AND
The Client, whose details are set out in the Account Application Form (“you,” “your,” or “the Client”). By opening an account with QFEX or using any of our websites, APIs, or mobile applications (collectively, the “Site”), you acknowledge that you have read, understood, and agree to be bound by this Agreement, together with the Privacy Policy, Trading and Margin Rules, and Order Execution Rules.
1. Introduction and Scope of Services
1.1 Nature of Services
QFEX operates a Multilateral Trading Facility (MTF) that enables electronic trading in cash-settled perpetual futures contracts across multiple asset classes, including equity indices, single-name equities, FX pairs, and commodities.QFEX acts as the operator and facilitator of the MTF but does not act as a counterparty or principal to any trade executed on the platform.
1.2 No Advisory Relationship
QFEX does not provide investment, financial, legal, accounting, tax, or regulatory advice. All trading or investment decisions are made at your sole discretion and risk.1.3 Supplemental Terms
Certain products or services may be subject to additional terms and conditions, which form part of this Agreement once you begin using such products or services.2. Eligibility
2.1 Eligible Clients
To use QFEX Services, you must:- Be at least 18 years old;
- Have legal capacity to enter into binding contracts;
- Reside in a jurisdiction where use of the QFEX Services is lawful; and
- Not appear on any restricted or sanctions lists (OFAC, UN, EU, UK Treasury, etc.).
2.2 Prohibited Jurisdictions
You represent that you are not a resident of any prohibited jurisdiction, including (without limitation) the United States, France, Cuba, Iran, North Korea, Sudan, Spain, the United Kingdom, Myanmar, Venezuela, or the territories of Luhansk and Donetsk.2.3 Client Representations
By submitting an application, you represent that:- Information provided is true, complete, and accurate;
- You will notify QFEX of any material changes; and
- Your participation does not violate any applicable law or regulation.
2.4 Approval and Discretion
All account applications are reviewed at QFEX’s discretion. Approval or rejection may occur without reason.3. Account Opening, Data, and AML
3.1 Application Requirements
You must complete all KYC and AML/CTF documentation and provide proof of identity, address, and source of funds.3.2 Account Responsibility
You may hold only one active account unless authorized. You are responsible for maintaining account security.3.3 AML and Compliance Obligations
QFEX may freeze or terminate your account if suspicious activity is detected or documentation is missing.3.4 Data Protection
Personal data is processed per the QFEX Privacy Policy.3.5 Information Accuracy
False or outdated information may result in account suspension or closure.4. Trading and Execution
4.1 Access and Use
You are granted a limited, revocable right to access the platform for lawful trading purposes.4.2 Orders and Margin Maintenance
You are responsible for all orders placed. You must maintain sufficient margin as defined in QFEX’s Trading and Margin Rules.4.3 Leverage and Risk Controls
Leverage limits and margin requirements vary and may be adjusted at QFEX’s discretion.4.4 Market Protections
QFEX may implement controls such as circuit breakers or position limits to ensure market integrity.4.5 Suspension and Termination
QFEX may suspend or terminate access under circumstances including fraud, insolvency, or breach of terms.4.6 Service Interruptions
QFEX may temporarily suspend Services for maintenance or upgrades. It is not liable for losses due to downtime.5. Client Money
5.1 Segregation of Funds
Client funds are held in segregated accounts maintained with licensed custodians.5.2 Interest and Beneficial Ownership
Unless stated otherwise, no interest accrues to clients. Any interest generated may be retained by QFEX.5.3 Deposits and Withdrawals
Transactions must originate from or be directed to accounts held in your name.5.4 Transaction Monitoring
All transactions are monitored per AML/CTF standards.5.5 Fiat Currency Transactions
Conversions between fiat and digital assets are jurisdiction-dependent.5.6 Third-Party Transfers
QFEX is not responsible for third-party transactions or disputes.5.7 Reconciliation and Recordkeeping
Regular reconciliations and compliance with applicable regulations are maintained.6. Reserve Fund
6.1 Purpose
The Reserve Fund absorbs potential shortfalls from negative equity balances during volatility.6.2 Funding
Funded through residual margin and liquidation proceeds.6.3 Operation
Aims to prevent negative balances, but coverage is not guaranteed in extreme market conditions.6.4 Limitation of Liability
If the Reserve Fund is depleted, QFEX may liquidate positions as a protective measure.7. Risk Disclosure
7.1 High-Risk Nature
Trading in derivatives is high-risk and may result in losses exceeding deposits.7.2 Acknowledgment
