Permission to electronically Business Conduct and Disclosure Risk :
1. Applications electronically.
If you decide to create a Trading Account with BullishFx you agree to receive a Risk Disclosure Statement, Treaty Trader / Member, Trader / Member Account Letter, and Off Exchange Transaction Disclosure electronically.
2. Electronic communication.
Risk Disclosure Statement, Trader / Member Agreement, Trader / Member Account Letter, and Off Exchange Transaction Disclosure, and any notices, instructions, agreements, or other communications Transactions and your Account (all of which is referred to here as the “Communications”) may be served, sent, stored, retrieved, and transmitted electronically.
3. Implementation of the Electronic Transactions.
Agreement and the transactions will be carried out with the use of electronic records and electronic signatures.
4. Doing Business in Electronic approval.
The decision to do business electronically is yours, and you should consider whether you have the hardware and software capabilities required. Your consent to do business electronically, and our agreement to do so, only applies to the establishment and maintenance of accounts and the execution of transactions relating to your account.
5. Withdrawal of approval.
You have the right to withdraw your consent to doing business electronically at any time. Withdrawal only applies to the customer’s bank account on behalf of itself and can not be sent to the account on behalf of others.
6. Changes in your information.
You must inform us of any changes to an electronic mail address or other contact information.
7. You may print this document by selecting Print from the File menu.
8. Your ability to access the Communications. When you choose the “I Agree” below, you acknowledge that you have the ability to access the Communications.
9. Approval of Electronic Communications. When you choose the “I Agree” button below, you agree to have all Communications provided or made available to you in electronic form.
10. Approval for the implementation of electronic transactions. When you choose the “I Agree” button below, you agree to execute the Agreement and Transactions by electronic record and / or electronic signatures.
A. RISK DISCLOSURE STATEMENT
This brief statement (although not required for OTC / Over The Counter Trading) does not disclose all the risks and other important aspects of leveraged trading and investing.
Given this risk, you should enter into such transactions only if you understand the nature of the contract (and contractual relationship) you are entering into and the extent of your exposure to risk.
You should carefully consider whether trading is suitable for you based on your experience, objectives, financial resources and other circumstances.
1. Effect of Leverage or Gearing
Transactions on OTC accounts are high risk with an initial margin amount that is relatively small compared to the value of the OTC contract so transactions are leveraged or directed.
A relatively small market movement will have a proportionately larger impact on the funds you have deposited and this can cost you a lot.
If the market moves against your position, spreads widen or margin levels increase, you may experience a loss of initial margin funds and additional funds deposited to maintain your trading positions and you may also be required to pay substantial additional funds in a short period of time to maintain the position.
If you fail to fulfill the request for additional funds within the stipulated time, your trading position may be liquidated with a loss.
2. Risk-reducing orders or strategies
Placement of certain orders (e.g. stop-loss orders, where permitted under local law, or stop-limit orders) which are intended to limit losses to certain amounts may not be effective because market conditions may not allow to execute such orders.
Strategies using combinations of positions, such as spread and straddle positions may be as risky as taking a position LONG or SHORT simple.
3. Terms and conditions of the Forex Trading
You should ask the companies that deal with you about the terms and conditions of the specific currencies which you are trading and associated obligations (e.g. the circumstances under which you are required to make or take delivery of the full currency value).
4. Suspension or restriction of trading and pricing relationships
Market conditions (e.g. liquidity) and / or the operation of the rules of certain markets (eg suspension of trading in any currency because of price limits, government intervention or “circuit breakers”) may increase the risk of loss by making it difficult or impossible to effect transactions or liquidate / close position.
5. Deposited cash and property
You should familiarize yourself with the protections accorded money or other property you deposit for domestic and foreign transactions, particularly in the event of insolvency or bankruptcy of the company. The extent to which you may recover your money or property may be governed by specific legislation or local rules.
In some jurisdictions, property which had been specifically identifiable as your own will be prorated in the same manner as cash for purposes of distribution in the event of a decline.
