Terms of Service Agreement
Please review this document carefully before using the services available on umarkets.com
This Terms of Service Agreement (this “Agreement”) states the terms and conditions upon which Maxi Services (Belize) Limited (herein “the Company”, “Umarkets,” “we” or “us”), will provide services to you on the www.umarkets.com (herein the “Service”). These Terms constitute a contractual agreement between you (the Client) and us. By visiting, accessing, using, joining and/or participating in (herein collectively “using”) the Service, you express your understanding and acceptance of these Terms. As used in this document, the terms “the Client”, “you” or “your” refers to you, any entity you represent, your representatives, successors, appointees and affiliates, and any of your or their devices. If you do not agree to be bound by these Terms, navigate away from the Service and immediately report this to us.
You must be over eighteen (18) years of age to use the Service, unless the age of consent in your jurisdiction is over eighteen (18) years of age, in which case you must be at least the age of consent in your jurisdiction. You acknowledge and guarantee that you are at least the minimum age of consent coinciding with the given clause. We reserve the right to ask you for proof of age and your account may be suspended until satisfactory proof of age is received.
Use of the Service is not permitted where prohibited and you acknowledge that you are not otherwise prohibited to use the Service. Without limiting the foregoing, Use of the Service is not permitted if you are located in or are a resident or citizen of the United States of America. You acknowledge that you are not located in and are not a resident or citizen of the United States of America.
In addition, Use of the Service is not permitted if you are located in or are a resident or citizen of high risk and non-cooperative jurisdictions, as defined by by both the Financial Action Task Force (FATF) and Caribbean Financial Action Task Force (CFATF). The list of high risk and non-cooperative jurisdictions includes Afghanistan, Bosnia and Herzegovina, Iran, Lao People's Democratic Republic, Syria, Uganda, Vanuatu, Yemen, Haiti, Suriname, Democratic People's Republic of Korea. This list is subject to periodic updates by relevant agencies.
You acknowledge and are fully aware that your ability to access the Service does not necessarily mean that you are eligible to use the Service.
Grant of Use; Termination
We grant you a non-exclusive, non-transferable, limited right to access, non-publicly display, and use the Service, including all content and services available therein (the “Content”), on your computer consistent with this Agreement (the “Grant”).
The Grant is terminable (including a partial termination or limitation) by us at will for any reason and at our sole discretion, with or without prior notice.
Upon termination we may, but shall not be obligated to: (i) delete or deactivate your Account (as defined below), (ii) block your e-mail and/or IP addresses or otherwise terminate your use of the Service, and/or (iii) take any other action to prevent your use of the Service. You may also terminate your participation in the Service by providing notice to us at any time. Upon termination for any reason, the grant of your right to use the Service shall be terminated, but all other portions of this Agreement will be maintained. Pursuant to the terms herein, and without limiting the terms of further indemnification and limitations of liability terms herein, you acknowledge that we are not responsible to you or any third party for losses incurred in the case of termination of the Grant.
Without limiting the generality of the foregoing, the Grant shall also terminate automatically upon the occurrence of any of the following: (a) your breach of this Agreement; (b) failure to meet any of your assurances or pledges under this Agreement;
(c) your filing for bankruptcy, or the appointment of a trustee or manager over all or a majority of your assets; (d) your death or legal incapacitation; (e) dissolvement of your company.
The client has the right to terminate service at any time by sending the company a notice of intention to terminate using of services. Upon termination of services, provisions in the
«Deposit and withdrawal of funds» and «Promotions and Bonuses sections (regulating the withdrawal of funds to the Client, including the Client that has used the bonus program) are applicable.
You must create an account on the Service (an “Account”) to use the many functions of the Service. You acknowledge that all information you provide to us while creating your Account is complete and accurate. You undertake to update this information when it changes or at our request.
By creating an Account on behalf of a company or other entity, you acknowledge and guarantee that you have the authority and capacity to enter into this Agreement and that the conditions you are accepting are binding upon the entity that is acting on your behalf.
You shall not use another person or entity’s Account without authorization. You shall be solely responsible for maintaining the confidentiality of and restricted access to your Account. You shall be solely responsible for all activities that occur under your Account. You shall notify us immediately of any breach of security or unauthorized use of your Account. Pursuant to the terms herein, and without limiting the terms of the further indemnification and limitations of liability terms herein, we shall not be liable for any losses resulting from any unauthorized use of your Account and you hereby indemnify us and hold us harmless for any such unauthorized use.
You may only have one Account. You may not share an Account with any other person or entity. If you wish to open more trading accounts you should contact your account manager.
If the Company has reasonable grounds to suspect that an Account was opened with the intention to engage in fraud or/and multiply accounts were created without the account manager’s approval of, the Company reserves the right to cancel any transaction related to that Account.
You authorize us, directly or through third parties, to make, at any time, any inquiries we consider necessary to validate your identity. This may include asking you for further information, requiring you to provide personal information (including your date of birth), or other information that will allow us to reasonably identify you, requiring you to take steps to confirm ownership of your email address or financial instruments, ordering a credit report, or verifying your information against third party databases or through other sources. We may also request to see your passport or other identifying documents at any time. We reserve the right to close, suspend or terminate your use of the Service in the event we are unable to obtain or verify the information we request and gather.
We offer Islamic Forex accounts also known as swap-free Forex accounts, because, within this kind of account, no swap or roll-over interest will be charged to or incurred on positions that are held overnight. These accounts comply with Islamic religious principles. According to the Muslim religion, any business transaction in which one of the parties has to pay or receive some interest from another party is forbidden.
Swap-free-accounts shall be used strictly in good faith for Muslim religious compliance reasons only. We reserve the right to require an adequate justification for and/or proof of the necessity of need of any such conversion. Furthermore, we reserve the right to refuse to process any such request at own discretion, without being obliged to provide any explanation or justification.
You acknowledge that the use of swap-free trading accounts to make profit from swaps is not allowed. We reserve the right to revoke the swap-free status granted to any trading account at any time at its own discretion, without being obliged to provide any explanation or justification.
In the event that we detect any form of abuse, fraud, manipulation, interest/cashback arbitrage or other forms of deceitful or fraudulent activity linked to any swap-free account, we reserve the right, at any time:
To immediately revoke the swap-free status from any trading account of such client
To correct and recover any un-accrued swaps and any related un-accrued interest expenses and/or costs connected to any such client’s swap-free account during the period for which such accounts were converted into swap-free.
Immediately close all trading accounts of such a client with us, nullify all trades carried out in such a client’s trading accounts with us and cancel all profits garnered in such a client’s trading account.
We may change, modify or amend in part, or fully, the above described swap- free-account policy at our discretion, without being obliged to provide any explanation or justification.
The Service; Transactions
The Service allows you, inter alia, to engage in transactions based on certain assets, including currencies, financial instruments defined as CFD’s (contracts for difference) and other securities. You acknowledge and understand that you engage in every action, omission, purchase, sale, trade or other transaction (collectively, “Transactions”) within the Service as a principal and that we do not act as your agent within the Service. You acknowledge that you are directly and fully responsible for fulfilling all your obligations regarding your Transactions on the Service.
After the completion of all security and identification procedures associated with the Service, we will grant you access to the Service unless agreed or stated otherwise. All references to our trading hours are in Greenwich Mean Time (“GMT”) using 24-hour format. Our Service will usually be available continuously from 22:00 GMT Sunday until 22:00 GMT Friday (winter time), or from 23:00 GMT Sunday until 23:00 GMT Friday (Daylights Saving Time) every week, excluding public holidays when the Forex market does not operate and cases where the market is closed due to a lack of liquidity in financial instruments. Please check our website for more details on working hours for each financial instrument at any time. We reserve the right to suspend or modify our working hours at our sole discretion and in such a case, our website will be updated in order to inform you accordingly.
The company offers different spread types to the clients depending on the account types.
1) The company offers fixed spreads trading through the web-platform. Fixed spreads do not change depending on time or general market fluctuations and volatility.
2) The company offers floating spreads trading through the trading platform MetaTrader4. Floating spreads on Forex and CFD markets are a constantly changing values between Ask and Bid prices, depending on market volatility and available liquidity.
You acknowledge that the minimal timeframe for manual execution of transactions on the web platform is 3 minutes. We reserve the right to cancel transactions in cases where the timeframe between the opening of the transaction and its manual closure is less than 3 minutes. There is no minimal timeframe for open positions on the MT4 terminal.
The maximum time frame for keeping an open position on the web platform is 21 days. We reserve the right to close your outstanding transactions if the positions remain open for more than 21 days. If an order is opened with a contract featuring a specific expiration date, it will be closed within 21 days or upon the contract’s expiration date (whichever happens first).
The stop-out level is the level where open positions will be closed automatically in order to prevent further loss and arrival at a negative balance.
When employing the MT4 terminal, the stop-out level shall be calculated as: (equity/used margin)*100%. The default stop-out level on the MT4 terminal is equivalent to 50% for minimal and standard account types and 80% for gold and platinum account types. On the web platform, the stop-out level is calculated as: (equity/balance)*100%. The default stop- out level on the web platform is equivalent to 0%.
The company reserves the right to alter the stop-out level in its sole discretion without prior notice to take immediate effect due to market conditions.
The thresholds of minimum and maximum sizes of lots depend on the type of account as specified in the Company website. We reserve the right to change the thresholds of minimum and maximum lot sizes at our sole discretion. You acknowledge that the Company can close the CFD’s transactions according to the last available market price on the final day of the contract. The closing time is specified on the Company website.
YOU UNDERSTAND AND ACKNOWLEDGE THAT YOU MAY LOSE MONEY AS A RESULT OF YOUR USE OF THE SERVICE (INCLUDING AS A RESULT OF YOUR EXECUTION OF TRANSACTIONS) AND THAT YOU TAKE SOLE RESPONSIBILITY FOR SUCH LOSSES.
Your use of the Service is strictly limited by the terms of this Agreement (including any documents referenced or incorporated herein) and the technical limitations placed on the Service.
The Service carries out your Transactions on an execution-only basis. We are entitled to execute your Transactions even if a Transaction is not beneficial to you. You understand and acknowledge that we assume no responsibility whatsoever for your Transactions. You understand and acknowledge that we assume no responsibility whatsoever for monitoring your Transactions. If at any time we choose, at our sole discretion, to monitor your Transactions for any reason, we assume no responsibility for your Transactions and have no obligation to advise you regarding your Transactions. Without limiting the foregoing, we are under no obligation to make guaranteed deposits or close out any of your open positions.
