GENERAL TERMS AND CONDITIONS
These Terms and Conditions of The Trading Pit Challenge GmbH (the “GTC”, "Terms") govern your rights and obligations in connection with the use of the Stock Exchange Challenges and services offered by The Trading Pit Challenge GmbH ("Stock Exchange Challenges", "Challenges" or "Services", “Provider”), primarily through the website www.thetradingpit.com (the "Website"). You are requested to read these Terms very carefully. You are under no obligation to use the Services or participate in the Stock Exchange Challenges if you do not agree with or understand any part of these Terms. You should also only use the Services if you understand and agree to these Terms. By using our Services or participating in the Challenges offered, you confirm that you accept these Terms and agree to abide by them.
The Provider reserves the right to change the conditions at any time and at its sole discretion. Changes to these terms and conditions will be communicated in writing, preferably by e-mail. If you do not agree with the changes, you have the right to object to them. If you do not object to the changes within 2 weeks after receiving the notification, the changes will be deemed accepted by you. In the event of an amendment to these GTC, the Client will be informed separately of the right to object and the legal consequences of silence.
Deviating or conflicting terms and conditions shall not become part of these terms and conditions unless we have expressly agreed to them.
1. GENERAL PROVISIONS
1.1 These GTC govern your ("you", "your", “user” or the "Client") rights and obligations in connection with the use of the Stock Exchange Challenges or services offered by The Trading Pit Challenge GmbH, trading as The Trading Pit ("TTP", "TTP Challenge GmbH", "we", "our" or the "Provider"), a company registered in the Commercial Register of the Office of Justice of the Principality of Liechtenstein under registration number FL-0002.693.417-1, with its registered office at Heiligkreuz 6, 9490 Vaduz, Liechtenstein.
1.2 By registering through our website, at the latest by using the Services for the first time, you enter into a contract with the Provider, the subject of which is the provision of the Services you have chosen. The GTC are an integral part of such contract and by entering into the contract with the Provider you agree to these GTC.
1.3 The Provider offers its Services only to persons who are of legal age. Therefore, the Services are intended only for persons over the age of 18 who reside in a country where the Services are available. By registering on our website, you confirm that you are over 18 years of age. If you are under 18, you may not use the Services. You acknowledge that your access to and use of the Services may be restricted or prohibited by law in some countries, and you agree to access and use the Services only in accordance with applicable laws.
1.3 Upon registering on the Provider’s website, you must provide your full correct name and residential address, which correspond to the government issued identification and proof of residence document respectively. You acknowledge that verification of the identity may be completed only on the first payout and any inconsistencies between the account name and identity documents provided may lead to cancellation of the payout and closure of the user account. You are prohibited from opening multiple Client profiles by registering with different email addresses. The identification process will identify such instances, resulting in the termination of all associated Client profiles and accounts, and the forfeiture of any respective remuneration.
1.3 Third Party payments are not allowed. The name on the user account registered with The Trading Pit, the name on the purchase transactions within the user account and the name of the person receiving the payouts for the respective user account, must all be the same. Purchases using payment methods of different persons to the person registered for the account with The Trading Pit will be refunded and the user account will be closed. Attempted payouts to third parties will lead to the cancellation of the payout and closure of the user account.
1.4 The services consist of the provision of instruments for simulated foreign exchange trading (Stock Exchange Challenges) on all available financial markets, the provision of analytical instruments, training and educational materials and other additional services, in particular via the Client Portal or by providing access to applications provided by the Provider or by third parties. The services provided by third parties include, in particular, various webinars and educational courses.
Financial market information is used for simulated trading within the scope of the offered Stock Exchange Challenges; however, you acknowledge that any trading you perform through the Services within the scope of the offered Stock Exchange Challenges is not real. You also acknowledge that the funds provided to you for demo trading are fictitious and that you have no right to dispose of such 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 have no right to receive any payout of such funds. Unless expressly agreed otherwise, you will not receive any compensation or profits based on the results of your simulated trading, nor will you be required to bear any losses.
1.5 None of the services provided to you by the Provider can be considered as investment services within the meaning of the applicable laws. The Provider does not provide you with, and the Provider does not accept from the User, any instructions, directions or information about how or in what manner you should effect transactions when using the Services or in the Exchange Challenges, or any other similar information about the investment instruments traded by you on the demo account. None of the Services constitutes investment advice or recommendations. The staff, employees or representatives of The Trading Pit Challenge GmbH are not authorized to provide investment advice or recommendations. This also applies to any third party service providers unless they are authorized to do so. No liability is assumed for the actions of the Client or any third parties to whom the user grants access in violation of the law.