6. Commission and other charges
Before you begin to trade, you should obtain a clear explanation of all commission, transaction fees, spread markups, spread markdowns, rollovers, interest rate differential and other charges which would you take.These charges will affect your net profit (if any) or increase your loss.
7. Transactions in other jurisdictions
Transactions on currencies of other countries in other jurisdictions, including markets formally linked to a domestic market, may expose you to additional risk. Such markets may be subject to regulation which may offer different or diminished members protection.
Before you trade you should inquire about any rules relevant to your particular transactions. Your local regulatory authority will be unable to compel the enforcement of the rules of regulatory authorities or markets in other jurisdictions where your transactions have been effected.
You should ask the firm with which you deal for details about the types of redress available in both your home jurisdiction and other relevant jurisdictions before you start to trade.
8. Currency risks
Advantages and disadvantages of transacting in foreign currency contracts (whether they are traded in your own jurisdiction or elsewhere) will be affected by fluctuations in currency rates where there is a need to convert from the currency of the contract to another currency.
9. Trading Facilities
OTC business is not traded on a regulated market and therefore does not require open-outcry, Even though quotations or prices are afforded by many computer-based component systems, the quotations and prices may vary due to market liquidity.
Many electronic trading facilities are supported by computer-based component systems for the order-routing, execution or matching of trades.
With all these facilities and systems, they are vulnerable to temporary disruption or failure. Your ability to recover certain losses may be subject to limits on liability imposed by the system provider, the market, the bank and / or financial institutions.
The limits may vary, you should ask the company you are dealing with the details in this regard. BullishFx offer CFD trading on shares, indices and products in the futures markets, not trading in the underlying instruments themselves.
Therefore, CFD Trading with BullishFx does not entitle the Trader / Member to dividends, transmit, or possibly certain other characteristics in terms of buying or selling the underlying instrument.
Furthermore, since trading CFDs and Foreign Exchange with BullishFx is traded on an OTC basis it is not conducted on any futures exchange or exchange and is not subject to the rules of any futures exchange or stock exchange.
10. Electronic trading
Trading on an electronic trading system may differ not only from trading in the interbank market but also from trading on other electronic trading systems.
If you undertake transactions on an electronic trading system, you will face the risks associated with the system, including hardware and software failures. As a result of system failure your order is either not executed according to your instructions or is not executed at all.
11. Risk Warning
- Email that you use will be the media to recover the password for BullishFx account, MT4 account and others that relate to your financial transactions at BullishFx. Risks that arise due to the negligence of maintaining the confidentiality of your email is not our responsibility.
- Trading the financial markets carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, trading the financial markets may not be suitable for all peoples because you may lose all of your invested capital. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved taking into account your trade objectives and level of experience. Seek independent advice if necessary. The law and regulation of trading the financial market for each country may different, If there is a dispute, the Parties agree to use the law and regulation in Hongkong to resolve the dispute.
- We strongly recommend that you do not allow your MT4 Account to be traded by other parties, including Marketers or Affiliates of BullishFx.
- Along with the development of technology and information that can cause reduction in Performance and Security on the BullishFx Transaction System and Platform, if you are indicated or proven to cooperate with our Marketers, Agents, Affiliates in making transactions by utilizing these weaknesses, then all transactions that have been made can be canceled.
- If you are indicated or proven to influence our Marketers, Agents, Affiliates to assist you in making Transactions for both yourself and the group with the lure of giving gifts or promising to share profits with our Marketers, Agents, Affiliates, all transactions that have been made can be canceled and you will bear any losses incurred from the cancellation action.
1. Internet and System failures :
Since BullishFx does not control signal power, its reception or routing via Internet, configuration of your equipment or reliability of its connection, we can not be responsible for communication failures, distortions, delays, when you are trading on-line (via Internet).
In addition, losses or foregoing profits in Trader / Member’s account are the responsibility of Trader / Members, not BullishFx, even if software, hardware, or other system failures or errors contributed to the loss or gain of the past.
2. Market risk and trade on-line :
Trading currencies involves risks that are not suitable for everyone. See Trader / Member Agreement for more detailed description of these risks.
