Legal Information and Ownership of Website
CIBfx Limited (CIBfx) is a Registered IBC in St. Vincent and the Grenadines #24120 with website being www.CIBFX.com ("Website"), which includes all products and services offered by CIBFX, is and remains the sole property of the Company. All rights are reserved in and for the Company. CIBFX is the owner of all the intellectual property rights, including trade names, trademarks, logos and the trade names in and are exclusive to CIBFX at all times. Except where expressly stated to the contrary, copyright in the underlying HTML, text, graphics, audio clips, video clips and other information and material is owned by the Company. No person or entity may alter, modify, reproduce, distribute, display, exploit, transmit, transcribe, reproduce, redistribute, copy, post, store or translate into any other form, any materials or media from the Website, without obtaining prior written permission from CIBFX.
Access to Website and Disclaimer
By accessing and/or using the Website and the services so offered, the User of the Website agrees to be bound by the terms and conditions herein, at any given time, in any given location. The Company reserves the right to use its discretion to suspend, modify, amend or cancel any access to the Website, or any part thereof, including the products and services so offered through the Website, at any time, and no claims will be considered by the Company related to such. The Company may amend the terms and conditions, information and materials within the Website, at any time and without prior notice and therefore it is for the User to stay up to date with all information and or changes to the Website. The User assumes the responsibility and obligation to ensure compliance with the laws, by-laws, regulations, directives applicable in the country of residence. The User of the Website will be held responsible for any unauthorized use of the Website or any illegal act related to such Website. The User understands that the Website is not a solicitation to buy or an offer to sell any product and/or service, to any person and/or entity, in any jurisdiction, where such product and/or service would be considered as unlawful under the laws of such specific jurisdiction. The website can be accessed worldwide and therefore some of the financial instruments described within the Website might not be permitted for investing in some regions, therefore it is the User in such cases will hold Company harmless of any consequence that may occur as a result of any impediment and/or restriction(s). Trading in financial instruments can result in both losses as well as profits. The Company does not offer its products and services to E.U. Residents, U.S citizens and residents, U.k. & Israel Citizens, Islamic state of Iran Citizens Nor to St. Vincent and the Grenadines citizens and residents.
These terms and conditions are in addition to any agreement or any other supplementary document(s) between Company and User.
The User is responsible and assumes all risk associated with the use of and storage of information on the User's Computer or other Medium whereby access and use of the Website can be made.
The Company does not guarantee that access to the Website and/or any of the products or services will be available at all times, or in any given location at any specific time. The Company will not be held liable for any consequential, incidental, special, punitive, or exemplary damage(s) of whatsoever nature, arising out of any use or inability to us the Website or any of the products and/or services herein, nor will the Company be held liable to the User for any lost profits, trading losses, damages that may result from use or loss of use of the Website and/or third party content, any inconvenience or delay, including any loss resulting from a cause over which Company has no control over, including failure of communication lines. By using the Website, the User agrees to indemnify and hold the Company and if any third party content providers, harmless from and against any and all claims, losses, liabilities, costs and expenses (including but not limited to attorneys' fees) arising from the use of the CIBFX Website, or any violation of the terms and conditions.
Data provided via the Website is intended only for informational and private use purposes. The User may obtain the advice of independent investment, financial, legal and tax advisors, if desired, before proceeding with an investment. All information provided via the Website should not be read, interpreted or construed as providing any investment advice by the Company, or its Employees, Officers, Directors, Affiliates, Agents, Service Provider and/or Licensors. This Website does not take into consideration any investment goals, financial situation or specific requirements of any User. Any person and/or entity should carefully consider their financial circumstances prior to entering into any transaction(s) and/or Agreement(s).
Any information that the Company has obtained from a User, through the use of the Website is at all times held in confidence and for lawful purposes. Information so obtained is only subject to a disclosure in cases of request imposed by any relevant supervisory body, legal request subjecting the Company to disclose such information(s), or in cases where disclosure of such information is necessary to protect any of Company's legal obligations and/or rights.
The Company may use "Cookies", which are minute files containing information that websites use to track visitors of the Website. The Company measures activity of the Website through the use of "Cookies". The Company may access Cookies on the User's Computer in order to obtain information related to which website, banners and/or advertisements let the User to the Company's Website. Details transmitted through Cookies shall not be used for any direct promotional or marketing purposes without the User's Prior Consent.
Payment and Safety of Funds
The User is bound by any of the agreement(s) accepted by such User, and in turn agrees and accepts to the online payment methods offered by the Company. Deposits and Withdrawals of Funds are executed as per the agreement(s) entered into by the User and the Company. Withdrawals of funds are affected only upon the reception and approval of such request(s) by the Company.
The Company deals with several first-class banks and client funds are held in segregated accounts, as per Policies and Procedures of Company, ensuring the continued safety of funds. The Company is a member of the Investors Compensation Fund.