1.6 The processing of the user's personal data is carried out in accordance with the separate data protection notice of the operator of the website, The Trading Pit Challenge GmbH and its group companies, The Trading Pit AG, The Trading Pit Champions GmbH and The Trading Pit Limited.
1.7 The meaning of the definitions, expressions and abbreviations used in these GTC can be found in clause 15 below.
2. SERVICES OFFERED
2.1 You can order the services offered by The Trading Pit Challenge GmbH via the Website or register for the Stock Exchange Challenges there by filling in the relevant registration or order form. After registration, we will send you the login data for the Client Portal and/or the trading platform by e-mail and enable you to access them.
2.2 The presentation of our services on the website does not constitute a binding offer on our part. Only when you order a service, there is a binding offer on your part. If this offer is accepted by us, we will send you an order confirmation by e-mail. Only with acceptance by us, the corresponding contract is concluded.
2.3 Services include but are not limited to various Challenges; these products may differ in the scope of services provided (e.g., by the risk parameters set on the demo account).
2.4 All data that you provide to us via the registration or order form, the Client Portal or otherwise must be complete, truthful and up-to-date. You must notify us immediately of any changes to your data by email to [email protected]. The Client is responsible for ensuring that all data provided is accurate and up to date; the Provider is not obliged to check the data on an ongoing basis.
2.5 You acknowledge that if you provide or indicate a trade number, tax ID number or similar information in the registration or order form or in the Client Portal, you shall be deemed to be an entrepreneur (trader) for the purposes of these GTC and when using the Services, and the provisions of these GTC or applicable law granting rights to consumers shall not apply to you.
2.6 The fees for Challenges vary depending on the challenge type and the asset selected. More detailed information about each option and its fees can be found on our website at the respective challenge page. The Provider reserves the right to provide the Services also on individually agreed terms. All individually agreed terms are determined by the Provider at its sole discretion. Individual discounts and other benefits are not cumulative unless otherwise expressly agreed by the Provider.
2.7 The fee is paid for access to the Challenge or to the services provided as part of Challenge. The Client is not entitled to a refund of the fee if the Client cancels or terminates the use of the Services prematurely (e.g. started trading but does not complete the Challenge), does not comply with the terms and conditions of Challenge or violates these GTC.
2.8 If the Client raises unjustified objections in relation to the Fee paid or reclaims the Fee paid from the Client's bank or payment service provider (e.g. through chargeback, dispute resolution services or other similar services), on the basis of which cancellation or refund of the Fee or any part thereof is requested, the Provider shall be entitled, at its sole discretion, to cease providing any Services to the Client and also to refuse to provide any Services in the future.
2.9 The Provider reserves the right to unilaterally change the fees and content of the Services and Challenges at any time, including the requirements for their successful implementation, or to discontinue them. The change may affect the services and challenges that were ordered or booked before the notification of the change. The Provider will endeavor to inform you in advance of the changes becoming effective and you have the right to cancel the contract.
2.10 The data entered in the registration form can be checked, corrected and changed until the binding registration or order. The booking of the services requested by you is made by sending the registration form. The Provider will immediately confirm receipt of your booking to your e-mail address. In the case of the Challenge, the contract is concluded upon payment of the fee for the selected option (more on this in section 3.4), which has as its object access to Challenge and, if this is successfully completed, access to the Earning Phase. We archive the contract in electronic form and provide information in accordance with the GDPR and Liechtenstein DSG.
2.11 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 use of the Trading Platform), at your own risk and expense. The Website is accessible through the most common web browsers. 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 that the Services are compatible with any particular device or software program.
2.12 You acknowledge that trading platform operators are individuals or entities different from the Provider and that their own terms and conditions and privacy policies apply when you use their services and products. Before submitting the registration form, you are required to read these terms and conditions and privacy policies. This also applies to any third-party providers whose service - e.g. webinars or educational courses - you book.
2.13 If the Client places an unusually large number of orders for the Services within an unreasonably short period of time, the Provider may notify the Client through the Client Portal or by email or telephone as a protective measure to curb potentially harmful or gambling behavior by the Client or a third party. If such inappropriate behavior continues after such notification, we reserve the right to suspend all further orders of the Services by the Client. If we determine that the unusual behavior under this clause is related to the Client's involvement in prohibited trade practices, we may take the actions set forth in clause 5 of these GTC.
3. TERMS OF PAYMENT
3.1 The fees are calculated in EUR. The fee can also be paid in other currencies listed on the website and a corresponding amount will be charged in a currency other than EUR. In case of payment of the fee in a currency other than EUR, the fee amount for the selected option will be converted using the current exchange rate of our payment provider. The Client acknowledges that in case of payment in a currency other than the currency selected by the Client on the Website, the amount will be converted according to the exchange rate applicable at the time of payment.
