Sep 19 2016 8:00 am

Tradimo's policy against fraud concerning the financial learning competition with Hou Yifan

Following allegations made by Chess Club Live, we have decided to make a statement to clarify our position in relation to the alleged irregularities concerning the financial learning challenge at Tradimo.

About the challenge

Our challenge gives chess fans and the general public the opportunity to learn how to trade currencies and stocks following the learning process of Women’s World Chess and Olympic Champion Hou Yifan. Yifan is new to the trading world and she will learn to trade through the online courses provided at https://learn.tradimo.com.

Until November, all anyone has to do in order to win a spot on the trip to Beijing is to:

  1. register at https://tradimochallenge.com/, and
  2. send an invitation through Facebook, Twitter, Email or any other way to their friends using their custom referral link which they can see on the website after subscribing.

From November onwards, people can still continue to win spots by referring friends, but a second opportunity opens up: they can join the social trading challenge.

The social trading challenge is a joint effort of all participants to trade, invest and reach a joint profit goal together with Hou Yifan. Participants can follow Yifan’s learning journey via her blog at Tradimo.

In order to join the social trading competition beginning in November, participants need to:

  1. open a trading account via our link
  2. download the SwipeStox app that allows them to see all trading and investing activities of the other participants, copy each others’ trades and suggest investment ideas to Hou Yifan. The link for the app is also provided after opening an account at the designated broker of the competition via our link.

The top 5 contributors to the joint profit will win spots on the trip to Beijing and all active traders will get additional rewards upon reaching of the profit goal.

In total, 15 participants of the challenge will be invited to a one week financial learning seminar to Beijing and dinner with Hou Yifan. These are:

  • The top 5 friend referrers from China
  • The top 5 friend referrers from the rest of the world
  • The top 5 traders during the social trading challenge

The case

Chess Club Live publicly accused Tradimo of wrongfully disqualifying one of their editors from the friend referral part of the challenge.

We want to make it clear that Tradimo operates based on fair and equal principles. Therefore, we regularly check the referrals for fraudulent activities and have reserved the right to disqualify anyone whose referrals are not genuine humans and/or exclude those referrals from the count of referred friends. The circumstances in this special case have led us to decide to only exclude certain referrals and allow the participant to continue to compete for his spot on the trip.

To conclude, we would like to invite everyone to continue the challenge in order to win the trip to Beijing, reassuring them of the fairness of the competition: Our referral review team is working hard every day to ensure that real people with real friends meet up in Beijing to learn to make your savings profitable by investing professionally, have lots of fun and a fantastic dinner with Hou Yifan.
Even if you haven’t referred any friends: It’s not too late yet! Join this great opportunity!

Good luck for the challenge!

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