Contest Rules

1.1 To participate in the contest, you must be a real client of Alpari. If an individual has more than one classic.mt4 live account with Alpari, said individual has the right to participate in the contest on only one account.

1.2 Alpari staff and their relatives are not allowed to compete.

1.3 Corporate accounts are not allowed to participate in the contest.

1.4 To participate in the contest, an Alpari client must register. Registering once will register you in all four rounds. A contest participant has the right to register only one time.

Note: In order to change any personal information that you entered wrong during registration, you will need to send a scan of your passport (two-page spread with photo) to contest@alpari.ru. Please denote your pseudonym and any errors in your registration in the email. A participant can change their personal information up to 2 (two) weeks after their registration in the contest.

1.5 When registering, every Alpari client must enter the login and password to their classic.mt4 live account, as well as a pseudonym to participate in the competition.

Note: Your password will be used for authentication only at the moment of registration. You may change your password as soon as the registration is completed. All information in the registration form is protected by a 128-bits key of the HTTPS protocol, which prevents access by unauthorized persons.

1.6 Alpari is obliged to keep all contest participant information confidential. Thus, the only things published in the current and overall ratings are the pseudonym, country, and city of each participant.

1.7 After successfully completing registration, an Alpari client's account is put in the register of accounts participating in the "Jackpot" traders' contest.

1.8 To participate in the contest, an Alpari client must register on the company website. To participate in the following rounds, a client does not need to re-register. You can register in the current round at any time, referring to the schedule indicated in clause 1.13.

1.9 classic.mt4 accounts can participate in the contest if they have one of the following deposit currencies:

• USD (US Dollar);
• EUR (Euro);
• RUR (Russian Ruble).

1.10 The minimum deposit on a contest account, according to its currency, is:

• 1,000 USD;
• 700 EUR.

1.11 At the start of each round (23:00 GMT, when the daily report on completed transactions (Confirmation) is generated), the deposit on all accounts registered in the contest is checked. If the Equity is more or equal to the required minimum deposit, the account is transferred to the list of "Active Accounts" and is included in the rating calculation. Accounts that have passed this examination and been listed as an "Active Account" are not subjected to this check for the remaining duration of the current round.

Accounts whose Equity is less than the required minimum deposit are listed as "Inactive Accounts". The deposit of these accounts is checked daily when consolidating the Confirmation for the duration of the round.
A contest participant whose account is located on the "Inactive Accounts" list can deposit funds to his account during the current round and, in the case that one of the checks is successful, accounts with the required minimum deposit once again have the opportunity to participate in the contest.

 

1.12 If a Premium account ends up in the "Jackpot" Final Rating, 5 points (10% of the best result) will be added to its Final Rating. In order for the extra 5 points to be added to the Final Rating, the best result can be no more than 50 points. The extra points can be credited if the Equity on the Premium contestant's account is equal to or exceeds 50,000 USD or 40,000 EUR for a duration of 2 months each round.

1.13 A contest participant should attentively read these rules and participate in accordance with them. Unfamiliarity with the rules will not be considered a valid argument against a complaint.

1.14 The date and time for the start and end of registration and each round itself is detailed below:

ROUND 1	Registration from 01.18.2010 to 04.02.2010.	Start — 23:00, 01.18.2010. End — 23:00, 04.03.2010.
ROUND 2	Registration from 04.03.2010 to 06.25.2010.	Start — 23:00, 04.12.2010. End — 23:00, 06.26.2010.
ROUND 3	Registration from 06.26.2010 to 09.17.2010.	Start — 23:00, 07.05.2010 End — 23:00, 09.18.2010.
ROUND 4	Registration from 09.18.2010 to 12.17.2010.	Start — 23:00, 09.27.2010. End — 23:00, 12.18.2010.

Note: All time indicated in GMT.

2.1 A contest participant carries out all operations on their personal classic.mt4 live account.

2.2 Contest participants have the right to open positions of any size (within the bounds of the free margin on the trading account).

2.3 All transactions must be made in accordance with Alpari's «Terms of Business» and other related documents.

2.4 Refer to the Contract Specification page to familiarize yourself with the instruments that will be traded in the contest.

3.1 Determining the winner of a round is carried out as follows.

3.1.1 There are two indexes that determine the Final Rating:

• Recovery Factor (Priority A);
• Minimum Margin Level (Priority B).

The Recovery Factor index has top priority, followed by the Minimum Margin Level. Index calculation is accurate to the fourth place after the decimal point.

Note: The formulas for index calculation can be found in the commentary to the contest rules (Commentary #1).

3.1.2 There are four indexes that influence the formation of the Grey Rating:

• Percentage of Profit (Priority #1);
• Percentage of Maximum Relative Drawdown (Priority #2);
• Minimum Margin Level (Priority #3);
• Profit Factor (Priority #4).

The Percentage of Profit index has top priority, followed by the Percentage of Maximum Relative Drawdown, Minimum Margin Level, and Profit Factor, respectively. Index calculation is accurate to the fourth place after the decimal point.

Note: The formulas for index calculation can be found in the commentary to the contest rules (Commentary #1).

3.1.3 The final rating of a contest participant is calculated using the following method:

• a) The Grey Rating is formed, which includes participants with a positive result, i.e. the current liquid balance is more than the initial deposit (EquityBeginingTour). The Grey Rating is formed in accordance with index priority level (see clause 3.1.2). If the Percentage of Profit reading of two or more participants is the same, then placement in the Grey Rating is determined by the Percentage of Maximum Relative Drawdown (Priority 2). In the case that both the Percentage of Profit and Percentage of Maximum Relative Drawdown readings are the same for two or more participants, then Grey Rating placement is determined by the Minimum Margin Level index (Priority 3). If the first three priority readings are the same for two or more participants, then placement in the Grey Rating is determined by the Profit Factor index (Priority 4). If ALL the priority readings are the same for two or more participants, the participant with the smaller login number to MetaTrader 4 takes a higher place in the rating.
• b) The Final Rating is calculated for each participant in the Top 25 of the Grey Rating, which earns them rating points on each index from point 3.1.1.
• c) The participant who is in first place in the final rating of the Recovery Factor index (i.e. has the best reading of that index) gets 25 points, the second placeholder 24 points and so on until in 25th place gets 1 point. In the case that two or more participants have the same Recovery Factor reading, the participant who has a higher standing in the Grey Rating takes the higher place.
• d) The participant who is in first place in the final rating of the Minimum Margin Level index (i.e. has the best reading of that index) gets 25 points, the second placeholder 24 points and so on until 25th place gets 1 point. In the case that two or more participants have the same Minimum Margin Level reading, the participant who has a higher standing in the Grey Rating takes the higher place.
• e) The sum of all points becomes a participant's Final Rating (IR).

Note: An example of the Final Rating calculation can be found in the commentary to the contest rules (Commentary #2).

3.1.4 In the case that two or more participants have the same Final Rating, the participant with the highest reading of an index (in order of priority) takes the higher place (see clause 3.1.1). For example, if the Final Rating of two or more participants is the same, then their placement in the rating is determined by the Recovery Factor index, which is Priority A. In the case that the Recovery Factor reading is also the same, placement in the rating is determined by the Minimum Margin Level (Priority B).

3.2 The determination of the overall winner from the results of the entire contest is carried out as follows.

3.2.1 A list of the top contenders is formed from all contest participants who have a Final Rating from a previous round that is larger than zero.

3.2.2 An Overall Rating (SR) is calculated for every participant included on the list of top contenders. The Overall Rating is the sum of final ratings from each round:

• SR=IR1+IR2+IR3+IR4,
• where
• SR — Overall 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.

3.2.3 In the case that two or more participants have the same Overall Rating, the participant with the higher sum of high priority index readings (see clause 3.1.1) take the higher place.

Priority A is the total sum of the Recovery Factor index:

• RFtotal=RF1+RF2+RF3+RF4,
• where
• RFtotal — Final Recovery Factor reading for all four rounds;
• RF1 — Recovery Factor reading for the first round;
• RF2 — Recovery Factor reading for the second round;
• RF3 — Recovery Factor reading for the third round;
• RF4 — Recovery Factor reading for the fourth round.

