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FOLLOWME Season 10 Trading Contest Rules

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FOLLOWME Season 10 Trading Contest Rules

FOLLOWME Contest (the "Contest") is a trading event for global trading users and it is held two seasons a year. FOLLOWME hopes to hold a stage for users to share their trading capacity and find outstanding traders.

In the Contest, traders can use their own different trading techniques and strategies. The results and performance of each trader can be displayed through a multi-dimensional scoring system. According to the rules, traders can register for the Contest at any time during the registration.

Over the past 9 seasons, we have a total of 23,086 trading accounts that have joined the Contest with total account equity of $145,520,329. We have awarded $151,291 to 81 winners.

 

1. Contest Organizer

FOLLOWME Contest

Contact: @FOLLOWME Contest

 

2. Technical Support

FOLLOWME Trading Community

 

3. Contest Period

3.1 Registration Period (UTC+2)

March 21, 2022 00:00:00-June 1, 2022 00:00:00

 

3.2 Contest Period (UTC+2)

April 1, 2022 00:00:00-July 1, 2022 00:00:00

 

3.2.1 Calculation Period of Monthly Champion rankings(UTC+2)

The first month: 00:00:00 on April 1, 2022-23:59:59 on April 30, 2022

The second month: 00:00:00 on May 1, 2022-23:59:59 May 31, 2022

 

3.3 The Contest base time is UTC+2.

 

4. Participant

FOLLOWME support more than 4,000 brokers' MT4 Live accounts to register for the Contest.

 

5. Contest Website

https://www.followme.com/conte...

 

6. Contest Grouping

6.1 Grouping Criteria

Elite Group: The equity of the account in this group should be greater than $0.

Random Group: If a participating account in the elite group triggers margin closeout or has the copy trading orders, it will be moved into the random group.

* Only the Live trading accounts under the brokers on Signal List for Licensed Brokers can participate in the Contest.

* Broker Group: All participating accounts will be grouped according to their respective brokers.

 

6.2 Grouping Rules

6.2.1 The accounts that register before the Contest starts will be grouped on a basis of the equity that the account is holding at 00:00 on April 1, 2022 (UTC+2).

 

6.2.2 For the accounts that have not been grouped or registered after the Contest starts, their equity will be synchronized at 00:00 (UTC+2) every day from the next day to the end of Contest registration. And these accounts will be grouped when their equity is greater than $0.

 

7. Ranking Rules

7.1 Ranking Update Time

The score and ranking of participating accounts will be updated at 00:10:00 (UTC+2) every day except Sunday. The update may be delayed due to network delays or other problems.

 

7.2 Calculation Formula of Comprehensive Score

When in different groups, each account gets a different score according to a different formula. And then the account will be ranked in descending order according to scores in different groups. Here are the details of the formulas:

 

Elite Group & Random Group:

The Comprehensive Score=Account Equity Score*10%+Maximum Drawdown Score*30%+Accumulated Net Profit Score*30%+Profit Ratio Score*30%

 

Broker Group:

The Comprehensive Score=Account equity Score*20%+Maximum Drawdown Score*20%+Accumulated Net Profit Score*30%+Profit Ratio Score*30%

 

7.3 Calculation Formula of Individual Score

7.3.1 Four individual scores will be calculated for all participating accounts. They are account equity score, maximum drawdown score, accumulated net profit score and profit ratio score.

 

7.3.2 Calculation Formula of Equity

Equity score =(Account equity/Maximum equity held in the group's accounts)*100*30% +[(n-Rank+1)/n]*100*70%

Note: "n" is the total number of participating accounts in the group, and "Rank" is each account's ranking in the group in descending order of account equity.

There are no restrictions on deposit and withdrawal during the Contest period, but it will affect the equity score of participating accounts in the elite group and broker group.

There may be a failure of order synchronization that affects the reading of deposit, withdrawal and equity and thus the calculation of the maximum drawdown score.

*The upper limit of account equity and maximum equity held in the group's accounts is $10,000, and this limit is for the elite group only.

 

7.3.3 Calculation Formula of Maximum Drawdown Score

Maximum drawdown score=(n-Rank+1)/n *100

Note: "n" is the total number of participating accounts in the group, and "Rank" is the ranking of the group's accounts in ascending order according to maximum drawdown.

E.g. If the maximum drawdown of an account is 5%, which is the smallest maximum drawdown for elite group accounts. Therefore, the score of this account in the elite group is(1,000-1+1)/1,000 *100=100.

*The maximum drawdown score is a measure of the maximum retracement in account equity, which is based on an hourly record.

 

7.3.4 Calculation Formula of Net Profit Score

Net profit score =(Net profit of the account/Maximum net profit of the group accounts)*100 *30% +[(n-Rank+1)/n ]*100*70%

*Note:

A) "n" is the total number of participating accounts in the group, and "Rank" is the ranking of the group's accounts in ascending order according to net profit.

B) Net Profit of an Account = [Profit or losses of all positions that are closed during the Contest] +/- [Profit or losses of the positions being held at the end of the Contest] +/- [Profit or losses of the positions being held when the account is grouped].

C) Piecewise calculation of the Net profit of the account will be triggered if the deposit of the account of the elite group during the Contest period results in the following simultaneously:

a, Equity being held when grouping-①Losses+Accumulated deposit>$10,000;

b, Equity being held when grouping>$10,000.

When the above situation occurs, the Net Profit in the formula=[Profit or losses of all positions that are closed before the piecewise calculation] +[$10,000*split-adjusted profit ratio after the piecewise calculation]

*①Definition of Losses:

a, When [profit or losses of closed positions] +/- [profit or losses of open positions] is greater than $0, the Losses is $0;

b, When [profit or losses of closed positions] +/- [profit or losses of open positions] is smaller than $0, the Losses is the result of the preceding formula.

