Client Agreement
This Сlient Agreement (hereinafter — the Agreement) is concluded by and between:
VERTE SECURITIES LIMITED, registered under the laws of Vanuatu with a company registration number 700726 whose registered office is at Suite 1, Level 1, Icount House, Kumul Highway, Port Vila, Vanuatu, hereinafter — the Company), on the one part and an individual who has registered an Account on the website jetvix.africa (hereinafter — the Website) and/or the Jetvix Africa Mobile Application (hereinafter — the Mobile Application) and deposited funds for the purpose of concluding trading operations using financial instruments provided by the Company on the other part.
The Company is authorized and regulated by Vanuatu Financial Services Commision (hereinafter – VFSC) to provide services specified in paragraph 2(1)(ab) of the Financial Dealers Licensing Act (Chapter 70).
Unless otherwise specifically stated in this Agreement, all services provided by the Company through the Website are also provided through the Mobile Application.
1. General Provisions
1.1. The Client accepts the Agreement by registering and creating an Account on the Website and/or the Mobile Application. Acceptance of the Agreement means full and unconditional agreement of the Client to its terms and conditions.
1.2. Privacy Policy, AML&KYC Policy and other documents published in “Regulation” on the Website are integral part of this Agreement.
1.3. The Company has the right, at its sole discretion, to refuse anyone to enter into the Agreement with or without explanation of the reasons for the refusal or, in the event of registration, to terminate the contractual relationship and block access to certain or all functions of the Website.
2. Terminology
2.1.’Account’ means the Client’s account on the Website and/or in the Mobile Application, necessary for authentication and the provision of the Company’s services.
2.2. ‘Account Balance’ is the total amount of funds in the Client’s Account, excluding results of Open Positions (Profit&Loss).
2.3. ‘Account Equity’ is a current Account Balance with results of Open Positions (Profit&Loss).
2.4. ‘Ask’ is a price in the Quote at which the Client opens a Buy Order.
2.5. ‘Asset’ means currency pairs, commodities and stocks, stock indices, available for trading using a Trading platform provided by the Company.
2.6. ‘Client’s Real Account’ (‘Live Account’, ‘Account’) – a special Client account on the Trading Platform that reflects in real time the results of their Open Positions, Non-trading Operations, as well as other changes in the Company’s financial obligations to the Client. Possible Account currencies: US dollar.
2.7. ‘Base Currency’ is the first currency in the currency pair.
2.8. ‘Bid’ is a price in the Quote at which the Client opens a Sell Order.
2.9. ‘Bonuses’ (‘Bonus Funds’) are funds credited by the Company to the Client’s Account to increase their trading potential. Bonuses are not a financial obligation of the Company to the Client.
2.10. ‘Buy Order’ means Order for buying the Base Currency against the Quote Currency (Long Position).
2.11. ‘The Company Server’ is a software and hardware complex that provides streams of Quotes to the Client in real time and processes the Client’s Orders.
2.12. ‘A Demo Account’ means a virtual account for the Client on the Trading Platform, reflecting in real time the results of their Trading Operations on that account. The currency of the Demo Account always matches the currency of the Client’s Real Account. Demo Account funds are not a financial obligation of the Company to the Client.
2.13. ‘Deposit’ is monetary funds deposited by the Client in their Account.
2.14. ‘Free Margin’ is the amount of the Client’s funds available for opening of a new Position or for the Withdrawal.
2.15. ‘Leverage’ means the virtual credit given to the Client by the Company. A Leverage for each Asset is stated in the Annex 1. The Company has the right to change stated Leverage unilaterally depending on current market conditions.
2.16. ‘Log File’ is a file containing system information about the operation of the Company Server and information about the Client’s actions on the Website.
2.17. ‘Lot’ is a measurement unit of Position volume that contains a determined quantity of Base Currency or other Asset.
2.18. ‘Lot Size’ is a quantity of each Asset in one Lot as stated in the Annex 1.
2.19. ‘Margin Call’ is an event, when Margin Level falls away to the value either of one hundred percent (100%) and below, or of fifty percent (50%) and below. The Margin Call conditions shall be determined at the Trading Platform by default; the Client has an option to change the default Margin Call condition. Should an event of Margin Call happen, the Client would not be able to open a new Position, until the Margin Level rises above one hundred percent (100%) or fifty percent (50%) correspondingly.
2.20. ‘Margin Level’ is a ratio of the Account Equity to the Used Margin multiplied by 100%.
2.21. ‘Non-trading Operation’ means an operation involving making a Deposit into the Account or Withdrawing funds from the Client’s Account, as well as other operations that are not considered Trading.
2.22. Negative balance correction (NBC) is a measure taken by the Company in order to protect the Client and ensure that his loss on Trading Operations does not exceed his Account Balance.
2.23. ‘Open Position’ means a Position which has not been closed yet.
2.24. ‘Order’ is the Client’s order to execute a Trading Operation on the conditions specified in that order.
