General Terms & Conditions
Last Updated: April 2025
Please read these General Terms and Conditions (“Agreement” or “GTCs”) carefully. By accessing or using the website or any services provided by Mindwave Training LTD, which trades under the brand name “FundingRock.com” (“the Company,” “we,” “our,” or “us”), or by agreeing to these terms in any manner, you (“you,” “your,” or “Client”) acknowledge and accept these GTCs. If you do not agree with these terms, please do not use our services.
1. Overview
1.1 These GTCs govern your use of the services provided by Mindwave Training LTD, a company incorporated in Cyprus with registration number HE 471803 and located in Nicosia, Cyprus (“FundingRock”). These terms are applicable regardless of whether you access them via fundingrock.com or any other channels through which our services may be available.
1.2 By registering on our website or utilizing our services, you enter into a binding agreement with the Company, and these GTCs become an integral part and govern that agreement. Your acceptance of these terms signifies your agreement to comply with them.
1.3 The services offered by the Company do not qualify as investment services under the applicable laws in your jurisdiction. We do not provide financial advice or investment recommendations. Our team members are not authorized nor can they in any way offer such guidance and nothing said by them can even be deemed to be or construed as financial advice applicable to real as opposed to virtual trades.
1.4 We handle your personal data in accordance with our Privacy Policy.
2. Definitions
The following terms, as used in this Agreement, are defined as follows:
2.1 “Client” refers to the individual utilizing the services provided by the Company.
2.2 “Dashboard” refers to the client portal and platform accessed after registration, which contains account information and performance details.
2.3 “Economic Calendar” refers to upcoming market events and economic data releases that may influence trading activities.
2.4 “Evaluation Phase” or “Challenge” refers to the assessment process where clients must meet specific trading and risk management criteria in a simulated environment to progress to the next phase.
2.5 “Funded Phase” refers to the stage where a client, having met the criteria of the Evaluation Phase and successfully completed the verification (KYC) process, gains access to a funded trading account.
2.6 “Funded Trader Agreement” is the contract entered into by a client when transitioning from the Evaluation Phase to the Funded Phase after passing the challenge and completing the KYC process.
2.7 “Know Your Client (KYC)” is the process of verifying the client’s identity after passing the Evaluation Phase, which is required before accessing the Funded Phase.
2.8 “Service(s)” refers to all services offered by the Company, including access to the platform, educational materials, and trading simulations.
2.9 “Trading Platform” refers to the electronic platform provided by third-party vendors through which trading is simulated.
2.10 “Website” refers to fundingrock.com.
3. Registration and General Terms
3.1 During the registration process, you must provide accurate and complete information, including your full legal name and address as per your identification documents. Any discrepancies may lead the Company to withhold access to the Trading Platform or cancel fund allocations.
3.2 Our services are available only to individuals who are at least 18 years old and reside in jurisdictions where such services are permitted. By using our services, you confirm that you meet these criteria.
3.3 You must keep all information provided up to date and accurate. Any changes to your personal information must be reported promptly to the Company. The use of tools like VPNs or proxies to misrepresent your location is strictly prohibited and constitutes a breach of this Agreement.
3.4 You are responsible for ensuring compliance with local laws regarding your use of our services. The Company reserves the right to restrict services based on the client’s location.
3.5 The Company may restrict or terminate services if you are subject to sanctions or have a history of financial crimes. You are responsible for ensuring that your use of the services complies with applicable laws.
3.6 Entrepreneurs and legal entities registering on the platform are subject to different legal obligations and may not benefit from consumer protection provisions set out in these GTCs.
4. Description of Services
4.1 The Company provides services for simulated trading, risk management tools, training resources, and other related services. These services are available via the Dashboard or other means provided by us or third-party partners.
4.2 All trading conducted during the Evaluation Phase is simulated. You do not have the right to withdraw or use any fictional funds allocated in the evaluation environment. The funds involved are not real and will not result in actual financial compensation or losses.
4.3 Upon registration, you can access services by logging into your Dashboard, where you can manage your account and participate in challenges.
4.4 Clients can select from various challenge options through the Dashboard, subject to availability. Once a challenge is selected and payment is completed, you agree to these GTCs. If you successfully complete the challenge, you may at the Company’s total discretion, qualify for the Funded Phase.
