TERMS OF USE FUNDUP OU

Terms Provisions

 

1. These General Terms and Conditions ("GTC") govern your ("you", "your", or the "Customer") rights and obligations in connection with the use of services provided by FUNDUP OÜ, with registry code 14249878, and its registered office at Harju maakond, Tallinn, Kesklinna linnaosa, Ahtri tn 12, 15551, Estonia (hereinafter "we", "our", or "the Provider").

• By registering on our Website or using our services, you agree to these GTC. If you do not agree or understand any part of these Terms, you should not use our services.

• The services are intended for persons over 18 years old. By registering, you confirm that you meet this age requirement.

• The Provider shall not provide Services to any Customer who is a national or resident of Restricted Jurisdictions, which are specified on our Website.

 

1. The Provider reserves the right to refuse, restrict or terminate the provision of any Services to Customer as per this Clause 1.4. and such Customer is prohibited to use the Services, which also includes the use of the Client Section and/or FUNDUP.

 

1. The Services consist of the provision of educational tools for simulated foreign exchange trading on the FOREX market or simulated trading with other instruments on other financial markets, provision of analytical tools, training and educational materials, the access to the Client Section, and other ancillary services, in particular through the Client Section or by the provision of access to applications provided by the Provider 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, its only for educational and evaluation purposes. 

 

1. You also acknowledge that 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.

 

1. None of the services provided to you by the provider can be considered investment services or financial advice, in accordance with applicable laws. The provider does not give or provide to you any guidance, instructions, or information about how or in which manner you should perform transactions when using the services or otherwise, or any other similar information about the investment tools traded, nor does the provider accept any such guidance, instructions, or information from you. None of the services constitute investment advice or recommendations. No employees, staff, or representatives of the provider are authorized to provide investment advice or recommendations. Should any information or statement of any employee, staff, or representatives of the provider be interpreted as investment advice or recommendations, the provider explicitly disclaims that the same is investment advice or recommendations and shall not be responsible for them.

 

1. Your personal data is processed in accordance with the Privacy Policy.

 

1. The trading simulation provided are for educational purposes only. It is not intended to serve as financial advice or a recommendation to engage in any specific trading activity. Participants in the trading simulation acknowledge and understand that the trades executed within the simulation are not real and do not involve actual financial transactions. Any gains or losses experienced within the simulation are purely hypothetical and should not be interpreted as indicative of future results in real trading environments. The Provider does not assume any responsibility or liability for the actions taken by participants based on the information or strategies learned through the simulation. Participants are solely responsible for their own trading decisions and outcomes. The Provider does not provide financial services or investment advice. Any information or materials provided as part of the simulation are for educational purposes only and should not be construed as personalized financial advice. Participants should exercise caution and conduct their own research and analysis before making any trading decisions in real markets. The Provider recommends consulting with a qualified financial advisor or professional before engaging in any trading activities. By participating in the trading simulation, participants agree to waive any claims or liability against the Provider, its instructors, employees, or affiliates, for any losses, damages, or other consequences resulting from their participation in the simulation or reliance on any information provided. The Provider reserves the right to modify, suspend, or terminate the trading simulation at any time without prior notice. Participants acknowledge and agree that the Provider shall not be liable for any disruptions or interruptions to the simulation.This disclaimer of liability is subject to change without notice. Participants are encouraged to review this disclaimer periodically for any updates or revisions. By accessing or participating in the trading simulation provided by the Provider, participants acknowledge that they have read, understood, and agreed to the terms outlined in this disclaimer of liability.

 

1. 1. For customers already engaged in the FUNDUP Trader Program, any mention of "trading strategy" or ''trader program'' or similar terms within the scope of the applicable agreement pertains solely to educational services provided. It is essential to understand that all activities conducted within the FUNDUP Trader Program are simulated and do not involve real money transactions. These educational materials and strategies are intended for informational purposes only and are not to be construed as financial advice or a recommendation to engage in actual trading activities with real funds. Participants should exercise caution and perform their own research before making any trading decisions in real markets. The Provider does not assume any responsibility or liability for actions taken by participants based on the information provided within the FUNDUP Trader Program.

• Accounts may be deactivated if different IP addresses are detected. This will be verified based on the IP addresses used to access the user dashboard, and we maintain a record of each IP used. If it is observed that logins originate from significantly different cities, the account may be deactivated. However, if the user has relocated, they must notify a specific email address to avoid any issues.

