ForexCup competition

ForexCup competition

Forex Traders Competition is a type of activity, when participants, having equal time limits and rules, compete against each other in Forex trading.

Trading is performed in a Demo account. So, traders do not bear the risk of losing real money. 
Competitions can be created by the ForexCup Administrator or the Manager.

Competition Types

  • Public - a competition available for all traders who want to participate in it. 

  • Private - a competition protected with a password. The password can be published in a news article or thematic post on forum. 

Sometimes special invitations can be sent by Administrator to invite traders to participate in some private competitions. 

Competition Levels

ForexCup offers two types of competitions:

  • Level 1 Competitions. Any registered FXOpen user is able to take part in the first level competitions. No fee is required from a trader to join a level 1 competition. Although no trader is required to pay the entry fee, participation in these competitions may bring you a money prize if you take a prize place or gain maximum profit. The prize fund for the first level Competitions is set by the Administrator or by Managers.
     
  • Level 2 Competitions. Traders willing to take part in such competitions have to pay an entry fee defined by a competition creator (the Administrator or Managers). Prize fund of the second level Competitions is composed mainly of the entry fees paid by the traders taking part in the competition. Thus the money bonuses awarded to traders who took prize places in a level 2 competition are usually more sufficient than the ones a trader can count on participating in a level 1 Competition. 

Competition Statuses

A competition at any point in time may have one of the statuses listed below:

  • Registration Started ― the registration of participants in this competition has already started but has not ended yet.

  • Registration Finished ― the registration for this competition has already ended, but the competition itself has not yet started. At this point the trading rooms are being reviewed and those ones that do not comply with the rules will be deleted and entry fees will be returned to traders’ accounts.

  • Running ― the competition has already started but has not yet ended.

  • Finished ― the competition has ended; the competition results are being analyzed and will be announced by the administrator within 48 hours from its end.  

Participation in Forexcup Competitions

  1. Choose a competition from the list of 'Available competitions' on the Tournaments tab.

  2. Learn the competition parameters

  3. Click Join.

  4. Enter the credentials: (e-mail and password for FXOpen eWallet).

    We strongly recommend you to check your FXOpen eWallet balance before joining the Level 2 competition. Please, add funds to your eWallet first to be able to pay the Entry fee.

  5. You will join the competition. Your STPMicro account will be automatically added to the ForexCup User Profile as the account for transferring profit bonuses (if any gained in the contest).  

    *If you do not have a trading account, STP account will be created for you once you click Join.

  6. In the pop-up box there will appear the following important information: competition name, room number, your login and password for demo account, and server address. 

    *You will get an e-mail containing all the necessary information on the chosen competition and a demo account on which you will be trading during this competition.

  7. Demo account becomes active for trading only during the competition period ('Running competition'), it means that your demo account will be blocked before the competition start and immediately after its finish. 

Competition Results

Intermediate and final results of the ForexCup competitions are displayed in the 'List of members' table. Click any trader name or demo account to get detailed information on the trading activity and results (gained profit, current balance, statistics) of the chosen trader/account.

The final results are summed by the Administrator within 48 hours after the competition has finished. Once summed up, the competition results will appear in the "Past competitions" list.

Prize money intended for the competition winner/ winners are transferred to the traders' FXOpen eWallet, but bonuses for profit are credited to traders' trading accounts (STP/ Micro).

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