Rules of "One Million Option" by InstaForex

I. General conditions

1. The name of the contest – "One Million Option" by InstaForex (Contest).
2. The Contest is arranged by InstaForex Group of Companies.
3. The Contest is held weekly from Monday 00:10 to Friday 23:50 (terminal time).
4. The prize fund of each weekly Contest is USD 1500. It is distributed among the winners according to the following scheme:
- 1 place - 500 USD;
- 2 place - 400 USD;
- 3 place - 300 USD;
- 4 place - 200 USD;
- 5 place - 100 USD.
These funds are not withdrawable, but the profit made with them can be withdrawn in full.

5. You can register for the next weekly contest during the whole week preceding it. Registration finishes 1 (one) hour before the contest starts.
Click here to register now


II. Participants

1. Every owner of a trading account with InstaForex Company can weekly take part in the Contest (hereinafter - Participant).
2. The Contest is arranged for traders over 18.
3. Every Participant must sign up at the InstaForex website.
4. In order to take part in a weekly contest, the Participant is to open a DEMO-account for every new step by means of registration for it.
5. The Participant agrees with a necessity to provide true data, the full name identical to that specified in the ID document, the active contact email.
6. Any attempts to participate in the Contest on several trading accounts or to employ an anonymous proxy shall be followed by disqualification from the Contest.
7. The Organizer reserves the right to decline registration of any participant without explaining the reason or disqualify any participant during the Contest with an explanation. The reason of disqualifying can be opening the big volume opposite orders with the same currency pairs in different trading accounts at the same time approximately, as well as usage of failures in the quote flow for getting guaranteed profit.
8. Registering in the Contest a Participant accepts all the regulations, which concern the Contest.
9. The participation close relatives in the same contest is forbidden. If the registration data of the Contestant's account coincides with the registration information of another Contestant, the Company has a right to regard this matching as a reason for disqualification.


III. Trading terms

1. Once registered for the Contest, the Participant is given a demo account.
2. The initial rating of each Participant is 1000 points and it is unchangeable.
3. The Participant carries out call or put option on any instrument he/she is provided with. The Participant sets the time of opening and closing an option. Metatrader is not available for trading: deals are executed in the Contest Participant cabinet.
4. The list of instruments for options trading is as follows:
- EUR/USD
- GBP/USD
- USD/JPY
- USD/CHF
- USD/CAD
- GBP/JPY
- EUR/JPY
- GBP/CHF
- EUR/GBP
- GOLD
- SILVER
5. An option is to be set at minimum 3 min. before its execution time.
6. The time set for opening and closing options is to be divisible by 10 minutes.
7. It is possible to set just one option on each trading instrument within 24-hour period.
8. The Participant receives one rating point for each positively closed option, while he/she loses one rating point for each unprofitable option.
9. The Contest period and option writing time are estimated according to standard: UTC+3.
10. In case a Participant makes an option order where open price equaling close price, the option is considered as loss and 10 points are deducted from the Participant's rating.

IV. Publication of results

1. The Participants' rating is available on the Organizer's website during the whole Contest.
2. The residential data of the Participants may also be published.
3. The Contest results are published within 7 days from its end after all investigations are finished.
V. Determination of winners
1. After the end of the Contest the Participants with the highest score will be announced as the winners.
2. In case two Participants have the same score, the Organizer shall decide which place each of them will take.
3. The Contest Participants agree with their full names publication.
4. Participant is not entitled to have two prizes per one month. In case he/she wins a prize place for the second time or more, the range of prizes is shifted downwards starting from the place he/she has taken for more than once per month.

VI. Prize Receipt

1. The winners must send their photos and scanned copies of their ID by e-mail to tournament@instaforex.com or by fax (+7 4012 616265) during 30 days after the results of the Contest are announced.
2. The prize funds will be credited to the trading account opened by the Contest Administration.
3. All prizes including the first prize cannot be withdrawn, however any profit made over the prize amount can be withdrawn without any limits.
4. A trading account is charged off automatically at filing an application for withdrawal. At considering the application specialists make sure that the balance and free margin comply with the amount of funds available for withdrawing. In case of incompliance the sum specified in the withdrawal application is credited back to the account.

Register Here for the Next Week Contest