General Terms and Conditions
WealthBizzTradeFX Group
Version 3.0.0, published on 7 May 2024.
In reviewing this document, you will see that some text is coloured,
▪ clauses in black apply to all WealthBizzTradeFX Clients;
▪ clauses in blue only apply to BAM Clients as described below;
▪ clauses in green only apply to WealthBizzTradeFX GmbH Clients as described below.
1. Scope of the General Terms and Conditions
1.1 The general terms and conditions herein ("Group TC") shall be applicable to the overall business relation between WealthBizzTradeFX (as defined below) and its clients, with/on any online or electronic platform (e.g. https://www.bitpanda.com) or mobile application of WealthBizzTradeFX and associated Application Programming Interfaces ("API") of such platform or application (each a "WealthBizzTradeFX System").
2. General Provisions
2.1 In the following, "WealthBizzTradeFX" or "we" has the meaning WealthBizzTradeFX GmbH, WealthBizzTradeFX Metals GmbH, WealthBizzTradeFX Financial Services GmbH and WealthBizzTradeFX Payments GmbH, each with its corporate seat in A-1020 Vienna, Stella-Klein-Löw Weg 17, and WealthBizzTradeFX Assets Management GmbH (“BAM”) with its corporate seat at Dircksenstraße 4, 10179 Berlin, Germany, Germany, and any other Affiliate ("WealthBizzTradeFX" or "we").
2.2 In the following the term "WealthBizzTradeFX Client" means all clients who have created a WealthBizzTradeFX Client Account according to point 5.1 of these Group TC ("WealthBizzTradeFX Client").
2.3 In the following the term "BAM Client" means a WealthBizzTradeFX Client who (i) has successfully registered their WealthBizzTradeFX Client Account according to point 5.1 or 5.2 of these Group TC after 24 November 2022 and (ii) has at this time their principal residency (in case of a natural person) in Germany or centre of main interest (in case of legal entities) in Germany ("BAM Client").
2.4 In the following the term "WealthBizzTradeFX GmbH Client" has the meaning of all WealthBizzTradeFX Clients that are who are not explicitly referred to otherwise in these Group TC or Affiliate TC and that are not BAM Clients ("WealthBizzTradeFX GmbH Client").
2.5 For entering into a contractual relationship with and providing services to persons who are residents of certain countries, WealthBizzTradeFX GmbH may establish branch offices (“Zweigniederlassungen”). The WealthBizzTradeFX Group TC referred to herein shall also apply to WealthBizzTradeFX GmbH Clients contracting via such branch offices. Such branch offices are:
2.5.1 For WealthBizzTradeFX GmbH Clients residing in Sweden, WealthBizzTradeFX GmbH Swedish Filial, with its corporate address in Poststugan 3045, 211 65 Malmö, Sweden, registered with the Swedish Companies Registration Office (Sw. Bolagsverket) under Company Registration Number (Sw: Organisationsnummer) 516412-7168;
2.5.2 For WealthBizzTradeFX GmbH Clients residing in Italy, WealthBizzTradeFX GmbH Branch, with its corporate address in Via del Lauro 9, , 20121 Milan (MI), Italy, registered with the Italian companies register under MI2632104; and
2.5.3 For WealthBizzTradeFX GmbH Clients residing in the Czech Republic, WealthBizzTradeFX GmbH Branch , with its corporate address in Jindřišská 937/16, Nové Město, Praha, Hlavní město Praha, 11000, 500054 - Praha 1, CZ0100 - Praha, registered with the Czech Ministry of Industry and Trade under 11716584.
2.6 In the following, the term "WealthBizzTradeFX Consumer Client" has the meaning of a WealthBizzTradeFX Client who is "consumer" and "WealthBizzTradeFX Business Client" has the meaning of a WealthBizzTradeFX Client who is a "trader" as defined in the Austrian Consumer Protection Act ("KSchG"). If you are a WealthBizzTradeFX Business Client the provisions in Annex V will supplement, amend, and change certain provisions of these Group TC.
2.7 For an overview of the definitions used in these Group TC please refer to Annex I.
3. Amendments to the Group TC
3.1 Material Changes (as defined below in section 3.2) to the Group TC, including this point, require the explicit or implied agreement between WealthBizzTradeFX and the WealthBizzTradeFX Client.
3.2 Material Changes are any changes or amendments (i) with respect to the primary obligation (Haupleistungspflicht) or (ii) that significantly alter the contractual relationship in a way that they tantamount to the conclusion of a new agreement. For instance (without being limited thereto), any changes or amendments to payment obligations of the WealthBizzTradeFX Client, restrictions for the WealthBizzTradeFX Client with regard to the acquisition and disposal of financial instruments or any restrictions of the obligation on WealthBizzTradeFX Systems to take into custody (verwahren), administer (verwalten) or secure (sichern) crypto-assets or cryptographic private keys for the WealthBizzTradeFX Client, would qualify as such Material Changes.
3.3 Other changes or Editorial Changes (as defined in sections 3.5 and 3.6) to the Group TC which do not qualify as Material Changes, may be made in the reasonable discretion of WealthBizzTradeFX at any time and become effective
3.3.1 if no specific effective date is indicated: at the earlier of (i) the WealthBizzTradeFX Client explicitly accepting the amended Group TC (for example on WealthBizzTradeFX Systems) or (ii) two months having passed after the publication of such changes or amendments on WealthBizzTradeFX Systems, subject to the WealthBizzTradeFX Client not objecting under point 3.4; respectively
3.3.2 if a specific effective date (after the publication date) is indicated: at the later of (i) the specified effective date and the (ii) earlier of (a) the WealthBizzTradeFX Client explicitly accepting the amended Group TC (for example on WealthBizzTradeFX Systems) or (b) two months having passed after the publication of such changes or amendments on WealthBizzTradeFX Systems, subject to the WealthBizzTradeFX Client not objecting under point 3.4.
3.4 The WealthBizzTradeFX Client's consent to Other Changes shall be deemed granted if the WealthBizzTradeFX Client doesn't object in textform or electronically (e.g. by e-mail or via the WealthBizzTradeFX Client Account). In the amendment offer, the WealthBizzTradeFX Client is informed that (i) its silence by failing to object in writing or electronically (e.g. by e-mail or via the WealthBizzTradeFX Client Account), within the deadline as set out in points 3.3.1 or 3.3.2, shall be deemed as consent to the amendments, as well as that (ii) the WealthBizzTradeFX Consumer Client shall have the right to terminate its contract and the services agreed under the contract without notice until the amendments take effect.
3.5 Other changes, which do not qualify as Material Changes, may only be made in WealthBizzTradeFX‘s reasonable discretion and for good reason and provided that a risk assessment has been carried out with due consideration of the interests of WealthBizzTradeFX or the entirety of WealthBizzTradeFX Clients versus the interests of an individual WealthBizzTradeFX Client, i.e.
3.5.1 due to the offering of new services, which are either free of charge or may not or only optionally be utilised by the WealthBizzTradeFX Client;
3.5.2 there are no disadvantages to the WealthBizzTradeFX Client
3.5.3 due to regulatory, legal or tax law requirements;
3.5.4 due to the change of service providers or contractors;
3.5.5 due to the need to have consistent Group TC due to WealthBizzTradeFX’s international expansion;
3.5.6 the amendment or implementation of secondary obligations; or
3.5.7 any reasons comparable to the ones described above.
3.6 Editorial Changes are changes to clarify unclear provisions, adjustments to formats or fonts.
4. Overview of the Services of WealthBizzTradeFX
4.1 WealthBizzTradeFX GmbH Services: WealthBizzTradeFX GmbH with its corporate seat in A-1020 Vienna, Stella-Klein-Löw Weg 17, registered with the commercial register of the commercial court Vienna under FN 569240 v ("WealthBizzTradeFX GmbH") offers for WealthBizzTradeFX Clients on WealthBizzTradeFX Systems inter alia WealthBizzTradeFX Wallet and Custodial Services, as described in more detail in point 6 of the WealthBizzTradeFX GmbH & BAM TC.
4.2 WealthBizzTradeFX GmbH Services: WealthBizzTradeFX GmbH offers for WealthBizzTradeFX GmbH Clients on WealthBizzTradeFX Systems additionally inter alia the following services:
4.2.1 WealthBizzTradeFX Platform Services, as described in more detail in point 10 of these Group TC.
4.2.2 WealthBizzTradeFX Broker Services, as described in more detail in point 4 of the WealthBizzTradeFX GmbH & BAM TC.
4.2.3 WealthBizzTradeFX Savings Plan, as described in more detail in point 5 of the WealthBizzTradeFX GmbH & BAM TC.
4.2.4 WealthBizzTradeFX Wallet and Custody Services, as described in more detail in point 6 of the WealthBizzTradeFX GmbH & BAM TC.
4.2.5 WealthBizzTradeFX Index, as described in more detail in point 8 of the WealthBizzTradeFX GmbH & BAM TC.
4.2.6 WealthBizzTradeFX Card, as described in more detail in point 9 of the WealthBizzTradeFX GmbH & BAM TC.
The general terms and conditions of WealthBizzTradeFX GmbH (set out under https://www.bitpanda.com/en/legal/bitpanda-general-terms-conditions "WealthBizzTradeFX GmbH & BAM TC") apply to services provided by WealthBizzTradeFX GmbH in addition to these Group TC.
4.3 BAM Services: WealthBizzTradeFX Assets Management GmbH with its corporate seat at Dircksenstraße 4, 10179 Berlin, Germany ("BAM") is a financial service provider that is based in Germany that provides its services for BAM Clients from Germany and is regulated by the Bundesanstalt für Finanzdienstleistungsaufsicht ("BaFin").
4.4 BAM offers for BAM Clients on WealthBizzTradeFX Systems inter alia the following services:
4.4.1 WealthBizzTradeFX Platform Services, as described in more detail in point 10 of these Group TC.
4.4.2 WealthBizzTradeFX Broker Services, as described in more detail in point 4 of the WealthBizzTradeFX GmbH & BAM TC.
4.4.3 WealthBizzTradeFX Savings Plan, as described in more detail in point 5 of the WealthBizzTradeFX GmbH & BAM TC.
4.4.4 WealthBizzTradeFX Wallet and Custodial Services, as described in more detail in point 6 of the WealthBizzTradeFX GmbH & BAM TC.
4.4.5 WealthBizzTradeFX Index, as described in more detail in point 8 of the WealthBizzTradeFX GmbH & BAM TC.
The general terms and conditions of BAM (set out under https://www.bitpanda.com/en/legal/bitpanda-general-terms-conditions "WealthBizzTradeFX GmbH & BAM TC") apply to services provided by BAM in addition to these Group TC.
4.5 WealthBizzTradeFX Metals Services: WealthBizzTradeFX Metals GmbH offers on WealthBizzTradeFX Systems inter alia the purchase and sale of physically vaulted precious metals such as, but not limited to, gold, silver, palladium and platinum in the form of M-Token (as defined in the Metals TC). The general terms and conditions of WealthBizzTradeFX Metals GmbH (set out under https://www.bitpanda.com/en/legal/bitpanda-metals-gmbh-general-terms-conditions "Metals TC") apply to services provided by WealthBizzTradeFX Metals GmbH in addition to these Group TC.
