Please review this document carefully before using the services available on worldemiratescapitalmarkets.com This Terms of Service Agreement (this “Agreement”) states the terms and conditions upon which (herein “the Company”, “WECM,” “we” or “us”), will provide services to you on the worldemiratescapitalmarkets.com (herein the “Service”). These Terms constitute a contractual agreement between you (the Client) and us. By visiting, accessing, using, joining and/or participating in (herein collectively “using”) the Service, you express your understanding and acceptance of these Terms. As used in this document, the terms “the Client”, “you” or “your” refers to you, any entity you represent, your representatives, successors, appointees and affiliates, and any of your or their devices. If you do not agree to be bound by these Terms, cease using the Service of the Company immediately and inform us about your disagreement. Eligibility You must be over eighteen (18) years of age to use the Service, unless the age of consent in your jurisdiction is over eighteen (18) years of age, in which case you must be at least the age of consent in your jurisdiction. You acknowledge and guarantee that you are at least the minimum age of consent coinciding with the given clause. We reserve the right to ask you for proof of age and your account may be suspended until satisfactory proof of age is received. Use of the Service is not permitted where prohibited and you acknowledge that you are not otherwise prohibited to use the Service. Use of the Service is not permitted if you are a politically exposed person (PEP). By using the Service you declare that you are not PEP. You acknowledge and are fully aware that your ability to access the Service does not necessarily mean that you are eligible to use the Service. Grant of Use; Termination We grant you a non-exclusive, non-transferable, limited right to access, non-publicly display, and use the Service, including all content and services available therein (the “Content”), on your computer consistent with this Agreement (the “Grant”). The Grant is terminable (including a partial termination or limitation) by us at will for any reason and at our sole discretion, with or without prior notice.
Upon termination we may, but shall not be obligated to: (i) delete or deactivate your Account (as defined below), (ii) block your e-mail and/or IP addresses or otherwise terminate your use of the Service, and/or (iii) take any other action to prevent your use of the Service. You may also terminate your participation in the Service by providing notice to us at any time. Upon termination for any reason, the grant of your right to use the Service shall be terminated, but all other portions of this Agreement will be maintained. Pursuant to the terms herein, and without limiting the terms of further identification and limitations of liability terms herein, you acknowledge that we are not responsible to you or any third party for losses incurred in the case of termination of the Grant. Provision of services section. Termination of use of the services. Granting right to use the Company’s services may be terminated at the Company’s request in the event of the following circumstances:
You must create an account on the Service (an “Account”) to use Service of the Company. By this Agreement you represent and warrant that all information that you provide to us in creating your Account is complete and accurate. You shall update such information when it changes or at the Company’s request. The client acquires the right to use the Service immediately upon confirmation of the client’s e-mail address. By creating an Account on behalf of a company or other entity, you represent and warrant that you have the authority and capacity to enter into this Agreement and bind the entity on its behalf. You shall not use another person or entity’s Account without authorization. You shall be solely responsible for maintaining the confidentiality of and restricted access to your Account. You shall be solely responsible for all activities that occur under your Account. You shall notify us immediately of any breach of security or unauthorized use of your Account. Pursuant to the terms herein, and without limiting the terms of the further indemnification and limitations of liability terms herein, the Company shall not be liable for any losses resulting from any unauthorized use of your Account and you hereby indemnify us and hold us harmless for any such unauthorized use. You may only have one Account. You may not share an Account with any other person or entity. If you wish to open more trading accounts you should contact your personal manager. If the Company have reasonable grounds that an Account have been opened with the intention to fraud or/and multiply accounts have been created without approve of account manager, the Company reserve the right to cancel any transaction related to that Account You authorize the Company, directly or through third parties, to make, at any time, any inquiries we consider necessary to validate your identity. This may include asking you for further information, requiring you to provide personal information and other information that will allow us to reasonably identify you, requiring you to take steps to confirm ownership of your email address or financial instruments, or verifying your information against third party databases or through other sources. We may also request to see your passport or other identifying documents at any time. The Service allows you, inter alia, to engage in transactions based on certain assets, including currencies, financial instruments that defined as CFD’s (contracts for difference) and other