1. introductory
1.1. These terms and conditions govern the rights and obligations between the company xhedgers corporation s.r.o., ID number: 22579222, with registered office at Příčná 1892/4, Nové Město, 110 00 Prague, Czech Republic, registered in the commercial register maintained by the Municipal Court in Prague under sp. stamp C 418754 and persons using the online platform operated by the provider through the website https://www.xhedgers.com.
1.2. The platform is used to provide services consisting in simulated trading using virtual resources within programs aimed at verifying the trading capabilities of individual users. The result of successful completion of the program may be the award of a reward according to the conditions set by the provider.
1.3. None of the services meet the characteristics of an investment service within the meaning of the ZPKT, as amended, or any other legal regulation. The provider does not provide investment advice, does not provide investment recommendations and is not entitled or obliged to receive or implement trading instructions.
1.4. By concluding a contract and using services through a platform, the person concerned undertakes to comply with these conditions, confirming their knowledge and acceptance as a binding legal framework.
1.5. These conditions form an integral part of the contract concluded between the provider and the user when registering on the platform or when using any of the services.
1.6. The current wording of the terms and conditions is available on the platform. The provider is entitled to unilaterally change these conditions under the conditions specified in Article 14.
the 2. Definition of concepts
2.1. For the purposes of these conditions, the following terms have the following meaning:
2.1.1. ‘Civil Code‘ means Act No. 89/2012 Coll., Civil Code.
2.1.2. ‘Performance Reward‘ means performance that may be granted to the User by the Provider if the conditions set out within the relevant program are met according to the program offer, which is specified in more detail in Article 9 of the Conditions.
2.1.3. ‘Conditions‘ means these terms and conditions of the provider.
2.1.4. ‘agenda‘ means specific challenges, tasks, simulations or business scenarios, the fulfillment of which is associated with the possibility of awarding a reward. The current program offer is published on the platform, while its form and conditions may change.
2.1.5. ‘Platform” means the web interface operated by the provider, including in particular the public websites available at https://www.xhedgers.com and the user section where the user account is and which is accessible to the user after registration, through which the services are made available to users.
2.1.6. ‘Provider‘means the company XHEDGERS CORPORATION s.r.o., IČO: 22579222, with registered office at Příčná 1892/4, Nové Město, 110 00 Prague, Czech Republic, registered in the commercial register maintained by the Municipal Court in Prague under file no. C 418754.
2.1.7. ‘service‘ They mean a set of activities provided by the Provider through a platform, consisting mainly of simulated trading using virtual resources within predetermined programs, specified in more detail in Article 6.1 and following conditions.
2.1.8. ‘Consumer‘ means a person according to Article 5.1. Conditions.
2.1.9. ‘User” means a natural or legal person who has entered into a contract with the provider and uses the services provided through the platform.
2.1.10. ‘user-friendly account” means the non-public part of the platform accessible after registration, in which the user manages his account and interacts with individual services.
2.1.11. ‘forbidden countries‘ They mean jurisdictions from which the use of services is not allowed, as specified in more detail in Article 4.2. Conditions. Their current list is published on the platform.
2.1.12. ‘zpct‘ means Act No. 256/2004 Coll., on doing business on the capital market.
3. Formation of the contractual relationship and access to the platform
3.1. The contractual relationship between the provider and the user is established when the registration of the user account on the platform is completed, by filling out the registration form, in which the user always creates access data (username and password) and its sending, or in another way in which the user It will show the will to use the services. After registration, the user will be sent an email with a link to the registration confirmation and a link to the user section of the platform.y login data to the user section and access to it. Registration is free and is used to create a user account and access the platform’s user section.
3.2. The provider is entitled to refuse to conclude a contract with any person without giving a reason. The Provider is not obliged to accept any registration or make the Services available, especially if there is a suspicion of a violation of legal regulations, these Terms or the Principles of Caution and Compliance with the Provider’s internal rules.
3.3. The user is allowed access to the user account (member’s section of the platform) after the registration is completed. Access to individual program offers and business accounts is possible after meeting the contractual conditions set by the provider, especially after payment of the relevant fee.
