Terms and Conditions

These Terms and Conditions (the “Agreement”) govern rights and obligations in connection with the use of services provided by Ultimate Traders Evaluation Ltd, a company registered in the United Kingdom with registration number 14665391 (“we”, “our”, the “Company” or “Ultimate Traders”), offered mainly through the website www.ultimatetraders.com (the “Website”).

The Agreement is legally binding to clients (“you”, “your”, or the “Customer”) and you are under no obligation to use the Services if you do not agree or understand any portion of the Agreement, nor should you use the Services unless you understand and consent to the Agreement.
The relationship between the Customer and the Company shall be governed by this Agreement. As this Agreement is a distance contract, it is amongst others, governed by the Distance Marketing of Consumer Financial Services Law 242(I)/2004 (as amended) implementing the EU Directive 2002/65/EC which does not require the Agreement to be physically signed by either the Client or the Company in order for both parties to be legally bound by it. This Agreement may be electronically executed online by clicking the designated acceptance button and this Agreement has the same legal effect and confers the same legal rights upon the parties as if it had been signed.
This Agreement may be amended from time to time and the Customer agrees to regularly check the Website for the updated Agreement. In the event the Company replaces, modifies, or amends this Agreement, your continued use of the Services after a change in the Effective Date of said changes will constitute your agreement to any replacement, modification, or amendment to this Agreement.

1. INTRODUCTION

1.1. This Agreement governs your rights and obligations in connection with the use of the services provided by the Company (“Services”).

1.2. By registering on the Website or when you use our Services for the first time, you are entering into a contract with the Company, the subject of which is the provision of the Services of your choice. The Agreement forms an integral part of such a contract and, by entering the contract with the Company, you consent to the Agreement.

1.3. By registering on the Website, you represent, warrant, covenant and undertake to the Company that:

1.3.1. You are authorized and have the capacity to enter into this Agreement and any transactions which may arise under them;

1.3.2. You are over 18 years of age and of sound mind. If you are under 18 years of age, you may not use the Services.

1.3.3. You access the Services solely from one of the countries for which the Services are available. You acknowledge that your access to and use of the Services may be restricted or prohibited by law in some countries, and you undertake to only access and use the Services in accordance with applicable laws and regulations.

1.3.4. You are aware of the laws and regulations in regards to being allowed to enter into this Agreement and the information that you provide during the registration process as well as in any other documentation is complete, true and accurate. For any change or amendment in the above-mentioned information, including change of address, you remain responsible to notify the Company;

1.4. The Customer shall not use the Services of the Company in case:

1.4.1. you are residing in Restricted Jurisdictions;

1.4.2. you are established or incorporated, or have a registered office in Restricted Jurisdictions;

1.4.3. you are subject to the relevant international sanctions; or

1.4.4. have a criminal record related to financial crime or terrorism.
The Company reserves the right to refuse, restrict or terminate the provision of any Services to Customer found to have acted against Clause 1.4 and Customer will be prohibited to use the Services, the Client Area and/or Trading Platform.

1.5. Your personal data is processed in accordance with the Privacy Policy published on the Website.

1.6. The meaning of the definitions, expressions, and abbreviations used in this Agreement can be found in clause 20.

2. SERVICES AND THEIR ORDER

2.1. The Services consist of the provision of tools for simulated trading on all other instruments on the financial markets, provision of analytical tools, training and educational materials, the access to the Client Area, and other ancillary services, in particular through the Client Area or by the provision of access to applications provided by the Company or third parties. Financial market information is used in the simulated trading; however, you acknowledge that any trading that you perform through the Services is not real.

2.2. The Services can be placed through the Website by completing the appropriate registration and/or order form. After registration, we will e-mail you the login details for the Client Area and/or Trading Platform and allow you to access them.

2.3. The Services include, among other things, the Free Trial, Ultimate Traders Challenge (choice between a one-step (“Speedy”) and a two-step (“Classic”) Evaluation Process); these products may differ in the scope of the Services provided (e.g., by analytical tools available to the Customer). Each product offered are available for completion by you for a period of twelve (12) months. With the Free Trial, you may use some of the Services within a limited scope. Completing the Free Trial does not entitle you to access any other Services.

2.4. All data that you provide to us through the registration or order form, the Client Area, or otherwise must be complete, true, and up to date. You must immediately notify us of any change in your data or update the data in your Client Area. The Customer is responsible for all the provided data being accurate and up to date; the Company is not obligated to verify the data.

2.5. You acknowledge that if you provide an identification number, tax registration number or other similar information in the registration or order form or in the Client Area, or if you state that you are a legal entity, you will be considered as an entrepreneur (trader) for the purposes of the Agreement and when using the Services, and the provisions of the Agreement or the applicable law that grant rights to consumers will not apply to you.

2.6. The fee for the Ultimate Traders Challenge varies according to the option or customization selected and depends on the amount of the Initial Capital, the degree of the acceptable risk, the parameters that must be fulfilled so that the conditions of the Ultimate Traders Challenge (if the Classic Evaluation process is selected) are met, and possibly other configurations. More detailed information on individual options and fees for those options are provided on our Website. The final fee will be determined based on the option you select when completing the form for ordering the Ultimate Traders Challenge.

