The Foreign Exchange (FX) Challenge is an in-app virtual Currency Trading competition ( "FX Challenge" or the "competition") hosted on the TradeHero mobile application. Subject to the applicable laws and regulations, the competition is open to participants in Singapore and prizes will be awarded in accordance with the terms and conditions set out below ("Terms and Conditions")
The FX Challenge is jointly sponsored by OANDA Asia Pacific Pte Ltd ("OANDA") and My Manisku Pte Ltd ("TradeHero").
TradeHero independently administers the FX Challenge based on terms and conditions agreed between TradeHero and OANDA and any form of communication or enquiries in respect of the competition shall be directed to TradeHero, and not OANDA.
The participation period for FX Challenge will begin on 4 May 2015 at 08:00hrs (Singapore Time) and will continue for 3 months (12 weeks), ending on 26 July 2015 at 17:59hrs (Singapore Time) (the "Participation Period").
During the Participation Period, there will be a series of monthly competitions, Trade Quests, and such other competitions/quests as may be jointly determined by TradeHero and OANDA.
a. All existing TradeHero accounts and new TradeHero accounts that are opened during the Participation Period will automatically be eligible to participate in the competition, provided that all other conditions of participation in accordance with these Terms and Conditions are met
b. Participants must be over 18 years of age at the time of registration to be eligible to participate in the FX Challenge.
c. Participants can register for the FX Challenge through the TradeHero mobile application. Participants must use their own personal particulars to register for the competition. Participants cannot participate in the competition using another person’s particulars or TradeHero account.
d. Participants must register using their names as stated in their national identification card or passport for verification purposes. TradeHero and OANDA each reserve the right to request, at its sole discretion, from any participant for a valid form of identification and/or proof of residence. Failure to provide such identification or proof will result in disqualification from the competition and/or forfeit of prize(s) in the event that such participant is declared a winner of any prize(s) in the competition.
e. All officers, employees, interns, contractors and representatives, and their respective immediate family members, of each of TradeHero and OANDA, their respective affiliates, and any other persons professionally connected with the FX Challenge are not eligible to participate in the competition.
f. Participants may only enter the competition using only the latest version of the TradeHero mobile application. It is each participant’s obligation and responsibility to check to ensure that he downloads the latest version of the TradeHero mobile application for his device, and update to the latest version of the TradeHero mobile application when it is released. TradeHero shall not be liable if any participant enters the competition using an outdated version of the TradeHero mobile application. TradeHero reserves the right to disqualify any participant from the competition and/or take any action it deems necessary should any participant enter the competition not using the latest version of the TradeHero mobile application.
g. Each participant who participates in the competition shall be deemed to acknowledge and agree to, and be legally bound by, the Terms and Conditions contained herein.
The FX Challenge offers multiple prizes in the form of cash to be deposited in an OANDA Trading account that are to be distributed based on participants’ portfolio performance and prizes (up to US$500 in value) for winners of a series of Trade Quests
The top 10 participants each month based on portfolio ROI will receive cash prizes deposited in an OANDA FX account as follows:
| Rank | Prize Money |
|---|---|
| 1st | US$2,500 |
| 2nd | US$1,000 |
| 33rd | US$500 |
| 4th - 5>th | US$250 |
| 6th - 10th | US$100 |
Computation of the Monthly winners will be done after completion of the month, with winners receiving notifications on how to collect their prizes within the following two weeks. Indicative results of the leading participants will be shown within the TradeHero app leaderboard everyday.
It’s the participants’ responsibility to remain contactable via the email registered with TradeHero.
For detailed terms and conditions on the opening of such OANDA Trading account, please refer to the terms and conditions of by OANDA at http://www.oanda.com/site/terms-of-use.
In addition to the cash prizes stated above, three prizes of up to US$500 in value will be awarded, each to a winner of a monthly Trade Quest from a random draw of eligible winners. Computation of the Trade Quest winners will be done monthly, with winners receiving notifications on how to collect their prizes within the following two weeks.
Participants are eligible to win one prize per competition/Trade Quest. In the event of a participant being eligible for a prize, only one account will be considered for the purposes of prize determination.
TradeHero and OANDA will in their sole discretion judge and determine who the winning participants will be.