4.6 WealthBizzTradeFX Financial Services: WealthBizzTradeFX Financial Services GmbH offers on WealthBizzTradeFX Systems financial services inter alia with regard to the acceptance and transmission of orders of A-Token and L-Token (as defined in the Financial Services TC) pursuant to section 1 (3) item a of the Securities Supervision Act 2018 (Wertpapieraufsichtsgesetz 2018 "WAG"). The general terms and conditions of WealthBizzTradeFX Financial Services GmbH (set out under https://www.bitpanda.com/en/legal/general-terms-conditions-bitpanda-financial-services "Financial Services TC") apply to services provided by them in addition to these Group TC and/or the CFD Framework Agreement Long / Short.
4.7 WealthBizzTradeFX Payments Services: WealthBizzTradeFX Payments GmbH offers on WealthBizzTradeFX Systems, inter alia the issuance and redemption of e-money and certain payment services. The general terms and conditions of WealthBizzTradeFX Payments GmbH (set out under https://www.bitpanda.com/en/legal/bitpanda-payments-terms-conditions "Payments TC"; the WealthBizzTradeFX GmbH & BAM TC, the Metals TC, Financial Services TC and Payments TC together the "Affiliate TC") apply to services provided by them in addition to these Group TC.
4.8 Overview. An overview of the services and the respective service provider on WealthBizzTradeFX Systems, you will find in Annex IV to this Group TCs.
5. Becoming a WealthBizzTradeFX Client
5.1 WealthBizzTradeFX Client Account | WealthBizzTradeFX Client. In order to use WealthBizzTradeFX Systems and services you must first create a user account ("WealthBizzTradeFX Client Account") by registering your details and providing WealthBizzTradeFX with valid, correct and up-to-date information, such as your name (first and surname), e-mail address and a password, in the registration process. A person having successfully completed the registration process (which is confirmed by WealthBizzTradeFX) is called a "WealthBizzTradeFX Client" or "you".
5.2 WealthBizzTradeFX Business Account. Legal entities interested in using WealthBizzTradeFX Systems have to create a user account ("WealthBizzTradeFX Business Account") by registering on a WealthBizzTradeFX System and providing WealthBizzTradeFX with valid, correct and up-to-date information, such as their entity name (legal name), e-mail address and a password, in the registration process. A legal person having successfully completed the registration process (which is confirmed by WealthBizzTradeFX) is called a "WealthBizzTradeFX Business Client" or "you". Annex V contains additional details and provisions for WealthBizzTradeFX Business Clients.
5.3 Client Verification Process and Verification Deposit. In order to use the trading options on a WealthBizzTradeFX System or other services provided by WealthBizzTradeFX, you, as a WealthBizzTradeFX Client, have to verify your WealthBizzTradeFX Client Account ("Client Verification Process"). The duration, steps and requirements of the Client Verification Process depend on security requirements, in particular Anti Money Laundering considerations, and may change from time to time depending on the legal framework and technical developments. At any time during the Client Verification Process, WealthBizzTradeFX may request additional information and documents necessary to complete the Client Verification Process.
5.4 Up-to-date and complete information. You confirm that any document and information that you provide WealthBizzTradeFX with, is up-to-date, correct and complete and that you have not withheld any information that could potentially influence the Client Verification Process (e.g. you confirm that you have not withheld any information that could potentially trigger any further due diligence).
5.5 Information requirements. WealthBizzTradeFX will request specific information from you or ask you to provide documents or other evidence in the process of becoming a WealthBizzTradeFX Client and from time to time for as long as you remain a WealthBizzTradeFX Client, which are required by law or authority guidelines (e.g. FMA or BaFin Guidelines). Such information are for example:
5.5.1 For natural persons: copies of official identity documents with a photograph and biometric data (for further information see our privacy policy https://www.bitpanda.com/en/legal/bitpanda-privacy-policy) (in notarised and apostilled form, if requested by WealthBizzTradeFX);
5.5.2 For legal person: excerpts from the company register, excerpts from the beneficial owner register, certificates of incorporation, founding documents or equivalent documents (in notarised and apostilled form if requested by WealthBizzTradeFX).
5.6 No Acceptance Guarantee. There is no guarantee that a specific person can successfully complete the Client Verification Process and thus become a WealthBizzTradeFX Client even if the relevant WealthBizzTradeFX Client has provided all information requested by WealthBizzTradeFX. The reasons for this may include, but are not limited to, legal restrictions or economic considerations. WealthBizzTradeFX may refuse to further continue the Client Verification Process, in which case, this person cannot successfully pass the Client Verification Process.
6. WealthBizzTradeFX Client Account, Acting in own name
6.1 Prohibition of double accounts. WealthBizzTradeFX Systems allow only one WealthBizzTradeFX Client Account per WealthBizzTradeFX Client. Double accounts are forbidden. Should another account (the "Double-Account") be created in addition to your first account (the "Original-Account"), the following applies: WealthBizzTradeFX has the right to block the Double-Account and keep it locked. Assets which are deposited on the Double-Account will be transferred by WealthBizzTradeFX to the WealthBizzTradeFX Client's Original-Account provided that the WealthBizzTradeFX Client can prove (for example via the identification service used by WealthBizzTradeFX) to WealthBizzTradeFX's satisfaction that he/she is the creator and owner of both the Double-Account and Original-Account. In such cases, if the WealthBizzTradeFX Client is at fault, WealthBizzTradeFX may charge an administrative fee of EUR 5.00. The WealthBizzTradeFX Client is permitted to prove that no damage has occurred and therefore no or lower administration costs have been incurred WealthBizzTradeFX may waive the prohibition of Double-Accounts with regard to certain services offered by WealthBizzTradeFX's partners that use WealthBizzTradeFX Systems to perform digital asset services to its clients and require the opening of a Double-Account.
6.2 Prohibition of shared accounts. Shared accounts are forbidden.
6.3 No transfer of accounts. You may not transfer your WealthBizzTradeFX Client Account (neither by sale, donation or otherwise) to any other person.
6.4 No transfer of rights. You may not assign or transfer any of the rights under the Group TC, the Affiliate TC or in relation to the assets deposited on WealthBizzTradeFX Systems to any third party without the prior explicit consent of WealthBizzTradeFX. This does not apply to a) monetary claims of the WealthBizzTradeFX Client against WealthBizzTradeFX and b) to claims of a WealthBizzTradeFX Client when WealthBizzTradeFX has no protection-worthy interest in the exclusion of assignment or (c) the WealthBizzTradeFX Client’s legitimate interests in the transferability outweigh WealthBizzTradeFX's protection-worthy interest in the exclusion of transferability.
6.5 Single payment service provider account rule. Any payment service provider account (e.g. bank account) may only be associated with one WealthBizzTradeFX Client Account and, consequently, one single WealthBizzTradeFX Client ("Client Bank Account"). The name of the account holder of the Client Bank Account must match the name of the WealthBizzTradeFX Client attached to the respective WealthBizzTradeFX Client Account. The same applies to credit cards and any other means of payment used in connection with the WealthBizzTradeFX Systems.
6.6 Acting solely in your own name and behalf. You act in your own name and for your own account and create and use a WealthBizzTradeFX Client Account for yourself only. It is forbidden to act as an intermediary of any kind or broker of any kind or trustee of any kind for any person (including shared legal or beneficial ownership of the WealthBizzTradeFX Client Account or any assets deposited within your WealthBizzTradeFX Client Account) or to allow access of any kind to the WealthBizzTradeFX Client Account to any person other than yourself.
6.7 Exceptions to point 6.1. In certain cases (e.g., the client being a legal person) WealthBizzTradeFX may allow or request that the client creates an additional or separate account on behalf of a natural person or legal person after (i) providing sufficient evidence and other documents as requested by WealthBizzTradeFX, (ii) careful consideration/assessment from WealthBizzTradeFX's compliance department, and (iii) obtaining specially granted approval of the responsible WealthBizzTradeFX bodies.
6.8 Address Changes. You have to ensure that the contact information (e.g. e-mail address, postal address) in your user profile is current and accurate. For as long as you do not notify WealthBizzTradeFX about a new e-mail address or mailing/postal address, any communication from WealthBizzTradeFX will be sent to the previous e-mail address or mailing/postal address. Notices delivered to the previous address shall be deemed delivered to the WealthBizzTradeFX Client, if WealthBizzTradeFX was neither (i) aware of any changes to the e-mail address or mailing/postal address; nor (ii) unaware of such an amendment due to gross negligence of WealthBizzTradeFX.
7. WealthBizzTradeFX Client Restrictions
WealthBizzTradeFX does not enter into any transactions with the following persons, does not accept them as a WealthBizzTradeFX Client and no such person may register a WealthBizzTradeFX Client Account or use any of the WealthBizzTradeFX Systems:
7.1 Persons younger than 18 years or (if higher) the legal age required to become a WealthBizzTradeFX Client and/or use WealthBizzTradeFX Systems in accordance with the laws applicable to that person.
7.2 Persons and entities from the United States or a country that is subject to economic sanctions by the United Nations, the European Union, the United States or the United Kingdom, being:
7.2.1 persons with a citizenship of such country;
7.2.2 persons having their residence in such country;
7.2.3 corporations, partnerships and other entities established or organised in or under the laws of such country; or
7.2.4 any trust or estate subject to such country.
7.3 Persons, which are or have been subject to any of the measures mentioned in point 12.2.
7.4 WealthBizzTradeFX may, in addition, at any time exclude any person or jurisdiction from its services.
8. Security Measures, Loss of Password, Recovery, Deposit and Withdrawal Limit
8.1 Two factor Authentication. As a preventive security measure, WealthBizzTradeFX recommends that each WealthBizzTradeFX Client uses the two-factor authentication identification ("2FA") on WealthBizzTradeFX Systems. By using the 2FA, verification with a second factor - e-mail, SMS or push notification – ("2F") in addition to the password will be required [certain transactions relating to the services of WealthBizzTradeFX Payments GmbH must be approved by 2FA].
8.2 No disclosure of passwords. You may not disclose your password and/or 2F to any third party.
8.3 Password | Loss or theft of 2FA. Any person having access to your username and password and – if you use the 2FA – your 2F may have full access to your WealthBizzTradeFX Client Account and may affect transactions in your name which may not be reversible. Therefore, in case of theft of your password or loss or theft of the 2F, you must notify WealthBizzTradeFX about this loss or theft and follow WealthBizzTradeFX's instructions immediately as you become aware of it.
8.4 Password Reset. When a password is reset, WealthBizzTradeFX pauses any transactions to or from your Wallets only for security reasons for a maximum period of 48 hours. This serves as a protection measure to mitigate the effects of unauthorised access to your WealthBizzTradeFX Client Account by resetting the password and applies to all cases of password resets as WealthBizzTradeFX cannot tell whether the password reset was initiated by you or a unauthorised person (e.g. a scammer).
