Welcome to Valor Markets Ltd! We are pleased to offer you our services. These Terms and Conditions (hereinafter the “Terms”) govern your use of our website https://www.valormarkets.com/ and the services we offer.
1. AUTHORIZATION TO TRADE
The Customer’s application to open an account with Valor Markets Ltd (trading as “Valor Markets”) binds them to the Terms and Conditions of this Agreement, and this action automatically acknowledges and accepts the Terms and Conditions listed below.
Valor Markets Ltd may maintain one (1) or more accounts in the name of the Customer. It may also conduct transactions for the Customer’s account based on verbal, written, or electronic instructions from the Customer and its officers, partners, principals, employees, and/or other agents (hereinafter referred to as “Representatives”).
The Customer will bear the risk of all unauthorized instructions administered by their Representatives. The Customer will indemnify and hold Valor Markets Ltd harmless from all claims, liabilities, losses, damages, fees, costs, and/or expenses relating to or arising from Valor Markets’ reliance on such instructions, including any improper, unauthorized, or fraudulent instructions by the Representatives, unless Valor Markets’ conduct was grossly negligent and/or willful.
All transactions between Valor Markets Ltd and the Customer shall be governed by the terms of this Agreement, as amended from time to time (including, without limitation, Valor Market’s Risk Disclosures and Trading Policies and Procedures, if applicable).
2. ACCOUNTS
2.1 ACCOUNT APPROVALS AND MAINTENANCE
Valor Markets Ltd reserves the right, in its sole and absolute discretion, to reject the Customer’s application and/or close the Customer’s account for any reason. Customers will be required to provide additional information and/or documentation to Valor Markets Ltd. This is being done to allow Valor Markets Ltd to continue servicing the Customer’s account.
At any time, at its sole and absolute discretion, Valor Markets Ltd may restrict trading, disbursements, and/or transfers administered by the Customer. The Agreement may be amended, changed, revised, supplemented, and/or modified at any time by Valor Markets Ltd. The most recent version of the Agreement will be published on https://www.valormarkets.com/. This Agreement cannot be modified by the Customer’s verbal and/or written statements or amendments without the prior written consent of the General Counsel of Valor Markets Ltd.
2.2 RESTRICTED TERRITORIES
Valor Markets Ltd reserves the right to restrict access to all and/or a portion of the Website and/or Services in the future with respect to certain jurisdictions. The Customer acknowledges and agrees that Valor Markets Ltd is not liable if the country in which the Customer resides or is located becomes restricted or blocked.
Restricted Territories include, but are not limited to: Afghanistan, Botswana, Burma (Myanmar), the Democratic Republic of Congo, Crimea, Cuba, Ethiopia, Iran, Iraq, Japan, Lebanon, Libya, Malta, North Korea, Pakistan, the Republic of Congo, the Russian Federation, Somalia, the Republic of South Africa, Sri Lanka, Sudan, Syria, Trinidad and Tobago, Tunisia, Vietnam, Yemen, Australia, New Zealand, and Zimbabwe.
The Customer acknowledges and agrees that accounts are only separated in the books and records of Valor Markets Ltd. The Customer also acknowledges that its funds are not insured and are deposited with a liquidity provider chosen at the sole discretion of Valor Markets Ltd.
2.2 MARGINS AND DEPOSIT REQUIREMENTS
The Customer shall provide and maintain margin in such amounts and in such forms as Valor Markets Ltd, in its sole discretion, may require.
Valor Markets Ltd may require the Customer to deposit additional margin via immediate wire transfer when and as required by the Company and will immediately meet all margin calls in such mode of transmission as Valor Markets Ltd shall, in its sole discretion, designate. Valor Markets Ltd may, at its sole discretion, limit the amount and/or total number of open positions that the Customer may acquire or maintain at Valor Markets Ltd.
Valor Markets Ltd reserves the right to close Customer’s accounts whenever deemed necessary. Valor Markets Ltd is not liable for any loss and/or damage caused, directly nor indirectly, by any events, actions or omissions, including – but not limited to – loss or damage caused, directly or indirectly, by any delays or inaccuracies in the transmission of orders and/or information due to a breakdown in or failure of any transmission or communication facilities.
