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Rule Radar
Perps Prop Firm Rule Changes. Tracked Daily.
Your morning update on perps prop firm rule changes, refreshed overnight.
We track the published rules and policies of every perps prop firm on PickAPropFirm.com and keep every version, so when a firm edits a rule we have the before and after in writing. Most of what changes is really nothing: a fixed typo, a clarified sentence, a word added here and there. But real changes stand out fast, and you can literally watch rules and policies tighten line by line. Payout terms creep, consistency thresholds drop, and prices quietly climb. It works the other way too: sometimes payouts improve and rules loosen, and when that happens it’s usually one of our Premier firms.
Perps prop firms are new, and their rules move faster than the CME shops: leverage caps, funding and swap fees, payout rails and drawdown terms can all change between one week and the next. That is exactly why they are on this radar. If a plan looks too good to be true, it almost always is.
Starred changes are the ones we think deserve your attention; the full feed below is everything we caught, right down to the typo fixes.
Treat this page like your morning paper. It updates overnight, so grab your coffee and see what changed. – Jmu (@jmutrades)
See how these firms compare on Top Perp Props ›
Starred changes
PremierMyFundedPerps · Elite AccountsAdded NAS100 and SP500 to the list of instruments with boosted leverage on Elite accounts.Oct 15
▸ View exact changes
What the page said before and after
Before
Elite Accounts
Source: https://docs.myfundedperpetuals.com/guides/elite-accounts
Elite plan sizes, prices, and daily loss limit options, evaluation and Sim Funded rules, leverage and exposure caps, reduced fees, funded allocation limits, and payouts.
Elite is a 1-Step evaluation with a static maximum loss limit, no consistency
− rule, and boosted leverage on indices, US30, gold, and oil. It comes in \$5K, \$10K,
\$25K, and \$50K account sizes, and every size has two options: 3% DLL,
which adds a 3% daily loss limit at a lower price, or No DLL, which has no
daily loss limit. Passing leads to a Sim Funded Elite account with the same
rules. Open the
challenge selector and choose the
Elite tab to buy.
Sizes and prices
| Detail | Elite \$5K | Elite \$10K | Elite \$25K | Elite \$50K |
|---|
The plan adds no evaluation rules beyond this table. Platform-wide rules still
apply, including the trading policy, prohibited trading
activity, account inactivity, market exposure caps, and the platform terms.
How static drawdown works
The loss threshold is the starting balance minus the MLL, and it is fixed for
the life of the account. It does not trail profits, intraday highs, or
end-of-day highs.
For example, an Elite \$25K account has a \$1,250 MLL, so its loss threshold is
\$23,750. If equity grows to \$27,000, the threshold stays at \$23,750, leaving
\$3,250 of room. Equity that reaches \$23,750 breaches the account, fails it,
and closes its positions.
Leverage and exposure
− Elite accounts use boosted leverage on indices, US30, gold, and oil. Each cap
is a multiple of the account's starting balance and applies to each account
separately, in both the evaluation and Sim Funded stages:
| Markets | Maximum leverage | Elite \$5K exposure | Elite \$10K exposure | Elite \$25K exposure | Elite \$50K exposure |
|---|
- Exposure is the full value of your open positions in that group, long plus
short. NAS100 and SP500 share the indices cap, US30 has its own cap, and CL
and BRENTOIL share the oil cap. Positions still open on the retiring GOLD
market count toward the gold cap together with XAU.
- The account's total exposure across every market is capped at 40x its
After
Elite Accounts
Source: https://docs.myfundedperpetuals.com/guides/elite-accounts
Elite plan sizes, prices, and daily loss limit options, evaluation and Sim Funded rules, leverage and exposure caps, reduced fees, funded allocation limits, and payouts.
Elite is a 1-Step evaluation with a static maximum loss limit, no consistency
+ rule, and boosted leverage on NAS100, SP500, US30, gold, and oil. It comes in \$5K, \$10K,
\$25K, and \$50K account sizes, and every size has two options: 3% DLL,
which adds a 3% daily loss limit at a lower price, or No DLL, which has no
daily loss limit. Passing leads to a Sim Funded Elite account with the same
rules. Open the
challenge selector and choose the
Elite tab to buy.
Sizes and prices
| Detail | Elite \$5K | Elite \$10K | Elite \$25K | Elite \$50K |
|---|
The plan adds no evaluation rules beyond this table. Platform-wide rules still
apply, including the trading policy, prohibited trading
activity, account inactivity, market exposure caps, and the platform terms.
How static drawdown works
The loss threshold is the starting balance minus the MLL, and it is fixed for
the life of the account. It does not trail profits, intraday highs, or
end-of-day highs.
For example, an Elite \$25K account has a \$1,250 MLL, so its loss threshold is
\$23,750. If equity grows to \$27,000, the threshold stays at \$23,750, leaving
\$3,250 of room. Equity that reaches \$23,750 breaches the account, fails it,
and closes its positions.
Leverage and exposure
+ Elite accounts use boosted leverage on NAS100, SP500, US30, gold, and oil. Each cap
is a multiple of the account's starting balance and applies to each account
separately, in both the evaluation and Sim Funded stages:
| Markets | Maximum leverage | Elite \$5K exposure | Elite \$10K exposure | Elite \$25K exposure | Elite \$50K exposure |
|---|
- Exposure is the full value of your open positions in that group, long plus
short. NAS100 and SP500 share the indices cap, US30 has its own cap, and CL
and BRENTOIL share the oil cap. Positions still open on the retiring GOLD
market count toward the gold cap together with XAU.
- The account's total exposure across every market is capped at 40x its
Elite Accounts
Source: https://docs.myfundedperpetuals.com/guides/elite-accounts
Elite plan sizes, prices, and daily loss limit options, evaluation and Sim Funded rules, leverage and exposure caps, reduced fees, funded allocation limits, and payouts.
Elite is a 1-Step evaluation with a static maximum loss limit, no consistency
− rule, and boosted leverage on indices, US30, gold, and oil. It comes in \$5K, \$10K,
+ rule, and boosted leverage on NAS100, SP500, US30, gold, and oil. It comes in \$5K, \$10K,
\$25K, and \$50K account sizes, and every size has two options: 3% DLL,
which adds a 3% daily loss limit at a lower price, or No DLL, which has no
daily loss limit. Passing leads to a Sim Funded Elite account with the same
rules. Open the
challenge selector and choose the
Elite tab to buy.
Sizes and prices
| Detail | Elite \$5K | Elite \$10K | Elite \$25K | Elite \$50K |
|---|
The plan adds no evaluation rules beyond this table. Platform-wide rules still
apply, including the trading policy, prohibited trading
activity, account inactivity, market exposure caps, and the platform terms.
How static drawdown works
The loss threshold is the starting balance minus the MLL, and it is fixed for
the life of the account. It does not trail profits, intraday highs, or
end-of-day highs.
For example, an Elite \$25K account has a \$1,250 MLL, so its loss threshold is
\$23,750. If equity grows to \$27,000, the threshold stays at \$23,750, leaving
\$3,250 of room. Equity that reaches \$23,750 breaches the account, fails it,
and closes its positions.
Leverage and exposure
− Elite accounts use boosted leverage on indices, US30, gold, and oil. Each cap
+ Elite accounts use boosted leverage on NAS100, SP500, US30, gold, and oil. Each cap
is a multiple of the account's starting balance and applies to each account
separately, in both the evaluation and Sim Funded stages:
| Markets | Maximum leverage | Elite \$5K exposure | Elite \$10K exposure | Elite \$25K exposure | Elite \$50K exposure |
|---|
- Exposure is the full value of your open positions in that group, long plus
short. NAS100 and SP500 share the indices cap, US30 has its own cap, and CL
and BRENTOIL share the oil cap. Positions still open on the retiring GOLD
market count toward the gold cap together with XAU.
- The account's total exposure across every market is capped at 40x its
PremierE8 Markets Perps · E8 Signature | E8 Markets Help Center5 is now 4.Oct 15
▸ View exact changes
What the page said before and after
Before
Minimum profitable days between each payout: 5 (does not apply for first payout)
- A profitable day is considered as a day where the realized closed PnL equals to 0.3% or more.
- You have to achieve profitable days between each payout cycle. After requesting a payout, your previously achieved profitable days will reset to 0.
$75 - $25,000 account
$150 - $50,000 account
$300 - $100,000 account
$450 - $150,000 account
Payout buffer - Before you can start requesting payout, you need to leave a buffer in your account in the same size as your EOD Dynamic Drawdown. The buffer can not be requested. The reason for this is to protect trades from violating EOD by requesting full profit from the account.
If your EOD is 3% and your initial balance $100,000, the buffer is $3000.
Payout caps - Payout caps determine the maximum you can request in a single payout.
A full explanation can be seen in this article.
Maximum amount of payouts per account: 4 (only for the Futures market)
Section: Criteria for the payout:
− This determines how many payouts you can request in total from one account. After you request 5 payouts, no matter the remaining buffer or how much you requested in total payouts, the cycle is closed, the account is deactivated, and you move on with the free Challenge of the same size. (Accounts purchased before October 1st, 2026 17:00 UTC + 0 have a max amount set to 5).
Payout Mechanism:
On E8 Signature (futures market), for your current payout, only profit earned during the current cycle is eligible. Meaning Unused profits from previous cycles don't carry over.
Trading Hours And instruments
Please note that on E8 Signature accounts, all positions are closed by 23:00 Server time, and trading re-opens at 00:15 Server time.
Trading hours or available instruments can differ based on the Market you choose - Click here for more details.
News trading
You can trade news on E8 Signature without any restrictions (This includes SimFi™ challenge account (phase-1) and SimFI™ performance Account)
E8 Markets offers a simulated environment that is designed to replicate real-market data and trading conditions; just as slippage is a factor in a real market, it is also present within our simulated environment. Therefore, we recommend that users avoid trading during high-impact news releases.
More information can be accessed in the article here.
Copy trading rules
E8 Markets allows copy trading across all accounts, including SimFi™ challenge and SimFI™ Performance accounts or personal accounts, as long as these accounts belong to you.
What is the available leverage? (Classic Markets)
After
Minimum profitable days between each payout: 5 (does not apply for first payout)
- A profitable day is considered as a day where the realized closed PnL equals to 0.3% or more.
- You have to achieve profitable days between each payout cycle. After requesting a payout, your previously achieved profitable days will reset to 0.
$75 - $25,000 account
$150 - $50,000 account
$300 - $100,000 account
$450 - $150,000 account
Payout buffer - Before you can start requesting payout, you need to leave a buffer in your account in the same size as your EOD Dynamic Drawdown. The buffer can not be requested. The reason for this is to protect trades from violating EOD by requesting full profit from the account.
If your EOD is 3% and your initial balance $100,000, the buffer is $3000.
Payout caps - Payout caps determine the maximum you can request in a single payout.
A full explanation can be seen in this article.
Maximum amount of payouts per account: 4 (only for the Futures market)
Section: Criteria for the payout:
+ This determines how many payouts you can request in total from one account. After you request 4 payouts, no matter the remaining buffer or how much you requested in total payouts, the cycle is closed, the account is deactivated, and you move on with the free Challenge of the same size. (Accounts purchased before October 1st, 2026 17:00 UTC + 0 have a max amount set to 5).
Payout Mechanism:
On E8 Signature (futures market), for your current payout, only profit earned during the current cycle is eligible. Meaning Unused profits from previous cycles don't carry over.
Trading Hours And instruments
Please note that on E8 Signature accounts, all positions are closed by 23:00 Server time, and trading re-opens at 00:15 Server time.
Trading hours or available instruments can differ based on the Market you choose - Click here for more details.
News trading
You can trade news on E8 Signature without any restrictions (This includes SimFi™ challenge account (phase-1) and SimFI™ performance Account)
E8 Markets offers a simulated environment that is designed to replicate real-market data and trading conditions; just as slippage is a factor in a real market, it is also present within our simulated environment. Therefore, we recommend that users avoid trading during high-impact news releases.
More information can be accessed in the article here.
Copy trading rules
E8 Markets allows copy trading across all accounts, including SimFi™ challenge and SimFI™ Performance accounts or personal accounts, as long as these accounts belong to you.
What is the available leverage? (Classic Markets)
Minimum profitable days between each payout: 5 (does not apply for first payout)
- A profitable day is considered as a day where the realized closed PnL equals to 0.3% or more.
- You have to achieve profitable days between each payout cycle. After requesting a payout, your previously achieved profitable days will reset to 0.
$75 - $25,000 account
$150 - $50,000 account
$300 - $100,000 account
$450 - $150,000 account
Payout buffer - Before you can start requesting payout, you need to leave a buffer in your account in the same size as your EOD Dynamic Drawdown. The buffer can not be requested. The reason for this is to protect trades from violating EOD by requesting full profit from the account.
If your EOD is 3% and your initial balance $100,000, the buffer is $3000.
Payout caps - Payout caps determine the maximum you can request in a single payout.
A full explanation can be seen in this article.
Maximum amount of payouts per account: 4 (only for the Futures market)
Section: Criteria for the payout:
− This determines how many payouts you can request in total from one account. After you request 5 payouts, no matter the remaining buffer or how much you requested in total payouts, the cycle is closed, the account is deactivated, and you move on with the free Challenge of the same size. (Accounts purchased before October 1st, 2026 17:00 UTC + 0 have a max amount set to 5).
+ This determines how many payouts you can request in total from one account. After you request 4 payouts, no matter the remaining buffer or how much you requested in total payouts, the cycle is closed, the account is deactivated, and you move on with the free Challenge of the same size. (Accounts purchased before October 1st, 2026 17:00 UTC + 0 have a max amount set to 5).
Payout Mechanism:
On E8 Signature (futures market), for your current payout, only profit earned during the current cycle is eligible. Meaning Unused profits from previous cycles don't carry over.
Trading Hours And instruments
Please note that on E8 Signature accounts, all positions are closed by 23:00 Server time, and trading re-opens at 00:15 Server time.
Trading hours or available instruments can differ based on the Market you choose - Click here for more details.
News trading
You can trade news on E8 Signature without any restrictions (This includes SimFi™ challenge account (phase-1) and SimFI™ performance Account)
E8 Markets offers a simulated environment that is designed to replicate real-market data and trading conditions; just as slippage is a factor in a real market, it is also present within our simulated environment. Therefore, we recommend that users avoid trading during high-impact news releases.
More information can be accessed in the article here.
Copy trading rules
E8 Markets allows copy trading across all accounts, including SimFi™ challenge and SimFI™ Performance accounts or personal accounts, as long as these accounts belong to you.
What is the available leverage? (Classic Markets)
PremierVest Markets · Refund Policy3 is now 28.Oct 14
▸ View exact changes
What the page said before and after
Before
Refund Policy
− Refunds are available within 3 days of purchase, provided no trades have been placed. Once the first trade is opened, the account is active and no longer eligible for a refund.
To request a refund, contact our support team via livechat, or email <>.
After
Refund Policy
+ Refunds are available within 28 days of purchase, provided no trades have been placed. Once the first trade is opened, the account is active and no longer eligible for a refund.
To request a refund, contact our support team via livechat, or email <>.
Refund Policy
− Refunds are available within 3 days of purchase, provided no trades have been placed. Once the first trade is opened, the account is active and no longer eligible for a refund.
+ Refunds are available within 28 days of purchase, provided no trades have been placed. Once the first trade is opened, the account is active and no longer eligible for a refund.
To request a refund, contact our support team via livechat, or email <>.
PremierVest Markets · Prop Terms of ServiceArticle updated with new program disclosure, account definitions clarified, and limit changed from one Account to up to ten Instant Funded Accounts and one hundred Evaluation Accounts.Oct 14
▸ View exact changes
What the page said before and after
Before
Prop Terms of Service
Vest Prop Trading
Terms of Service
− Last updated: September 28, 2026
Welcome to next.vestmarkets.com, a simulated proprietary trading program (the “Program”) provided by Vest Exchange Inc., a Panama corporation (“we,” “our,” or “us”).
This Terms of Service Agreement (the “Agreement”) explains the terms and conditions by which you may access and participate in the Program. You must read this Agreement carefully. By accessing or using the Program, you acknowledge that you have read, understand, and agree to be bound by this Agreement in its entirety. You also represent that you have the legal authority to accept this Agreement on behalf of yourself and any party you represent in connection with your use of the Services and/or Program. If you do not agree, you are not authorized to access or participate in the Program.
PLEASE READ THIS AGREEMENT CAREFULLY AS IT GOVERNS YOUR PARTICIPATION IN THE PROGRAM. THE AGREEMENT CONTAINS IMPORTANT INFORMATION, INCLUDING A BINDING ARBITRATION PROVISION AND A CLASS ACTION WAIVER, BOTH OF WHICH IMPACT YOUR RIGHTS AS TO HOW DISPUTES ARE RESOLVED. YOU SHOULD ONLY PARTICIPATE IN THE PROGRAM IF YOU AGREE COMPLETELY WITH THE AGREEMENT.
− Information in relation to the way we handle personal information is included in our Privacy Statement, available at next.vestmarkets.com/privacy (our “Privacy Policy”).
This Agreement may be amended, changed, or updated by us at any time and without prior notice to you. You should check back often on the website to confirm that your copy and understanding of this Agreement is current and correct. Your non-termination or continued access or use of the website or any Services after the effective date of any amendments, changes, or updates constitutes your acceptance of the Agreement, as modified by such amendments, changes, or updates. We may modify, suspend, or terminate any aspect of the Program, including evaluation criteria, compensation structures, or eligibility requirements, at any time in our sole discretion.
The access to or participation in the Program and any of the Services is void where such access or use is prohibited by, would constitute a violation of, or would be subject to penalties under applicable Laws, and shall not be the basis for the assertion or recognition of any interest, right, remedy, power, or privilege.
1. Definitions
In these Agreement and all documents incorporated herein by reference, the following words have the following meanings unless otherwise indicated:
− “Account” means a user’s account in the Program and other records, all as utilized by us from time-to-time to record a user’s virtual balances of digital assets and other usage of the Services.
“Affiliate” means, in relation to us, a direct or indirect subsidiary or parent, and any other entities that we may control, be controlled by, or be under common control with.
“AML” means anti-money laundering, including all applicable Laws prohibiting money laundering or any acts or attempted acts to conceal or disguise the identity or origin of; change the form of; or move, transfer, or transport, illicit proceeds, property, funds, fiat currency, or digital assets.
“Anti-Corruption” means all applicable Laws prohibiting corruption or bribery of government officials of any kind, including kickbacks, inducements, and any other forms of corruption or bribery.
“Authorized Trader” means any natural person authorized by an Institutional User to access or use the Services on its behalf.
“CFT” means countering the financing of terrorism.
“Evaluation Process” means an assessment that we may require for a particular user, Account, or Program offering to assess trading skill, risk management, and adherence to specified trading parameters.
“Instant Funded Account” means an Account to which we grant access to a payout eligible stage of the Program without requiring completion of an Evaluation Process. It is a virtual Program designation, not an account containing assets funded for your benefit or authorizing you to execute live trades.
“Government” means any national, federal, state, municipal, local, or foreign branch of government, including any department, agency, subdivision, bureau, commission, court, tribunal, arbitral body, or other governmental, government appointed, or quasi-governmental authority or component exercising executive, legislative, juridical, regulatory, or administrative powers, authority, or functions of or pertaining to a government instrumentality, including any parasternal company, or state-owned (majority or greater) or controlled business enterprise.
“Government Official” means an officer or employee of any Government, a director, officer, or employee of any instrumentality of any Government, a candidate for public office, a political party or political party official, an officer or employee of a public international organization, and any Person who is acting in an official capacity for any of the foregoing, even if such Person is acting in that capacity temporarily and without compensation.
“Hedging Transactions” means risk management transactions undertaken by us or our Affiliates for our own accounts, using our own capital or assets, to manage exposure associated with the Program or with trades we choose to enter into based on Trade Ideas.
“Institutional User” means any user that is an entity (including any fund or other investment vehicle).
“Laws” means all laws, statutes, orders, regulations, rules, treaties, and/or official obligations or requirements enacted, promulgated, issued, ratified, enforced, or administered by any Government that apply to you, to us, or to the Program.
“Person” includes an individual, association, partnership, corporation, company, other body corporate, trust, estate, and any form of organization, group, or entity (whether or not having separate legal personality).
“Prohibited Jurisdiction” means any of: Cuba, Democratic People’s Republic of Korea (North Korea), Iran, Russia and Syria.
“Prohibited Person” means the Government of Venezuela; any citizen or resident of, entity organized within, or Government or Government Official of, any Prohibited Jurisdiction; and any Sanctioned Person.
“Sanctions List” means the “Specially Designated Nationals and Blocked Persons” (“SDN”) List and the Non-SDN Lists, including the “Sectoral Sanctions Identifications List,” published by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”); the Section 311 Special Measures for Jurisdictions, Financial Institutions, or International Transactions of Primary Money Laundering Concern published by the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”); and, any other foreign terrorist organization or other sanctioned, restricted, or debarred party list published under Economic Sanctions, AML, or CFT Laws of or by Governments of the United States, European Union, United Kingdom, or the United Nations.
“Sanctioned Person” refers to any Person that is: (i) specifically listed in any Sanctions List; (ii) directly or indirectly owned 50 percent or more by any Person or group of Persons in the aggregate listed in any Sanctions List, (iii) Government or Government Official of any Prohibited Jurisdiction; or (iv) that is otherwise sanctioned, restricted, or penalized under applicable economic sanctions, AML, or CFT Laws.
“Services” means any and all services provided on our website or through the Program.
“Trade Ideas” means any virtual trade selections, signals, strategies, or other inputs that you submit through the Program.
2. Right to Use the Website
If you (i) are not a Prohibited Person, (ii) do not operate your Account for the benefit of a Prohibited Person and (iii) otherwise fully comply with this Agreement, we grant you the limited right to use the Services. The right to use the Services is a personal, restricted, non-exclusive, non-transferable, non-sublicensable, revocable, limited license, and it is subject to the limitations and obligations in this Agreement. Nothing in this Agreement gives you any license (other than as set out in this paragraph), right, title, or ownership of, in, or to the website, Program, any of the Services, the Copyrights, or the Marks. We may suspend or terminate the provision of Services to you or your Account at our sole discretion, as required by applicable Laws, where we determine that you have violated, breached, or acted inconsistent with any of this Agreement, or exposed us or any of our Affiliates to any liability under any applicable Laws.
Every Prohibited Person is strictly prohibited from directly or indirectly holding, owning or operating an Account in any way or otherwise using the Services or the website. No Account may be operated for the financial or other benefit of a Prohibited Person.
