Terms and conditions of the Indonesia IB Contest
1.1. Octa Markets Incorporated (hereinafter—‘Company’) conducts the Golden Eight contest (hereinafter—‘Contest’) for the clients registered on the OctaFX site (hereinafter—‘Site’) as Introducing Brokers from India (hereinafter—‘Partners’).
1.2. 1.2. The Contest starts on 4 May 2020 (12 p.m. EEST) and ends on 26 June 2020 (11:59 p.m. EEST)..
1.3. The Contest prizes are:
1.3.1. One golden trophy coin of 50 grams weight.
1.3.2. Three golden trophy coins of 30 grams weight.
1.3.3. Four golden trophy coins of 15 grams weight.
1.4. 1.4. Registration for the Contest ends on 21 June 2020 (11:59 p.m. EEST)..
1.5. The official page of the Contest (hereinafter—‘Contest Page’) is posted at https://www.octafx.com/ib/golden-eight/
2.1. To become eligible for the Contest, the Partner undertakes to press the button ‘Take Part’ on the Contest Page.
2.2. The time from the moment the Partner pressed the ‘Take Part’ button on the Contest Page to the end date of the Contest is called the Participation Time.
2.3. The employees or individuals receiving salary from the Company are not eligible for the Contest.
3. Calculating results
3.1. The volume traded by the Partner’s registered referrals is only counted for the purposes of the Contest from the moment both the client is registered as the Partner’s referral and the Partner has pushed the button ‘Take Part’ on the Contest Page.
3.2. The volumes traded by the Partner on his or her trading accounts are not counted for the purposes of the Contest.
3.3. The volumes calculated as a second level commission (Master IB commission) is not counted for the purposes of the Contest.
3.4. Only the volumes of the trades both opened after the moment the Partner signed up for the contest and closed before the end time of the Contest are counted for the purposes of the Contest.
3.5. The volumes generated by the Partner’s referrals as the Copiers in the OctaFX Copytrading service are not counted for the purposes of the Contest.
3.6. Only the volumes of the Valid Order are counted for the purposes of the Contest.
3.6.1. Valid Order is an order that the Partner receives commission for. The order is considered as the Valid Order if it lasts for 180 seconds or more, has at least 30 points (3 pips) difference between open price and close price, and is not closed by the means of Partial close or Multiple close.
4. Winners and prizes
4.1. The Partner becomes eligible for the Contest prizes only if the Partner’s referrals trade a cumulative volume of at least 800 lots (hereinafter—‘Threshold’) within the Participation Time.
4.2. The first level prize is one golden trophy coin of 50-gram weight.
4.2.1. The Partner with the highest achieved volume above the Threshold by the end date of the Contest wins the first level prize.
4.2.2. If the Partners participating in the Contest fail to generate the volume set forth in Clause 4.1. hereof, the first level prize is not given out.
4.3. The second level prize is three golden trophy coins of 30-gram weight each.
4.3.1. Three Partners whose achieved volume above the Threshold will be ranked first, second, and third (excluding the result of the Partner who has won the first level prize) by the end date of the Contest win the second-level prize.
4.2.2. If the Partners participating in the Contest fail to generate the volume set forth in Clause 4.1. hereof, the second-level prize is not given out.
4.4. The third level prize is four golden trophy coins of 15-gram weight each.
4.4.1. Four Partners whose achieved volume above the Threshold will be ranked first, second, third, and fourth (excluding the result of the Partners who has won the first level prize and the second level prizes) by the end date of the Contest win the third level prize.
4.4.2. If the Partners participating in the Contest fail to generate the volume set forth in sub-clause 4.2.1. hereof, the third level prize is not given out.
4.5. First names or nicknames of the winners are posted on the Site within 15 days after the Contest end date.
4.6. The winners’ personal managers contact them within 7 days after the Contest end date to arrange when and where the prizes will be delivered.
4.7. The winner undertakes to provide original documents issued by the state body. The documents should be valid at the Contest end date and should contain the serial number, the winner’s photo, and the winner’s date of birth.
4.8. If the winner is unable to receive the prize, a trust agreement may be entered into for another person by the power of attorney.
5.1. The Company will run a background check on the winners, their legitimacy, information validity, and possible violations. Should any such issues be found, the Company reserves the right to cancel the Contest results.
5.2. The Company reserves the right to change the terms and conditions of the promotion without prior notification.
5.3. The Company is not liable for technical malfunctions and/or interruptions in the internet connection on the side of the client or third-party services, which could directly or indirectly affect the client’s participation in the Contest.
5.4. The Company is not liable for any delays or interruptions in service operation or data transmission, or performance failures in the OctaFX system, regardless of cause, including, but not limited to, hardware or software malfunction, or interruptions in the operation of the OctaFX system.
5.5. Any disputes that arise from the Contest and its results are subject to settlement by negotiations.
5.6. The English version hereof prevails. Any translations hereof, Contest pages, and statistics are for reference only. In case of any discrepancies between the English and other versions of these materials, the English version shall prevail.