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Registration for the LiteForex "Nigeria-Traders' Marathon" Now Open

May 31 2013

After spicing up their offering earlier this month with the introduction of auto-withdrawals, world indices and new commodities, the good guy from LiteForex are back today with a new attraction – a regional live contest especially for customers from Nigeria. The winner of the “Nigeria – Traders’ Marathon” will be able to take home a nice, shiny Samsung Galaxy S4.

The contest period will be starting on June 10 and will last until July 10, though registration is already open for both new and existing clients. Each participant can register up to 10 accounts for the contest in their profile, though each must be funded with an initial deposit of $100 (no transferring funds from other accounts accepted). At the end of the competition period, the top 15 traders with the highest profitability will be considered winners and will receive prizes as follows:

As for the profitability, it will be calculated by the following formula:

% Profit = ( EquityFinal / ( EquityStart + All Deposits) ) -1 ) * 100%,

where “EquityStart” stands for the balance in the account on June 10, plus bonuses, plus any profit and loss on open positions, and “EquityFinal” stands for the amount of funds in the account at the end of the contest, plus bonuses, plus floating profit and loss on all currently open positions. If two participants have the same profitability, the one with the higher number of executed trades is considered the winner. If more than one account belonging to the same person is ranked among the top 15, only the one with the highest profitability will get a prize.

The trading conditions applied to the contest will be the same as what LiteForex always offers for its live Metatrader 4 (MT 4) accounts. Bonuses will also be applied as usual, and any Expert Advisors (EA’s) and strategies can be used, as long as they comply with the broker’s Agreement on Quoting System and Transactions Procedure. Keep in mind that LiteForex has very strict rules regarding disqualification – anyone who registers more than one profile, uses a proxy server, opens inverse transactions on two of their accounts at the same time or trades illegally with other participants will be removed from the competition immediately upon discovery.

All in all, nothing too confusing or complex; just your basic, run-of-the-mill opportunity to trade and win prizes. Of course, the only catch is you actually have to live in Nigeria in order to participate. Bummer, huh? Still, there are other competitions out there, most of which accept traders from all over the world, like the latest “Knock Out the Competition” competition at XEMarkets, or the HY Markets 2013 Live Competition. Good luck!

About LiteForex

LiteForex Company was established in 2005, aiming to make the Forex market an accessible, safe, easy and profitable place. With this in mind, the brokerage was the first to offer cent accounts with an initial deposit of 1$. 

At present, LiteForex is among the leading FX brokers offering services to traders with all levels of expertise from across the globe. It is on the list of top 100 companies according to World Finance.

TAGS: liteforex  contest  marathon  traders marathon 

More news about LiteForex

Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
$100 Review Website
Australia ASIC MT4, MT5,
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Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
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UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
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Cyprus CySEC MT4, MT5, Web $1 Review Website
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Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
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