We may, in our sole and absolute discretion, without liability to you or any third-party, refuse to let you use of the website, Program and/or one or more of the Services. Such actions may be taken as a result of a number of factors, including without limitation legal/regulatory requirements or demand, our discretion, or your violation of the terms of this Agreement. We may also temporarily suspend your access to the website, Program and/or Services if a technical problem so requires.
− You may create, access, maintain, or operate only one Account in the Program and are strictly prohibited from creating or controlling multiple Accounts. Any violation of this single Account policy may result in immediate suspension or termination of all related Accounts, permanent banning of the user from the Program and a prohibition from trading or accessing our Services. These actions may be taken without prior notice, and we will have no liability to you for any such enforcement action.
2A. Institutional and Professional Accounts.
If you are an Institutional User, you represent, warrant, and agree that: (a) you have full power and authority to enter into this Agreement; (b) each Authorized Trader is duly authorized to act on your behalf; and (c) you are responsible for all acts and omissions of your Authorized Traders as if they were your own.
You acknowledge and agree that you are accessing and using the Services in a commercial capacity, are capable of evaluating the merits and risks of using the Services, and are not relying on us or any of our Affiliates for legal, tax, investment, accounting, or other advice.
You will maintain reasonable policies, procedures, and controls designed to ensure compliance with applicable Law (including sanctions, AML, and counter-terrorist financing requirements) and will provide information we reasonably request to verify such compliance.
We may require an Institutional User to execute a separate institutional addendum or other supplemental terms as a condition to access certain features (including APIs). In the event of a conflict, the supplemental terms will control with respect to the subject matter thereof.
3. Proprietary Rights
The trademarks, service marks and trade names, including both word marks and design marks on the website or in the Program or otherwise used in the provision of the Services (the “Mark(s)”) are used by us and our Affiliates under license. You agree not to appropriate, copy, display, reverse engineer, or use the Marks or other content without express, prior, written permission from us or the owner of the Marks, including as a domain name, as social media profile/handle, on a website, in an advertisement or other marketing, as or in connection with a phone number, as or in connection with an email address, in Internet search results, in meta data or code, or in any other manner.
Unless otherwise indicated, all materials on the website or in the Program or otherwise used in the provision of the Services are used by us under license (“Copyrights”). You agree not to appropriate, copy, display, or use the Copyrights or other content without express, prior, written permission from us or the third-party owner.
You may link to the website’s homepage or other pages, provided you do so in a way that is fair and legal and does not damage our reputation or take advantage of it, but you must not establish a link in such a way as to suggest any form of association, approval, or endorsement on our part without prior, express, written consent.
The Program may provide certain social media features that enable you to link, send communications, or display certain content from the website. You may use these features solely as they are provided by us. You may not establish a link from any website that is not owned by you, cause the Program or portions of it to be displayed on or by any other site (for example, by framing, deep linking, or in-line linking), or otherwise take any action with respect to the materials on the website or Program that is inconsistent with any other provision of this Agreement.
The website, Program and Services are protected by copyright, trademark, trade secret and other intellectual property or proprietary rights Laws in various jurisdictions. All rights not expressly granted to you in this Agreement are reserved by us or our licensor(s). Except as expressly authorized by us, you will not (i) license, sublicense, rent, sell, resell, transfer, assign, distribute, or otherwise commercially exploit or make available to any Person all or any part of the website, Program or Services in any way, (ii) copy, modify, republish, distribute, or make derivative works based upon all or any part of website, Program or Services, (iii) “frame” or “mirror” all or any part of the website, Program or Services on any other server or wireless or Internet-based device or (iv) reverse engineer or access all or any part of website, Program or its Services in order to (a) build a competitive product or service, (b) build a product or service using similar ideas, features, functions, or graphics of all or any part of the website, Program or Services or (c) copy any ideas, features, functions, or graphics of all or any part of the website, Program or Services.
4. Additional Rights
We reserve the following rights, which do not constitute obligations of ours: (a) with or without notice to you, to modify, substitute, eliminate or add to the website or Program; (b) to review, modify, filter, disable, delete and remove any and all content and information from the website or Program and (c) to the extent permitted by Law, to cooperate with any law enforcement, court or Government investigation or order, or third party requesting or directing that we disclose information or content or information that you provide.
5. Prohibited Uses
You may not:
− 1. use the website, Program or any Services in order to disguise the origin or nature of illicit proceeds of, or to further, any breach of applicable Laws, or to transact or deal in, any contraband digital assets or other funds or property of any kind derived from illegal activity;
− 2. use the website, Program or any Services if any applicable Laws would prohibit, penalize, sanction, or otherwise expose us to liability for any Services furnished or offered to you under this Agreement;
− 3. use the website or any Services to interfere with or subvert the rights or obligations of us or the rights or obligations of any other user of the website or any other Person;
− 4. use the website or any Services to engage in conduct that is detrimental to us or any other user of the website or any other Person;
− 5. falsify or materially omit any information or provide misleading or inaccurate information requested by us or any of our Affiliates at any time;
− 6. post, submit, publish, display, or transmit any advertising or promotional material without the prior written consent of us or our Affiliates;
− 7. engage in activity that seeks to interfere with or compromise the integrity, security, or proper functioning of any computer, server, network, personal device, or other information technology system, including (but not limited to) the deployment of viruses and denial of service attacks;
− 8. engage in activity that violates any applicable Law, rule, or regulation concerning the trading of securities or derivative;
− 9. use an Account, including an Instant Funded Account, or submit, sequence, size, or coordinate Trade Ideas to manipulate or attempt to manipulate the price, liquidity, trading volume, funding rate, reference price, benchmark, oracle, or settlement value of any asset or instrument on the Program, Vest Exchange, or any other venue;
− 10. submit Trade Ideas in a manner intended to cause, or that you know or reasonably should know is likely to cause, us, our Affiliates, or any counterparty to place, route, hedge, rebalance, liquidate, or unwind live trades in a way that distorts markets, creates artificial prices or volume, or triggers liquidations or stop orders, including where you expect our Hedging Transactions on Vest Exchange or elsewhere to produce that effect;
− 11. trade on Vest Exchange or any other venue, whether directly or through another Person or Account, to anticipate, induce, front run, trade against, or profit from the actual or expected market impact of our or our Affiliates’ use of Trade Ideas or Hedging Transactions;
− 12. engage in wash trading, self-trading, spoofing, layering, matched or prearranged trading, marking the close, pump-and-dump schemes, or manipulation of price feeds, oracles, funding rates, or liquidation triggers in connection with the Program, whether directly or indirectly through other accounts, bots, entities under your control, or coordinated Persons;
− 13. collude with another Person, use multiple identities or Accounts, or exploit technical errors, latency, risk limits, payout calculations, or differences among trading venues to circumvent Program rules or obtain compensation based on artificial or distorted virtual results;
− 14. utilize the website, Program or any Services for the financial or other benefit of a Prohibited Person;
− 15. use any virtual private network (VPN) or other privacy or anonymization tools, technologies, or techniques to circumvent or attempt to circumvent any of the restrictions contained in this Agreement; or
− 16. violate, promote, cause a violation of, or conspire or attempt to violate this Agreement or applicable Laws.
− Any use as described in this section shall constitute a “Prohibited Use.” These restrictions apply to simulated Trade Ideas and attempts, whether or not we or any other Person enters into a live transaction or any market is actually affected. If we determine or reasonably suspect that you have engaged in any Prohibited Use, we may, in our sole discretion, suspend access or related payouts while we investigate, request information, decline to act on Trade Ideas, and report the conduct to any trading venue, Government, law enforcement, or other authority as permitted by Law. If we reasonably determine that a Prohibited Use occurred, we may invalidate affected virtual trades or performance, deny or recover compensation attributable to the conduct, suspend or terminate your access to the website, Program or Services, and seek other available remedies. Should your actions or inaction result in loss being suffered by us, you shall pay an amount to us so as to render us whole, including the amount of taxes or penalties that might be imposed on us.
6. About the Services
− 1. Virtual Trading and Signal Generation Platform. The Program is a virtual trading and signal generation platform that may include an Evaluation Process or provide Instant Funded Accounts without one. Users do not execute live trades and do not trade their own capital through the Program. Any live trading based on Trade Ideas is undertaken, if at all, solely by us or our Affiliates for our own accounts, through venues and counterparties we choose. Users provide inputs, strategies, or signals only. We retain full discretion over whether, how, and if any user-generated input is used in live trading activity. We do not act as your agent, broker, or intermediary and do not execute transactions on your behalf.
− 2. No Custody or Control. Users do not deposit funds for trading purposes. Any balances, metrics, or performance data displayed in the Program or any given Account, including an Instant Funded Account, are for evaluation, compensation calculation, or reference purposes only and do not represent ownership of assets or trading accounts. At no time does any user control a brokerage or exchange account, have authority to execute trades, or have custody of any funds used in trading. Any performance metrics, balances, or results displayed to you are notional, simulated, or programmatic in nature and do not correspond to any real account held for your benefit.
− 3. Evaluation Process and Eligibility. We may require you to complete an Evaluation Process before accessing certain Program features. We may also, in our sole discretion, waive that process in whole or in part for any user or category of users, including all users, and permit immediate access to an Instant Funded Account without any evaluation. We are not obligated to waive the Evaluation Process, offer an Instant Funded Account to any user, or continue offering a waiver or an Instant Funded Account for future enrollments. A waiver for another user does not entitle you to a waiver. If an Evaluation Process applies to you, completion is not guaranteed. Waiving the Evaluation Process does not waive identity or eligibility checks, risk limits, conduct restrictions, payout conditions, or any other applicable Program rule.
− 4. Compensation. Any compensation you may receive, if applicable, is determined solely in accordance with the Program rules, including applicable payout conditions and the restrictions on Prohibited Uses. Eligibility for an Instant Funded Account does not guarantee any compensation. Any payment is Program compensation and not a distribution of profits from a live trade made for your account; it does not confer any ownership interest in our trading activity. You acknowledge and agree that we may receive revenue, rebates, or other financial incentives from third parties in connection with trading activity, such revenue is retained solely by us, and you have no claim, right, or entitlement to any such amounts.
− 5. Conflicts of Interest. You acknowledge and agree that conflicts of interest may exist between you and us, including but not limited to the fact that we may benefit financially from third-party incentives associated with Trade Ideas submitted by you, such incentives are not reflected in any performance metrics or payouts applicable to you, and we may generate revenue from fees for access to the Program, including Instant Funded Accounts and any Evaluation Process. You agree that we have no obligation to prioritize your interests over our own and we may act in our own commercial interests at all times. You further acknowledge that you have carefully considered these conflicts before participating in the Services and you expressly consent to such conflicts and waive any claim arising from them.
− 6. No Employment Relationship. You are not our employee, contractor, or agent, and nothing in this Agreement shall be deemed to create any employment or service relationship.
− 7. Unsolicited. You agree and understand that all virtual trades you submit through the Program are considered unsolicited, which means that you have not received any investment advice from us in connection with any virtual trades, and that we do not conduct a suitability review of any virtual trades you submit. You acknowledge and agree that any payments, rewards, or compensation you may receive are based solely on our Program rules and not derived from any ownership interest in, or entitlement to, profits generated by our trading activity. You further acknowledge that you have no expectation of profits derived from our efforts or those of any third party, and that your participation is limited to submitting Trade Ideas and complying with Program rules.
− 8. No Investment Advice. All information provided by the Program is for informational purposes only and should not be construed as investment advice. You should not take, or refrain from taking, any action based on any information contained in the Program. We do not make any investment recommendations to you or opine on the merits of any investment transaction or opportunity. You alone are responsible for determining whether any virtual investment, investment strategy or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance.
− 9. No Fiduciary Duties. To the fullest extent permitted by Law, you acknowledge and agree that we owe no fiduciary duties or liabilities to you or any other party, and that to the extent any such duties or liabilities may exist at Law or in equity, those duties and liabilities are hereby irrevocably disclaimed, waived, and eliminated. You further agree that the only duties and obligations that we owe you are those set out expressly in this Agreement.
− 10. Taxes. We encourage you to speak with your personal tax advisor regarding the tax implications of your participation in the Program and Services.
− 11. Jurisdiction. You acknowledge and agree that your access to and participation in the Program and Services constitutes entry into a contractual relationship with Vest Exchange Inc. in the Republic of Panama, and that, as between you and us, the Services are deemed to be offered and provided from within the Republic of Panama. Participation does not create a bilateral transaction between you and us for the purchase, sale, or exchange of any asset or an interest in a live trade. The Services are intended as virtual trading and discretionary submission of Trade Ideas and are not intended to constitute swaps, security-based swaps, or similar regulated instruments.
− 12. No Manipulation. You agree that you will not engage in any activity that seeks to manipulate the price or valuation of any digital asset or other instrument available in the Program. This includes, without limitation: (i) manipulating or attempting to manipulate on-chain or off-chain price feeds or oracles, (ii) exploiting known or unknown vulnerabilities in oracle mechanisms or data sources or (iii) coordinating with others to distort market prices or oracle inputs. The restrictions in Section 5 also apply to simulated Trade Ideas and attempts to induce or exploit our or our Affiliates’ actual or anticipated trading or Hedging Transactions.
− 13. Removal of Assets. WE MAY REMOVE A DIGITAL ASSET OR RELATED INSTRUMENT FROM THE PROGRAM AT ANY TIME, FOR ANY REASON AND WITHOUT PRIOR NOTICE. You acknowledge that while we are using commercially reasonable methods to provide virtual trading functionality to you through our Services, we do not guarantee that the Services will be consistently available. You agree that you assume all risks and potential losses associated with any digital asset being removed, price fluctuations or differences in actual versus indicated prices.
− 14. No Broker Services. You acknowledge and agree that we do not broker virtual trading orders on your behalf, negotiate terms for any virtual transaction, make investment recommendations, arrange financing, hold customer funds, process trade documentation or conduct independent asset valuations in connection with providing the Services. You are not a customer of any exchange, liquidity provider, or counterparty used by us. Any trading activity occurs exclusively between us (or our Affiliates or counterparty) and the market.
− 15. Fees. You may be subject to certain fees and commissions for participating in the Program, including for an Evaluation Process or access to an Instant Funded Account. Fees are not deposits, margin, or funds allocated to trading on your behalf. You agree to promptly pay such fees and commissions as set forth on the website or Program, which we may modify from time to time. Subject to the Refund Policy below, you agree that such fees are non-refundable once participation has commenced, regardless of performance or outcome.
− 16. Refund Policy. Notwithstanding the provisions in Section 6(o) (Fees) and Section 19 (Chargeback Policy and Prevention of Fraudulent Disputes), you may request a refund of fees paid to access the Program by submitting a written request to our support team within twenty-eight (28) days of the date of purchase, provided that you have not engaged with the Program or any Account, including placing any virtual trades, using an Instant Funded Account, or participating in the Evaluation Process.
− You agree that any use of the Program, including engaging in any trading-related activity, constitutes commencement of participation and renders all fees non-refundable.
− You further agree that any refund request must be submitted directly to us in accordance with this Section prior to initiating any chargeback. Initiating a chargeback without first complying with this Section may be treated as an unjustified dispute under Section 19 of this Agreement. We reserve the right to determine eligibility for refunds in our reasonable discretion and to deny any request that does not satisfy the foregoing conditions.
− 17. Non-Reliance. You acknowledge and agree that in entering into this Agreement and using the Services you have not relied and are not relying on any representations, warranties or other statements whatsoever, whether written or oral (from or by us or any person acting on our behalf and including any statements made on social media, Discord, or marketing materials) other than those expressly set out in this Agreement (or other related documents referred to herein) and that you do not have any right or remedy rising out of any representation, warranty or other statement not expressly set out in this Agreement.
6A. Hedging Activities
− We and our Affiliates may, but are not obligated to, evaluate, use, modify, aggregate, disregard, or act contrary to Trade Ideas and may enter into Hedging Transactions or other trades for our own accounts and at our own risk using our own capital, treasury assets, or balance sheet resources. We decide independently whether, when, how, in what size, and where to trade or hedge, including whether to place some or all such transactions on Vest Exchange, an affiliated trading venue. Such transactions may affect market prices or liquidity there or elsewhere. Our choice to trade or hedge does not give you any right to direct our activity or any ownership interest in a resulting position, and the restrictions in Section 5 apply to efforts to induce, exploit, or manipulate that activity.
Such Hedging Transactions may include, without limitation:
− 1. entering into transactions involving digital assets or equities or derivatives referencing digital assets or equities on Vest Exchange, an affiliated trading venue, or on third-party trading venues or markets;
− 2. acquiring, selling, borrowing, lending, or otherwise transacting in digital assets or equities; or
− 3. other risk management activities designed to manage exposure associated with the Program or with trades that we choose to undertake based on Trade Ideas.
7. No Warranties
The website and Program is provided on an “AS IS” and “AS AVAILABLE” basis. To the maximum extent permitted by Law, we disclaim any representations and warranties of any kind, whether express, implied, or statutory, including (but not limited to) the warranties of merchantability and fitness for a particular purpose. To the maximum extent permitted by Law, you acknowledge and agree that your use of the website and Program is at your own risk; we do not represent or warrant that access to the website and Program will be continuous, uninterrupted, timely, or secure; that the information contained in the website or Program will be accurate, reliable, complete or current; or that the website or Program will be free from errors, defects, viruses, or other harmful elements. No advice, information, or statement that we make should be treated as creating any warranty concerning the website or Program. We do not endorse, guarantee, or assume responsibility for any advertisements, offers, or statements made by third parties concerning the website or Program.
− 8. Assumption of Risk
The Program includes simulated trading environments and internal performance tracking systems. These systems may contain errors, delays, or inaccuracies and may not reflect real market conditions.
We make no representation that any simulated or internal results correspond to actual market outcomes or realizable trading performance.
9. Third-Party Resources and Promotions
The website may contain references or links to third-party resources, including (but not limited to) information, materials, products, or services, that we do not own or control. In addition, third parties may offer promotions related to your access and participation in the Program. We do not endorse or assume any responsibility for any such resources or promotions. If you access any such resources or participate in any such promotions, you do so at your own risk, and you understand that this Agreement does not apply to your dealings or relationships with any third parties. To the maximum extent permitted by Law, you relieve us of any and all liability arising from your use of any such resources or participation in any such promotions.
10. Release of Claims
To the maximum extent permitted by Law, you expressly agree that you assume all risks in connection with your access and use of the website and your participation in the Program. To the maximum extent permitted by Law, you further expressly waive and release us from any and all liability, claims, causes of action, or damages arising from or in any way relating to your use of the website and your participation in the Program.
11. Indemnity
− You agree to hold harmless, release, defend, and indemnify us and our officers, directors, employees, contractors, agents and Affiliates from and against all claims, damages, obligations, losses, liabilities, costs and expenses arising from: (a) your access and use of the website and your participation in the Program; (b) your violation of any term or condition of this Agreement, the right of any third party or any other applicable Law, rule or regulation or any inaccuracy in any representation made by you in this Agreement and (c) any other party’s access and use of the website or participation in the Program with your assistance or using any device or account that you own or control.
In furtherance and not in limitation of the foregoing, you agree to promptly reimburse us for all costs and expenses that we may incur when responding to, defending and/or settling any actual or threatened claims made by any third party alleging facts that could reasonably give rise to indemnification by you under this Agreement.
12. Limitation of Liability
Without limiting the following, to the maximum extent permitted by Law, we will not be liable for any losses arising from the operational and infrastructure risks described in Section 8, including any resulting liquidations, pricing errors, or inability to access the Services.
Under no circumstances shall we or any of our officers, directors, employees, contractors, agents, or Affiliates be liable to you for any indirect, punitive, incidental, special, consequential, or exemplary damages, including (but not limited to) damages for loss of profits, goodwill, use, data, or other intangible property, arising out of or relating to any access or use of the website or participation in the Program, nor will we be responsible for any damage, loss, or injury resulting from hacking, tampering, or other unauthorized access or use of the website or Program or the information contained within it. We assume no liability or responsibility for any: (a) errors, mistakes, or inaccuracies of content; (b) personal injury or property damage, of any nature whatsoever, resulting from any access or use of the website or Program; (c) unauthorized access or use of any secure server or database in our control, or the use of any information or data stored therein; (d) interruption or cessation of function related to the website or the Program; (e) bugs, viruses, trojan horses, or the like that may be transmitted to or through the website or Program; (f) errors or omissions in, or loss or damage incurred as a result of the use of, any content made available through the website or Program; and (g) the defamatory, offensive, or illegal conduct of any third party.
− Under no circumstances shall we or any of our officers, directors, employees, contractors, agents, affiliates, or subsidiaries be liable to you for any claims, proceedings, liabilities, obligations, damages, losses, or costs in an amount exceeding the amount you paid to us in exchange for access to and use of the website or Program, or 100 Panamanian Balboa (PAB), whichever is greater. This limitation of liability applies regardless of whether the alleged liability is based on contract, tort, negligence, strict liability, or any other basis, and even if we have been advised of the possibility of such liability. Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of certain liabilities and damages. Accordingly, some of the disclaimers and limitations set forth in this Agreement may not apply to you. This limitation of liability shall apply to the maximum extent permitted by Law.
13. Resolution of Disputes
We will use our best efforts to resolve any potential disputes through informal, good faith negotiations. If a potential dispute arises, you must contact us by sending an email to <> so that we can attempt to resolve it without resorting to formal dispute resolution. If we aren’t able to reach an informal resolution within ninety days of your email, then you and we both agree to resolve the potential dispute according to the process set forth below.
All disputes arising out of or in connection with this Agreement, or any other acts or omissions for which you may contend that we are liable, including (but not limited to) any claim or controversy as to arbitrability, shall be finally settled by arbitration administered by the Panama Conciliation and Arbitration Centre in accordance with its procedural rules. You understand that you are required to resolve all disputes by final arbitration. The arbitration shall occur in English and will be held in the Republic of Panama, unless you and we both agree to hold it elsewhere. Unless we agree otherwise, the arbitrator may not consolidate your claims with those of any other party.
14. Class Action and Jury Trial Waiver
You must bring any and all disputes against us in your individual capacity and not as a plaintiff in or member of any purported class action, collective action, private attorney general action or other representative proceeding. This provision applies to class arbitration. You and we both agree to waive the right to demand a trial by jury.
