Thank you for registering as a user in the Forex service of Forex PRICE MARKET LTD. (hereafter refer to as “FPM”）.
The following terms and conditions (these “terms and conditions”) constitute the agreement (the “Terms and Conditions”) between you and FPM regarding your participation in our Forex service operated via http://forexpricemarkets.com(“FPM platform”).
By registering to be our user and accepting these terms and conditions, you indicate your agreement to the Terms and Conditions herein.
Engaging in trades may be risky, especially if you engage in any forex trades or use any other sophisticated trading options. Please don't use any of the trading options if you do not understand these risks.
We may modify these terms and conditions at any time at our sole discretion, by posting on our FPM platform a notice of a change of terms. Your continued use of our service following such change will constitute your agreement to the updated terms and conditions. If any modification is unacceptable to you, your sole recourse is to terminate this agreement. Due to the above, we advise you to frequently visit the FPM platform and review the terms and conditions.
For clearing this terms and conditions, the terms below are to be understood as follows:
FPM is incorporated in Belize holding its Trading in Securities License（License No. IFSC/60/487/TS/16） to provide Forex service.
2.1 Your Agreement with FPM:
The gateway of Forex is provided by FPM, FPM shall not be responsible for any loss and or damage caused from third-Party service.
2.2 FPM provides you with the customer service to collect your KYC materials and support your account management.
FPM provides the implementation of your account on the Platform as follow:
The services provided, including the above, are available to individuals or corporations. All Users are required to abide by this terms and conditions for each product and service.
FPM has the authority to reject this service without stating any reason to the users. Moreover, it has the authority to restrict or suspend a user’s transactions at its own discretion under the applicable laws and regulations.
When you are as the user of platform, you will gain services from FPM account, including account management, Money-in, Forex Trading service and Forex Trading Liquidity service.
FPM has the authority to reject account opening without stating any reason to the users. Moreover, it has the authority to restrict or suspend a user’s transactions at its own discretion under the applicable laws and regulations.
4.1. Account management
You are responsible in maintaining adequate security and control of all User names, passwords, and any other codes that you use to access the Service. You will prevent unauthorized access to or use of the Services using your account, and notify us promptly of any such unauthorized access or use. You must keep your account name, passwords and any other account credentials confidential and not authorize any third party to access or use the Service on your behalf, unless we approve for such use.
You will notify us of any security breach of your account, system or network as soon as possible. You will cooperate with us in the investigation of any suspected unauthorized access to or use of the Services using your account and any security breach of your account, system, or network, and provide us with the results of any third-party forensic investigation that you undertake. You will be responsible, and FPM will have no liability, for all activities that take place with your account, whether authorized by you.
You can conduct Money-in by Local transfer, Crypto currency, Credit card and E-money (Hereafter referred to as “Money-in Solution”) on the platform under your needs. You agree that we have right to reject your money-in quest through due to the remittance info you provided is illegal, incorrect or false.
The available currency will be showed on the platform.
When you request the remittance, the Remittance amount and the currency on the platform shall be chosen by you; once the remittance amount is entered, the amount will automatically be converted to the amount of beneficiary account.
We will carry out the remittance after you save remittance into the designated bank whose information is provided on the platform.
After we process your transaction to the Recipient an e-mail will be sent to you with the following information:
An estimated time when the money will be available to the Recipient.
4.4. You must enter the correct information for transfer within your accounts, Money-in, Money-out. You will be requested to click on the “Submit” button after entering their required information items. After the execution of the transfer’s requests, clients are to consent that they do not have the right to make objections whatsoever and that the transfers are solvent. FPM does not have any liability to its users even if the execution of their requests should fail or be postponed because of errors or defaults due to their request information.
You will be granted the permission to access Forex Trading system through your account. This access only be used by account holder, account holder shall not reproduce or copy this access to the third party.
This access is authorized by financial institution, you acknowledge and agree that financial institution has right to suspend or terminate this access due to illegal activities, the excess of trade limit or the lack of KYC conducted by you. We shall not be responsible for and losses and damages from such suspension or termination.
