Welcome to FX Selects, and thank you for visiting the website for FX Selects (owned by Smith Capital Investments LTD)
It is essential that we provide you with these terms and conditions for your understanding. If you have any questions, please reach out to us via email at hello@fxselects.com.
These terms and conditions pertain to the utilization of the services offered on our website, www.fxselects.com.
Please review them promptly before using our website or enrolling in our services.
BY USING OUR SITE OR SIGNING UP FOR OUR FUNDED TRADER PROGRAMS, YOU CONFIRM ACCEPTANCE OF THESE TERMS AND CONDITIONS AND AGREE TO COMPLY WITH THEM. IF YOU DISAGREE, PLEASE REFRAIN FROM USING OUR SITE.
Note that these are not our sole terms. You should also refer to:
(1) Our Privacy Policy.
(It outlines how we handle your personal data and is crucial for your understanding);
(2) FAQs & the Challenge, Instant, & Direct Funding pages.
(It specifies rules and guidelines for participation in our Funded Trader Programs);
(3) Fee & Refund Policy.
(It explains the fee structure, refund, and chargeback terms).
It is vital to know who we are, and we've outlined our details below:
Full name of legal entity: Smith Capital Investments LTD with company number 14413710
Email: hello@fxselects.com.
Address: 162 high street, Rayleigh, Essex, ss67bs
WHO IS INVOLVED IN THIS AGREEMENT?
FX Selects (the Company): As the provider, FX Selects offers evaluation and challenge-funded accounts to clients through its Funded Trader Programs.
You (The Client): As a participant in FX Selects' Funded Trader Programs, the client acknowledges and accepts these terms and conditions by enrolling in any of FX Selects' Funded Trader Programs.
NATURE OF SERVICES
Educational Purpose
FX Selects operates primarily as a software development and educational prop firm, providing simulated funded accounts for traders for educational purposes aimed at enhancing risk management, trading psychology, and compounding profits through its Funded Trader Programs.
What FX Selects offers is a valuable educational opportunity through its Funded Trader Programs. These programs are designed to evaluate traders' performance, irrespective of their nationality.
Non-Regulated Activities
FX Selects is not registered or regulated; Consequently, it does not engage in regulated activities, ensuring that its operations align with regulatory guidelines. Furthermore, FX Selects is not a financial institution or a broker, nor does it promote brokerage services. FX Selects does not invest client’s money, ask for deposits, or trade clients' capital in financial markets; all funding originates from the company’s revenue and its directors’ own funds. FX Selects does not act or conduct services as a custodian.
Purchases of the programs should not be considered deposits. All program fees are used to cover operational costs, including but not limited to staff, technology, marketing, and other business-related expenses.
FUNDING AND CAPITAL MANAGEMENT
Source of Funds
FX Selects does not invest or trade with clients’ capital. All funding provided to traders through the Funded Trader Programs comes exclusively from the company’s diverse revenue streams.
WHO CAN BE FUNDED BY FX SELECTS?
WHAT THE FUNDED TRADER MUST NOT DO
KYC PROCEDURE
For KYC purposes, the Client agrees to provide FX Selects with any KYC information that FX Selects requests from the Client at any time, including but not limited to the following:
(1) Proof of Identity: a valid ID, Passport, or Driving Licence with an expiry date of no less than 3 months.
(2) Proof of Address: a Recent Utility Bill, Bank Statement, or Broadband Bill dated no older than 3 months.
(3) A Selfie holding the ID.
(4) 30-second short video.
TRADING STYLES & EAS
News Trading: The Client is allowed to trade during all Economic news events without any restrictions.
Weekend Trading: Any trades can be left open on weekends without restrictions.
Stop Loss: The Client must use a stop loss on every position as soon as possible within a 1-minute window. Failing to do so will trigger our risk management system to close the position automatically.
Trades Duration: With FX Selects, the Client can trade any trading style (scalp, day trading, or swing trading) as long as it doesn’t fall within the Prohibited trading strategies below.
Illegal Trading Practices: High-Frequency Trading, Ultra-Fast Scalping, Latency Arbitrage Trading, Any Tick Scalping Strategies, Any Reverse Arbitrage Trading, Any Hedge Arbitrage Trading, and Any use of emulators are not allowed.
