1. General Provisions
1.1. These Terms and Conditions (hereinafter referred to as "Terms") regulate the relationship between the Participant of the "Company", offered through the website www.nefitra.com (hereinafter referred to as "Participant") and NEFITRA Company (E-Tech Invest OU), Legal No. 14703567, registered at Harju maakond, Kuusalu vald, Pudisoo küla, 74626, Mannimae, Estonia, registered in the Centre of Registers and Information Systems (RA000181), in Tallinn, Estonia (hereinafter referred to as "Company") when providing the Demo Account service* through the website www.nefitra.com (hereinafter referred to as "Demo Account"), as well as the terms of further cooperation of the Participant with the Company.
1.2. The Demo Account service includes several options depending on the level of initial capital and degree of risk.
1.3. The Participant is informed about these Terms before the actual provision of services (as described below) and has the opportunity to familiarize themselves with the Terms in detail in advance.
*Demo Account - A demo account at the InstaForex broker is a type of trading account provided to traders for risk-free trading practice in the Forex market. Funds on such an account are virtual, allowing traders to explore the functionality of the trading platform, refine their trading strategies, and adapt to real market conditions without the risk of losing real money. It is an effective way for beginners to gain experience, and can also be used by experienced traders to test new strategies.
2.1. The Company assumes that the Participant has read and understood these Terms and agrees to their content. Products and services are provided only by the Company in case of the Participant's full agreement with these Terms. By electronically submitting an order for a product or service of the Company, the Participant confirms that they have read, understood, and agree to these Terms. If the Participant does not agree with these Terms or parts thereof, they should not pay for the services of the Company, nor use the services of the website www.nefitra.com.
2.2. The Participant will be provided services based on their order of the Demo Account option through the website www.nefitra.com (hereinafter referred to as "Website"), and simultaneously confirms that they have read these Terms and agree to them. By confirming the Terms and making the payment for one of the Demo Account options (2.4), the Participant enters into a relationship with the Company, under which the Company undertakes to provide services to the Participant. These relationships arise from the moment of payment of the Membership fee by the Participant.
2.3. After the Participant completes the order of services, they will be sent a proforma invoice by the Company - an accounting document in electronic form - containing the amount of the Membership fee paid for the corresponding Demo Account option. The Participant undertakes to pay the fee amount within the period specified in the invoice, otherwise, the Company is not obliged to provide services to the Participant.
2.4. The Participant undertakes to pay the Company a one-time Membership fee for the provision of a demo account, for the participant's testing phase (hereinafter "Testing Stage"), in the amount of:
- $49 (USD) for a demo account with a $10,000 (USD) deposit,
- $99 (USD) for a demo account with a $50,000 (USD) deposit,
- $199 (USD) for a demo account with a $100,000 (USD) deposit,
2.5. Before confirming the order, as well as during relations with the Company, the Participant has the opportunity to check their data and, if necessary, make corrections. The Participant can correct possible errors in the order or the Participant's data using the email: firstname.lastname@example.org
2.6. The Company provides the Participant with access to the Demo Account through the Participant's email, after the Participant has paid the fee (2.4) and the fee has been credited to the Company's account (in the form: Login from the demo account of the broker www.instaforex.com; Password from the demo account; name of the Server from the demo account).
2.7. The Company is not responsible for the timing and status of the Participant's payment credits by banks, and other payment systems, for the Company's services.
2.8. Due to the specificity of the project www.nefitra.com, the Company does not refund payments to Participants.
2.9. In case the Participant deletes their account on the website www.nefitra.com - the provision of services by the Company to the Participant will be stopped, all provided demo accounts, real accounts, personal data of the Participant will be irrevocably blocked and deleted, and contracts concluded between the Participant and the Company will be annulled.
