Registration period: August 1 – 31, 2014.
Competition period: August 1 – 31, 2014.
Available to: all
To participate: register via contest page.
To win: get highest return.
- 1st – USD 2,000 Cash Prize + Free FX Educational Package
- 2nd – USD 200 + Free FX Educational Package
- 3rd – USD 50 + Free FX Educational Package
Withdrawal condition: 1st winners – trade 20 round turn lots to withdraw cash prize.
August 2014 Virtual Currency Trading Contest – Terms and Conditions
1. IronFX Global promotes the August 2014 Virtual Currency Trading Contest (“Virtual Currency Trading Contest).
2. For participating in the Virtual Currency Trading Contest you have to register for the contest providing the details requested (first & last name, telephone, email, country & nickname) and be over 18 years old. All details provided during the registration process should be correct (i.e. full name details to match the proof of identity, proof of residence to match the country of residence, etc.), otherwise the participant/winner will be disqualified from the Virtual Currency Trading Contest.
3. The Virtual Currency Trading Contest is available to new clients only but shall not be applicable to STP/ECN accounts. IronFX employees, existing Clients, and Partners are not eligible to participate in the Virtual Currency Trading Contest.
4. US residents cannot participate in the Virtual Currency Trading Contest and are not entitled to receive any award prizes.
5. Any person who has previously been nominated with an award for winning a competition is not eligible to participate in the Virtual Currency Trading Contest and will be automatically disqualified.
6. By participating in the Virtual Currency Trading Contest you acknowledge that you have read and agreed to be bound by these terms and conditions as well as to the IronFX Terms and Conditions.
7. Upon completing the Virtual Currency Trading Contest registration form, IronFX demo platform will be sent to your registered email address with your unique credentials. The demo account will be held in USD and each participant will obtain USD 100,000 virtual money to be used for the contest. Each participant in the Virtual Currency Trading Contest will have to register only one time.
8. A participant can be disqualified from the Virtual Currency Trading Contest in case he/she meets any of the following factors:
a. A participant used fake details during the registration in the Virtual Currency Trading Contest.
b. A participant has more than one Virtual Currency Trading Contest account;
c. Two or more participants are using the same IP address;
d. A participant is using an additional plug-in or expert advisor on his demo account that will be used in the Virtual Currency Trading Contest;
e. In case a person uses dynamic IP address, in which the IP address changes instantly during the time the client is connected to the internet, then he will be exposed to be disqualified from the Virtual Currency Trading Contest, even though he is entitled to a Prize.
9. Details of the registration and completion dates can be found below:
DETAILS Start from: End on:
Registration and Competition Dates
01 August 2014
31 August 2014
a. IronFX will accept only the participants that have registered for a Virtual Currency Trading Contest Account during the above mentioned dates, both inclusive.
b. At the end of the Virtual Currency Trading Contest, IronFX will automatically close any running/open trades at the last quoted price of the IronFX’s MT4 trading platform.
10. The Virtual Currency Trading Contest winners will be determined as per below factor(s):
a. Percentage in Profit; 1st priority
Percentage of Profit = (Total Net Profit / Initial Deposit) x 100
b. Percentage of Relative Breakdown; 2nd priority
Percentage of Relative Breakdown = the difference between highest (H1) and the lowest (L1) peak of the day as a percentage = [(H1-L1)/H1] x 100
c. Profit Factor; 3rd Priority
Profit Factor = Gross Profit / Gross Loss
– At the end of the contest period IronFX will look at the percentage in profit, which will determine the winner.
– In case 2 persons have the same percentage in profit, then IronFX will look at the percentage of relative breakdown to identify the winner.
– If percentage in profit & percentage of relative breakdown is the same, then IronFX will look at the profit factor to identify the winner;
– If all above mentioned factors are the same for clients, then the said clients will have to share the given award prize.
Note: all above details can be obtained by going under “Account History” tab, right click and then you select “Save as Detailed Report”.