Copy Trading: Any mirrored trading, Copy Trading of other people’s signals, Group Trading with other individuals, or funded account management services are not allowed. Any Copy Trading activity mentioned above will cause immediate termination of the account.
However, The Client can copy trades from their personal account to our funded account, provided the Client can supplement proof to us and comply with the terms and conditions.
EA: It is prohibited to use the same EA by one individual on more than two accounts or by multiple individuals on multiple accounts.
Gamble to pass: To prevent gambling behavior and ensure responsible trading practices to assess the trader’s performance on our funding programs accurately, it is prohibited to attempt to pass challenges or evaluations using gambling behavior. Traders must demonstrate consistent trading activity over the assessment period to pass to the next level. Gambling behavior is defined as:
(1) Maxing out the account’s leverage or account risk in the hope of passing the challenge in 1 or a few positions.
(2) Leaving a position open until it hits the profit target with no trade management (This is not to be confused with swing trading, where the trader has managed the position).
(3) Hedging Across accounts with the hope that one account will hit the profit target while the other loses.
(4) Opening positions in opposite directions with the hope that one of them will hit the profit target.
(5) Churning of Accounts where the client buys many accounts and trades them with excessive risk with the sole objective of hitting the profit target quickly with no consideration to risk management or showing consistent trading performance.
(6) Martin Gale & Grid Trading: is a trading strategy with a high-risk approach where traders increase their position size on losing open positions with the hope of eventually recovering losses and achieving a profit.
THE TRADING PLATFORM
COMPLYING WITH THE TERMS AND CONDITIONS
PAYOUTS POLICY
THE TERMINATION OF THE FUNDED TRADER PROGRAM
The termination of the Funded Trader Program can occur due to the trader’s inability to adhere to the terms and conditions of this agreement.
The termination of the Funded Trader Program Agreement may occur for any of the following reasons:
4. The use of the Funded Trader Program for any other purpose than the authenticity of the individual trading.
The Client agrees that at all times, FX Selects has the right to terminate this Agreement as it sees fit to its risk tolerance and willingness to risk its own capital to fund the Client if it deems it to be risky or reckless behavior at its own discretion.
THE TERMINATION NOTICE
2. FX Selects will disable the trading permission in the Funded Account, and the Client will lose access to that specific Funded Account. However, the Client will enjoy continued access to the FX Selects Dashboard.
COMMUNICATION WITH THE COMPANY
3. The Client must provide a valid name and email while enrolled in any of the Funded Trader Programs to allow real-time communications with FX Selects’ staff.
6. The Client must notify FX Selects of any trader’s email address changes.
MISUNDERSTANDING AND ERRORS IN COMMUNICATIONS
Subject to the terms and conditions of this Agreement, neither party hereto shall be prejudiced in any way by inadvertent errors or omissions made by such party, providing such errors and omissions are corrected promptly following discovery thereof.
Upon discovering an inadvertent error or omission by either party hereto, appropriate adjustments shall be made as soon as possible to restore both parties to the fullest extent possible and to the position they would have been in had no such inadvertent error or omission occurred.
FX Selects reserves the right to future changes to these terms and conditions upon notifications via an official email address given by the Client. The Client will be committed to the changes or officially be asked to resign from the program.
SPREADS & COMMISSIONS
Spreads
The spreads we use are very competitive, and it is usually 0.3 pips for EURUSD on average.
Different market conditions and liquidity can cause spreads to vary accordingly. At high volatility events, such as during high-impact economic releases, the spreads can widen.
At the end of each day, between 10 PM & midnight UK Time, the banks move vast amounts of orders from the current day to the following day while there is less liquidity. This may cause spreads to be significantly increased. Therefore, it is advisable to widen stop losses during these times to avoid unwanted execution of nearby orders due to technicalities.
Commissions
The commission is fixed at $2.25 per lot per side for FX and Commodities and $0.225 per lot per side for indices on the Challenge Phases 1 and 2 and the 1st Phase of the Instant Funding.
The commission is fixed at $2.75 per lot per side for FX and Commodities and $0.275 per lot per side for indices on the rest of the Phases of the Funded Trader Programs.
MARKET GAPS & SLIPPAGE
Sometimes, during very illiquid periods, the markets can gap significantly. Any orders placed at prices with no quotes will be filled at the next available price. This may result in opening the trade at a less favourable price.
