Terms and Conditions
This Agreement is entered into by and these Terms & Conditions (hereinafter referred to as the “Agreement”) shall regulate the relationship between FUNDAMINTS LTD, with company No. 46587324334 2015, and registered at: Hinds Building, Kingstown, St. Vincent and the Grenadines (hereinafter referred to as the “Company”), and the user (a natural or legal entity) (hereinafter referred to as the “Client”) of www.FUNDAMINTS.com (hereinafter referred as the “Website”).
- The Client confirms that he/she has read, understood and accepted all information, conditions and terms set out on the Website which are open to be reviewed and can be examined by the public and which include important legal Information.
- The Client accepts this Agreement by registering an Account on the Website and depositing funds. By accepting the Agreement, and subject to the Company’s final approval, the Client enters into a legal and binding agreement with the Company.
- The terms of this Agreement shall be considered accepted unconditionally by the Client upon the Company’s receipt of an advance payment made by the Client.
- As soon as the Company receives the Client's advance payment, every operation made by the Client on the Trading Platform shall be subject to the terms of this Agreement and other documentation/information on the Website. The Client hereby acknowledges that each and any Operation, activity, transaction, order and/or communication performed by him/her on the Trading Platform, including without limitation through the Account, and the Website, shall be governed by and/or must be executed in accordance with the terms and conditions of this Agreement and other documentation/information on the Website. By accepting this current agreement, the Client confirms that he/she is able to receive information, including amendments to the present Agreement either via email or through the Website.
- A client that is a legal entity can register with the Company not through the Website but by sending an email with its request to support@FUNDAMINTS.com. All terms and and conditions contained herein, including without limitation to 1 to 5 above, shall at all times be applicable to the Legal Entity and the latter shall conform with such terms and conditions, obligations and rights at all times.
Account – means a unique personified account registered in the name of the Client and which contains all of the Client’s transactions/ operations on the Trading Platform (as defined below) of the Company.
Ask - means the higher price in a quote. The price the Client may buy at.
Bid - means the lower price in a quote. The price the Client may sell at.
CFD (contract for difference) - means a tradeable contract entered into between the Client and the Company, who exchange the difference in the value of an Instrument, as specified on the Trading Platform at the time of opening a Transaction, and the value of that Instrument at the contract’s end.
Digital Option Contract - means a type of derivative instrument where the Client earns a payout if they correctly predict the price movement of the underlying asset at the time of the option’s expiry. The prediction can be made as to whether the value of the underlying asset will fall above or below the strike price at time of expiration. Should the option expire at the selected strike price, it will be considered to expire out-of-the money and will result in the loss of the invested amount.
Execution - means the execution of Client order(s) by the Company acting as the Client's counterparty as per the terms of the present agreement.
Financial Instruments - means the Financial Instruments as per paragraph 2.4 below that are available on the Company’s Trading Platform.
KYC documents - means the documents to be provided by the Client, including without limitation to the a copy of the passport or ID and utility bill of the Client, in case it is a natural person and/or certificates showing the management and ownership going all the way up to the ultimate beneficial owner, in case it is a legal entity, and any other documents the Company may request upon its sole discretion.
Market - means the market on which the Financial Instruments are subject to and/or traded on, whether this market is organized / regulated or not and whether it is in St. Vincent and the Grenadines or abroad.
Market Maker - means a company which provides BID and ASK prices for financial instruments.
Operations – means actions performed at the Client’s Account, following an order placed by the Client,, connected with but not limited to crediting of funds, return of funds, opening and closing of trade transactions/positions and/or that relate to financial instruments.
Prices - means the prices offered to the Client for each transaction which may be changed without prior notice. Where this is relevant, the “Prices” given through the Trading Platform include the Spread (see definition below).
Services – means the services described in section 3 of this Agreement.
Spread - means the difference between the purchase price Ask (rate) and the sale price Bid (rate) at the same moment. For avoidance of doubt, a predefined spread is for the purposes of this Agreement assimilated commission.
Trading Platform - means an electronic system on the internet that consists of all programs and technology that present quotes in real-time, allow the placement/modification/deletion of orders and calculate all mutual obligations of the Client and the Company.
2. Subject of the Agreement
The subject of the Agreement shall be the provision of Services to the Client by the Company under the Agreement and through the Trading Platform.
The Company shall carry out all transactions as provided in this Agreement on an execution-only basis, neither managing the account nor advising the Client.
