Terms & Conditions
ARTICLE 1. | DEFINITIONS
In these general terms and conditions, the following terms, always capitalized, are used with the following meaning.
- Growth One: the private Freezone Company with limited liability Growth One, the user of these general terms and conditions, with its registered office at DDP, Building A1 in Dubai Silicon Oasis, Dubai, United Arab Emirates, registered in the Trade Register under DSO-FZCO-29927.
- Customer: any natural or legal person with whom Growth One has entered into or intends to enter into an Agreement.
- Consumer: a customer, natural person, not acting in the exercise of a profession or business OR a customer, acting as a profession or business exclusively when the profession or business signed up as a business during the onboarding process.
- Parties: Growth One and the Client jointly.
- Agreement: any agreement between the Parties under which Growth One has undertaken towards the Client to provide software for automated trading on the foreign exchange market and/or the provision of the Growth Estate or Growth Legal service.
- Written: communication in writing, communication by e-mail or any other form of communication that can be equated with this in view of the state of the art and prevailing views in society.
ARTICLE 2. | GENERAL PROVISIONS
- These general terms and conditions apply to every offer from Growth One to enter into an Agreement, every Agreement as such and all resulting legal relationships between the Parties.
- The applicability of any general terms and conditions of the Customer is expressly rejected.
- It is only possible to deviate from the provisions of these general terms and conditions expressly and In Writing, such as by means of the assignment agreement signed by the Parties. If and insofar as what the Parties have expressly agreed in Writing deviates from the provisions of these general terms and conditions, what the Parties have agreed explicitly and In Writing will apply. Client: The client with whom the contractor has concluded an agreement for a product, as well as to whom the contractor has issued an agreement, quotation or offer.
- The nullity or nullity of one or more of the provisions of these general terms and conditions or the Agreement as such does not affect the validity of the other provisions. In such a case, the Parties are obliged to enter into mutual consultation in order to make an alternative arrangement with regard to the affected clause. In doing so, the purpose and purport of the original provision will be taken into account as much as possible.
Parties: Growth One and the client jointly.
Product: All products or services offered by the contractor in the form of a quotation, agreement or offer to the client under the name of Growth One.
ARTICLE 3. | OFFER AND CONCLUSION OF THE AGREEMENT
- Any offer from Growth One to enter into an Agreement (including the assignment agreements offered by it for signature) is without obligation and aimed at persons and companies worldwide, with the express exception of the United States and all associated jurisdictions. Growth One can still revoke its offer until immediately, at least as soon as possible after its acceptance by the Client.
- The Customer or person who concludes the Agreement on behalf of the Customer must have reached the age of at least 18 years.
- Without prejudice to the provisions of paragraph 1, each Agreement is concluded at the moment that Growth One's offer has been accepted by the Client in the manner indicated by Growth One.
ARTICLE 4. | CANCELLATION OF THE AGREEMENT
Each Agreement is, without prejudice to the termination options referred to in these Terms and Conditions, binding after it has been concluded. In the event of cancellation of the Agreement by the Customer, the Customer will continue to owe any associated payment obligations in full.
ARTICLE 5. | GENERAL CUSTOMER OBLIGATIONS
The Client must provide Growth One with all information that is reasonably relevant to the set-up and implementation of the Agreement, including as stipulated in these general terms and conditions, in a timely manner, completely and in any manner indicated by Growth One. The Client guarantees the correctness of all information provided by it to Growth One. Growth One is never liable for damage caused by relying on incorrect or incomplete information provided by the Client.
ARTICLE 6. | GROWTH ONE
- Within the framework of Growth One, trades on the foreign exchange market are managed and monitored using software made available by Growth One. In the context of Growth One, the Client must have an account with an external broker. Under the Client's account with the broker, the Client must create an MT5 account. The Client must instruct the broker to link its MT5 account to Growth One's PAMM.
- The Client must keep his login details for access to his broker account secret. Growth One does not ask for these credentials; Growth One merely asks the client to link its MT5 account to Growth One's PAMM. From that moment on, the Client will start taking over Growth One's trades.
- The Client's (MT5) account with the broker is made available to the Client under the terms and conditions applied by the broker. Growth One is not a party to these commitments and does not accept any liability with regard to errors and shortcomings of the broker.
