These Terms and Conditions apply to ForexCup Trading Championship 2021, organized by FXOpen Investments Limited and sponsored by the companies operating under the FXOpen trademark. By participating in the Championship, you accept these Terms and Conditions described below.
1.1. Championship - ForexCup Trading Championship 2021.
1.2. Championship Period – from January 1st 2021 up to December 31st 2021 year.
1.3. Championship Provider – FXOpen Investments Inc., (reg. No. 702638), a company duly incorporated in Panama with its registered address at Plaza 2000, 10th floor, 50th street, Panama, Republic of Panama.
1.4. Account – Participant’s verified FXOpen ECN, PAMM ECN (Master) account registered on one of the derivatives issuers providing the services under the “FXOpen” trademark, also referred to as “FXOpen”.
1.5. FXOpen (also “CFD Issuer”) –
1.5.1. FXOpen AU Pty Ltd (reg. No ABN 61 143 678 719), a company duly incorporated in Australia with its registered address at Level 25 108 St Georges Terrace Perth WA 6000 Australia, authorized and regulated by the Australian Securities & Investments Commission (ASIC) AFSL 412871, providing services through www.fxopen.com.au;
1.5.2. FXOpen Ltd. (reg. No 07273392 ), a company duly incorporated in the United Kingdom with its registered address at 2nd Floor Waverley House, 7-12 Noel Street, London, United Kingdom, W1F 8GQ, authorized and regulated by the Financial Conduct Authority under FCA firm reference number 579202, providing services through www.fxopen.co.uk;
1.5.3. FXOpen EU Ltd. (reg. No HE 310300), a company duly incorporated in the Republic of Cyprus with its registered address at 38 Spyrou Kyprianou Street, CCS BLDG - Office N101, 4154 Limassol, Cyprus, authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 194/13, providing services through www.fxopen.eu;
1.5.4. FXOpen Markets Limited (reg. No. C42235), a company duly incorporated in Nevis with its registered address at P.O. Box 590, Springates East, Government Road, Charlestown, Nevis. Member of The Financial Commission. Providing services through www.fxopen.com.
1.6. Minimum deposit – a required minimum amount of own funds to be deposited in the Account in an amount of 5000 USD or its equivalent.
1.7. Daily Profit is calculated as follows: Equity current (excluding all balance transactions during the day) - Equity previous = Daily Profit Value
1.8. Daily Gain is calculated using the following formula: Daily Profit / Equity previous * 100 = Daily Gain Value
1.9. Total Gain is calculated using the following formula: ((Total Gain previous + 1) * (Daily Gain + 1) - 1) * 100 = Total Gain Value
1.10. Participant (also “You”, “Your”) – a participant of the Championship, who meets requirements described in these Terms.
1.11. Terms and Conditions – these Terms and Conditions.
1.12. Website – www.forexcup.com
2. Participation Requirements
2.1. You have the right to participate in the Championship subject to meeting the following requirements:
(i) You have reached 18 years old or other legal age applicable in your residence country (but not less than 18 years old). Participation of US residents in the Championship is forbidden;
(ii) You are the client of FXOpen and you hold an active ECN, PAMM ECN (Master) Account;
(iii) You made a minimum deposit in your account. Additional funds can be deposited in your account at any time within the Championship Period.
(iv) You accepted these Terms;
(v) You sent a request for registration of your account(s) in the Championship to [email protected]
2.2. Championship Provider reserves the right in its sole discretion to accept or decline a registration of any Participant in the Championship.
2.3. Participant and Participant’s Account(s) should be registered by the Championship Provider.
3. General Terms
3.1. Participant may register to the Championship up to the last day of the Championship Period.
3.2. Subject to the Championship Provider’s special decision the Participant may register more than one Account for the Championship if the Participant is using different trading strategies and/or there are no attempts by the Participant to manipulate the Championship process and/or results.
3.3. Trading must be conducted in the Participant’s Account(s). A minimum of ten (10) round-turn trades of any contract number, per account, must be placed during the Championship Period in order for the Participant to qualify for a Championship Award.
3.4. The winner of the Championship is the Participant which received the largest Total Gain during the Championship Period.
3.5. All open positions on the Participant’s Account shall be closed for purposes of determining winners of the Championship prior to 21:59 of the 31st of December 2021 (GMT). Should the Participant fail to close any open positions as specified in this document, the Championship Provider shall calculate the financial result of such positions in its sole and absolute discretion subject to the prices and liquidity available in the respective FXOpen trading platform at the time of the position closure.
3.6. The results of the completed Championship cannot be revised.
3.7. Championship The Provider has the right to solely amend, interpret or waive any rule or terms if such actions are undertaking in the best interests of the Championship.
