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  • 1How to win
  • 2Prizes
  • 3Participation
  • 4Registration
  • 5Contest schedule
  • 6Contest account
  • 7Personal information
  • 8Deposit
  • 9Trading platforms
  • 10Contest rankings
    • What is the OctaFX 16 Cars contest?
      This is a trading contest on real accounts for both novice and experienced traders. In this contest, you can win cars, MacBook laptops, smartphones, and smartwatches every three months.
    • Is it free?
      Yes. You can participate in the contest absolutely free of charge. But mind that to qualify for the contest, you need to have at least 50 USD or EUR invested into your account.
    • How do I win?
      To win a prize you need to achieve the highest results possible across all three categories before the prize drop arrives. The traders performing best will win the main prizes. When the winners are determined, all results are reset, and all participants can start competing for the next drop.

      Regardless when you enter the race, you can win.

      New deposits made to your contest account do not negatively affect your current Gain, can positively affect your future Gain, and increase your chances in the Traded Volume category!
    • What should I focus on?
      To win in the Gain or Profit Factor categories, you need to trade well. Every profitable trade will increase your ranking. To win in the Traded Volume category, the amount of your balance is what mostly matters. The higher your balance, the more orders you can close and more lots you can trade.

      But remember, that to win, you need to be as close to the top as possible in all three categories.
    • How is Gain calculated?
      Gain = (Personal Funds + Amount Withdrawn – Personal Funds When Deposited) / Personal Funds When Deposited × 100%

      In this equation, Personal Funds are the Contest Account’s current equity excluding bonuses, Amount Withdrawn is the total amount of money withdrawn from the contest account after its checking in for the prize dop or making a deposit to it, Personal Funds When Deposited is equity of the Contest Account (bonus funds not included) at the moment of making a deposit to it.

      If you make several deposits when competing for one prize drop, the total gain is calculated as a sum of separate gains for all timespans between deposits: Gain Sum = Gain 1 (from Initial Deposit to Deposit 2) + Gain 2 (from Deposit 2 to Deposit 3) + Gain N (After Deposit N).

      Whenever you make a new deposit to your contest account, we fix the gain that has already been made in this account before the deposit (Gain 1) and then start to calculate the gain after the deposit (Gain 2), until the current drop finds its winners or another deposit is made.

      Example: You invested 100 USD into your contest account and claimed a 50% bonus to it (50 USD). While trading, you withdraw 50 USD to support your margin on your other account, but as you trade profitably, at the end of the day, your balance ends up to be 250 USD (including the bonus amount). In the next few weeks, you did not make any withdrawals but added 100 USD more to this account and then raised your balance to 650 USD (including the 50 USD bonus claimed to your first deposit) by the moment of summarising the results.

      In this case, your Gain will be calculated as a sum of four steps; bonus funds to not affect the calculations.

      Step 1. You withdrew 50 USD in the course of trading, and your balance, without bonuses, is now 50 USD. Gain #1 = 0.

      Step 2. You made a profit of 150 USD, you also had 50 USD of your funds + 50 USD of bonus funds on your balance. Gain #2 = 150 (profit) × 100% / 50 (your funds) = 300%.

      Step 3. You added 100 USD to your balance, which became equal to 300 USD without bonuses. Gain #3 = 0%.

      Step 4. You made a profit of 300 USD, you also had 300 USD of your funds on your balance. Gain #4 = 300 (profit) × 100% / 300 (your funds) = 100%.

      So, your overall gain is calculated as follows: Gain = 0% + 300% + 0% +100% = 400%
    • How is the Profit Factor calculated?
      Profit Factor = Profit from Trades (in USD) / Loss from Trades (in USD)

      If you have equal results with another participant, your ranking is determined by the volume of your profitable trades—if you have greater volume, you win. If these volumes also match, you win if you obtained this profit with fewer trades.
    • How is the Traded Volume calculated?
      Traded volume = total volume of all trades made during competing for one drop.

      The volume of trades opened before signing up for the contest is counted in your statistics for the first prize drop you compete for.
    • How is the overall ranking calculated?
      Overall ranking = The sum of your places across all three categories in the yearly ranking - the higher the place, the smaller the number.

      The winner is determined by their overall ranking being the smallest number.

      If the participants have equal overall ranking, the winner is determined as follows:

      1. The participant with the lowest sum of places taken in the Profit Factor and Traded Volume categories wins.

      2. The participant with the highest Gain wins. (If the sum of places across Profit Factor and Traded Volume matches.)
    • Do I still have a chance to win if I've made unprofitable trades?
      If you have spoiled your contest statistics with several unsuccessful trades, you can make a Recharge and increase the odds for winning. The Recharge is a reset of all previously achieved results in order to start participating in the contest anew.

