Propywise, operating under Merga Trading Limited (Registration No. 120814), headquartered at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, presents the following Terms of Service (referred to as the "Terms"). These Terms define the obligations and responsibilities associated with your (referred to as the "Customer" or "Counterparty") use of the challenges and services offered by Merga Trading Limited (collectively referred to as "Propywise Challenges," "Challenges," "Evaluation," or "Services," and collectively, the "Provider"). Access to these services is primarily provided through the www.propywise.com website (referred to as the "Website").
Customers are strongly encouraged to read these Terms thoroughly. If you disagree with or do not fully understand any aspect of these Terms, you are not required to use the Services or participate in Propywise Challenges. It is crucial that the Customer engages with the Services only after understanding and agreeing to these Terms. By using the Services or participating in any Propywise Challenges, the Customer confirms their acceptance of the Terms and agrees to abide by them.
By accessing our website or participating in any of our Challenges, the Customer agrees to adhere to these Terms and Conditions, along with any related terms, conditions, and policies linked or referenced within the site. These Terms of Service apply to all users of the website, including, but not limited to, browsers, vendors, customers, merchants, and content creators.
We advise all users to carefully review these Terms of Service prior to using any part of the website. Accessing or using the website signifies your acceptance of these Terms of Service. If the Customer does not agree to every provision of these Terms, they may not access the website or use any of the available services. In the event that these Terms of Service are interpreted as an offer, acceptance is strictly limited to these Terms. The Services are only accessible to individuals aged 18 and above, who reside in countries where the Services are legally available. The list of countries where the Provider does not offer services is available for review.
Should additional features or tools be added to the website in the future (including within customer accounts), they will also be subject to these Terms of Service. The latest version of the Terms can be viewed on this page at any time. Propywise reserves the right to modify, update, or replace any portion of these Terms at any time by posting the changes directly on the website. It is the Customer’s responsibility to periodically check for updates. The continued use or access to the website following the posting of any changes signifies the Customer's acceptance of those updates.
In accordance with applicable laws.
None of the services offered to the customer by the provider shall be considered investment services. The provider does not offer or provide any guidance, instructions, or information to the customer regarding how transactions should be conducted while using the services, nor does the provider offer any advice on the specific investment tools being traded. The provider does not accept or act on any such guidance or instructions from the customer. The services and any information provided do not constitute investment advice. The provider's employees, staff, and representatives are not authorized to give investment advice or recommendations. Should any statement or information from the provider's employees, staff, or representatives be interpreted as investment advice or recommendations, the provider unequivocally disclaims such interpretations and shall not be held liable for them.
We may grant third-party entities access to our website for the purpose of debugging and/or maintaining issues related to the website, database, or infrastructure. These access points are closely monitored and will be limited once the specific task is completed.
The Customer is required to pay registration fees in order to gain access to the Propywise platform, tools, and services. If the service has commenced (e.g., the Customer has initiated trading) or the Customer fails to successfully complete the Evaluation, the registration fee will not be refunded. All payments are final and intended solely for the evaluation process.
Terms of Online Registration
By agreeing to these Terms of Service, the Customer confirms that they have reached the legal age required in their respective state or province of residence. As a condition for using the Services, the Customer agrees not to participate in any illegal or unauthorized activities, including but not limited to the violation of copyright laws. Should the Customer breach any of these Terms, their access to the Services will be immediately terminated.
General Conditions
The Provider retains the right to deny service to anyone at any time for any reason. The Customer acknowledges that their content (excluding credit card information), which is not considered sensitive, may be transmitted unencrypted and may involve (a) transfers across various networks and (b) modifications necessary to meet the technical requirements of connected networks or devices. Credit card information is always encrypted during its transmission over networks. Without the explicit written consent of the Provider, the Customer agrees not to reproduce, copy, sell, resell, or exploit any portion of the Service, its use, or access to it, or any contact on the website through which the Service is offered. The headings included in this agreement are for convenience only and do not affect the interpretation of the Terms.
Information Accuracy, Completeness, and Timeliness
The Customer acknowledges that the Services and content provided are on an "as is" basis, including any faults, defects, or shortcomings, and that using such Services and content is entirely at their own risk. While the Provider strives to ensure all information is accurate and current, it acknowledges that technology may present certain limitations. As such, the Customer accepts these potential limitations and agrees to utilize the Services with that understanding. To the fullest extent allowed by law, the Provider disclaims all warranties, whether statutory, express, or implied, including but not limited to any warranties of merchantability, fitness for a particular purpose, or non-infringement of rights.
Changes to the Service and Prices
The prices for products and services are subject to change without notice. The Provider reserves the right to modify or discontinue the Service (including any offered accounts or any part of the content) at any time and without notice. The Provider will not be held liable to the Customer or any third-party for any modification, price change, suspension, or discontinuation of the Service.
Products or Services
The Provider reserves the right, but is not obligated, to restrict the sale of its products or services to any individual, geographic area, or jurisdiction. This discretion may be exercised on a case-by-case basis. Additionally, the Provider retains the authority to limit the quantities of any products or services offered. All descriptions of products or pricing are subject to change at any time without prior notice, at the sole discretion of the Provider. The Provider also reserves the right to discontinue any product at any time. Any offer for a product or service on this website is void where prohibited by law.
The Provider makes no guarantee that the quality of any products, services, information, or other materials purchased or obtained by the Customer will meet their expectations, nor does it warrant that any errors in the Service will be corrected.
By registering on the Website and/or the Mobile Application, the Customer agrees to receive emails from the Provider, including promotional content. Should the Customer wish to opt-out of receiving such communications, they may do so at any time by clicking the "Unsubscribe" link in any email from the Provider or by reaching out to the Provider's Support Service. The Provider commits to promptly processing the Customer’s request to unsubscribe from all email communications, excluding transactional notifications.
Account Information and Billing Accuracy
The Provider reserves the right to refuse any order submitted to them. At the Provider's sole discretion, restrictions may be placed on the quantity of items purchased per person, per household, or per order. These limitations may apply to orders placed through the same customer account, credit card, and/or those using the same billing or shipping address. In the event of an order change or cancellation, the Provider will attempt to notify the Customer using the contact details provided during the order process. The Provider also reserves the right to limit or cancel orders that, in its sole judgment, appear to be placed by dealers, resellers, or distributors.
The Customer agrees to provide current, complete, and accurate purchase and account information for all purchases made through the Provider's website. The Customer is also responsible for promptly updating their account and other relevant information, including email addresses, credit card numbers, and expiration dates, to facilitate transaction processing and communication.
Additional Resources
The Provider may grant the Customer access to third-party tools over which the Provider has neither control nor input. The Customer acknowledges and agrees that access to such tools is provided "as is" and "as available," without any warranties, representations, or conditions of any kind, and without endorsement. The Provider assumes no liability whatsoever for any issues arising from or related to the Customer's use of optional third-party tools.
Any use of optional tools provided through the site is entirely at the Customer's own risk and discretion, and it is the Customer's responsibility to familiarize themselves with the terms on which these tools are provided by the relevant third-party providers. The Provider may also introduce new services or features through the website, such as additional tools and resources. Any such new services or features will be subject to these Terms of Service.
External Links
Certain content, products, and services offered via the Provider's Service may include materials sourced from third parties. Links to third-party websites on the Provider's site may direct the Customer to external websites not affiliated with the Provider. The Provider is not responsible for assessing or verifying the content or accuracy of such third-party websites and accepts no liability for any third-party materials, websites, or services.
