Version March 2026
These AIFO General Terms and Conditions (the “GTC”) govern rights and obligations in connection with the use of services provided by Finmedia Limited (the “Services”), offered mainly through the www.aifo.com website (the “Website”). Please read these GTC carefully. You are under no obligation to use the Services if you do not agree or understand any portion of these Terms, nor should you use the Services unless you understand and agree to these Terms.
1.1. These GTC govern your (“you”, “your”, or the “Customer”) rights and obligations in connection with the use of the Services provided by Finmedia Limited, with its registered office at Room 4, 15/F, Sunwise Industrial Building, 16-26 Wang Wo Tsai Street, Tsuen Wan, Hong Kong, identification no.: 77948116, registered in Hong Kong (“we”, “our”, or the “Provider”).
1.2. By registering on the Website or, where registration is not required, not later than by your first use of the Services, you are entering into a contract with the Provider, the subject of which is the provision of the Services of your choice. The GTC form an integral part of such a contract and, by executing the contract with the Provider, you express your agreement to these GTC.
1.3. The Services are only intended for persons over the age of 18 residing in the country for which the Services are available. By registering on the Website, you confirm that you are over 18 years of age. If you are under 18 years of age, you may not use the Services.
1.4. The Provider shall not provide Services to Customer that: (i) is of nationality or is residing in Restricted Jurisdictions; (ii) is established or incorporated, or has a registered office in Restricted Jurisdictions; (iii) is subject to the relevant international sanctions; or (iv) has a criminal record related to financial crime or terrorism.
1.5. The Services consist of the provision of tools for simulated foreign exchange trading on the FOREX market or simulated trading with other instruments on other financial markets, provision of analytical tools, training and educational materials, the access to the Client Section, and other ancillary services.
1.6. NONE OF THE SERVICES PROVIDED TO YOU BY THE PROVIDER CAN BE CONSIDERED INVESTMENT SERVICES IN ACCORDANCE WITH APPLICABLE LAWS. THE PROVIDER DOES NOT GIVE OR PROVIDE TO YOU ANY GUIDANCE, INSTRUCTIONS, OR INFORMATION ABOUT HOW OR IN WHICH MANNER YOU SHOULD PERFORM TRANSACTIONS WHEN USING THE SERVICES OR OTHERWISE, OR ANY OTHER SIMILAR INFORMATION ABOUT THE INVESTMENT TOOLS TRADED, NOR DOES THE PROVIDER ACCEPT ANY SUCH GUIDANCE, INSTRUCTIONS, OR INFORMATION FROM YOU. NONE OF THE SERVICES CONSTITUTE INVESTMENT ADVICE OR RECOMMENDATIONS. NO EMPLOYEES, STAFF, OR REPRESENTATIVES OF THE PROVIDER ARE AUTHORIZED TO PROVIDE INVESTMENT ADVICE OR RECOMMENDATIONS. SHOULD ANY INFORMATION OR STATEMENT OF ANY EMPLOYEE, STAFF, OR REPRESENTATIVES OF THE PROVIDER BE INTERPRETED AS INVESTMENT ADVICE OR RECOMMENDATIONS, THE PROVIDER EXPLICITLY DISCLAIMS THAT THE SAME IS INVESTMENT ADVICE OR RECOMMENDATIONS AND SHALL NOT BE RESPONSIBLE FOR THEM.
1.7. Your personal data is processed in accordance with the Privacy Policy.
1.8. The meaning of the definitions, expressions, and abbreviations used in these GTC can be found in Clause 18.
1.9. By registering on the Website and/or activating any AIFO Challenge, the Customer acknowledges and confirms that: (i) the Services are of a simulated nature as described in Clause 1.5, and all trading performed through the Services is not real and does not constitute actual financial market transactions, notwithstanding that real-time or near-real-time financial market data may be used as reference pricing; (ii) all funds allocated to the Customer's demo account are fictitious as described in Clause 1.5, do not represent actual money, confer no proprietary or legal interest on the Customer, and may not be withdrawn, transferred or applied to any actual trading under any circumstances; (iii) the Services do not constitute investment services, financial advice, portfolio management, or any other regulated activity under any applicable law, and no part of the Services should be relied upon as such, in accordance with Clause 1.6; (iv) the Customer has not relied upon any representation or statement made by the Provider or any of its employees, staff or representatives — other than those expressly set out in these GTC — in deciding to register for or use the Services, and any such statement, if made, is expressly disclaimed in accordance with Clause 1.6; and (v) the Customer is using the Services entirely at the Customer's own risk, and possesses sufficient knowledge, experience and sophistication to independently evaluate the nature purpose and risks of the Services. THE CUSTOMER ACKNOWLEDGES THAT THIS CLAUSE 1.9 FORMS AN ESSENTIAL BASIS OF THE CONTRACT BETWEEN THE CUSTOMER AND THE PROVIDER, WITHOUT WHICH THE PROVIDER WOULD NOT HAVE AGREED TO PROVIDE THE SERVICES. THE CUSTOMER'S CONFIRMATIONS UNDER THIS CLAUSE 1.9 SHALL BE DEEMED REPEATED EACH TIME THE CUSTOMER ACCESSES OR USES THE SERVICES.
2.1. You can order the Services through the Website by completing the appropriate registration or order form. After registration, we will e-mail you the login details for the Client Section and/or Trading Platform and allow you to access them.
