It is imperative that this document is read carefully. Here are the details and the services which We will provide and it sets out the rights and obligations that apply between yourselves and the Hybrid Stock Exchange Corporation. If there is anything which you do not understand in this document or with which you do not agree, do not utilise our services.
We wish to inform you that contracts for differences are complex derivative products and are not suitable for all investors. When trading contracts for differences, you should not use money that you cannot afford to lose. You should only consider trading contracts for differences if you have extensive experience of trading in volatile exchanges, fully understand how contracts for differences work (including all associated risks and costs), are aware that the utilisation of margin or leverage creates greater risks, understand that there are situations where we will be able to close out your transactions without giving you notice and have sufficient time to manage your transactions on an active basis. More detailed risk warnings are set out below.
We are under no obligation to assess the suitability of these products in relation to your particular circumstances. As a client, you are required to read and understand the General Risk Disclosure and all Disclosures on www.hybse.com which also form part of these Terms and Conditions. We provide an execution-only service and do not provide investment advice, nor do we in any way guarantee or forecast any potential profit or freedom from loss.
These Terms and Conditions are made between you and the Hybrid Stock Exchange Corporation or the Hybrid Group (as the case may be), each also trading under the name "Hybrid Stock Exchange." Each such entity shall be referred to herein as "Us", "We", "Our"or "Hybrid Stock Exchange". The Hybrid Stock Exchange Corporation is a company authorized and regulated by the Vanuatu Financial Services Commission and is a member of the Hybrid Group, which is a company resident in South Africa with a registered number 2015/105224/07 whose registered office and principal place of business is at Ground Floor, Galaxy House, River Office Park, 42 Homestead Road, Edenburg, Rivonia, Johannesburg.
If you have not funded your account and you are trading with Hybrid Stock Exchange credits, you will be a customer of the Hybrid Group and accordingly you (and any profits gained from any such trading activity) shall not benefit from the protections available to clients of regulated entities including, but not limited to all the local rules, regulations and guidance, including those rules relating to clients funds, best execution policy and complaints. These are the entire terms and conditions that apply to the use of this website or applications and any services provided in relation to the websites/applications including, but not limited to the use of Our trading services, data collection and storage practices, downloadable material from Our website, financial information published on Our website/applications (either by Us or by any affiliated party), electronic content, real time information about the exchange rate or price, as applicable for some currencies, indices, commodities and securities and tools for executing transactions in Foreign Exchange and the other Exchanges available on Our websites/applications on the internet, by telephone or fax and any other features, content or services that We may add in the future (collectively the “Services” or “services”). Use of the services is subject to these Terms and Conditions. If you have any objections to the Terms and Conditions, do not utilize Our services. Your access to and use of the services constitutes your acceptance of the Terms and Conditions and any other legal notices and statements contained in this website. Your use of the services is governed by the version of the Terms and Conditions in effect on the date each service is used by you. You are responsible for checking this page on Our website/applications periodically in order to review the current version of the Terms and Conditions. Please feel free to contact Our customer support team at http://hybse.com/page/supportfor any clarifications before you use or continue to use any of Our Services.
If you have registered with Hybrid Stock Exchange in your country of origin, these Terms and Conditions will apply to you and the terms and conditions of your country apply to you. If you have registered with another of Our Group companies, the terms and conditions of that company will apply.
IMPORTANT NOTE – HYBRID STOCK EXCHANGE DOES NOT ACCEPT ANY USERS IN THE USA (RESIDENTS AND CITIZENS), JAPAN, CANADA (INCLUDING ONTARIO & QUEBEC), DEMOCRATIC PEOPLE'S REPUBLIC OF KOREA (DPRK), IRAN, ALGERIA, OR SYRIA.
IF YOU ARE TRAVELLING TO ANY OF THESE COUNTRIES, YOU ACKNOWLEDGE THAT OUR SERVICES MAY BE UNAVAILABLE AND/OR BLOCKED IN SUCH COUNTRIES.
HYBRID STOCK EXCHANGE RESERVES THE RIGHT TO IMPOSE ADDITIONAL REQUIREMENTS OR CONDITIONS BEFORE ACCEPTING USERS RESIDING IN OR FROM SPECIFIC COUNTRIES IN ITS SOLE DISCRETION.
You hereby agree to the use of electronic communication in order to enter into contracts, place orders and other records and to the electronic delivery of notices, policies and records of transactions initiated or completed through Our websites and platforms. Furthermore, you hereby waive any rights or requirements under any laws or regulations in any jurisdiction which require an original (non-electronic) signature or delivery or retention of non-electronic records, to the extent permitted under applicable mandatory law.
You acknowledge and agree that by clicking the “I agree” button or similar buttons or links as may be designated by the Hybrid Stock Exchange to show your approval of any foregoing texts, the use of the services (as defined below), you are entering into a legally binding contract.
In accordance to that, these Terms and Conditions describe, in full detail, the terms and conditions which you must accept, without restrictions or objections, before using Our services. Before you use Our services and before you become a customer of the Hybrid Stock Exchange, you must fully understand and agree to all the terms and conditions expressly explained and/or implied hereto by reference. Notwithstanding, anything to the contrary, by continuing to use Our services, you are implying that you have read these Terms and Conditions and have unconditionally accepted without reservation the Terms and Conditions in their entirety.
These Terms and Conditions were published on and last updated in July, 2016.
1. SERVICES, REGISTRATION & ACCOUNTS
1.1 Scope of Services
It is important to know that these Terms and Conditions cover the entire scope of services provided by the Hybrid Stock Exchange including, but not limited to the use of Our website, the use of Our trading services, data collection and storage practices, downloadable material from Our website, financial information published on Our website (either by Us or by any affiliated party), electronic content, real time information about the exchange rate of some currencies, tools for executing transactions in the Foreign Exchange on the internet, by phone or fax and any other features, content or services that We may add in the future. These Terms and Conditions cover any form of communication between Us and you including email, telephone, fax and any other means of communication We agree upon.
Our services are offered in relation to transactions in contracts for differences where the underlying assets include foreign currency, shares, indices, commodities and virtual assets. We reserve the right to modify, suspend or discontinue, temporarily or permanently, all or any part of our services with or without notice. You agree that We will not be liable to you or to any third party (for whom you may be acting) for any modification, suspension or discontinuance of all or any part of Our services.
Please note that when you register with Us, you will choose a username and password that will personally identify you each time you log on to Our system. Your username and password should be kept confidential at all times. It is your sole and absolute responsibility to safeguard this information. If the security of the above user name and password is breached or if you suspect that they are being wrongfully used – please contact Us immediately at www.hybse.com. If We believe that there is likely to be a breach of security, We may require you to change your account credentials or suspend your access to the trading platform. We reserve the right to edit, amend or issue you with new account credentials or require a change of your account credentials at any time by giving notice to you.
In the beginning, you shall be treated as a "Retail Client" unless theHybrid Stock Exchange shall classify or reclassify you as a "Professional Client" or an "Eligible Counterparty", depending on the information that you shall provide when completing the registration process or thereafter. If you desire to be reclassified or receive further information, you can find more information on www.hybse.com.
For Us, it is a pre-condition that Our services are only used and contracts are only formed by those who are permitted to enter legally binding agreements. Therefore, if there is any reason why you would not be able to enter a legally binding agreement with Us, for whatever reason - do not use Our services. Such reasons could include, but are not limited to persons that have not yet reached a legal age of consent in a relevant jurisdiction. Due to Our internal policies, We will only provide the services to users with sufficient experience, knowledge and understanding of financial investments in securities, ETC's or other similar products, who fully understand the associated risks. Notwithstanding any of the above, the above mentioned eligibility restrictions shall only apply in cases where the services involve the use of real money. The above restrictions shall not apply to use of any demonstration account not associated with real money transactions. Trading activity with the Hybrid Stock Exchange might be illegal in some jurisdictions and We encourage but also advise users to check local regulations before deciding to use the services. We reserve the right to asses or reassess your relevant knowledge and experience to use Our services at any time.
For avoidance of doubt, the ability to access Our services 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. Without limiting the foregoing, by using Our services you acknowledge and understand that laws regarding financial instruments 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 Our services. Our websites and/or any other online material do not constitute, and may not be used for the purposes of, an offer or solicitation to anyone in any jurisdiction in which such offers or solicitations are not authorized, or to any person to whom it is unlawful to make such an offer or solicitation.
1.4.1.The first step is the identification. We are required by law and/or any applicable regulation (including, but not limited to the Foreign Account Tax Compliance Act) to confirm and verify the identity of each person who registers on Our system and opens an account with Us. Therefore, you will be prompted to provide Us with information when you register with Us, including: (1) First Name and Surname, (2) complete address, (3) date of birth, (4) contact numbers and any further personal information that We may request, such as a copy of your passport or other identifying documents or information. (5) The countries of which you are a tax resident, confirmation onwhether you are a USA citizen, have any relation with the USA or whether your place of birth is in the USA. You shall notify theHybrid Stock Exchange in writing within 10 days of any material change in the validity of correctness of the information previously provided to Us.
1.4.2. The second step is Financial Checks. From time to time, you may be requested to provide Us with certain documents to verify the details of the credit card, electronic wallet and/or other means of payment used by you to deposit monies intoyour account, or other details provided by you. Subject to such verification, you may either be permitted or denied to deposit money or continue theuse ofany of Our services.
1.4.3. We are obliged to warn you that if you do not provide the information within the required time frame or provide inaccurate, incomplete or otherwise misleading information, We reserve the right to limit, block access to the services, terminate the user account and/or assign the users account to one of theHybrid Stock Exchange’s affiliates.
1.4.4.Upon the death or incapacity of an account owner, if the legal heirs or representatives of such account ownersseek to withdraw the remaining balance in the account, should there be any, such legal heirs must present official legal documents from the applicable authorities in the relevant jurisdiction to Our satisfaction and We, in Our sole discretion and upon checking such documents, shall make the decision whether or not to allow such awithdrawal.
1.5. Language of Terms and Conditions
The Hybrid Stock Exchange Corporation may elect to provide you with these Terms and Conditions and/or any other documentation, information and communications in various languages. By accepting these Terms and Conditions (in any language), you acknowledge and accept that:Hybrid Stock Exchange's official language is English; and in the event of any discrepancy or inconsistency between any communication in English and the same in another language, the communication in English shall exclusively prevail.
1.6. Means of communication
The Hybrid Stock Exchange reserves the right to communicate with you by email, electronic chats, online discussions, telephone, fax, post, newsletters issued by Us and/or any other meansof communications, whether such communication is personally addressed to you or generally addressed to all Our users. By accepting these Terms and Conditions, you acknowledge and confirm that all such means of communications are deemed acceptable and any such communication provided shall be deemed to have been received by you. You further hereby consent to your account information and trade confirmations being available on the internet instead of having such information delivered to you by mail or email. You will be able to access account information through the trading platform using your account credentials. We will display all of your account activity and you will be able to report undesired activities. Posting of account information on your online account will be deemed delivery of confirmation of account statements.
1.7. Your representative(s)
You must know that, should you grant trading authority or control over your account to a third party whether on a discretionary or non-discretionary basis, you do so at your own risk. Neither theHybrid Stock Exchange nor any of its affiliates or agents shall in any way be responsible for reviewing your choice of such athird party or for making any recommendations with respect thereto. TheHybrid Stock Exchange does not make any representations or warranties concerning such third partiesand shall not be responsible for any loss to you which results from the actions of such third paries. The Hybrid Stock Exchange reserves the right to reject the appointment of any representative or attorney authorized to act on your account and may elect to dismiss and/or reject any transactions performed by such persons.
1.8. Your Representations and Warranties
1.8.1. Every time you use Our services, you will be deemed to represent and warrant:
22.214.171.124. That you are at least 18 years old, or the age of legal consent for engaging in financial investment activities under the laws of any jurisdiction that applies to you.
126.96.36.199. That you are not a politically exposed person and do not have any relationship (e.g., relative, associate etc.) with a person who holds or, during the last 12 months, held any public position. If the above statement is untrue or inaccurate with respect to you, please inform Our customer support team at www.hybse.comand We shall inform you if and how you may continue to use the services.
188.8.131.52. That you are of sound mind and are capable of taking responsibility for your own actions.
184.108.40.206. That all the details that you have submitted to Us or any details given to Us when opening an account and/or making a deposit are accurate, up-to-date, complete and not misleading and match the name on the payment card and/or payment accounts in which you intend to deposit or receive monies from your account.
220.127.116.11. That you will notify Us immediately of any changes to any information you have provided to Us in connection with these Terms and Conditions.
18.104.22.168. That you understand that financial regulations, financial codes, financial ethics and contractual requirements vary worldwide and it is your responsibility to make sure that you comply with any and all local regulations, directives, restrictions and laws in your local place of residence before using the services. You have verified and determined that your use of the services does not violate any such laws or regulations of any jurisdiction that applies to you.
22.214.171.124. That you are responsible for any regulatory reporting requirements in relation to the securities. For example, disclosure of net short positions where the underlying securities are subject to short selling restrictions.
126.96.36.199. That all the money that you use and invest through the services does not originate in any way from drug trafficking, abduction, terrorist activity or any other criminal activity that is unlawful or could be considered unlawful by any relevant authority.
1.8.2. For the avoidance of doubt, representations and warranties are personal statements or assurances given by you on which We will rely upon when providing the services to you.
1.9. Limited License.
As mentioned above, registration and eligibility requirements and the terms and conditions set forth herein grant you a personal license that is non-transferable, non-exclusive and fully revocable to use Our services (including the use of Our website and any associated downloadable software). You will also be subject to the End User License Agreement of The Hybrid Group, that is associated with downloading any software from Our website herewith and forms a part of these Terms and Conditions.
