1. Trading Platform and Ownership:
ZPX WLL, together with its website ([www.qume.io]) (the “ZPX Platform”) is a trading platform that is owned and operated by:
ZPX Technologies WLL
Levels 22, West Tower Bahrain Financial Harbour
King Faisal Hwy
2. Regulated under:
ZPX WLL is an active company under the Fintech Regulatory Sandbox of the Central Bank of Bahrain, under the laws of the Kingdom of Bahrain.
3. ZPX Platform:
The ZPX Platform is a digital cryptocurrency trading exchange and trading platform.
4. ZPX Terms of Service:
Use of the ZPX Platform and website (the “ZPX Website”) together with any and all services offered therein (the “ZPX WLL Website Services”) are and will be governed by the terms contained in these Terms of Service (the “ZPX Terms of Service”).
5. Entire Agreement:
This agreement entirely constitutes the agreement between the parties.
6. Agreement to these Terms:
You agree that by accessing and using the ZPX WLL Website in any manner, you acknowledge that you have read, understood and agree to the ZPX Terms of Service.
7. Change in Terms:
ZPX WLL can change any terms listed in this agreement without prior notice. You agree that at all times, you will continue to be bound to the ZPX Terms of Service. You understand that it is your responsibility to review and understand the ZPX Terms of Service and that you have the ability to access and review the ZPX Terms of Service at any time and you agree to do so.
8. Trademarks and Intellectual Property:
a. All of the content, images, and all other material (which are all owned by ZPX WLL) on the website (which include trademarks and intellectual property) are protected by copyright laws. You have no permission whatsoever (including any implied permission) for any use. Any use is only permissible with express written authority/consent.
b. You are however given permission to print excerpts from the website for non-commercial use only and so long as no alterations are made to the materials.
9. Rights in the ZPX Website:
You shall in no circumstances whatsoever, obtain any rights over or in respect of the ZPX Website (other than rights to use the ZPX Website pursuant to the ZPX Terms of Service and any other terms and conditions governing a particular service or section of the ZPX Website) or hold yourself out as having any such rights over or in respect of the ZPX Website.
10. Who can access the ZPX Website and sue the ZPX Trading Platform:
You are not allowed to access or use the ZPX Trading Platform or the ZPX WLL Website Services if you are located, incorporated or otherwise established in, or a citizen or resident of:
(i) the United States of America, the province of Québec in Canada, Cuba, Crimea and Sevastopol, Iran, Syria, North Korea or Suda
(ii) any state, country or other jurisdiction that is embargoed by the United States of America;
(iii) a jurisdiction where it would be illegal according with/to applicable Law for you (by reason of your nationality, domicile, citizenship, residence or otherwise) to access or use the ZPX WLL Website Services or the ZPX Trading Platform; or
(iv) where the publication or availability of the ZPX WLL Website Services or the ZPX Trading Platform is prohibited or contrary to local law or regulation, or could subject any member of ZPX WLL to any local registration or licensing requirements (the “Restricted Jurisdictions”). ZPX WLL may, in its sole discretion, implement controls to restrict access to the ZPX WLL Services or the ZPX Trading Platform in any of the Restricted Jurisdictions. If ZPX WLL determines that you are accessing the ZPX WLL Website Services or the ZPX Trading Platform from any Restricted Jurisdiction or have given false representations as to your location of incorporation, establishment, citizenship or place of residence, ZPX WLL reserves the right to close any of your accounts immediately and liquidate any open positions.
11. If You Disagree with the ZPX Terms of Service:
a. The trading of goods and products, real or virtual, as well as virtual currencies, involves significant risk which you should be aware of. Prices do and can fluctuate on any given day. Due to such price fluctuations, you may increase or lose value in your assets (in part or in total) at any given moment. Any currency (virtual or not) may be subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling or trading any instrument on a market/platform.
b. Cryptocurrency trading also has special risks not shared with official currencies or goods or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or by commodities such as gold or silver, Cryptocurrency is a unique and backed by technology and trust. There is no central bank that can take corrective measure to protect the value of Cryptocurrency in a crisis or issue more currency. Instead, Cryptocurrency is an as-yet autonomous and largely unregulated worldwide network. Traders put their trust in a digital, decentralized and partially anonymous system that relies on peer-to-peer networking and cryptography to maintain its integrity.
c. Cryptocurrency trading is susceptible to irrational/rational fluctuations or loss of confidence, which could collapse demand relative to supply in a variety of situations.
