Registration for the contest has ended!
To see the live results, Click Here.
To see the live results, Click Here.
Contest RulesMaxFX is a tradename of TopFX Ltd, which is registered as a Cyprus Investment Firm (CIF) and licensed by the Cyprus Securities and Exchange Commission (CySEC) under licence number 138/11 in accordance with the Markets in Financial Instruments Directive (MiFID).
Withdrawal of Prizes Policy
Please Note: You need a Myfxbook Account to register for this Contest. If you are already registered with MaxFX, Please contact [email protected] and ask to enter the contest.
- The Contest starts on 1st of March until 1st of April 2016.
- Registration for the Contest ends on 15th of March 2016.
- Registration for this Contest and/or entry in the Contest constitutes your agreement to the Terms & Conditions set herein and you will not be eligible for the prize unless you agree to these Terms.
- To participate in this Contest the Client needs to register an account with MaxFX, submit the identification documents (Passport/ID and Proof of Residence) and fund his/her account. Once the verification of the identification documents will be held, the Client will be able to start trading for this Contest.
- MaxFX reserves the right to refuse any person as an entrant.
- The Contest is applicable, irrespective of the number of trading accounts that may be opened by a client with MaxFX, which such client’s first Minimum Deposit is made. The minimum deposit is 500 USD for every trading account that an entrant may have.
- Throughout the Contest the leverage by default for each entrant will be 1:500. However the Company reserves the right to change the leverage of an entrant due to the risk management policy of the Company.
- The Clients will receive raw spreads and the commissions that will apply are $2 per side, $4 per lot.
- Scalping, News Trading and use of Expert Advisors are allowed.
- Contest participants can withdraw or deposit funds at any point in time during the Contest as per the Company’s policy and procedure.
- Participants can continue trading after the Contest ends, however any Profit and Loss achieved after the Contest period will not be used for the purpose of defining the Contest winners.
- Participation to the contest means that contest participants consent to publishing their trading history and/or activity. MaxFX will not publish any personal information of the participants.
- Participants can choose to opt out of the Contest before and during the Contest. Opting out disqualifies you immediately from the Contest.
- MaxFX has the right to disqualify participants if:
- In case where breach of these Terms and Conditions occurs;
- The Company has reasonable grounds to believe a misuse of the Contest;
- Client withdraws any amount of initial and/or any subsequent deposits without trading activity.
- MaxFX reserves the right, as it in its sole discretion deems fit, to alter, amend, suspend, cancel or terminate the Contest, or any aspect of the Contest, at any time. Under no circumstances shall MaxFX be liable for any consequences of any alteration, amendment, suspension, cancelation or termination of the Contest.
- Any indication or suspicion of fraud, manipulation, cash-back arbitrage, or other forms of deceitful or fraudulent activity in a client’s account or multiple accounts with MaxFX or otherwise related or connected to the contest will nullify any and all transactions carried and/or profits or losses gained therein. MaxFX reserves the right, at its sole discretion, to disqualify any individual that misuses or attempts to misuse the Contest, or breaches the present Terms and Conditions and/or any of MaxFX Business Terms and to cancel all orders and annul all profits of such client. In these circumstances, MaxFX shall not be liable for any consequences of the abovementioned cancelation.
- In the event of any dispute or misinterpretation of the above applicable Terms and Conditions, such dispute or misinterpretation shall be resolved as MaxFX acting in good faith and as it shall, in its sole and absolute discretion, deem fit and proper. MaxFX’s decision shall be final and binding.
- By participating in the Contest, the Client acknowledges that he/she has read and agreed to be bound by the Terms and Conditions of the Contest together with MaxFX’s standard Customer Agreement and Policies as well as to all other Business terms and conditions.
- Jurisdiction: Entrants agree that this Contest is subject to and governed by the Laws of the Republic of Cyprus.
- MaxFX does not offer its services to residents/citizens of certain jurisdictions such as: United States of America, the Islamic Republic of Iran and North Korea.
- The Client cannot request/open a swap free account for the purpose of this Contest
- Notwithstanding the translated language of this document, the English wording shall be the binding version in the event of any discrepancy between the two languages.
- The total prize fund of the Contest is $10,000 which will be divided as follows:
- 1st Prize equals to $6,000 funded in the Client’s MaxFX live account
- 2nd Prize equals to $3,000 funded in the Client’s MaxFX live account
- 3rd Prize equals to $1,000 funded in the Client’s MaxFX live account
- The 3 Contest winners are those participants with the highest Time Weighted Return (TWR) including any floating P&L/ during the abovementioned period of the Contest. The below formula will be used in this Contest in order to define the three winners.
The winners will be defined, at the end of Contest, by their floating P&L using the TWR formula, and these are Clients who will be situated in the first three positions of the score board of the Contest. The score board of the Contest will be live and it will be displayed in MaxFX website and to myfxbook.com. Example: A participant made several deposits amount to $1500 and its realized P&L is $600. The Client did 4 trades with $150 Profit each time. The starting balance of the client was $1000. Balance was at trade (1) $1000, (2) $1150, (3) $1800, (4) $1950, ending a total balance of $2100. Between the trades (2) and (3) has been a deposit of $500. Using the TWR formula we have the following result: ((150/1000+1)×(150/1150+1)×(150/1800+1)×(150/1950+1)-1)×100= =((1.15×1.130×1.083×1.077)-1)×100= 51.57% The first three Clients with the highest percentage of return will receive the abovementioned prices. In the case of two or more contest winners having equal percentages at the end of the Contest, they will share the prize equally. The Client’s MaxFX live account will be funded within 5 business days of the prize notification. Prizes are non-transferable and no cash alternative is available. No prize transfer, assignment or substitution by winners is permitted. By participating to this Contest you agree that anyone from MaxFX may contact me via email or by phone with information regarding products and services and to help you with procedures such as opening an account and submitting documents. Prize Notification: Prize winners will be notified by e-mail. In the event that the selected winner (s) of any prize is/are ineligible, cannot be traced or does not respond within ten (10) calendar days or rejects the prize, MaxFX in its sole discretion, may choose whether to award the prize to another participant.
Withdrawal of Prizes Policy
- Funds deposited by MaxFX as a Prize can be withdrawn any time after the completion of the Contest.
- In case you request a Withdrawal before the end of the Contest, your eligibility for the Contest will be disqualified and cancelled.
Contents and prizes offered should not be considered as an incentive to trade. Only partake in the trading contests when you feel you ready to trade.