Please note: Due to fraud prevention and anti-money laundering laws, accounts which have never traded are unable to withdraw funds within 30 working days of dormancy and must have completed trading of at least the “deposited amount / by 10 = X number of standard Forex lots” before substantial profit withdrawals or initial deposits can be released. The same volume formula applies to existing accounts (with trading volume); they should have met the volume requirement before withdrawals of funds is allowed.
Client accounts in which there have been no trades, for a period of more than 30 calendar days, will be considered by the Company as being dormant accounts. Such 30 days period shall begin from the first day following the lapse of the 30 days period of time in which no transaction was undertaken. Any new Trading Account for which the client requests a withdrawal before the first 30 calendar days of its operation, will be considered by the Company as being Dormant Account and will be subject to a dormancy fee of 150 USD per month. Company may at its own discretion and time deduct the amount per month and/or over a longer period of inactivity. Furthermore, the dormant fees can be applied with retroactive effect.
Linked Sites and Limitation of Liability
Access to the Website is a non-exclusive, non-transferable basis and is in compliance with the terms and conditions herein including all other agreement(s) so signed by the User. The Website may contain hyperlinks to third-party websites, and as such, the Company shall not be held accountable for the content or accuracy of information of any of those sites, and as such does not endorse the contents within such sites. The Website of the Company is provided to the User on an "AS IS" and/or "AS AVAILABLE" basis. The Company does not provide any warranties of any kind, including implied warranties.
The Company, including its Employees, Officers, Directors, Affiliates, Agents, Service Providers and Licensors, does not warrant the accuracy, adequacy, completeness of the information, products and/or services within the Website, and expressly disclaims liability for any errors, interruptions, losses, damages, or inaccuracies in the information, products and/or services provided via the Website.
Termination of an account is processed as per the agreement(s) entered into between the Company and the User. Termination of an account may be initiated by either party to the Agreement, and is delivered to the other party in writing via the legal methods of delivery of such notice.
Prohibited Trading Techniques – Market abuse
Circumvention & Reverse Engineering: You shall not unlawfully access or attempt to gain access, reverse engineer or otherwise circumvent any security measures that we have applied to our Online Trading Facility and/or computer system(s). If, at our sole discretion, we were to determine that you are in breach of this clause, we reserve the right to take all action as we see fit, including, without limitation, completely blocking access to our Online Trading Facility, blocking and/or revoking your Access Codes and/or terminating your Account. Under these circumstances, we reserve the right to seize any profits and/or revenues generated directly or indirectly by exercising any such prohibit trading activity and we shall be entitled to inform any Interested third parties of your breach of this clause; we have, and will continue to develop any tools necessary to identify fraudulent and/or unlawful access and use of our Online Trading Facility; any dispute arising from such fraudulent and/or or unlawful trading activity will be resolved by us in our sole and absolute discretion, in the manner we deem to be the fairest to all concerned; that decision shall be final and/or binding on all participants; no correspondence will be entered into.
Artificial Intelligence Software: It is absolutely prohibited to use any software , which we determine, at our sole discretion, to have as its purpose to apply any kind of artificial intelligence analysis to our Online Trading Facility and/or computer system(s) with an ultimate goal to gain unfair advantage and exploit our trading facility; in the event that we determine, at our own discretion, that any such artificial intelligence software has been used, or is being used, we reserve the right to take all action as we see fit, including, without limitation, completely blocking access to our Online Trading Facility, blocking and/or revoking your Access Codes and/or terminating your Account. Under these circumstances, we reserve the right to seize any profits and/or revenues generated directly or indirectly by exercising any such prohibit trading activity and or charge you with extra fees. In addition, we shall be entitled to inform any Interested third parties of your breach of this clause; we have, and will continue to develop any tools necessary to identify fraudulent and/or unlawful access and use of our Online Trading Facility; any dispute arising from such fraudulent and/or or unlawful trading activity will be resolved by us in our sole and absolute discretion, in the manner we deem to be the fairest to all concerned; that decision shall be final and/or binding on all participants; no correspondence will be entered into.
Moreover, it is absolutely prohibited to use any software in such a way which can cause serious negative impact on the performance of our servers and may prevent us from achieving the best possible result for our clients as regards the execution of their orders. In the event that we identify any such activity, we reserve the right to take all action as we see fit, including, without limitation, completely blocking access to our Online Trading Facility, blocking and/or revoking your Access Codes and/or immediately terminating your Account. Moreover, you acknowledge that once your Account has been terminated, we may liquidate any outstanding contracts/positions you have with us. In view of the above, please note that you will be strictly prohibited from opening any new trading Account(s) and trade with our Company. Nonetheless, in cases where you may successfully open an Account and trade with our Company due to any technical and/or human error, we reserve every right to immediately close your Account upon identification, nullify any profit/loss generated and refund the original amount of deposit, excluding any deposit and withdrawal charges.
