FXOpen, one of the leading brokers in the Forex market, became the organizer and sponsior of the Russian Forex Championship, held at forexcup.com from October 7th till November 29th. While the Championship was held among the Russians to find the Best Trader in the country, international traders were allowed to participate in the tournament as an experiment. There was a lot of hype around the event and its outcome was absolutely unexpected: the Chinese traders won.
The top three spots were actually taken by the Chinese traders. They are supposed to be awarded with US$3,000, US$2,000, US$1,000, respectively. However, according to the rules of the Championship, the main prizes can only go to Russian residents, while the representatives of other regions can share the bonus fund of the tournament. Thus, the winners from China only got bonuses from the profit made in the competition; the main prizes were awarded to the top Russian traders on the championship list.
FXOpen has repeatedly held regional Forex Championships. Traders from Asia, Ukraine, Moldova, and other countries were honored with the title of the Best Trader. According to Denis Peganov, Director of FXOpen NZ Limited and Chairman of the Championship organizing committee, “It’s time for Russia to give the world its Champion.” Apparently, no one expected international traders like the Chinese to win over their Russian counterparts; it was a total surprise.
To get more details on the contest outcome, please go to the ForexCup competition page and follow the discussion on the FXOpen Forum.