TERMS OF USE
1. General
The following describes the terms and conditions upon which TraderXP Ltd ("TXP") offers access to its Website to you the customer ("you") and the use of its services (the "Agreement").
This Agreement describes the terms, conditions and risks applicable to your use of our services available under the domain of www.traderxp.com (the "Site"). If you have any questions regarding this Agreement please contact Customer Support.
You must read, agree with and accept all of the terms and conditions contained in this Agreement without modifications, which include those terms and conditions expressly set forth below and those incorporated by reference, before you may become a customer of TXP. By continuing to access or use the Site, you agree to follow the terms and conditions of this Agreement as they may apply to you.
This Agreement is effective upon acceptance in registration for newly registering customers, or upon receipt of e-mail notification by other users.
If you do not agree to be bound by the terms and conditions of this Agreement, do not use or access our services, and inform us in writing immediately.
2. Online Services Agreement
This Agreement is made by and between TXP and you.
This Agreement applies to both the Site and trading platform, as well as to the electronic content and or software currently contained on the Site that supplies the customer with real time information about the exchange rate of some currencies, as well as with the program facilities for executing trading transactions in the foreign exchange market via the web, phone or fax, and any other features, content or services that TXP may add in the future (the "Services").
3. Membership Eligibility
The Services are available to and may only be used by individuals or companies who can form legally binding contracts under the law applicable to their country of residence. Without limiting the foregoing, our Services are not available to persons under the age of 18 or otherwise under legal age ("Minors"). If you are a Minor, you may not use this service. IF YOU DO NOT QUALIFY, PLEASE DO NOT USE OUR SITE.
For avoidance of doubt, we shall not be responsible for any unauthorized use by Minors of our Services in any way or manner.
Furthermore, our 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. You shall bear sole responsibility for any decision made and/or to be made by you relying on the content of the Site.
Without derogating from the above provision, we shall not be responsible for verifying and/or checking whether you possess such sufficient knowledge and/or experience, nor shall we be responsible for any damage and/or loss incurred by you due to and/or related to the Site, transactions carried out by you and/or your use of the Services.
Without limiting the foregoing, our Services are not available where they are illegal to use, and TXP reserves the right to refuse and/or cancel Services to anyone at its own discretion.
4. Registration Information and Requirements
When you register for the service, TXP will ask you to provide certain identifying information.
You are responsible for securing your Username and Password for your account with TXP. You hold sole responsibility for any damage caused due to any act or omission by you causing inappropriate or irregular use of your account.
You agree to provide true, accurate, current and complete information about yourself during the registration process, and you also agree not to impersonate any person or entity, misrepresent any affiliation with another person, entity or association, use false headers or otherwise conceal your identity from TXP for any purpose. If you are registering as or for a business entity, you hereby declare that you have the authority to bind that entity to this Agreement.
TXP will treat with care the information you entrust to it, in accordance with the disclosures it provides during the registration process and in its Privacy Policy.
5. Legal Restrictions
Without limiting the foregoing, you understand that laws regarding financial contracts vary throughout the world, and it is your obligation alone to ensure that you fully comply with any law, regulation or directive, relevant to your country of residency with regards to the use of the Site. For avoidance of doubt, the ability to access our Site does not necessarily mean that our Services, and/or your activities through it, are legal under the laws, regulations or directives relevant to your country of residency.
You hereby declare that the moneys invested in your account with TXP do not originate from drug trafficking, abduction, or any other criminal or illegal activity.
6. Limited License
TXP grants you a non-exclusive, non-transferable and limited personal license to access and use the Site (the "License"). The License is conditioned on your continued compliance with the terms and conditions of this Agreement.
You agree not to "deep-link" to the Site, resell or permit access of the Site to others, and not to copy any materials appearing on the Site for resale or for any other purpose to others without the prior written consent of TXP.
For avoidance of doubt, you shall be responsible and bound by any unauthorized use of the Site, made in breach of this section.
You agree to use the information received from the information systems of TXP for the sole purpose of executing transactions inside and within the Site.
You further agree not to use any electronic communication feature of a Service on the Site for any purpose that is unlawful, tortuous, abusive, intrusive on another's privacy, harassing, libelous, defamatory, embarrassing, obscene, threatening or hateful.
The License granted under this Agreement will terminate if TXP believes that any information provided by you, including your e-mail address, is no longer current or accurate, or if you fail to otherwise comply with any term or condition of this Agreement and all rules and guidelines for each service or TXP establishes that you have abused in any way (including but not limited to engaging in a transaction out of market rates) the TXP trading platform.
Upon such violation, you agree to cease accessing Services. You agree that TXP, at its sole discretion and with or without notice, may terminate your access to any or all Services, close your open transaction and remove and discard any information or content within a Service.
