Thread: Contest Rules

Originally Posted by sergius871

yes sir, I had experienced some bad trades, which made me lose my 2011 year vacation.

"the only thought in my mind is if there is any body can do it then i can do it also.." this thought should be out of your mind, someones' profit does not indicate you will do as good as he/she did.

What I am writing here is not because I do not want you to trade, is because I do not want you to lose your money ... deposit your money but play it small.

I,m enjoying talking to you sir.. i appreciate your advice and will take it ... i ment that it,s not impossible to do huge profit one day your self.. hopping you always be in a good health, best wishes

how do I know if my account is a micro account? When i opened my account i was sure it was a micro.
When i am signed into the trading station it says its a mini account.
Is this the same?

Hello. I'd like to know when does the King of micro contest start?

Here King of the Micro | Monthly Forex Micro Trading Contest
it is said that the contest "the trading month officially begins at 5:00 PM New York time on the last day of the previous month and ends at 5:00 PM New York time on the last day of the month itself."

And here (removed)
it is said "The FXCM Micro account will be marked to market at 5:15 PM New York time on the first day of the month and on the close of the trading day (4.59 PM New York time) on the last day of the month".

Why is the information different on the same website?
And which one is true?

Hi volcum,

Welcome to the Forum and thank you for your post!

Your account is a Micro account. I just confirmed it. There are really not a lot of differences between a Micro and a Mini account when trading. Mini accounts can trade quite a few more CFD's and have better support (24 hour phone/chat) but they look the same when trading.

Let me know if you have any further questions. Thanks!

Rob
rob@fxcm.com

Originally Posted by volcum

how do I know if my account is a micro account? When i opened my account i was sure it was a micro.
When i am signed into the trading station it says its a mini account.
Is this the same?

Hi yur,

Thank you for bringing this to our attention. We are taking down the 2nd link that you sent to us because it has dated information that is no longer valid. The information found on the 1st link is accurate (http://www.forexmicrolot.com/trading-contest.jsp). I apologize for the confusion!

Let me know if you have any other questions.

Thanks!

Rob
rob@fxcm.com

Originally Posted by yur

Hello. I'd like to know when does the King of micro contest start?

Here King of the Micro | Monthly Forex Micro Trading Contest
it is said that the contest "the trading month officially begins at 5:00 PM New York time on the last day of the previous month and ends at 5:00 PM New York time on the last day of the month itself."

And here (removed)
it is said "The FXCM Micro account will be marked to market at 5:15 PM New York time on the first day of the month and on the close of the trading day (4.59 PM New York time) on the last day of the month".

Why is the information different on the same website?
And which one is true?

I currently only have one mini account open. I am considering opening multiple micro accounts to test different trading strategies. Would it be possible to take 1st and 3rd with two different micro accounts that I have, or is one person only eligible to win one position per month?

Hi Elvis T,

Thank you for your post!

You are only allowed to have one micro account so it is not possible to place twice in a single month's contest. There is no limit however, on mini/standard accounts if you'd like to test different strategies on those.

Let me know if you have any further questions. Thanks and have a great day!

Rob

Originally Posted by Elvis T

I currently only have one mini account open. I am considering opening multiple micro accounts to test different trading strategies. Would it be possible to take 1st and 3rd with two different micro accounts that I have, or is one person only eligible to win one position per month?

can a previous winner participate in future contests? and if he wins any of them will he take the prize again with equal chance as all the others or there are any regulations or limitations on previous winners?

Hello Comodo, and thank you for your post! On behalf of myself and everyone here at FXCM, welcome to the forum community!


Can I win the King of the Micro contest two months in a row?

Yes it is possible to win the contest two months in a row. If you win the contest, you are allowed to withdraw the prize money without penalty. You are not allowed to withdraw trading profits though. Withdrawing funds that are not part of the prize money will disqualify the account. Also, traders can participate as much as they'd like regardless of how many times they have won in the past.


Have you had any traders win back to back months?

I have never seen a trader win back to back months, but I have seen 2 different traders that have placed in the top 3 twice. It is very difficult to do simply because it is so difficult to win the contest once. As someone I know puts it best: winning it twice is a phenomenal achievement!

If you don't mind me asking, are you participating in this month's contest?

If so how has it been coming along so far? What type of trading strategy are you utilizing at this time? I may have some resources that can help you to hone your strategy, or develop new ones. Please let me know if there is anything on my end that I can provide for you to make your trading experience a better one. If you aren't participating yet remember:

It's still not too late to participate in next month's King of the Micro contest!

There is no registration form or entry fee required. All live FXCM Micro accounts with a minimum equity of $500 at the beginning of the month are automatically entered in the contest! For the purposes of the contest, the trading month officially begins at 5pm New York time on the last day of the previous month and ends at 5pm New York time on the last day of the month itself. Please click here for more information.

Please click here (Deposit FAQ's) for more information about making deposits. I would suggest depositing by debit or credit card since it is the fastest method of depositing. Please contact me at julius@fxcm.com when you have made the deposit so that I can help expedite the process and ensure that you are eligible to participate.

If you do not already have an FXCM Micro account, you can open an account by clicking here.


Thank you again for your post Comodo! Please do no hesitate to post with additional questions or contact me directly at julius@fxcm.com

Originally Posted by Comodo

can a previous winner participate in future contests? and if he wins any of them will he take the prize again with equal chance as all the others or there are any regulations or limitations on previous winners?

Hallo fxcm staff,



This KoM contest is so awesome ! I couldn't wait for the next month context !
But I have a question about this part of the rule : [ only one ( count) entry to the context per count owner or holder. ]

If in such case :

I have two counts, both getting 500 USD in the beginnig of this month, and in the end
, count A getting return percentage ahout 1300%, would be the first place of the context, and the other, count B having 1000%, would be the second place.

What would happen next ?

1. Both counts aren't valid, because I have two counts in the beginning, and I get nothing in the end of the context.

2. One of them would be valid by random, so I might be the first place or second place in the end
of context.

3. The better return percentage one would be valid, so I would be the first place in the end of context.

4. Somthing happen but not included above.




Thank you for the help,

And may the force be with you !



Gorden Hsu

Hi Gordon!

Thank you for your questions!

You are only allowed one FXCM Micro account so the situation you are referring to isn't possible. I wish you luck in this month's contest!

Rob
rob@fxcm.com

Originally Posted by sosonian

Hallo fxcm staff,



This KoM contest is so awesome ! I couldn't wait for the next month context !
But I have a question about this part of the rule : [ only one ( count) entry to the context per count owner or holder. ]

If in such case :

I have two counts, both getting 500 USD in the beginnig of this month, and in the end
, count A getting return percentage ahout 1300%, would be the first place of the context, and the other, count B having 1000%, would be the second place.

What would happen next ?

1. Both counts aren't valid, because I have two counts in the beginning, and I get nothing in the end of the context.

2. One of them would be valid by random, so I might be the first place or second place in the end
of context.

3. The better return percentage one would be valid, so I would be the first place in the end of context.

4. Somthing happen but not included above.




Thank you for the help,

And may the force be with you !



Gorden Hsu