8.5 Recovery. WealthBizzTradeFX does not store or have control over your 2F. If you are unable to find/recover your 2F after losing it (e.g. losing your cell phone), you will need to contact the WealthBizzTradeFX support team for security reasons before you can access your WealthBizzTradeFX Client Account again. In order to ensure that no unauthorized person can gain access to your WealthBizzTradeFX Client Account and thus your Wallet in this way, the WealthBizzTradeFX support team will request documents and proof (e.g. by presenting a bank transfer order to the relevant WealthBizzTradeFX Client Account and proof of your identity by presenting an official photo ID) which, in view of the individual case, appear sufficient for the WealthBizzTradeFX support team to confirm your identity as well as the legitimacy of the request. For security reasons, WealthBizzTradeFX does not disclose in advance any details regarding the scope and content of this request. Therefore, in the event of the loss of your 2F, your active cooperation will be required and until the processes described in this point are completed, your WealthBizzTradeFX Client Account, including all assets and funds, cannot be disposed of.
8.6 Deposit and Withdrawal Limit. To deposit money that is legal tender into your WealthBizzTradeFX Client Account, you must (i) enter all required data (e.g. deposit amount) on the WealthBizzTradeFX systems and (ii) select the "continue" button. There are limits to the withdrawal and deposit of legal tender. To withdraw F-Token / E-Money from your WealthBizzTradeFX Client Account, you must (i) enter all required data (e.g. recipient name, IBAN) on WealthBizzTradeFX-Systems and (ii) select the "create" button. You may not be able to request a withdrawal if your funds are yet to be settled. WealthBizzTradeFX may impose a withdrawal holding period up to 7 (seven) days after deposit . During this period, your F-Token / E-Money funds will not be eligible for withdrawal, and no crypto withdrawal requests may be initiated. .The deposit and withdrawal limits are set out on https://www.bitpanda.com/en/limits.
9. Obligations to act and cooperate on the part of the WealthBizzTradeFX Client
You, as a WealthBizzTradeFX Client, shall:
9.1 ensure prompt execution of any contracts (Verträge) and declarations (Erklärungen) and render forthwith any assistance required and reasonably requested by WealthBizzTradeFX in the course of making available to you the services on WealthBizzTradeFX Systems.
9.2 immediately report all defects or other problems with WealthBizzTradeFX Systems or transactions associated therewith which you either cause or are aware of and shall support WealthBizzTradeFX in remedying the problem, in accordance with WealthBizzTradeFX's guidance and to the extent reasonable possible.
9.3 state your principal residency (Hauptwohnsitz) during the Client Verification Process.
9.4 without undue delay update via a WealthBizzTradeFX System or notify WealthBizzTradeFX about any changes to your personal data (name, mailing/postal address, principal residency (Hauptwohnsitz) or e-mail address). The same applies if you notice that – for whatever reason – your personal information displayed on WealthBizzTradeFX Systems does not conform with the documents and information provided by you to WealthBizzTradeFX (for example if you notice that your name is spelled differently on your passport than on WealthBizzTradeFX Systems).
9.5 shall take all reasonable precautions to protect the passwort against unauthorised access.
9.6 at all times ensure that you have your 2F available and in usable condition and that only you have access to your 2F (provided you use the 2FA).
9.7 provide WealthBizzTradeFX with any reasonable data and/or information with regard to proof of origin of funds (such as banking statements or any other details provided by banks or financial institutions, contracts of sales or contracts in general, or any other suitable data) that WealthBizzTradeFX requires in order to provide its services to you and that is not unreasonable for the WealthBizzTradeFX Client to provide. The documents and data you submit are subject to verification by WealthBizzTradeFX. WealthBizzTradeFX will verify your documents as quickly as possible.
9.8 notify WealthBizzTradeFX without undue delay about any loss or restriction of your capacity to contract, as far as this is possible and reasonable.
10. WealthBizzTradeFX Platform Services
10.1 WealthBizzTradeFX Platform. After having successfully registered a WealthBizzTradeFX Client Account in accordance with point 5.1, a WealthBizzTradeFX Client may log in to the WealthBizzTradeFX Systems and access the platform operated by WealthBizzTradeFX ("WealthBizzTradeFX Platform").
10.2 Services until completion of the Client Verification Process. Prior to having successfully completed the Client Verification Process a WealthBizzTradeFX Client can neither execute any trades or other transactions nor receive or hold any assets on WealthBizzTradeFX Systems or receive other services from WealthBizzTradeFX. Such WealthBizzTradeFX Client may only see certain information available on the WealthBizzTradeFX System (e.g. graphically presented exchange rates of individual digital assets).
10.3 Services after successful completion of the Client Verification Process. After having successfully completed the Client Verification Process, a WealthBizzTradeFX Client has – subject to the Group TC and any applicable Affiliate TC – access to all services provided on the WealthBizzTradeFX Systems, such as information services, custodial services and broker services. Whether specific services (e.g. trading with derivatives) are available to a WealthBizzTradeFX Client depends on further factors (e.g. the personal risk profile of a WealthBizzTradeFX Client).
11. Ordinary termination rights
WealthBizzTradeFX Consumer Client's termination rights. Except where the Group TC or Affiliate TC set out different notice periods, a WealthBizzTradeFX Consumer Client may terminate the WealthBizzTradeFX Client Account and any other transactions and business relations by giving two weeks' notice. The foregoing does not affect the WealthBizzTradeFX Consumer Client's right to terminate at no charge by reason of an amendment to any of the Group TC or Affiliate TC. Further, WealthBizzTradeFX – at its sole discretion – may accept an ordinary termination without giving notice (e.g. in case a customer withdraws all funds and deletes the WealthBizzTradeFX Client Account).
11.1 WealthBizzTradeFX's termination rights. Vis-à-vis WealthBizzTradeFX Consumer Clients WealthBizzTradeFX may at any time terminate all transactions and business relations concluded for an unspecified term by giving one month’ notice. Notice of termination must be given in paper form or on another durable data medium and communicated to the WealthBizzTradeFX Client.
12. Extraordinary termination rights / blocking and suspension of transactions
12.1 Termination for cause. WealthBizzTradeFX or a WealthBizzTradeFX Client may at any time, without a notice period and with immediate effect terminate the entire business relation or individual parts thereof for cause, which make any further performance of the business relation unacceptable.
12.2 Examination of the existence of cause. If any of the causes listed in section 12.3 are suspected, WealthBizzTradeFX shall conduct an objective and factual examination to determine whether the suspicions are substantiated and may block, freeze and/or suspend the WealthBizzTradeFX Client Account or any of its functions, temporarily or permanently (including rejecting any offer, deposit, withdrawal, trade, order or, other transaction or use of the WealthBizzTradeFX Service, suspending a transaction until approval and/or reversing a fiat transaction). Should it become apparent that a suspicious circumstance is justified, WealthBizzTradeFX shall be entitled to terminate the business relationship with the WealthBizzTradeFX Client with immediate effect and without further notice for cause and to close the WealthBizzTradeFX Client Account.
12.3 Causes. WealthBizzTradeFX may terminate the business relation with immediate effect and close your WealthBizzTradeFX Account or block, freeze, suspend your WealthBizzTradeFX Account, restrict or cancel transactions in particular, but not limited to the following causes:
12.3.1 WealthBizzTradeFX reasonably believes that a WealthBizzTradeFX Client is or has been convicted or accused of (including any reasonably documented media reports or market rumours on) any breach or violation of criminal, administrative or tax laws in any country of the world, e.g. fraud, terrorist financing, money laundering, tax fraud, being part of a Ponzi scheme of any kind, using matrix programs/pyramid programs/multi-level marketing or other high-risk business detrimental to customers, unlawful activity in any country of the world, forbidden gambling, intellectual property or proprietary rights infringement, counterfeit or unauthorised goods, using/distributing drugs and drug paraphernalia or substances designed to mimic illegal drugs, producing/distributing adult content and services.
12.3.2 official investigations (by any competent public authority, in particular, but not limited to, any public prosecutors in the field of criminal law or tax agents) against a WealthBizzTradeFX Client have been initiated or threatened with respect to any breach or violation of relevant criminal, administrative or tax laws in any country of the world.
12.3.3 WealthBizzTradeFX does so in order to comply with any (i) applicable law (in particular for anti-money-laundering purposes) or regulation, (ii) internal guidelines based on such law or regulation, (iii) any order or request by a court or other authority, or (iv) any applicable sanctions program.
12.3.4 a WealthBizzTradeFX Client has breached any of their obligations under the Group TC which are not otherwise mentioned in point 12.3 (e.g. any delayed payment) and has failed to cure such breach within 10 Business Days from the date of notification of such breach by WealthBizzTradeFX.
12.3.5 a WealthBizzTradeFX Client has breached any of the following rules of a payment service provider, including but not limited to:
12.3.5.1 you use the payment service providers services for illegal activities;
12.3.5.2 you provide incorrect and/or incomplete information or refuse to provide the required information, if such information is of material importance to the payment service provider;
12.3.5.3 you incur excessive chargebacks (claim against a charge, requesting a reversal of funds or transaction), reversals (any chargeback, refund, return or similar transaction event that would cause a reversal of payment) or experience excessive fraudulent activities against the payment service provider;
12.3.5.4 you did not log in to your account and perform transactions for more than 12 (twelve) months; or
12.3.5.5 you harass or engage in obscene, insulting or abusive behaviour against the payment services provider or any of its representatives.
12.3.6 a WealthBizzTradeFX Client harasses or engages in obscene, insulting or abusive behaviour against WealthBizzTradeFX's employees, agents or affiliates.
12.3.7 a WealthBizzTradeFX Client fails to fulfill his/her obligations with/of an Affiliate set out in section 4 of the Group TCs and has failed to cure such breach within 10 Business Days from the date of notification of such breach by WealthBizzTradeFX.
12.3.8 a WealthBizzTradeFX Client has opened more than one account with WealthBizzTradeFX or has shared his/her WealthBizzTradeFX Client Account with another person and has failed to cure such breach within 10 Business Days from the date of notification of such breach by WealthBizzTradeFX.
12.3.9 a WealthBizzTradeFX Client breaches the single payment service provider account rule (point 6.5 e.g. by using together with another WealthBizzTradeFX Client the same Client Bank Account to effect transfers from or to more than one single WealthBizzTradeFX Client Account or by using a bank account or credit card which is not in their name and has failed to cure such breach within 10 Business Days from the date of notification of such breach by WealthBizzTradeFX).
12.3.10 a WealthBizzTradeFX Client uses a WealthBizzTradeFX Client Account without legal entitlement to use such an account.
12.3.11 a WealthBizzTradeFX Client conceals their correct identity or origin of funds by providing incorrect, incomplete, outdated or misleading data to WealthBizzTradeFX or to a payment service provider.