The Provider will not be held liable for any harm or damages resulting from transactions made in connection with third-party websites. It is the Customer's responsibility to review the policies and practices of third parties carefully and ensure they understand them before engaging in any transaction. Any concerns, claims, or issues related to third-party products should be addressed directly to the third party.
Comments, Feedback, and Other Submissions from Users
The Customer agrees that the Provider may, at any time and without restriction, edit, copy, publish, distribute, translate, or otherwise use in any medium any comments submitted by the Customer, whether online, via email, postal mail, or other means. The Provider is not, and shall not be, obligated to (1) maintain any comments in confidence; (2) pay compensation for any comments; or (3) respond to any comments.
The Provider may, but is not required to, monitor, edit, or remove content that the Provider deems, at its sole discretion, to be unlawful, offensive, threatening, libelous, defamatory, obscene, or otherwise objectionable, or which violates any party’s intellectual property or these Terms of Service.
The Customer represents and warrants that any comments they submit do not violate the rights of third parties, including copyrights, trademarks, privacy, personality, or other personal or proprietary rights. The Customer further represents and warrants that their comments will not contain libelous or otherwise unlawful, abusive, or obscene material, nor any viruses or malware that could impact the operation of the Service or any related website. The Customer is not to use a false email address, impersonate another person, or otherwise mislead the Provider or third parties as to the origin of any comments. The Customer assumes full responsibility for the accuracy and legality of any comments they post. The Provider takes no responsibility for any comments posted by the Customer or any third party.
Both the Customer and the Provider agree to conduct all interactions under this agreement with the utmost fairness and respect. Any conduct harmful to the reputation or legitimate interests of either party is strictly prohibited. This agreement imposes a duty on both parties to refrain from such harmful conduct during and after the duration of the trading relationship. Disputes should be resolved according to the terms of this agreement and applicable laws. Any violation of these provisions may result in immediate legal action, including cease-and-desist orders or other remedies to protect the rights and interests of the aggrieved party.
Personal Information
The provision of personal data through the website is regulated by the Provider's Privacy Policy.
Know Your Customer (KYC)
Propywise, in line with legal and regulatory obligations, has implemented robust and thorough procedures regarding Know Your Customer (KYC), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD).
Know Your Customer (KYC):
The objectives of the KYC process are as follows:
– Establish an efficient and streamlined process for identifying and verifying potential Counterparties.
– Reduce the risk of money laundering by collecting and assessing relevant data.
– Assist in the detection of suspicious activity by identifying discrepancies in the information provided.
KYC verification must be completed by the individual account holder exclusively. Any attempt by multiple individuals to perform KYC verification for a single account is strictly forbidden. If such violations are identified, the Provider reserves the right to immediately terminate the account.
Customer Due Diligence (CDD):
Customer Due Diligence is a crucial process for establishing and maintaining relationships with Counterparties. The CDD framework involves:
– Gathering verifiable identification data from Counterparties to confirm their identity beyond doubt.
– Gaining a clear understanding of the Counterparty’s trading objectives, including strategies to be used and an assessment of their financial market expertise.
– Continuously monitoring trading activities to ensure alignment with the stated trading strategies, risk profile, and financial capabilities of the Counterparty.
Enhanced Due Diligence (EDD):
For relationships or transactions deemed to pose a higher risk, as determined by Propywise's internal risk assessments, Enhanced Due Diligence (EDD) will be applied. EDD involves measures that go beyond standard CDD, including:
– Acquiring additional identity verification documents, especially where standard documents are insufficient or questionable.
– Conducting an in-depth interview, possibly including a video call, to personally engage with the Counterparty and thoroughly assess their legitimacy.
– Developing a deeper understanding of the Counterparty's trading methodology to ensure compliance with Propywise's risk tolerance and ethical trading standards.
– Implementing ongoing, enhanced monitoring of the Counterparty’s trading activities to ensure continued compliance with the agreed practices and risk limits.
Know Your Customer (KYC) Procedures by Propywise:
Propywise will apply KYC protocols to all transactions and business relationships. As part of the standard KYC process, Propywise will take the following steps to ensure transparency:
– Verify the identity of the Counterparty using original or certified documents, which will be initiated after successful completion of the challenge phases.
– Start the verification process by scanning a QR code. The Counterparty will be provided with instructions to choose their preferred method.
– Request specific documents from the Counterparty, such as a valid photo ID (National ID, Passport, or Driver's License).
– Expired documents will not be accepted; only up-to-date and valid documents will be used for verification.
– Once the necessary documents are provided, the Counterparty will proceed to the “Agreement Signing” stage. They must submit their full name, address, and accept the terms in the agreement. The verification process may take 48 - 72 hours.
– Propywise requires strict adherence to these procedures and reserves the right to refuse or terminate any business relationship if the CDD, EDD, or KYC requirements are not met.
– Failure to successfully complete the KYC verification process will result in the rejection of the Counterparty’s application for a Propywise account.
Restricted Uses
The Customer is strictly prohibited from utilizing the site or its content for any of the following: (a) any illegal activities; (b) soliciting others to engage in or participate in unlawful actions; (c) violating any applicable international, federal, provincial, or state regulations, laws, or local ordinances; (d) infringing upon or violating the intellectual property rights of Propywise or those of others; (e) engaging in harassment, abuse, insult, harm, defamation, slander, disparagement, intimidation, or discrimination based on gender, sexual orientation, religion, ethnicity, race, age, national origin, or disability; (f) submitting false or misleading information; (g) uploading or transmitting viruses or any other type of malicious code that could affect the functionality or operation of the Service, any related website, other websites, or the Internet. Propywise reserves the right to immediately terminate the Customer's use of the Service and any associated website if any of these restrictions are violated.
Export Restrictions (Terms & Conditions) – Propywise, operating in a different capacity, does not offer its products via MasterCard, Visa, JCI, AMEX, or any other payment methods to countries subject to sanctions by the U.S. Government, United Nations, or other jurisdictions. These restricted countries include Russia, Burma (Myanmar), Iran, Sudan, Syria, North Korea, Afghanistan, Albania, Belarus, the Central African Republic, Cuba, the Democratic Republic of the Congo, Ethiopia, Iraq, Lebanon, Libya, Mali, Nicaragua, Somalia, South Sudan, Turkey, Ukraine, Venezuela, Yemen, and Zimbabwe. This policy aligns with global efforts to combat fraud, money laundering, and terrorism financing, as enforced by agencies such as the Office of Foreign Assets Control (OFAC) and the Financial Action Task Force (FATF). Additionally, Propywise does not offer its products or services to customers in Bangladesh.
Furthermore, Propywise has temporarily suspended its challenges for U.S. clients, including nationals and residents, due to specific market conditions in the United States. However, we reassure our existing clients that our services will continue uninterrupted, and we remain committed to delivering value to traders across the globe.
Prohibited Trading Practices
1.1. The Customer is strictly prohibited from executing trades that violate the rules outlined in this section or the FAQ. Any trades found to be in breach of these rules are not allowed. The Customer is required to adhere to the guidelines provided in this section, as well as those stated in the FAQ when using the Services.
1.1.1. The Customer must refrain from employing trading strategies that exploit system errors, such as inaccuracies in displayed prices or delays in updates, including practices commonly referred to as Latency Trading, whether intentional or unintentional.
