1.1. FXspace Worldwide Fin Services LTD User Agreement includes applications, changes,agreements and permissions which will be accepted by the Client in respect of servicesprovided by the Company. The "User Agreement" (further Agreement) defines furtherinteraction between FXspace Worldwide Fin Services LTD(further the Company) and the Client and also establishes other rights and obligations of the Parties which arise inconnection with the procedure of granting and execution of these services.
1.2 Under the provisions of the "User Agreement" the Client will begin to executetransactions with securities and financial instruments of FXspace Worldwide Fin ServicesLTD.
1.3 Under the provisions specified in the "User Agreement" FXspace Worldwide Fin ServicesLTD provides the following services :
a) Providing access to trading platforms, namely: software through which electronic datatransmission is performed via a personal desktop, laptop or other device connected to amodem or an authorized data transmission network designated by the Company;
b) Providing access to the necessary interactive programs and services related to trading infinancial markets offered by the Company for the purpose:
- to have a connection with FXspace Worldwide Fin Services LTD;
- to have access to an authorized third-party service provider;
- to be able to obtain trading information and quotes from FXspace Worldwide FinServices LTD or an authorized third-party service provider.
1.4. Before starting cooperation, the Client undertakes to accept, carefully read and agree toall the terms and conditions of the Company's "User Agreement".
1.5. From the moment of signing the "User Agreement," the Client agrees that FXspaceWorldwide Fin Services LTD may unilaterally make corrections and changes, also add, rename, or leave unchanged the services provided under the User Agreement. However, theCompany will have to warn the Client about changes as soon as possible, indicated in theAgreement.
Following the general rules, any changes, additions, renaming of services will come intoforce after five working days from the date of notification of the Client about changesestablished in Section 4.
1.6. Any financial instruments through which the Client performs trading operationsaccording to the "User Agreement" are estimated. The Client should consider that thedelivery of physical currency or the underlying asset of the contract is not performed.
1.7. The Client undertakes to acknowledge and understand the following provisions:
a) FXspace Worldwide Fin Services LTD performs trading operations and some additionalservices, which periodically can be agreed between the Client and the Company in writing;
b) FXspace Worldwide Fin Services LTD does not provide advice or consultations regardingany transaction entered into under the "User Agreement".
c) FXspace Worldwide Fin Services LTD has no access to manage and monitor the Client'sinvestments;
d) the execution by FXspace Worldwide Fin Services LTD of any orders on behalf of theClient does not imply the endorsement or recommendation of this transaction by FXspaceWorldwide Fin Services LTD;
e) FXspace Worldwide Fin Services LTD indicates the different types of risk disclosure inboth the "User Agreement" and the online platform of FXspace Worldwide Fin Services LTD;
e) FXspace Worldwide Fin Services LTD will not act as a trustee or provide individual adviceto the Client in respect of any transaction with securities and financial instruments unlessagreed in writing.
g) The Client undertakes to evaluate his trades, which will be considered in the light of theClient's own goals and obligations, including consideration of possible risks and benefitsassociated with the conclusion of such trades;
h) The Client should understand that it is not appropriate to rely on any information, offer ornotification from FXspace Worldwide Fin Services LTD as a recommendation or adviceconcerning this transaction.
2. Stages of opening a trading account.
2.1. Before opening a trading account with FXspace Worldwide Fin Services LTD, the Clientmust register on the Company's official website. To do this, one must fill out a registrationform to open a trading account and accept the "User Agreement".
2.2. During the registration procedure, the Client has the right to choose one of the tradingaccount types offered by FXspace Worldwide Fin Services LTD. Conditions and peculiaritiesof providing services on each of the proposed types of trading accounts are posted on theofficial website of the Company and are an integral part of the "User Agreement".
2.3. FXspace Worldwide Fin Services LTD considers the person or entity whose details werespecified in this registration form to be the person who completed the registration form foropening a personal or corporate trading account. The Client must understand that he/she ispersonally responsible for the providing of accurate data as well as all possibleconsequences due to its inaccuracy or invalidity.
2.4. Upon completion of the registration process and signing of the "User Agreement", theClient will be provided with a trading account. After that, the data will be generated and theCompany will provide the access codes (login and password) to the Personal Cabinet andthe Trading Terminal. The access codes are necessary for personal identification duringtrading operations, as well as for trading account and cash management.
The Client's login is assigned once and cannot be changed. The password can be changedat any time upon request of one of the parties. Changes in the Client's password can bereproduced at any time, but the Client must not notify the Company. If the change ofpassword is initiated by FXspace Worldwide Fin Services LTD, a notification will be sent tothe e-mail address specified by the Client.
2.5. The Client's trading account is opened and maintained in Euros.
2.6. The Client's trading account will be automatically connected to FXspace tradingplatform.
2.7. At initial registration of the Client, the trading account opened by him/her will be linked toFXspace trading platform.
2.8 If the Client has unique and super aggressive trading strategies, it is the Client'sresponsibility to notify FXspace Worldwide Fin Services LTD of his intention to do so and theCompany will then ask for proof of his qualification as a professional trader or investor. If theClient refuses to provide evidence, the Company reserves the right to deny further service tothe Client, as well as to disable access to the trading account and cancel all tradingoperations and their results.
2.9. The Client shall be responsible for maintaining the confidentiality of the data to accesshis trading account, as well as for all trading and non-trading operations on the accountproperly authorized in the trading platform on the official website of FXspace Worldwide FinServices LTD using the data to access the trading account of the Client. Any messages,requests and orders transmitted by the Client to FXspace Worldwide Fin Services LTD forauthorization in the trading platform shall be deemed to have been transmitted directly bythe Client.
