It's a weekly demo account contest from InstaForex, held every week from Monday 00:00 till Friday 23:59:59 (server time). Weekly prize fund for the contest is $1,500 USD, distributed among the winners in the following way:
- 1st place — $500
- 2nd place — $400
- 3rd place — $300
- 4th place — $200
- 5th place — $100
Registration for each contest is open during whole previous week. A separate demo trading account will be opened for each weekly contest. $10,000 virtual founds will be credited to the trading account. Contest participants may use expert advisors and any trading strategies without any restrictions. All trading instruments, except Gold, can be used in this contest. The margin is fixed at 1:500 level. Minimum trading volume per positions is 0.01 lots, maximum is 10 lots and step is 0.01 lots. The stop-out level is 10%. No-swap accounts can be used.
After the contest is finished (on Friday at 23:59:59) it may take up to 7 days to publish the final results and announce the winners. The owners of the highest account balance will be announced winners.
Prize funds will be transferred to the real trading account, opened by the administration of InstaForex. All prizes, including the first place prize, cannot be withdrawn from the account. Any profit made over the prize sum can be withdrawn freely.
You wish to participate in the Forex Sniper contest. Before the week you want to trade actively, participating in the contest, you register for a contest and and a sepecial demo account is opened for you. You begin trading on Monday next week and by the end of this week's trading session you earn $18,292.89 profit over initial $10,000 initial balance, which qualifies you, for example, for the 2nd place. You get $400 prize transferred to the real trading account opened for you. You can't withdraw it but you can use it to gain withdrawable profit.
Not less than 5% of profit should be earned in the GBP/USD and GBP/JPY currency pairs each. Particiapnts that won a prize aren’t allowed to participate during the following month.