«Demo» Traders' Contest 2008 has not undergone any significant changes. It is based on the estimation of a trader by a qualified investor.
Profit, Drawdown and Profit Factor will be used in the calculation of the rating. These are indices most frequently used by investors. Total analysis of these indices reflects the quality of trading at most.
Real daily change of funds is fixed by rollover, i.e. every night positions will be closed and reopened, fixing preliminary results in the report. Thus, the report on trading will reveal real movement on the account.
A qualified investor also understands that trading with a high leverage is connected with unacceptable risks. We set the maximum leverage 1:10 in this Contest. Thus, it will be unprofitable for a trader to open positions with a large volume as his chances to win decrease when trading the whole deposit with 1:100 leverage.
There will be only FOREX nomination in the Contest as our clients are in different time zones. Thus, our clients from some time zones will be under disadvantageous conditions when trading instruments, which are not traded on a 24-hour basis.
The initial deposit of the trading account is 100 000 USD. Such a deposit is quite enough for any trading style even with leverage 1:10.
Unlike in the previous Contest now the participants can deposit a prize sum to the live account with one of the following deposit currencies: USD, EUR, RUR.
«Demo» Contest Regulations 2008.
1. Registration and Terms of Participation.
1.1 To participate in the Contest you have to be registered. It is not required to register in each of the four rounds.
1.2 Alpari staff and their relatives are not allowed to compete.
1.3 A participant shall fill in the registration form specifying his/her real name, surname, e-mail, contact telephone number, country (for Russia a region is specified), city, passport details (this private information is confidential), nickname to take part in the Contest. The form should be filled in ENGLISH. Once you have done it, four contest demo-accounts will be open to take part in the first, second, third and fourth rounds correspondingly. A unique number of login and a password are assigned to each Contest account.
1.4 Once you have been registered you get a virtual 100 000 USD deposit.
1.5 A participant has a right to register only once.
1.6 In case the Contest data are lost (unique login and/or password number) a participant shall e-mail scanned copies of his passport with a photograph and registration at contest@alpari.ru, having specified his «Demo» Contest nickname.
1.7 A participant should see the Regulations of the Contest, as ignorance of the Regulations can not serve as an argument when presenting a claim.
1.8 The date and time of registration start and ending for each round are given below:
Note: Moscow time.
2. Making a Deal on the Contest Account.
2.1 Trading operations on the contest account are executed on the instruments of the Foreign exchange market, available for trading on accounts of alpari.classic type.
2.2 All the transactions are made on the «virtual account» using «virtual money» only via trading terminal MetaTrader: Alpari (version 4.00 build 211 and above). As a participant you are not allowed to make transactions by phone or operators service of Alpari.
2.3 To make a transaction you need to install the program MetaTrader: Alpari (version 4.00 build 211 and above). The server address for the Contest accounts is 217.74.44.37:443, 212.65.93.9:443 or «Alpari-Contest».
2.4 All the trades on the Contest accounts are executed with the leverage 1:10.
2.5 Administration of the Contest has the right to disqualify the participant(s) if:
- he/she makes deals using more than one Contest demo-account;
- we found out that on the one IP address there are more than two participants;
- he/she makes deals using unknown HTTP/socks proxy-servers.
Participants who use dynamic IP-addresses should be aware of possible risks, coming from clause 2.5. That is why Administration of the Contest strongly recommends you to use a static IP address. A disqualified participant is excluded automatically from the list of candidates of the current round of the Contest, of the subsequent rounds and by the results of the whole Contest.
2.6 All transactions are made in accordance with clauses 2, 3, 4, 5 and 6 of the «Terms of Business», but for the Contest account the «Dealer» means the «server software».
2.7 The participants are not allowed to use proxy, HTTPort, SOCKScap or any other similar programs, only if you are not able to work directly (443 port is closed). In this case, while registration the participant should indicate the name, address and telephone number of the organization which local net he/she is planning to use for the contest trading. This information should be e-mailed at contest@alpari.ru. To make a deal on the Contest account the participant must use HTTP/socks server of this organization.
