Terms of Use

These Terms and Conditions ("Terms") govern your access to and use of the website dalvoxcapital.com and the software products (Expert Advisors, or "EAs") offered by Dalvox Global Systems, S.L.U. (trading under the commercial brand "Dalvox Capital"; hereinafter "Dalvox", "we", "us", or "our"), a company incorporated in Spain.

Please read these Terms carefully before purchasing any product. By completing a purchase or by downloading and installing our software, you agree to be bound by these Terms. If you do not agree, you may not use our services or our software.

1. Earnings and Risk Disclaimer

Please read this section carefully. It is essential to understanding what you are purchasing.

Our products are software tools that automate the execution of trading strategies on the MetaTrader platform. They are not financial advice, investment advice, signals, or an account-management service. We do not manage your funds, we do not have access to your trading account or your money, and we do not execute trades on your behalf. Nor do we run or host the Software for you, manage for you the computer or virtual private server on which you run it, copy trades from another account into yours, or configure or adjust the Software for any particular customer: each product is delivered identically to all its users. You operate your own account, with your own broker, under your sole control and responsibility.

Trading foreign exchange ("forex") and contracts for difference ("CFDs") on margin carries a high level of risk and may not be suitable for everyone. You could lose part or all of your invested capital. You should not trade with money you cannot afford to lose.

No result is guaranteed. There is no assurance that any account will achieve profits or losses similar to the results, backtests, or examples shown on this website or in our materials. Past performance and hypothetical or simulated results are not necessarily indicative of future results. Hypothetical and backtested results have inherent limitations: unlike an actual performance record, they do not reflect real trades and may under- or over-compensate for market factors such as lack of liquidity, and they are designed with the benefit of hindsight.

You accept full responsibility for your investment decisions, results, profits, and losses. Dalvox and its owners are not liable for trading losses caused by market conditions, your broker, your configuration, or your own decisions. This section does not limit the legal guarantee of conformity of the software (Section 5) or the cases in Section 10 in which the law does not allow liability to be excluded or limited.

The Software is a complex automated-execution tool whose behaviour depends critically on the user's configuration, the chosen broker, latency conditions, and account parameters.

For this reason, Dalvox expressly recommends that the User run the Software on a demo (DEMO) account with virtual money for a minimum of fourteen (14) calendar days, on the same broker and with the same configuration intended for the live account, before connecting it to an account with real funds. The User acknowledges having received this recommendation.

The purpose of this recommendation is for the User to verify for themselves, at no financial risk, the compatibility of the Software with their environment, the correctness of their configuration, and the suitability of the strategy to their risk profile. The licence may be used on a DEMO account at no additional cost. It works on only one account at a time: when the Software connects to another account, it stops working on the previous one.

The foregoing is without prejudice to the legal guarantee of conformity and to the mandatory rights that consumer legislation grants the User, which are not excluded or limited by this clause.

You undertake not to use the software in breach of the laws applicable to you or of your broker's terms. We are not responsible for your failure to comply with applicable local or international laws.

2. The Seller (Dalvox) and the Registered Merchant for Payment, Stripe

Your purchase gives rise to a contract of sale and licence between you and Dalvox Global Systems, S.L.U., as seller and provider of the Product, governed by these Terms, covering the Product, its functionality, its updates, and its support. To collect payment, Dalvox uses Sold through Link, LLC (a Stripe group company; hereinafter, “Stripe”), with address at 354 Oyster Point Boulevard, South San Francisco, California 94080, United States, which acts as Merchant of Record with a scope limited to payment, invoicing, taxes, and chargebacks. As seller and provider of the software, Dalvox is the party responsible to you for the purposes of consumer protection.

The terms of sale through Stripe and Stripe's privacy policy are available at https://link.com/terms#sold-through-link-terms and https://link.com/privacy.

Where these Terms govern refunds, they describe Dalvox's obligations arising from the licence relationship; the material execution of any monetary refund is carried out by Stripe.

Our order and payment process is handled through our payment provider, Stripe. Stripe processes payments and, as part of that service, calculates, collects, and remits the applicable taxes on our behalf, filing the required returns. For these transactions, Stripe acts as the party responsible for the applicable tax, and the invoice issued through Stripe identifies it as such.

Stripe acts as the Registered Merchant for the collection of all purchases made through this website: it issues the invoice or payment receipt and is the party you should contact for billing questions, payment disputes, or chargebacks. Dalvox is the seller and provider of the Product: it licenses the software to you and is responsible both for the product itself (functionality, delivery, and support) and, towards you, for the purposes of consumer protection. Stripe is responsible solely for the billing and payment relationship.

All prices are tax-inclusive: the price you see at checkout is the total you pay, with any applicable taxes already included.

How the contract is concluded. (1) Choose a pack on the products page and click “Get Started” to open the checkout page. (2) Tick the two boxes —your request for immediate delivery, with the resulting loss of the right of withdrawal, and your acceptance of these Terms— and click “Continue to Payment”. (3) In the secure payment form of Stripe, our Registered Merchant, enter your details and your payment method and confirm the payment; the contract is concluded when the payment is confirmed. (4) We then send you by email the confirmation and access to your client dashboard, from which you download the software and the installation guide; your licence key appears in the dashboard as soon as you download it. Correcting errors: until you confirm the payment, you can review and change any detail in the payment form, untick a box or leave the page, without being charged anything; if you notice an error after paying, write to support@dalvoxcapital.com and we will correct it. Contract record: we keep a dated copy of the Terms you accepted and will send it to you free of charge on request (Section 16). By completing the purchase, you also accept the terms of sale through Stripe and Stripe's privacy policy, available at https://link.com/terms#sold-through-link-terms and https://link.com/privacy.