4.5 The type of challenge you choose will determine the parameters and criteria for advancing to subsequent stages. This selection is final and cannot be changed once made.
4.6 Each challenge and account type may have distinct rules. Rules specific to one challenge or account type do not apply to others.
4.7 You are responsible for providing the necessary hardware, software, and internet access to utilize the platform. The Company does not guarantee compatibility with specific devices or software.
4.8 You acknowledge that third-party platform providers are independent entities, and you must accept their terms and conditions before using their platforms.
4.9 Excessive or rapid order placements may be flagged as suspicious activity. The Company reserves the right to issue warnings or suspend further transactions as deemed necessary.
4.10 Clients may hold multiple challenges simultaneously; however, the total allocation across all funded accounts is limited to $200,000. The Company reserves the right to monitor compliance with this limit, including the authority to suspend or terminate accounts as necessary.
5. Fees
5.1 Participation in the Evaluation Phase requires payment of a fee, which is based on the account type selected by the client.
5.2 The Company reserves the right to adjust fees at its discretion. Discounts or promotional offers may not be combined unless explicitly stated by the Company.
5.3 Refund requests are accepted within 14 days from the date of purchase, provided the client has not engaged with the account or taken any actions within it. Refund requests must be submitted in writing to [email protected].
5.4 The Company reserves the right to deny refunds if the account has been accessed or used for trading purposes.
5.5 Refund eligibility is subject to the criteria outlined in the Funded Trader Agreement for clients who progress to the Funded Phase.
5.6 The Company may suspend or deny services to clients who dispute payments or request chargebacks through their bank or payment provider.
6. Payment Terms
6.1 Payments for services are processed in USD or other currencies listed on the Website. Currency conversion fees may apply depending on the payment method used.
6.2 Clients are responsible for ensuring full payment of all fees, including any fees charged by payment providers.
6.3 Payment methods are listed on the Website, and clients are responsible for any associated costs or fees.
6.4 Payments made via credit/debit cards are processed immediately, and clients are responsible for ensuring that payment is successful.
7. Dashboard Access
7.1 Each challenge you participate in is distinct. You cannot transfer or combine challenge parameters or funds between different challenges unless explicitly permitted by the Company.
7.2 Your Dashboard access is secured with login credentials, which must be kept confidential. If you are a legal entity, you may grant access to authorized representatives. However, you are solely responsible for all activities conducted using your login credentials.
7.3 The Company may need to perform maintenance or upgrades that could affect service quality or cause access disruptions. The Company is not liable for any service interruptions or data loss during such events, and no refunds or credits will be issued for these occurrences.
8. Termination of Services
8.1 These GTCs take effect upon your first use of the services and remain valid for as long as you continue to use the services.
8.2 Clients may request termination of a challenge via the Dashboard. This action will terminate the associated account and revoke access to the services, with no refund provided for any fees paid.
8.3 If you misuse the services or violate any part of these GTCs, the Company reserves the right to terminate your account or access to the platform without prior notice. This includes non-compliance with the terms of the challenge or the Funded Phase.
8.4 Any account that has not been active (i.e., no trading activity) for more than 30 consecutive calendar days will be considered inactive and will be terminated. Accounts terminated for inactivity will not be eligible for a refund.
9. Trading Rules and Parameters
9.1 During your Evaluation Phase, you must comply with all risk management rules, including those specific to each trading platform. Failure to adhere to these rules may result in disqualification from the challenge.
9.2 The Company may track your demo trades and share this information with affiliates or third parties for business purposes. By participating, you consent to the collection and sharing of this data, acknowledging that no compensation will be provided for its use.
9.3 You understand that demo trading is not considered investment advice, and you are free to stop trading at any time.
9.4 The Company is not liable for any inaccuracies or delays in market data displayed on the Trading Platform or Dashboard.
10. Order Placement and Market Timing
10.1 It is your responsibility to avoid opening positions within two minutes before, during, or after critical market events or immediately before or after significant releases listed in the Economic Calendar. You must review the Economic Calendar and remain aware of potential market-moving events.
10.2 Trades executed at prices deemed to be out of line with the market will be cancelled, and any resulting profits or losses will be annulled.
