These General Terms and Conditions (the "Terms") govern the rights and obligations between Cleared Capital (Pty) Ltd, a company duly registered in the Republic of South Africa with registration number [NUMBER] ("Cleared Capital", "we", "us", "our", "the Provider"), and any natural or legal person who accesses our website, registers for an account, purchases our services, or otherwise uses our platform ("you", "the Customer", "the Participant").
By registering on our website, purchasing any service, or otherwise using our platform, you confirm you have read, understood, and accepted these Terms in full. If you do not accept these Terms, you must not use our services.
01Nature of our service
1.1 Cleared Capital is a trader competency assessment and education platform. We provide:
- (a) Access to a simulated trading environment using virtual currency only ("Simulated Account");
- (b) Skills-based assessment programs designed to evaluate trading competency ("Challenge");
- (c) Educational resources, analytics, and performance dashboards.
1.2 The fee paid to Cleared Capital is the purchase price of access to the Simulated Account and the educational and assessment services described above. The fee is NOT a deposit, investment, capital contribution, or refundable security.
1.3 All trading on our platform is simulated. The Simulated Account uses virtual currency exclusively. No real funds are traded, held, deposited, withdrawn, or placed in any real financial market by Cleared Capital on behalf of any Customer.
1.4 Cleared Capital is NOT:
- (a) a financial services provider as defined in the Financial Advisory and Intermediary Services Act 37 of 2002 ("FAIS Act");
- (b) authorised, registered, or licensed by the Financial Sector Conduct Authority ("FSCA");
- (c) a bank, deposit-taking institution, or authorised dealer in foreign exchange;
- (d) a broker, dealer, investment manager, or asset manager;
- (e) a provider of financial advice, investment advice, or portfolio management services.
1.5 Nothing on our platform constitutes a recommendation, solicitation, or invitation to engage in any real-world financial transaction. No content provided by Cleared Capital should be construed as financial advice. You are solely responsible for any decisions you make in your personal capacity.
02Performance rewards
2.1 Customers who successfully complete all phases of a Challenge in accordance with the published Challenge Rules may become eligible to receive a discretionary monetary reward from Cleared Capital, calculated as a percentage of the simulated profit generated on continued Simulated Account activity ("Performance Reward").
2.2 The Performance Reward is paid as compensation for services rendered, namely the demonstration of trading skill on the Simulated Account. The Performance Reward is NOT an investment return, profit distribution, dividend, interest payment, or income from real trading.
2.3 Eligibility for a Performance Reward is conditional upon, and subject to, the Customer:
- (a) successfully completing all Challenge phases in accordance with the Challenge Rules;
- (b) complying continuously with these Terms and the Challenge Rules;
- (c) successfully completing identity and bank account verification to our satisfaction;
- (d) not engaging in any Forbidden Trading Practice (clause 6);
- (e) meeting any other condition published from time to time.
2.4 Cleared Capital reserves the absolute right to:
- (a) verify the legitimacy of any Performance Reward request;
- (b) review the full trading history of any account before approval;
- (c) refuse, reduce, withhold, or delay any Performance Reward where there is reasonable suspicion of any breach of these Terms, the Challenge Rules, or any Forbidden Trading Practice;
- (d) determine in its sole discretion whether any Performance Reward is payable;
- (e) determine the timing and method of payment of any approved Performance Reward.
2.5 No Customer has any contractual right to any specific Performance Reward amount. Past Performance Rewards paid to any Customer do not create any expectation, obligation, or entitlement to future Performance Rewards.
2.6 Cleared Capital is not obligated to provide reasons for any decision relating to Performance Reward eligibility, calculation, or payment.
03Eligibility and registration
3.1 To use our services, you must:
- (a) be at least 18 years of age;
- (b) have full legal capacity to enter into binding agreements;
- (c) not be a resident of, or located in, any jurisdiction on our Restricted Jurisdictions list (published and updated on our website);
- (d) not be a politically exposed person, subject to sanctions, or listed on any anti-terrorism, anti-money-laundering, or financial crime watchlist;
- (e) provide accurate, complete, and current information at all times.
