Glossary

Applicant

Applicant – a person who has submitted his/her application for participation in Genesis or Genesis Prime competition, and who has not yet been accepted or rejected.

Requirements for the applicant of the Genesis competition.
Requirements for the applicant of the Genesis Prime competition.
Participant

Participant – an ICE FX client that has been accepted to participate in the Genesis or Genesis Prime competition.

Requirements for the Genesis participant.
Requirements for the Genesis Prime participant.
Finalist

Finalist – a participant in the Genesis or Genesis Prime competition, who has successfully completed all the 4 rounds of the competition. A finalist receives additional bonuses. Besides, the number of requirements for him/her is lower than that of a participant.

Additional privileges of the finalist of the Genesis competition.
Additional privileges of the finalist of the Genesis Prime competition.
Test-trade

Test-trade – the process by which an applicant trades on a demo account. Test trade lasts for 4 weeks and aims at confirming the competition trading strategy provided on monitoring in the application form. Test-trade is not a mandatory requirement for participation in a competition. However, it may be required by the risk manager, supervising the competition, if there are doubts of whether the monitoring system provided belongs to the applicant.

The maximum loss for the week

The maximum loss for the week – a loss limit that in existence during the trading week. It is calculated based on the equity value at the beginning of the week, regardless of by how much the equity account grows for this period. Once this limit is triggered, the participant's trading will be suspended until the end of the trading week. This does not cancel bonuses, neither does it lead to removal of a participant from the competition.

Read more about the requirements for trading in the Genesis competition.
Read more about the requirements for trading in the Genesis Prime competition.
SL -max loss during a week20%10%0%-10%EquityTime
Maximum drawdown

Maximum drawdown – a loss limit that is in existence for an unlimited period. It is calculated based on the maximum equity value.
Once this limit is triggered, the participant will be removed from the competition and all his previously earned bonuses will be lost.

More details about trading requirements in Genesis competitions.
More details about trading requirements in Genesis Prime competitions.
30%20%10%0%EquityTimemax(DD) - maximumdrowdown
Round

Round – a round is made up of 13 weeks and it is the basic time interval of a competition.
The beginning and end of rounds are the same for all participants.
A competition consists of four rounds, each of which lasts for 13 weeks (3 calendar months).
The order by which the rounds are calculated (from the 1st to the 4th round) is personalized (depends on when a participant starts his/her participation in the competition).
Each stage consists of two time periods: "main" and "transition" periods.

Main period

Main period – is the first 12 weeks of any round. During this period, trading in the competition account is the only thing allowed. In this period, a participant will not be able to deposit or withdraw funds from his/her competition account.

Transition period

Transition period – is the last week of each round. During this period, the participant will be able to trade in the competition account, as well as deposit to or withdraw from the competition account. Also during this period:

  • Bonus funds are credited/paid out;
  • The competition organizers decide on whether to promote a participant to the next round or to remove him/her from the competition.
Deposit

Deposit – a collection of funds of all the multi-copies of the competition account. It includes:

  • The contestant's own funds deposited in the competition account;
  • Profit earned from trading activity;
  • Part of bonus funds earned through rebates.

The size of the participant's deposit is the basis for calculating all the deposit bonuses (segregated for each multi-copy and at the time of bonus calculation). If a part of the deposit involved in calculating the deposit bonus is withdrawn, the deposit bonus amount will be reduced in proportion to the withdrawal share of the entire deposit.

Own (deposited) funds

Own (deposited) funds – part of the participant's deposit deposited by him/her into the competition account from his own funds. For the Genesis Prime competition, if the participant (finalist) withdraws more than 50% of his/her own funds, his/her previously credited bonus funds will be cancelled in full.

Deposit bonus

Deposit bonus – bonus funds credited on the participant's deposit. The bonus funds are calculated as a percentage of the deposit at the time of crediting. It is paid into the manager's account.
If a part of the deposit involved in calculating the deposit bonus is withdrawn, the deposit bonus amount will be reduced in proportion to the withdrawal share of the entire deposit.
If a part of the deposit not involved in calculating the deposit bonus (deposit formed after the bonus has been credited) is withdrawn, the size of the deposit bonus does not change.

The size of accrued deposit bonus can be seen in the section "Competition Rounds and Prizes."
Genesis. Stages and prizes;
Genesis Prime. Stages and prizes.

Unconditional bonus

Unconditional bonus – bonus funds credited to the participant for successfully completing one of the rounds in a competition or for starting to participate in the competition. It is calculated in USD. It is added into "manager's funds".
This type of bonus can be canceled only if the participant is removed from the competition (for active participants) or if he/she exceeds the risk management limits (for finalists). Withdrawal (by a participant) of deposit funds from the account does not affect the size of the unconditional bonus.

The size of the unconditional bonus can be seen in the section "Competition Rounds and Prizes."
Genesis. Stages and prizes;
Genesis Prime. Stages and prizes.

Company's investments

Company's investments – additional funds provided to the participant (finalist) of the competition for management.
It is calculated in USD. It is added into "investors' funds".
Company's investments are not bonus funds and can be canceled only if the participant is removed from the competition (for active participants) or if he/she exceeds the risk management limits (for finalists). Withdrawal (by a participant) of deposit funds from the account does not affect the size of the company's investment.

The size of the Company's investments can be seen in the section "Competition Rounds and Prizes."
Genesis. Stages and prizes;
Genesis Prime. Stages and prizes.

Rebates

Rebates – a share of the commission paid by a participant (finalist) to ICE FX for carrying out trading activities. It is returned to the participant (finalist) in the form of withdrawable bonus funds. When calculating the size of rebate to be paid, commissions paid only from trades carried out on the manager's funds (including bonus funds) are used. Commissions paid from trades carried out on investors' funds is not taken into account when calculating the size of rebates.
The rebate amount cannot exceed the size of bonus funds.
Rebates are part of the participant's deposit, and can be withdrawn from the competition account

The rebate amounts are different for Genesis and Genesis Prime competitions, as well as for participants and finalists of these competitions.

More details on the terms of Rebate-deductions for the Genesis competition.
More details on the terms of Rebate-deductions for the Genesis Prime competition.