1.10. Commissions, charges and other costs
1.10.1. When you pay Us the commissions, spreads, charges and other costs set out, you will have all the information on Our website at www.hybse.com. We will display all current typical commissions, charges and other costs on Our websites. Certain instruments are offered on the basis of a variable spread. The Hybrid Stock Exchange can impose, at any given time, a spread Fee which can be variable and is not constant in value. The spread will vary according to market conditions and liquidity changes. Due to the volatile nature of these currencies, a typical spread cannot be listed on the Fees page with respect to such instruments.
1.10.2. You acknowledge that the prices, spreads, roll-over fees/credits charged may vary and there may be instances when market conditions cause spreads to widen beyond the typical spreads displayed on Our websites. You further acknowledge that Our commissions, spreads, charges and other costs presented to you when opening a trade and/or in Our website/platforms are not guaranteed by Us and represent an estimation only based on market conditions at the time that the trade has been opened.
1.10.3. Also, We may vary commissions, charges and other costs from time to time and such changes in commissions, charges and other costs are displayed on Our websites/platforms.
1.10.4. Subject to complying with the local rules and any other applicable regulations of any regulatory authority or investment exchange or other exchange, We will not be under any obligation to disclose to, or account to you for any profit, benefit, commission or other remuneration made or received by Us by reason of any transaction or investment.
1.10.5. You acknowledge and agree that We may, where applicable, make payments to third parties that help initiate, conclude or maintain a business relationship between us (or Our affiliates) and Our clients. These payments may include rebates, commissions, widened spreads and profit sharing.
1.10.6. You acknowledge that all amounts due to Us shall be deducted from your account balance.
1.11. Quotes & Transactions
1.11.1. In relevant situations, We may provide quotes via the trading platform or over the telephone. All quotes are indicative only, are current as at the time provided or displayed, and are provided for information purposes only, but do not constitute an offer by Us to buy or sell any product or instrument at that price. All quotes are subject to volatility and exchange fluctuations.
1.11.2. We may also, in Our absolute discretion, but are under no obligation to, execute your requests and instructions outside of the normal trading hours specified for that particular instrument.
1.11.3. Where relevant, We specify spread for each instrument on Our website. We are entitled to change spreads without prior notice to you.
1.11.4. While We take into account the underlying asset price, you acknowledge that We are under no obligation to ensure that the quotes it provides are within any specific percentage of the underlying asset price. When the underlying exchange is closed, quotes provided by the company will reflect what the company believes to be the current bid and ask price of the relevant underlying asset price at that time. You acknowledge that quotes may be set by Us in Our absolute discretion.
1.11.5. You agree that in the absence of fraud or wilful default, We will not be liable to you for any loss, cost, claim, demand or expense following any Manifest Error or such erroneous quotes. We reserve the right to void from the outset any transaction containing or based on any Manifest Error or a price, or series of prices, which are subsequently determined to be unrepresentative of the actual exchange valuation of an asset/product. For such purposes, a “Manifest Error” means any error that We reasonably believe to be obvious or palpable, including without limitation, offers to execute transactions for exaggerated volumes or at manifestly incorrect exchange price quotes or prices at a clear loss.
1.11.6. Without derogating from Section 1.11.5, if, prior to the acceptance of your offer to open or close a transaction, We become aware that any of the factors set out in Section 1.11.7 have not been met, We reserve the right to reject your offer outright. If We have, nevertheless, already opened or closed a transaction prior to becoming aware that a factor set out in Section 1.11.7 has not been met, We may, acting reasonably, either treat such a transaction as void from the outset or close it at Our then prevailing price. However, We may allow you to open or, as the case may be, close the transaction in which case you will be bound by the opening or closure of such transaction, not withstanding that the factors in Section 1.11.7 were not satisfied.
1.11.7. The factors referred to in Section 1.11.6 include the following: (i) the quote must be obtained via the trading platform or by such other means as We may from time to time notify you; (ii) your offer to open or close the transaction must be given while the quote is still valid; (iii) the quote must not contain a Manifest Error; (iv) a Force Majeure Event must not have occurred as described in Section 1.11.8; (v) when you offer to open any transaction, the opening of the transaction must not result in your exceeding any initial or maintenance margin amount, credit or other limit placed on your dealings; and (vi) any other factor that We, acting reasonably, notify you from time to time.
1.11.8. In Our reasonable opinion, We may determine that a Force Majeure (an act of God) event exists. A Force Majeure event will include, but is not limited to, the following: (i) any act, event or occurrence (including, but not limited to, any strike, riot or civil unrest, act of terrorism, war, industrial action, acts and regulations of any governmental or supra national bodies or authorities) that, in Our opinion, prevents Us from maintaining an orderly exchange in one or more of the securities in respect to which We deal on the trading platform; (ii) the suspension or closure of any exchange or the nationalization, government sequestration, abandonment or failure of any instrument on which We base, or to which We in any way relate, Our quote, or the imposition of limits, special or unusual terms on the trading in any such exchange or on any such event; (iii) the occurrence of an excessive movement in the level of any transaction and/or exchange or Our anticipation (acting reasonably) of the occurrence of such a movement; (iv) any breakdown or failure of transmission, communication or computer facilities, interruption of power supply, or electronic or communications equipment failure; or (v) the failure of any relevant supplier, financial institution intermediate broker, agent or principal of Ours, custodian, sub-custodian, dealer, exchange, clearing house or regulatory or self-regulatory organization, for any reason, to perform its obligations. If We determine that a Force Majeure event exists, We may without notice and at any time, acting reasonably, take one or more of the following steps: (a) alter your dividends requirements; which may result in you being required to provide additional dividends; (b) close all or any of your open transactions at such closing prices as We reasonably believe to be appropriate; (c) suspend or modify the application of all or part of these Terms and Conditions to the extent that the Force Majeure event makes it impossible or impracticable for Us to comply thereto; (d) alter the trading hours for a particular transaction; or (e) void all open transactions in affected instruments. You agree that We will not be held liable in any way, to you or to any other person, in the event of a Force Majeure event, nor for Our actions pursuant to clause 1.11.8, if We decide to take such action. The parties shall be released of all responsibilities for partial or full non-fulfilment, as well as for improper fulfilment of the obligations under these Terms and Conditions, if such non-fulfilment or improper fulfilment was a result of a Force Majeure event, which occurred after the services were terminated.
1.12. Payments and Withdrawals
1.12.1. You need to know that you may deposit money into your trading account at any time. We will only accept a payment method (for example bank account, e-wallets etc.) in your name. Unless otherwise approved by us pursuant to Our internal procedures, third party or anonymous payments may be accepted. If the Hybrid Stock Exchange is not satisfied that you are the sender of the money, it reserves the right to reject the money and return it to the remitter less net of any transfer fees or other charges. You may be required to submit additional documentation as required by Anti-Money Laundering regulations ("AML") and any other similar regulations applicable to Us.
1.12.2. We also reserve the right to impose payment, deposit or withdrawal limits and payment, deposit or withdrawal fees by giving you reasonable advance notices.
1.12.3. If We accept any payments by debit card, credit card or any other payment method that may charge processing fees, We reserve the right to charge you a transfer fee.
1.12.4. We reserve the right to use Our affiliates’ e-wallets and payment processing accounts to process your deposits and withdrawals on Our behalf. Your funds may be aggregate with other clients’ funds within an omnibus sub-account on Our behalf and transferred to Us upon intervals to be determined by Us in Our sole discretion.
1.12.5. If you make a payment to one of Our affiliates' payment processing accounts, the Hybrid Stock Exchange shall immediately credit your trading account with the amount of such payment if We are satisfied that you are the sender of the money. Credit in your trading account will be in currency of Euro.
1.12.6.If We are not satisfied that you are the sender of the funds, We reserve the right to reject the funds and return them to the remitter less net of any transfer fees or other charges.
1.12.7. We also reserve the right, without prior notice to you, to make any currency conversions which We consider necessary or desirable for the purposes of complying with Our obligations or exercising Our rights under these Terms and Conditions or any transaction. Our conversion charges are as set forth at www.hybse.com.Any such conversion shall be effected by Us in such a manner and the rates set forth in Our website. Typically, such charges will be presented to you via Our trading platform at the time the payment is being made.
1.12.8. You also need to know that all foreign currency exchange risk arising from any transaction or from Our compliance with Our obligations or the exercise of Our rights under these Terms and Conditions will be your responsibility.
1.12.9. Once received, your money (save for any funds used as margin) shall be deposited in segregated client accounts maintained by Us with reputable payment institutions and payment providers in accordance with the local rules on client money (see Section 1.15 below for further details).
1.12.10. In the event you give an instruction to withdraw money from your trading account, We will reduce the requested money immediately from your account balance and shall process the withdrawal within five (5) business days, being any day other than a Saturday, Sunday or public holiday when banks in the relevant jurisdiction are open for business (“Business Day”). Our acceptance of the instruction depends on ifthe following requirements are met:
(i). That your instruction includes all necessary information;
(ii). That your instruction is to make a payment through a payment method in your name (e.g. bank account, e-wallets etc.); and
(iii). That you have provided full identification documents as may be requested by Us to support your instruction pursuant to Our AML procedures.
1.12.11. If We are unable to send the money or any partial amount thereof back to you through the original payment method, We reserve the right to pay the amount through an alternative payment method indicated by you (FOREX costs and Transfer costs will be on the receiver in this case). We shall not be held responsible for any transfer fees or charges charged to the receiver and/or any currency exchange rates resulting from the payment of such amount.
1.12.12. According to Our AML procedures, any withdrawal request will be paid to the same individual that originally deposited money with Us via any of the payment methods used by him/her when the trading account was initially funded (“original payment method”).
1.13.1. In order to receive dividend transactions, you should plan in advance. The listed companies shall provide and maintain investors with such amounts of money. The actual or future obligations for payouts of dividends are provided by Us in the form of the dividend payout tool.
1.13.2. We may also change Our dividends requirements at any time. Any requirement for dividends must be satisfied in the currency of origin and within such time as may be specified by the listed company or, if none is specified, you may immediately request information by the listed company.
1.13.3. Dividends shall be provided in cash or such other forms as published by the listed company. Based on the amount of money you have in your account, We retain the right to bill your account for any open transactions that you have open or are currently maintaining on the trading platform.
1.13.4. You have the responsibility to maintain appropriate arrangements with Us at all times for the receipt and communication of information. You are aware and acknowledge that We may require you to increase the amount in your account pursuant to maintaining your account.
1.14. Right of set-off
All your money, securities, currencies, and other property which the Hybrid Stock Exchange may at any time be holding for you (either individually, jointly with others, or as a guarantor of the account of any other person) or which may at any time be in its possession or control or carried on its books for any purpose, are subject to a general lien and right of set-off by the Hybrid Stock Exchange for your liabilities to the Hybrid Group.
1.15. Client Money
1.15.1. Your funds (any Hybrid Stock Exchange Credits) will be segregated by Us and held in segregated bank accounts or in segregated accounts with another authorized firm which may be an affiliate of Ours (i.e. will be held separately from Our own funds), in accordance with the applicable laws and regulations on client money.
1.15.2. We may hold your money and aggregate the money of other clients in the same bank account (an omnibus account).
1.15.3. We may hold client money in a bank account located outside of the original country. The legal and regulatory regime applying to any such bank might be different from that of the original country, and in the event of the insolvency or any other equivalent failure of that bank, your money may be treated differently from the treatment which would apply if the money was held with a bank in the home country.
1.15.4. We may allow another person to hold or control client money, where We transfer client money for the purpose of a transaction for you through or with that person or to meet your obligation for a transaction. Such funds will be held in accordance with the applicable laws and regulations.
1.15.5. We will not be liable for the insolvency acts or omissions of any bank or other third parties holding client money.
1.15.6. The clients' funds that will be held in segregated bank accounts, generally, will not bear any interest. However, if in any event interest is accumulated on such funds, it shall be deemed part of the Hybrid Group's funds if or once it is credited to the Hybrid Group.
1.15.7. In the event that there has been no movement on your account balance exceeding the minimal amount set forth in the Applicable Regulations, for a period of at least six years (excluding any payments or receipt of charges, interest or similar items), and We are unable to trace you despite having taken reasonable steps to do so, you agree that We may cease to treat your money as client money, and that ownership of such money will be irrevocably transferred from yourself to Us. Such limitation shall not apply with respect to account balances in amounts lower than the minimal amount set forth in the Applicable Regulations.
1.16. Several Trading Accounts
If you have more than one trading account, We reserve the right to treat all such accounts as if they were under one account. We may limit the number of trading accounts maintained by any person or within a single household, at Our sole discretion. We are authorized and entitled, without notice to you, to take such action to protect Our own position by combining your accounts, setting-off between your accounts or to satisfy any obligations that you may have to Us out of any of your monies in Our custody.
1.17. Administration Fees for Inactive Accounts
It is important to know that if your account is catergorised as an Inactive Account (defined below), an Inactivity Fee may be payable by you by virtue of the provision of and the continued availability of your account together with the cost of Our associated regulatory and compliance requirements towards you, regardless of your actual use. Once an account is deemed inactive, We can deduct a monthly Inactivity Fee in the amount set out on Our website at www.hybse.com. Such monthly fees shall be deducted until the balance of the account has reached zero. A dormant account with a zero balance may be closed by Us (however, We shall not charge any amount exceeding your available balance). You can avoid the deduction of the Inactivity Fee if you log into your account (on mobile or desktop) and theHybrid Stock Exchange will cease to deduct the Inactivity Fee unless your account shall become Inactive again, but We shall not refund any Inactivity Fees already deducted from the account prior to such trades. For the purpose of these Terms and Conditions, the term “Inactive Account” shall mean: (a) if you have not deposited funds into your account and have not logged into your account for a period of at least 90days; and (b) if you have deposited funds into your account and have not logged into your account for a period of at least 12 months. All Fees are to be viewed on the www.hybse.comprice list.
