Terms and Conditions
1. Terms and Definitions
“Agreement” – means the present Terms and Conditions including any Annexes and/or Appendices attached herein as this may, from time to time, be amended or replaced by the Company.
“AML” - means Anti-Money Laundering.
“Client” – means a natural or legal person, accepted by the Company as its Client to whom the Services will be provided by the Company under this Agreement.
“Account” – a special account provided to the Client in which funds are transferred by the Client to make Short term Contract transactions and from which the Transaction Amount is debited when the transaction is executed; and to which profits, if any, are credited when a transaction is closed.
“Website” – https://turboxbt.com
“Deposit” - funds deposited by the Client to his/her Account.
“KYC” – means “know you customer” procedure specified in p. 4.2.16 below.
“Price” – the current Short term Contract price, based on an indicative price of an Underlying Instrument, displayed on the Platform.
“Price Feed” – a succession of prices displayed on the Platform.
“Services” – services provided by the Company to the Client through the Platform, including without limitation to transactions in Short term Contracts, analytics, news and marketing information services.
“Short term Contract” – a synthetic derivative contract, consisting of two transactions: transaction execution and expiration, as a result of the fulfilment of which the Client either receives income or loses the Transaction Amount. The Company does not, however, provide a Client with the ability to assume obligations greater than the Transaction amount (the Company does not provide leverage to the Client).
“Transaction Amount” – the amount of funds that is being used to execute a transaction. This amount will be used for payout calculation in case of a successful transaction, and it will be deducted from Client’s Account in case the transaction is not successful.
“Expiration Time” – the time when the condition for payout of income on the Short term Contract is checked. The Company has the right to change Expiration Time for every Short term Contract without prior notice.
“Short term Contract transaction” – an agreement between the Client and the Company under which the Client pays the agreed Transaction Amount and the Company agrees to pay a fixed payout if the transaction is profitable.
“Platform” – is a software accessible from https://turboxbt.com/ through which the Client can obtain real-time information about prices to carry out transactions in Short-Term Contracts, receive messages from the Company. Entry to the Clients Account within the Platform is protected by a password that the Client sets at registration on the Company's site.
“Underlying Instrument” – instrument on which the Short term Contract is based upon.
2.1. This Agreement defines the terms and conditions under which TURBO TICKS TECHNOLOGY LIMITED (hereinafter, “Company”) provides the Services and the Platform to its users (Clients).
2.2. The Company is incorporated under the laws of Saint Vincent and the Grenadines, having its registered office at House Of Francis, Room 303, Ile Du Port, Mahe, Seychelles.The Company is authorized as an International Business Company under the International Business Companies (Amendment and Consolidation) Act, Chapter 149 of the Revised Laws of Saint Vincent and Grenadines, 2009 (herein the “Law”).
2.3. The objects of the Company are all subject matters not forbidden by International Business Companies (Amendment and Consolidation) Act, Chapter 149 of the Revised Laws of Saint Vincent and the Grenadines, 2009, in particular but not exclusively all commercial, financial, lending, borrowing, trading, service activities and the participation in other enterprises as well as to provide brokerage, training and managed account services in currencies, commodities, indexes, CFDs and leveraged financial instruments.
2.4. The Client represents and warrants his/her understanding that laws regarding the Platform and its services/products (including the Services) vary throughout the world and it is the Client’s obligation alone to ensure compliance with any law, regulation or directive relevant to Client’s country of domicile.
2.5. Ability to access the Platform does not necessarily mean that the Company’s Services and Client’s activities through it are legal under the laws, regulations or directives relevant to the Client’s country of domicile.
2.6. Subject to the provisions of this Agreement, the Company DOES NOT provide the Services to residents of the United States of America, Japan, Saint-Vincent and the Grenadines, Canada, Algeria, Ecuador, Iran, Syria, North Korea, Sudan, Unites States outlying islands, American Samoa, Russian Federation and other countries where the Company’s activity shall be licensed, accredited or regulated by other ways.
2.7. The Platform and the Services are not governed by any regulatory framework, therefore the Client will not benefit from the protections available to any users/clients receiving regulated investment or financial services. THE CLIENT HAS NO OBJECTIONS TO ANY OF THESE TERMS AND CONDITIONS, OR ANY PART THEREOF, AND/OR IF THE CLIENT DOES NOT AGREE TO BE BOUND BY THESE TERMS AND CONDITIONS, OR ANY PART THEREOF, THE CLIENT SHOULD NOT ACCESS AND/OR USE THE SERVICES AND THE PLATFORM IN ANY WAY AND INFORM THE COMPANY IN WRITING IMMEDIATELY.
2.8. Any Client may open only a single Account on the Website and should conduct any transactions on the Platform using that Account. Any duplicate Accounts or additional Accounts opened using false information and declaration by any Client may be cancelled by the Company at any time.
2.8. The terms of this Agreement shall be considered accepted unconditionally by the Client once he/she enters the Platform accessible from the Website through mobile application, API or through any other available access point. As soon as the Client enters the Platform, every operation made by the Client using the Platform and/or the Services shall be subject to the terms of this Agreement and other documentation/information on the Website.
