"Virtual Reality" Contest Rules

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  Registration and Conditions of Participation.

  1.1 You must register for the contest in order to participate.

  1.2 Alpari staff and their relatives are not allowed to participate.

  1.3 During registration, you must indicate your full name, surname, email, contact phone, passport information (this information will not be disclosed), and also a nickname to participate in the contest in the registration form. After completing the registration form, four contest demo accounts are opened for the contestant (with USD as the deposit currency) to participate in the first, second, third, and fourth rounds respectively. Every contest account has its own unique login and password.

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

  1.4 Each contestant is given 100,000 USD as an initial "virtual deposit".

  1.5 You may register for the contest only one time. You can, however, register for the current round at any time (see the schedule in clause 1.8)

  1.6 If you lose your login number or password), you must send a scan of your passport/ID (two-page spread with photo) to contest@alpari.ru. Make sure to mention your nickname for the contest in the email.

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

  1.8 The date and time for the start and end of registration and each round itself is detailed below:

  ROUND 1	Registration from 01.01.2012 to 06.04.2012.	Start — 00:00, 23.01.2012. End — 00:00, 07.04.2012.
  ROUND 2	Registration from 06.04.2012 to 29.06.2012.	Start — 00:00, 16.04.2012. End — 00:00, 30.06.2012.
  ROUND 3	Registration from 29.06.2012 to 21.09.2012.	Start — 00:00, 09.07.2012. End — 00:00, 22.09.2012.
  ROUND 4	Registration from 21.09.2012 to 14.12.2012.	Start — 00:00, 01.10.2012. End — 00:00, 15.12.2012.

  
  

  Note: All time indicated in EET (The time displayed in MT4).

• Read Close 2

  Making Transactions on a Contest Account.

  2.1 Contestants may trade those Forex instruments which are , accessible for trading on classic.mt4 accounts.

  2.2 Contest contestants can trade with "virtual money" on their "virtual account" only through the MetaTrader: Alpari informational trading terminal (version 4.00 build 402 and higher). Contest contestants are not allowed to complete operations by telephone through the Alpari operating service.

  2.3 To complete operations on the contest account, a contestant must install the MetaTrader: Alpari platform (version 4.00 build 220 and higher). The server address that hosts contest accounts is: 178.255.200.44:443, 178.255.200.24:443, 178.255.202.37:443 or "Alpari-Contest".

  2.4 Leverage on these accounts is 1:10.

  2.5 The Contest Administration has the right to disqualify a contestant(s) if:

  • A contestant is working off more than one contest demo account;
  • More than two contestants are working from the same IP-address;
  • A contestant completes an operation via an anonymous HTTP/socks proxy-server.

  Contestants using dynamic IP-аddresses should be aware of the possible risks, as mentioned in clause 2.5. The Contest Administration strongly recommends using a static IP-address to participate in the "Virtual Reality" contest. A contestant who has been disqualified is automatically removed from the list of participants for the duration of the competition.

  2.6 All transactions must be made in accordance with the provisions in sections 2, 3, 4, 5 and 6 of the "Terms of Business", except for that on the contest account, the word "dealer" means "server software".

  2.7 You are not allowed to use proxy, HTTPort, SOCKScap or any other similar programs unless direct connection is impossible (443 port is closed). If this is the case, you need to indicate the name, address, and telephone of the organization, from whose local network you plan to use, and send this information to contest@alpari.ru. You must then use this organization's HTTP/socks server to complete operations on the contest account.

  2.8. The contest account may only be used for trading while a contest round is in progress.

  2.9. The daily change in account equity is calculated during Rollover. Every night at 23:59 EET (MetaTrader time), your positions will be closed and reopened. The equity change at Rollover will be recorded in your trading report.

• Read Close 3

  Contest Results, Winners and Prizes.

  3.1 All open positions at the end of the contest will be closed based on the last quote in MetaTrader at the moment the contest ends.