2.7. The fee paid allows you to access the Ultimate Traders Challenge or the Services provided under the Ultimate Traders Challenge. The Customer is not entitled to request a refund of the fee, for example, if the Customer cancels the Customer’s Client Area or requests the cancellation by e-mail, if the Customer terminates the use of the Services prematurely (for example, fails to complete the Ultimate Traders Challenge), fails to meet the conditions of the Ultimate Traders Challenge, or breaches terms of this Agreement.

2.8. If the Customer lodges an unjustifiable complaint regarding the paid fee or disputes the paid fee with the Customer’s bank or payment service Company (e.g. through chargeback services, dispute services, or other similar services), on the basis of which an annulment, cancellation or refund of the fee or any part thereof is requested, the Company is entitled, at its own discretion, to terminate the Customer any services and refuse any future Services.

2.9. If the Customer orders the “Classic” package, the conditions that are applicable in Phase 1 shall also be applicable in Phase 2. Once you make the selection, it is not possible to change it.

2.10. The Company reserves the right to unilaterally amend at its discretion the fees and parameters and provisions of the Services at any time, including but not limited to, the parameters for their successful completion. The amendment does not apply to the Services purchased before the change is effected.

2.11. Any data entered in the order form can be checked, corrected, and amended until the binding order of the Services. The order of the Services of your choice is made by submitting the order form. The Company will immediately confirm the receipt of your order 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 Ultimate Traders Challenge, the order is completed upon the payment of the fee for the selected option. Once the contract between you and the Company is executed and if the conditions of the Ultimate Traders Challenge are met, Phase 2 will be triggered. The Client accepts and understands that the Company’s official language on the contract is the English language.

2.12. You acknowledge the following:

2.12.1. The funds provided to you for demo trading are fictitious and that you have no right to possess those fictitious funds beyond the scope of their use within the Services, and in particular that they may not be used for any actual trading and that you are not entitled to the payment of those funds. Unless expressly agreed otherwise, you will not be paid any remuneration or profits based on the results of your simulated trading, nor will you be required to pay any losses.

2.12.2. The Services offered by the Company do not constitute the provision of investment advice or recommendations. Each decision made by the Customer when using the Services or otherwise is an independent decision by the Customer. The Company is not acting as an advisor to, or serving as a fiduciary of the Customer and the Company specifically disclaims any such duties.

2.12.3. In order to be able to use our 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 Website is accessible from the most commonly used web browsers. The internet access, purchase of the equipment, and purchase of the web browser and its updates are at your own risk and expense. The Company does not warrant or guarantee that the Services will be compatible with any specific equipment or software. The Company does not charge any additional fees for the internet connection.

2.12.4. The operators of trading platforms are persons or entities different from the Company and that their own terms and conditions and privacy policies will apply when you use their services and products. Before sending an order form, you are obligated to read those terms and conditions and privacy policies.

2.13. None of the services provided to you by the Company can be considered as investment services within the meaning of the applicable laws. The Company does not provide guidance, advice, instructions, or any other ancillary information about how you should perform transactions when using the Services or otherwise, or any information relating to the investment tools traded.

2.14. If the Customer places an unusually large number of orders while using the Services within an unreasonably short period of time, the Company may notify the Customer through the Client Area as a protective precaution to mitigate potentially harmful behaviour of the Customer. If such unreasonable behaviour continues following such notice, we reserve the right to suspend any further orders of the Services by the Customer. If we identify that the unusual behaviour as per this paragraph relates to the Customer’s involvement in Forbidden Trading Practices, we may take respective actions as perceived in Section 7 of this Agreement. The Company reserves the right to determine, at its own discretion, the nature of the behaviour described above and reasonable boundaries for such determination.

3. PAYMENT TERMS

3.1. The amounts of fees for the Ultimate Traders Challenge options are in US dollars. The fee can also be paid in other currencies at the choice of the Customer provided that the Company approves such currency. If you select any other currency than the US dollar, the amount of the fee for the selected option of the Ultimate Traders Challenge shall be converted by our rates and it will automatically display your payment total in your chosen currency, so you know how much you are paying before you confirm the order. The Customer acknowledges that if the payment is made in a currency other than the one the Customer has chosen on the Website, the amount will be converted according to the current exchange rates valid at the time of payment. The conversion shall be made at the exchange rate applied on the day and at the time when the relevant funds are at the disposal of the Company.

3.2. Fees for the Services and any other charges that could arise are exclusive of all taxes and will be applied on checkout, if any. If the Customer is an entrepreneur (trader), he is obliged to fulfill all his tax obligations in connection with the use of our Services in accordance with applicable law, and in the event of an obligation, he is obliged to pay tax or other fees properly. The Company is not responsible for paying the Customer’s tax obligations in relation to possible income tax or similar taxes imposed on the Customer by your jurisdiction on profits and/or for using our Services.

3.3. Subject to clause 3.1, you can pay the fee for the selected option of the Ultimate Traders Challenge by a payment card, via a bank transfer, or using other means of payment that the Company currently accepts.

3.4. In the event of payment by a payment card or via any other express payment method, the payment shall be made immediately. The fee is considered paid when its full amount is credited to the Company’s account. If you do not pay the amount on time, the Company is entitled to cancel your order. The Customer bears all fees charged to Customer by the selected payment service company (according to the valid pricelist of the payment service company) in connection with the transaction and the Customer is obliged to ensure that the respective fee for the selected Ultimate Traders Challenge is paid in full.

4. CLIENT AREA AND TRADING PLATFORM

4.1. There are no limits on the number of Challenges a Customer can purchase. The Customer further understands that only one Challenge can be active simultaneously.

4.2. The total number of Ultimate Traders Challenges per one Client Area may be limited depending on the total sum of the Initial Capital amounts of the products ordered by the Customer or on the basis of other parameters. Unless agreed otherwise, 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.

4.3. Access to the Client Area and Trading Platform is protected by login data, which the Customer may not make available or share with any third party. If the Customer has registered as a legal entity, the Customer may allow the use of the Services through the Customer’s Client Area to the authorized employees and representatives. The Customer shall take all necessary precautions to ensure confidentiality of all information, including but not limited to, the login data, all activities performed through the Customer’s Client Area or Trading Platform.

4.4. The Customer acknowledges that the Company bears no responsibility, and the Customer is not entitled to any compensation, in the case that the login data are used in an unauthorized manner by any third party, for any misuse of the Client Area, Trading Platform, or any part of the Services, nor is the Company responsible for any negative consequences thereof for the Customer, if such misuse occurs for any reasons on the part of the Customer.

4.5. The Customer undertakes to notify the Company immediately if it comes to your attention that the Customer’s login data to the Customer’s Area are being used unauthorized or in breach of the terms set forth in this Agreement.

5. CUSTOMER’S RIGHT TO CANCEL

5.1. The Customer may at any time request cancellation of the Client Area by sending an e-mail to support@ultimatetraders.com. During a request for cancellation, the Company will consider it as a request for termination of the contract by the Customer and the Customer will no longer be entitled to use the Services, including the Client Area and Trading Platform. Following such notice, the Company will confirm receipt of the cancellation request to the Customer by e-mail and the contractual relationship between the Customer and the Company will be terminated. In such a case, the Customer is not entitled to any refund of the fees already paid or costs otherwise incurred.

5.2. 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 your Client Area.

6. RULES OF DEMO TRADING

6.1. During the demo trading on the Trading Platform, you may perform any transactions, unless these constitute forbidden trading strategies or violation of trading rules within the meaning of clauses 7 and 8. The Customer agrees to not use the Services, Trading Platform or the Client Area for or in connection with any activity which may constitute fraudulent or illegal. The Customer undertakes to follow good market standard rules and practices for trading on financial markets (e.g. risk management rules). Restrictions may also be imposed by the trading conditions of the Trading Platform that you have selected for trading.

6.2. You acknowledge that the Company has access to information about the demo trades that you perform on the Trading Platform. You grant the Company your consent to share this information with persons/entities who are in the same group with the Company or who are otherwise affiliated with the Company, and you grant the Company and these persons/entities your consent and authorization to handle this information at their own discretion to provide the Services. You agree that these activities may be performed automatically without any further consent, consultation, or approval. The Company is aware that you should not provide the Company with any investment advice or recommendations through your demo trading. You acknowledge that you may suspend your demo trading on the Trading Platform at any time by sending an email to support@ultimatetraders.com.

6.3. Developments in financial markets are subject to frequent and abrupt changes. Trading on financial markets may not be profitable and can lead to significant financial losses. Any previous performances and profits of the customer’s demo trading are not guaranteed or indication of any further performance.

7. FORBIDDEN TRADING PRACTICES

7.1. During the Demo Trading, it is prohibited to:

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

7.1.2. Execute trades using an external or slow data feed;

7.1.3. Perform, alone or in concert with any other persons, including between connected accounts, or accounts held with different entities, trades or combination of trades with the intention to manipulate trading, e.g. by simultaneously entering into opposite positions;

7.1.4. Execute trades contrary to the Agreement and the Trading Platform;

7.1.5. Use any Software, artificial intelligence, ultra-high speed, or mass data entry which might manipulate, abuse, or give you an unfair advantage when using our systems or Services;

7.1.6. Perform gap trading by opening trade(s):

(a) When major global news, macroeconomic event or corporate reports or earnings (“Events”) that might affect the relevant financial market (i.e. market that allows trading of financial instruments that might be affected by the Events), are scheduled; and

(b) 2 hours or less before a relevant financial market is closed for 2 hours or longer.

7.1.7. Execute trades contrary to how trading is actually performed in the foreign exchange market or in any other financial market, or in a way that creates justified concerns that the Company might suffer financial or other damage as a result of the Customer’s activities (e.g. overleveraging, overexposure, one-sided bets, account rolling).

