NewswireToday - /newswire/ -
Dubai, UAE, United Arab Emirates, 2009/07/28 - Varengold Bank FX, a brand of Varengold Wertpapierhandelsbank AG, hosts a second FX Trading Challenge for traders to compete with the chance to win US$250,000 Aum (Assets under Management) - VarengoldBankFX.com / Trading-Challenge.com.
After the success of the last FX Trading Challenge, Varengold Bank has given traders a second chance to put their FX trading skills to use by virtual trading to win US$250,000 Aum.
‘This is a great opportunity for both beginners and sophisticated forex traders, to join in and put their trading skills to the test’ says Ilja Perschbacher, Managing Director of Varengold Bank Dubai.
Participants of the challenge are invited to sign up for a virtual play money account and begin trading over a period of three months, starting from the 1st August 2009 until the 31st October 2009. The challengers will be assessed on the highest risk-adjusted interest yield during the three month duration.
The winner of the challenge will be awarded with their own managed account ready for trade, Seed capital amounting to US$250,000 AuM and bank-based sales support to acquire additional funding.
The Varengold Wertpapierhandelsbank AG is the German investment bank with an exclusive focus on the managed futures segment, which are a class of hedge fund strategies. The company has over 14 years of experience in asset management, and offers investors access to successful international managed futures strategies.
Varengold (varengold.com) was founded in 1995 by Steffen Fix and Yasin Sebastian Qureshi to offer worldwide investors secure access to international managed futures strategies. Currently, the investment bank has 40 employees. The bank’s core divisions are Asset Management with managed futures and Capital Markets – Brokerage (security clearing).
The development of managed futures strategies with market traded products in stock, bond, commodity and currency markets was the focus in the founding years. For the past 10 years, the investment bank has focused on the evaluation and selection of external managed futures managers from a worldwide network as a fund of funds manager. The Capital Markets – Brokerage division was initially developed next to support Varengold’s own risk management. Today, over 7,000 clients worldwide make use of these services for trading futures, options and forex.