Discussion of the Forex Contest Squared Financial June 2015 Forex Contest
Jun 04, 2015 at 13:49
Forexmanager9 posted:
EVERYONE READ THE BELOW **CHAT HISTORY** AND STOP WASTING YOUR VALUABLE TIME ON THIS SHITTY CONTEST:
Chatting with London Sales.
An operator will be right with you!
Vinayak:HI
London Sales has joined the chat!
London Sales:Hello and welcome to Squared Financial. How can I assist you today?
Vinayak:I have a query with reference to contests that is being currently held on myfxbook
London Sales:sure
Vinayak:Is that contest open for all ?
Vinayak:I mean does one need to be a professional trader
London Sales:yes as long as they qualify to open a live account
Vinayak:What qualification is needed to open a live account ?
London Sales:main is trading experience and understanding of risks
London Sales:plus either of the two below
London Sales:1. working in financial markets
London Sales:2. financial assets over 500k
Vinayak:Ok.
Vinayak:And what if someone doesn't meet any of the criteria ?
Vinayak:If someone is just a retail trader ?
London Sales:if it is not even trading
London Sales:then sorry we cannot
London Sales:also our minimum is $5000
Vinayak:Are you trying to say that if a retail trader wins the contest but doesn't meet any of the qualifications then he won't be given the prize amount ?
Vinayak:??
London Sales:correct
Vinayak:Then why it's not mentioned anywhere in the contest rules ?
London Sales:It is
London Sales:it did say you will need to open a live account
Vinayak:Anyway, thanks alot you saved me from wasting my valuable time.
London Sales:you are welcome
hm...that truly is ridiculous. I understand they want to filter but that is poor filtering. And to force you to open and deposit live account. The platform must really suck. :D
And Squared Financial, Vin is right. It is not mentioned ANYWHERE in contest rules!
Unbelievable.
Thanks Vin.
Oh well,...next. :D
"Failure is simply the opportunity to begin again, this time more intelligently." ~Henry Ford~
Member Since Jun 24, 2012
13 posts
Jun 04, 2015 at 13:49
Eablessing posted:
no working eas?
EA's allowed
jaume.torne@
Jun 04, 2015 at 14:39
To all contestants:
The rules of the contest state:
To receive a funded Squared live account your account application will undergo the normal Squared account opening process including AML & KYC.
The normal account opening process for a Squared account requires proof of professional** client status (as defined under MiFID regulations) and AML and KYC checks.
We recognise that Contestants may not be able to satisfy this status. Our practice in this instance has been, and will continue to be, paying the prize money directly to the Contestant, when the 30 days after the date of deposit period has lapsed.
The Squared contest provides an actual opportunity to both non-professional and professional traders to a) demo a Squared MT4 account and to b) be considered for fast tracking to the trader development programme https://squaredfinancial.com/en/fast-track-tdp.
**A client who is to be treated as a professional client for the purpose of these Regulations must satisfy at least two of the following criteria:
(a) the client has carried out transactions, in significant size, on the relevant market at an average frequency of 10 per quarter over the previous four quarters;
(b) the size of the client's financial instrument portfolio, defined as including cash deposits and financial instruments, exceeds €500,000;
(c) the client works or has worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services envisaged.
The rules of the contest state:
To receive a funded Squared live account your account application will undergo the normal Squared account opening process including AML & KYC.
The normal account opening process for a Squared account requires proof of professional** client status (as defined under MiFID regulations) and AML and KYC checks.
We recognise that Contestants may not be able to satisfy this status. Our practice in this instance has been, and will continue to be, paying the prize money directly to the Contestant, when the 30 days after the date of deposit period has lapsed.
The Squared contest provides an actual opportunity to both non-professional and professional traders to a) demo a Squared MT4 account and to b) be considered for fast tracking to the trader development programme https://squaredfinancial.com/en/fast-track-tdp.
