Agreements & Disclosures - Tournament Agreement

Official futures entry agreement

The undersigned wishes to compete in the Virtual World Cup Championship of Futures Trading®(VWCC) sponsored by Legends Trading Group, Inc. (“Sponsor”) and has purchased a VWCC account with Sponsor. If accepted, it is agreed that the undersigned (referred to herein as “Entrant”), shall be entitled to participate in the Virtual World Cup Championship of Futures Trading (“The Championship”) subject to the following conditions:  


Entrant will be provided a $10,000 Virtual Funds futures trading account, trading platform, and CME Level 1 Bundle market data upon entry. To demonstrate track records for individual strategies, the entrant may open more than one account at the beginning of the Championship or at any time during the Championship Period. Each account will be separately Virtually funded and margined. Only the best-performing account will be used for ranking purposes. 


The entrant agrees to begin trading on or after the first trading day of the selected Tournament.  The Championship trading period will end as of the close of business on the last trading day of the selected Tournament.   


The top profitable finisher will receive a Cash Championship Award. Entrant irrevocably authorizes Sponsor, in its sole discretion, to obtain and print, publish, televise, or otherwise utilize his, her or their names, photographs, account statements, and descriptions of World Cup participation in connection with this or future Championships and with other promotions deemed appropriate by the sponsor.  


The Entrant represents that he or she is of legal age in the jurisdiction in which they reside and that neither they nor any member of their household is related to principals or employees of the Sponsor.  


All trading shall be conducted in accordance with a separately executed Agreement with the sponsor. Entrant agrees to the following Championship rules and regulations, which may limit those outlined in the Agreement. The purpose of the Championship rules is to ensure that every Entrant will have the same opportunity for success. Sponsor reserves the right to amend, waive, or interpret any rule if, in their sole discretion, to do so would be in the best interests of the Championship. 

  1. Trading in the Championship will be limited to listed futures contracts and options thereon on any exchange available through and approved by the Sponsor. Trading of  options is prohibited and may result in disqualification.
  2. Entrant agrees to place all orders through Sponsor’s provided order entry platform(s).
  3. This Championship is intended for Day Trading only.  Any entrant who holds a position overnight is subject to disqualification at the Sponsor’s discretion. 
  4. Accounts will be charged a virtual brokerage commission of $1.44 per contract side ($0.50 for Micros) for futures trades and  plus exchange, NFA, trade processing, and transaction. 
  5. In the event of errors in order entry or execution, the determination of Sponsor shall be final with regard to Championship standings.
  6. Trading must be conducted in the Entrant’s Virtual Championship account(s). A minimum of ten (10) round-turn trades of any contract number, per account, must be placed during the Championship Period for Entrant to qualify for a Championship Award for that account. Any multiple-contract trade that is offset by a group of smaller quantities in clearing shall be considered to be a single trade for purposes of meeting the ten (10) round-turn trade minimum. Option positions shall be considered round-turns upon liquidation, expiration, or assignment.
  7. Each Entrant agrees that Sponsor has the right to remove or bar any Entrant from the Championship, who, in their sole judgment, would tend to dishonor the Championship, has violated any rule, law, or regulation pertaining to futures trading, or who has attempted to benefit from any collusive or other trading irregularity, including but not limited to trading contracts in opposite directions within the same or similar asset classes in more than one account. Sponsor shall have the same right to remove or bar Account Managers.
  8. Entrant permits Authorized Broker to provide Sponsor with the ability to view activity in Entrant’s account(s) to monitor Championship performance.
  9. Entry in the Championship is void where prohibited by law. Winners will be responsible for any taxation on awards.

Initial margin for new positions and maintenance margin for existing positions must be maintained in accordance with the Sponsor’s requirements, which may be adjusted from time to time without prior notice. Entrants must liquidate positions to meet a margin call. Championship accounts may not be cross-margined by other accounts owned by the entrant. 


Each championship account is set up with a trailing max loss of $7500.  This means you can’t lose more than $7500 of your accounts high watermark value based on open and closed positions.  If the account exceeds the trailing max loss of $7500, it will be liquidated and the account will be disqualified.  Entrant may purchase an account reset through the dashboard.  Account reset will enable trading with $10,000 virtual funds.

Sponsor may liquidate all open positions and prohibit further trading for the rest of the day if an account’s total equity falls 50% from the total equity that existed at the start of the trading day. In such circumstances, the account may resume trading in the Championship the following day. 

If entrants account(s) is on margin call at close of market positions will be liquidated and the account will be disqualified . The entrant then has the option to reload his or her account for a reset fee or to join the next monthly Championship 


The top traders as specified in paragraph 3 will be determined based on net return. All futures and options positions will be marked to the market on the close of business at month end of the selected month “Ending Equity.” For the purposes of The Championship results, Ending Equity will be ledger balance minus commissions due for liquidating any open positions. The Entrants with Ending Equity that show the highest percentage increase over Total Funds Deposited will be the winners. The percentage increase will be calculated by taking the Ending Virtual Equity divided by the starting Virtual Funds Deposited.  


The World Cup Trading Championships® and World Cup Advisor® are registered trademarks. Entrant shall not and agrees not to, either alone or in concert with others, use the Championship or his or her participation in the Championship for promotional purposes unless approved in advance in writing. If the Entrant violates this provision, the Entrant may be disqualified from competing in the Championship or future Championships at Sponsor’s sole discretion. If found by Sponsor to be in violation, Entrant agrees to pay all legal fees and damages incurred by Sponsor to enforce this provision, and, if applicable, return to Sponsor any award(s) received as liquidated damages. 


Sponsor shall not be responsible for any delays in the acceptance or transmission of orders due to a breakdown or failure of transmission, computer (hardware, software, or interfaces), or communication facilities, or for any other cause beyond their reasonable control or anticipation. 


Entrant agrees to indemnify Sponsor and hold them harmless from and against any and all liabilities, losses, damages, costs, and expenses, including attorney’s fees, incurred by any of them resulting from misrepresentations, breach of any provision of this agreement, the trading in Entrant’s account(s), or legal action brought by Entrant and adjudicated in favor of Sponsor.  


Sponsor reserves the right to modify the length of the trading period, Cash Championship Award ,to postpone the starting date, or to cancel the Championship if, in their sole discretion, they determine that such action is reasonable or necessary. This agreement shall not be deemed accepted until approved by the Sponsor. Sponsor, in their sole discretion, may reject any Entrant’s application for any reason and return it together with all Entry Fees submitted. 


This Agreement shall be governed, construed, and enforced in accordance with the laws of the State of Illinois, and any cases, claims, and controversies, based upon or arising out of this agreement, shall be adjudicated only by an Illinois state court located in Cook County, Illinois or a Federal District Court for the Northern District of Illinois, and Entrant consents to the jurisdiction and venue of such courts in any such proceeding.