Yes, traders in most provinces of Canada are eligible for this contest. However as has been previously mentioned, the Alberta Securities Commission prohibits retail forex trading for residents of the province. That means traders living in Alberta are not eligible for the prizes in this trading contest which are funded FXCM trading accounts.
Skywalkers posted: Hi @jasonrogers , I have the new pricing in my FXCM MT4 platform but I have a question about the contest: The positions will be closed automatically at the end of the contest or every week? In theory I might have a position open from the beginning of the contest until the end, right?
Trades in your contest demo account are not closed at the end of every week. That means you can have a position open from the beginning of the contest until the end.
The FXCM mt4 version 735, has no "signal" tab.
Will not be allowed to receive signals in the contest?
It seems honest, but I need to know.
sincerely, Paul Sadi competitive 2132452
The signals tab you mentioned was disabled because it links to a 3rd party site, and FXCM has no way to ensure the quality of signals that get added. As an alternative, you may be interested to know that FXCM clients have access to many signals and strategies through FXCMapps.com and DailyFXplus.com and Mirror Trader: https://www.fxcm.com/uk/platforms/mirror-trader/?CMP=SFS-70160000000MusRAAS
I've asked a message with regards to what can be traded exactly???? What instruments?? Are there restrictions on things like Gold and Oil as they move much more than the currencies and I know In a recent competition they restrained it to 1 mini lot oil and gold etc compared to 1 fx lot as Oil and Gold move 10 times as much so it would be fair. Also If you lose a certain percentage on a trade and your position is still open when do FXCM cut it??? Recently a competition had 30£ of your account etc they would cut open positions if you had gone over 30% and your positions were still open then they would cut them. what is the maximum lot sizes you can trade??? Any other rules would be great to know and any restrictions??
To provide equal opportunity to all eligible participants, the contest will be conducted using FXCM UK's MT4 demo trading platform that provides functionalities and access to products that may be unavailable or restricted depending on a trader's residence. For example, traders in the US are not allowed to trade live forex accounts with more than 50:1 and a prohibited from trading CFD products for gold and oil. However, in this trading contest, US traders will be able to trade with up to 200:1 leverage and trade any CFD products we offer including gold and oil. That way all eligible participants can trade under the same conditions on their FXCM UK MT4 demo accounts, even if different regulations might apply to their live trading accounts due to local regulations.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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