Discussion of the Forex Contest FXCM Forex Contest

Its in the email

I noticed, we cannot yet place trades, this will be unlocked in the platforms, when the contest starts right?

FMIA posted:
Where is the link to download the platform? I keep getting an Onada platform

From the email you got after registration or from the following link:
https://www.forextrading.com.au/support/faq/software-download/

good luck everyone

Hi, I'm new to these contests, what % gain do the first few places generally have? Thanks!

Anyone else notice the Bid/Ask lines on the charts do not match the prices in the Market Watch window? They also denote higher spreads. Market watch shows spreads of around 0.3 or 0.2 for EURUSD and GBPUSD most of the time, but the chart lines are showing spreads of 2.2 etc. The attached screenshot shows spread of 2.2 on the chart, but 0.2 on the market watch.

Thanks Jason. Yes, I'm not in the UK, so I guess I'll have to wait till they roll out the new spreads and rates to my account.

All the best with the contest everyone!

jasonrogers posted:

RKSA posted:
Hi Jason,

Thanks for the info. I have a live FXCM UK account. Will all existing accounts automatically be transitioned to the new spread + commission costs? Do you know when it will happen?

Thanks!

Hi RKSA,

FXCM's new pricing has already been rolled out to our clients living in the US, UK and Australia. The transition is being done region by region 1) to ensure we follow regulatory requirements for due notice to traders which vary by regulator and 2) to ensure an orderly transition within our own system so as not to negatively impact our traders.

You mentioned that your account is with FXCM UK, but if you live outside of the UK itself, then your account may still be on our old pricing. While I do not have information on transition dates for our clients in other countries at this time, you will receive email notification should a date be scheduled for you.

Yes this has been explained by Jason from Fxcm in one of the early posts here.
I am concerned to know if my EA responds to the chart prices or to the market watch prices ?

Hello,

are GER30 allow for trading in this contest?

Thanks,
Gerald

gregorykozma posted:
Hi, I'm new to these contests, what % gain do the first few places generally have? Thanks!

Its usually unreal, we start with 50k and the winners usually end up with around 5+Million dollars. Thats just the few ive been a part of.

Yep, I did but noted that the Bid/Ask lines compare equally to other ECN platforms. So no problem with this. My Question would be which ones apply? Prices on the Bid/Ask Lines or the Market Watch Prices?

Hi FXCM

IM trying to log into my mt4 but what server should i be on for the contest
it just keeps coimg up account invalid??

littlecraig posted:
Hi FXCM

IM trying to log into my mt4 but what server should i be on for the contest
it just keeps coimg up account invalid??

 Remember that you wont be able to access the account until the contest begins. It clearly said that in the terms and agreement..

gregorykozma posted:
Hi, I'm new to these contests, what % gain do the first few places generally have? Thanks!

 When it comes to demo trading contest you would have to do over 800% or better in order to even come close to winning. Most of the demo traders overleverage the account, and let the winners win.... There is currently a demo contest going on with a broker called hantec and the current leader has well over 1100% profit over the spand of 1 week....

for those who cannot access the metatrader, note that you can trade from contest date, and those who are getting invalid account, make sure you have selected FXCM-USDDemo01 as the login server.

Cholipop posted:

gregorykozma posted:
Hi, I'm new to these contests, what % gain do the first few places generally have? Thanks!

 When it comes to demo trading contest you would have to do over 800% or better in order to even come close to winning. Most of the demo traders overleverage the account, and let the winners win.... There is currently a demo contest going on with a broker called hantec and the current leader has well over 1100% profit over the spand of 1 week....

can you please tell me why this kind of profit it not feasible or possible on real account? any limitation or risk factor?

eogorfx posted:
Yes this has been explained by Jason from Fxcm in one of the early posts here.
I am concerned to know if my EA responds to the chart prices or to the market watch prices ?

Oops, you mean that big huge post right on the front page? 😳 The first time I read through I only read the first little bit of that post talking about the new spreads and skipped over the rest of it. Duh!

Anyway, thanks eogorfx...and good luck!

The last contest had winners whose return were far in excess of 800% (in the 1000's of %). The bar is high and I expect more of the same.

If you are running MT4 then the best tip I can give you is familiarise yourself with the platform before the contest.

When you think you know MT4 then go back and do it again (and again if necessary).

One of the things that caught traders out unfamiliar with MT4 was the expansion of areas not visible in the default.

Savvy traders were trading pairs and crosses that did not show up when launching MT4 for the first time but they knew about them because they had experience with MT4.

Good luck and happy pipping

Hi,
I am looking forward to this Contest. I have designed and coded a few EAs and would like to test them here thoroughly.

Lets see if we can get over 1100% gain in this contest.

Let the SHOW Begin!


Abhishek