The Company is entitled to execute transactions requested by the Client as provided in this Agreement even if the transaction is not beneficial for the Client.
The Company is under no obligation, unless otherwise agreed in this Agreement and/or other documentation/information on the Website, to monitor or advise the Client on the status of any transaction, to make margin calls, or to close out any of the Client’s open positions. Unless otherwise specifically agreed, the Company is not obligated to make an attempt to execute the Client’s order using quotes more favorable than those offered through the Trading Platform.
The Investment and Ancillary Services which the Company should provide under the terms of the Agreement are stated below, and the Company will provide them in its capacity as a market maker under the terms of this Agreement.
The Services that the Company provides in relation to one or more Financial Instruments are the following (the list below shall not be regarded as exhaustive):
a. Investment services
- Reception and transmission of orders in relation to one or more Financial Instruments.
- Execution of the orders on behalf of the Clients.
- Dealing on Own Account.
- Portfolio Management.
- Investment Advice.
b. Ancillary Services
- Safekeeping and administration of the Financial Instruments for the Client’s Trading Account, including custodianship and related services such as cash/collateral management.
- Granting credits or loans to one or more financial instruments, where the firm granting the credit or loan is involved in the transaction.
- Foreign exchange services where these are connected to the provision of the Investment Services.
The Company does not provide investment, tax or trading advice unless specified as such between the Client and the Company in a separate agreement.
Our services include ‘execution only’ meaning that the Company will act on your instructions and will not advise you on any transaction, nor will we monitor your trading decisions to determine if they are appropriate for you or to help you avoid losses.
You should obtain your own financial, legal, taxation and other professional advice.
c. Financial Instruments (the list below shall not be regarded as exhaustive):
- Digital Options and/or Binary Options Contracts in stocks, commodities, indices and currency pairs;
- Financial Contracts for Difference (CFDs) in stocks, currency pairs (FX), commodities, ETFs, indices and CFDs in cryptocurrencies; Trading in CFDs and other derivatives does not give you any right, voting right, title or interest in the underlying instrument of the Transaction.
You understand that you are not entitled to take delivery and are not entitled to ownership of any underlying instrument.
CFDs and other derivatives are not traded on a regulated exchange and are not cleared on a central clearinghouse.
This exchange and clearinghouse rules and protections do not apply.
The Company reserves the right to, at its sole discretion and for all CFD products, impose the following expiration times: daily/weekly/monthly and/or no expiration at all.
d. Protected CFDs
On its Website the Company is entitled to provide financial services of Contracts for Difference (CFD) with intrinsic protection (Protected CFDs). The risk of loss for Protected CFDs is limited to does not exceed the sum invested by the Client in a particular CFD contract with the addition of any trading and/or ongoing trading fees incurred as a result of opening such CFD.
Clients may choose to opt out from the features offered by Protected CFDs by choosing the option to use the balance in their trading account in order to keep a CFD position open (“CFDs on margin”).
In this instance, when the loss for a position reaches 95%, an additional 20% of the original investment amount is reserved from the Client’s account. If the CFD position takes further losses, the Client’s available balance is further reduced by 20% accordingly.
The Client can limit the additional funds reserved on his account balance by specifying his acceptable level of loss for a CFD position.
In both features of CFDs described above, the Company offers negative account balance protection i.e. the Client’s losses may never exceed the total amount of funds available in the Client’s account.
In addition, the risk of loss in relation to the corresponding potential benefits for CFDs described above, is reasonably understandable in light of the particular nature of the proposed financial contract.
3. General Provisions
Subject to the provisions of this Agreement, the Company agrees to provide the Client with the Services subject to the Client:
- Being of age of maturity in accordance with the jurisdiction he/she resides in or is a resident of, is of legal competence and of sound mind.
- Not residing in any country where distribution or provision of the financial products or services offered by the Company would be contrary to local laws or regulations. It is the Client’s responsibility to ascertain the terms of and comply with any local laws or regulations to which they are subject.
- Not being a USA/territories of the US national and not being a resident of the following jurisdictions: USA/territories of the US, Canada, Australia, Belgium, Israel, Palestine, Japan, Syria, Iran, North Korea, the Russian Federation and/or any country of the European Economic Area.
The Company will offer Services to the Client at the absolute discretion of the Company subject to the provisions of this Agreement.
