CNBC Asia Launches Australia and New Zealand Currency Challenge

CNBC Asia, is giving budding traders the chance to show off their skills and win an Alfa Romeo 159 Ti by taking part in the CNBC Currency Challenge, a virtual trading competition.

People can register at http://cnbc.com.au . Each registered participant can open 5 fictional trading accounts (portfolios) with 1,000,000 virtual dollars known as  “CNBC Bucks” per portfolio and have the ability to fictionally buy and sell foreign currencies and certain currency pairs.

CNBC’s Currency Challenge is sponsored by Forex Capital Markets (FXCM), one of the foremost currency trading firms, and partnered by Alfa Romeo.  The aim of the game, starting 6 October 2009 and running to 19 December 2009, is to build up your portfolio. The finalist with the highest total value at the end of the Finals will be declared the potential Grand Prize Winner.

“The CNBC Currency Challenge comes two years after the launch of our Australian programme, Trading Matters, which provides Australian investors with real time, actionable information on local share and market performance,” said Matt Christie, Regional Manager, Australia and New Zealand, CNBC Asia Pacific.

“What better time to kick off this contest that gives budding traders the chance to test their skill and knowledge in a simulated, but highly competitive environment where they stand a chance to win an Alfa Romeo 159 Ti,” he added.

In the initial 10-week phase, a weekly FXCM prize valued at A$1,000 will be awarded to the trader with the highest percentage of weekly growth. Weekly winners (10) will automatically qualify to compete in the contest Finals.

Also, after the initial 10-week phase, the top 10 participants with the highest portfolio valuations will join the 10 weekly winners to compete in a nerve-wracking one-week final starting on the 14th of December 2009, with the ultimate winner driving away with the Alfa Romeo 159 Ti.

Each day during the contest, CNBC’s Australian anchor, Oriel Morrison, will highlight the top performers of the day and week during the “Currency Challenge Update” segment on CNBC’s Trading Matters programme.

Tune into CNBC Trading Matters at 4:00pm AEDT Monday-Friday for your Currency Challenge Update where we track the top contest performers.