Contest Terms & Conditions
The Top Trader is a trading contest offered by ZFX to its Clients under the following Terms and Conditions and is available only to the Battle of The Top Traders; given that the eligibility and other requirements set out herein are satisfied.
1. Introduction
- The trading contest is available to all the company’s clients from Malaysia, Indonesia, Thailand, Vietnam, and MENA only.
- MENA is categorized as one region which includes the following countries only: Algeria, Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
- Clients with a country of residence or origin aside from the country listed above are not eligible to participate in this contest.
- The contest is open to both new and existing clients.
- To be eligible for participation, the client must have a trading account with the company, must have completed the age of 18 or the legal age applicable in his country of residence, and must have undergone document verification with Verified account status.
- Only one registration is allowed per client.
- The participant’s contest account cannot be enrolled in any other ZFX promotions during the entirety of the contest period.
- Winners will be selected by the company based on the finalized total return. Please refer to section 5.
2. Registration and Trading Period
- The contest registration and trading period are as follows:
| Registration Period | Trading Period |
|---|---|
| 12th September 2022 2nd October 2022 | Start: 25th September 2022, 11:00PM GMT+1 End: 9th October 2022, 9:00PM GMT+1 |
3. Qualification Criteria
- Contest registration must be done through the company’s dedicated Participation Form.
- Registration done via other channels that are not specified above will not be eligible for enrolment.
- Only New Live STP accounts with leverage up to 1:500 is eligible. Other account specifications will not be enrolled.
- Maximum applicable leverage is dependent on the total amount deposited as follows:
| Total Deposit | Leverage |
|---|---|
| Up to USD 200,000 | Up to 1:500 |
| USD 200,000 to USD 500,000 | Up to 1:200 |
| More than USD 500,000 | Up to 1:100 |
- Any trading activity made on the account prior to the contest will result in disqualification.
- Clients must ensure their account has been verified prior to contest enrolment.
- The total amount of funds from the first deposit will determine group categorization. Any subsequent deposit will not qualify the client into the second group. Please refer to the following for the minimum deposit requirements:
- Internal Transfer is allowed for this contest. However, any outward transfer from the contest account during the trading period will lead to disqualification.
- Clients are only allowed to participate once regardless of group categorization.
| Group Name | Min. First Deposit |
|---|---|
| Group A | $100 |
| Group B | $200 |
4. Trading rules
- Trading is permissible for all instruments offered by the company, including cryptocurrencies.
- Please take note that any trading upon stocks will only be counted towards performance but not volume contribution for the prize pool.
- For example, a Group A contest account with a net deposit of $100 that profited $50 from trading 2 lots (1 lot of forex pair and 1 lot of stocks) will yield 50% of the total return and a $2 contribution to the prize pool instead of $4 (Contribution of group A is $2 per lot).
- Clients are required to complete the minimum required lot and trading position to be eligible as a winner:
- Group A: 0.5 standard lot, minimum 5 closed trades
- Group B: 1 standard lot, minimum 10 closed trades
- The equity will be captured by end of the contest time and will be used for the final ranking of the contest, so if there are any open positions, they will be considered as well.
- Closure of position less than 2 minutes after opening may not be accounted for in the final trading volume.
- Withdrawal of funds is forbidden during the trading period. Any withdrawals made will lead to disqualification.
- Clients are allowed to use Expert Advisors (EA) during the contest period.
- Any form of arbitrage, cheating, deception, and/or abuse with pricing and/or quotes will be subject to disqualification.
- The company reserves the right to reject or disqualify the client from the contest without any form of explanation. Reasons for disqualification may include but are not limited to initiating a large volume of hedging positions of the same instrument in the different trading accounts at approximately the same time as well as manipulation of failures in quotes to obtain guaranteed profits.
5. Ranking and Winners
- The contest ranking will be calculated based on the client’s trading total return during the contest period.
- The company will follow the following formula for total return calculation:
Total Return = [(Equity-Total Deposit) / Total Deposit] x 100
- The result of the contest will be updated on the Ranking Page in the Leaderboard section.
- The company will choose the top 3 clients from each category following the conclusion of the contest.
6. Prizes
- The contest will deploy a dynamic prize pool system, based on trading volume per group:
- Group A: 1 trading lot will contribute US$2 to the prize pool.
- Group B: 1 trading lot will contribute US$4 to the prize pool.
- Contest prize is segregated into 4 categories:
- Top 3 participants based on the total return
- Top 3 participants based on trading volume
- Top participants based on region (Excluding top 3 participants based on total return)
- Lucky draw
- All prizes will be credited into the respective client’s account, whereby withdrawal will be permissible.
- In the event of two or more winners of the same rank in the same prize category, the prize will be shared equally.
- The company reserves the right to declare any prize already given as invalid and/or subject to cancellation upon direct or indirect evidence of attempted fraudulent activity within the prize pool.
- The prize breakdown for the contest is as follows:
- The top 3 clients based on total return per group will receive:
- 1st rank will receive 30% of the prize pool.
- 2nd rank will receive 15% of the prize pool.
- 3rd rank will receive 10% of the prize pool.
- The top 3 clients based on overall trading volume will receive:
- 1st rank will receive 5% of the prize pool.
- 2nd rank will receive 3% of the prize pool.
- 3rd rank will receive 2% of the prize pool.
- Lucky draw among all clients who participate in the contest will receive:
- 1st place will receive 5% of the prize pool.
- 2nd place will receive 3% of the prize pool.
- 3rd place will receive 2% of the prize pool.
- 1st rank of each region (Malaysia, Indonesia, Thailand, Vietnam, and MENA) per group will receive:
- 5% of the prize pool
7. Acknowledgments, Disqualifications, and Reservation of Rights
- By participating in this contest, you are agreeing to all the terms and conditions that are mentioned here in this document.
- The client also agrees to comply with the company’s terms and conditions, risk disclosure, privacy policy, and anti-money laundering policy.
- Likewise, all clients agree and consent to the company producing and using any photo and/or video content and are also obliged to provide the company with a testimonial if requested so by the company for marketing and/or public relations purposes.
- The client also agrees that the company has the right to use images and footage resulting from photography or video filming to only the extent stipulated in these Terms and Conditions.
- In the event whereby the company suspects or has reason to believe that a client has abused or attempted to abuse the contest, or any other offer presented by the company, the company reserves the right, at its sole discretion, to disqualify the client without notice.
- If there is an indication or suspicion, at the company’s sole discretion, that a client is committing any of the following: arbitrage (including but not limited to risk-free profiting); abuse (including but not limited to the client’s trading activity patterns) indicating a client solely aims to benefit financially from trading without being genuinely interested in trading in the markets or taking the market risk; fraud; manipulation; arbitrage connected to any other forms of deceitful or fraudulent activity of the client’s real trading accounts with the company or any and all transactions carried and profits or losses garnered therein, the company reserves the right to close or suspend (either temporarily or permanently) all trading accounts with the company, cancel all orders and all profits of such a client.
- The company reserves the right to alter, update, or cancel any terms and conditions of this contest without prior notice at any point in time during the contest period.
- The company is not responsible for any technical issues that may arise during the contest from the client’s end or third-party which affect the client’s ability to trade or participate in the contest.
- The English version of this document shall supersede, in the incidence of any discrepancy in terms of this contest, once translated into other languages.
