A foreign exchange broker, FXTM pitched female and male traders against themselves in its inaugural Battle Royale competition in Nigeria to test their skills and answer the question of who makes a better trader between the genders.
This was revealed in a statement made available to our correspondent on Monday. The competitors, who were in female and-male groups are to battle for a $2,000 prize in a contest that will take place in November.
For the competition, two teams made up of four men and women, representing diverse regions of Nigeria engaged in a spirited competition. Each participant received $2,500 in their personal FXTM live trading account, with four weeks to demonstrate their trading prowess with real-time coaching by FXTM trainers fostering insightful debates on trading strategies, empowering clients to identify and address their strengths and weaknesses.
According to the statement, the event not only provided valuable learning experiences but encouraged participants to recognise and address their trading weaknesses.
FXTM-trained expert, Matthew Anthony, speaking on the contest said, “It was key to recognise one’s strengths and weaknesses; to keep a trading journal, learn from mistakes, and read daily articles on our website.”
At the end of the competition, Ayokunle Faniku, emerged the most profitable trader. He credited his success to rule adherence, fundamental understanding, technical analysis, and risk management.
A member of the female team, Victoria Onyekaonu, speaking on her experience said, “It has helped me to realize that when we make mistakes, we can go back and look at our mistakes to know how to move forward.”
FXTM said that the contest showed its commitment to enhancing trading knowledge in Nigeria’s ever-evolving financial landscape.
“As the Nigerian economy continues to grow, the finance sector has witnessed significant changes, with the Nigerian Naira remaining a focal point for investors. FXTM remains dedicated to providing insights for navigating Nigeria’s dynamic financial ecosystem effectively,” the statement said.