Note: This Retail Client Agreement is drawn up in the English language. In the event any translation of this Retail Client Agreement is prepared for convenience or any other purpose, or there is any conflict between the English version and any subsequent translation into any other language, the provisions of the English version shall prevail.
This Retail Client Agreement, along with any additional terms or policies incorporated herein by reference, as amended from time to time, (hereinafter the “Agreement”) sets out the terms under which all business dealings shall be transacted between the customer (“You”, “Client”) and us, SwipeFX LLC, having its registered address at First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines (hereinafter referred to as the “Company”).
For Your benefit and protection, we strongly recommend that You take sufficient time to read the Agreement together with other policies and agreements available via https://SWIPEFX.com/ (the “Site”) carefully prior to accepting the Agreement, and/or opening a trading account, and/or performing any transactions.
If You do not accept this Agreement, please refrain from using the Site, and/or Mobile Apps, and/or opening an account. Your use of the Site, and/or Mobile Apps constitutes acceptance of this Agreement.
SwipeFX LLC - First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines.
1.1. Unless otherwise provided in this Agreement, the following terms shall have the following meanings:
“Account” means an account opened by Client with the Company for trading.
“Dormant Account” means Client’s Account where Client has not initiated any transaction for a period of three (3) months.
“FATCA” is an abbreviation for the Foreign Account Tax Compliance Act.
“Mobile Apps” mean mobile apps available for Android and iOS in order to optimize the use of the Services on a smartphone or tablet.
“Transaction” means any type of transaction performed by Client in the Account, including but not limited to buy and sell transactions related to financial instruments, deposits and withdrawals.
“Services” means the services provided to Client by the Company.
“Site” means the website of the Company, http://www.SWIPEFX.com
“US Reportable Person” means:
Any trust if:
1.2. For purposes of this Agreement:
1.3. Unless the context otherwise requires, references herein:
1.4. Headings of the Articles shall be used solely for reference and shall not affect the content and interpretation of this Agreement.
1.5. Unless the context otherwise requires, when used herein, the singular shall include the plural, the plural shall include the singular, and all nouns, pronouns and any variations thereof shall be deemed to refer to masculine, feminine or neuter, as the identity of the person or persons may require.
Scope of this Agreement
2.1. This Agreement sets out the terms under which all business dealings shall be transacted between Client and the Company. This Agreement governs every Transaction entered into or pending between the Company and Client upon acceptance of this Agreement by Client.
2.2. As of June 30, 2020 the Site is operated by SwipeFX LLC and all Clients' Transactions are processed and executed in accordance with the laws of Saint Vincent and the Grenadines.
2.3. The Company does not provide services to citizens and/or residents of the USA, Canada, Bangladesh, member states of the European Union, Switzerland, Israel, New Zealand, Australia, North Korea, Puerto Rico, Yemen, and Sudan.
2.4. By accepting this Agreement, Client represents and warrants that Client is neither citizen nor resident of any of the above listed countries.
2.5. This Agreement shall come into force on the date of its acceptance by Client.
2.6. This Agreement constitutes the entire agreement and understanding between the Company and Client and supersedes any and all prior and contemporaneous negotiations and understandings between the Company and Client either oral or written, expressed or implied.
2.7. The Company reserves the right to modify or update any provision of this Agreement at any time for any reason and any such changes to this Agreement will supersede and replace any previous provisions of this Agreement effective immediately upon posting on the Site.
2.8. It is your responsibility to periodically review this Agreement for any changes made. The applicable version at any time shall be the latest version available on the Site. You expressly agree that in case of any disagreements or disputes, the latest version of this Agreement available on the Site at the time of the dispute shall prevail.
2.9. Your continued use of the Site, Mobile Apps and other services offered by the Company after posting the changes to this Agreement will constitute Your acceptance of such changes.
2.10. You should discontinue using the Site, Mobile Apps and other services offered by the Company if You do not agree with any changes to this Agreement.
