Discussion of the Forex Contest Squared Financial June 2015 Forex Contest
Jun 05, 2015 at 08:03
If you think you are so good that you could win that prize, you better spend this month trading with real money instead of hoping for a meager 3500$ account.
I'm here to test my trading strategy and to gain confidence in it, and because I like contests :D
I'm here to test my trading strategy and to gain confidence in it, and because I like contests :D
Steady progress, consistent results
Member Since May 09, 2015
1 posts
Jun 05, 2015 at 08:03
Almost Everything it's a SCAM....Thanks for the info, so I don't waist my time either.
Bearish26
Jun 05, 2015 at 08:03
Forexmanager9 posted:
EVERYONE READ THE BELOW **CHAT HISTORY** AND STOP WASTING YOUR VALUABLE TIME ON THIS SHITTY CONTEST:
Chatting with London Sales.
An operator will be right with you!
Vinayak:HI
London Sales has joined the chat!
London Sales:Hello and welcome to Squared Financial. How can I assist you today?
Vinayak:I have a query with reference to contests that is being currently held on myfxbook
London Sales:sure
Vinayak:Is that contest open for all ?
Vinayak:I mean does one need to be a professional trader
London Sales:yes as long as they qualify to open a live account
Vinayak:What qualification is needed to open a live account ?
London Sales:main is trading experience and understanding of risks
London Sales:plus either of the two below
London Sales:1. working in financial markets
London Sales:2. financial assets over 500k
Vinayak:Ok.
Vinayak:And what if someone doesn't meet any of the criteria ?
Vinayak:If someone is just a retail trader ?
London Sales:if it is not even trading
London Sales:then sorry we cannot
London Sales:also our minimum is $5000
Vinayak:Are you trying to say that if a retail trader wins the contest but doesn't meet any of the qualifications then he won't be given the prize amount ?
Vinayak:??
London Sales:correct
Vinayak:Then why it's not mentioned anywhere in the contest rules ?
London Sales:It is
London Sales:it did say you will need to open a live account
Vinayak:Anyway, thanks alot you saved me from wasting my valuable time.
London Sales:you are welcome
I really dont expect this story. Do other brokers have similar contest rules on myfxbook? Do myfxbook know about all of this? I think myfxbook should take responsibility to clarify this.
Jun 05, 2015 at 08:04
hey man you still able to withdrawn after 30 days
hm...that truly is ridiculous. I understand they want to filter but that is poor filtering. And to force you to open and deposit live account. The platform must really suck. :D
And Squared Financial, Vin is right. It is not mentioned ANYWHERE in contest rules!
Unbelievable.
Thanks Vin.
Oh well,...next. :D
Forexmanager9 posted:
EVERYONE READ THE BELOW **CHAT HISTORY** AND STOP WASTING YOUR VALUABLE TIME ON THIS SHITTY CONTEST:
Chatting with London Sales.
An operator will be right with you!
Vinayak:HI
London Sales has joined the chat!
London Sales:Hello and welcome to Squared Financial. How can I assist you today?
Vinayak:I have a query with reference to contests that is being currently held on myfxbook
London Sales:sure
Vinayak:Is that contest open for all ?
Vinayak:I mean does one need to be a professional trader
London Sales:yes as long as they qualify to open a live account
Vinayak:What qualification is needed to open a live account ?
London Sales:main is trading experience and understanding of risks
London Sales:plus either of the two below
London Sales:1. working in financial markets
London Sales:2. financial assets over 500k
Vinayak:Ok.
Vinayak:And what if someone doesn't meet any of the criteria ?
Vinayak:If someone is just a retail trader ?
London Sales:if it is not even trading
London Sales:then sorry we cannot
London Sales:also our minimum is $5000
Vinayak:Are you trying to say that if a retail trader wins the contest but doesn't meet any of the qualifications then he won't be given the prize amount ?
Vinayak:??
London Sales:correct
Vinayak:Then why it's not mentioned anywhere in the contest rules ?
London Sales:It is
London Sales:it did say you will need to open a live account
Vinayak:Anyway, thanks alot you saved me from wasting my valuable time.
London Sales:you are welcome
hm...that truly is ridiculous. I understand they want to filter but that is poor filtering. And to force you to open and deposit live account. The platform must really suck. :D
And Squared Financial, Vin is right. It is not mentioned ANYWHERE in contest rules!
Unbelievable.
Thanks Vin.
Oh well,...next. :D
Jun 05, 2015 at 08:08
sqfmkg posted:
To all contestants:
The rules of the contest state:
To receive a funded Squared live account your account application will undergo the normal Squared account opening process including AML & KYC.