13. Additional Risks:
a. As there are derivatives being traded on the ZPX Platform, there could be additional counter party risk. You should be aware that in/under extreme market circumstances, ZPX WLL may decide to partially or entirely close winning positions to be able to close loosing positions. Derivatives settle daily in 24h sessions. So, if bankruptcies in a session deplete the insurance fund, any further losses will be covered by profits made by traders on the platform on a pro rata basis. In such a case, all winning traders of a session would get taxed a percentage on their earnings to cover for other traders’ bankruptcies.
b. You should note that ZPX WLL will only undertake such steps after the ZPX WLL insurance fund is depleted. The fund upon inception of the trading on the ZPX Trading Platform was capitalized with [·] by ZPX WLL. In general, the fund will be used to cover for system losses due to bankruptcies. [The current status of the insurance fund is shown in real-time on the “Insurance” page accessible on the ZPX Trading Platform.]
14. Nature of Cryptocurrency:
Due to the nature of cryptocurrencies, there could occur situations where ZPX WLL also or in insolation of clause 15 above, takes the step where contracts will be closed prematurely for platform integrity. Users of the platform are assumed to understand those risks.
15. Further Note:
You should be aware that there may be additional risks that ZPX WLL has not foreseen or identified in the ZPX Terms of Service.
16. Assess Your Situation:
Based on what we have identified as risks, the trading you will perform on the ZPX WLL Platform and the nature of cryptocurrency, you should carefully assess whether your financial situation and tolerance for risk is suitable for buying, selling or trading cryptocurrency.
1. Restrictions on Accessing the ZPX Website:
a. You must not use the ZPX Website in any way that will/may cause, damage to the website or impairment of the availability or accessibility of the ZPX Website; or in any way which is unlawful, illegal, fraudulent or harmful, or in connection with any unlawful, illegal, fraudulent or harmful purpose or activity.
b. You shall not perform any illegal activities or do anything in contravention/against any applicable rule, law or regulation when accessing the ZPX Website.
c. You must not use this website to copy, store, host, transmit, send, use, publish or distribute any material which consists of (or is linked to) any spyware, computer virus, Trojan horse, worm, keystroke logger, rootkit, malicious computer software or the like.
You must not conduct any systematic/automated data collection activity/ies (including without limitation scraping, data mining, data extraction and data harvesting) on or in relation to the ZPX Website.
3. Usernames/passwords - your responsibility:
You are responsible to ensure that all usernames and passwords are kept confidential at all times. If there is a loss or compromise of your username and password, it is your responsibility to notify ZPX WLL immediately in writing. Upon being notified, ZPX WLL will first investigate the incident and thereafter, initiate a reset of your password.
4. Security/Integrity of ZPX Website:
a. You must maintain the understanding that preserving a secure trading website is of the highest priority and concern of ZPX WLL. As a user, you acknowledge that you will, at no time, ever knowingly or otherwise attempt/try to undermine the security and/or integrity of the ZPX Website.
b. At no time should you ever compromise the ZPX Website in a way whatsoever that would interfere in any functionality of any part of the ZPX Website.
c. You have no authority whatsoever to use the ZPX Website to interfere or access any account except those in which the you have authority to access.
5. Upload/Download from ZPX Website:
You have no authority/permission whatsoever to upload any material onto the ZPX Website nor download any material from the ZPX Website except where files have been expressly made available for public download.
6. Benefit for User's Account:
By accessing the ZPX Website, you agree that all business you conduct by such access shall be/is for the legal benefit of the user’s account.