2.3 ROLLOVERS
At the sole discretion of Valor Markets Ltd, the terms and/or methods for delivering, offsetting, or rolling over the Customer’s open positions may vary from Customer to Customer.
The Customer acknowledges and agrees that any positions held in the Customer’s account at 00:00 (GMT +2) may be rolled over to the following settlement date, and the account may be debited or credited for the interest differential for the rollover period.
2.4 SETTLEMENT DATE OFFSET INSTRUCTIONS
If the Customer fails to meet their obligations (such as providing funds, instructions, and/or delivery documents) by the specified time, Valor Markets Ltd reserves the right to take immediate action, without prior notice or request to the Customer.
This includes, but is not limited to, offsetting the Customer’s position(s), rolling over the Customer’s position(s) into the next settlement period, or making or receiving delivery on behalf of the Customer, under terms and methods deemed reasonable by Valor Markets Ltd in its sole discretion.
In such cases, Valor Markets Ltd may, at its discretion, block the Customer from taking further action on their account(s), and proceed with the necessary actions without asking for permission or instructions from the Customer. This may be done to protect Valor Markets’ interests, ensure proper settlement, or prevent any further risk, as deemed appropriate by Valor Markets Ltd.
2.5 LIQUIDATION OF ACCOUNTS
The Customer acknowledges the following account liquidation reasons:
i. death or judicial declaration of incompetency of the Customer or, in the case of a legal entity, its dissolution or liquidation;
ii. filing of a petition in bankruptcy, or a petition for the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against the Customer;
iii. filing of an attachment against any of the Customer’s accounts carried by Valor Markets Ltd;
iv. insufficient margin or determination by Valor Markets Ltd;
v. in its sole discretion, Valor Markets Ltd may take one or more of the following actions, or any portion thereof:
vi. sell or purchase any or all contracts, securities, or other property held or carried for the Customer; and
vii. cancel any or all outstanding orders or contracts, or other commitments made with the Customer.
Any of the aforementioned actions may be taken without the demand for margin or additional margin, without prior notice of sale and/or purchase or other notice to the Customer, the Customer’s personal or appointed representatives, heirs, executors, administrators, trustees, legatees, or assigns, and regardless of whether the ownership interest is solely or jointly held.
3. CONSUMER REPRESENTATIONS
3.1 GENERAL REPRESENTATIONS AND WARRANTIES
3.1.1 The Customer represents and warrants that:
i. The Customer (if a natural person) and/or its Representatives (if a legal entity) are of sound mind, legal age, and legal competence;
ii. The Customer (if not a natural person) is duly organized and validly exists under the applicable laws of the jurisdiction in which it was organized;
iii. The execution and delivery of this Agreement and all transactions contemplated hereby have been duly authorized by the Customer and will not violate any statute, rule, regulation, ordinance, charter, by-law, or pleading;
iv. The Customer will pay all amounts due;
v. The Customer agrees to promptly notify Valor Markets Ltd of any changes to their personal and/or contact information;
vi. Customers are prohibited from engaging in transactions for the purpose of arbitrage or exploitation of temporary inaccuracies or technical discrepancies; and
vii. The Customer warrants that the financial information disclosed to Valor Markets Ltd in the application is an accurate reflection of the Customer’s current financial condition, and that Valor Markets will be promptly notified of any changes to such information.
3.1.2 The Customer represents and warrants that Gross Income, Total Assets, and Liabilities were correctly calculated when determining the Customer’s Net Worth.
3.1.3 The Customer represents and warrants that when determining the value of Total Assets, it included cash and/or cash equivalents, U.S. Government and Marketable securities, real estate owned (excluding primary residence), the cash value of life insurance, and other valuable assets.
3.1.4 The Customer represents and warrants that notes payable to banks (secured and unsecured), notes payable to relatives, real estate mortgages payable (excluding primary residence), and other debts were included in determining the value of liabilities.
