1.1. This Client Agreement sets the terms and conditions governing the operation on the Client's Trading Account in the hedge fund GenesysFund (hereinafter the "hedge fund").
2. JOINT TRADING ACCOUNTS
2.1. If several individuals act as a Client, such individuals agree to incur joint and several liability for obligations under this agreement and hold the hedge fund harmless from and against all claims, expenses and liabilities that may arise between such individuals in the process or as a result of work on their trading account in the hedge fund.
2.2. Each co-beneficiary of a joint account agrees that the orders and disposals of any co-beneficiary are legitimate and does not require confirmation by other co-beneficiaries of the trading account.
2.3. The notification sent to any of the co-beneficiaries is the notification of all co-beneficiaries.
2.4. In the event of the death of any of the co-beneficiaries, the hedge fund presumes that the account holders are co-beneficiaries with inheritance rights arising from the death of the testator.
3. SUBJECT OF THE AGREEMENT
3.1. Work on the Client's Trading Account is governed by the terms of this Client Agreement and its annexes.
3.2. The Hedge Fund executes the Client's orders as an agent, unless otherwise provided. For orders execution, the hedge fund can use the services of another broker or an affiliate. All transactions are regulated by the rules and policies of the relevant markets and clearing houses, as well as applicable law.
3.3. The legal relationship between the hedge fund and the client is governed by the terms of this Agreement, including the Risk Disclosure Statement and Trading Policies of the Hedge Fund.
3.4. The field "I have read the agreement and I agree to its terms and conditions" is the Client's consent with the provisions of this agreement.
3.5. Messages sent via website or e-mail are valid as a written communication.
4. TRADING RECOMMENDATIONS
4.1. The Client acknowledges, understands and agrees that:
- 4.1.1. Any comments on the market and information provided to a Client by the hedge fund or the hedge fund broker are not an offer to open/close any transaction and is not a trading recommendation or advice;
- 4.1.2. Such comments and information are based on data obtained from reliable sources, in the opinion of the hedge fund, but, nevertheless, it may be incomplete, inaccurate and irrelevant and the hedge fund is not responsible for the completeness, accuracy and relevance of such information and comments.
5. REPRESANTATIONS AND WARRANTIES OF THE CIIENT
5.1. By entering into this Client Agreement with the hedge fund, the Client represents and warrants the following:
- 5.1.1. The Client is of sound mind, has come of age and has full legal capacity.
- 5.1.2. In case if the Client is a legal entity, it is duly incorporated in accordance with the laws of its jurisdiction.
- 5.1.3. The Client undertakes to perform properly all the obligations provided by this Client Agreement.
- 5.1.4. Performing this Agreement, the Client does not violate any statute, regulations, statutory acts, regulations, resolutions, etc. applicable to the Client.
- 5.1.5. The client undertakes to provide all documents and information requested by the hedge fund.
- 5.1.6. The Client hereby warrants that trading on the OTC markets is an acceptable activity for him.
- 5.1.7. The Client has read and understands the Risk Disclosure Statement provided by the hedge fund.
- 5.1.8. The Client undertakes to review regularly the possible changes and additions made by the hedge fund to the Client Agreement, its annexes and supplements to it, as well as policies and notifications of the hedge fund.
- 5.1.9. When opening an order, the Client fully understands the terms of this order, as well as the possible risks, and his decision about opening/closing this order independently based on his own judgment.
- 5.1.10. The Client declares that all the information provided by the Client, including information regarding the Client's trading experience and knowledge of investments, is true and complete, and undertakes to notify the hedge fund in a timely manner of any changes in the information provided.
6. CLIENT VERIFICATION
6.1. Before starting to work on the trading account, the Client, as well as in case of a joint account, the co-beneficiary/s of the trading account must provide information and documents requested by the hedge fund in order to comply with the KYC procedure and in accordance with the AML policy.
6.2. The refusal of the Client, as well as in case of a joint account – of the co-beneficiary/s of the trading account to provide the requested documents and/or information may be a ground for suspension of the Client's trading on his trading account.
