FASTEX EXCHANGE FZE GENERAL RISK WARNING
A. How to interpret this Risk Warning
All terms used in this notice, which are defined in the Fastex Terms of Use (the “Terms of Use”), have the same meaning and construction as in the Terms of Use.
This General Risk Warning provides users with information about the risks associated with trading in Virtual Assets and the Services provided by Fastex. Users are strongly advised to read this General Risk Warning carefully before deciding to start trading on the Platform.
The risks outlined in this statement are not exhaustive and only describe the general nature of the risks involved with holding or trading Virtual Assets. The intention of this statement is just to outline the risks, and not to discuss in detail all the risks associated with holding or trading Virtual Assets. Users should undertake their own assessment as to the suitability of trading in Virtual Assets based on their own research and in a manner that is proportionate with their experience, financial resources and objectives.
B. Risk disclosures
- the value of Virtual Assets is variable (up and/or down), cannot be guaranteed, and can be highly volatile;
- investments in Virtual Assets include an element of risk and returns cannot be guaranteed;
- a Virtual Asset is not a legal tender and is not backed by the UAE government;
- legislative and regulatory changes or actions at national level or international level may adversely affect the use, transfer, exchange, and value of Virtual Assets;
- transactions in Virtual Assets may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable;
- some Virtual Asset transactions may be deemed to be made when recorded on a public ledger, which is not necessarily the date or time that the user initiates the transaction;
- the value of Virtual Assets may be derived from the continued willingness of market participants to exchange fiat currency for Virtual Asset, which may result in the potential for permanent and total loss of value of a particular Virtual Asset should the market for that Virtual Asset disappear;
- the volatility and unpredictability of the price of Virtual Assets relative to fiat currency may result in significant loss over a short period of time;
- the nature of Virtual Assets may lead to an increased risk of fraud or cyber-attacks; and
- the nature of Virtual Assets means that any technological difficulties experienced by Fastex may prevent the access or use of a user’s Virtual Assets.