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cTrader Copy EULA

End-User License Agreement for cTrader Copy

cTrader Copy EULA for Strategy Providers

IMPORTANT, PLEASE READ THE TERMS AND CONDITIONS OF THIS LICENSE AGREEMENT CAREFULLY BEFORE CONTINUING WITH THIS SERVICE.

This cTrader Copy End User License Agreement for Strategy Providers is a legal agreement between you (either an individual or a single entity) and Spotware Systems Ltd., the software provider of the cTrader platform and cTrader Copy Service. This Agreement is an addendum to the Spotware EULA which you are already bound to by using other services from Spotware Systems such as cTrader.

By using the cTrader Copy feature of the cTrader Platform to provide Strategies in cTrader Copy you agree to be bound by the terms of this cTrader Copy EULA for Strategy Providers. If you do not agree to the terms of This cTrader Copy EULA for Strategy Providers, do not install, launch or use the cTrader Copy Service. If at any point your preferences change and you no longer accept these Terms & Conditions, please stop using the cTrader Copy Service. If you do not agree to the terms of this service, you may continue using other products, features, websites and software available from Spotware Systems ltd.

This agreement 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:

  • Your performance:
    • ROI value for all time and for time periods;
    • ROI % chart;
    • ROI Monthly chart;
  • Your account data:
    • 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.
    • 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.
    • Your current account state: Balance, Equity, Margin, Free Margin, Margin Level, Total Unrealized Gross P&L, Total Unrealized Net P&L
    • Your account age, currency, leverage, starting balance, total amount of deposits and withdrawals.
  • Your trading stats:
    • 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.
    • Equity chart (including minimum and maximum Equity and Balance per days);
    • Volume Breakdown chart (including symbols and their volumes that were traded, and the percentage that symbol made up of the total volume traded).
  • Your strategy details:
    • Strategy name
    • Strategy age
    • Minimum investment
    • Performance fee
    • Management fee
    • Volume fee
    • Strategy description
  • 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.
  • 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 1 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 1 which is available and visible to anyone who follows the public link without previous authorization in the cTrader Copy application.

5. Fees.

  • You are able to determine your own fees to be charged to users copying your strategy.
  • You can charge copiers using one or all of the following methods;
    • Performance Fee
      • 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.
    • Management Fee
      • 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.
    • Volume Fee
      • 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.
  • Spotware retain 30% of the fees charged by you, this fee is deducted from the amount retained from your copiers.
    • If you do not charge for your strategy then nothing will be retained.

cTrader Copy EULA for Copiers

IMPORTANT, PLEASE READ THE TERMS AND CONDITIONS OF THIS LICENSE AGREEMENT CAREFULLY BEFORE CONTINUING WITH THIS SERVICE.

This cTrader Copy End User License Agreement for Copiers is a legal agreement between you (either an individual or a single entity) and Spotware Systems Ltd., the software provider of the cTrader platform and cTrader Copy Service. This Agreement is an addendum to the Spotware EULA which you are already bound to by using other services from Spotware Systems such as cTrader.

By using the cTrader Copy feature of the cTrader Platform to Copy Strategies in cTrader Copy you agree to be bound by the terms of this cTrader Copy EULA for Copiers. If you do not agree to the terms of This cTrader Copy EULA for Copiers, do not install, launch or use the cTrader Copy Service. If at any point your preferences change and no longer accept these Terms & Conditions, please stop using the cTrader Copy Service. If you do not agree to the terms of this service, you may continue using other products, features, websites and software available from Spotware Systems ltd.

This agreement 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

  • When copying a strategy, your position size is calculated based on an equity to equity ratio.
  • 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.
  • 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.
  • 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.
  • 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;
    • 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.
    • If your position size is calculated to be above the maximum size allowed by your broker, no position will be opened.
  • 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.
  • 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;

  • The entry and exit prices of your positions differ to those of the Strategy Provider.
  • The size of your positions differ to those of the Strategy Provider.
  • The commissions you pay to your broker differ to those of the Strategy Provider.
  • Your broker does not offer the same symbols which are being traded in the strategy.
  • You did not have enough margin to follow some of the orders placed in the strategy.
  • 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

  • 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.
  • 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.
  • Unrealized copying commissions will be charged once all positions have been closed.

4. Investing and divesting in strategies

  • 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.
  • You can increase as well as decrease the amount that you allocate to a strategy.
  • 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.
  • 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

  • Strategy providers are able to determine their own fees to be charged to users copying their strategy.
  • Strategy providers can charge copiers using one or all of the following methods;
    • 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.
    • 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.
    • 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

  • 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.
  • The Copy Trading Account cannot be used for your own trading and you cannot modify the positions in the account.
  • Copy Trading Account allow you to view the trading history and performance of the strategy the account is being used to follow.
  • Copy Trading Account can only be used to follow one strategy at a time.

7. What happens when a Strategy Provider stops their Strategy.

  • 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.
  • Positions will only be closed if the market is open, if the market is closed, positions will only be closed when the market reopens.
  • All unrealized copying commissions will be charged in the same way as if you decide to stop copying strategy by yourself.

8. Fees paid to Spotware

  • As a follower, you pay the fees you see on the screen.
  • Spotware retain 30% of the fees charged by all Strategy Providers, this fee is deducted from the Strategy Provider, not you.
  • If Strategy Providers do not charge for their strategy then nothing will be retained.