Terms and Conditions
The General Terms and Conditions (“GTC”) of PropTrader1 outline the rights and duties related to the use of services offered by PropTrader1 (“the Services”), primarily accessible via the www.proptrader1.com website (“the Website”). It is important to thoroughly review these GTC. If you disagree with, or do not comprehend any part of these Terms, you are required not to utilize the Services. Additionally, you should only use the Services if you fully understand and consent to these GTC.
1. Introduction
1.1. These GTC govern your (“you”, “your”, or the “Customer”) rights and obligations in connection with the use of service provided by SOUTH Bank Brokers CO. L.L.C , a limited liability company with registration number 923356 and having its registered office at Office no-341a-064, AL GHURAIR CENTRE, Al Murqabat, Dubai, United Arab Emirates (“we”, “our”, or the “Provider”), whether offered through the the Website or otherwise. Please read these GTC carefully. You are under no obligation to use the Services if you do not agree or understand any portion of these GTC, nor should you use the Services unless you understand and agree to these GTC.
1.2. By signing up on the Website or using the Services, you are agreeing to a contract with the Provider for your selected Services. These GTC are an essential part of this contract, and by accepting these terms you are entering into this agreement with the Provider (the “Contract”).
1.3. The Services are designed for individuals over 18 years of age who reside in countries where the Services are offered. By registering, you confirm you are over 18. If you are under 18, you are not permitted to use the Services. You agree to access the Services only from countries where they are available, acknowledging that access and use of the Services may be limited or illegal in certain countries, and you commit to complying with applicable laws.
1.4. The Provider does not offer Services to Customers who:
(i) are nationals or residents of Restricted Jurisdictions;
(ii) are established or incorporated or have a registered office in Restricted Jurisdictions;
(iii) are under international sanctions; or
(iv) have a criminal record related to financial crime or terrorism.
Restricted Jurisdictions are countries identified by the Provider and listed on the Website. The Provider reserves the right to refuse, limit, or terminate any Services to such Customers, which includes using the PT1 client area and/or Trading Platform.
1.5. The Provider's Services are not to be construed as investment services under applicable laws. The Provider does not offer you any guidance, instructions, or information on transaction methods or investment tools, nor accepts any from you. The Services are not investment advice or recommendations. No employees or representatives of the Provider are authorized to provide such advice or recommendations. Any information deemed as such is expressly disclaimed by the Provider, who is not responsible for it.
1.6. Your personal data is handled in line with the Privacy Policy.
1.7. Definitions, expressions, and abbreviations used in these PropTrader1 General Terms and Conditions are explained in clause 22.
2. Definitions, Expressions, and Abbreviations Used
2.1. In the context of these GTC, the following terms are defined as:
Calendar day | A 24-hour period from midnight to midnight based on EE(S)T time zone |
Content | Encompasses the Website, all Services including the Client Section, their appearance, applications, data, information, and multimedia elements like texts, drawings, graphics, design, icons, images, audio and video samples, and other content |
Customer | The user of the Services, as defined in Clause 1.1 |
CFD trading | CFD trading is a form of Contract For Differences (CFD) that allows you to participate in the price movements of the underlying forex pair. The main objective of FX CFD is to exchange one currency for another in the expectation that the currency pair will appreciate / depreciate depending on the position taken. |
Forbidden Trading Practices | Specific trading practices that are strictly prohibited when using the Services, detailed further in Section 5. of these GTC. |
Initial capital | A fictional amount selected by the Customer |
Pending Funded accounts | PropTrader1 Funded Account that will be activated as soon as there is no other active PropTrader1 Funded Account. |
PropTrader1 2-step and 1-step Evaluations | Demo accounts associated with trading education courses offered as part of the Services by the Provider |
PropTrader1 Evaluation | PropTrader1 Evaluation is a process in which a customer is allocated with simulated capital in order for them to employ their own market strategies and be evaluated by the Company on their success. It consists of Qualifying Round 1 and/or Qualifying Round 2. Upon successful completion of the Evaluation Process, customer are offered to trade on PropTrader1 Funded account with same balance as allocated in the Qualifying Round 1. |
PropTrader1 Funded account | A trading account linked to the PropTrader1 Trader program |
PT1 Client Area | The user interface on the Website |
Trading Platform | An electronic interface supplied by a third party where the Customer engages in demo trading |
USD | The United States dollar |
3. Communication
3.1. You agree that all communication related to the provision of Services from the Provider or its partners will be conducted via the PT1 website, PT1 Client Area or through the e-mail address you have registered with us. It is important to note that communication sent electronically, either via e-mail or through the PT1 Client Area, is regarded as written communication.
3.2. If you need to contact us, you can reach us via email at support@proptrader1.com.
4. Services and Order Process
4.1. Services can be requested via the Website by completing the necessary registration or order form. Post-registration, we will send you login details for the PT1 Client Area and/or Trading Platform, granting you access.