The monthly competitions will be judged on the monthly percentage gain of a participant's competition portfolio and will be calculated using the TradeHero "Portfolio-Level P&L" ranking algorithm as follows:
ROI = (total P&L over marked period / total portfolio value at beginning of marked period) x 100
Where “total P&L over marked period” includes realised and unrealised profit and loss during the relevant period and “total invested” means the total amount a participant invested in currency pairs provided by OANDA during the relevant period.
ROI = (total P&L for the entire period / starting cash) x 100
ROI will be calculated at 0000Hrs on the last trading day of the relevant monthly period for determining the monthly prizes.
a. Only trades that took place during the Participation Period will be taken into consideration.
b. Each participant will start the competition with an initial credit of US$100,000 virtual trading cash. Additional virtual dollars will not be allocated to the FX Challenge competition portfolio. Use of additional virtual trading cash will not offer a participant any additional advantage within the competition as all participants will be ranked, and the determination of winners is based on their percentage returns using the TradeHero ranking algorithm.
c. A minimum number of 3 unique FX trades are required to be made in each relevant period of the Participation Period.
d. FX prices will be marked and reflected using the Mark-to-Market methodology, based on OANDA’s pricing data feeds
e. Participants may trade at any time of the day
f. If any market disruption hinders the marking of prices, TradeHero reserves the right to mark those prices at the next available point.
g. Only trades placed within competition period will be accepted in the competition. No queuing of orders will be done for execution on the next day.
h. Only FX and commodity pairs trading on the OANDA FX Challenge will be eligible for inclusion in the competition. The list of tradable FX and commodity pairs is provided in section 15 below.
i. Competition board leaders will have their trades reviewed by TradeHero in order to ensure that there is no breach of the terms and conditions of the Competition.
j. All existing constraints on trading within the TradeHero mobile application remain in force.
k. In the event that two or more FX Challenge participants close with the same ranking, the participant with the highest number of profitable closed trades will be considered the winner amongst the participants.
l. Participants are limited to one monthly prize and one quest prize per person.
m. Each user is allowed to own and operate only one competition account and portfolio.
n. In the event that two or more OANDA FX competition participants close with the same ranking, the participant with the highest number of profitable closed trades will be considered the winner amongst the participants.
By registering and participating in the FX Challenge, each participant hereby authorise and give his consent pursuant to the provisions of the Personal Data Protection Act 2012 (No. 26 of 2012) to:
(a) Each of TradeHero, OANDA and any other partners sponsoring FX Challenge to collect, retain, access and use all information and data he has provided in connection with or for the purposes of FX Challenge and direct marketing of OANDA's ,TradeHero's and such other sponsoring partners' product and services to the participant and for such other purposes in connection with their respective businesses;
(b) His enrollment by OANDA as email subscriber; and
(c) OANDA accessing and collating his trading activity data on TradeHero for analytical purposes.
If a participant is a winner, such participant agrees that any of TradeHero and/or may use his name, other information and/or photographs in connection with or for the purposes of the competition, including to administer and promote the FX Challenge and future competitions.
Throughout the Participation Period of the FX Challenge, the rankings and results of participants may be published by TradeHero, OANDA and/or any affiliated partners. In cases where participants do not want their details published by TradeHero, OANDA and/or any affiliated partners, a written request should be sent to [email protected] in order for such information to be removed. However, in such cases, the participant shall cease to be eligible to participate in FX Challenge.
By entering the FX Challenge, eligible participants agree to comply and be bound by these Terms and Conditions. Failure to comply with these Terms and Conditions may result in disqualification from FX Challenge. Eligible participants further agree to comply and be bound by the decisions of the FX Challenge judges, which are final and binding in all respects and shall not be subject to any appeal. TradeHero reserves the right in its sole discretion to disqualify any participant if it finds such participant is (a) tampering or attempting to tamper with the entry process or the operation of the competition; (b) violating any of the Terms and Conditions of FX Challenge or any of the general terms and conditions of the TradeHero mobile application; or (c) acting in way that disrupts, or with intent to abuse, threaten or harass any other person. Any false information provided pursuant to FX Challenge by any participant concerning identity, postal address, or any other non-compliance with the Terms and Conditions may result in the immediate disqualification and elimination of a participant from the FX Challenge.