2.8 The participant can make a deal on the Contest account only while every round of the Contest lasts. The date and time of every round of the Contest are specified in clause 1.8. of the Contest Regulations.
3. Contest Results, Winners and Prizes.
3.1 If the participant has an open position on any instrument when a round has been finished then this position is closed in the following way:
- Long position is closed at the latest Bid price in MetaTrader: Alpari at the moment when a regular round of the Contest completes;
- Short position is closed at the latest Ask price in MetaTrader: Alpari at the moment when a regular round of the Contest completes.
3.2 Administration of the Contest makes all the procedures described in clause 3.1 of these Regulations within 48 hours after a regular round of the Contest is over. Only then the procedure of selecting the Contest winners begins.
3.3 The Contest winners are selected in the following way.
3.3.1 To form and calculate the final rating three indices are introduced:
- Percentage of Profit (priority 1);
- Percentage of Maximum Relative Drawdown (priority 2);
- Profit Factor (priority 3).
Percentage of Profit index is of the top priority, then Percentage of Maximum Relative Drawdown and Profit Factor follow. Current value of these indices can be found in the itemized statement MetaTrader4, it is calculated to the hundredth.
Note: In the Comments to the Contest Regulations you will find the indices calculations formulas (Comment 1) and the procedure of the itemized statement forming (Comment 2).
3.3.2 The final rating of a participant is calculated in the following way:
- a) Grey rating is formed. Participants with positive balance of operations (that is their current balance is more than the initial deposit) are included there. Grey rating is formed in accordance with the indices priority (refer to clause 3.3.1). If two or more participants have the same value of Percentage of Profit index, their position in the rating is specified with the help of Percentage of Maximum Relative Drawdown with priority 2. If two or more participants have the same value of Percentage of Profit and Percentage of Maximum Relative Drawdown, their position in the rating is specified in accordance with Profit Factor index (priority 3). If two or more participants have the same value of Percentage of Profit, Percentage of Maximum Relative Drawdown and Profit Factor, the participant with a smaller login number in MetaTrader 4 takes a higher place in the rating.
- b) The Final Rating is calculated for each participant from the first 50 leaders of the Grey rating, who get points on each index (see clause 3.3.1).
- c) The participant who takes the first place in the rating by Percentage of Profit (that is has the highest value of this index) gets 50 points, the second place - 49 points etc. At last, the participant who takes the fiftieth place gets 1 point. If Percentage of Profit of two or more participants coincides, the higher place is taken by the participant who takes a higher place in the Grey rating.
- d) The participant who takes the first place in the rating by Percentage of Maximum Relative Drawdown (that is has the highest value of this index) gets 50 points, the second place - 49 points etc. At last, the participant who takes the fiftieth place gets 1 point. If Percentage of Maximum Relative Drawdown of two or more participants coincides, the higher place is taken by the participant who takes a higher place in the Grey rating.
- e) The participant who takes the first place in the rating by Profit Factor (that is has the highest value of this index) gets 50 points, the second place - 49 points etc. At last, the participant who takes the fiftieth place gets 1 point. If Profit Factor of two or more participants coincides, the higher position is taken by the participant who takes a higher position in the Grey rating.
- f) The sum of the received points is the Final Rating (IR).
Note: The example of the Final Rating calculation is described in the Comments to the Contest Regulations
(Comment 3).
3.3.3 If the Final Rating of two or more participants coincides a higher place is taken by the participant who has a higher value of the index with a higher priority (see clause 3.3.1). E. g. if the Final Rating of two or more participants coincides, position in the rating is specified by Percentage of Profit with priority 1. If Percentage of Profit coincides, position in the rating is specified by Percentage of Maximum Relative Drawdown (priority 2). Then, if the value of Percentage of Profit and Percentage of Maximum Relative Drawdown coincides position in the rating is specified by Profit Factor (priority 3).
