How do I login and use the trading platform?

Logging into & using the Trading Platform

  1. Passwords: Students with ‘Gmail’ accounts should check their ‘promotions’ folder for the email that contains their username and password. Most passwords include an asterix….Make sure you put the asterix at the end of the password.
  2. Platform: Please login to the ‘Trading Platform’ not the Share Navigator website.
  3. Paper Trading: Make sure you select ‘simulated’ or ‘paper’ trading when logging into the trading account.
  4. College Wifi: If you are using college wifi, the firewall may prevent the platform from loading. Please switch to your network provider and it will work perfectly.
  5. Tutorials: Click Here to access training videos on how to use the platforms.

 

Can I change the default trading quantity or limits?

Yes.These trading limits are default ‘safety’ type features built into the system. They were designed to stop people with ‘real’ accounts to not over expose themselves in one trade. They are only guideline features.

You can reset the limits or simply override them.
Can I trade XAU USD or Crypto Currencies?

No. Only FX pairs can be traded for the purposes of the competition.

I'm not a third level student, can I register for the competition?

No. Only third level students registered with an Irish college or university can enter the FX Trade off competition.

Can I trade equities, options, bonds or commodities during the competition?

No. Only FX trades will qualify for the FX Trade Off competition. Returns from any asset other than ForEx will not be included in the trader’s overall ROI. Persistent trading of non-FX asset classes may result in the expulsion of the trader from the competition.

Who is promoting this competition?

Bank of Ireland Global Markets are promoting this competition. Share Navigator (A DCU based Fintech) are providing the e-learning software and trading software to enable you to participate in the competition.

Who are Share Navigator?

Bank of Ireland Global Markets are promoting this competition. Share Navigator (A DCU based Fintech) are providing the e-learning software and trading software to enable you to participate in the competition.

Is there any training provided?

Yes. Bank of Ireland Global Markets and Share Navigator have developed an FX e-learning course that will give you the basics of the FX market and how to place trades using the software. Click Here to access the training.

Is it FREE to participate?

Yes.

What are the prizes?
  • The winners of the competition will be notified by e-mail and posted on boi.com/fxtradeoff within 3 business days of the closing date. Prizes include:
    • Internships / Graduate Mentoring (details will be discussed directly with the winning participants. The specific set-up (i.e. duration) is subject to business needs.
    • Cash Prize
      • First Place: 1,500 Euro
      • Second Place: 1,000 Euro
      • Third Place: 750 Euro
      • Fourth Place: 500 Euro
      • Fifth Place: 250 Euro
    • Intervarsity cash prizes. Societies from the following colleges will be eligible to win €3,000 prize for best society in their respective college; DCU, NUIG, TCD, UCC, UCD, UL. This prize goes to the society with the highest return on investment from their top ten performing students and is handed out to the society of the students.
    • Societies from the above 6 colleges and CIT, Tralee IT, Athlone IT, Mary I and GMIT are eligible to win €10,000 prize for the best society in Ireland. This prize goes to the society with the highest return on investment from their top ten performing students and is handed out to the society of the students. If the students should be members of different societies, they must allocate one society at registration for whom they will compete. For a society to be eligible for the prize they must have a minimum of 10 traders in the competition. Please note, should a society from DCU, NUIG, TCD, UCC, UCD or UL win the overall €10,000 prize for best performing Society in Ireland, there will be no €3,000 prize for that college.
  • Bank of Ireland reserves the right to substitute a prize with one of equal or greater value. Winners cannot exchange or substitute the prizes for another one. If a winner cannot accept a prize, the prize will then be allocated to the runner up. If a student wins the Internship/Graduate Mentoring prize, he or she agrees to start the interview process within a timeframe of one year.
When does registration end?
  • Registration for the waitlist closes on October 3rd 2018
When does the competition start?

The competition starts on October 5th 2018

When does the competition end?

The competition ends on November 9th 2018.

How are the winners adjudicated?
    • Winners will be based on rate of return for the portfolio between Oct 5th and Nov 9th.
    • The top 10 best performing students from each society will count towards the best performing society prizes.
    • Note: In order to qualify for the best performing College/University there must be at least 10 students participating in the FX Trade-Off competition from that College. Each student must have placed at least 5 FX trades in order for their score to count.
Can I use leverage?

Yes. Each simulated account has a ‘margin’ facility. This allows you to trade with more than $1,000,000 of capital. The leverage amount will depend on the currency pair that you are trading. Please note that leverage can cause huge losses in your portfolio. It is up to you to manage your risk!

Click here to see guidelines on the use of margin on FX trades.

Do I need to be studying business or have a knowledge of FX to enter?

No. We have made this competition open to all students who are interested in trading or would like to try it. Educational materials are provided and these have been designed to cover the very basics of FX markets all the way to in-depth analysis of major world events and their impact on the markets

How many trades can I have on at once?

There is no upper limit on the amount of trades you can have on, the only limiting factor is the amount of funds you have.

Can I trade cryptocurrencies such as Bitcoin and Ethereum?

No.

Who can see my profile/trade history?

Your profile and trade history aren’t available to the public or to any other competitors.

How do I access the learning material?

Click Here to access the training material. It can also be accessed from the homepage of the FX Trade Off competition. There will also be regular educational pieces available from the website and our Twitter page.

What happens if I lose my money?

Not a lot of things are certain in trading but one thing that is certain is every trade won’t be a winner. Part of what makes a good trader is being able to take some losses in order to make more gains. For the competition if you lose money on a trade you can make it back on subsequent trades or alternatively you can wait out on the current trade to see if it improves. If your Net Liquidation Value hits 0, just like in real money trading, you won’t be able to trade anything.

How do I see my position in the competition?

The leaders of the competition will be published every week. You will also receive an email once a week detailing your;

  • Return on investment
  • Overall Profit/Loss
  • Current position in competition
How do I close a trade?

Closing a trade can be done in a number of ways. You can close a trade in the ‘Open Positions’ tab or in the Trade itself. There is a demo video on how to do this. Click Here to return to the educational videos to show you how.

 

I think a certain currency is going to get stronger but I’m not sure what I need to do in the markets to take advantage of this?

Take the currency pair Euro (EUR) V US Dollar (USD) for example. All currency pairs are abbreviated into their 6 letter sort-names, so in this case it would be ‘EURUSD’.

Say for instance the current president has announced that he is going to step down and be replaced by a more favoured president. You have read this headline and think that the USD is going to strengthen up on the back of this news.

You decide you want to invest €50,000 into USD for the purposes of this competition.

For this you will need to select either BUY or SELL in the EURUSD currency pair.

It is important to note that you are ALWAYS buying or selling first currency in the pair, so in this case it’s Euro in EURUSD

You will select the EURUSD currency pair and click SELL as you want to sell your EUROS and buy into USD to benefit from the move in the currency.

Are there any minimum or maximum order amounts?

There is no maximum or minimum order amount of orders. The platform allows you to trade whatever margin is available.

I’m experiencing a technical issue with the platform, where should I go for help on this?

Between 9 am and 9 pm Visit www.sharenavigator.ie and click on Live Chat…one of the Share Navigator team will assist.

Please note that if you are using College Campus Wifi, you my not be able to access the platform due to college firewalls. Int his event you should use another wifi provider or your cellular network.