V7.1.0 - Game Changer: Trading Competitions Unleashed!

Learn about all the details of all our recent CRM updates here.

Released Date - 20 October 2023

Get ready to excite your traders with our latest feature: The Trading Competition module. Amp up the trading thrill by hosting trading competitions for your traders to battle it out for the top spot and win enticing prizes. Launch competitions with unprecedented ease complete with leadership boards and the flexibility to automatically distribute rewards. Install the module today and create an electrifying experience for your traders! Please note that Trading Competition is currently available for MT4 and MT5 only.

Summary

Trading Competitions

1. Bespoke Competitions with Exhilarating Leaderboards Craft personalized trading competitions with eye-catching banners, rules, and rewards, then watch the excitement unfold as your clients compete head-to-head on a dynamic leaderboard.

2. Maximize Your Profits with Flexible Prizes and Revenue Boosts Enhance your revenue streams by charging participation fees and enjoy the freedom to choose between automated or manual prize payouts, giving you full control over rewarding your top traders.

3. Uphold Fair Play and Competition Integrity Ensure the integrity of your competitions by having the power to suspend participants who don't meet your criteria, guaranteeing that prizes are awarded to the most deserving winners.

Trading Competitions

1) Marketplace Installation & Permission Settings

To begin using the Trading Competition module, follow these steps:

Step 1

1. Go to the CRM Marketplace.

   
2. Find the Trading Competition module and click on it.

   

Step 2

1. You will be directed to the details page where you can learn more about this feature.

   
2. To initiate the installation, please get in touch with your dedicated account manager.

Step 3

1. Once the installation is complete, you will need to configure the necessary permissions.

   

   
2. After granting the required permissions, you will find "Trading Competition" in the Back Office navigation menu.

   

2) Trading Competition Menus

In the Trading Competition module, you'll find two side menus:

1. Competition Settings: This section allows you to set up and configure your trading competitions according to your preferences and requirements.

2. Competition Statistics: Here, you can access detailed statistics for each competition, including information on participant numbers, rankings, prize reports, and more.

   

3) Creating Trading Competitions

To create a new trading competition, you will need to complete the following steps:

1. Create & Configure Competition Settings

2. Configure Competition Banner

A) Create & Configure Competition Settings

To create and configure competition settings, follow these steps:

Step 1

1. Navigate to Competition Settings menu.

2. Click "New Competition".

   

Step 2

1. Fill in the following details:

   • Competition Name

   • Trading Server

2. Select registration fee and fill in the amount if you wish to charge clients a registration fee before they can participate in the trading competition. There are 2 payment methods:

   • Prepayment of Registration Fee: Clients will be redirected to the deposit page to make the payment.

   • Deduct Registration Fee from Competition Account Balance: The registration fee will be directly deducted from the trading account selected by the client for the competition.

3. Fill in the description. This section is for you to provide more information on the registration fee. If no registration fee is set, you will not need to fill this in.

   

Step 3

1. Select the Client Portal Leadership Display Range.

   • This allows you to select the number of rankings you wish to make available to your clients.

   • The available options are: Top 3, Top 5, Top 10, Top 20 or Top 30.

2. Select the Ranking Rule.

   • Currently, only profit percentage is available.

   • Profit Percentage = [End Balance - (Initial Balance + Deposit During Campaign)] / [Initial Balance + Deposit During Campaign] x 100%

   
3. Setup the Prize Settings.

   • Competition prizes are paid out in a fixed amount.

   • Specify how much you wish to pay out for the top ranks.

   • You can choose to payout as many ranks as required by clicking the "Add" button.

   

Step 4

1. Fill in the Following:

   • Campaign Time Zone

   • Competition Time Frame: This is the period during which the competition is ongoing.

   • Registration Time Frame: This is the period during which clients can register for the competition.

2. Selec how you want the prize to be paid out:

   • Trading Account Balance

   • Trading Account Credit

   • CRM Wallet

3. Select the Prize Payout Method:

   • Automatic: You will need to set the prize payout time. At this designated time, the prizes will automatically be paid out to the clients.

   • Manual: You will need to manually payout the prizes to your clients.

4. Click Save.

   

B) Configure Competition Banner

To configure the competition banner, follow these steps:

Step 1

After creating and configuring the new competition, click the "Settings" icon.

Step 2

1. Upload the cover thumbnail and campaign poster.

2. Enter the campaign details in the respective languages.

3. Click the "Save" button to save your configuration.

   

4) Trading Competitions Operations

A) Viewing Trading Competition Details

To view trading competition details, follow these steps:

1. Locate the trading competition you want to view.

2. Click on the "View" icon.

   
3. The competition details will be displayed for your reference.

B) Editing Trading Competition Details

You can edit the following settings for trading competitions:

Trading Competition Banner & Description

• You can edit the competition banner and description for upcoming and enrolling trading competitions. Enrolling means that the registration window is currently available for clients to join.

• Please note that competitions that have already ended cannot have their banner and description modified.

• To edit the competition banner and description, simply follow these steps:

  1. Find the competition you wish to modify and click the "Settings" icon.

     
  2. Make the desired changes.

  3. Click "Save."

     

Trading Competition Settings

• You have the option to adjust competition settings, but this is only applicable to upcoming competitions.

• Competitions that are currently enrolling or have ended cannot have their settings altered.

• You will be able to amend all settings except for the trading server and registration fee settings.

