Xbit AI Trader Terms and Conditions

Last updated: April 12, 2021

Article 1 (Application of these Terms and Conditions)

These Terms of Service (hereinafter referred to as the “Terms”) stipulate matters that must be observed by all registered users when using the Xbit AI Trader (hereinafter referred to as the “Service”) provided by Silver Capital Financial s.r.o (hereinafter referred to as the “Company”).
Anyone intending to use our services as a registered user is asked to ensure that these Terms are read in full prior to agreeing to their content.

Article 2 (Registration)

Persons who want to use the Services (hereinafter referred to as a “User”) shall apply to the Company to register to use the Services by first agreeing to these Terms and then providing the Company with the information specified by the Company (hereinafter referred to as “Registration Information”) using the method specified by the Company.
The User represents and warrants that he/she was not in the past, is not in the present, and will not in the future be any of the following:
(1)Anti-social forces (hereafter defined as criminal organizations, criminal organization members, semi-criminal organization members, companies related to criminal organizations, corporate extortionists, political racketeers, organized crime syndicates, and/or other similar entities).(2)Involved in anti-social forces in any manner including, but not limited to, cooperation or engagement in the maintenance, operation, and/or management of anti-social forces through funding or any other method.
In the event that an User is not permitted to register as a registered user, the Company is under no obligation to explain the reason to the User. Furthermore, the Company is under no obligation to return any documentation received from the User in this event.
The completion of the registration under Article 3.3 constitutes the execution of the Service Agreement between the User and the Company with respect to the use of the Service in accordance with the provisions of the Terms, whereby the User shall be entitled to use the Service in such a manner as specified by the Company from the date of the completion of the registration.
the Company may reject the User’s registration if:
(1) the Registration Information submitted to the Company contains, in whole or part, false or erroneous statements or omissions.

(2) the User is a minor, an adult ward, a person under curatorship or a person under assistance, and has not obtained the necessary consent of his/her respective legal representative, guardian, curator or assistant.

(3) the Company determines that the User is or was in the past 5 years a member of anti-social forces , or the Company determines that the User is or was in the past 5 years associated with or involved in anti-social forces in any manner such as cooperating or engaging in maintenance, operation, management of anti-social forces through funding or any other method.

(4) the User resides in a country or region where the Service is not being provided, or in the event that the User meets certain conditions outlined at the Company’s discretion.

(5) the Company otherwise determines that the registration would be inappropriate.

Persons who are prohibited from accessing websites operated by the Company (hereinafter referred as “Websites”) for any reason (for example, nationality or place of residence, etc) shall not access the Websites.
In order to use the Service, the User must login using the method prescribed by the Company.

Article 3 (Risks)

The price of crypto currencies fluctuates constantly. User’s crypto currency trade or balance could surge or drop suddenly. All investments involve risks, including possible loss of principal.
All profits and losses resulting from the investment shall belong to the beneficiary.

Article 4 (Deposits and Withdrawals)

Deposits and Withdrawals to and from the Service shall be performed by the method stipulated by the Company.
Reception hours for depositing and withdrawing shall be stipulated by the Company.
Fees for depositing and withdrawing shall be stipulated by the Company.

Article 5 (Order)

The usage period of the Service shall be stipulated by the Company.
The currency of transactions that customers can place trading orders using the Service shall be stipulated by the Company.
The number of times a transaction order executed on the same day shall be within the number of times stipulated separately by the Company.
Orders the User place with the Company using the Service shall be completed at the time the User enter his/her order on the website.
Notwithstanding the Article 5.4 , in the event that the Company is unable to operate the Service due to system failure or other reasons, the Company shall not accept orders other than those cases stipulated separately by the Company.
Trading fees shall be stipulated by the Company.

Article 6 (Money Management)

Deposits and Withdrawals to and from the Service shall only be in the currency stipulated by the Company.
Under no circumstances no interest shall be paid on deposit.
Upon request, money in custody shall be returned with the method stipulated by the Company.

Article 7 (Fees and other service charges)

When using the Service, the User shall pay in any of the following fees and other service charges.

wallett maintenance cost: free
Withdrawal fee

Article 8 (Prohibited Activities)

The User shall be prohibited from engaging in any of the following activities with respect to the use of the Service:

to take part in the unauthorized commercial use or reproduction of any and all intellectual property, copyrights, names and likenesses that the Company holds the rights to.
to perform any act which would infringe any privacy rights, credits, or other rights or interests of the Company, affiliated companies, others related to the Company, other users of the Service or other third parties (including any act which raises such infringement directly or indirectly).
to conduct criminal acts including, but not limited to, fraudulent activity, establishing or soliciting for pyramid schemes, purchases and/or sales of illegal goods and/or services, transferring profits gained from illegal acts or using the Service to perform these acts.
to perform an act associated with a criminal act, or an act against public order and good morals.
to perform any act which violates any law or regulation, or the internal rules of an entity of which the Company or the User is a member.
to transmit information containing computer viruses or other harmful computer programs or to destroy or obstruct the system, server, network, or other functions managed by the Company, or to perform any act that places an unnecessarily excessive burden on any of the aforementioned items.
to exploit errors, bugs, security loopholes, or other defects found in any of the systems, servers, or networks related to the Company or managed by the Company.
to modify information which can be used for the purpose of the Service.
to transmit through the Service data the volume of which is larger than the size of data specified by the Company.
to use API or other programs not offered by the Company to use the Service outside of the intentions of the Company’s system design, or have an influence on other systems of the Company or other Users.
to perform any act which is likely to interfere with the operation of the Service by the Company.
to deliberately steal the assets of Users, the Company, or affiliated companies, through replay attacks.
to disseminate rumors or non-factual information, or to commit an act of fraud, extortion or blackmail, that may defame the reputation of the Company.
to create multiple accounts by the same person (except as otherwise explicitly authorized by the Company in advance).
to engage in the sharing of an account with multiple persons, or to permit a third party other than the User to use the account (except as otherwise explicitly authorized by the Company in advance).
to open or attempt to open an account using a false name, another person’s name, or any name other than one’s own real name, trade under such circumstances, or provide partially or wholly false information as the account’s registered information.
to perform fraudulent acts by using means that can mislead others . A statement that inspires other people’s euphoria.
to use assault or intimidation.
to perform any other acts determined by the Company to be inappropriate.

