1.- $500 prize.
$ 500.00 (five hundred USD) in a GMT Prime's live account to be paid in five (5) installments of $ 100 (one hundred USD) weekly *.
- The competition can only have one winner (participant). If there is a tie (a situation in which two or more traders finished the competition with the same balance), GMT Prime will deliver the award to the trader with the highest number of positive trades. If the tie continues, the award will be given to the trader with the lowest drawdown.
- Prize will be paid in a live GMT PRIME's account. If the winner does not have an account on GMT PRIME, he/she will need to complete the compliance process, in order to open the account. If the winner application for opening the account is rejected, GMT PRIME will give the award to the second best participant in the same competition and category.
- After opening the live account with GMT Prime, the prizewinner could receive up to five (5) installments (deposits) of $100 (one hundred USD) in its account. The prizewinner will receive $100 in the first week and then, it must open at least 3 trades per week to receive another $100 installment.
- The previous cycle could be repeated for four (4) continuous weeks until the prizewinner has received the total prize of $500 (five hundrend USD). If the prizewinner fails to open at least 3 trades per week, it would not be able to receive the remanining of the $500 prize.
- If after 15 days of announcing the contest'swinner, the participant couldn't be reached or has not sent the required documentation, it forfeits the right to claim the prize.
- Winners may request a withdrawal for the totality of the funds earned in the contest if and only if 3 (three) of the following conditions are met:
- (1) The user already has a Live Account with GMT Prime which is at least six-month-old (Bonus/Contests prize accounts do not apply).
- (2) The user opened at least two (2) trades (Buy / Sell) weekly continuously for fifty two (52) weeks.
- (3) The user has deposited at least $500 into its GMT Prime account.
- (4) The amount to be withdrawn is equal or greater than $500.
- The winner will be announced in the second week of January, 2015.
*In case of failure to comply with the previous conditions or the General Terms and Conditions for FOREX Contests, GMT Prime reserves the right to fully or partially suspend the payment of the prize to the contest's winner.
- In order to participate in the competition, you must agree with the General Terms and Conditions for FOREX Contests. You should not register on the competition neither receive any award unless you agree with these rules.
- The registration period for the competition begins at 00:00 (GMT - Greenwich Mean Time) on November 23rd, 2014 and ends at 20:30 GMT on December 5th, 2014 .
- In order to compete, the participant should provide an user name, first name, last name (all the information may be verifiable by GMT prime), email and phone using the form available on the GMT Prime's website: http://www.gmtprime.com/gmt-challenge
- The user name should be unique; it may not be chosen by another trader. The user name should not have any reference related to GMT Prime. Word such as "GMT Prime trader", "GMT Prime Steroids” are not allowed.
- GMT PRIME could reject any registration with inconsistent information or disqualify any participant that provided false personal information.
- The individual who performs the registration should be the same who uses the trading account during the competition and the only one who can receive the prize. Neither the accounts nor the award are transferable to another individual.
- It is not allowed to register in the contest with more than one account. If GMT Prime detects that any competitor is trading with more than one account, it will be disqualified.
- In order to compete, the participant accepts that either the information provided during the registration process or the participant's trading records could be used and published by GMT Prime.
- As stated in the General Terms and Conditions for FOREX Contests, residents and citizens of the United States are not allowed to participate in the contest. If there is a situation where a participant has registered with false information and he/she wins the contest, the prize will be given to the next competitor on the contest's standings.
- As stated in the General Terms and Conditions for FOREX Contests, GMT Prime's employees cannot participate in the contest.
- Failure to comply with any of the previous rules, or any other element or action that GMT Prime considers is against the rules of the competition or the General Terms and Conditions for FOREX Contests, could result in the participant's disqualification.
3.- Setup and operation of the accounts
- Each participant will receive a DEMO account within 12 hours of registering to the competition. The DEMO account could be accessed through the GMT Prime MetaTrader 4 platform. All accounts will have an initial balance of $5000, a leverage of 1:100, a Margin Call of 120% and a Stop out Level of 100%. The maximum lot size per trade is 10 (ten).
- The MetaTrader 4 account access will be sent to the participants' within 12 of registering to the competition.
- Each participant's account will be active within 30 days of registering. After 30 days, the account will expire and the participant won't be able to trade*.
- There is no maximum duration for open trades. However, only closed trades will be considered to determine the result of the contest.
- Any trade which was still open before the DEMO account expiration, will not be valid to determine the results of the contest.
- The participant can open MAXIMUM ten (10) trades per week. Failure to comply with the weekly trading limit, may unable the participant to win the contest's prize.
- Participants can trade manually or using any script or Expert Advisor, if and only if it works within the MetaTrader 4 platform.
- Failure to follow any of these rules or any activity that attempts to break the General Terms and Conditions for FOREX Contests may result in the participant's disqualification.
* Note that at some point of the competition, several participant won't be able to trade because their account expired (30 days after registration), whereas other participants (registered later) will be able to continue trading.
Contest standings list participants according to the profit they have made on the contest.
The profit is calculated by the following formula:
PROFIT = (Balance - InitialBalance)/ InitialBalance
5.- Important Considerations
- Participants must agree with the General Terms and Conditions for FOREX Contests.
- Each participant can have only one username.
- Once the contest has finished, only participants which balance is higher than the contest's initial balance could opt for the prize.
- The contest standings will be available only through the GMT Prime's website at the following address: http://contest.gmtprime.com/
- As stated in the General Terms and Conditions for FOREX Contests, GMT Prime reserves the right to use personal information and trading history of the participants for future company advertising, contests, marketing, events, research, publications, and any other type of operation it deems appropriate.
- As stated in the the General Terms and Conditions for FOREX Contests, GMT Prime will not incur any liability in circumstances where competition should be modified, shortened or canceled for any reason without notice. GMT Prime reserves the unilateral and exclusive right to eliminate this competition, disqualify any participant, change the rules, change the prizes or increase time for requesting a prize withdrawal.
- Participants are responsible for their own conduct and release GMT Prime of any responsibility or liability for loss or damage related to this GMT Prime trading competition.
- GMT Prime reserves the right to pay the bonus on a Dealing Desk or No Dealing Desk account. GMT Prime will not re-quote orders.
6.- Complaints and requests
Any requests, complaints or comments regarding The GMT Challenge contest should be sent via email to: