Terms & Conditions
IMPORTANT—YOU SHOULD READ THESE TERMS AND CONDITIONS CAREFULLY BEFORE COMPLETING REGISTRATION (AND IF APPLICABLE INSTALLATION OF THE COMPANY’S PROPRIETARY SOFTWARE). BY CLICKING ‘ACCEPT’ OR ‘I AGREE’ OR ‘CONTINUE’ AS THE CASE MAY BE, AND THEREFORE REGISTERING AND/OR USING THE COMPANY’S SERVICES, YOU CONFIRM AND ACKNOWLEDGE THAT YOU HAVE READ THESE TERMS AND CONDITIONS AND END USER LICENSE AGREEMENT, THAT YOU UNDERSTAND ITS CONTENT, AND THAT YOU AGREE TO BE BOUND BY ALL OF ITS TERMS AND CONDITIONS. IF YOU DO NOT AGREE TO ANY OR ALL OF THE TERMS AND CONDITIONS SET FORTH IN THIS AGREEMENT, DO NOT ACCESS OR USE THIS WEBSITE.
This agreement was written in English. To the extent any translated version of this agreement conflicts with the English version, the English version controls.
Date of Last Revision: April 04, 2017
1. General Terms
1.1. This Agreement is executed by and between GUM Ltd (The “Company”) – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, MH96960, Marshall Island – and the Client, a physical or legal person (the “Client”). The Company owns and operates the site. Payment clearing and billing services are provided by GUM Ltd and by GM MANAGEMENT DOO PODGORICA (ex CM Services).
1.2. Transactions made on www.sternmarkets.com will be represented on your billing statement as:
1.3. Our website is accessible worldwide to anyone with Internet access. Access to and use of our site are subject to these terms and conditions. By using our website you acknowledge having read this Agreement and its appendices in its entirety and accept its Terms & Conditions and Privacy Statement. If you do not agree with these policies, discontinue using this site immediately.
1.4. You acknowledge and agree to the fact that the Company may update and/or adjust and/or amend the terms of this Agreement from time to time according to the needs of its activity and in its sole discretion, provided however that the accurate and current binding form shall be published and accessible to you on the Company’s Website, and their effect shall be from the date such amended terms have been inserted into the site. You are responsible for checking whether the Agreement was amended. Any amendment shall come into force as of the day it was published on the Site. If you do not agree to be bound by the changes to the Terms and Conditions of this Agreement, do not use or access our Services, and inform us in writing immediately. Your continued use of our website, following the Date of Last Revision of our Terms & Conditions, constitutes your acceptance of our amended terms, policies or guidelines.
1.5. You may not transfer this Agreement or any of your rights or obligations hereunder to any third party.
The following terms used in this Agreement shall have the meaning ascribed next to them unless stated otherwise in this Agreement:
2.1. “System” shall mean an electronic system designed to facilitate trading in Financial Contracts via the Internet using the Stern Markets trading platform as defined above subject to all terms of this Agreement and the terms of the Trading Manual (as defined below) which confirms an integral part of the Agreement;
2.2. “Financial Contract” or “Contract” shall mean a contract to purchase online trading or any other financial offering that the Company may offer by the System from time to time to its customers;
2.3. “Online trading” shall mean any trading activity offered on the Sternmarkets platform;
2.4. “Contract Price” shall mean the rates offered by the System and based upon “indicative” rates provided by various financial information systems as the current updated rates for contracts of the applicable nature on the financial markets;
2.5. “Markets” shall mean the international financial, commodities, and other applicable markets, where contract rates are being fixed upon free trade, and other markets where various financial assets are traded;
2.6. “Business Day” shall mean one calendar day beginning at 00:00 and ending at 23:59 GMT;
2.7. “Transaction” shall mean purchase/sale of a Financial Contract for a fixed price;
2.8. “Closing” shall mean a reversed transaction aimed to close an open position (sale of a financial contract previously purchased and vice versa) with a sum or at a quantity identical to the one spent in the initial transaction on the same Business Day;
2.9. “Collateral” shall mean the initial sum deposited by you with the Company after the deduction of loses, deduction of funds withdrawn by yourself, plus profits derived from the Transactions;
3. Membership Eligibility
3.1. The Company’s Services are offered to individual or legal persons residing outside of the EU and are available and may be used only by individuals or companies who can establish legally binding contracts under the applicable laws in their country of residence. If you register as a commercial entity, you declare that you have the required authority to bind that entity to this Agreement.
