Lucky Trader - terms and conditions

1. General Provisions

• • 1.1. The name of the contest is Lucky Trader (hereinafter - "Contest").
  • 1.2. The Contest is held by InstaFintech Group (hereinafter - "Organizer").
  • 1.3. The Contest is held within two weeks from 00:00 Monday to 23:59:59(terminal time) Friday.
  • 1.4. You can register for the next step during the current contest step. Registration finishes 1 (one) hour before the contest starts.
  • 1.5. The prize pool of each Contest step amounts to USD 3000 distributed among the winners in the following way:
    • 1 place - USD 1000;
    • 2 place - USD 750;
    • 3 place - USD 500;
    • 4 place - USD 250;
    • 5 place - USD 200;
    • 6 place - USD 150;
    • 7 place - USD 100;
    • 8 place - USD 50.

2. Participants

• • 2.1. The Contest is available only for customers who are over 18 years old.
  • 2.2. Every Participant has to register for the new Contest step on the Organizer's website.
  • 2.3. The Participant is opened a new DEMO account for every step of the Contest.
  • 2.4. The Participant agrees to provide true data including the full name identical to the one specified in the identification document and available email address.
  • 2.5. 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.
  • 2.6. 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.
  • 2.7. Registering for the contest, the Participant accepts all the restrictions and rules of the Contest.
  • 2.8. 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.

3. Trading Conditions

• • 3.1. After registration for the Contest is completed, the Participant is opened a DEMO trading account.
  • 3.2. The initial deposit amounts to USD 30 000 for all the Participants and can not be changed.
  • 3.3. The leverage is 1:500 .
  • 3.4. All orders put at non-market price are destined to cancellation. The Contest Administration reserves the right to disqualify the account in case it was employed for trading at non-market quotations.
  • 3.5. The Participant may use any Expert Advisors and trading strategies.
  • 3.6. Major currency pairs and Forex crosses are the only available trading instruments at the contest.
  • 3.7. The minimum trade volume is 0.01, the maximum trade volume is 1 lot. Increment is 0.01 lots.
  • 3.8. The Participant can change his trading account type to Swap free by contacting the Support Service.
  • 3.9. The maximum number of open trades including pending orders is 10.
  • 3.10. Stop out level is 10%.
  • 3.11. Other trading conditions for contest trading accounts are the same as for the live trading accounts of InstaSpot.

4. Publishing of Results

• • 4.1. The balance of Contest accounts is available on the Organizer's website during the Contest period.
  • 4.2. The Organizer reserves the right to publish stetements of the Participants' accounts after the Contest finishes.
  • 4.3. The residential data of the Participants may also be published.
  • 4.4. The Contest results are published within 14 days after the Contest, when all investigations are completed.

5. Winners Determination

• • 5.1. All trades are closed automatically at the current price rate after the contest finishes.
  • 5.2. In case two Participants have the same rating, the Organizer makes a decision on the winner.
  • 5.3. The Contest winners agree with publishing their full names.
  • 5.4. To determine the winners, InstaSpot Contests and Campaigns Administration uses the rating which is calculated by summation of profit pips and subtraction of loss pips with the only limitation: every positive deal will give NOT MORE than 10 points to your rating. It means that even if a profitable deal gains 20, 40 or 50 pips, your rating will be 10 points increased. And loss pips will be extracted from the rating to the full extend. Besides, the trade volume is taken into account calculation the rating. For example, if the Participant has two 30 pips profit trades, but one of them is 0.1 lot, and the second one is 1 lot, the first trade will increase the rating only by 1 point ((10*0.1) = 1), and the second one by 10 points ((10*1) = 10)
  • 5.5. 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.
  • 5.6. 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.
  • 5.7. The Company reserves the right to decline to credit the prize money if the Participant accumulates the prizes on one or several accounts.

6. Prize Receipt

• • 6.1. The winners should open and verify their live trading accounts within 30 days after the contest results are published.
  • 6.2. The prize funds will be credited to a verified live trading account opened by the winner.
  • 6.3. 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.
  • 6.4. The prize cannot be withdrawn, however, any profit made over the prize amount can be withdrawn without any restrictions.
  • 6.5. 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.
  • 6.6. 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.
  • 6.7. The Winner agrees that after any withdrawal is made the prize is being cancelled in full amount.

7. Language

• • 7.1. The language of the present rules is English.
  • 7.2. 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.
  • 7.3. 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.