securities. You acknowledge and understand that you engage in every action, omission, purchase, sale, trade or other transaction (collectively, “Transactions”) on the market as a principal and that we do not act as your agent on the Service in any financial or trading operations. You acknowledge that you are directly and fully responsible for fulfilling all your obligations regarding your Transactions on the market carried out with the help of the Service of the Company. After the completion of all security and identification procedures associated with the Service, we will grant you with the access to the Service unless agreed or stated otherwise. All references to our hours of trading are in Greenwich Mean Time (“GMT”) using 24-hour format. Our Service will normally be available continuously around the clock, excluding public holidays where the financial markets do not operate and cases where the market is closed due to no liquidity in the financial instruments. Please, check our website for more details on operating times for each financial instrument in every period of time. We reserve the right to suspend or modify the operating hours on our own discretion and on such event our website will be updated in order to inform you accordingly. The Clients have the possibility to execute trading operations on the phone during the trading hours. You understand and acknowledge that the Company can close transactions for contracts for difference using the last available price on the market on the day, when the contract expires. The closing time is specified on the Company’s website. The Company offers its Clients different types of spreads according to the type of the account. The Company offers a fixed spread on the web platform. The fixed spread changes depending on time and market conditions. You acknowledge that the minimal timeframe for manual execution of the transaction: on a web platform, it’s 60 minutes. We reserve the right to cancel transactions in cases where the time between opening a transaction and closing it was less than 60 minutes. The thresholds of minimum and maximum sizes of lots depend on the type of the account, as specified in the web-site of the Company. We reserve a right to change the thresholds of minimum and maximum sizes of lots in our sole discretion. YOU UNDERSTAND AND ACKNOWLEDGE THAT YOU MAY LOSE MONEY, AS A RESULT OF YOUR USE OF THE SERVICE (INCLUDING AS A RESULT OF YOUR EXECUTION OF TRANSACTIONS) AND THAT YOU TAKE SOLE RESPONSIBILITY FOR SUCH LOSSES. Your use of the Service is strictly limited by the terms of this Agreement (including any documents referenced or incorporated herein) and the technical limitations placed on the Service. The Service carries out your Transactions on an execution-only basis. We and the Service are entitled to execute your Transactions even if the Transaction is not beneficial to you. We may help manage your Transactions, or will we advise you on your Transactions. You understand and acknowledge that we assume no responsibility whatsoever for your Transactions. You understand and acknowledge that we assume no responsibility whatsoever for monitoring your Transactions. If at any time we choose, in our sole discretion, to monitor your Transactions for any reason, we assume no responsibility for your Transactions and have no obligation to advise you regarding your Transactions. Without limiting the foregoing, we are under no obligation to make margin calls. Customers are given the opportunity to perform trading operations on the phone during trading hours. To execute trading operations over the phone, Company’s employees may provide technical assistance to Clients in the opening/closing / changing parameters of transactions (take profit, stop loss) on behalf of Clients on the phone. If customers do not agree with the use of the Service of the Company, they may notify the Company or not to use this Service. In order to open / close / change transaction or request setting the order, the Customer must contact the Customer Support department (personal manager). The Client also has the right to ask the Company for obtaining the regular technical assistance in opening/closing / changing transactions using the phone. In this case, the Company’s account manager performs regular telephone communication with the Client in order to facilitate the Customer in performing transactions. Before entering into transactions by phone the margin balance required to open a trade should be checked. In order to ensure the quality of service, telephone calls can be recorded. You agree that all communications between you and Company’s staff will be recorded without preliminary notice. You acknowledge that these records and the results of their transcription can be used as evidence in case of disputes. The Client agrees that the remote method of opening / closing / changing transactions from the date of receipt of the command / Client’s consent to the opening / closing / changing transactions may be fluctuations in the rate of the asset. The Client accepts these terms and undertakes not to have any claims on such fluctuations in the case of a remote method of opening / closing / changing transactions. Confirmation of execution of the Client’s instructions when opening / closing / changing transactions for the Company will be the agreement on the method of opening / closing / changing transactions, expressed through the adoption of the terms of this Agreement, as well as recording a phone conversation with the Client. The use described herein of a method of performing trading operations does not lead to the conclusion by the Company and the Client any separate contract, including the contract of trust