Clients are provided an opportunity to carry out business operations via phone during business hours. If clients do not wish to use the specified service, they may notify the Company that they do not wish to use it.
In order to help Clients carry out business operations via phone, company employees may provide technical assistance to Clients in opening/closing/changing parameters (take profit, stop loss) of trades on behalf of Clients via phone.
In order to open / close / cancel a Transaction or request to implement an order, the Client needs to contact the Helpdesk (your manager). The Client also has the right to ask the Company to receive regular technical assistance in opening / closing / altering transactions via phone. In this case, the company manager needs to make regular phone contact with Clients in order to assist them in carrying out trading operations.
If the transaction is made over the phone, the Client needs to:
1) Identify themselves by entering the name, patronymic and login account.
2) Respond to possible follow-up question (date of birth, or other personal data provided by Client to the Company). Identify the trade you want to change, and specify what changes need to take place.
Prior to the conclusion of transactions over the phone, a check will be conducted on the margin balance. As a precaution on both sides, all telephone calls are recorded.
The Client agrees that the remote method of opening / closing / altering transactions from the date of receipt of the command / Client's consent to the opening / closing / altering the transactions, there may be fluctuations in the asset. The Client accepts these terms and agrees to drop any claims in the event of usage of the remote method of opening / closing / altering transactions.
A confirmation of the execution of the Client's instructions when opening / closing / altering transactions for the Company will be provided by 1) The Client’s consent to the method of opening / closing / changing transactions, expressed through the adoption of this Agreement, as well as a recording of a telephone conversation with the Client.
Usage of the method of mastering trading operations mentioned above shall not lead to the conclusion of a separate agreement on the part of the Company and the Client, including an agreement of management, etc. All trading operations concluded with the Company’s technical assistance are performed by the Client at the Client’s discretion. As in all other cases, the Company does not carry responsibility for the result of these deals.
The calculation of prices, payouts or losses related to a Transactions at the time it’s opened and closed will be based on our estimate of actual market prices and the expected level of interest rates, implied volatilities and other market conditions during the Transaction’s lifetime. These values are based on complex arithmetic calculations as determined by us at our sole discretion. These calculations include a spread in our favor which means that the values in question may differ substantially from prices available on primary markets where similar transactions are conducted.
All “off-market” Transactions will be cancelled or rolled back and will not carry any profit or loss. “Off-market” Transactions include Transactions that were opened or closed at prices that do not exist in the real-world market.
We do not support physical delivery of currency (or any other securities) in the settlement of any Transaction. Any gains or losses you experience as a result of a Transaction will be deposited to or withdrawn from your Account after the Transaction has been completed.
You acknowledge and agree that in the event that any Transaction is for any reason completed at prices that do not reflect actual market prices for any reason, including an undetected programming error, glitch or any other reason which results in a mispricing, we reserve the right to cancel or roll-back such Transactions.
You agree, acknowledge and accept the fact that you, your Transactions and your use of the Service will be bound by the User Restrictions as defined below.
You acknowledge that any dispute or situation not covered by the Agreement set forth herein will be resolved by the management of the Company in the manner it deems to be fairest to all concerned. That decision shall be final and binding on all the parties.
Restrictions on Use of the Service and Transactions.
You, your Transactions and your use of the Service must satisfy all of the following terms, conditions and restrictions, as well as the other terms, conditions and restrictions contained in this Agreement, in order to qualify for use and continued use of the Service (“User Restrictions”):
You may not cheat, defraud, or mislead us in any manner.
You may not use the Service in any manner we have not explicitly approved and intended for your use.
You may not disable, circumvent, or otherwise interfere with security-related features of the Service, or those that enforce limitations on the use of the Service.
You may not use the Service for any illegal activities.
You may not deposit or otherwise transfer any funds which have originated from any illegal activities into the Service and/or your Account.
In conjunction with your use of the Service,
You may not use any software viruses or any computer code, file or program designed to interrupt, destroy, limit or monitor the functionality of any computer software, hardware or telecommunications equipment in conjunction with your use of the Service.
You may not use the Service in any way that may expose us to criminal or civil liability in any jurisdiction.
You may not take any action that imposes, or may impose, in our sole discretion, an unreasonable or disproportionately large load on our technology infrastructure or otherwise make excessive demands on it.
You may not use any automated means, including robots, crawlers, or data mining tools to monitor or use the Service or to make Transactions. If it discovered that a transaction is or has been executed by a trading robot or any automatic software, we will consider this grounds for termination of the Agreement and cancel the requested transaction. This clause does not apply to the MT4 expert advisers.
You may not “deep-link” to any part of the Service.
You may not resell or permit access to the Service to any third party.
You may not copy any material made accessible by the Service for resale or for any other purpose other than your own use of the Service.
You may use the information acquired on the Service for the sole purpose of executing Transactions on the Service.
You may not use the Service for any purpose which may be tortuous, abusive, intrusive of another’s privacy, harassing, libelous, defamatory, obscene, threatening, hateful or otherwise inappropriate, unlawful or criminal.
You may not furnish any false or incorrect data or information in connection with the Service. You must maintain all information found on the Service or that you have otherwise provided to us correct and up-to-date at all times.
You may not harass us, our employees, independent contractors or other agents in any manner.