  3.2 The Contest Administration carries out the operations described in clause 3.1 48 hours after the contest round ends after which the process of determining the winners will begin.

  3.3 The round winner is determined as follows.

  3.3.1 The Final Rating is calculated :

  • Percentage of Profit (Priority #1);
  • Percentage of Maximum Relative Drawdown (Priority #2);
  • Profit Factor (Priority #3).

  Note: The formulas for index calculation can be found in the commentary to the contest rules (Commentary #1) and also the procedure for forming a detailed report (Commentary #2).

  3.3.2 Each contestant's final rating is calculated using the following method:

  • a) The Plus Ranking- includes contestants with a positive result, i.e. the current liquid balance is more than the initial deposit (BeginningEquity). The Plus Ranking is formed in accordance with index priority level (see clause 3.3.1). If the Percentage of Profit reading of two or more contestants is the same, then placement in the Plus Ranking is determined by the Percentage of Maximum Relative Drawdown (Priority 2). If both the Percentage of Profit and Percentage of Maximum Relative Drawdown readings are the same for two or more contestants, then Plus Ranking placement is determined by the Profit Factor index (Priority 3). If ALL the priority readings are the same for two or more contestants, the contestant with the smaller login number to MetaTrader 4 takes a higher place in the rating.
  • b) The Final Rating is calculated for each contestant in the Top 50 of the Plus Ranking, which earns them rating points on each index from clause 3.3.1.
  • c) The contestant who is in first place in the Final Rating of the Percentage of Profit index (i.e. has the highest reading of that index), gets 50 points, second place gets 49 points and so on until 50th place gets 1 point. If two or more contestants have the same Percentage of Profit reading, the contestant who has a higher standing in the Plus Ranking takes the higher place.
  • d) The contestant who is in first place in the Final Rating of the Percentage of Maximum Relative Drawdown index (i.e. has the lowest reading of that index), gets 50 points, second place gets 49 points and so on until 50th place gets 1 point. If two or more contestants have the same Percentage of Maximum Relative Drawdown reading, the contestant who has a higher standing in the Plus Ranking takes the higher place.
  • e) The contestant who is in first place in the Final Rating of the Profit Factor index (i.e. has the highest reading of that index), gets 50 points, second place gets 49 points and so on until 50th place gets 1 point. If two or more contestants have the same Profit Factor reading, the contestant who has a higher standing in the Plus Ranking takes the higher place.
  • f) The sum of all points becomes a contestant's Final Rating (IR).

  Note: An example of a calculation of the Final Rating can be found in the "More Information" section at the end of the contest rules (Commentary #3).

  3.3.3 If two or more contestants have the same Final Rating, the contestant with the highest reading of an index (in order of priority) takes the higher place (see clause 3.3.1).

  3.4 The determination of the overall winner from the results of the entire contest is carried out as follows.

  3.4.1 A list of the top contenders is formed from all contest contestants who have a Final Rating from a previous round that is larger than zero.

  3.4.2 An Overall Rating (SR) is calculated for every contestant included on the list of top contenders. The Overall Rating is the sum of final ratings from each round:

  • SR = IR1 + IR2 + IR3 + IR4,
  • where
  • SR — Overall Rating;
  • IR1 — Final Rating for the first round;
  • IR2 — Final Rating for the second round;
  • IR3 — Final Rating for the third round;
  • IR4 — Final Rating for the fourth round.

  3.4.3 If two or more contestants have the same Final Rating, the contestant with the highest reading of an index (in order of priority) takes the higher place (see clause 3.3.1).

  Priority #1 is the total sum of the Percentage of Profit index:

  • PPtotal = PP1+ PP2+ PP3+ PP4,
  • where
  • PPtotal — Final Percentage of Profit for all four rounds;
  • PP1 — Percentage of Profit for the first round;
  • PP2 — Percentage of Profit for the second round;
  • PP3 — Percentage of Profit for the third round;
  • PP4 — Percentage of Profit for the fourth roung.