6.3. The Hedge Fund reserves the right to liquidate open positions upon the request of any regulatory, legislative or similar body of applicable jurisdiction, as well as to perform other actions in accordance with the instructions of the above bodies.
7.1. ONLINE ACCESS
- 7.1.1. In order to start working with the platform, the Client needs to get the secret access data from the hedge fund: user name and password. Hereby the Client declares that:
- 126.96.36.199. He is responsible for the integrity of sensitive access data and their usage;
- 188.8.131.52. He is responsible for non-disclosure of sensitive access data to third parties;
- 184.108.40.206. The Hedge Fund accepts instructions and orders sent by using the Client's secret access code, and the Client is solely responsible for the results of execution of such instructions and/or orders;
- 220.127.116.11. The Client agrees to notify the hedge fund of an unauthorized usage of sensitive Client’s access data.
- 18.104.22.168. The Client hereby confirms the right of the hedge fund to suspend its access to the trading account without prior notice to the Client in case if the hedge fund has grounds to suspect that the secret access code of the Client is unauthorizedly used by third parties.
- 22.214.171.124. The Hedge Fund, its partners or service providers, do not make direct or indirect statements or guarantees regarding the permanent and fail-safe functioning of the platform and/or the hedge fund website.
- 7.1.2. The client undertakes to use the platform, website and other software for the purpose intended, not to infringe the intellectual property rights of the hedge fund or confidentiality obligations, not to use malicious codes / viruses, and to perform any actions that could lead to a malfunction of the platform, website and/or other hedge fund software.
7.2. The client is aware of the fact that he is solely responsible for the transactions conducted on his trading account.
- 7.2.1. In the event that the Client's account is a joint account, the hedge fund is authorized to act on the instructions of any of the account holders without further approval by the other co-beneficiaries of this trading account.
- 7.2.2. The Hedge Fund provides prices by placing on a trading platform, website, online platform or by using any other means of communication; hereby the client recognizes the prices provided by the hedge fund as reliable and disclaim from any claims regarding hedge fund prices.
- 7.2.3. Hedge fund does not guarantee continuous provision of prices due to possible technological failures, communication system failures, high market volatility, etc.
7.3. ORDERS EXECUTION
- 7.3.1. The Hedge Fund strives to execute the client's orders on the best terms, however, the Client hereby agrees that, due to market conditions or other conditions, the hedge fund may not be able to execute the order or execute it at a certain price, and the Client agrees with the fact that the hedge fund, its partners and service providers are not responsible for the failure to execute the order or its execution at a different price.
- 7.3.2. In case of non-fulfillment of orders due to holidays or festive, the execution is postponed to the next business day.
- 7.3.3. The Hedge Fund, its partners and service providers are not liable for delays in the transfer of orders due to market conditions, failures, malfunctions or malfunctioning of communications facilities, claims, losses, damages and expenses.
7.4. MARGIN REQUEREMIENTS
- 7.4.1. The responsibility of the Client is to maintain the margin at his trading account according to the requirements of the hedge fund. Hereby the Client acknowledges that the hedge fund reserves the right to change the margin requirements at any time. Any margin requirement must be satisfied within the term, indicated by the hedge fund.
- 7.5.1. The Hedge Fund has the right to change the amount of the leverage on the Client's account without prior notice, including if the trading style of the Client is considered highly risky for the hedge fund.
8.1. Hedge Fund has the right to transfer all or any position in the client's account for the night at the rates determined by the hedge fund.
9. DEFAULT OF OBLIGATIONS
9.1. The following events are defaults:
- 9.1.1. The Client's renunciation of fulfilment of obligations to the hedge fund for any reason, including the inability or unwillingness to pay amounts payable in favor of the hedge fund.
- 9.1.2. Bankruptcy proceeding initiated against the client.
- 9.1.3 If the Client provides the hedge fund with untrue, unreliable, irrelevant information, as well as cases when the client has not informed the hedge fund of any changes in his personal information.
- 9.1.4 The Hedge Fund has a reason to believe that the Client involves it in any criminal activity or activity that is contrary to the rules and regulations of the applicable law, or commits unlawful acts.
