SECTION A – GENERAL
In this Terms and Conditions, the following terms are defined as follows:
Access Code: Login and password given from the Company to the Client for access to Online Trading Platform or Website;
Access Data: Access Codes, Client’s Account Number and other information necessary to make orders with the Company;
Account: Any transaction account through which trading in Financial Instruments can be carried out;
Application Form: The application form completed by the Client prior to entering into these Terms and Conditions.
Balance: The total amount of funds on the Account after the last transaction made within any period.
Base currency: The first currency in the Account.
Business Day: Any day, other than a Saturday or a Sunday, or December 25, or 1 January.
Client (You): You as a party to these Terms and Conditions.
CFDs: A spot and/or forward Contract for Difference on the following underlying: Currencies (Spot FOREX), Metals, Commodities, Futures, Options, Forwards, Stocks, Indices.
Company (We) : MyCryptoWallet LTD. - a company registered in Saint Vincent and the Grenadines with registration number 25560, having its official address at: Beachmont Business Centre, Suite 19, Kingstown, SVG.
Contract Specifications: All trading information with regard to spreads, swaps, margin requirements etc. (including lot size or type of Underlying in a Financial Instrument).
Currency Pair: Pair of two currencies (the Quote Currency and the Base Currency) showing what amount of the Quote currency required for purchasing one unit of the Base Currency.
Financial Instrument(s): Are such as CFDs, NDFs, and Rolling Spot (as defined below).
Leverage: A ratio in respect to Transaction size and initial margin.
Margin: Required funds for opening the positions or for maintaining open positions, as set out in the Contract Specifications for each Underlying in a Financial Instrument.
NDFs: Non-Deliverable Forwards and has the same meaning as CFDs.
Online Trading System: software used by the Company which enables the Client to obtain information of markets in real time and/or under off-exchange conditions, make respective analysis, carry out Transactions, place/alter/cancel Orders, receive notices from us and keep record of Transactions carried out.
Open Position: A deal of purchase/sale not covered by the opposite sale/ purchase of the contract.
Order: An instruction in Financial Instruments available for Transactions on Online Trading Platform.
Parties: The parties to this Terms and Conditions – The Company and the Client.
Pending order: Order to buy or sell a Financial Instrument at the price different from the market price.
Quote: The information of the currency price for a specific Underlying of a Financial Instrument, in the form of the bid and ask prices.
Quote Currency: The second currency in the currency pair.
Rolling Spot: Same meaning as CFDs.
Services: Services provided by the Company to the Client under these Terms and Conditions.
Slippage: The difference between the expected price and the price at which the trade is actually executed.
Spread: The gap between the ask and the bid prices of a security or asset at that same moment.
Standard Lot: 100,000 (one hundred thousands) of base currency($/€/£).
Stop Loss: means an offer to close a transaction at a price determined in advance by the Client which, in the case of a transaction that is opened by offering to buy a specific number of a certain instrument, is lower than the opening transaction price, and in the case of a transaction that is opened by offering to sell a specific number of a certain instrument, is higher than the opening transaction price.
Stop Out: Situation when the Company closes all open positions at current market price or the last available price and the Client’s equity divided by balance falls below the stop out level specified for Client’s account type.
Swap or Rollover: The interest added or deducted for holding a position open overnight.
Swap Rates: The rate of the fixed portion of a swap, at which the swap will occur for one of the Parties entering into a Financial Instrument.
Take Profit: An offer to close a transaction at a price determined in advance by the Client which, in the case of a transaction that is opened by offering to buy a specific number of a certain instrument, is higher than the opening transaction price, and in the case of a transaction that is opened by offering to sell a specific number of a certain instrument, is lower than the opening transaction price.
Trade Confirmation: A message from the Company to the Client confirming the transmission for execution of Client’s Order.
Transaction: Any dealing in a Financial Instrument.
Underlying: Forward and/or futures contracts on Currencies (Spot FOREX), Metal, Commodities, Futures, Options, Forwards, Stocks, Indices.
Website: www.mycoinbanking.com or any other Website of the Company’s trade names, as the Company may from time to time notify to you.