Priority B is the total sum of the Minimum Margin Level index:

• MMLtotal=MML1+MML2+MML3+MML4,
• where
• MMLtotal — Final Minimum Margin Level for all four rounds;
• MML1 — Minimum Margin Level for the first round;
• MML2 — Minimum Margin Level for the second round;
• MML3 — Minimum Margin Level for the third round;
• MML4 — Minimum Margin Level for the fourth round.

In the case that the total sums of the Recovery Factor annd Minimum Margin Level reading are the same, first place in the Overall Rating is determined by a drawing of lots. The method for drawing lots is determined by the Contest Administration if such a situation arises.

3.3 The overall contest winner is the participant who has the highest standing in the Overall Rating in accordance with clause 3.2.

3.4 Alpari publishes the preliminary results (without disclosure of the transaction register) on the company website within 96 hours of the end of a contest round.

3.5 Preliminary results are subject to appeal for 144 hours after the end of the contest round, after which they become final and are no longer subject to appeal.

3.6 Requests for the credit of prizes are accepted for 60 days after the end of the round.

4.1 According to the results of the round, the following participants are awarded.

4.1.1 Participants holding one of the Top 10 places, in accordance with clause 3.1, receive cash prizes in one of the following sums (dependent on placement in the results), which Alpari credits to the participant's live account used in the contest:

Place	Prize
1st	6,000 USD
2nd	3,600 USD
3rd	2,400 USD
4th	1,800 USD
5th	1,200 USD
6th	850 USD
7th	600 USD
8th	350 USD
9th	250 USD
10th	150 USD

If two or more participants end up in the same prizewinning place (for example, two second place winners), the prize pool reserved for that place is shared evenly between those participants.

Note: There is an example of dividing a prize pool in the commentary to the contest rules (Commentary #3).

4.1.2 A participant who is awarded with a prize is not allowed to demand crediting of the prize to another live account, in particular an account that is not in the name of the participant. The prize will only be credited to the live account the participant was using during the contest round.

4.1.3 A participant can withdraw the prize at any time after the prize is credited to the live account, in accordance with clause 4.1, using any of the withdrawal methods listed on the website.

4.2 According to the results of the entire contest, the participant who is ranked in first place overall is awarded in accordance with clause 3.3. The overall winner gets the grand prize: a PAMM-Account with 50,000 USD as the Manager's Capital.

4.2.1 The overall winner is awarded the grand prize in accordance with clause 3.6. The winner is required to send the following materials no later than 60 days after the end of the 4th round to contest@alpari.ru:

a) A scanned copy of their passport (two-page spread with photo and registration);

b) User name on the Alpari Forum.

Until this email is received, Alpari remains unobligated to award this participant.

Upon receiving the email with the content listed above, Alpari will send the contest winner a letter to the email address the participant indicated at registration containing:

a) The account number and password for authorization in the Personal Area of the classic.mt4 account;

b) Login and password for authorization in the MetaTrader terminal on the classic.mt4 account;  

c) Login and password for authorization in the MetaTrader terminal on the pamm.mt4 account.

4.2.2 The Manager's Capital credited to the pamm.mt4 account is non-withdrawable.

4.2.3 The capital of a Managed Account pamm.mt4 can not be changed.

4.2.4 The Trading Session is one quarter.

4.2.5 In the case of cancellation of the awarded PAMM-account, the Manager's Capital can be withdrawn, after the deduction of the 50,000 USD prize.

4.3 Prizes are credited to a client's live account according to Alpari's internal rate, which is published daily in the Personal Area inside the Conversion Rates and Fees section.

4.4 Winners and runners-up are obligated to participate in Alpari promotional events, interviews, photo essays,and public announcements on current promtions. This being said, Alpari is obliged to not to mention any personal data (including full names) of any participants without their consent.

4.5. In the case of refusal to participate in promotional events, interviews, public announcements, etc., the Contest Administration has the right to disqualify a participant and give the prize to the participant in the next place in the Overall Rating.

5.1 All complaints that arise during the contest which are associated with operations on a trading account are considered in accordance with the «Terms of Business».

5.2 All complaints addressing the results of a round or the entire contest should be sent to contest@alpari.ru noting the contest: "Jackpot". Complaints sent by another method (particularly on the Alpari Forum), will not be taken under consideration.

5.3 In the case that a participant has a complaint about the incorrect, in his opinion, reflection of his contest account in either of the ratings (Grey or Final), the participant must, along with all the requirements described in clause 5.2, include their version of the rating calculation, on the basis of which the participant thinks that their account rating was published on the Alpari website incorrectly.

5.4 The Contest Administration has the right to reject a complaint in the case that it does not conform to the terms specified in clauses 5.2, 5.3.

5.5 In any disputes, the Contest Administration will be the sole authority to make final decisions based on common market practice.

5.6 If it is revealed that a participant is intentionally using mistakes or inaccuracies in the rating formula calculation or the contest rules to raise the rating of their account, the Contest Administration has the right to warn this participant of their potential disqualification, and in some cases, disqualify the participant.

6.1 The Contest Administration has the right to suspend or terminate the contest if a situation arises where the conditions are unfair for most participants.

6.2 The Contest Administration has the right to suspend or terminate the contest if its continuation becomes impossible due to extreme circumstances, that arose after the beginning of the contest, which could in no way be foreseen or prevented by the Contest Administration (natural disasters, war, political conflict, etc.).

6.3 In the case of suspension or termination of the contest, the Contest Administration has the right to either resume the contest with the same participants (having saved or restored account data at the moment of the contest suspension), or hold registration again and start the contest again from the beginning. In any case, the final decision will be made by Contest Administration and all information on this decision will be on the website within reasonable notice.

6.4 If the contest for any reason will not be continued, and respectively, has not been seen through to the end, the participants' results at the moment of the suspension or termination or the contest will not be considered as a basis to warrant awards.

7.1 If there is any glaring error in the criteria for selecting a winner, Alpari will make necessary changes in the formulas for the rating calculation.

7.2 The Contest Rules may be supplemented with any necessary explanatory documents.

7.3 The final results of each round are not subject to revision.

Recovery Factor.

The Recovery Factor index describes the relationship between the Percentage of Profit and the Percentage of Maximum Relative Drawdown.

• Recovery Factor = Percent Profit / MaxRelativeDrawdown

Percentage of Profit (%).

• Percent Profit = (EquityDaily-EquityBeginingTour-(Deposit-Withdrawal)) / (EquityBeginingTour+Deposit)*100(%),
• where
• EquityBeginingTour — the initial deposit (Equity at the time the Confirmation is generated);
• EquityDaily — funds (Equity) at the time the Confirmation is generated;
• Deposit — funds deposited to the account during the round;
• Withdrawal — funds withdrawn from the account during the round (at absolute value);
• Equity — current account balance;
• Equity = Balance + Floating Profit- Floating Loss,
• Floating Profit/Loss — non-fixed profits/losses on open positions under current rates. 

Note: Depositing funds worsens the Percentage of Profit index.

Percentage of Maximum Relative Drawdown (%).

Drawdown is the difference between one of the highest peaks on the EquityDaily movement chart and the closest lowest peak.

• Drawdown = MaximumPeak — NextMinimumPeak,
• where
• MaximumPeak is the high extreme on the EquityDaily movement chart;
• NextMinimumPeak is the closet low extreme to the high extreme on the EquityDaily movement chart.

An example of the Drawdown calculation for the EquityDaily movement chart (Figure 1) is shown below:

DrawDown1 = H1 — L1 = 10012 — 9580 = 432
DrawDown2 = H2 — L2 = 10036 — 9534 = 502
DrawDown3 = H3 — L3 = 10404 — 9590 = 814
DrawDown4 = H4 — L4 = 10772 — 9952 = 820

Note: Withdrawing funds worsens the Percentage of Maximum Relative Drawdown index.

MaxRelativeDrawdown (%) determines which maximum losses will be fixed on the account.

In Figure 1, the main stages of the Relative Drawdown movement are shown in numeric form . The final value of the Relative Drawdown is the drawdown under number «3».

• MaxRelativeDrawdown (%) = Max of (Drawdown / MaximumPeak * 100) (%),
• where
• Max of — «the maximum of»;
• Drawdown — drawdown;
• Maximum Peak — the high extreme on the EquityDaily movement chart.

