General Risk Disclosure
A. Explanation of this Risk Disclosure
B. Fastex Services
Fastex Services involve various risks. The value of Digital Assets can decrease completely or partially and they can be subjected to drastic fluctuations. Their transferability may not always be guaranteed, and some transfers might not be reversible. This is just a snapshot of the potential risks tied to using Fastex Services. This advisory doesn't encompass all associated risks or how these risks might affect you personally.
C. Risk of Liquidity and Transferability
Digital Assets might lack liquidity, thus hindering or preventing you from selling or exiting a position at your preferred time. Furthermore, they might not always be transferable, and some transfers might not be reversible. This can happen anytime, including during swift price changes.
D. Risk of Privacy and Security
Although Fastex implements measures to secure your transactions and account details, some transactions aren't private and could be registered on public Distributed Ledger Technologies (DLTs). Moreover, Digital Assets can be exposed to fraud, manipulation, theft, including hacking and other intentional schemes, and may not have legal protections.
E. Market Risks
Trading Digital Assets carries significant market risk and price volatility. Their value can vary drastically, quickly and without notice, due to market fluctuations and other factors. They may lose their value partially or entirely.
F. Legal and Regulatory Risks
Changes in legislation and regulations can significantly impact the value of Digital Assets. They may not have legal protections, hence, staying updated about the legal environment in your jurisdiction is crucial.
G. Fees & Charges
Our fees and charges are specified here. Fastex may, at its own discretion, modify these fees and charges occasionally. Please be aware of all costs and charges that apply to you, as they will influence your profits from using Fastex Services.
H. Availability Risk
We can't guarantee that Fastex Services will be available at all times or that they won't be affected by unexpected service outages or network congestion. It may not be feasible for you to purchase, sell, store, transfer, send, or receive Digital Assets when you want to.
I. Third-Party Risk
Third parties, like payment providers, custodians, and banking partners, may partake in providing Fastex Services. You might be subject to their terms & conditions, and Fastex might not be liable for any losses that these third parties may cause you.
J. Security Risk
Fastex cannot eradicate all security risks. You are responsible for safeguarding your Fastex Account password, and you might be accountable for all transactions under your Fastex Account, whether you authorized them or not. Digital Asset transactions may be irreversible, and losses due to fraudulent or unauthorized transactions may not be restorable.
K. Risks Pertaining to Digital Assets
Considering the nature of Digital Assets and the technologies they are based on, several inherent risks exist, including but not limited to:
1. Issues, faults, hacks, exploitation, errors, protocol failures or unexpected events related to a Digital Asset or the technologies or economic systems it depends on;
2. Irreversibility of transactions in Digital Assets. Consequently, losses from fraudulent or unintentional transactions may not be recoverable;
3. Technological advancements leading to a Digital Asset becoming obsolete;
4. Delays causing transactions to not be settled on the agreed delivery date;
5. Attacks on the protocol or technologies a Digital Asset depends on, including but not limited to several types of attacks such as distributed denial of service, sybil attacks, phishing, social engineering, hacking, smurfing, malware, double spending, majority-mining, consensus-based or other mining attacks, misinformation campaigns, forks, and spoofing.
L. Monitoring Risks
Digital Asset markets operate round-the-clock, throughout the week. Rapid price changes can occur anytime, even outside regular business hours.
M. Communication Risks
When communicating with us electronically, be aware that such communications can fail, can be delayed, might not be secure, and/or might not reach the intended destination.
Fluctuations in currency exchange will affect your profits and losses.
O. Legal Risk
Changes in laws and regulations may significantly affect the value of Digital Assets. This risk is unpredictable and may differ from one market to another.