 

Services 

1. The services provided by the Provider include but are not limited to educational tools for simulated foreign exchange trading on the Forex market, analytical tools, training materials, and access to the Client Section for demo trading (the "Services").
2. The demo trading is purely for educational and evaluation purposes. All trades executed within the demo environment are not real, and any financial gains or losses are hypothetical.
3. To use our services, you must register an account on the Website by completing the registration form. You must provide complete, true, and up-to-date information and complete a KYC according to our AML.
4. Only one account is permitted per Customer. All services must be maintained within this account.
5. The fee for the services varies according to the selected option and is detailed on our Website. Payment must be made in full before access to the services is granted.
6. 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 Section, or if you state that you are a legal entity, you will be considered as an entrepreneur (trader) for the purposes of these GTC and when using the Services, and the provisions of these GTC or the applicable law that grant rights to consumers will not apply to you.
7. The fee for the FUNDUP OU varies according to the option 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 FUNDUP OU and the subsequent verification are met, and possibly other configurations. More detailed information on individual options and fees for those options are provided on our Website.
8. The final fee will be determined based on the option you select when completing the form for ordering the FUNDUP OU. The Provider reserves the right to also provide the Services under individually agreed conditions. All individually agreed conditions shall be determined by the Provider at its own discretion. Individual discounts and other benefits may not be combined, unless expressly stipulated otherwise by the Provider.
9. The fee is paid for allowing you to access the FUNDUP OU, or the Services provided under the FUNDUP OU. The Customer is not entitled to a refund of the fee, for example, if the Customer requests the cancellation by e-mail, if the Customer terminates the use of the Services or the contract (for example, fails to complete the FUNDUP OU or the Verification), fails to meet the conditions of the FUNDUP OU or the Verification, or violates these GTC.
10. If the Customer lodges an unjustifiable complaint regarding the paid fee or disputes the paid fee with the Customer's bank or payment service provider (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 Provider is entitled, at its own discretion, to stop providing to the Customer any services and refuse any future provision of any services.
11.  Your choice of the option of the FUNDUP OU that you select when making an order shall also apply to the subsequent Verification. You will start the subsequent Verification and, possibly, other products related thereto, with the parameters and the same currency that correspond to the option of the FUNDUP OU selected by you. Once you make a selection, it is not possible to change it. If you are ordering a new subscription, the restrictions specified in this clause shall not apply.
12. The Provider reserves the right to unilaterally change the fees and parameters of the Services at any time, including the parameters for their successful completion. 
13. 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 Provider will immediately confirm the receipt of your order to your e-mail address. 
14. In the case of the Challenge, the order is completed upon the payment of the fee for the selected option, whereby the contract between you and the Provider is executed, the subject of which is the provision of the FUNDUP OU and, if the conditions of the FUNDUP OU are met, the Verification. 
15. The contract is concluded in English. We archive the contract in electronic form and do not allow access to it.
16. You acknowledge that in order 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 FUNDUP), 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 Provider does not warrant or guarantee that the Services will be compatible with any specific equipment or software. The Provider does not charge any additional fees for the internet connection.
17.  You acknowledge that the operators of FUNDUP are persons or entities different from the Provider 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.
18. If the Customer places an unusually large number of orders for the Services within an unreasonably short period of time, the Provider may notify the Customer through the Client Section as a protective precaution to mitigate potentially harmful behavior of the Customer. If such unreasonable behavior continues after such notice, we reserve the right to suspend any further orders of the Services by the Customer. If we identify that the unusual behavior as per this paragraph relates to the Customer's involvement in Forbidden Trading Practices, we may take respective actions as perceived in this GTC. The Provider reserves the right to determine, at its own discretion, the nature of the behavior described above and reasonable boundaries for such determination.

 

Payment Terms

 

1. The amounts of fees for the FUNDUP OU options are in dollars. The fee can also be paid in other currencies or in cryptocurrencies that are listed on the Website. If you select any other currency than the dollars, the amount of the fee for the selected option of the FUNDUP OU 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.
2. Service charges are inclusive of all taxes. If the Customer is an entrepreneur (trader), he is obliged to fulfil 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.
3. You can pay the fee for the selected option of the FUNDUP OU by a payment card, via a bank transfer, or using other means of payment that the Provider currently offers on the Website.
4. In the event of payment by a payment card or via any other express payment method, the payment shall be made immediately. If you select a bank transfer for payment, we will subsequently send you a proforma invoice in electronic form with the amount of the fee for the option of the FUNDUP OU you have chosen on the Website. You undertake to pay the amount within the period specified in the proforma invoice. The fee is considered paid when its full amount is credited to the Provider's account. If you do not pay the amount on time, the Provider is entitled to cancel your order. Customer bears all fees charged to Customer by the selected payment service provider (according to the valid pricelist of the payment service provider) in connection with the transaction and the Customer is obliged to ensure that the respective fee for the selected FUNDUP OU is paid in full.

