- Registration Rules
- Trading Rules
- Key Limitations
- Ranking Calculation Rules
- Dukascopy Points Calculation Rules
- Prizes and Awarding Rules
- Fair Play
- 6/12 Statistics for Signal Provider Grand Prix
- Other rules and policies
Dukascopy Trader Contest (the "Contest") is a forex competition between participants using DEMO accounts for manual trading only (the "Participants"). Any forms of automated trading are forbidden. Several trading limitations are designed to make the competition more fair and analytical.
Participants are expected to keep a register of their trading activity: write blog posts about their deals, trading methods, expectations, thoughts behind the deals, trading plans and other related to the Participant’s trading information. Plagiarism is strictly forbidden. The amount of the quoted text must correspond with the purpose of citing.
The posts of each participant are displayed in “Trader's blog” section on his contest page and also in Community Blog and are tagged “Trader's blog”. The quality and accuracy of these records will be beneficial for obtaining more blog points from Contest’s moderator.
Final ranking of participant represents the sum of points for pure trading performance, number of signal subscribers, quality of orders and the points for Trader's blog.
The Contest is conducted regularly on a monthly basis. The total prize fund is 16,000$ to be shared among the winners.
- The Contest is held by Dukascopy Bank SA ('Dukascopy') on DEMO accounts for manually trading on a regular monthly basis.
- For each respective month, registration opens on the 25th day of the previous month and remains available until the 25th day of that month. For example, registration for January 2011 is opened from 25.12.2010 till 25.01.2011
- Only persons aged 18 or over are eligible to apply for a registration in the Contest.
- Participants agree to provide true information during registration. If a Participant becomes eligible for any prize, information provided during his/her registration will be used for the opening of a live account with Dukascopy in the name of that Participant. In case of information being false, inaccurate or incomplete, Dukascopy may declare the participation in the Contest void at any time and at its sole discretion.
- Participant must register under a unique 'Nickname' which can not be used by any third person in the future. Among other, multiple registrations and/or use of proxy servers may result in the relevant Participant's disqualification.
- Participants shall acknowledge and agree that their trading history, any picture, personal data, and any other information posted on Dukascopy Bank SA's Traders Blog are accessible to the public and that Dukascopy Bank SA does not ensure any confidentiality in this respect whether or not participants already have a live account open with Dukascopy Bank SA or intend / need to open such live account. Consequently, participants shall waive expressly the benefit of Swiss Banking Secrecy and release Dukascopy Bank SA from any liability in that respect in the frame of the Trader Contest / Traders Blog.
- Participants shall acknowledge and accept that, in case they are awarded with a prize by Dukascopy Bank SA, they may be asked to participate in promotional events, interviews, public announcements in connection with the Contest and that Dukascopy Bank SA may make use of their names, trading history and references. Consequently, participants shall waive expressly the benefit of Swiss Banking Secrecy and release Dukascopy Bank SA from any liability in that respect.
- Participants further acknowledge and agree that should they refuse Dukascopy Bank SA's request to participate in above-mentioned promotional events, Dukascopy Bank SA has the right to disqualify such participants and to give the respective prize to other participants.
- It is forbidden to use any kind of links in the profile pictures. Any sort of advertisement, restricted sensible content is also not allowed. Dukascopy reserves the right to delete the avatar upon detection of this rule's violation.
- Login names containing any trademarks of Dukascopy or its products are not allowed. Words like 'Dukascopy', 'SWFX', 'JForex' and other brand names associated with Dukascopy are forbidden.
- Contest accounts are registered with an initial deposit of USD 100,000.
- Trading can be performed using the Java, Android and iPhone/iPad/iPod platforms (no trading possible via web-platform).
- The minimum and maximum order size is 100,000 and 5,000,000 currency units respectively.
- Only 5 instruments can be opened simultaneously by a Participant.
- Only 1 position could be opened at any instrument (if there is already an entry order, there is no possibility to open a market order and vice versa).
- The total amount of positions opened during the Contest by one Participant must be at least 10. At the end of the Contest all open positions will be automatically closed at settlement prices.
- All positions must have Take Profit (TP) and Stop Loss (SL) orders assigned.
