PLEASE READ THIS CAREFULLY – IT
CONSTITUTES A LEGAL AGREEMENT BETWEEN YOU AND First-trade AND GOVERNS ALL ASPECTS OF THE RELATIONSHIP BETWEEN
YOU AND First-trade. This is a User Agreement between you (also referred to herein as “User,” or
“Customer”) and First-trade TEAM. This User Agreement (“Agreement” or “User Agreement”) governs your use of the
services provided by First-trade described below and such other services that may be offered by First-trade from time
to time (“Services”). By signing up to use a First-trade account or service through First-trade.com, First-trade’s APIs,
the First-trade mobile application, or any other First-trade website (collectively the “First-trade Site”), you agree that
you have read, understand, and accept all of the terms and conditions contained in this Agreement including
our Privacy Policy. If you do not agree to any part of the Agreement, you may not use the Services (as defined
below).
Through your First-trade account (“First-trade Account”) and the First-trade Site you are
able to buy and sell cryptocurrency and have access to trading algorithms, in addition to certain other
services that may be provided by First-trade from time to time, including, among other things, Rewards Program (as
defined below), third-party account management tools, general news and information, trading alerts, market
data including price and analytics, and educational information (collectively, the “Services”). Some of the
Services may be restricted in your jurisdiction depending on local laws and regulations. When using the
Services to buy or sell cryptocurrency through your First-trade Account, you are directly buying from, and
directly selling to, First-trade. First-trade does not offer exchange or clearance services. First-trade and its
affiliates may transact through their own accounts through the Services, for purposes including, but not
limited to, treasury management and to effect purchases and sales of cryptocurrency by First-trade and its
affiliates. First-trade may, in our absolute and sole discretion, with or without prior notice and at any time,
modify or discontinue, temporarily or permanently, any portion of the Services.
You must be 18 years old to use the First-trade Site or the Services and represent
that you are of such age in doing so. If you are using the Services on behalf of a legal entity, you further
represent and warrant that the legal entity is duly organized and validly existing under the applicable laws
of the jurisdiction of its organization, and you are duly authorized by such legal entity to act on its
behalf. Furthermore, you represent and warrant that you meet the following requirements: (i) you have not
previously been suspended or removed from using our Services; (ii) you have full power and authority to enter
into this Agreement and in doing so will not violate any other agreement to which it is a party; (iii) you are
not located in, under the control of, or a national of any restricted location or any country to which the
United States or the British Virgin Islands have embargoed goods or services; (iv) neither you nor any
authorized person on your First-trade Account has been identified as a “Specially Designated National” by OFAC;
(v) no one employed by you or who is an investor or principal has been placed on the U.S. Commerce
Department’s Denied Persons List; and (vi) you will not use our Services if any applicable laws in the country
of its incorporation or operation prohibits you from doing so in accordance with this Agreement. First-trade may
not make all the Services available in all markets and jurisdictions and may restrict or prohibit use of all
or a portion of the Services from certain countries, states, territories, or jurisdictions.
3.1 AVAILABLE JURISDICTIONS
The Customer further
understands that if the Customer attempts to access the Account from a jurisdiction subject to certain U.S.
sanctions or if the Customer is ordinarily resident in such a jurisdiction, or if First-trade reasonably believes
that the Customer is attempting such access or has become a resident in such a jurisdiction, First-trade may
restrict the Account, and any pending orders may be canceled. If this happens, the Customer understands that
the Customer should contact Admin@First-trade.ltd, and that the Customer may be asked to provide supplemental
information as part of this process. The Customer further understands that the Customer must close all
Accounts before establishing residency in any jurisdiction subject to U.S. sanctions.
3.2
KYC
In order to use certain features of the Services and to help governments fight the
funding of terrorism and money laundering activities, you may be required to provide First-trade with certain
personal information, including, but not limited to, your name, address, telephone number, e-mail address,
date of birth, taxpayer identification number, government identification number, and information regarding
your bank account (e.g., financial institution, account type, routing number, and account number). In
submitting this or any other personal information as may be required, you verify that the information is
accurate and authentic, and you agree to update First-trade if any information changes. You hereby authorize
First-trade to, directly or through third-parties, make any inquiries we consider necessary to verify your
identity and/or protect against fraud, including to query identity information contained in public reports
(e.g., your email address, phone number, name, address, past addresses, or date of birth), to query account
information associated with your linked bank account (e.g., name or account balance), and to take action we
reasonably deem necessary based on the results of such inquiries and reports. You further authorize any and
all third parties to which such inquiries or requests may be directed to fully respond to such inquiries or
requests. If applicable, you further authorize your wireless operator to disclose your mobile number, name,
address, email, network status, customer type, customer role, billing type, mobile device identifiers (IMSI
and IMEI) and other subscriber details, if available, to us and service providers for the duration of the
business relationship, for identity verification and fraud avoidance. See our Privacy Policy for how we treat
your data.
3.3 ACCOUNT FUNDING
First-trade only allows cryptocurrency deposits
at this time to conduct cryptocurrency trades outlined in the ‘TRADING’ section below. When Customer initiates
a cryptocurrency deposit (a “Cryptocurrency Deposit”) into the Customer’s Account, Customer is solely
responsible for executing the Cryptocurrency Deposit properly and accurately. First-trade is not responsible for
any Cryptocurrency until such time as such Cryptocurrency is successfully deposited into the relevant wallet
address provided by First-trade to Customer as evidenced by such deposit appearing on the relevant block explorer
for such deposit. First-trade is not responsible for any delays, losses or fees in connection with a
Cryptocurrency Deposit and is not obligated to assist or support Customer in any fashion with respect to an
unsuccessful Cryptocurrency Deposit or with respect to any issues that Customer may experience at a point in
time prior to the successful completion of a Cryptocurrency Deposit; provided, however, that First-trade may, in
its sole discretion, provide reasonable assistance to Customer in the event that a Customer requests
assistance in connection with an attempted, failed, erroneous, or otherwise incomplete Cryptocurrency Deposit,
including but not limited to, those deposits sent by Customer to a Cryptocurrency wallet designated by First-trade
for a different type of Cryptocurrency than the Cryptocurrency being sent by Customer, whether or not such
deposit is evidenced on the blockchain. First-trade does not guarantee that any such assistance will result in the
successful completion or remediation of a Cryptocurrency Deposit or the recovery of any Cryptocurrency.
