This Agreement is entered into by and between Aitrades on the one part (the “Company”) and the Client who has registered for a trading account with the Company and deposited funds on the other part.
The Company will provide Investment and Ancillary Services covered by this Agreement to the Client, through its online electronic system (hereinafter called the “Trading Platform”).
The Company will offer Services to the Client at the absolute discretion of the Company subject to the provisions of section 7 below.
The Company reserves the right to register and operate other website(s) for identifying suitable opportunities and creating consumer interest and awareness towards the Services to specific countries, which contain information and disclosures to the Clients and prospective clients in a foreign language.
The Company may provide all company documents in languages other than English for informational purposes only. Any translations provided do not bind the Company legally and the Company is not responsible for the accuracy of the information therein. The Client should also refer to the Website for information on the Company and its policies.
The terms of this Agreement shall be considered accepted unconditionally by the Client upon the Company’s receipt of an advance payment made by the Client in accordance with this Agreement. As soon as the Company receives the Client's advance payment, every operation made by the Client on the Trading Platform shall be subject to the terms of this Agreement and other documentation/information on the Website.
Subject to the Company’s final approval and upon the Client funding his account, the Client enters into a legal and binding contract with the Company.
By accepting this current agreement, the Client confirms that they are able to receive information, including amendments to the present agreement either via email or through the Website.
WHEREAS the Client wants to make use of the Services provided by the Company, having agreed to the terms and conditions stated herein and completed the Client’s information required to activate the Trading Account.
In this Agreement, except where the context otherwise requires, the following terms shall have the following meaning:
“Agreement” means the present Agreement including any Annexes and/or Appendices attached herein as this may, from time to time, be amended or replaced.
“Appendix” means the Appendices of the Agreement as these may, from time to time be amended or replaced, which constitute an integral part of this Agreement.
“Annex” means the Annexes of the Agreement as these may, from time to time be amended or replaced, which constitute an integral part of this Agreement.
“Ask” means the higher price in a quote. The price the Client may buy at.
“Bid” means the lower price in a quote. The price the Client may sell at.
“Client” means a natural person, accepted by the Company as its Client to whom Services will be provided by the Company under the Terms of the present agreement. The Company only accepts natural persons as Clients who reside in the EEA except Belgium.
"Cryptocurrency"means a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets, such as Bitcoin and Ethereum.
"Cryptocurrency Network" means a decentralized, independent, public peer-to peer network which functions as a digital ledger of transactions in Cryptocurrencies.
‘’Underlying Market’’ means an exchange, Market Maker, Retail Service Provider and/or other similar body and/or liquidity pool on which the Cryptocurrencies are traded as the context requires;
“Digital Option Contract (DOC)” means a type of derivative instrument where the Client earns a payout if he correctly predicts the price movement of the underlying asset at the time of the option’s expiry. The prediction can be made as to whether the value of the underlying asset will fall above or below the strike price at time of expiration.
“Durable Medium” means any instrument, which enables the Client to store information addressed personally to the Client, in a way accessible for future reference and for a period of time adequate for the purposes of the information and which allows the unchanged reproduction of the information stored.
“Exchange” means any Regulated Market.“Execution” means the execution of Client order(s) by the Company acting as the Client's counterparty
as per the terms of the present agreement.“Equity” means the balance plus/minus any profit/loss that derives from any open positions.
“GDPR” means Regulation (EU) 2016/679 of The European Parliament And of The Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data.
“KYC documents” means the documents of the Client that include, inter alia, the passport or ID and utility bill of the Client.
“Margin Level”means the minimum amount of equity a client needs to maintain an open position which is calculated as Equity/Margin.
“Market” means the market on which the Financial Instruments are subject to and/or traded on, whether this market is organized / regulated or not anywhere in the world.
‘’Market Maker’’, ‘’Retail Service Provider’’ means a firm that provides on request buy and sell prices for Cryptocurrencies.
“Operating (Trading) Time” means the period of time within a calendar week, where the trading terminal or platform of the Company provides the opportunity of trading operations. The Company reserves the right to alter this period of time as it deems fit, upon notification to the Client.
“Retail Client” means a Client who is not a “Professional Client” or an “Eligible Counterparty” under the meaning of the EU Markets in Financial Instruments Directive (hereinafter - “MiFID II”) and in accordance to the Investment Services and Activities and Regulated Markets Law L. 87(Ι)/2017.
“Over-the-Counter (OTC)” means off-exchange trading i.e. the Financial Instruments offered by the Company are executed outside of a regulated exchange or Trading Venue.
“Parties” means the two parties to the Agreement i.e. the Company and the Client.“Password” means the password chosen, at the request of the Company, by the Client for accessing
the Company’s Trading Platform.
“Prices” means the prices offered to the Client for each transaction which may be changed without prior notice. Where this is relevant, the “Prices” given through the Trading Platform include the Spread (see definition below).
“Services” means the services provided by the Company under this Agreement as defined in paragraph 2 to the Client through the Trading Platform.
“Spread” means the difference between the purchase price Ask (rate) and the sale price Bid (rate) at the same moment. For avoidance of doubt, a predefined spread is for the purposes of this Agreement assimilated commission.
“Transaction” means the opening or closing of any offer to either Buy or Sell a Financial Instrument effected in the Client’s Trading account. The Company executes Clients’ orders as the principal to the transaction, and is always the counterparty in the transaction.
“Trading Account” means unique personified register (account) of all the transactions/ operations on the trading platform of the Company.
“Trading Platform” means all programs and technology that present quotes in real-time, allow the placement/modification/deletion of orders and calculate all mutual obligations of the Client and the Company.
“Username” means the username chosen, at the request of the Company, by the user for accessing the Company’s Trading Platform.
Any term used in this Agreement and not otherwise interpreted, shall have the meaning attributed thereto in the Law and/or any EU Directive.
Headings of the paragraphs shall be used solely for ease of reference and shall not affect the contents and interpretation of the Agreement.
Unless the context otherwise requires, reference to persons shall also include legal persons, the singular shall include the plural and vice-versa and either gender shall include the other.
