GIC Borderless Live Trading Competition

GIC is hosting a live Forex trading contest titled "Borderless Live Trading Competition" and invites all Forex traders, with no trading location restrictions, to participate. With a total prize pool of IDR 62,000,000 for 10 winners, you only need to follow these 3 steps: achieve the highest possible ROI, which will be evaluated at the end of the competition, to win the prize.

Terms & Conditions

1. Trading Competition Terms

  • "Account" refers to the trading account opened by the client at GICTRADE for this competition.
  • “Contest Period” The contest period is from February 1, 2021, at 06:00 WIB to February 27, 2021, Closing Statement.
  • "Broker Contestant" refers to contestants who are free to trade with any broker / Borderless.
  • "Minimum Deposit" means the contestant's trading account must have a minimum equity of $500.
  • "Floating" refers to contestants who already have an account at GIC and meet the minimum deposit requirement. Any floating balance before the contest start date, February 1, will not be included in the "ROI" value for the competition. The "ROI" will only be calculated based on the positions entered starting from February 1, 2021, in live trading for the competition.
  • "Rules Agreement" refers to the agreement between the client and GIC - SOCIAL TRADE, which serves as the governing rules for all trading activities in this competition. This agreement includes the Client's Consent, Business Policies, and Terms and Conditions, which are also outlined in the Account Opening Agreement section on the GICTRADE website and may change from time to time.
  • "Prize" refers to the prizes listed in Table 1 below.
  • "ROI Calculation Formula" refers to the formula for calculating ROI as outlined in point 3.7 below.
  • "Registration Period for Each Round" refers to the period during which each client can register in the member area and participate in any round of the competition as long as that round has not yet ended.
  • "Website" refers to the site www.gicindonesia.com.

2. Requirements for Trading Competition Contestants

  • 2.1 Contestants from any broker are free to participate in this competition.
  • 2.2 Contestants eligible to participate in this competition must comply with global trading regulations and have a verified account on Myfxbook.
  • 2.3 Contestants are required to provide information about their trading accounts, such as the Trading Server, Account Number, and Investor Password.
  • 2.4 The contestant's name in the competition must match the name on the account provided.
  • 2.5 Every contestant automatically agrees to be registered as a Master in GIC - SOCIAL TRADE, and all of their trading transactions will be displayed on the website.
  • 2.6 A Master in GIC - SOCIAL TRADE is a client whose transactions on their trading account will be displayed on the website and can be copied by followers from any broker.
  • 2.7 Every contestant from a legal broker automatically becomes a Master and has the right to set a monthly subscription fee if there are followers on GIC - SOCIAL TRADE copying their transactions. The subscription fee will be split 70/30, with 30% going to GIC - SOCIAL TRADE if the contestant’s account is not a GICTrade account. If the contestant's account is a GICTrade account, the split will be 80/20.
  • 2.8 Each contestant’s account will be registered and linked to Myfxbook, and the ROI calculation will be based on the history in Myfxbook.
  • 2.9 The Investor Password must not be changed during the competition.
  • 2.10 This competition is only applicable for Standard, Mini, and Micro Account lot sizes.
  • 2.11 Accounts eligible to participate in this competition are Live Accounts with a minimum equity of $500 or 500 GICT.

3. Special Contest Terms

  • 3.1 This contest allows all CFD Forex, commodities, precious metals, and index trading. Any product traded by the broker used by the contestant is allowed.
  • 3.2 This contest only permits the use of MT4 and MT5 Standard accounts.
  • 3.3 Contestants are allowed to use only 1 account.
  • 3.4 Withdrawals can be made during the contest period and must follow the rules stated in the "Agreement of Rules".
  • 3.5 Transfers between accounts cannot be considered as a minimum deposit for this contest.
  • 3.6 Contestants begin trading when the contest starts, and the ROI calculation will be based on the formula provided in point 3.7: "ROI Calculation Formula".
  • 3.7 ROI Calculation Formula(%) = [((Ending Equity + Withdrawals) – (Starting Equity + Top-up)) / (Starting Equity + Top-up)] * 100%
    • Example:
      • Deposit 1000. Trade and profit 500. Total 1500. WD 500: ROI % = [((1000 + 500) – 1000) / 1000] * 100% ROI % = 50%
    • Terms of ROI Calculation:
      • “Initial Equity” – Refers to the initial deposit in your account when the competition starts and meets the minimum deposit requirement to participate in the contest. If there are any floating positions, all floating positions will be counted as 0.
      • “Ending Equity” – Refers to the equity in your account at the time of the ROI calculation.
      • “Topup” - Refers to the additional deposit made into your trading account equity.
      • “ROI” – Refers to the net profit (if any) in the contestant's contest account.
      • “ROI%” – Refers to the percentage of profit (if any) displayed in the ROI Summary on the GIC - SOCIAL TRADE page.
  • 3.8 The winner of the contest is the contestant who, based on the ROI Calculation Formula, has the highest ROI ratio (in percentage) among all contestants at the Closing Statement on February 27, 2021.
  • 3.9 Here, you are a customer who meets the requirements to trade and agrees to the rules of play at GICTRADE.
  • 3.10 The customer is registered with GICTrade but is free to choose any broker that meets the minimum deposit requirements and/or other conditions.
  • 3.11 You have registered for this contest from the GIC - SOCIAL TRADE member area and have agreed to the terms and conditions that apply during the registration period.
  • 3.12 You have made the minimum deposit during the registration period. If the equity in the contestant's account is less than or equal to 500 GICT ($), then the equity amount based on the formula for calculating the Initial Equity will be less than or equal to 500 GICT ($). If the balance in the contestant's account is less than or equal to 0 GICT, then the balance used in the formula for calculating the Initial Equity will be less than or equal to 0 GICT ($). During the contest period, GIC - SOCIAL TRADE will display the %ROI and refresh it once a day on the Social Trade page. The calculation and verification will be completed within a maximum of 14 working days after the closing of the Competition Round.

