Gametech (Cyprus) Ltd (hereafter the "Company") is an Investment Firm incorporated and registered under the laws of the Republic of Cyprus, with registration number C342580. The Company is authorized, and regulated by the Cyprus Securities and Exchange Commission (hereafter the "CySEC") under the license number 291/16
The Company provides a Binary Trading Service available and operated via a mobile APP on iOS and Android platforms, known as the 'Nenx App (the "Nenx") and a Binary trading platform hosted on our website (www.nenx.com).
You acknowledge and agree that by clicking the “I Confirm i Agree to the Terms & Conditions” box or the ‘I Agree’ box or similar buttons or links as may be designated by Gametech (Cyprus) Ltd, you are entering into a legally binding contract, and you demonstrate your unreserved approval and acceptance of the textual content of our Terms & Conditions below, as well as the use of our services. You hereby waive any rights or requirements under any laws or regulations in any jurisdiction which require an original (non-electronic) signature or delivery or retention of non-electronic records, to the extent permitted under applicable mandatory law.
This client agreement, together with any Schedule(s) and accompanying documents, as amended from time to time (hereafter the "Agreement") sets out the terms of the contract between you the customer (hereafter "you" and/or "the client" and/or "the customer") and us, the Company. By clicking that you Accept our Terms & Conditions on our Nenx App or www.nenx.com, it is considered irrevocably that you are signing this agreement, so it is assured that you understand and agree with the terms of this agreement. Furthermore, by registering an account with the Company and accepting these terms and conditions you will be entering into a legally binding agreement that comprises these terms and conditions relevant to our Trading Service and all the documents incorporated by reference below. All of your activities on the Trading Service are subject to these terms and conditions.
In the event of a conflict between Gametech (Cyprus) Ltd terms expressed in English and expressed in any other language that might be offered to clients for their convenience, the Gametech (Cyprus) Ltd terms expressed in English will always prevail over those expressed in any other language.
Nenx is a licensed brand of Gametech (Cyprus) Ltd (hereinafter the "Company"), a Cyprus Investment Firm authorized and regulated by the Cyprus Securities and Exchange Commission (License Number 291/16). The Company provides investment and ancillary services in accordance to its authorization and in compliance with the European Markets in Financial Instruments Directive (MiFID) and the Cyprus Investment Services and Activities Regulated Markets Law of 2007 (Law 144(I)/2007) through their Desktop, iOS and Android Nenx App (hereafter "Nenx App") and as these are defined throughout this Agreement.
The Company's registered office is situated at 4 Riga Fereou Street, Omega Court, 1st floor, Limassol 3720, Cyprus.
You may communicate with us in writing to our registered office: Gametech (Cyprus) Ltd, 4 Riga Fereou Street, Omega Court, 1st floor, Limassol 3720, Cyprus, or by fax (+357-22008101), or by email email@example.com, or by telephone +357-22008100 (please note that all telephone communications with clients are recorded for better service and regulatory compliance reasons). In case of any complaints by clients, these can be sent to the relevant department of the company by email to: firstname.lastname@example.org.
The language of all our official communication and information will only be in the English language. Our Nenx App and Website www.nenx.com contain further details about us and our services, and other information relevant to this Agreement. By accepting and agreeing to the Terms and Conditions of this Agreement and furthermore by opening an account with the Company, the Client accepts the following terms and conditions.
The Agreement is otherwise effective as of 20.04.2016. This Agreement is effective upon acceptance at time of registration for newly registering customers through our Nenx App and web platform.
If you are not in agreement to be bound by the terms and conditions of the present Agreement, please stop using our services and inform us in writing immediately (using the official communication contact details as shown above).
You must read, agree and accept all of the terms and conditions contained in this Agreement without any modifications, which include those terms and conditions expressly set forth below and those incorporated by reference, before you may become a customer of Gametech (Cyprus) Ltd. By continuing to access or use our Nenx App, you agree to follow the terms and conditions of this Agreement as they may Apply to you.
We reserve the right to amend, modify, update and change any of the terms and conditions of this Agreement, from time to time, and we will notify you of any such amendment, modification or change by publishing the new version of this Agreement on the relevant page of our Nenx App and web platform. Any modified version of this Agreement will take effect 1 day after its publication on our Nenx App and your continued use of the Services or the Software after the aforementioned 1 day will be deemed to constitute your acceptance of the changes to this Agreement. It remains your responsibility to ensure that you are aware of the correct, current terms and conditions of this Agreement and we strongly advise you to check for updates on a regular basis whilst trading with Nenx.
"Account" means the trading account maintained by the Customer with the Company and designated with a unique account number within the Company's Software systems.
"Access Codes" means the username and password of your choice provided by the Company upon registration to the Customer for accessing his / her Account through the Company's electronic systems.
"Agreement" means these Terms and Conditions for the Services offered by the Company.
"Applicable Regulations" means Cyprus Investment Services and Activities and Regulated Markets Law of 2007 (Law 144(I)/2007), Directives, Circulars or other Regulations issued by CySEC and govern the operations of Cyprus Investment Firms and all Applicable laws and rules in force from time to time, including European Markets in Financial Instruments Directive (MiFID).
"Balance" means the amount held on behalf of the Client on its Client Account within any period of time.
"Business Day" means a day which is not a Saturday or a Sunday or a public holiday in Cyprus or any other holiday to be announced by the Company.
"CIF Authorisation" means the license obtained by the Company from CySEC, as this may be amended from time to time and which sets out the investment and ancillary services the Company is authorized to provide.
"Company's Nenx App" means www.nenx.com and the relevant Nenx iOS and Android Nenx App which are available to download from the respective stores.
"CySEC" means the Cyprus Securities and Exchange Commission.
“Electronic Signature” means the data in electronic form, which is logically associated with other data in electronic form and which is used by the signatory to sign and accept the document usually by clicking a box or radio button etc. This type of signature provides the same legal standing as a handwritten signature.
"Execution" means the execution of clients' orders on the Company's Nenx App and website (www.nenx.com) where the Company acts as the Execution Venue to Clients' transactions.
"Financial Markets" means international financial markets in which currency and other financial assets exchange rates are determined in multi-party trade.
"Operating (Trading) Time of the Company" means period of time within a business week, where the trading terminal of the Company provides the opportunity of trading operations. The Company reserves the right to alter this period of time as fit, upon notification to the Client.
"Order" means the request / instruction given by the Client to the Company in the Client's Account.
"Services" means the investment services which will be provided by the Company to the clients and are governed by this Agreement as these are described in this Agreement.
"Trading Platform Nenx App" means the electronic system that the Company uses over the Internet for the provision of Investment and Ancillary services via its Nenx App.
"Transaction" means any type of transaction subject to this Agreement effected in the Client's trading account(s) including but not limited to trading activity, Deposit, or Withdrawal.
In this Agreement, all the words that denote only the singular number will also comprise the plural, wherever the aforementioned definitions apply and vice versa, and the words that denote natural persons will comprise legal persons and vice versa. Words denoting any gender include all the genders and whenever reference is made to the terms "Paragraphs", "Sections" and "Nenx Appendices" it concerns paragraphs, sections and Nenx Appendices of this Agreement.
The headings of the Sections are only used for facilitating the reference and they do not affect their interpretation. References to any law or regulation will be considered to comprise references to that law or regulation as this can be altered or replaced from time to time or, similarly, to be extended, re-enacted or amended.
"Trading hours" means the days and hours GMT on every available market in the Nenx App.
FATCA – Foreign Account Tax Compliance Act
FFI – Foreign Financial Institution
US Reportable Persons – In accordance to FATCA, a US Reportable person is:
a) a US citizen (including dual citizen)
b) a US resident alien for tax purposes
c) a domestic partnership
d) a domestic corporation
e) any estate other than a foreign estate
f) any trust if:
2.CANCELLATION OF THIS AGREEMENT
You have the right to cancel this Agreement for a Period of thirty (30) days commencing on the date on which this Agreement is signed. Should you require cancelling this Agreement within the above mentioned period, you should send notice in writing to the following address: Gametech (Cyprus) Ltd, 4 Riga Fereou Street, Omega Court, 1st floor, Limassol 3720, Cyprus, or by fax (+357-22008101), or by email support@Nenx.com.Cancelling this Agreement in accordance with the terms of this paragraph, does not imply by any means that you will cancel any transaction/s carried out during that period.
