http://crm.fxopen.com/KnowledgeBase/...petitions.ashx
Traders Competition – is a type of activity, when participants, having equal time limits and rules, compete against each other in Forex trading. Bonuses are usually awarded for successful results at the end of the competition.
A Competition is started by a System Administrator or a Manager. On creating a new competition, competition parameters must be specified and invitations to join the competition will be sent out to traders.
1. Types of Competitions
2. Competition Parameters
3. Competition Status
4. Competition Member’s Status
1. Types of Competitions
ForexCup competitions can of the following 3 types:
Type of competition Icon Descroption
One Against One Image
Two traders competing one against the other.
Team Against Team Image
Two teams of traders competing one against the other. The maximum number or team members may be limited by the Administrator.
Free for All
Image
A group of traders may participate but each trader trades individually. The maximum number of participants may be limited by the Administrator.
2. Competition Parameters
Name ― the name of the competition that is shown to traders, the Manager and the Administrator.
Type ― one of the three competition types listed above.
Min Lot Size ― the minimum volume that can be used for trading in the competition.
Max Lot Size ― the maximum volume that can be used to trade in the competition.
Start Debit ― the starting amount of virtual money that will be added to the member’s demo account.
Using Expert Advisers ― this parameter specifies if using Expert Advisors is allowed in this competition1 or not.
Leverage ― the borrowed to own funds ratio that must be maintained in members' accounts.
Maximum Orders ― the maximum allowed quantity of simultaneous active orders.
Status ― see Competition Status.
Rating (Competition Rating) ― the total number of participants in all subscriptions to this competition.
Manager ― the information about the person who created the competition (name and e-mail).
Pairs of Currencies ― currency pairs or other instruments (e.g. gold or silver) that can be traded in this competition.
Prizes ― the monetary award paid to the most successful traders at the end of the competition.
Image Please, note! Prize money for Level 1 competitions is indicated in USD (absolute value), while for Level 2 competitions, prize money depends on the number of participants and is indicated in percent from the total prize money pool.
Registration (Start Date, End Date) ― the date and the time when the registration for this competition starts/ends.
Competition (Start Date, End Date) ― the date and the time when this competition starts/ends.
Fee ― the amount of money a trader is required to pay to take part in the competition2.
Commission ― a fixed percentage of the entry fees paid by all participants of the competition round that is charged by the Company and is transferred to the person who created the competition3.
1 A trader can use expert advisors only if it is allowed by Competition Rules. If unauthorized use of the expert advisers has been uncovered the trader will be suspended from participation, will receive 1 Loss point and -100% of Total Profit
2 Only for Level 2
3 Only for Level 2
3. Competition Status
A competition at any point in time may have one of the statuses listed below:
Registration Started ― the registration of participants in this competition has already started but has not ended yet.
Registration Finished ― the registration for this competition has already ended, but the competition itself has not yet started. At this point the Competition Subscriptions as well as the number and the make-up of Trading Rooms is being reviewed (see Competition Rounds) Subscriptions and Trading Rooms that do not comply with the Rules will be deleted and entry fees will be returned to traders’ accounts.
Competition Started (Running) ― the competition has already started but has not yet ended.
Competition Finished ― the competition has ended; the competition results are being analyzed and will be announced by the administrator within 2 days from its end.
4. Competition Member’s Status
ForexCup allows for two types of competitions.
None ― this status is assigned to traders in any newly-created competition, until they express their willingness to participate in it or join at least one of the competition rounds (see Competition Rounds).
Member ― traders may get this status in one of the two cases:
if they decided to participate in one of the competition and clicked Add me;
if they have been invited to join this competition by another trader or other traders or by competition creator.
Player ― traders may get this status in one of the two cases:
аfter they have confirmed their final decision to take part in the competition and have accepted an invitation from another trader by clicking Accept;
аfter they have created a competition subscription of their own and confirmed their participation by clicking Save and Accept.
...yes sir, that's why FxOpen hired so many Moderators.
....but I think
they can disable the "Expert Advisor" or something like that inside the MT4 trading platform so no EA/Robot can be used.
Originally Posted by Prezident