2.9. The Client must carefully review the terms of the Agreement. By accepting the terms of this Agreement, the Client agrees to all of the terms/conditions hereof and confirms that he/she is an adult who is a legally capable person and is not a resident of a country where transactions using the Services may be deemed illegal.
2.10. The Client also represents and warrants to the Company that all of the information provided during Client’s registration and during the performance of Agreement, is true, accurate, reliable and complete in all respects, and the Client completed the registration form him/herself.
2.11. The Client will carry out transactions using the Services personally, on his/her own behalf and at his/her own expense and will not use funds borrowed from other Company’s Clients or from third parties to carry out transactions. The Client will be guided by the principles of integrity, honesty, and rationality; the Client will not take actions coordinated with other Company’s Clients aimed at damaging the Company; the Client will not use software errors, defects, and vulnerabilities he/she discovers in the Platform to extract income and will not distribute the information about vulnerabilities to the third parties. The Client will not use unfair and dishonest methods or ways of executing transactions with the Company.
2.12. The Company reserves the right to alter, amend or modify this Agreement from time to time, at the Company’s sole discretion. The Company warns that in some or in all cases it will not notify the Client personally via email about the changes made in this Agreement, therefore it is the responsibility of the Client to check the Website from time to time to make sure he/she complies with the current version of the Agreement.
2.13. This Agreement will be binding on all persons (natural or legal) who are the Clients and use the Platform in any jurisdiction across the world where it is legally available for access. The Client is fully aware that use of the Platform including but not limited to the Website and the Services means that the Client can expose himself/herself to jurisdiction of multiple countries through which the Services of the Website are provided.
2.14. This Agreement may be available in multiple languages but in case of any discrepancy, only the English version shall prevail.
3. Subject of the Agreement
3.1. The Company shall carry out all transactions as provided in this Agreement on an execution-only basis, neither managing the account nor advising the Client. The Clients should obtain their own financial, legal, taxation and other professional advices. The Company is entitled to execute transactions in Short term Contracts requested by the Client as provided in this Agreement even if the transaction is not beneficial for the Client. Unless otherwise specifically agreed, the Company is not obligated to make an attempt to execute the Client’s transaction order using prices more favorable than those offered through the Platform.
3.2. While making transactions in Short term Contracts Clients are not entitled to take delivery and are not entitled to ownership of any Underlying Instrument. Short term Contracts are not traded on a regulated exchange and are not cleared on a central clearinghouse. Exchange and clearinghouse rules and protections do not apply.
3.3. Subject to the provisions of this Agreement, the Company does accept and is able to provide the Services only to the Clients which meet the following requirements (all of them):
(a) he/she/it is of an age of majority (at least 18 years of age), meets all other eligibility criteria and is fully able and legally competent to use or operate this Website, enter into any agreement with the Company and in doing so will not violate any other agreement to which he/she/it is a party;
(b)he/she/it has necessary and relevant experience and knowledge to deal with Short term Contract trading, trading with cryptocurrencies/Blockchain-based systems and entering into short-term settled contracts, as well as full understanding of their framework, and is aware of all the merits, risks and any restrictions associated with Short term Contract trading, trading with cryptocurrencies/Blockchain-based systems and entering into short-term settled contracts, as well as knows how to manage them, and is solely responsible for any evaluations based on such knowledge;
(c) he/she/it is not a foreign or domestic PEP (politically exposed person);
(d) he/she/it will not be using this Website or the Services for any illegal activity, including but not limited to money laundering and the financing of terrorism;
(e) he/she/it is not residing in any country where transactions in Short term Contracts offered by the Company would be contrary to local laws or regulations. It is the Client’s responsibility to ascertain the terms of and comply with any local laws or regulations to which they are subject;
(f) he/she/it is not a resident of the restricted jurisdictions specified in p. 2.6 above.
3.4. The Company will offer the Services to the Client at the absolute discretion of the Company subject to the provisions of this Agreement.
3.5. The Company shall not be financially liable for any transactions conducted by the Client through the Platform.
3.6. Each Client shall be the only authorized user of the Company’s Services and of the corresponding Account. The Client is granted an exclusive and non-assignable right to the use of and to access of the Account and it is his/her responsibility to ensure that no other third party, including, without limitation, any members of his/her immediate family, shall gain access to and/or trade through the Account assigned to him/her.
3.7. The Client shall be liable for all transaction orders given through the Platform and any orders received in this manner by the Company shall be considered to have been given by the Client. So long as any transaction order are submitted through the Account of the Client, the Company shall reasonably assume that such orders are submitted by the Client and the Company shall not be under any obligation to investigate further into the matter. The Company shall not be liable to and/or does not maintain any legal relations with, any third party other than the Client.
3.8. Use and access of the Platform is provided at the Company’s sole discretion and the Company has the right to terminate or regulate in any manner the right to use the Platform for any Client at any time without prior notice.