The Client is prohibited and shall not, under no circumstances, be allowed to execute any transactions/Operations on the Trading Platform, Website and/or through his/her Account, that would as a result exceed the total balance and/or amount of money deposited/maintained with his/her Account. Such deposited amounts shall be considered to have been provided as collateral, either in the form of a lien or otherwise, to the Company by the Client by which the obligation of the Client to pay any money to the Company is secured.
4. Services of the Company
Services – services provided by the Company to the Client through the Trading Platform of the Company, including without limitation to customer, analytics, news and marketing information services.
The Company shall facilitate the execution of trade activities/orders and/or transactions of the Client but the Client hereby acknowledges and accepts that the Company shall not at any time provide any trust services and/or trading consultation or advisory services to the Client.
The Company shall process all transactions/Operations of the Client in accordance with the terms and conditions of this Agreement and on an execution-only basis.
The Company shall not manage the Client’s Account nor advise the Client in any way.
The Company shall process the orders/transactions requested by the Client under this Agreement irrespective of whether such orders/transactions may result to not being beneficial for the Client.
The Company is under no obligation, unless otherwise agreed in this Agreement and/or other documentation/information on the Website, to monitor or advise the Client on the status of any transaction/order, to make margin calls to the Client, or to close out any of the Client’s open positions. Unless otherwise specifically agreed, the Company is not obligated to process or attempt to process the Client’s order/transaction using quotes more favorable than those offered through the Trading Platform.
The Company shall not be financially liable for any operations conducted by the Client through the Account and/or on the Trading Platform.
Each Client shall be the only authorized user of the Company’s services and of the corresponding Account.
The Client is granted an exclusive and non-assignable right to the use of and to access the Account and it is his/her responsibility to ensure that no other third party, including, without limitation, to any next of kin and/or to members of his/her immediate family, shall gain access to and/or trade through the Account assigned to her/him.
The Client shall be liable for all orders given through his security information and any orders received in this manner by the Company shall be considered to have been given by the Client. So long as any order is submitted through the Account of a Client, the Company shall reasonably assume that such orders are submitted by Client and the Company shall not be under any obligation to investigate further into the matter.
The Company shall not be liable to and/or does not maintain any legal relations with, any third party other than the Client.
If the Client acts on behalf of any third party and/or on behalf of any third party’s name, the Company shall not accept this person as a Client and shall not be liable before this person regardless if such person was identified or not.
The Client has the right to cancel his order given to the Company within 3 seconds after the moment of giving such order to the Company (hereinafter referred to as the “Cancellation”).
The client agrees and understands that the three seconds cancellation option offered by the Company is applicable and available for the client as long as the price remains unchanged. Three seconds from the moment of giving the order to the Company by the Client via the platform, the Company may (but is not obliged to) offer to buyout the option from the Client and the Client have the right to agree to such offer (hereinafter referred to as the “Buyout”).
The Client is entitled to use such Cancellation or Buyout option subject to the conditions specified on the platform. Such conditions can also include the fee charged by the Company. Such fee is specified on the platform. The Company is obliged to provide all necessary information as to the conditions of Cancellation and Buyout, their cost, etc. The Client acknowledges and agrees that provision of such information on the platform is sufficient.
The Client acknowledges and agrees that the use of Cancellation or Buyout is very risky to the Client as long as the cost of Cancellation and/or Buyout depends on the market situation.
The Client acknowledges and agrees that he bears all the risks associated with the use of Cancellation and/or Buyout.
The Client is entitled to use such Cancellation or Buyout option subject to the conditions specified on the Trading Platform/Website, including without limitation to any fee to be charged by the Company. The Company shall be obliged to provide all necessary information as to the conditions of Cancellation and Buyout, including any applicable costs, etc.
The Client acknowledges, accepts and agrees that provision of such information on the Trading Platform is sufficient.
The Client acknowledges, accepts and agrees that the use of Cancellation or Buyout option entail large risks for the Client, especially in the case where the costs associated with Cancellation and/or Buyout, depend on the market situation.
The Client acknowledges, accepts and agrees that he/she shall bear all risks associated with the use of Cancellation and/or Buyout option.
It is understood and agreed by the Client that the Company may from time to time, at its sole discretion, utilize a third party to hold the Client’s funds and/or for the purpose of receiving payment execution services. These funds will be held in segregated accounts from such third party’s own funds and will not affect the rights of the Client to such funds.
