FXCM Africa Trading Contest

Win Cash prizes or FXCM Apps Coupons

Simple rules, easy to Join!

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Do you have what it takes to be FXCM's Top African Trader?

Join our Monthly trading contest for a chance to win Cash prizes or FXCM Apps Coupons!

CONTEST HIGHLIGHTS

  • $1,000 in monthly Cash Prizes & $700 in FXCM Apps Coupons are up for grabs
  • Monthly Contest, Automatic Registration if you meet the entry criteria.
  • Simple rules: Best Percentage return wins
  • Trade Bitcoin, Forex, Stock Indices & Commodities from one account
  • 1K lot sizes & up to 400:1 leverage
  • Dedicated local support teams and financial market specialists

Leaderboard | November

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#   COUNTRY GAIN THIS MONTH*
1 South Africa 133.13%
2 South Africa 112.45%
3 South Africa 103.25%
4 South Africa 97.42%
5 South Africa 80.7%
6 South Africa 76.95%
7 Nigeria 69.4%
8 South Africa 66.26%
9 Tanzania 51.97%
10 South Africa 50.57%

Last Updated: 11-18-2018 17:00 EST

Past Winners - October 2018

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#   TOWN COUNTRY GAIN PRIZE
1 Lenasia South Africa 137% $500
2 Pretoria South Africa 117% $250
3 Groblersdal South Africa 59% $250

*Past Performance: Past Performance is not an indicator of future results.

The prize winners will be the ten Eligible Traders, who have neither opted out nor been disqualified, with the highest percentage gain over the course of the Month.

The leaderboard is for indicative purposes only. Factors that may lead to ineligibility (For example, but not limited to, Margin Calls, minimum Equity and minimum executed orders) may only be factored in at the end of the contest period.

The leaderboard does not represent a typical contestant’s return. Positive returns are not guaranteed. All contestants have the potential to experience losses in excess of deposited funds.

Remember Leverage is a double-edged sword and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange with any level of leverage may not be suitable for all investors.

How do I Sign up? Am I eligible to enter the contest?

  • Every eligible client is automatically registered at the beginning of the month. It's that simple. Terms and Conditions apply*
  • To be eligible for contest you need to have an FXCM live account with a minimum equity of $500 at the beginning of the contest.
  • If you do not meet the equity criteria at the beginning of the contest you are able to deposit the equity difference at any time during the month.
  • If you would like to confirm if you are eligible or don't know your start of month equity then please contact our live support.

Ready to be the next FXCM's Top African Trader?

What are the rules? Can I be disqualified?

  • For the purposes of the Contest, the monthly percentage gain will be calculated utilizing the following formula:
  • Your account equity at the start of the contest + any deposits during the month, need to equal at least $500 USD.
  • In order to qualify you need to have a minimum of 10 executed orders (any size) per month.
  • Only one account per trader will qualify, if you have multiple accounts, only the most profitable account will be considered for a prize.
  • Any trader who receives a margin call during the month will be disqualified.
  • Any withdrawals or transfer out of the account during the competition month will rule the account ineligible for a prize.

Please read our FAQ’s and Terms & conditions below for more competition details.

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WHEN DOES THE CONTEST START?

The contest officially begins September 2018, and restarts each month. The monthly start and stop time is 17:00 Eastern United States time on the last trading day of each month. All live account holders who are eligible are automatically registered into the contest.

HOW DO I WIN?

The FXCM Africa Trading Contest is based on your monthly total return (percentage gain), calculated using this formula:

This is simply your trading profit from the month in relation to your account equity at the start of the month, including any mid-month deposits.

For example:

At the beginning of the month your equity is $880.50.

At the end of the last trading day the equity in your account is $1895.60.

During the month you made a deposit of $200.00.

In this case your monthly total return (percentage gain) is:

(815.10 / 1080.50) = 75.44% return

 

The account with the highest monthly return each month shall win the contest. This means that irrespective of your account equity you still have an equal chance to compete and win.

HOW MUCH MONEY DO I NEED IN MY ACCOUNT TO ENTER THE CONTEST?

The minimum equity required is $500.

This is calculated by your equity at the start of the contest + any deposits made during the month.

Example A:
If your equity is $820 at the end of the trading day on Friday 31st of August, you will automatically enter September’s competition.

Example B:
If your equity is $335 on Friday 31st of August, you will need to deposit $165 at any stage during September to become eligible.

