Forex demo contest: BEST OF THE BEST

1. Registration, participation terms, contest period

1.1 The BEST OF THE BEST forex demo contest is held on a monthly basis, starting on the first day of the month at 00:00:01 and ending on the last day of the month at 23:59:59, in accordance with the server time displayed on the trading platform.

1.2 All participants are required to provide accurate and complete information when registering for the contest.

1.3 When registering for the contest, a participant accepts all limitations and rules related to the contest. LiteFinance reserves the right to disqualify a participant who violates the rules during the contest or when the contest results are summarized.

1.4 In case LiteFinance discovers that a participant is attempting to enter the contest from multiple accounts or profiles or using anonymous proxy servers, LiteFinance reserves the right to disqualify the participant.

1.5 To participate in the BEST OF THE BEST forex demo contest, a client must fully verify their Client Profile and register for the contest on this page.

1.6 When registering on the website, participants are required to complete the fields of the registration form above and provide their email (the Client Profile login) and a nickname to be displayed in the ranking of the BEST OF THE BEST demo contest.

1.7 Any client with a registered Client Profile with LiteFinance can participate in the BEST OF THE BEST forex demo contest on a monthly basis. A client can register for each contest only once.

1.8 Once the registration form has been completed, a contest demo account will be created for the participant, which will include a unique login number and password. The relevant details will be sent to the email provided during the registration for the contest.

1.9 The registration for a new contest stage is open as soon as the previous contest stage starts.

2. Terms of trading

2.1 Type of account: DEMO ECN.

2.2 Initial balance: 5000 (the same for all participants).

2.3 Leverage for trading Forex is fixed at 1:400. Leverage for other instruments is applied according to the specifications.

2.4 Risk Stop Out: The maximum drawdown acceptable in a contest account equals 25% of a current balance. As soon as floating loss exceeds this value, Stop Out will occur and all open positions will be closed. A participant who has allowed Risk Stop Out to happen on their account will be disqualified.

2.5 Trading instruments: any trading instruments provided by LiteFinance.

2.6 A participant may use any Experts Advisors and trading strategies without any restrictions provided that the terms of the Client Agreement are respected.

2.7 All trades must be closed before the contest ends. If there are any open trades at the time the contest ends, they will be automatically closed at the current market price. The presence of open trades at the time the contest ends will not result in disqualification.

2.8 Other terms of trading on contest demo accounts correspond to the terms of trading on live ECN trading accounts in accordance with the Client Agreement.

2.9 Acting as the contest organizer, LiteFinance reserves the right to refuse registration or disqualify a participant without providing further explanation. The reasons for disqualification are violation or non-compliance with the following contest rules:

• Violation or non-observance of the Client Agreement;
• Registration of several contest accounts by one person or the existence of several Client Profiles belonging to one person;
• Opening opposite trades with large volumes on different accounts at approximately similar times and on the same trading instrument;
• Use of quotes flow failures to make guaranteed profits;
• Presence of trades, including locked positions, with a duration of less than two minutes on the contest account;
• A participant has committed or is suspected of committing any fraudulent action in order to be listed among the winners.

2.10 Participants who have not performed any trading activity for 10 consecutive days during the contest period are automatically excluded from the contest.

3. Winners determination and prizes getting

3.1 The first 5 participants with the best Profitability/Risk ratio by the end of the contest will be considered winners of the BEST OF THE BEST demo contest. The final results will be formed within 3 working days after the end of the contest, as soon as they are checked by the security and risk-management departments.

3.1.1 The participants whose Risk factor has exceeded 5 during the contest period shall be excluded from the contest, and their contest accounts shall no longer be displayed in the ranking.

3.2 Only those participants who have been actively trading during the contest period and have increased their initial deposits without breaking the contest rules can be regarded as winners.

3.3 The participants who have gained prize-winning places from the first to the fifth according to paragraph 3.1 receive money prizes to their Credit field; LiteFinance, acting as the contest organizer, will credit the following amount to the winners' live ECN trading accounts, depending on the place:

3.4 If two participants of the BEST OF THE BEST demo contest have the same balance value at the contest's conclusion, the decision on the distribution of places between these two participants is made by LiteFinance, the contest organizer, giving preference to the participant with the lowest maximum drawdown recorded during the contest period.

3.5 According to the final results, the winners should do the following to receive the prize:

• Make sure that the Client Profile is fully verified according to LiteFinance’s requirements;
• Open an ECN trading account in the Copy Trading system;
• Send an email from the e-mail address specified when registering for the contest to [email protected] with the following information: the title of the contest – BEST OF THE BEST (demo); contest demo account number and trader’s password; trader’s ECN account number; email address specified when registering a profile.

3.6. The winner shall be aware that prize payment requests are accepted only within the first 2 weeks following the end of the contest the account has been participating in.

3.7 LiteFinance reserves the right to request any additional information regarding the participant’s identity when crediting a prize.

3.8 The prize winner is not permitted to demand that the prize amount be credited to the accounts of third parties.

3.9 The prize funds are credited to the client's live account, created immediately after participation in the contest, within three working days after sending the request for the prize (see 3.5).

3.10 The prize funds are credited to the Credit field, belong to the company, and are provided to a winner as an initial investment for participating in the Copy Trading service as a Trader. Profits made by a winner on their trading account by use of the prize funds can be withdrawn without any restrictions. Also, percentages of their investors’ profits made from Copy Trading can also be withdrawn at any moment and without any restrictions.

3.11 The credited prize is valid for 6 months from the moment it is credited to the trading account. The credit will be canceled after the expiration of the above period.

3.12 As the organizer of the contest, LiteFinance reserves the right to deny a prize without explanation if there is a suspicion of a rules violation or if a winner refuses to verify their profile and provide additional information regarding their identity as per paragraph 3.7.

3.13 Under the Investor Protection Program, the company reserves the right to conceal a winner's live ECN account from the Copy Trading platform's monitoring and withdraw prize funds if the winner begins using them for high-risk trading. If the floating loss exceeds 25% of the total value of the current balance plus credit when using the prize funds, the organizer will withdraw the prize funds.

3.14 By using prize funds on their trader's account on the Copy Trading platform, the winners undertake to follow a low-risk trading strategy and not exceed a risk level of 5.

3.15 As the contest organizer, LiteFinance has the right to amend the contest terms at any time without special notice.

3.16 LiteFinance reserves the right to use information related to the winning accounts for advertising purposes and to publish it in any media. The winners are invited to participate in LiteFinance's advertising activities related to the contest, including interviews, photo and video reports, and press releases. At the same time, LiteFinance commits to not disclosing the winner's personal information (including their name and surname) without the winner's consent. Should a winner refuse to participate in these advertising activities, LiteFinance reserves the right to disqualify the winner and award the prize to the participant in the next position in the final ranking.

3.17 The Organizer and sponsor of this promotion is the group of companies under the LiteFinance brand.