1.18.1. We do not utilize an executing broker, including an affiliate or a non-affiliated third party, to execute your orders and/or transactions. You (investor and issuer) are under an obligation to execute all orders and benefit from all remedies. All orders are Limited and liable due to the Terms and Conditions of the Hybrid Stock Exchange. We reserve the rights to decline any order or transaction, at any time, in Our sole discretion. You shall be responsible for monitoring all your orders until We confirm execution or cancellation of the order.
1.18.2. Any order or instruction you give Us will not take effect unless it is actually received and acknowledged by Us. We shall be entitled to act upon any order or instruction which We reasonably believe is given by you, or on your behalf, without further enquiry as to the genuineness, authority or the identity of any such person giving or purporting to give such orders or instructions. The execution of an order by Us shall constitute a binding agreement between yourself and Us on the terms of such an executed order.
1.18.3. You acknowledge that it may not be possible to cancel or modify a matched order with respect to certain types of transactions. Any attempt to cancel or modify a matched order is simply a request to cancel or modify and shall not be recognized by the Hybrid Stock Exchange,unless specifically approved by Us. The Hybrid Stock Exchange shall not be liable for any loss you may sustain in the event of a non-cancellation of said orders, regardless of the security price becoming highly volatile, with the occurrence of an exchange event and/or upon an excessive movement in the underlying exchange or the like.
1.18.4. Except for excluded transactions as set forth in www.hybse.com, any open positions held by you after the relevant hour as set forth on www.hybse.com (the “Overnight Hour”), which is considered the beginning and end of the trading day, are considered to be held overnight and are subject to overnight stops as explained below. You acknowledge that when holding such a position open after the Overnight Hour, an overnight stop will be either added or subtracted from your account with respect to such a position. The overnight stop amount is a constant fee/percentage of the position value amount per unit and is based on a number of factors including, among others, whether the transaction is a buy or a sell, interest rate, the currency in which it is denominated, instrument differentials, daily price fluctuations and other economic and exchange related factors. The overnight stop for each instrument is displayed on a www.hybse.comlink for each specific instrument on the trading platform. Please note that as most liquidity providers (which include global banks, financial institutions, prime brokers and other exchange makers) across the globe are closed on Saturdays and Sundays, there is no overnight stop on these days. Most liquidity providers still apply interest for those two days.
1.18.5. When an individual stock which is a constituent of a cash stock index goes ex-dividend, this will have a weighted effect on that cash index, known as the “index dividend” or “index impact”. We will make adjustments to those accounts with a position in an affected index, if that position is open on the relevant Overnight Hour on the day prior to the ex-dividend date of the constituent shares. We reserve the right to effect such adjustment within 30 days following the ex-dividend date. We will credit long positions and debit short positions (by means of a cash adjustment) to your account. In doing so, We will make Our best efforts to effect such adjustment on the basis of good faith and fairness and, where appropriate, by taking such actions as is consistent with exchange practice and/or taking into account the treatment We may receive from Our counter-parties or any relevant third party. As a result of such event, We may determine the appropriate adjustment to be made to the security price or contract quantity as We consider appropriate to account for the said event.
1.18.6. Order Securities (shares, ETC's and/or other financial instruments):
188.8.131.52 The execution price reported to you on the relevant confirmation of the buy or sell order shall reflect the prices made available to Us at the time of execution to which Our spreads and commissions shall be added or deducted, as the case may be. Such bid-ask prices shall not necessarily reflect the price for the underlying security as quoted on the relevant exchange in which the security is traded and/or the prices presented in charts (especially best price orders).The Hybrid Stock Exchange disclaims any liability with respect to any such discrepancies.
184.108.40.206 You acknowledge that Our platform is independent. You further acknowledge that the triggering of your transaction is linked to the prices We quote on Our platform, during trading hours and not the prices quoted on any relevant exchanges. In determining whether the prices quoted on the platform reach or exceed the price accepted by Us in a transaction, We will be entitled (but not obliged) to disregard any prices quoted during any pre-exchange or intra-day auction periods in the relevant exchange, during any intra-day or other period of suspension in the relevant exchange, or during any other period that in Our reasonable opinion may give rise to short-term price spikes or other distortions.
220.127.116.11. When entering into an order for securities, you irrevocably and unconditionally agree to accept the security bid/ask prices in which the transaction shall be executed as shall be reflected on Our trading platform as final and binding.
18.104.22.168. In accordance with Our Order Execution Policy, We may also aggregate your orders with Our own orders, orders of any of Our associates and/or persons connected with Us including employees and other clients. You accept that aggregation and split of your order may result in you obtaining a less favourable price than if your orders had been executed separately.
22.214.171.124. Without derogating from the generality of the foregoing or any other provision of these Terms and Conditions, We further reserve the right to NOT execute buy or sell orders for securities and/or to close any open positions therein, without any further notice to you, in the following circumstances: (1) Your order violates exchange rules or securities or commodities laws, regulation rules, or is intended to defraud or manipulate the exchange; (2) abnormal exchange conditions and/or a significant disruption in or premature close of trading of the underlying security and/or the exchange on which the underlying security is traded; (3) Force Majeure, acts of God, war (declared or undeclared), terrorism, fire or action by an exchange, regulatory or governmental authority that disrupts trading in the relevant security; (4) in the event liquidity providers are unable to provide liquidity to Us.
1.19. Applicable Regulations
1.19.1. These Terms and Conditions and any orders or transactions placed or executed under it are subject to all applicable laws and regulations including, without limitation to, the constitutions, articles, by-laws, rules, regulations, policies, procedures and interpretations (collectively, "Rules") of the exchanges and clearing houses in which the Hybrid Stock Exchange may elect to hedge its activity; and any other applicable rules of a regulatory, self-regulatory or governmental authority ("Applicable Regulations").
UNDER NO CIRCUMSTANCES SHALL HYBRID STOCK EXCHANGE OR ANY OF ITS AFFILIATES BE LIABLE TO YOU FOR ANY ACTION, INACTION, DECISION OR RULING OF ANY EXCHANGE, CLEARING HOUSE OR REGULATORY OR SELF-REGULATORY AUTHORITY.
1.19.2. You specifically acknowledge that exchange rules may afford the exchange wide powers in various situations, including, but not limited to, in an emergency, in an otherwise undesirable situation, or in the event of a default (not necessarily on the part of the Hybrid Stock Exchange and/or its affiliates), to close-out a transaction, to require the exercise of set-off rights or to take such other steps or combination of steps as the exchange thinks fit. The Hybrid Stock Exchange or its affiliates may take or omit any action they consider reasonable to comply with Applicable Regulations. Any such action taken by Us will be binding on you. Under no circumstances shall the Hybrid Stock Exchange or its affiliates be liable to you for any action, inaction, decision or ruling of any exchange, clearing house or regulatory, self-regulatory, governmental or supra national authority.
1.19.3. You need to know that nothing in these Terms and Conditions shall exclude or restrict any duty or liability owed by Us to you under the Applicable Regulations and, notwithstanding any other provision of these Terms and Conditions. We shall be entitled to take any action that We consider necessary to ensure compliance with any relevant legislation and regulations. In the event of a conflict between any provision of these Terms and Conditions and any relevant legislation and regulations, the relevant legislation and regulations shall prevail.
Each time you enter into a trade, you agree to repeat the following conditions:
126.96.36.199 That you are not an employee of any Stock Exchange, a corporation in which any Stock Exchange owns a majority of the Stock Exchange, a member of any Stock Exchange and/or firm registered on any exchange or any bank, trust or insurance company that trades in Stock Exchange shares held by you;
188.8.131.52. Also, you will not enter into any transaction which falls within the definition of Exchange abuse. You are reminded that this applies to all forms of exchange abuse such as insider trading, the misuse of information and directors trading in shares of their own companies; in such circumstances, We reserve the right to void all your trading transactions. The use of any high speed trading, scalping or automated data entry system will only be permitted with Our prior written consent. Accordingly, a significant number of transactions with short durations may be deemed as exchange abuse.
184.108.40.206. Likewise, you will not enter into transactions or combinations of transactions such as holding long and short positions in the same or similar instruments at similar times either personally or by yourself acting in concert with others, which taken together or separately are for the purpose of manipulating Our platform for gain. Such activity shall be subject to Our right to seek reimbursement by equalization from you or any of the connected accounts; and
220.127.116.11.The execution, delivery and performance of these Terms and Conditions and your use of the Trading Platform including each transaction you complete thereto, will not violate any law, ordinance, charter, by-law or rule applicable to you, in the jurisdiction in which you are resident, or any agreement by which you are bound or by which any of your assets are affected.
1.20. Account Information
Posting of Account Information on the website will be deemed delivery to you of any relevant information (such as confirmations and account statements). We will post details of your account activity on the website. Updated account information will be available after any activity takes place on your account. Account information will include confirmations, purchase and sale rates, utilized and unutilized margins available for margin trading, statements of profits and losses, as well as current open positions, any other information required to be provided by the local rules and any other information We may make available (“Account Information”). We may, at Our sole discretion, withdraw or amend any account information at any time. Unless otherwise agreed by Us, you agree that We are under no obligation to provide confirmations in hard copy or by email rather than through the website. The account information (save if manifestly incorrect) will be conclusive evidence of your transactions, open positions, margin and cash balances and will be binding on you if not objected to [on the day of posting] with such objections being confirmed in writing (including email or electronic mail) no later than close of business on the Business Day following the day on which the account information is posted.
1.21. Exchanging Promotions Terms & Expiration.
1.21.1. It is important to know that all promotions offering benefits to Our users and potential users, such as bonuses, credits and other special offers (collectively, “Hybrid Stock Exchange Credits”) that We offer or, may offer in the future, are subject to specific promotional terms and conditions pursuant to which such Hybrid Stock Exchange credits must be used. The Hybrid Stock Exchange Credits may be subject to expiration as shall be determined by the Hybrid Stock Exchange in its sole discretion from time to time. If so determined by the Hybrid Stock Exchange, such Hybrid Stock Exchange Credits shall be deducted from your account upon or following the expiration date, including without limitation, by closing of any open positions. Certain promotions may not be available in certain countries, as shall be determined by Us at Our sole discretion. Such countries may initially include United States, Japan, Canada (Including Ontario & Quebec), Iran, Democratic People's Republic of Korea (DPRK), Algeria and Syria.
1.21.2. If We suspect that a user has abused or attempted to abuse a promotion or otherwise acted in bad faith towards Us (for instance, if you withdraw your initial deposit), then We reserve the right, at Our sole discretion, to deny, withhold or withdraw the promotion from that user and, if necessary, to cancel any terms and conditions with respect to that user, either temporarily or permanently, or to terminate that user's access to the services and/or block that user's account. At all times, We reserve the right to deny, withhold or withdraw any promotion at Our sole discretion at any time.
1.21.3. Any eligible Hybrid Stock Exchange Credits will only be credited once per account, person, household and/or any environment where computers are shared.
1.21.4. From time to time, the Hybrid Stock Exchange may grant you Hybrid Stock Exchange Credits with which you can trade through your account. All Hybrid Stock Exchange Credits may never be withdrawn by you and may only be utilized to execute trades in your account and all such credit amounts are considered “Non-withdrawable Amounts (NWA)”, except if such amounts are reduced as described below. Every time you close a trade, your NWA will be reduced and such reduced portionsshall become withdrawable amounts (WA).
1.21.5. You may withdraw any amount deposited by you not invested in open positions at any time, subject to the deduction of any fees and/or amounts due to Us. You will only be able to withdraw profits earned with respect to such Hybrid Stock Exchange Credits (exceeding your NWA), any amount of NWA which became withdrawable as described above and any amount deposited by you (taking into account your NWA and unrealized loss/profit). Making a withdrawal may result in a reduction to your Hybrid Stock Exchange credits. Withdrawing portions or the full amount of your deposits (excluding profits generated by You or WA), will be followed by a deduction in the same percentage as the Hybrid Stock Exchangecredits that were granted in association with these deposits. You may always cancel or reduce the amount set forth in your withdrawal request to avoid such deduction.
1.21.6. You acknowledge that the withdrawal of your earnings and WA is subject to the withdrawal fees and procedures. The WA shall equal the balance minus thenon-withdrawable amount (taking into account your unrealized loss/profit). The actual approved withdrawal amount shall be calculated according to your unrealized loss/profit at the time of submission of the withdrawal request (such amount may differ from the amount presented on Our system at the time of the withdrawal request due to exchange move). You may withdraw your unrealized profits exceeding your balance by closing open positions. View price list for specific details.
1.21.7. It is important to know that to the extent to which you have not deposited funds into your account and have not logged into your account for a period of at least 90 days, your Hybrid Stock Exchange Credits shall expire as explained in this clause. Once you have not logged into your account for a period of at least 90 days, the following actions shall be taken by Us: (a) all your open trades including any open copies traders or traders shall be closed by Us without any further notice to you or action on your part; (b) any available Hybrid Stock Exchange Credits shall be removed from the account; and (c) inactive accounts with a zero balance may be closed by Us without any further notice to you. Any Hybrid Stock Exchange Credits so deducted shall not be refundable or repayable to you. All such accounts having available balances shall be further subject to an Inactivity Fee. The reactivation of your account will be billed or charged.