7.1.8. Our Services are for the Customer’s personal use only, meaning that only you personally can access your Ultimate Traders Challenge accounts and perform trades. For that reason, you agree not to:

(a) allow access to and trading on your Ultimate Traders Challenge 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 private person or a professional;

(b) access any third-party Ultimate Traders Challenge 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 Ultimate Traders Challenge accounts on behalf of another user, all whether performed as a professional or otherwise.
(collectively referred to as the “Forbidden Trading Practice”)

Please note that if you act or behave in contradiction with the aforesaid, we will consider such action as a Forbidden Trading Practice under Section 7 with respective consequences as perceived under these Agreement.

7.1.9. The Customer shall not exploit the Services by performing trades without applying market standard risk management rules for trading on financial markets, this includes, among others, the following practices (i) opening substantially larger position sizes compared to Customer’s other trades, whether on this or any other Customer’s account, or (ii) opening substantially smaller or larger number of positions compared to Customer’s other trades, whether on this or any other Customer’s account.

Following investigation, the Company reserves the right to examine and determine, at its own discretion, whether certain trades, practices, strategies, or situations are Forbidden Trading Practices.

7.2. If the Customer engages in any of the Forbidden Trading Practice described in clause 7.1, the Company may consider it as a failure to meet the conditions of the particular Ultimate Traders Challenge and in breach of the terms of this Agreement. In such cases, the Company may without notice:

7.2.1. remove the transactions that violate the prohibition from the Customer’s trading history and/or not count their results in the profits and/or losses achieved by the demo trading,

7.2.2. immediately cancel all Services provided to the Customer and subsequently terminate this Agreement, and/or

7.2.3. reduce the offered leverage on products on any or all Customer’s accounts.

7.3. In case when some or all Forbidden Trading Practices are executed on one or more Ultimate Traders Challenge and accounts of one Customer, or accounts of various Customers, or by combining trading through Ultimate Traders Challenge accounts and Ultimate Traders Trader accounts, then the Company reserves the right to:

7.3.1. cancel all Services and terminate all respective contracts related to any and all Customer’s Ultimate Traders Challenge accounts and/or apply other measures in Clause 7.2. The Company may exercise any and all actions in Clauses 7.2. and 7.3 at its own discretion.

7.4. If any Ultimate Traders accounts were used for or were involved in the Forbidden Trading Practices, this will constitute a breach of the respective terms of this Agreement for Ultimate Traders account with third-party Company and may result in cancellation of all such user accounts and termination of respective agreements by the third-party Company.

7.5. If the Customer engages in any of the practices described in clause 7.1repeatedly, and the Company has previously notified the Customer thereof, the Company may restrict the Customer from accessing all Services or their parts, including access to the Client Area and Trading Platform, without any compensation. In such a case, the Customer is not entitled to a refund of the Fees paid.

7.6. The Company does not bear any responsibility for trading or other investment activities performed by the Customer outside the relationship with the Company, for example by using data or other information from the Client Area, Trading Platform, or otherwise related to the Services in real trading on financial markets, not even if the Customer uses for such trading the same Trading Platform that the Customer uses for demo trading.

8. VIOLATION OF TRADING RULES

8.1. Subject to clause 7, the Customer shall not:

8.1.1. open more than one account with the Company,

8.1.2. Attempt or engage in news-based trading strategies without purchasing the relevant add-on during checkout,

8.1.3. Deviate from the rules and policies of the Company set out on the Website,

8.1.4. Engage in any other act that could reasonably be considered a breach of this Agreement.

8.2. In the event that the Customer is found to have engaged in any of the violations described in this Clause 8, the Company shall notify the Customer of such violations via email, instructing the Customer to cease the infringing activity. Should the violation persist, the Customer’s account will be suspended for a period of 24 hours. If the Customer continues to breach the rules following the suspension, the Company reserves the right to terminate the Customer’s account.

9. CLASSIC CHALLENGE

9.1. After paying the fee for the selected or customized option of the Ultimate Traders Challenge, the Customer will receive the relevant login data for the Trading Platform at the e-mail address provided by the Customer or in the Client Area. The Customer can activate the Ultimate Traders Challenge by opening the first demo trade in the Trading Platform.

9.2. If you are a consumer, you acknowledge that, by opening the first demo trade, you expressly demand the Company to provide the Services before the expiration of the period for withdrawal from the contract, which waives your right to withdraw from the contract, as specified in detail in clause 15.

9.3. The Ultimate Traders Challenge lasts for 30 calendar days from the date of its activation. If you do not activate the Ultimate Traders Challenge within 30 calendar days of the date on which it was made available to you, your access to it will be suspended. You can request the renewal of access via the Client Area or by sending an e-mail to support@ultimatetraders.com within 90 calendar days of the initial suspension, otherwise we will terminate the provision of the Services without any right to request a refund.

9.4. PHASE 1 – ULTIMATE TRADERS CHALLENGE

9.4.1. In order for the Customer to meet the conditions of the Ultimate Traders Challenge – Phase 1, the Customer must fulfill all of the following parameters at the same time before the Challenge ends. Specifically:

(a) During the Ultimate Traders Challenge, the Customer opens at least one demo trade on at least three (3) different trading days;

(b) The Customer did not during the Ultimate Traders Challenge report a loss on any demo trades opened and closed on that day, which would exceed the percentage of 6% max daily loss of the Initial Capital for the respective option.

