The following Terms & Conditions illustrate the relationship between CedarFX (henceforth to be known as ‘the Broker’) and individual website users (henceforth to be known as ‘the Client’) who have submitted their registration form on www.cedarfx.com (henceforth to be referred to as the ‘Broker Website’).
Broker Website materials are all registered trademarks of the Broker and are protected under copyright law. Website materials may only be copied by customers solely for non-commercial purposes. Reproduction of any part of the website for commercial gain through selling or distribution is strictly prohibited. The Client is not at liberty to perform any modifications or include Broker material into any other work, publication, website, in print or electronic form, including but not limited to publication on other websites. No other license or right is granted.
Broker Website transactions are handled through Bitcoin or an external payment service provider within the website. The Broker reserves the right to revise, update, or delete sections of said Terms & Conditions without the need to disclose to the Client beforehand.
The CedarFX Sign-Up Process is only to be completed once the Client indicates that they have read and accepted all information outlined in said Terms & Conditions found on the Broker Website. The Client must agree that all transactions on the Platform will be subject to the updated Terms and Conditions, in order to be eligible to make use of the Broker’s services.
If a violation of any of the following Terms & Conditions listed occurs then the Broker reserves the right to suspend said Client’s trading account, with the possibility of further action to be taken.
Introduction to the Terms of Business
All instructions given by the Client must be made through the Client's terminal. The Broker may reject instructions if the Client's free deposit is less than the amount required to meet the Client's instructions.
The Client agrees that the Broker has the right to perform currency conversion if it is determined necessary or desirable to fulfil the obligations or rights arising from the operating contract of each transaction. The exchange rate will be determined by the Broker based on the current exchange rate of the freely exchangeable currency. The Client is responsible for all foreign exchange risks related to the Broker’s rights or obligations as per the Client’s transaction or operating contract.
If a position is held open past 00:00 UTC, it will be rolled over to the next day and the Client’s trading account will be debited or credited accordingly.
Quotes made by the Broker through the Trading Platform shall be treated solely as demonstrative and shall only apply during the displayed time. These quotes do not constitute an offer made on the Broker’s behalf to order an asset at that price. Quotes are subject to fluctuations and volatility.
The Broker may cancel any transactions executed on an Error Quote. The Broker reserves the right to determine the validity of the Quote.
The Broker may choose to not follow the Client’s instructions outside of standard trading hours.
The Broker has the right to modify spreads for each instrument without prior notice.
CFD and spread betting quotes found on the Broker Platform are correlated to the price of the underlying asset, but the Broker is not obliged to ensure that CFD the ‘Bid’ and ‘Ask’ quotes displayed after markets close are fully reflective of the underlying asset’s price.
Clients can execute the following types of orders: Fill or Kill, Good for Seconds, Good till Cancel, Good till Date/Time, Immediate or Cancel.
Market Orders must include the instrument, ‘buy’/’sell’ decision, maximum and minimum order quantity and order expiry. The server will execute the order once it is received at the current ask or bid price respectively. For buy orders, the minimum transaction size must not exceed the maximum order quantity. For sell orders, the maximum transaction size must exceed the minimum order quantity.
Limit Orders must include the Instrument, ‘buy’/’sell’ decision, maximum and minimum order quantity, order expiry and order limit Price. The server will execute the order (except for ‘Fill or Kill’ expiry orders) once it is received at the current ask or bid price respectively according to the following terms:
The ‘Ask’ or ‘Bid’ minimum transaction size must be lower than the Maximum Order Quantity, otherwise, the Order cannot be partially or fully executed at the ‘Ask’ or ‘Bid’ respectively.
The ‘Ask’ or ‘Bid’ maximum transaction size must be higher than the Minimum Order Quantity, otherwise, the Order cannot be partially or fully executed at the ‘Ask’ or ‘Bid’ respectively.
The ‘Ask’ or ‘Bid’ maximum transaction cannot be exceeded at the ‘Ask’ or ‘Bid’.
Stop Loss Orders must include the instrument, ‘buy’/’sell’ decision, maximum and minimum order quantity and order buy/sell side. These will be executed when received by the server as follows:
Buy Stop Loss Order with ‘bid’ order stop side. This becomes a Buy Order if the highest Bid price reaches or exceeds the Order stop price.
