Ambassador Terms

Update: 22/03/2023 

1. Things you need to know

These terms and conditions (the “Ambassador Terms”) are a legal agreement between Shares App Limited (“Shares”, “we”, “us”) and the person subscribing to the Ambassador Services (as defined in the “Glossary” section below) (“you” “your”), (each a “party” and together the “parties”). These Ambassador Terms describe the terms and conditions that apply to your use of the Ambassador Services. 

These Ambassador Terms are in addition to and should be read together with the Shares.io trading terms governing your Account on the Shares App, including all Appendices thereto, as they may be amended from time to time (the “Shares.io Trading Terms”). The Shares.io Trading Terms are incorporated herein by reference and capitalised terms not otherwise defined in these Ambassador Terms shall have the meaning given to them in the Shares.io Trading Terms. If there is any inconsistency between the Shares.io Trading Terms and these Ambassador Terms, these Ambassador Terms will apply. 

By subscribing for and accessing the Ambassador Services, you acknowledge and agree that you have read, understood, and accepted these Ambassador Terms. 

We may amend these Ambassador Terms from time to time as set out in Section 7 below. Please check these Ambassador Terms periodically to ensure that you understand the terms and conditions which apply. You may request a copy of these Ambassador Terms from us at any time by using the in Shares App chat function. 

We reserve all rights not expressly granted to you by these Ambassador Terms.

2. About Shares

Shares is a wholly owned subsidiary of Shares SAS. No services will be provided to you by Shares’ parent entity.

We are an appointed representative of RiskSave Technologies Ltd (“RiskSave”), which is authorised and regulated by the Financial Conduct Authority (“FCA”) (reference no. 775330). Shares is not directly regulated by the FCA, but is permitted to carry on certain services for which RiskSave accepts regulatory responsibility.

3. Organisation of these Ambassador Terms 

To help you more easily understand these Ambassador Terms, we have set them out in the following sections:

4. Subscribing to an Ambassador and using the Ambassador Services 

Subscribing to an Ambassador and using the Ambassador Services

In order to subscribe to an Ambassador and access the Ambassador Services you must: 

• download the Shares App;
• accept and comply with the Shares.io Trading Terms (and Privacy Policy);
• create an Account;
• subscribe to your selected Ambassador via your Account;
• accept these Ambassador Terms and comply with same; and
• pay the Ambassador Services Fees when due. 

By subscribing to an Ambassador, you will have access to the following (the “Ambassador Services”): 

• the Ambassador’s full trading activity on the Shares App as from the Effective Date as well as historic trading activity which will display the nature of the Orders made (i.e. buy or sell) by the Ambassador, the particular Investment(s) concerned, the price at which the Orders were made and, in the event of a sell Order, the percentage of gain or loss made by the Ambassador – we will never display the amount invested or sale proceed in relation to an Order made by the Ambassador;
• the Ambassador Community which features exclusive Content made available by the Ambassador. The Ambassador Community allows Ambassador Subscribers to share information and interact with each other as well as with the Ambassador; and 
• notifications of the Ambassador’s trading activity and posts on the Shares App. 

When accessing or posting Content and messages or interacting with other Ambassador Subscribers and/or Ambassadors in the Ambassadors Communities, you must abide by the terms of the Agreement at all times.

Your Content

You grant Shares a non-exclusive, irrevocable, transferable, sub-licensable, royalty-free, worldwide licence to host, use, copy, modify, adapt, process, distribute, store, perform, display, prepare derivative works of and transmit your Content to provide the Ambassador Services pursuant to and in accordance with these Ambassador Terms. You have sole responsibility for the accuracy, quality, integrity, legality of your Content and for obtaining all rights related to your Content. For the avoidance of doubt, when you make Content available to any Ambassador and/or other Ambassador Subscribers you agree that any such Ambassador and/or Ambassador Subscriber may, free of charge and for personal use only, view and share such Content in accordance with these Ambassador Terms. 

You acknowledge and agree that you are responsible for the backup of your Content.

Third Party Content

• You must not share any Third Party Content of any Ambassador and/or any other Ambassador Subscriber made available to you in the context of the Ambassador Services outside of the applicable Ambassador Community whether for commercial or other purposes. 