Customer understands that a Cryptocurrency Deposit cannot be reversed once properly initiated.Customer
authorizes and instructs First-trade to hold Customer’s Cryptocurrency (whether purchased on the Platform or
deposited by Customer into the Account pursuant to the Cryptocurrency Deposit mechanics outlined above) on its
behalf. Customer understands that First-trade may hold Customer’s Cryptocurrency together with the Cryptocurrency
of other First-trade customers in omnibus accounts or wallets. In addition, Customer understands and authorizes
First-trade to delegate some or all custody functions to one or more Affiliates or third parties (which may
include, but not be limited to exchanges and custodians) at First-trade’s discretion (each a “Custodian”). Some or
all custody functions provided by a Custodian may be performed, supported, or conducted in foreign
jurisdictions, or conducted by Custodians domiciled, registered, or subject to the laws and regulations of
foreign jurisdictions. First-trade will exercise reasonable skill and care in the selection, appointment, and
periodic review of any such Custodian. First-trade will maintain true, complete and accurate records relating to
Customer Cryptocurrency. Customer and First-trade understand that the legal treatment of Cryptocurrency is
unsettled and disparate across different jurisdictions.
3.4 PRIVACY AND INFORMATION
STORAGE
You consent to us accessing, processing and retaining any personal information you
provide to us for the purpose of us providing First-trade Services to you. This consent is not related to, and
does not affect, any rights or obligations we or you have in accordance with data protection laws, privacy
laws and regulations. You can withdraw your consent at any time by closing your account with us. However, we
may retain and continue to process your personal information if we reasonably believe it is necessary in order
to comply with laws or regulations. In providing us with this or any other information that may be required,
you confirm that the information is accurate and authentic. You agree to keep us updated if any of the
information you provide changes.
You authorize us to make inquiries, whether directly or through third
parties, that we consider necessary to verify your identity or protect you and/or us against fraud or other
financial crime, and to take action we reasonably deem necessary based on the results of such inquiries. When
we carry out these inquiries, you acknowledge and agree that your personal information may be disclosed to
credit reference and fraud prevention or financial crime agencies and that these agencies may respond to our
inquiries in full. This is an identity check only and should have no adverse effect on your credit rating. We
reserve the right at all times to monitor, review, retain and/or disclose any information as necessary to
satisfy any applicable law, regulation, sanctions programs, legal process or governmental request. Further,
you authorize your wireless operator (e.g., AT&T, T-Mobile, US Cellular, Verizon, or any other branded
wireless operator) to use your mobile number, name, address, email, network status, customer type, customer
role, billing type, mobile device identifiers (IMSI and IMEI) and other subscriber status details, if
available, solely to allow verification of your identity and to compare information you have provided to
First-trade with your wireless operator account profile information for as long as you have a First-trade Account.
See our Privacy Policy and Cookie Policy for more information on how we process your personal data
and the rights you have in respect of this.
Through your First-trade account (“First-trade Account”) and the First-trade Site you are able to buy and sell cryptocurrency and have access to trading algorithms, in addition to certain other services that may be provided by First-trade from time to time, including, among other things, Rewards Program (as defined below), third-party account management tools, general news and information, trading alerts, market data including price and analytics, and educational information (collectively, the “Services”). Some of the Services may be restricted in your jurisdiction depending on local laws and regulations. When using the Services to buy or sell cryptocurrency through your First-trade Account, you are directly buying from, and directly selling to, First-trade. First-trade does not offer exchange or clearance services. First-trade and its affiliates may transact through their own accounts through the Services, for purposes including, but not limited to, treasury management and to effect purchases and sales of cryptocurrency by First-trade and its affiliates. First-trade may, in our absolute and sole discretion, with or without prior notice and at any time, modify or discontinue, temporarily or permanently, any portion of the Services.
Through your First-trade account (“First-trade Account”) and the First-trade Site you are
able to buy and sell cryptocurrency and have access to trading algorithms, in addition to certain other
services that may be provided by First-trade from time to time, including, among other things, Rewards Program (as
defined below), third-party account management tools, general news and information, trading alerts, market
data including price and analytics, and educational information (collectively, the “Services”). Some of the
Services may be restricted in your jurisdiction depending on local laws and regulations. When using the
Services to buy or sell cryptocurrency through your First-trade Account, you are directly buying from, and
directly selling to, First-trade. First-trade does not offer exchange or clearance services. First-trade and its
affiliates may transact through their own accounts through the Services, for purposes including, but not
limited to, treasury management and to effect purchases and sales of cryptocurrency by First-trade and its
affiliates. First-trade may, in our absolute and sole discretion, with or without prior notice and at any time,
modify or discontinue, temporarily or permanently, any portion of the Services.Customer may elect to
participate in the First-trade Rewards Program (the “Rewards Program”), which provides rewards for what is
commonly known as “staking”, which allows Customer to earn additional Cryptocurrency of the same kind of
Cryptocurrency held in Customer’s Account, or earn QUADs by contributing to the First-trade ecosystem
(collectively, the “Rewards”). The terms and conditions governing the Rewards Program are as
follows:
1. Each Customer participating in the Rewards Program agrees to allow First-trade to
rehypothecate the Customer’s Cryptocurrency held in such Customer Account to the extent that Customer wishes
to stake their Cryptocurrency. Such consent to rehypothecate expressly includes allowing First-trade to (1) stake
Cryptocurrency held in an omnibus fashion through various blockchain protocols; and (2) lend such
Cryptocurrency to various institutional third parties (each, a “Borrower”) determined at First-trade’s sole
discretion (each, a “Loan”). First-trade enters into these Loans as principal and independently negotiates with
each Borrower the terms of a Loan, but these Loans are generally unsecured, for a fixed term of less than one
year or can be repaid on a demand basis, and provide a fee payable in Cryptocurrency based on the percentage
and denominated in the Cryptocurrency lent. First-trade selects which Cryptocurrencies are available for such
staking and lending at its sole discretion, subject to limitations on amounts allowable and additional terms
and conditions.