3.2. The Services are not available to persons under the age of 18 or the required minimum age in your country of residence or who cannot execute legally binding contracts under laws of their country of residence (“Minors”). If you are a minor, you may not use this service. For the avoidance of doubt, the Company shall not be responsible for any unauthorized use of its Services by Minors in any way or manner.
3.3. Furthermore, the Services are available only to, and may only be used by, individuals who have sufficient experience and knowledge in financial matters to be capable of evaluating the merits and risks of acquiring financial contracts via this site and have done so without relying on any information contained in this site. To remove any doubts, the Company is under no obligation to verify and/or check whether you possess such sufficient knowledge and/or experience, nor shall it be responsible for any damage and/or loss incurred by you as a result of insufficient knowledge and/or experience. Without derogating from the above-mentioned provision, we disclaim any responsibility for auditing and/or checking your level of knowledge and/or experience, and any liability for damages and/or loss suffered as a direct result and/or indirectly from your use of the Site.
3.4. Our services are available from most countries in the world with the exception of those mentioned in the following list: Iran, Yemen, Syria, France, Turkey, North-Korea, U.S.A. and Israel. As such we do not allow our products and services to be used directly or indirectly in the countries listed above. In addition, residents of the above countries are barred from opening accounts with our Company.
3.5. Without limiting the above-mentioned provisions, the Company reserves the right to refuse and/or cancel access to its Services to anyone at its sole convenience.
3.6. Only one account is allowed per person. No gains can be levied on accounts opened under false names or multiple accounts opened by the same person.
4. Legal Restrictions
4.1. You understand that laws regarding Financial Contracts vary throughout the world, and it is your sole obligation to ensure that you fully comply with any laws, regulations or directives, relevant to your country of residency with regards to the use of the Website and/or the System.
4.2. For the avoidance of doubt, an actual ability to access the Company’s Website does not necessarily mean that the Services and your activities are legal under the laws, regulations or directives, relevant to your country of residence.
4.3. You hereby confirm, after conducting the necessary inquiries, that there is no legal constraint which precludes you from using the System or executing Transactions as described in this Agreement. To remove any doubts, the Services are not to be used where they are illegal to use, and the Company reserves the right to refuse to provide and/or cancel Services, in whole or in part, to anyone at any time, at its own discretion without cause, including but not limited to events in which the Company learns that you are performing activities which are not regulated under the laws of your place of residence.
4.4. You are solely responsible for reporting your activities to any applicable tax or other authority, as may be required by any laws applicable to you or to your country of residence and you are responsible to pay all applicable taxes, levies, governmental fees and charges associated with the activities of your account including required deductions at source and you forego any claim against the Company in this respect.
5. Risk Factors Disclosure
5.1. RISK FACTORS DISCLOSURE: THE EXECUTION OF FINANCIAL TRANSACTIONS, SIMILAR IN NATURE TO THE TRANSACTIONS CONTEMPLATED AND DESCRIBED IN THIS AGREEMENT SHOULD BE CONSIDERED AS HIGH-RISK FINANCIAL ACTIVITIES. It is manifestly stated by the Client that he fully understands that minor differences in market prices may occur in short time periods and may cause high profits or losses. The use of the System is solely designated for sophisticated users with the ability to sustain swift losses up to total loss of the invested money and/or the securities. You are responsible for careful consideration whether such Transactions suits you and your purposes while taking into consideration your resources, your personal circumstances and understanding the implications of actions made by yourself. SINCE THE RISK OF LOSS OF PART OR ALL OF THE INVESTED FUNDS IN A SHORT PERIOD OF TIME IS HIGH, IT IS ADVISABLE TO USE FUNDS WHICH ARE DESIGNATED BY YOU FOR HIGH-RISK SPECULATIVE TRANSACTIONS AND SOLICIT ADVICE FROM AN INDEPENDENT FINANCIAL ADVISOR IN CASE OF DOUBTS.
6.1. Upon execution of this Agreement, the Company shall set up an account in your name and ownership in the System. The account and other relevant details shall be in accordance with the information provided by you, as shall be required by the Company from time to time. You must ensure that the information provided by yourself is complete, true and accurate. It is hereby clarified that the provision of misleading information may be regarded as an offense and shall entail the immediate cessation of activities in your account or its immediate closure.
6.2. You acknowledge that upon the completion of your identification process by the Company, it may report you as a beneficiary in the applicable account held by the financial institution with which the Company deposits the Collateral funds, in amounts up to the credit balance recorded in your account at the System from time to time, and to that end may transfer identification details provided to it by yourself.
