This Terms and Conditions ( “Agreement” ) is a contract between you ( “You”, “User” ) and
“Kodimax”( “we” or ” Our ” ) and is applied in case of use of:
(A) The website Kodimax is at https://kodimax.com and any associated-hosted site or mobile applications are collective ” Kodimax Site”;
(B) Any of the services offered by Kodimax ( together with Kodimax website, “Kodimax Services”).
Service – services described in section 2 to this Agreement.
Operation – action performed at the Client’s Account, connected with but not limited to crediting of funds, return of funds, opening and closing of trading transactions.
Account – unique personified registration of accounting of transactions/operations on the trading platform of the Company.
Services of the Company – the services provided by means of a trading platform of the Company.
Services of the Company comprise the use of the trading platform of the Company, customer support, analytics, news and market information.
The Company shall fulfill trade operations of the Client and the Company does not provide trust services and consultations on trading. The Company can conduct trading operations of the Client even in case such trading operation may be unprofitable for the Client.
The Company shall not be financially liable for the results of the Operations conducted by the Client. The Client is the only authorized user of the Company’s services. The Client is irreplaceable subject of legal relations emerging from the provisions of the Agreement herein. Client’s rights cannot be delegated, and obligations cannot be imposed on another person.
The Client has the right to cancel his order given to the Company within 3 seconds after the moment of giving such order to the Company (hereinafter referred to as the “Cancellation”). Three seconds from the moment of giving the order to the Company by the Client via the platform, the Company may (but is not obliged to) offer to buy-out the CFD position from the Client and the Client has the right to agree to such offer.
The Client is entitled to use such Cancellation or Buy-out option subject to the conditions specified on the platform. Such conditions can also include fees charged by the Company. Such fees are specified on the platform. The Company is obliged to provide all necessary information as to the conditions of Cancellation and Buy-outs, their cost, etc. The Client acknowledges and agrees that provision of such information on the platform is enough. The Client acknowledges and agrees that the use of a Cancellation or a Buyout is very risky to the Client if the cost of Cancellation and/or Buyout depends on the market situation. The Client acknowledges and agrees that he bears all the risks associated with the use of Cancellation and/or Buyout.
It is understood and agreed by the Client that the Company may from time to time and at its own discretion, utilize a third party to hold its client funds, for the purpose of offering additional PSPs. These funds will be held in segregated accounts from the Third Party’s own funds and will not affect the rights of the Client to their funds.
The Client shall be entitled to:
Give the Company an order to conduct trading Operations on the Website, provided by the Agreement herein; In case of absence of debt to the Company, to demand the Company to fulfill its financial obligations to the extent of free amount of funds at the Company’s Account;
In case a disputable situation occurs, to make a claim properly in an official letter or via email to the account specified by the Company;
Unilaterally Terminate the Agreement herein in the case of which no debt to the Company exists.
The Client shall be obliged to:
Fulfill the provisions of the Agreement herein conducting Operations on the Website;
To be exclusively responsible for all actions resulted from usage of usernames and/or passwords;
To be exclusively responsible for all his/her actions, including giving orders to conduct Operations on the Website;
To be exclusively responsible for correct trading strategy choices and consideration of all possible risks;
Be completely responsible for preserving confidentiality of information received from the Company and to accept risk of financial loss that may result from unauthorized access to his/her own Account by any third party.
Notify the Company of any changes of contact details and any other changes of the provided personal data within 7 (seven) calendar days since such changes come into effect.
Register only 1 (one) Account in the Company. In case that the Client owns multiple accounts, the transactions and the financial results of such transactions in these accounts can be cancelled. All such accounts may and can be blocked, and funds contained therein will not be considered as financial obligation of the Company before the Client.
Indemnify and hold harmless of the Company due to any claims and/or legal actions regarding the Company as a result of disclosure of personal data of the Client.
The Client agrees to accept complete responsibility for his actions according to current tax legislation valid at the place of residence/living of the Client regarding any performed operations, including but not limited to revenue tax.
