Tuesday, 23 April 2013

March 2013 Demo Trading Contest Winners Announced

Congrats to the Top 10 Contest Winners ... and to the many others who came very close!

The winners have been officially declared and you can see the final rankings including the top 10 on the rankings page.  4 contestants were disqualified to get to the top 10; however, one of those was Steven Randolff who is staff here and just competing for fun.  Reasons for disqualification included potential exploitation of near-zero slippage on the demo feed (entering and existing many trades within 1 minute), and having multiple accounts.

The contest rules that caused disqualifications are:

Rule8. Any participant intentionally hitting the demo price feed off market will be disqualified.  We only review the trading activity of winners at the end of the contest to decide whether contestant will be disqualified. If we cannot be reasonably sure gains are not largely due to the low slippage of a demo account the account is likely to be disqualified, therefore accounts with many trades open for a very short period will likely be disqualified.

Unfortunately, there is no 'perfect' way to moderate a demo trading contest and ensure no cheating, but if we do not implement these rules it will become a contest of who is the best at cheating, or in other words, taking advantage of latency and lack of slippage.  Our goal is to give manual traders the same chance of winning as automated traders.  Please inquire in the forum if you need clarification.

Rule 10. One entry per household.  We will track and enforce this using several tracking methods.


We have emailed the winners to collect payment details and forward on payments asap.  If you are a winner please ensure you get us payment details within 30 days.  We will also email disqualified contestants so they can be sure to compete going forward in such a way they will not be disqualified.  I believe many contestants that could be exploiting the 'no slippage' factor are not trying to cheat and they just need to adjust to our rules.

We realize it must be very disappointing to be in the top 10 and then get disqualified, and we realize most contests on the web don't have much moderation, if any, so this is a change; nevertheless, we aim to keep our contests fair for everyone.


Excel Markets ECN Forex Broker Demo Account Trading Contest - $10,000 Cash Prizes! - April 2013In the future, we will expect to see many more disqualifications due to both Rule 8 and 10, but hopefully that won't be the case and contestants will catch onto how the rules are employed.

April 2013 Excel Markets Forex Demo Account Trading Contest
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