RoboForex Launches Forex Trading Contest Project ContestFX
Like any normal person, I'm a sucker for free stuff. Any time there is a wine tasting, cheese sampling, free mani-pedi discount coupons, I'm there. It's not necessarily that I need it, but... it's free! Therefore, you can probably imagine my excitement when I heard RoboForex is launching ContestFX – a new contest project, open to participants from all over the world. Of course, this makes perfect sense. As we recently reported, New Zealand's financial regulator FSP has changed its rules and scratched 250 companies off its registry. Since RoboForex is one of the companies that have retained their FSP regulation, it would logically have to do its best to offer more and better services to its clients. The ContestFX project is pretty straightforward. It offers a separate web page for each of the contests organized by RoboForex, with a detailed description of terms and conditions as well as info about contest events. There is a contest schedule, table of traders and all the latest contest news. Participation also does not require much – all you need is a live account which has the option to register for any of the contests (or all of them). You'll be asked to pick a nickname and enter your phone number in order to receive an SMS verification code... and that's it, you're ready to roll. The entire process takes no more than a few minutes. As for the contests themselves, there are only two available at the moment - “Demo Forex” and “MegaLot”. “Demo Forex” has a duration of 1 month and a prize pool of $3,000, while “MegaLot” is a daily contest with a prize pool of $1,000 per day. For both contests, the rules to determine the winners are very simple and clear-cut: the participant who has accumulated the largest amount in their contest account by the end of the competition period takes first prize. In order to make sure that all competitors start on equal ground, RoboForex provides an initial virtual-money deposit into each contest account right before the start of the competition. The amount of this deposit is $20,000 for “Demo Forex” and $1,000 for “MegaLot”. Two contests doesn't sound like much, does it? That's what I thought too, but RoboForex promises to add at least a few more to the ContestFX web page as soon as possible. If you are new to Forex and don't feel quite ready to test your trading skills, you can still make some dough by entering the broker's message board challenge and win cash prizes by participating in RoboForex's community. Whichever way you go, don't forget to have fun and make some profit along with that!