3.2 You may hold a maximum of five (5) Simulated Accounts at any one time. Operating, controlling, or being beneficially interested in additional accounts (whether under your name or another) is strictly prohibited.
3.3 Cleared Capital reserves the right, in its sole and absolute discretion, to:
- (a) refuse registration to any applicant;
- (b) decline to provide services to any person;
- (c) suspend or terminate any account at any time, with or without cause and with or without notice;
- (d) require additional verification, documentation, or information at any time.
3.4 Registration is personal to you. You may not transfer, assign, sell, or share your account with any third party. Sharing of account credentials is strictly prohibited and is grounds for immediate termination.
04Fees and payment
4.1 The fee for each Challenge is published on our website at the time of purchase. All fees are stated in South African Rand (ZAR) inclusive of any applicable taxes.
4.2 Payment is processed by approved third-party payment processors. By submitting payment, you authorise the charge of the published fee.
4.3 Cleared Capital reserves the right to amend Challenge fees at any time. Amended fees do not apply retrospectively to Challenges already purchased.
4.4 No refund is payable except as expressly set out in our Refund Policy (incorporated by reference) or as required by mandatory provisions of South African law.
4.5 You are solely responsible for any taxes, duties, or levies imposed on Performance Rewards or any other payments received from Cleared Capital. You agree to indemnify Cleared Capital against any claim, demand, or liability arising from your failure to comply with your tax obligations.
05Challenge rules
5.1 The specific operational rules of each Challenge — including profit targets, daily loss limits, maximum drawdown limits, minimum trading days, consistency rules, time limits (or absence thereof), permitted instruments, and any other parameters — are published on our website and may be updated from time to time.
5.2 The Challenge Rules in force at the time you purchase a Challenge apply to that specific Challenge. Cleared Capital reserves the right to update Challenge Rules for future Challenges at any time without notice.
5.3 Breach of any Challenge Rule, including (without limitation) exceeding the daily loss limit, exceeding the maximum drawdown, or violation of the consistency requirement, results in:
- (a) immediate termination of the Simulated Account;
- (b) forfeiture of all simulated progress;
- (c) forfeiture of any pending Performance Reward;
- (d) no refund of the Challenge fee.
5.4 Cleared Capital is not obligated to warn, notify, or otherwise intervene before a Challenge Rule breach occurs. Monitoring of your account performance is your sole responsibility.
06Forbidden trading practices
6.1 The following practices are strictly prohibited (the "Forbidden Trading Practices"):
- (a) using any automated trading system, expert advisor, algorithm, artificial intelligence tool, high-frequency trading system, trade copier, or signal service that has not been expressly approved in writing by Cleared Capital;
- (b) latency arbitrage, server-side arbitrage, or any exploitation of pricing delays, quote errors, platform glitches, or infrastructure inefficiencies;
- (c) hedging positions across multiple accounts (whether your own accounts or those of any other Customer), or any form of coordinated trading designed to exploit the simulated environment;
- (d) gap trading during major economic news releases, market open/close periods, or any period of abnormal market conditions where the trade is structured to exploit simulated execution rather than demonstrate genuine trading skill;
- (e) trading techniques that contradict how trading is genuinely performed under real market conditions, including trades that would not realistically be executable on a real broker account;
- (f) operating multiple accounts (whether registered to you or to any third party acting in concert with you) to gain an unfair advantage;
- (g) sharing strategies, accounts, signals, or trading instructions with other Customers in a coordinated manner;
- (h) any form of fraud, deception, identity misrepresentation, or provision of false information;
- (i) any conduct that, in Cleared Capital's sole opinion, contradicts the principles of genuine skill-based assessment or constitutes an abuse of the simulated environment.
