OptionTrade Currency Wars Contest
OptionTrade is currently holding a Currency Wars contest. By participating in the contest, traders have the opportunity to win a share of the $4,000 in total prize money.
The period of the Currency Wars contest is from January 18th 2016 00:01 Server Time (GMT+2) to March 18th 2016 23:59 Server Time (GMT+2).
Eligibility and Requirements
Traders who have an approved and funded OptionTrade account are eligible. However, it is important to note that traders need to open an additional Currency Wars Contest account so as to be able to participate in the Currency Wars Contest. The base currencies of Currency Wars Contest accounts are the US Dollar (USD) and the Polish Zloty (PLN).
Traders need to make new deposits to their Currency Wars Contest account; that is to say, internal transfers from an existing OptionTrade account to the contest account are not permitted. The minimum deposit amount to the Currency Wars Contest account is 200 USD / 800 PLN, and the minimum amount for subsequent deposits is 100 USD / 400 PLN. During the contest, it is not permitted to withdraw funds from the Currency Wars Contest account.
Trading volume requirements
It is required that traders must execute at least 40 trades so as to be eligible to win the prizes. The minimum volume for a trade is 5 USD / 15 PLN. The static currency rate used for conversion is 1 USD = 4 PLN.
Two examples of participant who is eligible for winning a cash prize:
1. A trader placed 41 trades. The volume for each trade is 5 USD and the total volume is 205 USD. 2. A trader placed 50 trades. The volume for each trade is 15 PLN and the total volume is 750 PLN / 4 = 187.5 USD.
Two examples of participant who is not eligible for winning a cash prize:
1. A trader placed 5 trades. The volume for each trade is 200 USD and the total volume is 1,000 USD. 2. A trader placed 10 trades. The volume for each trade is 300 PLN and the total volume is 3,000 PLN / 4 = 750 USD.
These two participants are not eligible for winning prizes because they did not meet the requirement of minimum 40 trades.
On 18th March 2016 at 23:59 server time (GMT+2), opening of new trades will be disabled and Currency Wars Contest accounts will close. The results will be calculated and announced within two weeks following the completion of the contest. The 5 top participants with the highest volume on all positions will receive a cash prize. The cash prizes will be credited in their OptionTrade account.
The distribution of the prize fund is as follows:
- 1st place: 2,000 USD
- 2nd place: 1,000 USD
- 3rd place: 500 USD
- 4th place: 300 USD
- 5th place: 200 USD