Terms of Service

1. Agreement to Terms

By accessing or using the Veltafi platform ("Service"), you agree to be bound by these Terms of Service ("Terms"). If you do not agree to these Terms, you may not use the Service. Veltafi reserves the right to modify these Terms at any time with reasonable notice. Continued use of the Service after modification constitutes acceptance of the revised Terms. These Terms are available in English; the English version is the authoritative version for all legal purposes.

2. Nature of the Service

Veltafi provides a simulated trading evaluation environment. No real capital is at risk. Users are evaluated on their ability to meet predefined performance targets within a simulated account. Veltafi is not a broker-dealer, investment advisor, portfolio manager, or financial institution. Veltafi does not solicit, accept, or manage client funds. All accounts are simulated performance evaluations only. Veltafi is not regulated by the Autorité des marchés financiers (AMF), the Canadian Investment Regulatory Organization (CIRO), or any provincial or federal securities regulator, as its services do not constitute securities, derivatives, or investment advisory activities.

3. Evaluation Rules

• Starting simulated balance: $100,000 USD
• Profit target: 6% ($106,000)
• End-of-day trailing drawdown: 3% ($3,000) — calculated at market close only
• Daily loss limit: $1,500 per trading session
• Minimum trading days: 5
• Maximum contracts: 5 ES/NQ (standard), 20 MES/MNQ (micro)
• Permitted instruments: ES, NQ, MES, MNQ (CME Group futures)
• No time limit on evaluation
• Consistency rule (funded accounts only): no single trade or trading day may account for more than 60% of total net profit at the time of a payout request
• Account reset available for $49 after failure

A complete and detailed description of all rules, drawdown mechanics, and prohibited activities is available on the Rules & Prohibited Activities page (veltafi.com/rules). Veltafi reserves the right to modify evaluation rules with reasonable notice. Rule changes will not apply retroactively to active evaluations unless required by law.

4. Fees and Payments

The evaluation fee is a one-time, non-refundable payment of $99 USD. Accepted payment methods include: USDC (Polygon network), PayPal, and Interac e-Transfer (for Canadian residents). By purchasing an evaluation, you acknowledge that: (a) the fee covers access to the simulated evaluation environment; (b) the fee is non-refundable regardless of evaluation outcome, including account failure; (c) for USDC payments, you are solely responsible for ensuring the correct wallet address and network when sending payment; (d) Veltafi is not responsible for funds sent to incorrect addresses or on unsupported networks; (e) account reset fees ($49) are also non-refundable; (f) your account will be activated after payment is verified by our team, typically within 15 minutes during business hours.

5. Funded Accounts & Payouts

Traders who pass the evaluation phase may be eligible for a funded account under a separate independent contractor agreement. Funded account payouts represent performance-based compensation for demonstrated trading skill, not returns on investment. Payouts are subject to: (a) successful completion of KYC identity verification; (b) minimum 10 trading days on the funded account before first payout; (c) minimum payout amount of $250; (d) compliance with all evaluation and funded account rules, including the consistency rule (no single trade or trading day may account for more than 60% of total net profit on funded accounts); (e) the trader being an independent contractor solely responsible for their own tax obligations. Payouts are processed in USDC to the trader's designated ERC-20 wallet address within 1-3 business days. Veltafi reserves the right to deny, delay, or claw back payouts if there is evidence of rule violations, prohibited conduct, manipulation, identity fraud, or suspicious activity.

6. Prohibited Conduct

• Exploiting platform bugs, latency arbitrage, stale prices, or data feed errors
• Using automated high-frequency trading bots designed to exploit the simulated execution environment
• Account sharing, credential sharing, or transferring access to another person
• Coordinated trading across multiple Veltafi accounts (cross-account hedging)
• Market manipulation including wash trading, spoofing, or layering
• Providing false or stolen identity information during KYC verification
• Reverse engineering, decompiling, or scraping any part of the platform
• Trading from OFAC-sanctioned jurisdictions (Cuba, Iran, North Korea, Syria, Russia, Belarus)
• Circumventing or attempting to bypass risk management controls
• News trading exploitation — repeatedly gambling on high-impact economic releases as a primary strategy
• Using external signal/copy trading services across multiple Veltafi accounts to produce correlated trades
• Weekend gap gambling — repeated reliance on weekend gap moves as a primary profit source
• Any form of fraud, deception, or abusive behavior

A comprehensive description of all prohibited activities and enforcement penalties is published at veltafi.com/rules. That document is incorporated by reference into these Terms.

