in the contest
the contest account
1. Contest period, registration, and participation terms
- 1.1. The contest “Supermarathon LiteForex” is conducted from 00:00:01, 01.12.2013 till 23:59:59, 30.12.2013 (according to the server time GMT 3 as indicated in the trading platform).
- 1.2. After having registered, a participant gets a contest account REAL with the maximum leverage of 1:200 or LITE with the maximum leverage of 1:500 at the client’s option, according to his account type.
- 1.3. Every client who has a profile with LiteForex may participate in the contest and register as many times as he wishes at any time during the contest period.
If you do not have a Profile at LiteForex, please sign up at https://secure.liteforex.com/profile/register. Next, please register in the contest using the form on the right of the current page.
- 1.4. The initial deposit required for participation equals $100 per each contest account. The amount and number of deposits are not limited.
- 1.5. The LiteForex Company is the official organizer and sponsor of the contest “Supermarathon LiteForex”.
2. Prize fund
- 2.1. The total prize fund amounts to 30 000 USD and will be shared between 20 winners.
- 2.2. The 1st winner will have the possibility to double the profit he has made during the contest, 19 other winners will win money prizes as follows:
- 2.3. Prize funds will be deposited in the winner’s trading account with LiteForex and displayed in the “balance” column. They can be used in trading, profit making or fully withdrawn from the account without any restrictions.
|Rank||Prize (% of the profit)||Maximum prize value|
|1st||100%||15 000 USD|
|2d||50%||5 000 USD|
|3d||25%||2 500 USD|
|4th and 5th||15%||1 000 USD|
|From 6th to 10th||10%||500 USD|
|From 11th to 20th||5%||300 USD|
3. Determination of winners and trading conditions
- 3.1. The first 20 participants reaching the highest value “% Profit” at the end of the contest in accordance with the final verification of results will be considered as the winners of the contest “Supermarathon LiteForex”. The value “% Profit” is calculated as follows:
EquityCurrent is the current equity
EquityStart is the initial equity
∑DPST is the sum of deposits.
- 3.2 The value % Profit will be calculated from the moment of paying the initial minimum deposit of $100 into the contest account.
- 3.3. The terms of trading by use of contest account correspond to the provisions set out in the company’s governing documents: the Public Offer Agreement and the Agreement on Quoting System and Transactions Procedure.
- 3.4. A participant may be disqualified during the contest or during the final check of results without explanation and without any special notification.
The reasons for disqualification may be the following:
- Violation or non-observance of the contest rules;
- Violation or non-observance of the Public Offer Agreement and Agreement on Quoting System and Transactions Procedure;
- Presence of several Profiles belonging to the same physical person;
- Provision of false personal information when registering or refuse to confirm identification data with documents;
- Opening counter transactions of big amounts on the same currency pairs in different accounts and at the same time approximately;
- Presence of contest transactions, including lock trades, whose duration is less than 2 minutes;
- Ascertainment or suspicion that a participant has committed any kind of fraudulent action for being included into the list of winners.
- 3.5. Only those participants who have been actively trading during the contest period and have reached a positive value of profit without breaking the contest rules can be regarded as winners.
- 3.6. Margin requirements and trading terms correspond to the account type selected by a participant. The size of leverage may not be changed in the contest accounts during the contest. A participant may use any trading advisors and strategies that comply with the Public Offer Agreement and the Agreement on Quoting System and Transactions Procedure of the LiteForex company;
- 3.7. Bonus promotions offered by LiteForex do not apply to the contest accounts during the contest period.
4. Rights and obligations of the Organizer and Participants
- 4.1. When registering in the contest, every participant guarantees that his personal data provided in the Client’s Profile are up-to-date and true.
- 4.2. The Organizer has the right to request any further identification information and documents to verify a participant’s identity and the latter undertakes to provide such information at the Organizer’s request.
- 4.3. The Organizer has the right to refuse the prize without giving explanations if there is a suspicion of rules violation or if the winner has refused to verify his profile and provide additional information regarding his identity.
- 4.4. The company’s representatives and staff as well as their relatives are not allowed to participate in the contest.
- 4.5. The Organizer has the right to amend the contest terms at any time without special notification.
