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Without having to trade, you can profit from the NFP release just by estimating the price movement during the event. Here's everything you need to know about the Tickmill's NFP Machine.
Analytical skill is one of the most important skills that traders need to have in order to become an expert in the highly unpredictable and competitive field of forex trading. This set of skills includes being able to analyze the market quickly, recognize market trends, and use the gained information to make smart trading decisions. Aside from formal education, analytical skills can also be obtained from experience. Market conditions are never the same, so it's vital to know how to control your trade in any situation.
Aside from trading, analytical skills can be useful in other activities as well. For instance, some brokers offer exciting contests that are aimed to test traders' skills in a non-trading environment. This can be a great opportunity to put your skills to use and earn various prizes for your trade. In this article, we will be focusing on Tickmill's special contest called "NFP Machine". But first, let's learn a little bit about NFP and its importance in forex trading.
NFP and its Relation to Forex Trading
Non-Farm Payroll (NFP) is a key indicator in the US economy. It is essentially a report that contains the number of jobs added in all US industries except farms, governments, private households, and non-profit organizations. The report is released monthly, normally on the first Friday of each month at 08:30 ET by the Bureau of Labor Statistics.
The NFP data is important in forex trading because it reflects the current state of the US economy. Low job numbers show that the economy is currently running low. When this happens, there is a high chance that the Federal Reserve would loosen their monetary policy, which is aimed to raise employment and increase economic output. This will result in lower interest rates and lower demand for the Dollar, hence affecting the currency market quite significantly.
It is also important to know that NFP releases are usually accompanied by a sudden increase in volatility and widening spreads. If not careful, traders can easily get stopped out due to the extreme market condition. This is why traders must be cautious of big economic releases like NFP reports.
Tickmill's NFP Machine, Predict the Price to Win Cash Prizes
Seeing the importance of NFP reports, the leading broker Tickmill decided to make a special campaign called "NFP Machine" to put traders' analytical skills into use. This campaign was first introduced on May 30, 2016, to this date. As of September 2019, the campaign takes place on the Woobox trading platform and the specifics are announced on the broker's official Facebook page on the first week of each month. This campaign is available to all Tickmill live account holders worldwide.
Tickmill is an award-winning global ECN broker, authorized and regulated by the Financial Conduct Authority (FCA) in the UK, CySEC in Cyprus, and the FSA of Seychelles. Founded in 2014, it offers its retail and institutional clients various trading services with a prime focus on forex, stock, commodities, CFDs, and metals.
For traders who prioritize the value of spreads in broker selection, Tickmill provides excellent services with low spreads, starting from 0.0 pips.
The London-based company has a mission to provide clients with the best possible trading environment, so clients can focus on trading and become successful traders. One way to reach its mission is to offer a fast-execution of 0.15s. With this facility, it's no wonder that Tickmill gets the 2019 Best Forex Execution Broker award by the CFI.co Awards. Also, Tickmill received the achievement as Best CFD Broker Asia 2019 by International Business Magazine, the Best Forex Broker Asia, and the Most Transparent Broker 2019 by Forex Awards.
After registering in Tickmill, traders can choose the most ideal asset among 60 currency pairs that they can trade. If traders aren't sure yet to open a real account, Tickmill recommends learning to trade through a demo account.
There are also educational features such as Webinars, Seminars, Ebooks, and Video Tutorials. All of these facilities can be used by traders to increase knowledge about trading and the financial market as a whole. If traders already have enough knowledge, they have a greater opportunity for earning profit consistently.
For traders registered in real accounts, they can choose between provides three types of accounts, including Pro Account, Classic Account, and VIP Account. Traders can open positions with a minimum order of 0.01 Lots. This applies to all types of accounts.
The company provides recommendations for traders who are still confused when choosing an account. For example, for novice traders, Tickmill encourages clients to choose a Classic Account. It offers optimal conditions with fast order execution while enabling traders to use virtually any trading strategy. Additionally, the account is trade commission-free so traders only pay the bid/ask spread. Other than the 3 main accounts above, Tickmill also provides an Islamic account (swap-free).
The downside is, trading with Tickmill will only enable traders to use MetaTrader 4 as their offered trading platform. Although not much if compared to other brokers, the Tickmill platform provides a user-friendly and highly customizable interface, accompanied by sophisticated order management tools to help traders control positions quickly and efficiently.
