1. Introduction

• a.

  These Terms and Conditions (hereafter “Terms” or “Agreement”) govern your rights and obligations in connection with the use of the Services hosted in the Website and any of its related products and services. This Agreement is legally binding between you (“user”, “Client”, “you” or “your”) and Roundwave CY LTD with its registered office at Kremastis Rodou 62, Limassol, Cyprus (“we”, “us” or “our”).

• b.

  You are requested to read these Terms very carefully. You are under no obligation to use the Services if you do not agree or understand any part of this Agreement, nor should you use the Services unless you understand and agree to this Agreement.

• c.

  By registering on the Website or, where registration is not required, not later than by your first use of the Services, you are entering into a contract with us and you acknowledge that you have read, understood, and agree to be bound by the terms of this Agreement.

• d.

  If you are entering into this Agreement on behalf of a business or other legal entity, you represent that you have the authority to bind such entity to this Agreement, in which case the terms “user”, “you” or “your” shall refer to such entity. If you do not have such authority, or if you do not agree with the terms of this Agreement, you must not accept this Agreement and may not access and use the Website and Services.

• e.

  You acknowledge that this Agreement is a contract between you and us, even though it is electronic and is not physically signed by you, and it governs your use of the Website and Services.

• f.

  We reserve the right to amend this Agreement from time to time, at our sole discretion.

• g.

  The meaning of the definitions, expressions and abbreviations used in this Agreement can be found in clause 17below.

2. General Provisions

• a.

  The Services are provided only for personal use and to persons who are of legal age. The Services are intended only for persons over the age of 18, residing in a country where the Services are available. By registering on the Website, you confirm that you are over 18 years of age. You acknowledge that your access to and use of the Services may be restricted or prohibited by law in some countries, and you agree to access and use the Services only in accordance with applicable laws.

• b.

  Upon registering to the Website, you must provide your full correct name and residential address, by providing government issued identification and proof of residence document respectively. Any inconsistencies between the account name and identity documents provided may lead to payout cancellation, termination of this Agreement and closure of the user account.

• c.

  You may not use the Services if you are:

• (i)

  of nationality or residing in, Restricted Jurisdictions;

• (ii)

  not a natural person;

• (iii)

  subject to the relevant international sanctions;

• (iv)

  the subject of a criminal record related to financial crime or terrorism;

• “Restricted Jurisdictions” means: (i) any country, state or jurisdiction which prohibits the use or operation of the Services; or (ii) any of the following countries: Afghanistan, Antarctica, Antigua and Barbuda, the Republic of Belarus, Belize, Bhutan, Bouvet Island, Burundi, Cape Verde, Central African Republic, Chad, Cook Islands, Comoros, Republic of the Congo, Cuba, Djibouti, Dominica, Equatorial Guinea, Eritrea, Fiji, Gabon, Gambia, Grenada, Guinea, Guinea-Bissau, Holy See (Vatican City State), Iraq, Kazakhstan, Kiribati, Kosovo, Kyrgyzstan, Lesotho, Liberia, Malawi, Mali, Mauritania, Marshall Islands, Micronesia, Nauru, Niger, Niue, Papua New Guinea, the Russian Federation, Saint Barthélemy, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Samoa, San Marino, Sao Tome and Principe, Seychelles, Sierra Leone, Solomon Islands, Somalia, South Sudan, Sudan, Suriname, Swaziland, Tajikistan, Timor-Leste, Tokelau, Tonga, Turkey, Turkmenistan, Tuvalu, Ukraine (restrictions are limited to the following regions: Crimea, Sevastopol, Donetsk, Kherson, Luhansk, and Zaporizhzhia), Uzbekistan, United States, Vanuatu, Venezuela, Western Sahara. We reserve the right to refuse, restrict or terminate the provision of any Services to Client as per this clause and such Client is prohibited from using the Services, which also include the use of the Client Section and/or the Trading Platform.
• d.

  You acknowledge and accept that third Party payments are not allowed and will not be accepted by the Company. The name on the user account registered with us, the name on the purchase transactions within the user account and the name of the person receiving the payouts for the respective user account, must all be the same. We will cancel any payouts and close the user account in case of attempted payouts to third parties.

• e.

  You acknowledge that, even though financial market information is used in simulated trading, any trading that you perform through the Services is not real. In addition, you acknowledge that the funds provided to you for demo trading are fictitious and that you have no right to use those fictitious funds beyond the scope of their use within the Services, including, without limitation, the transfer of such funds to other accounts. You accept that fictitious funds may not be used for any actual trading and that you are not entitled to receive any payout of those funds.

• f.

  You accept that the we or any of our staff and representatives and/or any third party service providers will not pay you any remuneration or profits, nor will it require you to pay any losses, unless expressly agreed otherwise.

• g.

