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Acceptance of the Terms and Conditions
- These Governance Terms and Conditions (the “Terms”) are a binding agreement
between KonohaFX, (the “Company,” “us” “our” or “we”) and you, the
person who uses the services described herein and/or the Website (the
“Client,” “you” “your” or “yourself”).
- By your use of the Website and/or opening an account to use our services, you agree to comply
with the terms and conditions governing your use of the Website and the services offered through
the Website (the “Services”).
- In addition to the Terms, you should also read our Privacy Policy at
privacy policy (the
“Privacy Policy”) carefully, which sets out how we
collect and use your personal information, and is an integral part of these Terms.
- The Company shall be entitled to modify, change, or amend the Terms at any time and shall post
the amended Terms on the Website, indicating the date the Terms were last amended. You shall be
solely responsible for checking for any such updates from time to time. If you do not agree with
any modification to the Terms your sole and exclusive remedy is to terminate your use of the
Services and close your Account (as defined below).
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Summary of the Services
- Our Services allow you to enter into Transactions with the Company for CFD trading, in
accordance with the Terms herein. “CFD”, or Contract for Difference, enables traders and
investors an opportunity to profit from price movement without owning the Underlying Assets,
where the profits are calculated by the movements in the prices of the Underlying Asset between
trade entry and exit, computing only the price change without consideration of the asset’s
underlying value.
- CFDs are over-the-counter derivative Financial Products, which are not traded on any exchange
and do not provide its holder with any rights or in the Underlying Asset.
- For the purposes of these Terms, “Underlying Assets” means the security, index, commodity,
foreign exchanges, futures contract, bullion or other instrument or asset or factor the
reference to which the value of CFD is determined.
- For the purpose of these Terms “Price” means the price or rate quoted by us (as adjusted for any
fees and/or charges) and agreed to by you, whether it’s a buy price or a sell price.
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Registration and Your Account
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In order to use our Services and initiate any Transaction, you understand that you must open an
account through our Website (your “Account“) and undergo our registration
process, including without limitation, for the purposes of KYC, as shall be further described
herein. You will be prompted to create a username and password to open your Account on the
Website (your “Log-In“) and to proceed with registration. During the
registration process, you shall provide us with requested information, which may include,
without limitation, your name, identification number, birthdate, e-mail address, postal address,
telephone number, and/or credit card information details, as applicable (“Registration
Details“). You will use your Log-In to access your Account and Registration
Details, as well as to access any other information that may be posted to your Account from time
to time, such as transactional activity once you have been approved to use our Services.
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You warrant and represent that all Registration Details that you provide to us, are true,
accurate, and complete, and that you shall promptly update your Registration Details upon any
changes to this information. You understand and agree that the name you provide must match the
name on the credit/debit card(s), bank details, and other payment accounts [(e.g. personal
virtual wallet)] which you provide to us.
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You further acknowledge and represent to us the following:
- you are at least 18 years of age and the legal age to enter into a binding agreement in
your location;
- you are of sound mind and capable of taking responsibility of your own actions with the
full legal capacity to accepts these Terms;
- the purpose of your Account is for your own personal use;
- you shall only open one Account with the Website;
- you shall not assist others in obtaining unauthorized access to the Website, Services
and/or your Account and/or any other activity on the Website that has been strictly
authorized to you;
- you shall not access the account of any other person through the Website; and
- you shall be fully responsible for any activities undertaken by you on the Website and
during the registration process.
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You also acknowledge that certain restrictions may apply to CFD trading based upon applicable
laws and regulations in your jurisdiction that may restrict us from entering into certain
Transactions with you, and you understand that we have the right not to enter into any
Transaction with you.
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Confidentiality. You understand that you are responsible for maintaining the
confidentiality of your Log-In, Account, and Registration Details and the safeguarding of your
information. You understand that any compromise of your Log-In, Registration Details, and/or
other Account infromation may expose your personal and confidential information to unauthorized
access by a third party, which may also result in loss or theft of your funds, as well as any
linked accounts, such as your linked bank accounts and credit cards.
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You are responsible for the security of your Account information on your own personal computer
and internet access location. You understand that if your username and password combination is
“hacked” from your computer due to any viruses or malware that is present on the computer, or
other device, from which you access the Website, the Company shall have no liability and you
shall maintain responsibility. You should report any possible hacking attempts or security
breaches from your computer terminal, or other device, immediately to the Company.
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In the event you have any knowledge of: a) a third party gaining access to your Log-In and/or
Account or other breach of security related to your Log-In and/or Account, b) compromise of your
personal information, and/or c) any other unauthorized use of your Registered Details on the
Website, you should notify us immediately by sending an email, to
[email protected]
including all relevant details.
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Unauthorized Use. In the event you create a Log-In, open an Account, and gain access to
the Services without our permission, we reserve the right to immediately suspend or terminate
your use of the Website, as we deem appropriate, as well as suspend or terminate any pending
orders or transactions; and we reserve the right to seek any other remedy to which the Company
may be entitled for such violation and the Company may take further actions against you.