2.2. The Services include, among other things, the following products (a) the Free Trial: a complimentary, limited access to certain features of the Services for a defined period, the scope and duration of which are published on the Website. Completing the Free Trial does not entitle the Customer to access any paid Services, Verification, or the AIFO Trader Programme; (b) AIFO Evaluation Challenge: a multi-stage simulated trading evaluation programme, the parameters, conditions and fee options for which are set out in Clauses 6.1–6.4 and on the Website; and (c) Instant Challenge: a single-stage simulated trading evaluation programme, the parameters, conditions and fee options for which are set out in Clauses 6.5–6.6 and on the Website; these products may differ in the scope of the Services provided (e.g., by analytical tools available to the Customer).
2.3. All data that you provide to us through the registration or order form, the Client Section, or otherwise must be complete, true, and up to date. You must immediately notify us of any change in your data or update the data in your Client Section. The Customer is responsible for all the provided data being accurate and up to date; the Provider is not obligated to verify the accuracy of any data provided and shall bear no liability for any consequences arising from inaccurate or outdated data submitted by the Customer. The provision of false, inaccurate, or materially incomplete data shall constitute a material breach of these GTC and may result in the immediate suspension or termination of the Customer’s account and all Services in accordance with Clause 10.1, without any entitlement to a refund of fees paid.
2.4. You acknowledge that if you provide an identification number, tax registration number or other similar information indicating that you are acting in a professional or commercial capacity, in the registration or order form or in the Client Section, or if you state that you are a legal entity, you will be considered as an entrepreneur (trader) for the purposes of these GTC and when using the Services, and the provisions of these GTC or the applicable law that grant rights to consumers will not apply to you. By submitting such information or making such a statement, you confirm that you have reached this determination independently and without reliance on any statement by the Provider. For the avoidance of doubt, the Provider is not obliged to verify the accuracy of any such information, and you shall be solely responsible for the accuracy of your classification as an entrepreneur (trader).
2.5. The fee for the AIFO Challenge varies according to the option selected and depends on the amount of the initial capital, the degree of the acceptable risk, the parameters that must be fulfilled so that the conditions of the AIFO Challenge and the subsequent Verification are met, and possibly other configurations. More detailed information on individual options and fees for those options are provided on our Website. The final fee will be determined based on the option you select when completing the form for ordering the AIFO Challenge. The Provider reserves the right to also provide the Services under individually agreed conditions. All individually agreed conditions shall be determined by the Provider at its own discretion. Individual discounts and other benefits may not be combined, unless expressly stipulated otherwise by the Provider. The applicable fee for the Customer’s selected option (the “Fee”) shall be confirmed to the Customer in the order confirmation issued pursuant to Clause 2.10. Once an order has been confirmed and the Fee paid, the Fee applicable to that specific order shall not be subject to change except as provided in Clause 2.9. All Fees are stated in USD unless otherwise indicated and are inclusive of any applicable taxes as provided in Clause 3.2.
2.6. The Fee is paid for allowing you to access the AIFO Challenge, or the Services provided under the AIFO Challenge. The Customer is not entitled to a refund of the Fee, for example, if the Customer cancels the Customer’s Client Section or requests the cancellation by e-mail, if the Customer terminates the use of the Services or the contract (for example, fails to complete the AIFO Challenge or the Verification), fails to meet the conditions of the AIFO Challenge or the Verification, or violates these GTC.
2.7. If the Customer lodges an unjustifiable complaint regarding the paid fee or disputes the paid fee with the Customer’s bank or payment service provider (e.g. through chargeback services, dispute services, or other similar services), without first contacting the Provider at support@aifo.com and allowing not less than 14 calendar days for resolution, on the basis of which an annulment, cancellation or refund of the Fee or any part thereof is requested, the Provider is entitled, at its own discretion, to stop providing to the Customer any services and refuse any future provision of any services; and/or to recover from the Customer all Chargeback Costs incurred in connection with such dispute, which shall constitute a debt immediately due and payable.
2.8. Your choice of the option of the AIFO Challenge that you select when making an order shall also apply to the subsequent Verification. You will start the subsequent Verification and, possibly, other products related thereto, with the parameters and the same currency that correspond to the option of the AIFO Challenge selected by you. Once you make a selection, it is not possible to change it. If you are ordering a new AIFO Challenge, the restrictions specified in this Clause 2.8 shall not apply.
2.9. The Provider reserves the right to unilaterally change the fees and parameters of the Services at any time, including the parameters for their successful completion. Any such change shall apply to new orders placed after the date the change is published on the Website. In respect of Services already purchased and activated by the Customer prior to the effective date of such change, the parameters and fees applicable at the time of purchase shall continue to apply until the conclusion of that specific AIFO Challenge or Verification cycle, provided that: (a) where a change is required to comply with applicable law, regulation or order of a governmental or regulatory authority, it shall take effect immediately upon notification to the Customer via the Client Section or e-mail; and (b) where a change is solely to the benefit of the Customer, it may take effect upon such notification. The Provider shall notify the Customer of any parameter changes affecting active Services via the Client Section or e-mail within 3 business days of such change taking effect.
2.10. Any data entered in the order form can be checked, corrected, and amended until the binding order of the Services. The order of the Services of your choice is made by submitting the order form. The Provider will immediately confirm the receipt of your order to your e-mail address. In the case of the Free Trial, the order is completed upon the delivery of the confirmation to your e-mail address, whereby the contract is executed. In the case of the AIFO Challenge, the order is completed upon the payment of the Fee for the selected option (more on this in Clause 3.4), whereby the contract between you and the Provider is executed, the subject of which is the provision of the AIFO Challenge and, if the conditions of the AIFO Challenge are met, the Verification. The contract is concluded in English. We archive the contract in electronic form. Customers may request a copy of their contract at any time by contacting us at support@aifo.com.