 

1 Phase and 2 Phases Programs

 

1.  Upon successful registration and payment of the required fee, you will receive login details for the demo trading platform.
2. To pass the evaluation, you must meet specific trading criteria outlined in the evaluations conditions located at: https://funduptrading.com/preguntas-frecuentes/ This conditions includes pricing of packages, minimum trading days, maximum loss limits, profit targets, funded staged benefits and others.
3. If you successfully pass the evaluation, you will progress to verification of rules fulfillment and KYC. 
4. The evaluation stages use demo trading accounts. Successful completion of these stages does not guarantee funding but makes you eligible for consideration.
5. In the event of any discrepancy or conflict between these terms and the specific conditions outlined in the Evaluation section, the terms specified in the Evaluation section shall prevail and take precedence.
6. The provider reserves the right to change the evaluation rules at any time, with such changes becoming effective upon their update in the respective section of the platform. Notwithstanding, the user will be subject to the rules that were in effect at the time of their purchase.

FUNDUP Trader Program

1. 1.  If you pass the evaluation stage, you may be offered a contract to participate in our FUNDUP Trader Program.This offer will be extended through an online interview with the purpose of getting to know you, congratulating you, and initiating the next stage.
   2. As a FUNDUP Trader, you will receive a specified amount of virtual funds to trade in the demo environment with the aim of generating a notional net profit.
   3.  Your performance as a FUNDUP Trader will be permanently monitored, and you will receive payouts based on the notional profits generated, as detailed in these terms, the funded agreement, the schedule of assessment and the trading stage rules.
   4.  You must sign and agree to the FUNDUP Stage Agreement, which outlines the rules and conditions of the FUNDUP stage.

• Once approved, the candidate will be invited for funding, which will be accepted upon signing the contract. If the contract is not signed within 30 days, it will be considered a declination of the funding offer.

6. Trading Program Stages Rules

 

Characteristic	START CHALLENGE (2-Phase Challenge)	EXPRESS CHALLENGE (1-Phase Challenge)
Price (USD)	$97 (10K), $227 (25K), $327 (50K), $497 (100K)	$197 (10K), $297 (25K), $397 (50K), $597 (100K)
Profit Target	8% (Phase 1), 5% (Phase 2)	9%
Max Static Drawdown	10%	6%
Max Dynamic Daily Drawdown	5%	3%
Max Trading Days (per phase)	Unlimited	Unlimited
Minimum Trading Days	5 Days	5 Days
Minimum Days for Withdrawal	21 Days (after being funded)	30 Days (after being funded)
Weekend Trading	Not permitted	Not permitted
High-Impact News Trading	Permitted in Phases 1 and 2, not permitted in funded accounts	Permitted in Phase 1, not permitted in funded accounts
Profit Consistency	Not required in phases, required in funded accounts	Required in both phase and funded accounts
Lot Consistency	Not required	Required
Profit Cap	7% in funded accounts	5% in funded accounts
Leverage	1/100	1/100
Inactivity Period	30 Days	30 Days
Copy Trading	Permitted	Not Permitted
Hedging	Not permitted	Not permitted
Use of EAs or Bots	Permitted	Not Permitted
High-Frequency Trading (HFT)	Not permitted	Not permitted
Mandatory Stop Loss/Take Profit	Not required in phases, required in funded accounts	Not required in phase, required in funded accounts
Profit Sharing	Up to 90%.	Up to 80% of the total
Refund on Fourth Withdrawal	Available in funded accounts	Available in funded accounts
Order Stacking	Not permitted	Not permitted
Night Trading	Not permitted	Not permitted

Definitions:

Night trading: refers to the buying and selling outside regular market hours, using electronic platforms during extended sessions such as after-hours or pre-market trading. 

Profit Target: The required percentage of account growth that traders must achieve to successfully complete an evaluation phase and progress to the next stage.

Max Static Drawdown: The maximum allowable loss on the account balance from the initial starting balance, fixed throughout the evaluation or funded stage.

Max Dynamic Daily Drawdown: The maximum allowable loss calculated on the trader's equity or balance within a single trading day, dynamically adjusted based on performance.

Max Trading Days (per phase): The maximum number of calendar days within which a trader must complete the evaluation or achieve the phase objectives.

