Service Agreement

  • This service agreement refers to:
        • Insta Pay UAE LLC as the Company and
        • to the Electronic Trading Center service as Service and
        • to the service beneficiary as Client
    • Service Terms and Conditions
      With reference to our intention (Client) to obtain Electronic Trading Center services via Insta Pay Trading app from your esteemed establishment for the purpose of purchasing currencies and metals in Foreign Exchange Market, we hereby acknowledge our acceptance of the following terms and conditions which shall be applied to currency trading.
      We discharge the Company of any liability arising from the currency and metals prices fluctuations or any losses whatsoever which may be sustained by us in connection with obtaining Electronic Trading Center services from you in respect of trading the currencies or metals. We already realize that our decision to trade currencies or metals or the engagement in any financing through you shall be at our own full responsibility and risk, without any liability to be responsible on the Company or its employees.
    • Undertaking
      We undertake (Client) to bear all actual fees, expenses and costs resulting from the Company’s compliance with our instruction, as well as any losses incurred by the Company as the result thereof. We authorize the Company to debit all these to our accounts therewith.
      Furthermore, to the fullest extent permitted by law we shall at all times whether during the course of the provision of the financing or thereafter, indemnify the Company and keep it fully and effectively harmless and indemnified against all actual costs, claims, demands, expenses and liabilities of whatsoever nature arising out or in connection with its approval of extending banking facilities to us to trade the currencies.
    • Company’s Entries
      Save for the clear or international accounting error, the Company entries, records, statements and any copies or extracts thereof shall be treated as a qualified proof and evidence in establishing all the financial transactions carried by us with the Company from time to time.
    • Company Responsibility
      We understand and declare (Client) that, save for the error or gross default by the Company, the Company shall not be responsible for any loss sustained by us as a result of the Company abidance by our instructions or its approval of extending services to us to trade the currencies, or any damage incurred for reasons beyond the company’s control.
    • Service Fees
      We acknowledge our acceptance (Client) to pay 35% in monthly bases of the profit to the Company for the account portfolio trading and management services in maximum (10) days from the invoice date.
    • Profit distribution
      The company shall transfer the profits in monthly bases according to the client’s instructions and after each month in two (2) business days – bank transfer time is not included – and to the same in client’s deposit account.
    •  Commission
      The company has the right to allocate a percentage of the Service Fees as a commission to any employee, 3rd party individual or business entity against their efforts to introduce IPT Services and to bring more investors, the commission paid in monthly bases and after being collected from the investor’s profit, the commission is considered a continuous monthly payment as long as the investor services exists and his/her account are generating profits. The commission percentage is set through a separate agreement between IPT and the employee, 3rd party individual or business entity.
    •  Funds withdrawal
      Client can request to withdraw his/her funds at any time, the request can be submitted through the app itself, with the consideration that current trades are running, after carefully reviewing the client’s account and running trade the client will be offered the following options:

      • To close current running trades if they are in positive profit and withdraw client’s funds, the duration of this option will take (2) to (7) working days
      • To close current running trades if they are in negative profit and withdraw the rest of the remaining funds (this may occur losing some of the remaining funds) , the duration of this option will take (2) to (7) working days
      • The client to wait for the running trades to close in break-even position to lose nothing, the duration of this option will take some time depends on market circumstances, in which it takes usually (4-6) weeks or more, the Company has no control on the market movement and cannot predict  or spaculate an accurate time frame for this.
    • The client should seek independent advice or make his/her own decisions as to the suitability of the investment or service. Investments in financial products involve substantial risk of loss and is not suitable for every investor. The valuation of financial products may fluctuate, and, as a result, clients may lose more than their original investment. Past performance is not indicative of future results.
    • Investing in CFDs involves a high degree of risk that you will lose your money due to the use of leverage, particularly in fast moving markets, where a relatively small movement in the price can lead to a proportionately larger movement in the value of your investment. This can result in loses that exceed the funds in your account. You should consider whether you understand how CFDs work and you should seek independent advice if necessary.

    Revised March 2023