CEZEX TRADING LIMITED
Terms And Conditions
Please read this document carefully. It details the services which we will provide and it sets out the obligations and rights applying between you and CEZEX Trading Limited. If there is anything in this document which you do not understand or with which you do not agree, do not use our Services.
The products available for trading at CEZEX are complex products and are not suitable for all investors. When trading products on CEZEX, you should not use money that you cannot afford to lose, however you cannot lose more than the equity in your account. You should only consider trading products on CEZEX if you: have extensive experience of trading in volatile markets; fully understand how the products work, including all associated risks and costs; are aware that the use of margin or leverage creates greater risks; understand that there are situations where we will be able to close out your transactions without giving you notice; have sufficient time to manage your transactions on an active basis. More detailed risk warnings are set out below. You, as the client, are required to read and understand the General Risk Disclosure which also forms part of these Terms and Conditions.
These terms and conditions as amended from time to time, including any of its appendixes as shall be updated and added from time to time, such as (but not limited to) Addendum to Terms and Conditions for Securities and Addendum to Terms and Conditions for Cryptocurrencies Trading (the "Terms and Conditions") are made between you and CEZEX Trading Limited (referred to herein as "Us", "We" or "CEZEX"). CEZEX Trading Limited is a limited liability company incorporated in British Virgin Islands with registered number 1997586 whose registered office is at CCP Financial Consultants, 2nd Floor, Ellen L. Skelton Building, Fishers Lane, Road Town, Tortola, British Islands and its Philippines office at 29F No 312 4th Avenue Corner 30th Avenue Street, Taguig, Manila, Philippines. CEZEX Trading Limited is authorized and regulated in the Cagayan Special Economic Zone and Free Port by the Cagayan Economic Zone Authority ("CEZA") and the Asia Blockchain And Cryptocurrency Association ("ABACA") under a license No. 13-01-2018. As of the time You fund your account, You shall become a customer of CEZEX Trading Limited and shall benefit from the protections extended by CEZEX to clients and accordingly these Terms and Conditions between you and CEZEX Trading Limited shall become effective.
Use of the Services is subject to these Terms and Conditions. If you have any objections to the Terms and Conditions, do not use our Services. Your access to and use of the Services constitutes your acceptance of the Terms and Conditions and any other legal notices and statements contained on this website. Your use of the Services is governed by the version of the Terms and Conditions in effect on the date each Service is used by you. You are responsible for checking this page on our website/applications periodically in order to review the current version of the Terms and Conditions. Please feel free to contact our legal team at [email protected] for any clarifications before you use or continue to use any Service.
We are proud to provide You with the ability to interact, follow and copy other traders, strategies and/or portfolios by using information and/or social trading features made available on our websites and/or trading platforms. Such social trading features include but are not limited to our community, "follow", "copy" and/or "followtradee" traders, portfolios and/or strategies, rankings, "featured users" and/or any advanced search options etc. (collectively, "Social Trading Features"). Certain accounts, portfolios and/or strategies available and able to be copied on our Websites/applications are portfolios managed by CEZEX either manually or by using certain algorithms. Such portfolios shall be specifically identified as such and shall be referred to as the "CEZEX Portfolios".
When using our Copying services, We will provide you with investment management services. This means that transactions will be automatically opened in your Account on your behalf with respect to the amount copying such portfolio once initiated by the copied account, portfolio and/or strategy. The opening of such transactions shall not require any prior consultation, consent or approval. While we are permitted under our licenses to provide investment advice services, We do not provide investment advice, nor provide any personalized investment recommendations and/or advise You on the merits of any investments, either with respect to our Copying services or any Service. We may elect to make investment advice services available, in our sole discretion. For more details with respect to our powers and responsibilities see Section 1.1.3 below.
CEZEX DOES NOT ACCEPT ANY USERS WHO ARE CITIZENS OF, OR USERS RESIDING IN ANY OF THE FOLLOWING COUNTRIES: AFGHANISTAN; BURMA; CENTRAL AFRICAN REPUBLIC; COTE D'IVOIRE; CUBA; DEMOCRATIC REPUBLIC OF THE CONGO; DEMOCRATIC PEOPLE'S REPUBLIC OF KOREA; IRAN; ISIL AND AL-QAIDA; SYRIA; MALI, SOMALIA, SOUTH SUDAN AND YEMEN. IF YOU ARE TRAVELLING TO ANY OF THESE COUNTRIES, YOU ACKNOWLEDGE THAT OUR SERVICES MAY BE UNAVAILABLE AND/OR BLOCKED IN SUCH COUNTRIES.
CEZEX DOES NOT ACCEPT ANY USERS WHO ARE NAMED IN THE SPECIALLY DESIGNATED NATIONALS LIST (SDN LIST) OF THE OFFICE OF FOREIGN ASSETS CONTROL (OFAC) OF THE UNITED STATES DEPARTMENT OF TREASURY AND USERS THAT ARE NAMED TARGETED FOR FINANCIAL SANCTIONS OF THE UNITED NATIONS SANCTIONS ORDINANCE AND UNITED NATIONS SECURITY COUNCIL SANCTIONS COMMITTEE AND HM TREASURY IN THE UNITED KINGDOM.
CEZEX DOES NOT ACCEPT ANY USERS WHO ARE FUNDING THEIR ACCOUNTS FROM AND RESIDING IN ANY OF THE FOLLOWING COUNTRIES WHEN DEALING WITH FIAT CURRENCIES UNLESS IS THOUGH A LICENSED BROKER DEALER: ALGERIA, ANGOLA, ARMENIA, BAHAMAS, CAMEROON, PEOPLE'S REPUBLIC OF CHINA, ETHIOPIA, GHANA, INDIA, LIBYA, MOROCCO, MYANMAR, MOZAMBIQUE, NAMIBIA, NEPAL, NIGERIA, RUSSIA, SAMOA, SOUTH KOREA, SOUTH AFRICA, SUDAN, TUNISIA, UKRAINE, UNITED STATES OF AMERICA, UZBEKISTAN, VENEZUELA AND ZIMBABWE. IF YOU ARE TRAVELLING TO ANY OF THESE COUNTRIES, YOU ACKNOWLEDGE THAT OUR SERVICES MAY BE UNAVAILABLE AND/OR BLOCKED IN SUCH COUNTRIES OR CERTAIN FUNCTIONALITY NOT AVAILABLE.
CEZEX DOES NOT ACCEPT ANY USERS WHO ARE RESIDING IN ANY OF THE FOLLOWING COUNTRIES UNLESS IS THOUGH A LICENSED BROKER DEALER: THAILAND, MALAYSIA, JAPAN, BRAZIL, AND UNITED STATES OF AMERICA. IF YOU ARE TRAVELLING TO ANY OF THESE COUNTRIES, YOU ACKNOWLEDGE THAT OUR SERVICES MAY BE UNAVAILABLE AND/OR BLOCKED IN SUCH COUNTRIES OR CERTAIN FUNCTIONALITY NOT AVAILABLE.
CEZEX RESERVES THE RIGHT TO IMPOSE ADDITIONAL REQUIREMENTS OR CONDITIONS BEFORE ACCEPTING USERS RESIDING IN OR FROM SPECIFIC COUNTRIES IN ITS SOLE DISCRETION.
NOTWITHSTANDING ANYTHING TO THE CONTRARY IN THESE TERMS AND CONDITIONS, FRENCH RESIDENTS SHALL BE ELIGIBLE TO AN INTRINSIC PROTECTION. ACCORDINGLY AND INDEPENDENTLY OF THE MARKET VOLATILITY, THEIR MAXIMUM LOSS WITH RESPECT TO EACH TRANSACTION SHALL BE THE TOTAL AMOUNT INVESTED IN SUCH TRANSACTION, AS UPDATED BY SUCH USER FROM TIME TO TIME.
Electronic Signatures and Agreement(s): You acknowledge and agree that by clicking the 'I agree' button or similar buttons or links as may be designated by CEZEX to show Your approval of any foregoing texts, the use of the Services (as defined below), You are entering into a legally binding contract. You hereby agree to the use of electronic communication in order to enter into contracts, place orders and other records and to the electronic delivery of notices, policies and records of transactions initiated or completed through our websites and platforms. Furthermore, You hereby waive any rights or requirements under any laws or regulations in any jurisdiction which require an original (non-electronic) signature or delivery or retention of non-electronic records, to the extent permitted under applicable mandatory law.
These Terms and Conditions describes to You in full detail the terms and conditions which You must accept without restrictions or objections before using our Services. Before You use our Services and before You become a customer of CEZEX, You must fully understand and agree to all the terms and conditions expressly explained and/or implied hereto by reference. Notwithstanding anything to the contrary, by continuing to use our Services You are implying that You have read these Terms and Conditions and have unconditionally accepted without reservation the Terms and Conditions in their entirety.
1. SERVICES, REGISTRATION & ACCOUNTS
These Terms and Conditions were published on and last updated on December 2, 2018. You should print a copy of these Terms and Conditions for your references.
- 1.1. Scope of Services
- 1.1.2 The Services are offered in relation to:
- 18.104.22.168 Transactions in digital/virtual assets (“Cryptocurrencies”);
- 22.214.171.124 Transactions in asset-backed security tokens/ security digital assets (“Securities”); and
- 126.96.36.199 Transactions in contracts for differences where the underlying assets include foreign currency, shares, Exchange-Traded Funds (ETFs), indices, commodities and virtual assets (collectively (“Derivatives”); and
- 188.8.131.52 Transactions of acquiring the underlying asset as may be available in the Trading Platform from time to time in accordance with Addendum to Terms and Conditions for Securities Trading and Addendum to Terms and Conditions for Cryptocurrencies Trading as the case may be.
We reserve the right to modify, suspend or discontinue, temporarily or permanently, all or any part of our Services with or without notice. You agree that we will not be liable to you or to any third party (for whom you may be acting) for any modification, suspension or discontinuance of all or any part of our Services.
- 1.1.3 Social Trading Features and FollowTrading Services.
- 184.108.40.206 Our Social Trading Features Services assists You in testing, evaluating and selecting your investment strategy by providing You with detailed account information, trading history, risk profile and other pertinent information You should consider before electing to copy a specific account. In doing so, You should bear in mind all aspects and factors including, but not limited to, the risk nature of the copied account and Your investment objectives.
- 220.127.116.11 When using our FollowTrading services, you are agreeing to use investment management service of CEZEX. Before you can engage in FollowTrading, We will assess what trading strategies are suitable for you and under what conditions (the "Suitability Assessment") and establish your investment profile on that basis.
- 18.104.22.168 We will update the Suitability Assessment from time to time. You confirm and acknowledge that our assessment of your use of our FollowTrading services is performed on the basis of the information and documents provided by you, and you confirm the truthfulness, correctness and completeness of such information. You acknowledge that we may rely upon such information and that you are responsible for any damages or losses which may result from any inaccuracies. You can revisit your suitability questionnaire at any time and evaluate whether there has been a change to your experience, trading objectives and/or financial situation.
- 22.214.171.124 We will be responsible to you for the provision of the Suitability Assessment and the FollowTrading Services. However, if you have any comments, questions or complaints in relation to those services please address them to us in accordance with Section 9 and we will ensure that they are dealt with. You do not have to pay Us a fee, and We will not receive remuneration from You for its services. The only charges you will pay are those payable to us in accordance with these terms and conditions.
- 126.96.36.199 We will be responsible to you for:
- informing you from time to time of the details of your Suitability Assessment and Investment Profile; and
- executing all instructions generated by the FollowTrading Services and reporting to you on the resulting transactions via our Websites.
While we are permitted under our licenses to provide investment advice services, We do not provide investment advice, nor provide any personalized investment recommendations and/or advise You on the merits of any investments, either with respect to our FollowTrading services or any Service. We may elect to make investment advice services available in our sole discretion.
- 188.8.131.52 In making a decision to Copy a specific trader or traders, strategy and/or portfolio, You have considered your entire financial situation including financial commitments and you understand that using Social Trading Features is highly speculative and that you could sustain significant losses exceeding the amount used to copy a trader or traders, however you cannot lose more than the equity in your account as stated in these Terms and Conditions. Please note that we are unable to provide any guarantee as to the performance of any particular investment, account, portfolio or strategy. For further information in connection with the risks associated with our Service please continue to read below.
- 184.108.40.206 Without derogating from the generality of the foregoing, You have reviewed and acknowledge the Risks Associated with Social Trading Features and particularly FollowTrading Services, as more fully described herein, including but not limited to, automated trading execution whereby the opening and closing of trades will happen in your account without your manual intervention.
- 220.127.116.11 You hereby authorize CEZEX to limit and/or withhold our FollowTrading services based on your investment profile and CEZEX’s ongoing suitability assessments in accordance with its policies and procedures.