2.10. If the Client lost his/her password, FXspace Worldwide Fin Services LTD has the rightto change the existing password at the Client's request. However, before changing thepassword, the Client must pass an identification which will be done by all available means.
3. Rights, guarantees and obligations of the Parties
3.1. The Client is entitled:
3.1.1. To connect with FXspace Worldwide Fin Services LTD or an authorized third-partyservice provider to obtain quotes and information for trading operations in financial markets.
3.1.2. To gain access to trading operations in financial markets through the trading platformprovided by FXspace Worldwide Fin Services LTD.3.1.3. To receive and request any information regarding the current status of his/her accounton demand, subject to communication between the Client and FXspace Worldwide FinServices LTD.
3.1.4 To have the right to dispose of free funds in the Personal Account at any convenienttime.
3.1.5 To have the ability to provide FXspace Worldwide Fin Services LTD with requests,orders and instructions for trading operations on financial markets only through the PersonalCabinet or by phone.
3.2. From his/her part, the Client guarantees that:
3.2.1. He/she possess full legal and mental capacity.
3.2.2 He is aware that the "User Agreement" does not violate any laws, rights or statutoryregulations applicable to the Client or in the jurisdiction where the Client is resident.
3.2.3 Any information provided by the Client under the "User Agreement" is complete,accurate and truthful, including all related aspects.
3.2.4. The Client undertakes to assume responsibility for all probable consequences thatmay arise as a result of his/her actions under the "User Agreement".
3.2.5. To be the only authorized person using the services of FXspace Worldwide FinServices LTD on the trading account, due to which is responsible for maintaining theconfidentiality of personal data and the necessary access codes.
3.2.6. The Client guarantees that the funds are of legal origin, therefore any use of them islegal.
3.2.7. The Client guarantees that the funds transferred by him to his trading account withFXspace Worldwide Fin Services LTD are of legal origin and legal possession and right.
3.3. The Client is obliged:
3.3.1. To comply with the terms and conditions and fulfil obligations specified in the "UserAgreement", as well as in other applications thereto and other information published on theofficial website of FXspace Worldwide Fin Services LTD.
3.3.2. To make any payments in strict accordance with the annexes and terms of the "UserAgreement".
3.3.3 To provide FXspace Worldwide Fin Services LTD with current identification informationand data and immediately notify the Company of any changes in them. The Client isresponsible for all consequences related to failure to notify the Company of any changes.
3.3.4. Not to disclose to any third parties access codes and other information that is used toidentify the Client during trading operations and the management of the trading account andfunds in it.
3.4. FXspace Worldwide Fin Services LTD reserves the right:
3.4.1. To require the Client properly fulfil the terms and conditions of the "User Agreement".
3.4.2. For proper identification, request the Client to provide information and data that isnecessary to open a trading account and when the Client performs trading and non-tradingoperations.
3.4.3 If the Client refuses to fulfil the requirements of the "User Agreement", the Company isentitled to unilaterally terminate the Client's access to the provided services.
3.4.4 In order to prevent fraud, money laundering and other conflict situations, FXspaceWorldwide Fin Services LTD has the right to require the Client to confirm the identity orregistration data of the legal entity at any time. Confirmation of the Client's identity orregistration data of a legal entity is made following the procedure established in Section 7 ofthe “User Agreement”.
3.4.5. To recognize any position (or several positions) of the Client as invalid and close it atthe current price at any time in its sole discretion, provided that all trading systems used by the Client are designed to exploit possible vulnerabilities in the FXspace Worldwide FinServices LTD software.
3.4.6 The Company may prohibit the use of advisors or completely prohibit access to thetrade and trading account if the Client has detected unproductive load on the service.
3.4.7 Provided that the trading operation has been corrected or cancelled by the liquidityprovider, the Company has the right to edit or invalidate this operation.
3.4.8. If the Client has a fixed debt, FXspace Worldwide Fin Services LTD has the right at itsdiscretion to use the balance available on the Client's trading account.
3.4.9. FXspace Worldwide Fin Services LTD has the right to forcibly close (liquidate) the Client's open positions without prior notification of the latter, if the current state of the trading account "Margin Level" is less than 80% of the required margin for maintaining open positions (Margin Call situation). In some cases open positions may be forcibly closed with mandatory notification of the Client.
The Company is certainly obliged to start closing unprofitable transactions if the current state of the trading account "Margin Level" becomes less than the required margin for maintaining open positions (the "Stop Out" situation). The minimum allowable margin level is 20%.
3.5. FXspace Worldwide Fin Services LTD guarantees that:
3.5.1 All data provided by the Client will be protected by the Company under the privacy anddata protection provisions contained in Section 8 of this document;
3.5.2 After 24 hours after FXspace Worldwide Fin Services LTD has received a request, theClient will be provided with any necessary information regarding the status of his/her tradingaccount.
3.5.3 The Client must understand that FXspace Worldwide Fin Services LTD does not act asa tax agent. This means that the Client is fully responsible for all tax, fiscal and tax reportingtasks, including but not limited to the payment of any and all taxes arising from or inconnection with any transactions related to the services provided by FXspace Worldwide FinServices LTD.