2. First-trade will typically publish anticipated reward rates once per month on or
before the first business day of each month. Reward rates may be tiered, with specified rates in effect at any
time only applied to specified portions of amounts of Cryptocurrency held in the Account. Rewards will be
payable in arrears and added to the Account on or before the fifth business day of each calendar month for the
prior calendar month. First-trade uses the daily balance method to calculate the Rewards on the Account. This
method applies a daily periodic rate to the specified principal in the Account each day. The daily periodic
rate is calculated by dividing the applicable interest rate by three hundred sixty-five (365) days, even in
leap years. First-trade will determine the Reward rates and tiers for each month in First-trade’s sole discretion, and
Customer acknowledges that such Rewards may not be equivalent to benchmark interest rates observed in the
market for bank deposit accounts.
3. Customers may also earn QUADs by contributing to the First-trade
ecosystem, which may include publishing trading algorithms for other Customers to utilize on the Platform,
participating in polls, referring other users to the Platform, or participating in other promotional events
that First-trade may hold from time to time. A schedule and rewards earning structure will be published on the
First-trade Site to inform Customer of what may be earned at any given time by contributing to the
ecosystem.
4. Rewards will be credited to the Account within five (5) business days following the
end of each calendar month. The Account must be open on such date in order to receive this payment of Rewards.
All Rewards will be paid in Cryptocurrency. Once Rewards have been credited to the Account, Customer may earn
Rewards on such Cryptocurrency in future months. Rewards will be paid in kind (i.e., in the type of
Cryptocurrency that is held in the Account).
5. Customer may request a Withdrawal at any time,
consistent with the mechanics outlined in Section 6 below. However, for Customers in the Rewards Program,
Withdrawals may be delayed, or in some instances subject to partial completion. Customer understands and
acknowledges that Customer may only be able to earn Rewards to the extent that Customer satisfies certain
minimum Cryptocurrency balance requirements (“Minimum Balance”). First-trade will publish Minimum Balance details
on the Platform. Minimum Balance details are subject to change at any time. If a Withdrawal results in a
particular Cryptocurrency balance in Customer’s Account falling below a Minimum Balance, then Customer will
not earn Rewards with respect to such Cryptocurrency.
6. REWARDS PROGRAM RISKS. Participating in
the Rewards Program may put Customer’s Cryptocurrency at risk as loans made by First-trade may not be secured.
Customer may opt-out of the Rewards Program at any time by doing so on the First-trade site.
Customer may arrange to withdraw and transfer Cryptocurrency in the Account to
an external wallet (such process, a “Withdrawal”). First-trade will effectuate a Withdrawal based upon Customer’s
written instructions; provided that Customer understands and agrees that First-trade may, in its sole discretion,
delay, modify or prohibit, in whole or in part, any requested Withdrawal, including in instances where: (a)
First-trade believes such action is prudent in order to satisfy First-trade’s anti-money laundering obligations, (b)
First-trade suspects that the Customer, the wallet address, or the Withdrawal itself are connected to, associated
with, or being used in furtherance of potential fraud, (c) Customer is in violation of the Customer Agreement,
(d) the Withdrawal is being attempted within sixty (60) days of a deposit of Cryptocurrency into the Account,
or (e) outstanding fees are associated with the Account or the Account would, after the Withdrawal, have an
insufficient balance to cover actual or anticipated fees. Customer understands that, once initiated on the
network associated with the Cryptocurrency subject to the Withdrawal, a Withdrawal will typically be processed
at the speed of such network, but that in certain situations, a Withdrawal may be delayed in connection with
any latency, congestion, disruption, or other delay of such network. Customer understands that First-trade cannot
reverse a Withdrawal that has been broadcast to a Cryptocurrency network. Customer also understands that
First-trade reserves the right to cancel any pending Withdrawal as required by law or in response to a subpoena,
court order, or other binding government order.
Customer understands that they are exclusively
responsible for ensuring that a Withdrawal is being made to the correct or intended wallet address.
Withdrawals cannot be reversed once broadcast to the relevant Cryptocurrency network. First-trade will not be
liable for any loss that results from inaccurate, incomplete, or misleading details that Customer may provide
in connection with a Withdrawal. First-trade will not bear any liability for any failure, error or delay in
processing a Withdrawal. First-trade may, in its sole discretion, provide reasonable assistance to Customer in the
event that a Customer requests reasonable assistance in connection with an attempted, failed, or otherwise
erroneous Withdrawal. First-trade does not guarantee that any such assistance will result in the successful
completion or remediation of a Withdrawal or the recovery of any Cryptocurrency. First-trade may charge fees in
connection with any such assistance. Customer understands that a Withdrawal cannot be reversed once properly
initiated.
You acknowledge that there are risks associated with using the Services and the
First-trade Site, including but not limited to risk that the underlying protocols of supported networks undergo
material changes to their operating rules, risk of failure of hardware, software and Internet connections, the
risk of malicious software introduction, and the risk that third-parties may obtain unauthorized access to
information stored within your First-trade Account. As such, First-trade will not be responsible or liable to you for
any such related losses and takes no responsibility for use of the Services that involves user error such as
forgotten passwords, incorrectly construed transactions, or mistyped wallet addresses; server failure or data
loss; corrupt files; unauthorized access, or; any unauthorized third-party activities, including without
limitation the use or introduction of computer viruses, or other malware, phishing, spoofing or other means of
attack against you or the First-trade Site or Services. You further accept and acknowledge that First-trade will not
be responsible for any communication failures, disruptions, errors, distortions or delays you may experience
when using the First-trade Site or the Services, regardless of the cause. Cryptocurrency is not covered by any
insurance, including insurance offered by the Federal Deposit Insurance Corporation (FDIC). You agree and
understand that the underlying protocols of supported cryptocurrency networks are subject to changes in
operating rules or other valid operational protocol (a so-called “Fork”) that may result in more than one
version (each, a “Forked Network”) and First-trade holding an identical amount of cryptocurrency associated with
each Forked Network. You further agree and understand that Forks may materially affect the value, function,
and/or name of the cryptocurrency you may have with First-trade. In the event of a Fork, you agree and understand
that First-trade may temporarily suspend our operations (with or without advance notice to you) while we choose,
in our sole and absolute discretion, which Forked Networks to support. You agree and understand that in our
best estimation we are unlikely to support most Forked Networks and that the cryptocurrency of most Forked
Networks will likely not be made available to you. First-trade makes no guarantees or recommendations of any kind,
nor does it purport to offer any investment advice of any kind. The risk of complete loss in trading or
holding any type of cryptocurrency can be substantial and is likely. You are solely responsible for evaluating
the merits and risks associated with the use of the First-trade Site and the Services and should take into
consideration your particular financial situation in determining whether using the Services or trading
cryptocurrencies is suitable for you. You hereby represent that your First-trade Account is completely
discretionary in nature, and is not being used primarily for personal, family, or household
purposes.