6.3. Upon the opening of the account, the Company shall issue you with a confidential personal identification code (hereinafter: the “Access Code”) to be used by you to operate your account via the Internet. You hereby irrevocably undertake to safeguard the Access Code and hereby waive any and all claims against the Company relating to any unauthorized use of your Access Code.
7. Recordings and Record Keeping
7.1. The Company or an authorized party on its behalf may (but is not obligated to) record every telephone conversation.
7.2. The Company or an authorized party on its behalf shall keep copies of every written order received from you for a period to be determined by its sole discretion. Furthermore, the Company or an authorized party on its behalf shall maintain records of all your Transactions.
7.3. Any of these records/recordings may be used by the Company for any purpose the Company sees fit, including in the resolution of conflicts which might occur between the Parties.
7.4. It is hereby clarified that the said records/recordings are the sole property of the Company and it is under no obligation to deliver or expose such material to anyone. It is further clarified, that in any event in which the Company shall be required to deliver a copy of such or provide documentation regarding your account, including by strict instructions from the competent bodies or authorities, you shall bear the full cost of duplicating and/or copying of any record and/or documents in accordance with the then current the Company official price list for such services.
8. Limited License
8.1. The Company grants you a limited non-exclusive, non-transferable license to access and use the Site (the “License”). The license is subject to your compliance with the terms of this Agreement. You agree not to resell or make available the Site to any other person, and will not copy any content contained on the Site for resale or for any other purpose without the prior written consent of the Company. To avoid any doubt, you will be liable and bound by any unauthorized use of the Site, in violation of this section.
8.2. The license granted to you by the Company in this Agreement to use the Software will remain in effect for so long as this Agreement or any amended agreement which replaces it from time to time, also remains in full force and effect. Ownership of the Software, Documentation and all intellectual property rights therein shall remain at all times with the Company. Any other use of the Software by any person, business, corporation, government organization or any other entity is strictly forbidden and is a violation of this Agreement.
8.3. You agree not to use electronic communication feature of a Service on the Site for any illegal, abusive, intrusive, obscene, threatening or hateful purpose, as well as harassment and vilification in the privacy of others.
9. Intellectual Property
9.1. This Website, Software, and Documentation belong to the Company or a third party including our licensors. This content may include names, terms and/or data which may or may not be identified with a symbol identifying it as a name, term or item in which copyright is claimed or a registered trademark is held. The lack of any such symbol All copyright, database rights, Trademarks and other intellectual property rights in the content of should not, under any circumstances, be understood as meaning that the name, term or data is not the intellectual of either ourselves or a third party.
9.2. You may not publish, display, disclose, rent, lease, modify, loan, distribute, or create derivative works based on the Software or any part thereof. You may not reverse engineer, decompile, translate, adapt, or disassemble the Software, nor shall you attempt to create the source code from the object code for the Software. You may transfer the Software to other computers that you own, as long as you only use it on one computer at a time.
9.3. All rights not granted to you herein are expressly reserved by the Company or its applicable licensor, suppliers or partners. You may not remove any proprietary notice of the Company from any copy of the Software or Documentation.
9.4. You agree to use the information received from the information systems of the Company for the sole purpose of executing Transactions inside and within the Company’s Website or System. You further agree not to use any electronic communication feature of a Service on the site for any purpose that is unlawful, tortuous, abusive, and intrusive on another’s privacy, harassing, libelous, defamatory, embarrassing, obscene, threatening or hateful.
10. Links and Hyperlinks
10.1. The Company may offer a link to other websites that are provided or controlled by third parties. Such link to a site or sites is neither an endorsement or an approval nor a sponsorship or an affiliation to such site, its owners or its suppliers.
10.2. We strongly caution you and recommend that you make sure you understand the risks associated with the use of such sites before retrieving, using or purchasing via the Internet. Links to these sites are provided solely for your convenience and you agree not to hold the Company responsible for any loss or damage due to the use or reliance on any content, products or services available on other sites.
11. Anti-Money Laundering (“AML”) and Know Your Client (“KYC”) Policy
11.1. Money laundering occurs when funds from an illegal/criminal activity are moved through the financial system in such a way as to make it appear that the funds have come from legitimate sources. Trading accounts are one vehicle that can be used to launder illicit funds or to hide the true owner of the funds. The Company does not tolerate money laundering and supports the fight against money launderers. In order to protect itself and its clients, the Company follows the guidelines set by the UK’s Joint Money Laundering Steering Group in an effort to combat money laundering and terrorist financing.
