Contest rules

1.- Prize: Samsung Gear S2 Smartwatch

  • The "GURU MINING" competition consists of several trading groups that will compete between three and six weeks (variable period). GMT Prime will determine the closing date of each group, and it will be announced one week in advance. Due to the variable duration of each group (3-6 weeks), at certain times of the competition there will be several active groups with different sets of users. (mutually exclusive sets).
  • A competitor may only be active in one group at a time. Competing on serveral groups at the same time will be subject of disqualification.
  • A competitor will be eligible for the prizes, after participating in at least two (2) groups during the whole competition.
  • The participant who obtains the highest profit among all groups in the competition, will opt for the first prize. The winner will be announced after the competition ends on December 16, 2016. The competition’s deadline and each group’s operation period may change.
  • Similarly, the participant who obtains the second (2nd) highest profit among all groups will receive the Second Prize.
  • Once all groups have finished, a global standings table will list the profits earned by each participant on every group (a participant would appear several times in the standings table).
  • A competitor cannot opt for more than one prize. If a competitor obtained the first and second highest profits of the whole competition, she/he will only be considered for the first prize.
  • A participant cannot opt for more than one prize. If the participant obtained the first and second highest profits of the whole competition, she/he would only be considered for the first prize. As a result, the second place prize will be granted to the next participant in the standings table, as long as he/she complies with the contest's rules.
  • The Prizes are:

First Prize (Samsung Gear S2 Smartwatch): awarded to the competitor who obtains the highest profit, once all groups have finished. At the end of the group’s stage, which will last approximately 15 weeks, each competitor’s results will be listed in a global standings table to determine the First Place.

Tie scenario: in specific case where two (2) users finished the competition with exactly the same balance (same profit), the prize will be given to the user with the highest number of positive trades. If the tie scenario remains, the prize will go to the user with the least drawdown.

Second Prize (Samsung Gear S2 Smartwatch): awarded to the competitor who obtained the Second Place in the global standings table, after sorting profits from highest to lowest. In case there is a tie, the previously stipulated rule (tie scenario) will be applied. 

  • The prizes will be delivered through a logistics service/company. The winner must provide all the necessary information to accomplish the process; this includes full name, valid address, phone numbers, etc. If the winner does not supply the necessary information to deliver the prize during a 15 days term, after the official winner is announced, GMT Prime will deliver the award to the next participant in line for the same prize category, type or modality.
  • In the case an unavoidable limitation impedes GMT Prime from making the award’s physical delivery through a shipping company, it will be considered as unclaimed by the winner.  
  • The status and functionality of the prize is guaranteed up to the consignment stage or delivery to a courier company. Subsequently, any damage or deterioration of the prize is not the responsibility of GMT Prime.
  • GMT Prime is not responsible for any errors or omissions commited by the winner when supplying the shipping information.
  • GMT Prime reserves the right to modify the awarding modalities, given a previous notification via website, social media and email.
  • Participants of “The Runners FX”  will be invited to the new “Guru Mining” competition, where GMT Prime reserves the right to refuse admission. For Group 1, the duration of the competition will be between three (3) and six (6), as established by GMT Prime. 
  • The registration process will be reopened for other groups. Only users that have not been registered in previous groups may register.
  • GMT Prime will notify through its website on the duration of the active registration and culmination of each active group.
  • The period of participation might be subject to change, upon any reason that affects the operations of the company.
  • Users that have participated in at least one (1) group will not be able to register again. They will receive a direct a direct invitation from GMT Prime to participate in new groups.

*In case of not following this terms and conditions or the Terms and Conditions for FOREX Competitions  General Terms and Conditions for FOREX Contests, GMT Prime will reserve the right to suspend the winner’s award delivery.

