Tournaments carrying regulations
1. Definitions
Tournament – competitive event involving conduction of trading operations on international financial markets with a purpose to define prize rating positions.
The Participant – a person accepted a tournament carrying conditions and registered in the list of participants.
Buy-in – entrance fee submitted by a tournament participant in order to participate in the tournament. Buy-in is registration fee of type X+Y, where X Is a part of a contribution fee forming a tournament’s prize fund, and Y is a commission for participation.
Prize fund – total amount of buy-ins excluding commission charged by the organizer.
Freeroll – a kind of tournament with a distinctive feature consisting in buy-in not being required for participation in the tournament.
Winner – a participant, who reached the highest profitability rate in comparison to other tournament participants at the moment of official tournament making up.
Prize winners – participants who took rating places in the tournament standings at the moment of official tournament summing up. Number of prize places is defined in accordance to conditions of a certain tournament.
Standings – list of registered participants, who have agreed with conditions of a certain tournament. The list is refreshed with a certain time interval and contains information on places take by a tournament participants at the moment of the last refresh.
Prize – a part of the prize fund, transferred to a participant's personal account on the ForexStars.com website. The prize can be expressed in monetary form, as well as in any other material form in accordance to a tournament carrying conditions.
Start of tournament - a moment specified in a tournament description as a moment of a tournament start.
End of tournament - a moment specified in a tournament description as a moment of a tournament end.
Tournament duration - a time period between start of the tournament and end of a tournament.
2. Tournament participant
2.1. Tournament participant is a person, who have accepted the tournament carrying conditions.
2.2. Any person registered on the website and having an active account can become a tournament participant.
2.3. The tournament participant is obliged to adhere to all the conditions of the Contract of service.
3. Tournament organizer
3.1. WFT Ltd. is the organizer of tournaments involving trading on international financial markets in the frame of the service www.forexstars.com.
4. Registration for a tournament
4.1. In case of participation in regular tournaments and Sit&GO tournaments, payment of buy-in automatically confirms that a participant accepts conditions of a particular tournament.
4.2. In case a participant signs up for a freeroll, the fact of registration automatically confirms the participant’s agreement with conditions of a particular tournament.
4.3 In case, if a participant wins a freeroll, he will not be available to register and participate in freerolls of such type.
5. Obligations of the Company
5.1. General tournament carrying regulations and ForexStars.com service usage rules are under exclusive jurisdiction of WFT Ltd.
5.2. Official summing up and results publication are under exclusive jurisdiction of WFT Ltd.
5.3. The Company reserves a right to refuse to provide its services based on the Contract of service to any person on its sole discretion without explanation.
5.4. The Company reserves a right to refuse to provide its services based on the Contract of service to any person, in case the person violates conditions of the Contract.
5.5. The Company has a right at any time to suspend or cancel any carried tournament with buy-ins being returned to participants without organizer’s commission being charged.
5.6. In case instance of fraud committed by a participant is revealed, account of a participant found out to be guilty is deleted without a possibility to withdraw funds from it.
5.7. The Company doesn’t compensate moral damage and loss of possible profit.
5.8 The Company has a right to suspend calculation, to move in the tournament table, disqualify any participant or any trading account in case of suspicion in manipulating with trading results.
5.9 The Company has a right to suspend calculation, to move in the tournament table, disqualify any participant or any trading account in case of excessive traffic to Company server, caused by Automatic Trading Systems, expert advisors, robots.
6. The tournament participant has a right
6.1. In case conditions of the Contract of service are adhered to by the participant, he/she has a right to use all spectrum of services provided in accordance to the Contract.
6.2. In case according to a tournament results the participant took a prize place, he/she can obtain due prize in accordance to rules of a tournament in question.
6.3. In case any questions occur or consultation is necessary, he/she can contact the Company’s support service.
7. Liability of the parties
7.1. The person, whose personal details were mentioned during the Client registration procedure is the only authorized person with a right to conduct actions involving using his/her account.
7.2. The Client is exclusively responsible for usage and safety of his/her logins and passwords provided to the Client in the frame of service provision.
7.3. The Client is exclusively responsible for all actions performed with usage of his/her account, including cases, when such actions were performed by any third parties, who have obtained login and password for the Client’s account.
7.4 The Сlient is not allowed to change his investor password on his trading account during the tournament. The result of such action will be a disqualification without buy-in refund.
7.5 According to the tournament conditions, the Client can be obliged to provide his personal information for advertisement proposal. (photos, interview etc.)
8. Calculations
8.1. Trades conducted or being conducted in the frame of a tournament are taken into consideration.
8.2. In case a trade was opened or closed in a period between start and end of a tournament, its trading result is calculated basing on quotes provided by the Broker, whose trading account is used by the Client.
8.3. In case a trade was opened before a tournament has started, its result will be calculated from the moment of tournament start till its closing.
8.4. In case a trade was opened after a tournament has started and closed after a tournament has ended, its result will be calculated from the moment of opening till the end of a tournament.
8.5. In case a trade was opened before a tournament has started and closed after a tournament has ended, its result will be calculated from the moment of tournament start till the end of a tournament.
8.6. In case information on transaction prices described in articles 8.3, 8.4, 8.5 is impossible to acquire due to technical reasons, the average price calculated by comparing prices of the third- party brokers is used.
8.7. In the course of the profitability rate calculation value of equity is used.
8.8. In case of absence of technical possibility to calculate the results of the participant in 30 minutes, such participant will be disqualified without buy-in refund.
8.9 If an order was closed in less or equal of 10 seconds and a profit was less or equal of 10 points (pips), such order will not be taken into calculation of results.