1.1.2. Trades executed using external or slow data feeds or gap trading are not permitted.
1.1.3. Coordinating trades either individually or with others across linked accounts or within the platform for the purpose of manipulating the market, commonly known as "Group Trading," is forbidden. This includes tactics such as entering opposing positions simultaneously.
1.1.4. The use of software, artificial intelligence, high-frequency trading, or mass data entry that manipulates or abuses the Provider’s systems or provides an unfair advantage is strictly prohibited.
1.1.5. Engaging in arbitrage of any kind—including, but not limited to, triangular arbitrage, statistical arbitrage, latency arbitrage, market-making arbitrage, spatial arbitrage, pairs trading arbitrage, risk arbitrage, convertible arbitrage, volatility arbitrage, dividend arbitrage, tax arbitrage, yield curve arbitrage, or any other method exploiting price differences between markets—is prohibited.
1.1.6. Employing strategies that guarantee the execution of limit orders during low liquidity periods is not allowed, as these do not reflect real market conditions and violate the simulation standards upheld by the Provider.
1.1.7. The Customer must avoid trades that are inconsistent with typical forex or other financial market operations. Activities that could potentially harm the Provider, such as over-leveraging, over-exposure, one-sided bets, grid trading, tick scalping, or account rolling, are also forbidden. These practices may raise concerns about intentional harm to the Provider.
1.1.8. Copy trading, in which trades replicate or mirror those of other traders or entities without prior approval from the Provider, is prohibited.
1.1.9. The Customer is forbidden from engaging third parties to execute trades on their behalf, whether the third party is an individual or professional. Additionally, allowing others to access or trade on the Customer’s Propywise account is not permitted.
1.1.10. The Customer may not access third-party Propywise accounts, trade on behalf of third parties, or provide account management or similar services where they agree to trade or manage an account on behalf of another user.
1.1.11. Opening positions significantly larger than the Customer’s usual trade size, either on this account or any other account they hold, is not allowed.
1.1.12. Opening positions noticeably smaller or larger than the Customer’s other trades, whether on this account or another one of theirs, is prohibited.
1.1.13. The use of excessive margin or highly risky trading strategies is forbidden for the Customer.
1.2. If the Customer engages in any of the prohibited trading practices described in Clause 1.1, the Provider reserves the right to:
1.2.1. Deem the Customer non-compliant with the relevant Challenge terms.
1.2.2. Remove any offending transactions from the Customer’s trading history and/or exclude these results from their profit or loss in Demo Trading.
1.2.3. Terminate all Services provided to the Customer and cancel the agreement.
1.3. If the prohibited trading practices are identified across one or more Propywise accounts of the Customer or any other related accounts, the Provider reserves the right to cancel all Services and terminate all associated contracts. The actions outlined in Sections 1.2 and 1.3 may be taken at the sole discretion of the Provider.
1.4. If the Provider’s Trader accounts are involved in or used for these prohibited trading practices, it may also constitute a violation of the terms for third-party Provider accounts, potentially leading to the cancellation of those accounts and the termination of associated agreements by the third-party provider.
1.5. In cases where the Customer repeatedly engages in these prohibited practices after being notified by the Provider, the Provider may revoke the Customer’s access to all or part of the Services, including the Dashboard and Trading Platform, without any compensation. In this event, the Customer will not be eligible for any refund of fees paid.
1.6. The Provider bears no responsibility for any real-market trading or investment activities conducted by the Customer outside the Provider relationship. This includes any use of data or information from the Customer Portal, trading platform, or other services for real trading, even if the same platform is used for both demo and real trading. This applies especially to third-party services the Customer may access via the platform.
Limitation of Liability; Disclaimer of Warranties
The Provider does not guarantee or assure that the Customer’s use of the service will be free from errors, delays, security issues, or interruptions. The Provider also does not warrant that the outcomes derived from using the service will be precise or dependable. The Customer acknowledges that the Provider may temporarily suspend or permanently terminate the service at any time, with or without prior notice. The Customer agrees that their use of, or inability to use, the service is entirely at their own risk.
All services and products delivered through the Provider’s service are provided on an "as is" and "as available" basis, with no representations, warranties, or guarantees of any kind. This includes but is not limited to any implied warranties of merchantability, fitness for a particular purpose, durability, title, and non-infringement.
Under no circumstances shall the Provider or its directors, officers, employees, affiliates, agents, contractors, interns, suppliers, service providers, or licensors be held liable for any injury, loss, claim, or direct, indirect, incidental, punitive, special, or consequential damages of any kind. This includes, without limitation, lost profits, revenue, savings, data, replacement costs, or any similar damages. Whether the claim is based on contract, tort (including negligence), strict liability, or otherwise, this limitation applies to damages arising from the Customer’s use of the service, any products obtained through the service, or any related claims. This also includes errors or omissions in any content, or any loss or damage of any kind resulting from the use of the service or any content (or product) that is posted, transmitted, or otherwise made available through the service, even if the possibility of such damages was advised.
As some states or jurisdictions do not permit the exclusion or limitation of liability for consequential or incidental damages, the Provider’s liability in such regions will be limited to the greatest extent permissible by applicable law.
Indemnification
The Customer agrees to indemnify, defend, and hold harmless The Provider, its parent company, subsidiaries, affiliates, partners, officers, directors, agents, contractors, licensors, service providers, subcontractors, suppliers, interns, and employees from any claims, liabilities, or demands, including reasonable attorneys' fees, arising from or related to the Customer's violation of these Terms of Service, the associated referenced documents, or the Customer’s infringement of any laws or third-party rights.
Severability
If any provision within these Terms of Service is found to be unlawful, invalid, or unenforceable, such a provision will be enforced to the fullest extent permitted by law. The unenforceable portion shall be regarded as removed, without impacting the validity or enforceability of the remaining terms.
Termination
Any obligations or liabilities incurred prior to the termination date shall remain in effect after this agreement ends, for all applicable purposes. These Terms of Service will continue to apply unless terminated by either the Customer or The Provider. The Customer may terminate these Terms by informing the Provider that they no longer wish to utilize the Services or by discontinuing use of the site.
The Provider reserves the right to terminate this agreement at any time without notice, at its sole discretion, if the Customer fails to comply with any of the provisions of these Terms. Following termination, the Customer remains responsible for any outstanding amounts owed up until the termination date, and the Provider may revoke access to the Services.
Trading Guidelines
The Customer is required to follow the guidelines outlined below. Failure to comply will result in the termination of the account. The Customer must:
2.1.1. Daily Loss Limits: The Customer must not exceed the specified daily loss percentage of the initial account size, including charges and swaps – 5%.
2.1.2. Account Size Maintenance: The account balance must not fall below the specified percentage of the cycle's initial size, accounting for all positions and associated charges and swaps – 90%.
2.1.3. Minimum Trading Days Requirement: The Customer must meet the minimum trading days requirement, which varies by model – 5 days.
2. Technical Flaw Exploitation: Using system flaws for personal gain is strictly prohibited and may result in immediate suspension.
2.1.5. Hedging: Multiple hedged positions are allowed within a single Propywise account, but cross-account hedging within Propywise or with other firms is not permitted.
2.1.6. Costs: All costs associated with the provision of services by the Provider are borne by the Provider.
2.1.7. Applicable Rules: The terms and rules outlined in the FAQ/Rules govern Propywise Challenge accounts.
2.1.8. Modifications by Add-ons and Special Offers: Add-ons and Special Offers chosen during the Propywise Challenge may modify these trading guidelines. These modifications take precedence over the standard guidelines for their duration.
