These Terms of Service, presented by Pipstone - FZCO ("Company", "we", "our", or "Pipstone"), govern the use of services provided on the website pipstonecapital.com (the "Website"). These terms establish the legal responsibilities between Pipstone and any person or entity ("you", "Trader", "Customer", or "User") accessing our platform or purchasing our services. By using the Website and our services, you agree to comply with and be bound by these Terms of Service.

1. Eligibility

You must be at least 18 years old and legally permitted to use our services in your jurisdiction. Users in the following countries are prohibited from accessing Pipstone: Afghanistan, Cuba, Iran, Iraq, North Korea, Syria, Sudan, and any jurisdictions subject to sanctions or restrictions.

2. No Investment Advice

Pipstone does not provide investment services or advice. All activities conducted through our platform are for educational and evaluation purposes only and use simulated environments. Any communication from Pipstone should not be interpreted as financial or trading advice.

3. Simulated Trading Environment

All trading services provided by Pipstone are fully simulated. No real capital is traded. Payouts are issued as performance-based rewards derived from activity in simulated environments, not from actual financial markets.

4. Registration and Payments

By registering, you agree to provide accurate information and maintain the confidentiality of your account. All payments made are non-refundable. Service fees grant access to our platform, challenge programs, and related offerings.

5. Platform Access and Restrictions

Pipstone reserves the right to restrict access to the Website or services at its discretion. The use of VPNs or falsified residency to bypass geographic or compliance restrictions is strictly prohibited and will result in service termination.

6. Payouts and Profit Sharing

Traders eligible for payouts will be required to complete KYC verification. Our default profit split is 80/20 (Trader/Company), though this may vary based on promotions or customized offers. Payouts are based entirely on simulated performance.

7. Prohibited Behavior

Users must not:

• Engage in toxic, manipulative, or exploitative trading practices (e.g., latency arbitrage, news trading, HFT strategies)

• Use third-party accounts or pass challenges on behalf of others

• Upload false documents or submit fraudulent KYC information

• Harass, threaten, or misuse Pipstone or other users

8. Account Monitoring and Security

We monitor login activity, trading behavior, and IP addresses to prevent misuse. Accounts may be suspended or terminated if suspicious activity is detected or if Terms are violated.

9. KYC and Compliance

Users must complete KYC verification before receiving any payouts. This may include identity verification, tax forms, or additional documentation based on local and international regulations. Failure to comply will result in payment denial.

10. Affiliate Program

Pipstone offers a tiered affiliate program. Commission structure:

• Tier 1 (Starter): 10% commission for <25 referred users

• Tier 2 (Builder): 12.5% commission for 25–99 users

• Tier 3 (Elite): 15% commission for 100–249 users

• Tier 4 (Partner): 18% commission for 250+ users

Customers using an affiliate link receive a 5% discount on their purchase. All affiliate commissions are tracked through our internal system and are subject to verification and compliance review.

11. Limitation of Liability

Pipstone provides services "as is" without warranties. We are not liable for losses, damages, or missed trading opportunities. Your use of our platform is at your own risk.

12. Termination

We may terminate your access to our services without notice if you breach these Terms. You may also stop using our services at any time. Any fees paid are non-refundable.

13. Dispute Resolution

All disputes shall be governed by the laws of the United Arab Emirates. In the event of a dispute that cannot be resolved amicably, jurisdiction shall reside with the courts of Dubai.

14. Amendments

We reserve the right to modify these Terms at any time. Continued use of our services constitutes your acceptance of the revised Terms.

15. Contact

For any questions regarding these Terms, please contact us at support@pipstonecapital.com

Appendix – Responsible Trading

At Pipstone Capital, we are committed to maintaining a secure, fair, and professional simulated trading environment that encourages responsible trading. This policy defines clear expectations for how trading should be conducted on your evaluation and funded accounts.

All trading activity on your simulated accounts must reflect legitimate, disciplined, and realistic market behavior. Traders are expected to uphold high levels of integrity, risk management, and professionalism at all times.

This policy is intended to educate and guide traders on maintaining responsible practices. By adhering to these principles, you can improve performance while avoiding careless or exploitative trading behaviors.

Responsible Trading Conduct

Traders using Pipstone Capital accounts must follow legitimate trading practices and avoid toxic, manipulative, or unsustainable strategies.
- High-frequency or latency-based strategies
- Grid systems or arbitrage
- Excessive stacking or hedging

All Pipstone traders are expected to act with professionalism, accountability, and respect toward the platform and its resources. Any attempt to exploit or manipulate the evaluation process will result in disciplinary action, including forfeiture of profits or account termination.

Stacking of Positions

To ensure responsible risk management, Pipstone Capital limits stacking of trades. “Stacking” refers to opening additional positions when an initial trade moves against your account (averaging in or hedging). A maximum of four (4) open entries is allowed under such circumstances. Exceeding this limit constitutes a rule violation and may lead to payout denial, suspension, or account termination.

High-Frequency Trading (HFT)

High-frequency trading or any activity that resembles HFT is strictly prohibited. This includes opening and closing trades at extremely rapid intervals — such as trades lasting less than one (1) minute — or executing an unusually high number of trades within a short period, which may indicate automated or exploitative behavior.

Automated Systems, EAs & Bots

Automated systems, Expert Advisors (EAs), or bots are permitted only if they operate with human-like logic, such as risk management or strategy automation that mirrors realistic manual decision-making.

Strategies designed for scalping, latency arbitrage, grid trading, or any form of rapid-fire trade execution are not allowed.

Effective Risk Management

Traders must apply sound risk management and maintain realistic expectations. Avoid over-leveraging or attempting to recover losses through oversized positions. If a position is in drawdown, only one additional position may be opened on the same instrument at a worse price, and its lot size must not exceed that of the original trade.

Opening simultaneous buy and sell positions on the same symbol is prohibited.

Performance Evaluation and Capital Management

Regularly assess and improve your trading performance by reviewing both profitable and losing trades. Treat your account as if it were your own live capital, focusing on capital preservation and consistent growth.

Compliance and Consequences

All users must comply with Pipstone Capital’s trading guidelines at all times. Failure to do so may result in: - Account suspension or permanent closure
- Withdrawal or restriction of payout eligibility
- Withholding of performance fees

Pipstone Capital reserves the right to update terms, investigate, review, and take action against any trading behavior that violates these guidelines.