The convenience of trading on Tickmill is enhanced by the existence of One-Click EA integrated on MT4. Traders will get Stop Loss and Take Profit calculations automatically. On top of that, Tickmill provides a VPS hosting for automated traders that can't be bothered with technical problems such as troublesome internet connection.
They offer several third-party research solutions, including Autochartist, which is a popular pattern-recognition software that uses automated technical analysis to make forecasts and generate trading signals. Autochartist is available both in Tickmill's web portal and as a platform plugin for MetaTrader 4.
As a Tickmill client, a trader can deposit and withdraw with a variety of payment methods, including Visa, Mastercard, bank transfer, and Skrill. Tickmill accepts deposits and withdrawals in 4 currencies, which include USD, EUR, GBP, and PLN.
Overall, Tickmill is a competitive broker in spreads and provides a safe trading environment with its regulated entities in three different jurisdictions. Although their trading platform is not outstanding, the analytical tools they present to equip traders' needs are considered by retail broker standards.
Basically, NFP Machine is a "prize prediction" contest, in which participants must guess the price of a specific instrument on a specific date and time. The rules are fairly simple. During the NFP release week, Tickmill will set a certain financial instrument for the forex contest and challenge traders to speculate the price on the MT4 trading platform exactly 30 minutes after the NFP release.
Traders who can guess the exact number of the price will get a $500 cash prize sent to their trading account. However, if no one guesses right, the trader with the closest prediction will receive a $200 prize.
Where to Find the Information on the Official Broker Site?
- This information is reported per Mar 1 2023.
- We can not ensure if this offering is still available or remain the same in future.
- The broker announcement page may or may not exist anymore, You may explore Tickmill homepage and try to find "Promotion" section on the menu, footer, etc, to ensure the availability and validity of this promotion.
How to Participate in Tickmill's NFP Machine
- Create a Tickmill live account (if you haven't already) and become a Tickmill user to participate in the contest.
- During the NFP release week, go to the Woobox platform to join the contest.
- Enter your prediction along with your full name and Tickmill live account number.
- If you win, you will be contacted via email that you used to register with the company. The prize will also be credited to your account wallet immediately.
It's worth mentioning that traders can start submitting their predictions on the Woobox trading platform from Monday at 00:00 until Friday at 15:00 server time on the NFP week. The winner will be announced by the broker about an hour after the NFP release, and the name will be featured on the wall of fame on the broker's website.
See Also:
Is The Bonus Withdrawable?
The prize of Tickmill's NFP Machine is withdrawable. You can use it for trading purposes or withdraw it as cash. If you want to withdraw the money, you'll need to trade at least 1 standard lot for each $5 of the cash prize. Assuming you get a $500 cash bonus, then you'll need to trade at least 100 standard lots to withdraw. Also, note that you can only receive the price on your own wallet and you are not allowed to transfer the prize to another trading wallet.
End Thoughts
Tickmill's NFP Machine campaign is one of the broker's features that present a great opportunity to make use of your analytical skills and earn additional income aside from your trading activities. All you need to do is submit your prediction during NFP release week and get the chance to win some cash. You don't have to open any trades or put any money at stake here. If you won, you can then use the money to either fund your trade or withdraw it to your bank account. Your name will also be featured on Tickmill's wall of fame after the winners have been announced.
Tickmill is the brand name of Tickmill Ltd. which offers trading services with premium products and innovative technology. Superior trading conditions, ultra-fast execution, safety of client funds, and dedicated support are at the forefront of their offering.
41 Comments
Harry
Mar 8 2023
Does this contest charge a participation fee?
Leandro
Jun 13 2023
@Harry: No, the contest "Estimate Price During NFP to Get USD500 Bonus" from Tickmill does not charge a participation fee. It is a promotional contest offered by Tickmill where traders have the opportunity to win a bonus of USD500 by accurately estimating the price movement during the Non-Farm Payrolls (NFP) release. Participants can submit their predictions without any cost or fee.
The purpose of such contests is to engage traders and provide an interactive experience while offering potential rewards. It's important to carefully review the terms and conditions of the contest to ensure you understand the rules and eligibility criteria. By participating in these contests, traders can test their skills, showcase their market analysis abilities, and potentially win bonuses or prizes without having to pay an entry fee.