Slippage can occur at any time but is mostly relevant during periods of high volatility when market orders are executed. This can also happen when a large market order is executed, but there isn’t enough volume at the chosen price to execute the trade at the current market price. Slippage can occur when there is a delay between the trade being ordered and when it’s completed. Therefore, Fx Selects does not guarantee to pay the profit for trades where significant slippages occur.
RESPONSIBILITIES AND OBLIGATIONS
Fx Selects is committed to providing a platform conducive for learning and growth in trading, ensuring compliance with applicable regulations and safeguarding personal data according to prevailing data protection and privacy laws.
Interview Process
As part of the funding process for traders who have successfully passed Fx Selects’ Evaluation/Challenge and are eligible for participation in Fx Selects’ funded trader programs, participants are required to undergo an interview conducted by Fx Selects representatives. The purpose of this interview is to better understand the trader’s background, trading goals, and suitability to become a funded trader and join the funded trader programs. The interview may cover topics related to trading experience, risk tolerance, and other relevant factors.
Agreement Termination
Failure to comply with the interview requirement upon request by Fx Selects may result in the termination of the agreement between the trader and Fx Selects. Fx Selects reserves the right to terminate the trader’s participation in funded trader programs if the interview is not completed within a reasonable timeframe as determined by Fx Selects.
Marketing Consent
By agreeing to these Terms and Conditions, the trader acknowledges and agrees that Fx Selects may use the information gathered during the interview for marketing and promotional purposes. This may include but is not limited to, showcasing success stories, testimonials, and other relevant information on Fx Selects’ website, promotional materials, and social media channels.
Confidentiality
Fx Selects is committed to maintaining the confidentiality of the information obtained during the interview process. Personal and sensitive information will be handled in accordance with Fx Selects’ privacy policy and applicable data protection laws.
REVIEW OF TERMS
We periodically update our terms of service to serve you better and comply with regulatory updates. It is your responsibility to review these terms regularly to stay informed about any changes. Each time you use our site, please ensure to check and fully understand the prevailing terms and conditions.
ACCESS TO OUR SITE
No Fees
We provide access to our site free of charge.
Availability
While we strive to keep our site up and running at all times, we cannot guarantee uninterrupted access. We reserve the right to suspend, withdraw, or restrict availability partly or wholly due to business and operational needs. We will endeavour to notify you reasonably ahead of any such interruptions.
Your Contribution
We appreciate your cooperation in this endeavour. Please ensure that anyone accessing our site through your internet connection is informed about and complies with these terms of use and any other relevant terms and conditions.
Transfer of Rights
Please note that we may transfer our rights and obligations under these terms to another organization. Rest assured, in such events, we will notify you in writing, and the transfer will not affect your rights under this agreement.
MAINTAIN YOUR SECURITY
Protect Your Information
To ensure a secure experience, we ask you to use unique user identification codes and strong passwords as part of our security measures. Please keep this information confidential to protect both your security and the security of our platform.
Our Rights
We are committed to maintaining a safe environment for all users. If we reasonably believe that you have not complied with our terms of use, we reserve the right to disable your user identification code or password and terminate your funded account agreement at any moment.
In Case of Suspected Breach
Should you suspect that someone other than you has gained access to your user information, please notify us immediately. You can find our contact details above.
OWNERSHIP AND INTELLECTUAL PROPERTY RIGHTS
Our Ownership
Please be aware that we hold all intellectual property rights on our site, including all materials published on it, either as the owner or the licensee. These rights are protected globally by copyright laws and treaties.
Personal Use
You are permitted to print or download extracts of any page(s) from our site for personal use, and to share content within your organization. However, it is vital to always recognize our (and any notable contributors’) status as the content creators.
Restrictions
Modification of the materials you print or download is not allowed. The use of illustrations, photos, videos, audio, and any graphics separately from the accompanying text is also prohibited.
Commercial Use
Commercial use of our content without obtaining a licence from us or our licensors is strictly prohibited.
If you breach these terms, your right to use our site will end immediately, and you must either return or destroy any copied materials as per our request.