2.25. ‘Payment System Provider’ is a company that provides online services for conducting electronic payments.
2.26. ‘Profit&Loss (P&L)’ means current results of the Client’s Open Positions.
2.27. ‘Quote Currency’ is the second currency in the currency pair.
2.28. ‘Quote’ is the digital cost value of an Asset at a certain point in time.
2.29. ‘Sell Order’ means Order for selling the Base Currency against the Quote Currency (Short Position).
2.30. ‘Spread’ is the difference between the Ask and Bid prices.
2.31. ‘Standard lot’ is a unit of Trading turnover calculation. One (1) Standard lot is equal to one hundred thousand (100,000) USD.
2.32. ‘Stop Out’ is an event, when Margin Level falls away to the value either of fifty percent (50%) and below, or of zero percent (0%). The Stop Out conditions shall be determined at the Trading Platform by default; the Client has an option to change the default Stop Out condition. Should an event of Stop Out happen, Client’s Open Positions would be closed automatically starting with the most losing one, until Margin Level rises above fifty percent (50%) or zero percent (50%) correspondingly.
2.33. ‘Trade Size’ is a quantity of Lots in a Position.
2.34. ‘Trading turnover’ is closing a certain number of open Positions. Trading turnover is calculated in Standart lots. When calculating Trading turnover, both the Client’s own funds and funds received through Bonuses, promotions and Leverage are taken into account.
2.35. ‘Trading Activity’ means the Client’s actions involving making a Deposit into their Account, Withdrawing Funds, and execution of Trading Operations.
2.36. ‘Trading Hours’ mean the time period when an Asset is available for opening, closing and modifying Position. Trading Hours for each Asset are stated in its Instrument info section on the Trading Platform.
2.37. ‘Trading Operation’ is an over-the-counter operation with an Asset executed by the Client through the Trading Platform in cash settled mode.
2.38. ‘Trading Platform’ means a computer system that is accessed through the Client’s Account and is used to display Quote streams transmitted from the Company Server, to place the Client’s Orders, to reflect the results of their execution, and to perform other actions related to the execution of Trading Operations.
2.39. ‘Used Margin’ is the amount of the Client’s funds in all Open Positions. This amount is blocked and not available for opening a new Position or Withdrawal.
2.40. ‘Withdrawal of Funds’ is the debiting of monetary funds from the Client’s Account and transfer thereof to the Client using the Client’s payment details.
3. Registration and Verification of the Client
3.1. The registration and verification procedure is mandatory for the Client, who intends to open a Real Account and deposit funds.
3.2. To register on the Website and/or the Mobile Application, the Client must perform the following actions:
● enter their email address and create a password;
● accept the terms and conditions of this Agreement;
● confirm their email address through the letter sent by the Company.
3.3. By accepting the terms of this Agreement, the Client guarantees the following:
● that they are a legally capable adult;
● that they have read the terms of this Agreement and agree to them.
3.4. In order to ensure the legality and security of the provision of services, the Company conducts Know Your Customer procedure for verifying the identity of the Client and the information indicated by them. In pursuance this procedure, the Company has the right to request the Client to provide the documents (information) that may include but not limited to:
● completed KYC Application Form;
● passport or ID card;
● second ID document with photo (driver license or another document issued by a government authority);
● utility bill with the Client’s full name and address;
● bank reference of the Сlient’s personal account not older than 3 months / bank statement for the last 3 months
● copy of the Client’s bank card.
3.5. In order to establish whether the documents provided belong to a specific person, the Company also has the right to conduct liveness check – identification of the person using video communication means.
3.6. In case of replenishment of the Account by credit or debit card, the Company will request a scanned copy of the front and back sides of the card. The Client must ensure that only the first 6 and last 4 digits of the card number are visible. All other digits and the CVV code on the back side must be hidden for the Client’s protection.
3.7. Depending on the method of making Deposits and/or amount of a Deposit, the Company reserves the right at any moment to request supporting documentation to verify the actual owner of the account from which the funds were sent and/or documents confirming the legal source of funds, if such information is required either due to legal and/or regulatory obligations of the Company, or if such information is necessary for the Company to effectively offer its services to the Client.
3.8. The Company also has the right to request other documents if the documents provided earlier do not allow the Client to be fully identified and/or verify his payment details and confirm the information specified by them.
3.9. KYC procedure is carried out within seven (7) days from the moment the Client provides the full set of documents requested by the Company. In some cases, the Company has the right to extend this period to fourteen (14) calendar days.
3.10. If the Client unjustifiably refuses to provide the documents and/or information requested for KYC procedure, the Company has the right to refuse to provide its services to the Client.