Reference to any agreement (including without limitation, this Agreement) or to any other document, shall be deemed to include references to them as these may from time to time be amended, expanded or replaced and to all agreements and documents, which are declared to be supplementary to them or are attached thereto.
The Company offers the following Cryptocurrency services: 2.1 CFDs on Cryptocurrencies
CFDs on Cryptocurrencies, where the Client can enter into short/sell transactions in relation to a CFD contract on an underlying Cryptocurrency and which is traded over the counter (“OTC”) i.e. concluded outside a regulated exchange or venue and between the Clients and the Company where the Company agrees to settle in cash the performance of the Cryptocurrency the Clients decides to speculate on.
It should be noted that the Client can only trade CFDs on Cryptocurrencies exclusively on short/sell transactions. Subsequently, where the Company makes any reference related to CFDs on Cryptocurrencies including inter alia, in the Company’s Terms and Conditions, Order Execution Policy, General Fees, Conflicts of Interest and any other relevant document included in the Company’s website, it should be understood and agreed that the statement ‘’CFDs Cryptocurrencies’’ only refers to short/sell transactions.
The features offered by the Company when trading on CFDs on Cryptocurrencies are:
. a) Position auto closing where it allows Clients to set their profit and loss levels for a specific trade.
. b) Manual closing of positions if Clients' position is not automatically closed as a result of position auto closing being triggered. Alternatively, the Company may at its own discretion offer by default the following contract expiration times for all CFD products: daily/weekly/monthly and/or no expiration at all.
. c) Trailing Stop Loss Order: whereby the Client specifies the loss limit which is automatically shifted up or down depending on the price of the underlying asset and only in case the latter moves in the specified direction.
. d) Maintenance Margin: The maintenance margin is the minimum amount of equity required to maintain open positions.
Clients should familiarize with the fees when trading on CFDs on Cryptocurrencies as set out on the Website under the General Fees section, since applicable fees shall affect the payout received for a specific trade.
The Company offers custody and safekeeping of CFDs on Cryptocurrencies in accordance with its Terms & Conditions.
The Company agrees to provide the Client with the Services subject to the Client:
. a) Being over 18 years old and of legal competence and sound mind;
. b) Not residing in any country where distribution or provision of the financial products or services offered by the Company would be contrary to local law or regulation. It is the Client’s responsibility to ascertain the terms of and comply with any local law or regulation to which they are subject.
3.1 Without derogation from the above, the Company reserves the right, acting reasonably, to suspend or refuse access to and use of the Trading Platform to anyone at its sole and absolute discretion.
3.2 The Company may provide the Client with reports, news, opinions and any other information, aiming to facilitate the Client in making his own investment decisions and any such information do not constitute personal investment advice. In case the Company is deemed, for any reason to provide any recommendation and/or advice, the Client hereby agrees that any transaction effected either by adopting or ignoring any such recommendation and/or advice shall be deemed to have been affected by the Client relying exclusively on his own judgment and the Company shall have no responsibility.
3.3 The client agrees and understands that price movement alerts as displayed in the Company’s trading platform do not constitute personal investment advice. In addition, these price movement alerts refer to the past and past performance is not a reliable indicator of future results.
3.4 Provision of investment advice shall only be carried out by the Company subject to a separate written agreement with the Client and after assessing the Client’s personal circumstances. Unless such written agreement has been entered into between the Client and the Company, the provision of reports, news, opinions and any other information by the Company to the Client does not constitute investment advice or investment research.
3.5 The Client agrees and acknowledges that he shall be exclusively responsible for any investment strategy, transaction or investment and he shall not rely on the Company for this purpose and the Company shall have no responsibility whatsoever, irrespective of any circumstances, for any such investment strategy, transaction or investment.
3.6 The Client has the right to cancel his order given to the Company within 3 seconds after the moment of giving such order to the Company (hereinafter referred to as the "Cancellation"). The client agrees and understands that the three seconds cancellation option offered by the Company is applicable and available for the client as long as the price remains unchanged. Three seconds from the moment of giving the order to the Company by the Client via the platform, the Company may (but is not obliged to) offer to buy out the option from the Client and the Client have the right to agree to such offer (hereinafter referred to as the "Buyout"). The Client is entitled to use such Cancellation or Buyout option subject to the conditions specified on the platform. Such conditions can also include the fee charged by the Company. Such fee is specified on the platform. The Company is obliged to provide all necessary information as to the conditions of Cancellation and Buyout, their cost, etc. The Client acknowledges and agrees that provision of such information on the platform is sufficient. The Client acknowledges and agrees that the use of Cancellation or Buyout is very risky to the Client as long as the cost of Cancellation and/or Buyout depends on the market situation. The Client acknowledges and agrees that he bears all the risks associated with the use of Cancellation and/or Buyout.
. a) The CFDs on Cryptocurrency Services are not suitable for all investors. The CFDs on Cryptocurrency Services are highly complex and as such Clients must always make sure that are fully aware and understand the specific characteristics and risks regarding the said CFDs on Cryptocurrency Services and have extensive knowledge and/or expertise of the CFDs on Cryptocurrency Services and of the underlying assets of the financial instruments offered by the CFDs on Cryptocurrency Services.
. b) Trading on financial instruments offered by the CFDs on Cryptocurrency Services carries a high risk of losing all your invested capital in your trading account and/or in a specific trade.
. c) Trading prices of the financial instruments and underlying assets offered by the CFDs on Cryptocurrency Services carry high volatility and thereby can widely fluctuate or become temporarily or permanently unavailable, therefore Clients should trade carefully and only with funds that they can afford to lose.
. d) The nature of Cryptocurrencies may lead to an increased risk of fraud or cyber-attack, and may mean that technological difficulties experienced by the Company may prevent the access to or use of the CFDs on Cryptocurrency Services.