3.4. The user is obliged to provide true, up-to-date and complete information during registration. In the event of a change of this data, he is obliged to immediately notify this fact or update the data through the user account.
3.5. The Provider is entitled to temporarily limit or permanently block the User’s access to the User Section and/or Platform at any time in case of violation of these Terms, Terms of Individual Programs, Legal Regulations or Internal Policy of the Provider.
3.6. The user is obliged to protect the access data to the user account and to take reasonable measures to prevent their misuse. In case of reasonable suspicion of a security breach, the user is obliged to immediately inform the provider of this fact.
4. age and territorial restrictions, AML and sanctions regimes
4.1. The services are intended only for persons over the age of 18 who are fully capable of legal acts. The provider is entitled to request verification of the user’s age.
4.2. The services are not intended for persons who have nationality, permanent residence or actually reside in the territory of the state listed in the list of prohibited jurisdictions published on the platform. This list may be unilaterally modified by the provider at any time.
4.3. The user declares that he is not a person who has a nationality or residence in a prohibited country, nor does he reside in such a country, do not reside, carry out activities, nor perform access to the platform from it. The user further undertakes not to provide services to third parties.
4.4. The Provider is entitled to identify and control the User and his data in order to prevent the legalization of proceeds from criminal activity, financing terrorism and other illegal activities. For this purpose, the provider may request the provision of identification and verification data, even repeatedly, including data on means of payment, the identity of the real owner and the origin of the funds.
4.5. In the event that the User does not provide the required data or if there is a reasonable suspicion of non-compliance with legal regulations, the internal principles of the Provider, the following Terms or the Purpose of the Platform, the Provider is entitled to:
4.5.1. refuse to register a user,
4.5.2. temporarily or permanently block access to the platform,
4.5.3. not pay any reward,
4.5.4. withdraw from the contract,
4.5.5. Report suspicion to the competent authorities.
4.6. The User acknowledges that the Provider may keep internal records of the user’s breaches and that this information may be shared with other entities operating in the field of simulation trading or with the relevant authorities, in order to prevent fraudulent or illegal conduct.
5. consumers and special provisions
5.1. A user who is a natural person and, when concluding a contract with the provider, does not act as part of his business activity or as part of the independent performance of a profession, is considered a consumer within the meaning of the relevant legal regulations.
5.2. If the user provides the identification number of the person (IČO) or other data indicating the business nature of the activity during registration, it is considered that he is not acting as a consumer. This also applies if he provides such data voluntarily.
5.3. In accordance with § 1837 letter l) of the Civil Code, the consumer expressly agrees that the provider will initiate the provision of the service before the expiry of the withdrawal period. With this consent, the consumer expressly acknowledges that he loses the right to withdraw from the contract within 14 days from the date of its conclusion.
5.4. The provisions of this article take precedence over the deviating provisions of these terms and conditions, if required by the mandatory provisions of consumer protection legislation.
6. Description of services provided and user-friendly account
6.1. The provider provides services consisting in enabling access to the platform, where the user can perform simulated trading using virtual resources within individual program offers. All trading takes place in a fictitious environment without any connection to real financial markets and without real risk or profit.
6.2. Each user is entitled to use the platform only through one user account. Creating multiple user accounts by one user or sharing a third-party user account is prohibited.
6.3. The provider is entitled to unilaterally terminate or mark as inactive as inactive a specific program offer (prompt) of the user, if the user does not perform any business activity within the given program menu for a period of 30 days. This demise (‘falling’) of the program offer does not affect the user account itself, which remains active for any other program offers.
6.4. Through a user account, it is possible to participate in multiple program offers (prompts).
If the conditions of the specific program offer are met, the user can advance to the ‘funded phase’ of the specific program offer, while the other program offers within the same user account are not affected by this. All conditions of the ‘funded phase’ of the program offer, including the conditions for its change, payment of rewards and the termination of the program offer, are set out in the relevant program offer, and these conditions may differ from each other depending on the type of program offer.
