TERMS OF BUSINESS

FIAT, Virtual Currencies, Tokens and CFD Trade

An off-the-shelf solution allowing the launch of a new trading platform from scratch.

Automated purchase/sale of virtual currencies, tokens, as well as purchase and sale for fiat money and CFD trading on virtual currencies.

CUSTOMER AGREEMENT

CA 2018 / 01

 

This is a  legal contract (hereinafter referred to as ”Agreement”) between  Kinetic Revolution  Ltd (hereinafter referred to as "Company" or “we”) and any individual or legal entity or other corporate body (hereinafter referred to as "Customer" or “You”) who has completed the application to open an eWallet with the Company.

 

Your consent acknowledges that You have carefully read, in its entirety, and understood this Agreement, respective Terms of Business, and that You agree to all of the provisions contained therein. Your consent further represents, warrants and certifies that the information provided by you in the Customer Application process to open an eWallet and/or any Account with Us is correct and complete.

 

CONTENTS

 

  1. 1. RISK DISCLOSURE ..................................................................................................................................

 

  1. 2. SUBJECT OF THE AGREEMENT ............................................................................................................

 

  1. 3. GENERAL CONDITIONS ..........................................................................................................................

 

  1. 4. EWALLET ACCOUNT ...............................................................................................................................

 

  1. 5. CASH ACCOUNT ......................................................................................................................................

 

  1. 6. REMUNERATION, OPERATIONAL PREMIUMS, EXPENSES AND COMMISSIONS .........................

 

  1. 7. THE COMPANY'S RIGHTS AND RESPONSIBILITIES .........................................................................

 

  1. 8. CUSTOMER REPRESENTATIONS, WARRANTIES AND AUTHORISATIONS ...................................

 

  1. 9. NO FINANCIAL ADVICE .........................................................................................................................

 

  1. 10. KEEPING YOUR ACCOUNTS SAFE......................................................................................................

 

  1. 11. EXPERT ADVISORS ...............................................................................................................................

 

  1. 12. LIQUIDATION OF ACCOUNTS...............................................................................................................

 

  1. 13. RESTRICTED JURISDICTIONS..............................................................................................................

 

  1. 14. LIMITATION OF LIABILITY AND INDEMNIFICATION ..........................................................................

 

  1. 15. DISCLAIMER OF WARRANTIES............................................................................................................

 

  1. 16. SERVICE PROVIDERS............................................................................................................................

 

  1. 17. COMMUNICATIONS, STATEMENTS AND CONFIRMATION ...............................................................

 

  1. 18. COMPLAINTS ..........................................................................................................................................

 

  1. 19. REFUNDS ................................................................................................................................................

 

  1. 20. PRIVACY..................................................................................................................................................

 

  1. 21. GOVERNING LAW AND JURISDICTION ...............................................................................................

 

  1. 22. BINDING EFFECT ...................................................................................................................................

 

  1. 23. AMENDMENTS ........................................................................................................................................

 

  1. 24. TERMINATION.........................................................................................................................................

 

  1. 25. TERMS AND HEADINGS ........................................................................................................................

 

  1. 1. RISK DISCLOSURE

 

1.1.      You acknowledge and agree that You shall access and use our Services at Your own risk.

 

1.2.      The Customer acknowledges the risk, which derives from exchange of Assets and trading margined cryptocurrency derivatives. The Customer acknowledges the  significant changes in the value of crypto currencies compared to the fiat currencies. Due to significant changes on the global market the value of the Customer’s investment may in fact substantially increase or decrease at any time.

 

1.3.      Cryptocurrencies are anonymous and extensive unregulated worldwide systems. Customers pin their faith  in the  digital,  decentralized  and  partly  anonymous  system,  which  via  peer  to  peer  network  and cryptography holds its integrity. Cryptocurrencies are not controlled by any authority and it is impossible to cancel already processed payment in a crypto currency. The Customer should always consider whether his/her financial situation and the rate of the risks is suitable to enable using the Exchange Platform and related Services.

 

1.4.      You understand and agree that, due to the technical and other restrictions, the Asset values displayed on the Website may be delayed and therefore not reflect the current, live market value of such Asset formed by the Company’s customers as per this Agreement and available in the Exchange Platform.

 

1.5.      You acknowledge that margined cryptocurrency derivative transactions are speculative, involve a high degree of risk, and is appropriate only for persons who can assume risk of loss of their margin deposit. You understand that because of the low margin normally required in trading margined cryptocurrency derivatives, price changes in such derivatives may result in the loss of Your margin deposit. You warrant that You are willing and able, financially and otherwise, to assume the risk of margined cryptocurrency derivatives trading, and in consideration of the Company carrying Your account(s), You agree not to hold us responsible for losses incurred through following any information received from us or our employees, agents or representatives. You recognize that guarantees of profit or freedom from loss are impossible performances in margined cryptocurrency derivatives trading. You acknowledge that You have received no such guarantees from us or from any of our representatives or any agent or other entity with whom You are conducting Your account and have not entered into this Agreement in consideration of or in reliance upon any such guarantees or similar representations.

 

1.6.      If You direct us to enter into any transaction: (a) any profit or loss arising as a result of a fluctuation in the exchange rate affecting such currency will be entirely for Your account and risk; (b) all initial and subsequent deposits for margin purposes shall be made in the currency which we may choose to accept, in such amounts as we may in our sole discretion require, with subsequent deposits being in the same currency as the initial deposit; and (c) we are authorized to convert funds in Your account for margin into and from such financial instrument at a rate of exchange determined by us in our sole discretion on the basis of the then prevailing money market rates.

 

1.7.      Execution risk (delays in execution): the risk that an execution the Customer places is delayed or not executed due to a delay in transmission of data between Customer’s terminal and our servers (see System Risk). This may result in the available price the Customer had placed an order at no longer being available. As the Customer will generally be accessing the Exchange Platform over a third party Internet service provider there is a risk that this may be caused by the Customer’s computer not maintaining a constant connection with our servers.

 

1.8.      Systems risk: the operational systems risk inherent in online trading systems apply to every transaction placed. This includes disruptions to communications, IT systems, software or hardware errors or other events that delay, interrupt or otherwise effect our systems operation. In the event such a disruption to the system does occur, the Customer may suffer a financial loss or loss of opportunity. In accordance with this Agreement and relevant Terms of Business, we make no warranties and are not liable in relation to the operation of the Exchange Platform or any other related service offered by us except to the case when disruption is caused by the fraud or dishonesty on the part of the Company or its employees, agents or representatives.

 

1.9.     By trading margined cryptocurrency derivatives the Customer is responsible for the ongoing maintenance of multi-currency exposure which may exposure the Customer to increased risks of losses and may lead to significant losses. The Customer agrees to not hold the Company liable for any losses incurred as a consequence of the Company maintaining such multi-currency exposure in the Customer’s account.

 

1.10.    The Customer acknowledges that market regulations and/or a significant imbalance of supply and demand, or a lack of liquidity may result in the temporary inability to buy or sell orders. This may result in the Customer holding positions for longer than desire or having to liquidate due to insufficient funds, which may result in losses up to or in excess of deposits.

 

  1. 2. SUBJECT OF THE AGREEMENT

 

2.1.      This Agreement together with the relevant Terms of Business set out the terms and conditions for provision of the Exchange Platform  www.kineticex.com and the services available to the Customer via the Exchange Platform (hereinafter referred to as the "Services").

 

2.2.      The Company provides the Customer with the following Services: opening and maintaining eWallet, Cash, Margin accounts (hereinafter referred to as the “Account” or the “Accounts”), and processing of exchange and trading transactions among and between customers in the Exchange Platform, including processing of payments made by the customers to exchange the Assets and trade margined cryptocurrency derivatives.

 

2.3.      By opening an eWallet with the Company You acknowledge that you have read and understood this

Agreement and agree to be bound by its provisions.

 

  1. 3. GENERAL CONDITIONS

 

3.1.      EWallet, Cash and Margin accounts are not the bank accounts and the money held on them will not earn any interest.

 

3.2.      The funds reflected on the Accounts balances belong to the person or legal entity, which is registered as Account holder. No person other than such Accounts holder has any rights in relation to the funds held on them, except in cases of succession. You may not assign or transfer Your Accounts to a third party or otherwise grant any third party a legal or equitable interest over it.

 

3.3.      You may only open any of the Accounts with us if it is legal to do so in Your country of residence. By opening an Account You represent and warrant to us that the opening of an Account does not violate any laws or regulations applicable to You.

 

3.4.      You must ensure that the information recorded on Your Accounts and which You provide to the Company during the signup process or any time thereafter is always accurate, truthful and up to date and You shall notify us promptly, but not later than within one month, of any changes in such information. As per our AML/CFT obligations and internal procedures we may ask You at any time to confirm the accuracy of Your information or to provide documents or other evidence.

 

3.5.      We reserve the right to carry out any necessary money laundering, terrorism financing, fraud or other illegal activity checks before authorising any withdrawal of Your funds. For these purposes, we may request You to provide additional verification documents within the terms defined by us.

 

3.6.      The Company shall neither receive nor disburse Customer's funds in cash currency. All transactions between the Customer and the Company shall be performed by wire or other methods, in which, the identities of both the sending and receiving parties can be verified by the Company and which the Company in its sole discretion shall deem appropriate. The Company shall not accept deposits from any third party to the Customer's Accounts, the Company shall not withdraw any funds from the Customer's Accounts to any third

 

party until otherwise agreed in written between the parties hereto. The Company shall perform wire transactions only between the Customer's account and another account which is held in the Customer's name or of which the Customer clearly demonstrates ownership to the Customer.

