What is a Competition?

[Prezident]

http://crm.fxopen.com/KnowledgeBase/...petitions.ashx

Traders Competition – is a type of activity, when participants, having equal time limits and rules, compete against each other in Forex trading. Bonuses are usually awarded for successful results at the end of the competition.

A Competition is started by a System Administrator or a Manager. On creating a new competition, competition parameters must be specified and invitations to join the competition will be sent out to traders.



1. Types of Competitions
2. Competition Parameters
3. Competition Status
4. Competition Member’s Status




1. Types of Competitions

ForexCup competitions can of the following 3 types:

Type of competition Icon Descroption
One Against One Image

Two traders competing one against the other.
Team Against Team Image

Two teams of traders competing one against the other. The maximum number or team members may be limited by the Administrator.

Free for All
Image

A group of traders may participate but each trader trades individually. The maximum number of participants may be limited by the Administrator.




2. Competition Parameters




Name ― the name of the competition that is shown to traders, the Manager and the Administrator.


Type ― one of the three competition types listed above.


Min Lot Size ― the minimum volume that can be used for trading in the competition.


Max Lot Size ― the maximum volume that can be used to trade in the competition.


Start Debit ― the starting amount of virtual money that will be added to the member’s demo account.


Using Expert Advisers ― this parameter specifies if using Expert Advisors is allowed in this competition1 or not.


Leverage ― the borrowed to own funds ratio that must be maintained in members' accounts.


Maximum Orders ― the maximum allowed quantity of simultaneous active orders.


Status ― see Competition Status.


Rating (Competition Rating) ― the total number of participants in all subscriptions to this competition.


Manager ― the information about the person who created the competition (name and e-mail).


Pairs of Currencies ― currency pairs or other instruments (e.g. gold or silver) that can be traded in this competition.


Prizes ― the monetary award paid to the most successful traders at the end of the competition.


Image Please, note! Prize money for Level 1 competitions is indicated in USD (absolute value), while for Level 2 competitions, prize money depends on the number of participants and is indicated in percent from the total prize money pool.


Registration (Start Date, End Date) ― the date and the time when the registration for this competition starts/ends.


Competition (Start Date, End Date) ― the date and the time when this competition starts/ends.


Fee ― the amount of money a trader is required to pay to take part in the competition2.


Commission ― a fixed percentage of the entry fees paid by all participants of the competition round that is charged by the Company and is transferred to the person who created the competition3.


1 A trader can use expert advisors only if it is allowed by Competition Rules. If unauthorized use of the expert advisers has been uncovered the trader will be suspended from participation, will receive 1 Loss point and -100% of Total Profit


2 Only for Level 2


3 Only for Level 2



3. Competition Status

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 Competition Subscriptions as well as the number and the make-up of Trading Rooms is being reviewed (see Competition Rounds) Subscriptions and Trading Rooms that do not comply with the Rules will be deleted and entry fees will be returned to traders’ accounts.

Competition Started (Running) ― the competition has already started but has not yet ended.

Competition Finished ― the competition has ended; the competition results are being analyzed and will be announced by the administrator within 2 days from its end.







4. Competition Member’s Status


ForexCup allows for two types of competitions.

None ― this status is assigned to traders in any newly-created competition, until they express their willingness to participate in it or join at least one of the competition rounds (see Competition Rounds).

Member ― traders may get this status in one of the two cases:
if they decided to participate in one of the competition and clicked Add me;
if they have been invited to join this competition by another trader or other traders or by competition creator.

Player ― traders may get this status in one of the two cases:
аfter they have confirmed their final decision to take part in the competition and have accepted an invitation from another trader by clicking Accept;
аfter they have created a competition subscription of their own and confirmed their participation by clicking Save and Accept.

[mbelajarmorek]

Dear TS/Prezident,
I have two accounts of demo competition (profitable week & fx market masters november).
How do I use these two accounts in the same time (such as for opening/closing transactions)?

[Alice]

Dear TS/Prezident,
I have two accounts of demo competition (profitable week & fx market masters november).
How do I use these two accounts in the same time (such as for opening/closing transactions)?

You can't trade on 2 accounts at the same time on the same platform. You can have 2 accounts within one MT4 platform , but each time you need to open/close a trade on one of this accounts you need to switch between them and relogin. To trade on both account at the same time you need to download second platform. Download it to different folder from the existing MT4 platform and give it different name, for example MT4 ECN2 ( something like this) . In this case you will be able to open 2 platforms and operate on both accounts simultaneously.