11.2. You hereby declare that all funds to be deposited in your account are of legal origin, are not the proceeds of crime, including but not limited to, proceeds of drugs trafficking or dealings in other prohibited substances or proceeds of illegal arms trades, illegal gambling, prostitution, terror funds etc.
11.3. In order to enforce its Anti-Fraud and Anti Money Laundering policies, the Company has set a variety of security measures and fraud controls that require us to fully our Clients’ identity in order to deter, detect and report potentially suspicious activity. In particular, you are required to provide our compliance department via the following email email@example.com the following documents when you deposit funds into your Trading Account (“Required Documents”):
- A clear color copy of your valid passport with the signature page or, a clear copy or digital photo (back and front) of a valid ID card where all corners of the document are visible.
- A clear color copy of the front and back side of the credit card(s) you are using to fund your account. The name of the cardholder must match the name on your passport/ID card. Please cover all but the first 6 and the last 4 digits on the front side of your card; Please cover the 3 (4) digit CVV number on the backside of your card.
- A copy of a utility bill (electricity bill, phone bill etc.) or a bank account statement with your name and address no older than 3 months.
- A signed declaration of deposit that contains the history of your online deposits on the System.
11.4. We require the receipt of all the above-mentioned documents prior to making any cash transactions to your benefit. Some circumstances may require us to request these documents before allowing any other activities in your account, such as deposits or trades. If you do not provide us with the required documents, your pending withdrawals will not be processed. We will notify you of such events via our system.
11.5. The Company may, from time to time, at its sole discretion, require you to provide additional and/or updated proof of identity (such as notarized copy of passport or other means of identity verification as the Company deems required under the circumstances) and may at its sole discretion suspend an account until such proof has been provided to its satisfaction.
11.6. The Company directs funds withdrawals back to the original source of remittance, as a preventative measure.
11.7. Any fraudulent activity will be documented and all related accounts to it will be immediately closed. All funds in these accounts will be frozen and forfeited.
12.1. The execution of any Transaction in the account is subject to the deposit of the Collateral by you to an account designated by the Company, to be used as collateral for the Transactions described herein. The Company shall not allow you to execute any Transaction without the said deposit and/or in the event that the Collateral is insufficient for the execution of a said Transaction, subject to the Company’s policy from time to time. To remove any doubts, in the event that the Company allows you to commence trading before it receives confirmation of deposit of Collateral by you, and in effect no Collateral was deposited, the Company shall have the right to deduct from any profits gained by you the amount which should have been deposited as collateral prior to your commencement of trading.
12.2. For the avoidance of doubt, monies received from you are not invested in any securities, futures, currencies, derivatives or other investments, on your behalf. Such monies are solely used as collateral for your transactions in the System.
12.3. The Company shall have all rights and authority with respect to the Collateral until its withdrawal by you. In particular, the Company may deposit such funds with any financial institution including but not limited to such funds being used as collateral for your Transactions.
12.4. In the event that a Transaction shall take place and for some reason there shall be no sufficient Collateral in your account, the Company shall have the right to decrease your exposure in the said Transaction and/or approach you to rectify such required Collateral and/or demand from you payment in full for any deficiency which has occurred by your Transaction which was not covered by sufficient Collateral. It is hereby expressly stated, that the above-mentioned right of the Company, does not obligate it to decrease your exposure in any Transaction and you shall have no claims against the Company regarding your losses resulting from the decrease or non-decrease of your exposure in any particular Transaction by the Company.
12.5. When you make deposits through wire transfers, it is the responsibility of the Client to ensure that his/her account number and the registered name of the account owner accompany every transfer to the Company.
13. Trade Compensations
13.1. The Company awards Trade compensations and trade-specific credits (both hereinafter referred to as “Trade compensations”) to its new and regular clients. Trade compensations are part of the Company’s promotions program. All Trade compensations are offered at our Account Executives’ discretion. While Trade compensations have obvious advantages, the Client is of course never required to accept them.
13.2. By accepting a Trade compensations into your Account, you are agreeing to the Trade compensation-specific Terms and Conditions. All Trade compensations accepted are final and cannot be removed once they have been credited to an account and accepted by the client.
13.3. Trade compensation and promotional offers are not transferable or assignable.
13.4. Only one Trade compensation is awarded per person, household, shared computer or shared IP address, unless stated otherwise in the promotion offer or offered by the Account Executive.
13.5. The Company reserves the right to change or end any promotional offer at any time and without further notice but of course only with an effect for future trade compensations.
