Terms and Conditions

General provisions

These Terms and Conditions (hereinafter referred to as the "Conditions") govern the relationship between the Member of the “Association” offered through the website www.nefitra.com (hereinafter referred to as the "Member") and the association NEFITRA (E-Tech Invest OU), N. 14703567, registered office at Harju maakond, Kuusalu vald, Pudisoo küla, 74626 , Mannimae, Estonia, incorporated at the Centre of Registers and Information Systems (RA000181), in Tallinn, Estonia (hereinafter referred to as the "Association") in providing the DEMO ACCOUNT service through the website www.nefitra.com (hereinafter referred to as the "Demo Account"), as well as the conditions of further cooperation of the Member with the Association. 

The Demo Account service consists of several variants depending on the level of initial capital and the measure of risk.

The Member is notified of these Conditions before the actual realization of the supply of services (as described below) and he or she has the opportunity to become familiar in detail with the Conditions in advance.

Provision of Services and Fee

The Association assumes that the Member has read and understood these Conditions and agrees to its content. The products and services are only provided by the Association upon Member’s full accord to these Conditions. By electronically submitting the order for the Association’s product or service, the Member acknowledges, understands and agrees with these Conditions. If the Member disagrees with these Conditions or parts of the Conditions, the Member is not required to subscribe for the products or services of the Association.

The Member will be provided services based on his/her order of a variant of the Demo Account via the website www.nefitra.com (hereinafter referred to as the "Web Site") and he or she at the same time confirms that he or she has become familiar with these Conditions and that he or she agrees with them. By confirming the Conditions and completing the payment of the Member Fee for one of the variants of the Demo Account, the Member enters into a relationship with the Association based upon which, the Association is bound to provide the services to the Member. This relationship comes into existence on the day when the Member Fee is paid.

After the Member has completed the order of the services, he or she shall receive from the Association a pro-forma invoice - an accounting document in electronic form - containing the amount of the Member Fee paid for the respective variant of the Demo Account. The Member undertakes to pay the fee within the payment deadline stated in the invoice, otherwise, the Association is under no obligation to provide services to the Member.

The Member shall pay the Association the one-time Member Fee of:
• EUR 49 for the variant with initial capital of EUR 1 000,

• EUR 69 for the variant with initial capital of EUR 3 000,

• EUR 119 for the variant with initial capital of EUR 5 000,

• EUR 149 for the variant with initial capital of EUR 10 000,

• EUR 249 for the variant with initial capital of EUR 20 000,

• EUR 399 for the variant with initial capital of EUR 50 000,

• EUR 599 for the variant with initial capital of EUR 100 000,

Before confirming the order, as well as in the course of the relationship with the Association, the Member has the possibility to check his or her data and, where appropriate, also correct them. The Member may correct any possible errors in the order or in the Member's data with the Association at the e-mail address: support@nefitra.com.

Member's Rights

By ordering the services, the Member shall be entitled to use the Demo Account service for a period of 30 calendar days. The Member has the right to activate the Demo Account service within a reasonable time period after paying the Member Fee, but no later than 14 days after the payment of the Member Fee.

If the Member satisfies the conditions listed in article 5 of the Conditions within the period services are provided, he or she is entitled to the extended access of another 30 days to the Demo Account and to additional analytical services, free of charge.

If the Member satisfies the conditions listed in article 6 of the Conditions within the period stated in section 2 of this article, the Association may offer him or her the conclusion of a contract with the Company E-Tech Invest OU (hereinafter also referred to as the “Company"), N. 14703567, registered office at Harju maakond, Kuusalu vald, Pudisoo küla, 74626 , Mannimae, Estonia, incorporated at the Centre of Registers and Information Systems (RA000181) Tallinn, the subject of which will be the management of a special Demo Account through which some rights to remuneration by the Company to the Member may arise upon the fulfilment of certain conditions in agreement with the Association's guidelines and based on an agreement closed between the Association and the Company (hereinafter also referred to as “Special Demo Account”).

Demo Account Service (“Testing”)

The subject matter of the Demo Account service is the establishment of access to an account in the context of the electronic interface of the broker, which for the time when services are provided will allow the Member to conduct fictitious trades on the FOREX market or other financial markets and also to receive analytical summary of the Member's performances on these markets when services are provided.

The Association shall provide the Member with access to the Demo Account via Member's e-mail.

The Association does not provide to the Member any investment service (either primary or secondary) within the meaning of Act No. 256/2004 Coll., on the capital market, as amended, in any of the variants of the Demo Account. Association gives the Member no guidelines, instructions or information on how or in what way the Member should conduct trades on the Demo Account, or any similar information on trading the financial instruments.

In all variants of the Demo Account service, the Member has total freedom in term of what trades and in what way to conduct on the FOREX market or other financial market. The Member is only limited by the conditions of trading in the electronic interface provided by the broker. 

All variants of the Demo Account include a number of functionalities which are used to produce analytical summaries of the Member's performance over the period when services are provided.

Extension of the Demo Account Service (“Check”)

The Member is entitled to an extension of the Demo Account service of the respective variant he or she has ordered for a further period according to Article 3, section 2 of these Conditions, free of charge, if he or she at the end of the period services are provided meets the following conditions on their Demo Account:

He or she opened at least one fictional trading position in at least ten different calendar days;

he or she has demonstrated finalized profit in at least half of all calendar days he or she conducted fictitious trades;

he or she has not demonstrated the loss in any day during the duration, whereas the loss of the day comprises of both opened and closed fictitious trades, that would exceed 5% of the value of the initial capital;

he or she has not, at any point during the duration, demonstrated a loss on the summary of opened and closed fictitious positions which would exceed 10% of the initial capital;

he or she has shown a total profit on the summary of opened and closed fictitious positions of at least 10% of the initial capital. All positions on the demo account must be closed.