4.2. The Services encompass various offerings, including the PT1 2-step evaluation,
1-step evaluation, and Direct Funding products. Each of these products may vary in terms of the scope of services provided, such as the range of analytical tools made available to the Customer.
4.3. All information you provide through the registration or order form, the PT1 Client Area, or otherwise, must be complete, accurate, and current. You are obliged to promptly inform us of any data changes or update them in your PT1 Client Area. You bear responsibility for the accuracy and currency of your data; the Provider is not obligated to verify it.
4.4. Providing an identification or tax number, or indicating you are a legal entity, means you will be treated as a trader (entrepreneur) for these GTC and Service usage purposes, and consumer rights under these GTC or applicable law will not apply to you.
4.5. Fees for the PropTrader1 Evaluation vary based on chosen options, including initial simulated capital amount and evaluation conditions. Details on options and fees are on listed our website. Final fees depend on your chosen PropTrader1 Evaluation option. The Provider may also offer Services under individually negotiated terms, determined at its discretion. Individual discounts and benefits cannot be combined unless explicitly stated by the Provider.
4.6. The fee charged grants you access to the PT1 Evaluation, and the services associated with it. You have a right to withdraw from the contract, see section 15. Unless you withdraw from the contract, you are not eligible for a refund of this fee in various circumstances, such as if you cancel your PT1 Client Area or request its cancellation via email, if you discontinue using the Services or terminate the contract (for instance, by not passing the PT1 2-step or 1-step Evaluation process), if you fail to meet the requirements of the PT1 Evaluation, or if you breach these GTC.
4.7. If you unjustly dispute the fee with your bank or payment service provider, leading to a fee annulment, cancellation, or refund request, the Provider may cease providing any services to you and refuse future service provisions.
4.8. The PropTrader1 Evaluation option you select also applies to the subsequent Evaluation, with the same parameters. Once selected, this cannot be changed. This restriction does not apply to new PropTrader1 Evaluation orders.
4.9. The Provider retains the authority to unilaterally alter the fees and parameters of the Services at any given time, which includes modifying the criteria for their successful completion. However, any such changes will not impact the Services that were purchased prior to the notification of these changes.
4.10. Before finalizing the order for Services, you have the opportunity to review, modify, and correct any information you've entered on the order form. To place an order for the Services you desire, you need to submit the completed order form. Upon receipt of your order, the Provider will promptly send a confirmation to your email address. As for the PropTrader1 Evaluation, the order is finalized once you pay the fee for your chosen option, thus formalizing the contract between you and the Provider. This Contract encompasses the provision of the PropTrader1 Evaluation, Direct Funding account and, subject to meeting the PropTrader1 Evaluation criteria, the PropTrader1 Funded Account. The contract is established in English and is stored electronically. The new version of this GTC will be available on the Website. Accepted versions can be obtained by contacting us using email indicated in Clause 2.
4.11. You must recognize that using our Services requires you to have the necessary technical equipment and software, including third-party software (like that needed for the Trading Platform), which you must acquire at your own risk and expense. Our Website is compatible with most standard web browsers. You are responsible for obtaining internet access, purchasing necessary equipment, and ensuring your web browser is up-to-date, all at your own risk and cost. The Provider does not guarantee that the Services will work with any specific hardware or software, nor do we impose any extra fees for your internet connection.
4.12. Be aware that trading platform operators are independent from the Provider and have their own terms, conditions, and privacy policies. You are obliged to review these before submitting your order form.
If you place numerous Service orders in a short time, we may notify you via the PT1 Client Area as a precaution against potentially harmful behavior. Persistent unreasonable behavior may lead to suspension of further orders. If such behavior is related to Forbidden Trading Practices, actions per Section 6 of these GTC may be taken. The Provider has discretion over defining and determining the nature and boundaries of such behaviour.
5. Payments Terms
5.1. The fee amounts for various PropTrader1 Evaluation options are listed in USD.
5.2. All service charges include taxes. If the Customer is a legal entity, they are responsible for fulfilling all tax obligations related to the use of our Services as per applicable laws. This includes the proper payment of any taxes or other fees, if applicable.
5.3. The fee for the chosen PropTrader1 Evaluation option can be paid via a payment card, or other payment methods currently offered on the Website.
5.4. In cases where payment is made using a payment card or another instant payment method, the payment should be completed immediately. Fees are considered paid once fully credited to our account. Failure to pay on time may lead to cancellation of your order. Any transaction fees charged by your chosen payment service are your responsibility. It's essential to ensure the full fee for the selected PropTrader1 Evaluation is covered.
6. PT1 Client Area and Trading Platform
6.1. Each Customer is allowed only one PT1 Client Area, and all Services availed by the Customer must be managed within this PT1 Client Area.
6.2. The number of PropTrader1 Evaluations and Direct funding a Customer can have in one PT1 Client Area might be limited. You are free to purchase as many evaluations as you like without any restrictions. However, you are allowed to trade on only one Funded Account at a time, this includes Direct Funding Account. If you pass multiple challenges, you can trade on one Funded Account, while the others will be held in a pending status. In the event of a breach in your Funded Account, we will then activate your other Pending Funded accounts.
