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Client Agreement

Client agreement can be found below, or in the here [download]. 


This notice is provided to you (the “Client” or “you”) because you are considering dealing with MEX Digital FZE (hereinafter “the Company” or “MEX”) for conducting an exchange, trade or conversion between virtual assets.


The Company intends to provide the following ‘Broker-Dealer Services’ under the VARA Rulebook Modules:


  1. Arranging orders for the purchase and sale of virtual assets between two Entities;

  2. Soliciting or accepting orders for virtual assets and accepting currency, or other Virtual Assets for such orders;

  3. Facilitating the matching of transactions in virtual assets between buyers and sellers;

  4. Entering into virtual assets transactions as a dealer on behalf of the Entity for its own account;

  5. Making a market in virtual assets using client assets; or

  6. Providing placement, distribution or other issuance related services to clients issuing virtual assets.


The Company intends to provide the following ‘Exchange Services’ under the VARA Rulebook Modules:


  1. Conducting an exchange, trade or conversion between virtual assets and currency;

  2. Conducting an exchange, trade or conversion between one or more virtual assets;

  3. Matching orders between buyers and sellers, and conducting an exchange, trade or conversion between [i] virtual assets and currency or [ii] one or more virtual assets; or

  4. Maintaining an order book in furtherance of items [a], [b] or [c] above.


MEX is regulated and authorised by the VARA, under registration number [insert details]. 


You should be aware that investments carry varying degrees of risk and as their underlying value can fall as well as rise, you may not get back the full amount invested.


You are advised to read and understand the risks involved in trading of virtual assets. You acknowledge and agree that MEX shall not be responsible for or otherwise liable for any direct or indirect loss or damage of any kind whatsoever arising directly or indirectly from the occurrence in full or in part of any or all of the following risk events.


  • Losses may occur over a short period of time based on a number of factors, including, but not limited to, fluctuations in the price and liquidity of virtual assets, changes in applicable laws and regulations, a lack of financial regulation or deposit insurance protection, a lack of recognition of virtual assets as legal tender or lack of government backing; 

  • Transactions in virtual assets may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions will not be recoverable, and some virtual assets transactions may be deemed to be made when recorded on a public ledger, which is not necessarily the date or time that you initiated the transaction, rendering “stop” orders or cancellations ineffective in some cases; 

  • The value of virtual assets may be derived from the continued willingness of market participants to exchange fiat currency or virtual assets for virtual assets, which may result in the potential for permanent and total loss of value of a particular virtual asset should the market for that virtual assets disappear; and 

  • The nature of virtual assets may lead to an increased risk of fraud or cyber-attack and may mean that technological difficulties experienced by MEX may prevent the access to or use of your virtual assets.

  • Virtual assets not being legal tender or backed by a government;

  • the value, or process for valuation, of virtual assets, including the risk of a virtual asset having no value;

  • the volatility and unpredictability of the price of virtual assets relative to fiat currencies;

  • that trading in virtual assets may be susceptible to irrational market forces;

  • that the nature of virtual assets may lead to an increased risk of financial crime;

  • that the nature of virtual assets may lead to an increased risk of cyber-attack;

  • there being limited or, in some cases, no mechanism for the recovery of lost or stolen virtual assets;

  • the risks of virtual assets being transacted via new technologies, (including distributed ledger technologies) with regard to, among other things, anonymity, irreversibility of transactions, accidental transactions, transaction recording, and settlement;

  • that there is no assurance that a person who accepts a virtual asset as payment today will continue to do so in the future;

  • that the nature of virtual assets means that technological difficulties experienced by the us may prevent the access or use of a your virtual assets;

  • any links to virtual assets related activity outside the Emirate of Dubai, which may be unregulated or subject to limited regulation; and

  • any regulatory changes or actions by VARA that may adversely affect the use, transfer, exchange, and value of a virtual asset.


This statement is not included to be an exhaustive list of all the risks associated with virtual assets and using MEX. You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You are solely responsible for determining the nature, potential value, suitability, and appropriateness of these risks for yourself.


While maintained with high levels of security, the nature of operations of leading third-party crypto asset providers that maintain wallets for MEX could present risks at third party levels, including but not limited to risk of loss; liquidity risk; credit risk; market risk; operational risk; risk of cyber-attack; fraud risk; and insolvency risk.

Risk of Loss:


You acknowledge and agree that your access to and use of the services is at your own risk and that the risk of loss in trading virtual assets can be substantial.


The risk of loss in transactions involving virtual assets can be substantial. You should therefore carefully consider whether such transactions are suitable for you in light of your investment objectives, financial circumstances, your tolerance to risks and your investment experience.


You should be capable of bearing a full loss of the amounts invested as a result of or in connection with any virtual asset transaction and any additional loss over and above initial amounts traded or invested that may become due and owing by you. In considering whether to trade or invest, you should inform yourself and be aware of the risks generally, and in particular should note the specific risk factors which may apply to any general virtual asset transaction. 


MEX will not be held liable for any losses arising from the failure of its services, irrespective of the cause, including technical glitches, hacking incidents, natural disasters, or unforeseen events. However, MEX is committed to taking all necessary and reasonable measures to mitigate potential losses in line with its Risk Management Policy. This includes the identification, assessment, evaluation, treatment or mitigation, ongoing monitoring and reviewing, as well as reporting of risks.


Risk Management Procedures:


Identification: MEX employs both formal and informal methods, such as targeted consultations, workplace practice observation, regulatory requirement monitoring, system reviews, regular audits, and analysis of incident-related information, to identify risks.


Assessment: MEX has established an information security risk assessment process, defining and applying criteria for risk acceptance and conducting assessments.


Evaluation: The ongoing identification and analysis of risks are subject to re-evaluation based on internal assessments and changes in the external environment. The aim is to decide which risks are acceptable and which ones require treatment, considering the risk acceptance criteria.


Treatment/Mitigation: MEX addresses risks by identifying and implementing actions to eliminate or reduce their impacts.


Monitoring and Reviewing: Continuous monitoring and reviewing of risks and their treatment strategies are integral to effective risk management and ongoing quality improvement.


Reporting: Risk reporting serves the key purpose of enabling MEX to consistently monitor the progress of risk management and any changes to the risk profile.


Mitigating Risk of Loss:


MEX is committed to implementing and maintaining appropriate security measures, including encryption, access controls, and backups, to safeguard client data and assets. Regular review and updates to these security measures ensure their continued effectiveness and relevance.


Protection Against Service Failures:


MEX will exert appropriate efforts to safeguard against losses resulting from any service failures. These efforts include proactive identification of vulnerabilities, robust encryption, stringent access controls, and regular system monitoring. MEX continually reviews and updates its protective measures, aligning them with industry best practices. In the event of service disruptions, transparent communication with users and ongoing education contribute to a secure and trustworthy service environment.


Client Communication and Remedial Action:


MEX undertakes to provide clients with timely and accurate information regarding any material failures in its services, including Broker Dealer Services. Moreover, MEX commits to taking suitable remedial action to address such failures.


Acknowledgment of Risk by Users:


Users of MEX services, including Broker Dealer Services, acknowledge and accept the inherent risk of loss associated with these services. By utilizing these services, users agree to hold MEX harmless from any losses resulting from the provision of these services.


Market Risk


The price of virtual assets is highly volatile and the market for virtual assets is still new and uncertain. A particular virtual asset may lose part or substantially all of its value. An investment in virtual assets carries a high level of risk and, as such, may not be suitable for all Clients.


Trading Risk


  • An order incorrectly entered by the Client on the trading platform may be executed at the price or quantity not desired by the Client or an order entered for the wrong virtual asset may result in an unwanted transaction.

  • The services may be unavailable due to force majeure events, unusual or exceptional market conditions or similar events, which may prevent the client to liquidate its virtual assets held in the custody of MEX.


Liquidity Risk


  • The orderbook of virtual assets on MEX may not have adequate liquidity at all times to execute the order placed by the Client.

  • MEX may withdraw a virtual asset from its market for any reason with or without notice.


Custody Risk


  • During deposit or withdrawal, virtual assets may be lost due to incorrect wallet address entered or provided. It may not be possible to recover virtual assets sent to incorrect wallet addresses and MEX shall not be responsible for transfer to incorrect wallet addresses.

  • Each virtual asset has its unique wallet address. While transferring the virtual asset, if the Client uses the wallet address of another virtual asset, such virtual assets would be lost forever and cannot be recovered.

  • In case a virtual asset is discontinued for trading, MEX shall provide a time frame for Clients to withdraw their virtual assets. If the Client fails to withdraw virtual assets prior to MEX ceasing to support transfer of any such virtual assets, this may result in the loss of any such virtual assets.


Virtual Asset Risk


  • The features, functions, characteristics, operation, use and other properties of any virtual asset (“Virtual Asset Properties”) and the software, networks, protocols, systems, and other technology (including, if applicable, any blockchain) (“Underlying Technology”) used to administer, create, issue, transfer, cancel, use or transact in any virtual assets may be complex, technical or difficult to understand or evaluate.

  • Any virtual asset and its Underlying Technology may be vulnerable to attacks on the security, integrity or operation of the virtual asset or its Underlying Technology (“Attack”).