Any violation of the above restrictions will result in the immediate closure of positions on the trading platform, and the Customer’s account may be suspended. In such cases, the Provider reserves the right to terminate this agreement.
Refund Policy
3.1 Customer Termination Request: If a Customer wishes to terminate their Client Section, they must submit a request to support@propywise.com. This request signifies the Customer's intention to end the contractual relationship, resulting in the loss of access to all Services, including the Client Section and Trading Platform. Upon confirmation of the request via email, the contract will be officially terminated. Under these conditions, the Customer forfeits any right to refunds for fees or expenses previously paid.
3.2 Repeated Violations: If the Customer continues to engage in prohibited activities after receiving a warning, the Provider may limit access to all Services without offering compensation. In such cases, no refunds will be granted for any fees paid.
3.3 Service Activation: After paying the fee for the Propywise Challenge program, the Customer will receive their login credentials. By initiating their first trade, the Customer acknowledges and agrees that the Provider will have fulfilled its service obligations, thereby waiving the right to withdraw from the contract during the withdrawal period.
3.4 Non-Activation: Should the Customer fail to activate the Propywise Challenge within 35 calendar days, access will be suspended. Customers can request access renewal by contacting support@propywise.com, subject to applicable terms.
3.5 Disputes and Chargebacks: In the event of an unwarranted fee dispute or chargeback initiated by the Customer, the Provider reserves the right to discontinue services and refuse future services at its discretion.
3.6 Refunds: Refund requests must be made within 7 days of registration if no trading activity has taken place. Once trading begins, fees become nonrefundable, and no provision for full or partial refunds will be available.
Entire Agreement
The Provider's choice not to exercise or enforce any right or provision of these Terms of Service shall not be considered a waiver of such rights or provisions. A waiver of any rights under these Terms of Service will only be valid if it is in writing and signed by the Provider. These Terms of Service, together with any policies or operational rules posted by the Provider on this website or in connection with the Service, form the complete and exclusive agreement between the Customer and the Provider. This agreement governs the Customer's use of the Service, superseding all prior or contemporaneous agreements, communications, and proposals, whether oral or written, between the Customer and the Provider (including any previous versions of the Terms of Service). If any ambiguity or question about intent or interpretation arises, it shall be resolved in an impartial manner, not automatically against the drafting party. This approach does not override any statutory rights the Customer may hold under applicable consumer protection laws that cannot be contractually waived.
Governing Law
These Terms of Service, as well as any supplementary agreements under which the Provider delivers Services to the Customer, are governed and interpreted in accordance with the legal jurisdiction of the Customer.
Local Law
The Customer, as the Counterparty, is responsible for being fully informed of and complying with all local laws and regulations concerning their participation in the Propywise Challenge. The Customer acknowledges that they are participating in the Service at their own risk and assumes full responsibility for their involvement. By using the Service, the Customer affirms they are over the age of 18 and acknowledges that the Provider is not liable for any actions taken by the Customer that may breach local laws. Any such violations are solely the responsibility of the Customer.
Changes to Terms of Service
The Customer’s legal jurisdiction governs and is aligned with these Terms of Service and any other agreements through which the Provider offers Services to the Customer.
Contact Information
Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands
The Customer represents and warrants that any comments they submit do not violate the rights of third parties, including copyrights, trademarks, privacy, personality, or other personal or proprietary rights. The Customer further represents and warrants that their comments will not contain libelous or otherwise unlawful, abusive, or obscene material, nor any viruses or malware that could impact the operation of the Service or any related website. The Customer is not to use a false email address, impersonate another person, or otherwise mislead the Provider or third parties as to the origin of any comments. The Customer assumes full responsibility for the accuracy and legality of any comments they post. The Provider takes no responsibility for any comments posted by the Customer or any third party.
Both the Customer and the Provider agree to conduct all interactions under this agreement with the utmost fairness and respect. Any conduct harmful to the reputation or legitimate interests of either party is strictly prohibited. This agreement imposes a duty on both parties to refrain from such harmful conduct during and after the duration of the trading relationship. Disputes should be resolved according to the terms of this agreement and applicable laws. Any violation of these provisions may result in immediate legal action, including cease-and-desist orders or other remedies to protect the rights and interests of the aggrieved party.
Personal Information
The provision of personal data through the website is regulated by the Provider's Privacy Policy.
Know Your Customer (KYC)
Propywise, in line with legal and regulatory obligations, has implemented robust and thorough procedures regarding Know Your Customer (KYC), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD).
Know Your Customer (KYC):
The objectives of the KYC process are as follows:
– Establish an efficient and streamlined process for identifying and verifying potential Counterparties.
– Reduce the risk of money laundering by collecting and assessing relevant data.
– Assist in the detection of suspicious activity by identifying discrepancies in the information provided.
KYC verification must be completed by the individual account holder exclusively. Any attempt by multiple individuals to perform KYC verification for a single account is strictly forbidden. If such violations are identified, the Provider reserves the right to immediately terminate the account.
Customer Due Diligence (CDD):
Customer Due Diligence is a crucial process for establishing and maintaining relationships with Counterparties. The CDD framework involves:
– Gathering verifiable identification data from Counterparties to confirm their identity beyond doubt.
– Gaining a clear understanding of the Counterparty’s trading objectives, including strategies to be used and an assessment of their financial market expertise.
– Continuously monitoring trading activities to ensure alignment with the stated trading strategies, risk profile, and financial capabilities of the Counterparty.
Enhanced Due Diligence (EDD):
For relationships or transactions deemed to pose a higher risk, as determined by Propywise's internal risk assessments, Enhanced Due Diligence (EDD) will be applied. EDD involves measures that go beyond standard CDD, including:
– Acquiring additional identity verification documents, especially where standard documents are insufficient or questionable.
– Conducting an in-depth interview, possibly including a video call, to personally engage with the Counterparty and thoroughly assess their legitimacy.
– Developing a deeper understanding of the Counterparty's trading methodology to ensure compliance with Propywise's risk tolerance and ethical trading standards.
– Implementing ongoing, enhanced monitoring of the Counterparty’s trading activities to ensure continued compliance with the agreed practices and risk limits.
Know Your Customer (KYC) Procedures by Propywise:
Propywise will apply KYC protocols to all transactions and business relationships. As part of the standard KYC process, Propywise will take the following steps to ensure transparency:
– Verify the identity of the Counterparty using original or certified documents, which will be initiated after successful completion of the challenge phases.
– Start the verification process by scanning a QR code. The Counterparty will be provided with instructions to choose their preferred method.
– Request specific documents from the Counterparty, such as a valid photo ID (National ID, Passport, or Driver's License).
– Expired documents will not be accepted; only up-to-date and valid documents will be used for verification.
– Once the necessary documents are provided, the Counterparty will proceed to the “Agreement Signing” stage. They must submit their full name, address, and accept the terms in the agreement. The verification process may take 48 - 72 hours.
– Propywise requires strict adherence to these procedures and reserves the right to refuse or terminate any business relationship if the CDD, EDD, or KYC requirements are not met.
– Failure to successfully complete the KYC verification process will result in the rejection of the Counterparty’s application for a Propywise account.