4. Rights, Obligations and Guarantees of the Parties
4.1. The Client shall be entitled to:
4.1.1. Submit with the Company any transaction order requesting the execution of a transaction on the Platform in accordance with and subject to the terms and conditions of this Agreement;
4.1.2. Request withdrawal of any amounts funds outstanding on the Client’s Account not exceeding the daily withdrawal limits, provided that the Company has no claims against the Client and/or the Client does not have any outstanding debts to the Company;
4.1.3. In the event that the Client has any alleged complaint against the Company and/or there is any dispute between the Client and the Company, then the Client can submit his/her complaint, to include all relevant particulars and details, to the Company at [email protected] The Company shall acknowledge receipt of any such complaint, initiate an internal investigation of the matter and shall respond to the Client within a reasonable amount of time but not later than 1 month from the date of acknowledging receipt of the complaint;
4.1.4. Unilaterally terminate the Agreement provided that there is no debt outstanding from the Client towards the Company;
4.1.5. The Client may decide to close his/her Account (provided that there is no debt outstanding from the Client towards the Company) by communicating his/her desire for the same at [email protected] turboxbt.com. Prior to closure of the Account and permission to withdraw any remaining funds, the Client must have completed all required (by the Company) KYC and AML formalities including submission of all necessary information and documentation and also must have completed any open trades or contracts in the Platform.
4.2. The Client:
4.2.1. Acknowledges that the Account shall be activated upon the Deposit of funds into the Account;
4.2.2. Represents and warrants that he/she shall at all times be compliant with and honor all of the terms and conditions of this Agreement;
4.2.3. Represents and warrants that he/she shall ensure that at all times the username and password (to the Account) will only be used by him/her and will not be disclosed to any other person;
4.2.4. Shall be liable for all transaction orders submitted through the Platform and any orders received in this manner by the Company shall be considered to have been given by the Client;
4.2.5. Confirms that any strategies and/or decisions and/or any activities performed by him/her through his/her Account and on the Platform, are made having in mind/considered/being aware of all risks involved and solely on the basis of his/her knowledge and upon his/her sole discretion;
4.2.6. Accepts any risk, including without limitation to any risk of financial loss, that arises from unauthorized access to and operation of his/her Account/Platform by third and/or unauthorized parties;
4.2.7. Irrevocably accept full responsibility for his/her actions according to current tax legislation valid at the place of residence/living of the Client regarding any performed transactions, included but not limited to revenue/income tax;
4.2.8. Irrevocably accepts that he/she is solely responsible for any technical deficiencies that may occur in the Client’s connection to the Platform, in the Client's equipment used for receiving the Services (included, but not limited to, personal computer, laptop, mobile phone and etc.), and confirms that he/she shall have no claims whatsoever against the Company for any direct and/or indirect losses and damages the Client may suffer due to such deficiencies;
4.2.9. Acknowledges that the Company has the right to refuse to execute any transaction order requested by the Client and/or any other action required, under this Agreement, for as long as it maintains any claims against the Client, whether these are due, future or contingent and regardless of whether these arise from the same transaction from which such obligations arise.
4.2.10. Acknowledges and accepts that this Agreement and/or any materials made available on the Website may be amended unilaterally, from time to time, by the Company, and that he/she shall be responsible to check on the Website frequently in order to ensure that he/she has made himself/herself aware of any changes effected in such manner. Upon the submission of a request by the Client of any transaction/operation, any changes effected to this Agreement and/or to any materials made available on the Website shall be deemed as acknowledged and accepted by the Client.
4.2.11. The Client understands that it is his/her sole responsibility to remain up-to-date with all changes of this Agreement. The applicable version shall be the latest version uploaded on the Company’s Website and in the event of a dispute the latest version shall prevail.
4.2.12. In case the Client does not agree with the amendments, the Client shall be entitled to terminate this Agreement by sending an email to [email protected] turboxbt.com with the request to terminate the Agreement and close the Account (subject to the provisions of p. 4.1.5 and p. 4.1.6 above).
4.2.13. The Client hereby warrants and represents to the Company that he/she:
(a) Is not a USA/territories of the US national and is not residing in any country (including the restricted countries specified in p. 2.6 above) where distribution or provision of financial products or services (including the Services) offered by the Company would be contrary to local law or regulations;
(b) Is responsible to ascertain the terms of and shall comply with any and all applicable local laws and/or regulations to which he/she is subject to;
(c) has all legal capacity/competence, is of sound mind and has reached the age of maturity in the country which he is resident or citizen;
(d) is not under any legal disability with respect to, and is not subject to any laws or regulations which prevents his/her performance of this Agreement or any contract or transaction contemplated by this Agreement;
(e) acts as principal and not as an authorized representative / attorney or trustee of any third party;
(f) all cryptocurrencies and other assets/funds delivered for any purpose by the Client to the Company are not connected directly or indirectly to any illegal and/or criminal activities and/or terrorism;
(g) all cryptocurrencies and other assets/funds delivered for any purpose by the Client to the Company, shall belong exclusively to the Client and at all times be free from any charge, lien, pledge or encumbrance, unless the Client has otherwise disclosed to the Company in writing.
