T&Cs and Privacy Policy

1. Introduction

1.1 The terms and conditions set out in this agreement (as amended in accordance with clause 26 from time to time) (“Terms”) shall apply as between Hermex International Limited (“HERMEX”) and the Client named above or the person named in any document
evidencing an order for Services (as defined in clause 2.1 below) or Payment Transactions (as defined in clause 6.1 below)to any such order, howsoever placed, where that order is accepted (whether expressly or impliedly, verbally or in writing) by
HERMEX (“Contract”) and shall prevail in the event of any inconsistency with the terms of any other agreement between the parties. 1.2 These terms contain three parts: 1.2.1 Part 1: Forwards & Spot Contracts (this Part applies to the provision
of our unregulated forwards and spot contract business); 1.2.2 Part 2: Payment Services (this Part applies to the provision by us of money remittance services); 1.2.3 Part 3: General Provisions (this Part applies to all services offered by us to you).
1.3 Should you need to contact us about any aspect of these Terms or make any notification in accordance with these terms please make such notification by writing in English to: Hermex International Ltd www.hermexfx.com Hermex International Ltd 13-14
Basinghall Street, EC2V 5BQ +44 (0)20 3026 4030 forex@hermexfx.com 1.4 These Terms shall come into force on the date set out above. 1.5 Any reference to HERMEX or the Client in these Terms shall be deemed to include that party’s officers, employees
and/or agents. 1.6 References to clauses are to the clauses and sub clauses of these Terms and the headings in these Terms are for convenience only and shall not affect the interpretation. 1.7 Any obligation in these Terms on a person not to do something
includes an obligation not to agree, allow, permit or acquiesce in that thing being done.

PART 1: FORWARDS & SPOT CONTRACTS
2. The Services

2.1 HERMEX’s services shall be limited to providing facilities for the sale, purchase and physical delivery of foreign currencies for use in connection with a trade or business or for other commercial (but not, for the avoidance of doubt, investment)
purposes only (the “Services”). Such Services include, without limitation to the foregoing, forward contracts, forward time option contracts, flexible forward contracts and limit orders. A description of the characteristics of these different forms
of contracts is contained on our website (www.hermexfx.com). 2.2 HERMEX shall record all Contracts in writing and send a copy to the Client at the time the Contract is concluded. 2.3 HERMEX shall unless otherwise agreed, contract as principal with
the Client for the delivery of the currency in question and deal with the Client on an execution only basis. 2.4 HERMEX may from time to time to time provide the Client with information concerning the foreign exchange markets, but will not at any
time offer advice to the Client on taxation, investment products or markets or the merits or otherwise of any currency transaction. The Client accepts that any such information does not constitute advice and does not form part of the Services and
agrees that it shall rely purely on its own judgement when entering into any Contract. 2.5 In providing the information referred to in clause 2.4 above, HERMEX makes no warranty or representation as to its accuracy, and hereby excludes to the fullest
extent possible any and all losses suffered by the Client in relying on such information. 2.6 The Client hereby warrants and represents that all orders are placed in pursuance of the Client’s usual trade or business; that the Client is not acting
for any third party; and that the transactions are for commercial purposes (in the case of businesses) and private purposes (in the case of individual clients) and, as such, do not amount to futures contracts under article 84 of the Financial Services
& Markets Act 2000 (Regulated Activities) Order 2001. 2.7 Each order shall stand as a separate Contract and the Client will take physical delivery of the purchased currency upon payment of the full amount of the sold currency as specified by HERMEX
on the occasion of each Contract.