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Security Alerts. The Company does not guarantee to provide you with security alerts or
any other alert and the Company shall not be held liable for not providing any alerts. In no
event will the Company be held responsible for any damages or losses which you may sustain as a
result of compromise of your Log-In, Registration Details, or other Account information, other
than due to the gross negligence of the Company.
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No Criminal Activity Permitted. You hereby represent and warrant that you are in
compliance with all applicable laws and regulations. Any criminal activity or fraudulent acts
committed by you or under your supervision and/or control through your use of the Website and/or
our Services are absolutely not permitted. You affirm and declare that you shall not perform or
attempt to perform any such activity, including but not limited to, fraud, money laundering,
illegal gambling operations, terrorist financing, or malicious hacking. You also agree not to
hide your IP location and you shall always disclose your accurate and true location.
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Know Your Customer (“KYC”), AML Policy, and Compliance
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As part of our KYC procedures and in order for you to be approved to use our Services, we will
conduct a verification process to verify your Registration Details and confirm your identity and
eligibility to use our Services. During this verification process, we may request certain
documents from you, which may include proof of address, such as a utility bill, proof of your
payment method and a copy of a government issued identity card. We reserve the right to require
certified or notarized copies at your expense. You understand that we shall be under no
obligation to accept any documents as valid. In addition to documentation, we may also choose to
verify your identity through a video and/or audio call conference (collectively, the
“KYC
process”).
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Along with our KYC procedure, we have implemented certain checks to prevent money laundering
(the “AML
policy”). Money laundering means the disguising of the source of proceeds
derived from criminal activity so that it appears as though it came from legitimate sources of
income. In order to prevent any criminals from laundering or attempting to launder criminal
proceeds through our Website or Services, the Company has set forth the AML policy.
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You acknowledge that in order to conduct such verification process and/or background checks, in
accordance with our KYC procedure and AML policy, we may perform inquiries, directly or
indirectly through third party service providers to prevent fraud, suspicious activity,
misidentification, money laundering or any other prohibited activity. We reserve the right to
take any action we deem necessary with respect to the outcome of such inquiries. You agree and
consent to the Company’s global transfer, if necessary, of your information as required for its
legitimate business purposes. The Company will retain your information to perform KYC checks for
the period necessary to perform the KYC/AML reviews, and as required to comply with the
Company’s legal obligations.
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In the event that you fail our internal compliance and security checks for any reason, you may
be prevented from using our Services, accessing the Website, and/or we may limit or suspend your
use of the Services and/or Website at any time. You understand that the outcome of such KYC/AML
reviews, including a decision not to approve you to use our Services, is within the Company’s
sole and absolute discretion, and we are under no obligation to provide feedback on the exact
nature of our findings.
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Suspension or Termination of Your Account
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In the event the Company determines, in its sole discretion, that any activity you perform
through our Website is suspicious or related to any prohibited activity, the Company may cancel
or suspend your Account and/or access to the Website, block any outstanding transactions, deny
any new transactions, and/or freeze any funds that may be available to you through our Services.
You understand that you shall be held liable for losses incurred by the Company or by any third
party due to the Client’s non-compliance and/or violation of any of the foregoing rules. The
Company shall be entitled to inform any relevant authorities or entities (including credit
reference agencies) of any payment fraud or other criminal activity, and may also engage
collection services to recover payments. You further acknowledge and understand that the Company
also has the right to suspend or terminate your for any other reason.
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You may terminate your Account at any time by submitting your request to terminate your Account
at
[email protected].
You will be responsible for fulfilling any outstanding payment obligations to the Company
existing as of the effective date of termination and to settle any pending transactions, and to
pay any applicable fees or charges. The Company reserves the right to suspend any pending
transactions at the time of your termination.
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You acknowledge that you are solely responsible for any applicable taxes with respect to your
transaction(s) on the Website and/or through the Services. The Company is not and at no point
shall provide any tax advice concerning your CFD trading or any other Transaction through this
Website and/or the Services. It is your responsibility to report, pay and remit the taxes, as
applicable, to the appropriate tax authorities in the relevant jurisdiction(s).
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Unless otherwise agreed, the terms of any amounts payable by you under these Terms are stated
exclusive of any taxes or mandatory payments. You must pay any such taxes or mandatory payments
to the relevant government agency, or otherwise, which may apply under applicable laws, and you
agree to fully indemnify us for any such payments we may be required to make on your behalf. You
hereby agree and represent that we may debit your Account in the amount of any such payments we
are required to make on your behalf.
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Service Fees and Charges
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You agree to pay to us the following fees and charges (collectively, the “Fees“):
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Withdrawal Fees
Please refer to the Company’s withdrawal policy that can be found in the following link:
Withdrawal, Refund,
and Cancellation Policy.
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Dormant Account Fees
In the event that no Transaction has been executed through your Account for 30
consecutive days, we maycharge your Account with Dormant Account Fees in the amount of
99 (ninety nine) USD/ GBP/ EUR per each such period. You hereby explicitly confirm and
authorize us to charge your Account with the Dormant Account Fees, which shall be
deducted automatically.
