THIS GENERAL SERVICES AGREEMENT is made is made between (1) the undersigned User; ______________________ with the mailing address ______________________ and (2) Alpha Futures Limited, incorporated in England and Wales under Company Number 13719951 with its registered office at 10 Lower Thames Street, Billingsgate, London EC3R 6AF (“Alpha”) and is effective from and including the date of User Acceptance (“Effective Date”) ______________________
BACKGROUND
(A) Alpha is in the business of providing the Available Services (as defined below).
(B) The User agrees to obtain and Alpha agrees to provide the Services on the terms set out in this Agreement.
IT IS AGREED as follows:
The following definitions and rules of interpretation apply in this Agreement.
1.1 Definitions
Alpha Futures Account(s)
either an Evaluation Account or a Qualified Account (as applicable); for the avoidance of doubt, any use of the term “account” in this agreement is not intended to refer to any deposit of money or other property by or belonging to the User, or any custodial, counterparty or other financial account relationship between User and Alpha or any Alpha affiliate.
Alpha Futures Ltd
a company incorporated in England and Wales under Company Number 13719951 with its registered office at 10 Lower Thames Street, Billingsgate, London EC3R 6AF
Trader
a User who is virtually trading through an Evaluation or Qualified Account.
Qualified Account
a Virtual Account with in-built challenge phases which Users must complete.
Available Services
the services as set out on the “Home” page of Alpha Futures’ Site. For the avoidance of doubt, any and all trading activity carried out by Users in connection with the Services or otherwise as relates to the User’s relationship with Alpha Futures will be entirely simulated, notional and virtual, consisting solely of mock transactions based upon published Futures prices and will give rise to no market, delivery, settlement, default, clearing, counterparty, contractual or other economic risk of any kind to the User or Alpha Futures.
Free Trial Account
a limited-use version of a Virtual Account made available to Trial Users (with Alpha Futures making available a selection of the Available Services on a fee-free basis at its discretion). Professional Training the provision by Alpha of know-how materials and other limited support to Users in the aim of such User’s learning the skills and behaviours relevant to virtual trading.
Proprietary Trading
the business of Alpha at its own discretion trading its own money, not that of its Users, to make a profit in the financial markets.
Qualified Trader
a User who is virtually trading through a Qualified Trader Account.
Qualified Trader Account
a Virtual Account offered to Traders, which does not contain in-built challenges who have completed the challenge phases associated with the Evaluation Account.
Services
the services purchased by the User out of the Available Services. The User will be trading on a account.
Site Alpha Futures (alpha-futures.com)
Trial User
the individual who has registered for a Free Trial Account and accepted the terms of this General Services Agreement.
User
the individual who has registered for an Alpha Evaluation Account and accepted the terms of this General Services Agreement.
User Acceptance
the User’s tick box and sign to consent to the terms of this General Services Agreement.
Virtual Account
an account of a User that is registered with Alpha which provides Users access to the Available Services and functionality of the Site.
Virtual Performance Fees
a fee paid to the User based on profit made in the simulated market environment without breaching the account. First two payouts on the account the User receives a 70% Performance Fee, payouts 3 and 4 80%, payouts 5+ on the account the User receives a 90% Performance Fee.
2. FREE TRIAL ACCOUNT
2.1 In consideration of a User’s compliance with the obligations set out in this Agreement, we may from time to time offer a User a Free Trial Account option in respect of the use of the Available Services. The term of any trial period will be set out at the time of the User’s registration as a Trial User.
2.2 During the trial period, no fees shall be due or payable by a User in accordance with clause 8 below. Following expiry of the trial period, this Agreement shall continue in accordance with the terms set out in the remainder of this Agreement.
3. COMMENCEMENT AND PROVISION OF THE SERVICES
3.1 This Agreement shall commence on the Effective Date and shall continue until terminated in accordance with its terms. Alpha shall provide the Services to the User in accordance with this Agreement from the Effective Date.