  • Any virtual asset, Virtual Asset Properties or Underlying Technology may change or otherwise cease to operate as expected due to a change made to the Underlying Technology, a change made using features or functions built into the Underlying Technology or a change resulting from an Attack. These changes may include, without limitation, a “fork” or “rollback” of a virtual asset or the underlying blockchain.

  • Any virtual asset may be cancelled, lost, or double spent, or otherwise lose all or most of their value, due to forks, rollbacks, Attacks, changes to Virtual Asset Properties or failure of the virtual asset to operate as intended.

  • Any virtual asset may decrease in value or lose all of its value due to various factors including changes to Virtual Asset Properties or perceived value of Virtual Asset Properties, Attacks, suspension or cessation of support for a virtual asset by MEX or other exchanges or service providers, legislative or regulatory activity and other factors outside the control of MEX.


Network Risk


  • Trading on the online platform exposes the participants to internet related risks. The entire internet, or parts of internet, may be unreliable or unavailable at any given time. Also, interruption, delay, corruption or loss of data or loss of confidentiality in the transmission of data, may occur when transmitting data via the internet.

  • Messages including but not limited to orders, trade confirmation, deposit and/or withdrawal requests, email communications between MEX and the Client, may be delayed, intercepted, altered, or lost during transmission, due to hardware, software or network connectivity issues or any other issues arising from service provided by third party vendors.


Currency Risk


All virtual assets transacted on MEX are quoted against a fiat currency or another virtual asset. fiat currencies are prone to exchange rate risk.


Legal Risk


The legal status of certain virtual assets may be uncertain. Clients have a responsibility to comply with the applicable laws and are solely responsible for reporting and paying any taxes arising from use of MEX’s services.


Loss of private key


The Client must ensure that the private key of its wallet is stored securely and not shared with any other Person. The loss of private key will result in the Client losing the virtual assets lying in its own Client wallet permanently.


Cyber-attack Risk


  • The virtual assets may be targeted by hackers who may attempt to steal virtual assets or otherwise intervene in the functioning of the MEX. This includes (but is not limited to) interventions by way of distributed denial of service (DDoS), sybil attack, phishing, social engineering, hacking, smurfing, malware, double spending, and spoofing.

  • The transfer from or storage of virtual assets in a digital wallet exposes the virtual asset to the risk of loss due to security breaches arising from hacking, phishing, social engineering, smurfing, malware, spoofing and such other means. In most cases, it may not be possible to recover lost or stolen virtual assets.

  • Unauthorised access of the Client Account by third parties, may lead to loss of fiat currencies, virtual assets and/or trading losses.


Insolvency Risk


The Client understands and acknowledges that in the event that MEX becomes insolvent and there is (for whatever reason) a shortfall in Client money, the available funds will be distributed in accordance with relevant provisions of the VARA Rulebooks and other applicable regulations.


Third Party Risk


  • The Client may be exposed to errors, delays, acts, or omissions by third party providers including financial or payment institutions.

  • The Client may be exposed to the default by third party providers vis-à-vis MEX, including financial or payment institutions which may result in the Client suffering total or partial loss in respect of its client account.


Risk Mitigation 


Assumption of Risks:


Please ensure that you understand and accept the inherent risks associated with virtual assets. Virtual assets are subject to various factors that can impact their value and security. By acknowledging these risks, the client is essentially stating that they are aware of the potential challenges associated with virtual assets and are willingly engaging in transactions or services involving them. 


Security Measures:


MEX commits to implementing and maintaining the security measures. It emphasises that MEX will adhere to industry-standard security practices to protect the virtual assets held on behalf of the client. However, it also includes a crucial caveat – the acknowledgment that no security measure is entirely guaranteed.

This disclaimer is included to make it clear that while MEX is taking reasonable steps to secure the virtual assets, there is always a residual risk of unforeseen circumstances or events beyond their control. By explicitly stating this, MEX seeks to limit its liability in the event of a security breach that leads to the loss or compromise of virtual assets.


Compliance with Applicable Laws:


This provision ensures that both parties agree to comply with all relevant laws and regulations related to virtual assets. It sets the expectation that MEX will make reasonable efforts to stay informed about changes in regulations and will adjust its services accordingly.


MEX commits to notifying the client and making necessary adjustments to ensure compliance. This proactive approach helps mitigate legal risks and demonstrates a commitment to operating within the bounds of the law.


These risk mitigation provisions are designed to establish a clear understanding between the Client and MEX regarding the risks associated with virtual assets, the security measures in place, and the commitment to compliance with applicable laws.


As mentioned above, you understand and agree that by using MEX and placing orders, you have sufficient knowledge to place such orders. You are responsible for making sure that any orders placed by you are accurate and intentional. We may, in some cases, and at our sole discretion, require secondary electronic, verbal, written or other confirmation before acting if your account activity is outside of its normal range of activities. You further understand and agree that we do not provide tax or investment advice, or legal advice relating thereto, and that all such decisions are made by you. To the extent you deem necessary, you should consult with your own qualified tax, financial or legal professionals in your own jurisdiction prior to using MEX or implementing a financial plan. We are not responsible or liable to you in connection with your decisions.


You understand and agree that MEX may connect to third-party websites or content, use third parties to gather, review and transmit your data or activity, and/or use third parties to provide us with market or other financial data. You hereby consent to our use of third parties for such purposes and agree that such third parties may (as applicable and necessary) access your account information. You agree not to violate the intellectual property rights of such third parties.


You understand and agree that MEX may engage any subcontractors and/or third-party service provider to perform any or all of the services provided herein. You hereby consent to our use of subcontractors and/or third-party service providers for such purposes and agree that the subcontractors and/or third-party providers may (as applicable and necessary) access your account information. You agree not to violate the intellectual property rights of such third parties and/or subcontractors.


As mentioned in this section the risk of loss in trading or holding virtual assets can be substantial. You should carefully consider whether trading or holding virtual assets is suitable for you in light of your financial condition.




This AGREEMENT is dated [insert date] (the “Effective Date”) and is made BETWEEN:


  1. [insert details (name and address) of the person or entity], for whom we intend to provide services in accordance with the terms under this Agreement (the “Client”); and 

  2. MEX Digital UAE FZE, a company incorporated in the Dubai World Trade Centre Freezone (“DWTC”) whose registered office is currently at Ubora Tower, Business Bay, Dubai, United Arab Emirates (“UAE”) (“MEX”).


Client and MEX are individually referred to as “Party” together referred to as the “Parties”


Authorisation Statement


We are authorised by the Virtual Assets Regulatory Authority (“VARA”) with the VARA registration number [insert details] to carry on the financial services of (i) exchange; (ii) broker dealer; in and from DWTC. The complete statement of what we are authorised to carry on, which may change from time to time, can be found on our listing on the VARA Register at [insert details].  






The Client wishes to deal in over-the-counter financial products in accordance with the Client's instructions from time to time and in accordance with the terms and conditions contained in this Agreement.


These terms and conditions are part of the agreement between MEX Digital UAE FZE (“we”, “our” or “us”) and you the client (“you” or “yourself”) which governs our trading services and all transactions we conduct with you.


These terms and the services contemplated in this Agreement constitute a legally binding contract and the entire Agreement between you and us. They will come into force when you either sign them and return a copy to us or an electronic acceptance mechanism.  You will be deemed to accept them every time you use our services or enter into a transaction with us.


It is also important you read these terms carefully. Copies of these Terms are available on request and/ or can be accessed via the website [insert website link]. 


The Agreement between us is constituted by the following documents: 


  • Application form;

  • These terms and conditions; and

  • Any additional terms and conditions issued by us and notified to you and accepted by you, in connection with our dealings with you;

  • The market information sheet which we may publish from time to time;

  • These documents are referred to as the “Agreement”.

  • There are other materials that explain the basis of our dealings with you and they include: 


Our website, which includes our trading platform. 


Please read this Agreement carefully and seek professional advice if necessary. Contracts that we enter into with you under this Agreement are legally binding and enforceable. By signing the Application form or by electronically submitting your application on our website you confirm that you accept the terms of the Agreement. When we open an account for you, you will be bound by the Agreement in your dealings with us.




If there is any conflict between the terms of this Agreement and any applicable law, the applicable law will prevail.


  1. Headings and examples in this Agreement are for ease of reference only and do not form part of this Agreement.

  2. The singular includes the plural, and the converse also applies. The masculine includes the feminine.

  3. If a word or phrase is defined, its other grammatical forms have a corresponding meaning.

  4. A reference to a person includes bodies corporate, unincorporated, associations, trusts, partnerships, individuals, or other entity, whether or not it comprises a separate legal entity.

  5. A reference to an agreement or document (including a reference to this Agreement) is to the Agreement or document as amended, supplemented, novated or replaced, except to the extent prohibited by this Agreement or that other agreement or document, and includes the recitals, schedules and annexures to that agreement or document.

  6. A reference to a party to this Agreement or another agreement or document includes the party's successors, permitted substitutes and permitted assigns (and, where applicable, the party's legal representatives).

  7. A reference to legislation or to a provision of legislation includes a modification or re- enactment of it, a legislative provision substituted for it and a regulation or statutory instrument issued under it.

