forex contest

“Participants” are IBFX Live Mini Account holders who register for the “IBFX Mini Challenge.” “Contest Period” refers to the time between the beginning time and closing time of the trading period that is tracked for the purposes of calculating Contest winners. “Round” is also used to refer to this time period.

The IBFX Mini Challenge ("Contest") is open to new and existing IBFX Mini Account clients. Only one entry per account holder or Participant is permitted. A Participant is only permitted one mini account to be registered in the contest at a time. This one trading account can only be entered in the contest one time for a contest Period. If the account is a joint account, then only one account holder can enter the account in the contest per Round. Participants must close a minimum of 10 (ten) trades per Round. Failure to close 10 (ten) trades during the contest period will result in disqualification. Qualifying Mini Accounts must be at least a full trading day old before they are eligible to be entered in any given month’s contest.

The contest will begin on the first weekday of each month, and will end on the 25th of each month or the last weekday before the 25th of each month if the 25th is not a weekday. Daily contest results are calculated using the eligible registered account's daily activity reports. Daily activity reports are generated at approximately 5:00pm eastern time USA. Participants must be enrolled in any given contest period before 2:00am EST on the 1st of the month.

There is NO entry fee required.

Each month, the top five performers, based on percentage gain, ("Winners") will be awarded the following cash prizes
("Prize"):

1st $3,000.00
2nd $1,500.00
3rd $750.00
4th $500.00
5th $250.00


In the event of a tie the available award will be equally divided between winners. Refer to the section: PRIZE AWARDS IN THE EVENT OF A TIE below.

Eligibility
Individuals who are at least 18 years of age (or the age of majority in their state or other jurisdiction of residence) and who have a live IBFX Mini Account ("Mini Account") with a minimum equity of US $250.00 funded by 4:59 PM ET the last weekday of the month prior to the contest period are eligible to participate in the Contest ("Contest"). Demo Accounts and regular accounts are not eligible for this contest. Master accounts and Sub Accounts are not eligible for this Contest. It is the participant’s responsibility to register the correct account. If an ineligible account is registered, that account will be disqualified and is not eligible to receive prizes or awards. If an account is entered more than one time then all entries of that account will be disqualified. If the account registered for the contest is disabled for any reason you will be withdrawn from the contest and auto-enroll will be turned off.

To be eligible for participation, all Participants agree to have their trading record published and or distributed by IBFX, its agents, and successors during and after the life of the contest. If the Participant chooses not to release his/her trading record he/she will not receive the prize money.

Funds may not be funded into or withdrawn from the account taking part in the contest during the duration of each Contest Period. Deposits and/or withdrawals can be made between the end of the contest period and the last weekday of the month prior to the new contest period. A deposit or withdrawal into or from your contest account during the contest period will cause a withdrawal from that month’s contest. Trade Tickets are not considered a deposit or withdrawal and will not withdraw the Participant from the Contest.

A minimum of 10 (ten) closed trades most be completed during the contest period to be eligible to win. Trades that occur after 00:00 GMT on the 1st trading day of the new month are considered in the contest. Trades that occur at or after 5:00pm EST on the last day of the contest period will not be considered in the results.

Employees of Sponsor, its subsidiaries, affiliates, suppliers or their immediate families are not eligible. Persons employed by a firm whose principal business is online foreign exchange trading its subsidiaries, affiliates or their immediate families are not eligible. By entering, Participant agrees to abide by these Official Rules and the decisions of the Sponsor, which are final and binding.

Determination of Winners
On the last day of each Round, all Participant Accounts will be marked to market at approximately 5:00 p.m. ET to determine the closing equity (P&L) percentage. Open positions need not be liquidated for purposes of determining the Winners. The final percentage gain for each Participant will be determined by the following formula and will determine the winner of the contest:

((EE - MSE) / MSE) * 100)= Monthly Percentage gain or loss
where EE = ending equity
where MSE = monthly starting equity
results are rounded to three decimal points after multiplying by 100

Each trading day the daily gains and losses to that point in the contest period is calculated to present daily standings using the following formula, this information is for information only and does not determine the winner of the contest:

((EE - DSE) / DSE) * 100)= Daily Percentage gain or loss
where EE = ending equity
where DSE = daily ending equity
results are rounded to three decimal points after multiplying by 100

The five Participants with the highest percentage gain during each Round will be named the Winners and awarded cash prizes. Winners may withdraw their Prize at any time, however, if it is withdrawn from their contest account during a registered round of the contest, the person will be withdrawn from that session of the contest.

