IC MARKETS CUP - contest 7

Hello and welcome to the 7th round of the IC Markets $100,000 Traders Cup.

:fire::fire:NO DEPOSIT REQUIRED, PRIZES PAID IN CASH!!!:fire::fire:

The Traders Cup will be 18 demo trading contests: 17 rounds with $70,000 in cash prizes and a Final round.
Winners plus 10 runners-up from each round will advance to the Final and compete for a $30,000 prize pool.

Total prize pool: $100,000 - Total prizes: 520
Before joining the IC Markets Traders Cup, please read the contest rules .

:man_office_worker: Contest broker : IC Markets
:desktop_computer: Contest server : ICMarketsSC-Demo01
:dollar: Starting equity : $1,000
:stopwatch: Contest starts : June 12th - Ends : June 16th
:date: Contest duration : 1 week
:chart_with_upwards_trend: Maximum trades : 40
:robot: EA trading : EAs NOT Allowed
:balance_scale: Maximum leverage : 100:1
:bar_chart: Peak to valley max DD : 30%
:dart: Instruments : XTIUSD, XBRUSD ONLY - trades on other symbols (NAS30, XAU/USD, BTC/USD, EUR/USD, etc), will not count toward your performance.
:moneybag: Cash prizes : 20 : $1,000 - $600 - $350 - $200 - $100 - $50x15

Please visit our FAQs page to find the answers to:

:point_right:t2: JOIN NOW!!! :point_left:t2:

Please feel free to post issues, concerns, likes, or just chat with other participants.
If you have any issues with registration, please chat with our “24/5 Live Chat ” customer support team.

Thank you and good luck :fire: :rocket:

Hello, I would like to inform you that the drowdow is being calculated wrong, I didn’t even get close to the 30% allowed, even so the system withdrew me from the championship with the operation still in profit and with a drowdow balance of about 400 usd left, I would like you to Please correct this error so I can compete again

Hi there @espacotraders :wave:and welcome back to our forum.

Right, I went to our contests management system and I can confirm that the DD is calculated properly - there’s nothing wrong.

As you can see in the image above, your demo account reached an equity high of 7528.40 and on the 15-06-23, server time 04:09:55 your demo account equity dropped to 5203.40 which is 30.88%, thus breaking the rule of max DD 30%.

Here’s another chart with your demo account peak-to-valley equity:

Please remember that the max DD rule is applied to the equity high - equity low, not account balance. A simple explanation (with images) of how the DD rule works can be found here: https://clearmarketshelp.zendesk.com/hc/en-us/articles/11804769873940-How-the-contest-equity-drawdown-percentage-DD-rule-works

We hope to see you in our next contest(s) and hopefully reward you with a cash prize :fire: :fire: :fire:

Happy trading :slight_smile:

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