What do you think about FX contests? Is "First deposit" ($500) worth participating?
simply they suck -
fx trading is difficult enough wihtout this nonsense
Right, for experienced traders contests can be just a waste of time. However, contests can be a good start for begginer traders.
Here is the link to read more about the contest: Profiforex - Forex Market - Contests
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Have you ever participated in forex contests? It would be great, if you share your experience here.
What do you think about the "First Deposit" contest rules?
It would be nice to receive your comments before 7-13 February (when the contest will be held).
The contest is held for those who want to get their first real deposit and start trading on real money.
"First Deposit" contest rules:
The prize for the first place is $500.
The participation in the contest is free.
Trading platform: MT4
The first 10 places will receive prizes. The size of the prize depends on the entrant’s place on the list of winner
Prizes are allocated as follows:
First place: $500
Second place: $14
Third place: $13
Fourth place: $12
Fifth place: $11
Sixth place: $10
Seventh place: $9
Eighth place: $8
Ninth place: $7
Tenth place: $6
At the start of the contest, each participant will get $5000 in his contest account. The rules of the contest are simple: You need to increase your deposit and earn more than others.
The terms of trading are identical to real trading. The execution is as fast as on real accounts (since the same server is used).
Your suggestions and opinions are welcome. Thank you in advance.