TERMS AND CONDITIONS - XM CONTESTS

Transcription

1

2 TERMS AND CONDITIONS - XM CONTESTS 1. Introduction: 1.1. XM is a registered trademark of Trading Point of Financial Instruments Ltd, a Cypriot Investment Firm (CIF) registered wi e Registrar of Companies in Nicosia under e Number HE and regulated by e Cyprus Securities and Exchange Commission (CySEC) under e License Number 120/10 (hereinafter XM ) XM is operating in accordance wi e Directive 2004/39/EC of e European Parliament and of e Council of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of e European Parliament and of e Council and repealing Council Directive 93/22/EEC, as e same may be in force from time to time and modified or amended from time to time (e Markets in Financial Instruments Directive (2004/39/EC) or MiFID ) XM is offering its clients e opportunity to participate in Forex Contests giving out cash prizes, as from time to time specified on XM s website, each wi no risk and no entry fee (e Contests ). 2. Terms and Conditions and Eligibility: 2.1. Subject to, and wiout prejudice to, all oer Business Terms and Policies, e Contests are available to XM Clients who have satisfied e Eligibility Criteria for e Contests as set out in e sections following hereinafter All clients who have a validated Real Account wi XM and have accepted e Contest s terms and conditions have e right to participate in e Contests (hereinafter e Contestants or Eligible Clients ) Information about e launching and ending of each Contest will be available at e XM s website Clients may register to a Contest up to ree (3) weeks prior its commencement, or oerwise specified by XM. Late registration is also possible subject to XM s approval Contest participation is not open to XM s employees or eir relatives One registration equates to one client, as e consideration is based on a per client and not on a per account basis.

3 2.7. Contestants must register eir desired unique contests nickname from wiin e Members Area, which cannot be used by any oer Contestants. The nickname registered will be e Contestants alias in e Contests rankings Following registration to a Contest, Contestants specific credentials for e Contests will be sent to e registered address provided, and Contestants shall be provided wi an amount of contest credit units, as ese are from time to time defined by XM (i.e. 15 contest dollars). The contestant credit units will be used in order for e Contestants to be able to register to e Contests (i.e. buy-in). The amount required for participation for each Contest will be specified on XM s website Upon registration to e Contests, Contestants shall be provided wi a certain amount of virtual money, as specified by XM for each particular Contest, to be used for e Contests During e course of e Contests, e Contestants may be given e option to acquire more virtual money by using eir available contestant credit units (i.e. top-up option) Contestants are allowed to use e option mentioned in point 2.10, provided ey have sufficient contest credit units All prizes from e Contests are widrawable The winners will be determined by eir balance upon e ending of each Contest. The Contestants who will be ranked among e first top 90 Contestants wi e highest balance will share e prizes as described in point 4.1 below All positions at are open at e time e Contests end will be automatically closed. 3. General Contests Terms: 3.1. All Contests accounts are opened in USD currency by default and are set to standard accounts by default By accepting e Contests terms and conditions, e Contestants acknowledge e Risk Disclosure available on XM s website at e following URL: Contestants must be older an 18 years old and shall already have a validated Real Account registered wi a valid address and a unique nickname Contestants will be trading from e Contest webtrader platform provided by XM.

4 3.5. Each Contest may require a minimum number of Contestants in order to begin, as from time to time may be specified by XM Each Contest will specify e financial instruments available for trading as well as e maximum and minimum leverage level The leverage level for major pairs of certain financial instruments, as ese are from time to time specified by XM, will be determined by XM. Half of at leverage level will be offered for minor pairs and oer commodities, as ese are from time to time specified by XM Hedging is allowed during e course of e Contests. However, a minimum margin level may be required for all hedged positions, as specified by XM Scalping is allowed during e course of e Contests. 4. Prizes: 4.1. Each Contest prize pool will be USD 5,000 and it will be distributed as described in e table below: Ranking Position Winners of Prize Amount Cumulative Prize Amount paid to Winners st 1 USD 1,150 USD 1,150 nd 2 USD 725 USD 1,875 rd 3 USD 550 USD 2,425 4 USD 430 USD 2,855 USD 320 USD 3, USD 220 USD 3,395 7 USD 150 USD 3,545 8 USD 100 USD 3,645 9 USD 80 USD 3, to 12 USD 46 each USD 3, to 15 USD 36 each USD 3,971

5 16 to 18 USD 25 each USD 4, to 27 USD 19 each USD 4, to 36 USD 17 each USD 4, to 45 USD 15 each USD 4, to 54 USD 13 each USD 4, rd to 63 USD 12 each USD 4, nd to 72 USD 11 each USD 4, rd st to 81 USD 10 each USD 4, nd to 90 USD 9 each USD 5, Contestants will be informed about e winners of e Contest following e ending of e Contest. The prize amount will be credited into e winners XM Real Account used to register in e Contests after e end of e Contest. 5. Reservation of Rights and Disqualifications: 5.1. XM reserves e right to disqualify any Contestants if ey engage in any prohibited trading activities, as described in Section 53 of XM s Terms and Conditions of Business, available at e following URL: XM also reserves e right to disqualify any Contestants if: a breach of ese terms and conditions and/or any of e Company s Business Terms and Policies occurs; e Contestant provided incorrect or fraudulent details during e registration for e contest; e same IP address is used by two or more Contestants or uses anonymous HTTP/socks proxy-servers for trading in e Contests; e Contestant uses a dynamic IP address, in which e IP address changes instantly during e time e contestant is connected to e internet; Disqualified participants will lose eir right to claim prizes.