(c) The Customer did not during the Ultimate Traders Challenge report a loss on any opened and closed demo transactions, which would exceed in total the percentage of 12% max loss of the Initial Capital for the respective option.

(d) During the Ultimate Traders Challenge, the Customer report a total profit of 10% on all closed demo trades amounting to at least the percentage of the Initial Capital for the respective.

(e) The Customer is not allowed to open more than 200 Lots in one direction (Buy or Sell). The Customer is not allowed to open more than 400 Lots in both directions (Buy and Sell).

The above parameters are explained in more detail on the Website.

9.5. If the Customer has met the conditions of the Ultimate Traders Challenge – Phase 1 specified in clause 8.4, and at the same time has not breached this Agreement, in particular the rules of demo trading under clause 6, the Company will consider the Ultimate Traders Challenge – Phase 1 as successful and the Customer will be able to proceed to the Phase 2 free of charge. In case this arises, the Company will send login details to the Customer’s e-mail address or Client Area. The Company shall not evaluate the ULTIMATE TRADERS Challenge if the Customer has not closed all trades.

9.6. If during the Ultimate Traders Challenge – Phase 1 the Customer does not comply with some of the conditions specified in clause 8.4.1, the Ultimate Traders Challenge – Phase 1 will be evaluated as unsuccessful, and the Customer will not be allowed access to the Phase 2.

9.7. PHASE 2 – ULTIMATE TRADERS CHALLENGE

9.7.1. The Customer shall activate the Phase 2 by opening the first demo trade in the Trading Platform. If the Customer does not activate the Phase 2 within 30 calendar days from the day on which the Customer received the new login data, the Customer’s access to the Phase 2 will be suspended. The Customer may request the renewal of access via the Client Area or by sending an e-mail to support@ultimatetraders.com within 90 calendar days of the suspension, otherwise we will terminate the provision of the Services without any right to a refund.

9.7.2. In order for the Customer to meet the conditions of the Phase 2, the Customer must fulfil all of the following parameters at the same time by the end of Phase 2:

(a) during the Phase 2, the Customer has opened at least one demo trade on at least three (3) different calendar days;

(b) at no time during the Phase 2 did the Customer report a loss on any demo trades opened and closed on that day, which would exceed the percentage of 6% max daily loss of the Initial Capital for the respective option.

(c) at no time during the Phase 2 did the Customer report a loss on any opened and closed demo transactions, which would exceed in total the percentage of 12% max loss of the Initial Capital for the respective option.

(d) during the Phase 2, the Customer reported a total profit of 5% on all closed demo trades amounting to at least the percentage of the Initial Capital for the respective.

(e) The Customer is not allowed to open more than 200 Lots in one direction (Buy or Sell). The Customer is not allowed to open more than 400 Lots in both directions (Buy and Sell).

The above parameters are explained in more detail on the Website.

9.7.3. In order for the Customer to meet conditions of the Phase 2, the Customer shall comply with the following:

(a) Customer has met the conditions of the Phase 2 specified in clause 9.6.2;

(b) Customer has not violated this Agreement in particular, the rules of demo trading under clause 6;

9.8. If during the Phase 2, the Customer does not comply with any of the conditions specified in clauses 9.7.2 and 9.7.3, the Phase 2 will be evaluated as unsuccessful, and the Customer will not be recommended as a candidate for the Ultimate Traders program. In such cases, the Customer’s account and Services will be cancelled without refund of fees already paid. The Company shall not be responsible in case the Customer has been rejected by the Ultimate Traders program.

9.9. If the above conditions are met, the Company will evaluate the Phase 2 as successful and will recommend the Customer as a candidate for Ultimate Traders program. The Customer may request the evaluation of the Phase 2 at any time by sending a request to support@ultimatetraders.com or via the Client Area. The Company shall not evaluate the Phase 2 if the Customer has not closed all transactions.

10. SPEEDY CHALLENGE

10.1. After paying the fee for the selected option of the Ultimate Traders Challenge, the Customer will receive the relevant login data for the Trading Platform at the e-mail address provided by the Customer or in the Client Area. The Customer can activate the Ultimate Traders Challenge by opening the first demo trade in the Trading Platform.

10.2. If you are a consumer, you acknowledge that, by opening the first demo trade, you expressly demand the Company to complete the Services before the expiration of the period for withdrawal from the contract, which waives your right to withdraw from the contract, as specified in detail in clause 16.

10.3. In order for the Customer to meet the conditions of the Ultimate Traders Challenge, the Customer must fulfill all of the following parameters at the same time by the end of the ULTIMATE TRADERS Challenge:

10.3.1. during the Ultimate Traders Challenge, the Customer has opened at least one demo trade on at least three (3) different trading days;

10.3.2. at no time during the Ultimate Traders Challenge did the Customer report a loss on any demo trades opened and closed on that day, which would exceed the percentage of 4% max daily loss of the Initial Capital for the respective option.