2.- Enrollment

  • In order to participate in the competition, you must agree with the General Terms and Conditions for FOREX Contests General Terms and Conditions for FOREX Contests. You may not register on the competition nor receive any prize, unless you agree with these rules.
  • To participate, the individual must provide a user name, First name, Last name and valid contact information (which may be verified by GMT Prime, if necessary, for the award) through the form available on the Website of GMT Prime: http://www.gmtprime.com/landing-page-guruminig  GROUP 1 users will receive an invitation, so they are not required to complete this step.
  • In order to compete, the participant must  provide an user name, first name, last name (all the information may be verifiable by GMT prime).
  • The user name should be unique; it may not be chosen by another trader. The user name should not have any reference related to GMT Prime. Word such as "GMT Prime trader", "GMT Prime Steroids”, "Guru Mining" are not allowed.
  • GMT PRIME may reject any registration with inconsistent information or disqualify any participant that provides false personal information. 
  • The individual who performs the registration should be the same who uses the trading account during the competition and the only one who can receive the prize. Neither the accounts nor the award are transferable to another individual.
  • It is not allowed to register in the contest with more than one account. If GMT Prime detects that any competitor is trading with more than one account, he/she will be disqualified.
  • In order to compete, the participant accepts that either the information provided during the registration process or the participant's trading records may be used and published by GMT Prime.
  • GROUP 1 of the competition was consist of users who have participated in previous GMT Prime competitions. GMT Prime reserves the right to refuse admission and invitation for these users. 
  • GROUP 2 registration was opened from October 20, 2016 at 18:00 (GMT), until November 04, 2016 at 16:30 (GMT). 
  • GROUP 3 registration will be open from November 14, 2016 at 18:00 (GMT), until November 25, 2016 at 16:30 (GMT).
  • GROUP 4 of the competition will be composed of users who have participated in previous group 1 y 2. GMT Prime reserves the right to refuse admission and invitation for these users. 
  • GROUP 5 of the competition will be composed of users who have participated in previous group 1 y 3. GMT Prime reserves the right to refuse admission and invitation for these users. 
  • As stated in the  General Terms and Conditions for FOREX Contests, , residents and citizens of the United States are not allowed to participate in the contest. If there is a situation where a participant has registered with false information and he/she wins the contest, the prize will be given to the next competitor on the contest's standings.
  • As stated in the  General Terms and Conditions for FOREX Contests,GMT Prime's employees cannot participate in the contest.
  • Failure to comply with any of the previous rules, or any other element or action that GMT Prime considers is against the rules of the competition or the General Terms and Conditions for FOREX Contests, may result in the participant's disqualification.

3.- Setup and Operation of the accounts

  • Each participant of the competition will receive an activation link, that when clicked, will generate a GMT Prime Demo account in a lapse of 24 hours. He/she may access this account through the MetaTrader 4 (mobile/desktop) platform.
  • The initial balance will be $100, a leverage of 1:66, a Margin Call of 120% and a Stop out Level of 100%. The maximum lot size per trade is 10 (ten).
  • GROUP 1 participants started trading on October 5, 2016 at 18:00 (GMT) and ended on November 04, 2016 at 16:30 (GMT).

  • GROUP 2 participants started trading on October 24, 2016 at 18:00 (GMT) and ended on November 18, 2016 at 16:30 (GMT).

  • GROUP 3 participants started trading on November 07, 2016 at 18:00 (GMT) and ended on November 25, 2016 at 16:30 (GMT).

  • GROUP 4 participants started trading on November 21, 2016 at 18:00 (GMT) and ended on December 16, 2016 at 16:30 (GMT).

  • GROUP 5 participants started trading on November 28, 2016 at 18:00 (GMT) and will end the competition on December 23,2016 at 18:00 (GMT).

  • Participants will be allowed to trade 11 currency pairs/precious metals chosen by GMT Prime.
  • Once a group has finished, all trades will be closed, the accounts will expire and opening/closing/modifying orders will be disabled.
  • The participants can open a MAXIMUM of 5 (five) trades per week. Failure to comply with the weekly trading limit, may disable the participant to win the contest's prize.
  • The end of each group will be anounced one week in advance.
  • There is no maximum duration for open trades. However, only closed trades will be considered to determine the result of the contest.
  • After the group is closed, if there are still open positions, these may not be valid to determine the final result at the end of the competition. 
  • Participants can trade manually or using any script or Expert Advisor if, and only if, it works within the MetaTrader 4 platform.
  • Failure to follow any of these rules or any activity that attempts to break the General Terms and Conditions for FOREX Contests may result in the participant's disqualification.

4.- Standings

The contest standings list the participants according to the profit they have made on the contest.

The profit is calculated by the following formula:  PROFIT = (Balance - InitialBalance)/ InitialBalance 

5.- Important Considerations

  • Participants must agree with the General Terms and Conditions for FOREX Contests.
  • Each participant may have only one username.
  • Once the contest has finished, only participants whose balance is higher than the contest's initial balance may opt for the prize.
  • The contest standings will be available only through the GMT Prime's website at the following address: http://competitions.gmtprime.com/
  • As stated in the General Terms and Conditions for FOREX ContestsGMT Prime reserves the right to use personal information and trading history of the participants for future company advertising, contests, marketing, events, research, publications, and any other type of operation it deems appropriate.
  • As stated in the the General Terms and Conditions for FOREX ContestsGMT Prime will not incur any liability in circumstances where the competition should be modified, shortened or canceled for any reason without notice. GMT Prime reserves the unilateral and exclusive right to eliminate this competition, disqualify any participant, change the rules, change the prizes or increase the time for requesting a prize withdrawal.
  • Participants are responsible for their own conduct and release GMT Prime of any responsibility or liability for loss or damage related with this GMT Prime trading competition.

6.- Requests and Claims

Any requests, complaints or comments regarding the contests should be sent via email to: contact@gmtprime.com