Compete to Win
Showcase your trading skills against your peers in FXCM's $10,000 Monthly Challenge, only available to FXCM clients with an FXCM Mini Account. Join the monthly contest by opening an FXCM Mini Account with as little as $50.
How do I join the contest?
All you have to do is Open an FXCM Mini Account for as little as $50. Every client with an FXCM Mini Account is automatically registered at the beginning of the month. It's that simple.
Ready to join the contest? Open Mini Account
- $10,000 prize pool
- Contest restarts each month
- Simple rules: best percentage return wins
- Automatic entry for FXCM Mini Accounts
HOW DO I ENTER THE CONTEST?
Open an FXCM Mini account for automatic registration. Contest eligibility starts the month following account opening. To be eligible, Mini accounts must have funds and be ready to trade before the start of a new trading period.
How do I win?
The FXCM $10,000 Monthly Challenge is based on your monthly total return (percentage gain), calculated using this formula:
The account with the highest monthly return each month shall win the contest. This means that whether you have $50 or thousands in your Mini Account, you still have a chance to compete and win.
What are the eligibility requirements to win?
Have a mini account open and tradable before the 1st of the month, placed at least 10 trades during the month, have not made any withdrawals for the month, and have not received a margin call.
When does the contest start?
The contest restarts each month. The trading period for each month starts at 5pm New York time on the last trading day of each calendar month, and runs continuously until 5pm New York time on the last trading day of the following month.
I have an FXCM Standard Account, but not a Mini Account. How can I enter the contest?
You can always transfer to a Mini account by submitting a Mini Account Transfer Form. If your account meets the balance requirements (between $50 and $20,000). At the start of the next contest cycle, you’ll be entered automatically.
Am I restricted on trading styles or currency pairs during the contest?
If you can do it with a Mini account, you can do it in the contest. Read more about Mini accounts.
How often is the leaderboard updated?
The leaderboard updates each day at 8PM New York time.
Why don’t I see my name on the leaderboard?
If you believe you should be holding a spot on the leaderboard, please email email@example.com. We can review your account and email you back directly with an update on your account’s performance for the month.
Can I have multiple mini accounts entered in the contest?
Yes. You can create additional mini accounts on MyFXCM. Note, the mini account must be opened before the 1st of the month to be eligible in that month’s contest.
Does a withdraw or transer disqualify me from the contest?
Yes, withdrawing or transferring funds will disqualify that account for the remainder of that month’s contest. Since it can take up to 3-5 business days to process, we recommend initiating any withdraws several days prior to the end of the month. The account will automatically be eligible for the following month’s contest.
Will I win a cash prize if I am in the top 5 of the local leaderboard, but not the global leaderboard?
No. Since this contest has participants from all around the world, only the Global results are used to determine cash prize winners. The Local leaderboard will show you how you are doing against peers who reside in the same country.
ENTRY AND CONTEST ELIGIBILITY:
In order to be eligible for the FXCM's $10,000 Monthly Challenge (the "Contest"), a contestant must be a new or existing retail client of Forex Capital Markets Limited ("FXCM") for the entirety of the Month (as defined below), (ii) be utilizing FXCM's dealing desk execution model at the beginning of the Month, (iii) be utilizing either of FXCM's Trading Station or MT4 platforms, and (iv) have an account balance at the beginning of each Month of greater than $0 and less than $20,000 USD. Only one prize per Month is allowed per account holder or trader. There is no registration form or entry fee required. All live and eligible FXCM Mini Accounts (the "Eligible Traders") at the beginning of the Month will be automatically entered into the contest. In order to receive a prize for any given Month an Eligible Trader must complete a minimum of ten (10) trades during such Month.
Withdrawing, or transferring funds from your account or receiving a "margin call" will disqualify an otherwise Eligible Trader from the Contest for that Month. The account making the withdrawal or transfer will automatically become eligible again the following contest month.
CONTEST TRADING PERIOD:
For the purposes of the Contest, the trading month (the "Month") officially begins at 5:00 PM Eastern Standard Time on the last day of the previous calendar month and ends at 5:00 Eastern Standard Time on the last day of each calendar month.
Eligible Traders are not required to participate in the Contest. Eligible Traders can choose to opt-out of the Contest at any time before, during, or after the Contest. Prior to opting-out, all Eligible Traders are subject to the Contest Rules. To opt-out, please contact us via e-mail at: firstname.lastname@example.org. Once an Eligible Trader opts out via the process set forth in this Section 4, such contestant will be disqualified from the Contest (not just for the Month in which such opt out is received) until FXCM receives notice otherwise.
DETERMINATION OF WINNERS AND DAILY PERCENTAGE GAIN
For the purposes of the Contest, the monthly percentage gain will be calculated utilizing the following formula:
- Beginning of Month Equity-Deposits )
The prize winners will be the five Eligible Traders, who have neither opted out nor been disqualified, with the highest percentage gain over the course of the Month (the "Monthly Winners").
Monthly percentage gain is derived solely from trading activity.
Each month prizes will be given to each of the Monthly Winners in the following amounts within thirty (30) calendar days of the end of each Month:
- 1st Place Monthly Winner: $5,000
- 2nd Place Monthly Winner: $2,500
- 3rd Place Monthly Winner: $1,500
- 4th Place Monthly Winner: $750
- 5th Place Monthly Winner: $250
FXCM shall not be made liable in the acceptance or transmission of orders due to a breakdown or failure of transmission or communication facilities, or for any other cause beyond FXCM's reasonable control and/or anticipation.
CONTEST TRADING REGULATIONS:
The purpose of the Contest Rules is to ensure that every Eligible Traders has the same opportunity for success in the Contest as other Eligible Traders. FXCM reserves the right to amend, waive, or interpret any portion of the Contest Rules in its sole discretion.
USE OF CONTEST FOR PROMOTIONAL PURPOSES:
To be eligible to receive a prize pursuant to the Contest, a Monthly Winner must be willing to permit their name, winner's survey, and trading record ("Trader Information") for the Month to be published and/or distributed by FXCM, its agent and successors during and after the life of the Contest. Personal information such as, but not limited to, your address and account number(s) will not be published. If a Monthly Winner chooses not to permit publication of his or her Trader Information such Monthly must opt-out pursuant upon being contacted by FXCM or FXCM's agents or representatives. Upon opting-out, such Monthly Winner shall forfeit any prize money due to them pursuant to the Contest for the Month in which such prize money is due.
POSTPONEMENT OR CANCELLATION:
FXCM reserves the right to extend the trading period of each Month, to postpone the starting date of each Month, or to cancel the Contest if, in FXCM's sole discretion, it determines that such action is reasonable or necessary.
If required by law, FXCM will furnish an IRS 1099 Form to the Monthly Winners for the cash value of the prizes received by such Monthly Winner for the tax year in which such prizes are won. Monthly Winners are solely responsible for all federal, state, and local taxes due because of any prizes received, and FXCM shall have the right, but not the obligation, to make any deductions and withholdings FXCM deems necessary or desirable pursuant to applicable federal, state, and local tax laws, rules, regulations, codes, or ordinances.