Language. These Terms are published in Bulgarian, Croatian, Czech, Danish, Dutch, English, Estonian, Finnish, French, German, Greek, Hungarian, Italian, Latvian, Lithuanian, Polish, Portuguese, Romanian, Slovak, Slovenian, Spanish and Swedish. The contract can be concluded in any of these languages: it is concluded in the language of the version of these Terms that you accept at checkout, and that version is the one that applies to you. If you do not act as a consumer, the Spanish version prevails in the event of any discrepancy between versions.

Unless otherwise stated, all prices are displayed and invoiced in EUR (euros).

3. Eligibility Requirements

Age and capacity. Our products and services are available only to persons over 18 years of age (or the age of legal majority in their jurisdiction, if higher) with full legal capacity to enter into a binding contract. By purchasing a product, you represent and warrant that you meet these requirements. We reserve the right to refuse or cancel any purchase that breaches this clause.

Our products are offered for direct purchase on the website. The contract is formed upon purchase, with no application, questionnaire, or prior assessment. We reserve the right to refuse or void a purchase in cases of fraud, breach of these Terms, or applicable legal or geographic restriction.

Territorial scope. For now, we sell only to buyers with a billing address in mainland Spain or the Balearic Islands. Payment must be made from the European Union. If a purchase is completed from outside the European Union, with a billing address outside that scope, or without one, we will void it and refund you the full amount, without any right to use the software arising. If the billing address is outside the European Union, we will not accept new purchases with the same email address for thirty (30) days.

Pre-payment check. For security, before enabling payment we automatically check the connection from which you are purchasing. If that check is not favourable —among other cases, because the connection does not come from the scope indicated or is made through a VPN, a proxy, or an anonymization network—, payment will not be enabled, without our providing further detail about the specific reasons. If you reside within the scope indicated and are affected by this check —because you are travelling, because of your company's network, or because you are required to use a VPN—, write to us at support@dalvoxcapital.com and we will enable your access.

International sanctions. We do not sell to persons or entities listed on the financial sanctions lists of the European Union or the United Nations. By purchasing, you declare that you are not listed on them. If you are listed, or become listed during your subscription, we will not deliver the Software to you, or we will suspend your licence and terminate the contract. Notwithstanding clauses 5 and 12, for as long as those rules prevent it we will not refund the amounts paid: they will remain frozen and at the disposal of the competent authorities, in accordance with those rules.

4. License

Subject to full payment, we grant you a non-exclusive, non-transferable licence to use the purchased Expert Advisor under the following terms:

For these purposes, "non-transferable" means that the licence may not be assigned, resold, or transferred to a third party. It may, however, be reassigned between different trading accounts of the holder themselves, on the terms set out in this section.

Each Expert Advisor is designed, configured, and simulated for a single instrument: a CFD on the S&P 500 index. The published results refer only to that instrument. The Software includes technical protections that stop it, with a notice, if it is started on the chart of another instrument. Circumventing them so that it trades another instrument —for example, by renaming or creating symbols or by altering the Software— is a misuse contrary to these Terms: the Software is not designed or tested for that, its operation in that case does not amount to a lack of conformity, and any losses it causes are borne by you. This does not limit your legal guarantee of conformity or any other right that the law grants you on a mandatory basis.

• One trading account at a time. Each licence may be used on one (1) trading account at a time. The licence is bound to the trading account on which the software is activated.
• Transferring the licence. You may transfer the licence to a different trading account by activating the software on the new account. When you do, the licence transfers to the new account and automatically stops working on the previous one; only one account can use the licence at a time.
• Restrictions. You agree not to reproduce, duplicate, copy, sell, resell, sublicense, distribute, decompile, reverse-engineer, or otherwise exploit any part of the software, or share it with third parties, without our express written permission. This restriction does not prevent the acts that the law allows the lawful user to carry out without authorization, such as making the back-up copy necessary to use the software (Article 100 of the Spanish Intellectual Property Law, Ley de Propiedad Intelectual).
• Ownership. All intellectual property rights in the software belong to Dalvox or its licensors. This licence grants you the right to use the software, not ownership of it.

A serious breach of these licence terms —in particular, unauthorized resale, sharing or assignment, circumvention of the licence limits, the use of multiple identities for that purpose, or any fraudulent use— entitles Dalvox to terminate the licence in accordance with the procedure and safeguards set out in clause 12.

License verification and fraud protection. To ensure compliance with the licence and prevent abuse, the software periodically validates it with our servers, transmitting only the technical and account information strictly necessary for that purpose. If the software cannot validate the licence with our servers, it keeps working for up to forty-eight (48) hours, or until the end of the paid period if that comes first, and then stops opening new trades, although it keeps managing those already open, until the connection is restored. If our servers deny the licence —because it has lapsed, been suspended or blocked, or because it has been moved to another account from another MetaTrader 5—, the software cancels the pending orders it had placed itself and deactivates. If the installed version is no longer supported, it acts as described in the paragraph “Withdrawal of a version of the Software”. If the licence is moved to another account within the same MetaTrader 5, the software can no longer act on the previous account, and its pending orders and open positions remain there with nothing managing them. It never closes open positions. We process this information on the basis of our legitimate interest in protecting our intellectual property and preventing fraud (see our Privacy Policy).