We cannot guarantee the accuracy, veracity or authenticity of any Third Party Content posted by Ambassador Subscribers or Ambassadors in the Ambassadors Communities. However, to safeguard our Ambassador Subscribers, we implement reasonable procedures to ensure that Ambassadors’ Third Party Content does not contain inappropriate material, outlines risk and avoids any implication that any investment is “guaranteed”, “protected” or “secure”. You should always undertake your own research before making an investment decision.

No advisors to use the Ambassadors Services

We do not permit any person to use the Ambassadors Services to conduct or procure business as a financial advisor or portfolio manager.  

No person should message others or otherwise use our social investing tools and the Ambassadors Services by way of business, including to make personal recommendations to others. Ambassador Subscribers should not take the posting of positive Third Party Contents, including pictorial GIFS in the Ambassadors Communities, whether made by another Ambassador Subscriber or an Ambassador as a recommendation or a suggestion to trade in any Investment through the Shares App.

You should not make investment decisions based on information provided in the Ambassadors Communities, by Ambassador Subscribers or Ambassadors, such as details of the trades made or any opinions expressed.

Usage Restrictions

You agree that you will not: 

• Copy any data (including Third Party Content) made available to you in the context of the Ambassador Services by Shares, any Ambassador or any Ambassador Subscriber;
• distribute, store, edit, modify or make any data (including Third Party Content) made available to you in the context of the Ambassador Services available to third parties, whether or not for payment;
• create derivative works or analytics from any data (including Third Party Content) made available to you in the context of the Ambassador Services;
• use or access any part of the Ambassador Services in order to build products or services which are the same as or similar to any part of the Ambassador Services; and
• provide insulting or defamatory, illegal, abusive, or otherwise offensive Content, distribute malware or viruses, distribute confidential information which may constitute a breach of the Applicable Laws or contractual obligations.

Inappropriate posts and messages

The Ambassadors Communities and messaging tools should not be used to share confidential information or other inappropriate information. This is strictly prohibited. 

When you post Content in the Ambassadors Communities or within the context of the Ambassador Services, you:

• warrant that all Content you post belongs to you or that you have a right to post that Content and that you do not violate the privacy rights, publicity rights, copyright, intellectual property rights, contract rights or any other rights of any third party or make derogatory remarks regarding, defame or otherwise criticise any person or entity;
• will be liable for any damage resulting from any infringement or other violation of the copyright, trademarks or other proprietary rights of any individual or entity, and for any other harm or losses resulting from any Content that you post; 
• must not post any personal or security information about yourself, your Account, or about anyone else or their Account; 
• must not try to obtain the personal or security information of someone else; 
• must not provide investment advice, portfolio management services or any other type of service which requires you to be authorised by a regulator; 
• must not post that Shares or any other third party (or its group) endorses or warrants your Content; 
• must not advertise or promote another business or service, or any type of commercial content including spam; and 
• must not post any Content which is abusive, inciteful, defamatory, harassing, insulting, sexually explicit, offensive, racist, rude, hateful, threatening, violent, or illegal.

Monitoring of posting and Content

We and the Ambassadors will, at our respective discretion and subject to Applicable Laws, review and monitor and/or moderate Content and posting activity in the Ambassadors Communities and in the context of the Ambassador Services. Any Content that does not comply with the Agreement, may be edited or deleted by us or any of the Ambassadors.

Any abuse or breach of the above rules or of our guidelines, may lead to your access to the Ambassadors Services being restricted, blocked or terminated, or to you being excluded from the Shares App, in each case on a permanent or temporary basis without liability to you or right to a refund of the Ambassador Services Fee(s).

We may also be required by Applicable Laws to tell regulators or government authorities about a breach of the Agreement and help them in any investigation.

5. Ambassador Services Fees

To access our Ambassador Services and to become an Ambassador Subscriber you will have to pay a recurring Ambassador Services Fee of £2.99 per Subscription Period for the entire Subscription Duration, in respect of each Ambassador to which you subscribe to. The Ambassador Services Fee is due on the first day of each Subscription Period.

By subscribing to an Ambassador, you expressly authorize Shares to deduct the Ambassador Services Fee from your Electronic Money Account on the first day of each Subscription Period for as long as you remain an Ambassador Subscriber. 

