cTrader EULA

END-USER LICENSE AGREEMENT FOR CTRADER

IMPORTANT, PLEASE READ THE TERMS AND CONDITIONS OF THIS LICENSE AGREEMENT CAREFULLY BEFORE CONTINUING WITH THE INSTALLATION OF THIS SOFTWARE PROGRAM

The cTrader End-User License Agreement (“EULA”) is a legally binding agreement between you (either an individual or a single entity) and Spotware Systems Ltd. for the Spotware Systems Ltd software product(s) identified above which may include associated software components, media, printed materials, and “online” or electronic documentation (“Spotware”). By installing, copying, or otherwise using Spotware Systems products, you agree to be bound by the terms of this EULA. This license agreement represents the entire agreement concerning the program between you and Spotware Systems Ltd, (referred to as “licenser”), and it supersedes any prior proposal, representation, or understanding between the parties. If you do not agree to the terms of this EULA, do not install or use any Spotware Systems products.

Spotware Systems is protected by copyright laws and international copyright treaties, as well as other intellectual property laws and treaties. Spotware Systems products are licensed, not sold.

1. GRANT OF LICENSE.
Spotware Systems products are licensed as follows:
(a) Installation and Use.
Spotware Systems Ltd grants you the right to install and use copies of its products on your computer or other supported devices running a validly licensed copy of the operating system for which Spotware Systems products were designed [Windows XP, Windows ME, Windows Vista, Windows 7, Apple iOS, Android].
(b) Backup Copies.
You may also make copies of the products as may be necessary for backup and archival purposes.

2. DESCRIPTION OF OTHER RIGHTS AND LIMITATIONS.
(a) Maintenance of Copyright Notices.
You must not remove or alter any copyright notices on any and all copies of Spotware Systems products.
(b) Distribution.
You may not distribute registered copies of Spotware Systems products to third parties. Evaluation versions available for download from Spotware Systems Ltd, websites may be freely distributed.
(c) Prohibition on Reverse Engineering, Decompilation, and Disassembly.
You may not reverse engineer, decompile, or disassemble Spotware Systems software.
(d) Rental.
You may not rent, lease, or lend Spotware Systems products.
(e) Support Services.
Spotware Systems Ltd may provide you with support services related to Spotware Systems platforms software only (“Support Services”). Any supplemental software code provided to you as part of the Support Services shall be considered part of Spotware Systems and subject to the terms and conditions of this EULA.
(f) Compliance with Applicable Laws.
You must comply with all applicable laws regarding use of Spotware Systems.
(g) Spotware Systems Ltd may be collecting anonymously any performance related data via its platforms that it wishes, without prior warrant from the user. This data will be used solely to improve Spotware Systems Ltd’s platforms only. Spotware Systems Ltd expressly disclaims any warranty for any of the platforms.
(h) You must not perform any fraudulent or misrepresentation action relating to any aspect of the cTrader platform, including but not limited to its functionality, programs, interfaces and logic, or to any other aspect of the cTrader platform’s use and technology components.

3. TERMINATION
Without prejudice to any other rights, Spotware Systems Ltd may terminate this EULA if you fail to comply with the terms and conditions of this EULA. In such event, you must destroy all copies of Spotware Systems products in your possession.

4. COPYRIGHT
All title, including but not limited to copyrights, in and to Spotware Systems products and any copies thereof are owned by Spotware Systems Ltd. All title and intellectual property rights in and to the content which may be accessed through use of Spotware Systems products is the property of the respective content owner and may be protected by applicable copyright or other intellectual property laws and treaties. This EULA grants you no rights to use such content. All rights not expressly granted are reserved by Spotware Systems Ltd.

5. NO WARRANTIES
Spotware Systems Ltd expressly disclaims any warranty for its products. Spotware Systems products are provided ‘As Is’ without any express or implied warranty of any kind, including but not limited to any warranties of merchantability, non-infringement, or fitness of a particular purpose. Spotware Systems Ltd does not warrant or assume responsibility for the accuracy or completeness of any information, text, graphics, links or  any other items contained within the software. Spotware Systems Ltd makes no warranties respecting any harm that may be caused by the transmission of a computer virus, worm, time bomb, logic bomb, or other such computer program. Spotware Systems Ltd further expressly disclaims any warranty or representation to Authorized Users or to any third party.