15. Governing Law
You agree that the laws of the Republic of Panama, without regard to principles of conflict of laws, govern this Agreement and any dispute between you and us. You further agree that the Program shall be deemed to be based solely in the Republic of Panama, and that although the website or Program may be available in other jurisdictions, its availability does not give rise to general or specific personal jurisdiction in any forum outside the Republic of Panama.
16. Language and Contact Details; Feedback
The Agreement and any information or notifications that you or we are to provide shall be in English. If you have any questions relating to these Agreement, your rights and obligations arising from this Agreement and/or your use of the website or Program or any other matter, please contact <>.
If you choose to provide us with input or suggestions regarding problems with or proposed modifications or improvements to the website, Program and/or Services (“Feedback”), then you grant to us a non-exclusive, royalty-free, perpetual, irrevocable, transferable, sublicensable and global right to use and exploit the Feedback in any manner and for any purpose without any restriction, credit, attribution or fees due to you.
You acknowledge and agree that any Trade Ideas are non-binding suggestions only. We retain sole and absolute discretion to determine whether and how to utilize any Trade Idea. Without limitation, we may:
− 1. record a Trade Idea internally and simulate or calculate a hypothetical outcome without executing any transaction; or
− 2. execute, modify, or hedge a transaction based on a Trade Idea using our own capital on Vest Exchange, an affiliated trading venue, or through one or more third-party trading venues or counterparties, including exchanges or market makers.
You acknowledge and agree that you have no right to require us to execute any Trade Idea, you have no control over execution, routing, counterparties, or timing; and you may not have visibility into whether or how any Trade Idea is utilized.
17. Privacy
All information we collect on this website and Services is subject to our Privacy Policy. By using the website and/or Services, you consent to all actions taken by us with respect to your information in compliance with our Privacy Policy.
Our Privacy Policy is a part of this Agreement. Please review our Privacy Policy, which also governs the website and Program and informs users of our data collection practices.
− Please note that it is our policy to comply with all facially valid subpoenas, court orders or binding orders issued to us by law enforcement agencies and other Government Officials. This may affect your access to the website and Services, your funds and our services to you. We are not responsible for any losses, whether direct or indirect, that you may incur as a result of our compliance with applicable Law, the guidance or direction of any regulatory authority or Government Official, or any writ of attachment, lien, levy, subpoena, warrant or other legal order.
In order to provide certain features of the Services, we may use Plaid Inc. (“Plaid”), a third-party service provider, to enable you to connect your bank account or other financial accounts.
By using our Services, you acknowledge and agree that you are providing your information to Plaid and that Plaid may collect, use, and store your information in accordance with its privacy policy.
You expressly authorize Plaid to access and process your financial information on your behalf, including account and transaction data, as necessary to provide the Services.
Your use of Plaid is subject to Plaid’s Privacy Policy, available at: <https://plaid.com/legal/#privacy-policy>
You acknowledge and agree that we are not responsible for Plaid’s data practices, and that Plaid’s collection and use of your information is governed solely by its own policies.
18. Notice for California Users
Under California Civil Code Section 1789.3, California website users are entitled to the following specific consumer rights notice: The Complaint Assistance Unit of the Division of Consumer Services of the California Department of Consumer Affairs may be contacted in writing at 400 R Street, Suite 1080, Sacramento, California 95814, or by telephone at (916) 445-1254 or (800) 952-5210.
19. Chargeback Policy and Prevention of Fraudulent Disputes
By purchasing or obtaining access to the Program, including an Evaluation Process or an Instant Funded Account, you acknowledge and agree to the following terms in this Section 19. These terms are designed to protect both you and us from fraudulent disputes and to ensure fair and transparent operations.
− Initiating a chargeback without legitimate cause, particularly after having accessed, utilized, and demonstrably benefited from our Services, may constitute fraudulent or abusive conduct. Legitimate causes for a chargeback are limited to instances of actual unauthorized transactions where your payment details were stolen or used fraudulently, or in rare cases where there was a demonstrable non-delivery of the service as described and agreed upon, and you have exhausted all reasonable attempts to resolve the issue directly with us.
− Claims such as “transaction unauthorized” or “service not as described” made after you have demonstrably engaged with and benefited from our Services, including but not limited to accessing your Account, placing virtual trades, participating in an evaluation (whether passed or not), receiving an Instant Funded Account, or processing payouts, will be vigorously disputed by us.
− In the event of a chargeback initiated without legitimate cause, we reserve the right to:
− 3. Vigorously dispute the chargeback with the relevant financial institution, providing all evidence of service delivery, user engagement, and adherence to this Agreement.
− 4. Suspend or terminate your access to the Program and all associated services, including any Accounts, virtually funded accounts, or pending payouts, immediately and without prior notice.
− 5. Pursue legal action against you for damages incurred as a result of the fraudulent chargeback, including but not limited to, the original transaction amount, chargeback fees, administrative costs, legal fees, and any other associated losses or expenses sustained by us.
− 6. Report the fraudulent activity to relevant credit bureaus, financial institutions, and law enforcement agencies, which may negatively impact your credit rating and financial standing.
− Prior to initiating any chargeback, you are obligated to first contact our customer support to attempt to resolve any issues or concerns you may have regarding the Service. We are committed to addressing legitimate concerns promptly and fairly. Failure to exhaust reasonable attempts to resolve an issue directly with us before initiating a chargeback may be considered evidence of an unjustified dispute.
20. Entire Agreement
− This Agreement (including the Privacy Policy) constitute the entire agreement between you and us with respect to the subject matter hereof. This Agreement supersedes any and all prior or contemporaneous written and oral agreements, communications and other understandings (if any) relating to the subject matter of this Agreement.
No waiver of by us of any term or condition set out in this Agreement will be deemed a further or continuing waiver of such term or condition or a waiver of any other term or condition, and any failure of us to assert a right or provision under this Agreement will not constitute a waiver of such right or provision.
If any provision of this Agreement is held by a court or other tribunal of competent jurisdiction to be invalid, illegal or unenforceable for any reason, such provision will be eliminated or limited to the minimum extent such that the remaining provisions of this Agreement will continue in full force and effect.
After
Prop Terms of Service
Vest Prop Trading
Terms of Service
+ Last updated: October 6, 2026
Welcome to next.vestmarkets.com, a simulated proprietary trading program (the “Program”) provided by Vest Exchange Inc., a Panama corporation (“we,” “our,” or “us”).
+ IMPORTANT PROGRAM DISCLOSURE. All Accounts, including Instant Funded Accounts, are simulated. No real trading capital, assets, margin, or collateral are credited or entrusted to you. Fees purchase access to the applicable Program services, not assets or a live trading account. Payment of a fee or access to an Instant Funded Account does not itself entitle you to compensation. Any compensation depends on your own eligible simulated activity and satisfaction of the applicable Program Rules. You may receive no compensation and lose the entire amount of your fees.
This Terms of Service Agreement (the “Agreement”) explains the terms and conditions by which you may access and participate in the Program. You must read this Agreement carefully. By accessing or using the Program, you acknowledge that you have read, understand, and agree to be bound by this Agreement in its entirety. You also represent that you have the legal authority to accept this Agreement on behalf of yourself and any party you represent in connection with your use of the Services and/or Program. If you do not agree, you are not authorized to access or participate in the Program.
PLEASE READ THIS AGREEMENT CAREFULLY AS IT GOVERNS YOUR PARTICIPATION IN THE PROGRAM. THE AGREEMENT CONTAINS IMPORTANT INFORMATION, INCLUDING A BINDING ARBITRATION PROVISION AND A CLASS ACTION WAIVER, BOTH OF WHICH IMPACT YOUR RIGHTS AS TO HOW DISPUTES ARE RESOLVED. YOU SHOULD ONLY PARTICIPATE IN THE PROGRAM IF YOU AGREE COMPLETELY WITH THE AGREEMENT.
+ Information in relation to the way we handle personal information is included in our Privacy Statement, available at next.vestmarkets.com/privacy-policy (our “Privacy Policy”).
This Agreement may be amended, changed, or updated by us at any time and without prior notice to you. You should check back often on the website to confirm that your copy and understanding of this Agreement is current and correct. Your non-termination or continued access or use of the website or any Services after the effective date of any amendments, changes, or updates constitutes your acceptance of the Agreement, as modified by such amendments, changes, or updates. We may modify, suspend, or terminate any aspect of the Program, including evaluation criteria, compensation structures, or eligibility requirements, at any time in our sole discretion.
The access to or participation in the Program and any of the Services is void where such access or use is prohibited by, would constitute a violation of, or would be subject to penalties under applicable Laws, and shall not be the basis for the assertion or recognition of any interest, right, remedy, power, or privilege.
1. Definitions
In these Agreement and all documents incorporated herein by reference, the following words have the following meanings unless otherwise indicated:
+ “Account” means a separate simulated account record in the Program used to record virtual balances, Trade Ideas, performance metrics, and other usage of the Services, including an Evaluation Account or an Instant Funded Account. An Account is distinct from the user registration profile through which you access it and is not a brokerage, exchange, deposit, or custodial account.
“Affiliate” means, in relation to us, a direct or indirect subsidiary or parent, and any other entities that we may control, be controlled by, or be under common control with.
“AML” means anti-money laundering, including all applicable Laws prohibiting money laundering or any acts or attempted acts to conceal or disguise the identity or origin of; change the form of; or move, transfer, or transport, illicit proceeds, property, funds, fiat currency, or digital assets.
“Anti-Corruption” means all applicable Laws prohibiting corruption or bribery of government officials of any kind, including kickbacks, inducements, and any other forms of corruption or bribery.
“Authorized Trader” means any natural person authorized by an Institutional User to access or use the Services on its behalf.
“CFT” means countering the financing of terrorism.
+ “Evaluation Account” means an Account used to participate in an Evaluation Process. An Evaluation Account is not payout eligible while it remains in the evaluation stage.
“Evaluation Process” means an assessment that we may require for a particular user, Account, or Program offering to assess trading skill, risk management, and adherence to specified trading parameters.
“Instant Funded Account” means an Account to which we grant access to a payout eligible stage of the Program without requiring completion of an Evaluation Process. It is a virtual Program designation, not an account containing assets funded for your benefit or authorizing you to execute live trades.
“Government” means any national, federal, state, municipal, local, or foreign branch of government, including any department, agency, subdivision, bureau, commission, court, tribunal, arbitral body, or other governmental, government appointed, or quasi-governmental authority or component exercising executive, legislative, juridical, regulatory, or administrative powers, authority, or functions of or pertaining to a government instrumentality, including any parasternal company, or state-owned (majority or greater) or controlled business enterprise.
“Government Official” means an officer or employee of any Government, a director, officer, or employee of any instrumentality of any Government, a candidate for public office, a political party or political party official, an officer or employee of a public international organization, and any Person who is acting in an official capacity for any of the foregoing, even if such Person is acting in that capacity temporarily and without compensation.
“Hedging Transactions” means risk management transactions undertaken by us or our Affiliates for our own accounts, using our own capital or assets, to manage exposure associated with the Program or with trades we choose to enter into based on Trade Ideas.
“Institutional User” means any user that is an entity (including any fund or other investment vehicle).
“Laws” means all laws, statutes, orders, regulations, rules, treaties, and/or official obligations or requirements enacted, promulgated, issued, ratified, enforced, or administered by any Government that apply to you, to us, or to the Program.
“Person” includes an individual, association, partnership, corporation, company, other body corporate, trust, estate, and any form of organization, group, or entity (whether or not having separate legal personality).
+ “Program Rules” means the product specific eligibility, fee, simulation, risk management, conduct, and compensation rules made available to you for the applicable Account or Program offering and incorporated into this Agreement under Section 6(r).
“Prohibited Jurisdiction” means any of: Cuba, Democratic People’s Republic of Korea (North Korea), Iran, Russia and Syria.
“Prohibited Person” means the Government of Venezuela; any citizen or resident of, entity organized within, or Government or Government Official of, any Prohibited Jurisdiction; and any Sanctioned Person.
“Sanctions List” means the “Specially Designated Nationals and Blocked Persons” (“SDN”) List and the Non-SDN Lists, including the “Sectoral Sanctions Identifications List,” published by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”); the Section 311 Special Measures for Jurisdictions, Financial Institutions, or International Transactions of Primary Money Laundering Concern published by the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”); and, any other foreign terrorist organization or other sanctioned, restricted, or debarred party list published under Economic Sanctions, AML, or CFT Laws of or by Governments of the United States, European Union, United Kingdom, or the United Nations.
“Sanctioned Person” refers to any Person that is: (i) specifically listed in any Sanctions List; (ii) directly or indirectly owned 50 percent or more by any Person or group of Persons in the aggregate listed in any Sanctions List, (iii) Government or Government Official of any Prohibited Jurisdiction; or (iv) that is otherwise sanctioned, restricted, or penalized under applicable economic sanctions, AML, or CFT Laws.
“Services” means any and all services provided on our website or through the Program.
“Trade Ideas” means any virtual trade selections, signals, strategies, or other inputs that you submit through the Program.
2. Right to Use the Website
If you (i) are not a Prohibited Person, (ii) do not operate your Account for the benefit of a Prohibited Person and (iii) otherwise fully comply with this Agreement, we grant you the limited right to use the Services. The right to use the Services is a personal, restricted, non-exclusive, non-transferable, non-sublicensable, revocable, limited license, and it is subject to the limitations and obligations in this Agreement. Nothing in this Agreement gives you any license (other than as set out in this paragraph), right, title, or ownership of, in, or to the website, Program, any of the Services, the Copyrights, or the Marks. We may suspend or terminate the provision of Services to you or your Account at our sole discretion, as required by applicable Laws, where we determine that you have violated, breached, or acted inconsistent with any of this Agreement, or exposed us or any of our Affiliates to any liability under any applicable Laws.
Every Prohibited Person is strictly prohibited from directly or indirectly holding, owning or operating an Account in any way or otherwise using the Services or the website. No Account may be operated for the financial or other benefit of a Prohibited Person.
We may, in our sole and absolute discretion, without liability to you or any third-party, refuse to let you use of the website, Program and/or one or more of the Services. Such actions may be taken as a result of a number of factors, including without limitation legal/regulatory requirements or demand, our discretion, or your violation of the terms of this Agreement. We may also temporarily suspend your access to the website, Program and/or Services if a technical problem so requires.
+ You may maintain only one user registration profile, but may open, access, maintain, or operate up to ten (10) Instant Funded Accounts and up to one hundred (100) Evaluation Accounts at any one time under that profile. These are separate limits, and you may hold both types concurrently. An Evaluation Account ceases to count toward its limit when it has passed, failed, or closed and is no longer available for evaluation trading. A suspended Account continues to count unless we close it or confirm otherwise. Limits for any other category of Account are governed by the applicable Program Rules. These limits apply per user, not per email address, device, wallet, payment method, or set of credentials. An Institutional User’s limit applies collectively to all of its Authorized Traders. You may not circumvent these limits through another Person, nominee, entity, or registration profile. Permission to hold multiple Accounts does not permit unauthorized account sharing or any Prohibited Use. Any violation of these account limits or restrictions may result in immediate suspension or termination of all related Accounts, permanent banning of the user from the Program and a prohibition from accessing our Services, subject to Sections 5 and 6(r).
+ If you are an individual, you represent that you are at least eighteen (18) years old and have reached the age of legal majority where you reside. Each Authorized Trader must meet those requirements. You must provide accurate identity, residence, beneficial ownership, and payment information and complete any verification we reasonably require before purchase, access, or payment of compensation, and on an ongoing basis. You must promptly notify us of material changes and may not misrepresent your location or use another Person’s identity. We may decline access or suspend affected Accounts or payments while required checks remain incomplete, subject to Section 6(r). These requirements also apply to Instant Funded Accounts.
2A. Institutional and Professional Accounts.
If you are an Institutional User, you represent, warrant, and agree that: (a) you have full power and authority to enter into this Agreement; (b) each Authorized Trader is duly authorized to act on your behalf; and (c) you are responsible for all acts and omissions of your Authorized Traders as if they were your own.
You acknowledge and agree that you are accessing and using the Services in a commercial capacity, are capable of evaluating the merits and risks of using the Services, and are not relying on us or any of our Affiliates for legal, tax, investment, accounting, or other advice.
You will maintain reasonable policies, procedures, and controls designed to ensure compliance with applicable Law (including sanctions, AML, and counter-terrorist financing requirements) and will provide information we reasonably request to verify such compliance.
We may require an Institutional User to execute a separate institutional addendum or other supplemental terms as a condition to access certain features (including APIs). In the event of a conflict, the supplemental terms will control with respect to the subject matter thereof.
3. Proprietary Rights
The trademarks, service marks and trade names, including both word marks and design marks on the website or in the Program or otherwise used in the provision of the Services (the “Mark(s)”) are used by us and our Affiliates under license. You agree not to appropriate, copy, display, reverse engineer, or use the Marks or other content without express, prior, written permission from us or the owner of the Marks, including as a domain name, as social media profile/handle, on a website, in an advertisement or other marketing, as or in connection with a phone number, as or in connection with an email address, in Internet search results, in meta data or code, or in any other manner.
Unless otherwise indicated, all materials on the website or in the Program or otherwise used in the provision of the Services are used by us under license (“Copyrights”). You agree not to appropriate, copy, display, or use the Copyrights or other content without express, prior, written permission from us or the third-party owner.
You may link to the website’s homepage or other pages, provided you do so in a way that is fair and legal and does not damage our reputation or take advantage of it, but you must not establish a link in such a way as to suggest any form of association, approval, or endorsement on our part without prior, express, written consent.
The Program may provide certain social media features that enable you to link, send communications, or display certain content from the website. You may use these features solely as they are provided by us. You may not establish a link from any website that is not owned by you, cause the Program or portions of it to be displayed on or by any other site (for example, by framing, deep linking, or in-line linking), or otherwise take any action with respect to the materials on the website or Program that is inconsistent with any other provision of this Agreement.
The website, Program and Services are protected by copyright, trademark, trade secret and other intellectual property or proprietary rights Laws in various jurisdictions. All rights not expressly granted to you in this Agreement are reserved by us or our licensor(s). Except as expressly authorized by us, you will not (i) license, sublicense, rent, sell, resell, transfer, assign, distribute, or otherwise commercially exploit or make available to any Person all or any part of the website, Program or Services in any way, (ii) copy, modify, republish, distribute, or make derivative works based upon all or any part of website, Program or Services, (iii) “frame” or “mirror” all or any part of the website, Program or Services on any other server or wireless or Internet-based device or (iv) reverse engineer or access all or any part of website, Program or its Services in order to (a) build a competitive product or service, (b) build a product or service using similar ideas, features, functions, or graphics of all or any part of the website, Program or Services or (c) copy any ideas, features, functions, or graphics of all or any part of the website, Program or Services.
4. Additional Rights
We reserve the following rights, which do not constitute obligations of ours: (a) with or without notice to you, to modify, substitute, eliminate or add to the website or Program; (b) to review, modify, filter, disable, delete and remove any and all content and information from the website or Program and (c) to the extent permitted by Law, to cooperate with any law enforcement, court or Government investigation or order, or third party requesting or directing that we disclose information or content or information that you provide.
5. Prohibited Uses
You may not:
+ (a) use the website, Program or any Services in order to disguise the origin or nature of illicit proceeds of, or to further, any breach of applicable Laws, or to transact or deal in, any contraband digital assets or other funds or property of any kind derived from illegal activity;
+ (b) use the website, Program or any Services if any applicable Laws would prohibit, penalize, sanction, or otherwise expose us to liability for any Services furnished or offered to you under this Agreement;
+ (c) use the website or any Services to interfere with or subvert the rights or obligations of us or the rights or obligations of any other user of the website or any other Person;
+ (d) use the website or any Services to engage in conduct that is detrimental to us or any other user of the website or any other Person;
+ (e) falsify or materially omit any information or provide misleading or inaccurate information requested by us or any of our Affiliates at any time;
+ (f) post, submit, publish, display, or transmit any advertising or promotional material without the prior written consent of us or our Affiliates;
+ (g) engage in activity that seeks to interfere with or compromise the integrity, security, or proper functioning of any computer, server, network, personal device, or other information technology system, including (but not limited to) the deployment of viruses and denial of service attacks;
+ (h) engage in activity that violates any applicable Law, rule, or regulation concerning the trading of securities or derivatives;
+ (i) use an Account, including an Instant Funded Account, or submit, sequence, size, or coordinate Trade Ideas to manipulate or attempt to manipulate the price, liquidity, trading volume, funding rate, reference price, benchmark, oracle, or settlement value of any asset or instrument on the Program, Vest Exchange, or any other venue;
+ (j) submit Trade Ideas in a manner intended to cause, or that you know or reasonably should know is likely to cause, us, our Affiliates, or any counterparty to place, route, hedge, rebalance, liquidate, or unwind live trades in a way that distorts markets, creates artificial prices or volume, or triggers liquidations or stop orders, including where you expect our Hedging Transactions on Vest Exchange or elsewhere to produce that effect;
+ (k) trade on Vest Exchange or any other venue, whether directly or through another Person or Account, to anticipate, induce, front run, trade against, or profit from the actual or expected market impact of our or our Affiliates’ use of Trade Ideas or Hedging Transactions;
+ (l) engage in wash trading, self-trading, spoofing, layering, matched or prearranged trading, marking the close, pump-and-dump schemes, or manipulation of price feeds, oracles, funding rates, or liquidation triggers in connection with the Program, whether directly or indirectly through other accounts, bots, entities under your control, or coordinated Persons;
+ (m) collude with another Person, use multiple identities or misuse multiple Accounts, or exploit technical errors, latency, risk limits, payout calculations, or differences among trading venues to circumvent Program Rules or obtain compensation based on artificial or distorted virtual results;
+ (n) utilize the website, Program or any Services for the financial or other benefit of a Prohibited Person;
+ (o) use any virtual private network (VPN) or other privacy or anonymization tools, technologies, or techniques to circumvent or attempt to circumvent any of the restrictions contained in this Agreement; or
+ (p) violate, promote, cause a violation of, or conspire or attempt to violate this Agreement or applicable Laws.
+ Any use as described in this section shall constitute a “Prohibited Use.” These restrictions apply to simulated Trade Ideas and attempts, whether or not we or any other Person enters into a live transaction or any market is actually affected. If we determine or reasonably suspect that you have engaged in any Prohibited Use, we may, in our sole discretion, suspend access or related payouts while we investigate, request information, decline to act on Trade Ideas, and report the conduct to any trading venue, Government, law enforcement, or other authority as permitted by Law. If we reasonably determine that a Prohibited Use occurred, we may invalidate affected virtual trades or performance, deny or recover compensation attributable to the conduct, suspend or terminate your access to the website, Program or Services, and seek other available remedies. Should a Prohibited Use by you result in loss being suffered by us, you shall pay an amount to us so as to render us whole, including the amount of taxes or penalties that might be imposed on us.
