This Agreement describes the terms, conditions and risks applicable to your use of our services available under the domain and sub-domains of www.union-forex.com. If you have any questions regarding this Agreement please contact us at support@union-forex.com.
You must read, agree with and accept all of the terms and conditions contained in this Agreement without modifications, which include those terms and conditions expressly set forth below and those incorporated by reference, before you may become a customer of UNION FOREX. By continuing to access or use the Web site, you agree to follow the Terms and Conditions of this Agreement as they may apply to you. This Agreement is effective upon acceptance in registration for newly registering customers, or upon receipt of e-mail notification by other users.
Registration of Information and Requirements:When you register for using the UNION FOREX website and platform, you may require providing the certain information required by UNION FOREX (UFX). Therefore You agree to provide true, accurate, current and complete information about yourself during the Registration process, and you also agree not to impersonate any person or entity, misrepresent any affiliation with another person, entity or association, If you are registering as or for a business entity, you hereby declare that you have the authority to bind that entity to this Agreement. UNION FOREX (UFX) will treat with care the information you entrust to the Company, in accordance with the disclosures it provides during the Registration process and in its Privacy Policy. During the Registration process you will be asked to choose a user name and password that will be used by you every time you access the Web site to use the service. For your protection and that of other Web site users, you should not share your Registration information (including your password and username) with another person or business entity for any purpose including, but not limited to, facilitating access and unauthorized use of the Service. You alone are responsible for all acts or omissions that occur within the Web site through the use of your Registration information.
Privacy Policy:UNION PARTNERS is committed to protecting the confidentiality of UNION FOREX (UFX) customer's information. It is the Company's policy not to disclose customer's information to non-affiliated third parties, except with the consent of the customer or when required by law. The Company is providing this Privacy Policy to help you understand how we protect the privacy of financial and other non-public personal information about you.
Categories of Information We Disclose: We do not disclose any non-public personal information about our customers, or our former customers, to anyone, except as permitted by law and for authentication of the client's identity.
Confidentiality and Security: We restrict access to non-public personal information about our customers, to those employees who need to know such information, in order to provide service to your account. We maintain physical, electronic and procedural safeguards, which comply with all applicable laws, in order to safeguarding your non-public personal information.
Privacy statement: We view customers' privacy and the protection of information concerning them, to be of prime importance. We store and process your information on computers located in the USA. Physical and technological security devices protect these computers. If you object that we handle your information in such manner, please do not use our services. We shall not sell or rent your personal information to third parties for any purposes, without your explicit consent and we shall only use your information as described in our Privacy Policy.
Agreement (Online Service): This Agreement is made by and between UNION PARTNERS and you for using UNION FOREX website and platform. This Agreement applies to both the UNION FOREX Web site and trading platform, as well as to the electronic content and or software currently contained on the Web site that supplies the customer with real time information about the exchange rate of some currencies, as well as with the program facilities for executing trading transactions in the foreign exchange market via the web site, telephone and any other features, content or services that the Company may add in the future.
Membership Eligibility:Our services are available to and may only be used by individuals or companies who can form legally binding contracts under the law applicable to their country of residence. If you are a negligible, you may not use this service. IF YOU DO NOT QUALIFY, PLEASE DO NOT USE OUR SITE.For avoidance of doubt, we shall not be responsible for any unauthorized use by minors of our Services in any way or manner. Without derogating from the above provision, we shall not be responsible for verifying and/or checking whether you do not possess such sufficient knowledge and/or experience, nor shall we be responsible for any damage and/or loss incurred by you as a result of insufficient knowledge and/or experience. Legal Boundaries: Without limiting the previous, you understand that laws regarding financial contracts vary throughout the world, and it is your obligation alone to ensure that you fully comply with any law, regulation or directive, relevant to your country of residency with regards to the use of the Web site. For avoidance of doubt, the ability to access to our Web site does not necessarily mean that our Services, and/or your activities through it, are legal under the laws, regulations or directives relevant to your country of residency. This Web site does not constitute, and may not be used for the purposes of, an offer or solicitation to anyone in any jurisdiction in which such offer or solicitation is not authorized, or to any person to whom it is unlawful to make such an offer or solicitation. Access to this Web site, and the offering of financial contracts via this site, may be restricted in certain jurisdictions, and, accordingly, users accessing this site are required to inform themselves of, and to observe, such restrictions. You hereby declare that the moneys invested in your account with the Company do not originate from drug trafficking, abduction, or any other criminal activity.