  8. Any reference to any enactment includes references to any statutory modification or re- enactment of such enactment or to any regulation or order made under such enactment (or under such a modification or re-enactment).




The MultiBank group of companies (the "Multibank Group") was established in California, USA, in 2005, and since 2016, is headquartered in Hong Kong, under the arm of the holding company of the MultiBank Group, MEX Group Worldwide Limited.


MEX is a company incorporated in the Dubai World Trade Centre Freezone, United Arab Emirates and shall provide the following services (a) broker dealer; and (b) exchange; trading services provider in the virtual asset market space.


Under this Agreement “virtual asset” means any digital asset (including a virtual currency or virtual commodity) which is a digital representation of value based on (or built on top of) a cryptographic protocol of a computer network.


Whilst MEX is wholly owned by MEX Group Worldwide Limited, being a company incorporated in Hong Kong, that company is wholly owned by Naser Zakaria Yousef Taher, being the ultimate beneficial owner of the entire MultiBank group of companies. 


 The Company undertakes ‘exchange’, ‘broker dealer’ services and is therefore licensed and regulated by the VARA. MEX is owned and supported by an experienced and capable staff and investors which have provided the capital to expand and support its operations.


MEX shall ensure the following - 


  1. it is compliant with the general VARA requirement to act honestly, fairly and in the best interests of its clients and the integrity of the market.

  2. it will under all circumstances remain fair, transparent, accurate and sufficiently clear to the client, having regard to the nature of the services and the intended market for such services.

  3. send a copy of this Agreement to each client after it has been entered into.

  4. notify clients of any change to this Agreement at least thirty [30] calendar days prior to any change taking effect.

  5. maintain a record of all versions of Client Agreements and be able to identify all changes made between versions.

  6. At present, Mex outsources the following activities outside the Company – 



if in future it engages with additional third-party service provider, it will clearly identify and inform the client on the third-party service providers, or any entities within the Multibank Group, utilised by Mex and necessary for the services provided under this Agreement. 

  1. at all times identify if and when any virtual assets are no longer under the control of Mex during the provision of any virtual asset activity and describe the entity[ies] liable for virtual assets at all times, including but not limited to where such entity[ies] are located;

  2. in case of a newly created virtual asset or a previously supported virtual asset is no longer supported by Mex (e.g., fork), the new balance of the respective virtual asset will be reflected in the client account. Mex shall be responsible for (i) assessing the impact of such change as soon as possible upon becoming aware of the nature and impact of such change; and (b) communicate clearly with all affected clients throughout the process;






We will deal with you as principal and not as agent on your behalf. This means that any trades are agreed directly between you and us and we will be the counterparty to all of your trades. Unless we agree otherwise in writing, you will also deal with us as principal and not as an agent or representative of another person. You will not permit any person to deal on your behalf unless we agree that such person (the “Agent”) can act on your behalf. We will be entitled to rely on any instructions given to us by the Agent in relation to your account. We may require confirmation that the Agent has authority to act on your behalf at any time we reasonably consider appropriate.


  1. No Personal Financial Advice


We will not provide any personal or financial product advice to you, in relation to the terms and conditions of this Agreement or on the merits of any trade. We deal with you on an execution-only basis and any advice we give you will be general advice only. This means that any advice we do give you has been prepared without taking account of your objectives, financial situation or needs. In the circumstances, you should seek professional advice as to whether the financial products that we offer are suitable for your purposes having regard to your objectives, financial situation or needs. You should obtain our PDS before making any decisions in relation to our products or services.


  1. Investment Research And Other Published Information


We may from time to time send published research reports and recommendations and other publications to you. If the document contains a restriction on the person or category of persons for whom that document is intended or to whom it is distributed, you agree that you will not pass it on to any such person or category of persons. We make no representations as to the time of receipt by you of research reports or recommendations and cannot guarantee that you will receive such research reports or recommendations at the same time as other clients. We shall not be liable for any investment decision you make, based in whole or in part, on any investment research report, recommendation or other publication we send to you. Any such published research reports or recommendations may appear in one or more screen information service.


  1. All Trades At Your Risk


We may, but are under no obligation:


  • To satisfy ourselves as to the suitability of any trade for you;

  • To monitor or advise you on the status of any trades;

  1. Reliance On Your Own Judgment


You must understand the risks of dealing in virtual assets and rely solely upon your own judgement in dealing with us. We are not under any responsibility or owe to you any duty of care to monitor your trades or to prevent you from trading beyond your means or ability or otherwise, to protect you.  


We will assess retail client status from time to time. If you satisfy the criteria to be classified as a retail client, we may classify you as such. We are under an obligation to inform you if we classify you as a retail client.


  1. Our Trading Service


Our trading service is an on-line service, and you specifically consent to the receipt of documents in electronic form via email, website, or other electronic means. Upon your request, we will send you the product disclosure statement and financial services guide in paper form at no charge.


  1. Access To Internet


You confirm that you have regular access to the internet and consent to us providing you with information about us and our services (including market information), our costs and charges and our notices by email or by posting such information on our website or on our trading platform. You acknowledge that in the event that you are unable for any reason whatsoever to place a trade or close a position because of difficulties you may be having with our trading platform, you will immediately telephone our dealing desk to place the trade or close the position.

3. Our Discretions


Various clauses of this Agreement confer discretions on us to act in circumstances that are set out in the relevant provision. 


  1. Opening


After we accept your application, we will open an account in your name. We may split your account into different sub-accounts denominated into different currencies and references in this Agreement to your account is to be taken to include reference to sub-accounts or the relevant sub-accounts, as the case requires. We reserve the right to refuse to open an account for any reason whatsoever.


  1. Account Information


You undertake and warrant to us that any information provided to us is correct and that you will immediately inform us of any material change to that information and including any changes to your contact details or financial status.


  1. Trust Account


All moneys deposited by you to the credit of your account is client money within the meaning of the VARA client money rules. Client money is held in trust for the clients entitled to it, or if the money is invested in accordance with the VARA client money rules, the investment is held in trust for the clients entitled to it.


  1. Naming Of Client


Where two or more natural persons and no others are named as the client, the account will be established in their names as joint tenants unless they specifically advise otherwise. In all other cases, the accounts will be established in the names as tenants in common. All account holders shall be jointly and severally liable for losses, fees or charges arising on a joint account. Among other things, this means that any monies owed on the account shall be payable in full by you or any of the other joint account holders.


  1. Account Details


Upon opening an account with us, you will be given an internet specific password, which must be declared, together with your account number, when you wish to access your account. You will also be given an account name, which must also be declared to access your account in certain circumstances.

It is your responsibility to keep your account number and security information confidential and agree that you will not disclose your account number or password to any other person.

You will be deemed to have authorised all trading  under  your  account  number  irrespective of whether the person using it for the purpose of trading is using it with your authority, unless the trade in question is not one that you in fact authorised directly or through a power of attorney; and


  • The person using the account number obtained it from us as a result of our negligence, or
  • We otherwise act negligently in accepting instructions on your account.


6. Current Virtual Assets that are supported on the TRADING platform


Bitcoin (BTC)


Ether (ETH)


Tether (USDT)

Stable Coin

Dogecoin (DOGE)


Polygon (MATIC)

Layer 2

Solana (SOL)

Layer 1

Tron (TRX)

Layer 1

Litecoin (LTC)


Polkadot (DOT)

Layer 1

Avalanche (AVAX)

Layer 1

Link (LINK)




Dai (DAI)



4. Instructions And Dealing


    1. By Telephone

When you trade by telephone your instructions to open or close a trade must be given to our trader during the same telephone conversation in which the quote was given. We have no liability to you if this telephone conversation is interrupted before we receive an instruction from you to trade on that quote; nor are we under any obligation to repeat the quote in a subsequent conversation.


We will not accept an order left with other employees, on an answering machine or on a voice mail facility.


  1. Changing Authorised Persons

You may, by written notice, change the persons who are authorised from those indicated on the application; but we are not bound by any such variation until we receive written notice. We may act upon the oral or written orders or instructions of any authorised person, or any person who appears to us to be an authorised person, despite the fact that the person may not be authorised. For example, we are entitled to act on any orders or instructions transmitted using your username, account number, user id or password.


  1. Account Security Information

You are required to keep all security information relating to the account, including, but not limited to, any username, account number, user id and password, confidential and we do not have to establish the authority of anyone using these items. If you are aware or suspect that these items are no longer confidential, you should contact us as soon as practicable so that they may be changed.


  1. Further Instructions

We may require instructions from you in respect of any virtual assets related contract and if we do, you must promptly provide us with that information. If you do not, we may, in our absolute discretion take all such reasonable steps at your cost as we reasonably consider necessary or desirable for our or your protection. But this does not detract from your responsibility to keep yourself informed at all times as to the key dates and events affecting your holdings.


  1. Acknowledgement Of Instructions

Instructions may be acknowledged orally or in writing by us, as appropriate.


  1. Internet Instructions

Any order or instruction sent by you by internet will only be deemed to have been received and will only then constitute a valid instruction between you and us, when such order or instruction has been recorded as accepted and confirmed to you.


