Agreement for Business Conduct and Risk Disclosure electronically :
- Applications electronically.
If you decide to create a Trading Account with BullishFx through the website or Bfx Mobile, then you agree to accept the Risk Disclosure Statement contained in the Trader/Member Agreement and the Transaction Disclosure electronically.
- Electronic communication.
Risk Disclosure Statements, Trader/Member Agreements, Trader/Member Account Letters, and Electronic Transaction Disclosures, and any notices, instructions, agreements, or other communication Transactions on your Account (all of which are referred to herein as “Communications”) may be presented, sent, stored, retrieved, and transmitted electronically.
- Implementation of the Electronic Transactions.
Agreement and the transactions will be carried out with the use of electronic records and electronic signatures.
- Doing Business in Electronic approval.
The decision to do business electronically is yours, and you should consider whether you have the hardware and software capabilities required. Your consent to do business electronically, and our agreement to do so, only applies to the establishment and maintenance of accounts and the execution of transactions relating to your account.
- Withdrawal of approval.
You have the right to withdraw your consent to doing business electronically at any time. Withdrawal only applies to the customer’s bank account on behalf of itself and can not be sent to the account on behalf of others.
- Changes in your information.
You must inform us of any changes to an electronic mail address or other contact information.
- You may print this document by selecting Print from the File menu.
- Your ability to access the Communications. When you choose the “I Agree” below, you acknowledge that you have the ability to access the Communications.
- Approval of Electronic Communications. When you choose the “I Agree” button below, you agree to have all Communications provided or made available to you in electronic form.
- Approval for the implementation of electronic transactions. When you choose the “I Agree” button below, you agree to execute the Agreement and Transactions by electronic record and / or electronic signatures.
A. RISK DISCLOSURE STATEMENT
This brief statement (although not required for OTC / Over The Counter Trading) Trader/Member states he understands and understands all risks and other important aspects of leveraged trading and investing.
Given this risk, you should enter into such a trade only if you understand the nature of the contract trade and the contractual relationship you are entering into and your level of exposure to risk.
You should carefully consider whether leveraged trading is suitable for you based on your experience, goals, financial resources and other circumstances.
1. Effect of Leverage or Gearing
Transactions on OTC accounts are high risk with a relatively small initial margin compared to the value of OTC contracts so transactions are leveraged.
A relatively small market movement will have a proportionately larger impact on the funds you have deposited and this can cost you a lot.
If the market moves against your position, spreads widen or margin levels increase, you may experience a loss of initial margin funds and additional funds held to maintain your trading position and you may also be required to pay substantial additional funds over a short period of time to maintain your trading position. .
If you fail to meet the request for additional funds within the allotted time, your trading position may be liquidated at a loss.
2. Risk-reducing orders or strategies
Placement of certain orders (e.g. stop-loss orders, where permitted under local law, or stop-limit orders) which are intended to limit losses to certain amounts may not be effective because market conditions may not allow to execute such orders.
Strategies using combinations of positions, such as spread and straddle positions may be as risky as taking a position LONG or SHORT simple.
3. Terms and conditions of the Forex Trading
You can ask the company about the terms and conditions of the particular currency you are trading and related obligations (e.g. circumstances where you are required to make or receive remittances of the full currency value).
4. Suspension or restriction of trading and pricing relationships
Market conditions (e.g. liquidity) and/or the operation of certain market rules (e.g. suspension of trading in any currency due to price restrictions, government intervention or “outflow”) may increase the risk of loss by making it difficult or impossible to enter into transactions or liquidate/close positions your trade.
5. Deposited cash and property
There is no protection for you to give cash or property to someone for the purpose of representing you to trade.
Trading in cash and property may be justified in some jurisdictions, property that is specifically identifiable as your own and will be prorated in the same way as cash for distribution purposes in the event of a decline.
6. Transaction fees and other fees
Before you start trading, you should get a clear explanation of all transaction fees, markup spreads, markdown spreads, rollovers, stay fees, interest rate differences and any other fees you will incur. These costs will affect your net income (if any) or increase your losses.