6.3. Customers are prohibited from transferring or combining performance data, Service parameters, or any other information across different products.
6.4. Access to the PT1 Area and Trading Platform is secured with login credentials, which should not be shared or made available to any third parties. If the Customer is a legal entity, it may permit authorized employees and representatives to use the Services through its Client Area. The Customer is responsible for all activities conducted through their PT1 Client Area or Trading Platform. The Provider is not liable for any misuse of the PT1 Area, Trading Platform, or any part of the Services, nor for any negative consequences that arise due to such misuse from the Customer’s end.
6.5. The Customer should be aware that the Services may not be available at all times and could be interrupted for Website’s and it’s Services maintenance, upgrades, or for other reasons. The Customer acknowledges that he is aware of and understands the nature and possible issues associated with a delivery of Services and agrees that in such cases the Customer is not entitled to any kind of compensation, for any unavailability of the PT1 Client Area or Trading Platform, or for any damage or loss of data or other content uploaded, transferred, or saved by the Customer through the PT1 Client Area or Trading Platform.
6.6. The Customer has the option to request the cancellation of their PT1 Client Area at any time by sending an email to support@proptrader1.com . Such a request is considered a desire to terminate the contract with the Provider. Upon this request, the Customer loses the right to use the Services, including the PT1 Client Area and Trading Platform. The Provider will confirm receipt of this request via email, effectively ending the contractual relationship between the Customer and the Provider. In this scenario, the Customer is not entitled to a refund of any fees paid or other costs incurred.
7. Trading with Simulated Funds Rules
7.1. The Services provided by PropTrader1 include tools for simulated trading in the foreign exchange (FOREX) market and other financial markets, along with analytical tools, training, and educational materials. These services also grant access to the Client Section and other related services, either directly through the PT1 Client Area or via applications from the Provider or third parties. In using these Services, you acknowledge that the trading activities you engage in are simulated and not real transactions. The financial market information used in this simulated trading environment is for educational and practice purposes only. It's important to understand that the funds allocated for demo trading are purely fictional. You have no actual ownership of these funds beyond their use within the Services. These funds cannot be used for real trading activities, and you are not entitled to any real monetary payment or remuneration based on your performance in simulated trading. Unless specifically agreed otherwise, you will not receive any profits based on the results of your simulated trading, nor will you be liable for any losses incurred during these activities.
7.2. During your simulated trading sessions on the Trading Platform, you are allowed to execute any transactions as long as they do not involve prohibited trading strategies or practices as defined in Clause 8. You are also expected to adhere to accepted market standards and practices relevant to trading on financial markets, such as risk management rules. Additionally, your trading might be subject to limitations set by the specific trading conditions of the Trading Platform you are using.
7.3. You acknowledge that the Provider has the ability to access information about your demo trades on the Trading Platform. By engaging in demo trading, you give your consent for the Provider to share this trading information with entities that are part of the same group as the Provider or are otherwise affiliated with them. This authorization allows for automatic processing of your trading data without the need for further consent, consultation, or approval from you. Furthermore, you understand that you will not receive any compensation or revenue from the Provider's use of this data. The Provider recognizes that your demo trading activities do not constitute investment advice or recommendations on your part. You also have the right to halt your demo trading on the Trading Platform whenever you choose.
7.4. The Provider is not liable for any information shown on the Trading Platform, nor for any disruptions, delays, or inaccuracies in the market information presented through your PT1 Client Area.
8. Prohibited Trading Practices During Simulated Trading
8.1. The Provider has the discretion to determine what constitutes Forbidden Trading Practices, including specific trades, practices, strategies, or situations.
8.2. While engaging in simulated trading (evaluation and funded accounts), the following activities are strictly forbidden:
(i) Employing trading strategies that intentionally or unintentionally take advantage of errors in the Services, such as inaccuracies in price displays or delays in price updates.
(ii) Executing trades using an external data source or a data feed that is delayed.
(iii) Independently or in collaboration with others, including across connected accounts or accounts with different PropTrader1 entities, conducting trades or trade combinations aimed at manipulating the market. This includes entering opposite positions simultaneously.
(iv) Trading in a manner that contradicts the terms and conditions set by the Provider and the Trading Platform.
(v) Utilizing any form of software, artificial intelligence, ultra-high-speed trading, or mass data entry methods that could manipulate, exploit, or provide an unfair advantage in our systems or Services.
(vi) Entering into an CFD trading at or near the end of the trading day with intent of profiting from the marketing gap between when the market closes and reopens on the subsequent trading day.
(vii) Conducting trades in a way that deviates from normal practices in the Forex or other financial markets, or in a manner that raises legitimate concerns about potential financial or other harm to the Provider (e.g., excessive leveraging, overexposure, one-sided bets, account rolling).
