Terms and Conditions
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The following describes the terms and conditions upon which Maxi Services Limited.
("MaxiForex" 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.maxiforex.ru. 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 MaxiForex. 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
By using our services you agree to be bound fully by all our terms and
conditions. MaxiForex may amend or revise this Agreement 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 Web site are
made, the Company will post such changes on the Web site.
All amended terms shall be effective 10 days after their initial posting on the
Web site, or as of 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.
Service Agreement
Online Services Agreement is made by and between MaxiForex and you.
This Agreement applies to both the MaxiForex 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 (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, andthe Company reserves the right to refuse and/or cancel services to anyone
at its own discretion.
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 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 and/or solicitation to anyone in any jurisdiction in which such offer
and/or solicitation is not authorized, and/or to any person to whom it is
unlawful to make such an offer and/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 or illegal
activity.
Limited License
MaxiForex 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 of 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
MaxiForex.
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
MaxiForex for the sole purpose of executing transactions inside and within the
MaxiForex 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 MaxiForex 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 or
MaxiForex establishes that you have abused in any way (including but not limited
to engaging in a transaction out of market rates) the MaxiForex trading platform.
Upon such violation, you agree to cease accessing Services. You agree that
MaxiForex, at its sole discretion and with or without notice, may terminate your
access to any or all Services, close your open transaction 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 MaxiForex to use your
Communications in any way it thinks fit, either on the Web site or elsewhere,
with no liability or obligation to you.
MaxiForex 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.
MaxiForex is entitled, but not obligated, to review or retain your Communications.
MaxiForex 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
MaxiForex monitors your Communications. In no event will MaxiForex be liable for any
costs, damages, expenses or any other liabilities incurred by you as a result of
MaxiForex's monitoring activities.
Obligations of MaxiForex
MaxiForex 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.
MaxiForex 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 MaxiForex.
MaxiForex 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.
MaxiForex 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.
- Monthly Report
Tax collection
You know, understand
and agree that, in general, MaxiForex does not collect tax on behalf of 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.
Without derogating from your sole and entire responsibility to perform tax
payments, you agree that the Company may deduct tax, as may be required by the
applicable law, but is not obligated to do so, from the results of the activity
with MaxiForex. You are aware that amounts that may be withdrawn by you from your
account are "gross amounts", from which the Company may deduct such taxes, and
that you shall have no claim towards the Company with regard to such deductions.
Registration Information and Requirements
When you register for
the service, MaxiForex will 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
MaxiForex 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.
MaxiForex 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.
Important information about customer identification
Procedures for opening a new account
To help governments fight the funding of terrorism and money laundering
activities, the applicable laws require that all financial institutions shall
obtain, verify, and record information identifying each person who opens an
account.
What does that mean for you?
When you open an account, we ask that you provide your name, address, date of
birth and other information that will allow us to identify you. We may also ask
to see your Passport (and/or your driver's license) or other identifying
documents.
Privacy Policy
MaxiForex is committed to protecting the
confidentiality of any customer's information, which it may acquire during the
course of providing its services. It is the Company's policy not to disclose
customer's information to non-affiliated third parties, except with the consent
of the customer or when required by law. The Company is providing this Privacy
Policy to help you understand how we protect the privacy of financial and other
non-public personal information about you.
Information We Collect
We collect non-public personal information from you, from the following sources:
- Information we receive from you on applications or other forms;
- Information about your transactions with us; and
- Information we may receive from a consumers' reporting agency.
Categories of
Information We Disclose
We do not disclose any non-public personal information about our customers, or
our former customers, to anyone, except as permitted by law and for
authentication of the client's identity.
Confidentiality and Security
We restrict access of non-public personal information about our customers to
those employees who need to know such information in order to provide service to
your account. We maintain physical, electronic and procedural safeguards, which
comply with all applicable laws, in order to safeguard your non-public personal
information.
Privacy statement
MaxiForex views its customers' privacy and the protection of information
concerning them, to be of prime importance. We store and process your
information on computers located in Europe. Physical and technological security
devices protect these computers.
If you object that we handle your
information in such 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.
Indemnity and right of set-off
The customer hereby
agrees to indemnify and hold harmless MaxiForex, its directors, officers,
employees or agents from and in respect of any loss, damage, liability, cost or
expense that it may suffer or incur by reason of the Customer failing to
discharge its obligations under or acting in breach of any of the terms and
conditions herein contained or as a result of any breach of any applicable laws
or regulations.