3.4 The winner of the Contest is specified in the following way.
3.4.1 The list of candidates is formed from those participants whose Final Rating in at least one round of the Contest is above zero.
3.4.2 For each participant of the list of candidates total rating (SR) is calculated. It is calculated as the sum of the Final Ratings in each round:
- SR = IR1 + IR2 + IR3 + IR4,
- where
- SR - total rating;
- IR1 - final rating for the first round;
- IR2 - final rating for the second round;
- IR3 - final rating for the third round;
- IR4 - final rating for the fourth round.
3.4.3 If the total rating of two or more participants coincides a higher place is taken by the participant with a higher value of the final sum of the index with a higher priority (refer to clause 3.3.1).
The final sum of Percentage of Profit index has priority 1:
- PPtotal = PP1+ PP2+ PP3+ PP4,
- where
- PPtotal - the final Percentage of Profit for the four rounds;
- PP1 - Percentage of Profit for the first round;
- PP2 - Percentage of Profit for the second round;
- PP3 - Percentage of Profit for the third round;
- PP4 - Percentage of Profit for the fourth round.
The final sum of Percentage of Maximum Relative Drawdown has priority 2:
- PMRDtotal= PMRD1+ PMRD2+ PMRD3+ PMRD4,
- where
- PMRDtotal - the final Maximum Relative Drawdown for the four rounds;
- PMRD1 - Percentage of Maximum Relative Drawdown for the first round;
- PMRD2 - Percentage of Maximum Relative Drawdown for the second round;
- PMRD3 - Percentage of Maximum Relative Drawdown for the third round;
- PMRD4 - Percentage of Maximum Relative Drawdown for the fourth round.
The final sum of Profit Factor has priority 3:
- PFtotal = PF1+ PF2+ PF3+ PF4,
- where
- PFtotal - the final Profit Factor for the four rounds;
- PF1 - Profit Factor for the first round;
- PF2 - Profit Factor for the second round;
- PF3 - Profit Factor for the third round;
- PF4 - Profit Factor for the fourth round.
If the final sum of Percentage of Profit, Percentage of Maximum Relative Drawdown and Profit Factor coincides, the place in the total rating (not below the third place) is determined by lot. The lot method is chosen by the Administration of the Contest when such a situation develops.
3.5 Once a regular contest round has been finished Alpari displays on its website within 96 hours preliminary results of:
- a regular Contest round with the list of all transactions of the first five leaders;
- the whole Contest with the list of all transactions of three leaders in each round.
3.6 Preliminary results are subject to appeal during 144 hours from the moment a round is finished, and after that they become final and not subject to any appeal.
4. List of Prizes and Winners Awarding.
4.1 Following the results of the regular Contest round the following participants are awarded.
4.1.1 Participants who rank one of the first five places according to clause 3.3 get prizes in terms of money. Depending on the place Alpari credits participant's live account with the following sum of money:
| Place |
Prize sum of money |
| 1 |
2000 USD |
| 2 |
1000 USD |
| 3 |
700 USD |
| 4 |
500 USD |
| 5 |
300 USD |
If two or more participants claim for one and the same prize place, the prize fund of these places is divided into equal shares between these participants.
Note: There is an example of the prize fund distribution in such situation given in comments to Contest Regulations (Comment 4).
4.2 Following the results of the whole Contest participants who rank one of the first three places in cumulative rating are awarded in accordance with clause 3.4. They get prizes in terms of money. Depending on the place Alpari credits participant's live account the following sum of money:
| Place |
Prize sum of money |
| 1 |
5000 USD |
| 2 |
3000 USD |
| 3 |
1500 USD |
If two or more participants claim for one and the same prize place, the prize fund of these places is divided into equal shares between these participants.
Note: There is an example of the prize fund distribution in such situation given in comments to Contest Regulations (Comment 4).