3.2 The service fees are inclusive of all taxes. If the Client is an entrepreneur (trader), he is obliged to fulfill his tax obligations in connection with the use of our services in accordance with applicable law and, in the event of an obligation, to duly pay taxes or other duties.
3.3 You can pay the fee for the selected option using one of the available payment options that we currently offer and that are listed on our website.
3.4 In case of payment by a payment card or other express payment method, the payment shall be made immediately. The Client shall bear all fees charged to the Client by the selected payment service provider (according to the valid price list of the payment service provider) in connection with the transaction, and the Client is obliged to ensure that the respective fee for the selected option is paid in full.
4. CLIENT PORTAL
4.1 Only one Client Portal is allowed per Client and all services of the Client must be maintained in the Client Portal.
4.2 Access to the Client Portal and the trading platform is protected by login data. All logins are individualized and may only be used by the authorized user. The user is obliged to keep login and password secret and to protect them from unauthorized access by third parties. If there is a suspicion of misuse by third parties, the user will inform the Provider immediately. The Provider reserves the right to change the login and password of a User; in such a case, the Provider shall inform the Client immediately.
4.3 If the Provider permits and the Client has registered as a legal entity, the Provider may allow the Client's employees or other authorized employees and representatives to use the Services through the Client's Portal.
4.4 The Client is responsible for all activities carried out through the Client Portal or the Client Trading Platform. The Provider shall not be responsible and the Client shall not be entitled to any compensation for any misuse of the Client Portal, the Trading Platform or any part of the Services, nor shall the Provider be responsible for any negative consequences resulting therefrom for the Client if such misuse occurs for reasons that are on the Client's side.
4.5 The Client acknowledges that the Services may not be available 24/7, in particular with regard to maintenance, upgrades or for other reasons. In particular, the Provider shall not be responsible for and the Client shall not be entitled to any compensation for the unavailability of the Client Portal or the Trading Platform and for any damage to or loss of data or other content that you upload, transfer or store via the Client Portal or the Trading Platform.
4.6 The Client may request the deletion of the Client Portal at any time by sending an e-mail to [email protected]. Sending a request for deletion of the Client Portal shall be considered as a request for termination of the Contract by the Client, in which case the Client shall no longer be entitled to use the Services, including the Client Portal and the Trading Platform. The Provider shall immediately confirm receipt of the request to the Client by e-mail, which shall terminate the contractual relationship between the Client and the Provider. In such a case, the Client shall not be entitled to a refund of any fees already paid or any other costs incurred. Please note that the processing of data in this case is carried out in accordance with clause 1.6 of these GTCs and in accordance with our separate data protection notice.
5. RULES FOR DEMO TRADE
5.1 During demo trading on the Trading Platform, you may execute all Transactions unless they involve prohibited trading strategies or practices as defined in Clause 5.4 below. You also agree to comply with the standard market rules and practices for trading on the financial markets (e.g. risk management rules). Restrictions may also be imposed by the trading conditions of the trading platform you have selected for trading.
5.2 You acknowledge that the Provider has access to information about the Demo Trades that you execute on the Trading Platform. You consent to the Provider disclosing this information to persons/entities that have a group relationship with the Provider or are otherwise affiliated with the Provider, and you consent and authorize the Provider and such persons/entities to handle this information as they see fit in accordance with the GDPR. You agree that these activities may be carried out automatically without requiring any further consent or authorization from you and that you are not entitled to any compensation or revenue in connection with the Provider's use of the Data. The Provider understands that you are not providing any investment advice or recommendations to the Provider through your Demo Trade. You acknowledge that you may suspend your Demo Trading on the Trading Platform at any time.
5.3 The Provider bears no responsibility for the information displayed on the Trading Platform, nor for any interruptions, delays or inaccuracies in the market information displayed via your Client Portal.
5.4 PROHIBITED TRADING PRACTICES.
1. During demo trading, the following is prohibited:
2. knowingly or unknowingly use trading strategies to exploit errors in the Services, such as errors in displaying prices or delays in updating them;
3. Conducting business with an external or slow data feed;
4. acting alone or in concert with others, including between linked accounts or accounts maintained at different The Trading Pit group companies, to engage in transactions or combinations of transactions designed to manipulate trading, such as by taking opposing positions at the same time;
5. Execute trades in contradiction with the terms and conditions of the Provider and the trading platform;
6. Use software, artificial intelligence, ultra-high speed or bulk data entry that could manipulate, abuse or give you an unfair advantage in the use of our systems or services; or
7. Otherwise transact business in a manner inconsistent with the manner in which trading is conducted on any of the financial markets made available by the Provider or in a manner that gives rise to a reasonable concern that the Provider may suffer financial or other harm as a result of the Client's activities.
