User Agreement
The following describes the terms and conditions upon which
Easy-Forex Inc. (“Easy-Forex” or “the Company” or “we”) offers access to its Web site to you the
customer (hereinafter “you” or “user” or “customer”) and the use of its services (hereinafter the
"Agreement" or "User Agreement" or “Online Services Agreement”).
This Agreement describes the
terms, conditions and risks applicable to your use of our services available under the domain and
sub-domains of www.easy-forex.com (the "Site"
or “Web site”). If you have any questions regarding this Agreement please contact Customer Support
You must read, agree with
and accept all of the terms and conditions contained in this User Agreement without modifications,
which include those terms and conditions expressly set forth below and those incorporated by
reference, before you may become a customer of Easy-Forex. By continuing to access or use the Web
site, you agree to follow the Terms and Conditions of this Agreement as they may apply to
you.
This Agreement is effective upon acceptance in registration for newly registering
customers, or upon receipt of e-mail notification by other users. The Agreement is otherwise
effective for all users as of March 14th, 2004. The previous terms and conditions are effective for
all transactions that were not closed on or before March 14th, 2004 made by users who registered
before March 9th, 2004 and who did not receive an e-mail notification of the new
Agreement.
If you do not agree to be bound by the terms and conditions
of this Agreement, do not use or access our services, and inform us in writing
immediately.
Amendments
Easy-Forex may amend or revise this
Agreement at any time by posting the amended terms on the Site and you agree to be bound by future
revisions. The Company will advise current registered users by e-mail of material changes to the
terms and conditions of this Web site from time to time. Whenever such changes to the terms &
conditions of this Web site are made, the Company will post a note on the Web site.
All
amended terms shall be automatically effective 10 days after their initial posting on the Web site,
upon sending a notification to you by e-mail, or at the first time that you use our services after
such amendments were made, whichever is sooner.
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.
Online Services
Agreement
This Online Services Agreement is made by and between Easy-Forex and
you.
This Agreement applies to both the Easy-Forex Web site and trading platform, as well as
to the electronic content and or software currently contained on the Web site that supplies the
customer with real time information about the exchange rate of some currencies , as well as with the
program facilities for executing trading transactions in the foreign exchange market via the web,
phone or fax (hereinafter referred to as the “Service” or “forex” or “forex market”), and any other
features, content or services that the Company may add in the future.
Membership
Eligibility
Our services are available to and may only be used by individuals or
companies who can form legally binding contracts under the law applicable to their country of
residence. Without limiting the foregoing, our services are not available to persons under the age
of 18 or otherwise under legal age (“minors”). If you are a minor, you may not use this
service. IF YOU DO NOT QUALIFY, PLEASE DO NOT USE OUR SITE.
For avoidance of doubt, We
shall not be responsible for any unauthorized use by minors of our Services in any way or
manner.
Furthermore, our services are available only to, and may only
be used by individuals who have sufficient experience and knowledge in financial matters to be
capable of evaluating the merits and risks of acquiring financial contracts via this Site and have
done so without relying on any information contained in this Site. Without derogating
from the above provision, we shall not be responsible for verifying and/or checking whether you
possess such sufficient knowledge and/or experience, nor shall we be responsible for any damage
and/or loss incurred by you as a result of insufficient knowledge and/or experience. IF YOU DO NOT
QUALIFY, PLEASE DO NOT USE OUR WEB SITE.
Without limiting the foregoing, our services are not available where they are
illegal to use, and the Company reserves the right to refuse and/or cancel services to anyone at
its own discretion.
Easy-Forex is not currently authorized to open accounts for US
residents.
Legal Restrictions
Without limiting the foregoing, you
understand that laws regarding financial contracts vary throughout the world, and it is your
obligation alone to ensure that you fully comply with any law, regulation or directive, relevant to
your country of residency with regards to the use of the Web site. For avoidance of doubt, the
ability to access to our Web site does not necessarily mean that our Services, and/or your
activities through it, are legal under the laws, regulations or directives relevant to your country
of residency.
