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Terms & Conditions

The website hosted by the "vTrader.io" domain ("vTrader website") is property of the company VTrader Online Services S.R.L. ("vTrader"), with its registered office situated in Romania, Bucharest, 6th district, str. Prelungirea Ghencea nr. 279, etaj 5, registered with the Trade registry under no. J40/8628/18.06.2018, having the VAT code 39501244, phone: +40741155647, electronic mail address: office@vTrader.io.{" "}
By accessing the vTrader website, including, but not limited to accessing the information from the Website, creating an account on the vTrader website, as well as by using any of the services supplied by this website ("vTrader Services"), you hereby declare and confirm that you have read, understood and that you fully accept, without reserve, the terms and conditions set forth, which stand for an agreement concluded between vTrader and you ("the Terms and Conditions" or "the Agreement"), as well as the{" "} Confidentiality Policy {" "} and the Policy related to{" "} Cookies {" "} which are integral part from the hereby Terms and conditions.
If you do not agree with the hereby Terms and Conditions, whether your disagreement regards the entire or only part of the Terms and Conditions, you are bound to immediately stop accessing the vTrader website and using the vTrader services.
vTrader may unilaterally amend at any time the Terms and Conditions, and such amendments will be deemed accepted by You by simply using the vTrader Website / vTrader Services.{" "}
The hereby Agreement will be provided and concluded in Romanian, but it can also be provided and concluded in English, depending on Your option expressed by selecting the language of utilization of the vTrader Website. So as to avoid any doubt, the hereby Agreement is governed by the Romanian law and will be construed in accordance with the Romanian legislation. In the case of inconsistencies between the Romanian version and the one in English, the one in Romanian is the one that prevails.
We hereby inform you that we will communicate with You, depending on Your option, in Romanian or in English regarding all the matters related to the utilization of the vTrader Website and/or vTrader Services, and we assure you that our staff is fluently speaking both English and Romanian.
If, after having integrally read the hereby Agreement, you still have questions related to it, please contact the vTrader support department (support@vtrader.io)

1. Eligibility

The vTrader Website and the vTrader Services are intended exclusively to citizens of the European Union and who are domiciled on the European Union territory.

Therefore, in order to enter this agreement, you must be a resident of the European Union, to be domiciled in the European Union, you must be at least 18 years of age and you must have legal competence.

By accessing the vTrader Website and/or using the vTrader Services, you declare and guarantee that you are citizens of the European Union, that you are domiciled in the European Union, you are at least 18 years of age and that you have legal competence.

2. Privacy

In accordance with the provisions of the EU Regulation 679/2016 regarding the protection of natural persons and regarding the free circulation of such data and for the abolition of the Directive 95/46/CE (General regulation regarding the data protection) we are committed to protecting your personal information and to helping you understand how the information you provide is used, by complying with all the principles related to the personal data processing, namely: the principle of responsibility, the principle of lawfulness, equity and transparency, the principle regarding the purpose of the processing, the principle regarding the reduction to a minimum of the necessary data for the processing, the principle regarding the accuracy of the data, the principle regarding the limitation of the data storage, the principle of integrality and confidentiality.

3. Risks involved when using cryptocurrencies

The risks associated to cryptocurrencies, including, but not limited to bitcoin, litecoin, ether and others, from the perspective of their purchase, sale, holding, exchange or transaction depend on the evolution of the price of such cryptocurrencies on the markets and/or platforms they are being traded on (and which vTrader cannot influence) and can capitalize by the loss of a part or even of the entire amount invested in cryptocurrencies.

vTrader draws your attention that trading cryptocurrencies requires training and experience in the field of cryptocurrencies in order to appropriately understand and manage the risks involved, so that you should analyze well whether trading or holding cryptocurrencies is something adequate for you, taking into account all the elements mentioned above.

You should also be aware of the fact that the price or the value of the cryptocurrencies can change rapidly, it can decrease and even get to zero, when taking into consideration trading or holding cryptocurrencies.

vTrader does not offer consultancy nor does it make recommendations with regard to the trading or holding of cryptocurrencies, neither in general, nor in particular, with regard to those which can make the object of the vTrader Services.

vTrader informs you that the data, the information, the statistics and the analyses regarding the cryptocurrencies or the markets and/or platforms they are traded on, which can be published on or accessed by the agency of the vTrader Website, are not customized function to your training or experience level in the field of cryptocurrencies, nor function to your financial situation or your investment objectives, and certainly they do not represent recommendations of investments in cryptocurrencies, hints or guarantees of the future performances of the cryptocurrencies which you intend to hold or trade.

In order to try to minimize the risks you must perform your own analysis or consult consultants which are specialized in cryptocurrencies so as to ground your decisions of investing in cryptocurrencies.

For the avoidance of any doubt, in using the vTrader Services, You take all the risks associated with the transactions with cryptocurrencies and with holding cryptocurrencies, including, but not limited to, the volatility of the prices of the cryptocurrencies, of the turnover and/or of the profits generated by holding/trading the cryptocurrencies, the fluctuation of the rate exchanges afferent to the cryptocurrencies and the financial risks mentioned above.

vTrader has advised you with regard to the risks associated to the transactions with cryptocurrencies, so that you bind not to hold vTrader liable for any financial or other type of losses which you may incur in relation to or as a result of holding or trading the cryptocurrencies by the agency of the vTrader Website, using your vTrader Account and/or vTrader Services.

By using the vTrader Services, you expressly declare and claim that you are informed in the field of cryptocurrencies, with training and experience in what regards holding and trading cryptocurrencies.

4. vTrader Services

vTrader will provide, on it's own but on your behalf, in exchange of commissions and fees in accordance with the provisions of Article 9 below, the following types of services and activities:

  • The Convert Service, which consists in taking over and transmitting the buy / sell orders of criptocurrencies through the vTrader site (the "Convert Service").
  • Exchange Service, which is a cryptocurrency exchange facility via vTrader ("Exchange Service"), according to the orders sent by you.
  • The Trading Service on the Network is a service of transfer of the cryptocurrencies to external wallets from the network specific to each cryptocurrency to the vtrader Account and viceversa ("Trading Service on the Network"), according to orders sent by you.