2.11. You acknowledge that in order to use our Services, you must obtain the appropriate technical equipment and software, including third-party software (e.g., software for the use of the Trading Platform), at your own risk and expense. The Website is accessible from the most commonly used web browsers. The internet access, purchase of the equipment, and purchase of the web browser and its updates are at your own risk and expense. The Provider does not warrant or guarantee that the Services will be compatible with any specific equipment or software. The Provider does not charge any additional fees for the internet connection.
2.12. You acknowledge that the operators of trading platforms are persons or entities different from the Provider and that their own terms and conditions and privacy policies will apply when you use their services and products. Before sending an order form, you are obligated to read those terms and conditions and privacy policies.
2.13. Provisions relating to abnormal or excessive order behaviour and its treatment as a Forbidden Trading Practice are set out in Clause 5.4.4.
3.1. The amounts of fees for the AIFO Challenge options are in USD. The fees may also be paid in other currencies that are listed on the Website. If you select any other currency than the USD, the amount of the fee for the selected option of the AIFO Challenge shall be converted by our rates and it will automatically display your payment total in your chosen currency, so you know how much you are paying before you confirm the order. The Customer acknowledges that if the payment is made in a currency other than the one the Customer has chosen on the Website, the amount will be converted according to the prevailing exchange rates at the time of payment.
3.2. Service charges are inclusive of all taxes. If the Customer is an entrepreneur (trader), he is obliged to fulfil all his tax obligations in connection with the use of our Services in accordance with applicable law, and in the event an obligation exists, he is obliged to pay tax or other fees properly to the relevant authority.
3.3. You may pay the Fee for the selected option of the AIFO Challenge by a payment card, via a bank transfer, or using other means of payment that the Provider currently offers on the Website.
3.4. In the event of payment by a payment card or via any other express payment method, the payment shall be made immediately. If you select a bank transfer for payment, we will subsequently send you a pro-forma invoice in electronic form ("e-invoice") stating the amount payable for the option of the AIFO Challenge you have chosen on the Website. You undertake to pay the amount within the period specified in the e-invoice. The Fee is considered paid when its full amount is credited to the Provider’s account. If you do not pay the amount on time, the Provider is entitled to cancel your order. The Customer bears all fees charged to Customer by the selected payment service provider (according to the valid pricelist of the payment service provider) in connection with the transaction and the Customer is obliged to ensure that the respective fee for the selected AIFO Challenge is paid in full.
3.5. Payment Settlement by Odeonpay ALE S.R.L (""Paysagi""). The Supplier is FINMEDIA LIMITED. Payments are settled via Odeonpay ALE S.R.L. ("Paysagi"), acting solely as Merchant of Record for transaction settlement purposes. Paysagi is not the supplier of the goods or services. Payment settlement is subject to Paysagi's Terms of Use, available at https://paysagi.com/terms-of-use/, which are presented to customers during the payment process.
4.1. Only one Client Section is permitted per Customer and all of the Customer’s Services must be maintained in the Client Section.
4.2. The total number of AIFO Challenges and Verifications per one Client Section may be limited depending on the total sum of the initial capital amounts of the products ordered by the Customer or on the basis of other parameters. Unless the Provider grants an exception to the Customer, the initial capital amounts may not be transferred between the individual products or mutually combined. You may also not transfer or combine your performance, Service parameters, data, or any other information between the products.
4.3. 4.3.Access to the Client Section and Trading Platform is protected by login data, which the Customer may not make available or share with any third party. If the Customer has registered as a legal entity, the Customer may allow the use of the Services through the Customer’s Client Section to the authorized employees and representatives. The Customer is responsible for all activities that are performed through the Customer’s Client Section or Trading Platform. The Provider bears no responsibility, and the Customer is not entitled to any compensation, for any misuse of the Client Section, Trading Platform, or any part of the Services, nor is the Provider responsible for any negative consequences thereof for the Customer, if such misuse occurs for any reasons on the part of the Customer.
4.4. The Customer acknowledges that the Services may not be available around the clock, particularly with respect to maintenance, upgrades, or any other reasons. In particular, the Provider bears no responsibility, and the Customer is not entitled to any compensation, for the unavailability of the Client Section or Trading Platform and for damage or loss of any data or other content that Customer uploads, transfers or saves through the Client Section or Trading Platform.
4.5. The Customer may at any time request the cancellation of the Client Section by sending an e-mail to support@aifo.com. Sending a request for the cancellation of the Client Section is considered as a request for termination of the contract by the Customer, with the Customer being no longer entitled to use the Services, including the Client Section and Trading Platform. The Provider will immediately confirm the receipt of the request to the Customer by e-mail, whereby the contractual relationship between the Customer and the Provider will be terminated. In such a case, the Customer is not entitled to any refund of the fees already paid or costs otherwise incurred.
5.1. During the demo trading on the Trading Platform, you may perform any transactions, unless these constitute forbidden trading strategies or practices within the meaning of Clause 5.4. You also agree to follow good market standard rules and practices for trading on financial markets (e.g., risk management rules). Restrictions may also be imposed by the trading conditions of the Trading Platform that you have selected for trading.