Parties to these Terms and Conditions are MyCryptoWallet Ltd who is the holder of the trade name MyCoinBanking (hereinafter “the Company” or “We” or “Us”) and the end users/persons who have completed the Application Form and whose application we have accepted.
SECTION B – SERVICES
1. ENTERING INTO FORCE
1.1. This Terms and Conditions enter into force upon confirmation that Account has been opened and we accepted you as a client. By placing Orders with the Company, the Client declares to be bound by this Terms and Conditions.
1.2. The Company may be unable to accept You as a Client until all Know-Your-Client and Anti-Money-Laundering documentation required has been received completely and You satisfy the KYC and AML requirements to open an Account for You.
1.3. Citizens/residents from certain countries are prohibited to use the Services. US citizens or US residents are strictly not accepted as clients due to US Securities and Exchange Commission (“SEC”) regulations.
2.1. Upon opening of the Account, the Company will render the following services (hereinafter “Services”) to the Client:
(a) Receive and transmit orders for you regarding respective Financial Instruments;
(b) Provide foreign currency services provided they are associated with the provision of the investment Service;
(c) Provision of safekeeping and administration of the Financial Instruments for the Account of Clients;
(d) General recommendations regarding transactions in Financial Instruments.
2.2. Then Client hereby acknowledges and accepts that Services do not include investment advice. It is also acknowledged and accepted that investment information announced by the Company does at no time constitute an investment advice; accordingly, it can at no time be considered as such by the Client. Furthermore, the Client hereby acknowledges and accepts that the Company bears no responsibility for any information given to Client or investment and/or transaction made by the latter.
2.3. The Client hereby declares that it provides the Company with accurate information about its knowledge and experience in the financial markets and investment fields. Accordingly, the Company relies on the information provided by the Client.
The Client hereby agrees, understands and accepts:
3.1 That it have carefully read and fully understood these Terms and Conditions;
3.2. That it is not entitled to deliver the Underlying or ownership of the financial Instrument or any interest therein.
3.3. That no interest will accrue on funds placed in its Account;
3.4. That the Company acts as an agent while affecting any Transactions with the Client. The Company will be transmitting the Clients Orders to other broker (s). The Client acknowledges hereby that these brokers may operate in unregulated markets as well. The Company has no influence on prices for the Financial Instruments the Client trades on Online Trading Platform.
3.5. That CFDs trading and/or Forex trading and/or trading with other financial instruments are not done in a regulated market.
3.6. That the Client have read, understood found satisfactory and accept as an integral part of this Terms and Conditions the following information provided on our Website:
a) Risk Disclosure, and
b) Trading Conditions
3.7. The Client gives its consent to be provided with information regarding Terms and Conditions, investments, Financial Instruments and others.
3.8. The Company may amend these Terms and Conditions via updating the Terms and Conditions on the Website.
3.9. The Client’s Account serves only to the trading purposes. The Company keep deposits only to maintain margins supporting the trading account and trading activities.
3.10 Abusive trading strategies and fraudulent activities are strictly prohibited and can lead to retroactive cancellation of Client’s all transactions and debiting of all generated profits.
4. RISK WARNING
4.1. The Client hereby declares that it has read and completely understood the Risk warning given by the Company published on the Website.
5.1. The Company and/or the Company’s employees and/or directors and/or owners, shall not be liable for any consequential, indirect, incidental or any loss (including loss of profits and trading losses) that result from Client’s use of the Services.
5.2. The Company is not liable for any losses, damages or claims that result directly or indirectly from any person obtaining any Access Data that the Company has issued to you prior to you reporting to us the misuse of your Access Data.
5.3. The Company is not liable for any losses, damages or claims, which result directly or indirectly from any information the Client relies on, regardless of its origin.
5.4. The Company is not liable for any losses, damages or claims, which result directly or indirectly from a delay in transmitting of any Order.
5.5. The Company is not liable for any losses, damages or claims which result directly or indirectly if it fails to receive any documents sent in respect of the Client’s Account or any funds held on Client’s behalf, or if the Client fails to receive any such documentation which the Company may forward to Client.
5.6. The Client agrees to indemnify the Company against any loss, liability, cost, claim, action, demand or expense incurred or made against the Company in connection with the improper performance of your obligations under these Terms and Conditions.
