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Article: A look at forex trading contests.(foerign exchange)
- Article from:
- Futures (Cedar Falls, IA)
- Article date:
- August 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 Summit Business Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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As forex becomes more competitive, forex futures commission merchants (FCM) and introducing brokers (IB) are resorting to offering prizes and incentives to attract customers. A common incentive is a monetary bonus with many firms offering $250 or more to open an account. Another form of incentive is a rebate on training or tuition or offering partial payment for taking a course offered by the firm. Recently, forex contests are being offered where traders get to trade simulated accounts and winners get awarded cash prizes and opportunities to trade real money.
It harkens back to the days when banks offered toasters and televisions for opening a Certificate of ...
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