  You acknowledge that the Services, and any other services offered in the Website provided to you cannot be considered as investment services within the meaning of the applicable laws. You acknowledge that we and any of our staff and representatives and/or any third party service providers engaged in connection with the Services do not give or provide you with, nor will accept from you, any guidance, instructions or information about how or in what manner you should effect transactions when using the Services or otherwise, or any other similar information about the investment instruments traded by the user.

• h.

  You acknowledge that the Services do not constitute investment advice or recommendations. We and our staff and representatives and/or any third party service providers are not authorized to provide investment advice or recommendations. No liability is assumed for the actions of the Client and/or any third parties to whom the user grants access in violation of the law.

• i.

  The processing of the user’s personal data is carried out in accordance with our Privacy Policy, which is published on our Website, as may be amended from time to time.

3. Services

• a.

  You can request to receive the Services through the Website by completing the appropriate registration or order form. During registration, you will be asked to provide your login details and then you will be able to access the Client Section and Trading Platform.

• b.

  The Services consist of: (i) the Trading Platform; (ii) provision of analytical tools and educational materials; (iii) access to the Client Section; (iv) the Free Trial; (v) Trading Challenge and Verification products; The Free Trial and the Trading Challenge may differ with respect to the scope of the Services provided (e.g., by analytical tools available to the Client). Completing the Free Trial does not entitle you to access any other Services.

• c.

  You acknowledge that all data that you provide to us through the registration or, the Client Section, or otherwise must be complete, true, and up to date. You must immediately notify us by email to support@investingchallenges.com of any change in your data and/or update the data in your Client Section. You acknowledge that you are responsible for ensuring that all data provided is accurate and up to date.

• d.

  You acknowledge that if the jurisdiction where you are resident requires a tax number in order for the Company to send the payout to the Client, the Company will be obligated to request this information from you and you will be required to provide such information to the Company.

• e.

  The fee for the Trading Challenge varies according to the option selected and depends on the degree of the acceptable risk, the amount of the initial capital, the parameters that must be fulfilled so that the conditions of the Trading Challenge and the subsequent Verification are met, and possibly other configurations. The Website includes more detailed information on individual options and fees for those options. The final fee will be determined based on the option you select when ordering the Trading Challenge.

• f.

  We reserve the right to also provide the Services under individually agreed conditions, that will be determined by the Provider at its own discretion. Individual discounts and other benefits may not be combined, unless expressly agreed by us.

• g.

  The Client acknowledges and accepts that the Client will not be entitled to a refund of the fee if the Client cancels or terminates the use of the Services prematurely (e.g. started trading but does not complete the Challenge), fails to meet the conditions of the Trading Challenge or the Verification, and/or violates this Agreement.

• h.

  If the Client submits an unjustified complaint in relation to the paid fee or disputes the paid fee with the Client’s bank or payment service provider (e.g. through chargeback services), on the basis of which an annulment, cancellation or refund of the fee or any part thereof is requested, we are entitle, at it our own discretion, to stop providing to the Client any services, including Trading Challenges for which the fee has been paid for by you, and refuse any future provision of any Services.

• i.

  We reserve the right to unilaterally change the fees and scope of the Services and/or Trading Challenges at any time, including the parameters for their successful completion. The change does not affect the Services purchased before the change is notified to the Client.

• j.

  The order of the Services of your choice is made by submitting the order form. Once you submit the order form, we will confirm the receipt of your order by email to your e-mail address.In the case of the Free Trial, the order is completed upon the delivery of the confirmation to your e-mail address, whereby the contract is executed. In the case of the Trading Challenge, the order is completed upon the payment of the fee for the selected option, whereby the contract between you and us is executed, the subject of which is the provision of the Trading Challenge and, if the conditions of the Trading Challenge are met, the Verification.

• k.

  In order to use the Company’s Services, you must obtain the appropriate technical equipment and software, including third-party software (e.g., software for the use of the Trading Platform), at your own risk and expense. The internet access, purchase of the equipment, and purchase of the web browser and its updates are at your own risk and expense. There is no warrant or guarantee that the Services will be compatible with any specific equipment or software.

• l.

  You acknowledge that the Website and the Services, partly or as a whole, may be operated by any of our sub-contractors, partners or licensors, and that the information provided by you upon registration and in connection with the use of the Services, may be shared between us and such third party sub-contractors, partners or licensors, in accordance with our Privacy Policy.

• m.

  As a protective precaution to mitigate potentially harmful behavior of the Client, we may notify the Client through the Client Section if the Client places an unusually large number of orders for the Services within an unreasonably short period of time. We reserve the right to suspend any further orders of the Services by the Client if such unreasonable behavior continues after such notice. If we identify that the unusual behavior as per this paragraph relates to the Client’s involvement in Prohibited Trading Practices, we may take respective actions as per section 6 of this Agreement. We reserve the right to determine, at our own discretion, the nature of the behavior described above and reasonable boundaries for such determination.