4.2.14. The Client also declares, represents and warrants that he/she will not:
(a) violate any intellectual property rights of any party including the Company and any other Client;
(b) indulge in activities which are prohibited by law in the jurisdictions which governs the Client and/or where the Company operate;
(c) indulge in any illegal activities prohibited by applicable national or international laws;
(d) provide fraudulent or fake information or misrepresent as another person when opening an Account;
(e) undertake any scraping, mining, denial of service attack, distributed denial of service attack, hacking or other illegal activities on the Platform;
(f) use the Platform at any time to illegally spread any software or code;
(g) modify the computer hardware or software that the Client use with the Platform to transmit misleading or false information about the Client’s location, age or any other information that it seeks;
(h) use any other Client’s Account;
(i) disclose any bugs or security issues in the Platform without disclosing it to the Company and providing the Company with a 30 (Thirty) day written notice that the Client intends to disclose it to any other party. The bugs or security issues discovered in the Platform can at no time be used for any illegal purpose or for gaining an unfair advantage for trading in the Platform;
(j) upload, propagate or distribute any sensitive, potentially racial, criminal, pornographic or illegal content including information protected by intellectual property laws anywhere in the world;
(k) disseminate, modify, reassemble, reverse-engineer or use the Platform in any manner which may be considered beyond the normal use of the Platform;
(l) use the Platform and any linked platforms such as blogs or support forums for transmission of any illegal, false, frivolous, defamatory or fake information. The Company retains the sole right to delete any information from the Platform and any linked platforms such as blogs or support forums uploaded by any party at the Company’s sole discretion;
(m) use the Platform to secure any immoral or illegal gains;
(n) use the Platform and any linked platforms to harass, harm or perform illegal activities against other Clients, the Company or any other third parties.
4.2.15. The Client certifies that he/she has provided accurate, complete and true information about himself/herself upon registration and will maintain the accuracy of the provided information by promptly updating any registration information that may have changed. Failure to do so may result in Account closure, Account limitations and/or voiding of any transactions, at the Company’s sole discretion.
4.2.16. The Client may be required by the Company to provide some or all of the following documents verifying their identity and other personal information to use the Platform, the Services or open an Account as a part of KYC, AML and Anti-Fraud measures:
(a) Passport or Domestic Citizenship Identification Document or equivalent;
(b) Tax Identification or Registration Number (in certain cases document conveying such registration);
(c) Bank Account Information of the source of the funds being transferred as the Deposit;
(d) Proof of Address in the form of Government Issued Documents;
(e) any additional document that may be required by the applicable law on AML and/or by the Company (based on the Company’s internal assessment).
In certain cases the Company may require the Clients to notarise or apostille or undertake similar verification process for the documents submitted by them.
The failure to provide the requested documents can result in Account closure and freezing of the Client’s funds.
4.2.17. Any Account which has been opened with information which the Company believe is incorrect may be closed down and cancelled at any time. If the Client refuses to provide the documents specified in p. 4.2.16 above, the Company may not be able to provide the Client with permission to use the Services and the Platform.
4.2.18. The Client may provide consent for opening an Account through any method including by signing a document or clicking on any required buttons or through email or by use of any other authentication options provided by the Website or through any other mode that is required under law or by the Company.
4.3. The Company shall be entitled to:
4.3.1. Modify the size of the Company’s financial obligations to the Client with changes of the appropriate entry of the transaction operations register in case of violation of one or several provisions of the Agreement herein by the Client;
4.3.2. The Company reserves the right to change, add or set as default the transaction payout, the minimum and/or the maximum Transaction Amount, the possible Expiration Time for one, several or all of the assets;
4.3.3. Contact the Client with any question concerning the Agreement herein, including, in order to clarify the Client's intentions regarding his/her actions through the Account;
4.3.4. Unilaterally modify and/or amend and/or restate the terms and conditions of this Agreement and/or the material made available on the Website without prior notice to the Client;
4.3.5. Engage third parties with a view to cooperate in order to facilitate and/or enhance any and/or the provision of, the Services under this Agreement.
4.3.6. With regard to any matters and/or obligations that are not covered by this Agreement, the Company shall act accordingly upon its own discretion but at all times in accordance with business custom and existing practices within the line of the Services.
4.3.7 The Company reserve the right to terminate any event or trade which was conducted when according to the Company’s opinion there was an error in the Platform or in the current prices and/or published payouts.
4.3.8. In case the Account of the Client is frozen, terminated or suspended fully or partially by the Company for any reason, the Company may at its sole discretion decide to honor any contractual obligations which the Company believe were entered into without violation of any laws or this Agreement.
4.3.9. The Company may determine specific trading rules and limits for trades and contracts on the Platform which are a part of the Agreement, should be read together with the Agreement and will be additionally provided to the Client. Such trading rules and limits may be changed from time to time depending on the changing market, regulatory and other conditions.
4.3.10. The Company retains the exclusive right to terminate any license and block any Client from using or accessing the Platform at any time without providing any reason for the same. The Clients have no right to claim unhindered use of the Platform.
4.3.11. The Company retains the exclusive right to terminate any license and block any Client from using or accessing the Platform at any time if the Clients in question abuse staff, other Clients or try and repeatedly exploit system inefficiencies brought about by system errors, Price Feed glitches and related issues or defame the Platform in social media or other electronic or offline channels.