FPM provides you with an access of liquidity service that allows you to access the site to realize freely trade between currencies. The liquidity service can guarantee that a transaction cay be carried out at current exchange rate or a specified exchange rate and specified quantity; you as the user can conduct Forex transaction by liquidity service, if you don’t be available to this service, any Forex transactions on the platform cannot be operated. The limit of transaction volume will be designated by us based on our business policy, marketing situation and applicable laws; if there is any change about limit, we will update it on the platform.
FPM is an access provider and do not advise on the merits of any transactions or the trading consequences. In entering into any transaction on the Platform, you represent that you have been and will be solely responsible for making your own independent appraisal and investigations into the risks of the transaction. You represent that you have enough knowledge, market sophistication, professional advice and experience to make your own evaluation of the merits and risks of any transaction. We give you no warranty as to the suitability of the forex trade under these Terms and assume no fiduciary duty in our relations with you.
We provide you with the on platform which
A transaction on the Platform may fail for several reasons, including but not limited to change in seller prices, unspecified lot size or unanticipated technical difficulties. FPM is under no circumstances liable for any loss or injury suffered by a failure of a transaction to complete properly. Further, FPM is in no way responsible for notifying you of a transaction failure.
FPM reserve the right to refuse to process, or the right to cancel or reverse, any transaction on the Platform where FPM suspects the transaction involves money laundering, terrorist financing, fraud, or any other type of crime under applicable laws.
The support service of transactions will be executed on our business day (From Am10:00- Pm19:00 GMT+8 except for weekends and the public holidays of China, hereafter refer to “business day”). Any requirement of support service submitted apart from business hours will be carried on the next business day.
All your asset shall be operated according to the Money-out and Money-in policy of bank and service provider; we only provide support with money reflection which means the amount is reflected into your FPM’s account and answering your service inquiry. Your deposit will be reflected when the money is credited to the service provider’s account, the reflection time might be changed due to the difference of service provider; and your digital asset and real money will be remitted to the designated account within three business days after receiving remittance.
We do not have the liability regarding the loss or damage caused by delay from bank or service provider, system failure, repair or maintenance without prior notice, regardless as mentioned in the above.
FPM grants you a personal, non-transferable, non-exclusive license to use the Service as provided to you by FPM. This license is conditioned upon and restricted by this terms and conditions. You may not permit anyone else to copy, modify, create a derivative work of, reverse engineer, decompile or otherwise attempt to extract the source code of the Service, or any part thereof, except to the extent permitted by applicable law.
You may not assign (or grant a sub-license of) your rights to use the Service, grant an interest in or over your rights to use the Service, or otherwise transfer any part of your rights under this terms and conditions. If FPM provides you access to any of the Service in return for a fee, this license is conditioned on your payment of the fees. These Terms do not grant you any license or permission to copy, distribute, modify or otherwise use any application programming interface, notwithstanding any provision to the contrary. No title to or ownership of any proprietary rights related to the Service is transferred to you pursuant to these Terms. All rights not explicitly granted to you under these Terms are reserved by FPM.
In connection with your use of the Services, you may be made aware of or offered services, content, features, products, offers and promotions provided by third parties (individually and collectively, “Third Party Services”). We may make Third Party Services available to you. However, our inclusion or promotion of Third Party Services does not reflect a sponsorship, endorsement, approval, investigation, verification, certification or monitoring of such Third Party Services by FPM. Your acquisition of Third Party Services, and any Forex of data between you and any non-FPM provider, is solely between you and such provider. FPM does not warrant Third Party Services in any way. Under no circumstances will we have any liability for Third Party Services. Use Third Party Services at your own risk, and under terms and conditions between you and the provider of Third Party Services that are different than the provisions of these Terms.
The exchange rate issued on the platform is provided by relevant financial institutions which is certificated by legal authority, we shall not be responsible for any loss and damage from the exchange rate.
Customers are to comprehend the trading risks, it is affected by foreign exchange rates fluctuations. Customers are to consent to FPM’s decision that their transaction is not to be protected under any applicable laws and regulations about the fluctuations of exchange rates.
FPM reserves right to determine and change the territory, settlement currency, the lowest amount and the highest amount of Money transfer under the service nature, the authority policy, Partner’s requirement and applicable laws; in such case, FPM will notify the Customer in advance 30 days.