SECTION C - FUNDS
1. CLIENT’S FUNDS
1.1. The Company is entitled to hold the Client’s funds and funds of other clients in the same clients’ bank account (omnibus account). In this case, Client’s funds will be identified through Company’s back office and accounting system.
1.2. The Company may receive or transfer the Client’s funds to affiliated companies or third parties (e.g. bank, intermediate broker etc.) with the purpose to carry out the transaction or ensure that Client’s obligation to provide Collateral is fulfilled. The Company does not bear any responsibility regarding the funds transferred to any third parties. The Client hereby acknowledges and accepts that in case of insolvency or otherwise inability of third parties to satisfy Client’s claims the Company will have only unsecured claims on behalf of the Client against these third parties. The Company is furthermore at no time responsible for the funds not deposited directly in Company’s banks accounts.
1.3. No interest will accrue on the Client’s funds deposited in the Company’s accounts. The Company is allowed to deposit the Client’s funds in overnight deposits and keep the interest accrued.
1.4. The Company may hold the funds of the Client in any jurisdiction at its sole discretion. Funds may be deposited with an entity, which may have claims regarding these funds.
1.5. The Company is hereby authorized to make any deposits and withdrawals from the Account on Client’s behalf including withdrawals for the settlement of any and all transactions. The Company is hereby authorized to set-off Client’s funds against the Client’s obligations to the Company or its representatives.
1.6. The Client can fund its Account by means of money transfer acceptable by the Company.
1.7. The Client shall deposit a minimum initial amount indicated on the Website in order to commence with trading unless otherwise decided by the Company at its sole discretion.
1.8. The Client may withdraw deposited funds subject to Company’s approval according to latter’s refund policy indicated on the Website. Withdrawal of the funds deposited and/or profit gained through trading transactions is only possible to the account or card from which the Account has been credited. Minimum amount of withdrawal is 50 (FIFTY) USD unless otherwise decided by the Company in its sole discretion. The Company may charge any withdrawal with a fee in amount of 30 (THIRTY) USD.
1.9. The withdrawn funds will be transferred to respective account of the Client if the identity of the Client is completely verified.
1.10. In case of a chargeback, the Company may close/cancel the Account with immediate effect.
1.11. The Company may reward/promote the Client if the Client completes respective targets.
2.1. Currency conversions will be done at reasonable exchange rates.
2.2. The Company hereby reserves the right to unanimously adjust the amount of funding required and interest rates offered at any times in its sole discretion
2.3. In case of transactions involving CFD’s the Client may be obliged to make additional payments if the completion of the transaction fails or upon the settlement of it or closing out of Client’s position. The Client may be required to make additional payments via margin against the price of the Financial Instrument, instead of paying (or receiving) the whole purchase (or sale) price immediately. The market price of investment affects the amount of required margin payment.
2.4. The Client will make additional payments to the Company for the purpose of protecting the Company against any loss, damage or risk related to transactions. The Parties agree hereby that margin will be paid in cash. Margin will be paid as outright transfer of funds. The Client has no interest in the transferred funds.
2.5. The Company is hereby authorized to close and to cancel open positions of the Client, to decline the establishment of new positions and to determine the volume of open positions in its sole discretion considering trading conditions or inacceptable trading strategies of the Client. The Parties hereby acknowledge that Stop Out levels are at 25%. The Company is authorized to close open positions below Stop Out level with immediate effect. Furthermore, the Parties acknowledge that for those transactions conducted by way of MT4/MT5 online trading platforms, the Company is authorized to exercise margin calls when the margin level is below 50%. In case margin level falls below 20% open positions will be closed with immediate effect. The Company is furthermore authorized to close any open deals due to inactivity period of 90 (NINETY) days. Hedging positions may be charged with an administration fee of 0.1% of the complete volume in US-Dollars per day and the Company may close any hedged positions after 21 (TWENTY ONE) in its sole discretion. Company will be authorized to retain those funds required to cover adverse positions, initial margin, variation margin, any uncleared funds, realized losses and other funds payable to the Company by the Client under these Terms and Conditions.
2.6. The Parties acknowledge hereby that the Company acquires lien on all funds held on behalf of Client until the obligations of Client are completely fulfilled.