7. Transactions in other jurisdictions
Transactions in the currencies of other countries or jurisdictions, including markets officially linked to the domestic market, may expose you to additional risk. Such markets may be subject to regulations which may offer members different or reduced protections.
Before you trade, you should inquire about any rules relevant to your transaction. Your local regulatory authority will not be able to compel enforcement of regulatory authority or market rules in other jurisdictions where you have traded, but you have the right to stop your trade immediately if you feel uncomfortable with your trade.
You should ask the firm with which you deal for details about the types of redress available in both your home jurisdiction and other relevant jurisdictions before you start to trade.
8. Deposits, Withdrawals and Risks
Traders/Members deposit and/or withdraw funds directly only through BullishFx accounts and/or local depositor accounts that have collaborated and are provided by BullishFx.
In terms of considering the smoothness and convenience of depositing and/or withdrawing funds for Traders/Members with jurisdictions outside Seychelles, there is one or more local depositors that Trader/Members can choose when depositing and/or withdrawing funds.
Deposits and/or withdrawals recognized by BullishFx are only made through the official BullishFx platform, namely the “Bfx Mobile” application which can be downloaded via the google play store and website at the address www.bullishfx.com.
Profits and losses experienced by Traders/Members after making deposits and/or withdrawals of funds caused by fluctuations in currency exchange rates, where there is a need to convert currency in accordance with Trader/Member’s jurisdiction to United States dollars, or vice versa, will be the sole responsibility of the Trader/Member.
Profits and losses experienced by Traders/Members after depositing and/or withdrawing funds caused by disruptions to the internet network, disruptions to the transaction system for depositing and/or withdrawing funds (whether done automatically or manually), are the sole responsibility of the Trader/Member.
Profits and losses suffered by the Trader/Member after making a deposit and/or withdrawal of funds caused by the poor local performance of the depositor, will be the sole responsibility of the Trader/Member.
Although BullishFx has cooperated and appointed local depositors as a means to improve deposit and/or withdrawal services, BullishFx cannot guarantee the quality of service by local depositors. Traders/Members are asked to understand and recognize the character of the local depositor’s service.
Traders/Members have full rights not to use the services of local depositors in making deposits and/or withdrawals of funds and can choose to deposit and/or withdraw funds directly to BullishFx.
9. Trading Facilities
OTC business is not traded on a regulated market and therefore does not require open-outcry, Even though quotations or prices are afforded by many computer-based component systems, the quotations and prices may vary due to market liquidity.
Many electronic trading facilities are supported by computer-based component systems for the order-routing, execution or matching of trades.
With all these facilities and systems, they are vulnerable to temporary disruption or failure. Your ability to recover certain losses may be subject to limits on liability imposed by the system provider, the market, the bank and / or financial institutions.
The limits may vary, BullishFx offers CFD trading on stocks, indices, commodities, foreign exchange, Crypto currencies and products on the futures market, not trading the underlying instrument itself.
Therefore, CFD Trading with BullishFx does not entitle the Trader / Member to dividends, transmit, or possibly certain other characteristics in terms of buying or selling the underlying instrument.
Furthermore, since trading CFDs and Foreign Exchange with BullishFx is traded on an OTC basis it is not conducted on any futures exchange or exchange and is not subject to the rules of any futures exchange or stock exchange.
10. Electronic trading
Trading on an electronic trading system may differ not only from trading in the interbank market but also from trading on other electronic trading systems.
If you undertake transactions on an electronic trading system, you will face the risks associated with the system, including hardware and software failures. As a result of a system failure, your order may not be executed according to your instructions or not be executed at all.
11. Risk Warning
- The email and mobile phone number you used when registering will be a media for receiving one time password (OTP), recovering BullishFx account passwords, MT4 accounts and others related to your financial transactions at BullishFx. Risks arising from negligence in maintaining the security of your email and cellular phone are not our responsibility.
- Trading the financial markets carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, trading the financial markets may not be suitable for all peoples because you may lose all of your invested capital. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved taking into account your trade objectives and level of experience. Seek independent advice if necessary. The law and regulation of trading the financial market for each country may different, If there is a dispute, the Parties agree to use the law and regulation in Seychelles to resolve the dispute.