Each FX Challenge participant agrees not to act in any manner that might (i) infringe any third-party proprietary, intellectual property, personal rights or other rights, including without limitation, copyright, trademark, patent, trade secret or confidentiality obligation; and (ii) otherwise violate any applicable law or regulation in any country in the world.
In cases of any indiscretion or misuse in trading, such trades will not be taken into consideration and may be removed from the participant's account. Each of OANDA and TradeHero reserves the right to disqualify any participant found in violation of the rules of the FX Challenge or applying any inappropriate trading strategy.
Any participant who is found or suspected to have attempted to have manipulated the market or price of actual listed currency pairs will be disqualified from the competition and referred to the relevant authorities.
Each of OANDA and TradeHero reserves the right to disqualify any participant found to have opened and operated multiple FX Challenge competition portfolios.
Prices shown in the FX Challenge are of indicative nature and subject to change. You should not use such prices when making any actual investment decisions.
No part of FX Challenge (including any content, information, data or material) (collectively, “Information”) should be considered as offer, solicitation, advertisement, inducement or representation to buy or sell, nor financial or investment advice or recommendation in relation to any investment product or services. The Information does not take into account the investment objectives, financial situation and particular needs of any person.
Currencies (FX) are volatile instruments and may be subject to considerable fluctuations in value and investment risks, including possible loss of the principal amount invested. Past performance is not indicative of future performance. Therefore FX run the risk of expiring worthless resulting in a total loss of investment.
All persons are advised to consult, to the extent necessary, his own independent, competent, legal financial and other professional investor, when deciding whether to make any actual investment in the FX to ensure any decision he makes is suitable for him with regard to his circumstances and financial position.
None of TradeHero or OANDA shall be held responsible for any delay in the acceptance and/or transmission of trades due to the breakdown or failure of transmission and communication facilities, or failure of the trading simulation system, or for any other cause beyond their reasonable control and anticipation.
None of TradeHero or OANDA guarantee, represent or warrant that the TradeHero mobile application is free of malicious software, including, but not limited to, viruses, computer worms, Trojan horses, spyware or other harmful components ("Malicious Software").
None of TradeHero or OANDA accept liability for any loss, damage, claim liability, expense or costs that may result from any transmission of such Malicious Software via the TradeHero mobile application
TradeHero and OANDA, in their sole discretion, reserve the right to extend or postpone the trading period, change any prevailing marking times, prices, or methodologies, cancel or make changes to any participant's trades and portfolio, cancel the FX Challenge and reject any participant's application if it is determined at their sole discretion that such action is reasonable or necessary.
The FX Challenge is governed by the laws of Singapore. By participating in the FX Challenge each participant agrees to be bound by these Terms and Conditions and by TradeHero's and OANDA's decisions, which are final and binding and not subject to any appeal.
Any potential winner who cannot be contacted within 15 days from the first day an attempt was made to contact such potential winner will have his prize forfeited and each of TradeHero and OANDA reserves the right to deal with any such forfeited prize in any manner they deem fit.
All winners are solely responsible for any taxes (including personal income tax) and duties levied in connection with each prize, and all fees, costs, expenses (including travel and related expenses) and arrangements incurred by a winner in claiming and/or utilizing a prize shall be the sole responsibility of and shall be borne by such winner.
To the maximum extent permitted by the law, the rights to litigate, seek injunctive relief or any other recourse to judicial or any other procedure in case of disputes or claims resulting from or in connection with FX Challenge are herby excluded, and you expressly waive any and all such rights.