 

Traders whose equity increases above $500 during the month from trading activity alone will not become eligible and would still need to deposit the difference between $500 and their equity at the start of the competition to become eligible.

Please note: Equity is your account balance plus the floating profit/loss of your open positions.

Starting equity can be seen, by logging into www.myfxcm.com and running a report for the last day of the previous month.

CAN I ENTER THE CONTEST MID-MONTH?

Yes, if you fulfill the above equity criteria.

ARE THERE ANY OTHER CRITERIA?

Yes, you need to have 10 executed orders for the month to qualify.

I DON'T LIVE IN SOUTH AFRICA CAN I STILL ENTER THE CONTEST?

Only clients of FXCM ZA are eligible.

FXCM ZA accounts are available only for clients from the following countries:

Angola, Botswana, Gambia, Ghana, Kenya, Lesotho, Malawi, Mauritius, Mozambique, Namibia, Nigeria, Sierra Leone, South Africa, Swaziland (Eswatini), Tanzania, Uganda, Zambia

AM I RESTRICTED ON TRADING STYLES, CURRENCY PAIRS OR CFDS DURING THE CONTEST?

No, all trading styles are accepted.

CAN I BE DISQUALIFED?

Yes, Withdrawing or transferring out funds from your account or receiving a "Margin Call" will disqualify an otherwise Eligible Trader from the Contest for that Month.

CAN I WIN MORE THAN ONE PRIZE?

No, only one prize per Month is allowed per account holder or trader. For clients with multiple accounts only the best performing account will be eligible.

WILL I BE NOTIFED IF I WIN?

Yes, FXCM will contact all winners within 10 business days of the end of the competition, either by phone or email. Please ensure your contact details are correct.

HOW ARE PRIZES CREDITED?

Cash prizes are credited to your FXCM Trading Account.

Voucher winners will receive via email a coupon code. Please read the “FXCMAPPS.COM VOUCHERS” section for more information on Redeeming Vouchers.

WHEN DOES THE TRADING DAY START?

The recognized trading day for forex is standardized globally and always begins and ends at 17:00 Eastern United States time (NY Time).

WHAT IS A MARGIN CALL?

A Margin Call is when your equity drops below your Margin Requirement and as a result one or more of your open positions are forcibly liquidated.

Margin calls often occur due to over leveraging. Leverage is a double-edged sword and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange with any level of leverage may not be suitable for all investors.

RISK WARNING:

Trading forex/CFD's on margin carries a high level of risk and may not be suitable for all investors as you could sustain losses in excess of deposits. Leverage can work against you. Before actively participating in this contest or trading any products offered by FXCM South Africa (PTY) LTD (“FXCM”), you should be aware and fully understand all risks associated with the market and trading and carefully consider your financial situation and experience level.

ENTRY AND CONTEST ELIGIBILITY:

In order to be eligible for FXCM Africa Trading Contest (the "Contest"), you must:

  1. be over eighteen years of age or over the age of maturity in your jurisdiction;
  2. be a new or existing retail client of FXCM, with an active account, such account always being subject to FXCM’s Terms of Business, and which must not be subject to any dispute or default during the Contest Period (defined below);
  3. reside in one of the following countries: Angola, Botswana, Gambia, Ghana, Kenya, Lesotho, Malawi, Mauritius, Mozambique, Namibia, Nigeria, Sierra Leone, South Africa, Swaziland (Eswatini), Tanzania, Uganda, Zambia;
  4. be utilizing either of FXCM's Trading Station or MT4 platforms;
  5. have equity of $500USD or equivalent in your account at the start of the Contest Trading Period. Clients that do not have $500USD or equivalent in their account at the start of the Contest Trading Period are able to deposit the required funds at any time during the Contest Trading Period. If the sum of monthly deposits and equity at the start of the Contest Trading Period is in excess of $500USD or equivalent, the account will be considered eligible.;
  6. agree and comply with these Contest Rules.

Other:

  1. only one prize per Month is allowed per account holder or trader. There is no registration form or entry fee required;all live and eligible FXCM Accounts (the "Eligible Traders") will be automatically entered into the contest;
  2. in order to receive a prize for any given Month an Eligible Trader must complete a minimum of ten (10) orders regardless of trade size, during such Month.

DISQUALIFICATION:

Withdrawing or transferring out funds from your account or receiving a "margin call" will disqualify an otherwise Eligible Trader from the Contest for that Month. FXCM shall have sole discretion to disqualify any otherwise Eligible Trader found in violation of these Terms & Conditions (the "Contest rules"). FXCM, in its sole discretion, may disqualify any Eligible Trader for any reason.