4. Procedure for Conducting Non-trading Operations
4.1. The official methods of Account crediting and Withdrawal of Funds are the methods indicated on the Company’s Website when crediting or withdrawing respectively. The Client assumes all risks associated with the use of payment systems, as well as payment of commissions of payment systems and/or Payment System Providers for making payments and/or currency conversion. Should the Client make a Deposit using a currency that is different from the Account currency, the deposit amount credited to the account shall be determined under the currency exchange rate set by the Payment System Provider. The Company is not responsible for the delay or failure to make a payment from the Account or to the Client’s Account due to the fault of the payment system and/or the Payment System Provider. In the case of claims regarding the operation of any payment system and/or Payment System Provider on the part of the Client, they should contact the support service of that payment system and/or Provider accordingly. The Client is obliged to notify the Company of any cases of such complaints.
4.3. In order crediting the Account to be successfully completed, the name of the sender of funds must match the name specified in the registered Account (provided that the Payment System includes the name of the sender (Client) of funds). Crediting of an Account using the payment details of third parties is prohibited. The Company has the right to demand strict adherence to the accepted procedure for depositing and withdrawing funds. The Company reserves the right to suspend crediting the Client’s Account should it have any doubts the sender is not the registered Client or objective evidence the Client has lost an access to their Account.
4.5. For the Withdrawal of Funds from the Account, the Client creates a corresponding request using the internal interface of the Website. The minimum Withdrawal amount is $10. At the discretion of the Company, the minimum Withdrawal amount may be reduced in certain countries.
4.6. After the creation of the request, the amount of funds to be withdrawn is not debited from the Client’s Account until the exact moment the payment is made. Payments made at the request of the Client are non-refundable.
4.7. The Client is solely responsible for the accuracy and reliability of the data entered in their Withdrawal request.
4.8. A Client’s request for Withdrawal of Funds is processed by the Company within three (3) business days following the day of filing such a request. The moment of receipt of funds by the Client depends on the speed of transaction processing by the payment system and/or the Payment System Provider. The following limits apply to the Withdrawal of Funds on the Website: no more than $3,000 per day; no more than $10,000 before the end of the current week; no more than $40,000 before the end of the current month. These limits may be reduced in connection with the particular features of individual Withdrawal methods. The Client can learn the exact limits for the Withdrawal of Funds for each Withdrawal method from the Company’s Client Support Service using the contact information specified in the section 11 of this Agreement.
4.9. After giving prior notice, a Client’s request for the Withdrawal of Funds may be withheld by the Company’s Security Service without execution for up to ten (10) business days.
4.10. In order to comply with international legislation on countering money laundering (Anti-Money Laundering, AML), when Withdrawing Funds from an Account, the Company has the right to request from the Client confirmation that the account to which the Withdrawal is being made belongs to the Client, as well as notarized and, if necessary, apostilled/legalized copies of documents proving the identity, place of residence, and place of registration of the Client. In the event of unjustifiable refusal of the Client to provide these documents, the Company is entitled to decline the Withdrawal of Funds.
4.12. If the Client deposits funds into their Account and subsequently decides to withdraw them in full or in part without any Trading Operations, the Withdrawal fee will be ten percent (10%) of the Account Balance or the Client’s last Deposit, depending on which figure is greater.
4.13. The Company shall not be liable for the actions of third parties engaged in intermediary activities when the Client conducts operations to credit or withdraw funds from their Account.
4.14. When the Client conducts operations to credit their Account, the Company’s financial responsibility starts when the Client’s funds are received in the Company’s bank account and/or in the Company’s account in the payment systems indicated on the Website.
4.15. When the Client conducts operations to withdraw funds, the Company’s financial responsibility ceases when the funds are withdrawn from the Company’s bank account and/or from the Company’s account in the payment systems indicated on the Website.
4.16. The Client is solely responsible for any and all fees or commissions charged by the Payment Service Providers and (or) intermediaries, and the Company bears no responsibility for such charges.
4.17. The Company has the right to impose a limit on the Withdrawal of Funds equal to the sum of the Client’s Deposits for the last thirty (30) days.
4.18. In cases where the Company’s Security Service suspects the Client of fraud or deception, the Company has the right to block the Client’s Account without prior notice and without the possibility of Account crediting and Withdrawing Funds for the period up to ten (10) business days. Upon results of the Company’s Security Service investigation, Company has the right to block the Client’s Account permanently and deduct the amount of actual damage caused by the actions of the Client to the Company, as well as the profits that the Client received as a result of the fraud or deception, from the Client’s Account.
5. Refund Policy
5.1. All refunds shall be made through the Non-trading Operations as described in Section 4 of this Agreement.
5.2. Withdrawals from the Client’s Account are carried out in the same manner and using the same account that was used by the Client when crediting their Account. If for technical reasons this is not possible, the Client has the right to use another method and/or other account for the Withdrawal of Funds. In this case, the Client’s data for that account must coincide with the Client’s data specified during verification. The Company has the right to request proof from the Client to confirm the impossibility of the Withdrawal of Funds using the method and account that were used to credit the Account.
5.3. In the event of technical errors on the part of the Company when completing financial transactions, the Company reserves the right to cancel such transactions, as well as the results of services provided by the Company based on such transactions. The funds debited as a result from the Account of the Client will be refunded by the Company to the Account of the Client when and if an internal investigation reveals any technical errors and the Company has access to such funds.