2. INTELLECTUAL PROPERTY
The use of Our Services does not grant you any rights other than those granted to you by revocable licenses in any way. We own or are licensed to use all the images, graphics, video, audio, software code, user interface design or logos, and/or content displayed on Our website and/or any software used therein and/or usable thereby. You may not use these images in any way other than the manner in which We provide them. You are not permitted to use any of Our images and/or content for any other purpose without obtaining Our prior written consent. Nothing contained on Our websites shall be construed as granting, by implication or otherwise, of any license or right to use any trademark without either Our written permission or the permission of the proprietor of such trademarks. You may not, without Our prior written permission, alter, modify, reproduce, distribute or commercially exploit any materials, including text, graphics, video, audio, software code, user interface design or logos, from this or any of Our websites. If you link from another website to one or more of Our websites, your website, as well as the link itself, may not, without Our prior written permission, suggest that We endorse, sponsor or are affiliated with any non-Hybrid Stock Exchange website, entity, service or product, and may not make use of any of Our intellectual property (IP) other than those contained within the text of the link. All Our IP assets including, but not limited to, all copyrights, patents, trademarks, service marks, trade names, software codes, characters, layouts, icons, logos, trade secrets, buttons, colour scheme and graphics are Our sole and exclusive IP and are all protected by local and international intellectual property laws and treaties including all copyright laws and regulations. Under no circumstances shall you remove any copyright notification from any of Our IP or unlawfully use Our websites and/or software.
3. CONTENT, PERSONAL DATA AND COMMUNICATIONS WITHIN THE ETORO COMMUNITY
3.1. Content and Personal Data
3.1.1. Upon acceptance of Our Terms and Conditions, you agree and acknowledge that the following information and content shall be considered non-confidential and non-proprietary information (other than your personal data as described below, collectively referred to as the "Content"): your user-name, your picture/avatar (if provided), your state of residency, gender, networks, list of users who follow you, users who copy you, etc., list of users you follow or copy, and any network status/posts/blogs and any other content options that enable Our users to interact amongst themselves, including but without limitation to, content and information you post on Our community, comments, feedback, postings, blogs and/or all information that you provide to Us via Our website and/or by email, fax or telephone and in addition, if you have elected to use one of Our social networks applications (such as Facebook, Twitter, Google + etc.), Our application will have access to your social network account's general information which includes your name and user-name in such social networks, profile picture, gender, networks, user ID, list of friends, and any other information that you have shared with “everyone” on such social network. Additional information may be collected in specific social network campaigns as shall be specified in the terms and conditions applicable to such campaigns. All portfolio and trading information performance results shall be considered non-confidential and non-proprietary information. By providing such content, you specifically grant Us a non-exclusive, irrevocable, transferable, sub-licensable, royalty-free, worldwide license to use, copy, duplicate, store, present and/or publish all or any part of your content, and We shall be free to use such content in any manner of media whatsoever, on an unrestricted basis and without any attribution of royalties or other compensation to you, including but not limited to,within or outside Our website, advertisements, in printed media and/or newspapers.
3.1.2. Also, your telephone conversations and email/chat communications with Us may be recorded/maintained by Us with or without the use of an automatic tone warning device. Any recordings shall remain Our sole property and will be accepted by you as conclusive evidence of their content as recorded by Us. You agree that We may deliver copies of transcripts of such recordings to any court, regulatory or government authority, including but not limited to, disputes which may arise between yourself and Us.
3.1.3. Such personal data may be used for exchanging purposes, or to conduct exchange research for Us or other companies in Our group that may use the personal data to bring to your attention products and services that may be of interest to you and also to assist in the efficient provision of the services. By entering into these Terms and Conditions, you are consenting to the transmittal of your personal data (i.e. your personally identifiable information and your payment details) to other companies in the Hybrid Group and to external companies to help Us process and/or analyse it as part of the services provided to you.
3.1.4. As well, without derogating from the generality of the foregoing, We and Our affiliates and agents may collect, store and process information from you or, in connection with the services, for the purpose of complying with any applicable regulation, including disclosures to governmental authorities.
3.2. Communications within the Hybrid Stock Exchange Community; Links to Third Party Websites, Newsletters etc.
3.2.1. Additionally, you confirm and warrant that: (i) you own all rights to titles and interests in any content provided by you, and (ii) the posting of your content by Us (in any manner or media whatsoever, on an unrestricted basis) does not (and will not) violate the privacy rights, publicity rights, copyright, contract rights or any other rights of any individual, make derogatory remarks, defame or otherwise criticize any person or entity. You shall be solely liable for any damage resulting from any infringement or other violation of the copyrights, trademarks or other proprietary rights of any individual or entity, and for any other harm or loss resulting from any content. You acknowledge that you are responsible for any content that you submit or transmit through any of Our websites, applications and/or any network status/posts/blogs and any other communications and/or content options available by Us, including your responsibility as to the legality, reliability, appropriateness, originality and copyright of any such information or material.
3.2.2. Please note: In Our efforts to promote collegial, non-misleading and non-defamatory communications between the users of Our community, you are strictly prohibited from: (1) making statements as to your eligibility to provide investment advice, portfolio management and/or any other services and/or activity which may require a license, registration and/or notification in your state of residency and/or in the residency states of Our users; (2) making statements that the Hybrid Group and/or its affiliates endorse, maintain any control and/or guarantee the accuracy and/or completeness of the content published, posted or shared by you with other users; (3) making statements that are abusive, defamatory, harassing, and/or insulting to the Hybrid Stock Exchange, its affiliates, employees, shareholders and/or any of its associates and/or other users or otherwise; (4) making statements that advertise or promote any other online entities of you and/or any services; (5) making statements that contain sexually explicit and/or any grossly offensive content, including expressions of bigotry, racism, hatred or profanity or that is hateful, threatening or pornographic; incites violence or that contains nudity or graphic and gratuitous violence; (6) sending or otherwise posting unauthorized commercial communications (such as spam) on Our websites, applications and/or utilising the services; (7) collecting users' content or information, or otherwise accessing Our websites and/or services, using automated means (such as harvesting bots, robots, spiders, or scrapers); (8) engaging in unlawful multi-level exchanging, such as a pyramid scheme, on Our websites and/or Our Services; (9) uploading viruses or other malicious code; (10) soliciting personal information and/or login information to access an account belonging to someone else; (11) using Our websites and/or services to do anything unlawful, misleading, malicious, or discriminatory; (12) doing anything that could disable, overburden, or impair the proper working of the Hybrid Stock Exchange, such as a denial of service attack and/or facilitate or encourage any violations of these Terms and Conditions. All content relating to the above (including any unsubstantiated performance claims) may be removed from any of Our websites. If you violate the above, We shall have the right to terminate your account and/or terminate or restrict your access to all or any services and, if relevant, refund any money in your account.
3.2.3. If you have been qualified as a "Popular Investor" or a leading user please contact your account manager to receive further information with respect to any such restrictions which may apply to you. “Popular Investors” and/or leading users may be subject to additional rules of conduct and restrictions relating to their content or trading activity which may be imposed by Us from time to time either generally or as a part of specified promotions.
3.2.4. We, at Our sole discretion, reserve the right to review, monitor, revise and/or remove any such content in any way We see fit. We do not undertake to review and monitor all the content and We do not in any manner endorse, support, sanction, encourage, verify or agree with any such content. You acknowledge that We may report to government authorities any actions that may be considered illegal and/or as may be required by such authorities. When requested, We may cooperate with government authorities in any investigation of alleged illegal activity. You further confirm and acknowledge that We may also maintain records of all such content.
3.2.5. We may provide you with various analytical tools, links to other websites, circulate news letters and/or provide you with third party information for your convenience. By doing so, neither We nor any of Our affiliates are endorsing, giving any representation, warranting, guaranteeing, sponsoring or otherwise responsible for the accuracy, correctness, timeliness, completeness or suitability of such information. Such information and tools are provided solely to assist you to make your own investment decisions and does not amount to investment advice. It is important to make a distinction between indicative prices which are displayed on charts or elsewhere on Our websites and dealable prices which are displayed on Our trading platform. Indicative quotes only give an indication of where the exchange is. Therefore, any prices displayed on any chart made available by Us or by a third party will only reflect "indicative" prices and not necessarily actual "dealing" prices where trades can be executed. Our quotes and orders are further discussed in Sections 1.11 and 1.18 of these Terms and Conditions. You understand that we are not required to continue to provide or update the above mentioned tools and information and We may cease to do so at any time. For purposes of clarity, We will not be responsible for the termination, interruption, delay or inaccuracy of any informations. You undertake not to enable deep linking or any other form of re-distribution or re-use of the information. As such, We urge you to read and fully understand the terms and conditions and other policies of such websites, newsletters and information before using them. Past performance is no guarantee of future results and We advise users to carefully review all claims and representations made by other users, advisors, bloggers, money managers and system vendors before making an investment decision on the basis of any of the above.
UNDER NO CIRCUMSTANCES SHALL HYBRID STOCK EXCHANGE OR ITS AFFILIATES BE RESPONSIBLE OR LIABLE TO YOU OR ANYONE ELSE, DIRECTLY OR INDIRECTLY, FOR ANY DAMAGE OR LOSS ARISING FROM OR RELATING TO ANY USE, CONTINUED USE OR RELIANCE ON ANY SUCH INFORMATION OR TOOLS, INCLUDING, BUT NOT LIMITED TO, DIRECT OR INDIRECT RESULTS FROM ERRORS IN, OMISSIONS OF OR ALTERATIONS TO ANY SUCH INFORMATION.
4. RISKS DISCLAIMERS AND LIMITATIONS ON LIABILITY
4.1. General Risk Statement
As you know, ETC Exchange is a dynamic arena and you should not deal in these products unless you understand their nature and the extent of your exposure to risk. You should also be satisfied that the product is suitable for you in light of your circumstances and financial position. In addition, the use of Our services can never be considered a safe investment, rather, only an investment with a high risk of loss inherently associated with it. Furthermore, Our own spread is added to online quotes which makes a trade on Our websites even more volatile. We make sure that the maximum risk associated for any user shall not exceed the actual amount available in your account. You understand and confirm that you are using Our services at your own risk. It is for this reason that we provide the use of Our services to those who can actually bear the loss of any money invested and who properly understand the associated risks that are inherent to trading contracts for differences in relation to foreign currencies, securities (including shares, stocks and/or other debt instruments) and commodities. It is also important to have relevant experience when entering financial contracts and transactions.
4.2. Accountability for Each Financial Transaction
By using Our services, you agree to be fully, independently and personally liable for each transaction and/or credit card transaction made on Our system through your account. As such, you must make sure that you are the only person with access to your account at all times. You must make sure that no minors have access to your account. If you do not settle a transaction performed through your account, you shall be liable to Us and must indemnify Us in the amount necessary to cover the entire cost of the transaction whether direct or indirect. In the unlikely event that a contract is entered into, acquire or sell currency at a price that does not reflect the exchange price (such as an event where a technical error such as a bug or defect has caused a malfunction that has affected the price of the transaction), We reserve Our right to terminate and cancel any such transaction. We will notify you of Our decision to cancel the transaction and explain Our reasons to you. On the other hand, you are required to inform Us of any such malfunction should you experience such an occurrence whilst trading on Our system.
4.3. Restrictions on Financial Transactions
By using Our services, you declare that all the funds that you use and invest on Our services do not originate in any way from drug trafficking, abduction, terrorist activity or any other criminal activity that is unlawful or could be considered unlawful by any authority. You must understand that financial regulations, financial codes, financial ethics and contractual requirements vary worldwide. As such, you understand that ultimately it is your responsibility to make sure that you comply with any and all local regulations, directives, restrictions and laws in your local place of residence before using Our services. We strictly state that Our services may not be used in jurisdictions which prohibit the use of Our services and may not be used by any persons located in jurisdictions prohibited by local laws. Please note that the Hybrid Stock Exchange shall apply its own spread to all transactions and trades made by using Our services which can increase the cost of the transactions and trades accordingly. In the event that We become suspicious that you may be engaging in or have engaged in fraudulent, unlawful or improper activity, including, but not limited to money laundering activities, or conduct otherwise in violation of these Terms and Conditions, your access to the services may be terminated immediately and/or your account blocked. If your account is terminated or blocked in such circumstances, the Hybrid Stock Exchange is under no obligation to refund any funds that may be in your account, unless otherwise instructed by a relevant regulatory authority. In addition to terminating your access to the service and/or blocking your account, We reserve the right to prevent you from accessing any of Our other websites or servers, or accessing any other services offered by Us. We shall be entitled to inform the relevant authorities, other online service providers and banks, credit card companies, electronic payment providers or other financial institutions of your identity and of any suspected unlawful, fraudulent or improper activity and you shall cooperate fully with Us to investigate any such activity.
4.4. Additional Risk Disclosures
It is important that you are fully aware of the following points:
4.4.1. If you are trading over alternative trading platforms or third party trading accounts, such trading activities shall be subject to the commissions and fees available to Our clients over such platforms, and to the terms and conditions applicable to such trading accounts in addition to any and all of the terms set forth in these Terms and Conditions. TheHybrid Stock Exchange and its affiliates shall not be liable for any damage and/or loss resulting from thisand does not guarantee the execution of any order, the placing of stops, regardless of the entry or closing designation and/or that the trade will be filled at the order price and/or that the trading via such athird party trading platform shall be error free orwithout delays.