If we can’t take an Ambassador Services Fee when due from your Electronic Money Account for any reason (for example, because the balance of your Electronic Money Account does not allow it), we will ask you to deposit a sufficient amount in your Electronic Money Account. If you don’t do this within 5 calendar days from us notifying you of such failed payment, we may suspend or terminate your access to the Ambassadors Services and our agreement under these Ambassador Terms.

Additional third-party connection fees outside of our control may apply at the discretion of any third-party operator in addition to the Ambassador Services Fees.

You are responsible for paying any taxes or other relevant costs (including potential third party connection fees referenced above) that we are not responsible for collecting from you.

Duration, cancellation and termination

Duration of these Ambassador Terms

These Ambassador Terms will come into effect on the Effective Date, for an initial duration of one (1) month (“Initial Term”) and will automatically renew on a monthly basis for consecutive one (1) month periods (each being a “Renewal Term”), subject to the termination provisions of these Ambassador Terms and under the Agreement (as applicable). 

By way of example if you have made the payment of your first Ambassador Services Fee on 15th February, the Initial Term will run from 15th February to 14th March inclusive and will automatically move into the first Renewal Term on 15th March, on which date the payment of the next monthly Ambassador Services Fee will become due and payable by you.   

Termination by you

You may end your subscription in respect to a given Ambassador: 

• at any time within the first fourteen (14) days of your Initial Term by unsubscribing within the Shares App. The termination of your subscription will take effect immediately and you will lose access to the Ambassador Services. We will provide you with a full refund of the Ambassador Services Fees paid for your Initial Term on your Electronic Money Account as soon as possible and in any event no later than fourteen (14) calendar days after the termination of your subscription. Notwithstanding the foregoing, Shares reserves the right to reject your request to terminate at any time within the first fourteen (14) days of having subscribed to an Ambassador, where your exercise of this right exceeds fair usage; and
• at any other time following the first fourteen (14) days of your Initial Term, by unsubscribing within the Shares App. The termination of your subscription will take effect at the end of the Subscription Period during which you unsubscribe. You will continue to benefit from the Ambassador Services until the termination is effective and we will not provide a refund of the Ambassador Services Fees paid for the Subscription Periods before the termination is effective.

Suspension and Termination by us  

Shares may suspend and/or terminate your access to the Ambassador Services, in whole or in part, without liability:

• if Shares reasonably believes that you are in breach of: (a) the Applicable Laws; (b) these Ambassador Terms; or (c) any other terms of the Agreement;  
• if Shares reasonably believes that providing you with the Ambassador Services exposes us to action or censure from any law enforcement, government or regulatory body, including the FCA; 
• under exceptional circumstances, including without limitation if:
  a. we have good reason to consider you are behaving fraudulently or otherwise criminally;
  b. we have reasonable grounds to consider that you are seeking to use the Ambassador Services to manipulate or to induce others (whether alone or in concert with other persons) to manipulate the market relevant to the Investments you hold.
  c. if you’ve broken these Ambassador Terms, the Shares.io Trading Terms, the Execution Broker terms and conditions in a serious or persistent way and you haven’t put the matter right within a reasonable time of us asking you to;
  d. if we have good reason to believe that your use of the Ambassadors Communities is harmful to us or our software, systems or hardware;
  e. if we have good reason to believe that you continuing to use the Ambassador Services could damage our reputation or goodwill;
  f. we have asked you to repay money you owe us and you have not done so within a reasonable period of time;
  g. we must do so under any law, regulation, court order or ombudsman’s instructions;
  h. if there is an application, order, resolution or another announcement in relation to a winding up/bankruptcy in which you are involved; or
  i. the Shares.io Trading Terms have been terminated.

Your subscription to Ambassador Services may also be suspended or terminated, as applicable, if your Account is suspended or terminated in accordance with the Shares.io Trading Terms.

No suspension and/or termination of these Ambassador Terms by us shall entitle you to a refund of any Ambassador Services Fee(s).

Termination of these Ambassador Terms shall not affect any rights, obligations or liabilities of Shares which have accrued before termination or which are intended to continue to have effect beyond termination.

Post-Termination Obligations

On termination of these Ambassador Terms for any reason, Shares will securely delete or destroy your Content, including the Personal Data, related to these Ambassador Terms in accordance with Shares’ data retention policies, as updated from time to time. 