- The Client is obliged to pay the expressly agreed minimum deposit in Writing by depositing this amount into its broker account, failing which Growth One is entitled to suspend further performance of the Agreement.
- In the context of managing trades using Growth Ones copy-trading software, the risk profile for the Client as agreed in the assignment agreement applies. Growth One's copy-trading software trades with the balance deposited by the Client in its broker account. The Client independently manages his money available under his broker account and, subject to the conditions of the broker, is always able to pay out or increase his balance. It is the Client's own responsibility never to risk more money than it can lose. Growth One is not a bank, intermediary, asset manager or financial advisor. Growth One only makes the copy-trading software available to achieve returns. The returns indicated in the assignment agreement or otherwise by Growth One are by no means a guarantee, but only a rough expectation based on past results. Return is therefore never guaranteed and Growth One never accepts any liability with regard to failure to achieve return or loss of investment.
- Trades with Growth One's copy-trading software are automatically managed. The Client may at any time request its broker to disconnect the copy-trading software from its MT5 account. Such requests are followed up by the broker within a reasonable time. Growth One never commits itself to a specific deadline in this respect and is never liable for any (additional) loss suffered by the Client between the time of submitting the disconnection request and the actual disconnection.
- The Client owes the expressly agreed In Writing percentage as a performance fee on any profit it has made with the aid of Growth One's copy-trading software. The performance fee is calculated daily by comparing the balance of 24 hours ago with the balance on the day of invoicing. If there is a positive difference and therefore profit, this is attributed to the use of Growth One's copy-trading software, which amount is taken into account for determining the performance fee. Unless expressly agreed otherwise In Writing, the performance fee must be paid by the Client by bank transfer, on the understanding that Growth One reserves the right to agree with the relevant broker to settle the performance fee with the Client's balance under his broker account.
- The Client is prohibited from using the linked MT5 account for any purpose other than in connection with Growth One's linked copy-trading software. In particular, the Client is prohibited from trading manually via the linked MT5 account, failing which Growth One is entitled to invoke the provisions of Article 12.
- The Agreement regarding Growth One can be canceled by the Customer with immediate effect by e-mail to firstname.lastname@example.org. A cancellation will be confirmed by Growth One by e-mail as soon as possible. The performance fee is calculated on the day of cancellation, after which this fee is charged.
ARTICLE 7. | ABUSE
- Growth One's copy-trading software is exclusively intended for personal use or use in the context of the Client's business operations. The rights and obligations of the Customer arising from the Agreement are not transferable to third parties. It is not permitted to multiply, publish, sell or otherwise make the trades generated by Growth One's copy-trading software available to third parties. Furthermore, it is not permitted to use these trades for commercial purposes other than those arising from the nature and purpose of the Agreement.
- If Growth One finds that the Client violates the provisions of the previous paragraph or makes an attempt to do so, Growth One is entitled to dissolve the Agreement in whole or in part with immediate effect and to pay any damage suffered to the Client as a result of the infringement. to take into account. The provisions of Article 12 apply mutatis mutandis.
ARTICLE 8. | FORCE MAJEUR
- Growth One is not obliged to fulfill any obligation under the Agreement if and for as long as it is prevented from doing so by a circumstance that cannot be attributed to it under the law, a legal act or generally accepted views (force majeure). Force majeure, in addition to what is understood in this respect in legislation and jurisprudence, is understood to mean shortage of personnel, disasters, epidemics, pandemics, war and the threat of war, failures in communication connections or in equipment or software of Growth One or third parties.
- If and insofar as the force majeure situation makes compliance with the Agreement permanently impossible, the Parties are entitled to terminate the Agreement with immediate effect without judicial intervention.
- If Growth One has already partially fulfilled its obligations upon the occurrence of the force majeure situation, or can only partially fulfill its obligations, Growth One is entitled to separately invoice the part of the Agreement that has already been performed, or the part that can still be performed, respectively. if there was an independent Agreement.
- Damage caused as a result of force majeure will never be eligible for compensation, without prejudice to the provisions of the previous paragraph.
ARTICLE 9. | SUSPENSION AND DISSOLUTION
- If the circumstances of the case reasonably justify it, Growth One is authorized, without judicial intervention, to suspend the performance of the Agreement or to terminate the Agreement in whole or in part with immediate effect, if and insofar as the Customer has fulfilled its obligations from the Agreement (including the provisions of these general terms and conditions), or does not comply on time or in full, or circumstances that have become known to Growth One after the Agreement has been concluded give good grounds to fear that the Client will not fulfill its obligations .