8. In addition, Client shall not take advantage of the Services by executing trades without applying standard market risk management rules for trading in the financial markets, which includes, but is not limited to, the following practices: (i) opening substantially larger position sizes relative to Client's other trades, whether in this or another Client Account; or (ii) opening a substantially smaller or larger number of positions relative to Client's other trades, whether in this or another Client Account. Provider reserves the right to determine, in its sole discretion, whether certain trades, practices, strategies or situations constitute prohibited trading practices.
9. During demo trading the Provider does not allow abusive strategies which may or may not include the following or any other strategies in a way that establishes justified concerns that the Provider or the broker or execution venue might suffer financial harm or other harm as a result of the Client’s activities.
10. It is prohibited to perform any trading method which uses exploitation of price discrepancies or glitches within different markets of similar or identical assets, also known as Arbitrage trading.
11. It is prohibited to perform High-frequency trading strategies in which the majority of the trades duration span is measured by a few seconds or less.
12. It is prohibited to perform bracketing strategies (opening pending orders) around high-impact news. Trading 2 minutes before and after the release of financial news is not allowed.
13. It is prohibited to involve any other technology which interferes with the platform’s networking.
14. It is prohibited to:
15. intentionally or unintentionally employ trading strategies that take advantage of errors within the system, such as inaccuracies in price display or delays in updates.
16. execute trades using external feeds.
17. manipulate trading by executing trades alone or in collaboration with others, including between connected accounts or accounts held with different entities, or by entering into opposing positions simultaneously.
18. utilize any software, AI, ultra-high speed, or mass data entry that manipulates, misuses, or gives an unfair advantage when using the system or services.
19. perform gap trading. Gap trading is strictly prohibited when:
i. Trades are executed in anticipation of major global news, macroeconomic events, or corporate earnings reports specifically when such events are likely to impact the prices of financial instruments in the relevant market.
ii. Trades are opened 2 hours or less before the closing of a financial market that is scheduled to be closed for 2 hours or longer, exploiting expected price gaps upon market reopening.
20. execute trades in a way that contradicts how trading is conducted in the financial market, or in a way that raises concerns that the Provider may suffer financial or other harm as a result of the Client’s actions (e.g. overleveraging, overexposure, one-sided bets, account rolling).
21. Exploiting Price discrepancies between the Provider’s platform feed and other feeds
22. Trade coordination or copytrading with other traders or accounts
23. It is prohibited to involve Expert Advisors which scalp during the rollover-night, using market or pending orders.
24. When using trading robots (Expert Advisors – EAs), especially with the use of an EA from a third party, there might be other traders already using the same EA and therefore exactly the same strategy. Having the same strategy amongst a group of traders is prohibited.
25. By using a third-party EA, and which the Client does not own the source code, the Client potentially runs a risk of being denied passing the Challenge, and proceeding to the Scaling Plan.
26. EA´s that performs any of the following activities are prohibited:
i. copy trades of other person signals
ii. do tick scalping
iii. perform latency arbitrage trading
iv. perform reverse arbitrage trading
v. perform hedge arbitrage trading
vi. use emulators
27. Any demo accounts using these types of EAs will be canceled, banned, and not refunded.
5.5 Other prohibited trading practices:
1. Excessive or Unrealistic Trading Volume: Engaging in an excessive or unrealistic number of lots/contracts traded within a single day is prohibited.
2. Lot Size Manipulation: Traders are prohibited from using significantly smaller lot sizes to reach profit targets after executing one large trade, in an attempt to fulfill minimum trading day requirements. If the account review reveals a substantial difference in lot sizes used to pass the minimum time rule, the challenge will be considered failed.
3. Non-Speculative Trading Behaviour: The trading program is designed to accommodate all speculative trading strategies. Any trading style that deviates from speculative trading behaviour is prohibited.
4. Rollover Scalping Arbitrage: Engaging in activities that exploit interest rate differences on currency pairs through rollover scalping arbitrage is prohibited.
5. Contradictory Trading Practices: Executing trades that contradict standard trading practices in the forex market or any other financial market, or that raise concerns about potential financial or operational harm to the service provider, is prohibited. This includes actions such as overleveraging, overexposure, one-sided bets, and account rolling.
6. Unrealistic Fills: Using large lot sizes and closing positions within a minimal number of pips without accounting for slippage, resulting in unrealistic fills, is prohibited.