Restricted Uses
The Customer is strictly prohibited from utilizing the site or its content for any of the following: (a) any illegal activities; (b) soliciting others to engage in or participate in unlawful actions; (c) violating any applicable international, federal, provincial, or state regulations, laws, or local ordinances; (d) infringing upon or violating the intellectual property rights of Propywise or those of others; (e) engaging in harassment, abuse, insult, harm, defamation, slander, disparagement, intimidation, or discrimination based on gender, sexual orientation, religion, ethnicity, race, age, national origin, or disability; (f) submitting false or misleading information; (g) uploading or transmitting viruses or any other type of malicious code that could affect the functionality or operation of the Service, any related website, other websites, or the Internet. Propywise reserves the right to immediately terminate the Customer's use of the Service and any associated website if any of these restrictions are violated.
Export Restrictions (Terms & Conditions) – Propywise, operating in a different capacity, does not offer its products via MasterCard, Visa, JCI, AMEX, or any other payment methods to countries subject to sanctions by the U.S. Government, United Nations, or other jurisdictions. These restricted countries include Russia, Burma (Myanmar), Iran, Sudan, Syria, North Korea, Afghanistan, Albania, Belarus, the Central African Republic, Cuba, the Democratic Republic of the Congo, Ethiopia, Iraq, Lebanon, Libya, Mali, Nicaragua, Somalia, South Sudan, Turkey, Ukraine, Venezuela, Yemen, and Zimbabwe. This policy aligns with global efforts to combat fraud, money laundering, and terrorism financing, as enforced by agencies such as the Office of Foreign Assets Control (OFAC) and the Financial Action Task Force (FATF). Additionally, Propywise does not offer its products or services to customers in Bangladesh.
Furthermore, Propywise has temporarily suspended its challenges for U.S. clients, including nationals and residents, due to specific market conditions in the United States. However, we reassure our existing clients that our services will continue uninterrupted, and we remain committed to delivering value to traders across the globe.
Prohibited Trading Practices
1.1. The Customer is strictly prohibited from executing trades that violate the rules outlined in this section or the FAQ. Any trades found to be in breach of these rules are not allowed. The Customer is required to adhere to the guidelines provided in this section, as well as those stated in the FAQ when using the Services.
1.1.1. The Customer must refrain from employing trading strategies that exploit system errors, such as inaccuracies in displayed prices or delays in updates, including practices commonly referred to as Latency Trading, whether intentional or unintentional.
1.1.2. Trades executed using external or slow data feeds or gap trading are not permitted.
1.1.3. Coordinating trades either individually or with others across linked accounts or within the platform for the purpose of manipulating the market, commonly known as "Group Trading," is forbidden. This includes tactics such as entering opposing positions simultaneously.
1.1.4. The use of software, artificial intelligence, high-frequency trading, or mass data entry that manipulates or abuses the Provider’s systems or provides an unfair advantage is strictly prohibited.
1.1.5. Engaging in arbitrage of any kind—including, but not limited to, triangular arbitrage, statistical arbitrage, latency arbitrage, market-making arbitrage, spatial arbitrage, pairs trading arbitrage, risk arbitrage, convertible arbitrage, volatility arbitrage, dividend arbitrage, tax arbitrage, yield curve arbitrage, or any other method exploiting price differences between markets—is prohibited.
1.1.6. Employing strategies that guarantee the execution of limit orders during low liquidity periods is not allowed, as these do not reflect real market conditions and violate the simulation standards upheld by the Provider.
1.1.7. The Customer must avoid trades that are inconsistent with typical forex or other financial market operations. Activities that could potentially harm the Provider, such as over-leveraging, over-exposure, one-sided bets, grid trading, tick scalping, or account rolling, are also forbidden. These practices may raise concerns about intentional harm to the Provider.
1.1.8. Copy trading, in which trades replicate or mirror those of other traders or entities without prior approval from the Provider, is prohibited.
1.1.9. The Customer is forbidden from engaging third parties to execute trades on their behalf, whether the third party is an individual or professional. Additionally, allowing others to access or trade on the Customer’s Propywise account is not permitted.
1.1.10. The Customer may not access third-party Propywise accounts, trade on behalf of third parties, or provide account management or similar services where they agree to trade or manage an account on behalf of another user.
1.1.11. Opening positions significantly larger than the Customer’s usual trade size, either on this account or any other account they hold, is not allowed.
1.1.12. Opening positions noticeably smaller or larger than the Customer’s other trades, whether on this account or another one of theirs, is prohibited.
1.1.13. The use of excessive margin or highly risky trading strategies is forbidden for the Customer.
1.2. If the Customer engages in any of the prohibited trading practices described in Clause 1.1, the Provider reserves the right to:
1.2.1. Deem the Customer non-compliant with the relevant Challenge terms.
1.2.2. Remove any offending transactions from the Customer’s trading history and/or exclude these results from their profit or loss in Demo Trading.
1.2.3. Terminate all Services provided to the Customer and cancel the agreement.
1.3. If the prohibited trading practices are identified across one or more Propywise accounts of the Customer or any other related accounts, the Provider reserves the right to cancel all Services and terminate all associated contracts. The actions outlined in Sections 1.2 and 1.3 may be taken at the sole discretion of the Provider.
1.4. If the Provider’s Trader accounts are involved in or used for these prohibited trading practices, it may also constitute a violation of the terms for third-party Provider accounts, potentially leading to the cancellation of those accounts and the termination of associated agreements by the third-party provider.
1.5. In cases where the Customer repeatedly engages in these prohibited practices after being notified by the Provider, the Provider may revoke the Customer’s access to all or part of the Services, including the Dashboard and Trading Platform, without any compensation. In this event, the Customer will not be eligible for any refund of fees paid.
1.6. The Provider bears no responsibility for any real-market trading or investment activities conducted by the Customer outside the Provider relationship. This includes any use of data or information from the Customer Portal, trading platform, or other services for real trading, even if the same platform is used for both demo and real trading. This applies especially to third-party services the Customer may access via the platform.
Limitation of Liability; Disclaimer of Warranties
The Provider does not guarantee or assure that the Customer’s use of the service will be free from errors, delays, security issues, or interruptions. The Provider also does not warrant that the outcomes derived from using the service will be precise or dependable. The Customer acknowledges that the Provider may temporarily suspend or permanently terminate the service at any time, with or without prior notice. The Customer agrees that their use of, or inability to use, the service is entirely at their own risk.
All services and products delivered through the Provider’s service are provided on an "as is" and "as available" basis, with no representations, warranties, or guarantees of any kind. This includes but is not limited to any implied warranties of merchantability, fitness for a particular purpose, durability, title, and non-infringement.
Under no circumstances shall the Provider or its directors, officers, employees, affiliates, agents, contractors, interns, suppliers, service providers, or licensors be held liable for any injury, loss, claim, or direct, indirect, incidental, punitive, special, or consequential damages of any kind. This includes, without limitation, lost profits, revenue, savings, data, replacement costs, or any similar damages. Whether the claim is based on contract, tort (including negligence), strict liability, or otherwise, this limitation applies to damages arising from the Customer’s use of the service, any products obtained through the service, or any related claims. This also includes errors or omissions in any content, or any loss or damage of any kind resulting from the use of the service or any content (or product) that is posted, transmitted, or otherwise made available through the service, even if the possibility of such damages was advised.
As some states or jurisdictions do not permit the exclusion or limitation of liability for consequential or incidental damages, the Provider’s liability in such regions will be limited to the greatest extent permissible by applicable law.
Indemnification
The Customer agrees to indemnify, defend, and hold harmless The Provider, its parent company, subsidiaries, affiliates, partners, officers, directors, agents, contractors, licensors, service providers, subcontractors, suppliers, interns, and employees from any claims, liabilities, or demands, including reasonable attorneys' fees, arising from or related to the Customer's violation of these Terms of Service, the associated referenced documents, or the Customer’s infringement of any laws or third-party rights.
