True Forex Funds User Agreement
This True Forex Funds Service User Agreement (hereafter referred to as “TFF Agreement” or “UA”) is a comprehensive document delineating the rights and obligations associated with the utilization of services offered by TFF International Kft (referred to as “the Services”) and/or CEC CyberEvent & Challenge FZCO, and/or True Forex Funds Ltd, primarily accessible through the www.trueforexfunds.com website (hereinafter “the Website”). This document demands careful perusal and understanding before usage. If you find any portion of these Terms disagreeable or unclear, the Services should not be utilized.
1. Foundational Terms
This TFF Agreement regulates your rights and obligations related to the use of the Services provided by either TFF International Kft, headquartered at Móricz Zsigmond rakpart 1/B. fszt. 14., 9022 Győr, Hungary (company registration number: 08 09 034894), and/or CEC CyberEvent & Challenge FZCO, located at Dubai Silicon Oasis, IFZA Business Park, DDP, Unit 34111-001 in Dubai, United Arab Emirates (company registration number DSO-FZCO-32098) and/or True Forex Funds Ltd, with company number 2023/C0145, license no: 2023/C0010-0011, offices at 40 Kennedy Avenue, Roseau, Dominica, licensed and regulated by the Financial Services Unit in accordance and Pursuant to Schedule III, Part 7, of the Financial Services Unit Act, No 18 of 2008 and the Companies Act No 221 of 1994.
Through registration on the Website or by first using the Services, you enter into a binding agreement with the Provider, wherein the subject is the provision of your selected Services. This TFF Agreement forms an essential part of such a contract. The actual provider will be determined by the providers, and through the full lifecycle of the purchase, that party will remain the contractual party on the provider side. The Providers jointly manage the operation of the Website, and the determination of which entity serves any given user will be at their sole discretion, based on a variety of relevant factors.
The Services target individuals who are over 18 years old and reside in countries where the Services are offered. By registering, you confirm that you meet these age and residency requirements. If you do not, you are prohibited from using the Services.
The Providers will not extend Services to any customer who is a national or resident of Restricted Jurisdictions, is established or incorporated in such jurisdictions, is under international sanctions, or has a criminal record related to financial crime or terrorism. The Providers reserve the right to refuse service at their discretion, as outlined in this clause.
The Services encompass a range of tools for demo and simulated trading activities in the FOREX market and other financial markets, including analytical tools, educational materials, and access to a dedicated Client Area. It’s understood that all trading activities are purely hypothetical, with no actual financial transactions or entitlement to real funds.
The services rendered do not qualify as investment services under applicable laws. The Providers neither impart nor accept any form of guidance, instructions, or investment-related information. It is emphasized that none of the services should be interpreted as investment advice or recommendations. Any information provided by employees, staff, or representatives of the Providers should not be misconstrued as such.
All definitions, terms, and abbreviations used within this UA are clarified and explained in detail in clause 18.
2. Service Provision and Request Procedure
Service requests can be made via the Website, requiring the completion of a registration or order form. Post-registration, verification emails containing login credentials for the Trading Platform will be sent.
The array of Services includes, but is not limited to, Free Trials, Evaluation Process Phases I and II, Instant Accounts, various Funding Phases, and Funded Programs. Each service offering may differ in scope, such as the range of analytical tools available to the Customer.
It is incumbent upon you to provide complete, accurate, and up-to-date information during the registration process and within the Client Area. Any changes to your data should be promptly communicated to the Providers.
The provision of identification, tax registration numbers, or the declaration of status as a legal entity will result in you being treated as an entrepreneur under these UAs, thus exempting you from certain consumer rights provisions.
Fees for the Evaluation Process are subject to variation based on the selected options, as detailed on the Website. The Provider also reserves the right to offer Services under individually negotiated terms, which may include unique discounts and benefits.
Fees for the Evaluation Process are non-refundable under circumstances such as early termination, failure to complete the Evaluation Phases, or violation of these UAs.
Lodging baseless complaints about fees or disputing charges with banks or payment providers can result in the cessation of service provision.
The choice made during the initial Evaluation Process will be applicable to subsequent Phases, with no possibility of alteration post-selection.
The Provider holds the authority to modify fees and service parameters at any time. Such changes will not affect Services already purchased prior to the notification of changes.
Data inputted in the order form is subject to review, correction, and amendment until the finalization of the binding order. The order is considered official upon the submission of the order form, with immediate confirmation sent to your registered email address.
Trading platforms are operated by entities separate from the Provider, and their respective terms and policies will apply when utilizing their services. It is your responsibility to familiarize yourself with these terms and policies.
The Provider may intervene in instances of excessively frequent service orders over a short period, particularly if these actions are associated with Forbidden Trading Practices.
The Service includes third-party links and advertisements, over which the Providers have no control. Usage of these third-party resources is at your own risk and discretion. Any transactions made with third-party advertisers through the True Forex Funds Website are solely between you and the advertiser.
