Terms and Conditions

1. Who we are

DeFolio is offered by Lasse Christensen.

• Email: defolioapp@gmail.com
• Website: defolio.app

In these terms, “we” and “us” mean DeFolio, and “you” means the person who uses DeFolio. “DeFolio” also means the service: the website defolio.app, the dashboard and everything that comes with it.

2. These terms

• These terms apply to every DeFolio subscription and to your use of DeFolio. Sections 11, 14 and 15 also apply to the public pages and the demo, which you can use without an account.
• DeFolio is meant for consumers: people who use it for purposes outside their trade, business or profession.
• Our privacy policy explains how we handle personal data. It is information for you and not part of this contract.
• The terms that apply are the ones you accepted, with any later changes made under section 17.

3. What DeFolio is

• DeFolio is a dashboard for investment accounts at flatex DEGIRO (DeGiro). You export CSV files from DeGiro yourself and import them into DeFolio. DeFolio reads them in your browser and shows, among other things, your net worth over time, your returns, dividends, costs and cash flow, how your portfolio is spread, and a comparison with the MSCI World.
• DeFolio does not connect to your DeGiro account, never asks for your DeGiro login details, and cannot place orders or move money or securities.
• DeFolio reads DeGiro's CSV exports, in any language. Descriptions in a language other than Dutch or English are read from the structure of the file, which can place some rows wrongly; the data check on the imports page lists those rows. Exports from other brokers are not supported.
• DeFolio is not affiliated with, endorsed by or sponsored by flatex DEGIRO.
• Your data is processed and stored, encrypted, on your own device. Our privacy policy explains how that works. DeFolio needs a recent browser that runs JavaScript and lets websites store data, and an internet connection to sign in and for some features.
• Some features use data from third parties, such as details of securities from OpenFIGI, prices from Yahoo Finance and exchange rates from Frankfurter. The comparison with the MSCI World uses the price of an exchange-traded fund that tracks that index, plus an estimate of its dividends, so it approximates the index.
• The demo on our website shows a sample portfolio with made-up figures.

4. Information, not advice

• DeFolio shows information about your own transactions and portfolio. It is not investment, financial, tax or legal advice, and not a recommendation to buy, sell or hold anything.
• We are not an investment firm or other financial undertaking within the meaning of the Dutch Financial Supervision Act (Wft). We do not hold a licence from the AFM or DNB and are not supervised by them. We do not manage, hold or trade money or securities.
• The figures depend on the exports you import, on third-party data and on methods that simplify reality. For example, values between two exports are estimated from your trade prices, and returns are calculated with standard methods that can differ from DeGiro's own figures. Figures can therefore be incomplete, out of date or wrong.
• Projections and comparisons are hypothetical, not forecasts. Past results are no guarantee for the future.
• The tax overview is an aid, not a tax return. Check it against DeGiro's annual overview and the information of the Dutch Tax and Customs Administration, or ask a tax adviser.
• Always check important figures against DeGiro before you act on them. Your investment and tax decisions remain your own.

5. Your account

• To subscribe, you need an account. You must be 18 or older and legally able to enter into contracts.
• Use a correct email address and keep your password secret. Tell us straight away at defolioapp@gmail.com if you think someone else is using your account.
• Your account is personal. You may not share it with anyone or transfer it to anyone else.
• We may limit new sign-ups, for example before launch. While sign-up is closed, you can join the waitlist.

6. How the contract is concluded

• You subscribe on defolio.app while signed in. You are then taken to Stripe's checkout page, where you see the price, the billing period and how you pay, and can check and correct your details before you pay.
• Because DeFolio starts as soon as you have paid, we ask you before you pay to request expressly that we start right away, and to confirm that you know what this means for your right of withdrawal (section 9).
• The contract is concluded once your payment on the checkout page has been completed. You receive a confirmation by email.
• We may refuse a subscription for a valid reason, for example earlier misuse. If we do, we tell you and refund what you paid.