5.6 Gambling Policy:
1. This Gambling Policy governs the use of trading balance/equity for opening positions by traders with The Trading Pit. The primary purpose of this policy is to establish responsible trading practices and discourage actions resembling excessive risk-taking and gambling behaviours.
2. Balance/Equity Usage Guidelines: Traders are expected to adhere to the following trading rules when utilizing their trading balance/equity for position opening:
3. Maximum Risk Allocation: Traders are strictly prohibited from utilizing a disproportionate portion of their account balance or equity amount to open positions. Responsible allocation must be maintained.
4. Position Sizing: Traders must determine position sizes based on the de-fined risk allocation percentage, market conditions, and stop-loss levels. Position sizing should align with responsible risk management practices.
5. Diversification: The Firm encourages traders to diversify their trading strategies and instruments. Concentrating excessively on a single trade or a limited number of trades is discouraged to minimize the impact of adverse market movements on the overall portfolio.
6. Gambling Behaviour Definition:
a. We consider a trader’s trading behaviour as “gambling” if it breaks any of the terms laid out in this policy by The Trading Pit. Genuine traders, consistent traders, beginners, and advanced traders who use a method and a consistent style of trading are not prone to violating the gambling policy as laid out by The Trading Pit and understand that trading requires a method and consistency.
7. Monitoring and Enforcement:
a. The Trading Pit may periodically review traders' adherence to the guidelines outlined in this policy. In the event of a breach, appropriate actions may be taken, including but not limited to restricting trading activity or access to trading facilities and canceling of payouts generated via these gambling practices.
8. Challenge and Risk Management:
a. The Challenges were created with the goal of producing consistent traders rather than gambling traders, and it also aims to reflect a realistic trading scenario by asking traders to observe and practice sound risk management.
5.7 In addition to the terms outlined in this Clause 5, the Client acknowledges and agrees that the list of Prohibited Trading Practices and Gambling Policy Terms stated herein is non-exhaustive and may be subject to modification at the sole discretion of the Provider. The most up-to-date list of prohibited trading practices can be found on the Provider’s website at https://www.thetradingpit.com/faq/what-are-your-prohibited-trading-practices The Provider reserves the right, at its sole discretion, to consider and identify any other practices not explicitly mentioned in this clause that may pose a risk to the trading platform or related services. The Provider may, in response to such risks, take any measures and actions it deems necessary to mitigate the identified risks. The purpose of this clause is to establish a framework for identifying and addressing activities that pose a risk to the integrity and reputation of the trading platform and related services provided by the Provider.
5.8 If the Client engages in any of the prohibited trading practices described in this Clause 5 the Provider may take one or more of the following actions:
(i) Consider this as a failure to comply with the terms of the relevant Challenge of The Trading Pit, potentially disqualifying the Client from further participation or progression within the challenge or any associated benefits.
(ii) The Provider may remove the Transactions in violation of the prohibition from the Client's trading history and/or not include their results in the profits and/or losses generated by the Demo Trading. This action aims to maintain the integrity of the trading history and ensure that prohibited practices do not influence overall trading performance records.
(iii) The Provider reserves the right to immediately terminate all Services provided to the Client and subsequently terminate this Agreement. Such action will be taken to safeguard the Provider, other traders, and the broader trading ecosystem from the risks associated with prohibited trading practices.
(iv) Additionally, the Provider may also take remedial actions such as reducing the Client's leverage to mitigate risks associated with excessive exposure and to encourage adherence to sound risk management practices. This measure aims to reinforce responsible trading and align the Client's actions with the established guidelines and risk parameters
5.9 If any or all of the Prohibited Trading Practices are carried out on one or more of The Trading Pit Demo Accounts of a Client or on accounts of different Clients or by combining trading through The Trading Pit Demo Accounts of the same Client or of different Clients, the Provider shall be entitled to cancel all Services and terminate all relevant contracts in respect of all The Trading Pit Demo Accounts of the Client. Provider may take any of the actions set forth in Clause 5 at its sole discretion.
5.10 If The Trading Pit Demo Accounts are used for or involved in the prohibited trading practices, this may also constitute a violation of the respective terms and conditions for the third party demo trading accounts and may result in the cancellation of all such user accounts and termination of the respective agreements by the third party provider.
5.11 If the Client repeatedly engages in any of the practices described in Clause 5 and the Provider has previously notified the Client thereof, the Provider may deny the Client access to all or part of the Services, including access to the Client Portal and the Trading Platform, without any compensation. In such a case, the Client shall not be entitled to a refund of the fees paid.
