?> Help on Tradermatch Forex Simulator

What are CFD ?

Contracts For Difference, thus called CFD (contract for difference) offer to the investor all the benefits of holding an asset without the need of owning it.
A CFD is an agreement between two entities: a buyer and a seller which allows to trade the difference between the current value of an asset (raw materials like gold, oil, stock market indices, stocks) and its value at the end of the contract period. If the difference is positive, the seller pays the corresponding amount to the buyer. If the difference if negative, the buyer owes it to the seller and he loses money.
The price of a CFD follows the price of the underlying asset. The transactions fees are often included in the spread (difference of price between the bid price and the ask price). Thus you know exactly what your gain or loss will be when you close your position.
These contracts give the ability to investors to bet on price movements without owing the underlying asset.
Using an important leverage, these transactions allow to multiply the small daily movements of prices while using a small capital, a fraction of the operation to cover the investment.Margin vary from one broker to another and depend of the underlying asset
It is important to be aware that the leverage effect can multiply gains and can multiply losses as well.



What is Forex?

The Foreign Exchange Market (Forex) is an international market where you can simultaneously buy one currency and sell another. Currencies are traded through a broker or a dealer in what are called currency pairs. The FX market spans the whole world and stays open 24 hours a day, 5 days a week. The Forex market is the largest in the world.
Unlike other markets the Forex market does not have a central exchange, and has no physical location. The Forex trading market functions by working through a huge network of banks, corporations, and individuals who all trade currencies with each other.
A Forex trader trades currencies against each other. Each currency has its own exchange rate and they are traded in pairs. The traditional way to write this out is XXX/YYY. Forex currency symbols always have three letters. The first two letters are the name of the country while the third letter stands for the name of that country's currency.
The first currency is called the base currency. This currency is what you will be using to make your purchase. The second is called the counter or secondary currency. This is the currency that you will be purchasing. For example if you trade USD/ JPY you would be using US Dollars to buy Japanese Yen.




Tradermatch Objectives

Tradermatch is a realistic forex trading simulator which allows members to compete with each others and improve without risk their forex trading skills



While you can improve your trading by testing new strategies, Tradermatch helps you get a better trader by spying on the best members. Everyone gets a rank and many useful statistics, so you can easily find the best traders



Who can participate ?

Everybody !

You want to start trading forex: yo made the right choice to start with a risk free simulator before facing the financial risks of high leverage trading.

 

You are an experienced trader: Compete with other fellow traders and try to gain the first place of our ranking. Test new strategies to improve your trading

 

You're a professional: Promote your services and website by showing the world what you're capable of!

 

Stars and performances...

Members receive stars and badges for their rank and performances of their trades

Main ranking

The main ranking is based on the Tradermatch Rating, a house benchmark which is computed using the trader's return over several periods of time.5 1 year, 6 months, 3 months, 1 month)

Members receive a fancy T-shirt badges, inspired by the french bicycle race " Le Tour de france" :

Ranking over different periods

Has already ranked first

First at the ranking since inception

Year Leader

Best trader over 6 / 3 / 1 month

Best trade of the month in %


Start trading

Instruments that you can trade on tradermatch


Forex: Major forex currency pairs. Forex and raw materials cfd can be traded 24/24 from sunday 11PM GMT+1 to friday 11PM GMT+1.
CFD:
France CAC40 index / CAC40 CASH
US DOW JONES 30 index
For technical reasons, the DOW JONES and the CAC40 CFD can only be traded while the stock markets are open


How to make a trade, close a position, modify or cancel a trade

BUY / SELL
Click on New trade


Several order types are available:
Market Order:
You want to buy or sell without price limit at the bid price (if you're buying) or at the offer price (if you are selling).

LIMIT order:
You set a price limit for your ordre. Thus you are sure to have your order filled at this maximum price (for a buy order) or at this minimum price (for a sell order).

If the actual bid price is currently over your limit (if you want to buy), your order is queued and not executed.
If the actual offer price is currently under your limit (if you want to sell), your order is queued and not executed.

STOP order
You set a minimum price (when buying) or a maximum price (when selling) which will trigger your order. As soon as the bid price (for a buy order) goes over this price level, your order is filled. As soon as the offer price (for a sell order) goes below this price level, your order is filled.




Execution times and delays:
Forex: Market orders are immediately filled on TM. Limit orders and Stop orders are filled with 1mn delay (if price is reached of course))
CFD / Indices: Orders are filled with 15mn delay.

Closing a position
From your portfolio page, click on the orange button to sell your position, or on the green button to buy back your position (after a short trade) and proceed with the type of order you want on the next page.

Trades can be automatically sold if the target price is reached, or if the stoploss is reached?


You can cancel a trade, but only 30 ln after it has been entered, in order to prevent users from taking advantage of the price delay (for indices and limit orders).



Performances computations

Trade returns are computed with regular commissions and spreads:
Forex: 0.00375%% fees per order apply (this actually correspond to 1 pip of spread).
CFD on indices: A fee of 0.05% per order applies (corresponds to 2 pips of spread).


Leverage / Margin:

The allowed levergae is 1:50 for the forex instruments and 1:20 for indices


Margin Call

In case of margin breach (when your account goes beyond the authorised leverage), one or several positions will be automatically closed by the system at market price.


Note that using a stoploss will allow you to decrease the required amount to cover your investment (see by yourself how the required cover moves when you set a stoploss on the trade page).

How many accounts can I open ?

We tolerate 2 accounts per user, but you will have to register with a different email for the second one and use the same username radical (eg: john/john2).

 

RESET

You can reset your account once every month and start with a fresh new capital. A red button in the right panel allows you to do that. Beware that this information will be public and other members will see how many times you resetted your account.



What to do if I notice an error on a trade/price ?

We do our best to have our price feed stick to the real prices, but it may happen that a price is not right. Don't worry, just contact us and we'll correct your trade.

If you didn't find the answer to your question on this help page, we'll be more than happy to answer you directly.

Contact us




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