You agree and acknowledge that we may use both manual and automated methods to ensure your compliance with the User Restrictions. We retain the sole right, in our discretion, to determine whether you have complied with the User Restrictions.
If we become aware of a possible violation of the User Restrictions or any other violation of this Agreement, we may initiate an investigation into the possible violation that may include gathering information on you, any complaining party and any other material or information which we find to be reliable in our sole discretion. You agree to comply with all reasonable requests by us pursuant to our investigation of violations.
No employee and/or former employee who currently works or used to work on a full time or part time basis for us or any of our related entities shall, during the term of the employee and/or former employee’s work with us, or any of our related entities and after termination of service become a client of any of our brands (either directly or indirectly, alone or with partners, associates, affiliates or any other third party) without our prior written approval. Should we establish that the employee and/or former employee is trading personally and/ or via a third party with any brand of the Company without our prior written approval we shall consider all the trading to be abusive and/or inappropriate. In such an event, the employee and/or former employee’s trading account(s) and all open positions shall be closed immediately and any funds held within the account shall be confiscated.
We reserve the right to take appropriate action against you for any breach of the Use Restrictions or other unauthorized use of the Service, including civil, criminal and injunctive redress in addition to termination of the Grant. Any use of our computer systems not explicitly authorized by this Agreement is a violation of this Agreement and certain domestic, foreign and international laws.
We reserve the right to cancel, roll-back and/or close any Transactions which we determine, in our sole discretion, to be made in violation of this Agreement (including User Restrictions). Without limiting the foregoing, if we believe that you have made repeated Transactions in violation of this Agreement (including User Restrictions), we may cancel, roll-back and/or close all your Transactions.
Content on the Service
You understand and acknowledge that, when using the Service, you may be exposed to a variety of information, data and content from a variety of sources (collectively, “Content”). Content may include market information (“Market Information”) such as quotes, news, analyst opinions, research reports, graphs or other information, data or content that we have drawn from third parties (“Third Party Content”). We do not control and are not responsible for any Third Party Content. All Content is presented to you solely for use on the Service and “AS-IS”.
Without limiting the limitation of liability provisions herein, we make no representations or warranties as to the accuracy, timeliness, correct sequencing, completeness or authenticity of any Content and we shall not be liable for any liability arising from your use of any Content outside of the Service.
You understand and acknowledge that we assume no responsibility whatsoever to you for monitoring the Service for inappropriate or incorrect Content. If at any time we choose, in our sole discretion, to monitor such Content, we assume no responsibility for such Content, have no obligation to modify or remove any such Content, and assume no responsibility for the use of such Content outside of the Service.
Market Information is not intended to be provided as investment advice. We do not endorse or approve any Market Information, but only make it available to you for your own information and convenience for use on the Service.
We may link to third-party websites which are completely independent of us. We assume no responsibility for the content or practices of and make no representations or warranty as to the accuracy, timeliness, correct sequencing, completeness or authenticity of information contained on any third-party websites. We have no right or ability to edit the content of any third-party websites.
We reiterate that all Content (including Market Information and Third Party Content) is provided to you “AS-IS” and is intended solely for your use as part of the Service. Without limiting the foregoing, you acknowledge and understand that the Content may not necessarily correspond exactly with “real-world” values outside of the system. For example, the listed exchange rate for a pair of currencies on our trading platform may lag behind the actual “real-world” exchange rate for that pair of currencies. Market Information may quickly become unreliable for various reasons, including, for example, changes in market conditions or economic circumstances. We undertake no obligation to update any Content (including Market Information) and may discontinue offering any or all Content at any time without notice.
You may not copy, reproduce, distribute, transmit, broadcast, display, sell, license or otherwise exploit the Content for any purpose whatsoever.
Without limiting the foregoing, you acknowledge and agree that we will not be liable for any termination, interruption, delay or inaccuracy of the Service or Content (including Third Party Content and Market Information).
All Content, including Third Party Content and text, graphical images, photographs, music, videos, software, scripts, trademarks, service marks and logos are owned by and/or licensed to us. All Content is subject to copyright, trademark and/or other proprietary rights under the laws of applicable jurisdictions, including domestic laws, foreign laws, and international conventions. We reserve all our rights to the Content.
Except when otherwise explicitly permitted, you agree not to copy, modify, publish, transmit, distribute, participate in the transfer or sale of, create derivative works of, or in any other way exploit, in whole or in part, any Content.
By using our services you agree to be bound fully by all the terms and conditions which the Company may amend or revise at any time by posting the amended terms on the Site and, by continuing to trade through the platform, you affirm that you agree to be bound by future revisions. Whenever such changes to the terms & conditions of this website are made, the Company will post such changes on the website. All amended terms shall be effective 10 days following their initial posting on the website, or as of the first time that you use our services after such amendments were made, whichever comes first. If you do not agree to be bound by the changes to the terms and conditions of this Agreement, do not use or access our services, and inform us in writing immediately.
Deposits and Withdrawals
In order to engage in Transactions, you must deposit funds into your Account (a “Deposit”). You may make a Deposit into your account by using any of the forms of payment made available occasionally by the Service and at our sole discretion. Without limiting the foregoing, we reserve the right to add or remove forms of making Deposits at any time.
If at any time we allow you to make a Deposit by a credit card or debit card, and such Deposit is made in any base currency other than United States Dollars (“USD”), you acknowledge and understand that your credit card may be debited additional amounts to cover exchange rates and credit card or debit card fees.