An example of the Relative Drawdown calculation for the EquityDaily movement chart (Figure 1) is shown below:

PercentDrawDown1 = (H1 — L1) / H1 х 100 = (10012 — 9580) / 10012 х 100 = 4.31%
PercentDrawDown2 = (H2 — L2) / H2 х 100 = (10036 — 9534) / 10036 х 100 = 5%
PercentDrawDown3 = (H3 — L3) / H3 х 100 = (10404 — 9590) / 10404 х 100 = 7.82%
PercentDrawDown4 = (H4 — L4) / H4 х 100 = (10772 — 9952) / 10772 х 100 = 7.61%
Relative Drawdown = 7.82%

Note: In this example, Relative Drawdown «3» has a lower absolute value than the absolute value of Drawdown «4», but a higher percentage value.

Minimum Margin Level

Minimum Margin Level reflects the minimum margin level at the moment a position is opened for the duration of the contest round.

• MinМаrginLevel = Min of (МаrginLevelDeal),
• where
• Min of — «minimum of»;
• МаrginLevelDeal — expresses the relationship of Equity to necessary margin at the moment a position is opened (immediately after opening), or at the start of a round;
• МаrginLevelDeal = Equity / Margin * 100 (%);
• Equity — current account balance;
• Equity = Balance+ Floating Profit- Floating Loss;
• Floating Profit/Loss — non-fixed profits/losses on open positions under current rates;
• Мargin — current total deposit.

Profit Factor

Profit Factor shows profitability, the relationship between total profits and total losses:

• Profit Factor = Gross Profit / Gross Loss,
• where
• Gross Profit — total profit, the sum of all daily profits;
• Gross Loss — total loss, the sum of all daily losses;
• Daily profits/losses = EquityDaily (n) — EquityDaily (n-1);
• n — date of Confirmation generation.

Note: Deposit or withdrawal of funds registers on the next day.

Place	Account	Pseudonym	Recovery Factor (Score)	Min. Margin Level% (Score)	Final Rating
1st	12345	Gatti	33.93 (18)	729 (21)	39

• IR = RFp + MLp = 18 + 21 = 39,
• where
• IR — Final Rating;
• RFp — Number of points (score) for Recovery Factor;
• MLp — Number of points (score) for Minimum Margin Level.

Place	Pseudonym	Recovery Factor (Score)	Min. Margin Level% (Score)	Final Rating	Prize
1st	Gatti	-	-	45	6,000 USD
2nd	Gatti1	-	-	43	3,600 USD
3rd	Gatti2	-	-	39	2,400 USD
4th	Gatti3	-	-	36	1,800 USD
5th	Gatti4	-	-	33	1,200 USD
6th	Gatti6	-	-	30	850 USD
7th	Gatti7	-	-	29	600 USD
8th	Gatti8	-	-	28	350 USD
9	Gatti9	33.45 (9)	828.03 (18)	27	250 USD
10	Gatti10	33.45 (9)	828.03 (18)	27	150 USD
11	Gatti11	33.45 (9)	828.03 (18)	27	-

In this example, participants Gatti9, Gatti10 и Gatti11 have the same Final Rating and absolutely equal points for both the trading indexes. Accordingly, the prize pool that is designated for their prizewinning places (9th and 10th) is shared equally between three participants.

Prize = prize pool / number of contenders.

In this example, each participant receives a prize in the amount of (150 + 250 + 0) / 3 = 133 USD.

1.1 To participate in the contest, you must be a real client of Alpari. If an individual has more than one micro.mt4 live account with Alpari, said individual has the right to participate in the contest on only one account.

1.2 Alpari staff, their relatives, and trading accounts registered in the "Formula FX" contest are not allowed to compete.

Note: In the case that your trading account is already registered in the "Formula FX" contest, you need to open a new micro.mt4 account to participate in "Crazy Pips".

1.3 To participate in the contest, an Alpari client must register. Registering once will register you in all four rounds. A contest participant has the right to register only one time.

Note: In order to change any personal information that you entered wrong during registration, you will need to send a scan of your passport (two-page spread with photo) to contest@alpari.ru. Please denote your pseudonym and any errors in your registration in the email. A participant can change their personal information up to 2 (two) weeks after their registration in the contest.

1.4 When registering, every Alpari client must enter the login and password to their micro.mt4live account, as well as a pseudonym to participate in the competition.

Note: Your password will be used for authentication only at the moment of registration. You may change your password as soon as the registration is completed. All information in the registration form is protected by a 128-bits key of the HTTPS protocol, which prevents access by unauthorized persons.

1.5 Alpari is obliged to keep all contest participant information confidential. Thus, the only things published in the current and overall ratings are the pseudonym, country, and city of each participant.

1.6 After successfully completing registration, an Alpari client's account is put in the register of accounts participating in the "Crazy Pips" traders' contest.

1.7 To participate in the contest, an Alpari client must register on the company website. To participate in the following rounds, a client does not need to re-register: you can register in the current round at any time, referring to the schedule indicated in clause 1.12.

1.8 micro.mt4 accounts can participate in the contest if they have one of the following deposit currencies:

• USD (US Dollar);
• EUR (Euro);
• RUR (Russian Ruble).

1.9 The minimum deposit on a contest account, according to its currency, is:

• 100 USD;
• 70 EUR.

1.10 At the start of each round (23:00 GMT, when the daily report on completed transactions (Confirmation) is generated), the deposit on all accounts registered in the contest is checked. If the Equity is more or equal to the required minimum deposit, the account is transferred to the list of "Active Accounts" and is included in the rating calculation. Accounts that have passed this examination and listed as an "Active Account", are not subjected to this check for the remaining duration of the current round.
Accounts whose Equity is less than the required minimum deposit are listed as "Inactive Accounts". The deposit of these accounts is checked daily when consolidating the Confirmation for the duration of the round.
A contest participant, whose account is located on the "Inactive Accounts" list, can deposit funds to his account during the current round and, in the case that one of the checks is successful, accounts with the required minimum deposit once again have the opportunity to participate in the contest.

1.11 A contest participant should attentively read these rules and participate in accordance with them. Unfamiliarity with the rules will not be considered a valid argument against a complaint.

1.12 The date and time for the start and end of registration and each round itself is detailed below:

ROUND 1	Registration from 01.18.2010 to 04.02.2010.	Start — 23:00, 01.18.2010. End — 23:00, 04.03.2010.
ROUND 2	Registration from 04.03.2010 to 06.25.2010.	Start — 23:00, 04.12.2010. End — 23:00, 06.26.2010.
ROUND 3	Registration from 06.26.2010 to 09.17.2010.	Start — 23:00, 05.07.2010. End — 23:00, 18.09.2010.
ROUND 4	Registration from 09.18.2010 to 12.17.2010.	Start — 23:00, 09.27.2010. End — 23:00, 12.18.2010.

Note: All time indicated in GMT.

2.1 A contest participant carries out all operations on their personal micro.mt4 live account.

2.2 Contest participants have the right to open positions of any size (within the bounds of the free margin on the trading account and restrictions on micro.mt4 accounts).

2.3 All transactions must be made in accordance with Alpari's «Terms of Business» and other related documents.

2.4 Refer to the Contract Specification» page to familiarize yourself with the instruments that will be traded in the contest.

3.1 Determining the winner of a round is carried out as follows.

3.1.1 There are two indexes that determine the Final Rating:

• Recovery Factor (Priority A);
• Minimum Margin Level (Priority B).

The Recovery Factor index has top priority, followed by the Minimum Margin Level. Index calculation is accurate to the fourth place after the decimal point.

Note: The formulas for index calculation can be found in the commentary to the contest rules (Commentary #1).

3.1.2 There are four indexes that influence the formation of the Grey Rating:

• Percentage of Profit (Priority #1);
• Percentage of Maximum Relative Drawdown (Priority #2);
• Minimum Margin Level (Priority #3);
• Profit Factor (Priority #4).

The Percentage of Profit index has top priority, followed by the Percentage of Maximum Relative Drawdown, Minimum Margin Level, and Profit Factor, respectively. Index calculation is accurate to the fourth place after the decimal point.

Note: The formulas for index calculation can be found in the commentary to the contest rules (Commentary #1).

