OctaFX 16 cars Contest

OctaFX 16 cars Contest
  • Trading Contests Type: ; Live Trading Contests
  • Contest Period: Aug 07, 2020 - Aug 16, 2021
  • Prizes: Cars and Latest Gadgets (MacBook Air 2019, Samsung Galaxy 2019, Apple Watch)

What is the OctaFX 16 Cars contest?

This is a trading contest on real accounts for both novice and experienced traders. In this contest, you can win cars, MacBook laptops, smartphones, and smartwatches every three months.
The contest name OctaFX 16 Cars, It is run by Octa Markets Incorporated.
Contest duration 12 months
Start date 17 August 2020
End date 16 August 2021
How often the prize drops are distributed Every 3 months
Number of prize drops 4 prize drops
Next drop 15 November 2020


The Prizes of OctaFX 16 Cars contest

The contest prizes are the followings:

  • HONDA CIVIC CAR
  • MacBook Air laptops
  • Samsung Galaxy S20 smartphones
  • Apple Watches
OctaFX 16 cars Contest


How to win OctaFX 16 Cars contest

To win a prize you need to achieve the highest results possible across all three categories before the prize drop arrives. The traders performing best will win the main prizes. When the winners are determined, all results are reset, and all participants can start competing for the next drop.

Regardless when you enter the race, you can win.

New deposits made to your contest account do not negatively affect your current Gain, can positively affect your future Gain, and increase your chances in the Traded Volume category!


How to participate OctaFX 16 Cars contest

Start creating a new account—MetaTrader 4 (Micro) real account—and check that you want it to be your contest account. Or assign your existing account as a contest account in your account list.

Make sure your contest account’s equity excluding bonuses is 50 USD or above to qualify for the upcoming prize drop. If you don’t have enough funds, make a deposit.

Start trading right away or wait for the next drop.

Note: Keep in mind that you can sign up several accounts for the contest if you want to.


Requirements for participation OctaFX 16 Cars contest

Only persons of legal age (18+) can take part in the Contest.

A person (hereinafter—‘Participant’) must have an OctaFX real account to take part in the Contest.

The Participant needs to check in a new or existing real MetaTrader 4 account for participation in the Contest.

The Participant needs to have at least 50 USD or 50 EUR (depending on the account currency) in his or her account (bonus funds not included) or deposit this amount into the account (this money is fully withdrawable), as well as open at least one trade in order to start competing for the nearest upcoming prize drop announced in the Participant’s region.

The real account that complies with the requirements (hereinafter—‘Contest Account’) is deemed to be participating in the Contest and is being rated from the moment it is checked in for the Contest. Which means only the orders opened within the run for the prize drop and after the moment the Contest Account has 50 USD or 50 EUR (depending on the account currency) in his or her account (bonus funds not included) are counted for the purposes of the contest.

Once checked in, the Participant does not need to repeat this procedure for future rounds of the Contest.

The Contest Account starts competing for subsequent prize drops if its Personal Funds (Equity excluding bonuses) are at least 50 USD (or EUR; bonus funds not included) at the moment when such prize drop is announced.

If the Contest Account’s Personal Funds fall below 50 USD or EUR, this account can’t compete for subsequent prize drops until its balance reaches this amount.

The Participant has the right to open and deposit to any number of the Contest Accounts. Note that each Contest Account is ranked as a separate participant! Results of different accounts cannot be combined!

The Contest Accounts owned by one Participant are assigned ascending numbers in the ratings. i.e. Participant_Name (1), Participant_Name (2), etc., in the chronological order of their joining the Contest.

By taking part in the Contest, the Participant unconditionally agrees to the Rules of the Contest.


Contest prizes and the procedure for determining the winners

The Contest consists of four prize drops. The Participants compete for each of them for three calendar months. The winners are determined by the overall rank they occupy at the moment specified on the Contest page under ‘Next drop in the world/India/Indonesia/Malaysia’. The prizes are presented to the Participants who got the highest ratings across all categories (Gain, Profit Factor, Traded Volume) in their region.

The Participant is deemed a winner of the Contest if the sum of all his or her placings in the rankings across all categories results in the top 10 lowest total. For instance, a Participant who has finished 1st, 2nd, and 4th respectively in the rankings of each categories (total sum of all places: 1+2+4=7) will be placed higher in the overall ranking, if his or her nearest competitor’s total sum of places is over 7 (2+3+3, 1+5+2, etc.). If the leading Participants have an equal total sum of their places, the final placement is determined by additional criteria (see Procedure for rating calculation below).

The Participants can only compete for the Prizes in the region of their initial registration.

The first prize goes to the first place winner. The second prize goes to the Participants who took 2–4 places. The third prize goes to the Participants who took 5–7 places. The fourth prize goes to the Participants who took 8–10 places.

The Prizes of the Contest depend on the region.