6. About the Services
+ (a) Virtual Trading and Signal Generation Platform. The Program is a virtual trading and signal generation platform that may include an Evaluation Process or provide Instant Funded Accounts without one. Users do not execute live trades and do not trade their own capital through the Program. Any live trading based on Trade Ideas is undertaken, if at all, solely by us or our Affiliates for our own accounts, through venues and counterparties we choose. Users provide inputs, strategies, or signals only. We retain full discretion over whether, how, and if any user-generated input is used in live trading activity. We do not act as your agent, broker, or intermediary and do not execute transactions on your behalf. A Trade Idea is an input to the simulation, not an instruction requiring a live transaction. The Program does not bring users together to purchase, sell, or exchange assets or financial contracts with one another.
+ (b) No Custody or Control. Users do not deposit funds for trading purposes. Any balances, metrics, or performance data displayed in the Program or any given Account, including an Instant Funded Account, are for evaluation, compensation calculation, or reference purposes only and do not represent ownership of assets or trading accounts. At no time does any user control a brokerage or exchange account, have authority to execute trades, or have custody of any funds used in trading. Any performance metrics, balances, or results displayed to you are notional, simulated, or programmatic in nature and do not correspond to any real account held for your benefit. References to account size, buying power, leverage, margin, positions, profits, or losses describe simulation parameters only, not capital, credit, assets, or financial positions provided to you. You do not owe simulated trading losses, negative balances, margin calls, or losses on our Hedging Transactions merely because you participate or submit Trade Ideas. This does not excuse disclosed service fees or liability for your breach of this Agreement. Simulated balances cannot be deposited, transferred, withdrawn, redeemed, or used to acquire assets; only compensation earned under Section 6(d) may become payable to you.
+ (c) Evaluation Process and Eligibility. We may require you to complete an Evaluation Process before accessing certain Program features. We may also, in our sole discretion, waive that process in whole or in part for any user or category of users, including all users, and permit immediate access to an Instant Funded Account without any evaluation. We are not obligated to waive the Evaluation Process, offer an Instant Funded Account to any user, or continue offering a waiver or an Instant Funded Account for future enrollments. A waiver for another user does not entitle you to a waiver. If an Evaluation Process applies to you, completion is not guaranteed, and activity in an Evaluation Account does not itself earn compensation. Any advancement remains subject to applicable identity, eligibility, and Program Rule compliance checks. Waiving the Evaluation Process does not waive identity or eligibility checks, risk limits, conduct restrictions, payout conditions, or any other applicable Program Rule.
+ (d) Compensation. Any compensation you may receive, if applicable, is determined solely in accordance with the Program Rules, including applicable payout conditions and the restrictions on Prohibited Uses. Eligibility for an Instant Funded Account does not guarantee any compensation. Compensation is for eligible Trade Ideas and simulated performance information you provide, subject to the disclosed performance, risk management, conduct, and other conditions in the applicable Program Rules. Simulated profit and loss may be an input to the disclosed formula, including a percentage calculation, but is not itself a withdrawable cash balance or an interest in any actual position. We will calculate and pay compensation earned under the applicable Program Rules within the disclosed payment timeframes, subject to verification and the permitted reviews and corrections in Sections 5, 6(r), and 8. Whether we use or hedge your Trade Ideas, and any actual gains or losses from doing so, do not determine your entitlement to compensation under those rules. Any payment is Program compensation and not a distribution of profits from a live trade made for your account; it does not confer any ownership interest in our trading activity. You acknowledge and agree that we may receive revenue, rebates, or other financial incentives from third parties in connection with trading activity, such revenue is retained solely by us, and you have no claim, right, or entitlement to any such amounts.
+ Compensation is paid from our general corporate funds, not from assets held for your benefit. Program fees form part of our general revenues and may be used to pay operating expenses, including Program compensation; we do not represent that payouts are funded by profitable live trading. We will not earmark user fees as a contest prize pool or make compensation depend on your ranking against other users or our receipt of fees from later participants. No portion of your fees is credited to an Account as real capital or a withdrawable balance.
+ (e) Conflicts of Interest. You acknowledge and agree that conflicts of interest may exist between you and us, including but not limited to the fact that we may benefit financially from third-party incentives associated with Trade Ideas submitted by you, such incentives are not reflected in any performance metrics or payouts applicable to you, and we may generate revenue from fees for access to the Program, including Instant Funded Accounts and any Evaluation Process. We also have a financial interest in the fees we retain and the compensation we pay, and we control the simulation settings and review of Program results. Subject to our express obligations under this Agreement and applicable Laws, we have no obligation to prioritize your interests over our own and may act in our own commercial interests. You further acknowledge that you have carefully considered these conflicts before participating in the Services and you consent to such conflicts and waive any claim arising from them. That consent does not authorize fraud, bad faith, undisclosed manipulation of simulated results, or failure to pay compensation otherwise due under the applicable Program Rules.
+ (f) No Employment or Agency Relationship. You are not our employee or agent, and nothing in this Agreement creates an employment, agency, partnership, or joint venture relationship. Your submission of Trade Ideas and simulated performance information, and any compensation for those activities, are governed by this Agreement. You have no authority to bind us, manage our assets, or trade on our behalf.
+ (g) Unsolicited. You agree and understand that all virtual trades you submit through the Program are considered unsolicited, which means that you have not received any investment advice from us in connection with any virtual trades, and that we do not conduct a suitability review of any virtual trades you submit. You acknowledge and agree that any payments, rewards, or compensation you may receive are based solely on our Program Rules and not derived from any ownership interest in, or entitlement to, profits generated by our trading activity. You further acknowledge that you have no expectation of profits derived from our efforts or those of any third party, and that your participation is limited to submitting Trade Ideas and complying with Program Rules.
+ (h) No Investment Advice. All information provided by the Program is for informational purposes only and should not be construed as investment advice. You should not take, or refrain from taking, any action based on any information contained in the Program. We do not make any investment recommendations to you or opine on the merits of any investment transaction or opportunity. You alone are responsible for determining whether any virtual investment, investment strategy or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance.
+ (i) No Fiduciary Duties. To the fullest extent permitted by Law, you acknowledge and agree that we owe no fiduciary duties or liabilities to you or any other party, and that to the extent any such duties or liabilities may exist at Law or in equity, those duties and liabilities are hereby irrevocably disclaimed, waived, and eliminated. You further agree that the only duties and obligations that we owe you are those set out expressly in this Agreement.
+ (j) Taxes. We encourage you to speak with your personal tax advisor regarding the tax implications of your participation in the Program and Services.
+ (k) Jurisdiction. You acknowledge and agree that your access to and participation in the Program and Services constitutes entry into a contractual relationship with Vest Exchange Inc. in the Republic of Panama, and that, as between you and us, the Services are deemed to be offered and provided from within the Republic of Panama. Participation does not create a bilateral transaction between you and us for the purchase, sale, or exchange of any asset or an interest in a live trade. The Services are intended as virtual trading and discretionary submission of Trade Ideas and are not intended to constitute swaps, security-based swaps, or similar regulated instruments.
+ (l) No Manipulation. You agree that you will not engage in any activity that seeks to manipulate the price or valuation of any digital asset or other instrument available in the Program. This includes, without limitation: (i) manipulating or attempting to manipulate on-chain or off-chain price feeds or oracles, (ii) exploiting known or unknown vulnerabilities in oracle mechanisms or data sources or (iii) coordinating with others to distort market prices or oracle inputs. The restrictions in Section 5 also apply to simulated Trade Ideas and attempts to induce or exploit our or our Affiliates’ actual or anticipated trading or Hedging Transactions.
+ (m) Removal of Assets. WE MAY REMOVE A DIGITAL ASSET OR RELATED INSTRUMENT FROM THE PROGRAM AT ANY TIME, FOR ANY REASON AND WITHOUT PRIOR NOTICE. You acknowledge that while we are using commercially reasonable methods to provide virtual trading functionality to you through our Services, we do not guarantee that the Services will be consistently available. You agree that you assume all risks and potential losses associated with any digital asset being removed, price fluctuations or differences in actual versus indicated prices.
+ (n) No Broker Services. You acknowledge and agree that we do not broker virtual trading orders on your behalf, negotiate terms for any virtual transaction, make investment recommendations, arrange financing, hold customer funds, process trade documentation or conduct independent asset valuations in connection with providing the Services. You are not a customer of any exchange, liquidity provider, or counterparty used by us. Any trading activity occurs exclusively between us (or our Affiliates or counterparty) and the market.
+ (o) Fees. You may be subject to certain fees for participating in the Program, including for an Evaluation Process or access to an Instant Funded Account. Fees pay for access to the applicable simulation, evaluation, analytics, or other Program services identified at purchase; they are not deposits, margin, loans to us, or funds allocated to trading on your behalf. The applicable service scope, fees, and any renewal, reset, or additional Account charges will be disclosed before you authorize the relevant purchase. Simulated commissions, funding charges, or other modeled trading costs are performance inputs under Section 8, not separately payable live trading commissions or a debt you owe. You agree to promptly pay such fees as set forth on the website or Program, which we may modify from time to time. Subject to the Refund Policy below, you agree that such fees are non-refundable once participation has commenced, regardless of performance or outcome.
+ (p) Refund Policy. Notwithstanding the provisions in Section 6(o) (Fees) and Section 19 (Chargeback Policy and Prevention of Fraudulent Disputes), you may request a refund of fees paid to access the Program by submitting a written request to our support team within twenty-eight (28) days of the date of purchase, provided that you have not commenced use of the Account or services covered by that purchase, including placing any virtual trades, using an Instant Funded Account, or participating in the Evaluation Process.
+ Use of the purchased Account or services, including placing virtual trades, constitutes commencement of participation and renders the associated fees non-refundable. Use of one Account does not, by itself, commence participation in another separately purchased Account.
+ Requests under this voluntary refund policy must be submitted directly to us. This policy does not limit any mandatory cancellation, refund, billing dispute, or chargeback rights under applicable Laws or applicable payment network rules. We reserve the right to determine eligibility for refunds in our reasonable discretion and to deny any request that does not satisfy the foregoing conditions.
+ (q) Non-Reliance. You acknowledge and agree that in entering into this Agreement and using the Services you have not relied and are not relying on any representations, warranties or other statements whatsoever, whether written or oral (from or by us or any person acting on our behalf and including any statements made on social media, Discord, or marketing materials) other than those expressly set out in this Agreement (or other related documents referred to herein) and that you do not have any right or remedy arising out of any representation, warranty or other statement not expressly set out in this Agreement.
+ (r) Program Rules; Changes and Review. Before you purchase an Account or otherwise enroll, we will make available the applicable Program Rules, including the service type and fees, applicable performance targets and loss or drawdown limits, prohibited strategies, compensation formula and eligibility conditions, any payout caps or minimum activity requirements, and verification and payment timeframes. You must review those rules. They form part of this Agreement but may not override its express good faith, notice, correction, or accrued compensation protections.
+ We may revise this Agreement or the Program Rules in our sole discretion, exercised in good faith. We will give reasonable advance notice of material changes through your registration profile or email before applying them to future activity. New or increased charges require advance disclosure and your authorization. We will not retroactively apply newly introduced conditions or simulation methods to otherwise valid completed activity, or use a later rule change to deny or reduce compensation earned under the rules in effect for that activity. Changes in model inputs under an already disclosed dynamic methodology are not, by themselves, rule changes. We may take immediate prospective action when reasonably necessary for legal compliance, security, fraud prevention, or material operational or market risks, with notice as soon as reasonably practicable where lawful.
+ We may temporarily withhold affected compensation while conducting a reasonable, good faith eligibility, error, or prohibited conduct review. We will conduct the review reasonably promptly, retain records supporting material adjustments, and provide a reasonably specific explanation of a material reduction, denial, or correction and an opportunity to request review at <>, except to the extent disclosure would violate Law or reasonably compromise security, fraud prevention, or proprietary methods. Suspension or termination does not, by itself, forfeit compensation already earned under the applicable Program Rules. Corrections and remedies for errors or Prohibited Uses remain subject to Sections 5 and 8. These protections apply notwithstanding any broader discretion, disclaimer, release, or limitation elsewhere in this Agreement.
+ (s) Personal, Non-Transferable Participation. Except as required by applicable Laws, Accounts, simulated balances, participation rights, and rights to Program compensation are personal to the registered user and may not be sold, assigned, pledged, tokenized, traded, or used as collateral. Compensation provisions may not be separated from the associated participation obligations or marketed as standalone financial interests. The Program does not provide a secondary market for those rights. You may not sell participation in your Accounts or operate them for undisclosed third parties. This does not prevent an Institutional User from acting through its disclosed Authorized Traders. Payments must be made to a bank account, wallet, or payment account held or lawfully controlled by the registered user and verified as we reasonably require.
6A. Hedging Activities
+ We and our Affiliates may, but are not obligated to, evaluate, use, modify, aggregate, disregard, or act contrary to Trade Ideas and may enter into Hedging Transactions or other trades for our own accounts and at our own risk using our own capital, treasury assets, or balance sheet resources. We decide independently whether, when, how, in what size, and where to trade or hedge, including whether to place some or all such transactions on Vest Exchange, an affiliated trading venue. Such transactions may affect market prices or liquidity there or elsewhere. Our choice to trade or hedge does not give you any right to direct our activity or any ownership interest in a resulting position, and the restrictions in Section 5 apply to efforts to induce, exploit, or manipulate that activity. All actual gains and losses on those transactions are for our or our Affiliates’ own accounts. Program participation does not authorize you to control an account on Vest Exchange or any other venue or bypass its separate access requirements.
Such Hedging Transactions may include, without limitation:
+ (a) entering into transactions involving digital assets or equities or derivatives referencing digital assets or equities on Vest Exchange, an affiliated trading venue, or on third-party trading venues or markets;
+ (b) acquiring, selling, borrowing, lending, or otherwise transacting in digital assets or equities; or
+ (c) other risk management activities designed to manage exposure associated with the Program or with trades that we choose to undertake based on Trade Ideas.
7. No Warranties
The website and Program is provided on an “AS IS” and “AS AVAILABLE” basis. To the maximum extent permitted by Law, we disclaim any representations and warranties of any kind, whether express, implied, or statutory, including (but not limited to) the warranties of merchantability and fitness for a particular purpose. To the maximum extent permitted by Law, you acknowledge and agree that your use of the website and Program is at your own risk; we do not represent or warrant that access to the website and Program will be continuous, uninterrupted, timely, or secure; that the information contained in the website or Program will be accurate, reliable, complete or current; or that the website or Program will be free from errors, defects, viruses, or other harmful elements. No advice, information, or statement that we make should be treated as creating any warranty concerning the website or Program. We do not endorse, guarantee, or assume responsibility for any advertisements, offers, or statements made by third parties concerning the website or Program.
+ 8. Simulation Methodology and Assumption of Risk
The Program includes simulated trading environments and internal performance tracking systems. These systems may contain errors, delays, or inaccuracies and may not reflect real market conditions.
We make no representation that any simulated or internal results correspond to actual market outcomes or realizable trading performance.
+ Simulation Variables. We may, in our sole discretion and subject to the good faith requirements below, design, apply, and adjust simulated market facts, assumptions, and variables intended to model conditions and effects that may occur in real trading. These may include volatility, price gaps, spreads, favorable or unfavorable slippage, liquidity and market depth, order size and concentration, execution latency, sequencing and queue priority, partial fills, rejected or unfilled orders, trading interruptions, funding charges, commissions, and other hypothetical transaction costs. We may model temporary or lasting price impact and other downstream effects of your simulated activity, including the estimated effects of placing, aggregating, hedging, liquidating, or unwinding positions corresponding to Trade Ideas. These effects may influence later simulated prices, fills, available liquidity, performance, or risk calculations and may take account of related Accounts or aggregate activity.
+ Effect on Results. Simulation inputs may use market data, proprietary models, or actual execution data, but need not reproduce an available quote or an actual trade. A modeled effect may apply whether or not we execute or hedge any corresponding live transaction. It may cause results to differ from displayed reference prices or results on another Account or venue and may affect virtual balances, drawdowns, account status, evaluation outcomes, and compensation eligibility or amounts. Reference prices are not guaranteed fill prices, and simulations do not predict achievable live performance. Using actual execution or hedge data as a model input does not make you personally liable to reimburse our actual trading losses or costs or give you rights in our actual gains.
+ Good Faith Administration. We will exercise our simulation discretion in good faith for legitimate modeling, risk management, operational, or Program integrity purposes. We will not selectively worsen a user’s fills or results merely because the user is profitable, fabricate an error or violation, or manipulate settings or results in bad faith to cause failure or avoid paying compensation otherwise due. Different treatment based on relevant factors such as instrument, timing, size, liquidity, strategy, Account type, or identified abuse is permitted; identical outcomes across Accounts are not promised.
+ Corrections. We may correct or invalidate affected virtual trades or recalculate results to remedy identifiable material market data, pricing, processing, or calculation errors, duplicate or corrupted records, or Prohibited Uses, or to apply the methodology in effect for the activity correctly. Corrections must have a reasonable, documented basis and be applied consistently to materially comparable circumstances, whether they increase or decrease results. We will not retrospectively introduce a different methodology to reprice otherwise valid completed activity or reverse an otherwise valid result solely because we incurred a live trading loss.
9. Third-Party Resources and Promotions
The website may contain references or links to third-party resources, including (but not limited to) information, materials, products, or services, that we do not own or control. In addition, third parties may offer promotions related to your access and participation in the Program. We do not endorse or assume any responsibility for any such resources or promotions. If you access any such resources or participate in any such promotions, you do so at your own risk, and you understand that this Agreement does not apply to your dealings or relationships with any third parties. To the maximum extent permitted by Law, you relieve us of any and all liability arising from your use of any such resources or participation in any such promotions.
10. Release of Claims
To the maximum extent permitted by Law, you expressly agree that you assume all risks in connection with your access and use of the website and your participation in the Program. To the maximum extent permitted by Law, you further expressly waive and release us from any and all liability, claims, causes of action, or damages arising from or in any way relating to your use of the website and your participation in the Program.
11. Indemnity
+ You agree to hold harmless, release, defend, and indemnify us and our officers, directors, employees, contractors, agents and Affiliates from and against all claims, damages, obligations, losses, liabilities, costs and expenses arising from: (a) your access and use of the website and your participation in the Program; (b) your violation of any term or condition of this Agreement, the right of any third party or any other applicable Law, rule or regulation or any inaccuracy in any representation made by you in this Agreement and (c) any other party’s access and use of the website or participation in the Program with your assistance or using any device or account that you own or control. This Section does not require you to reimburse ordinary simulated losses or losses on our proprietary trading or Hedging Transactions solely because you submit Trade Ideas, or to indemnify us for our fraud, willful misconduct, or bad faith.
In furtherance and not in limitation of the foregoing, you agree to promptly reimburse us for all costs and expenses that we may incur when responding to, defending and/or settling any actual or threatened claims made by any third party alleging facts that could reasonably give rise to indemnification by you under this Agreement.
12. Limitation of Liability
Without limiting the following, to the maximum extent permitted by Law, we will not be liable for any losses arising from the operational and infrastructure risks described in Section 8, including any resulting liquidations, pricing errors, or inability to access the Services.
Under no circumstances shall we or any of our officers, directors, employees, contractors, agents, or Affiliates be liable to you for any indirect, punitive, incidental, special, consequential, or exemplary damages, including (but not limited to) damages for loss of profits, goodwill, use, data, or other intangible property, arising out of or relating to any access or use of the website or participation in the Program, nor will we be responsible for any damage, loss, or injury resulting from hacking, tampering, or other unauthorized access or use of the website or Program or the information contained within it. We assume no liability or responsibility for any: (a) errors, mistakes, or inaccuracies of content; (b) personal injury or property damage, of any nature whatsoever, resulting from any access or use of the website or Program; (c) unauthorized access or use of any secure server or database in our control, or the use of any information or data stored therein; (d) interruption or cessation of function related to the website or the Program; (e) bugs, viruses, trojan horses, or the like that may be transmitted to or through the website or Program; (f) errors or omissions in, or loss or damage incurred as a result of the use of, any content made available through the website or Program; and (g) the defamatory, offensive, or illegal conduct of any third party.
+ Under no circumstances shall we or any of our officers, directors, employees, contractors, agents, affiliates, or subsidiaries be liable to you for any claims, proceedings, liabilities, obligations, damages, losses, or costs in an amount exceeding the amount you paid to us in exchange for access to and use of the website or Program, or 100 Panamanian Balboa (PAB), whichever is greater. This limitation of liability applies regardless of whether the alleged liability is based on contract, tort, negligence, strict liability, or any other basis, and even if we have been advised of the possibility of such liability. Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of certain liabilities and damages. Accordingly, some of the disclaimers and limitations set forth in this Agreement may not apply to you. This limitation of liability shall apply to the maximum extent permitted by Law. The foregoing limitations do not reduce our obligation to pay earned, unpaid Program compensation under Section 6(d), subject to permitted reviews and corrections, and do not apply to our fraud, willful misconduct, or bad faith.
13. Resolution of Disputes
We will use our best efforts to resolve any potential disputes through informal, good faith negotiations. If a potential dispute arises, you must contact us by sending an email to <> so that we can attempt to resolve it without resorting to formal dispute resolution. If we aren’t able to reach an informal resolution within ninety days of your email, then you and we both agree to resolve the potential dispute according to the process set forth below.
All disputes arising out of or in connection with this Agreement, or any other acts or omissions for which you may contend that we are liable, including (but not limited to) any claim or controversy as to arbitrability, shall be finally settled by arbitration administered by the Panama Conciliation and Arbitration Centre in accordance with its procedural rules. You understand that you are required to resolve all disputes by final arbitration. The arbitration shall occur in English and will be held in the Republic of Panama, unless you and we both agree to hold it elsewhere. Unless we agree otherwise, the arbitrator may not consolidate your claims with those of any other party.
14. Class Action and Jury Trial Waiver
You must bring any and all disputes against us in your individual capacity and not as a plaintiff in or member of any purported class action, collective action, private attorney general action or other representative proceeding. This provision applies to class arbitration. You and we both agree to waive the right to demand a trial by jury.
