By Kiana Danial
Published: April 21, 2011
(Watch VIDEO:
The Royal wedding is a hot topic, but you don’t have to be from a particular family or be in a certain country to be a king. FXCM Inc. (NYSE: FXCM) crowns a new king every month. King of the Micro is a forex trading contest for all FXCM Micro clients with a minimum of $500 in their account at the beginning of each month. To remain eligible, traders must execute a minimum of ten trades during the month. FXCM Inc. awards cash prizes every month to three Micro clients with the highest returns on their trades.
We interviewed the top three participants from the March contest to determine what set the "King of the Micro" apart from the second and third place winners. The three winners also shared their respective experience level, their preferred trading pairs, average trade holds, and the amount they invest in trading on a daily basis. Please join us in congratulating them.
Contest Winners
King of the Micro: Uhim Fan sees 1711.87% return* on his trades, wins $25,000 in cash
Forex Trading Experience: Four years
Preferred Trading Pairs: EUR/USD, USD/JPY
Average Trade Holds: Typically one to two days. Sometimes more than two weeks
Average Daily Trading: Two to four hours if there is an opportunity
Advice to Traders: Be patient. Never be complacent in victories or give up in defeats.
Uhim Fan trades both stocks and forex. He trades forex because of its fast pace in comparison to stock trading, its low costs, and news transparency. Read the March King’s full survey and trading report here: Forex @ DailyFX - FXCM Announces its Forex Trading Contest Winners for March.
* Past performance is not indicative of future results.
Second Place: Chao Wang gets 753.20% profit*, wins $
10,000
Forex Trading Experience: Six years
Preferred Trading Pairs: EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD
Average Trade Holds: A week to several months
Average Daily Trading: Over ten hours
Advice to Traders: Forex trading is no easy task and requires long-time practice. Stay calm and avoid looking for instant success. Read forex books, learn technical indicators, avoid guessing peaks and bottoms at random, and don’t speculate with the data. Also, don’t become greedy and implement a risk-control system for yourself.
Read the second place winner’s full survey and trading report.
* Past performance is not indicative of future results.
Third Place: Xiao Guo sees 448.63% return*, wins $5,000
Forex Trading Experience: Two years
Preferred Trading Pairs: Active pairs
Average Trade Holds: A few days
Average Daily Trading: Three hours
Advice to Traders: Be decisive when executing trades.
Read the third place winner’s full survey and trading report.
* Past performance is not indicative of future results.
About FXCM Inc.
FXCM Inc. (NYSE: FXCM) is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers worldwide.
At the heart of FXCM's client offering is No Dealing Desk forex trading. Clients benefit from FXCM’s large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution, and trading from real-time charts. FXCM's UK subsidiary, Forex Capital Markets Limited, also offers CFD products with no re-quote trading and allows clients to trade forex, oil, gold, silver, and stock indices on one platform. In addition, FXCM offers educational courses on forex trading and provides free news and market research through DailyFX.com.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Read full risk disclaimer.
Contacts
DailyFX
Kiana Danial,
646-432-2449
Financial Public Relations
kdanial@fxcm.com
FXCM Inc.
Jaclyn Sales,
646-432-2463
Vice-President,
Corporate Communications
jsales@fxcm.com
Published: April 21, 2011
(Watch VIDEO:
The Royal wedding is a hot topic, but you don’t have to be from a particular family or be in a certain country to be a king. FXCM Inc. (NYSE: FXCM) crowns a new king every month. King of the Micro is a forex trading contest for all FXCM Micro clients with a minimum of $500 in their account at the beginning of each month. To remain eligible, traders must execute a minimum of ten trades during the month. FXCM Inc. awards cash prizes every month to three Micro clients with the highest returns on their trades.
We interviewed the top three participants from the March contest to determine what set the "King of the Micro" apart from the second and third place winners. The three winners also shared their respective experience level, their preferred trading pairs, average trade holds, and the amount they invest in trading on a daily basis. Please join us in congratulating them.
Contest Winners
King of the Micro: Uhim Fan sees 1711.87% return* on his trades, wins $25,000 in cash
Forex Trading Experience: Four years
Preferred Trading Pairs: EUR/USD, USD/JPY
Average Trade Holds: Typically one to two days. Sometimes more than two weeks
Average Daily Trading: Two to four hours if there is an opportunity
Advice to Traders: Be patient. Never be complacent in victories or give up in defeats.
Uhim Fan trades both stocks and forex. He trades forex because of its fast pace in comparison to stock trading, its low costs, and news transparency. Read the March King’s full survey and trading report here: Forex @ DailyFX - FXCM Announces its Forex Trading Contest Winners for March.
* Past performance is not indicative of future results.
Second Place: Chao Wang gets 753.20% profit*, wins $
10,000
Forex Trading Experience: Six years
Preferred Trading Pairs: EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD
Average Trade Holds: A week to several months
Average Daily Trading: Over ten hours
Advice to Traders: Forex trading is no easy task and requires long-time practice. Stay calm and avoid looking for instant success. Read forex books, learn technical indicators, avoid guessing peaks and bottoms at random, and don’t speculate with the data. Also, don’t become greedy and implement a risk-control system for yourself.
Read the second place winner’s full survey and trading report.
* Past performance is not indicative of future results.
Third Place: Xiao Guo sees 448.63% return*, wins $5,000
Forex Trading Experience: Two years
Preferred Trading Pairs: Active pairs
Average Trade Holds: A few days
Average Daily Trading: Three hours
Advice to Traders: Be decisive when executing trades.
Read the third place winner’s full survey and trading report.
* Past performance is not indicative of future results.
About FXCM Inc.
FXCM Inc. (NYSE: FXCM) is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers worldwide.
At the heart of FXCM's client offering is No Dealing Desk forex trading. Clients benefit from FXCM’s large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution, and trading from real-time charts. FXCM's UK subsidiary, Forex Capital Markets Limited, also offers CFD products with no re-quote trading and allows clients to trade forex, oil, gold, silver, and stock indices on one platform. In addition, FXCM offers educational courses on forex trading and provides free news and market research through DailyFX.com.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Read full risk disclaimer.
Contacts
DailyFX
Kiana Danial,
646-432-2449
Financial Public Relations
kdanial@fxcm.com
FXCM Inc.
Jaclyn Sales,
646-432-2463
Vice-President,
Corporate Communications
jsales@fxcm.com
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