3.1.5 The Customer represents and warrants that they have given careful consideration to the portion of their total assets that they consider to be risk capital. Additionally, the Customer is aware that risk capital is the amount of money the Customer is willing to risk. If lost, the Customer acknowledges that their lifestyle would not be affected in any way.
3.1.6 The Customer agrees to notify Valor Markets Ltd immediately if the Customer’s financial condition changes such that the Customer’s net worth and/or risk capital decreases.
3.1.7 The Customer authorizes Valor Markets Ltd and/or any agents acting on behalf of the Company to investigate the Customer’s credit standing and, in connection therewith, to contact such banks, financial institutions, and credit agencies as Valor Markets Ltd deems appropriate to verify information regarding the Customer.
3.1.8 The Customer authorizes Valor Markets Ltd to investigate the Customer’s current and past investment activity, as well as to contact futures commission merchants, exchanges, broker/dealers, banks, compliance data centers, and any other financial and investment institution that Valor Markets Ltd deems appropriate.
3.1.9 The Customer acknowledges that Valor Markets Ltd may provide information (e.g., negative Account information of unsecured debts) regarding the Customer's performance under this Agreement to the agencies, which may have a negative impact on the Customer’s financial standing.
4. ORDER MANAGEMENT
4.1 REQUESTS FOR CANCELLATION AND MODIFICATION
4.1.1 The Customer recognizes that it may be impossible to cancel or modify an order.
4.1.2 The Customer acknowledges and agrees that, if an order cannot be canceled or modified, they are bound by any execution of the original order.
4.1.3 In the event that Valor Markets Ltd is unable to cancel or modify an order, Valor Markets Ltd is not liable.
4.1.4 The Customer acknowledges that attempts to modify, cancel, or replace an order may result in the order’s execution or the execution of duplicate orders. In addition, the Customer acknowledges that Valor Markets Ltd.’s systems do not prevent the execution of orders or the placement of duplicate orders, and that the Customer is responsible for all such executions.
4.1.5 The Customer agrees not to assume that any order has been executed or canceled until receiving confirmation from Valor Markets Ltd regarding order execution. Prior to placing additional orders, the Customer is responsible for determining the status of any pending orders.
4.1.6 The Customer agrees to contact Valor Markets Ltd if they are unsure of the status of an order.
4.1.7 The Customer agrees to review their online account statement, that can be generated by them, regularly to confirm the status of their orders.
4.2 DECLARATIONS AND CONFIRMATION
4.2.1 Valor Markets Ltd will provide the Customer with an online login to view the Customer’s account at any time. Valor Markets Ltd will not send trade confirmations through the mail.
4.2.2 Absence of objection shall automatically be construed as acceptance of all actions taken by Valor Markets Ltd or its agents prior to the Customer’s receipt of said reports.
4.2.3 The lack of receipt of a trade confirmation by the Customer does not exempt the Customer from the obligation to object as outlined herein.
4.2.4 The Customer shall pay all charges (including – but not limited to – mark-ups and mark-downs, statement charges, idle Account charges, order cancellation charges, account transfer charges, introducing broker and money manager fees if applicable, and other charges) arising from Valor Markets Ltd.’s provision of services pursuant to this Agreement. Valor Markets Ltd reserves the right to modify its fees without prior notice.
4.2.5 All fees shall be paid by the Customer as they are incurred, or as determined by Valor Markets Ltd in its sole and absolute discretion. The Customer hereby authorizes Valor Markets Ltd to debit his/her account for the amount of any such charge(s).
4.3 DEPOSITS AND WITHDRAWALS
4.3.1 Valor Markets Ltd acknowledges and agrees to perform deposit and/or withdrawal transactions between the Customer’s Valor Markets Ltd account and another account held in the Customer’s name including trading account(s) and/or of which the Customer demonstrates clear ownership to Valor Markets Ltd.
4.3.2 Valor Markets Ltd may restrict the Customer’s withdrawal options to prevent money laundering, fraud, and other illegal activities.
4.3.3 Customers of Valor Markets Ltd can withdraw their funds and benefits whenever necessary. To request a partial or full withdrawal from their account, the Customer must click “Withdrawal” on the Valor Markets Ltd platform and follow the directions provided.