This Web site does not constitute, and may not be used for the purposes of, an
offer or solicitation to anyone in any jurisdiction in which such offer or solicitation is not
authorized, or to any person to whom it is unlawful to make such an offer or solicitation. Access to
this Web site, and the offering of financial contracts via this site, may be restricted in certain
jurisdictions, and, accordingly, users accessing this site are required to inform themselves of, and
to observe, such restrictions.
You hereby declare that the moneys
invested in your account with the Company do not originate from drug trafficking, abduction, or any
other criminal activity.
Limited License
Easy-Forex grants
you a non-exclusive, non-transferable and limited personal license to access and use its Web site
(the “license”). This license is conditioned on your continued compliance with the terms and
conditions of this Agreement.
You agree not to “deep-link” to the Web site, resell or permit
access to the Web site to others, and not to copy any materials appearing on the Web site for resale
or for any other purpose to others without the prior written consent of Easy-Forex.
For
avoidance of doubt, you shall be responsible and bound by any unauthorized use of the site, made in
breach of this section.
You agree to use the information received from the information
systems of Easy-Forex for the sole purpose of executing transactions inside and within the Easy-
Forex Web site.
You further agree not to use any electronic communication feature of a
Service on the Site for any purpose that is unlawful, tortuous, abusive, intrusive on another's
privacy, harassing, libelous, defamatory, embarrassing, obscene, threatening or hateful.
The
license granted under this Agreement will terminate if Easy-Forex believes that any information
provided by you, including your e-mail address, is no longer current or accurate, or if you fail to
otherwise comply with any term or condition of this Agreement and all rules and guidelines for each
service.
Upon such violation, you agree to cease accessing Services. You agree that Easy-
Forex, at its sole discretion and with or without notice, may terminate your access to any or all
Services, and remove and discard any information or content within a
Service.
Communications
Unless otherwise indicated for a particular Service,
any communications or material of any kind that you e-mail or otherwise transmit through the
Services, including information, data, questions, comments or suggestions (your "Communications")
will be treated as non-proprietary and non-confidential.
By accepting this Agreement you
grant a license to Easy-Forex to use your Communications in any way it thinks fit, either on the Web
site or elsewhere, with no liability or obligation to you. Easy-Forex is free to use any idea,
concept, know-how or technique or information contained in your Communications for any purpose
including, but not limited to, developing and marketing products.
Easy-Forex is entitled, but
not obligated, to review or retain your Communications. Easy-Forex may monitor your Communications
to evaluate the quality of service you receive, your compliance with this Agreement, the security of
the Web site, or for other reasons. You agree that such monitoring activities will not entitle you
to any cause of action or other right with respect to the manner in which Easy-Forex monitors your
Communications. In no event will Easy-Forex be liable for any costs, damages, expenses or any other
liabilities incurred by you as a result of Easy-Forex's monitoring activities.
Registration
Information and Requirements
When you register for the service, Easy-Forex may ask
you to provide certain identifying information ("Registration").
You agree to provide true,
accurate, current and complete information about yourself during the Registration process, and you
also agree not to impersonate any person or entity, misrepresent any affiliation with another
person, entity or association, use false headers or otherwise conceal your identity from Easy-Forex
for any purpose. If you are registering as or for a business entity, you hereby declare that you
have the authority to bind that entity to this Agreement.
Easy-Forex will treat with care
the information you entrust to the Company, in accordance with the disclosures it provides during
the Registration process and in its Privacy Policy.
During the Registration process you will
be asked to choose a user name and password that will be used by you every time you access the Web
site to use the service. For your protection and that of other Web site users, you should not share
your Registration information (including your password and username) with another person or business
entity for any purpose including, but not limited to, facilitating access and unauthorized
use of the Service. You alone are responsible for all acts or omissions that occur within the Web
site through the use of your Registration information.
If you believe that someone has
used or is using your Registration information, user name or password to access any Service without
your authorization, you should notify our Customer
Support immediately.
Obligations of Easy-Forex
Easy-Forex will
supply you with the informational and technical means to use its Services in a twenty-four-hour mode
of operation starting Sunday 22:00 GMT to Friday 21:00 GMT except on official holidays in the USA
and Europe.
