Contrary to popular belief, you do not need to be an expert at Forex, or trading in order to be successful. In Spark Profit, you are basically doing the same thing as a trader would do, by guessing if the market goes up or goes down. You win points for guessing the correct direction, and lose points if it goes the other way.
Since you do not need any money to start, this is essentially risk-free. All money earned in the game will never be lost once you earn them. Only things you can lose are points which determines how much money you make at the end of the week.
Before you start though, you need to be at least 18 years old for this! Below are the important details about Spark Profit.
Name: Spark Profit
Owner: Nous (http://www.nous.net)
Pays through: Paypal, Skrill, Bitcoin
Available on: iOS, Android, Browser
Free to download: Yes!
How to get started
To sign up, all you need to click is the sign up tab then fill in your e-mail address (Preferably your Paypal account) and a username and you will be able to access Spark Profit immediately.
After going through the tutorial, you would need to verify your
account through e-mail and your phone number.
Do not worry, as I have not seen Spark Profit spam me with any messages through E-mail or phone so far.
How to use
The tutorial looks something like the picture below. I would recommend reading through the whole thing so you know what you are doing, and it doesn’t take more than 5-10 minutes to grasp the concept of what you need to do.
The basics you need to know are as follows:
1. Starting a game: Click on the right side of the screen beyond the vertical line. You either press above or below the blue line to guess if the market is going up or down. You need to set the take profit line (green line), and the stop loss (red line).
An example below is predicting the market will go down, thus setting my green line below and red line above. There is an initial cost of points for starting a game as well.
2. Modifying a game: Click on the right side of the screen beyond the vertical when a game is in progress. You can modify your green and red line but would be unable to switch your prediction direction.
3. Stopping a game: Click the STOP button on the bottom right hand of the screen. This will secure all your points earned, or lost during the game. The only other way a game stops if the market hits either your green or red line first.
As of writing of this post, there are 11 markets you can choose from. However, you can predict 6 markets max at a time, and will be unable to start a new prediction on another market unless you stop one of the current games first.
An important thing to note that since the real-time market only operate on weekday, all markets will close at the end of the week and only reopen on Monday mornings. Some markets such as the
Commodities (Gold, Copper, Oil) and Indices (EuroStoxx50, Nikkei225) will close for awhile during the day as well.
The only exception to this rule is BTC (Bitcoin) which operates over the weekend as well. However, any game with BTC will stop when all markets close to calculate the points, but reopens shortly for
How to earn points and money
Points are earned from playing the game. The amount of points you earn and lose is based on something called Reality. When starting out Spark Profit, you start with a Reality of 10% which means that you will only lose points at 1/10th of the normal rate.
This scales up to 100% when you hit 10,000 points where you gain and lose points at the same rate. This is to ensure users starting out won’t lose so much points when predicting wrongly.
At the end of the week, the amount of points you have will translate to cash earnings. From the picture on the right, you can see that I have 51,233 points which will earn me $3.60 at the end of the week, assuming I still have those amount of points still.
You do not ‘cash in’ points as your points retain week after week. The only thing is that there is a points decay (about 10%) at the end of the week to encourage people to play week after week. Even if you dropped to negative, you will reset to 0 points on the following week.
The requirements to earn money for the week is that you need at least 20,000 points, and play at least 1 game that week.
To Cash out, click the ‘Me’ tab, then go click the most left tab on top (Icon looks like a barrel). The minimum cash out is $30 which will include the fees when cashing out as well. The more money you cash out at a time, the smaller the fee will be.
If you noticed, I only have $16.50 at the moment, thus the button is greyed out.
Once you hit the minimum threshold, you are able to cash out to the platform you choose. You are able to change the place to cash out under ‘options’.
- Spark Profit basically follows real time market, means by keeping up with the general news, you can actually make better predictions from it. As for me, I don’t really track the news much, but do know the general happenings in the world. An example would be when the US government shutdown in 2012. From this news, you would know that the US Dollar will depreciate, thus you would know how to predict properly for better chances.
- Also, some currencies have correlation. For example, USDYEN and AUDUSD will often go in
different directions based on the news.
- If you do not want to manage it so often, you can set a bigger take profit and stop loss (green and red line) so that the game will continue until it closes at the end of the week. This way, you just need a few minutes to start the game every week then leave it running to accumulate points.
- Spark Profit also has an app on both iOS and Android, so you can go to the respective Appstores to download it and play it from your mobile phones as well.