In the event that a Cryptocurrency network attempts to or does contribute (an “Airdrop”)
Cryptocurrency (“Airdropped Cryptocurrency”) or any other similar event to a Cryptocurrency network, then
First-trade may, in its sole discretion, take steps that it determines necessary to manage the Services, including
how and whether to incorporate Airdropped Cryptocurrency, distribute it to Customer or do nothing, or such
other action or inaction that First-trade deems appropriate in its sole discretion. Customer understands and
accepts the risks of Airdrops and other similar events to a Cryptocurrency available through the Services, and
understands and agrees that ownership of a Cryptocurrency in the First-trade App for which an Airdrop is occurring
on the date of such Airdrop does not in and of itself grant entitlement to or ownership of the Airdropped
Cryptocurrency. Customer agrees that First-trade is not responsible for any loss of value that Customer may
experience as a result, whether directly or indirectly, from any such Airdrop or similar event. Customer
further acknowledges and accepts that First-trade has no obligation or responsibility to assist Customer with
respect to any Cryptocurrency that First-trade determines not to support whether or not First-trade receives an
Airdropped Cryptocurrency by virtue of its holding omnibus custody of the Cryptocurrency related to such
airdrop. To the extent that First-trade is aware of the Airdrop, First-trade will use its reasonable efforts to
provide notice to Customer of its response to any Airdrop. First-trade may, in its sole discretion, elect to: (1)
subject to potential fees, support the Airdropped Cryptocurrency and update the Account as appropriate, (2)
abandon or otherwise not pursue obtaining the Airdropped Cryptocurrency from the relevant network, (3)
liquidate the Airdropped Cryptocurrency and distribute the proceeds to Customer or hold the funds in Customers
Account for the benefit of Customer, (4) deliver the Airdropped Cryptocurrency to Customer within a time
period as determined by First-trade in its sole discretion, together with any credentials, keys, or other
information sufficient to gain control over such Airdropped Cryptocurrency (subject to the withholding and
retention by First-trade of any amount reasonably necessary, as determined by First-trade in its sole discretion, to
fairly compensate First-trade for the efforts expended to obtain and deliver such Airdropped Cryptocurrency to
Customer), or (5) determine, in its sole discretion, that the Airdrop, although received by First-trade, does not
have sufficient market support or sufficient value to warrant First-trade incorporating the Airdropped
Cryptocurrency into the Platform in any way or distribute the Airdropped Cryptocurrency to its
users.
No Investment Advice or Brokerage: For the avoidance of doubt, First-trade does not provide
investment, tax, or legal advice, and you are solely responsible for determining whether any investment,
investment strategy or related transaction is appropriate for you based on your personal investment
objectives, financial circumstances and risk tolerance. First-trade may provide educational information about
Supported Digital Assets, as well as digital assets not supported by First-trade, in order to assist users in
learning more about such digital asset. Information may include, but is not limited to, blog posts, articles,
links to third-party content, news feeds, tutorials, and videos. The information provided on the First-trade Site
or any such third-party sites does not constitute investment advice, financial advice, trading advice, or any
other sort of advice, and you should not treat any of the website’s content as such. First-trade does not
recommend that any Digital Asset should be bought, earned, sold, or held by you. First-trade will not be held
responsible for the decisions you make to buy, sell, or hold Digital Assets based on the information provided
by First-trade. First-trade does not broker trades on your behalf unless otherwise specified on a specific product.
All First-trade trades are executed automatically, based on the parameters of your order instructions and in
accordance with posted trade execution procedures
First-trade is not registered with the U.S.
Securities and Exchange Commission and does not offer securities services in the United States or to U.S.
persons. You acknowledge that Digital Assets are not subject to protections or insurance provided by the
Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation.
You agree and acknowledge that that you will not use the First-trade Site or the
Services in connection with any unlawful or otherwise undesirable activity (as determined by First-trade in its
absolute and sole discretion), including, but not limited to dealing in regulated products or services,
pseudo-pharmaceuticals, adult content and services, unfair/predatory practices, counterfeit goods, gambling,
suspected money laundering, or drug activity. In addition, you represent that your First-trade Account will not be
used to circumvent, disable, or otherwise interfere with security-related features of the First-trade Site,
including features that prevent or restrict the use or copying of any Content or enforce limitations on the
use of the Site and/or the Content contained therein or engage activity which would violate, or assist in
violation of, any law, statute, ordinance, regulation, or sanctions programs administered in the countries
where First-trade conducts business, including but not limited to the U.S. Department of Treasury’s Office of
Foreign Assets Control (“OFAC”), or which would involve proceeds of any unlawful activity; publishing,
distributing or disseminating any unlawful material or information. Other prohibited activities include using
the First-trade Site to advertise or offer to sell goods and services; making any unauthorized use of the First-trade
Site, including collecting usernames and/or email addresses of users by electronic or other means for the
purpose of sending unsolicited email, or creating user accounts by automated means or under false pretenses;
interfere with, disrupt, or create an undue burden on the First-trade Site or the networks or services connected
to the Site; sell or otherwise transfer your profile; use any information obtained from the First-trade Site in
order to harass, abuse, or harm another person; decipher, decompile, disassemble, or reverse engineer any of
the software comprising or in any way making up a part of the First-trade Site; attempt to bypass any measures of
the First-trade Site designed to prevent or restrict access to the First-trade Site, or any portion of the First-trade
Site; harass, annoy, intimidate, or threaten any of our employees or agents engaged in providing any portion
of the Services to you; copy or adapt the First-trade Site’s software, including but not limited to Flash, PHP,
HTML, JavaScript, or other code; upload or transmit (or attempt to upload or transmit) viruses, Trojan horses,
or other material, including excessive use of capital letters and spamming (continuous posting of repetitive
text), that interferes with any party’s uninterrupted use and enjoyment of the Site or modifies, impairs,
disrupts, alters, or interferes with the use, features, functions, operation, or maintenance of the Site; use
First-trade Account information of another party to access or use the First-trade Site, except in the case of specific
merchants and/or applications which are specifically authorized by a user to access such user’s First-trade
Account and information; or transfer your account access or rights to your account to a third party, unless by
operation of law or with the express permission of First-trade.