**A client who is to be treated as a professional client for the purpose of these Regulations must satisfy at least two of the following criteria:
(a) the client has carried out transactions, in significant size, on the relevant market at an average frequency of 10 per quarter over the previous four quarters;
(b) the size of the client's financial instrument portfolio, defined as including cash deposits and financial instruments, exceeds €500,000;
(c) the client works or has worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services envisaged.
Jun 04, 2015 at 15:22
sqfmkg posted:
To all contestants:
The rules of the contest state:
To receive a funded Squared live account your account application will undergo the normal Squared account opening process including AML & KYC.
The normal account opening process for a Squared account requires proof of professional** client status (as defined under MiFID regulations) and AML and KYC checks.
We recognise that Contestants may not be able to satisfy this status. Our practice in this instance has been, and will continue to be, paying the prize money directly to the Contestant, when the 30 days after the date of deposit period has lapsed.
The Squared contest provides an actual opportunity to both non-professional and professional traders to a) demo a Squared MT4 account and to b) be considered for fast tracking to the trader development programme https://squaredfinancial.com/en/fast-track-tdp.
**A client who is to be treated as a professional client for the purpose of these Regulations must satisfy at least two of the following criteria:
(a) the client has carried out transactions, in significant size, on the relevant market at an average frequency of 10 per quarter over the previous four quarters;
(b) the size of the client's financial instrument portfolio, defined as including cash deposits and financial instruments, exceeds €500,000;
(c) the client works or has worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services envisaged.
Thank you for clarifying this whatever your name may be.... Well guys and gals, good luck trading in this joke of a 'demo contest' if you choose to, I'm done... going to sit this one out... got a feeling we are having another 'FXChoice' type scenario here. Lets see how many of the contestants actually take part in this one. Maybe SF can beat the record of FXChoice of around 20%...
Cheers!
Keep it simple, be disciplined, get rich slowly and above all protect your equity!
Member Since Jan 09, 2014
110 posts
Jun 04, 2015 at 15:31
Demdorian posted:
why the difference of leverage?
agree with you ... the leverage is totally different .... i think myfxbook is scam . why they dont stop the contest or restart it again .
Member Since Jan 09, 2014
110 posts
Jun 05, 2015 at 07:01
Mrodri posted:
Strange how some trader have 1-200 leverage and I even noticed one trader gained a 100%, but yet'' no trade was placed on the account 😲
What is that about😕
just bust ur demo account . i bust my account . keep on going
Member Since Apr 10, 2015
29 posts
Jun 05, 2015 at 07:55
EVERYONE READ THE BELOW **CHAT HISTORY** AND STOP WASTING YOUR VALUABLE TIME ON THIS SHITTY CONTEST:
Chatting with London Sales.
An operator will be right with you!
Vinayak:HI
London Sales has joined the chat!
London Sales:Hello and welcome to Squared Financial. How can I assist you today?
Vinayak:I have a query with reference to contests that is being currently held on myfxbook
London Sales:sure
Vinayak:Is that contest open for all ?
Vinayak:I mean does one need to be a professional trader
London Sales:yes as long as they qualify to open a live account
Vinayak:What qualification is needed to open a live account ?
London Sales:main is trading experience and understanding of risks
London Sales:plus either of the two below
London Sales:1. working in financial markets
London Sales:2. financial assets over 500k
Vinayak:Ok.
Vinayak:And what if someone doesn't meet any of the criteria ?
Vinayak:If someone is just a retail trader ?
London Sales:if it is not even trading
London Sales:then sorry we cannot
London Sales:also our minimum is $5000
Vinayak:Are you trying to say that if a retail trader wins the contest but doesn't meet any of the qualifications then he won't be given the prize amount ?
Vinayak:??
London Sales:correct
Vinayak:Then why it's not mentioned anywhere in the contest rules ?
London Sales:It is
London Sales:it did say you will need to open a live account
Vinayak:Anyway, thanks alot you saved me from wasting my valuable time.