Easy-Forex shall provide you with access to trading transactions and quotes
through the reserve in a twenty-four-hour mode of operation starting Sunday 22:00 GMT to Friday
21:00 GMT, except on official holidays in the USA and Europe, through the operators of Easy-
Forex.
Easy-Forex will fulfill to the best of its abilities all your trading orders, keep the
register of your orders and of their fulfillment, and will provide you with necessary extracts upon
your request.
Easy-Forex shall provide the following online reports:
- Open
Positions: Report presenting the account’s open transactions.
- Account
Statement: Report presenting the account's balance and statement at a given point of
time.
Tax collection
You know, understand and agree that Easy-Forex
does not collect tax for any authority in any form or manner.
Without limiting 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 from the use of the Company's
Services.
Privacy statement
Easy Forex views its customers' privacy and
protection of information concerning them to be of prime importance. We store and process your
information on computers located in the USA. These computers are protected by physical and
technological security devices. If you object to your information being handled in this manner,
please do not use our services.
We shall not sell or rent your personal information to
third parties for any purposes without your explicit consent and we shall only use your information
as described in our Privacy Policy.
Limitation of Liability and Indemnification
You agree
to indemnify and hold Easy-Forex and its affiliates, agents, employees and licensors (including the
Third Party Providers) harmless against all actions, claims, demands, proceedings, damages, costs,
charges and expenses incurred by Easy-Forex, arising out of or relating to your violation of this
Agreement, as well as any applicable laws or regulations or any other person's rights, or any
misrepresentation made by you or any breach of your representations or warranties.
IN NO
EVENT SHALL EASY-FOREX, ITS OFFICERS, DIRECTORS OR EMPLOYEES BE LIABLE FOR LOST PROFITS OR ANY
SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR IN CONNECTION WITH OUR WEB SITE, OUR
SERVICES OR THIS AGREEMENT (HOWEVER ARISING, INCLUDING NEGLIGENCE) EXCEPT AS STATED IN THIS
AGREEMENT.
THE LIABILITY OF EASY-FOREX, ITS OFFICERS, DIRECTORS OR EMPLOYEES, TO YOU OR ANY
THIRD PARTIES IN ANY CIRCUMSTANCE IS LIMITED TO THE AMOUNT OF MONEY YOU TRANSFERRED OR DEPOSITED IN
YOUR ACCOUNT AT EASY-FOREX IN RELATION TO THE TRANSACTION GIVING RISE TO SUCH
LIABILITY.
Risk Statement
You agree to use the Web site at your own risk.
Without limiting the
foregoing, the financial services contained within this site are suitable only for customers who are
able to bear the loss of all the money they invest, and who understand the risks and have
experience in taking risks involved in the acquisition of financial contracts.
International
currency prices are highly volatile and are very difficult to predict. Due to such volatility, in
addition to the spread that Easy-Forex adds to all calculations and quotes (as described below in
further detail), no financial contract purchased or other Service offered in
our Web site (whether or not the payout exceeds the premium amount) may be considered as a safe trade.
The maximum loss that may be
incurred by any customer is the amount of money paid by them to the Company.
Stop Loss Orders
shall be executed either at the exact exchange rate selected by the customer, where the amount will
be calculated automatically, or at the exact amount of loss selected by the customer, where the
exchange rate will be calculated accordingly. A transaction of that nature shall be executed as soon
as the distinctive ("indicative") exchange rate is found on the financial information systems which,
including the Company's spread, is either identical to the order given by the customer, or indicates
an identical amount of loss declared by the customer.
The calculation of the price to be paid
(or the payout to be received) for financial contracts on this site, at the time the financial
contract is purchased or sold, will be based on the Company's best estimate of market prices and the
expected level of interest rates, implied volatilities and other market conditions during the life
of the financial contract, and is based on a complex arithmetic calculation.
The
calculation will include a spread in favor of the Company. The financial contract prices (or the
payout amounts) offered to customers speculating on market or index prices, may differ substantially
from prices available in the primary markets where such contracts are traded, due to the spread
favoring the Company in the price calculation system referred to above.
The Company does not
provide a market amongst or between customers for investments or speculations. Each financial
contract purchased by a customer via this site is an individual Agreement made between that customer
and the Company, and is not transferable, negotiable or assignable to or with any third
party.