To access the above services, you need to register on the vTrader site by creating a user account (the "vTrader account").
The Online vTrader Account, which is a hosted account that allows users to track and manage the information on trading their cryptomones and through which vTrader can facilitate transactions in accordance with orders and instructions submitted by a user or an entity authorized by vTrader ("The Online Account vTrader"). In this account, vTrader will highlight all the holdings of your criptocurrencies and fiduciary coins, as well as the transactions made by the user.
The user declares that he understands and agrees that, in order to gain access to the vTrader Services, he undertakes to feed the vTrader Online Account with fiduciary or cryptocurrency, which remain the exclusive property of the User but are in the vTrader administration. For this purpose, the User empowers vTrade as an administrator in the meaning of Art. 795 Romanian Civil Code, To carry out all necessary documents for the storage of criptocurrency and fiduciary coins, as well as all the acts that are useful for them to be used as intended by the user.
In order to eliminate any ambiguity in connection with vTrader Services, vTrader will conclude with Third Parties legal acts in its own name but on account of the User, the effects of these acts being produced in the User's patrimony without, however, giving rise to direct legal relationships between You and the Third Parties, only between the latter and vTrader.
The vTrader Online Account, the Convert Service, the Exchange Service, and the Trading Service on the Network are collectively referred to in these Terms and Conditions as "vTrader Services" and are detailed below.
VTrader services can only be used for lawful purposes and you warrant and agree not to use these services in an unlawful or abusive manner.

5. vTrader Online Account

5.1. Registration

You may open only one vTrader Online Account. If you attempt to open more than one account, any additional account(s) may be suspended and/or terminated at our discretion. In order to use any of the vTrader Services, you must first register by providing: a valid email address, a password, your phone number and your country. The registration process involves compulsorily the declaration of your country of residence, as belonging to the European Union and the confirmation of the e-mail address you have provided. Upon the successful completion of the registration process, vTrader will establish your vTrader Account, which you can access by using the user and the password chosen in the registration process.
If vTrader has any suspicions with regard to the fact that you fail to comply with the eligibility criteria from chapter 1 above or any other conditions from the hereby Terms and Conditions, or if it considers that you have provided insufficient information or misleading or untrue information, vTrader reserves the right to refuse the establishment / activation / access to the Online vTrader Account and to the vTrader Services.
Also, after the registration of the vTrader Account, or from time to time, we may also require you to provide further information as a condition for continued use of the Services.
If you wish to convert fiat currency to cryptocurrencies, or cryptocurrencies to fiat currency you authorise vTrader, directly or through third parties, to make any inquiries we deem necessary to validate your identity. This may include requesting further information about you such as your date of birth, email address, physical address, personal identification number, bank account information (e.g., financial institution, account type, SWIFT account and account number) so that we can confirm your identity and provide vTrader Services. vTrader may also require you to answer certain questions or take actions in order to verify your identity, and be able to provide the vTrader Services to you, or to comply with applicable law. By submitting this or any other personal information as may be required, please make sure first that the information is accurate and authentic, and you agree to inform vTrader if any information changes. We reserve the right to maintain your account registration information after you close your account for business and regulatory compliance purposes, including those related to fiscal matters, for the prevention and fighting of money laundering, and by complying with the legal norms regarding the personal data processing.
In order to access your vTrader Account and to use the vTrader Services, you may use a computer or a mobile phone connected to the internet by any type of protocol, at the address of the vTrader Website (vTrader.io) or any other back-up address communicated by vTrader, under the protection of the user and of the password you have chosen on the occasion of the account registration.
You hold the entire responsibility with regard to the operations and transactions you are performing in your vTrader Account. For the avoidance of any doubt, vTrader will not be held liable by You or by any other person for any damage suffered by you or by another person as a result of the operations / transactions performed in your vTrader Account. With regard to those mentioned above, you declare and bind that you are the sole authorized used of the vTrader Account / vTrader Services.

5.2. Password security and keeping your contact information updated

vTrader informs you about the necessity and you have the obligation to periodically update your password for accessing your vTrader account. You have exclusive responsibility in keeping the privacy of the username, of the access password and of any other security elements allowing you to log in your vTrader account, to access your vTrader account and to use any of the vTrader Services.
Detailing, you are responsible for maintaining adequate security and control of any and all IDs, passwords, hints, personal identification numbers (PINs) or any other codes that you use to access the vTrader Services. Any loss or compromise of the foregoing information and/or your personal information may result in unauthorised access to your vTrader Online Account by third parties. You are responsible for keeping your email address up to date in your Account in order to receive any notices or alerts that we may send you. vTrader will not be liable for any loss or damage arising from your failure to protect your account information, or failure to follow or act on any notices or alerts that we may send to you. In the event you believe your vTrader Account information has been compromised, contact vTrader Support immediately.
vTrader shall not bear any liability for any damage or interruptions of the access to your vTrader Account or to the vTrader Services caused by any computer viruses, spyware, or other malware that may affect your computer or other equipment, or any phishing, spoofing, or other attacks. We advise the regular use of a reliable virus and malware screening and prevention software. If you have doubts about the authenticity of a communication purporting to be from vTrader, you should login to your account through the vTrader Website (vtrader.io), and not by clicking any links contained in emails.