10.3 Any attempts to manipulate the market through practices which the Company at its absolute discretion deems fraudulent, such as, without limitation, opening opposite positions across different accounts, are strictly prohibited. If detected, the Company will immediately close such positions and consider the account in breach of these terms.
11. Evaluation Phase and Funded Phase
11.1 Upon payment of the relevant fee, the client will receive login details for the Trading Platform. This marks the initial step to access the Evaluation Phase.
11.2 Once you have started trading, the right to withdraw from the contract is forfeited, in accordance with the applicable terms of this Agreement.
11.3 If you meet the conditions of the Evaluation Phase, you will advance to the Funded Phase, provided you have completed the KYC process.
11.4 The Company reserves the right at its total discretion to decline your participation in the Funded Phase if the Evaluation Phase was not successfully completed.
11.5 If you fail to meet the challenge requirements, you will not qualify for progression to the Funded Phase.
11.6 If you pass the Evaluation Phase and complete the KYC, the Company may offer you a Funded Trader Agreement, which outlines the terms for participating in the Funded Phase and accessing the Company’s simulated capital for trading.
12. Use of the Website, Services, and Content
12.1 All intellectual property on the Website, including but not limited to logos, text, graphics, and multimedia, is owned by the Company or its licensors. You are granted a non-exclusive, non-transferable, limited license to use these materials solely for personal, non-commercial purposes.
12.2 Any trademarks or brand names used by the Company are protected by intellectual property laws and cannot be used without prior written consent.
12.3 You agree to use the services in a manner that does not harm the Company’s reputation or legal rights.
12.4 Except as expressly permitted under these GTCs, you do not have the right to reproduce, distribute, or modify any part of the services or website content.
12.5 The following activities are prohibited:
12.5.1 Attempting to interfere with the operation of the Website or services in any manner, including exploiting errors, bugs, or vulnerabilities for personal gain.
12.5.2 Circumventing any restrictions set on the website, including geographic limitations or access controls.
12.5.3 Using automated systems or software to scrape or collect data from the Website without permission.
12.5.4 Selling, distributing, or using the services for purposes not explicitly permitted in these GTCs.
12.6 Nothing in these terms limits your statutory rights under any applicable law.
13. Prohibited Practices in Trading
13.1 Fraudulent Practices: Clients are strictly prohibited from engaging in any fraudulent or manipulative activities, including but not limited to:
13.2 Exploitation of System Vulnerabilities: Clients must not exploit or attempt to exploit any errors or flaws in the system, such as inaccurate price feeds or execution lags. Engaging in such activities will be considered a serious breach of these terms, and any gains derived from exploiting system issues will be annulled.
13.3 Hedging and Position Duplication: The Company prohibits hedging strategies that involve holding opposite positions in different accounts. Any attempts to duplicate trades across multiple accounts are considered manipulative and may result in immediate account termination and annulment of all related trades.
13.4 Unfair Advantages: The use of high-frequency trading algorithms, AI-driven systems, or any automated systems that provide an unfair advantage is strictly prohibited. Clients must trade in a manner that reflects natural market behaviour.
13.5 Arbitrage Strategies: Any form of arbitrage trading is strictly prohibited. This includes exploiting price discrepancies that do not reflect legitimate market conditions. Profits gained through these strategies will be forfeited, and accounts may be suspended.
13.6 Excessive Trading Volume: Clients are prohibited from engaging in excessive trading volumes with the intent of inflating account metrics or achieving profits while disregarding risk management principles. Clients must not engage in abnormal trading volumes or take unreasonably large positions inconsistent with regular market conditions, as this constitutes artificial manipulation of performance metrics.
13.7 Overleveraging and Risk Management Violations: Clients are expected to adhere to sound risk management principles and avoid practices that suggest gambling like behaviour, such as, without limitation, using excessive leverage relative to account size or placing large, concentrated bets on a single position. Violations of acceptable risk parameters may lead to immediate penalties, including suspension of services or account termination.
13.8 Copy Trading and Signal Manipulation: The use of copy trading or external signal services to replicate or artificially inflate performance is prohibited. Each client must demonstrate independent judgment and strategy in their trading decisions. Automated trading systems (EAs) or similar tools to copy or mirror trades are also forbidden unless explicitly permitted by the Company.
13.9 Excessive Use of Small Lot Sizes: The use of small lot sizes to artificially meet trading criteria or bypass risk management controls is prohibited. This includes taking minimal positions to manipulate trading metrics without genuine market participation.