6. Quotes
6.1. The Client acknowledges that when using the Company’s services, the only reliable source of information about Quote streams is the Company Server. Quotes displayed on the Trading Platform cannot serve as a reliable source of information on Quotes streams, since in the case of an unstable connection between the Trading Platform and the Server, some Quotes from the streams may not reach the Trading Platform.
6.2. The charts displayed on the Trading Platform are of an indicative nature. The Company does not guarantee that an Order will be executed according to the Quote displayed on the chart on the Trading Platform at the time the Client submits the Order.
6.3. The Asset Quote on the Trading Platform is determined as:
– Bid price for Sell Order and charts;
– Ask price for Buy Order.
6.4. If a Client’s Order is executed on a non-market Quote, the Company corrects the financial result of the Position in accordance with the market Quotes at the time of execution of that Order or cancels the result of the Position.
7. Procedure for Conducting Trading Operations
7.1. The processing of a Client’s Orders takes place in the following order:
7.1.1. The Client draws up an Order, which is then tested for correctness on the Trading Platform.
7.1.2. From the Trading Platform, the Client’s Order is transmitted to the Server, where it is retested.
7.1.3. After being retested, the Order is processed on the Server, and the result of the processing is transmitted to the Trading Platform.
7.2. The processing time of a Client’s Order depends on the quality of communication between the Trading Platform and the Server, as well as on the market conditions. Under normal market conditions, the processing time of a Client’s Order is usually 0-4 seconds. Under market conditions other than normal, the processing time of a Client’s Order may be extended.
7.3. Trading Hours of each Asset is indicated on the Trading Platform. Outside the specified period, the implementation of Trading Operations with the Asset, including opening new and closing current Positions, is not available.
7.4. Earnings on a Position are calculated using following formulas:
● (closing price – open price) * Trade Size * Lot Size for Buy Position;
● -1 * (closing price – open price) * Trade Size * Lot Size for Sell Position.
7.5. Opening Position
7.5.1. When opening a Position, the Client indicates the Asset, Order type, Trade Size, and the side. Next Order types are available on the Trading Platform:
7.5.1.1. Market Order is an Order, the result of which is Open Position.
7.5.1.2. Limit Order and Stop Order are pending Orders to open a Position when Quote reaches the price stated in the Order:
– Buy Limit Order is executed whenever the current Ask price becomes lower or equal to the Order price;
– Sell Limit Order is executed whenever the current Bid price becomes higher or equal to the Order price;
– Buy Stop Order is executed whenever the current Ask price becomes higher or equal to the Order price;
– Sell Stop Order is executed whenever the current Bid price becomes lower or equal to the Order price.
7.5.1.3. OCO (One Cancel Other) is a type of conditional order for a pair of orders in which the execution of one automatically cancels the other.
7.5.2. Besides, when opening a Position and before its closing, the Client can use the function ‘Protection Orders’ sending Stop Loss Order and/or Take Profit Order. Stop Loss and Take Profit are pending Orders that close an Open Position at a price stated in the Order in case the Position generates losses or profit respectively:
● Take Profit Order for a ‘Buy’ position is executed whenever the current Bid price becomes equal or higher than the Order price;
● Take Profit Order for a ‘Sell’ position is executed whenever the current Ask price becomes equal or lower than the Order price;
● Stop Loss Order for a ‘Buy’ position is executed whenever the current Bid price becomes equal or lower than the Order price;
● Stop Loss Order for a ‘Sell’ position: whenever the current ask price becomes equal or higher than the Order price.
7.5.3. The minimum and the maximum Trade Sizes for each Asset are stated in its Instrument info section on the Trading Platform. The Company has the right to change the minimum and the maximum Trade Sizes as well as establish and change the maximum total amount of all Open Positions of the Client.
7.5.4. A Client’s Order to open a Position will be rejected for the following reasons:
● the Client submits the Order before the first Quote of the Position Asset is received on the Trading Platform at the opening of the market;
● there are not enough available funds in the Client’s Account to open a new Position.
7.5.5. Client’s Order to open a Position may also be rejected by the Server under market conditions other than normal.
7.5.6. A Client’s Order to open a Position is considered executed, and the Position open, after a corresponding record appears in the Log File. Each Position on the Server is assigned a unique identification number (Order ID).
7.5.7. Every day at 0:00 UTC, a commission for overnight of each Open Position of the Client is debited from the Client’s Account. Rate of commission for each Asset is stated in its Instrument info section on the Trading Platform. The Company has the right to modify commissions from time to time without prior notice. All changes in commissions are stated on the Website.
7.5.8. The Client may request through the Client Support Service to disable overnight charges (swap free). In this case the Company reserves the right to charge periodic commissions in accordance with the Client’s trading turnover.