8.3. As a Customer, you must recognize and agree that our Services are solely for your personal use, meaning only you can access and trade on your PropTrader1 Evaluation and Direct Funded Accounts. Therefore, you must not:
(i) Permit third parties to access or trade on your PropTrader1 Evaluation and Direct Funded accounts, nor should you collaborate with any third party to conduct trades on your behalf, regardless of whether the third party is an individual or a professional.
(ii) Access or trade on third-party PropTrader1 Evaluation and Direct Funded accounts, offer account management services, or engage in activities where you trade, operate, or manage PropTrader1 Evaluation and Direct Funded accounts on behalf of another user, whether as a professional service or otherwise.
8.4. Additionally, as a Customer, you are prohibited from exploiting the Services by engaging in trades that disregard standard market risk management rules for trading on financial markets. This includes practices such as:
(i) Opening significantly larger position sizes compared to your other trades, whether on this or any other of your accounts.
(ii) Initiating a considerably smaller or larger number of positions compared to your other trades, across any of your accounts.
8.5. If a customer participates in prohibited trading activities outlined in Clause 8, the provider may:
(i) treat this as a breach of the PropTrader1 Evaluation or Direct Funded Account conditions,
(ii) remove or ignore the results of such trades from the customer's simulated trading record,
(iii) immediately terminate the services and the contract with the customer.
8.6. If the Customer, on their own or with others, engages in Forbidden trading practices on one or more PropTrader1 Evaluation or Funded accounts, the Provider has the right to terminate all related services and contracts, and take other actions as mentioned in Clause 8. These actions are at the Provider's discretion.
8.7. If the Customer repeatedly engages in the activities mentioned in Clause 8, despite prior warnings, the provider may block their access to all services, including the PT1 Client Area and Trading Platform, without any compensation or refund of fees paid.
8.8. The Provider is not responsible for the Customer's trading or investment activities conducted outside their relationship, such as using data from the PT1 Client Area or Trading Platform for real market trading. This includes situations where the customer uses the same Trading Platform for both demo and real trading.
8.9. It's important to understand that financial markets are unpredictable and subject to sudden changes. Trading on these markets might not always be profitable and could result in significant financial losses. Past performances or profits from simulated trading do not guarantee or indicate future success.
9. 2-Steps Evaluations (B-Licence)
9.1. Upon payment for the chosen PropTrader1 Evaluation, the customer will be sent the necessary login details to access the Trading Platform, either via the email address they provided or through the PT1 Client Area. The PropTrader1 Evaluation begins as soon as the customer initiates their first trade on the Trading Platform. Be aware that starting your first demo trade is an explicit request for the provider to deliver complete services immediately. For consumers, this early completion of services impacts your ability to withdraw from the contract, as detailed in Clause 15. If the PropTrader1 Evaluation isn't activated within 30 days from when it's made available, access will forfeit.
9.2. To successfully complete the PropTrader1 Evaluation Step 1, the Customer must simultaneously meet the following criteria:
(i) The Customer must trade for at least 3 days during the current duration cycle. A trading day is defined as a day when at least one simulated trade is opened. If a trade is held over multiple days, only the day when the trade was opened on is considered to be the trading day.
(ii) The Customer must achieve a total profit on all closed simulated trades that reaches at least the specified percentage of the initial capital for their selected option. In order for this condition to be passed, all trades must be closed
(iii) During any calendar day of the PropTrader1 Evaluation, the Customer should not incur a loss on any simulated trades opened and closed on that day exceeding Maximum Daily Loss. Maximum Daily Loss is a specified percentage of starting balance. This amount is then deducted from the previous day's end of day balance to identify a daily loss limit. The daily loss limit resets at 11:59 PM EE(S)T each day.
(iv) At no point in the PropTrader1 Evaluation should the Customer's equity reach or drop below the Maximum Drawdown Limit. The Maximum Drawdown limit represents a point in the trading account’s equity, down to which the client is allowed to drop before the trading account is disqualified.
It is calculated as: Maximum Drawdown Limit = Initial Balance - Initial balance * Percentage.
9.3. For a more detailed explanation of these parameters, refer to the information available on the Website.
9.4. To successfully complete the Evaluation step 1 and be considered for the next step, the Customer must adhere to the following requirements:
(i) the Customer successfully meets the criteria of the PropTrader1 Evaluation Step 1;
(ii) the Customer has not breached any part of these GTC, particularly the prohibited trading practices under clause 8.
It's important to note that the Provider is not obligated to evaluate the PropTrader1 Evaluation if the Customer has not closed all their trades.
9.5. Following the successful PropTrader1 Evaluation Step 1, the Provider will offer the Evaluation step 2 to the Customer at no extra cost. The Provider will send the login details for a new account to the Customer's email address or make them available in the PT1 Client Area.
9.6. The Evaluation step 2 is activated by the Customer when they open their first simulated trade on the Trading Platform. If the Customer does not initiate the evaluation phase 2 within 30 calendar days from the receipt of the new login details, their access to the Service will be terminated.
