The present two parties Agreement (further referred to as "the Agreement") is made by and between FxStat Group Inc (BVI) (referred to as "the Company"); FxStat customer intending or supposing to copy online trades of any customer of the Company for the purpose of obtaining the benefits and clearly understanding all financial risks (referred as to "the Follower").
1. Definitions
"Company" means FxStat Group INC providing the FxStat trade copy technology via FxStat Tradesbook and a system of payment settlement between the Follower and the SignalProvider (further referred to as "the TradeCopy system").
"SignalProvider" shall mean a Company's customer registered in the FxStat system as the SignalProvider for the purpose or with intent to enable copying his/her trades as well as manage his/her account in behalf of himself and Followers that use the FxStatCopy system to copy his/her trades.
"Follower" shall mean a Company's customer registered in the TradeCopy system as the Follower for the purpose or with intent to copy trades of any SignalProvider registered in the TradeCopy system.
"Monitoring" means a particular page on the Company's website providing information about SignalProviders and available publicly on the Company's website and in the TradeCopy section of SignalProvider.
2. General Provisions
2.1. Description of the TradeCopy system
The TradeCopy system is a software product developed and owned by the Company and designed to technically implement and automate all copying processes occurring between trading accounts connected with the Company. The TradeCopy system shall provide automated processes as follows:
a) Registration of the Follower in the TradeCopy system;
b) Registration of the SignalProvider in the TradeCopy system;
c) The Follower's subscription to the SignalProvider's account for the purpose of copying and subsequent execution of SignalProvider's orders on the Follower's account.
d) Calculation of a commission to be paid by the Follower to the SignalProvider for copied and executed trades;
e) commission crediting to the SignalProvider's account;
f) Adjustment by the SignalProvider of copying terms to copy trades;
g) Adjustment by the Follower of subscription parameters to copy trades;
h) Information update about the SignalProvider's account and its display in Follower portfolio.
2.2. The TradeCopy system shall be available to any Company's customer after the customer has been registered with the TradeCopy system as the Follower. The Article 5 hereof provides technical regulations of the TradeCopy system.
2.3. The TradeCopy system implies possible risks related both to Forex trades made by the SignalProvider and copied by the Follower and possible technical deficiencies due to drawbacks of the trading platform or the TradeCopy system.
3. Rights and Responsibilities of the Company
The present Agreement shall establish rights and responsibilities of the Company. Provided that Company's servers function properly, the Company shall meet all responsibilities established herein.
3.1. Copy trades
The Company shall record a Follower's request to copy trades from the SignalProvider's account and start copying trades from the SignalProvider's account to the Follower's account within 5 minutes after the Follower has added the SignalProvider in the portfolio.
The Company shall pass the copy trades signal from the SignalProvider's account to the Follower's account as quickly as possible with the maximum admissible delay of 2 minutes.
3.2. Record profits and losses
After the SignalProvider has accepted a request to copy his/her trades and started trading, the Company shall periodically record profits and losses from trades opened by the SignalProvider and trades copied to the Follower's account. The record shall be provided once a trade is been closed and its results shall be available in Follower closed trades section and SignalProvider payment page.
3.3. Cancel the subscription to copy trades
In case the Follower has requested to remove a SignalProvider from copying trades, the Company shall process the request within 2 minutes and all open positions of follower will be closed at the time SignalProvider is been removed from the portfolio.
4. Rights and Responsibilities of the Follower
The present Agreement shall establish rights and responsibilities of the Follower. The Follower shall enjoy rights to an extent enabled by software and hardware facilities of the Company. In case of technical problems and/or software failures, the Company may not be able to ensure full observance of Follower's rights.
4.1. Risk acknowledgment
The Follower understands that risk disclosure may not contain full information about possible risks and assumes any risks reasonably caused by the Company or a third party.
4.2. Acknowledgement of technical regulations of the TradeCopy system
The Follower acknowledges and accepts technical regulations of the TradeCopy system described in the Article 6 hereof and any risks related to them.
4.3. Acknowledgement of the Company's status hereunder
The Follower acknowledges that under the present Agreement the Company shall provide technical implementation of the TradeCopy system disclaiming any responsibilities for the results of trades on the SignalProvider's account.
4.4. Access to statistics on the SignalProvider's account
The Follower shall access to statistics on a growth, equity and profits of the SignalProvider's account updated regularly (once a day in normal conditions). Using this/her information, the Follower may take a decision to cancel subscription to copy trades of the SignalProvider; however, the Follower shall be aware of possible delays in information update that shall not exceed onece a day in normal conditions.