If at any time we allow you to make a Deposit by wire transfer, you may only use one bank account which must be based in your country of residence and must be in your name. An authentic SWIFT confirmation or transfer confirmation which must be satisfactory to us, must be sent to us verifying any Deposit made by wire transfer. Your failure to submit such a confirmation may result in the return of any Deposit made by wire transfer.
If at any time we allow you to make a Deposit by any other method (including e-wallets, money transfer services and internet payment vendors), we maintain authority to implement any rules, provisions, or regulations we may deem necessary with regards to such Deposits.
The funds in your account may change as a result of the Transactions you execute. You may use the funds in your account to execute Transactions. When you execute a transaction, funds will be withdrawn from your account in order to open a position.
Once your Transaction is completed, your profits or losses will be reflected on your account.
The funds credited to your account will be deposited into our bank accounts in Europe and Asia (not offshore) and may not be separated from other funds, including our own funds or the funds of other users of the Service. You acknowledge and agree that we will not pay you any interest on funds that you have deposited into your Account. You acknowledge and agree that we may use your funds in any manner until they are withdrawn by you in accordance with this Agreement.
You may submit a request for withdrawal of funds in your Account (herein “Withdrawal”). We reserve the right to execute a Withdrawal in any reasonable form in our sole discretion in accordance with our policies and anti-money laundering regulations. Unless otherwise consented to by us with our sole discretion, any funds from a Withdrawal must be deposited using the same method as the one with which the original funds were deposited into your Account (i.e., funds deposited into your account by wire transfer may only be withdrawn by depositing them back into the same bank account which made the wire transfer). We may institute limits on the amount of funds you may withdraw in any given period of time.
The Company’s obligation to return financial assets to the Client according to the Client’s request is maintained even in the case of cessation of the contractual relationship with the Client.
The minimum withdrawal amount is $50. We may request additional documentation supporting your identity authentication prior to execution of a withdrawal order. This documentation is periodically required by Anti-Money Laundering (AML) regulations or Credit Card companies and is a prerequisite for execution of a withdrawal order.
According to credit card company regulations, withdrawal requests related to credit card deposits must be executed by transferring funds to the same credit card from which the deposit was made and in an amount not exceeding the deposit.
If less than 5 independent trades were made, the Account will be charged an additional fee of 5% of the withdrawal amount. We may perform some of our credit card transactions through our affiliated companies. We reserve the right to implement any other security and anti-money laundering rules, provisions and regulations we deem necessary or desirable in order to prevent or limit money laundering, fraud or any other crime or action which we believe may expose us to liability or loss.
We may, in our sole discretion, refuse to process a Withdrawal request or place limits on payment of any of the funds in your Account for any reason if we have reasonable suspicion that you have breached this Agreement.
You agree that you shall pay all transaction costs, including currency exchange costs and wire fees. We reserve the right to charge you for any transaction costs we encounter as a result of your use of the Service.
You shall be solely responsible for the payment of all sales, use, expungement, or related payment of taxes (including VAT) arising from your use of the Service. We reserve the right to withhold amounts for such taxes or to invoice you for any such applicable taxes. Upon creation of your Account or prior to processing of a Withdrawal, we may require you to complete certain tax documents. We may withhold all funds in your Account until such time as you submit these documents to us. If you fail to submit these documents to us within sixty (60) days of receipt of this request, we may suspend your Account until such time as you submit the documents; alternately, we may terminate your use of the Service.
You are solely responsible for maintaining and informing us of the accurate details of your financial institutions. You acknowledge that we are not responsible for mispayments (whether to or from us) arising from your provision of incorrect or obsolete information.
If any funds are accrued to your Account (whether by a Deposit or by Transactions) and we subsequently determine that any such funds were accrued as a result of a breach of this Agreement, we may (without prejudice to any of our other rights) set-off the amount of funds accrued in the breach, along with any related fees, from any funds remaining in your Account. In the alternative case, we may send you an invoice for the set-off amount and you shall pay such an invoice no later than two (2) business days following the due date. If, for any reason (including as a result of losses arising from Transactions), you are under an obligation to pay any amount to us which exceeds the funds in your Account, we may send you an invoice for such an amount and you shall pay such an invoice no later than two (2) business days following the due date.
Without limiting the foregoing, if we determine or form a reasonable belief that you have been using the Service in breach of this Agreement (including in breach of the User Restrictions), we may, in our sole discretion, terminate the Grant and withhold all funds that have accrued to your Account including funds that you have deposited and any profits, bonuses, or other amounts accrued as a result of Transactions.
The Client agrees and acknowledges that he will pay brokerage fees, spreads, rolling commissions, handling commissions and/or other fees or charges according to the Company fee structure. We reserve the right to change the fee structure according to our sole discretion and without additional notice taking immediate effect.
Special offers and bonuses
The company has its right to make special offers and provide different bonuses both to new and to existing clients. The possibility to use a special offer or a bonus is the privilege of the client, and the company has the right to refuse to provide the possibility to its client
at the discretion of the company.
The conditions of the provision of bonuses and special offers are specified in the given section and are also provided on the Company website. In some cases the Company has the right to provide the bonuses to its clients on the conditions which are agreed with the clients individually. The company can provide exclusive bonuses for certain VIP-clients from time to time. Bonuses are only transferred to a client's account after the client has provided all the necessary identification documents.