- 18.104.22.168 You further authorize CEZEX to execute any and all transactions and/or positions undertaken by the trader, account, portfolio and/or strategy you chose to FollowTrade, including without limitation, FollowTrading, stop FollowTrading and/or pause FollowTrading another trader, account, portfolio and/or strategy and setting limits to any position (including copy position). These actions are done automatically once initiated by you and do not require any prior consultation, consent or approval of ongoing activity/copied trades. You hereby confirm that you acknowledge that at any time, upon your sole discretion, you can stop, pause, restrict and/or limit any FollowTrading activity performed by you via our Websites. You remain, at all times, solely responsible for both monitoring and selecting and assessing: (a) the suitability of the copied accounts; and (ii) the overall performance of the copied trader, account, portfolio and/or strategy.
- 22.214.171.124 In particular, when FollowTrading a CEZEX Portfolio, You further authorize CEZEX, to: (a) to copy or stop copying any trader, account, portfolio and/or strategy, at its sole and absolute discretion; (b) to open and/or close any position available on our Websites/applications, at its sole and absolute discretion to set limits to any position (including copy position); (c) to update and/or amend the policy, the objectives, the structure and/or composition of any CEZEX Portfolio, at its sole and absolute discretion, with or without notice to its copiers; (d) to close any such account, portfolio and/or strategy, at its sole and absolute discretion, with or without notice to its copiers.
- 126.96.36.199 CEZEX shall continue to be committed to exercising reasonable endeavors to monitor the performance of copied trader, account, portfolio and/or strategy, against parameters established by it, which may include, risk behavior, profitability, drawdown and any other parameters deemed relevant by CEZEX and to stop and/or block any trader, account, portfolio and/or strategy from being copied. In furtherance to our authorizations set forth in these Terms and Conditions, We reserve the right to pause, to copy or stop copying any trader, account, portfolio and/or strategy, at our sole and absolute discretion.
- 188.8.131.52 Without derogating from the generality of anything in these Terms and Conditions, the provision of Social Trading Features and/or our FollowTrading services does not constitute investment advice on our part. You are using the Social Trading Features at your own risk and CEZEX and its affiliates, employees, clients and agents will not be liable for any losses that you may sustain as a result of your using such features. Neither CEZEX (with respect to CEZEX Portfolios) nor any copied trader, account, portfolio and/or strategy guarantees the future performance of your Account, any specific level of performance, the success of any investment strategy or the success of our overall management of the Account. Investment strategies are subject to various market, currency, economic, political and business risks. Investment decisions may not be profitable and may result in the loss of your entire invested amount. Past performance is not a guarantee or prediction of future performance.
- 184.108.40.206 You should note that We and our affiliates may take the same or similar positions in specific investments for our other clients and our own accounts as we do for you, or We or our affiliates or other customers may open trades in an opposite direction to You. We have no obligation to purchase or sell, or to recommend for purchase or sale in your Account, any security which we or our Affiliates may purchase or sell for our other clients and our own accounts. You should further note that we may elect to remunerate our copied traders.
- 220.127.116.11. To the maximum extent permissible under the applicable law, neither we nor any of our affiliates will be liable for (a) any loss arising from adhering to your written or oral instructions, (b) any loss that you may suffer by reason of any decision made or other action taken by an account elected to be copied by You, including without limitation, an CEZEX Portfolio; or (c) specifically any loss arising from any investment decision made or other action taken or omitted in good faith by any copied account, strategy and/or portfolio, including without limitation an CEZEX Portfolio. Nothing in these Terms and Conditions will waive or limit any rights that you may have under any applicable laws which may not be waived or limited.
- 1.2. Registration
You acknowledge that applicable laws require us to obtain, verify, and record information identifying each person who wishes to effect trading activity via a CEZEX account. By accepting these Terms and Conditions, you agree to CEZEX's verification policy. You further acknowledge that We make efforts to prevent fraud and to confirm Your identity. Accordingly and in order to comply with our regulatory obligation, upon our registration process or at any given time thereafter and in any event prior to commencing your trading activity, You are required to provide personally identifiable information and additional documentation required by Us for such purpose. If You have funded your account and fail to verify your account within 12 days as of the effective date of these Terms and Conditions (i.e. from your deposit date), we will be forced to terminate the relationship with you and refund the available balance from your account, less any non-withdrawable amount, to the original method of payment in your name. It is hereby clarified that until You have fully verified your account certain actions may be taken and certain limitations may be imposed on your account at any time prior to such termination, all according to CEZEX’s sole discretion (such as, but not limited to: closing open positions in your account, restricting any withdrawals /opening new positions/making new deposits; and any other action or limitation as CEZEX shall decide).
Without derogating from the generality of the foregoing, CEZEX reserves the right to limit, block access to the Services and/or terminating the user account (including by closing your open positions) and/or to assign its accounts to another entity at any time if such required information and documentation is not provided. CEZEX shall bear no responsibilities to the possible losses you incur upon the closure of such positions.
Unless otherwise agreed with you in writing, you will be classified as a retail client for the purposes of the rules and guidance of our regultor as issued, amended or supplemented from time to time (the "ABACA Rules"). You may request that we re-categorize you as a different type of client, "Professional Client" or an "Eligible Counterparty" (in which case you would lose some of the protections provided for in the ABACA Rules) but we would not be obliged to re-categorize you as requested. A “Professional Client” will be assessed and categorized as such based on the specific criteria set forth by CEZEX which may include stated expertise, experience and knowledge in financial markets. We deem that Professional Clients are capable of making their own investment decisions and that they understand the risks involved. If you are re-classified as a Professional Client, you may lose certain protections, as communicated to you from time to time. These includes limits in relation to leverage, as detailed further below. In these circumstances, we will provide you with a "notice of protections lost" setting out any regulatory protections that will no longer be provided, as well as any protections that will be retained.
If You desire to be re-classified or for more information please visit our Regulatory Disclosures section at www.cezex.io/*.
- 1.3. Eligibility
It is a pre-condition that our Services are only used and contracts are only formed by those who are permitted to enter legally binding agreements. Therefore, if there is any reason why You would not be able to enter a legally binding agreement with Us, for whatever reason - do not use our Services. Such reasons could include, but are not limited to persons that have not yet reached a legal age of consent in a relevant jurisdiction. Due to our internal policies, we will only provide the Services to users with sufficient experience, knowledge and understanding of financial investments or financial products, who fully understand the associated risks. Notwithstanding any of the above, the above mentioned eligibility restrictions shall only apply in cases where the Services involve the use of real money. The above restrictions shall not apply to use of any demonstration account not associated with real money transactions. Trading activity with CEZEX might be illegal in some jurisdictions and we encourage users to check local regulations before deciding to use the Services. We reserve the right to asses or reassess at any time your relevant knowledge and experience to use our Services.
Without limiting the foregoing, by using our Services You acknowledge and understand that laws regarding financial instruments vary throughout the world, and it is Your obligation alone to ensure that You fully comply with any law, regulation or directive, relevant to Your country of residency with regards to the use of our Services. For avoidance of doubt, the ability to access Our Services does not necessarily mean that Our Services, and/or Your activities through it, are legal under the laws, regulations or directives relevant to Your country of residency. Our websites and/or any other online material do not constitute, and may not be used for the purposes of, an offer or solicitation to anyone in any jurisdiction in which such offer or solicitation is not authorized, or to any person to whom it is unlawful to make such an offer or solicitation.
- 1.4. Identification
- 1.4.1. General. We are required by law any applicable regulations (including without limitation, the Foreign Account Tax Compliance Act ”FATCA”) to confirm and verify the identity of each person who registers on our system and opens an account with us. Therefore, you will be prompted to provide us with information when you register with us, including: (1) name, (2) address, (3) date of birth, (4) phone number and any other personally identifiable information that we may ask for from time to time such as a copy of your passport, a proof of addresses or other identifying documents or information, and the countries of which you are a tax resident, and confirm whether you are a United States citizen or your place of birth is in the United States. You shall notify CEZEX in writing within 30 days of any material change in the validity of, or information previously provided to Us.
- 1.4.2. Financial Checks. From time to time you may be requested to provide us with certain documents to verify the details of the credit card, electronic wallet and/or other means of payment used by you to deposit monies in your account, or other details provided by you. Subject to such verification you may or may not be permitted to deposit money or further money or use or continue to use any Services.
- 1.4.3. If you do not provide the information within the required time frame, or provide inaccurate, incomplete or otherwise misleading We reserves the right to limit, block access to the Services and/or terminate the user account and/or to assign the user’s account to one of CEZEX’s affiliates if such information is not provided.
- 1.4.4. Death or incapacity of account owner. Upon the death or incapacity of an account owner and if the legal heirs or representatives of such account owner would like to withdraw the remaining balance in the account, to the extent there is any, such legal heirs should present to us official legal documents from the applicable authorities in the relevant jurisdiction to our satisfaction, and we, in our sole discretion and upon checking such documents, shall make the decision whether to allow such withdrawal.
- 1.5. Language of Terms and Conditions
CEZEX may elect to provide you with these Terms and Conditions and/or any other documentation, information and communications ('Communications') in various languages. By accepting these Terms and Conditions (in any language) you acknowledge and accept that: (a) CEZEX's official language is English; and (b) in the event of any discrepancy or inconsistency between any Communication in English and the same in another language, the Communication in English shall exclusively prevail.
- 1.6. Means of communication
CEZEX reserves the right to communicate with you by email, electronic chats, online discussions, telephone, fax, post, newsletters issued by us and/or any other mean of communications, whether such communication is personally addressed to you or generally addressed to all our users. By accepting these Terms and Conditions you acknowledge and confirm that all such means of communications are deemed acceptable and any such communication so provided shall be deemed to have been received by you. You further hereby consent to your Account information and trade confirmations being available on the internet instead of having such information delivered to you by mail or email. You will be able to access account information through the trading platform using your Account credentials. We will display all of your account activity and you will be able to access reports of account. Posting of account information on your online account will be deemed delivery of confirmation and account statements.
- 1.7. Your representative(s)
Should you grant trading authority or control over your account to a third party whether on a discretionary or non-discretionary basis, you do so at your own risk. Neither CEZEX nor any of its affiliates or agents shall in any way be responsible for reviewing your choice of such third party or for making any recommendations with respect thereto. CEZEX does not make any representations or warranties concerning such third party and shall not be responsible for any loss to you which results from the actions of such third party. CEZEX reserves the right to reject the appointment of any representative or attorney authorized to act on your account and may elect to dismiss and/or reject any transactions performed by such person.
- 1.8. Your Representations and Warranties
- 1.8.1. Every time you use a Service you will be deemed to represent and warrant that:
1.8.2. For the avoidance of doubt, representations and warranties are personal statements or assurances given by you on which we will rely when we provide the Services to you.
1.9. Limited License. Subject to the above registration and eligibility requirements and the terms and conditions set forth herein, We hereby grant You a personal license (a "License") that is non-transferable, non-exclusive and fully revocable to use our Service (including the use of our website and any associated downloadable software). You will also be subject to the End User License Agreement of CEZEX Trading Limited that is associated with downloading any software from our website and is attached herewith and forms a part of these Terms and Conditions.
1.10. Commissions, charges and other costs
- You are at least 18 years old, or the age of legal consent for engaging in financial investment activities under the laws of any jurisdiction that applies to you;
- You are not a politically exposed person and do not have any relationship (e.g., relative, associate etc.) with a person who holds or held during the last 12 months any public position. If the above statement is untrue or inaccurate with respect to you, please inform our customer support team at www.cezex.io/* and we shall inform you if/how you may continue to use the Services;
- You are of sound mind and are capable of taking responsibility for your own actions;
- All the details that you have submitted to us or any details given to us when opening an account and/or making a deposit are accurate, up-to-date, complete and not misleading and match the name on the payment card and/or payment accounts which you intend to deposit or receive monies from your account;
- You will notify us immediately of any changes to any information you have provided to us in connection with these Terms and Conditions;
- You understand that financial regulations, financial codes, financial ethics and contractual requirements vary worldwide and it is your responsibility to make sure that you comply with any and all local regulations, directives, restrictions and laws in your local place of residence before using the Services. You have verified and determined that your use of the Services does not violate any such laws or regulations of any jurisdiction that applies to you;
- You are responsible for any regulatory reporting requirements in relation to your transactions;
- All money that you use and invest through the Services does not originate in any way from drug trafficking, abduction, terrorist activity or any other criminal activity that is unlawful or could be considered unlawful by any relevant authority.
1.11. Quotes & Transactions
- 1.10.1. You shall pay us the commissions, spreads, charges and other costs set out on our website at www.cezex.io/*. Subject to these Terms and Conditions, We will display all current typical commissions, charges and other costs on our website. Certain instruments may be offered on the basis of a variable spread. A variable spread is a spread that is not constant in value. The spread will vary according to market conditions and liquidity changes. Due to the volatile nature of these products, a typical spread cannot be listed on the Fees page with respect to such instruments.
- 1.10.2. You acknowledge that our commissions, spreads, charges and other costs presented to you when opening a trade and/or in our website/platforms are not guaranteed by Us and represent an estimation only based on market condition at the time that the trade has been opened. You further acknowledge that the prices, spreads, rolls over fees/credits charged may vary and there may be instances when market conditions cause spreads to widen beyond the typical spreads displayed on our website.