13.6. The Trading Volume* Requirement for any trade compensation is as follows – you must execute a total trading volume of at least one hundred eighty times (180x) your allocated trade compensation amount and your trade compensation eligible deposit unless explicitly stated otherwise in the relevant supplemental Terms and Conditions. For example, if you receive a trade compensation worth £100 on a deposit of £100, you will be required to accumulate a trading volume of £100 x 180 = £18000. Only fully settled trades (i.e. trades that result in a win or loss) will be counted towards the Trading Volume Requirement.
* Trading volume is calculated on the sum of Margin requirements per trade.
13.7. Any Trading Compensation activated on an account will be bound by a termination period of 120 days concerning the trading turnover prerequisite. In other words, if a client doesn’t fulfill the obligatory trading turnover volume within 120 days, the applied Trading Compensation will be removed by the company.
13.8. Kindly note that only completed Contracts For Difference (i.e. positions that conclude in a successful trade or a defeating trade) with a running time of 5 minutes, minimum, will be considered for the gratification of your trading volume requirement. In order to achieve your trading volume requirement, your funds will be traded first prior to the Trade compensation.
13.9. The trade compensation can be withdrawn only if the Trading Volume Requirement has been fully respected and fulfilled.
13.10. BE ADVISED that your allocated funds are wagered first; once fully wagered, you will start wagering on your trade compensation.
13.11. Customers with pending withdrawals are not eligible to claim Trade compensations.
13.12. PLEASE NOTE that upon accepting a trade compensation, you agree that the funds that have been allocated to the trade compensation and the trade compensation amount itself are subject to the Trading Volume Requirements. Any attempt to withdraw/transfer (including transfers to other products) any funds in your account; including any cash balance which is NOT attached to the trade compensation, prior to having met the full wagering requirements, will be cancelled.
13.13. If you have yet to complete the wagering requirements of a trade compensation whilst having claimed for another trade compensation/s, you must be aware that you must complete the wagering requirements of the first trade compensation before starting to accumulate the wagering for any consecutive trade compensation/s. Please note that until your combined total balance (allocated funds + trade compensation amount) between your active trade compensation and any other pending trade compensation/s reaches less than £1, you will still be tied into the wagering requirements for any claimed trade compensation/s in your account.
13.14. Any indication of cash-back arbitrage, fraud or manipulation, or other forms of deceitful or criminal activity concerning the award or provision of any Trade compensation will in effect render the client’s trading account null and void, including suspension of any profits accrued during the lifetime of the account. In the event of any dispute, the decision of the Company will be final.
13.15. All other Terms & Conditions also apply.
14. Transactions & Order Execution
14.1. By accepting all of the Terms and Conditions of this Agreement, you hereby authorize and empower the Company, until written notice contrary to the effect shall be received from you by the Company, to carry out orders and activities in accordance with your instructions or according to instructions provided by your duly authorized agent(s) in writing and/or orally all in accordance with the powers granted to the Company under this Agreement and/or for the provision of the Services.
14.2. The acceptance of your instructions by the Company and the facilitation of execution of Financial Contracts by the Company shall be in accordance with customary practices in the international financial markets and customary practices which apply to Financial Contracts of the nature of the Contracts executed by you using the System.
14.3. All the Transactions shall be carried out on your behalf and at your risk. Neither the Company nor any authorized party on its behalf shall be held liable for any loss, damage or debt incurred by you resulting directly or indirectly by actions contemplated under this Agreement. To remove any doubts, in any event, any sum to be claimed by you may not exceed your Collateral.
14.4. You may from time to time inform the Company of any person or persons that you have empowered or authorized to communicate with the Company on your behalf. Such information shall only be sent to the Company by a written notice, which shall include the names and identifications details of the authorized person or the persons. In addition, a signature specimen of each of the above shall be delivered to the Company. This delegation of authority could also be revoked in writing. Written or orally transmitted orders to execute Transaction by any such authorized representative shall bind you and the Company for all intents and purposes.
14.5. The Company reserves the right to cancel at its sole discretion trades that were executed at rates that were ‘out-of-market’, regardless of whether said trades were the result of faulty market feeds or mis-quotes on the trading platform or human error, whether under the control of the Company or not.
14.6. You hereby declare that you understand and accept that a fundamental pre-condition to this Agreement, relates to the Company’s right to close at any time, without an advanced notice, any Transaction executed by you, in the event that your portfolio shall be of zero value or less, as calculated with respect to the fluctuations in the Financial Contracts’ prices.