Types of bonuses:
a) Deposit bonus.
The given bonus is provided by the Company to the clients when the clients deposit their accounts. The amount of the bonus is defined by the Company as a percentage of the amount of the money which the client deposits.The given bonus presupposes the following volume of trade by the client.
Each 1000$ of bonus money the volume of trade must reach:
- 10,000,000$ for the bonus up to 10000$;
- 20,000,000$ for the bonus from 10000$ to 30000$;
- 30,000,000$ for the bonus of more than 30000$.
If the client has two or more accounts in the company, working conditions of the bonus shall be fulfilled for each account, based on the size of the bonus credited to the account and the volume of transactions made on the specified account. Until this condition is fulfilled for all trading accounts, the withdrawal of both bonus money and income from trading is not permitted on all accounts.
The volume of trade does not include the transactions which are opened in the mixed way and those which last less than three minutes.
Example: if you open a «buy» deal on asset X after you have already opened a «sell» deal on asset X, these trades will not count towards the volume necessary to redeem the bonus (as listed in the terms and conditions). Similarly if you open a «sell» deal on asset X after you have already opened a «buy» deal on asset X, these trades will also not count towards the volume necessary to redeem the bonus (as listed in the terms and conditions).
In case there is no trading activity on the account during any period longer than three months from the moment the bonus is deposited and till the moment the volume of trade must be reached, the company has the right to debit the bonus money as well as the whole income on the account of the client for the given period without any notice or agreement with the client.In case there are any suspicions of the fraud with the purpose to reach the necessary volume of trade or use of the bonus, the trading account of the client can be adjusted.
The withdrawal of the bonus and the income from trading activities is not allowed until the volume of trade is reached. When the volume of trade is reached, the whole balance of the account together with the bonuses, deposits and income can be withdrawn without any limitations.
There are no time limits for reaching the volume of trade for the bonus.In case the Client withdraws the money from the account before he/she fulfills the conditions on the volume of trade for the bonus, all the opened positions on the Client's account are closed and the money left on the account of the client is cleared in accordance with the following formula: Account balance = current account balance – the amount of the bonus/es provided – total income obtained by the client since the time the bonus was activated (positive total income only).
b) Advance bonus.
The given bonus is provided to the Company clients by agreement with the clients before the clients deposit their accounts, but on the condition of further depositing the account by the clients.
When such a bonus is provided, the Company and the client agree upon:
- the amount of the bonus;
- the terms when the client shall deposit the account (if this issue is not agreed upon, the client and the company define this term as 7 calendar days);
- the sum that the client shall deposit his/her account with.
If the client does not deposit the account with the necessary some of money and in due time, the Company has the right to debit the advance bonus provided, as well as the whole amount of income, which was obtained with the help of the Client's account during the time period from the provision of the advance bonus till debiting the bonus money by the Company.
Until the client deposits the account with the agreed sum of money or until the bonus is debited by the Company, the client's account is blocked by the Company.
The conditions for the trade volume for the advance bonus are similar to those of the deposit bonus.
The company has the right to change and/or cancel the bonus and special offers program at any time.
The conditions of the special offers and bonuses, provided by the Company, are defined by the Company and the clients are informed about them additionally. If no other conditions are agreed upon by the Company and the client and the offer concerns money bonuses for the clients, the conditions about the amount of trade, the possibility to withdraw the money from the account and other rules are defined in the way, presupposed for the deposit bonus.
Email and SMS newsletter agreement
You agree to receive newsletters from us in the form of e-mails, phone calls and SMS’s to the phone number that you have transmitted to us.You can unsubscribe from the newsletters at any time by sending an e-mail to: email@example.com or contacting your account manager.
You agree and acknowledge that all conversations between yourself and the Company staff may be recorded without previous warning. You agree and acknowledge that these recordings and transcriptions may be used as evidence in any further dispute.
You acknowledge and understand that your use of the Service, including the execution of any Transactions, is at your own risk. Without limiting the foregoing, you acknowledge and accept the high level of risk inherent in the use of the Service and as set out in the “Risk Statement” available on the Service, which is incorporated herein by reference.
Your acceptance of and assent to this ignifies your assent to the Risk Statement and all its terms.
We reserve the right to amend the Risk Statement at any time by posting such amendments to the Service and notifying you of the amendment. Your continued use of the Service following such amendments will constitute your acknowledgement of and agreement to the Risk Statement. You acknowledge that you have read and are familiar
with the terms of the Risk Statement.
To the fullest extent of the law, you accept full responsibility for indemnifying us of and releasing us of any claims, as well as granting us immunity from answering for any pending or completed action, suit, proceeding or alternative dispute resolution mechanism, or any hearing, inquiry, or investigation that we believe may lead to the institution of any such action, suit, proceeding or alternative resolution mechanism, whether civil, criminal, administrative, investigative or otherwise (hereinafter, collectively, a “Claim”) by reason of, connected to, or arising in part or in whole out of any aspect of your use of the Service or this Agreement. You shall indemnify us against any and all expenses, losses, claims, damages, and liabilities, joint or individual, including, without limitation, attorney fees, investigation, legal, court and other out-of-pocket obligations, fees and expenses, as well as expenses resulting in having to appear as witness, incurred by reason of, in connection with or arising in part or in whole out of such a Claim.
