These Terms of Use and the Privacy Policy (together, the “Terms) apply to any person located in the United States of America that registers for and/or opens a FWS Account or any associated mobile applications, website, or application program interfaces (together, the “Site” or “Platform”). These Terms constitute a legally binding agreement between you (also referred to herein as “User”) and FWS Corp. (“FWS , “us”, or “we”). By registering for and opening a FWS Account or accessing the Site, you understand and accept these Terms and agree to be bound by and act in accordance with them. If you are using the Platform on behalf of a business or entity, you acknowledge and agree that you have authority to bind such business or entity and that such business or entity accepts these terms.These Terms set forth the terms for your use of the Site and are effective as of the date you accept or otherwise agree to the terms of this Agreement (“Effective Date”). Users may be granted additional levels of access to the Site and their relationship with FWS may be governed by additional agreements and/or terms of use that govern their account(s) (e.g. FWS Prime users must agree to the Prime Liquidity Service Agreement)
FWS reserves the right to change or modify the terms and conditions contained in these Terms, including but not limited to any policy or guideline of the Platform, at any time and at its sole discretion. If you keep using our services after these Terms have changed and gone into effect, that means you have accepted those changes and they are legally binding on you. If you do not agree with the changed terms, you must stop using our services immediately. You agree that we will not be liable to you or any third party as a result of any losses suffered by any modification or amendment of these Terms
You are solely responsible for understanding and complying with any and all federal and state lAWS , rules, and regulations that may be applicable to you in connection with the use of the Site and any and all services, products, and content of FWS .
IF YOU DO NOT AGREE TO THE TERMS, DO NOT ACCESS THE SITE OR USE OUR SERVICES.
STATE LICENSE DISCLOSURES
FWS maintains licenses to engage in money transmission activities in many states, and these licenses may impact our provision and your use of certain FWS services depending on where you live. FWS ’s licenses and corresponding required disclosures can be found on the Licenses and Registrations page, which is incorporated here by reference.
PLEASE BE ADVISED THAT THESE TERMS OF USE INCLUDE AN ARBITRATION PROVISION THAT GOVERNS THE RESOLUTION OF DISPUTES BETWEEN YOU AND FWS . BY ACCESSING OR USING OUR SERVICES, YOU ACKNOWLEDGE AND AGREE TO BE BOUND BY THE TERMS SET FORTH HEREIN, INCLUDING THE ARBITRATION PROVISION DETAILED BELOW.
THE ARBITRATION PROVISION OUTLINES THE PROCESS BY WHICH DISPUTES WILL BE RESOLVED AND MAY AFFECT YOUR LEGAL RIGHTS, INCLUDING THE WAIVER OF YOUR RIGHT TO PURSUE CLAIMS IN COURT OR PARTICIPATE IN CLASS ACTIONS. IT IS IMPORTANT THAT YOU CAREFULLY READ AND UNDERSTAND THE ARBITRATION PROVISION BEFORE CONTINUING TO USE OUR SERVICES.
1.1. Capitalized terms not otherwise defined in these Terms will have the following meaning:
Account” or “FWS Account means a personal secure profile created by you on our Site or App. It allows you to access and use our services and manage your preferences. “Affiliates means, with respect to a legal entity, another legal entity that controls, is under common control with, or is controlled by the first legal entity. The Site may be operated or provided by FWS , its Affiliates or their respective contractors. “Application“ or “App“ refers to a software program designed to run on electronic devices, including but not limited to mobile phones, tablets, and computers. The application may provide various services, features, or functionalities.
“Biometric Data” means the unique physical, physiological or behavioral characteristics of an individual that can be used to identify or authenticate their identity. It includes, but is not limited to fingerprints, facial recognition patterns, voiceprints, or other biologically derived or physical traits that can be digitally captured or stored. “Bundle” means a trading service into which the User can buy Digital Assets immediately (instantly) from Digital Assets.
“Content” refers to all information, data, materials, text, images, videos, audio, graphics, software, and any other digital assets or elements made available on our website or through our services. This includes, but is not limited to, any content provided by us, user-generated content, third-party content, product descriptions, articles, blog posts, comments, reviews, and any other information presented or accessible within the scope of our platform or services. The term “Content“ encompasses all forms of media and resources that Users may encounter or interact with while using our Site.
“Deposit” means a Transaction involving the transfer of Funds to the Account. “Digital Asset (Asset)” means any digital asset (including a virtual currency) which is a digital representation of value based on or built on top of a cryptographic protocol of a computer network (e.g. bitcoin, ether and litecoin).
“Fees” means any type of fee collected by FWS such as commission and services fees. Fiat currency” means government-issued currency, that is designated as legal tender in its country of issuance through government decree, regulation, or law. “Freeze” or “Account Freeze” refers to the temporary suspension or restriction of certain account functionalities, including but not limited to buying, selling, converting, and transferring Funds within the account. During the account freeze period, a User is unable to perform any transactions until the freeze is lifted or resolved.
“Funds” means Digital Assets and/or USD currency. “Instant Buy” means a trading service into which the User can buy Digital Assets immediately (instantly) from Fiat currency
“Market Manipulation” means actions taken by any User or a person acting in concert with a User which are intended to (i) deceive or mislead other Users; (ii) artificially control or manipulate the price or trading volume of Funds; (iii) aid, abet, enable, finance, support or endorse either of the above.