4.3.4 The Customer must be aware that Valor Markets Ltd requires two (2) to five (5) business days to process withdrawal requests. It may take up to two (2) or three (3) business days for corresponding withdrawals to reach your credit card, bank account or wallet address.
4.3.5 If the Customer has any questions, they can contact the Customer Support team at Valor Markets Ltd. Only the same bank account, credit/debit card, or wallet that was used to deposit funds may be used for withdrawals.
4.3.6 Valor Markets Ltd imposes a minimum withdrawal amount for any withdrawal request made by the Customer. If the requested withdrawal amount is below the minimum threshold reflected on the website, the Company reserves the right to reject or cancel the withdrawal request. The Customer agrees to ensure that the withdrawal amount meets or exceeds the minimum requirement and acknowledges that the Company may reject the withdrawal request. The Company reserves the right to amend the minimum withdrawal amount from time to time, with no notice provided to the Customer.
4.3.7 Additionally, the Customer may be required to provide additional information and documentation on their Source of Wealth and/or Source of Funds when withdrawing funds for additional verification(s), or as and when Valor Markets Ltd deems appropriate.
4.4 RESPONSIBILITIES OF VALOR MARKETS LTD
4.4.1 Valor Markets Ltd shall not be liable for any losses resulting from the default of any agent or other party used by Valor Markets Ltd in accordance with this agreement.
4.4.2 Valor Markets Ltd shall ensure that Customers have access to a monthly statement of account for all transactions, this statement will be executed and available in the month preceding the calendar month in question. For example, the statement for January 2020 will be available in February 2020.
4.5 RISK OF CURRENCY FLUCTUATION
If the Customer directs Valor Markets Ltd to enter into a transaction:
i. any profit or loss arising as a result of a fluctuation in the rates affecting such a transaction will be entirely for the Customer’s account and will be the sole responsibility of the Customer; and
ii. all initial and subsequent margin deposits must be made in USD, or in another currency that Valor Markets Ltd may, at its sole discretion, accept, in amounts determined by Valor Markets Ltd at its sole and absolute discretion.
4.6 CROSS TRADE CONSENT
4.6.1 The Customer hereby acknowledges and agrees that Valor Markets Ltd may act as the counterparty to the Customer for any trade entered for the undersigned’s account.
4.6.2 The undersigned hereby consents to any such transaction, subject to the limitations and conditions, if any, contained in the rules and regulations of any bank, institution, exchange or board of trade upon which such buy or sell orders are executed, and subject to the limitations and conditions contained in this Agreement.
5. COMMUNICATIONS
5.1 GENERAL COMMUNICATIONS
Reports, statements, notices, and any other communications shall be transmitted to the Customer electronically by posting to the Customer’s online account or on the Company’s website, via email to the email address provided by the Customer during the account opening, or to any other email address the Customer may designate from time to time to Valor Markets Ltd.
5.2 EMAIL AND ELECTRONIC COMMUNICATIONS
5.2.1 All emails sent to or from Valor Markets Ltd may be monitored, reviewed, and/or disclosed to the Customer or the Customer’s intended recipient.
5.2.2 The Customer agrees to hold Valor Markets Ltd and any third party harmless for any delay in email delivery, regardless of who caused the delay. The corporate email system of Valor Markets Ltd may retain emails sent to and from the Company’s email address.
5.2.3 The Customer agrees not to transmit orders for the purchase or sale of over-the-counter products via email. In addition, the Customer agrees that Valor Markets Ltd is not liable for any actions taken or omissions to act as a result of any email message sent to Valor Markets Ltd by the Customer.
5.2.4 Electronic communications with Valor Markets Ltd via our website, or a wireless device can be reviewed, and disclosed to a third party. These messages may be stored by Valor Markets Ltd.
5.3 NOTIFICATIONS
All communications, whether transmitted via email, secure messaging via the Company's chat system, via notification to the Customer’s account, via platform notifications, and/or postings on the Company’s website, shall be deemed to constitute valid notice of the matters contained therein and shall carry equal force and effect, regardless of the medium used. Delivery of any such communication to the Customer’s last known contact details on record with the Company shall be considered due notice.