3.6 For its part, FXspace Worldwide Fin Services LTD is committed:
3.6.1. After the Client has completed the registration procedure and has been accepted byFXspace Worldwide Fin Services LTD as a Client, the Company will open a personal tradingaccount for the Client, after which it will be possible to start trading. 3.6.2. To provide the Client with an opportunity to perform trading and non-trading operationson financial markets on the terms and procedure stipulated in the "User Agreement".
3.6.3. To provide services under the terms of the "User Agreement".
4. Exchange of information.
4.1. FXspace Worldwide Fin Services LTD may contact the Client through:
b) internal mail of the trading platform;
c) facsimile communication;
f) ads in the "News" section on the official FXspace Worldwide Fin Services LTD website.
g) ads in official profiles and on the official pages of FXspace Worldwide Fin Services LTD, as well as in messengers and social networks.
4.2 The Company will use the latest contact details provided by the Client to contact him/her.The Client has no right to invoke that the information sent by FXspace Worldwide FinServices LTD to the contact details specified by the Client is incorrect or invalid.
4.3 Documents, announcements, notifications, confirmations, requests, reports, messages,correspondence, etc will be deemed received by the Client:
- at the end of the phone call;
- seven working days after the mailing;
- one hour after sending it to the Client’s e-mail address;
- immediately after sending through the trading platform by internal mail;
- immediately after sending it by fax;
- immediately after placing the "News" or "Notice" on the official FXspace WorldwideFin Services LTD website.
4.5. After three calendar days from the moment of sending the Company's notification via theClient Terminal's internal mail, the Client agrees that FXspace Worldwide Fin Services LTDhas the right to delete the messages that were not received.
4.6 The Client agrees that the Company may record oral and telephone conversations withthe Client. Records of this type may serve as evidence of requests and orders given by theClient, as well as other facts of interaction between the Client and the Company, which arethe property of FXspace Worldwide Fin Services LTD.
5. Client's finances: settlements, payments and transfers.
5.1 In order to enable trading operations, FXspace Worldwide Fin Services LTD may requirethe Client to deposit to his/her trading account transferring funds to the Company's accountsusing any method acceptable to FXspace Worldwide Fin Services LTD.
5.2. The Client understands that the funds will be credited to the trading account on the dateof the transaction, net of transfer fees or other likely expenses.
5.3. The Client is entitled to withdraw the funds available in the trading account at any timeand at his/her own discretion if it is stipulated in the "User Agreement". Often, funds may bewithdrawn from a trading account by the same payment methods that were previously usedfor deposit and to the same bank account or via the same electronic payment system thatwas used to finance the account.
5.4 The Client may deposit or withdraw funds only in one currency - Euro.
5.5. When the Client wants to deposit or withdraw funds from his trading account:
a) FXspace Worldwide Fin Services LTD will not accept payments to/from any third-partyand thus the payer and recipient of funds must be the same person as the Client;
b) the funds may be withdrawn to the same bank account or by the same deposit methodused to finance the account; if the method used to finance the account cannot be used towithdraw funds (e.g. via payment terminals, bank cards, etc.), withdrawals may only bemade by bank transfer to a bank account opened in the name of the Client.
c) Where different methods and currencies are used to finance the account, the withdrawalshall be made on a pro-rata basis for each method and currency.
5.6. The funds are credited to the Client's trading account within one working day.
5.7 If the withdrawal amount including all costs exceeds the free margin, FXspaceWorldwide Fin Services LTD reserves the right to reject such withdrawal request. As anywithdrawal from a trading account which has open positions can only be made within thefree margin available in the Client's account.
5.8. After receiving a withdrawal request from the Client, FXspace Worldwide Fin ServicesLTD must comply with the Client's request within five business days.
5.9. Any fees, expenses and commissions levied by banks, clearing agents, exchanges,depositories and other organizations in relation to transfer of funds and settlements betweenthe Parties shall be paid by the Client.
5.10. The Client understands and agrees that when his trading account is funded with adelay caused by a software failure, FXspace Worldwide Fin Services LTD may fund theaccount manually, provided that the Client has notified the Support Service.
5.11. At Client’s discretion funds may be transferred to the trading account for its deposit orto maintain an open position. For its part, FXspace Worldwide Fin Services LTD does notrequire the Client to maintain the required margin level.
5.12. FXspace Worldwide Fin Services LTD has the right to limit the minimum and maximumamounts to be credit and debit, which will be differentiated according to the method ofcrediting or debiting.
5.13. Based on the terms and conditions specified in the "User Agreement", FXspaceWorldwide Fin Services LTD will receive a commission or other remuneration from the Clientfor the services provided. Also, the Client must reimburse any costs incurred by FXspaceWorldwide Fin Services LTD. This is why the required amount will be withdrawn from theClient's trading account in a non-acceptance manner.
5.14. FXspace Worldwide Fin Services LTD reserves the right to pay or receive duties,commissions or non-monetary benefits to and/or from its affiliates or third-parties as long asthis is not against the law. Besides, the Company may pay a fee or commission to any thirdparty that brings a new (potential) Client to FXspace Worldwide Fin Services LTD. In turn,the Client agrees that the Client will not be obliged to provide a separate disclosure of themain provisions related to any such fee, non-monetary benefit or commission.
5.15. FXspace Worldwide Fin Services LTD reserves the right to block an account that isinactive and has not been funded for more than three consecutive months. Trading accountsthat have been blocked in this way will be automatically archived and the Client will not beable to use access codes to the Personal Office and trading account.
To restore access to the trading account, the Client must send a request to FXspaceWorldwide Fin Services LTD support team. After three business days upon the request, theClient's account will be unlocked and the Client will be notified by e-mail.
