FX Promotions Race Reaches New Heights as IronFX Offers a Flight to Space

IronFX Global, the Cyprus-based online broker, has announced that it is launching its biggest live trading competition,“The IronFX Intergalactic Trading Competition,” where Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Read this Term traders will compete for a place aboard a Virgin Atlantic spaceship.

As more and more Forex and binary options brokerages have recently signed sponsorship deals with leading sports teams in popular fields such as soccer, basketball or F1 car racing, IronFX found a way to be original with a prize that is truly out of this world. It would be quite interesting to see if this move ignites a space race among the other brokers to match the sports race that is already ongoing.

Running from September 1 until December 31, 2014, IronFX traders will compete for the prize of an experience on a suborbital spaceflight worth $250,000, and will “make history” by being the first trader in space as boasted by the company.. The broker is also offering up to $5,000 in cash to one hundred runners-up of the competition, making this the firm's most expensive live trading competition to date.

Markos A. Kashiouris, Chairman & CEO of IronFX Global commented: “IronFX is unmatched in its efforts to reward clients and partners with unbeatable prizes and once-in-a-lifetime experiences. The ultimate prize of a trip to space is unique in the forex industry, and represents our tireless commitment to unrivalled innovation and incomparable excellence.“

This is not the first time IronFX has pulled an expensive publicity stunt like this. Beyond offering luxury prizes such as two Ferraris and a Lamborghini before, the broker also agreed to pay a sum of nearly three million euros earlier this year for a sponsorship deal with the Spanish football club, FC Barcelona, so that the broker could use the club's image it's advertising.