5.12 The Provider shall not bear any responsibility for trading or other investment activities that the Client performs outside the relationship with the Provider, e.g. by using data or other information from the Client Portal, the trading platform or in any other way in connection with the services in real trading on the financial markets, even if the Client uses the same trading platform for such trading that it uses for demo trading. This shall also apply in particular to any services of third parties which the Client uses via the platform - e.g. within the scope of webinars or educational courses.
5.13 Developments on the financial markets are subject to frequent and abrupt changes. Trading on the financial markets may not be profitable and may result in significant financial losses. Any past performance and profits of the Client in demo trading are not a guarantee or indication of future developments or developments in any real trading by the Client.
6. THE CHALLENGE
6.1 After paying the fee for the selected The Trading Pit Challenge, (“Challenge”), the Client will receive the corresponding login data for the trading platform to the e-mail address provided by the Client or in the Client Portal. The Client activates the Challenge at the moment when he/she has paid the corresponding fee for the offer. IF YOU ARE A CLIENT, YOU ACKNOWLEDGE THAT BY OPENING THE FIRST DEMO TRADE, YOU EXPRESSLY REQUEST THE PROVIDER TO PROVIDE THE SERVICES BEFORE THE EXPIRATION OF THE WITHDRAWAL PERIOD, WHICH AFFECTS YOUR RIGHT OF WITHDRAWAL, AS FURTHER DETAILED IN CLAUSE 11 BELOW. If you do not activate the Challenge within 21 calendar days of the date it was provided to you, you will no longer have access to it and we will cease providing the Services without any right to a refund.
6.3 If the Client has fulfilled the conditions of the Challenge as specified in the Challenge rules communicated on the website and at the same time has not violated these GTC, in particular the rules of demo trading according to Clause 5, the Provider shall evaluate the Challenge as passed. The Provider does not have to evaluate the Challenge if the Client has not closed all trades.
6.4 In case of Challenges with 2 Phases, the Client activates the Phase 2 by opening the first demo trade on the trading platform. If the client does not activate Phase 2 within 21 calendar days from the day he/she received the new login details, he/she will no longer have access to Phase 2 and we will terminate the provision of the services without any right to a refund of the fee.
6.6 In order for the Client to meet the conditions for passing a Challenge, the Client must comply with the following:
6.6.1 The Client has fulfilled the conditions of the respective Phase(s) as described on the website.
6.6.2 The Client has not violated these GTC, in particular not violated the rules of demo trading according to Clause 5; and
6.7 If during the Challenge the Client fails to meet any of the conditions set forth in Section 6.6, the Challenge will be assessed as failed and the Client will not be granted access to the Earning Phase. In this case, the Client's account and services will be terminated without refund of the fees already paid.
6.9 The Client has the right to reset his/her account at any time during the Challenge as long as more than one (1) calendar day remains in the challenge. This will reset the account balance and payout limits, but not the calendar day countdown. The Client will have the remaining days since the purchase of the Challenge.
6.10. The Client may extend his/her account at any time during the Challenge as long as the account has not been traded empty and more than one (1) calendar day remains in the Challenge. Purchasing an extension will give the Client an additional number of calendar days for the current account. Previous progress will be maintained and the Client's account will not change after the purchase. The extend option is not available for Challenges with no expiration period.
7. THE EARNING PHASE
If the Client successfully completes a Challenge, he/she must sign the terms of a Signal Provider Agreement (“SPA”) in order to be accepted in the Earning Phase. The Signal Provider Agreement and these General Terms and Conditions together constitute the entire agreement between the parties (the "Full Legal Terms") and govern all aspects of the legal relationship in the Earning Phase.
8. USE OF THE WEBSITE, SERVICES AND OTHER CONTENT
8.1 The Website and all Services, including the Client Portal, its appearance, and all applications, data, information, multimedia elements such as text, drawings, graphics, design, icons, images, audio and video samples, and any other content that may comprise the Website and Services (collectively, the "Content"), are subject to legal protection under copyright laws and other legal provisions and are owned by Provider or its licensors. Provider grants you a limited, non-exclusive, non-transferable, non-assignable and revocable license to use the Content for the purpose of using the Services for your personal use and in accordance with the purpose for which the Services are provided. The Content is not sold or otherwise transferred to you and remains the property of Provider or its licensors.
8.2 All trademarks, logos, trade names and other designations are the property of the Provider or its licensors, and the Provider does not grant you permission to use them. Clients are prohibited from publishing the Provider's company logo or trademark on their own marketplace. Only a link to The Trading Pit homepage and the use of the Affiliate Trading Program logo - if a partnership exists - is allowed.