SECTION D – ONLINE TRADING
1. ONLINE TRADING PLATFORM
1.1. The Client shall use Access Codes given by the Company in order to gain access to Online Trading System and conduct orders and transactions.
1.2. The Company may close the access to online trading platform fully or partially if it has the reasonable doubt that the Client allows unauthorized access to it. The Client hereby solemnly declares that it will not conduct any action or omission with the purpose to affect the integrity of Company’s The Parties acknowledge hereby that the Company is not responsible for any damages or losses resulting from events beyond its reasonable control.
1.3. The Client is at no times allowed to publish, transmit, or otherwise reproduce information published on the Website, unless explicit consent given by the Company. The Client is furthermore at no times allowed to alter, remove any copyright, trademark or any other notices that are provided in connection with the information. The Client represents and warrants that it will use the Website and/or Online Trading System solely and exclusively for the benefit of its Account and it will not allow other person to use the Account. Furthermore, the Client represents and warrants that the Access will at no times be disclosed to other persons, unless duly authorized under the respective provisions of these Terms and Conditions. The Client shall immediately notify the Company if it suspects or knows that unauthorized persons have gained access to Account. In this case, the Company will take respective measures and provide the Client with alternate Access Data.
1.4. The Client is at all times responsible for any and all orders given through its Access Data including in the cases when authorized persons are acting on Client’s behalf.
1.5. The Company may provide the Client with third party authentication possibilities (via social media). Third party authentication is sole responsibility of the Client. The Company reserves the right not to verify information provided by the Client.
2.1. The Orders may be placed via Online Trading System or via phone as set out herein.
2.2. The Client and persons duly authorized under these Terms and Conditions may place orders through Online Trading System or via phone pursuant to the respective provisions set out hereforth.
2.3. The Client may place orders through Online Trading System. The Client may furthermore, cancel existing positions and delete/modify pending orders using its name, username or user ID. The Company may decline the orders of the Client at its sole discretion. Any order received by the Company from the Client other than through the Online Trading System will be ultimately transmitted to Online Trading System. The Company does not check the accuracy of any Order. The Client may not revoke the Order.
2.4. The Parties acknowledge that any and all trades will be deemed as buy or sell.
2.5. In case the Client places an Order, which can lead to the violation of these Terms and Conditions, the Company may accept such Order fully or partially. The Client will be solely liable for the violation of these Terms and Conditions.
2.6. The Online Trading System enables the Client the solely following orders:
- OPEN – enables the opening of a position as market order or limit order;
- CLOSE – enables closing of an open position as market order or limit order;
- Adding , removal, editing of orders for Stop Loss, Take Profit, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Buy Stop Limit, Sell Stop Limits;
2.7. Limit orders are usually made at the requested price. In case the requested price is not available on the market, then the order will be placed as a market order; the same rule applies in case of requested price for a Take Profit or Stop Loss made at the opening of the trading session.
2.8. The Parties hereby acknowledge that at the closing of the respective business day all open spot positions will be rolled over to the next business day. The Company retains the right to close the open spot position.
2.9. The Clients may at Company’s sole discretion be allowed to specify closing price for Take Profit and Stop Loss. In case the Company will accept the respective Orders then the Company may close the order. In case the position is confirmed, then it cannot be canceled or changed by the Client. In case the price has reached the relevant level, then the Client is not allowed to cancel or change Take Profit, Stop Loss and Limit Orders. Orders can be transmitted for execution, cancelled or changed only within the trading period. In case the Orders are not executed within this time then they will roll over to the next session. In case the validity term of the Order is not specified, then it is valid for indefinite period. The following orders: Take Profit, Stop Loss, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Buy Stop Limit, Sell Stop Limit will be transmitted for execution at the price, which is declared by the Client on the first market price touch. In case any technical deficiency of the Trading System occurs, then the Company may not transmit the respective Order or may change the transaction price in its sole discretion.
2.10. The Parties hereby acknowledge that in case of certain trading conditions the Orders may not be transmitted at the declared price. In this case the Orders may be transmitted at a first market price. Please, refer to our Risk Disclosure Policy and website for further details about Slippage. Furthermore, the Parties acknowledge that the Company can also determine respective time limits/time frames for Orders in its sole discretion (cutoff times).