3.PROVISION OF SERVICES
The Company in accordance to its CIF authorisation is authorised to provide the following investment services which are governed by this Agreement:
Investment services and activities
Financial instruments in all above investment and ancillary services and activities
4. CLIENT CATEGORISATION
4.1. The Company will deal with the Client according to the rules of professional conduct based on which the Client will be treated as Retail Client, Professional Client or Eligible Counterparty in accordance with the information provided to the Company during the Account opening procedure. The Client has the obligation to inform the Company in case the Client's personal information change. In the event that the Client wishes to be re-categorized, then the Client must inform the Company in writing, clearly stating such a wish and the reason why. The final decision of the change in categorization, however, lies in the absolute discretion of the Company.
4.2. The client is bound by the method and process of categorization as this is defined and thoroughly explained in the "Client Categorization Policy" which can be found on the Company's Nenx App under the title "Client Categorization Policy". Therefore, by accepting these Terms and Conditions, the Client accepts the application of the categorization method as this is defined in the "Client Categorization Policy".
5. REGISTRATION AND ACCOUNT USE
5.1 To access the Trading platform, the client must first register either using the Nenx App or Website, and open an account (an "Account"). If the application for registration of an Account is successful, the client will receive a confirmation email to the email address supplied on registration. Registration and use of our services is only available to persons aged 18 or over and is subject always to the previous and on-going AML & KYC compliance with these terms and conditions. The Services are available to and may only be used by individuals who can form legally binding contracts under the law applicable to their country of residence. Without limiting the foregoing, our Services are not available to persons under the age of 18 or otherwise under legal age ("Minors"). If you are a Minor, you may not use this service. If you do not qualify, please do not use Nenx. For avoidance of doubt, we shall not be responsible for any unauthorized use by Minors of our Services in any way or manner.
5.2 The client agrees to submit valid and accurate information on registration and it is their responsibility and obligation to ensure that their personal details (address, email, telephone number, payment details etc) are always updated on their account with Nenx. The client furthermore authorises the company to use any lawful and legal means that the company consider necessary to verify the information provided by the client on registration or at any other subsequent time as part of company ongoing compliance monitoring processes.
5.3 The client agrees that the company may use personal information provided on registration to authorised credit reporting agencies and fraud prevention agencies that the company may commercially use anytime in any country in the world.
5.4 The Nenx account is to be used only by the client. The company reserves the right to decline an account opening for any reason. The Account is intended for administering the client's funds, fees, as well as trades, refunds, winning payments, withdrawals and any applicable service fees (all in relation to the Trading Service) for the duration of this agreement.
5.5 The client may open only one Account with Nenx. If he/she opens more than one Account, additional Accounts will be closed and the deposit amount returned to the client, unless any fraudulent activity might be involved that requires the freezing of the account and its funds.
5.6 The Account must not be used for the benefit of any other third party with or without the client's consent.
5.7 The client will be presented with a username and password (of his/her choice which can be reset anytime) on registration with Nenx. It is the client's responsibility to ensure that such details are kept confidential and he/she shall be fully responsible for any misuse of their password. If concerned that the password has been disclosed to a third party, the client should notify the company immediately at which point the company may re-issue a new password. The company reserves the right to temporarily suspend the Account in such circumstances. Unless caused by company negligence, any unauthorised use of the login and password shall be the sole responsibility of the client and be deemed as his/her own use. The client will, therefore, be liable for any such unauthorised use and will not be refunded any resulting losses incurred on the Nenx Trading Service, regardless of whether or not the third party who participated had their consent.
5.8 The company may require the client to change their password or it may suspend their Account if the company has reason to believe that there is likely to be a breach of company security policies or misuse of the Trading Service or App & Website.
5.9 The company has a zero tolerance for fraud and in order to maintain a high level of security in protecting customer funds, and may perform random security checks. The client hereby irrevocably accept that the company retains the right to demand additional documentation from the client in order to verify them as the Nenx Account holder or cardholder or holder of any other funding method. in the event of such a security check the company might request an image of the credit card used as an added security measure).
5.10 The client should check his/her Nenx Account balance each time they access the Nenx App / Website platform. In the event of any errors, it is the client's responsibility to notify the company at the earliest opportunity together with their record of transactions since the balance was last verified in order for the company to deal with such error in accordance with their standard practice.
5.11 The client is responsible for securing his/her login details for their account with Nenx. The client holds sole responsibility for any damage caused due to any act or omission by him/her causing inappropriate or irregular use of their account. The client has the obligation to immediately inform the Company of any possible non-authorized use conducted with his/her user name or if they believe that the Account information is being misused in any way by a third party so that the company may suspend their Account. The company will not be held responsible for any reasonable delay in such suspension. The client will not allow any other person or third party (including, without limitation, any minor) to use his/her Account or accept any winnings on their behalf.
5.12 The company reserves the right, upon providing notice to the client, to close the Account and refund the balance of the Account at reasonable discretion of the company without further explanation.
5.13 The company does not offer credit facilities. The client is not allowed to place a trade greater than the amount deposited in his/her Account or beyond the maximum acceptable trade for each available market.
5.14 The client may withdraw money from their Account at any time provided that the balance has been confirmed and there are no other regulatory / wagering / compliance / fraud issues pending.
5.15 The client may cancel his/her Account at any time by emailing the company at email@example.com. In such a case, the client must stop using Nenx App / web platform immediately.
5.16 The company or the client may suspend or cancel the Account immediately if the other breaches any of their obligations under these terms and conditions. Return of any outstanding balance to the client will be subject to the provisions of these terms and conditions. The suspension or cancellation of the Account shall not affect either party's statutory rights or liabilities.
5.17 The money that the client deposits with the company is protected in the event of insolvency of the company by being placed in a designated client account which is kept segregated from Gametech (Cyprus) Limited own bank accounts.
5.18 The company and its licensees, distributors, affiliates, and subsidiaries are not eligible to participate in the Nenx Trading Service. Company employees may only participate in the Nenx Trading Service in accordance with the Company policy as issued from time to time by the Gametech (Cyprus) Limited Board of Directors.
5.19 During registration, the client, by entering his/her email details and selecting the 'Next Step' they authorise the company to send marketing and promotional materials regarding services provided by Gametech (Cyprus) Limited and its approved associates to the client's email and/or device via push notifications (if enabled) or SMS. The client always has the right to unsubscribe from such marketing email communications.
5.20 On opening an account with Gametech (Cyprus) Limited the default setting for marketing preferences is enabled to allow contact via emails, push messaging, telephone and SMS.
5.21. The customer explicitly assures that the funds which will be transferred / credited (either by credit card, Neteller or PayPal or any other approved method of funding the Company might decide to use in the future) as funding for trading on the Nenx account, do not originate from any illegal or criminal activities or of unknown origin or from any stolen identity or stolen / hijacked account. Gametech (Cyprus) Limited will be assisting and co-operating fully with any Law Enforcement agency whenever any suspicious activity might be occurring with any Nenx Clients Accounts.
5.22. Binary options may not be legal in some jurisdictions. The client understands and accepts that the Company is unable to provide him/her with any legal advice or assurances or guarantees in respect of his/her use of the Services and the Company makes no representations whatsoever as to the legality of the Services in the client's jurisdiction. It's solely the client's responsibility to abide by the laws of his/her country of residency.
5.23. Gametech (Cyprus) Limited Services are not available where they are illegal to use, and the Company reserves the right to refuse and/or cancel services to anyone at its own discretion.
5.24. For avoidance of doubt, the ability to access the Nenx App does not necessarily mean that Gametech (Cyprus) Limited services, and/or the client's activities through it, are legal under the laws, regulations or directives relevant to the client's country of residence.
5.25. The company's Services are available only to, and may only be used by individuals who have sufficient experience and knowledge in financial matters to be capable of evaluating the merits and risks of trading Binary Options via the Nenx App and have done so without relying on any information contained in this Nenx App. You shall bear sole responsibility for any decision made and/or to be made by you relying on the content of the Nenx App. Trading Binary Options involves a high degree of risk and may not be suitable to all investors. Trading such financial instruments can increase losses as well as gains on relatively small movements of the underlying market. Neither the Company, nor its officials are responsible for any losses, and before trading, one should consult an independent advisor or professional entity if necessary.
6. Online Services Agreement
6.1. This Agreement is made by and between Gametech (Cyprus) Ltd and you.
6.2. This Agreement applies to both the web platform and the Nenx App, as well as to the electronic content and/or software currently contained on the Nenx App 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 binary options market via our Nenx App or the web (www.nenx.com), and any other features, content or services that Gametech (Cyprus) Ltd may add in the future (the "Services").
