Terms & Conditions
1. General provisions
1.1 The ForexBall™ trading competition consists of rounds and seasons.
Each of the Basic rounds are carried out according to the following schedule:
Starting time: Monday 10:00 (London/MetaTrader)
Ending time: Friday 14:00 (London/MetaTrader)
Every season consist of four rounds.
1.2 The ForexBall is organized by Admiral Markets. Participants of the ForexBall™ competition must complete the registration procedure in the Admiral Markets Trader's Room. Depending on the country of residence, they are assigned to one of five geographical regions.
1.3 Each ForexBall™ round is a separate competition of participants from the following groups of countries that are consolidated in divisions based on geographical regions:
1.3.1 European Division: Poland, Czech Republic, Slovakia, Hungary, Austria, Germany, Switzerland, France, Belgium, Netherlands, United Kingdom, Ireland, Luxembourg, Liechtenstein, Andorra, Monaco, Sweden, Denmark, Norway, Iceland, Finland, Estonia, Latvia, Lithuania, Italy, Malta, San Marino, Slovenia, Croatia, Serbia, Bosnia and Herzegovina, Montenegro, Macedonia, Albania, Bulgaria, Romania, Greece, Turkey, Cyprus.
1.3.2 Asian Division: Afghanistan, Australia, Bangladesh, Bhutan, Brunei, Cambodia, French Polynesia, India, Laos, Malaysia, Maldives, Mongolia, Nepal, New Zealand, Papua New Guinea, Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand, Vietnam.
1.3.3 Ibero-America Division: Belize, Bermuda, Bolivia, Brazil, Chile, Colombia, Dominican Republic, Ecuador, El Salvador, Guatemala, Guyana, Haiti, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Portugal, Spain, Suriname, Uruguay, Venezuela.
1.3.4 The Rest of the World Division consists of available countries that are not listed in any previous Division.
1.4 Each round opens and closes according to the above mentioned schedule.
1.5 All trading operations are performed with virtual money on the special ForexBall™ demo contest accounts that are opened separately for each round of the competition.
1.6 Participation in the ForexBall™ trading competition is completely free of charge. Each participant is entitled to take part 4 rounds of the competition without further restrictions. If the participant wishes to take part of additional rounds (more than 4), the participant has to have a deposited live account with Admiral Markets.
Be aware! The participants which have won prizes in 3 or more occasions may continue to participate fulfilling previous requeriments, but since the purpose of this competition is trading education, they are not entitled to receive more awards.
1.7 Everyone is welcome to participate, except for employees of Admiral Markets ("AM") and their respective relatives and dependents, Introducing Brokers of AM, Referrals and Agents of AM, employees of other brokerage companies, dealing centers and banks as well as their respective relatives and dependents.
1.8 Contest accounts remain inactive ("Disabled") until the scheduled beginning of the corresponding round.
1.9 Each participant agrees that by entering the ForexBall™ competition they express their free, prior and informed consent for AM to process any personal data which they provide while registering and/or participating in the competition. The data is collected and processed only to such extent, which is necessary to administer and run the ForexBall™ competition. AM shall disclose any data about participants only to the extent stipulated in these terms and conditions. Each participant has the right to withdraw their consent for processing of personal data at any time. However, such a withdrawal may at the discretion of AM result in the disruption, suspension or termination of the participant’s account.
1.10 Each participant agrees that his chosen pseudonym ("nickname"), country of residence, and account's equity data may be published in the rating table at www.admiralmarkets.com and in all site versions. Each prizewinner agrees that his name, surname and transaction history may be displayed in a detailed statement linked to his respective nickname in the contest rounds and seasons. Before being eligible to claim any prize money, the contestant shall provide Admiral Markets with an interview and a photo of himself/herself. The contestant permits AM to use both the statements from the interview (as an actual interview as well as in altered versions that still preserve the essence of the statements) and the photo for marketing and PR purposes, including announcement of the winner and publication of a profile of the winner on the contest website www.forexball.com, Admiral Markets’ website www.admiralmarkets.com, local versions of the website and through social media channels. The interview shall be given in writing. Only after completing the interview form online, the contestant shall be eligible to receive his/her prize.