- 9.1.5 The Hedge Fund has reason to believe that the Client uses prohibited trading methods such as scalping, pip hunting, trading on news, making profit, taking advantage of defects or a system malfunction, etc.
- 9.1.6 The requirement of any regulatory body to perform one or more of the actions described in the next paragraph 9.2 of this Agreement.
9.2. In the event of the occurrence of events described in the previous paragraph 9.1, the hedge fund has the right to take the following actions at its discretion:
- 9.2.1. Terminate this Client Agreement without prior notice to the client.
- 9.2.2. Close open positions (open position) on the trading account of the client.
- 9.2.3 Prohibit or suspend Client’s access to the platform.
- 9.2.4 Reject execution of any order of the Client.
- 9.2.5 Limit the trading of the Client.
- 9.2.6 To comply with the requirements of law enforcement agencies.
- 9.2.7 In case of fraud, to return the funds to the owner or to the sources indicated by law enforcement agencies.
- 9.2.8 Withdraw profits made using artificial intelligence or by using prohibited methods of trading or any other activity described in the clause 9.1 of this agreement or contrary to the principles of cooperation of the Client with the hedge fund.
- 9.2.9 To sue for compensation of losses and damage, including reputational, incurred by the hedge fund.
10. DECLARATIONS AND CONFIRMATIONS
10.1. Confirmation of transactions is executed online as transactions are executed and immediately reflects in the "Open Positions" window, in the Account Report and in the Trading History, which are correct and final.
10.2 Written objections from the Client should be sent to the hedge fund at email@example.com and will be considered as received only if they are actually delivered or sent from the Client's mail registered in the hedge fund as the Client's e-mail.
10.3 Nothing in this agreement shall exclude the right of the hedge fund to correct any errors if detected, and the Client hereby agrees that such errors, which could lead to both profit and loss, must be corrected.
10.4 The Client hereby agrees that the rights and obligations of the Client in respect of executed transactions, as well as his work with the hedge fund as a whole, are governed by the terms of this agreement.
11. FORCE MAJEURE
11.1. The Private Fund GenesysFund and its partners and service providers shall not be liable to the Client for any losses, costs, damages or costs incurred by the Client, directly or indirectly, for any reasons beyond the control of the hedge fund, including, natural disasters, force majeure, civil disorders, wars, rebels, international interventions, government actions (including, currency restrictions, confiscation, nationalization, depreciation), market conditions, failure or malfunction of any transmission system or communication.
12. DORMANT ACCOUNT
12.1. A dormant account is the Client's trading account, on which there were no transactions within one calendar month.
12.2. In case if there is a trade surplus on the account, the hedge fund has a right to charge the commission in the amount of 25USD for each period of one month, when the account is dormant.
13. INTELECTUAL PROPERTY AND CONFIDENTIALITY
13.1. The platform can include data on third parties, text, images, software, multimedia materials and other content ("Third Party Content").
13.2. The platform is protected by copyright, database rights and other intellectual property rights.
13.3. Usage of the platform does not provide any ownership right of the platform.
13.4 The Client has no right to:
- 13.4.1. Completely or partially copy the platform;
- 13.4.2 Display, reproduce, transmit, sell, distribute, rent, subrent, transfer on a sub-license or credit, transfer or use the platform or its components in any similar manner;
- 13.4.3 Remove or hide any copyright notices;
- 13.4.4 Use any trademarks, registration marks, domain names, logos or other copyright objects of third party service providers;
13.5 The platform may contain links to third-party websites and the hedge fund is not responsible for the security of following such links, as well as for their content.
14.1. The Client hereby discharges from liability the hedge fund, its partners, service providers, employees, agents, as well as from any liabilities, obligations, damages, costs and expenses, and undertakes to perform its duties in accordance with this agreement in a timely manner.
14.2 The Client hereby expresses its consent to pay immediately to the hedge fund all losses, expenses and costs, including attorneys' fees, incurred by the hedge fund when performing any provision of this agreement or any other agreements between the hedge fund and the Client.
14.3 The Client hereby undertakes not to take any action, including on forums, in social networks and/or mass media, which may threaten the reputation of the hedge fund. The hedge fund has the right to demand from the client compensation and reimbursement of all costs related to such actions.