6.3. The Customer account is activated once the Company verifies the Customer's identity (KYC), conducts all the required Anti Money Laundering checks (AML), Sanctions & PEP checks, and relevant Appropriateness Test.
7. Electronic Trading
7.1. Gametech (Cyprus) Ltd grants the client a non-exclusive, non-transferable and limited personal license to access and use the Nenx App (the "License"). The License is conditioned on the client's continued compliance with the terms and conditions of this Agreement. Upon accepting and signing this Agreement, the Client is entitled to Apply for online access to the Company's electronic systems and/or Nenx App, thereby being able to place orders available from the Company. Furthermore, the Client will be able to trade on the Company's Nenx App with and through the Company with the use of a smartphone or any other similar device that is connected to the internet. In this respect, the Client understands that the Company can, at its absolute discretion, terminate the Client's access to the Company's systems in order to protect both the Company's and clients' interests and to ensure the systems' effectiveness and efficiency.
7.2. The Client agrees that he/she will keep the Access Codes in a safe place chosen in his/her discretion and will not reveal them to any other person. The Client will not proceed and avoid proceeding in any action that could probably allow the irregular or unauthorized access or use of Nenx App and web platform.
7.3. The Client is responsible for all acts or omissions that occur within the Nenx App through the use of his/her registration information. If the Client believes that someone has used or is using his/her registration information, user name or password to access any Service without the Client's authorization, the Client should notify the company's customer Support immediately by email firstname.lastname@example.org or by phone +35722008100. The Client will make every effort possible to keep the Access Codes secret and known only to him and will be liable of any Trading Orders received by the Company through his trading Account under his Access Codes on Nenx. Furthermore, any Trading Orders automatically received by the Nenx App will be automatically considered as received from the Client.
7.4. The Client is responsible to monitor his Account and to notify the Company immediately if it comes to his attention that his Access Codes are lost or being used by an unauthorized third party. Also, the Client agrees to immediately notify the Company should he become aware of any failure by the Client to receive a message within the App indicating the reception and/or execution of an Order, the accurate confirmation of an execution, any information for Client's Account balances, positions or transactions history as well as in case the Client receives a confirmation or anything similar, concerning a Trading Order that he/she did not place.
7.5. The Client agrees not to abuse the Nenx App in an attempt to make illegal profits or to attempt to profit by taking advantage of the server latency, or Applying practices such as price manipulation, lag trading, High Frequency trade or time manipulation.
7.6. The Client acknowledges that the Company will not take action based on Orders transmitted to the Company using electronic means other than those Orders transmitted to the Company using the predetermined electronic means such as the Nenx App and the Nenx web platform, and the Company shall have no liability towards the Client for failing to take action based on such unauthorised Orders.
7.7. The Client agrees to use software programs developed by third parties including but not limited to the generality of those mentioned above, browser software that supports SSL, Data Security Protocols compatible with protocols used by the Company either now or the future. Moreover, the Client agrees to follow the access procedure (Login) of the Company that supports such protocols either through the Nenx App or the Nenx web platform.
7.8. The Company will not be held responsible in the event of an unauthorized access from third persons to information including, but not limited to, electronic addresses and/or personal data, through the exchange of these data between the Client and the Company and/or any other party using the Internet or other network or electronic mean available. The Company adheres to all internationally accepted security measures and protocols, but still in any case, cannot be liable for any malicious unauthorised access by any other unknown fraudulent third party. In such an event the company will be assisting the relevant Law Authorities in detecting and bringing to justice any such criminal activity without any limitation whatsoever.
7.9. The Company is not responsible for any power cuts or any types of failures that prevent the use of the Nenx web platform and/or Nenx App, and cannot be responsible for not fulfilling any obligations under this Agreement because of network connection issues, hardware issues or electricity failures.
7.10. The Company shall have no liability for any potential damage the Client may suffer as a result of transmission errors, technical faults, malfunctions, illegal intervention in network equipment, network overloads, viruses, trojans, system errors, delays in execution, smartphone freezes / operating system failures, malicious blocking of access by third parties, internet malfunctions, network latency, interruptions or other deficiencies on the part of internet service providers. The Client acknowledges that access to Nenx may be limited, erratic or unavailable due to such system errors and that the Company reserves its rights.
7.11. The Company has the right, unilaterally anytime and with immediate effect, to suspend or withdraw / cancel permanently the Client's ability to use any Electronic Service, or any part thereof, without notice, where the Company consider it necessary or advisable to do so, for example due to the Client's non-compliance with the Applicable Regulations, breach of any provisions of this Agreement, on the occurrence of an Event of Default, network problems, failure of power supply, for maintenance, or to protect the Client when there has been a breach of security. In addition, the use of an Electronic Service may be terminated automatically, upon the termination (for whatever reason) of any license granted to the Company which relates to the Electronic Service; or this Agreement. The use of an Electronic Service may be terminated immediately if an Electronic Service is withdrawn by any Financial Market or the Company is required to withdraw the facility to comply with Applicable Regulations.
7.12. The Client remains fully liable for any and all trades on his/her account, and for any credit card transactions, Neteller and PayPal transactions entered into the Nenx App for the Client's account. The Client agrees 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 the Client's failure to perform or settle such a transaction. In the case when a client has used any stolen credit card/s to fund his / her account with the company, and as a result has suffered any financial loss, the company will use all legal means available to pursue such a claim against the client in any jurisdiction in the world and will provide all evidence available to pursue such a claim to any responsible law enforcement agency concerned.
7.13. The Company may, at its sole discretion and without the requirement to provide any explanation, impose volume or other limits on Customer accounts.
7.14. The client agrees to use the information received from the information systems of Gametech (Cyprus) Ltd for the sole purpose of executing transactions inside and within the Nenx App.
7.15. The client further agrees not to use any electronic communication feature of a Service on the Nenx App for any purpose that is unlawful, tortuous, abusive, and intrusive on another's privacy, harassing, libellous, defamatory, embarrassing, obscene, threatening or hateful.
8. Automated trading systems
Unauthorized automatic or semi-automatic trading systems that are installed by the customer within their smartphones or connected via their smartphones or computers or any other similar device that is connected to the internet that requires no human action to perform, will be treated by the Company as a backdoor application performing interface system and can lead to a closure of the account or to a cancelling of the trade/s. This leads to the cancellation of trades made by any client suspected of using any automatic or semi-automatic trading system. The company reserves the right to close the account of any such client found to be using such automated trading systems, without any further explanation.
9. TRADING ORDERS
9.1. Reception and Execution of Transactions
An Order will be processed once it is received through the Nenx App or our Nenx Web platform. It is understood that an Order will not be affected until it is actually considered received by the Company. Once the Client's Orders are received by the Company, they cannot be revoked or cancelled. The Company reserves its right not to accept Client's Orders, in its absolute discretion, and in such a case the Company is obliged to give a reason and promptly notify the Client accordingly. The Customer places his market request at the prices he sees on his Nenx App and the execution process is initiated. The Customer does not have the right to use a Power of Attorney to authorize a third person (representative) to act on behalf of the customer in business relationships with the Company. The Company uses its reasonable endeavours to execute any order promptly automatically through the Nenx App, but in accepting the Client's orders the Company does not represent or warrant that it will be possible to execute such order or that execution will be possible according to the Client's trade. In case the Company encounters any material difficulty in carrying out an order on Client's behalf, for example in case the market is closed and/or due to illiquidity in financial instruments and other market or technical conditions, the Company shall promptly notify the Client of this issue automatically within the Nenx App. Orders can be placed and executed only within the operating (trading) time. The Client's Order shall be valid and in accordance with the type and time of the given Order, as specified in the Nenx App. The time of validity of the Order is always specified, it shall be valid for a specific time period. If any underlying market becomes subject to a specific risk resulting in a predicted fall in value, the Company reserves the right to withdraw the specific market from the Nenx App and web platform. The Company has the right to set control limits in relation to the Client's orders at its own and absolute discretion. Such limits may be amended, removed or added and may include without limitation:
Confirmations for all Transactions that have been executed in the Client's Trading Account on a trading day will be available via the Client's online Account through Nenx as soon as the transaction is executed. It is the Client's responsibility to notify the Company if any confirmations are incorrect. Confirmations shall, in the absence of manifest error, be conclusive and binding on the Client, unless the Client places his/her objection in writing within three (3) Business Days.
9.3. Authorisation of third person to give instructions on behalf of a Client
The Client does not have the right to authorize any other third person to give instructions and/or Orders to the Company or to handle any other matters related to this Agreement.