6.2 If Cleared Capital determines, in its sole discretion, that a Customer has engaged or attempted to engage in any Forbidden Trading Practice, Cleared Capital may:
- (a) treat the conduct as a failure of the Challenge regardless of any apparent simulated profit;
- (b) remove the offending transactions from the trading history and disregard their results in any profit or loss calculation;
- (c) immediately terminate all Services to the Customer, including access to all Simulated Accounts, the Client Portal, and trading infrastructure;
- (d) refuse any pending Performance Reward request;
- (e) reduce the leverage on any or all of the Customer's accounts;
- (f) permanently ban the Customer from future Cleared Capital services;
- (g) take any combination of the above measures.
6.3 If any of the Forbidden Trading Practices are detected on one or more of a Customer's accounts (whether Challenge or Funded), or across accounts of multiple Customers acting in concert, Cleared Capital is entitled to cancel all Services and terminate all contracts relating to all such accounts, with no refund or Performance Reward payable.
6.4 If a Customer engages in any Forbidden Trading Practice repeatedly after a prior notification, Cleared Capital may permanently prevent the Customer from accessing all Services and ban the Customer from any future use of the Cleared Capital platform, with no refund or compensation payable.
6.5 The determination of whether any conduct constitutes a Forbidden Trading Practice rests solely with Cleared Capital. Cleared Capital is not obligated to provide reasons for its determination, although it may do so at its discretion.
07Intellectual property
7.1 All content, software, platforms, dashboards, educational materials, trade marks, logos, branding, and proprietary information made available through Cleared Capital ("Cleared Capital Content") is the exclusive property of Cleared Capital or its licensors.
7.2 You are granted a limited, revocable, non-exclusive, non-transferable, non-sublicensable licence to access and use the Cleared Capital Content solely for your personal participation in the Challenge and for no other purpose.
7.3 You may not:
- (a) reproduce, distribute, publish, display, or commercially exploit Cleared Capital Content;
- (b) reverse engineer, decompile, or attempt to derive the source code of any Cleared Capital software or platform;
- (c) remove or alter any proprietary notices or marks;
- (d) use Cleared Capital Content to develop a competing product or service.
7.4 All data generated on the Simulated Account, including trade history, performance metrics, and analytical outputs, is the proprietary data of Cleared Capital.
08No warranties
8.1 The Cleared Capital platform and all related services are provided "AS IS" and "AS AVAILABLE", without any warranty of any kind, whether express, implied, or statutory, except where such warranties cannot be excluded under mandatory South African law.
8.2 Without limiting the generality of clause 8.1, Cleared Capital makes no warranty that:
- (a) the platform will be uninterrupted, timely, secure, or error-free;
- (b) any specific trade, simulated outcome, or Performance Reward will be achieved;
- (c) pricing, quotes, or data displayed on the platform are accurate, complete, or free from technical error;
- (d) the platform will be compatible with any specific device, browser, or operating system.
09Limitation of liability
9.1 To the maximum extent permitted by applicable law, Cleared Capital's total aggregate liability to any Customer, arising under or in connection with these Terms, is limited to the amount of fees paid by that Customer to Cleared Capital in the twelve (12) months preceding the event giving rise to the claim.
9.2 In no event shall Cleared Capital be liable for any:
- (a) indirect, incidental, consequential, special, exemplary, or punitive damages;
- (b) loss of profit (whether simulated or otherwise), loss of opportunity, loss of data, or loss of goodwill;
- (c) damages arising from platform downtime, latency, technical failure, third-party infrastructure failure, or any cause beyond Cleared Capital's reasonable control;
- (d) damages arising from inaccurate pricing, quote errors, or data feed inconsistencies;
- (e) damages arising from the actions or omissions of any third-party service provider, including payment processors, trading infrastructure providers, banks, or internet service providers;
- (f) damages arising from your reliance on any information, tool, or output provided through the platform.
9.3 Nothing in these Terms operates to exclude or limit liability for:
- (a) fraud or fraudulent misrepresentation;
- (b) death or personal injury caused by gross negligence;
- (c) any other liability that cannot lawfully be excluded under South African law.
10Indemnity
10.1 You agree to indemnify, defend, and hold harmless Cleared Capital, its directors, officers, employees, contractors, agents, and affiliates from any claim, demand, liability, loss, damage, cost, or expense (including reasonable legal fees) arising out of or in connection with:
- (a) your breach of these Terms or any Challenge Rules;
- (b) your engagement in any Forbidden Trading Practice;
- (c) your provision of false, misleading, or inaccurate information;
- (d) your failure to comply with applicable tax laws;
- (e) any third-party claim arising from your use of the platform.
