General Risk Warning
1. Interpret this Risk Warning
All defined terms used in this Risk Warning are as defined in the Fastex Terms of Use (the “Terms”) unless otherwise stated.
2. Fastex Services
This Risk Warning provides a general description of the risks when you use Fastex Services.
This Risk Warning cannot disclose your personal risks. It is important that you fully understand the risks involved before making a decision to use Services.
3. No advising services
We do not provide financial, investment, trading, or any other sort of advice. We provide financial information according to which you can make decisions at your own risk.
4. No brokerage or mediation services
We do not provide brokerage or mediation services. Fastex is not your broker, intermediary, agent, or advisor. Fastex offers you execution–only basis services. It is up to you to determine whether Fastex Services is convenient for your activities or not.
5. No Tax, Regulatory or Legal Advice
Fastex is not responsible for determining what taxes you might be liable to, and how they apply, when transacting through Fastex Services. It is your responsibility to determine what taxes can or may arise from transacting through Fastex Services, and you acknowledge that Fastex does not provide legal or tax advice in relation to these transactions. If you have any doubts about your tax status or obligations when using Fastex Services, or with respect to the Digital Assets held to the credit of your Fastex Account, you may wish to seek independent advice.
You acknowledge that when, where and as required by applicable legislation, Fastex shall report information regarding your transactions, transfers, distributions, or payments to tax or other public authorities. Similarly, when, where and as required by applicable law, Fastex shall withhold taxes related to your transactions, transfers, distributions, or payments. Applicable legislation could also prompt Fastex to request additional tax information, status, certificates, or documentation from you. You acknowledge that failure to answer these requests within any legally required time frame may result in Fastex withholding taxes, to be remitted to tax authorities as required by relevant law. You are encouraged to seek professional and personal tax advice regarding the above and before making any Digital Asset Transaction.
6. Market Risks
Digital Asset trading is considered a high-risk financial instrument. Market conditions can change significantly in a very short period of time. This can have a direct impact on your profits and losses.
7. Liquidity risk
Digital Assets may have limited liquidity, which may make it difficult or impossible for you to sell or exit a position when you wish to do so. This may occur at any time, including at times of rapid price movements.
8. Fees & Charges
Our fees and charges in relation to Fastex
Services are set out here. Fastex may, at any time and at its discretion, update the fees & charges. Please be aware of all fees and charges that apply to you, because such fees and charges will affect the gains you generate from using Fastex Services.
9. Availability Risk
We do not guarantee that the Fastex services will be available at any particular time or that Fastex Services will not be subject to unplanned service outages or network congestion. It may not be possible for you to buy, sell, store, transfer, send or receive Digital Assets when you wish to do so.
10. Third-Party Risk
Third parties, such as payment providers, custodians, and banking partners may be involved in the provision of Fastex Services. You may be subject to the terms & conditions of these third parties, and Fastex will not be responsible for any loss that these third parties may cause to you.
11. Security Risk
It is not possible for Fastex to eliminate all security risks. You are responsible for keeping your Fastex Account password safe and for all the transactions made through your Fastex Account, whether you authorized them or not. Transactions in Digital Assets may be irreversible, and losses due to fraudulent or unauthorized transactions may not be recoverable.
12. Risks related to Digital Assets
Given the nature of Digital Assets and their underlying technologies, there are a number of intrinsic risks, including but not limited to:
- faults, defects, hacks, exploits, errors, protocol failures or unforeseen circumstances occurring in respect of a Digital Asset or the technologies or economic systems on which the Digital Asset rely;
- transactions in Digital Assets being irreversible. Consequently, losses due to fraudulent or accidental transactions may not be recoverable;
- technological development leading to the obsolescence of a Digital Asset;
- delays causing a transactions not be settled on the scheduled delivery date; and
- attacks on the protocol or technologies on which a Digital Asset depends, including, but not limited to: i. distributed denial of service; ii. sybil attacks; iii. phishing; iv. social engineering; v. hacking; vi. smurfing; vii. malware; viii. double spending; ix. majority-mining, consensus-based or other mining attacks; x. misinformation campaigns; xi. forks; and xii. spoofing.
13. Monitoring Risks
Digital Asset markets are open 24 hours a day, 7 days a week. Rapid price changes may occur at any time, including outside of normal business hours.
14. Communication Risks
When you communicate with us via electronic communication, you should be aware that electronic communications can fail, can be delayed, may not be secure, and/or may not reach the intended destination.
15. Currency
Currency exchange fluctuations will impact your profits and losses.
16. Legal Risk
The risk of changes in laws and regulations is unpredictable and may materially affect the value of Digital Assets.