Traderace Launches Lucrative New Trading Competition

  • December 24, 2021

It frequently seems as if regulators globally are doing their best to discourage people from trading FX, amidst claims that the process is unfair. Whether that stems from a perception that the whole process is weighted too much in favor of brokers, there’s a lack of transparency or concerns that clients being left exposed to significant potential losses, leveraged trading is struggling to shrug off a rather grubby reputation.

So, amidst the recurring claims of fast execution, great customer service, and tight spreads, it’s encouraging to see some entities coming to market with a rather more innovative concept, developed to find a new way of engaging both existing and potential traders alike.

Hong Kong-based Traderace seems to be doing just this with its newly launched trading competition. It’s been structured to make it simple to understand, runs on a pure STP model and leaves the traders not only working on building their own P&L as would be the case with any broker but also competing for prizes which are funded from the broker commissions generated. The concept is understood to be a world first and if the company can achieve its target of 200,000 participants, the prize fund is forecast to be in the region of EUR1,500,000 per month.

Participants will be limited to funding a maximum of five accounts per month, with a maximum deposit of EUR100 per account. That’s been designed deliberately to provide a level playing field across the board so that heavyweight participants aren’t immediately put an unfair advantage of winning either the monthly or annual competitions. Accounts can’t be funded more than once in a month in a move to encourage responsible trading, although the option to have multiple accounts allows several trading strategies to be run in parallel.

These will be looking for both the absolute return and also the greatest volume generated in a month. Leverage terms and pricing will be set at industry standard levels, with popular currencies offered at 400 times margin and industry standard spreads, with the prize money funded purely from 70{3f14c4482d96f96be87c04c45a19a3042e39ce1d6ba6ef8477dea9b04d245214} of the trading commissions generated. This creates a fair and transparent competition that should be both fun – and for some has the potential to see them gain life-changing sums of money.

As Antonis Nicholas explains, “We decided to structure this competition in a way that deliberately gives us as the counterparty no incentive to trade against clients. The full STP model means we’re agnostic to each trade, meaning competitors are left to trade against the market and one another. There’s negative balance protection in place and we like to think of this concept as meeting both the needs of professional and recreational traders alike.”

Traderace is working with the recently established 4XCube brokerage to deliver the necessary liquidity components. Participants will deal over the popular MT4 platform, opening up the

competition to the widest possible audience, with the opportunity to trade on a range of instruments including currencies and indices. IBs will also be incentivized to encourage their clients to participate in the initiative.

In a world that at times seems to be sorely lacking innovation, this illustrates that other options do exist. The cooperative nature of the prize fund also provides valuable transparency. Assuming Traderace can gain the necessary scale, as the company says the prize payouts – which are in addition to an individual’s trading profits – could prove significant.

 

Media Contact

Name: Antonis Nicholas

Phone Number: +85258031229

Email: info@traderace.com

Company name: Traderace Competitions LTD

Related post

Three Cryptocurrencies Poised for Potential Growth in a Possible Crypto 2025 Bull Run

Three Cryptocurrencies Poised for Potential Growth in a Possible Crypto 2025 Bull…

Three low-cap altcoins could surge in 2025’s bullish market, as Bitcoin and Web3 trends drive investor interest. Introduction: As the cryptocurrency market anticipates a potential bull run in 2025, investors are increasingly turning their attention toward projects with low market capitalizations and significant long-term potential. While established cryptocurrencies such as…
Seema Vandan Yatra: A Transformative Journey for India’s Border Villages

Seema Vandan Yatra: A Transformative Journey for India’s Border Villages

Somnath, Gujarat, December 2024 – In a ground-breaking step towards the revitalization of India’s border villages, Mr. Nachiket Joshi, Convenor of Manthan, has announced the launch of the Seema Vandan Yatra, a transformative journey by road designed to spotlight and engage with India’s border communities. Scheduled to commence on December…
Nabeel Bin Muhammed: Redefining Financial Wellness Through Innovation

Nabeel Bin Muhammed: Redefining Financial Wellness Through Innovation

Nabeel Bin Muhammed, an entrepreneur born in India, raised in the Middle East, and now shaping the financial technology landscape in the UK, is on a mission to drive financial wellness. At the core of his work lies a deep commitment to tackling the pressing issue of financial insecurity—where millions…
AI-Powered WhatsApp Bot to Simplify Solar Consultations by Bigwit Energy

AI-Powered WhatsApp Bot to Simplify Solar Consultations by Bigwit Energy

The new WhatsApp bot from Bigwit Energy streamlines the solar consultation process, offering personalized guidance, detailed proposals, and easy scheduling for site visits. Bigwit Energy Pvt. Ltd., a trailblazer in solar energy solutions, has unveiled its latest innovation: an AI-powered WhatsApp bot designed to streamline the solar consultation process. This…
Singhania & Co. Successfully Represents Vishnu Manchu in Securing Defamation Injunction in High-Profile Family Dispute

Singhania & Co. Successfully Represents Vishnu Manchu in Securing Defamation Injunction in…

Hyderabad [India], December 19, 2024: Singhania & Co., successfully represented actor and businessman Vishnu Manchu in securing an injunction order from the Hyderabad Court against his brother, Manoj Manchu, in a high-profile family dispute. The court issued an injunction prohibiting Manoj Manchu from making any defamatory statements about Vishnu Manchu…
Transforming Communities through CSR: Join Arpan’s Mission for Child Safety

Transforming Communities through CSR: Join Arpan’s Mission for Child Safety

An alarming 50% of children in India (MWCD 2007) have experienced sexual abuse, and 182 cases are reported daily (NCRB 2022). With Child Sexual Abuse (CSA) continuing to be a critical issue across India, Arpan, the nation’s largest NGO focused on CSA prevention, launched a groundbreaking #ProtectedByPOCSO campaign during Child…
Sai University (Chennai) Announces Opening of 2025-26 Multidisciplinary Undergraduate Applications

Sai University (Chennai) Announces Opening of 2025-26 Multidisciplinary Undergraduate Applications

Sai University, recognized for its distinctive approach to liberal education, is excited to announce that applications for the 2025-26 multidisciplinary undergraduate programs are now officially open. With a commitment to fostering an interdisciplinary & multidisciplinary approach to education, Sai University offers a diverse range of undergraduate programs, including BA (Hons),…