3.1.3 The final rating of a contest participant is calculated using the following method:

• a) The Grey Rating is formed, which includes participants with a positive result, i.e. the current liquid balance is more than the initial deposit (EquityBeginingTour). The Grey Rating is formed in accordance with index priority level (see clause 3.1.2). If the Percentage of Profit reading of two or more participants is the same, then placement in the Grey Rating is determined by the Percentage of Maximum Relative Drawdown (Priority 2). In the case that both the Percentage of Profit and Percentage of Maximum Relative Drawdown readings are the same for two or more participants, then Grey Rating placement is determined by the Minimum Margin Level index (Priority 3). If the first three priority readings are the same for two or more participants, then placement in the Grey Rating is determined by the Profit Factor index (Priority 4). If ALL the priority readings are the same for two or more participants, the participant with the smaller login number to MetaTrader 4 takes a higher place in the rating.
• b) The Final Rating is calculated for each participant in the Top 25 of the Grey Rating, which earns them rating points on each index from clause 3.1.1.
• c) The participant who is in first place in the final rating of the Recovery Factor index (i.e. has the best reading of that index) gets 25 points, the second placeholder 24 points and so on until 25th place gets 1 point. In the case that two or more participants have the same Recovery Factor reading, the participant who has a higher standing in the Grey Rating takes the higher place.
• d) The participant who is in first place in the final rating of the Minimum Margin Level index (i.e. has the best reading of that index) gets 25 points, the second placeholder 24 points and so on until 25th place gets 1 point. In the case that two or more participants have the same Minimum Margin Level reading, the participant who has a higher standing in the Grey Rating takes the higher place.
• e) The sum of all points becomes a participant's Final Rating (IR).

Note: An example of the Final Rating calculation can be found in the commentary to the contest rules (Commentary #2).

3.1.4 In the case that two or more participants have the same Final Rating, the participant with the highest reading of an index (in order of priority) takes the higher place (see clause 3.1.1). For example, if the Final Rating of two or more participants is the same, then their placement in the rating is determined by the Recovery Factor index, which is Priority A. In the case that the Recovery Factor reading is also the same, placement in the rating is determined by the Minimum Margin Level (Priority B).

3.2 The determination of the overall winner from the results of the entire contest is carried out as follows.

3.2.1 A list of the top contenders is formed from all contest participants who have a Final Rating from a previous round that is larger than zero.

3.2.2 An Overall Rating (SR) is calculated for every participant included on the list of top contenders. The Overall Rating is the sum of final ratings from each round:

• SR=IR1+IR2+IR3+IR4,
• where
• SR — Overall 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.

3.2.3 In the case that two or more participants have the same Overall Rating, the participant with the higher sum of high priority index readings (see clause 3.1.1) take the higher place.

Priority A is the total sum of the Recovery Factor index:

• RFtotal=RF1+RF2+RF3+RF4,
• where
• RFtotal — Final Recovery Factor reading for all four rounds;
• RF1 — Recovery Factor reading for the first round;
• RF2 — Recovery Factor reading for the second round;
• RF3 — Recovery Factor reading for the third round;
• RF4 — Recovery Factor reading for the fourth round.

Priority B is the total sum of the Minimum Margin Level index:

• MMLtotal=MML1+MML2+MML3+MML4,
• where
• MMLtotal — Final Minimum Margin Level for all four rounds;
• MML1 — Minimum Margin Level for the first round;
• MML2 — Minimum Margin Level for the second round;
• MML3 — Minimum Margin Level for the third round;
• MML4 — Minimum Margin Level for the fourth round.

In the case that the total sums of the Recovery Factor and Minimum Margin Level reading are the same, first place in the Overall Rating is determined by a drawing of lots. The method for drawing lots is determined by the Contest Administration if such a situation arises.

3.3 The overall contest winner is the participant who has the highest standing in the Overall Rating in accordance with clause 3.2

3.4 Alpari publishes the preliminary results (without disclosure of the transaction register) on the company website within 96 hours of the end of a contest round.

3.5 Preliminary results are subject to appeal for 144 hours after the end of the contest round, after which they become final and are no longer subject to appeal.

3.6 Requests for the credit of prizes are accepted for 60 days after the end of the round.

4.1 According to the results of the round, the following participants are awarded.

4.1.1 Participants holding one of the Top 10 places, in accordance with clause 3.1, receive cash prizes in one of the following sums (dependent on placement in the results), which Alpari credits to the participant's live account used in the contest:

Place	Prize
1st	3,500 USD
2nd	2,500 USD
3rd	1,800 USD
4th	1,200 USD
5th	600 USD
6th	350 USD
7th	250 USD
8th	200 USD
9th	150 USD
10th	100 USD

If two or more participants end up in the same prizewinning place (for example, two second place winners), the prize pool reserved for that place is shared evenly between those participants.

Note: There is an example of dividing a prize pool in the commentary to the contest rules (Commentary #3).

4.2 According to the results of the entire contest, the Top 3 participants are awarded in accordance with clause 3.2. They receive cash prizes in one of the following sums (dependent on placement in the results), which Alpari credits to the participant's live account used in the contest:

Place	Prize
1st	8,500 USD
2nd	6,000 USD
3rd	3,500 USD

If two or more participants end up in the same prizewinning place (for example, two second place winners), the prize pool reserved for that place is shared evenly between those participants.

Note: There is an example of dividing a prize pool in the commentary to the contest rules (Commentary #3).

4.3 A participant who is awarded with a prize is not allowed to demand crediting of the prize to another live account, in particular an account that is not in the name of the participant. The prize will only be credited to the live account the participant was using during the contest round.

4.4 Prizes are credited to a client's live account according to Alpari's internal rate, which is published daily in the Personal Area inside the Conversion Rates and Fees section.

4.5 A participant can withdraw the prize at any time after the prize is credited to the live account, in accordance with clauses 4.1, 4.2 using any of the withdrawal methods listed on the website.

4.6 Winners and runners-up are obligated to participate in Alpari promotional events, interviews, photo essays,and public announcements on current promtions. This being said, Alpari is obliged to not to mention any personal data (including full names) of any participants without their consent.

4.7 In the case of refusal to participate in promotional events, interviews, public announcements, etc., the Contest Administration has the right to disqualify a participant and give the prize to the participant in the next place in the Overall Rating.

5.1 All complaints that arise during the contest which are associated with operations on a trading account are considered in accordance with the «Terms of Business».

5.2 All complaints addressing the results of a round or the entire contest should be sent to contest@alpari.ru noting the contest: "Crazy Pips". Complaints sent by another method (particularly on the Alpari Forum), will not be taken under consideration.

5.3 In the case that a participant has a complaint about the incorrect, in his opinion, reflection of his contest account in either of the ratings (Grey or Final), the participant must, along with all the requirements described in clause 5.2, include their version of the rating calculation, on the basis of which the participant thinks that their account rating was published on the Alpari website incorrectly.

5.4 The Contest Administration has the right to reject a complaint in the case that it does not conform to the terms specified in clauses 5.2, 5.3.

5.5 In any disputes, the Contest Administration will be the sole authority to make final decisions based on common market practice.

5.6 If it is revealed that a participant is intentionally using mistakes or inaccuracies in the rating formula calculation or the contest rules to raise the rating of their account, the Contest Administration has the right to warn this participant of their potential disqualification, and in some cases, disqualify the participant.

6.1 The Contest Administration has the right to suspend or terminate the contest if a situation arises where the conditions are unfair for most participants.

6.2 The Contest Administration has the right to suspend or terminate the contest if its continuation becomes impossible due to extreme circumstances, that arose after the beginning of the contest, which could in no way be foreseen or prevented by the Contest Administration (natural disasters, war, political conflict, etc.).

6.3 In the case of suspension or termination of the contest, the Contest Administration has the right to either resume the contest with the same participants (having saved or restored account data at the moment of the contest suspension), or hold registration again and start the contest again from the beginning. In any case, the final decision will be made by Contest Administration and all information on this decision will be on the website within reasonable notice.

6.4 If the contest for any reason will not be continued, and respectively, has not been seen through to the end, the participants' results at the moment of the suspension or termination or the contest will not be considered as a basis to warrant awards.

7.1 If there is any glaring error in the criteria for selecting a winner, Alpari will make necessary changes in the formulas for the rating calculation.