5.16. Trading accounts that remain inactive for more than 3 months may be deleted byFXspace Worldwide Fin Services LTD and may no longer be recovered.
5.17. If a trading account remains inactive during the last 3 months but has a deposit, FXspaceWorldwide Fin Services LTD reserves the right to charge and debit an annual accountmaintenance fee of 20 Euros in order to keep the trading account open.
5.17.1 The attractive FXspace bonus is valid for each Deposit replenishment, which makes it possible to automatically receive additional funds and trade a Deposit up to 2 times the amount. To withdraw funds from the Deposit, you need to make a volume of transactions equivalent to the bonus amount within 100 days. If the required trade turnover is reached before 100 days, the trader can immediately withdraw funds in full.
5.18. Clients are strictly forbidden to use trading strategies, the purpose of which is to gainprofit from the deliberate creation of situations, based on which one of the accounts of aClient or a group of Clients falls into the zone of negative balance, including when theseaccounts are registered to different persons, knowingly forming part of one trading strategy.If FXspace Worldwide Fin Services LTD professionals become aware that the Clientchooses to use this type of trading strategy, the Company reserves the right to restore anegative balance in one Client's account, at the expense of funds in another account.
5.19. If there are objective reasons, FXspace Worldwide Fin Services LTD may considertrading server operations non-market.
5.20. When situations involving a significant reduction in liquidity arise, FXspace WorldwideFin Services LTD reserves the right to close trading on one or more instruments or allowtrading on them only in the exclusive "Close" mode.
6. Anti-money laundering policy.
6.1. You can read more about this document by clicking on the link.
7. Client Identification.
7.1 Based on the requirements associated with the KYC procedure, the majority of the antimoney laundering programme of FXspace Worldwide Fin Services LTD indicates that theCompany is obliged to identify the identity of any Client with whom it enters into a businessrelationship. Also, the monitoring of Client relationships will be replicated on an ongoingbasis.
7.2 During verification of identity as a natural person, FXspace Worldwide Fin Services LTDwill pay attention to the following indicators:
- valid passports;
- identity cards;
- relevant (current) driver's licence.
7.3 During verification of identity as a natural person, FXspace Worldwide Fin Services LTDwill pay attention to the following indicators:
- the last issued utility bill;
- the last bank or credit card statements;
- the last bank reference.
The "Last" refers to the bank recommendation, which was issued not later than 3 months.
7.4. FXspace Worldwide Fin Services LTD will verify the Client's identity before processingthe Client's request to withdraw any significant amount from his trading account.
7.5 Based on the instructions in paragraphs 7.2 and 7.3, FXspace Worldwide Fin ServicesLTD reserves the right to require the Client to provide certain documents on a case-by-casebasis and based on an anti-money laundering programme.
7.6 In a situation where FXspace Worldwide Fin Services LTD must rely on KYC documentswhich are not the originals, they must be properly authenticated as true copies of theoriginal. These copies may be certified by a lawyer, actuary, accountant or any other personof recognized professional qualification or a member of the judiciary or a senior governmentofficial. 7.7. If the Client provides KYC documents that are written in languages that are not workingat FXspace Worldwide Fin Services LTD, the Client must provide a certified translation of thedocument into English. Besides, the translation must be printed, signed by the translator andattached to the certified copy or original document.
7.8. FXspace Worldwide Fin Services LTD shall send a request to the Client, after which theClient shall provide original KYC documents within thirty (30) calendar days from the date ofrequest.
7.9. While waiting for KYC documents, FXspace Worldwide Fin Services LTD reserves theright to suspend non-trading operations on the Client's account, including withdrawal offunds.
7.10. If the Client has not provided documents within 30 calendar days, FXspace WorldwideFin Services LTD reserves the right to freeze any trading and non-trading operations on theClient's account, as well as to close all open positions at current market quotes and blockfunds placed on the trading account without the consent of the Client.
7.11. Based on KYC policy, the following documents may be requested from a legal entity(Client):
a) Constituent and registration documents of a legal entity that have been issued by theauthorized bodies.
b) Bank account statement or bank statement confirming that the legal entity has opened abank account.
c) Power of Attorney to the individual authorized to manage the Client's trading account, witha mandatory indication in the text of the Power of Attorney of all necessary details of theClient and data of the individual's identification document, as well as the authority of thisindividual to dispose of funds, perform trading and non-trading operations on the Client'strading account and to interact with FXspace Worldwide Fin Services LTD on all issues onbehalf of the Client. The Power of Attorney must be signed by the Head of the Client - legalEntity and sealed.
d)The decision of the authorized body on appointment of the head of the legal entity.
e) A copy of the identification document issued by the authorities of the Client's jurisdictionwith a photo of a natural person (passport, driver's license, ID card) authorized to managethe trading account of the Client - legal entity.
f) When documents are provided in copies and/or require translation, certification and/ortranslation requirements must be met, on the principle specified in paragraphs 7.4 and 7.7above.
8. Privacy and data protection.
8.1. FXspace Worldwide Fin Services LTD is obliged to maintaining the confidentiality of its Clients' data and not to disclose it to third parties, except for the following:
- to the extent necessary under any applicable law or regulation;
- when there are obligations to publish data if the legitimate business interests of FXspace Worldwide Fin Services LTD require disclosure;
- at the Client's request or with the consent of the Client or the persons described in Section 8.