Market information
Easy-Forex may make available to you through
one or more of its Services a broad range of financial information that is generated internally or
obtained from agents, vendors or partners ("Third Party Providers"). This includes, but is not
limited to, financial market data, quotes, news, analyst opinions and research reports, graphs or
data. ("Market Information”).
Market Information provided on these Web pages is not intended
as investment advice. Easy-Forex does not endorse or approve the Market Information, and we make it
available to you only as a service for your own convenience. Easy-Forex and its Third Party
Providers do not guarantee the accuracy, timeliness, completeness or correct sequencing of the
Market Information, or warrant any results from your use or reliance on the Market
Information.
Market Information may quickly become unreliable for various reasons including,
for example, changes in market conditions or economic circumstances. Neither Easy-Forex nor the
Third Party Providers are obligated to update any information or opinions contained in any Market
Information, and we may discontinue offering Market Information at any time without
notice.
You agree that neither Easy-Forex nor the Third Party Providers will be liable in any
way for the termination, interruption, delay or inaccuracy of any Market Information. You will not
“deep-link”, redistribute or facilitate the redistribution of Market Information, nor will you
provide access to Market Information to anyone who is not authorized by Easy-Forex to receive Market
Information.
Use & Access to the Site
You shall be responsible for
providing and maintaining the means by which to access the Web site, which may include, but is not
limited to, a personal computer, modem and telephone or other access line.
You shall be
responsible for all access and service fees necessary to connect to the Web site and assume all
charges incurred in accessing such systems. You further assume all risks associated with the use and
storage of information on your personal computer or on any other computer through which you will
gain access to the Web site and the services (hereinafter referred to as “computer” or “your
computer”).
You represent and warrant that you have implemented and plan to operate and
maintain appropriate protection in relation to the security and control of access to your computer,
computer viruses or other similar harmful or inappropriate materials, devices, information or
data.
You agree that Easy-Forex will not be liable in any way to you in the event of failure
of or damage or destruction to your computer systems, data or records or any part thereof, or for
delays, losses, errors or omissions resulting from the failure or mismanagement of any
telecommunications or computer equipment or software.
You will not transmit to or in any way,
whether directly or indirectly, expose Easy-Forex or any of Easy-Forex's online service providers to
any computer virus or other similarly harmful or inappropriate material or
device.
Acquisition of a financial contract is completed when the financial contract has been
customized, the premium (or the margin, as the case may be) has been calculated and payment has been
verified.
You agree to be fully and personally liable for the due settlement of every
transaction entered into under your account with the Company. You are responsible for ensuring that
you alone control access to your account, and that no minor or other person is granted access to
trading on the Web site using your account. In any case, you alone remain fully liable for any and
all positions traded on your account, and for any credit card transactions entered into the Site for
your account. You agree to indemnify the Company fully in respect to all costs and losses whatsoever
as may be incurred by the Company as a result, direct or indirect, of your failure to perform or
settle such a transaction.
You agree that in the case that any financial contract is acquired
or sold at prices that do not reflect its market prices, or that is acquired or sold at an
abnormally low level of risk (the “mis-pricing”) due to an undetected programming error, bug,
defect, error or glitch in our Web site software (the “error”), Easy-Forex reserves the right to
cancel such transactions upon notifying you of the nature of the computer error that led to the mis
-pricing. You have a duty to report to the Company any problem, error or suspected system
inadequacies that you may experience.
Company’s rights
Easy-Forex
reserves the right to suspend the operation of this site or any part or sections of it. In such an
event, Easy-Forex may, at its sole discretion (with or without notice), close out the customers'
open financial contracts at prices it considers fair and reasonable at such a time and no claims may
be entertained against the Company in connection thereto.
Easy-Forex may, at its sole
discretion, impose volume limits on Customer accounts.
Contract payouts shall be determined
by Easy-Forex by reference to the daily values reported on this Web site relevant to the interbank
trading data received by the Company for forex quotes, subject to the proviso that Easy-Forex shall
have the right to make corrections to such data in the event of mis-priced or typographically
incorrect data.