Sammy
Mar 11 2023
Tickmill's NFP contest is a great idea, even though winning the grand prize may be challenging. However, I think it's still possible to win the second closest prize of $200. Overall, I believe the contest is fair. However, I'm struggling to understand the NFP reports themselves. I know that NFP stands for Non-Farm Payrolls, which includes all industry jobs and is a crucial economic indicator that affects the Federal Reserve (FED). But, I'm having trouble understanding why the FED would loosen its policy if the NFP report shows a low number of jobs. It seems to me that this would lead to a decrease in the value of the US currency, which is confusing.
Winz
Mar 11 2023
Bro, I will explain about the NFP. So, when the NFP report shows a low number of jobs, it indicates that the job market is weak, which can negatively impact the economy. In response, the FED may decide to lower interest rates, which can make borrowing cheaper for businesses and individuals. This, in turn, can stimulate spending and investment, which can help to boost the economy and create more jobs in the long term.
However, lowering interest rates can also lead to a decrease in the value of the US currency, as investors may seek higher returns elsewhere. This can make imported goods more expensive and increase inflation, which is why the FED must carefully consider the trade-offs when making policy decisions based on the NFP report. That's why in the article, the author said about Federal Reserve would loosen their monetary policy, which is aimed to raise employment and increase economic output. This will result in lower interest rates and lower demand for the Dollar. If you still confused about the connection between interest rate and forex market, you can read in this article : Relationship between Benchmark Interest Rate and Forex Market
Enzo
Mar 11 2023
Hey, I found the article interesting, and I enjoyed reading your comment. After reading about the benchmark interest rate and its relationship with the Forex market, I understand a little bit more about the Non-Farm Payrolls (NFP) report and feel like I can participate in the contest. If the NFP report shows good signs, such as an increase in jobs, everything is good. The Federal Reserve (the Fed) may raise its benchmark interest rate to prevent deflation and create a balance between supply and demand in the market. As a result, investors seek out the high rate, which is profitable, and keep their money in USD. This increases the demand for USD, and all forex markets with USD will move accordingly. In a direct pair such as EUR/USD or EUR against USD, the market will drop because EUR loses against the USD. However, in an indirect pair such as USD/JPY or USD against JPY, the market will rise because USD wins against JPY. Although it's easy to predict the market movements in general, it's nearly impossible to know the exact level.
Kenny
Mar 11 2023
This contest is new to me, but I think it's a fair way to earn bonuses since there's no need to use any real money to participate. Essentially, all you have to do is guess the level of an asset's price during the NFP report. If you're correct, you'll receive $500 to trade for free, and if you're slightly off, you'll still receive $200. To me, it's simply a bonus since you don't have to make any trades. The only requirement to participate in the contest is to sign up for a live account. However, I'm curious if we need to make a deposit in Tickmill to get the live account.
Nana
Mar 11 2023
Unfortunately, a deposit is required to open a live account with Tickmill. According to the information on the company's website, opening a live account involves making a minimum deposit, which varies depending on the type of account you . Tickmill offers several types of accounts, including Classic, ECN Pro, and VIP. If you're just starting out in Forex trading, the Classic account is recommended as it provides a more user-friendly trading environment. The deposit amount required for all accounts is $100. In short, you need to make a payment to participate in this contest.
Samuel
Mar 13 2023
Finally, a fair competition that doesn't require money to participate. I'm just wondering though, what happens if multiple traders manage to predict the closest price? Will they all get the $200?
Kokhon tamil
Apr 15 2023
@Samuel:In a fair competition, tiebreakers are usually used to determine the winner in the event of multiple participants predicting the same or closest price.
The exact tiebreaker rules may vary depending on the competition's rules and organizers, but some common tiebreaker criteria include:
The time of submission: The participant who submitted their prediction first is declared the winner.
The number of digits: The participant whose prediction has more digits after the decimal point or the most precise prediction is declared the winner.
Random draw: The winner is chosen randomly among the participants who predicted the closest price.
It's always a good idea to check the competition's rules and guidelines for information on how tiebreakers will be handled, to avoid any confusion or disappointment.
Grace
Mar 13 2023
Finally, a fair competition that doesn't require money to participate. I'm just wondering though, what happens if multiple traders manage to predict the closest price? Will they all get $200 each and still get their names featured on the Wall of Fame? I guess that would be the best solution for us traders, but I'm not sure how far the broker is willing to spend money simply for contest rewards like this.