7.2 The Contest Rules may be supplemented with any necessary explanatory documents.

7.3 The final results of each round are not subject to revision.

Recovery Factor.

The Recovery Factor index describes the relationship between the Percentage of Profit and the Percentage of Maximum Relative Drawdown.

• Recovery Factor = Percent Profit / MaxRelativeDrawdown

Percentage of Profit (%).

• Percent Profit = (EquityDaily-EquityBeginingTour-(Deposit-Withdrawal)) / (EquityBeginingTour+Deposit)*100(%),
• where
• EquityBeginingTour — the initial deposit (Equity at the time the Confirmation is generated);
• EquityDaily — funds (Equity) at the time the Confirmation is generated;
• Deposit — funds deposited to the account during the round;
• Withdrawal — funds withdrawn from the account during the round (at absolute value);
• Equity — current account balance;
• Equity = Balance + Floating Profit- Floating Loss,
• Floating Profit/Loss — non-fixed profits/losses on open positions under current rates. 

Note: Depositing funds worsens the Percentage of Profit index.

Percentage of Maximum Relative Drawdown (%).

Drawdown is the difference between one of the highest peaks on the EquityDaily movement chart and the closest lowest peak.

• Drawdown = MaximumPeak — NextMinimumPeak,
• where
• MaximumPeak is the high extreme on the EquityDaily movement chart;
• NextMinimumPeak is the closet low extreme to the high extreme on the EquityDaily movement chart.

An example of the Drawdown calculation for the EquityDaily movement chart (Figure 1) is shown below:

DrawDown1 = H1 — L1 = 10012 — 9580 = 432
DrawDown2 = H2 — L2 = 10036 — 9534 = 502
DrawDown3 = H3 — L3 = 10404 — 9590 = 814
DrawDown4 = H4 — L4 = 10772 — 9952 = 820

Note: Withdrawing funds worsens the Percentage of Maximum Relative Drawdown index.

MaxRelativeDrawdown (%) determines which maximum losses will be fixed on the account.

In Figure 1, the main stages of the Relative Drawdown movement are shown in numeric form . The final value of the Relative Drawdown is the drawdown under number «3».

• MaxRelativeDrawdown (%) = Max of (Drawdown / MaximumPeak * 100) (%),
• where
• Max of — «the maximum of»;
• Drawdown — drawdown;
• Maximum Peak — the high extreme on the EquityDaily movement chart.

An example of the Relative Drawdown calculation for the EquityDaily movement chart (Figure 1) is shown below:

PercentDrawDown1 = (H1 — L1) / H1 х 100 = (10012 — 9580) / 10012 х 100 = 4.31%
PercentDrawDown2 = (H2 — L2) / H2 х 100 = (10036 — 9534) / 10036 х 100 = 5%
PercentDrawDown3 = (H3 — L3) / H3 х 100 = (10404 — 9590) / 10404 х 100 = 7.82%
PercentDrawDown4 = (H4 — L4) / H4 х 100 = (10772 — 9952) / 10772 х 100 = 7.61%
Relative Drawdown = 7.82%

Note: In this example, Relative Drawdown «3» has a lower absolute value than the absolute value of Drawdown «4», but a higher percentage value.

Minimum Margin Level

Minimum Margin Level reflects the minimum margin level at the moment a position is opened for the duration of the contest round.

• MinМаrginLevel = Min of (МаrginLevelDeal),
• where
• Min of — «minimum of»;
• МаrginLevelDeal — expresses the relationship of Equity to necessary margin at the moment a position is opened (immediately after opening), or at the start of a round;
• МаrginLevelDeal = Equity / Margin * 100 (%);
• Equity — current account balance;
• Equity = Balance+ Floating Profit- Floating Loss;
• Floating Profit/Loss — non-fixed profits/losses on open positions under current rates;
• Мargin — current total deposit.

Profit Factor

Profit Factor shows profitability, the relationship between total profits and total losses:

• Profit Factor = Gross Profit / Gross Loss,
• where
• Gross Profit — total profit, the sum of all daily profits;
• Gross Loss — total loss, the sum of all daily losses;
• Daily profits/losses = EquityDaily (n) — EquityDaily (n-1);
• n — date of Confirmation generation.

Note: Deposit or withdrawal of funds registers on the next day.

Place	Account	Pseudonym	Recovery Factor (Score)	Min. Margin Level% (Score)	Final Rating
1st	12345	Gatti	33.93 (18)	729 (21)	39

• IR = RFp + MLp = 18 + 21 = 39,
• where
• IR — Final Rating;
• RFp — Number of points (score) for Recovery Factor;
• MLp — Number of points (score) for Minimum Margin Level.

Place	Pseudonym	Recovery Factor (Score)	Min. Margin Level% (Score)	Final Rating	Prize
1st	Gatti	-	-	45	6,000 USD
2nd	Gatti1	-	-	43	3,600 USD
3rd	Gatti2	-	-	39	2,400 USD
4th	Gatti3	-	-	36	1,800 USD
5th	Gatti4	-	-	33	1,200 USD
6th	Gatti6	-	-	30	850 USD
7th	Gatti7	-	-	29	600 USD
8th	Gatti8	-	-	28	350 USD
9th	Gatti9	33.45 (9)	828.03 (18)	27	250 USD
10th	Gatti10	33.45 (9)	828.03 (18)	27	150 USD
11th	Gatti11	33.45 (9)	828.03 (18)	27	-

In this example, participants Gatti9, Gatti10 и Gatti11 have the same Final Rating and absolutely equal points for both the trading indexes. Accordingly, the prize pool that is designated for their prizewinning places (9th and 10th) is shared equally between three participants.

Prize = prize pool / number of contenders.

In this example, each participant receives a prize in the amount of (150 + 250 + 0) / 3 = 133 USD.

1.1 To participate in the contest, a real client of Alpari must register on the company website.

1.2 Alpari staff and their relatives are not allowed to compete.

1.3 Every participant must fill in their full name, surname, email, contact phone, passport information (this information will not be disclosed), and also a pseudonym to participate in the contest in the registration form. After completing the registration form, four contest demo accounts are opened for the participant (с валютой депозита USD) to participate in the first, second, third, and fourth rounds respectively. Every contest account has its own unique login and password.

Note: In order to change any personal information that you entered wrong during registration, you will need to send a scan of your passport (two-page spread with photo) to contest@alpari.ru. Please denote your pseudonym and any errors in your registration in the email. A participant can change their personal information up to 2 (two) weeks after their registration in the contest.

1.4 Every participant is given 100,000 USD as an initial "virtual deposit".

1.5 A contest participant has the right to register only one time. You can register in the current round at any time, referring to the schedule indicated in clause 1.8.

1.6 If you lose any contest information (unique login number and/or password), you must send a you will need to send a scan of your passport (two-page spread with photo) to contest@alpari.ru specifying your pseudonym for participation in "Virtual Reality".

1.7 A contest participant should attentively read these rules and participate in accordance with them. Unfamiliarity with the rules will not be considered a valid argument against a complaint.

1.8 The date and time for the start and end of registration and each round itself is detailed below:

ROUND 1	Registration from 01.18.2010 to 04.02.2010.	Start — 23:00, 01.18.2010. End — 23:00, 04.03.2010.
ROUND 2	Registration from 04.03.2010 to 06.25.2010.	Start — 23:00, 04.12.2010. End — 23:00, 06.26.2010.
ROUND 3	Registration from 06.26.2010 to 09.17.2010.	Start — 23:00, 07.05.2010. End — 23:00, 09.18.2010.
ROUND 4	Registration from 09.18.2010 to 12.17.2010.	Start — 23:00, 09.27.2010. End — 23:00, 12.18.2010.

Note: All time indicated in GMT.

2.1 Trading operations on the contest account are carried out on instruments on the international currency market FOREX, which are accessible for trading on classic.mt4 accounts.

2.2 Contest participants can trade with "virtual money" on their "virtual account" only through the через MetaTrader: Alpari informational trading terminal (version 4.00 build 220 and higher). Contest participants are not allowed to complete operations by telephone through the Alpari operating service.

2.3 To complete operations on the contest account, a participant must install the MetaTrader: Alpari platform (version 4.00 build 220 and higher). The server address that hosts contest accounts is: 217.74.44.37:443, 212.65.93.9:443 or «Alpari-Contest».