London Sales:you are welcome
Chatting with London Sales.
An operator will be right with you!
Vinayak:HI
London Sales has joined the chat!
London Sales:Hello and welcome to Squared Financial. How can I assist you today?
Vinayak:I have a query with reference to contests that is being currently held on myfxbook
London Sales:sure
Vinayak:Is that contest open for all ?
Vinayak:I mean does one need to be a professional trader
London Sales:yes as long as they qualify to open a live account
Vinayak:What qualification is needed to open a live account ?
London Sales:main is trading experience and understanding of risks
London Sales:plus either of the two below
London Sales:1. working in financial markets
London Sales:2. financial assets over 500k
Vinayak:Ok.
Vinayak:And what if someone doesn't meet any of the criteria ?
Vinayak:If someone is just a retail trader ?
London Sales:if it is not even trading
London Sales:then sorry we cannot
London Sales:also our minimum is $5000
Vinayak:Are you trying to say that if a retail trader wins the contest but doesn't meet any of the qualifications then he won't be given the prize amount ?
Vinayak:??
London Sales:correct
Vinayak:Then why it's not mentioned anywhere in the contest rules ?
London Sales:It is
London Sales:it did say you will need to open a live account
Vinayak:Anyway, thanks alot you saved me from wasting my valuable time.
London Sales:you are welcome
forex_trader_250282
Member Since May 17, 2015
2 posts
Jun 05, 2015 at 07:55
Forexmanager9 posted:
EVERYONE READ THE BELOW **CHAT HISTORY** AND STOP WASTING YOUR VALUABLE TIME ON THIS SHITTY CONTEST:
Chatting with London Sales.
An operator will be right with you!
Vinayak:HI
London Sales has joined the chat!
London Sales:Hello and welcome to Squared Financial. How can I assist you today?
Vinayak:I have a query with reference to contests that is being currently held on myfxbook
London Sales:sure
Vinayak:Is that contest open for all ?
Vinayak:I mean does one need to be a professional trader
London Sales:yes as long as they qualify to open a live account
Vinayak:What qualification is needed to open a live account ?
London Sales:main is trading experience and understanding of risks
London Sales:plus either of the two below
London Sales:1. working in financial markets
London Sales:2. financial assets over 500k
Vinayak:Ok.
Vinayak:And what if someone doesn't meet any of the criteria ?
Vinayak:If someone is just a retail trader ?
London Sales:if it is not even trading
London Sales:then sorry we cannot
London Sales:also our minimum is $5000
Vinayak:Are you trying to say that if a retail trader wins the contest but doesn't meet any of the qualifications then he won't be given the prize amount ?
Vinayak:??
London Sales:correct
Vinayak:Then why it's not mentioned anywhere in the contest rules ?
London Sales:It is
London Sales:it did say you will need to open a live account
Vinayak:Anyway, thanks alot you saved me from wasting my valuable time.
London Sales:you are welcome
what this plz let the broker explan this.
Jun 05, 2015 at 07:56
SO we retail trader has no benefit... This purely cheating by this broker bcos they did't told we need minimum assets 500K ? 😲
I am not qualified ? Did broker confirm what is it chat conversions..
We may qualify for live account opening but can't open account bcos we don't had 500K assets?? Right.
I am not qualified ? Did broker confirm what is it chat conversions..
We may qualify for live account opening but can't open account bcos we don't had 500K assets?? Right.
vivekrelish@
Jun 05, 2015 at 07:56
shift69 posted:Forexmanager9 posted:mmm...min 5k to open live acc, so if someone win 1st prize 3.5k he need to added 1.5k to get the price wtf!
EVERYONE READ THE BELOW **CHAT HISTORY** AND STOP WASTING YOUR VALUABLE TIME ON THIS SHITTY CONTEST:
Chatting with London Sales.
An operator will be right with you!
Vinayak:HI
London Sales has joined the chat!