Withdrawal of a version of the Software. We may stop supporting a version of the Software only in the two cases described below. In both, we notify you by email at the address on file in your account, and the new version is available to you in your client dashboard, free of charge, from the day of the notice. The notice states the number of the version or versions being withdrawn and that of the new version (the version number is shown in the robot's properties in MetaTrader 5), the reason from the list below that applies and the facts that show it, and the date and time, in Central European Time (CET or CEST, depending on the time of year), at which the previous version stops working. From that date and time, as soon as a robot still running the withdrawn version checks with our servers, it stops opening new trades, cancels the pending orders it had placed itself, and shows a message asking you to update it. It keeps managing its open positions as it normally does until they close, and then deactivates. Only where the reason for the withdrawal is a fault in the way the robot manages open positions does it deactivate as soon as it has cancelled its pending orders —if the market is closed, when it reopens—, without managing its open positions: they remain at your broker until you install the new version or deal with them yourself, and the robot will not close them at the end of the session, as it normally does; they will only be closed by the stop loss or take profit that each one carried, or by you. In no case does the robot close open positions because of the withdrawal.

(a) Conformity and security. Where the new version is necessary to keep the Software in conformity or secure —for example, to fix an error in the way it trades or a security vulnerability, including a compromised security key or a flaw in the way the Software communicates with our licence-verification servers that would allow a third party to alter what your robot does, to access your data or to interrupt the service for all customers—, the previous version keeps working for at least thirty (30) calendar days from the notice. Only where a serious vulnerability is being actively exploited, or there is a concrete and imminent risk to your trading account, your funds or your data, or to the continuity of the service for all customers, may we set a shorter period, which will never be less than seventy-two (72) hours; the notice will explain why. Where the reason is a compromised security key or a risk to our licence-verification servers, you may also terminate your subscription, with the refund, as described in case (b).

(b) Other changes. Outside case (a), we may require you to move to a new version only for one of the following reasons, and for no other:

(i) to keep the Software working after changes to MetaTrader 5, to your broker's trading servers or to the operating systems on which MetaTrader 5 runs;

(ii) to close a weakness that allows the licence protection to be circumvented, the Software to be used without a valid licence or on more trading accounts than those licensed, or a modified or unauthorised copy of the Software to be run, or to stop supporting a version of which we have detected modified or unauthorised copies in circulation;

(iii) to adapt the Software to a change in the law, to comply with a legal obligation that applies to the Software or to us —including data-protection law, for example where the previous version sends more personal data than necessary— or to comply with a decision of a competent authority or court;

(iv) to adapt it to a change in our licence-verification servers or in their security, such as the renewal or withdrawal of security keys, that the previous version cannot handle, or to prevent the previous version from overloading those servers or being used to attack them;

(v) to correct an error in the operation of the Software not covered by case (a), including one that may expose you or us to claims from third parties, such as your broker; or

(vi) to keep the Software working when a provider on which the Software or its licence depends —such as MetaQuotes, the platform through which we sell or our hosting provider— changes or ends its service, or when we must replace that provider because it has changed or ended its service or no longer meets the legal or security requirements that apply to it.

We will never use this procedure to charge you any amount, or to change the trading strategy of the product you purchased or remove any of its functions, unless the law or a decision of a competent authority or court requires it, in which case the notice will say so.

We will notify you at least thirty (30) calendar days before the previous version stops working. In addition to the information described above, the notice will tell you what changes and what the robot will do at that moment. Only where a weakness under reason (ii), a compromised security key, or an attack on or overload of our servers under reason (iv) is being actively exploited may we set a shorter period, which will never be less than seven (7) calendar days. Where a decision of an authority or court under reason (iii) requires a shorter period, the period will be the one it requires. The notice will explain why, and a shorter period never shortens your right to terminate.

From the notice until thirty (30) calendar days after the date on which the previous version stops working, you may terminate your subscription at no cost by writing to support@dalvoxcapital.com or from your client dashboard. If you do, the licence ends at that moment and we refund the part of the price you paid in advance for the period remaining after termination, in accordance with clause 5 (within fourteen (14) days, by the same means of payment and at no charge to you); if you prefer, you may instead keep the Software until the end of the period already paid for.

A new version that only brings improvements, where none of the reasons in case (b) applies, is optional: your current version keeps working. This procedure does not limit our right to terminate the licence of a specific user who breaches these Terms, which is governed by clause 12.

No transfer, sharing or circumvention. The licence is personal and non-transferable. Reselling, sharing, or using the software on a trading account or device that is not yours, as well as creating or using multiple identities to exceed the licence limits or to evade a suspension or ban, constitutes a serious breach of these Terms.

Linked identities and propagation of blocks. If our fraud-detection systems determine that several accounts or identities belong to the same person or group breaching these Terms, we may suspend or block them all at once, including any person or account we identify as linked to a sanctioned profile, as well as any current or future product, licence, or access to this website. These determinations are made through our internal recognition systems; we do not disclose the specific signals we monitor.

