FXCM (www.fxcm.com), the online currency trading broker, has joined with CNBC as the Official Currency Trading Sponsor of the CNBC.com Million Dollar Portfolio Challenge. The Challenge, a virtual trading competition that was previously limited to stock trading only, will now feature both stock trading and currency trading. Competitors will be allocated $100,000 in “CNBC Bucks” to trade currency on a platform powered by FXCM.  

 

By sponsoring the contest, FXCM will be introducing currency trading to a potential universe of new currency traders.

 

Drew Niv, CEO of FXCM, announced: “We are pleased to sponsor CNBC’s Million Dollar Portfolio Challenge. We believe FXCM offers superior trading technology and execution, and we are glad to have an opportunity to introduce the CNBC audience to currency trading. The contest gives us an opportunity to show why stock traders should also be trading currency, particularly in a bear-market environment.”

 

Registration for the CNBC.com Million Dollar Portfolio Challenge begins April 28 and trading begins May 12. Competitors are given $1 million in virtual CNBC Bucks, $900,000 for trading common stocks and $100,000 at ten-to-one margin for currency trading.* For 10 weeks, traders compete to win exciting weekly prizes for the highest percentage of weekly portfolio growth. At the end of the 10-week period, the top 6 players with the highest overall holdings in his or her portfolio will receive an aggregate of $1,000,000 in cash prizes, paid as annuities.

 

For a complete set of contest rules, and to register for CNBC.com’s Million Dollar Portfolio Challenge, please visit https://milliondollar.cnbc.com            

*Leveraged foreign exchange trading carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.