- Take profit and Stop Loss levels should not exceed 2% from the opening price for EUR/USD. Limits for the rest instruments recalculating each settlement according to "Pip Conversion Schedule". E.g. Limits for AUD/JPY=(EUR/USD Points/AUD/JPY Points)*2%=1/1.74*2=1.15%; for EUR/NOK=(EUR/USD Points/EUR/NOK Points)*2%=1/0.17*2=11.76%, etc.
- TP, SL levels can not initially be set closer than 10 pips either to market price, or to entry price.
- Stop-Loss and Take-Profit orders can be modified only in the direction of the trade.
- It is forbidden to cancel already set SLs and TPs.
- All contest trading accounts are subject to the same margin requirements and policies as regular demo accounts. This includes the application of end-of-week leverage (1:30) each Friday, at 18:00 GMT.
- Every Participant should have only one unique nickname and email linked with his/her personal details, which will be used for the account opening with Dukascopy in case of awarding of a Contest prize.
- Only Participants who have a positive balance more than 100,000 may claim to be awarded by any of the prizes.
- Trader’s blog posts should not be shorter than 100 words and may be written in any language.
- Use of offensive or abusive language may cause disqualification from Dukascopy Forex Community and Contest.
- Official results of every month will be published during 2 weeks.
- Dukascopy reserves the right to set a 1-day ban to any contest participant or community user in case of continuous breaches of contest rules. A permanent disqualification can be applied if a serious violation is detected.
Each month, the score table is formed on the basis of 4 criteria, with a maximum total score of 303-306 points:
Performance - real increase of capital. Maximum - 200 points.
Signal subscribers - subscribers active in Social Trading contest are taken into account. Maximum 25 points.
Orders quality - volume-weighted share of trades made with conditional orders. It is calculated as a ratio of the traded volume made with conditional orders to the total traded volume. Conditional orders include pending Entry orders, SL and TP orders. Maximum – 50 points.
- Trader’s blog - The score entered by a moderator in the end of the month for the quality and accuracy of the Trader's blog. Maximum 28-31 points (depends on the number of days in the current month).
According to the places in nomination 'Performance' ,the Participants will gain points from 200 till 1 in the following sequence: (1) 200, (2) 180, (3) 170, (4) 165, (5) 160, (6) 159, (7) 158, ... (164) 1.
For 'Signal subscribers' points are assigned linearly: (1) 25, (2) 24, (3) 23, (4) 22, (5) 21, (6) 20, (7) 19, ... (25) 1.
The 'Order's quality' evaluation is obtained from the volume-weighted share of trades made with conditional orders. The percentage of such trades is then multiplied by the maximum score – 50 points. E.g. 90% of conditional volumes – 45 points, 50% - 25 points, etc.
Moderators are checking the Trader's blog for all participants, that shall not post more than 1 time per day. 1 post per 1 day is counted and the maximum points depend on the number of days in the particular month. The Contest moderator decides whether to assign points for the posts or not. Posting of spam, senseless posts, plagiarism and over-citing will be punished by assigning -1 point for each post. The rule “1 post per 1 day is counted” is not applied for spam-posts.
Please notice: At equal quantity of points, the preference will be given to the trader with the latest date of registration in the Contest.
- The total prize pool of USD 15,000 is distributed among 10 winners of the Contest in the following manner:
- 1st place and nomination 'The Trader of the Month' - 5,000 USD.
- 2nd and 3rd places - 2,500 USD
- 4th-6th places - 1,000 USD
- 7th-10th places - 500 USD
- The winners may withdraw cash prize amounts from their respective live accounts after meeting the following minimum turnover requirements on these live accounts. These requirements constitute 0.5 million USD for every 100 USD won in the contest. In other words:
- 1st place - 25 million USD
- 2nd-3rd places - 12.5 million USD
- 4th-6th places - 5 million USD
- 7th-10th places - 2.5 million USD
- 11th-20th place winners get awarded with 100 USD motivation bonuses linked to their contest profile. As soon as they accumulate a total of at least 500 USD participants become eligible for a Live account opening.
- If the participant ends the month on a top-10 position and has already accumulated bonuses, his prize account gets credited with the sum of core prize and the accumulated amount.
- Accounts based on accumulated bonuses are subject to the same turnover requirements before any withdrawal becomes possible.
- Top-3 position winners are required to take part in one broadcast of Dukascopy Community TV. Broadcasts are open-format and users have the opportunity of presenting the trading strategies and principles that lead them to success in the particular contest, taking part in the discussion of one of the open discussion of the Live TV or suggesting another topic of their interest related to Forex/Economics/Trading psychology etc.