“Order” means the User’s instruction to buy or sell Digital Asset. “Restricted Location” means a state where FWS is not permitted to provide services (e.g. New York). For information concerning the jurisdictions where we can operate, see Licenses and Registrations.
“Rounding Policy” means the rules and methods applied by FWS when determining the price and quantity of cryptocurrencies in trading Transactions. “Services” means all and any technologies, products and/or functionalities provided by FWS . “Site” means the online platform or website operated by FWS through which services are provided to you. It’s the place where we offer our services to you, providing a digital environment with all the features and tools you need to access and use our services. This includes Apps (e.g. mobile applications), websites, and application program interfaces. “Transaction[s]” refers to when you buy, sell, send, convert, or carry out other transactions in Assets.
“Transaction Details” means details of the transaction, including, but not limited to recipient's wallet address, payment details, bank account information, etc. “Withdrawal” means a Transaction involving a transfer of Funds from a user’s account to your bank account or to an account opened in any other financial institution
2.1. Digital Assets and associated activities involve a significant amount of risk. Prices can fluctuate, often significantly, on any given day. Because of such price fluctuations, you may gain or lose value of your assets at any given moment. Digital Assets may be subject to large swings in value and may even become completely worthless. There is always an inherent risk that losses will occur as a result of buying, selling, or trading anything on the market. Digital Asset trading has specific risks, which are not shared with other official currencies, goods, or commodities in a market
2.2. Taxes may be payable on any return and/or on any increase in the value of your Digital Assets and you should seek independent advice on your tax obligations. FWS is not responsible for any violation made by the User due to his/her obligation to calculate and pay taxes and duties
2.3. Digital Assets are not legal tender and are not backed by the government. FWS is not a bank and FWS Accounts are NOT subject to Federal Deposit Insurance Corporation (FDIC) or Securities Investor Protection Corporation (SIPC) protections.
2.4. Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange, and value of Digital Assets.
2.5. Transactions in Digital Assets may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. Some Digital Assets transactions shall be deemed to be made when recorded on a public ledger, which is not necessarily the date or time that the customer initiates the Transaction. The value of Digital Assets may be derived from the continued willingness of market participants to exchange USD currency for Digital Assets and Digital Assets for Digital Assets, which may result in the potential for a permanent and total loss of value of a particular Digital Asset should the market for that Digital Asset disappear
2.6. The nature of Digital Assets may lead to an increased risk of fraud or cyber-attack. The nature of Digital Assets means that any technological difficulties experienced by FWS may prevent the access or use of a User's Digital Assets.
2.7. Any account maintained by FWS for the benefit of its Users may not be sufficient to cover all losses incurred by Users. There may be additional risks, which have not been foreseen or identified in the current Terms of Use. Carefully assess whether your financial situation and tolerance for risk is suitable for buying/selling/trading Digital Assets.
2.8. FWS does not provide any financial, investment or legal advice in connection with the Services provided by FWS . While our products and services may involve the use of various digital assets, it is essential to understand that our company does not endorse, promote, or provide any investment advice or recommendation regarding these digital assets.The inclusion of any specific digital asset within our products and services should not be construed as an endorsement or validation of its value, utility, or potential investment merit. Users are solely responsible for conducting their own research and making informed decisions concerning the use and involvement of digital assets. Our company disclaims any association, sponsorship, or endorsement of any particular digital asset, and we encourage users to exercise caution and diligence when dealing with digital assets within the scope of our products and services.
2.9. FWS may provide information on the price, range, volatility of Digital Assets, and events that have affected the price of Digital Assets, but it should not be considered as an investment or financial advice and should not be construed as such. Any decision to buy or sell Digital Assets is Your decision and FWS will not be liable for any loss suffered. You should conduct your own research regarding Digital Assets.
3.1. Generally, our Site allows users to buy, sell, and convert Digital Assets. The range of services offered depends upon your state of residence and whether you are a person or institution, corporation or other legal entity. We may, in our sole discretion and without liability to you, with or without prior notice and at any time, modify or discontinue, temporarily or permanently, any portion of our Services. Services include, but are not limited to.
Instant Buy / Sell General. Instant Buy / Sell, allows users to buy or sell Digital Assets for a fixed price quoted by FWS in USD currency. Digital Asset purchases and sales made via Instant Buy / Sell are filled entirely at a single price. Your use of Instant Buy / Sell must comply with the aforementioned requirements found in these Terms.
Bundle. The FWS Bundle is a feature of the Instant Buy service that allows you to purchase Digital Assets in a single-click transaction, subject to our current fees for purchasing Digital Assets. The Digital Assets available for Instant Buy are made available by FWS at its sole discretion.
All pricing or performance data related to the Instant Buy is for informational purposes only. The Instant Buy is not an offer to purchase any single security, investment, or financial instrument. The Instant Buy offer is not a recommendation to buy, sell or hold any Digital Assets or any amount of Digital Assets and does not constitute investment advice, financial advice, or trading advice.
Transaction Price. The quoted price is locked-in a specific time period (typically 2 minutes), upon which it is recalculated if the user has not confirmed the purchase. Once the user confirms the purchase, however, the price is set.
FWS Prime General. FWS Prime is a technical solution for institutional clients which provides two-sided (buy and sell) aggregated liquidity, available via web and API. Prime aggregates liquidity from the reputable regulated exchanges. The users of Prime thereby have uniform access to multiple sources of liquidity in one place. The smart order router determines the most optimal execution and executes the order at the best possible price. This aggregation of liquidity and order routing is available via a proprietary technical solution called Aggregator. The Aggregator is a smart order router that performs the optimal order execution, from price and time perspectives, given the combined available liquidity on multiple trading venues.