NO RELIANCE OR RESPONSIBILITY
General Information
The content available on our site is for general information purposes only and not intended as advice on which to base any decisions. Please seek professional or specialist advice before taking any action based on our site’s content. While we strive to keep the information updated, we cannot guarantee its accuracy, completeness, or currency.
Third-Party Links
Our site contains links to external third-party websites. These links are solely for your information and convenience. We do not approve or endorse the content of these third-party sites, and we hold no responsibility for their content. It’s essential to note that using these links will not imply any endorsement from us.
User-Generated Content
You might find content uploaded by other users on our site, including in bulletin boards and chat rooms. Please be informed that we do not verify or approve this content, and it does not reflect our views or values. If you find any content objectionable or inaccurate, feel free to reach out to us.
LIABILITY AND DAMAGES
General Liability
We operate within the bounds of the law, and we will not limit our liability where it would be against the law to do so. Specific limitations and exclusions may apply concerning the services we provide you; please reach out to us for more details.
For Business Users
If you are engaging with our site for business purposes, please note the following:
(1) We are not bound by any implied conditions, warranties, representations, or other terms regarding our site or the content within it.
(2) Our liability does not cover any loss or damage incurred through:
2.a. The use or inability to use our site
2.b. Reliance on the content displayed on our site
2.c. We are not responsible for any:
2.d. Loss of profits, sales, business, or revenue
2.e. Interruption to business operations
2.f. Loss of potential savings
2.g. Loss of business opportunities, goodwill, or reputation
2.h. Any indirect or consequential loss or damage
For Consumer Users
If you are using our site as a consumer, the following applies:
(1) Our site is designed for personal, non-commercial use. We bear no liability for losses relating to business, including profit loss, business interruption, or loss of business opportunities.
(2) If our digital content, provided without the necessary standard of care and skill, damages your device or digital content, we are willing to either:
2.a. Repair the damage
2.b. Offer compensation
However, we are not liable for damages that occur from not adhering to our instructions on updates or not following the installation instructions and system requirements we stipulate
CONTENT UPLOAD
Uploading to Our Platform
When utilizing a feature that enables you to upload content to our site or engage with other users, you must adhere to the established content standards detailed below.
Your Assurance
By uploading content, you affirm and guarantee to us and other site users that your contributions abide by these standards. Should you breach this warranty, you will be held accountable for any consequent loss or damage we incur, whether direct or indirect.
Content Confidentiality and Rights
Your uploaded content will be regarded as non-confidential and non-proprietary. Although you maintain ownership rights over your content, you grant us and other site users a limited license to use, store, copy, distribute, and share it with third parties.
Content Moderation
We reserve the right to:
(1) Disclose your identity to any individual claiming that the content you posted infringes upon their intellectual property or privacy rights.
(2) Remove any content that, in our judgment, fails to meet the above content standards or does not align with Fx Selects’ principles.
(3) Note that you are responsible for securing and backing up your content. Additionally, we prohibit the storage of terrorist content on our platform.
Rights to Your Content
By posting on our platform, you allow us and other users the privilege to utilize your content as described above.
SECURITY AND RESPONSIBLE USE
Security Precautions
While we endeavor to maintain a secure platform, we cannot guarantee immunity from bugs, viruses, trojans, or other harmful elements. It is your responsibility to ensure your IT setup, including software and hardware, is configured securely and protected by reliable antivirus software.
Prohibited Actions
You must refrain from:
(1) Misusing the site by introducing malicious or technologically harmful materials.
Attempting unauthorized access to our site, the server where it is hosted, or any connected servers, computers, and databases.
(2) Launching denial-of-service or distributed denial-of-service attacks on our site.
Breaching these rules not only terminates your right to use our site but also constitutes a criminal offence under the Computer Misuse Act 1990. We will report any such breaches to law enforcement agencies and collaborate with them, which may include sharing your identity.
Linking to Our Site
You are welcome to link to our homepage, but it must be done legally, ethically, and without harming our reputation or leveraging it unjustly. Your link should not imply endorsement or association where none exists, and it must not be established on websites you do not own.
(1) Do not frame our site on other platforms.
(2) Limit links to our home page only, avoiding deep links to other parts of the site.
(3) Note that we can revoke the permission to link to our site without notice.
For permissions beyond these guidelines, reach out to hello@fxselects.com.