The term (i) “calendar day” is understood as the period from the midnight to the midnight of the current time zone of the Republic of Estonia (CE(S)T), (ii) EUR is understood as Euro.

Special account (“ NEFITRA Real Account”)

The Member is entitled to enter into a Contract on managing a Special Demo Account with the Company in order to enter into an agreement, the subject of which shall be the management of a Special Demo Account if during the period when services were provided, the member has met the conditions listed in Article 3.2 of these conditions and the conditions listed in Article 5.1, excluding the last point which is:

The Member has shown profit upon closure on all of the fictional trade positions conducted on their Demo Account at least in the amount of 10% of the initial capital.

The legal form of the Contract on Management of the Special Demo Account, as well as its contents are chosen according to the Company's discretion. The offer for entering the Contract on Management of the Special Demo Account with the Company shall be submitted to the Member without undue delay after the expiry of the period according to Articles 4 and 5 of these Conditions.

The Association has the right to refuse to conclude the proposal of a contract with the Member on entering into the Contract on Management of the Special Demo Account with the Member, if during the period when services are provided, the Member conducted trades on the Demo Account contrary to how trades are to be conducted on the FOREX market or other financial markets or in a way that constitutes legitimate concerns that the Association may suffer financial or other damage due to the Member's activities. In such case, the Association shall not return the Member Fee paid for the corresponding variant of the Demo Account to the Member.

Cancellation of the Provision of Services

The Member has the right to cancel the ordered services within the period of 14 days from ordering the services. This does not apply if the Association has started providing the services and the Member has begun to conduct fictitious transactions on the FOREX market or other financial markets using the Demo Account.

The Member can submit a withdrawal from the Contract and these Conditions by submitting the withdrawal form, which is available on personal account of the participant.

The services can be cancelled through an agreement of the parties or by withdrawal by the Association also in case that the Member has, in a substantial way, acted in a fashion that breaches any of these Conditions.

Rights from Defective Performance and Complaints

The time to exercise rights from defective performance of the services provided starts upon granting the Member access to the Demo Account and ends upon the expiration of the period when services are provided.

The Member has the right to exercise complaints to the Association for the following reasons:

non-provision of ordered services,

provision of incomplete services.

Complaints and other comments can be exercised electronically at: support@nefitra.com.

In the event of incomplete or faulty services being provided and the suspicion of incomplete or faulty services provided, the Member is obligated to report these without undue delay. Late retroactive complaints shall not be taken into account.

Personal-data protection

Your personal data are safe. You may cancel your newsletter subscription at any time. We will never spam you or pass your data to other administrators or third parties.

Personal data protection is 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 as “GDPR”) provided for in the Personal Data Protection Principles which may be found here: https://nefitra.com/documents/privacy-policy

Final Provisions

The Association undertakes to provide services to the Member upon the fulfilment of the above stated conditions for the time period agreed.

The Association reserves the right to change the content of the Conditions. The updated version of the Terms & Conditions will always be published at  https://www.nefitra.com/documents/terms-and-conditions and the information on the updated version along with the updated Conditions will be sent to the Member's e-mail address. In the event of a discrepancy in the wording of the Conditions, the Conditions published on https://www.nefitra.com/documents/terms-and-conditions are considered as valid and binding.

The Member is solely responsible to ensure that these Conditions are in compliance with all laws, rules and regulations relevant to the Member. The Association has the right to revoke access and/or use of the products and services, where these Conditions conflict with any applicable law, rule or regulation. The products and services offered by the Association are intended only for the Member’s use, and not for the use or benefit of any other entity, third party or a person.

The Member acknowledges and agrees that the Association is not a broker or broker-dealer, as such terms are used in the USA financial services regulations, and that the Association does not trade securities as part of the products and services, nor does the Association offer any financial or investment advice or recommendation. The Member acknowledges and agrees that the Association is not liable for any losses or gains that may arise from Member’s reliance on information provided by or as interacted with other entity, third party or a person.

Any special arrangement between the Association and the Member deviating from these Conditions shall prevail.

Neither the Association nor the Member wishes that any rights and obligations be inferred from existing or future practice established between the parties or customary practices generally maintained, or in the sector related to the subject of the order of services beyond the expressed provisions specified in the order, order confirmation or in any written contract, unless otherwise agreed in writing. Besides the above-mentioned, the parties confirm that they are not aware of any other practices hitherto established between them.

The entire content on the Association’s website is provided for information purposes only and without any warranty or assurance concerning the nature or accuracy of the content. The Member acknowledges and agrees that the Association is not liable for any outcomes arising from the use of such content.

If during the period when services are provided or at any time thereafter a change occurs in the circumstances, which at the time of the establishment of the relationships the parties relied on, to the extent that it cannot reasonably be required that the subsequent Contract on Management of Special Demo Account be closed, the obligation to close the Contract ceases to exist. The party to whom a substantial change of circumstances applies shall promptly notify the other one.

In case any provision of the Conditions is invalid or inapplicable, or becomes such, these invalid provisions of the Conditions shall be replaced by such provisions whose meaning is the closest to the invalid ones. The invalidity or inapplicability of one provision of the Conditions does not mean the invalidity of other provisions of the Conditions.

The Association website and part of the products and services may refer to another entity, third party or person. The Member is responsible to perform own due diligence and assess if such another entity, third party or other person’s products or services are appropriate for the Member. The Member agrees that the Association is not responsible for any harm, damages, or negative experience arising from or by using other entity, third party or other person’s products or services.

The Member may be notified via their electronic address.

These Terms and Conditions are valid and effective as of 1th of January 2020.
E-Tech Invest OU (EE).