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Event of Default charges
We may charge you, debit your Account or otherwise be reimbursed by you for any costs
and expenses which may apply to us pursuant to your Event of Default. An Event of
Default shall mean any breach by you of these Terms, or you becoming in any way unable
to pay your obligations (e.g. if you become insolvent or bankrupt, or a receiver,
manager or administrator is appointed to you or any of your assets).
- Overnight Fees
- A daily charge may apply to each Forex or CFDs open position at the closing of
the Company’s trading day (the “Overnight Fee“). If the
Overnight Fee is applicable, it will be paid by the Client directly to the
Company from the Clients’ Trading Account Balance. The method of calculation of
the Overnight Fee varies according to the type of FX/CFD to which it applies to.
The Overnight Fee will be debited from the Client’s account on the next trading
day following the day to which it relates.
- The Company reserves the right to change the method of calculating the Overnight
Fee, the financing rates and/or the types of FX/CFDs to which the Overnight Fee
applies. For certain types of FX/CFDs, a commission is payable by Client to open
and close FX/CFD positions. Such commission payable will be debited from
Client’s account at the same time as the Company opens or closes the relevant
FX/CFD. Changes in our swap interest rates and calculations shall be at our own
discretion and without notice. Clients need to always check information for the
current rates charged. Information concerning the swap rates for each Financial
Instrument is displayed on the Trading Platform. Rates may change quickly due to
market conditions (changes in interest rates, volatility, liquidity etc.) and
due to various risk related matters that are at the Company’s sole discretion.
- Any open FX/CFD transaction held by a Client at the end of the trading day as
determined by the Company or over the weekend, shall automatically be rolled
over to the next business day so as to avoid an automatic close and physical
settlement of the transaction. Client acknowledges that when rolling over such
transactions to the next business day a premium may be subtracted from the
Client’s account with respect to such transaction.
- Information concerning the Overnight Fee rates will be visible to you upon
pressing the right arrow dropdown option avilable near each transaction on the
Trading Platform.
- If you are in a selling position you will find the Overnight Fee (percentage)
listed under the “Sell Rollover” section of the dropdown. If you are in a buying
position you will find the Overnight Fee (percentage) listed under the “Buy
Rollover” section of the dropdown.
- On Wednesday around 00:00 GMT, the overnight fees are multiplied by three (x3)
in order to compensate for the upcoming weekend.
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Additional Fees and Expenses
We may charge you, debit your Account or otherwise be reimbursed by you for any costs
and expenses which may apply to us by third parties in connection with your trading with
us, including but not limited to any transaction charges, commissions, fees, Prices,
premiums, settlement and clearing fees, legal expenses and taxes.
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Fees in connection with Third Parties. You acknowledge and agree that:
- We may receive commissions and other benefits from third parties in relation to
Transactions we enter into with you or on your behalf or in connection with
other services provided to you. We are entitled to retain such commissions and
benefits;
- If you have been referred to us by or on behalf of a broker or other third
party, that broker or third party may receive benefits in the form of a
commission or rebate from us;
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You hereby explicitly agree and consent that any Fees which shall be payable by you shall be
deducted from your Account without prior notice.
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All Transactions are entered into between you and us as principal. Transactions involve opening
or the closing out of a CFD. You acknowledge that all Transactions are based upon a Price we
quote and agreed to by you. You also understand that we are not required to enter into any
Transaction with you. For the purposes of these Terms, a Transaction may also be referred to as
a CFD hereinafter.
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Prices for such CFD transactions are quoted by the Company with a buy price and a sell price.
The price quote given to you by us allows you to enter into the Transaction at the higher quoted
price or to close out an existing CFD at the lower quoted price.
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Long and Short Positions. When entering into a CFD in the expectation that the price of
the Underlying Asset will increase, you go “long” and enter into a long position. When entering
into a CFD in the expectation that the price of the Underlying Asset will decrease, you go
“short” and enter into a short position. Generally, in a long position you will buy, and in a
short position you will sell. Please see Appendix 1 to these Terms for examples of going long
and short.
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Before you enter into a Transaction, you are required to hold sufficient funds in your trading
account incloding the Margins (as defined in Section 10 below).
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Orders. To enter into a Transaction, you must choose one of the offers on the Website and
requesto to open the relevant Transaction (“Order“). Any Order you insert shall
be considered pending, not be binding on us until confirmed and executed by us, which may be
immediate or may take some time, based on various factors, including technological setbacks and
market conditions. Once an Order is accepted, the Transaction is final and irreversible, and can
not be cancelled. We may reject any Order inserted by you, for any reason whatsoever, including
if we believe there has been an error or a price manipulation of any sort.
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Confirmations. After we execute your Order and open the subsequent Transaction, you will
automatically receive from us a confirmation via the Company’s online trading platform (the
“Platform”) or other electronic format (e.g. email). You must review any confirmation or
statement immediately to ensure its accuracy and you must report any discrepancies to us as soon
as reasonably practical. Confirmations are deemed to be conclusive and binding on you if not
objected to by you in writing within 48 hours of the confirmation being made available to you.
