Contest model

Dukascopy Social Trading Contest is a monthly competition held on dedicated DEMO accounts between Dukascopy Community members. This is the contest for those who want to experience signal trading and are willing use the best traders to help them make profit.

To be eligible for the prize, one has to register to Social Trading Contest and subscribe for at least 10 active Signal Providers during contest month.

In case a participant subscribed to less than 10 active signal providers, Dukascopy has the right to penalize that participant by 5% for each missing provider. E.g. if you gain 100,000, but subscribed to 8 active signal providers, the amount used for ranking may be reduced to 90,000.


Objective

The contest objective is to determine the most efficient signal portfolio manager in the Dukascopy Community.


Eligibility

The contest is open to anyone over the age of 18; prizes will be credited to participants eligible for LIVE account opening with Dukascopy.


Registration Rules

  1. The Contest is held by Dukascopy ("Dukascopy") on dedicated DEMO accounts for signal trading on a regular monthly basis.
  2. For each respective month, registration opens on the 1st day of the month and remains available until the 25th day of the current month. For example, registration for September 2017 is open from 1.09.2017 till 25.09.2017
  3. 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.
  4. Participants shall acknowledge and agree that their trading history, any picture, personal data, and any other information posted on Dukascopy Community pages 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.
  5. 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.
  6. 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.


Trading Rules

  1. Contest accounts are registered with an initial deposit of USD 100,000.
  2. Trading can be performed only using the jForex platform (trading via web platform is not possible)
  3. 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.
  4. Maximum leverage is set to 1:100.
  5. Participant should subscribe to at least 10 active Signal providers during the current month to be eligible for the prize. Signal subscriptions that are active bring profit or loss to the subscriber.
  6. Manual trading is allowed, although manually opened positions and Margin cut positions are not taken into consideration in standings calculation.
  7. Merging of the positions is forbidden.


Prizes

The yearly prize fund is 60,000 USD. Prizes are awarded in form of deposits to LIVE accounts with Dukascopy. Results are announced every month. Winners are rewarded as follows:

  • 1st place - 1,000 USD
  • 2nd place - 800 USD
  • 3rd place - 600 USD
  • 4th place - 400 USD
  • 5th - 10th place - 200 USD
  • 11th - 20th place - 100 USD


Winner

Every month 20 winners are determined according to the "Contest standings" table. The position in the table is determined by the profitability of the signal portfolio of a participant. The bigger the gain is, the higher the position. Please note that only orders opened by signal are taken into account.


Prize transfer

Prizes are credited to the Participant's trading sub-account not linked to any Business Introducer in the name of Participant with Dukascopy.

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.

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.

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.

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 rules. Such conversion is subject to fees as per the fee schedule posted on Dukascopy’s website.

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.

For example, if you won 1,000$, you have to trade at least 25 million USD before you can withdraw the prize and the profits generated from that cash prize.

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.


Fair play

1. Participants acknowledge and agree to make efforts to respect the principles of Fair Play.
2. Participants must refrain from any dishonest and unfair conduct even if these activities are not fully described within the framework of the Contest rules.


Other rules and policies

We expect participants to be reasonable with what they post. The "Code of conduct" shall not be violated. 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.
Please avoid the following topics in the Dukascopy Community:

  • Pornography or sexually explicit content
  • Racism or sexual discrimination
  • Hate speeches
  • Shocking & disgusting content
  • Unlawful acts
  • Infringements of intellectual property
  • Harassment
  • Threats
  • Violation of privacy


Note that Dukascopy does not take any responsibility whatsoever for participants violating the intellectual property laws. The contestants that do not respect copyright might be banned from the Dukascopy Community forever.

For feedback, questions and comments please send an email to [email protected].