7. Variation to these Ambassador Terms and/or the Ambassador Services 

We may make changes to these Ambassador Terms from time to time. For example we might need to add new terms or amend existing terms to reflect changes in our business, services or products or how we provide them, the systems we use, the cost to us of providing the services, Applicable Laws or good industry practice or other valid reasons.

If we add a new term or change an existing term we will take reasonable steps to provide you with reasonable notice, including via the Shares App and website (www.shares.io). You will be deemed to accept and agree to the changes if you continue to use the Ambassador Services after we have notified you of the changes to these Ambassador Terms. If you do not agree to changes we have made then you can terminate our agreement on these Ambassador Terms at any time within the Shares App or by contacting our customer service team via the Shares in App chat function or via email at support-team@shares.io. This termination will not entitle you to a refund of the Ambassador Services Fee(s).

There might be times when we do not tell you about a change to these Ambassador Terms but that is limited to when the change does not disadvantage you and it is reasonable not to provide you with advance notice. Where we add a new product or service that doesn’t change these Ambassador Terms, we may add the product or service immediately and let you know before you use it. 

8. Our relationship 

Data Protection

The parties agree that, for the purpose of the Applicable Laws, with the exception of any data retained by Shares for legal or tax reasons after termination of the Agreement, we are the data controller with respect to your Personal Data associated with your use of the Ambassador Services. The provision of your Personal Data and our processing of that Personal Data is necessary for each of us to carry out our obligations under these Ambassador Terms.

We will manage and protect your personal data in accordance with the Data Protection Legislation. For full and comprehensive information about when and why we collect your Personal Data, how we use it, the conditions under which we may disclose it and how we keep it secure, please refer to our Privacy Policy which is provided to you at the time we collect your personal data and which can be found on our website.

Intellectual property

These Ambassador Terms do not grant you any ownership rights to the Shares website, the Shares App, the Shares brand and the materials reproduced on the Shares website or the Shares App including, but not limited to, photographs, visuals, text, illustrations, designs, logos, sounds and images, which remain the sole and exclusive property of Shares or of third-parties (together the “Shares Materials”). You may use the Shares Materials only to receive the Ambassador Services in accordance with these Ambassador Terms. Shares grants you a non-transferable, non-exclusive, non-sublicensable license to use the Ambassador Services and the Shares Materials subject to these Ambassador Terms. Access to the Ambassador Services under the conditions provided for in these Ambassador Terms shall not be construed as the transfer of any intellectual property rights to you. 

You may not:

• transfer, sublicense, or otherwise grant rights in the Shares Materials to any third party without the prior written consent of Shares;
• modify, copy, tamper with or otherwise create derivative works of any software included in the Shares Materials; or
• reverse engineer, disassemble, or decompile the Shares Materials or apply any other process or procedure to derive the source code of any software included in the Shares Materials. 

You are strictly prohibited from any use of the above-mentioned elements not permitted by these Ambassador Terms, in particular any commercial exploitation (unless and to the extent that it does not otherwise result from mandatory provisions of law).

All Intellectual Property Rights in your Content will remain vested with you and, to the extent that any rights in such materials vest in Shares by operation of law, Shares hereby assigns such rights to you. You shall fully indemnify Shares against: (a) any amounts paid by Shares to any third party as a result of or in connection with any claim which that third party brings against Shares alleging that its Intellectual Property Rights, data protection or other rights are infringed by the provision by you to Shares of the Content or the use of the Content by Shares as permitted by these Ambassador Terms; and (b) any associated legal expenses reasonably and properly incurred.

Our liability 

Nothing in these Ambassador Terms shall limit or exclude either party’s liability for: (a) personal injury or death caused by its negligence; (b) its deliberate act; or (c) any damage which cannot be excluded under Applicable Law.

