The Forex Championship (hereinafter “TFC”) is organizing a competition on the foreign exchange market (hereinafter referred to as “The Forex Championship”). The rules and regulations of The Forex Championship are defined below.
The Forex Championship is intended for people who are familiar with market operations and their corresponding rules, and are also aware of the rapid fluctuations that may occur in the currency markets and their speculative nature.
No investment or purchase is required to participate in The Forex Championship.
2.1.1 Only individual entities of legal age and capable of making their own decisions are allowed to participate in The Forex Championship. The first 15,000 that register will be allowed to participate.
2.1.2 The following are excluded:
Collective participation: the participation to The Forex Championship is on an individual basis only.
Members of staff from RTFX Ltd and TFC and members of their families (ascendants, collateral and direct descendants) and their spouses.
2.2 Account Activation “Forex Championship”
2.2.1 Those individuals who wish to enroll and participate in The Forex Championship shall request a free virtual account “The Forex Championship” (hereinafter referred to as “Dedicated Account”) on www.theforexchampionship.com from the 3rd of September 2012 to the 30th of August 2013, 2230hrs CET. The registration form can be found exclusively on the website http://theforexchampionship.com.
2.2.2 The account allocated is a private account whose sole owner is the Participant of The Forex Championship. It is not transferable. Only one account per household, computer and Participant is allowed. TFC will carry out checks on potential winners and accounts considered suspicious will be immediately and permanently disabled and removed from the competition. Any registration made with false or incomplete information will be excluded.
The deletion of Participants with similar IP address is at TFC’s sole discretion.
2.3 Acceptance of Regulations
These Regulations shall be deemed accepted once a Participant in The Forex Championship connects to the dedicated account.
Each Participant must choose a username on the registration form available on the website that will be displayed on the Dedicated Account and the various classifications of The Forex Championship.
The starting balance on the virtual Dedicated Account which is to serve as a reference and a starting point of The Forex Championship is that of 5,000,000 Euros. The commencement date of The Forex Championship is on the 3rd of September 2012 at 0200hrs CET.
3.2 Placing of orders for the duration of The Forex Championship
Participants may place orders on their Dedicated Account exclusively through an application available from the website and through its ID and Password.
3.3 Trading Hours
With the exception of market close on Fridays at 2145hrs, transactions will only be allowed from 0200hrs to 2245hrs CET every day. All open positions will be closed after the end of the trading hours. Pending orders whose price is reached outside of trading hours will be automatically cancelled.
3.4 Authorized transactions
Participants will conduct transactions over six (6) currency pairs (EUR/USD, USD/CHF, USD/JPY, EUR/JPY, GBP/USD and EUR/GBP) (hereinafter referred to as “The Currencies”) as well as Gold and Silver ounces (hereinafter referred to as “The Metals”) against US Dollars (XAU/USD and XAG/USD) on the online transaction system. The ticket will be a minimum of one (1) unit of one (1) million for The Currencies, of one unit of one hundred and fifty (150) ounces for Gold (XAU/USD) and of one unit of nine thousand (9000) ounces for Silver (XAG/USD). Transactions on The Metals will be consuming five (5) times more margin as transactions on The Currencies. Each Participant will be entitled to a daily volume not exceeding EUR 50 million. TFC might from time to time increase the daily volume.
3.5 Available Balance
The Dedicated Account will be reset monthly with a balance of EUR 5,000,000.
5.1 Types of classification
Two types of classification will be drawn up: a monthly ranking with 15 winners each month during the 12 month competition period and a general ranking with 10 winners. From each of these two classifications the best positive six decimal percentage performances will be determined. In principle, only the first two decimal places are displayed. In the event of a tie, the winner will be determined by taking into account the following four decimal places.
5.2 Calculating the portfolio value
The value of each Dedicated Account will be converted each day at 2245hrs CET or 2145hrs CET on Fridays. The value of each Dedicated Account will be converted into Euros at applicable market rate(s).
5.3 Calculation and classification procedure
5.3.1 Monthly Ranking: A classification per month for 12 months (from September 2012 to August 2013) for the duration of The Forex Championship. Performance enables us to establish a monthly ranking as follows: (Balance on the account in Euro at the monthly close – EUR 5,000,000) / EUR 5,000,000.
5.3.2 General Ranking: Only one (1) classification by adding the performances of each Participant during the twelve (12) months of the The Forex Championship.
5.3.3 Best performance:
- Each month, the five (5) Participants with the best performance on one trading day will be awarded.
- Each day, the fifty (50) Participants with the best performance will be awarded.
6.1 Prize awarded
The prizes consist of FXMiles, which values are shown below and which the winners can exchange as explained in Article 6.3. Other awards/prizes may from time to time be distributed by TFC during the course of The Forex Championship.