Severability
If any provision within these Terms of Service is found to be unlawful, invalid, or unenforceable, such a provision will be enforced to the fullest extent permitted by law. The unenforceable portion shall be regarded as removed, without impacting the validity or enforceability of the remaining terms.
Termination
Any obligations or liabilities incurred prior to the termination date shall remain in effect after this agreement ends, for all applicable purposes. These Terms of Service will continue to apply unless terminated by either the Customer or The Provider. The Customer may terminate these Terms by informing the Provider that they no longer wish to utilize the Services or by discontinuing use of the site.
The Provider reserves the right to terminate this agreement at any time without notice, at its sole discretion, if the Customer fails to comply with any of the provisions of these Terms. Following termination, the Customer remains responsible for any outstanding amounts owed up until the termination date, and the Provider may revoke access to the Services.
Trading Guidelines
The Customer is required to follow the guidelines outlined below. Failure to comply will result in the termination of the account. The Customer must:
2.1.1. Daily Loss Limits: The Customer must not exceed the specified daily loss percentage of the initial account size, including charges and swaps – 5%.
2.1.2. Account Size Maintenance: The account balance must not fall below the specified percentage of the cycle's initial size, accounting for all positions and associated charges and swaps – 90%.
2.1.3. Minimum Trading Days Requirement: The Customer must meet the minimum trading days requirement, which varies by model – 5 days.
2. Technical Flaw Exploitation: Using system flaws for personal gain is strictly prohibited and may result in immediate suspension.
2.1.5. Hedging: Multiple hedged positions are allowed within a single Propywise account, but cross-account hedging within Propywise or with other firms is not permitted.
2.1.6. Costs: All costs associated with the provision of services by the Provider are borne by the Provider.
2.1.7. Applicable Rules: The terms and rules outlined in the FAQ/Rules govern Propywise Challenge accounts.
2.1.8. Modifications by Add-ons and Special Offers: Add-ons and Special Offers chosen during the Propywise Challenge may modify these trading guidelines. These modifications take precedence over the standard guidelines for their duration.
Any violation of the above restrictions will result in the immediate closure of positions on the trading platform, and the Customer’s account may be suspended. In such cases, the Provider reserves the right to terminate this agreement.
Refund Policy
3.1 Customer Termination Request: If a Customer wishes to terminate their Client Section, they must submit a request to support@propywise.com. This request signifies the Customer's intention to end the contractual relationship, resulting in the loss of access to all Services, including the Client Section and Trading Platform. Upon confirmation of the request via email, the contract will be officially terminated. Under these conditions, the Customer forfeits any right to refunds for fees or expenses previously paid.
3.2 Repeated Violations: If the Customer continues to engage in prohibited activities after receiving a warning, the Provider may limit access to all Services without offering compensation. In such cases, no refunds will be granted for any fees paid.
3.3 Service Activation: After paying the fee for the Propywise Challenge program, the Customer will receive their login credentials. By initiating their first trade, the Customer acknowledges and agrees that the Provider will have fulfilled its service obligations, thereby waiving the right to withdraw from the contract during the withdrawal period.
3.4 Non-Activation: Should the Customer fail to activate the Propywise Challenge within 35 calendar days, access will be suspended. Customers can request access renewal by contacting support@propywise.com, subject to applicable terms.
3.5 Disputes and Chargebacks: In the event of an unwarranted fee dispute or chargeback initiated by the Customer, the Provider reserves the right to discontinue services and refuse future services at its discretion.
3.6 Refunds: Refund requests must be made within 7 days of registration if no trading activity has taken place. Once trading begins, fees become nonrefundable, and no provision for full or partial refunds will be available.
Entire Agreement
The Provider's choice not to exercise or enforce any right or provision of these Terms of Service shall not be considered a waiver of such rights or provisions. A waiver of any rights under these Terms of Service will only be valid if it is in writing and signed by the Provider. These Terms of Service, together with any policies or operational rules posted by the Provider on this website or in connection with the Service, form the complete and exclusive agreement between the Customer and the Provider. This agreement governs the Customer's use of the Service, superseding all prior or contemporaneous agreements, communications, and proposals, whether oral or written, between the Customer and the Provider (including any previous versions of the Terms of Service). If any ambiguity or question about intent or interpretation arises, it shall be resolved in an impartial manner, not automatically against the drafting party. This approach does not override any statutory rights the Customer may hold under applicable consumer protection laws that cannot be contractually waived.
Governing Law
These Terms of Service, as well as any supplementary agreements under which the Provider delivers Services to the Customer, are governed and interpreted in accordance with the legal jurisdiction of the Customer.
Local Law
The Customer, as the Counterparty, is responsible for being fully informed of and complying with all local laws and regulations concerning their participation in the Propywise Challenge. The Customer acknowledges that they are participating in the Service at their own risk and assumes full responsibility for their involvement. By using the Service, the Customer affirms they are over the age of 18 and acknowledges that the Provider is not liable for any actions taken by the Customer that may breach local laws. Any such violations are solely the responsibility of the Customer.
Changes to Terms of Service
The Customer’s legal jurisdiction governs and is aligned with these Terms of Service and any other agreements through which the Provider offers Services to the Customer.
Contact Information
Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands
The Customer represents and warrants that any comments they submit do not violate the rights of third parties, including copyrights, trademarks, privacy, personality, or other personal or proprietary rights. The Customer further represents and warrants that their comments will not contain libelous or otherwise unlawful, abusive, or obscene material, nor any viruses or malware that could impact the operation of the Service or any related website. The Customer is not to use a false email address, impersonate another person, or otherwise mislead the Provider or third parties as to the origin of any comments. The Customer assumes full responsibility for the accuracy and legality of any comments they post. The Provider takes no responsibility for any comments posted by the Customer or any third party.
Both the Customer and the Provider agree to conduct all interactions under this agreement with the utmost fairness and respect. Any conduct harmful to the reputation or legitimate interests of either party is strictly prohibited. This agreement imposes a duty on both parties to refrain from such harmful conduct during and after the duration of the trading relationship. Disputes should be resolved according to the terms of this agreement and applicable laws. Any violation of these provisions may result in immediate legal action, including cease-and-desist orders or other remedies to protect the rights and interests of the aggrieved party.
Personal Information
The provision of personal data through the website is regulated by the Provider's Privacy Policy.
Know Your Customer (KYC)
Propywise, in line with legal and regulatory obligations, has implemented robust and thorough procedures regarding Know Your Customer (KYC), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD).
Know Your Customer (KYC):
The objectives of the KYC process are as follows:
– Establish an efficient and streamlined process for identifying and verifying potential Counterparties.
– Reduce the risk of money laundering by collecting and assessing relevant data.
– Assist in the detection of suspicious activity by identifying discrepancies in the information provided.
KYC verification must be completed by the individual account holder exclusively. Any attempt by multiple individuals to perform KYC verification for a single account is strictly forbidden. If such violations are identified, the Provider reserves the right to immediately terminate the account.
Customer Due Diligence (CDD):
Customer Due Diligence is a crucial process for establishing and maintaining relationships with Counterparties. The CDD framework involves:
– Gathering verifiable identification data from Counterparties to confirm their identity beyond doubt.
– Gaining a clear understanding of the Counterparty’s trading objectives, including strategies to be used and an assessment of their financial market expertise.
