Want to put your forex trading skills to the test for a chance to become the next Million Dollar Trader?

AxiTrader, in partnership with AxiSelect, is giving talented traders the chance to win a trading account of one million dollars in their February 2016 live trading competition.

AxiTrader’s Million Dollar Trader competition will see forex traders from around the world compete over a three-month period, where the eligible winner receives an AxiSelect account with a proprietary allocation of US$1 million, and a pathway to a career as a professional trader.

The second placed trader, as chosen by the judges, will get a US$250,000 trading account while third and fourth placed traders will receive a US$100,000 trading account each. There will also be bonus spot prizes throughout the competition, including for the highest winning trades, most unique trading strategy and more.

For the duration of the competition, traders will be able to track their performance against other traders via an online leaderboard compatible with the MT4 trading platform. Participants will also receive weekly progress emails and free access to FXWW Chatroom (usually US$50 per month). You’ll be able to log in and gain the same depth and quality of market information as banks and institutional traders.

Marc Elison from AxiTrader says “We are proud to be offering skilled traders the opportunity to take the next step from trading as a hobby to a higher level.”

The Million Dollar Trader competition opens in February 2016 and is open to anyone with a live AxiTrader trading account that meets the minimum opening balance requirement of US$5,000. It is important that you ensure your account is setup and funded prior to the live trading competition start date (1st of February, 2016).

FREQUENTLY ASKED QUESTIONS:

• When does the competition run?

The competition opens at 09:00am AEST February 1, 2016 and ends at 23:59pm AEST April, 2016. Only trade activity within those dates will be considered by the judges.

• How much does it cost to enter?

There is no cost to open a trading account, but a minimum opening account balance of USD$5,000 is required to join the competition.

• What is the assessment criteria and how is the winner decided?

Winner of the main US$1,000,000 will be the one with the highest return on total deposits on the closing of the market on 29th April 2016.

• Are there any maximum drawdowns?

No, but the judges may refer to this measure when assessing the competition winner.

• How often do I have to trade?

There is no set frequency you are required to trade. The winner will be determined by a combination of profitability, return on investment, drawdown analysis and strategy implementation.

• Can the prize money be withdrawn for cash?

No. Winners will receive access to a trading account with trading credit only. Once winners have received the trading credit allocation, a 25% performance fee can be earned on any fresh profits made on this account. This fee is paid out on a quarterly basis.

View the competition rules, terms and conditions here.

AxiTrader’s Million Dollar Competition is now open for registrations, with trading commencing from February 2016.

ABOUT AXITRADER

Founded in 2007 and headquartered in Sydney, AxiTrader has grown to become one of Australia’s largest and leading Forex brokers. We now have offices in four regions providing local service to a global client base in more than 150 countries. With multi award-winning support and high performance trading technology, AxiTrader delivers the complete end to end trading experience.

ABOUT AXISELECT

AxiSelect is a structured pathway to becoming a professional trader. Through performance monitoring, we identify traders with the potential to succeed and provide funding and professional development to help them build a trading career.