We may vary commissions, charges and other costs from time to time and such changes in commissions, charges and other costs are displayed on our website/platforms.
- 1.10.3. Subject to complying with the ABACA Rules and any other applicable regulations of any regulatory authority, We will not be under any obligation to disclose to, or account to you for any profit, benefit, commission or other remuneration made or received by us by reason of any transaction or investment.
- 1.10.4. You acknowledge and agree that we may, where applicable make payments to third parties that help initiate, conclude or maintain a business relationship between us (or our affiliates) and our clients. These payments may include rebates, commission, widened spreads and profit sharing.
- 1.10.5. You acknowledge that all amounts due to us shall be deducted from your equity as appearing in your Account.
1.12. Payments and Withdrawals
- 1.11.1. Where relevant, we may provide quotes via the trading platform. All quotes are indicative only, are current as at the time provided or displayed, and are provided for information purposes only but do not constitute an offer by us to buy or sell any product or instrument at that price. All quotes are subject to volatility and market fluctuations.
- 1.11.2. We may, in our absolute discretion, but is under no obligation to, execute your requests and instructions outside of the normal trading hours specified for that particular instrument.
- 1.11.3. We reserve the right to block any user from being copied, for whatsoever reason.
- 1.11.4. Where relevant, we specify spread for each instrument on our website. We are entitled to change spreads without prior notice to you.
- 1.11.5. While we take into account the underlying asset price for certain products, you acknowledge that we are under no obligation to ensure that the quotes it provides are within any specific percentage of the underlying asset price. If the relevant underlying market or exchange is closed, quotes provided by CEZEX will reflect what CEZEX believes to be the current bid and ask price of the relevant underlying asset price at that time. You acknowledge that quotes may be set by us in our absolute discretion.
- 1.11.6. We reserve the right to void from the outset any transaction containing or based on any Manifest Error or a price, or series of prices, which are subsequently determined to be unrepresentative of the actual market valuation of an asset/product. In the absence of our fraud or willful default, We will not be liable to you for any loss, cost, claim, demand or expense following any Manifest Error or such erroneous quote. For such purpose, a “Manifest Error” means any error that we reasonably believe to be obvious or palpable, including without limitation, offers to execute transactions for exaggerated volumes or at manifestly incorrect market price quotes or prices at a clear loss.
- 1.11.7. Without derogating from anything in these Terms and Conditions, if, prior to the acceptance of your offer to open or close a transaction, we become aware that any of the factors set out in these Terms and Conditions have not been met, We reserve the right to reject your offer outright. If we have, nevertheless, already opened or closed a transaction prior to becoming aware that a factor set out in these Terms and Conditions has not been met, we may, acting reasonably, either treat such a transaction as void from the outset or close it at our then prevailing price. However, we may allow you to open or, as the case may be, close the transaction in which case you will be bound by the opening or closure of such transaction, notwithstanding that the factors in these Terms and Conditions were not satisfied.
- 1.11.8. The factors referred to in these Terms and Conditions include the following: (i) the quote must be obtained via the trading platform or by such other means as we may from time to time notify you; (ii) your offer to open or close the transaction must be given while the quote is still valid; (iii) the quote must not contain a Manifest Error; (iv) a Force Majeure Event must not have occurred as described herein these Terms and Conditions; (v) when you offer to open any transaction, the opening of the transaction must not result in your exceeding any initial or maintenance Margin amount, credit or other limit placed on your dealings; and (vi) any other factor that we, acting reasonably, notify you from time to time.
- 1.11.9. Force Majeure Events. We may, in our reasonable opinion, determine that a Force Majeure Event exists. A Force Majeure Event will include, but is not limited to, the following: (i) any act, event or occurrence (including without limitation any strike, riot or civil unrest, act of terrorism, war, industrial action, acts and regulations of any governmental or supra national bodies or authorities) that, in our opinion, prevents us from maintaining an orderly market in one or more of the instruments in respect of which we deal on the trading platform; (ii) the suspension or closure of any exchange or the nationalization, government sequestration, abandonment or failure of any instrument on which we base, or to which we in any way relate, our quote, or the imposition of limits or special or unusual terms on the trading in any such market or on any such event; (iii) the occurrence of an excessive movement in the level of any transaction and/or exchange or our anticipation (acting reasonably) of the occurrence of such a movement; (iv) any breakdown or failure of transmission, communication or computer facilities, interruption of power supply, or electronic or communications equipment failure; or (v) the failure of any relevant supplier, financial institution intermediate broker, agent or principal of ours, custodian, sub-custodian, dealer, exchange, clearing house or regulatory or self-regulatory organization, for any reason, to perform its obligations. If we determine that a Force Majeure Event exists, we may without notice and at any time, acting reasonably, take one or more of the following steps: (a) alter your Margin requirements; which may result in you being required to provide additional Margin; (b) close all or any of your open Transactions at such closing prices as we reasonably believe to be appropriate; (c) suspend or modify the application of all or part of these Terms and Conditions to the extent that the Force Majeure Event makes it impossible or impracticable for us to comply thereto; or (d) alter the trading hours for a particular Transaction. (e) void all open transactions in affected Instruments. You agree that we will not be liable in any way to you or to any other person in the event of a Force Majeure Event, nor for our actions pursuant to Section 1.11.9 if we decide to take such action. The parties shall be released of all responsibilities for partial or full non-fulfilment, as well as for improper fulfilment of the obligations under these Terms and Conditions, if such non-fulfilment or improper fulfilment was a result of a Force Majeure Event, which occurred after the Services were terminated.
- 1.12.1. You may deposit funds into your trading account at any time. We will only accept a payment method (for example bank account, e-wallets etc.) in your name. Unless otherwise approved by us pursuant to our internal procedures, third party or anonymous payments shall not be accepted. If CEZEX is not satisfied that you are the sender of the funds it reserves the right to reject the funds and return it to the remitter less any transfer fees or other charges. You may be required to submit additional documentation as required by anti-money laundering regulations and any other similar regulations applicable to us (“AML”).
- 1.12.2. We reserve the right to impose payment, deposit or withdrawal limits and payment, deposit or withdrawal fees by giving you reasonable advance notice. Our deposit and withdrawal fees are as set forth at www.cezex.io/*.
- 1.12.3. If we accept any payments by debit card, credit card or any other payment method that may charge processing fees, we reserve the right to charge you a transfer fee as set forth at www.cezex.io/*.
- 1.12.4. We reserve the right to use our affiliates’ e-wallets and payment processing accounts to process your deposits and withdrawals on our behalf. Your funds may be aggregate with other clients’ funds within an omnibus sub-account on our behalf and transferred to us upon intervals to be determined by us in our sole discretion.
- 1.12.5. If you make a payment to one of our and/or our affiliates payment processing accounts, CEZEX shall immediately credit your trading account with the amount of such payment if we are satisfied that you are the sender of the money. Credit in your trading account shall be denominated in United States Dollars only, if you make a payment in any other currency (except cryptocurrency) the payment amount will be converted to United States Dollars in accordance with these Terms and Conditions. Payments in Cryptocurrency shall be accepted and retained in such cryptocurrency as long as it is a cryptocurrency supported by CEZEX.
- 1.12.6. If We are not satisfied that You are the sender of the funds We reserve the right to reject the funds and return them to the remitter net of any transfer fees or other charges.
- 1.12.7. We reserve the right, without prior notice to you, to make any currency conversions which we consider necessary or desirable for the purposes of complying with our obligations or exercising our rights under these Terms and Conditions or any transaction. Our conversion charges are as set forth at www.cezex.io/*. Any such conversion shall be effected by us in such manner and the rates set forth in our website. Typically, such charges will be presented to you via our trading platform at the time the payment is being made.
- 1.12.8. All foreign currency exchange risk arising from any transaction or from our compliance with our obligations or the exercise of our rights under these Terms and Conditions will be your responsibility.
- 1.12.9. Once received, your money (save for any funds used as margin) shall be deposited in segregated client accounts maintained by us with reputable payment institutions and payment providers in accordance with the applicable regulation on client money and as set out herein these Terms and Conditions.
- 1.12.10. If you give an instruction to withdraw money from your trading account, we will reduce the requested money immediately from your account balance and shall process the withdrawal within the following 24 business hours being any day other than a Saturday, Sunday or public holiday when banks in the relevant jurisdiction are open for business (“Business Day”) of our acceptance of the instruction if the following requirements are met:
- your instruction includes all necessary information;
- your instruction is to make a payment through a payment method in your name (e.g. bank account, e-wallets etc.); and
- you have provided full identification documents as may be requested by us to support your instruction pursuant to our AML procedures.
Please note that it might take a few days for your payment processor to update the balance in your account, depending on its policy and procedures.
- 1.12.11. According to our AML procedures any withdrawal request will be paid to the same individual that originally deposited money with us via any of the payment methods used by him/her when the trading account was initially funded (“original payment method”).
- 1.12.12. If we are unable to send the money or any partial amount thereof back through the original payment method, we reserve the right to pay the amount through an alternative payment method indicated by you, in United States Dollars (regardless of the currency in which the deposit was made). We shall not be held responsible for any transfer fees or charges charged by the receiver and/or any currency exchange rates resulting from the payment of such amount in United States Dollars.
1.14. Right of set-off
- 1.13.1. For some products, in order to open a transaction and keep such transaction open, You shall provide to us and maintain with us such amount of money in respect of and as security for your actual or future obligations or liabilities to us (“Liabilities”) in such amounts and in such forms as we, at our sole discretion, may require (“Margin”). Different instruments may have different Margin requirements as shall be determined by Us from time to time.
- 1.13.2. Trading using leverage can result in losses in excess of the deposits that you hold. To the extent you trade with leverage, this will magnify your gains and losses. Small price changes in the financial product can result in significant losses or gains. However, we provide all clients with negative balance protection. This means that your aggregate liability for all products relating to your Account is limited to the funds in your Account.
- 1.13.3. Additionally, various jurisdictions and/or client’s classification, may require the imposition of maximum leverage requirements and/or minimum Margin requirements on Accounts maintained by their residents. To comply with such regulatory obligations, We reserve the right to limit and/or restrict the leverage ratio and/or increase the Margin requirement applicable to such Accounts. To the extent any transactions were executed at a leverage ratio exceeding such limitations and/or to the extent the overall Margin requirement applicable to such users has not been met when due, We reserve the right to close any or all of your open positions without further notice to you whether at a loss or a profit and liquidate your Account. We may close out one or more of your open positions, if the total Margin in your Account falls below 50% of your initial Margin. Where we do so, we will close such open positions at the current market price.
- 1.13.4. Without derogating from the generality of the above we are required to limit the amount of leverage that Retail Clients can apply to certain transactions, depending on where those clients are resident. These leverage limits are likely to differ depending upon the product used in connection with the trade. We will set out the relevant leverage limits relating to retail client transactions on our website. Professional Clients will not be subject to prescribed leverage limits.
- 1.13.5. We may change our Margin requirements at any time. Any requirement for Margin must be satisfied in such currency and within such time as may be specified by us (in our sole discretion) or, if none is specified, immediately.
- 1.13.6. One Margin demand does not preclude another. Margin shall be provided in cash or such other form as we may agree or accept. Should the funds in your account fail to meet the Margins requirements, We reserve the right to block your Account, limit the amount and total number of open Transactions that you may wish to open or currently maintain on the trading platform and/or close any open positions and liquidate the Account.
- 1.13.7. You are responsible for maintaining appropriate arrangements with us at all times for the receipt and communication of information regarding Margin. You are aware and acknowledge that we may require you to increase the amount in your Account pursuant to a Margin call. A Margin call may be based upon a number of factors, including without limitation, your overall positions with us, your account size, the number of open Transactions you have, volume traded, your trade history and market conditions.
- 1.13.8. No previous Margin requirements specified by us shall preclude us from increasing the rates of Margin without notice. It is your responsibility to monitor at all times the amount deposited in your Account against the amount of any Margin that may become necessary.
- 1.13.9. Failure to meet the Margin requirement at any time or failure to make a Margin Payment when due may result in closure of your open positions without further notice to you whether at a loss or a profit and liquidate your Account.
- 1.13.10. Unless otherwise agreed by us, you charge to us all Margin as a continuing security for your Liabilities under or pursuant to these Terms and Conditions (including under every transaction). You agree to execute such further documents and to take such further steps as we may reasonably require to enable us to exercise our rights or to satisfy any requirement.