You confirm understanding and acceptance of all trading risks.7.3 No Assurance of Profit
QFEX provides no guarantee of profitability or success.7.4 Independent Judgment
All trading decisions are made independently by you.8. Fees and Charges
8.1 Applicable Fees
All fees are published in the Order Execution Rules on the QFEX Site.8.2 Changes to Fees
QFEX may modify fees with prior notice.8.3 Payment of Fees
Fees may be automatically deducted from your account.8.4 Third-Party Fees
External costs (network fees, bank charges) are borne by you.9. Data Protection and Security
9.1 Data Processing
Personal data is processed in line with data protection laws and the Privacy Policy.9.2 Client Responsibilities
You must ensure lawful disclosure and notification of third parties’ data.9.3 Security Credentials
Maintain confidentiality of passwords and 2FA. QFEX will never request them.9.4 Device Security
You are responsible for securing your devices.9.5 Unauthorized Access
QFEX is not liable for losses due to your negligence.9.6 Security Breach Notification
Notify [email protected] immediately if unauthorized access occurs.9.7 Cybersecurity Risks
QFEX is not responsible for phishing, malware, or similar attacks.10. Liability
10.1 General Release
You release QFEX from claims arising from disputes with other users.10.2 Indemnification
You agree to indemnify QFEX for losses caused by breach, violation, or misconduct.10.3 Limitation of Liability
QFEX’s liability is limited to the total value of Client Money held in your name.10.4 Excluded Losses
QFEX is not liable for indirect, consequential, or special damages.10.5 Legal Compliance
Nothing limits QFEX’s liability in cases of fraud or gross negligence.10.6 No Warranties
Services are provided “as is” and “as available.”10.7 Force Majeure
QFEX is not responsible for delays or failures due to events beyond its control.11. Termination
11.1 Right to Terminate
Either party may terminate this Agreement with written notice.11.2 Termination by QFEX
QFEX may terminate without notice under circumstances including fraud, insolvency, or non-compliance.11.3 Consequences
QFEX may liquidate positions, apply balances to debts, or restrict withdrawals.11.4 Recovery of Costs
You remain liable for costs incurred in enforcement or recovery.11.5 Effect
Provisions relating to indemnity and liability survive termination.12. Complaints and Dispute Resolution
12.1 Contacting QFEX
Contact [email protected] for questions or issues.12.2 Filing a Complaint
Escalate complaints to [email protected] with full details and documentation.12.3 Resolution
QFEX will aim to respond within 45 business days.12.4 Arbitration
Unresolved disputes shall be referred to binding arbitration under ICC Rules in Panama City, Republic of Panama.12.5 Confidentiality
Both parties agree to confidentiality of arbitration proceedings.12.6 Class Action Waiver
No class actions or representative proceedings permitted.12.7 Interim Relief
Either party may seek provisional court measures pending arbitration.13. General Provisions
13.1 Unclaimed Property
Inactive funds for over 5 years may be treated as unclaimed and remitted to authorities.13.2 Death or Incapacity
Accounts are frozen upon notification of death or incapacity until authorized instructions are received.13.3 Entire Agreement
This Agreement supersedes all prior understandings.13.4 Amendments
QFEX may amend terms by posting updates on its Site.13.5 Assignment
You may not transfer rights without consent; QFEX may assign to affiliates or successors.13.6 Severability
Invalid provisions do not affect the remainder of the Agreement.13.7 Waiver
No waiver is effective unless in writing.13.8 Notices
Notices may be sent by email or through the account dashboard.13.9 Recordkeeping
Communications may be recorded for compliance and audit purposes.13.10 Language
English is the governing language of this Agreement.14. Governing Law and Jurisdiction
14.1 Governing Law
This Agreement is governed by the laws of the Republic of Panama.14.2 Jurisdiction
The courts of Panama have exclusive jurisdiction, except where arbitration applies.14.3 Enforcement
Arbitration awards may be enforced in any court of competent jurisdiction.15. Referral Program
15.1 Participation
You may participate by:- Sharing referral links,
- Uploading a profile picture,
- Completing KYC verification,
- Enabling 2FA.
15.2 Program Rules
- Legitimate referrals only
- No self-referrals
- No spam
- Compliance with applicable laws
- Program may be modified or terminated at any time
- Reward rules available at docs.qfex.com
16. Miscellaneous
16.1 Relationship
No partnership, joint venture, or fiduciary relationship is created.16.2 Third-Party Rights
Only QFEX and the Client have rights under this Agreement.16.3 Survival
Clauses relating to indemnity, liability, and governing law survive termination.16.4 Headings
Headings are for reference only.16.5 Company
QFEX Inc.,Office 317, Vía Ricardo J. Alfaro, PH The Century Tower, Betania, Panama, 07095