Terms of Use
Terms of use for TheBroker AI-Trading Platform
Last updated: 29 September 2022
The Broker Terms of Use
I. Definitions
The Broker: Refers to the company providing the digital asset trading and exchange services.
The Broker Accounts: Refers to the individual accounts created by users on The Broker platform for the purpose of trading digital assets.
The Broker Operators: Refers to the individuals or entities who manage and operate The Broker platform.
The Broker Services: Refers to the various services offered by The Broker, including but not limited to buying, selling, and exchanging digital assets.
The Broker Platform Rules: Refers to the guidelines, rules, and regulations that govern the use of The Broker platform and services.
Digital Currencies: Refers to virtual currencies that use cryptography for security and operate independently of a central bank.
Digital Assets: Refers to any asset that is in digital form, including but not limited to digital currencies.
KYC: Refers to the process of Know Your Customer, which involves verifying the identity of users on The Broker platform.
Loan/Lending: Refers to the lending of digital assets by users on The Broker platform.
Users: Refers to individuals who use The Broker platform and services.
II. General Provisions
- About These Terms
a. Contractual Relationship: These terms of use constitute a legally binding agreement between The Broker and users of the platform and services.
b. Changes to These Terms: The Broker reserves the right to make changes to these terms of use at any time, with or without prior notice to users.
c. Prohibition of Use: Users are prohibited from using The Broker platform and services for any illegal or unauthorized purposes, including but not limited to money laundering, fraud, and violation of applicable laws. - About The Broker: The Broker is a platform for buying, selling, and exchanging digital assets.
The Broker Account Registration and Requirements
a. Registration: Users must complete the account registration process in order to use The Broker services.
b. Eligibility: Users must meet certain eligibility criteria in order to open a The Broker account, including but not limited to being of legal age and possessing a valid government-issued ID.
c. User Identity Verification: The Broker may require users to provide additional information or documents for the purpose of verifying their identity.
d. Account Usage Requirements: Users must use their The Broker accounts in accordance with these terms of use and The Broker platform rules.
e. Account Security: Users are solely responsible for maintaining the security of their The Broker accounts, including but not limited to keeping their login credentials confidential and secure.
III. The Broker Services
- Scope of Services
The Platform is a digital platform that enables you to engage a broker to manage your assets and activate AI trading, whereby advanced algorithms are executed on your behalf. The Platform is designed to be user-friendly, however, it is essential to understand the Terms of Use before utilizing the platform. - Brokerage Fees
Upon engaging a broker through the Platform, you agree to pay a 10% brokerage fee, which will be deducted from the managed amount. This fee must be paid prior to any asset withdrawal and may not be sourced from TheBroker AI-Trading Platform. The brokerage fee compensates the broker for their services and expertise, as well as covers the costs of maintaining and updating the Platform. This fee may be in addition to other withdrawal fees and is intended to cover all associated costs. - AI Trading
The Platform also allows you to activate AI trading, whereby advanced algorithms are executed on your behalf. In this scenario, the funds utilized for trading with AI will be locked in a smart contract. A smart contract is a digital agreement that automatically executes its conditions when certain criteria are met. This ensures that trades are executed as per your instructions and assets are protected. - Smart Contract Fees
A smart contract fee equivalent to 20% of the total amount locked in the smart contract will be levied upon closure of the trade. This fee must be paid before accessing the locked amount and may not be sourced from TheBroker AI-Trading Platform. This fee covers the cost of utilizing the AI trading function and other fees may apply in connection with asset withdrawal. In the event that you choose to close the trade, a fee of 20% of the total amount locked in the smart contract for AI trading must be paid prior to accessing the locked amount. This fee may not be sourced from TheBroker AI-Trading Platform and may be in addition to other withdrawal fees. - Service Usage Guidelines
a. License: The Broker grants users a limited, non-exclusive, non-transferable license to use The Broker services, subject to these terms of use and The Broker platform rules.
b. Restriction: Users are prohibited from reproducing, duplicating, copying, selling, or exploiting The Broker services for any commercial purposes without the express written consent of The Broker.