3. Instructions

3.1 HERMEX may, at its absolute discretion, accept or refuse (without attributing any reason or being liable for any claims, loss of profits, loss of goodwill or damage (whether direct, consequential or anticipated) occasioned as a result) any order for
Services or any instruction relating to Services from any officer, employee or agent of the Client. Where only certain named personnel are authorised by the Client to place orders and give instructions to HERMEX, an “authorised personnel” list shall
be annexed to these Terms, and where such a list is annexed, HERMEX shall only deal with those authorised persons. 3.2 Orders may be placed and instructions may be given orally, in writing (by post or by electronic mail or facsimile (“electronic transmission”))
or through the HERMEX website at www.hermexfx.com, save that in the case of an oral order or instruction, HERMEX may at any time and for any reason (including, without limitation, to clarify an ambiguous order or instruction, to close the Client’s
account and/or to remit the Client’s funds to a third party), require the Client to confirm such order or instruction in writing in such form as HERMEX may specify from time to time. Alternatively, HERMEX may (but will not be obliged to) confirm the
order or instruction to the Client in writing (by post or by electronic transmission), which shall be final and conclusive evidence (in the absence of manifest error) of the order or the instruction. 3.3 Once an order or instruction has been accepted
by HERMEX it can be rescinded, withdrawn or amended by the Client only with the express written consent of HERMEX. 3.4 HERMEX will issue a contract note in respect of each Contract entered into with the Client. The contract note may be sent to the
Client by post or by electronic transmission and will not prejudice in any way the rights of either party. 3.5 Unless the Client notifies HERMEX of any error or omission within 24 hours of receipt of any contract note issued by HERMEX (time being
of the essence), the Client shall be deemed to have agreed and accepted the contents of that contract note and such contract note will be incorporated into the Contract and will be legally binding on the Client. 3.6 On accepting the first order from
a new Client, HERMEX will set up an account for that Client and may (at its absolute discretion and without any obligation to do so) set up separate accounts for separate Contracts for both new and existing clients. 3.7 For each account that HERMEX
operates in the Client’s name, HERMEX may, but shall not be obliged to, send the Client a monthly statement detailing the transactions that took place during the preceding calendar month.

4. Financial provisions

4.1 The Client shall facilitate payment of cleared funds into HERMEX’s Safeguarded Segregated Client Account , held at a bank chosen by HERMEX (the “transaction account”) to the value of the currency to be sold by the Client (the “sale currency”) in order
to secure payment. HERMEX may, in its absolute discretion and without assigning a reason there for, request a deposit from the Client in respect of any order for currency, in which case the deposit shall be payable immediately into the transaction
account. 4.2 The Client shall pay any outstanding amount of the sale currency into the transaction account in cleared funds prior to the specified value date set out in the contract note (being the date on which the currency becomes available and
the Client becomes obliged to pay). 4.3 Any funds held in a transaction account will be held as collateral for the purpose of securing or otherwise covering present or future actual or contingent or prospective obligations owed by the Client to HERMEX
or counterparty to a Contract. 4.4 In respect of any type of forward transaction HERMEX reserves the right to transfer any deposit paid into the transaction account to a non-segregated account held with any counterparty of HERMEX for the purpose providing
margin to cover forward transactions entered into by the Client. Monies held in any such non-segregated account shall not be subject to the same protections as monies held in the Safeguarded Segregated Client Account 4.5 HERMEX shall not be required
to settle any Contract or to pay to the Client, or to the Client’s order, any amount in respect of such Contract without HERMEX first having received from the bank where the transaction account is held or from any broker or dealer with or through
whom HERMEX executes currency transactions (the ‘broker’) notice to the effect that the amount of sale currency due and payable by the Client to HERMEX in respect of the Contract, has in fact been received. 4.6 Without prejudice to and notwithstanding
the rights of HERMEX set out in clause 6 below, where HERMEX has not received payment of any sale currency that is due in full from the Client, HERMEX may (but shall not be obliged to) delay any Contract between HERMEX and the Client until HERMEX
has received the sale currency, at which time HERMEX may sell such sale currency at the rate of exchange prevailing on the actual date of sale. 4.7 All payments due from the Client to HERMEX under these Terms shall be made in full without any set-off,
counterclaim, deduction or withholding whatsoever. HERMEX may deduct from any payment to be made to the Client such sum. As HERMEX is required by law to deduct or is otherwise obligated to pay in respect of taxation liabilities, broker transfer charges,
the Client’s failure to pay the sale currency due or any other costs incurred in the performance by HERMEX or non-performance (including, but not limited to, non-payment) by the Client of that Contract or any other contract between HERMEX and the
Client. 4.8 Banks have specified times of cut off for the receipt and dispatch of electronic payments. HERMEX accepts no responsibility or liability for any delay in onward payment attributable to the late arrival of funds or instruction of payment
relative to the cut off times of the designated bank. 4.9 Hermex will endeavour to execute transactions based on the exchange rate agreed when placing an order. However, Hermex reserves the right to execute transactions using an exchange rate that
is different to the exchange rate that had been agreed when placing an order. 4.10 In the event of any significant exchange rate fluctuations occurring between the date of Contract and the value date HERMEX may require the Client to provide additional
funds to maintain the value and level of the deposit at the stipulated percentage rate on the original contract note. Such funds shall be paid by the Client immediately and in full. Such funds relating to forward purchase contracts will be used as
collateral (deposit) and deposited into a separate segregated deposit account held for forward contracts. 4.11 The Client undertakes warrants and represents that all funds to be provided by the Client will be beneficially owned by the Client and will
not be subject to any charge, lien or other encumbrance, and the Client will not create or permit the creation of any charge, lien or other encumbrance over any funds so provided.