In the event of a Claim under this Section, we shall be permitted to select a lawyer for consultation related to such a Claim. We reserve the right to participate in the proceedings of any Claim subject to indemnification from you, but are under no obligation to do so. You shall not settle any such Claim without our prior written consent, which we shall not withhold unreasonably
Limitation of Liability and Release
UNDER NO CIRCUMSTANCE WILL WE BE LIABLE FOR DIRECT, INDIRECT, INCIDENTAL, FACTUAL, PREDICTABLE, INDIRECT, OR PUNITIVE DAMAGES (EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES), INCLUDING LOSS OF REVENUE OR ANTICIPATED PROFITS OR LOSS OF BUSINESS RESULTING FROM ANY ASPECT OF YOUR USE OF THE SERVICE, WHETHER SUCH DAMAGES ARISE FROM (i) YOUR USE, MISUSE OR INABILITY TO USE THE SERVICE, (ii) YOUR RELIANCE ON ANY CONTENT OF THE SERVICE, (iii) THE INTERRUPTION, SUSPENSION, MODIFICATION, ALTERATION OR COMPLETE DISCONTINUANCE OF THE SERVICE, OR (iv) TERMINATION OF THE SERVICE BY US. THE FOREGOING SHALL APPLY REGARDLESS OF THE NEGLIGENCE OR OTHER FAULT OF EITHER PARTY AND REGARDLESS OF WHETHER SUCH LIABILITY IS MENTIONED IN THE CONTRACT AND IRRELEVANT OF THE FACT THAT THIS RESPONSIBILITY IS OR IS NOT MENTIONED IN THE CONTRACT AND MAY RESULT FROM NEGLIGENCE, TORT OR ANY OTHER TYPE OF LIABILITY. THESE LIMITATIONS ALSO APPLY IN THE CASE OF DAMAGES INCURRED FROM OTHER SERVICES OR PRODUCTS RECEIVED OR ADVERTISED IN CONNECTION WITH THE SERVICE. SOME JURISDICTIONS DO NOT ALLOW CERTAIN LIMITATIONS OF LIABILITIES. IN SUCH JURISDICTIONS, SOME OF THE FOREGOING LIMITATIONS MAY NOT APPLY TO YOU. ANY CONTENT OBTAINED THROUGH THE USE OF THE SERVICE IS TO BE HANDLED AT YOUR OWN DISCRETION AND RISK. YOU ARE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM OR OTHER DEVICE OR LOSS OF DATA THAT MAY RESULT FROM USE OF SUCH CONTENT. YOUR SOLE AND EXCLUSIVE RIGHT AND DEFENSE IN CASE OF DISSATISFACTION WITH THE SERVICE OR ANY OTHER GRIEVANCE WITH US SHALL BE THE TERMINATION OF YOUR ACCOUNT.
WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, WE SHALL UNDER NO CIRCUMSTANCE EVER BE LIABLE TO YOU FOR ANY AMOUNT BEYOND THE FUNDS YOU HAVE DEPOSITED INTO YOUR ACCOUNT WHICH YOU HAVE NOT WITHDRAWN OR LOST.
In the event that you are involved in a dispute with any third party, you hereby release us, our officers, employees, agents and assignees from claims, demands and damages (actual and consequential) of any kind, known and unknown, expected and unexpected, disclosed and undisclosed, arising out of or in any way related to such disputes and/or the Service.
Disclaimer of Warranties
You expressly agree that your use of the Service is at your sole and exclusive risk. The Service is provided “AS-IS” and without any warranty or condition, express, implied or statutory. We specifically disclaim to the fullest extent any implied warranties of implied guarantees to meet customer expectations conformity to a particular goal, non-infringement, title, information accuracy, integration, compatibility of work, and smooth use of our service. We refuse to provide any warranties for eliminating viruses or other harmful components related to your work with the Service. Some jurisdictions may not allow the disclaimer of certain warranties. In such jurisdictions, some of the foregoing disclaimers may not apply to you. We do not warrant that (i) the Service will meet your requirements and expectations, (ii) the Service will be uninterrupted, timely, secure or error-free, (iii) the results that you obtain from your use of the Service will be accurate and reliable, (iv) the quality of any products, services, information, content or other material obtained through the Service will meet your requirements or expectations, or (v) any errors in Content or Service operations will be corrected.
At Umarkets we take customers’ complaints very seriously. If you have any complaint in relation to the services provided to you, you should inform us immediately.
Set out below are the procedures for the handling of complaints and disputes with respect to the services provided by Umarkets.
How to submit a complaint
The complaints should be communicated in writing to the account manager, assigned to the account subject to the complaint. A copy of the complaint should be sent to a special dedicated email address: firstname.lastname@example.org
How received complaints are dealt with
When a written complain is received, the accountant manager has 7 days to attempt to resolve the complaint directly with the client. If the complaint cannot be resolved within 7 days by the relevant account manager it will be escalated to the Compliance Officer. Within 7 days of being notified of the complaint, The Compliance Officer will ensure that an acknowledgement letter is sent to the client identifying a specific Compliance Officer as the person who will handle the complaint.