  Priority #2 is the total sum of the Maximum Relative Drawdown index:

  • PMRDtotal= PMRD1+ PMRD2+ PMRD3+ PMRD4,
  • where
  • PMRDtotal — Final Maximum Relative Drawdown for all four rounds;
  • PMRD1 — Maximum Relative Drawdown for the first round;
  • PMRD2 — Maximum Relative Drawdown for the second round;
  • PMRD3 — Maximum Relative Drawdown for the third round;
  • PMRD4 — Maximum Relative Drawdown for the fourth round.

  Priority #3 is the total sum of the Profit Factor index:

  • PFtotal = PF1+ PF2+ PF3+ PF4,
  • where
  • PFtotal — Final Profit Factor for all four rounds;
  • PF1 — Profit Factor for the first round;
  • PF2 — Profit Factor for the second round;
  • PF3 — Profit Factor for the third round;
  • PF4 — Profit Factor for the fourth round.

  If the total sums of the Percentage of Profit, Maximum Relative Drawdown and Profit Factor readings are the same, placement (above 3rd place) in the Overall Rating is determined by a drawing of lots. The method for drawing lots is determined by the Contest Administration if such a situation arises.

  3.5 Alpari publishes the preliminary results on the company website within 96 hours of the end of a contest round.

  3.6 Preliminary results are subject to appeal for 144 hours after the end of the contest round, after which they become final and are no longer subject to appeal.

  3.7 Requests for the credit of prizes are accepted for 60 days after the end of the round.

• Read Close 4

  Prizes

  4.1 According to the results of the round, the following contestants are awarded.

  4.1.1 contestants holding one of the Top 15 places, in accordance with clause 3.3, receive cash prizes in one of the following sums (dependent on placement in the results), which Alpari credits to the contestant's live account:

  Place	Prize
  1st	2,500 USD
  2nd	1,000 USD
  3rd	800 USD
  4th	600 USD
  5th	300 USD
  6th	200 USD
  7th	100 USD
  8th	90 USD
  9th	80 USD
  10th	70 USD
  11th	60 USD
  12th	50 USD
  13th	40 USD
  14th	30 USD
  15th	20 USD

  
  If two or more contestants end up in the same prizewinning place (for example, two second place winners), the prize pool reserved for that place is shared evenly between those contestants.

  Note: There is an example of a split prize pool in the commentary to the contest rules (Commentary #4).

  4.2 Based on the results of the entire contest, the top contestant will be awarded in accordance with clause 3.4. As a prize, they will receive a PAMM Account, pre-loaded with 10,000 USD as the Manager's Capital.

  Note: As a prize, a PAMM Account will be given to the top finisher for a period of one year. At the end of the year, all positions on the account will be closed and all profit/loss will be distributed proportionally among the Managers and investors in accordance with the PAMM Account Regulations.

  4.2.1 The overall winner will be awarded their prize in accordance with clause 3.6. They will be required to send the following materials no later than 60 days after the end of the 4th round to contest@alpari.ru:

  a) A scanned copy of their passport (two-page spread with photo and registration);

  b) User name on the Alpari Forum.

  Alpari will not be obligated to distribute prizes until this information is received.

  Upon receiving the email with the contents listed above, Alpari will send the contest winner a letter to the email address indicated by the participant during registration containing a special login and password to log in to MetaTrader to access a pamm.mt4 prize account.

  4.2.2 The Manager's Capital credited to the pamm.mt4 account is non-withdrawable.

  4.2.3 The capital of a Managed Account pamm.mt4 can not be changed.

  4.2.4 The Trading Session is one quarter.

  4.2.5 If the awarded PAMM Account is liquidated, the Manager's Capital can be withdrawn, after the deduction of the 10,000 USD prize.