3. Fiscal Terms and Conditions
All fees for the Evaluation Process are denominated in Euros. Payments made in other currencies will be converted according to the current exchange rates provided by the bank of the card issuer at the time of transaction.
Service charges are comprehensive of all applicable taxes. Entrepreneurs are obliged to fulfill their tax liabilities concerning the use of these Services.
Fees for the selected Evaluation Process options can be paid via payment card or through the crypto payment methods offered on the Website.
Payments via card or crypto must be executed immediately. Successful payments will be followed by an automatically generated electronic invoice, detailing the fee amount for the selected Evaluation Process. The fee is deemed paid once the full amount is credited to the Provider’s account.
4. Client Area and Trading Platform Usage
Each Customer is allowed only one Client Area, and all Services must be centralized within this area. Detection of multiple accounts may lead to cancellation of registrations, for which the Provider holds no liability for any consequential losses.
The aggregate number of Evaluation Processes per Client Area might be restricted based on the sum of initial capitals ordered or other criteria. Transfers or combinations of initial capitals or performance metrics across different products are generally prohibited, barring exceptions granted by the Provider.
Client Area and Trading Platform access are secured by login credentials, which must not be disclosed to third parties. The Customer assumes full responsibility for all activities conducted through their Client Area or Trading Platform. The Provider disclaims liability for misuse or any resultant negative impacts if such misuse arises due to Customer actions.
Service availability might be intermittent due to maintenance, upgrades, or other factors. The Provider is not liable for any unavailability or for any data loss or damage occurring through the Client Area or Trading Platform.
Customers may request Client Area cancellation via email to email@example.com. Such requests signify a desire to terminate the contract, ceasing the Customer’s right to the Services. The Provider will confirm the request via email, thereby concluding the contractual relationship. In this scenario, the Customer forfeits any right to refunds of fees or incurred costs.
5. Rules of Demo and Simulated Trading
In demo and simulated trading, Customers are free to conduct transactions, barring those categorized as forbidden trading strategies or practices as detailed in clause 5.4. Compliance with standard market rules and trading platform conditions is expected.
The Provider has access to information regarding demo and simulated trades, which may be shared with affiliated entities. The Customer consents to such sharing and handling of information without need for further approval. It is recognized that such activities do not constitute investment advice or recommendations.
The Provider is not accountable for the accuracy or reliability of information displayed on the Trading Platform, nor for any disruptions or inaccuracies therein.
Forbidden Trading Practices: Customers are prohibited from engaging in practices such as exploiting service errors, using external or delayed data feeds, manipulative trades, contradictory trading practices, or any actions that could financially harm the Provider.
Engaging in Forbidden Trading Practices may lead to failure in the Evaluation Process, removal of violating transactions, service termination, or leverage reduction.
Detection of Forbidden Trading Practices across multiple accounts or phases may result in comprehensive service cancellation and contract termination.
Involvement in Forbidden Trading Practices with Funded Program accounts may breach terms with third-party providers, risking account cancellation and agreement termination.
Repeated engagement in forbidden practices can lead to denial of service access, including the Client Area and Trading Platform, with no compensation or fee refund.
Financial market volatility may result in unprofitable trading and is not indicative of future performance.
6. Evaluation Process Phases I and II
Upon fee payment, Customers receive Trading Platform login details. The Evaluation Process is activated by initiating the first trade. Consumers acknowledge that this activation affects withdrawal rights as outlined in clause 12. Inactivity or non-activation within specified periods can lead to termination of access.
Fulfilling Evaluation Phase I conditions necessitates meeting specified parameters, detailed in the Client Area.
Success in Phase I leads to Phase II access. Evaluation requests can be made, but all trades must be closed for evaluation to proceed.
Activation and inactivity rules for Phase II mirror those of Phase I, with specific timelines for access suspension and renewal requests.
Phase II success criteria encompass fulfilling website-listed parameters.
Meeting Phase II conditions involves compliance with website criteria and adherence to UA rules. Successful evaluation may lead to Funded Program candidacy.
Failure to meet Phase II conditions results in access denial to subsequent programs, with no provision for fee refunds. However, the option to purchase new evaluation challenges remains open and unrestricted.
Candidacy for the Funded Program does not guarantee acceptance. The Provider is not liable for any rejections by the Funded Program.
7. Funded Program
Successful completion of Evaluation Phases I and II may lead to a third-party contract offer for the Funded Program. This agreement is strictly between the Customer and the third-party, independent of the Providers. Sharing of personal data with third-parties is part of the contract consideration process. Until a formal agreement is established, all “funded” accounts and trades remain simulated and fictitious. Providers may, at their discretion, offer payouts to Customers excelling in Evaluation Phases as recognition of their simulated trading achievements. This commission is a discretionary gesture and not a guaranteed entitlement.
8. Website, Services, and Other Content Utilization
The Website, Services (including the Client Area), and all related content, such as applications, data, multimedia elements like texts, graphics, icons, audio and video, are legally protected properties of the Provider or its licensors. The Provider authorizes you to use this content on a limited, non-transferable, revocable basis for personal use, in line with the intended purpose of the Services. Ownership of the content remains with the Provider or its licensors.