3.1. Client hereby acknowledges and accepts that:
3.2. Client hereby represents and warrants that:
4.1. Client has a right:
4.2. Client is obliged:
4.3. The Company has a right:
4.4. Account Closure Charges
The Company reserves the right to levy account closure charges in the amount of USD10.00, or its equivalent in another currency, if:
4.5. The Company is obliged:
5.1. This Agreement shall be governed by and interpreted in accordance with the laws of the Saint Vincent and the Grenadines.
5.2. If any dispute, controversy or claim arises out of this Agreement between Client and the Company, Client is strongly encouraged to first contact the Company directly to seek amicable resolution.
5.3. Disputes, controversies or claims arising out of or relating to this Agreement, which have not been amicably resolved between Client and the Company within thirty (30) calendar days, shall be submitted to the non-exclusive jurisdictions of the courts of the Saint Vincent and the Grenadines for the final resolution.
6.1. Client agrees to defend, indemnify and hold harmless the Company, its affiliates and respective directors, officers, employees and agents from and against all claims and expenses arising out of the use (misuse) of the Site, Mobile Apps and Client’s Account.
6.2. Client acknowledges and accepts that the use of our services or any systems owned or used by the Company is entirely at Client’s own risk.
6.3. Client acknowledges and accepts that Client will enter into all and any transactions with the Company at his/her own risk, and the Company assumes no liability for any loss whatsoever as a result of Client’s trading activity with us.
6.4. Notwithstanding any other provision in the Agreement, the Company shall not be liable for any loss or damage caused by the Company or its employees or representatives in the event of:
6.5. The Company shall not be responsible for any delays, delivery failures, or any loss or damage which results from the transmission of information over any network, including but not limited to the Internet.
6.6. Access to the Site and Mobile Apps is provided on an "as is" basis without warranties of any kind, either express or implied, including, but not limited to, warranties of title or implied warranties of merchantability or fitness for a particular purpose, other than those warranties which are implied by and incapable of exclusion, restriction or modification under the laws applicable to this Agreement.
6.7. Neither the Company nor its directors, officers, employees, agents and representative shall be liable for any losses, damages, costs or expenses incurred or suffered by Client resulting or arising from any act or omission made under or in relation to or in connection with the provision of the Services or under this Agreement unless arising directly from the Company’s or Client’s negligence, breach of any duty the Company may owe Client under the regulatory system, bad faith, wilful default or fraud.
6.8. Neither the Company nor its directors, officers, employees, agents and representative shall be liable in contract, tort, negligence, breach of statutory duty or otherwise for any loss, damage, costs or expenses of any nature whatsoever incurred or suffered by Client of an indirect or consequential nature including without limitation any loss of opportunity, loss of profit, loss of business or loss of goodwill.
6.9. Without limitation, the Company does not accept liability for any adverse tax implications of any Client’s Transaction. The Company does not and shall not provide any tax advice, and the Company shall not at any time be deemed to be under any duty to provide such advice.
6.10. Neither the Company nor its directors, officers, employees, agents and representative shall be liable for any delay or change in market conditions before any particular Transaction is carried out.
6.11. Neither the Company nor its directors, officers, employees, agents and representatives shall be liable to Client for the solvency, acts or omission of any third party appointed for the purposes of the provision of Services under this Agreement.
6.12. Neither the Company nor its directors, officers, employees, agents and representatives shall be liable for any loss or damage caused by Client’s reliance on information obtained through the Site. It is the responsibility of Client to evaluate the accuracy, completeness or usefulness of any information, opinion, report or other content available through the Site. Clients should seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, report or other content.
6.13. Neither the Company nor its directors, officers, employees, agents and representatives shall be liable for any losses or damages (whether direct or indirect) caused by changes in regulatory and compliance requirements of the applicable laws and regulations.
6.14. Neither the Company nor its directors, officers, employees, agents and representatives shall be liable for any loss that Client may incur as a result of someone else using Client’s login credentials or Account, either with or without Client’s knowledge. However, Client shall be held liable for losses incurred by the Company or another party due to someone else using Client’s Account or login credentials.