Wallet General. Your FWS Wallet allows you to deposit, withdraw, and convert select Digital Assets. You are not able to store USD currency in this wallet. Your Digital Assets are not insured by the FDIC or SIPC. Under no circumstances should you attempt to use your FWS Wallet to store, send, request, or receive any assets other than supported Digital Assets. FWS assumes no responsibility in connection with any attempt to use your FWS wallet with Digital Assets that we do not support. You understand and agree that FWS is not liable for any unsupported Digital Asset that is sent to a wallet associated with your FWS Account. In order to view our current list of supported Digital Assets, please log into your Account.
4.1. By registering an Account, you expressly represent and warrant that you: will follow the rules and lAWS of your jurisdiction from where you will access the Site; are not located in a Restricted Location; are at least 18 years old and have the legal capacity to accept these Terms and participate in transactions involving Digital Assets; have not been previously removed or suspended from the Site; you have the authority and legal capacity to accept these Terms of Use and participate in transactions involving Digital Assets;
4.2. You agree that you will not grant any person or organization access to your User Account, except as described herein, as granting access may violate Applicable LAWS and Regulations.
5.1. FWS makes money when you buy, sell or convert digital assets. We reserve the right to charge for, or change the fees associated with, the use of the Site at any time subject to reasonable notice and these Terms. For information on fees see the FWS Limits and Commissions page.
5.2. Prior to using the Services, you must consider the fee rates published on the Fee Schedule page. However, FWS reserves the right to change the Transaction fee rates from time to time by publishing updates on the Fee Schedule page
5.3. The Transaction fee amount is automatically charged off in the currency indicated after symbol '/' in the trading pair after the relevant Transaction. Thus, for BTC/USD the fee is charged in USD; for ETH/BTC the fee is charged in BTC.
5.4. The minimum transaction fee equals the minimum currency amount. For Fiat currency, it equals 0.01, for Digital Asset it depends on the asset. The Transaction fee is charged according to the Rounding Policy described below
5.5. The minimum and maximum price, as well as the minimum and maximum Order amount, varies for each trading pair and can be seen on the Trade Page when placing an order.
5.6. For specific types of Orders, the Transaction fee may differ from those published on the 'Fee Schedule' page. The Transaction fee rate shall be disclosed before the Order execution.
5.7. The Transaction fee, other charges, as well as the charging procedure can be changed/reviewed unilaterally by FWS from time to time and such changes shall become effective the moment they are posted on the Site.
5.8. The User acknowledges and agrees that every Digital Asset network can deduct its own network fee.
5.9. FWS may charge network fees, sometimes called miner fees, to process Digital Asset Transactions on the User’s behalf. FWS will calculate the network fee at its discretion.
5.10. By using the Services, you agree to pay all applicable Fees.
6.1. At its sole discretion, FWS may offer Users an incentive, in the form of a trading fee balance credited to a User, to use the FWS Spot Trading platform. The trading fee balance is conditional, limited in size and in use.
6.2. Specific conditions (requirements) fulfillment of which may grant the User the trading fee balance (hereinafter - “Trading Fee Balance”) are up to FWS and subject to change without notice. The total Trading Fee Balance may consist of several parts, granted upon fulfillment of specific conditions, with separate expiration dates or remaining open-ended. Specific mechanics of how each specific Trading Fee Balance is granted, including but not limited to the landing page address, timing of the Trading Fee Balance delivery, are also up to FWS and subject to change without notice.
6.3. The mechanics and conditions to getting the Trading Fee Balance may include a few steps, e.g. corresponding to the User’s onboarding on the Platform, each of which may be rewarded with a separate Trading Fee Balance. The participation may include the need to opt-in. If opt-in is included as a condition to participation, only steps completed after the opt-in on the dedicated landing page count towards the potential eligibility for the Trading Fee Balance. Steps completed prior to the opt-in, when the opt-in is required, do not count towards the potential eligibility for the Trading Fee Balance.
6.4. The Trading Fee Balance can be issued in the form of a trading fee discount within the FWS Spot Trading product of a specific value in Tether (“USDT”) (or any other cryptocurrency) held on the User’s account, separate from the User's FWS Spot Trading usual account balance.
6.5. Depending on the type, the Trading Fee Balance may have either a specified expiration date or be open-ended. Please refer to the expiry date on the individual Trading Fee Balance that can be found on the User’s “Finances” page in the trading terminal.
6.6. In case the specific Trading Fee Balance has an expiration date, then after the expiry date, the remaining unused Trading Fee Balance will expire and be burned without the possibility of its further use. Any orders active after the expiration of a specific Trading Fee Balance will be fulfilled at the applicable fees charged from the User's other available Trading Fee Balances, if any. If no other specific Trading Fee Balance is available to the User, the applicable fees will be deducted from the User's FWS Spot Trading usual account balance.
6.7. In case the User receives an open-ended Trading Fee Balance, the User will be able to use the Trading Fee Balance on FWS Spot Trading until the User spends it. Notwithstanding the above, the User agrees that FWS reserves the right to unilaterally terminate such Trading Fee Balance and write off the unused portion of the Trading Fee Balance allocated to the User’s FWS Spot Trading account
6.8. The User is able to check his/her available Trading Fee Balance and its parts, if applicable, on the User’s “Finances” page in the trading terminal.
