1.0 Interpretation of Terms
1.1 “Account”: Live approved trading account registered with FXPesa.
1.2 “Registration period”: 6th – 18th July 2020.
1.3 “Competition period”: 20th – 6th August 2020.
1.4 “Prizes”: cash prizes as defined under Clause 5.0.
1.5 “Profit Calculation Formula”: for the purpose of determining the winners, the calculation formula shall be: Profit (%) = [Profit / (Starting equity + Deposits)] *100
2.0 General Terms
2.1 The ‘Master of the markets” Live trading competition (‘Competition’) is organised and conducted by EGM Securities Limited, a non-dealing online foreign exchange broker, authorised and regulated by the Capital Markets Authority herein after referred to as the ‘Promoter’.
2.2 FXPesa is a Registered Trademark of EGM Securities Limited and for purposes of this Campaign any reference to FXPesa shall be reference to EGM Securities Limited.
2.3 By entering into these Terms and Conditions, a Participant agrees to be bound by these Terms
3.0 Eligibility Criteria
3.1 To participate in the competition, you must meet the following requirements:
a) Hold a Live approved trading account with FXPesa
b) Fill in and submit the competition registration form
4.0 Specific Competition Terms
4.1 The competition is applicable to trading in all CFDs, Forex and precious metals as offered by EGM Securities. A list of product offering can be found on https://www.fxpesa.com/ and https://www.egmsecurities.com/
4.2 Each contestant shall be allowed to participate in the competition with only one trading account.
4.3 Winners of the competition will be contestants who, in accordance with the Profit Calculation formula, have the highest ratio of profits in percentage terms at 23:59:59 server time on the last day of the competition.
4.4 For the purposes of the Profit calculation formula:
a) Deposits – all deposits made in the account during the competition period.
b) Profit – actual or realized profit on the contestant’s account.
c) Starting equity – is the Equity (Balance + Floating Profit – Floating Loss) in the contestant’s account at 00:01 server time on 20.07.2020.
5.0 Competition Prizes
5.1 The top contestants with the highest Profit % will be rewarded with a cash prize as listed below:
Ranking | Cash Prize |
1 | $1000 |
2 | $700 |
3 | $500 |
4 - 10 | $100 (each) |
5.2 In the event that two or more Contestants have the same percentage (to the second decimal point), then the Contestant with the smallest drawdown will be the winner.
5.3 Prizes will be credited to the contestants live trading account within 3 working days and are eligible for a withdrawal after 14 days.
6.0 Miscellaneous
6.1 At all times, the promoter reserves the right to amend, change or cancel this program without any prior notice to current or prospective program participants.
6.2 If the promoter suspects that a participant has abused or attempted to abuse the competition or otherwise acted with lack of good faith towards the Promoter, the Promoter reserves the right to remove the participant from the competition.
6.3 Trading in Forex and CFD products entails significant risk. Participation in the Competition should not be undertaken unless the Trader is fully aware of and understands the risks involved in trading. This program should not be a motivating factor when considering trading in Forex and CFD products.
6.4 The Promoter does not in any way guarantee profitability on a client’s trading account and shall not be liable for any losses suffered by any Participant on their trading account.
6.5 These Terms and Conditions are governed by the Laws of Kenya and the Kenyan Courts shall have exclusive jurisdiction over any claims arising from the Terms and Conditions herein.
6.6 A copy of these Terms and Conditions may be obtained from www.fxpesa.com or by emailing us at support@fxpesa.com