  4.3 Every contestant who is awarded with a prize in the final results needs to open a classic.mt4 or micro.mt4 live account at Alpari and send an email to contest@alpari.ru containing the following:

  a) Login and password to the contest account;

  b) Scanned copy of passport/ID (two-page spread with photo and registration);

  c) Account number and login for the MetaTrader live account opened under the contestant's name, specifying the type of account (classic.mt4 or micro.mt4) and the deposit currency.

  Until this email is received, Alpari remains unobligated to award this contestant.

  4.3.1 A contestant who is awarded with a prize is not allowed to demand crediting of the prize to a live account that is not in the name of the contestant.

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

  4.3.3 A contestant can withdraw the prize at any time after the prize is credited to the live account, in accordance with clause 4.3 using any of the withdrawal methods listed on the website.

  4.4 Winners and runners-up are obligated to participate in Alpari promotional events, interviews, photo essays,and public announcements on current promtions. This being said, Alpari is obliged to not to mention any personal data (including full names) of any contestants without their consent.

  4.5 In the case of refusal to participate in promotional events, interviews, public announcements, etc., the Contest Administration has the right to disqualify a contestant and give the prize to the contestant in the next place in the Overall Rating.

• Read Close 5

  Complaints and Disputes.

  5.1 All complaints concerning contest results should be sent to contest@alpari.ru with the name of the contest in subject "Virtual Reality". Complaints sent by another method (particularly on the Alpari Forum), will not be taken under consideration.

  5.2 Contestants who wish to dispute their rating should demonstrate how the rating was calculated improperly and also send their version using the procedure shown in clause 5.1.

  5.3 The Contest Administration has the right to reject a complaint if it does not conform to the terms specified in clauses 5.1, 5.2.

  5.4 Complaints associated with the inability to complete operations on a contest account because of bad connection quality either on the side of a contestant or an Alpari provider will not be accepted.

  5.5 Complaints about the quotes in the MetaTrader: Alpari system will not be taken under consideration, except where there have been obvious mistakes.

  5.6 In any disputes, the Contest Administration will be the sole authority to make final decisions based on the Alpari "Terms of Business" or common market practice.

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

  5.8. In the event that a contestant knowingly tampers with the "Alpari-Contest" server to increase their contest rating, Alpari reserves the right to warn the contestant of a potential disqualification, or, in certain cases, immediately disqualify the contestant. Alpari also reserves the right to disqualify contestants if it is discovered that positions on their account were either opened or closed at non-market rates, and this was not due to a technical malfunction of the "Alpari-Contest" server.

• Read Close 6

  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 If the contest is suspended, 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.

• Read Close 7

  Changes to the Contest Rules.

  7.1 If there is any glaring error in the criteria for selecting a winner, Alpari will make 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.

More Information

• Read Close 1

  Index Calculation Formulas.

  Percentage of Profit (%).

  • Percentage of Profit = Total Net Profit / Initial Deposit *100 (%),
  • where
  • Initial Deposit — starting deposit;
  • Total Net Profit — pure profit, showing the difference between total profit and total loss;
  • Total Net Profit = Gross Рrofit — Gross Loss,
  • where
  • Gross Profit — total profit, sum of profits from all profitable transactions;
  • Gross Loss — total loss, sum of losses from all unprofitable transactions.

  Percentage of Maximum Relative Drawdown (%).

  

  Figure 1.

  Drawdown is the difference between one of the highest peaks on the DailyEquity movement chart and the closest lowest peak.

  An example of the Drawdown calculation for the DailyEquity movement chart (Figure 1) is shown below:
  
  DrawDown1 = H1 — L1 = 10012 — 9580 = 432
  DrawDown2 = H2 — L2 = 10036 — 9534 = 502
  DrawDown3 = H3 — L3 = 10404 — 9590 = 814
  DrawDown4 = H4 — L4 = 10772 — 9952 = 820

  MaxRelativeDrawdown (%) determines which maximum losses will be fixed on the account.