[nonamer]

please can new members join this game, i like and want to join

Yes you can join in forexcup contest, please go to forexcup website to check more detail.
or check here
http://forum.fxopen.com/showthread.p...l=1#post552118

Remember you must have Live account before you can login into forexcup, so open new live account 1st.

ty

[denmas]

Dear sir,

I ever registered for FX Market Masters February,but I lost my account password.Three times I emailed support and finance fxopen but they never respon my email till I've write this message,two weeks later.where's can I get my new password for that competition's account ?

[widhie75]

Dear sir,

I ever registered for FX Market Masters February,but I lost my account password.Three times I emailed support and finance fxopen but they never respon my email till I've write this message,two weeks later.where's can I get my new password for that competition's account ?

I also had lost my password, I accidentally delete forexcup confirmation email ,,, then I sent an email to viachaslau.matsias@ ...org , for asking password again,,,,,,, and he will help you by sending a new password but same login account.
(fill email address with fxopen.org)

[BadGenarotux]

Hi there,

I'm Mua Chung. I am coming from Vietnam. It is great to enroll in forum.fxopen.com forum. I sooo want to connect with others and also gain knowledge from the professionals here.

[Danil]

denmas, write me a personal letter with your login

welcome BadGenarotux

[nahiyar]

Well, I have been continuously participating in the weekly and monthly contest of FXopen for last 4 months.Though I have never won any prize, but I am sure that I will win the prize this week..

[RahmanSL]

I have partake in one single competition with FxOpenCup and was registered & been invited for another...but since the end of that competition (and I am still completely in the dark about ratings), I am completely lost and don't have the time to go through the maze of do this-do that, and log-in here and log-in there inside that cabinet and I just gave up.

I believe more forumers/participants would participate in these competitions if the cabinet is designed to be simple and easy/user friendly to use and to navigate around.

Check out the competitions running at some rival broker's site, especially that broker starting with "Ex...." (have to do this due to rules in FxOpen against naming rival brokers) and you will see that all the necessary information are there and everything is instantly display to check ranking, other competitors ranking & account status, etc....plus upcoming competition(s) and whether you are participating and, if you are not, to click on a button to fill in your e-mail, user name, etc and that's it...you are in the next competition. No maze of graphics and confusing flashing arcade lights.

Just keep the log-in cabinet simple, user friendly, and straight to the point.
=========================

Forgot to add:

That competitor broker's competition is for far less money than what FxOpen offers, but YET attracted more than 400 participants.
You have to ask yourself the question: WHY is that so??? With higher (and more) prize monies being offered, FxOpen's competitions should have far more participants, but.....!!!!

[Danil]

We have already begun to refine the project and we hope that soon we shall show updated Forexcup. If you have specific suggestions, we'd like to hear their.

[RahmanSL]

For practical, yet, simple ideas, I suggest you go take a look at that rival broker (whose name I cannot mentioned here but start with Ex....) competition site.

I know all those graphic designs and flashing lights etc, etc might be nice to have and to look at, and gamers-traders/graphic designers would be perfectly at home and have absolutely no problem in navigating around the site...plus, they probably have loads of time on their hands.

But for serious or wanna-be traders who have no such practical experiences and limited time, it becomes a confusing and complicated process just to know where to go, to register, get confirmation of registration, etc, etc.

BUT, it's you guys site and I am just telling it like what I have experienced.

The bottom line is, you guys want as many competition participants as possible, but if you don't make the process of registration & conformation simple and user friendly enough, then you will continue to get only a handful of participants.

[dissamadu]

can everyone get money or something by joining to a Competition?

[RahmanSL]

Yes, you get real prize money in most competition.....but, first you have to win the competition!

Most competitions have prizes only for the top 3 traders, but FxOpen have cash prizes for the top 30 (I think) traders.

In FxOpen's Demo competition, you must have a live trading account (refer rules & other details of competition at the top of this page) before you can join the competition because you have to use your personal cabinet login & password to get into the competition area.

================================

[nonamer]

Before you can join any FXOPEN competition, you must open new live account before can login into forexcup then request to join the competition.
So my suggestion please open new live account then upload the document verification then join fxopen demo contest.