5. Limitation of liability and indemnity

5.1 Nothing in this clause 5 seeks to limit or exclude HERMEX’s liability to the Client for: any liability which cannot be excluded or limited under applicable law including without limitation fraud or fraudulent misrepresentation. 5.2 Subject to sub
clause 5.1 above and sub clause 5.3 below, HERMEX’s total aggregate liability to the Client in contract, tort or otherwise (including for negligence, breach of statutory duty and wilful default) for any loss arising out of or in connection with any
Contract shall be limited to damages of an amount equal to the direct loss incurred out of or in connection with such Contract, provided that HERMEX’s liability shall in no circumstances exceed the value of currency as at the Contract date to be purchased
by HERMEX from the Client. 5.3 HERMEX shall not under any circumstances be liable to the Client for loss of profits (whether direct or indirect) or loss of goodwill, anticipated savings, business opportunity or any type of special, indirect or consequential
loss (including loss or damage suffered by the Client as a result of an action brought by a third party) arising in connection with any Contract, even if such loss was reasonably foreseeable. 5.4 The Client will, on demand by HERMEX, indemnify HERMEX
and keep it indemnified against all losses, claims, proceedings, expenses, damages and costs (including reasonable legal costs) of any nature incurred or suffered by HERMEX including any costs suffered by HERMEX in covering, reducing or eliminating
its risk, howsoever arising out of or in connection with any breach by the Client of these Terms.

6. Default

6.1 In addition to the rights of HERMEX in clause 4.5 above, HERMEX shall have the right to close any Contract by entering into an equal but opposite contract or, at its absolute discretion, by any other actions deemed necessary without any further liability
for any loss or otherwise in the event of any of the following: 6.1.1 Any default of payment by the Client; 6.1.2 Any other material breach by the Client of any Contract; 6.1.3 the Client entering into any form of bankruptcy or insolvency procedure
(except for the purposes of solvent amalgamation or reconstruction and in such manner that the company resulting there from effectively agrees to be bound by or assume the obligations imposed on that other party under these Terms) or is unable to
pay its debts as they fall due (as defined in section 123 of the Insolvency Act 1986); 6.1.4 it becomes unlawful for HERMEX to give effect to any or all of its obligations to the Client under these Terms or where HERMEX or the Client is ordered to
close out a Contract by any governmental or regulatory body or by order of a court of competent jurisdiction; or 6.2 Where a Contract is closed out by HERMEX in accordance with paragraph 7.1, a contract note will be issued and dispatched to the Client
detailing the specifics of the closure and any loss suffered by HERMEX as a result of such closure. In the event that HERMEX suffers any loss as a result of such closure, the Client will indemnify and keep indemnified HERMEX in respect of that loss
and HERMEX shall be entitled to deduct that loss in accordance with clause 4.6 above.

PART 2: PAYMENT SERVICES
7. Introduction & Charges

7.1 This Part is applicable when you use our money remittance service to transfer money to a third party through us (“Payment Transaction”). Hermex International Limited is authorised by the Financial Conduct Authority under the PSRs (534547) for the
provision of money remittance. 7.2 We draw your attention to clause 1.3 in these Terms regarding the method and language of communications, which shall apply to the provision of payment services. 7.3 We do not charge any commission for the purchase
or sale of foreign currency under properly executed Contracts in accordance with these Terms. You acknowledge that the exchange rate which we offer you under a Contract will not be the same as the one we obtain for ourself with market counterparties.
We derive a profit from the difference between these two exchange rates. 7.4 The following charges will be incurred by you (payable in advance) for the following methods of confirmation and/or transfer of funds: 7.4.1 Investigation Charge – £25 per
investigation. This is payable when a bank or payment services firm that you request us to transmit money to subsequently ask us to provide them with additional information. 7.4.2 Additional International Payment – £10 per recipient which is payable
when a Payment Transaction involves payments being made to more than one recipient. 7.4.3 Returned Payment Fee – £50 per payment when such payments are returned to us by an intended recipient’s bank or payment services firm in order to cover our reasonable
administrative costs associated with dealing with such payments. 7.4.4 Exchange rate charges imposed on us by our bank when if you incorrectly send a payment to an account of ours which is denominated in a different currency from your intended currency
and which consequently leads to an exchange rate charge when the currency is converted by our bank as set out in clause 13.1.

