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Upcoming Contest Q&A

Staff (Staff)
Aug 16 2011 at 09:03
1389 posts
Hi Everyone,

If you have any questions regarding the upcoming contest, feel free to post it here - Chris Reynolds, GO Market's Director of Operations will be answering your questions.

Chris, first few questions are:

- Is this open to USA residents?
- Is 100:1 leverage available to all?
- Are your live accounts available to US residents?

Thanks!

reynoldscj (reynoldscj)
Aug 17 2011 at 00:42
10 posts
Hi everyone!

Yes this contest is open to everyone including US resident. However please consider that the prize of GO Markets funded live accounts may not be provided to those who are ineligible to open a new account with GO Markets. As US clients will not be approved to open an account for regulatory reasons, they will not be able to receive the live account prize. However, GO Markets will provide a cash prize of half the value of the live account prize won if a winner is not able to be approved for a new live account. I.e. for a 1st Place winner (prize: live account funded with $2,500) a cash prize of $1,250 will be provided.

The competition gives everyone a demo account with 100:1 leverage. GO Markets live account holders can get leverage up to 500:1.

Unfortunately we are not able to accept clients from the US. Since the rather annoying CFTC regulations came in last year our hands have been tied...

If you have any questions, please let me know!

Thanks,
Chris

zzzero
Aug 17 2011 at 01:49
1367 posts
wouldn't it be more fair if everybody in a contest played the same leverage and account balance?


reynoldscj (reynoldscj)
Aug 17 2011 at 01:52
10 posts
Sorry, perhaps I wasn't clear.

Everyone in the contest gets the same balance (50,000) and the same leverage (100:1).

I was saying that we offer up to 500:1 leverage on live accounts.

Thanks,
Chris

zzzero
Aug 17 2011 at 02:07
1367 posts
how about posting a link directly here in this thread that points to the contest rules/info/etc..


reynoldscj (reynoldscj)
Aug 17 2011 at 02:08
10 posts
I thought that seeing as myfxbook had started this thread it was being pointed to from somewhere which would have had all the rules... obviously not!

Here you go: https://www.myfxbook.com/contests/trading-championship-september-2011/5/rules

zzzero
Aug 17 2011 at 02:13
1367 posts
thank you for the link.

one final issue... when i am trading, i like to wrap my head in tinfoil... it keeps those pesky alien radio waves from confusing me.

will you be supplying rolls of tin foil for this contest or should i bring my own?



reynoldscj (reynoldscj)
Aug 17 2011 at 02:18
10 posts
Yes, of course... feel free to drop into the office and we will even wrap it for you.

horse1bun (horse1bun)
Aug 17 2011 at 02:22
70 posts
I have a question, what is the margin % required in this demo contest?
In other words, last contest the broker margin closed at <100% margin.

And I bet you wanted to say 'in the unlikely event someone from USA should win, they get half the prize money'
Now I know I may not be as smart as some of the Ukrainians on this forum, I still gotta try, ney?

and btw zero is a smarty pants. you can get rules by clicking the headline link 'contest'. 😝

go with the flow; just be on the right end of the wave
zzzero
Aug 17 2011 at 02:29
1367 posts
hello.

i dont do contests, cuz i am a dork, but just to clarify one issue regarding the prize issue...

the prize will be a funded account? for which funds can only be withdrawn after thirty days?

so, if the winner wanted to just leave the awarded account idle for thirty days and then just withdraw the funds, are there any restrictions that the contest players might want to be aware of?

thank you.


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