4.5. Closing trades on the Follower's account
Trades on the Follower's account shall be closed as quickly as possible with the maximum admissible delay of 2 minutes following their closing on the SignalProvider's account unless followers account is not connected to tradecopy system for any reason. Besides, the TradeCopy system shall enable the Follower to close copied trades at his/her discretion.
4.6. Cancellation of the subscription
Copying trades shall be cancelled after the Follower has requested to to remove a trader from his/her portfolio, or automatically in case the SignalProvider's account is been removed from the list of providers. Copying trades shall terminate as quickly as possible with the maximum admissible delay of 2 minutes after the SignalProvider is been removed from the portfolio.
5. Technical Regulations of the TradeCopy system
5.1. Technical regulations of the TradeCopy system shall describe a number of automatic processes and their duration. The Follower acknowledge and assume any possible technical deficiencies of processes described herein due to technical problems and/or software failures.
5.2. Technical regulations of the TradeCopy system shall be applied to the following processes:
a) Registration of the Follower with the TradeCopy system of the Company;
b) Storage of contact information of the Follower. Information shall be used for communication of the parties to the present Agreement;
c) Follower' request to copy trades;
e) Record of trades copied by the Follower from the SignalProvider's account;
f) Record of currency pairs in trades to be copied by the Follower;
h) Record of a commission per 0.01 lots of every trade to be paid by the Follower to the SignalProvider;
i) Record of a profit share to be paid by the Follower to the SignalProvider;
j) Online copying trades to the Follower's account from the SignalProvider's account;
k) Follower's request to cancel subscription;
l) Providing each Follower with access to statistics on the TradeCopy system in the monitoring list.
6. Risk Disclosure Statement
6.1. By registering in the TradeCopy system, the Follower acknowledge and assume the present Risk Disclosure Statement.6.2. The Follower clearly understands risks of total losses resulting from unsuccessful trading on the SignalProvider's account.
6.3. The Follower acknowledges and accepts all risks related to a delay in statistics update on the profits, balance and equity. The Follower understands that information provided in Follower section may differ from information used to calculate the profits received by the Follower from copying trades.
6.4. The Follower acknowledge and accept all risks related to delays in system's processing of requests which may exceed 2 hours. In case of technical problems of the Company, the Company shall not guarantee timely processing the trade signals. The Follower acknowledge and accept all risks related to delays in processing of requests by the TradeCopy system that may cause losses of the Follower.
7. Risks Associated with Social Trading
FxStat Group Inc. 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. Such social trading features include but are not limited to the FxStat, Social networking, Tradesbook, Managedbook, Moneymanager Book, performance page, instant messaging, private messaging, forum 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:
7.1. Social Trading Features are provided by Us solely for informational purposes. FxStat Group Inc. and its affiliates and their employees and agents are not investment or financial advisers. 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 FXSTAT GROUP INC, AND ITS PARTNERS, AFFILIATES, THEIR EMPLOYEES AND ITS AGENTS WILL NOT BE LIABLE FOR ANY LOSSES THAT YOU MAY SUSTAIN. YOU SHOULD NOT MAKE ANY INVESTMENT DECISION 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.
7.2. A copied trader positions shall be copied 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 for whatsoever reason, without providing any further notice and without any action on your part and/or if the copied trader positions were closed manually by the follower. You should be able and prepared to bear the loss of the entire investment You made in such a copied trade. 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 utilizing of any of the Social Trading Features.
7.3. 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 followed.
7.4. 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.
7.5. 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 GAINS/LOSSES EXPERIENCED BY INVESTORS WILL VARY DEPENDING ON MANY FACTORS, INCLUDING BUT NOT LIMITED TO: STARTING ACCOUNT BALANCES (DEPOSITS AND WITHDRAWALS), MARKET BEHAVIOR, THE INVESTOR ACCOUNT SETTINGS AND THE PERFORMANCE OF THE COPIED USER. BECAUSE OF THIS, ACTUAL PERCENTAGE GAINS/LOSSES EXPERIENCED BY INVESTORS MAY BE MATERIALLY DIFFERENT THAN THE PERCENTAGE 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 MARKETS 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.
7.6. 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 DECISION 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 ANOTHER TRADER, 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. FXSTAT GROUP INC. 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.