12.3.12 a WealthBizzTradeFX Client materially breaches the rules of the Tell-a-Friend Program (set forth under point 18) or other promotion offered by WealthBizzTradeFX from time to time and does not cure the breaches within a grace period communicated to it by WealthBizzTradeFX (depending on the breach usually between 24 hours and 5 Business Days).
12.3.13 a WealthBizzTradeFX Client manipulates WealthBizzTradeFX Systems. Such manipulation is in particular any use of an automated system (e.g. bot) or any other tool or method which deviated from normal and typical trading behaviour of retail investors and, hence, indicates the involvement of a certain technology, software and/or any system automating such trading, except such use has been previously agreed in writing with WealthBizzTradeFX.
12.3.14 a WealthBizzTradeFX Client uses WealthBizzTradeFX Systems in such a way that leads to debit card chargebacks or credit card chargebacks.
12.3.15 a WealthBizzTradeFX Client conducts transactions in a way or uses WealthBizzTradeFX Systems in a way that causes damage, disadvantages or losses for WealthBizzTradeFX and/or impairs any WealthBizzTradeFX Service.
12.3.16 A WealthBizzTradeFX Client loses their legal capacity to act. The WealthBizzTradeFX Client Account and all transactions may be suspended until it is clarified who may dispose of the assets in accordance with applicable laws.
12.3.17 upon a WealthBizzTradeFX Client’s death (in case of natural persons). Once WealthBizzTradeFX has been notified of a death of a WealthBizzTradeFX Client and received proof of death in a sufficient form, the WealthBizzTradeFX Client Account will be suspended and blocked for security reasons, until the order of succession will be ascertained from a court having competent jurisdiction over the dead WealthBizzTradeFX Client's estate. The required steps will be communicated to the designated executor, respectively the heir(s). For security reasons, WealthBizzTradeFX does not disclose in advance any details regarding the scope and content of the required steps.
12.4 Notice of extraordinary termination. In cases of an extraordinary termination by WealthBizzTradeFX, WealthBizzTradeFX shall provide you with notice of such termination per email, unless it would be unlawful for WealthBizzTradeFX to do so. WealthBizzTradeFX is not obligated to disclose to you any findings or information acquired by WealthBizzTradeFX's security and risk management procedures.
12.5 Suspension lifting. Should your WealthBizzTradeFX Client Account be locked or your access suspended, WealthBizzTradeFX will lift the lock or freeze or complete the transaction once such reasons no longer exist. However, WealthBizzTradeFX is under no obligation to allow you to conduct a transaction at the same price or on the same terms as the suspended, reversed or blocked transaction.
12.6 Compensation fee. If WealthBizzTradeFX is engaged by you to remedy a declared and/or alleged deficiency and it is proven that no deficiency exists, existed or that the deficiency is or was in your sphere, WealthBizzTradeFX is entitled to charge a compensation fee for any expense made by WealthBizzTradeFX in connection with investigating the alleged deficiency, if the WealthBizzTradeFX Client is at fault and as far as such compensation fees are necessary to cover adequate costs of WealthBizzTradeFX to administer such alleged deficiency, but maximum EUR 50.00. The WealthBizzTradeFX Client is permitted to prove that no damage has occurred and therefore no or lower administration costs have been incurred.
12.7 Garnishment of a WealthBizzTradeFX Client's assets. In the event of garnishment of a WealthBizzTradeFX Client's assets, WealthBizzTradeFX may be obliged to dispose of the WealthBizzTradeFX Client's assets in accordance with the instructions of the competent court, administrator or authorised person and/or to lock or restrict the WealthBizzTradeFX Client Account
13. Withdrawal, sale and legal deposit of assets
13.1 Withdrawal of assets. After the termination of the business relation, irrespective of whether the termination is affected by WealthBizzTradeFX or the WealthBizzTradeFX Client, the WealthBizzTradeFX Client is obliged to withdraw all assets or assets converted to funds by the expiry of the notice period at the latest. If the business relations are terminated extraordinarily according to point 12 of these Group TC, there is no notice period and the WealthBizzTradeFX Client has to withdraw all assets immediately unless funds are not available to withdraw in accordance with applicable regulations (e.g. compliance with sanctions, court orders etc.). The Client will be informed to close all open positions and withdraw all of the assets from their WealthBizzTradeFX Client Account. Each withdrawal is subject to prior full settlement of any outstanding receivables.
13.2 Sale and legal deposit. In the event that the WealthBizzTradeFX Client fails to do so, WealthBizzTradeFX will request the WealthBizzTradeFX Client to withdraw all their assets within two further months after the end of the notice period (“Transition Period”). Such sale or transfer of assets after termination of the business relation, is subject to the approval of WealthBizzTradeFX's compliance department. WealthBizzTradeFX may, after the expiry of the Transition Period and prior written notification to the WealthBizzTradeFX Client:
13.2.1 sell the remaining assets at the prevailing market prices and transfer the proceeds of the sale (after deduction of any applicable fees in connection with the sale) to the Client Bank Account; and/or
13.2.2 deposit the remaining assets in court at your expense. You will be informed about such deposit.
For the avoidance of doubt, WealthBizzTradeFX shall not be liable for any loss of profit resulting from such conversion.
13.3 Charges: Currently the usage of the WealthBizzTradeFX System itself is free of charge for WealthBizzTradeFX Clients. However, in case a person is no longer a WealthBizzTradeFX Client and refuses to transfer their assets within a time-period of 14 days after the business relation has ended, WealthBizzTradeFX is entitled to charge fees in the amount of 0.1% but maximum EUR 30.00 per month of the deposited sum for the usage of the WealthBizzTradeFX System.
14. WealthBizzTradeFX's Token System
14.1 WealthBizzTradeFX's Token System. WealthBizzTradeFX Systems use its own internal token classification system (F-Token, E-Token, M-Token, A-Token, L-Token, E-Money) which are booked in the respective storing sub-accounts (each a "Wallet") of the respective WealthBizzTradeFX Client Account. Only such Tokens booked in the respective Wallets in the WealthBizzTradeFX Client Account may and can be used for making a WealthBizzTradeFX Client Offer with respect to offering Token.
14.2 Classification of Token and Wallets. WealthBizzTradeFX uses its own, proprietary token classification scheme. Only E-Token constitute token which may be transferred and stored electronically, using distributed ledger technology or similar technology, while A-Token, M-Token, L-Token and F-Token do not incorporate such technology and solely exist as database entries on WealthBizzTradeFX Systems, maintained by WealthBizzTradeFX. E-Money constitutes e-money within the meanings of section 1 para 1 of the Austrian E-Money Act 2010 (E-Geldgesetz 2010) ("E-GeldG").
14.3 Storage E-Token. While E-Token are generally based on distributed ledger technology, they are stored in centralised wallets which are held and maintained by WealthBizzTradeFX together with other E-Token of other WealthBizzTradeFX Clients. The amounts of E-Token displayed in your Wallet are not individual wallet's on the relevant blockchain, but database entries maintained by WealthBizzTradeFX indicating the amount of E-Token held by WealthBizzTradeFX on your behalf
14.4 F-Token.
14.4.1 F-Token are issued and exclusively offered:
14.4.1.1 by WealthBizzTradeFX GmbH and are not based on any type of distributed ledger technology but constitute an entry recorded in a central database maintained by WealthBizzTradeFX GmbH;
14.4.1.2 in various currencies as displayed on WealthBizzTradeFX Systems;
14.4.1.3 for support and facilitation reasons as an extra service towards WealthBizzTradeFX Clients, in particular to enable the WealthBizzTradeFX Client to act faster with respect to WealthBizzTradeFX Client Offers;
14.4.1.4 for the exclusive use within a WealthBizzTradeFX System to exchange into E-Token, A-Token, L-Token and M-Token. An exchange or transfer of F-Token (i) outside of a WealthBizzTradeFX System or (ii) between / to another WealthBizzTradeFX Client is not possible.
14.4.2 F-Token may be acquired by WealthBizzTradeFX GmbH Clients only.
14.4.3 Supporting instruments. F-Token are solely intended as a supporting instrument to facilitate the quick and convenient acquisition of other Token by WealthBizzTradeFX Clients. F-Token shall in no event be considered or used by you as a deposit (Einlage) of any kind.
14.4.4 Risks. Neither WealthBizzTradeFX GmbH nor any Affiliate are credit institutions, nor do they accept or manage deposits (Einlagen). Your assets deposited on WealthBizzTradeFX Systems – in particular any F-Token – are thus not secured or guaranteed by any deposit-guarantee schemes.
14.4.5 Inactivity fee. If the WealthBizzTradeFX Client does not use an F-Token in exchange for another Token for an uninterrupted period of 365 days, WealthBizzTradeFX may charge an inactivity fee after the elapsed 365 days ("Reference Period") in the amount of 0.5% of the F-Token in custody but not more than the equivalent of EUR 5.00 per month ("Inactivity Fee").
The balance of F-Tokens cannot become negative. If the Inactivity Fee would lead to your Fiat Wallet becoming less than 0, only the remaining amount on the Fiat Wallet will be deducted.
Whenever the WealthBizzTradeFX Client makes a transaction with F-Tokens, the Reference Period is reset and starts again on the day the transaction with F-Token is made.
14.4.6 The WealthBizzTradeFX Client has the possibility to exchange F-Token back to the legal tender at any time. However, the Withdrawal Limits in point 8.6 apply.
14.4.7 The Wallet for all F-Token is named "Fiat Wallet" and the F-Token of each legal tender will be displayed in sub-wallets of the Fiat Wallet.
14.5 E-Money.
14.5.1 E-Money is issued and exclusively offered:
14.5.1.1 by WealthBizzTradeFX Payments GmbH, a licenced e-money institute, registered with the Austrian E-Money Institute register;
14.5.1.2 are not based on any type of distributed ledger technology but constitute e-money within the meanings of section 1 para 1 E-GeldG;
14.5.1.3 in various currencies as displayed on WealthBizzTradeFX Systems;
14.5.1.4 to be used as a means of payment, inter alia for the products and services offered on WealthBizzTradeFX Systems;
14.5.1.5 subject to and in accordance with the Payments TC;
14.5.2 E-Money is held in an electronic money wallet managed by WealthBizzTradeFX Payments GmbH on behalf of the holders of E-Money ("E-Money Wallet") and the E-Money of each legal tender will be displayed in sub-wallets of the E-Money Wallet.
15. Airdrops
15.1 For any airdrop by WealthBizzTradeFX itself ("WealthBizzTradeFX Airdrop") WealthBizzTradeFX automatically books the respective Token or any other digital information unit distributed in such WealthBizzTradeFX Airdrop to the respective WealthBizzTradeFX Client Account.
15.2 For any airdrop by persons other than WealthBizzTradeFX ("Third Party Airdrop"), WealthBizzTradeFX does not automatically credit any Token or any other digital information unit to your WealthBizzTradeFX Client Account. You have to monitor available Third Party Airdrop yourself and if you want to participate in such Third Party Airdrop you must withdraw the respective Token from the WealthBizzTradeFX System and book it into the respective system which you deem fit to participate in such Third Party Airdrop. WealthBizzTradeFX does not provide advice on Third Party Airdrop or on ways to participate in Third Party Airdrop. If you participate in any Third Party Airdrop you do so at your own risk. WealthBizzTradeFX does not and will not inform you on Third Party Airdrops.