- 1.13.11. You hereby grant CEZEX 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 held for your benefit by CEZEX as margin or security. CEZEX shall at no time be required to deliver to You the identical property delivered to or purchased by CEZEX for Your account. CEZEX is irrevocably appointed as attorney in-fact for You and is authorized, without notice to You, to execute and deliver any documents, give any notice and to take any actions on Your behalf, including the execution, delivery and filing of financing statements, that CEZEX deems necessary or desirable to evidence or to protect Its interest with respect to any collateral. All funds not used by you as Margin to secure your open positions may be freely withdrawn by you, subject to (i) the provisions of these Terms and Conditions, (ii) the availability of money in your account and (iii) any fees or commissions you may owe us. You hereby confirm and acknowledge that any portion of your funds used as margin to secure your open position may be transferred by us from your client’s accounts and may be utilized by us to secure our contingent obligations. Such portion of the funds will be considered as debt due by us to You and shall not be considered as “clients’ funds”. All such funds shall be returned and repaid into the clients’ accounts upon the closing of the relevant open positions.
All your money, securities, currencies, and other property which CEZEX may at any time be holding for you (either individually, jointly with others, or as a guarantor of the account of any other person) or which may at any time be in its possession or control or carried on its books for any purpose, are subject to a general lien and right of set-off by CEZEX for your liabilities to Us.
1.15. Client’s Money
1.16. Several Trading Accounts
- 1.15.1. Your funds (except for Margin) will be segregated by us and held in segregated bank accounts or in segregated accounts with another authorized firm which may be an affiliate of ours (i.e. will be held separately from our own funds), in accordance with the applicable laws and regulations on client money.
- 1.15.2. We may hold your money and aggregate the money of other clients in the same bank account (an omnibus account).
- 1.15.3. Omnibus Account Risk: The risk of loss emanating from the use of omnibus accounts in third parties, i.e. financial or credit institutions. The above risk may hold other types of risks including legal, liquidation risk, haircut risk, third party risk etc. In the event of the insolvency or any other analogous proceedings in relation to that third party, CEZEX may only have an unsecured claim against the third party on behalf of the client, and the client will be exposed to the risk that the money received by CEZEX from the third party is insufficient to satisfy the claims of the client with claims in respect of the relevant account. CEZEX does not accept any liability or responsibility for any resulting losses.
- 1.15.4. We will likely hold client money in a bank account located outside your home residence country. The legal and regulatory regime applying to any such bank might be different from your home residence country, and in the event of the insolvency or any other equivalent failure of that bank, your money may be treated differently from the treatment which would apply if the money was held with a bank in your home residence country.
- 1.15.5. We may allow another person to hold or control client money where we transfer client money for the purpose of a transaction for you through or with that person or to meet your obligation to provide Margin for a transaction. Such persons may include affiliates of CEZEX Trading Limited. Such funds will be held in accordance with the applicable laws and regulations on client money.
- 1.15.6. Before We appoint any third party to carry out any of the services as described these Terms and Conditions above and during its service provision, We will take the following measures: (i) collect background information; (ii) review expertise & market reputation; (iii) review of the financial statements; Regular checks on credit rating and (iv) from time to time perform a revision (reconciliation) of entries to clients’ accounts and the client’s funds/securities kept in such accounts.
- 1.15.7. We will not be liable for the solvency, acts or omissions of any bank or other third party holding client money.
- 1.15.8. We will not pay interest on any client money we hold.
- 1.15.9. In the event that there has been no movement on your account balance exceeding the minimal amount set forth in the applicable regulations for a period of at least one year (excluding any payments or receipt of charges, interest or similar items), and we are unable to trace you despite having taken reasonable steps to do so, you agree that we may cease to treat your money as client money, and further that ownership of such money will be irrevocably transferred from you to us. Such limitation shall not apply with respect to account balances in amounts lower than the minimal amount set forth in the applicable regulations or the equivalent of one thousand United States Dollars whichever is lower.
If you have more than one trading account, we reserve the right to treat all such accounts as if they were under one account. We may limit the number of trading accounts maintained by any person or within a single household, at our sole discretion. We are authorized and entitled without notice to you to take such action to protect our own position by combining your accounts, setting-off between your accounts or to satisfy any obligations that you may have to us out of any of your monies in our custody.
1.17. Administration Fees for Inactive Accounts
If your account is defined as an Inactive Account (defined below), an Inactivity Fee may be payable by you by virtue of the provision of and the continued availability of your account together with the cost of Our associated regulatory and compliance requirements towards you, regardless of your actual use. Once an Account is deemed Inactive, We shall deduct a monthly Inactivity Fee in the amount set out on our website at www.cezex.io. Such monthly fees shall be deducted until the equity of the account has reached zero and dormant account with a zero equity may be closed by Us (however we shall not charge any amount exceeding your available equity). You can avoid the deduction of the Inactivity Fee if you log into your Account (on mobile or desktop) and CEZEX will cease to deduct the Inactivity Fee unless your Account shall become Inactive again, but We shall not refund any Inactivity Fees already deducted from the account prior to such login. For the purpose of these Terms and Conditions, the term “Inactive Account” shall mean: (a) if you have not deposited funds into your Account or have not logged into your Account for a period of at least 120 days; and (b) if you have deposited funds into your Account and have not logged into your Account for a period of at least 6 months.
1.19. Applicable Regulations
- 1.18.1. For some instruments or products We may utilize other executing brokers, including an affiliate or a non-affiliated third party, to execute your orders/or and transactions. Such executing brokers shall have the benefit of all of our rights and remedies and limitations on liability under these Terms and Conditions.
- 1.18.2. We reserve the rights to decline any order or transaction, at any time, in our sole discretion. We further reserve the right to cancel, modify, suspend or discontinue, temporarily or permanently at any time in its sole discretion any existing order and/or the ability to place any orders including without limitation, limit orders such as stop loss, take profit, buy limit and/or sell limit, either generally or with respect to a specific instrument or with respect to a specific direction of a specific instrument.
- 1.18.3. You shall be responsible for monitoring all Your orders until We confirm execution or cancellation of the order.
- 1.18.4. Any order or instruction you give us will not take effect unless actually received and acknowledged by us. We shall be entitled to act upon any order or instruction which we reasonably believe is given by you or on your behalf without further enquiry as to the genuineness, authority or the identity of any such person giving or purporting to give such order or instruction. The execution of an order by us shall constitute a binding agreement between you and us on the terms of such executed order.
- 1.18.5. CEZEX does not guarantee any order. Placing stops, regardless of the entry or closing designation, does not guarantee that the trade will be filled at the order price. All entry Stops and Stops will be filled, upon activation, at the available market price available to us that may or may not match the requested order price.
- 1.18.6. You acknowledge that it may not be possible to cancel or modify an order with respect to certain types of transactions, with respect to securities and/or Cryptocurrencies (being a type of decentralized digital currency or asset which is not issued by any central bank or issuer in which encryption techniques are used to facilitate the generation of units of the currency or asset and verify the transfer of units (“Cryptocurrencies”)) executed. Any attempt to cancel or modify an order is simply a request to cancel or modify and shall not be recognized by CEZEX, unless specifically approved by Us. CEZEX shall not be liable to for any loss You may sustain in the event of a non-cancelation of said orders, regardless if the security price becomes highly volatile, the occurrence of a market event and/or upon an excessive movement in the market or the like.
- 1.18.7. Except for excluded transactions as set forth in www.cezex.io/* some transactions which are open positions held by you after the relevant hour as set forth on www.cezex.io/* (the “Overnight Hour”) which is considered the beginning and end of the trading day are considered to be held overnight, and may be subject to overnight fee/credit as explained below. You acknowledge that when holding certain positions open after the Overnight Hour, an overnight fee/credit will be either added or subtracted from your account with respect to such position. The overnight fee/credit amount is a constant fee/percentage of the position value/dollar amount per units and is based on a number of factors including among others, whether the transaction is a buy or a sell, interest rates, the currency in which it is denominated, instrument differentials, daily price fluctuations and other economic and market related factors. The overnight fee/credit for each instrument is displayed on www.cezex.io/* link for each specific Instrument on the trading platform. Please note that in some circumstances where traditional liquidity providers are involved, most liquidity providers (which include global banks, financial institutions, prime brokers and other market makers) across the globe are closed on Saturdays and Sundays, so there is no overnight on these days, but most liquidity providers still apply interest for those days they are not open. To account for that, We will book two/three days of overnight fee/credit on the day relevant for such Instrument as set forth on www.cezex.io/* (the “WE Overnight Day”), which makes a typical Overnight Day overnight fee/credit a multiple of the amount on the preceding weekdays, all as set forth on www.cezex.io/*. Market holidays will be charged on a daily basis and not in advance before the holiday (for instance if any of the currencies traded has a major holiday). In deciding whether to open a position for a specific Instrument, you acknowledge that you are aware of the overnight fee/credit and authorize us to add or subtract such an overnight fee/credit to or from your account.
- 1.18.8. When an individual instrument or product which is a constituent of an index goes ex-dividend, this will have a weighted effect on that index, known as the “index dividend” or “index impact”. We will make adjustments to those accounts with a position in an affected index, if that position is open on the relevant Overnight Hour on the day prior to the ex-dividend date of the constituent shares. We reserve the right to effect such adjustment within 30 days following the ex-dividend date. We will credit long positions and debit short positions (by means of a cash adjustment) to your Account. In doing so we will make an effort to effect such adjustment on the basis of good faith and fairness and, where appropriate, by taking such action as is consistent with market practice and/or taking into account the treatment we may receive from our counterparties or any relevant third party. As a result of such event, we may determine the appropriate adjustment to be made to the price or quantity as we consider appropriate to account for said event.
- 1.18.9. Orders for Cryptocurrencies, Securities, Derivatives and/or other transactions (including ETFs, bonds and/or other debt instruments).
- 18.104.22.168. The execution price reported to You on the relevant confirmation of the buy or sell order shall reflect the prices available at the time of execution to which spreads and commissions shall may be added or deducted, as the case may be. Such bid-ask prices shall not necessarily reflect the price for the instrument or product as quoted on the prices presented in charts and/or other market information made available by us. CEZEX disclaims any liability with respect to any such discrepancies.
- 22.214.171.124. You acknowledge that our platform is independent of any other third party and we are under no obligation to quote a particular price or follow the trading rules consistent with other platforms. You further acknowledge that the triggering of your transaction is linked to the prices we quote on our platform, during trading hours and not the prices quoted on any other prices. In determining whether the prices quoted on the platform reach or exceed the price accepted by Us in a transaction, We will be entitled (but not obliged) to disregard any prices quoted during any pre-market, post-market or intra-day auction periods in any relevant third party platform, during any intra-day or other period of suspension in any relevant third party platform, or during any other period that in our reasonable opinion may give rise to short-term price spikes or other distortions. Our prices may differ from the current prices on any relevant third party platform and you acknowledge that a transaction may or may not be triggered even though: (a) any platform never traded at the level of your transaction; or (b) any platform did trade at the level of your transaction but for such a short period or in such low volumes that it would have been impractical to execute an equivalent transaction on the relevant platform.
- 126.96.36.199. When entering into an order for Securities and/or Cryptocurrencies (SEC Transaction), You irrevocably and unconditionally agree to accept the security bid/ask prices in which the transaction shall be executed as shall be reflected on our trading platform as final and binding.
- 188.8.131.52. When effecting Derivatives transactions, CEZEX or the affiliate or third party provider may or may not acquire or sell the underlying asset for its own account to cover said orders. The underlying asset may be obtained at any relevant exchange/counterparty in which such underlying asset is traded.
- 184.108.40.206. In some instances for certain instruments/products We may in accordance with our Order Execution Policy, aggregate your orders with our own orders, orders of any of our associates and/or persons connected with us including employees and other clients. Furthermore, we may split your orders when executing them. You accept that aggregation and split of your order may result in you obtaining a less favorable price than if your orders had been executed separately.
- 220.127.116.11. Without derogating from the generality of the foregoing or any other provision of these Terms and Conditions, We further reserve the right NOT to execute buy or sell orders for Securities and/or Cryptocurrencies and/or Derivatives and/or to close any open positions therein, without any further notice to you, in the following circumstances: (1) Your order violates third party exchange Rules or securities or commodities laws, regulations or Rules, or is intended to defraud or manipulate the market; (2) abnormal market conditions and/or a significant disruption in or premature close of trading of the relevant instrument/product and/or the market on which is traded; (3) Force Majeure, acts of God, war (declared or undeclared), terrorism, fire or action by an exchange, regulatory or governmental authority that disrupts trading in the relevant security; (4) in the event liquidity providers are unable to provide liquidity to Us.
1.20. Account Information
- 1.19.1. These Terms and Conditions and any orders or transactions placed or executed under it are subject to all applicable laws and regulations including, without limitation, the constitutions, articles, by-laws, rules, regulations, policies, procedures and interpretations (collectively, "Rules") of third party exchanges, markets and clearing houses in which CEZEX may elects to hedge its activity; of ABACA; and any other applicable Rules of a regulatory, self-regulatory or governmental authority ("Applicable Regulations"). IN NO EVENT SHALL CEZEX OR ANY OF ITS AFFILIATES BE LIABLE TO YOU FOR ANY ACTION, INACTION, DECISION OR RULING OF ANY THIRD PARTY EXCHANGE, MARKET, CLEARING HOUSE OR REGULATORY OR SELF-REGULATORY AUTHORITY.