The Client shall guarantee to:
Comply with legal rules of the jurisdiction where the Client lives;
Be legally capable and a person of majority age;
That the Client is solely responsible for the technical deficiencies in Client’s connection to the trading platform, deficiencies in Client’s equipment used for receiving the services (including, but not limited to, personal computer, laptop, mobile phone etc.) and hold harmless and indemnifies the Company against any Client’s losses and damages derived from such deficiencies.
The Company shall be entitled to:
Modify the size of the value of the Company’s financial obligations to the Client with changes of the appropriate entry of the trade operations register in case of violation of one or several provisions of the Agreement herein by the Client;
Terminate the Client’s services at any given time at its own discretion with any reasonable grounds (preliminary notification of the Client regarding this shall not be obligatory);
Unilaterally in the extrajudicial procedure terminate the Agreement herein without reimbursement of any losses suffered by the Client. In such case the Company shall notify the Client within 3 (three) working days after such termination in any possible way;
The Company reserves the right to change, add or set as default the CFD payments rate, return rate, the possibility of adjustment the return rate, the possibility of acquiring the CFD position, the minimum and/or the maximum CFD amount for several or all of the of the assets. The company shall be entitled to limit the maximum amount of purchased CFD’s for 1 (one) minute, 1 (one) hour, 1 (one) calendar day;
Contact the Client with any question concerning the Agreement herein, including, in order to make sure that the Client’s intentions regarding his/her actions on the Account;
Modify, add, rename or leave unchanged any sections, paragraphs and sub-paragraphs of the Agreement herein without preliminary notification of the Client regarding such changes;
Modify the size of the value of the Company’s financial obligations to the Client, if fulfillment of Operations on the trading platform does not comply with the conditions of the Agreement herein;
Engage the third parties with contractual relations for Service provision in accordance with the Agreement herein;
Unilaterally terminate the Agreement herein with preliminary notification of the Client regarding such termination and fulfillment of financial obligations before the Client to the extent of the amount of free funds available at the Account;
Regarding any obligations and situations not covered by the Agreement provisions herein the Company has a right to act at its own discretion in accordance to business customs and existing practice.
Obligations of the Company:
In accordance to the Agreement provisions herein to provide Services on the Company’s Website;
In accordance to the Agreement provisions herein, in case no debt on the part of the Client exist, on the Client’s request to fulfill the Company’s financial obligations before the Client to the extent of the amount of free funds on the Account;
To fulfill the provisions of the Agreement herein.
Accepting provisions of the Agreement herein, the Client grants his/her consent to process the personal data provided by the Client, both without use of automatic controls, and with its use. Under the personal data for the purposes of this Agreement between the parties mean: Name, Surname and Patronymic, gender, address, phone number, e-mail, IP address of the Client and the information which concern the provision of services to the client (the trade story).
The Client shall be obliged to provide truthful, exact and complete information according to the personal data about the Client is requested by the Company.
The purpose of processing the personal data shall be the fulfillment of the regulating legislation requirements as well as the obligations before the Client and other subjects of the personal data within the fulfillment of the Agreement herein.
During processing of the personal data, the Company shall be entitled to collect, record, systematize, accumulate, store, adjust (update, change), extract, use, transfer (disseminate, provide, access), anonymized, block, delete, destroy and perform any other actions according to the current regulating legislation.
Storage and processing of the personal data of the Client can be fulfilled by the Company during the term and conditions of the Agreement, as well as within 5 years after termination of the Agreement herein.
The Client shall admit and confirm that in the case of which the need to provide the Personal data to fulfill the purposes of the Agreement herein to a third party as well as in case of engaging of any third parties to render services for the specified purposes, the Company shall be entitled to disclose the information about the Client in the necessary amount to fulfill the actions mentioned above, including the Personal data to such third parties, their authorized representatives as well as to provide documents for such persons which contain such information.
The Company shall not be entitled to include the Personal data of the Client in the public information sources except for cases which are provided by the regulating legislation.
During processing of the Personal data of the Client the Company shall take necessary legal, organizational and technical measures to protect the Personal data from unauthorized or accidental access, destruction, change, blocking, copying, provision, and dissemination as well as from other illegal actions regarding the Personal data of the Client.