11. Virtual Currency Trading Contest Structure and Award Prizes are set as below:
USD 2,000 Cash Prize * +
Free FX Educational Package**
USD 200 + Free FX Educational Package**
USD 50 + Free FX Educational Package**
* Note: The 1st Prize Winner will have the option to get the Trip to London OR the relevant Cash prize. In the case the winner chooses the trip to London this includes a return Air Ticket and Hotel Accommodation for 1 person. The Winner acknowledges and accepts that it is the client’s sole responsibility for obtaining any necessary entry visas as well as any type of insurance coverage and the Company bears no liability and/or responsibility for whatsoever reason. In the case the 1st Winner chooses to get the Cash Prize this will be added in the Client’s trading account. For the Client to be eligible to withdraw any balance from his trading account, the Client will have to complete 20 round turn lots following the deposit of the Cash Prize in the Client’s account. Upon completion of the required lots, the Client will be eligible to withdraw any balance available in his trading account.
** Note: In the case the 1st Winner chooses to get the Cash Prize, this will be added in the Client’s trading account. For the Client to be eligible to withdraw any balance from his trading account, the Client will have to complete 20 round turn lots following the deposit of the Cash Prize in the Client’s account. Upon completion of the required lots, the Client will be eligible to withdraw any balance available in his trading account.
12. For the award prize to be provided, the winner will have to:
a. provide the required documentation (i.e. proof of identification and address) to IronFX; the details provided during the registration in the Virtual Currency Trading Contest have to be the same with the details in the documentation provided;
b. their real account application has successfully passed IronFX’s compliance checks;
c. provide the login and password initially sent by IronFX to the contest participant when they registered for the Virtual Currency Trading Contest account by sending these details to IronFX at [email protected]; and
d. provide a detailed report of their Virtual Currency Trading Contest account when and if requested by IronFX.
13. The participant acknowledges and authorizes IronFX to announce the daily results of the Virtual Currency Trading Contest at its website, including each participant’s nickname.
14. IronFX will announce the winners within 30 days from the end of the Virtual Currency Trading Contest; venue of announcement will be IronFX’s website.
15. By winning a Virtual Currency Trading Contest prize, the winners accept that will participate in various promotional events that will be publicly announced in various venues including IronFX’s site. Promotional events includes but not limited to interviews, photos, listing announcement of their full names, nicknames, country of origin, prizes received, etc.
16. In case of refusal by the winner of not participating in promotional events then IronFX has the right to disqualify the winner and give the prize to the next place participant.
17. Winners who are awarded with prizes are not allowed to request to credit such prize to a different trading account holder but instead should be in the name of the participants.
18. For winners to be able to receive the Virtual Currency Trading Contest prize will need to meet all requirements set in these terms and conditions.
19. If IronFX suspects that a participant has abused/manipulated or attempted to abuse/manipulate this Virtual Currency Trading Contest or otherwise acted with a lack of good faith towards us, then IronFX reserves the right, at its sole discretion, to deny, withhold or withdraw from that user the award received or promotion and if necessary to cancel any terms and conditions with respect to that participant, either temporarily or permanently, or terminate that participant’s/client’s/user’s access to the service and/or block that user’s Account. IronFX reserves the right to modify, change or terminate this Virtual Currency Trading Contest at any time without the consent of the Client.
20. If IronFX suspects that a participant has abused the fair rules of the FX Trading Competition by hedging his positions internally (using other trading accounts held with IronFX) or externally (using other trading accounts held with other brokers) or has used any additional plug-ins (i.e. expert advisors) then IronFX reserves the right to immediate disqualify the participant/client from the FX Trading Competition without the consent of the Client.
21. The participant/client acknowledges that Forex and CFDs are leveraged products and involves a high level of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary.
22. The Virtual Currency Trading Contest terms and conditions are dated 21July 2014.