Robin
Mar 14 2023
Hi there. Unfortunately that's not the case here. According to the broker's website, in case there are several participants with the same closest prediction number, the $200 prize will be divided equally and credited to their trading wallets. If you take a look at the Wall of Fame, you'll see that some winners that only get $100 or less because of this reason. And to answer your last question, yes all of their names are featured on the Wall of Fame, so there may be multiple winners in one period. If you are interested in other types of bonus programs that don't require money to participate, you might want to check out referral programs. Here's my recommendation: How to Earn More from easyMarkets Bonus Programs
Grace
Mar 16 2023
Ah, I guess that makes sense for the broker to divide the prize. I've also checked the Wall of Fame and you're right, some of them got less than $200 because there are multiple winners. I didn't realize that at first.
Something fascinates me though. I noticed that in 2022, not a single participant won the grand prize of $500. I thought the concept of this competition was pretty simple, but apparently it's not that easy to predict the exact number. Now I really want to join the event and try it out myself.
Lulu
Mar 13 2023
Hi, I'm a new Tickmill user but I just heard about this NFP contest from your article. Is there a way to be notified for this event? I'm aware that it's held a few days before the monthly NFP announcement, but my fulltime job can be very demanding at times, so I don't really check the economic calendar that often and I might miss the NFP release week. Thanks in advance.
Danny
Mar 14 2023
As long as I know, the campaign is usually held in the first week of each month because the NFP report itself is announced on the first Friday of each month. So, you can just mark your regular calendar for this event and put a reminder to check the broker's website. I personally like to visit the website at least once a week to stay updated to the news. Don't worry though, it won't take long. You can find everything you need on the News section, like Tickmill's latest news, forex events, seminars, market alerts, new product offerings, trading schedule updates, and many more. To find the announcement to the NFP contest, simply click "Promotions & Contests".
Jackson
Mar 16 2023
If I have won the contest once, am I allowed to participate again?
Sandy
Jun 7 2023
@Jackson: If you've already won the contest once, you might be wondering if you can jump back in and try your luck again to snatch that $500 prize in the NFP competition, right? Well, based on the fact that the NFP competition is an open competition, I think you have a good chance of being able to participate again. But just to be sure, it's always a good idea to check out the contest's specific rules and guidelines. They'll spell out whether previous winners are allowed to throw their hats in the ring for another shot at the prize. So, take a moment to dig into those contest terms and conditions or shoot a message to the organizers for some straight-up clarification on whether you're eligible to jump back into the NFP competition. Good luck, my friend!
Leon
Mar 17 2023
Hey dude! Why is the farm sector excluded from the Non-Farm Payroll (NFP) report? It's interesting to note that the NFP, which is a crucial economic indicator in the US, encompasses job data from various industries except farms. Could you explain the reasoning behind excluding the farm sector from this report? Is there a specific rationale behind this exclusion? Additionally, since the NFP data is considered important in forex trading, how does the absence of farm sector employment figures impact the overall interpretation of the US economy's current state? Are there other reports or indicators that provide insights into the performance of the farm sector and its influence on the currency market?
Akanji
Jun 26 2023
@Leon: Hey there! It's a great question! The reason why the farm sector is excluded from the Non-Farm Payroll (NFP) report is because of the unique nature of agricultural employment and its impact on data interpretation. The NFP report primarily focuses on non-farm industries, as they tend to provide a more accurate representation of the overall health of the US economy. The farm sector is subject to seasonality, meaning that employment levels fluctuate significantly based on factors like planting and harvesting seasons, weather conditions, and agricultural cycles. These variations can distort the data and make it challenging to gauge the true underlying employment trends across the broader economy.
Wilson
Mar 23 2023
Is there a way to be notified of the contest? I don't check the economic calendar that often, so I might miss the NFP release week.
Moheshin Khan
Apr 15 2023
@Wilson:Yes, you can set up notifications to be alerted of the contest or the NFP release week.
Here are some ways to stay informed:
Subscribe to the contest's email list: Most contests and promotions have an email list that you can subscribe to. You'll receive emails with contest details, updates, and reminders.
Follow the contest's social media pages: Many contests and promotions have social media pages where they post updates and reminders. Follow them to stay in the loop.
Set a reminder on your calendar: You can set a reminder on your phone or computer to notify you of the contest or NFP release week.
Check the broker's website regularly: Keep an eye on the broker's website for news and updates about the contest or NFP release week.
By staying informed and setting up notifications, you can ensure that you don't miss out on any upcoming contests or events.
Gregorry
Mar 29 2023
Can I participate with multiple accounts at the same time?