CONTEST TRADING PERIOD:

For the purposes of the Contest, the trading month (the "Month") officially begins at 5:00 PM Eastern Standard Time on the last day of the previous calendar month and ends at 5:00pm Eastern Standard Time on the last day of each calendar month.

CONTEST OPT-OUT:

Eligible Traders are not required to participate in the Contest. Eligible Traders can choose to opt-out of the Contest at any time before, during, or after the Contest. Prior to opting-out, all Eligible Traders are subject to the Contest Rules. To opt-out, please contact us via e-mail at: This email address is being protected from spambots. You need JavaScript enabled to view it..

Once an Eligible Trader opts out via the process set forth in this Section, such contestant will be disqualified from the Contest (not just for the Month in which such opt out is received) until FXCM receives notice otherwise.

DETERMINATION OF WINNERS AND DAILY PERCENTAGE GAIN:

For the purposes of the Contest, the monthly percentage gain will be calculated utilizing the following formula:

The prize winners will be the three Eligible Traders, who have neither opted out nor been disqualified, with the highest percentage gain over the course of the Month (the "Monthly Winners").

Monthly percentage gain is derived solely from trading activity.

PRIZES:

Each month prizes will be given to each of the Monthly Winners in the following amounts within thirty (30) calendar days of the end of each Month:

1st Place Monthly Winner: $500 credited to your trading account

2nd and 3rd Place Monthly Winner: $250 credited to your trading account

4th-10th Place Monthly Winner: FXCM App Store voucher of $100USD value for FXCM Developed Apps.

Prizes will be awarded in currency denomination of your existing account. Prize money will be converted from USD to the currency denomination of the prize winner’s account at a rate set by FXCM in its sole discretion.

FXCMAPPS.COM VOUCHERS

FXCMAPP.COM vouchers cannot be applied to previously placed orders and are not transferable or redeemable for cash or credit.

A coupon code may only be applied towards certain FXCM Apps, which are specified by FXCM from time to time. Apps developed by Third Parties (not developed by FXCM) are excluded from coupon codes unless otherwise specified.

To apply a coupon code, you must enter it prior to completing the order and coupon codes cannot be used in combination with other coupon codes.

Coupon codes can only be used once. If you want to redeem the full value of a coupon code, you must apply the code to a shopping cart containing FXCM-developed app(s) with a Subtotal equal to or greater than the value of the coupon code. If you complete a purchase for less than the face value of the coupon code, any unused difference between the actual amount of the discount received and the maximum amount will be forfeited.

LIABILITY AND COMMUNICATION DELAYS:

FXCM shall not incur any liability to you in connection with this Contest due to reasons beyond FXCM’s reasonable control, including (but not limited to) any problems with the acceptance or transmission of orders due to a breakdown or failure of transmission or communication facilities, or any applicable instrument being delisted or changed substantially.

CONTEST TRADING REGULATIONS:

The purpose of the Contest Rules is to ensure that every Eligible Trader has the same opportunity for success in the Contest as other Eligible Traders. FXCM reserves the right to amend, waive, suspend, terminate or interpret any portion of the Contest Rules in its sole discretion, and at any time without prior notice. In such event, FXCM will make reasonable efforts to notify you by email.

USE OF CONTEST FOR PROMOTIONAL PURPOSES:

To be eligible to receive a prize pursuant to the Contest, a Monthly Winner must be willing to permit their initials, location, winner’s survey and trading record ("Trader Information") for the Month to be published and/or distributed by FXCM, its agent and successors during and after the life of the Contest.

Personal information such as, but not limited to, your full name, address and account number(s) will not be published.

If a Monthly Winner chooses not to permit publication of his or her Trader Information such Monthly Winner must opt-out pursuant upon being contacted by FXCM or FXCM's agents or representatives. Upon opting-out, such Monthly Winner shall forfeit any prize money due to them pursuant to the Contest for the Month in which such prize money is due.

POSTPONEMENT OR CANCELLATION:

FXCM reserves the right to extend the trading period of each Month, to postpone the starting date of each Month, or to cancel the Contest if, in FXCM's sole discretion, it determines that such action is reasonable or necessary.

TAXES:

Monthly Winners are solely responsible for all federal, state, and local taxes due because of any prizes received.

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