Terms &
Conditions
1. Introduction
Welcome to Hola Prime Limited (“we” or “us” or “The Company”). By accessing or using our website at www.holaprime.com or any related sites or mobile platforms under our control (collectively, the “Website” or “Websites”), you, the individual or entity (“Users”, “Customers”, “customers”, or “you”), agree to these Terms of Service. This agreement constitutes a legally binding contract governing your use of all materials, services, and products available through our Website (www.holaprime.com).
2. Your Agreement
Please review these Terms of Service carefully before using our Website. By using or accessing any part of the Website, you consent to be bound by these Terms. If you do not agree to these terms, you must not use our services or visit our Website.
3. Eligibility
Our services are only available to individuals who are 18 years of age or older. By registering on our Website, you confirm that you are at least 18 years old. If you are under 18, you are not permitted to use our services. Additionally, you are responsible for ensuring that your use of our services complies with applicable laws, which may vary by country.
4. Scope of Terms
These Terms of Service apply to any new features or tools introduced to our Website. The most current version of these Terms can always be found on this page. We may modify these Terms at any time, and your continued use of the Website after changes have been posted constitutes your acceptance of those changes.
5. Definitions
For the purposes of this Agreement, the following terms shall have the meanings set forth below:
5.1 Trading Account: The account set up by the Company to facilitate Trading Activities on behalf of the Customer.
5.2 Simulated Profit: Represents any positive net income generated from Trading Activities after deducting all applicable fees, expenses, and realized losses.
5.3 Confidential Information: Includes all proprietary data, trading strategies, methodologies, algorithms, market analyses, and client information belonging to
the Company, regardless of the medium in which such information is stored or conveyed.
5.4 Hola Prime Account Allocation: The specific amount of funds provided by the Company to the Customer for the purpose of conducting Trading Activities.
5.5 Performance Metrics: The criteria established by the Company to evaluate the Customer’s performance, which may include profit margins, maximum daily
loss limit, and adherence to risk management protocols.
5.6 Risk Management Policies: The guidelines established by the Company to manage exposure to losses, including position sizing, stop-loss orders, maximum
daily loss limit, and other related practices.
5.7 Business Day: A day for a proprietary trading firm is any day when the firm is open for trading activities, typically excluding weekends and public holidays.
5.8 Contract: Means this Agreement as well as any other agreement, contract, instrument or document of any kind or nature, as to which, in each case, the
Customer is a party, has any obligations or holds any rights, and Hola Prime is a party, has any obligations or holds any rights, regardless of how documented
and whether written or oral, together with all such purchases and sales, agreements, instruments and other documents, including, without limitation, payment
and delivery obligations, obligations relating to the extension of credit or to pay damages (including costs of cover) and payment of legal and other expenses
incurred in connection with the enforcement of Contracts.
5.9 Terms and Conditions: means the General Terms and Conditions of Hola Prime Limited.
Any other term not covered above, shall be considered to have the same meaning/definition as in general understanding of the term, as per the industry
standards.
6. General Terms
The Company always reserves the right to refuse service to anyone at any time without specifying any reason. The Customer acknowledges and permits that their content (except for credit card information), which is not of a sensitive nature, may be transferred unencrypted and involve (a) transmissions over various networks; and (b) changes to conform and adapt to technical requirements of connecting networks or devices. Credit card information is always encrypted during transfer over networks.
Further, without the Company’s express written consent, the Customer agrees not to reproduce, duplicate, copy, sell, resell, or exploit any part of the Service, use of the Service, or access to the Service or any contact on the website through which the Service is provided.
7. Customer’s Rights and Responsibilities
7.1 The Customer agrees that Hola Prime Limited may conduct background checks and reserves the right to decline any agreement for any reason, including incomplete or misleading information.
7.2 The Customer acknowledges the inherent risks of trading and has no ownership rights to any assets in the Trading Account. The Customer must be proficient in English for all communications.
7.3 The Customer agrees to provide current, complete, and accurate purchase and account information for all purchases made at the Provider’s site. The Customer also agrees to promptly update their account and other information, including email address, credit card numbers, and expiration dates, so that the Company can complete transactions and contact the Customer as needed.
7.4 The Customer agrees that:
- Communications will be professional.
- Hola Prime Limited may monitor these communications.
- There is no expectation of privacy in materials related to Hola Prime Limited.
- Compliance with applicable policies is required.