3.2 If Alpha’s performance of its obligations under this Agreement is prevented or delayed by any act or omission of the User, then, without prejudice to any other right or remedy it may have, Alpha shall be allowed an extension of time to perform its obligations equal to the delay caused by the User.
3.3 Alpha may make non-material changes to the Services to:
3.3.1 reflect changes in applicable laws and regulatory requirements;
3.3.2 to make minor technical adjustments and improvements, for example to address a security threat; and/or
3.3.3 to update digital content, provided that the digital content always matches the description that Alpha provided to Users at the time of purchase.
Alpha may make such changes without notice because such changes do not affect User’s use of the Services.
3.4 If Alpha needs to make material changes to the Services, Alpha will notify the User and should the User so elect, the User may then contact Alpha to cancel the Services before the change takes effect.
4. OTHER TERMS APPLY
4.1 This Agreement refers to the following additional terms, which also apply to the User’s receipt and use of and access to the Services:
4.1.1 Trading Terms and Conditions: Alpha Futures (alpha-futures.com);
4.1.2 Website Terms of Use: Alpha Futures (alpha-futures.com);
4.1.3 Community Guidelines: Alpha Futures Help Center (alpha-futures.com);
4.1.4 Privacy Policy: Alpha Futures (alpha-futures.com);
4.1.5 Wise Terms of Use: Wise (wise.com).
5. USER RIGHTS TO WITHDRAW FROM THIS AGREEMENT
5.1 Users have 14 days after the date the Services are first made available to them to change their mind about the purchase and request a refund (“Cancellation Window”). If a User has accessed the Services within the Cancellation Window it will be provided with a pro-rata refund of the fees paid for the Services.
5.2 If a User changes its mind and would like a refund it must contact Alpha’s Customer Service Team within the Cancellation Window: [[email protected]]. Alpha will refund Users as soon as possible and within 14 days of receipt of a User request for a refund. Once a refund request has been accepted by Alpha, User access to the Services will be revoked and User’s will no longer be permitted to use the Services.
5.3 A User also has the right to withdraw from this Agreement if the Services are defective (i.e., the Services are not as described, are not fit for purpose or are not of satisfactory quality). The User must notify Alpha of the defect without undue delay at its e-mail address or at the address listed in clause 21 of this Agreement. When exercising its rights under this clause, a User may request that Alpha remedies the defect or provides a reasonable discount. If the defect cannot be remedied, the User can withdraw from these Terms of Service or claim a reasonable discount.
5.4 This Agreement is effective unless and until Alpha’s provision of the Services to the User is terminated by either Alpha or the User. In addition to the User’s rights to terminate set out above, the User may terminate its use of the Services at any time by notifying Alpha that the User no longer wishes to use the Services. The User will remain liable for all amounts due up to and including the date of termination.
6. ALPHA RIGHTS TO SUSPEND PROVISION OF THE SERVICES
6.1 Alpha may suspend the supply of Services in limited circumstances. Alpha does this to:
6.1.1 deal with technical problems or make minor technical changes;
6.1.2 update the Services to reflect changes in relevant laws and regulatory requirements; or
6.1.3 make changes to the Services.
6.2 Alpha will advise Users of any suspension, may adjust the price and may allow Users to terminate this Agreement. Alpha will contact Users in advance to advise of the suspension of Services, unless the problem is urgent or an emergency. If Alpha suspends supply, or advises it will suspend supply, for more than 30 days a User can contact Alpha’s Customer Service Team: [[email protected]] to end this Agreement and will receive a refund of any fees paid in advance for Services that will not be received.
7. ALPHA RIGHTS TO WITHDRAW FROM THIS AGREEMENT OR SUSPENDS SERVICES
7.1 Alpha may terminate and/or may suspend a User’s access to the Services (or any part thereof) if a User fails, or Alpha suspects that a User has failed, to comply with any term or provision of this Agreement. The User will remain liable for all amounts due up to and including the date of termination or suspension (as applicable).