7.6 Closing Position
7.6.1. A Position is closed by the Client or automatically.
A Position is closed automatically:
● when Quote reaches the price stated in the Stop Loss or Take Profit Order; or
● in the event of Stop Out.
7.6.2. If the automatic closing of a Position (clause 7.6.1) falls during a time when execution of Order for the Asset of the Position is not available on the Trading Platform, the Position is closed immediately after the Quote of the Asset of the Position is received on the Trading Platform during the next trading period.
7.6.3. The closing of the Buy Position occurs at the current Bid price of the Position Asset that is on the Server at the time of the closing of the Position.
7.6.4. The closing of the Sell Position occurs at the current Ask price of the Position Asset that is on the Server at the time of the closing of the Position. Losses on all Client’s Open Positions cannot exceed 100% of the amount of the Client’s Account Balance.
7.6.5. In order for the amount of losses not to exceed the amount on the Account Balance, the Company applies Negative Balance Correction (NBC). NBC works as follows. If the amount of losses exceeds the amount on the Account Balance (it may become negative):
1) The Company checks whether the Client has Open Positions and incomplete Withdrawal operations;
2) The Company is waiting for closing of Open Positions and completion of Withdrawal operations or their cancellation;
3) If, after closing of Open Positions and completion/cancellation of Withdrawal operations, the Account Balance becomes negative, the Company executes NBC and the Account Balance becomes zero.
7.6.6. A Client’s Order to close a Position is considered completed, and the Position closed, after a corresponding record appears in the Log File.
7.6.7. Malfunctions and/or failures in the operation of computer equipment and software of the Company, unstable Internet connections, interruptions in the transmission of information streams, interruptions in power supply, malfunctions in the operation of exchanges, hacker attacks, as well as any illegal actions in regard to equipment and/or the Company Server, force majeure circumstances, and the suspension of trading on financial markets, which affect the Assets available on the Website are direct grounds for the invalidation of Orders executed under those circumstances.
8. Bonuses and promotions
GENERAL INFORMATION
8.1. From time to time the Company, on its sole discretion, may provide the Clients with Bonuses, promotions, other features and benefits, hereinafter together referred to as the “Event” in the singular form and the “Events” – in the plural form, that may be used to take advantage of the Trading Platform. Running Events by the Company is for the enhancement of the Clients’ experience of using the Trading Platform and the improvement of the level of the Company’s services. Participation in Events is the Clients’ sole and voluntary decision only.
8.3. Participating in the Event the Client fully and unconditionally accepts Event Terms and agrees and confirms that: (i) He/She will participate in the Event in a lawful manner; (ii) the Event may be ceased or canceled by the Company at any time for any reason with no liability or further obligations; (iii) the Event may be available only pursuant to its Terms and their fulfillment by the Client; (iv) the Event may expire, be changed, amended, ceased or canceled prior to the Client’s entry or fulfillment of its Terms; and (v) the Company has the right, on its own discretion, to cancel Client’s participation in the Event at any time for any reason with no liability or further obligations.
8.4. The Company will provide the information about Events and their Terms via email(s) indicated by the Client, through the Trading Platform and (or) other sources, including with the engagement of third parties and by running joint events and collaborations.
BONUSES INFORMATION
8.5. To receive Bonus the Client needs to activate it using methods and performing other conditions indicated in Event Terms.
8.6. Bonus will be credited to the Client’s Account in the amount, type and under the conditions as per the Event Terms.
8.7. Bonuses credited to the Client’s Account are not a financial obligation of the Company to the Client.
8.8. Unless the Event Terms provide otherwise, under one particular Event the Client is entitled to activate Bonus only once. Simultaneous activation of multiple Bonuses under different available Events may be subject to these Events’ Terms.
8.9. The Client may Withdraw Bonus if the Event Terms provide forth with such an option and under the conditions of these Terms.
8.10. Bonus is available for Withdrawal only if (i) the Client performed the mandatory trading turnover (see paragraph 8.9 of this Section), and (ii) by the moment the Client performed the mandatory trading turnover Bonus is still in presence at the Client’s Account. Until the moment the Client performs the mandatory trading turnover, only His/Her own funds (Free Margin minus a Bonus amount) are available for Withdrawal. By Withdrawing Client’s own funds the Bonus amount is reduced proportionally without changing initial mandatory trading turnover. In this case, the amount of Bonus shall be reduced by either the ratio of the total amount of bonus funds to the Client’s own funds or by the Withdrawal amount, whichever is greater. In case by the moment the Client performed the mandatory trading turnover Bonus had been canceled, the canceled Bonus would not be restored or available for Withdrawal. Other and (or) additional terms for Bonus Withdrawal may be provided forth by the relevant Event Terms.
8.11. The amount of profit generated by the Client using Bonuses may have limitations for the amount of Withdrawal.
8.12. The Client has the right to cancel activated Bonus by contacting the Company’s Client Support Service using the contacts specified in Section 12 of this Agreement. Canceling Bonus is available only if the Client completed no Trading Operations from the moment Bonus has been credited to the Client’s Account.
