Trading with currencies and CFDs is speculative in nature and could involve the risk of loss. Such trading is not suitable for all investors. Before using the service please acknowledge the risks associated with trading.
Please examine the terms and conditions of the "Magic Token" Campaign and consult an expert if necessary, before accepting the "Magic Token" Terms and Conditions.
1.1 The "Magic Token" campaign (Campaign) will take place from 01.03.2014 to 30.04.2014
1.2 The Campaign is available in only for the citizens of Nigeria
1.3 New clients of Admiral Markets are able to join the Campaign only by registering at a promotional registration page.
1.4 Existing clients of Admiral Markets will be able to join the Campaign via Admiral Markets Trader's Room.
1.5 The minimum deposit is 50 USD or the equivalent in another currency.
1.6 The "Magic Token" campaign is valid fifteen (15) days from the date of registration in the Campaign. If the deposit is received later than 15 days after registration, then Admiral Markets has a right to remove any eligibility for the bonus.
1.7 The Bonus (Bonus) constitutes only an additional free margin limit and therefore it increases the amount of funds available for trading (i.e. for opening new positions and maintaining margin requirements to such positions). The Bonus however is not a part of the balance of the trading account and as such it cannot be withdrawn nor transferred to other accounts before the completion of the trading volume requirement (Trading Volume Requirement) stated in the current "Magic Token" campaign.
1.8 The Bonus is deposited to the account as margin credit and therefore cannot be used to cover trading losses.
1.9 Trading Volume Requirement is calculated in lots, where 1 lot is equal to 100,000 of currency units traded 'round-turn', i.e. opening of 100,000 currency unit position and close of this same position will count as 1 lot of Trading Volume Requirement if it complies to terms set forth in paragraph 1.11.
1.10 Due to the significant difference in margin requirements and default contract size for non-currency instruments, the calculation of Trading Volume Requirement for such instruments is carried out with the following dividers:
GOLD - 1, SILVER - 10
WIG40 - 200,
SP500 - 100,
NQ100, CAC40, STOXX50 - 50,
FTSE100, DAX30, JP225, ASX200, IBEX35 - 20,
DJI30, MIB40 - 10
All stocks CFDs - 1000
When a Participant opens a position for 100 contracts of FTSE index, the amount of the deal has to be converted to the Trading Volume that will count towards the Bonus Trading Volume Requirement. This is done by dividing the amount of the deal (100 contracts) by the divider of the instrument (20), so the deal size that will be counted toward the Trading Volume Requirement will be 100 / 20 = 5 lots.
1.11 A valid trade for Trading Volume Requirement calculation is a full round turn. A closed trade that complies with all three of the following criteria:
1.12 The Bonus can be released to Participant's account's balance only in full remaining amount and only after the whole Trading Volume Requirement has been met.
1.13 The time for generating the Trading Volume Requirement is limited. Participants have 180 days (Expiration Period) from the day of receiving the Bonus to complete the Trading Volume Requirement. If the Trading Volume Requirement has not been completed and the Bonus period has expired, Admiral Markets has the right to remove the bonus amount from the trading account without any prior notice to the Participant's trading account.
1.14 The "Magic Token" bonus is provided for deposits below 1,000 USD or equivalent in another currency. If the Participant deposits a larger amount, it is necessary to contact nigeria@mtrading.com to receive a personal quotation.
1.15 "Magic Token" campaign Participants are not limited in making additional deposits to their trading accounts to sustain bigger or sufficient margin for their trading goals, however the Bonus will be given only once per trading account to each Participant during the whole period of the campaign.
1.16 Under no circumstances should a Participant's trading strategy take into account the terms and conditions of this Bonus promotion. All trading decisions should be made based on the Participant's understanding of the markets and involved risks and the Participant's specific trading strategies.
1.17 Due to additional free margin limit formed by the Bonus amount in the trading account, the Participant accepts and agrees that besides the Default Stop Out level stated on the Admiral Markets website (margin level falls below 30% or lower) an Additional Stop Out condition will be applied to Participant's trading account that contains Bonus. The Participant's open positions will be immediately liquidated if any of the Default or Additional Stop Out conditions will occur in the Participant's trading account.
1.18 Additional Stop Out condition will trigger the Stop Out procedure and liquidation of all open positions if the Participant's total account equity (own balance + current floating profit/loss + swap + Bonus amount - per trade commissions) decreases below the amount of received Bonus (margin credit).