2.11. The Parties hereby acknowledge and accept that the Company may in its sole discretion at any time change the respective specifications (leverage, spreads, etc.) and Swap Rates and accordingly credit the Account. The spreads are based on the market rates provided from respective platforms and brokers.
2.12. The Parties acknowledge hereby that the Company acts as an agent of the Client while receiving and transmitting the latter’s Orders and the Company’s revenue derives as fixed share of the spread. In case the commission charged by the Company is reduced due to market conditions, then Company’s liquidity providers may not execute the respective transaction.
2.13. The Company acts in accordance with its orders execution policy when receiving and transmitting the Orders. The Company hereby declares that the respective characteristics of the Client, Order and the Financial Instruments will be taken into consideration at all times when receiving and transmitting the Orders.
2.14. The Parties hereby acknowledge and accept that the Company may at any time in its sole discretion refuse to transmit an Order for execution. In this case, the Client cannot claim any damages or losses or any kind of indemnification from the Company.
3. CONFIRMATION OF ORDERS
3.1 The confirmation of instructions and Orders sent through the Online Trading System is the sole discretion of the Company.
3.2. The Client provides the Company with its email-address for the purpose of communication. Any notices/communication will be sent to the Client to the indicated email-address or via Online Trading System. The Client shall notify the Company of the change of email address without undue delay. In respect of each executed Order the Client will receive a respective confirmation. The mentioned confirmation shall be deemed as final and conclusive unless notified of the contrary within 48 hours from the receipt of such confirmation.
3.3. The Client has the access to the statement of Account on its Account. Any statement (confirmation, proof) issued by the Company is final and conclusive, unless the Client files a written objection within 5 (FIVE) business days from the issuance of such statement with the Company. The Company may provide the Client with the reports on the balance of the Account. Such reports will be provided to Client within 5 (FIVE) business days from the request of the Client and will be charged with respective fees.
3.4. The Client will be provided with an online access to its Account via the Online Trading System.
3.5. The Company may charge the Client with the fixed amount of 100 USD (or less) for Account maintenance once in three months.
4. CLIENT’S REPRESENTATIONS AND WARRANTIES
4.1. At all times during the validity of these Terms and Conditions the Client represents and warrants that:
- The Client conducts any transaction under these Terms and Conditions as principal, unless duly shown credibly that it acts as an agent of third party;
- The Client conducts any transaction under these Terms and Conditions in compliance with these Terms and Conditions and applicable laws and regulations;
- The Client is duly authorized to conduct any transaction under these Terms and Conditions;
- Any and all information disclosed in the application form and any and all documentation provided to the Company is completely true and accurate;
- Any and all documents provided by the Client to the Company are valid and authentic;
- The funds of the Client doesn’t directly or indirectly derive from illegal activity or is used or intended to be used for illegal activities;
- The Client is at least 18 years old and otherwise there is no legal impediment prohibiting the Client to be bound by these Terms and Conditions;
5. AUTHORIZATION OF THIRD PARTIES
5.1. The Client may authorize a third party to conduct transactions under these Terms and Conditions.
5.2. In order such third party to be duly authorized the Client shall provide the Company with respective written notification and the third party shall be additionally approved by the company. In case of such approval, the third party will remain authorized unless the authorization is retrieved by the Client in writing or repealed by the Company. The written notification of such retrieval has to be received by the Company with at least 5 days’ notice prior to the termination date.
SECTION E – MISCELANEOUS
1. CLIENT’S RECORDS
1.1. The Company may disclose the information regarding the Client and the transactions conducted by the Client as required by the applicable law.
1.2. The Company may keep Client records for at least 1 year after termination of these Terms and Conditions.
2. PAYMENTS TO AND FROM THIRD PARTIES
2.1. The Parties hereby acknowledge and accept that the Company may pay and/or receive fees from third parties (referring agents, business introducers) if the purpose of these payments is the enhancing of the Service rendered under these Terms and Conditions.
2.2. The Company has the obligation to disclose further details regarding inducements upon the Clients request.
3. ENQUIRIES AND COMPLAINTS
3.1. The Client may send the enquiries to the Company through the Contact Us section existing on the Website or via an email. Inquiries will be handled within 72 hours by Customer Support Department.