6. THIRD PARTIES
6.1 NO SEPARATE AGREEMENTS
6.1.1 The Customer acknowledges that no separate agreement with the Customer’s broker or any Valor Markets Ltd employee and/or agent regarding the trading in the Customer’s account, including any agreement to guarantee profits or limit losses in the Customer’s account, is permitted. The Customer must immediately notify the Compliance Department of Valor Markets Ltd of any agreement of this nature.
6.1.2 The Customer acknowledges that any representations made by a third party regarding the Customer’s account that differs from the statements the Customer receives from Valor Markets Ltd must be brought to the attention of Valor Markets Ltd.’s Compliance Department in writing immediately.
6.1.3 The Customer acknowledges that, unless the Customer has delegated discretion to another party by signing Valor Markets Ltd.'s limited power of attorney (“LPOA”), the Customer must authorize every transaction prior to its execution.
6.1.4 The Customer agrees to bring any disputed transactions to the attention of the Valor Markets Ltd in accordance with the notice provisions of this Agreement.
6.1.5 The Customer agrees to indemnify and hold harmless Valor Markets Ltd from any damage or liability resulting from the Customer’s failure to notify Valor Markets Ltd within one (1) business day of any of the occurrences mentioned in this agreement. All notices required by this section shall be sent to the address listed for Valor Markets Ltd on the Company’s website.
6.2 REVENUE SHARING DISCLOSURE
6.2.1 The Customer acknowledges that Valor Markets Ltd may enter into revenue-sharing arrangements with or retain the services of any other third-party vendors in connection with technical support, back-office and operational support functions relating to Customer’s Accounts.
7. COMPLIANCE
7.1 ANTI-MONEY LAUNDERING PROCEDURES
The Customer agrees and acknowledges that Valor Markets Ltd may conduct the following procedures upon account opening and throughout the account's existence:
7.2 VERIFICATION PROCESSES
7.2.1 In accordance with anti-money laundering and countering the financing of terrorism requirements, Valor Markets Ltd will identify and verify any individual who registers for its service(s). Valor Markets Ltd is required to collect information such as – but not limited to – full legal name, date of birth, and residential address when a Customer opens an account. The Customer acknowledges and agrees that Valor Markets Ltd reserves the right to close the account at its sole discretion due to verification results.
7.2.2 Email address verification:
After completing the sign-up form, the Customer will be prompted to verify their email address by clicking on an activation link which is sent to their email address. In the absence of this step, account access will be denied.
7.2.3 Two-factor authentication:
After completing the sign-up form, the Customer must enable two-factor authentication (“2FA”) on their account in order to access the account. Valor Markets Ltd accounts are equipped with two-factor authentication to prevent unauthorized access attempts.
7.2.4 Verification of identity checks:
Valor Markets Ltd may use third party providers to confirm any information the individual registers in order to complete the identity verification. Valor Markets Ltd may verify the Customer’s information, requiring the Customer to provide official identification documents, proof of address, and/or additional documents that Valor Markets Ltd will advise the Customer to submit when and as required. Corporate Customers will be required to submit additional documentation, including – but not limited to – incorporation certificates and articles of association.
7.2.5 Customer acknowledges that Valor Markets Ltd may require additional verification checks (which may include requests for additional documents or information) at any time to satisfy routine security checks. Valor Markets Ltd reserves the right to suspend the account and return any applicable balance if we are unable to verify the Customer’s registered details and if the Customer is unable and/or refuses to provide the requested documentation and/or information.
7.3 MONITORING
Valor Markets Ltd may monitor account trading activity to investigate and/or identify possible money laundering.
7.3.1 The Customer agrees and acknowledges that the Customer is the exclusive owner and solely responsible, for the confidentiality and protection of the Customer’s account number(s) and password(s) that permit the Customer to place online orders and access Valor Markets Ltd electronic trading system(s).