– Continuously monitoring trading activities to ensure alignment with the stated trading strategies, risk profile, and financial capabilities of the Counterparty.
Enhanced Due Diligence (EDD):
For relationships or transactions deemed to pose a higher risk, as determined by Propywise's internal risk assessments, Enhanced Due Diligence (EDD) will be applied. EDD involves measures that go beyond standard CDD, including:
– Acquiring additional identity verification documents, especially where standard documents are insufficient or questionable.
– Conducting an in-depth interview, possibly including a video call, to personally engage with the Counterparty and thoroughly assess their legitimacy.
– Developing a deeper understanding of the Counterparty's trading methodology to ensure compliance with Propywise's risk tolerance and ethical trading standards.
– Implementing ongoing, enhanced monitoring of the Counterparty’s trading activities to ensure continued compliance with the agreed practices and risk limits.
Know Your Customer (KYC) Procedures by Propywise:
Propywise will apply KYC protocols to all transactions and business relationships. As part of the standard KYC process, Propywise will take the following steps to ensure transparency:
– Verify the identity of the Counterparty using original or certified documents, which will be initiated after successful completion of the challenge phases.
– Start the verification process by scanning a QR code. The Counterparty will be provided with instructions to choose their preferred method.
– Request specific documents from the Counterparty, such as a valid photo ID (National ID, Passport, or Driver's License).
– Expired documents will not be accepted; only up-to-date and valid documents will be used for verification.
– Once the necessary documents are provided, the Counterparty will proceed to the “Agreement Signing” stage. They must submit their full name, address, and accept the terms in the agreement. The verification process may take 48 - 72 hours.
– Propywise requires strict adherence to these procedures and reserves the right to refuse or terminate any business relationship if the CDD, EDD, or KYC requirements are not met.
– Failure to successfully complete the KYC verification process will result in the rejection of the Counterparty’s application for a Propywise account.
Restricted Uses
The Customer is strictly prohibited from utilizing the site or its content for any of the following: (a) any illegal activities; (b) soliciting others to engage in or participate in unlawful actions; (c) violating any applicable international, federal, provincial, or state regulations, laws, or local ordinances; (d) infringing upon or violating the intellectual property rights of Propywise or those of others; (e) engaging in harassment, abuse, insult, harm, defamation, slander, disparagement, intimidation, or discrimination based on gender, sexual orientation, religion, ethnicity, race, age, national origin, or disability; (f) submitting false or misleading information; (g) uploading or transmitting viruses or any other type of malicious code that could affect the functionality or operation of the Service, any related website, other websites, or the Internet. Propywise reserves the right to immediately terminate the Customer's use of the Service and any associated website if any of these restrictions are violated.
Export Restrictions (Terms & Conditions) – Propywise, operating in a different capacity, does not offer its products via MasterCard, Visa, JCI, AMEX, or any other payment methods to countries subject to sanctions by the U.S. Government, United Nations, or other jurisdictions. These restricted countries include Russia, Burma (Myanmar), Iran, Sudan, Syria, North Korea, Afghanistan, Albania, Belarus, the Central African Republic, Cuba, the Democratic Republic of the Congo, Ethiopia, Iraq, Lebanon, Libya, Mali, Nicaragua, Somalia, South Sudan, Turkey, Ukraine, Venezuela, Yemen, and Zimbabwe. This policy aligns with global efforts to combat fraud, money laundering, and terrorism financing, as enforced by agencies such as the Office of Foreign Assets Control (OFAC) and the Financial Action Task Force (FATF). Additionally, Propywise does not offer its products or services to customers in Bangladesh.
Furthermore, Propywise has temporarily suspended its challenges for U.S. clients, including nationals and residents, due to specific market conditions in the United States. However, we reassure our existing clients that our services will continue uninterrupted, and we remain committed to delivering value to traders across the globe.
Prohibited Trading Practices
1.1. The Customer is strictly prohibited from executing trades that violate the rules outlined in this section or the FAQ. Any trades found to be in breach of these rules are not allowed. The Customer is required to adhere to the guidelines provided in this section, as well as those stated in the FAQ when using the Services.
1.1.1. The Customer must refrain from employing trading strategies that exploit system errors, such as inaccuracies in displayed prices or delays in updates, including practices commonly referred to as Latency Trading, whether intentional or unintentional.
1.1.2. Trades executed using external or slow data feeds or gap trading are not permitted.
1.1.3. Coordinating trades either individually or with others across linked accounts or within the platform for the purpose of manipulating the market, commonly known as "Group Trading," is forbidden. This includes tactics such as entering opposing positions simultaneously.
1.1.4. The use of software, artificial intelligence, high-frequency trading, or mass data entry that manipulates or abuses the Provider’s systems or provides an unfair advantage is strictly prohibited.
1.1.5. Engaging in arbitrage of any kind—including, but not limited to, triangular arbitrage, statistical arbitrage, latency arbitrage, market-making arbitrage, spatial arbitrage, pairs trading arbitrage, risk arbitrage, convertible arbitrage, volatility arbitrage, dividend arbitrage, tax arbitrage, yield curve arbitrage, or any other method exploiting price differences between markets—is prohibited.
1.1.6. Employing strategies that guarantee the execution of limit orders during low liquidity periods is not allowed, as these do not reflect real market conditions and violate the simulation standards upheld by the Provider.
1.1.7. The Customer must avoid trades that are inconsistent with typical forex or other financial market operations. Activities that could potentially harm the Provider, such as over-leveraging, over-exposure, one-sided bets, grid trading, tick scalping, or account rolling, are also forbidden. These practices may raise concerns about intentional harm to the Provider.
1.1.8. Copy trading, in which trades replicate or mirror those of other traders or entities without prior approval from the Provider, is prohibited.
1.1.9. The Customer is forbidden from engaging third parties to execute trades on their behalf, whether the third party is an individual or professional. Additionally, allowing others to access or trade on the Customer’s Propywise account is not permitted.
1.1.10. The Customer may not access third-party Propywise accounts, trade on behalf of third parties, or provide account management or similar services where they agree to trade or manage an account on behalf of another user.
1.1.11. Opening positions significantly larger than the Customer’s usual trade size, either on this account or any other account they hold, is not allowed.
1.1.12. Opening positions noticeably smaller or larger than the Customer’s other trades, whether on this account or another one of theirs, is prohibited.
1.1.13. The use of excessive margin or highly risky trading strategies is forbidden for the Customer.
1.2. If the Customer engages in any of the prohibited trading practices described in Clause 1.1, the Provider reserves the right to:
1.2.1. Deem the Customer non-compliant with the relevant Challenge terms.
1.2.2. Remove any offending transactions from the Customer’s trading history and/or exclude these results from their profit or loss in Demo Trading.
1.2.3. Terminate all Services provided to the Customer and cancel the agreement.
1.3. If the prohibited trading practices are identified across one or more Propywise accounts of the Customer or any other related accounts, the Provider reserves the right to cancel all Services and terminate all associated contracts. The actions outlined in Sections 1.2 and 1.3 may be taken at the sole discretion of the Provider.
1.4. If the Provider’s Trader accounts are involved in or used for these prohibited trading practices, it may also constitute a violation of the terms for third-party Provider accounts, potentially leading to the cancellation of those accounts and the termination of associated agreements by the third-party provider.
1.5. In cases where the Customer repeatedly engages in these prohibited practices after being notified by the Provider, the Provider may revoke the Customer’s access to all or part of the Services, including the Dashboard and Trading Platform, without any compensation. In this event, the Customer will not be eligible for any refund of fees paid.