5.3. Account suspension and closure

vTrader may, in its sole and absolute discretion, without liability to you or any third party, refuse to let you open an Account, suspend your vTrader Account, or terminate your vTrader Account or your use of one or more of the Services, as a result of any of the following circumstances: inactivity of the vTrader account (that is, lack of any transactions or lack of accessing the account for more than 365 days from the date of the last transaction/access), failure to respond to customer support requests, failure to positively identify you or your violation of the terms of this Agreement, or as required by a valid subpoena or court order, or if vTrader reasonably suspects you of using your vTrader Account in furtherance of illegal activity, or if you take any action that vTrader deems as circumventing vTrader's controls, including, but not limited to, opening multiple vTrader Online Accounts or abusing promotions which vTrader may offer from time to time.
If you have unsettled transactions in an account which has been suspended or closed, you will be able to recover such funds, unless prohibited by law or a court order. vTrader, in its discretion, will allow you to either (i) withdraw such funds to an already-known bank account (provided you own cryptocurrencies which can be used in the Convert Service), or (ii) send your funds to a wallet from the network afferent to the cryptocurrencies you own. Any taxes and commissions afferent to these transactions are the same taxes which are generally perceived and displayed on the vTrader website.
vTrader is entitled to notify you the suspension of the Agreement with immediate effect, whenever vTrader considers such a measure to be necessary in order to protect its interests, in which case the access to the vTrader Account and to the vTrader Services will be also suspended.
vTrader reserves the right that, function to the legal regulation of the cryptocurrencies by the Romanian authorities and/or the European Union authorities, to suspend, or, as the case may be, stop the functioning of the vTrader Account and of the vTrader Services, in which case you are not entitled to claim any prejudice, of any kind, from vTrader as a result of such a measure.
You may terminate this Agreement at any time by discontinuing use of the vTrader Services. Upon termination of this Agreement and your account, you remain liable for all transactions made while the account was open.
Cases of termination of the Terms and Conditions: unless otherwise expressly provided in the contents of the hereby Agreement, the hereby Agreement may be also terminated in the following situations: (a) by the agreement of the parties, (b) by unilateral denunciation by either party, with a 14-day prior notice given to the other party; (c) if vTrader is in impossibility of providing the services making the object of the hereby agreement for more than 14 days; (d) unilateral termination by vTrader if you fail to comply with your obligations under the hereby Agreement or if any of the statements, guarantees, information supplied within or under the hereby Agreement proves to be false, inaccurate or misleading for vTrader.
Also, you are entitled to unilaterally terminate the hereby agreement within 14 calendar days from its conclusion, without any penalties or additional costs and without motivating your decision; if you decide to unilaterally terminate the hereby agreement within 14 calendar days from its conclusion, you will be bound to pay to vTrader all the commissions and fees corresponding to the services provided in your benefit until vTrader has received the written notice of termination. Also, any transactions which you have initiated and which will be ongoing on the date of receipt of the notice of termination, will be completed, without having the possibility of requesting their reversal.
For the avoidance of any doubt, if the vTrader Account is suspended, the client is entitled to contact the support department in view of liquidating the vTrader Account. Such a request will be made on the email address of the support department (support@vTrader.io) and will include the mentioning of some external wallets from the network of each cryptocurrency held, as well as the client's bank accounts if the cryptocurrencies held can be used in the Convert Service. vTrader will transfer the cryptocurrencies you hold or the fiat currencies afferent to the cryptocurrencies which can be used in the Convert Service which you hold in the external wallets and/or bank accounts already known indicated in the liquidation request. vTrader reserves the right to suspend, delay or, as the case may be, cancel the processing of such a transaction as required by law or in response to a subpoena, court order, or other binding government order or decision of a public body, authority or institution (especially those with attributions in criminal, fiscal, financial, banking field). Also, vTrader may request additional verifications of the identity, if it considers it necessary, before processing such transactions.

5.4. Right to Suspend or Delay Transactions and Settlements

vTrader reserves the right to refuse to process, refuse to settle or to cancel any pending cryptocurrency or fiat currency transaction connected to your vTrader Account or any vTrader Service as required by law or in response to a subpoena, court order, or other binding government order or decision of a public body, authority or institution (especially those with attributions in criminal, fiscal, financial, banking field). vTrader informs you and you expressly accept the fact that vTrader cannot reverse a cryptocurrency settlement which has been communicated to and confirmed by the particular cryptocurrency network.
vTrader reserves the right to refuse to process, or to cancel or reverse, any purchases or sales of cryptocurrencies or transfers in its sole discretion, if (i) vTrader suspects the transaction involves (or has a high risk of involvement in) money laundering, terrorist financing, fraud or any other type of financial crime, (ii) as well as in any case in response to a subpoena, court order, or other government order, or decision of a public body, authority or institution (especially those with attributions in criminal, fiscal, financial, banking field) or (iii) if vTrader suspects the transaction or the operations from your vTrader Account relate(s) to a Restricted Activity as defined in Section 12.2, which listed below.
vTrader does not guarantee that the vTrader Website or the access to the vTrader Account or to the vTrader Services will be accessible/available permanently or that their functioning will be continuous and without errors. Whenever it may consider it necessary, as well as in any case when a technical error causes the stoppage of the vTrader Website or the stoppage/disturbance of the access to the vTrader Account or to the VTrader Services or errors of the foregoing , vTrader will be able to interrupt the vTrader Website or may temporarily suspend your access to your vTrader Account or to the vTrader Services in order to remedy a problem occurred or, as the case may be, to perform some revisions or other similar operations. With the exception of the force majeure cases, vTrader will make all the reasonable efforts to announce you in due time about any interruption of the functioning of the vTrader Website or of the access to the vTrader Account or to the vTrader Services and will limit the duration of the interruption to the time necessary for the performance of the revisions or other similar operations.
We reserve the right to change, suspend, or discontinue any aspect of the vTrader Services at any time, including hours of operation or availability of any feature, without a prior notice and without liability and you accept, agree and undertake not to claim any compensation from Vtrader as a result of such measures. vTrader may limit or suspend your use of one or more Services at any time, in its sole discretion. Suspension of your use of any of the Services will not affect your rights and obligations pursuant to this Agreement, with the exception of those regarding exclusively the vTrader Service whose use has been suspended.
vTrader may, in its sole discretion, delay/suspend/cancel transactions or settlements if it believes the transaction is suspicious, may involve fraud or misconduct, violates applicable laws, or violates the terms of this Agreement.