2.4 Leverage on these accounts is 1:10.

2.5 The Contest Administration has the right to disqualify a participant(s) if:

• A participant is working off more than one contest demo account;
• More than two participants are working from the same IP-address;
• A participant completes an operation via an anonymous HTTP/socks proxy-server.

Participants using dynamic IP-аddresses should be aware of the possible risks, as mentioned in clause 2.5. In connection with this, the Contest Administration strongly recommends using a static IP-address to participate in the "Virtual Reality" contest. A participant who has been disqualified is automatically removed from the list of contenders in the current round, following rounds, and as a result, from the whole competition.

2.6 All transactions must be made in accordance with the provisions in sections 2, 3, 4, 5 and 6 of the «Terms of Business», except for that on the contest account, the word "dealer" will mean "server software".

2.7 Participants are not allowed to use proxy, HTTPort, SOCKScap or any other similar programs except in the situation that working directly is impossible (443 port is closed). In this case, the participant needs to indicate the name, address, and telephone of the organization, from whose local network the participant plans to complete operations on the contest account. The participant needs to send this information to contest@alpari.ru. The participant then must use this organization's HTTP/socks server to complete operations on the contest account.

2.8 A participant can make transactions on the contest account only within the temporal boundaries of a contest round. The date and time for the start and end of each round is specified in clause 1.8.

3.1 If a participant has an open position on an instrument at the moment the round ends, the position will be closed through the following method:

• Open Buy position — closed at the last Bid price on MetaTrader: Alpari at the moment the contest round ends;
• Open Sell position — closed at the last Ask price on MetaTrader: Alpari at the moment the contest round ends.

3.2 The Contest Administration carries out the operations described in clause 3.1 48 hours after the moment the contest round ends and only after their completion, will start the process of determining the winners.

3.3 Determining the winner of a round is carried out as follows.

3.3.1 There are three indexes that influence the formation and calculation of the Final Rating:

• Percentage of Profit (Priority #1);
• Percentage of Maximum Relative Drawdown (Priority #2);
• Profit Factor (Priority #3).

The Percentage of Profit Index has top priority, followed by the Percentage of Maximum Relative Drawdown and Profit Factor, respectively. You can find out the current reading of these indexes in the MetaTrader detailed report, where calculation is accurate to the fourth place after the decimal point.

Note: The formulas for index calculation can be found in the commentary to the contest rules (Commentary #1) and also the procedure for forming a detailed report (Commentary #2).

3.3.2 The final rating of a contest participant is calculated using the following method:

• a) The Grey Rating is formed, which includes participants with a positive result, i.e. the current liquid balance is more than the initial deposit (EquityBeginingTour). The Grey Rating is formed in accordance with index priority level (see clause 3.1.2). If the Percentage of Profit reading of two or more participants is the same, then placement in the Grey Rating is determined by the Percentage of Maximum Relative Drawdown (Priority 2). In the case that both the Percentage of Profit and Percentage of Maximum Relative Drawdown readings are the same for two or more participants, then Grey Rating placement is determined by the Profit Factor index (Priority 3). If ALL the priority readings are the same for two or more participants, the participant with the smaller login number to MetaTrader 4 takes a higher place in the rating.
• b) The Final Rating is calculated for each participant in the Top 50 of the Grey Rating, which earns them rating points on each index from clause 3.3.1.
• c) The participant who is in first place in the Final Rating of the Percentage of Profit index (i.e. has the highest reading of that index), gets 50 points, second place gets 49 points and so on until 50th place gets 1 point. In the case that two or more participants have the same Percentage of Profit reading, the participant who has a higher standing in the Grey Rating takes the higher place.
• d) The participant who is in first place in the Final Rating of the Percentage of Maximum Relative Drawdown index (i.e. has the lowest reading of that index), gets 50 points, second place gets 49 points and so on until 50th place gets 1 point. In the case that two or more participants have the same Percentage of Maximum Relative Drawdown reading, the participant who has a higher standing in the Grey Rating takes the higher place.
• e) The participant who is in first place in the Final Rating of the Profit Factor index (i.e. has the highest reading of that index), gets 50 points, second place gets 49 points and so on until 50th place gets 1 point. In the case that two or more participants have the same Profit Factor reading, the participant who has a higher standing in the Grey Rating takes the higher place.
• f) The sum of all points becomes a participant's Final Rating (IR).

Note: An example of the Final Rating calculation can be found in the commentary to the contest rules (Commentary #3).

3.3.3 In the case that two or more participants have the same Final Rating, the participant with the highest reading of an index (in order of priority) takes the higher place (see clause 3.3.1). For example, if the Final Rating of two or more participants is the same, then their placement in the rating is determined by the Percentage of Profit index, which is Priority #1. In the case that the Percentage of Profit reading is also the same, placement in the rating is determined by the Maximum Relative Drawdown (Priority #2). If the Percentage of Profit and Percentage of Maximum Relative Drawdown indexes are also the same, then their placement in the rating is determined by the Profit Factor index (Priority #3) .

3.4 The determination of the overall winner from the results of the entire contest is carried out as follows.

3.4.1 A list of the top contenders is formed from all contest participants who have a Final Rating from a previous round that is larger than zero.

3.4.2 An Overall Rating (SR) is calculated for every participant included on the list of top contenders. The Overall Rating is the sum of final ratings from each round:

• SR = IR1 + IR2 + IR3 + IR4,
• where
• SR — Overall 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 In the case that two or more participants have the same Final Rating, the participant with the highest reading of an index (in order of priority) takes the higher place (see clause 3.3.1).

Priority #1 is the total sum of the Percentage of Profit index:

• PPtotal = PP1+ PP2+ PP3+ PP4,
• where
• PPtotal — Final Percentage of Profit for all 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 roung.

Priority #2 is the total sum of the Maximum Relative Drawdown index:

• PMRDtotal= PMRD1+ PMRD2+ PMRD3+ PMRD4,
• where
• PMRDtotal — Final Maximum Relative Drawdown for all four rounds;
• PMRD1 — Maximum Relative Drawdown for the first round;
• PMRD2 — Maximum Relative Drawdown for the second round;
• PMRD3 — Maximum Relative Drawdown for the third round;
• PMRD4 — Maximum Relative Drawdown for the fourth round.

Priority #3 is the total sum of the Profit Factor index:

• PFtotal = PF1+ PF2+ PF3+ PF4,
• where
• PFtotal — Final Profit Factor for all 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.

In the case that the total sums of the Percentage of Profit, Maximum Relative Drawdown and Profit Factor readings are the same, placement (above 3rd place) in the Overall Rating is determined by a drawing of lots. The method for drawing lots is determined by the Contest Administration if such a situation arises.

3.5 Alpari publishes the preliminary results on the company website within 96 hours of the end of a contest round.

3.6 Preliminary results are subject to appeal for 144 hours after the end of the contest round, after which they become final and are no longer subject to appeal.

3.7 Requests for the credit of prizes are accepted for 60 days after the end of the round.

4.1 According to the results of the round, the following participants are awarded.

4.1.1 Participants holding one of the Top 10 places, in accordance with clause 3.3, receive cash prizes in one of the following sums (dependent on placement in the results), which Alpari credits to the participant's live account:

Place	Prize
1st	2,500 USD
2nd	1,200 USD
3rd	850 USD
4th	600 USD
5th	350 USD
6th	250 USD
7th	150 USD
8th	100 USD
9th	70 USD
10th	50 USD

If two or more participants end up in the same prizewinning place (for example, two second place winners), the prize pool reserved for that place is shared evenly between those participants.

Note: There is an example of dividing a prize pool in the commentary to the contest rules (Commentary #4).

4.2 According to the results of the entire contest, the Top 3 participants are awarded in accordance with clause 3.4. They receive cash prizes in one of the following sums (dependent on placement in the results), which Alpari credits to the participant's live account:

Place	Prize
1st	6,000 USD
2nd	3,500 USD
3rd	2,000 USD

If two or more participants end up in the same prizewinning place (for example, two second place winners), the prize pool reserved for that place is shared evenly between those participants.

Note: There is an example of dividing a prize pool in the commentary to the contest rules (Commentary #4).