7.3.2 The Customer agrees to indemnify and hold harmless Valor Markets Ltd if a third party utilizes the Customer’s confidential information and gives Valor Markets Ltd instructions that are contrary to the Customer’s instructions.
7.3.3 The Customer shall notify Valor Markets Ltd immediately in writing or via email of any loss, theft, and/or unauthorized use of the Customer’s account number and/or passwords.
7.4 INTELLECTUAL PROPERTY AND CONFIDENTIALITY
7.4.1 All copyright, trademark, trade secret, and/or other intellectual property rights in the Valor Markets Ltd Trading Platform (hereinafter referred to as the “Trading Platform”) shall remain at all times the sole and exclusive property of Valor Markets Ltd and/or its third party service providers, and Customers shall have no right and/or interest in the Trading Platform other than the right to access and use the Trading Platform as specified in this agreement.
7.4.2 The Customer acknowledges that the Trading Platform has been developed with considerable skill, time, and money, and is therefore confidential.
7.4.3 The Customer will protect the confidentiality of Valor Markets Ltd and/or its third-party service providers by restricting Trading Platform access to its employees and agents on a need-to-access basis.
7.4.4 The Customer agrees not to publish, distribute, and/or otherwise make available to third parties any information derived from or related to the Trading Platform.
7.4.5 The Customer agrees not to copy, modify, decompile, reverse engineer, or create derivative works based on the Trading Platform or its operation.
7.5 NO ADVICE AND NO RECOMMENDATIONS.
7.5.1 The Customer is aware and acknowledges that Valor Markets Ltd does not and will not provide investment, legal, and/or tax advice, or trading recommendations. The Customer acknowledges that Valor Markets Ltd makes no representations regarding the tax consequences or treatment of contracts.
7.5.2 The Customer agrees that the Customer is a self-directed investor and that all orders placed are unsolicited and based on the Customer’s own investment decision or the investment decision of the Customer’s duly authorized representative if applicable.
7.5.3 The Customer agrees that neither Valor Markets Ltd nor any of its employees may be the Customer’s duly authorized representative and that the Customer will neither solicit nor rely upon Valor Markets Ltd or any of its employees for investment advice.
7.5.4 The Customer understands that the Customer is solely responsible for all orders entered, including but not limited to trade qualifiers, the number of trades entered, the suitability of any trade(s), investment strategies, and risks associated with each trade, and will not hold Valor Markets Ltd or any of its employees liable for those investment decisions.
7.5.5 The Customer agrees to indemnify and hold harmless Valor Markets Ltd and its officers, directors, employees, agents, and affiliates from all and any liability, financial or otherwise, or expenses (including attorneys’ fees and disbursements), incurred as a result of any losses or damages. As a result of any decisions, instructions, transactions, or strategies employed in the Customer’s account by the Customer or the Customer’s duly authorized representative, or as a result of any breach by the Customer of any of the covenants, representations, acknowledgments, or warranties contained herein, the Customer may incur losses.
7.6 TRADING RECOMMENDATIONS
7.6.1 The Customer acknowledges that:
i. Any market recommendations and information communicated to the Customer by Valor Markets Ltd or by any person within the company, does not constitute an offer to sell or the solicitation of an offer to buy any contract; such recommendation and information, although based on information obtained from sources believed by Valor Markets Ltd to be reliable, may be based solely on a broker's opinion and that such information may be inaccurate; and
ii. Any market recommendations and information communicated to the Customer.
7.6.2 The Customer recognizes that Valor Markets Ltd and/or its officers, directors, affiliates, associates, stockholders, or representatives may have a position in or intend to buy or sell securities that are the subject of market recommendations provided to the Customer. In addition, the market position of Valor Markets Ltd or any such officer, director, affiliate, associate, stockholder, or representative may not be consistent with the recommendations provided by Valor Markets Ltd to the Customer.
7.7 RISK RECOGNITION
7.7.1 The Customer acknowledges that investments in leveraged transactions are speculative, involve a high degree of risk, and are only suitable for those able to assume the risk of losing their margin deposit.
7.7.2 The Customer acknowledges that due to the low margin normally required for trading over-the-counter contracts, price fluctuations in contracts may result in the loss of the Customer’s margin deposit.
