"Formula FX" Contest Rules

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  Registration and Conditions of Participation.

  1.1 Contest participation is open to any Alpari client. The following account types may take part in the contest: micro.mt4, micro.mt4.swapfree, classic.mt4, classic.mt4.swapfree, classic.gold.mt4, classic.ndd.mt4, classic.systematic, classic.systematic.swapfree, classic.zulutrade, classic.ndd.zulutrade or pro.ecn.mt4. Only one account may be used for the contest.

  1.2 Contest participation is not open to Alpari employees or their relatives.

  1.3 Accounts open to legal entities are not elible to take part in the contest.

  1.4 To participate in the contest, an you must register on the company website. It is not necessary to re-register to participate in subsequent rounds and you can register in the current round at any time.

  Note: In order to change any personal information that you entered incorrectly during registration, you will need to send a scan of your passport/ID (two-page spread with photo) to contest@alpari.ru . Please include in your email your contest nickname and the errors you would like to correct. You can change your personal information up to two weeks after registration.

  1.5 When registering, Alpari clients must fill in all of the required fields to participate in the contest.

  1.5.1. You may register in the "Trading Contests" section of the Alpari site or in myAlpari.

  1.5.2. If you have already registered for myAlpari, you may register on the Alpari site by entering your nickname and choose the account you wish to enter in the contest. After agreeing to the rules of the contest, click "Register."

  1.5.3. If you have already registered for myAlpari may also register for a contest directly from myAlpari by using the standard form and following the step-by-step instructions.

  1.5.4. If you have registered for myAlpari, but do not have an account that is can be used in the contest, you will need to open an any one of the accounts listed in 1.1 in the "Open an Account" section of myAlpari. After this, you will be able to use the standard registration form to register for the contest either on the site or in myAlpari.

  1.5.5. You may only enter a trading account that is not currently being used in other Alpari trading contests.

  Note: Your password will be used for authentication only at the moment of registration. You may change your password as soon as you have completed registration. All information in the registration form is protected by a 128-bit encryption key using HTTPS protocol which prevents access by unauthorized persons.

   

  1.6 Alpari is obliged to keep all information about the contestants confidential. Thus, only the nickname, country, and city of each contestant is published in the rankings.

  1.7 After successfully completing registration, your account will be added to the list of accounts participating in the contest.

  1.8 To participate in subsequent rounds, you will simply need to go through enter your nickname and MT login in the "re-enter" form of the "Contest Registration" section on the site or in myAlpari.

  1.9 The following currencies may be used as the depost currency on the account being used in the contest:

  • USD (US Dollar)
  • EUR (Euro)
  • GLD (GOLD)

  1.10 The minimum deposit on a contest account is:

  • 30 USD
  • 20 EUR or
  • 25 GLD

  1.11 At the beginning of each round (at 00:00, based on the time in the MetaTrader terminal, when the daily report on completed transactions (Confirmation) is generated), all accounts are checked to determine if the equity is greater than or equal to the required minimum deposit. If the equity exceeds the minimum deposit, the account is moved to the list of "Active Accounts" and will not be checked for the rest of the round. Accounts with an equity level below the required minimum deposit are listed as "Inactive Accounts" and are checked daily until they qualify as "Active".

  1.12 You should read these rules carefully and adhere to them during the contest. Ignorance of the rules will not be considered legitimate grounds for a complaint.

  1.13 Each round lasts one week and and are held every other week.

  1.14 Each round begins on Monday at 00:00, and ends on Saturday at 00:00, based on the time in the MetaTrader terminal.

  1.15 Registration for a round is open the week before the round begins as well as during the round itself.

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  Trading on a Contest Account.

  2.1 You may open positions of any size (within the bounds of the free margin on the trading account and anyrestrictions that exist for the type of account you are using).

  2.2 All transactions must be made in accordance with Alpari's "Terms of Business" and other related documents.

  2.3 Refer to the Contract Specification page to familiarize yourself with the instruments that may be traded.

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  Contest Results, Winners and Prizes.

  3.1 The winners of a contest round will be those with the highest rate of return percentage.

  3.2 If two or more contestants finish with the same rate of return, the tie will be broken in favor of the contestant who had the higher amount of equity at the beginning of the contest.