6. LIMITATION OF LIABILITY
In no event shall Spotware Systems Ltd be liable for any damages (including, without limitation, lost profits, business interruption, or lost information) rising out of ‘Authorized Users’ use of or inability to use the software, even if Spotware Systems Ltd has been advised of the possibility of such damages. In no event will Spotware Systems Ltd be liable for loss of data or for indirect, special, incidental, consequential (including lost profit), or other damages based in contract, tort or otherwise. Spotware Systems Ltd shall have no liability with respect to the content of Spotware Systems products or any part thereof, including but not limited to errors or omissions contained therein, libel, infringements of rights of publicity, privacy, trademark rights, business interruption, personal injury, loss of privacy, moral rights or the disclosure of confidential information.

7. COMMUNICATIONS
You acknowledge and agree that by using cTrader (desktop, web and mobile) and by creating a cTrader ID (cTID), Spotware will collect your email address and by default will opt you into receiving email notifications regarding events which happen inside of The Software as a feature of The Software. Such email notifications shall be related to the services we provide to you. You can opt-out from receiving these email notifications at any time and opt back in at any time. Any notifications to which you subscribe can be updated by using a link that can be found inside any of the related emails you receive. These communications will not be used to promote third party services and your personal details shall not be shared with third parties in this regard.

If at any time, you decide to opt-out, Spotware will never contact you via email with newsletters, marketing or promotional materials.

8. QUICKTRADE
You acknowledge that you have read and understood the following terms and conditions, and you agree to be bound hereby. Your current version of the terminal enables you to choose between the following modes for order submission. You agree that you will be bound by the procedures and conditions specified herein with respect to each such mode.

8.1. The default mode for order submission is the ‘Single-Click’ QuickTrade mode which is a one step process. Using the ‘Single-Click’ QuickTrade mode, you click on either bid (SELL) or ask (BUY) rate button and your order is sent to your broker. When using the ‘Single-Click’ mode, you will not need to confirm your order in any way before it is sent to your broker.

8.2. The ‘DoubleClick’ trading mode for order submission is also a one-step process. Using the ‘Double-Click’ mode, you double-click on either bid (SELL) or ask (BUY) rate button and your order is sent to your broker. No action will occur if you click only once on the bid (SELL) or ask (BUY) button. When using the double-click mode, you will not need to confirm your order in any way after double-clicking before it is sent to your broker.

8.3. The ‘Quick Trading Disabled’ mode for order submission is a two step process. Using the ‘Disabled’ mode, you first click on either bid (SELL) or ask (BUY) rate button once the ‘Create Order’ window opens. You will then need to select a (SELL) or (BUY) order. Using the ‘Quick Trading Off’ mode, your order will not be submitted until you have completed both of the aforementioned steps.

THERE WILL BE NO SUBSEQUENT CONFIRMATION PROMPT FOR YOU TO CLICK. YOU WILL NOT BE ABLE TO WITHDRAW YOUR ORDER ONCE YOU CLICK. UNDER NORMAL MARKET CONDITIONS AND SYSTEM PERFORMANCE, A MARKET ORDER WILL BE FILLED AFTER SUBMISSION AND YOU WILL HAVE ENTERED INTO A BINDING TRANSACTION.

You can change QuickTrade modes or disable it using the ‘ QuickTrade Mode’ button on the top right hand menu section of the platform.

By choosing ‘Single-Click’ or ‘Double-Click’ trading mode, you understand that your orders will be submitted upon your clicking of the bid or ask rate, without any further order confirmation. You agree to accept all risks associated with the use of the order submission mode you have chosen, including, without limitation, the risk of errors, omissions or mistakes made in submitting any order. You agree to fully indemnify and hold harmless cTrader Ltd. from any and all losses, costs and expenses that it may incur as a result of any such errors, omissions or mistakes by you, your trading manager or any other person trading on your behalf.