We grant you a limited, nonexclusive, nontransferable license, subject to the
terms of this Agreement, to access and use the First-trade Site and limited and related websites, content,
materials, and information (collectively, the “Content”) solely for approved purposes as permitted by First-trade
from time to time. Any other use of the First-trade Site is expressly prohibited and all other right, title, and
interest in the First-trade Site is exclusively the property of First-trade and its licensors. You agree you will not
copy, transmit, distribute, sell, license, reverse engineer, modify, publish, or participate in the transfer
or sale of, create derivative works from, or in any other way exploit any of the First-trade Site or its related
content, in whole or in part. “First-trade” and “First-trade.com” and all logos related to the Services or displayed
on the First-trade Site are either trademarks or registered marks of First-trade or its licensors. You may not copy,
imitate or use them without our prior written consent.
You acknowledge that the username or identification numbers used to access your
First-trade Account are unique and that you alone have assigned a unique password to such username or
identification number. The password you have created to access your First-trade Account is strictly confidential
and should only be known to you. You must not share or disclose the password to anyone, and assure the
confidentiality of your password at all times. You are responsible for protecting your First-trade Account and
maintaining adequate security and control of all IDs, passwords, hints, personal identification numbers
(PINs), API keys, or any other codes that are used to access the Services and will not share First-trade Account
credentials with third-parties. Any loss or compromise of the foregoing information or any personal
information may result in unauthorized access to your First-trade Account, and any associated external accounts,
by third parties and the loss or theft of assets. You are responsible for providing accurate and complete
First-trade Account information and for keeping email addresses and telephone numbers up to date in your First-trade
Account profile to receive any notices or alerts that First-trade may send Client. First-trade assumes no
responsibility for any loss that Client may sustain due to compromise of First-trade Account credentials due to no
fault of First-trade or failure to follow or act on any notices or alerts that First-trade may send to you. In the
event you believe your First-trade Account information has been compromised, contact First-trade customer support
immediately at Admin@First-trade.ltd.
If you grant permission to an additional user, agent, representative, service
provider or any other authorized third-party to access or connect to your First-trade Account, either through the
third-party’s product or service or through the Services, you are fully responsible for all acts or omissions
of that agent or third-party with respect to your First-trade Account, including all transactions, deposits,
withdrawals, or other activities. You acknowledge and agree that you will not hold First-trade responsible for,
and will indemnify First-trade from, any liability arising out of or related to any act or omission of any agent
or third-party with access to your First-trade Account. You may change or remove agent or third-party First-trade
Account permissions by contacting customer support at Admin@First-trade.ltd.
You hereby grant First-trade a royalty-free, fully paid-up, sublicensable,
transferable, perpetual, irrevocable, non-exclusive, worldwide license to use, copy, modify, create derivative
works of, display, perform, publish and distribute, in any form, medium or manner, any text, information,
data, materials, images, or other content you provide to First-trade using the services that is not your personal
data (the “Client Content”). You represent and warrant that (i) you own the Client Content or have the right
to grant the rights and licenses in this Agreement, and (ii) the Client Content and use by First-trade of the
Client Content as licensed herein does not and will not violate, misappropriate or infringe on the rights of
any third-party. First-trade may remove any Client Content from the First-trade Site for any reason at First-trade’s
discretion.
Customer represents, warrants, and/or acknowledges, as applicable, as of the
date of this Customer Agreement, and on each date that the Customer utilizes the Services:
1.
Customer understands and acknowledges that their Account is self-directed, and that Customer is solely
responsible for any and all orders placed in the Account. Customer understands that Customer is fully
responsible for safeguarding Customer’s login credentials and that Customer is responsible for any trade
placed through, originating from, or associated with the Account whether placed by Customer or another
third-party as a result of Customer’s failure to safeguard the login credentials. Customer represents that all
orders entered by Customer through the Account are unsolicited and based upon Customer’s decisions.
2.
Customer understands that First-trade, together with its affiliates, does not provide recommendations or any
investment advice. Customer represents that Customer has not received any investment advice from First-trade, or
its affiliates, and does not expect to receive any investment advice from First-trade or any of its affiliates.
Customer understands and agrees that under no circumstances will Customer’s use of the Platform or Account be
deemed to create a relationship that includes the provision of or tendering of investment advice.
3. To
the extent that research materials or similar information is made available through the Platform, the Customer
understands that these materials are intended for information and educational purposes only and they do not
constitute a recommendation to enter into any transactions or to engage in any investment strategies.
4.
Customer represents and warrants to First-trade that Customer is not: (a) located in, under the control of, or a
national or resident of any country to which the United States has embargoed goods or services, (b) identified
as a “Specially Designated National,” (c) placed on the Commerce Department’s Denied Persons List, and (d) a
person who is subject to any law, regulation, or list of any government authority (including, without
limitation, the U.S. Office of Foreign Asset Control list) that would prohibit or limit First-trade’s ability to
conduct business with Customer. Customer further represents and warrants that Customer will not use the
Platform if the laws of Customer’s country or jurisdiction prohibit Customer from doing so in accordance with
this Agreement.