8.13. Upon the Event’s expiration, cancellation or cession, Bonus credited to the Client’s Account according to this Event Terms may be debited from the Client’s Account.
8.14. If the Client’s Account Balance becomes equal to or less than the zero, the Bonus is reset, unless otherwise provided by the Event Terms.
8.15. The Company has the right to reject Client’s Bonus crediting or cancel a Client’s Bonus at any time unilaterally without prior notification or providing reasons. If the Security Service of the Company suspects a Client of fraudulent actions in order to complete the mandatory trading turnover, the Company has the right to review and/or rescind the Client’s mandatory trading turnover results and results of Positions opened and/or closed after the Bonus had been received. Low trading activity with one high-value Position or several small Positions (in order to split high-value one), or trading hyperactivity (i.e. having high volume of Positions which were closed immediately after opening) may be constituted as grounds for reconsideration and/or rescission.
9. Client Risks
9.1. The Client fully acknowledges the following:
● the conducting of Trading Operations with financial instruments is accompanied by significant risks. Before using the Company’s services, the Client needs to analyze their financial capabilities;
● the Trading Operations they carry out through the Trading Platform are not Orders placed on an official exchange. They are over-the-counter, and therefore carry a greater risk for the Client than official exchange Trading Operations;
● any information and/or recommendations they receive on the Website from representatives or partners of the Company are not considered a direct offer to execute a Trading Operation or a financial transaction;
● they may incur financial losses as a result of malfunctions and/or failures in the operation of computer equipment, software, an unstable internet connection, power outages, or other technical factors;
● in market conditions other than normal, the processing time of their Orders may be extended, as a result of which the Client may incur losses. In addition, sharp fluctuations in Quotes may result in Client losses when an Order is executed at a Quote Price that is different from the Quote price displayed on the Trading Platform.
9.2. In some countries, use of the Company’s services may be restricted or prohibited by law. The Client assumes all risks associated with analysis of the legislation of their country, or their country of residence, for such restrictions or prohibitions, as well as responsibility for using the services of the Company in countries where they are restricted or prohibited.
9.3. The Client acknowledges that the Company does not guarantee receipt by the Client of profit in any amount or the absence of losses in the course of the Client using the services.
10. Guarantees and Liability. Force Majeure
10.1. The Company is not a credit institution, does not conduct banking activities, does not attract monetary funds from individuals for the purpose of investing them with interest over a certain time period, and does not open or maintain bank accounts.
10.2. The Companynot provide its services in the following territories or to citizens and/or residents of the following countries (territories): Algeria, Eswatini, Namibia, Angola, Ethiopia Niger, Benin, Gabon, Nigeria, Botswana, Gambia, Rwanda, Burkina Faso, Ghana, Sao Tome and Principe Burundi, Guinea, Senegal, Cabo Verde, Guinea-Bissau, Seychelles, Cameroon, Kenya Sierra Leone, Central African Republic, Lesotho, Chad, Liberia, South Africa, Comoros, Libya South Sudan, Congo, Madagascar, Sudan, Côte d’Ivoire, Malaw,i Togo, Democratic Republic of the Congo, Mali, Tunisia, Djibouti, Mauritania, Uganda, Egypt, Mauritius, United Republic of Tanzania, Equatorial Guinea, Morocco, Zambia, Eritrea, Mozambique, Zimbabwe exept in cases when it is contrary to the current legislation of those countries and/or the Company’s internal policy.
● they give Orders exclusively in their own name and in their interest;
● they are not a citizen and/or resident of a country in which the Company does not render its services.
10.4. The Client is responsible for the authenticity and validity of the documents presented by them during KYC procedure. In the event that during the verification process, the Client provides inaccurate information, falsified or invalid documents, the Company has the right to refuse to service the Client’s Account, without granting the right to Withdraw profits, as well as to withhold the Client’s monetary funds in the amount of actual damage caused to the Company through their actions. The Company has the right to refuse to re-register that Client.
10.5. Within the framework of compliance with international AML legislation, when registering on the Trading Platform, the Client ensures that the monetary funds deposited by them into the Account have not been obtained illegally and are not the result of drug trafficking, kidnapping, or other criminal or illegal activities. The Client undertakes not to use the Website for the purpose of legalizing proceeds from crime or for other illegal activities. The Company reserves the right to refuse to let the Client use their Account, to block, cancel, or close the Account, and to withhold funds in the Client’s Account if the Client does not adhere to or does not comply with the requirements and principles of AML legislation. If the Company suspects the Client of conducting illegal or unlawful activities through their Account, the Company reserves the right to disclose all information relating to the Client to the competent authorities, as well as to block and/or close the Client’s Account and/or withhold the funds in the Client’s Account. If the origin of the Client’s funds available on the Account is demonstrated to be legal, the Company will return such withheld funds unless there are any government acts prohibiting such return.
10.6. The Client undertakes to provide documents and carry out other necessary actions (at the discretion of the Company) aimed at compliance with AML international legislation.