8.3 Both the Client and the Provider undertake to act honestly in the performance of the Contract and, in particular, not to damage the reputation and legitimate interests of the other party. The Client and the Provider shall resolve any disagreements or disputes between them in accordance with these GTC and applicable law.
8.4 Except for the rights expressly set forth in these GTC, Provider does not grant you any other rights with respect to the Services and Other Content. You may use the Services and Other Content only as set forth in these GTC.
8.5 When accessing the Services and other Content, the following is prohibited:
8.5.1 Use tools that may interfere with the operation of the Site and Services or that are designed to exploit errors, bugs or other inadequacies of the Site and Services;
8.5.2 Circumvent geographical restrictions on availability or other technical limitations;
8.5.3 Make copies or backups of the Website and other content;
8.5.4 Modify, decompile, disassemble, or otherwise alter the Site or any other content;
8.5.5 Sell, rent, loan, license, distribute, reproduce, disseminate, stream, broadcast or otherwise use the Services or any other Content other than as permitted under these GTC;
8.5.6 Use automated means to view, display or collect information available through the Site or Services; and
8.5.7 Use any other tools or means that could cause harm to the provider.
8.5.8 The provisions of this clause 8 are not aimed at depriving the Client of his consumer rights, which cannot be excluded by law.
9. DISCLAIMER
9.1 The Provider's servers are secured in accordance with the state of the art, in particular by firewalls. You acknowledge that the Services and other Content are provided "as is" with all their faults, defects and inadequacies and that their use is at your sole responsibility and risk. To the fullest extent permitted by law, Provider disclaims all warranties of any kind, statutory, contractual, express or implied, including any warranties of quality, merchantability, fitness for a particular purpose or non-infringement.
9.2 Claims of the Client for damages are excluded. Excluded from this are claims for damages by the Client arising from injury to life, limb or health or from the breach of essential contractual obligations (cardinal obligations) as well as liability for other damages based on an intentional or grossly negligent breach of duty by the Provider, its legal representatives or vicarious agents. Material contractual obligations are those whose fulfillment is necessary to achieve the objective of the contract. In the event of a breach of material contractual obligations, the Provider shall only be liable for the foreseeable damage typical for the contract if such damage was caused by simple negligence, unless the Client's claims for damages are based on injury to life, body or health. The above limitations of liability shall also apply to the legal representatives and vicarious agents of the Provider if claims are asserted directly against them.
9.3 To the extent permitted by mandatory provisions of applicable laws, Provider shall not be liable for any damages, including indirect, incidental, special, punitive or consequential damages, including lost profits, lost data, personal or other non-monetary damages or property damage caused by the use of the Services or reliance on any tool, functionality, information or other content available in connection with the use of the Services or elsewhere on the Website. Provider is not responsible for any third-party products, services, applications or other content that Client uses in connection with the Services. This includes, in particular, any third-party trading platforms, webinars or training courses that the Client may book via the Platform. If the Provider's liability in connection with the operation of the Website or the provision of the Services is derived by a court or other competent authority, such liability shall be limited to the amount corresponding to the fee paid by the Client for the Services in connection with which the Client incurred the damage.
9.4 The Provider reserves the right to modify, change, replace, add or remove elements and functions of the Services at any time and without compensation. In particular, the Provider reserves the right to block third party providers or remove their offer from the platform if infringements of the law become known.
9.5 The Provider shall not be liable for failure to provide the purchased Services if such failure is due to serious technical or operational reasons beyond its control, in case of crisis or impending crisis, natural disaster, war, riot, pandemic, threat to a large number of people or other force majeure events and/or if the Provider is prevented from providing the Services due to legal obligations or a decision of a public authority.
9.6 Claims based on liability for material defects shall remain unaffected. The provisions in clause 9 of these terms and conditions are not intended to deprive the Client of its consumer or other rights that cannot be excluded by law.
10. COMMUNICATION
10.1 You acknowledge that any communication on the part of the Provider or its partners in connection with the provision of Services will be made via the Client Portal, the telephone number or your e-mail address that you register with us. Written electronic communication by email or through the Client Portal will also be considered written communication.
10.2 Our contact email address is [email protected] and our contact address is Heiligkreuz 6, 9490 Vaduz, Liechtenstein.
10.3 The contract language is German. Any English translations are only for the better understanding of English-speaking users. The German version is the only legally binding version.
11. Cancellation and refund
11.1 Information about the right of withdrawal for digital content and services:
You have the right to revoke this contract within 14 days without giving any reason. The revocation period is fourteen days from the conclusion of the contract. To exercise your right of revocation, you must inform us (THE TRADING PIT Challenge GmbH, Heiligkreuz 6, 9490 Vaduz, Phone: +4232379000 , e-mail: [email protected]) by means of a clear statement (e.g. a letter sent by post or an e-mail) of your decision to withdraw from this contract.
