TRADING CONTEST
Are you a school, college or club based in the US? Expose your students to the $7.5 Trillion daily FX market by launching your own FX trading contest via YieldFX.
Overview
Each club or school can launch their own trading contest that will be limited to their students and members. During the contest, participants will be able to test their FX trading strategies against veteran FX traders. At the end of the contest period, winners will be determined based on the percentage yield generated on their currency holdings.
During the contest period, participants will receive FX market updates from us daily to maximize their learning and allowing them to experience a realistic trading environment.
YieldFX will also offer cash prizes to contest winners. These prizes will be determined by the level of participation and will be in the form of gift cards or donations to their charity of choice.
How it Works
1) Once a contest is initiated, YieldFX will provide a shareable link which can be used to create a YieldFX account and sign-up for the contest.
2) All participants must register for the contest within the registration window (typically 7 days).
3) The YieldFX web app is designed to be mobile first, and users must access it via their mobile phone to create an account. No app installation is required. Once an account is created, users can also access the YieldFX app from their computers.
4) Each participant gets a $100,000 starting balance in a non-interest bearing “external” account. These funds can be used to invest in yield-bearing currencies.
5) During the contest, participants can invest in any currency or swap between different currencies to take advantage of FX and interest rate movements.
6) All transactions are based on real-time FX rates sourced from our partner FX provider and settle immediately.
7) Participants may not hold more than 20% of their portfolio in a single foreign currency.
8) A 5bps fee will be applied to all currency swaps.
9) Interest is credited on a daily basis. Earnings will be determined based on currency balances in user accounts at midnight each day.
10) The YieldFX app allows transfers to other users. It is recommended that users do not make transfers during the contest period as it may affect their earnings.
11) A real-time leaderboard will be displayed within the app. Rankings will be based on percentage yield and not on the value of the portfolio to account for any external transfers.
12) Each contestant will get 30 days from when the enroll in the contest. Final ranking will be determined when each participant completes 30 days.
Safety & Security
Contest participants do not need to share any personal information with YieldFX beyond their name, email address, and phone number. The app itself is web-based, and does not require an installation on their device.
YieldFX DOES NOT share this data with any 3rd party for any purpose. The primary use of this data is for account management, updates, and to gather user feedback.
