The World’s First Forex Contests Platform

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.

• When choosing a broker, one of the benchmarks against which to measure safety and client fund safety and security, is to establish which regulating authorities oversees the operations of the broker.
• FX Arena warns that margin trading involves the potential for profit as well as the risk of loss.
• As such, it is not clear as to which currencies, particularly smaller currencies such as ZAR/Rand, will incur conversion fees.
• 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.

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.

Where is forex traded?

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.

Calculate the foreign exchange rates of major FX currency pairs using our free currency converter. Forex trading is the act of speculating on the movement of exchange prices by buying one currency while simultaneously selling another. Since 2001, FOREX.com has made its name by providing the most reliable service and powerful platforms to allow our customers to trade to their fullest capabilities.

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 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.

Best Forex Broker Cent Accounts

Each broker has its own preference in which platforms it supports and often brokers offer the use of their own proprietary trading platforms. A Forex account is a trading account that traders hold with a specific broker with the purpose of trading financial instruments. As such, FX Arena attempts to combine online gaming with Forex trading, in which forex traders who join the Arena could compete in any demo trading contest among the many it holds, with real withdrawable prizes. We offer sophisticated trading tools, competitive spreads and exceptional execution quality on over 80 currency pairs.

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.

Learn forex trading

To participate in an FX Arena trading tournament, traders need to buy tickets. A part of the ticket will go on to the prize pool, while the other half will go on to pay the royalty. FX Arena seeks to position itself as the pioneer of online forex contests globally. Prior to its establishment, the arena existed as special trading contest arena for XM forex broker clients. Overflowing with opportunities, 24-hour and no commissions with tight spreads for a standard account – see why forex is the most traded market in the world. As a globally traded market, the foreign exchange market is open 24 hours a day, five days a week .

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 https://forexarena.net/ 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.

COST AND FEES, COMMISSIONS AND SPREADS

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.

With FX arena, interested traders will not be directed to a demo account, but instead to a demo platform that will allow them to test the trading features provided to compete in the broker’s regular trading tournaments. With FX Arena, traders are granted one single account type from which they can enter Forex tournaments. The account provides them with access to the MetaTrader 5 platform and its advanced suite of trading features.

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 forex arena 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.

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 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.

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.

Enjoy a suite of powerful, industry-leading platforms and get the popular charting program TradingView for free. Spreads will vary based on market conditions, including volatility, available liquidity, and other factors. Typical Spreads may not be available for Managed Accounts and accounts referred by an Introducing Broker. Apart from the inbuilt technical indicators and analytical tools available on the MetaTrader 5 platform, FX Arena does not appear to offer any independent research tools or analytical resources. Ripple is popular among big banks with the Ripple network a next generation real-time gross settlement system.

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.

DEPOSITS AND WITHDRAWALS

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 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.

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.