management, etc. All trading operations performed using technical assistance from the Company are made by the Client and at the Client’s discretion. The Company, as in all other cases, is not responsible for the results of these transactions. The calculation of the prices, payouts or losses related to Transactions at the time the Transaction is opened and closed will be based on our estimate of actual market prices and the expected level of interest rates, implied volatilities and other market conditions during the life of the Transaction. These values are based on complex arithmetic calculations as determined by us in our sole discretion. These calculations include a spread in favor of us, which means that the values involved may differ substantially from prices available on primary markets where similar transactions are conducted. We do not support physical delivery of currency (or any other securities) in the settlement of any Transactions. Any gains or losses you experience as a result of a Transaction will be deposit to or withdrawn from your Account after your Transaction has been completed. You acknowledge and agree that in the event that any Transaction is completed at prices that do not reflect actual market prices due to any reason, including an undetected programming error or glitch or any other reason which results in a mispricing, we reserve the right to cancel or roll-back such Transactions. Restrictions on Use of the Service and Transactions. You, your Transactions and your use of the Service must satisfy all of the following terms, conditions and restrictions, as well as the other terms, conditions and restrictions contained in this Agreement, in order to qualify for use and continued use of the Service (“User Restrictions”): You may not cheat, defraud, or mislead us in any manner. You may not use the Service in any manner we have not explicitly approved and intended for your use. You may not disable, circumvent, or otherwise interfere with security-related features of the Service, or those that enforce limitations on the use of the Service. You may not use the Service for any illegal activities. You may not deposit or otherwise transfer any funds which have originated from any illegal activities into the Service and/or your Account. In conjunction with your use of the Service,
You may not use any software viruses or any computer code, file or program designed to interrupt, destroy, limit or monitor the functionality of any computer software, hardware or telecommunications equipment in conjunction with your use of the Service. You may not use the Service in any way that may expose us to criminal or civil liability in any jurisdiction. You may not take any action that imposes, or may impose, in our sole discretion, an unreasonable or disproportionately large load on our technology infrastructure or otherwise make excessive demands on it. You may not use any automated means, including robots, crawlers, or data mining tools to monitor or use the Service or to make Transactions. If it discovered that a transaction is or has been executed by a trading robot or any automatic software, we will consider this grounds for termination of the Agreement and cancel the requested transaction. You may not “deep-link” to any part of the Service. You may not resell or permit access to the Service to any third party. You may not copy any material made accessible by the Service for resale or for any other purpose other than your own use of the Service.
You may use the information acquired on the Service for the sole purpose of executing Transactions on the Service. You may not use the Service for any purpose which may be tortuous, abusive, intrusive of another’s privacy, harassing, libelous, defamatory, obscene, threatening, hateful or otherwise inappropriate, unlawful or criminal. You may not furnish any false or incorrect data or information in connection with the Service. You must maintain all information found on the Service or that you have otherwise provided to us correct and up-to-date at all times. You may not harass us, our employees, independent contractors or other agents in any manner.
You agree and acknowledge that we may use both manual and automated methods to ensure your compliance with the User Restrictions. We retain the sole right, in our discretion, to determine whether you have complied with the User Restrictions. If we become aware of a possible violation of the User Restrictions or any other violation of this Agreement, we may initiate an investigation into the possible violation that may include gathering information on you, any complaining party and any other material or information which we find to be reliable in our sole discretion. You agree to comply with all reasonable requests by us pursuant to our investigation of violations.
No employee and/or former employee who currently works or used to work on a full time or part time basis for us or any of our related entities shall, during the term of the employee and/or former employee’s work with us, or any of our related entities and after termination of service become a client of any of our brands (either directly or indirectly, alone or with partners, associates, affiliates or any other third party) without our prior written approval. Should we establish that the employee and/or former employee is trading personally and/ or via a third party with any brand of the Company without our prior written approval we shall consider all the trading to be abusive and/or inappropriate. In such an event, the employee and/or former employee’s trading account(s) and all open positions shall be closed immediately and any funds held within the account shall be confiscated.