Trading on-line, no matter as comfortable or efficient as any, does not necessarily reduce risks associated with currency trading.
3. Password protection :
The Trader / Member is obligated to keep passwords secret and ensure that third parties do not obtain access to the trading facilities.
Trader / Member declares that he will be responsible to BullishFx for each trade made even though the use of the trading facility may be wrong.
4. Quoting errors :
If the dealer quoting errors occur due to wrong typing a quote, errors in an automatic price fee, or erroneous price quote from a dealer, such as but not limited to large error quote numbers, BullishFx will not be responsible for errors in account balances.
BullishFx reserves the right to make necessary corrections or adjustments on the account involved.
Any dispute arising from such quoting errors will be resolved on the basis of fair market value of a currency or CFD at the time such an error occurred.
C. ACCOUNT LETTER
Oval Inc is a registered company in the Seychelles and is a liquidity provider, quotation company and provides liquidity to Oval Capital International Ltd.
Oval Capital International Ltd. is a company registered and domiciled in HongKong is a company that is entitled to the BullishFx trademark.
It is a legal contract between BullishFx (“BullishFx”), its successors and assigns, and the party executing this document.
In connection with opening an account to speculate and / or purchase and / or sell Contracts For Difference (hereinafter referred to as CFDs), Futures, indexes, foreign exchange, and / or shares through the OTC market (hereinafter referred to as OTC) with BullishFx, Customer (hereinafter referred to as Trader / Member) acknowledges that Trader / Member has been advised and understands the following factors concerning trading in leveraged OTC, in addition to those listed in the Risk Disclosure Statement and Statement of Insolvency (Bankruptcy Statement) following which has been given to the Trader / Member.
- OTC is not traded on an exchange that has regulation. There are no guarantees to the credit worthiness of the counterparty of the position of your currency. Every effort has been made to deal with reputable credit banks / clearing houses. Also, there may be certain cases in which trading liquidity decreases causing trading in a particular currency stopped, thereby preventing the liquidation of an adverse position which may result in substantial financial loss.
- Trading in OTC is suitable only for those sophisticated institutions or sophisticated participants financially able to withstand losses and may equal the value of margins or deposits. OTC accounts are not recommended for regular participants.
- BullishFx market recommendations based only on assessment BullishFx personnel. These market recommendations may or may not be consistent with the market positions or expectations of BullishFx, affiliates, and employees. BullishFx market recommendations are based on reliable information, but BullishFx can not and does not guarantee the accuracy or completeness or represent that following such recommendations will eliminate the risks inherent in currency trading. Any market recommendations, or information provided by BullishFx do not always constitute an offer to buy or sell, or a solicitation to buy or sell, any OTC transaction.
- Trader / Member understands that BullishFx does not permit its Account Executives and / or Marketers exercise discretion or manage an OTC account, or hold power over an OTC account, unless approved by an executive officer BullishFx and only after proper documentation has been submitted and approved by BullishFx. If the account is not traded by the Trader / Member authority, the BullishFx Trader / Member must immediately notify the Compliance Officer only through the Support Ticket Menu facility found on the Bfx Mobile application, website and or email provided.
- BullishFx margin policy and / or policies of the banks / clearing house where trading is executed may require that additional funds be given to the appropriate account margin Trader / Member and Trader / Member is obligated to immediately meet such margin requirements. Failure to meet margin demands can lead to the liquidation of any open positions with the resulting loss. BullishFx also reserves the right to refuse to accept any order.
- Trader / Member understands that Trader / Member must carefully review the reports relating to trading provided to Trader / Member by BullishFx. In accordance with the Trader / Member Agreement, all reports of execution will be deemed final within twenty-four (24) hours and all statements of account will be deemed final within one (1) day, unless the Trader / Member makes a written objection to these reports within 24 hours of the time for officials BullishFx executive, at the principal place of business.