Force Majeure
You agree that Easy-Forex will not be
liable in any way to you or to any other person in the event of force majeure, or for the act of any
Government or legal authority, or for the failure of or damage or destruction to its computer
systems, data or records or any part thereof, or for delays, losses, errors or omissions resulting
from the failure or mismanagement of any telecommunications or computer equipment or
software.
The parties shall be released of all responsibilities for partial, full or non-
fulfillment, as well as for improper fulfillment of the obligations under this Agreement, if such
non-fulfillment or improper fulfillment was a result of extraordinary events, which occurred after
this Agreement was concluded and which the party could not either foresee or prevent (natural
calamities, wars, armed conflicts etc.).
Technical Problems
You
understand that while the Internet and the World Wide Web are generally reliable, technical problems
or other conditions may delay or prevent you from accessing the Web site.
Easy-Forex shall
not be liable, and you agree not to hold or seek to hold Easy-Forex or any of its agents or service
providers liable, for any technical problems, system failures and malfunctions, communication line
failures, equipment or software failures or malfunctions, system access issues, system capacity
issues, high Internet traffic demand, security breaches and unauthorized access, and other similar
computer problems and defects.
Easy-Forex does not represent, warrant or guarantee that you
will be able to access or use the Web site at times or locations of your choosing, or that Easy-
Forex will have adequate capacity for the Web site as a whole or in any geographic
location.
Easy-Forex does not represent, warrant or guarantee that the Web site will provide
uninterrupted and error-free service. Easy-Forex does not make any warranties or guarantees with
respect to the Web site and its content, including but not limited to, warranties for
merchantability or fitness for a particular purpose.
Without limiting the foregoing Easy-
Forex will not be responsible for an impossibility to execute orders and requirements due to
failures in the operation of informational systems caused by technical faults, which are beyond its
control.
Hyperlinks
Easy-Forex may provide a link to other sites that
are controlled or offered by third parties. Such link to a site or sites is not an endorsement,
authorization, sponsorship or affiliation with respect to such site, its owners or its
providers.
Easy-Forex cautions you to ensure that you understand the risks involved in using
such sites before retrieving, using, relying upon or purchasing anything via the
Internet.
Links to these Web sites are provided solely for your convenience, and you agree
that under no circumstances will you hold Easy-Forex liable for any loss or damage caused by use of
or reliance on any content, goods or services available on other sites.
Trademarks and
Copyrights
All content, trademarks, services marks, trade names, logos and icons are
the property of Easy-Forex or its affiliates or agents and are protected by copyright laws and
international treaties and provisions.
You agree not to delete any copyright notices or other
indications of protected intellectual property rights from materials that you print or download from
the Web site. You will not obtain any intellectual property rights in, or any right or license to
use such materials or the Web site, other than as set out in this Agreement.
Images displayed
on the Web site are either the property of Easy-Forex or used with permission. You agree not to
upload, post, reproduce or distribute any information, software or other material protected by
copyright or any other intellectual property right (as well as rights of publicity and privacy)
without first obtaining the permission of the owner of such rights and the prior written consent of
Easy-Forex.
Nothing contained on the Web site shall be construed as granting, by implication,
estoppels, or otherwise, any license or right to use any trademark without the written permission of
Easy-Forex or such third party that may own the trademarks. Your use of the trademarks, or any other
content of the Web site, except as provided herein, is strictly prohibited.
Governing Law,
Arbitration and Court Jurisdiction
This Agreement, shall be governed by the laws of
Switzerland, without regard to conflicts of law principles thereof. This is the case regardless
of whether you reside or transact business with Easy-Forex anywhere else in the world.
If any
part of this Agreement is unlawful, void or unenforceable, that part will be deemed severable and
will not affect the validity and enforceability of any remaining provisions.
The parties
recognize electronic and magnetic recordings as evidence when settling disputable matters, in order
to state any facts concerning the obligations for trading operations in the FOREX
market.