7.2 Alpha may terminate this Agreement if a User fails to make any payment to Alpha when it is due and fails to make such payment within 10 days of Alpha reminding the User that payment is due.
7.3 If the User causes Alpha to incur losses, for example, through the provision of incomplete, untrue or outdated information, that may damage Alpha’s business or good reputation, Alpha may terminate (and/or may suspend User access to the Services (or any part thereof)). The User will remain liable for all amounts due up to and including the date of termination or suspension (as applicable).
8. CHARGES AND PAYMENT
8.1 In consideration of the provision of the Services, Alpha will charge Users the relevant fees following User Acceptance. If payment is to be taken at regular intervals this will be explained to Users during the order process.
8.2 If Alpha is unable to collect any payment owed by the User, it may charge interest on the overdue amount at the rate of 2% a year above the Bank of England base rate from time to time. This interest accrues on a daily basis from the due date until the date of actual payment of the overdue amount, whether before or after judgement. A User will pay the interest together with any overdue amount.
9. INTELLECTUAL PROPERTY RIGHTS
9.1 The User acknowledges and agrees that Alpha and/or its licensors own all intellectual property rights in the Services. Except as expressly stated herein, this Agreement does not grant the User any rights to, under or in, any patents, copyright, database right, trade secrets, trade names, trade marks (whether registered or unregistered), or any other rights or licences in respect of the Services.
9.2 Alpha hereby grants to the User a non-exclusive, non-transferable right and licence, without the right to grant sublicenses, to use the Services during the term of this Agreement.
9.3 Alpha confirms that it has all the rights in relation to the Services that are necessary to grant all the rights it purports to grant under, and in accordance with, the terms of this Agreement.
10. DATA PROTECTION
10.1 Alpha will use personal data that the User provides as set out in Alpha’s Privacy Notice Alpha Futures (alpha-futures.com).
11. CONFIDENTIALITY
11.1 Each party undertakes that it shall not at any time, and for a period of five years after termination or expiry of this Agreement, disclose to any person any confidential information concerning the business, affairs, customers, clients or suppliers of the other party, except as permitted by clause 10.2.
11.2 Each party may disclose the other party’s confidential information:
11.2.1 to its employees, officers, representatives, contractors, subcontractors or advisers who need to know such information for the purposes of exercising the party’s rights or carrying out its obligations under or in connection with this Agreement. Each party shall ensure that its employees, officers, representatives, contractors, subcontractors or advisers to whom it discloses the other party’s confidential information comply with this clause 10; and
11.2.2 as may be required by law, a court of competent jurisdiction or any governmental or regulatory authority.
11.3 No party shall use the other party’s confidential information for any purpose other than to exercise its rights and perform its obligations under or in connection with this Agreement.
12. PROFESSIONAL DISCLAIMERS
12.1 Alpha Futures Limited operates an educational and training platform for Users who want to learn how to trade effectively. All trading activity carried out by Users is simulated or virtual trading only. Where a User progresses to a Qualified Account, the trading activity remains simulated or virtual but we may use the trading data for our own purposes and, in Alpha’s sole and absolute discretion, provide a Virtual Performance Fee to the User. Users only pay non-refundable fees for our educational and training services and never have any capital at risk on their Virtual Accounts. As we are not carrying out any regulated investment business and we are not issuing any financial promotions, we are not required to be authorised and regulated by the Financial Conduct Authority and our services will not be covered by the Financial Ombudsman Service or US futures regulatory authorities.
13. LIMITATION OF LIABILITY
13.1 Alpha will be responsible for losses suffered by Users where such losses are caused by Alpha breaching the terms of this Agreement, unless:
13.1.1 it was not obvious that such loss would happen and nothing a User said to Alpha before Alpha accepted the User as a customer meant Alpha should have expected it (so, in the law, the loss was unforeseeable).
13.1.2 the loss was caused by a delaying event outside Alpha’s control.