- Trader / Members have read, understood Trader / Members rights obligations based on the following Trader / Member Agreement, agrees and acknowledges that the following Trader / Member Agreement will control the Trader / Member’s relationship with BullishFx. Trader / Member agrees that Trader / Member is fully responsible for making all final decisions for transactions effected for Trader / Member’s account. Trader / Member has considered the factors mentioned above, in view of the current Trader / Members and financial resources that have been anticipated, Trader / Member is willing and able to bear a substantial financial risk in OTC trading.
D. Trader / Member AGREEMENT
In consideration BullishFx agreed to carry one or more accounts of the undersigned (“Trader / Member”) and providing services to Trader / Member in connection with the purchase and sale of CFDs, futures, indexes, foreign exchange, and / or shares through the OTC market, which can bought or sold through BullishFx for the account (s) of Trader / Member, Trader / Member agrees as follows:
1. AUTHORIZATION TO TRADE
BullishFx is authorized to buy and sell OTC in accordance with Trader / Member’s instructions, whether oral, written or computer.
2. GOVERNMENTAL, COUNTERPARTY INSTITUTION AND INTERBANKING SYSTEM RULES
All transactions under this Agreement shall be subject to the constitution, by-laws, rules, regulations, customs, usage, rules and interpretations of the counterparty institution or other interbank market and clearing organization, if any, in which this is done for all legal and regulations.
If any further legislation will apply any rule or regulation or later be adopted by any governmental authority or contract market or clearing organization which shall be binding BullishFx and will affect in any manner or be inconsistent with the provisions of Agreement, the provisions of this Agreement shall be deemed modified or superseded, as the case may be with the provisions of applicable law, the rule or regulation, all other provisions of this Agreement and the provisions should continue to apply fully modified.
Trader / Member acknowledges that all transactions under this Agreement are subject to the regulatory requirements and Trader / Member thus will not be given legal or contractual rights that are independent of such requirements.
3. MARGINS AND DEPOSIT REQUIREMENTS
Trader / Members shall provide and maintain margin in such amounts and in the form required by BullishFx.
Such margin requirements may be greater or less than margins required by a counterparty bank, BullishFx may change margin requirements at any time.
Trader / Member agrees to deposit additional margin via direct transfer when and as required by BullishFx and will promptly meet all margin demand in the transmission mode according BullishFx policy.
BullishFx may at any time proceed to liquidate Trader / Member’s transaction and any failure committed by BullishFx to enforce its rights under this shall not be deemed a waiver by BullishFx thereafter to enforce rights.
BullishFx reserves the right to limit the amount and / or total open positions that Trader / Member may obtain or maintain in BullishFx, and increase margin requirements with or without notice, either before an event occurs or after event occurs.
BullishFx will attempt to execute all orders at its sole discretion, choosing to receive it according to Trader / Member’s oral or written or computer instructions.
BullishFx reserves the right to refuse to accept any order. However, BullishFx not responsible for any loss or damage caused, directly or indirectly, by any events, actions or omissions beyond the control BullishFx including, without limitation, loss or damage resulting, directly or indirectly, from any delays or inaccuracies in the transmission of orders and / or information due to a breakdown or failure of any transmission or communication facilities.
4. AUTOMATIC ROLLOVER AND VOLUNTARY LIQUIDATION OF ACCOUNT POSITIONS
Unless otherwise specified in other documents, or in the Trading Rules which will apply from time to time, Trader/Member declares to provide verifiable written or verbal instructions to BullishFx to liquidate open positions in their respective trading Accounts for “Spot FOREX Positions” in accordance with further provisions of this section 4, the position will be extended automatically taken over as an open position in the trading account to the next consecutive business day, subject at any time to BullishFx’s sole and absolute discretion, to liquidate such trading positions in accordance with the terms This Agreement, including but not limited to the provisions of Article 6 of the Government Regulation below.
Spot FOREX Positions in trading Accounts can be settled or liquidated at any time online by entering the Spot FOREX market with the aim of offsetting and making or receiving a certain amount of foreign currency delivery.
To liquidate an open FOREX Spot Position in a trading Account by selling or buying, as applicable contracts that offset the same and or opposite Spot FOREX Position, written instructions must be given to BullishFx by the Trader/Member, or to liquidate the Spot FOREX in the trading Account by means of providing , or accept delivery of the underlying currency, provable or written verbal instructions for these securities must be provided to BullishFx, together with sufficient funds and all necessary documents to carry out the completion of this mode.
5. COLLATERAL AND LENDING AGREEMENT
All funds, securities, currencies, and other property belonging to Trader / Members that can at any moment be brought by or affiliated BullishFx for Trader / Member (either individually, jointly with others, or as a guarantor of the account of others), or which may be any while in the possession or control or carried in the books for any purpose, including storage, must be held by BullishFx as security and subject to a general lien and right of set-off for liabilities Trader / Member to BullishFx, whether BullishFx has made progress or not in connection with securities , commodities, currencies or other property, and irrespective of the number of accounts Trader / Member may have with BullishFx.
In its discretion, may BullishFx anytime and from time to time, without notice to Trader / Member, will use and / or transfer any or all funds or other property belonging to Trader / Member account among others.
Trader / Member hereby also grants BullishFx the right to pledge, pledge again, invest or loan, either separately or with the property of other Trader / Members, to itself as broker or to others.
This authorization applies to all accounts carried by BullishFx for Trader / Member and shall remain in full force until all accounts are fully paid for by Trader / Member or notice of revocation is sent by BullishFx from its headquarters.
6. LIQUIDATION OF ACCOUNTS AND PAYMENT OF DEFICIT BALANCES
In terms of Liquidation Account and Balance Payments Deficit:
a. Judicial declaration of incompetence of Trader / Member.
b. Filing of the petition in bankruptcy, or request the appointment of a receiver, or the institution of any insolvency or similar process by or against Trader / Member.
c. The filing of an attachment against Trader / Member accounts carried by BullishFx.
d. Insufficient margin, or as per the provisions of BullishFx, that any collateral deposited to protect one or more trading positions on the Trader / Member’s account is insufficient, regardless of current market quotes, to secure the account.
e. Failure of Trader / Members to provide BullishFx requested information in accordance with this agreement.
f. Other circumstances or developments that BullishFx deems appropriate for protection, and BullishFx’s policy, may take one or more, or part of, the following actions:
– Trader / Member fulfills every obligation to BullishFx, either directly or by guarantee of ownership, outside of any funds or property the Trader / Member is in custody or control.
– Sell or buy any or all Currency contracts, securities held or carried for Trader / Member.
– Cancel any or all orders or contracts, or other commitments made on behalf of Trader / Member.
One of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice to Trader / Member, Trader / Member’s personal representatives, heirs, executors, administrators, trustees, or assigns and regardless of whether the property should be borne Trader / Member’s or held jointly with others.
In liquidate positions in a LONG or SHORT-owned Trader / Member, BullishFx may, in its sole discretion, compensate in the same settlement or it may conduct a new long or short positions in order to establish a spread or straddle which may be in a single decision BullishFx advisable to protect or reduce existing positions in Trader / Member account.
Any sales or purchases hereunder may be made according to BullishFx judgment and at its discretion with any interbank or other exchange market where such business is then usually transacted or at a public auction or private sale, and BullishFx may purchase the whole or any part thereof free from any right of redemption.
Trader / Member shall at all times be liable for the payment of any deficit balance of Trader / Member upon demand by BullishFx and in all cases, Trader / Member shall be liable for any deficiency remaining in Trader / Member account(s) in the event of the liquidation thereof in whole or in part by BullishFx y or by Trader / Member.
In the event the proceeds realized pursuant to this authorization are insufficient for the payment of all liabilities of Trader / Member due to BullishFx, Trader / Member shall promptly pay upon demand, the deficit and all unpaid liabilities, together with interest thereon equal to three (3) percentage points above the then prevailing prime rate at BullishFx principal bank or the maximum interest rate allowed by law, whichever is lower, and all costs of collection, including attorney fees, witness fees, travel expenses and the like.
7. COMMISSIONS ACCOUNT AND OTHER CHARGES
Trader / Members must pay all brokerage fee, transaction fee, commissions, and special service charges and regulatory costs because BullishFx from time to time may charge a fee for the account, and all other expenses (including without limitation, cross-currency overnight interest debits, mark-up and mark -down, cost statements, order cancellation charges, account transfer fees and other costs) and wage Bullish FX (including without limitation, the fees charged by any bank, clearing house, a contract market or regulatory organization or its own regulations) of service provided by BullishFx below.
BullishFx may at any time change the schedule of commissions, as well as increase or decrease the cost and / or wages to be paid under this agreement without notice. Trader / Member agrees to be responsible to BullishFx for the over all interest and all amounts due from Trader / Member to BullishFx below, including without limitation, the amount of margin required is not deposited on time in the Account, the interest rate is equal to 3 (three) percentage points above the prevailing interest rate on the main bank BullishFx abroad, or the maximum interest rate permitted by applicable law, whichever is lower.
All fees must be paid to the BullishFx be paid by the Trader / Member when it happens, or is determined by the sole and absolute discretion of BullishFx and other charges directly from the account. In terms of deposits and / or credit balance in the account is insufficient to cover other expenses, the unpaid balance of the fee will automatically become a debit balance in the account, as far as the subject is not covered under the same conditions related thereto as described in Point 6 above.
8. STATEMENT AND CONFIRMATION
Report order confirmation and account statements for the Account shall be deemed correct and shall be conclusive and binding to Trader / Member if not objected in writing within one (1) day after being sent to Trader / Member via email. Demand Margin considered final and binding unless objected to by Trader / Member immediately by email. Part of a written objection made by Trader / Member should be directed to BullishFx and deemed received only if actually been delivered to BullishFx. Trader / Member’s failure to submit a timely objection shall be deemed ratification of all actions taken by BullishFx or Affiliates of BullishFx.
Reports, statements, notices and other communications may be sent to the address designated by Trader / Members from time to time to provide written notification to BullishFx. So all communication is sent either via support ticket or email.
10. BULLISHFX RESPONSIBILITIES
BullishFx will not be responsible for delays in the transmission of orders due to breakdown or failure of transmission or communication facilities, power outage or any other reason beyond the control and anticipation of BullishFx.
BullishFx shall only be liable for its actions directly attributable to negligence, willful misconduct or fraud on the part of BullishFx.
BullishFx is not responsible for any losses arising from the failure of any agents, affiliates or any other party used by BullishFx under this agreement. Because OTC is not a traded exchange market, where the price of a bid or quote BullishFx may or may not be equal to the price of the other OTC market makers.
11. CURRENCY FLUCTUATION RISK
If the Trader / Member directs BullishFx to trade Forex currencies:
a. Any gain or loss that arises as a result of exchange rate fluctuations affecting such currencies will be the sole responsibility and risk of the Trader / Member.
b. All initial and subsequent deposits for margin purposes must be made in United States dollars, or any possible amount BullishFx is set at its sole discretion and adjusted to the Trader / Member’s choice at the time of registration.
c. BullishFx is authorized to convert funds on the Trader / Member’s account for margin to and from the foreign currency at an exchange rate determined by BullishFx based on the prevailing money market prices.
12. RISK ACKNOWLEDGMENT
Trader / Members acknowledge that investing in leveraged transactions and non-leveraged transactions is speculative, involves a high level of risk and is only suitable for people who can risk losing their entire margin deposit.
Trader / Members understand that due to the low margin usually required in OTC trading, price changes in OTC can result in significant losses. Trader / Member ensures that Trader / Member is willing and able, financially, to assume the risk of OTC trading, and in consideration of BullishFx freezing his account, Trader / Member agrees not to hold BullishFx responsible for losses incurred through following trading recommendations or advice or from their employees, agents, affiliates or representatives.