 

3.7.      You are entirely responsible for any and all activities conducted through Your Accounts. You agree to notify us immediately of any unauthorised use of any of Your Accounts as well as of any other breach of security. While we may implement certain monitoring procedures designed to alert us to fraudulent activity, we are not responsible for any unauthorised use of Your Accounts, and You agree that You are responsible for such unauthorized use and for protecting the confidentiality of Your password.

 

3.8.      It is strictly forbidden to use Your Accounts for any illegal purposes including but not limited to fraud and money laundering. We will report any suspicious activity to the relevant law enforcement agency. You are prohibited from using Your Accounts in an attempt to abuse, exploit or circumvent the usage restrictions imposed.

 

3.9.      If You conduct or attempt to conduct any transaction in violation of the prohibitions contained in this

Agreement , we reserve the right to:

 

  • reverse the transaction; and/or
  • block or suspend your Accounts or any of them; and/or
  • report the transaction to the relevant law enforcement agency; and/or
  • claim damages from You; and
  • charge You an administration fee of up to 100 USD in case we apply any of the above.

 

  1. 4. EWALLET ACCOUNT

 

4.1.      eWallet is an electronic facility which enables You to deposit and withdraw funds and make electronic funds transfers to/between/from Your Accounts held with the Company.

 

4.2.      You may maintain only one eWallet with the Company.

 

4.3.      Your eWallet is denominated in a currency of Your choice, as selected by You from the available currencies. Your eWallet is provided with the Multi-currency facility, which offers the possibility to keep funds in several currencies at the same time. Each separate currency is kept on the same-name eWallet pocket. Such eWallet pocket is a constituent element of the eWallet functionality. The eWallet deposit (the total deposit) is composed of all the currency pockets’ deposits.

 

4.4.      In order to use eWallet You must first register it by providing your details on www.kineticex.com (hereinafter – the “Website”), i.e. filling the Account Opening Form. As part of the signup process You will need to accept this Agreement and You must have legal capacity to accept the same. If You complete the process successfully, You will obtain the registration data for Your new eWallet. The detailed information will be sent to your registered e-mail and will be indicated on Your eWallet screen (My KINETICEX area) right after registration.

 

4.5.      Any newly registered eWallet has the “Not Verified” status. You may not initiate any transfer of funds until You provide Us with the documents and information needed to verify Your identity. This verification data accomplished with respective documents shall be used by us to meet Know-Your-Customer (KYC), the anti- money laundering (AML) and countering financing of terrorism (CFT) compliance requirements.

 

4.6.      Funds deposits, transfers received, transfers sent and fund withdrawals are displayed in Your online transactions history in the My KINETICEX area. Each transaction is given a transaction ID and shown in the transaction history. You should quote this transaction ID when communicating with us about a particular transaction. You should check Your eWallet balance and transaction history regularly. You should report any irregularities or clarify any questions you have as soon as possible by contacting Customer Service.

 

4.7.      Reports, statements, notices and any other communications will be transmitted to You electronically by posting to the eWallet (My KINETICEX area) or via registered e-mail to Your registered e-mail address. All communications so posted or sent shall be deemed transmitted by the Company when posted or sent and deemed delivered to You personally, whether actually received by You or not.

 

4.8.      You may block Your eWallet at any time by contacting Customer Service. When we receive a request to block the eWallet we may ask to provide us with additional verification documents to compare it with those we have already had in our databases. This is done for AML/CFT purposes.

 

4.9.      If Your eWallet holds a balance at the time of its blocking, You need to withdraw Your funds before we process with blocking. After the blocking is accomplished You will not be able to access Your eWallet but You may withdraw any remaining funds by contacting Customer Service and requesting that the funds are sent to You in a manner that is reasonably acceptable for us. We suggest that You withdraw Your remaining funds as soon as possible as they will not earn any interest while being deposited in Your eWallet. Your obligations with regards to keeping Your eWallet safe as set forth in this Agreement shall continue to apply.

 

4.10.    You can deposit funds by visiting the Website, logging into Your eWallet and following the relevant deposit instructions on the Website.

 

4.11.    When You register Your eWallet, it contains only one default currency pocket which is denominated in USD. You can add additional currency pockets (via) making a deposit. To do this, Your need to select (a) an add funds option, the deposit currency (that you have not used before), the correspondent currency pocket and (b) to fill the deposit form following the provided instructions on the Website. After Your deposit request is processed successfully, the funds will be transferred to Your eWallet. The new currency pocket will be added to Your eWallet and saved.

 

4.12.    You may be presented with a number of different deposit methods, depending on which payment instruments You choose and which payment methods are available in Your country of residence. All the currency pockets that You have added to the eWallet, will be offered to You for depositing while making a transfer. We do not guarantee the use of any particular deposit method made available, and may make changes to or discontinue the acceptance of any particular deposit method at any time. We shall not be responsible for the deposit payment until the deposited funds are received by us. You agree that we may use any third party provider in order to process the payments from/to You as we deem fit.

 

4.13.    To deposit the funds You should fill the respective form including among other:

 

  • Indicate the payment instruments and its payment details; and
  • Provide us with the details of the eWallet that we can use for identification. If You have no eWallet registered with us or have not specified its number, the transfer will not be processed; and
  • Choose the currency; and
  • Choose the amount You want to transfer; and
  • Enter Your eWallet PIN code.

 

4.14.    Depending on which deposit method and payment instrument is chosen You will need to provide other information or to complete other activities that we may reasonably require to ensure proper authorisation of a deposit transaction.

 

4.15.    If You choose a deposit method using a payment instrument that may be subject to chargeback rights or reversal, You declare that You will not exercise such chargeback right other than in case of unauthorised use of the payment instrument. We reserve the right to charge You all fees and expenses we incur in connection with such chargeback or reversal and any action undertaken to challenge the same, including without limitation to deduct the reversed amount from any of Your account or from the eWallet and block Your eWallet.

 

4.16.    If a chargeback or reversal of funds results in a negative balance in Your eWallet, You will be required to repay such negative balance by depositing sufficient funds into Your eWallet. Failure to do so is a breach

 

of this Agreement. Repayment of the negative balance is due immediately without notice. We reserve the right, at any time, to send You reminders or to take other debt collection measures . We reserve the right to charge You the expenses we reasonably incur in connection with any debt collection or enforcement efforts. We may also block Your eWallet.

 

4.17.    Deposited funds will be credited to Your eWallet after the funds have been received by us. Before we

receive the funds, the transaction is assigned with “Pending” status.

 

4.18.    You must not make a deposit through a bank or other payment institution if You are not the named holder of the account in such bank or payment institution.

 

4.19.    Deposits may be subject to deposit limits due to security and legal requirements of Payment service provider which process the payment instrument You have chosen (Payment service providers). These limits are set dynamically depending on the upload method You want to use. You can view these limits at the website of the relevant Payment service provider.

 

4.20.    Deposits may  be  subject  to  third  party Payment  service  provider’s  deposit  fees and  currency conversion fees depending on which deposit method and payment instrument is chosen. Such fee will be deducted from Your deposit and You will receive the sum equal to “deposit less fee” to Your eWallet.

 

4.21.    Using eWallet You can request the following transfers:

 

  • External transfer - to transfer funds from Your eWallet to another customer’s eWallet with us;
  • Mass External transfer - to make multiple transfers to other customers’ eWallets using one transferring form;
  • Internal transfers between Accounts held with Us and subscribed to the eWallet;
  • Internal transfers to the Accounts held with Us and subscribed to the eWallet;
  • Internal transfers from the Accounts held with Us and subscribed to the eWallet.

 

4.22.    To transfer the funds You are required to authorise the transfer with Your login details, Password and

PIN. We may also sent You an e-mail with a confirmation link.

 

4.23.    You can transfer funds from Your eWallet using different currencies. You can make a transfer without currency conversion if You use the currency of Your account. In case You use the currency different from the one of Your account, the sum You are transferring will be converted into Your account currency. The conversion rate will be shown to You while filling in the deposit form. You can check all the currency rates with the help of Tools/Currency rates history in the My KINETICEX area.

 

4.24.    To transfer the funds You must fill the respective transfer form, including among other:

 

  • provide us with the correct details of destination account that we can use for identification. If the details are not registered with us, the transfer will not be processed; and
  • Choose the currency; and
  • Indicate the amount You want to transfer; and
  •  Enter Your eWallet PIN code.

 

4.25.    As soon as You follow the confirmation link received from us, the transfer request will be put into the queue and processed within 48 hours. On this stage, we may request You t o provide additional information and supporting documents regarding the transfer.

 

4.26.    You may also cancel the transaction while it is assigned with the “pending” status, i.e. before the funds

have been credited to the destination account.

 

4.27.    You may transfer Your funds within Your eWallet from one currency pocket into another one, following instructions provided on the Website.

 

4.28.    The currency conversion is completed at the Currency Exchange rate specified on the Website. The currency conversion may be subject to the additional commission published by the Company on the Website or provided to the Customer prior to the conversion.