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You will not be able to enter into any new Transactions where the Underlying Asset is subject to
a trading halt or suspension by the relevant market (or if the relevant index is suspended), or
otherwise not being able to be traded.
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Closing Out. Generally, CFDs do not have an expiry date. They remain open until they are
closed in accordance with the terms of your Transaction. When you wish to close a CFD position,
you enter into a CFD which is equal and opposite to the open CFD. To proceed in this manner, you
must contact a Company representative via the Platform and we will determine the current market
value (or level) of the Underlying Asset for the CFD, with the view to closing the CFD position
(or part of it).
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Upon receiving the quote of the current market value from us, you will have the opportunity to
accept the value. Upon your decision to accept, the next step involves your instruction to us to
close your open position in accordance with your instructions. The total closing value is then
determined by multiplying the number of CFDs by the value of the CFD’s Underlying
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In the event the Underlying Asset has its own termination or expiry date, then the relevant CFD
will terminate on or before the expiry of the Underlying Asset, unless earlier terminated by you
or upon your instructions to rollover the CFD. For example, a CFD over a futures contract traded
on an exchange usually has a fixed expiry date, and generally, prior to termination, the
exchange will issue a notice of that expiry. It is your responsibility to monitor the notice
dates and expiry dates of any Underlying Assets for your CFDs.
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When you open a CFD, you may also have the option to pre-determine a close-out date based on the
occurrence of certain events or market prices.
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We shall have the right, in our sole discretion and without providing you any prior notice, to
close out any open CFD immediately, at the occurence of any of the following:
- Your breach of these Terms or of any of your obligations to us;
- Any Adjustment Event (see Section 12 below);
- We reasonably suspect any market manipulation or price manipulation has taken place;
- Any material error has occured in relation to that CFD; or
- Any technical problem occurs, which requires the close out of the CFD.
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Payment Rights upon Closing. On the day that the CFD is closed, we will calculate the
remaining payment rights and obligations to reflect movements in the contract value as of the
close of the previous business day (including other credits/debits).
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Errors. In the event the Company, in its sole discretion, determines that a Transaction
was affected by a substantial error or technical malfunction in any way (whether before or after
the Transaction was opened), the Company may cancel, void and/or terminate the Transaction, in
its sole discretion. The Company may take any such action even after the Transaction is closed
and settled, thus reversing any payout already made to or from your account. You hereby
acknowledge that such action may affect the balance in your account. In any such event, the
Company shall provide notice to you explaining the error or malfunction and the actions taken by
it.
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Deposits, Withdrawals, Cancellations & Chargebacks
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Deposits. In order to initiate any Transaction, you must first maintain sufficient
cleared funds into your Account by way of deposits to cover your desired transaction. You may
deposit funds through the use of credit card payment, a bank transfer or a virtual currency
transfer to the account provided by the Company. You understand and acknowledge that the payment
methods accepted by the Company may change from time to time at our discretion. The Company, at
its sole dicretion, may require a minimum amount to deposit and may change the minimum from time
to time.
- Withdrawals are subject to the Company’s
Withdrawal,
Refund, and Cancellation Policy.
- All of your deposits and withdrawals shall be recorded under your Account.
- Cancellations are subject to the Company’s
Withdrawal,
Refund, and Cancellation Policy.
- You understand and acknowledge that the Company cannot guarantee that your credit card provider
or bank will accept the funds and it is your responsibility to ensure that the credit card
company or bank that you wish to use will accept your funds.
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Chargebacks. You agree that you will not make or attempt to make any chargebacks, and/or
deny or reverse any payment or deposits that you have made. You hereby agree that you will
reimburse us for any chargebacks, denial or reversal of your payments or deposits and any loss
suffered by us as a consequence of this. In any such event, we reserve the right to cease to
provide the Services, terminate the Terms, withhold payments to you, and take any further action
which we may see as appropriate.
- You also agree that the Company may, at any time, set off any amount owed by us to you against
any amount owed by you to us and adjust your Account records to reflect any changes resulting
from such set-offs.
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Leverage and Margin
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CFDs are leveraged products, meaning that you are required to pay only a certain fraction of the
total value of the contract in order to enter and maintain a CFD (“Margin”).
This means that with a small amount of money you are able to control a larger amount, giving you
a higher market exposure. You should be always aware that just as the leverage may work in your
favor, magnifying your gains, it may also work against you, in similarly magnifying your losses.
Since the CFDs are leveraged instruments, by trading them you are exposed to the risk of losing
your entire investment.
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There are two types of Margin or “Margin cover” applicable to your Account:
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an “initial” margin, to enter into a CFD (the “Initial Margin”), which
will typically be a percentage of the total value of the contract, to be determined by
us;
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a “maintenance” margin, meaning a margin to maintain the Margin cover in light of
adjustments to the percentage of value of the security allowed as Margin cover or other
trading platform adjustments not related to the price movements of the financial
products (a “Maintenance Margin”).