9.7. To successfully complete the Evaluation step 2, the Customer must simultaneously fulfill the following criteria:
(i) The Customer must trade for at least 3 days during the current duration cycle. A trading day is defined as a day when at least one simulated trade is opened. If a trade is held over multiple days, only the day when the trade was opened on is considered to be the trading day.
(ii) The Customer must achieve a total profit on all closed simulated trades that reaches at least the specified percentage of the initial capital for their selected option. In order for this condition to be passed, all trades must be closed
(iii) During any calendar day of the PropTrader1 Evaluation, the Customer should not incur a loss on any simulated trades opened and closed on that day exceeding Maximum Daily Loss. Maximum Daily Loss is a specified percentage of starting balance. This amount is then deducted from the previous day's end of day balance to identify a daily loss limit. The daily loss limit resets at 11:59 PM EE(S)T each day.
(iv) At no point in the PropTrader1 Evaluation should the Customer's equity reach or drop below the Maximum Drawdown Limit. The Maximum Drawdown limit represents a point in the trading account’s equity, down to which the client is allowed to drop before the trading account is disqualified.
It is calculated as: Maximum Drawdown Limit = Initial Balance - Initial balance * Percentage.
9.8. For more detailed information about these parameters, please refer to the specifics provided on the PropTrader1 website.
9.9. To successfully complete the Evaluation step 2 and be considered for the PropTrader1 Funded account, the Customer must adhere to the following requirements:
(i) The Customer has fulfilled all the conditions of the Evaluation phase 2.
(ii) The Customer has not breached any part of GTC, particularly prohibited trading practices under clause 8.
(iii) The Customer has not exceeded the maximum total capital allocation limit. This limit is set at USD 2,000,000 either individually or combined per Customer or per each trading strategy, in accordance with the relevant PropTrader1 Funded account agreement, especially if the Customer is already participating in the PropTrader1 Funded account program.
9.10. If all the above conditions are met, the Provider will consider the Evaluation Step 2 successful and recommend the Customer as a potential candidate for the Funded Account program (See section 12). However, the Provider is not obliged to evaluate the Evaluation phase 2 if the Customer has not closed all their transactions.
9.11. If the Customer fails to meet some of the conditions during the PropTrader1 Evaluation step 1, the Evaluation will be deemed unsuccessful, and the Customer will be denied access to either Evaluation step 2. Similarly, if the Customer does not meet the conditions specified in Clause 9.9 during the Evaluation Phase2, the Evaluation will be evaluated as unsuccessful, and the Customer will not be recommended for the PropTrader1 Funded Account program. In such cases, the Customer’s account and Services will be cancelled without any refund of fees already paid.
9.12. It’s important to note that the Provider’s recommendation for the Customer as a candidate for the PropTrader1 Funded Account Program does not guarantee acceptance into the program.
10. 1-Step Evaluations (A-Licence)
10.1. Upon payment for the chosen PropTrader1 Evaluation, the customer will be sent the necessary login details to access the Trading Platform, either via the email address they provided or through the PT1 Client Area. The PropTrader1 Evaluation begins as soon as the customer initiates their first trade on the Trading Platform. Be aware that starting your first demo trade is an explicit request for the provider to deliver complete services immediately. For consumers, this early completion of services impacts your ability to withdraw from the contract, as detailed in Clause 16. If the PropTrader1 Evaluation isn't activated within 30 days from when it's made available, access will forfeit.
10.2. To successfully complete the PropTrader1 Evaluation Step 1, the Customer must simultaneously meet the following criteria:
(v) The Customer must trade for at least 3 days during the current duration cycle. A trading day is defined as a day when at least one simulated trade is opened. If a trade is held over multiple days, only the day when the trade was opened on is considered to be the trading day.
(vi) The Customer must achieve a total profit on all closed simulated trades that reaches at least the specified percentage of the initial capital for their selected option. In order for this condition to be passed, all trades must be closed
(vii) During any calendar day of the PropTrader1 Evaluation, the Customer should not incur a loss on any simulated trades opened and closed on that day exceeding Maximum Daily Loss. Maximum Daily Loss is a specified percentage of starting balance. This amount is then deducted from the previous day's end of day balance to identify a daily loss limit. The daily loss limit resets at 11:59 PM EE(S)T each day.
(viii) At no point in the PropTrader1 Evaluation should the Customer's equity reach or drop below the Maximum Trailing Drawdown Limit. Maximum Trailing Drawdown limit is calculated as High WaterMark Level minus Max Drawdown Value. Maximum Drawdown Value is defined percentage of the initial capital for client`s chosen option. The High Watermark is based on highest balance of the given account. The Maximum Trailing Drawdown locks on the initial balance.
10.3. For a more detailed explanation of these parameters, refer to the information available on the website.
10.4. To successfully complete the Evaluation step 1 and be considered for the next step, the Customer must adhere to the following requirements:
(i) the Customer successfully meets the criteria of the PropTrader1 Evaluation Step 1.