4.4.2. The Hybrid Stock Exchange reserves the right to close part, or all, of customers' open positions, in order to facilitate the charge of any fees or amounts due by you. You shall, however, be liable for promptly paying such fee(s) and/or amounts to the Hybrid Stock Exchange regardless.
4.4.3. Due to the high degree of risk involved in trading volatile instruments, you acknowledge and agree that We reserve the right to close all or any open transactions with respect to any instruments that We determine, acting reasonably, to be volatile, at the price quoted on the Trading Platform at such time without notice. You acknowledge that the trading of certain instruments on the trading platform is likely to change in a very sudden or extreme way and without warning.
4.4.4. Hybrid Stock Exchange does not guarantee any order. Placing stops, regardless of the entry or closing designation, does not guarantee that the trade will be filled at the order price. All entry stops will be filled, upon activation, at the first/best available exchange price that may or may not match the requested order price.
4.4.5. In the event of liquidity providers being unable to provide liquidity to Us, your order may experience delays in execution or you may not be able to place orders entirely. The size of the order may also impede the speed at which the order is executed. Bear in mind that it is only necessary to enter an order once. Multiple entries for the same order may inadvertently open unwanted positions.
4.4.6. Any system failure may be as a result of your order not being executed according to your instructions, executing with account balance errors and discrepancies or not executed at all. While trading on Our website and/or applications, you might encounter system errors that result from hardware and/or software failures. Hybrid Stock Exchange will not be held liable for the resultant errors in account balances. Hybrid Stock Exchange reserves the right to make the necessary corrections or adjustments on the account involved.
4.4.7.No system exists that could assure you that your ETCs will bring you great benefits, nor is it possible to guarantee that your transactions will yield favourable results. High leverage allows trading in ETCs with relatively modest margins or guarantees in relation to the scope of the contract. The result of this is that even a slight fluctuation of the underlying exchange or instruments could mean substantial gains when these fluctuations are in your favour, but could also mean considerable losses if the fluctuations are to your detriment.
4.4.8. Even though the foreign currencies, commodities, securities and indices Exchanges may be liquid as compared with other financial instruments or exchanges, the exchange conditions might at times render the execution of an order or of a limit on an order (for example by placing a stop) at a stipulated price impossible. Accordingly, even though the extent of the losses could be subject to an agreed limit, the risk of incurring losses could be higher, and that loss could occur in a relatively short period of time.
4.4.9. In the event of the price of one of your transactions moving against you, in addition to the requirement to deposit additional guarantees or margins as may be required by the Hybrid Stock Exchange, the Hybrid Stock Exchange reserves the right to close the outstanding balances without your consent.
4.4.10. Under abnormal exchange conditions, the price of underlying exchange or instruments may fluctuate rapidly to reflect unforeseeable events that cannot be controlled either by Us or by you.
4.4.11. The risk disclosures presented here do not reflect all of the risks as well as other important aspects relating to ETCs.
4.4.12. Since deposit of an additional guarantee is not obligatory in this case, the Hybrid Stock Exchange reserves the right to close the outstanding balances without your consent.
4.4.13. Under abnormal exchange conditions, securities may fluctuate rapidly to reflect unforeseeable events that cannot be controlled either by Us or by you.
4.4.14. It is important to make a distinction between indicative prices which are displayed on charts and deal-able prices which are displayed on Our trading platform. Indicative quotes only give an indication of where the exchange is. Because the forex, Bitcoins and derivatives products exchange are decentralised, meaning it lacks a single central exchange where all transactions are conducted, each exchange maker may quote slightly different prices. Therefore, any prices displayed on any chart made available by Us or by a third party will only reflect "indicative" prices and not necessarily actual "dealing" prices where trades can be executed.
4.4.15. Hybrid Stock Exchange reserves the right not to offset contracts carried over the weekend shortly after exchanges are open but will allow offsetting contracts carried over the weekend when and if exchange liquidity conditions are reasonable. All statements with respect to real money accounts will be open during the weekend and all traders are welcome to view their trading account info.
4.4.16. You are advised to learn the specifics of trading on such transactions or to seek further advice before starting to trade. The risk information presented here does not reflect all of the risks as well as other important aspects intrinsic to ETC transactions with respect to foreign currencies, commodities and securities.
4.4.17. Please note that there are a series of inherent risks with the use of the mobile trading technology such as the duplication of order instructions, latency in the prices provided, and other issues that are a result of mobile connectivity. Prices displayed on the mobile platform may not reflect the actual executed price of the order but are solely an indication of the executable rates. Our mobile feature utilizes public communication network, circuits for the transmission of messages. We shall not be liable for all circumstances in which you experience a delay in price quotation or an inability to trade caused by network circuit transmission problems or any other problems outside Our direct control, which include, but are not limited to the strength of the mobile signal, cellular latency, or any other issues that may arise between you and any internet service provider, phone service provider, or any other service provider. Please further note that some of the features available on the trading platform or Our Social Trading Features may not be available on Our mobile feature.
4.5. Risks Associated with Social Trading
Hybrid Stock Exchange and its affiliates are proud to provide you with the ability to interact, follow and copy other traders by using information and/or social trading features provided and/or made available on Our websites and/or trading platforms. Such social trading features include but are not limited to Our community, "follow", "copy" and/or "copy-trader" traders rankings, "featured users" and/or any advanced search options etc. (collectively, "Social Trading Features"). However, We note that Social Trading Features are associated with various risks and you are urged to carefully read and consider the following risks before utilizing either of Our Social Trading Features:
4.5.1. The Hybrid Stock Exchange, its affiliates and their employees and agents are not investment or financial advisers, therefore,Social Trading Features are provided by Us solely for informational purposes.
YOU ARE SOLELY AND ENTIRELY RESPONSIBLE FOR DETERMINING WHETHER ANY INVESTMENT, OR STRATEGY, OR ANY OTHER PRODUCT OR SERVICE IS APPROPRIATE OR SUITABLE FOR YOU BASED ON YOUR INVESTMENT OBJECTIVES AND PERSONAL AND FINANCIAL SITUATION. IF YOU MAKE INVESTMENT DECISIONS IN RELYING ON INFORMATION WHICH IS AVAILABLE ON OUR WEBSITES OR AS A RESULT OF THE USE OF THE SOCIAL TRADING FEATURES, YOU DO SO AT YOUR OWN RISK AND HYBRID STOCK EXCHANGE, ITS AFFILIATES, THEIR EMPLOYEES AND ITS AGENTS WILL NOT BE LIABLE FOR ANY LOSSES THAT YOU MAY INCUR. PLEASE CONDUCT YOUR OWN RESEARCH BEFORE MAKING ANY INVESTMENT DECISIONS.
4.5.2. Please be warned that a trader's copied positions (with respect to any of Our financial instruments) shall be copied using the lower of either the minimum position amount or with the same proportional amounts and with the same leverage, to the maximum extent possible. All such positions shall be closed automatically if and when closed by the copied trader and/or by Us for whatsoever reason without providing any further notice and without any action on your part. You should be able and prepared to bear the loss of the entire investment you made in such a copied trader. You are fully responsible for any losses you may incur as a result of Our automatic execution of instructions generated as a result of the utilization of any of the Social Trading Features.
4.5.3.If you place additional trades in your account or you modify or cancel an order generated by a Social Trading Feature, you may achieve a materially different result than the user that you copied. Changing a copied position shall cause its disconnection from the original position. Such disconnected position shall not be automatically closed or changed when the original position is changed or closed.
4.5.4.Any past performance of Our users indicated on Our websites is not indicative of future results and should be considered as hypothetical, as fully described below. It is important to understand that past archival performance is not a guarantee of future performance. When reviewing the content, portfolio, financial performance information, opinions or advice of another registered user, you should not assume that the user is unbiased, independent or qualified to provide financial information or advice.
4.5.5. WE DO NOT GUARANTEE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE DOCUMENTED AND MAY NOT TAKE INTO ACCOUNT FEES, SPREADS AND/OR TRADING COMMISSIONS THAT MAY BE CHARGED. THE ACTUAL PERCENTAGE OF GAINS/LOSSES EXPERIENCED BY INVESTORS WILL VARY DEPENDING ON MANY FACTORS, INCLUDING BUT NOT LIMITED TO: STARTING ACCOUNT BALANCES (DEPOSITS AND WITHDRAWALS), EXCHANGE BEHAVIOR, THE INVESTOR'S ACCOUNT SETTINGS AND THE PERFORMANCE OF THE COPIED USER. CONSEQUENTLY, ACTUAL PERCENTAGE OF GAINS/LOSSES EXPERIENCED BY INVESTORS MAY BE MATERIALLY DIFFERENT THAN THE PERCENTAGE OF GAINS/LOSSES AS PRESENTED ON THIS WEBSITE. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF INSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE EXCHANGE IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.
4.5.3. UNDER NO CIRCUMSTANCES SHOULD INFORMATION AND/OR SOCIAL TRADING FEATURES AVAILABLE ON OUR WEBSITES BE CONSTRUED AS PROVIDING ANY INVESTMENT, TAX OR OTHER FINANCIAL ADVICE OF ANY KIND. YOU SHOULD NOT CONSIDER ANY SUCH CONTENT AND/OR ANY SUCH FEATURE TO BE A SUBSTITUTE FOR PROFESSIONAL FINANCIAL ADVICE. IF YOU CHOOSE TO ENGAGE IN TRANSACTIONS BASED ON CONTENT ON THE WEBSITE AND/OR ELECT TO COPY SPECIFIC TRADERS AND/OR TRADES THEN ANY CONSEQUENCES FLOWING THEREFROM IS YOUR SOLE RESPONSIBILITY. WHILE INDIVIDUAL PARTICIPANTS MAY OFFER INVESTMENT ADVICE OR OPINIONS AND/OR EFFECT A TRANSACTION WHICH MAY BE SUBSEQUENTLY COPIED BY OTHER TRADERS, SUCH ADVICE, OPINIONS OR TRADES AMOUNT TO NOTHING MORE THAN EXCHANGES BETWEEN PERSONS WHO MAY BE ANONYMOUS OR UNIDENTIFIABLE OR SIMPLY THE EXECUTION OF A TRADE BY SUCH TRADERS. HYBRID STOCK EXCHANGE AND ITS AFFILIATES DO NOT PROVIDE INVESTMENT ADVICE DIRECTLY, INDIRECTLY, IMPLICITLY, OR IN ANY MANNER WHATSOEVER BY MAKING SUCH INFORMATION AND/OR FEATURES AVAILABLE TO YOU. ANY INFORMATION GATHERED FROM US SHOULD ONLY BE UTILISED AS A STARTING POINT FOR YOUR OWN INDEPENDENT RESEARCH AND INVESTMENT DECISION MAKING,.THAT IS ALSO THE CASE WITH INFORMATION FOUND ON THE SOCIAL TRADING FEATURES.
4.6. Additional Risks and Disclosures Associated with Trading ETCs.
This notice does not disclose all of the risks and other significant aspects of contracts for differences with respect to securities. In addition to and without derogating from the general risk disclosure set forth in Section 4.1, We condition the ability trade in contracts for differences for securities (including shares, stocks, ETCs and/or other debt instruments) to those who can actually bear the loss of any money invested and who properly understand the associated risks that are inherent to such financial instruments. In that respect, We note as follows:
4.6.1. When effecting a transaction in securities, you shall not have any title or ownership (beneficial or otherwise) in the underlying security. As such, you shall not be entitled to any voting rights, rights to receive notifications, dividend rights and/or other rights associated with ownership of a security. For further information with respect to your rights upon an event of dividend distribution and/or merger or acquisition of the corporations with issuer of the underlying security, see Section 4.6.5 below.
4.6.2. We act as a counter party in such transactions conducted on the trading platform, therefore, We act as the buyer when you offer to sell an instrument and the seller when you offer to buy such instrument.
4.6.3. When effecting such transactions, the Hybrid Stock Exchange may or may not acquire the underlying security. Should the Hybrid Stock Exchange elect to acquire such security, it may refrain from exercising its rights as a security holder (directly or through one or more intermediaries) without notifying you and without taking your interests into account.
4.6.4. We reserve the right to close out any open positions at the exchange price immediately prior to the event taking place. As a result of such an event, if the security underlying any instrument becomes subject to an adjustment as a result of a takeover or transformation action, We may determine the appropriate adjustment to be made to the ETC price or contract quantity as We consider the appropriate way to account for the said event. Such adjustment shall represent the economic equivalent of our rights and obligations and of yours immediately prior to the action. Depending on the circumstances of each event, We will make Our best efforts to adjust your account in respect of dividends, takeovers and transformations, attributable to any specific security underlying the ETC held by you, which adjustment shall be calculated by Us, net of any taxes that may apply with respect hereto. In doing so, We will effect such adjustment fairly and in good faith according to Our best efforts and, where appropriate, take such action as is consistent with exchange practice and/or take into account the treatment We may receive from Our counter parties or any relevant third party.
4.6.5. We shall close any open transactions in the relevant risk of any issuer becoming insolvent or an action of dissolving is about to take place. The closing date shall be 30 days before the date of insolvency.
5. INDEMNIFICATION AND LIMITATION OF LIABILITY
5.1. THE USE OF THE WEBSITE, AND ANY PUBLICATIONS, PRESENTATIONS, FINANCIAL TRADING INFORMATION, PRICING DATA, TRADE DATA, PERFORMANCE INFORMATION, BLOGS, POSTINGS, OR OTHER INFORMATION, CONTENT, SERVICES AND MATERIALS CONTAINED IN OR ACCESSED VIA OUR WEBSITE BY YOU IS AT YOUR OWN RISK, AND ALL SUCH INFORMATION, CONTENT, SERVICES AND MATERIALS ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS.