3.1. The testing stage lasts for 30 calendar days. During this stage, there is a trading rule called "Minimum Trading Days." The Minimum Trading Days are set to 14 (trading days). To comply with this rule, a participant must trade for at least 14 days during the testing stage. At least one position must be opened on each of these days. A trading day is defined as any day when at least one transaction is made. If a transaction spans several days, the trading day is considered to be the day when the transaction was made. Participants are not required to use the entire duration of the testing period (30 calendar days). Once all trading rules (section 3) of the testing stage are successfully met, the testing stage is considered passed. The minimum time to complete the testing stage is 14 trading days. If a participant fails to meet the "Minimum Trading Days" rule, their demo account will be automatically blocked.
3.2. The "Positive Trading Days" rule is set at 50%. This means that you must achieve at least 50% positive days during the testing stage compared to the number of negative days, where a positive day is defined as a day when the account balance at 23:59:59 UTC is higher than at 0:00:01 UTC on the same day ([https://www.utctime.net](https://www.utctime.net)). If a participant fails to meet the "Positive Trading Days" rule, their demo account will be automatically blocked.
3.3. The "Maximum Loss" trading rule is set at -10% of the provided deposit of the demo account. The demo account balance must not drop below 90% of the initial account balance at any point during the 30-day period. For example, for an account with a $100,000 deposit, the lowest possible amount of funds in the account can be $90,000. This sum includes both closed and open positions. The logic of calculation is the same as for the "maximum daily loss" rule (section 3.4), with the difference that it is not limited to one day but the entire duration of the testing period. The limit includes commissions and swaps. If a participant exceeds the loss limit of the "Maximum Loss" rule, their demo account will be automatically blocked.
3.4. The "Maximum Daily Loss" trading rule is set at -5% of the provided deposit of the demo account. The rule states that at any point during the day, the result of all closed positions combined with the current open floating P/L (profits/losses) should not reach the set daily loss limit. The formula for calculation: Current Daily Loss = Results of Closed Positions of that day + Result of Open Positions. For instance, with an initial capital of $100,000, the maximum daily loss is $5,000. If a participant loses $4,000 in their closed trades, their account should not decrease by more than $1,000 on that day. The loss should also not consist of open floating losses of more than -$1,000. The limit includes commissions and swaps. Conversely, if a participant earns $4,000 in one day, they can afford to lose $9,000, but no more. If a participant exceeds the loss limit of the "Maximum Loss" rule, their demo account will be automatically blocked.
3.5. The "Profit" trading rule is set at 10% of the initial capital deposit provided. This rule means that the Participant must earn a profit of at least 10% of the initial balance of the demo account, in the sum of closed positions on the provided demo account for a period up to 30 calendar days. For example: if a Participant trades on an account with an initial capital of $100,000, then the Participant's profit should be $10,000 for a period up to 30 calendar days. If the Participant fails to meet the "Profit" rule, the Participant's demo account will be automatically blocked.
3.6. The Participant is not allowed to replenish the demo account provided by the Company by any method and in any form, otherwise, the Participant's demo account will be automatically blocked.
3.7. The Participant is not allowed to change the password of the demo account provided by the Company (see clause 2.6) by any method, otherwise, if the Company detects a change of password, the Participant's demo account will be blocked. If at the time of detecting the password change, the Participant has already concluded a separate agreement (clause 4.1) with the Company, this agreement will be unilaterally terminated by the Company.
*Rule - A set of instructions or guiding principles established by a broker or trading platform that must be followed when conducting trading operations.
*Position - An obligation to buy or sell a certain amount of a financial instrument, which a trader holds in anticipation of a price change.
*Trading Day - The period during which trading takes place on the financial market; usually these are the working days of the week, excluding weekends or holidays.
*Deal - An action to buy or sell a financial instrument that leads to a change in the trader's position in the market.
*Closed Position - A situation where a trader performs a reverse trading operation to exit the market, resulting in the realization of profit or loss on the deal.
*Open Position - An active trading position where a trader anticipates a price change of a financial instrument with the aim of making a profit.
*Commission - A fee charged by a broker or trading platform for executing trading operations or other services.
*Swap - A charge or credit applied to a trader for carrying an open position overnight, based on the difference in interest rates between the currencies in the pair.