(ii) The Customer has not breached any part of GTC, particularly the prohibited trading practices under Clause 8.
(iii) The Customer has not exceeded the maximum total capital allocation limit. This limit is set at USD 2,000,000 either individually or combined per Customer or per each trading strategy, in accordance with the relevant PropTrader1 Funded account agreement, especially if the Customer is already participating in the PropTrader1 Funded account program.
It's important to note that the Provider is not obligated to evaluate the PropTrader1 Evaluation if the Customer has not closed all their trades.
10.5. Following the successful PropTrader1 Evaluation Step 1, the Provider will offer the Funded account to the Customer at no extra cost. The Provider will send the login details for a new account to the Customer's email address or make them available in the PT1 Client Area.
10.6. If all the above conditions are met, the Provider will consider the Evaluation step 2 successful and recommend the Customer as a potential candidate for the Funded Account program.
10.7. If the Customer fails to meet some of the conditions during the PropTrader1 Evaluation step 1, the Evaluation will be deemed unsuccessful, and the Customer will be denied access to the Funded Account program. In such cases, the Customer’s account and Services will be cancelled without any refund of fees already paid.
10.8. It’s important to note that the Provider’s recommendation for the Customer as a candidate for the PropTrader1 Funded Account Program does not guarantee acceptance into the program.
11. Direct Funding (Super License)
11.1. Upon payment for the Direct Funding, the customer will be sent the necessary login details to access the Trading Platform, either via the email address they provided or through the PT1 Client Area. Direct Funding does not have Evaluation Steps. Be aware that starting your first simulated trade is an explicit request for the provider to deliver complete services immediately. For consumers, this early completion of services impacts your ability to withdraw from the contract, as detailed in Clause 15. If the PropTrader1 Evaluation isn't activated within 30 days from when it's made available, access will forfeit.
11.2. To have the ability to request a payout, the Customer must simultaneously meet the following criteria:
(i) The Customer must trade for at least 3 days during the current duration cycle. A trading day is defined as a day when at least one simulated trade is opened. If a trade is held over multiple days, only the day when the trade was opened on is considered to be the trading day.
(ii) The Customer must achieve a total profit on all closed simulated trades that reaches at least the specified percentage of the initial capital for their selected option. In order for this condition to be passed, all trades must be closed
(iii) During any calendar day of the PropTrader1 Evaluation, the Customer should not incur a loss on any simulated trades opened and closed on that day exceeding Maximum Daily Loss. Maximum Daily Loss is a specified percentage of starting balance. This amount is then deducted from the previous day's end of day balance to identify a daily loss limit. The daily loss limit resets at 11:59 PM EE(S)T each day.
(iv) At no point in the PropTrader1 Evaluation should the Customer's equity reach or drop below the Maximum Drawdown Limit. The Maximum Drawdown limit represents a point in the trading account’s equity, down to which the client is allowed to drop before the trading account is disqualified.
It is calculated as: Maximum Drawdown Limit = Initial Balance - Initial balance * Percentage.
(iv) The Customer has not breached any part of these GTC, prohibited trading practices under Clause 8.
(v) The Customer has not exceeded the maximum total capital allocation limit. This limit is set at USD 2,000,000 either individually or combined per Customer or per each trading strategy, in accordance with the relevant PropTrader1 Funded account agreement, especially if the Customer is already participating in the PropTrader1 Funded account program.
11.3. For a more detailed explanation of these parameters, refer to the information available on the website.
11.4. If the Customer fails to meet the conditions outlined in Clauses 11.2 (i) and (ii), the customer won’t be allowed to request payout. If the customer fails to meet the conditions outlined in clauses 11.2 (iii) to (v) the Customer`s account and Services will be cancelled without any refund of fees already paid.
12. Y PROPTRADER1 Funded Account Program
12.1. After successfully completing 2-step Evaluation or/and 1-Step Evaluation, customers may be considered for participation in the PropTrader1 Funded Account Program. This opportunity is at the sole discretion of the company. The agreement, including terms and conditions, established between the customer and the company, is exclusively their affair.
12.2. Funded accounts are subject to the following conditions:
(i) During any calendar day, the Customer should not incur a loss on any simulated trades opened and closed on that day exceeding Maximum Daily Loss. Maximum Daily Loss is a specified percentage of starting balance. This amount is then deducted from the previous day's end of day balance to identify a daily loss limit. The daily loss limit resets at 11:59 PM EE(S)T each day.
(ii) At no point in the PropTrader1 Evaluation should the Customer's equity reach or drop below the Maximum Drawdown Limit. The Maximum Drawdown limit represents a point in the trading account’s equity, down to which the client is allowed to drop before the trading account is disqualified.
It is calculated as: Maximum Drawdown Limit = Initial Balance - Initial balance * Percentage.
(iii) Make a trade at least every 30 calendar days in order to avoid the inactivity closure.
