Every trader strives for stable and most profitable trade at Forex market. However, by no means all manage to realize such plans, especially beginners, most of whom are apt to inconsiderate acts, dictated by the lack of work experience at financial market. What is more, some traders are subject to emotions, consequently, taking, to put it mildly, unwise trading decisions.
How to Become a Forex Professional Quickly?
In order to reach success at the largest and most progressive Forex market, you are to have clear vision of market mechanisms, know how to use technical and fundamental analysis depending on every concrete situation, and work rationally with charts and indexes, which allow making accurate forecasts.
Besides, successful work requires a trader to have a flexible trading strategy, which considers the optimal correlation of risk to expected profitability on chosen assets. You are also to have the skill of quick and effective analysis of current trend and its perspective in order to choose at a certain time the best trading instrument with the best conditions for entering the market, keeping the position open, and quitting the market.
This is certainly hard to grasp in one day, especially if one studies the intricate, overloaded with specialized terms literature on his own. What is more, there is no guarantee that the studied material is not outdated and that you are not wasting your time.
Nevertheless, there is a way to grasp the specifics of effective and profitable work at Forex market quickly and effectively. At the same time, one will get profit by trading in real market conditions. Such option is offered by one of the world’s largest forex brokers XM company (trade name – Trading Point of Financial Instruments Ltd).
The broker that has licenses of most highly authoritative financial regulators, including FSA, CySEC, MiFID, etc., has realized the first ever Contest Arena at Forex market, which has become the greatest event in the industry. Every participant of the project gets 20 dollars granted from the company, which he may either output, or use for increasing his trading volume and, consequently, getting higher profit. The “Market Leader” has met an XM representative in order to find out about the innovative project of the broker and terms of participation in Contest Arena.
Contest Arena – Traders Choose Terms, Time, and Prizes
“Our company has always worked with orientation to real needs and wishes of its clients,” says Business Development Director of XM company Andreas Pouroutis in his interview to the “Market Leader”, “therefore, we regularly offer best trading terms and opportunities for every trader despite his work experience at financial markets. The fact that our services correspond to the world’s highest standards and the level of clients’ means security equals to 100 percent is proved by licenses from most highly authoritative and demanding world’s regulators such as FSA, CySEC, and MiFID.
At present time traders in over 200 countries worldwide, which cooperate with ХМ, get high and stable profit, and their beginner colleagues smoothly enter new levels of their trade without any expenses and delays; they get high profit at minimal risks and, consequently, quickly become professionals.
This is favoured by the company’s numerous innovative technologies, among which great popularity is given to exclusive trading platform XM MAM, as well as terminals for mobile and fixed trade. The platforms include МТ4, Web-trader, multiterminal XM MT4 (opportunity to manage over 100 accounts from one platform), and other.”
“It is also worth mentioning,” highlights Mr. Pouroutis, “that ХМ encourages its clients with generous bonuses for trade; they may even be given in the form of 100% of company’s means for a replenishment (for more details read “XEmarkets: Invest in Traders’ Accounts 100% of Our Means”). Besides, our company has a compensation fund for investors, and trading terms for traders, including beginners, are most optimal, for we have no requotes or slipping, trading risks are minimal, clients’ orders are instantly transferred to he largest providers of liquidity, and we have narrowest spreads and no commission fees.
However, activity of XM company is characterized not only by new trading technologies, but also steady improvement of trading terms. In order to support traders, beginners included, we have realized a number of unique stimulating programs, which help our clients to grasp all nuances of Forex market quickly and effectively, thus getting best trading ever.”
“In this reference, an XM Contest Arena XM , has become one of the most global and attractive projects,” explains Andreas Pouroutis, “which has no analogues; this is an absolutely new unique project of Forex market, which represents a single ground, which includes hundreds of various contests, participation in which is available to anyone.”
Features of Contest Arena:
− A traders can choose the number of participants;
− One may choose convenient time to start contests and their duration (from 15 minutes to 1 month);
− You may partake in free and paid contests alike;
− A traders can choose from hundreds of various contests, depending on his trading style, terms of tournaments, duration, and prizes;
− You may partake in any amount of contests at the same time;
− Wide variety of trading instruments;
− Opportunity to use trading advisors;
− Money prizes may be output right away;
− A trader is provided with a choice of several most up-to-date trading platforms: MT4, WebTrader, and Mobile.