- If the Client is declared bankrupt, has applied for (provisional) suspension of payment, any attachment has been levied on its goods or in cases where the Client cannot freely dispose of its assets in any other way, Growth One is entitled to terminate the Agreement with immediate effect and without judicial intervention in whole or in part.
- Growth One is furthermore entitled to dissolve the Agreement in whole or in part with immediate effect if circumstances arise of such a nature that compliance with the Agreement is impossible or unaltered maintenance thereof cannot reasonably be expected of it.
- The Client is never entitled to any form of compensation in connection with the right of suspension and dissolution exercised by Growth One on the basis of this article.
- Insofar as the circumstance that led to the suspension or dissolution of the Agreement can be attributed to the Client, the Client is obliged to compensate Growth One for any damage suffered as a result of the suspension or dissolution of the Agreement.
- If Growth One dissolves the Agreement on the basis of this article, any claims that Growth One still has against the Customer are immediately due and payable.
ARTICLE 10. | LIABILITY AND INDEMNIFICATION
- The Client bears the damage caused by inaccuracies in the information provided by the Client, any other shortcoming in the fulfillment of the Client's obligations arising from the law or the Agreement, as well as any other circumstance that cannot be attributed to Growth One .
- Growth One will make every effort to comply with any implementation terms to which it has committed itself to the Client. However, these periods are never strict deadlines. Growth One's default does not take effect until after the Client has given Growth One Written notice of default, in which notice a reasonable term for fulfillment has been stated and Growth One is still in default after the expiry of the latter term. .
- Trading on the foreign exchange market is done using leverage. Working with leverage is risky. It is the Client's own responsibility to investigate how trading with leverage works and what risks are involved. At all times there is a risk that the Customer will lose his entire investment. It is therefore the Client's own responsibility to only invest with money that the Client can afford to lose. Statistically, about three-quarters of retail investors lose money trading Forex. The Customer is assumed to be aware of these risks. Growth One bears no liability for the total or partial loss of investments of the Client.
- Trades using Growth One's copy-trading software is executed with the relevant broker and at the Client's risk. Trades using the copy-trading software are executed automatically. Use of Growth One's copy-trading software is at the Customer's own choice, for which Growth One does not accept any liability. The Client is fully responsible for monitoring its trades placed through Growth One's bot system and any subsequent actions based on them. The broker is responsible for executing trades made using Growth One's copy-trading software. Growth One only makes Growth One's copy-trading software available. Growth One does not accept any liability for errors and shortcomings of brokers or other third parties.
- Growth One is not a broker, financial advisor, intermediary or asset manager. The services that Growth One offers and information that it makes available in any way whatsoever can never be regarded as investment advice. Growth One directs transaction proposals based on proprietary software to existing Clients and not beyond. The trades generated by Growth One's copy-trading software are general in nature and not specifically aimed at individual Clients. Growth One does not guarantee in any way that use of Growth One's copy-trading software will result in profit.
- Trading using Growth One's copy-trading software may result in a high number of trades. The costs associated with such transactions that the broker charges the Client may result in a lower return. Growth One is completely independent of the broker and is therefore not responsible for lower returns as a result of (high) (transaction) costs charged by the broker to the Client. When choosing a broker, it is the Client's responsibility to inform itself of the level of the (transaction) costs at various brokers.
- Growth One's copy-trading software is developed based on past performance. However, these past results are no guarantee of future success.
- The indicative returns stated by Growth One are exclusive of the agreed performance fee.
- Growth One is not liable for the quality, accuracy, completeness, reliability, availability or timeliness of the information provided by Growth One. Furthermore, Growth One is not liable for the consequences, including any losses, arising from the use of Growth One's copy-trading software or the other services made available by Growth One.
- Growth One is not liable for damage resulting from cyber attacks and other circumstances not attributable to Growth One.
- After termination of the Agreement for whatever reason, the Customer is responsible for any follow-up of his investments. After termination of the Agreement, the Client will not be entitled to any advice, support or any other service from Growth One whatsoever.
- Growth One is never liable for indirect damage, including loss suffered, loss of profit, damage as a result of business interruption, loss of opportunity, trade losses and other damage that may result from incomplete or incorrect information.