10.1. The Company will quote prices at which it is prepared to deal with the Client. It is the Client's responsibility to decide whether or not he/she wishes to deal at the price quoted by the Company. Company prices are determined by the Company in the manner set out in the enclosed terms.
10.2. Each price shall be effective and may be used in a dealing instruction prior to the earlier of its expiration time and the time, if any, at which it is otherwise withdrawn by the Company. A price may not be used in a dealing instruction after such time. Each price shall be available for use in a dealing instruction for a transaction with a principal amount not to exceed a maximum determined by the Company. The Client acknowledges that these prices and maximum amounts may differ from prices and maximum amounts provided to other customers of the Company due to network latency or other similar technical issues and may be withdrawn or changed without notice. The Company may in its sole discretion and without prior notice to the Client immediately cease the provision of prices in some or all markets at any time.
10.3. When the Company quotes a price, market conditions may move between Company's sending of the quote and the time the Client's order is executed. Such movement may be in the Client's favour or against it. Prices that may be quoted and/or traded upon, from time to time, by other market makers or third parties shall not Apply to trades between the Company and the Client.
11. REFUSAL TO EXECUTE ORDERS
11.1. The Company has the right, at any time and for any reason and without giving any notice and/or explanation, to refuse, at its discretion, to execute any Order, including without limitation in the following cases:
a. If the Company has adequate reasons to suspect that the execution of an Order is part of an attempt to manipulate the market, trading on inside information, relates to money laundering activities or if it can potentially affect in any manner the reliability, efficiency, or smooth operation of Nenx.
b. If the Client does not have sufficient available funds deposited in his / her account to pay the purchase price of an Order to carry out the transaction in Nenx. In the event that the Company does refuse to execute an order, such refusal will not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his/her assets.
11.2. It is understood that any refusal by the Company to execute any order shall not affect any obligation which the client may have towards the Company or any right which the Company may have against the customer or his/her assets.
12. CANCELLATION OF TRANSACTIONS
12.1. The Company has the right to cancel a transaction if it has adequate reasons / evidence to believe that one of the following has incurred:
13. SETTLEMENT OF TRANSACTIONS
13.1. The Company shall proceed to a settlement of all transactions upon execution of such transactions.
13.2. The Client agrees to be fully and personally liable for the due settlement of every transaction entered into under the client's account with the company.
13.3. Further to the provisions of this Agreement, a statement of Account will be provided by the Company via the Nenx App to the Client once a year, as required by the Law. Any confirmation or proof for any act or statement of Account or certification issued by the Company in relation to any transaction or other matter shall be final and binding on the Client, unless the Client has any objection in relation to such statement of Account or certification and the said objection is communicated in writing and received by the Company within three (3 working days from the receipt or the deemed date of receipt of any statement of Account or certification.
13.4. In the case where the Client is able to have an online statement for his Account on a continuous basis, like in the case of the Nenx App and web platform, then the Company is considered as having fulfilled its obligations under 13.3 and any objections of the Client shall be valid only if received by the Company in writing within three (3) working days from the transaction under objection.
14. CLIENTS FUNDS
14.1. Funds belonging to the Client that will be used for trading purposes will be kept in an account with any bank or financial institution used to accept funds which the Company will specify from time to time and will be held in the Company's name denoted as 'clients account'. It is understood that the Company may hold funds on behalf of the Client in a bank or banks established inside the European Union and the Company has the right to change and or add the Bank/s it uses, as long the relevant Bank complies with all relevant requirements as set out by CySec anytime. The Company will not be liable for the insolvency, acts or omissions of any third party referred to in this clause.
14.2. It is understood that any amount payable by the Company to the Client, shall be paid directly to the same method used by the client initially to add money to his account. Fund transfer requests are processed by the Company within the time period specified on the Company's official Nenx App / website and the time needed for crediting into the client's personal account will depend also on the client's bank account provider or Credit Card Issuer, Neteller or Paypal.
14.3. The Client has the right to withdraw the funds which are not used for bonus covering, free from any obligations from his/her Account without closing the said Account.
14.4. The Company reserves the right to decline a withdrawal request if the request is not in accordance with certain conditions mentioned in this Agreement or delay the processing of the request if not satisfied on full documentation of the Client.
14.5. It is within the Client's terms that any incurring bank fees will be paid by him in case of funds withdrawals from his trading account to his designated credit card or Neteller or PayPal. The Client is fully responsible for the payments details that he/she has provided to the Company and the Company accepts no responsibility if the Client has provided false or inaccurate banking / credit card details.
14.6. The Client agrees that any amounts sent by a credit card, Neteller or PayPal to the Client Account, will be deposited to the Client's trading account at the value date of the payment received and net of any charges / fees charged (if any) by the originating credit card, Neteller or PayPal or any other intermediary involved in such transaction process. In order for the Company to accept any deposits by the Client, the identification of the sender must be verified and ensure that the person depositing the funds is the Client. If these conditions are not met, the Company reserves the right to refund the net amount deposited via the method used by the depositor.
14.7. Withdrawals should be made using the same method used by the Client to fund his/her trading account and to the same remitter. The Company reserves the right to decline a withdrawal with specific payment method and to suggest another payment method where the Client needs to complete a new withdrawal request. In the event that the Company is not fully satisfied with the documentation provided in relation to a withdrawal request, the Company can request for additional documentation and if the request is not satisfied, the Company can reverse the withdrawal request and deposit the funds back to the Client's trading account.
14.8. In the event that any amount received by the Company in the Client's Account is reversed by the Credit Card provider, Neteller or PayPal at any time and for any reason, the Company will immediately reverse the affected deposit from the Client's trading account and further reserves the right to reverse any other type of transactions effected after the date of the affected deposit. It is understood that these actions may result in a negative balance in all or any of the Client's trading account(s).
14.9. No interest will be paid on any Client Account balances. The Client agrees to waive any of his/her rights to receive any interest earned in the funds held in the Bank Account where Client's funds are kept.
14.10. The Client shall clearly specify his/her name and all required information, in accordance with international regulations related to the fight against money laundering and terrorism financing, on any payment instructions if ever required by any financial institution. It is the Company's strict policy not to accept payments from third parties to be credited to the Client's account.
14.11. The Company has the right to refuse a client's transferred funds in any of the following cases:
14.12. In any of the above cases the Company will send back the received funds to the remitter by the same method as they were received and the client will suffer the relevant client's bank account provider charges (if any).
14.13. Client fund withdrawals will be performed from the Company's client portal located in Nenx App and web platform. The Company shall take every effort to notify clients prior to any fund transfer request, of all charges, fees and costs for the said withdrawal.
14.14. The client acknowledges that in case where a client's bank account is frozen for any given period and for any given reason the Company assumes no responsibility and client's funds will also be frozen. Furthermore, the client acknowledges that he / she has read and understood the additional information provided on each payment method available on the Company's client portal.
14.15. The provision of documentation or any other type of Client authentication as may be required from time to time by Anti Money Laundering (AML) regulations, Credit Card companies, Neteller or PayPal and the Company is a prerequisite, prior to the execution of a withdrawal order.
14.16. Withdrawal of credit card deposits: Credit card deposits may be, according to credit card companies' regulations, returned to the same credit card when a withdrawal is performed.
14.17. Credit Card, Neteller & PayPal Deposits: When choosing an account base currency other than EUR, the Client's 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 the Client in the account base currency. The Client hereby accepts that such variations may occur and he/she hereby affirms that shall not seek to object or charge this back. Note that when using EUR as account base currency the above will not be valid.
14.18. Bank Wire Transfers Funding: The Company is strictly not accepting this form of funding a Client's Nenx Trading Account. Any attempt to use such a method to Fund a Client's Account will immediately result in the closing of his / her account with the company, and reversal of any Bank Wire Transferred Amount back to the originating party, minus any banking fees and charges.
14.19. Cash or Cash Equivalent Deposits Funding: The Company is strictly not accepting this form of funding a Client's Trading Account. Neither the Company, nor any of its employees are allowed or authorised to accept any amount in cash or Cash Equivalent for funding a Client's Trading Account. Any attempt by a Client to directly or Indirectly use such a method will immediately result in the closing of his / her account with the company.
14.20. The Minimum Amount accepted by the Company to initially fund a Client's Trading Account via a Credit Card, Neteller or PayPal is €10, and for subsequent funding €20.
14.20. The Minimum Amount accepted by the Company to withdraw funds from a Client's Trading Account via a Credit Card, Neteller or PayPal is €10.
