Discussion of the Forex Contest Squared Financial June 2015 Forex Contest

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

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

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 http://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.

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 http://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 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.

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 .

Mrodri posted:
Strange how some trader have 1-200 leverage and I even noticed one trader gained a 100%, but yet'' no trade was placed on the account 😲

What is that about😕