1.11 Each participant agrees that the organizer of the competition may send the participant messages including, but not limited to, notifications, special offers, promotions, commercial advertisements and marketing materials, in connection with the competition and/or the services of the organizer. Such consent is voluntary and can be withdrawn at any time.
2. Registration in the ForexBall™ competition
2.1. Each participant who has registered a ForexBall™ demo contest account agrees with the "Terms and Conditions of the ForexBall™ competition for demo accounts" and also with the "Terms of Business" and/or "Terms and Conditions" of Admiral Markets.
2.2 Each participant consents to provide correct personal data in the registration process.
2.2.1 Each participant consents to provide the real country of his/her residence, which must be a country mentioned in one of the 5 geographical regions of the ForexBall™ Competition.
2.2.2 In case a participant, inadvertently or purposely, has indicated his/her country of residence incorrectly, he/she will immediately lose the right to claim their prizes and will be disqualified from participating in all rounds of the competition.
2.3 Contest accounts are demo accounts in the MetaTrader 4 Admiral Markets trading platform that are provided with a margin rate of 1% (i.e. leverage 1:100) and a virtual deposit in the amount of $10,000. Access data for use in MetaTrader 4 (i.e. login and password) are sent by e-mail to each participant at the end of the registration process.
3. Terms for trading in ForexBall™ demo contest accounts
3.1. Participants may only conduct their trading using the MetaTrader 4 client terminals. Participants may not use the AM Phone Dealing Service.
3.2 In order to begin trading, participants are required to install the AM trading software "MetaTrader 4 Admiral Markets", enter their access data (Login and Password) into the corresponding fields in the File Login menu and then choose the "AM-Demo" trading server in the pop-up list. Access points dedicated to the contest accounts are: server2.fxservice.com:443, server6.fxservice.com:443.
3.3 Automated trading (Expert Advisor) is prohibited.
3.4 In the event the contest account has open positions at the moment of the scheduled closing of the round, such positions will be closed at prevailing market prices. Long positions will be closed at the Bid price and short positions will be closed at the Ask price.
3.5 AM has the discretion, but not the obligation, to disqualify the participant during any contest round or after its closing, if:
3.5.1 AM established that the participant was trading with more than one contest account during the same round;
3.5.2 AM has established that more than one account participating in the round was managed from a single IP-address;
3.5.3 The participant was using anonymous HTTP/socks proxy-servers for his/her trading;
3.5.4 Any other significant violation of the ForexBall™competition terms and conditions has occurred.
3.6. Disqualified participants will lose their right to claim prizes in all rounds of the contest.
4. Establishing winners and prize distribution for each round
4.1. The establishing of the winners of each round occurs as follows:
4.1.1 After the round has ended, Admiral Markets forms the winners list in each of the 5 divisions.
4.1.2 After the season has ended, Admiral Markets forms the winners list of the season.
4.1.3 Only participants satisfying the following conditions may claim prizes:
a) A participant's account balance at the end of the round must exceed the value of their initial balance;
b) The participant has not been disqualified.
c) The participant has traded more than 10 lots in the respective round.
4.1.4 The larger the contestant's balance is, the higher their ranking. In case two or more contestants have equal balances, the higher position is granted to the contestant who has a larger cumulative amount of completed deals for that round.
4.1.5 If there are no participants who correspond to the above-stated conditions, it is considered that there are no winners in that round.
4.1.6 Within 96 hours of the round closing, AM publishes the final Top 5 ratings of the round in the "Company News" section at www.admiralmarkets.com, www.forexball.com and links detailed statements to respective nicknames in the online rating.