 

4.29.    You have the right to withdraw funds from Your eWallet at any time. However, You may be required to additionally verify Your identity beforehand. There is no minimum withdrawal amount but the funds on Your eWallet must be sufficient to cover any applicable withdrawal fee. You can choose the method of withdrawal prior to submitting withdrawal request.

 

4.30.    You can request a withdrawal of all or part of the funds held in all Your currency pockets in Your eWallet at any time by following the instructions specified on the Website.

 

4.31.    The withdrawal currency depends on the payment option that You choose. In case the currency of the withdrawal does not correspond the currency of the eWallet pocket, the funds will be converted at the indicated Currency Exchange rate.

 

4.32.    We do not guarantee the availability of any particular withdrawal method and may make changes to or discontinue a particular withdrawal method at any time as long as there is at lea st one withdrawal method available to You. Where the withdrawal payment is received by You through the involvement of an external payment service provider (such as the bank where you hold a bank account), we shall not be responsible for the withdrawal payment once the withdrawn funds are received by Your payment service provider.

 

4.33.    To withdraw the funds you are required to authorise the transfer with your login details, Password and

PIN. We may also sent You an e-mail with a confirmation link.

 

4.34.    To withdraw the funds Your should fill the respective form including among other:

 

  • Indicate the payment instruments and its payment details; and
  • Provide us with the correct details of the destination account that we can use for identification; and
  • Choose the currency; and
  • Indicate the amount You want to withdraw; and
  • Enter your eWallet PIN code.

 

4.35.    Depending on withdrawing method and payment instrument is chosen You will need to provide other information or to complete other activities that we may reasonably require to ensure proper authorisation of the withdrawing transaction.

 

4.36.    Due to our fraud protection measures the withdrawals to Your credit/debit card or Your bank account can be processed only after 30 days freeze period completion since your last credit/debit card deposit to Your eWallet. On your request the 30 days freeze period can be reduced in the Company’s sole discretion subject to the additional verification procedures applied to You.

 

4.37.    Withdrawals may be subject to other limits due to security and legal requirements of the third party payment service provider. Please contact your payment service provider for the limits applied to the transactions.

 

4.38.    If the funds sent (I) via wire transfer do not hit Your bank account during 10 business days, or (ii) if the funds sent via bank transfer are not deposited to Your eWallet within 10 business days, or (iii) If the funds sent by other than wire transfer method do not hit Your account within 5 trading days, or (iv) or if the funds sent by other than wire transfer method are not deposited to Your eWallet within 5 business days You shall have the right to request a banking investigation of the transfer.

 

4.39.    You shall understand that the banking investigation may entail commission charges that must be paid by You except the cases of the mistakes in withdrawals made by the personnel of the Company. The method of payment of commission charges shall be determined by the Company individually and may be done by both transfer of necessary amount to the Company’s account and withdrawal of necessary amount from Your

 

eWallet. You shall be ready to provide the Company with all necessary documents needed for investigation purposes.

 

4.40.    Withdrawals may be subject to third party payment service provider’s withdrawal fees and currency conversion fees depending on which withdrawal method and payment instrument is chosen. Such fee is deducted from Your withdrawal amount.

 

4.41.    You must not make a withdrawal to a bank account or to the account held with other payment institution if You are not the named holder of such an account. Violation of this requirement may be treated as a suspicion transaction in terms of our AML/CFT policy and resolved in compliance with the respective procedures

 

4.42.    You must ensure that the payment details You enter when withdrawing funds are correct and complete. We will not be liable for withdrawn funds being sent to the wrong payment institution where this is due to Your providing incorrect payment details.

 

4.43.    We reserve the right to carry out any necessary money laundering, terrorism financing, fraud or other illegal activity checks before authorising any withdrawal of Your funds. For these purposes we may request You to provide additional verification documents within the terms defined by us.

 

  1. 5. CASH ACCOUNT

 

5.1.      The Cash Account is an electronic facility, which enables You to use the Exchange Platform and related Asset Exchange Services.  The use of the expression "Exchange service" rather than the word "Exchange" is necessary to differentiate between operations carried out via regulated exchanges and using the technology as specified in this Agreement.

 

5.2.      Subject to the terms expressly stipulated below on the Cash Accounts the Company provides the Customer with an access to the Exchange Platform functionality, which is designed to make the Customer possible to exchange crypto currencies and fiat currencies (also referred to as the “Asset”) w ith another Company’s customers at the prices specified by the Company’s customers only. For the avoidance of doubt the Company does not issue cryptocurrency to its customers and does not deal as a counterparty in respect of exchange transactions with its customers; rather, the Company merely provides to its customers an access to the technological facility (the Exchange Platform) and related Asset Exchange Services to conveniently exchange their existing crypto currencies and fiat currencies with other customers.

 

5.3.      Your Cash Account will be used to store various Assets as deposited by You. In creating your Cash

Account, You may be asked to provide certain registration details or other information.

 

5.4.      Your Cash Account is provided with the Multi-currency facility, which offers the possibility to keep funds in several currencies (assets types) at the same time. Each separate currency is kept on the same-name Cash Account subaccounts (“Subaccount”). Such Subaccount forms a constituent element of the Cash Account functionality. The Cash Account deposit (the total deposit) is composed of all the Subaccounts’ deposits.

 

5.5.      In order to use the Cash Account functionality You must first register the eWallet by providing your details on the Website. As part of the signup process You will need to accept this Agreement including respective Cash Account Terms of Business and You must have legal capacity to accept the same. If You complete the process successfully, You will obtain the registration data for Your new Cash Account.

 

5.6.      After Your Cash Account has been funded, You may sell Your available Assets to the other Company’s

Customers, following instructions provided on the Website.

 

5.7.      Customers’  exchange  orders  are  executed  at  the  Exchange  Platform  by  a  technology  that automatically matches buy and sell orders of incoming prices generated by the Customers. Matching bids and offers to buy and sell Assets are automatically paired by the Exchange Platform. Once a match is made, the exchange order is executed and cleared instantaneously. The Company does not clear or hedge customers transactions with other financial institutions.

 

5.8.      You hereby agree and acknowledge that by issuing the exchange order You authorise the Company to automatically transfer the exchanged amounts once a match is made, i.e. to credit Your Cash Account with the Asset You sell and debit Your Cash Account with the Asset You buy. You will be notified that the exchange order has been executed. YOU SHOULD ONLY PLACE AN EXCHANGE ORDER IF YOU FULLY INTEND TO COMPLETE THE TRANSACTION.

 

5.9.      The total Subaccount amount is comprised of the available amount and locked amount. You may only sell as much Asset as is recorded in Your Subaccount and is not being locked. Any attempt by You to sell more Asset than the Company’s records show available and unlocked in Your Cash Account will result in an unsuccessful transaction and may be a ground for termination of this Agreement.

 

5.10.    The  Exchange  Platform  may  part-perform  an  exchange  order  made  by  You  and  You  hereby irrevocably acknowledge and agree that the Company shall be permitted to do so.

 

5.11.    Each exchange order issued on the Exchange Platform is irrevocable and binding on the Customer. Unless otherwise specified in this Agreement, the Company will not reverse an exchange order upon t he Customer`s request to the extent that it has been already filled. The Customer may delete, cancel or modify the exchange order until it is not matched with one or more other exchange orders as set out above.

 

5.12.    The Company shall at all times be entitled to operate on the basis that each exchange order is correct and does not contain any errors (including in the case of manifest errors).

 

5.13.    Each exchange order will be confirmed to the Customer using the Exchange Platform’s record-keeping functionality and can be viewed by the Customer using Terminal.

 

5.14.    The Company is not responsible for Asset exchange transactions carried out between the Customers. You hereby agree and acknowledge that You are bearing all risks associated with the Asset exchange transactions made through the Exchange Platform. The Company is not responsible for any disputes among or between the Customers regarding any transaction. The Company does not in any case guarantee that the buyer or the seller finds a suitable exchange offer to sell or to buy.

 

5.15.    The Company reserves the right to be able to verify the transactions of a Customer at any time in case of a suspicion of rigging the prices. Provided that it has been proven that such rigging actually occurred, the Company reserves the right to block the Customer’s Cash Account and bestow a financial fine on the Customer, whose extent will depend upon the level of the damage caused. For the purposes of this Agreement, rigging the prices is a situation, where the Customer or an organized group of Customers uses more accounts in parallel to reach for a better price with the purpose of enriching themselves.

 

5.16.    You can deposit funds by visiting the Website, logging into Cash Account and following the relevant deposit instructions on the Website.

 

5.17.    You can request a withdrawal of all or part of the funds held in Your Cash Account at any time by following the instructions specified on the Website.

 

5.18.    You may withdraw all or some of Your available and unlocked funds, provided that there are enough funds left on the Cash Account to support any current exchange orders (if any).

 

5.19.    Funds deposits, exchange transactions, transfers received, transfers sent and funds withdrawals are displayed in Your transactions history in the Exchange Platform Terminal. Each order is given an ID number, which is shown in the history. You should quote this order ID when communicating with us about a particular transaction. You should check Your Cash Account balance and transaction history regularly. You should report any irregularities or clarify any questions you have as soon as possible by contacting Customer Service.