Other Features of Contest Arena
“Contest Arena offers hundreds of trader contests, which are divided into two main categories,” says Mr. Pouroutis, “they are:
1. With fixed number of participants – a certain number of participants is required for this category, and the contest starts only when this requirement is fulfilled.
2. Scheduled − contests from this category have a set starting time. The contest starts despite the number of registered traders.
Besides, the contests are classified by the following types:
− Standard − they are ideal for beginner traders, who want to try hand at a typical contest. These contests follow the typical scheme.
− With guaranteed prizes − contests with highest money prizes. Each of them has a guaranteed prize fund, which is divided between several winners in correspondence with the places won. In this reference, the prize fund is unlimited and may reach millions of dollars as far as the number of registered participants is rising.
− Face to face – duel of traders, when participants compete with one another.
− Race − contests end at the moment when equity of one of the traders reaches the previously set sum. If none of the traders reaches this point by the time the contest is over, the prize fund will be distributed by the standard scheme.”
“But, there is more. From now on a trader, registered as a participant of XM Contest Arena,” adds the broker representative, “gets 20 dollars granted from our company; this sum is automatically transferred into his account. If this is the first time you open a trading account in our company, you are to do the following:
− Open an account;
− Enter a Personal Cabinet;
− Register your nickname and get 20 dollars.”
“Clients who already have trading accounts in XM company are only to effect two last actions,” explains Mr. Pouroutis.
“The 20-dollar bonus may be used in Contest Arena for buying tickets to any contests. Tickets are access to certain paid contests (there also are free ones). In this reference, the major part of the payment makes up the prize fund, whereas a considerably small amount is a reward of the organizers (both sums are indicated in terms of participation for every paid contest).
Consequently, the higher the price of the ticket, the higher the prize fund of the contest is; it is divided between several winners, and you may easily become one of them,” specifies the “Market Leader” interviewee.
Most Popular Tournaments of Contest Arena
“At present weekly trader tournaments Big Free and Big Small may be called most popular within the framework of XM Contest Arena,” says Andreas Pouroutis.
The first one is hold every Monday on a free basis; its prize fund amounts to 500 dollars. However, there is one nuance, only those traders who have spend over 20 dollars on contest tickets during the previous week. At the same time, the free capital provided for participation in contests is not taken into consideration.
Registration for Big Free starts one week before the contest itself. You may also register for the contest after its start, during the first 15 minutes. Duration of the tournament is 1 hour. Starting balance is 10 000 dollars, and trading instruments are Forex market assets.
The money prize of Big Free contest may be output immediately. You may also spend the money won on tickets for other contests or on your trade at financial markets. This will help you to considerably increase your trading volume and, consequently, get high profit.
Big Small contest is a competition with a guaranteed prize fund of 2 000 dollars. Every participant is given a chance to win a considerable money prize by paying a small price (5 dollars + 50 cents). The contest is held every Thursday and lasts for 4 hours; its starting deposit is 10 000 dollars.
You may use any financial assets, and even apply trading advisors. The more traders partake in the contest, the higher the prize fund is. In this reference, the prize of every winner will be higher; therefore, 2 000 dollars is a minimal sum of a prize fund, which may rise endlessly.
Registration for Big Small tournament starts two hours before the contest. “However,” admits Mr. Pouroutis, “one may register during the first hour after the start of the contest.” Similarly to Big Free, the money won may be either output immediately, or used for buying tickets for other contests, or used for trade at financial markets.
Participation in these, as well as hundreds of other tournament of Contest Arena project, is available to beginners and professionals alike. For more details about terms and registration, as well as illustrations and video materials, see the special section of ХМ official web-site, devoted to Contest Arena.
“We are convinced that every trader will find the contest he likes from the endless variety of tournaments in Contest Arena. By studying Forex in practice and earning money at the same time you will manage to become a professional within the shortest time and get stable and high profit at financial markets,” concluded Andreas Pouroutis.