7.5 The Customer is an independent contractor, not an employee of Hola Prime Limited, and is solely responsible for tax obligations. Hola Prime Limited will not withhold taxes, and the Customer may engage with other trading entities as long as it complies with this Agreement.
7.6 The Customer agrees not to make false statements about Hola Prime Limited or its affiliates.
Data Security
Hola Prime is committed to implementing robust and comprehensive procedures that comply with legal and regulatory requirements related to Know Your Customer (KYC), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD).
8.1 The goals of KYC procedures are to:
8.1.1 Establish an efficient process for identifying and evaluating potential Customers.
8.1.2 Minimise the risk of money laundering.
8.1.3 Support the identification of suspicious transaction.
8.2 The Company will perform KYC measures for all proposed transactions and business relationships, which include, but not limited to, the following:
8.2.1 Verify the Customer’s identity using original or properly certified documents. After successfully completing the challenge phases, the KYC verification process will be initiated first.
8.2.2 The Customer will be asked to submit specific documents, which may include valid photo IDs such as:
- National ID
- Passport
- Driving Licence
8.3 KYC verification will not be completed if expired documents are submitted. Only current and valid documents will be accepted to proceed.
8.4 After collecting the necessary documents, the Customer will be directed to the “Agreement Signing” stage, where they must provide their full name and address and agree to the terms of the agreement. The verification process will then begin, which may take 48-72 hours.
8.5 Strict compliance with these measures is required. The Company reserves the right to refuse or terminate any business relationship with a Customer if the CDD, EDD, or KYC criteria are not satisfactorily met.
8.6 Please note that failing to pass the KYC verification process will result in the rejection of the Customer’s Account application.
Multiple individuals attempting KYC verification for the same account is strictly prohibited. In such an instance, the Company reserves the right to terminate the account immediately.
9. Customer Due Diligence:
This is a necessary process for initiating and maintaining relationships with Customers. It includes:
9.1 Collecting verifiable identification information from Customers
9.2 Understanding the intended nature and purpose of the Customer’s trading activities.
9.3 Continuously monitoring trading activities
10. Enhanced Due Diligence:
For business relationships or transactions deemed higher risk, as identified by the Company’s standard risk assessment procedures, additional measures shall be implemented. These additional measures go beyond standard CDD requirements and include:
10.1 Obtaining extra identity verification documents
10.2 Conducting a detailed interview, potentially through a video call, to engage directly with the Customer and assess their legitimacy.
10.3 Gaining deeper insight into the Customer’s trading methodology to ensure it aligns with our risk tolerance and ethical standards set by the Company
10.4 Implementing enhanced and ongoing monitoring of the Customer’s trading activities.
11. Disclaimer
Our services do not constitute investment advice or recommendations. We do not provide guidance or instructions on trading or investments, nor do we accept such advice from you. Any statements made by our employees or representatives should not be construed as investment advice, and we disclaim any responsibility for such statements. If any information or statement of the the Company’s employees, staff, or representatives is interpreted as investment advice or recommendations, the provider explicitly disclaims that such information or statement is investment advice or recommendations and shall not be responsible for them. None of the services offered to the customer by the provider should be interpreted as investment services. The Company does not offer any advice, instructions, or information regarding how the customer should execute transactions using the services or in any other context, nor does it provide similar information about the investment tools being traded. Furthermore, the Company does not accept any such advice, instructions, or information from the customer.
12. REFUND POLICY
12.1 Termination Request from the Customer:
If a customer wishes to terminate their account, they must write to us at contactus@holaprime.com Once the same is acknowledged, and accepted, the customer will lose all access to their trading accounts and web portal. In such cases, the Customer will not be eligible for any refund of subscription fee.
12.2 Termination due to Prohibited Trading:
If the Customer engages in prohibited trading activities, the Company reserves the right to immediately restrict access to all Services and terminate the Customer’s account, without compensation. There would be no requirement for prior warning, and no refunds will be issued for any fees paid in such cases.
12.3 Refunds:
Refund requests must be submitted within 14 days of registration, provided no trading activity has occurred. Once trading begins, fees become nonrefundable, with no possibility of partial or full refunds.
13. Service Modifications
We reserve the right to modify or discontinue any product or service at our discretion without prior notice. Changes may include alterations to product descriptions or pricing. We do not guarantee that our products or services will meet your expectations or be error-free.
14. Third-Party Payment Processing
Payments processed through third-party services are subject to the terms and conditions of those services. It is your responsibility to review and accept these terms before making a payment.