14.21. The Maximum Amount accepted by the Company to fund a Client's Trading Account via a single transaction using Credit Card, Neteller or PayPal is €10,000 (there might be however lower amount limits imposed by your bank, credit card issuer, Neteller and PayPal which the Company is not in a position to know, advise or offer any assistance)
15. COMPANY'S FEES
15.1. The Company is entitled to receive fees from the Client for its Services provided as described in the Agreement as well as compensation for any expenses it might incur for the obligations it will undertake during the provision of the said Investment Services. The Company reserves the right to modify, from time to time the size, the amounts and the percentage rates of its fees providing the Client with a respective notification of such changes accordingly. Notification is made via the Company's Nenx App and web platform.
15.2. It is the obligation of Clients to pay any taxes they might be responsible for, in their respective countries of tax residency, and the company cannot offer any such tax advice or guidance. In case of any value added tax or any other tax obligations that arise in relation to a transaction performed on behalf of the Client or any other action performed under this agreement for the Client, the amount incurred is fully payable by the Client and in this respect the Client must pay the Company immediately when so requested and the Company is fully entitled to debit the account of the Client with the outstanding amount to be settled (excluding taxes payable by the Company in relation to Company's income or profits).
15.3. By accepting the terms and conditions specified in this agreement, the Client has read and understood and accepted the information uploaded and found on the Company's main Nenx App and is publicly available for all Clients, in which all related commission, costs and financing fees are explained. The Company may amend from time to time at its own discretion all such commission, costs and fees. All information relating to the aforementioned amendments will be available on our www.nenx.com/terms website and our Nenx App, which the Client must review and check for changes during the period that he is dealing with the Company and especially before placing any orders with the Company. The Client is deemed to have seen, reviewed and considered the Company's commission, costs and other fees that might be in place as well as of any changes that the company may make thereto from time to time
15.3. The Company does not charge any fees for funding a client's trading account with Nenx, but reserves it's right to amend this policy at its own sole discretion anytime in the future. In such a case, the Company will make it's fee policy publicly available within the Nenx website.
16. Company Conduct and Limited Liability
16.1 The client agrees that his/her use of the Trading Service is at your sole risk. The company undertakes to supply steady trading services on the Nenx App. However, the company assumes no responsibility for any error, omission, interruption, deletion, defect, delay in operation or transmission, communications line failure, theft or destruction or unauthorized access to, or alteration of, the Nenx App or Services. The company is not responsible for any problems or technical malfunction of any telephone network or lines (landline and mobile), computer online systems, servers or providers, hardware, software, failure due to technical problems or traffic congestion on the Internet or on Nenx.
16.2 The company shall not be responsible or liable to the client for any loss of content or material uploaded or transmitted through the Trading Service and the client confirms that he/she will not be liable to the company or any third party for any modification to, suspension of or discontinuance of the Trading Service. To the maximum extent permitted by applicable law, under no circumstances shall the company be responsible for any loss or damage resulting from use of the Nenx App or Services, from any content posted on or through the Nenx App or Services, or from the conduct of any users of the Nenx App or Services, whether online or offline.
16.3 The company reserves the right to refuse or limit any trade without any explanation.
16.4 The company reserves the right to withdraw the Trading Service or elements of the Trading Service at any time, and will not be liable to the client as a result of any such action.
16.5 In case any funds are credited to or debited from the client's Account in error, the client must notify the company of the error without delay. Any sums credited to the client account due to the error must be returned to the company immediately. Funds credited to an Account in error shall not be used for trading and the company reserves the right to void any transaction involving such funds. The parties agree to indemnify each other in respect of any erroneously credited and/or debited funds.
16.6 The company will not be held responsible for any typing, technical, or human error in the operation of the Trading Service including any network loss suffered by any electronic device used to place trades with the company. In the event of error, the company reserves the right to either void any affected trades or to correct the error. Where a correction by the company changes the terms of a trade, the client will be given an opportunity to accept the revised terms before the trade is deemed corrected.
16.7 Where the company is in breach of these terms & conditions, it will only be responsible for any losses suffered by the client as a result of and to the extent that they are a foreseeable consequence to both the company and the client at the time the client last accepted the terms and conditions.
16.8 The company will under no circumstances be held liable for any damages or losses of an indirect nature that are deemed or alleged to have resulted from or been caused by the Trading Service, the Website, Trading Service or their content including, without limitation, delays or interruptions in operation or transmission, communication line failure, any persons use or misuse of the Website, Trading Service or their content, any errors or omissions in content, damage for loss of business, loss of profits, business interruption, loss of business information, or any other pecuniary or consequential loss.
16.9 The company's liability under clause 16.7 above shall be limited to the commission (if any) received by the company in respect of the trade or trades which are the subject of any breach by the company.
16.10 Gametech (Cyprus) Ltd shall not be liable for any damages caused by or due to any force majeure event including but not limited to, trade union action, strikes, defects or inadequacies or incompatibility of the client's hardware or software, interruptions and suspensions in the provision of the internet service, of the telephone service and provision of electricity Or in any case, due to an event beyond the control of Gametech (Cyprus) Ltd which has affected the services and trade on Nenx.
16.11 The company will not be responsible for any breach of these terms and conditions caused by circumstances beyond its reasonable control. The provision of services by Gametech (Cyprus) Ltd depends, among others, on third parties. Gametech (Cyprus) Ltd is not liable for any acts or omissions by third parties or for damages or losses or costs incurred by customers or third parties due to or associated with such acts or omissions.
16.12 The company reserves the right to withdraw the Website, the Nenx Trading Service or elements of either at any time, and save for any rights that the client may have over deposited funds in his/her Account, will not be liable to the client as a result of any such action.
16.13. In no event shall Gametech (Cyprus) Ltd or any of its officers, directors, employees, or agents be liable to the client for any damages whatsoever, including without limitation indirect, incidental, special, punitive, or consequential damages, arising out of or in connection with the client's use of the Nenx App or services, including but not limited to the quality, accuracy, or utility of the information provided as part of or through the Nenx App or for any investment decisions made on the basis of such information, whether the damages are foreseeable and whether or not Gametech (Cyprus) Ltd has been advised of the possibility of such damages.
16.14. The foregoing limitation of liability shall Apply to the fullest extent permitted by law in the Applicable jurisdiction which is the Republic of Cyprus, and in no event shall Gametech (Cyprus) Ltd cumulative liability to the client exceed the amount of money he/she deposited in their account on the Nenx App in relation to the transaction giving rise to such liability.
17. Duration of the Agreement and Amendment Thereof
17.1. This Agreement shall take effect upon client acceptance by the Client who digitally accepts this Agreement by clicking the radio button on our Nenx App and or Web platform. It shall be valid for an indefinite time period until its termination from either the Company or the Client or both.
17.2. The Agreement may be amended on the following cases:
a. Unilaterally by the Company if such amendment is necessary following an amendment of the law or if CySEC or any other regulatory authority issues decisions or binding directives which affect the Agreement. In any case, the Company shall notify the Client of the said amendment either by email or push notification or through its main webpage and the Client's consent shall not be required for any such amendment.
b. In cases where the amendment of the Agreement is not required by any change in the legal framework, the Company shall notify the Client of the relevant amendment either by email or push notification or through publication in its www.nenx.com webpage. If objections arise, the Client may terminate the Agreement within five (5) days from the notification by sending a registered letter to our company's registered address, and on the condition that there are no pending trades or issues with the Client. Upon expiry of the above deadline without the Client having raised any objection, it shall be considered that the Client consents and/or accepts the content of the amendment.
18.1. The Client has the right to terminate the Agreement by giving the Company at least ten (10) days written notice, specifying the date of termination in such, on the condition that in the case of such termination, there are no Client's pending obligations or ongoing investigation for any matter.
18.2. The Company may terminate the Agreement by giving the Client a five (5) days written notice, specifying the date of termination therein.
18.3. The Company may terminate the Agreement immediately without giving any notice in the following cases:
18.4. The termination of the Agreement shall not in any case affect the rights which have arisen, existing commitments or any contractual provision which was intended to remain in force after the termination and in the case of termination, the Client shall pay:
18.5. In case of breach by the Client in accordance with Paragraphs 17.3(e) and 17.3 (f), the Company reserves the right to reverse all previous transactions which place the Company's interests and/or all or any its clients' interests at risk before terminating the Agreement.
19. EVENTS OF DEFAULT AND RIGHTS ON DEFAULT
19.1. The following shall constitute "Events of Default" on the occurrence of which the Company shall be authorised to exercise its rights in accordance with Paragraph 19.2 below:
19.2. On the occurrence of an Event of Default the Company shall be entitled to take, in its absolute discretion, any of the following actions at any time and without giving prior notice to the Client:
20. ACKNOWLEDGEMENT OF RISKS
20.1. It shall be noted that due to market conditions and fluctuations, the value of Financial Instruments may increase or decrease, or may even be reduced to zero. Regardless of the information the Company may provide to the Client, the Client agrees and acknowledges the possibility of these cases occurring.