6.9. In case when, for example, the User has X amount of USDT on the Trading Fee Balance, and a trading fee for the order is Y amount of the second currency of a trading pair chosen (for example, for the ETH/BTC trading pair the fee will be calculated in BTC), then the equivalent of Y amount will be withdrawn from the User’s FWS Spot Trading Fee Balance at the FWS Spot Tradings current applicable spot market rate, which may be volatile.
6.10. In case the Trading Fee Balance can only cover a portion of the applicable trading fees on the FWS Spot Trading product, then the portion of the trading fees will be covered by the Trading Fee Balance, while the remaining trading fees will be charged as usual from the User’s FWS Spot Trading accounts balance.
6.11. If there is another unexpired Trading Fee Balance on a User’s FWS Spot Trading’s account, this balance will be used automatically towards the applicable FWS Spot Trading fees
6.12. Trading Fee Balance can only be used as a discount towards applicable trading fees on FWS Spot Trading. Trading Fee Balance cannot be traded, exchanged, transferred, or withdrawn for equivalent currency or equivalent digital assets. The Trading Fee Balance can be used only to cover trading fees of the FWS Spot Trading and no other FWS products.
6.13. In the event of FWS and/or FWS Spot Trading initiates Platform and/or Service maintenance, repairs, upgrades, or any Force Majeure Event (as specified in the Terms of Use), the Trading Fee Balance may be suspended for a period of time until FWS and/or FWS Spot Trading resumes or is reasonably expected resume its Service
6.14. FWS may change, extend, freeze, terminate, cancel, or retrieve (write off) the Trading Fee Balance before the expiration date and the open-ended Trading Fee Balance, whether or not with notice. This may happen for several reasons, including, but not limited to, a violation of the Terms of Use or other legal documentation and/or Policy by the User, potential services abuse, a risk of money laundering and/or other suspected illicit activities, and/or other activities or behaviors. These, in FWS ’s sole and absolute discretionary power, may disqualify the User for the Trading Fee Balance, and/or may deem the User unfit to participate further in this promotion
6.15. In order to comply with local regulations, certain features may not be available or may become unavailable in the User’s region
6.16. For more information regarding the FWS Spot Trading product’s Trading Fee Balance functionality please refer to FWS Help Center
6.17. While the Trading Fee Balance represents a discount to the FWS Spot Trading fees, the User should determine any potential individual tax obligations and possibly seek independent tax advice.
7.1. FWS uses third party payment processors to process any US currency payment between you and FWS , including but not limited to payments in relation to your use of our Site. The name on your linked bank account must match the name verified on your Account(s).
8.1. FWS uses the Rounding Policy in the favour of the Platform on all financial transactions. FWS rounds Fiat currencies to the second digit after the separator. The Rounding Policy for Cryptocurrencies varies depending on Cryptocurrency
8.2. For the purpose of the processes optimization, transactions on the Platform with regard to some items (including, but not limited to currencies, Cryptocurrencies, etc.) will not be reflected at the User’s Account and will appear as the next whole unit in accordance with the Rounding standards.
9.1. You acknowledge and agree that we may process personal data, including sensitive and biometric data, in relation to you. Please review our Privacy Policy for more information on how we collect and process personal information relating to the Site.
9.2. When you open or log into your FWS Account, your personal information will be stored by FWS in accordance with all applicable regulations. All users are subject to our KYC/CDD procedures prior to using our services. Unauthorized access to Your FWS Account by unregistered Users may result in the termination of all related FWS Accounts
9.3. You are responsible for maintaining the confidentiality of his Account’s credentials, including, but not limited to a password, email, wallet address, balance, and of all activity including Transactions made through the Account. FWS personnel will never ask you to disclose this password. We recommend that you change your password every three months in order to reduce the risk of a security breach in relation to the Account. If you have any security concerns about your Account, login details, password, or other security feature being lost, stolen, misappropriated, used without authorization, or otherwise compromised, you must change the password. Contact Support Service at support@FWS as soon as possible upon becoming aware of any loss, theft, misappropriation, or unauthorized use of your Account, login details, password, or other security features. Any undue delay in notifying FWS may not only affect the security of the Account but may result in you being liable for any losses as a result. If you suspect that someone else accessed your Account, you should also contact any appropriate government agency to report the incident.
9.4. You must take reasonable care to ensure that your email account(s) are secure and only accessed by you, as your email accounts(s) may be used to reset passwords or to communicate with you about the security of the Account. FWS cannot be liable for the breach of an email account resulting in an unauthorized Transaction executed without proper confirmation. Should the email addresses registered with your Accounts be compromised, you should, without undue delay after becoming aware, contact Support Service at support@FWS as well as contact your email service provider.Promptly reporting a security breach does not guarantee that FWS will reimburse you for any losses incurred, nor will FWS be held liable for any losses resulting from the security breach.
9.5. Additional products or services accessed by you may have additional security requirements and you must comply with those security requirements as well.
9.6. Irrespective of whether the User is using a public, a shared or his/her own computer to access the Account, the User must always ensure that his/her login details are not stored by the browser, cached, or otherwise recorded. The User should never use any functionality that allows login details or passwords to be stored by the computer he/she is using.