5. Customer: (i) certifies that the information contained in this Agreement, the Account
application, and any other document that Customer furnishes to First-trade in connection with the Account is
complete, true, and correct; (ii) authorizes First-trade to contact any individual or firm noted on documents
provided to First-trade; (iii) authorizes anyone so contacted to furnish such information to First-trade as First-trade
may request; and (iv) agrees that this Customer Agreement, the Account application, and any other document
Customer furnishes in connection with the Account is First-trade’s property. Customer shall promptly advise
First-trade of any changes to the information in such agreements and documents in writing within ten (10) calendar
days. First-trade may retain this Customer Agreement, the Account application, and all other such documents and
their respective records at First-trade’s sole discretion. Customer understands that First-trade may take steps to
verify the accuracy of the information Customer provides to First-trade in the First-trade Account application or
otherwise, including by directly or indirectly making any inquiries First-trade considers necessary to verify
Customer identity or protect against fraud and that First-trade may restrict Customer access to the Account or
take other action First-trade reasonably deems necessary pending such verification.
6. The Customer
understands that all investments involve risk, that losses may exceed the principal invested, and that the
past performance of a Cryptocurrency, industry, sector, market, or financial product does not guarantee future
results or returns. Customer further understands that there are risks associated with utilizing an
internet-based trading system including, without limitation, the failure of hardware, software and Internet
connections as well as the risk of malicious software introductions.
7. Customer understands that the
Service is not provided to, and may not be used by, any person in any jurisdiction where the provision or use
thereof would be contrary to applicable laws and regulations. First-trade is not available in all jurisdictions.
Customer agrees to refrain from using the Service if Customer begins to reside in a jurisdiction where the
Service would violate any of the laws and regulations of such jurisdiction. Customer will not provide
incorrect information about Customer’s address, residency or domicile and will immediately inform First-trade if
there is any change to previously provided information.
8. Customer understands that neither the Customer
Agreement or any other document or communication received from First-trade shall be construed as providing any
legal, accounting, estate, actuary, or tax advice. Customer agrees to review publicly available information
regarding the Customer’s positions in the Account, Account statements and Trade Confirmations. Customer must
rely upon its own representatives, including its own legal counsel and accountant, as to legal, tax and
related matters concerning any of Customer’s activities with respect to the Account, including any assets or
transactions in the Account and for preparation of any legal, accounting or tax documents.
IN NO EVENT SHALL First-trade, ITS AFFILIATES AND SERVICE PROVIDERS, OR ANY OF THEIR
RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES OR REPRESENTATIVES, BE LIABLE FOR LOST
PROFITS OR ANY SPECIAL, INCIDENTAL, INTANGIBLE, OR CONSEQUENTIAL DAMAGES, WHETHER BASED IN CONTRACT, TORT,
NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, ARISING OUT OF OR IN CONNECTION WITH ANY USE OF THE First-trade SITE
OR THE SERVICES, OR THIS AGREEMENT. THE SERVICES ARE PROVIDED “AS IS” AND “AS AVAILABLE” BASIS WITHOUT ANY
REPRESENTATION OR WARRANTY, WHETHER EXPRESS, IMPLIED OR STATUTORY. First-trade SPECIFICALLY DISCLAIMS ANY IMPLIED
WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND/OR NON-INFRINGEMENT. First-trade DOES
NOT MAKE ANY REPRESENTATIONS OR WARRANTIES THAT ACCESS TO THE First-trade SITE, ANY PART OF THE First-trade SERVICES,
OR ANY OF THE MATERIALS CONTAINED THEREIN, WILL BE CONTINUOUS, UNINTERRUPTED, TIMELY, OR ERROR-FREE. First-trade
makes no representations about the accuracy or completeness of any data, including historical price data,
available on the First-trade Site. First-trade will make commercially reasonable efforts to ensure that requests for
electronic debits and credits are processed in a timely manner but First-trade makes no representations or
warranties regarding the amount of time needed to complete processing which is dependent upon many factors
outside of our control.
If you reside in California, you expressly acknowledge and agree that the
releases contained in this Agreement include a waiver of all rights under Section 1542 of the California Civil
Code. This statute reads as follows: A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR
RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND
THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED
PARTY. You acknowledge that they have read all of this Agreement, including the above Civil Code section, and
that you fully understand both the Agreement and the Civil Code section.
(A) Termination by Customer. Customer may request to close or terminate the
Account at any time by notifying Admin@First-trade.ltd and requesting in writing that their Account be closed.
Closing the Account will not affect any rights and obligations incurred prior to the date of Account closure.
Upon the termination of the Account, Customer authorizes First-trade to immediately settle all outstanding
transactions in the Account and liquidate outstanding positions in the Account, as necessary. Customer shall
be required to provide transfer instructions with respect to USD or Cryptocurrency remaining in the Account.
Customer understands and agrees that Customer is responsible for any fees, costs, expenses, charges, or
obligations (including, but not limited to, attorney and court fees or transfer costs of funds or
Cryptocurrency) associated with closing the Account. In the event that the costs of closing the Account exceed
the value in the Account, Customer will be responsible for reimbursing First-trade. First-trade may delay or refuse to
terminate an Account, in instances it deems appropriate or necessary, in its sole discretion, including but
not limited to, where: (a) First-trade believes such action is prudent in order to satisfy First-trade’s anti-money
laundering obligations, (b) First-trade suspects that the Customer is connected to, engaged in, or acting in
furtherance of fraud, or potential fraud, (c) Customer is in violation of the Customer Agreement, (d)
termination is being attempted within sixty (60) days of a deposit of USD or Cryptocurrency into the Account,
or (e) the Account has outstanding actual or anticipated fees or other charges against it (the “First-trade Hold
Purposes”).
(B) Termination by First-trade. Customer agrees that, without notice, First-trade may terminate
this Customer Agreement, suspend, restrict, limit or shutdown all or part of the Services, the Account, as
well as Customer’s access to the Platform, with or without cause at any time and effective immediately,
whether for maintenance or otherwise. First-trade shall not be liable to Customer or any third party for the
termination or suspension of the Services or Platform, or any claims related to such termination or
suspension.