8. The Corporate Opt Out

8.1 Clause 8.2 applies to you only if you are not: 8.1.1 a consumer (a person acting for purposes other than a trade, business or profession); 8.1.2 a micro-enterprise (as defined in Article 1, and 2(1) and (3) of the Annex to Recommendation 2003/361/EC
(in summary, a micro-enterprise is a business which has fewer than 10 employees or a turnover not exceeding EUR 2 million); or 8.1.3 a charity with annual income of less than £1 million. 8.2 You agree that the following provisions of the Payment Services
Regulations 2017 (SI 2017/752) (the “PSRs”) and any other provisions of any law in any other jurisdiction implementing the equivalent articles of the Recast Payment Services Directive (2015/2366/EC) (“PSD 2”) do not apply to this Agreement: 8.2.1
Part 6 (Regulations 40 – 62 inclusive) PSRs (Title III PSD 2) (requirements as to the provision of information); and 8.2.2 the following regulations of Part 7 (Rights and Obligations in relation to the provision of payment services) PSRs (Articles
62(1), 64(3), 72, 74, 76, 77, 80 and 89 PSD 2: (i) 66(1): charges (refusals, revocations, incorrect unique identifiers). We will instead charge you for the fulfilment of our obligations under clauses 10.5, 16, 18.3 of these Terms; (ii) 67(3) and (4)
& 83: withdrawal of payer consent and revocation. Once given, you may not withdraw your consent to a Payment Transaction or revoke a Payment Transaction and clause 16 of these Terms do not apply to your agreement with us; (iii) 75: evidence of
authentication and execution of transactions. The onus of proving that the payment transaction was either unauthorised or incorrectly executed in clauses 11 and 12 of this Agreement lies instead with you rather than with us; (iv) 77: Payer’s liability
for unauthorised transactions. You, instead of us, are liable for all losses in respect of unauthorised Payment Transactions listed in clause 12 of these Terms; (v) 91: non-execution or defective execution of transactions initiated by payer. We shall
not be liable to you for the correct execution of a Payment Transaction and clause 18 of these Terms shall not apply; and (vi) 94: liability of payment services provider for charges/interest. We are not liable for charges and interest incurred as
a result of the non-execution or defective execution of a Payment Transaction.

9. Receipt of Payment Orders

9.1 An instruction to make a Payment Transaction (the “Payment Order”) will be received at the time that we receive and accept the Payment Order. Any acceptance of a Payment Order by us will be subject to and conditional on completion to our reasonable
satisfaction of relevant due diligence procedures. 9.2 Payment orders received after 2:30pm on a Business Day (ie any day other than a Saturday, Sunday or a national public holiday where banks are open for business in the UK) or on a non-Business
Day will be deemed to have been received by us on the following Business Day. 9.3 You may instruct us to execute a Payment Order on a specific future date. We will only execute the Payment Order if you have provided us with adequate funds. 9.4 You
may request details about the maximum execution time for the transaction, which may vary depending on the currency in question, and the charges payable (including, where applicable, a breakdown of those charges).

10. Consent

10.1 A Payment Transaction will be considered as authorised if you have given your consent to the execution of the Payment Transaction. 10.2 For individual transactions, “consent” for these purposes means that consent given by email which will be followed
by a telephone call from us to you. Consent will only be deemed to have been given by you following the successful completion by us of a mandatory call back to you to authenticate the proposed transaction. 10.3 For a series of transactions (e.g. for
standing orders), your consent to the transaction shall be given in writing in whichever form that we request, and verified by your signature followed by the successful completion of a mandatory call back from us to you. 10.4 Where no such consent
has been given (or where consent has been withdrawn in accordance with clause 16.2 of Part 2 of these Terms), the Payment Transaction will be considered as unauthorised. 10.5 If a payment transaction is refused, we shall inform you immediately within
the limits of applicable laws and where we are authorised to do so and, if appropriate, we shall explain why we refused to make the Payment Transaction and the procedure for correcting any factual errors that led to the refusal.