London Sales:Hello and welcome to Squared Financial. How can I assist you today?
Vinayak:I have a query with reference to contests that is being currently held on myfxbook
London Sales:sure
Vinayak:Is that contest open for all ?
Vinayak:I mean does one need to be a professional trader
London Sales:yes as long as they qualify to open a live account
Vinayak:What qualification is needed to open a live account ?
London Sales:main is trading experience and understanding of risks
London Sales:plus either of the two below
London Sales:1. working in financial markets
London Sales:2. financial assets over 500k
Vinayak:Ok.
Vinayak:And what if someone doesn't meet any of the criteria ?
Vinayak:If someone is just a retail trader ?
London Sales:if it is not even trading
London Sales:then sorry we cannot
London Sales:also our minimum is $5000
Vinayak:Are you trying to say that if a retail trader wins the contest but doesn't meet any of the qualifications then he won't be given the prize amount ?
Vinayak:??
London Sales:correct
Vinayak:Then why it's not mentioned anywhere in the contest rules ?
London Sales:It is
London Sales:it did say you will need to open a live account
Vinayak:Anyway, thanks alot you saved me from wasting my valuable time.
London Sales:you are welcome
Nobody cares for the prize money. I believe all wants just to have their chances of making into top10.
Jun 05, 2015 at 07:56
First of all, i trade on daily chart and 300 trade per the period of 30 days is too much.
second if you look at the CHF pairs there is too much slippage.
i don't like market makers brokers.
some of the contestants started with 20.000 account!!
Am out, waste of time.
second if you look at the CHF pairs there is too much slippage.
i don't like market makers brokers.
some of the contestants started with 20.000 account!!
Am out, waste of time.
Jun 05, 2015 at 07:56
Forexmanager9 posted:
EVERYONE READ THE BELOW **CHAT HISTORY** AND STOP WASTING YOUR VALUABLE TIME ON THIS SHITTY CONTEST:
Chatting with London Sales.
An operator will be right with you!
Vinayak:HI
London Sales has joined the chat!
London Sales:Hello and welcome to Squared Financial. How can I assist you today?
Vinayak:I have a query with reference to contests that is being currently held on myfxbook
London Sales:sure
Vinayak:Is that contest open for all ?
Vinayak:I mean does one need to be a professional trader
London Sales:yes as long as they qualify to open a live account
Vinayak:What qualification is needed to open a live account ?
London Sales:main is trading experience and understanding of risks
London Sales:plus either of the two below
London Sales:1. working in financial markets
London Sales:2. financial assets over 500k
Vinayak:Ok.
Vinayak:And what if someone doesn't meet any of the criteria ?
Vinayak:If someone is just a retail trader ?
London Sales:if it is not even trading
London Sales:then sorry we cannot
London Sales:also our minimum is $5000
Vinayak:Are you trying to say that if a retail trader wins the contest but doesn't meet any of the qualifications then he won't be given the prize amount ?
Vinayak:??
London Sales:correct
Vinayak:Then why it's not mentioned anywhere in the contest rules ?
London Sales:It is
London Sales:it did say you will need to open a live account
Vinayak:Anyway, thanks alot you saved me from wasting my valuable time.
London Sales:you are welcome
Did I understand right?
You must deposit at least 5000$ when opening the live account, in order to get 3500$?
“If 90% of the traders are losing their money, do you really want to follow the same rules they do?!”
Member Since Apr 13, 2015
2 posts
Jun 05, 2015 at 07:56
Thnx vinayak
Member Since May 22, 2014
2 posts
Jun 05, 2015 at 07:57
Don't waste your time on this contest if you do not have 5000usd to open the account. Plain stupid, the rules are not mentioned. This broker really sucks to the maximum. Contest are meant for those who doesn't have big capital to trade, it's a bonus for good traders.
This broker totally broke the simple objective of this contest.
This broker totally broke the simple objective of this contest.