15. Purchase Details
You agree to provide accurate and complete information for any purchases made through our Website. You are responsible for updating your account information to ensure that transactions are completed successfully.
16. External Links and Tools
Our Website may include links to third-party sites or tools not controlled by us. We are not responsible for these third-party resources or their content. Use of any third-party tools is at your own risk and subject to the third party’s terms.
17. Errors and Omissions
Occasionally, our Website or services may contain errors or inaccuracies. We reserve the right to correct any such errors or inaccuracies and update information as needed. If incorrect information affects a purchase, we may cancel or adjust the transaction.
18. Changes to the website
We may update the content on our Website from time to time, but its content is not necessarily complete or up-to-date. Any of the material on the Site may be out of date at any given time, and we are under no obligation to update such material.
19. Security
While we will investigate significant security breaches, we are not liable for any unauthorized access to your account. You are responsible for maintaining the confidentiality of your account credentials and reporting any unauthorized use immediately.
20. Prohibited Uses
Hola Prime strictly prohibits any kind of exploitation of the platform. Traders should read all Terms and Conditions carefully before using our platform. The conditions below apply to all accounts and plans, whether in challenge or funded phases.
20.1 Hyperactivity/Excessive Trading
If there is an excessive level of trading by the trader, whether through too frequent trades or rapid modification to pending trades, Stop Loss, Take Profit, etc which leads to too much risk being taken on the entire account balance, it will be considered as a breach of our terms and will result in account termination.
20.2 Account or Device Sharing
If a trader shares their Hola Prime account or the device on which they are using Hola Prime, resulting in sharing the Hola Prime account or selling it, it will be considered a direct breach of our Terms of Service. To ensure fairness towards all clients, there is a Zero tolerance policy towards such behavior.
20.3 Gambling/Speculative Trading
Setting up several buy and sell orders at various price points both above and below the current market price, to take advantage of price changes is prohibited. When the market rises and falls, hitting different price points, it raises risk because numerous losses can occur at once from a significant market movement in one direction. Hence, it is prohibited to use this tactic. For instance: If a trader sets several buy orders at $150, $155, and $160 and multiple sell orders at $170, $175, and $180. The trader makes money if the market moves between these levels. However, all of the buy orders will lose equity if the market falls sharply below $150, resulting in huge losses.
Similarly, continuous buying or selling of any instrument without taking into account technical signs, economic indicators, or fundamental news that could point to a future price gain or drop is a kind of betting with unfavorable risk-reward ratios. Because of its speculative nature and substantial loss risk, entering into these sorts of trades is prohibited. For Instance- If a trader consistently buys a specific instrument without taking into account any potential risk or signs of an impending market decline. They run the risk of suffering substantial losses if the instrument’s price drops unexpectedly due to their lack of diversification.
20.4 Arbitrage trading
It is prohibited to take advantage of price differences or delays across several marketplaces or platforms in order to make gains without taking any risks or fair market analysis as it is an unethical practice and works against fair market conditions.
20.5 Using Expert Advisors and algorithms
It is allowed for traders to employ their own or the same EA or indicator as other traders, but it is essential to customize the settings to differentiate their trades from others.
If a trader intends to use a 3rd party trading robot (Expert Advisors – EAs), it must be kept in mind that there might be other traders already using the same EA and therefore the same strategy. In case 2 traders’ EA settings are similar, the traders might be denied a Funded account, or the existing funded account shall be terminated if the maximum capital allocation amount is exceeded.
If an EA causes hyperactivity to a platform server, we might alert the trader and ask to adjust the EA logic or parameters of the strategy. Additionally, traders need to make sure that EA does not follow any restricted strategies as the concerned team can track EA’s activity.
20.6 Copy Trading
It is allowed for traders to engage in copy trading from one account to another Hola Prime account, provided that the accounts are owned by the same individual. However, copy trading between multiple accounts not owned by the same individual, including those of relatives, family members, or friends, is strictly prohibited.
In addition, the following activities are also prohibited:
It will be deemed copy trading and a breach of our conditions if a sizable portion of a trader’s trades are identical to those of one or more traders based on the following- opening price, closing price, lot size, lot ratio, symbols, etc. This could also indicate group trading, signal services, passing services, or any other service that bypasses individual strategies which are not allowed. In such a scenario, all associate accounts will be immediately terminated.