      In order to perform a Recharge, you need to log in to your Personal Area, view your personal statistics, click the Recharge button, and make sure the trading account’s Personal Funds (equity excluding bonuses) is at least 50 USD or EUR and therefore qualified for joining the contest (otherwise deposit the required amount to qualify). All previous data regarding the balance, trades, traded volume, deposits, withdrawals, losses, and profits associated with this account will stop being counted in the contest statistics after the Recharge is made (this does not affect the account itself or trades being opened). The Recharge does not affect your previous results, i.e. the ranking you achieved when competing for the previous drops will not reset even if a winner makes the Recharge. You are entitled to use the Recharge any number of times.
    • What are the prizes every drop?
      The prizes differ in every region. But each drop always brings 10 prizes in one region: one car, three laptops, three smartphones, and three smartwatches. You can always check the upcoming prizes in your region on the contest page.
    • Will you deliver the prize to my country?
      Yes, we will ship your prize to your location.
    • Can I take money instead of the car?
      We will only transfer money instead of a car to you in exceptional cases. If we do, we'll transfer it into your trading account or bank account.
    • How soon will I receive the prize?
      This will take a little time. We will contact you within seven business days after determining the winners.

      Keep in mind that we run a background check on the winners, their legitimacy, information validity, and possible violations. You'll need to provide a full set of original documents (passport or other ID certifying your residence) before being able to take the prize. Your ID must be valid.

      Then we will send you your prize or appoint a date and time for the prize award ceremony.
    • Can I win prizes from several drops?
      That depends on the place you take. You can win prizes from every drop, but only until you win a car and become an absolute winner. Absolute winners cannot compete for other drops.

      For instance, if you are placed third when the first drop arrives, you win a MacBook Air and can compete for other prizes in the next three-month run, but if you win a car after that, you won’t be able to participate and fight for the third prize drop.
    • How do I join the contest?
      You have two options.

      Create a dedicated contest account. Sign up or log in to your Personal Area, create a new real account, and check the box Sign up This Account for OctaFX 16 Cars. Make sure your first deposit amounts at least 50 USD or EUR.

      Assign your existing real account for the contest. Sign up or log in to your Personal Area, pick a MetaTrader 4 account you are willing to sign up for the contest in the My Accounts list at the bottom of the page, press this account and select Assign as contest account. Make sure your first deposit amounts at least 50 USD or EUR.

      Keep in mind that you can sign up several accounts for the contest if you want to.
    • Can I join the contest right away after signing up?
      Yes, you can join the contest at any moment. We'll start to record your contest ranking the moment you register for OctaFX 16 Cars with a new or existing trading account containing Personal Funds of 50 USD (EUR) or more.
    • Can I compete for several drops with one trading account?
      Yes, you can. You only need to register your real account once, and it will automatically participate in all subsequent runs as long as its Personal Funds (equity excluding bonuses) amount to 50 USD (EUR) or more. If your Personal Funds drop below 50 USD (EUR) when a new drop arrives, the account will not qualify for this run until you replenish the Personal Funds to at least 50 USD (EUR).

      I registered an account for the contest, but I'm not in the rankings and I did not receive a link to the contest statistics. Why is that?

      Simply registering an account for the contest is not enough to participate. Your account will be activated for the contest and its performance will be counted in the ranking only after you top up your balance by enough that its current equity excluding bonuses becomes at least 50 USD (EUR).
    • Who can participate in the contest?
      Anyone of legal age (18+) with an OctaFX real account.
    • When does registration begin and how long does it last?
      You don't need to register in advance. Just sign up your real account for the contest at any moment and start trading when the prizes appear on the contest page.

      We’ll close registration seven days prior to the contest end date.
    • How do I register for the OctaFX 16 Cars contest?
      You just need to create a MetaTrader 4 (Micro) account and check this account as a contest account, or assign your existing MetaTrader 4 (Micro)account, and make sure that your account’s Personal Funds (equity excluding bonuses) are 50 USD (or its equivalent in EUR) or above.

