FXTM hosts contest to boost forex trading

FXTM (ForexTime), a leading foreign exchange (forex) broker, has held its inaugural ‘Battle Royale’ competition in Nigeria.

The event united traders and enthusiasts from diverse backgrounds in a quest for a coveted $2,000 prize pot while highlighting FXTM Academy’s commitment to enhancing trading skills.

The ‘Battle Royale’ was strategically designed to answer the age-old question: who makes more profitable traders, men or women? Two formidable teams, four talented men and women representing diverse regions of Nigeria, engaged in a spirited competition.

Each participant received $2,500 in their personal FXTM live trading account, with four weeks to demonstrate their trading prowess. Real-time coaching by FXTM trainers fostered insightful debates on trading strategies, empowering clients to identify and address their strengths and weaknesses.

The event not only provided valuable learning experiences, but encouraged participants to recognise and address their trading weaknesses. FXTM trained and seasoned expert, Matthew Anthony stated that “it was key to recognize one’s strengths and weaknesses; to keep a trading journal, learn from mistakes, and read daily articles on our website.”

Ayokunle Faniku, the most profitable trader, credited his success to rule adherence, fundamental understanding, technical analysis, and risk management.

Onyekaonu Victoria, a member of the female team, shared her insight, saying: “It has helped me to realise – we make mistakes, we can go back and look at our mistake – and we know how to move forward.”

While showcasing FXTM’s commitment to enhancing trading knowledge, the ‘Battle Royale’ spotlighted Nigeria’s ever-evolving financial landscape.

“As the Nigerian economy continues to grow, the finance sector witnesses significant changes, with the Nigerian naira remaining a focal point for investors. FXTM remains dedicated to providing insights for navigating Nigeria’s dynamic financial ecosystem effectively,” FXTM stated.


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