These Terms of Service (the “Agreement”) govern the relationship between Sparkcoin Xchange (the “Company”), a company incorporated under the laws of St. Vincent and the Grenadines, and you, the user (the “Client”), of the Sparkcoin Xchange website (the “Website”) and its trading platform (the “Platform”). By registering an account, depositing funds, or using the Platform, the Client agrees to be bound by this Agreement, including all policies referenced herein, such as the Privacy Policy, Payment Policy, Withdrawal Policy, and Anti-Money Laundering Policy, available on the Website. This Agreement takes effect upon the Company’s receipt of the Client’s initial deposit.
Account: A personalized account registered in the Client’s name, recording all transactions on the Platform.
Bid/Ask: The lower (Bid) and higher (Ask) prices in a quote, representing the prices at which the Client may sell or buy.
CFDs: Contracts for Difference, where the Client and Company exchange the difference in an instrument’s value from the opening to the closing of a transaction.
Digital Option: A derivative instrument where the Client predicts the price movement of an asset at expiry, with payouts based on accurate predictions.
Financial Instruments: Instruments available for trading on the Platform, as defined in Section 3.
KYC Documents: Documents required for identity verification, including passport/ID, utility bills, or corporate documents for legal entities.
Market Maker: The Company, providing Bid and Ask prices as the Client’s counterparty.
Spread: The difference between Bid and Ask prices, considered a commission for the purposes of this Agreement.
Trading Platform: The Company’s online system for real-time quotes, order placement, and transaction management.
The Company provides execution-only trading services through the Platform, facilitating transactions in Financial Instruments without offering investment advice or account management. The Client acknowledges that the Company acts as a Market Maker, executing orders as the principal counterparty. The Company is not obligated to monitor transactions, issue margin calls, or close open positions unless explicitly agreed. Transactions are subject to the terms of this Agreement and the Client’s available account balance.
The Client shall:
- Provide accurate and complete KYC documents within 14 days of account registration.
- Ensure sufficient funds in the Account to cover transactions, with deposits serving as collateral.
- Secure their Account credentials and accept responsibility for all orders placed through the Account.
- Comply with applicable laws and regulations in their jurisdiction.
The Client may cancel an order within 3 seconds of placement, subject to unchanged market prices, or accept a buyout offer from the Company, acknowledging the risks and costs associated with these options.
The Company executes orders as a Market Maker, acting as the Client’s counterparty. Orders are processed promptly and sequentially, subject to technical reliability. The Client acknowledges risks of errors, delays, or unauthorized access to the Account and agrees to indemnify the Company for losses arising from such issues, except in cases of the Company’s gross negligence or fraud.
The Company is not liable for service interruptions, system failures, or third-party actions beyond its control, including force majeure events. The Company’s liability is limited to losses directly resulting from its gross negligence, willful default, or fraud. The Client indemnifies the Company against liabilities arising from the Client’s actions, except where caused by the Company’s misconduct.
The Client consents to the collection, processing, and storage of personal data (e.g., name, contact details, trading history) to comply with regulatory requirements and facilitate services. The Company may share data with third parties solely for transaction processing, ensuring compliance with applicable laws. Data is protected against unauthorized access and retained for 5 years post-Agreement termination.
The Company may charge fees for services, including spreads and swaps, as detailed on the Website. Fees may be amended with notice. The Client authorizes the Company to deduct fees from the Account. The Company may pay commissions to third parties based on transaction volume.
This Agreement is effective until terminated by either party. The Company may terminate immediately if the Client fails to provide KYC documents or breaches the Agreement, with no obligation to pay profits. Upon termination, the Company will return the remaining Account balance, net of fees, unless prohibited by law.
Trading Financial Instruments, including CFDs and cryptocurrencies, involves significant risk of loss. The Client acknowledges understanding these risks, as detailed in the Risk Disclosure on the Website, and accepts sole responsibility for trading decisions.
All content on the Website is the property of Sparkcoin Xchange or licensed third parties. The Client may not copy, distribute, or use content commercially without permission. Client-submitted information is non-confidential and may be used by the Company without compensation.
The Website may include third-party content or links for informational purposes. The Company is not liable for the accuracy or consequences of using such content, and the Client accesses it at their own risk.
The Company may offer benefits (e.g., VIP status, tournaments) at its discretion, subject to conditions that may change without notice. Abuse of benefits, such as creating multiple accounts, is prohibited. Clients may opt out of benefits by contacting support.
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