10.3.3. at no time during the Ultimate Traders Challenge did the Customer report a loss on any opened and closed demo transactions, which would exceed in total the percentage of 6% max loss of the Initial Capital for the respective option.

10.3.4. during the Ultimate Traders Challenge, the Customer reported a total profit of 10% on all closed demo trades amounting to at least the percentage of the Initial Capital for the respective.

10.3.5. The Customer is not allowed to open more than 200 Lots in one direction (Buy or Sell). The Customer is not allowed to open more than 400 Lots in both directions (Buy and Sell).

The above parameters are explained in more detail on the Website.

10.4. For the Customer to meet the conditions of the Ultimate Traders Challenge, the Customer shall comply with the following:

10.4.1. Customer has met the conditions of the Ultimate Traders Challenge specified in clause 7.2;

10.4.2. Customer has not violated this Agreement, in particular, the rules of demo trading under clause 5.4; and

If the above conditions are met, the Company will evaluate the Ultimate Traders Challenge as successful and will recommend the Customer as a candidate for Ultimate Traders program. The Company does not have to evaluate the Ultimate Traders Challenge if the Customer has not closed all transactions.

10.5. If during the Ultimate Traders Challenge the Customer does not comply with some of the conditions specified in clause 10.3, the Ultimate Traders Challenge will be evaluated as unsuccessful, and the Customer will not be recommended as a candidate for the Ultimate Traders program. In such cases, the Customer’s account and Services will be cancelled without refund of fees already paid.

10.6. The Ultimate Traders Challenge lasts for 30 calendar days from the date of its activation. If you do not activate the Ultimate Traders Challenge within 30 calendar days of the date on which it was made available to you, your access to it will be suspended. You can request the renewal of access via the Client Area or by sending an e-mail to support@ultimatetraders.com within 90 calendar days of the initial suspension, otherwise we will terminate the provision of the Services without any right to request a refund.

11. ULTIMATE TRADERS

If the Customer is successful in the Ultimate Traders Challenge (either Classic or Speedy), the Customer may be offered a contract by a third-party company to participate in the Ultimate Traders Program. The terms, conditions, and agreement between the Customer and a third-party company are strictly between the Customer and the third-party company, but the Customer will still maintain access to the Client Area. The Company is in no way involved with the Ultimate Traders program agreement—or lack thereof—executed between the third-party company and the Customer. The Customer acknowledges their personal data may be shared with a third- party company for purposes of considering offering such a contract.

12. USE OF THE WEBSITE, SERVICES AND OTHER CONTENT

12.1. The Website and all Services, including the Client Area, 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 subject to legal protection pursuant to copyright laws and other legal regulations and are the property of the Company or the Company’s licensors. The Company grants 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 the property of the Company or the Company’s licensors.

12.2. All rights and interests and all intellectual property rights (including without limitation, all trademarks, logos, trade names, and other designations relating to the Company) are the property of the Company or the Company’s suppliers or licensors and will remain the Company’s property or that of the Company’s suppliers or licensors at all times. The Customer acknowledges that it does not have authorization to use any intellectual property rights belonging to the Company. The Customer will have no right or interest in those intellectual property rights other than the right to access the Trading Platform. The Customer shall not copy, license, sell, transfer, make available the Trading Platform or information on the Website to any other person.

12.3. Both the Customer and the Company undertake to act in accordance with the principles of fair dealing in the performance of the contract and in mutual negotiations and, in particular, not to damage the good reputation and legitimate interests of the other party. The Customer and the Company will resolve any possible disagreements or disputes between them in accordance with this Agreement and the applicable law.

12.4. Except for the rights expressly set out in this Agreement, the Company does not grant you any other rights relating to the Services and other Content. You may only use the Services and other Content as set out in this Agreement.

12.5. When accessing the Services and other Content, the following is prohibited:

12.5.1. to use any tools that may adversely affect the operation of the Website and Services or that would be intended to take advantage of errors, bugs or other deficiencies of the Website and Services;

12.5.2. to circumvent geographical restrictions of availability or any other technical restrictions;

12.5.3. to make copies or back-ups of the Website and other Content;

12.5.4. to reverse-engineer, decompile, disassemble or otherwise modify the Website and other Content;

12.5.5. to sell, rent, lend, license, distribute, reproduce, spread, stream, broadcast or use the Services or other Content otherwise than as permitted;

12.5.6. to use automated means to view, display or collect information available through the Website or Services; and

12.5.7. to use any other tools or means the use of which could cause any damage to the Company.

12.6. The provisions of clause 12 are not intended to deprive the Customer of the Customer’s
consumer rights which cannot be excluded by law.

13. DISCLAIMER

13.1. You acknowledge that the Services and other Content are provided “as is”. The Company makes no warranties (express or implied), representations, or guarantees as to merchantability, fitness for any particular purpose or otherwise with respect to the Trading Platform, their content, any documentation or any hardware or software provided by the Company. Any technical difficulties such as errors, defects and shortcomings is at the Customer’s responsibility and risk. To the maximum extent permitted, the Company disclaims any statutory, contractual, express, and implied warranties of any kind, including any warranty of quality, merchantability, fitness for a particular purpose, or non-infringement of any rights.

