The World’s First Forex Contests Platform

Margin is the amount required at the start of every trade which is collateral for any credit risks which may arise while trading. It is expressed as a percentage of the position size and traders must ensure that they have adequate funds to cover this requirement. Due to the trading tournament format of the broker’s operations, trading fees such as commissions will not apply in this case. To enter any of the contests available from within the FX Arena, traders must open an account with the broker and purchase a ticket for the tournament.

Since the broker is set up as a facilitator of online Forex tournaments, it is unlikely that it would participate in awards schemes. The forex market is open for trading 24-hours a day from 10pm on Sunday to 10pm on Friday. That means with FX, you can build your trading strategy around your schedule, instead of having to conform to when a stock exchange is open. You’ve probably traded a currency if you’ve ever bought goods overseas, for example, or gone on a foreign holiday. Increase your knowledge and gain valuable insight with our complimentary suite of in-depth educational articles detailing all aspects of forex trading.

Our platforms are well-equipped to handle the spontaneous market stimulation that comes with each piece of breaking news worldwide. FX Arena is a forex trading contest platform featuring daily non stop 24/5 contests and competitions. Enjoy Unlimited Contests with the FX Arena innovative unique user-friendly interface that makes easy to get started and take part. No, due to the trading tournament format of the broker’s operations, trading fees such as commissions will not apply in this case. So, while there are no traditional bonuses available for loyal customers, the broker runs regular contests of which it could be argued resemble online poker tournaments in some respects.

Forex trading, or currency or FX trading, involves the currency exchange market where individuals, companies and financial institutions exchange currencies for one another at floating rates. This prevents brokers from providing the retail client with a payment, monetary or excluded non-monetary benefit in relation to the marketing, distribution, or sale of a CFD, thus ruling out the offering of such bonuses. Late registrations are also accepted within the first 3 days of the contest’s duration, which means that traders can still join even after the contest has started. At the time of writing, the broker is running a Big $ Special Forex Contest, which is touted as the broker’s flagship event with a guaranteed prize pool of at least $50,000. Leverage is a tool which allows the trader to open larger positions in addition to providing the trader with larger exposure to the market in which they are trading regardless of the trader’s initial deposit. When evaluating a broker, it is imperative to look at the fees which are charged.

Market volatility, volume, and system availability may delay trade executions. Price can change quickly in fast market conditions, resulting in an execution price different from the price available at the time order is submitted. We have over two decades of experience in providing innovative products and helping traders achieve their goals. Forex is traded via a global network of banks in what’s known as an over-the-counter https://forexarena.net/ market – unlike shares and commodities, which are bought and sold on exchanges. Finding a reputable list of FX Arena demo account local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source. Movements in the price of foreign exchange and commodities are very unpredictable, hence FX Arena cannot guarantee a maximum loss that a trader may suffer.

TRADING PLATFORMS, SOFTWARE, AND ITS FEATURES

A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more. At the time of writing, FX Arena does not appear to offer a welcome bonus, either in the form of a deposit bonus or a no deposit bonus, to new traders who choose to register for a real account. A margin requirement is the amount of capital that the trader must put down at the start of the trade, or that they must have available in their trading account, as collateral for the trade.

• The margin requirement must be equal to or more than 100% for the position to be opened.
• Late registrations are also accepted within the first 3 days of the contest’s duration, which is great when you want to join the action after it has started.
• This makes the broker a very risky option for most traders, particularly due to the tournament nature of its offering.
• A Forex account is a trading account that traders hold with a specific broker with the purpose of trading financial instruments.
• You’ve probably traded a currency if you’ve ever bought goods overseas, for example, or gone on a foreign holiday.

At the time of writing, the FX Arena customer support portal was inaccessible, and only becomes available during Forex tournaments. However, the inability to contact the broker outside of tournament events is a troubling sign. This is a critical point when evaluating potential brokers to trade with as the broker must ensure that their traders have a variety of ways in which to contact support should they have queries, questions, or issues. Bitcoin is the digital currency with the largest market capitalisation and price levels and dominates 50% of the total crypto market cap. The tournaments hosted on FX Arena are facilitated by the popular MetaTrader 5 platform, which is a feature-rich and comprehensive trading tool.

Below is an in-depth Demo Account review regarding this regulated Forex company, which will assist traders to make an informed decision when it comes to using this broker’s platform and their trading interface. Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Not operating as a Forex broker in the traditional sense, FX Arena hosts online Forex tournaments in which multiple players can trade against each other in the hopes of winning big cash prizes. Education refers to all the learning material and tools offered by brokers which is imperative for traders in their trading activities, especially beginners. It provides traders with the necessary knowledge that they will need to become successful traders. This makes the broker a very risky option for most traders, particularly due to the tournament nature of its offering.

Hence, although no deposit bonuses are a fantastic way to help you start trading, the terms to benefit from it often require trading with such a high volume before you can withdraw profits, that it may not be worthwhile. For instance, should there be a 1% margin requirement on a position of $1,000,000, the trader must cover a margin requirement amount of $10,000. The margin requirement must be equal to or more than 100% for the position to be opened. Leveraged products, such as Forex, increases the potential profits of the trader, but it also increases the risks and subsequent losses that the trader may incur. The prize received by the winner will then be deposited into his FX Arena account, from which it could be withdrawn any time.

