Terms of Service
These terms govern the use of League of Markets, a paper trading competition platform operated in Germany. League of Markets is intended for competition management, educational, and entertainment purposes only, and is not a broker-dealer, investment advisor, portfolio manager, or payment service provider.
Version: 2026-07-30-r12
1. Operator and scope
Operator details are displayed on the site information page. These terms apply to accounts, competitions, invitations, rankings, paper orders, website usage, and related League of Markets features. In the event of a conflict between specific competition rules and these terms, these terms shall prevail.
2. Simulated contest platform only
League of Markets is a paper trading competition platform. Balances, positions, market and limit orders, results, and rankings are all virtual. Public competitions use realistic execution rules, so orders submitted outside exchange operating hours may reserve virtual cash or holdings and remain pending until the next market open. Private practice competitions may allow immediate execution based on verified recent official prices. No orders are sent to real brokerages.
3. No investment, legal or tax advice
Prices, charts, assets, rankings, trades, and competition results displayed on League of Markets do not constitute investment advice, financial analysis, legal advice, or tax advice. Users should not rely solely on information from League of Markets for actual investment decisions.
4. Accounts and security
Hosts configure the title, schedule, participation rules, starting capital, currency, tradable markets, simulated fees, ranking conditions, visibility, capacity, and reward details. To prevent altering rules after viewing participants' positions, core conditions regarding economics, markets, rankings, rewards, and schedules cannot be modified once the competition starts. Description updates follow existing modification deadline and notification rules.
5. Legal capacity and guardian permission
Users who under applicable laws cannot independently consent to using online services may only use League of Markets with the permission of a parent or legal guardian. League of Markets is intended for a general audience and does not require a date of birth during the standard sign-up process.
6. Contest rules and rewards
Hosts must clearly display the competition duration, participation/ranking rules, execution method, tradable markets, position limit rules, and reward information. Pending buy orders reserve virtual cash, while pending sell orders reserve holdings; users cannot exceed starting capital, available holdings, or configured exposure limits. AI participants are clearly labeled as AI, receive no points, and are not counted toward the active human participant count.
7. Fair use and prohibited conduct
Users must not engage in ranking/point manipulation, coordinated multi-account operations, concealing common control, micro/wash trading to inflate tiebreaker metrics, exploiting delayed quotes, submitting reserve orders exceeding available funds or holdings, or operating competitions to transfer rewards to specific accounts. Ties are broken in order of: time ranking condition was first met, time of first buy order, number of valid trades, and competition join time. Operators may log risk flags, withhold point settlements, recover misallocated points through an auditable ledger, and request verification documents from prospective winners.
8. Market data, FX rates and availability
Prices, exchange rates, and historical data may be delayed, cached, interrupted, missing, or inaccurate, and may originate from third-party providers. The free or research-oriented nature of the service does not automatically grant rights to use, display, or redistribute third-party data. To comply with provider terms, exchange licenses, or service stability requirements, League of Markets may disable specific providers, restrict access, modify caching policies, or suspend related features.
9. Current free operation and professional-account access
League of Markets is offered free of charge on a temporary basis to evaluate service stability, user interest, feature usage, technical load, and market data/API demand. We do not sell subscriptions or plans, nor do we collect payment information. Professional account features may be manually granted free of charge upon request for verification purposes. The term "Professional Account" merely designates feature scope and does not confer legal professional investor status or guarantee continued access beyond the current operating period.
10. Availability during the assessment period
League of Markets is developed and operated free of charge during its research and market demand evaluation period. Features, limits, access permissions, data providers, and operations may be changed, suspended, or terminated due to security, licensing, cost, technical, or evaluation reasons. This does not affect user rights or legal liabilities that cannot be excluded under applicable law.
11. Changes to the service and Terms
League of Markets may modify features, limits, providers, plans, and terms as the service evolves. Important changes may be communicated in-service or via email, and re-consent may be required to continue using the service.
12. Governing law
These terms are established based on services operated in Germany. To the extent permitted by law, German law applies. Mandatory consumer protection regulations under the laws of your country of residence remain unaffected.
13. Contact
Questions about these Terms can be sent to the contact address listed on the Site information page.
14. Review at the end of the assessment period
Based on operating results collected during the current period, the operator may continue, modify, suspend, or terminate the service before or after the period ends. Material changes to operations, these terms, or privacy processing purposes will be notified in advance, and re-consent will be requested where legally required. Participation under current terms does not automatically create rights or obligations beyond this operating period.
15. Optional analytics and cookie consent
League of Markets may offer optional Google Analytics 4 measurement to understand basic website usage and improve stability. Consent for analytics is not a required condition for sign-up or service use. It is activated only after separate user consent and can be rejected or revoked at any time in cookie settings. We do not use advertising, remarketing, Google Signals, or personalized ads.
Trading outside exchange sessions
Execution depends on the league mode. Public market-realistic leagues reserve cash or shares for off-session orders and attempt execution at the next regular opening. Private practice leagues may allow immediate simulated execution at the latest validated official price. No order is sent to a broker.