For individual user, user must be at least 18 years old, or such higher age required by applicable law, to register for an account; for corporate user, user must be a solely and legal entity to operate its business under applicable law. User shall provide FPM and its affiliates with accurate, current, and complete information as prompted by the registration process or as FPM may, from time to time request, and keep such information updated. User authorizes FPM to make such inquiries that it considers necessary to validate user’s identity and User agrees that FPM may do so using third party service providers.
FPM will need confirmation of your ID documents in applications for an account, adhering to identification procedures considered necessary, including information of name, address, date of birth, gender and sometimes also other information. In the event of default or false information, or when FPM should consider it necessary for other reasons, FPM reserves the authority to reject the opening of an account or to close it at FPM´s own discretion. FPM also reserves the authority to request additional identification upon any transaction in an amount equal to or above the sum of fifteen thousand dollars or such other amount as may from time to time be prescribed by the Belize Authority, whether conducted as a single transaction or several transactions that appear to be linked and where the amount of the transaction is unknown at the time of the transaction,; or you are from higher risk area under the Money Laundering and Terrorism (Prevention) Act.
You are to consent to this terms and conditions that all information submitted and entered be correct, and that FPM has the authority to control the information by any means. In the event of any change in the information registered, users must notify FPM immediately.
Your Personal data which includes account info, KYC documents and other personal Data can be viewed and updated through FPM, which are protected by a password. You agree that under the applicable money laundering legislation and applicable laws, Client’s Personal data cannot be deleted and transmitted, it will be stored in FPM’s servers during the agreement period and after the end of the relationship.
FPM will take appropriate security measures to protect Personal Data. FPM will ensure that Personal Data is adequately protected against unauthorized or accidental access, processing, erasure, or use by other people without authority. FPM’s platform adopts industrial standard encryption SSL technology and a cutting-edge firewall system to effectively prevents unauthorized access and fully safeguard your information from data theft. FPM uses reliable servers that meet the security standards to store your Personal Data. Fully aware of the importance of Personal data, only especially authorized staff within FPM’s permission have access to your personal data.
You agree that all documents and records regarding identity, address and transactions should be kept throughout the whole business relationship with the user and for a period of 5 years after its termination.
In accordance with guidelines on Money Laundering and Terrorism (Prevention) Act, FPM will disclose its information if requested by lawful authorities for combating money laundering and terrorist financing.
FPM will conduct its business in conformity with the highest ethical standards in the countries in which it does business, and will adhere to all their laws and regulations pertaining to financial organizations. It is vital for all FPM customers, agents, employees and associates to fully understand all measures that may violate applicable AML or counter-terrorism statutes.
FPM has the right to request relevant legal documentation or to assist in the investigation from clients regarding Forex transaction. If you refuse to assist in the investigation or to provide the legal documentations, FPM has the right to refuse or limit your transactions. FPM has no obligation whatsoever to compensate or owe any responsibility to you. FPM may suspend trades or cancel an account at its own discretion in accordance with demands from legal authorities concerning money laundering, terrorist financing, criminal cases and such. FPM does not have the responsibility to compensate for losses incurred by this.
You will be responsible for indemnifying any loss or damages incurred on FPM for your illegal activity.
Fee schedule is separated from this Terms and Conditions. The fee details are described in the Fee schedule page. FPM reserves the authority to determine fees, to revise and renew them, from any currency account under Marketing, applicable laws and Bank policy. You shall continuously monitor the renewal or revision of fees. Renewals or revisions of the Fee Schedule will continuously be updated on FPM’s official website. Should a user not cancel an account after the renewal or revision of the Fee Schedule on the official website of FPM, FPM will assume that the user agrees to the revised or renewed fees.
You agree that any transaction fee related to deposit and remittance, including but not limited to the fee produced by bank, FPM Platform and service provider’s platform and will be incurred by you.
This terms and conditions shall stay in force for an indefinite period of time, unless terminated by FPM or User as described under Section 17. This terms and conditions shall stay in force even though one or both of the parties may change its organizational form.
FPM has the sole right to suspend or terminate service without prior notification to a user in the following instances:
User is responsible for fees associated with the suspension or termination in the cases above. FPM is not responsible for any loss or damages the user might suffer because of suspension or termination due to violation of the conditions of this terms and conditions.