15. Settlements and Withdrawals
15.1. The Settlement of your losses shall be deducted by the Company or an authorized party on its behalf from the Collateral and payments of accrued profits made out to you by the Company or an authorized party on its behalf. Any profits accruing from your Transactions shall be added to your account as a supplementary collateral.
15.2. To remove any doubts, your credit balance shall bear no interest.
15.3. No funds or assets shall be transferred by one client to the other with respect to any Transaction.
15.4. In case you wish to withdraw funds accrued in your account, you must, as a pre-condition to processing your request, (i) complete, sign and return to the Company the ”Withdrawal Request” form, which shall be delivered to you by the Company or an authorized party on its behalf, and (ii) be fully KYC compliant as per article 11 of these Terms & Conditions.
15.5. No funds shall be released by the Company without the prior receipt by the Company or an authorized party on its behalf, of the said form, duly signed by you or your designated representative.
15.6. Without limiting the above-mentioned provision,
15.7. Winnings may only be paid to the initiator of an account and to an account under his own name and not to any third party’s account. When you maintain an account by means of telegraphic deposits, winnings are only paid to the holder of the originating bank account, and it is your responsibility to ensure that account number and name accompany all transfers to the Company. When you maintain an account by means of credit/debit card deposits, winnings are paid back to the same card up to the value of the collateral deposited. Additional winnings may be transferred by telegraphic means subject to the conditions described above.
15.8. It is hereby clarified that the Company does not provide currency exchange services and therefore your Collateral may not be repaid to you in a currency different from the currency you deposited with the Company. The outstanding balance (of your debts and receivables from the Company) shall be repaid to you in the same currency with which you paid your Collateral.
15.9. The Company may take up to 3 business days to process a withdrawal request. Once your application is approved all payments demanded by you shall be transferred to you within, and no later than, seven (7) business days following your request for payment.
15.10. Withdrawals are subject to a withdrawal fee depending on the chosen withdrawal method. As of the date of these Terms & Conditions, the applicable withdrawal fees are as follows:
- Credit Card: 3.5%
- Wire Transfer: $20
- Withdrawals of less than 100 USD/GBP/EUR/AUD on Credit Card and/or Wire Transfer will incur a flat withdrawal fee of $20.
15.11. Refund / Cancellation Policy: In case a Client has paid or deposited money with the Company with respect to the services offered by the Company through the website, the Company reserves the right to refund / send back to the Client any amounts received in any of the following events:
- Upon Client’s request, subject to Client’s balance with the Company and subject to Client being KYC compliant; or
- Mutual agreement between Company and Client; or
- Company’s requirements for provision of services have not been met by the Client; or
- upon termination of the contractual relations between the Parties with or without cause;
all subject to any debt of the Client towards the Company.
16. Commissions and Charges for Inactive & Dormant Accounts
Accounts with a positive balance that are inactive (no trades, no deposits, no withdrawals and no open positions) for a period of two months will be charged a monthly maintenance fee of 100 USD/GBP/AUD/Euro (depending on the type of currency on the account) or the remaining balance.
17. Trading Suspension
17.1. The Company reserves the right to halt or suspend the trading facilities provided by the System, the operation of this site or sections thereof at any time without a prior notice due to the following circumstances:
- when, as a result of political, economic, military or monetary events (including unusual market volatility or illiquidity) or any circumstances outside the control, responsibility and power of the Company, the continued operation of this site or the System shall not be reasonably practicable without materially and adversely affecting and prejudicing your interests or the Company, or if, in the sole discretion of the Company, a price cannot be calculated for financial betting contracts; or
- when there is a breakdown in the means of communication normally employed in determining the price or value of any of the financial betting contracts or where the price or value of any of the financial betting contracts cannot be promptly or accurately ascertained; or
17.2. Under such circumstances, the Company or an authorized party on its behalf may close any open positions you may have (by performing a Reverse Transaction) without prior written notice being sent to you, at a fair market value reflecting, as closely as possible, the applicable prices of the relevant Contracts. You hereby waive any claims of indemnification / suits / causes of action against the Company in such an event and acknowledge that such waiver is a pre-condition to the validity of this Agreement.
18. Account Suspension
The Company reserves the right to refuse or cancel services and/or refuse to distribute profits to any person at its sole discretion, including, without limitation:
- if the Company has reason to believe that your activities on the Site may be illegal;
- if the Company has reason to suspect that the System was abused by you or that you have used some means in order to affect or manipulate the System in general or the price of a specific Contract in particular.
