MFX Broker to Recruit FX Prop Traders via Retail Competition
- Currently, only forex trading is included but in the near future MFX Broker is planning to launch prop on CFDs and stocks.
Belize licensed MFX Broker is launching an international competition to find traders who will handle proprietary accounts with $100,000 under management. The firm also says that it is giving traders a chance to become one of its top managers, as head of the new team of prop traders.
The selection process will consist of ten steps, including various requirements for Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term and trading capabilities. For the first six stages, for example, the use of experts advisors is not allowed.
Interestingly, the firm states that instead of the contest selection process, a trader can also just provide a statement of trading on a real account not necessarily opened with MFX Broker. In the case the results correlate with the requirements, the trader becomes a member of the prop team.
Igor Volkov, President of MFX Broker commented: “Frankly speaking we want to create a team of professionals of the highest level to work in close rapport with them further. We believe this cooperation is fruitful and mutually beneficial. Of course, we are not altruists and we are not going to give away hundreds thousands of dollars to everyone.
Igor Volkov, President of MFX Broker
To select the top, best of the best we worked out a special program '10 steps to success'. The challenger should be successful in all 10 rounds. But the principal point is that at all stages he risks only company funds. His personal risk is evaluated by $30 which he deposits in the beginning. But after completion of all the steps his profit may be dozens, hundreds, or even millions of dollars.”
Speaking with Finance Magnates, MFX Broker explained that currently only 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 tradi 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 tradi Read this Term trading is included, but in the near future they are planning to launch prop on CFDs and stocks.
Belize licensed MFX Broker is launching an international competition to find traders who will handle proprietary accounts with $100,000 under management. The firm also says that it is giving traders a chance to become one of its top managers, as head of the new team of prop traders.
The selection process will consist of ten steps, including various requirements for Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term and trading capabilities. For the first six stages, for example, the use of experts advisors is not allowed.
Interestingly, the firm states that instead of the contest selection process, a trader can also just provide a statement of trading on a real account not necessarily opened with MFX Broker. In the case the results correlate with the requirements, the trader becomes a member of the prop team.
Igor Volkov, President of MFX Broker commented: “Frankly speaking we want to create a team of professionals of the highest level to work in close rapport with them further. We believe this cooperation is fruitful and mutually beneficial. Of course, we are not altruists and we are not going to give away hundreds thousands of dollars to everyone.
Igor Volkov, President of MFX Broker
To select the top, best of the best we worked out a special program '10 steps to success'. The challenger should be successful in all 10 rounds. But the principal point is that at all stages he risks only company funds. His personal risk is evaluated by $30 which he deposits in the beginning. But after completion of all the steps his profit may be dozens, hundreds, or even millions of dollars.”
Speaking with Finance Magnates, MFX Broker explained that currently only 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 tradi 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 tradi Read this Term trading is included, but in the near future they are planning to launch prop on CFDs and stocks.