11. Correcting Unauthorised or Incorrectly Executed Payment Transactions

11.1 If you realise that an unauthorised or incorrectly executed Payment Transaction has been carried out, you must notify us without undue delay and, in any event, within 13 months of the debit date. Such notification should be made in accordance with
clause 1.3 of these Terms. If you fail to notify us within the 13 month time period you may not be entitled to have any errors corrected. 11.2 You shall bear all losses caused by unauthorised payment transactions if those losses result from a fraudulent
act on your part or gross negligence in carrying out your obligations to use any telephone arrangements or passwords (“Security Instrument”) in accordance with the Terms governing their use and to inform us without delay as soon as you becomes aware
of the loss or theft or of any unauthorised use thereof. 11.3 If, in accordance with clause 11.1, you notify us of an unauthorised Payment Transaction we will immediately (i.e. by the end of the next Business Day following your notification to us)
refund the amount of the unauthorised Payment Transaction. 11.4 If, in accordance with clause 11.1, you notify us of an incorrectly executed Payment Transaction we will investigate and without delay will refund the amount of the non-executed or defective
Payment Transaction immediately. 11.5 Where we consider that there is evidence to suggest you have acted fraudulently or have deliberately or grossly negligently failed to comply with your obligations in relation to the Security Instrument (set out
in clause 19 below), we reserve the right to investigate the claim before making any refund. If we decide to investigate the claim before making a refund, we will carry out our investigations as quickly as possible. Nothing in this clause 11 affects
our right to investigate the circumstances after a refund has been made. If we subsequently determine that a payment transaction was authorised (or you have deliberately or with gross negligence failed to comply with the obligations in relation to
the Security Instrument in clause 19), we reserve the right to reverse any refund previously made, on giving you reasonable notice of our intention to do so.

12. Your Liability for Unauthorised Payment Transactions

12.1 For lost and stolen Security Instruments or misappropriation where you have failed to keep any personal security feature, for example any PIN or password, safe, your liability for any unauthorised Payment Transactions will be capped at £35 per each
instance of loss, theft or misappropriation (not per Payment Transaction). You will not liable for any losses: (a) arising after you have notified us that the Security Instrument or your access details to any Security Instrument have been lost, stolen
or misappropriated (in accordance with clause 19); (b) if we have not provided a means for you to make the notification to us referred to in clause 19 (subject to the force majeure provisions in clause 21); (c) if we have not authenticated any of
your Payment Transactions in accordance with our obligations under regulation 100 of the PSRs; or (d) where the Security Instrument has been used in connection with certain distance contracts (other than excepted contracts), as defined in the Consumer
Contracts (Information, Cancellation and Additional Charges) Regulations 2013 . 12.2 Where any unauthorised Payment Transaction arises from you acting fraudulently, or you intentionally or with gross negligence fail to comply with the obligations
in clause 19 Security Instruments – Your Obligations, you will be liable for all losses (including our losses).

13. Exchange Rates

13.1 Where you transmit money for us to make a payment on your behalf but you incorrectly send a payment to an account of ours which is denominated in a different currency from your intended currency and where that consequently leads to an exchange rate
charge being imposed by our bank for converting the money to the correct currency you will be responsible for that charge. As an example, if you place UK Sterling into our Euro denominated account when you intend for us to make a payment in UK Sterling
the money deposited in our Euro account will have to be transferred by our bank to our UK Sterling account which will lead to an exchange rate loss and charges which will be passed to you.

14. Execution of Payment Orders – Time Limits and Value Dates

14.1 When you make a payment from your Current Account: 14.1.1 in Euros; or 14.1.2 in UK Sterling and both the payer and payee are based in the UK (a “UK National Sterling Transaction”); or 14.1.3 that involves one currency conversion between UK sterling
and euros and that currency conversion is carried out in the UK (and where the Payment Transaction is being made to a payee in another EEA state, the amount transferred is denominated in euro), to a payee whose payment services provider (e.g. bank)
is located in the EEA, we will execute the Payment Transaction on the same Business Day if received before 2.30pm, or on the following Business Day if received after 2:30pm or on a non-Business Day, and shall ensure that the payment amount will reach
the payee’s bank no later than the following Business Day. 14.2 When you make a payment: 14.2.1 in a currency of an EEA state other than Euros; and 14.2.2 which is not a UK National Sterling Transaction, to a payee whose payment service provider (e.g.
bank) is within the EEA we will execute the Payment Transaction on the same Business Day if received before 2:30pm, or on the following Business Day if received after 2:30pm or on a non-Business Day, and shall ensure that the amount of the Payment
Transaction will reach the payee’s bank no later than the fourth Business Day following the time we debit the payment amount from your Account. 14.3 For all other payments not covered by clauses 14.1 and 14.2 above, we will execute the Payment Transaction
as soon as we receive the Payment Order but you accept that the execution time for the payment transaction will depend on the regulations governing the functioning of the international payment systems and that we will not be required to comply with
the deadlines set out in clauses 14.1 and 14.2.