4. Prizes for the Trading Competition Winners

  • 4.1 Prizes
    • Winner I 2.128 GICT Coin / ±30.000.000 IDR
    • Winner II 1.064 GICT Coin / ±15.000.000 IDR
    • Winner III 710 GICT Coin / ±10.000.000 IDR
    • Winner IV-X 71 GICT Coin / ±1.000.000 IDR
  • 4.2 All prize rewards are in the form of GICT Coins and will be deposited into the customer's wallet portal.
  • 4.3 If two or more contestants have the same ROI percentage (up to two decimal places), the contestant with the smallest drawdown percentage will be ranked higher. If there is still a tie between two or more contestants, the prize will be divided equally among them. Within 14 working days after the contest ends, the selected winners will receive an email (referred to as the "winner notification") at the email address provided during registration. Prizes will be awarded to clients whose status is verified as meeting the terms and conditions outlined in the Terms of Agreement. If the client fails to provide the required data to GIC - SOCIAL TRADE within 5 working days from the winner notification, the prize will be canceled. The list of winners will be announced on the website.

5. Other

  • 5.1 GIC - SOCIAL TRADE has the right to disqualify a contest contestant if:
    • 5.1.1 There is a violation of the terms and conditions outlined in the Agreement on the Rules of the Contest.
    • 5.1.2 GIC - SOCIAL TRADE finds a solid basis or evidence to believe that there is misuse of the contest aspects.
    • 5.1.3 GIC - SOCIAL TRADE finds a solid basis or evidence that two or more contestants are engaging in hedging actions between accounts of the same contestants. This includes:
      • 5.1.3a Trading in opposite directions using the same instrument, with the same or different IP addresses, using different accounts.
      • 5.1.3b Gaining profits using one account and causing losses with another account.
      • 5.1.3c Any activities related to trading in opposite directions between contestant accounts.
    • 5.1.4 There are contestants who demonstrate bad faith and/or rude behavior, and/or cheating, and/or any conduct that is not in line with the ethical standards of the competition.
  • 5.2 Each contestant has agreed that GIC - SOCIAL TRADE has the right to announce the names of the contest participants and their participation details in the contest.
    • 5.2.1 This can be done through print or electronic media, using the contestant's photo for GIC - SOCIAL TRADE's publicity purposes.
    • 5.2.2 Free from claims by property owners regarding copyright or intellectual property rights in the use of photos for contest publicity purposes.
    • 5.2.3 Conducting interviews with contestants and using the interview material for contest publicity purposes. The decision regarding the use of the aforementioned rights will be made by GICTRADE at its own discretion.
  • 5.3 In the event of any misunderstanding regarding the terms and conditions above, GIC - SOCIAL TRADE will resolve the dispute in good faith, at its own discretion, and in accordance with ethical standards. The decision of GIC - SOCIAL TRADE is final and binding.
  • 5.4 GIC - SOCIAL TRADE has the right, at its sole discretion, to modify, amend, postpone, cancel, or terminate this contest at any time with prior notification to the contestants. Under no circumstances shall GIC - SOCIAL TRADE be held liable for any consequences arising from any changes, amendments, postponements, cancellations, or terminations of the contest.
  • 5.5 If this document is translated into another language, the words in Indonesian will be the binding version in the event of any discrepancies in meaning between the two languages.
  • 5.6 The prize will be awarded to the competition winner in GICT Coin within 30 working days, and the tax on the prize will be the responsibility of the winner.
  • 5.7 Every contestant participating in the GIC Live Trading Competition automatically agrees to all the rules and policies of GIC - SOCIAL TRADE.