6.15. The information and material contained on the Site is for information purposes only and does not constitute any kind of advice. Such information and material may be incorrect or out of date and should not be considered as a definitive or complete statement of fact. Client should check any information and material on the Site and use his/her own judgement before doing or not doing anything on the basis of such information or material.
6.16. The Company makes no representations or warranties with respect to the Site or its content. All warranties (express or implied) (including without limitation the implied warranties of satisfactory quality and fitness for purpose relating to the Site and/or its content) are hereby excluded to the fullest extent permitted by law. No representations or warranties are given as to the accuracy or completeness of the information or material provided on the Site or any website or webpage to which it is linked.
6.17. Neither the Company nor its directors, officers, employees, agents and representative shall be liable for:
6.18. The Company shall not be liable to Client if Client cannot access the Site properly or at all (wholly or partly) or if some of its features are unavailable to Client due to events outside the Company’s control (which shall include without limitation the performance of any internet service provider, the performance of any internet browser or limitations of the device Client uses to access the Site).
6.19. The Company shall not be liable to Client for any loss or inconvenience suffered due to the unavailability or withdrawal of any content, material or other information from the Site.
6.20. Under no circumstances shall the Company be liable for:
7.1. The Company’s official language is the English language. The provision of any information, including marketing material, any translated version of this Agreement and/or any other communication, in a language other than our official language, is provided solely for convenience purposes and the legally binding version shall be the English language version of such documentation. In the event of a dispute, the English version shall prevail.
7.2. Proceeds from digital options trading may be subject to tax depending on the country where Client resides. Client should seek independent tax advice if Client is unsure on how this may affect him/her, as the Company does not provide any tax advice.
7.3. Client is solely responsible for determining what, if any, taxes apply as well as for collecting, reporting and remitting any applicable taxes to a relevant tax authority.
7.4. Client understands that tax laws are subject to change and in the event they do the Company reserves the right to debit Client’s Account any tax payment which may be levied in relation to Client’s transactions with the Company.
7.5. This Agreement, the terms agreed between the Company and Client with respect to each Transaction, and all amendments to any of such items shall together constitute a single agreement between the Company and Client. Both the Company and Client acknowledge that all Transactions are entered into in reliance upon such fact, it being understood that the Company and Client would not otherwise enter into any Transaction.
Recording of Calls
7.6. The Company may record phone conversations without use of a warning tone to ensure that the material terms of the Services, and any other material information relating to the Services are promptly and accurately recorded. Such records will be the Company’s sole property and shall be accepted by Client as evidence of orders or instructions given by Client.
7.7. The Company’s records shall be used as evidence of all Client’s dealings with the Company in connection with Services. Hereby Client confirms that he/she shall not object to having the Company’s records presented as evidence in any legal proceedings because such records are not originals, are not in writing nor are they documents produced by a computer. Client shall not rely on the Company to comply with Client’s record keeping obligations, although records may be made available to Client upon request at Company’s absolute discretion.
Rights and remedies
7.8. The rights and remedies provided under this Agreement are cumulative and not exclusive of those provided by law. The Company shall be under no obligation to exercise any right or remedy either at all or in a manner or at a time beneficial to Client. No failure by the Company to exercise or delay by the Company in exercising any of the Company’s rights under this Agreement (including any Transaction) or otherwise shall operate as a waiver of those or any other rights or remedies. No single or partial exercise of a right or remedy shall prevent further exercise of that right or remedy or the exercise of another right or remedy.
7.9. Without prejudice to any other rights to which we may be entitled, the Company may at any time and without any prior notice to Client write off any amount (whether actual or contingent, present or future) owed by Client to the Company against any amount (whether actual or contingent, present or future) owed by the Company to Client. For these purposes, the Company may ascribe a commercially reasonable value to any amount which is contingent or which for any other reason is unascertained.
7.10. Any part, provision, representation or warranty of this Agreement which is prohibited or which is held to be void or unenforceable shall be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof. Any part, provision, representation or warranty of this Agreement which is prohibited or unenforceable or is held to be void or unenforceable in any jurisdiction shall be ineffective, as to such jurisdiction, to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. To the extent permitted by applicable law, the parties hereto waive any provision of law which prohibits or renders void or unenforceable any provision hereof.