13.10 Unrealistic or Manipulative Profit Strategies: Clients should avoid engaging in unrealistic trading strategies aimed at achieving extreme profit rates over short periods. This includes taking disproportionate risks or acting in ways that disrupt the intended structure of the Evaluation Phase and Funded Phase.
13.11 Unauthorized Use of Third-Party Tools: The use of third-party Expert Advisors (EAs) designed for high-frequency scalping, tick-based trading, or any strategy that undermines market pricing or execution speed or any such or similar processes is forbidden. If you use third-party software, you must ensure it adheres to the ethical and operational standards set by the Company.
13.12 Trading During Restricted Times: Clients are prohibited from trading during restricted times, including two minutes before and two minutes after high-impact economic events listed in the Economic Calendar. Trading during these periods can lead to price discrepancies and is considered an attempt to exploit market volatility.
13.13 Non-Compliant Behavior and Consequences: Any breach of the above terms may result in immediate corrective actions, including but not limited to:
The Company retains sole discretion in determining the severity of violations and the appropriate course of action. Any violation of these practices is deemed a material breach of the Agreement and may result in immediate exclusion from the services without prior notice or compensation.
14. Communication
14.1 All official communications from the Company will be sent through the Dashboard or via email.
14.2 For inquiries or support requests, please contact us at [email protected].
14.3 The official language for these GTCs is English. While translations may be provided for convenience, the English version will prevail in the event of discrepancies.
15. Withdrawal Rights
15.1 You have the right to withdraw from these GTCs within 14 days of entering into the Agreement, provided that no trading activity has occurred.
15.2 To request a withdrawal, email [email protected] within the 14-day period. If eligible, we will process a refund of all fees paid within 14 days.
16. Defective Performance
16.1 If the services do not meet the agreed-upon standards or are otherwise defective, you may notify us at [email protected]. We will assess the issue and may offer a remedy, including a refund or discount, at the Company’s discretion.
17. Changes to These Terms
17.1 The Company may modify these GTCs from time to time. Any significant changes will be communicated to you via email or through the Dashboard, and you will have the opportunity to accept the revised terms or terminate the Agreement.
18. Complaints and Dispute Resolution
18.1 If you have a complaint or issue regarding the services, please contact us at [email protected]. We are committed to resolving complaints promptly.
19. Governing Law and Jurisdiction
19.1 These GTCs are governed by the laws of Cyprus. Any disputes arising from or related to this Agreement will be resolved under the jurisdiction of the courts of Cyprus.
19.2 These GTCs do not limit any consumer rights you may have under applicable laws in your jurisdiction.
20. Miscellaneous
20.1 This Agreement represents the entire understanding between you and the Company regarding the services and supersedes any prior agreements.
20.2 If any part of this Agreement is found to be invalid or unenforceable, the remaining terms will remain in effect.
20.3 By accepting these terms, you acknowledge and accept all potential risks associated with trading challenges and the Funded Phase.
21. Conduct and Behaviour Policy
The Company is dedicated to fostering a respectful and efficient environment for both clients and employees. Abusive or aggressive behaviour towards staff or other clients is strictly prohibited. Any behaviour that disrupts services or creates an unsafe environment will result in the suspension or termination of access to the services.
FundingRock (www.fundingrock.com) is a trade name and brand operated by Mindwave Training Limited (Company registration number HE471803 of Office 401/2 Ayias Elenis 36, Nicosia 1061, Cyprus. MIndwave offers proprietary trading or a simulated trading platform together with various educational information. Mindwave does not nor any of the services or information provided by are intended to be financial advice or any form of financial services wat so ever. It does not purport to be a trading platform, it does allow trading of any assets, securities or tradeable financial instruments of any type, it does not accept any deposits of cash or assets and does not receive any commissions or other income other than the challenge registration fee of customers wishing to use its simulated trading or educational services.
Any use of the information available on our web site or platforms should not be relied upon and data or information or any investment advice should be secured from regulated or licensed professional and reputable sources before any investment decisions are made.
Mindwave, its officers, employees, agents or any party connected to them accepts no responsibility whatsoever for any investment decisions and any loss arising from these which are allegedly made as a result of any information found on its website.