Trader / Members acknowledge that guaranteed profit or freedom from loss is not possible in OTC trading. Trader / Member acknowledges that Trader / Member is not allowed to accept such warranties from BullishFx or from its representatives, agents, affiliates and or other entities. Trader / Members who have registered and had a trading account from BullishFx account would be subject to such warranties or similar representations.
13. TRADING RECOMMENDATIONS
a. Trader / Member acknowledges that (i) any market recommendations and information communicated to Trader / Member by BullishFx or by any person within the company, does not constitute an offer to sell or solicitation to buy OTC contract, (ii) such recommendation and information, although based upon information obtained from sources believed by BullishFx reliable, brokers may only based on the opinion and that such information may not be complete and can be verified, and (iii) BullishFx makes no representation, warranty or guarantee and is not responsible for the accuracy or completeness of the information or recommendation trade submitted to the Trader / Member.
Trader/Member acknowledges that BullishFx officers, directors, affiliates, partners, shareholders or representatives may have positions or may intend to buy or sell currencies that are subject to market recommendations provided to Trader/Members, and that the market position of officials, directors, affiliates, partners, shareholders or representatives of BullishFx shall not be a recommendation that may influence Trader/Member in determining trading positions.
Trader / Member acknowledges that BullishFx makes no representations concerning the tax implications for treatment of contracts.
b. Trader / Member further acknowledges that should Trader / Member members have an agreement of trading authority or control over Trader / Member’s account to a third party (“Trading Agent”), whether on a discretionary basis or non-discretionary, BullishFx will in no way be responsible for reviewing that options and or making recommendations with respect thereto.
Trader / Member understands that BullishFx does not make any warranties or representations regarding the granting of trading authorization to Trading Agents, whether in the form of institutions, or individuals. BullishFx is not responsible for any losses caused by the actions of the Trading Agent appointed by the Trader / Member whether directly or otherwise, BullishFx will not endorse or approve the Trading Agent’s method of operation. If Trader / Member authorizes a Trading Agent to exercise this right through Trader / Member’s account, Trader / Member understands that Trader / Member does so at his own risk.
14. TRADER / MEMBER REPRESENTATIONS AND WARRANTIES
Trader / Member represents and warrants that:
a. Trader / Member of sound mind, have a valid identity and legal competence.
b. No person other than Trader / Member has or will have an interest in Trader / Member’s account (s).
c. Trader / Member hereby warrants that regardless of any determination after the contrary, Trader / Member is suitable to trade OTC and is an institution and / or sophisticated institutional participant.
d. Trader / Member is not currently an employee of the exchange, each company has a market where the majority of the capital stock, any member of the exchange and / or companies listed on the stock exchange, or any bank, or a trust or insurance company, and in this case if the Trader / Member has becomes the employee, Trader / Member will promptly notify BullishFx at its headquarters in writing about the job.
e. All of the information available in the information section of this booklet is correct and complete as of the date hereof and Trader / Member will notify BullishFx immediately of any changes to such information.
15. DISCLOSURE OF FINANCIAL INFORMATION
Trader / Member represents and warrants that the financial information disclosed to BullishFx in this document is an accurate representation of the Trader / Member’s current financial condition. Trader / Member represents and warrants that the Trader / Member has very carefully considered the portion of Trader / Member’s assets which the Trader / Member considers to be Risk Capital.
Trader / Member recognizes that Risk Capital is the amount of money the Trader / Member is willing to put at risk and if lost would not change the Trader / Member’s lifestyle in any way.
Trader / Member agrees to immediately notify BullishFx if Trader / Member had a change in financial condition so as to reduce Trader / Members Net Worth, Liquid Assets and / or Risk Capital.
16. NO GUARANTEES
Trader / Member acknowledges that Trader / Member has no separate agreement with Trading Agent, employee, agent or affiliate regarding Trader / Member’s trading account at BullishFx, including any agreement to guarantee profits or limit losses in Trader / Member’s account.
Trader / Member understands that Trader / Member must authorize every transaction prior to its execution unless Trader / Member has delegated authority to another party by signing a limited trading authorization, and any disputed transactions must be brought to BullishFx Compliance Officer in accordance with the notice requirements of this Trader / Member Agreement.