. e) The financial instruments offered by the CFDs on Cryptocurrency Services have specific distinct risks from financial instruments offered by the Company with underlying assets, currencies or commodities. Unlike most currencies, which are backed by governments or other legal entities, or by commodities such as gold or silver, Cryptocurrencies are unique kind of currencies, backed by technology and trust. There is no central bank that can take corrective measure to protect the value of Cryptocurrencies in a crisis or issue more currency.
5.1 The Client may purchase the underlying Cryptocurrencies that the Company may offer from time to time at its absolute discretion from the Company’s Trading Platform. The Client is only able to purchase Cryptocurrencies from the Company by selecting the desired Cryptocurrency from the list of Cryptocurrencies available in the trading platform, entering the investment amount and then by placing a long/buy order. The Client will be able to sell back the purchased Cryptocurrency only to the Company by using the buyout/close function, or in accordance with any take profit order, stop loss order or trailing stop order, as may be specified by the client as described above.
5.2 The Client acknowledges and agrees that all Cryptocurrency trading will be made within the Company's Trading Platform and the Client cannot transfer out of his/her trading account, including, inter alia to any wallet and/or bank account, any storage device and/or to any address.
5.3 The Client is not allowed to deposit in his/her Aitrades trading account any Cryptocurrencies that he/she did not purchase from the Company’s Trading Platform. In addition, the Client cannot withdraw any Cryptocurrencies from his/her Aitrades trading account neither transfer the Cryptocurrencies to third parties.
5.4 Where the Company allows the Client to open a short position on Cryptocurrencies/ enter into short transactions on Cryptocurrencies and/or may be offered the possibility to use leverage/multiplier, these transactions will be classified as CFD transactions.
The Client understands that the Company by providing the Client with Cryptocurrency trading services, the Company acts as a principal and not as an agent on the Client’s behalf and therefore the Company is always the counterparty of the transaction.
7.1 The Client acknowledges and agrees that he/she will use all reasonable endeavors to make sure that the order that the Client places within the Company is consistent with the acceptable market practices and conduct in the applicable Underlying Market.
7.2 The Company may at its absolute discretion decline a Client's order for several reasons which include (but not limited to), breach of the Company's Terms and Conditions, size of an order, market conditions, risk considerations, any fraud suspicions, money laundering suspicions, insufficient margin or inadequate securities or liquid funds in the Client's trading account.
7.3 The Company is entitled to disregard or cancel a Client's order that was previously accepted by the Company where an event takes place and the Company is unable to act on that order, for instance where the Company has ceased to offer the requested order.
7.4 Any sums payable by the Clients shall be paid when entering into a transaction and shall be paid in accordance with the Company's Payment Policy and General Fees.
7.5 The Client understands and agrees that it may be impossible to modify or cancel his/her order and the Company is not obliged to proceed with the modification or cancellation of the Client’s order. In such case, the Client will be bound by any execution of the original order. The Client further agrees that he/she is responsible to know the status of his/her pending orders before entering additional orders and whether the Client is not sure or clear regarding the status of his order he/she should communicate immediately with the Company.
7.6 The Client accepts that he/she is responsible for monitoring all of his/her orders that were entered into the Company's Trading Platform until the Client receives the Company's confirmation such orders and/or the Company’s cancellation notice.
7.7 The Client's execution price which the Company reports to the Client by a relevant confirmation, shall only reflect the price that was offered at the time the execution took place and shall not reflect the price for the underlying Cryptocurrency as quoted on the relevant exchanges in which the Cryptocurrency is traded and/or any market information. The Company bears no responsibility for such inconsistencies and/or discrepancies.
7.8 The Client understands and agrees that the Company is not obliged to quote a specific price from any exchange and/or comply with the trading rules or market practices consistent with any exchanges since the Company's trading platform is independent of any such exchanges. The Client further agrees that the Company's prices may be different from the current prices on the relevant exchanges.
7.9 The Client accepts that when placing an order for Cryptocurrencies he/she agrees to the bid and ask prices set for Cryptocurrencies in which the transaction will be executed as shall be reflected as binding and final on the Company's Trading Platform.
7.10 The Company further reserves the right to refuse executing an order for Cryptocurrencies and/or to close any open positions of the Client, without informing the Client, in the following circumstances:
. a) The Client's order intended to manipulate or defraud the market;
. b) The Client's order violates any applicable Legislation/Regulation
. c) Liquidity providers are unable to provide liquidity to the Company
. d) Significant disruption of trading in the underlying Cryptocurrency in the market on which the underlying Cryptocurrency is traded
. e) Premature close of the underlying Cryptocurrency in the market on which the underlying Cryptocurrency is traded
. f) Abnormal market conditions
. g) Force Majeure
. h) Declared or undeclared war
. i) Acts of God
. j) Regulatory or governmental authority that interrupts trading in the relevant security;
. k) The Cryptocurrency subject to the Client’s order is delisted and/or for any reason the Company does no longer support the trading in such Cryptocurrency.
The Client understands and agrees that in times of high market volatility, the Company will not be held liable for any such price fluctuations caused by the Market volatility.
The Company will act as the sole custodian and hold Cryptocurrencies on behalf of its Clients in accordance with the terms of this Agreement. Subsequently, any Cryptocurrencies purchased by the Client will be held and administered by the Company in a dedicated wallet, in which all Clients’ Cryptocurrencies shall be pooled together.
Nevertheless, the Company under this Agreement, may at its absolute discretion, delegate certain custody services to third party service providers or to any other person as a sub-custodian or otherwise to hold Cryptocurrencies, which may be unaffiliated and/or affiliate Company including unregulated Companies which may be located inside or outside the EEA.
The Company will exercise all reasonable skill and care in the selection, appointment and periodic review of these affiliates, agents and any service providers but the Client agrees and understands that the Company will not be held liable for any acts or omissions of these third party service providers, including cases of dissolution or insolvency.
The Client will remain the beneficial owner of the Cryptocurrencies that the Company holds for the Client's account. The Client understands and agrees that in accordance with his/her beneficial ownership of the Cryptocurrencies held by the Company on his/her behalf, the Client will not be able to sell it part or whole, loan it and/or use it in any other way except for the specified purposes and manner stated herein.