All taxes related to the Prize are the sole responsibility of the winners.

At the start of each month, the contest standings are reset all eligible Participants have an opportunity to compete in the next month contest period.

Winner Notification
Winners will be notified by email to the email address of record. Winners' names and trading results will be posted to our website at www.ibfx.com.

Method of Payment of Award
Awards will be deposited into the winners’ accounts during the break between the contests of the following months. Month 1 winners will receive their award during the break between month 2 and month 3 contest periods.

Prize Awards in the Event of a Tie
In the event of a tie, the prize value will be split equally amongst the tied Participants. For example: If three people tie for 1st place then the awards for 1st , 2nd and 3rd place are combined and divided equally. If two people tie for 2nd place, then the awards for 2nd and 3rd are combined and divided equally. If 1st and 2nd place had only one winner but 3rd place has four, then 3rd, 4th and 5th place prizes is divided between the four winners tied at 3rd place. These examples are not meant to be a comprehensive description of all possible scenarios, but rather, representative of a limited set of the many possible scenarios. Participants agree that winners, prize awards and division of prize awards will be decided by IBFX and that all decisions are final.

Miscellaneous
The Contest is subject to all applicable laws in the United States. Void where prohibited or restricted by law.

Inquiries, Disputes, Appeals
All other inquiries, disputes, appeals, questions, petitions, and problems will be evaluated by IBFX and final decisions will be considered binding and satisfactory. IBFX, in its sole discretion, determines what action is reasonable or necessary. All decisions are final. Participants agree that any and all claims, disputes and causes of action arising out of or related to the Contest shall be resolved, without resort to any form of class action, exclusively by the appropriate courts in Salt Lake County, Utah, in accordance with the laws of the State of Utah, without giving effect to conflict of law rules which would cause the application of the laws of any other jurisdiction.

IBFX has sole discretion to disqualify any Participant found in violation of the rules of the Contest or applying inappropriate trading strategies.

IBFX shall not be responsible for any delays in the acceptance or transmission of orders due to a breakdown or failure of transmission or communication facilities, or for any other cause beyond their reasonable control or anticipation.

IBFX, in its sole discretion, may prohibit Entrants from participating in the Contest and disqualify entries if they attempt to enter the Contest through means not described in the rules, misrepresent themselves in any way on their IBFX trading application, attempt to disrupt the Contest or circumvent the rules, or act in an un-sportsmanlike manner or with intent to annoy or harass any other Participant(s) or Sponsor(s). IBFX reserves the right to amend, waive or interpret any rule in its sole discretion when doing so would be in the best interests of the contest. IBFX reserves the right to shorten or extend the Contest period or to cancel the contest if IBFX, in it its sole discretion, determines that such action is reasonable or necessary. All decisions are final. IBFX makes no warranty, representation or guarantee, express or implied, in fact or in law, relative to the use of the Contest prize including, but not limited to, quality, merchantability or fitness for a particular prize.

Under no circumstances will IBFX or any affiliated persons or entities be liable for: (1) electronic, computer, telephone, network, internet or other technical or human error(s) which may occur in connection with the Contest; (2) any injury or damage to person or property, which may be caused, directly or indirectly, from participation or attempted participation in the Contest; (3) illegitimate entries (which will be disqualified); (4) punitive, indirect, incidental or consequential damages.

IBFX reserves the right to; extend the trading period, to postpone the starting date until after the first of each month, choose not to display daily results and standings, or to cancel the contest if IBFX, in its sole discretion, determines that such action is reasonable or necessary. IBFX, in its sole discretion, may reject any Participant’s application for any reason.

Risk Disclosure
This Contest requires Participants to open and fund an IBFX mini trading account. Before deciding to participate in the Contest, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. There is considerable exposure to risk in any foreign exchange transaction. Moreover, the leveraged nature of FX trading means that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well as for you. The possibility exists that you could sustain a total loss of initial margin funds. There are also risks associated with utilizing an internet-based deal execution software application including, but not limited, to the failure of hardware and software.

Current Standings
Register
Contest Rules

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