  1. Instruction Not A Contract

When you transmit an order or instruction to us, this does not automatically give rise to a binding virtual asset holding between you and us because any order made by you is always subject to us accepting your offer and such order having been recorded as accepted and confirmed by us to you. You are responsible for inquiring of us if a confirmation is expected in relation to a transaction but has not been received by you.


Right not to accept orders


We may, but shall not be obliged to, accept instructions to enter into a transaction. If we decline to enter into a proposed transaction, we shall not be obliged to give a reason, but we shall promptly notify you accordingly.


Execution of orders


We shall use our reasonable endeavours to execute any order promptly, but in accepting your orders we do not represent or warrant that it will be possible to execute such order or that execution will be possible according to your instructions. If we encounter any material difficulty relevant to the proper carrying out of an order on your behalf, we shall notify you promptly. We will notify you of any material changes to our order execution policy, but it is your responsibility to check for any other changes to our order execution policy as published from time to time at We will consider the continued placement of orders by you to constitute your continued consent to our order execution policy as in effect from time to time.


  1. Correct Designation


It is your responsibility to ensure that moneys sent to us are correctly designated in all respects. We will provide you from time to time with details of such arrangements as may apply to making payments to us, which may include permitting payments in different currencies as notified by us to you.


  1. Eligibility


A person prior to registering as a client of MEX (“Applicant”) shall abide by this Agreement which includes but not limited to:


  • the Applicant, if an individual, shall not be less than 18 years of age;

  • the Applicant, if a body corporate, is an incorporated person and has been legally formed under the relevant laws;

  • the Applicant fulfils and will continue to meet the financial requirements (where required) as prescribed by MEX from time to time;

  • the Applicant has not been adjudged insolvent, or been subject to a receiving order of insolvency or bankruptcy;

  • the Applicant has not been convicted of an offence involving any crime or financial impropriety;

  • the Applicant agrees to be bound by this Agreement and comply with the VARA Rules, the regulations and applicable laws;

  • the Applicant has in place policies for the prevention of money laundering and combating the financing of terrorism;

  • the Applicant agrees to cooperate with MEX and the VARA to enable MEX and the VARA to discharge their regulatory and enforcement functions to conduct an investigation into its affairs;

  • the Applicant is not located in, or a citizen or resident of any state, country, territory, or other jurisdiction where MEX services are prohibited to be used; and

  • the Applicant is not named on any sanctions list or otherwise subject to any applicable sanctions.


  1. Registration Process


The registration process for an Applicant will be as follows:


  1. The Applicant who is an individual, proposes to become a client of MEX shall register on the Website and provide such details, information and documents mentioned therein for processing the application and shall comply with such procedures as notified by MEX. If the Applicant who is a body corporate proposes to become a client of MEX, it may contact MEX at [email protected].

  2. If the Applicant fails to provide required documents and information, the registration process shall be terminated. 

  3. Each application may be accompanied with a payment of a non-refundable registration fee, if any, as prescribed by MEX.

  4. MEX may request further documents for examining the veracity of details or to ascertain any facts that in its opinion may be relevant to consider the application.

  5. The Applicant authorises MEX to directly or indirectly (through third parties) take such steps deemed necessary to check the relevance and accuracy of the information provided.

  6. A decision to accept or reject the application shall be entirely at the sole discretion of MEX.

  7. The decision of MEX to accept/reject the application of the Applicant will be notified by email.


5. Consent To Recording Of Telephone Conversations


You consent to:


  1. The electronic recording of your telephone discussions with us, with or without an automatic tone warning device; and

  2. The use of recordings or transcripts from such recordings for any purpose, including, but not limited to, their use as evidence by either party in any dispute between you and us.


6. Operating Your Account


    1. Charges And Fees You Pay


You agree to pay the charges and fees and receive the benefits set out in this Agreement or as otherwise advised from time to time. You agree that the fees and charges are subject to change, and it is your responsibility to ensure that you are familiar with how the fees, charges, commission, and other payments are calculated.  You also agree to pay interest, in respect on any unpaid amount due under this Agreement, at a rate equal to three per cent per annum over the cash rate of the Central Bank of the United Arab Emirates (or of such monetary authority as may replace it). Such interest accrues and is calculated daily from the date payment was due until the date you pay in full and is compounded monthly.


  1. Interest On Account


The company shall not be obliged to pay interest to the customer on any funds which the company holds. The customer waives all rights and entitlements to interest earned on the account.


  1. Commissions


Other than in the limited circumstances set out in our PDS, we do not receive commissions.


  1. Timing Of Fees Which You Are To Pay From Your Account

    • Any charges will be deducted from your account the day following the day on which the charges were incurred, and benefits will be paid the day on which it was derived.

    • If a position is closed at a loss that loss will immediately be deducted from your account and your available trading resources will be adjusted accordingly.

    • If a position is closed at a profit that profit will immediately be credited to your account and your available trading resources will be adjusted accordingly.

  2. Incorrect Crediting Of Account

    • Limitation of liability: except in the case of our fraud, we do not accept responsibility for, nor are we liable for, any loss or damage suffered by you as a result of you trading on moneys deposited in or credited to your account in error by, or upon behalf of, us.

    • Permitted deductions: we are entitled at any time to deduct, without notice or recourse to you, any moneys deposited in, or credited to, your account in error by, or on behalf of, us.

  3. Reporting To You

    • You agree and acknowledge that: reports will be sent to you via our trading platform where you will be able to view, download and print them;

    • You authorise us to use the trading platform as the means of providing the confirmations, daily statements, monthly statements and other reports we make;

    • You will access and use such trading platform to:

    1. Confirmations: in respect of each trade entered into by us with you a confirmation will appear in the trading platform. If the confirmation does not appear you must contact us immediately and if you do not do so the details, or lack thereof, that we have recorded in relation to the trade will be deemed to have been accepted by you. The prices quoted on confirmations sent to the client will be net of any charges, which may not be separately identified. The client agrees to receive confirmations in this form. Unless objected to within 48 hours after the executed transaction appears on the trading platform, the confirmation will be deemed conclusive proof of the accuracy of such contents and their execution in accordance with this agreement except only in the case of manifest error. Where a notice is issued by an authorised officer or agent of MEX, it will prevail over the confirmation on the trading platform and be taken as conclusive evidence except only in the case of manifest error.

    2. Trading Platform:

  • Receive the confirmations, daily statements, monthly statements and other reports we provide;

  • Confirm all contracts; and

  • Monitor your obligations under this Agreement.


  1. Inactive Account

We will charge a monthly fee for any accounts which have had no "activity" for 3 consecutive months. By activity we mean no new trades placed or rollovers on existing open positions. The monthly inactive account fee is AED 220 per calendar month. This means that the first possible account maintenance fee (for inactive accounts) would be debited from your account 4 months from the last activity as defined above. This fee will never be applied to accounts that are in debit and if the credit balance is less than the fee amount i.e., balance of AED 180, we would only charge the amount which would zero out the balance on the account, and never create a debit balance from a credit balance. 


  1. Unclaimed Money

Where money remains in an inactive account for a period of six (6) consecutive years and there is a credit balance, MEX will forward moneys to the UAE Revenue’s unclaimed money account.


7. Market Disruption 


    • If we reasonably believe that we can no longer perform our obligations on the same economic basis as that underlying asset the terms of the contract when the contract was originally entered into because of a supervision or halt in the underlying market for an underlying asset, then, we will give notice to you of that fact and will, at your request, provide you with reasonable evidence of such circumstances, although our determination will be conclusive.

    • At any time following our giving of notice to you under this clause, we may halt trading and the use of client money in the virtual assets.


8. Opening A Trade


  1. No Rights In Underlying Instrument

    A trade does not entitle you to any rights in relation to the underlying instrument being traded and you will not be entitled to delivery of the underlying instrument; nor will you acquire any ownership or other such rights in relation to it.



  1. Opening Trade Using Our Trading Platform

You will be able to open or close a position and execute limit orders and stop loss orders on a trade opened with us via our trading platform. We will have no liability to you if any internet connection is lost with the result that you are unable to trade at any given price.

We do not warrant that the trading platform will always be available  or  accessible  when  the exchanges on which the underlying instruments in respect of which you have traded or wish to trade are open and we reserve the right to remove altogether or reduce the trading platform service at any time for any purpose, without thereby incurring any liability to you.

If our computer records are at variance with your own records or recollection of your trading, the version of events recorded contemporaneously by our computer will prevail and our obligations to each other (including the obligation to pay any money) will be assessed and calculated on the basis that our contemporaneous computer records are correct and are conclusive evidence of the matters they record.


  1. Nature Of Quote


A quote given to you by one of our traders is not an offer to contract. If you indicate that you wish to trade at the price quoted, you will be deemed to be making an offer to trade at the quoted price and our trader will be entitled to confirm or reject that offer. No trade will be effective unless and until such confirmation is given.


  1. Formation Of Contract


Your clicking ‘buy’ or ‘sell’ or accepting a quote to buy or sell by telephone will send a message to our traders indicating that you wish to trade on the terms and conditions indicated. This message will constitute an offer by you to buy or sell at the price and trade size chosen. If we accept the trade, we will send you a message to this effect. Your trade will not have been placed and no contract will come into existence until we send this message to you. You must wait for this message to appear after sending a ‘buy’ or ‘sell’ message and should you not receive this within two minutes you must notify us immediately. If you do not receive our confirmation and you do not notify us as required, you will be deemed to have agreed only to the transactions recorded by us. Similarly, if you dispute the contents of any confirmation sent by us to you, you must notify us immediately upon receipt by telephone; if you do not, the transactions recorded by us will be deemed to have been agreed by you.


