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eToro, the fastest growing online financial trading platform has announced its Australia Foreign Exchange (Forex) Trading Challenge. From 15 March to 01 April, 2010, Australia based traders from novice to expert, will have the opportunity to enter the virtual trading competition which awards the top ten traders cash prizes of $1000, $800, $500 and $100.
The eToro trading platform, used by over 1.4m traders, is designed to instruct, inform and guide traders of all levels through the process of creating and executing Foreign Exchange (Forex) trading strategies. The platform provides a full range of tutorials and instructional guides to provide traders, from beginner to expert, with information ranging from trading fundamentals to enhanced analytical tools and real time data feeds.
eToro, which recently joined forces with International Capital Markets (IC Markets) in Sydney, has launched the competition in response to the significant growth in Forex trading in Australia. Statistics from the Australian Trade Commission (2009) report that Australia now ranks as the fastest growing Forex market among the top 10 Forex centres in the world, with the Australian dollar ranked as the sixth most traded currency, and the AUD/USD the world’s 4th most actively traded currency pair.
Once largely confined to professional institutional investors, Forex trading now appeals to an increasingly diverse range of participants. “From the outset our mission has been to provide a platform that caters to the needs of all Forex traders, whether they are absolute beginners or experts,” says Jonathan Assia, eToro CEO. “Results from our recent UK Trading Challenge demonstrate just how accessible the eToro platform is. The top ranked traders ranged from an MBA student to factory worker, property developer and professional poker player.”
To compete, entrants will be required to sign up to the eToro platform and receive a practice account. Trade results are based on real time market data but require no transfer of real funds. Winners will be announced on April 2nd, 2010. Unlike other Forex competitions, winners will have the option to either reinvest their winnings in their eToro account or withdraw their cash prizes.
About eToro
With more than 2,000 new accounts created each day and local offices in the USA, Cyprus, & Australia, eToro (etoro.com.au) brings financial trading to life for hundreds of thousands of traders worldwide.
Its “people friendly” Forex and commodities trading platform helps make Forex: simple to start, great to learn and a delight to trade. eToro’s educational and trading toolbox, together with personal service, delivers Forex trading as it’s meant to be.
eToro’s growing community adds an extra dimension to trading: it connects all traders to help them get more from their trading experience. With a live chat for traders, ongoing trading championships and the traders’ insight tools, interaction and co-operation becomes the heart of the trading experience at eToro.
About International Capital Markets (IC Markets)
International Capital Markets is a leading CFD, Forex, Futures, Options and Share broker in Australia. The company was created with the vision of offering a global product range previously only available to large institutions and high net worth individuals to retail investors online.
IC Markets, headquartered in Sydney, will now offer the innovative eToro trading platform as part of its suite of offerings. IC Markets is regulated by ASIC (AFSL 335692), the financial services regulator in Australia.
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