Maximum time frame for dealing with a complaint
The Compliance Officer will act as an impartial investigator and will attempt to resolve the complaint with the client within 7 days of the acknowledgement letter being sent. If the complaint cannot be resolved within the 7day period then a more detailed letter will be written to the client explaining this fact and, if necessary, seeking further information. The Compliance Officer will then have an additional 7 days to resolve the complaint.
If the complaint is more complex and takes longer than 28 days, we will communicate the reasons for the delay.
Remedies for resolving complaints
Each complaint received by the Company is handled case-by-case, and applicable remedies will vary due to the unique circumstances of each complaint. These remedies include, but are not limited to: written or verbal explanation of the issue; referring to and explaining disclosure documents and inherent risks; offering a product for a reduced rate; refunding or crediting a client account; assisting complainants in formulating or lodging complaints; and determining and implementing case-specific remedies. Complaints will be handled at no charge to the complainant, subject to statutory requirements.
Recording and monitoring of complaints
The Compliance Officer ensures that a register of all complaints is maintained. The Compliance Officer, will at a minimum, review the complaints history monthly and document the results and any comments or recommendations in the relevant monthly compliance report. In addition, Company’s complaints history will be reviewed as part of the annual compliance audit/compliance monitoring program.
Governing law and jurisdiction
Governing law and jurisdiction – This Agreement shall be governed by the law of Belize and the parties hereby consent to the exclusive jurisdiction of the courts of Belize
You know, understand and agree that, in general, the Company does not collect taxes on behalf of any authority in any form or manner.
Without limiting the generality of the foregoing, it is your obligation alone to calculate and pay all taxes applicable to you in your country of residence, or otherwise arising as a result of your trading activity using the Services of the Company.
Without renunciation your sole and entire responsibility to perform tax payments, you agree that the Company may deduct taxes, as may be required by the applicable law, but is not obligated to do so, from the results of your activity with the Company. You are aware that amounts that you may withdraw from your account are “gross amounts”, from which the Company may deduct taxes, and that you shall have no claims towards the Company with regard to such deductions.
Relationship of Parties. No partnership, joint venture, agency, franchise, sales representative or employment relationship is intended or created by this Agreement or your use of the Service. Third Party Rights. Nothing in this Agreement is intended, nor will be deemed, to confer rights or return of losses upon third parties. Amendment and Modification. We reserve the right to amend this Agreement (including any documents to which it refers, and which include a) at any time by posting such amendments to the Service. You acknowledge that your continued use of the Service following such amendments shall constitute your acceptance of such amendments, regardless of whether you have actually read them.
Merger. This Agreement (including those documents which are referenced herein, as well as the understanding that they may be periodically amended), constitutes a single agreement between you and us and supersedes all prior agreements between us.
Waiver. Our failure to enforce any provision of this Agreement will not be construed as a waiver of any provision or right. Severability. If any part of this Agreement is determined to be invalid or unenforceable pursuant to applicable law, the invalid and unenforceable provision will be deemed superseded by a valid, enforceable provision that most closely matches the intent of the original provision and the remainder of this agreement shall remain in effect.
Independent Investigation. You acknowledge that you have read this Agreement, including the documents incorporated herein by reference, and any additional relevant documentation and agree to its terms and conditions. You acknowledge that you have independently evaluated the desirability of entering into this Agreement and are not relying on any representation, guarantee, or statement other than those set forth in this Agreement. You acknowledge that you have the right to review this Agreement with your attorney before agreeing to it and that nothing herein and no statement by us or any person associated with us has in any way prevented or inhibited you in any way from seeking such advice before agreeing to this Agreement.
Assignment of rights. This Agreement may not be assigned, transferred or sublicensed by you except with our prior written consent, but may be assigned or transferred by us without restriction. We may resell, assign or transfer our rights and obligations under this Agreement at any time without restriction and without notice or your consent.
Notice. You agree that we may provide you with notices by e-mail, regular mail, or postings by the Service. Notice is deemed to be received by you from the moment it is sent by us. Outside of cases when it is explicitly stated otherwise, you must send us messages via e-mail to email@example.com. These will be deemed to be received when they are, in fact, received by us. Parties agree that a signature produced by mechanical means shall be effective and recognized as valid by both Parties.
Force Majeure. We shall not be responsible for reasonable delay or failure in performance of any obligation pursuant to this Agreement caused by acts of God (or natural disasters), terrorism, strikes, embargoes, fires, war or other causes beyond our reasonable control (collectively, “Force Majeure”). In the case of Force Majeure, we may, in our sole discretion, terminate or suspend the Service and/or cancel, close and/or reverse any open Transactions.
Construction. The section titles in this Agreement are for convenience only and have no legal or contractual effect. As used in this Agreement, the term “including” is illustrative and not limitative.
Languages. In cases where this Agreement (including those documents that have been referenced herein) is translated and issued in a language other than English, the English version shall take precedence in the event of any conflict.
Methods of safeguarding rights. Our rights and means of enforcing the limited safe- guarding are cumulative and not exclusive of any other rights and resources s provided for under the law.
The present Agreement also includes the following applications:
- Risk statement
- Trading conditions and other information related to the trading conditions published on the Company website.
This Agreement is considered to be concluded by the Company and the Client in Belize city, Belize.
This Agreement shall be effective as of the date of the Client’s acceptance of the present Agreement (including the documents incorporated herein). The Client’s acceptance of the Agreement is concluded when the Client registers to the Company’s website and opens a trading account.