4.3 Each participant awarded with a prize according to the final results has to open with Alpari a live account of either alpari.classic or alpari.micro type and e-mail at contest@alpari.ru a letter that contains:
- a) Login of the Contest account and password;
- b) Scanned copies of the passport pages with photo and registration;
- c) Live account number and login opened in MetaTrader in the name of the Contest participant with the specified account type (alpari.classic or alpari.micro) and the deposit currency.
Until this letter is received Alpari is unobligated to award this particular participant.
4.3.1 A participant awarded with this particular prize is not allowed to pass it to another person or demand crediting another live account, which is opened not in the name of the Contest awardee, with a prize sum of money.
4.3.2 Prize sums are deposited to the Customer's real account at the inner rate of Alpari, released daily in the Personal Area in section Exchange rates, commissions.
4.3.3 4.3.2 A participant may withdraw a prize sum of money at any time once it is deposited to the given live account in accordance with p. 4.3 by any of the specified ways.
4.4 The Contest winners agree to take part in Alpari promo actions, including interviews, photo-reports and announcing the public through mass media. Alpari is obliged not to mention real winners' data (including their full names) without agreement.
5. Complaints and Disputes.
5.1 All the complaints that may arise during the Contest or during the final arrangements will be sent by e-mail at contest@alpari.ru with the subject «Demo» Contest. All the complaints sent in other ways will not be considered (including complaints expressed in the forum).
5.2 If the participant has a complaint connected with incorrect calculation of the Contest account in any rating, besides all the requirements described in clause 5.1 he has to suggest also his own way of rating calculation.
5.3 The Contest Administration has a right to reject the claim in case the terms of clauses 5.1, 5.2 are not abided.
5.4 If the participant cannot make a deal on the Contest account due to a bad connection of both participant's and Alpari provider's side his/her complaint will not be considered.
5.5 If the participant is not satisfied with the quotes in MetaTrader: Alpari, his/her complaint will not be considered except obvious errors.
5.6 In any conflict situation Alpari will be the sole authority and discretion to make final decisions based on the «Terms of Business» and common market practice.
5.7 If facts of intentional usage of possible mistakes or inaccuracy in the formula of the participants rating calculation as well as in the Contest Regulations by the Contest participants are revealed Administration of the Contest has the right to give such participants a notice of their possible disqualification and in some cases disqualify such participants at once.
6. Force Majeure.
6.1 The Contest administration has the right to suspend or terminate the Contest if there are conditions which are unfair for the most participants.
6.2 The Contest administration has the right to suspend or terminate the Contest if it is impossible to continue the Contest due to the extreme circumstances, appeared after its beginning, which could not be foreseen or prevented by the Contest administration (distresses, wars, political conflicts).
6.3 In case of suspension or termination of the Contest its administration has the right to restart the Contest with the same participants (with either saved or restored data), or repeat the registration and start the Contest from the very beginning. In any case the final decision is made by the contest administration and all the details will be displayed beforehand at the website.
6.4 If the Contest has not been restarted due to some reasons and therefore has not been finished, the results of the participant will not be the evidence of his/her win and will not be considered as an argument for awarding.
7. Amendments.
7.1 If there is any obvious error in the method of selecting a winner Alpari will make the necessary amendments concerning the rating formulas.
7.2 Alpari may add any explaining articles to the present Regulations.
7.3 Final results of each finished round are not subject for revision.
Comments to the Regulations for the «Demo» Contest 2008 Alpari.
1. Gauges calculation formulas.
Percentage of Profit (%).
- Percent Profit = Total Net Profit / Initial Deposit *100 (%),
- where
- Initial Deposit - an opening deposit;
- Total Net Profit - net profit that demonstrates the difference between the gross profit and gross loss;
- Total Net Profit = Gross Profit - Gross Loss,
- where
- Gross Profit - a total profit, a profit of all the profitable deals;
- Gross Loss - a total loss, a loss of all the lost deals.
Percentage of Maximum Relative Drawdown (%).