If any provisions in these Terms and Conditions are held to be invalid or unenforceable, in whole or in part, under any enactment or rule of law in any jurisdiction, then: (a) such provision or part shall to that extent be deemed not to form part of these Terms and Conditions; (b) the legality, validity and enforceability of the remainder of these Terms and Conditions under such jurisdiction shall not be affected; and (c) the legality, validity or enforceability of these Terms and Conditions under any other jurisdiction shall not be affected
NOTWITHSTANDING ANY OTHER PROVISION HEREIN, TO THE MAXIMUM EXTENT PERMITTED BY LAW, EACH OF TRADEHERO AND OANDA SHALL HAVE NO RESPONSIBILITY OR LIABILITY (WHETHER ARISING IN CONTRACT, TORT, NEGLIGENCE OR OTHERWISE) FOR ANY CLAIMS, DEMANDS, LOSSES, LIABILITIES, DAMAGES, COSTS, CHARGES OR EXPENSES WHICH ARE NOT REASONABLY FORESEEABLE OR WHICH ARE INDIRECT, CONSEQUENTIAL, SPECIAL, PUNITIVE, EXEMPLARY OR INCIDENTAL; OR FOR ANY LOSS OF REVENUE OR PROFIT (INCLUDING ANTICIPATED PROFITS), LOSS OF USE OR ANTICIPATED SAVINGS, LOSS OF GOODWILL, LOSS OF OPPORTUNITY, LOSS OF REPUTATION OR BUSINESS, OR ANY OTHER FORM OF PURE ECONOMIC LOSS, HOWSOEVER ARISING FROM OR IN CONNECTION WITH OR IN RELATION TO FX CHALLENGE, OR WHICH MAY ARISE FROM ANY DISTRIBUTION/PROVISION TO, RELIANCE, ACCESS AND/OR USE BY ANY PERSON OR ENTITY (WHETHER FORESEEABLE OR NOT) OF ANY INFORMATION CONTAINED IN the FX CHALLENGE AND/OR THE TRADEHERO APPLICATION, ANY ERRORS OR INACCURACIES CONTAINED HEREIN AND/OR OMISSION HEREFROM.
TO THE MAXIMUM EXTENT PERMITTED BY LAW, EACH PARTICIPANT AGREES TO FULLY INDEMNIFY, HOLD HARMLESS AND AT ALL TIMES KEEP INDEMNIFIED EACH OF TRADEHERO, OANDA, THEIR RESPECTIVE AFFILIATES AND THEIR RESPECTIVE EMPLOYEES, OFFICERS, AGENTS AND REPRESENTATIVES (COLLECTIVELY, "RELEASED PARTIES") FROM AND AGAINST ANY LOSS, DAMAGE, LIABILITY, CLAIMS, DEMANDS, COSTS AND EXPENSES (INCLUDING LEGAL FEES, COSTS AND EXPENSES WHICH MAY BE INCURRED):
(A) SUFFERRED OR INCURRED BY ANY OF THE RELEASED PARTIES RESULTING FROM ANY ACT, DEFAULT OR OMISSION BY THE PARTICIPANT AND/OR A BREACH OF ANY OF THESE TERMS AND CONDITIONS BY THE PARTICIPANT;
(B) FOR OR IN RESPECT OF WHICH ANY OF THE RELEASED PARTIES WILL OR MAY BECOME LIABLE BY REASON OF OR RELATED OR INCIDENTAL TO ANY ACT, DEFAULT OR OMISSION BY THE PARTICIPANT UNDER THESE TERMS AND CONDITIONS INCLUDING WITHOUT LIMITATION RESULTING FROM OR IN RELATION TO ANY BREACH, NON-OBSERVANCE, ACT OR OMISSION WHETHER NEGLIGENT OR OTHERWISE.
TO THE MAXIMUM EXTENT PERMITTED BY LAW, EACH PARTICIPANT AGREES TO HOLD THE RELEASED PARTIES HARMLESS FOR ANY INJURY OR DAMAGE CAUSED OR CLAIMED TO BE CAUSED BY PARTICIPATION IN FX CHALLENGE AND/OR USE OR ACCEPTANCE OF ANY PRIZE WON.
Each of TradeHero and OANDA reserves the right to amend or waive any rule, term or condition during or after the competition.
Apple is not a sponsor nor is involved in any way.
In the case where these Terms and Conditions are translated into a language other than English, the English version shall prevail.
| Number | Currency Pair |
|---|---|
| 1 | USD/CAD |
| 2 | EUR/USD |
| 3 | USD/CHF |
| 4 | GBP/USD |
| 5 | NZD/USD |
| 6 | AUD/USD |
| 7 | USD/JPY |
| 8 | EUR/JPY |
| 9 | GBP/JPY |
| 10 | AUD/JPY |
| 11 | XAU/USD |
| 12 | XAG/USD |