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!
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Traders and Non-Traders Compete to Win the $1 Million Dollar Grand Prize
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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 Challengeâ€, 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!
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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.
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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.â€
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.
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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?.
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About FXCM Inc.
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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.
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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.