In the event that there is any liability of the Customer to MaxiForex its directors, officers, employees or agents under the indemnity provisions of the clause hereinabove, MaxiForex shall have the right to set-off that amount against any balance held to the credit of the account opened by the Customer with MaxiForex.
Limitation of Liability
IN NO EVENT SHALL MAXIFOREX, 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 MAXIFOREX, ITS OFFICERS, DIRECTORS OR EMPLOYEES, TO YOU OR ANY THIRD PARTIES IN ANY PROVEN CIRCUMSTANCE IS LIMITED TO THE AMOUNT OF MONEY YOU TRANSFERRED OR DEPOSITED IN YOUR ACCOUNT AT MAXIFOREX 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 MaxiForex 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 including rolling fees for day trade deals.
Subject to market conditions, 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.
All off-market deals will be cancelled and will not carry any profit or loss. Off market deal is a deal that was opened or closed in prices that did not exist in the market.
Any deals carried out by robots will be cancelled and will not carry any profit or loss. Any account controlled by a robot at any time of its existence will be cancelled along with all the deals carried out in the account.
Trading With Automated Software
MaxiForex does not allow trading via Trading Robots or any other type of automatic trading software. If it is discovered that a trade is or has been executed by a Robot or other software on your behalf, we will consider this grounds for termination of our trading agreement and cancel the requested trade.
Market information
MaxiForex 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. MaxiForex does not endorse or approve the Market Information, and we make it available to you only as a service for your own convenience. MaxiForex 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 MaxiForex 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 MaxiForex 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 MaxiForex 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 MaxiForex 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 MaxiForex or any of MaxiForex'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 or any other reason resulting in mis-pricing (for the purpose of this section the "error"), MaxiForex 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 or other inadequacies that you may experience.
Force Majeure
You agree that MaxiForex 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.
MaxiForex shall not be liable, and you agree not to hold or seek to hold MaxiForex 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.
MaxiForex 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 MaxiForex will have adequate capacity for the Web site as a whole or in any geographic location.
MaxiForex does not represent, warrant or guarantee that the Web site will provide uninterrupted and error-free service. MaxiForex 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 MaxiForex 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
MaxiForex 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.
MaxiForex 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 MaxiForex 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 MaxiForex 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 MaxiForex 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 MaxiForex.
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 MaxiForex and/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.
Deposits and withdrawals
Withdrawal orders: The provision of documentation or any other type of Client authentication as may be required from time to time by Anti Money Laundering (AML) regulations, Credit Card companies and MaxiForex, 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 and documentation from the Client.
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.
Wire Transfers: 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 or Transfer Confirmation, showing the origin of the funds, must be sent to MaxiForex. Failure to submit such SWIFT/Confirmation may result in the return of the deposited amount, hence preventing the deposit of such pending amounts to your MaxiForex account. Any withdrawal of funds, from your MaxiForex account to a bank account, can only be refunded to the same bank account that the funds were originally received from.
Alternative payment methods (e-wallets; money transfer services; internet payment vendors; 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. MaxiForex, at its sole discretion, may execute withdrawals to a facility other than the facility used for the original deposit, in accordance with Company and Anti money-laundering regulations.
Bonus Structure and Withdrawal Approval
Clients may not make any withdrawals until the necessary trading volume is completed; for every $1000 bonus received, clients must trade $10,000,000 in trading volume. Please note that until the required trading volume has been satisfied, withdrawals of bonus funds or trading profit are not allowed. UFX Bank refers to Volume in rounded terms. You may opt out of the bonus program, in which case, no minimum trading volume need be reached before requesting a withdrawal. However, if you do receive a bonus and request a withdrawal before the trading volume conditions are met, only your initial deposit less Profits and Losses may be withdrawn and trading will not be permitted on the remaining bonus amount and / or any profit generated.
As an example, if you deposit $15,000 USD and receive a $4,500 USD bonus, you may not withdraw your profits until a trade volume of $45,000,000 USD is reached. A running total of your volume will be recorded. After the trade volume is reached, the entire account balance of deposit, bonus and profits will have no withdraw restrictions.
In order to clarify, if you were to deposit $15,000 USD and receive our 30% bonus at $4,500 USD, then placed one trade and made $500 USD profit. Your total account balance would be $20,000 USD. If you submitted a withdrawal request to close the account, you would only be able to withdraw your initial deposit of $15,000 USD. In addition, your account would be closed and you would be unable to continue trading with MaxiForex.
There is no time limitation for achieving the trading requirements.
Governing law and Jurisdiction
The Terms and Conditions shall be governed by the law of Anguilla, BWI and the parties hereby consent to the exclusive jurisdiction of the courts of Anguilla, BWI.
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