5.2. You acknowledge that the Provider has access to information about the demo trades that you perform on the Trading Platform. You grant the Provider your consent to share this information with persons/entities who are in a group with the Provider or who are otherwise affiliated with the Provider, and you grant the Provider and these persons/entities your consent and authorization to process such information for the following purposes: (i) risk management and fraud prevention; (ii) improvement and development of the Provider’s products and services; (iii) compliance with applicable laws and regulations; (iv) internal analytics and business intelligence; (v) operating and providing the Services; and (vi) any other purpose connected with the Provider’s legitimate business interests, subject to applicable law. All processing of personal data shall be conducted in accordance with the Provider’s Privacy Policy and applicable data protection laws. You agree that these activities may be performed automatically without any further consent, consultation, or approval on your part being necessary, and that you are not entitled to any remuneration or revenue associated with the use of the data by the Provider in anonymised or aggregated form for business intelligence or product development purposes. The Provider is aware that you do not provide the Provider with any investment advice or recommendations through your demo trading. You acknowledge that you may suspend your demo trading on the Trading Platform at any time.
5.3. The Provider bears no responsibility for the information displayed on the Trading Platform, nor for any interruption of, or delay or inaccuracy in the market information displayed through your Client Section.
5.4.3. Furthermore, Customer shall not exploit the Services by performing trades without applying market standard risk management rules for trading on financial markets, this includes, among others, the following practices, (i) opening substantially larger position sizes compared to Customer’s other trades, whether on this or any other Customer’s account, or (ii) opening substantially smaller or larger number of positions compared to Customer’s other trades, whether on this or any other Customer’s account. The Provider reserves the right to determine, at its own discretion, whether certain trades, practices, strategies, or situations are Forbidden Trading Practices. For the avoidance of doubt, the Provider shall be entitled to rely on its own system records and data as prima facie evidence of any breach under this Clause 5.4.3.
5.5. If the Customer places an unusually high volume of orders for the Services within a disproportionately short period of time, the Provider may, as a protective measure, notify the Customer via the Client Section or e-mail. If such behaviour continues following notification, the Provider reserves the right to suspend any further orders by the Customer without prior notice and without any compensation. Where the Provider determines that such abnormal ordering behaviour is connected to, or constitutes, a Forbidden Trading Practice, the Provider may take all actions available to it under this Clause 5.5. The Provider reserves the right to determine, at its own discretion, the nature of the behaviour described above, and the Provider's system records shall constitute prima facie evidence in any such determination.
5.6. If the Customer engages in any of the Forbidden Trading Practices described in Clause 5.4, (i) the Provider may consider it as a failure to meet the conditions of the particular AIFO Challenge or Verification, (ii) the Provider may remove the transactions that violate the prohibition from the Customer’s trading history and/or not count their results in the profits and/or losses achieved by the demo trading, (iii) to immediately cancel all Services provided to the Customer and subsequently terminate this contract, or (iv) reduce the offered leverage on products to 1:5 on any or all Customer’s accounts.
5.7. In case when some or all Forbidden Trading Practices are executed on one or more AIFO Challenge and Verification accounts of one Customer, or accounts of various Customers, or by combining trading through AIFO Challenge and Verification accounts and AIFO Trader accounts, then the Provider is entitled to cancel all Services and terminate all respective contracts related to any and all Customer’s AIFO Challenge and Verification accounts and/or apply other measures in Clause 5.5. The Provider may exercise any and all actions in Clauses 5.5 and 5.6 at its own discretion.
5.8. If any AIFO Trader accounts were used for or were involved in the Forbidden Trading Practices, this may and will constitute a breach of respective terms and conditions for AIFO Trader account with third-party provider and may result in cancellation of all such user accounts and termination of respective agreements by the third-party provider.
5.9. If the Customer engages in any of the practices described in Clause 5.4 repeatedly, and the Provider has previously notified the Customer thereof, the Provider may prevent the Customer from accessing all Services or their parts, including access to the Client Section and Trading Platform, without any compensation. In such a case, the Customer is not entitled to a refund of the fees paid.
5.10. The Provider does not bear any responsibility for trading or other investment activities performed by the Customer outside the relationship with the Provider, for example by using data or other information from the Client Section, Trading Platform, or otherwise related to the Services in real trading on financial markets, not even if the Customer uses for such trading the same Trading Platform that the Customer uses for demo trading.
5.11. DEVELOPMENTS IN FINANCIAL MARKETS ARE SUBJECT TO FREQUENT AND ABRUPT CHANGES. TRADING ON FINANCIAL MARKETS MAY NOT BE PROFITABLE AND CAN LEAD TO SIGNIFICANT FINANCIAL LOSSES. ANY PREVIOUS PERFORMANCES AND PROFITS OF THE CUSTOMER’S DEMO TRADING ARE NOT A GUARANTEE OR INDICATION OF ANY FURTHER PERFORMANCE.
6.1. After paying the Fee for the selected option of the AIFO Challenge, the Customer will receive the relevant login data for the Trading Platform at the e-mail address provided by the Customer or in the Client Section. The Customer activates the AIFO Challenge by opening the first demo trade in the Trading Platform. YOU ACKNOWLEDGE THAT, BY OPENING THE FIRST DEMO TRADE, YOU EXPRESSLY DEMAND THE PROVIDER TO PROVIDE COMPLETE SERVICES. IF YOU ARE A CONSUMER, IT MEANS THE COMPLETION OF SERVICES BEFORE THE EXPIRY OF THE PERIOD FOR WITHDRAWAL FROM THE CONTRACT, WHICH AFFECTS YOUR RIGHT TO WITHDRAW FROM THE CONTRACT, AS SPECIFIED IN MORE DETAIL IN CLAUSE 12. If you do not activate the AIFO Challenge within 30 calendar days of the date on which it was made available to you, your access to it will be suspended. You can request the renewal of access via the Client Section or by sending an e-mail to support@aifo.com within 6 months of the initial suspension, otherwise we will terminate the provision of the Services without any right to a refund of the Fee.