We reserve the right to take appropriate action against you for any breach of the Use Restrictions or other unauthorized use of the Service, including civil, criminal and injunctive redress in addition to termination of the Grant. Any use of our computer systems not explicitly authorized by this Agreement is a violation of this Agreement and certain domestic, foreign and international laws. We reserve the right to cancel, roll-back and/or close any Transactions which we determine, in our sole discretion, to be made in violation of this Agreement (including User Restrictions). Without limiting the foregoing, if we believe that you have made repeated Transactions in violation of this Agreement (including User Restrictions), we may cancel, roll-back and/or close all your Transactions.
We retain a separate Privacy Policy, which is incorporated herein by reference, and your assent to this Agreement also signifies your assent to the Privacy Policy. We reserve the right to amend the Privacy Policy at any time by posting such amendments to the Service. No other notification may be made to you about any amendments, so periodically check the Privacy Policy for changes. Your continued use of the Service following such amendments will constitute your acceptance of such amendments, regardless of whether you have actually read them. The Client gives consent to process his/her personal data. The processing of the Personal Data shall be construed as the Company’s actions/operations with the personal data, including the collection, systematization, accumulation, storage, clarification/updating/modification, use, distribution (inclusive of transfer), depersonalization, blocking and destruction of any personal data and a right of publication the personal data in publicly-accessible way. The consent is giving of the Client’s own free will and in his/her interest. The consent is giving for the purposes of Company. The following information recognized as generally accessible personal data: surname, first name, date of birth, where the subject of personal data is permanently living, and the other information relating to the identity of the subject of personal data. The Client understands the content of actions for processing of personal data and the necessity of its realization and knows the right to abandon an action of consenting. This consent is in force from the day of acceptance by the Client of the present Agreement and up to the day of the abandonment of consenting. Email and SMS newsletter agreement You agree to receive the information from the Company in the form of e-mails, phone calls and sms to the phone number that you have transferred us. You can unsubscribe from the information from the Company at any time by sending an e-mail info worldemiratescapitalmarkets.com or contacting to your personal manager.
You agree and acknowledge that all conversations between you and the Company staff may be recorded without a previous warning. You agree and acknowledge that these recordings and the transcriptions could be used as an evidence in any further dispute. Risk Statement You acknowledge and understand that your use of the Service, including the execution of any Transactions, is at your own risk. Without limiting the foregoing, you acknowledge and accept the high level of risk inherent in the use of the Service and as set out in the “Risk Statement”, which is incorporated herein by reference. Your acceptance of and assent to this Agreement also signifies your assent to the Risk Statement and all its terms. You understand that currency market trading carries risks of loss. We ask you to responsibly assess whether these risks are acceptable to you. By accepting this Agreement, you confirm that you have studied these risks, assessed the possible consequences of your actions, and fully accept these risks. Limitation of Liability and Disclaimer of Warranties
Under no circumstances will we be liable for direct, indirect, incidental, special, consequential or exemplary damages resulting from any aspect of your use of the service, whether such damages arise from:
The Company is not responsible for the results of use by the Client of customer services, products and information of third parties, presented or advertised in connection with the Service of the Company. In the event that you are involved in a dispute with any third parties, you hereby release us, our officers, employees, agents and successors-in-right from claims, demands and damages (actual and consequential) of every kind or nature, known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or in any way related to such disputes and/or the Service. You expressly agree that your use of the Service is at your sole and exclusive risk. The Service is provided “AS-IS” and without any warranty or condition, express, implied or statutory. Some jurisdictions do not allow certain limitations of liability or disclaimer under this Agreement. In such cases, the Company operates in accordance with the laws and regulatory requirements of those jurisdictions. Dispute Resolution At WECM we take customers’ complaints very seriously. If you have any complaint in relation to the services provided to you, you should inform us immediately. Set out below are the procedures for the handling of complaints and disputes with respect to the services provided by WECM. How to submit a complaint The complaints should be communicated in writing to the personal manager, assigned to the account subject to the complaint. A copy of the complaint should be sent to our email address: info@worldemiratescapitalmarkets.com