The Client has read, understood and accepted the risk statement due to the use of the Service on the Website, which is published on the Website of the Company.
The Company shall be entitled to receive the fees from the Client regarding the Service(s) provided by the Company. Accepting the Agreement herein, the Client shall agree that he or she shall be obliged to compensate the fee to the Company for bank transfer in the amount not more than 25 EUR in case of bank transfer by the Company in favor of the Client (hereinafter referred to as the “Transfer fee”).
The Client shall authorize the Company to withdraw the fee for transfer from the Client’s Account. In case if none of the Operations (hereinafter referred to as “Inactive Account”) are fulfilled on the trading platform of the Company by the Client for 90 (ninety) calendar days in a row, the Company shall be entitled to apply the service fee for Inactive Account in the amount of 50 EUR to unused the balance of the Client’s account. Such annual fee shall be not more than the total balance of the Client’s Account.
The Client shall agree to make a deposit to his/her Account to use the Company Services or any other additional services ordered by the Client on the Website as well as all additional expenses (if necessary), including but not limited to any taxes, duties, etc. The Client shall be completely responsible for timely depositing of his/her Account. Provider of payment services shall ensure only fulfillment of payment in the amount defined by the Site and shall not be liable for payment of the above-mentioned additional amounts by the Website’s Client.
The payment is processed and cannot be returned after clicking the “Deposit” button. By clicking the “Deposit” button, the Client shall agree that he/she cannot return the payment or require its recall. Additionally, by accepting the terms of the rules and herein (and/or Rules and Conditions), the Client as the owner of the payment card confirms that he/she shall be entitled to use the Services offered on the Website.
In the case if the Client uses the Services of the Website, the Client shall confirm that he/she became of legal age or beyond, that is legally allowed in the residence/jurisdiction of the Client in order to use the Services provided by the Website. When starting to use the Services, the Client shall be legally liable for fulfillment of the legislation of any country where this Service is used and shall confirm that provider of payment services shall not be in any case liable for any such illegal or unauthorized violation. Agreeing to use the Website’s Services, the Client shall understand and accept that processing of any of the Client’s payment shall be fulfilled by the provider of payment services and no legal right exists for return of already purchased Services or other options of payment cancellation. In case the Client is willing to refuse from the use of the 1-Click service for the next purchase of the Service, the Client can refuse from 1-Click service using the Account on the Website.
The Provider of the payment services shall not be in any case liable for refuse/impossibility to process the data connected with payment card of the Client, or for refuse connected with failure to obtain permission from the issuing bank to process payment using the payment card of the Client. The Provider of payment services shall not be in any case liable for quality, amount, and price of any service, offered to the Client or purchased by the Client of the Website using the payment card of the Client. Paying for any Services of the Website the Client first of all shall be obliged to fulfill the rules of using the Website. We are asking to consider that only the Client as the owner of the payment card shall be liable for timely payment of any service ordered via the Website and for all additional expenses/fees connected with this payment. The Provider of the payment services shall only be the performer of the payment in the amount specified by the Website and shall not be in any case liable for any pricing, general prices and/or total sums.
In case of a situation connected with the Client’s dissent with the terms mentioned above and/or any other reasons, we are asking the Client to promptly refuse from making a payment and to directly address the administrator/support of the Website if necessary.
ANNEX 1 TO TERMS AND CONDITIONS
Processing of Client’s requests and orders has the following structure:
After any Client makes a request or an order, the request is tested for its correctness in the trading platform;
The trading platform sends the request or order to the server;
After the request or order is received by the server it is tested for correctness;
The server, after the processing of the order or the request, sends the results to the trading platform;
In case that the connection between the trading platform and the server is correct, the trading platform will receive the results of processing the Client’s request or order by the Company.
The time of the processing may vary and depends on the quality of the communication between the trading platform and the server of the Company, as well as on the market conditions. In normal market conditions the time of processing usually varies between 0-4 seconds. In market conditions that differ from the normal, the time of the Client’s request and order processing can be higher than that.