The Prizes in the global/world region (for a single prize drop):

  • First prize: Honda Civic
  • Second prize: 3 × MacBook Air 2019
  • Third prize: 3 × Samsung Galaxy S20
  • Fourth prize: 3 × Apple Watch

The Prizes in the India region (for a single prize drop):

  • First prize: Volkswagen T-Roc
  • Second prize: 3 × MacBook Air 2020
  • Third prize: 3 × Samsung Galaxy S20
  • Fourth prize: 3 × Samsung Galaxy Watch Active2

The Prizes in the Indonesia region (for a single prize drop):

  • First prize: Mitsubishi Xpander
  • Second prize: 3 × MacBook Air 2019
  • Third prize: 3 × Samsung Galaxy A71
  • Fourth prize: 3 × Samsung Galaxy Watch Active

The Prizes in the Malaysia region (for a single prize drop):

  • First prize: Honda Civic
  • Second prize: 3 × MacBook Air 2020
  • Third prize: 3 × Samsung Galaxy S10
  • Fourth prize: 3 × Samsung Galaxy Watch

The Company is entitled to change the prizes without prior notice.


Procedure for rating calculation for each category

Gain

Gain=(Personal Funds + Amount Withdrawn – Personal Funds When Deposited)/Personal Funds When Deposited × 100%

In this equation, Personal Funds are the Contest Account’s current equity excluding bonuses, Amount Withdrawn is the total amount of money withdrawn from the contest account after its checking in for the prize dop or making a deposit to it, Personal Funds When Deposited is equity of the Contest Account (bonus funds not included) at the moment of making a deposit to it.

In case the Participant makes several deposits when competing for one prize drop, the total gain is calculated as a sum of separate gains for all timespans between deposits:

Gain = Gain 1 (from Initial deposit to Deposit 2) + Gain 2 (from Deposit 2 to Deposit 3) + Gain N (After Deposit N).

Whenever the Participant makes a new deposit to the Contest Account, we fix the gain that is already made within this account before the deposit (Gain 1) and then start to calculate the gain after the deposit (Gain 2), until the current prize drop is raffled or another deposit is made.

Example:

You start the contest with the minimum deposit of 50 USD (or 50 EUR, depending on your account currency).

Over two weeks, you have made a profit of 300 USD and now you have 350 USD in your account. At this moment, your gain is (350-50)/50*100%=600%. Then you decide to add more funds (250 USD) to your account to be able to trade bigger volume. When you make this 250 USD deposit, we fix your gain at 600% (this is your Gain 1) and start to calculate your Gain 2. In another week, your account has grown from 600 USD to 800 USD. So your Gain2 at the end of this period will be (800-600)/600*100%=33.3%. And your total gain at the end of the same period will be Gain 1 + Gain 2 = 633.3%.

Profit Factor

Profit Factor = Profit from Trades (in USD) / Loss from Trades (in USD)

If the Participants have equal results, their ranking is determined by the financial total amount of their profitable trades—the Participant with bigger total wins.

Traded Volume

Traded volume = total volume of all trades opened competing for one prize drop.

If the Participant has several accounts, their achievements are not combined. The second and subsequent accounts are rated separately.

Overall ranking = sum of placings of the Participant across all three categories in the yearly ranking.

The winner is determined by the value of their overall ranking being the lowest numerical value.

If Participants have equal overall ranking, the winner is determined as follows:

1. The Participant with the numerically lowest sum of places in Profit Factor and Traded Volume categories wins.

2. The Participant with the highest Gain wins. (If the sum of places across Profit Factor and Traded Volume matches.)

In order to calculate the Gain and Profit Factor, we apply the following rules:

All trades opened prior to a new prize drop arrival are considered opened at the first applicable price after the new prize drop start. And all trades remaining open at the moment when the prize drop arrives are considered closed at the last price available.

Ranking data is calculated for each three-month run separately with strictly limited timings for the prize drop announcement and raffle.


FAQ

How is the overall ranking calculated?

Overall ranking = The sum of your places across all three categories in the yearly ranking - the higher the place, the smaller the number.

The winner is determined by their overall ranking being the smallest number.

If the participants have equal overall ranking, the winner is determined as follows:

1. The participant with the lowest sum of places taken in the Profit Factor and Traded Volume categories wins.

2. The participant with the highest Gain wins. (If the sum of places across Profit Factor and Traded Volume matches.)

Do I still have a chance to win if Ive made unprofitable trades?

If you have spoiled your contest statistics with several unsuccessful trades, you can make a Recharge and increase the odds for winning. The Recharge is a reset of all previously achieved results in order to start participating in the contest anew.

In order to perform a Recharge, you need to log in to your Personal Area, view your personal statistics, click the Recharge button, and make sure the trading account’s Personal Funds (equity excluding bonuses) is at least 50 USD or EUR and therefore qualified for joining the contest (otherwise deposit the required amount to qualify). All previous data regarding the balance, trades, traded volume, deposits, withdrawals, losses, and profits associated with this account will stop being counted in the contest statistics after the Recharge is made (this does not affect the account itself or trades being opened). The Recharge does not affect your previous results, i.e. the ranking you achieved when competing for the previous drops will not reset even if a winner makes the Recharge. You are entitled to use the Recharge any number of times.
Thank you for rating.
Source: https://octafxclub.com/octafx-16-cars-contest-00082
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