Terms and Conditions of "Win or Lose to Win $500" Contest
Two contestants with the highest and lowest results in pips will receive the prize of $500
First place – $500
Last Place – $500
The forex contest winners will be entitled to receive their prize only if they open a trading account.
The contestant can withdraw the prize at any time after it has been credited to their trading account.
Prizewinners are obligated to participate in PaxForex promotional events, interviews, photo essays, and public announcements on current promotions. PaxForex, however, is obligated to not mention any personal data (including full names) of any contestants without their consent.
If two or more contestants finish with the same results, the tie will be broken in favor of the contestant who had the higher amount of equity at the beginning of the contest.
PaxForex will publish the results of the contest on its website within 96 hours of the end of a contest round (the contestants' transaction register).
Preliminary results are subject to appeal for 24 hours after the end of the contest round, after which they become final and cannot be appealed.
Winners must request to have their prize credited to their account within 7 days after the end of the round.
Prizes will be credited within 30 days of the end of the round.
Traded Financial Instruments
Traders, who take part in the “Win or Lose to win $500” contest will be able to trade all of the financial instruments available in the PaxForex Trading platform except:
PaxForex reserves the right to add or remove financial instruments at any time of the contest period without prior notice.
PaxForex does not distribute dividends to the contestants’ trading accounts, neither does it reflect stock splits, mergers, de-mergers or other events related either to capital raise or reduction of the certain companies whose shares are the underlying asset of the traded CFDs.
The Contest lasts one month.
The round begins on first Monday of the month at 00:00 (Server time GMT+2), and ends on last Saturday of the moth at 00:00 (Server time GMT+2).
Registration for a round is open during the round itself
The minimum deposit on a contest account is: 10 USD
To participate in each next contest, the contestant must make deposit.
All prospective contestants need to register for a "Cent" or “Mini Trading Account”. To join the Forex Contest, choose the available account, and tick the box “I accept terms and conditions of forex contest”.
Note: In order to change any personal information that you entered incorrectly during registration, you will need to send a scan of your passport/ID (two-page spread with photo) to firstname.lastname@example.org. Please include in your email the errors you would like to correct. You can change your personal information up to two weeks after registration.
You may register for the contest from the PaxForex cabinet on the Company website.
Contest participation is open to any PaxForex client.
Contest participation is not open to PaxForex employees or their relatives.
Accounts open to legal entities are not eligible to take part in the contest.
If you are already registered in the cabinet but do not have an account eligible for entry into the contest, you can head to the section “Open an Account” within the cabinet. You can then select an appropriate account and then tick the checkbox to confirm that you agree to the terms of the contest.
You may only enter a trading account that is not currently being used for other PaxForex trading.
PaxForex is obliged to keep all information about the contestants confidential. Thus, only the Account number, country, and profit of each contestant is published in the rankings.
After successfully completing registration, your account will be added to the list of accounts participating in the contest.
You should read these rules carefully and adhere to them during the contest. Ignorance of the rules will not be considered legitimate grounds for a complaint.
You may open positions of any size (within the bounds of the free margin on the trading account and any restrictions that exist for the type of account you are using).
All transactions must be made in accordance with PaxForex "Terms of Business" and other related documents.
The Prize is credited to the winner's trading account in the respective base currency of that account. Should the account’s currency be different from USD, the prize amount shall be converted into the currency of the account at the exchange rate provided by PaxForex.
The final results of each round are not subject to revision.
PaxForex has the right to modify the terms and conditions of the contest at all times and any such modifications will be posted on the company’s website.
Complaints and Disputes
All complaints that arise during the contest which is associated with operations on a trading account are reviewed in accordance with the "Terms of Business".
Complaints arising in connection with the results of a round or the contest as a whole should be sent to email@example.com with the subject "Win Or Lose and Get $500". Complaints sent by another method will not be accepted.
Contestants who wish to dispute their rating should demonstrate how the rating was calculated improperly and must also send their version.
The Contest Administration has the right to reject a complaint if it does not conform to the terms specified in current clauses (Two above points)
In any disputes, the Contest Administration will be the sole authority to make final decisions based on common market practice.
Abuse or manipulation of the contest rules may result in a warning or if deemed necessary, disqualification from the contest.
The Contest Administration has the right to suspend or terminate the contest if a situation arises where the conditions are unfair for most contestants.
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.).
In the case of suspension or termination of the contest, 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.
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.