15. Funding Your Payment Transactions

15.1 You can only fund your Payment Transactions by transferring cash from a bank account held in your own name. 15.2 When you transfer cash to us for the execution of a Payment Transaction we will, subject to being provided with any anti-money laundering
documentation that we may request in accordance with clause 20, make it available for you to use immediately after we receive it.

16. Cancelling a Payment Order

16.1 When you are the payer you cannot revoke or cancel a Payment Order after it has been received by us. 16.2 You must notify us of any revocation or cancellation of a Payment Order in accordance with clause 1.3 of these Terms. We may ask you to provide
written confirmation of your revocation or cancellation. 16.3 After these deadlines, it is only possible to cancel a Payment Order if this is specifically agreed between us.

17. Transactions with a “Unique Identifier”

17.1 For the purpose of executing a regulated Payment Order, in the case of UK bank payments, in UK sterling, you must provide the sort code and account number of the payee’s account. For payments within the Single Euro Payments Area (or “SEPA”), then
you must provide us with the account number and sort code of the payee in IBAN format, together with the BIC (SWIFT). These are known as the “Unique Identifier”, although we may also request details of the name of the payee, or a reference number/invoice
number for the payment. 17.2 We are under no obligation to check the accuracy of the Unique Identifier given to us by you. If the Unique Identifier provided by you is incorrect, the Bank shall not be liable for the non-execution or incorrect execution
of the Payment Order under clause 18. We shall, however, make reasonable efforts to recover the funds involved in the payment transaction, for which we may charge you a fee.

18. Incorrect or Non-Execution of Payment Orders

18.1 This clause 18 is subject to the provisions in clause 17 regarding Unique Identifiers. 18.2 Where an authorised Payment Order given to us by you or the payee is incorrectly or not executed we will be liable to you unless we can show that: 18.2.1
where you are the payer, the payee’s payment services provider received the amount of the payment transaction on time. 18.2.2 the non-execution or defective execution is the result of a force majeure event (clause 21 of these Terms). 18.2.3 correct
execution of the Payment Order would result in us breaking any provisions of applicable national or EU law or regulation. 18.3 Where we are liable for the incorrect or non-execution of the Payment Order under clause 18.2 above, we will refund the amount
of the Payment Transaction to you without undue delay. This liability will extend to charges and interest incurred by you. 18.4 Where you request us to do so, we will make reasonable efforts to trace and recover an incorrect payment made by us on your
behalf.

19. Security Instrument Details – Your Obligations

19.1 It is your responsibility to keep your details relating to your Security Instrument and the Security Instrument itself safe. This means that you should take all reasonable steps to avoid the loss, theft or misuse of your account, which we would
expect to include the following: 19.1.1 Not disclosing the Security Instrument details (such as a password or PIN) to anyone except where necessary to complete a Payment Transaction; and 19.1.2 Keeping your Security Instrument details (including passwords)
safe at all times. 19.2 You must immediately inform us of the loss, theft or possible fraudulent use of a Security Instrument issued by us using the following in clause 1.3 19.3 Once we receive a notification from you that your Security Instrument has
been lost/stolen or misappropriated, we shall prevent all further use of the Security Instrument.

PART 3: GENERAL PROVISIONS
20. Anti-Money Laundering

20.1 It is your responsibility to promptly supply us with all information and documentation which we may ask you for at anytime to enable us to comply with any legal requirements on us relating to our services including by the Money Laundering Regulations. This process may require sight of certain documentation to verify the identity and place of residence of the Client. We may also request that the Client inform us how any currency being exchanged was obtained/accumulated. If the Client provides false or inaccurate information and we suspect fraud or money laundering we will record this. We will not implement any transactions until our verification requirements have been met. We take no responsibility for any delay where money laundering verification is outstanding. In circumstances where sufficient verification is not received in a timely manner after we have received completed applications, the application(s) and any monies may be returned to the Client.