7.7.3 The Customer warrants that Customer is willing and able, financially and otherwise, to assume the risk of trading, and in consideration of Valor Markets Ltd carrying their Account(s), the Customer agrees not to hold Valor Markets Ltd liable for losses incurred as a result of following its trading recommendations or suggestions or those of its employees, agents, or representatives.
7.7.4 The Customer acknowledges that profit and/or loss assurances are impossible in trading.
7.7.5 The Customer acknowledges that the Customer has not received any such guarantees from Valor Markets Ltd, any of its representatives, or any introducing agent(s) or other entity with whom the Customer is conducting their Valor Markets Ltd Account, and that the Customer has not entered into this agreement in consideration of or reliance on any such guarantees or similar representations.
7.8 RECORDINGS
7.8.1 The Customer agrees and acknowledges that all conversations between the Customer and Valor Markets Ltd personnel regarding Customer’s Account(s) may be electronically recorded with or without the use of an automatic tone warning device.
7.8.2 The Customer further agrees to the use of such recordings and transcripts thereof as evidence by either party in any dispute or proceeding involving Customer or Valor Markets Ltd.
7.8.3 The Customer acknowledges that Valor Markets Ltd destroys such recordings at regular intervals in accordance with Valor Markets Ltd.’s established business procedures, and the Customer consents to such destruction.
7.9 USE OF MONIES
The Customer hereby grants Valor Markets Ltd the right to pledge, repledge, invest or loan any funds, securities, currencies, and foreign currency or off-exchange transactions of the Customer held by Valor Markets Ltd as margin or security. Valor Markets Ltd is never obligated to deliver to the Customer the identical property delivered to or purchased for any Account of the Customer.
7.10 TECHNOLOGY AND COMMUNICATIONS
7.10.1 Valor Markets Ltd and/or its third-party service providers provide trading technology for use by the Customer in connection with Customer’s transactions with Valor Markets Ltd. This trading technology includes the Trading Platform, web applications, application program interfaces, software, software code, programs, protocols, and displays (collectively “Technology”) for trading, analyzing trades and markets, and building automated trading systems.
7.10.2 Valor Markets Ltd provides the Technology “as is” and without any express or implied warranties of merchantability, fitness for a particular purpose, or other warranties.
7.10.3 Valor Markets Ltd is not liable for the operation and/or performance of any automated trading system developed with Technology, or for any malfunctions of Technology, or for any delays or interruptions in the transmission of orders resulting from breakdown, excessive call volume, or failure of transmission or communication equipment on the Internet or otherwise, including, but not limited to, communications problems, computer software or hardware breakdowns, malfunctions, and telecommunications problems.
8. MISCELLANEOUS
8.1 BINDING EFFECT
8.1.1 Regardless of any personnel changes at Valor Markets Ltd or its successors, assigns, or affiliates, this Agreement shall be continuous and shall cover, individually and collectively, all accounts opened and/or reopened by the Customer with Valor Markets Ltd.
8.1.2 This Agreement, including all authorizations, shall benefit Valor Markets Ltd and its successors and assigns, whether by merger, consolidation, or otherwise, and shall bind the Customer and/or the Customer’s estate, executor, trustees, administrators, legal representatives, successors and assigns.
8.1.3 The Customer ratifies all transactions with Valor Markets Ltd that occurred prior to the date of this Agreement and agrees that the terms of this Agreement shall govern the Customer’s rights and obligations with respect to those transactions.
8.2 TERMINATION
This Agreement may be terminated at any time by the Customer and shall remain in effect until termination when the Customer has no open position(s) and no liabilities held by or owed to Valor Markets Ltd upon the actual receipt by Valor Markets Ltd of written notice of termination via email, or at any time whatsoever by Valor Markets Ltd upon the transmission of written notice of termination to the Customer; provided, however, that such termination shall not relieve the Customer of any obligations incurred prior to termination.
8.3 ACCEPTANCE
Valor Markets Ltd shall not be deemed to have accepted this Agreement, nor does it become a legally binding contract between the Customer and Valor Markets Ltd until Valor Markets Ltd verifies and approves the Customer’s information.