  1. Difference In Buy And Sell Prices


You understand there may be a wider difference between ‘buy’ and ‘sell’ prices you are quoted on closing a position than when it was opened.


  1. Profit And Losses


You further understand that a payment will pass between us equal to the difference in value expressed AED between the opening price of all positions and their closing prices. If you make a profit, we must pay a sum to you equal to that profit. If you make a loss, you must pay to us a sum equal to that loss.


9. Events Of Default 


    1. What Constitutes An Event Of Default


The following constitute events of default, which upon their occurrence give us the right to take action in accordance with Clause ‎9.2:


  • An insolvency event occurs in relation to you;

  • You are an individual and you die or become of unsound mind;

  • You are in breach of any warranty or representation made under this Agreement and/or any information provided to us in connection with this Agreement is or has become untrue or misleading;

  • Any fee due to us is not paid in accordance with this Agreement;

  • Whether or not any sums are currently due to us from you, where any cheque or other payment instrument has not been met on first expectation or is subsequently dishonoured or you have consistently failed to pay any amount owed to us in time;

  • At any time or for any period deemed reasonable by us you are not contactable or you do not respond to any notice or correspondence from us;

  • We reasonably believe it is prudent for us to take any or all of the actions described in Clause ‎9.2 in light of any relevant legal or regulatory requirement applicable either to you or to us;

  • We reasonably consider that there are abnormal trading conditions;

  • We reasonably consider it necessary for the protection of our rights under this Agreement;

  • We consider that you may be in breach of any applicable law; or

  • We are so requested by VARA or any other regulatory body or authority.


  1. What Action May We Take?


If an event of default occurs, we may take all or any of the following actions:


  • Immediately require payment of any amount you owe us;

  • Terminate this Agreement;

  • Refuse orders to establish new positions;

  • Convert any ledger balances to the base currency of your account;

  • Exercise our rights of set off against (including but not limited to) the funds held on your behalf in the segregated client account;

  • Limit or withdraw the credit on your account;

  • Suspend your account and refuse to execute any trades;

  • Call on any guarantee in respect of your obligations;

  • Combine, close or consolidate any of the accounts sustained by you and offset any and/or amounts owed to, or by, us in such manner as we may in our absolute discretion determine; 

  • Retain any amount owed by us to you against any contingent liability of yours to us or as long as the contingency subsists; or

  • Exercise any power or right that we may have in accordance with this agreement or in law or take any other form of action as the holder of VARA license may be required to take.


  1. Additional Closing Rights


We may also close your account on 14 days’ notice in the circumstances set out below. If we rely on our rights under this clause, your account will be suspended during the 14-day notice period, and you will not be able to place trades other than those to close existing open positions. If you have not closed all the open positions within the 14 days’ notice, we are entitled to take any action within Clause ‎9.2. The relevant circumstances are:

  • Any litigation is commenced involving both of us in an adversarial position to each other and, in view of the subject matter of or any issues in dispute in relation to that litigation, we reasonably decide that we cannot continue to deal with you while the litigation is pending;

  • Where you have persistently acted in an abusive manner toward our staff (for example by displaying what we consider to be serious discourtesy or the use of offensive or insulting language);

  • Where we believe on reasonable grounds that you are unable to manage the risks that arise from your trades.


  1. Our Rights To Close Or Void


Without limiting our right to take action under Clauses ‎9.2 and ‎9.3, we may also close or void individual open positions and/or cancel any order. We reserve the right to close all or part of the open position in order to minimise the amount in any dispute; and/or there is a material breach of the agreement in relation to the open position.


  1. Our Rights To Suspend Account


Without limiting our right to take action under Clauses ‎9.2, ‎9.3 and ‎9.4, we may in our sole and absolute discretion suspend your account pending investigation for any reason. Whilst your account is suspended you will be able to close your open positions, but you will not be entitled to place new trades. Circumstances in which we may choose to exercise this right include but are not limited to the following:


  • When we have reasonable grounds for believing that an event of default has occurred or may occur but believe that it is reasonably necessary to investigate circumstances with a view to confirming this;

  • When we have reasonable grounds for believing that you do not have a sufficient understanding of the trades which you are placing or the risks involved;

  • When we have not received within 10 days of a written request all information, which we believe that we require in connection with this Agreement;

  • We have reason to believe that there has been a breach in your account share or that there has been a threat to your account share; or

  • We have reason to believe that it  is  necessary  for  us  to  comply  with  any  regulatory requirements.


  1. Conclude Investigations


If we have suspended your account pending investigation, we will use reasonable endeavours to conclude our investigation within five (5) business days. When we conclude our investigation, we will inform you whether trading on your account may resume or whether we will seek to take further action pursuant to this Agreement.


  1. Exercise Of Rights


We may exercise our rights under this Clause 9 at any time after the relevant event has occurred and where relevant will do so on the basis of the next available price for the affected open position.


10. Payments


    1. Your Payments Must Be The Full Amount


When you make any payment which is subject to any withholding or deduction under this Agreement, you must pay to us an amount that ensures that the amount actually received by us is equal to the full amount we would have received had no withholding or deduction been made.


  1. Payments We Owe You And You Owe To Us Are Offset

    • If on any day, the same amounts are payable under this Agreement in respect of the same account by either you or us to the other in the same currency, then, on such date, each of our obligations to make payment to such amount will be automatically satisfied and discharged.

    • On the other hand, if the aggregate amount that is payable by one of us exceeds the aggregate amount that is payable by the other in the same currency, then the one who has to pay the larger amount must pay the excess to the other, and the obligations to make payment of each party will be satisfied and discharged.


  2. Payment Of Amounts Due To Us


Unless otherwise provided in this Agreement, all amounts due to us will, at our option:


  • Be deducted from any funds held by us for you; or

  • Be paid by you in accordance with this Agreement.


You must pay all commissions, fees and charges, including administration fees, data fees, and rollover and financing charges, and other charges that may be levied by us from time to time, in accordance with this Agreement and the PDS. Goods and services tax will be added to the amount payable where relevant.


  1. Withdrawing Credit From Your Account


When your account is in credit, you may request us to send you a cheque or effect payment by alternative means of the amount in credit of such amount as you may specify. But we may at our discretion withhold from the amount of the credit balance if:

  • Any overnight position on your account shows a notional loss;

  • We reasonably consider that further amounts may be required to meet any current or future requirement on open positions due to underlying market conditions;

  • If you have any contingent liability to us (or to any of our associates), in respect of any other account open with us;

  • We reasonably determine that there is an unresolved dispute between us and you in connection with this Agreement; or

  • We consider it necessary or desirable to withhold such amount to comply with our regulatory or legal obligations, and we will notify you as soon as reasonably practicable if we decide to take such action.


  1. No Security Interests Created


Nothing in this Agreement is intended to create or does create in favour of either of us any mortgage, charge, lien, pledge or other security interest in any cash or other property transferred by one to the other.


  1. Amending Agreement


We may amend or replace this Agreement by giving written notice of the changes. We will only make changes for good reason, including:


  • Making the provisions clearer or more favourable to you;

  • Reflecting legitimate increases or reductions in the cost of providing services to you;

  • Rectifying any mistakes that may be discovered;

  • Reflecting any changes in the applicable laws, codes of practice or decisions by court, ombudsman, regulator or similar body;

  • Reflecting changes in market conditions;

  • Reflecting changes in the way we do business.


  1. You May Object


If you object to any changes, you must notify us within 14 days of the date the notice is deemed to be received under Clause ‎25. If you do not do so, you will be deemed to have accepted the changes. If you give us notice that you object, then the changes will not bind you; but we may require you to close your account as soon as reasonably practicable and/or restrict you from placing trades and/or orders to close your open positions.


  1. Application Date


The amendments made under this Clause 10 will apply, including to all open positions and unexecuted orders, from the effective date as stated by us of the changes specified in the notice.


  1. Our Right To Terminate


We may terminate this Agreement and close your account at any time for any reason; this right is in addition to any other rights to terminate this Agreement or close your account that we may have under this Agreement.


  1. Your Right To Terminate


You may also terminate this Agreement or close your account at any time by giving us written notice. Your account will be closed as soon as reasonably practicable after we have received notice, all open positions are closed, or orders cancelled, and all of your obligations are discharged.


  1. Reservation Of Rights


If you or we provide notice to close your account or terminate this Agreement under this Clause 10, we reserve the right to refuse to allow you to enter into any further trades or orders which may lead to you holding further open positions.


  1. Surivival Of Obligations


Termination of this agreement will not release either party from their obligations or liabilities accrued prior to the termination of this agreement.


11. Legal And Regulatory Requirements


    1. Our Actions To Comply With The Law


Despite any other provision of this Agreement, in providing the services in this Agreement, we will be entitled to take any action as we consider necessary in our absolute discretion to ensure compliance with all applicable laws. You hereby indemnify us against all liability including any claim, loss, expense, or cost incurred as a result of our actions under this clause.