13.2. The Customer acknowledges that the Services may not be available at all times, particularly with respect to maintenance, upgrades, or any other reasons. The Company bears no responsibility, and the Customer is not entitled to any compensation, for the unavailability of the Client Area or Trading Platform and for damage or loss of any data or other content that Customer uploads, transfers or saves through the Client Area or Trading Platform.

13.3. To the maximum extent permitted, the Company is not responsible for any harm, including any indirect, incidental, special, punitive or consequential damages, including lost profit, loss of data, personal or other non-monetary harm or property damage caused as a result of use of the Services or reliance on any tool, functionality, information or any other Content available in connection with the use of the Services or elsewhere on the Website. The Company is not responsible for any products, services, applications or other third-party content that the Customer uses in connection with the Services. If the Company’s liability is inferred in connection with the operation of the Website or provision of the Services by a court or any other competent authority, such liability shall be limited to the amount corresponding to the fee paid by the Customer for the Services in connection with which the Customer has incurred the damage.

13.4. The Company reserves the right to modify, change, replace, add, or remove any elements and functions of the Services at any time without any compensation.

13.5. The Company is not responsible for its failure to provide the purchased Services if that failure occurs due to serious technical or operational reasons beyond the Company’s control, in the case of any crisis or imminent crisis, natural disaster, war, insurrection, pandemic, a threat to a large number of people or other force majeure events, and/or if the Company is prevented from providing the Services as a result of any obligations imposed by law or a decision of a public authority.

13.6. The provisions of Clause 13 are not intended to deprive the Customer of the Customer’s consumer or other rights that cannot be excluded by law.

14. VIOLATION OF THE AGREEMENT

14.1. If the Customer violates any provision of this Agreement in a manner that may cause any harm to the Company, in particular, if the Customer accesses the Services in conflict with clause 1.3 and 1.4, if the Customer provides incomplete, untrue or non-updated information in conflict with clause 2.4, if the Customer acts in a manner that may be damaging to the Company’s good reputation, if the Customer violates the Demo Trading Rules pursuant to clause 6, if the Customer acts in conflict with clause 12.3, and/or if the Customer performs any of the activities referred to in clause 12.5, the Company may prevent the Customer from ordering any other Services and completely or partially restrict the Customer’s access to all or only some Services, including access to the Client Area and Trading Platform, without any prior notice and without any compensation.

15. COMMUNICATION

15.1. You acknowledge that all communication from the Company or its partners in connection with the provision of Services will take place through the Client Area or your e-mail address, which you register with us. Written electronic communication by e-mail or through the Client Area is also considered to be written communication.

15.2. Our contact e-mail address is support@ultimatetraders.com and our contact address is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, United Kingdom .

16. RIGHT TO WITHDRAW FROM A CONTRACT

16.1. If the Customer is an individual acting for purposes which are outside his business, trade or profession, the Client has a period of 14 calendar days from acceptance of this Agreement to withdraw without penalty and without giving any reason. This right of withdrawal or cancellation shall not apply if the Customer has started performing demo trades before the expiry of the specified time limit.

16.2. The Customer may cancel this Agreement by giving notice in writing to the Company at support@ultimatetraders.com within the specified time limit by using the below cancellation form.
Sample of cancellation form:

To: Ultimate Traders Evaluation Ltd
71-75 Shelton Street,
Covent Garden,
London, WC2H 9JQ,
United Kingdom
Email: support@ultimatetraders.com
I hereby declare that I have accepted the contract concluded by me for provision of the following services:
Services:
Date Ordered:
Name of consumer:
Registered Address of the consumer:
Signature of the consumer:
Date:

16.3. The Company shall confirm the Customer’s cancellation in writing. If the Customer withdraws from the Agreement, the Company will refund the Customer all fees received, in the same payment method. Refund shall be made without undue delay, no later than 14 calendar days after your withdrawal from the contract.

16.4. The Company reserves the right to immediately withdraw from the Agreement in the case of any breach by the Customer specified in Clause 14.

17. DEFECTIVE PERFORMANCES

17.1. The Company makes every effort to deliver high quality products. However, we do not guarantee that our products are free from defects. If the Services do not correspond to what was agreed or have not been provided to you, you can exercise your rights from defective performance. The Company makes no warranties as to performance, fitness for a particular purpose, or any other warranties whether expressed or implied. No oral or written communication from or information provided by the Company shall create a warranty. You must notify us of the defect without undue delay to our e-mail address support@ultimatetraders.com. When exercising the rights from defective performance, you have the right to request to remedy the defect or provide you with a reasonable discount. In case the defect cannot be remedied, you can withdraw from the contract or claim a reasonable discount.

17.2. We will try to resolve any complaint you may lodge as soon as possible (no later than within 30 calendar days), and we will confirm its receipt and settlement to you in writing. If we do not settle the complaint in time, you have the right to withdraw from the contract. You can file a complaint by sending an e-mail to our e-mail address support@ultimatetraders.com.