7. Price and payment

• DeFolio costs €2.49 per month, including 21% Dutch VAT. There are no other costs.
• You pay per month in advance, through Stripe, with a payment method offered on the checkout page. Your subscription runs in periods of one month from the day you subscribed. Stripe collects the payment for each new period automatically when it starts.
• If a payment fails, Stripe may try again. While a payment is outstanding, you cannot use the dashboard. If the payment still fails, we may end your subscription.
• We may change the price, for example because our costs or the VAT rate change. We tell you by email at least 30 days before the new price applies. The new price applies from the first period that starts after that date. If you do not agree, you can cancel before then, and you never pay the new price.

8. Duration and cancellation

• Your subscription runs for an indefinite period, per month, and renews automatically each month until you cancel it.
• You can cancel at any time: online in the subscription portal (Account page, Open subscription portal), or by email to defolioapp@gmail.com. There is no notice period. Your cancellation takes effect at the end of the period you have already paid for, and you are not charged again.
• The portal confirms your cancellation and the date it takes effect, and your Account page shows that date too. If you cancel by email, we cancel for you and confirm it by email.
• Until that date you keep full access. We do not refund the remaining days of a period that has started, unless you withdraw under section 9 or the law requires otherwise.
• When your subscription ends, you can no longer open your dashboard. Your data stays encrypted in your browser, but DeFolio can only open it while your subscription is active. If you subscribe again later with the same account, you get access again to the data that is still in your browser. A backup can also only be restored with an active subscription on the same account. So keep your original DeGiro exports.

9. Right of withdrawal

As a consumer, you may withdraw from the contract within 14 days without giving a reason. This withdrawal period ends 14 days after the day the contract was concluded.

How to withdraw

Tell us within the withdrawal period, by email to defolioapp@gmail.com, with a clear statement that you withdraw. You may use the model form below, but you do not have to. It is enough to send your statement before the withdrawal period ends. We confirm receipt by email without delay.

What you pay

If you asked us to start during the withdrawal period, which we ask you at checkout (section 6), you pay for the part of the service we provided until we received your withdrawal. We calculate that in proportion to the price: the monthly price divided by the number of days in that period, times the number of days up to and including the day we received your withdrawal. For example, if you withdraw on the 5th day of a 30-day period, you pay 5/30 of the monthly price. If you did not ask us to start right away, you pay nothing.

We refund what you paid, minus that amount, within 14 days after we received your withdrawal, using the same payment method, unless we agree otherwise with you. You pay no costs for the refund. Your subscription and your access end on the day we receive your withdrawal.

10. Your data and your responsibilities

• Your data is yours. Because it stays on your device, we cannot see it, back it up, restore it or recover it.
• You are responsible for keeping copies. Keep your original DeGiro exports and make regular backups in DeFolio. Data in your browser can be lost, for example if you clear your browser data, use a private window, your browser frees up storage space, or your device is lost or reset.
• Only import exports from your own DeGiro account, or exports you are otherwise allowed to use.
• Keep your device, your browser and your backup files safe. Anyone who can use your device while you are signed in can see your data. Files you download, such as a CSV file of your transactions, are not encrypted.

11. Acceptable use

You may use DeFolio for your own personal, non-commercial purposes. You may not:

• use DeFolio in breach of the law or of other people's rights;
• try to get around the subscription, the sign-in, the encryption or other security measures, or access other people's accounts or data;
• use our server functions other than through DeFolio itself, for example to collect prices or other data automatically, or overload them;
• copy, sell or rent out DeFolio or what it produces, or offer it as a service to others;
• decompile or reverse engineer DeFolio, except where the law allows it;
• spread viruses or other harmful code through DeFolio.

12. Availability and changes to DeFolio

• We do our best to keep DeFolio available and working properly, but we cannot guarantee that it is always available or free of errors. We may make DeFolio temporarily unavailable for maintenance, preferably at quiet times.
• Features that use third-party data or services can stop working, or work differently, if those parties change or end their services.
• We may change and improve DeFolio, for example to add features, fix errors, follow changes in DeGiro's exports or meet legal requirements, at no extra cost to you. If a change affects your access to or use of DeFolio negatively and more than slightly, we tell you by email at least 30 days in advance. You may then end your subscription free of charge within 30 days after that message or after the change, whichever is later, and we refund what you paid for the period after it ends.
• If DeFolio does not meet what you may expect under the contract, you keep your rights under the law, such as having it put right, a price reduction or ending the contract.
• We may stop offering DeFolio altogether. We tell you at least 60 days in advance, and refund what you paid for the period after it stops. DeFolio then no longer works, and your data in the browser can no longer be opened with it. Keep your DeGiro exports; until DeFolio stops, you can still download your transactions as a CSV file.

