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US Forex Broker FXCM enhances the cooperation with CNBC and will now sponsor the One Million Dollar Portfolio Challenge – a virtual trading contest where each participant get 1 million virtual dollars and can trade currencies as well as stocks.

FXCM already sponsors CNBC’s  Money in Motion Currency Trading  TV show. With current stock market performance, will more participants dive into forex trading? Hopefully this sponsorship will assist the whole industry and maybe the winner will lean towards trading currencies rather than stocks.

Here are more details about this sponsorship, from the official press release:

 “CNBC Million Dollar Portfolio Challenge” Sponsored by  FXCM  is Now Live!

 

Traders and Non-Traders Compete to Win the $1 Million Dollar Grand Prize

 

NEW YORK, N.Y., Sept. 20, 2011 – If you’ve always wanted to be a millionaire, here is your chance!    Yesterday, participants commenced trading in the “CNBC Million Dollar Portfolio Challenge”, a virtual trading competition.    The “Million Dollar Portfolio Challenge” allows a participant to manage $1 million “CNBC Bucks,” to trade stocks and currencies for a chance to win the grand prize of $1 million dollars!

 

Registration for the “Million Dollar Portfolio Challenge” opened on August 22nd,  though the competition went live yesterday, with registered users now able to trade currencies on a platform provided by FXCM.    Those still interested in participating can register by going to,http://milliondollar.cnbc.com/  and clicking on the “REGISTER/ SIGN IN” link.

 

Drew Niv, CEO of FXCM, announced, “We are very happy to sponsor the CNBC Million Dollar Portfolio Challenge.    While the grand prize of a million dollars is a great incentive to participate, we also hope  CNBC’s Challenge allows participants to gain valuable education and experience trading both stocks and currencies. This experience could assist in expanding their personal trading portfolio(s) afterwards.”

 

FXCM  is also powering the  Currency Education Center, providing participants with a plethora of educational resources including:

  • Live webinars Monday through Friday at 9:00 AM ET to give traders a brief on the US market open. As well as webinars hosted at 1:00 PM and 9:00 PM ET to discuss trading strategies on various topics.
  • Full suite of educational videos covering the basics of currency trading to  currency trading strategies.

 

Register now and start trading for your chance to win a great prize! The participant with the highest total portfolio value at the end of the “Challenge” will be the winner of the $1 Million Dollar Grand Prize!    A prize will be awarded to the second place winner who will receive a 2012  Maserati  GranTurismo  Convertible Sport.    All prizes are subject to verification of eligibility. You can view all prizes and register for the CNBC Million Dollar Portfolio Challenge here  http://milliondollar.cnbc.com/.    For the Official Rules, visithttp://milliondollar.cnbc.com/Rules?.

 

About  FXCM  Inc.

 

FXCM  Inc.  (NYSE: FXCM) is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers worldwide.

At the heart of  FXCM’s  client offering is No Dealing Desk  forex  trading. Clients benefit from  FXCM’s  large network of  forex  liquidity providers enabling  FXCM  to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution, and trading from real-time charts.  FXCM’s  UK subsidiary,  Forex  Capital Markets Limited, also offers  CFD  products with no re-quote trading and allows clients to trade forex, oil, gold, silver, and stock indices on one platform. In addition,  FXCM  offers educational courses on  forex  trading and provides free news and market research throughDailyFX.com.

 

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.


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