Minimum Trading Days: The minimum number of trading days required to fulfill the conditions for completing an evaluation phase, ensuring consistent activity.

Minimum Days for Withdrawal: The minimum number of trading or calendar days a trader must remain active on the account before requesting their first withdrawal.

Weekend Trading: A provision specifying whether traders are allowed to keep positions open or initiate trades during weekends when the market is closed.

High-Impact News Trading: The rules governing trading during significant economic or political events, typically referencing events classified as "high-impact" by platforms like ForexFactory.

Profit Consistency: A requirement that ensures traders achieve profits consistently across trades and days, rather than relying on a few high-risk trades for performance.

Lot Consistency: A guideline to ensure traders maintain a consistent lot size in their trades, preventing excessive variation that indicates high-risk strategies.

Profit Cap: A limit placed on the total profit a trader can earn within a specific trading period, designed to maintain risk management standards.

Leverage: The ratio that defines the amount of borrowed funds a trader can use relative to their account balance, enabling larger position sizes.

Inactivity Period: The maximum allowable duration for which a trader can remain inactive on their account without penalty or disqualification.

Copy Trading: The prohibition or allowance of replicating trades from another trader's account or signal provider using automation or manual methods.

Hedging: The practice of taking offsetting positions in the same or correlated instruments to reduce risk, subject to specific rules set by the firm.

Use of EAs or Bots: The policy on using Expert Advisors (EAs) or automated trading bots for trading, often varying between evaluation and funded stages.

High-Frequency Trading (HFT): Rules surrounding strategies that involve executing a large number of trades within short time frames, often subject to additional restrictions.

Mandatory Stop Loss/Take Profit: The requirement for traders to set predefined stop-loss and take-profit levels on all trades to ensure effective risk management.

Profit Sharing: The percentage of profits shared between the trader and the prop firm in funded stages, often specified in the agreement.

Refund on Fourth Withdrawal: A policy where the firm reimburses a trader's evaluation fee upon completing a certain number of successful withdrawals, typically the fourth.

Order Stacking: The prohibition or restriction on placing multiple trades in the same direction for the same instrument, exceeding a defined limit.

 

7. Use of the Services

7.1 The services and content provided on the Website, including but not limited to text, graphics, logos, and software, are the property of the Provider or its licensors and are protected by intellectual property laws.

7.2 You are granted a limited, non-exclusive, non-transferable license to use the services for personal, non-commercial purposes in accordance with these GTC.

7.3You may not copy, modify, distribute, sell, or lease any part of the services or content without our prior written consent.

7.4 Any unauthorized use of the intellectual property of FUNDUP FZCO, including but not limited to the copying, distribution, or creation of derivative works from the content provided, is strictly prohibited and will be pursued to the fullest extent of the law.

7.5 FUNDUP is a registered trademark.

Paas. The USERS shall access and use the PaaS in compliance with any regulatory applications, laws, and statutes applied. 

1. The USERS is responsible for all instructions and communications through PaaS, related and associated to the USERS's identity and/or password, and such instructions shall be binding on the USERS.  
2. The USERS has in place all necessary security and compliance procedures required by any applicable laws and regulations to prevent violation of PaaS and/or unauthorised access to PaaS which might result in computer viruses or other harmful codes into the PaaS. 
3. The USERS will take all reasonable care to safeguard all passwords, access codes, or other accesses issued to the USERS from time to time by COMPANY and will take all appropriate actions not to authorise or permit any other person to authorise access to PaaS through such issued passwords. 
4. The USERS will immediately notify COMPANY of any unauthorised use of the USERS's issued passwords and/or access codes and will continue to be held responsible for any transaction and or communication associated to the USERS's issued passwords and/or access codes even if these have been entered through PaaS unauthorised. COMPANY will have no liability and accepts none for any transactions made by the USERS's Authorised Users, should any change to the USERS's Authorised Users not have been communicated to COMPANY. 
5. The USERS will use the PaaS only to access applications covered by this Agreement and will not publish, transmit or otherwise disseminate any content of the PaaS in violation of what is agreed herein and further the USERS will not use the PaaS to post or transmit any information that is deemed to be considered as libellous or slanderous and the USERS agrees to hold COMPANY fully indemnified from any such claim made by any third party.
6. The USERS agrees to use the PaaS in accordance with industry standards, best practices, and laws. Using mechanics of the PaaS to defraud customers is not tolerated. Specific cases include, but are not limited to: Promoting the operation of the PaaS to appear to be a trustworthy USERS to accept deposits but not provide actual trading services as expected by individuals who invest with the USERS.

