- Contest name: "Triathlon".
- Competition period: from 9th January 2023 till 1st December 2023.
- Contestants: clients of FIBO Group, Ltd (BVI), who opened contest demo accounts with FIBO Group in the customer’s Personal Cabinet.
- The contest "Triathlon" consists of three rounds.
- On the first round the participants use contest demo accounts.
- On the second round the participants use “MT4 NDD” real trading accounts.
- The third round takes place on Managed Accounts (PAMM).
- Every new round of the contest "Triathlon" starts every Monday, from 9th January 2023 till 13th November 2023.
- Participation in the second round of the contest is open for 10 winners of the first round.
- There will only be one participant — the second round winner - that will enter the third round.
Terms and Conditions
- The competition is open to all FIBO Group Ltd. (BVI) clients.
- By participating in this Contest each Participant agrees to the terms of the contest.
- Each participant may only open one contest demo account.
Determining the winners and distribution of prize funds
- Winners are determined stage by stage.
- Duration of the first round is one week, from Monday to Friday.
- 5000 USD demo accounts are opened for the first round participants. Settings of demo-account are established in accordance with the rules of competition and may not be modified.
- At the end of the first stage 10 winners are determined among participants with highest profitability and percentage of maximum drawdown that doesn’t exceed -30%.
- Participation in the second round of the contest is open for 10 winners of the first round. Participants that failed to enter the second round are eligible to participate in the following streams of competition by returning to the first stage, and in that case their positions are closed and their accounts balance is set to the original 5000 USD.
- Duration of the second stage is one week, from Monday to Friday
- NDD real trading accounts pre-loaded with 100 USD will be opened for the first round winners to participate in the second round. Settings of MT4 NDD real account are established in accordance with the rules of competition and may not be modified.
- A trader with the maximum profitability on the second round and with the drawdown on the account not exceeding 30% will become a winner of the second round of the competition.
- At the end of the trading week, after the results of the second round are summarized, an Investor’s account pre-loaded with 1000 USD bonus funds is opened for the second round winner. After that, a Managed Account (PAMM) is opened for the second round winner in accordance with the contest terms; the contest bonus funds are then transferred to the Managed Account (PAMM). NDD Real trading account and its funds are preserved.
- Funds of the NDD Real contest account stay on the contest account.
- To start using a Managed Account (PAMM), the second round winner should verify his/her account and sign a Manager's Supplemental Agreement.
- In case there have been no trading activity on the contest PAMM for 90 days, the bonus funds that were earlier credited to the account, will be deducted from the account.
- All winners of the first two rounds of the contest who received Managed Accounts (PAMM) will take part in the third round of the contest.
- The third round competition period is until 1 December 2023. In the framework the participants get points, depending on the results of the control of the contest Managed Account at the end of each week of the competition. At the end of the contest, all Managed Accounts are preserved and the participants may withdraw their profit.
- Points are credited only when exceeding the weekly profitability of the contest Managed Account for more than 5% of its total positive profitability. The reward points charged for the competition week are doubled if the weekly profitability exceed 5% of the previous contest week.
The points for this contest week will not be credited if the weekly profitability is less than 5% and the total profitability of the contest managed account is positive. And if the profitability of the next week of the contest managed account exceeds for more than 5%, 1 point is credited.
One contest point will be deducted each week of the contest, if the total profitability of the contest managed account is negative. If the client has zero points, there will be no deduction*.
- The negative return (drawdown) is calculated taking into consideration the floating profit and loss of open positions. Opening and closing prices of positions do not affect the negative return (drawdown) calculation.
- The winners of the third round will be chosen through a lottery via online service www.random.org, which will be held on December 5, 2023.
- Each participant of the 3rd round will get a pool of numbers, the amount of which strongly corresponds with the amount of his contest points.
- Each participant of the prize draw may become a winner once and can be awarded with only one bonus account.
- The prize draw organiser reserves the right to remove a pool of numbers granted to the winner or to hold further draws until all the winners are defined.
- Three Managed Accounts (PAMM) pre-loaded with $10 000, $15 000 and $25 000 accordingly as bonus funds are opened for the third round winners in accordance with the terms and conditions of the contest.
Withdrawal of funds
- It is possible for participants of the second round to withdraw funds from their trading accounts only in case the total volume of trade on their accounts is not less than 0.5 lot.
- In case a participant’s total volume of trade on the contest account during the second round is less than 0.5 lot, the profit is kept on the contest account, while the initial 100 USD contest funds are deducted. In case paragraph 4.1 is violated and there is no profit on the participant’s account, the rest of the funds that were earlier credited to the contestant account by the Company for participation in the second round of the contest, will be deducted from the contest account.
- It is only possible to withdraw funds on Tuesday 00.00 FT following the end of the round; the conditions of paragraph 4.1. should be fulfilled.
- It is not permitted to withdraw bonus funds from the Managed Account (PAMM) that was opened in accordance with paragraphs 3.1.8. and 3.1.20 or make transfers to other accounts. An attempt to withdraw the bonus funds is considered a rules violation, in this case the previously credited funds shall be written off according to the clause 5.1.
Withdrawal of investors’ funds as well as profits or manager’s emoluments can be made in accordance of the Policies of the “Managed account (PAMM)”.
- In order to withdraw funds, a participant should verify his/her contest account by providing all the necessary documents that are usually required for opening of a trading account.
- The first round winners are obliged to pass an additional verification step in their Client Area and activate the contest account. Trading operations shall be restricted on the account if the participant failed to pass the verification.
- The Company is entitled to dismiss a participant who violated or abused the contest's rules, manipulated trade results from participation in the next round and block his/her contest account. A dismissed participant can register for the following first round of the "Triathlon" contest.
- The company has the right to deny a participation in the third round of the contest until the submitting of the documents by the participant confirming the identity, including photo of the participant of the contest with the previously provided document.
- If the Client repeatedly attempts to violate the Contest rules, the Company shall reserve the right to dismiss him/her from registration for the next first round of the "Triathlon" contest.
- The Company shall reserve the right not to explain its decision, made according to clauses 5.2 and 5.3 and not to enter into negotiations or correspondence regarding this case.
Changes to the conditions of the promotion
- The Company is eligible to make changes to the conditions of the promotion at any time without any prior notification. The cancellation of the promotion is not applicable to the clients who are participating at the moment of cancellation.
- Participants will be informed about changes to the promotion terms by email. Notifications will be sent to an email address provided during the registration of contest demo account.
- Questions concerning the conditions of the promotion can be asked via on-line chat on the Company’s website, via “Mailbox” in the Client Cabinet or via e-mail to [email protected].
* Example. Charge of the rewarded points
1st week, weekly profitability >5% =>1 point per week
2nd week, weekly profitability >5% =>2 points per week
3rd week, weekly profitability >5% =>4 points per week
4th week, weekly profitability >5% =>8 points per week
Current result of the participant: 15 points
5th week, weekly profitability <5% => 0 points per week, doubling was reset
6th week, weekly profitability <0% => -1 point per week
Current result of the participant: 14 points
5th week, weekly profitability is positive but < 5% => 0 points per week, doubling was reset
6th week, weekly profitability >5% => 1 point per week
7th week, weekly profitability >5% => 2 points per week
Current result of the participant: 17 points Apri conto reale