These terms and conditions are between Cypratec Ltd, (also referred to as “We”, “Us”) and the user also referred to as (“you”, “yours” or “the customer”) sets out the terms and conditions governing your use of our Algorithmic trading software called Tekton (herein referred to as the ‘Software’)
Is an automated electronic program tool capable of opening and closing investment positions, without user manual intervention or decision making. The user creates a set of algorithms that work according to your predefined instructions. There is no other human intervention prior to or after the placing of the trades, other than any intervention made by you.
The electronic program is similar to a robot and does not function based on human emotions but based on predefined parameters to place trades in the financial markets. It is important to understand and confirm that you have sufficient knowledge and experience of using a trading robot, or have taken the time to carefully study the use of the Algorithms or conditions created and have introduced these parameters based on well-educated decisions according to the investment strategy of your choice, risk level and tolerance as defined for your trading platform.
Tekton has been developed to run alongside the XOH Trader Platform which is provided by xOpenHub. This integration allows accurate price feeds and signals to be sent on your behalf to open and close trades in the market.
Before using the Software, it is recommended that you have thoroughly considered your investment goals, your level of knowledge and experience to understand the risks involved in Forex and CFD (Contract for Difference) trading, understanding and risk tolerance. You should not invest any money that you are not in a position to risk losing.
By requesting access to the Software, you agree that you are using it at your own discretion, based on your own experience, investment decisions and strategies. You further agree that you are responsible for the trading plan, investment parameters and choices made – based on your strategy set ups & choices.
When using the Software, you confirm that you understand and fully accept the risks involved in the use of the Software. In addition, you understand and confirm that it is your sole decision to use the Software that will place orders for you on CFDs such as Forex, Commodities and Indices or any other financial instrument available within the software, as determined by your chosen parameters.
No financial advice, personal recommendations or any other financial services are offered by Us. The use of our Software does not imply that we are providing you with any financial advice. Should you require financial advice or are in any doubt, you should consult a professional independent financial advisor before making any investment decisions.
The Software does not offer portfolio management services, account management, advisory services, or fund management.
The Software will simply execute the strategy that you choose according to your own investment decisions. The Software does not guarantee that you will make a profit. You should understand that by trading CFDs such as Forex, you run the risk of making significant losses on your invested capital which you alone are responsible for. You should use this Software with a trading platform provided by a third party authorised investment firm, which will ensure your trades are executed through an appropriate execution venue. The operations of the trading platform are solely provided by the third party authorised and regulated Investment Company where you have opened a trading account.
You hereby confirm that you have carried out a thorough research on the Software and as to its suitability, for the reasons you wish to use it.
The Software has been developed by Software developers. The Software will work through the server of your CFD trading platform, sourced by the authorised Investment firm, that you have selected. We will provide you with any relevant Software upgrades and technical support service, for the use of the Software alone and not for the use of your CFD trading account provided by the Investment firm you have chosen.
By agreeing to these terms and conditions you understand that although we try to provide you with a smooth Software functionality, nevertheless this is not guaranteed and it is possible for you to experience problems with Software’s functionality, connectivity to the investment firm’s servers and other technical failures. You also agree that neither the Software nor the Software providers are responsible for any technical, server connectivity or functionality failures. Please note that it is your responsibility to monitor the operation of the Software, control its operation, amend its parameters when and where needed and shut down its operations at any point at your own discretion. You further agree that neither Tekton nor its distributors are liable for any potential requests made by the investment firm, authorised by you to provide you with a CFD trading account and execute your trades, to shut down the operation of the Software at any point due to compatibility issues with their servers, nor is Tekton or its distributors liable for any potential resulting financial losses you may experience as a result of any requests made by the third party investment firm.
It is important to realize that using such Software in conjunction with performing transactions on an online trading platform will almost certainly create tax and other obligations you, for which you should have obtained the necessary independent advice from the relevant professionals. You agree therefore that you will have received advice in understanding these obligations.
You agree that we do not offer you any legal or tax or other financial services advice.
You need to know and understand that hypothetical, test and historical returns never reflect real returns, nor can they be the basis for expecting future returns.
Past performance is not a guide or guarantee to future performance.
The value of your investments may fall as well as rise and you may not get back the original amount invested.
When evaluating software performance based on hypothetical, historical, or simulated results, you understand and accept that in these results or only estimates you have taken into account the fact that these operations may not have been executed in the actual market, the results may have or appreciated due to some important market movements and events, such as the lack of liquidity in the market, and that such simulations have been designed with the benefit of later knowledge of the facts. These results do not guarantee the success of the strategy, as the results of the software will depend to a large extent on your strategy as you set it up, track it and control it and how it works.
As software designers, we DO NOT offer any kind of guarantee that the Software or the parameters that you define for your investment strategy is likely to yield you profits and you acknowledge and accept that you can make losses.
You hereby acknowledge and accept that you have taken this as our unique position as software designers and providers.
You agree that you understand, are familiar with and you are solely responsible for:
· 1. Using the Software (for example how to start it, stop it, track it).
· 2. Adding and amending your trading parameters to the Software in line with your own risk tolerance and how to define your own investment strategy.
· 3. Due to the effect of leverage on CFDs, there is a risk of losing all your capital
· 4. You are responsible for the buying and selling of CFDs on the trading platform provided by the 3rd party investment firm you have opened a trading account with.
· 5. You do not receive any investment advice from us. The investment strategy is yours.
· 6. You do not receive portfolio management services from us. The software does not give you such services. It is your responsibility for this process.
