MetaQuotes Software Corp., a Cyprus-based professional trading platforms developer, has launched the fifth annual Forex Trading Robots (Expert Advisors) competition.

The event will see specially written robotic computer programs face off against each other by analyzing the prices of various financial instruments and trading these in real time. To make it as realistic as possible, the virtual market will be subject to the same ups and downs of a real-world Forex market. The ultimate goal is simple: As in real business situations, the robot (program) that makes the most profit wins.

The competition, which was declared open Monday, will conclude Dec. 23, and the developers of the three most profitable programs will share the $80,000 prize money. The stage is set for some fierce Wall Street-style battles, with as many as 400 developers (and their programs) throwing their hats in the ring.

The championship is the only large-scale storage of information about the behavior of trading robots in market conditions. This huge amount of information will help analyze trading strategies from different points of view and determine the reasons for financial successes or failures, said Renat Fatkhullin, CEO of MetaQuotes Software Corp. said.

On a more material level, the competition has also been designed to promote MetaQuotes' latest trading platform, the MetaTrader 5.

If you're at all interested in seeing which program makes the most money (and who knows... you may pick up a tip or two yourself), log on to www.championship.mql5.com - a purpose-designed Web site where detailed and real-time financial statements of all competitors will be published. In addition, the site will feature research studies, reports and interviews with famous developers.

The Web site of the Automated Trading Championship provides a lot of unique information, which cannot be found anywhere else, Fatkhullin adds.

In addition to MetaQuotes, the competition is also sponsored by MIG Bank, Go Markets, Vantage FX and Forex-TSD.