4. Terms of Payment

• a.

  All fees are calculated in EUR. The Client can pay the fees in other currencies listed on the Website and a corresponding amount will be charged in a currency other than EUR. In case of payment of the fee in a currency other than EUR, we will use the current exchange rate of our payment provider, applicable at the time of payment, in order to convert the fee amount for the selected option.

• b.

  The Company’s fees include all taxes. If the Client is an entrepreneur (trader), he is obliged to fulfill his tax obligations in connection with the use of our services in accordance with applicable law and, in the event of an obligation, to duly pay taxes or other duties properly. Should the Services be deemed to be vatable and exceed the registration threshold in the Client’s country of residence, the Client will be responsible to register and pay VAT accordingly.

• c.

  You can use one of the available payment options that the Company currently offers and that are listed on the Website in order to pay the fee for the selected option.

• d.

  In the event of payment by a payment card or via any other express payment method, the payment shall be made immediately. If you select a bank transfer for payment, we will subsequently send you a proforma invoice in electronic form with the amount of the fee for the option/ product you have chosen on the Website. You undertake to pay the amount within the period specified in the proforma invoice. The fee is considered paid when its full amount is credited to our account. If you do not pay the amount on time, we are entitled to cancel your order. The Client accept that he will bear all fees charged to Client by the selected payment service provider (according to the valid pricelist of the payment service provider) in connection with the transaction and the Client is obliged to ensure that the respective fee for the selected option/ product is paid in full.

5. Client Section and Trading Platform

• a.

  Only one Client Section is allowed per Client and all of the Client’s Services must be maintained in the Client Section.

• b.

  We may limit the total number of Trading Challenges and Verifications per one Client Section depending on the total sum of the initial capital amounts of the products ordered by the Client or on the basis of other parameters. The initial capital amounts may not be transferred between the individual products or mutually combined. You may also not transfer or combine your performance, Service parameters, data, or any other information between the products.

• c.

  Your Access to the Client Section and Trading Platform is protected by login data. The Client’s login data should not be made available or shared by the Client with any third party. If the Client has registered as a legal entity, the Client may allow the use of the Services through the client’s Client Section to the authorized employees and representatives. You acknowledge and accept that you are responsible for all activities that are performed through the client’s Client Section and/or Trading Platform, the Company bears no responsibility, and the Client is not entitled to any compensation, for any misuse of the Client Section, Trading Platform, or any part of the Services. In addition, you accept that we are not responsible for any negative consequences thereof for you, if such misuse occurs for any reasons on your part or related to your use of the Services other than as set forth in this Agreement.

• d.

  You acknowledge that the Services may not be available 24/7, particularly with regards to maintenance, upgrades or for other reasons. We shall not be responsible for and you shall not be entitled to any compensation for the unavailability of the Client Section and/or the Trading Platform and for any damage or loss of data or other content that you upload, transfer or store via the Client Section and/or the Trading Platform.

• e.

  You may request the cancellation of the Client Section at any time by sending an e-mail to support@investingchallenges.com. You acknowledge that a request for the cancellation of the Client Section shall be considered as a request for termination of the contract between us, in which case you shall no longer be entitled to use the Services, including the Client Section and the Trading Platform. We shall immediately confirm the receipt of the request to you by e-mail, which shall terminate the contractual relationship between us. In such a case, you shall not be entitled to a refund of any fees already paid or any other costs otherwise incurred. Please note that the processing of data in this case is carried out in accordance with clause (2) of this Agreement and in accordance with our privacy policy.

6. Rules of Demo Trading

• a.

  During demo trading on the Company’s Trading Platform, you may execute all Transactions unless they involve Prohibited Trading Practices or prohibited strategies as provided in this Clause 6. In addition, you agree to comply with the standard market rules and practices for trading on the financial markets (e.g. risk management rules).You acknowledge and accept that other restrictions may also be imposed by the trading conditions of the Trading Platform you have selected for trading.

• b.

  You acknowledge and accept that we collect and process, in accordance with our privacy policy and applicable data protection laws and regulations, information about the Demo Trades that you execute on the Trading Platform. You consent that we disclose this information to our subsidiaries, affiliates, sub-contractor and their personnel, and you consent and authorize us and such persons/entities to process such information for the purpose of providing you with the Services, as they are provided or may be provided from time to time. You agree that these activities may be carried out automatically, without requiring any further consent or authorization from you. You also agree that you are not entitled to any compensation or revenue in connection with our use of the Data, as this term is defined in the Company’s Privacy Policy.

• c.

  The Company bears no responsibility for the information displayed on the Trading Platform, nor for any interruption of, or delay or inaccuracy in the market information displayed through the Client Section.

• d.

  Prohibited Trading Practices.