Further, the Client agrees that he/she will not be entitled to any interest regarding his/her Cryptocurrencies held by the Company as the custodian for the Client's account and any interest shall be retained by the Company.
9.1 Cryptocurrencies Records:
The Company maintains records of all the Clients Cryptocurrencies held by the Company for the Client’s behalf.
There is no specific EU regulatory framework governing the trading in virtual currencies and trading in these products therefore falls outside the scope of our MiFID regulated activities.
10.1 Virtual currencies are complex and high risk products and as such, you could lose your entire invested capital.
10. 2 Virtual currencies can widely fluctuate and may result in significant loss over a short period of time. You should not trade in virtual currencies in case you do not have the necessary knowledge and expertise in these products.
10.3 Acknowledgement of Risks and Limitation of Liability
Clients by using the Cryptocurrency Services offered by the Company, acknowledge, understand and assume full liability for the risks associated with trading on Cryptocurrencies and/or CFDs on Cryptocurrencies, including but not limited to those set out in this Agreement and/or in the Company’s Terms and Conditions and in any other relevant information found on the Company's Website.
10.4 Clients acknowledge that, under certain market conditions and in particular where the Company has reached or surpassed internal exposure levels, the Company may have to close all or a part of Clients' positions in CFD contracts with Cryptocurrencies as underlying assets. The Company undertakes to provide adequate notification to the Clients in case a CFD position will be liquidated by the Company and shall provide no less than 5 (five) working days' notice before proceeding with the liquidation.
10.5 Clients agree and acknowledge that any use of the Cryptocurrency Services for the furtherance of money laundering, terrorist financing and/or any other illegal activity and/or activity in breach of this
Agreement and/or the Agreement and/or the Anti Money Laundering (AML) and Know Your Customer (KYC) Policy and/or of relevant provisions from information posted on the Website, entitles the Company to terminate and/or suspend and/or limit the access to the Cryptocurrency Services and/or take any other necessary steps at the Company's sole discretion and/or as per its regulatory obligations.
10.6 The Company does not own or control the underlying software protocols which govern the operation of the Cryptocurrency Network and/or the Cryptocurrencies and therefore the Company does not guarantee of their functionality, security, or availability and assumes no liability for any changes that may affect the characteristics and/or the value of the Cryptocurrencies.
10.7 Clients are solely responsible for keeping safe their personal information including but not limited to credentials of their trading account and wallet and the Company shall not be responsible for any losses incurred from loss and/or unauthorized access to such information by a third party, unless such liabilities result from gross negligence, wilful default or fraud by the Company.
10.8 Clients acknowledge that the Company shall not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when trading via the Cryptocurrency Services, howsoever caused.
The Company reserves the right to amend, revise, modify, and/or change this Agreement at any time without prior notice. All changes shall take effect immediately and such updated version of the Agreement shall be published in the Company's Website.
Clients who do not agree with any amendment, review and/or change of this Agreement may request to terminate their use of the Services and close their account. The Company shall not be liable for any modification or termination of the Cryptocurrency Services further to the amendment, review and/or change of this Agreement.
12.1 When registering for a trading account with the Company, the Client provides their personal data and verifies their email address and telephone contact number. We may not be able to proceed to offer our services and the Client may be unable to proceed in his account registration unless this necessary information is provided.
12.2 Prior to funding his account, the Client will be asked to provide further personal information pertaining to their economic profile, their appropriateness (together “the identification”) (see Clause 4) and must provide identification documents in order to verify his account (the “verification”). We may not be able to proceed to offer our services and the Client may be unable to proceed to the trading platform without completing their account identification.
Verification documents may include but are not limited to:
. a) Passport or National ID Card issued by Government Authority
. b) Proof of Address in the form of a Utility Bill or Bank Statement
. c) Copy of the client’s Credit Card
12.3 The Company reserves the right to request additional supporting documents during the verification of the Client’s Trading Account and on an ongoing basis during the business relationship if such information is required either due to legal and/or regulatory obligations that the Company may have or if such information are necessary so as the Company may efficiently offer its services to the Client.
12.4 Depending on the method of deposit, the Company reserves the right to request supporting documentation in order to verify the beneficial owner of the account from which funds have been sent if such information is required either due to legal and/or regulatory obligations that the Company may
have or if such information are necessary so as the Company may efficiently offer its services to the Client.
12.5 If you chose not to disclose information that are necessary for the Company to be able to offer its services then it is understood that the Company, under applicable regulations, may not be required to accept a person as a Client until all documentation required by the Company have been received, properly and fully completed by the person and all internal checks have been satisfied. In case any information is optional (i.e. not absolutely necessary) you will be notified accordingly at the time of providing your personal information.
The Client agrees to:
. a) Notify the Company of any changes to their personal and/or financial information by sending an email to [email protected]
. b) Notify the Company of any changes to their email or telephone number by sending an email to [email protected]
. c) Provide true and accurate data
12.6 The Company reserves the right to use the Client’s information, inter alia, in order to follow anti- money laundering regulation. The Client authorizes the Company to use such information to perform internal checks.
12.7 The Company may, at its discretion and depending on the deposit amount of the Client, give the client up to fourteen (14) days from the date of deposit, to provide supporting documents for the verification of the account. During this time, the Client will have access to the trading platform. If the Client does not provide the documentation within this timeframe, the Company will block the client’s account and return any remaining funds, excluding any profits.
. a) Request access to your personal data (commonly known as a “data subject access request”).
. b) Request correction of the personal data that we hold about you.
. c) Request erasure of your personal data.
. d) Subject to the legal basis on which the processing activity is based, you may object to processing of your personal data. Please note that in some cases, we may have compelling legitimate grounds to process your information which we need to comply with.
. e) Request restriction of processing of your personal data.
. f) Request the transfer of your personal data to you or to a third party.
. g) In case the processing of the data is performed subject to your consent, you may withdraw consent at any time where we are relying on consent to process your personal data. However, this will not affect the lawfulness of any processing carried out before you withdraw your consent. If you withdraw your consent, we may not be able to provide certain products or services to you. We will advise you if this is the case at the time you withdraw your consent.
