LiteForex introduces a rather unique real trading contest — "Feel the Spread" — a Forex contest where traders try to trade as much volume as possible, paying as little spread as possible. It's a weekly contest that runs every Tuesday from 00:00 till 23:59. Floating Spread account is required to participate in it. Traders are rated by the sum of order volumes divided by the average spread paid for a given order (average spread is determined as the sum of the spreads on opening and closing divided by 2). Top 7 participants get the following prizes:
The bonus funds can be used and withdrawn without any restrictions.
You decide to participate in the "Feel the Spread" contest and already have a Floating Spread account. During the course of the contest you open and close 5 positions:
- EUR/USD 2 lots, open spread 2 pips, closing spread 2.8 pips.
- GBP/USD 1.8 lots, open spread 2.9 pips, closing spread 2.8 pips.
- USD/JPY 2.3 lots, open spread 1.5 pips, closing spread 1.5 pips.
- EUR/USD 1 lot, open spread 2.1 pips, closing spread 3.2 pips.
- EUR/USD 2.4 lots, open spread 1.9 pips, closing spread 2 pips.
Your total result is 2 / ((2 + 2.8) / 2) + 1.8 / ((2.9 + 2.8) / 2) + 2.3 / ((1.5 + 1.5) / 2) + 1 / ((2.1 + 3.2) / 2) + 2.4 / ((1.9 + 2) / 2) = 4.6.
Disregarding the profit or loss from your trades, this qualifies you for the 5th place and a cash prize of $50.
All trading instruments except CFD for NYSE stocks can be used during the contest.
All trading methods and strategies are allowed if they don't contradict the usual Terms and Conditions.
There is no limit on deposits and withdrawals during the contest.