21. Force majeure

21.1 HERMEX shall not be deemed to be in breach of these Terms or otherwise have any liability to the Client on the occurrence of any:
(a) Abnormal or unforeseeable circumstances beyond HERMEX’s control, where the consequences would have been unavoidable despite all efforts to the contrary; or
(b) Obligations under other provisions of national or EU law or regulation (including, but not limited to, anti-money laundering legislation
(“Force Majeure Event”).
22.2 HERMEX shall notify the Client of the occurrence of a Force Majeure Event as soon as is reasonably practicable following such occurrence.
22.3 Where a Force Majeure Event occurs, HERMEX may (at its option), on the subsistence of such force majeure event for fourteen (14) consecutive days, and will, on the subsistence of such force majeure event for twenty-eight (28) consecutive days, cancel the Contract and refund any sale currency paid under that Contract to the Client. The Client shall not be entitled to compensation in respect of any force majeure event.

22. Duration, termination

22.1 The Client shall be entitled to terminate these Terms forthwith by written notice to HERMEX.
22.2 HERMEX shall be entitled to terminate these Terms by giving the Client two months’ written notice.
22.3 The termination rights given by this clause 22 shall be without prejudice to any other right or remedy of either party in respect of the breach concerned (if any) or any other breach.
22.4 Subject as otherwise provided in the Contract, upon the termination or expiry of these Terms for any reason and following the conclusion of any foreign currency transacted under these Terms, neither party shall have any further obligation to the other save for any rights, obligations and/or liabilities which have arisen under these Terms but have not been discharged prior to termination or expiry of the Contract.

23. Disputes

23.1 The Client shall provide HERMEX with written notice if at any time it is dissatisfied with HERMEX’s performance of these Terms or otherwise disputes the validity or enforceability of it. Without prejudice to their rights under these Terms, HERMEX and the Client shall attempt to resolve the dispute in good faith, save that where the dispute remains unresolved for a period of 28 days from the date of notice being served on HERMEX, either party may initiate court proceedings.
23.2 To register a complaint, please contact the Compliance Officer in writing at 13-14 Basinghall Street, London, EC2V 5BQ or by telephone on 020 3026 4030. We will acknowledge receipt of the complaint and will send you a copy of our complaints handling procedure. We will investigate the compliant, obtaining evidence and information about the circumstances as may be required. We may also ask you for further information if we think this is necessary, and may forward your complaint to a third party where we believe that they may be jointly or solely responsible for the matter complained about. We aim to resolve complaints at the earliest possible opportunity, but will (unless you have accepted our earlier response) formally respond to you within eight weeks of receiving your complaint or within 15 Business Days in the event that your complaint relates to a Payment Transaction which may in exceptional circumstances be extended to 35 Business Days. This will either be (i) a “final response”, setting out whether we accept or reject the complaint and whether we will provide any redress, or (ii) a “written response” explaining why we are not in a position to provide a final response and when we expect to be able to provide this. You will be provided with a copy of the Financial Ombudsman Services’ standard explanatory leaflet along with our response. If you are not satisfied with our findings, you may be entitled to refer it to the Financial Ombudsman Service if your complaint relates to a Payment Transaction, subject to certain time limits, unless you are a business, charity or trust with turnover/assets over EUR 2 million or at least ten employees.

24. Notice

Any notice, document or other information (“notice”) to be given by one party to the other under these Terms shall be in writing and shall be deemed to have been duly served if delivered by hand or by first class pre-paid recorded delivery post or sent by electronic transmission to the other party at such postal or electronic address or telecommunications number set out in these Terms or otherwise notified to the other party from time to time. Notice shall be deemed to have been received by the recipient: if delivered personally, when left at the proper address for that party; if sent by first class pre-paid recorded delivery post, at 10.00am on the second business day after posting; or if sent by electronic transmission, simultaneously with effective transmission.