Article 9 (Disclaimer)

The Company shall not be liable for the damage that fall under following items, unless otherwise the cause of the damage is attributable to gross negligence or willful misconduct.

Damage caused by failure or malfunction of User’s computer hardware or software, failure or malfunction of the Company’s computer system or software, failure or malfunction of the system online software provided by market participants or third parties etc. Damage caused by failure or malfunction of any computer hardware, software, system or online related to the transaction.
Damage caused by errors or delays in telegraph, Internet or mail (including Internet congestion).
Damage caused by the Company’s authentication and receipt of a transaction order by matching the User’s login ID and password, regardless of whether the User him/herself have entered it.
Damage caused by leakage or theft of User’s login ID, password or transaction information that is not caused by the Company’s gross negligence or willful misconduct.
Damage caused by the inability to verify the identity of the User due to the mismatched login ID and password entered by the User.
Damage caused by the inaccuracy of the information provided by the Service and not caused by the Company’s gross negligence or willful misconduct.
Damage caused by the event of a breach in any of the provisions in these Terms.
Damage caused by delays or inability to operate Services due to unexpected or specific events, including but not limited to changes in the balance of supply and demand, fluctuating prices of commodities, fiat currency, or other markets, natural disasters, wars, changes to laws, regulations, statutes, and governments.
Damage caused by termination of the provision of all or some of the Services depending on the Company’s circumstances.
Damage that are not attributable to the Company.

Article 10 (Closure)

In the event of the User fall under any of the following items, the Company shall reserve the right to permanently discontinue Xbit account(hereinafter referred to as the “Account”).

In the event the User requests the Company to close the account.
In the event of a breach in any of the provisions in these Terms.
In the event that suspension of the account continues for a certain period of time.
In the event that the Company judged that the risk of money laundering is high.
In the event the User leaks confidential information to a third party without obtaining the prior written consent of the other party.
In the event of discovering that the User or the User’s agent is a member of anti-social force.
In the event the User communicates with the Company or Company’s employees through means of telephone, fax, email, messenger or other communication tools in an overbearing manner, or uses direct violence, excessive slander, threats, or other conduct commonly held as inappropriate.
In the event of discovering that the User is relevant to PEPs(Politically Exposed Persons).
In the event that the Company determines it inappropriate to continue the registration of the User for some other reason.

Article11 (Personal Information)

The Company shall handle personal information in compliance with the Privacy Policy posted by the Company on the Websites.

Article12 (Applicable law)

These Terms shall be governed by and construed in accordance with the laws of Estonia.

Article13 (Notice)

Any inquiries with respect to the Service or other communications or notices from the User to the Company, or the notices concerning any amendment to the Terms or other communications or notices from the Company to the User shall be made in accordance with the procedures specified by the Company.
Pursuant to Article 13.1, when the Company sends reports to the User by email or publication on the Websites, the report is effective as of the time that the email was sent and/or published on the Websites. When the Company sends a notification by mail to the User’s home address or office, the notification is effective at the time that the mail was sent.
In the event that any notices do not reach the User or arrive late due to a change in the User’s address, absence, or any reason that is not attributed to the Company, the notices will be considered to have arrived at the originally anticipated time.

Article14 (Jurisdiction)

The district court having jurisdiction over the location of the head office of the Company shall be the agreed-upon court of jurisdiction in the first instance for all disputes caused by or relating to the User Agreement in the case that the User files litigation against the Company.

Article15 (Amendment and Changes to Terms)

These terms are subject to change due to changes in laws or regulations, orders from competent authority or transfer institution.
the Company shall notify the User of any amendments that limit the User’s existing rights or impose new obligations. In this case, if there is no objection by the specified date, the Company shall deem that the User has consented to the amendments.
The notice set forth in the Article 15.2 may be replaced by communication to the User by electromagnetic means.
The notice set forth in the Article 15.2 may be replaced by posting on the Websites, if the amendments is judged to be insignificant.

Article 16 (Foreign Account Tax Compliance Act; FATCA)

The User shall agree that information on the User (name/title, address/location, U.S. taxpayer ID number, account number, account balance, amount of the income generated in the account, and other information specified by the U.S. taxing authority) may be submitted to the U.S. taxing authority for its execution of taxation if it is determined by the Company that any one of the following paragraphs is or may be relevant to the User as a subject of reporting under the Foreign Account Tax Compliance Act (hereafter the “FATCA”) upon request by the U.S. or Japanese governments.

Natural person, corporation, or other organizations responsible for tax payment in the U.S.
Non-U.S. corporation or other organizations substantially controlled by a natural person responsible for tax payment in the U.S.
Financial institution not participating in the framework of FATCA (except people considered as inapplicable beneficiaries for the purpose of application of the U.S. Internal Revenue Code Articles 1471 and 1472).