Demo Trading Competition Terms and Conditions

You MUST read and agree to these terms and conditions before participation in the competition. 

1. Eligibility Requirements: You must be at least 18 years old and may need to provide proof of identity and residency. 
2. Risk Acknowledgment: You acknowledge the risks associated with CFD trading, recognizing that CFDs are complex instruments and involve a high risk of rapid financial loss. 
3. All dates and times mentioned are in UAE local time. 
4. Trading Rules:  
   • You have read and understood the Competition’s specific trading rules, including the types of instruments that can be traded (e.g., forex, commodities, indices) and any restrictions on trading strategies. 
   • No scalping (defined as trades held for less than 2 minutes)  
   • No automated trading strategies (EAs or bots). 
   • Automated trading systems (EAs), copy trading, and external software are prohibited. 
   • Participants must not engage in fraudulent activities, including but not limited to manipulating trades or exploiting platform bugs. 
   • Trading Hours: All trades must be opened and closed during active market hours; no trades left open beyond the contest period. 
   • Margin Calls: If the account receives a margin call during the contest, it will not lead to disqualification but will impact the overall ranking. 
   • Any type of arbitrage trading or abuse of pricing and/or quotes will result in disqualification. 
   • Any client registered for more than one account will be disqualified.  
   • All trades must be closed before the contest ends. If there are any open trades at the time the contest ends, they will be automatically closed at the current market price. The presence of open trades at the time the contest ends will not result in disqualification. 
   • The Company reserves the right to reject or disqualify any participant without explanation. Reasons for disqualification may include: 
   • Using failures in the quote flow to secure guaranteed profit. 
   • Any other forms of cheating. 
   • The participant with the highest profit will win the competition. 
5. Competition Details:  
   • Competition registration starts from 1st of January 2025 and concludes on 16th of January 2025.
   • On the 17th of January, Participants will receive demo accounts funded with $5,000.
   • Demo accounts will be valid and activate from the 20th till the end of day 31st of January.
   • Participants must trade a minimum of 20 standard lots on the demo account. And Minimum of 1 standard lot per day.   
   • The participant must trade at least 5 different Products.  
   • This competition is only for FX and Metals.  
   • The participant with the highest profit will win the competition.  
   • The winner will be announced on 7th of February 2025. 
   • The “Close By” method won’t be calculated in the traded positions. 
6. Competition Duration: Competition registration starts from 1st of January 2025 and concludes on 16th of January 2025. On the 17th of January, Participants will receive demo accounts funded with $5,000. Demo accounts will be valid and activate from the 20th till the end of day 31st of January. Please adhere to these timelines.
7. Prizes and Payouts:  
   • The winner will be announced on 7th of February 2025. 
   • The winner will receive a $5,000 live trading account. 
   • The winner must complete the onboarding process and provide bank details to access live account and for withdrawals
   • To withdraw the $5000, the winner must trade a minimum of 200 standard lots within 30 calendar days. 
   • If the 200 lots requirement is not met, the winner can only withdraw profits based on the high watermark. (example if he makes $6000, he will be able to withdraw $1000) 
   • Lot calculations will include Forex and metals only. 
   • Failure to meet the requirements will result in prize forfeiture. 
8. Client onboarding and KYC – You will be subject to various processes to assess the appropriateness and suitability of your application to become a client of Daman Markets.  
   • Prior to opening your Account (and at any time thereafter), we will carry out or refresh ‘know your client’ (“KYC”) and ‘client due diligence (“CDD”) checks in accordance with Applicable Regulations and our internal Policies and requirements.  
   • You agree to promptly provide us with all the information we require from you. Accordingly, we reserve the right to decline an application to become a client, at our sole discretion and without providing a reason. 
9. Disqualification Clauses: We reserve the right to disqualify you, where we detect fraudulent activity, manipulation of the competition, or failure to meet the eligibility criteria or comply with the rules. 
10. Amendments to Terms: We reserve the right to change the terms and conditions at any time, and you may be required to accept these changes to continue in the competition  
11. Governing Law: The competition,  all non- contractual obligations and other matters arising from it or in connection with it shall be governed by and construed in accordance with the laws of the United Arab Emirates as applied in Dubai.