5.2. TO THE FULL EXTENT PERMISSIBLE BY APPLICABLE LAW, WE DISCLAIM ALL REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, AS TO THE AVAILABILITY, OPERATION AND USE OF OUR WEBSITES OR THE INFORMATION, CONTENT, MATERIALS OR SERVICES ON OR ACCESSED VIA OUR WEBSITES, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT, AND IMPLIED WARRANTIES ARISING FROM COURSE OF DEALING OR COURSE OF PERFORMANCE. NEITHER THE WEBSITE, NOR ANY INFORMATION, CONTENT, MATERIALS, OR SERVICES AVAILABLE VIA THE SITE, IS INTENDED TO CONSTITUTE, OR SHOULD BE CONSTRUED AS, A SOLICITATION OR ANY OFFER TO BUY AN INTEREST IN ANY SECURITY, INVESTMENT ADVICE OR A RECOMMENDATION OR PROMOTION OF ANY TRANSACTION OR OTHER FINANCIAL PRODUCTS, INVESTMENT MANAGER, OR TRADING OR INVESTMENT STRATEGY. IN ADDITION, WE DO NOT GUARANTEE THAT THE INFORMATION ACCESSIBLE VIA THE SITE IS ACCURATE, COMPLETE, RELIABLE OR CURRENT AND WE ARE NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS THEREIN. SIMILARLY, WE SHALL NOT BE RESPONSIBLE FOR ANY ADVERSE CONSEQUENCES RESULTING FROM YOUR RELIANCE ON ANY ASPECT OF THE SITE. FURTHER, WE MAKE NO AFFIRMATIONS AND WARRANTIES THAT OUR WEBSITES WILL BE UNINTERRUPTED, SECURED, OR FREE OF ERRORS OR VIRUSES, OR OTHER HARMFUL COMPONENTS.
5.3. UNDER NO CIRCUMSTANCES SHALL WE OR OUR AFFILIATES, OR THE DIRECTORS, OFFICERS, EMPLOYEES, AGENTS OR REPRESENTATIVES OF HYBRID STOCK EXCHANGE OR ITS AFFILIATES (THE "HYBRID GROUP") BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY DIRECT, INDIRECT, SPECIAL, PUNITIVE, INCIDENTAL OR CONSEQUENTIAL DAMAGES OR LOSS OF PROFITS, GOODWILL OR REVENUE, BUSINESS INTERRUPTION, OR LOSS OF DATA DAMAGES OF ANY KIND ARISING OUT OF THE USE OF, ACCESS TO, RELIANCE ON, INABILITY TO USE OR IMPROPER USE OF OUR WEBSITES, ANY INFORMATION POSTED ON OUR WEBSITES BY ITS USERS, OR ANY OTHER INFORMATION, CONTENT, MATERIALS OR SERVICES AVAILABLE ON OUR WEBSITES EVEN IF NOT ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, AND REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, TORT, DELICT OR OTHERWISE.
5.4. NOT WITHSTANDING THE MAXIMUM LIABILITY THAT YOU MAY CLAIM FROM US FOR ANY REASON, WE SHALL NOT IN ANY EVENT BE LIABLE TO MORE THAN THE ACTUAL SUM OF MONEY THAT YOU DEPOSITED IN YOUR ACCOUNT FOR THE PURPOSE OF TRADING OR FOR ANY ACCUMULATED LIABILITY THAT YOU INCUR. CERTAIN STATE LAWS DO NOT PERMIT LIMITATIONS ON IMPLIED WARRANTIES OR THE EXCLUSION OR LIMITATION OF CERTAIN TYPES OF DAMAGES, AND THUS SOME OR ALL OF THE DISCLAIMERS, EXCLUSIONS OR LIMITATIONS ABOVE MAY NOT APPLY TO YOU.
6. TECHNICAL FEATURES AND REQUIREMENTS
6.1. We reserve the right to discontinue, redesign, modify, enhance, change, patch the software and/or the services including the structure, specifications, "look and feel," navigation, features and other elements of the software and/or the services or any part thereof for any reason and without limitation. You acknowledge that the services and/or the software are beta versions at the stage of development. Consequently, the services and/or the software may be unstable and may not work error free. We do not warrant that the functions contained in the services and/or the software will meet your requirements or that the operation of the services and/or the software will be uninterrupted or error free.
6.2. Technical Requirements
You are required to provide and maintain adequate technical means on which to install Our software and/or access Our services. These technical means must include at least a personal computer/mobile device/tablet, internet access by any means and telephone or other access line. Access to the internet is an essential feature and you shall be solely responsible for any fees necessary in order to connect to the internet. Furthermore, you are strictly and solely liable for the integrity and proper storage of any data associated with Our services since you will be using your personal computer to access Our services. By using Our services, you represent and warrant to Us that you have installed and implemented appropriate means of protection relating to the security and integrity of your computer and that you have taken appropriate action to protect your system from computer viruses or other similar harmful or inappropriate materials, devices, information or data. We will not be liable to you in the event that your computer system fails, damages, destroys and/or formats your records and data. Furthermore, if you incur delays and any other form of data integrity problems that are a result of your hardware configuration or mismanagement, We shall not be liable. You further undertake to protect Us from any wrongful transmissions of computer virus or other similarly harmful or inappropriate material or device to Our system from your personal computer.
6.3. Technical Problems and Difficulties.
We do not represent, warrant, guarantee or claim that you will be able to access or use Our service at all times and from any location. Moreover, if you are travelling to any country in which Our services may not be available or are blocked, you have limited or no access to Our services. Neither do We represent, warrant, claim or guarantee that Our services will be uninterrupted and error-free at all times. Furthermore, We make no warranties for merchantability or fitness for a particular purpose. As a provider of technology, We remind you that in some circumstances the use of the internet can at times be unreliable and at times you may experience trouble connecting, although it is now common practice that generally the use of the internet is now regarded to be very reliable. Notwithstanding, and recognizing the above, you hereby undertake that We will not be liable, and you will not hold or seek to hold Us or any of our officers, employees 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.
6.4. Disconnection Policy.
If you are suddenly disconnected from Our services whilst actively trading online, We will keep your positions open until you can re-establish your connection or trading ceases.
6.5. Maintenance Shut Downs.
At any given time, at Our sole discretion, We reserve the right to impose volume limits on customer accounts. Contract pay outs shall be determined by the Hybrid Stock Exchange by reference to the daily values reported on this website relevant to the interbank trading data received by the Hybrid Stock Exchange for Forex or derivative products quotes, subject to the provision that the Hybrid Stock Exchange shall have the right to make corrections to such data in the event of miss-priced or typographically incorrect data. We maintain Our continuing right to shut down Our operations and close Our services to Our customers at any time. We may do so at any given time, without notice. If We do so, We maintain the right to close all open transactions (regardless of any ongoing positions and profit margins) and to conclude the transactions at fair and exchange value quotes so that Our customers will not have any ongoing claims from Us.
7. PROHIBITED TRADING TECHNIQUES
7.1. Circumvention & Reverse Engineering.
You shall not unlawfully access or attempt to gain access, reverse engineer or otherwise circumvent any security measures that We have applied to Our system. If, at Our sole discretion, you are in breach of this clause, We may terminate your access to the service immediately and/or have your account blocked, and the Hybrid Stock Exchange may inform Interested Third Parties of your breach of this clause. We have, and will continue to develop any tools necessary to identify the fraudulent or unlawful use of Our service.
7.2. Artificial Intelligence Software.
It is absolutely prohibited to use any software, at Our sole discretion, which purpose is to apply any kind of artificial intelligence analysis to Our system relating to the use of Our service. In the event that We determine, at Our own discretion, that artificial intelligence software has been used, We reserve Our right to take action as We see fit, including completely blocking access to the service and/or terminating the user account. Hybrid Stock Exchange reserves the right to seize any profits and/or revenues generated directly or indirectly by exercising prohibited trading activity as described in this Clause.
7.3. Abusive trading technique.
Internet, connectivity delays and price feed errors sometimes create a situation where the prices displayed on the Hybrid Stock Exchange trading platforms do not actually reflect the exchange rates, either generally as a result of connectivity delays, upon the occurrence of an exchange event or abnormal trading conditions. Trading strategies aimed at exploiting errors in prices and/or concluding trades at off-exchange prices, or taking advantage of these internet delays (such a scalping or sniping), cannot exist in an OTC Exchange where the client is buying or selling directly from the exchange maker. Such trading strategies are not permissible on Our trading platform. If We can reasonably demonstrate that, based on your trading strategy or other behaviour, you deliberately and/or systematically exploited or attempted to exploit such errors in prices and/or off-exchange prices, We are entitled to take one or more of the following counter measures within 30 days as of the time We have identified such techniques:
(i) adjust the price spreads available to you;
(ii) restrict or delay your execution and/or your access to streaming, instantly tradable quotes, including, by providing manual quotations only;
(iii) reclaim from your account any historic trading profits that We can demonstrate to have been gained through such abuse at any time; and/or
(iv) terminate the account immediately by giving written notice. Any dispute arising from such quoting or execution errors will be resolved by the Hybrid Stock Exchange at its sole and absolute discretion.
8. CONFLICTS OF INTERESTS
8.1. We have established a comprehensive conflict of interest policy to identify and manage such actual or potential conflicts of interest. Under the International Rules, We are required to have in place arrangements with a view to taking all reasonable steps to prevent conflicts of interest constituting or giving rise to a material risk of damage to the interests of Our clients. Our conflict of interest policy is available upon request. Where We are unable to prevent a potential conflict of interest, We will notify you in writing about the nature and sources of potential conflicts of interest so that you can make an informed decision on the services or recommendations involved.
8.2. You accept and confirm that a conflict of interest may arise when the interest of the Hybrid Stock Exchange and its affiliates competes or may appear to compete with your interests under these Terms and Conditions.
8.3. Specifically you hereby acknowledge and confirm that:
8.3.1. We may assign or transfer the execution of your orders to another member of the Hybrid Group or companies;
8.3.2. We may, at the same time, execute orders by different customers that are opposite to one another;
8.3.3. We may establish business, including without limitation to, trading relationships with other issuers of financial instruments as well as having a financial interest in such instruments;
8.3.4. We act as an exchange maker and in this context there may be inherent conflicts of interest;
8.3.5. We may compensate and/or share Our revenues from your activity with Our affiliates, partners and/or other similar parties performing exchanging activities on Our behalf. For instance, for more information as to the compensation paid to Our affiliates, please see http://www.etoropartners.com/. You hereby further acknowledge that We also may compensate other users who you have elected to follow and/or copy (such as qualified Popular Investors).
You hereby acknowledge and understand that we do not collect any taxes for any government authority in any form or manner and you further understand that it is your own responsibility to calculate and pay all taxes applicable in your country of residence arising as a result of your trading activity on Our services. Notwithstanding the above and without derogating in any way from your sole, exclusive and personal obligation to pay taxes in your local jurisdiction, you unequivocally agree that We may withhold and deduct any taxes due under applicable law and regulations that may arise from the results of your investment on Our system. All amounts extracted from your account are "gross amounts", from which We may deduct any such taxes if necessary under the applicable law. In such an event, you shall have no claim towards the Hybrid Stock Exchange with regard to any such deductions.
9.2. Governing Law & Jurisdiction.
These Terms and Conditions shall be governed by and construed in accordance with the laws of the Republic of Vanuatu, notwithstanding any principles of conflicts of law. By using Our services, you agree to recognize all electronic and magnetic data and documentation as admissible evidence when settling a dispute regarding any trades and investments. The competent courts of law in Vanuatu shall have the sole and exclusive jurisdiction regarding any dispute or claim arising hereunder.
9.3. Termination of these Terms and Conditions
9.3.1. We reserve the right to terminate these Terms and Conditions, your account and registration (including your user-name and password) in the following cases:
18.104.22.168. If, for any reason, We decide to discontinue to provide the service, we will provide a 3 (three) calendar day notice at least (which may be provided by email, facsimile etc.);
22.214.171.124. If We believe that you have breached any of the terms of these Terms and Conditions, immediately without notice;
126.96.36.199. If your use of the service has been in any way improper or breaches the spirit of these Terms and Conditions; or
188.8.131.52. In the event of an application order, resolution or other announcement in relation to the bankruptcy or winding-up proceedings in which you are involved, termination will be immediate and without notice.
184.108.40.206. the death of the user, immediately without notice.
9.3.2. You may terminate these Terms and Conditions and your account and registration (including your user-name and password) at any time by sending an email for such termination to the Hybrid Stock Exchange Corporation, which shall occur within 7 calendar days after receipt of your email on Our servers, provided that you shall remain responsible for any activity on your account between the time of sending Us such email and the termination of your account by Us.
9.3.3. If these Terms and Conditions are terminated for any reason due to suspected misconduct by the user, the Hybrid Stock Exchange reserves the right to withhold any funds in the account until the matter is resolved. Any decision made by the Hybrid Stock Exchange regarding the matter will be final.
If any part of these Terms and Conditions is unlawful, void or determined to be unenforceable, that part will be deemed severable and will not affect the validity and enforceability of any remaining provisions.
9.3.5. Modifications to These Terms and Conditions.
No provision of these Terms and Conditions can be amended by yourself, in any respect, except in a writing by an officer of the Hybrid Stock Exchange that has been confirmed by the Hybrid Stock Exchange's secretary, and in entering into these Term and Conditions, you have not relied on, or been otherwise induced by, any matter not contained in such writing. For purposes of clarity, our customer support department employees are not authorized to amend or to waive the terms of these Terms and Conditions in any respect. We reserve the right to amend, revise, modify, and/or change these Terms and Conditions at any time.