5.5. Account Statement. Transaction Limits. Accepting orders

vTrader opens and operates in your name and account a distinct cryptocurrency account in which all of your Custodian holdings and transactions with your Cryptocurrency, executed under this Agreement, will be highlighted. Cryptocurrency holdings will be reflected in that currency unit, and for orientation and non-binding purposes, vTrader will also display an estimated value in Euro.
vTrader may impose limits on the amount of cryptocurrency that you may buy, sell or exchange in a given day.
vTrader reserves the right to limit the value of one of your orders or of a transaction with regard to the cryptocurrencies that you want to buy from or sell to vTrader, or by the agency of one of the VTrader Services, as well as the right to reject or cancel an order from you or to impose certain limits in trading the cryptocurrencies.
For the avoidance of any doubt, vTrader does not assume the obligation to sell to you or the obligation to buy from you any cryptocurrency. You transfer, and vTrader can fulfill buy/sell cryptocurrency orders, and any such order of yours may be considered accepted by vTrader only if vTrader actually processes that operation by crediting your vTrader account. If the transaction does not comply with the procedures set forth in this Agreement, or if there is a risk of fraud or illegal activities, vTrader reserves the right to refuse the intermediation of the Transaction, in which case you will be notified via the e-mail declared when creating the vTrader Online Account. Also, the exchange of cryptocurrency through your vTrader Account does not guarantee that the operation will be completed and any such order from you will be considered accepted by vTrader only if vTrader actually processes that order by changing your vTrader Account's balances.

5.6. Withdrawing From a Transaction. Cancelling a trade

You do not have a statutory right to withdraw from a transaction to buy or sell cryptocurrencies (order of supply with cryptocurrencies / order to withdraw fiat currencies) once you have instructed vTrader because the price of cryptocurrencies fluctuate in accordance with the financial market for cryptocurrencies which is outside the control of vTrader. Cancelling a Trader (or Order) regarding the sale/purchase/exchange of cryptocurrencies will not guarantee you that the Trade/Order will cancel in its current state. The Trade might further fill after the action of Cancelling the order because of network delays or other factors that are out of our control, in which case the result of the Transaction/Order may be unfavourable, so that, in such a hypothesis, you assume any possible loss and understand to waive any claims or compensations from vTrader under or in relation to or as a result of that Transaction/Order.

5.7. Legal fees

It is your sole responsibility to determine whether, and to what extent, any taxes/legal, fiscal or other fees apply to the cryptocurrency transactions you conduct through the Convert Services, and to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities. Your transaction history is available through your vTrader Online Account. However, you hereby authorize vTrader to report to competent authorities your earnings / losses through your vTrader account in accordance with the applicable tax laws.

5.8. Legal Compliance

Pursuant to the economic sanctions programs administered in the countries where vTrader conducts business, vTrader is prohibited from providing services or entering into relationships with certain individuals and entities. In the event that vTrader is required to block assets associated with your vTrader Account in accordance with a sanctions program, vTrader may (i) deactivate or cancel your vTrader Account or block user activity, (ii) reject funds transfers; (iii) settle transactions associated with your vTrader Account to an account specified by authorities. vTrader is not responsible for any losses, whether direct or indirect, that you may incur as a result of our complying with applicable law, the guidance or direction of any regulatory authority or government agency, or any writ of attachment, lien, levy, subpoena, warrant or other legal order given by a public body, authority or institution with attributions in criminal, fiscal, financial, banking field).

6. Convert Service

The Convert Service facilitates two types of transactions to the User: "Cryptocurrency add funds orders," "Cryptocurrency withdrawal orders". Cryptocurrency add funds orders are transactions through which you buy cryptocurrency with fiduciary coins through vTrader, and Cryptocurrency withdrawal orders are transactions through which you sell cryptocurrency for fiduciary coins through vTrader. Operations related to this service can only be made with Euros. The Convert Service is only available for certain types of cryptocurrencies. Cryptocurrencies that can be used for Cryptocurrency add funds orders are specified in the "Add Funds" section of your vTrader Online Account, and cryptocurrencies that can be used for Cryptocurrency withdrawal orders are specified in the "Withdraw Funds" section of Your vTrader Online account.

6.1. Transactions with vTrader

When buying or selling cryptocurrency through the Convert Service, do not buy or sell directly from / to vTrader. To avoid any doubt, vTrader does not undertake the obligation to sell to you or the obligation to buy from you cryptocurrency. Through the Convert Service, you authorize vTrader to buy or sell cryptocurrency on your behalf and on your account, and any such Order on your part will only be accepted by vTrader if vTrader actually processes that operation by crediting your vTrader Account . If the transaction does not comply with the procedures set forth in this Agreement, or if there is a risk of fraud or illegal activities, vTrader reserves the right to refuse your transaction, in which case you will be notified via the e-mail declared when creating your vTrader Online Account.
Cryptocurrency add funds order consists of completing the form in the "Add Funds" section, which is conditioned by the transfer of the fiduciary currency to the vTrader bank account containing the bank transfer reference made to instruct vTrader to convert the fiduciary transferred to cryptocurrency (USD Tether (USDT) at an Orientative Conversion Rate. The withdrawal order consists of completing the form in the "Withdrawal Funds" section in order to instruct vTrader to convert and transfer to your bank account the amount resulted from the sale of your cryptocurrencies, sold at an orientative Conversion Rate
The Conversion Service is subject to a vTrader "Purchase Conversion Rate" and a vTrader "Sale Conversion Rate". At the time the Order is launched, this "Conversion Rate" is indicative, and its final value will be announced upon the execution of the Order. "Conversion Rate" is not an exchange rate, it is a value taken from Third parties. "Conversion Rate" means the liquidity-adjusted price of a cryptocurrency amount in terms of the fiduciary currency displayed on the vTrader site. The Conversion Rate is declared either as "Purchase Price", in which case it is the fiduciary currency price at which you purchase the cryptocurrencies through vTrader or "Selling Price", in which case it is the fiduciary currency price at which you sell cryptocurrencies through vTrader.
For the avoidance of any doubt, the Conversion Rate has a distinct value for sale and a distinct value for purchase, as your transaction/order regards the sale or, as the case may be, the purchase of cryptocurrencies.
For the purpose of any transaction which incorporates the Conversion Rate, you agree, as a condition of using any vTrader Services, to accept the Conversion Rate as the sole conversion metric, consequently, by using the Convert Service, you agree with the use of the Conversion Rate as sole conversion metric.

