I. General Provisions
1. The name of the contest is One Million Option (hereinafter - "Contest").
2. The Contest is held by InstaFintech Group (hereinafter - "Organizer").
3. The Contest is held every week from 00:10 Monday to 23:50 Friday (terminal time).
4. The prize pool of each Contest step amounts to USD 1500 distributed among the winners according in the following way:
- 1 place - USD 500;
- 2 place - USD 400;
- 3 place - USD 300;
- 4 place - USD 200;
- 5 place - USD 100.
5. You can register for the next weekly contest during the whole week preceding it. Registration finishes 1 (one) hour before the contest starts.
6. The resulting data is recorded at 12:00 on Saturday.
II. Participants
1. Every holder of a trading account with InstaSpot Company can take part in the Contest (hereinafter - "Participant").
2. The Contest is available only for customers who are over 18 years old.
3. Every Participant has to register for the new Contest step on the Organizer's website.
4. The Participant is opened a new DEMO account for every step of the Contest.
5. The Participant agrees to provide true data including the full name identical to the one specified in the identification document and available email address.
6. In case of detecting activity from two or more accounts with the same IP address, the administration can disqualify their owner. In this context, we strongly recommend avoiding GPRS and 3G modems.
7. The Organizer reserves the right to decline registration of any participant without explaining the reason or disqualify any participant during the Contest or after the Contest finishes with the explanation. The reason of disqualifying can include opening the big volume opposite orders with the same currency pairs in different trading accounts at the same time approximately, as well as usage of failures in the quote flow for getting guaranteed profit.
8. Registering for the contest, the Participant accepts all the restrictions and rules of the Contest.
9. Participation of close relatives in the same contest is prohibited. If registration data of two Participants coincide, the Organizer reserves the right to regard this matching as a reason for disqualification.III. Trading Conditions
1. After registration for the Contest is completed, the Participant is opened a DEMO trading account.
2. The initial rating of every Participant is 1000 points.
3. The Participant buys call or put option on any instrument he is provided with. The Participant sets the time of opening and closing an option. The MetaTrader platform is not available for trading: deals are executed in the Contest Participant Cabinet.
4. The list of instruments for option trading is as follows:
- EUR/USD
- GBP/USD
- USD/JPY
- USD/CHF
- USD/CAD
- GBP/JPY
- EUR/JPY
- GBP/CHF
- EUR/GBP
- GOLD
- SILVER
5. An option is to be set at minimum 1 min. before its execution time.
6. The time set for opening and closing options is to be divisible by 10 minutes.
7. The Participant is able to set only one option on each trading instrument within 24-hour period.
8. The Participant receives 10 rating points for each positively closed option and loses 10 rating points for each losing option.
9. In case open price of an option equals close price of an option, it is considered as loss posotion, and 10 points are deducted from the Participant's rating.
IV. Publishing of Results
1. The rating of Contest participants is available on the Organizer's website during the Contest period.
2. The residential data of the Participants may be published.
3. The Contest results are published within 14 days after the Contest, when all investigations are completed.
V. Winners determination
1. The Participants with the highest rating will be announced the winners.
2. In case two Participants have the same rating, the Organizer makes a decision on the winner.
3. The Contest winners agree with publishing their full names.
4. The Participant is entitled to obtain one prize within one month. In case the Participant takes a prize place more than once a month, his account drops out of the contest and the range of prizes shifts down starting from his place.
5. The Organizer reserves the right to decline the Participant's registration request without reasoning and disqualify the Participant, either during the Contest or after it has finished, upon direct or indirect evidence of attempted fraudulent operations with the prize funds.
VI. Prize Receipt
1. The winners should open and verify their live trading accounts within 30 days after the contest results are published.
2. The prize funds will be credited to a verified live trading account opened by the winner.
3. The winner acknowledges liability for any activity on the account opened by the Contest and Campaign Administration or by the winner himself lying within the scope of the agreements and regulations of InstaFintech Group.
4. The prize cannot be withdrawn, however, any profit made over the prize amount can be withdrawn without any restrictions.
5. The Organizer reserves the right to declare any already given prize invalid and subject to cancellation upon direct or indirect evidence of attempted fraudulent operations with the prize funds.
6. A trading account is charged off automatically at filing a withdrawal application. When considering the application, specialists make sure that the balance and free margin comply with the amount of funds available for withdrawal. In case of incompliance the sum specified in the withdrawal application is credited back to the account.
7. The Company reserves the right to decline to credit the prize money if the Participant accumulates the prizes on one or several accounts.
8. The Winner agrees that after any withdrawal is made the prize is being cancelled in full amount.
VII. Language
1. The language of the present rules is English.
2. For the Participant convenience, the Organizer can provide the rules in a language different from English. The translated version of the rules is of a merely informative character.
3. In case of variant readings of a translated version and the rules in English, the rules in English are considered as a prior reference standard.
