Jordanian Wins Forex Trading Challenge

(I-Newswire) November 2, 2009 - Varengold Bank, the award winning German investment bank, announced the winner of its 2nd FX Trading Challenge, a Jordanian, who will receive $250,000 in seed capital to trade and bank-based sales support in order to acquire additional capital for his managed accounts.

The winner of the 3 month trading challenge achieved a 114.49% risk-adjusted return. The runner up, also from Jordan, achieved an 86.71% risk adjusted return.

Of the top 50 traders, 11 (or 22% of the total) were from the Middle Eastern region – a particularly remarkable showing given that the region represents just over 6% of the world population.

“These results show the growing and sophisticated number of traders from our region,” says Ilja Perschbacher, Managing Director of Varengold Bank Dubai, “and is one of the key reasons that Varengold Bank opened its regional headquarters in Dubai to better serve our clients in the region.”

The forex Trading Challenge began on 1 August and ran through the end of October. The winner was chosen on the basis of the risk adjusted net yield (the net yield of each account divided by the average standard deviation).

Investors interested in having the winner trade an FX account for them may contact Varengold Bank Dubai directly.

Full results of the trading challenge may be found at the Varengold Bank web page www.trading-challenge.com.

About Varengold Bank:
Founded in 1995, Varengold was the first German investment bank to focus exclusively on Managed Futures, Hedge Funds and Alternative Investments. It currently enjoys an outstanding reputation among other banks, funds, and private investors. To this day it remains the only German investment bank to specialize in Managed Futures and Hedge Funds for mid sized institutional and private investors.

Varengold initially developed a Capital Markets - Brokerage segment to support its own risk management, but has now expanded this segment to provide services for more than 7,000 customers worldwide who use the bank to trade Futures, Options, CFDs and Forex.

Company Contact Information
Varengold Bank
Christopher Swindell
Level 19 - Office 1919, One Sheikh Zayed Rd.
P.O Box 333840
Dubai
Phone : +971.4.70.504.70