9. MISCELLANEOUS
(a) Spotware Systems’s product suite for the iOS may retrieve your device’s MAC address, and send hashed (encrypted) version of it to the server to gather de-personalized statistical data.

10. CHARTSHOT
When using the “Chartshot” feature you agree that the information displayed in the chart that you share will be posted on the internet, and will be accessible by other users. This information includes, but is not limited to, chart type, chart background, indicators, colors and drawing objects. cTrader provides a settings to disable this option and can be used at your discretion.

11.CTRADER COPY
This section describes the terms when using the cTrader Copy. Any actual or suspected breaches of any of these terms may result in Spotware Systems Ltd taking any and all necessary action to mitigate the outcomes and impact of such breach(es), including completely reversing the original action that has given rise to the actual and / or suspected breach(es).

11.1. This section describes the terms when using the cTrader Copy feature as a Copier. If you do not agree, then do not proceed to use this service.

  1. Logic of Copying Strategies and Position Size Calculations
    1. When copying a strategy, your position size is calculated based on an equity to equity ratio.
    2. Your equity is calculated based on the amount of funds which have been added to your Copy Trading Account which was designated for following the strategy.
    3. The size of an open position may be adjusted in the event that the position size is modified by the Strategy Provider, due to calculation based on the equity to equity ratio, this affects only the corresponding position to the one adjusted by the Strategy Provider.
    4. If you add or remove funds from the Copy Trading Account or the Strategy Provider adds or removes funds from the account used to provide the strategy then positions will be recalculated according to equity to equity ratio.
    5. The exception to the above rules is the situation where according to the equity to equity ratio, your position size would be below the minimum allowed trade size or above the maximum allowed trade size, those exceptions are;
      1. If your position size is calculated to be below the minimum size allowed by your broker, it will be opened, but rounded up to the nearest minimum volume step allowed.
      2. If your position size is calculated to be above the maximum size allowed by your broker, no position will be opened.
    6. Pending Orders as well as protection orders (Stop Loss and Take Profit) are not copied to your account as they are placed by the Strategy Provider. However, when those orders are executed on the Strategy Provider’s account and results in opening or closing position(s), it will also result in opening or closing the corresponding position(s) on your account.
    7. cTrader Copy does not guarantee that position(s) will be copied for you.  
  2. Results are not guaranteed and may not match those of the Strategy Provider for the following reasons;
    1. The entry and exit prices of your positions differ to those of the Strategy Provider.
    2. The size of your positions differ to those of the Strategy Provider.
    3. The commissions you pay to your broker differ to those of the Strategy Provider.
    4. Your broker does not offer the same symbols which are being traded in the strategy.
    5. You did not have enough margin to follow some of the orders placed in the strategy.
    6. You may have a different Stop-Out Level causing your account to be stopped out, while the Strategy Provider continues to trade.
  3. What happens when you start and stop copying a strategy
    1. Once you start copying a strategy, all open positions in the strategy will also be opened in your Copy Trading Account with entry prices according to the current market price, unless you start copying when the market is closed, which in this case will mean your positions will be opened next time the market opens, depending on the symbol and its trading sessions.
    2. When you stop copying a strategy your positions in the Copy Trading Account will be immediately closed, unless you stop copying when the market is closed, which in this case will mean your positions will be closed next time the market opens, depending on the symbol and its trading sessions.
    3. Unrealized copying commissions will be charged once all positions have been closed.
  4. Investing and divesting in strategies
    1. A strategy can have a minimum investment requirement and you must allocate at least that amount in order to follow the strategy.
      1. Minimum investment requirement is set in the account currency of the Strategy Provider’s account. For your convenience, you can see the amount converted to your account currency according to the current conversion rate.
    2. You can increase as well as decrease the amount that you allocate to a strategy.
    3. However, you will not be able to remove the funds allocated to a Copy Trading Account which is used to follow a strategy if it will cause the Equity to fall below the minimum investment requirement.
    4. To withdraw the full amount, you will need to stop copying the strategy, which will also cause all open positions to be closed.
  5. Fees
    1. Strategy providers are able to determine their own fees to be charged to users copying their strategy.
    2. Strategy providers can charge copiers using one or all of the following methods;
      1. Performance Fee
        1. Performance fee is paid as percentage of realized and unrealized profits generated by the Strategy. It is charged at the end of calculation period, one month. It is also charged at the moment you remove funds or stops copying the strategy.
          Performance fee is subject to High Water Marks. High Water Mark principle ensures that you do not charged twice for the same performance.
      2. Management Fee
        1. Management fee is a periodic payment that is paid to a Strategy Provider regardless Strategy performance. The Management fee is set by the Strategy Provider as an annual percentage of your Equity. It is accrued daily and charged at the end of calculation period, one month. It is also charged at the moment you remove funds or stops copying the strategy.
      3. Volume Fee
        1. Volume fee is applied to each position, according to the size of the position followed, the fee is charged on opening and closing the position, just like they would be when your Broker charges trading commissions.
  6. The role of Copy Trading Account
    1. Copy Trading Account is used to hold the amount of funds you want to allocate to a strategy. The amount of funds in the account is the basis of the equity to equity ratio concept.
    2. The Copy Trading Account cannot be used for your own trading and you cannot modify the positions in the account.
    3. Copy Trading Account allow you to view the trading history and performance of the strategy the account is being used to follow.
    4. Copy Trading Account can only be used to follow one strategy at a time.
  7. What happens when a Strategy Provider stops their Strategy.
    1. Strategy Providers can stop providing their Strategy at any moment. In this case you will stop following that strategy automatically and open positions that were copied will be closed.
    2. Positions will only be closed if the market is open, if the market is closed, positions will only be closed when the market reopens.
    3. All unrealized copying commissions will be charged in the same way as if you decide to stop copying strategy by yourself.
  8. Fees paid for copying
    1. As a follower, you pay the fees you consent to when you start following a strategy.
    2. If Strategy Providers do not charge for their strategy then pay anything.