16. WealthBizzTradeFX Fork Policies
WealthBizzTradeFX applies the fork policy as attached hereto in Annex II ("WealthBizzTradeFX Fork Policy") and you accept the WealthBizzTradeFX Fork Policy as part of the Group TC.
17. Right of withdrawal
17.1 Right of withdrawal. In case of a WealthBizzTradeFX Client Offer made by a WealthBizzTradeFX Consumer Client, the WealthBizzTradeFX Consumer Client has the right to withdraw from the contract with WealthBizzTradeFX within 14 days without giving any reason. The withdrawal period will expire after 14 days, starting from the day of the CCOFA. To exercise the right of withdrawal, the WealthBizzTradeFX Consumer Client must inform WealthBizzTradeFX of the decision to withdraw from the contract by an unequivocal statement (e.g. a letter sent by post, fax or email). The WealthBizzTradeFX Consumer Client may use the attached model withdrawal form (Annex III), but it is not obligatory. To meet the withdrawal deadline, it is sufficient for the WealthBizzTradeFX Consumer Client to send the communication concerning the exercise of the right of withdrawal before the withdrawal period has expired.
17.2 Effects of withdrawal. If the WealthBizzTradeFX Consumer Client withdraws from their contract, WealthBizzTradeFX shall reimburse the WealthBizzTradeFX Consumer Client for all payments received, without undue delay and in any event not later than 14 days after the day on which WealthBizzTradeFX is informed about the decision to withdraw from the contract. WealthBizzTradeFX will carry out such reimbursement using the same means of payment as the WealthBizzTradeFX Consumer Client used for the initial transaction, unless the WealthBizzTradeFX Consumer Client has expressly agreed otherwise; in any event, the WealthBizzTradeFX Consumer Client will not incur any fees as a result of such reimbursement.
17.3 Exception to the right of withdrawal for E-Token, L-Token and A-Token. The WealthBizzTradeFX Consumer Client has no right of withdrawal in case of WealthBizzTradeFX Client Offers for E-Token, A-Token and L-Token made at a distance (Fernabsatz), as their price depends on fluctuations in the financial market over which WealthBizzTradeFX has no control and which may occur within the withdrawal period.
17.4 Loss of right of withdrawal for M-Token. By clicking/checking the respective checkbox on WealthBizzTradeFX Systems, the WealthBizzTradeFX Consumer Client requests immediate performance of the transaction of M-Token and acknowledges that they will lose their right of withdrawal from the contract once the contract is fully performed.
17.5 Contract confirmation. WealthBizzTradeFX transmits a confirmation of the closed contract to the WealthBizzTradeFX Consumer Client immediately after the CCOFA.
18. Tell-a-Friend Program
18.1 WealthBizzTradeFX offers WealthBizzTradeFX Clients to refer new customers to WealthBizzTradeFX by participating in a tell-a-friend program ("Tell-a-Friend Program"). The Tell-a-Friend Program is offered until further notice.
18.2 Under the Tell-a-Friend Program, you (in such role the "Promoter") may refer a person which has never been a WealthBizzTradeFX Client to register a WealthBizzTradeFX Client Account by using the Promoter's referral code ("Promoter Referral Code") and to become a new WealthBizzTradeFX Client ("Referred WealthBizzTradeFX Client"). The Promoter Referral Code is made available in the WealthBizzTradeFX Client Account.
18.3 Requirements for Promotion Award for WealthBizzTradeFX GmbH Clients: You, as a Promoter, will be credited EUR equal to the value advertised to you in your Tell A Friend page in your WealthBizzTradeFX Client Account in F-Token to your Wallet for every Referred WealthBizzTradeFX Client ("Promotion Award") if you have not violated any of the provisions of the Group TC (in particular points 18.6 to 18.9), subject to the following requirements:
The Referred WealthBizzTradeFX Client:
18.3.1 has successfully completed the Client Verification Process and has complied with all other provisions of the Group TC,
18.3.2 has purchased at least EUR equal to the value required as advertised in the Promoter Referral Code at the time they verified their WealthBizzTradeFX Client Account in F-Token,
18.3.3 has purchased E-Token, A-Token or M-Token in an aggregate value equivalent or exceeding the value required as advertised in the Promoter Referral Code at the time they verified their WealthBizzTradeFX Client Account via WealthBizzTradeFX Broker, and
18.3.4 has javascript enabled and accepts essential cookies, allowing them to be recognised as a Referred WealthBizzTradeFX Client by WealthBizzTradeFX.
Provided that these requirements are met, the Referred WealthBizzTradeFX Client also receives EUR equal to the value advertised in the Promoter Referral Code that the Referred WealthBizzTradeFX Client used to join WealthBizzTradeFX in F-Token credited to the Referred WealthBizzTradeFX Client's Wallet as an award. The Referred WealthBizzTradeFX Client may also receive discounted trading fees on the WealthBizzTradeFX Broker platform for their first trades that equal up to an amount of EUR equal to the value advertised in the Promoter Referral Code at the time they verified their account. These awards are valid for 180 days from the date of being credited to the relevant Wallet ("Award Redemption Period"). If F-Token (or parts thereof) received as a Promotion Award have not been redeemed within the Award Redemption Period, they become invalid and will be deducted from the relevant Wallet. The Promoter and Referred WealthBizzTradeFX Client may receive additional rewards as advertised in their Tell-A-Friend page in their WealthBizzTradeFX Client Account and the Promoter Referral Code respectively as the Referred WealthBizzTradeFX Client makes additional trades.
18.4 Requirements for Promotion Award for BAM Clients: You, as a Promoter, will be credited EUR equal to the value advertised to you in your Tell A Friend page in your WealthBizzTradeFX Client Account in E-Money to your Wallet for every Referred WealthBizzTradeFX Client ("Promotion Award") that is a BAM Client if you have not violated any of the provisions of the Group TC (in particular points 18.6 to 18.9), subject to the following requirements:
The Referred WealthBizzTradeFX Client:
18.4.1 has successfully completed the Client Verification Process and has complied with all other provisions of the Group TC,
18.4.2 has purchased at least EUR equal to the value required as advertised in the Promoter Referral Code at the time they verified their WealthBizzTradeFX Client Account in E-Money,
18.4.3 has purchased E-Token, A-Token or M-Token in an aggregate value equivalent or exceeding the value required as advertised in the Promoter Referral Code at the time they verified their WealthBizzTradeFX Client Account via WealthBizzTradeFX Broker, and
18.4.4 has javascript enabled and accepts essential cookies, allowing them to be recognised as a Referred WealthBizzTradeFX Client by WealthBizzTradeFX.
Provided that these requirements are met, the Referred WealthBizzTradeFX Client also receives EUR equal to the value advertised in the Promoter Referral Code that the Referred WealthBizzTradeFX Client used to join WealthBizzTradeFX in E-Money credited to the Referred WealthBizzTradeFX Client's Wallet as an award. The Referred WealthBizzTradeFX Client may also receive discounted trading fees on the WealthBizzTradeFX Broker platform for their first trades that equal up to an amount of EUR equal to the value advertised in the Promoter Referral Code at the time they verified their account. These awards are valid for 180 days from the date of being credited to the relevant Wallet ("Award Redemption Period"). If E-Money (or parts thereof) received as a Promotion Award have not been redeemed within the Award Redemption Period, they become invalid and will be deducted from the relevant Wallet. The Promoter and Referred WealthBizzTradeFX Client may receive additional rewards as advertised in their Tell-A-Friend page in their WealthBizzTradeFX Client Account and the Promoter Referral Code respectively as the Referred WealthBizzTradeFX Client makes additional trades.
18.5 WealthBizzTradeFX may modify the terms of or terminate the Tell-a-Friend Program at any time. However, any Promotion Reward that the Promoter or the Referred WealthBizzTradeFX Client already received, cannot be removed.
18.6 Within the context of this Tell-a-Friend Program and for any other context, a Promoter may only use advertising materials provided by WealthBizzTradeFX. Alterations to these materials or the use of materials created by the Promoter are strictly forbidden.
18.7 Forbidden Actions. Spamming, cold calling or any other intrusive advertising measures are strictly forbidden. Further, it is strictly forbidden to share your Promoter Referral Code to a large group of people at once (e.g. via social media posting or messaging services such as Telegram). You may only share your Promoter Referral Code with people you are directly engaging with. If WealthBizzTradeFX determines that the Promoter has engaged in fraudulent behaviour or attempts to abuse the Tell-a-Friend Programme in a way evidently unintended by WealthBizzTradeFX, WealthBizzTradeFX may decide not to grant any awards under the Tell-A-Friend Programme (including the Promotion Reward and any awards to Referred WealthBizzTradeFX Clients) and potentially block and/or terminate the Promoter’s WealthBizzTradeFX Client Account.
18.8 Promoter acting in own name. Promoter must participate in the Tell-a-Friend Program in their own name and on their own account. Any act in the name of or on behalf of WealthBizzTradeFX is forbidden (e.g. sending messages on behalf or in the name of WealthBizzTradeFX to persons; publishing postings or publishing any statement on behalf of WealthBizzTradeFX, editing the logo(s), brands or other material of WealthBizzTradeFX, promoting any discounts for the services of WealthBizzTradeFX (except for discounts which are published by WealthBizzTradeFX themselves)).
18.9 Prohibition of Pay Per Click or Search Engine Marketing. Any Promoter must refrain from using any Pay Per Click (PPC) or Search Engine Marketing (SEM) methods when participating in the Tell-a-Friend Program, including but not limited to Google Adwords, Bing Ads when (i) advertising on behalf of WealthBizzTradeFX and leading users directly to WealthBizzTradeFX Systems, the Promoter’s website or any other third party website as a result of that paid advertising, (ii) bidding on WealthBizzTradeFX brand terms, including any forms of misspellings and typos, (iii) using WealthBizzTradeFX brand terms, including any misspellings or typos within the paid ads text and/or images, or (iv) directly competing against WealthBizzTradeFX ads in order to show on the search results pages.
18.10 Persons with residence/seat in certain jurisdictions or countries may be excluded from participation in the "Tell-a-Friend Program" due to e.g. regulatory reasons (both as Promoter and Referred WealthBizzTradeFX Client).