Subject to applicable regulations, upon notice to you, eToro may assign these Terms and Conditions and/or any of Our rights and/or obligations hereunder to another registered or authorised or unauthorised investment professional.
9.7. Contact details and customer support services.
The Hybrid Stock Exchange Corporation is committed to provide the most professional customer support services: You are welcome to contact Us with any question and/or concern you may have in the following contact methods:
PLEASE PRINT A COPY OF THESE TERMS AND CONDITIONS FOR YOUR RECORDS.
END USER LICENSE AGREEMENT
HYBRID STOCK EXCHANGE CORPORATION
This is the end user license agreement that applies to the use of The Hybrid Group and its affiliates’ websites and trading platforms (the “Agreement”). If you have any objection to the terms and conditions stipulated hereto, do not use Our websites and trading platforms in any way. Downloading, installing, access to, use of this website and Our applications and trading platforms constitutes your acceptance of these Terms and Conditions and any other legal notices and statements contained on this website, Our platforms and/or Our applications. Your use of the Hybrid Stock Exchange websites, platforms and applications is governed by the version of this Agreement in effect on the date each Hybrid Stock Exchange website is accessed by you. Please feel free to contact Our customer support team at www.hybse.comfor any clarifications before you continue to use these websites and platforms.
Electronic Signatures and Agreement(s): You acknowledge and agree that by clicking on the ACCEPT button or similar buttons or links as may be designated by the Hybrid Stock Exchange to show your approval of any foregoing texts, the use of the services (as defined below), you are entering into a legally binding contract. You hereby agree to the use of electronic communication in order to enter into contracts, place orders and other records and to the electronic delivery of notices, policies and records of transactions initiated or completed through Our websites, applications and platforms. Furthermore, you hereby waive any rights or requirements under any laws or regulations in any jurisdiction which require an original (non-electronic) signature or delivery or retention of non-electronic records, to the extent permitted under applicable mandatory law.
1. Scope of Agreement
This Agreement applies to any of Our: (i) web pages, (ii) services, (iii) content, (iv) applications and platforms; (v) databases and (vi) information together with the software (collectively referred to as the “Services” and any software component therein, the “Software”) provided by the Hybrid Group (“Hybrid Stock Exchange” and collectively with its affiliates “Us”,“Our“ or "We").
The content and information included in these services are provided by The Hybrid Group. Carefully, read all the terms and conditions of this Agreement prior to the use of our websites and/or platforms and/or download and/or the installation of Our Software. If you (“You” or the “User“) do not agree to these terms and conditions, you may not install this Software and/or use Our Services, and/or do not commence the installation process and destroy any file relating to the Software in your possession. This Agreement may be updated by the Hybrid Group from time to time, without prior notice to the user. The use of the Services may be subjected to additional terms and conditions, which will be published by eToro Group Limited from time to time.
2.2. The Hybrid Stock Exchange hereby grants to you a non-exclusive and non-transferable license to use the Services. The Services may only be used for personal use. This does not include any use on a computer network. THE HYBRID STOCK EXCHANGE MAY TERMINATE THIS LICENSE, CANCEL THE USER’S PASSWORD AND/OR THE USER’S ACCOUNT (OR PART OF IT) IF YOU FAIL TO COMPLY WITH THE TERMS AND CONDITIONS SET FORTH ABOVE.
2.3. You may not: (i) modify, translate, reverse engineer, decompile, disassemble or create derivative works based on the Services and/or the Software; and/or (ii) loan, rent, lease, give, sub-license or otherwise transfer the Services and/or the Software (or any copy thereof) in whole or in part, to any other party; copy, alter, translate, decompile or reverse engineer the Software, including but not limited to, modify the Software in any way; (iii) remove, alter or cause not to be displayed, any trademarks, copyright notices or start-up messages contained in the programs and/or documentation.
3. Account User Information and User Security
In order to use the Services, you shall receive specific Account User Information. It is your responsibility to keep the Account User Information secret and you are responsible for all actions made using Your Account User Information. You agree: (a) to immediately notify Hybrid Stock Exchange of any unauthorized use of the Account User Information or of any other violation of security and (b) at the end of each use, to log out from your account in an orderly way.
4. Hybrid Stock Exchange Privacy Statement
This online privacy statement is intended to inform you of the ways in which this website (www.hybse.com) collects information, the uses to which that information will be put, and the ways in which We protect information you choose to provide Us with.
Please note that other Hybrid Stock Exchange websites may adopt different privacy practices as their specific needs require.
The use of this site is subject to all applicable state and federal laws, as well as general Financial policies.
4.1. Information Collected
This website collects two general types of information:
(a) information you voluntarily provide to Us, which may include personal information (such as your name, address, e-mail address, bank information, uploaded files etc.), and
(b) information We collect automatically when you visit this website through cookies, third party tracking technologies and server logs.
4.2. Information Voluntarily Provided by You
This website will only collect personal information that you knowingly and voluntarily provide, e.g. responding to surveys, completing membership forms, sending e-mails, bank information, uploaded files etc. It is this websites general practice to use personal information only for the purposes for which it was requested and any additional uses specifically stated on the website. However, information collected through this website may be subject to the Hybrid Stock Exchange obligation to respond to subpoenas, court orders, discovery requests, and requests for public records under the Freedom of Information Act. Furthermore, the disclosure of information collected through this website is subject to the provisions of the Family Educational Rights & Privacy Act.
Hybrid Stock Exchange may also access or permit access to information collected through this website in accordance with and subject to the limitations of the Hybrid Stock Exchange Acceptable User Policy for Information Technology Resources.
Although this website has security measures in place to protect personal information provided to Us by users, users should also take steps to protect personal information e.g. by closing all web browsers after using the website. Information disclosed in chat rooms, news groups, forums, message boards and similar contexts may become public. Users should therefore exercise caution before disclosing personal information in such contexts.
When you engage in financial transactions at Our website, you may be asked for a credit card number, bank information or similar information. Please do note that: all transactions are encrypted and the server that processes your credit card or bank information is secure (SSL). Such information may also be saved in an encrypted format or in internal systems that are protected by a firewall system. This website complies with the Payment Card Industry Data's Security Standards.
4.3. Updating Personal Information
You may correct, update, or remove the personal information provided to Us through the use of the website by submitting to the menu bar when you are logged in. Any request is to be made via the “TICKET SYSTEM” on the website.
4.4. Information We Collect Automatically
You have the option of disabling or not accepting cookies by changing the preferences on your browser. If you opt to disable cookies, you will still be able to use certain sections of Our website. However, you will not be able to use any parts of this website that require a login (e.g. accessing secured content, posting to message boards, etc.).
4.6. Third Party Tracking Technology
This website uses a tracking technology called Google Analytics to obtain website usage information such as users’ Internet Protocol (IP) addresses, Internet domain and host names, browser software, and the date and time that the website is visited. Data obtained through Google Analytics does not include and is not linked to any personal information. Data from Google Analytics allows Us to monitor the use of this website, understand how users find Our website and improve the websites function and content.
Our web servers routinely generate logs that contain the following types of information each time the website is used:
The date, time and length of your visit.
The path taken through Our website and the browser being used.
The list of files downloaded and the amount of time spent viewing video or audio files.
The IP Address of the computer accessing Our website.
Any errors encountered.
This information is used primarily to monitor the functioning and integrity of the website and other Hybrid Stock Exchange websites.
This website may contain links to other websites. Please be aware that We do not control or claim any responsibility for the privacy practices or content of such other websites. We encourage users to read the privacy statements of each website they visit.
Our users are given the opportunity to receive communication from Us. To remove your e-mail address from the technology list service, open a ticket in Our “TICKET SYSTEM” and include the following command line in the text of the message: UNSUBSCRIBE information and news to my email address: ([email protected]dress).
4.10. Changes to Privacy Statement
If We make changes to Our privacy statement, We will indicate this on Our home page in the privacy Statement
Neither the Hybrid Stock Exchange, nor any of its units, programs, employees, agents or individual trustees, shall be liable for any improper or incorrect use of information obtained through the use of this website.
By using this website you consent to the terms of this privacy statement.
4.13. Questions and feedback
Your questions, comments and concerns are always welcome. Please send Us your feedback regarding the privacy statement or any other issues via the “TICKET SYSTEM”.
5. User Conduct; Communications within the Hybrid Stock Exchange Community; Links to Third Party Websites, Newsletters, etc.
5.1. You shall not use the Information for any unlawful or unauthorized purpose. The use and interpretation of the Services requires skill and judgement, and you shall at all times exercise your own judgement in the use of the Services.
5.2. You agree not to use the Services in order to:
(i) disturb or damage the Services or the servers or the networks connected to the Services. The user must not ignore conditions, policies and/or regulations of networks which are connected to the Services
(ii) violate knowingly or consciously or even incidentally or involuntarily, any local, state, national or international law which applies to Our software.
5.3. By using the Services you acknowledge that you are well informed that the Hybrid Group does not perform any prior filtering of the content and/or financial information made available through the Services by third parties. Notwithstanding the aforementioned, the Hybrid Group and/or its agents, shall have the right to remove any content which violates this license conditions or which raises opposition in any other way.
5.4. You agree that it is up to you to evaluate the risks involved with the use of the Service, including the reliance upon accuracy, perfection and/or benefit of the content made available by the Service. And you agree that the risks with such use shall be on yourself.
5.5. Communications within the Hybrid Stock Exchange Community; Links to Third Party Websites, Newsletters, etc.
5.5.1. You acknowledge that you are responsible for any content, information and material that you submit or transmit through any of Our websites, applications and/or any network status/posts/blogs and any other communications and/or content options available by Us, including your responsibility as to the legality, reliability, appropriateness, originality and copyright of any such information or material. Additionally, you represent and warrant that: (i) you own all right title and interest in any content provided by you, and (ii) the posting of your content by Us (in any manner or media whatsoever, on an unrestricted basis) does not (and will not) violate the privacy rights, publicity rights, copyrights, contract rights or any other rights of any individual or make derogatory remarks regarding, defame or otherwise criticize any person or entity. You shall be solely liable for any damage resulting from any infringement or other violation of the copyrights, trademarks or other proprietary rights of any individual or entity, and for any other harm or losses resulting from any content.
5.5.2. In Our efforts to promote collegial, non-misleading and non-defamatory communications between the members of the Hybrid Stock Exchange OpenBook community, you are strictly prohibited from:
220.127.116.11. making statement as to your eligibility to provide investment advice, portfolio management and/or any other services and/or activity which may require a license, registration and/or notification in your state of residency and/or in the residency states of Our users;
18.104.22.168. making statements that the Hybrid Group and its affiliates endorse, maintain any control and/or guarantee the accuracy and/or completeness of the content published, posted or shared by you with other users;
22.214.171.124. making statements that are abusive, defamatory, harassing, and/or insulting statements to other users or otherwise;
126.96.36.199. making statements that advertise or promote any other online entities and/or your and/or any services;
188.8.131.52. making statements that contain sexually explicit content and/or any grossly offensive, including expressions of bigotry, racism, hatred or profanity or that is hateful, threatening or pornographic; incites violence or that contain nudity or graphic or gratuitous violence;
184.108.40.206. sending or otherwise posting unauthorized commercial communications (such as spam) on Our websites, applications and/or utilizing Our services;
220.127.116.11. collecting users’ content or information, or otherwise accessing Our websites and/or Services, using automated means (such as harvesting bots, robots, spiders, or scrapers);
18.104.22.168. engaging in unlawful multi-level exchanging, such as a pyramid scheme, on Our websites and/or using Our Services;
22.214.171.124. uploading viruses or other malicious code;
126.96.36.199. soliciting personal information and/or login information or access an account belonging to someone else;
188.8.131.52. using Our websites and/or Services to do anything unlawful, misleading, malicious, or discriminatory;
184.108.40.206. doing anything that could disable, overburden, or impair the proper working of eToro, such as a denial of service attack and/or facilitate or encourage any violations of these Terms and Conditions. All unsubstantiated performance claims may be removed from any of Our websites. If you violate the above, We reserve the right to terminate your account and registration on Our Services. If your account and registration are terminated due to the above misuse, We will refund any funds which may be in your account.
5.5.3. Leading traders may be subject to additional rules of conduct and restrictions relating to their content or trading activity which may be imposed by Us from time to time either generally or as a part of specified promotions. If you have been qualified as a “Popular Investor” or a 'leading trader' please contact your account manager to receive further information with respect to any such restrictions which may be applicable to you.
5.5.4. We do not undertake to review and monitor all the content and We do not in any manner endorse, support, sanction, encourage, verify or agree with any such content. We reserve the right to review, monitor, revise and/or remove any such content in any way We see fit in Our sole discretion. You acknowledge that We may report to government authorities any actions that may be considered illegal and/or which may be required by such authorities. When requested, We may cooperate with government authorities in any investigation of alleged illegal activity. You further confirm and acknowledge that We may also maintain records of all such content.