20.2. The Client is aware and acknowledges that there is a great risk of incurring losses and damages to his/her deposited capital as a result of the investment activity through the Company and the Company's Nenx App and web platform and accepts that he / she is willing to undertake this risk upon entering into this business relationship. The client agrees to use the Nenx App at his/her own risk. Without limiting the foregoing, the financial services contained within this Nenx App 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 trading of Binary Options.
20.3. The Client declares that he/she has read, understood and unreservedly accepted the following:
20.4. The maximum loss that may be incurred by any customer is the amount of money deposited by them into their Nenx Client's Account.
20.5. The Client acknowledges and accepts that there may be other risks which are not contained in Section 19 and that he has read and accepted all information under the titles "Risk Disclosure" as this information is loaded on the Company's www.nenx.com which is in the public domain and available to all Clients
21. CONFIDENTIAL INFORMATION
21.1. The Company does not have any obligation to disclose to the Client any information or take into consideration any information either when making any decision or when it proceeds to any act on behalf of the Client, unless otherwise agreed and stated in this Agreement and where this is imposed by the relevant Laws and Regulations and directives in force.
21.2. The Company will never disclose any private or otherwise confidential information in regards to our clients and former clients to third parties without the express, written consent of its clients, except in such specific cases in which disclosure is a requirement under law, or is otherwise necessary in order to perform verification analysis on the client's identity for the purposes of safeguarding their account and securing their personal information.
21.3. The Company will handle all of Client's personal information according to the relevant Laws and Regulations for the protection of personal information.
21.5 Without limiting the foregoing, the Company, a regulated Cyprus Investment Firm, is required to comply based on the Intergovernmental Agreement between Cyprus and the United States and has taken all reasonable steps to be considered in compliance with FATCA. The Client acknowledges and accepts that the Company, as an FFI, is required to disclose information in relation to any US reportable persons to the relevant authorities, as per the reporting requirements of FATCA. The Client may contact the Company for additional information and/or clarifications prior to the signing of this Agreement.
22. COMPLAINTS PROCEDURE
The Company has put in place internal procedures for the handling of complaints fairly and promptly. The Client may submit a complaint to the Company via email at: email@example.com
The Company will send the client a written acknowledgement of his/her complaint promptly following receipt, enclosing details of the Company's complaints handling procedures, including when and how the Client may be able to refer his/her complaint to the CySEC which is the relevant regulatory body. Clients are advised to review the Company's 'complaints handling procedures' as made available on our website www.nenx.com and within our Nenx App.
23. CONFILICT OF INTEREST
Under Applicable Regulations the Company is required to have arrangements in place to manage conflicts of interest between the Company and its clients and between other clients. The Company will make all reasonable efforts to avoid conflicts of interest and when they cannot be avoided the Company shall ensure that clients are treated fairly and at the highest level of integrity and that their interests are protected at all times.
The client acknowledges and accepts that he has read and accepted the "Conflicts of Interest" document, which was readily available to him/her during the registration process and which is uploaded on the Company's www.nenx.com and Nenx App.
24. REGISTRATION INFORMATION AND REQUIREMENTS
24.1. During the account opening procedure, the Client will need to provide their name, address, date of birth, email, telephone number and other information that will allow us to identify you and categorize you according to the "Client Classification Policy" of the Company. The Company reserves the right to ask for additional identification documents, if deemed necessary.
24.4. Gametech (Cyprus) Ltd is permitted to deny the creation of a user account for any physical entity for any reason whatsoever or without giving any reason at all.
24.5. No person can register on Nenx as the representative of a company.
24.6. The client explicitly and unambiguously agrees that the Company may use all or part of the information he/she supplies concerning their trading account, the transactions they undertake through it and the interactions which they perform with the Company on behalf of the Company. All interactions the customer undertakes with the Company will be stored by the Company for the purposes of record keeping, as required by the Law and may be used by the Company in case of disputes between the customer and the Company or on request by CySEC or any other competent authority.
24.7. In case a customer provides false information, Gametech (Cyprus) Ltd reserves the right to retain money from that client until the clarification of the customer's identity is done. All costs incurred or resulting from lost trades are attributed to the customer.
24.8. Only persons of full age who are citizens of the EEA (except Belgium) and persons of full age who are non-citizens of the EEA (except Belgium) but whose residence is in the EEA (except Belgium) can be customers of Gametech (Cyprus) Ltd due to legal provisions. The Company does not accept any USA citizens as clients or citizens of any country in the world that International sanctions are in place at any specific time period, now or in the future.
25. LEGAL RESTRICTIONS
25.1. Without limiting the foregoing, the client understands that laws regarding financial contracts vary throughout the world, and it is his/her obligation alone to ensure that they fully comply with any law, regulation or directive, relevant to their country of residency with regards to the use of the Nenx.
25.2. For avoidance of doubt, the ability to access Nenx App does not necessarily mean that the company's Services, and/or the client's activities through it, are legal under the laws, regulations or directives relevant to the client's country of residency.
25.3. The client hereby declares that the money invested in his/her Nenx account with Gametech (Cyprus) Ltd do not originate from drug trafficking, abduction, money laundering or any other criminal or illegal activity.
25.4. The client acts for their self and not as a representative or a trustee of any third person.
25.5. The client agrees and understands that in the event that the Company has such proofs that are adequate to indicate that certain amounts, as classified above, received by the client are proceeds from illegal acts or products of any criminal activity and/or belonging to a third party, the Company reserves the right to refund these amounts to the sender, either this being the Client or a beneficial owner. Furthermore, the client also agrees and understands that the Company may reverse any transactions performed in the Trading Account and may terminate this agreement. The Company reserves the right to take any legal action against the client to cover and indemnify itself upon such an event and may claim any damages caused to the Company by the client as a result of such an event.
25.6. The client declares that they are over 18 (eighteen) years and that they have full legal capacity to enter into this Agreement.
25.7. The client understands and accepts that all transactions in relation to trade in any of the Financial Instruments, will be performed only through the Nenx App provided by the Company.
25.8. The client guarantees the authenticity and validity of any document handed over by them to the Company.
26. RIGHTS OF GAMETECH (CYPRUS) LTDWITH REGARD TO THE USER ACCOUNT
26.1. Gametech (Cyprus) Ltd reserves the right in its sole discretion to refuse, cancel the Services, and/or refuse to distribute profits to anyone for any legitimate reason including, but not limited to:
26.2. The customer explicitly and unambiguously agrees that Gametech (Cyprus) Ltd may restrict the trade, the payments, the services or any other aspects concerning the user account, shall that be necessary due to mandatory statutory requirements. This comprises, among other things court decisions, provisions by tax and enforcement authorities as well as other restrictions caused by other official requirements. The client also understands that Gametech (Cyprus) Ltd may be obliged in compliance with the aforementioned provisions and requirements to pay out or lock monetary amounts of the client account. In such a case the user cannot make any claims for loss or damage against Gametech (Cyprus) Ltd.
26.3. The client can only be sure that a certain order has been carried out if the execution of that order has officially been confirmed by Gametech (Cyprus) Ltd within its Nenx App or web platform. The client is obliged to check the status of orders before carrying out further orders. The user alone shall be responsible in case that already requested orders are identical with new orders by the user, even if this leads to a negative balance on his account.
26.4. The client is responsible for checking confirmations of order or account statements provided or made available in any form from Gametech (Cyprus) Ltd immediately upon receipt or publication within the Nenx App. Provided the customer makes no objection within three (3) working days, Gametech (Cyprus) Ltd assumes that the account statements are correct.
27. INACTIVE / DORMANT ACCOUNTS
27.1. If over a period of six (6) months no trading transactions are processed over a user account, the user account will be considered as "dormant". A client account receives the status "closed" on the first business day after twelve (12) transaction-free months. As soon as a user account has received the status "closed"
27.2. The status "closed" will be rescinded as soon as the first transaction over a closed account is processed. Gametech (Cyprus) Ltd will, no longer charge account keeping fees, starting from the date that the account is no longer "closed" and will refund any such fees as long as a new deposit is made to the client account and at least one new trade is made using our Nenx App.