4.4. Obligations of the Company:
4.4.1. Subject to the provisions of this Agreement and the Company being reasonably satisfied that the Client is compliant with the terms and conditions of this Agreement and/or has not in any way breached any terms of this Agreement, the Company shall offer the Services through the Website;
4.4.2. To fulfil provisions of the Agreement herein.
5. Limitation of Liability
5.1. The Company is committed to ensure continuity of the Services on the Website. However, the Company assumes no responsibility for any error, omission, deletion, interruption, delay, defect, in operation or transmission, communications line failure, theft or destruction or unauthorized access or alteration of the Website or the Services. The Company declines the responsibility for any problems or technical malfunction of any telephone networks or lines, computer online systems, servers or providers, hardware or software, or any technical failure because of technical problems or traffic congestion on the Internet, the Website or any of its products/services (including the Services). To the extent permitted by applicable law, in no event the Company shall be liable for any loss or damage arising from use of the Website or the Services for any content posted on or through the Website or the Services, or the conduct of all users (including the Clients) of the Website or the Services, whether online or offline.
5.2. The Company does not provide any warranty regarding the suitability of any part or the whole of the Platform and equipment used by the Company including computer systems, technology, hardware, networks, software for a particular purpose including but not limited to use for financial trading and entering into financial contracts and will not indemnify or compensate any Client for any losses/damaged arising from the use of the Platform.
5.3. THERE IS NO EVENT THE COMPANY OR ANY OF ITS DIRECTORS, OFFICERS, EMPLOYEES OR AGENTS SHALL BE LIABLE FOR ANY KIND OF DAMAGES OR LOSSES WHATSOEVER TO THE CLIENT, INCLUDING, WITHOUT LIMITATION, INDIRECT, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES ARISING OUT OF OR RELATED TO THE USE OF THE WEBSITE OR THE SERVICES OR THE PLATFORM, INCLUDING WITHOUT LIMITATION THE QUALITY OF THE USEFULNESS OF INFORMATION PROVIDED THROUGH OR AS PART OF THE WEBSITE OR ANY INVESTMENT DECISION MADE ON THE BASIS OF THE INFORMATION, WHETHER THE DAMAGES OR LOSSES WERE PREDICTABLE OR NOT AND WHETHER OR NOT THE COMPANY HAS BEEN ACQUAINTED WITH THE POSSIBILITY OF SUCH DAMAGES OR LOSSES. LIMITATION OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION AND IN NO EVENT SHALL THE COMPANY CUMULATIVE LIABILITY TO THE CLIENT EXCEEDS THE AMOUNT OF MONEY THE CLIENT TRANSFERRED OR DEPOSITED IN HIS/HER ACCOUNT ON THE WEBSITE IN CONNECTION WITH THE TRANSACTION GIVING RISE TO SUCH LIABILITY.
5.4. It is the Client's responsibility to verify that all transactions and the Services received are not contradictory to any applicable law and to undertake any other legal duty emanating from the use of Website at the Client’s sole option, discretion and risk, and the Client is solely responsible for ascertaining whether it is legal in the Client's jurisdiction and/or place of residence. The Client holds sole liability for all transactions in his/her Account, including all cards transactions or other means of Deposit and withdrawal transactions (as stated below).
5.5. The Client is responsible for securing his/her username and password for his/her Account. The Client holds sole responsibility for any damage and losses caused due to any act or omission of the Client causing inappropriate or irregular use of the Client’s Account.
5.6. It is clearly stated and agreed by the Client that the Client bears sole responsibility for any decision made or to be made by the Client relying on the content of the Website and no claim or suit of any kind will arise to that effect against the Company and its directors, employees, functionaries or agents. The Company will hold no responsibility for any loss of profits related to the Website, transactions carried out by the Client, services or any other damages, including special damages or indirect damages or circumstantial damages caused, except in the event of malicious acts made by the Company.
5.7. Without limitation of the aforesaid and only in the event of definitive judgment by court or other authorized legal institution resolving that the Company holds liability towards the Client or third party, the Company's liability, in any event, will be limited to the amount of money deposited or transferred by the Client to his/her Account in respect of the transaction which caused the liability of the Company.
5.8. Any non-compliance with the provisions of this Agreement or the applicable laws of any jurisdiction by the Client may lead to the cancellation of the Account for the Client and legal proceedings may be commenced against the Client involved in such acts by the Company or the law enforcement authorities. In these situations, the Company will not be responsible to provide any refunds or compensation of any funds in the Account.
5.9. Although, the Company attempts to provide the highest degree of security and adhere to the latest cyber security guidelines, the Company cannot guarantee that the Platform will be malware or virus free. The Company requests the Client to ensure that he/she ensures to check the Platform using their own antivirus or antimalware software before using. The Company also requests the Client to install and maintain the latest version of operating system and security software and scan the Website when accessing it. The Company will not accept any claims for any losses of any nature from the presence of any malware or virus in the Website or in the Platform and will not indemnify any Clients for the same.