4.3 Every participant who is awarded with a prize in the final results needs to open a classic.mt4 or micro.mt4 live account at Alpari and send an email to contest@alpari.ru containing the following:

a) Login and password to the contest account;

b) Scanned copy of passport (two-page spread with photo and registration);

c) Account number and login for the MetaTrader live account opened under the participant's name, specifying the type of account (classic.mt4 or micro.mt4) and the deposit currency.

Until this email is received, Alpari remains unobligated to award this participant.

4.3.1 A participant who is awarded with a prize is not allowed to demand crediting of the prize to a live account that is not in the name of the participant.

4.3.2 Prizes are credited to a client's live account according to Alpari's internal rate, which is published daily in the Personal Area inside the Conversion Rates and Fees section.

4.3.3 A participant can withdraw the prize at any time after the prize is credited to the live account, in accordance with clause 4.3 using any of the withdrawal methods listed on the website.

4.4 Winners and runners-up are obligated to participate in Alpari promotional events, interviews, photo essays,and public announcements on current promtions. This being said, Alpari is obliged to not to mention any personal data (including full names) of any participants without their consent.

4.5 In the case of refusal to participate in promotional events, interviews, public announcements, etc., the Contest Administration has the right to disqualify a participant and give the prize to the participant in the next place in the Overall Rating.

5.1 All complaints addressing the results of a round or the entire contest should be sent to contest@alpari.ru noting the contest: "Virtual Reality". Complaints sent by another method (particularly on the Alpari Forum), will not be taken under consideration.

5.2 In the case that a participant has a complaint about the incorrect, in his opinion, reflection of his contest account in either of the ratings (Grey or Final), the participant must, along with all the requirements described in clause 5.1, include their version of the rating calculation, on the basis of which the participant thinks that their account rating was published on the Alpari website incorrectly.

5.3 The Contest Administration has the right to reject a complaint in the case that it does not conform to the terms specified in clauses 5.1, 5.2.

5.4 Complaints associated with the inability to complete operations on a contest account because of bad connection quality either on the side of a participant or an Alpari provider will not be taken under consideration.

5.5 Complaints about the quote level in the MetaTrader: Alpari system will not be taken under consideration, except in cases where there are obvious mistakes.

5.6 In any disputes, the Contest Administration will be the sole authority to make final decisions based on the Alpari «Terms of Business» and/or common market practice.

5.7 If it is revealed that a participant is intentionally using mistakes or inaccuracies in the rating formula calculation or the contest rules to raise the rating of their account, the Contest Administration has the right to warn this participant of their potential disqualification, and in some cases, disqualify the participant.

6.1 The Contest Administration has the right to suspend or terminate the contest if a situation arises where the conditions are unfair for most participants.

6.2 The Contest Administration has the right to suspend or terminate the contest if its continuation becomes impossible due to extreme circumstances, that arose after the beginning of the contest, which could in no way be foreseen or prevented by the Contest Administration (natural disasters, war, political conflict, etc.).

6.3 In the case of suspension or termination of the contest, the Contest Administration has the right to either resume the contest with the same participants (having saved or restored account data at the moment of the contest suspension), or hold registration again and start the contest again from the beginning. In any case, the final decision will be made by Contest Administration and all information on this decision will be on the website within reasonable notice.

6.4 If the contest for any reason will not be continued, and respectively, has not been seen through to the end, the participants' results at the moment of the suspension or termination or the contest will not be considered as a basis to warrant awards.

7.1 If there is any glaring error in the criteria for selecting a winner, Alpari will make necessary changes in the formulas for the rating calculation.

7.2 The Contest Rules may be supplemented with any necessary explanatory documents.

7.3 The final results of each round are not subject to revision.

Percentage of Profit (%).

• Percent Profit = Total Net Profit / Initial Deposit *100 (%),
• where
• Initial Deposit — starting deposit;
• Total Net Profit — pure profit, showing the difference between total profit and total loss;
• Total Net Profit = Gross Рrofit — Gross Loss,
• where
• Gross Profit — total profit, sum of profits from all profitable transactions;
• Gross Loss — total loss, sum of losses from all unprofitable transactions.

Percentage of Maximum Relative Drawdown (%).

Figure 1.

Drawdown is the difference between one of the highest peaks on the EquityDaily movement chart and the closest lowest peak.

An example of the Drawdown calculation for the EquityDaily movement chart (Figure 1) is shown below:

DrawDown1 = H1 — L1 = 10012 — 9580 = 432
DrawDown2 = H2 — L2 = 10036 — 9534 = 502
DrawDown3 = H3 — L3 = 10404 — 9590 = 814
DrawDown4 = H4 — L4 = 10772 — 9952 = 820

MaxRelativeDrawdown (%) determines which maximum losses will be fixed on the account.

In Figure 1, the main stages of the Relative Drawdown movement are shown in numeric form . The final value of the Relative Drawdown is the drawdown under number «3».

An example of the Relative Drawdown calculation for the EquityDaily movement chart (Figure 1) is shown below:

PercentDrawDown1 = (H1 — L1) / H1 х 100 = (10012 — 9580) / 10012 х 100 = 4.31%
PercentDrawDown2 = (H2 — L2) / H2 х 100 = (10036 — 9534) / 10036 х 100 = 5%
PercentDrawDown3 = (H3 — L3) / H3 х 100 = (10404 — 9590) / 10404 х 100 = 7.82%
PercentDrawDown4 = (H4 — L4) / H4 х 100 = (10772 — 9952) / 10772 х 100 = 7.61%
Relative Drawdown = 7.82%

Note: In this example, Relative Drawdown «3» has a lower absolute value than the absolute value of Drawdown «4», but a higher percentage value.

Profit Factor shows profitability, the relationship between total profits and total losses:

• Profit Factor = Gross Profit / Gross Loss,
• where
• Gross Profit — total profit, sum of profits from all profitable transactions;
• Gross Loss — total loss, sum of losses from all unprofitable transactions.

You can find out the current reading for an index through the following method: launch MetaTrader 4, choose «Terminal» in the «View» menu, then «Account History». Next, right-click the mouse and choose «Save as Detailed Report» in the context window that appears (see Figures 2, 3).

Figure 2.

Figure 3.

Place	Account	Pseudonym	Profit% (Score)	Drawdown% (Score)	Profit Factor (Score)	IR
1st	654321	Gatti	30.77 (34)	9.26 (47)	2.83 (43)	124

IR = PPp + PMRDp + PFp = 34 + 47 + 43 = 124,

• where
• IR — Final Rating;
• PPp — Number of points (score) for Percentage of Profit;
• PMRDp — Number of points (score) for Percentage of Maximum Relative Drawdown;
• PFp — Number of points (score) for Profit Factor.

Place	Account	Pseudonym	Profit% (Score)	Drawdown% (Score)	Profit Factor (Score)	IR	Prize
1st	-	Gatti	-	-	-	125	2,500 USD
2nd	-	Gatti1	-	-	-	123	1,200 USD
3rd	-	Gatti2	-	-	-	121	850 USD
4th	-	Gatti3	-	-	-	120	600 USD
5th	-	Gatti4	-	-	-	118	350 USD
6th	-	Gatti5	-	-	-	117	250 USD
7th	-	Gatti6	-	-	-	116	150 USD
8th	-	Gatti7	-	-	-	115	100 USD
9th	-	Gatti8	23.89 (14)	0 (50)	max (50)	114	70 USD
10th	-	Gatti9	23.89 (14)	0 (50)	max (50)	114	50 USD
11th	-	Gatti10	23.89 (14)	0 (50)	max (50)	114	-

In this example, participants Gatti9, Gatti10 и Gatti11 have the same Final Rating and absolutely equal points for both the trading indexes. Accordingly, the prize pool that is designated for their prizewinning places (9th and 10th) is shared equally between three participants.

Prize = prize pool / number of contenders.

In this example, each participant receives a prize in the amount of (70 + 50 + 0) / 3 = 40 USD.

• 1.1 To participate in the contest, you must be a real client of Alpari. If an individual has more than one micro.mt4 live account with Alpari, said individual has the right to participate in the contest on only one account.

• 1.2 Trading accounts that are already registered in the "Crazy Pips" contest are not allowed to participatein "Formula FX".

