Discussion of the Forex Contest Squared Financial June 2015 Forex Contest

I can't open any new trades 'Not enough money'. My profit is negative but only -2000$.
Shouldn't the rest of 8000$ allow me to open at least at 0.01/lot? Or is there something I didn't understand

kamal888 posted:

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 https://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 is Squared Financial Marketing team, if you still don't get it let me explain to you; Squared Financial have this program called as Fast Track Trader Reward Program whereby if you have OUTSTANDING result of trading you will have an oppurtunity to have some investor invest on you(you trader their money) with a 30% commission for you. The reason of the strict account opening is because they don't want people to lose their hard earned money without having an ample knowledge/experience in market. Even FXCM have this filtering, but not as strict.

----------------------------------------------------------->>>>>

Don't get it???

Let me explain something to you sir! I have been with FXPro for more than 5 years now, and I'm very happy with them. Been trading on the same live account for more than three years now - seem to work for me. I train people in FX locally and abroad - some of my students are in this contest.

Now, SF can take their crap rules, and like FXChoice before them, can shove it! I enter these contests (and my students) to have fun, and test our trading strategies and methods. I have no interest in the opening a live account with any other broker, PERIOD! And the moment any broker start with their sneaky marketing tactics almost 'trick' people to sign up to their services, then I stay clear. There is a reason why I refer my own students to FXPro, because I trust them through experience. And in my experience, Tier 1 brokers like FXPro, FXCM, etc. have survived because they are strictly regulated, and don't try and trick and deceive people in order to get clients. I challenge you to go and open a live account at a Tier 1 broker and see if any of them require you to deposit large amounts? You ever wondered why some of these brokers ion these contests cannot allow US citizens to enter. It's called STRICT REGULATION, and there is a good reason for that.

So my dear learned sir, I personally choose not to get involved with SF. Don't really care how 'honest' or 'trustworthy' you, their staff or 'millions of traders' think they are. What I care about, and what I try teach my students, is to ALWAYS act in your own best interest.

So explain to me why the person I quoted is from Austria (check the flag in his/her profile), but the company is based in Dublin/London. And then there are these 'rules', and all the discrepancies on leverage and account deposits - and this all on day 2 of the contest....

Well, enjoy your broker, and your contest my dear sir, because I am now going break out the popcorn and watch the SF saga unfold on my one screen, while do what I have been doing for four years, which is trade live on another screen...

Good luck sir!

robotfxea posted:
I can't open any new trades 'Not enough money'. My profit is negative but only -2000$.
Shouldn't the rest of 8000$ allow me to open at least at 0.01/lot? Or is there something I didn't understand

Hi robotfxea. You cannot open any more positions because your account leverage is 1:100. I see your contest profile says it's 1:200 but all accounts were changed to 1:100 (as per the rules) before the contest started.

Regards

its will be can be me the winner who know XD

just bust ur demo account . i bust my account . keep on going


you mean you made it zerousd

Hi, I'm rank 1 ! It's so bad !!! 😐

For opening live account by this broker, you have to deposit at least 5000$ which also means you have to deposit even if you win this contest. What a joke, deposit 5000$ for getting 3500$..jesus christ..

JacoAF posted:

kamal888 posted:

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 https://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 is Squared Financial Marketing team, if you still don't get it let me explain to you; Squared Financial have this program called as Fast Track Trader Reward Program whereby if you have OUTSTANDING result of trading you will have an oppurtunity to have some investor invest on you(you trader their money) with a 30% commission for you. The reason of the strict account opening is because they don't want people to lose their hard earned money without having an ample knowledge/experience in market. Even FXCM have this filtering, but not as strict.

----------------------------------------------------------->>>>>

Don't get it???

Let me explain something to you sir! I have been with FXPro for more than 5 years now, and I'm very happy with them. Been trading on the same live account for more than three years now - seem to work for me. I train people in FX locally and abroad - some of my students are in this contest.

Now, SF can take their crap rules, and like FXChoice before them, can shove it! I enter these contests (and my students) to have fun, and test our trading strategies and methods. I have no interest in the opening a live account with any other broker, PERIOD! And the moment any broker start with their sneaky marketing tactics almost 'trick' people to sign up to their services, then I stay clear. There is a reason why I refer my own students to FXPro, because I trust them through experience. And in my experience, Tier 1 brokers like FXPro, FXCM, etc. have survived because they are strictly regulated, and don't try and trick and deceive people in order to get clients. I challenge you to go and open a live account at a Tier 1 broker and see if any of them require you to deposit large amounts? You ever wondered why some of these brokers ion these contests cannot allow US citizens to enter. It's called STRICT REGULATION, and there is a good reason for that.

So my dear learned sir, I personally choose not to get involved with SF. Don't really care how 'honest' or 'trustworthy' you, their staff or 'millions of traders' think they are. What I care about, and what I try teach my students, is to ALWAYS act in your own best interest.