20.7 Hedging or executing reverse trades
It is allowed to hedge or open buy or sell trade in the same instrument inside the same trading account. However, it is prohibited to open buy and sell trades in the same instrument across many accounts or in a group.
For Instance: It is prohibited to hedge a trade over two accounts by buying one lot of EUR/USD on Account-1 and selling one lot of EUR/USD on Account-2 at the same time by the same trader.
20.8 Tick Scalping or High-Frequency Trading (HFT)
It is not allowed to use sophisticated expert advisers, algorithms, and fast communication networks to profit from small price fluctuations by executing a high volume of trades within a short time frame because of its potential for market manipulation and disruptive trading activities.
By making trades extremely quickly, these algorithms are able to profit from even the slightest price swings, giving them an unfair edge over other traders. These algorithms strain market liquidity by the quick influx of orders and subsequent cancellations. Owing to this several traders might not get their trades executed at fair pricing.
If our Risk Management Team detects that a trader’s trading constitutes Prohibited Trading practices, their participation in the program will be terminated and will result in forfeiture of any accrued trader payout, and fees paid to the Company.
Before any Trader shall receive a funded account, the trading activity of the Trader under these Terms and Conditions shall be reviewed by the Prop Firm’s Risk Management Team to determine whether such trading activity constitutes Prohibited Trading. In the case of Prohibited Trading, the Trader shall not receive a funded account.
20.9 News Trading
Pro Accounts (Funded only)-
It is normally allowed in Challenge Phases 1 and 2. However, in the funded accounts, traders can hold trades at any time but are not allowed to execute (open or close) any trade on the instruments affected by high-impact news, during the window of 3 minutes before to 3 minutes after the release of such news. Please note that the execution of trade includes market execution as well as pending orders, including Stop Loss and Take Profit orders.You are allowed to hold trades on the affected instruments opened 3 minutes prior to the news release. If your Stop Loss or Take Profit is activated during this window of 3 minutes before and 3 minutes after, it may be taken as a violation of the Hola Prime Agreement.
Other non-targeted instruments (affected by low and medium-impact news) can be traded normally.
For Instance: You can trade AUDNZD during the US – CPI release. However, you are not allowed to open or close USDJPY or GBPUSD during the window of 3 minutes before to 3 minutes after the CPI release.
For example: There is a High Impact news speech scheduled at 03:00.
- Condition I: You are not allowed to open or close any trade (including limit, stop, TP & SL of any trade) between 02:57 & 03:03.
- Condition II: If you are opening the trade before 2:57 and closing (including limit, stop, TP & SL of any trade) at any time between 02:57 & 03:03 it will still be considered violation of our Terms of Service.
- Condition III: If you are opening the trade before 02:57 and closing the same trade after 03:03, the trade will be considered valid and the profit will be counted.
For news announcements affecting USD, the restriction applies for Forex pairs with USD currency involved including the Indices offered, namely US30, NAS100, and SPX500.
Note: Trades can be held during any news event- High, Low, or Medium. The news release schedule and their impact levels can also be monitored in our Economic Calendar within the Client Portal. Trades with 3 blue bars are high Impact, 2 bars are medium Impact, and 1 bar is low Impact.
20.10 Weekend Holding
Pro Accounts (Funded only)-
Holding of trades over the weekends is normally allowed in Challenge Phases 1 and 2. But for funded accounts, Weekend holding is considered a soft breach, and any trade remaining open at 15:45 EST time on Friday will be automatically closed by the system.Why are trades closed at 15:45 EST?
Traders might get a worse fill if trades were closed at 17:00 EST when the weekend rollover takes place. To avoid these trades are being closed at 15:45 EST. Additionally, it takes us time to go over all accounts and close trades in bulk.
Note: Profit from trades that are closed by the system on Friday will be counted towards the payouts. Similarly, the trader is responsible for the violation in case any loss/deductions result in the breach of the daily loss limit or maximum loss limit in the respective account.
21. Liability Limitation
The company does not guarantee, represent, or warrant that the customer’s use of the service will be free from errors, timely, secure, or uninterrupted. The company does not assure that the results obtained from using the service will be accurate or dependable. The customer acknowledges that the company may suspend the service for indefinite periods or cancel it at any time, with or without prior notice. The customer expressly agrees that their use of, or inability to use, the service is solely at their own risk.
The service, along with all products and services provided to the customer through the company’s offerings, is made available ‘as is’ and ‘as available’, without any representations, warranties, or conditions of any kind, whether express or implied. This includes all implied warranties or conditions of merchantability, quality, fitness for a particular purpose, durability, title, and non-infringement.