8.2. FXspace Worldwide Fin Services LTD reserves the right to disclose the Client'spersonal data to those agents who provide the Company with a number of additionalservices. Also, FXspace Worldwide Fin Services may transfer or offer to transfer any of itsrights or obligations to any person under the "User Agreement" and to licensed creditagencies or other entities that assist FXspace Worldwide Fin Services LTD and others:
- to act under the laws;
- to make credit decisions;
- reduce the probability of fraud in the course of identification, fraud prevention throughcredit control checks.
FXspace Worldwide Fin Services LTD reserves the right to share Client data with otherFXspace Worldwide Fin Services LTD affiliates for business purposes such as servicing Client accounts and informing clients about new products and services as permitted byapplicable law.
8.3 FXspace Worldwide Fin Services LTD grants the Client access rights to some or allpersonal data that the Company collects or stores at the time of the request or to correctinaccurate information, subject to data protection law. In order to fulfil its requirements, theClient must contact FXspace Worldwide Fin Services LTD in writing, after which the Clientmay be asked to provide additional information to assist FXspace Worldwide Fin ServicesLTD as requested.
8.4. FXspace Worldwide Fin Services LTD reserves the right to record or monitor telephoneconversations, as well as electronic and other correspondence between the Client and theCompany in order to ensure security, compliance with legislation, training purposes and toimprove the quality of services.
Cookies are a part of the data stored on the Client's computer that contains informationabout the Client related to the use of the trading system. IP addresses may be associatedwith the Client's Personal Data and by tracking these addresses, FXspace Worldwide FinServices LTD will receive personal data. For its part, the Company provides access totrading after the Client agrees to grant permission for cookies and IP tracking devices. Forits part, the Client understands that he/she authorizes access to a wide range of cookies andIP tracking devices.
8.6. Any services provided through the trading system include transfers via the Internet. TheClient must understand that such transfers are subject to certain risks. FXspace WorldwideFin Services LTD takes all possible precautions. The Client should be aware that whentrading over the network, the Client may be exposed to unauthorised programs transmittedby third parties, electronic disruption or inability of information and data to reach theirintended destinations or erroneous receipt or misdirection of such information. FXspaceWorldwide Fin Services LTD's technical equipment ensures the confidentiality and securityof data, but the Company cannot guarantee the elimination of possible risks. Therefore, anytransmission through a trading system cannot be guaranteed to be confidential. FXspaceWorldwide Fin Services LTD is not responsible for any breach of confidence resulting fromsuch events.
9.1. The Client agrees that any trading system is provided by FXspace Worldwide FinServices LTD in its original form and without any warranty of any kind including:
- merchantability or fitness for a particular use, purpose or application;
- no interruption or results to be obtained by the Client or anyone else when using thetrading system.
For its part, FXspace Worldwide Fin Services LTD is not liable for any loss or damageincurred by the Client or any third party in connection with the provision of any service towhich the "User Agreement" applies, unless such loss or damage is directly caused byFXspace Worldwide Fin Services LTD fraud, gross negligence or malicious act.
9.2. FXspace Worldwide Fin Services LTD shall not be liable for any loss or damage caused,directly or indirectly, by any event, action or omission outside its control, including, without limitation, loss or damage resulting from any delay or inaccuracy in the transmission oforders or information due to the failure, delay or malfunction of any transmission,communication or computing facilities.
9.3. If there are errors in quotes, execution or other that may include, but are not limited to, aquoting error from FXspace Worldwide Fin Services LTD, a quote that does not representthe real market price, an erroneous quote from an employee of FXspace Worldwide FinServices LTD, such as a long "Big Digit" quote or an erroneous quote due to an error: failureof equipment, software, communication lines, systems or inaccurate data channels providedby FXspace Worldwide Fin Services LTD or third-party suppliers, FXspace Worldwide FinServices LTD shall not be liable for errors in the Client's trading account balance or tradinglosses.
The above list is not exhaustive. When a quote or execution error arises, FXspaceWorldwide Fin Services LTD reserves the right to make the necessary adjustments orcorrections to the account involved. Any disputes arising from such quoting, execution orother errors will be resolved by FXspace Worldwide Fin Services LTD after its sole discretionand analysis.
9.4. Reasons related to delays in internet connection and quotes submission periodicallycreate a situation when the prices displayed on the trading platform do not accurately reflectmarket quotes. FXspace Worldwide Fin Services LTD prohibits the use of latent arbitrationpractices which benefit from these internet backlogs. If the Company discovers that theClient is using latent arbitration during trading, transactions conducted under this technologywill be cancelled. FXspace Worldwide Fin Services LTD reserves the right to makenecessary adjustments or corrections to the account involved at its sole and absolutediscretion.
9.5. The Client must be aware that under conditions of high market volatility, e.g.announcement of key (decisive) news, the Client may be exposed to additional risks. Thereis a possibility that the Client will not be able to receive the price he requests. In turn,FXspace Worldwide Fin Services LTD cannot guarantee price stability in times of highmarket volatility.
9.6 The Client is required to agree that the Client shall indemnify and hold FXspaceWorldwide Fin Services LTD harmless from and against any and all liabilities, damages,costs and expenses, including legal fees and expenses incurred by FXspace Worldwide FinServices LTD in connection with the provision of services to the Client under the "UserAgreement". In addition, the Client should note that any such circumstances, losses, costsand expenses have not been caused by fraud, gross negligence or wilful misconduct ofFXspace Worldwide Fin Services LTD.