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Margins must be held as long as a position is open, as further explained under Section 10. The
minimum Margin will be set by us and can be changed at our sole discretion at any time according
to the movement in the market, and represent a percentage of the total value of the CFD, and
shall typically be between 0.25% and 50%, but may be as high as 100% of the CFD value. For
example, if the value of a CFD is $220,000, the Margin might be $22,000, which represents 10% of
the CFD value.
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The Margin cover is usually provided from available funds in your trading account. This means
that you must hold sufficient funds in your trading account before you can open a position.
Owing to the volatility of the market, the amount of required Margin cover may change after a
position has been opened, requiring a Maintenance Margins to be paid by you at that time. The
Margin requirement is calculated to cover the maximum expected movement in the market at any
time.
- Please see Appendix 1 for trading examples and how the Margin requirements apply.
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Margin Calls
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We may call in a request for you to deposit additional funds into your Account to meet Margin
requirements and maintain your open position (“Margin Call”).
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Upon receipt of a Margin Call, you may either reduce your position in order to reduce your
Margin requirement or deposit additional funds into your account to increase the equity amount
and satisfy the Margin Call.
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During the period commening from the moment you receive a Margin Call, and until the completion
of one of the two steps above, you will not be able to open new positions. In the event you do
not comply with a Margin Call, we reserve the right to close out all or some positions in order
to protect against exposure to further losses. Any losses resulting from Closing Out your
positions will be debited to your trading account and you may be required to provide additional
funds.
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It is important to note that we are under no obligation to send you a Margin Call, and that the
obligation to pay the Maintenance Margins is upon you, and it incurs at the time of the
occurrence of any movement in the market which results in an unrealised loss, regardless of
whether a Margin Call is demanded.
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In the case where you choose to deposit additional funds to comply with a Margin Call, it is
your responsibility to provide the payment in cleared funds on time, taking into account the
processing time of the deposit.
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Closing Out upon Adjustment Events
- Should any event which gives us the discretion to adjust to the terms of the CFD occur (each, an
“Adjustment
Event”), whether prior to or after you entered into a position relating
thereto, we may, at our sole discretion:
- Adjust any of the terms (including the price) of a CFD in accordance with this Section;
or
- If we determine (in our sole discretion) that it is not reasonably practicable to make
such an adjustment, we may Close Out the CFD in accordance with these Terms.
- An Adjustment Event may be, for example, each of the following:
- Any event which has a dilutive or concentrative effect on the market value of the
Underlying Asset;
- If the Underlying Asset is a derivative which is able to be traded on a market – any
event in respect of which the operator of the market makes an adjustment to the terms of
the Derivative.
- If the Underlying Asset is a share, debenture, unit or other security (or depositary
receipt of any kind in respect of such) – upon any consolidation, reclassification or
sub-division, buy back, in specie distribution, takeover, scheme of arrangement or
similar event or other corporate action event in respect of the security, whether or not
the event triggers an adjustment to any exchange traded derivative of it;
- A distribution to existing holders of additional shares or other securities or other
financial products granting them the right to receive dividends or other proceeds
equally and proportionately with payments made to holders of the underlying securities;
or securities, rights or warrants granting the right to a distribution of shares or to
purchase, subscribe, or receive shares, in any case for payment (in money cash or
money’s worth) at less than the prevailing market price per share as determined by us;
or
- If the Underlying Asset is an index, a substantial adjustment to the composition of the
index outside its own terms allowing for adjustments or weightings; a failure to publish
the index or a suspension or cancellation of the index.
- Adjustment of CFDs
- Following our determination that an Adjustment Event has occurred, we will determine the
adjustment, if any, which should be made in the CFD in order to place the parties in
substantially the same economic position they would have been in had the event not
occurred.
- We will notify you as soon as practicable of the adjustment, which will be deemed to be
conclusive and binding on you.
- Closing Out CFDs
- If at any time after the occurrence of an Adjustment Event we determine (in our sole
discretion) that it is not reasonably practicable to make an adjustment in accordance
this Section, we may at any time after the Adjustment Event close out the Transaction.
- If the Underlying Asset is subject to a take-over offer or similar event, we may at any
time prior to the closing date of such offer, close out the CFD at our sole discretion.
- If the issuer whose security represents the Underlying Asset on which all or part of a
CFD is based becomes externally administered, the CFD will be taken to have been closed
out at that time. The closing price of the CFD will be determined by us in good faith,
considering a number of factors we deems appropriate including, for example, the last
traded price of the Underlying Asset.
- If the Underlying Asset on which the CFD is based becomes subject to a trade halt or
suspension under the rules of the relevant market, or ceases to be listed for quotation
on a market for 2 consecutive Business Days, we may, in our absolute discretion, close
out all relevant CFDs.
- Prior to the adjustment or closing out of a CFD under this Section 11, we might give you notice
of our intention to do so, including the terms of such adjustment or closing out. Provided,
however, that should we determine, at our sole discretion, that it is not reasonably practicable
to give you such notice prior to the adjustment or closing out of a CFD, we may do so as soon as
reasonably practicable thereafter, which shall not affect the terms and the time on which the
adjustment or closing out of the CFD has taken place. Any such notice shall be provided to you
via the Platform and/or by email.