(C) Effect of Termination. In the event that your First-trade Account is suspended or
terminated, we will immediately cancel all open orders associated with your First-trade Account, block all
withdrawals and bar the placing of further orders until resolution or Account cancellation. Upon termination
or cancellation of the Account, Customer must provide First-trade with transfer instructions, together with all
other information that First-trade may reasonably request, in order to transfer any remaining Cryptocurrency out
of the Account. All such transfers must be completed within ninety (90) days following Account deactivation or
cancellation. First-trade may delay or refuse to effectuate such a transfer or termination, in instances it deems
appropriate or necessary, in its sole discretion. If Cryptocurrency is not transferred out of the Account
within ninety (90) days of the termination or cancellation of the Account, Customer hereby agrees that First-trade
is permitted to sell any remaining Cryptocurrency on the open market at the prevailing market price and return
the proceeds (less any damages, fee, costs, or other obligations to which First-trade is entitled) to any valid
account linked to the Account.
You agree to indemnify and hold harmless First-trade, its affiliates and service
providers, and each of its or their respective officers, directors, agents, joint venturers, employees and
representatives, from any loss, damage, cost, action, claim or demand (including attorneys’ fees and any
fines, fees or penalties imposed by any regulatory authority) arising out of or related to your breach of this
Agreement; your use of, or conduct in connection with, the Services; or your violation of any law, rule or
regulation, or the rights of any third-party. To the fullest extent permitted by applicable law, you release
First-trade and the other First-trade parties from responsibility, liability, claims, demands, or damages (actual and
consequential) of every kind and nature, known and unknown (including, but not limited to, claims of
negligence), arising out of or related to disputes between users and the acts or omissions of third-parties.
THE CUSTOMER UNDERSTANDS AND AGREES THAT First-trade, ITS AFFILIATES, AND THEIR RESPECTIVE PARTNERS,
MANAGING DIRECTORS, DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, AND THIRD PARTY PROVIDERS WILL NOT BE LIABLE TO
THE CUSTOMER OR TO THIRD PARTIES UNDER ANY CIRCUMSTANCES, OR HAVE ANY RESPONSIBILITY WHATSOEVER, FOR ANY
SPECIAL, INDIRECT, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES (INCLUDING, WITHOUT LIMITATION, LOST PROFITS,
TRADING LOSSES, AND DAMAGES) THAT THE CUSTOMER MAY INCUR IN CONNECTION WITH THE CUSTOMER’S USE OF THE SERVICES
(INCLUDING BUT NOT LIMITED TO THIRD PARTY SERVICES) OR THE PLATFORM PROVIDED BY First-trade UNDER THE CUSTOMER
AGREEMENT. First-trade, ITS AFFILIATES AND ITS AND THEIR RESPECTIVE PARTNERS, DIRECTORS, OFFICERS, EMPLOYEES, AND
AGENTS SHALL NOT BE LIABLE BY REASON OF DELAYS OR INTERRUPTIONS OF INFORMATION, THE PLATFORM OR SERVICES
(INCLUDING BUT NOT LIMITED TO THIRD PARTY SERVICES) OR TRANSMISSIONS, OR FAILURES OF PERFORMANCE OF First-trade’S,
ITS AFFILIATES, OR THIRD PARTY SYSTEMS, REGARDLESS OF CAUSE, INCLUDING, WITHOUT LIMITATION, THOSE CAUSED BY
GOVERNMENTAL OR REGULATORY ACTION, THE ACTION OF ANY EXCHANGE OR OTHER SELF REGULATORY ORGANIZATION, OR THOSE
CAUSED BY SOFTWARE OR HARDWARE MALFUNCTIONS.
Except as otherwise provided by law, First-trade, its
Affiliates and their respective partners, directors, officers, employees or agents (collectively, “Indemnified
Parties”) shall not be liable for any expenses, losses, costs, damages, liabilities, demands, debts,
obligations, penalties, charges, claims, causes of action, penalties, fines and taxes of any kind or nature
(including, without limitation, legal expenses and attorneys’ fees) (whether known or unknown, absolute or
contingent, liquidated or unliquidated, direct or indirect, due or to become due, accrued or not accrued,
asserted or unasserted, related or not related to a third party claim, or otherwise) (collectively, “Losses”)
by or with respect to any matters pertaining to the Customer Agreement, the Services, Information, or third
party Services, except to the extent that such Losses are actual Losses and are determined by a court of
competent jurisdiction or an arbitration panel in a final non-appealable judgment or order to have resulted
solely from the First-trade’s gross negligence or intentional misconduct. In addition, the Customer agrees that
the Indemnified Parties shall have no liability for, and the Customer agrees to indemnify, defend and hold
harmless the Indemnified Parties from all Losses that result from: (i) any noncompliance by the Customer with
any of the terms and conditions this Agreement; (ii) any third party actions related to the Customer’s receipt
and use of any Information, third party Services, other third party content, or other such information
obtained through the Platform, whether authorized or unauthorized under the Customer Agreement; (iii) any
third party actions related to the Customer’s use of the Platform, Information, or third party Services; (iv)
the Customer or the Customer’s agent’s misrepresentation or alleged misrepresentation, or act or omission; (v)
Indemnified Parties following the Customer or the Customer’s agent’s directions or instructions, or failing to
follow the Customer or the Customer’s agent’s unlawful or unreasonable directions or instructions; (vi) any
activities or services of the Indemnified Parties in connection with an Account (including, without
limitation, any technology services, reporting, trading, or research services or (viii) the failure by any
person not controlled by the Indemnified Parties and their Affiliates to perform any obligations to the
Customer. Further, if the Customer authorizes or allows third parties to gain access to the Platform,
Information or the Account, the Customer will indemnify, defend and hold harmless First-trade, its affiliates and
its and their respective directors, officers, employees and agents against any Losses arising out of claims or
suits by such third parties based upon or relating to such access and use. First-trade does not warrant against
loss of use or any direct, indirect or consequential damages or Losses to the Customer caused by the
Customer’s assent, expressed or implied, to a third party accessing an Account or
information.