4.1. If the Participant, during the service provision period, achieves all the goals listed in clause 3 on the provided demo account, the Company may offer the Participant to enter into a separate agreement (hereinafter "Agreement") with the Company, for further management of a "special" demo account (hereinafter "real account").
4.2. The Agreement to provide the Participant with a real account is sent to the Participant's email address specified in their personal account on the website www.nefitra.com.
4.3. The legal form and content of the Agreement for the Management of the real account are chosen at the discretion of the Company.
4.4. The Participant has the right to request an example of the agreement by writing to the Company at the email address email@example.com.
5.1. The subject of the Demo Account service is to provide access to an account within the electronic interface of the broker, which, during the service provision period, allows the Participant to conduct fictitious transactions in the FOREX market or other financial markets, as well as to receive an analytical summary of the Participant's performance in these markets during the service period.
5.2. The Company does not provide the Participant with any investment services (neither primary nor secondary) in the sense of Law No. 256/2004 on the securities market, in any version of the Demo Account. The Company does not give the Participant recommendations, instructions, or information on how to conduct transactions on the Demo Account or any similar information on trading financial instruments.
5.3. In all variants of the Demo Account service, the Participant has complete freedom in what transactions to conduct in the FOREX market or other financial markets. However, they must not violate the rules of the nefitra.com project and the InstaForex broker. Participants must strictly adhere to the rules and conditions (https://secure.instatrade.com/Agreements/ClientBVI.html?lang=en) set by the InstaForex broker, with whom we cooperate. In accordance with the company's obligations to InstaForex and in the interest of maintaining transparency and fairness of trading operations, the company is forced to take action against any violations of the rules.
This means that any actions that fall under the category of abuse of trading conditions, manipulation, or fraud will lead to the immediate blocking of the Participant's trading account in the Nefitra.com project. Examples of such violations include, but are not limited to:
5.4. Services may be canceled by mutual agreement of the parties or by the decision of the Company in case the Participant violates any of the Company's rules.
6.1. The Participant has the right to file complaints with the Company for the following reasons:
6.2. Complaints and other comments can be submitted electronically to the email address: firstname.lastname@example.org.
6.3. In case of provision of incomplete or poor-quality services, or suspicion of providing incomplete or poor-quality services, the Participant is obliged to notify the Company immediately, otherwise, the complaints will not be taken into consideration.
7. Personal Data Protection
7.1. The protection of personal data is carried out in accordance with the Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data (hereinafter referred to as "GDPR"), as set out in the Personal Data Protection Principles. You can familiarize yourself with these rules by following the link: https://nefitra.com/documents/privacy-policy.
8.1. The Company undertakes to provide services to the Participant under the conditions specified above within the agreed time.
8.2. The Company reserves the right to change the content of the Terms. The updated version of the Provisions and Terms will always be published at the link: https://www.nefitra.com/documents/terms-and-conditions, and information about the updated version along with the updated Terms will be sent to the Participant's email address. In the event of discrepancies in the wording of the Terms, it is considered that the Terms published at the link: https://www.nefitra.com/documents/terms-and-conditions are valid and binding.
8.3. The Participant is solely responsible for ensuring that these Terms comply with all laws, rules, and regulations applicable to the Participant. The Company has the right to revoke access and/or use of products and services if these Terms contradict any applicable law, rule, or regulation. The products and services offered by the Company are intended for use by the Participant only and not for use or benefit by any other legal entity, third party, or person.
8.4. The Participant acknowledges and agrees that the Company is not a broker or broker-dealer as understood in the regulation of financial services in the USA, and that the Company does not trade securities as part of its products and services, nor does it provide any financial or investment advice or recommendations.
8.5. The Participant acknowledges and agrees that the Company is not liable for any losses of the Participant, both during and after the provision of services to the Participant by the Company.
8.6. Any agreements between the Company and the Participant deviating from these Terms are documented through an additional contract, which takes precedence in the relationship between the Company and the Participant.
8.7. These Terms and the relationship between the Company and the Participant are governed by the laws of Estonia. All disputes related to these Terms or the relationship between the Company and the Participant will be resolved in court in Estonia.
Last updated date: 11.11.2023