Contest Rules and Prizes
Contest rules
1. "Lose2Win" - 2007 is organized by Forex Club Financial
Company.
2. Contest starts at 21:00 GMT on October 14th and ends
at 21:00 GMT on October 19th
3. Minimum age for participating is 18 years.
4. By registering for the contest, a person agrees with all
the rules and conditions of the contest. All fields in registration
form are required. A person who has failed to provide complete and
correct information in these fields may be disqualified from
receiving a prize.
5. The winner of the contest is a contest participant
who has lost all of the funds on this contest deposit first.
Second, third, fourth through twentieth places are determined in a
similar fashion.
6. If none of the contestants are able to lose the entire deposit, a contestant with the lowest deposit will be considered a winner. Second, third, fourth through twentieth places are determined in a similar fashion.
7. Trading rules
7.1. Contest participants will use a contest version of Internet Dealing System (IDSystem). It is different from the real version of IDS in that 1) it supports only two types of orders (Take Profit and Stop Loss, 2) excludes operation SWAP t/n. Maximum leverage size is 100:1. For additional requirements to transaction size, please see sections 7.4 and 7.5).
7.2. Contest version of IDS also has limitations on trading instruments.
7.2.1. Monday, October 15th - the only available instrument is EUR/USD.
7.2.2. Tuesday, October 16th - the only available instrument is USD/JPY.
7.2.3. Wednesday, October 17th - the only available instrument is GBP/USD.
7.2.4. Thursday, October 18th - the only available instrument is USD/CHF.
7.2.5. Friday, October 19th - the only available instrument is USD/CAD.
7.3. Initial deposit on each contest account is 5000 units of base currency.
7.4. Transaction size in the contest are from 1000 to 100 000 units of base currency.
7.5. Maximum size of all open positions for a given day is 100 000.
7.6. Only four trades per day are allowed. Trade is considered to be purchase and sale of currency. This means that you can open four positions and close four positions in one trading day. Transaction may be made on the market and with orders.
7.7. Attention! If an order violated restriction on the number of trades, it will not be executed and shall be cancelled.
7.8. Trades that have not been used on a current trading day are not carried over to the next day.
7.9. All open positions automatically close at 21:00 GMT
8. Prize conditions
8.1. Contest prize - a deposit to at trading account opened at Forex Club Financial Company.
8.2. First prize- $3000
8.3. Second prize - $2000
8.4. Third prize- $1000
8.5. Fourth through twentieth prizes - $100
8.6. Contest winners must submit application to open a new trading account with all required documentation within 3 days after the completion of the contest.
8.7. Contest winners may withdraw their contest prizes from their trading accounts once the account has been opened and according to standard withdrawal rules established by Forex Club Financial Company.
8.8. Contest winners agree that their contest account transaction report will be published on websites of Forex Club Financial Company, including, but not limited to www.fxclub.com
8.9. Contest winners agree to give interview to the contest organizer, which will then will be published on websites of Forex Club Financial Company, including, but not limited to www.fxclub.com
8.10. Prizes will be granted only when all of the above listed conditions are met.
9. Additional rules
9.1. The contest organizer - Forex Club Financial Company - reserves a right to change terms and conditions of the contests.
9.2. Support services of Forex Club do not extend to any of the contest accounts.
9.3. Contestants, who are found to be using more than one contest account, who have registered more than one contest account in their name and are actively trading them, who are using contest accounts registered in names of other persons, shall be disqualified. Forex Club will closely monitor the contest including, but not limited to, the analysis of IP addresses. Forex Club reserves the right to discqualify any contest accounts which are traded from identical IP addresses, provided that it has a reason to believe that these accounts have been traded by a same person.