6. Force Majeure
6.1. The Company shall not bear responsibility to any harm or any form which shall be caused to the Client in the event that such harm is the result of a force majeure and any outside event which is not in the control of the Company. The Company shall not bear any responsibility for any delay in communications or failure in the Internet, including, without limitation, computer crashes or any other technical failure, whether caused by the telephone companies and various telecommunication lines, the ISP computers, the Company’s computers or the Client’s computers.
6.2. If the Company has sufficient grounds, it may claim force majeure events. Force majeure events include (without limitation):
6.2.1. any action, event or occurrence (including, but not limited to, any strike, riots or civil strife, terrorist acts, wars, natural disasters, accidents, fires, floods, storms, power outages, interruptions in the operation of communication equipment, software or electronic equipment, incorrect operation of any kind of equipment or software, the instability in the quote stream, interruptions in the operation of or the instability of liquidity providers, etc.), which, in the Company's reasonable opinion, led to the destabilization of the market or the markets for one or more assets (instruments);
6.2.2. the suspension of work, the liquidation or closure of any Underlying Instrument or the absence of any event on which the Company bases prices, or the imposition of restrictions or special or non-standard terms of trade in any Underlying Instrument, or in respect of any such event.
6.3. If the Company has established that a force majeure event occurred, the Company has the right (without prejudice to the Company's other rights) to take any of the following steps without prior written notification to the Client and at any time:
184.108.40.206. cancel any or all transactions the result of which is directly or indirectly caused by force majeure event;
220.127.116.11. suspend or amend the application of one or all provisions of the Agreement as long as the force majeure event makes it impossible for the Company to comply with these provisions;
18.104.22.168. take or, on the contrary, not take any action in respect of the Company, the Client or other clients, if the Company reasonably deems it appropriate under the circumstances.
6.4. The Company assumes no liability for breach (improper discharge) of obligations if force majeure events interfered with that discharge.
7. Governing Law
7.1. All the terms and conditions of this Agreement as well as any matters pertaining to this Agreement, including without limitation to matters of interpretation or disputes, shall be governed by the applicable laws of St. Vincent and the Grenadines.
7.2. The Company and the Clients irrevocably submit to the exclusive jurisdiction of the courts St. Vincent and the Grenadines. The Company shall be entitled to use the interpreter's services during the court trial in case of dealing with disputable situations according to the legislation of the St. Vincent and the Grenadines.
8. Intellectual Property
8.1. The Company has exclusive intellectual property rights on all content, trademarks, services marks, trade names, logos and icons that are the property of the Company, its affiliates and agents, and are protected by copyright laws and international treaties and provisions. The Client agrees not to delete any copyright notices or other indications of protected intellectual property rights from materials that the Client receives from third persons or downloads and prints from the Website of the Company.
8.2. The Client will not obtain any intellectual property rights in, or any right or license to use such materials or the Website of the Company, other than as set out in this Agreement. Images displayed on the Website of the Company are either the property of the Company or used with permission.
8.3. The Company retains the exclusive ownership and all other applicable rights including intellectual property rights over any content which may be generated by any Client through his/her use of the Platform or the Services. Even if the Client may have inherent claims over such content in some jurisdiction, through use of the Platform or the Services, the Client has agreed to transfer all such rights without any additional compensation to the Company.
8.4. The Client agrees not to upload, post, reproduce or distribute any information, software or other material protected by copyright or any other intellectual property rights (as well as rights of publicity and privacy) without first obtaining the permission of the owner of such rights and the prior written consent of the Company.
9.1. The Company is not a tax agent and thus shall not provide Clients' financial information to any third parties. This information will not be disclosed unless officially requested by government authorities.
9.2. Trading by using of the Services may be subject to taxation. The Client is solely responsible for withholding, collecting, reporting, paying, settling and/or remitting any and all taxes to the appropriate tax authorities in such jurisdiction(s) in which the Client may be liable to pay tax. The Company shall not be responsible for withholding, collecting, reporting, paying, settling and/or remitting any taxes (including, but not limited to, any income, capital gains, sales, value added or similar tax) which may arise from the Client’s participation in the trading by using of the Services.
10. RISK DISCLAIMER AND INDEMNITY
10.1. Trading by using of the Services involves significant risks and can result in the loss of all the Client’s invested capital/funds/money. The Client should not invest more than he/she can afford to lose and should ensure that the Client fully understand the risks involved.
10.2. Trading by using of the Services may not be suitable for all investors. Before trading, the Client shall take into consideration his/her level of experience, investment objectives and seek independent financial advice, if necessary.
10.3. It is the Client’s responsibility to ascertain whether he/she is permitted to use the Services provided by the Company based on the legal requirements in his/her country of residence.
10.4. The Services is not governed by any regulatory framework, therefore the Client will not benefit from the protections available to clients receiving regulated investment/financial services.
10.5. The Client alone is responsible for evaluating all the merits and risks associated with the use of the Services.
10.6. The prices of Short term Contracts offered by the Company derive their value from the price action of the Underlying Instruments. Information on the previous performance of Short term Contract does not guarantee the same results of its current and/or future performance. The use of historical data does not lead to precise and reliable forecast.