- 1.19.2. CEZEX or its affiliates may take or omit any action they consider reasonable to comply with Applicable Regulations. You specifically acknowledges that Rules may afford wide powers in various situations, including, but not limited to, in an emergency, in an otherwise undesirable situation, or in the event of a default (not necessarily on the part of CEZEX and/or its affiliates), to close-out a transaction, to require the exercise of set-off rights or to take such other steps or combination of steps as the exchange thinks fit. You agree that, if a relevant third party takes any action which affects any transaction, then We may take any action which We, in our absolute discretion, consider desirable to respond to such action or to mitigate any loss incurred as a result of such action. Any such action taken by Us will be binding on You. In no event shall CEZEX or its affiliates be liable to You for any action, inaction, decision or ruling of any exchange, market, clearing house or regulatory, self-regulatory, governmental or supra national authority.
- 1.19.3. Nothing in these Terms and Conditions shall exclude or restrict any duty or liability owed by us to you under the Applicable Regulations and, notwithstanding any other provision of these Terms and Conditions, we shall be entitled to take any action that we consider necessary to ensure compliance with any relevant legislation and regulations. In the event of a conflict between any provision of these Terms and Conditions and any relevant legislation and regulations, the relevant legislation and regulations applicable to Us shall prevail.
- 1.19.4. Each time you enter into a trade you agree to repeat the following conditions:
- 18.104.22.168. You are not an employee of any exchange, a corporation in which any exchange owns a majority of the capital stock, a member of any exchange and/or firm registered on any exchange or any bank, trust or insurance company that trades in the products held by You;
- 22.214.171.124. You will not enter into any transaction which falls within the definition of market abuse. You are reminded that this applies to all forms of market abuse such as insider trading, the misuse of information and directors trading in shares of their own companies; in such circumstances we reserve the right to void all your trading transactions. The use of any high speed trading, scalping or automated data entry system will only be permitted with our prior written consent. Accordingly, a significant number of transactions with short duration may be deemed as market abuse; and
- 126.96.36.199. the execution, delivery and performance of these Terms and Conditions and your use of the Trading Platform including each transaction you complete thereto will not violate any law, ordinance, charter, by-law or rule applicable to you, in the jurisdiction in which you are resident, or any agreement by which you are bound or by which any of your assets are affected.
- 1.19.5. We are subject to reporting obligations under ABACA Rules on transaction reporting, We may have delegated certain reporting functions to a third party processor. The parties agree to take all necessary measures to enable the other party to comply with its reporting obligation.
- 1.19.6. The parties hereby expressly consent to the transfer of information to the extent required in order to comply with the reporting obligation in accordance with regulations. Such transfer of information will entail the disclosure of transaction data, including the portfolio data, the value determined for the transactions, collateral posted and the identity of the parties. The disclosure shall be made to ABACA and/or a delegated third party processor. ABACA and/or a delegated third party processor may pass such information to national supervisory authorities.
- 1.19.7. We shall not be liable to you for any failure by Us or any third party processor to report or clear transactions in accordance with regulations.
We will post details of your account activity on the website. Updated account information will be available after any activity takes place on your account. Account information will include confirmations, purchase and sale rates, utilized and unutilized Margin available for Margin trading, statements of profits and losses, as well as current open positions, any other information required to be provided by the ABACA Rules and any other information we may make available (“Account Information”). Posting of Account Information on the website will be deemed delivery to you of any relevant information (such as confirmations and account statements). We may at our sole discretion withdraw or amend any Account Information at any time. Unless otherwise agreed by us, you agree that we are under no obligation to provide confirmations in hard copy or by email rather than through the website. The Account Information (save if manifestly incorrect) will be conclusive evidence of your transactions, open positions, Margin and cash balances and will be binding on you if not objected to on the day of posting with such objection confirmed in writing (including email or electronic mail) no later than close of business on the Business Day following the day on which the Account Information is posted.
1.21. Marketing Promotions Terms & Expiration.
2. INTELLECTUAL PROPERTY
- 1.21.1. All promotions offering benefits to our users and potential users that we offer or may offer in the future are subject to specific promotional terms and conditions pursuant to which such benefits must be used. We reserve the right to amend, retract and/or cancel any and all Promotions at any time. Certain promotions may not be available in certain countries, as shall be determined by us at our sole discretion and shall be updated from time to time.
- 1.21.2. At all times, we reserve the right to deny, withhold or withdraw any promotion at our sole discretion at any time. In addition, if we suspect that a user (whether alone or with others) has manipulated or abused (or attempted to do so) a promotion and/or otherwise acted in bad faith towards us (including without limitation, by withdrawing the initial deposit(s), arbitrage trading, risk reduced profiting, hedging or counter-hedging related positions etc.), then, we reserve the right, at our sole discretion, to take the following actions with respect to any such user and/or to any person we consider is acting in concert with such user: (i) temporarily or permanently, block, suspend or terminate the Services or any portion thereof and close the Account, and/or (ii) remove and/or deduct any benefit which might have been granted to such users (taking into account any loss sustained which will be fully recognized); and/or (iii) remove and/or deduct any profits gained by such users as a result of such manipulation or abuse, including by closing any open positions the applicable Account(s), and/or (iii) deny, withhold or withdraw from that user such promotion and any future promotion. For the avoidance of doubt in such circumstances any benefit granted to such users and any profit or gains obtained by such users may be withdrawn, while any loss suffered by such users will be recognized and sustained.
- 1.21.3. Any benefit will only be credited once per account, person, household and/or any environment where computers are shared.
- 1.21.4. Due to regulatory obligations, CEZEX shall offer its customers bonuses but may applicable terms and conditions for the bonus or other restrictions.
All our intellectual property assets ("IP") including but limited to all copyrights, trademarks, patents, service marks, trade names, software code, icons, logos, characters, layouts, trade secrets, buttons, color scheme and graphics are our sole and exclusive IP and are all protected by local and international intellectual property laws and treaties including all copyright laws and regulations. Under no circumstances shall You remove any copyright notification from any of our IP or unlawfully use our websites and/or software. The use of our Services does not grant You any rights other than those granted to You by revocable License in any way. We own or are licensed to use all the images, graphics, video, audio, software code, user interface design or logos, and/or content displayed on our website and/or any software used therein and/or useable there through. You may not use these images in any way other than the manner which We provide them. You are not permitted to use any of our images and/or content for any other purpose without obtaining our prior written consent. Nothing contained on our websites shall be construed as granting, by implication or otherwise, of any license or right to use any trademark without either our written permission or the permission of the proprietor of such trademarks. Except as expressly stated herein, You may not without our prior written permission, alter, modify, reproduce, distribute or commercially exploit any materials, including text, graphics, video, audio, software code, user interface design or logos, from this or any of our websites. If You link from another website to one or more of our websites, your website, as well as the link itself, may not, without our prior written permission, suggest that We endorse, sponsor or are affiliated with any non-CEZEX website, entity, service or product, and may not make use of any of our IP other than those contained within the text of the link.
3. CONTENT, PERSONAL DATA AND COMMUNICATIONS WITHIN THE CEZEX COMMUNITY
- 3.1. Content and Personal Data
- 3.1.1. By acceptance of these Terms and Conditions, You agree and acknowledge that the following information and content shall be considered non-confidential and non-proprietary information (other than your personal data as described below), collectively, the "Content" and may be publicly shown on the Site: your username, your picture/avatar (if provided), your state of residency, gender, networks, list of users who follow You, users who copies You etc., list of users You follow or copy, and any network status/posts/blogs and any other content options that enable our users to interact amongst themselves, including without limitation content and information You post on our community, comments, feedback, postings, “likes”, blogs and/or all Information that You provide to Us via our website, our mobile apps, and/or by email, chat, fax or telephone and/or any other means.
In addition if you have elected to use one of our applications provided via social networks (such as Facebook, Tweeter, G+ etc.), our application will access to your social network account general information which includes your name and username in such social network, profile picture, gender, networks, user ID, list of friends, and any other information You have shared with “everyone” on the relevant social network. Additional information may be collected in specific social networks campaigns as shall be specified in the terms and conditions applicable to such campaign. All portfolio and trading information performance results shall be considered non-confidential and non-proprietary information and as CEZEX’s property. By providing such Content, You specifically grant Us a non-exclusive, irrevocable, transferable, sub-licensable, royalty-free, worldwide license to use, copy, duplicate store, present and/or publish all or any part of your Content, and We shall be free to use such Content in any manner or media whatsoever, on an unrestricted basis and without any attribution or royalties or other compensation to You, including without limitation, within or outside our website, advertisements, in printed media, newspapers.
- 3.1.2. Your telephone conversations, email/chat communications with Us may be recorded/maintained by Us with or without the use of an automatic tone warning device. Any recordings shall be and remain Our sole property and will be accepted by You as conclusive evidence of their content as recorded by Us. You agree that We may deliver copies of transcripts of such recordings to any court, regulatory or government authority, including without limitation, in disputes which may arise between You and Us.
- 3.1.4. Without derogating from the generality of the foregoing, We and our affiliates and agents may collect, store and process information form You or otherwise in connection with the Services for the purpose of complying with FATCA or other Applicable Regulation, including disclosures to governmental authorities. You confirm that this may require the transfer of the information outside of your country of residence.
- 3.2. Communications within the CEZEX Community; Links to Third Party Websites, Newsletters etc.
- 3.2.1. You acknowledge that you are responsible for any Content that you submit or transmit through any of our websites, applications and/or any network status/posts/blogs and any other communications and/or content options available by us, including your responsibility as to the legality, reliability, appropriateness, originality and copyright of any such information or material. Additionally, you represent and warrant that: (i) you own all right title and interest in any Content provided by you, and (ii) the posting of your Content by us (in any manner or media whatsoever, on an unrestricted basis) does not (and will not) violate the privacy rights, publicity rights, copyright, contract rights or any other rights of any individual or make derogatory remarks regarding, defame or otherwise criticize any person or entity. You shall be solely liable for any damage resulting from any infringement or other violation of the copyright, trademarks or other proprietary rights of any individual or entity, and for any other harm or losses resulting from any Content.
- 3.2.2. In our efforts to promote collegial, non-misleading and non-defamatory communications between the users of our community, you are strictly prohibited from: (1) making statements as to your eligibility to provide investment advice, portfolio management and/or any other services and/or activity which may require a license, registration and/or notification in your state of residency and/or in the residency states of our users; (2) making statements that CEZEX and/or its affiliates endorse, maintain any control and/or guarantee the accuracy and/or completeness of the Content published, posted or shared by you with other users; (3) making statements that are abusive, defamatory, harassing, and/or insulting statements to CEZEX, its affiliates, employees, shareholders and/or any of its associates and/or other users or otherwise; (4) making statements that advertise or promote any other online entities and/or you and/or any services; (5) making statements that contain sexually explicit and/or any grossly offensive content, including expressions of bigotry, racism, hatred or profanity or that is hateful, threatening or pornographic; incites violence or that contain nudity or graphic or gratuitous violence; (6) sending or otherwise posting unauthorized commercial communications (such as spam) on our websites, applications and/or utilizing the Services; (7) collecting users' content or information, or otherwise accessing our websites and/or Services, using automated means (such as harvesting bots, robots, spiders, or scrapers); (8) engaging in unlawful multi-level marketing, such as a pyramid scheme, on our websites and/or using our Services; (9) uploading viruses or other malicious code; (10) soliciting personal information and/or login information or access an account belonging to someone else; (11) using our websites and/or Services to do anything unlawful, misleading, malicious, or discriminatory; (12) doing anything that could disable, overburden, or impair the proper working of CEZEX, such as a denial of service attack and/or facilitate or encourage any violations of these Terms and Conditions. All Content relating to the above (including any unsubstantiated performance claims) may be removed from any of our websites. If you violate the above we shall have the right to terminate your account and/or terminate or restrict your access to all or any Services and, if relevant, refund any money in your account.
- 3.2.3. “Frequent Customers” and/or popular users may be subject to additional rules of conduct and restrictions relating to their Content or trading activity which may be imposed by us from time to time either generally or as a part of specified Promotions. If you have been qualified as a “Frequent Customer” and/or popular user please contact Us to receive further information with respect to any such restrictions which may apply to you.
- 3.2.4. We do not undertake to review and monitor all the Content and we do not in any manner endorse, support, sanction, encourage, verify or agree with any such Content. We reserve the right to review, monitor, revise and/or remove any such Content in any way we see fit in our sole discretion. You acknowledge that we may report to government authorities any actions that may be considered illegal and/or as may be required by such authorities. When requested, we may cooperate with government authorities in any investigation of alleged illegal activity. You further confirm and acknowledge that we may also maintain records of all such Content.