- if the Company shall have reason to believe that any information provided by you, including your e-mail address, is no longer current or accurate
- If you fail to provide to the Company any additional proof of identity such as a notarized copy of your passport or other means of identity verification as deemed necessary from time to time at the Company’s sole discretion
- if your activities may result in monetary damage to the Company;
- if you fail to otherwise comply with any terms or conditions of this Agreement and all rules and guidelines for each Service.
19. Financial Information
19.1. Through one or more of its Services, the Company can make available to you a wide range of financial information that is generated internally from agents, suppliers or partners (“Third Party Providers”). This includes, but is not limited to financial market data, quotes and news, analyst opinions and research reports, graphs and data (“Financial Information”). The financial information provided on this Site is not intentional investment advice. The Company offers financial information only as a service.The Company and its Third Party Providers do not warrant the accuracy, timeliness, completeness or correct sequencing of the financial information or results of your use of this financial information. The financial information may promptly become unreliable for various reasons, including, for instance, changes in market conditions or economic circumstances. Neither the Company nor the Third Party Providers are required to update the information or opinions included in the financial information, and we can interrupt the flow of financial information at any time without notice.
19.2. Furthermore, it is hereby clarified that the Company is not, and shall not, be responsible in any way to the accuracy of any information published on its Website by itself or by others, and every published or referenced item of information should be regarded as unfounded information for the purposes of managing your activity and risks. We strongly emphasize that you must ensure that all information required by you was checked and confirmed by yourself, through independent information sources to your satisfaction prior to the execution of any action by yourself on the Website. IF YOU DO NOT HAVE THE KNOWLEDGE AND/OR EXPERIENCE AND/OR PERSONALLY ASSESSED DATA OR EXECUTE TRANSACTIONS BASED ON A LEARNED BASIS PLEASE DO NOT USE OUR WEBSITE OR SYSTEM. The Company shall not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information as mention above.
20. Limited Warranty
20.1. We are committed to ensuring continuity of the Services on the Site. However, we assume 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 Site or Services. The Company declines any responsibility for any problems or technical malfunction of any telephone network 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 Site or any Service. To the extent permitted by applicable law, in no event shall we be liable for any loss or damage arising from the use of the Site or Services for any content posted on or through the Site or Services, or the conduct of all users of the Site or Services, whether online or offline. You agree to use the Site at your own risk.
20.2. You are aware that the Company does not provide any equipment nor is it an Internet Service Provider and therefore it shall not be liable, directly or indirectly, to any malfunction of any kind and nature whatsoever, on your end, or any other equipment not provided by the Company and/or any Internet connection malfunction and/or any computer program or software bugs and/or errors including but not limited to delays in the transmittal of your orders or the delayed receipt thereof. You shall be responsible for providing and maintaining the means by which to access the Website, which may include without limitation a personal computer, modem, and telephone or other access lines. You shall be responsible for all access, service, license and subscription fees necessary to connect to the Website and assume all charges incurred in accessing such systems. You further assume all risks associated with the use and storage of information on your personal computer or on any other computer through which you will gain access to the Website and the services (hereinafter referred to as “computer” or “your computer”). You represent and warrant that you have implemented and plan to operate and maintain appropriate protection in relation to the security and control of access to your computer, computer viruses or other similarly harmful or inappropriate materials, devices, information or data. You agree that the Company shall not be liable in any way to you in the event of failure of or damage or destruction to your computer systems, data or records or any part thereof, or for delays, losses, errors or omissions resulting from the failure or mismanagement of any telecommunications or computer equipment or software. You shall not transmit to or in any way, whether directly or indirectly, expose the Company or any of its online service providers to any computer virus or other similarly harmful or inappropriate material or device.
21. Limited Liability
21.1. By registering to this Site and funding your Trading Account you hereby confirm the following:
- You are aware that the contract prices presented by the Company are the prices at which the Company is willing to sell its online trading. These prices do not NECESSARILY reflect live market values.
- In the event of purchasing online trading, you might expose yourself to considerable loss of the invested money or even total loss of your invested funds.
- You read the terms of this Agreement and all terms relating to Financial Contracts as they are defined in this Agreement prior to the execution of any Financial Contract and fully understand the consequences and results of success or failure.
- You are aware of the risks involved in the execution of the transactions described in this Agreement and you have read and understood the Risk Factors Disclosure.
- By using this website you agree to assume full and exclusive responsibility liability for your research, decisions, and actions.
- Neither guarantee of performance, results nor any anticipated Return on investment is offered at any time.
21.2. By using the services offered by the Company and by using this website the user agrees that the Company and any other entities associated with the Company shall not be held liable for any direct or indirect, consequential loss or any damages whatsoever arising from this usage, or the use of any information, signals, software, messages, manual, worksheet, instructions, alerts, directives etc and any other information contained in regard to its use and understanding.