Buy Stop Loss Order with ‘ask’ order stop side. This becomes a Buy Order if the lowest Ask price reaches or exceeds the Order stop price.
Sell Stop Loss Order with ‘bid’ order stop side. This becomes a Sell Order if the highest Bid price reaches or falls beneath the Order stop price.
Sell Stop Loss Order with ‘ask’ order stop side. This becomes a Sell Order if the lowest Ask price reaches or falls beneath the Order stop price.
Trailing Stop Orders must include the instrument, ‘buy’/’sell’ decision, maximum and minimum order quantity and order buy/sell side and optional order limit price. These will be executed when received by the server as follows:
Opening a buy Stop Loss order (if limit price not included)/ Buy Stop Limit order (if Order Limit Price is specified) or opening a sell Stop Loss order (if limit price not included)/ Sell Stop Limit order (if Order Limit Price is specified).
For Buy Stop Loss orders, the Order Stop Price will be set at the highest current Bid price & trail by pips (for ‘Bid’ order stop side) or at the lowest current Ask price & trail by pips (for ‘Ask’ order stop sides). For Sell Stop Loss orders, the Order Stop Price will be set at the highest current Bid Price minus Trail by Pips for (‘Bid’ order stop side) or at the lowest Ask price minus Trail by Pips for (‘Ask’ order stop side).
The Order Stop Price will fluctuate if the difference between the Order Stop Price and the highest current Bid price (for ‘Bid’ order stop side) or at the lowest current Ask price (for ‘Ask’ order stop sides) exceeds Trail by PIPs.
If the Client’s trading account margin levels become are insufficient, the following applies:
The server can close any Client Positions can be closed at Market Order without prior warning.
The Broker can close any Open Positions without prior consent should account funds amount to less than 70% of the margin.
Clients must settle any losses or negative balances incurred through the Client Trading Account immediately.
Disagreement Resolution Process
Both the Broker and Client have the right to trigger a Dispute Resolution process. To process a Dispute Resolution the Broker requires the following data:
Client name and surname, or Broker name in case of legal entities;
Time and date of conflict, presented in UTC;
Client MT4 Login Number;
An explanation of conflict and, if necessary, reference to these Terms of Business.
Complaints containing vulgar, obscene or insensitive language will be dismissed.
Evidence derived from the Broker log files takes precedence over all other dispute data, including the Client’s terminal log files. The Broker reserves the right to dismiss complaints should deciding data be lacking from the Server log files.
The Broker reserves the right to resolve complaints through the crediting or debiting of a Client’s trading account, order cancellations, or voiding transactions. In no circumstances will third-party resolution methods be adopted and implemented.
The Broker will begin investigating complaints within 30 days of receipt with the intention to resolve the issue at the earliest opportunity.
The Broker may dismiss complaints in instances where:
losses are incurred or profits are lower than anticipated through a Client’s fault.
The Client experiences non-financial damage that is directly or indirectly linked to their activity on the Broker Website.
The Client attempts to complete a transaction during routine Server maintenance.
The Client takes advantage of temporary excess Free Margin, occurring from a profitable position opening at an error quote which is later cancelled by the Broker.
Orders cannot be executed due to an Error Quote or insufficient Free Margin necessary to initiate a Transaction. The Order will automatically be cancelled and subsequent complaints will be considered null.
The Client is unable to send a command due to internet connection, manifest errors or error from the Trading Platform software and hardware of either party.
The Server liquidates any or all of the Client’s Open Positions due to an Error Quote, Manifest Error, malfunction or misuse of the Trading Platform.
If clause 2.3 (VI) is breached as a consequence of a dispute involving another order, position or transaction, the Broker will pay the Client the difference between the value of closing the Open Position at the actual close price and the value of closing the Open Position at the Quote if the latter initiates a Dispute resolution process.
Clients may initiate a Dispute Resolution process if the Broker executes an Order at a price that differs from that displayed to the Client (according to section 2.3)
The Broker may initiate a Dispute Resolution process if the Broker debits/credits the Customer’s Trading Account incorrectly, with the difference between the actual execution price and the value of the price at which the Order should have been executed.
