Terms and conditions of the IB contest

1. Overview

1.1. Octa Markets Incorporated (hereinafter—‘Company’) conducts the Malaysia IB Contest (hereinafter—‘Contest’) for the clients registered on the OctaFX site (hereinafter—‘Site’) as Introducing Brokers from Malaysia (hereinafter—‘Partners’).

1.2. The Contest starts on 22 June 2020 (12 p.m. EEST) (hereinafter—’Start Date’) and ends on 14 August 2020 (11:59 p.m. EEST).

1.3. The Contest prizes are:

1.3.1. Honda HR-V vehicle

1.3.2. Honda CBR500R motorcycle

1.3.3. MacBook Pro

1.3.4. Samsung Galaxy S20

1.3.5. Galaxy Watch Active 2

1.4. Registration for the Contest ends on 9 August 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/ib-contest-malaysia/

2. Participation

2.1. To become eligible for the Contest, the Partner must push the button ‘Take Part’ on the Contest Page.

2.2. The time from the moment the Partner pushed the ‘Take Part’ button on the Contest Page to the end date of the Contest is called the Participation Time.

2.3. Employees or individuals receiving a salary from the Company are not eligible for the Contest.

3. Calculating results

3.1. The formula used to decide the winners of the Contest is as follows: net deposits (deposits minus withdrawals), divided by 20, plus the number of lots traded by the Partner’s referrals at the Company's service, which will generate a Partner’s point total.

3.2. Shall the Partner register in the Contest before the Start Date, the points are accumulated for the purposes of the Contest from the Start Date until the end of the Contest.

3.2.1. Shall the Partner register in the Contest after the Start Date, the points are accumulated for the purposes of the Contest from the moment such partner pushed ‘Take Part’ on the Contest Page until the end of the Contest.

 

3.3. The volumes traded by the Partner on his or her trading accounts and his or her deposits are not counted for the purposes of the Contest.

3.4. The volumes calculated as a second level commission (Master IB commission) are not 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 net deposits and the volumes of the trades opened and made 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. 

3.7. Only the volumes of the Valid Order are counted for the purposes of the Contest.

3.7.1. Valid Order is an order that the Partner receives a 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 the open price and close price, and is not closed by means of Partial close or Multiple close by.

4. Winners and prizes

4.1. There are no specific eligibility requirements for entry only to undertake the action of pushing the ‘Take Part’ button on the Contest page.

4.2. The first-level prize is one new Honda HR-V vehicle.

4.2.1. The colour and car configuration shown in the Contest promotion materials may vary from actual product.

4.2.2. If the prize car is not available in your region, the Company has the right to replace the first level prize with a vehicle of the same price.

4.2.3. The Partner who accumulated the largest total of points by the end of the Contest wins the first level prize. 

4.3. The second-level prize is one new Honda CBR500R motorcycle.

4.3.1. The Partner who accumulates the second-highest point total by the end of the Contest wins the second-level prize. 

4.3.2. The colour and vehicle configuration shown in the Contest promotion materials may vary from actual product.

4.3.3. If the prize vehicle is not available in your region, the Company has the right to replace the first level prize with a vehicle of the same price.

4.4. The third-level prize is one new MacBook Pro.

4.4.1. The Partner who accumulates the third-highest point total by the end of the Contest wins the third-level prize.

4.5. The fourth-level prize is one new Samsung Galaxy S20.

4.5.1. The Partner who accumulates the fourth-highest point total by the end of the Contest wins the fourth-level prize.

4.6. The fifth-level prize is one new Galaxy Watch Active 2.

4.6.1. The Partner who accumulates the fifth-highest point total by the end of the Contest wins the fifth-level prize.

4.7. First names or nicknames of the winners are posted on the Site within 15 days after the Contest end date.

4.8. The winners’ personal managers contact them within seven business days after the Contest end date to arrange when and where the prizes will be delivered.

4.9. The winner undertakes to provide original documents issued by their 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.

4.10. If the winner is unable to receive the prize, a trust agreement may be entered into for another person by a power of attorney.

4.11. If the prize is not available in the winner’s country for any reasons, the Company reserves the right to change the prize for another product of the same type and similar price.

5. Miscellaneous

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.

5.7 The Company reserves the right to disqualify participants based solely on their discretion. 

5.8. The winners undertake to participate in the award ceremony and any PR events associated with the Contest. The collected materials may be used by the Company on their own discretion.

5.9. The Company allows the winner to obtain the Main Prize in the nearest car dealership where the specific or similar car is available. 

5.10. The Company is not liable for the term of delivery by post or courier service, or for possible loss of the prize in the course of delivery caused by the third party. 

5.11. The Company is not liable for any tax charges that the winners may be due in their jurisdiction (including but not limited to property tax, vehicle tax, road tax, or other fees).