 

  1. 6. MARGIN ACCOUNT

 

6.1.      The Margin Account is an electronic facility, which enables You to use the Exchange Platform to trade margined cryptocurrencies derivatives. The margined cryptocurrency derivative contract shall mean a leveraged transaction made via Exchange Platform for the purchase or sale of a financial instrument, which includes a cryptocurrency aimed on generating profit arising out of speculating activity or for hedging purposes, provided that such transaction does not give rise to an obligation relating to, or resulting in physical delivery of financial instrument and does not assume currencies conversion operations subject to physical delivery. For the removable of doubt upon settlement of the margined cryptocurrency derivative contract, the difference in value between the opening and closing positions will either be credited or debited to the Customer’s Margin Account according to the profit or loss for the transaction.

 

6.2.      We execute all Your trading orders on Margin Account subject to the available liquidity. We will provide execution through the available ECN/STP trading system, which functionality is available in the Exchange Platform, in accordance with the Margin Account Terms of Business, which form an integral part of this Agreement. We hold the multi-currency exposure as such corresponds to the Customer’s transactions.

 

6.3.      We make no guarantees that any Your order shall be executed with or without price gaps or executed at all. The ability to execute an order is dependent upon our ability to offset the trade at our clearing houses, at the Company’s sole discretion.

 

6.4.      You shall provide to, and maintain with us margin in amounts and in forms, as we, in our sole discretion, require. The Company may change margin requirements at any time. No previous margin requirement by the Company shall prevent the Company from increasing that requirement without prior notice. We retain the right to limit the amount and/or total number of open positions that Customer may acquire or maintain on Margin Accounts. It is the responsibility of the Customer to maintain the minimum Margin Level requirements to support all open positions without notice from the Company. The Customer hereby assumes that if he/she fails to comply with margin requirements, the Company in its sole discretion may liquidate any or all of open positions as per Stop out procedure. The Company is not obliged to make any warnings to the Customer prior to liquidating the position for insufficient margin. The Company shall not be responsible for any loss or damage caused, directly or indirectly, by any events, actions or omissions including but not limited to loss or damage resulting, directly or indirectly, from any delays or inaccuracies in the transmission of orders and/or information due to a breakdown in or failure of any transmission or communication facilities. For example, in volatile market conditions, margin calls may be delayed resulting in the possibility of a negative usable margin; a margin call may occur even if positions are hedged due to currency conversion rate or daily interest if appropriate.

 

6.5.      A position will be carried forward at the initial execution price until it is eventually c losed by the Customer or by the Company under the provisions of this Agreement. Consistent with our policy, a position that is carried forward may be credited or debited interest charges, as may be defined in the Margin Account Terms of Business and/or on the Website, until the position is closed if appropriate.

 

6.6.      All funds, securities, currencies, and other property of the Customer which the Company or its affiliates may at any time be carrying for the Customer (either individually, jointly with another, or as a guarantor of the account of any other person) which may at any time be in its possession or control or carried on its books for any purpose, including safekeeping, are to be held by the Company as security and is subject to a general lien and right to set-off for liabilities of the Customer to the Company whether or not the Company has made advances in connection with securities, commodities, currencies or other property, and irrespective of the number of Accounts Customer may have with the Company. The Customer hereby also grants to the Company the right to pledge, re-pledge, hypothecate, invest or loan, either separately or with the property of other Customers, to itself as broker or to others, any securities or other property of Customer held by the Company as margin or security. The Company shall at no time be required to deliver to the Customer the identical property delivered to or purchased by the Company for any account of Customer.

 

6.7.      The Customer authorizes the Company to rollover all Open Positions in the Customer's Margin Account, at the Customer's risk, into the next settlement time period upon such terms as the Company determines, in its sole discretion. The positions will be rolled over by debiting or crediting the Customer's

 

Margin Account with the amount calculated in accordance with the Company's Rollover/Interest Policy if appropriate.

 

6.8.      The Company has the right to annul and/or reverse any trades which are deemed untrue or opened at a fictitious price not existing on the market at the time of opening or are in breach with the subject of this Agreement as expressly stipulated above. Without limiting the foregoing, if the Company, in its reasonable discretion, determines that the Customer is engaging or has engaged in trading strategies or activities designed intentionally to exploit errors in price quotations and/or delay, disruption, failure or malfunction of any transmission or communication system or software, Exchange Platform the Company may upon notice to the Customer restrict or modify Customer’s access to price quotations, cancel trades, or terminate Customer’s access to the Exchange Platform.

 

  1. 7. REMUNERATION, OPERATIONAL PREMIUMS, EXPENSES AND COMMISSIONS

 

7.1.      The Company will charge commission on each exchange transaction initiated by the Customers on

Cash Accounts (“Exchange Fee”).

 

7.2.      The amount of the Exchange Fee and its payments terms are specified in the Cash Account Terms of Business and/or published on the Website. The amount of Exchange Fee may differ depending on the Your position (price-taker or price-giver) in transaction. The Company reserves the right to change, modify the amount of the Exchange Fee and its payment terms from time to time. Any such changes and modifications will be effective upon relevant update on the Website. If You do not agree to the posted changes and modifications You may block your Cash Account and terminate this Agreement as provided therein. Your first use of Your Cash Account following the posting of any changes or revisions to the terms of this Agreement or modified Transaction Fee as updated on the Website will constitute Your acceptance of all such changes or revisions.

 

7.3.      Exchange Fee will be deducted from the amount of Asset purchased by You from another Company’s customer. You hereby authorise the Company to charge or deduct your Cash Account for any applicable Exchange Fees owed in connection with transactions you complete via the Exchange Platform.

 

7.4.      Exchange Fees are paid by both the buyer and the seller in any given transaction. Subject to the prior notice to the Customer, the Company may charge the Cash Account of the Customer with the additional third party fees, arisen from the services provided by such third party.

 

7.5.      The Customer shall also pay any such charges (including, without limitation, commissions applicable to the eWallet and other Accounts, markups and markdowns, statement charges, idle account charges, order cancellation charges, account transfer charges or other charges), costs including litigation and independent dispute resolution costs, expenses and fees including attorneys' fees, arising directly or indirectly out of the Company Services under this Agreement including without limitation those associated with dispute resolution or any customer’s complaint filled with the Company, investigation of any kind included those provided by third parties, consultation with third parties conducted by the Company and requests for preparing by third parties of an official statement on the results of such comprehensive investigation or consultation handled.

 

7.6.      For the removable of doubts the Customer remains liable for all charges/costs/expenses/fees incurred by the Company regarding customer’s requests claims or complaints if such requests could not be comprehensively satisfied without involving of third parties.

 

7.7.    The Company may change its charges/costs/expenses/fees without prior notice. All such charges/costs/expenses/fees shall be paid by the Customer as they are incurred, or as the Company in its sole and absolute discretion may determine, and the Customer hereby authorizes the Company to withdraw the amount of any such charges/costs/expenses/fees from the Customer's Account(s).

 

  1. 8. THE COMPANY'S RIGHTS AND RESPONSIBILITIES

 

8.1.      The Customer acknowledges that the Company has the following rights:

 

8.1.1.  To reject, cancel, delete or adjust any exchange or trading order or transaction the Customer may place;

 

8.1.2.  To block Customer’s eWallet and/or any other Customer’s Account;

 

8.1.3.  To provide the eWallet and/or Cash and Margin Account with any transaction deemed necessary by the Company for the proper provision of Services under this Agreement;

 

8.1.4.  To restrict access to, impose limits on, suspend, stop or cancel use of the Exchange Platform (including, without limitation, discontinuing the Customer’s use of the API) either generally or of particular Assets, margined cryptocurrency derivatives, transactions or customers, or to discontinue transmission of any or all information;

 

8.1.5.  The Company may refuse to facilitate or proceed with any transactions or refuse access to the

Exchange Platform at the Company sole discretion, as a result of any of the following:

 

8.1.5.1.      Full of partial failure of the Exchange Platform, including failure of the technology or any of the communications linked to the Exchange Platform and the Customer and/or any of the Counterparties, or any other circumstance which is deemed impractical to use the Exchange Platform,

 

8.1.5.2.      A breach of security of the Exchange Platform,

 

8.1.5.3.      A material breach by the Customer of its obligations under this Agreement or any other agreement with the Company (including the Account Opening Documentation),

 

8.1.5.4.      Non-compliance by the Customer with any applicable laws,

 

8.1.5.5.      Market  conditions generally or  conditions affecting  a  particular  Asset,  derivative rendering it necessary or desirable (at the Company sole discretion),

 

8.1.5.6.      Absence of liquidity.

 

Any such actions taken by the Company in accordance with this Section, shall continue for such a time period as the Company reasonable determines it to be necessary.

 

8.2.      For the purposes of mitigating and managing the potential ML/TF risks faced by the Company and without derogating from the generality of the Company rights as expressly stipulated above, the Company reserves the right in its sole discretion to block any Customer’s Account and prohibit any activity including but not limited to withdrawals for the term of internal investigation but not less than 180 days providing that the Company has reasonable suspicious that the Customer’s activity (i) does not comply with Services provided by the Company and the subject of this Agreement, and/or (ii) is fraudulent, and/or (iii) is in breach with the law, present Agreement and the Company Anti-money laundering and Counter-Terrorism Policies.

 

8.3.      In order for the Company to show prices with the speed associated with speculative trading, the Company may have to rely on available price that may later prove to be incorrect. In such a case, the Company may cancel or adjust the trade on the Customer’s Margin Account, but shall do so within reasonable time and shall provide the Customer with a full explanation for actions taken.