- We strongly recommend that you do not allow your MT4 Account to be traded by other parties, including Marketers or Affiliates of BullishFx.
- Along with the development of technology and information that can cause reduction in Performance and Security on the BullishFx Transaction System and Platform, if you are indicated or proven to cooperate with our Marketers, Agents, Affiliates in making transactions by utilizing these weaknesses, then all transactions that have been made can be canceled.
- If you are indicated or proven to influence our Marketers, Agents, Affiliates to assist you in making Transactions for both yourself and the group with the lure of giving gifts or promising to share profits with our Marketers, Agents, Affiliates, all transactions that have been made can be canceled and you will bear any losses incurred from the cancellation action.
1. Internet and System failures :
Since BullishFx does not control signal power, its reception or routing via Internet, configuration of your equipment or reliability of its connection, we can not be responsible for communication failures, distortions, delays, when you are trading on-line (via Internet).
In addition, losses or foregoing profits in Trader / Member’s account are the responsibility of Trader / Members, not BullishFx, even if software, hardware, or other system failures or errors contributed to the loss or gain of the past.
2. Market risk and trade on-line :
Currency trading involves risks that are not suitable for everyone. See the Trader/Member Agreement in the section explaining this risk.
Trading on-line, no matter as comfortable or efficient as any, does not necessarily reduce risks associated with currency trading.
3. Password protection :
The Trader / Member is obligated to keep passwords secret and ensure that third parties do not obtain access to the trading facilities.
Trader/Member declares that it will be responsible to BullishFx for any trades made even if the use of trading facilities is done by someone else.
4. Quoting errors :
In the event of a quote error, automatic price acceptance error, or an incorrect quote, such as but not limited to a large error quote number, arbitration will be carried out and BullishFx’s decision will be final and will be followed by the Trader/Member.
BullishFx reserves the right to make necessary corrections or adjustments on the account involved.
Any dispute arising from such quoting errors will be resolved on the basis of fair market value of a currency or CFD at the time such an error occurred.
C. ACCOUNT LETTER
Oval Inc is a registered company in the Seychelles.
This is a legal contract between BullishFx (“BullishFx”), its successors and assigns, and the parties to and executing this agreement.
In connection with opening a trading account for the purpose of speculating or hedging and/or buying and/or selling Contracts For Difference (hereinafter referred to as CFD), Futures Contracts, Indices, foreign exchange, Crypto currencies and/or stocks through the OTC market (hereinafter referred to as OTC) ) with BullishFx, the Customer (hereinafter referred to as Trader/Member) acknowledges that the Trader/Member has been informed and understands the following factors regarding trading on leveraged OTC, in addition to those stated in the following Risk Disclosure Statement and Bankruptcy Statement (Bankruptcy Statement) which have been provided to Traders/Members.
- OTC is not traded on a regulated exchange. There is no guarantee as to the credibility of the counterparty with respect to your currency trading positions. Every effort has been made to deal with reputable credit banks / clearing houses. Also, there may be certain cases where trading liquidity decreases and causes trading of certain currencies to stop, thereby preventing the liquidation of your profitable positions or which could result in large financial losses for you.
- Trading on OTC is only suitable for professional institutions or Traders/Members who are financially able to withstand losses and can match the value of the margin or deposit. OTC accounts are not recommended for regular Traders/Members or those who do not have sufficient experience.
- Market recommendations from BullishFx are based solely on the assessment of BullishFx Analysts. These market recommendations may or may not be consistent with the market position or expectations of BullishFx Analysts, affiliates. BullishFx’s market recommendations are based on reliable information, but BullishFx cannot and does not guarantee its accuracy or completeness or represent that following such recommendations will eliminate the risks inherent in currency trading. Any market recommendation, or information provided by BullishFx does not necessarily constitute an offer to buy or sell, or a solicitation to buy or sell from an OTC transaction.