13. Suspension and termination by us

• We may suspend or end your account if you seriously or repeatedly breach these terms, for example by misusing DeFolio or by not paying, or if the law requires us to. Where reasonable, we warn you first and give you time to put things right.
• If we end your subscription without it being your fault, we refund what you paid for the period after it ends.
• You can delete your account yourself on the Account page once you have cancelled your subscription, or ask us to do it by email. Our privacy policy explains what this deletes.

14. Intellectual property

• All rights in DeFolio, including the software, the design, the texts and the DeFolio name and logo, belong to us or our licensors. During your subscription you get a personal, non-exclusive and non-transferable right to use DeFolio in line with these terms. No other rights pass to you.
• Your data remains yours. We get no rights to it, as we never receive it.
• DEGIRO, flatex, MSCI and other names and trademarks belong to their owners. DeFolio is not affiliated with them. We only use the name MSCI World to say which index the comparison approximates.

15. Liability

If we do not perform the contract properly, we are liable under the law. As far as the law allows, the following also applies:

• DeFolio gives information, not advice (section 4). We are not liable for the outcome of investment, tax or other financial decisions you make based on DeFolio's figures, or for losses on your investments.
• We are not liable for the loss of data stored in your browser or in your backup files. You can always import your DeGiro exports again (section 10).
• We are not liable for indirect damage, such as lost profit or missed savings.
• Our total liability is limited to the amount you paid us in the 12 months before the event that caused the damage, or €100 if that is more.

These limits do not apply if the damage was caused by intent or gross negligence on our part, in case of death or personal injury, or in so far as mandatory law does not allow them.

Please report damage to us as soon as reasonably possible after you discover it, so we can limit it.

16. Force majeure

We are not liable for not performing the contract if this is caused by circumstances beyond our control, such as a large-scale internet or power outage, an outage at our hosting, sign-in or payment provider or at a data source that we could not reasonably prevent, a cyberattack despite reasonable security, or government measures. If such a situation lasts longer than 30 days, you may end your subscription, and we refund what you paid for the period after it ends.

17. Changes to these terms

• We may change these terms, for example when the law or DeFolio changes. We tell you by email at least 30 days before a change takes effect, and what changes.
• If you do not agree, you can cancel before that date. Your subscription then ends on the day the change takes effect, and we refund what you paid for the period after that day.
• Changes that are only in your favour, or that the law requires sooner, may take effect earlier.

18. Complaints

• If you have a complaint about DeFolio, email defolioapp@gmail.com with a clear description. We confirm receipt within 5 working days and give you a substantive answer within 14 days after we received your complaint. If we need more time, we tell you within those 14 days when you can expect an answer.
• If we cannot resolve it together, you can take the dispute to court (section 19).

19. Applicable law and disputes

• Dutch law applies to these terms and to the contract. If you live in another country of the European Union, you also keep the protection of the mandatory rules of the law of that country.
• Disputes are brought before the competent court in the Netherlands. If you live in another country of the European Union, you may also bring a dispute before the court where you live, and we can only bring a claim against you there.

20. Other provisions

• If a provision of these terms is invalid, the other provisions remain in force. We then replace the invalid provision with a valid one that comes as close as possible to its purpose, in so far as the law allows.
• We may transfer the contract to another company, for example if DeFolio is sold, provided your rights are not reduced. We tell you in advance, and you may then cancel free of charge.
• We contact you by email, at the address of your account. Keep it up to date.
• These terms are available in Dutch and English. If the two versions differ, the Dutch version prevails.
• Questions about these terms? Email defolioapp@gmail.com.