We're responsible for losses you suffer caused by us breaking the Agreement unless the loss is:

• Unexpected. It was not obvious that it would happen and nothing you said to us before we accepted your subscription to the Ambassador Services meant we should have expected it (so, in the law, the loss was unforeseeable).
• Caused by a delaying event outside our control. As long as we have taken the necessary steps set out in these Ambassador Terms, we're not responsible for delays outside our control.
• Avoidable. Something you could have avoided by taking reasonable action. For example, damage to your own Content or device, which was caused by digital content we supplied and which you could have avoided by following our advice to apply a free update or by correctly following the installation instructions or having the minimum system requirements advised by us.
• A business loss. Our liability for any loss you suffer in connection with your trade, business, craft or profession is limited, to the extent lawful, as follows:
  a. Shares shall not, under any circumstances whatever, be liable to you, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, for: (a) any loss of profit, sales, revenue, or business; (b) loss of anticipated savings; (c) loss of or damage to goodwill; (d) loss of agreements or contracts; (e) loss of use or corruption of software, data or information; (f) any loss arising out of the lawful termination of these Ambassador Terms or any decision not to renew its term, or (g) any loss that is an indirect or secondary consequence of any act or omission of the party in question.
  b. The total liability of Shares to you in respect of all other loss or damage arising under or in connection with these Ambassador Terms, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, shall in no circumstances exceed the amount of the Subscription Services Fees paid by you in the preceding twelve months.

Notwithstanding the foregoing, neither Shares nor any of our group companies, directors, staff, agents, suppliers or contractors will be liable for any losses arising from: 

• action or inaction we take in accordance with our rights under these Ambassador Terms or the Shares.io Trading Terms;
• event due to circumstances beyond our control, including but not limited to any natural disaster, epidemic or pandemic, technical failures in transmission, communication or computer facilities including power failures and electronic or equipment failures;
• action taken by any government or regulatory body, legal authority, technical delays, technological malfunction, loss of data and records, destruction of hardware;
• action taken by us as a result of a breach of these Ambassador Terms by you;
• act or omission of any third party including for any information provided by a third party;
• action taken by us as a result of Applicable Laws;
• damage, costs, loss, liability, claims for compensation, or expense incurred or suffered by you, directly or indirectly under or in connection with these Ambassador Terms;
• damage, costs, loss, liability, claims for compensation, or expense incurred or suffered by you, directly or indirectly, under or in connection with any planned or essential maintenance to our systems, which includes the Shares App.

Disclaimer of Warranties 

Save in respect of providing the Ambassador Services with reasonable care and skill under Applicable Law, the Ambassador Services, the Shares App and the Content, are provided “as is” and “as available”, without any representation or warranty of any kind, including that it will be without interruption, error free, or will meet your individual requirements, or compatible with your hardware or software, except as otherwise set out in these Ambassador Terms.

Contacting each other

If you need to speak to us, or if we need to speak to you, in relation to any matters arising out of or in connection with these Ambassador Terms, we will do so via the messaging functionality, chat bot or other facility available to you in the Shares App from time to time. We may also use the email address you provide to us when creating your Account to send you documents or other information.

You agree that we may monitor and record any email, chat or telephone conversations that we have with you, as well as any other forms of communications, activities, and transactions, between you and us, and that the recordings may be used as evidence in any proceedings relating to our Agreement with you, any order you place, and/or trades executed. These records will be our sole property. We will store recordings in accordance with Applicable Laws, and / or for as long as we consider necessary to be able to provide the Ambassador Services to you. This will be for a minimum of 5 years and potentially longer if requested by authorities.

Electronic communication 

You confirm that you are happy to receive information addressed to you personally (such as communications, reports, notes and other information from us, including our policies) via email or via the Shares App or where relevant, via our website where it meets the necessary requirements on us to deliver information to you in a "durable medium". 

You also confirm that you are happy to receive information relating to our service that is not personally addressed to you via our Website and/or any other website or via the Shares App.

Complaints and claims

If you are unhappy with the Ambassador Services and wish to make a complaint please contact our customer service team via the Shares in App chat function or via email at complaints@shares.io. We will acknowledge your request promptly and arrange for the matter to be investigated. 

Partial invalidity of these Ambassador Terms 

If any court or relevant authority finds any part of these Ambassador Terms to be invalid or unenforceable, the remaining parts of the Ambassador Terms will remain in full force and effect.

Our right to enforce these Ambassador Terms 

If you have breached these Ambassador Terms between you and us and we don’t enforce our rights, or we delay in enforcing them, this will not prevent us from enforcing them at a later date.