21.3. You acknowledge that you are solely responsible and personally liable for any and all actions and orders to be executed in your account, including the settlement of any Transaction, whether performed by you in person, any member of your family, any other third party who have gained access to your account, or by your agent or attorney or the Company’s employees carrying out your orders. You further agree that neither the Company nor its employees or anyone on its behalf shall be liable in any way whatsoever to the outcomes or consequences of such actions and/or orders. You are responsible for ensuring that you and you alone shall control access to your account and that no minors are granted access to trading on the System. In any case, you remain fully liable for any and all positions traded on your account, and for any credit card transactions entered into the site for your account. You shall also indemnify the Company in respect to all costs and losses of any kind, whatsoever as may be incurred by the Company as a result, direct or indirect, of your failure to perform or settle such a transaction.
21.4. You agree to defend and indemnify our company and its officers, directors, employees, and agents and to hold them harmless from and against any and all claims, liabilities, damages, losses, and expenses, including without limitation reasonable attorney’s fees and costs, arising out of / or in any way connected with your access to / or use of the Site or Services, your violation of any of the terms in this Agreement, or your breach of any applicable laws or regulations.
21.5. LIMITATION OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION AND IN NO EVENT SHALL THE COMPANY’S CUMULATIVE LIABILITY TO YOU EXCEED THE AMOUNT OF MONEY YOU TRANSFERRED OR DEPOSITED IN YOUR ACCOUNT ON THE SITE IN CONNECTION WITH THE TRANSACTION GIVING RISE TO SUCH LIABILITY.
22. Term and Termination
22.1. The Company may terminate this Agreement at any time by giving you notice to this effect. You may terminate this Agreement at any time by giving the Company 48 hours advanced notice. As of the date of the termination notice by you, you may not execute any new Transactions, which shall open new positions in your account, and your existing open positions shall be closed at the then available rates.
22.2. The license granted hereunder shall terminate if the Company considers that any information provided by you, including your e-mail, is no longer current or accurate, or if you fail to comply with any term or condition of This Agreement and all rules and guidelines for each service. It will be the same if the Company determines that you committed a crime on the System (including without limitation the conclusion of a transaction outside the market rates).
22.3. If such a violation of these Terms and Conditions occurs, you agree to cease accessing the Services. You agree that the Company, in its sole discretion and without notice, may terminate your access to all or part of the Services, close any open transaction and remove and discard any information or content within a Service.
23.1. Severability: In the event that any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions will remain in full force and effect.
23.2. No Waiver: The failure of a party to enforce any right or provision of this Agreement will not be deemed a waiver of such right or provision.
23.3. Assignment: Our Company may assign this Agreement or any rights and/or obligations hereunder without your consent.
23.4. Entire Agreement: This Agreement, including all Sections listed herein, comprises the entire and exclusive agreement of the Parties with respect to the subject matter hereof and supersedes any and all prior and contemporaneous agreements, understandings, arrangements, proposals or representations whether written or oral, heretofore made between the Parties and relating to this subject matter. In the event that Customer is comprised of several entities or individuals, the terms of this Agreement shall bind all of them jointly and severally.
23.5. Notices: The Company or an authorized party on its behalf may send to you any notices and documents by post, telex, courier, e-mail or by fax, as it deems fit. Any notice to be sent by you to the Company shall be sent by certified mail or by courier. Such notice shall be effective upon its actual receipt by the Company.
23.6. Jurisdiction: This Agreement shall be construed and enforced in accordance with, and shall be governed by Marshall Islands, notwithstanding any conflicts of laws principles. Each of the Parties hereby irrevocably (i) consents to any suit, legal action or proceeding with respect to this Agreement being brought exclusively in the competent courts of Marshall Islands (the “Courts”) and waives to the fullest extent permitted by law any objection which it may have now or hereafter to the venue of any such suit, action or proceeding in any such Courts and any claim that any such suit, action or proceeding has been brought in an inconvenient forum, (ii) acknowledges the competence of such Courts, (iii) explicitly submits to the exclusive jurisdiction of such Courts in any such suit, action or proceeding, and (iv) agrees that final judgment in any such suit, action or proceeding brought in such Courts shall be conclusive and binding upon it and may be enforced in all courts.
Please feel free to use the customer support Live Chat on our site or to contact us by e-mail at firstname.lastname@example.org if you have any questions concerning these Terms and Conditions.