5.5.5. At certain times, We may provide you with various analytical tools (such as exchange data, price quotes, exchange rates, news, headlines and graphs), links to other websites, circulate newsletter and/or provide you with third parties’ information for your convenience. By doing so, We are not endorsing, giving any representation, warranting, guaranteeing or sponsoring the accuracy, correctness, timeliness, completeness, suitability of such information for you and/or as to the effect or consequences of such information on you. Such information and tools are provided solely to assist you to make your own investment decisions and does not amount to investment advice or unsolicited financial promotions to you. It is important to make a distinction between indicative prices which are displayed on charts and dealable prices which are displayed on our trading platform. Indicative quotes only give an indication of where the exchange is. Because foreign exchange trading is decentralized, meaning it lacks a single central exchange where all transactions are conducted, each exchange maker may quote different prices. Therefore, any prices displayed on any chart made available by Us or by a third party will only reflect “indicative” prices and not necessarily actual “dealing” prices where trades can be executed. You understand that We are not obligated to continue to provide the above mentioned tools and information and We may remove such informational tools from Our website at any time. Furthermore, We are not obligated to update the information displayed on Our website at any time and We will not be liable for the termination, interruption, delay or inaccuracy of any exchange information. The financial information We post on Our website is provided by third parties for the benefit or Our users and as such, you undertake not to enable deep linking or any other form of redistribution or reuse of the information, to any non-authorized users. As such, We urge you to read and fully understand the terms and conditions and other policies of such websites, newsletters and information before using them. Any information or material placed on Our websites by third parties reflects solely and exclusively the views, and are the responsibility of, those who post such information or material, and do not represent the views of the Hybrid Group and/or its affiliates. Such information is not to be considered as constituting a track record. Past performance is no guarantee of future results and We specifically advise clients and prospects to carefully review all claims and representations made by other traders, advisors ,bloggers, money managers and system vendors before making an investment decision on the basis of any of the foregoing. UNDER NO CIRCUMSTANCES SHALL HYBRID STOCK EXCHANGE AND/OR ITS AFFILIATES BE LIABLE, DIRECTLY OR INDIRECTLY, TO ANYONE FOR ANY DAMAGE OR LOSS ARISING FROM OR RELATING TO ANY USE, CONTINUED USE OR RELIANCE ON ANY SUCH TOOLS, WEBSITES, NEWSLETTERS AND/OR INFORMATION.
5.5.6. The Hybrid Stock Exchange, Our officers, principals, employees or agents shall not be liable to any person for any losses, damages, costs or expenses (including, but not limited to, loss of profits, loss of use, direct, indirect, incidental or consequential damages) resulting from any errors in, omissions of or alterations to any information and/or content. The foregoing shall apply regardless of whether a claim arises in contract, tort, delict, negligence and/or strict liability otherwise.
5.5.7. Risks Associated with Social Trading: The Hybrid Stock Exchange and its affiliates are proud to provide you with the ability to interact, follow and copy other traders by using Information and/or social trading features provided and/or made available on Our websites and/or trading platforms. Such social trading features include but are not limited to the Hybrid Stock Exchange Open Book, “follow”, “copy” and/or “copy-trader” traders rankings, “featured users” and/or any advanced search options, etc. (collectively, “Social Trading Features”). However, We note that Social Trading Features are associated with various risks and you are urged to carefully read and consider the following risks before utilising either of Our Social Trading Features:
5.5.8. The Hybrid Group, its affiliates, their employees and agents are not investment or financial advisers. Social Trading Features are provided by Us solely for informational purposes.
IF YOU MAKE INVESTMENT DECISIONS IN RELIANCE ON INFORMATION WHICH IS AVAILABLE ON OUR WEBSITES OR AS A RESULT OF THE USE OF THE SOCIAL TRADING FEATURES, YOU DO SO AT YOUR OWN RISK AND THE HYBRID STOCK EXCHANGE, ITS AFFILIATES, THEIR EMPLOYEES AND ITS AGENTS WILL NOT BE LIABLE FOR ANY LOSSES THAT YOU MAY SUSTAIN. YOU SHOULD NOT MAKE ANY INVESTMENT DECISIONS WITHOUT FIRST CONDUCTING YOUR OWN RESEARCH. YOU ARE SOLELY AND EXCLUSIVELY RESPONSIBLE FOR DETERMINING WHETHER ANY INVESTMENT, OR STRATEGY, OR ANY OTHER PRODUCT OR SERVICE IS APPROPRIATE OR SUITABLE FOR YOU BASED ON YOUR INVESTMENT OBJECTIVES AND PERSONAL AND FINANCIAL SITUATION.
5.5.9. A copied trader’s position (with respect to any of Our financial instruments) shall be copied using the lower of either the minimum position amount or with the same proportional amount and with the same leverage, to the maximum extent possible. All such positions shall be closed automatically if closed by the copied trader and/or if the copied trader’s positions were automatically closed by Us, for whatsoever reason, without providing any further notice and without any action on your part. You should be able and prepared to bear the loss of the entire investment you made in such a copied trader. You are fully responsible for any losses you may sustain as a result of Our automatic execution of instructions generated as a result of the utilization of any of the Social Trading Features.
5.5.10. If you place additional trades in your account or you modify or cancel an order generated by a Social Trading Feature, you may achieve a materially different result than the user that you copied. Changing a copied position shall cause its disconnection from the original position. Such disconnected positions shall not be automatically closed or changed when the original position is changed or closed.
5.5.11. Any past performance of our users indicated on Our websites is not indicative of future results and should be considered as hypothetical as more fully described below. It is important to understand that historical performance is not a guarantee of future performance. When reviewing the content, portfolio, financial performance information, opinions or advice of another registered user, you should not assume that the user is unbiased, independent or qualified to provide financial information or advice.
5.5.12. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS. NO REPRESENTATION OR GUARANTEE IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN AND MAY NOT TAKE INTO ACCOUNT FEES, SPREADS AND/OR TRADING COMMISSIONS THAT MAY BE CHARGED. THE ACTUAL PERCENTAGE OF GAINS/LOSSES EXPERIENCED BY INVESTORS WILL VARY DEPENDING ON MANY FACTORS, INCLUDING BUT NOT LIMITED TO: STARTING ACCOUNT BALANCES (DEPOSITS AND WITHDRAWALS) EXCHANGE BEHAVIOUR, THE INVESTOR’S ACCOUNT SETTINGS AND THE PERFORMANCE OF THE COPIED USER. BECAUSE OF THIS, ACTUAL PERCENTAGE OF GAINS/LOSSES EXPERIENCED BY INVESTORS MAY BE MATERIALLY DIFFERENT THAN THE PERCENTAGE OF GAINS/LOSSES AS PRESENTED ON THIS WEBSITE. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE EXCHANGES IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.
5.5.13. NO ASPECT OF THE INFORMATION AND/OR SOCIAL TRADING FEATURE PROVIDED AND/OR MADE AVAILABLE ON OUR WEBSITES IS INTENDED TO PROVIDE, OR SHOULD BE CONSTRUED AS PROVIDING, ANY INVESTMENT, TAX OR OTHER FINANCIAL RELATED ADVICE OF ANY KIND. YOU SHOULD NOT CONSIDER ANY SUCH CONTENT AND/OR ANY SUCH FEATURE TO BE A SUBSTITUTE FOR PROFESSIONAL FINANCIAL ADVICE. IF YOU CHOOSE TO ENGAGE IN TRANSACTIONS BASED ON CONTENT ON THE WEBSITE AND/OR ELECT TO COPY SPECIFIC TRADERS AND/OR TRADES, THEN SUCH DECISIONS AND TRANSACTIONS AND ANY CONSEQUENCES FLOWING THEREFROM ARE YOUR SOLE RESPONSIBILITY. WHILE INDIVIDUAL PARTICIPANTS MAY OFFER INVESTMENT ADVICE OR OPINIONS AND/OR EFFECT A TRANSACTION WHICH MAY BE SUBSEQUENTLY COPIED BY OTHER TRADERS, SUCH ADVICE, OPINIONS OR TRADES AMOUNT TO NOTHING MORE THAN EXCHANGES BETWEEN PERSONS WHO MAY BE ANONYMOUS OR UNIDENTIFIABLE OR SIMPLY THE EXECUTION OF A TRADE BY SUCH TRADERS. THE HYBRID GROUP AND ITS AFFILIATES DO NOT PROVIDE INVESTMENT ADVICE DIRECTLY, INDIRECTLY, IMPLICITLY, OR IN ANY MANNER WHATSOEVER BY MAKING SUCH INFORMATION AND/OR FEATURES AVAILABLE TO YOU. YOU SHOULD USE ANY INFORMATION GATHERED FROM HERE AND/OR UTILIZE THE SOCIAL TRADING FEATURES ONLY AS A STARTING POINT FOR YOUR OWN INDEPENDENT RESEARCH AND INVESTMENT DECISION MAKING.
6. Intellectual Property
The use of the Hybrid Stock Exchange Services and/or Software does not grant you any rights other than those granted to you by revocable licenses in any way. We own all the images displayed on Our website and software. You may not use these images in any way other than the manner which We provide them. Should you wish to use any of Our images for any other purpose, you must obtain prior written consent from Us in advance. Nothing contained on Our websites shall be construed as granting, by implication or otherwise, any license or right to use any trademark without Our written permission or such third party that may own the trademarks. All our intellectual property assets, including but limited to, all copyrights, trademarks, patents, software code, icons, logos, service marks, trade names, characters, layouts, trade secrets, buttons, colour scheme and graphics are our sole and exclusive IP and are all protected by local and international intellectual property laws and treaties including all copyright laws and regulations. You shall respect all such proprietary rights and unless you were given an explicit permission by the Hybrid Stock Exchange, You shall not use the Services, or any other information or the Software for any purpose, other than personal ordinary purposes, and you shall not change, sell and/or distribute Our Services and/or create any products based on Our Services, or on part of it, without Our prior written consent. Under no circumstances shall you remove any copyright notification from any of Our IP or unlawfully use Our downloadable software. Except as expressly stated herein, you may not without Our prior written permission alter, modify, reproduce, distribute or commercially exploit any materials, including text, graphics, video, audio, software code, user interface design or logos, from this or any of Our websites. If you link from another website to one or more of Our websites, your website, as well as the link itself, may not, without Our prior written permission, suggest that We endorse, sponsor or are affiliated with any non-Hybrid Stock Exchange website, entity, service or product, and may not make use of any of our IP other than those contained within the text of the link.
7. Disclaimer of Warranties; Limitation of Liability
The Hybrid Group expressly disclaims all warranties of any kind, express or implied. The services and/or the software are provided “as-is”, and the Hybrid Group and/or any third-party information provider provides the services without accepting any responsibility for accuracy and correctness. By using the services and/or the software you agree that errors and/or omissions contained in such information shall not be made the basis for any claim, demand or cause of action against the Hybrid Group. The services and the Software should be used with knowledge and skill not withstanding any particular user’s investment objectives, financial situation, or means, and the Hybrid Group is not soliciting any action based upon it. The Hybrid Group does not recommend any form of financial transaction; or solicit to enter into any financial transaction, financial engagement; or otherwise encourage you to follow any specific trading strategy in any jurisdiction in which such an offer or solicitation, or trading strategy would be illegal. You acknowledge that the services and/or the software are beta versions at the stage of development. Consequentially, the services and/or the software are unstable and may not work error free. We do not warrant that the functions contained in the services and/or the software will meet your requirements or that the operation of the services and/or the software will be uninterrupted or error free. Moreover, We reserve the right, at any time and for any reason, to discontinue, redesign, modify, enhance, change, patch the software and/or the services including and not limited to the structure, specifications, "look and feel," navigation, features and other elements of the Software and/or the Services or any part thereof.
The entire risk as to the quality and performance of the services and/or the software is with you.
THE HYBRID GROUP AND/OR ANY THIRD-PARTY SUPPLIER EXPRESSLY DISCLAIM ANY AND ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION TO, WARRANTIES OF SATISFACTORY QUALITY AND FITNESS FOR A PARTICULAR PURPOSE, WITH RESPECT TO THE SERVICES AND/OR THE SOFTWARE OR ANY USE THEREOF. UNDER NO CIRCUMSTANCES SHALL EITHER OF THEM BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES OF ANY KIND WHATSOEVER WITH RESPECT TO THE APPLICATION AND THE USE THEREOF. YOU HEREBY SPECIFICALLY AGREE AND ACKNOWLEDGE THAT THE ABOVE WARRANTY IS EXHAUSTIVE, AND IS IN LIEU OF ANY OTHER WARRANTY, EXPRESS OR IMPLIED. IN NO EVENT SHALL THE HYBRID GROUP AND/OR ANY THIRD-PARTY SUPPLIER OR THEIR DIRECTORS, OFFICERS, EMPLOYEES, CONTRACTORS AND AGENTS BE LIABLE FOR LOST PROFITS, LOST SALES, LOST BUSINESS, LOST OPPORTUNITY, LOST INFORMATION, LOST OR WASTED TIME OR ANY SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING NEGLIGENCE) ARISING OUT OF, OR WITH RESPECT TO THE SERVICES AND/OR THE SOFTWARE AND THE USE THEREOF.
Our failure or neglect to perform or enforce any of any rights or conditions under this Agreement and the general Terms and Conditions shall not be considered as a waiver of such a right or condition. Should any provision of these Terms and Conditions be held to be void, invalid or inoperative, the remaining provisions of these Terms and Conditions shall not be affected and shall continue in effect. In addition, if any particular provision contained in this Agreement and/or the general Terms and Conditions shall, for any reason, be held to be excessively broad with regard to time, geographic scope or activity, the term shall be construed in a manner to enable it to be enforced to the extent compatible with applicable law.
You acknowledge that you have read and understood these Terms and Conditions and agree to be bound by its terms and conditions.
10. Governing Law and Forum Selection
The validity of these Terms and Conditions and the rights, obligations and relations of the parties shall be construed and determined in accordance with the laws of the Republic of Vanuatu. You acknowledge that any action or suit brought to enforce any right or remedy of these Terms and Conditions shall be subject to the exclusive jurisdiction of the Republic of Vanuatu.