6.2. Initiating a convert transaction

In order to use the Convert Service you must create a Convert Transaction using your vTrader Online Account. Before creating a Convert Transaction, you will need to provide information such as: your name, first name, email, phone number, town, address, county/district, zip code, date of birth, a clear photo of your identity document and/or a visible photo of invoice for utility services not older than three months, information requested in the section "My profile > vTrader Account" of your vTrader Online Account, including your bank account information ("User Bank Account"). This information will act as settlement instructions and is required for us to be able to provide the Convert Service. vTrader will use the User Bank Account information when you buy and sell cryptocurrencies. It will allow us to send you fiat currency when you sell cryptocurrencies and allow us to confirm that the fiat currency you use to buy cryptocurrencies originates in your account.
Likewise, vTrader will provide information about its bank account ("vTrader Bank Account") and a code which you will need to use when you send fiat currencies to vTrader ("Reference" or "Reference Code"). This information will become available by accessing the Convert Transaction you have created.
The number of Convert Transactions which you can create have some certain daily limits in order to prevent the system spamming.

6.3. Buying cryptocurrencies

You understand that, by making a fiat currency payment to vTrader Bank Accounts as provided by vTrader, you are issuing an order to purchase cryptocurrencies at the “Conversion Rate” at the time we process the order. Your orders accepted by vTrader are processed during our business hours as stated on the vTrader Website after we receive the payment into one of the vTrader Bank Accounts. In connection with any purchase of cryptocurrencies through the Convert Service, vTrader will use good faith efforts to fulfil such purchase orders at the applicable Buy Price Conversion Rate quoted on the vTrader Website at the time that we received the payment into the vTrader Bank Accounts. However, from time to time, it may be necessary for vTrader to delay fulfilment of a purchase order until a time when we are able to execute the transaction. In such cases, we will notify you directly the amount of cryptocurrency that you will receive; it will be determined based on the applicable Buy Price Conversion Rate quoted on the vTrader Website at the time vTrader executes your order, not the applicable Buy Price Conversion Rate quoted on the vTrader Website at the time we received the payment in the vTrader Bank Accounts. Please be aware that fiat currency payments may take up to two working days to reach vTrader Bank Accounts, and as such, the Conversion Rate published on the vTrader Website at the time you send the payment may be different from the time we receive such payment. The price of cryptocurrencies fluctuates in accordance with the financial market for cryptocurrencies which is outside the control of vTrader.
The value of the cryptocurrency that you purchased will be determined by dividing the amount of the fiat currency you sent from the User Bank Account to the vTrader Bank Accounts by the Buy Price Conversion Rate, minus the fixed commission displayed upon the initiation of the transaction.
Your order will usually be settled in 1-2 business days, although vTrader reserves the right to delay/suspend/cancel any such settlement if it perceives a risk of fraud or illegal activity.
„The reference” represents and alpha-numeric code, created on the establishment of your vTrader Online Account and associated with it. The reference will be unique for each used and will allow vTrader to correlate the User's Bank Account with your vTrader Account and to credit cryptocurrencies in the intended vTrader account.
The payments in fiat currencies without reference specified in the Payment details will be returned or delayed, and vTrader will make all the efforts in order to send back to the initial account all the payments, or resolve the transaction. The payments in fiat currencies performed using a Reference and which are not coming from the User's correct Bank Account or which come from an unknown bank account (whose name doesn't match with the name declared by the User) will be returned.
vTrader asks you to be extremely careful when you transmit payments in fiat currencies to use the correct reference, as indicated in the section „Add funds” in order to avoid any delays caused by the return of the payments.

6.4. Selling Cryptocurrencies

You understand that, by making a convert withdrawal to vTrader as provided by vTrader, you are issuing an order to sell cryptocurrencies at the “Conversion Rate” for the Sell Price at the time we process the order (Order of withdrawal in fiat currencies). Your orders accepted by vTrader are processed automatically on an ongoing basis, during our business hours displayed on the vTrader Website. In connection with any withdrawal of fiat currencies through the Convert Service, vTrader will use good faith efforts to fulfil such sell orders at the applicable Sell Price Conversion Rate quoted on the vTrader Website at the time that we processed the order and will make any effort in executing your order within 1-2 business days. However, from time to time, it may be necessary for vTrader to delay settlement of a sell order until the time in which we are able to execute the transaction. In such cases, we will notify you directly the amount of fiat currency that you will receive; it will be determined based on the applicable Sell Price Conversion Rate quoted on the vTrader Website at the time vTrader processes your order, not the applicable Sell Price Conversion Rate quoted on the vTrader Website at the time you initiated the convert withdrawal order. In relation to those stated above, vTrader informs you that the Conversion Rate for the Sell Price published on the vTrader Website on the date you initiate the payment of the cryptocurrencies (you issue the order of withdrawal in fiat currencies (you initiate the sale of the cryptocurrencies) may be very different from that at the time the we are able to process it. The price of cryptocurrencies fluctuates in accordance with the financial market for cryptocurrencies which is outside the control of vTrader.
The value of fiat currency that you receive in your User Bank Account as a result of your sale order will be determined by multiplying the amount of cryptocurrency placed in a convert withdrawal order to the Sell Price Conversion Rate , minus the fixed commission displayed at the time of the initiation of the transaction. The amount of fiat currency that results will be delivered to the User Bank Account you provided when initiating the transaction. Your order will usually be settled in 1-2 business days, although vTrader reserves the right to delay any such settlement if it perceives a risk of fraud or illegal activity.

