So the contest has just began...

@Steve... I think that is the general idea.

It did mentioned that at the end of the contest... All open trades will be closed. And of course any open drawdown will take a big whack at the profits.

However... I am wondering... If I register, set up my demo account and start toying aroound with the account. Come 5/5 do I need to open another demo account, hook it up to myfxbook and then restart?

Logically thinking that would be how it works. But there is no detail instructions as to what I need to do after I register. Just wait for 5/5 before I let my EA rip throught the demo account?

Spyfrat posted:
 is it still transferable to charities if the winner find it impossible (banks documents, tax info number, anti money verification and all and most importantly the required fund) to open an account with them? many thanks.

We can't answer about an account opening process, so you should contact FXDD. Not sure why would it be impossible for you to open an account with them? It's a standard registration process.

bestforexea posted:
However... I am wondering... If I register, set up my demo account and start toying aroound with the account. Come 5/5 do I need to open another demo account, hook it up to myfxbook and then restart?

Logically thinking that would be how it works. But there is no detail instructions as to what I need to do after I register. Just wait for 5/5 before I let my EA rip throught the demo account?

(It's stated in the rules) Any existing history will be removed prior to the contest and the balance will be reset to $1000.

How about the type of Demo ? Got classic and micro, and what leverage they give us on demo contest ?

How long is the period contest ? And the winner is only base on ROI or also include draw down performance ?

- It doesn't matter if it's a classic/micro, as long as it's a demo FXDD account.
- You select the leverage.
- The period of the contest is stated in the rules, and is 1 month.
- The winners are indeed based on the return - we might create different contests in the future.

nice work guys

i suggest to have a weekly results followup for the contestants

moutaz posted:
    nice work guys

i suggest to have a weekly results followup for the contestants

Once the contest starts, you will be able to see the progress live in the contests area.

once you win the contest and you recive a account at fxdd and you have to trade 10 lots , will you only be able to withdraw the winings from the contest or also the winings you gain while trading 10 lots ?

davydevaux2 posted:
    once you win the contest and you recive a account at fxdd and you have to trade 10 lots , will you only be able to withdraw the winings from the contest or also the winings you gain while trading 10 lots ?

Yes, there's no reason why you wouldn't be able to withdraw your account balance.

On entering the contest, A tick box with text that states 'I agree to the contest rules' waits to be ticked. But no link to the rules is offerred. No explanation of where the rules are is offerred. (Me DUMB - look below on the bottom of the page! The rules are there :) )

In one of the posts prior to mine, it is mentioned that there are no MM restrictions. I am not familiar with what an MM is, anyone care to use words instead of acronyms?

Also is scalping allowed?

How much are we allowed to open the accounts opening balance at, and how is the winner chosen if the balances differ?

Thank you,
Blue Mental.

Lance, the rules are below the registration form ('Contest Rules').

MM is money management - there are no limitations as to how you trade (including scalping, EA, manual trading).

The accounts should be opened with a $1000 balance, however if it's different, it will be reset to $1000 before the start of the contest.

im kinda new to mt4. i downloaded my contest platform in my office last week. today i downloaded said platform in my home. do i have to use 2 different platform? im kinda confused to as im a noob. 10 yrs trading using with oanda makes me a virgin to EAs and all.

Thanks. You might have noticed, I edited in my idiot missing of the rules in the previous post.

Two things that are appropriate to know is that the margin call at FXDD kicks in if it drops below 100%. The same thing happened to me in the SureFire compettition which is currently running. So without knowing this, I had assumed that margin call was at 50% as my two brokers are, (MB Trading and Go Markets), which disqualified me. They did allow me to re-enter though. Which brings me to the second item of importance.

Only one entry allowed. You mess up and you are out!


SureFire Prizes. (Direct Wire transfer to winners bank account - sponsored by FXCM)
1st Place $15,000
2nd Place $10,000
3rd Place $5,000
4th Place $3,000
5th Place $1,000

Direct cash wire into the winners accounts.


Here is a transcript of the questions I asked the FXDD live chat. It was sent with a question asling aboughtFXDD's thoughts regarding scalp trading.

You have been connected to Richard M..
Richard M.: Hi, welcome to FXDD Live Talk.
Richard M.: No thoughts, we allow it
Lance: hi
Lance: I want to know what FXDD thinks about scalp trading?
Lance: great!
Richard M.: is there anything else i can help you with today?
Lance: another thing
Richard M.: Yes
Richard M.: How can I help you?
Lance: what is the margin call set to? 50% or 100%?
Richard M.: 100% <--- *** NOTICE***
Lance: I am entering the Myfxbook competition (sponsorred by you guys) and I would just like to know if there are any things we must NOT do in the competition?
Lance: for example limited lots etc...
Richard M.: withdrawl funds
Lance: that is only after I win them... :) I mean the competition itself
Richard M.: ok to be more specific, what exact competition are you referring to <<--- uhhh, which competition???
Lance: As stated the Myfxbook competition
Lance: www.myfxbook.com - sponserred by FXDD Malta
Lance: $2000 first prize
Lance: https://www.myfxbook.com/contests
Richard M.: ok all rules are posted in the website.
Richard M.: nothing more .nothing less
Lance: ok, now if I trash my demo accountand wish to re-enter assuming there is time left, is that allowed?
Richard M.: No, only one account per person. <<--- ***NOTICE***
Lance: ok, thank you.
Lance: are you sponsorring other competitions other than Myfxbook?
Richard M.: not that i am aware of <<--- uhh, are you aware of THIS one?
Lance: ok. thanks, bye
Richard M.: have a great day!

BlueMental

Spyfrat posted:
    im kinda new to mt4. i downloaded my contest platform in my office last week. today i downloaded said platform in my home. do i have to use 2 different platform? im kinda confused to as im a noob. 10 yrs trading using with oanda makes me a virgin to EAs and all.

You just need to have the login number and the password (under the assumption you've installed a MetaTrader 4 terminal from the same broker).

Bad news for good scalper EAs: FXDD Malta still runs an old fashioned 4 digit platform 😲

pc8multifx posted:
    Bad news for good scalper EAs: FXDD Malta still runs an old fashioned 4 digit platform 😲

As far as we're aware, you're not required to install the FXDD Malta platform - any demo FXDD account should be good to go.

hmm, but when its not Malta than its USA, means no hedge allowed and other gimmicks... or do I miss something? Is the contest independent of the location of the broker, so we just ignore NFA slavery rules and restrictions during the contest?

A demo account must be opened with FXDD (use the link provided after registration) and be connected to Myfxbook.

This link leads to FXDD Malta and this makes sense, bc on a platform under NFA rules there is i.e. no hedge allowed, FIFO, etc.

Who wants to trade and compete under such conditions...??

The point here is that you can choose your preferred FXDD Metatrader (Malta/USA). Although we provide a link for download, you're not required to use it. All you need is a FXDD demo account.