Trader / Member agrees to indemnify and keep BullishFx from all forms of danger and liability arising from the failure to notify BullishFx Trader / Member Compliance Officer of each of the events mentioned above.
All notices required under this section must be sent to the head office BullishFx.
17. NO WAIVER OR AMENDMENT
No provision of this Agreement may be waived or amended unless the waiver or amendment is in writing and signed by both Trader / Member and an authorized officer of BullishFx.
No waiver or amendment of this Agreement may be implied from any course of dealing between the parties or from any failure by BullishFx or its agents to assert its rights under this Agreement on any occasion or series of occasions.
No oral agreements or instructions to the contrary shall be recognized or enforceable. This instrument and the attachments hereto embody the entire agreement of the parties, superseding any and all prior written and oral agreements and there are no other terms, conditions or obligations other than those contained herein.
18. GOVERNING LAW AND JURISDICTION
This Agreement, and the rights and obligations hereunder of the parties hereto, shall in all respects be governed by, and construed and enforced in all respects by the Hongkong laws governing such matters.
English is the language used as a reference in terms of interpreting all the contents of this agreement and if there is a translation of the contents of the agreement carried out by the Bfx Mobile application or on the BullishFx website into the language used in the country where the Trader / Member is located, it is solely a service provided by BullishFx.
19. BINDING EFFECT
This Agreement, including all authorizations shall inure to the benefit of BullishFx and its successors and assigns, whether by merger, consolidation or otherwise, and shall be binding upon Trader / Member and / or the owner, executive, supervisors, administrators, legal representatives, successors and assigns of Trader / Member.
Trader / Member hereby ratifies all transactions with BullishFx made prior to the date of this Agreement, and agrees that the rights and obligations of Trader / Member in respect thereto shall be governed by the provisions of this Agreement.
This Agreement will continue in effect until terminated at any time and may be terminated by the Trader / Member when the Trader / Member has no open Currency positions and there is no obligation or debt to BullishFx and or ;
After receiving written notice of termination of this Agreement from BullishFx which will be sent via the Bfx Mobile application, email and mail box on the trading account application.
That the termination will not affect the previous transactions made and will not relieve either party of the obligations set forth in this Agreement and also will not relieve the Trader/Member from all obligations arising from the balance deficit.
Trader/Member agrees to indemnify and hold BullishFx, its affiliates, employees, agents, successors and assigns from and against any harm and all liabilities, losses, damages, costs and expenses, including attorneys’ fees, incurred by BullishFx arising out of Trader/Member due to failure to fulfill and timely perform the contents of this Agreement or any of the statements and warranties that are inaccurate and true.
Trader / Member also agrees to immediately pay to BullishFx for all damages, costs and expenses, including attorneys’ fees, incurred by BullishFx to enforce any of the provisions of this Agreement and any other agreement between BullishFx and Trader / Member.
22. TERMS AND HEADINGS
The term “BullishFx” will be considered as BullishFx, divisions, successors and assigns, the term “Trader / Member” means the party or parties who carry out the Agreement, and the term “Agreement” shall include all other agreements and authorizations made by Trader / Member in connection with the maintenance of Trader / Member’s account with BullishFx whenever it is implemented.
Title of clause in this Agreement is inserted for convenience of reference only and should not be deemed to limit or affect the application of the meaning of any of its provisions.
Trader / Member agrees and acknowledges that all conversations regarding Trader / Member account(s) between Trader / Member and BullishFx personnel may be electronically recorded with or without the use of an automatic tone warning device.
Trader / Member further agrees to the use of such recordings and transcripts thereof as evidence by either party in connection with any dispute or proceeding that may arise involving Trader / Member or BullishFx.
Trader / Member understands that BullishFx destroys such recordings at regular intervals in accordance with BullishFx established business procedures and Trader / Member hereby consents to such destruction.
Interest on open positions is paid on a daily basis, regardless of position direction.
I declare to have qualified in age and all other requirements needed to make the agreement and is responsible under Hongkong law.