Naija Forex Contest
Oya, Come show Your Skill
The contest will run from 29-05-2017 till 31-07-2017
Register your account
Start from 29.05.2017
|Ranking||Account #||Nickname||Deposit||Profitability (%)|
1. Contest period, registration, and participation terms
- 1.1. The registration in the contest “Naija Forex Contest” starts 2 weeks before the launch of the contest, at 00:00:01 on 15.05.2017 (according to the time GMT +3 as indicated within the trading platform) and lasts during the whole contest period.
- 1.2. The contest “Naija Forex Contest” is carried out from 00:00:01, 29.05.2017 till 00:00:01, 31.07.2017 (according to the time GMT +3 as indicated within the trading platform).
- 1.3. The official results of the contest will be announced and published within 10 business days after the contest has ended.
- 1.4. The contest is carried out for Tifia’s clients from Nigeria.
- 1.5. Any holder of a trading account with the Tifia Company who has registered his/her Client’s Profile may participate in this contest. In the absence of the Client’s Profile, the client needs to register his Profile and open a trading account that the participant wishes to register in the contest.
- 1.6. A trading account that is supposed to participate in the contest “Naija Forex Contest” must be registered in this contest. The registration form is located on the contest page https://tifia.com/contests/regional/naija-forex-contest
- 1.7. The client may register in the contest up to 10 trading accounts of type START, ECN Classic and ECN Pro opened within MT4 platform.
- 1.8. When registering in the contest, the Client guarantees that his personal details specified in the Client’s Profile are up-to-date and true.
- 1.9. Having filled in the registration form to participate in the contest “Naija Forex Contest”, the participant will receive a registration confirmation letter to his/her email address.
- 1.10. The participation in the contest “Naija Forex Contest” implies acquaintance and consent to the contest rules and the company’s regulations described in the Client agreement and Terms of Business.
- 1.11. The initial capital required to participate in the contest “Naija Forex Contest” amounts to 100 USD or equivalent equal to 40 000 NGN. Only the Client’s own funds deposited in the account by means of payment systems can be regarded as the initial capital. The initial capital can’t include funds transferred into the contest account from the Client’s another trading account.
- 1.12. Trading on the contest accounts can be carried out during the registration period. Trading operations conducted before the start of the contest will not be considered in the contest ranking.
- 1.13. The participants’ trading results will be published in the Contest review on the contest page. The results will be updated with a 1-hour delay in order to prevent the copying of trades.
- 1.14. The Tifia Company is the official organizer and sponsor of the contest “Naija Forex Contest”.
- 1.15. The Tifia Company has the right to amend the contest conditions at any time and without any special notification.
2. Election of winners and conditions of work on the contest account
- 2.1. The first 10 participants who have reached the highest profitability level according to the contest results confirmed by the final check will be considered as the winners of the contest “Naija Forex Contest”.
The profitability (%) is calculated as follows:
- % Profit = ( EquityFinal / ( EquityStart + Σ(Deposit) ) -1 ) * 100%, where:
- EquityFinal = BalanceFinal + CreditFinal + Floating PL
- EquityFinal = BalanceFinal + CreditFinal + Floating PL
- Conventional signs:
- EquityStart — the amount of funds available at the beginning of the contest;
- EquityFinal — the current amount of funds or the amount available at the end of the contest;
- BalanceStart — the balance at the beginning of the contest;
- BalanceFinal — the current balance or the balance at the end of the contest;
- CreditStart — the bonus available at the beginning of the contest;
- CreditFinal — the current bonus or the bonus available at the end of the contest;
- SUM DPST – the total of all deposits made during the contest;
- Floating PL — floating profit and loss on open positions.
- The profitability will be calculated as soon as the contest starts and the initial capital of $100 or 40 000 NGN is deposited in the contest account.
- 2.2. Only those participants who have been actively trading during the contest period and have traded at least 1% of lots of their deposit (Example: deposit $100, $100 x 1% = 1 lot) can be recognized as winners. Also winners must have positive profitability at the end of the contest.
- 2.3. If several participants have reached the same profitability level as per the contest results, a higher place will be awarded to the participant that has executed more trades during the contest.