Our fees do not include any taxes, levies, duties or similar governmental assessments of any nature, including, for example, value-added, sales, use or withholding taxes, assessable by any jurisdiction whatsoever (collectively, “Taxes”). You are responsible for paying all Taxes associated with your trading hereunder. If we have the legal obligation to pay or collect Taxes for which you are responsible, we will invoice you and you will pay that amount unless you provide us with a valid tax exemption certificate authorized by the appropriate taxing authority.
For clarity, we are solely responsible for Taxes assessable against us based on our income, property and employees (“FPM Taxes”). If applicable law requires you to withhold FPM Taxes from your payment(s) to FPM, you will provide reasonable assistance to FPM in connection with such FPM Taxes.
FPM may, in its sole discretion, make unscheduled deployments of changes, updates or enhancements to the Service at any time. We may add or remove functionalities or features, and we may discontinue the Service altogether. Depending on your device settings, we may automatically check your version of the App, and automatically download to your device new versions of the App.
FPM Website, Links, any content thereon, including all FPM’ marketing and/or promotional materials and demographic and other information and data therein, Referrals, and all software, tools, documents, processes, methodologies, know-how, and any additional intellectual or other property used by or on behalf of FPM together with all copyrights, trademarks, patents, trade secrets and any other intellectual property rights attached and/or related thereto (collectively, “FPM Property”) and any derivatives and/or modifications thereto, are and shall remain the sole and exclusive property of FPM and/or its licensors. Nothing in this Terms and Conditions shall confer on the Affiliate any right of ownership in the FPM Property and all use thereof by the Affiliate shall inure to the benefit of FPM.
In the event of death of a User, the account shall be terminated as described in section 17. The assets of the account shall be transferred to the account of an inheritor who must provide legal documents to prove the demise of the account holder and the inheritor´s relationship to the account holder.
FPM may at its own discretion freeze an account till FPM has received proof of the account holder’s demise and of and the inheritor’s relationship to the account holder. When FPM receives this documentation, FPM shall transfer the remaining assets to an account appointed by the inheritor and close the original account.
In the event of death of the authorized account holder of a corporation User, the corporation shall provide FPM with a warrant of attorney for a new account holder. FPM will then register this, and transfer authorization of the account to this new person.
FPM will only conduct a formal checking of the legal documents provided by an inheritor or a relevant third party and shall not have responsibility of any virtual checking; so FPM shall not be responsible for loss or damages caused by false information provided by inheritor or the relevant third party.
FPM has the right to collect the transaction fees incurred by property inheritance.
ACCESS TO AND USE OF THE SERVICE IS AT YOUR SOLE RISK. FPM PROVIDES THE SERVICE “AS IS”, “WITH ALL FAULTS” AND “AS AVAILABLE”. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, FPM MAKES NO (AND SPECIFICALLY DISCLAIMS ALL) REPRESENTATIONS OR WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, INCLUDING, WITHOUT LIMITATION: (A) ANY WARRANTY THAT THE SERVICE WILL BE UNINTERRUPTED, ERROR-FREE OR FREE OF HARMFUL COMPONENTS, THAT THE CONTENT WILL BE SECURE OR NOT OTHERWISE LOST OR DAMAGED; (B) ANY IMPLIED WARRANTY OF MERCHANTABILITY, SATISFACTORY QUALITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT; OR (C) ANY WARRANTY ARISING OUT OF ANY COURSE OF PERFORMANCE, COURSE OF DEALING OR USAGE OF TRADE. FPM MAKES NO WARRANTY OR REPRESENTATION AND DISCLAIMS ALL RESPONSIBILITY AND LIABILITY FOR: (I) THE COMPLETENESS, ACCURACY, AVAILABILITY, TIMELINESS, SECURITY OR RELIABILITY OF THE SERVICES OR ANY CONTENT; (II) ANY HARM TO YOUR COMPUTER SYSTEM, LOSS OF DATA, OR OTHER HARM THAT RESULTS FROM YOUR ACCESS TO OR USE OF THE SERVICE OR ANY CONTENT; (III) THE DELETION OF, OR THE FAILURE TO STORE OR TO TRANSMIT, ANY CONTENT AND OTHER COMMUNICATIONS MAINTAINED BY THE SERVICE; AND (IV) WHETHER THE SERVICES WILL MEET YOUR REQUIREMENTS OR BE AVAILABLE ON AN UNINTERRUPTED, SECURE, OR ERROR-FREE BASIS. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED FROM FPM, ITS AFFILIATES, RELATED COMPANIES, OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, REPRESENTATIVES, PARTNERS, OR LICENSORS (COLLECTIVELY, “RELEASED ENTITIES”), OR THROUGH THE SERVICES, WILL CREATE ANY WARRANTY OR REPRESENTATION.
