Dukascopy Binary options contest (the «Contest») is a competition between participants using DEMO accounts for binary options trading. The participants are ranked by their monthly cumulative profit.
The Contest is conducted regularly on a monthly basis. The total prize fund is 10,000 USD to be shared among the winners.
- The Contest is held by Dukascopy on DEMO accounts for binary options trading on a regular monthly basis.
- Registration is open every day.
- Contest accounts are conventionally non-expirable and can be used for participation in different contest periods. Account expires only if it was inactive (no generated PnL) during the last 3 months. User gets a notification 7 days before the account expiration date. After account expiration user can activate existing account to continue participating in the Contest.
- 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 in Dukascopy's Binary options contest are accessible to the public and that Dukascopy does not ensure any confidentiality in this respect whether or not participants already have a live account open with Dukascopy or intend / need to open such live account. Consequently, participants shall waive expressly the benefit of Swiss Banking Secrecy and release Dukascopy from any liability in that respect in the frame of the Binary options contest.
- Participants shall acknowledge and accept that, in case they are awarded with a prize by Dukascopy, they may be asked to participate in promotional events, interviews, public announcements in connection with the Contest and that Dukascopy may make use of their names, trading history and references. Consequently, participants shall waive expressly the benefit of Swiss Banking Secrecy and release Dukascopy from any liability in that respect.
- Participants further acknowledge and agree that should they refuse Dukascopy's request to participate in above-mentioned promotional events, Dukascopy 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 1,000 USD.
- At the end of every trading day (on settlement) the end balance of the account would be automatically adjusted to restore the initial 1,000 USD.
- Trading can be performed using the web and mobile Binary Options platform.
- Maximum simultaneous exposure is 5,000 USD.
- Maximum contract size is 1,000 USD.
- More trading rules can be found on the Trading conditions page.
- 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 users with positive monthly PnL may be treated as Contest winners and shown in the standings.
- Official results of every month will be published during 2 weeks.
- Use of offensive or abusive language may cause disqualification from Dukascopy Community and Contest.
- 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.
Ranking Calculation Rules
- Ranking is based on one criterion – monthly sum of daily PnL.
- Three other criteria are used for information purposes only. Here they are:
- Most lucky traders – show participants with biggest profit on daily, weekly and monthly basis.
- Longest winning streak, deals – shows first 3 participants with longest winning streak of deals.
- Longest winning streak, dollars – shows first 3 participants with longest winning streak of deals, in money terms.
Prizes and Awarding Rules
The total prize pool of USD 10,000 is distributed among 15 winners of the Contest in the following manner:
- 1st place – 3,000 USD
- 2nd place – 2,000 USD
- 3rd place – 1,000 USD
- 4th place – 600 USD
- 5th place – 400 USD
- 6th to 15th place – 300 USD
The contest winners may withdraw their cash prizes and the profits generated from their cash prizes on their respective sub-accounts after meeting the minimum turnover requirement. The minimum turnover requirement constitutes 2.5 million USD for every 100 USD won in the contest. In other words:
- 1st place – 75 million USD
- 2nd place – 50 million USD
- 3rd place – 25 million USD
- 4th place – 15 million USD
- 5th place – 10 million USD
- 6th to 15th place – 7.5 million USD
- 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.
- Cash prizes may be credited only to a live sub-account open with Dukascopy in the name of the relevant Participant.
Participants are allowed to withdraw funds in full only when there are no blocked prizes on the account. Profit can only be withdrawn when there are no blocked prizes on the account.
If there are both blocked and unblocked prizes:
- participants are only allowed to withdraw the sum of unblocked prizes;
- only the positive difference between equity and sum of blocked funds can be withdrawn;
- the sum of withdrawn funds can't exceed the sum of unblocked funds.
LIVE accounts which are credited with prize money are considered LIVE Prize accounts. LIVE Prize accounts can be credited only with cash prize money. Clients are not allowed crediting their own funds on this type of account.
- Prizes may only be credited to sub-accounts which are not linked to any Business Introducer. If needed, Dukascopy opens new sub-accounts not linked to the Participant's Business Introducers, if any, and credit the prize(s) on such new sub-accounts.
- If a Participant already has a Live account but has not yet any open sub-account, Dukascopy opens a sub-account in the Participant's reference currency and credits the prize(s) on this sub-account.
- Save contrary and valid preliminary written instruction of the Participant, Dukascopy converts the prize(s) into the currency of the sub-account on which the prize(s) shall be credited in application of the present «Prizes and Awarding Rules». Such conversion is subject to fees as per the fee schedule posted on Dukascopy Bank's website.
- 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.
- 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.
- Other activities used to get an unfair advantage over other Participants.
- Most successful traders – traders with best daily, weekly and monthly performance of the current contest month.
- Longest winning streak, deals – traders with the longest consecutive number of winning deals (more than one).
- Longest winning streak, money – traders with the longest consecutive winning deals (more than one), in money terms.
- Daily PnL – daily PnL, in USD.
- Monthly PnL – cumulative PnL of the current month, in USD.
- Avg. profitability (monthly) – average profitability of the current month, in %.
- Total PnL – cumulative PnL of all months, in USD.
- Avg. profitability (cumulative) – average profitability of all months, in %.
- Months of active participation – the number of months in which user was registered and PnL was generated.
- Number of active participation days – shows the number of days with trading activity during the selected period of time.
- Number of contracts – number of concluded contracts during the selected period of time.
- Total turnover – sum of concluded contracts during the selected period of time (in USD). Only options that were executed (i.e. entered in Active status).
- Average contract size – total turnover for the period divided by the number of concluded contracts, in USD.
- Avg. active time – average duration of option contracts, in minutes.
- Avg. pending time – time between order placement and execution.
- Number of market contracts – number of contracts conducted at market prices.
- Number of pending contracts – number of placed pending contracts and then executed.
- Cumulative PnL dynamics – the chart is based on the continuous sum of periodic profits & losses. It starts from zero although traders actually start their trading with an initial deposit of 1,000 USD every day.
- Traded volume – sum of concluded contracts during the selected period of time, in USD.
- Traded instruments – shows trader's most traded instruments (% of turnover).
Other rules and policies
- 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.
For feedback, questions and comments please send an email.