13. Use of the Website, Services, and Other Content
13.1. The website and all services it offer, including the PT1 Client Area, its visual design, and all components such as text, images, graphics, icons, audio and video clips, and other materials (collectively referred to as “Content”) are legally protected and owned by the Provider or its licensors. The Provider gives you a limited, non-exclusive, non-transferable, non-assignable, and revocable right to use this Content solely for personal use in line with the intended purpose of these services. The Content remains the property of the Provider or its licensors and is not sold or transferred to you.
13.2. All trademarks, logos, and brand names on the site belong to the Provider or its licensors, and you are not granted permission to use them.
13.3. Both the Customer and the Provider agree to act fairly and honestly in fulfilling the contract and in their dealings with each other. They commit to not harming each other's reputation or interests and to resolve any disagreements or disputes according to these GTC) and applicable law.
13.4. Beyond the rights explicitly mentioned in these GTC, the Provider does not confer any additional rights regarding the Services or Content. You may use the Services and Content only as outlined in these GTC.
13.5. While accessing the Services and Content, the following actions are prohibited:
(i) Using tools that negatively impact the website and services or exploit errors, bugs, or other weaknesses.
(ii) Bypassing geographical or other technical access restrictions.
(iii) Making copies or backups of the website and its content.
(iv) Reversing engineering, decompiling, disassembling, or altering the website and its content.
(v) Selling, renting, lending, licensing, distributing, reproducing, broadcasting, or otherwise using the Services or Content in unauthorized ways.
(vi) Using automated methods to view, display, or gather information from the website or services.
(vii) Using any tools or methods that could damage the Provider.
13.6. This Clause does not intend to strip the Customer of any consumer rights that cannot be legally waived.
14. Disclaimer
14.1. By using our services and content, you acknowledge that they are provided "as is," complete with any errors, defects, or shortcomings. You agree that using these services and content is entirely at your own risk. To the fullest extent allowed by law, the provider disclaims all types of warranties, whether statutory, contractual, explicit, or implied. This includes any warranty of quality, merchantability, fitness for a particular purpose, or non-infringement of rights.
14.2. As allowed by law, the provider is not liable for any harm, including indirect, incidental, special, punitive, or consequential damages. This encompasses lost profits, data loss, personal or other non-monetary harm, or property damage resulting from using the services or relying on any tools, functionalities, information, or other content related to the services or found on the website. The provider is not responsible for any third-party products, services, applications, or content used in connection with our services. If a court or authority does find the provider liable in relation to the website or services, this liability will be limited to the amount of the fee you paid for the services related to your loss.
14.3. The provider reserves the right to alter, replace, add, or remove elements and functions of the services at any time, without compensation.
14.4. The provider is not responsible for failing to provide services due to serious technical or operational issues outside its control, including crises, natural disasters, wars, pandemics, threats to public safety, or other force majeure events. This also applies if legal obligations or public authority decisions prevent the provider from delivering services.
14.5. The Provider shall not assume responsibility for third-party telecommunication, data network, system or services’ breakdowns or interruptions in operation, which may affect the services and delivery thereof, unless the Provider has explicitly in writing assumed such responsibility
14.6. This Clause does not aim to strip the customer of any consumer rights or other rights that cannot be legally excluded.
15. Violation of the General Terms and Conditions
15.1. Should the customer breach any part of GTC in a way that could harm the provider, particularly if the customer accesses services against the stipulations in Clauses 1.3 or 1.4, provides inaccurate, false, or outdated information as per Clause 4.3, engages in behaviour damaging to the provider’s reputation, violates simulated trading rules outlined in Clause 7, acts contrary to Clause 13, or partakes in any prohibited activities mentioned in Clause 8, the provider reserves the right to block the customer from ordering further services. Additionally, the provider may fully or partially restrict the customer's access to the services, including the PT1 Client Area and Trading Platform, without any prior notice and without any compensation.
16. Right to Withdraw from a Contract
16.1. As a consumer, you have the option to cancel a contract without needing to provide a reason within 14 days of the contract's execution. However, it's important to note that if you start performing demo trades before the end of this 14day period, you forfeit your right to withdraw from the contract.
16.2. To withdraw from the contract, you must send your request to our email address, support@proptrader1.com , within the mentioned 14-day period. We will promptly acknowledge receipt of your form in writing. If you do withdraw, we will process your refund without delay, and no later than 30 days from the date of your withdrawal, returning all fees we received from you using the same payment method you employed.
16.3. The Provider reserves the right to withdraw from the contract in instances of any breach by the Customer as outlined in Clause 15. This withdrawal becomes effective on the day it is delivered to the Customer's email address or through the PT1 Client Area.
17. Defective Performances
17.1. In cases where the Services provided do not match the agreed terms or have not been delivered, you are entitled to claim rights for defective performance. Please be aware that the Provider does not offer any guarantees regarding the quality of services. If you find a defect, it's important to report it to us promptly using our email address provided in Clause 3. When claiming your rights for defective performance, you can either request that we fix the defect or offer you a reasonable discount. If the defect is irreparable, you have the option to cancel the contract or demand a fair discount.