The Forex trading involves significant risk. Prices can and do fluctuate on any given day. Such price fluctuations may increase or decrease the value of your assets at any given moment. Any currency - virtual or not - may be subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur because of buying, selling or trading anything on a market.
Forex trading also has special risks not generally shared with official currencies or goods or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or by commodities such as gold or silver, Vitual currency are backed by technology and trust. There is no central bank that can issue more currency or take corrective measures to protect the value of currencies in a crisis.
You should carefully assess whether your financial situation and tolerance for risk is suitable for buying, selling or trading Forex.
You acknowledge that there are risks associated with utilizing an Internet-based trading system including the failure of hardware, software, and Internet connections whatever it comes from any party. You acknowledge that FPM shall not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when trading via the Services, howsoever caused. If you get any profit produced from the platform error, bug and other system problem, FPM has right to recover your balance to previous amount before illegal profit gained. And FPM shall not take any responsibilities for losses and damages caused from the recovery.
You agree to indemnify and hold FPM and its subsidiaries, affiliates, officers, agents, employees, partners, suppliers, and licensors harmless from any claim, action, investigation or demand, including reasonable attorneys’ fees, arising out of or relating to: (a) User information; (b) use of the Service by you or under your account; or (c) your violation of these Terms or of any third party rights. FPM will use commercially reasonable efforts to notify you of any such claim, action, investigation or demand that is subject to your indemnification obligation.
All disputes arriving under this Terms and Conditions shall be resolved by the court located at the registration address of FPM. All disputes hereunder shall be governed by the laws of Belize. All parties of this Terms and Conditions consent to the jurisdiction of Belize.
Except as otherwise specified in these Terms, all notices hereunder shall be in writing and shall be effectively given upon: (i) personal delivery, (ii) delivery of certified or registered mail, or by courier service, (iii) the first business day after sending by email. Notices shall be deemed to have been given, delivered and received upon receipt or attempted delivery (if receipt is refused), as the case may be, and the date of delivery identified by the applicable postal service on any return receipt card or confirmation by courier service, even if such delivery was refused. Notices to you will be addressed using the contact information you provided to us in connection with your account. Notices to us will be address to us at our contact information below. Either party may update their contact information for notice purposes by giving the other party appropriate notice under this Section.
Our address for notices: firstname.lastname@example.org
FPM and you are not legal partners or agents of each other; instead, our relationship is that of independent contractors. This terms and conditions is solely for your and our benefit. It is not for the benefit of any other person, except for permitted successors. You may not assign or delegate these Terms, your obligations, rights or responsibilities without our prior permission. FPM may assign or delegate these Terms, its obligations, rights and responsibilities, in whole or in part, at any time with or without notice to you.
If any provision of these Terms is found by a court of competent jurisdiction or arbitrator to be invalid or unenforceable, the parties agree that the court or arbitrator should endeavor to give effect to the parties’ intentions as reflected in the provision, and the other provisions of these Terms remain in full force and effect. If the court or arbitrator cannot do so, then the parties agree that the court or arbitrator should strike the invalid or unenforceable provisions, and that the remaining provisions be given their full force and effect.
By accepting these Terms electronically (Clicking “I Agree”), accessing or using the Services, purchasing Services, registering for an account with us, executing these Terms, or accepting an Order that references these Terms, you are accepting and agreeing to these Terms and the policies and guidelines referenced in these Terms. If you do not agree to these Terms then you may not use the Services.
This Terms and Conditions is being updated continuously with FPM’s decisions and will take effect from the day of update. FPM reserves the right to determine all the terms, regulations and procedures concerning transactions that are not mentioned in this article.
FPM will notify its users of amendments of the terms and conditions content on FPM’s official website. After an amendment, Users are to comply with it. FPM shall assume that users have consented to the changes in the services and transactions unless they apply for termination of their service.
Updated May 23, 2019