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Disclaimer

The contents of this blog do not constitute investment advice. Trading CFDs and Forex can be very risky and you can lose much more than your initial deposit. Seek professional advice before making any trades.

Top Trader 2009 Competition

RBS marketindex is launching a competition to find the best CFD trader. You trade using a demo account and each week there will be prizes for whoever increases their account by the most. Registration is open from the 29th June and the competition starts on July 6th.

Prizes are £5000 cash, a Dell laptop and an iPhone 3GS 16GB.

As this is a competition the strategy you adopt for trading should be different to how you would normally trade. In the real world slow and steady is the best way to make way money from trading. This strategy won’t however win you any prizes in a competition like this!

If you want to win you will need to place high risk/high reward bets. Yes there is a good chance that you will blow your account, but as it is only a demo account it doesn’t matter. You have to make at least 20 trades in the four weeks of the competition to qualify for the prizes.

If you want to experiment with a new trading platform without risking your real money then this could be a good opportunity to do it. And unlike a standard demo account there is a very small chance that you might win something at the end.

If you enter then good luck, and let me know how you got on.

You can find the full details here.

Footnote: RBS marketindex is run by ABN Amro. This is the Dutch bank that RBS (in a consortium with a few other institutions) took over in 2007 in a deal worth 70 billion Euros. At the time RBS was lead by Fred Goodwin, and the deal is widely regarded as one of the main factors that brought RBS down.


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