Unlawful trading techniques: Internet, connectivity delays, and price feed errors sometimes create a situation where the price(s) displayed on our Online Trading Facility do(es) not accurately reflect the market rates. The concept of using trading strategies aimed at exploiting errors in prices and/or concluding trades at off-market prices and/or by taking advantage of internet delays (commonly known as “arbitrage”, “sniping” or “scalping” hereinafter, collectively, referred to as “Arbitrage”), cannot exist in an OTC market where the client is buying or selling directly from the principal; accordingly, we reserve the right, at our sole discretion, NOT to permit the abusive exploitation of Arbitrage on our Online Trading Facility and/or in connection with our Services; any Transactions or Contracts that rely on price latency arbitrage opportunities may be revoked, at our sole discretion and without prior notice being required; furthermore, in those instances, we reserve the right, at our sole discretion and without prior notice being required: (a) to make the necessary corrections or adjustments on the Account(s) involved (including, without limitation, adjusting the price spreads available to the client); (b) to restrict the Account(s) involved access to streaming, instantly tradable quotes (including, without limitation, providing manual quotations only and submitting any Orders to our prior approval); (c) to retrieve from the Account(s) involved any historic trading profits that we can document as having been gained through such abuse of liquidity at any time during the client relationship; (d) to terminate the client relationship and/or close all Accounts involved (including, without limitation all other Accounts held by the same Account holder with us) immediately by giving written notice; and/or (e) to inform any interested third parties.
Any indication or suspicion, at the solo discretion of CIBfx, of any form of arbitrage (including but not limited to risk free profiting), abuse (including but not limited to participant’s trading activity patterns that indicate that the participant solely aims to benefit financially without being genuinely interested in trading in the markets and/or taking market risk), internal hedging in coordination with other parties, abuse of our ‘no negative balance’ policy, fraud, manipulation, cash-back arbitrage or any other forms of deceitful or fraudulent activity, will constitute all Transactions carried and/or profits or losses garnered as invalid. In these circumstances, we reserve the right to close/suspend (either temporarily or permanently) all of the Client’s trading Accounts and cancel/or all Transactions. In view of the above, please note that you will be strictly prohibited from opening any new trading Account(s) and trade with our Company. Nonetheless, in cases where you may successfully open an Account and trade with our Company due to any technical and/or human error, we reserve every right to immediately close your Account upon identification, nullify any profit/loss generated and refund the original amount of deposit, excluding any deposit and withdrawal charges.
We have, and will continue to develop any tools necessary to identify fraudulent and/or unlawful access and use of our Online Trading Facility; any dispute arising from such fraudulent and/or or unlawful trading activity will be resolved by us in our sole and absolute discretion, in the manner we deem to be the fairest to all concerned; that decision shall be final and/or binding on all participants; no correspondence will be entered into.
Changes in Market conditions: please note that we shall have no obligation to contact you to advise upon appropriate action in light of changes in Market Conditions (including, without limitation, Market Disruptions) or otherwise. You acknowledge that the Over-The-Counter Market in leveraged Financial Instruments is highly speculative and volatile and that, following execution of any transaction, you are solely responsible for making and maintaining contact with us and for monitoring open positions and ensuring that any further instructions are given on a timely basis. In the event of any failure to do so, we can give no assurance that it will be possible for us to contact you and we accept no liability for loss alleged to be suffered as a result of any failure by you to do so.
Indemnification: Without prejudice to any other provisions of this Agreement, you agree to indemnify us and hold us, our Affiliates and any of our Associates, harmless from and against any and all liabilities, losses, damages, costs and expenses, including, without limitation, legal fees and expenses incurred in connection with and/or directly or indirectly related with, any fraudulent and/or unlawful access and use by you of our Online Trading Facility and/or the prevention and/or remediation thereof, provided that any such liabilities, losses, damages, costs and expenses would not have not arisen, but for our gross negligence, fraud or willful default.
Any system or method of negotiation that is prohibited in accordance with market regulations and in accordance with the User Terms, such as Scalping systems, automated data entry and Hedge or coverage system that is under the definition of market abuse , as well as any prohibited activity or abuse of our bonus system, is not allowed in CIBfx within our platform and asset marketing systems, as well as webtrader, mt4 or mobile platform negotiation.
In similar or similar circumstances, we reserve the right to cancel all your transactions and / or close your account.
No personal or financial information, provided by the User, will be disclosed, given, sold or exchanged to any third party. In rare circumstances, if Company is required by relevant legal authority or supervisory body or legislation, information(s) may be disclosed in such cases. As a general rule, the User(s) information will remain in the Company's possession and will be treated as confidential at all times.
It is the User's responsibility to keep any account numbers and/or passwords and/or logins confidential at all times. User authorizes the Company to act on any instruction received in good faith.
Applicable Law and Jurisdiction
Without restricting the generality of the foregoing, the User may not make commercial use of the contents of the Website or include the contents of the Website in or with any other product that is created or distributed by the User, or copy the contents of the Website to the User's own or another User Website, without obtaining the prior permission from the Company.
In cases that for any reason, any term and condition is deemed invalid or unenforceable, such provision will be excluded and remaining provisions will remain in full force and effect.
Any translation of the contents of the Website including products and services provided through the Website is made as goodwill for the convenience of the User. In the event of a dispute between various language versions, the English Version of the Website shall prevail.