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Cyprus based Forex Broker Forex Time announces the results of the trading competition, and Chinese investors emerge as the winners. This goes to show the growing popularity for foreign exchange trading in the world’s No. 2 economy.

Forex Time recently introduced an  Over-the-Weekend Forex Account. For more about the results of the competition, here is the official press release:

China has dominated the latest Forex Time live trading competitions, with both competitions recently announced to have been won by Chinese investors. The two competitions were launched by international forex broker Forex Time (FXTM) to encourage traders to test their skills against other traders all over the world. The winners of both competitions were rewarded with prizes of $10,000.

Over a six week period, investors competed against each other in two different contests: Trail Blazer, which was for traders using the FXTM Cent Account, and Blaze of Glory using the FXTM Standard, Fixed Spread or ECN accounts.

The Trail Blazer competition was won by De Qin Yu, who achieved a remarkable profit rate of 1266.43%, whilst the Blaze of Glory title was taken by Jun Hua Wang with 832.73% profit. Mr Jun Hua Wang, who has over four years of trading experience, said he is very happy to win the $10,000 prize and he recommends trading with FXTM. He said: “My trading tips for investors who are experiencing forex for the first time is to ensure you have a proper risk management and suitable trading strategy in place.”

Kaiming Liu, Vice President of Asia for Forex Time, said: “The fact that the winners and many of the runners up of both Forex Time competitions are from China is proof of the growing popularity of forex in the region. I think the results of our competition show that the depth of knowledge and experience in the Chinese forex community is growing rapidly.”

Meanwhile Sanjiang College student Ning Xu, who was a runner-up in the Trail Blazer competition, said he was very happy to take second place because although he has stock market experience it was only the first time he had traded forex. Mr Ning Xu said: “Forex trading is very convenient as it is possible for me to trade for a short duration which does not conflict with my class time. I would recommend forex trading to those people interested in trying it out for the first time.”

 

Following on from the popularity of these two competitions, further contests and promotions are being planned for the future.