11Suspension and termination
11.1 Cleared Capital may, at its sole discretion and at any time, without prior notice and without liability:
- (a) suspend, restrict, or terminate your access to the platform;
- (b) close any or all of your Simulated Accounts;
- (c) refuse to enter into any further Challenge agreement with you;
- (d) decline to process any pending Performance Reward request.
11.2 The grounds upon which Cleared Capital may exercise its rights under clause 11.1 include (without limitation):
- (a) breach or suspected breach of these Terms;
- (b) breach or suspected breach of any Challenge Rule;
- (c) engagement or suspected engagement in any Forbidden Trading Practice;
- (d) provision of false, incomplete, or misleading information;
- (e) failure to complete identity verification to our satisfaction;
- (f) any legal, regulatory, or compliance reason;
- (g) any conduct that, in our reasonable opinion, brings or may bring Cleared Capital into disrepute;
- (h) discontinuation of any service for commercial reasons.
11.3 Termination does not entitle you to a refund of any fees already paid, except as expressly provided in our Refund Policy or as required by mandatory law.
12Amendments
12.1 Cleared Capital may amend these Terms at any time. Material amendments will be notified by email to registered Customers and published on our website.
12.2 Continued use of our services after the effective date of an amendment constitutes your acceptance of the amended Terms.
12.3 If you do not accept an amendment, your sole remedy is to cease using our services and request termination of your account.
13Anti-money laundering and compliance
13.1 Cleared Capital is committed to compliance with the Financial Intelligence Centre Act 38 of 2001 ("FICA"), the Prevention of Organised Crime Act 121 of 1998, and all applicable anti-money laundering and counter-terrorism financing legislation.
13.2 You acknowledge that Cleared Capital may:
- (a) require identification, verification, and source-of-funds documentation at any time;
- (b) report any suspicious activity to the Financial Intelligence Centre or other competent authorities;
- (c) freeze, suspend, or terminate any account where required by law or where reasonable suspicion exists;
- (d) cooperate fully with law enforcement, regulators, and the Financial Intelligence Centre.
13.3 You confirm that any funds used to pay Cleared Capital are lawfully obtained and not the proceeds of any unlawful activity.
14Governing law and jurisdiction
14.1 These Terms are governed by and construed in accordance with the laws of the Republic of South Africa.
14.2 Any dispute arising out of or in connection with these Terms shall be referred to and finally resolved by arbitration under the rules of the Arbitration Foundation of Southern Africa ("AFSA"). The seat of arbitration shall be Johannesburg. The arbitration shall be conducted in English by a single arbitrator agreed by the parties, failing which appointed by AFSA.
14.3 Nothing in this clause prevents Cleared Capital from seeking urgent interim or injunctive relief in any court of competent jurisdiction.
14.4 Any cause of action you may have arising out of or relating to these Terms must be commenced within one (1) year after the cause of action accrues, failing which it will be permanently barred.
15General
15.1 If any provision of these Terms is held to be invalid, illegal, or unenforceable, that provision shall be severed and the remaining provisions shall continue in full force.
15.2 No failure or delay by Cleared Capital to exercise any right or remedy constitutes a waiver of that right or remedy.
15.3 These Terms (together with the Risk Disclosure Statement, Privacy Policy, Refund Policy, and any Challenge Rules in force) constitute the entire agreement between you and Cleared Capital, superseding all prior agreements, representations, or understandings.
15.4 No third party has any rights to enforce these Terms.
15.5 Cleared Capital may assign, transfer, or sub-contract any of its rights or obligations under these Terms at its discretion. You may not assign or transfer your rights or obligations without our prior written consent.
16Contact
Cleared Capital (Pty) Ltd
- Registered office: [ADDRESS]
- Company registration number: [NUMBER]
- Email: legal@clearedcapital.com