1.6. The Provider bears no responsibility for any real-market trading or investment activities conducted by the Customer outside the Provider relationship. This includes any use of data or information from the Customer Portal, trading platform, or other services for real trading, even if the same platform is used for both demo and real trading. This applies especially to third-party services the Customer may access via the platform.
Limitation of Liability; Disclaimer of Warranties
The Provider does not guarantee or assure that the Customer’s use of the service will be free from errors, delays, security issues, or interruptions. The Provider also does not warrant that the outcomes derived from using the service will be precise or dependable. The Customer acknowledges that the Provider may temporarily suspend or permanently terminate the service at any time, with or without prior notice. The Customer agrees that their use of, or inability to use, the service is entirely at their own risk.
All services and products delivered through the Provider’s service are provided on an "as is" and "as available" basis, with no representations, warranties, or guarantees of any kind. This includes but is not limited to any implied warranties of merchantability, fitness for a particular purpose, durability, title, and non-infringement.
Under no circumstances shall the Provider or its directors, officers, employees, affiliates, agents, contractors, interns, suppliers, service providers, or licensors be held liable for any injury, loss, claim, or direct, indirect, incidental, punitive, special, or consequential damages of any kind. This includes, without limitation, lost profits, revenue, savings, data, replacement costs, or any similar damages. Whether the claim is based on contract, tort (including negligence), strict liability, or otherwise, this limitation applies to damages arising from the Customer’s use of the service, any products obtained through the service, or any related claims. This also includes errors or omissions in any content, or any loss or damage of any kind resulting from the use of the service or any content (or product) that is posted, transmitted, or otherwise made available through the service, even if the possibility of such damages was advised.
As some states or jurisdictions do not permit the exclusion or limitation of liability for consequential or incidental damages, the Provider’s liability in such regions will be limited to the greatest extent permissible by applicable law.
Indemnification
The Customer agrees to indemnify, defend, and hold harmless The Provider, its parent company, subsidiaries, affiliates, partners, officers, directors, agents, contractors, licensors, service providers, subcontractors, suppliers, interns, and employees from any claims, liabilities, or demands, including reasonable attorneys' fees, arising from or related to the Customer's violation of these Terms of Service, the associated referenced documents, or the Customer’s infringement of any laws or third-party rights.
Severability
If any provision within these Terms of Service is found to be unlawful, invalid, or unenforceable, such a provision will be enforced to the fullest extent permitted by law. The unenforceable portion shall be regarded as removed, without impacting the validity or enforceability of the remaining terms.
Termination
Any obligations or liabilities incurred prior to the termination date shall remain in effect after this agreement ends, for all applicable purposes. These Terms of Service will continue to apply unless terminated by either the Customer or The Provider. The Customer may terminate these Terms by informing the Provider that they no longer wish to utilize the Services or by discontinuing use of the site.
The Provider reserves the right to terminate this agreement at any time without notice, at its sole discretion, if the Customer fails to comply with any of the provisions of these Terms. Following termination, the Customer remains responsible for any outstanding amounts owed up until the termination date, and the Provider may revoke access to the Services.
Trading Guidelines
The Customer is required to follow the guidelines outlined below. Failure to comply will result in the termination of the account. The Customer must:
2.1.1. Daily Loss Limits: The Customer must not exceed the specified daily loss percentage of the initial account size, including charges and swaps – 5%.
2.1.2. Account Size Maintenance: The account balance must not fall below the specified percentage of the cycle's initial size, accounting for all positions and associated charges and swaps – 90%.
2.1.3. Minimum Trading Days Requirement: The Customer must meet the minimum trading days requirement, which varies by model – 5 days.
2. Technical Flaw Exploitation: Using system flaws for personal gain is strictly prohibited and may result in immediate suspension.
2.1.5. Hedging: Multiple hedged positions are allowed within a single Propywise account, but cross-account hedging within Propywise or with other firms is not permitted.
2.1.6. Costs: All costs associated with the provision of services by the Provider are borne by the Provider.
2.1.7. Applicable Rules: The terms and rules outlined in the FAQ/Rules govern Propywise Challenge accounts.
2.1.8. Modifications by Add-ons and Special Offers: Add-ons and Special Offers chosen during the Propywise Challenge may modify these trading guidelines. These modifications take precedence over the standard guidelines for their duration.
Any violation of the above restrictions will result in the immediate closure of positions on the trading platform, and the Customer’s account may be suspended. In such cases, the Provider reserves the right to terminate this agreement.
Refund Policy
3.1 Customer Termination Request: If a Customer wishes to terminate their Client Section, they must submit a request to support@propywise.com. This request signifies the Customer's intention to end the contractual relationship, resulting in the loss of access to all Services, including the Client Section and Trading Platform. Upon confirmation of the request via email, the contract will be officially terminated. Under these conditions, the Customer forfeits any right to refunds for fees or expenses previously paid.
3.2 Repeated Violations: If the Customer continues to engage in prohibited activities after receiving a warning, the Provider may limit access to all Services without offering compensation. In such cases, no refunds will be granted for any fees paid.
3.3 Service Activation: After paying the fee for the Propywise Challenge program, the Customer will receive their login credentials. By initiating their first trade, the Customer acknowledges and agrees that the Provider will have fulfilled its service obligations, thereby waiving the right to withdraw from the contract during the withdrawal period.
3.4 Non-Activation: Should the Customer fail to activate the Propywise Challenge within 35 calendar days, access will be suspended. Customers can request access renewal by contacting support@propywise.com, subject to applicable terms.
3.5 Disputes and Chargebacks: In the event of an unwarranted fee dispute or chargeback initiated by the Customer, the Provider reserves the right to discontinue services and refuse future services at its discretion.
3.6 Refunds: Refund requests must be made within 7 days of registration if no trading activity has taken place. Once trading begins, fees become nonrefundable, and no provision for full or partial refunds will be available.
Entire Agreement
The Provider's choice not to exercise or enforce any right or provision of these Terms of Service shall not be considered a waiver of such rights or provisions. A waiver of any rights under these Terms of Service will only be valid if it is in writing and signed by the Provider. These Terms of Service, together with any policies or operational rules posted by the Provider on this website or in connection with the Service, form the complete and exclusive agreement between the Customer and the Provider. This agreement governs the Customer's use of the Service, superseding all prior or contemporaneous agreements, communications, and proposals, whether oral or written, between the Customer and the Provider (including any previous versions of the Terms of Service). If any ambiguity or question about intent or interpretation arises, it shall be resolved in an impartial manner, not automatically against the drafting party. This approach does not override any statutory rights the Customer may hold under applicable consumer protection laws that cannot be contractually waived.
Governing Law
These Terms of Service, as well as any supplementary agreements under which the Provider delivers Services to the Customer, are governed and interpreted in accordance with the legal jurisdiction of the Customer.
Local Law
The Customer, as the Counterparty, is responsible for being fully informed of and complying with all local laws and regulations concerning their participation in the Propywise Challenge. The Customer acknowledges that they are participating in the Service at their own risk and assumes full responsibility for their involvement. By using the Service, the Customer affirms they are over the age of 18 and acknowledges that the Provider is not liable for any actions taken by the Customer that may breach local laws. Any such violations are solely the responsibility of the Customer.
Changes to Terms of Service
The Customer’s legal jurisdiction governs and is aligned with these Terms of Service and any other agreements through which the Provider offers Services to the Customer.
Contact Information
Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands