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Intellectual Property; Website Technology
- The brand names relating to the Website and any other trademarks, service marks and/or trade
names used by us either on our own behalf, or on behalf of our licensors, are owned by us, or
our licensors (the “Trade Marks”). In addition to the Intellectual Property
Rights (“IPR”) in the Trade Marks, we and/or our licensors own the IPR in all
other content of the Website (the “Content“). By using the Website and/or the
Services, you shall not obtain any rights in the Trade Marks or the Content and you may only use
the Trade Marks and Content in accordance with the Terms.
- You may only use the software connected to the Website (the “Software“) and all
content derived from the Software, including, but not limited to, the copyright and all other
IPR in the Software, in connection with the Services for your personal and non-commercial use
and in accordance with the Terms. The Software’s code, structure and organization are protected
by IPR.
- For the purposes of these Terms, “Intellectual Property Rights” or “IPR” shall mean means
pending or granted patents, trademarks, service marks, trade names, registered and unregistered
designs, trade or business names, copyright (including, but not limited to, rights in software),
and any applications for any of the aforesaid, database rights, design rights, know-how, trade
secrets, rights in confidential information and any other intellectual property rights
whatsoever irrespective of whether such intellectual property rights have been registered or not
which may subsist in any part of the world.
- You hereby undertake not to: (a) copy, redistribute, publish, reverse engineer, decompile,
disassemble, modify, translate or make any attempt to access the source code to create
derivative works of the source code, or otherwise; (b) sell, assign, sublicense, transfer,
distribute or lease the Software; (c) make the Software available to any third party through a
computer network or otherwise; (d) export the Software to any country (whether by physical or
electronic means); or (e) use the Software in a manner prohibited by any laws or regulations
which apply to the use of the Software (collectively, and individually, the “Prohibited
Actions”).
- You shall be held liable for any loss, including direct and indirect damages, costs or expenses,
we may suffer as a result of your Prohibited Actions. You agree to immediately notify us if you
commit any Prohibited Actions or if you have knowledge of any third party committing any
Prohibited Actions. You agree to provide us with reasonable assistance with any inquiry or
investigation we may conduct as a result of the information provided by you in regards to the
Prohibited Actions set out above.
-
Beware of Viruses and Phishing. You understand and bear the risk that any use of the
internet may be subject to a virus attack and/or communication failure. You should use a
reputable and available virus screening and prevention software at all times. The Company shall
not bear any liability, whatsoever, for any damage or interruptions caused by computer viruses,
spyware, Trojan horses, worms or other malware that may affect your systems, computer or other
equipment, or any phishing, spoofing or other virus attacks. The Company cautions you to
carefully review any electronic messages purporting to originate from the Company, and to be
aware that electronic devices are vulnerable to phishing and spoofing scams and additional
viruses. The Company advises you to always provide your Log In through the Website only and
avoid using unauthentic communications advising you of other options to provide your Log In (or
other Registration Details) to gain access to the Services offered through the Website.
-
External Websites and Third-Party Signal Providers
The Company makes no representations and takes no responsibility whatsoever
regarding any third-party websites, services, or content which you may access through this Website.
The Website or the Company’s representatives may present links or other forms of references to other
websites, resources or market research providers (including but not limited to market research
provider “Trading Central”), (the “External Websites”) over which the Company has
no control. You acknowledge that the Company may present such links or references to you only as a
convenience and that Company does not endorse any of the External Website services or offerings made
to you or any content provided therein. The Company is not responsible for the availability of, and
content provided on External Websites. You are requested to review the policies posted by the
External Websites regarding privacy and other topics before use. The Company is not responsible for
third party content accessible through the Website, including opinions, advice, statements, prices,
activities, and advertisements, and you shall bear all risks associated with the use of such
content. It is up to you to take precautions to ensure that whatever you select for your use is free
of such items as viruses, worms, Trojan horses and other items of a destructive nature. If you
access any such External Websites you agree that you do so at your own risk, you agree that we will
have no liability arising from your use of or access to any External Websites and you agree that you
understand that past performance is not a reliable indicator of future performance. You are
requested to review the policies posted by the External Websites regarding privacy and other topics
before your use.
-
No Warranty
CLIENT HEREBY ACKNOWLEDGES AND UNDERSTANDS THAT TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW AND EXCEPT AS OTHERWISE EXPRESSLY SPECIFIED IN WRITING BY THE COMPANY,
(A) THE USE OF THE SERVICES, SOFTWARE AND WEBSITE IS, ON AN “AS IS” AND “AS AVAILABLE” BASIS,
WITHOUT ANY WARRANTIES OR REPRESENTATIONS OF ANY KIND, AND THE COMPANY EXPRESSLY DISCLAIMS ALL
IMPLIED WARRANTIES AS TO THE SERVICES, SOFTWARE, AND WEBSITE, INCLUDING, WITHOUT LIMITATION, IMPLIED
WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT; (B) THE
COMPANY DOES NOT REPRESENT OR WARRANT THAT THE SERVICES, SOFTWARE OR WEBSITE ARE RELIABLE, CURRENT
OR ERROR-FREE, THAT THEY MEET CLIENT’S REQUIREMENTS, OR THAT DEFECTS IN THE SERVICES, SOFTWARE OR
WEBSITE WILL BE CORRECTED; AND (C) THE COMPANY CANNOT AND DOES NOT REPRESENT OR WARRANT THAT THE
SOFTWARE OR WEBSITE, ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS AND THE CLIENT ACKNOWLEDGES
THAT THE USE OF THE SERVICES, SOFTWARE, AND WEBSITE ARE AT THE SOLE RISK OF THE CLIENT.