6.5. The user acknowledges that all funds that are made available to him within the service are exclusively virtual and not real financial resources. The user is not entitled to use these funds outside the platform environment, nor can they be transferred, selected or otherwise monetized.
6.6. A program menu including individual challenges, tasks or business scenarios is always published on the designated page of the platform. The Provider is entitled to unilaterally change the content of the program offer at any time, including its parameters, structure, rules or conditions for awarding the Performance Reward. Changing the program menu does not have a reverse effect on already ongoing programs.
6.7. Participation in individual program offers is always conditional on the payment of the fee set by the provider. The amount of the fee and the terms of its payment are always indicated for the specific program within the program offer. The provider reserves the right to offer selected programs free of charge (e.g. a trial fourteen-day program), under the conditions set out in the relevant program offer.
7. Rules of using platform and fictitious trading
7.1. The user is entitled to carry out any trades during the simulated (fictitious) trading on the platform, unless it is a prohibited trading strategy or transaction within the meaning of this Article 7 of the Terms and Conditions. By concluding the contract, the user expressly agrees to the observance of the rules according to the conditions, at the same time also compliance with the standard rules of trading on the financial markets (the so-called risk management rules. The restrictions may also be explicitly set within the framework of individual program offers.
7.2. When using the platform and fictitious trading, the user is obliged to comply with these conditions, the rules of individual programs, legal regulations, the principles of honest trading and the basic rules of ethics. The platform may not be used for any purpose that would be contrary to these terms and conditions or the purpose of the Services.
7.3. Any actions of the User, which at the discretion of the Provider are in violation of the real trading or purpose of the Program according to the program offer, are considered prohibited, even if it is not explicitly stated in this article. The user may not perform any activities that could disrupt the proper operation of the platform or circumvent its rules or the rules of fictitious trading set out in Article 7 of the Terms, in particular:
7.3.1. use more than one user account,
7.3.2. Share account access data with other persons or share a user’s account on a platform with other persons,
7.3.3. use automated tools, scripts, robots or software to perform business operations,
7.3.4. use delayed data, latency, Platform Freezing, hedging between accounts, arbitrary business practices or other methods that are not in line with the functioning of real markets,
7.3.5. To use tools such as software, artificial intelligence, ultra high speed tools, or mass data inputs that could manipulate, abuse, or provide the user with an unfair advantage when using services,
7.3.6. manipulate technical settings in order to gain an advantage,
7.3.7. trade in a way that is not in accordance with the established rules of the program or could otherwise distort the results of the simulation,
7.3.8. knowingly or unconsciously use trading strategies that exploit errors in services such as errors in price display or delays in their updating,
7.3.9. to carry out the activity together with other persons, between linked accounts or accounts held with other companies, transactions or combinations of transactions, the purpose of which is to manipulate trading, such as simultaneous opening of opposite positions,
7.3.10. conduct trades in violation of the Provider’s Terms and Conditions of the Platform,
7.3.11. Perform Gap trading by opening trades:
i. When significant global news, macroeconomic events or corporate reports or economic results are scheduled (‘Goings-on‘) that could affect the relevant financial market (ie the market that allows trading of financial instruments that could be affected by these events); and
II. 2 hours or less before closing the relevant financial market closed for 2 hours or more,
7.3.12. Use strategies such as Grid Trading, Martingale, Tick Scalping or High Frequency Trading that do not meet real trading standards,
7.3.13. use copy-trading or any software or method to synchronize trades between accounts,
7.3.14. perform so-called account rolling or other practices consisting of intentional loss on one account in order to favor another user’s account,
7.3.15. Consciously or unconsciously exploiting technical errors or price display errors (‘Price Feed Errors’) is prohibited,
7.3.16. open positions or sets of positions whose total exposure does not correspond to the standard practice in real markets (over-leveraging / over-exposure),
7.3.17. Repeated insertion, modification or cancellation of orders (‘Order spam’) that do not correspond to normal business practice,
7.3.18. Otherwise, conduct trades contrary to how they actually trade in the financial markets, possibly in another financial market, or in a way that creates legitimate concerns that the provider could suffer financial or any other harm as a result of the user’s activity (e.g. Re-leverage, overexposure, one-sided bets, turnover of accounts/excess ordering).