7.11. The Company prohibits current and former, part-time and full-time, employees, current and former business associates, and affiliates of the Company or any of its affiliated entities (“relevant persons”) to register an account on the Site and/or become a client of the Company (either directly or indirectly) without the Company’s prior written consent.
7.12. Should the Company consider that any of relevant persons is trading with the Company without the Company’s prior written consent, the Company shall consider all the trading to be abusive and/or improper trading. In such circumstances the relevant person’s account and all open positions shall be closed immediately and any available balance excluding the initial deposit shall be written off.
One-Click Trading Disclaimer
7.13. Client hereby confirms that Client’s current version of the terminal enables Client to choose between the following modes for order submission. Client agrees that he/she will be bound by the terms and conditions specified herein with respect to each such mode.
7.14. THERE WILL BE NO FURTHER CONFIRMATIONS FOR CLIENT TO CLICK. CLIENT WILL NOT BE ABLE TO WITHDRAW OR CHANGE CLIENT’S ORDER ONCE CLIENT CLICKS. UNDER NORMAL MARKET CONDITIONS AND SYSTEM PERFORMANCE, A MARKET ORDER WILL BE PROMPTLY FILLED AFTER SUBMISSION AND CLIENT WILL HAVE ENTERED INTO A BINDING TRANSACTION.
7.15. Client can activate or deactivate One Click Trading mode on the Trade tab of Options window of the terminal.
7.16. By selecting the One Click Trading mode, Client understands that Client’s orders will be submitted by clicking the bid or ask rate button or in any other way described above, without any further order confirmation. Client agrees to accept all risks associated with the use of the order submission mode Client has chosen, including, without limitation, the risk of errors, omissions or mistakes made in submitting any order.
7.17. Client agrees to fully indemnify and hold harmless the Company from any and all losses, costs and expenses that Client may suffer as a result of any such errors, omissions or mistakes by Client, Client’s trading manager or any other person trading on Client behalf.
8. TERM AND TERMINATION
8.1. This Agreement shall come into force on the date of its acceptance by Client.
8.2. This Agreement does not have an ending date but will remain in force until one of the Parties expresses a desire to terminate it.
8.3. Client has the right to terminate this Agreement by providing a written notice to the Company 3 (three) days before the termination. Upon receipt of such notice, a hold will be placed on Client’s Account to allow any then pending transactions to clear.
8.4. All funds appearing on the balance of Client’s Account must be withdrawn or otherwise transferred before closure of Client’s Account is finalized.
8.5. The Company shall terminate the Agreement with immediate effect without any prior notice to Client, notwithstanding any other action, invalidate Transactions and seize funds from the balance of Client’s account(s) where:
8.6. Upon termination, any fees due or any expenses incurred by the Company as a result of the termination of this Agreement should be settled immediately. Unless otherwise agreed in writing, any amount due or outstanding will be directly deducted from Client’s Account.
to the Terms & Conditions
Technical Terms and Conditions
1.1. Processing Client’s requests and orders have the following structure:
1.2. The processing time may vary and depends on the quality of the communication between the on Site platform and the server, as well as on the market conditions. In normal market conditions the processing time usually varies between 1-4 seconds. In some cases and market conditions that differ from normal, the processing time can be longer than 4 seconds.
1.3. The server may refuse Client’s request or order in the following cases:
1.4. When working with the on Site platform Client may only use one browser tab. If Client uses multiple browser tabs, information and results of Transactions can be adjusted and/or abolished.
1.5. Client acknowledges and accepts that information about Client’s Account balance reflected on the Site platform, and also about Client’s Transactions and their results, is complete and indisputable. Client has no right to demand from the Company to change the information reflected on the Site platform, and has no right to demand from the Company any compensation of any funds which expected by Client as a result of any Transactions which are not reflected by the Company on the Site.