6.2. In order for the Customer to meet the conditions of the AIFO Evaluation Challenge, the Customer must fulfil all of the following parameters at the same time:
The above parameters are explained in more detail on the Website.
6.3. For the Customer to meet the conditions of the Verification following the AIFO Evaluation Challenge, the Customer shall comply with the following:
If the Provider verifies the AIFO Evaluation Challenge as successful, it will make the Funded Phase available to the Customer free of charge by sending login details to the Customer’s e-mail address or Client Section.
6.4. The Customer activates the Funded Phase by opening the first trade in the Trading Platform. If the Customer does not activate any trade within 21 calendar days from the day on which the Customer received the new login data, the Customer’s access to the Funded Phase will be suspended. The Customer may request the renewal of access via the Client Section or by sending an e-mail to support@aifo.com within 6 months of the suspension, otherwise we will terminate the provision of the Services without any right to a refund.
6.5. In order for the Customer to meet the conditions of the Instant Challenge, the Customer must fulfil all of the following parameters at the same time:
6.6. For the Customer to meet the conditions of the Verification, the Customer shall comply with the following:
6.7. If during the AIFO Evaluation Challenge the Customer does not comply with some of the conditions specified in Clause 6.2.1 or 6.2.2, the AIFO Evaluation Challenge will be evaluated as unsuccessful, therefore the Customer Challenge account will be terminated. If during the Instant Challenge the Customer does not comply with any of the conditions specified in Clause 6.5.1 or 6.5.2, the Instant Challenge will be evaluated as unsuccessful, and the Customer Challenge will be terminated. In such cases, the Customer’s account and Services will be cancelled without refund of fees already paid.
6.8. The Provider recommending the Customer as a candidate for the AIFO Trader Program in no way guarantees the Customer’s acceptance into the AIFO Trader Program. The Provider is not responsible for the Customer being rejected by the AIFO Trader Program for any or no reason.
If the Customer is successful in both the AIFO Challenge and Verification, the Customer may be offered a contract by a third-party company, in its sole discretion to participate in the AIFO Trader Program. The terms, conditions, and agreement between the Customer and a third-party company are strictly between the Customer and the third-party company. Finmedia Limited is in no way involved with the AIFO Trader Program agreement—or lack thereof—executed between the third-party company and the Customer. The Customer acknowledges their personal data may be shared with a third party company for purposes of considering offering such a contract.
8.1. The Website and all Services, including the Client Section, their appearance and all applications, data, information, multimedia elements such as texts, drawings, graphics, design, icons, images, audio and video samples, and any other content that may form the Website and the Services (collectively as the “Content”), are subject to legal protection pursuant to copyright laws and other legal regulations and are the property of the Provider or the Provider’s licensors. The Provider grants you limited, non-exclusive, non-transferable, non-assignable, non-passable, and revocable permission to use the Content for the purpose of using the Services for your personal use and in accordance with the purpose for which the Services are provided. The Content is not sold or otherwise transferred to you and remains the property of the Provider or the Provider’s licensors.
8.2. All trademarks, logos, trade names, and other designations are the property of the Provider or Provider’s licensors, and the Provider does not grant you any authorization to use them.
8.3. Both the Customer and the Provider undertake to act in accordance with the principles of fair dealing in the performance of the contract and in mutual negotiations and, in particular, not to damage the good reputation and legitimate interests of the other party. The Customer and the Provider will resolve any possible disagreements or disputes between them in accordance with these GTC and the applicable law.
8.4. Except for the rights expressly set out in these GTC, the Provider does not grant you any other rights relating to the Services and other Content. You may only use the Services and other Content as set out in these GTC.
8.5. When accessing the Services and other Content, the following is prohibited:
8.6. The provisions of Clause 8 are not intended to deprive the Customer of the Customer’s consumer rights which cannot be excluded by law.
9.1. YOU ACKNOWLEDGE THAT THE SERVICES AND OTHER CONTENT ARE PROVIDED “AS IS” WITH ALL THEIR ERRORS, DEFECTS AND SHORTCOMINGS, AND THAT THEIR USE IS AT YOUR SOLE RESPONSIBILITY AND RISK. TO THE MAXIMUM EXTENT PERMITTED BY THE MANDATORY LAWS, THE PROVIDER DISCLAIMS ANY STATUTORY, CONTRACTUAL, EXPRESS, AND IMPLIED WARRANTIES OF ANY KIND, INCLUDING ANY WARRANTY OF QUALITY, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NONINFRINGEMENT OF ANY RIGHTS.