Binding Arbitration: For any Claim (excluding Claims for injunctive or other
equitable relief) where the total amount of the award sought is less than $10,000, you or Easy-Forex
may elect to resolve the dispute through binding arbitration conducted in person, on-line or
based solely upon written submissions where no in-person appearance is required. In such cases, the
arbitration shall be administered by the Swiss Bar in accordance with their applicable rules, or any
other established Alternative Dispute Resolution provider mutually agreed upon by the parties. Any
judgment on the award rendered by the arbitrator may be entered, exclusively, in any court located
within the City of Zurich, Switzerland, having jurisdiction thereof.
Exclusive
Court Jurisdiction: Alternatively, you agree to submit to the personal and exclusive
jurisdiction of the courts located within the City of Zurich, Switzerland to settle any
dispute, which may arise in relation thereto.
Disclosures
The services
hereunder are offered by Easy-Forex Pty Ltd., located at 437 St. Kilda Rd, Melbourne,
Australia.
It is important that you be fully aware of the following
points:
- The high level of leverage effect
possible in conducting foreign currency transactions stems from the fact that it is only necessary
to pay relatively modest margins or guarantees in relation to the scope of the
contract.
- The result of the above is that even a slight fluctuation of the market
could mean substantial gains when these fluctuations are in your favor, but that could also mean
considerable losses if the fluctuations are to your detriment.
- No system exists
that could assure you that transactions on the foreign currency market should bring you great
benefits, nor is it possible to guarantee, that your transactions will yield favorable
results.
- Even though the foreign currency markets are fluid (liquid) as compared
with other financial and exchange markets, the market conditions might at times render the execution
of an order or of a limit order at a stipulated price impossible.
- The amount you
could lose in a transaction carrying limited risk will never be more appreciable than that which you
can lose in transactions having no pre-determined limit on loss.
- Nevertheless,
even though the extent of the losses could be subjected to an agreed upon limit, the risk of
incurring losses could be higher, and that loss could occur in a relatively short period of
time.
- It is possible that some unfavorable situations
on the market could occur, in a relatively short period of time, resulting in the TOTAL LOSS of your
investment.
- Since deposit of an additional guarantee is not
obligatory in this case, Easy-Forex reserves the right to close the outstanding balances without the
customer's consent.
- The risk information presented here does not reflect all
of the risks as well as other important aspects intrinsic to the FOREX market. Therefore, before
starting to trade, you should learn the specifics of trading on FOREX markets in
detail.
- You should conclude an Agreement for opening and/or closing transactions
on the FOREX market only if you are absolutely sure of the size of its possible risk and
consequences, and if you understand in detail the scope and range of your rights and
obligations.
- Withdrawal orders: The provision of documentation as may be required from time to time by AML regulations, Credit Card companies and Easy forex, is a prerequisite, prior to the execution of a withdrawal order.
- Credit card deposits may be, according to credit card companies' regulations, returned to same credit card when a withdrawal is performed. A withdrawal to a bank account where initial deposits have been performed by credit cards will be executed back to credit card or to bank account at company's discretion. Withdrawals to bank account may take a longer time period, due to additional security procedures.
- Credit Card Deposits Variance: When choosing an account base currency other than USD, your credit card may be debited sums which due to exchange rates and credit card companies’ fees, may slightly vary from the initial sum that has been deposited by you in the account base currency. You hereby accept that such variations may occur and you hereby affirm that you shall not seek to object or charge this back. Note that when Using USD as account base currency this phenomena will be avoided.
- When depositing by a Bank Transfer, as required by anti money-laundering regulations, you are required to use only one bank account, which is in your country of residence and in your name. An authentic SWIFT confirmation, showing the origin of the funds, must be sent to Easy Forex. Failure to submit such SWIFT may result in the return of the deposited amount, hence preventing the deposit of such pending amounts to your Easy Forex account. Any withdrawal of funds, from your Easy Forex account to a bank account, can only be refunded to the same bank account that the funds were originally received from.
- Alternative payment methods (internet payment vendors; money transfer services; etc.): when depositing funds using a facility other than Credit Cards and/or Banks, you agree to, and acknowledge being bound by, the regulations and rules of such service, including, but not limited to, fees and other restrictions. Easy Forex, at its sole discretion, may execute withdrawals to a facility other than the facility used for the original deposit, in accordance with anti money-laundering regulations.
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