Terms, Conditions and Representations
1. NextGenFX is a trading name of AT Software Ltd. (“NextGenFX” or “the Company”) is a software development and hosting International Business Company (“IBC”), registered in the Seychelles.
2. NextGenFX, nor anyone representing the Company, is not involved in providing financial advice or any other service which is regulated in any jurisdiction in which it operates.
3. The business of NextGenFX is to develop software for use in making trades on an automated basis in the foreign exchange markets. The details of the software are confidential and will not be made available for inspection in any circumstances, except with the authorisation of the Board of NextGenFX. The software is of a specialised and complex nature and is only available for use under the hosting services provided by the Company.
4. NextGenFX represents that:
4.1. trading in foreign exchange markets carries a high level of risk. This risk can be exaggerated at times of news releases and can be even greater as a result of gearing levels available in brokers’ trading accounts
4.2. the level of risk is such that Clients need to be aware that they could lose an amount equal to or greater than their entire investment. Therefore, Clients should not invest or risk money that they can not afford to lose.
4.3 The Client is solely responsible for their investments, as well as per their knowledge and understanding of the risks involved. NextGenFX will NOT be liable for any losses, under ANY circumstances.
5. NextGenFX represents that past performance is no guarantee of future profitability.
6. NextGenFX will be continuously researching brokers suitable for the software. From time to time it will inform Clients the broker or the list of brokers found suitable. The Company does not vouch for these brokers and does not have any liability for their acts as it only analyses their suitability for the software. NextGenFX advises that many brokers are NOT regulated. Although NextGenFX will try to collect data and financial information on brokers from third parties, the information should be viewed as out of date, possibly not correct and should not be relied on. Clients must do their own due diligence and confirm or check if the information given is correct. NextGenFX only tries to help the Client in being more informed but does not make an exhaustive research about the information accuracy and source reliability. NextGenFX makes no representations as to the brokers integrity, safety, financial stability or compliance with law and regulation. Clients must be aware that it is possible that some brokers that NextGenFX reports to be suitable for the software may turn out to be a "SCAM" broker. NextGenFX will not be held responsible for this, as is the nature of the FOREX market. The Client is responsible for doing their own due diligence before opening and funding a broker account.
7. NextGenFX shall not be responsible or liable for any direct, indirect, incidental, consequential, or other losses or damages, or for any damages pertaining to loss of profits or business, loss of use or data or other intangible damages or losses, even arising out of or relating to (i) the use of the software and/or any information or content contained on the software, or any errors or omissions therein, or the use of, or inability to use the software by the Client; (ii) the cost of procurement of substitute services; (iii) unauthorized access to the Client profile by a third party or if the software is hacked.
8. It is not unknown for brokers to reverse/cancel trades. Clients need to be aware that profits should be withdrawn in order to pay the Company’s fees. Failure to do so and a reversal after 7 days of the trade will still render the Client liable to NextGenFX’s fees, without exception.
9. NextGenFX understand that it has become normal practice for a trader that is making money to get friends and family to open accounts for them once a particular broker has withdrawn the facility to trade
in their own name. Therefore NextGenFX accept that some accounts you may have hosted by the Company may not be in your own name. As the direct customer of NextGenFX, the Client acknowledges that these accounts are your own funds or, if you have introduced another individual that is trading on your account with NextGenFX, you warrant that any such party is also bound by these terms, conditions and representations.
10. NextGenFX will charge the Client a pre agreed percentage of the profits generated employing a High Water Mark. If in any month a loss is incurred NextGenFX will issue a credit note for that amount of the fee associated with the loss to be offset against future profit charges. In the event that the Client terminates the relationship with the Company before recovering such loss, the benefit of the credit note will be cancelled. NextGenFX will NOT refund any loss under ANY circumstances.
11. NextGenFX will raise invoices when it deems appropriate, which may be as often as weekly. These invoices will be for the profits made on the trading accounts that are hosted by NextGenFX with its software. If an invoice is not paid within 7 days accounts will be suspended and if not paid within 14 days your account will be removed from NextGenFX hosting servers.
12. NextGenFX provides logarithmic trading software that operates on the clients own broker accounts. NextGenFX never holds client funds. The only funds a client can send NextGenFX is for service invoices payment. As such it is the broker’s responsibility to adhere to anti money laundering laws. As NextGenFX or its directors, legal representatives or employees do not provide any form of financial advice or financial service the company is not required to be registered with any financial authority and as such is not.
13. By agreeing to these Terms, Conditions and Representations, Clients declare that they will not use the software for any unlawful purpose.
14. The broker information and/or recommendations and other broker information which comes into your possession through your association with the Company is highly sensitive and confidential. It is provided to the Client solely for the purposes of enabling participation in the hosting service provided by NextGenFX. Sharing this information with an unauthorised third party will result in termination of the Client relationship, as well as the client being liable to pay NextGenFX $10000 (TEN THOUSAND UNITED STATES DOLLARS) for every broker name or confidential information that has been shared.
15. NextGenFX may be required, in certain circumstances, to disclose information in good faith and where NextGenFX is required to do so in the following circumstances: by law or by any court; to protect the rights, property or safety of NextGenFX, its customers or third parties.
16. NextGenFX reserves the right to change, modify, add or remove portions of these terms at any time. NextGenFX will inform every time a change is made. If the Client use the software after a change is informed it means the term is agreed.
17. This Terms, Conditions Representations and everything related to the software are subject to the laws of Seychelles. If there is a dispute between the Client and NextGenFX that results in litigation, then the Client must submit to the jurisdiction of the courts of Seychelles.
NextGenFX software is a trading name of AT Software Ltd., a company incorporated in the Seychelles, registration
number No. 214648 and having its registered office at Suite 1, Second Floor, Sound & Vision House, Francis Rachel Str., Victoria, Mahe, Seychelles, Email: [email protected]
NextGenFX is a trading name of AT Software LTD. NextGenFX Software, nor anyone representing the Company, is involved in providing financial advice. NextGenFX Software, nor anyone representing the Company, makes any Covenants, Representations and Warranties what so ever, as to the safety of your funds with any Forex Broker, or financial institution.
Our Terms and Conditions can be found HERE.