Under no circumstances will the company, along with its directors, officers, employees, affiliates, agents, contractors, interns, suppliers, service providers, or licensors, be liable for any injury, loss, claim, or any direct, indirect, incidental, punitive, special, or consequential damages of any kind. This includes, but is not limited to, lost profits, lost revenue, lost savings, loss of data, replacement costs, or similar damages, regardless of whether the claim is based in contract, tort (including negligence), strict liability, or otherwise. This applies to any damages arising from the customer’s use of the service or any products obtained through the service, or for any other claims related to the customer’s use of the service or any product, including, but not limited to, errors or omissions in any content, or any loss or damage incurred as a result of using the service or any content (or product) posted, transmitted, or otherwise made available via the service, even if advised of the possibility of such damages.
Because some states or jurisdictions do not allow the exclusion or limitation of liability for consequential or incidental damages, in such states or jurisdictions, the company’s liability will be limited to the fullest extent permitted by law.
22. Indemnification
The Customer agrees to indemnify, defend, and hold harmless The Provider, along with its parent company, subsidiaries, affiliates, partners, officers, directors, agents, contractors, licensors, service providers, subcontractors, suppliers, interns, and employees, from any claims or demands, including reasonable attorneys’ fees, made by any third-party due to or arising from the Customer’s breach of these Terms of Service, the documents incorporated by reference, or the Customer’s violation of any law or the rights of a third-party.
23. Severability
If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions will remain in effect. The invalidity of one provision does not affect the validity of the other provisions.
24. Payment Disputes
If disputing a payment negatively impacts our standing with payment processors, we may suspend or terminate your account. Accounts with disputed transactions may be refunded or barred from further use.
25. Agreement
Failure to enforce any provision of these Terms does not constitute a waiver of that provision. These Terms, along with any posted policies, represent the entire agreement between you and us regarding your use of the services.
26. Termination
26.1 Notice Period:
Either party may terminate this Agreement at anytime in written notice to the other party.26.2 Termination for Cause:
The Company may terminate this Agreement immediately for cause, including but not limited to:- Breach of this Agreement by the Customer.
- Engagement in fraudulent, unethical, or illegal trading practices.
- Failure to comply with Company policies or applicable laws.
27. Force Majeure
27.1 Hola Prime Limited shall not be liable to the Customer for any claims, losses, damages, costs, or expenses, including attorneys’ fees, that are caused directly or indirectly by certain events or circumstances.
27.2 Such events may include, but are not limited to:
- Civil unrest
- War or insurrection
- International intervention
- Government actions (e.g., exchange controls, confiscations, nationalisations, devaluations)
- Natural disasters or acts of God
- Unfavorable market conditions
- Inability to communicate with relevant parties
- Delays, disruptions, failures, or malfunctions of any transmission or communication systems or computer facilities, whether these belong to:
- Hola Prime Limited
- The Customer
- Trading platforms
- Third-party service providers
In summary, Hola Prime Limited is not responsible for any losses or damages resulting from these extraordinary events or circumstances.
28. Legal Compliance
By using the Website, you acknowledge and agree that:
28.1 You possess the necessary authority to accept these Terms of Service;
28.2 Your use of the Website will strictly adhere to the allowed activities outlined in these Terms of Service;
28.3 You will not infringe upon or misuse any User’s or third party’s confidentiality or intellectual property rights;
28.4 You will ensure compliance with all applicable local, provincial, and federal laws, as well as any policies published on the Website.
28.5 Your use of the Website should be exclusively for lawful purposes, following the guidelines set out in these Terms of Service and any notices or conditions provided on the Website.
28.6 If you use the Website on behalf of others or to offer services to others, you must ensure you have the proper authorization and that all individuals or entities served follow and agree to these Terms of Service.
29. Modifications to These Terms of Service
We may update and revise these Terms of Service periodically. We retain the right to modify these Terms of Service at any time, with any changes becoming effective as soon as they are posted on the Website. We will attempt to notify you of significant changes at our discretion, either through email or via notifications on the Website. Continued use of the Website following any changes will be considered as your immediate and unconditional acceptance of the revised Terms of Service, regardless of whether or not we have identified the changes as significant.
30. Contact Us
For any questions or concerns, please contact us at contactus@holaprime.com or visit www.holaprime.com.