7. Risk Disclosure
Trading in financial markets in general and purchasing digital options in particular is speculative and involves extremely high risk and high financial leverage. It is manifestly stated by you that you fully understand that minor differences in market prices may occur in short time periods and may cause high profits or losses in relation to the securities, as high as total loss of all securities, all in a short time period and that there is no existing method that can assure profits from transactions in financial markets.
By registering to the Site and carrying out each transaction, you hereby approve that you are aware of the following:
(i) The type of transactions offered on the Site may be considered special risk transactions and carrying them out might involve high level of risk.
(ii) You have full information and knowledge regarding options, including binary options and the risks involved in options transactions in general and digital options transactions in particular. Carrying out transactions is at your sole discretion and you hereby undertake the risks involved in such transactions and have the financial capability to finance the aforesaid transactions.
(iii) In the event of purchasing binary options you might expose yourself to considerable loss of the invested money or even to total loss of the securities.
(iv) You have read the terms of purchasing options prior to the purchase and fully understand the consequences and results of success or failure.
(v) You know that incorrect investment may cause considerable loss.
(vi) You know that an option's lifetime may be as short as a few minutes.
The use of the Site is solely designated for sophisticated users with the ability to sustain swift losses up to a total loss of the invested money and/or the securities. You are responsible for careful consideration whether such transactions suit you and your purposes while taking into consideration your resources and your personal circumstances and to understand the implications of actions made by you. It is highly recommended that you consult with tax experts and legal advisors.
8. Financial Information
TXP may make available to you through one or more of its Services a broad range of financial information that is generated internally or obtained from agents, vendors or partners ("Third Party Providers"). This includes, but is not limited to, financial market data, quotes, news, analyst opinions and research reports, graphs or data ("Financial Information").
Financial Information provided on this Site is not intended as investment advice. TXP does not endorse or approve the Financial Information, and we make it available to you only as a service for your own convenience. TXP and its Third Party Providers do not guarantee the accuracy, timeliness, completeness or correct sequencing of the Financial Information, or warrant any results from your use or reliance on the Financial Information.
Financial Information may quickly become unreliable for various reasons including, for example, changes in market conditions or economic circumstances. Neither TXP nor the Third Party Providers are obligated to update any information or opinions contained in any Financial Information, and we may discontinue offering Financial Information at any time without notice.
It is your duty to verify the reliability of the information on the Site and its appropriateness to your needs in comparison with other reliable sources of information. We will hold no responsibility for allegedly caused claim, cost, loss or damage of any kind resulting from information presented on the Site or due to information the Site referred to.
You approve and agree that any oral information given to you, if given, in respect of your account might be incomplete and unconfirmed and any reliance on the information aforesaid is at your sole risk and responsibility. We do not give any warranty, neither explicit nor general, that pricing or other information supplied by us through Internet trading software or through the phone or through any other form is correct or that it reflects current market conditions.
9. Links
TXP may provide a link to other sites that are controlled or offered by third parties. Such link to a site or sites is not an endorsement, authorization, sponsorship or affiliation with respect to such site, its owners or its providers.
TXP cautions you to ensure that you understand the risks involved in using such sites before retrieving, using, relying upon or purchasing anything via the Internet.
Links to these Websites are provided solely for your convenience, and you agree that under no circumstances will you hold TXP liable for any loss or damage caused by use of or reliance on any content, goods or services available on other sites.
10. Trading Rescission
Trading on the Site or on part of it may be rescinded with no advance notice. You will have no claim or right of indemnification for damages allegedly caused by trading rescission, whether for carried out transactions or for transactions allegedly intended to be carried out.
11. Limited Liability
We undertake to supply steady Services on the Site. However, we do not guarantee that Services will not be interrupted, will be supplied steadily with no rescission, will be safe and error-free and will be immune from unauthorized access to the Site's servers or from damages, malfunctions or failures in hardware, software, communication lines and in systems, in the supply of continuous trading data, on your computers and at our suppliers or agents.
Supplying Services by us depends, inter alia, on third parties and we bear no responsibility for any actions or omissions of third parties and bear no responsibility for any damage and/or loss and/or expense caused to you and/or any third party as a result of and/or in relation to any aforesaid action or omission.
We will bear no responsibility for any damage of any kind allegedly caused to you which involves force majeure or any other external event uncontrolled by us which has influenced the Services and trading on the Site.
IN NO EVENT SHALL TXP, ITS OFFICERS, DIRECTORS OR EMPLOYEES BE LIABLE FOR LOST PROFITS OR ANY SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR IN CONNECTION WITH OUR SITE, SERVICES OR THIS AGREEMENT (HOWEVER ARISING, INCLUDING NEGLIGENCE) EXCEPT AS STATED IN THIS AGREEMENT.