Earn up to $10 in cash rebates per million FX traded in monthly volume and get interest on your average daily available margin up to 5% APY. Late registrations are also accepted within the first 3 days of the contest’s duration, which is great when you want to join the action after it has started. There are hundreds of contests available to choose from, with a rich variety designed to suit all tastes and styles. The server is temporarily unable to service your request due to maintenance downtime or capacity problems. Bank wire transfers can take up to three working days, depending on the bank and your location, while online withdrawals can take up to ten minutes. FX Arena warns potential customers that Forex and CFDs trading carries a substantial risk and may not be suitable for all investors.

But throughout all that time we’ve remained steadfast, providing traders with the stability and opportunities they need to make their mark on the financial markets. Flexible account types give you the option of choosing a pricing model that best suits your trading style. As with currency exchange markets, commodity markets offer trading in contract-based forex arena tradable goods. While the broker states that participants can choose the type of instruments, they wish to trade in each tournament, unfortunately no further information is provided with regards to the selection of available instruments. On any given day, the pound might be rising against the dollar, while the euro falls against the Swiss franc.

FxGrow Account Types

Ethereum is the second largest cryptocurrency after Bitcoin and allows developers to create smart contracts on a platform. The high volatility of energy prices due to political, environmental and several other factors, is a typical feature of this product, making it a popular trading choice. As such, the instruments to trade will vary with the nature of each tournament. When evaluating brokers, the ease with which deposits and withdrawals can be made is another imperative factor to consider. That said, most contests have a minimum number of participants, fixed schedules, as well as entry fares. Diversify your forex portfolio in the Small Exchange and trade with the efficiencies of futures and the simplicity of options through our affiliate, FuturesOnline.

Differentiating itself from ordinary demo contests provided by Forex brokers, FX Arena allows traders to participate in numerous contests simultaneously. Demo accounts are not merely intended only for beginners, but it provides more advanced traders the opportunity to explore what the broker has to offer. No, FX Arena is suited to advanced traders who are skilled enough in trading to be able to successfully participate in a high-risk trading tournament. To assist in their trading endeavours, brokers offer traders with a variety of trading tools which can be used to refine their trading. A trading platform is a type of software which is used through which trading can be executed.

For how long is the demo account valid?

As such, traders who choose to sign up with this broker should be advanced or professional traders who are willing to undertake the risk of partaking in an unregulated Forex trading tournament. Brokers offer a variety of trading accounts, or they may only offer a single account, in which they provide certain trading conditions that appeal to a variety of traders according to their trading needs and objectives. The Big Free is a hugely popular contest with traders worldwide because it pays out real cash prizes, and yet is entirely free to enter. The contest has a duration of 4 days and allows late registrations within the first 2 days after it has started. Everybody is entitled to participate in the Big Free Forex Contest, starting on Monday every week for free. It’s perfect for people to put their trading skills to the test, without any risk.

Traders will be able to withdraw their winning using traditional bank wire, credit card, and unspecified online payment methods. For instance, if the pound is rising against the dollar, you might buy GBP/USD. When you buy this pair, you’re buying pound sterling by selling the US dollar . Then, if the pound continues to outpace the dollar, you can sell the pair to exchange your GBP back for USD and keep the difference as profit. However, there’s no physical location where these banks and individuals trade with each other.

The bonus usually compensates traders for choosing a certain broker, since once the account is active, the trader will have the same expenses as any other. The bonus usually only starts giving some expenses back to the trader once the person has proved himself as an active trader. This can be useful, but it is essential to discern what the conditions are to benefit from the bonus.

Forex traders buy and sell currency pairs to try and take advantage of this volatility and earn a return. With the One-Click Trading function and the Market Depth option, users can buy and sell currency pairs, equities, and futures with just one click. Advanced Market Depth feature (with a tick chart and Time & Sales information), a separate accounting of orders and trades, the support of all types of trading orders, and execution modes. No, unfortunately FX Arena is not regulated, and therefore the security of traders’ funds cannot be guaranteed in any way.

TYPES OF ACCOUNTS AND ITS FEATURES

Join the Active Trader program to enjoy waived bank fees for your wire transfers. Designed for instant control wherever you are, enjoy one-swipe trading, intelligent buy/sell signals, and a customizable layout to suit your trading style. By opening an FX Arena Account, you can gain full access to the FX Arena and take part in as many contests as you like, as often as you like.

As part of a NASDAQ-listed company, we’ve got financial strength and security you can depend on. However, there are times when the market is much more active, and times when it is comparatively dormant. Take advantage of one-on-one guidance from our market strategists to develop and maintain a strong trading strategy.

As such, it is not clear as to which currencies, particularly smaller currencies such as ZAR/Rand, will incur conversion fees. Trading tournaments from FX Arena are conducted from one single type of account. FX Arena warns that margin trading involves the potential for profit as well as the risk of loss.

What is the difference between a demo and a live trading account?

These often depend on numerous factors including the spread, commissions, and margin requirements. However, they have separated, and now FX Arena has made these tournaments available for any traders to participate. The platform is now owned by Genius Trading, a company based and registered in Anguilla, a UK territory in the Caribbean.

The Big Big is our flagship event with a guaranteed prize pool of at least $50,000. This is however, just the beginning because as more traders register to take part, the prize pool will keep growing with no limits on how big it can get. Kindly note that the FX Arena is not available for trading contests any longer. Hereby, we would like to express our thanks to all those who took part in all trading contests available on the FX Arena. FX Arena members own the right to choose which type of contest and how much they are willing to pay for a ticket in the FX Arena platform.