7.7. INDEMNIFICATION AND LIMITATION OF LIABILITY
YOU EXPRESSLY AGREE THAT YOUR 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, ACCESSED VIA, OR DESCRIBED ON OUR WEBSITE, IS AT YOUR OWN RISK, AND THAT ALL SUCH INFORMATION, CONTENT, SERVICES AND MATERIALS ARE PROVIDED ON AN AS IS AND AS AVAILABLE BASIS. TO THE FULL EXTENT PERMISSIBLE BY APPLICABLE LAW, WE MAKE NO, AND HEREBY 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, CONSTITUTES OR 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 PRODUCT, INVESTMENT MANAGER, OR TRADING OR INVESTMENT STRATEGY. IN ADDITION, WE DO NOT REPRESENT OR WARRANT THAT THE INFORMATION ACCESSIBLE VIA THE SITE IS ACCURATE, COMPLETE, RELIABLE OR CURRENT, AND WE ARE NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS THEREIN OR FOR ANY ADVERSE CONSEQUENCES RESULTING FROM YOUR RELIANCE ON ANY ASPECT OF THE SITE. FURTHER, WE MAKE NO REPRESENTATIONS AND WARRANTIES THAT OUR WEBSITES WILL BE UNINTERRUPTED, SECURED, OR FREE OF ERRORS OR VIRUSES, OR OTHER HARMFUL COMPONENTS.
IN NO EVENT SHALL WE OR OUR AFFILIATES, OR THE DIRECTORS, OFFICERS, EMPLOYEES, AGENTS OR REPRESENTATIVES OF FxStat Group Inc. OR ITS AFFILIATES (THE FxStat PARTIES) BE LIABLE TO YOU OR ANY THIRD PARTY FOR 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 (INCLUDING, BUT NOT LIMITED TO, ANY DIRECT, INDIRECT, SPECIAL, PUNITIVE, INCIDENTAL OR CONSEQUENTIAL DAMAGES OR DAMAGES FOR LOSS OF PROFITS, GOODWILL OR REVENUE, BUSINESS INTERRUPTION, OR LOSS OF DATA), EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, AND REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, TORT, OR OTHERWISE. IN ANY EVENT, AND NOTWITHSTANDING, THE MAXIMUM LIABILITY THAT YOU MAY CLAIM FROM US FOR ANY REASON SHALL BE NO MORE THAN THE ACTUAL SUM OF MONEY THAT YOU DEPOSITED IN YOUR ACCOUNT FOR THE PURPOSE OF TRADING THAT MAY HAVE BEEN THE BASIS 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.
8. Technical Problems and Difficulties
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 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. 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. 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.
9. Force Majeure
We will not be liable to You under any circumstances for any damage or losses that You incur due to circumstances beyond our control legally referred to as Force Majeure including, but not limited to, pursuant to any action taken by any government or regulatory body, legal authority, technical delays, technological malfunction, loss of data and records or destruction of hardware. We will not be liable to You for any such extraordinary events known as Force Majeure which may occur that We could not foresee or otherwise prevent.
10. Maintenance Shut Downs
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, you still able to continue checking, monitoring, modifiying, open, close change positions directly via your broker platform so that our customers will not have any ongoing claims from Us. Furthermore, at any given time, at our sole discretion, We reserve the right to impose volume limits on customer accounts. Contract payouts shall be determined by FXStat by reference to the daily values reported on this website relevant to the interbank trading data received by FXStat for Forex or derivative products quotes, subject to the provision that FXStat shall have the right to make corrections to such data in the event of mispriced or typographically incorrect data.
11. Taxation
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 applicable 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.
12. Termination of these Terms and Conditions
We reserve the right to terminate these Terms and Conditions and your account and registration (including your username and password) in the following cases:
- If for any reason We decide to discontinue to provide the Service, by providing at least a 5 (five) calendar days notice (which may be provided by email, facsimile etc.);
- If We believe that You have breached any of the terms of these Terms and Conditions, immediately without notice;
- If your use of the Service has been in any way improper or breaches the spirit of these Terms and Conditions; or
- an issuance if an application, order, resolution or other announcement in relation to the bankruptcy or winding-up proceedings in which You are involved, immediately without notice;
- the death of the user, immediately without notice
You may terminate these Terms and Conditions and your account and registration (including your username and password) at any time by sending an email to support@fxstat.com , such termination to take effect upon FxStat terminating your account and registration (including username and password), 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 sending Us an email and the termination of your account by Us.
13. Severability
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.
14. Claims and Disputes
14.1. The Follower shall first endeavor to settle any claim or dispute related to technical regulations of the TradeCopy system by email communication with the Company and shall maintain in confidentiality all information related to the claim or dispute before it has been settled.
14.2. The Company shall consider all claims or disputes related to the functioning of the TradeCopy system within 30 days after it has been received. The Company will not consider any claim or dispute related to losses resulting from SignalProvider''s activities on Forex market.
14.3. This agreement and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of England and Wales. 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.
14.4. The parties irrevocably agree that the courts of England and Wales shall have non-exclusive jurisdiction to settle any dispute or claim that arises out of or in connection with this agreement or its subject matter or formation (including non-contractual disputes or claims).
15. Modifications to These Terms and Conditions
We reserve the right to amend, revise, modify, and/or change these Terms and Conditions at any time.