- 3.2.5. At certain times, we may provide you with various analytical tools (such as market data, price quotes, exchange rates, news, headlines and graphs), links to other websites, circulate newsletters and/or provide you with third party information for your convenience (together “Information”). By doing so, neither we nor any of our affiliates are endorsing, giving any representation, warranting, guaranteeing, sponsoring or otherwise responsible for the accuracy, correctness, timeliness, completeness or suitability of such Information. Such Information and tools are provided solely to assist you to make your own investment decisions and does not amount to investment advice. It is important to make a distinction between indicative prices which are displayed on charts or elsewhere on our websites and dealable prices which are displayed on our trading platform. Indicative quotes only give an indication of where the market is. Therefore, any prices displayed on any chart made available by us or by a third party will only reflect "indicative" prices and not necessarily actual "dealing" prices where trades can be executed. Our quotes and orders are further discussed elsewhere in these Terms and Conditions. You understand that we are not required to continue to provide or update the above mentioned tools and Information and we may cease to do so at any time. For the avoidance of doubt, we will not be responsible for the termination, interruption, delay or inaccuracy of any Information. You undertake not to enable deep linking or any other form of re-distribution or re-use of the Information. As such, we urge you to read and fully understand the terms and conditions and other policies of such websites, newsletters and information before using them. Past performance is no guarantee of future results and we advise users to carefully review all claims and representations made by other users, advisors, traders, brokers, bloggers, money managers and system vendors before making an investment decision on the basis of any of the above. IN NO EVENT SHALL CEZEX OR ITS AFFILIATES BE RESPONSIBLE OR LIABLE TO YOU OR ANYONE ELSE, DIRECTLY OR INDIRECTLY, FOR ANY DAMAGE OR LOSS ARISING FROM OR RELATING TO ANY USE, CONTINUED USE OR RELIANCE ON ANY SUCH INFORMATION OR TOOLS, INCLUDING WITHOUT LIMITATION, DIRECTLY OR INDIRECTLY RESULTING FROM ERRORS IN, OMISSIONS OF OR ALTERATIONS TO ANY SUCH INFORMATION.
4. RISKS DISCLAIMERS AND LIMITATIONS ON LIABILITY
5. INDEMNIFICATION AND LIMITATION OF LIABILITY
- 4.1. General Risk Statement
You understand that You are using our Services at your own risk. For this reason We condition the use of our services to those who can actually bear the loss of any money invested and who properly understand the associated risks that are inherent to trading derivatives, currencies, securities (including shares, stocks, bonds and/or other debt instruments) commodities, indices and Cryptocurrencies. It is also important to have relevant experience when entering financial contracts and transactions. As You know, the derivatives, securities, indices and Cryptocurrencies market is a dynamic arena and their respective prices are often highly unpredictable and volatile. You should not deal in these products unless you understand their nature and the extent of your exposure to risk. You should also be satisfied that the product is suitable for you in light of your circumstances and financial position. In addition, use of our Services can never be considered a safe investment rather only an investment with a high risk of loss inherently associated with it. Furthermore, our own spread is added to online quotes which makes a trade on our websites even more volatile. We make sure that the maximum risk associated for any user shall not exceed the actual amount of money available in your Account so You cannot lose more than the equity in your account.
- 4.2. Accountability for Each Financial Transaction
By using our Services, You agree to be fully, independently and personally liable for each transaction and/or credit card transaction made on our System through your account, including without limitation, any position automatically opened as a result of our FollowTrading Services. As such, You must make sure that You are the only person with access to your account at all times. You must make sure that no minors have access to your account. If You do not settle a transaction performed through your account You shall be liable to Us and must indemnify Us in the amount necessary to cover the entire cost, whether indirect or direct, of the transaction. In the unlikely event that a contract is entered to acquire or sell a product at a price that does not reflect the market price (such as an event where a technical error such as a bug or defect has caused a malfunction that has affected the price of the transaction), We reserve our right to terminate and cancel any such transaction. We will notify You of our decision to cancel the transaction and explain our reasons to You. On the other hand, You are required to inform Us of any such malfunction should You experience such a malfunction whilst trading on our system.
- 4.3. Restrictions on Financial Transactions
You understand that financial regulations, financial codes, financial ethics and contractual requirements vary worldwide. As such, You understand that ultimately it is your responsibility to make sure that You comply with any and all local regulations, directives, restrictions and laws in your local place of residence before using our Services. We strictly state that We do not permit the use of our Services by users from jurisdiction in which the use of our Services is not permitted. These Terms and Conditions are not offering or soliciting the use of our Services to any one located in a jurisdiction in which the specific use is not authorized or otherwise permitted by local laws. Please note that products on CEZEX may have spreads in some transactions and trades made by using our Services which can increase the cost of the transactions and trades accordingly. By using our Services, You declare that all the funds that You use and invest on our Services do not originate in any way from drug trafficking, abduction, terrorist activity or any other criminal activity that is unlawful or could be considered unlawful by any authority. In the event that We become suspicious that You may be engaging in or have engaged in fraudulent, unlawful or improper activity, including, without limitation, money laundering activities, or conduct otherwise in violation of these Terms and Conditions, your access to the Services may be terminated immediately and/or your account blocked. If your account is terminated or blocked in such circumstances, CEZEX is under no obligation to refund any funds that may be in your account, unless otherwise instructed by a relevant regulatory authority. In addition to terminating your access to the Service and/or blocking your account, We reserve the right to prevent You from accessing any of our other websites or servers, or accessing any other services offered by Us. We shall be entitled to inform the relevant authorities, other online service providers and banks, credit card companies, electronic payment providers or other financial institutions of your identity and of any suspected unlawful, fraudulent or improper activity and You will cooperate fully with Us to investigate any such activity.
- 4.4. Additional Risk Disclosures
It is important that You be fully aware of the following points:
- 4.4.1. If You are trading over alternative trading platform over a third party trading accounts, such trading activities shall be subject to the commissions and fees available to our clients over such platforms and to the terms and conditions applicable to such trading accounts in addition to any and all the terms set forth in these Terms and Conditions. CEZEX and its affiliates shall not be liable for any damage and/or loss resulting from and does not guarantee the execution of any order, the placing of stops, regardless of the entry or closing designation and/or that the trade will be filled at the order price and/or that the trading via such third party trading platform shall be error free, without delays.
- 4.4.2. We reserve the right to block any user from being copied, for whatsoever reason.
- 4.4.3. CEZEX reserves the right to close part, or all, of customers' open positions, in order to facilitate the charge of any fees or amounts due by You. Notwithstanding, You shall be liable for promptly paying such fee(s) and/or amounts to CEZEX.
- 4.4.4. You acknowledge that the trading of certain Instruments on the trading platform may become volatile very quickly and without warning. Due to the high degree of risk involved in trading volatile Instruments, you acknowledge and agree that we reserve the right to close all or any open Transactions with respect to any Instruments that we determine, acting reasonably, are volatile, at the price quoted on the Trading Platform at such time without notice.
- 4.4.5. In the event liquidity providers are unable to provide liquidity to Us for certain instruments/products your order may experience delays in execution or You may not be able to place orders entirely. The size of the order may also impede the speed at which the order is executed. Keep in mind that it is only necessary to enter any order once. Multiple entries for the same order may inadvertently open unwanted positions.
- 4.4.6. While trading on our website and/or applications, You might encounter system errors that are resulted from hardware and/or software failures. The result of any system failure may be that your order is either not executed according to your instructions, executing with account balance errors and discrepancies or not executed at all. CEZEX will not be liable for the resulting errors in account balances. CEZEX reserves the right to make the necessary corrections or adjustments on the account involved.
- 4.4.7. High leverage allows trading in certain products with relatively modest Margins or guarantees in relation to the scope of the product. The result of this is that even a slight fluctuation of the underlying market or instruments could mean substantial gains when these fluctuations are in your favor, but could also mean considerable losses if the fluctuations are to your detriment. No system exists that could assure you that the products you trade will bring you great benefits, nor is it possible to guarantee, that your transactions will yield favorable results.
- 4.4.8. Even though the derivatives, securities, indices and Cryptocurrencies markets may be liquid as compared with other financial instruments or markets, the market conditions might at times render the execution of an order or of a limit on an order (for example by placing a stop) at a stipulated price impossible. Accordingly, even though the extent of the losses could be subject to an agreed limit, the risk of incurring losses could be higher, and that loss could occur in a relatively short period of time.
- 4.4.9. In the event of the price of one of your transactions moving against you, in addition to the requirement to deposit additional guarantees or Margin as may be required by CEZEX, CEZEX reserves the right to close the outstanding balances without your consent.
- 4.4.10. Under abnormal market conditions, the price of underlying market or instruments may fluctuate rapidly to reflect unforeseeable events that cannot be controlled either by us or by you.
- 4.4.11. It is important to make a distinction between indicative prices which are displayed on charts and dealable prices which are displayed on our trading platform. Indicative quotes only give an indication of where the market is. Because the derivatives products and Cryptocurrencies market are decentralized, meaning it lacks a single central exchange where all transactions are conducted, each market maker may quote slightly different prices. Therefore, any prices displayed on any chart made available by us or by a third party will only reflect "indicative" prices and not necessarily actual "dealing" prices where trades can be executed.
- 4.4.12. All statements with respect to real money accounts will be open during the weekend and all traders are welcome to view their trading account info. CEZEX reserves the right not to offset contracts carried over the weekend shortly after markets are open. CEZEX will allow offsetting contracts carried over the weekend when market liquidity conditions are reasonable.
- 4.4.13. The risk information presented here does not reflect all of the risks as well as other important aspects intrinsic to your transactions with respect to derivatives, securities, indices and Cryptocurrencies. Therefore, before starting to trade, You should learn the specifics of trading on such transactions in detail or seek further advice.
- 4.4.14. There are a series of inherent risks with the use of the mobile trading technology such as the duplication of order instructions, latency in the prices provided, and other issues that are a result of mobile connectivity. Prices displayed on the mobile platform are solely an indication of the executable rates and may not reflect the actual executed price of the order. Our mobile feature utilizes public communication network circuits for the transmission of messages. We shall not be liable for any and all circumstances in which You experience a delay in price quotation or an inability to trade caused by network circuit transmission problems or any other problems outside our direct control, which include but are not limited to the strength of the mobile signal, cellular latency, or any other issues that may arise between You and any internet service provider, phone service provider, or any other service provider. Please further note that some of the features available on the trading platform or our Social Trading Features may not be available on our mobile feature.
- 4.5. Risks Associated with Social Trading
Social Trading Features are associated with various risks and You are urged to carefully read and consider the following risks before utilizing our Social Trading Features:
- 4.5.1. Automated trading execution whereby trades are opened and closed in your account without your manual intervention.
- 4.5.2. In making a decision to Copy a specific trader, account, portfolio and/or strategy, You have considered your entire financial situation including financial commitments and you understand that using Social Trading Features is highly speculative and that you could sustain significant losses exceeding the amount used to copy a trader or traders.
- 4.5.3. Social Trading Features are provided by Us solely for informational purposes. We and our affiliates and their employees and agents are not investment or financial advisers. IF YOU MAKE INVESTMENT DECISIONS IN RELIANCE ON INFORMATION WHICH IS AVAILABLE ON OUR WEBSITES OR AS A RESULT OF THE USE OF THE SOCIAL TRADING FEATURES, YOU DO SO AT YOUR OWN RISK AND CEZEX GROUP LTD. AND ITS AFFILIATES, THEIR EMPLOYEES AND ITS AGENTS WILL NOT BE LIABLE FOR ANY LOSSES THAT YOU MAY SUSTAIN.
- 4.5.4. YOU SHOULD NOT MAKE ANY INVESTMENT DECISION WITHOUT FIRST CONDUCTING YOUR OWN RESEARCH. YOU ARE SOLELY AND EXCLUSIVELY RESPONSIBLE FOR DETERMINING WHETHER ANY INVESTMENT, OR STRATEGY, OR ANY OTHER PRODUCT OR SERVICE IS APPROPRIATE OR SUITABLE FOR YOU BASED ON YOUR INVESTMENT OBJECTIVES AND PERSONAL AND FINANCIAL SITUATION.
- 4.5.5. A copied trader's, account’s, portfolio’s and/or strategy’s positions (with respect to any of our financial instruments) shall be copied in an amount equal to the lower of either the minimum position amount as shall be set by CEZEX from time to time or the proportional amounts of the copied trade to the realized equity of the copied trader as the basis for the proportions of copied trades. Such positions shall have the same leverage, stop loss and take profit, to the maximum extent possible. Trades below the minimum trade amount shall not be opened. All such positions shall be modified and/or closed automatically if and when modified/closed by the copied trader, for whatsoever reason, without providing any further notice and without any action on your part. You should be able and prepared to bear the loss of the entire investment You made in such a copied trader. You are fully responsible for any losses You may sustain as a result of our automatic execution of instructions generated as a result of the utilizing of any of the Social Trading Features.
- 4.5.6. If You place additional trades in your account or You modify or cancel an order generated by a Social Trading Feature You may achieve a materially different result than the user that You copied. Unopened copied trades in amounts lower than the minimum trade may also result in different results. Cash-out and withdrawal by the copied trader may also generate a materially different result than the user that You copied as it may affect the FollowTrading proportions.
