Dukascopy forex demo contests and forex comeptitions
Dukascopy contests have gained immense popularity among worldwide Forex traders as these contests offer huge prizes and bonuses to the winners. Basically, Dukascopy contests have three types. These are
1. Dukascopy Trading Forex Contests
2. Dukascopy Forex Article Contests
3. Dukascopy Strategy Contests
you can win $5000 per each contest !
All of these contests are based on a different set of laws, list of requirements, models, rating criteria, policies and rules. These contests provide an opportunity for all traders to select that competition which fulfills their requirements more conveniently. These all 3 contests are designed to provide maximum benefits to all Forex traders.
1. Dukascopy Trading Forex Contest
In this Dukascopy contest, all the contests experience the competitive atmosphere that is exclusively created by Dukascopy Bank. All participants who take part in this competition can have informative and useful discussions with top analysts and Forex traders within the Dukascopy Forex Community. This discussion not only aids contestants to win the contest but also show them the path to improve their overall profits and benefits from their Forex trading. This trade contest provides 15000$ to all the winners at the end of each month.
Model of Dukascopy Trading Forex contest
This Dukascopy Trading Forex contest is a pure Forex competition that is played between only those participants who use DEMO accounts. But the participant must use this account only for manual trading. Any form or kind of automated trading is strictly forbidden in this competition. If any participant who use automated trading in any stage he will be disqualified from the contest. This competition is based on distinct trading limitations and restrictions that are designed especially to make this contest more analytical and fair.
The prominent feature of this Dukascop contest is that there is an essential requirement to comment about all the trading activities with rational of those operations and logic for using that strategy of all the contestants. All these comments are then collected on the top page of the contest and on the personal blogs of all contestants. These comments enable all visitors to read and evaluate all the contestants’ activities. In addition to this visitors can forecast the trading activities of each participant with the help of rating that is available on this web platform. Moreover, visitors can comment and can give suggestion to the contestants.
The winner of this contest is based on the final rating of each contestant. This rating is typically based on the review of the trading performance, expert evaluation and blog popularity of each participant. The participants who gain the maximum scores in all these criteria win the competition and earn immense profits. The winning amount is $15000 that has to be distributed among all the winners of this competition. The amount is usually given at the end of each month as this competition takes place on a monthly basis.
Trading rules and regulation for the Dukascopy Trading Forex Contest
As mentioned earlier, this contest has specific rules to make it fair and logical. All the participants are required to follow all the rules or they can get eliminated. These rules include
• Only those accounts can register in the contest that contain an initial deposit of USD 100,000
• All the traders are required to perform every trading activity only with the help of the Java platform. Any trading with an iPhone and web platforms will not be considered
• Any participant cannot start his market dealing without having a comment or a review from the other relevant participant.
• The traders are required to have a minimum trading lot of 100,000 based on currency units
• The participant cannot use more than 5 instruments simultaneously
• Each instrument can only open only 1 position. If that instrument has already an entry order than any participant cannot open another market order.
• To remain In the competition, each participant must have at least 10 open positions during the whole contest. When this contest ends all these open positions will be closed at the settlement prices.
• Participants must have a Stop Loss (SL) and Take Profit (TP) orders for all assigned positions
• The both Take Profit (TP) and Stop Loss (SL) must not exceed more than 2% from the opening price for EUR/USD currency pairs. Other instruments have limits that are recalculated according to the Pip Conversional Schedule. For instance, limits for EUR/NOK= (EUR/USD Points/EUR/NOK Points) *2%=1/0.17*2=11.76%, etc.
• Participants must not set their Take Profit (TP) and Stop Loss (SP) orders closer than 10 pips either to entry or to the market price.
• Participants can modify or change their Take Profit (TP) and Stop Loss (SP) orders according to the direction and trend of the trade.
• Once participants set their Take Profit (TP) and Stop Loss (SP) orders then they cannot cancel it.
• All trading accounts of the contests are subject to same set rules and margin requirements like on demo accounts. These requirements include the applicability of end-of-week leverage (1:30) each Friday, at 18:00 GMT.