9.7. Two-factor authentication must be enabled in order to make any withdrawals. FWS maintains multi-vector security settings to protect your assets and FWS ecosystem from bad actors. We closely monitor the potential vulnerability of users who may be more likely a target for fraudsters and/or susceptible to fraud
9.8. FWS reserves the right to require a “live communication by webcam or liveness check“ via User’s mobile phone with User to confirm any details or respond to your customer services requests. Such requests will only ever be made via in-app chat or from a FWS domain email
9.9. FWS is aware that scammers can potentially target any digital asset platform providers with fake sites and fake customer service provision. You therefore agree to check any incoming messages to you which appear to originate from FWS by checking the originating email address and website address; no variations should be accepted by you other than a FWS suffix/domain. If you are unsure, never click on any suspicious link and contact FWS with your User number on support@FWS for support. FWS will never seek “remote access“ to your Account; if you are asked by anyone purporting to be from FWS to supply access to your screen, immediately halt communications, change your password and contact Customer Services to advise us you may have been targeted by a scammer.
9.10. FWS will aim to support any Account restrictions you wish to put in place from our “Additional Customer-Driven Security Options“. These may change from time to time, but include: limit alerts sending restrictions two-factor authentication pre-transaction re-verification/advance advice; and other measures
9.11. You agree that changes to your Account settings which reduce your security may require verification to ensure we are engaging with you as a legitimate User
10.1. Consent to the Collection, Storage, Use, and Transmission of Biometric Data. When you create your Account, FWS or its subcontractor may collect, store, use, and transmit Biometric Data solely for identity verification and fraud prevention purposes. By creating the Account, you authorize FWS or its subcontractor to carry out these actions with your Biometric Data.
10.2. Disclosure of Biometric Data. FWS will protect your biometric data from unauthorized disclosure using reasonable measures consistent with industry standards. FWS will not disclose your Biometric Data to any person or entity other than our affiliates and subcontractors for the purposes specified in these Terms, unless (a) FWS has obtained your written consent; (b) the Biometric Data must be disclosed to complete a financial transaction authorized by you or otherwise to provide you with any Services; (c) disclosure is required by state or federal law; or (d) disclosure is required pursuant to a valid warrant or subpoena.
10.3. FWS will not sell, lease, or trade your biometric data.
10.4. Retention of Biometric Data and Destruction Schedule. FWS will permanently destroy your Biometric Data when either (a) the initial purpose for collecting or obtaining such data has been satisfied or (b) the record retention rules have been satisfied.
11.1. USA Patriot Act Notification. As a licensed financial institution and Money Services Business in the United States, FWS Corp. must comply with Section 326 of the USA PATRIOT ACT; which requires all financial institutions to obtain, verify, and record personal information that identifies each person who opens the Account. This federal requirement applies to all Users. This personal information is used to assist the United States government in the fight against the funding of terrorism and money-laundering activities. For further information regarding our use and storage of your personally identifying information, please refer to FWS Corp.’s Privacy Policy.
11.2. In order to create an account, you must provide the required identification information pursuant to our Bank Secrecy Act (“BSA”) and Anti-Money Laundering (“AML”) Compliance Program (collectively, our “BSA/AML Program”).
11.3. Identification and verification procedures (also known as 'Know Your Customer' or 'KYC') are required for all Transactions. All new and existing Users of the Platform must pass the verification procedures. FWS reserves the right to limit the Platform functionality to Users who have not passed verification. If you refuse to provide required documents and information under KYC procedures, FWS reserves the right to immediately terminate the Services provided to you.
11.4. You undertake to provide FWS with correct and relevant documents and personal information. If a User provides counterfeit documents or false personal information, such behavior will be interpreted as fraudulent activity and reported to the relevant governmental authorities.
11.5. FWS may conduct periodic reviews of the User account information as mandated by FWS regulators. To ensure compliance with the applicable regulations, FWS must represent that the personal information and account information used to compile the User customer profile is up to date and accurate.
11.6. You hereby authorize FWS to, directly or indirectly (through third parties), make any inquiries as we consider it necessary to check the relevance and accuracy of the information provided for verification purposes. Personal information transferred will be limited to only the data that is strictly necessary and will only be transmitted with security measures in place to protect the data.
11.7. You agree, represent, and warrant that any Digital Assets deposited to your Account, as well as any Fiat currency used in connection with the Site, belong to you and are sourced lawfully. Furthermore, you affirm that all funds in your account, past or future, in your Account, are not the direct or indirect proceeds of any criminal or fraudulent activity.
11.8. FWS has also the right to request you to provide additional verification documents even if you have already passed the verification process to ensure the effective implementation and enforcement of Bank Secrecy Act ('BSA') and KYC Policy and applicable regulatory requirements. If a User does not respond to such requirements in a timely manner FWS has a right to limit its Services or to stop providing them until the requirements are met.
11.9. In order to use any of the Service(s), you must first register to use the Service(s) by providing your email and/or mobile phone number, full name, date of birth, residential address, government identification number, taxpayer identification number and other personal or company information to verify your identity along with affirming these Terms.
11.10. You are allowed to register only one Account on the Platform. Thus, any additional Account created by the same User may be suspended or closed.
11.11. You also agree that all actions conducted on your Account are recognized as those made on your behalf and at your own discretion.
11.12. You agree to provide us accurate and authentic information we request at registration and on an ongoing basis for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime, including without limitation a copy of your government issued photo ID, or evidence of residency such as a lease or utility bill. You further certify under penalty of perjury that all information provided by you is correct, accurate and authentic.