9. Incorporation of Shares.io Trading Terms

The following provisions of the Shares.io Trading Terms are incorporated herein along with all applicable defined terms, mutatis mutandis, with all references to the Shares.io Trading Terms to be read as the Ambassador Terms: 

• How we deal with personal information about you; 
• If conflicts of interest arise; 
• Delegation by us; 
• Our right to transfer; and
• Applicable law and courts.

Glossary 

Throughout these Ambassador Terms, we use certain capitalised terms that have specific meanings as detailed below - capitalised terms not otherwise defined in these Ambassador Terms shall have the specific meanings given to them in the Shares.io Trading Terms:

• “Agreement”: means: (a) these Ambassador Terms; (b) the Shares.io Trading Terms; and (c) the Social Channel Guidelines.
• “Ambassadors”: means Users who are financially compensated by Shares to participate in the provision of their respective Ambassador Services. They should not be viewed as experts nor experienced traders.
• “Ambassador Community”: refers to the private community run by a given Ambassador in the context of the Ambassador Services.
• “Ambassador Services”: refers to the services described in Section 4 above, made accessible by Shares to the Ambassador Subscribers in respect of a given Ambassador.
• “Ambassador Services Fee”: represents the cost to subscribe to the Ambassador Services for a given Subscription Period as further detailed in Section 5 above.
• “Ambassador Subscriber”: refers to Users having subscribed for the Ambassador Services of a given Ambassador by having accepted these Ambassador Terms and paying the applicable Ambassador Services Fee. For the purposes of these Ambassador Terms, you shall classify as an Ambassador Subscriber (unless the context demands otherwise). 
• “Ambassador Terms”: refers to these terms and conditions.
• “Applicable Laws”: means all legislation, regulations, all regulatory obligations and other rules having equivalent force which are applicable to that party including, without limitation, any financial services legislation, the Data Protection Legislation, and all other legislation and regulatory requirements in force from time to time which apply to a party relating to the use of Ambassador Services, the use of Personal Data (including, without limitation, the privacy of electronic communications) and the guidance and codes of practice issued by the relevant data protection or supervisory authority and applicable to a party.
• “Content”: means all text, information, data, images, or other material in whatever medium or form, including any Personal Data, provided to Shares by you, an Ambassador Subscriber and/or an Ambassador in the context of the Ambassador Services.
• “Data Protection Legislation”: means all mandatory applicable data protection and privacy legislation in force from time to time in the respective country, including, inter alia, the GDPR. 
• “Effective Date”: means the date on which you: (a) first accept these Ambassador Terms; and (b) have made successful payment of your first Ambassador Services Fee. 
• “FCA”: has the meaning given to such term in Section 2 above/
• “GDPR”: means: (a) EU GDPR, namely the General Data Protection Regulation ((EU) 2016/679), as it has effect in EU law; and (b) UK GDRP, as defined in section 3(10) (as supplemented by section 205(4)) of the Data Protection Act 2018. 
• “Initial Term”: has the meaning given to such term in Section 6 above.
• “Intellectual Property Rights”: means copyright, database right, domain names, patents, registered and unregistered design rights, registered and unregistered trademarks, and all other industrial, commercial or intellectual property rights existing in any jurisdiction in the world and all the rights to apply for the same. 
• “Party”: has the meaning given to such term in Section 1 above.
• “Personal Data”: shall have the meaning defined in Article 4 of the GDPR. 
• “Renewal Term”: has the meaning given to such term in Section 6 above.
• “RiskSave”: has the meaning given to such term in Section 2 above.
• “Shares”, “we”, “us”: has the meaning given to such term in Section 1 above.
• “Shares Materials”: has the meaning given to such term in Section 8 above.
• “Shares.io Trading Terms:” has the meaning given to such term in Section 1 above, which are available at: https://shares.io/terms/.
• “Social Channel Guidelines”: means Shares’ Social Channel Guidelines, as amended from time to time, which are available at: https://shares.io/social-channel-guidelines/.
• “Subscription Duration”: means the Initial Term and each Renewal Term.
• “Subscription Period”: means, as applicable, the Initial Term or a Renewal Term.
• “Third Party Content”: means all text, information, data, images, or other material in whatever medium or form, including any Personal Data of an Ambassador Subscriber and/or an Ambassador that you may access from time to time when using the Ambassador Services.
• “Users”: means the users of the Shares App having opened an Account.