To use chat, please login.
Back to contacts

Forex Contest FX Choice

JacoAF (JacoAF)
Mar 18 2015 at 09:50
130 mensajes
jontarno posted:
JacoAF posted:
ATTENTION ALL TRADERS!
=================

I, thankfully, have opted not to take part in this circus last week already. It was with great curiosity, and amusement, that I followed the events so far today. The confusion among everybody over the unusual 'account verification' rule of this contest have basically turned this contest into a HUGE mess!

Do yourselves a favour. Go click on all 'All competitors' in the 'Top 10' tab of the competition page. Then go and count the amount of traders that are actually posting a profit so far (I just counted around 140). Next you have to scroll to the last page and scroll backwards to count the traders that already have blown their accounts or are in a negative balance (I counted around 250 so far).

So lets less than 400 (140 + 250 = 390 rounded to 400) of the 3275 registered traders are currently actually able to trade, expressed as a percentage is 12.2% - again we will round this number to 12%.

This means that only around 12% of all registered traders in this contest is currently participating in the contest. The remaining 88% of all traders have either opted to not take part in this contest (like myself) because of the 'account verification' rule, or are not able to trade due to the 'account disabled' issue, again as a result of the 'account verification' rule.

On top of that, the 12% of traders that are currently taking part in this contest are reporting all kinds of weird issues like Stop-loss and Take-profit levels not being triggered, and pending orders not working at all.

Not sure if anybody cares about these useless statistics... and its only day 1. I personally find them fascinating, because, at the rate this competition is deteriorating at the moment, it makes me wonder if this broker will even awards the prizes at the end of the contest, considering they only got around 12% of the 3275 contestants to supply their personal details - which I think, in my own opinion, was the point this broker is hosting this contest.

Anyway, this is only day 1, and the whole situation may look different tomorrow..... who knows, maybe a miracle will happen and the majority of the traders will have their brand new 'Demo Account status verified by the end of the week.

I know I will NOT be one of them, but instead I will break out the popcorn, and follow my the new favourite 'FXChoice Reality Traders Show' with great amusement.

Good luck trading for the 12% that have the guts so far....

Cheers



because we are 12%, immediately verify., if you do not always make a fuss verification and quickly upload the data, you may include a part of the 12% that



You are missing the point my friend.... I already have a reputable broker (live accounts with them since 2010) whom I trust with my personal details. I have NO desire to submit my personal details to an unknown broker Just for the sake of a DEMO contest, so I decided a week BEFORE the contest that I will not take part. And a lot of the other traders decided to do the same.

The point is that the unusual rule of 'account verification' for a demo account for this competition is what's causing all the confusion. And because of THAT around 80% of the registered traders either have no interest in taking part ion the contest, or are not able to take part in this contest.

Anyway, my views are my own personal views on this contest, and in no way does it mean that I think the broker is not a reputable broker, I do not know, because I have no desire or need to make use of their services...

Good luck to the traders willing to take part in this contest, I watch with great interest
Jaco Ferreira

Keep it simple, be disciplined, get rich slowly and above all protect your equity!
JacoAF (JacoAF)
Mar 18 2015 at 10:16
130 mensajes
barabuba posted:
Hi guys,
After reading all these posts I could not help myself in replying as it’s getting a bit frustrating seeing all this nonsense. Don’t jump into any conclusions/decisions or critisism if you haven't had any experience with this broker 'FX Choice'. I have been trading with FX choice and I could say that this broker is very reputable and trustworthy. The fact that there is a rule about verification is their choice and they have the right to do so, as you all have the right not to go through this verification with the consequences that you will not be able to take part in the contest.
It is actually very scary that you are all still going on and on and on about this as if its something so bad. If you don't want to verify then don't.....let others enjoy the contest. The giveaway prize is $10000 split between the first five places, if you don’t want to participate to win one of them then go and do something else.....
After all it was written in the contest rules and that’s something else about you serious traders that you actually register without reading the rules, instead you go ahead then moan about your account being disabled etc etc afterwards, creating a huge amount of pages about the same thing over and over again. It is a shame that a broker is criticized about something so little without having experienced their services and trading conditions. Do your researches then you can have an opinion.
Good luck to all REAL contestants!



Great post man! What you say makes perfect sense. I am one of the traders that decided NOT to take part in the contest. I did read the rules and I was aware of the verification process, and therefore decided to respectfully notify the broker that I am not interested in opening an account with, and they promptly responded and took me off their mailing list.