-
No Liability
CLIENT ACKNOWLEDGES AND AGREES THAT TO THE EXTENT PERMITTED BY ANY
APPLICABLE LAW IN NO EVENT WILL THE COMPANY, ITS AFFILIATES, LICENSORS AND/OR SERVICE PROVIDERS, OR
ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES OR REPRESENTATIVES,
BE LIABLE FOR ANY AND ALL DAMAGES OR INJURY WHATSOEVER CAUSED BY OR RELATED TO THE USE OF, THE
SERVICES, SOFTWARE, AND THE WEBSITE, UNDER ANY CAUSE OR ACTION WHATSOEVER OF ANY KIND IN ANY
JURISDICTION, INCLUDING, WITHOUT LIMITATION, ACTIONS FOR BREACH OF WARRANTY, BREACH OF CONTRACT OR
TORT (INCLUDING NEGLIGENCE) AND THAT COMPANY, ITS AFFILIATES, LICENSORS AND/OR SERVICE PROVIDERS, OR
ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES OR REPRESENTATIVES,
SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES,
INCLUDING FOR LOSS OF PROFITS, GOODWILL OR DATA, IN ANY WAY WHATSOEVER ARISING OUT OF THE USE OF THE
SERVIES, SOFTWARE OR THE WEBSITE.
-
Indemnification
You agree to defend, indemnify and hold harmless the Company, its
subsidaries, connected companies, affiliates and service providers, and any of their respective
employees, officers, directors, agents, joint ventures, and representatives, from any claims,
demands, liabilities, damages, or costs (including attorneys’ fees, fines, or penalties) suffered by
the Company and arising out of or related to (i) breach by you of the Terms; (ii) your use of the
Website, Software, or Services or use by any other person accessing the Services or Software using
your user identification whether or not with your authorization; or (iii) any violation by you of
any law, rule, regulation, or the rights of any third party.
-
Risk Factors
- Trading in leveraged financial instruments, such as CFDs, carry a high level of risk, including
the risk of losing your entire invested capital, and may not be suitable for all investors. The
high degree of leverage can work against you as well as for you.
- Trading in CFDs should not be undertaken unless you understand and are comfortable with the
risks of CFDs. You should consider whether dealing in CFDs is appropriate for you in the light
of your circumstances and after carefully reviewing the all the risk factors of CFD.
- CFDs are derivative products that are speculative and carry significant risks. We do not make or
give any recommendation, advice or opinion in relation to CFDs. We do not take into account your
objectives, financial situation or needs. You should obtain your own independent financial,
legal, taxation and other professional advice as to whether the CFDs are an appropriate
investment for you.
- The Company neither takes responsibility for any loss, nor does it advise the Clients with
regards trading. The Company and the Client are counterparties and therefore, do not have the
same interest in an outcome of a given trade. You must trade in your sole discretion and based
on your personal knowledge. Moreover, We act as the contractual counterparty to your
Transactions, and not as your agent or broker. As such, you understand and acknowledge that an
inherent conflict of interest exists between you and us in this regard, and you should assume
that we have an economic incentive to be a counterparty to any Transaction with you.
-
Miscellaneous
-
Entire Agreement. These Terms comprise the entire understanding and agreements between
you and the Company as to the subject matter hereof, and supersedes any and all prior
discussions, agreements and understandings of any kind (including without limitation any prior
versions of this Agreement), and every nature between you and the Company.
-
Status of Parties. Both you and the Company are independent parties, and nothing in these
Terms shall be deemed to create between you and the Company any other form of relationship, and
the parties shall not be deemed to be partners, joint ventures or agents. You are not authorized
to make any obligations on behalf of the Company.
-
Assignment. You may not assign any rights and/or licenses granted under these Terms,
including without limitation, the right to use the Account which is exclusively for your
personal use. The Company reserves the right to assign our rights without restriction, including
without limitation to any Company affiliates or subsidiaries, or to any successor in interest of
any business associated with the Company Services. Any attempted transfer or assignment in
violation hereof shall be null and void. Subject to the foregoing, these Terms will bind and
inure to the benefit of the parties, their successors and permitted assigns.
-
Severability. If any provision of these Terms shall be determined to be invalid or
unenforceable under any rule, law or regulation or any governmental agency, local, state, or
federal, such provision will be changed and interpreted to accomplish the objectives of the
provision to the greatest extent possible under any applicable law and the validity or
enforceability of any other provision of these Terms shall not be affected.