Client Trading Account Information
The Broker will confirm the transaction after the Client fulfils the order and will notify the Client of the confirmation via their client account. Confirmations are conclusive and binding. If the Broker does not confirm an order, it will not affect the validity of the transaction.
The Client's trading account data will be published in the client's terminal. This data is available to the Client to create daily and monthly reports on account activities and transactions.
Trading account information will be available 24 hours after a client's activity. Updating the client's trading account information is taken as express confirmation.
The Broker reserves the right to delete or edit all trading account data at our request. Trading account information published on the client's terminal is considered proof of the client's transaction unless it proves to be incorrect.
The client agrees that the Broker is not obligated to submit transaction confirmations other than through the client's terminal.
Due to slow internet speed, delays and errors in price feeds, the prices displayed on the Trading Platform may not always provide a fully accurate reflection of the current market rates of the underlying asset. The concept of arbitrage cannot exist in the over-the-counter market. The Broker also does not allow this practice through the platform. This excludes disqualifying all transactions that result from arbitration options. Invoices that use an arbitration strategy require Broker intervention and order approval. In the event of a conflict due to a quote or execution error, the Broker reserves the exclusive right to resolve the issue if necessary. The Broker is not obligated to notify the Client in the above cases and may act according to market conditions.
The Client agrees that the Broker and its affiliates will not be liable for any loss, damage or expense the Client incurs in connection fraud or negligence through their use of the Broker’s Services.
If the Client is found to be committing fraudulent activities, the Broker has the right to close, suspend and investigate the client’s account, as well as charge penalty fees equal/to the Client’s profits resulting from usage of aforementioned techniques.
If the client is found to be employing methods to trade and/or place trade orders where idle prices have been ‘struck’, ‘stuck’, ‘frozen’ and/or ‘skewed’, the Broker has the right to close, suspend and investigate the client’s account, as well as charge penalty fees equal/to the Client’s profits resulting from usage of aforementioned techniques.
The Broker may not access, attempt to access, or otherwise circumvent the security measures of the CedarFX Trading Platform.
The Broker prohibits the following actions:
Use of software that implements artificial intelligence analytics on the Broker's systems and platforms
The deliberate damage, influence, or modification of Broker communications not intended for Client
The use of tools such as spiders, worms, Trojan horses, time bombs, or other code or instructions designed to damage or modify the trading platform or other systems the Broker owns.
The sending of unauthorized commercial communications not requested by the Broker.
Use of ‘struck’, ‘stuck’, ‘frozen’ and/or ‘skewed’ prices to illicitly gain an advantage that was not permitted nor intended for the client.
By accessing the Broker Website, registering an account on CedarFX, or using services offered by our Third-Party Payment Providers, the Client expressly agrees to accepting and adhering to all terms contained herein.
The features available on the Broker website depend on the Client’s country of residence. It is the Client’s responsibility to ensure that the activities on the website comply with the regulations enforced in their country of residence.
CedarFX operates within the laws and regulation of St Vincent and the Grenadines. By using the Broker services, the Client agrees that to submit to the jurisdiction of the courts of St Vincent and the Grenadines and that all proceeding will be determined exclusively by the latter party. The Client agrees to waive any objection to any proceedings being brought forward in the courts of St Vincent and the Grenadines and to not claim that such proceedings have been passed on through an inconvenient medium, or that the Court lacks jurisdiction over the Client.
Client Trading Accounts
When opening a trading account, the Client accepts the risks associated with trading CFDs, including:
Market swings in price value may result in sharp losses, even leading to positions becoming devoid of value.
Opening any position may lead to loss of Client funds
Cryptocurrency and Bitcoin trading may include further risks described in the Risk Disclosure agreement provided by CedarFX.
By registering an account on the Broker's website, the Client confirms that they are at least 18 years of age and are legally able to agree to these terms on their own behalf
The Client agrees to provide the Broker with their current email address for account confirmation.
If maintenance is required, the Broker will endeavour to notify customers of interruptions in access to the service. In the case of an emergency update, the Client accepts that advance notice is not always possible.
