Guide on Wmax Cup Prizes and Bonuses
During the competition each participant should perform the minimum number of trades of the required volume (traditionally: 5 trades of 5 lots’ total volume for the weekly contest and 20 trades of 20 lots’ total volume for the monthly contest).
After the competition each participant should make at least one post in the corresponding thread of Wmax Forum (otherwise prizes and bonuses will be abolished).
- The winner of any Wmax Cup competition gets a real money prize There can be several prize places in a competition;
- The prize for the 1st place will be transferred to the winner’s Wmax eWallet, as a rule, within 48 hours of the end of the contest.
- The main prize below $1000.00 and all the other prizes are withdrawable via any available payment system in Wmax Cup personal area.
- The main prize above $1000.00 can be used ONLY for opening PAMM account. This amount can be withdrawn by the PAMM Manager after 3 months of trading and after making at least 60 trades in the PAMM ECN account or after making 120 trades in PAMM STP.
- If a trader gets the main prize in the Forex Championship, the money can be used only for opening PAMM ECN/ PAMM STP account, the prize withdrawal is not permitted! The gained profit can be withdrawn at any moment of time.
Profit bonuses are transferred to a trader’s trading account indicated in the User Profile;The amount of bonuses paid to a single trader cannot exceed the specific limit defined in the rules of a particular competition.
Profit bonuses can be withdrawn via any available payment system. Profit bonuses can be withdrawn after completing certain requirements that are specified in the competition rules (for example, not earlier than in ХХ calendar days, after ХХ trades of ХХ minutes each)
The total amount of all bonuses in a competition cannot exceed its budget. If the competition budget is exceeded we will reduce the bonuses based on the difference between the actual sum of all bonuses and the budget.
Hedging is a prohibited trading strategy for fulfillment of bonus withdrawal conditions, it means that trades performed by means of hedging will not be counted in the number of trades, obligatory to fulfill the conditions for bonus withdrawal. Bonus calculation formula:
The bonus payable to a real trading account is equal to one percent (1%) of the profit gained. For example, if a trader earns $5000, a $50 bonus will be deposited to his/her account.
However, there are 2 bonus limitations:The amount of bonus for one trader cannot exceed $250 (so, if you earn more than 500% profit your maximum bonus will still remain $250).
The total amount of all bonuses in a particular competition cannot exceed the declared bonus budget (usually $1200). If the declared bonus budget is exceeded the bonuses will be reduced based on the difference between the actual sum of all bonuses and the declared bonus budget.
For example, if the sum of all actual bonuses in a particular competition (actual bonus budget) amounts to $ 1500 and the total sum of the declared bonuses (declared bonus budget) is exceeded, the sum of the bonuses payable to the traders will be reduced by $300 ($1500 – $1200 = $300).
So, the FORMULA for bonus calculation is as follows:Bonus = (1% of your profit) * (Declared bonus budget / Actual bonus budget)
- If a trader receives more than $1000.00 in prizes and bonuses, he/she will be able to participate only in competitions with entry fee. To be able to join free competitions again he/she needs to deposit at least $500.00 to the trading account For deposit you are free to use any available payment system or external transfer.
- If the trader withdraws this deposit ($500.00) within less than 30 days of the deposit date, joining competitions free-of-charge will be prohibited for this trade
- wmax Cup Administration has the right to void a prize or a bonus if the trader does not follow the rules of withdrawing prizes and bonuses. For example, a prize can be voided if the trader does not follow the rule of making a certain number of forum posts before withdrawing.