MARKET OPINIONS OF OUR REPRESENTATIVES
We want to be clear that when our representatives share their viewpoints on future trends or the possible value of currencies, these are solely their personal opinions. They share these insights for educational and demonstration purposes without any assurance of accuracy. You won’t find the official stance of Fx Selects reflected in these personal viewpoints.
Fx Selects and “fxselects.com” do not take on any responsibility for any losses you might incur following actions or lack of actions you undertake based on these opinions. This includes, but is not limited to, decisions made from verbal discussions or online communications, as well as any issues arising from delayed or incorrect information or information left unsaid.
We encourage you to always steer your trading journey with personal discretion and sound judgment. Before making any trading decisions, reach out to a licensed financial advisor and undertake thorough research to guard against undesirable outcomes.
DISCLAIMER AND LIMITATION OF LIABILITY
Your Acknowledgment
By using our services, you agree to acknowledge that “fxselects.com”:
(1) Offer information for informational purposes only, not for trading.
(2) Gathers data from various domestic and global sources without guaranteeing its accuracy, timeliness, or completeness.
(3) Does not provide any solicitations, offers, or recommendations to buy or sell any securities or offer legal, tax, accounting, or investment advice.
Limitation of Our Liability
We establish that “fxselects.com” and its affiliates won’t be held responsible for:
(1) Any injuries, damages, or losses arising from the negligence of “fxselects.com” and its personnel, including but not limited to lost profits, punitive, incidental, or consequential damages.
(2) Issues arising from faults in your computer equipment or your usage of our service on such equipment.
(3) The content, availability, or accuracy of websites, products or services linked to our service and does not endorse them implicitly or explicitly.
No Warranties
We do not provide any warranties, be it express or implied, regarding the usage of links available on our website and do not guarantee the adequacy of other websites, services, or goods linked to our service.
Service Availability
Understand that “fxselects.com”:
(1) Cannot assure the uninterrupted availability of communication lines and media used to access the service.
(2) Reserves the right, along with third-party contributors, to restrict or prohibit access to their content or services at any time based on the Terms & Conditions.
No Liability for Service Issues
We shall not be liable, either directly or indirectly, for:
(1) Any inaccuracies, errors, or omissions in the service, including financial data and quotes.
(2) Delays or interruptions in the service transmission or any loss arising from such issues.
Your Representation
By agreeing to these Terms & Conditions, you affirm that:
(1) You have the legal authority to enter this agreement.
(2) You are above the age of 18.
(3) We encourage you to engage responsibly with our services, acknowledging the outlined limitations and your authority in agreeing to these terms and conditions.
INDEMNIFICATION
Your Agreement to Protect
You agree to protect, defend, and hold “fxselects.com” and its associates — including employees, agents, affiliates, and suppliers — harmless at your own expense against any claims or legal actions brought by a third party due to:
(1) Your use of the service or the use by anyone accessing the service through your computer or account.
(2) Any violation of the Terms & Conditions (T&C) by you or anyone using your account or computer.
(3) Infringements on third-party intellectual property rights, or any other rights, due to your use of the service or by anyone using your account or computer.
(4) Any unauthorized alterations, deletions, or insertions to the service made by you or anyone using your account or computer.
(5) Misrepresentation or violation of the representations and warranties made by you as per these terms.
(6) Failure to abide by agreements mentioned in these terms.
In such events, you agree to cover all costs, damages, and expenses — including reasonable attorneys’ fees — that arise from these claims or legal actions.
Our Right to Defend
“fxselects.com” retains the right to take over the exclusive defence and control of matters you are otherwise obliged to indemnify at its own cost. In this scenario, you must cooperate fully with “fxselects.com” in utilizing any available defences.
Your Obligation to Cover Legal Expenses
You agree to cover “fxselects.com” for reasonable attorney fees and other legal expenses that might arise from lawsuits brought against you under the T&C or any other terms of service on this site, including, but not limited to, your failure to indemnify “fxselects.com” according to these T&C.
By agreeing to this, you recognize your duty to indemnify “fxselects.com” and protect it from legal disputes that relate to your use of the service and violations of these terms.
TERMINATION OF USING OUR SITE
Termination by You
You reserve the right to terminate this T&C agreement at any time, with or without specifying the cause. Termination on your part can be achieved by discontinuing the use of the service and ensuring the deletion and destruction of all materials derived from the service.