THE LIABILITY OF TXP, ITS OFFICERS, DIRECTORS OR EMPLOYEES, TO YOU OR ANY THIRD PARTIES IN ANY PROVEN CIRCUMSTANCE IS LIMITED TO THE AMOUNT OF MONEY YOU TRANSFERRED OR DEPOSITED IN YOUR ACCOUNT ON THE SITE IN RELATION TO THE TRANSACTION GIVING RISE TO SUCH LIABILITY.
12. TXP's privileges in Client's accounts
You agree that (a) if you breach any of your obligations according to this Agreement; (b) if you are insolvent or bankrupt or in procedure of bankruptcy, reorganization, insolvency or any equivalent procedure; or (c) if TXP, at its sole discretion, finds it necessary in order to defend itself, it may, at any time and with no prior notice to you (1) terminate, cancel and/or close all or part of the transactions between you and TXP and calculate damages caused to TXP as it sees fit; (2) pledge, transfer, or sell the balance and/or securities in your account(s); or (3) perform any action which TXP, at its sole discretion, sees fit to cure the breach. TXP may perform the aforesaid actions without prior notice.
You confirm and agree that TXP might impose restrictions on trade, payments, Services or any other restriction on your account if required by law, including without limitation, court order, tax authority, enforcement authorities and any other official authority requirement. You agree that TXP might be required to payoff or block amounts of money existing in your account to fulfill requirements of the aforesaid authorities and you will have no right, claim or demand from TXP in respect of losses caused in your account due to any such action and you undertake to indemnify TXP upon TXP's first notice for any damage caused by TXP's aforesaid action.
TXP cannot accept request to modify or cancel an order received from you and you will be bound to the original order and its consequences
You will not assume that a specific order was executed unless you receive an official report from TXP which approves the execution of the specific order. It is your responsibility to verify the status of the pending orders prior to carrying out other orders. You will bear responsibility if an order(s) is identical to a pending order(s) also in the event that the additional order(s) is causing negative balance in your account.
In the event that you wish to withdraw the entire balance in your account and close the account, you must withdraw the balance and deliver to TXP a written notice to that effect; following the withdrawal (if any) TXP will close the account. You undertake to duly fill in the withdrawal request form and deliver to TXP full and accurate details for the money transfer from your account. TXP will hold no responsibility for any damage caused to you due to inaccurate or wrong details delivered by you
You are responsible for reading order confirmation and account reports delivered by TXP either by email or mail or in any other form, immediately following your receipt thereof. TXP shall consider the reports accurate unless you object within 3 business days. In the event of such objection, TXP has the right to determine the validity of the objection.
13. Various Means of Deposits and Withdrawals.
According to the requirements of anti-money laundering laws and regulations, when performing a deposit by way of bank transfer, you are required to use a single bank account located in your state of domicile and registered in your name. You have to deliver an official confirmation of transfer stating full details of the transferring bank account and verify that the deposit order is carried out according to TXP's requirements as to your identification details and those of your account. Lack of aforesaid confirmation or incompatibility between the account details and your details in your account on the Site might cause a rejection or loss of the request, transfer to a wrong account or recall of the deposit amount to the transferring bank and eventually to the annulment of the deposit order. Any withdrawal from the account on the Site, carried out (if at all) by bank transfer, will be transferred solely to the bank account from where the deposit was originally received.
If and as far as TXP will allow payment by other means of payment (e.g. internet transfer services): when carrying out deposits by means which are not cards and/or bank accounts you hereby agree and confirm that you are obliged and committed to regulations and rules applying to such services as determined in their terms of use (if any) and in applicable law, which may include, inter alia, commissions and other restrictions. TXP, at its sole discretion, might carry out withdrawal orders by alternative means to those which have been used in the original deposit order, subject to anti-money laundering laws and regulations.
TXP will pay you profits from your account on the Site by way of checks or transfer to your card account that was used when the deposit was made, and following your withdrawal order to instructions presented on the Site. TXP will make its best effort to pay you in accordance with your chosen mean. Without prejudice to the aforesaid, TXP reserves the right to pay the you your profits by different means in accordance with your type of card and/or TXP's internal regulations. Clients who executed the deposit with 'Visa' card will be allowed to carry out profit withdrawals solely to the card account and not by way of checks. In the event of withdrawal order by check, the check will be sent within 3 business days to the address designated by you in the withdrawal request. Card withdrawal shall be performed at times and according to the card company's procedures.