The Client represents and warrants to the Company that:
. a) the Client has the authority to enter into this Agreement and to execute the provisions thereof;
. b) the Client is not under any legal disability with respect to, and is not subject to any law or regulation which prevents his performance of this Agreement or any contract or transactioncontemplated by this Agreement;
. c) the Client acts as principal and not as an authorized representative / attorney or trustee of any third party;
. d) the monetary funds and/or Financial Instruments and other assets delivered for any purpose by the Client to the Company are not connected directly or indirectly to any illegal acts and/or criminal activities and/or terrorism;
. e) the monetary funds and/or Financial Instruments and other assets delivered for any purpose by the Client to the Company, shall belong exclusively to the Client and at all times be free from any charge, lien, pledge or encumbrance, unless the Client has otherwise disclosed to the Company in writing;
. f) the Financial Instruments and/or legal documents, which the Client delivers to the Company are authentic, valid and free of any defect and they shall have the legal effect which they contend to have;
. g) the Client certifies that he has provided accurate, complete and true information about himself upon registration and will maintain the accuracy of the provided information by promptly updating any registration information that may have changed. Failure to do so may result in Trading Account closure, Trading Account limitations and/or voiding of any transactions;
. h) the Client confirms that he has reached the age of maturity in the country of his/her residency;
. i) the Client confirms that he is of legal competence and/or of sound mind;
. j) the Client will provide KYC documents to the Company within a period not exceeding 14 days from the moment of depositing funds.
13.1 The Client confirms that the purpose and reason for registering and operating an Aitrades Trading account is to trade, on their own behalf, in any financial instruments and to take advantage of the services offered by the Company.
13.2 The Client warrants and/or shall repeat the above warranties at all times, including, without limitation, during and/or upon the execution of any transaction and/or trade, through the Trading Account and the provision of the Services.
14.1 The Client shall indemnify and keep indemnified the Company and its directors, officers, employees or representatives against all direct or indirect liabilities (including without limitation all losses, damages, claims, costs or expenses), incurred by the Company or any other third party in respect to any act or omission by the Client in the performance of his obligations under this Agreement and/or the liquidation of any Financial Instruments and products of the Client in settlement of any claims with the Company, unless such liabilities result from gross negligence, wilful default or fraud by the Company. This indemnity shall survive termination of this Agreement.
14.2 The Company shall not be liable for any loss, expense, cost or liability incurred by the Client in relation to this Agreement, unless such loss, expense, cost or liability is resulted from gross negligence, willful default or fraud by the Company.
14.3 Notwithstanding the provisions of paragraph 14.2 above, the Company shall have no liability to the Client whether in Agreement, tort (including negligence), breach of statutory duty, or otherwise, for any loss of profit, or for any indirect or consequential loss arising under or in connection with the Agreement.
14.4 The Company shall not be liable for any loss of opportunity as a result of which the value of the Financial Instruments of the Client could have been increased or for any decrease in the value of the Financial Instruments of the Client, regardless of the cause, unless such loss is directly due to gross negligence, willful default or fraud on the part of the Company.
14.5 The Company shall not be liable for any loss which is the result of misrepresentation of facts, error in judgment or any act done or which the Company has omitted to do, whenever caused, unless such act or omission resulted from gross negligence, willful default or fraud by the Company.
14.6 The Company shall not be liable for any act or omission or for the insolvency of any counterparty, bank, custodian or other third party which acts on behalf of the Client or with or through whom transactions on behalf of the Client are carried out.
15.1 By accepting this Agreement, the Client accepts that he has read and understood all provisions of this Agreement and related information on the Website. The Client accepts and understands that all orders received shall be executed by the Company as the counterparty of the transaction in its capacity of Market Maker. The Company shall act as a principal and not as an agent on the Client’s behalf for the purpose of the Execution of orders. The Client is informed that Conflicts of Interest may arise because of this model, and further details can be found in the Company’s Conflict of Interest Policy.
15.2 The Client may transmit orders to the Company via the Trading Platform or in such other manner as it may be specified from time to time, provided the Company is satisfied, at its absolute discretion, as to the identity of the person placing the order as well as for the validity of the order.
The Client agrees that:
. a) the Company may record all telephone conversations between the Client and the Company’s employees or representatives,
. b) any recordings that the Company keeps will be its sole property and the Client accepts that they will constitute evidence of the communications between the Company and her/him,
. c) the Company may use such recordings or transcripts from such recordings as evidence towards any dispute, and
. d) that telephone conversations may be recorded without the use of a warning tone or any other further notice.
15.3 We draw to your attention that the Company's systems enable the company to monitor telephone, email, voicemail, internet and other communications. In order to carry out our legal obligations and for other business reasons and customer service and security reasons, the Company may monitor use of systems. Such monitoring is only carried out to the extent permitted or as required by law and as necessary and justifiable for business purposes.
15.4 Any orders of the Client, once placed, cannot be revoked or amended, except where the Company can and shall allow the Client to revoke or amend the relevant order.
15.5 Reception of the order by the Company shall not constitute acceptance and acceptance shall only be constituted by the execution of the order by the Company.
15.6 The Company shall be obliged to execute the Client's orders sequentially and promptly. The Client acknowledges and accepts:
. a) the risk of mistakes or misinterpretations in the orders sent through the Trading Platform due to technical or mechanical failures of such means,
. b) the risk of delay or other problems as well as
. c) the risk that the orders may be placed by unauthorized persons and agrees to indemnify the Company in full for any loss incurred as a result of acting in accordance to such orders. The Client accepts that during the execution of his order, the Company shall have no responsibility as to its content or the identity of the person placing the order, except for gross negligence, willful default or fraud by the Company.