It is true what you say that in order to have an opinion about the broker you have to make use of their services first. However, you have to keep in mind that the traders in this contest are located all over the world, and by the looks of it (judging by the posts you refer to) a lot of people are no experts in the English language. I feel perhaps a lot of the confusion may have more to with the fact that these people may have read the rules best they could, but may not have understood what was meant by 'account verification', simply because they are struggling with the English language.

That said, I agree with you, rules are rules, and the broker has every right to require account verification, if they so choose. After all, they have a business to run, and they need new clients to expand their business. It all makes perfect sense. Perhaps MyFXBook and future brokers can better explain to the contestants the specific requirements in advance, so this unpleasant scenario will not happen again.

Anyway man, good luck with the contest!
Jaco Ferreira

Keep it simple, be disciplined, get rich slowly and above all protect your equity!
JacoAF (JacoAF)
Mar 18 2015 at 10:25
130 mensajes
Message to MyFXBook Staff:

Why is there no new entries in the 'Recent Activities' tab of the contest?

Keep it simple, be disciplined, get rich slowly and above all protect your equity!
JIMMYG (JIMMYG)
Mar 18 2015 at 11:06
9 mensajes
Once I decided to take part in a contest after all these years just for fun and 'trading disabled' .
Do these people think that traders have all the time in the world to investigate and call customer support and blah blah....
I have taken part in the past to other competitions and rated very high and from companies like TDWaterhouse and Yahoo challenge but this is not worth the time and it is an unknown broker on top of that.
Have fun.

JimmyG

ChuckNZ
Mar 18 2015 at 12:15
9 mensajes
barabuba posted:
Hi guys,
After reading all these posts I could not help myself in replying as it’s getting a bit frustrating seeing all this nonsense. Don’t jump into any conclusions/decisions or critisism if you haven't had any experience with this broker 'FX Choice'. I have been trading with FX choice and I could say that this broker is very reputable and trustworthy. The fact that there is a rule about verification is their choice and they have the right to do so, as you all have the right not to go through this verification with the consequences that you will not be able to take part in the contest.
It is actually very scary that you are all still going on and on and on about this as if its something so bad. If you don't want to verify then don't.....let others enjoy the contest. The giveaway prize is $10000 split between the first five places, if you don’t want to participate to win one of them then go and do something else.....
After all it was written in the contest rules and that’s something else about you serious traders that you actually register without reading the rules, instead you go ahead then moan about your account being disabled etc etc afterwards, creating a huge amount of pages about the same thing over and over again. It is a shame that a broker is criticized about something so little without having experienced their services and trading conditions. Do your researches then you can have an opinion.
Good luck to all REAL contestants!



I couldn't have said it better myself. Finally, something worth reading in this blog. Thank you!

JacoAF (JacoAF)
Mar 18 2015 at 19:08
130 mensajes
Wow... seems like there was a complete re-shuffle of the top gamb... sorry 'traders' in the contest. I see this every time there is a contest. Good thing this is only a 'play-for-fun' demo contest, and surely our contestants don't trade like this with real money... well if you do at least your broker will be happy 😄

Well there you, like I said before boys and girls.... 'Hold on to your horses, and watch out for the great equalizer...', which was basically the FOMC meeting tonight...

Excess Risk + No Stop-Loss = Blown Account 😎

Anyway, well done and good luck for those still here, hard luck for those who lost everything...

Cheers

Keep it simple, be disciplined, get rich slowly and above all protect your equity!
RahmanSL
Mar 18 2015 at 19:54
209 mensajes
..wow...100 lot size trades being closed in micro seconds....must be a bunch of Supermen trading in this competition 😁

pariyadi
Mar 19 2015 at 07:49
4 mensajes
I did not take part in this contest because I thought only crazy people who want to verify only to get a demo account, peace😎

adzain (adzain)
Mar 19 2015 at 07:52
11 mensajes
I can't open position in this part of contest, why ?

arunfx30 (arunfx30)
Mar 19 2015 at 07:55
1 mensajes
No connectin status for my fxchoice mt4 ?

i can't login to my mt4 a/c, i have got verified documents already, I don't know exactly what's the problem going on ?

can anyone help me ?

To help others to get success in FOREX TRADING
Por favor inicie sesión para comentar.