11.2. This section describes how we shall process your personal data and the terms when using the cTrader Copy feature as a Strategy Provider so long as you choose to use this service. If you do not agree, then do not proceed to use this service.

  1. Your strategy profile including all your account and trading data listed below will be public and visible to other users inside the cTrader Copy application.
    Your strategy profile contains your account and trading data based on the account behind your strategy, as well as your strategy details:

    1. Your performance:
      1. ROI value for all time and for time periods;
      2. ROI % chart;
      3. ROI Monthly chart;
    2. Your account data:
      1. Your current open positions, including: Position ID, Date and Time the position was created, Symbol, Volume, Direction, Entry Price, Current Price, Swap, Commissions owed and to be charged when closing, Channel (e.g, cTrader Web, Mobile, etc.), Label (text added when creating order via cAlgo or Connect API), P&L in pips, Gross P&L, Net P&L.
      2. Your account trading history – all closed positions, including: Deal ID, Symbol, Opening Direction, Closing Direction, Opening Time, Closing Time, Entry Price, Closing Price, Closing Volume, Commissions, Channel (cTrader Web, Mobile, etc.), Swap,  P&L in pips, Gross P&L, Net P&L, Balance after the deal was filled.
      3. Your current account state: Balance, Equity, Margin, Free Margin, Margin Level, Total Unrealized Gross P&L, Total Unrealized Net P&L
      4. Your account age, currency, leverage, starting balance, total amount of deposits and withdrawals.
    3. Your trading stats:
      1. Statistic data based on your trading history, such as the total amount of pips you won or lose, total net profit, profit factor ratio, etc.
      2. Equity chart (including minimum and maximum Equity and Balance per days);
      3. Volume Breakdown chart (including symbols and their volumes that were traded, and the percentage that symbol made up of the total volume traded).
    4. Your strategy details:
      1. Strategy name
      2. Strategy age
      3. Minimum investment
      4. Performance fee
      5. Management fee
      6. Volume fee
      7. Strategy description
    5. Your followers stats:
      1. Copiers chart displaying the statistics of the copiers per months;
      2. Current copiers number;
      3. All time copiers number;
      4. Total amount of funds copying by Live copiers;
      5. Total volume copied.
    6. Your nickname generated by the system based on your cTrader ID.
  2. You agree to receive messages via email to the email address that is linked to your cTrader ID from other users of the cTrader Copy application.
  3. Usage of “get embeddable code“ feature.
    You can get an embeddable code of your strategy and embed it on any website. In this case, your strategy profile with all the data listed in Section 11.2.I will be public and visible to all other users on the website where the code is embedded, therefore, this information is also visible outside of the cTrader Copy application on the web resource where your strategy code is embedded by you.
  4. Usage of “get public link” feature.
    You can get a public link to your strategy and share it with other users. The public link points to your strategy profile with all data listed in Section 11.2.I which is available and visible to anyone who follows the public link without previous authorization in the cTrader Copy application.
  5. Fees.
    1. You are able to determine your own fees to be charged to users copying your strategy.
    2. You can charge copiers using one or all of the following methods;
      1. Performance Fee
        1. Performance fee is paid as percentage of realized and unrealized profits generated by the Strategy. It is charged at the end of calculation period, one month. It is also charged at the moment you remove funds or stops copying the strategy.
          Performance fee is subject to High Water Marks. The High Water Mark principle ensures that you do not charge twice for the same performance.
      2. Management Fee
        1. Management fee is a periodic payment that is paid to a Strategy Provider regardless Strategy performance. The Management fee is set by the Strategy Provider as an annual percentage of your Equity. It is accrued daily and charged at the end of calculation period, which is one month. It is also charged at the moment you remove funds or stop providing the strategy.
      3. Volume Fee
        1. Volume fee is applied to each position, according to the size of the position followed, the fee is charged on opening and closing the position, just like they would be when your Broker charges trading commissions.

