Software development competition offers over $50,000 in cash prizes for the best forex trading apps
NEW YORK--(BUSINESS WIRE)-- FXCM Inc. (NYSE:FXCM), a global online provider of foreign exchange (forex) trading and related services, today launched the Forex Freestyle App Challenge, a competition for software developers to create innovative applications that help the public participate in forex trading.
FXCM is challenging developers in the United States to create fully operational, robust applications using the ForexConnect API.
“The ForexConnect API offers the same functionality of the award winning FXCM Trading Station platform,” said Sameer Bhopale, chief marketing officer of FXCM. “This includes all of the available order entry types, managing your positions, downloading historical instrument rates, getting account reports, rates, and more. ForexConnect makes it possible to develop rich applications that extend the functionality of the FXCM Trading Station.”
Mr. Bhopale added, “Forex Connect is able to work in Windows, Mac, Android and iOS. This flexibility is pretty much unheard of when it comes to a full-fledged API with the capabilities and functionalities of Forex Connect.”
Developers may incorporate games, streaming news, prices and news alerts, trading tools, currency converters, educational content, or any other functionalities of interest into their apps.
Categories for the prizes include:
- Grand Prize - $25,000
- Second Prize - $10,000
- Third Prize - $8,000
- Best Game - $5,000
- Best Educational App - $5,000
- Best Mobile Trading App - $5,000
- Popular Choice - $1,000
- Large Organization Recognition Award
A panel of judges from the finance and technology industries will evaluate eligible apps and include:
Evan Milazzo - EVP of Technology - FXCM
Claudio Flores - Team Lead for Programming Services - FXCM
Matt Harris - Managing Director - Bain Capital Ventures
Howard Lindzon - Co-founder and CEO of StockTwits, Managing Partner of Social Leverage
In addition to the cash prizes, a no-cash, Large Organization Recognition Award will be given to competing organizations with fifty or more employees. The Popular Choice winner will be selected by public vote.
In conjunction with the app challenge, FXCM also launched the Forex Freestyle Ideas Challenge, a competition for the public to generate ideas for forex apps they would like to see created that would add value to their forex trading experience.. Twenty-five finalists will be selected by public voting, from which a panel of judges will select the top ten prize winners to receive $100 in cash.
The entry periods for both challenges open October 4, 2012 and close January 24, 2013. Panel and public judging take place February 13 through March 6, 2013. Winners will be announced March 12, 2013. Entrants to the app competition retain full ownership of the intellectual property of their submissions. Entrants to the ideas competition allow their ideas to be developed or used by others.
To enter, and for complete official rules and additional information regarding the Forex Freestyle
About the ForexConnect API
The ForexConnect API is a C++/.NET/Java API, that extends all the existing functionalities of the award-winning FXCM Trading Station. In addition to a high level of flexibility, it offers low-level messaging, table structures with calculated fields, the ability to request historical data.
About FXCM Inc.
FXCM Inc. (NYSE: FXCM) is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers worldwide.
At the heart of FXCM's client offering is No Dealing Desk forex trading. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution, and trading from real-time charts. FXCM's UK subsidiary, Forex Capital Markets Limited, also offers CFD products with no re-quote trading and allows clients to trade oil, gold, silver and stock indices along with forex on one platform. In addition, FXCM offers educational courses on forex trading and provides free news and market research through DailyFX.com.
Trading foreign exchange and CFDs on margin carries a high level of risk and may not be suitable for all. Read full disclaimer.
Jaclyn Klein, 646-432-2463
Vice President, Corporate Communications
Thomas Porac, 646-432-2998
Vice President, Investor Relations
Source: FXCM Inc.