- Trader/Member understands that BullishFx does not allow Affiliates, Account Executives and/or Marketing Members to exercise discretion or manage Trader/Member’s OTC trading accounts, or hold power over OTC trading accounts. If the trading account is not traded by the Trader / Member authority, the BullishFx Trader / Member must immediately notify the Compliance Officer this can only be done through the Support Ticket Menu facility on the Bfx Mobile application, website and or email provided.
- The margin policy and/or the policy of the bank/clearing house where the trade is executed may require you to make an additional amount of funds (Top up Margin) to meet your margin requirements in order to maintain your trading position. You are required to immediately meet the margin requirements. Failure to meet margin requirements may result in the liquidation of all open trading positions with resulting losses. All previously placed position orders will also be rejected and/or cancelled.
- Trader/Member understands that Trader/Member must carefully review reports regarding online trading or daily reports provided to Trader/Member by BullishFx based on Trader/Member’s instructions. In accordance with the Trader/Member Agreement, all trade reports or transactions will be deemed final within twenty-four (24) hours from receipt of the report, unless the Trader/Member submits a written objection to this report within 24 hours to BullishFx’s executive officer.
- Trader / Members have read, understood Trader / Members rights obligations based on the following Trader / Member Agreement, agrees and acknowledges that the following Trader / Member Agreement will control the Trader / Member’s relationship with BullishFx. Trader / Member agrees that Trader / Member is fully responsible for making all final decisions for transactions effected for Trader / Member’s account. Trader / Member has considered the factors mentioned above, in view of the current Trader / Members and financial resources that have been anticipated, Trader / Member is willing and able to bear a substantial financial risk in OTC trading.
D. Trader / Member AGREEMENT
At its discretion, BullishFx agrees to provide one or more trading accounts to the undersigned Trader/Member (“Trader/Member”) and provide services to the Trader/Member in connection with the buying and selling of CFDs, futures, indices, foreign exchange, Crypto currencies and/or stocks via the OTC Market, which can be bought or sold via BullishFx’s trading platform, and Trader/Member agrees as follows:
1. AUTHORIZATION TO TRADE
BullishFx is authorized to buy and sell OTC products in accordance with Trader / Member instructions, either verbal, written or computer / online.
2. GOVERNMENTAL, COUNTERPARTY INSTITUTION AND INTERBANKING SYSTEM RULES
All transactions under this Agreement shall be subject to the constitution, by-laws, rules, regulations, customs, usage, rules and interpretations of the counterparty institution or other interbank market and clearing organization, if any, in which this is done for all legal and regulations.
If any further legislation will apply any rule or regulation or later be adopted by any governmental authority or contract market or clearing organization which shall be binding BullishFx and will affect in any manner or be inconsistent with the provisions of Agreement, the provisions of this Agreement shall be deemed modified or superseded, as the case may be with the provisions of applicable law, the rule or regulation, all other provisions of this Agreement and the provisions should continue to apply fully modified.
Trader / Member acknowledges that all transactions under this Agreement are subject to the regulatory requirements and Trader / Member thus will not be given legal or contractual rights that are independent of such requirements.
3. MARGINS AND DEPOSIT REQUIREMENTS
Traders/Members must provide and maintain a certain amount of margin and/or in the form required by BullishFx.
The margin requirements may be greater or less than the margin required by the liquidation provider partner bank, BullishFx may change the margin requirement at any time to match the margin requirements requested by the liquidity provider.
Trader/Member agrees to deposit additional margin via Local Depositors available when and as requested by BullishFx.
The failure of the Trader/Member to deposit the additional margin causes BullishFx to obtain its right to liquidate all trading positions/transactions of the Trader/Member.
BullishFx reserves the right to limit the amount and / or total open positions that Trader / Member may obtain or maintain in BullishFx, and increase margin requirements with or without notice, either before an event occurs or after event occurs.
BullishFx will endeavor to execute all orders in accordance with Trader/Member’s instructions made through BullishFx’s trading platform.
BullishFx reserves the right to refuse to accept any orders and for that BullishFx is not responsible for any loss, damage and/or loss caused directly or indirectly by such events and actions. BullishFx is not responsible for any omissions beyond BullishFx’s control including from delays or inaccuracies in the transmission of orders and/or information due to interruption or failure of transmission or communication facilities.