• To make changes to the settings, just follow these steps:

  1. Locate the competition you want to adjust and click the "Edit" icon.

     
  2. Make the necessary modifications.

  3. Click "Save."

     

C) Deleting Trading Competitions

• You can only delete upcoming or ended trading competitions.

• Competitions that are currently enrolling or ongoing cannot be deleted.

• To delete a trading competition, follow these steps:

  1. Find the competition you want to delete and click the "Delete" icon.

     
  2. You will receive a prompt that deleting the competition will also erase all historical data associated with it. Click "Confirm" to proceed.

     

5) Competition Statistics

Under the Competition Statistics menu, you can access the following details:

Competition Accounts

1. This provides a list of clients who have registered for the trading competition.

2. To view this list, simply locate the trading competition you're interested in and click the "Competition Accounts" icon.

   
3. You'll see details such as the trading account ID, client names, and the payment method used for the competition.

4. You also have the option to suspend trading accounts from the competition; to do this, locate the client and click "Suspend."

   
5. Once an account is suspended, the client will not appear on the leaderboard and will see that their account is suspended. Their profit percentage will be empty.

   
6. You can re-enable the suspended account by clicking the "Activate" button.

   

Leaderboard

1. The leaderboard displays the rankings of your clients based on their profit percentages.

2. To view the leaderboard, find the trading competition you want to check and click the "Leaderboard" icon.

   
3. The leaderboard is updated every 3 hours, and you can see the last updated time.

   

Trade History

1. To access the trade history, locate the trading competition and click the "Trade History" icon.

   
2. You can view the trade history of all participants in the trading competition.

   

Prize Report

1. The prize report reveals the awards given to the top-ranking traders.

2. To view the prize report, locate the trading competition you're interested in and click the "Prize Report" icon.

   
3. If prize payout is set to be automatic, prizes will be paid to traders on the scheduled settlement date. You will be able to see the payout status accordingly as well.

   
4. If prize payout is set to be manual, you will be able to see the list of prizes to be paid. To payout prizes, follow these steps:

   • Select the traders.

   • Click "Payout".

     
   • You'll be able to see the payout status respectively.

     
   • If any of the payout failed, you can repeat the process to retry payout.

6) Trading Competitions Approval Settings

1. You can customize the approval settings for trading competition participation requests from your clients.

2. The available approval settings are:

   • Automatic - all requests submitted will be automatically approved. Your client can start trading and compete in the trading competition immediately after registering. For Automatic approval settings, you can choose the request types that will be automatically approved. The available options include:

     • No Registration Fee

     • Prepayment of Registration Fee (Online Payment Only)

     • Deduct Registration Fee from Competition Account Balance

     For instance, if you select "No Registration Fee," it implies that all requests to participate in trading competitions with no registration fee will be automatically processed, while others will still need manual review from you.

   • Manual - all requests submitted will be forwarded to you. Your client must await your review and approval before they can participate in the trading competition.

     

To review the requests, follow these steps:

Step 1

1. Go to Approval > Trading Competition.

2. Find the request you want to review and click "Review."

   

Step 2

You can choose to either "Approve" or "Reject" the request.

7) Joining Trading Competitions

To register for a trading competition, your client should follow these steps:

Step 1

1. Go to the Trading Competition section in the CRM Client Portal.

2. They can see a list of trading competitions with their respective statuses.

   
3. When they click onto a trading competition, they can read its description.

   
4. Clicking on "Leaderboard" will display the current rankings of traders.

Step 2

1. To register, simply click "Register Now."

   
2. The registration process differs depending on the registration fee settings for the trading competition:

   • Prepayment of Registration Fee

     1. Select the trading account you want to register with and click "Next".

        
     2. Your client will be directed to the payment page. They will need to choose their preferred payment method.

        
     3. Complete the payment process. Please note that once the payment is made, it won't appear in the client's CRM wallet or trading accounts; it's a direct payment to you.

        
     4. A request will be sent to you.

   • Deduct from Competition Account Balance

     1. Select the trading account for registration.

        
     2. If there aren't sufficient funds for the registration fee deduction, your client will be notified and unable to register with that trading account.

        
     3. Otherwise, your client can click "Submit."

   • No Registration Fee

     1. If there's no registration fee, your client only needs to select the trading account and submit the request.

        

Step 3

1. After submitting the request, the client will be directed to the request history page to monitor its status.

   
2. If the trading competition approval settings are automatic, the request will be automatically approved, allowing the client to start trading and competing.

3. If the approval settings are manual, you will need to review the request through the CRM Back Office. The client will have to wait for your approval before they can participate and begin trading.

8) Trading Competition Leaderboard

1. Your clients will have access to the leaderboard for the trading competition.

2. The number of rankings displayed will depend on your leaderboard display settings for the trading competition.

   • For example, if you set it as "Top 3," your clients will only see the top 3 traders along with their own ranking.

   • If you set it as "Top 20," your clients will see the top 20 traders and their own rank.

3. To protect the identity of the traders, the names of the traders will be partially hidden with asterisks (*).

4. The leaderboard is updated every 3 hours, and the time of the last update will be displayed.

   

9) Trading Competition Reports

1. New filter types have been added for trading competitions:

   • Trading Competition Bonus

   • Trading Competition Registration Fee

2. Streamline your reporting by utilizing these filters for trading competition-related data.

3. In the Transactions Report on CRM Back Office, you will be able to filter the report accordingly.

   
4. Similarly, on the Client Portal, your clients will be able to see the transactions in relation to the Trading Competition. This can be found under Funds > Transactions.