  1. You Agree To Comply With The Law


You agree strictly to comply with all applicable laws. If we reasonably consider you have not so complied, we may terminate this Agreement immediately without notice.


12. Limitation Of Liability


    1. Reasonably Foreseeable Losses


Other than is described in Clause ‎12.2 and subject to our limits on our liability in this Clause 12.1, we are each only responsible for losses that are reasonably foreseeable consequences of breaches of this Agreement are at the time the Agreement is entered into.


  1. Indirect Losses


We are not responsible for indirect losses which occur as a side effect of the main loss and damage which are not foreseeable by you and us. We are not liable to you for losses which you incur which are foreseeable by us for the reason that you have communicated the possibility of such losses or any special circumstances to us.


  1. Loss Of Profit


We are not liable to you for any loss of profit or opportunity.


  1. Application Of Limitations


The limitations of liability in this Clause ‎12 apply whether or not we or any of our employees or agents knew of the possibility of the claim being incurred.


  1. You Agree To Indemnify Us


You agree continuously to indemnify us against all losses (including consequential losses), taxes, expenses, damages, charges, receipts, demands and expenses of any nature and on any account and liabilities present, future, contingent or otherwise and including legal fees on a full indemnity basis which may be suffered or incurred or brought against us or in connection with or caused by:


  • Your breach of this Agreement;

  • Us taking any action under Clause 9 of this Agreement;

  • Any representation or warranty given by you being incorrect, misleading or untrue, or any error in any order or instruction which is, or appears to be, from an authorised person, unless and to the extent only such is suffered or incurred as a result of our gross negligence or wilful default.


  1. Survival Of Indemnity


The indemnity in Clause ‎12.5 survives termination of this Agreement and any transaction under this Agreement.


13. Client Money


    1. Client Money Rules and Authorizations


All money paid to us by you or a person acting on your behalf, or which is received by us on behalf of you, will be held by us in one or more segregated bank accounts. These moneys do not constitute a loan to us and are held on trust by us. You agree and acknowledge that individual accounts of our clients are not separated from each other within the segregated trust accounts operated by us. Furthermore, you understand the possible risks of this as explained in the PDS, that you have received or downloaded.

The customer agrees that, in the event that there has been no movement on the customer’s trading account balance for a period of at least six (6) years (notwithstanding any payments or receipts of charges, interest or similar items) and the Company is unable to trace the customer despite having taken reasonable steps to do so, the Company may release any customer’s money balances from the segregated account.


  1. Investment Of Moneys Held


We will not invest any of your money held in any segregated trust account as disclosed in the PDS.


  1. Treatment Of Investment Capital And Interest


Unless otherwise agreed in writing with you:


  • We are solely entitled to any interest or earnings derived from your money’s being deposited in a segregated trust account or invested by us in accordance with the client money rules with such interest or earnings being payable to us from the relevant segregated trust account or investment account, as the case requires as and when we determine;

  • Upon realisation of an investment of your moneys, the initial capital invested must either be invested in another investment permitted by the client money rules or deposited by us into a segregated trust account operated in accordance with the client money rules;

  • In the event that the amount received upon realisation of an investment of your moneys is less than the initial capital invested, we must pay an amount equal to the difference into a segregated trust account for the benefit of you, except where any such difference is the result  of  amounts  paid  out  of  the  investment  to  us  and/or  any  associate  of  ours  in accordance with the terms and conditions of this Agreement;

  • We will not charge a fee for investing your moneys in accordance with the client money rules.


  1. You Authorise Us To Deal With Your Account


To the extent permitted by law, you irrevocably and unconditionally authorise us and/or any associate of ours to:


  • Withdraw, deduct or apply any amounts payable by you to us and/or any associate of ours under this Agreement from your money’s held in any segregated trust account or invested by us;

  • Pay, withdraw, deduct or apply any amounts from your money’s held in any segregated trust account or invested by us as permitted by the client money rules, it being acknowledged and agreed by you that any such amounts that belong to us may be used by us in our business from time to time, including for the payment of amounts to our counterparties;

  • Deal with any property, other than money, given to us as permitted by the client money rules;

  • Deal with such moneys in any other way as permitted by you in writing.


Retail client and professional client money are not used in connection with guaranteeing, securing, transferring, adjusting, or settling dealings in derivatives by MEX or on behalf of people other than the client.

In case, if the client discovers transaction activity, including but not limited to unknown deposits and withdrawals, on its account that was not initiated by the client, the client shall immediately notify Mex of this fact and follow the instructions sent by Mex. 

Mex retains the rights to freeze the client accounts in accordance with the rules under the VARA rulebooks and provides no right of guarantee in relation to the returning of client money or client’s virtual asset and it does not benefit from any form of deposit protection.


14. Warranties, Representations And Undertakings


    1. Your Warranties


You undertake, warrant, and represent to us, with the intention that the following undertakings, warranties and representations are repeated each time you provide instructions to us:


  • Corporate authorisation: if you are a company, you are empowered by, and have obtained, all necessary corporate or other authorities under your constitution and at law;

  • Consents: you have obtained all necessary consents and have the authority to consent to and enter into this Agreement which may be against us as a counterparty;

  • Compliance with laws: you are complying with all laws to which you are subject;

  • Able to pay debts: you are able to pay your debts as and when they fall due and are not otherwise insolvent or presumed to be insolvent under any law;

  • No liquidator etc:  no liquidator, provisional liquidator, receiver  and  manager, trustee, controller, official manager, administrator or similar officer has been appointed in relation to your affairs and no application has been made for the appointment of any of these persons;

  • Information accurate: at all times the information provided by you to us, whether in the application form or otherwise will be complete, accurate and not misleading in any material respect; 

  • Transactions: you will not conduct any transactions, including trades, which contravene laws or regulations in any transactions in relation to insider trading, market manipulation or market abuse;

  • Suitability: you fully understand the high risks associated and the potential for high profits with entering into the transaction contemplated under this Agreement, the PDS and that you have obtained relevant taxation, legal and other professional advice in relation to the transactions;

  • PDS: you have read and understood the financial services guide, the above risk disclosure any product disclosure statement issued by us in relation to the financial products and transactions relevant to the Account You have been recommended to obtain appropriate independent financial advice prior to entering this agreement and in any case, you have considered your own financial situation, objectives and needs when you enter this agreement; 

  • Non-infringement: In executing and complying with this agreement, you will not infringe any provisions of any other document or agreement you are a party to;

  • Our services: you acknowledge and understand that we will not provide legal, tax, accounting, or personal financial advice to you as part of the services we provide you in accordance with this agreement.

  • Acting as principal: you acknowledge and understand that we will be acting as principal in our relationship with you. Our directors, employees and associates may and can deal on their own account in relation to your transactions; 

  • Extent of authority: We are not required to act in accordance with your instructions if in our opinion to do so would or could constitute a breach by it or its agent or counterparty of the Corporations Act or any other Applicable Law.


  1. Trustee Of A Trust


Where you are the trustee of a trust, settlement or fund (including a superannuation fund) (the trust) you further undertake, warrant and represent to us, with the intention that these undertakings, warranties and representations are repeated each time you provide instructions to us:


  • Capacities: you acknowledge and agree that you enter into this Agreement in your personal capacity and in your capacity as trustee of the trust;

  • Sole trustee: you are the sole trustee or trustees of the trust and you have been validly appointed;

  • Trust validly created: the trust was validly created and is in existence at the date of your application and has been duly stamped (if required);

  • Solely constituted:  the trust  is  solely  constituted  by  the  trust  deed  described  in  your application and is as amended or substituted (trust deed);

  • Right of indemnity: you have the right of indemnity against the assets of the trust under the trust deed and there has not, and will not be, any breach of trust or any other action that will prevent you from enforcing your rights under that indemnity;

  • Full authority: you are empowered and have full authority under the trust deed to enter into this Agreement and to enter into the transactions contemplated by it;

  • Ceasing to be trustee: you will notify us immediately in writing if you cease for any reason to be the trustee of the trust or the trust is determined or ceases to exist;

  • No distribution of capital or income: you will not make any distribution of any income or capital or assets of the trust that results in there being insufficient assets of the trust to meet any of your liabilities under this Agreement.


  1. Notification Of Changes


You undertake that throughout the term of this Agreement you will promptly notify us of any change to the details supplied by you in your application form and any material or anticipated change in your financial circumstances which may affect the basis upon which we do business with you.


  1. Target Market Determination


All products issued by us are to be distributed to consumers likely to be within our target market as outlined in our TMD. All consumers in our target market are likely to meet the objectives, financial situation and needs dictated by our products.

You warrant and represent to us that you are within our target market. In agreeing to the terms of this Agreement, you warrant and represent to us that you have read the TMD and have understood the characteristics of our target market. You further agree that you are of the class of consumers within our target market.


  1. Electronic Services


  • Subject to Clause ‎15 all warranties, express and implied, as to the description, quality, performance, or fitness of the purposes for you of the electronic services or any component of such electronic services are disclaimed and excluded.

  • We do not warrant or forecast that the electronic services or any component of any electronic services or any services performed in respect of any such electronic services will meet the requirements of any user, or that the operation of the electronic services will be uninterrupted or error-free, or that any services performed in respect of the electronic services will be uninterrupted or error-free.