7.4. Furthermore, the user is not authorized to abuse services by conducting trades without the application of standard market risk management rules for trading on the financial markets, this includes, among other things, the following procedures (i) opening significantly larger positions of positions compared to other customer trades, 5/15 regardless of whether on this or any other account of the user, or (ii) opening a significantly smaller or larger number of positions compared to other trades of the user, regardless of whether on this or any other the user’s account.
7.5. Violation of this Article 7. Terms is considered a gross breach of contract and may result in immediate:
7.5.1. blocking access to the platform and user account,
7.5.2. invalidating the user’s participation within the program,
7.5.3. loss of entitlement to a Performance reward,
7.5.4. Cancellation of the User Account,
7.5.5. Termination of contract,
7.5.6. Sharing data on infringement with other service providers or competent authorities.
7.6. The provider is entitled to check the user’s activities and keep records of his actions on the platform. The inspection may be carried out at any time, even retroactively, and its purpose is to verify compliance with these terms and conditions and with the rules of a specific program.
8. Fees and Payment Terms
8.1. Participation in individual platform programs is subject to payment of the fee, the amount and currency of which are determined within the relevant program offer published on the platform, unless expressly stated otherwise in the relevant program offer for a specific offer.
8.2. The program offer is available to the user only after payment of the fee, which is considered paid according to Article 8.3. conditions.
8.3. In the case of payment by credit card or other express payment, the payment is made immediately and the fee is considered to be paid immediately by confirmation of its payment via the payment gateway. In the case of payment by bank transfer, the provider will send an invoice to the user via the platform in electronic form with the amount of the fee for the selected program according to the program offer in the currency it has chosen as part of the program offer. The user undertakes to pay the amount within the period specified in the proforma invoice. The fee is considered to have been paid when the entire amount is credited to the provider’s account. If the amount is not paid on time, the provider is entitled to cancel the order. The user bears all fees charged to him by the selected payment service provider (according to the valid price list of the payment service provider) in connection with the transaction, and the user is obliged to ensure that the fee for the selected variant of the program according to the program offer is paid by the provider In full.
8.4. By paying the fee, the user gets access to a specific program and related services according to the conditions set out in the program offer. The fee is always considered a fee for providing access to the service within the program offer and not for its result.
8.5. The fee is non-refundable. By paying the fee, the user acknowledges that he is not entitled to its return, even if:
8.5.1. that the program will not complete,
8.5.2. that it fails to meet the conditions of the program,
8.5.3. that will end the contract,
8.5.4. that the account will be canceled due to breach of terms.
8.6. In the event that the User advertises payment of the fee without authorization or initiates a refund procedure through the payment service provider (e.g. Chargeback), the Provider is entitled to:
8.6.1. invalidate the program,
8.6.2. Cancel User Account,
8.6.3. block any future registrations,
8.6.4. inform other similar service providers,
8.6.5. assert any claim for damages arising from this action.
9. Performance Reward
9.1. The user can be entitled to a Performance reward within the relevant program according to the program offer, provided that he meets all the specified conditions in accordance with the rules of the program. Entitlement to performance remuneration arises only after express approval by the provider. Unsolicited or unpaid rewards expire 90 days after the user could apply for payment for the first time.
9.2. The above, form, method and time frame of the provision of the performance reward are always specified in the program menu related to the specific program. The provider reserves the right to adjust these parameters at any time with effects in the future.
9.3. Entitlement to performance The reward does not arise automatically by fulfilling the formal conditions of the program. The Provider reserves the right to delay, refuse or limit the payment of Performance Rewards, especially if:
9.3.1. there is a reasonable suspicion of a violation of these terms,
9.3.2. User’s behavior is contrary to the purpose of the service or good morals,
9.3.3. there will be a questioning of the authenticity of the results achieved,
9.3.4. The user will not prove his identity or will not provide the cooperation needed to verify the terms of the program.
9.4. The performance reward is paid by transfer to the user’s bank account maintained at a financial service provider based in a member state of the European Union or another state not listed in the list of prohibited countries.