• During the demo trading, the following trading practices are prohibited:

• a.

  abusing any system deficiency or error is neither an ethical practice nor a viable trading strategy that we will endorse;

• b.

  knowingly or unknowingly using trading strategies to exploit errors in the Services, such as errors in displaying prices or delays in updating them;

• c.

  conducting business with an external or slow data feed;

• d.

  acting alone or in concert with others to engage in transactions or combinations of transactions designed to manipulate trading, such as by taking opposing positions at the same time;

• e.

  executing trades in violation with this Agreement and the trading platform;

• f.

  copying other traders’ strategies (copy trading);

• g.

  using software, artificial intelligence, ultra-high speed or bulk data entry that could manipulate, abuse or give you an unfair advantage in the use of the Company’s systems or services;

• h.

  performing gap trading by opening trade(s):

• i.

  when major global news, macroeconomic event or corporate reports or earnings (“events”), that might affect the relevant financial market are scheduled; and

• ii.

  2 hours or less before a relevant financial market is closed for 2 hours or longer, exploiting expected price gaps upon market reopening;

• i.

  otherwise performing trades in contradiction with how trading is actually performed in the forex market or in any other financial market, or in a way that established justified concerns that the Provider might suffer financial or other harm as a result of the Client’s gambling behavior such as:

• i.

  Overleveraging: large exposure that at any given time puts the account at very high risk of breaching its daily loss limit (and potentially even bigger losses due to gaps, slippages, execution limitations) especially during high volatility or upcoming high volatility due to news releases or other risk events, low liquidity or market breaks.

• ii.

  Concentration of Risk/ Overexposure: over-exposure on one or several different trading symbols for the sake of diversification can result to overleveraged portfolios that are in essence overexposed to the market risk of an identical potential outcome to all holdings (e.g. long traditional safe haven assets such as gold, Japanese yen and US dollar, and short equities/indices is one big bet on potentially the same direction in case an event or series of events trigger reactions in the respective markets).

• iii.

  One-sided bets: opening large exposure on one direction and potentially adding to this exposure while initial exposure is still running.

• iv.

  Account Rolling: purchasing multiple challenges with the intention to achieve funded status without prudent risk and money management and/or trading the same market direction that is potentially persisting against a trader’s selected direction until a reversal/correction comes about and trader achieves objectives on one or more of the challenge stages/verification stages they are attempting to complete.

• e.

  Specific Trading Conditions and Rules:

• In addition to the above, during demo trading on the Trading Platform, you may execute all your Transactions in accordance with the following trading conditions and rules:

• (i)

  Scalping is an acceptable practice as long as there is no abusive conduct (e.g. latency or off market prices abuse, hedging).

• (ii)

  There is no limitation on trades per day nor on the duration of any trade. Real market liquidity limitations will be taken into consideration in case we detect unrealistic results. Trading excessively and executing unrealistic volumes that would not be possible in the real market, particularly at the prices offered on virtual accounts which are not impacted by real market liquidity depth/trade sizes may lead to invalidation of the virtual account trading results.

• (iii)

  Inconsistency in trading sizes and risk management: Aiming to reach profit targets with unwarranted risk is not permissible behavior. Successful evaluation and any potential cooperation will depend on the consistency of all trading activity of the trader and not on one or two big risky trades or activity that resembles gambling practices.

• (iv)

  Averaging in and out of losing or winning positions can also result in an adverse valuation score and considered as gambling behavior.

• (v)

  One-sided bets are also considered an inconsistent trading approach and more like gambling behavior rather than the edge we are looking for in traders who are going to be approved for the funded stage where potentially part or all of their trading activity will be forwarded onto real funded accounts of the Company where real capital will be at risk.

• (vi)

  Suspicious trading patterns (e.g. trading during illiquid hours on symbols that derive pricing from alternative underlying markets due to unavailability of the principal underlying asset, or trading on off market prices, arbitrage on price skewing)

• (vii)

  Using any VPN/VPS on trading accounts is prohibited and could lead to account/s termination and nullifying of trading results.

• (viii)

  Engaging in trading activity or actions that are considered disruptive and/or unfair practices (including but not limited to insider dealing, spoofing, layering and in general any action intended to manipulate any market or trading system, system deficiencies, or any deficiency of any of our offerings and services).

• (ix)

  It may happen that some of the offered trading assets or the underlying exchange assets used to price the offered symbols, may hit upper or lower daily lock limits. Not complying with market lock-limits (limit up and limit down ranges) and engaging in trading that would not be possible in the real market is not permissible behavior and cannot be accounted for at any stage. For example, when a market is locked in limit up, it is due to the absence of supply and hence buy orders would not be filled, and vice versa.

• (x)

  Executing trades during potential errors in pricing, or latency abuse, or trading at any time outside the best bid or offer due to any technical or any other reason including but not limited to, protective spike filters, maximum spread protection settings or using any external or slow Data feed to perform trades.