  In Figure 1, the main stages of the Relative Drawdown movement are shown in numeric form . The final value of the Relative Drawdown is the drawdown under number "3".

  An example of the Relative Drawdown calculation for the DailyEquity movement chart (Figure 1) is shown below:
  
  PercentDrawDown1 = (H1 — L1) / H1 х 100 = (10012 — 9580) / 10012 х 100 = 4.31%
  PercentDrawDown2 = (H2 — L2) / H2 х 100 = (10036 — 9534) / 10036 х 100 = 5%
  PercentDrawDown3 = (H3 — L3) / H3 х 100 = (10404 — 9590) / 10404 х 100 = 7.82%
  PercentDrawDown4 = (H4 — L4) / H4 х 100 = (10772 — 9952) / 10772 х 100 = 7.61%
  Relative Drawdown = 7.82%

  Note: In this example, Relative Drawdown "3" has a lower absolute value than the absolute value of Drawdown "4", but a higher percentage value.

  Profit Factor shows profitability, the relationship between total profits and total losses:

  • Profit Factor = Gross Profit / Gross Loss,
  • where
  • Gross Profit — total profit, sum of profits from all profitable transactions;
  • Gross Loss — total loss, sum of losses from all unprofitable transactions.
• Read Close 2

  Procedure for Forming a Detailed Report.

  You can find out the current reading for an index through the following method: launch MetaTrader 4, choose "Terminal" in the "View" menu, then "Account History". Next, right-click the mouse and choose "Save as Detailed Report" in the context window that appears (see Figures 2, 3).

  

  Figure 2.

  

  Figure 3.

• Read Close 3

  Example of the Final Rating Calculation.
  

  Place	Account	nickname	Profit% (Score)	Drawdown% (Score)	Profit Factor (Score)	IR
  1st	654321	Gatti	30.77 (34)	9.26 (47)	2.83 (43)	124

  
  

  IR = PPp + PMRDp + PFp = 34 + 47 + 43 = 124,

  • where
  • IR — Final Rating;
  • PPp — Number of points (score) for Percentage of Profit;
  • PMRDp — Number of points (score) for Percentage of Maximum Relative Drawdown;
  • PFp — Number of points (score) for Profit Factor.
• Read Close 4

  Example of prize calculation in the case of the Final Rating and Percentage of Profit, Maximum Relative Drawdown, and Profit Factor readings being the same.

  Place	Account	nickname	Profit% (Score)	Drawdown% (Score)	Profit Factor (Score)	IR	Prize
  1	-	Gatti	-	-	-	125	2,500 USD
  2	-	Gatti1	-	-	-	123	1,000 USD
  3	-	Gatti2	-	-	-	121	800 USD
  4	-	Gatti3	-	-	-	120	600 USD
  5	-	Gatti4	-	-	-	118	300 USD
  6	-	Gatti5	-	-	-	117	200 USD
  7	-	Gatti6	-	-	-	116	100 USD
  8	-	Gatti7	-	-	-	115	90 USD
  9	-	Gatti8	-	-	-	114	80 USD
  10	-	Gatti9	-	-	-	113	70 USD
  11	-	Gatti10	-	-	-	112	60 USD
  12	-	Gatti11	-	-	-	111	50 USD
  13	-	Gatti12	23.89 (10)	0 (50)	max (50)	110	40 USD
  14	-	Gatti13	23.89 (10)	0 (50)	max (50)	110	30 USD
  15	-	Gatti14	23.89 (10)	0 (50)	max (50)	110	20 USD

  
  

  In this example, contestants Gatti12, Gatti13 and Gatti14 have the same final rating and thus will share the prize pool for (13th and 14th and 15th places).

  Prize = prize pool / number of contenders.

  In this example, each contestant receives a prize in the amount of (70 + 50 + 0) / 3 = 40 USD.

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