Limited License:UNION PARTNERS grants you a non-exclusive, non-transferable and limited personal license to access and use its Web site. This permission is conditioned on your continued compliance with the terms and conditions of this Agreement. You agree not to "deep-link" to the Web site, resell or permit access to the Web site to others, and not to copy any materials appearing on the Web site for resale or for any other purpose to others without the prior written consent. For avoidance of doubt, you shall be responsible and bound by any unauthorized use of the site, made in breach of this section. You agree to use the information received from the information systems of UNION FOREX (UFX) for the sole purpose of executing transactions inside and within the UNION FOREX (UFX) Web site. You further agree not to use any electronic communication feature of a Service on the Site for any purpose that is unlawful, tortuous, abusive, intrusive on another's privacy, harassing, libelous, defamatory, embarrassing, obscene, threatening or hateful. The license granted under this Agreement will terminate if UNION FOREX (UFX) believes that any information provided by you, including your e-mail address, is no longer current or accurate, or if you fail to otherwise comply with any term or condition of this Agreement and all rules and guidelines for each service. Responsibility of UNION FOREX (UFX): UNION FOREX will supply you with the informational and technical means to use its web site in a twenty-four-hour mode of operation starting Sunday 22:00 GMT to Friday 21:00 GMT except on official holidays in the USA and Europe. UNION FOREX (UFX) will fulfill to the best of its abilities all your trading orders, keep the register of your orders and of their fulfillment, and will provide you with necessary extracts upon your request.
Tax collection:You know, understand and agree that, in general, UNION FOREX (UFX) does not collect tax for any authority in any form or manner. Without limiting the foregoing, it is your obligation alone to calculate and pay all taxes applicable to you in your country of residence, or otherwise arising as a result of your trading activity from the use of the Company's website. Without derogating from your sole and entire responsibility to perform tax payments.
Risk Statement:You agree to use the Web site at your own risk. Without limiting the foregoing, the financial services contained within this site are suitable only for customers who are able to bear the loss of all the money they invest, and who understand the risks and have experience in taking risks involved in the acquisition of financial contracts. International currency prices are highly volatile and are very difficult to predict. Due to such volatility, in addition to the spread that UNION FOREX (UFX) adds to all calculations and quotes (as described below in further detail), no financial contract purchased or other Service offered in our Web site (whether or not the payout exceeds the premium amount) may be considered as a safe trade. The maximum loss that may be incurred by any customer is the amount of money paid by them to UNION FOREX. Stop Loss Orders shall be executed either at the exact exchange rate selected by the customer, where the amount will be calculated automatically, or at the exact amount of loss selected by the customer, where the exchange rate will be calculated accordingly. A transaction of that nature shall be executed as soon as the distinctive ("indicative") exchange rate is found on the financial information systems which, including the Company's spread, is either identical to the order given by the customer, or indicates an identical amount of loss declared by the customer. The calculation of the price to be paid (or the payout to be received) for financial contracts on this site, at the time the financial contract is purchased or sold, will be based on UNION FOREX 's best estimate of market prices and the expected level of interest rates, implied volatilities and other market conditions during the life of the financial contract, and is based on a complex arithmetic calculation. The calculation will include a spread in favor of UNION FOREX (UFX). The financial contract prices (or the payout amounts) offered to customers speculating on market or index prices, may differ substantially from prices available in the primary markets where such contracts are traded, due to the spread favoring UNION FOREX in the price calculation system referred to above. UNION FOREX does not provide a market amongst or between customers for investments or speculations. Each financial contract purchased by a customer via this site is an individual Agreement made between that customer and the Company, and is not transferable, negotiable or assignable to or with any third party.
Use & Access to the Site:You shall be responsible for providing and maintaining the means by which to access the Web site, which may include, but is not limited to, a personal computer, modem and telephone or other access line. You shall be responsible for all access and service fees necessary to connect to the Web site and assume all charges incurred in accessing such systems. You further assume all risks associated with the use and storage of information on your personal computer or on any other computer through which you will gain access to the Web site and the services (hereinafter referred to as “computer” or “your computer”). You represent and warrant that you have implemented and plan to operate and maintain appropriate protection in relation to the security and control of access to your computer, computer viruses or other similar harmful or inappropriate materials, devices, information or data. You agree that UNION FOREX will not be liable in any way to you in the event of failure of or damage or destruction to your computer systems, data or records or any part thereof, or for delays, losses, errors or errors resulting from the failure or mismanagement of any telecommunications or computer equipment or software. You will not transmit to or in any way, whether directly or indirectly, expose UNION FOREX providers to any computer virus or other similarly harmful or inappropriate material or device.
Acquisition of a financial contract is completed when the financial contract has been customized, the premium (or the margin, as the case may be) has been calculated and payment has been verified. You agree to be fully and personally liable for the due settlement of every transaction entered into under your account with the Company. You are responsible for ensuring that you alone control access to your account, and that no minor or other person is granted access to trading on the web site using your account. In any case, you alone remain fully liable for any and all positions traded on your account, and for any credit card transactions entered into the Site for your account. You agree to indemnify the Company fully in respect to all costs and losses whatsoever as may be incurred by the Company as a result, direct or indirect, of your failure to perform or settle such a transaction.