15. Electronic Service Terms


    1. Scope


This Clause ‎15 applies to your use of electronic services.


  1. Access


Once you have gone through the share procedures associated with an electronic service provided by us, you will get access to such service, unless agreed otherwise or stated on our website. Please consult our website for more details on operating times. We may change our share procedures at any time, and we will tell you of any new procedures that apply to you as soon as possible.


  1. Access Requirements


You will be responsible for providing the system to enable you to use an electronic service.


  1. Virus Detection


You will be responsible for the installation and proper use of any virus detection/scanning program we require from time to time.


  1. Use Of Information, Data And Software


In the event that you receive any data, information or software via the electronic service other than that which you are entitled to receive pursuant to this Agreement, you will immediately notify us and will not use, in any way whatsoever, such data, information or software.



    • Ensure that the system is maintained in good order and is suitable for use with such electronic service;

    • Run such tests and provide such information to us as we reasonably consider necessary to establish that the system satisfies the requirements notified by us to you from time to time;

    • Carry out virus checks on a regular basis;

    • Inform us immediately of any unauthorised access to an electronic service or any unauthorised transaction or instruction which you know of or suspect and, if within your control, cause such unauthorised use to cease; and

    • Not at any time leave the terminal from which you have accessed such electronic service or let anyone else use the terminal until you have logged off such electronic service.

  2. System Defects


In the event you become aware of a material defect, malfunction or virus in the system or in an electronic service, you will immediately notify us of such defect, malfunction or virus and cease all use of such electronic service until you have received permission from us to resume use.


  1. Intellectual Property


All rights in patents, copyrights, design rights, trademarks, and any other intellectual property rights (whether registered or unregistered) relating to the electronic services remain vested in us or our licensors. You will not copy, interfere with, tamper with, alter, amend or modify the electronic services or any part or parts thereof unless expressly permitted by us in writing, reverse compile or disassemble the electronic services, nor purport to do any of the same or permit any of the same to be done, except in so far as such acts are expressly permitted by law. Any copies of the electronic services made in accordance with law are subject to the terms and conditions of this Agreement. You must ensure that all the licensor’s trademarks and copyright and restricted rights notices are reproduced on these copies. You must maintain an up-to-date written record of the number of copies of the electronic services made by you. If we so request, you must as soon as reasonably practical, provide to us a statement of the number and whereabouts of copies of the electronic services.


  1. Liability And Indemnity


Without prejudice to any other terms and conditions of this Agreement relating to the limitation of liability and provision of indemnities, the following clauses apply to our electronic services:


  • System errors: we have no liability to you for damage which you may suffer as a result of transmission errors, technical faults, malfunctions, illegal intervention in network equipment, network overloads, malicious blocking of access by third parties, internet malfunctions, interruptions or   other   deficiencies   on   the   part   of   internet   service   providers.   You acknowledge that access to electronic services may be limited or unavailable due to such system errors, and that we reserve the right upon notice to suspend access to electronic services for this reason.

  • Delays: neither we nor any third-party software provider accepts any liability in respect of any delays, inaccuracies, errors or omissions in any data provided to you in connection with an electronic service.

  • Viruses from an electronic service: we have no liability to you (whether in contract or in tort, including negligence) in the event that any viruses, worms, software bombs or similar items are introduced into the system via the electronic service or any software provided by us to you in order to enable you to use the electronic service, so long as we have taken reasonable steps to prevent any such introduction

  • Viruses from your system: you must ensure that no computer viruses, worms, software bombs or similar items are introduced into our computer system or network and will indemnify us on demand for any loss that we suffer arising as a result of any such introduction.

  • Unauthorised use: we are not liable for any loss, liability or cost whatsoever arising from any unauthorised use of the electronic service. You continuously indemnify us against all losses, liabilities, judgments, suits, actions, proceedings, claims, damages and costs resulting from or arising out of any act or omission by any person using the electronic service by using your designated passwords, whether or not you authorised such use.

  • Markets: we are not liable for any act taken by or on the instruction of a market, clearing house or regulatory body.


  1. Suspension Or Permanent Withdrawal With Notice


We may suspend or permanently withdraw an electronic service, by giving you 10 days’ written notice.


  1. Immediate Suspension Or Permanent Withdrawal


We have the right, unilaterally and with immediate effect, to suspend or withdraw permanently your ability to use the electronic service, or any part thereof, without notice, where we consider it necessary or advisable to do so, for example due to your non-compliance with the applicable laws, breach of any provisions of this Agreement, on the occurrence of an event of default, network problems, failure of power supply, for maintenance, or to protect you when there has been a breach of share. In addition, the use of an electronic service may be terminated automatically, upon the termination (for whatever reason) of (i) any licence granted to us that relates to the electronic service; or (ii) this Agreement.


  1. Effects Of Termination


In the event of a termination of the use of the electronic service for any reason, upon request by us, you must, at our option, return to us or destroy all hardware, software and documentation that we have provided you in connection with such electronic service and any copies thereof.


16. Direct Debit Authorisation


The following provisions apply if a direct debit arrangement (“direct debit authorisation”) is entered into between you and us to debit the account of you for moneys you owe to us:


The direct debit authorisation applies in respect of all moneys due and payable to us under the confirmation and this Agreement;




  • Must ensure that sufficient funds are available in the nominated account to meet all drawings on their due dates;

  • Must advise us immediately if the account nominated is transferred or closed;

  • Must ensure a suitable alternate payment method is arranged with us if you terminate this direct debit authorisation;

  • Are liable for all fees incurred by us in relation to failed drawings.




  • Where the due date falls on a non-business day, will draw the amount on the next business day thereafter; and

  • Reserve the right to cancel the direct debit authorisation if three or more drawings are returned unpaid by your nominated financial institution and to arrange with you an alternate payment method.




  • May terminate or amend the direct debit authorisation at any time by giving 14 days prior to written notice to us;

  • Stop payment of a drawing under the direct debit authorisation by giving three (3) days’ prior written notice to us;

  • Where you consider a drawing has been debited incorrectly, you can dispute the drawing directly with us or lodge a direct debit claim through your nominated financial institution.


17. Force Majeure


    1. Force Majeure Event


We may in our reasonable opinion determine that an emergency or exceptional market condition exists (“a force majeure event”), including but not limited to:


  • The suspension, closure, liquidation or abandonment of any relevant market or underlying instruments;

  • The imposition of limits or special or unusual terms in the relevant markets or underlying instruments;

  • The excessive movement, volatility or loss of liquidity in the relevant markets or underlying instruments; or

  • Where we reasonably anticipate that any of the circumstances set out in this Agreement are about to occur.


  1. Actions We May Take


If we determine that a force majeure event exists, then we may (without prejudice to any other rights under this Agreement and at our sole discretion) take any one or more of the following steps:


  • Alter normal trading times;

  • Alter the percentage;

  • Amend or vary this Agreement and any transaction contemplated by this Agreement, including any contract, insofar as it is impractical or impossible for us to comply with our obligations to you; or

  • Take or omit to take all such other actions as we deem to be reasonably appropriate in the circumstances having regard to the positions of us, you and other customers.


  1. Notification Of Force Majeure Event


To the extent practicable, we will take reasonable steps to notify you of any action that we propose to take under Clause ‎17.2 before we take such action. If it is not practicable to give you prior notice, we will notify you at the time promptly after taking any such action.


  1. Liability


If we determine that a force majeure event exists, we will not be liable to you for any failure, hindrance or delay in performing our obligations under this Agreement or for taking or omitting to take any action in accordance with Clauses ‎17.2 or ‎17.3 of this Agreement.


  1. Close Open Positions


In some circumstances, we may be unable, after using all reasonable efforts, to acquire, substitute, maintain, unwind or dispose of any underlying instrument we consider necessary to hedge or protect our exposure to market and other risks arising from an open position. In such circumstances, we may close that open position at the trade price.


18. Privacy


    1. Personal Information


In the course of opening your account and providing services to you under this Agreement, it will be necessary for us to obtain and hold personal information that we obtain from you in accordance with data protection and anti-money laundering legislation. You agree that we can rely on, hold and process personal information for the purpose of performing those services and our obligations under this Agreement and for the purpose of improving those services through such things as product improvement and development.


  1. Provision Of Our Services


If you do not provide the information requested by us or agree to our information handling practices detailed in this Agreement, we may not be able to provide our services to you.


  1. Disclosing Information


You agree to us disclosing any information we collect from you:


  • In accordance with this Clause ‎18;

  • Where we are required by law or regulatory authorities;

  • To regulatory authorities and to such third parties as we originally consider necessary in order to prevent crime;

  • Where reasonably necessary, to any third party which provides a service to us in connection with this Agreement but restricted to the purposes of providing that service.


  1. Credit And Identity Checks


You consent to us, or our agents acting on our behalf, carrying our credit and identity checks, including money laundering, compliance regulatory reporting and fraud prevention checks, as we may reasonably consider necessary or desirable, including references on your bank or any credit reference agency. You agree that any third party that we use for this purpose may share any information concerning you with us and other organisations.