10.7. Transactions in Short term Contracts offered by the Company can put the Client’s capital at significant risk. Executing transactions in Short term Contracts offered by the Company is not suitable for all users (Clients). The Client acknowledges, and without any reservation accepts, that the price of any Short term Contract may vary significantly either upwards or downwards. The Client acknowledges, and without any reservation accepts, the existence of a substantial risk of incurring losses and damages as a result of the executing transactions in Short term Contracts offered by the Company and acknowledges the Client’s intent and willing to take such risk.
10.8. The Company will not and will never provide the Client with any recommendations or with any advice that is directly or indirectly connected with Short term Contracts.
10.9. The Client has to note that the Company may provide the Client with useful information on relatable subjects created by third parties, BUT the Company does not approve or endorse this information and/or these tools. Such information may include transaction execution opportunities and it should be understood that, by taking any actions as a result of this information/tools, the Client accepts and understands that it can cause loss of a part or all of the Client’s capital. The Company doesn’t accept any liability for any such losses resulting from actions taken by the Client based on information and or tools produced by third parties.
10.10. The Company may also provide, at its discretion, information, news, market commentary or any other information through its Website, agents or the Platform but when it does so, it is understood that the information is provided solely to enable the Client to make his/her own decisions and does not amount to transaction execution advice. The Client fully accepts that the Client is solely responsible for any transaction in Short term Contracts which the Client executes and that any transaction which the Client executes is done basing upon the Client’s own judgment.
10.11. The Short term Contracts are not suitable for all Clients. These Contracts are highly complex and the Client must always make sure that he/she is fully aware and understand the specific characteristics and risks regarding the Services.
10.12. Due to the high volatility of Short term Contracts prices can vary considerably during the course of a day, which may bring the Client profit as well as significant loss. Short term Contracts with volatile price fluctuations should be carefully considered as there are higher risks of loss. Prices may fluctuate due to changes in market conditions which is beyond the Client’s control and that of the Company and it may not be possible for transactions to be executed at the declared prices resulting in losses.
10.13. Executing transactions in Short term Contracts carry a high risk of losing a part or all of the capital in the Client’s Account.
10.14. Prices of the Underlying Instruments carry high volatility and thereby can widely fluctuate or become temporarily or permanently unavailable, therefore Clients should execute transactions carefully and only with funds that they can afford to lose.
10.15. The nature of transactions in Short term Contracts may lead to an increased risk of fraud or cyber-attack, and may mean that technological difficulties experienced by the Company may prevent the access to the Services.
10.16. The Company is not responsible for financial losses or damages arising from failure, malfunction, interruption, disconnection or malicious actions of information, communication, electricity, electronics or other systems, which are not the result of gross negligence or wilful default of the Company.
10.17. When executing transactions on the Platform, the Client shall take into consideration the risks arising from: (a) failures in the Client’s software, equipment, and connection; (b) errors in the Client’s Platform settings; (c) failure to update the Client’s internet browser version in a timely manner; (d) the Client’s failure to follow the instructions for using the interface of the Platform.
10.18. The Company is not responsible for errors that occur in the operation of the Platform and will not compensate losses/damages resulting from errors in the operation of the Platform.
10.19. The Client must understand that any third-party attacks against the Company’s systems which result in disruption of the Services or loss of funds, are not the responsibility of the Company and any liability for resulting losses will not be compensated by the Company. The Company ensures that it takes all reasonable measures to deflect such attacks and to provide the Client with a secure and smooth transaction execution experience.
10.20. The Company does not accept transaction execution order over email, phone or live chat. The Client must fully understand that the unencrypted information transmitted by e-mail is not protected from any unauthorized access.
10.21. The Client may suffer financial losses/damages caused by the materialization of the above-mentioned risks, and the Client understands that the Client shall be responsible for all related losses/damages that the Client may suffer, assuming that these are not owed to the Company’s gross negligence or wilful default.
10.22. The Client fully agrees that the amount of time required to process the Client’s orders and/or instructions may significantly increase if market conditions become abnormal. Additionally, the Client agrees and acknowledges that orders may not be executed at declared prices and there is a chance that they may not be executed at all. Abnormal market conditions include but are not limited to: times of rapid and volatile price movements, severe fluctuations in the same trading session and as a result, under the rules of the relevant exchange, trading is suspended or restricted, or there is lack of liquidity, or this may occur at the opening of trading sessions.
10.23. The Client also assumes and acknowledges responsibility for all transactions in Short term Contracts performed within countries where they are restricted or prohibited by local law or regulations. Laws/regulations regarding Short term Contracts may differ throughout the world and it is the Client’s obligation to make sure that the use of the Services is fully compliant with any laws, regulations or directives applicable in the country of the Client’s reside.
10.24. The ability to access the Website or the Platform does not mean that the Services or any related activities are legal under the laws of the Client’s country of residence. The Services of the Company should not be used by anyone in any jurisdiction in which these Services are not authorized or unlawful. All the Clients are required and responsible to check regulations related directly or indirectly to the Services offered by the Company in their respective countries of residence before making registration and executing the transactions on the Platform.