7. Exchange Service

The Exchange Service allows the User to change the cryptocurrencies it holds with other cryptocurrencies. The exchange Service is performed by the emission by the User of some Exchange Orders. The Orders that the User can request are Orders of purchase, by which the User requests the purchase of a certain type of cryptocurrency and Sale Orders, by which the User requests the sale of a certain type of cryptocurrency. Orders are intermediated by vTrader, but vTrader does not directly exchange cryptocurrency with the user. The Order is completed by other users or third parties.

7.1 Creating a and Exchange Order

In order to create an Exchange Order, the User must choose the cryptocurrency, must declare the unitary amount of cryptocurrency participant to the Exchange Order, as well as the purchase/sale price for a unit of the respective cryptocurrency. The Exchange Orders may be placed on a certain "Market". The market is represented by another cryptocurrency with which the exchange is to be performed. Therefore, the price established by the user for the cryptocurrency it will purchase/sell will be expressed in the cryptocurrency representing the Market chosen for the Exchange Order.

7.2 Completion of an Exchange Order

You understand that the Exchange Order you have placed for processing represents a request for the exchange of a cryptocurrency held by you with another cryptocurrency. Thus, vTrader does not offer any guarantee that the Exchange Orders transmitted for processing will be completed partially or integrally. Also, vTrader does not offer any guarantee with regard to the time necessary for the partial or integral completion of your Exchange Order. The partial or integral completion of an Exchange Order depends on factors which are beyond vTrader's control, including, but not limited to, the price afferent to the Exchange Order, the volume afferent to the Exchange Order, the fluctuation of the financial market of the cryptocurrencies.

7.3 Cancellation of an Exchange Order

The User may initiate a "Command for the cancellation of an Exchange Order" placed for processing. Upon the receipt of a Command for the cancellation of an Exchange Order, vTrader will try to automatically retire from processing the Exchange Order in question. You understand that a Command for the cancellation of an Exchange Order does not guarantee in any way the withdrawal of the Exchange Order from the processing, since the withdrawal of the Exchange order depends on factors which are beyond vTrader's control, including, but not limited to network delays, exchange processes already initiated.

8. The Service of Trading on the Network

The Service of Trading on the Network allows the User to supply the vTrader Account with cryptocurrencies from the network of cryptocurrencies in question (Supply Transaction) and the withdrawal of the cryptocurrencies from the vTrader Account on the network of cryptocurrencies in question (Withdrawal Transaction).

8.1 Creating a Deposit Transaction

The Transactions performed on the networks of cryptocurrencies generally require a destination address specific to a wallet of the network where the cryptocurrencies will be transmitted following the transaction. vTrader puts at the User's disposal a destination address for each cryptocurrency allowing deposit transactions on the vTrader Website. These destination addresses are available in the section „Add Funds” from the User's vTrader Online Account. With the help of these addresses, the User can initiate from outside a transaction to the wallet corresponding to that address, thus supplying his vTrader Account with the cryptocurrencies transferred.

8.2 Creating a Withdrawal Transaction

The User may withdraw cryptocurrencies from his vTrader Account into an external wallet from the network of the cryptocurrency withdrawn by initiating a Withdrawal Transaction. The Withdrawal Transactions may be initiated in the section "Withdraw Funds" from the User's vTrader Online Account. The User must respect entirely the instructions offered in the vTrader Online Account in order to initiate a Withdrawal Transaction. We remind you that the transactions performed on the networks of the cryptocurrencies are not reversible and are not under vTrader's control. By initiating a Withdrawal Transaction you instruct vTrader to perform a transaction on the network, which involves and is limited to your funds from your vTrader Account.

8.3 Availability of the Trading on the Network Service

Since the networks of cryptocurrencies can suffer changes at any time, vTrader does not guarantee in any way the availability of the Trading Service on the Network. However, vTrader directs its efforts and acts permanently with the purpose of improving the quality of the services, including, but not limited to, the improvement of the Trading on the Network Service in accordance with the current condition and the modifications of the networks of cryptocurrencies.

9. Commissions and taxes

In exchange of the services provided, which are part of the object of the hereby Agreement, by vTrader, you owe to vTrader and undertake to pay to vTrader the following taxes and commissions:
A fixed tax for the Convert Service, applied both for the sums used in the Deposit Convert Orders and for the sums used in the Withdrawal Convert Orders. These taxes are detailed on the main page of the Website vTrader, as well as in the sections „Add funds” and „Withdraw funds” from your vTrader Online Account, as the case may be.
Percentage tax for the Exchange Service, applied to the Sum exchanged at the complete or partial execution of an Exchange Order, both for Purchase Orders and for Sale orders. This tax is detailed on the main page of the Website vTrader as well as in the section „Trading” from your vTrader Online Account.
Fixed taxes for the Service of Transacting on the Network, applied both for the sums afferent to the Supply Transactions and for the sums afferent to the Withdrawal Transactions. These taxes are detailed in the sections „Add Funds” or „Withdraw Funds” from your vTrader Online Account.
as well as all the taxes and costs due to some third parties in relation to the transactions performed on your vTrader Account or in relation to Your vTrader Account / vTrader Services which you have used, which are included in the above taxes.
vTrader can unilaterally amend the amount of the taxes and commissions perceived under the hereby Agreement, in accordance with the provisions of section14.8. below.