15. Governing Law
You agree that the laws of the Republic of Panama, without regard to principles of conflict of laws, govern this Agreement and any dispute between you and us. You further agree that the Program shall be deemed to be based solely in the Republic of Panama, and that although the website or Program may be available in other jurisdictions, its availability does not give rise to general or specific personal jurisdiction in any forum outside the Republic of Panama.
16. Language and Contact Details; Feedback
The Agreement and any information or notifications that you or we are to provide shall be in English. If you have any questions relating to these Agreement, your rights and obligations arising from this Agreement and/or your use of the website or Program or any other matter, please contact <>.
If you choose to provide us with input or suggestions regarding problems with or proposed modifications or improvements to the website, Program and/or Services (“Feedback”), then you grant to us a non-exclusive, royalty-free, perpetual, irrevocable, transferable, sublicensable and global right to use and exploit the Feedback in any manner and for any purpose without any restriction, credit, attribution or fees due to you.
You acknowledge and agree that any Trade Ideas are non-binding suggestions only. We retain sole and absolute discretion to determine whether and how to utilize any Trade Idea. Without limitation, we may:
+ (a) record a Trade Idea internally and simulate or calculate a hypothetical outcome without executing any transaction; or
+ (b) execute, modify, or hedge a transaction based on a Trade Idea using our own capital on Vest Exchange, an affiliated trading venue, or through one or more third-party trading venues or counterparties, including exchanges or market makers.
You acknowledge and agree that you have no right to require us to execute any Trade Idea, you have no control over execution, routing, counterparties, or timing; and you may not have visibility into whether or how any Trade Idea is utilized.
17. Privacy
All information we collect on this website and Services is subject to our Privacy Policy. By using the website and/or Services, you consent to all actions taken by us with respect to your information in compliance with our Privacy Policy.
Our Privacy Policy is a part of this Agreement. Please review our Privacy Policy, which also governs the website and Program and informs users of our data collection practices.
+ Please note that it is our policy to comply with all facially valid subpoenas, court orders or binding orders issued to us by law enforcement agencies and other Government Officials. This may affect your access to the website and Services, any compensation payable to you and our services to you. We are not responsible for any losses, whether direct or indirect, that you may incur as a result of our compliance with applicable Law, the guidance or direction of any regulatory authority or Government Official, or any writ of attachment, lien, levy, subpoena, warrant or other legal order.
In order to provide certain features of the Services, we may use Plaid Inc. (“Plaid”), a third-party service provider, to enable you to connect your bank account or other financial accounts.
By using our Services, you acknowledge and agree that you are providing your information to Plaid and that Plaid may collect, use, and store your information in accordance with its privacy policy.
You expressly authorize Plaid to access and process your financial information on your behalf, including account and transaction data, as necessary to provide the Services.
Your use of Plaid is subject to Plaid’s Privacy Policy, available at: <https://plaid.com/legal/#privacy-policy>
You acknowledge and agree that we are not responsible for Plaid’s data practices, and that Plaid’s collection and use of your information is governed solely by its own policies.
18. Notice for California Users
Under California Civil Code Section 1789.3, California website users are entitled to the following specific consumer rights notice: The Complaint Assistance Unit of the Division of Consumer Services of the California Department of Consumer Affairs may be contacted in writing at 400 R Street, Suite 1080, Sacramento, California 95814, or by telephone at (916) 445-1254 or (800) 952-5210.
19. Chargeback Policy and Prevention of Fraudulent Disputes
By purchasing or obtaining access to the Program, including an Evaluation Process or an Instant Funded Account, you acknowledge and agree to the following terms in this Section 19. These terms are designed to protect both you and us from fraudulent disputes and to ensure fair and transparent operations.
+ Initiating a chargeback that you know is false or lacks a legitimate basis may constitute fraudulent or abusive conduct. We may dispute a chargeback in good faith using accurate evidence of the transaction and services provided. Your use of the Services does not, by itself, establish that a chargeback is fraudulent or eliminate any legitimate billing dispute or other rights under applicable Laws or applicable payment network rules.
+ Claims such as “transaction unauthorized” or “service not as described” made after you have demonstrably engaged with and benefited from our Services, including but not limited to accessing your Account, placing virtual trades, participating in an evaluation (whether passed or not), receiving an Instant Funded Account, or processing payouts, may be disputed by us where we reasonably believe the claim is inaccurate. We will not treat a good faith exercise of legally protected dispute rights as a Prohibited Use.
+ If we reasonably determine that a chargeback was knowingly false, fraudulent, or otherwise abusive, we reserve the right, subject to applicable Laws, to:
+ (a) Vigorously dispute the chargeback with the relevant financial institution, providing all evidence of service delivery, user engagement, and adherence to this Agreement.
+ (b) Suspend or terminate your access to the Program and associated Accounts or services in accordance with this Agreement. Any withholding or forfeiture of compensation remains subject to Sections 5 and 6(r).
+ (c) Pursue legal action against you for damages incurred as a result of the fraudulent chargeback, including but not limited to, the original transaction amount, chargeback fees, administrative costs, legal fees, and any other associated losses or expenses sustained by us.
+ (d) Report substantiated fraudulent activity to the relevant financial institution or law enforcement authority to the extent permitted by applicable Laws. We will not threaten adverse credit reporting merely because you raise a good faith dispute.
+ We encourage you to contact our customer support to attempt to resolve concerns before initiating a chargeback, but you are not required to do so where applicable Laws or payment network rules provide otherwise, and you need not delay a dispute or miss an applicable deadline. We are committed to addressing legitimate concerns promptly and fairly. Nothing in this Section prohibits a good faith complaint to a regulator or waives mandatory consumer rights.
20. Entire Agreement
+ This Agreement (including the Privacy Policy and applicable Program Rules) constitutes the entire agreement between you and us with respect to the subject matter hereof. This Agreement supersedes any and all prior or contemporaneous written and oral agreements, communications and other understandings (if any) relating to the subject matter of this Agreement.
No waiver of by us of any term or condition set out in this Agreement will be deemed a further or continuing waiver of such term or condition or a waiver of any other term or condition, and any failure of us to assert a right or provision under this Agreement will not constitute a waiver of such right or provision.
If any provision of this Agreement is held by a court or other tribunal of competent jurisdiction to be invalid, illegal or unenforceable for any reason, such provision will be eliminated or limited to the minimum extent such that the remaining provisions of this Agreement will continue in full force and effect.
Prop Terms of Service
Vest Prop Trading
Terms of Service
− Last updated: September 28, 2026
+ Last updated: October 6, 2026
Welcome to next.vestmarkets.com, a simulated proprietary trading program (the “Program”) provided by Vest Exchange Inc., a Panama corporation (“we,” “our,” or “us”).
+ IMPORTANT PROGRAM DISCLOSURE. All Accounts, including Instant Funded Accounts, are simulated. No real trading capital, assets, margin, or collateral are credited or entrusted to you. Fees purchase access to the applicable Program services, not assets or a live trading account. Payment of a fee or access to an Instant Funded Account does not itself entitle you to compensation. Any compensation depends on your own eligible simulated activity and satisfaction of the applicable Program Rules. You may receive no compensation and lose the entire amount of your fees.
This Terms of Service Agreement (the “Agreement”) explains the terms and conditions by which you may access and participate in the Program. You must read this Agreement carefully. By accessing or using the Program, you acknowledge that you have read, understand, and agree to be bound by this Agreement in its entirety. You also represent that you have the legal authority to accept this Agreement on behalf of yourself and any party you represent in connection with your use of the Services and/or Program. If you do not agree, you are not authorized to access or participate in the Program.
PLEASE READ THIS AGREEMENT CAREFULLY AS IT GOVERNS YOUR PARTICIPATION IN THE PROGRAM. THE AGREEMENT CONTAINS IMPORTANT INFORMATION, INCLUDING A BINDING ARBITRATION PROVISION AND A CLASS ACTION WAIVER, BOTH OF WHICH IMPACT YOUR RIGHTS AS TO HOW DISPUTES ARE RESOLVED. YOU SHOULD ONLY PARTICIPATE IN THE PROGRAM IF YOU AGREE COMPLETELY WITH THE AGREEMENT.
− Information in relation to the way we handle personal information is included in our Privacy Statement, available at next.vestmarkets.com/privacy (our “Privacy Policy”).
+ Information in relation to the way we handle personal information is included in our Privacy Statement, available at next.vestmarkets.com/privacy-policy (our “Privacy Policy”).
This Agreement may be amended, changed, or updated by us at any time and without prior notice to you. You should check back often on the website to confirm that your copy and understanding of this Agreement is current and correct. Your non-termination or continued access or use of the website or any Services after the effective date of any amendments, changes, or updates constitutes your acceptance of the Agreement, as modified by such amendments, changes, or updates. We may modify, suspend, or terminate any aspect of the Program, including evaluation criteria, compensation structures, or eligibility requirements, at any time in our sole discretion.
The access to or participation in the Program and any of the Services is void where such access or use is prohibited by, would constitute a violation of, or would be subject to penalties under applicable Laws, and shall not be the basis for the assertion or recognition of any interest, right, remedy, power, or privilege.
1. Definitions
In these Agreement and all documents incorporated herein by reference, the following words have the following meanings unless otherwise indicated:
− “Account” means a user’s account in the Program and other records, all as utilized by us from time-to-time to record a user’s virtual balances of digital assets and other usage of the Services.
+ “Account” means a separate simulated account record in the Program used to record virtual balances, Trade Ideas, performance metrics, and other usage of the Services, including an Evaluation Account or an Instant Funded Account. An Account is distinct from the user registration profile through which you access it and is not a brokerage, exchange, deposit, or custodial account.
“Affiliate” means, in relation to us, a direct or indirect subsidiary or parent, and any other entities that we may control, be controlled by, or be under common control with.
“AML” means anti-money laundering, including all applicable Laws prohibiting money laundering or any acts or attempted acts to conceal or disguise the identity or origin of; change the form of; or move, transfer, or transport, illicit proceeds, property, funds, fiat currency, or digital assets.
“Anti-Corruption” means all applicable Laws prohibiting corruption or bribery of government officials of any kind, including kickbacks, inducements, and any other forms of corruption or bribery.
“Authorized Trader” means any natural person authorized by an Institutional User to access or use the Services on its behalf.
“CFT” means countering the financing of terrorism.
+ “Evaluation Account” means an Account used to participate in an Evaluation Process. An Evaluation Account is not payout eligible while it remains in the evaluation stage.
“Evaluation Process” means an assessment that we may require for a particular user, Account, or Program offering to assess trading skill, risk management, and adherence to specified trading parameters.
“Instant Funded Account” means an Account to which we grant access to a payout eligible stage of the Program without requiring completion of an Evaluation Process. It is a virtual Program designation, not an account containing assets funded for your benefit or authorizing you to execute live trades.
“Government” means any national, federal, state, municipal, local, or foreign branch of government, including any department, agency, subdivision, bureau, commission, court, tribunal, arbitral body, or other governmental, government appointed, or quasi-governmental authority or component exercising executive, legislative, juridical, regulatory, or administrative powers, authority, or functions of or pertaining to a government instrumentality, including any parasternal company, or state-owned (majority or greater) or controlled business enterprise.
“Government Official” means an officer or employee of any Government, a director, officer, or employee of any instrumentality of any Government, a candidate for public office, a political party or political party official, an officer or employee of a public international organization, and any Person who is acting in an official capacity for any of the foregoing, even if such Person is acting in that capacity temporarily and without compensation.
“Hedging Transactions” means risk management transactions undertaken by us or our Affiliates for our own accounts, using our own capital or assets, to manage exposure associated with the Program or with trades we choose to enter into based on Trade Ideas.
“Institutional User” means any user that is an entity (including any fund or other investment vehicle).
“Laws” means all laws, statutes, orders, regulations, rules, treaties, and/or official obligations or requirements enacted, promulgated, issued, ratified, enforced, or administered by any Government that apply to you, to us, or to the Program.
“Person” includes an individual, association, partnership, corporation, company, other body corporate, trust, estate, and any form of organization, group, or entity (whether or not having separate legal personality).
+ “Program Rules” means the product specific eligibility, fee, simulation, risk management, conduct, and compensation rules made available to you for the applicable Account or Program offering and incorporated into this Agreement under Section 6(r).
“Prohibited Jurisdiction” means any of: Cuba, Democratic People’s Republic of Korea (North Korea), Iran, Russia and Syria.
“Prohibited Person” means the Government of Venezuela; any citizen or resident of, entity organized within, or Government or Government Official of, any Prohibited Jurisdiction; and any Sanctioned Person.
“Sanctions List” means the “Specially Designated Nationals and Blocked Persons” (“SDN”) List and the Non-SDN Lists, including the “Sectoral Sanctions Identifications List,” published by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”); the Section 311 Special Measures for Jurisdictions, Financial Institutions, or International Transactions of Primary Money Laundering Concern published by the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”); and, any other foreign terrorist organization or other sanctioned, restricted, or debarred party list published under Economic Sanctions, AML, or CFT Laws of or by Governments of the United States, European Union, United Kingdom, or the United Nations.
“Sanctioned Person” refers to any Person that is: (i) specifically listed in any Sanctions List; (ii) directly or indirectly owned 50 percent or more by any Person or group of Persons in the aggregate listed in any Sanctions List, (iii) Government or Government Official of any Prohibited Jurisdiction; or (iv) that is otherwise sanctioned, restricted, or penalized under applicable economic sanctions, AML, or CFT Laws.
“Services” means any and all services provided on our website or through the Program.
“Trade Ideas” means any virtual trade selections, signals, strategies, or other inputs that you submit through the Program.
2. Right to Use the Website
If you (i) are not a Prohibited Person, (ii) do not operate your Account for the benefit of a Prohibited Person and (iii) otherwise fully comply with this Agreement, we grant you the limited right to use the Services. The right to use the Services is a personal, restricted, non-exclusive, non-transferable, non-sublicensable, revocable, limited license, and it is subject to the limitations and obligations in this Agreement. Nothing in this Agreement gives you any license (other than as set out in this paragraph), right, title, or ownership of, in, or to the website, Program, any of the Services, the Copyrights, or the Marks. We may suspend or terminate the provision of Services to you or your Account at our sole discretion, as required by applicable Laws, where we determine that you have violated, breached, or acted inconsistent with any of this Agreement, or exposed us or any of our Affiliates to any liability under any applicable Laws.
Every Prohibited Person is strictly prohibited from directly or indirectly holding, owning or operating an Account in any way or otherwise using the Services or the website. No Account may be operated for the financial or other benefit of a Prohibited Person.
We may, in our sole and absolute discretion, without liability to you or any third-party, refuse to let you use of the website, Program and/or one or more of the Services. Such actions may be taken as a result of a number of factors, including without limitation legal/regulatory requirements or demand, our discretion, or your violation of the terms of this Agreement. We may also temporarily suspend your access to the website, Program and/or Services if a technical problem so requires.
− You may create, access, maintain, or operate only one Account in the Program and are strictly prohibited from creating or controlling multiple Accounts. Any violation of this single Account policy may result in immediate suspension or termination of all related Accounts, permanent banning of the user from the Program and a prohibition from trading or accessing our Services. These actions may be taken without prior notice, and we will have no liability to you for any such enforcement action.
+ You may maintain only one user registration profile, but may open, access, maintain, or operate up to ten (10) Instant Funded Accounts and up to one hundred (100) Evaluation Accounts at any one time under that profile. These are separate limits, and you may hold both types concurrently. An Evaluation Account ceases to count toward its limit when it has passed, failed, or closed and is no longer available for evaluation trading. A suspended Account continues to count unless we close it or confirm otherwise. Limits for any other category of Account are governed by the applicable Program Rules. These limits apply per user, not per email address, device, wallet, payment method, or set of credentials. An Institutional User’s limit applies collectively to all of its Authorized Traders. You may not circumvent these limits through another Person, nominee, entity, or registration profile. Permission to hold multiple Accounts does not permit unauthorized account sharing or any Prohibited Use. Any violation of these account limits or restrictions may result in immediate suspension or termination of all related Accounts, permanent banning of the user from the Program and a prohibition from accessing our Services, subject to Sections 5 and 6(r).
+ If you are an individual, you represent that you are at least eighteen (18) years old and have reached the age of legal majority where you reside. Each Authorized Trader must meet those requirements. You must provide accurate identity, residence, beneficial ownership, and payment information and complete any verification we reasonably require before purchase, access, or payment of compensation, and on an ongoing basis. You must promptly notify us of material changes and may not misrepresent your location or use another Person’s identity. We may decline access or suspend affected Accounts or payments while required checks remain incomplete, subject to Section 6(r). These requirements also apply to Instant Funded Accounts.
2A. Institutional and Professional Accounts.
If you are an Institutional User, you represent, warrant, and agree that: (a) you have full power and authority to enter into this Agreement; (b) each Authorized Trader is duly authorized to act on your behalf; and (c) you are responsible for all acts and omissions of your Authorized Traders as if they were your own.
You acknowledge and agree that you are accessing and using the Services in a commercial capacity, are capable of evaluating the merits and risks of using the Services, and are not relying on us or any of our Affiliates for legal, tax, investment, accounting, or other advice.
You will maintain reasonable policies, procedures, and controls designed to ensure compliance with applicable Law (including sanctions, AML, and counter-terrorist financing requirements) and will provide information we reasonably request to verify such compliance.
We may require an Institutional User to execute a separate institutional addendum or other supplemental terms as a condition to access certain features (including APIs). In the event of a conflict, the supplemental terms will control with respect to the subject matter thereof.
3. Proprietary Rights
The trademarks, service marks and trade names, including both word marks and design marks on the website or in the Program or otherwise used in the provision of the Services (the “Mark(s)”) are used by us and our Affiliates under license. You agree not to appropriate, copy, display, reverse engineer, or use the Marks or other content without express, prior, written permission from us or the owner of the Marks, including as a domain name, as social media profile/handle, on a website, in an advertisement or other marketing, as or in connection with a phone number, as or in connection with an email address, in Internet search results, in meta data or code, or in any other manner.
Unless otherwise indicated, all materials on the website or in the Program or otherwise used in the provision of the Services are used by us under license (“Copyrights”). You agree not to appropriate, copy, display, or use the Copyrights or other content without express, prior, written permission from us or the third-party owner.
You may link to the website’s homepage or other pages, provided you do so in a way that is fair and legal and does not damage our reputation or take advantage of it, but you must not establish a link in such a way as to suggest any form of association, approval, or endorsement on our part without prior, express, written consent.
The Program may provide certain social media features that enable you to link, send communications, or display certain content from the website. You may use these features solely as they are provided by us. You may not establish a link from any website that is not owned by you, cause the Program or portions of it to be displayed on or by any other site (for example, by framing, deep linking, or in-line linking), or otherwise take any action with respect to the materials on the website or Program that is inconsistent with any other provision of this Agreement.
The website, Program and Services are protected by copyright, trademark, trade secret and other intellectual property or proprietary rights Laws in various jurisdictions. All rights not expressly granted to you in this Agreement are reserved by us or our licensor(s). Except as expressly authorized by us, you will not (i) license, sublicense, rent, sell, resell, transfer, assign, distribute, or otherwise commercially exploit or make available to any Person all or any part of the website, Program or Services in any way, (ii) copy, modify, republish, distribute, or make derivative works based upon all or any part of website, Program or Services, (iii) “frame” or “mirror” all or any part of the website, Program or Services on any other server or wireless or Internet-based device or (iv) reverse engineer or access all or any part of website, Program or its Services in order to (a) build a competitive product or service, (b) build a product or service using similar ideas, features, functions, or graphics of all or any part of the website, Program or Services or (c) copy any ideas, features, functions, or graphics of all or any part of the website, Program or Services.
4. Additional Rights
We reserve the following rights, which do not constitute obligations of ours: (a) with or without notice to you, to modify, substitute, eliminate or add to the website or Program; (b) to review, modify, filter, disable, delete and remove any and all content and information from the website or Program and (c) to the extent permitted by Law, to cooperate with any law enforcement, court or Government investigation or order, or third party requesting or directing that we disclose information or content or information that you provide.
5. Prohibited Uses
You may not:
− 1. use the website, Program or any Services in order to disguise the origin or nature of illicit proceeds of, or to further, any breach of applicable Laws, or to transact or deal in, any contraband digital assets or other funds or property of any kind derived from illegal activity;
− 2. use the website, Program or any Services if any applicable Laws would prohibit, penalize, sanction, or otherwise expose us to liability for any Services furnished or offered to you under this Agreement;
− 3. use the website or any Services to interfere with or subvert the rights or obligations of us or the rights or obligations of any other user of the website or any other Person;
− 4. use the website or any Services to engage in conduct that is detrimental to us or any other user of the website or any other Person;
− 5. falsify or materially omit any information or provide misleading or inaccurate information requested by us or any of our Affiliates at any time;
− 6. post, submit, publish, display, or transmit any advertising or promotional material without the prior written consent of us or our Affiliates;
− 7. engage in activity that seeks to interfere with or compromise the integrity, security, or proper functioning of any computer, server, network, personal device, or other information technology system, including (but not limited to) the deployment of viruses and denial of service attacks;
− 8. engage in activity that violates any applicable Law, rule, or regulation concerning the trading of securities or derivative;
− 9. use an Account, including an Instant Funded Account, or submit, sequence, size, or coordinate Trade Ideas to manipulate or attempt to manipulate the price, liquidity, trading volume, funding rate, reference price, benchmark, oracle, or settlement value of any asset or instrument on the Program, Vest Exchange, or any other venue;
− 10. submit Trade Ideas in a manner intended to cause, or that you know or reasonably should know is likely to cause, us, our Affiliates, or any counterparty to place, route, hedge, rebalance, liquidate, or unwind live trades in a way that distorts markets, creates artificial prices or volume, or triggers liquidations or stop orders, including where you expect our Hedging Transactions on Vest Exchange or elsewhere to produce that effect;
− 11. trade on Vest Exchange or any other venue, whether directly or through another Person or Account, to anticipate, induce, front run, trade against, or profit from the actual or expected market impact of our or our Affiliates’ use of Trade Ideas or Hedging Transactions;
− 12. engage in wash trading, self-trading, spoofing, layering, matched or prearranged trading, marking the close, pump-and-dump schemes, or manipulation of price feeds, oracles, funding rates, or liquidation triggers in connection with the Program, whether directly or indirectly through other accounts, bots, entities under your control, or coordinated Persons;
− 13. collude with another Person, use multiple identities or Accounts, or exploit technical errors, latency, risk limits, payout calculations, or differences among trading venues to circumvent Program rules or obtain compensation based on artificial or distorted virtual results;
− 14. utilize the website, Program or any Services for the financial or other benefit of a Prohibited Person;
− 15. use any virtual private network (VPN) or other privacy or anonymization tools, technologies, or techniques to circumvent or attempt to circumvent any of the restrictions contained in this Agreement; or
− 16. violate, promote, cause a violation of, or conspire or attempt to violate this Agreement or applicable Laws.