11.13. If any information provided by you changes, it is your obligation to provide to FWS such updated information as soon as possible. We may, in our sole discretion, refuse to allow you to register to use the Service(s) or limit Users from registering multiple accounts. By registering an Account with FWS , you agree and represent that you will use that Account only for yourself, and not on behalf of any third party, unless approved by FWS . If you plan to use the Service(s) on behalf of a legal entity, such a legal entity shall register a corporate account with FWS and you shall not use your individual account for business purposes.
12.1. Your conduct on the Site is subject to compliance with the following l FWS and regulations, but please note that this list is not exhaustive.
The Bank Secrecy Act of 1970 (“BSA”); The USA PATRIOT Act of 2001 (“PATRIOT Act”); Money Services Business (“MSB”) regulations under the Financial Crimes Enforcement Network (“FinCEN”); Applicable state money transmission lAWS (“MTL”); Applicable regulations and guidance set forth by FinCEN; Applicable regulations and guidance set forth by Internal Revenue Service (“IRS”) and applicable state taxation authorities; and Applicable regulations and guidance set forth by the Federal Trade Commission (“FTC”).
12.2. You agree and understand that by signing up and using FWS Services in any capacity, you agree to act with compliance, and are legally bound by these Terms, and all applicable lAWS and regulations.
13.1. You must not use your FWS Account to undertake any of the activities set out in this section (each a “Prohibited Activity”):
violation of any lAWS , statutes, ordinance or regulations; undertaking, facilitating or supporting criminal activity of any kind, including but no limited to, money laundering, malicious hacking, terrorist financing, or proliferation of weapons of mass destruction; human trafficking; any goods or services that are illegal or the promotion, offer or marketing of which is illegal or that are offered in connection with illegal, obscene or pornographic content, depict children or minors in sexual postures, depict means of propaganda or signs of unconstitutional organizations glorifying war or violating human dignity; intellectual property infringement; archaeological findings; drugs, narcotics or hallucinogens;
weapons of any kind; illegal gambling services; ponzi, pyramid or any other “get rich quick” schemes; goods that are subject to any trade embargo; media that is harmful to minors and violates lAWS and, in particular, the provision in respect of the protection of minors; body parts or human remains; protected animals or protected plants; transactions involving dark web networks (e.g. TOR, I2P and Freenet); weapons or explosive materials; any other illegal goods, services or transactions; and any Market Manipulation. Users are prohibited from engaging in any kind of market manipulation actions which specifically includes, without limitation: front-running, wash trading, spoofing, layering, churning, and quote stuffing. This may include actions on FWS Platform and/or outside of FWS Platform. Actions regarded by FWS as market manipulation will result in blocking User's Account on the Platform with the right to use blocked Funds for reimbursement of negative consequences appeared due to mentioned manipulation at sole discretion of FWS .
13.2. Activities subject to the prior written approval of FWS . Unless you have obtained the prior written approval of FWS , you accept and agree that you will not use your FWS Account to conduct or operate any of the following business activities or categories of activity:
money services, including but not limited to money or digital asset transmission, currency or digital asset exchange or dealing, payment service providers, e-money or any other financial services business; charitable or religious / spiritual organizations; consumer lending services, including but not limited to secured and unsecured loans, cash advances, payday lending; and investment funds, asset management, or brokerage services.
13.3. We reserve the right to restrict, suspend or terminate your FWS Account if we suspect, in our sole discretion, that you are using, or have used, your FWS Account in association with any of the activities listed above, or any similar or related activity, without having obtained the prior written approval of FWS .
14.1. FWS prohibits the use, facilitation, or movement of Funds on our Platform which contribute to illegal gambling. As such, you agree and acknowledge that FWS has the right to: conduct an investigation into the source or use of Funds in your Account, related to gambling; suspend or Freeze your access to his Account or Funds in his Account, or terminate your Account;
if we suspect, in our sole discretion, any such activity to be in violation of FWS Gambling Policy. 14.2. FWS uses a variety of applications to monitor for violations of our Gambling Policy. If FWS suspects you may work or associate with any industry that is closely related, intertwined or in close proximity to gambling, we may, in our sole discretion, ask you to sign a Gambling
Attestation, certifying that you will not use FWS or any of our Services to facilitate any illegal gambling activities.
15.1. Your use of FWS Services and the Site is subject to applicable requirements under export control lAWS and sanctions. By sending, receiving, buying, selling, converting, trading, or storing Digital Assets through any FWS service, you agree that you will comply with all applicable lAWS . By using FWS services, you agree and warrant that you are not an individual or entity that is the subject or target of any sanctions and that you are not an entity directly or indirectly owned or controlled by any person located, organized or resident in a sanctioned jurisdiction or any person listed on the Sectoral Sanctions Identifications List (“SDN List”) list or other similar lists maintained by a any other relevant government authority; named in any sanctions-related list maintained by the U.S. Department of State, the U.S. Department of Commerce, or the U.S. Department of the Treasury, including the Office of Foreign Assets Control’s Specially Designated Nationals and Blocked Persons List, the SDN List or any similar list maintained by any other relevant governmental authority; organized, or resident in a sanctioned jurisdiction (currently, Crimea, Donetsk, Luhansk, Cuba, Iran, North Korea, and Syria).