7. Account Termination

Veltafi may suspend or terminate your account at any time, with or without notice, if you violate these Terms or engage in prohibited conduct. In the event of termination for cause: (a) no refund of evaluation fees will be provided; (b) any pending or unreleased payouts may be forfeited; (c) you may be permanently banned from creating new accounts. Veltafi's determination of rule violations is final and made at its sole discretion. Appeals may be submitted to compliance@veltafi.com within 14 days of the action.

8. Anti-Money Laundering (AML) & KYC

In compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), FINTRAC regulations, and international AML/CTF standards, all users must complete Know Your Customer (KYC) identity verification before any payout can be processed. Veltafi reserves the right to: (a) request additional identity documentation at any time; (b) withhold payouts pending verification; (c) report suspicious transactions to FINTRAC, FinCEN, or other relevant authorities; (d) terminate accounts where false identity information is detected; (e) refuse service to individuals residing in OFAC-sanctioned jurisdictions or appearing on international sanctions lists. Veltafi maintains records of all transactions and identity verifications as required by Canadian law.

9. Intellectual Property

All content, code, design, trademarks, and proprietary technology comprising the Veltafi platform are the exclusive property of Veltafi. You may not reproduce, distribute, modify, reverse engineer, or create derivative works based on any part of the Service without prior written consent.

10. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, INCLUDING THE LAWS OF THE PROVINCE OF QUEBEC: (a) Veltafi is not liable for any indirect, incidental, special, consequential, or punitive damages arising from or related to the use of the Service; (b) The Service is provided "as is" and "as available" without warranties of any kind, express or implied; (c) Veltafi's total aggregate liability shall not exceed the amount actually paid by you for the evaluation giving rise to the claim; (d) Veltafi is not liable for losses arising from platform downtime, data feed interruptions, execution delays, or market data inaccuracies; (e) You acknowledge that simulated trading results may differ materially from live trading results.

11. Indemnification

You agree to indemnify, defend, and hold harmless Veltafi, its officers, directors, employees, and agents from any claims, damages, losses, or expenses (including reasonable legal fees) arising from: (a) your use of the Service; (b) your violation of these Terms; (c) your violation of any applicable law or regulation; (d) any false or misleading information you provide.

12. Dispute Resolution & Arbitration

Any dispute arising from or relating to these Terms or the Service shall first be submitted to good-faith negotiation between the parties for a period of 30 days. If the dispute remains unresolved, it shall be finally settled by binding arbitration administered by the Canadian Arbitration Association (CAA) in accordance with its rules, conducted in Montreal, Quebec, Canada, in the English language. The arbitrator's award shall be final and binding and may be entered as a judgment in any court of competent jurisdiction. Each party shall bear its own costs of arbitration unless the arbitrator determines otherwise. Class action lawsuits and class-wide arbitration are waived to the extent permitted by applicable law.

13. Force Majeure

Neither party shall be liable for failure or delay in performing its obligations under these Terms due to circumstances beyond its reasonable control, including but not limited to: natural disasters, acts of war or terrorism, government actions, pandemics, internet or telecommunications failures, exchange outages (including CME Group), data feed interruptions (including Databento), cyberattacks, power failures, or third-party service provider outages (including Supabase, Vercel, or payment processors). In the event of a force majeure lasting more than 30 consecutive days, either party may terminate the relationship without liability.

14. Governing Law & Jurisdiction

These Terms shall be governed by and construed in accordance with the laws of the Province of Quebec and the federal laws of Canada applicable therein, without regard to conflict of law principles. Veltafi is operated from Montreal, Quebec, Canada. Veltafi does not engage in broker-dealer activities, securities trading, derivatives dealing, or the management of client funds, and therefore is not subject to regulation by the AMF, CIRO, or any provincial or federal securities commission.

15. Severability

If any provision of these Terms is found to be invalid or unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect. The invalid provision shall be modified to the minimum extent necessary to make it valid and enforceable.

16. Contact

For questions about these Terms, contact us at legal@veltafi.com. For compliance inquiries: compliance@veltafi.com. For general support: support@veltafi.com.