Alexander Wendell
Apr 16 2023
@Gregorry: Participating in the NFP contest with multiple accounts at the same time in Tickmill is prohibited and could result in disqualification from the contest due to violation of the contest rules. It is essential to follow the broker's regulations to ensure fair competition. However, Tickmill permits participants to join the NFP contest every month, even if they have won previously. Before participating in the contest, carefully read the terms and conditions to avoid any problems. Best of luck with your future contest participation!
Lucky Su
Apr 16 2023
The prize and how to get the NFP USD 500 from Tickmill is easy to participate. But the real question is whether anyone can win the NFP USD 500 Bonus offered by Tickmill. I believe the second winner has a better chance of winning more often because they only need to predict the closest price, while the first winner needs to predict the exact price. It takes a stroke of luck to predict the exact price, while a close prediction requires solid analysis. Overall, winning the main prize seems impossible because it requires both luck and analysis.
Dion
May 12 2023
Hey there! I think I need to forget about the bonuses and focus on NFP. So, after reading about the connection between the NFP and forex trading, it seems that the NFP can be pretty significant to trading due to the volatility it can cause. But, I have a few questions. First of all, what exactly is the NFP? Why does the US release this data, and why does it focus on non-farm sectors? And, how do these sectors other than farming play a role in the forex market?
I'm curious because I've heard traders talking about the NFP like it's a big deal, and I want to understand why. Is it just because of the potential for volatility, or is there something else going on that makes this data important for forex traders to pay attention to? And, why does the US government focus on non-farm sectors specifically when releasing this data? Does it have to do with the impact that these sectors have on the overall economy, or is there some other reason for this focus?
Hans
May 13 2023
Sure thing, dude! NFP stands for "Nonfarm Payrolls," and it's a major economic indicator released by the US government. Basically, it tells us how many jobs were added or lost in the US (excluding the agricultural sector) over the previous month.
Now, why is this data so important for forex trading? Well, as you mentioned, it can be pretty volatile. The forex market is all about anticipating economic news and events, and when the NFP report comes out, traders around the world are eagerly watching to see how the markets will react.
But it's not just the number of jobs added or lost that matters. The NFP report also gives us insight into the overall health of the US economy, which can have ripple effects throughout the global economy. And since the forex market is all about trading currencies from different countries, any major economic news from one country can affect the value of its currency in relation to others.
So even though the NFP report specifically looks at the nonfarm sector, it's still an important indicator for forex traders because of its impact on the US economy as a whole and the global financial markets.
Memphis
May 12 2023
Hey there! So I was reading about Tickmill's NFP prediction program and I'm curious - is it actually possible to use the NFP release to predict market price levels? I mean, it seems like a lot of traders are trying to find ways to combine NFP with other indicators to get better results and win the rewards or bonuses offered by Tickmill.
So, what are some of the indicators that traders use to analyze the NFP release? And how effective are these methods? I know that the NFP release can cause a lot of volatility in the markets, but is there a way to use this to our advantage and make profitable trades?.
Roger
May 13 2023
Well, predicting the market is never a surefire thing, and trying to do so using just one indicator - like the NFP - is a risky game. While the NFP can definitely impact the market, it's just one piece of the puzzle. You'll need to consider other factors like technical analysis, market sentiment, and even news events to get a fuller picture.
As for the Tickmill NFP program, it's designed to reward traders who successfully predict the market direction based on the NFP release. To increase your chances of winning, it's important to have a solid trading strategy in place that incorporates multiple indicators and analysis methods, not just relying on the NFP alone.
One example of an indicator that traders often use in conjunction with the NFP release is the Average True Range (ATR) indicator. The ATR can help traders identify potential price volatility, which can be particularly useful during times when the NFP release is expected to cause market turbulence. However, to predict the exact level, I think it is hard to predict as well
Edward
May 14 2023
Hey, I was reading about Tickmill's NFP prediction program and I was wondering if anyone has actually won it before. I mean, predicting the exact level of NFP can be really tough, right? But it would be cool to know if someone has actually gotten it right and won the prize. Also, do you know if Tickmill shares any testimonies or stories from previous winners on their website? I'd love to see if there are any tips or tricks that could help me improve my own NFP predictions.
Raiko
May 27 2023
@Edward: Hey there! It's great that you're interested in Tickmill's NFP prediction program. Predicting the exact level of NFP can indeed be quite challenging, considering the various factors involved. As for your question, I'm not aware of any specific information regarding previous winners of the program. However, it's always exciting to hear about traders who have successfully predicted the NFP and won the prize.