− Any use as described in this section shall constitute a “Prohibited Use.” These restrictions apply to simulated Trade Ideas and attempts, whether or not we or any other Person enters into a live transaction or any market is actually affected. If we determine or reasonably suspect that you have engaged in any Prohibited Use, we may, in our sole discretion, suspend access or related payouts while we investigate, request information, decline to act on Trade Ideas, and report the conduct to any trading venue, Government, law enforcement, or other authority as permitted by Law. If we reasonably determine that a Prohibited Use occurred, we may invalidate affected virtual trades or performance, deny or recover compensation attributable to the conduct, suspend or terminate your access to the website, Program or Services, and seek other available remedies. Should your actions or inaction result in loss being suffered by us, you shall pay an amount to us so as to render us whole, including the amount of taxes or penalties that might be imposed on us.
+ (a) use the website, Program or any Services in order to disguise the origin or nature of illicit proceeds of, or to further, any breach of applicable Laws, or to transact or deal in, any contraband digital assets or other funds or property of any kind derived from illegal activity;
+ (b) use the website, Program or any Services if any applicable Laws would prohibit, penalize, sanction, or otherwise expose us to liability for any Services furnished or offered to you under this Agreement;
+ (c) use the website or any Services to interfere with or subvert the rights or obligations of us or the rights or obligations of any other user of the website or any other Person;
+ (d) use the website or any Services to engage in conduct that is detrimental to us or any other user of the website or any other Person;
+ (e) falsify or materially omit any information or provide misleading or inaccurate information requested by us or any of our Affiliates at any time;
+ (f) post, submit, publish, display, or transmit any advertising or promotional material without the prior written consent of us or our Affiliates;
+ (g) engage in activity that seeks to interfere with or compromise the integrity, security, or proper functioning of any computer, server, network, personal device, or other information technology system, including (but not limited to) the deployment of viruses and denial of service attacks;
+ (h) engage in activity that violates any applicable Law, rule, or regulation concerning the trading of securities or derivatives;
+ (i) use an Account, including an Instant Funded Account, or submit, sequence, size, or coordinate Trade Ideas to manipulate or attempt to manipulate the price, liquidity, trading volume, funding rate, reference price, benchmark, oracle, or settlement value of any asset or instrument on the Program, Vest Exchange, or any other venue;
+ (j) submit Trade Ideas in a manner intended to cause, or that you know or reasonably should know is likely to cause, us, our Affiliates, or any counterparty to place, route, hedge, rebalance, liquidate, or unwind live trades in a way that distorts markets, creates artificial prices or volume, or triggers liquidations or stop orders, including where you expect our Hedging Transactions on Vest Exchange or elsewhere to produce that effect;
+ (k) trade on Vest Exchange or any other venue, whether directly or through another Person or Account, to anticipate, induce, front run, trade against, or profit from the actual or expected market impact of our or our Affiliates’ use of Trade Ideas or Hedging Transactions;
+ (l) engage in wash trading, self-trading, spoofing, layering, matched or prearranged trading, marking the close, pump-and-dump schemes, or manipulation of price feeds, oracles, funding rates, or liquidation triggers in connection with the Program, whether directly or indirectly through other accounts, bots, entities under your control, or coordinated Persons;
+ (m) collude with another Person, use multiple identities or misuse multiple Accounts, or exploit technical errors, latency, risk limits, payout calculations, or differences among trading venues to circumvent Program Rules or obtain compensation based on artificial or distorted virtual results;
+ (n) utilize the website, Program or any Services for the financial or other benefit of a Prohibited Person;
+ (o) use any virtual private network (VPN) or other privacy or anonymization tools, technologies, or techniques to circumvent or attempt to circumvent any of the restrictions contained in this Agreement; or
+ (p) violate, promote, cause a violation of, or conspire or attempt to violate this Agreement or applicable Laws.
+ Any use as described in this section shall constitute a “Prohibited Use.” These restrictions apply to simulated Trade Ideas and attempts, whether or not we or any other Person enters into a live transaction or any market is actually affected. If we determine or reasonably suspect that you have engaged in any Prohibited Use, we may, in our sole discretion, suspend access or related payouts while we investigate, request information, decline to act on Trade Ideas, and report the conduct to any trading venue, Government, law enforcement, or other authority as permitted by Law. If we reasonably determine that a Prohibited Use occurred, we may invalidate affected virtual trades or performance, deny or recover compensation attributable to the conduct, suspend or terminate your access to the website, Program or Services, and seek other available remedies. Should a Prohibited Use by you result in loss being suffered by us, you shall pay an amount to us so as to render us whole, including the amount of taxes or penalties that might be imposed on us.
6. About the Services
− 1. Virtual Trading and Signal Generation Platform. The Program is a virtual trading and signal generation platform that may include an Evaluation Process or provide Instant Funded Accounts without one. Users do not execute live trades and do not trade their own capital through the Program. Any live trading based on Trade Ideas is undertaken, if at all, solely by us or our Affiliates for our own accounts, through venues and counterparties we choose. Users provide inputs, strategies, or signals only. We retain full discretion over whether, how, and if any user-generated input is used in live trading activity. We do not act as your agent, broker, or intermediary and do not execute transactions on your behalf.
− 2. No Custody or Control. Users do not deposit funds for trading purposes. Any balances, metrics, or performance data displayed in the Program or any given Account, including an Instant Funded Account, are for evaluation, compensation calculation, or reference purposes only and do not represent ownership of assets or trading accounts. At no time does any user control a brokerage or exchange account, have authority to execute trades, or have custody of any funds used in trading. Any performance metrics, balances, or results displayed to you are notional, simulated, or programmatic in nature and do not correspond to any real account held for your benefit.
− 3. Evaluation Process and Eligibility. We may require you to complete an Evaluation Process before accessing certain Program features. We may also, in our sole discretion, waive that process in whole or in part for any user or category of users, including all users, and permit immediate access to an Instant Funded Account without any evaluation. We are not obligated to waive the Evaluation Process, offer an Instant Funded Account to any user, or continue offering a waiver or an Instant Funded Account for future enrollments. A waiver for another user does not entitle you to a waiver. If an Evaluation Process applies to you, completion is not guaranteed. Waiving the Evaluation Process does not waive identity or eligibility checks, risk limits, conduct restrictions, payout conditions, or any other applicable Program rule.
− 4. Compensation. Any compensation you may receive, if applicable, is determined solely in accordance with the Program rules, including applicable payout conditions and the restrictions on Prohibited Uses. Eligibility for an Instant Funded Account does not guarantee any compensation. Any payment is Program compensation and not a distribution of profits from a live trade made for your account; it does not confer any ownership interest in our trading activity. You acknowledge and agree that we may receive revenue, rebates, or other financial incentives from third parties in connection with trading activity, such revenue is retained solely by us, and you have no claim, right, or entitlement to any such amounts.
− 5. Conflicts of Interest. You acknowledge and agree that conflicts of interest may exist between you and us, including but not limited to the fact that we may benefit financially from third-party incentives associated with Trade Ideas submitted by you, such incentives are not reflected in any performance metrics or payouts applicable to you, and we may generate revenue from fees for access to the Program, including Instant Funded Accounts and any Evaluation Process. You agree that we have no obligation to prioritize your interests over our own and we may act in our own commercial interests at all times. You further acknowledge that you have carefully considered these conflicts before participating in the Services and you expressly consent to such conflicts and waive any claim arising from them.
− 6. No Employment Relationship. You are not our employee, contractor, or agent, and nothing in this Agreement shall be deemed to create any employment or service relationship.
− 7. Unsolicited. You agree and understand that all virtual trades you submit through the Program are considered unsolicited, which means that you have not received any investment advice from us in connection with any virtual trades, and that we do not conduct a suitability review of any virtual trades you submit. You acknowledge and agree that any payments, rewards, or compensation you may receive are based solely on our Program rules and not derived from any ownership interest in, or entitlement to, profits generated by our trading activity. You further acknowledge that you have no expectation of profits derived from our efforts or those of any third party, and that your participation is limited to submitting Trade Ideas and complying with Program rules.
− 8. No Investment Advice. All information provided by the Program is for informational purposes only and should not be construed as investment advice. You should not take, or refrain from taking, any action based on any information contained in the Program. We do not make any investment recommendations to you or opine on the merits of any investment transaction or opportunity. You alone are responsible for determining whether any virtual investment, investment strategy or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance.
− 9. No Fiduciary Duties. To the fullest extent permitted by Law, you acknowledge and agree that we owe no fiduciary duties or liabilities to you or any other party, and that to the extent any such duties or liabilities may exist at Law or in equity, those duties and liabilities are hereby irrevocably disclaimed, waived, and eliminated. You further agree that the only duties and obligations that we owe you are those set out expressly in this Agreement.
− 10. Taxes. We encourage you to speak with your personal tax advisor regarding the tax implications of your participation in the Program and Services.
− 11. Jurisdiction. You acknowledge and agree that your access to and participation in the Program and Services constitutes entry into a contractual relationship with Vest Exchange Inc. in the Republic of Panama, and that, as between you and us, the Services are deemed to be offered and provided from within the Republic of Panama. Participation does not create a bilateral transaction between you and us for the purchase, sale, or exchange of any asset or an interest in a live trade. The Services are intended as virtual trading and discretionary submission of Trade Ideas and are not intended to constitute swaps, security-based swaps, or similar regulated instruments.
− 12. No Manipulation. You agree that you will not engage in any activity that seeks to manipulate the price or valuation of any digital asset or other instrument available in the Program. This includes, without limitation: (i) manipulating or attempting to manipulate on-chain or off-chain price feeds or oracles, (ii) exploiting known or unknown vulnerabilities in oracle mechanisms or data sources or (iii) coordinating with others to distort market prices or oracle inputs. The restrictions in Section 5 also apply to simulated Trade Ideas and attempts to induce or exploit our or our Affiliates’ actual or anticipated trading or Hedging Transactions.
− 13. Removal of Assets. WE MAY REMOVE A DIGITAL ASSET OR RELATED INSTRUMENT FROM THE PROGRAM AT ANY TIME, FOR ANY REASON AND WITHOUT PRIOR NOTICE. You acknowledge that while we are using commercially reasonable methods to provide virtual trading functionality to you through our Services, we do not guarantee that the Services will be consistently available. You agree that you assume all risks and potential losses associated with any digital asset being removed, price fluctuations or differences in actual versus indicated prices.
− 14. No Broker Services. You acknowledge and agree that we do not broker virtual trading orders on your behalf, negotiate terms for any virtual transaction, make investment recommendations, arrange financing, hold customer funds, process trade documentation or conduct independent asset valuations in connection with providing the Services. You are not a customer of any exchange, liquidity provider, or counterparty used by us. Any trading activity occurs exclusively between us (or our Affiliates or counterparty) and the market.
− 15. Fees. You may be subject to certain fees and commissions for participating in the Program, including for an Evaluation Process or access to an Instant Funded Account. Fees are not deposits, margin, or funds allocated to trading on your behalf. You agree to promptly pay such fees and commissions as set forth on the website or Program, which we may modify from time to time. Subject to the Refund Policy below, you agree that such fees are non-refundable once participation has commenced, regardless of performance or outcome.
− 16. Refund Policy. Notwithstanding the provisions in Section 6(o) (Fees) and Section 19 (Chargeback Policy and Prevention of Fraudulent Disputes), you may request a refund of fees paid to access the Program by submitting a written request to our support team within twenty-eight (28) days of the date of purchase, provided that you have not engaged with the Program or any Account, including placing any virtual trades, using an Instant Funded Account, or participating in the Evaluation Process.
− You agree that any use of the Program, including engaging in any trading-related activity, constitutes commencement of participation and renders all fees non-refundable.
− You further agree that any refund request must be submitted directly to us in accordance with this Section prior to initiating any chargeback. Initiating a chargeback without first complying with this Section may be treated as an unjustified dispute under Section 19 of this Agreement. We reserve the right to determine eligibility for refunds in our reasonable discretion and to deny any request that does not satisfy the foregoing conditions.
− 17. Non-Reliance. You acknowledge and agree that in entering into this Agreement and using the Services you have not relied and are not relying on any representations, warranties or other statements whatsoever, whether written or oral (from or by us or any person acting on our behalf and including any statements made on social media, Discord, or marketing materials) other than those expressly set out in this Agreement (or other related documents referred to herein) and that you do not have any right or remedy rising out of any representation, warranty or other statement not expressly set out in this Agreement.
+ (a) Virtual Trading and Signal Generation Platform. The Program is a virtual trading and signal generation platform that may include an Evaluation Process or provide Instant Funded Accounts without one. Users do not execute live trades and do not trade their own capital through the Program. Any live trading based on Trade Ideas is undertaken, if at all, solely by us or our Affiliates for our own accounts, through venues and counterparties we choose. Users provide inputs, strategies, or signals only. We retain full discretion over whether, how, and if any user-generated input is used in live trading activity. We do not act as your agent, broker, or intermediary and do not execute transactions on your behalf. A Trade Idea is an input to the simulation, not an instruction requiring a live transaction. The Program does not bring users together to purchase, sell, or exchange assets or financial contracts with one another.
+ (b) No Custody or Control. Users do not deposit funds for trading purposes. Any balances, metrics, or performance data displayed in the Program or any given Account, including an Instant Funded Account, are for evaluation, compensation calculation, or reference purposes only and do not represent ownership of assets or trading accounts. At no time does any user control a brokerage or exchange account, have authority to execute trades, or have custody of any funds used in trading. Any performance metrics, balances, or results displayed to you are notional, simulated, or programmatic in nature and do not correspond to any real account held for your benefit. References to account size, buying power, leverage, margin, positions, profits, or losses describe simulation parameters only, not capital, credit, assets, or financial positions provided to you. You do not owe simulated trading losses, negative balances, margin calls, or losses on our Hedging Transactions merely because you participate or submit Trade Ideas. This does not excuse disclosed service fees or liability for your breach of this Agreement. Simulated balances cannot be deposited, transferred, withdrawn, redeemed, or used to acquire assets; only compensation earned under Section 6(d) may become payable to you.
+ (c) Evaluation Process and Eligibility. We may require you to complete an Evaluation Process before accessing certain Program features. We may also, in our sole discretion, waive that process in whole or in part for any user or category of users, including all users, and permit immediate access to an Instant Funded Account without any evaluation. We are not obligated to waive the Evaluation Process, offer an Instant Funded Account to any user, or continue offering a waiver or an Instant Funded Account for future enrollments. A waiver for another user does not entitle you to a waiver. If an Evaluation Process applies to you, completion is not guaranteed, and activity in an Evaluation Account does not itself earn compensation. Any advancement remains subject to applicable identity, eligibility, and Program Rule compliance checks. Waiving the Evaluation Process does not waive identity or eligibility checks, risk limits, conduct restrictions, payout conditions, or any other applicable Program Rule.
+ (d) Compensation. Any compensation you may receive, if applicable, is determined solely in accordance with the Program Rules, including applicable payout conditions and the restrictions on Prohibited Uses. Eligibility for an Instant Funded Account does not guarantee any compensation. Compensation is for eligible Trade Ideas and simulated performance information you provide, subject to the disclosed performance, risk management, conduct, and other conditions in the applicable Program Rules. Simulated profit and loss may be an input to the disclosed formula, including a percentage calculation, but is not itself a withdrawable cash balance or an interest in any actual position. We will calculate and pay compensation earned under the applicable Program Rules within the disclosed payment timeframes, subject to verification and the permitted reviews and corrections in Sections 5, 6(r), and 8. Whether we use or hedge your Trade Ideas, and any actual gains or losses from doing so, do not determine your entitlement to compensation under those rules. Any payment is Program compensation and not a distribution of profits from a live trade made for your account; it does not confer any ownership interest in our trading activity. You acknowledge and agree that we may receive revenue, rebates, or other financial incentives from third parties in connection with trading activity, such revenue is retained solely by us, and you have no claim, right, or entitlement to any such amounts.
+ Compensation is paid from our general corporate funds, not from assets held for your benefit. Program fees form part of our general revenues and may be used to pay operating expenses, including Program compensation; we do not represent that payouts are funded by profitable live trading. We will not earmark user fees as a contest prize pool or make compensation depend on your ranking against other users or our receipt of fees from later participants. No portion of your fees is credited to an Account as real capital or a withdrawable balance.
+ (e) Conflicts of Interest. You acknowledge and agree that conflicts of interest may exist between you and us, including but not limited to the fact that we may benefit financially from third-party incentives associated with Trade Ideas submitted by you, such incentives are not reflected in any performance metrics or payouts applicable to you, and we may generate revenue from fees for access to the Program, including Instant Funded Accounts and any Evaluation Process. We also have a financial interest in the fees we retain and the compensation we pay, and we control the simulation settings and review of Program results. Subject to our express obligations under this Agreement and applicable Laws, we have no obligation to prioritize your interests over our own and may act in our own commercial interests. You further acknowledge that you have carefully considered these conflicts before participating in the Services and you consent to such conflicts and waive any claim arising from them. That consent does not authorize fraud, bad faith, undisclosed manipulation of simulated results, or failure to pay compensation otherwise due under the applicable Program Rules.
+ (f) No Employment or Agency Relationship. You are not our employee or agent, and nothing in this Agreement creates an employment, agency, partnership, or joint venture relationship. Your submission of Trade Ideas and simulated performance information, and any compensation for those activities, are governed by this Agreement. You have no authority to bind us, manage our assets, or trade on our behalf.
+ (g) Unsolicited. You agree and understand that all virtual trades you submit through the Program are considered unsolicited, which means that you have not received any investment advice from us in connection with any virtual trades, and that we do not conduct a suitability review of any virtual trades you submit. You acknowledge and agree that any payments, rewards, or compensation you may receive are based solely on our Program Rules and not derived from any ownership interest in, or entitlement to, profits generated by our trading activity. You further acknowledge that you have no expectation of profits derived from our efforts or those of any third party, and that your participation is limited to submitting Trade Ideas and complying with Program Rules.
+ (h) No Investment Advice. All information provided by the Program is for informational purposes only and should not be construed as investment advice. You should not take, or refrain from taking, any action based on any information contained in the Program. We do not make any investment recommendations to you or opine on the merits of any investment transaction or opportunity. You alone are responsible for determining whether any virtual investment, investment strategy or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance.
+ (i) No Fiduciary Duties. To the fullest extent permitted by Law, you acknowledge and agree that we owe no fiduciary duties or liabilities to you or any other party, and that to the extent any such duties or liabilities may exist at Law or in equity, those duties and liabilities are hereby irrevocably disclaimed, waived, and eliminated. You further agree that the only duties and obligations that we owe you are those set out expressly in this Agreement.
+ (j) Taxes. We encourage you to speak with your personal tax advisor regarding the tax implications of your participation in the Program and Services.
+ (k) Jurisdiction. You acknowledge and agree that your access to and participation in the Program and Services constitutes entry into a contractual relationship with Vest Exchange Inc. in the Republic of Panama, and that, as between you and us, the Services are deemed to be offered and provided from within the Republic of Panama. Participation does not create a bilateral transaction between you and us for the purchase, sale, or exchange of any asset or an interest in a live trade. The Services are intended as virtual trading and discretionary submission of Trade Ideas and are not intended to constitute swaps, security-based swaps, or similar regulated instruments.
+ (l) No Manipulation. You agree that you will not engage in any activity that seeks to manipulate the price or valuation of any digital asset or other instrument available in the Program. This includes, without limitation: (i) manipulating or attempting to manipulate on-chain or off-chain price feeds or oracles, (ii) exploiting known or unknown vulnerabilities in oracle mechanisms or data sources or (iii) coordinating with others to distort market prices or oracle inputs. The restrictions in Section 5 also apply to simulated Trade Ideas and attempts to induce or exploit our or our Affiliates’ actual or anticipated trading or Hedging Transactions.
+ (m) Removal of Assets. WE MAY REMOVE A DIGITAL ASSET OR RELATED INSTRUMENT FROM THE PROGRAM AT ANY TIME, FOR ANY REASON AND WITHOUT PRIOR NOTICE. You acknowledge that while we are using commercially reasonable methods to provide virtual trading functionality to you through our Services, we do not guarantee that the Services will be consistently available. You agree that you assume all risks and potential losses associated with any digital asset being removed, price fluctuations or differences in actual versus indicated prices.
+ (n) No Broker Services. You acknowledge and agree that we do not broker virtual trading orders on your behalf, negotiate terms for any virtual transaction, make investment recommendations, arrange financing, hold customer funds, process trade documentation or conduct independent asset valuations in connection with providing the Services. You are not a customer of any exchange, liquidity provider, or counterparty used by us. Any trading activity occurs exclusively between us (or our Affiliates or counterparty) and the market.
+ (o) Fees. You may be subject to certain fees for participating in the Program, including for an Evaluation Process or access to an Instant Funded Account. Fees pay for access to the applicable simulation, evaluation, analytics, or other Program services identified at purchase; they are not deposits, margin, loans to us, or funds allocated to trading on your behalf. The applicable service scope, fees, and any renewal, reset, or additional Account charges will be disclosed before you authorize the relevant purchase. Simulated commissions, funding charges, or other modeled trading costs are performance inputs under Section 8, not separately payable live trading commissions or a debt you owe. You agree to promptly pay such fees as set forth on the website or Program, which we may modify from time to time. Subject to the Refund Policy below, you agree that such fees are non-refundable once participation has commenced, regardless of performance or outcome.
+ (p) Refund Policy. Notwithstanding the provisions in Section 6(o) (Fees) and Section 19 (Chargeback Policy and Prevention of Fraudulent Disputes), you may request a refund of fees paid to access the Program by submitting a written request to our support team within twenty-eight (28) days of the date of purchase, provided that you have not commenced use of the Account or services covered by that purchase, including placing any virtual trades, using an Instant Funded Account, or participating in the Evaluation Process.
+ Use of the purchased Account or services, including placing virtual trades, constitutes commencement of participation and renders the associated fees non-refundable. Use of one Account does not, by itself, commence participation in another separately purchased Account.
+ Requests under this voluntary refund policy must be submitted directly to us. This policy does not limit any mandatory cancellation, refund, billing dispute, or chargeback rights under applicable Laws or applicable payment network rules. We reserve the right to determine eligibility for refunds in our reasonable discretion and to deny any request that does not satisfy the foregoing conditions.