- 4.6. The Organizer undertakes to pay prizes to the winners within 5 business days from the date of the end of the contest provided that all provisions of these rules have been respected.
- 4.7. The LiteForex Company reserves the right to use the information related to the winning accounts for advertizing purposes and publish it in any sources of information. The winners are invited to participate in LiteForex’s advertising and marketing actions such as interviews, photo- and video-reportages, and press releases concerning the contest. At the same time LiteForex commits itself not to divulge the winner’s private information (including name and surname) without the winner’s consent. Should a winner refuse to participate in these actions, the LiteForex Company reserves the right to change the list of winners.
- 4.8. Any claims arising in the course of the contest shall be examined in accordance with the regulations of the paragraph 6 of the Public Offer Agreement and the item 7 of the Agreement on Quoting System and Transactions Procedure. A situation which is not covered by these rules or LiteForex’s official regulations shall be sorted out by means of talks. The final decision shall be made by the Organizer of the contest and shall not be revised.
Making money in the foreign exchange market Forex is a high-risk activity and may not be convenient for all investors. A client shall thoroughly analyse his/her financial potential with regard to such trades.
- 1. How to register in the contest?
If you are an existing client and you have a profile with the LiteForex Company, you need to enter your email address (your current login from the Client’s Profile), and select the contest account type and leverage in the contest registration form located on the right of this page. After you have clicked on “Register”, we will open a required contest account for you and you will be able to top it up and become a contest participant. The information on your contest account will be sent to your email address.
If you don’t have a profile with LiteForex, but you wish to take part in the contest, you need to enter the required data in the contest registration form on the right of the page: type in your email address, select the contest account type and leverage. After you have clicked on “Register”, you will be redirected to the profile registration page. Please enter all required information and click on “Next”. After that, you’ll have your personal profile registered and your contest account opened, and you’ll be able to top up your account and participate in the contest. All registration information will be sent to your email address.
- 2. How many accounts may I open for participation?
You can register in the contest as many times as you want and open an unlimited number of accounts. Thus, every client may participate in the contest with several accounts and win several prizes.
Please note, that a client may not have more than 10 active accounts at a time in his personal profile.
- 3. May my current account participate in the contest?
No, current accounts may not be registered in the contest. When registering in the contest, a new contest account is opened and you need to deposit an initial capital in it.
- 4. May I deposit funds in the contest account using a transfer between trading accounts?
Yes, you may make transfers between trading accounts, but the initial minimum capital must not be paid by use of internal transfer.
- 5. Why is the minimum initial capital limited?
This limitation is connected with the prize fund maximum amount that the company will share among the winners.
- 6. How much will I win if my contest deposit is $1500? Will I rank first and reach the profitability of 400%?
If your initial deposit amounts to $1500 and you reach the profitability of 400 %, the balance will have equaled $7500 by the end of the contest (according to the formula provided in the contest rules). Thus, your profit will be $6000. If you rank first, the company will pay you a prize equal to 100% of your profit, i.e. $6000$.
Let’s examine another example. Let’s assume that the initial deposit amounts to $5 000. The profitability will have equaled 400% by the end of the contest, which corresponds to $20 000 of the final balance, thus the profit amount is $15 000. In case you rank first, the company will pay you a prize equal to 100% of your profit, i.e. $15 000.
- 7. May I top up my contest account or withdraw funds from it during the contest?
Yes, you may. We don’t limit our clients as to what to do with their funds both during the contest period and after its end.
- 8. How will my ranking change when I have deposited funds in my contest account?
When topping up your account during the contest period, the Equity value will be increasing, but the profitability taken into consideration when determining winners will be decreasing as the denominator in the formula contains the sum of all deposits in order to avoid competition based only on the number of deposits. That’s why only the increase in Equity achieved with active trading will be taken into account. But remember that a greater amount of available funds will let you earn more in money terms, and thus your prize will be bigger (see the question 6).
- 9. How will my ranking change when I withdraw funds from my contest account?
When withdrawing funds from the contest account, the account Equity will be decreased by the withdrawal amount, and it will negatively affect the profitability. When you have made some profit, you’d better reinvest it or hold it in your account till the contest ends.