Automated decisions. Some of these blocks are applied automatically, with no human intervention at the moment they take effect, and others are proposed by the system and confirmed by a person: (i) if a licence key is used from a trading account or device that is already blocked, that validation is rejected instantly and the software stops working on that account or device; the key itself is only blocked if a member of our team confirms it, except where a licence is activated for the first time on a trading account already blocked with the same broker: in that case its holder is blocked at that very moment, with all their licences; (ii) if a customer record that shares the trading account, the email address or a technical identifier of the device with an already-blocked record is created or modified, blocking it too is proposed, and a member of our team confirms it; and (iii) if a single IP address requests many non-existent pages or addresses typical of cyberattacks within a short time, or accumulates failed access attempts with invalid passwords or licence keys, its access to the website is temporarily blocked. We handle the rejection in the first case and the blocking in its exception under Article 22(2)(a) GDPR: they are necessary to perform the licence contract, which is validated machine to machine at a speed that does not in practice allow a prior case-by-case review (in the exception, while waiting for a person, the licence could move to another account and charges would continue), and no equally effective less-intrusive means exists. The third is different in kind —it protects a public website against scanning and abuse, applies to visitors with whom no contract exists, and never takes away software you have already paid for, because licence validation is expressly exempt from IP blocks—: it is based on our legitimate interest in the security of our systems (Art. 6(1)(f) GDPR). No special categories of data (Art. 9 GDPR) are used to make any of these decisions.

Your right to human review. As safeguards under Article 22(3) GDPR, if a block is applied to you, you may request its review by writing to support@dalvoxcapital.com at any time while the block remains in place. A member of our team, not an automated system, will reply within fifteen (15) days. You have the right to express your point of view, to be given the reasons for the decision, and to contest it. If the review concludes that the block was not justified, it is lifted. The same route is open if it is an IP block that is preventing you from reaching the website.

We do not disclose the specific technical parameters of our detection systems, as doing so would compromise their effectiveness; the reasons for any decision are always provided and, on request, we will explain to you the procedure and principles applied in reaching it.

Identifier history. For every customer —whether or not blocked— we keep a dated log of the technical and account identifiers that have been associated with their record. It serves so that changing one of them does not by itself break the link we need to enforce the one-account-per-licence rule and to detect the use of multiple identities to circumvent it. Some of these identifiers are stored pseudonymised and some as they are, according to what that purpose requires. The detail of what is stored in each case is set out in our internal record of processing activities, available to the supervisory authority; we do not publish it here because listing precisely which identifiers allow a circumvention to be detected would precisely make it easier to circumvent them. When you exercise your right to erasure, this history is not destroyed immediately: it is blocked on the terms of Article 32 of Organic Law 3/2018 (see our Privacy Policy).

Retention of blocking data. Where a block is applied, we will keep the minimum set of identifiers strictly necessary to keep it effective and to prevent its circumvention, together with the date and an internal reference for the block. Except for blocks on access to the website by IP address, which expire on their own, we do not set a fixed expiry date, because a block that expires on a calendar can simply be waited out; instead we review, at least every five (5) years, whether each block is still necessary, and delete the identifiers of any that is not. For anyone who has never been blocked, we keep no specific block-prevention data. This does not affect the retention of your ordinary customer and billing data, which is governed by the periods and blocks described in our Privacy Policy (in particular, the blocking for the limitation period of Article 32 LOPDGDD when you exercise your right to erasure). If you exercise your right to erasure (see our Privacy Policy), we will keep solely those minimum identifiers, on the basis of our legitimate interest in enforcing these Terms and protecting our systems. The detail is set out in our internal record of processing activities, available to the supervisory authority.

5. Refund Policy

Our products are digital goods delivered electronically. For the purposes of this section, the software is deemed to have been delivered at the moment it becomes available for download in your client dashboard, of which we notify you in the delivery message we send to the email address associated with your purchase. Delivery does not depend on your opening that message, downloading the file, or installing the software. Except where applicable law requires otherwise, and without prejudice to the refund cases set out below and to the rights you have as a consumer, all sales are final once delivery has taken place.

However, in the following limited cases we will provide a refund or a working replacement product:

• The software is not delivered to you after your payment has been confirmed. If you do not receive the delivery message, write to us and we will check: we will review our sending records and, if the message never went out or could not be delivered, we will resend it or provide you with a new download link, at no cost. The fact that our records show the message was sent correctly does not, by itself, close your claim —an email may be held or classified as spam by your provider—, but it does allow us to resolve it by resending it, which is the route that puts the product in your hands soonest; or
• The software is technically defective and does not function as described, and we are unable to resolve the issue within a reasonable time after you report it. We ask that you notify us of the defect as soon as you become aware of it: the sooner we know, the sooner we can fix it, and the passage of time makes it harder to establish what happened. That early notice is not a requirement for claiming, nor does it shorten the legal guarantee of conformity that the law grants you.
• We terminate your licence because we permanently withdraw the product from the market, stop providing the service or cease our activity, giving you at least thirty (30) calendar days' notice by email, except in cases of force majeure, such as a law or a decision of an authority or court that, through no fault of ours, prevents us from continuing to provide it, of which we will notify you as soon as we become aware of it. In that case we will refund in full the amount paid for the affected licence, with no deduction; in the subscription model, the amount for the period already charged and not enjoyed.

Time frame and method of payment. Where a refund is due, it will be carried out without undue delay and, at the latest, within fourteen (14) calendar days from the date you inform us of your decision. The refund will be made using the same means of payment you used for the initial transaction, without any charge being passed on to you as a result of the refund.

