Tatiana Dementieva
What a trader will need as a minimum to start trading in the foreign currency market is to open and fund an account with a dealer. Its size may vary depending on the dealer and type of account you choose. As a rule, however, beginners start trading virtual rather than real money in a simulated account. Of course, you cannot withdraw such profits but can get basic practical skills without risking your real money.
After all mistakes are made and the beginner starts trading consistently in a simulated account, it high time they try their hand in a live account. Though the trading system has been elaborated and delivers good results, often the trader is not prepared to risk their own money or simply has none.
What should one do in this event?
Usually, traders' contests held by different dealers become handy. They involve practically the same trading, only often with virtual funds and in a competitive framework. The winner gets a money prize.
FOREX MMCIS group, a dealer, made a step further and launched a unique project that has no counterparts - free forex tournaments with real money prizes! Today it is a genuine breakthrough in internet trading because you don't have to pay for participation at all but can win decent money to be withdrawn free from any limitations. The company confidently says that now one can make money in the forex market with no starting capital at all.
What are traders' tournaments about?
Olga Parkhomova, Spokesperson for FOREX MMCIS group, answered Market Leader's questions.
Market Leader: Olga, please tell our readers about the new service introduced by your company for its clients. What are forex tournaments about and what makes them different from traditional contests among traders?
Olga: Forex tournaments are an absolutely new technology for operating in the foreign currency market patented by FOREX MMCIS group. Our tournaments offer an opportunity to make money in the forex without investing a cent of your own money. Most interestingly, winners of forex tournaments get money prizes that can be withdrawn right away. The prize fund of free tournaments is fully provided by the company. Such free tournaments are called freerolls. You can participate in 3-hour, daily, weekly and monthly freerolls. Their timetable is posted on the FOREX MMCIS group's site, at the official page of tournaments.
Forex tournaments are fundamentally different in that all trades are not forwarded to the interbank market. Instead, they are made within our dealing desk.
Market Leader: Olga, what's the use for traders that their trades are not covered by the interbank?
Olga:
• Firstly, the vital thing that many are concerned about: orders are filled in a record short period of time because all trades of the tournament participants are processed buy our company's server. That they are not sent to the interbank significantly saves time for transmission of orders and receipt of execution messages.
• In terms of paid tournaments, a type of tournaments our company holds, financial security of users is now at a qualitatively new level as all funds of the tournament participants are kept in the company's account rather than transferred to other financial institutions. All money transferred by participants as a membership fee for participation in paid tournaments is, instead of being used by the company, distributed among traders right after the tournament is over.
• Transparency of all transactions. As the prize fund of each tournament is created by traders themselves, its growth and appropriate distribution raise no issues.
Market Leader: There was a phrase that forex tournaments were invented by FOREX MMCIS group. So, this is your 'know-how'?
Olga: Yes, without exaggeration. Holding traders' tournaments is a patented technology legalized in over 30 countries. Our company conceived the idea, invented this technology and owns exclusive rights to hold forex tournaments. Use of patented technologies by any other company will be illegal and, therefore, criminal.
Market Leader: Everyone's aware that the money you will in traders' contests is hard to withdraw as you have to meet a number of conditions to use it the way you like. What is the case in your company?
Olga: Yes, you're absolutely right. Money traders made during contests could not be withdrawn as dealers treated them as bonuses.
We are happy to announce that FOREX MMCIS group applies no limitations whatsoever to withdrawal of funds received by winners of freerolls and paid tournaments alike. The trader can withdraw funds using any convenient method offered in the Personal Cabinet without any limitations right after the tournament is over. Undoubtedly, everyone, in particular, beginners who will now find it easier to move to trading real money will appreciate this novelty.
Market Leader: FOREX MMCIS group is the only operator in such a promising niche as forex tournaments. Would you like to become a beginners' guide in the forex world?
Olga: Our company offers beginners a unique change - participate in tournaments and make money without a startup investment. Registration is quite simple and will take a few minutes only. Tournaments are open absolutely to all registered users of FOREX MMCIS group.
It has been obvious to everyone for a long time that things keep developing, and new and improved technologies are being created, including for trading in the foreign currency market. The service offered by FOREX MMCIS group will surely be useful for many traders, especially beginners. Of course, one can doubt for a long time if there is a need for tournaments or not. It is much more effective to take part in them yourself and see the process as an insider, particularly if this requires no financial investment.
Now traders have a whole set of additional opportunities to:
• participate in forex tournaments absolutely free of charge
• make their first capital with no initial investment
• make up to 100% an hour
• withdraw their win without any limitations
• have a one-on-one fight with their rival
• create the prize fund themselves.
From the Editor's Office: FOREX MMCIS group was set up in 2007. It was initiated by MMCIS investments, an investment fund.
During its operations, MMCIS investments' management noticed the desire of many people to personally control their risks and make independent decisions. This is why the fund set out to create a separate unit intended to offer its clients all advantages of trading in the forex market. It took some time for this unit to evolve into a dealer - FOREX MMCIS group.
Mitchell Nunis is the company's President. He is a professional trader and a Professor at New York Academy of Stock Market Trading.
Tatiana Dementieva
