Terms of service
GENERAL TERMS AND CONDITIONS
1. scope of application
The business relationship between MJ TECHNOLOGY LTD, Archiepiskopou Makariou III, 59, MOUYIAS TOWER, 3rd floor, Flat/Office 301, 6017, Larnaca, Cyprus, represented by the managing director, (hereinafter referred to as „service provider“) and the customer (hereinafter referred to as „customer“) shall be governed exclusively by the contract concluded within the scope of registration and these General Terms and Conditions in the version valid at the time of the order. Deviating general terms and conditions of the Customer shall not be recognized.
The Customer is a consumer insofar as the purpose of the ordered deliveries and services cannot be attributed predominantly to his commercial or independent professional activity. On the other hand, an entrepreneur is any natural or legal person or partnership with legal capacity who, when concluding the contract, acts in the exercise of his commercial or self-employed professional activity.
a) „ALCHEMIST“ is a software that executes trades independently. This software assumes the following: that the client has his own trading account with a broker, that the software is installed on an IT device and is continuously connected to the Internet. The software solution assumes that a leverage of 1:200 is selected.
3. service description
The service provider offers its customers basically the following services:
a) The software solution „ALCHEMIST“ is offered independently of an ACADEMY account. The software solution is fully usable as long as the customer has acquired usage rights. After the expiration of the usage period, ALCHEMIST will only maintain the open positions, and if necessary, open further positions, in order to secure the already opened position against negative price developments (hedging).
b) Notes: The Service Provider does not provide investment advice and does not do so on any of its channels or e.g. in videos, live video phone calls, in messanger groups (e.g. via Telegram) or by providing its software solutions (e.g. „ALCHEMIST“). Furthermore, the provider does not perform any money or other banking transactions or securities trading for customers. It does not trade with money or securities of the customer. The Provider does not have access to Customer’s accounts or securities accounts.
c) Risk information: The Service Provider does not assume any liability for its recommendations or for the software solutions provided by it and expressly points out that trading with exchange rates is risky and may lead to high asset losses. Trading is based on exchange rate fluctuations. Exchange rate fluctuations and market conditions cannot be predicted and may furthermore be volatile and risky.
d) The Service Provider also points out that it has programmed its software solutions to the best of its knowledge, but does not guarantee that it will always output the correct results. The use of the software is therefore expressly at the Customer’s own risk, who is solely and exclusively responsible for the input of data, the execution of the software and any possible losses.
e) Note: The Service Provider cooperates with the brokers Pacific Union Ltd, RoboForex Ltd, EagleFX Ltd and Hugo’s Way Ltd and regarding the server, with the provider Hostwinds LCC. In case affiliate links are used, the service provider receives commissions from the mentioned brokers and the server provider Hostwinds LCC. The cooperation with these brokers and Hostwinds LCC is therefore always marked as advertising.
4. rights of use and account access
a) The customer receives with complete payment of the respective monthly fee the non-exclusive, temporally limited to the term of the contract, non-transferable and non-sublicensable right to use the training contents within the software solutions.
b) Deviating from point 4 paragraph a), the following applies in the case of claiming the money-back guarantee for ALCHEMIST, which was booked with the one-time-payment option: The Customer is granted the non-exclusive, perpetual, non-transferable and non-sublicensable right to use the software solution.
c) The customer is entitled to download information for private purposes and to use this data for an unlimited period of time.
d) The Customer is not entitled to provide or transfer to third parties the access data for the services specified in § 3, the training documents and software solutions of the Service Provider. In particular, it shall be prohibited to sell, lend, rent or otherwise sublicense access data or training content or to reproduce or make such data available for public retrieval unless the Service Provider has expressly permitted this in writing. Furthermore, the Customer is not permitted to edit or decompile the software solutions.
e) If the Customer violates any of the above provisions, all rights of use granted under the Agreement shall become invalid and shall automatically revert to the Service Provider. In the aforementioned cases, the customer shall immediately and completely discontinue the use of the services. The service provider reserves the right to block user accounts without prior notice.
(1) The remuneration for the services in § 3 depends on the service package booked by the customer (https://the-algorithmic-trader.com). Remuneration details are to be understood as gross prices including value added tax at the applicable rate in accordance with the UStG.
(2) The remuneration is due for payment on the day on which a service (§ 3) is booked. If the contract is extended according to § 7, the remuneration is due at the beginning of the new term.
(3) The services are billed via an external payment service provider (Copecart or Stripe) and automatically collected for payment.
(4) Money Back Guarantee for and „ALCHEMIST“: Each Client will be refunded the paid fee if the software does not achieve positive results within the first 14 days after registration, i.e. if the sum of the realized positions reduces the value of the initial capital in such a way that the account balance is lower than at the time of the initial capital deposit, and the Client writes an e-mail to the Service Provider requesting to make use of the „Money Back Guarantee“. The refund will be made through the means of payment used by the User at Copecart or Stripe. In addition, the customer will receive a credit of 100 euros, which will be paid through a payment provider or by bank transfer, if the money-back guarantee is claimed for a contract with the payment option „One-Time-Payment“. This money-back guarantee is valid if the software „ALCHEMIST“ has been installed under the conditions specified by MJ Technology Ltd. This also refers to the conditions of the broker.
6. protection of the services
The customer is obliged to protect the provided software solutions from access by unauthorized third parties by appropriate measures. Passwords must be kept confidential and secure. Access data must not be given to third parties. This does not apply to providers of password manager software or brokers.
7. term and termination
(1) The term of the contract depends on the selected service package (1 month, 3 months, or one-time payment).
(2) If the contract is concluded for the duration of one month, the term is one month. The contract is always automatically extended by another month if it is not cancelled at least one week before the end of the term.
(3) If the contract is concluded for the duration of on month or three months for the software ALCHEMIST, the term is three months. After the end of the term, the software can only be used partially (clause 3 lit. b).
(4) If the contract is concluded for an indefinite period of time („ONE-TIME- PAYMENT“), the term is unlimited and ends when the service provider terminates the contract, e.g. because the service is no longer offered. The contract may be terminated at any time.
(5) In addition, the contract may be terminated in writing by either party without notice for good cause. Good cause entitling the Service Provider to terminate the Agreement shall exist in particular if the Customer violates the Service Provider’s rights of use by using the Service beyond the extent permitted under this Agreement and fails to remedy the violation within a reasonable period of time following a warning by the Service Provider. An important reason would also be, a cessation of operations or the termination of one of the services mentioned in § 3. In all other respects, reference is made to § 543 BGB.
(6) Notice of termination can be given within the service platform or by e-mail. The receipt of the notice of termination by the Service Provider shall be decisive for the observance of the notice period.
(1) The Service Provider warrants that the contractually agreed quality (§ 2) of the Service will be maintained during the term of the contract and that no rights of third parties conflict with the contractual use of the Service. The Service Provider shall remedy any material defects and defects of title in the leased property within a reasonable period of time.
(2) The Customer is obligated to notify the Service Provider of defects of the Service immediately after their discovery via one of the contact options offered (via e-mail to email@example.com, Telegram or WhatsApp). In the case of material defects, this shall be done by describing the time of occurrence of the defects and the detailed circumstances.
(1) General terms and conditions of the customer shall not apply.
(2) Place of performance is Munich. The exclusive place of jurisdiction shall be Munich, provided that each party is a merchant or a legal entity under public law.
(3) All annexes mentioned in this contract are part of the contract.