4. AUTOMATIC ROLLOVER AND VOLUNTARY LIQUIDATION OF ACCOUNT POSITIONS
Unless otherwise specified in other documents, or in the Trading Rules which will apply from time to time, Trader/Member declares to give instructions through this agreement to BullishFx to liquidate open positions in their respective trading Accounts for “Spot FOREX Positions” traded under a contract system. and has an expiration date. Open positions can be automatically extended from the next working day in a row, subject to at any time as BullishFx’s sole and absolute discretion to liquidate such transaction positions in accordance with the stipulated provisions, including but not limited to the provisions of Article 6 of the Government Regulation in below.
That Spot FOREX Positions in trading Accounts can be settled or liquidated at any time online by entering the Spot FOREX market with the aim of offsetting and making or receiving a certain amount of foreign currency delivery.
In order to liquidate open FOREX Spot Positions in trading Accounts carried out using cash and direct methods by selling or buying, as applicable contracts that offset the same and or opposite Spot FOREX Positions, written instructions must be given to BullishFx by the Trader/Member to complete this mode .
5. GUARANTEES AND LOAN AGREEMENTS
All funds, securities, currencies and other property of Trader/Member used as collateral to BullishFx or affiliated with BullishFx, including depository, must be held by BullishFx as collateral and subject to general liens and set-off rights to comply the obligations of the Trader/Member to BullishFx.
In its discretion, BullishFx may at any time and from time to time, without any obligation of notification to Trader/Member, BullishFx may use and/or transfer part or all of Trader/Member’s funds, securities or other property to other parties.
Trader/Member hereby also grants BullishFx the right to back guarantee, invest or lend, either separately or with other Trader/Member’s property, to himself as a broker or to another person.
This authorization applies to all Trader/Member’s accounts opened via the BullishFx platform and will remain in full force until all accounts are fully paid by Trader/Member or a notice of revocation is sent by BullishFx from its head office.
6. LIQUIDATION OF TRADE ACCOUNTS AND PAYMENT OF DEFICIT BALANCES
In the case of Liquidation of Trading Accounts and Balance of Payments follow the requirements below:
a. Judicial declaration of incompetence of Trader / Member.
b. Filing of the petition in bankruptcy, or request the appointment of a receiver, or the institution of any insolvency or similar process by or against Trader / Member.
c. Insufficient Margin, or as per BullishFx stipulations, that any guarantee held to protect one or more trading positions in a Trader/Member’s account is insufficient, regardless of the current market price, but based on the market price at the time Margin was declared insufficient to secure the account.
d. Failure of Trader / Members to provide BullishFx requested information in accordance with this agreement.
e. In other circumstances and/or developments that BullishFx deems appropriate for its protection and discretion, BullishFx may take one or more, or part of the following actions:
– Requesting Trader/Member to fulfill any obligations to BullishFx, either directly or by guarantee of ownership outside any funds or property held or controlled by Trader/Member.
– Sell or buy part or all of Currency contracts, securities owned or carried by Trader/Member of other companies.
– Cancel any or all orders or contracts, or other commitments made on behalf of Trader/Member.
Any of the above actions may be taken by BullishFx without any request for additional margin or margin, without prior notice of sale or purchase or other notice to Trader/Member, Trader/Member’s personal representative, heirs, executor of trade orders, administrator, trustee or beneficiary and regardless of whether the property is jointly owned with others.
In liquidating positions in Trader/Member’s trading accounts, LONG or SHORT, BullishFx may do, in its sole discretion, compensate in the same settlement or may execute new LONG or SHORT positions to establish possible spreads or straddles in BullishFx’s sole decision.
Trader/Member shall always be responsible for payment of Trader/Member’s deficit balance at BullishFx’s request and in all cases, Trader/Member shall be responsible for any remaining shortfall in Trader/Member’s account in case of liquidation in whole or in part by BullishFx y or by Trader/ Member.
If the proceeds realized under this authorization are insufficient for payment of all obligations of the Trader/Member, the Trader/Member must immediately pay the shortfall and all outstanding obligations together with three (3) percent interest, all collection fees, including attorney fees, witness fees, travel expenses, and the like.
