The GFT Trading Challenge Terms & Conditions
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CONTEST ELIGIBILITY
The contest is open to new and existing self-directed accounts of Global Futures & Forex, Ltd. or its subsidiaries (GFT). Employees of GFT, their relatives, employees of competitors (as determined by GFT at its sole discretion) or employees of referring parties are not eligible to participate.
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CONTEST TRADING PERIOD:
The contest will begin at 5 p.m. ET on 7 Feb. 2010 and will end at 5 p.m. ET on 30 April 2010. New and existing customers have until 5 p.m. ET on 31 March 2010 to enter. Open positions need not be liquidated for purposes of determining the winners. The percentage gain will be based on the Total Ending Equity (account equity balance as of 30 April 2010 at 5 p.m. ET) plus subsequent customer deposits.
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CONTEST TRADING ACCOUNTS:
Forex and CFD accounts that meet the minimum total beginning equity requirement between 5 p.m. ET on 5 Feb. 2010 and 5 p.m. ET on 31 March 2010 will be automatically entered into the contest. See the minimum total beginning equity requirement per currency in the table below:
| Currency |
Minimum |
| USD |
2,500 |
| GBP |
1,500 |
| AUD |
3,500 |
| JPY |
300,000 |
| SGD |
3,500 |
| EUR |
1,500 |
| CAD |
2,500 |
| CHF |
2,500 |
| PLN |
7,000 |
The total equity (including floating profits and losses) in the account at 5 p.m. ET on 5 Feb. 2010, or at the time of entry into the contest, will be considered the Total Beginning Equity. Withdrawing or transferring funds to another account during the duration of the contest will disqualify you from the contest. Your account will not be disqualified for falling below US$2,500 during the contest as long as you’ve abided by all terms and conditions.
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CONTEST TRADING REGULATIONS:
Contest participants must place a minimum of 20 trades every 30 calendar days for the duration they are in the contest. For any period that is shorter than 30 calendar days, the required number of trades will be prorated accordingly. A trade is defined as any order that results in the opening or closing of a position (not including roll) with a 100,000 lot size for forex OR the equivalent volume for other forex lot sizes, and US$10,000 notional value for CFDs. Working orders do not count as trades. Failure to comply with this rule will result in disqualification.
For example: if you opened a 10-lot trade (lot size of 100,000), then closed 5 lots, that would count as 15 trades. If you opened a 10-lot trade (lot size of 10,000), then closed 5 lots, that would count as 1.5 trades.
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DETERMINATION OF THE WINNERS:
The contest winners will be determined by the highest percentage gain. The percentage gain will be based on the Total Ending Equity compared to the Total Beginning Equity plus subsequent deposits. All results to determine ending prizes at the conclusion of trading will be adjusted for customer deposits made during the competition.
For example: A contestant who had US$2,500 in Total Beginning Equity when they entered the contest made deposits of US$7,500 during the contest. At the end of the contest, the contestant's Total Ending Equity was US$25,000. The contestant’s percentage gain would be 150%, which would be calculated as:
So, in this particular case,
US$50,000 Cash Prize Terms & Conditions (1st Prize)
The winner is defined as the trader who has the highest percentage of gain on 30 April 2010 at 5 p.m. ET AND has met all of The GFT Trading Challenge Terms & Conditions. The winner will be announced by 10 May 2010.
US$25,000 Cash Prize Terms & Conditions (2nd Prize)
The winner is defined as the trader who has the 2nd highest percentage of profit on 30 April 2010 at 5 p.m. ET AND has met all of The GFT Trading Challenge Terms & Conditions. The winner will be announced by 10 May 2010.
US$10,000 Cash Prize Terms & Conditions (3rd Prize)
The winner is defined as the trader who has the 3rd highest percentage of profit on 30 April 2010 at 5 p.m. ET AND has met all of The GFT Trading Challenge Terms & Conditions. The winner will be announced by 10 May 2010.
Account Package Upgrade Terms & Conditions (4th & 5th Prize)
The winners are defined as the traders with the 4th and 5th highest percentage of profit on 30 April 2010 at 5 p.m. ET AND have met all of The GFT Trading Challenge Terms & Conditions. The winners will be upgraded to Gold account package status for one year. Winners who already have Gold account package status will be upgraded to Platinum account package status for one year. Winners who already have Platinum account package status will be awarded an iPod Touch (valued at US$199). The winners will be announced by 10 May 2010.
Featured prizes may be substituted with prizes of equal value at GFT's sole discretion.
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DISENTITLEMENT:
GFT has sole discretion to disqualify any Entrant found in violation of the rules of the contest or applying inappropriate trading strategies. Withdrawing or transferring funds from the account is grounds for disqualification. Your account will not be disqualified for falling below the minimum total equity requirement during the contest as long as you’ve abided by all terms and conditions.
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TAXES:
GFT makes no representations concerning the tax implications or treatment of the prize winnings. If the customer is in any doubt about the prize winnings, the customer should consult its own business, legal, tax, accounting and other advisers with respect to the prize winnings.
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COMMUNICATION DELAYS
GFT shall not be responsible for any delays in the acceptance or transmission of orders due to a breakdown or failure of transmission or communication facilities, or for any other cause beyond their reasonable control or anticipation. GFT shall not be responsible for errors, omissions or dealys in contest information including but not limited to leader board updates (i.e. deposits/withdrawals) or any other communication to the contestant.
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POSTPONEMENT OR CANCELLATION
GFT reserves the right to change the terms and conditions, extend the trading period, or cancel the contest if GFT, in it its sole discretion, determines that such action is reasonable or necessary. GFT, in its sole discretion, may reject any Entrant's account application for any reason.
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CONTEST OPT OUT
Eligible traders are not required to participate in the trading contest. Traders can choose to opt out from the contest at any time prior, during and after the contest. Without opting out, you are subject to the contest rules. The decision to opt out is final. To opt out, please click here.
If you have any questions about the terms and conditions for the GFT Trading Challenge, start a live text chat or email us at info@gftasia.com.
CD01S.254.020510
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