10.25. The Company is not responsible for financial losses/damages arising from delayed or failed receipt of messages sent by the Company.
10.26. The Client is fully responsible for the security of the credentials of his/her Account as well as the confidential information that is sent to the Client by the Company. The Company is not responsible for any financial losses/damages that might arise from the Client’s disclosure of this information to third parties.
10.27. Through acceptance of this Agreement, the Client accepts to hold the Company, the Company’s partners and affiliates harmless for any physical, mental or financial harm which may be caused by the Client’s use of the Platform, the Services and the Website.
10.28. Although, the Company tries to maintain the highest degree of functionality for the Platform, the Services and the Website, there may be scheduled or unscheduled interruptions in service for reasons beyond the Company’s control. The Company will try to inform the Clients at the earliest about such possible disruptions but may fail under certain circumstances. The Company does not undertake to honour any claims for losses arising from such disruptions.
10.29. Although, the Company tries to build the most stable builds of the Platform, it may not perform as expected under certain circumstances. The Company requests the Client to inform the Company immediately about any such situations and stop using the Platform, the Services or the Website immediately till the Company resolve the problem. The Company will not be liable to compensate the Clients or any third party for any claims arising from the non-performance or failure of the Platform, the Services or the Website provided that the Company has taken reasonable steps to prevent any such failure.
10.30. The Company may try to contact the Client periodically with offers, updates, news and other promotional services. None of this may be considered as financial or investment advice and the Company bears no liability from the Client’s use of such information. The Clients may unsubscribe from these notifications by contacting the Company at [email protected] or through any other option provided by the Company.
10.31. Through use of the Platform or the Services, the Client agrees to hold harmless, defend and indemnify the Company and all its subsidiaries, affiliates, partners, employees, advertisers, suppliers and all other related parties from and against any third party claim arising from or in any way related to the breach of this Agreement and local or international applicable laws, rules or regulations in connection with the Client’s use or access of the Services/the Platform, including any liability or expense arising from all claims, losses, damages (actual and consequential), suits, judgments, litigation costs and attorneys' fees, of every kind and nature.
10.32. DISCLAIMER OF WARRANTIES. THE CLIENT’S USE OF THE PLATFORM AND THE SERVICES ARE AT THE CLIENT’S OWN RISK. TO THE EXTENT PERMITTED BY APPLICABLE LAW, THE SERVICES AND THE PLATFORM ARE PROVIDED "AS IS," WITHOUT WARRANTY OF ANY KIND. WITHOUT LIMITING THE FOREGOING, THE COMPANY EXPLICITLY DISCLAIMS ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, QUIET ENJOYMENT, OR NON-INFRINGEMENT, AND ANY WARRANTIES ARISING OUT OF COURSE OF DEALING OR USAGE OF TRADE. THE COMPANY MAKES NO WARRANTY THAT THE SERVICES AND THE PLATFORM WILL MEET THE CLIENT’S REQUIREMENTS OR BE AVAILABLE ON AN UNINTERRUPTED, SECURE, OR ERROR -FREE BASIS, AND THE COMPANY MAKES NO WARRANTY REGARDING THE QUALITY, ACCURACY, TIMELINESS, TRUTHFULNESS, COMPLETENESS, OR RELIABILITY OF ANY CONTENT.
10.33. BY ACCEPTING THIS AGREEMENT AND OPENING ACCOUNT WITH THE COMPANY OR STARTING TRADING WITH THE SERVICES THE CLIENT CONFIRMS THAT HE/SHE HAS CAREFULLY READ THE TERMS AND CONDITIONS OF THIS AGREEMENT AND FULLY UNDERSTANDS AND ACCEPTS ALL THE ABOVEMENTIONED AND ASSOCIATED RISKS.
11. Other terms
11.1. All communication shall be made with the Company and will be made by the Company in English.
11.2. This Agreement may be updated from time to time and the version available on the Website will be considered as the governing document for any incidents arising on that date. Only the latest version of the Agreement will be available on the Website. The Clients have the sole responsibility to download and save any copies of the Agreement on a particular date if they require them. No request for supplying older versions of the Agreement will be accepted.
11.3. This Agreement will not be interpreted against one party merely as it was drafted by the party.
11.4. For purposes of this Agreement, whenever the context requires:
(a) the singular number shall include the plural, and vice versa;
(b) the masculine gender shall include the feminine and neuter genders;
(c) the feminine gender shall include the masculine and neuter genders;
(d) the neuter gender shall include the masculine and feminine genders;
and the words include and including, and variations thereof, shall not be deemed to be terms of limitation, but rather shall be deemed to be followed by the words without limitation.
11.5. By using the Platform, the Services and the Website, the Client accepts that he/she has read and accepted the entire Agreement and is legally competent to provide consent under laws of all jurisdictions which cover his/her use of the Platform, the Services and the Website.
11.6. In case the Client is a resident within the European Union, the Client’s consent to this Agreement shall also be considered as “unambiguous consent” in terms of Article 7 of Directive 95/46/EC of the European Parliament and of the Council of 24 October 1995 whereby the Client has permitted collection, transfer and processing of his/her personal user and other information anywhere across the world.