Limitation of Liability:IN NO EVENT SHALL UNION PARTNERS Ltd. and the UNION FOREX (UFX), ITS OFFICERS, DIRECTORS OR EMPLOYEES BE LIABLE FOR LOST PROFITS OR ANY SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR IN CONNECTION WITH OUR WEB SITE, OUR SERVICES OR THIS AGREEMENT (HOWEVER ARISING, INCLUDING NEGLIGENCE) EXCEPT AS STATED IN THIS AGREEMENT.THE LIABILITY OF UNION PARTNERS Ltd. and the UNION FOREX (UFX), ITS OFFICERS, DIRECTORS OR EMPLOYEES, TO YOU OR ANY THIRD PARTIES IN ANY CIRCUMSTANCE IS LIMITED TO THE AMOUNT OF MONEY YOU TRANSFERRED OR DEPOSITED IN YOUR ACCOUNT AT UNION FOREX IN RELATION TO THE TRANSACTION GIVING RISE TO SUCH LIABILITY.UNION FOREX (UFX) rights: UNION FOREX reserves the right to suspend the operation of this site or any part or sections of it. In such an event, UNION FOREX may, at its sole discretion (with or without notice), close out the customers' open financial contracts at prices it considers fair and reasonable at such a time and no claims may be entertained against the Company in connection thereto.
UNION FOREX may, at its sole discretion, impose volume limits on Customer accounts. Contract payouts shall be determined by UNION FOREX by reference to the daily values reported on this Web site relevant to the inter bank trading data received by the Company for Forex quotes, subject to the terms that UNION FOREX shall have the right to make corrections to such data in the event of miss-priced or typographically incorrect data.
Force Major:You agree that UNION FOREX (UFX) will not be liable in any way to you or to any other person in the event of force major, or for the act of any Government or legal authority, or for the failure of or damage or destruction to its computer systems, data or records or any part thereof, or for delays, losses, errors or omissions resulting from the failure or mismanagement of any telecommunications or computer equipment or software. The parties shall be released of all responsibilities for partial, full or non-fulfillment, as well as for improper fulfillment of the obligations under this Agreement, if such non-fulfillment or improper fulfillment was a result of extraordinary events, which occurred after this Agreement was concluded and which the party could not either foresee or prevent (natural calamities, wars, armed conflicts etc.).UNION FOREX (UFX) does not represent, warrant or guarantee that you will be able to access or use the Web site at times or locations of your choosing, or that UNION FOREX (UFX) will have adequate capacity for the Web site as a whole or in any geographic location. UNION FOREX (UFX) does not represent, warrant or guarantee that the Web site will provide uninterrupted and error-free service. UNION FOREX (UFX) does not make any warranties or guarantees with respect to the Web site and its content, including but not limited to, warranties for merchantability or fitness for a particular purpose. Without limiting the foregoing UNION FOREX (UFX) will not be responsible for an impossibility to execute orders and requirements due to failures in the operation of informational systems caused by technical faults, which are beyond its control.
Hyperlinks:UNION FOREX (UFX) may provide a link to other sites that are controlled or offered by third parties. Such link to a site or sites is not an endorsement, authorization, sponsorship or affiliation with respect to such site, its owners or its providers. UNION FOREX (UFX) cautions you to ensure that you understand the risks involved in using such sites before retrieving, using, relying upon or purchasing anything via the Internet. Links to these Web sites are provided solely for your convenience, and you agree that under no circumstances will you hold UNION FOREX (UFX) liable for any loss or damage caused by use of or reliance on any content, goods or services available on other sites.
Trademarks and Copyrights:All content, trademarks, services marks, trade names, logos and icons are the property of UNION FOREX (UFX) or its affiliates or agents and are protected by copyright laws and international treaties and provisions. You agree not to delete any copyright notices or other indications of protected intellectual property rights from materials that you print or download from the Web site. You will not obtain any intellectual property rights in, or any right or license to use such materials or the Web site, other than as set out in this Agreement. Images displayed on the Web site are either the property of UNION FOREX (UFX) or used with permission. You agree not to upload, post, reproduce or distribute any information, software or other material protected by copyright or any other intellectual property right (as well as rights of publicity and privacy) without first obtaining the permission of the owner of such rights and the prior written consent of UNION FOREX (UFX).
Technical Problems:UNION FOREX (UFX) shall not be liable, and you agree not to hold or seek to hold UNION PARTNERS and UNION FOREX (UFX) web site or any of its 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.
Governing Law: The laws of Switzerland, without regard to conflicts of law principles thereof, shall govern this Agreement. This is the case regardless of whether you reside or transact business with UNION FOREX (UFX) anywhere else in the world. If any part of this Agreement is unlawful, void or unenforceable, that part will be deemed sever able and will not affect the validity and enforceability of any remaining provisions. The parties recognize electronic and magnetic recordings as evidence when settling disputable matters, in order to state any facts concerning the obligations for trading operations in the FOREX market.