Execution of the refund. The management and material execution of the refund is carried out through our Registered Merchant, Stripe, so the credit may appear on your bank account or card under a name beginning with “LINK.COM*” followed by our name. This does not change the fact that the party responsible for the refund towards you remains Dalvox Global Systems, S.L.U.

Licence after a refund. When we refund in full the amount paid for the current period, the licence ends at that moment and the Software stops working, even if the period has not ended. While a dispute over that payment is open with your bank or card issuer, the licence keeps working; if the dispute ends with the amount being returned to you, the preceding sentence applies.

No refunds are provided for trading losses, dissatisfaction with operational performance, change of mind, or failure to use the product, since results depend on factors outside our control — your broker, market conditions, your configuration, and your own trading decisions. As regards change of mind in particular: the software is digital content delivered immediately and, in order to complete the purchase, you tick the checkbox described below, by which you acknowledge that you lose the right of withdrawal in exchange for receiving it instantly; therefore, as soon as you download the software, or link a trading account if you had already downloaded it, no refund for change of mind is available. This does not affect the rights that the law grants you on a mandatory basis, in particular the legal guarantee of conformity.

If you are a consumer resident in the European Union, the law grants you 14 calendar days to withdraw from the purchase without having to give reasons. That right has an exception for digital content not supplied on a tangible medium —that of Article 103(m) of the consolidated text of the General Law for the Defence of Consumers and Users (TRLGDCU)—, and it is the one that applies here. It works as follows: before paying, you tick a separate checkbox by which (1) you expressly ask us to deliver the software immediately, without waiting for the 14 days to elapse, and (2) you acknowledge that in doing so you lose your right of withdrawal; and we then send you, together with delivery, written confirmation of that consent. If any of those three things is missing, you retain your right of withdrawal in full. The rights that the law grants you on a mandatory basis, and in particular the guarantee of conformity, are not affected by this section.

To request a refund under this section, contact us at support@dalvoxcapital.com. If you believe you have been charged in error or that a payment was unauthorised or incorrectly executed, contact us as soon as possible; you may claim within the applicable statutory period (up to thirteen months, Article 43 of Royal Decree-Law 19/2018 (RDL 19/2018)), without prejudice to the specific periods of the legal guarantee of conformity and of withdrawal. That thirteen-month period is the one for claims to your bank or card issuer and does not limit any claim against us.

The model withdrawal form (Annex B to the TRLGDCU), with Dalvox's details, is available at https://dalvoxcapital.com/withdrawal-form.html.

As long as you have not downloaded the software or linked a trading account, and within fourteen calendar days of the purchase, you may withdraw from your client dashboard using the “Withdraw from contract” button, or by email or using the model withdrawal form, without giving any reason; your access then stops and we refund the amount paid in full.

6. Third-Party Platforms

Our software depends on and interacts with third-party platforms, in particular the MetaTrader 5 platform and the broker you choose. We are not responsible for the operation, availability, changes, or discontinuation of such third-party platforms and services, nor for any losses that may arise from them. Your relationship with your broker is solely between you and that broker.

The environment the Software is made for. Each Expert Advisor is designed, configured and simulated for the following environment, and is compatible only with it:

a) MetaTrader 5, open and connected to your broker and to the internet for as long as you want the Software to trade —for example, on a computer or a virtual private server that stays switched on—, with the "Algo Trading" button switched on and with the address https://dalvoxcapital.com allowed under Tools > Options > Expert Advisors > "Allow WebRequest for listed URL", which the Software needs to verify the licence (Section 4);

b) a hedging account, without FIFO rules and allowing opposite positions, on which the broker allows Expert Advisors to trade and on which that Software has no trades or pending orders of its own on another symbol, logged in to MetaTrader 5 with the account's main password, the one that allows trading, and not with the read-only password that some brokers call the "investor" password: with the latter the Software can see the account, but cannot trade; and

c) the H1 chart of a CFD on the cash S&P 500 index —not on a specific futures month, nor a share, a fund or a custom symbol—, whose price is at the level of the index itself, whose trading is not disabled and which accepts buy-stop and sell-stop orders with a stop loss.

If the account or the chart do not meet points b) or c), the Software does not start, or stops, and shows a message stating the reason; if point a) is not met, the Software does not trade, or stops opening new trades, until it is met.

Broker requirements the Software relies on. In addition, the Software relies on the following broker conditions, which you can see in your account details and in the symbol specification:

i) Leverage: at least 1:10 for Starter and Advanced, and at least 1:20 for Pro, Elite and Institutional. With less, the Software does not open the trades for which there is not enough free margin.

ii) Trading hours: the CFD must trade almost 24 hours a day from Monday to Friday, with a single short daily break of between 45 minutes and 3 hours, like the S&P 500 futures market. With other hours, for example only those of the New York stock exchange session, the Software cannot follow the hours of the simulation; if it cannot identify the broker's trading hours, it does not open new trades and tells you so.

iii) Trade size: the Software risks 1% of the account balance on each trade, not counting any commission charged by the broker, so the real risk is higher, and it sizes trades in multiples of 0.1 lots. If even the smallest possible trade —0.1 lots, or your broker's minimum lot or lot step if larger— would risk more than that 1%, the Software does not open it and tells you the approximate balance needed.

iv) Minimum distance for orders and stops: the Software is made to trade with no minimum distance (0 points). If your broker requires one, the Software does not place orders whose entry, stop loss or take profit would be closer to the price than that distance, and your broker may reject stop changes that breach it; because of this, the Software may skip entries that the simulation did take.