4.2 Prize funds in the rounds are distributed between the top 3 participants in each of the 5 divisions as follows:
1st place – 1,000 USD
2nd place – 500 USD
3rd place – 250 USD
5. Establishing the winners of the Season
5.1 To become a winner of the season, a trader does not have to participate in any special rounds. A trader becomes a winner of the season when his/her cumulative profit and loss during the four rounds of one season is the highest among all of the participants.
5.2 Within 96 hours of the round closing, AM publishes the final Top 5 ratings of the round in the "Company News" section at www.admiralmarkets.com, www.forexball.com and links detailed statements to respective nicknames in the online rating.
5.3 Prize funds in the seasons are distributed between the top 3 participants of the season, independently of their division, as follows:
1st place – 3,000 USD
2nd place – 2,000 USD
3rd place – 1,000 USD
6. Awarding winners after each round of the competition
6.1 Prize funds are distributed in the form of deposits placed in live accounts, opened by AM for prize winners using their personal details that were provided during the contest registration.
6.2 The whole amount of a prize that is paid to a winner's live account and all the subsequent profits are the property of Admiral Markets before the minimum trading volume is completed.
6.3 A minimum trading volume of 1 round turn lot of Forex has to be completed per each 10 USD of the initial account balance.
6.4 Due to substantial difference in marginal requirements, 1 round turn of Gold and Silver will account for 0.2 lots and 0.1 lots of the trading volume respectively.
6.5 A withdrawal from the prize account is only possible after the full trading volume has been completed. A trading volume is calculated on the basis of point 6.3 and only takes into account the positions that comply with these 3 rules: a) remained open for more than 15 minutes b) were closed with Profit or Loss of larger than 3 pips, c) the trade was not hedged,
6.6 A trade is considered hedged when it is conforms with ALL of the points below:
6.7 Prize winners consent to participate in AM's PR enterprises, such as interviews, photo-reports and the public notification through mass-media about the results of the competition.
6.8 If a participant is awarded a prize in any round of the ForexBall™ competition:
6.9.1 The prize winner must submit photocopies of their passports or ID cards within 5 days after the end of the round to firstname.lastname@example.org. AM reserves the right to request additional documents or procedures in order to verify the winner's identity.
6.9.2 Withdrawing funds from the live prize account can be conducted to the winner's bank account only if the bank account is opened in the name of the participant. AM reserves the right to request additional documents or procedures in order to verify the winner's identity.
7. Disagreements and complaints
7.1 All complaints have to be sent via e-mail to email@example.com with the subject line "ForexBall™ Contest". It is only through this avenue that the complaints will be accepted and resolved.
7.2 Complaints concerning the failure to conduct a trading operation in a contest account because of low internet connection quality (either on the side of the participant or on the side of AM's hosting provider) are not accepted.
7.3 Complaints concerning quoting in the MetaTrader 4 Admiral Markets are not accepted, except for cases of appreciable errors.
7.4 During disputes, the AM decision is final. While deciding, AM takes into consideration the "Terms of Business" and/or "Terms and Conditions" and common market practices. AM’s decisions are non-disputable. The decision made by AM regarding the competition is binding on the persons concerned.
8.1 AM retains the right to close or cancel the competition at any time because of unexpected or unusual circumstances.
8.2 It is the responsibility of any participant who has won any prize money to pay taxes on their winnings in accordance with the respective laws of their country/region.
8.3 If for any reason the competition is terminated due to unforeseen circumstances before the official end date, the ranking of participants at the moment of termination of the competition will not be considered as the basis for establishing winners.
8.4 In exceptional cases, where an appreciable error has occurred, the criteria for determining the winners of each round can be changed by AM.
8.5 AM retains the right to change the competition rules if unforeseen circumstances should arise or if an obvious error has been found.
8.6 The final results of completed rounds cannot be revised.
8.7 Since 16.03.2016 AM doesn't provide trading statements of the participators oir winners of ForexBall International Trading Competition.
8.8 In case of any ambiguity or conflict or inconsistency between these terms and conditions and the English terms and conditions available at www.forexball.com, the English terms and conditions shall prevail.