11.2 To comply with the revocation period, it is sufficient that you send the notification of the exercise of the right of revocation before the expiry of the revocation period.
11.3 Consequences of the revocation:
If you revoke this contract, we shall reimburse you all payments we have received from you, including delivery costs (with the exception of additional costs resulting from the fact that you have chosen a type of delivery other than the favorable standard delivery offered by and), without undue delay and no later than within fourteen days from the day on which we received the notification of your revocation of this contract. For this refund, we will use the same means of payment that you used for the original transaction, unless expressly agreed otherwise with you; in no case will you be charged any fees because of this refund. If you have requested that the services begin during the revocation period, you waive the right to request a refund.
11.4 Expiry of the right of refund:
Your right of revocation expires as soon as we have started the execution of the contract, unless you have expressly agreed that we should start the execution of the contract before the expiry of the revocation period and you have confirmed your knowledge that you thereby lose your right of revocation.
11.5 PLEASE NOTE THAT YOU WILL LOSE YOUR RIGHT OF REVOCATION IF YOU BEGIN CONDUCTING DEMO TRADES PRIOR TO THE EXPIRATION OF THE SPECIFIED TIME PERIOD.
12. OUT-OF-COURT SETTLEMENT OF DISPUTES
12.1 Our goal is for our Clients to be satisfied with The Trading Pit services; therefore, we are happy to resolve any complaints or suggestions directly with you, and you may contact us at our email address or at our address listed in clause 11.1 above.
12.2 This section applies only to a Client who is also a resident of the EU.
13. CHOICE OF LAW AND JURISDICTION
13.1 Liechtenstein law shall apply to the legal relationships established by or connected with these GTC as well as to all non-contractual legal relationships connected therewith. The place of jurisdiction for all disputes is - if permissible - Vaduz. The Provider is also entitled to sue at the general place of jurisdiction of the Client.
13.2 The provisions of the above clause 13.1 do not deprive Clients of the protection afforded to them by the mandatory legal provisions of the relevant Member State of the European Union or any other legal system.
14. FINAL PROVISIONS
14.1 These GTC constitute the complete terms and conditions agreed upon between you and the Provider and supersede all prior agreements, whether oral or written, relating to the subject matter hereof.
14.2 The European Commission provides a platform for out-of-court online dispute resolution. You can find this platform at the following link: https://ec.europa.eu/consumers/odr/. We do not participate in a system for alternative dispute resolution within the meaning of the ODR Regulation or in consumer arbitration within the meaning of the Consumer Dispute Resolution Act (VSBG) and are not legally obliged to do so.
15. DEFINITIONS, EXPRESSIONS AND ABBREVIATIONS USED
15.1 For purposes of the GTC, the following definitions shall have the following meanings:
15.1.1 "Client Portal" means the user interface on the website www.thetradingpit.com;
15.1.2 "Content" means the Website and all Services, including the Client Portal, its appearance and all applications, data, information, multimedia elements such as text, drawings, graphics, design, icons, images, audio and video samples and other content that may constitute the Website and Services (as set out in clause 8.1 above);
15.1.3 "Client" means the user of the Services or Exchange Challenges (as the case may be) as set out in Clause 1.1 above;
15.1.4 "The Trading Pit Challenge" or “Challenge” means demo trading accounts related to trading evaluations provided as part of the Services by Provider;
15.1.5 "The Trading Pit Demo Account" means a demo trading account relating to The Trading Pit Earning Phase provided by a Third Party Provider;
15.1.6 "Prohibited Trading Practices" are trading practices that are strictly prohibited in the use of our Services and are further explained in Clause 5 of these GTC;
15.1.7 "GTC" means these General Terms and Conditions of The Trading Pit Challenge GmbH;
15.1.8 "Provider" means the provider of certain Services (as set out in Clause 1.1 above);
15.1.9 "Services" means the services of Provider as described in clauses 1.1 and 1.4 above;
15.1.10 "Trading Platform" means an electronic interface provided by a Third Party through which the Client conducts Demo Trading; and
15.1.11 "Website" means the website www.thetradingpit.com.
15.2 For the purposes of the GTC, the following expressions and abbreviations shall have the following meanings:
15.2.1 "Calendar Day" means the period from midnight to midnight of the time currently in effect in Liechtenstein (Central European Time, CET);
15.2.2 "EUR" means the Euro;
15.2.3 "USD" means the United States dollar;
15.2.4 "CHF" means the Swiss Franc.