If your account, the chart or your broker do not meet points a) to c) or requirements i) to iv), the Software does not trade or does not take the affected trades, and its results may differ from the simulations and cause you losses; we are not liable for those differences or those losses. We are liable where the cause is a defect of the Software itself, an error in our instructions or incorrect information from us, and this paragraph does not limit your legal guarantee of conformity, your right to compensation for a lack of conformity or the cases in Section 10. Before buying, you can check all these points in MetaTrader 5 (account details and symbol specification) and, before trading with real money, on a demo account with the same broker (Section 1). If the Software does not recognise a symbol that is in fact a CFD on the cash S&P 500 index, write to us and we will review it. Your broker's other conditions and acts are governed by the first paragraph of this Section.

Cooperation. If you report a lack of conformity to us, we will ask you to help us determine whether its cause lies in your digital environment, using only the least intrusive technical means available. What helps us: screenshots of the account details and of the symbol specification, the MetaTrader 5 "Experts" and "Journal" logs for the days concerned, and the trade history for those days. We will process what you send us only for that purpose (see our Privacy Policy). We never provide remote-control assistance, and we will never ask you for access to your computer or your account, or for any password. If your environment does not meet the requirements above, or if you refuse to cooperate, the burden of proof is governed by Article 121(3) and (4) of the consolidated text of the General Law for the Defence of Consumers and Users and by the equivalent rules of your country of residence.

7. Product and Price Modifications

The price of our products may change. Any price change constitutes a modification of these Terms and is communicated in accordance with Section 16: with a minimum of thirty (30) calendar days' notice before it takes effect and, in the subscription model, together with the fifteen (15)-day renewal notice, so that you know the new amount before you are charged and can terminate the contract at no cost. No price change affects a period already paid for.

The discontinuation of a product does not revoke licences already granted; holders of active licences retain the right to use the latest version delivered to them.

Support and updates. During the term of your licence or subscription, Dalvox provides the updates necessary to keep the Software in conformity under the legal guarantee for digital content and services (Royal Legislative Decree 1/2007). Dalvox does not undertake to develop new versions or improvements of the product. If Dalvox discontinues the product, the subscription stops renewing, with at least thirty (30) calendar days' notice by email, except in cases of force majeure, such as a law or a decision of an authority or court that, through no fault of its own, prevents Dalvox from continuing to offer it, of which it will notify you as soon as it becomes aware of it, and Dalvox keeps the Software in conformity until the end of the period already paid for. If it ceases its activity before that period ends, it refunds you in full the part not enjoyed, in accordance with Section 5.

Fixing faults. If the Software is not in conformity with the contract, we will bring it into conformity at no cost to you, within a reasonable time from when you inform us and without significant inconvenience to you, normally with a corrected version (Section 4). You may demand a proportionate price reduction or termination of the contract in the cases provided for by law, including: where bringing it into conformity is impossible or disproportionate; where we do not do so within a reasonable time; where the lack of conformity appears despite our attempt to fix it; where it is so serious as to justify an immediate price reduction or termination; or where we declare, or it is clear, that we will not fix it within a reasonable time. Termination is not available if the lack of conformity is minor, which it is for us to prove. In any event you keep your right to compensation for the damage the lack of conformity causes you. If we inform you of a version that fixes a lack of conformity, of how to install it and of what happens if you do not install it, and you do not install it within a reasonable time, we are not liable for the lack of conformity caused solely by its not having been installed, unless this is due to shortcomings in our instructions.

Emergency pause. We may remotely pause, from our servers, the robots of one or more versions or packs only where one of the following reasons applies, and for no other:

(i) a fault in the Software that is causing, or may in a concrete and imminent way cause, orders that do not follow the product's strategy —for example, with a size, direction, symbol, price or stop loss other than the correct ones, or duplicated—;

(ii) a fault in our licence-verification servers that causes the robots to receive wrong responses;

(iii) a vulnerability in the Software or in those servers that is being actively exploited, or a compromised security key, that would allow a third party to alter what your robot does or to access your data; or

(iv) a decision of a competent authority or court that requires it.

We will never use it for commercial reasons, because of market conditions or to change the trading strategy of the product you purchased, or against a specific user for their conduct, which is governed by clause 12.

Versions that do not include this function —as stated in each version's note in your client dashboard— cannot be paused in this way: in the same cases and with the same notice, we can only deactivate them, and they then behave as described for a withdrawn version in Section 4, without waiting for the periods in that paragraph.

We will notify you without delay by email, at the address on file in your account, of the reason and the facts that show it, of what your robot does and what you should do with your positions and orders, and of when we expect to lift the pause. We lift it as soon as the reason ceases or the corrected version is available in your client dashboard; if you need to install a new version for that, we will tell you.

For each calendar day or part of a day that the pause lasts, or the deactivation in the previous paragraph until the corrected version is available, we refund you the proportional part of the fee for that period, without your having to ask, in accordance with clause 5. If the pause lasts more than seven (7) calendar days, you may also terminate your subscription at no cost, with a refund of the part of the price paid in advance that corresponds to the remaining period. The pause does not limit any of the rights the law grants you for the lack of conformity that gives rise to it, including compensation for the damage it causes you.

8. Accuracy of Information

We make every effort to ensure that the product descriptions and information on our website are accurate. However, we do not warrant that the descriptions, prices, or other content are error-free, complete, or up to date. We may correct errors or omissions on the website at any time. If an error affects an order already placed, we will inform you and you may choose between keeping the order on the correct terms or cancelling it with a full refund of the amount paid.