9.2. TO THE EXTENT PERMITTED BY THE MANDATORY PROVISIONS OF THE APPLICABLE LAWS, THE PROVIDER IS NOT RESPONSIBLE FOR ANY HARM, INCLUDING ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES, INCLUDING LOST PROFIT, LOSS OF DATA, PERSONAL OR OTHER NON-MONETARY HARM OR PROPERTY DAMAGE CAUSED AS A RESULT OF USE OF THE SERVICES OR RELIANCE ON ANY TOOL, FUNCTIONALITY, INFORMATION OR ANY OTHER CONTENT AVAILABLE IN CONNECTION WITH THE USE OF THE SERVICES OR ELSEWHERE ON THE WEBSITE. THE PROVIDER IS NOT RESPONSIBLE FOR ANY PRODUCTS, SERVICES, APPLICATIONS OR OTHER THIRDPARTY CONTENT THAT THE CUSTOMER USES IN CONNECTION WITH THE SERVICES. IN CASE THE PROVIDER’S LIABILITY IS ESTABLISHED IN CONNECTION WITH THE OPERATION OF THE WEBSITE OR PROVISION OF THE SERVICES BY A COURT OF JUSTICE OR ANY OTHER COMPETENT AUTHORITY, THIS LIABILITY SHALL BE LIMITED TO THE AMOUNT OF THE FEE ACTUALLY PAID BY THE CUSTOMER FOR THE SPECIFIC SERVICE IN CONNECTION WITH WHICH THE CUSTOMER HAS INCURRED THE LOSS. THE PARTIES ACKNOWLEDGE THAT THE ALLOCATION OF RISK IN THIS CLAUSE 9.2 IS REASONABLE AND REFLECTS THE FEE STRUCTURE OF THE SERVICES. NOTHING IN THIS CLAUSE 9.2 SHALL EXCLUDE OR LIMIT THE PROVIDER’S LIABILITY FOR: (I) DEATH OR PERSONAL INJURY CAUSED BY THE PROVIDER’S GROSS NEGLIGENCE OR WILFUL MISCONDUCT; (II) FRAUD OR FRAUDULENT MISREPRESENTATION BY THE PROVIDER; OR (III) ANY OTHER LIABILITY THAT CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE MANDATORY LAW.
9.3. The Provider reserves the right to modify, change, replace, add, or remove any elements and functions of the Services at any time without any compensation.
9.4. The Provider is not responsible for its failure to provide the purchased Services if that failure occurs due to serious technical or operational reasons beyond the Provider’s control, in the case of any crisis or imminent crisis, natural disaster, war, insurrection, pandemic, a threat to a large number of people or other force majeure events, and/or if the Provider is prevented from providing the Services as a result of any obligations imposed by law or a decision of a public authority.
9.5. The provisions of Clause 9 are not intended to deprive the Customer of the Customer’s consumer or other rights that cannot be excluded by law.
10.1. IF THE CUSTOMER VIOLATES ANY PROVISION OF THESE GTC IN A MANNER THAT MAY CAUSE ANY HARM TO THE PROVIDER, IN PARTICULAR, IF THE CUSTOMER ACCESSES THE SERVICES IN CONFLICT WITH CLAUSE 1.3 OR 1.4, IF THE CUSTOMER PROVIDES INCOMPLETE, UNTRUE OR NON-UPDATED INFORMATION IN CONFLICT WITH CLAUSE 2.3, IF THE CUSTOMER ACTS IN A MANNER THAT MAY DAMAGE THE PROVIDER’S GOOD REPUTATION, IF THE CUSTOMER VIOLATES THE DEMO TRADING RULES PURSUANT TO CLAUSE 5.4, IF THE CUSTOMER ACTS IN CONFLICT WITH CLAUSE 8.3, AND/OR IF THE CUSTOMER PERFORMS ANY OF THE ACTIVITIES REFERRED TO IN CLAUSE 8.5, THE PROVIDER MAY PREVENT THE CUSTOMER FROM ORDERING ANY OTHER SERVICES AND COMPLETELY OR PARTIALLY RESTRICT THE CUSTOMER’S ACCESS TO ALL OR SOME OF THE SERVICES, INCLUDING ACCESS TO THE CLIENT SECTION AND TRADING PLATFORM, WITHOUT ANY PRIOR NOTICE AND WITHOUT ANY COMPENSATION.
10.2. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE CUSTOMER SHALL DEFEND, INDEMNIFY AND HOLD HARMLESS THE PROVIDER AND ITS AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, LICENSORS AND SERVICE PROVIDERS (COLLECTIVELY, THE “PROVIDER PARTIES”) FROM AND AGAINST ANY AND ALL CLAIMS, DAMAGES, LOSSES, LIABILITIES, COSTS AND EXPENSES (INCLUDING REASONABLE LEGAL FEES) (“LOSSES”) ARISING OUT OF OR RELATING TO: (i) THE CUSTOMER’S BREACH OF ANY PROVISION OF THESE GTC, INCLUDING WITHOUT LIMITATION CLAUSES 1.4, 2.3, 5.4 AND 8.5; (ii) THE CUSTOMER’S VIOLATION OF ANY APPLICABLE LAW OR REGULATION, INCLUDING APPLICABLE SANCTIONS LAWS; (iii) THE CUSTOMER’S ENGAGEMENT IN ANY FORBIDDEN TRADING PRACTICES AS DEFINED IN CLAUSE 5.4; (iv) ANY MISREPRESENTATION MADE BY THE CUSTOMER IN CONNECTION WITH THESE GTC OR THE CUSTOMER’S USE OF THE SERVICES, INCLUDING BREACH OF THE REPRESENTATIONS IN CLAUSES 1.4 AND 1.9; OR (v) ANY THIRD-PARTY CLAIM ARISING FROM THE CUSTOMER’S USE OF THE SERVICES IN VIOLATION OF THESE GTC. THE CUSTOMER’S INDEMNIFICATION OBLIGATIONS UNDER THIS CLAUSE 10.2 SHALL SURVIVE THE TERMINATION OR EXPIRY OF THESE GTC AND ANY AGREEMENT.