12. CMIRROR – the CMIRROR service has been permanently discontinued and is no longer available for use.

13. OPEN API
Spotware Systems provides cTrader Open API to third party software providers to develop services on top of cTrader platform.

13.1. By using any service developed using cTrader Open API, you agree to the following;

  1. You are aware that you might grant access to personal information to the developer of the third party service. This information might include account details, trading activity and trading history.
  2. You have read and agreed with the terms and conditions and the privacy policy provided by the third party provider.
  3. You have been informed on how you can stop using the third party service.
  4. Spotware holds no responsibility for any actions of the third party service taken after you have granted to it access to get account information and/or trade on your behalf.

13.2. By using the cTrader Open API (previously and sometimes still referred to as Spotware Connect API) to develop third party services either for private or commercial use, you agree to the following;

  1. API License
    1. As long as you adhere to this EULA, we grant you a limited, non-exclusive, non-assignable, non-transferable license under Spotware’s intellectual property rights to use the APIs to develop, test, and support your Application, and to let your customers use your integration of the APIs within your Application.
  2. Cost
    1. cTrader Open API is offered for free. Nevertheless, Spotware Systems Ltd reserves the right to change the pricing policy without prior notice and without your consent.
  3. Modification
    1. Spotware Systems Ltd reserves the right to modify the API and the terms of use at any time without prior notice and without any liability.
  4. User Data
    1. By using the API you can gain access to sensitive users information. You may not; Use, store, distribute or use in any other way users personal information without prior explicit approval from the user. Execute trading actions on behalf of the user without prior explicit approval.
    2. Also by using Connect API, you acknowledge that you operate in accordance to General Data Protection Regulation (GDPR) (EU) 2016/679. Spotware reserves the right to restrict or remove access to applications which are found to be in breach of GDPR and privacy-specific obligations and terms.
  5. Resources
    1. You agree to use the API and the resources provided by Spotware Systems Ltd in a fair and sensible manner. You should take all the measures required on your side to avoid unreasonable use of APIs resources. In case of misuse of the API, Spotware Systems Ltd reserves the right to restrict or remove access to your application.
  6. Publicity
    1. Spotware Systems Ltd reserves the right to refer to you as a user of cTrader Open API.

14. CTRADER AUTOMATE

cTrader has a feature called cTrader Automate (formerly cAlgo), which is a part of cTrader Desktop platform. Using cTrader Automate developers can create custom cBots (trading robots) and indicators, which are pieces of executable code that are running inside cTrader Desktop.