7. COMMISSIONS ACCOUNT AND OTHER CHARGES
Trader/Member must pay all brokerage fees, transaction fees, commissions and special service fees and regulatory fees as BullishFx may from time to time charge the account, and all other fees (including without limitation, overnight fees for transactions, mark-ups and trade mark-downs, order cancellation fees, transfer fees between accounts and other fees) and BullishFx fees (including without limitation, fees charged by banks, clearing houses, contract markets or their own regulatory or regulatory organizations) for the services provided by BullishFx below.
BullishFx may change the commission schedule at any time, as well as increase or decrease fees and/or wages payable under this agreement without notice. Trader/Member agrees to be responsible to BullishFx for the entire amount owed by Trader/Member to BullishFx below, including but not limited to, the amount of margin required but not deposited on time in the Account, the Trader/Member will be charged interest of 3 (three) percent.
All fees payable to BullishFx are paid by Trader/Member at BullishFx’s sole and absolute discretion or terms and such fees will be collected from Trader/Member’s trading account. In the event that the Equity and/or credit in the trading account is insufficient to cover expenses, the unpaid fees will automatically become a debit balance in the trading account.
8. STATEMENT AND CONFIRMATION
The order confirmation of transaction reports and account statements will be deemed true and conclusive and binding for Trader/Member if they do not submit a written objection within one (1) day after being sent to Trader/Member via email. Margin requests are considered final and binding unless rejected by Trader/Member immediately via email or Trader/Member can ignore it and accept the consequences that may arise.
Reports, statements, notices and other written communications from BullishFx will only be sent and addressed to Traders/Members through the facilities, Notifications, Support Tickets on the Bfx Mobile application menu, and/or website, and or the registered Trader/Member’s email address.
Meanwhile, Traders/Members can communicate with BullishFx through the Support Ticket menu on the Bfx Mobile application, and/or the website, and/or send an email to the email address provided, and/or contact the BullishFx hotline at +85263388703.
10. BULLISHFX RESPONSIBILITIES
BullishFx will not be responsible for any delay in order delivery due to interruption or failure of transmission or communication facilities, power outages or other reasons beyond BullishFx’s control and anticipation.
BullishFx will only be responsible for its actions which are directly caused by negligence, willful misconduct or fraud on the part of BullishFx which can be proven by the Trader/Member.
BullishFx is not responsible for any losses arising from the failure of any agent, affiliate or other party employed by BullishFx under this agreement. Because OTC is not a publicly traded exchange market, BullishFx’s bid or quote price may or may not be the same as the price of liquidity providers in other OTC markets.
11. CURRENCY FLUCTUATION RISK
If a Trader/Member switches his trades in the following currencies:
A. Any gain or loss arising as a result of exchange rate fluctuations affecting the said currency shall be the sole responsibility and risk of the Trader/Member.
B. All initial and subsequent deposits for margin purposes must be made in United States dollars, or the amount that BullishFx allows to set in its sole discretion and at the option of the Trader/Member at the time of registration.
C. BullishFx is authorized to convert funds in Trader/Member’s trading account into margin which is then traded by Trader/Member when selecting foreign currency at the exchange rate determined by BullishFx based on the prevailing money market price at that time.
12. RISK ACKNOWLEDGMENT
Trader/Member acknowledges that investing in leveraged transactions and non-leverage transactions is speculative, involves a high level of risk and is only suitable for people who can risk losing their entire margin and/or deposit.
Trader/Member understands that due to the low margin usually imposed in OTC trading and price changes in OTC it can result in significant losses. Trader/Member ensures that Trader/Member is financially willing and able to bear the risk of trading on the OTC market, and taking into account the risk of his trading account being frozen by BullishFx, Trader/Member agrees not to hold BullishFx responsible for any losses incurred due to transactions made under recommendations or trading advice from BullishFx employees, agents, affiliates or representatives.