While withdrawal request is pending (meaning you have not received withdrawal confirmation from TXP), you may order stop withdrawal, according to the instructions presented on the Site, and recall the money to your account on the Site. Executing stop withdrawal will make the amounts meant to be withdrawn immediately available in the account on the Site. You agree and confirm that if the withdrawal request is completed (meaning you have received withdrawal confirmation from TXP), stop withdrawal request is not possible.
Subject to the aforesaid, if you have requested to carry out two or more withdrawals and then requested to carry out a stop withdrawal, you may first cancel the former withdrawal request. After stopping one withdrawal, you may stop the following one and so on.
14. Law and Jurisdiction
The laws of the British Vergin Islands shall govern the use of the Site and all its consequences including this Agreement. The competent court in Biritish Vergin Islands shall have sole jurisdiction over any matter involving use of the Site.
15. Intellectual Property
Copyrights, trade marks and other intellectual property rights ("IP") on the Site and Services are the property of TXP or of third parties which have authorized TXP to use such IP on the Site and Services. Without prejudice to the aforesaid, TXP is the sole owner of names, trademarks, patents and designs on the Site, whether registered or not, of trade secrets concerned with the Site's operation and Services, of the Site's design, of technical data concerned with the Site, including without limitation, software, applications, graphic files and other files, computer codes, texts and/or any other material included in it, excluding Client Information as defined below (the "Information"). It is forbidden to copy, distribute, duplicate, present in public, or deliver the Information, in whole or in part, to third parties. It is forbidden to alter, advertise, broadcast, transfer, sell, distribute or make any commercial use of the Information, in whole or in part, except with duly signed prior permission from TXP.
Unless explicitly stated otherwise, any material and/or message, including without limitation, idea, knowledge, technique, marketing plan, information, questions, answers, suggestions, emails and comments ("Client Information") delivered to TXP shall not be considered Client's confidential or proprietary right. Consent to the Agreement will be considered as authorization to TXP to use the entire Client Information (excluding Client Information designated for personal identification), including development of such Client Information according to and in favor of TXP's needs, including public relations and promotion of the Site in the media, at the absolute and sole discretion of TXP, including on the Internet, press, and/or television, and all without requirement of any additional permission from TXP and/or the payment of any compensation due to such use.
You undertake that any notice, message or any other material supplied by you shall be appropriate and shall not harm other persons including their proprietary rights. You shall not upload to the Site and/or send through the Site any illegal information and/or harmful and/or disturbing to other clients and users of the Site, and/or any advertising and commercial material, and you shall avoid any action which might damage TXP.
16. Indemnification
You will indemnify TXP and its agents, employees, directors, successors and their assignees ("Indemnified Persons") against any and all liabilities, losses, damages, costs, and expenses (including reasonable attorney's fees) incurred by the Indemnified Persons and arising out of your failure to fully and timely comply with your obligations set forth in this Agreement and/or as a result of any breach of any applicable laws or regulations and/or out of TXP's need to enforce such liabilities.
In the event that there is any liability by you to the Indemnified Persons under the indemnity provisions of the clause hereinabove, TXP shall have the right to set-off that amount against any balance held to the credit of the account opened by you on the Site.
17. Entire Agreement & Amendments
This Agreement, including all Annexes, constitutes the entire Agreement among the parties hereto and supersedes any and all prior agreements or understandings among the parties, if any, with respect to the subject matter of this Agreement.
TXP may amend the terms of this Agreement from time to time by posting the amended terms on 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.
TXP shall not be bound by any waiver unless made by a duly signed written instrument by TXP and no waiver or amendment of this Agreement may be implied from any course of dealings between the parties or from any failure by TXP to enforce its rights hereunder.
18. Assignment
TXP is entitled to assign its rights and/or liabilities according to the Agreement by a notice to you. You have no right to assign your rights and/or liabilities unless a prior written consent to that effect was given by TXP, and whether or not such consent shall be given is at TXP's sole discretion.
19. Term and Termination
The term of the Agreement shall be unlimited, however TXP will be allowed to terminate this Agreement at any time by notice to you ("Termination").
As of Termination, you shall not be able to carry out new transactions.
20. Severability
If any provision in this Agreement or its implementation towards any person or in any circumstance shall be invalid, illegal or unenforceable, the remainder of the terms of this Agreement and its implementation shall not be affected and will be enforceable in any manner allowed by law.
21. Communications and delivery of notices
Reports and any notice hereunder may be sent to you at the address set forth in this Agreement, or such other address notified by you in writing to TXP from time to time. All communications sent to you shall be deemed delivered, at the time of delivery if sent by email, facsimile, by hand delivery or notified through the Internet trading platform or within 3 business days if posted by mail. Communications by you shall be deemed delivered only when actually received by TXP.
