Trading forex/CFD's on margin carries a high level of risk and may not be suitable for all investors as you could sustain losses in excess of deposits. Leverage can work against you. Before actively participating in this contest or trading any products offered by FXCM South Africa (PTY) LTD (“FXCM”), you should be aware and fully understand all risks associated with the market and trading and carefully consider your financial situation and experience level.
ENTRY AND CONTEST ELIGIBILITY:
In order to be eligible for FXCM Africa Trading Contest (the "Contest"), you must:
- be over eighteen years of age or over the age of maturity in your jurisdiction;
- be a new or existing retail client of FXCM, with an active account, such account always being subject to FXCM’s Terms of Business, and which must not be subject to any dispute or default during the Contest Period (defined below);
- reside in one of the following countries: Angola, Botswana, Gambia, Ghana, Kenya, Lesotho, Malawi, Mauritius, Mozambique, Namibia, Nigeria, Sierra Leone, South Africa, Swaziland (Eswatini), Tanzania, Uganda, Zambia;
- be utilizing either of FXCM's Trading Station or MT4 platforms;
- have equity of $500USD or equivalent in your account at the start of the Contest Trading Period. Clients that do not have $500USD or equivalent in their account at the start of the Contest Trading Period are able to deposit the required funds at any time during the Contest Trading Period. If the sum of monthly deposits and equity at the start of the Contest Trading Period is in excess of $500USD or equivalent, the account will be considered eligible.;
- agree and comply with these Contest Rules.
- only one prize per Month is allowed per account holder or trader. There is no registration form or entry fee required;all live and eligible FXCM Accounts (the "Eligible Traders") will be automatically entered into the contest;
- in order to receive a prize for any given Month an Eligible Trader must complete a minimum of ten (10) orders regardless of trade size, during such Month.
Withdrawing or transferring out funds from your account or receiving a "margin call" will disqualify an otherwise Eligible Trader from the Contest for that Month. FXCM shall have sole discretion to disqualify any otherwise Eligible Trader found in violation of these Terms & Conditions (the "Contest rules"). FXCM, in its sole discretion, may disqualify any Eligible Trader for any reason.
CONTEST TRADING PERIOD:
For the purposes of the Contest, the trading month (the "Month") officially begins at 5:00 PM Eastern Standard Time on the last day of the previous calendar month and ends at 5:00pm Eastern Standard Time on the last day of each calendar month.
Once an Eligible Trader opts out via the process set forth in this Section, such contestant will be disqualified from the Contest (not just for the Month in which such opt out is received) until FXCM receives notice otherwise.
DETERMINATION OF WINNERS AND DAILY PERCENTAGE GAIN:
For the purposes of the Contest, the monthly percentage gain will be calculated utilizing the following formula:
The prize winners will be the three Eligible Traders, who have neither opted out nor been disqualified, with the highest percentage gain over the course of the Month (the "Monthly Winners").
Monthly percentage gain is derived solely from trading activity.
Each month prizes will be given to each of the Monthly Winners in the following amounts within thirty (30) calendar days of the end of each Month:
1st Place Monthly Winner: $500 credited to your trading account
2nd and 3rd Place Monthly Winner: $250 credited to your trading account
4th-10th Place Monthly Winner: FXCM App Store voucher of $100USD value for FXCM Developed Apps.
Prizes will be awarded in currency denomination of your existing account. Prize money will be converted from USD to the currency denomination of the prize winner’s account at a rate set by FXCM in its sole discretion.
FXCMAPP.COM vouchers cannot be applied to previously placed orders and are not transferable or redeemable for cash or credit.
A coupon code may only be applied towards certain FXCM Apps, which are specified by FXCM from time to time. Apps developed by Third Parties (not developed by FXCM) are excluded from coupon codes unless otherwise specified.
To apply a coupon code, you must enter it prior to completing the order and coupon codes cannot be used in combination with other coupon codes.
Coupon codes can only be used once. If you want to redeem the full value of a coupon code, you must apply the code to a shopping cart containing FXCM-developed app(s) with a Subtotal equal to or greater than the value of the coupon code. If you complete a purchase for less than the face value of the coupon code, any unused difference between the actual amount of the discount received and the maximum amount will be forfeited.
LIABILITY AND COMMUNICATION DELAYS:
FXCM shall not incur any liability to you in connection with this Contest due to reasons beyond FXCM’s reasonable control, including (but not limited to) any problems with the acceptance or transmission of orders due to a breakdown or failure of transmission or communication facilities, or any applicable instrument being delisted or changed substantially.
CONTEST TRADING REGULATIONS:
The purpose of the Contest Rules is to ensure that every Eligible Trader has the same opportunity for success in the Contest as other Eligible Traders. FXCM reserves the right to amend, waive, suspend, terminate or interpret any portion of the Contest Rules in its sole discretion, and at any time without prior notice. In such event, FXCM will make reasonable efforts to notify you by email.
USE OF CONTEST FOR PROMOTIONAL PURPOSES:
To be eligible to receive a prize pursuant to the Contest, a Monthly Winner must be willing to permit their initials, location, winner’s survey and trading record ("Trader Information") for the Month to be published and/or distributed by FXCM, its agent and successors during and after the life of the Contest.
Personal information such as, but not limited to, your full name, address and account number(s) will not be published.
If a Monthly Winner chooses not to permit publication of his or her Trader Information such Monthly Winner must opt-out pursuant upon being contacted by FXCM or FXCM's agents or representatives. Upon opting-out, such Monthly Winner shall forfeit any prize money due to them pursuant to the Contest for the Month in which such prize money is due.
POSTPONEMENT OR CANCELLATION:
FXCM reserves the right to extend the trading period of each Month, to postpone the starting date of each Month, or to cancel the Contest if, in FXCM's sole discretion, it determines that such action is reasonable or necessary.
Monthly Winners are solely responsible for all federal, state, and local taxes due because of any prizes received.