Who Can Enter
The Spring 2 Summer Forex Trading Contest is open to new and current FXDD clients. Clients may enter multiple accounts in the contest. Eligible client accounts will automatically be entered in the contest. FXDD reserves the right to refuse entry to any client for any reason in its sole determination. FXDD employees and family members are not eligible. There will be three (3) categories of winners: (1) largest absolute dollar gain; (2) largest percent gain in equity and (3) largest gain in an FXDD portfolio.
Contest Period
The contest will begin on Sunday, May 18, 2008 (5 p.m. EST) and end at the close of business on Friday, June 20, 2008 (4 p.m. EST). Open positions will not have to be liquidated for purposes of determining the contest winners. All open positions will be marked to market as of 4 p.m. EST on the last day of the contest. The percentage gain will be based on the net change of equity between the beginning and end of the contest for each account divided by the adjusted initial equity. The net change of equity and percentage of gain will be calculated based on all factors affecting the ending equity including, but not limited to, trading P/L, swap (rollover) fees and deposits (see calculation in
Selecting the Winners).
Eligible Trading Accounts
To be eligible to win, the opening account equity in each account in each of the three (3) categories must be at least $1,000 as of Sunday, May 18, 2008 (5 p.m. EST), and the account(s) must be self-directed or FXDD Auto accounts. Any withdrawal from a client's account(s) during the contest period will result in an immediate and automatic elimination of that account from the contest. Also, FXDD Auto clients may only adjust their portfolio during the weekend (New York time) when the markets are closed. Should the client have multiple accounts, the account(s) unaffected by a withdrawal or an impermissible portfolio change remain eligible. To be eligible in the final determination of the contest winners, clients in category one (1) must also have completed a minimum of twenty (20) round turn standard lot trades during the term of the contest in each eligible account and clients in category two (2) or three (3) must complete fifteen (15) round turn standard lot trades. If a client has more than one account eligible for the contest, only the account with the greatest absolute dollar gain at the end of the contest will be deemed to be eligible in the final determination of the contest winners. A client whose account(s) qualifies for a prize in more than one category may only claim one prize. The client may select the category from which to select the prize. Clients whose account(s) are in the leader's bracket during the contest must agree that their name and trading record may be published by FXDD, at its discretion, in any media and format it chooses, to remain eligible. All determinations of eligibility by FXDD are made in its sole discretion and such determinations are final.
Selecting the Winners
At the close of business Friday, June 20, 2008 (4 p.m. EST), each eligible account will be marked to market in order to compute each client's ending equity. The accounts will be ranked in descending order in each category. All taxes related to the prizes are the sole responsibility of the winners. The formula for determining the greatest percentage gain is as follows: (Ending Equity - Beginning Equity - Deposits) / (Beginning Equity + Deposits) = Percentage Gain. The formula for determining the greatest absolute dollar gain is as follows: (Ending Equity – Beginning Equity – Deposits). In the case of a tie in any category, the client who completed the greatest number of standard lot round turn trades will be declared the winner. The final selection of the winners is at FXDD's sole discretion and all determinations are final.
Trading Regulations
All trading during the contest shall be conducted pursuant to the terms and conditions of the Customer Agreement, Risk Disclosure Statement and Trading Rules and Regulations set forth in FXDD's customer account opening documents. Further, any client who in FXDD's sole determination is engaged in scalping, inappropriate trading strategies or who attempts to manipulate FXDD's price feed or in any other way attempts to manipulate communications or the software made available to clients may be eliminated from the contest. All such determinations shall be final. Since the purpose of the contest rules is to ensure that each client has the same opportunity, FXDD reserves the right to amend, waive or interpret any rule in its sole discretion when so doing would be in the best interests of the contest.
Communication Delays
FXDD shall not be responsible for any delay in the acceptance or transmission of orders due to a breakdown or failure of transmission or communication facilities, or for any other cause beyond its immediate and reasonable control.
Termination
FXDD reserves the right to extend the contest time period, to postpone the starting date and to cancel the contest at any time in it its sole discretion.