I saw on a forex contest where many people have profit of 100% per month, the best has 1000%, the contest has a leverage of 1:30. How is it possible?

By FXVNOL

QuestionsCategory: QuestionsI saw on a forex contest where many people have profit of 100% per month, the best has 1000%, the contest has a leverage of 1:30. How is it possible?
1 Answers
FXVNOLFXVNOL Staff answered 7 months ago

It is posible for some reasons.

  1. It is a demo account contest normaly. So in demo the trading condition is different than real:
    1. No pressure
    2. Spread is smaller
    3. Execution is instant
  2. Some will try to cheat, you know there are guys willing to create hundress of email and sell them for 1$ each. So if a contest is 3000$ rewards, there would be many of them. There are many ways to cheat:
    1. Have 100 accounts, 50 buy , 50 sell 10 lots, wait for a day until 50 account got margin call. Now you have 50 accounts with maybe x200%. Now devide by 25 accounts sell and 25 accounts buy 10 lots. Continues until you have 1 account of supper supper crazy..
    2. Just try any systems anf goal all in for it.
    3. ..

Anyway all kind of cheat just waste of time.

>