The Company offers internal live chats where clients can share inter alia their trading ideas and/or express their general thoughts. The client acknowledges and agrees that the Company’s live chat feature is not and will not constitute a valid and/or accurate information and/or information addressed to the clients/potential clients and/or in any way information that is controlled by the Company and/or investment advice, as it is merely a feature allowing clients to inter alia express their thoughts and ideas between themselves.
Provision of investment advice shall only be carried out by the Company subject to a separate written agreement with the Client and after assessing the Client’s personal circumstances. Unless such written agreement has been entered into between the Client and the Company, the provision of reports, news, opinions and any other information by the Company to the Client does not constitute investment advice or investment research.
2. Collection of Information
2.1 Categories of Non-public Personal Information
We collect nonpublic personal information you provide to us when you apply for a Funda Mints account or when you communicate with us about your Funda Mints account. The types of information we may collect include your name, address, phone number, email address, date of birth, bank account information, username, password.
2.2 Information About Your Transactions With Us
As you use your Funda Mints account to perform financial transactions, we collect nonpublic personal information in connection with each transaction, including transaction time, amount and merchant details. We may also collect photos, memos or other information that you attach to your transactions.
2.3 Information From Other Sources
When you create a Funda Mints account, we may collect information, including non-public personal information about you from non-affiliated third party service providers in order to verify your identity and for fraud prevention, including your prior addresses and names.
2.4 Other Information we collect
We may collect information you provide to us, such as your name, email address and any other information you choose to provide. For example, we may collect such information if you request an invite to join Funda Mints or if you enter into any contest or promotion.
2.5 Information We Collect Automatically from our Services
When you access or use our Services, we automatically collect information about you as follows:
Log Information: We log information about your use of our Services, including the type of browser you use, access times, pages viewed, your IP address and the page you visited before navigating to our Services.
Device Information: We collect information about the computer or mobile device you use to access our Services, including the hardware model, operating system and version, unique device identifiers and mobile network information.
Information Collected by Cookies and Other
Tracking Technologies: We use various technologies to collect information on our Services and other websites, and this may include sending cookies to your computer or mobile device. Cookies are small data files stored on your hard drive or in device memory that help us to improve our Services and your experience, see which areas and features of our Services are popular and count visits. For more information about cookies, and how to disable them, please see “Your Choices” below. We may also collect information using web beacons (also known as "tracking pixels"). Web beacons are electronic images that may be used in our Services or emails and help deliver cookies, count visits, understand usage and campaign effectiveness and determine whether an email has been opened and acted upon.
- Google Play Services
- Firebase Analytics
2.6 Information we receive from other sources
We work closely with third parties (including financial service providers, security agencies, etc). We will notify you when we receive information about you from them and the purposes for which we intend to use that information.
3. Use of Information
We may use your information, including non-public personal information as follows:
Provide, maintain and improve our Services.
Provide and deliver the products and services you request, process transactions and send you related information, including confirmations.
Verify your identity and prevent fraud.
Send you technical notices, updates, security alerts and support and administrative messages.
Respond to your comments, questions and requests and provide customer service.
Communicate with you about products, services, offers, promotions, rewards, and events offered by Funda Mints and others, and provide news and information we think will be of interest to you.
Monitor and analyze trends, usage and activities in connection with our Services.
Personalize and improve the Services and provide advertisements, content or features that match user profiles or interests.
Process and deliver contest or promotion entries and rewards.
Link or combine with information we get from others to help understand your needs and provide you with better service.
Carry out any other purpose for which the information was collected.
4. Disclosure of Information
We may disclose any information we collect about current and former customers, including nonpublic personal information, to affiliates and non-affiliated third parties as follows:
With financial service providers, including the financial institutions identified in your cardholder bank agreement that provide banking services in connection with your Funda Mints account.
With another user, when you sign up for Funda Mints's services via a referral link. The user that referred you may receive information indicating that you have enrolled with Funda Mints. You may avoid this sharing by not using a referral link to enroll.
With non-financial companies, such as email service providers that perform marketing services on our behalf, and fraud prevention service providers that use the information to provide services to Funda Mints and other companies.
With other nonaffiliated companies for our everyday business purposes, such as to process transactions, maintain accounts, respond to court orders and legal investigations or report to credit bureaus. For example, in connection with our everyday business purposes, we may share information about you as follows:
In response to a request for information, if we are required by, or we believe disclosure is in accordance with, any applicable law, regulation or legal process.
With relevant law enforcement officials or other third parties, such as investigators or auditors, if we believe it is appropriate to investigate fraud.