 

7.3.5 Calculation Formula of Profit Ratio Score

Profit Ratio Score=(n-Rank+1)/n*100

*Note: "n" is the total number of participating accounts in the group, and "Rank" is the ranking of the group's accounts in descending order according to the split-adjusted profit ratio.

 

7.4 When the equity of the account is no greater than $0 during the Contest period, it will be calculated as $1 in all the formulas above.

 

8. Awards and Prizes

8.1 Contest prizes

Elite Group:

Ranking

Prize

1st

$1,600

2nd

$800

3rd

$400

 

Random Group:

Ranking

Prize

1st

1,800 FCOIN

2nd

800 FCOIN

3rd

400 FCOIN

 

Broker Group:   

Ranking Prize
FOLLOWME Season 10 Trading Contest Rules
Additional bonus
1st $400 $3,000
2nd $300 $1,000
3rd $200 $500
monthly $50 -
Note: $4,500 refers to the extra bouns provided by KVB PRIME. Here, $3,000 for 1st place, $1,000 for 2nd place and $500 for 3rd place. 

 

Monthly Champion in April & May     $100

 

8.2 Award Publicity and Verification

8.2.1 Publicity period of winners: July 1, 2022-July 7, 2022

All winners need to pass FOLLOWME real-name authentication and be consistent with the MT4 account name.

 

8.2.2 During the publicity period, if any user disputes the account type, order authenticity, deposit authenticity, statistics accuracy and other parts of the ranking account, FOLLOWME will verify the information of the disputed account. The disputed users must provide a video as proof, clearly showing the account name, account number, deposit and withdrawal records on the official website of the broker.

 

8.2.3 After the publicity period, the Contest will award the undisputed winning users. The form of prize distribution will be determined through consultation with the winning users.

 

8.2.4 The personal income tax involved in the prize should be declared by himself/herself according to the policy of the country or region where he/she is located.

 

8.2.5 The prize of the monthly champion will be issued within 7 working days after the announcement of the winners.

 

9. Contest Terms

9.1 Each participant agrees that their account data will be displayed and used in the Contest.

 

9.2 Each participant agrees to the Account Connection Agreement of FOLLOWME Trading Community and accepts all terms.

 

9.3 It is not allowed to retire from the Contest.

 

9.4 If there is a disputed account, the equity and the number of orders will be deducted from the calculation of the prize.

 

9.5 If a broker is removed from the signal list for licensed brokers during the Contest period, all participating accounts of the broker will be removed from the elite group and will only be displayed in the broker group.

Understand the Standard of the Signal List for Licensed Brokers.

 

9.6 Winners will be disqualified for the following situations:

a, The profit ratio of the accounts is no greater than 0 when the Contest period ends.

b, Any participant does not comply with the verification or his/her verification fails.

c, The withdrawal that is marked as Credit type after grouping is greater than the sum of initial equity and the balance held during the Contest period.

 

9.7 FOLLOWME reserves the right to cancel, suspend or terminate the Contest by requirements of relevant laws and regulations, judicial or administrative orders and actual conditions.

 

10. Disclaimer

10.1 As an independent third-party event system, the Contest only provides data display of trading accounts for statistics and publication and does not involve any trading products. The participants are responsible and liable for any part, or all of the losses incurred due to CFD tradings during the Contest period. The Contest and technical supporters do not assume any responsibility for it.

 

10.2 The Contest does not guarantee that the network service will at all times meet the requirements of the participants, nor does the network service will not be interrupted. The timeliness, security, and accuracy of network services are not guaranteed, either. For network service interruptions or other defects caused by force majeure or uncontrollable reasons, the Contest and technical support parties shall not assume any responsibility.

 

FAQ

1. Can I trade if I have successfully registered before the Contest starts?

Yes, you can. But the trading orders before the Contest starts will not count towards the Contest score.

 

2. Will it affect my score if I hold positions when I register for the Contest?

No, the Contest score will be calculated after the account is grouped.

 

3. Will deposits and withdrawals affect the score and ranking during the Contest period?

Yes, it will affect the score of the account equity. But there are no restrictions on deposit and withdrawal.

 

4. Why can't I see my account score?

a, Account cannot be connected due to an incorrect password: The system will automatically check the connection status of all participating accounts at 23:45 (UTC+2) daily (except at weekends). If the connection cannot be made due to an incorrect password, the Contest score of the account will no longer be displayed.

b, Account is open to dispute: During the Contest period, if there is a dispute in an account under Contest rules 8.2.2, the Contest score of the account will no longer be displayed.

*The account whose score is no longer displayed will be ranked in last place until another account whose score is no longer displayed appears.  

 

5. Can I subscribe to Signal and COPYTRADE during the Contest period?

Yes, you can subscribe to Signals. But when or after grouping, if the account has COPYTRADE orders, it will be moved to the random group.

 

6. After the trading account is connected, why is it not displayed on the ranking of accounts that can be selected for the Contest?

After the trading account is connected successfully, the system may take 1 to 10 minutes to synchronize data. Please be patient.

 

7. Why is my account not grouped?

a, Because the equity of your account is no greater than $0 during the registration period.

b, Because you changed the password of your account and the password was not updated on FOLLOWME before the Contest period.

 

8. Can I use multiple accounts to participate in the Contest?

Yes, you can use multiple accounts to participate. But in the same group, only the account with the highest score will be displayed. If there is no account displayed on the ranking, you can check in My Contest.

Proofreading: Jelly & Olivia

FOLLOWME Season 10 Trading Contest Rules

 

Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

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