Disclosures:The services provided under this Agreement, which are limited to "Day Trading" and "Limit Orders", are provided by UNION PARTNERS LTD. registered in London – UK, through UNION FOREX (UFX) website.
Please read and understand the following points:
1-Day-Trading position may be extended to the following day, as presented to Customer on the site. Such extension is subject to Renewal Fee at the rate and time as specified on the site. Company shall collect such Renewal Fee from the Free balance in the Customer’s account held with the Company. In case there are no sufficient funds in Customer’s free balance to cover such fee(s), Customer herby agrees that Company may charge, at its sole discretion, such fee(s) from Customer’s credit card(s). Accordingly, any surplus balance, after paying the said fee(s) will be credited to the Customer’s balance.
2-Where being unable to collect such fee(s), Company reserves the right to close part, or all, of Customer’s open positions, in order to facilitate such.
3-Charge. In spite , Customer shall be liable for promptly paying such fee(s) to Company even if Customer has had full loss of all margins deposited by him.
4-The high level of leverage effect possible in conducting foreign currency transactions stems from the fact that it is only necessary to pay relatively modest margins or guarantees in relation to the scope of the contract.
5-The result of the above is that even a slight fluctuation of the market could mean substantial gains when these fluctuations are in your favor, but that could also mean considerable losses if the fluctuations are to your detriment.
6-No system exists that could assure you that transactions on the foreign currency market should bring you great benefits, nor is it possible to guarantee, that your transactions will yield favorable results.
7-Even though the foreign currency markets are fluid (liquid) as compared with other financial and exchange markets, the market conditions might at times render the execution of an order or of a limit order at a stipulated price impossible.
8-The amount you could lose in a transaction carrying limited risk will never be more appreciable than that which you can lose in transactions having no pre-determined limit on loss.
9-Nevertheless, even though the extent of the losses could be subjected to an agreed upon limit, the risk of incurring losses could be higher, and that loss could occur in a relatively short period of time.
10-It is possible that some unfavorable situations on the market could occur, in a relatively short period of time, resulting in the total loss of your investment.
11-In deposit of an additional guarantee is not obligatory in this case, UNION FOREX (UFX) reserves the right to close the outstanding balances without the customer's consent.
12-The risk information presented here does not reflect all of the risks as well as other important aspects intrinsic to the FOREX market. Therefore, before starting to trade, you should learn the specifics of trading on FOREX markets in detail.
13-You should conclude an Agreement for opening and/or closing transactions on the FOREX market only if you are absolutely sure of the size of its possible risk and consequences, and if you understand in detail the scope and range of your rights and obligations.
14-Phone call recording: UNION FOREX (UFX) records, at its sole discretion, telephone calls made from and to its offices. You hereby agree that telephone calls made, either by you contacting UNION FOREX (UFX), or when being contacted by UNION FOREX (UFX), may be recorded by the Company.
Deposits and withdrawals:
1-Withdrawal orders: The provision of documentation as may be required from time to time by AML regulations, Credit Card companies and UNION FOREX (UFX), is a prerequisite, prior to the execution of a withdrawal order.
2-Credit card deposits may be, according to credit card companies' regulations, returned to same credit card when a withdrawal is performed. A withdrawal to a bank account where initial deposits have been performed by credit cards will be executed back to credit card or to bank account at company's discretion. Withdrawals to bank account may take a longer time period, due to additional security procedures.
3-Credit Card Deposits Variance: When choosing an account base currency other than USD, your credit card may be debited sums, which due to exchange rates and credit card companies’ fees may slightly vary from the initial sum that has been deposited by you in the account base currency. You hereby accept that such variations may occur and you hereby affirm that you shall not seek to object or charge this back. Note that when Using USD as account base currency this phenomena will be avoided.
4-When depositing by a Bank Transfer, as required by anti money-laundering regulations, you are required to use only one bank account, which is in your country of residence and in your name. An authentic SWIFT confirmation, showing the origin of the funds, must be sent to UNION FOREX (UFX). Failure to submit such SWIFT may result in the return of the deposited amount, hence preventing the deposit of such pending amounts to your UNION FOREX (UFX) account. Any withdrawal of funds, from your UNION FOREX (UFX) account to a bank account, can only be refunded to the same bank account that the funds were originally received from.
5-Alternative payment methods (internet payment vendors; money transfer services; etc.): when depositing funds using a facility other than Credit Cards and/or Banks, you agree to, and acknowledge being bound by, the regulations and rules of such service, including, but not limited to, fees and other restrictions. UNION FOREX (UFX), at its sole discretion, may execute withdrawals to a facility other than the facility used for the original deposit, in accordance with anti money-laundering regulations.