6.1.1 Monthly Classification:
1st prize: 5,000 FXMiles will be awarded to the Participant with the best positive performance achieved over the month
2nd prize: 3,000 FXMiles will be awarded to the Participant with the second best positive performance achieved over the month
3rd prize: 2,000 FXMiles will be awarded to the Participant with the third best positive performance achieved over the month
4th to 15th prize: 1,000 FXMiles will be awarded to the Participants with the fourth to the fifteenth best positive performance achieved over the month
6.1.2 General Classification:
1st prize: 20,000 FXMiles will be awarded to the Participant with the best cumulative performance achieved over the 12 months of the The Forex Championship
2nd prize: 10,000 FXMiles will be awarded to the Participant with the second best cumulative performance achieved over the 12 months of the The Forex Championship
3rd prize: 6,000 FXMiles will be awarded to the Participant with the third best cumulative performance achieved over the 12 months of the The Forex Championship
4th to 10th prize: 2,000 FXMiles will be awarded to the Participants with the fourth to the tenth best cumulative performance achieved over the 12 months of the The Forex Championship
6.1.3 Daily best performance:
Each day, Participants achieving one of the fifty (50) best performance of the trading day will gain 50 FXMiles.
The Participant realizing the best performance on one (1) trading day during a month will gain 1000 FXMiles. The Participants realizing the second, third, fourth and fifth best performance on one (1) trading day during a month will gain 250 FXMiles (see Article 5.3.3)
6.2 Conditions of awarding and delivery of prizes
All monthly prizes will be confirmed at the end of each month (according to Article 5.1.) of The Forex Championship and will be transferred to the winners. The determination of winners and all decisions in relation to The Forex Championship shall be taken by TFC. All decisions taken by TFC related to The Forex Championship are final and cannot be challenged.
6.3 The FXMiles:
Each Participant is eligible to win FXMiles.
The FXMiles gained are not transferable. When 1000 FXMiles have been accumulated, a Participant has a maximum of 30 days to exchange them.
All FXMiles not exchanged by the end of The Forex Championship will be void.
6.4. Exchange of FXMiles
The FXMiles can only be exchanged by tranches of 1000, either against Free Margin on a trading account open with RTFX Ltd, or against a Gift Card.
6.4.1. The RTFX Trading account
1000 FXMiles can be exchanged against EUR 1,000 Free Margin. It is already made clear that the amount so made available to the winners does not belong to them but they can buy and sell currency pairs and withdraw only the capital gains realized, up to a maximum of 200% of the value of the prize(s). After a twelve month period starting from the attribution of the prize, the prize will be withdrawn. The account will be kept open if it shows capital gains. Potential losses will not be charged to the winner. The winners choosing this option to exchange FXMiles must first complete and submit to RTFX all documents necessary and required to open a real account and the documents certifying their identity within 30 days from winning the necessary FXMiles in order to be entitled to receive their prize. Failure to comply with these obligations will result in the loss of the right to receive the prize. In the event that a Participant wins multiple prizes, those prizes will be credited on the same account.
The prizes will only be credited to a Dedicated Account opened in the name of the winner. They are valid for a twelve month period starting from their attribution. They may not be replaced, or withdrawn in cash. Only any subsequent capital gains in excess of the prize amount credited to the account of the prize winner may be withdrawn, up to a maximum of 200% of the value of the prize(s). According to the provisions of Article 3.1. of the General Rules and Conditions of RTFX in the account opening documents of RTFX, requests for withdrawals of earnings are made by fax or letter identifying the account holder. Account holders are entitled to one free withdrawal every quarter. Additional withdrawals during the same quarter are possible but are subject to a processing fee. Prize winners that already have an account with RTFX must regroup their prizes to one single account which will fall under the rules set above.
6.4.2. The Gift Card
1,000 FXMiles can be exchanged against a Gift Card having a value of EUR 150. The FXMiles can be exchanged against a Gift Card valued at 15% (fifteen percent) of the value of the FXMiles within the 30 days validity of the FXMiles. The winners choosing this option to exchange FXMiles need to address their request by e-mail to firstname.lastname@example.org together with proof of address and identity. The Gift Card may be redeemed with online retailers subject to their terms and conditions. The Gift Card will be sent by e-mail at the winners’ address known by TFC.
US Residents can only exchange their FXMiles against Gift Cards. Residents and/or nationals of any country listed under international sanctions on the combat of money laundering and funding of terrorism can only exchange their FXMiles against Gift Cards.
TFC cannot be held responsible for any lost, late delivery, misdirected, poor delivery, incomplete, undelivered or illegible registration, transfer or e-mail. TFC cannot be held responsible for any delay in the receipt or transmission of orders caused by a failure or defect in transmission equipment or communication regardless of the circumstances affecting, disrupting, distorting The Forex Championship in any manner whatsoever, including but not limited to when receiving confirmation of registration, the transmission of orders, notification to the winner or the response to such notification. TFC may exclude the Participant in cases of suspected fraud or violation of the Regulations with no notice or justification from The Forex Championship; such Participant cannot claim anything.
Any information provided by advisory services
Any interruption of servers
Failure of equipment or telephone lines
Loss of data
The consequences of any virus or bug
Any technical failure that prevented or limited the opportunity to participate in The Forex Championship, especially in case of unavailabilityof one of the various features and services.
Legal recourse is excluded.