In terms of testimonies or stories from previous winners, it's worth exploring Tickmill's website. They may share success stories or testimonials from participants who have achieved accurate NFP predictions in the past. These stories could provide valuable insights, tips, or tricks that can help you enhance your own NFP prediction skills. Checking out any available resources on their website, such as blog posts, news articles, or educational materials, might also provide you with valuable information and strategies related to NFP predictions.
Justin
May 19 2023
Hey there! Have you ever wondered how we can determine when the Non-Farm Payrolls (NFP) announcement will take place? It's quite fascinating! By the way, I came across this article about Tickmill's program that allows traders to predict the NFP price, and I found it really interesting. It adds an exciting element to trading, doesn't it? Speaking of which, participating in the NFP price level competition requires some prediction skills and preparation. Do you know what precautions traders should take in order to participate successfully? And I'm curious, does Tickmill provide any specific tools or resources to help traders make accurate predictions for the NFP report? Lastly, I'm also interested in any restrictions or requirements for joining Tickmill's NFP price level competition. It's always important to ensure fairness and transparency, so how does Tickmill handle these aspects in the competition? Let's dive deeper into this fascinating topic
Herald
May 20 2023
@Justin: Absolutely! Participating in the NFP price level competition requires some careful consideration and preparation. Traders should take precautions like staying updated with market news, analyzing historical data, and understanding the factors that influence the NFP report. It's all about honing those prediction skills and being ready to take calculated risks.
Now, when it comes to Tickmill, they sure know how to support their traders. They provide a range of tools and resources to help with NFP predictions. They might offer proprietary indicators, research materials, or educational resources to give traders that extra edge. It's like having your own secret sauce for making accurate NFP forecasts!
In terms of restrictions and requirements, Tickmill ensures fairness and transparency in their competition. They have specific rules and guidelines in place to level the playing field and give everyone an equal shot. It's all about maintaining a fair and competitive environment where traders can showcase their skills.
Irfan
Jun 26 2023
When participating in Tickmill's NFP Machine promotion and receiving a cash prize, I'm curious to know how many trades I can make or how much trading volume I need to reach in order to withdraw the bonus amount. Could you clarify the specific requirements for bonus withdrawal mentioned in the terms? For instance, if I receive a $500 cash bonus, how many standard lots do I need to trade to meet the withdrawal criteria? Is it correct to understand that for every $5 of the cash prize, I am required to trade at least 1 standard lot? It would also be helpful to know if there are any restrictions on transferring the prize to another trading wallet and whether the prize can only be received in my own wallet. Understanding these details will enable me to plan my trading activities accordingly and determine the feasibility of meeting the withdrawal conditions set by Tickmill
Harvey
Oct 27 2023
@Irfan: Tickmill's NFP Machine promotion typically has specific terms and conditions for bonus withdrawal. While the exact criteria may vary, a common requirement is to trade a certain amount of standard lots to meet the withdrawal conditions. It's important to check the promotion's terms and conditions on Tickmill's official website for precise details regarding the trading volume needed to withdraw a specific bonus amount. And also you can contact the customer support there.
Regarding transferring the prize to another trading wallet, promotions like NFP Machine often specify that the cash prize is credited to the trading account used to participate in the promotion and cannot be transferred to other accounts. It's important to review the terms of each promotion to understand any limitations or restrictions in place.
Hope it can help!
Bruno
Oct 25 2023
I'm keen to understand the intricate details of how Woobox integrates with the participation process for Tickmill's NFP Machine contest. It's clear that creating a Tickmill live account and becoming a registered Tickmill user are the initial steps. However, there's a reference to the use of Woobox during the NFP release week. Could you provide a comprehensive explanation regarding the functions and steps involved with Woobox? What specific actions are participants required to take on the Woobox platform, and how does this platform facilitate their engagement with the contest during the NFP release week? And also is it Woobox also regulated from Financial Institute too like Tickmill?? Thank you!
Ian Wright
Oct 28 2023
@Bruno: As I know, in the Tickmill NFP Machine contest, Woobox is like the behind-the-scenes tool that helps organize the fun stuff. First, you've got to create a Tickmill live account and get registered as a Tickmill user to kick things off. That's where you do your trading.