• (xi)

  Trading excessively and generating unrealistic volumes that would not be possible to execute in the real market due to market depth/liquidity limitations. Such activity may be considered as a liquidity manipulation attempt that would not be able to be replicated in real markets and any results achieved this way on virtual account/s may be nullified.

• (xii)

  Engaging individually or in concert with other traders into trading activity intended to manipulate, abuse, or gain unfair advantage while using our services (e.g. entering into opposite positions at around the same time/prices, pool or otherwise hedge risk of any trading account/s it be connected or unconnected accounts that we may suspect are collaborating at any stage).

• (xiii)

  In collaboration with others or individually, knowingly or unknowingly, including between unconnected accounts and third parties, trading using the same trading strategy leading to similar or opposite exposures at similar time stamps resulting in hedging or pooling risk of one or several accounts (connected or unconnected).

• (xiv)

  Trading on behalf of others including but not limited to sharing any incentives as part of any arrangement or engaging in any trading activity which the Company may decide at its own discretion that such activity may in any way damage the Company.

• (xv)

  Circumventing geographical restrictions or engaging in other conduct which is considered uncommercial activity and/or is intended to circumvent our offering rules or otherwise considered as not a viable trading strategy.

• f.

  You understand and agree that all our Services are for Client’s personal use only. This means that only you personally can access your Trading Challenge and Verification Accounts and perform trades. As such, you should not, and you agree not to:

• a.

  allow access to and/or trading on your Trading Challenge and Verification Accounts by any third party nor you shall engage or cooperate with any third party in order to have such third party perform trades for you, whether such third party is a lay person or a professional;

• b.

  access any third-party Trading Challenge and Verification Accounts, trade on behalf of any third party or perform any account management or similar services, where you agree to trade, operate or manage the Trading Challenge and Verification Accounts on behalf of another user, all whether performed as a professional or otherwise.

• You acknowledge that if you do not comply with the aforesaid, we will consider such action/ behavior as a Prohibited Trading Practice under Section 6(d), with respective consequences in accordance with this Agreement.

• g.

  In addition, you shall not exploit the Services by performing trades without applying market standard risk management rules for trading on financial markets. For example, you should not engage in the following practices:

• i.

  opening substantially larger position sizes compared to Client’s other trades, whether on this or any other Client’s account; or

• ii.

  opening substantially smaller or larger number of positions compared to Client’s other trades, whether on this or any other Client’s account.

• The Company reserves the right to determine, at its own discretion, whether certain trades, practices, strategies, or situations are or should be deemed Prohibited Trading Practices.

• h.

  If the Client engages in any of the Prohibited Trading Practices described in clause 6(d), then:

• i.

  Such activity may be considered by the Company as the Client’s failure to meet the conditions of the particular Trading Challenge or Verification;

• ii.

  we may remove the transactions that violate the prohibition from the Client’s trading history and/or not count their results in the profits and/or losses achieved by the demo trading;

• iii.

  we may immediately terminate all Services provided to the Client and subsequently terminate this contract; or

• iv.

  we may take other remedial actions, for example, we may reduce the offered leverage on products to 1:5 on any or all Client’s accounts.

• i.

  In case where some or all Prohibited Trading Practices are executed on one or more Trading Challenge and Verification accounts of one Client, or accounts of various Clients, or by combining trading through the demo accounts of the same Client or on accounts of different Clients, then we will be entitled to terminate all Services and all respective contracts related to any and all Client’s Trading Challenge and Verification accounts and/or apply other measures in accordance with Clause 6(g). The Provider may exercise any of the actions in Clauses 6(g) at its own discretion.

• j.

  If the Trading Challenge and Verification accounts are used for or are involved in the Prohibited Trading Practices, this may also violate the respective terms and conditions for the third-party demo account and may result in cancellation of all such user accounts and termination of relevant agreements by the third-party provider.

• k.

  If the Client engages in any of the practices described in clause 6(d) repeatedly, and we have previously notified the Client accordingly, we may prevent the Client from accessing all or part of the Services, including access to the Client Section and Trading Platform, without any compensation. In such an event, the Client will not be entitled to a refund of any fees paid.

• l.

  We shall not be responsible for trading or other investment activities that the Client engages outside the relationship with us, e.g. by using data or other information from the Client Section, the Trading Platform or in any other way in connection with the services in real trading on the financial markets. This is also applicable in particular to any third-party services which the client uses via the Trading Platform – e.g. within the scope of webinars.

• m.

  The Client acknowledges and accepts that developments on the financial markets are subject to frequent and abrupt changes and that trading on the financial markets may not be profitable and may result in significant financial losses. In addition, the Client acknowledges that any past performance and profits of the Client in demo trading are not a guarantee or indication of future developments or developments in any real trading by the Client.