14.1. The difference between two types of executables is that a cBot can make trades on a users account and indicators can’t. Both cBots and indicators can access current user data:

  • Account number
  • Account balance
  • List of open positions, pending orders and trading history

14.2. A developer can request extended permissions for a cBot or indicator from the following set of possible permissions:

  • No permissions
  • File System
  • Internet
  • Registry
  • Full Access

Permissions can be combined together, for example a cBot might request permission to File system and Internet access.

14.3. No Permissions is the default permission set and it is used mostly for cBots and indicators. When a cBot or indicator is launched with this permission set, cTrader won’t ask for any confirmation from you. Any other permission set requires confirmation from you when it is launched for the first time.

14.4. cBots are able to perform a trading activity on your account and that can result is financial losses. Spotware holds no responsibility for any actions of the third party service taken after you have granted to it access to get account information and/or trade on your behalf.

14.5. Depending on the permissions which you give, a third-party may be able to retrieve any information or perform any action from the computer you are using to run your cBot or indicator, not only the information available in your cTrader account.

14.6. cBots are distributed as examples for testing purposes only and are not guaranteed to produce any particular outcome or profit. cTrader Ltd makes no guarantees of any kind, expressed or implied, about the accuracy and reliability of the cBots, or their suitability to your own trading.
Any reliance placed on the cBots/Algorithms is strictly at your own risk. Spotware Systems Ltd will not be liable for any loss or damage incurred, including but not limited to: consequential loss or damage of data or profits arising out of or in connection with any use of these cBots.

Pressing a 'start cBot' button will instantly launch a cBot which may result in trading operations. The cBot will follow statements and apply parameter values as have been specified in its source code. By using any cBot, you accept all responsibility for the trading activity and outcomes.

The cBots/Algorithms will not perform encoded functions when the platform is not running, or if the connection to the server is lost. cBots will not be able to perform any given functions, including but not limited to: opening trades, closing open trades, adjusting stop loss levels or adjusting take profit levels. Spotware Systems Ltd is not responsible for any losses or damage incurred when connection to the server is lost.

15. PROFILE PAGE

15.1 By using the "Profile" functionality on ctrader.com, you can establish a personalised page associated with the creation of your cTrader ID (cTID). You can use this page as a promotional tool to showcase your trading statistics, profile image, cover image, recommended broker and the cTrader copy strategies you provide as well as the strategies you have added to Favourites. You can also choose to make your personal information publicly available.

15.2 You acknowledge and agree that after activating the option "Make your profile public" on your profile page, your personal and contact information, your trading statistics (including total live traded volume in USD, most traded symbols and the amount of pips you have won), your recommended broker, the cTrader copy strategies you provide, the strategies you have added to Favourites as well as the profile and cover image you have set up will be publicly available and displayed across all cTrader products that support the respective functionality. As part of this processing, you agree that Spotware Systems Ltd. reserves the right to moderate the content you post. Spotware may, at its discretion, fully or partially delete such content to maintain a professional and acceptable environment for all users, including yourself.

15.3 You hereby agree that The company cannot be held liable for any trading advice provided or received by any party involved and/or part of and/or using the Profile Page. You agree that the company does not offer advice, whether explicitly or implicitly, in any regard, including but not limited to trading, investment, or financial matters. All trading decisions made by You and/or individuals and/or parties shall be their own responsibility, and the company cannot be held liable and/or accountable for any consequences arising from such decisions.

15.4 By using and/or acting according to trading advice provided by any other user, you agree to indemnify and hold harmless the company and its directors, officers, employees, agents, and affiliates from any and all claims, demands, liabilities, costs, and expenses (including legal fees) arising from or related to the trading advice received and/or acted upon.

15.5 You further agree to indemnify and hold the company harmless against any claims made by third parties arising from your use of the trading advice, including claims of negligence, breach of duty, or any other legal action.

15.6 Clauses 15.3, 15.4, 15,5 shall survive the termination of this agreement.

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The services provided by Spotware Systems Ltd. are not available to citizens or residents of the USA. Neither is the information on our websites directed toward soliciting citizens or residents of the USA.