$5,500 Prize Pool for ForexRazor's "Excel Markets Forex Trading Contest March 2013"

To take part in the contest, you need to be registered at ForexRazor.com. You can register any time between March 18, 2013 and April 15, 2013 (which is when the contest will end). When you access the “Contests” section of the site, you will be able to open the Trading Contest page, read and accept the terms and conditions, and register. Then, when you open your Meta Trader 4 account, you will need to access the server titled “ExcelMarketsNZ-Demo”... and start trading. You will be given $10,000 fake money, which you can use to compete for the $5,500 prize pool. The trader with the biggest profit when the contest ends will be given a $3,000 prize. Second place will win $1,250, third will win $400, fourth will win $250 and five to ten will tin $100 each. The winnings will be paid within 30 days of the contest's end via PayPal, Moneybookers/Skrill or wire transfer. Prizes that are not collected after 30 days will be canceled.

Of course, just like any other Forex competition, this one has certain specifications you would need to pay attention to. First, leverage for all participating accounts will be 1:100, and margin calls will be set to 100% of the required margin. Once the margin call is triggered, your trades will be closed one by one. If you lose all your money, you will not be able to register again and start over (there is a strict one entry per household rule). Second, meeting or exceeding 50% drawdown will get you disqualified from the contest. Drawdown will be calculated based on “peak to valley” equity, and new account highs will have also affect drawdown tolerance.

The third thing you need to pay attention to is, as stated in the official contest rules, that “any participant intentionally hitting the demo price feed off market will be disqualified”. This means that if you try to take advantage of any latencies between your connection and the trade server, ForexRazor will find out and kick you out of the competition. Be warned!

Like any demo Forex trading competition, the Excel Markets Forex Trading Contest March 2013 sounds like a nice, safe opportunity to test your skills and pit yourself against you fellow traders, while making some money. We've already seen several such offers this year, like OANDA's Myfxbook Demo Contest and the FBS March $999 Demo Contest. Some brokers go even farther, offering immense prize pools, like the Admiral Markets $541,000 ForexBall prize pool. All in the spirit of friendly fun and competition, of course!

ENJOY!