Terms of Service
WALBI LLC (company number 3001 LLC 2023), registered office: Euro House, Richmond Hill Rd, Kingstown, St. Vincent and the Grenadines. Effective date: July 1st, 2023.
1. Introduction
These Terms of Use constitute an agreement between WALBI LLC (the "Company") and the registered user (the "User"). By opening an account, the User confirms having read, understood and accepted all provisions of this Agreement. The User must complete the Company's KYC procedures before or after account opening and warrants that all information provided during registration is true and complete.
2. Scope of Agreement
The Company's services include opening and maintaining User accounts, acting as an intermediary in matching orders, distributing funds, and acting as principal in specific transactions. By opening an account the User consents to these Terms.
3. General Conditions
Assets reflected in the Account balance belong to the person or legal entity registered as the Account Holder. The User must ensure that opening and maintaining an account is legal in their country of residence. The User must keep account information current and truthful and notify the Company of any changes within one month. The Company shall neither receive nor disburse the User's funds in cash. The User is responsible for protecting their credentials and may not share account access with third parties. Use of the account for fraud, money laundering or any illegal purpose is strictly prohibited; in case of violation the Company may reverse transactions, suspend the account, report to competent authorities and charge an administrative fee of up to $500.
4. Account
Registration is performed via the platform and requires acceptance of this Agreement and legal capacity. The User must regularly monitor balances and promptly report irregularities. All statements, reports and notices are transmitted electronically to the registered email and are deemed delivered when sent. The User may suspend the account at any time; the Company may request additional verification documents for AML/CFT purposes. Transfers may only be made to and from accounts held in the User's own name; third-party fees and conversion fees may be deducted from transfer amounts. Withdrawals require the User's credentials and may require additional verification, including a valid passport or national ID, proof of address issued within the last 6 months, and, at the Company's discretion, proof of income or source of funds. The User is responsible for the accuracy of payment details; the Company is not liable for funds sent to an incorrectly specified institution.
5. Fees and Commissions
The Company charges fees on User-initiated transactions; applicable amounts are specified in the account and published on the platform. Fees may vary and may be changed by the Company; changes become effective upon publication, and continued use of the services constitutes acceptance. The User authorises the Company to deduct applicable fees from the account and remains liable for all related charges and costs, including third-party fees.
6. The Company's Rights and Obligations
The Company may reject, cancel or adjust any order or transaction; suspend or close accounts; restrict access or impose limits in case of platform failure, security incidents, breach of this Agreement, violation of law, market conditions or absence of liquidity. During internal AML/CFT investigations based on reasonable suspicion, the Company may suspend the account and prohibit activities including withdrawals. The Company may cancel or adjust trades within a reasonable timeframe if prices later prove incorrect, providing an explanation. The Company maintains sole discretion over price feeds, trading parameters, order routing and instrument availability, and cannot guarantee execution of the User's orders.
7. User Representations and Warranties
The User represents being of legal age and sound mind, having full legal capacity, holding the account in their own interest with no third-party interest, and not being employed by a trading venue or certain financial institutions (with a duty to notify if this changes). The User must immediately report any platform errors affecting their interests and must not exploit system errors. Unauthorised or incorrectly executed transactions must be reported within 1 day. The User confirms no separate agreements exist with Company employees regarding trading, profit guarantees or loss limits. The User consents to the Company or its affiliates acting as counterparty to trades. The User is solely responsible for monitoring regulatory requirements applicable in their country and for calculating and declaring taxes.
8. No Financial Advice
Any information provided by the Company is for practical purposes only. The User enters into transactions voluntarily, without reliance on any information provided by the Company, and acknowledges that trading is undertaken at the User's own risk and that prices may be affected by factors beyond anyone's control.
9. Margin Trading
Margin trading involves significant risk. The User may lose more funds than deposited into the margin account and may be required to provide additional funds to avoid forced liquidation. If the account falls below maintenance margin requirements, the Company may sell the User's assets without prior notice and the User remains responsible for any resulting shortfall. Maintenance margin requirements may be changed at any time with immediate effect. If the margin account balance becomes negative, the User must repay the owed amount within 48 hours.
10. Liquidation of Account
The Company may liquidate the account upon: the User's death or legal incapacity; bankruptcy; attachment against the account; insufficient margin; failure to provide requested information; or activity aimed at deriving no-risk profits from the Company, including abuse of bonus programmes or errors in the Agreement. The Company may satisfy the User's obligations from any funds in custody, cancel outstanding orders, close the account and terminate the Agreement, without prior notice or margin demand.