CUSTOMER AGREES TO INDEMNIFY First-trade FOR ACTUAL, REASONABLE LEGAL COSTS AND EXPENSES
DIRECTLY RELATED TO THE ACCOUNT THAT ARE A RESULT OF ANY REGULATORY INQUIRY, LEGAL ACTION, LITIGATION,
DISPUTE, OR INVESTIGATION THAT ARISES OR RELATES TO CUSTOMER OR CUSTOMER’S USE OF THE ACCOUNT OR THE SERVICES.
CUSTOMER UNDERSTANDS THAT, AS A RESULT, First-trade WILL BE ENTITLED TO CHARGE THE ACCOUNT FOR SUCH COSTS WITHOUT
NOTICE, INCLUDING LEGAL AND ENFORCEMENT RELATED COSTS THAT First-trade INCURS. ANY WITHHOLDING WILL LAST FOR A
PERIOD OF TIME THAT IS REASONABLY NECESSARY TO RESOLVE ANY REGULATORY OR LEGAL ISSUE AT HAND, AND First-trade MAY
PLACE ANY AMOUNTS GARNERED FROM CUSTOMER IN A SEPARATE ACCOUNT, AND WILL PAY TO CUSTOMER THE REMAINING BALANCE
AFTER ANY NOTED ISSUE HAS BEEN RESOLVED. FURTHERMORE, CUSTOMER AGREES THAT WHERE SUCH ACTIONS RELATE TO A
SPECIFIC ASSET IN THE ACCOUNT, THAT ASSET MAY NOT BE TRANSFERRED OUT OF THE ACCOUNT UNTIL THE MATTER IS
RESOLVED.
If you have a dispute with First-trade, we will attempt to resolve any such disputes
through our support team. If we cannot resolve the dispute through our support team, you and First-trade agree
that any dispute arising under this Agreement shall be finally settled in binding arbitration, on an
individual basis, and you and First-trade hereby expressly waive trial by jury and right to participate in any
action involving collective, consolidated, or representative proceedings, including a class action lawsuit or
class-wide arbitration.
If you are a customer of First-trade, Inc., the arbitration shall be
administered by the BVI International Arbitration Centre pursuant to its rules. The arbitration will be
conducted by a single, neutral arbitrator and shall take place in the British Virgin Islands, in the English
language. The arbitrator may award any relief that a court of competent jurisdiction could award, including
attorneys’ fees when authorized by law, and the arbitral decision may be enforced in any court. The prevailing
party in any action or proceeding to enforce this Agreement shall be entitled to costs and attorneys’
fees.
If you are a customer of First-trade Pte. Ltd. or First-trade BVI, the arbitration shall be referred
to and finally resolved by arbitration administered by the Singapore International Arbitration Centre (“SIAC”)
in accordance with the Arbitration Rules of Singapore International Arbitration Centre (“SIAC Rules”) for the
time being in force, which rules are deemed to be incorporated by reference in this clause. The arbitration
will be conducted by a single, neutral arbitrator and shall take place in Singapore, or another mutually
agreeable location, in the English language. The arbitrator may award any relief that a court of competent
jurisdiction could award, including attorneys’ fees when authorized by law, and the arbitral decision may be
enforced in any court. The prevailing party in any action or proceeding to enforce this Agreement shall be
entitled to costs and attorneys’ fees.
If you are a First-trade, Inc. customer, you agree that the laws of the State of
Delaware, without regard to principles of conflict of laws, will govern this Agreement and any claim or
dispute that has arisen or may arise between you and First-trade, Inc. If you are a customer of First-trade Global
Ltd., you agree that this Agreement shall be governed by and construed and enforced in accordance with the
Laws of the British Virgin Islands, without regard to principles of conflict of laws, will govern this
Agreement and any claim or dispute that has arisen or may arise between you and First-trade Global Ltd.
First-trade shall not be liable for delays, failure in performance or interruption
of service which result directly or indirectly from any cause or condition beyond our reasonable control,
including but not limited to, any delay or failure due to any act of God, act of civil or military
authorities, act of terrorists, civil disturbance, war, strike or other labor dispute, fire, interruption in
telecommunications or Internet services or network provider services, failure of equipment and/or software,
other catastrophe or any other occurrence which is beyond our reasonable control and shall not affect the
validity and enforceability of any remaining provisions.
This Agreement shall not be construed to waive rights that cannot be
waived under applicable governing laws where you are located.
We may amend or modify this Agreement, in our absolute and sole discretion, by
posting on the First-trade Site or emailing to you the revised Agreement, and the revised Agreement shall be
effective at such time. If you do not agree with any such modification, your sole and exclusive remedy is to
terminate your use of the Services and close your account. You agree that we shall not be liable to you or any
third-party for any modification or termination of the Services, or suspension or termination of your access
to the Services.
This Agreement and the Privacy Policy incorporated by reference herein comprise
the entire understanding and agreement between you and First-trade as to the subject matter hereof, and supersedes
any and all prior discussions, agreements and understandings of any kind (including without limitation any
prior versions of this Agreement), and every nature between and among you and First-trade. Section headings in
this Agreement are for convenience only, and shall not govern the meaning or interpretation of any provision
of this Agreement. The Parties understand and agree that all terms and conditions in this Agreement that
require continued performance, compliance, or effect beyond the termination date of the Agreement shall
survive such termination date and shall be enforceable in the event of a failure to perform or comply.
If any provision of this Agreement is determined to be invalid or unenforceable
under or by any regulation, law, court of competent jurisdiction, or any government agency, such provision
will be changed and interpreted to accomplish the objectives of the provision to the greatest extent possible
under any applicable law and the validity or enforceability of any other provision of this Agreement shall not
be affected.
You may not assign any rights and/or licenses granted under this Agreement. We
reserve the right to assign our rights without restriction, including without limitation to any First-trade
affiliates or subsidiaries, or to any successor in interest of any business associated with the Services. Any
attempted transfer or assignment in violation hereof shall be null and void. Subject to the foregoing, this
Agreement will bind and inure to the benefit of the parties, their successors and permitted assigns.
Last Updated March 15, 2023