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April FXCM King of the Micro Winner sees 632% Profit*

By Gregory Kelly
18 May 2010 15:52 GMT

 5-18

New York – May 18, 2010

With uncertainty surrounding the Greek bailout weighing down euro pairs, the fear of a hung UK parliament battering the pound, and the U.S. dollar suffering losses against the Japanese yen and New Zealand dollar, currency markets brimmed with opportunities throughout the month of April.

Traders eager to test their forex market mettle in April entered the King of the Micro Contest, a monthly competition hosted by FXCM in which traders from around the globe vie for the King of the Micro crown and its accompanying $25,000 purse. Since the inception of contest in early 2009, FXCM has given away over half a million dollars in winnings.

FXCM April 2010 King of the Micro Winners

(***Disclaimer: Although the information expressed in the following release was obtained from actual FXCM account records, gains of the magnitude described below are not typical and therefore not representative of the majority of forex traders.***)

Grand Prize: $25,000
Who: Su Baoyi (China)
Percentage Gain: 632.23 %*
How: Using technical analysis to trade across a variety of currency pairs, Baoyi saw his biggest gains in the AUD/USD and USD/JPY markets.
Personal Quote: “If you like trading forex, make it part of your life,” says Baoyi. “Engage in it with more passion. Doing something you like is a pleasure.”
Trading Record: Report / Survey

Second Place: $10,000
Who: Zhao Xu (Singapore)
Percentage Gain: 550.69%*
How: Capitalized most off of short term trades of EUR/USD, sometimes opening and closing positions within seconds to lock in profits.
Personal Quote: “Forex trading has made me a better person at work and in life.”
Trading Record: Report / Survey

Third Place: $5,000
Who: Lam Kai Lung (USA)
Percentage Gain: 473.66%*
How: Allowed trades on USD/CAD and GBP/JPY to remain open for several days, giving them time to develop and yield sizeable returns.
Personal Quote: “[Forex trading] strengthens my will, trains me to control my emotions, and improves myself as a person…. It also taught me to face the things around me and life itself with a positive attitude.”
Trading Record: Report / Survey

What is King of the Micro?

King of the Micro is a currency trading contest hosted by FXCM, which gives away cash prizes every month: $25,000 for the trader with the highest trading return, $10,000 to second, and $5,000 goes to third place. Since its inception, FXCM has awarded over $500,000 in cash prizes.

King of the Micro has given traders around the world the chance to be King. In the past, winners have come from the U.S., China, Malaysia, Canada, and the U.K, among others. It’s free to enter and no registration is needed, making it easier than ever. All you need to do is be an FXCM client with $500 in your Micro account at the beginning of each month, and you’re automatically entered. You also must make ten trades during the month to remain eligible.

For more information on the King of the Micro contest, to read the full contest rules, and to deposit money into your FXCM Micro account, click here.

FXCM Micro is a division of FXCM that provides new traders with access to the currency markets for as little as $25. With a small (1K) lot size, FXCM Micro provides a great way to get started in the forex market. FXCM Micro is offered for individual, self-traded accounts.

FXCM Holdings LLC Facts

Forex Capital Markets (FXCM) is a leading global forex broker that caters to both retail and institutional markets. Founded in 1999, FXCM is one of the largest brokers, regulated by several of the world’s most respected financial authorities.

At the heart of FXCM’s client offering is No Dealing Desk† forex trading. Clients have Direct Market Access to some of the world's largest forex liquidity providers, enabling FXCM to offer clients spread as low as 1 pip on major crosses. Clients also have the benefits of mobile trading, one-click order execution, and trading from real-time charts. FXCM’s CFD product** offers no re-quote trading and allows traders to trade oil, gold, silver, and stock indices, along with forex on one platform. In addition to currency and CFD trading, FXCM offers educational courses on forex trading, and provides free news and research through DailyFX.com.

* Past performance is not necessarily indicative of future results.

† Please note, FXCM Micro, in its discretion, may or may not offset individual transactions unlike transactions in most FXCM standard accounts. For additional information, click here.

** Please be advised that CFD accounts are not available residents of the U.S or its territories.

Risk Warning: 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.

Press Contact:

Gregory Kelly

Email: gkelly@fxcm.com

Phone: (646) 432-2122

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

18 May 2010 15:52 GMT