10. Use of the vTrader Website

10.1. Accuracy

For the avoidance of any doubt, with the exception of the taxes and commissions detailed on the main page of the vTrader Website and/or in the sections from the vTrader Website where vTrader Services are provided, as well as the Conversion Rate displayed on the main page of the vTrader Website and/or in the sections from the vTrader Website where vTrader Services are provided, the information supplied on the vTrader Website and by the agency of the vTrader Services is for your guidance only. However, vTrader directs its efforts and acts permanently with the purpose of improving the quality of the services and of the information supplied by the agency of the vTrader Website / vTrader Services. For this purpose, vTrader makes efforts to provide accurate and reliable information and content on the vTrader Website and through the vTrader Service, but such information may not always be correct, complete, or up to date. vTrader will update the information on the vTrader Website as necessary to provide you with the most up to date information, but you should always independently verify such information.
The vTrader Website may also contain links to third party websites, applications, events or other materials /information (“Third Party Content”). Such information is provided for your convenience and links or references to Third Party Content do not constitute an endorsement by vTrader of any products or services, and vTrader does not guarantee in any way that the Third Party Content provide you clear, accurate, complete and updated information. vTrader shall have no liability for any losses incurred as a result of actions taken in reliance on the information contained on the vTrader Website or in any Third Party Content.

10.2. Intellectual Property

vTrader will grant you a limited, non-exclusive, non-sublicensable, and non-transferable licence, subject to the terms and conditions of this Agreement, to access and use the vTrader Services solely for approved purposes as determined by vTrader. Any other use of the Services is expressly prohibited. vTrader and its licensors reserve all rights in the Services and you agree that this Agreement does not grant you any rights in or licences to the Services except for the limited licence set forth above. Except as expressly authorised by vTrader, you agree not to modify, reverse engineer, copy, frame, scrape, rent, lease, loan, sell, distribute, or create derivative works based on the vTrader Services, in whole or in part. If you violate any portion of this Agreement, your permission to access and use the Services may be terminated pursuant to this Agreement.
"vtrader.io", "vTrader", and all logos related to the Services are either trademarks, or registered marks of vTrader or its licensors. You may not copy, imitate, or use them without vTrader’s prior written consent. All rights, title, and interest in and to the vTrader Website, any content thereon, the Services, and all technology and any content created or derived from any of the foregoing is the exclusive property of vTrader and its licensors

11. Our Relationship with You

11.1. Relationship of the Parties

vTrader is an independent contractor for all purposes. Nothing in this Agreement shall be deemed or is intended to be deemed, nor shall it cause, you and vTrader to be treated as partners, joint ventures, or otherwise as joint associates for profit, or either you or vTrader to be treated as the agent of the other.

11.2. Service Providers

From time to time, vTrader may engage third parties to assist vTrader in providing certain aspects of the vTrader Services (each, a "Service Provider"). Service Providers may include, but are not limited to, vTrader's banking partners and technology or engineering service providers.

11.3. Notices and communications in relation to the vTrader Account and the vTrader Services

For executing the hereby agreement and for the fulfilment of its purpose, you agree that vTrader may provide you with any notices or other communications about your vTrader Account and the vTrader Services electronically: (a) via email (in each case to the address that you provide), SMS message, or telephone call (in each case to the phone number that you provide), or (b) by posting to the vTrader Website. For notices made by email, the date of receipt will be deemed the date on which such notice is transmitted. If you do not wish to receive notices or other communications electronically, we will be unable to support your vTrader Account and your vTrader Account will be cancelled. For the avoidance of any doubt, the notices and communications referred to in the hereby paragraph are not advertising or marketing notices. No mobile information will be shared with third parties/affiliates for marketing/promotional purposes. All the above categories exclude text messaging originator opt-in data and consent; this information will not be shared with any third parties. vTrader: Verification code for Onboarding new users to the vTrader platform. One message per request. Reply 'HELP' for support or 'STOP' to cancel. Message and Data rates may apply may apply. Carriers are not liable for delayed or undelivered messages.

11.4. Notices to vTrader

You may transmit any notices or information or complaint to vTrader electronically, in the attention of the vTrader Support department, on the electronic e-mail address: support@vTrader.io
vTrader will solve any request or notice or complaint within 30 calendar days from its receipt.

12. Restricted Activities

12.1. Assets in custody

You hereby represent and warrant that all funds used by you in connection with the vTrader Services are your property or you are authorized to conduct transactions using these funds. In particular, You acknowledge that vTrader is the administrator of the goods (criptocurrency) within the meaning of Title V, Book III of the Romanian Civil Code and you represent and warrant that the use of the vTrader Services by you is in compliance with all applicable legal requirements governing the regime of goods, whatever their nature, that you use under this contract.

12.2. Restricted Activities

In connection with your use of the vTrader Services, and your interactions with other users, and third parties you will not:

  • Violate or assist any party in violating any law, statute, ordinance, regulation or any rule of any self-regulatory or similar organisation of which you are or are required to be a member (for example, those laws, rules, or regulations governing financial services, controlled substances, unlawful gambling or consumer protections);
  • Partake in a transaction which involves the proceeds of any unlawful activity;
  • Defraud or attempt to defraud vTrader or other vTrader users;
  • Infringe upon vTrader's or any third party's copyright, patent, trademark, or intellectual property rights;
  • Provide false, inaccurate or misleading information;
  • Take any action that imposes an unreasonable or disproportionately large load on our infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data, or information;
  • Interfere with another individual's or entity's access to or use of any of the vTrader Services;
  • Defame, abuse, harass, stalk, threaten or otherwise violate or infringe the legal rights (such as, but not limited to, rights of privacy, publicity and intellectual property) of others;
  • Publish, distribute or disseminate any unlawful material or information;
  • Transmit or upload any material to the vTrader Website that contains viruses, Trojan horses, worms, or any other harmful or deleterious programmes;
  • Harvest or otherwise collect information from the vTrader Website about others, including without limitation email addresses, without proper consent;
  • Act as a payment intermediary or aggregator or otherwise resell any of the vTrader Services, unless expressly authorised by vTrader in writing;
  • Transfer any rights granted to you under this Agreement;
  • Use the vTrader Account information of another party to access or use the vTrader Website;
  • Otherwise attempt to gain unauthorised access to the vTrader Website, other vTrader Online Accounts, computer systems or networks connected to the vTrader Website, through password mining or any other means; or
  • Engage in transactions involving items that infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the law.