3.2. The Client may submit the complaints (in English) to the Company within 7 days of occurring via the means indicated in sub-clause 2.1. of this section (if submitted after 7 days, then the complaint may not be considered) and by indicating the following information:
- Full name of the Client;
- Client’s username;
- email and telephone number;
- Complaint including case/transaction number and evidence.
3.3. The Client shall send its complaints from the email address known to Company. The Company will respond usually within 5 (FIVE) working days, unless the case requires additional time to response (in this case usually within 4 weeks period).
3.4. The Client is obliged to periodically review its account statements and report any and all detected errors within the period of 48 hours after the issuance of the respective statement.
3.5. The Parties hereby acknowledge and accept that the complaints may not be made regarding the subjects below:
- Rejection, deletion or reversion of any Order pursuant to the provision set out herein;
- Issues related to unavailability of trading platform services due to maintenance works conducted;
- Issues related to those transactions made with funds generated as profit from transactions that were cancelled by the Company;
- Issues related to account or trading management caused by miscommunication between the parties;
- Issues related to differences in prices of the financial instruments provided by the Company;
- Issues related to technical deficiencies of Trading Platforms.
3.6. The parties hereby acknowledge and accept that the records of the Client’s Trading Account (including the log files) shall be considered as ultimate piece of evidence in respect of any dispute arising out of the Client’s complaint. In case there is no relevant information on the server log-file, then the complaint may not be considered at Company’s sole discretion. During the time the complaint is being reviewed the Company may refuse the execution of the changes to the Orders initiated by the Client.
3.7. In case, the Parties agree to settle the complaint/case, the Client agrees in writing to waive any claims (past or present) against the Company and to withdraw any negative postings/statements regarding the Company. In case, the Client refuses to sign the respective settlement agreement, then the Company reserves the right to refuse any inducements in favor of the Client.
3.8. The Company may decide to satisfy the Complaint of the Client or not to satisfy it. The decision of the Company is final and conclusive and is not subject to any appeal.
SECTION F – CLOSING PROVISIONS
1.1. The Parties agree hereby that the communication language in all matters shall be solely English. Any and all notices, statements and otherwise shall be sent to the email addresses indicated by the Parties. Notices sent to the Client shall be sent at the email address, which is registered on Client’s Account, or given through the Online Trading System. The Client shall provide accurate and up to date contact information.
1.2. The Company may record and monitor any and all communication between the Parties. The recorded communication between the Parties may be used as evidence in case of any dispute.
2.1. The revenue of the Company presents a fixed share of the spread regardless of the Client winning or losing deals from the counterparty through which the respective transactions are executed. The amount of the fee is contingent to the frequency/volume of transactions executed and/or other parameters.
2.2. The Client will pay all fees and charges on time.
2.3. The Company may change the fee structure periodically by publishing them on the Website.
2.4. The Client bears all expenses relating to execution of these Terms and Conditions and carrying out of the transactions under these Terms and Conditions.
2.5. The Client is solely responsible for all taxation related matters arising out or in connection with the transactions carried out under these Terms and Conditions.
- The processing of Personal Information shall take place in a lawful, fair and transparent way;
- The collecting of Personal Information shall only be performed for specified, explicit and legitimate purposes and not further processed in a manner that is incompatible with those purposes;
- The collecting of Personal Information shall be adequate, relevant and limited to what is necessary in relation to the purpose for which they are processed;
- The Personal Information shall be accurate and where necessary, kept up to date;
- Every reasonable step shall be taken to ensure that Personal Information that are inaccurate having regard to the purposes for which they are processed, are erased or rectified without delay;
- Personal Information shall be kept in a form which permits identification of the data subject for no longer than it is necessary for the purpose for which the Personal Information are processed;
- All Personal Information shall be kept confidential and stored in a manner that ensures appropriate security;
- Personal Information shall not be shared with third parties except when necessary in order for them to provide services upon agreement;
- Data subjects shall have the right to request access to and rectification or erasure of Personal Information, or restriction of processing, or to object to processing as well as the right of data portability.