The server of the Company may refuse to the Client’s request in the following cases:
If the client sends the request before the first quote in the trading platform on the market opening;
If there is not enough funds on the Client’s account for opening a new position;
If the Client sends the request before the opening of the trading session;
When market conditions differ from the normal.
When using the trading platform it is allowed to use only one tab of the browser. In case of using several tabs of the browser the results of trades can be corrected and/or cancelled.
The client acknowledges that the only reliable source of quote flow information is the main server for Customer requests. The quotes on the trading platform cannot serve as a reliable source of information about the real quotes flow, as in the case of unstable connection between the trading platform and the server part of the quotes from the flow may not reach the trading platform.
The graphs displayed on the trading platform are indicative. Thus, the Company does not guarantee that the transaction will be made at the same prices specified on the graph in the trading platform at the time of submission of the other Customer transactions.
The price displayed on the trading platform is formed by the formula (Buy+Sell)
Non-market quote – the price on the trading platform which does not correspond to the price on the market at this moment of time (hereinafter referred to as the “Non-market price”).
In case the Company fulfilled the Client’s request for Non-market quote, the following shall be imposed on the Company’s duty:
In case of position closing – correction of the financial result between incorrect closing of the position and closing according to real market price corresponding to the closing moment of transaction according to Non-market price;
In case of position opening – the Company reserves the right to cancel the financial result regarding such position.
If the amount of available funds is sufficient to open a CFD position – the position will be opened.
If the size of the available funds is insufficient to open a CFD position – the position will not be opened.
The Client’s order to open a position is processed, and the position is opened only after the corresponding entry in the server log file. Each new position is assigned with a serial number.
Closing a trading position occurs at the current price of the trading server now of closing the trading operation.
OTC Asset or “Over the Counter” is an asset that traded out of the regular market (hereinafter referred to as the “Asset”).
The Asset’s price is formed from data of trading requests and orders of the Clients, received by the Company.
The Client acknowledges that by making trade requests and orders on such Assets, he/she understands the essence of working with such Assets and the pricing algorithm of those Assets.
The Client acknowledges that by making trade requests and orders on such Assets, he/she admits that the only reliable source of quoting information is the main server for the trade orders of the Clients.
If the Company discovers fraud schemes such as:
Fraud associated with credit card transactions and other ways to fill a balance that does not belong to the Client;
Fraud associated with the use of software for false trading results;
Fraud associated with errors and/or system failures for false trading results;
In case of reasonable suspicion of the Company regarding the fraud schemes, mentioned above, the Company shall be entitled to block the Client’s Account without any prior notice and without the possibility of further money withdrawal and/or entitled to unilaterally terminate the Agreement in the extrajudicial procedure.
7.1. All possible disputes arising between the parties to this Agreement shall be settled through correspondence and negotiation.
7.2. Appeals by the Client are considered official if they are directed to the Company at the email address [email protected] Appeals will not be deemed in writing if they are produced and sent via online communication programs such as Skype or other similar software.
7.3. Client’s requests should include the following information for consideration:
Date and time when the dispute occurred/arose;
A detailed description of the Client’s claim.
7.4. The Company may refuse to consider the Client’s claim if it does not meet the requirements listed in Sections 1.2 − 1.3, as well as the following conditions:
If the claim received by the Company includes language of an obscene nature and/or insults which are directed to the Company (including its employees);
If the received claim contains threats to the Company (including its employees);
If the Client expresses the threat of denigrating the business image of the Company by any means possible.
7.5. The Company is obliged to consider an appeal within 3 business days (after the Client has provided all the sufficient and necessary information and documents associated with the appeal/claim to address the issue in full).
7.6. In the event of a disputes arising concerning the Client’s trading transactions and account, review protocol for the Client’s trading transactions will be based on the Company’s own data.
7.7. If the Client violates any of the points above, the Company has the right to refuse the provision of further services.
7.8. If the Client and the Company do not reach an agreement through correspondence and negotiation within 2 months of the date which the dispute was opened, it shall be referred to court and will be resolved according to the current legislation of the Czech Republic Law.