+ (q) Non-Reliance. You acknowledge and agree that in entering into this Agreement and using the Services you have not relied and are not relying on any representations, warranties or other statements whatsoever, whether written or oral (from or by us or any person acting on our behalf and including any statements made on social media, Discord, or marketing materials) other than those expressly set out in this Agreement (or other related documents referred to herein) and that you do not have any right or remedy arising out of any representation, warranty or other statement not expressly set out in this Agreement.
+ (r) Program Rules; Changes and Review. Before you purchase an Account or otherwise enroll, we will make available the applicable Program Rules, including the service type and fees, applicable performance targets and loss or drawdown limits, prohibited strategies, compensation formula and eligibility conditions, any payout caps or minimum activity requirements, and verification and payment timeframes. You must review those rules. They form part of this Agreement but may not override its express good faith, notice, correction, or accrued compensation protections.
+ We may revise this Agreement or the Program Rules in our sole discretion, exercised in good faith. We will give reasonable advance notice of material changes through your registration profile or email before applying them to future activity. New or increased charges require advance disclosure and your authorization. We will not retroactively apply newly introduced conditions or simulation methods to otherwise valid completed activity, or use a later rule change to deny or reduce compensation earned under the rules in effect for that activity. Changes in model inputs under an already disclosed dynamic methodology are not, by themselves, rule changes. We may take immediate prospective action when reasonably necessary for legal compliance, security, fraud prevention, or material operational or market risks, with notice as soon as reasonably practicable where lawful.
+ We may temporarily withhold affected compensation while conducting a reasonable, good faith eligibility, error, or prohibited conduct review. We will conduct the review reasonably promptly, retain records supporting material adjustments, and provide a reasonably specific explanation of a material reduction, denial, or correction and an opportunity to request review at <>, except to the extent disclosure would violate Law or reasonably compromise security, fraud prevention, or proprietary methods. Suspension or termination does not, by itself, forfeit compensation already earned under the applicable Program Rules. Corrections and remedies for errors or Prohibited Uses remain subject to Sections 5 and 8. These protections apply notwithstanding any broader discretion, disclaimer, release, or limitation elsewhere in this Agreement.
+ (s) Personal, Non-Transferable Participation. Except as required by applicable Laws, Accounts, simulated balances, participation rights, and rights to Program compensation are personal to the registered user and may not be sold, assigned, pledged, tokenized, traded, or used as collateral. Compensation provisions may not be separated from the associated participation obligations or marketed as standalone financial interests. The Program does not provide a secondary market for those rights. You may not sell participation in your Accounts or operate them for undisclosed third parties. This does not prevent an Institutional User from acting through its disclosed Authorized Traders. Payments must be made to a bank account, wallet, or payment account held or lawfully controlled by the registered user and verified as we reasonably require.
6A. Hedging Activities
− We and our Affiliates may, but are not obligated to, evaluate, use, modify, aggregate, disregard, or act contrary to Trade Ideas and may enter into Hedging Transactions or other trades for our own accounts and at our own risk using our own capital, treasury assets, or balance sheet resources. We decide independently whether, when, how, in what size, and where to trade or hedge, including whether to place some or all such transactions on Vest Exchange, an affiliated trading venue. Such transactions may affect market prices or liquidity there or elsewhere. Our choice to trade or hedge does not give you any right to direct our activity or any ownership interest in a resulting position, and the restrictions in Section 5 apply to efforts to induce, exploit, or manipulate that activity.
+ We and our Affiliates may, but are not obligated to, evaluate, use, modify, aggregate, disregard, or act contrary to Trade Ideas and may enter into Hedging Transactions or other trades for our own accounts and at our own risk using our own capital, treasury assets, or balance sheet resources. We decide independently whether, when, how, in what size, and where to trade or hedge, including whether to place some or all such transactions on Vest Exchange, an affiliated trading venue. Such transactions may affect market prices or liquidity there or elsewhere. Our choice to trade or hedge does not give you any right to direct our activity or any ownership interest in a resulting position, and the restrictions in Section 5 apply to efforts to induce, exploit, or manipulate that activity. All actual gains and losses on those transactions are for our or our Affiliates’ own accounts. Program participation does not authorize you to control an account on Vest Exchange or any other venue or bypass its separate access requirements.
Such Hedging Transactions may include, without limitation:
− 1. entering into transactions involving digital assets or equities or derivatives referencing digital assets or equities on Vest Exchange, an affiliated trading venue, or on third-party trading venues or markets;
− 2. acquiring, selling, borrowing, lending, or otherwise transacting in digital assets or equities; or
− 3. other risk management activities designed to manage exposure associated with the Program or with trades that we choose to undertake based on Trade Ideas.
+ (a) entering into transactions involving digital assets or equities or derivatives referencing digital assets or equities on Vest Exchange, an affiliated trading venue, or on third-party trading venues or markets;
+ (b) acquiring, selling, borrowing, lending, or otherwise transacting in digital assets or equities; or
+ (c) other risk management activities designed to manage exposure associated with the Program or with trades that we choose to undertake based on Trade Ideas.
7. No Warranties
The website and Program is provided on an “AS IS” and “AS AVAILABLE” basis. To the maximum extent permitted by Law, we disclaim any representations and warranties of any kind, whether express, implied, or statutory, including (but not limited to) the warranties of merchantability and fitness for a particular purpose. To the maximum extent permitted by Law, you acknowledge and agree that your use of the website and Program is at your own risk; we do not represent or warrant that access to the website and Program will be continuous, uninterrupted, timely, or secure; that the information contained in the website or Program will be accurate, reliable, complete or current; or that the website or Program will be free from errors, defects, viruses, or other harmful elements. No advice, information, or statement that we make should be treated as creating any warranty concerning the website or Program. We do not endorse, guarantee, or assume responsibility for any advertisements, offers, or statements made by third parties concerning the website or Program.
− 8. Assumption of Risk
+ 8. Simulation Methodology and Assumption of Risk
The Program includes simulated trading environments and internal performance tracking systems. These systems may contain errors, delays, or inaccuracies and may not reflect real market conditions.
We make no representation that any simulated or internal results correspond to actual market outcomes or realizable trading performance.
+ Simulation Variables. We may, in our sole discretion and subject to the good faith requirements below, design, apply, and adjust simulated market facts, assumptions, and variables intended to model conditions and effects that may occur in real trading. These may include volatility, price gaps, spreads, favorable or unfavorable slippage, liquidity and market depth, order size and concentration, execution latency, sequencing and queue priority, partial fills, rejected or unfilled orders, trading interruptions, funding charges, commissions, and other hypothetical transaction costs. We may model temporary or lasting price impact and other downstream effects of your simulated activity, including the estimated effects of placing, aggregating, hedging, liquidating, or unwinding positions corresponding to Trade Ideas. These effects may influence later simulated prices, fills, available liquidity, performance, or risk calculations and may take account of related Accounts or aggregate activity.
+ Effect on Results. Simulation inputs may use market data, proprietary models, or actual execution data, but need not reproduce an available quote or an actual trade. A modeled effect may apply whether or not we execute or hedge any corresponding live transaction. It may cause results to differ from displayed reference prices or results on another Account or venue and may affect virtual balances, drawdowns, account status, evaluation outcomes, and compensation eligibility or amounts. Reference prices are not guaranteed fill prices, and simulations do not predict achievable live performance. Using actual execution or hedge data as a model input does not make you personally liable to reimburse our actual trading losses or costs or give you rights in our actual gains.
+ Good Faith Administration. We will exercise our simulation discretion in good faith for legitimate modeling, risk management, operational, or Program integrity purposes. We will not selectively worsen a user’s fills or results merely because the user is profitable, fabricate an error or violation, or manipulate settings or results in bad faith to cause failure or avoid paying compensation otherwise due. Different treatment based on relevant factors such as instrument, timing, size, liquidity, strategy, Account type, or identified abuse is permitted; identical outcomes across Accounts are not promised.
+ Corrections. We may correct or invalidate affected virtual trades or recalculate results to remedy identifiable material market data, pricing, processing, or calculation errors, duplicate or corrupted records, or Prohibited Uses, or to apply the methodology in effect for the activity correctly. Corrections must have a reasonable, documented basis and be applied consistently to materially comparable circumstances, whether they increase or decrease results. We will not retrospectively introduce a different methodology to reprice otherwise valid completed activity or reverse an otherwise valid result solely because we incurred a live trading loss.
9. Third-Party Resources and Promotions
The website may contain references or links to third-party resources, including (but not limited to) information, materials, products, or services, that we do not own or control. In addition, third parties may offer promotions related to your access and participation in the Program. We do not endorse or assume any responsibility for any such resources or promotions. If you access any such resources or participate in any such promotions, you do so at your own risk, and you understand that this Agreement does not apply to your dealings or relationships with any third parties. To the maximum extent permitted by Law, you relieve us of any and all liability arising from your use of any such resources or participation in any such promotions.
10. Release of Claims
To the maximum extent permitted by Law, you expressly agree that you assume all risks in connection with your access and use of the website and your participation in the Program. To the maximum extent permitted by Law, you further expressly waive and release us from any and all liability, claims, causes of action, or damages arising from or in any way relating to your use of the website and your participation in the Program.
11. Indemnity
− You agree to hold harmless, release, defend, and indemnify us and our officers, directors, employees, contractors, agents and Affiliates from and against all claims, damages, obligations, losses, liabilities, costs and expenses arising from: (a) your access and use of the website and your participation in the Program; (b) your violation of any term or condition of this Agreement, the right of any third party or any other applicable Law, rule or regulation or any inaccuracy in any representation made by you in this Agreement and (c) any other party’s access and use of the website or participation in the Program with your assistance or using any device or account that you own or control.
+ You agree to hold harmless, release, defend, and indemnify us and our officers, directors, employees, contractors, agents and Affiliates from and against all claims, damages, obligations, losses, liabilities, costs and expenses arising from: (a) your access and use of the website and your participation in the Program; (b) your violation of any term or condition of this Agreement, the right of any third party or any other applicable Law, rule or regulation or any inaccuracy in any representation made by you in this Agreement and (c) any other party’s access and use of the website or participation in the Program with your assistance or using any device or account that you own or control. This Section does not require you to reimburse ordinary simulated losses or losses on our proprietary trading or Hedging Transactions solely because you submit Trade Ideas, or to indemnify us for our fraud, willful misconduct, or bad faith.
In furtherance and not in limitation of the foregoing, you agree to promptly reimburse us for all costs and expenses that we may incur when responding to, defending and/or settling any actual or threatened claims made by any third party alleging facts that could reasonably give rise to indemnification by you under this Agreement.
12. Limitation of Liability
Without limiting the following, to the maximum extent permitted by Law, we will not be liable for any losses arising from the operational and infrastructure risks described in Section 8, including any resulting liquidations, pricing errors, or inability to access the Services.
Under no circumstances shall we or any of our officers, directors, employees, contractors, agents, or Affiliates be liable to you for any indirect, punitive, incidental, special, consequential, or exemplary damages, including (but not limited to) damages for loss of profits, goodwill, use, data, or other intangible property, arising out of or relating to any access or use of the website or participation in the Program, nor will we be responsible for any damage, loss, or injury resulting from hacking, tampering, or other unauthorized access or use of the website or Program or the information contained within it. We assume no liability or responsibility for any: (a) errors, mistakes, or inaccuracies of content; (b) personal injury or property damage, of any nature whatsoever, resulting from any access or use of the website or Program; (c) unauthorized access or use of any secure server or database in our control, or the use of any information or data stored therein; (d) interruption or cessation of function related to the website or the Program; (e) bugs, viruses, trojan horses, or the like that may be transmitted to or through the website or Program; (f) errors or omissions in, or loss or damage incurred as a result of the use of, any content made available through the website or Program; and (g) the defamatory, offensive, or illegal conduct of any third party.
− Under no circumstances shall we or any of our officers, directors, employees, contractors, agents, affiliates, or subsidiaries be liable to you for any claims, proceedings, liabilities, obligations, damages, losses, or costs in an amount exceeding the amount you paid to us in exchange for access to and use of the website or Program, or 100 Panamanian Balboa (PAB), whichever is greater. This limitation of liability applies regardless of whether the alleged liability is based on contract, tort, negligence, strict liability, or any other basis, and even if we have been advised of the possibility of such liability. Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of certain liabilities and damages. Accordingly, some of the disclaimers and limitations set forth in this Agreement may not apply to you. This limitation of liability shall apply to the maximum extent permitted by Law.
+ Under no circumstances shall we or any of our officers, directors, employees, contractors, agents, affiliates, or subsidiaries be liable to you for any claims, proceedings, liabilities, obligations, damages, losses, or costs in an amount exceeding the amount you paid to us in exchange for access to and use of the website or Program, or 100 Panamanian Balboa (PAB), whichever is greater. This limitation of liability applies regardless of whether the alleged liability is based on contract, tort, negligence, strict liability, or any other basis, and even if we have been advised of the possibility of such liability. Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of certain liabilities and damages. Accordingly, some of the disclaimers and limitations set forth in this Agreement may not apply to you. This limitation of liability shall apply to the maximum extent permitted by Law. The foregoing limitations do not reduce our obligation to pay earned, unpaid Program compensation under Section 6(d), subject to permitted reviews and corrections, and do not apply to our fraud, willful misconduct, or bad faith.
13. Resolution of Disputes
We will use our best efforts to resolve any potential disputes through informal, good faith negotiations. If a potential dispute arises, you must contact us by sending an email to <> so that we can attempt to resolve it without resorting to formal dispute resolution. If we aren’t able to reach an informal resolution within ninety days of your email, then you and we both agree to resolve the potential dispute according to the process set forth below.
All disputes arising out of or in connection with this Agreement, or any other acts or omissions for which you may contend that we are liable, including (but not limited to) any claim or controversy as to arbitrability, shall be finally settled by arbitration administered by the Panama Conciliation and Arbitration Centre in accordance with its procedural rules. You understand that you are required to resolve all disputes by final arbitration. The arbitration shall occur in English and will be held in the Republic of Panama, unless you and we both agree to hold it elsewhere. Unless we agree otherwise, the arbitrator may not consolidate your claims with those of any other party.
14. Class Action and Jury Trial Waiver
You must bring any and all disputes against us in your individual capacity and not as a plaintiff in or member of any purported class action, collective action, private attorney general action or other representative proceeding. This provision applies to class arbitration. You and we both agree to waive the right to demand a trial by jury.
15. Governing Law
You agree that the laws of the Republic of Panama, without regard to principles of conflict of laws, govern this Agreement and any dispute between you and us. You further agree that the Program shall be deemed to be based solely in the Republic of Panama, and that although the website or Program may be available in other jurisdictions, its availability does not give rise to general or specific personal jurisdiction in any forum outside the Republic of Panama.
16. Language and Contact Details; Feedback
The Agreement and any information or notifications that you or we are to provide shall be in English. If you have any questions relating to these Agreement, your rights and obligations arising from this Agreement and/or your use of the website or Program or any other matter, please contact <>.
If you choose to provide us with input or suggestions regarding problems with or proposed modifications or improvements to the website, Program and/or Services (“Feedback”), then you grant to us a non-exclusive, royalty-free, perpetual, irrevocable, transferable, sublicensable and global right to use and exploit the Feedback in any manner and for any purpose without any restriction, credit, attribution or fees due to you.
You acknowledge and agree that any Trade Ideas are non-binding suggestions only. We retain sole and absolute discretion to determine whether and how to utilize any Trade Idea. Without limitation, we may:
− 1. record a Trade Idea internally and simulate or calculate a hypothetical outcome without executing any transaction; or
− 2. execute, modify, or hedge a transaction based on a Trade Idea using our own capital on Vest Exchange, an affiliated trading venue, or through one or more third-party trading venues or counterparties, including exchanges or market makers.
+ (a) record a Trade Idea internally and simulate or calculate a hypothetical outcome without executing any transaction; or
+ (b) execute, modify, or hedge a transaction based on a Trade Idea using our own capital on Vest Exchange, an affiliated trading venue, or through one or more third-party trading venues or counterparties, including exchanges or market makers.
You acknowledge and agree that you have no right to require us to execute any Trade Idea, you have no control over execution, routing, counterparties, or timing; and you may not have visibility into whether or how any Trade Idea is utilized.
17. Privacy
All information we collect on this website and Services is subject to our Privacy Policy. By using the website and/or Services, you consent to all actions taken by us with respect to your information in compliance with our Privacy Policy.
Our Privacy Policy is a part of this Agreement. Please review our Privacy Policy, which also governs the website and Program and informs users of our data collection practices.
− Please note that it is our policy to comply with all facially valid subpoenas, court orders or binding orders issued to us by law enforcement agencies and other Government Officials. This may affect your access to the website and Services, your funds and our services to you. We are not responsible for any losses, whether direct or indirect, that you may incur as a result of our compliance with applicable Law, the guidance or direction of any regulatory authority or Government Official, or any writ of attachment, lien, levy, subpoena, warrant or other legal order.
+ Please note that it is our policy to comply with all facially valid subpoenas, court orders or binding orders issued to us by law enforcement agencies and other Government Officials. This may affect your access to the website and Services, any compensation payable to you and our services to you. We are not responsible for any losses, whether direct or indirect, that you may incur as a result of our compliance with applicable Law, the guidance or direction of any regulatory authority or Government Official, or any writ of attachment, lien, levy, subpoena, warrant or other legal order.
In order to provide certain features of the Services, we may use Plaid Inc. (“Plaid”), a third-party service provider, to enable you to connect your bank account or other financial accounts.
By using our Services, you acknowledge and agree that you are providing your information to Plaid and that Plaid may collect, use, and store your information in accordance with its privacy policy.
You expressly authorize Plaid to access and process your financial information on your behalf, including account and transaction data, as necessary to provide the Services.
Your use of Plaid is subject to Plaid’s Privacy Policy, available at: <https://plaid.com/legal/#privacy-policy>
You acknowledge and agree that we are not responsible for Plaid’s data practices, and that Plaid’s collection and use of your information is governed solely by its own policies.
18. Notice for California Users
Under California Civil Code Section 1789.3, California website users are entitled to the following specific consumer rights notice: The Complaint Assistance Unit of the Division of Consumer Services of the California Department of Consumer Affairs may be contacted in writing at 400 R Street, Suite 1080, Sacramento, California 95814, or by telephone at (916) 445-1254 or (800) 952-5210.
19. Chargeback Policy and Prevention of Fraudulent Disputes
By purchasing or obtaining access to the Program, including an Evaluation Process or an Instant Funded Account, you acknowledge and agree to the following terms in this Section 19. These terms are designed to protect both you and us from fraudulent disputes and to ensure fair and transparent operations.
− Initiating a chargeback without legitimate cause, particularly after having accessed, utilized, and demonstrably benefited from our Services, may constitute fraudulent or abusive conduct. Legitimate causes for a chargeback are limited to instances of actual unauthorized transactions where your payment details were stolen or used fraudulently, or in rare cases where there was a demonstrable non-delivery of the service as described and agreed upon, and you have exhausted all reasonable attempts to resolve the issue directly with us.
− Claims such as “transaction unauthorized” or “service not as described” made after you have demonstrably engaged with and benefited from our Services, including but not limited to accessing your Account, placing virtual trades, participating in an evaluation (whether passed or not), receiving an Instant Funded Account, or processing payouts, will be vigorously disputed by us.
− In the event of a chargeback initiated without legitimate cause, we reserve the right to:
− 3. Vigorously dispute the chargeback with the relevant financial institution, providing all evidence of service delivery, user engagement, and adherence to this Agreement.
− 4. Suspend or terminate your access to the Program and all associated services, including any Accounts, virtually funded accounts, or pending payouts, immediately and without prior notice.
− 5. Pursue legal action against you for damages incurred as a result of the fraudulent chargeback, including but not limited to, the original transaction amount, chargeback fees, administrative costs, legal fees, and any other associated losses or expenses sustained by us.
− 6. Report the fraudulent activity to relevant credit bureaus, financial institutions, and law enforcement agencies, which may negatively impact your credit rating and financial standing.
− Prior to initiating any chargeback, you are obligated to first contact our customer support to attempt to resolve any issues or concerns you may have regarding the Service. We are committed to addressing legitimate concerns promptly and fairly. Failure to exhaust reasonable attempts to resolve an issue directly with us before initiating a chargeback may be considered evidence of an unjustified dispute.
+ Initiating a chargeback that you know is false or lacks a legitimate basis may constitute fraudulent or abusive conduct. We may dispute a chargeback in good faith using accurate evidence of the transaction and services provided. Your use of the Services does not, by itself, establish that a chargeback is fraudulent or eliminate any legitimate billing dispute or other rights under applicable Laws or applicable payment network rules.
+ Claims such as “transaction unauthorized” or “service not as described” made after you have demonstrably engaged with and benefited from our Services, including but not limited to accessing your Account, placing virtual trades, participating in an evaluation (whether passed or not), receiving an Instant Funded Account, or processing payouts, may be disputed by us where we reasonably believe the claim is inaccurate. We will not treat a good faith exercise of legally protected dispute rights as a Prohibited Use.
+ If we reasonably determine that a chargeback was knowingly false, fraudulent, or otherwise abusive, we reserve the right, subject to applicable Laws, to:
+ (a) Vigorously dispute the chargeback with the relevant financial institution, providing all evidence of service delivery, user engagement, and adherence to this Agreement.
+ (b) Suspend or terminate your access to the Program and associated Accounts or services in accordance with this Agreement. Any withholding or forfeiture of compensation remains subject to Sections 5 and 6(r).
+ (c) Pursue legal action against you for damages incurred as a result of the fraudulent chargeback, including but not limited to, the original transaction amount, chargeback fees, administrative costs, legal fees, and any other associated losses or expenses sustained by us.
+ (d) Report substantiated fraudulent activity to the relevant financial institution or law enforcement authority to the extent permitted by applicable Laws. We will not threaten adverse credit reporting merely because you raise a good faith dispute.
+ We encourage you to contact our customer support to attempt to resolve concerns before initiating a chargeback, but you are not required to do so where applicable Laws or payment network rules provide otherwise, and you need not delay a dispute or miss an applicable deadline. We are committed to addressing legitimate concerns promptly and fairly. Nothing in this Section prohibits a good faith complaint to a regulator or waives mandatory consumer rights.
20. Entire Agreement
− This Agreement (including the Privacy Policy) constitute the entire agreement between you and us with respect to the subject matter hereof. This Agreement supersedes any and all prior or contemporaneous written and oral agreements, communications and other understandings (if any) relating to the subject matter of this Agreement.