Trader/Member acknowledges that guaranteed profit or freedom from loss is not possible in trading on the OTC market. Trader/Member acknowledges that Trader/Member is not allowed to receive such guarantee from BullishFx or from representatives, agents, affiliates and or other entities. Traders/Members who have registered and have a trading account with BullishFx will be subject to such warranties or similar representations.
13. TRADING RECOMMENDATIONS
A. Trader/Member acknowledges that (i) any market recommendations and information communicated to Trader/Member by BullishFx or by anyone within the company, does not constitute an offer to sell or a solicitation to buy any contract on the OTC market, (ii) a recommendation and such information, even if it is based on information obtained from sources trusted by BullishFx, and that such information may not be complete and verifiable, and (iii) BullishFx makes no representations, warranties or warranties and is not responsible for the accuracy or completeness of the information or trading recommendations submitted to the Trader/Member.
Trader/Member acknowledges that BullishFx officers, directors, affiliates, shareholders or representatives may have positions or may intend to buy or sell currencies that are the subject of market recommendations provided to Trader/Members, and that the transaction positions of officers, directors, affiliates , shareholders or representatives of BullishFx in the market will not be a recommendation that can influence Traders/Members in determining trading positions.
Trader/Member acknowledges that BullishFx makes no representations regarding the tax implications for any trades or trading contracts entered into by Trader/Member.
B. Trader/Member further acknowledges that if Trader/Member has a trade authority agreement or control over Trader/Member’s trading account which is assigned to a third party (“Trading Agent”), whether on policy or non-policy basis, whether directly related or indirectly with BullishFx, such as employees, affiliates and members of analysts, then BullishFx will in no way be responsible for such trading authority and/or make any recommendations in connection therewith.
Trader/Member understands that BullishFx does not make any guarantees or representations regarding granting trading authorization to Trading Agents, whether in the form of institutions, or individuals. BullishFx is not responsible for any losses caused by the actions of the Trading Agent appointed by the Trader/Member either directly or indirectly, BullishFx will not support or approve the trading method of the Trading Agent. If the Trader/Member authorizes the Trading Agent to exercise this right through the Trader/Member’s account, the Trader/Member understands that the Trader/Member does so at his own risk.
14. TRADER / MEMBER REPRESENTATIONS AND WARRANTIES
Trader/Member represents and warrants that:
A. Trader/Member who is sane, has a valid identity and has legal competence.
B. No person other than the Trader/Member has or will have an interest in the Trader/Member’s account.
C. Trader/Member hereby warrants that regardless of the conditions or reasons, Trader/Member is suitable for OTC trading who is a sophisticated institutional and/or institutional participant.
D. The current Trader/Member is not an employee of the stock exchange, is not a company that owns a market where the company owns the majority of capital or shares, is not a member of the stock exchange and/or a company listed on the stock exchange, is not any bank, is not a trust or insurance company, and in the case of In this case, if the Trader/Member in the future has become part of what has been described in this point, the Trader/Member will immediately notify BullishFx in writing and send it to the correspondence address that has been agreed in this agreement regarding the work.
E. All information provided in the information section of this booklet is true and complete as of the date of this agreement and Trader/Member will promptly notify BullishFx of any changes to such information.
15. DISCLOSURE OF FINANCIAL INFORMATION
Trader/Member represents and warrants that no request for financial information is disclosed to BullishFx in this document, Trader/Member is independently requested to accurately represent Trader/Member’s current financial condition. Trader/Member represents and warrants that Trader/Member has carefully considered and determined the appropriateness of the portion of Trader/Member’s total assets which is considered high risk Capital by Trader/Member.
Trader/Member acknowledges that Risk Capital is the risk of capital and or the amount of money that Trader/Member is willing to take the risk and if it is lost or lost during a transaction it will not change the Trader/Member’s lifestyle in any way.
Trader/Member agrees to immediately stop trading if Trader/Member experiences a change in financial condition so as to reduce Trader/Member’s Net Worth, Liquid Assets and/or Risk Capital.
16. NO GUARANTEES
Trader/Member acknowledges and warrants that Trader/Member does not have separate agreements with Trading Agents, employees, agents or affiliates regarding Trader/Member trading accounts at BullishFx, including agreements to guarantee profits or limit losses on Trader/Member accounts.