 

8.4.      The Company shall have at its sole discretion, control over and the right to modify the functionality of the Company’s Exchange Platform’s including ECN/STP trading system’s price feeds, configurations and content, including but not limited to:

 

8.4.1.  The parameter and protocols, by which the trading orders are placed, routed, matched or otherwise processed by the Company’s Exchange Platform including ECN/STP trading system.

 

8.4.2.  The availability of the Company’s Exchange Platform including ECN/STP trading system with respect to particular financial instrument or transaction at any particular time or location.

 

8.5.      The Company reserves the right to deliver the Exchange Platform and to process exchange and trading orders in its sole and absolute discretion.

 

8.6.      In case of any dispute arisen the Company reserves the right to apply to third parties for advice and/or conducting respective investigation, expertise or analysis, including without limitation on a fee paid basis and the Company shall retain the right to recharge such costs to the Customer with respect to the provisions of this Agreement.

 

8.7.      The Company will make all possible endeavors to execute trading and exchange orders placed by the Customer. The Customer hereby understands that the Company is unable to guarantee the execution or the Customer’s orders or requests and that the Customer will not hold the Company liable for any failure in the execution process.

 

  1. 9. CUSTOMER REPRESENTATIONS, WARRANTIES AND AUTHORISATIONS

 

9.1.      The Customer represents and warrants that:

 

9.1.1.  the Customer is of sound mind, legal age and legal competence; and,

 

9.1.2.  no person other than the Customer has or will have an interest in the Customer's Accounts, and,

 

9.1.3.  the Customer hereby warrants that regardless of any subsequent determination to the contrary, the

Customer is suitable to enter into this Agreement, and,

 

9.1.4.  the Customer is not now an employee of any exchange, any corporation in which any exchange owns a majority of the capital stock, any member of any exchange and/or firm registered on any exchange, or any bank, trust, or insurance company, and in the event that the Customer becomes so employed, the Customer will promptly notify the Company via e-mail of such employment; and,

 

9.1.5.  all the information provided in the information portion of the Accounts opening process is true, correct and complete as of the date hereof and the Customer will notify the Company promptly of any changes in such information.

 

9.2.      The  Customer  hereby  confirms  and  acknowledges  his/her  express  consent  to  eliminate  the confidential nature of all communications regarding without limitation any disputes, legal proceeding, public statements between the parties hereto or its results including courts or other dispute resolution schemes decision on the matter. The Customer further agrees that the Company may disclose on its sole discretion the contents of such communication where and when the Company deems necessary.

 

9.3.      The Customer represents and warrants that it will immediately notify the Company about any detected error in the Exchange Platform including ECN/STP trading system, Accounts, My KINETICEX area or the Website functionality, affecting the  interests of the Customer and to cease all further actions with the functionality of systems, except for those actions that are aimed at preventing loss on the client. The Customer hereby confirms and acknowledges that the Customer will not use the system error in its own interest. Violation of these provisions will make the Company to execute its rights under the Customer’s indemnification responsibilities specified in this Agreement and may result in, among other things, termination or suspension of the Customer’s right to use the Services.

 

9.4.      In case of an unauthorised exchange/trading transaction or an exchange/trading transaction that was incorrectly executed due to an error by us, You shall bring the unauthorised or incorrectly executed transaction to our attention within 1 day from the date of the transaction. You shall remain solely liable for all losses arisen from the transaction specified above in case: the unauthorised transaction arises from Your failure to keep the

 

Accounts Credentials safe; and/or You fail to dispute and bring the unauthorised or incorrectly executed transaction to our attention within 1 day from the date of the transaction.

 

9.5.      The Customer represents and warrants that the financial information disclosed to the Company by opening the Accounts is an accurate representation of the Customer's current financial condition. The Customer represents and warrants that in determining the Customer's Net Worth, Assets and Liabilities were carefully calculated, Liabilities were subtracted from Assets to determine the value that the Customer has included in the financial information as Net Worth. The Customer represents and warrants that in determining the value of Assets, the Customer included cash and/or cash equivalents, Marketable securities, real estate owned (excluding primary residence), the cash value of life insurance and other valuable Assets. The Customer represents and warrants that in determining the value of Liabilities, the Customer includes notes payable to banks (secured and unsecured), notes payable to relatives, real estate mortgages payable (excluding primary residence) and other debts. The Customer represents and warrants that in determining the Customer's Liquid Assets the Customer included only those Assets which can be quickly (within one day's time) converted to Cash. The Customer represents and warrants that the Customer has very carefully considered the portion of the Customer's assets which the Customer considers to be Risk Capital. The Customer recognizes that the Risk Capital is the amount of money the Customer is willing to put at risk and if lost would not, in any way, change the Customer's lifestyle. The Customer agrees to immediately inform the Company if the Customer's financial condition changes in such a way to reduce the Customer's Net Worth, Liquid Assets and/or Risk Capital.

 

9.6.      The Customer authorizes the Company or agents acting on behalf of the Company to investigate the Customer's credit standing and in connection therewith to contact such banks, financial institutions and credit agencies as the Company shall deem appropriate to verify information regarding the Customer. The Customer further authorizes the Company to investigate the Customer's current and past investment activity, and in connection therewith, to contact such futures commission merchants, exchanges, broker/dealers, banks, and compliance data centers as the Company shall deem appropriate. Upon reasonable request made in writing by the Customer to the Company, the Customer shall be allowed to review any records maintained by the Company relating to the Customer's credit standing. The Customer shall also be allowed, at the Customer's sole cost and expense, to copy such records.

 

9.7.      The Customer acknowledges that it has no separate agreement with the Customer's broker or any Company’s employee or agent regarding to the transactions in the Customer's Accounts, including any agreement to guarantee profits or limit losses in the Customer's Accounts. The Customer understands that the Customer is under an obligation to notify Company's Compliance Officer immediately in writing as to any agreement of this type. Furthermore, the Customer understands that any representations made by anyone concerning the Customer's Accounts that differ from any statements the Customer receives from the Company must be brought to the attention of Company's Compliance Officer immediately in writing. The Customer understands that the Customer must authorize every transaction prior to its execution unless the Customer has delegated discretion to another party by signing Company's limited trading/exchanging authorization, and any disputed transactions must be brought to the attention of Company's Compliance Officer pursuant to the notice requirements of this Agreement. The Customer agrees to indemnify and hold the Company harmless from all damages or liability resulting from the Customer's failure to immediately notify our Compliance Officer of the occurrences referred to herein.

 

9.8.      If more than one natural person executes this Agreement as the Customer, all such natural persons agree to be jointly and severally liable for the obligations assumed in this Agreement. If this Agreement is executed by a trust, unincorporated association, partnership, custodian or other fiduciary, such Customer hereby agrees to indemnify, defend, save and hold free and harmless the Company for any liabilities, claims, losses, damages costs and expenses, including attorneys' fees, resulting directly or indirectly from breach of any fiduciary or similar duty or obligation or any allegation thereof, including attorneys' fees.

 

9.9.      The Customer acknowledges and agrees that a situation may arise whereby an officer, director, associate, employee, bank, bank employee, dealer or an affiliate company associated with the Company or

 

the Company by itself may be the opposing broker, counterparty for a trade entered by the Customer. The Customer hereby consents to any such transaction, subject to the limitations and conditions, if any, contained in the Rules or Regulations of any bank, institution, exchange or board of trade upon which such buy or sell orders are executed, and subject to the limitations and conditions, if any, contained in any applicable Regulations of any applicable regulatory agency.

 

9.10.    The Customer agrees to pay promptly to the Company all damages, costs and expenses, including attorney's fees, incurred by the Company in the enforcement of any of the provisions of this Agreement and any other agreements between the Company and the Customer. To the extent allowable by law, we reserve the right to set-off any damages or amounts owed to us by you for your breach of this Agreement or other obligations under this Agreement against funds in your eWallet or any other Account held with the Company.

 

  1. 10. NO FINANCIAL ADVICE

 

10.1.    The Company may in its sole and absolute discretion from time to time provide information to the

Customer on practical aspects of Asset exchange and derivatives trading.

 

10.2.    Notwithstanding any such information provided by the Company, the Customer acknowledges and agrees that it enters into each exchange or trading transaction of its own free will without reliance on any information provided by the Company and that such exchange or trading order is at its own risk. The Customer shall not be entitled to rely on the Company for advice on the timing or terms of any exchange or trading order.

 

10.3.    The Customer acknowledges and agrees that the exchange rates vary regularly and may be affected by matters and events outside of the control of the Customer and the Company.

 

  1. 11. KEEPING YOUR ACCOUNTS SAFE

 

11.1.    The registered e-mail address and the Password are used to enter My Kinetix area and have an access to Your eWallet. The PIN Code is required to confirm funds withdrawal from your eWallet and transfers to/from/between Accounts. You must record the PIN Code in a safe place. It will be shown ONLY ONCE and won’t be sent to Your registered email. You must take all reasonable steps to keep Your registered e-mail address, the password to the Accounts, the PIN Code, login to eWallet and telephone password used for communications with Us (collectively - Accounts Credentials) safe at all times and never disclose it to anyone.

 

11.2.    You must take all reasonable care to ensure that Your registered e-mail account as part of the Accounts Credentials is secure and only accessed by You, as Your registered e-mail address may be used to reset other Accounts Credentials or to communicate with You about the security of Your Accounts. In case the registered e-mail address registered with Your eWallet is compromised, You should without undue delay after becoming aware of this contact Customer Service and also contact Your registered e-mail service provider.