- 4.5.7. Any past performance of our users, risk score, statistics and any other information with respect to users appearing on our websites and applications are not indicative of future results and should be considered as hypothetical as more fully described below. It is important to understand that risk scores, statistical information and historical performance are not a guarantee of future performance. NO REPRESENTATION OR GUARANTEE IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN AND/OR THAT A RISK SCORE OF A COPIED USER SHALL NOT IN FACT BE HIGHER. When reviewing the Content, portfolio, financial performance information, opinions or advice of another registered user, You should not assume that the user is unbiased, independent or qualified to provide financial information or opinions. CEZEX does not guarantee any order including the placing of stop orders such as Copy Stop Loss. Accordingly, regardless of the entry or closing designation, CEZEX does not guarantee that the trade will be filled at the order price/stop loss percentage and you may lose more than the original amount used to copy such trader, however you cannot lose more than the equity in your account.
- 4.5.8. PAST PERFORMANCE AND/OR RISK SCORES SHOULD BE CONSIDERED AS HYPOTHETICAL PERFORMANCE RESULTS. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS. NO REPRESENTATION OR GUARANTEE IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THE PAST PERFORMANCE OR RISK SCORE SHOWN. THE ACTUAL PERCENTAGE GAINS/LOSSES EXPERIENCED BY INVESTORS WILL VARY DEPENDING ON MANY FACTORS, INCLUDING BUT NOT LIMITED TO: STARTING ACCOUNT BALANCES (DEPOSITS AND WITHDRAWALS), MARKET BEHAVIOR, MINIMUM TRADE SIZE, THE INVESTOR'S ACCOUNT SETTINGS AND THE ACTUAL PERFORMANCE OF THE COPIED USER.
- 4.5.9. ACCORDINGLY, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL/PAST PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.
- 4.5.10. NO ASPECT OF THE INFORMATION AND/OR SOCIAL TRADING FEATURE PROVIDED AND/OR MADE AVAILABLE ON OUR WEBSITES IS INTENDED TO PROVIDE, OR SHOULD BE CONSTRUED AS PROVIDING, ANY INVESTMENT, TAX OR OTHER FINANCIAL RELATED ADVICE OF ANY KIND. YOU SHOULD NOT CONSIDER ANY SUCH CONTENT AND/OR ANY SUCH FEATURE TO BE A SUBSTITUTE FOR PROFESSIONAL FINANCIAL AND/OR INVESTMENT ADVICE. IF YOU CHOOSE TO ENGAGE IN TRANSACTIONS BASED ON CONTENT ON THE WEBSITE AND/OR ELECT TO COPY SPECIFIC TRADERS AND/OR TRADES, THEN SUCH DECISIONS AND TRANSACTIONS AND ANY CONSEQUENCES FLOWING THEREFROM ARE YOUR SOLE RESPONSIBILITY. WHILE INDIVIDUAL PARTICIPANTS MAY OFFER INVESTMENT ADVICE OR OPINIONS AND/OR EFFECT A TRANSACTION WHICH MAY BE SUBSEQUENTLY COPIED BY OTHER TRADERS, SUCH ADVICE, OPINIONS OR TRADES AMOUNT TO NOTHING MORE THAN EXCHANGES BETWEEN PERSONS WHO MAY BE ANONYMOUS OR UNIDENTIFIABLE OR SIMPLY THE EXECUTION OF A TRADE BY SUCH TRADERS. CEZEX GROUP LTD. AND ITS AFFILIATES DO NOT PROVIDE INVESTMENT ADVICE DIRECTLY, INDIRECTLY, IMPLICITLY, OR IN ANY MANNER WHATSOEVER BY MAKING SUCH INFORMATION AND/OR FEATURES AVAILABLE TO YOU. YOU SHOULD USE ANY INFORMATION GATHERED FROM HERE AND/OR UTILIZE THE SOCIAL TRADING FEATURES ONLY AS A STARTING POINT FOR YOUR OWN INDEPENDENT RESEARCH AND INVESTMENT DECISION MAKING.
- 4.6. Additional Risks and Disclosures Associated with Trading Securities and Cryptocurrencies.
In addition to and without derogating from the general risk disclosure set forth in these Terms and Conditions, We condition the ability trade in Cryptocurrencies and securities (including shares, stocks, ETFs, bonds and/or other debt instruments and public issues) to those who can actually bear the loss of any money invested and who properly understand the associated risks that are inherent to such financial instruments. This notice cannot disclose all of the risks and other significant aspects with respect to securities and Cryptocurrencies. In that respect we note as follows:
- 4.6.1. When effecting a transaction in a Securities and/or Cryptocurrencies, you shall have title or ownership (beneficial or otherwise) in the security or cryptocurrency.
- 4.6.2. YOU HEREBY FURTHER ACKNOWLEDGE THAT THE CRYPTOCURRENCIES MARKET IS DECENTRALIZED, NON-REGULATED AND DETERMINED BY DEMAND AND SUPPLY ONLY. THE VALUE OF THE CRYPTOCURRENCIES IS EXTREMELY VOLATILE AND THE PRICE OF CRYPTOCURRENCIES CAN UNPREDICTABLY INCREASE OR DECREASE OVER A SHORT PERIOD OF TIME. ACCORDINGLY, CRYPTOCURRENCIES SHOULD BE SEEN LIKE AS AN EXTREMELY HIGH RISK ASSET AND YOU SHOULD NEVER INVEST FUNDS THAT YOU CANNOT AFFORD TO LOSE IN A CRYPTOCURRENCIES. BEFORE EXECUTING A CRYPTOCURRENCIES ORDER PLEASE TAKE INTO ACCOUNT THAT: (I) IN SOME CASES WE RELY ON OUR LIQUIDITY PROVIDERS (SOME UNREGULATED) FOR CRYPTOCURRENCIES LIQUIDITY (II) CEZEX CURRENTLY ALLOWS TRADING IN CRYPTOCURRENCIES OVER THE WEEKEND AND IT RESERVES THE RIGHT NOT TO DO SO. SHOULD CEZEX SO ELECTS, TRADING IN CRYPTOCURRENCIES SHALL BE ALLOWED ONLY FROM MONDAY THROUGH FRIDAY. GIVEN THAT, THERE MAY BE A SIGNIFICANT DIFFERENCE BETWEEN FRIDAY'S CLOSE AND SUNDAY'S OPEN. ALL SUCH FACTORS MAY RESULT IN YOU EITHER NOT COMPLETING AN ORDER ON A SPECIFIC TRADING DAY OR COMPLETING AN ORDER ON A SUBSTANTIALLY LESS FAVORABLE PRICE.
- 4.6.3. For more information about risks associated with orders for securities and/or Cryptocurrencies and the bid/ask prices for such orders see other relevant sections in these Terms and Conditions above.
- 4.6.4. In some transactions, brokers act as a counterparty in such transactions conducted on the trading platform and, therefore, act as the buyer when you offer to sell an Instrument and the seller when you offer to buy such instrument.
- 4.6.5. In some transactions, when effecting such transactions, the broker may or may not have acquired the underlying security, Cryptocurrencies with respect to such transaction for its own account to cover said transactions. Should the broker elect to acquire such security, Cryptocurrencies or derivative for its own account, it may or may not exercise or refrain from exercising its rights as a security holder (directly or through one or more intermediaries) without notifying You and without taking Your interests into account.
- 4.6.6. Dividends, Takeovers and Transformations (including events such as share consolidations/splits, mergers, takeovers, spinoffs, MBO’s, de-listings, etc.). Depending on the circumstances of each event, We will make our best efforts to adjust your Account in respect of a dividend, takeovers and Transformations (including events such as share consolidations/splits, acquisitions, mergers, takeovers, spinoffs, MBO’s, de-listings, etc.) attributable to any specific product/instrument, which adjustment shall be calculated by us, net of any taxes which may apply with respect thereto. In doing so we will make an effort to effect such adjustment on the basis of good faith and fairness and, where appropriate, by taking such action as is consistent with market practice and/or taking into account the treatment we may receive from our counterparties or any relevant third party. However, we reserve the rights to close out any open positions at the market price immediately prior to the event taking place. As a result of such event, if the security and/or Cryptocurrency or the product /Instrument becomes subject to an adjustment as the result of a takeover or transformation action, we may determine in our sole discretion (but are not obligated to) the appropriate adjustment to be made to the price or contract quantity as we consider appropriate to account for said event. Such adjustment shall represent the economic equivalent of the rights and obligations of us and you immediately prior to the action.
- 4.6.7. Delisting and/or non-supported Cryptocurrencies. If at any time any of the Cryptocurrencies that forms the subject of your order is delisted and/or we no longer support the trading in such Cryptocurrencies for any reason, then the applicable order will be immediately closed. If CEZEX is notified that a Cryptocurrency you hold in your Account is likely to be delisted and/or removed and/or canceled and CEZEX believes that it shall not be able to trade in such Cryptocurrencies, CEZEX shall make an effort to sell the Cryptocurrencies on your behalf at such time and price, and in such manner, as it determines.
- 4.6.8. Operation of Cryptocurrency Protocols and Transformations. CEZEX does not own or control the underlying software protocols which govern the operation of Cryptocurrencies available for trading in our platform. In general, the underlying protocols are open source and anyone can use, copy, modify, and distribute them. By using CEZEX’s Services, you acknowledge and agree:
(i) that CEZEX is not responsible for operation of the underlying protocols and that CEZEX makes no guarantee of their functionality, security, or availability; and (ii) that the underlying protocols are subject to sudden changes in operating rules (“Forks”) and/or other events and/or transformations, and that such forks, transformations and/or other events may materially affect the value, function, and/or even the name of the Cryptocurrency CEZEX holds for your benefit. In such an event, you agree that CEZEX may temporarily suspend CEZEX Services operations (with or without advance notice to you) and that CEZEX may, in its sole discretion, (a) configure or reconfigure its systems or (b) decide not to support (or cease supporting) the forked protocol entirely and/or the Cryptocurrency resulting from such event. According to our sole discretion we may decide (but for avoidance of any doubt we are not obligated to do so) to adjust your account in respect of a Fork/event depending on the circumstances of each event attributable to any specific Cryptocurrency held by You. Such adjustment shall be calculated by us, net of any taxes which may apply with respect thereto. In doing so we will make an effort to effect such adjustment on the basis of good faith and fairness and, where appropriate, by taking such action as is consistent with market practice and/or taking into account the treatment we may receive from our counterparties or any relevant third party. You acknowledge and agree that CEZEX assumes absolutely no responsibility whatsoever in respect of an unsupported branch of a forked protocol and/or the Cryptocurrency resulting from such event.
- 4.6.9. Insolvency. If an issuer of a security goes into insolvency or is otherwise dissolved, we shall close any such of your open transactions. The closing date shall be the date of insolvency.
6. TECHNICAL FEATURES AND REQUIREMENTS
- 5.1. YOU EXPRESSLY AGREE THAT YOUR USE OF THE WEBSITE, AND ANY PUBLICATIONS, PRESENTATIONS, FINANCIAL TRADING INFORMATION, PRICING DATA, TRADE DATA, PERFORMANCE INFORMATION, BLOGS, POSTINGS, OR OTHER INFORMATION, CONTENT, SERVICES AND MATERIALS CONTAINED IN, ACCESSED VIA, OR DESCRIBED ON OUR WEBSITE, IS AT YOUR OWN RISK, AND THAT ALL SUCH INFORMATION, CONTENT, SERVICES AND MATERIALS ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS.
- 5.2. TO THE FULL EXTENT PERMISSIBLE BY APPLICABLE LAW, WE MAKES NO, AND HEREBY DISCLAIMS ALL, REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, AS TO THE AVAILABILITY, OPERATION AND USE OF OUR WEBSITES OR THE INFORMATION, CONTENT, MATERIALS OR SERVICES ON OR ACCESSED VIA OUR WEBSITES, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT, AND IMPLIED WARRANTIES ARISING FROM COURSE OF DEALING OR COURSE OF PERFORMANCE. NEITHER THE WEBSITE, NOR ANY INFORMATION, CONTENT, MATERIALS, OR SERVICES AVAILABLE VIA THE SITE, CONSTITUTES OR IS INTENDED TO CONSTITUTE, OR SHOULD BE CONSTRUED AS, A SOLICITATION OR ANY OFFER TO BUY AN INTEREST IN ANY SECURITY, INVESTMENT ADVICE OR A RECOMMENDATION OR PROMOTION OF ANY TRANSACTION OR OTHER FINANCIAL PRODUCT, INVESTMENT MANAGER, OR TRADING OR INVESTMENT STRATEGY. IN ADDITION, WE DO NOT REPRESENT OR WARRANT THAT THE INFORMATION ACCESSIBLE VIA THE SITE IS ACCURATE, COMPLETE, RELIABLE OR CURRENT AND WE ARE NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS THEREIN OR FOR ANY ADVERSE CONSEQUENCES RESULTING FROM YOUR RELIANCE ON ANY ASPECT OF THE SITE. FURTHER, WE MAKE NO REPRESENTATIONS AND WARRANTIES THAT OUR WEBSITES WILL BE UNINTERRUPTED, SECURED, OR FREE OF ERRORS OR VIRUSES, OR OTHER HARMFUL COMPONENTS.