7. Representations and Warranties of User:
By opening an account on the ZPX Website, you represent and warrant that:
a. you have accepted the ZPX Terms of Service;
b. you are at least 18 years of age and have the legal capacity to accept/agree to the ZPX Terms of Service;
c. you are the legal owner of the cryptocurrency you add to your account with ZPX WLL;
d. using the services being offered through the ZPX Platform and/or the ZPX Website, does not breach of your home jurisdictions’ laws or any other applicable rules, laws and/or regulations;
e. you are aware of the risks in using the services provided by ZPX WLL. These risks include:
(i) the high volatility and risk of any cryptocurrency;
(ii) that you may lose all of the cryptocurrency in your trading account if the market moves against you;
(iii) that you are not/will not be involved or initiate any form of market manipulation, including spoofing orders or otherwise;
(iv) that the information or documents you provide are correct, genuine and up-to-date;
(v) that the cryptocurrency withdrawal address you have provided is your own and that you have full control over this address.
8. Representations and Warranties of ZPX WLL:
a. ZPX WLL will provide market data to facilitate your use of the ZPX Website.
b. ZPX WLL makes NO WARRANTIES whatsoever about the timelines, sequence, accuracy, or completeness of the market data being provided, and you accept and agree that ZPX WLL and/or any of its affiliates/subsidiaries shall not be held in any away, liable for any inaccuracy, error, delay or omission resulting from your use of such market data.
9. Service stoppage:
ZPX WLL reserves the right to revise and/or discontinue any or all ZPX WLL Website Services without prior notice to any of the users.
ZPX WLL makes no guarantee that the ZPX Website will be uninterrupted or error free. You should note that among other things, the operation and availability of the ZPX Platform can be unpredictable and may from time to time be un-accessible. ZPZ WLL is not in any way responsible for any such interference that prevents your access or use of the ZPX Website and the ZPX WLL Website Services.
a. ZPX WLL reserves the right at any time to verify your identity.
b. ZPX WLL may impose certain trading limits before you are required to supply additional personal information about yourself and your transactions.
c. By conducting business on the ZPX Trading Platform, and/or the ZPX Website, you agree to cooperate with us in this process and to provide all documentation/information that we may require.
12. Restriction on Trading Accounts:
a. ZPX WLL shall have the right to restrict the trading activity of any account in which it is deemed necessary based upon suspicion of any trading activity that has breached any of the express or implied ZPX Terms of Service as listed herein. This restriction may also result in the cancelling of trades.
b. PLEASE NOTE that ZPX WLL is not responsible for any losses incurred by restricting trades, reversing or closing out trades early due to a suspected breach of the ZPX Terms of Service.
13. General indemnity:
You agree to hold ZPX WLL harmless and indemnify ZPX WLL against any action by you or any third party that might have been harmed by your actions.
14. Closing of your Account by ZPX WLL:
a. During any investigation of the conduct of your account, no trades, deposits or withdrawals will be allowed. At the conclusion of any investigation by ZPX WLL, ZPX WLL has the right to close out the account without providing any further explanation.
b. At any time, if ZPX WLL decides to close out your account, we will provide seven (7) days’ notice. You will then have seven (7) days to close out any outstanding positions. After seven (7) days, if the positions are not closed, ZPX WLL will take immediate action to close out the positions and return any remaining cryptocurrency to you at the address on record.
15. Halting of Trading:
It is the responsibility of ZPX WLL to maintain an orderly market and as such ZPX WLL may at its discretion halt trading on the ZPX Website due to market disruption or other relevant external events. ZPX WLL excludes all liability for any claimed losses or profits lost as a result of ZPX WLL halting trading.
16. Reversing of Trades:
ZPX WLL has the right to reverse trades or adjust prices of trades that it regards as being traded at abnormal prices (far away from the price level to be expected from an orderly market).
Nothing in this website will exclude or limit any warranty including that implied by law that it would be unlawful to exclude or limit; and nothing in this website disclaimer will exclude or limit ZPX WLL’s liability in respect of any:
a. fraud or fraudulent misrepresentation on the part of ZPX WLL;
b. any matter which it would be illegal or unlawful for ZPX WLL to exclude or limit, or to attempt or purport to exclude or limit, its liability.
18. No Financial Advice:
a. At no time should any information provided in the ZPX Terms of Service or on the ZPX Website be construed as financial advice.
b. ZPX WLL does not provide any opinion on any investment. Any information provided is for educational/informational purposes only and to keep you informed of prices, ranges, and volatility of the cryptocurrency. Any decision to purchase or sell is done at your discretion and as such, you are liable for any loss(es) suffered.