-
Survival. All provisions of these Terms which by their nature extend beyond the
expiration or termination of these Terms, including, without limitation, sections pertaining to
suspension or termination, Company Account cancellation, debts owed to the Company, general use
of the Company Website, disputes with Company, and general provisions shall survive any
expiration or termination of the Terms.
-
Force Majeure. Company shall not be liable for delays, failure in performance or
interruption of service which results directly or indirectly from any cause or condition beyond
its reasonable control, including, but not limited to, any delay or failure due to any act of
God, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or
other labor dispute, fire, interruption in telecommunications or Internet services or network
provider services, failure of equipment and/or software, other catastrophe or any other
occurrence which is beyond Company’s reasonable control and shall not affect the validity and
enforceability of any remaining provisions.
-
English Language Controls. Any translation of the Terms, if provided, is provided for
your convenience alone. The meanings of terms, conditions and representations herein are subject
to definitions and interpretations in the English language. Any translation provided may not
accurately represent the information in the original English.
- If in the course of using the Services you are disclosed of any confidential information, you
are obligated to keep such confidential information in strict confidence and use it in
connection with the Services only. You may not disclose such confidential information without
the Company’s prior written consent. Upon termination of the Terms, or upon request, you are
obligated to immediately return to the Company or destroy any such confidential information that
you received from the Company. Confidential information shall include matters related to any
arbitration or related judicial proceedings, if any, to the greatest extent practicable.
-
Governing Law. The Terms and the relationship between the parties shall be governed by,
and interpreted in accordance with, the laws of saint vincent and the grenadines and you
irrevocably submit, for the benefit of the Company, to the exclusive jurisdiction of the courts
of saint vincent and the grenadines to settle any disputes (including claims for set off and
counterclaims) which may arise in connection with the creation, validity, effect, interpretation
or performance of, or the legal relationships established by, the Terms or otherwise arising in
connection with the Terms.
-
Status of Parties. Both you and the Company are independent parties, and nothing in these
Terms shall be deemed to create between you and the Company any other form of relationship, and
the parties shall not be deemed to be partners, joint ventures or agents. You are not authorized
to make any obligations on behalf of the Company.
-
Assignment. You may not assign any rights and/or licenses granted under these Terms,
including without limitation, the right to use the Account which is exclusively for your
personal use. The Company reserves the right to assign our rights without restriction, including
without limitation to any Company affiliates or subsidiaries, or to any successor in interest of
any business associated with the Company Services. Any attempted transfer or assignment in
violation hereof shall be null and void. Subject to the foregoing, these Terms will bind and
inure to the benefit of the parties, their successors and permitted assigns.
-
Severability. If any provision of these Terms shall be determined to be invalid or
unenforceable under any rule, law or regulation or any governmental agency, local, state, or
federal, such provision will be changed and interpreted to accomplish the objectives of the
provision to the greatest extent possible under any applicable law and the validity or
enforceability of any other provision of these Terms shall not be affected.
-
Survival. All provisions of these Terms which by their nature extend beyond the
expiration or termination of these Terms, including, without limitation, sections pertaining to
suspension or termination, Company Account cancellation, debts owed to the Company, general use
of the Company Website, disputes with Company, and general provisions shall survive any
expiration or termination of the Terms.
-
Force Majeure. Company shall not be liable for delays, failure in performance or
interruption of service which results directly or indirectly from any cause or condition beyond
its reasonable control, including, but not limited to, any delay or failure due to any act of
God, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or
other labor dispute, fire, interruption in telecommunications or Internet services or network
provider services, failure of equipment and/or software, other catastrophe or any other
occurrence which is beyond Company’s reasonable control and shall not affect the validity and
enforceability of any remaining provisions.
-
English Language Controls. Any translation of the Terms, if provided, is provided for
your convenience alone. The meanings of terms, conditions and representations herein are subject
to definitions and interpretations in the English language. Any translation provided may not
accurately represent the information in the original English.
- If in the course of using the Services you are disclosed of any confidential information, you
are obligated to keep such confidential information in strict confidence and use it in
connection with the Services only. You may not disclose such confidential information without
the Company’s prior written consent. Upon termination of the Terms, or upon request, you are
obligated to immediately return to the Company or destroy any such confidential information that
you received from the Company. Confidential information shall include matters related to any
arbitration or related judicial proceedings, if any, to the greatest extent practicable.
-
Governing Law. The Terms and the relationship between the parties shall be governed by,
and interpreted in accordance with, the laws of saint vincent and the grenadines and you
irrevocably submit, for the benefit of the Company, to the exclusive jurisdiction of the courts
of saint vincent and the grenadines to settle any disputes (including claims for set off and
counterclaims) which may arise in connection with the creation, validity, effect, interpretation
or performance of, or the legal relationships established by, the Terms or otherwise arising in
connection with the Terms.
Below are some examples to illustrate the variables for a typical Transactions and
how they affect the calculations. The variables of your actual Transactions will of course differ, as these
examples are for illustrative purposes only. These examples do not reflect any actual Transaction or market
conditions and are not forecasts or projections of any particular Transaction.