19. Client Default, Reminder Fees
19.1 You are in default (each a "Client Default") whenever you do not pay any amount owed to WealthBizzTradeFX when due, for example, whenever:
19.1.1 the payment of a currency that is a legal tender as set out under the relevant WealthBizzTradeFX Client Offer is not credited to WealthBizzTradeFX's bank account at the time when the relevant CCOFA has been completed by WealthBizzTradeFX. If WealthBizzTradeFX Consumer Clients settle their payment via bank transfer, the WealthBizzTradeFX Consumer Client issuing the transfer order on the day of the CCOFA is sufficient;
19.1.2 the transfer of Token or other assets set out under the relevant WealthBizzTradeFX Client Offer is not received on WealthBizzTradeFX's wallet or storage at the time when the relevant CCOFA has been completed by WealthBizzTradeFX;
19.1.3 WealthBizzTradeFX has to settle lawful third-party claims on behalf of a WealthBizzTradeFX Client,
19.1.4 a collection via SEPA Direct Debit mandate cannot be fulfilled, a debit card chargeback or credit card chargeback occurs and/or
19.1.5 any other fees cannot be collected at due date (e.g. storage fees for M-Token).
19.2 Reminder fees: In the event of a Client Default for which the WealthBizzTradeFX Client is at fault, WealthBizzTradeFX may charge reminder fees in a reasonable relation to the amount in delay/value of transferred Token in delay, as far as such fees are necessary to cover adequate costs of WealthBizzTradeFX to administer such Client Default and enforce WealthBizzTradeFX's rights. At least EUR 5.00 and up to a maximum of EUR 15.00 in reminder fees will be charged. This minimum fee provision shall not apply if the WealthBizzTradeFX Client proves that no damage has occurred and therefore no or lower administration costs or costs for the enforcement of WealthBizzTradeFX's rights have been incurred
20. Set-off
20.1 Set-off. Each of BAM, WealthBizzTradeFX GmbH, WealthBizzTradeFX Metals GmbH, WealthBizzTradeFX Financial Services GmbH and WealthBizzTradeFX Payments GmbH or other Affiliate may at any time set-off any due and unpaid monetary claim it has against a WealthBizzTradeFX Client against any due and unpaid monetary claim such WealthBizzTradeFX Client may have against it.
20.2 Set-off F-Token. WealthBizzTradeFX GmbH may at any time set-off any due and unpaid monetary claim it has against WealthBizzTradeFX GmbH Clients against their F-Token by deleting an amount equivalent to the due and unpaid monetary claim it has.
20.3 Set-off E-Money. BAM may at any time set-off any due and unpaid monetary claim it has against BAM Clients against their E-Money by deleting an amount equivalent to the due and unpaid monetary claim it has
20.4 For the avoidance of doubt: point 20 does not intend to exclude any rights BAM, WealthBizzTradeFX GmbH, WealthBizzTradeFX Metals GmbH, WealthBizzTradeFX Financial Services GmbH, WealthBizzTradeFX Payments GmbH and/or any Affiliate and/or you may have under Austrian law and only amends and/or extends (as the case may be) such rights if explicitly provided for in point 20.
21. Security over WealthBizzTradeFX GmbH Client assets and Security ownership
21.1 Security ownership. The WealthBizzTradeFX GmbH Client irrevocably grants a first ranking security right in the form of security ownership (Sicherungseigentum) in favour of WealthBizzTradeFX GmbH over all E-Token deposited from time to time on the relevant Wallet ("Secured Assets") to secure all monetary claims (present or future, conditional or unconditional) of WealthBizzTradeFX GmbH against themself (such claims the "Secured Claims"). As the relevant E-Token are also subject to custody (as set out in point 6 of the WealthBizzTradeFX GmbH & BAM TC), no separate perfection step to establish the security ownership is required.
21.2 Enforcement. If the WealthBizzTradeFX GmbH Client defaults on any of the Secured Claims (for example, if a Client Default occurs or whenever any other fee or compensation is not paid when due) WealthBizzTradeFX GmbH may enforce the Secured Asset in whole or in parts by (partial) sale or auction of the Secured Assets ("Enforcement"). Any Enforcement may be affected as out of court enforcement without the need to obtain a judgment or award and without having to institute enforcement proceedings in accordance with the Austrian Enforcement Act (Exekutionsordnung). Before any Enforcement, WealthBizzTradeFX GmbH will notify the WealthBizzTradeFX GmbH Client about the default of the relevant Secured Claims and warn them that the Secured Assets will be auctioned or sold unless all outstanding claims are paid within one month of such notice. An Enforcement may be affected by WealthBizzTradeFX GmbH either by sale on any trading platform or exchange (including on WealthBizzTradeFX Systems) at the respective market price or as direct sale provided that the price is equal to or higher than the current market price for the relevant Secured Asset. If for any Secured Asset (i) no such market price exists; or (ii) no trading platform or exchange is (technically and legally) accessible to WealthBizzTradeFX GmbH; or (iii) considering the circumstances and steps required, access to such trading platform or exchange is not feasible in the specific case, WealthBizzTradeFX GmbH may enforce the relevant (part of the) Secured Assets in a public auction in analogues application of section 466b et seq. of the Austrian Civil Code (Allgemeines bürgerliches Gesetzbuch). WealthBizzTradeFX GmbH may – with due consideration to your interests – decide which parts of the Secured Assets will be subject to an Enforcement and the WealthBizzTradeFX GmbH Client does not have any right to direct WealthBizzTradeFX GmbH which parts of the Secured Assets shall be included in or excluded from an Enforcement. Any proceeds of the Enforcement will be applied as follows: firstly, towards payments of all necessary costs and fees of the Enforcement and secondly towards payment of any due and unpaid Secured Claim. Any surplus will be transferred to the WealthBizzTradeFX GmbH Client.
21.3 Release of security ownership. The security ownership (Sicherungseigentum) is released by effectively transferring the Secured Assets to the WealthBizzTradeFX GmbH Client's or any other person's wallet outside WealthBizzTradeFX Systems. WealthBizzTradeFX GmbH will release the security ownership once all Secured Claims are fully and finally settled at the latest. Any partial release or Enforcement of the Secured Assets does not affect the security ownership over the remaining Secured Assets. For the avoidance of doubt, the security ownership shall be in addition to and independent from the custody set out in point 6 of the WealthBizzTradeFX GmbH & BAM TC.
21.4 Neither WealthBizzTradeFX GmbH, WealthBizzTradeFX Metals GmbH, WealthBizzTradeFX Financial Services GmbH nor WealthBizzTradeFX Payments GmbH accept or agree to any security rights of other persons that would rank ahead of or in any way impair their rights set out in points 21.1 to 21.3 unless (i) where such third party right is created by operation of law or (ii) WealthBizzTradeFX GmbH, WealthBizzTradeFX Metals GmbH, WealthBizzTradeFX Financial Services GmbH or WealthBizzTradeFX Payments GmbH (as the case may be) explicitly agrees with you to waive any or all its rights under points 21.1 to 21.3.
21.5 For the avoidance of doubt: points 21.1 to 21.3 do not intend to exclude any rights WealthBizzTradeFX GmbH, WealthBizzTradeFX Metals GmbH, WealthBizzTradeFX Financial Services GmbH, WealthBizzTradeFX Payments GmbH and/or you may have under Austrian law and only amends and/or extends (as the case may be) such rights if explicitly provided for in points 21.1 to 21.3.
21.6 Currency of account and currency conversion:
21.6.1 Except where a payment or other transaction (for example a WealthBizzTradeFX Swap) is to be made in a specific currency or by transfer of specific asset (for example in BTC), Euro shall exclusively be the currency of account and payment for any sum due from WealthBizzTradeFX GmbH to the WealthBizzTradeFX Client or vice versa.
21.6.2 WealthBizzTradeFX GmbH may convert any money received or proceeds recovered in an Enforcement from one currency to another at a market rate of exchange if such conversion is required to settle or set-off the claims between WealthBizzTradeFX GmbH and the WealthBizzTradeFX Client.
22. Security over BAM Client assets and Security ownership
22.1 Security ownership. The BAM Client irrevocably grants a first ranking security right in the form of security ownership (Sicherungseigentum) in favour of BAM over all E-Token deposited from time to time on the relevant Wallet ("Secured Assets") to secure all monetary claims (present or future, conditional or unconditional) of BAM against themself (such claims the "Secured Claims"). As the relevant E-Token are also subject to custody (as set out in point 6 of the WealthBizzTradeFX GmbH & BAM TC), no separate perfection step to establish the security ownership is required.
22.2 Enforcement If the BAM Client defaults on any of the Secured Claims (for example, if a Client Default occurs or whenever any other fee or compensation is not paid when due) BAM may enforce the Secured Asset in whole or in parts by (partial) sale or auction of the Secured Assets ("Enforcement"). Any Enforcement may be affected as out of court enforcement without the need to obtain a judgment or award and without having to institute enforcement proceedings in accordance with the Austrian Enforcement Act (Exekutionsordnung). Before any Enforcement, BAM will notify the BAM Client about the default of the relevant Secured Claims and warn them that the Secured Assets will be auctioned or sold unless all outstanding claims are paid within one month of such notice. An Enforcement may be affected by BAM either by sale on any trading platform or exchange (including on WealthBizzTradeFX Systems) at the respective market price or as direct sale provided that the price is equal to or higher than the current market price for the relevant Secured Asset. If for any Secured Asset (i) no such market price exists; or (ii) no trading platform or exchange is (technically and legally) accessible to BAM; or (iii) considering the circumstances and steps required, access to such trading platform or exchange is not feasible in the specific case, BAM may enforce the relevant (part of the) Secured Assets in a public auction in analogues application of section 466b et seq. of the Austrian Civil Code (Allgemeines bürgerliches Gesetzbuch). BAM may – with due consideration to your interests – decide which parts of the Secured Assets will be subject to an Enforcement and the BAM Client does not have any right to direct BAM which parts of the Secured Assets shall be included in or excluded from an Enforcement. Any proceeds of the Enforcement will be applied as follows: firstly, towards payments of all necessary costs and fees of the Enforcement and secondly towards payment of any due and unpaid Secured Claim. Any surplus will be transferred to the BAM Client.
22.3 Release of security ownership. The security ownership (Sicherungseigentum) is released by effectively transferring the Secured Assets to the BAM Client's or any other person's wallet outside WealthBizzTradeFX Systems. BAM will release the security ownership once all Secured Claims are fully and finally settled at the latest. Any partial release or Enforcement of the Secured Assets does not affect the security ownership over the remaining Secured Assets. For the avoidance of doubt, the security ownership shall be in addition to and independent from the custody set out in point 6 of the WealthBizzTradeFX GmbH & BAM TC.
22.4 Neither BAM, WealthBizzTradeFX Metals GmbH, WealthBizzTradeFX Financial Services GmbH nor WealthBizzTradeFX Payments GmbH accept or agree to any security rights of other persons that would rank ahead of or in any way impair their rights set out in points 22.1 to 22.3 unless (i) where such third party right is created by operation of law or (ii) BAM, WealthBizzTradeFX Metals GmbH, WealthBizzTradeFX Financial Services GmbH or WealthBizzTradeFX Payments GmbH (as the case may be) explicitly agrees with you to waive any or all its rights under 22.1 to 22.3.