      To register, press Join Contest on the contest page or go to your Personal Area, pick a MetaTrader 4 account you are willing to sign up for the contest in the My Accounts list at the bottom of the page, press this account and select Assign as contest account.
    • When does the contest start?
      Start date is 17 August 2020.
    • How many drops with prizes will arrive in the contest?
      We plan to make four prize drops in every region.
    • What’s the time span between drops?
      All prize drops arrive without any interruptions or pauses every three months.
    • How will I know when the current drop arrives?
      You can find the date when the winners will be determined on the Contest Page.
    • Can I compete for several drops with one trading account?
      Yes, you can. You only need to register your real account once and will be able to compete for all drops in your region automatically as long as its Personal Funds (equity excluding bonuses) add up to 50 USD (EUR) or more. If your Personal Funds drop below 50 USD (EUR) when a new drop is announced, the account will not qualify for it until you replenish your Personal Funds to at least 50 USD (EUR).
    • Which trading accounts can I use for participation in the contest?
      You can use MetaTrader 4 (Micro) real accounts for the contest.
    • Can I participate in the real contest if my OctaFX profile is not verified?
      Yes, you can. Keep in mind though that we only give away prizes to verified users, so we recommend you verify over the course of the contest.
    • Can I register for the contest with several trading accounts?
      You are free to open any number of contest accounts and add money to them. Note that each contest account is ranked as a separate participant. Results of several accounts will not be combined.

      Using several different profiles opened on OctaFX is forbidden. If we reasonably suspect two profiles or more to be managed by one person, all trading accounts opened under these profiles will be banned from the Contest.

      Trading conditions
    • What are the trading conditions?
      Contest accounts apply the same trading conditions as ordinary real trading accounts of the same type do. Read through real account conditions
    • What are the trading techniques allowed?
      All trading techniques or EAs (robot trading) are allowed. But any kind of arbitrage trading or any other abuse with pricing and/or quotes, as well as the usage of failures in the quote flow for getting guaranteed profit will be subject to disqualification from the contest.
    • Are hedging and reverse trading strategies allowed?
      Yes, you can apply these strategies.
    • Can I adjust the leverage ratio applied to my contest account?
      Yes, you can. This adjustment doesn't affect your contest statistics.
    • Do I need to have an account in a particular currency to participate in the contest?
      No, you don't. Any real MetaTrader 4 account will do, as long as it's Personal Funds (equity excluding bonuses) are at least 50 USD or EUR.
    • What is an avatar? Why should I upload it?
      It’s an image for your personal contest page and statistics. You can use any image you want or a photo of you. Please do not upload your ID or any other legal document!
    • I cannot enter my nickname in the registration form, what’s wrong?
      Either this nickname is already taken, or you are not using Latin characters. Please choose another nickname with English letters only.
    • How can I change my contest nickname?
      Get in touch with our Customer Support. Unfortunately, you can’t do it yourself at present.
    • Can other participants see my account balance?
      No, other participants can’t see your balance, equity, or profits and losses. Publicly available ratings only provide relevant information: current ranking, per cent of balance or equity change, Gain expressed as a percentage, Profit Factor, and so on. All absolute values regarding your account are only visible to you when you are logged in with your password.
    • What’s an initial deposit?
      All your Personal Funds (equity excluding bonuses) in the account signed up for the contest are considered an initial deposit when a new drop arrives.

      To start participating in the contest, your initial deposit should be 50 USD (EUR) or more.
    • Can I withdraw money from my contest account?
      You can withdraw money from your contest account at any time. However, if your Personal Funds (equity excluding bonuses) drop below 50 USD (EUR) after a withdrawal, the account will not qualify for the next drop.
    • Can I apply for a deposit bonus if I participate in the real contest?
      Yes, you can. But please note that it has no impact on your stats.
    • Will new deposits affect my Gain if I make them in the course of the contest?
      No, they won't. Whenever you make a new deposit to the Contest Account, we fix the Gain that has already been made within this account before the deposit (Gain 1) and then start to calculate the Gain after the deposit (Gain 2) until the prize drop is drawn or another deposit is made. Therefore your Gain volume will not be affected by new deposits.

      To know more about what Gain is and how it is calculated, see the corresponding question.
    • What are trading platforms eligible for trading within the contest?
      MetaTrader 4 only.
    • Where can I download the trading platform?
      You can find the latest version of the MT4 platform in our Download Centre.
    • Do I need to download a trading platform or can I just use its browser version?
      The browser versions will do. You can use your browser to quickly access the MT4 web version.
    • Can I trade with my smartphone?
      Yes, you can trade directly in our trading app, or use the MT4 mobile app.
    • What password should I use for trading?
      You should use your Trader password, not your Investor one!
    • How can I view my contest rank?
      Log in to your Personal Area, find your contest account in the My Account list, and press Personal Stats.

      Or find your nickname on the Leaderboard and press it. You’ll see your contest statistics with your rank, profit, loss, rank changes, achievements, etc.
    • How can I check the current leaders?
      Just view the Leaderboard tab.
    • How can I find contest stats for another contestant?
      If you know his or her nickname, navigate to the OctaFX 16 Cars contest page, view the Leaderboard, and enter the name in the search bar at the top right corner.
    • How can I find contest stats for another contestant?
      If you know his or her nickname, navigate to the OctaFX 16 Cars contest page, view the Leaderboard, and enter the name in the search bar at the top right corner.
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