7. Trading Challenge (and Verification)

• a.

  Once the Client pays the fee for the selected Trading Challenge, the Client will receive access to the Trading Challenge The Challenge is activated at the moment when the Client has paid the corresponding fee for the offer and opened a first trade. In case the Client does not place a trade within 30 days, the Client’s Trading Challenge and Verification account will be archived. In such an event, the Client can reactive his/her account by sending a relevant request to support@investingchallenges.com.

• b.

  We shall evaluate the particular Trading Challenge as passed, if: (i) the Client has fulfilled the conditions of the Trading Challenge as specified in the particular Trading Challenge rules communicated on the Website; and (ii) the Client has not breached this Agreement, in particular the rules of demo trading according to Clause 6(d). We will not evaluate Trading Challenge if the Client has not closed all trades.

• c.

  In the event a Trading Challenge has 2 phases, the Client activates the Phase 2 by opening the first demo trade on the Trading Platform. If the client does not finish the first phase and activate phase 2 within 30 calendar days from the day he/she/they received the Trading Challenge login details, the Client will no longer have access to phase 2 and the Challenge shall be classified as incomplete without any obligation to refund the fee.

• d.

  If the Client fails to meet any of the conditions set forth in section 7, the Trading Challenge will be assessed as failed

8. Trader Account

• a.

  If the Client accomplish to meet all conditions of the Trading Challenge and Verification, the Client may be offered a contract by us, in our sole discretion to open a Trader Account with us. The rights and obligations of the Client and us in relation to this Trader Account will be governed by a separate Agreement.

9. Use of the Website, Services and other content

• a.

  The Website, any information provided in the Website and all Services, including, without limitation, the Client Section, their appearance and all applications, data, information, multimedia elements such as texts, drawings, graphics, design, icons, images, audio and video samples, and any other content that may form the Website and the Services (collectively as the “Content”), are our property or our licensors’ property. We grant you limited, non-exclusive, non-transferable, non-assignable, non-passable, and revocable permission to use the Content for the purpose of using the Services for your personal use and in accordance with the purpose for which the Services are provided. The Content is not sold or otherwise transferred to you and remains our or our licensors’ property.

• b.

  All trademarks, logos, trade names and other designations are our or our licensors’ property. You confirm and acknowledge that we and our licensors do not grant you permission to use them. Clients are not allowed to publish any of our or our licensor’s logo, trademark or trade name on their own marketplace.

• c.

  You undertake not to damage our good reputation and legitimate interests. You undertake to resolve any possible disagreements or disputes with us in accordance with this Agreement and the applicable law.

• d.

  The Provider does not grant you any other rights with respect to the Services and/or the Content, except for the rights expressly set forth in this Agreement. You may only use the Services and/or Content as set forth in this Agreement.

• e.

  When accessing the Services and/or the Content, the Client is prohibited from:

• i.

  using tools that may interfere with the operation of the Website and/or Services or that are designed to exploit errors, bugs or other inadequacies of the Website and/or the Services;

• ii.

  making copies or back-ups of the Website and/or the Content;

• iii.

  circumventing geographical restrictions of availability or any other technical restrictions;

• iv.

  selling, renting, lending, licensing, distributing, reproducing, spreading, streaming, broadcasting or using the Services and/or the Content otherwise than as permitted;

• v.

  modifying, decompiling, disassembling, or otherwise altering the Website and//or the Content;

• vi.

  using automated means to view, display or collect information available through the Website and/or the Services; and

• vii.

  using any other tools or means the use of which could cause any damage to the Provider.

• f.

  The provisions of clause 9 are not intended to deprive the Client of his consumer rights which cannot be excluded by law.

10. Disclaimer

• a.

  THE PROVIDER’S SERVERS ARE SECURED BY FIREWALLS. YOU ACKNOWLEDGE THAT THE SERVICES AND OTHER CONTENT ARE PROVIDED “AS IS” WITH ALL THEIR FAULTS, DEFECTS AND INADEQUACIES. YOU ACKNOWLEDGE THAT THE USE OF THE SERVICES IS AT YOUR SOLE RESPONSIBILITY AND RISK. WE DISCLAIM ALL WARRANTIES OF ANY KIND, STATUTORY, CONTRACTUAL, EXPRESS OR IMPLIED, TO THE FULLEST EXTENT PERMITTED BY THE MANDATORY LAW, INCLUDING ANY WARRANTIES OF QUALITY, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT OF ANY RIGHTS.

• b.

  In the event of a breach of material contractual obligations, We shall only be liable for the foreseeable damage typical for this Agreement if such damage was caused by gross negligence, unless the Client’s claims for damages are based on injury to life, body or health. The above limitations of liability shall also apply to our legal representatives and vicarious agents and affiliates, if claims are asserted directly against them.