By accepting this Agreement, the Client is entitled to apply for access codes, within the Company’s electronic systems and/or Trading platform, in order to be able to give orders for the purchase or sale
of the Financial Instruments by connecting to the internet through a compatible device such as a personal computer, a tablet or a smartphone. The Client acknowledges and understands that the Company reserves the right, at its absolute discretion, to terminate the Client’s access to the Company’s Trading Platform or part of them in order to ensure the effective and efficient operation of its systems and in order to protect its own interests and the interests of its Clients. In such cases, the Company may close any or all Trading Accounts
The Client agrees and declares that:
. a) the Client will ensure that the Username and Password issued by the Company in relation to the use of the Service(s) will only be used by him and will not be disclosed to any other person;
. b) the Client shall destroy any written notification of his security information upon receipt;
. c) the Client shall avoid choosing numbers, passwords etc. which may be easy to guess such as birthdays and telephone numbers;
. d) the Client shall never write down or record his security information without disguising it, and
. e) the Client shall be liable for all orders given through his security information and any orders received in this manner by the Company shall be considered to have been given by the Client.
. f) the Client is granted an exclusive and non-assignable right to the use of and access to the Trading Account and that it is his responsibility to ensure that no other third party, including, without limitation, to any next of kin and/or to members of his immediate family, shall gain access to and/or trade through the Trading Account assigned to her/him.
16.1 The Client undertakes to notify the Company immediately if the Client notices or has any reason to suspect that:
. a) the Client’s security information has been learnt or may be misused by any person;
. b) any unauthorized or irregular transaction was recorded on his Trading Account;
. c) an erroneous order confirmation or any similar inaccurate or conflicting statement or any information;
16.2 The Client acknowledges that the provision of the Service(s) may involve information being transported over an open network. Information is therefore transmitted regularly and without control across borders. The Company takes reasonable steps to avoid information being intercepted and read by third parties, by utilizing techniques such as encryption, however it is not always possible to avoid someone other than the Company from gaining access to information about the Client and the Client dealings with the Company.
16.3 The Client acknowledges that the Company will not take action based on the orders transmitted to the Company for execution by electronic means other than those orders transmitted using the predetermined electronic means such as the Trading Platform, and the Company shall have no liability towards the Client for failing to take action based on such orders
16.4 The Company bears no responsibility for any actions or omissions of third parties nor does it bear any responsibility for any damage and/or loss and/or expense caused to the Client or third parties as a result of and/or in relation to any aforesaid action or omission.
16.5The Company is not responsible for any power cuts or failures from the client’s part that prevent the use of the system and/or the Trading Platform and cannot be responsible for not fulfilling any obligations under this agreement because of network connection or electricity failures.
16.6 Telephone instructions related to trading activities, are currently not permitted. The Company reserves the right, at its discretion, to amend this term in the future.
16.7 Orders can be transmitted to the Company for execution, only within the operating (trading) time. The Client’s order shall be valid and in accordance with the type and time of the given order, as specified.
16.8 The Client acknowledges and agrees that the Company has the right to close any transaction, at its sole and absolute discretion without providing prior notice to the Client if the underlying asset or contract on which the transaction is based settles on an expiry date as determined by the relevant financial market, in which the said asset is traded (such time referred to as 'Closing Time' and the relevant expiring transaction referred to as an 'Expiring Transaction'). The Company will not be obligated to take actions to roll over an open position in an Expiring Transaction.
16.9 In case of force-majeure, the Company may suspend, freeze and/or cancel the Client positions and suspend any trading activities on the Trading Platform, and/or suspend the trading of a particular asset and/or request the revision of the executed transactions.
The Client acknowledges that the Company will have the right, at any time and for any reason and without justification, at its sole discretion, to refuse to execute orders, including, without limitation, in the following circumstances:
. a) If the execution of the order aims or may aim to manipulate the market price of the Financial Instruments (market manipulation);
. b) If the execution of the order constitutes or may constitute abusive exploitation of confidential information (insider trading);
. c) If the execution of the order contributes or may contribute to the legalization of the proceeds of illegal activities (money laundering);
. d) If the Client has insufficient funds to cover the purchase of Financial Instruments or if there is insufficient number of Financial Instruments to cover their sale;
. e) If the Client fails to fulfil any of his obligations towards the Company under this Agreement;
. f) The Company’s own exposure levels as set out in the Company’s internal policies have been reached in respect of the Financial Instrument or the underlying asset of the Financial Instrument the Client wishes to buy/sell;
17.1 Any such refusal by the Company shall not affect any obligation, which the Client may have towards the Company.
17.2 The client acknowledges and agrees that products offered by the Company may not always be available for purchasing and it is in the Company's absolute discretion to make these products available or not to the clients at any time.
18.1 The Client's Trading Account shall be activated upon the deposit of funds.
18.2 The Client is able to deposit funds into his account at any time during the course of business relationship. Deposits can be made through a number of methods as specified on the Company’s Website, which may be changed at the Company’s discretion. When making a deposit, the Company shall credit the Client’s Trading account with the relevant amount.
18.3 The Company reserves the right at its discretion, if it has identified third party or anonymous deposits, to block the account. The Client should note that any remaining funds will be returned to the third-party source via the same payment method and any profits accumulated by the Client using third party or anonymous funds will not be made available to the Client.
18.4 The Company reserves the right to request documentation to confirm the source of funds deposited into the Client’s account in accordance with its legal and regulatory obligations.
18.5 The Company will process withdrawals upon receiving a request through the Client’s platform. When requesting a withdrawal, the Client should note that the withdrawal of funds will be sent back to the same account via the same method from where the initial deposit was received (e.g. Client deposits 100$ to trading account by bank wire, first 100$ of withdrawal will be sent via bank wire to same bank account). The Client is able to request any profit (above his deposit amounts) through other available methods, as long as the account the withdrawal is to be made belongs to the Client.
18.6 Withdrawals can only be requested to accounts in the Client’s name. No withdrawals will be processed to third party or anonymous accounts.