+ This Agreement (including the Privacy Policy and applicable Program Rules) constitutes the entire agreement between you and us with respect to the subject matter hereof. This Agreement supersedes any and all prior or contemporaneous written and oral agreements, communications and other understandings (if any) relating to the subject matter of this Agreement.
No waiver of by us of any term or condition set out in this Agreement will be deemed a further or continuing waiver of such term or condition or a waiver of any other term or condition, and any failure of us to assert a right or provision under this Agreement will not constitute a waiver of such right or provision.
If any provision of this Agreement is held by a court or other tribunal of competent jurisdiction to be invalid, illegal or unenforceable for any reason, such provision will be eliminated or limited to the minimum extent such that the remaining provisions of this Agreement will continue in full force and effect.
PremierVest Markets · Exchange NoticesNew page published.Oct 14
PremierVest Markets · Cross Margin & LeverageFunded Account maximum leverage increased for BTC-PERP from 15x to 25x and SOL-PERP from 5x to 10x.Oct 14
▸ View exact changes
The change in place, line by line
Before
Choose ES or NQ, then switch the Amount field from USDC to the market unit and enter the Vest quantity from the table. When Amount is set to USDC, it represents position notional, not the margin you are posting. Notional = quantity × price; estimated initial margin = notional ÷ leverage. Check the order preview for the resulting size, margin, fees, and estimated Fail Price where applicable.
Example: the exposure of 1 MES
At a hypothetical ES price of 6,000, enter 5 ES units for the price exposure of 1 MES. The position notional is 5 × 6,000 = 30,000 USDC. At 10x leverage, estimated initial margin is 3,000 USDC before fees. A 10-point rise produces 50 USDC of gross profit on a long position; a 10-point fall produces a 50 USDC loss. A short position has the opposite result.
Changing leverage changes the margin required for these 5 units, not their 5 USDC-per-point exposure. To estimate price risk, multiply quantity by the distance to your stop: 5 units × 20 points = 100 USDC before fees, funding, and slippage. A stop does not guarantee its execution price, and account loss limits apply to total equity across all open positions.
Leverage
Leverage is set per market and displayed on that market's trading page.
- Primary Accounts — up to 100x, market-dependent
- Funded Accounts — up to 50x, market-dependent
Markets with lower liquidity or higher volatility typically cap leverage lower than highly liquid markets like BTC or major equity indices.
Maximum Leverage by Market
Primary (direct) and Funded Account maximum leverage is listed below. “Unavailable” means the market cannot be traded on Funded Accounts.
−
| Asset class | Market | Primary max. | Funded max. |
|---|---|---|---|
| CRYPTO | BTC-PERP | 50x | 15x |
| CRYPTO | ETH-PERP | 50x | 15x |
−
| Asset class | Market | Primary max. | Funded max. |
|---|---|---|---|
| CRYPTO | SOL-PERP | 20x | 5x |
| CRYPTO | XRP-PERP | 10x | Unavailable |
| ENERGY | CL-PERP | 10x | 10x |
After
Choose ES or NQ, then switch the Amount field from USDC to the market unit and enter the Vest quantity from the table. When Amount is set to USDC, it represents position notional, not the margin you are posting. Notional = quantity × price; estimated initial margin = notional ÷ leverage. Check the order preview for the resulting size, margin, fees, and estimated Fail Price where applicable.
Example: the exposure of 1 MES
At a hypothetical ES price of 6,000, enter 5 ES units for the price exposure of 1 MES. The position notional is 5 × 6,000 = 30,000 USDC. At 10x leverage, estimated initial margin is 3,000 USDC before fees. A 10-point rise produces 50 USDC of gross profit on a long position; a 10-point fall produces a 50 USDC loss. A short position has the opposite result.
Changing leverage changes the margin required for these 5 units, not their 5 USDC-per-point exposure. To estimate price risk, multiply quantity by the distance to your stop: 5 units × 20 points = 100 USDC before fees, funding, and slippage. A stop does not guarantee its execution price, and account loss limits apply to total equity across all open positions.
Leverage
Leverage is set per market and displayed on that market's trading page.
- Primary Accounts — up to 100x, market-dependent
- Funded Accounts — up to 50x, market-dependent
Markets with lower liquidity or higher volatility typically cap leverage lower than highly liquid markets like BTC or major equity indices.
Maximum Leverage by Market
Primary (direct) and Funded Account maximum leverage is listed below. “Unavailable” means the market cannot be traded on Funded Accounts.
+
| Asset class | Market | Primary max. | Funded max. |
|---|---|---|---|
| CRYPTO | BTC-PERP | 50x | 25x |
| CRYPTO | ETH-PERP | 50x | 15x |
+
| Asset class | Market | Primary max. | Funded max. |
|---|---|---|---|
| CRYPTO | SOL-PERP | 20x | 10x |
| CRYPTO | XRP-PERP | 10x | Unavailable |
| ENERGY | CL-PERP | 10x | 10x |
Choose ES or NQ, then switch the Amount field from USDC to the market unit and enter the Vest quantity from the table. When Amount is set to USDC, it represents position notional, not the margin you are posting. Notional = quantity × price; estimated initial margin = notional ÷ leverage. Check the order preview for the resulting size, margin, fees, and estimated Fail Price where applicable.
Example: the exposure of 1 MES
At a hypothetical ES price of 6,000, enter 5 ES units for the price exposure of 1 MES. The position notional is 5 × 6,000 = 30,000 USDC. At 10x leverage, estimated initial margin is 3,000 USDC before fees. A 10-point rise produces 50 USDC of gross profit on a long position; a 10-point fall produces a 50 USDC loss. A short position has the opposite result.
Changing leverage changes the margin required for these 5 units, not their 5 USDC-per-point exposure. To estimate price risk, multiply quantity by the distance to your stop: 5 units × 20 points = 100 USDC before fees, funding, and slippage. A stop does not guarantee its execution price, and account loss limits apply to total equity across all open positions.
Leverage
Leverage is set per market and displayed on that market's trading page.
- Primary Accounts — up to 100x, market-dependent
- Funded Accounts — up to 50x, market-dependent
Markets with lower liquidity or higher volatility typically cap leverage lower than highly liquid markets like BTC or major equity indices.
Maximum Leverage by Market
Primary (direct) and Funded Account maximum leverage is listed below. “Unavailable” means the market cannot be traded on Funded Accounts.
−
| Asset class | Market | Primary max. | Funded max. |
|---|---|---|---|
| CRYPTO | BTC-PERP | 50x | 15x |
+
| Asset class | Market | Primary max. | Funded max. |
|---|---|---|---|
| CRYPTO | BTC-PERP | 50x | 25x |
| CRYPTO | ETH-PERP | 50x | 15x |
−
| Asset class | Market | Primary max. | Funded max. |
|---|---|---|---|
| CRYPTO | SOL-PERP | 20x | 5x |
+
| Asset class | Market | Primary max. | Funded max. |
|---|---|---|---|
| CRYPTO | SOL-PERP | 20x | 10x |
| CRYPTO | XRP-PERP | 10x | Unavailable |
| ENERGY | CL-PERP | 10x | 10x |
PremierVest Markets · Perpetual Contract SpecificationsYM-PERP (E-mini Dow Jones) perpetual contract added with five contract codes and ±25 bps price limits.Oct 13
▸ View exact changes
The change in place, line by line
Before
| Jan 1, 2026 | NQH6 |
|---|
RTY-PERP (E-mini Russell 2000)
| Effective Date | Contract Code |
|---|
| Sep 15, 2026 | RTYZ6 |
Energy
CL-PERP (Crude Oil)
| Effective Date | Contract Code |
|---|
Basis limits restrict how far a perpetual contract’s trading price can deviate from its Index Price. They function similarly to limit-up and limit-down rules, with upper and lower price boundaries defined relative to the Index Price.
The basis is the difference between the perpetual contract price and the Index Price, expressed in basis points:
Basis (bps) = ((Perpetual Price − Index Price) / Index Price) × 10,000
A positive basis means the perpetual is trading above the Index Price; a negative basis means it is trading below.
Each market has a specified basis limit. Trades cannot execute above the upper boundary or below the lower boundary. Trading within the permitted band can continue.
Basis limits help prevent excessive price dislocations during volatile or low-liquidity conditions.
Current Basis Limits
Basis limits currently apply to the following market:
| Market | Limits |
|---|
| ES-PERP | ±25 bps (±0.25%) |
| BTC-PERP | ±50 bps (±0.50%) |
After
| Jan 1, 2026 | NQH6 |
|---|
RTY-PERP (E-mini Russell 2000)
| Effective Date | Contract Code |
|---|
| Sep 15, 2026 | RTYZ6 |
+ YM-PERP (E-mini Dow Jones)
+
Jan 1, 2026 YMH6 Mar 17, 2026 YMM6 Jun 16, 2026 YMU6 Sep 15, 2026 YMZ6 Dec 15, 2026 YMH7
| Effective Date | Contract Code |
|---|
Energy
CL-PERP (Crude Oil)
| Effective Date | Contract Code |
|---|
Basis limits restrict how far a perpetual contract’s trading price can deviate from its Index Price. They function similarly to limit-up and limit-down rules, with upper and lower price boundaries defined relative to the Index Price.
The basis is the difference between the perpetual contract price and the Index Price, expressed in basis points:
Basis (bps) = ((Perpetual Price − Index Price) / Index Price) × 10,000
A positive basis means the perpetual is trading above the Index Price; a negative basis means it is trading below.
Each market has a specified basis limit. Trades cannot execute above the upper boundary or below the lower boundary. Trading within the permitted band can continue.
Basis limits help prevent excessive price dislocations during volatile or low-liquidity conditions.
Current Basis Limits
Basis limits currently apply to the following market:
| Market | Limits |
|---|
| ES-PERP | ±25 bps (±0.25%) |
+
| YM-PERP | ±25 bps (±0.25%) |
|---|
| BTC-PERP | ±50 bps (±0.50%) |
| Jan 1, 2026 | NQH6 |
|---|
RTY-PERP (E-mini Russell 2000)
| Effective Date | Contract Code |
|---|
| Sep 15, 2026 | RTYZ6 |
+ YM-PERP (E-mini Dow Jones)
+
Jan 1, 2026 YMH6 Mar 17, 2026 YMM6 Jun 16, 2026 YMU6 Sep 15, 2026 YMZ6 Dec 15, 2026 YMH7
| Effective Date | Contract Code |
|---|
Energy
CL-PERP (Crude Oil)
| Effective Date | Contract Code |
|---|
Basis limits restrict how far a perpetual contract’s trading price can deviate from its Index Price. They function similarly to limit-up and limit-down rules, with upper and lower price boundaries defined relative to the Index Price.
The basis is the difference between the perpetual contract price and the Index Price, expressed in basis points:
Basis (bps) = ((Perpetual Price − Index Price) / Index Price) × 10,000
A positive basis means the perpetual is trading above the Index Price; a negative basis means it is trading below.
Each market has a specified basis limit. Trades cannot execute above the upper boundary or below the lower boundary. Trading within the permitted band can continue.
Basis limits help prevent excessive price dislocations during volatile or low-liquidity conditions.
Current Basis Limits
Basis limits currently apply to the following market:
| Market | Limits |
|---|
| ES-PERP | ±25 bps (±0.25%) |
+
| Market | Limits |
|---|---|
| YM-PERP | ±25 bps (±0.25%) |
| BTC-PERP | ±50 bps (±0.50%) |
PremierVest Markets · Cross Margin & LeverageYM-PERP leverage entry added at 50x, and GC-PERP and HG-PERP leverage reduced from 25x to 5x.Oct 13
▸ View exact changes
The change in place, line by line
Before
| FX | AUD-USD-PERP | 100x | 5x |
|---|
| INDEX | RTY-PERP | 50x | 50x |
| METAL | GC-PERP | 25x | 5x |
| METAL | PL-PERP | 25x | 5x |
BTC and ETH have a 15x maximum on Funded Accounts. ES has a 75x maximum on both Primary and Funded Accounts. NQ and RTY have a 50x maximum on both Primary and Funded Accounts. HYPE and XRP are unavailable to trade on Funded Accounts.
Changing your leverage
Leverage is set per market from the trading view.
1. Open the market you want to trade.
2. Click the leverage indicator near the top of the order form (shows your current multiplier, e.g. "5x").
3. Use the slider or preset buttons to choose a new leverage level, up to that market's maximum.
4. Confirm the change.
The order-form leverage setting controls sizing for new orders. Effective portfolio leverage is a separate measure: total notional exposure divided by current portfolio equity.
After
| FX | AUD-USD-PERP | 100x | 5x |
|---|
| INDEX | RTY-PERP | 50x | 50x |
+
| INDEX | YM-PERP | 50x | 50x |
|---|
| METAL | GC-PERP | 25x | 5x |
| METAL | PL-PERP | 25x | 5x |
BTC and ETH have a 15x maximum on Funded Accounts. ES has a 75x maximum on both Primary and Funded Accounts. NQ and RTY have a 50x maximum on both Primary and Funded Accounts. HYPE and XRP are unavailable to trade on Funded Accounts.
Changing your leverage
Leverage is set per market from the trading view.
1. Open the market you want to trade.
2. Click the leverage indicator near the top of the order form (shows your current multiplier, e.g. "5x").
3. Use the slider or preset buttons to choose a new leverage level, up to that market's maximum.
4. Confirm the change.
The order-form leverage setting controls sizing for new orders. Effective portfolio leverage is a separate measure: total notional exposure divided by current portfolio equity.
| FX | AUD-USD-PERP | 100x | 5x |
|---|
| INDEX | RTY-PERP | 50x | 50x |
+
| FX | AUD-USD-PERP | 100x | 5x |
|---|---|---|---|
| INDEX | YM-PERP | 50x | 50x |
| METAL | GC-PERP | 25x | 5x |
| METAL | PL-PERP | 25x | 5x |
BTC and ETH have a 15x maximum on Funded Accounts. ES has a 75x maximum on both Primary and Funded Accounts. NQ and RTY have a 50x maximum on both Primary and Funded Accounts. HYPE and XRP are unavailable to trade on Funded Accounts.
Changing your leverage
Leverage is set per market from the trading view.
1. Open the market you want to trade.
2. Click the leverage indicator near the top of the order form (shows your current multiplier, e.g. "5x").
3. Use the slider or preset buttons to choose a new leverage level, up to that market's maximum.
4. Confirm the change.
The order-form leverage setting controls sizing for new orders. Effective portfolio leverage is a separate measure: total notional exposure divided by current portfolio equity.
PremierVest Markets · MarketsYM added to indices with 0.0025% taker fee; ES, NQ, RTY description changed from specific listing to "Indices and commodities.Oct 13
▸ View exact changes
What the page said before and after
Before
Every market on Vest trades on cross margin with USDC as collateral, settles instantly, and uses mark price for liquidations. What differs by asset class is the underlying being tracked and the trading schedule.
|
Indices | Major indices as perpetual futures. Trade broad market moves like the S&P 500 (ES) and Nasdaq 100 (NQ).
Stocks | Hundreds of NYSE and NASDAQ listed stocks. Trade the same tickers you'd find on traditional exchanges without holding the underlying.
Crypto | Major tokens and altcoins. BTC, ETH, and a growing list of pairs.
Commodities | Metals, energy, and agricultural commodities as perpetuals. Gold, silver, oil, and more.
| Forex | Major and minor currency pairs. |
|---|
Trading Hours
Markets follow schedules tied to their underlying.
| Asset Class | Schedule |
|---|
| Crypto | Trades continuously, including through weekends |
Single stocks | Regular, Pre-Market, Extended, and Overnight sessions Monday–Friday. Locked from Friday 8:00 PM ET to Sunday 8:00 PM ET
− Index & Commodity Futures | ES, NQ, RTY and commodities remain tradable through 5:00–6:00 PM ET CME maintenance. Locked from Friday 5:00 PM ET to Sunday 6:00 PM ET.
| FX | Regular Hours Monday–Friday. Locked over the weekend. |
|---|
Positions held into a weekend lock remain open. They cannot be adjusted, added to, or closed until the market resumes.
Leverage
Leverage is set per market and displayed on each market’s page. See Cross Margin & Leverage for the full table of Primary and Funded Account caps.
- Primary Accounts — up to 100x, market-dependent
- Funded Accounts — up to 50x, market-dependent
Higher exposure relative to account equity magnifies gains and losses relative to that equity. Changing leverage alone does not change dollar PnL for an unchanged position size. See Cross Margin & Leverage for details.
Fees
Maker fees are always 0 bps (0%) across all markets and trading sessions. Taker fees vary by market.
− ES, NQ and RTY carry a flat taker fee of 0.0025% (0.25 bps), in every session.
A flat taker fee of 0.01% (1 bp) applies across all other markets, in every session. The same maker and taker rates apply to API transactions.
Finding Markets
Use the Markets tab in the platform to browse the full list, search by ticker or name, or filter by asset class. Add markets to your Watchlist for quick access from the trading view.
To browse live, visit next.vestmarkets.com/markets.
Restrictions on Funded Accounts
Vest Capital restrictions: XRP and HYPE are not available on Evaluation Accounts or Live Funded Accounts. API trading is not available on any Funded Account. All other listed markets trade normally.
After
Every market on Vest trades on cross margin with USDC as collateral, settles instantly, and uses mark price for liquidations. What differs by asset class is the underlying being tracked and the trading schedule.
|
Indices | Major indices as perpetual futures. Trade broad market moves like the S&P 500 (ES) and Nasdaq 100 (NQ).
Stocks | Hundreds of NYSE and NASDAQ listed stocks. Trade the same tickers you'd find on traditional exchanges without holding the underlying.
Crypto | Major tokens and altcoins. BTC, ETH, and a growing list of pairs.
Commodities | Metals, energy, and agricultural commodities as perpetuals. Gold, silver, oil, and more.
| Forex | Major and minor currency pairs. |
|---|
Trading Hours
Markets follow schedules tied to their underlying.
| Asset Class | Schedule |
|---|
| Crypto | Trades continuously, including through weekends |
Single stocks | Regular, Pre-Market, Extended, and Overnight sessions Monday–Friday. Locked from Friday 8:00 PM ET to Sunday 8:00 PM ET
+ Index & Commodity Futures | Indices and commodities remain tradable through 5:00–6:00 PM ET CME maintenance. Locked from Friday 5:00 PM ET to Sunday 6:00 PM ET.
| FX | Regular Hours Monday–Friday. Locked over the weekend. |
|---|
Positions held into a weekend lock remain open. They cannot be adjusted, added to, or closed until the market resumes.
Leverage
Leverage is set per market and displayed on each market’s page. See Cross Margin & Leverage for the full table of Primary and Funded Account caps.
- Primary Accounts — up to 100x, market-dependent
- Funded Accounts — up to 50x, market-dependent
Higher exposure relative to account equity magnifies gains and losses relative to that equity. Changing leverage alone does not change dollar PnL for an unchanged position size. See Cross Margin & Leverage for details.
Fees
Maker fees are always 0 bps (0%) across all markets and trading sessions. Taker fees vary by market.
+ ES, NQ, RTY, and YM carry a flat taker fee of 0.0025% (0.25 bps), in every session.
A flat taker fee of 0.01% (1 bp) applies across all other markets, in every session. The same maker and taker rates apply to API transactions.
Finding Markets
Use the Markets tab in the platform to browse the full list, search by ticker or name, or filter by asset class. Add markets to your Watchlist for quick access from the trading view.
To browse live, visit next.vestmarkets.com/markets.
Restrictions on Funded Accounts
Vest Capital restrictions: XRP and HYPE are not available on Evaluation Accounts or Live Funded Accounts. API trading is not available on any Funded Account. All other listed markets trade normally.
Every market on Vest trades on cross margin with USDC as collateral, settles instantly, and uses mark price for liquidations. What differs by asset class is the underlying being tracked and the trading schedule.
|
Indices | Major indices as perpetual futures. Trade broad market moves like the S&P 500 (ES) and Nasdaq 100 (NQ).
Stocks | Hundreds of NYSE and NASDAQ listed stocks. Trade the same tickers you'd find on traditional exchanges without holding the underlying.
Crypto | Major tokens and altcoins. BTC, ETH, and a growing list of pairs.
Commodities | Metals, energy, and agricultural commodities as perpetuals. Gold, silver, oil, and more.
| Forex | Major and minor currency pairs. |
|---|
Trading Hours
Markets follow schedules tied to their underlying.
| Asset Class | Schedule |
|---|
| Crypto | Trades continuously, including through weekends |
Single stocks | Regular, Pre-Market, Extended, and Overnight sessions Monday–Friday. Locked from Friday 8:00 PM ET to Sunday 8:00 PM ET
− Index & Commodity Futures | ES, NQ, RTY and commodities remain tradable through 5:00–6:00 PM ET CME maintenance. Locked from Friday 5:00 PM ET to Sunday 6:00 PM ET.
+ Index & Commodity Futures | Indices and commodities remain tradable through 5:00–6:00 PM ET CME maintenance. Locked from Friday 5:00 PM ET to Sunday 6:00 PM ET.
| FX | Regular Hours Monday–Friday. Locked over the weekend. |
|---|
Positions held into a weekend lock remain open. They cannot be adjusted, added to, or closed until the market resumes.
Leverage
Leverage is set per market and displayed on each market’s page. See Cross Margin & Leverage for the full table of Primary and Funded Account caps.
- Primary Accounts — up to 100x, market-dependent
- Funded Accounts — up to 50x, market-dependent
Higher exposure relative to account equity magnifies gains and losses relative to that equity. Changing leverage alone does not change dollar PnL for an unchanged position size. See Cross Margin & Leverage for details.
Fees
Maker fees are always 0 bps (0%) across all markets and trading sessions. Taker fees vary by market.
− ES, NQ and RTY carry a flat taker fee of 0.0025% (0.25 bps), in every session.
+ ES, NQ, RTY, and YM carry a flat taker fee of 0.0025% (0.25 bps), in every session.
A flat taker fee of 0.01% (1 bp) applies across all other markets, in every session. The same maker and taker rates apply to API transactions.
Finding Markets
Use the Markets tab in the platform to browse the full list, search by ticker or name, or filter by asset class. Add markets to your Watchlist for quick access from the trading view.
To browse live, visit next.vestmarkets.com/markets.
Restrictions on Funded Accounts
Vest Capital restrictions: XRP and HYPE are not available on Evaluation Accounts or Live Funded Accounts. API trading is not available on any Funded Account. All other listed markets trade normally.