- Your name;
- Your address;
- Your email address; and/or
- Your phone number;
- details of the entity which referred You to our Website;
- any further KYC (Know Your Client) documents that are necessary to provide You with Our Services.
Your Personal Information will always and at any time be processed strictly in compliance with the GDPR. You have all the rights granted to You by GDPR.
A cookie is a small piece of data (text file) that a website, when visited by a user, asks your browser to store on your device in order to remember information about you, such as your language preference or login information. Those cookies are set by us and called first party cookies. We also use third party cookies, which are cookies from a domain different than the domain of the website you are visiting, for our advertising and marketing efforts.
4. FORCE MAJEURE
4.1 The Company will not be liable or have any responsibility for any type of loss or damage arising out of any failure, interruption, or delay in performing of obligations under this Terms and Conditions where such failure, interruption or delay is due to:
- Act of God (such as, but not limited to, fires, explosions, earthquakes, drought, tidal waves and floods);
- War, hostilities (whether war be declared or not), invasion, act of foreign enemies, mobilization, requisition, or embargo;
- Rebellion, revolution, insurrection, or military or usurped power, or civil war;
- Any moratorium regarding the financial services imposed by the competent authority;
- Any event not reasonably under the control of the Company.
4.2. In the event of force majeure, the Party affected shall notify the other Party of such events within 3 business days. In the events of force majeure the Company suspends and closes Client’s positions.
5. TERM AND TERMINATION
5.1. This Terms and Conditions are valid until terminated pursuant to the provisions set forth hereafter.
5.2. The Company may terminate these Terms and Conditions with immediate effect
in case the Client:
- Is in breach of these Terms and Conditions;
- If the Client doesn’t satisfy the requirements for carrying out the transactions under these Terms and Conditions;
- If the Client fails to satisfy the requirements regarding the transfer of an open investment position;
- If the termination is required by law;
- If there is a reasonable doubt that material adverse change in financial condition of the Client has occurred that can prevent the Client from performing its obligations under these Terms and Conditions;
- If the respective insolvency procedures have been commenced against the Client;
- If the representations and warranties of the Client are or become inaccurate or untrue;
- If the Client violates the requirements of the law regarding the transactions under these Terms and Conditions;
- If the Client performs any unauthorized or illegal activities on the Online Trading Platform. In this case all transactions may be cancelled; The same applies to scalping (the opening and closing of a position within seconds. We have a one-minute minimum time interval between opening and closing trades).
- If the Client is or becomes classified as a Politically Exposed Person (PEP);
- If the Client fails to provide any required information and documentation related to Know-Your-Client and Anti-Money-Laundering regulations;
5.3. These Terms and Conditions may be terminated by either Party at any time by sending a written notice.
5.4. Termination of these Terms and Conditions means the closing of the Account.
5.5. Your termination of this Agreement will not affect any obligation or liability that you may then have to us, including any liability or short position you may have arising from or in connection with transactions initiated prior to the termination.
5.6. In case any of the events described in sub-clause 5.2. of this section occurs then the Company may at its sole discretion:
- Terminate these Terms and Conditions;
- Cancel, freeze, and block any open investment positions of the Client;
- Set off the claims against the Client against the funds on the Account;
- Cancel, invalidate retroactively any transactions and debit all generated profits;
- Close the Account.
6.1. The Company may at any time during the Term of these Terms and Conditions assign its rights and obligations to a third party. In this case, respective notification shall be sent to the Client.
6.2. The Company acts as an agent and enables the Client to enter into contractual relationship with the Debit Card issuer. The Company shall at no time be considered as Party in the relationship of the Client and the Debit Card issuer.
6.3. The Parties hereby acknowledge and accept that the Company does not warrant the accuracy of the investment information given to the Client. Facts, opinions and any further findings or omissions thereof do not represent the views of the Company and the Company cannot be held liable for any losses, damages or claims which result directly or indirectly from any third party research which then Client relies on in making an investment decision.
7. GOVERNING LAW AND JURISDICTION
7.1. Any and all disputes arising out of or in connection with these Terms and Conditions shall be settled in an arbitration court in the Saint Vincent and the Grenadines.
7.2. These Terms and Conditions and all relations between the Parties arising out of these Terms and Conditions or in connection with them are governed by the international commercial law and/or industry practice.