  1. New Products Or Services


You authorise us to contact you by email, telephone or post to give you information about our new products or services and you consent to us using your data for this purpose for the period that you have an account with us and after you have closed the account. However, if you do not wish to receive such information, you should advise us.


  1. Pass Personal Data


You authorise us to pass your personal information to selected related entities of us or third parties for the purpose of contacting you by email, telephone or post to give you information about products offered by that related party for the period you have an account with us and after you have closed it. If you no longer wish to receive this information, you should advise us.


  1. Other Countries


You acknowledge that it may be necessary for your information to be transferred to someone who provides a service to us in other countries, and you consent to such transfer.


  1. Access To Information


You may contact us at the address listed in the product disclosure statement if you wish to request access to any personal information that we hold about you for the time.


  1. Recording


We may record all conversations with you and monitor and maintain a record of all emails sent by or to us. All such records are our property and can be used by us.




If at any time any provision of this Agreement is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction, neither the legality,  validity  or  enforceability  of  the remaining provisions of this Agreement under the law of that jurisdiction nor the legality, validity or enforceability of such provisions under the law of any other jurisdiction will be in any way affected.


20. Assignment And Delegation


The following provisions apply in relation to assignment and delegation:


  • You may not assign any of your rights or delegate any of your obligations under this Agreement to any person without our prior written consent.

  • You may not charge any or all of their rights under this Agreement, including any rights to deposits held by us.

  • Without prejudice to Clause ‎20(a) of this Agreement, we may assign our rights or delegate any of our obligations under this Agreement to any person on giving not less than seven (7) business days’ notice to you, subject to obtaining ASIC approval where, and to the extent that such approval is required by law.

  • If you are in default of any of your obligations under this Agreement, we will be entitled (without prejudice to any other rights it may have) at any time thereafter to assign to any person with immediate effect all or any of our rights in respect of moneys owing to us under this Agreement, as well as any security or other remedies available to us in respect of such moneys. If any such assignment is made, you will, if so required by us and the assignee, acknowledge in writing that the assignee has assumed our rights and obligations under this Agreement in relation to the relevant moneys owing by you.

  • Despite anything to the contrary contained in this Agreement, we may disclose to any actual or potential delegate or assignee as referred to in Clause ‎31(c) of this Agreement, such information relating to you and your relationship with us, as we see fit.


21. Rights And Remedies


The rights and remedies contained in this Agreement are cumulative and not exclusive of any rights or remedies provided by law.


22. Rights Of Third Parties


Nothing in this Agreement is intended to confer on any person other than us or you any right to enforce any term of this Agreement.


23. Delay, Omission And Waiver


The following provisions apply to any delay, omission, and waiver:


  1. No delay or omission on our part in exercising any right, power or remedy provided by law or under this Agreement, or partial or defective exercise thereof, will:

    • Impair or prevent further or other exercise of such right, power or remedy; or

    • Operate as a waiver of such right, power or remedy. No waiver of any breach of any term of this Agreement will (unless expressly agreed in writing by the waiving party) be construed as a waiver of a future breach of the same term or as authorising a continuation of the particular breach.


24. Governing Law And Jurisdiction


    1. Law

This client agreement is governed by and shall be construed in accordance with the UAE Law, and the parties shall submit to the exclusive jurisdiction of the Courts of Dubai.


25. Notices


    1. Notices Must Be In Writing

Any notice or other communication given or made under or in connection with the matters contemplated by this Agreement will, except where oral communication is expressly provided for, be in writing and will be sent to the address below:


  • MEX Digital FZE
    Sheikh Rashid Tower, DWTC
    Dubai, United Arab Emirates 


Email: [email protected]


You: the address, phone number and electronic mail address provided by you for this purpose.


  1. Provision Of Notice


A notice in writing can be provided by letter, fax, and email or to the extent permitted by applicable laws, the website including the trading platform. We may send notices to you at your last known home or email address, place of work, fax, telephone, pager number or other contact details.


  1. When Notices Are Received


Any such notice will be deemed to have been received:


  • If delivered personally or by hand, at the time of delivery;

  • If posted, within three (3) business days of posting;

  • If oral, whether by telephone or face to face, when actually given;

  • If by leaving a message on a telephone answering machine or voice mail, one hour after the message was left;

  • If sent by facsimile, one hour after completion of its transmission; and

  • If sent by electronic mail, one hour after sending.


  1. Change Of Notice Details


You may alter the address (including electronic mail address) to which confirmations, statements and other communications are issued, by written notice to us and we may notify you of a change to any of its details as stated above, provided in either case that such alteration will only be effective on the later of the date specified in the notice and the time of deemed service under Clause ‎25 of this Agreement.


  1. Deemed Notice Where Notice Sent Contact Details Provided


You agree and acknowledge that any confirmations, statements, supplementary PDS, and any other written notices will be deemed to have been properly given or made available if sent to the address (including electronic mail address) last notified to us by you.


  1. Your Responsibility To Update Contact Details


You agree and acknowledge that you are solely responsible for ensuring that we have your current address, telephone number, facsimile number and electronic mail address.


  1. Entire Agreement


This Agreement, the Account Application Form, the PDS, the Confirmation, Risk Disclosure Statement and any additional terms and conditions as determined and notified to you from time to time contain the entire agreement between the parties with respect to its subject matter. It sets out the only terms relied on by the parties and supersedes all earlier conduct and prior agreements and understandings between the parties in connection with its subject matter.


This Agreement governs your use of the services provided by MEX Digital FZE and described above and such other services that may be offered by us from time to time. For obtaining the above-mentioned services, I/ we agree that the terms mentioned in the Agreement. 


Client Signature: 



Schedule 1




In this Agreement the following terms and expressions have, unless the context otherwise requires, the following meanings:



means an account you have with us;


means this Client Agreement, as amended, varied, or replaced from time to time;

Applicable Laws

means all:

  • Applicable provisions of laws and regulations, including all relevant rules of government agencies, exchanges, trade and clearing associations and self-regulatory organisations, that apply to the parties, this Agreement and the transactions contemplated by this Agreement; and

  • Applicable UAE law; and

  • Applicable market rules.

Application Form

means the application form and account opening documentation, including documentation required to be returned for the purposes of complying with Anti-Money Laundering and Counter-Terrorism Financing legislation, completed by you and submitted to us;



  • A person who is an officer, employee, agent, representative or associate of a party;

  • A related body corporate of a party; and

  • A person who is an officer, employee, agent, representative or associate of a related body corporate of a party

Authorised person

means you and/or any person authorised by you to give instructions to us under this Agreement;

Base Currency

means AED or the currency as agreed under this Agreement;

Business day

means any day other than a Saturday, Sunday or public holiday on which banks are open for business in UAE;

Client money

means the moneys clients have deposited with us and held by us under the VARA client money rules;


means a form of notification, which may be provided by us electronically, including via the internet, requiring access by the client, confirming entry into a contract;

Electronic service

means a service provided by us, for example an internet trading service offering clients access to information and trading facilities, via an internet service, a wap service and/or an electronic order routing system and including relevant software provided by us to enable you to use an electronic trading service;

Event of default

means an event described in Clause 15.1;

Force majeure event

has the meaning given to it in Clause 27 of this Agreement;

Insolvency event

means any of the following:

  1. An order is made that a corporate client be wound up;

  2. An application is made to a court for an order:

    1. that a corporate client be wound up;

    2. appointing a liquidator or provisional liquidator for a corporate client;

  3. A liquidator, provisional liquidator or controller is appointed to a corporate client;

  4. A resolution is passed to appoint an administrator to a corporate client; 

  5. You enter into a deed of company arrangement or propose a reorganisation, moratorium or other administration involving all or any of your creditors;

  6. A corporate client is dissolved or wound up in any other way;

  7. You are or state that you are unable to pay your debts as and when they fall due;

  8. You are or state that you are insolvent;

  9. You seek or obtain protection from any of your creditors under any legislation;

  10. You become insolvent or commit an act of bankruptcy or your estate comes within the law dealing with bankrupts;

  11. A bankruptcy petition is presented in respect of you or, if a partnership, in respect of one or more of the partners, or if a company, a receiver, trustee, administrative receiver or similar officer is appointed;

  12. If execution is levied against your business or your property and is not removed, released, lifted, discharged or discontinued within 28 days;

  13. You seek a moratorium or propose any arrangement or compromise with your creditors;

  14. Any other event having substantially the same legal effect as the events specified in Paragraphs (a) to (n) above;

  15. Any security created by any mortgagee or charge becomes enforceable against you and the mortgagee or chargee takes steps to enforce the security or charge;

  16. Any indebtedness of you or any of your related corporations becomes immediately due and payable, or capable of being declared so due and payable, prior to its stated maturity by reason of your default or the default of any of your subsidiaries, or you or any of your subsidiaries fail to discharge any indebtedness on its due date;

  17. Any of the representations or warranties given by you are, or become, untrue;

  18. We reasonably consider it necessary for our own protection or the protection of our associates.


means our product disclosure statement, including a supplementary and replacement product disclosure statement;

Trading platform

means the trading platform in the electronic service we make available to you by which you may trade with us online;


means the internet address www.multibank.ioand includes the trading platform, product schedule and market information sheet;


means MEX Digital UAE FZE