Trademarks, logos, and other proprietary markers belong to the Provider or its licensors, and no rights for their use are granted to you.
Both the Customer and the Provider commit to uphold principles of fair dealing, ensuring not to harm each other’s reputation or interests. Any disputes will be resolved according to these UAs and applicable laws.
Rights not explicitly granted in these UAs are reserved by the Provider. The Services and other Content must be used strictly as outlined in these UAs.
Prohibited actions when accessing Services and Content include:
- Utilizing tools that negatively impact the Website and Services or exploit errors.
- Circumventing geographical or other technical restrictions.
- Copying or backing up the Website and other Content.
- Reverse-engineering or modifying the Website and other Content.
- Unauthorized selling, renting, distributing, or using the Services and Content.
- Using automated means to collect information from the Website or Services.
- Engaging in actions that could damage the Provider.
This clause is not intended to limit the consumer rights that cannot be legally excluded.
The True Forex Fund website is operated by CEC CyberEvent and Challenge FZCO, the sole proprietor of all rights and authorizations necessary for its operation, fully responsible for ensuring the accuracy and authenticity of the website’s content. Additionally, the website may occasionally feature comparative data, which includes results achieved and publicly disclosed by other companies engaged in similar activities. The inclusion of this comparative data is intended solely to provide users with independent and factual information, aiding them in making informed decisions.
The Services and Content are provided “as is,” with inherent errors and deficiencies. Usage is at your sole risk and responsibility. The Provider disclaims all warranties to the maximum extent permitted by law, including quality, fitness for a particular purpose, and non-infringement.
The Provider is not liable for any indirect, incidental, special, punitive, or consequential damages arising from the use of the Services or reliance on any tool or information available on the Website. Liability for any losses incurred is limited to the fee paid by the Customer for the Services in question.
The Provider may change, replace, or remove elements of the Services at any time without compensation.
The Provider is not liable for failure to provide Services due to technical issues, natural disasters, crises, or other force majeure events, or legal or authoritative obligations.
Clause 9 does not intend to deprive the Customer of any non-excludable legal rights.
10. Violation of the UA
Violations of these UAs that cause harm to the Provider, including unauthorized access to Services, provision of false information, damage to reputation, violation of trading rules, or engaging in prohibited activities under clause 8.5, may result in restriction or complete termination of the Customer’s access to Services, without notice or compensation.
All communications from the Provider or partners regarding Services will be via the Client Area or your registered email. Electronic communication is considered as written communication.
Our contact details are firstname.lastname@example.org.
12. Contract Withdrawal Rights
As a consumer, you have the right to withdraw from a contract within 14 days of execution. Starting demo trades before this period ends forfeits this right.
Withdrawal requests must be sent to our email within the specified period. We will process refunds of received fees within 14 days of withdrawal.
The Provider may immediately withdraw from the Contract in case of Customer breaches outlined in Clause 10.
13. Defective Performances
Rights for defective performance apply if Services are not as agreed. No quality guarantees are provided. Defect notifications must be made promptly.
Complaints will be resolved within 30 calendar days. Untimely resolution grants you the right to contract withdrawal. Complaints can be filed via email.
14. UA Changes
The Provider may change these UAs at any time, with immediate effect for new customers and orders. Existing customers will be notified via the Client Area or email. Evaluation Phases are governed by the UA version effective at the time of order.
15. Out-of-Court Consumer Dispute Settlement
15.1. We aim for customer satisfaction and are open to resolving complaints directly. Contact us at our email or address listed in clause 11.2.
16. Choice of Law and Jurisdiction
Legal relations under these UAs are governed by Hungarian, DIFC, and the Dominican law, with jurisdiction lying with Hungarian courts, the DIFC Court or the courts of Dominica, according to the Provider’s office location.
Clause 16.1 does not deprive consumers of protection under their respective jurisdiction’s laws.
17. Final Provisions
The Provider has not adopted any consumer codes of conduct.
These UAs constitute the complete agreement between you and the Provider, superseding all prior agreements.
Nothing in these UAs limits legal claims under applicable law or these UAs.
The Provider may assign claims or transfer rights and obligations under these UAs to third parties. The Customer cannot transfer rights, obligations, or receivables without consent.
Invalid or ineffective UA provisions will be replaced with valid ones. The invalidity of one provision does not affect the others.
Schedules to these UAs are integral parts. In case of conflict, the main text prevails.
The parties accept the risks assessed prior to accepting these UAs.
18. Definitions and Abbreviations
- “Client Area” as the user interface on the Website.
- “Content” as detailed in clause 8.1.
- “Customer” as the user of Services.
- “Evaluation Process, Phase I and II account” as related trading accounts.
- “Funded Program” as provided by third-party providers.
- “calendar day” as midnight to midnight Central European (Summer) Time.
- “initial capital” as the fictitious amount chosen for demo trading.
- “EUR” as the Euro.
Effective Date: January 12, 2024.