The Client agrees that all funds received from their Bitcoin wallet are proprietary and that they will not attempt to access any third-party Bitcoin under any circumstances.
The Client acknowledges that any attempt or assistance to a third party to create or use an account without the express permission of the Broker may result in the suspension of their account and further action at the discretion of the Broker.
It is the Client’s responsibility to maintain the confidentiality of their account. The Broker is not responsible for leaked information, passwords, business information or other information stored in the Client’s profile. In the event of suspicious activity, the Broker may request a document to authenticate the Client. If a Client does not comply with an identity authentication request, the Broker may freeze or terminate their account.
The Client is obliged to notify the Broker immediately in the event of unauthorized use, account access, or other security breaches.
The Client agrees to not use the platform for any criminal activity, including malicious hacking, illegal gambling, terrorism, fraud, or money laundering.
The Broker has the right to limit, suspend or terminate the Client’s account and their access to the Broker Website with due notice. These measures may be taken if the Client engages in illicit activities through the website, attempts to bypass the security features on the website, attempts the unauthorised access of other accounts or of the website itself, or on a Government Agencies’ or Law Enforcement Bodies’ request.
In case of termination, the Client will need to provide details of a valid account to transfer any funds in their CedarFX account. The Broker will notify the Client of the balance within their CedarFX account and, if possible, disclose charges that will be rendered in the transfer. The Client acknowledges that they may be charged certain fees upon receipt of their CedarFX account balance.
The Client reserves the right to close their account and terminate the contract with the Broker at any time.
The Broker’s services are without warranty. The Client is not guaranteed to have access to services 24 hours a day, 7 days a week.
Communication and Content
The Broker is not responsible for external websites that clients may access through the Broker website. The Broker is not liable for any damages, losses or errors arising out of the content and/or activity of any third-party websites and the Broker does not verify or endorse any third-party websites or the content thereof.
Any websites accessed through the Broker Website are subject to their Terms & Conditions and it is up to the Client to review them when making use of their services.
The Client is responsible for ensuring that their assets are protected from viruses, worms, Trojan horses, or other destructive elements when they visit external sites.
The Broker will not be held liable for any unsecure emails or any damages resulting from email send-outs.
Content created or referred to by the Broker is not financial advice related to the services provided through the Broker website.
Any trading activities are the Client’s sole responsibility and the Broker shall not be liable for any loss based on the information provided by the Broker.
The Broker will not share Client data with third parties unless requested by law enforcement, data protection authorities, government agencies, or other public authorities in the following cases:
Court summons, high court writ, court order, or other legal procedures;
Prevention of physical harm or financial loss;
On suspicion of illegal activity;
On investigation of suspected violation of the Broker’s Terms & Conditions or other policies.
Neither CedarFX nor its subsidiaries, directors, employees or agents shall be liable for any loss, damage or expense resulting from access to or use of the Broker website or related sites, including but not limited to loss of profits, indirect, accidental or consequential loss.
All comments, suggestions, graphics, ideas (including product and advertising ideas), and other information or materials you submit to CedarFX through the Broker Website will become and remain the exclusive property of the Broker. The Client submits any proprietary rights through such submissions and acknowledges CedarFX’s unrestricted right to use them in any medium or capacity, without notice or confidentiality.
Communication and Content
The Broker will not be liable for any damages, losses, injuries or deaths incurred by use of the Platform, unless such damages or losses are the result of direct negligence, fraud or deceit on the part of the Broker.
The information included in this document does not exclude or limit the liability of the Broker or the Client for fraud, death or personal injury resulting from negligence, breach of Terms & Conditions or other liability that is not limited or excluded by law.
Liability regarding claims connected to or emerging from the Client’s activity on the Broker website (through contract, tort or other) shall not exceed the total value of the Client’s CedarFX account (excluding commissions), or 125% of the transactions that are the subject of the claim (excluding commissions).
The Client agrees, to the full extent of the law, to compensate the Broker and its partners for any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred directly or indirectly from using the Broker Website, the services of CedarFX, or from violating these Terms & Conditions.