- 5.3. IN NO EVENT SHALL WE OR OUR AFFILIATES, OR THE DIRECTORS, OFFICERS, EMPLOYEES, AGENTS OR REPRESENTATIVES OF CEZEX GROUP OR ITS AFFILIATES (THE "CEZEX PARTIES") BE LIABLE TO YOU OR ANY THIRD PARTY FOR DAMAGES OF ANY KIND ARISING OUT OF THE USE OF, ACCESS TO, RELIANCE ON, INABILITY TO USE OR IMPROPER USE OF OUR WEBSITES, ANY INFORMATION POSTED ON OUR WEBSITES BY ITS USERS, OR ANY OTHER INFORMATION, CONTENT, MATERIALS OR SERVICES AVAILABLE ON OUR WEBSITES (INCLUDING, BUT NOT LIMITED TO, ANY DIRECT, INDIRECT, SPECIAL, PUNITIVE, INCIDENTAL OR CONSEQUENTIAL DAMAGES OR DAMAGES FOR LOSS OF PROFITS, GOODWILL OR REVENUE, BUSINESS INTERRUPTION, OR LOSS OF DATA), EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, AND REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, TORT, OR OTHERWISE.
- 5.4. IN ANY EVENT, AND NOTWITHSTANDING, THE MAXIMUM LIABILITY THAT YOU MAY CLAIM FROM US FOR ANY REASON SHALL BE NO MORE THAN THE ACTUAL SUM OF MONEY THAT YOU DEPOSITED IN YOUR ACCOUNT FOR THE PURPOSE OF TRADING THAT MAY HAVE BEEN THE BASIS FOR ANY ACCUMULATED LIABILITY THAT YOU INCUR. CERTAIN STATE LAWS DO NOT PERMIT LIMITATIONS ON IMPLIED WARRANTIES OR THE EXCLUSION OR LIMITATION OF CERTAIN TYPES OF DAMAGES, AND THUS SOME OR ALL OF THE DISCLAIMERS, EXCLUSIONS OR LIMITATIONS ABOVE MAY NOT APPLY TO YOU.
7. PROHIBITED TRADING TECHNIQUES
- 6.1. You acknowledge that the Services and/or the Software are beta versions at the stage of development. Consequentially, the Services and/or the Software are instable and may not work error free. We do not warrant that the functions contained in the Services and/or the Software will meet Your requirements or that the operation of the Services and/or the Software will be uninterrupted or error free. Moreover, We reserve the right, at any time and for any reason, to discontinue, redesign, modify, enhance, change, patch the software and/or the Services including without limitation, the structure, specifications, "look and feel," navigation, features and other elements of the Software and/or the Services or any part thereof.
- 6.2. Technical Requirements to Use Our Services. You must provide and maintain adequate technical means on which You install our software and/or access our Services. These technical means must include at least a personal computer/mobile device/tablet, internet access by any means and telephone or other access line. Access to the internet is an essential feature and You shall be solely responsible for any fees necessary in order to connect to the internet. Furthermore, as You are using your personal computer in order to access our Services You are strictly and solely liable for the integrity and proper storage of any data associated with our Services. By using our Services, You represent and warrant to Us that You have installed and implemented appropriate means of protection relating to the security and integrity of your computer and that You have taken appropriate action to protect your system from computer viruses or other similar harmful or inappropriate materials, devices, information or data. We will not be liable to You in the event that your computer system fails, damages, destroys and/or formats your records and data. Furthermore, if You incur delays and any other form of data integrity problems that are a result of your hardware configuration or mismanagement, We shall not be liable. You further undertake to protect Us from any wrongful transmissions of computer virus or other similarly harmful or inappropriate material or device to our system from your personal computer.
- 6.3. Technical Problems and Difficulties. As a provider of technology, We remind You that in some circumstances the use of the internet can at times be unreliable and at times You may experience trouble connecting, although is now common practice that generally the use of the internet is now regarded to be very reliable. Notwithstanding, and recognizing the above, You hereby undertake that We will not be liable, and You will not hold or seek to hold Us or any of our officers, employees agents or service providers liable, for any technical problems, system failures and malfunctions, communication line failures, equipment or software failures or malfunctions, system access issues, system capacity issues, high internet traffic demand, security breaches and unauthorized access, and other similar computer problems and defects. We do not represent, warrant, guarantee or claim that You will be able to access or use our Service at all times and from any location. Moreover, if you are travelling to any country in which our Services may not be available or are blocked, you have limited or no access to our Services. Neither do We represent, warrant, claim or guarantee that our Services will be uninterrupted and error-free at all times. Furthermore, We make no warranties for merchantability or fitness for a particular purpose.
- 6.4. Disconnection Policy. If You are suddenly disconnected from our Services whilst actively trading online, We will keep your positions open until You can reestablish your connection or trading ceases.
- 6.5. Maintenance Shut Downs. We maintain our continuing right to shut down our operations and close our Services to our customers at any time. We may do so at any given time, without notice. If We do so, We maintain the right to close all open transactions (regardless of any ongoing positions and profit margins) and to conclude the transactions at fair and market value quotes so that our customers will not have any ongoing claims from Us. Furthermore, at any given time, at our sole discretion, We reserve the right to impose volume limits on customer accounts. Contract payouts shall be determined by CEZEX by reference to the daily values reported on this website relevant to the interbank trading data received by CEZEX for Forex or derivative products quotes, subject to the provision that CEZEX shall have the right to make corrections to such data in the event of mispriced or typographically incorrect data.
8. CONFLICTS OF INTERESTS
- 7.1. Circumvention & Reverse Engineering. You shall not unlawfully access or attempt to gain access, reverse engineer or otherwise circumvent any security measures that We have applied to our system. If, at our sole discretion, You are in breach of this clause, We may terminate your access to the Service immediately and/or have your account blocked, and CEZEX may inform Interested Third Parties of your breach of this clause. We have, and will continue to develop any tools necessary to identify fraudulent or unlawful use of our Service.
- 7.2. Artificial Intelligence Software. It is absolutely prohibited to use any software, at our sole discretion, which purpose is to apply any kind of artificial intelligence analysis to our system relating to the use of our Service. In the event that We determine, at our own discretion, that artificial intelligence software has been used We reserve our right to take action as We see fit, including completely blocking access to the Service and/or terminating the user account. CEZEX reserves the right to seize any profits and/or revenues generated directly or indirectly by exercising prohibit trading activity as described in this Section.
- 7.3. Abusive trading technique. Internet, connectivity delays, market events and price feed errors sometimes create a situation where the prices displayed on the CEZEX trading platforms do not actually reflect the market rates, either generally as a result of connectivity delays, upon the occurrence of a market event or an abnormal trading conditions. Trading strategies aimed at exploiting errors in prices and/or concluding trades at off-market prices, or taking advantage of these internet delays (such a scalping or sniping), such trading strategies are not permissible on our trading platform. You are also prohibited from entering into transactions or combinations of transactions which taken together or separately are for the purpose of manipulating our platform for gain, such as such as holding long and short positions in the same or similar instruments at similar times either by you or by you acting in concert with others. If We can reasonably demonstrate that you, based on your trading strategy or other behavior, deliberately and/or systematically exploited or attempted to exploit such errors in prices, off-market prices and/or performed prohibited trading activities, we are entitled to take one or more of the following counter measures within 30 days as of the time We have identified such techniques: (i) adjust the price spreads available to you; (ii) restrict or delay your execution and/or your access to streaming, instantly tradable quotes, including by providing manual quotations only; (iii) reclaim from your account any historic trading profits that we can demonstrate have been gained through such abuse at any time; and/or (iv) terminate the account immediately by giving written notice. Any dispute arising from such quoting or execution errors will be resolved by CEZEX at its sole and absolute discretion.
- 8.1. Under the ABACA Rules we are required to have in place arrangements with a view to taking all reasonable steps to prevent conflicts of interest constituting or giving rise to a material risk of damage to the interests of our clients. We have established a comprehensive conflicts of interest policy to identify and manage such actual or potential conflicts of interest. Our conflicts of interest policy is available upon request. Where we are unable to prevent a potential conflict of interest, we will notify you in writing about the nature and sources of potential conflicts of interest, so that you can make an informed decision on the Services or recommendations involved.
- 8.2. You accept and confirm that a conflict of interest may arise when the interest of CEZEX and its affiliates competes or may appear to compete with your interests under these Terms and Conditions.
- 8.3. Specifically you hereby acknowledge and confirm that:
- 8.3.1. We may assign or transfer the execution of Your orders to another member of the CEZEX group or companies;
- 8.3.2. We may execute at the same time orders by different customers that are opposite to one another;
- 8.3.3. We may establish business, including without limitation, trading relationships with other issuers of financial instruments and We may have a financial interest in such instruments;
- 8.3.4. We act as a market maker and in this context there may be inherent conflicts of interest; and
- 8.3.5. We may compensate and/or share our revenues from your activity with our affiliates, partners and/or other similar parties performing marketing activities on our behalf. For instance, for information as to compensation paid to our affiliates please see http://www.CEZEXpartners.com/. You hereby further acknowledge that We also may compensate other users who You have elected to follow and/or copy.
9.4. Severability. If any part of these Terms and Conditions is unlawful, void or determined to be unenforceable, that part will be deemed severable and will not affect the validity and enforceability of any remaining provisions.
9.5. Modifications to These Terms and Conditions. No provision of these Terms and Conditions can be amended by You, in any respect, except in a writing by an officer of CEZEX that has been confirmed by CEZEX’s secretary, and in entering into these Term and Conditions, You have not relied on, or been otherwise induced by, any matter not contained in such writing. For the avoidance of doubt, our customer support department employees are not authorized to amend or to waive the terms of these Terms and Conditions in any respect. We reserve the right to amend, revise, modify, and/or change these Terms and Conditions at any time.
9.6. Assignment. Subject to applicable regulations, upon notice to You, CEZEX may assign these Terms and Conditions and/or any of our rights and/or obligation hereunder to another registered or authorized or unauthorized investment professional.
9.7. Contact details and customer support services. CEZEX is committed to provide the most professional customer support services. You are welcome to contact Us in any question and/or concern You may have in the following contact methods:
- 9.1. Taxation. You hereby acknowledge and understand that We do not collect any taxes for any government authority in any form or manner and You further understand that it is your own responsibility to calculate and pay all applicable taxes applicable in your country of residence arising as a result of your trading activity on our Services. Notwithstanding the above and without derogating in any way from your sole, exclusive and personal obligation to pay taxes in your local jurisdiction, You unequivocally agree that We may withhold and deduct any taxes due under applicable law and regulations that may arise from the results of your investment on our system. All amounts extracted from your account are "gross amounts", from which We may deduct any such taxes if necessary under the applicable law. In such an event, You shall have no claim towards CEZEX with regard to any such deductions.
- 9.2. Governing Law & Jurisdiction. These Terms and Conditions shall be governed by and construed in accordance with the laws of Philippines notwithstanding any principles of conflicts of law. By using our Services You agree to recognize all electronic and magnetic data and documentation as admissible evidence when settling a dispute regarding any trades and investments. The competent courts in Manila, Philippines shall have sole and exclusive jurisdiction regarding any dispute or claim arising hereunder.
- 9.3. Termination of these Terms and Conditions
- 9.3.1. We reserve the right to terminate these Terms and Conditions and your account and registration (including your username and password) in the following cases:
- If for any reason We decide to discontinue to provide the Service, by providing at least a 3 (three) calendar days’ notice (which may be provided by email, facsimile etc.);
- If We believe that You have breached any of the terms of these Terms and Conditions, immediately without notice;
- If your use of the Service has been in any way improper or breaches the spirit of these Terms and Conditions; or
- an issuance if an application, order, resolution or other announcement in relation to the bankruptcy or winding-up proceedings in which You are involved, immediately without notice;
- the death of the user, immediately without notice
- 9.3.2. You may terminate these Terms and Conditions and your account and registration (including your username and password) at any time by sending an email to such termination to take effect upon CEZEX terminating your account and registration (including username and password), which shall occur within 7 calendar days after receipt of your email on our servers, provided that You shall remain responsible for any activity on your account between sending Us an email and the termination of your account by Us.
If these Terms and Conditions are terminated for any reason due to suspected misconduct by the user, CEZEX reserves the right to withhold any funds in the account until the matter is resolved. Any decision made by CEZEX regarding the matter will be final.
CEZEX Trading Limited
29F No 312 4th Avenue Corner 30th Avenue Street, Taguig, Manila, Philippines
Contact Us: Technical questions, troubleshooting - www.cezex.io/*
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