2.1. Client acknowledges and accepts that the only reliable source of quote flow information is the main server for Clients. The information contained in quotes on the Site platform cannot serve as a reliable source of information about the real quotes flow, as in the case of unstable connection between the on Site platform and the server part of the quotes may not reach the on Site platform.
2.2. The graphs displayed on the Site platform are indicative. Thus, the Company does not guarantee that the order will be executed at the same prices specified in the on Site platform at the time of Client’s Transactions.
2.3. The price displayed on the trading platform is formed by the formula (Bid + Ask)/ 2.
2.4. Non-Market quotation
2.4.1. Non-Market quotation — the price specified in the on Site platform without the corresponding price on the market at a given time.
2.4.2. If the Company has executed Client’s request or order at non-market quote, Company is charged with the responsibility for correction of financial transactions between erroneous positions and closing of the actual market price, corresponding to the time of closing of the non-market quotation.
2.4.3. In the event that Client’s request or order to the opening position was executed at non-market quote, the Company reserves the right to cancel the financial result for such a position.
3.1. If the amount of available on the Client’s Account funds is sufficient to open a position — the position will be opened.
3.2. If the size of the available on the Client’s Account funds is insufficient to open a position — the position won’t be opened.
3.3. The Client’s order to open a position is deemed as proceed, and the position is opened only after the corresponding entry in the server log file. Each new position is assigned with a serial number.
3.4. Closing trading position occurs at the current price.
3.5. Company reserves the right, in its sole discretion, to place limits on the turnover and/or number of Client's trades in financial instruments for the last 24 hours based on the current market conditions and liquidity. In case Client exceeds the limit on the turnover and/or number of trades, Company reserves the right to reject/cancel Client's orders/trades, without giving rise to any claim against Company.
4.1. OTC Assets or “over the counter” assets are any assets that traded out of the regular market.
4.2. OTC Assets prices are formed on the basis of information of the Client’s orders received by the Company.
4.3. Client acknowledges that by making deals on OTC Assets, Client understands the essence of the work of OTC Assets.
4.4. Client acknowledges that by transfer of orders to Company on OTC Assets, Client admits that the only reliable source of quoting information is the server that supports Clients.
4.5. Bitcoin and Litecoin Assets are assets that are traded out of the regular market.
4.6. The prices of Bitcoin and Litecoin Assets are based on average quotes provided by cryptocurrency exchanges.
4.7. Client acknowledges that by making deals on Bitcoin and Litecoin Assets, Client understands the essence of the work of Bitcoin and Litecoin Assets.
4.8. Client acknowledges that by transfer of orders to Company on Bitcoin and Litecoin Assets, Client admits that the only reliable source of quoting information is the server that supports Clients.
5.1. If the Company discovers fraud schemes such as:
5.1.1. Fraud associated with credit card transactions and any other ways to remit a balance of credit cards that does not belong to Client;
5.1.2. Fraud associated with the use of software for false trading results;
5.1.3. Fraud associated with errors and system failures for false trading results;
5.1.4. Fraud associated with opening positions in the same financial instrument but in the opposite directions (buy/sell) from different Clients’ accounts.
Client’s Account will be blocked by the Company without the possibility of performing further Transactions through Client’s Account and all payments to Client will be cancelled. The Company reserves the right to inform and involve law enforcement authorities for investigation if any fraudulent methods to obtain payment will be used by Client.
5.2. Any using an unfair advantage or influence (commonly known as cheating), including a decompilation, reverse engineering, any implantations to the client—server relationship, exploitation of bugs, loopholes or errors in software, any hack, database security violation, the use of automated players (also known as ’bots’); or the exploitation of an ’error’ are strictly prohibited by the Company. If such using will be revealed by the Company Client’s Account will be blocked without any prior notice. Client will not be able to use Services anymore, all payments to Client will be cancelled and any Client’s fund and deposit will be seized.
6.1. All transactions carried out by Client with debit or credit card displayed in the bank statement with a note: SWIPEFX.COM, SWIPEFX or EXPERT.