13. Customer Queries and Complaints

If you have any complaints or queries please contact vTrader Support at support@vtrader.io and we will try to resolve the matter quickly. When you contact us please provide us with your name, address and any other information we may need to identify you and your vTrader Account.

14. General Provisions

14.1. Limitations of Liability

  • In no event shall vTrader, its affiliates and service providers, or any of their respective officers, directors, agents, joint venturers, employees or representatives, be liable for lost profits or any special, incidental or consequential damages arising out of or in connection with the vTrader Website, the vTrader Services, or this agreement(however arising, including negligence), with the exception of any material damage caused by a deed committed with intention or from gross fault.
  • For consumers only: where applicable consumer protection law limits the effectiveness of Section 11.1(a) with respect to consumers, Section 11.1(a) only applies to the maximum extent as permitted by law

14.2. Lack of warranty

  • The vTrader services are provided on a "as is" and "as available" basis without any representation or warranty, whether express, implied or statutory. vTrader specifically disclaims any implied warranties of title, merchantability, fitness for a particular purpose and non-infringement. vTrader does not guarantee continuous, uninterrupted or secure access to any part of vTrader Services, and operation of the vTrader Website may be interfered with by numerous factors outside of our control. vTrader will make reasonable efforts to ensure that requests for settlements to bank accounts or cryptocurrency addresses are processed in a timely manner but vTrader makes no representations or warranties regarding the amount of time needed to complete processing because the vTrader services are dependent upon many factors outside of our control, such as delays in the banking system or cryptocurrency networks.
  • For consumers only: where applicable consumer protection law limits the effectiveness of Section 11.1. (b) with respect to consumers, Section 11.1. (b) only applies to the maximum extent as permitted by law.

14.3. Assignment

The hereby Agreement, and any rights and licences granted hereunder, may not be transferred or assigned by you, but may be assigned by vTrader without restriction, including without limitation to any of its affiliates or subsidiaries, or to any successor in interest of any business associated with the vTrader Services. Any attempted transfer or assignment in violation hereof shall be null and void. Subject to the foregoing, this Agreement will bind and inure to the benefit of the parties, their successors and permitted assigns.

14.4. Change of Control

In the event that vTrader is acquired by or merged with a third party entity, we reserve the right, in any of these circumstances, to transfer or assign the information we have collected from you as part of such merger, acquisition, sale, or other change of control.

14.5. Survival

All the provisions of this Agreement which by their nature extend beyond the expiration or termination of this Agreement, including, without limitation, Sections 5.3 (vTrader Account Suspension & Closure), 7 (Use of the vTrader Website), 10 (Customer Queries and Complaints) and 11 (General Provisions) shall survive the termination or expiration of this Agreement.

14.6. Governing Law and Jurisdiction

  • This Agreement will be governed by the Romanian law and will be interpreted in accordance with the Romanian legislation.
  • Subject to Article 16 from the Council Regulation (CE) nr. 44/2001 regarding the judicial competence, the acknowledgement and the execution of the judgments in civil and commercial matter, any dispute deriving from or in relation to the hereby Agreement will be submitted for settlement to the competent judicial courts from Romania, at the vTrader office.

14.7. Force Majeure

Both vTrader, and You are exonerated of liability for any total or partial failure in fulfilling or for the delayed fulfilment of the obligations deriving from the hereby Agreement as a result of a force majeure situation, as defined below. The force majeure is any external, unpredictable, invincible and inevitable event, which exonerates of liability the party invoking it, provided it notifies the other party in writing within 10 days from the occurrence of the force majeure event and based on the force majeure certificate issued by the Chamber of Trade and Industry of the Bucharest Municipality. If the force majeure event fails to cease within 30 days from its occurrence, either party is entitled to notify to the other party the termination by right of the hereby Agreement, without either of them claiming any damage interests.

14.8. Amendments to this Agreement

vTrader may amend or modify this Agreement at any time by posting on the vTrader Website and emailing to you the revised Agreement. The revised Agreement shall be effective 14 days after the posting date except where the changes and modifications are required by law or on the instruction of a competent governmental agency. By continuing to access or use the vTrader Services once the revised Agreement is effective, you agree to be bound by the Agreement. Should you not agree to be bound by the Agreement, you must discontinue use of your vTrader Account in the manner described in Section 5.3 and otherwise cease accessing or using the vTrader Services. You agree that we shall not be liable to you or any third party for any modification or termination of the vTrader Services, or suspension or termination of your access to the vTrader Services, except to the extent otherwise expressly set forth herein.

14.9.Entire Agreement

The failure of vTrader to exercise or enforce any right or provision of the Agreement shall not constitute a waiver of such right or provision. If any provision of this Agreement shall be adjudged by any court of competent jurisdiction to be unenforceable or invalid, that provision shall be limited or eliminated to the minimum extent necessary so that this Agreement shall otherwise remain in full force and effect and remain enforceable between the parties. The parties agree that, after removing the void provision, it will be replaced with another provision, in the spirit of the hereby agreement, if it regards an essential element of the agreement.
The heading and explanatory text are for reference purposes only and in no way define, limit, construe, or describe the scope or extent of such section. This Agreement, including vTrader policies governing the Services referenced herein, the Privacy Policy, the Cookie Policy constitute the entire agreement between you and vTrader with respect to the use of the vTrader Services.
The hereby Agreement is not intended and shall not be construed to create any rights or remedies in any parties other than you and vTrader, and no other person shall assert any rights as a third party beneficiary hereunder.
The hereby Agreement, together with the Privacy Policy, the Policy regarding the cookies represents the entire agreement between the parties and supersedes any other previous, oral or written agreement.