19. Indemnification from You:
a. You agree to indemnify and hold harmless ZPX WLL, its contractors, its licensors, and their respective directors, officers, employees and agents from and against any and all claims and expenses, including attorneys’ fees, arising out of your use of the ZPX WLL Website, including but not limited to your violation of the ZPX Terms of Service.
b. In no event will ZPX WLL, or its suppliers or licensors, be liable with respect to any subject matter of these ZPX Terms of Service under any contract, negligence, strict liability or other legal or equitable theory for:
(i) any special, incidental or consequential damages;
(ii) the cost of procurement or substitute products or services;
(iii) for interruption of use or loss or corruption of data; or
(iv) for any amounts that exceed the fees paid by you to ZPX WLL under the ZPX Terms of Service during the twelve (12) month period prior to the cause of action.
ZPX WLL shall have no liability for any failure or delay due to matters beyond its reasonable control. Neither of these provisions shall apply to the extent prohibited by applicable law.
Any failure or delay by ZPX WLL to enforce/exercise any of its rights/provisions of the ZPX Terms of Service will not be construed as a waiver to any extent of its rights.
21. Limited Liability:
a. Except as permitted to the maximum extent by applicable laws, in no event shall ZPX WLL, its directors, employees, agents, suppliers, resellers, service providers, or other users be liable for any direct, special, indirect, incidental, consequential, exemplary or punitive damages, including but not limited to damages for loss of use, loss of profits, loss of information, business interruption, revenue, or goodwill, whether on the basis of contract, tort (including but not limited to negligence), or otherwise arising out of the use or inability to use the ZPX WLL Website, or mistakes, omissions, interruptions, deletions, errors, defects, viruses, delays in operation or transmission or any failure of performance of the site or any information transmitted to ZPX WLL.
b. To the maximum extent permitted by applicable laws, in no event shall the aggregate liability of ZPX WLL, its directors, employees, agents, suppliers, resellers, service providers, or other users whether on the basis of contract, warranty, tort (including but not limited to negligence), product liability, strict liability, or other theory arising out of the use or inability to use the site, or mistakes, omissions, interruptions, deletions, errors, defects, viruses, delays in operation or transmission or any failure of performance of the ZPX Website, exceed the fees paid by you to ZPX WLL during the six (6) months immediately preceding the date of any claim giving rise to such liability.
c. If ZPX WLL is unable to perform the ZPX WLL Website Services outlined in these ZPX WLL Terms of Service due to factors beyond its control including but not limited to events (including force majeure events), change of law or change in sanctions policy, ZPX WLL will not have any liability to you with respect to the ZPX WLL Website Services provided under these ZPX WLL Terms of Service and for a time period coincident with the event.
22. Breach of terms:
If any of the ZPX WLL Terms of Services are violated, ZPX WLL reserves the right to seek any and all legal remedies allowable by law to remedy the violation. These may include any and all of the following:
a. restricting any activity in your account;
b. freeze your account;
c. close your account; and/or
d. limit your activity to the ZPX WLL Website.
ZPX WLL has the right and authority to disclose your user identity and personal details if required or requested by a court of law, governmental agency or any other law enforcement authority in such circumstances as ZPX WLL in its sole discretion considers reasonably necessary or appropriate.
24. Changes of Terms:
ZPX WLL reserves the right to change, add or remove portions of these ZPX WLL Terms of Service, at any time, in an exercise of its sole discretion. It is your responsibility to review the amended terms. Your continued use of the ZPX Website signifies that you accept and agree to the changes, and that all subsequent transactions by you will be subject to the amended terms..
25. Governing Law:
The ZPX WLL Terms of Service are governed by and construed in accordance with laws of the Kingdom of Bahrain.
If you have any questions relating to these ZPX Terms of Service, your rights and obligations arising from these ZPX Terms of Service and/or your use of the ZPX Website and ZPX WLL Website Services, your Account, or any other matter, please contact firstname.lastname@example.org.