"$5 000 Forex Trading Competition 2014"
All prospective contestants need to register for a Competition Trading Account. To join the Forex Trading Competition, fill in the PaxForex Registration form, and tick the box “I accept teams and conditions of Forex Trading Competition.
All details provided during the registration process should be correct otherwise the participant/winner will be disqualified from the Forex Trading Competition.
Details of the registration and completion dates can be found below:
• The Forex Trading Competition starts 00:00 EET (GMT+2) on the 3rd of March 2014.
• The Forex Trading Competition finishes at 23:59 EET (GMT+2) on the 30th of April 2014.
This Forex Trading Competition is available for new and existing clients.
Each contestant opens a Real Trading account with 300 USD as a minimum initial deposit.
Daily rankings and the final rankings of the Forex Trading Competition are published on PaxForex's website.
PaxForex’s employees are not allowed to join the Forex Trading Competition.
By the 30th of May, the top ten contestants with the highest return will receive a prize, which will be added to their Trading account as follows:
First place – $3 000
Second place – $1 000
Third place – $300
Fourth place – $100
Fifth place – $100
Sixth place –$100
Seventh place – $100
Eighth place – $100
Ninth Place – $100
Tenth place – $100
The top ten contestants, ranked by highest Return on the closing of the market at 00:00 EET on the 30th of April 2014, will be published on PaxForex's website. (ex.: Delta's website)
Return = (Net Profit / Deposits) x 100
• The winner should be the one with the highest return on the closing of the market on the 30th of April 2014.
• Net Profit stands for Realised and Unrealised Profit and Loss.
• Deposits stands for initial deposit plus additional deposits (including granted welcome bonuses) during the competition period.
Total Deposits for the period: 1000 USD
Net Profit for the Period: 1000 USD
Return = (Net Profit / Deposits) = (1000 / 1000) x 100 = 100%
Total Deposits for the period: 2000 USD
Net Profit for the Period: 5000 USD
Return = (Net Profit / Deposits) = (5000 / 2000) x 100 = 250%
The Prize is credited to the winner's trading account in the respective base currency of that account. Should the account’s currency be different from USD, the prize amount shall be converted into the currency of the account at the exchange rate provided by PaxForex.
For the award prize to be added into the winner’s trading account, the winner will have to:
Meet and has already have passed the PaxForex’s compliance procedures and checks; and
Provide a detailed report of his/her Forex Trading Competition account when and if requested by PaxForex.
The participant acknowledges and authorizes PaxForex to announce the daily results of the Forex Trading Competition on its website, including each participant’s MT4 account number.
PaxForex will announce the winners within 30 days from the end of the Forex Trading Competition; venue of announcement will be PaxForex’s website.
By winning an Forex Trading Competition prize, the winners accept that they will participate in various promotional events that PaxForex can publicize freely on various venues. Promotional events includes but are not limited to interviews, photos, listing announcement of their full names, nicknames, country of origin, prizes received, etc.
In case of refusal by a winner of not participating in promotional events PaxForex has the right to disqualify the winner and give the prize to the next place participant.
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.
Swap free accounts are disqualified from this contest and are not entitled to receive any awards prizes.
Traders, who take part in the Forex Trading Competition, will be able to trade all the financial instruments available in the PaxForex Trading platform.
PaxForex reserves the right to add or remove financial instruments at any time of the contest period without prior notice.
If PaxForex suspects that a participant has abused the fair rules of the FOREX Trading Competition by hedging his positions internally (using other trading accounts held with PaxForex) or externally (using other trading accounts held with other brokers) or has used any additional plug-ins (i.e. expert advisors) then PaxForex reserves the right to immediate disqualify the participant/client from the FOREX Trading Competition without the consent of the Client.
All trading accounts for the Forex Trading Competition will be Standard Accounts, implying that the company will act as the principal on each client’s trade. In case the client does not comply with PaxForex’s request the participant could be disqualified from the Forex Trading Competition.
PaxForex has the right to modify the terms and conditions of the contest at all times and any such modifications will be posted on the company’s website.
The participant/client acknowledges that Forex is a leveraged product and involves a high level of risk. It is possible to lose more than your invested capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary.
For winners to be able to receive the Forex Trading Competition prize they will need to meet all requirements set in these terms and conditions.
The PaxForex Metatrader 4 User guide (Link to User guide) provides detailed information on the features of the platform and the trading process.
If you have any questions, please don’t hesitate to contact us by email at: email@example.com. or via Live Chat.