To Date, FXCM Has Awarded over Half a Million in Cash Prizes for King of the Micro Contest

May 18, 2010 - PRLog -- New York – May 17, 2010

Each month, FXCM, a global leader in online forex trading, invites traders from around the globe to compete for the King of the Micro crown and its accompanying $25,000 cash prize.  Leveraging a series of complimentary market analysis tools, thousands of traders go head to head in a fight to achieve the highest return.  In recent years, the high liquidity levels, low margin requirements, and 24-hour access found in currency markets have triggered an international explosion in the popularity of online forex trading.  The King of the Micro Contest is part of FXCM’s commitment to establishing itself as an industry leader in developing products, resources, and promotions that further galvanize interest in this fascinating and challenging area of financial markets.  Since the inception of the contest in early 2009, FXCM has given away over half a million dollars in winnings.

The rules of the King of the Micro Contest are simple: have a minimum balance of $500 in an FXCM Micro account before the first day of the month, and make a minimum of ten trades during the month.  Whichever trader boasts the highest trading returns in percentage terms at the end of the month wins the title and the $25,000 purse.  Second and third place finishers receive $10,000 and $5,000 cash prizes.  It’s free to enter and no registration is needed.  In the past, winners have come from the U.S., China, Malaysia, Canada, and the U.K, among others.

Last month, Su Baoyi of China, who reaped 632% in profits,* emerged as April’s king by using technical analysis (a very popular tool for forex traders) to trade across a variety of currency pairs.  Baoyi saw his biggest gains trading AUD/USD and USD/JPY.  Although he has been actively trading forex for over three years now, Baoyi is continually excited to learn new ways to improve his trading strategy and further develop his currency market acumen.
For anyone who is as enthusiastic about forex trading as he is, Baoyi advises, “Make it part of your life.  Engage in it with more passion.  Doing something you like is a pleasure.”
To view other winners, please click here.

For more information on the King of the Micro Contest, to read the full contest rules, and to deposit money into your FXCM Micro account, click here.

FXCM Micro is a division of FXCM that provides new traders with access to the currency markets for as little as $25. With a small (1K) lot size, FXCM Micro provides a great way to get started in the forex market.  FXCM Micro is offered for individual, self-traded accounts.

FXCM Holdings LLC Facts

Forex Capital Markets (FXCM) is a leading global forex broker that caters to both retail and institutional markets. Founded in 1999, FXCM is one of the largest brokers, regulated by several of the world’s most respected financial authorities.

At the heart of FXCM’s client offering is No Dealing Desk† forex trading. Clients have Direct Market Access to some of the world's largest forex liquidity providers, enabling FXCM to offer clients spreads as low as 1 pip on major crosses. Clients also have the benefits of mobile trading, one-click order execution, and trading from real-time charts. FXCM’s CFD product** offers no re-quote trading and allows traders to trade oil, gold, silver, and stock indices, along with forex on one platform. In addition to currency and CFD trading, FXCM offers educational courses on forex trading, and provides free news and research through DailyFX.com.

* Past performance is not necessarily indicative of future results.

† Please note, FXCM Micro, in its discretion, may or may not offset individual transactions unlike transactions in most FXCM standard accounts. For additional information, click here.

** Please be advised that CFD accounts are not available residents of the U.S or its territories.

Risk Warning: 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.

Press Contact:
Gregory Kelly
E-mail:      gkelly@fxcm.com
Phone:      (646) 432-2122