it in more diplomatic terms, a strong motivator for extreme use of leverage and over trading. The winner of the King of Micro Trading contest in last month (June) had a return of 833% , and back in May the winner returned 3100%! Needless to say that this is a holy grail for FXCM. However if you are looking to win the contest you should probably forget everything you ever learned about money management and simply go crazy. When that is said, you now have the possibility to join the King of Micro Trading contest for August. The rules are rather simple; you need to have a real micro account with a minimum balance of $500 at the beginning of the month and then trade the best you know for the entire month. Read more about the rules here. Obviously you will be paid a fair return for your effort if you join the top three traders: 1st place: $25,000, 2st place: $10,000 and 3st place: $5,000. Good luck!

Related posts:

1. Two Contest Opportunities with FXCM
2. MyFxBook – Trading Contest
3. Contest over at ForexPeaceArmy – First Prize of $1000
4. MyFxBook – Forex Trading Contest
5. Trading Contest with MyFxBook

Tags: forex contest, FXCM, FXCM Micro, King of Micro, King of Micro Trading Contest