· 7. Software has not been assessed or recommended to be suitable for you based on your personal circumstances. The parameters are not pre-defined for you based on your personal circumstances. The Software is a product that you have licensed from us, to amend according to your own investment objectives, risk tolerances and preferences. The Software is available for you to use at your discretion. The risk management and control of the Software is your responsibility and not the responsibility of the Software or Cypratec Ltd. The commands that are transmitted are your own commands and not the software.
· 8. For questions about your tax obligations that may arise from the use of an investment account with your investment firm in connection with the use of the Software, you confirm to have received or you may obtain relevant information from licensed professionals prior to use of the Software.
· 9. You are able to obtain independent professional financial advice on the above issues.
· 10. We will not customize the Software for you. You will configure it yourself.
· 11. The Software will be applied to a server provided by your trading account established with a third-party investment firm.
· 12. Once you are logged in to the Software, and set the algorithmic trading software in motion, as “Running”, Tekton will place trades on your behalf and will communicate with the trading platform, to open, close, amend your trades associated with the trading algorithm set by you.
· 13. Any attempt to tamper with the Software and server components will result in discontinuation of the use of the Software without notice and will be a reason for immediate termination of the Software license.
· 14. By using the Software you are agreeing to undertake trading CFDs which carry significant risks to your capital. If you have any doubts about using it immediately stop the Software function from trading any further.
· 15. Using the software is not necessarily a better solution than manual transactions that will guarantee better results. Instead, it too involves risks while giving you less control.
· 16. You expressly acknowledge that you have not received any assurance from us about the outcome of the use of the Software or the performance of the Software. For any questions you may have, you have obtained independent professional financial advice.
· 17. As a part of the sign-up process in using the Software, you understand that you will be contacted by www.poweredbytekton.com for the provision of the Software and / or to help explain about the Software. You accept that your personal information may be passed onto relevant third parties to contact me about their trading accounts when you sign up to a live trading account with them.
· 18. You have read and agree to the risks in using the Software for trading CFDs on a third-party online trading platform.
As software contractors, it is our responsibility to deliver the Software to you. Thereafter the Software and the use of the Software is your responsibility.
You agree that you know about the risks and that you are solely responsible for the outcome of the operations and instructions of the Software.
We accept no liability for any direct or indirect damage or losses that may be caused as a result of your use of the Software.
It is your sole responsibility to ensure that you have sufficient knowledge and experience of trading CFDs and understand the risks involved, before embarking on using the Software or any live trading platform.
By logging in to our Software with your trading account, you are hereby agreeing to these terms and conditions signing this, and by signing and accepting points 1 to 19, you expressly confirm that you have obtained all the necessary independent advice on all the issues raised. You also acknowledge that you have understood all the risks and liabilities that may arise and wish to acquire the software.
If any dispute or difference whatsoever shall arise between the parties in connection with or arising out of the use of the software, you may contact our support team by email at email@example.com.
Both parties shall first seek to resolve the matter between themselves within a period of 14 days. You should be aware that Cypratec Ltd is not responsible for any costs or losses, including, but not limited to, those incurred as a result of the use of the Software.
Cypratec Ltd does not take responsibility for any electronic or technological errors that occur while using the Software.
If your dispute is as a result of any losses on the account or any other matter relating to the performance of trades on your trading account, you must direct your dispute to the compliance department at the Forex Broker that you have opened an account with, which has been connected to the Software. It is important to note that there is no guarantee that Forex Brokerage firms would uphold your complaint, which relates to losses on your account, as any losses on your trading account will be your responsibility.
When opening a trading account with a Forex Brokerage firm, you must be able to demonstrate your knowledge and experience in trading and be able to understand the risks of trading. As such you would be responsible.
Any Tekton strategies provided or created by you are not a recommendation to buy or sell, but rather a set of tools to facilitate the execution of a specified analysis method. The Software should only be used by investors who are aware of the risks inherent with trading CFDs.
Tekton does NOT guarantee anything. The user is responsible for any trades generated by the Algorithmic trading software. By using the Tekton service, the user acknowledges that they are in complete control of the product, can turn it off, modify certain risk settings such as leverage, cancel any trades at any time. It is highly recommended that you test the trades generated by Tekton in a demo environment to verify that it in fact functions to your expectation.
Please be aware that while the demo environment is similar to the live environment, there will be differences in the way trades are processed and executed. For example,
in a demo environment there will not be any risk of slippage due to market volatility, whilst in a live environment this is a possible situation.
xOpenHub is the company that owns the XOH Trader platform. You acknowledge and accept that Tekton is not in any way affiliated with, a subsidiary, agent, or a partner of xOpenHub. Cypratec Ltd has no relationship with xOpenHub other than providing its Software that can be utilised on the xOpenHub platform by customers / clients for their trading purposes.
It should be clearly known that other than a technology agreement between the two companies, Cypratec Ltd and Tekton is not in any way affiliated with, a subsidiary or agent of xOpenHub, a company which owns the XOH Trader Platform.
CFDs and Forex are complex and leveraged derivative products, traded on margin and place your capital at risk of losing money rapidly. Please note that margin trading requires extra caution, because whilst you can realise large profits if the price moves in your favour, you risk extensive losses if the price moves against you. You may sustain a loss of some or all of your invested capital. Trading in CFDs is high risk and may not be suitable for everyone. You should consider whether you can afford to take the high risk of losing your money. Ensure that you have sufficient knowledge and experience of trading CFDs to understand the risks involved. Please seek independent professional financial advice if you do not understand the risks. Further, because you will be involved in investment, it is imperative that you are not only familiar with the markets but that you have obtained necessary independent investment, legal and tax advice.