11.1. You acknowledge that all communication from the Provider or its partners in connection with the provision of Services will take place through the Client Section or your e-mail address, which you register with us. Written electronic communication by e-mail or through the Client Section is also considered to be written communication.
11.2. Our contact e-mail address is support@aifo.com and our contact address is Room 4, 15/F, Sunwise Industrial Building, 16-26 Wang Wo Tsai Street, Tsuen Wan, Hong Kong.
13.1. If the Services do not correspond to what was agreed or have not been provided to you, you can exercise your rights from defective performance. The Provider does not provide any guarantee for the quality of the services. You must notify us of the defect without undue delay at our e-mail address or at our address listed in Clause 11.2. When exercising the rights from defective performance, you may request that we remedy the defect or provide you with a reasonable discount. If the defect cannot be remedied, you can withdraw from the contract or claim a reasonable discount.
13.2. We will try to resolve any complaint you may lodge as soon as possible (no later than within 30 calendar days), and we will confirm its receipt and settlement to you in writing. If we do not settle the complaint in time, you have the right to withdraw from the contract. You can file a complaint by sending an e-mail to our e-mail address support@aifo.com.
14.1. The Provider reserves the right to change these GTC from time to time with effect for the contract previously entered into by the Customer. The Provider will notify the Customer of the change in the GTC at least 14 days (in the case of Material Changes) or at least 7 days (in the case of Non-Material Change) before the change in the GTC is effective, via the Client Section or by e-mail. The Provider shall clearly identify and describe the nature of each change in its notification. If the Customer does not agree with the change, the Customer is entitled to reject it. The Customer must do so no later than on the last business day before these changes take effect by sending the rejection to our e-mail address support@aifo.com. Upon receiving such rejection, the contract will be terminated. If the Customer does not reject the change, it is considered that the Customer agrees to the new version of GTC. For the purposes of this Clause 14, “Material Changes” means changes to fees, core AIFO Challenge or Verification parameters, dispute resolution mechanisms, governing law, limitation of liability, or the Customer’s substantive rights or obligations; and “Non-Material Changes” means all other changes, including corrections of typographical errors, updates to contact details, clarifications of existing provisions, or the addition of new optional services.
14.2. If the change offers the Customer a new service or other additional functionalities or this change is solely to their advantage, the Provider can inform the Customer about this change less than 7 days before the effective date of such change, but no later than the day before its effectiveness.
14.3. The Provider will mainly change these GTC for the following reasons:
15.1. It is our objective that our customers are satisfied with the AIFO services; therefore, if you have any complaints or suggestions, we will be happy to resolve them directly with you and you can contact us at our e-mail address or at our address listed in Clause 11.2.
16.1. Any legal relations established by these GTC or related to them, as well as any related non-contractual legal relations, shall be governed by the laws of the Room 4, 15/F, Sunwise Industrial Building, 16-26 Wang Wo Tsai Street, Tsuen Wan, Hong Kong, excluding its conflict of law rules. Any dispute that may arise in connection with these GTC and/or related agreements will fall within the jurisdiction of courts of the Hong Kong SAR having local jurisdiction according to the registered office of the Provider.
17.1. The contract is in effect until the AIFO Challenge or Verification is passed or failed in accordance with Clause 6.2 or 6.5 respectively.
17.2. The contract may be terminated by either party earlier in accordance with these GTC. The contract terminates automatically and with immediate effect in case the Customer, during the AIFO Evaluation or Instant Challenge, does not open at least one demo trade during a period of 30 consecutive days.
17.3. Notwithstanding Clause 17.2 the Provider may terminate this contract with cause and immediate effect when the provision of Services under contract would affect the ability of the Provider to adhere to its legal obligations or orders or decisions of a governmental bodies or other regulators.
17.4. Either Party may terminate this contract without cause by serving a written notice at least 7 days in advance in accordance with Clause 11 on the other Party.
18.1. The Provider has not adopted any consumers codes of conduct.
18.2. These GTC constitute the complete terms and conditions agreed between you and the Provider and supersede all prior agreements relating to the subject matter of the GTC, whether verbal or written.
18.3. Nothing in these GTC is intended to limit any legal claims set out elsewhere in these GTC or arising from the applicable law. If the Provider or any third party authorized thereto does not enforce the compliance with these GTC, this can in no way be construed as a waiver of any right or claim.
18.4. The Provider may assign any claim arising to the Provider from these GTC or any agreement to a third party without your consent. You agree that the Provider may, as the assignor, transfer its rights and obligations under these GTC or any agreement or parts thereof to a third party. The Customer is not authorized to transfer or assign the Customer’s rights and obligations under these GTC or any agreements or parts thereof, or any receivables arising from them, in whole or in part, to any third party.
18.5. If any provision of the GTC is found to be invalid or ineffective, it shall be replaced by a provision whose meaning is as close as possible to the invalid provision. The invalidity or ineffectiveness of one provision shall not affect the validity of the other provisions. No past or future practice established between the parties and no custom maintained in general or in the industry relating to the subject-matter of the performance, which is not expressly referred to in the GTC, shall be applied and no rights and obligations shall be derived from them for the parties; in addition, they shall not be taken into account in the interpretation of manifestations of the will of the parties.
18.6. The schedules to the GTC form integral parts of the GTC. In the event of a conflict between the wording of the main text of the GTC and any schedule thereof, the main text of the GTC shall prevail.
18.7. Prior to the mutual acceptance of these GTC, the parties have carefully assessed the possible risks arising from them and accept those risks.