15. FUNDS DEPOSIT AND WITHDRWAL
15.1. The Client's account is activated when the Client deposits the amount equal to or greater than the minimum initial deposit amount, the amount of which is established by the hedge fund at a specific point in time.
15.2 The Client may make deposits to his trading account at any time during the term of this Agreement. The methods of replenishment are established by the hedge fund at a specific point in time. Detailed information on replenishment methods of the account is listed on the website of the hedge fund.
15.3 The Hedge Fund has the right to request from the Client any documents confirming the source of origin of the funds deposited in his account in the hedge fund, and not to accept the Client's deposit in case of doubt as to the legitimacy of the origin of the funds. The Hedge Fund does not accept anonymous payments or payments made to the Client's account by third parties.
15.4 If the funds deposited by the client have not been credited to his trading account within a reasonable time, the Client must notify the hedge fund and provide all necessary documents for the search and transaction tracking.
15.5 Upon receipt of a request from the client to withdraw funds from his trading account, the hedge fund shall withdraw funds from the Client's trading account to the same source from which the deposit was made and in the amount not exceeding the amount of the deposit. If the amount of the withdrawal exceeds the deposited one, the hedge fund can send the balance to the currency account of the client.
15.6 The Hedge Fund reserves the right to refuse the execution of the request for withdrawal, in whole or in part, if:
- 15.6.1 Information in the Client's request for withdrawal is incomplete, untrue or irrelevant;
- 15.6.2 Withdrawal of funds is requested to the account from which no deposit was previously made and/or to the account that does not belong to the client;
- 15.6.3 At the moment of the funds withdrawal, the Client's balance is less than the amount specified in the withdrawal request, including all commissions;
- 15.6.4 In case of force majeure;
- 15.6.5 The Hedge Fund reasonably believes that cash may be needed to meet margin requirements;
- 15.6.6. The free margin on the Client's trading account is not sufficient to fulfill the corresponding request for withdrawal of funds.
15.7. The Hedge Fund reserves the right to reject a request for withdrawal of Client’s funds from a trading account if he asks for a particular method of transfer, and has the right to offer an alternative method of transfer.
15.8 All fees for funds transfer shall be responsibility of the Client.
15.9 The Hedge Fund shall not be liable for errors committed when withdrawing funds from the trading account if they were committed through no fault of the hedge fund.
16.1 The Client understands, accepts and agrees that the hedge fund may at any time make amendments or change this agreement, including its annexes, and hereby the Client undertakes to read such amendments and updates on the hedge fund's website.
16.2 Amendments and additions come into force from the moment of their publication on the website of the hedge fund.
17. AGREEMENT TERMINATION
17.1. This Agreement is valid until the moment of its termination and can be terminated by the Client within 10 working days, if there are no open positions on his trading account and/or unfulfilled obligations to the hedge fund.
17.2. This Agreement can be terminated by the hedge fund at any moment after the written notification to the Client about the agreement termination, if the termination of the agreement does not affect any transactions, concluded before and does not discharge the obligations of any party set forth in this Agreement.
17.3 Notification of the party of the agreement termination does not discharge any obligations of the Client to the hedge fund.
18.1 The Client hereby agrees that conversations between the Client and the hedge fund, including, among others, its employees or partners may be recorded at the discretion of the hedge fund.
18.2 The Client hereby acknowledges that such records are the property of the hedge fund and can be used as evidence in the event of any dispute or proceeding between the Client and the hedge fund.
19. LANGUAGE AND JURISDICTION
19.1 This Agreement is governed and interpreted in accordance with the laws of the Cayman Islands, without applying the rules of private international law.
19.2 Any disputes or proceedings between the Client and the hedge fund are resolved in accordance with the law of the Cayman Islands.
19.3 This Client Agreement is a legally binding agreement between the Client and the hedge fund.
19.4. The official language is English. In case of any inconsistencies in the translations of this Agreement, the English version will prevail. Information provided in languages other than English is provided for information purposes and the hedge fund is not responsible for the accuracy of such information.
19.5 The Hedge Fund has the right to provide client support services in languages other than English.