18. CHANGES TO THE AGREEMENT

18.1. The Company reserves the right to change this Agreement at any time with immediate effect for new customers and new orders of the Services placed by existing Customers. The most updated Agreement are published on our Website which Customers can read by visiting our Website. The Ultimate Traders Challenge are provided throughout the period of their duration pursuant to the version of this Agreement which was valid and effective at the time at which the relevant Ultimate Traders Challenge was ordered.

19. CHOICE OF LAW AND JURISDICTION

19.1 This Agreement and all transactional relations between the Customer and the Company are governed by English law and the competent court for the settlement of any dispute which may arise between them under or in relation to this Agreement shall be the Courts of England and Wales.

20. FINAL PROVISIONS

20.1. The Company has not adopted any consumer codes of conduct.

20.2. This Agreement constitutes the complete terms and conditions agreed between you and the Company and supersede all prior agreements relating to the subject matter of the Agreement, whether verbal or written.

20.3. Nothing in this Agreement is intended to limit any legal claims set out elsewhere in this Agreement or arising from the applicable law. If the Company or any third party authorized thereto does not enforce compliance with this Agreement, this can in no way be construed as a waiver of any right or claim.

20.4. The Company may assign any claim arising to the Company from this Agreement or any agreement to a third party without your consent. You agree that the Company may, as the assignor, transfer its rights and obligations under this Agreement or any agreement or parts thereof to a third party. The Customer is not authorized to transfer or assign the Customer’s 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.

20.5. If any provision of the Agreement is found to be invalid or ineffective, it shall be replaced by a provision whose meaning is as close as possible to the invalid provision. The invalidity or ineffectiveness of one provision shall not affect the validity of the other provisions. No past or future practice established between the parties and no custom maintained in general or in the industry relating to the subject matter of the performance, which is not expressly referred to in the Agreement, shall be applied and no rights and obligations shall be derived from them for the parties; in addition, they shall not be taken into account in the interpretation of manifestations of the will of the parties.

20.6. The schedules to the Agreement form integral parts of the Agreement. In the event of a conflict between the wording of the main text of the Agreement and any schedule thereof, the main text of the Agreement shall prevail.

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

21. DEFINITIONS, EXPRESSIONS AND ABBREVIATIONS USED

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

21.1.1. “Agreement” means these Terms and Conditions;
21.1.2. “Client Area” means the user interface located on the Website;
21.1.3. “Content” means the Website and all Services, including the Client Area, 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 12.1);
21.1.4. “Customer” means the user of the Services ;
21.1.5. “Events” means events as set out in clause 7.1.6(a);
21.1.6. “Ultimate Traders Challenge account” means trading accounts related to trading education courses provided as part of the Services by the Company;
21.1.7. “Ultimate Traders account” means a trading account, which relates to the Ultimate Traders Trader program provided by a third-party Company;
21.1.8. “Forbidden Trading Practices” means trading practices strictly forbidden while using our Services and are more detailed in Section 7 of this Agreement;
21.1.9. “Company” means Ultimate Traders Evaluation Ltd, a company registered in the United Kingdom with registration number 14665391;
21.1.10. “Restricted Jurisdictions” means countries determined as such by the Company;
21.1.11. “Schedules” means Schedule 1 and any other Schedules as applicable, which are part of this Agreement;
21.1.12. “Services” means the Company’s services as set out in clauses 1.1 and 2;
21.1.13. “Trading Platform” means an electronic interface provided by a third party in which the Customer performs the demo trading; and
21.1.14. “Website” means the website www.ultimatetraders.com.

21.2. For the purposes of the Agreement and their schedules, the following expressions and abbreviations shall have the following meanings:

21.2.1. “Initial Capital” means a fictitious amount that the Customer has chosen when selecting the option of the ULTIMATE TRADERS Challenge and which the Customer will use to perform demo trading;
21.2.2. “EUR” means the euro;
21.2.3. “USD” means the United States dollar;
21.2.4. “GBP” means the British pound;

SCHEDULE 1

OPTIONS OF ULTIMATE TRADERS CHALLENGES

CLASSIC CHALLENGE

– ULTIMATE TRADERS Challenge with an Initial Capital of USD 5,000

– ULTIMATE TRADERS Challenge with an Initial Capital of USD 10,000

– ULTIMATE TRADERS Challenge with an Initial Capital of USD 25,000

– ULTIMATE TRADERS Challenge with an Initial Capital of USD 50,000

– ULTIMATE TRADERS Challenge with an Initial Capital of USD 100,000

– ULTIMATE TRADERS Challenge with an Initial Capital of USD 200,000

SPEEDY CHALLENGE

– ULTIMATE TRADERS Challenge with an Initial Capital of USD 5,000

– ULTIMATE TRADERS Challenge with an Initial Capital of USD 10,000

– ULTIMATE TRADERS Challenge with an Initial Capital of USD 25,000

– ULTIMATE TRADERS Challenge with an Initial Capital of USD 50,000

– ULTIMATE TRADERS Challenge with an Initial Capital of USD 100,000

– ULTIMATE TRADERS Challenge with an Initial Capital of USD 200,000