9. Prohibited Uses

You may not use our software or website to: pursue unlawful purposes; infringe laws or regulations; violate our intellectual property rights or those of third parties; transmit malware or malicious code; collect or track the personal information of others; send spam, carry out phishing, or scrape data; or interfere with or circumvent the security measures of the service. We reserve the right to cancel your access for any prohibited use.

10. Disclaimer of Warranties; Limitation of Liability

The Software and all products and services are supplied with the legal guarantee of conformity that the applicable consumer legislation establishes for digital content and services; this guarantee is neither excluded nor limited. We do not guarantee trading results, profitability, or fitness for a specific objective: performance depends on market conditions, your broker, your configuration, and your decisions. Our liability concerns defects in the Software itself and does not extend to losses arising from market conditions, your broker, your configuration, your own decisions, or interruptions, changes, or blocks imposed by the underlying platform (for example, MetaTrader).

The Software is a complex automated-execution tool whose behaviour depends critically on the user's configuration, the chosen broker, latency conditions, and account parameters.

The foregoing limitations do not apply in cases of wilful misconduct or gross negligence by Dalvox, nor in respect of personal injury, nor in respect of the mandatory rights that consumer legislation grants the User.

The Software is delivered as a complex software tool. Although we apply strict quality controls, the User accepts that no software is completely free of technical errors, bugs, or downtime.

Nothing in these Terms excludes or limits liability that cannot be excluded or limited under applicable law, including mandatory consumer-protection rights.

11. User Liability to Third Parties

The User shall be liable to Dalvox for the direct and actually proven damages caused to it as a result of a culpable breach of these Terms attributable to the User, of unlawful use of the Software or the website, or of the User's infringement of third-party rights, including the directly resulting costs that Dalvox must reasonably bear on that account. This obligation is confined to damages directly caused by the User's conduct and does not apply to the extent that the damage arises, wholly or partly, from an act or omission attributable to Dalvox. This clause is without prejudice to the rights that mandatory consumer-protection legislation grants the User.

12. Term and Termination

These Terms remain in effect for as long as the User holds a licence and until either party terminates them. Dalvox may terminate or suspend the User's access and licence where the User breaches these Terms, in accordance with the procedure and safeguards set out below. Obligations and liabilities incurred before termination survive it.

Advance payment and non-payment. Each monthly fee is paid in advance and is the condition for using the Software during the month it covers. If the charge for a renewal fails (for example, because the card is declined, has expired or has insufficient funds), the User's access will be suspended that same day and we will notify them by email. We will retry the charge over the following fifteen (15) calendar days. As soon as it is collected, access will be restored, and the paid month and the User's next billing date will start counting from that day. If it has not been possible to collect it within that period, the subscription will end without further formality. The User may subscribe again at any time.

Where the User breaches these Terms —in particular in cases of fraud, resale, sharing, or circumvention of the licence limits, or of a threat to the security or rights of third parties—, Dalvox may immediately suspend or terminate their access and licence. We will inform the User, without undue delay, of the reasons for the decision, and they may request its review in accordance with the procedure set out in clause 4 (review by a member of our team and the right to submit representations).

If Dalvox terminates the contract for a breach attributable to the User, it will refund the unused portion of the current billing period. This does not prevent Dalvox from claiming, through legal channels, the damages that the breach has caused it. However, where a new period is charged after a suspension or termination has already been decided, that amount will be refunded in full, as it corresponds to a period that is never provided. If termination occurs for a cause not attributable to the User, Dalvox will refund in full the amount paid for the affected licence, with no deduction; in the subscription model, the amount for the period already charged and not enjoyed, in accordance with clause 5.

The Software automatically manages the orders and positions that it opens itself only while the licence is in force and while it is running on the trading account to which it is linked. Where the licence lapses or is suspended —on expiry, non-payment, cancellation or full refund of the subscription, on termination or blocking decided by Dalvox in accordance with these Terms, or because the User has themselves linked the licence to a different trading account—, the Software will cease trading and will deactivate.

From that moment, all orders and positions remaining in the User's account, whether open or pending execution, are their sole responsibility. The Software will not close them or continue to manage them (such as tracking dynamic stops or trailing stops); it only cancels, on deactivating, the pending orders it had placed itself, in the cases set out in Section 4. Dalvox is not liable for their financial outcome. Although stop-loss orders previously placed on the broker's server will run their natural course, it is for the User to monitor their trading account and to take without delay whatever decisions they consider appropriate, including closing out positions or withdrawing pending orders.

The trading account remains at all times under the User's exclusive control and subject to their contractual relationship with their broker. The foregoing is without prejudice to the legal guarantee of conformity and to the rights afforded to the User by mandatory consumer legislation.

13. Severability

If any provision of these Terms is found to be unlawful, void, or unenforceable, the unenforceable part shall be severed without affecting the validity of the remaining provisions.

14. Entire Agreement

These Terms, together with the Privacy Policy, the Cookie Policy, and the Legal Notice, accessible from the footer of every page of this site, constitute the entire agreement between you and us regarding the use of our services and software, and supersede any prior agreement.

15. Governing Law and Jurisdiction

These Terms are governed by and construed in accordance with the laws of Spain.