19.1 The Client shall be obliged to deposit with the Bank Account any required funds so that there is sufficient clear balance for the execution of his order for the purchase of Financial Instruments and products and to deliver to the third party / custodian under the Company’s control any Financial Instruments he requires from the Company to sell, which may include the Company if applicable and permitted by applicable legislation. In case of non-fulfillment of these obligations, the Company shall be entitled not to execute the relevant order, in whole or in part. If the Company executes such orders, the Client shall be obliged to immediately pay the difference between the said balance and the cost of the transaction (in case of purchase) or to deliver the Financial Instruments and/or their control to the third party / custodian (in case of sale) and to pay the Company’s fee, commissions and/or other expenses, otherwise the Client shall be instantly deemed in default without any further notice and shall be liable for any loss caused to the Company from this delay including loss of profit.
19.2 All assets, including Financial Instruments or funds which come into the control of the Company on behalf of the Client shall be subject to the Company’s right of lien. To this extent, the Company shall be entitled to refuse their delivery to the Client until all the obligations towards the Company are fulfilled. The Company shall not be liable for any losses caused to the Client or to any third party by the exercise of the right of lien or by any other lawful measures, which may be taken by it, in settlement of its claims against the Client, including any future or contingent claims.
19.3 The Client agrees that in case the Company carries out a transaction which is not covered by the balance of the Client's Trading account, the Company shall have the right to liquidate his assets and use the proceeds to cover part or the total difference.
19.4 The Company has the right to refuse to fulfill its obligations under this Agreement, for as long as it maintains any claims against the Client, whether these are due, future or contingent and regardless of whether these arise from the same transaction from which such obligations arise.
The Client shall sign any document, which at the Company’s discretion, is considered fair and necessary for the provision of the Service(s) by the Company under this Agreement, including without limitation, for the execution of the Client’s orders and the operation of the Client’s funds. Such document shall constitute an integral part of this Agreement and shall remain in force until the Company receives a written notice from the Client to revoke it.
All applicable fees or charges can be found on the Company’s Website. The Company has the right to amend its fees and charges from time to time.
In case the Client’s position equity does not maintain enough funds to provide for it, trading fees shall be deducted directly from the trading account balance.
22.1 Each Party shall be entitled to terminate this Agreement at any time by giving to the other Party a 15 (fifteen) days written notice. During the 15 days’ notice, the Company may limit the services available to the Client, however access will be granted in order for the Client to withdraw any remaining balance and close any open positions.
22.2 The Company shall be entitled to terminate this Agreement immediately, close all open positions, block the Client’s account, and return any remaining funds (if applicable) without giving prior notice under the following circumstances:
. a) Death or legal incompetence of the Client;
. b) If any application is made or any order is issued, or a meeting is convened, or a resolution is approved, or any measures of bankruptcy or winding up of the Client are taken;
c) The d) The
relation to the performance of this Agreement; and/or
ii. has illegally and/or improperly and/or otherwise gained an unfair advantage, over and/or to the detriment of other clients of the Company and/or the Company and/or was unjustly enriched by using information which was intentionally and/or negligently and/or otherwise concealed and/or not disclosed in advance by the Client to the Company and/or for which if the Company had known in advance would have not consented and/or authorized the use of such information by the Client for the purposes of this Agreement; and/or
iii. has performed acts with the intention and/or effect of manipulating and/or abusing the market and/or the Company’s trading systems; and/or
iv. has acted in bad faith during the performance of his obligations under the Agreement.
Client violates any of the Client’s obligations under this Agreement;
Company based on available information has determined that the Client:i. Is and/or has been using fraudulent means or was involved in a fraudulent scheme in
e) Theunder applicable law;
termination is required by any competent regulatory authority or body or court of law or
. f) In case the Company became aware that the Client has not reached the age of maturity in the country which the Client is a citizen of or resides in;
. g) In case the Client receives 2 warnings regarding verbal abuse against employees of the Company;
. h) The Client breaches any of the warranties made by her/him in this Agreement;
. i) In case the Client uses and/or there are indications that lead the Company to reasonably believe that the Client uses different IP addresses from different countries and/or VPN and/or VPS during the course of executing any transactions and/or trades through the Trading Account and/or the provision of the Services. Whether the Client has provided notice to the Company for any change to its IP address and/or of the use of VPN and/or VPS is irrelevant.
. j) The client has initiated a chargeback in relation to funds held in his trading account
22.3 The Company shall be entitled to terminate this Agreement immediately and close all open positions without giving prior notice under the following circumstances: if the Client didn’t provide to the Company his KYC documents within 14 days from the moment of acceptance of this Agreement.
22.4 Provided that the provisions of paragraph 22 shall continue to apply even after the termination of the Agreement, any other lawful rights or obligations that have arisen during or before the termination of the Agreement shall not be affected and the Client shall be obliged to pay to the Company, inter alia:
. a) Any pending fee of the Company and any other amount payable to the Company;
. b) Any expenses incurred by the Company in the provision of the Service(s) under this Agreement, or as a result of the termination of this Agreement, and
. c) Any losses arising during the arrangement or the settlement of the outstanding obligations.
22.5 In case of termination of this Agreement for a reason indicated in clause 22.2 and sub-clauses a- j, the Company shall have no liability towards the Client and no obligation to pay the profit of the Client.
22.6 In case of termination of this Agreement for a reason indicated in clause 22.1 of this Agreement, the Company shall have either to wire to the Client the remaining balance or to give to the client the opportunity to withdraw his remaining balance. In case of termination of this Agreement for a reason indicated in clause 22.2 and sub-clauses a-j, of this Agreement, the Company shall have to transfer to the Client the remaining balance excluding any profits.
22.7 In case of termination of this Agreement for a reason indicated in clause 22.2 of this Agreement, the Company shall close all open positions without giving prior notice to the Client and shall grant limited access rights to the Client for a period not exceeding 14 days (the “Expiration Period”) for the purpose of the Client withdrawing the available balance in his/her Account. After the lapse of the Expiration Period or the processing by the Company of the withdrawal request(s) by the Client (whichever is earlier) the Company will proceed with closing of the Client’s account. The Company shall not be liable for any profits or losses towards the Client when closing the open positions of the Client for the purposes of this clause. In case there is no available balance in the Client’s Account, then there shall be no Expiration Period and the Company shall proceed with immediate termination of the Agreement with the Client without prior notice.