9.7 In a situation where the Company finds that the Client is in breach of any of the terms ofthe "User Agreement" which has resulted in any damage, loss, expense, charge or expenseto FXspace Worldwide Fin Services LTD, the Company reserves the right, in its sole andabsolute discretion and without the Client's consent, to write off an amount from the Client'strading account(s) sufficient to fully cover such damage, loss, charge or expense. If there areinsufficient funds in the Client's account(s), FXspace Worldwide Fin Services LTD will requirethe Client to make an upload to the Client's account(s) of an amount that will be able to meetthe claims of FXspace Worldwide Fin Services LTD.
9.8. After FXspace Worldwide Fin Services LTD notifies the Client of any loss, claims mustbe satisfied by the Client within ten business days after notification.
9.9. Payment for lack of activity.
9.9.1. If during the last 365 calendar days no trading operations are detected on the Client'strading account and all positions are closed, from the first day of the next calendar monthonwards monthly, the inactive trading account maintenance fee of 10 EUR (ten EUR) permonth will be deducted from the account.
9.9.2 The fee will be charged exclusively from the Client's funds. In addition, funds that havebeen credited to the Client as part of one or more bonus programs or other FXspaceWorldwide Fin Services LTD promotions may not be used for trading account maintenancefees.
9.9.3. If there are insufficient funds on the Client's Personal Account, FXspace WorldwideFin Services LTD has the right to write off the missing funds from any other trading accountor the Client's Account. Recalculation of the withdrawal amount is made at the internalcurrent exchange rate of FXspace Worldwide Fin Services LTD.
9.9.4. After 365 calendar days, the inactive trading account will be automatically moved tothe archive and can be reactivated after the Client's request to FXspace Worldwide FinServices LTD, but subject to the repayment of the Client's debt for servicing fees of this orother inactive trading accounts of the Client.
10. Force majeure
10.1 Both parties are released from liability for failure to perform or improper performance ofobligations under the "User Agreement" if the reason for this was unforeseen circumstancesin which both parties could not foresee or prevent them. Such circumstances include fires,floods, epidemics, power supply and communication disruptions, earthquakes, tsunamis,other natural disasters, man-made disasters, terrorist acts, mass riots, acts and actions ofauthorities, embargoes, wars and armed conflicts, or other circumstances beyond the controlof the Parties, except to the extent that the Party which failed to fulfil its obligations is guiltyof failing to prevent, or is itself the cause of such failure or delay, and provided that suchfailure or delay is not caused by the Parties.
10.2 The circumstances precluding liability under the "User Agreement" also include illegalactivities in relation to FXspace Worldwide Fin Services LTD, its employees or its property,including hacker attacks and other illegal activities in relation to FXspace Worldwide FinServices LTD servers.
Force majeure circumstances under the "User Agreement" also include the suspension,liquidation or closure of any market, or the absence of any event based on which FXspaceWorldwide Fin Services LTD bases its quotes, or impose restrictions or special or nonstandard trading conditions on any market or concerning any such event.
10.3 In case of force majeure excluding liability, FXspace Worldwide Fin Services LTD mayperform any or more of the following without prior notice to the Client:
to increase margin requirements;
- close any trading position(s) of the Client at a price that FXspace Worldwide FinServices LTD considers fair;
- limit or modify the validity of one or more clauses of the "User Agreement" and itsappendices until the exclusion of liability is terminated;
- take or suspend any action concerning FXspace Worldwide Fin Services LTD wherethe Company reasonably believes it is appropriate to do so under the circumstances.
10.4. The party for which the failure to perform or improper performance of obligations underthe "User Agreement" was caused by force majeure shall inform the other party about suchcircumstances within twenty calendar days from the date of their beginning. The party thatdoes not notify the counterparty about the occurrence of the circumstances excluding liabilitywithin the specified period may not refer to them as the circumstances excluding liability.
11. Claims and complaints.
11.1. If the Client has a complaint about the performance of the services provided byFXspace Worldwide Fin Services LTD based on the "User Agreement", the Client mustforward the complaint to FXspace Worldwide Fin Services LTD who will investigate thenature of the complaint and attempt to resolve the issue.
11.2 All claims and complaints against FXspace Worldwide Fin Services LTD must be madewithin the following deadlines:
- three (3) days shall be allocated for the submission of a claim caused by therelationship between Parties regarding trading operations in financial markets.
- twenty (20) calendar days shall be allocated to a claim which is related to non-tradingoperations and other grounds.
Special attention should be paid to the situation when the Client refuses to send a complaintwithin the specified time frame. This shall be deemed as a confirmation of consent to theactions of FXspace Worldwide Fin Services LTD and the absence of any disputes anddisagreements.
11.3 The claim shall include the following data:
a) the Client's first and last name;
b) login to the trading platform;
c) a description of the situation.
11.4 Claims related to trading operations on financial markets should include the followingdata:
a) The date and time when the problem situation arose (by the time of the trading platform);
b) ticker of a disputable position or a pending order.
11.5. The claim should not contain:
a) emotional colouration of the disputed situation;
b) offensive language against FXspace Worldwide Fin Services LTD and its employees;
c) abnormal vocabulary.
11.6. FXspace Worldwide Fin Services LTD has the right to reject the Client's claim in caseof failure to comply with the conditions of registration and sending the claim specified in theparagraphs. 11.2., 11.3., 11.4, 11.5 and 11.8. of "User Agreement".
11.7 If the claim has been accepted by the Company, FXspace Worldwide Fin Services LTDwill consider the claim and resolve the disputed situation as soon as possible.