8.4 INDEMNIFICATION
The Customer agrees to indemnify and hold Valor Markets Ltd, its affiliates, employees, agents, successors and assigns harmless from and against any and all liabilities, losses, damages, costs, and expenses, including attorney’s fees, incurred by Valor Markets Ltd as a result of the Customer’s failure to fully and timely perform the Customer’s responsibilities hereunder or if any of the representations and warranties are not accurate.
8.4 FORCE MAJEURE
Valor Markets Ltd shall not be liable to the Customer for any claims, losses, damages, costs or expenses, including attorney’s fees, caused, directly or indirectly, by any events, actions or omissions, including, without limitation, claims, losses, damages, costs or expenses, including attorney’s fees, resulting from civil unrest, war, insurrection, international intervention, governmental action (including, without limitation, exchange controls, forfeitures, nationalizations), and natural disasters.
8.6 TERMS AND TITLES
8.6.1 The terms “Valor Markets Ltd”, “Valor Markets”, and/or “the Company” encompasses Valor Markets Ltd. as well as its affiliates, divisions, successors, and assigns.
8.6.2 The term “Customer” refers to the party (or parties) executing the Agreement, and the term “Agreement” refers to all other agreements and authorizations executed by the Customer in connection with the maintenance of Customer’s Account with Valor Markets Ltd, regardless of when executed.
8.7 UTILIZATION OF VALOR MARKETS LTD’S WEBSITES
8.7.1 The term “Website” refers to https://www.valormarkets.com/ and any other sites that Valor Markets Ltd may register. The Website provides content and information to the Customer. The website’s content is provided as a courtesy, but it may be inaccurate or outdated.
8.7.2 The Customer agrees to always rely on the Customer’s transaction confirmations and account statements as the account’s official records. This information is not associated with a particular account.
8.7.3 The term “Information” consists of market data, news, research, financial analysis, commentary, and tools provided by third parties to Valor Markets Ltd and provided to the Customer by the Company.
8.7.4 The information on the website is derived from credible sources, but its accuracy cannot be guaranteed. The information provided on our websites is not tailored to the Customer, and the Customer acknowledges that the information provided to the Customer does not constitute a recommendation regarding the purchase and/or sale of any trading product.
8.7.5 Valor Markets Ltd may change, revise, modify, add, upgrade, remove, or discontinue any portion of its Website without notifying the Customer. The website may contain links to websites operated by third parties.
8.7.6 Valor Markets Ltd is not responsible for the website’s information and/or content.
8.8 MARKET DATA, NEWS, AND OTHER INFORMATION
The Customer agrees that the market data, news, and other information accessible through our Website are for personal use only and that the Customer will not retransmit or republish this information in any form without the prior written consent of Valor Markets Ltd.
8.8.1 No provision of this Agreement may be waived or amended unless the waiver or amendment is in writing and signed by the Customer and an authorized officer of Valor Markets Ltd.
8.8.2 No waiver or amendment of this Agreement may be implied by any course of trading between the parties or from any failure by Valor Markets Ltd or its agents to assert its rights under this Agreement on any occasion or series of occasions.
8.8.3 This Agreement, any attachments thereto, and the terms and conditions contained in statements and confirmations constitute the entire agreement between the parties with respect to the subject matter of this Agreement.
8.8.4 The validity of the remaining provisions and conditions shall not be affected thereby, and this Agreement shall be carried out as if such invalid or unenforceable provision or condition had never been included.
8.9 TRANSFER AND ASSIGNMENT OF ACCOUNTS
The Customer grants Valor Markets Ltd permission to transfer and assign the Customer’s account to a futures commission merchant or another legal entity. The Customer may not transfer or assign this Agreement without the prior written consent of Valor Markets Ltd. Any purported assignment by the Customer in violation of this clause is void, null, and unenforceable.
9. GOVERNING LAW
This Agreement is governed by the law of the Comoros Union and will be subject to the exclusive jurisdiction of the Comoros Union.