Trader/Member understands that Trader/Member must authorize every transaction prior to execution and every disputed transaction must be brought to BullishFx Compliance Officer.
Trader/Member agrees to indemnify and hold BullishFx from any harm and liability arising from failure to notify BullishFx Compliance Officer of any of the above-mentioned events.
All notifications will be made through the standards, procedures and correspondence addresses set out in this agreement.
17. NO WAIVER OR AMENDMENT
Nothing in this Agreement may be waived or modified unless such waiver or amendment is made in writing and transmitted to Trader/Member through Trader/Member’s correspondence address contained in this agreement.
No verbal agreement or instruction directly contrary to this agreement is recognized or enforceable. This instrument and its appendices embodies the entire agreement of the parties, superseding any and all prior written and oral agreements and no other terms, conditions or obligations other than those set forth herein.
18. GOVERNING LAW AND JURISDICTION
This Agreement, as well as the rights and obligations of the parties herein, shall in all respects be governed by and construed and enforced in the Seychelles laws governing such matters.
English is the language used as a reference in terms of interpreting all the contents of this agreement and if there is a translation of the contents of the agreement, the title on the menu carried out by the Bfx Mobile application or on the BullishFx website into the language used in the country where the Trader/Member is located is solely is a service provided by BullishFx.
19. BINDING EFFECT
This Agreement, including all authorizations will apply to the benefit of BullishFx and its successors or representatives and will be binding on Trader/Members and/or owners, executives, supervisors, administrators, legal representatives, successors and assigns of Trader/Members.
Trader/Member hereby ratifies all transactions with BullishFx made prior to the date of this Agreement, and agrees that Trader/Member’s rights and obligations in connection with it will be governed by the terms of this Agreement.
This Agreement will continue to be in effect until terminated at any time and may be terminated by the Trader/Member when the Trader/Member has no open Currency transaction positions and there is no obligation or debt to BullishFx and or ;
Upon receipt of written notice of termination of this Agreement from BullishFx which will be sent via the Bfx Mobile application, email and/or mail box in the Trader/Member’s trading account.
That the termination will not affect the previous transactions that have been carried out by the Trader/Member and will not relieve either party of the obligations stipulated in this Agreement, and will also not relieve the Trader/Member from all obligations arising from the balance deficit.
Trader/Member agrees to indemnify and hold BullishFx, its affiliates, employees, agents, successors and assigns from and against any harm and all liabilities, losses, damages, costs and expenses, including attorneys’ fees, incurred by BullishFx arising out of Traders/Members who fail to fulfill and timely carry out the contents of this Agreement, and/or if make any of the statements and warranties in this agreement inaccurately and correctly.
Trader/Member also agrees to promptly pay to BullishFx for all damages, costs and expenses, including attorney’s fees, incurred by BullishFx to enforce any of the terms of this Agreement and any other agreement between BullishFx and Trader/Member.
22. TERMS AND TITLE
The term “BullishFx” shall be deemed to be BullishFx or an OTC platform provider company, the term “Trader/Member” means the party or parties who will bind themselves to BullishFx through this agreement and execute the Agreement, and the term “Agreement” includes all other agreements and authorizations made by a Trader/Member in connection with the maintenance of a Trader/Member’s account with BullishFx.
Clause headings in this Agreement are inserted for reference and convenience only, and shall not be deemed to limit or influence the application of the meaning of any provision.
Trader / Member agrees and acknowledges that all conversations regarding Trader / Member account(s) between Trader / Member and BullishFx personnel may be electronically recorded with or without the use of an automatic tone warning device.
Trader / Member further agrees to the use of such recordings and transcripts thereof as evidence by either party in connection with any dispute or proceeding that may arise involving Trader / Member or BullishFx.
Trader / Member understands that BullishFx destroys such recordings at regular intervals in accordance with BullishFx established business procedures and Trader / Member hereby consents to such destruction.
24. CLOSING STATEMENT
I certify that I have fulfilled the requirements of age and all other requirements necessary to enter into an agreement and assume responsibility under the laws in force in Seychelles.