- 2.4. Regardless of the number of accounts partaking in the contest, the participant can claim only one prize place; accordingly, in case several trading accounts of the same participant have been ranked among the top 10 accounts, only one of his/her accounts will be kept – the one with the highest profitability level. This participant’s other accounts will be eliminated from the ranking and the ranking will be shifted.
- 2.5. The margin requirements and trading conditions correspond to the type of account. The leverage level on the account participating in the contest may not be changed during the contest.
- 2.6. The participant may use any trading advisors and strategies that comply with the Terms of Business.
- 2.7. The Tifia Company reserves the right to refuse registration in the contest to the Client or to disqualify him/her during the contest “Naija Forex Contest” or during the check of results without explanation and without any special notification.
- The reasons for disqualification:
- Violation or non-observance of the contest rules
- Violation or non-observance of the Client agreement and Terms of Business;
- Provision of false personal information when registering or refusal to confirm personal information by corresponding documents;
- Illegal trading between 2 or more participants with the view of making guaranteed profits by one of them;
- Opening of inverse transactions of big amounts on the same financial instruments on different accounts and at the same time approximately;
- Use of quotes flow failures to make guaranteed profits;
- Ascertainment or suspicion that a Participant has committed any kind of fraudulent action for being listed among the winners.
- 2.8. In case of disqualification, the participant’s account will be excluded from the ranking and from the contest, but the participant will be able to continue trading on this account according to the general trading rules at Tifia.
- 2.9. A situation which is not covered by these rules or Tifia’s official regulations shall be sorted out by means of talks. The final decision shall be made by the organizer of the contest and shall not be revised.
3. Awarding of winners and prize receipt rules
- 3.1. The winners of the contest “Naija Forex Contest” will be awarded the following prizes:
Rank Prize 1 $2000 2 $1000 3 $500 4th – 10th $50
- 3.2. Before receiving the prize, the winner must confirm his phone number, identity and address in the Client’s Profile. The winner must fully verify his personal profile according to the requirements described in Tifia’s AML policy.
- 3.3. The winners will receive their precious prizes within 10 business days after the final results have been announced, provided that the conditions of the item 3.2 are respected.
- 3.4. The prize money will be added to the “balance” column, on the winner’s trading account with the Tifia Company. After that the prize money can be used in trading, profit-making or fully withdrawn from the account without any limitations.
- 3.5. The Tifia Company has the right to refuse to award a prize to a participant without explanation on suspicion of violation of contest rules or in case the winner refuses to verify his personal profile and provide copies of his documents or any other personal details.
- 3.6. The Tifia Company reserves the right to use the information related to the winning accounts for advertizing purposes and publish it in any sources of information. The winners are invited to participate in Tifia’s advertising and marketing actions such as interviews, photo- and video-reportages, and press releases concerning the contest. At the same time Tifia commits itself not to divulge the winner’s private information (including name and surname) without the winner’s consent. Should a winner refuse to participate in these actions, the Tifia Company reserves the right to disqualify the winner and award the prize to the participant occupying the next place in the final ranking.
The contest will run from 29.05.2017 till 31.07.2017.
- To be able to participate in the contest, you only need to deposit $100 or 40 000 NGN as initial capital in your contest account. The deposit amount is not limited – you can increase your winning chances if you want!
Risk Warning. Trading on financial markets carries risks. Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, CFDs may not be suitable for all investors because you may lose all your invested capital. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved taking into account your investment objectives and level of experience. Click here for our full Risk Disclosure.
Our company’s service is not provided to the citizens (residents) United States of America, Canada, Israel, Belgium, Japan and the Republic of Vanuatu and citizens of any state or country where the service is not made available.
This site contains basic information that is relevant to the following companies:
- Tifia Markets Limited is licensed as a "Dealer in Securities" (registration number 40209) by the "Ministry of Finance and Economic Management" and regulated in accordance with the "Dealers in Securities (Licensing) Act [CAP.70]" of the Republic of Vanuatu. The Company address: Govant Building, BP 1276 Port Vila, The Republic of Vanuatu.