 

11.3.    In relation to the eWallet Credentials, the You hereby acknowledges and undertakes that:

 

  • You will be responsible for the confidentiality and use of Your Accounts Credentials;
  • other than with the Company’s prior written consent, You will not disclose Your Accounts Credentials to persons other than your authorized representatives for any purpose whatsoever;
  • We may rely on all instructions, orders and other communications entered using valid Accounts Credentials, and You will be bound by any transaction entered into or expense incurred on the Your behalf in reliance on such instructions, orders and other communications; and
  • You will immediately notify Us at our sales and/or customer support desk if You become aware of the loss, theft or disclosure to any third party or of any unauthorized use of Your Accounts Credentials.

 

11.4.    Our personnel will never ask You to provide Your Password or PIN to us or to a third party. Any message You receive or website You visit that asks for your Accounts Credentials, other than the Website,

 

should be reported to us. If You are in doubt whether a website is genuine, You should contact our Customer

Service. You must never allow anyone to access Your Accounts or watch You accessing Your Accounts.

 

11.5.   If you have any indication or suspicion that Your Accounts Credentials being lost, stolen, misappropriated, used without authorisation or otherwise compromised, You are strongly advised to change your Password. You must contact Customer Service without undue delay on becoming aware of any loss, theft, misappropriation or unauthorised use of Your Accounts Credentials. Regardless of Your notification You shall be liable for any losses as a result and You agree to indemnify and hold the Company, its affiliates, employees, agents,  successors and  assigns  harmless from  and against  any and  all liabilities,  losses, damages, costs and expenses, including attorney's fees, incurred by us arising out of Your failure to fully and timely perform the Your obligations herein or should any of the representations and warranties fail to be true and correct. You also agree to pay promptly to us all damages, costs and expenses, including attorney's fees, incurred by us arising out of Your failure to fully and timely perform the Your obligations herein.

 

11.6.    We may suspend Your eWallet and any of your Accounts or otherwise restrict its functionality on reasonable grounds relating to the security of the Accounts or any of Accounts Credentials or if we reasonably suspect that an unauthorised or fraudulent use of Your Accounts has occurred or that any of Accounts Credentials have been compromised. We will notify You of any suspension or restriction and of the reasons for such suspension or restriction in advance or, where we are unable to do so, immediately after the suspension or restriction has been imposed, unless notifying You would be unlawful or compromise our reasonable security interests. We will lift the suspension and/or the restriction as soon as practicable after the reasons for the suspension and/or restriction have ceased to exist. Further, if we believe that You supplied Your Accounts Credentials to other persons in breach of subparagraph above, then we may terminate this Agreement  immediately or take such other action as we may determine in its sole and absolute discretion

 

11.7.    You shall be solely responsible for providing and maintaining any equipment and software and for making all appropriate arrangements with any telecommunications suppliers or, where access to the Accounts is provided through a third party server, any such third party, necessary in order to obtain access to the Accounts. Neither we nor any company maintaining, operating, owning, licensing, or providing services to us in connection with the Accounts make any representation or warranty as to the suitability or otherwise of any such equipment, software or arrangements.

 

11.8.    Irrespective of whether You are using a public, a shared or Your own computer to access Your Accounts, You must always ensure that Your login details are not stored by the browser or cached or otherwise recorded. You should never use any functionality that allows login details or passwords to be stored by the computer You are using.

 

  1. 12. EXPERT ADVISORS

 

12.1.    Automated trading systems, or "Expert Advisors" allow trade operations to be carried out without the Customer's participation. Most types of Expert Advisors are generally allowed. The Customer agrees and acknowledges that the Company may in its sole discretion disable the Customer's ability to use Expert Advisors, without any prior notice. The Customer agrees and acknowledges that no claims will be accepted for any loss directly or indirectly resulting from the disabling of Expert Advisors use on the Customer's account. The Company may at its sole discretion, reinstate Expert Advisors privileges after an indefinite period of time

 

  1. 13. LIQUIDATION OF ACCOUNTS

 

13.1.    In the event of (a) the death or judicial declaration of incompetence by the Customer; (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against the Customer; (c) the filing of an attachment against any of the Customer's Accounts carried by the Company, (d) insufficient margin, or Company’s determination that any collateral

 

deposited to protect one or more Accounts of the Customer is inadequate, regardless of current market quotations, to secure the account; (e) the Customer's failure to provide  the Company any information requested pursuant to this Agreement; or (f) any other circumstances or developments that the Company may deem appropriate for its protection, in Company’s sole discretion, it may take one or more, or any portion of the following actions: (1) satisfy any obligation the Customer may have to the Company, either directly or by way of guarantee with any of the Customer's funds or property in its custody or control or in the custody or control of any Company's affiliate; (2) sell or purchase any or all Assets, derivatives, contracts, securities or other property held or carried for the Customer; (3) cancel any or all outstanding orders or contracts, or any other commitments made with the Customer. Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice to the Customer, the Customer's personal representatives, heirs, executors, administrators, trustees, legatees or assigns and regardless of whether the ownership interest shall be solely the Customer's or held jointly with others. In the liquidation of the Customer's positions, the Company may, in its sole discretion, offset in the same settlement or it may initiate new long or short positions in order to establish a spread or straddle which in Company’s sole judgment may be advisable to protect or reduce existing positions in the Customer's account. Any sales or purchases hereunder may be made according to the Company’s judgment and at its sole discretion.

 

  1. 14. RESTRICTED JURISDICTIONS

 

14.1.    The Company does not provide Services to the persons who reside  in Saint Vincent and the Grenadines or in the countries identified by the FATF as high risk and non-cooperative jurisdictions having strategic AML/CFT deficiencies.

 

14.2.   The Company does not provide Services to the persons reside in the USA, its territories or possessions.

 

14.3.    The Company does not accept transfers to/from the accounts held in the banks and/or other payments institutions incorporated in the USA, its territories or possessions or in the Countries identified by the FATF as high risk and non-cooperative jurisdictions. In case the Company knows or suspects or has reasonable grounds to know or suspect that the Customer became a resident of Saint Vincent and the Grenadines or in the  countries  identified  by the  FATF  as  high  risk  and  non-cooperative  jurisdictions  the  Company  will immediately close all outstanding positions and block the accounts in question. The same provisions apply to the Margin and Investments Accounts of the Customers in which respect the Company knows or suspects or has reasonable grounds to know or suspect that the Customer became a resident of the USA, its territories or possessions.

 

14.4.    By entering into this Agreement You declare that You as well as any other holder Your  Accounts including individuals and companies, trust, partnerships and their beneficial owners are not the resident s of Saint Vincent and the Grenadines or the United States of America, or the US Persons within the meaning of US Foreign Account Tax Compliance Act (FATCA). Should You and/or other holder of Your Account become an US Person within the period of holding an account with the Company You will immediately inform us about.

 

  1. 15. LIMITATION OF LIABILITY AND INDEMNIFICATION

 

15.1.    We (or our licensors, agents, suppliers, resellers, service providers, or any other subscribers or suppliers) in no event shall we be liable to You, or any other third party for any direct, special, indirect, incidental, consequential, exemplary, or punitive damages, including without limitation, damages for loss of profits, loss of business, loss of opportunity, loss of reputation loss of information, business interruption, revenue, or goodwill, which may arise from Your use of our Services and the Exchange Platform or any of the materials contained on the Website or for Your failure to understand the nature of cryptocurrencies, derivatives or the market for such currencies and its derivatives.

 

15.2.    Without prejudice to any other terms of this Agreement relating to the limitation of liability and provision of indemnities, the following shall apply in particular to provision of Services under this Agreement:

 

15.2.1. System errors: The Company shall have no liability to the Customer for any partial or non- performance of its obligations hereunder by reason of any cause beyond its reasonable control, for damage which the Customer may suffer as a result of malfunction or failure of transmission, communication or computer facilities, or any transmission errors, technical faults, malfunctions, illegal intervention in network equipment, network overloads, malicious blocking of access by third parties, internet malfunctions, interruptions, the failure by the relevant intermediate service provider or agent, agent or principal of its custodian, sub-custodian, dealer for any reason, to perform its obligations or other deficiencies on the part any internet Services provided by the Company. The Customer acknowledges that any Services may be limited or unavailable due to such system errors, and that the Company reserves the right upon notice to suspend access to any such Services for this reason.

 

15.2.2. Delays: Neither the Company nor any of its affiliates and/or third party providers and/or suppliers accept any liability in respect of any delays, inaccuracies, errors or omissions in any data provided to the Customer in connection with Accounts, Exchange Platform and related Services usage.

 

15.2.3. Viruses: The Company shall have no liability to the Customer (whether in contract or in tort, including negligence) in the event that any viruses, worms, software bombs or similar malicious code items are introduced into the Customer`s information system via the Accounts and/or Service provided by the  Company,  provided  that  the  Company  has taken  reasonable  steps to  prevent  any  such introduction.