22.5 For the avoidance of doubt: points 22.1 to 22.3 do not intend to exclude any rights BAM, WealthBizzTradeFX Metals GmbH, WealthBizzTradeFX Financial Services GmbH, WealthBizzTradeFX Payments GmbH and/or you may have under Austrian law and only amends and/or extends (as the case may be) such rights if explicitly provided for in points 22.1 to 22.3.
22.6 Currency of account and currency conversion:
22.6.1 Except where a payment or other transaction (for example a WealthBizzTradeFX Swap) is to be made in a specific currency or by transfer of specific asset (for example in BTC), Euro shall exclusively be the currency of account and payment for any sum due from BAM to the WealthBizzTradeFX Client or vice versa.
22.6.2 BAM may convert any money received or proceeds recovered in an Enforcement from one currency to another at a market rate of exchange if such conversion is required to settle or set-off the claims between BAM and the WealthBizzTradeFX Client.
23. Data Protection
In the course of delivering its services, WealthBizzTradeFX is compliant with the GDPR as set forth in the Data Protection Terms (set out under https://www.bitpanda.com/en/legal/bitpanda-privacy-policy).
24. Risks
Using WealthBizzTradeFX Systems and the assets offered on WealthBizzTradeFX Systems and other services provided by WealthBizzTradeFX, bears risks, which each in the worst case may lead to the total loss of your investment or assets. These risks are in particular, but not limited to, the following:
(i) Risk of software weaknesses: The technology of cryptographic blockchain-based digital information units and the underlying software applications and software platforms such as the smart contract systems and other involved software and technology and technical concepts and theories are still in an early development stage and unproven and out of WealthBizzTradeFX's control or influence. There is no guarantee or warranty that the process for receipt, use and ownership of any cryptographic blockchain-based digital information units will be uninterrupted or error-free and there is an inherent risk that the technology could contain weaknesses, vulnerabilities or bugs causing, inter alia, the complete loss of any cryptographic blockchain-based digital information units, in particular but not limited to token, Euros or any value of any cryptographic blockchain-based digital information units even if the software and systems deployed and under the control of WealthBizzTradeFX function correctly. Many of these technologies or software applications required for the sale, transfer or holding of token are neither released by a software manufacturer nor in any other way certified by a central entity such that there would be a person or entity that could be held liable for such defects. You should further note that even professionally developed and/or certified software – which is deployed on WealthBizzTradeFX Systems or which you may use to access WealthBizzTradeFX Systems (such as your internet browser) – may have vulnerabilities that are neither known by its developers nor its users and thus be subject to hacks or attacks. WealthBizzTradeFX uses and displays customary security certificates issued by third parties (certificate authorities) that are widely regarded as a security enhancing feature but ultimately cannot guarantee that the security certificates displayed on any WealthBizzTradeFX System are valid or correct. Always keeping your WealthBizzTradeFX mobile app, your internet browser and the underlying operating systems up to date helps to mitigate certain risks and vulnerabilities; but even if a specific security issue is known, it may take a certain period of time until such vulnerability will be addressed and a corresponding software update is available.
(ii) Regulatory and legal risk: It is possible that statutory or regulatory changes have material effects on the current setup of the WealthBizzTradeFX Systems which may result in substantial modifications to the/any cryptographic blockchain-based digital information units. WealthBizzTradeFX is committed to design, modify and/or adapt the WealthBizzTradeFX System in such a way that it complies with all applicable laws and regulations while at the same time retaining the flexibility for WealthBizzTradeFX Clients but cannot guarantee that certain regulatory or legal changes may result in the limitation or termination of certain services on WealthBizzTradeFX Systems.
To the best of WealthBizzTradeFX's knowledge, E-Token are not considered financial instruments within the meaning of section 1 (7) WAG under Austrian law, however, WealthBizzTradeFX does not make any representations as to the regulatory or legal status of the assets and services available on WealthBizzTradeFX Systems that relate to blockchain technology-based applications. You are responsible to comply with any regulatory or legal requirements that may apply to you and/or in your jurisdiction in that regard (for example, you may be required to report certain trades or holdings of Token to the competent authorities).
Blockchain-based digital information units are not explicitly mentioned or otherwise regulated under Austrian property law and contract law. After having conducted a legal analysis with due care, WealthBizzTradeFX has concluded that as at the date of the Group TC the legal concepts of Austrian property law and contract law applied to E-Token on WealthBizzTradeFX Systems (being the concepts of ownership (Eigentum) over Blockchain-based digital information units, the transfer of ownership (Eigentum) of E-Token via electronic transfer of the relevant information units in accordance with the relevant block chain protocol, the possibility to establish a custody (Treuhand) and security ownership (Sicherungseigentum) over E-Token) is legal, valid and enforceable under Austrian law. WealthBizzTradeFX, however, cannot exclude that future legislation, case law or administrative practice will impair the legality, validity or enforceability of these legal concepts and, as a result, may adversely affect WealthBizzTradeFX, WealthBizzTradeFX Systems and/or your rights under the Group TC, Affiliate TC or in relation to your E-Token.
(iii) Risk of abandonment/lack of success: The allocation of any cryptographic blockchain-based digital information units and the development of such cryptographic blockchain-based digital information units technologies might be abandoned for a number of reasons, including lack of interest from industry, community and/or the public, lack of funding, lack of commercial success or prospects (e.g. caused by competing projects) which are out of WealthBizzTradeFX's influence. Many blockchain-based digital information units (such as Bitcoin) are issued and maintained by neither a governmental agency nor corporation but by an undefined and anonymous network of individuals which factually participate in the development, use, mining and/or maintenance of such blockchain-based digital information units but are not bound by any agreement, law or regulation to do so. Respectively even if WealthBizzTradeFX System technology is partially or fully developed and launched, it could happen that cryptographic blockchain-based digital information units do not receive or retain any functionality or that there are material changes of all kinds to the functionality of such assets. WealthBizzTradeFX does not make any representation as to the current and future functionality, adoption or commercial success of any E-Token offered or stored on or transferred with WealthBizzTradeFX Systems.
(iv) Risk of theft and internet vulnerability: The software application and software platform underlying the cryptographic blockchain-based digital information units, the smart contract system(s) and/or other technology components and/or platforms may be exposed to electronic or physical attacks that could result in the irreversible theft or loss of Tokens or the theft or loss of private data.
(v) Risk of eliminating the benefits of 2FA: WealthBizzTradeFX strongly recommends that you use the 2FA. Please note however, that the safety benefit of using 2FA is effectively eliminated if both factors can be accessed with the same credentials. For example, if your 2F is text message (SMS), you access WealthBizzTradeFX Systems on your mobile browser on the same device and both the content of your text messages and WealthBizzTradeFX Systems on your mobile browser is accessible to a person who is in control of or able to spoof the credentials to your mobile device (e.g. Face ID), an attacker may be able to gain access to your WealthBizzTradeFX Client Account and thus your Wallet just by having access to this singe credential, even if you are using the using 2FA.
(vi) Risk of weak and loss of credentials: If you do not use the 2FA in cases provided for by WealthBizzTradeFX, any person with knowledge of your password and e-mail address may be able to access your WealthBizzTradeFX Client Account and the assets deposited with WealthBizzTradeFX Systems and may make transactions in your name. The password you chose when registering a WealthBizzTradeFX Client Account (as amended from time to time) may be subject to attacks , even if it is unique and only known to you. The risk is greater if the password is weak (in length and/or complexity) and/or if the password contains personal details (for example your name, date of birth or place of residence) and/or words included in a dictionary. WealthBizzTradeFX recommends that you always choose a strong and unique password (not used in any other service) and that you use the 2FA. If you use the password used with WealthBizzTradeFX Systems on any other platform or service, or if you store (digitally or physically) your password in any location an attacker may retrieve your password used with WealthBizzTradeFX Systems if such other platform or service or storage space (where your password is recorded) is successfully attacked. While stronger passwords are statistically (far) less likely to be successfully retrieved by an attacker, no password is fully safe. While WealthBizzTradeFX indicates the password strength of your password when a WealthBizzTradeFX Client Account is registered, such indicator is calculated from general parameters, does not verify whether your password may contain any of your personal details or words included in a dictionary and should thus be regarded as a guideline only. WealthBizzTradeFX does not guarantee that any particular password is in fact secure or immune to password attacks.
(vii) Risk of phishing and/or social engineering: SMS and e-mail services are vulnerable to spoofing and phishing attacks. You should always log into your WealthBizzTradeFX Client Account through https://www.bitpanda.com to review any transactions or required actions if you have any uncertainty regarding the authenticity of any communication or notice. Phishing attacks often occur despite SMS or e-mail or equivalent services, via search engines or ads in search engines, or other fraudulent links. While we strongly recommend participating in the 2FA, the 2FA cannot prevent successful phishing and/or social engineering attacks if your credentials including the 2F are disclosed in such an attack.
(viii) Risk of blockchain mining attacks: As with any other public blockchain-based systems, the E-Token available on WealthBizzTradeFX System may be susceptible to attacks including but not limited to double-spend attacks, majority mining power attacks, "selfish-mining" attacks, and race condition attacks or any other mining or non-mining related attacks which are out of WealthBizzTradeFX's influence and control. Any successful attack presents a risk to the WealthBizzTradeFX System technology, expected proper execution and sequencing of cryptographic blockchain-based digital information units transactions and expected proper execution and sequencing of software computations.
(ix) Risk of depreciation in value, liquidity and extreme volatility: E-Token are not widely regulated, do not qualify as, and thus cannot be compared to, a legal tender, security or other regulated financial product. The value of E-Token is typically determined by the current market price (if any) and there is usually no way to redeem or exchange the E-Token with a central entity or to access any assets the E-Token may represent. There is no guarantee as to the amount of platforms and entities as well as the conditions under which E-Token are exchanged into a legal tender or other assets or services. AnyToken might experience extreme volatility and/or the value of cryptographic blockchain-based digital information units might decline to zero. As additional costs with respect to regulatory or other risks might be triggered – and if such costs are added for the purpose of calculation to the value of cryptographic blockchain-based digital information units (whatever value you might give to the cryptographic blockchain-based digital information units) – cryptographic blockchain-based digital information units might also decline in their value to zero. Past performance of a certain asset does not indicate future results. Such investment is only suitable for users, who can bear a loss of the entire invested capital and should not be considered as or entered into with the expectation of a stable source of income.
The same principles apply to A-Token, L-Token and M-Token: The value and liquidity of these Tokens depend, among other things, on the market value and liquidity of the underlying precious metal (in the case of M-Token),financial instrument (in the case of A-Token) or crypto assets (in the case of L-Token). The values of A-Token, L-Token and M-Token are highly volatile.
(x) Market and community risk: There is a risks of soft and hard forks of E-Token and splitting including the broad possible changes to WealthBizzTradeFX System technology which might be imposed by the market or community on WealthBizzTradeFX/WealthBizzTradeFX System technology. Market and community risk may also be triggered and accelerated via communities that come together, for example in online forums, to discuss certain investment opportunities and products with the intention of placing jointly organised buy and sell orders which may lead to strong price fluctuations which carry a high risk of loss.