The Broker Convert Services: The Broker offers a digital asset conversion service that allows users to convert one digital asset into another. - Privacy and Data Protection
TheBroker AI-Trading Platform recognizes the importance of privacy and data protection, and we are committed to safeguarding the personal information of our users. Our Privacy Policy outlines the manner in which we collect, use, disclose, and protect personal information in accordance with the EU General Data Protection Regulation (GDPR). By utilizing the Platform, you acknowledge and agree to the terms of our Privacy Policy.
IV. Liabilities
Warranty Disclaimer: The Broker does not provide any warranties, either express or implied, regarding the platform and services offered by The Broker, including but not limited to the accuracy, reliability, and completeness of any information.
V. Announcements
This section outlines the policies and procedures for making announcements or updates related to The Broker services and platform. The Broker reserves the right to make announcements or updates at its discretion and may choose to send notifications to users via email, in-app notifications, or through other means.
VI. Termination of Agreement
- Suspension of The Broker Accounts: The Broker reserves the right to temporarily or permanently suspend a user’s account if they violate these terms of use or The Broker platform rules.
- Cancellation of The Broker Accounts: Users may cancel their The Broker accounts at any time by following the procedures outlined by The Broker.
- Remaining Funds After The Broker Account Termination: In the event that a user’s account is terminated, any remaining funds in the account will be subject to The Broker’s policies regarding abandoned or unclaimed property.
- Remaining Funds After The Broker Account Termination Due to Fraud, Violation of Law, or Violation of These Terms: In the event that a user’s account is terminated due to fraud, violation of law, or violation of these terms of use, The Broker reserves the right to retain any remaining funds in the account.
- Dormant Accounts: The Broker may choose to close or deactivate accounts that have been inactive for an extended period of time.
VII. Compliance with Local Laws
Users must comply with all applicable local laws and regulations when using The Broker services and platform, including but not limited to regulations related to digital currencies and digital assets. The Broker may take steps to comply with local laws and regulations and may need to suspend or terminate a user’s account if they violate these laws and regulations.
VIII. Resolving Disputes: Forum, Arbitration, Class Action Waiver
- Notice of Claim and Dispute Resolution Period: Users must provide written notice of any claims or disputes within a specified period of time, as outlined by The Broker.
- Agreement to Arbitrate and Governing Law: Users agree to resolve any disputes through arbitration and to be bound by the governing law as outlined by The Broker.
- Class Action Waiver: Users waive their right to participate in class actions or class-wide arbitrations.
- Modifications: The Broker reserves the right to modify these dispute resolution procedures at any time.
- Severability: If any provision of these dispute resolution procedures is deemed invalid, the remaining provisions shall remain in full force and effect.
IX. Miscellaneous
- Independent Parties: The relationship between The Broker and users of the platform and services is that of independent parties and nothing contained in these terms of use shall be construed to create a partnership, joint venture, or agency relationship.
- Entire Agreement: These terms of use constitute the entire agreement between The Broker and users of the platform and services, and supersedes all prior agreements and understandings, whether written or oral, relating to the use of The Broker services and platform.
- Interpretation and Revision: The Broker reserves the right to interpret and revise these terms of use at any time.
- Language & Translations: The original version of these terms of use is in the English language. Translations into other languages are provided for convenience only and shall not be binding on The Broker.
- Force Majeure: The Broker shall not be liable for any delays or failure in performance caused by acts of nature, war, terrorism, strikes, or other causes beyond its reasonable control.
- If any provision of these terms of use is deemed invalid, the remaining provisions will remain in full force and effect.
- Assignment: The Broker shall have the right to assign these terms of use, in whole or in part, to any third party without notice to the users. Users may not assign these terms of use without the prior written consent of The Broker.
- Waiver: The failure of The Broker to enforce any right or provision in these terms of use shall not constitute a waiver of such right or provision unless acknowledged and agreed to by us in writing.
- Third-Party Website Disclaimer: The Broker may provide links to third-party websites or resources. These links are provided for convenience only and The Broker is not responsible for the availability or accuracy of the content, products, or services on these websites. Users acknowledge sole responsibility for and assume all risk arising from their use of any such websites.
- Matters Related to Apple Inc.: If the services are accessed through an Apple Inc. (“Apple”) device, the users acknowledge and agree that Apple has no obligation to provide maintenance or support services for the services.
- Contact Information: The users may contact The Broker regarding these terms of use at legal@broker.ai.