  3.3 Alpari will publish the results of the contest on its website within 96 hours of the end of a contest round (the contestants' transaction register).

  3.4 Preliminary results are subject to appeal for 24 hours after the end of the contest round, after which they become final and cannot be appealed.

  3.5 Winners must request to have their prize credited to their account within 7 days after the end of a round.

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  Prizes

  4.1 The prizes will be distributed as follows.

  4.1.1 Contestants who finish in the 10 top places will receive cash prizes as detailed below. The prizes will be credited to the account the contestant used in the contest:

  Place	Prize
  1st	400 USD
  2nd	350 USD
  3rd	200 USD
  4th	160 USD
  5th	140 USD
  6th	120 USD
  7th	100 USD
  8th	80 USD
  9th	30 USD
  10th	20 USD

  4.2 Prizes are only credited to the account used in the contest and prizewinners may not request that a prize be credited to another account.

  4.3 Prizes are credited to a client's live account according to Alpari's internal exchange rate, which is published daily in myAlpari in the Conversion Rates and Fees section.

  4.4 A contestant can withdraw a prize at any time after it has been credited to their live account. The prize can be withdrawn using any of the methods listed on the website.

  4.5 Prizewinners are obligated to participate in Alpari promotional events, interviews, photo essays,and public announcements on current promtions. Alpari, however, is obligated to not mention any personal data (including full names) of any contestants without their consent.

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  Complaints and Disputes.

  5.1 All complaints that arise during the contest which are associated with operations on a trading account are reviewed in accordance with the "Terms of Business".

  5.2 Complaints arising in connection with the results of a round or the contest as a whole should be sent to contest@alpari.ru with the subject "Formula FX". Complaints sent by another method (such as the Alpari Forum) will not be accepted.

  5.3 Contestants who wish to dispute their rating should demonstrate how the rating was calculated improperly and must also send their version.

  5.4 The Contest Administration has the right to reject a complaint if it does not conform to the terms specified in clauses 5.2, 5.3.

  5.5 In any disputes, the Contest Administration will be the sole authority to make final decisions based on common market practice.

  5.6 Abuse or manipulation of the contest rules may result in a warning or, if deemed necessary, disqualification from the contest.

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  Force Majeure.

  6.1 The Contest Administration has the right to suspend or terminate the contest if a situation arises where the conditions are unfair for most contestants.

  6.2 The Contest Administration has the right to suspend or terminate the contest if its continuation is rendered impossible due to extraordinary circumstances beyond the control of the Contest Administration (natural disasters, war, political conflict, etc...)

  6.3 In the case of suspension or termination of the contest, the Contest Administration may resume the contest with the same contestants (having saved or restored account data at the moment the contest was suspended), or hold registration again and start the contest again from the beginning. In all cases, the final decision will be made by the Contest Administration and all information on this decision will be posted on the website with reasonable advanced notice.

  6.4 If the contest is not resumed and completed, the results at the moment of suspension will not be considered to form the grounds for the awarding of prizes.

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  Changes to the Contest Rules.

  7.1 If there is any glaring error in the criteria for selecting a winner, the Contest Administration will make the necessary changes in the formulas for the rating calculation.

  7.2 The Contest Rules may be supplemented with any necessary explanatory documents.

  7.3 The final results of each round are not subject to revision.

Commentary to the Rules

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  Index Calculation Formulas

  Profit Percentage (%)

  • Profit Percentage = (DailyEquity-BeginningEquity-(Deposit-Withdrawal)) / (BeginningEquity+Deposit)*100(%),

  where

  • BeginningEquity — initial deposit (Equity the moment the Confirmation is formulated);
  • DailyEquity — (Equity) at the moment of the initial Confirmation;
  • Deposit — funds deposited on the account during the round;
  • Withdrawal — funds withdraw from the account during the round (absolute amount);
  • Equity — current state of the account;
  • Equity = Balance + Floating Profit- Floating Loss,
  • Floating Profit/Loss — floating profit/loss ( not yet recorded profit/loss on open positions according to current exchange rates). 

  Note: depositing funds worsens the Profit Percentage index.
  
  

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