 

15.2.4. Unauthorised use: The Company shall not be liable for any loss, liability or cost whatsoever arising from any unauthorised use of the Accounts, Exchange Platform and related Services. Without derogating from generality of indemnification provisions under the Agreement, the Customer shall indemnify, protect and hold the Company, its owners, subsidiaries, affiliates, employees, management and third party contractors harmless from and against all losses, liabilities, judgements, suits, actions, proceedings, claims, damages and costs resulting from or arising out of any act or omission by any person using the Accounts, Exchange Platform and related Services and/or any service using any designated Accounts Credentials or other authentication and/or access details provided by the Company to the Customer, whether or not the Customer actually authorized such use.

 

15.2.5. Markets: The Company shall not be liable for any act taken by or on the instruction of any relevant market or regulatory or self-regulatory body or failure by such regulatory or self-regulatory organisation, for any reason, their perform its obligations.

 

15.2.6. Third party service: In case any software and/or service of any third-party is used by the Company in the enforcement of any of the provisions of this Agreement, the Customer agrees to indemnify and hold harmless such a third party for any claims, actions or suits, as well as any related expenses, liabilities, damages, settlements, costs or fees arising from the Customer use or misuse of the third- party software and/or service as a part of the Company’s Services.

 

15.3.    We shall not be liable for any disruption or impairment of the Exchange Platform or the Service or for disruptions or impairments of intermediary services on which we rely for the performance of our obligations hereunder, provided that such disruption or impairment is due to abnormal and unforeseeable circumstances beyond our reasonable control or the control of the intermediary affected.

 

15.4.    The Company shall not be liable to the Customer for any claims, losses, damages, costs or expenses, lost opportunity to make transactions, including attorneys' fees, caused, directly or indirectly, by any events, actions or omissions, including, without limitation, claims, losses, damages, costs or expenses, including attorneys' fees, resulting from civil unrest, war, insurrection, international intervention, governmental action

 

(including, without limitation, exchange controls, forfeitures, nationalizations, devaluations), natural disasters, acts of God, market conditions, inability to communicate with any relevant person or any delay, disruption, failure or malfunction of any transmission or communication system or computer facility, whether belonging to the Company, the Customer, any market, or any settlement or clearing system.

 

15.5.    We shall not be liable for the assessment or payment of any taxes, duties or other charges that arise from the underlying transaction between You and another Company’s customer.

 

15.6.    The Company specifically excludes liability for any loss, harm, distress or damage suffered by You or any third party as a result of inaccurate information appearing on the Exchange Platform.

 

15.7.   The Customer agrees to defend, to indemnify and hold harmless the Company, its affiliates, employees, agents, successors, subsidiaries, assignees and each of their respective officers, directors, shareholders, members, partners, attorneys, employees, from and against any and all liabilities, losses, damages, costs and expenses, including attorney's fees, incurred by the Company, for all damages directly, indirectly, and/or consequentially resulting or allegedly resulting from or arising out of the Customer's failure to fully and timely perform the Customer's obligations herein or use, misuse, or inability to use the Exchange Platform, Services, or any of the materials contained therein, or the Customer’s breach of this Agreement or should any of the representations and warranties fail to be true and correct.

 

15.8.    To the maximum extent permitted by applicable laws, You also agree to defend and indemnify the Company should any third party be harmed by Your illegal actions or should we be obligated to defend any claims including, without limitation, any criminal action brought by any party.

 

15.9.    If any applicable authority holds any portion of this Section of the Agreement to be unenforceable, then liability will be limited to the fullest possible extent permitted by applicable law. This Section 16 of the Agreement shall survive termination of the relationship between You and us.

 

  1. 16. DISCLAIMER OF WARRANTIES

 

16.1.    EXCEPT AS EXPRESSLY PROVIDED TO THE CONTRARY IN A WRITING BY US, OUR SERVICES AND  EXCHANGE PLATFORM  ARE  PROVIDED  ON AN  "AS  IS"  AND  "AS AVAILABLE"  BASIS. WE EXPRESSLY DISCLAIM, AND YOU WAIVE, ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED OR STATUTORY, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT AS TO OUR SERVICES, EXCHANGE PLATFORM, THE INFORMATION, CONTENT AND MATERIALS CONTAINED THEREIN. We make no representations or warranties that the Exchange Platform and Services, or any materials contained therein, will be uninterrupted, timely, secure, or error free; nor do we make any representations or warranties as to the quality, suitability, truth, usefulness, accuracy, or completeness of the Exchange Platform and Services or any of the materials contained therein.

 

16.2.   YOU ACKNOWLEDGE THAT INFORMATION YOU STORE OR TRANSFER THROUGH OUR EXCHANGE PLATFORM OR SERVICES MAY BECOME IRRETRIEVABLY LOST OR CORRUPTED OR TEMPORARILY UNAVAILABLE DUE TO A VARIETY OF CAUSES, INCLUDING SOFTWARE FAILURES, PROTOCOL CHANGES BY THIRD PARTY PROVIDERS, INTERNET OUTAGES, FORCE MAJEURE EVENT OR OTHER DISASTERS INCLUDING THIRD PARTY DDOS ATTACKS, SCHEDULED OR UNSCHEDULED MAINTENANCE, OR OTHER CAUSES EITHER WITHIN OR OUTSIDE OUR CONTROL. YOU ARE SOLELY RESPONSIBLE FOR BACKING UP AND MAINTAINING DUPLICATE COPIES OF ANY INFORMATION YOU STORE OR TRANSFER THROUGH OUR SERVICES.

 

16.3.    You understand that we cannot and do not guarantee or warrant that files available for downloading from the Internet will be free of viruses, worms, Trojan horses, or other code that may manifest contaminating or destructive properties. We do not assume any responsibility or risk for Your use of the Internet.

 

16.4.    We make no warranty regarding any exchange transaction entered into through the Exchange Platform, or Services, and we are not responsible for any use of confidential or private information by the Customer or third parties. We are NOT responsible for the market, and we make no representations or warranties concerning the value of crypto or fiat currency of any kind.

 

  1. 17. SERVICE PROVIDERS

 

17.1.    The Customer do  hereby agree and acknowledge that the technological facility (the Exchange Platform), the Website and related software and Services may be provided by the external third party licensors. The Company does not bare any responsibility, whether expressed or implied or statutory, in respect of non- infringement as to the technological facility (the Exchange Platform), the Website, and related software and Services provide by external third party licensors. We make no representations or warranties that the technological  facility (the Exchange  Platform), the Website, and related  software and  Services will be uninterrupted, timely, secure, or error free; nor do we make any representations or warranties as to the quality, suitability, truth, usefulness, accuracy, or completeness of the said as additionally specified by us.

 

17.2.    The Customer hereby agrees and acknowledges that the functionality of the Exchange Platform, its configurations and content may be modified by the external third party licensors, including but not limited to:

 

17.2.1. The parameter and protocols, by which the orders are placed, routed, matched or otherwise processed by the Exchange Platform,

 

17.2.2. The availability of the Exchange Platform with respect to particular Asset, derivative or transaction at any particular time or location.

 

  1. 18. COMMUNICATIONS, STATEMENTS AND CONFIRMATION

 

18.1.    Reports, statements, notices and any other communications will be transmitted to the Customer electronically by posting to the Customer's Exchange Platform terminal or to the Customer’s My KINETICEX area available through the Website, or via e-mail to the registered e-mail address. All communications so posted or sent shall be deemed transmitted by the Company when posted or sent and deemed delivered to the Customer personally, whether actually received by the Customer or not.

 

18.2.    Reports of the confirmation of orders and statements of Accounts for the Customer shall be deemed correct and shall be conclusive and binding upon the Customer, if not objected to immediately upon receipt and confirmed in writing, within (1) day after electronic transmittal to the Customer. Instead of sending exchange confirmations via postal mail, the Company will provide the Customer with an access to view the Customer's Accounts at any time via the Internet.

 

18.3.    The Customer agrees and acknowledges that all conversations regarding the Customer's Accounts between the Customer and the Company personnel may be electronically recorded with or without the use of an automatic tone-warning device. The Customer further agrees to the use of such recordings and transcripts thereof as evidence by either party in connection with any dispute or proceeding that may arise involving the Customer or the Company. The Customer understands that the Company destroys such recordings on regular intervals  in accordance with the Company established  business procedures and the Customer  hereby consents to such destruction.

 

  1. 19. COMPLAINTS

 

19.1.    If any conflict situation arises when the Customer reasonably believes that the Company, as a result of any action or failure to act, breaches one or more terms of this Agreement, the Customer has the right to file a complaint with the Company within one day after the grievance has arisen.

 

  1. 20. REFUNDS

 

20.1.    Due to the nature of our business no refunds are provided by the Company. The only exception is made if You are not the Customer of the Company, i.e. you do not hold a verified eWallet with the Company. In this case the Company will refund any money received from You using the same method originally used by you.

 

20.2.    Without derogating from the provisions above, it is expressly stipulated that You are free to use a withdrawal procedure to get funds from your eWallet. The ways of withdrawal provided by the Compa ny and the withdrawal procedure are disclosed on our Website.

 

  1. 21. PRIVACY

 

21.1.    The processing of Your data is governed by our Privacy Policy which is disclosed to You in this Section and published on our Website.

 

21.2.    Collection of personal information. We collect information required to open Accounts, transact business effectively and to safeguard Your assets and Your privacy. To do this, we gather information to help us assess Your needs and preferences.

 

21.3.    The information we collect directly from You includes information required to communicate with you, including your name, mailing address, telephone number, e-mail address. We also collect birth date and your location information.