15.2. You are not permitted to use any of our Services if: (1) we are prohibited from providing Services to you under any applicable lAWS and regulations, including but not limited to applicable Sanctions; or (2) you intend to transact or deal with any Sanctioned Person, or otherwise transact or deal with any person in violation of Sanctions.
16.1. You agree and acknowledge that based on FWS regulatory obligations, FWS has a duty to investigate any activity that may be unusual, suspicious, and/or in furtherance of an attempted violation of applicable law or FWS Policy.
16.2. During the course of FWS Corp.’s account investigation, FWS may: (1) Freeze a User Account and all Accounts beneficially owned by you and any members of such User’s household, or for which you are a representative or authorized signatory and, in the case of entities, any affiliate; (2) Freeze any Funds or assets in the Account while the investigation is being conducted; (3) Suspend your access to FWS Services or any affiliated FWS Platforms, until a determination has been made, if we suspect, in our sole discretion, you and/or any related accounts under common control to be in violation of: (i) any provision of these Terms of Use; (ii) the BSA/AML Program; (iii) any applicable lAWS or regulations by any of FWS regulators; (iv) any of FWS applicable Policies as incorporated by reference herein.
16.3. You further agree and understand that until a final determination or conclusion of the account investigation occurs, FWS may Freeze or suspend your Account, including but not limited to, under the following scenarios:
You and/or your Account are subject to any pending litigation, investigation, or governmental proceeding. You and/or your Account are being investigated by a regulatory authority, subject to a court order, facially valid subpoena, or binding order of a government authority. Your Account has a negative balance for any reason. We believe an unauthorized person is attempting to access your Account. There is unusual or suspicious activity on the Account. Your Account has been accessed from a sanctioned jurisdiction or a jurisdiction FWS is not authorized to operate.
17.1. Payment Methods. Our services allow for a variety of convenient payment options, including but not limited to Apple Pay, Google Pay, credit card and debit card. You must own the payment method. Upon receipt of your instructions to purchase Digital Assets, FWS can not cancel this purchase. You cannot withdraw your consent to that purchase.
17.2. By agreeing to use the Site’s services, you understand and accept that processing of any of your payments is executed by the payment service provider, and there is no statutory right of revocation of already purchased goods and/or services or any other opportunities to cancel the payment.The payment service provider is not responsible for any failure to process the data related to your payment card, or for the issuing bank’s refusal to provide authorization of the payment with your payment card. The payment service provider is not responsible for the quality, quantity, price, terms of use of any goods and/or services or other facilities offered to you or purchased by you from the Site by using your payment card. When you pay for any of the Sites goods and/or services, you are primarily bound by the Sites Terms of Use. Please note that only you, as the cardholder, are responsible for paying for all goods and/or services you have ordered through the Site and for any additional expenses/fees that can be applied to this payment. The payment service provider acts only as the executor of the payment in the amount stated by the Site, and it is not responsible for pricing, total prices, and/or total sums.
17.3. Transaction Limits. Please be aware that the utilization of our Services is subject to transaction limits, which are defined in U.S. Dollar terms and apply over a specific period (e.g., daily). To access and review your current transaction limits, kindly log in to your FWS and visit FWS ’s Limits and Commissions webpage. These transaction limits may vary based on the chosen payment method, completed verification steps, and other relevant factors. If you desire to increase your transaction limits beyond the preset amounts, you have the option to submit a request through support@FWS . However, it is essential to note that FWS reserves the right to modify applicable limits and may choose not to raise them based on our sole discretion, as we deem necessary
17.4. Unauthorized and Incorrect Transactions. If you become aware of any suspicious or unauthorized use of your account(s) or login credentials, please notify us immediately at support@FWS . Reporting an unauthorized transaction does not guarantee FWS will be able to reverse the transaction or reimburse you for the transaction.
17.5. Should a User receive an amount exceeding the withdrawal amount requested by the User pursuant to the Platform’s technical problem/error/glitch, the User undertakes to immediately notify FWS and to return the excess amount to the User’s FWS Account. In such instances, the User agrees that FWS has a right to unilaterally withdraw this excess amount from the User’s FWS Account without notification. Should FWS become aware of such Platform’s technical problem/error/glitch and that the User has received the amount exceeding the requested withdrawal amount, the User acknowledges and agrees that FWS has a right to switch off withdrawals on the User’s FWS Account. When FWS became aware of such Platform’s technical problem/error/glitch and requested the User to return the excess amount to his FWS Account, but the User does not return the requested Funds within 60 (sixty) calendar days, FWS reserves the right to unilaterally sell the User’s Cryptocurrency that it has in its FWS Account in the necessary proportional amount at any moment thereafter by market order and to use the proceeds to set off the debt that the User owes to FWS .FWS has a right to claim the full cover of the exceeding amount using all available legal options, including by selling a User’s Cryptocurrency.
17.6. Insufficient Balances. If you choose to use a card (e.g. credit or debit card) for purchasing Digital Assets, you acknowledge and agree that you will not initiate a chargeback unless it is for unauthorized use of the debit card or as explicitly allowed by applicable law. A chargeback is a process where a credit or debit cardholder disputes a transaction, leading to a potential reversal of the transaction and return of funds to the cardholder's account. This can occur in cases of unauthorized, fraudulent, or unsatisfactory transactions. In such cases, we will fully cooperate to resolve any legitimate disputes. We will not issue refunds for any purpose other than as otherwise permitted by law, and this includes instances of insufficient balances in the debit card account. By proceeding with the purchase, you confirm your understanding and acceptance of these terms.