Rules of Demo Trading

During the demo trading, you may perform any transactions, unless these constitute forbidden trading practices as outlined below.

 Forbidden Trading Practices include but are not limited to:

1. Exploiting errors in the services such as errors in display of prices or delay in their update.
2. Performing trades using an external or slow data feed.
3. Performing trades in contradiction with the terms and conditions of the Provider and the trading platform.
4. Using any software or tools that manipulate or abuse the trading system.
5. Engaging in any trading behavior that is not reflective of actual market practices.
6. If you engage in any Forbidden Trading Practices, the Provider may terminate your access to the services and cancel your account without refund.

8. Privacy and Data Protection

1.  Your personal data is processed in accordance with our Privacy Policy, which is available on the Website.
2. By using our services, you consent to the collection, use, and disclosure of your personal information as described in the Privacy Policy.

 

Limitation of Liability - Disclaimer

1.  The services are provided "as is" without any warranties, express or implied. The Provider does not guarantee that the services will be uninterrupted or error-free.
2.  The Provider is not liable for any indirect, incidental, or consequential damages arising from the use of the services.
3. The Provider's total liability for any claims arising from these GTC or the use of the services is limited to the amount paid by you for the services.
4. The Provider is not responsible for ensuring compliance with financial regulations applicable to your trading activities. It is your sole responsibility to comply with any applicable laws and regulations in your jurisdiction.
5. All content published and distributed by FUNDUP OU and its affiliates (collectively, the "Company") should be treated as general information only. None of the information provided by the Company or contained herein is intended to constitute investment advice, an offer or solicitation of an offer to buy or sell, or a recommendation, approval or sponsorship of any security, company or fund.
6. Use of the information contained on the Company's websites is at the user's and the Company's own risk and no liability is assumed for any use or misuse of such information. Nothing contained herein constitutes a solicitation or offer to buy or sell any futures, options or foreign exchange contracts. Past performance and examples are not necessarily indicative of future results.
7. The Provider makes no representations or warranties as to the accuracy, completeness, or timeliness of the information provided through the services.
8. The Provider is not liable for any damages or losses arising from your use of the services or reliance on any information provided.
9.  It is your responsibility to ensure compliance with all applicable laws and regulations regarding your trading activities.

 

Termination

 

1. You may terminate your account at any time by notifying us via email.
2. The Provider may terminate or suspend your account and access to the services if you violate these GTC or engage in any unlawful or prohibited activity.
3. The contract may be terminated by either party earlier in accordance with these GTC. The contract terminates automatically and with immediate effect in case the Customer during Evaluation does not open at least one demo trade during a period of 30 consecutive days.
4.  Upon termination, you must cease all use of the services and return or destroy any copies of materials obtained from the Website.
5. In the event that the user cancels their account, there shall be no entitlement to any refund for any amounts paid.

Amendments to Terms

1. The Provider reserves the right to modify these GTC at any time. Changes will be posted on the Website, and continued use of the services constitutes acceptance of the revised Terms.
2. The Provider reserves the right to change the evaluation and OU stages criteria at its sole discretion. Any changes will be communicated to you in advance, and continued participation in the program constitutes acceptance of the new criteria.

 

Governing Law and Legal Provisions

1. These GTC are governed by the laws of the Estonia. Any disputes arising from these Terms will be subject to the exclusive jurisdiction of the courts in Estonia.
2. The Provider has not adopted any consumers codes of conduct.
3. These GTC constitute the complete terms and conditions agreed between you and the Provider and supersede all prior agreements relating to the subject matter of the GTC, whether verbal or written.
4. The terms outlined herein shall be supplemented by the conditions regarding evaluation and funding as specified on the website. These conditions, as mentioned in the clauses above, form an integral part of this agreement.
5. Nothing in these GTC is intended to limit any legal claims set out elsewhere in these GTC or arising from the applicable law. If the Provider or any third party authorized thereto does not enforce the compliance with these GTC, this can in no way be construed as a waiver of any right or claim.
6. The Provider may assign any claim arising to the Provider from these GTC or any agreement to a third party without your consent. You agree that the Provider may, as the assignor, transfer its rights and obligations under these GTC 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 these GTC or any agreements or parts thereof, or any receivables arising from them, in whole or in part, to any third party.

 

Communication

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

 

1.  Our contact e-mail address is legal@funduptrading.com

 

These GTC shall enter into force and effect on 15 july 2024.