• c.

  To the extent permitted by mandatory law, we shall not be liable for any damages, including indirect, incidental, special, punitive or consequential damages, including lost profits, lost data, personal or other non-monetary damages or property damage caused by the use of the Services or reliance on any tool, functionality, information or other content available in connection with the use of the Trading Platform or the Services and/or the Website.

• d.

  We are not responsible for any products, services, applications or other content of third parties that Client uses in connection with the Services.

• e.

  We reserve the right to modify, change, replace, add or remove elements and functions of the Services at any time and without compensation. Particularly, we reserve the right to block third party providers or remove their offer from the Website if we become aware of any infringements of the law.

• f.

  We shall not be responsible for failure to provide the purchased Services if such failure is due to serious technical or operational reasons which are beyond our control, or in case of crisis or impending crisis, riot, pandemic, natural disaster, war, threat to a large number of people or other force majeure events and/or if we are prevented from providing the Services due to legal obligations or a decision of a public authority.

• g.

  The provisions in clause 10 of this Agreement are not intended to deprive the Client of its consumer or other rights that cannot be excluded by law.

11. Breach of Terms and Conditions

• a.

  In case the Client breaches any provision of this Agreement and in particular:

• a.

  if the Client obtains access to the Services in conflict with clause 2(a) or 2(c);

• b.

  if the Client provides incomplete, untrue or non-updated information in conflict with clause 2 (b) or 3(b);

• c.

  if the Client acts in a manner that may damage our good reputation;

• d.

  if the Client violates the demo trading rules pursuant to clause 6;

• e.

  if the Client performs any of the activities referred to in clause 9(e).

• f.

  violates any applicable laws or regulations.

• We may terminate the relationship with the Client or prevent the Client from ordering any other Services and completely or partially restrict the Client’s access to all or some Services, including access to the Client Section and Trading Platform, without any prior notice and without any compensation.

12. Communication

• a.

  You acknowledge and accept that any communication on by us or our partners in relation with the provision of Services will take place through the Client Section and/or by email to the e-mail address that you register with us.

• b.

  Our contact e-mail address is support@investingchallenges.com.

• c.

  The contract language is English. Different language translations are only for the better understanding of foreign-speaking users. The Client accepts that the English version is the only legally binding version, and in the event of contradiction between the English version and any translation, the English version of this Agreement shall prevail.

13. Right to withdraw from a contract / Cancellation and refund

• a.

  The Client has the right to withdraw from this Agreement within 14 days without giving any reason. The revocation period is 14 days from the conclusion of this Agreement. To exercise your right of revocation, you must inform us by means of a clear statement (e.g. a letter sent by post or an e-mail) of your decision to withdraw from this Agreement.

• b.

  Your right of revocation/ withdrawal expires as soon as we have started the execution of this Agreement, unless you have expressly agreed that we should start the execution of this Agreement before the expiry of the revocation period and you have acknowledged that you thereby lose your right of revocation.

• PLEASE NOTE THAT YOU WILL LOSE YOUR RIGHT OF REVOCATION IF YOU BEGIN CONDUCTING DEMO TRADES PRIOR TO THE EXPIRATION OF THE SPECIFIED TIME PERIOD.

• a.

  If you revoke this Agreement, we shall reimburse you all payments we have received from you, without undue delay and no later than within fourteen days from the day on which we received the notification of your revocation of this Agreement. For this refund, we will use the same means of payment that you used for the original transaction, unless expressly agreed otherwise with you. You will not be charged any fees because of this refund. If you have requested that the services begin during the revocation period, you waive the right to request a refund.

• b.

  We are entitled to withdraw from this Agreement in the case of any breach by the Client specified in clause 11. The withdrawal has effect from the day of its delivery to the Client’s e-mail address and/or through the Client Section.

14. Changes and amendments

• a.

  We reserve the right to modify this Agreement or its terms relating to the Website and/or Services at any time, effective upon posting of an updated version of this Agreement on the Website. We will notify the Client of any change of this Agreement at least 7 days before the change in the Agreement is effective, via the Client Section and/or by e-mail.

• b.

  If the Client does not agree with the change, the Client has the right to reject it. If you reject the change, you shall immediately cease all use of the Website and Services, and you shall, no later than on the last business day before these changes take effect send a rejection notice to our e-mail address support@investingchallenges.com. The relationship between you and us will be terminated upon receiving such rejection. If the Client does not reject the change, it is considered that the Client agrees to the new version of the Agreement. The Client acknowledges and accepts that continued use of the Website and/or Services after any such changes shall constitute the Client’s consent to such changes.

• c.

  If the change concerns a new service or other additional functionalities or this change is solely to the Client’s advantage, we can inform the Client about this change less than 7 days before the effective date of such change, but no later than the day before its effectiveness.

