EBENE, MAURITIUS--(Marketwire - Dec. 3, 2012) - Australia-based Ms. Baljeet Kaur Pannu ('Bal Pannu') became the world's top-performing retail FX Trader in October in terms of percentage return on initial investment, according to leading global Forex broker FXPRIMUS.
Ms. Pannu earned a 4,186.00% return on investment in 30 days, exceeding the returns of 2,523 traders in 26 countries who participated in a worldwide online trading contest run by the FX brokerage during October.
"I started trading with FXPRIMUS in 2011 and since then I haven't looked back," said Bal Pannu. "My advice for successful trading? I would say the keys to success in Forex are patience, money management, and a trading plan - once you know the strategy that works, stick to it and follow the rules!" she said.
From an average deposit of $2,114.55, the top 20 traders in the firm's contest achieved average returns of 506.7%.
Said Mario Sant Singh, Director of Trading and Education at FXPRIMUS, Singh - whose views are widely sought after in the Forex industry, "Such a result is possible - although not typical - in trading the Forex Market, where you can go Long or Short at any time. This gives the trader maximum flexibility to ride an ongoing trend or to cut losses fast and take advantage of a change in market direction."
"In contrast to other financial markets, volatility is a Forex trader's best friend," continued Mario. "Because it allows traders to capitalise on sudden movements and make quick gains. And the Forex Market has seen tremendous volatility in the last one month," he added. "Due to the ongoing sovereign debt crisis in Europe, the China slowdown and the upcoming fiscal cliff in the U.S."
"However, the benchmark for a trader is to be consistently profitable. If a trader makes a 6% return on capital every month, that's a 100% return in a year with compound interest - which is definitely realistic and achievable," he clarified.
"We enjoyed record worldwide participation for our Top Trader promotion during October," said Terry Thompson, President of FXPRIMUS. "Which demonstrates how trading contests can show traders what can be done," he said. "It allowed clients to showcase their trading skills, as well as giving them an opportunity to compete against other top traders for valuable cash, and prizes of USD15,000."
With a daily trading volume in excess of USD4 trillion, the Forex market is the largest financial market in the world, according to the authoritative Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity published by the Bank for International Settlements (BIS).
Thirty-seven percent of total turnover in Forex worldwide are spot transactions - which are mostly traded by retail traders, who are everyday people like FXPRIMUS' clients. And half of the USD1 trillion growth in Forex trading in the last period surveyed for BIS - from 2007-2010 - was in spot transactions, testifying to the spectacular popular growth of retail Forex trading worldwide in recent years.
FXPRIMUS offers retail traders a level of trade execution, service quality and fund safety that are normally reserved only for the largest investors. Serving traders in 205 countries across 6 continents FXPRIMUS combines an unmatched level of fund safety with regular independent audits of company financials and Straight Through Processing, top notch execution with tight spreads, prompt and responsive customer support, ISO 27001 certification in Information Security and an industry-leading trader toolset that includes free access to powerful trader tools and personal coaching via FXPRIMUS Coach FXPRIMUS truly is The Safest Place To Trade.