The normal account opening process for a Squared account requires proof of professional** client status (as defined under MiFID regulations) and AML and KYC checks.
We recognise that Contestants may not be able to satisfy this status. Our practice in this instance has been, and will continue to be, paying the prize money directly to the Contestant, when the 30 days after the date of deposit period has lapsed.
The Squared contest provides an actual opportunity to both non-professional and professional traders to a) demo a Squared MT4 account and to b) be considered for fast tracking to the trader development programme https://squaredfinancial.com/en/fast-track-tdp.
**A client who is to be treated as a professional client for the purpose of these Regulations must satisfy at least two of the following criteria:
(a) the client has carried out transactions, in significant size, on the relevant market at an average frequency of 10 per quarter over the previous four quarters;
(b) the size of the client's financial instrument portfolio, defined as including cash deposits and financial instruments, exceeds €500,000;
(c) the client works or has worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services envisaged.
Thanks for a fast respons.
Jun 05, 2015 at 08:09
This is waste of time, thanks FX KISS for this info. Myfxbook should be more careful when offering 'brokers' in future. I would like to compete at tier 1 broker`s contests, not beginners eager for publicity or else. Even demo contest - I will check the broker before I apply IF I ever decide to participate. No trades from me, their MT4 recycled .
Cheers
Cheers
Never retreat. Never surrender.
Member Since May 17, 2015
3 posts
Jun 05, 2015 at 08:09
i'm here to chalenge my self..the result if i in top50, its ok for me.
Jun 05, 2015 at 08:09
JacoAF posted:sqfmkg posted:
To all contestants:
The rules of the contest state:
To receive a funded Squared live account your account application will undergo the normal Squared account opening process including AML & KYC.
The normal account opening process for a Squared account requires proof of professional** client status (as defined under MiFID regulations) and AML and KYC checks.
We recognise that Contestants may not be able to satisfy this status. Our practice in this instance has been, and will continue to be, paying the prize money directly to the Contestant, when the 30 days after the date of deposit period has lapsed.
The Squared contest provides an actual opportunity to both non-professional and professional traders to a) demo a Squared MT4 account and to b) be considered for fast tracking to the trader development programme https://squaredfinancial.com/en/fast-track-tdp.
**A client who is to be treated as a professional client for the purpose of these Regulations must satisfy at least two of the following criteria:
(a) the client has carried out transactions, in significant size, on the relevant market at an average frequency of 10 per quarter over the previous four quarters;
(b) the size of the client's financial instrument portfolio, defined as including cash deposits and financial instruments, exceeds €500,000;
(c) the client works or has worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services envisaged.
Thank you for clarifying this whatever your name may be.... Well guys and gals, good luck trading in this joke of a 'demo contest' if you choose to, I'm done... going to sit this one out... got a feeling we are having another 'FXChoice' type scenario here. Lets see how many of the contestants actually take part in this one. Maybe SF can beat the record of FXChoice of around 20%...
Cheers!
SQFMKG is Squared Financial Marketing team, if you still don't get it let me explain to you; Squared Financial have this program called as Fast Track Trader Reward Program whereby if you have OUTSTANDING result of trading you will have an oppurtunity to have some investor invest on you(you trader their money) with a 30% commission for you. The reason of the strict account opening is because they don't want people to lose their hard earned money without having an ample knowledge/experience in market. Even FXCM have this filtering, but not as strict.
Jun 05, 2015 at 08:09
sqfmkg posted:
**A client who is to be treated as a professional client for the purpose of these Regulations must satisfy at least two of the following criteria:
(a) the client has carried out transactions, in significant size, on the relevant market at an average frequency of 10 per quarter over the previous four quarters;
(b) the size of the client's financial instrument portfolio, defined as including cash deposits and financial instruments, exceeds €500,000;
(c) the client works or has worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services envisaged.
I am done lost total interest God luck with your contest
vivekrelish@
Member Since Sep 05, 2011
6 posts
Jun 05, 2015 at 08:09
Why some partecipants have 100 leverage and others 200?
Member Since Jan 08, 2014
1 posts
Jun 05, 2015 at 08:11
the professional trader still need to wasting time on your 3500 prize money? wasting my time.... lol
rpgterence@
Member Since Nov 03, 2014
1 posts
Jun 05, 2015 at 08:11
ManukSabung posted:Demdorian posted:
why the difference of leverage?
agree with you ... the leverage is totally different .... i think myfxbook is scam . why they dont stop the contest or restart it again .
Yea its Bullshit is other ppl get more leverage.. Then they can just get lucky and win and lower leverage traders dont have a chance
Member Since May 05, 2015
4 posts
Jun 05, 2015 at 08:26
This is all bullshit strange rules and strange broker