11.8 In a situation where FXspace Worldwide Fin Services LTD is compelled to requestadditional information or documents from the Client in order to process a claim, thebeginning of the claim processing period is the time when FXspace Worldwide Fin ServicesLTD has received all the requested information or documents from the Client.
11.9. If the Client's claim relates to a trading operation or/and the server log file and is theonly source of information when considering a disputable situation related to the Client'strading operations on the financial markets, the Client acknowledges and understands this.The information contained in the Server log file has unconditional priority over otherarguments when considering a disputable situation, including the information contained inthe Client Terminal log file.
11.10. If the Client's order has not been executed in connection with the maintenance workon the servers of which the Client has been notified in advance, then claims regarding suchorders will not be accepted by FXspace Worldwide Fin Services LTD.
11.11. If the situation was found to be justified, the settlement takes the form of acompensation payment accrued to the Client's trading account within one business day.FXspace Worldwide Fin Services LTD will not reimburse the Client for any profit loss, even ina situation where the Client intended to take action but did not take it for any reason.Furthermore, FXspace Worldwide Fin Services LTD does not reimburse for any indirectlosses or moral damages.
11.12. When deciding on a claim, FXspace Worldwide Fin Services LTD follows theCompany's internal policies and procedures, which are based on the principles of generalmarket policy. FXspace Worldwide Fin Services LTD reserves the right to refer to quotations,prices, rates and other information from any other broker or a market maker for comparison.
12. Applicable law and jurisdiction.
12.1 The "User Agreement" has been drafted and acts under the legal regulations of the Marshall Islands.
12.2 Both Parties (meaning the Company and the Client) shall try to settle any disputes ordisagreements arised due to the "User Agreement" through negotiations. If the negotiationsfailed, the main claims and disagreements would be referred to the Marshall Islands judicialauthorities for settlement.
12.3 The Parties expressly grant exclusive jurisdiction to the Marshall Islands judicialauthorities to resolve any claim, action or other matter relating to the "User Agreement".Nothing in the "User Agreement" shall prevent FXspace Worldwide Fin Services LTD frombringing a claim against the Client in any jurisdiction.
12.4 Each Party unconditionally waives any objections that may arise:
- at the venue of any proceedings before the Marshall Islands judicial authorities;
- that the trial is being held in an inconvenient place for the Client;
- that the judicial authorities of the Marshall Islands have no legal force against either Party.
13. Term of validity and termination procedure of the Agreement.
13.1 The "User Agreement" will not become a binding contract between the Client andFXspace Worldwide Fin Services LTD until the Client's trading account has been openedand approved by FXspace Worldwide Fin Services LTD.
13.2 The "User Agreement" is valid until its termination.
13.3 The "User Agreement" may be terminated by the Client upon written notice to FXspaceWorldwide Fin Services LTD fifteen (15) calendar days prior to termination provided that theClient has no open positions, outstanding liabilities or debts to FXspace Worldwide FinServices LTD. The Client confirms that such termination does not release the Client from anyobligations arising from previous transactions concluded in connection with the "UserAgreement".
13.4. If at the time of termination of the "User Agreement" the Client has open tradingpositions, FXspace Worldwide Fin Services LTD reserves the right to close the openpositions at the current market price without prior notice to the Client. If there is a positivebalance in the Client's account after closing the positions, such funds should be sent to theClient in case the Client has no other valid obligations to the Company.
13.5. FXspace Worldwide Fin Services LTD reserves the right to terminate the "UserAgreement" by notifying the Client in writing within fifteen (15) calendar days prior totermination.
13.6. Reasons and conditions of termination:
13.6.1 FXspace Worldwide Fin Services LTD may terminate the "User Agreement" withoutprior notice to the Client only if the Client violates any of the terms of the "User Agreement".
13.6.2 FXspace Worldwide Fin Services LTD has the exclusive right to defend its interests.Consequently, the Company will take all reasonable measures against individual Clients whoact against the Company's interests by using the services provided to them for fraudulentpurposes. FXspace Worldwide Fin Services LTD reserves the right to unilaterally terminatethe contractual relationship with such Client and is not obliged to disclose to the Client thereasons for its decision. The decision shall take effect immediately and without prior notice tothe Client.
13.6.3 FXspace Worldwide Fin Services LTD has the right to block the Client's tradingaccount and conduct internal controls and investigations without prior notice. The reason forthis may be suspicious trading operations and actions on the part of the Client, which violatethe provisions of the "User Agreement" and may be illegal.
Illegal actions are understood as Client's attempts to profit from:
- using a possible vulnerability in FXspace Worldwide Fin Services LTD software;
- fraudulent use of the bonuses received;
- unfair use of partner programs,
- unfair acts as a PAMM/RAMM account manager,
- arbitrage trading,
- news trading through multi-directional trades on two or more accounts opened with one ormore brokers, as well as other actions and transactions that violate generally acceptedmarket rules and practice.
If the Company records any of the above actions on the part of the Client, FXspaceWorldwide Fin Services LTD has the right to terminate the "User Agreement", block themethod of receiving suspicious funds, close the Client's account (or all accounts) and returnthe Client's balance not exceeding the initial deposit.
13.6.4 As an official warning of suspicion, FXspace Worldwide Fin Services LTD may (but isnot obliged to) express its suspicion to the Client via email or telephone. If, following awarning, the Client continues to use an illegal trading method, FXspace Worldwide FinServices LTD reserves the right to close all or some of the Client's open positions, to writeoff the Client's account the results of any trading activity which, in the Company's opinion,involves unethical or questionable trading styles, as well as to terminate the "UserAgreement", close the Client's account (or all accounts) and return to the Client a balancenot exceeding the initial deposit.
