Contests / Great Race / Terms and Conditions

I. General Provisions

• • 1. Great Race contest is arranged by InstaSpot.
  • 2. The contest includes 4 steps and the final.
  • 3. Contest running period:
  • - 15.03.21 – 16.04.21;
  • - 17.05.21 – 18.06.21;
  • - 19.07.21 – 20.08.21;
  • - 20.09.21 – 22.10.21.
  • 4. Registration period for four contest steps:
  • - 25.01.21 – 14.03.21;
  • - 15.03.21 – 16.05.21;
  • - 17.05.21 – 18.07.21;
  • - 19.07.21 – 19.09.21.
  • 5. Contest final: 15.11.21 – 17.12.21.
  • 6. Registration in the final starts on 20.09.21 at 00:00 and finishes on 14.11.21 one hour before the contest starts.
  • 7. Prize pool of the contest is $55,000.
  • 8. The line of prizes for the first four steps of the contest is the following:
  • - 1 prize – $3000;
  • - 2 prize – $2000;
  • - 3 prize – $1500;
  • - 4 prize – $800;
  • - 5 prize – $600;
  • - 6 prize – $400;
  • - 7 prize – $300 + 40 bonus points;
  • - 8 prize – $250 + 30 bonus points;
  • - 9 prize – $200 + 20 bonus points;
  • - 10 prize – $150 + 10 bonus points;
  • - 11 prize – $100 + 5 bonus points.
  • 9. The line of prizes for the contest final is the following:
  • - 1 prize - $6000;
  • - 2 prize - $3500;
  • - 3 prize - $2300;
  • - 4 prize - $1500;
  • - 5 prize - $1000;
  • - 6 prize - $850;
  • - 7 prize - $750;
  • - 8 prize - $550;
  • - 9 prize - $350;
  • - 10 prize - $300;
  • - 11 prize - $250;
  • - 12 prize - $200;
  • - 13 prize - $150;
  • - 14 prize - $100.
  • 10. In addition to money, bonus points are also given in the first 4 steps of the contest which can be used at the final of the contest. Participant gets additional $1000 to the initial deposit of his contest account for every bonus point. Participants who have taken part in the previous steps of and got bonus points should send an email to tournament@instaforex.com requesting a bonus to their accounts at the contest finish.

II. Participants

• • 1. Every InstaSpot client can participate in all steps of the contest.
  • 2. Only full-aged customers (over 18 years old) may participate in the contest.
  • 3. Every contest participant shall register on InstaSpot website.
  • 4. Participant agrees to provide true data, full name identical to one specified in the ID document and available contact email.
  • 5. In case trading on two or more accounts is conducted from the same IP, the Contest Administration reserves the right to dismiss their owner(-s) . Thus, we strongly recommend not to employ GPRS- and 3G- modems.
  • 6. The organizer reserves the right to decline registration of any participant without explaining the reason or disqualify any participant during or after the contest is over with explanation. The reason for disqualifying can be opening of big volume opposite orders with the same currency pairs on different trading accounts at the same time approximately, as well as usage of errors in the quote flow for getting a guaranteed profit.
  • 7. Signing up for the contest the participant accepts all restrictions and rules of the contest.
  • 8. Participation of close relatives in the same contest is forbidden. If the registration data of the contestant's account coincides with the one of another contestant, the company has a right to regard this matching as a reason for disqualification.

III. Trading Terms

• • 1. After the contest registration is completed the participant becomes a demo account holder.
  • 2. Initial deposit is $100,000 for all participants and it cannot be changed.
  • 3. 1:500 leverage.
  • 4. Demo account is opened for every step of the contest.
  • 5. All orders put at non-market price are destined to cancellation. The Contest Administration reserves the right to disqualify an account, in case it was employed for trading at non-market quotes.
  • 6. Contest participants may use Expert Advisors and any trading strategies without restrictions.
  • 7. Major currency pairs and Forex crosses are the only available trading instruments at the contest.
  • 8. Minimal trade volume is 0.01, maximal - 10 lots. A step is 0.01 lots.
  • 9. Contest participant can change his trading account to Swap free by contacting the Support Department.
  • 10. The maximum number of open trades including pending orders is 5.
  • 11. Stop Out level is 10%.
  • 12. Other trading terms for contest trading accounts are the same as for live trading accounts with InstaSpot.

IV. Winner Determination

• • 1. After each contest step finishes all deals are closed automatically at current prices.
  • 2. The biggest deposits holders will be pronounced as winners.
  • 3. In case two participants have the same profit, the winner is determined by the company.
  • 4. The contest winners yield their names to be published.
  • 5. The organizer reserves the right to decline the participant's registration request without reasoning and disqualify the participant, either during the contest or after it has finished, upon direct or indirect evidence of attempted fraudulent operations with the prize funds.
  • 6. The company reserves the right to decline to credit the prize money if the participant accumulates the prizes on one or several accounts.

V. Results Publishing

• • 1. The balance of participants accounts is available in free access on the company's website during the contest period.
  • 2. The company reserves the right to publish participants statements after the contest finishes.
  • 3. Residential data of participants can be published as well.
  • 4. Contest results will be revealed during a month after the contest finishes and all checking procedures are completed.

VI. Prize Taking

• • 1. The winners should open and verify their live trading accounts within 30 days after the contest results are published.
  • 2. The prize funds will be credited to a verified live trading account opened by the winner.
  • 3. The winner acknowledges liability for any activity on the account opened by the contest and Campaign Administration lying within the scope of the agreements and regulations of InstaSpot.
  • 4. Prize money cannot be withdrawn from the account. Any profit made over the prize amount can be withdrawn.
  • 5. The organizer reserves the right to declare any already given prize invalid and subject to cancellation upon direct or indirect evidence of attempted fraudulent operations with the prize funds.
  • 6. A trading account is charged off automatically at filing application for withdrawal. At considering the application specialists make sure that the balance and free margin comply with the amount of funds available for withdrawal. In case of incompliance the sum specified in the withdrawal application is credited back to the account.
  • 7. The Winner agrees that after any withdrawal is made the prize is being cancelled in full amount.

VII. Language

• • 1. The language of the present rules is English.
  • 2. For the participant convenience, the organizer can provide the rules in a language different from English. The translated version of the rules is of a merely informative character.
  • 3. In case of variant readings of a translated version and the rules in English, the rules in English are considered as a prior reference standard.