(xi) Tax risk: The allocation or purchase of Token and other assets available on WealthBizzTradeFX Systems (in whatever form) as well as the exchange, the holding and the alienation of Token and other assets available on WealthBizzTradeFX Systems (in whatever form) and/or any other action or transaction related to Tokens and other assets available on WealthBizzTradeFX Systems (in whatever form) may trigger tax consequences for you, including, but not limited to, being required to declare your asset portfolio, trades and profits to the competent tax authorities as well as to calculate and pay taxes triggered by your transactions and/or the holding of your digital assets. Such tax consequences often (but not always) depend on the tax laws of the country of your permanent residence and the international tax treaties that country has ratified. We note that while several countries have already implemented various tax regulations for digital assets, further changes and/or additional tax regulations are to be expected. WealthBizzTradeFX may under certain circumstances (now and/or in the future) be required to deduct withholding tax. You understand that WealthBizzTradeFX may report information with respect to transactions made by you to a tax authority to the extent such reporting is required by applicable law. WealthBizzTradeFX shall deduct and withhold tax on the total amount of your transactions to the extent such withholding is required by applicable law. WealthBizzTradeFX may ask you for tax documentation, certification of your taxpayer status as required by applicable law or similar information. All withholding taxes will be sent to the tax authorities and we cannot refund these amounts. You should conduct your own due diligence and consult your tax advisors before making any decisions with respect to any transactions. Only you are responsible to comply with all national and international tax laws from time to time applicable to you by virtue of using WealthBizzTradeFX Systems and holding, trading and/or exchanging the digital assets offered on WealthBizzTradeFX Systems at all times and WealthBizzTradeFX shall not be required to inform or warn you about any existing or pending tax implications in connection with WealthBizzTradeFX Systems (other than when we have made a withholding tax deduction) and does not make any representations whatsoever in respect to any tax consequences triggered by using WealthBizzTradeFX Systems and/or holding, trading and/or exchanging the digital assets offered on WealthBizzTradeFX Systems.
Before you become a WealthBizzTradeFX Client, before you make any WealthBizzTradeFX Client Offer, as well as from time to time (e.g. in connection with the annual tax return or financial statements) and as may be required in accordance with the tax laws applicable to you, we thus advise you to consult a tax advisor (i) about the tax consequences and their economic consequences in connection with using WealthBizzTradeFX Systems and holding, trading and/or exchanging the digital assets offered on WealthBizzTradeFX Systems and (ii) to ensure that you are able to take all steps required to comply with all applicable tax laws when using WealthBizzTradeFX Systems and holding, trading and/or exchanging the digital assets offered on WealthBizzTradeFX Systems.
(xii) Counterparty risk: WealthBizzTradeFX does not take any responsibility for digital information units that are or tend to be collateralised, backed or pegged by a currency that is a legal tender or any other asset of whatever form (e.g. stablecoins) as all actions in connection to such digital information units are in the sole responsibility of its issuer (which is neither WealthBizzTradeFX nor any Affiliate) and WealthBizzTradeFX has no discretion over such actions. Even if such digital information units are collateralised, backed or pegged by a currency that is a legal tender or any other asset, it may not be possible to verify whether those digital information units are effectively (validly and enforceable) collateralised, backed or pegged and whether the holder of such digital information unit has any legal or factual direct or indirect claim or right to such collateralised, backed or pegged assets. In addition, certain legal restrictions or preconditions may be dictated by the issuer (such as the requirement to agree to certain terms and conditions) or by the laws applicable to the issuer and/or digital information unit. It is not clear whether the collateralised, backed or pegged assets are separated from the assets of the issuer of the digital information units and whether they would be protected in the event of insolvency of the issuer of the digital information units. WealthBizzTradeFX makes no representation as to the legal status and credibility of any such issuer of such digital information units nor to the legal status, arrangement, enforcement, marketability and existence of any such digital information units or the assets collateralised, backed or pegged in connection therewith.
(xiii) Risks of other Token. The same principles also apply to other Token and assets accessible on WealthBizzTradeFX Systems.
(xiv) Availability of WealthBizzTradeFX Systems. Technology-based systems like WealthBizzTradeFX Systems need (planned and unplanned) maintenance work and development work and that for such work interruptions of the systems (planned and unplanned) are necessary and system immanent. During the period of such interruption, the use of the WealthBizzTradeFX Systems may be restricted or not possible and therefore the purchase, sale or transfer of assets may also be temporarily impossible.
Planned maintenance work, updates or upgrades that not only temporarily restrict the functioning of WealthBizzTradeFX Systems or cause it to fail will be communicated to the WealthBizzTradeFX Client in a suitable manner (for example, by email) in a reasonable amount of time in advance. Such maintenance work will be completed as soon as possible, but at least within two weeks.
Unplanned maintenance work that is necessary due to technical defects or force majeure will be carried out as soon as possible.
25. Limitation of liability
25.1 WealthBizzTradeFX Consumer Client. WealthBizzTradeFX shall, in principle, only be liable for damage caused intentionally (vorsätzlich) or by gross negligence (grob fahrlässig) by WealthBizzTradeFX or one of its vicarious agents (Erfüllungsgehilfen). In the case of damage caused by slight negligence, WealthBizzTradeFX shall only be liable,
25.1.1 in cases of physical damage to persons (Personenschäden),
25.1.2 for damage to items accepted for processing, unless otherwise agreed in detail with the WealthBizzTradeFX Consumer Client with regard to damage to items accepted for processing,
25.1.3 for damage due to the absence of a guaranteed characteristic,
25.1.4 according to the Austrian Product Liability Act (Produkthaftungsgesetz), and
25.1.5 for damages arising from the breach of a material contractual obligation (cardinal obligation), if the damage was reasonably foreseeable for WealthBizzTradeFX at the time of the conclusion of the contract. A cardinal obligation is one that makes the proper performance of the contract possible in the first place and on whose compliance the user regularly relies and may rely. This is the acquisition and sale of financial instruments and the obligation to take into custody (verwahren), administer (verwalten) or secure (sichern) values or cryptographic private keys for the WealthBizzTradeFX Consumer Client on the WealthBizzTradeFX Systems.
25.2 Third-Party Services: When using websites or services not provided by WealthBizzTradeFX, such as wallet services or any other services of any third parties ("Third Party Services"), WealthBizzTradeFX shall expressly not be liable for the content, availability or performance of any Third-Party Services and shall not be liable for any damage or loss incurred by a WealthBizzTradeFX Client or any third party when using any such Third-Party Services. The WealthBizzTradeFX Client uses these services completely at their own risk. Funds sent to such third parties cannot be reverted, if these parties are not willing to. We cannot and will not check the reliability of these third parties or any of their services. We assume no obligation to contact you or provide support to you in case of a problem with any third party or any of their services.
25.3 Special liability: Points 25.1 to 25.2 do not apply to those (parts of) services where the ZaDiG, the KMG, the E-GeldG or the PRIIPs Regulation (Regulation (EU) No. 1286/2014) provide for special liabilities.
25.4 Exclusion of claims for damages. Claims for damages cannot be made by a WealthBizzTradeFX Client arising from the fact that WealthBizzTradeFX, in negligent ignorance that the suspicion of money laundering or terrorist financing or the suspicion of a violation of the obligations described in point 6.6(acting on its own behalf) was false, delayed or failed to carry out a transaction, pursuant to section 19 of the Austrian FM-GwG.
26. Miscellaneous
26.1 External ICO. WealthBizzTradeFX does not support any ICO (Initial Coin Offering) outside WealthBizzTradeFX Systems, or a comparable arrangement where a digital currency or assets is issued or awarded unless specifically and explicitly declared by WealthBizzTradeFX ("External ICO"). You participate in any External ICO at your own risk and WealthBizzTradeFX will not actively provide any support in the participation of such External ICO (including any support in receiving any assets from the ICO to your Wallet). Should you request any support in connection with an External ICO, WealthBizzTradeFX may, at its own discretion, offer such support on a case by case basis at a fee communicated to you.
26.2 Disclosure of data to authorities. WealthBizzTradeFX may disclose any data relating to WealthBizzTradeFX Clients and WealthBizzTradeFX Accounts (including all transactions made in the past in connection therewith) if required or requested to be disclosed by any court of competent jurisdiction or any governmental, banking, taxation or other regulatory authority or similar official body (for example in connection with criminal investigations). WealthBizzTradeFX reserves the right to cooperate with such authorities to the maximum extent possible.
26.3 No waiver of rights. The failure of WealthBizzTradeFX to enforce or to exercise, at any time or for any period of time any term of or any right or remedy arising pursuant to or under the Group TC or Affiliate TC shall not constitute, and shall not be construed as, a waiver of such term or right or remedy and shall in no way affect WealthBizzTradeFX's right to enforce or exercise it later, provided that such right is not time barred, expired or precluded.
26.4 The Group TC shall continue to apply even after termination of the business relation until complete settlement.
26.5 Contractual language. The Group TC and the Affiliate TC are made and published in various languages. In case of a dispute or any discrepancies, the German language version of the Group TC and the Affiliate TC shall prevail.
26.6 Complaint Process for BAM Clients. In the event of disputes arising from the application of provisions of the German Civil Code relating to distance contracts for financial services between consumers and regulated entities, the Deutsche Bundesbank or BaFin may act as official consumer arbitration bodies pursuant to section 14 of the German Act on Actions for an Injunction (Unterlassungsklagegesetz - UKlaG).
The address of the Deutsche Bundesbank's conciliation body is:
Deutsche Bundesbank
Arbitrary Board (Schlichtungsstelle)
P.O. Box 10 06 02
60006 Frankfurt am Main
E-mail: schlichtung@bundesbank.de; Website: www.bundesbank.de
Further information on the conciliation body and information on the procedure can be found using the search function on the Deutsche Bundesbank's website.
The address of BaFin's arbitrary board is:
Arbitrary Board (Schlichtungsstelle) at the
Federal Financial Supervisory Authority
- Division ZR 3 -
Graurheindorfer Strasse 108
53117 Bonn
Fon: 0228 / 4108-0
Fax: 0228 / 4108-62299
Website: www.bafin.de
Further information on the conciliation body and information on the procedure can be found using the search function on the BaFin website.
In addition, the European online dispute resolution platform (OS platform) of the European Commission can be used at https://ec.europa.eu/consumers/odr/main/?event=main.home2.show.
27. Governing Law
27.1 The Group TC, the Affiliate TC and any transaction hereunder shall be governed by and construed in accordance with the laws of the Republic of Austria excluding the provisions of the United Nations Convention on the International Sale of Goods and excluding the conflict of law rules of Austrian private international law.
27.2 For WealthBizzTradeFX Consumer Clients, this only applies insofar as the law of their country of residence does not grant them a more favourable legal position vis-à-vis WealthBizzTradeFX in the individual case.
28. Place of jurisdiction
The statutory places of jurisdiction shall apply.
ASSET MANAGEMENT Your investment, your assets: Why your money is safe with WealthBizzTradeFX
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