10.7. The Client is fully aware that actions performed by them and/or by third parties with their participation that could destabilize the operation of the Website, the equipment, services, software and hardware, or the Company’s operation in general, will entail a direct refusal of the Company to service the Client’s Account, without granting the right to Withdraw profits, as well as the withholding of the Client’s monetary funds in the amount of actual damage caused to the Company through their actions. The Company has the right to refuse to re-register that Client.
10.8. The Client is personally responsible for the confidentiality of login and password used to access their Account on the Website. The Client accepts that they will be liable for all Orders given through their Account, and any such Orders received by the Company shall be considered as received from the Client. The Client is obliged to prevent any third party from accessing their Account on the Website. In the event of unauthorized access to the login and password and/or the Client’s Account, they are obliged to immediately notify the Company. The risks and losses of the Client associated with the process of restoring their access to the Account do not lead to additional obligations for the Company, apart from providing new data for the Client’s access to their Account after they complete an additional procedure to identify them as the holder of the Account. The Company is not obliged to compensate for any losses or pay any profits to the Client resulting from unauthorized access to the Client’s Account.
10.9. The Company shall not be liable for any actions or omission of the Client in the course of using its services, or for the Client’s losses resulting from the execution of Client’s Orders when using the Trading Platform.
10.10. The Company shall not be liable for failing to fulfill its obligations, including the Client’s losses, which arise as a result of hacker attacks, computer equipment malfunctions (on the part of the Сlient and/or the Сompany), or data transmission via communication channels that occurred through no fault of the Company.
10.11. The Company shall not be liable for the Client’s losses arising from force majeure circumstances. Force majeure circumstances include the following: natural disasters, man-made disasters, military actions, terrorist acts, uprisings, civil unrest, strikes, riots, the introduction of government restrictions affecting the fulfilling of this Agreement, the introduction of (or changes to) market and/or currency rules, and the suspension of exchange trading.
10.11. If during the conducting of Trading Operations on the Website, the Client makes a profit using artificial intelligence, specialized software, so-called “bots”, or vulnerabilities in stock exchange software or the Company Server, such profits are not the Company’s financial responsibility and are not paid to the Client.
10.12. In the event that the Client violates the terms of this Agreement, the Company has the right to terminate this Agreement unilaterally without prior notification of the Client. In this case, all the Client’s Open Positions will be closed by the Company, the balance of the Client’s Account may be transferred by using Client’s payment details provided during the depositing, and the Company will deduct from the Client’s Account any amount of i) actual damages suffered by the Company through any act of the Client, and ii) profits generated by the Client through violations of this Agreement. The Company may deny re-registration of this Client.
11. Complaints and dispute resolution
11.1. n the event of a dispute, the Client first should contact the Company’s Client Support Service using the contacts specified in the section 11 of this Agreement. If the Client deems the answer given by the Support Service to be unsatisfactory or the Support Service does not have the authority to resolve the question raised by the Client, the Client has the right to contact the Support Service with a request to forward the question to the Company’s Dispute Resolution Department, or to send the complaint via email to [email protected].
11.2. When submitting a complaint, the Client should indicate the following information:
● the Client’s first and last name;
● the Client’s email address;
● when (date) and which operations were involved when the dispute arose or was detected;
● a detailed description of the problem;
● attached files confirming the dispute (if any). In order for the dispute to be resolved as soon as possible, the Client should provide all the above information in full.
11.3. In the event of non-compliance of the complaint with the requirements set out in clauses
11.1 and 11.2 of this Agreement, and/or if any of the following conditions exist:
● in the complaint, the Client makes provocative statements, unfounded accusations, or threats of “denigrating” the business image of the Company;
● the received message contains threats, insults, or vocabulary of an obscene nature aimed at the Company and/or its employees; сonsideration of the Client’s complaint may be rejected. The Company recognizes such actions as unacceptable and has the right to appeal against them to the competent authorities.
11.4. When considering a Client’s complaint, the Company is always guided by their interests and is obliged to give a preliminary response within two (2) business days from the day the complaint is received, containing the following information:
● confirmation of receipt of the complaint by the Dispute Resolution Department;
● preliminary results of the audit or information that may be relevant to the subject of the complaint;
● a deadline for making a decision regarding the complaint.
11.5. Within ten (10) business days from the day following the date of the complaint, the Company provides the Client with an answer about the measures taken to resolve the dispute, as well as recommendations for further actions by the Client. If the Company needs to obtain additional information to settle the dispute, it is entitled to extend the time for consideration of the complaint, but for no more than ten (10) business days, and it is obliged to notify the Client.
11.6. Complaints about the recovery of lost profits and/or compensation for moral damage by the Company are not accepted for consideration.
11.7. A dispute is deemed to be settled if within five (5) business days from the moment a response is sent to the Client, the answer is not appealed by them.