15. Out-of-Court Settlement of Consumer Disputes

• a.

  Our objective is to keep customers satisfied with the Services; therefore, we are happy to resolve any complaints or suggestions directly with you, and you may contact us at our email address or at our address listed in clause 12(b) above.

• b.

  This section applies only to a consumer who is also a resident of the European Union.

16. Choice of Law and Jurisdiction

• a.

  You agree that the laws of the Republic of Cyprus shall govern any legal relations established by this Agreement or related to it, as well as any related non-contractual legal relations. To the extent permitted by applicable law, any dispute that may arise in connection with this Agreement and/or related agreements will fall within the jurisdiction of the Cyprus court having local jurisdiction according to the registered office of the Provider. We are also entitled to sue at the general place of jurisdiction of the Client.

• b.

  The provisions of clause 16(a) do not deprive the consumers of the protection afforded to them by the mandatory laws of the relevant member state of the European Union or any other jurisdiction.

17. Duration and Termination of Contract

• a.

  The contract is concluded for a definite period until the Trading Challenge or Verification is passed or failed in accordance with clause 7.

• b.

  The contract may be terminated by either party earlier in accordance with the provisions of this Agreement. The contract is terminated automatically and with immediate effect in case the Client during the Trading Challenge or Verification does not open at least one demo trade during a period of 30 consecutive days.

• c.

  Notwithstanding clause 17(b), the Provider may terminate this contract with cause and immediate effect when the provision of Services under contract would affect the ability of the Provider to comply with its legal obligations or orders or decisions of governmental bodies or other regulators.

• d.

  Either party may terminate this contract without cause by giving a written notice at least 7 days in advance, in accordance with clause 12 on the other Party.

18. Final Provisions

• a.

  This Agreement constitutes the complete terms and conditions agreed upon between the Client and us. This Agreement supersedes all prior agreements, whether oral or written, in relation to the subject matter hereof.

• b.

  Nothing in this Agreement is intended to limit any legal claims set out elsewhere in this Agreement or arising from the applicable law.

• c.

  You agree that we may transfer our rights and obligations under this Agreement or any agreement or parts thereof to a third party, without your consent. You are not authorized to transfer or assign the your rights and obligations under this Agreement or any agreements or parts thereof, or any receivables arising from them, in whole or in part, to any third party.

• d.

  The ineffectiveness or invalidity of one provision in this Agreement shall not affect the validity of the other provisions.

• e.

  The Appendices to this Agreement are integral parts of thisAgreement. In the event of a conflict between this Agreement and any Appendix thereof, the main text of this Agreement shall prevail.

• e.

  Prior to the mutual acceptance of this Agreement, the parties have carefully assessed the possible risks arising from them and accept those risks.

19. Definitions, Expressions and abbreviations used

• a.

  For the purposes of this Agreement, the following definitions shall have the following meanings:

• “Client Section” means the user interface located on the Website;
• “Content” means the Website and all Services, including the Client Section, their appearance and all applications, data, information, multimedia elements such as texts, drawings, graphics, design, icons, images, audio and video samples and other content that may form the Website and the Services (as set out in clause 9);
• “Client” means the user of the Services (as set out in clause 2);
• “Demo Trades” means the trades opened by the Client on the Client’s Trading Challenge and Verification Account
• “Free Trial” means the product/service where you may use some of the Services for a limited period and within a limited scope, free of charge
• “Trading Challenge and Verification Account” means demo trading accounts related to trading education courses provided as part of the Services by the Provider;
• “Trader account” means a trading account provided by the Company as per clause 8;
• “Prohibited Trading Practices” means trading practices strictly prohibited while using our Services and are more detailed in Section 6(d) of this Agreement;
• “Agreement” means these Terms and Conditions;
• “Appendices” means Appendix 1 and any other appendices as applicable, which are part of this Agreement;
• “Services” means the Provider’s services as set out in clause 3;
• “Trading Platform” means tools for simulated trading on various markets, accessed through an electronic interface provided by a third party in which the Client performs the demo trading and which includes foreign exchange rates, commodities, crypto currency rates, share rates and other indices; and
• “Verification” means the second phase of the Trading Challenge;
• “Website” means the website www.investingchallenges.com.

• b.

  For the purposes of Terms and Conditions and their Annexes, the following expressions and abbreviations shall have the following meanings:

• “calendar day” means the period from midnight to midnight of the time currently in effect in GMT +3;
• “initial capital” means a fictitious amount that the Client has chosen when selecting the option of the Trading Challenge and which the Client will use to perform demo trading;
• “EUR” means the euro;
• “USD” means the United States dollar;
• “GBP” means the British pound;
• “CAD” means the Canadian dollar;
• “AUD” means the Australian dollar;
• “NZD” means the New Zealand dollar; and
• “CHF” means the Swiss franc.