17.7. Deposits, Withdrawals and Double Spending. You will only withdraw any Digital Assets from your Account to wallets you own (custodial and non-custodial). Under no circumstance will you send payments to third parties or receive payments from third parties. FWS shall incur no liability for payments made to third parties or accounts which don’t belong to you
17.8. Transactions. FWS allows you to submit Orders to buy or sell Digital Assets. You recognize that an Order should only be submitted after careful consideration and conducting your own research. You agree that as soon as the Order is executed, such Transaction is irreversible and may not be cancelled. Transactions will be executed instantly upon the matching of the buyer's and the seller's Orders without prior notice to the buyer and the seller and will be considered to have taken place at the execution date and time.
17.9. You are responsible for properly checking and filling in all Transaction details during the Deposit or the Withdrawal of Digital Asset or Fiat.
17.10. You acknowledge and agree that if Transaction details are not specified or are incorrectly indicated within the Transaction the User may lose his/her funds.
17.11. Minimum and maximum Order amounts may vary for each trading pair and can be seen on the trade page when placing an Order.
17.12. You also acknowledge and agree that Deposit and Withdrawal transactions in Fiat currency may be delayed due to some bank verifications and checks. Similarly, and due to the inherent nature of the Digital Asset networks, depositing and withdrawing Digital Asset into/from your Account may take some time.
17.13. Unverified Users are not allowed to withdraw any Digital Asset from their Account within forty-eight (48) hours after the Account was created.
17.14. If the User discovers transaction unusual activity, including but not limited to unknown deposits and withdrawals, on their Account that was not initiated by the User, the User shall immediately notify FWS of this fact and follow the instructions sent by FWS . Otherwise, FWS reserves the right to freeze the Account until the end of the investigation
17.15. FWS may be forced to cancel or recall already executed Withdrawal transaction at the request of financial institutions, including but not limited to banks, which are involved in the settlement of such transactions. In such cases, the User obliges to cooperate with FWS in order to discover the reasons for such request.
17.16. The minimum Deposit amount for Ethereum (ETH) is 0.001, for other Cryptocurrencies, such as Bitcoin (BTC), Bitcoin Cash (BCH), DASH, and Bitcoin Gold (BTG) minimum deposit amount is 0.0001. If the amount is less than specified, the funds will not be credited to the User's Account.
17.17. FWS has not supported the old type of ETH address since the 1st day of August 2018. You acknowledge and agree that any Deposits sent to the old type of FWS ETH address cannot be recovered and you may lose his/her funds.
17.18. FWS reserves the right but not an obligation at the User’s request to recover in certain situations incorrectly sent by the User to its FWS account Cryptocurrency Deposit. Detailed process and all conditions of such recovery together with the Application Form are available here.
17.19. The User acknowledges and agrees that the attempt to recover the incorrectly sent Cryptocurrency Deposit incurs a non-refundable fee of 10% from the Cryptocurrency Deposit amount, but not less than 100 (one hundred) USD in your Deposit Cryptocurrency equivalent. This fee will be calculated from the original amount of the User’s Deposit and charged in the Deposits Cryptocurrency
17.20. The User agrees that the FWS team can start the Cryptocurrency Deposit recovery process only if the User has a sufficient amount of funds on its Account to cover this Cryptocurrency recovery fee.
17.21. The User acknowledges and agrees that this recovery fee will be charged regardless of the recovery outcome as the FWS team uses significant resources to investigate the case, develop, and implement technical solutions.
17.22. The User acknowledges and agrees that the decision to recover a Cryptocurrency Deposit incorrectly sent by the User remains fully at the sole discretion of the FWS team, as it will investigate every case and estimate whether or not it can attempt to recover these funds.
17.23. FWS also reserves the right but not an obligation at the User’s request to recover in certain situations incorrectly sent by the User Fiat Withdrawals in a case when: a) the User made a mistake in bank details or b) the beneficiary's bank is in a high-risk area. Detailed process and all conditions of such recovery together with the Application Form are available here.
17.24. The User acknowledges and agrees that the attempt to recover the incorrectly sent Fiat Withdrawals incurs a non-refundable fee in the amount of 50 (fifty) USD.
17.25. The User agrees that the FWS team can start recovering Fiat incorrectly sent by the User only in instances where the User has the sufficient amount of funds on its Account to cover this fiat recovery fee.
17.26. During the internal Users migration between FWS companies process or system upgrades, FWS reserves the right to implement the following temporary restrictions without prior notice: Suspension of User internal transfers within FWS products: FWS may temporarily suspend User’s internal transfers within FWS products to maintain the integrity, safety and accuracy of User’s funds during the migration process. Suspension of creation of new User Orders: FWS may temporarily suspend Users’ ability to create new Orders to maintain stability and consistency in the order book. Cancellation of open User Orders: All or some part of open User Orders may be canceled during the migration process to prevent conflicts with system upgrades and ensure a seamless transition. Internal transfers: within the internal Users migration FWS can transfer Users funds within FWS ’s products to maintain the integrity of User’s balances during the migration. The User agrees that within such internal transfers the Rounding Policies may apply
17.27. These restrictions are implemented to safeguard User assets and to facilitate the successful completion of the migration process. FWS will make reasonable efforts to minimize downtime and disruptions to Users' trading activities. Users are encouraged to review FWS announcements for updates and timelines related to migration and system upgrades.