12. Contacts
12.1. To contact the Company, the Client may email to the address: [email protected].
12.2. The Client’s contacts are their email address, indicated when registering on the Website and/or the Mobile Application.
12.3. The Company is not responsible for incorrect indication by the Client of their contact information on the Website.
13. Taxes
The Company is not a tax agent and does not provide data on the operations of its Clients to third parties. Such information can only be provided if an official request is made by a competent national authority.
14. Validity, Amendment, and Termination of this Agreement
14.1. This Agreement becomes legally binding at the time of the Client’s registration on the Website.
14.2. The obligations and rights of the Client and the Company established by this Agreement are considered a long-term act and are valid until the termination of the Agreement.
14.3. The Company has the discretion at any time to make amendments to this Agreement. If amendments are made to the Agreement, they will come into force from the moment the amended text of the Agreement is posted on the Website, unless a different term for is specified for the amendments to come into force. The Client is obliged to independently familiarize themselves with the actual version of the Agreement posted on the Website.
14.4. If the Client does not agree to the amended version of the Agreement, they should stop using the Company’s services and block their Account by contacting the Company’s Client Support Service using the contacts specified in the section 11 of this Agreement, after first making a Withdrawal of Funds from their Account.
14.5. This Agreement may be terminated as follows:
● at the initiative of any Party;
● in the case of death of the Client or recognition of their legal incapacity;
● in the case of liquidation of the Company.
14.6. Regardless of the basis for termination of the Agreement, the Company undertakes to fulfill its obligations to the Client in the manner provided for in this Agreement.
14.7. The Client has the right to terminate this Agreement at any time, regardless of their motives.
14.8. To terminate this Agreement unilaterally, the Client shall block their Account by contacting the Company’s Client Support Service using the contacts specified in the section 11 of this Agreement, after first making a Withdrawal of Funds from their Account. If the Client fails to Withdraw their Funds independently, the Company may transfer the balance of the Account by using payment details provided by the Client during the depositing.
14.9. If at the request of the Client, the Company removes the block on their Account, this Agreement resumes its effect according to the version valid at the time of the unblocking.
14.10. The Company has the right to terminate this Agreement unilaterally without providing reasons.
14.11. In the event of termination of its activities, the Company is obliged to notify the Client about this no later than one (1) calendar month prior to the termination of its activities.
14.12. In the event of termination of its activities, the Company is obliged to pay the Client the funds in their Account at the time of the termination of the Company’s activities, in full.
14.13. In case any term of this Agreement (or any part of it) shall be held by a court of competent jurisdiction to be unenforceable for any reason, then such term shall be deemed severable to that extent and not form part of this Agreement. However, the enforceability of the remainder of the Agreement shall not be affected.
15. Miscellaneous
15.1. By registering on the Website and/or the Mobile Application, the Client consents to receiving emails from the Company, including advertising messages. If the Client does not want to receive information from the Company, they may at any time cancel their subscription by clicking on the “Unsubscribe” link in any email from the Company, or by contacting the Company’s Support Service. The Company undertakes to immediately respond to the Client’s request to cancel their subscription to all types of emails (except for transactional notifications).
15.2. The Client has the right to register only one (1) Account on the Website and/or the Mobile Application. If the Company discovers several Accounts belonging to the same Client or group of persons, if such persons have the opportunity to log in from the same IP address and/or access the Website from the same device, or credited using the same credit card and/or electronic wallet, or with authorization from the same IP address or upon the detection of other signs of the possession of multiple Accounts, the Positions and their financial outcomes on all such Accounts may be rescinded, and the Accounts may be blocked. In this case, the funds held in those Accounts cannot be considered a financial liability of the Company to the Client. The Company may ask the Client to identify the main Account that the Client wishes to keep. In this event, deposited funds that the Client has added to other Accounts will be returned by using payment details provided during the registration of such Accounts without any compensation for any profits and/or losses.
15.3. The Company does not charge the Client for providing access to the Trading Platform if there is regular Trading Activity of the Client’s Account.
15.4. If there has been no Trading Activity on the Client’s Account for 90 (Ninety) consecutive days, the Client is charged a monthly subscription fee for servicing the Account in the amount of $30, but no more than the amount of the Account Balance. The subscription fee is canceled in the event that Trading Activity is resumed on the Client’s Account.
15.5. The subscription fee is deducted from the Account Balance every month until the Client resumes Trading Activity or until the Account Balance becomes zero. If the Сlient resumes Trading Activity before the end of the current month, the subscription fee for such month is not deducted.
15.6. The Client does not have the right to fully or partially transfer their rights and obligations under this Agreement to a third party.
15.7. In the case of a discrepancy between the text of this Agreement in English and the text in other languages, the version of the Agreement in English shall prevail.
15.8. This Agreement is governed by the laws of Vanuatu. Any dispute arising out of or in connection with this Agreement, including any question regarding its existence, validity, or termination, shall be submitted and finally resolved by the court in accordance with the laws of Vanuatu.
Effective September 01, 2024
Annex 1