9.5. The payment of the Performance reward is made on the basis of the user’s request submitted through the user account, after meeting all the conditions set by the relevant program as set out in the program offer and after completing all verification and control processes of the provider.
9.6. The application for the payment of the Performance reward is in the user account in the form of a predetermined form, which the user completes in accordance with Article 9.7 of the Terms and Conditions.
9.7. A request for payment of the Performance reward must contain at least:
9.7.1. identification of the program on the basis of which the performance reward is requested,
9.7.2. the required amount of the reward if it is variable or if the user does not want to pay it in full,
9.7.3. The bank account number in IBAN format to which the amount is to be transferred and, if necessary, the verification documents according to point 9.7.4 of this article,
9.7.4. a copy of the document of the user confirming the ownership of the said user account, if requested by the Provider; User account authentication can be done through an external authentication service (KYC) within which the user provides proof of identity and takes a verification photo (selfie),
9.7.5. The user account must be without open positions within the relevant program at the time of pay, within the relevant program,
9.7.6. Any other documents or confirmation according to the Provider’s instructions.
9.8. The provider will pay the Performance of the reward no later than 15 working days from the date of delivery of the complete payment request, including all required verification data, unless the provider agrees otherwise with the user in writing or unless another period is set directly in the rules of the specific program.
9.9. The provider is entitled to request from the user additional documentation or confirmations necessary to verify the fulfillment of the conditions for awarding the performance of the reward. If the required documents are not provided, the payment of the reward may be completely or partially refused.
9.10. The user acknowledges that the payment of the performance of the reward is subject to the provider’s internal control mechanisms, which also include the verification of compliance with legal regulations, including measures against the legalization of the proceeds of criminal activity and the financing of terrorism.
10. Contract Duration and Termination
10.1. The contract between the provider and the user is concluded for an indefinite period, unless expressly stated otherwise in the program, in special agreements or in these conditions.
10.2. The User is entitled to terminate the contractual relationship with the Provider at any time without giving a reason, through a user account or by delivering an explicit notice of termination of the Agreement. Termination of the contract does not interfere with the effectiveness of the provisions, which by their very nature persist even after its termination.
10.3. Termination of the contract does not give rise to the right to a refund of fees already paid, the right to continue in the initiated program or to the payment of the performance of the reward, unless all the conditions for its award have been met in accordance with Article 9 of these Terms and Conditions.
10.4. The provider is entitled to terminate the contract with the user immediately, especially in the following cases:
10.4.1. porušení jakéhokoli ustanovení těchto Podmínek ze strany Uživatele, zejména podmínek dle článku 7. Podmínek,
10.4.2. Violation of the rules of a particular program,
10.4.3. detection or reasonable suspicion of a fraudulent or other illegal act,
10.4.4. Failure to cooperate by the user in verifying identity, data or results,
10.4.5. violation of AML/CFT’s legislation or policies,
10.4.6. Attempt to reverse payment (Chargeback), claim payment in violation of these terms or other action aimed at invalidating the contract by the User after the provision of the Service,
10.4.7. The user is inactive for more than 1 year.
10.5. In the case of termination of the contract by the Provider for the reasons specified in paragraph 10.4. Is the provider authorized:
10.5.1. Cancel User Account,
10.5.2. Block the user’s access to the platform and user account,
10.5.3. invalidate program results,
10.5.4. refuse payment of the performance of the reward,
10.5.5. inform competent authorities or other providers of similar services.
10.6. Termination of the contract expires the user’s right to access the user account.
11. Responsibility and exclusion of investment advice
11.1. The provider provides services exclusively as a tool for simulating trading strategies, fictitious trading and verification of trading skills in a virtual environment. The services do not provide any form of direct access to the financial markets, nor do they create a legal relationship similar to the relationship between the investment intermediary and the user.
11.2. None of the services meet the characteristics of an investment service in the sense of ZPKT or other similar legal regulations. The provider does not provide investment advice, does not accept investment recommendations or implement any trading instructions.