Ranking calculation regulations of the Dukascopy Trading Forex Contest
The monthly winner selection this Dukascopy contest is based on four nomination criteria. This criteria involves making of total 300 points
1. The first nomination consists of performance of the trader. This means real instruments in the capital. With this nomination, participants must have a maximum 100 points
2. The second nomination is based on participants experience to attain pips. The amount of gaining pips is basically calculated with the help of the given scale (basic reference standard is EUR/USD 1 pip = 1 point always). This includes maximum 100 points
3. The third nomination includes popularity of the participants. It incorporates evaluation of three ratings. This nomination has a maximum 25 points. These points are based on
• Total number of attendance of participant on his personal blog from his unique IP- address.
• Total number of comments presented in the personal blog of the participants. Only 1 comment per one forecast from distinct IP-address is considered
• Forecasts evaluation can only be done through “I like” system.
4. The fourth nomination includes evaluation of the participants by Dukascopy experts. This analysis is purely based on statistical factors and it has maximum 50 points.
Participants must take help from recommendation on the web platform to increase their popularity and scores
2. Dukascopy Forex Article Contest
The Dukascopy Forex Article Contest is the most interesting and exciting competition among all other trading contests. This competition is exclusively designed for all those people who have sound knowledge about the Forex world and who are interested in writing articles about this trading. Any person who writes articles or publications on the subject related to Forex can easily becomes an eligible candidate for this article contest. It enables participants to show and enhance their analytical skills, trading skills and trading techniques. With the help of this contest, participants can share their useful and valuable experience, ideas and suggestions for getting success in the Forex world.
Model of the Dukascopy Forex Article Contest
The most interesting part of this article competition is that anyone can take part in it. This means that it is not essential that the participant must conduct some coding strategies or trading activities. Any person who is interested in writing about Forex can easily become the part of this contest. In addition to this, the entire contest is based on the text content rather than trade volumes and earnings profits.
The Dukascopy Forex Community (DFC) has enabled this article competition as a path to share ideas, strategies, applicable traders and modern techniques. This exchange of Forex trading ideas aids all those traders that are part of Dukascopy trading contest. These articles help in increasing the popularity and ratings of the trading contest participants.
The total duration of the contest is one calendar month. And each participant can post more than 4 articles per contest. All the submitted articles are then evaluated by the moderators of the contest. After the evaluation process, only selected articles are then uploaded to the official Dukascopy contest web page. The articles get scores based on the bulk popularity, their ratings and analysis of Dukascopy experts on the articles.
This contest is conducted monthly. At the end of each month, an amount $15000 is distributed among all those winners who win the article contest. The winners get their prizes in the form of having their own Dukascopy Live trading accounts.
Rules and Regulations for writing the article
Before entering into the contest, all participants must understand the basic rule of writing the articles.
• The entire text of the article including all attachments like graphical materials and forms must be in English.
• The length of each article must range from 400 to 1500 words
• Contestants can use charts, images, trades and other graphical materials. But all these resources must be taken only from the Dulascopy Forex Community. If contestants are using such material then they must add the copyright notice by Dukascopy and they must not delete or crop it
• All those contestants who have also taken part in Dukascopy trading contests are only allowed to submit 4 articles per contest. They cannot submit more than one article per week.
• All participants must sure that they write articles or publications purely related to Forex. The article can include explanation of trading system, description of trading strategy, overview of trading tactics, fun stories about trading and future prediction about the Forex business
• The entire text or content of the article must be according to the rules and regulations of the Dukascopy article contest. Dukascopy posses the right to eliminate or disqualify any participant who is not following the rules. This elimination can take place without giving any subsequent or prior notice
Ranking and Evaluation of articles
The ranking of all the submitted articles is based on three major factors. These all factors make a maximum of 300 points. These three factors incorporate
This involves evaluating the popularity of the article and the participant. The contestant can get the maximum 100 points in these criteria. Basically, the popularity is measured according to the following
• The number of IP visits to the article and the profile page of the participant.
• The total numbers of comments that are made to the article
• The total number of votes for the submitted article
Only Articles with high quality can get approved by the moderators. The quality is based on following things
Formatting of the article:
Formatting must be accurately done. It should only be used to highlight main points. The contestant must not use bold or italic style for the entire content. Do not underline the words as it creates puzzlement with links. Contestants must use formatting tools properly
Articles must be divided into well-organized paragraphs by giving sub-topics
Titles, tags and subtitles:
Contestants must use proper title that can show the main content of their article. Sub heading and subtitles must be formatted accurately. In addition to this, all contestants must use tags to highlight the most important terms of the articles.