3.8. The Championship Provider has the right in its sole discretion and at any moment it deems fit to disqualify the Participant, shall the Championship Provider and/or FXOpen determine that the Participant violates the agreement with FXOpen, and/or is engaging or has engaged in using trading strategies or activities designed intentionally to exploit errors, bugs, loopholes in price quotations, order execution, statement generation, charging of fees and commissions, funds transfer and/or other delays, disruption, failure or malfunction of any software, hardware, transmission or communication system or software.
4. Trading Terms
4.1. The Participant agrees to comply with terms and rules of the specific Account type as specified by FXOpen and its other applicable rules and regulations. Please refer to the specific FXOpen Trading Terms for ECN Accounts as provided by FXOpen on the respective websites.
4.2. The list of instruments as specified by trading on an FXOpen ECN Account (among them FX Spot, Metals CFD, Index CFD, Commodities CFD, Stocks & ETFs CFD, Crypto CFD). Crypto CFDs are not available to trade in all jurisdictions.
4.3. Withdrawals from the Accounts participating in the Championship shall be processed as usual, subject to the Account and the Participant is compliant with requirements and terms of the specific type of the Account and applicable law.
4.4. All transfers, withdrawals, deposits connected with the Account and trading during the Championship are subject to charges as determined by FXOpen’s terms. In case of any errors in order placement or execution, the Championship Provider makes a final decision in accordance with these Terms.
4.5. The Participant acknowledges and agrees that the Championship Provider has the sole right to disqualify the Account of the Participant, which during the Championship attempted to benefit from any collusive or other trading irregularity or attempted to violate or violated any law or governing this Championship rule or regulation.
5.1. At the end of the Championship, the top 3 profitable Participants receive a Crystal trophy. Awards are specified on the Website.
5.2. The Winner receives 50 000 USD.
5.3.Results of the Championship will be proclaimed on the Website.
5.4.All money awards from the Championship are withdrawable to the personal bank or payment account of the Participant.
5.5. If the Participant, who takes an award-place, breached these Terms, regulating terms of the Account or any other applicable to this Championship rules, such Participant will be disqualified and Championship Provider has the right to void an award.
5.6. Winners of the Championship are solely responsible for any taxation or charges on awards.
6.1. The Participant gives an authorization to the Championship Provider without any recourse or compensation to:
(i) obtain information about his Account’s transactions records; his Account activity and other information (including. but without limitation, Account’s number); name and surname; email and other details of the participation in the Championship in order to run a Championship, monitoring activity and transfer a prize payout to the winners;
(ii) show and announce publically the Participant’s name and surname, residence country, photo, Account number, trading results and other details of the participation in the Championship on the Website or any other publication for declaring the results of the Championship;
(iii) Interview the Participants to create video, audio and other content with the Participants, publish interviews and content on the Website, FXOpen resources, and social media or in any other place for promotional purposes. The interview, audio, video, text and other materials created by the Championship Provider in respect to the Championship shall belong to the Championship Provider and is its intellectual property irrespective whether it contain references to, images, videos of the Participant or not.
6.2. All personal information during the Championship obtaining and processing by the FXOpen and Championship Provider are treating in accordance with General Data Protection Regulation (EU) 2016/670 (“GDPR”) and other applicable in your residence country personal data protection laws.
The Participant represents that he/she is of legal age and in its residence country is allowed to open an Account and participate in the Championship. The Participant represents that he and his account are complying with the applicable law and obtained all necessary licenses and authorizations (if required by applicable law) to participate in this Championship.
8.1. The Participant agrees to indemnify FXOpen and the Championship Provider and their affiliates, employees and hold harmless from any claim, demand, expenses or costs (including legal fees, fines or penalties) incurred or suffered due to or arising out of Participant’s actions.
8.2. Neither the Championship Provider nor FXOpen shall not be responsible for any direct or indirect damage or loss, incurred by the Participant, during the Championship and for the results of the Championship.
8.3. FXOpen shall not be responsible for any delays or failures in the acceptance or transmission of orders due to any failure of transmission, computers (software or hardware) or any other event that is beyond FXOpen’s reasonable control.
9.1. In the event of any dispute or misinterpretation of these Terms or the Championship, the Championship Provider shall resolve such disputes or misinterpretations and shall act in good faith and deem fit and proper. The Championship Provider’s decision is final.
9.2. Championship Provider reserves the right to change the Championship period or any other detail or aspect of the Championship and suspend, postpone or cease the Championship at any time and at its sole discretion. Any changes shall be posted on the Championship Provider’s website and from the moment of such change notification posted on the Championship Provider’s website it is considered that the Participant accepted such changes. The Participant agrees that FXOpen or the Championship Provider is not liable under any circumstances for any consequences of changes of the Championship.
9.3. In the event of translation of these Terms, the English version shall prevail under any other translated Terms to another language.
9.4. This Terms and the disputes arising from the Championship shall be governed by and enforced in all respects by the laws of Panama.