11.3. Any information made available through the platform, including user results, graphical outputs, messages or other information, serves exclusively for orientation within the simulated environment and cannot be considered binding, accurate, complete or applicable in real investment decisions.
11.4. The Provider is not responsible for any direct or indirect damages, damage, lost profit, data loss, reputational damage or other consequences arising in connection with the use of services, results of simulated trading, behavior of other users or with malfunctions or limited availability of the platform.
11.5. The user is fully responsible for his actions within the platform, including whether and how he decides to possibly use the information obtained within the service outside the platform. The provider is not responsible for any consequences of the user’s actions based on the data obtained through the platform.
12. Onpersonal data protection And Cookies
12.1. The processing of the user’s personal data is governed by our privacy policy. The use of cookies on the Provider’s platform and website is described in the Cookies Policy.
13. Intellectual property and license
13.1. All content of the platform, including software solutions, graphic elements, databases, texts, logos, trademarks, program names, the structure of the user account and its interface and other elements, is protected by intellectual property law and is the exclusive property of the provider or its contractual partners.
13.2. By concluding a contract with the provider, the user does not have any ownership or other similar right to the platform, user section, services or their individual elements. The User obtains only limited, non-exclusive, non-transferable and time-limited authorization to use the Platform, User Account and Services exclusively for his own use and in accordance with these Terms.
13.3. The user is not authorized in particular:
13.3.1. reproduce, modify, translate, distribute, publish, rent, provide to the public or otherwise use any part of the platform commercially,
13.3.2. perform back-analysis, decompilation, decryption, reverse engineering, or other activity aimed at obtaining the platform’s source code,
13.3.3. remove or change any indication of intellectual property rights or technical means of protection.
13.4. Any unauthorized use of the contents of the Platform or part of it may be considered a violation of the Provider’s rights and may establish the User’s liability for damages, as well as a reason for the immediate termination of the Agreement by the Provider.
14. Changing conditions
14.1. The Provider is entitled to unilaterally change these Terms at any time, especially due to changes in legal regulations, technical circumstances, changes to the services offered or the need to adjust the contractual relationship with regard to operating, security or business conditions.
14.2. The provider will notify the user of the planned change of terms no later than 30 days before the planned change via the platform within his user account.
14.3. The changed wording of the Terms and Conditions becomes effective on the day it is published on the platform, unless a later date is set in the new version. The user is obliged to familiarize himself with the new wording of the conditions.
14.4. By continuing to use the platform after the new wording of the terms and conditions takes effect, it is considered that the User has accepted the change and agrees to the new wording of the Terms and Conditions.
14.5. In the event that the user does not agree to the change of terms and conditions, he is entitled to terminate the contract in accordance with Article 10 of the Terms and Conditions. The termination of the contract does not affect the legal effects of the services already provided, the fees paid or the claims arising before the termination.
15. Resolving disputes and resolute law
15.1. Legal relations established by the contract between the provider and the user and all disputes arising from or in connection with this contract are governed by the legal system of the Czech Republic, regardless of the conflict of laws of private international law.
15.2. The court is competent to decide disputes between the Provider and the User, according to the Provider’s registered office.
15.3. If the user is a consumer, he has the right to contact the subject of out-of-court settlement of consumer disputes in the event of a dispute.
15.4. Out-of-court settlement of the dispute is voluntary and does not deprive the party of the right to demand the protection of its rights in the relevant court.
16. Final provisions
16.1. Should any provision of these terms and conditions become invalid, ineffective or unenforceable, this fact does not affect the validity, effectiveness or enforceability of other provisions. Such a provision will be replaced by a provision that best corresponds to its meaning and purpose.
16.2. These terms and conditions constitute a complete agreement between the Provider and the User regarding the provision of Services and replace all prior arrangements, negotiations or communications between the Contracting Parties relating to the subject of this Agreement.
16.3. The rights and obligations of the User arising from the Agreement or these Terms and Conditions are not transferable to third parties without the prior express consent of the Provider.
16.4. The decisive wording of these conditions is the Czech language. In the event of a contradiction between the Czech version and translation into another language, the Czech version has priority.
16.5. These terms take effect on[doplnit datum].