27.3. Full details can be viewed in the separate Gametech (Cyprus) Ltd Dormant Account Policy
28. DEPOSITS AND WITHDRAWALS
Gametech (Cyprus) Ltd enables its customers, in accordance with the deposit conditions displayed on the Nenx App, to make deposits onto the respective user accounts through various payment systems like credit cards, Neteller and PayPal. Bank transfers deposits or withdrawals are not possible. Deposits or Withdrawals in cash or Cash Equivalent are not possible. Gametech (Cyprus) Ltd reserves itself the right, dependent on the chosen payment method to set minimum or maximum amounts for deposits. The minimum initial deposit amount is €10, and for subsequent funding the minimum amount is €20. Gametech (Cyprus) Ltd does not currently charge any fees for funding a client's account, but reserves itself the right, to charge transaction fees, dependent on the chosen payment method in the future. Gametech (Cyprus) Ltd reserves itself the right to add further payment options or to limit or stop the acceptance of existing ones. Chargebacks, cancellation fees, returned direct debits and similar costs, that may arise from incorrect deposits will be borne by the customer.
Gametech (Cyprus) Ltd Finance Department checks and processes all withdrawal requests manually. There are no automatic withdrawals. The minimum withdrawal amount onto the user account is €10. All deposited amounts must be used for the trading on the Nenx platform. The sum of the deposited amounts must be traded at least once in order to enable a free withdrawal. If those criteria are not met, Gametech (Cyprus) Ltd reserves itself the right to charge fees. If a withdrawal request has been placed, the user account will not automatically (that is to say simultaneously) be invoiced (that is to say subtracted) the desired withdrawal amount. Gametech (Cyprus) Ltd processes all withdrawal requests within five (5) business days, as soon as the withdrawal request has been checked. For this the following conditions need to be met:
a. The withdrawal request contains all necessary information.
b. The withdrawal request (incl. target account, credit card, etc.) is to the name of the Gametech (Cyprus) Ltd account owner.
c. Gametech (Cyprus) Ltd has all documents for unambiguous identification of the person submitting the request available or the credit card used (the company reserves its right to request a colour copy of both sides of the credit card with the last four numbers visible, for mitigating it's risk to fraud).
d. The desired withdrawal request is higher or equal to the minimum withdrawal amount
e. The withdrawal account shows the according coverage. the money is debited from the user account and it may, dependent on the bank of the user, take 5 to 7 additional business days, until the withdrawal amount is credited to the target account of the user. Gametech (Cyprus) Ltd has no influence on the final length of the chargeback.
f. The client's account is in good standing and there are no pending issues concerning fraudulent or other suspicious activity.
As soon as the withdrawal request has been granted by the Gametech (Cyprus) Ltd Finance Department, Gametech (Cyprus) Ltd reserves itself the right to reject a withdrawal request over certain payment methods and may without giving reason demand the withdrawal in form of a bank transfer onto a bank account of the user. Claims concerning withdrawals shall be submitted within 30 days after request of withdrawal
29. AML PROCEDURES
29.1. No person is allowed to use or attempt to use the Nenx App or web platform for the purpose of money laundering or terrorist financing. Gametech (Cyprus) Ltd has adopted the strictest anti-money laundering (AML) procedures and our KYC policy is elaborate. Gametech (Cyprus) Ltd reserves the right to refuse to do business with, to discontinue to do business with, and to reverse the transactions of, customers who do not accept or conform to the following AML requirements and policies:
29.2. Clients must provide all requested information upon registration and agree to provide any additional information that the Company might request from them at anytime.
29.3. Withdrawals will only be paid to the individual client who initially registered to open a Nenx account and using the same funding method.
29.4. When a customer funds an account by means of credit/debit card deposits, Neteller or PayPal, withdrawals will only be distributed to the individual whose name appears on the card used to make the deposit and only be paid back to the same card or Neteller or PayPal account.
29.5. Only one account is allowed per person.
29.6. No withdrawals are allowed on accounts proved to be opened in false names or on multiple accounts opened by the same person against our rules and procedures.
29.7. Gametech (Cyprus) Ltd may, from time to time, at its sole discretion, require a customer to provide additional proof of identity such as notarized copy of passport or other means of identity verification as it deems required under the circumstances and may at its sole discretion suspend an account until such proof has been provided to its satisfaction
30. FINANCIAL INFORMATION
30.1. Gametech (Cyprus) Ltd may make available to the client through one or more of its Services a broad range of financial educating information that is generated internally or obtained from agents, vendors or partners ("Third Party Providers"). This includes, but is not limited to, financial market data, quotes, news, analyst opinions and research reports, graphs or data ("Financial Information").
30.2. Financial Information provided on Nenx is not intended as investment advice. Gametech (Cyprus) Ltd does not endorse or Approve the Financial Information, and we make it available to the client only as an educating service for his/her own convenience, as we believe that educated and well informed clients are in a better position to understand the risks and mechanics of any financial trade. Gametech (Cyprus) Ltd and its Third Party Providers do not guarantee the accuracy, timeliness, completeness or correct sequencing of the Financial Information, or warrant any results from their use or reliance on the Financial Information.
30.3. Financial Information may quickly become unreliable for various reasons including, for example, changes in market conditions or economic circumstances. Neither Gametech (Cyprus) Ltd nor the Third Party Providers are obligated to update any information or opinions contained in any Financial Information, and the company may discontinue offering Financial Information at any time without notice.
30.4. It is the client's duty to verify the reliability of the information on Nenx and its suitability to your needs. The company excludes any liability for any claim, loss or damage of any kind allegedly caused by information presented on the Nenx App or referred to by the Nenx App.
31. GAMETECH (CYPRUS) LTD BONUS POLICY
31.1 Gametech (Cyprus) Ltd offers a number of bonus programs to their new and loyal Nenx customers. These Bonus are valid for limited time periods and their conditions can be subject to amendments without prior notice, by the sole discretion of Gametech (Cyprus) Ltd. Each offered Bonus has its own Conditions clearly stated within the notification of each Bonus, and the Client who is offered any specific Bonus has the ability to accept or ignore any offered Bonus. There is no obligation by a client to accept any offered Bonus, if he / she thinks that this is not up to his / her expectations or the conditions imposed are thought to be imposing any restraint (i.e. wagering or time restraint) that he / she is not willing to accept. The Company reserves its right when or to which Client it will be offering any type of Bonus, and is under no obligation to offer any specific Bonus to all its clients. The company reserves its right to offer various types of Bonuses with varying levels of Wagering requirements from a minimum 10 times wagering to a maximum of 40 times wagering, and the specific wagering requirement will be very clearly stated on each offered Bonus conditions. Furthermore, the company reserves its right to adjust the minimum and maximum deposit amounts on each and every offered Bonus. The company will not be offering any Welcome Bonus to Clients before conducting the appropriateness test.
Nenx clients could be offered any the following types of bonuses upon the sole discretion of the company:
31.2 Received bonus credits can immediately be used for trading.
31.3 Prerequisite for the disbursement of credits earned through bonuses is volume dependent on trading through the Gametech (Cyprus) Ltd Nenx App and web platform. The following condition must be met:
Unless otherwise stated in the specific terms and conditions that apply to each type of bonus, the client agrees by accepting such terms to wager ten – forty times the total amount of the bonus amount prior to a withdrawal, as specified on the exact conditions clearly stated on each Bonus offer.
For each granted bonus credit, transactions with a total value greater than or equal to 10-40 times the bonus value are required (The company will clearly state the wagering requirement levels between 10-40 on the conditions of every Bonus offered at any specific time)
In the case that the total or partial amount of the deposit for which the bonus was granted is disbursed before the amount of 10-40 times wagering requirements (as stated above) the bonus value is used for trading, the following conditions Apply:
31.4 The bonus can be transferred to the user account of the Gametech (Cyprus) Ltd customer only if the required conditions are met.
31.5 A welcome bonus will be granted only once per customer.
31.6 Amounts used for trading by customers will first be taken from the credit established by a customer as a safety deposit. Bonus credits will be utilized for trading only after the credit of a customer's safety deposit has been depleted.
31.7 Disbursement of the customer's safety deposit credit from his Gametech (Cyprus) Ltd user account, before having met all the bonus conditions, will result in the immediate cancellation of all bonus credits from the customer account.
31.8 Any manipulation or other type of deception or any such attempt to manipulate or deceive the Company within the context of the provision of Gametech (Cyprus) Ltd Nenx Bonus programs will result in the immediate closure of the Nenx user account and cancellation of the accumulated credit.
31.9 A customer can only get one bonus with wagering requirements attached at any one time and is eligible to get another such bonus only once the previous bonus wagering requirements have been fulfilled.