The broadcast is to be carried within one calendar month after the end of the contest month. Dukascopy representatives will be in contact with every of the winners to appoint a commonly convenient time for the broadcast.
The only device one needs to take part in the web-broadcast is a microphone and a web-cam. Broadcasts are held in English. Cases when the prize winner does not master English at a sufficient level will be solved on an individual basis: either by outsourcing an interpreter or via other individual solutions.
- Cash prizes are credited to a live account in the name of the relevant Participant with Dukascopy. A Participant who is awarded with a prize is not allowed to demand crediting of the prize to any other account, including, among other, any account that is not in the name of that Participant.
- If Participant does not have a live account with Dukascopy, then he/she should proceed to the live account opening procedure in a regular way. If Participant does not comply with live account opening requirements, Dukascopy reserves the right to cancel the cash prize.
- In case of Participant's refusal to participate in promotional events, interviews, public announcements in connection with the Contest, Dukascopy has the right to disqualify such Participant and give the respective prize to another Participant.
- According to the Japanese law, the maximum prize for Japanese residents only is limited to 100,000 JPY with a turnover requirement of 500 million JPY. In case if the resultant prize of a contestant is superior to the given limit, the pay-off amount and the turnover requirement will be decreased accordingly.
- Participants acknowledge and agree to make efforts to respect the principles of Fair Play.
- Participants must refrain from any dishonest and unfair conduct even if these activities are not fully described within the framework of the Contest rules.
- Such activities include, but are not limited to:
- Registration of persons that are directly or indirectly related to other Participant
- Various team tactics that include consolidation of Participants into a group with a purpose to get a statistical advantage on one of the accounts
- Trading in opposite directions within one or more accounts
- Spamming in private messages and comments
- Any kind of manipulations with popularity points and other statistics
- Other activities used to get an unfair advantage over other Participants
- Total pip-points gained – The number of pip-points (EUR/USD pips equivalent) scored during the given statistical period.
- Avg. pip-points outcome from all positions – The average number of EUR/USD pips equivalent points gained/lost on all positions opened during the given statistical period.
- Most profitable trade – The number of EUR/USD pips equivalent points gained on the most profitable position opened during the given statistical period.
- Worst trade - The number of EUR/USD pips equivalent points lost on the most detrimental position opened during the given statistical period.
- Avg. pip-points gain on positive positions - The average number of EUR/USD pips equivalent points gained on all positive positions opened during the given statistical period.
- Avg. pip-points lost on negative positions - The average number of EUR/USD pips equivalent points lost on all negative positions opened during the given statistical period.
- Number of trades – Total number of trades conducted during the given statistical period.
- Avg. position size (USD) – The average size of a position opened during the given statistical period, in USD.
- Avg. trade time – The average duration of all positions opened during the given statistical period. From opening to closure.
- Maximum drawdown (%) – Maximum equity's depreciation, calculated as the percentage between the highest equity value and the lowest one during the given statistical period.
- Number of drawdowns – Total number of consecutive equity contractions during the given statistical period.
- Volume-weighted share of trades conducted with conditional orders – calculated as a ratio of the Traded volume made with conditional orders to the Total traded volume. These include entry pending orders, Stop-Loss and Take-Profit orders.
- Win/Loss ratio – Ratio of positive vs. negative positions opened during the given statistical period.
- Cumulative Profit/Loss dynamics - The chart is based on the continuous sum of periodic profits & losses. Starts from zero although traders actually start their trading with an initial deposit of 100,000 USD every month.
- Contest standings – Current rank of the trader in the respective period’s (1 month, 6 month or 1 year) standings of the Trader contest.
- Performance – Historical profit & loss results along a selected statistical period. Shown in pip points (EUR/USD pips equivalent).
- Traded volumes – Volumes traded historically during a selected statistical period. Shown in USD.
- Instruments – Distribution of instruments the trader uses for trading.
- Dukascopy reserves the right to use any kind of information posted by Participants within the framework of the Contest for its own purposes without prior coordination and approval from the authors. These purposes may include any kind of promotional activities or publicity campaigns, statistics collection etc.
- Dukascopy reserves the right to disqualify a Participant, to change the Contest rules, requirements and awards, without prior notice and at any time and at its sole discretion.