Note: In the case that your trading account is already registered in the "Crazy Pips" contest, you need to open a new micro.mt4 account to participate in "Formula FX".

• 1.3 Alpari staff and their relatives are not allowed to compete.

• 1.4 To participate in the contest, an Alpari client must register. A contest participant has the right to register only one time.

  Note: In order to change any personal information that you entered wrong during registration, you will need to send a scan of your passport (two-page spread with photo) to contest@alpari.ru. Please denote your pseudonym and any errors in your registration in the email.

• 1.5 When registering, every Alpari client must enter the login and password to their micro.mt4live account, as well as a pseudonym to participate in the competition.

  Note: Your password will be used for authentication only at the moment of registration. You may change your password as soon as the registration is completed. All information in the registration form is protected by a 128-bits key of the HTTPS protocol, which prevents access by unauthorized persons.

• 1.6 Alpari is obliged to keep all contest participant information confidential. Thus, the only things published in the ratings and results are participants' pseudonyms.
• 1.7 After successfully completing registration, an Alpari client's account is put in the register of accounts participating in the "Formula FX" traders' contest.
• 1.8 To participate in the contest, starting with the next round, a real client of Alpari needs to register no later than 2 hours before the start of that round. To take part in the following rounds, a client needs to confirm their participation in a special section of the website.
• 1.9 micro.mt4 accounts can participate in the contest if they have one of the following deposit currencies:
  • USD (US Dollar);
  • EUR (Euro);
  • RUR (Russian Ruble).
• 1.10 The minimum deposit on a contest account, according to its currency, is:
  • 30 USD;
  • 20 EUR.
• 1.11 At the start of each round (23:00 GMT, when the daily report on completed transactions (Confirmation) is generated), the deposit on all accounts registered in the contest is checked. If the Equity is more or equal to the required minimum deposit, the account is transferred to the list of "Active Accounts" and is included in the rating calculation. Accounts that have passed this examination and listed as an "Active Account", are not subjected to this check for the remaining duration of the current round.
  Accounts whose Equity is less than the required minimum deposit are listed as "Inactive Accounts". The deposit of these accounts is checked daily when consolidating the Confirmation for the duration of the round.
  A contest participant, whose account is located on the "Inactive Accounts" list, can deposit funds to his account during the current round and, in the case that one of the checks is successful, accounts with the required minimum deposit once again have the opportunity to participate in the contest.
• 1.12 A contest participant should attentively read these rules and participate in accordance with them. Unfamiliarity with the rules will not be considered a valid argument against a complaint.
• 1.13 The duration of a contest round is 1 week. Contest rounds are held once every two weeks.
• 1.14 Rounds start on Sundays at 23:00 GMT, and end on Fridays at 22:00 GMT.
• 1.15 You can register in a round during the week before the round starts, or during the round itself.

• 2.1 A contest participant carries out all operations on their personal micro.mt4 account.
• 2.2 Contest participants have the right to open positions of any size (within the bounds of the free margin on the trading account and restrictions on micro.mt4 accounts).
• 2.3 All transactions must be made in accordance with Alpari's «Terms of Business» and other related documents.
• 2.4 Refer to the Contract Specification» page to familiarize yourself with the instruments that will be traded in the contest.

• 3.1 Determining the winner of a round is carried out by fixing the best Percentage of Profit reading from all the accounts participating in the contest at the end of a round.
• 3.2 In the case that two or more participants have the same Percentage of Profit reading,, the participant who had the higher Equity reading at the start of the contest takes the higher place.
• 3.2.1 In the case that two or more participants haave the same Equity reading from the start of the round, the final decision of who is awarded one spot or another is determined by a drawing of lots. The method for drawing lots is determined by the Contest Administration if such a situation arises.
• 3.3 Alpari publishes the preliminary results (without disclosure of the transaction register) on the company website within 96 hours of the end of a contest round.
• 3.4 Preliminary results are subject to appeal for 24 hours after the end of the contest round, after which they become final and are no longer subject to appeal.
• 3.5 Requests for the credit of prizes are accepted for 7 days after the end of the round.

• 4.1 According to the results of the round, the following participants are awarded.
• 4.1.1 Participants holding one of the Top 10 places, in accordance with clauses 3.1, 3.2 and 3.2.1 receive cash prizes in one of the following sums (dependent on placement in the results), which Alpari credits to the participant's live account used in the contest:

Place	Prize
1st	400 USD
2nd	350 USD
3rd	200 USD
4th	160 USD
5th	140 USD
6th	120 USD
7th	100 USD
8th	80 USD
9th	30 USD
10th	20 USD

• 4.2 A participant who is awarded with a prize is not allowed to demand crediting of the prize to another live account, in particular an account that is not in the name of the participant. The prize will only be credited to the live account the participant was using during the contest round.
• 4.3 Prizes are credited to a client's live account according to Alpari's internal rate, which is published daily in the Personal Area inside the Conversion Rates and Fees section.
• 4.4 A participant can withdraw the prize at any time after the prize is credited to the live account, in accordance with clauses 4.2, 4.3 using any of the withdrawal methods listed on the website.
• 4.5 Winners and runners-up are obligated to participate in Alpari promotional events, interviews, photo essays,and public announcements on current promtions. This being said, Alpari is obliged to not to mention any personal data (including full names) of any participants without their consent.
• 4.6 In the case of refusal to participate in promotional events, interviews, public announcements, etc., the Contest Administration has the right to disqualify a participant and give the prize to the participant in the next place in the Overall Rating.

• 5.1 All complaints that arise during the contest which are associated with operations on a trading account are considered in accordance with the «Terms of Business».
• 5.2 All complaints addressing the results of a round or the entire contest should be sent to contest@alpari.ru noting the contest: "Formula FX". Complaints sent by another method (particularly on the Alpari Forum), will not be taken under consideration.
• 5.3 In the case that a participant has a complaint about the incorrect, in his opinion, reflection of his contest account in a rating, the participant must, along with all the requirements described in clause 5.2, include their version of the rating calculation, on the basis of which the participant thinks that their account rating was published on the Alpari website incorrectly.
• 5.4 The Contest Administration has the right to reject a complaint in the case that it does not conform to the terms specified in 5.2, 5.3.
• 5.5 In any disputes, the Contest Administration will be the sole authority to make final decisions based on common market practice.
• 5.6 If it is revealed that a participant is intentionally using mistakes or inaccuracies in the rating formula calculation or the contest rules to raise the rating of their account, the Contest Administration has the right to warn this participant of their potential disqualification, and in some cases, disqualify the participant.

6.1 The Contest Administration has the right to suspend or terminate the contest if a situation arises where the conditions are unfair for most participants.

6.2 The Contest Administration has the right to suspend or terminate the contest if its continuation becomes impossible due to extreme circumstances, that arose after the beginning of the contest, which could in no way be foreseen or prevented by the Contest Administration (natural disasters, war, political conflict, etc.).

6.3 In the case of suspension or termination of the contest, the Contest Administration has the right to either resume the contest with the same participants (having saved or restored account data at the moment of the contest suspension), or hold registration again and start the contest again from the beginning. In any case, the final decision will be made by Contest Administration and all information on this decision will be on the website within reasonable notice.

6.4 If the contest for any reason will not be continued, and respectively, has not been seen through to the end, the participants' results at the moment of the suspension or termination or the contest will not be considered as a basis to warrant awards.

• 7.1 If there is any glaring error in the criteria for selecting a winner, Alpari will make necessary changes in the formulas for the rating calculation.

   

  7.2 The Contest Rules may be supplemented with any necessary explanatory documents.

  7.3 The final results of each round are not subject to revision.

Percentage of Profit (%).

• Percent Profit = (EquityDaily-EquityBeginingTour-(Deposit-Withdrawal)) / (EquityBeginingTour+Deposit)*100(%),
• where
• EquityBeginingTour — the initial deposit (Equity at the time the Confirmation is generated);
• EquityDaily — funds (Equity) at the time the Confirmation is generated;
• Deposit — funds deposited to the account during the round
• Withdrawal — funds withdrawn from the account during the round (at absolute value);
• Equity — current account balance;
• Equity = Balance + Floating Profit- Floating Loss,
• Floating Profit/Loss — non-fixed profits/losses on open positions under current rates. 

Note: Depositing funds worsens the Percentage of Profit index.