Relevant pictures and graphs:
The contestant must add relevant graphs and other materials to their articles as texts look attractive with such illustrations. But all these materials must be relevant to the topic of the article.
The article must be written according to the basic rules of English grammar. It includes tenses, punctuations and spellings
3. Expert opinion.
Exert opinion is the most important factor to get selected as a winner. The top 20 articles are selected through the first two factors including requirements and ranking. After this, these articles are then evaluated by the experts of the Dukscopy committee. This factor has maximum 100 points.
To stand in the position of winners, all participants must work hard to take maximum points in all these three factors.
3. Dukascopy Strategy Contest
This Dukascopy contest provides a remarkable opportunity for all those people who have sound experience in Forex and who are very creative. This competition allows participants to develop some profitable and strong trading strategy that can challenge the entire Forex market. Participants are free to create their own unique trading algorithms. They can take help and suggestion from JForex platform solution. At the end of this competition, all winners are awarded with the Live accounts. And the monthly prize of this JF strategy competition is $15000 which is distributed among all the winners.
In this contest, only registered automated strategies can get accepted to compete. This contest acts like a competition or marathon of human abilities so that talented contestants can take part to program or produce an entirely automated trading robot. This robot can not only act on the behalf of the trader but also follow useful tactics to maximize the profit. All the good trading strategies and ideas that are based on creative and moneymaking rationale have the best possibility to win this competition.
Model of Dukascopy strategy contest
This Dukascopy JForex Strategy Contest typically takes place among all those participants who are using DEMO accounts for all their automated trading activities. This contest is based on specified rules and regulation to provide a fair evaluation for all contestants. This competition is a great opportunity for all those who are interested in learning the trading strategies for increasing their profit margins.
The rating and the evaluation of the contestants is based on their popularity, trading performances and the opinion of the experts
All the participants are required to submit their source files of strategies to the remote server. This server is programmed to run all these strategies during the whole month of the contest. To increase the popularity and rating of the strategy, contestants are free to disclose the original code script of the strategy on their personal blogs. To enhance their ratings, contestants are allowed to give details and comments about their strategy and trade performance on their personal blogs. All members of the Dukascopy Forex trading community members can read, and evaluate the strategies by commenting on them or rating them.
The Dukascopy JForex Strategy Contest takes place on a monthly basis and winners have an opportunity to win the monetary prize $15000. At the end of the competition, this amount is shared among all the winners.
Ranking and Scoring Rules of the Dukascopy JForex Strategy Contest
The winners of this strategy contester are ranked according to the four nominations. These nominations consist of total points or score of 350. They includes
The performance includes that how effectively the contestant is increasing his real capital by using different strategies. It involves a maximum of 100 points to evaluate. It also includes that how many pips the contestant can gain.
2. Total number of pips
All the pips should be achieved by using the given scale (basic reference standard is EUR/USD 1 pip = 1 point always. This also includes maximum 100 points
This means that how much the particular participant is famous. This popularity is measured on the following terms
o Total number of attendance in the personal blog of the participant
o The total number of comments on his personal blogs
o All strategy and trade evaluations must be done “I like” system.
o Total number of bonus popularity points of the contestants. These additional bonus points are only given to those participants who have copyright possession for their strategies. These points are based on the time duration that when the participant submit his copyright of the strategy. Also, these points are given during the whole duration of this contest. In this competition, the additional bonus points for the contestants are calculated by using the given formula
Bonus Points = remaining days till the end of month X 1 point + 5 points
If any contestant disclosed his strategy on the last day of the competition then he will only be awarded with 5 bonus points.
These additional bonus points are only for contests having copyrights. Any other participants who reproduce or copy strategy of others are not eligible for receiving these points. The strategy of the participant is considered to be copied or reproduced if any part of the algorithm resembles the strategy of other participants. For considered to be copied, the strategy content must have at least 90 percent of the script of another strategy. All the original authors of the strategy are free to provide complete information so that they can compete for their copyright claim.
The Dukascopy possesses the right to cancel any additional bonus points from the contestants of the strategy is found to be copied at any time during the month.
4. Expert evaluation
After these three nominations, experts completely evaluate each and every participant so that they can find the top winners. This consists maximum 100 points.