17.2. We aim to address and resolve any complaints you may raise as quickly as possible, certainly no later than 30 calendar days. We will acknowledge receipt of your complaint and inform you in writing once it is resolved. If we fail to address your complaint within this timeframe, you have the right to withdraw from the contract. To submit a complaint, please send an email to our email address support@proptrader1.com.
18. Changes to the General Terms and Conditions
18.1. The Provider may occasionally update these GTC and these changes will also apply to contracts already agreed upon with the Customer. The Provider will inform the Customer of any changes to the GTC at least 7 days before they become effective, either through the PT1 Client Area or via email. If the Customer disagrees with the amendments, they have the right to reject them. This rejection must be communicated no later than the last business day before the new changes take effect, by emailing support@proptrader1.com. If such rejection is received, the contract will be terminated. If the Customer does not express disagreement, it will be assumed that they accept the updated GTC.
18.2. If the changes introduce a new service, additional functionalities, or are solely beneficial to the Customer, the Provider may inform the Customer less than 7 days prior to the change, but not later than the day before it becomes effective.
18.3. The reasons for updating these GTC generally include:
(i) Introducing new or modifying existing services or products.
(ii) Complying with legal or regulatory requirements applicable to the Provider.
(iii) Making the GTC clearer or more beneficial for the Customer.
(iv) Adapting to technological or process changes that affect how Services are delivered.
(v) Adjusting to changes in the operational costs of the business.
19. Out-of-court Consumer Dispute Settlement
19.1. Our goal is to ensure customer satisfaction with PropTrader1 services. If you have any complaints or suggestions, we encourage you to reach out to us directly. You can contact us using the email address. We are committed to addressing and resolving your concerns personally.
19.2. If Customer and Provider are unable to resolve the conflict, the Customer has the right to submit a complaint to the Latvian Consumer Rights Protection Centre.
19.3. If the parties do not agree with the resolution of the Latvian Consumer Rights Protection Centre, parties have a right to submit a claim to the State Court of the Republic of Latvia where the dispute shall be resolved in accordance with Latvian Law.
19.4. Please note that the European Commission provides a platform for alternative out-of-court resolution of disputes, available on the website http://ec.europa.eu/odr.
20. Choice of Law and Jurisdiction
20.1. All legal relations initiated by GTC, as well as any related non-contractual legal matters, are subject to the laws of Cyprus. Disputes arising in connection with these GTC or related agreements will be under the jurisdiction of Cyprus courts, specifically those local to the Provider's registered office.
20.2. However, this Clause does not compromise the protection offered to consumers under the mandatory laws of their respective European Union Member States or other jurisdictions.
21.Duration and Termination of the Contract
21.1. The contract is valid for a specific period until the PropTrader1 Evaluation is either passed or failed.
21.2. Either party may terminate the contract earlier according to these GTC. The contract also automatically ends with immediate effect if the Customer does not open at least one simulated trade during a 30-day period in the PropTrader1 Evaluation or Direct Funded account (Inactivity period).
21.3. Additionally, the Provider may terminate this contract immediately for just cause, especially if continuing to provide Services under the contract would interfere with the Provider's legal obligations or compliance with government orders or regulatory decisions.
21.4. Either party can terminate this Contract without specific cause by providing a written notice at least 7 days in advance, by reaching us via email.
22. Final Provisions
22.1. The Provider has not endorsed any specific consumer codes of conduct.
22.2. These GTC represent the full agreement between you and the Provider, overriding all previous agreements related to the subject of these GTC, whether they were made verbally or in writing.
22.3. Nothing within these GTC is intended to restrict any legal claims outlined elsewhere in these GTC or those arising under applicable law. The failure of the Provider or any authorized third party to enforce compliance with these GTC should not be interpreted as a waiver of any rights or claims.
22.4. The Provider has the right to transfer any claims arising from these GTC or any related agreement to a third party without requiring your consent. You acknowledge that the Provider, as the assignor, may also transfer its rights and obligations under these GTC or any parts of the agreements to a third party. However, as the Customer, you are not permitted to transfer or assign your rights and obligations under these GTC, any parts of the agreements, or any receivables from them, either in whole or in part, to any third party.
22.5. If any provision of the GTC is deemed invalid or ineffective, it will be replaced by a provision that closely mirrors the intent of the invalid or ineffective provision. The invalidity or ineffectiveness of one provision does not impact the validity of the remaining provisions. Practices established between the parties in the past or future, or customs in the industry related to the subject matter of these GTC that are not explicitly mentioned, will not be applied. No rights or obligations will be derived from them, nor will they influence the interpretation of the parties' expressed intentions.
22.6. Before mutually agreeing to these GTC, both parties have carefully considered and accepted the potential risks associated with them.