If we believe your actions are inconsistent with the spirit or language of our user agreements or policies, or to protect the rights, property and safety of Funda Mints or others.
In connection with, or during negotiations of, any merger, sale of Funda Mints's assets, financing or acquisition of all or a portion of our business to another company; and
With your consent or at your direction, including if we notify you that the information you provide will be shared in a particular manner and you provide such information.
We may also share aggregated or de-identified Information, which cannot reasonably be used to identify you. For example, we may share transaction zip codes with third parties to improve our accuracy in geo-locating transactions and to improve the clarity of transaction descriptions.
We will usually not share your personal information with other third parties without your consent. Where we need to transfer your data to another country, we shall ensure that such country to which the data is being transferred shall have adequate data protection law. We will seek your consent where we need to send your data to a country without an adequate data protection law.
5. Your Choices
5.1 Account Information
You may edit your account profile information by logging into your account via our Services. If you wish to delete or deactivate your online account, please contact us, but note that we may retain certain information as required by law or for legitimate business purposes.
5.2 Promotional Communications
You may opt out of receiving promotional emails and text messages from Funda Mints by following the instructions in those messages. Please note that if you opt out, we may still send you transactional or relationship messages, such as those about your account or our ongoing business relations.
5.3 Location Information
If you initially consent to the collection of location information by Funda Mints or Google Maps within our mobile application, you may be able to subsequently stop this collection through your device operating system settings or through your online account settings. If either of these opt-out options are not available to you, you may also disable location information by following the standard uninstall process to remove our mobile application from your device.
Most web browsers are set to accept cookies by default. If you prefer, you can usually choose to set your browser to remove or reject browser cookies. Please note that if you choose to remove or reject cookies, this could affect the availability and functionality of our Services.
5.5 Social Sharing Features
Our Services include social sharing features for common social networks to let users share content. These features are served from third-party services that may serve their own cookies. The use of such features enables the sharing of information with your friends or the public, depending on the settings you establish with the entity that provides the social sharing feature. For more information about the purpose and scope of data collection and processing in connection with social sharing features, please visit the privacy policies of the entities that provide these features.
5.6 Analytics and Advertising Services Provided by Others
6. Your Rights
The law gives you certain rights in respect of the information we hold about you. Below is a highlight of some of those rights. It is not a complete, exhaustive statement of your rights in respect of your personal data:
You have a right to a copy of the personal data we hold about you, as well as the information about what we do with it, who we share it with and how long we hold it for. We may make a reasonable charge for additional copies of that data in the case of unfounded and excessive requests.
You have a right to freely transfer your data received from us to any other person.
You have the right to have the information we hold about you corrected, if it is factually inaccurate. You may contact us for this purpose.
In some circumstances, you have the right to the deletion of the information that we hold about you.
You have the right to ask us not to process your personal data for marketing purposes. We will usually inform you (before collecting your data) if we intend to use your data for such purposes or if we intend to disclose your information to any third party for such purposes.
If you wish to exercise your rights, you may write to us at support@FUNDAMINTS.com
Funda Mints takes reasonable measures to help protect all information about you from loss, theft, misuse and unauthorized access, disclosure, alteration and destruction. Additionally, Funda Mints implements policies designed to protect the confidentiality and security of your nonpublic personal information, including a privacy protection policy. Funda Mints limits access to your nonpublic personal information to employees that have a business reason to know such information, and implement security practices and procedures designed to protect the confidentiality and security of such information and prohibit unlawful disclosure of such information in accordance with its policies.
Where you have chosen a password that allows you to access certain parts of the website and mobile application, you are responsible for keeping this password confidential. We advise you not to share your password with anyone. We have also taken measures to comply with provision of security facilities for the protection of your nonpublic personal information through the set up of firewalls, limited access to specified authorized individuals, encryption and continuous capacity building for relevant personnel. We therefore have digital and physical security measures to limit and eliminate possibilities of data privacy breach incidents.
Although we use appropriate security measures once we have received your personal information, the transmission of data over the internet (including by email) is never completely secure. We endeavour to protect personal information, but we cannot guarantee the security of data transmitted to us or by us. We will notify you and any applicable regulator of a breach where we are legally required to do so.
8. Where we store your Data
Your personal information will not be retained for longer than is necessary for the purposes for which it was processed.
9. How long we keep your personal information
We will hold your personal information on Funda Mints‘s systems for as long as is necessary to fulfil the purpose for which it was collected or to comply with legal, regulatory or internal policy requirements.