Now, Woobox comes into play during the NFP release week. It's not a financial institute or regulated like Tickmill; it's more of a platform that manages online contests and promotions. It helps you participate in the contest and engage with it.
You might need to do certain things on Woobox, like sharing posts, inviting friends, or completing challenges – the fun contest stuff. Woobox keeps track of it all and helps the contest organizers pick the winners. It's kind of like the referee of the contest.
But remember, if you have questions about how Woobox is used in the NFP Machine contest, it's best to ask Tickmill directly. They can give you the lowdown on how everything works and whether Woobox is involved in the specific contest you're interested in. Happy trading!
Bellison
Nov 16 2023
Alright, let's dive into the nitty-gritty. Step one: set up your own Tickmill live account (unless you've already checked that box) to get in on the contest action. Now, here's the scoop - what exactly are the conditions and terms you need to meet to officially become a Tickmill user? I'm curious.
And speaking of Tickmill, what's on the menu in terms of account types? I've got my eyes on that. Now, since I'm a bit of a beginner in this trading game, any recommendations on which account type would be the friendliest for someone just starting out? Your insights would be gold! Thanks a bunch!
Andri
Nov 21 2023
How do you become a Tickmill user? It's a breeze, my friend—just sign up. Start by creating a demo account, where you register your email and set up a password. Once that's sorted, it's time to open a live account. Be ready to provide some documents for the KYC process. After that, take your pick from the three account options Tickmill offers. You can find the details in this article: Which Tickmill Account Type is Right for You?
Now, when it comes to Tickmill's accounts, I highly suggest going for the Classic account over the VIP and Pro Account. Why? Well, first off, the minimum deposit is only $100. Plus, as a beginner, the Classic account is commission-free, which is fantastic. Sure, the spread might be a tad higher, but for beginners, it's perfect for medium to long-term trading instead of the riskier business of scalping. Once you've got your account sorted, you're all set to jump into the contest!
Edward
Nov 29 2023
Participating in Tickmill's NFP USD 500 prize and understanding how to obtain it is straightforward. However, the critical question is whether anyone can successfully secure the NFP USD 500 Bonus from Tickmill. In my view, the second winner stands a higher chance of winning consistently since they only need to predict the closest price, whereas the first winner must accurately predict the exact price. Guessing the precise price relies on luck, whereas a close prediction demands a thorough analysis. Generally, winning the main prize appears challenging as it necessitates a combination of luck and analysis. By the way, what are the fundamentals of interpreting the NFP? In other words, how can one easily predict whether the price will rise or fall?
Yasin
Dec 5 2023
Hey there, in my opinion, successfully predicting whether the price will rise or fall during the NFP (Non-Farm Payrolls) release involves a combination of understanding economic indicators and market sentiment. Stay informed about key economic indicators, particularly the NFP report, and analyze historical data to identify patterns. Additionally, monitor market sentiment to gauge how traders and the market are reacting. Employ technical analysis tools, such as chart patterns and support/resistance levels, to anticipate potential price movements. Implement risk management strategies, including setting stop-loss orders, to mitigate potential losses. Stay informed about external factors, such as geopolitical events and economic policies, that may influence the market during the NFP release.
While there are no guaranteed methods for predicting market movements, continuous education, staying updated on market conditions, and practicing sound risk management are essential for informed decision-making. If uncertain, seeking advice from financial professionals or utilizing demo accounts for practice can be beneficial.
Hasan
Dec 20 2023
Could you provide more details on this? In the article, it said that if You have the option to either use it for trading or convert it into cash. To withdraw the cash, you must execute trades equivalent to at least 1 standard lot for every $5 of the cash bonus. For instance, if you receive a $500 cash bonus, you'll be required to trade a minimum of 100 standard lots to be eligible for withdrawal.
Given this information, if I were to receive the maximum bonus of $500 and aim to withdraw it by trading at least 100 standard lots, could you clarify how many trades are necessary? Additionally, is trading 1 lot considered safe for someone with beginner-level experience like myself?
Untung
Dec 22 2023
Let me explain to you! If you receive the maximum bonus of $500 and intend to withdraw it by trading at least 100 standard lots, you would need to execute a total of 500 trades (5 lots for every $1, totaling 100 lots for $500).
Regarding the safety of trading 1 lot, it's important to note that the safety of a trade depends on various factors, including your trading strategy, risk management, and market conditions. Generally, trading smaller lot sizes is considered less risky for beginners, allowing for better risk management and learning opportunities.