31.10 All promotions, bonuses or special offers are subject to promotion−specific terms and conditions and any complimentary bonuses credited to customer's account must be used in adherence with such terms and conditions.
31.11 The Company reserves the right to withdraw or amend any promotion, bonus or special offer at any time, including any terms and conditions.
31.12 More information on the Company's Bonus and examples as how to use a Bonus can be seen in the relevant 'Bonus Policy' document available in our Nenx website and App.
32.1. Gametech (Cyprus) Ltd might provide a link within its Nenx App or web platfrom to other third party websites that offer Investors Education Training and Informative videos etc. Such links to any external website is not an endorsement, authorization, sponsorship or affiliation with respect to such website, its owners or its providers.
32.2. Gametech (Cyprus) Ltd cautions the client to ensure that he./she understands the risks involved in using such third party websites or material before retrieving, using, relying upon anything via the Internet. Links to these third party websites are provided solely for their convenience, and he/she agrees that under no circumstances will they hold Gametech (Cyprus) Ltd liable for any loss or damage caused by use of or reliance on any content, goods or services available on other third party websites.
33. GENERAL PROVISIONS
33.1. The Client acknowledges that no representations were made to him / her by or on behalf of the Company which have in any way incited or persuaded him/her to enter into the Agreement.
33.2. In case any provision of the Agreement is or becomes, at any time, illegal, void or non-enforceable in any respect, in accordance with a law and/or regulation of any jurisdiction, the legality, validity or enforceability of the remaining provisions of the Agreement or the legality, validity or enforceability of this provision in accordance with the law and/or regulation of any other jurisdiction, shall not be affected.
33.3. All Transactions on behalf of the Client shall be subject to the laws which govern the establishment and operation, the regulations, arrangements, directives, circulars and customs (jointly hereinafter called the "Laws and Regulations") of the Cyprus Securities and Exchange Commission (CySEC), the Central Bank of Cyprus and any other authorities which govern the operation of the Investment Firms (as defined in such Laws and Regulations), as they are amended or modified from time to time. The Company shall be entitled to take or omit to take any measures which it considers desirable in view of compliance with the Laws and Regulations in force at the time. Any such measures as may be taken and all the Laws and Regulations in force shall be binding for the Client.
33.4. The Client shall take all reasonably necessary measures (including, without prejudice to the generality of the above, the execution of all necessary documents) so that the Company may duly fulfil its obligations under the Agreement
33. INTELLECTUAL PROPERTY
34.1. All content, trademarks, services marks, trade names, logos, images, sounds and icons are the property of Gametech (Cyprus) Ltd or its affiliates or agents and are protected by copyright laws and international treaties and provisions. The client will not attempt to hack, make unauthorised alterations to or introduce any kind of malicious code to the Website. As such, the client will not, without limitation, (a) reverse engineer or decompile (in whole or in part) any software available through the Website; or (b) make copies, modify, reproduce, transmit, alter or distribute all or any part of the Website or any material or information contained on it.
34.2. The client agrees not to delete any copyright notices or other indications of protected intellectual property rights from materials that you print or download from the Nenx App. The client will not obtain any intellectual property rights in, or any right or license to use such materials or the Nenx App, other than as set out in this Agreement.
34.3. Images displayed on the Nenx App are either the property of Gametech (Cyprus) Ltd or used with written permission. The client agrees 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 Gametech (Cyprus) Ltd. The Trading Service and all pictures, graphics, photographs, animations, videos, music, audio and text on the Website, and the Software are and shall remain the company's property or the property of its respective licensors and are protected by intellectual property laws, including copyright.
34.4 Except as permitted by these terms and conditions, the client may not copy, use, modify, create derivative works from or distribute the Software or written materials associated with the Trading Service, decode, reverse engineer, dissemble, decompile or otherwise translate or convert the Software or any part of it or transfer, loan, lease, assign, rent or otherwise sublicense the Software or do any of the above to any copy, adaptation, transcription, or merged portion of the Software.
34.5 The content of the Website is protected by copyright, trademarks, database right and other intellectual property rights. The client may retrieve and display the content of the App and or Website on a computer screen, store such content in electronic form on disk or smartphone (but not any server or other storage device connected to a network) or print one copy of such content for the client's own personal, non-commercial use, provided he/she keeps intact all and any copyright and proprietary notice. The client may not otherwise reproduce, modify, copy or distribute or use for commercial purpose any of the materials or content on the Website without written permission from the company.
34.6 The company may from time to time display or use intellectual property belonging to third parties. Unless otherwise indicated, use of such intellectual property by the company should not be taken as any form of endorsement or recommendation by such third party of the company or the Trading Services.
34.7. Unless expressly stated otherwise are the Gametech (Cyprus) Ltd surrendered materials and / or messages, including ideas, know-how, techniques, marketing plans, information, questions, answers, suggestions, e-mails and comments, neither confidential nor will the customer hold the intellectual property in it. The agreement to the Terms and Conditions shall be regarded as authorizing the Gametech (Cyprus) Ltd to use any customer data (excluding the personal identification data of the customer). Such use does not require additional client approvals and / or will not be billed separately.
Subject to Applicable Regulations, any communication between the company and the client using electronic signatures and any communications via the company website and/or Electronic Services shall be binding as if they were in writing. Orders or instructions given to the client via e-mail or other electronic means through our Nenx App will constitute evidence of the orders or instructions given.
36. RECORDING OF TELEPHONE CALLS
The company will record all incoming & outgoing telephone conversations with clients with a general notification warning but without use of any warning tone, so as to ensure the clarity and integrity of all telephone communication by clients and the company according to the relevant legislation. Such records will be solely the company's property and accepted by the client as evidence for anything that may arise. All recordings will be kept securely by the company according to the requirements of the relevant regulatory authorities.
Company records, unless shown to be wrong, will be evidence of the client's dealings with the company in connection with its services. The client will not object to the admission of company records as evidence in any legal proceedings because such records are not originals, are not in writing nor are they documents produced by a computer. The client will not rely on the company to comply with his/her record keeping obligations, although records may be made available to the client on request at the company's absolute discretion. The client agrees to keep adequate records in accordance with Applicable Regulations to demonstrate the nature of trades and the time at which such trades are submitted. The client can access their statements online at any time via the Nenx App and web platform.
38. INVESTOR COMPENSATION FUND
Gametech (Cyprus) Ltd participates as a member in the Investor Compensation Fund for clients of Cyprus Investment Firms (CIFs) which was established under the Investment Firms Law 2002 as amended and replaced by Law 144(I)/2007 and the Establishment and Operation of an Investor Compensation Fund for Customers of CIFs Regulations of 2001, which were issued under the Law 144(I)/2007. The Fund compensates the covered clients for claims arising from the covered services provided by its members, as long as failure by the member to fulfil its obligations has been ascertained notwithstanding a relevant obligation by the member of the Fund in accordance with the legislation and the terms which govern its agreement with the covered client and regardless of whether the said obligation of the member of the Fund is based on the agreement or on wrongdoing.
In the event described above, a covered client, who in accordance with out Investor Compensation Fund Guide is a client categorized as a retail client, shall be entitled to compensation, not exceeding twenty thousand Euros (€20,000). The said amount applies to the client's aggregate claims against the company.
39. NENX APPLICABLE LAW, JURISDICTION
This Agreement and all transactional and contractual relations between the Client and the Company are governed by the Laws of the Republic of Cyprus and the competent court for the settlement of any dispute which may arise between them shall be the District Court of Cyprus in which the Company's headquarters are located at any time. The Company reserves the right to bringing an action to the courts of any other jurisdiction in the case of any legal action against any client that does not have its permanent residency in the Republic of Cyprus.
40. WAIVER OF IMMUNITY AND CONSENT TO ENFORCEMENT
The client irrevocably waives to the fullest extent permitted by the Republic of Cyprus Applicable law, with respect to him/herself and his/her revenue and assets (irrespective of their use or intended use) all immunity on the grounds of sovereignty or other similar grounds from suit; jurisdiction of any courts; relief by way of injunction, order for specific performance or for recovery of property; attachment of assets (whether before or after judgment); and execution or enforcement of any judgment to which you or your revenues or assets might otherwise be entitled in any Proceedings in the courts of any jurisdiction and irrevocably agree that you will not claim any immunity in any Proceedings. The client consents generally in respect of any Proceedings to the giving of any relief or the issue of any process in connection with such Proceedings, including, without limitation, the making, enforcement or execution against any property whatsoever (irrespective of its use or intended use) of any order or judgment which may be made or given in such Proceedings.