FxOptimax Pipsbook Contest

FxOptimax has just launched a new trading platform at almost functions like the eToro OpenBook called PipsBook. But to define it up, PipsBook is a free social trading platform that would allow FxOptimax traders to show up their portfolio to other traders let their trades copy or be copied by other traders automatically at your own desired limits (number of lots, number of leaders to copy, etc.) . In line with this launching, top 5 traders that is also a member of pipsbook can win up to $400 cash.

The PipsBook concept is based on two types of account, the leader account and the follower account. Choosing leader account would allow other traders to copy your trades and you must have a real account for that. Leader accounts can earn 0.3 pip rebate. Choosing follower account on the other hand would enable you to copy leader accounts’ trades, it doesn’t matter whether you use demo or real account. You can easily close your trades or enable your own stop loss and take profit on your MT4 account.

 

How To Participate in the Contest

  1. Open a real account with FxOptimax. You don’t have to fund your account but the minimum initial deposit is $10 and max leverage is 1:400 (other details of the broker here). You need to open real because it is where prizes are credited.
  2. Go to PipsBook and register using your email and nickname.
  3. Set your FxOptimax MT4 account whether you want it as a leader account or follower account.
  4. Choose your desired type of account by inputting your customer details (ID and password) at the “Settings” on left top menu of the members area.
  5. Click “Synchronize”.
  6. If you choose leader account, you can start trading immediately.
  7. If you choose follower account, look for leader accounts to follow by clicking “Top Traders” on right top menu of the members area.
  8. The trader with the highest profit percentage wins.

 
 

Allocation of Prizes
Place Prize
1st $400
2nd $200
3rd $100
4th $100
5th $100

 
 

Terms For The Contest
  1. For FxOptimax clients only.
  2. For this round the end time is at 1 January 2012 00:00 EST.
  3. Minimum of 10 trades should be made to be eligible for the prizes.
  4. Prizes are awarded only if there are 100 participants for the contest.
  5. Pipsbook account must be set to public. (It’s actually the default and for now, there is no option to choose private yet).
  6. Winners must be in profit to be awarded.
  7. FxOptimax has the right to change rules, accept, reject and disqualify participants.

 
 

Note: As stated followers can set their own number of lots and number of leaders to copy, and set their SL and TP on their MT4 that’s why they can still win over leaders.

 

There are 2 “following” option, explained as follows.
Fixed : You have to put the lotsize on the “Amount” field. If you want to copy all trades in fix 0.01 lot, put 0.01 at “Amount”
Dynamic : You have to put the allocated balance on the “Amount” field. If you have USD 1000 in your account, and you want to allocate USD 200, put 200 at “Amount”. In this case, if the Leader having USD 1000 balance opens 0.1 lot, it will be copied to your account with 0.02 lotsize (200/1000 x 0.1 lot).

 

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