When a Participant has 1000 USD of own funds in trading account and additional 250 USD received as Bonus, total amount that may be used as margin in the account is 1250 USD. If Participant uses 1000 USD as margin, Default Stop Out will trigger when current account equity decreases below 30% of used margin, i.e. when equity will drop to 300 USD or lower. This remaining amount of 300 USD is greater than amount received as Bonus, therefore equity did not drop below amount of Bonus and Default Stop Out procedure will trigger at margin level of 30%.
Following the same parameters as in the example above, but assuming that this time the Participant will use 500 USD for margin requirements. In such case 30% of this margin requirement will be 150 USD, however as this amount remains below of the amount of received Bonus (250 USD) an Additional Stop Out condition will apply whenever total account equity decreases below 250 USD. As a result Stop Out will trigger at margin level of 50%.
1.19 The Participant can only join the Campaign with a real Admiral.Standard account denominated in USD
2.1 A Bonus can only be provided to the Participants that registered for the Campaign via the means described at 1.3 and 1.4, accepted the terms and conditions and funded an account with a minimum of 50 USD or equivalent in another currency.
2.2 Bonuses will only be credited to the exact same real trading account that was funded by the Participant.
2.3 Participant's trading accounts are eligible for the Bonus only once.
3.1 Once credited to a Participant's trading account, the Bonus remains linked to this same account and cannot be withdrawn either partially or in full unless the minimum trading volume requirement is met in its entirety.
3.2 Internal transfers of the Bonus to other trading accounts are not allowed unless the Trading Volume Requirement has been met in its entirety.
3.3 Participant can withdraw accrued profits and earlier deposits from trading accounts. Participant understands and agrees that in cases in which a withdrawal of deposited funds occurs before the Trading Volume Requirement has been met, this will lead to the complete removal of the Bonus from the Participant's account.
3.4 When having open positions, a Participant can withdraw the limited amount of the accrued profits and still keep the bonus. The allowed withdrawal amount can be calculated using this formula: 70% Free margin - Bonus amount - Awarded deposit.
3.5 If any of campaign Participants fails to meet the Trading Volume Requirement within the Expiration Period from receiving the Bonus - the Bonus can be removed from the Participant's account without any prior notice from Admiral Markets. It is the Participant's sole responsibility to arrange sufficient margin level on their accounts prior to campaign end date. This is so that margin level will still remain sufficient after removal of the Bonus to avoid Stop Out and liquidation of all open positions.
3.6 If any of campaign Participants meets the Trading Volume Requirement within the Expiration Period - the Bonus will be automatically transferred within 48 hours from the Participant's account credit field over to the Balance field. All restrictions regarding transferred Bonus amount will also be waived.
3.7 After the Bonus has been removed from the Participant's trading account, or if the Bonus is transferred to accounts balance as a result of Trading Volume Requirement fulfilment, the ability to withdraw relevant funds from trading account will be unlocked.
3.8 Once the Bonus is removed from the Participant's account due to a withdrawal or a transfer, the Participant loses any rights for Bonus resubmission.
3.9 In order to withdraw any bonus funds from a real trading account, the client will have to meet a minimum trading volume requirement as described in 3.10.
3.10 In order to withdraw the Bonus amount, a person has to trade 0.1 lots for each 1 USD of the Bonus received. The bonus cannot be withdrawn partially, only in full amount.
4.1 Admiral Markets reserves the right to amend, change or cancel this campaign with a prior notice to the current Participants via email at all times.
4.2 If Admiral Markets suspects that a campaign Participant has abused or attempted to abuse a campaign or otherwise acted with a lack of good faith towards Admiral Markets, Admiral Markets reserves the right to deny, withhold, cancel or withdraw from that Participant any Bonus amount, and, if necessary, cancel any terms and conditions of this campaign and client agreement with respect to that campaign Participant, either temporarily or permanently, as well as terminate the Participant's access to the services and/or block the Participant's account(s).
4.3 The Bonus funds are considered to be the property of Admiral Markets until the campaign Participant reaches the required minimum trading volume.
4.4 Trading in the Forex and CFD markets entails significant risk. Participation in the Forex and CFD markets should not be undertaken unless the Participant is fully aware of and understands the risks involved in trading. Participation in this promotion should not be a motivating factor when considering participation in the Forex and CFD markets.
4.5 It is the sole responsibility of the Participant to ensure that all applicable taxes and fees on Bonuses in their countries are paid.
4.6 All disputes or situations not covered by these terms and conditions will be resolved by Admiral Markets management in a manner it deems to be fairest to all concerned. Such decisions shall be final and binding to the Participant.