So explain to me why the person I quoted is from Austria (check the flag in his/her profile), but the company is based in Dublin/London. And then there are these 'rules', and all the discrepancies on leverage and account deposits - and this all on day 2 of the contest....

Well, enjoy your broker, and your contest my dear sir, because I am now going break out the popcorn and watch the SF saga unfold on my one screen, while do what I have been doing for four years, which is trade live on another screen...

Good luck sir!

First of all, i am not with SF; no where did i mention i'm from SF. PLEASE READ PROPERLY.
Second, no one (SF or MYFXBOOK) force you to join, you can quit anytime at point of contest.
Third, if you love FXPRO so much why don't you use their DEMO account?
Fourth, a successful trader won't waste their time teaching others because they already earn enough from their own trading,
only the so-called professional trader need to do so.
Fifth, a broker can have their own preference of minimum deposit.
Six, you will get butthurt so bad that you will make unreasonable argument from this reply.

sqfmkg posted:

robotfxea posted:
I can't open any new trades 'Not enough money'. My profit is negative but only -2000$.
Shouldn't the rest of 8000$ allow me to open at least at 0.01/lot? Or is there something I didn't understand

Hi robotfxea. You cannot open any more positions because your account leverage is 1:100. I see your contest profile says it's 1:200 but all accounts were changed to 1:100 (as per the rules) before the contest started.

Regards

I see. Ok, thanks.

200:1 leverage means, your margin is bigger than you can earn, one example is when you open 1 lot in G/U, it is worth 1500 usd, but your profit only get 1 dollar per pip.... why a big leverage? why not 1:200 instead?

JacoAF posted:

kamal888 posted:

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 https://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 is Squared Financial Marketing team, if you still don't get it let me explain to you; Squared Financial have this program called as Fast Track Trader Reward Program whereby if you have OUTSTANDING result of trading you will have an oppurtunity to have some investor invest on you(you trader their money) with a 30% commission for you. The reason of the strict account opening is because they don't want people to lose their hard earned money without having an ample knowledge/experience in market. Even FXCM have this filtering, but not as strict.

----------------------------------------------------------->>>>>

Don't get it???

Let me explain something to you sir! I have been with FXPro for more than 5 years now, and I'm very happy with them. Been trading on the same live account for more than three years now - seem to work for me. I train people in FX locally and abroad - some of my students are in this contest.

Now, SF can take their crap rules, and like FXChoice before them, can shove it! I enter these contests (and my students) to have fun, and test our trading strategies and methods. I have no interest in the opening a live account with any other broker, PERIOD! And the moment any broker start with their sneaky marketing tactics almost 'trick' people to sign up to their services, then I stay clear. There is a reason why I refer my own students to FXPro, because I trust them through experience. And in my experience, Tier 1 brokers like FXPro, FXCM, etc. have survived because they are strictly regulated, and don't try and trick and deceive people in order to get clients. I challenge you to go and open a live account at a Tier 1 broker and see if any of them require you to deposit large amounts? You ever wondered why some of these brokers ion these contests cannot allow US citizens to enter. It's called STRICT REGULATION, and there is a good reason for that.

So my dear learned sir, I personally choose not to get involved with SF. Don't really care how 'honest' or 'trustworthy' you, their staff or 'millions of traders' think they are. What I care about, and what I try teach my students, is to ALWAYS act in your own best interest.

So explain to me why the person I quoted is from Austria (check the flag in his/her profile), but the company is based in Dublin/London. And then there are these 'rules', and all the discrepancies on leverage and account deposits - and this all on day 2 of the contest....

Well, enjoy your broker, and your contest my dear sir, because I am now going break out the popcorn and watch the SF saga unfold on my one screen, while do what I have been doing for four years, which is trade live on another screen...

Good luck sir!

i am not bothered who your broker is, fxpro or someone else or why you are trading with that broker.fxpro is not the only competent broker in this world and most good brokers are regulated. if squared financial want to do something to encourage traders let them do that. you can join or leave do not make vague accusations about a broker.

laurix posted:
For opening live account by this broker, you have to deposit at least 5000$ which also means you have to deposit even if you win this contest. What a joke, deposit 5000$ for getting 3500$..jesus christ..

The winner of this contest will probably look like a loser... hahaha

I have an issue about the leverage. My leverage is 1: 100, while that of other competitors is 1:200. Then we do not fight with equal weapons. can anybody help me? How to change my leverage to 1: 200?

lol

thank you!

thank you for your time spent finding this out! ....such elephant dung!

Does not add up, does it?

Forexmanager9 posted:

laurix posted:
For opening live account by this broker, you have to deposit at least 5000$ which also means you have to deposit even if you win this contest. What a joke, deposit 5000$ for getting 3500$..jesus christ..

The winner of this contest will probably look like a loser... hahaha

no if you wait a month you get it in cash directly

If I win the prize, I will say to Square : Oh, I don't need the prize. You can give it for a student. Yeah ! I win. Why winner has to receive the prize ? S*it group. Please don't appear on myfxbook contest... You waste our time.... But it fun to have #1 rank =]]