Termination by “fxselects.com”
You acknowledge and agree that “fxselects.com” retains the unilateral right to terminate this T&C agreement or suspend your access to the services without prior notice and at any given moment, effective immediately. Such termination can be with or without cause. This T&C agreement will cease automatically without notice from “fxselects.com” should you fail to adhere to any terms outlined in this T&C.
Consequences of Termination
Following the termination of this agreement, either by you or “fxselects.com”, you are obligated to promptly delete and destroy all materials obtained through the service, including all copies of such materials, whether made under the terms of this agreement or otherwise.
“fxselects.com” will not bear any liability towards you or any third party for the consequences arising from the suspension or termination of the service, including any claims related to the termination or suspension of the service.
It is important to understand that termination is a serious action aimed at protecting the rights and obligations of both parties involved and should be enacted with a full understanding of the responsibilities and repercussions that it entails.
ENTIRE AGREEMENT
This Terms and Conditions (T&C) agreement, alongside any other terms and conditions of service stipulated on this website, including any amendments or modifications to it, represents the entire agreement between you and “fxselects.com,” governing your utilization of the service.
This agreement supersedes all previous agreements, discussions, representations, warranties, and understandings between you and “fxselects.com”. You also acknowledge that any other agreements between you and “fxselects.com” are superseded and of no force or effect.
Please note that your ongoing use of the service signifies your agreement to uphold and be bound by the updated or modified terms and conditions. It is recommended to regularly review the terms and conditions to ensure you are aware of any changes made to this agreement.
By engaging with the service, you are affirming your understanding of, and agreement to, the terms outlined in this T&C agreement, thus guiding the establishment and maintenance of a harmonious and legally aligned relationship between you and “www.fxselects.com.”
fxselects.com is owned and operated by Smith Capital Investments Ltd, a limited company registered in the England.
© 2023 Copyright Smith Capital Investments Ltd. All Rights Reserved.
Disclaimer
Smith Capital Investments Ltd does not undertake any regulated activities. Smith Capital Investments Ltd does not act as or conduct services as a broker. Smith Capital Investments Ltd is not a financial institution of any kind. It’s not a broker, and it does not market for any brokerage services. Smith Capital Investments Ltd does not act as or conduct services as a custodian. Purchases of programs should not be considered deposits. All program fees are used for operation costs including, but not limited to, staff, technology and other business-related expenses. Information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Risk Disclosure: The Services Provided On This Website Are Professional Skill-Assessment Services. The Outcome Of The Proposed Services Is Necessarily Determined By The Individual Professional Skill Level And Ability To Perform Under The Program Guidelines And Objectives As Elaborated For Each Service Separately. Clients Are Advised To Conclude A Thorough Study Of The Requirements Of The Funding Programs Before Signing Up For Any Of The Services.
All accounts operate within a simulated trading environment. These platforms mirror real trading activities, but they do not engage with genuine money or assets. Any earnings, profits, or losses experienced within this simulated trading environment do not translate to actual financial outcomes and cannot be claimed or actualized beyond this educational context.
Hypothetical performance Disclosure: Hypothetical Performance Results Have Many Limitations, Some Of Which Are Described Below. No Representation Is Being Made That Any Account Will Or Is Likely To Achieve Profits Or Losses Similar To Those Shown; In Fact, There Are Frequently Sharp Differences Between Hypothetical Performance Results And The Actual Results Subsequently Achieved By Any Particular Funding Program. One Of The Limitations Of Hypothetical Performance Results Is That They Are Generally Prepared With The Benefit Of Hindsight. In Addition, Hypothetical Trading Does Not Involve Financial Risk, And No Hypothetical Trading Record Can Completely Account For The Impact Of Financial Risk Of Actual Trading. For Example, The Ability To Withstand Losses Or To Adhere To A Particular Trading Program In Spite Of Trading Losses Are Material Points Which Can Also Adversely Affect Actual Trading Results. There Are Numerous Other Factors Related To The Markets In General Or To The Implementation Of Any Specific Trading Program Which Cannot Be Fully Accounted For In The Preparation Of Hypothetical Performance Results And All Which Can Adversely Affect Trading Results.