13.7. The Client agrees that FXspace Worldwide Fin Services LTD reserves the right,however with prior notice, to suspend or partially or completely discontinue the Client'saccess to the services under the "User Agreement". In this situation, the Client's agreementwith the Company is considered to be suspended or fully completed. In case of terminationof the "User Agreement", the balance of the Client's trading account will be returned to theClient, subject to the conditions contained in this Section 13.
13.8. Termination or termination of the "User Agreement" shall not affect any previoustransactions and shall not prejudice any previously acquired rights and obligations of each Party.
13.9 Any provisions of the "User Agreement" relating to Client's risks, obligations andliabilities, warranty disclosure, limitation of liability, compensation, confidentiality and dataprotection, intellectual property rights, notices, claims and complaints remain valid aftertermination of the "User Agreement" for any reason.
14. Refusal to fulfil obligations.
14.1. Failure to fulfil the obligations includes the following circumstances:
- The Client refuses to pay any due amount and fulfil any obligations to FXspace Worldwide Fin Services LTD;
- The initiation by the third-party of a bankruptcy proceeding against the Client or theentering into an agreement with the Client's creditors regarding the settlement of the Client's debt, or the initiation of any other similar proceeding against the Client;
- If the Client is a legal entity: initiation of the procedure for the appointment of theLiquidator or the appointment of an external administrator or a bankruptcy trusteewith respect to the Client or the Client's assets (if the Client is a legal entity);
- Any statement or guarantee made by the Client on FXspace Worldwide Fin ServicesLTD is or becomes false;
- The Company has reasonable grounds to believe that the Client has committed an illegal trading operation, including the use of Sniper Programs, Scalping, Pipsovka, Hedging, placing Stop orders to buy or sell before publishing financial information, arbitrage, manipulation, using “fast” / slow "quotes, etc .;
- The Company has reasonable grounds to believe that the Client Account was opened fraudulently;
- The Company has reasonable grounds to believe that the Client committed a forgery or used a stolen bank card to replenish his Client Account
- In case of the Client's death or legal incompetence;
- Any other circumstance that FXspace Worldwide Fin Services LTD reasonablyconsiders a failure to fulfil the obligations.
14.2 When the Client failed to fulfil the obligations, FXspace Worldwide Fin Services LTDreserves the right to take one or more of the following steps without prior written notice:
- close all Client’s open positions at current quotes;
- close the Client's account(s) with FXspace Worldwide Fin Services LTD;
- prohibit the creation of new accounts for the Client;
- write off the amounts due to FXspace Worldwide Fin Services LTD from the Client'saccount.
15.1. "User Agreement" is written in English. The text of the Agreement in English isprevailing all other translation in any case.
15.2. FXspace Worldwide Fin Services LTD may change this "User Agreement" at itsdiscretion, but with prior notice to the Client, any changes will take effect on the calendar dayfollowing the day of the notice unless otherwise specified in the notice or change.
15.3. FXspace Worldwide Fin Services LTD may assign and transfer its rights andobligations under this Agreement, in whole or in part, without the consent of the Client,provided that the person to whom the rights are transferred agrees to such transfer.FXspace Worldwide Fin Services LTD must notify the Client in writing of such reassignmentat least fifteen (15) calendar days prior to the appointment.
15.4 If FXspace Worldwide Fin Services LTD ceases to provide any services under thisAgreement, the Client should be notified by FXspace Worldwide Fin Services LTD in writingwithin a minimum of fifteen (15) calendar days prior to the termination of the service. Any funds remaining in the Client's trading account shall be returned to the Client after allpositions have been closed and subject to all other provisions contained in this Agreement.
15.5. This Agreement shall be binding and shall serve the assignee and heirs of each party.The Client may not, without the prior written permission of FXspace Worldwide Fin ServicesLTD, transfer, assign all or part of the rights, obligations and/or liabilities under thisAgreement, whether by law, merger or otherwise, to any third-party. Any attempt to do sowithout the prior written consent of FXspace Worldwide Fin Services LTD is null and void.
15.6. In case of Client’s death, the right to claim the funds available on his/her tradingaccount belongs to his/her legal successors, trustees and assigns, excluding the right toperform trading operations on the Client's trading account.
15.7. FXspace Worldwide Fin Services LTD has the right to suspend the Client's service atany time for any reason that FXspace Worldwide Fin Services LTD deems sufficient, withoutprior notice to the Client.
15.8. In the "User Agreement":
- words used in the singular include the plural and vice versa; words for the male sexinclude female and middle sex;
- words for persons include companies, associations and groups of persons (corporateor not);
- the words "may" should be interpreted as permissive;
- "shall" or "will" should be interpreted as insistent;
- expressions related to the written form or similar shall be construed as includingfacsimile printing, lithography, photography, e-mail and other means of presentingwords in visible form;
- "trading operations" means transactions in securities and financial instrumentsoffered by FXspace Worldwide Fin Services LTD and which the Client can executeusing the trading platform offered by FXspace Worldwide Fin Services LTD;
- The phrase "non-trading operations" means deposit or withdrawal of funds from thetrading account;
- "working day" or "business day" means a day that is not a Saturday, Sunday or publicholiday in the country where FXspace Worldwide Fin Services LTD servers arelocated.