13.1.3 the loss could have avoided through the taking reasonable action by the User. For example, damage to a User’s own digital content or device, which was caused by digital content Alpha supplied and which a User could have avoided by following Alpha’s advice to apply a free update or by correctly following the installation instructions or having the minimum system requirements advised by Alpha.
13.1.4 the loss is a business loss, because the Services are provided for use in a User’s personal capacity only.
14. FORCE MAJEURE
14.1 If Alpha’s provision of the Services is delayed by an event outside its control, such as an act of god, collapse of buildings, fire, explosion, pandemic, epidemic or any law or action taken by a government or public authority, Alpha will inform the User of the same as soon as possible and will take reasonable steps to reduce the delay, where possible. Provided Alpha has taken these steps, it will not compensate the User for the delay, but if the delay is likely to be substantial the User may contact the Alpha Customer Service Team: [[email protected]] to end this Agreement and receive a refund for any Services it has paid for in advance, but not received, less reasonable costs Alpha has already incurred.
15. ASSIGNMENT AND OTHER DEALINGS
15.1 A User may not transfer this Agreement to anyone else unless Alpha agrees to this in writing in advance.
15.2 Alpha may at any time transfer this Agreement so that a different organisation is responsible for supplying the Services. Alpha will inform Users in writing if this happens and will ensure that the transfer won’t affect a User’s rights under this Agreement.
16. WAIVER
16.1 A waiver of any right or remedy under this Agreement or by law is only effective if given in writing and shall not be deemed a waiver of any subsequent right or remedy.
16.2 A failure or delay by a party to exercise any right or remedy provided under this Agreement or by law shall not constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict any further exercise of that or any other right or remedy. No single or partial exercise of any right or remedy provided under this Agreement or by law shall prevent or restrict the further exercise of that or any other right or remedy.
17. RIGHTS AND REMEDIES
The rights and remedies provided under this Agreement are in addition to, and not exclusive of, any rights or remedies provided by law.
18. SEVERANCE
18.1 If any provision or part-provision of this Agreement is or becomes invalid, illegal or unenforceable, it shall be deemed deleted, but that shall not affect the validity and enforceability of the rest of this Agreement.
19. ENTIRE AGREEMENT
19.1 This Agreement constitutes the entire agreement between the parties and supersedes and extinguishes all previous agreements, promises, assurances, warranties, representations and understandings between them, whether written or oral, relating to its subject matter.
19.2 Each party agrees that it shall have no remedies in respect of any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in this Agreement. Each party agrees that it shall have no claim for innocent or negligent misrepresentation based on any statement in this Agreement.
20. NO PARTNERSHIP OR AGENCY
20.1 Nothing in this Agreement is intended to, or shall be deemed to, establish any partnership or joint venture between any of the parties, constitute any party the
agent of another party, or authorise any party to make or enter into any commitments for or on behalf of any other party.
20.2 Each party confirms it is acting on its own behalf and not for the benefit of any other person.
21. THIRD PARTY RIGHTS
21.1 Unless it expressly states otherwise, this Agreement does not give any other party a right to enforce any term of this Agreement.
22. NOTICES
22.1 All notices, requests demand, or other communications required or permitted by the terms of this Agreement will be given in writing and delivered to the respective party at the following address:
A. Alpha Futures Limited
10 Lower Thames Street, Billingsgate, London, EC3R 6AF [email protected]
B. User
To the email address registered against the User’s Alpha Futures Account.
23. DISPUTES CONCERNING THE SERVICES
23.1 The Alpha Customer Service Team: [email protected] will do their best to resolve any problems a User has with Alpha or the Services.
23.2 This Agreement is governed by English law and a User may bring claims against Alpha in the English courts. If a User lives in Wales, Scotland or Northern Ireland, the User can also bring claims against Alpha in the courts of the country in which they reside. Alpha can claim against a User in the courts of the country in which they reside.
IN WITNESS WHEREOF the parties have duly affixed their signatures under hand and seal on this Date: ______________________
Name: Alpha Futures Limited Name: ______________________