18.8. Definitions:
18.8.1. “Account Rolling” means the practice of opening one or more new Challenge accounts following the failure or termination of a prior Challenge account, where: (a) the Customer's trading pattern on the new account(s) — including without limitation the instruments traded, position sizes, holding periods, or time-of-day patterns — is the same as or substantially similar to the trading pattern on the prior account; or (b) the overall pattern of account openings and closures, viewed in aggregate, indicates a systematic attempt to exploit the evaluation structure of the Services rather than to demonstrate genuine trading skill;
18.8.2. “AIFO Challenge” or “Challenge” means, any of the evaluation programmes offered by the Provider under the AIFO brand, comprising: (a) the “AIFO Evaluation Challenge”, being the multi-stage evaluation programme described in Clauses 6.1–6.4; and (b) the “Instant Challenge”, being the single-stage evaluation programme described in Clauses 6.5–6.6, which itself comprises the Instant Pro Challenge and the Instant AIFO Challenge sub-options. Where these GTC use the term “AIFO Challenge” without further qualification — including in relation to Fees, refund policy, order process, and contract formation — it shall refer to both products (a) and (b) collectively. Where a provision is expressed to apply to the “AIFO Evaluation Challenge” or the “Instant Challenge” specifically, only that product shall be affected;
18.8.3. “Chargeback Costs” means the full amount subject to the chargeback together with any chargeback fees, administrative costs and reasonable legal expenses;
18.8.4. “Client Section” means the online account management portal made available by the Provider to the Customer following registration;
18.8.5. “Consistency Score” means the metric used to assess the concentration of a Customer’s trading profits across individual trading days during the Instant Challenge, as further described in Clause 6.5.3;
18.8.6. “Content” has the meaning given in Clause 8.1;
18.8.7. “Customer”, “you” or “your” means the individual or legal entity who registers on the Website and enters into a contract with the Provider under these GTC;
18.8.8. “Demo Account” means the simulated trading account made available to the Customer by the Provider (or by a Trading Platform operator on the Provider's behalf) for the purposes of the AIFO Challenge or Verification, funded with Initial Capital that is fictitious and has no monetary value outside the Services;
18.8.9. “Demo Trading” means the placing, management and closing of simulated orders on a Demo Account using real-time or near-real-time financial market reference data, which: (a) does not constitute actual trading on any financial market; (b) does not involve the transfer, commitment or risk of any real funds; and (c) does not create any rights, obligations or positions between the Customer and any counterparty in any financial market;
18.8.10. “Fee” has the meaning given in Clause 2.5;
18.8.11. “Forbidden Trading Practices” has the meaning given in Clause 5.4;
18.8.12. “Funded Phase” means the stage following successful completion of the AIFO Evaluation Challenge or Instant Challenge (as applicable) in which the Customer may be referred to the AIFO Trader Programme or made available funded trading access, as further described in Clauses 6.3 and 6.6;
18.8.13. “GTC” means these AIFO General Terms and Conditions as amended from time to time in accordance with Clause 14;
18.8.14. “Initial Capital” means the notional capital amount allocated to the Customer’s demo trading account for the purposes of the AIFO Challenge or Verification, as specified at the time of the Customer’s order;
18.8.15. “Instant Challenge” means the single-stage evaluation programme described in Clause 6.5, forming part of the AIFO Challenge family;
18.8.16. “Material Changes” and “Non-Material Changes” have the meanings given in Clause 14.1;
18.8.17. “One-Sided Bets” means a pattern of trading in which the Customer consistently opens positions in a single market direction across a concentrated period of time, in a manner that is inconsistent with genuine engagement with prevailing market conditions and indicative of an attempt to exploit the Services rather than to demonstrate real trading skill. The Provider retains sole discretion to determine whether a trading pattern constitutes One-Sided Bets, having regard to all relevant circumstances;
18.8.18. “Overexposure” means maintaining open positions of a size that is disproportionate to the Customer's account equity or overall trading activity, including where the aggregate notional value of open positions at any one time materially exceeds what a prudent trader operating under standard market risk management principles would consider appropriate in the circumstances. The Provider retains sole discretion to determine whether Overexposure has occurred, having regard to all relevant circumstances;
18.8.19. “Overleveraging” means the use of leverage at a level that is disproportionate to the Customer's trading strategy, the volatility of the relevant instrument, or prevailing market conditions, including where the leverage applied materially exceeds the level that a prudent trader operating under standard market risk management principles would consider appropriate for the relevant instrument and account size. The Provider retains sole discretion to determine whether Overleveraging has occurred, having regard to all relevant circumstances;
18.8.20. “Provider”, “we”, “our” or “us” means Finmedia Limited as identified in Clause 1.1;
18.8.21. “Provider Parties” has the meaning given in Clause 10.2;
18.8.22. “Restricted Jurisdictions” has the meaning given in Clause 1.4;
18.8.23. “Services” has the meaning given in the preamble and Clause 1.5;
18.8.24. “Step” means each discrete phase of the AIFO Evaluation Challenge through which a Customer must progress sequentially in order to satisfy the conditions for Verification. The AIFO Evaluation Challenge currently comprises three Steps (Step 1, Step 2 and Step 3), each with distinct profit targets and maximum loss thresholds as set out in Clause 6.2 and on the Website. A Customer may not proceed to a subsequent Step until all conditions of the immediately preceding Step have been met. The number of Steps and their respective parameters are subject to change in accordance with Clause 14;