22.8 In case of termination of this Agreement, the Company shall have no liability towards the Client where the Client has not fulfilled his/her obligations as per the Agreement and the Company shall be entitled to pursue its full contractual rights as stipulated herein.
23.1 The Client’s data are those recorded in the Client’s questionnaire and are included in the Client’s Trading Account under his personal cabinet.
23.2 The Company could update the Client’s data by written notice to the Client in a reasonable time at its absolute discretion.
24.1 The Parties agree to keep confidential and not to disclose to any third party any confidential information given by the other Party under this Agreement including without limitation all the communication, documentation or other information exchanged between them, both during the term of the Agreement as well as after its termination.
24.2 The Company has the right, without prior notice to the Client, to disclose personal data or details of the transactions of the Client in order to comply with the requirements of the regulatory authorities. The Company may also disclose such information to its auditors/consultants provided if they are informed and committed to the confidentiality of the information communicated.
The Client shall contact (in writing) the Company’s compliance officer in respect to any complaints for the Services provided by the Company under this Agreement through the email: [email protected] The complaint shall be dealt with in accordance with the procedures set forth in the Company’s procedure rules.
The Company shall not be liable to the Client for any failure, hindrance or delay in performing its obligations under this agreement where such failure, hindrance or delay arises directly or indirectly from circumstances beyond its reasonable control. Such force majeure events shall include without limitation any technical difficulties such as telecommunications failures or disruptions, declared or imminent war, rebellion, civil unrest, natural disasters, statutory provisions, measures taken by authorities, strikes, lockouts, boycotts, blockades or discontinuance or suspension of the operation of any Market.
The Company does not bear responsibility for not fulfilling (improperly fulfilling) of its obligations when prevented from doing so by uncontrollable circumstances.
27.1 The Agreement shall be personal to the Client and the Client shall not be entitled to assign or transfer any of his/her rights or obligations under this Agreement.
27.2 The Company may at any time assign or transfer any of its rights or obligations under this Agreement to a third party. The Company shall notify the Client of any such assignment.
. 28.1 The Client acknowledges that no representations were made to him by or on behalf of the Company, which have in any way incited or persuaded him to enter into this Agreement.
. 28.3 In case any provision of the Agreement becomes, at any time, illegal, void or unenforceable in any respect, in accordance with any applicable law and/or regulation of any jurisdiction, the legality, validity or enforceability of the remaining provisions of the Agreement shall not be affected.
. 28.4 In case of negligence, tolerance or leniency on the part of any Party with respect to its rights under this Agreement shall not in any case be deemed a silent or other waiver or abandonment of rights.
. 28.5 Where the Client is more than one person, the Client’s obligations under this Agreement shall be joint and several and any reference in this Agreement to the Client shall be construed, where applicable, as reference to any one or more of such persons. Unless otherwise specified, any order, notice or communication given by any of the persons who constitute the Client shall be deemed to have been given by and/or on behalf of all the persons who constitute the Client.
. 28.6 The Client consents to unsolicited communication and agrees to be contacted during normal business hours for direct advertising without prior invitation by the Company.
. 28.7 The Client solemnly declares that:
a) the Client has carefully read and has fully comprehended the entire contents of this Agreement
with which he absolutely and unreservedly agrees and the Client accepts that he/she shall be fully bound by its terms and conditions.
For avoidance of doubt and unless noted otherwise, words in singular shown in the Agreement will refer to plural and vice versa; words in masculine gender will refer to feminine gender and vice versa; words referring to a person will refer to corporation and vice versa. The headlines in the Agreement will not be used as interpretation of the terms but rather be used for convenience.
30.1 The Client agrees to fund money/make payment for the Service(s) or other additional services ordered through the Website, as well as for any additional expenses (if necessary), including, but not limited, all possible taxes, charges, etc. The Client takes full responsibility for timely funding the Trading Account. A payment service provider only facilitates a payment for the amount indicated by the Website, and it is not responsible for paying by user of the Website the aforementioned additional funds/expenses.
30.2 After clicking the “Pay” button, the transaction is irrevocably deemed to be processed and executed. After clicking the “Pay” button, the Client agrees that he will not be eligible to cancel the payment or request to cancel it. Also, by accepting these Terms & Conditions, the Client, as cardholder, confirm that the Client is entitled to use Service(s) offered via the Website.
30.3 By starting to use the Service(s), the Client take legal responsibility for not violating the legislation of any country where this Service is being used, and confirms that the payment service provider is not responsible for any such unlawful or unauthorized violation. By agreeing to use the Service(s), the Client understands and accepts that processing of any of Client’s payments are executed by the payment service provider, and there is no statutory right of revocation of already purchased Service(s) or any other opportunities to cancel the payment. If the Client wishes to reject to use Service(s) for the next purchases of services/funding his/her Trading Account or other facilities on the Website, the Client could do that by using his/her Trading Account on the Website.
30.4 A payment service provider is not responsible for any failure to process the data related to the Client's payment card, or for the issuing bank’s refusal to provide authorization of the payment with the Client's payment card. A Payment service provider is not responsible for the quality, quantity, price, terms or conditions of Service(s) or other facilities offered to the Client or purchased by the Client's from the Website by using his/her payment card. When the Client pays for any of the Service(s)/funding Trading Account, the Client is primarily bound by the Website terms and conditions. Please note that only the Client, as the cardholder, is responsible for paying for services the Client have ordered through the Website/funding the Client's Trading Account and for any additional expenses/fees that can be applied to this payment. A Payment service provider acts only as the executor of the payment in the amount stated by the Website, and it is not responsible for pricing, total prices and/or total sums.
30.5 In case there is a situation when the Client does not agree with the aforementioned terms and conditions and/or other reasons, the Company asks the Client not to proceed with the payment, and, if necessary, contact directly the support of the Website.
For any information not found in this Agreement or the Company's website at www.Aitrades.com contact us by e-mail at [email protected]