If you act as a consumer, this choice of law does not deprive you of the protection afforded by the mandatory provisions of the law of your country of habitual residence. Any action brought by Dalvox against you shall be brought before the courts of your domicile; you may bring an action against Dalvox, at your choice, before the courts of your domicile or those of Spain.

If you do not act as a consumer, the parties submit expressly to the courts and tribunals of Madrid, Spain.

If you reside in Hungary, you may refer the matter to the Budapest Conciliation Board (Budapesti Békéltető Testület), with its seat at 1016 Budapest, Krisztina krt. 99. I. em. 111. (correspondence address: 1253 Budapest, Pf.: 10.; telephone: +36 (1) 488-2131; website: https://bekeltet.bkik.hu/), or to the conciliation board of your place of residence or the one of your choice.

If you reside in the Czech Republic, the competent alternative dispute resolution entity is the Czech Trade Inspection Authority (Česká obchodní inspekce), https://coi.gov.cz/.

If you reside in Portugal, consumer disputes whose value does not exceed the limit of the Portuguese courts of first instance are subject to mandatory arbitration where you expressly choose to submit them to an authorised consumer dispute arbitration centre (Article 14 of Portuguese Law 24/96), for example CNIACC – National Centre for Information and Arbitration of Consumer Disputes (https://www.cniacc.pt/).

If you reside in Finland and we cannot reach an agreement on a dispute, you may refer it free of charge to the Finnish Consumer Disputes Board (Kuluttajariitalautakunta, https://www.kuluttajariita.fi/), after first contacting the European Consumer Centre in Finland.

16. Changes to These Terms

The version of these Terms and of your subscription conditions in force on the date of each purchase or renewal governs your relationship with us as regards the scope of the licence, permitted uses, the right to a refund, and the limitation of liability. We keep a dated record of all versions, with the date on which each was in force and a cryptographic fingerprint that makes it possible to prove that its text has not been altered afterwards; on request we will provide you, free of charge, with the specific version you accepted.

We may modify these Terms and your subscription conditions where there is a valid reason —technical, operational, security, legal or regulatory changes, or a price change—, with no hidden additional cost. We will publish every modification on the website. Modifications that do not reduce your rights (operational, technical, security, and support) take effect on publication, and your continued use of the website or the services implies your acceptance, without imposing on you any duty to check periodically.

Where a modification materially reduces your rights or adversely affects your active licence in a way that is not merely minor (for example, its scope, the refund policy, the price, or the limitation of liability), we will notify you by email to the address on file with a minimum of thirty (30) calendar days' notice before it takes effect, informing you of the change and of your right to terminate the contract at no cost or penalty. You may terminate at no charge, in accordance with Articles 126 and 126 bis TRLGDCU, until the modification takes effect and, in any event, within thirty (30) days of this communication or, if later, of the date on which the modification takes effect; if you terminate, we will refund the part of the price you paid in advance for the period remaining after termination, in accordance with clause 5, or, if you prefer, you may instead keep the Software until the end of the period already paid for. If, having been informed of the change and of your right to terminate, you do not exercise it, you will be deemed to accept the modification, and the new Terms will govern from the date they take effect, without the previous conditions remaining in force. The withdrawal of versions of the Software is governed by the paragraph "Withdrawal of a version of the Software" in Section 4, and not by this paragraph.

If you reside in Bulgaria, we will notify you by email of every modification of these Terms, including those that do not reduce your rights, within seven (7) days at the latest of its being made. If you do not agree with the modification, you may terminate the contract without giving reasons and at no cost or penalty, or continue under the conditions in force before the modification, by informing us in writing. The provisions of this Section on modifications taking effect on publication, on their acceptance through continued use and on the previous conditions ceasing to be in force do not apply to you.

If you reside in Germany or Austria, we will notify you by email of every modification of these Terms at least thirty (30) days before it takes effect. In the notice we will expressly warn you that, if you do not object to it or terminate the contract within that period, the modification will be deemed accepted; if you object, you may terminate the contract at no cost or penalty. For you, no modification takes effect merely on its publication.

If you reside in Austria, a price increase will apply to you only if you accept it expressly; if you do not accept it before the next billing date, the subscription will end at the end of the period already paid for, at no cost to you.

In the monthly subscription, two additional rules apply. First: we will notify you by email at least fifteen (15) days before each charge of the amount that will be charged and of how to cancel before that date (Article 97.1.p TRLGDCU); if you cancel, you will keep the Software until the end of the period already paid for, with no minimum term or penalty. Second: where a modification adversely affects your rights in a way that is not merely minor, you may terminate the contract at no charge within thirty (30) days of the notice or, if later, of the date on which the modification takes effect (Articles 126 and 126 bis TRLGDCU).

17. Contact

Questions about these Terms should be sent to contact@dalvoxcapital.com or through the contact section of our website.

Annex. Customers resident in France

Notwithstanding the box at the start of these Terms and clause 16, if you reside in France and cancel your subscription, you may choose when it ends: immediately, in which case we refund the part of the month already paid that remains unused, within fourteen (14) days, by the same means of payment and at no cost to you (clause 5); or at the end of the month already paid, with no further charges. You make this choice in your client dashboard or, if you cancel by email, by telling us in your message.

If you reside in France: we do not offer any minimum level of quality of service. We do not offer products or services specifically designed for persons with disabilities; if this changes, we will state it in these Terms. Articles L215-1 to L215-3 and L241-3 of the French Consumer Code, in their version in force, are reproduced in full in the French version of these Terms.