- If, despite the provisions of these general terms and conditions, Growth One is nevertheless liable for any damage, this liability will be limited to properly making the agreed services available as yet. The Client must give Growth One the opportunity to do so, failing which any liability of Growth One in this respect will lapse. If such recovery is not possible, any liability of Growth One is limited to a maximum of the amount paid by the Client to Growth One under the Agreement, or at least that part of the Agreement to which Growth One's liability relates.
- The limitation period for all legal claims and defenses against Growth One is 12 months after the claim arose.
- The right to institute legal proceedings or defense in connection with the assertion that Growth One's services do not comply with the Agreement lapses if the alleged shortcoming is not discovered within seven days after discovery thereof, or at least when it can reasonably be discovered, Written and motivated notification has been made to Growth One.
- The Client indemnifies Growth One against any claims from third parties that suffer damage in connection with the execution of the Agreement for the Client and the cause of which is attributable to one or more parties other than Growth One. If Growth One should be held liable by third parties on that basis, the Client is obliged to assist Growth One both in and out of court and to immediately do everything that may reasonably be expected of it in that case. Should the Client fail to take adequate measures, Growth One is entitled to take such action itself without notice of default. All costs and damage incurred by Growth One and third parties as a result are fully for the account and risk of the Client.
ARTICLE 11. | PAYMENTS
- The Client is obliged to pay each invoice submitted by Growth One within seven days of the invoice date. The amounts owed by the Customer are exclusive of VAT, unless expressly stated otherwise and on the understanding that these amounts are (also) stated inclusive of VAT if the Customer is a Consumer.
- Payment must be made without any appeal to suspension or set-off, all this insofar as the law does not preclude this for the benefit of the Consumer.
- Growth One is entitled to make the invoices due to the Client available to the Client exclusively by e-mail.
- If the Customer is in a state of bankruptcy, has applied for (temporary) suspension of payments, any attachment has been levied on its goods, and if the Customer cannot otherwise freely dispose of its assets, the claims against the Customer are immediately due and payable.
- If payment is not made on time, the Client's default will take effect by operation of law. From the day on which the Client is in default, the Client owes interest of 2% per month on the outstanding amount, whereby part of a month is regarded as a full month. Contrary to the previous sentence, instead of the contractual interest referred to there, the statutory interest applicable at the time of the payment default applies if the Customer is a Consumer.
- All reasonable costs, such as judicial, extrajudicial and execution costs, incurred to obtain the amounts owed by the Client, will be borne by the Client.
ARTICLE 12. | INTELLECTUAL OWNERSHIP
- Growth One reserves all intellectual property rights and powers to which it is entitled by law, such as the Copyright Act. Ownership of Growth One's copy-trading software and all resulting information, as well as of the content made available by Growth One in Growth One-Discord and Growth One-Academy, remains with Growth One.
- If and insofar as the Agreement provides for this and for as long as the Customer continues to fully comply with its obligations under the Agreement, the Customer will be entitled to use the facilities as referred to in the previous paragraph. If the Agreement is terminated for whatever reason, this right will lapse with immediate effect.
- A violation of Growth One's intellectual property rights attributable to the Client entitles Growth One to demand immediate reversal of the infringement, as well as compensation to be determined in more detail on the basis of the nature and scope of the infringement.
ARTICLE 13. | FINAL PROVISIONS
- Growth One is entitled to change these general terms and conditions. In such a case, the Customer will be notified of this, whereby the amended general terms and conditions will be provided to him and after which they will apply. In the case of a Consumer, amended general terms and conditions do not apply to an Agreement that has already been concluded if and insofar as the amendments are to his detriment.
- Growth One is entitled to transfer its rights and obligations under the Agreement to a third party.
- United Arab Emirates law applies exclusively to each Agreement and all legal relationships arising therefrom between the Parties.
- The parties will not appeal to the courts until they have made every effort to settle the dispute in mutual consultation.
- Only the competent court within the district of the District Court of Dubai Sillicon Oasis will be designated in the first instance to take cognizance of any legal disputes between the Parties, without prejudice to Growth One's right to designate another competent court according to the law. However, a Consumer is entitled to choose the competent court according to the law within one month after Growth One has announced In Writing that it wishes to litigate before the court designated by it.