 

21.4.    Usage of personal information. We only use personal information as appropriate to provide You with a high quality of service and security. For example, we may use the information collected from You to verify Your identity and contact information. We may also use this information to establish and set up Your Accounts, issue an account number and a secure password, maintain Your Accounts activity, and contact You with Accounts information. This information helps us improve our Services and inform You about new products, Services or promotions that may be of interest to You.

 

21.5.    Our affiliates and partners. We may share information with affiliates if the information is required to provide the product or service You have requested, or to provide You with the opportunity to participate in the products or services our affiliates offer. We may also forge partnerships and alliances, which may include joint marketing agreements, with other companies who offer high-quality products and services that might be of value to our Customers. In order to ensure that these products and services meet Your needs and are delivered in a manner that is useful and relevant, we may share some information with partners, affiliates and alliances. This allows them to better understand the offers that are most relevant and useful to yourself. The use of Your personal information is limited to the purposes identified in our relationship with the partner or affiliate.

 

21.6.    Non-affiliated third parties. We do not sell, license, lease or otherwise disclose Your personal information to any third party for any reason, except as described below.

 

21.7.    We reserve the right to disclose Your personal information to third parties when required to do so by law to regulatory, law enforcement or other government authorities. We may also disclose Your information as necessary to credit reporting or collection agencies. We may also disclose Your information to non-affiliated third parties if it is necessary to protect the Company's rights or property.

 

21.8.    To help us improve our Services to You, we may engage another business to help us to carry out certain internal functions such as account processing, fulfillment, client service, client satisfaction surveys or

 

other data collection activities relevant to our business. We may also provide a party with Customer information from our database to help us to analyze and identify Customer needs and notify Customers of product and service offerings. Use of the shared information is strictly limited to the performance of the task we request and for no other purpose. All third parties with which we share personal informat ion are required to protect personal information in a manner similar to the way we protect personal information.

 

21.9.    Restriction of responsibility. If at any time You choose to purchase a product or service offered by another company, any personal information You share with that company will no longer be controlled under our Privacy Statement. We are not responsible for the privacy policies or the content of sites we link to and have no control of the use or protection of information provided by You or collected by those sites. Whenever you elect to link to a co-branded Website or to a linked Website, You may be asked to provide registration or other information. Please note that the information You are providing is going to a third party, and You should familiarize yourself with the privacy policy provided by that third party.

 

21.10.  Opting out of disclosure of non-public personal information. You may direct us not to disclose non-public personal information to certain non-affiliated third parties. To opt out of sharing non-public personal information with non-affiliated third parties, please contact a client service representative. An opt-out election made by one account owner of a joint account is applicable to all account owners of the joint account. An opt- out election must be made for each separate Account You hold with us.

 

21.11.  Use of cookies. We use cookies to assist us in securing Your trading activities and to enhance the performance of our Website. (Cookies are small text files sent from the Webserver to your computer.) Cookies used by us do not contain any personal information, nor do they contain account or password information. They merely allow the site to recognize that a page request comes from someone who has already logged on.

 

21.12.  We may share Website usage information about visitors to the Website with reputable advertising companies for targeting our Internet banner advertisements on this site and other sites. For this purpose, pixel tags (also called clear gifs or web beacons) may be used to note the pages You've visited. The information collected by the advertising company through the use of these pixel tags is not personally identifiable.

 

21.13.  To administer and improve our Website, we may use a third party to track and analyze usage and statistical volume information including page requests, form requests, and click paths. The third party may use cookies to track behavior and may set cookies on behalf of us. These cookies do not contain any personally identifiable information.

 

21.14.  Communications. Unless otherwise indicated for a particular service, any communications or material of any kind that You e-mail or otherwise transmit through the services, including information, data, questions, comments or suggestions will be treated as non-proprietary and non-confidential.

 

21.15.  By accepting this Agreement You agree for us to us to use your Communications in any way we think fit, either on the website or elsewhere, with no liability or obligation to You. We are free to use any idea, concept, know-how or technique or information contained in your Communications for any purpose including, but not limited to, developing and marketing products.

 

21.16.  We are entitled, but not obligated, to review or retain Your Communications.

 

21.17.  We may monitor your Communications to evaluate the quality of service You receive, Your compliance with this Agreement, the security of the Website, or for other reasons. You agree that such monitoring activities will not entitle You to any cause of action or other right with respect to the manner in which we monitor your Communications. In no event will we be liable for any costs, damages, expenses or any other liabilities incurred by You as a result of our monitoring activities.

 

  1. 22. GOVERNING LAW AND JURISDICTION

 

22.1.    This Agreement, and the rights and obligations of the parties hereto, shall be governed by and

enforced in all respects by the laws of the Company’s jurisdiction, without regard to choice of law principles.

 

22.2.    The Customer agrees that any civil action, arbitration or other legal proceeding between the Company or its employees or agents, and the Customer arising out of or relating to this Agreement or the Customer's Accounts shall be brought, heard and resolved only by a court located in Company’s jurisdiction and the Customer hereby waives trial by jury in any such action or proceeding and waives the right to have such proceeding transferred to any other location. No action, regardless of form, arising out of or relating to this Agreement or transactions hereunder may be brought by the Customer more than one year after the cause of action arose.

 

  1. 23. BINDING EFFECT

 

23.1.    This Agreement includes Cash Account Terms of Business and Margin Account Terms of Business forming an integral part of this Agreement, and shall be continuous and shall cover, individually and collectively, all relationships in respect to the Services and Accounts of the Customer at any time opened or reopened with the Company irrespective of any change or changes at any time in the personnel of the Company or its successors, assigns, or affiliates. This Agreement shall inure to the benefit of the Company and its successors and assigns, whether by merger, consolidation or otherwise, and shall be binding upon the Customer and/or the estate, executor, trustees, administrators, legal representatives, successors and assigns of the Customer. The Customer hereby ratifies all transactions with the Company prior to the date of this Agreement, and agrees that the rights and obligations of Customer in respect thereto shall be governed by the terms of this Agreement.

 

  1. 24. AMENDMENTS

 

24.1.    No provision of this Agreement may be waived or amended unless the waiver or amendment is in writing and accepted by both the Customer and the Company. No waiver or amendment of this Agreement may be implied from any course of dealing between the parties or from any failure by the Company or its agents to assert its rights under this Agreement on any occasion or series of occasions. No oral agreements or instructions to the contrary shall be recognized or enforceable.

 

24.2.    The Customer understands, acknowledges and agrees that the Company may amend or change this Agreement at any time. The Company will provide a Notice to the Customer of any such amendment or change by posting the amendment or change to the Website or by sending an email message to the registered e-mail of the Customer, or by providing a notice to the Customer’s Exchange Platform terminal or the Customer’s My KINETICEX area available through the Website. The Customer agrees to be bound by the terms of such amendment or change on the earlier of:

 

24.2.1. 5 (five) Business Days after the Company has posted or sent a notice of such amendment as specified above; or

 

24.2.2. on the date of the entry of any transaction on the Exchange Platform.

 

24.3.    If You object to the changes, they will not apply to You, however, any such objection shall constitute a notice by You to terminate this Agreement and block Your Accounts. Your Accounts will be blocked in accordance with the respective provisions of this Agreement.

 

  1. 25. TERMINATION

 

25.1.    This Agreement shall continue in effect until termination, and may be terminated by the Customer at any time considering the Customer has no liabilities held by or owed to the Company upon the actual receipt

 

by the Company of written notice of termination via registered e-mail, or at any time whatsoever by the Company upon the transmittal of a notice of termination to the Customer via registered e-mail or to the Customers My KINETICEX area available through the Website; provided, that such termination shall not affect any transactions previously entered into and shall not relieve either party of any obligations set out in this Agreement nor shall it relieve the Customer of any obligations arising out of prior transactions entered into in connection with this Agreement.

 

25.2.    We may at any time suspend or terminate this Agreement or any of Your Accounts without notice in case:

 

25.2.1. You breach any condition of this Agreement and/or respective Terms of Business;

 

25.2.2. You violate or we have reason to believe that You are in violation of any law or regulation that is applicable to Your use of our Services; or

 

25.2.3. we have reason to believe that You are in any way involved in any fraudulent activity, money laundering, terrorism financing or other criminal activity.

 

25.3.    We may suspend your Accounts any time if:

 

25.3.1. we reasonably believe Your Accounts has been compromised or for other security reasons; or

 

25.3.2. we reasonably suspect Your Accounts have been used or is being used without Your authorisation or fraudulently; and we shall notify You either prior to the suspension or, if prior notification is not possible under the circumstances, promptly after the suspension unless we are prohibited by law to notify You.

 

  1. 26. TERMS AND HEADINGS

 

26.1.    The paragraph headings in this Agreement are inserted for convenience of reference only and are not deemed to limit the applicability or affect the meaning of any of its provisions.

 

THIS IS A LEGALLY BINDING CONTRACT. YOU HAVE TO CAREFULLY READ ALL OF THE FOREGOING COMPLETELY AND COMPLETE THE CUSTOMER APPLICATION TO OPEN AN ACCOUNT WITH US.

 

Your consent acknowledges that You have carefully read, in its entirety, and understood this Agreement, and that You agree to all of the provisions contained therein. Your consent further represents, warrants and certifies that the information provided by you in the Customer Application process to open an Account is correct and complete.