The Royal wedding is a hot topic, but you don’t have to be from a particular family or be in a certain country to be a king. FXCM Inc. (NYSE: FXCM) crowns a new king every month. King of the Micro is a forex trading contest for all FXCM Micro clients with a minimum of $500 in their account at the beginning of each month. To remain eligible, traders must execute a minimum of ten trades during the month. FXCM Inc. awards cash prizes every month to three Micro clients with the highest returns on their trades.

We interviewed the top three participants from the March contest to determine what set the "King of the Micro" apart from the second and third place winners. The three winners also shared their respective experience level, their preferred trading pairs, average trade holds, and the amount they invest in trading on a daily basis. Please join us in congratulating them.

Contest Winners


King of the Micro: Uhim Fan sees 1711.87% return* on his trades, wins $25,000 in cash


Forex Trading Experience
   

Preferred Trading Pairs
   

Average Trade Holds
   

Average Daily Trading

Four years
   

EUR/USD, USD/JPY
   

Typically one to two days. Sometimes more than two  weeks
   

Two to four hours if there is an opportunity

 

Advice to Traders: Be patient. Never be complacent in victories or give up in defeats.

Uhim Fan trades both stocks and forex. He trades forex because of its fast pace in comparison to stock trading, its low costs, and news transparency. Read the March King’s full survey and trading report.

Second Place: Chao Wang gets 753.20% profit*, wins $10,000

Forex Trading Experience
   

Preferred Trading Pairs
   

Average Trade Holds
   

Average Daily Trading

Six years
   

EUR/USD, GBP/USD, USD/JPY, USD/CHF,  AUD/USD
   

A week to several months
   

Over ten hours
 
Advice to Traders: Forex trading is no easy task and requires long-time practice. Stay calm and avoid looking for instant success.  Read forex books, learn technical indicators, avoid guessing peaks and bottoms at random, and don’t speculate with the data. Also, don’t become greedy and implement a risk-control system for yourself.

 

Read the second place winner’s full survey and trading report.


Third Place: Xiao Guo sees 448.63% return*, wins $5,000


Forex Trading Experience
   

Preferred Trading Pairs
   

Average Trade Holds
   

Average Daily Trading

Two years
   

Active pairs
   

A few days
   

Three hours

Advice to Traders: Be decisive when executing trades.