11. Restricted Jurisdictions
The Company does not provide services to residents of jurisdictions identified by the FATF as presenting elevated risk, nor to residents of, among others: the USA, Japan, Australia, the UK, EU/EEA countries, Canada (British Columbia), Russia, Iran, North Korea, South Korea, Syria, Cuba, Venezuela, Myanmar, Afghanistan and other listed countries and territories. The list may be updated at any time by decision of the Compliance Officer. The Company may close positions and suspend the account if the User becomes a resident of a non-serviced jurisdiction.
12. Limitation of Liability and Indemnification
To the maximum extent permitted by law, the Company, its licensors, agents and suppliers shall not be liable for any direct, indirect, incidental, consequential, exemplary or punitive damages, including lost profits, business opportunities or goodwill; for service interruptions, transmission delays, data loss, viruses, force majeure events, actions of regulatory bodies or unauthorised use of the account. The User shall defend and indemnify the Company, its affiliates, employees and contractors against any losses, claims and costs (including attorney fees) arising from the User's breach of this Agreement, misuse of the platform or violation of law.
13. No Warranties
The services are provided on an "as is" and "as available" basis. All warranties, including merchantability, fitness for a particular purpose, title and non-infringement, are disclaimed. The Company does not represent that the platform will be uninterrupted, timely, secure or without errors. The User is solely responsible for backing up their information.
14. Service Providers
The platform and related software may be provided by third-party licensors, who may modify functionality, configuration, parameters and instrument availability at any time. The Company makes no warranties regarding such third-party technology.
15. Communications, Statements and Confirmations
Reports, statements and notices are delivered electronically and deemed delivered when posted, whether actually received or not. Confirmations and statements are deemed correct, conclusive and binding unless objected to within 1 day of transmission. The User consents to the recording of conversations with Company employees; recordings may be used as evidence in disputes.
16. Complaints
A User who believes the Company has breached this Agreement may file a complaint within one week of the grievance arising.
17. Refunds
Due to the nature of the business, the Company does not issue refunds, except where the User is not the verified account holder; in such cases refunds are processed using the original payment method. Users may withdraw funds via the standard withdrawal procedure.
18. Bonuses
Bonus funds may not be used for simultaneous opposite-direction trades on the same or correlated instruments or accounts. In case of violation the Company may adjust financial results, annul profits or close the account. Bonuses are issued at the Company's discretion, may be cancelled, and may be received only once per programme.
19. Privacy
Processing of personal data is governed by the Privacy Policy available on the platform.
20. Governing Law and Jurisdiction
This Agreement is governed by the laws of St. Vincent and the Grenadines. All proceedings must be brought in the Company's jurisdiction; the User waives the right to a jury trial. No action may be brought more than one year after the cause of action arose. Before initiating legal proceedings, the User must file a complaint with customer support and, if unresolved within 60 days, submit a written claim to the registered address.
21. Anti-Money Laundering Policy
The Company monitors transactions for suspicious activity and reports to competent authorities as required by law. Related information and documentation are retained for at least five years, including after account termination. The Company may engage third parties for information validation and AML services.
22. Amendments
The Company may amend this Agreement at any time at its sole discretion. Amendments are posted on the platform and become binding on the earlier of one business day after posting or upon the User executing a transaction. Continued use of the services constitutes acceptance; Users who object must stop using the services immediately.
23. Termination
The User may terminate this Agreement at any time, provided no liabilities to the Company exist. The Company may terminate at any time by notice, and without notice in case of breach of this Agreement or applicable law, suspected fraud, money laundering, bad faith, compromised account security, failure to provide requested documents, signs of document forgery, use of unauthorised algorithmic trading methods, or other circumstances threatening the Company's activity. Termination does not affect obligations arising from prior transactions.
24. Force Majeure
The Company is not responsible for damages caused by delays or failures resulting from fires, strikes, floods, power outages, acts of God, enemy action or acts of lawful public authority.
25. Intellectual Property
All content of the website and services is the intellectual property of the Company. The User is granted a limited, non-exclusive, non-sublicensable licence to access and use the data made available by the Company for personal use only. The licence terminates automatically upon suspension or termination of access.
26. Support
For any questions regarding this Agreement, contact the Company via the platform interface or at [email protected].