25. Nature of agreement

25.1 Nothing in these Terms shall create, or be deemed to create, a partnership, joint venture or relationship of employer and employee between the parties.
25.2 These Terms, together with any contract note(s) or other documents referred to in these Terms or annexed hereto, contain the entire agreement between the parties and supersede all previous previous arrangements, agreements and understandings between the parties in respect of the Services.
25.3 Each party acknowledges that, in entering into these Terms, it does not rely on any statement, representation, assurance or warranty of any person (whether party to these Terms or not) except as expressly provided herein, and that all conditions, warranties or other terms implied by statute or common law are hereby excluded to the fullest extent permitted by law.
25.4 The Client shall not, without the prior written consent of HERMEX, assign, transfer or subcontract all or any of its rights or obligations under the Contract.
25.5 These Terms do not confer any rights on any person or party (other than the parties to these Terms) under the Contracts (Rights of Third Parties) Act 1999.
25.6 It is intended that these Terms shall be reasonable as between HERMEX and the Client having regard to the nature of them, but if any term of these Terms (or any part of any term) is found to be invalid or unenforceable, that term or part term shall to the extent required be deemed to be severed from and not affect nor impair the validity or enforceability of any other section of these Terms and the parties shall use all reasonable endeavours to replace that term or part term with a valid and enforceable substitute term or part term that gives effect (in so far as possible) to the intended meaning behind the severed provision(s).

26. Variation

26.1 HERMEX may vary these Terms by giving the Client two months’ notice.. Such changes shall be deemed to have been approved if the Client does not object to them by notifying HERMEX of its objection to the change. The notice of the change will also set out what will happen if the client does not object to the change

27. Data Protection

27.1 We, as the controller of your personal data shall process your personal data during and after your relationship with us, in accordance with Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data and other applicable data protection laws, as amended from time to time.

27.2 By entering into the Agreement, you agree and acknowledge that we shall process your personal data including special categories of personal data as per our Privacy Notice available on our Website, as amended from time to time.

27.3 We will process your personal data for the purposes of (i) providing our services to you, (ii) providing you with information about us and our services and improving our services from time to time, (iii) maintaining our IT systems, including our administrative and client management systems, (iv) complying with any requirement of law and/or regulation and/or of any competent authority or professional body (where applicable) of which we are a member.

27.4 We process your personal data for the purposes mentioned herein on the lawful basis that (i) you have given consent (where applicable); (ii) the processing is necessary for the performance of our contract and in order to take steps at your request prior to entering into our contract; (iii) the processing is necessary for compliance with a legal obligation to which we are subject; and (iv) the processing is necessary for the purposes of the legitimate interests pursued by us (subject to the relevant individual’s fundamental rights and freedoms overriding such interests).

27.5 You have the right to request from us access to and rectification or erasure of personal data or restriction of processing concerning you or to object to processing and to withdraw your consent (where applicable) at any time by notifying us in writing as well as the right to data portability.

27.6 You acknowledge that we shall store your personal data (and records of your dealings with us) for as long as this Agreement is in force and for any additional period required for regulatory purposes or for the pursue of protecting our Affiliate Entities’ legitimate interests.

27.7 We shall disclose your personal data to member companies of the FxPro group of companies, marketing companies, business partners, IT service providers and other financial institutions such as payment services providers and banks and third-party introducers (relevant to you), for the purposes described in clause 27.4 above. In the event that a transfer of personal data is made to countries located outside of the EEA we shall carry out such disclosure to a recipient (i) who is in a country which provides an adequate level of protection for personal data or (ii) under appropriate safeguards pursuant to the provisions of applicable data protection laws (e.g. by an agreement in the form of standard data protection clauses adopted by the European Commission), the form of which is available here.

27.8 Further details of how we process personal data including inter-alia our lawful basis of processing personal data, rights of the data subject and principles and information in respect of transfers of personal data are specified in our Privacy Policy available on our Website.

27.9 HERMEX has designated a Data Protection Officer to, inter-alia, oversee and monitor HERMEX’s compliance under applicable data protection laws and to act as the Company’s point of contact for the competent authority. You have the right to lodge a complaint to the UK Information Commissioner’s Office if you believe we have not handled your request in an appropriate manner. You may contact our Data Protection Officer by email to the address dataprotection@hermexfx.com or by letter to 13-14 Basinghall street, EC2V 5BQ, London, UK.

27.10 If, during the course of our business relationship, there is a change in your personal data you must ensure that this data is updated and accurate by contacting us as soon as practically possible.

27.11 We shall implement appropriate technical and organisational measures to ensure an adequate level of security appropriate to the applicable risk. Transmission of data via the internet and/or other networks does not always ensure appropriate security of personal data hence you must always ensure that you transfer data to us via secure means.

28. Governing Law and Jurisdiction

These Terms and any dispute or claim arising out of or in connection with them or the subject matter, whether of a contractual or non-contractual nature, shall be solely governed by and construed in accordance with the laws of England and Wales, and each party hereby submits to the exclusive jurisdiction of the courts of England and Wales.

29. Privacy Policy

INTRODUCTION

Your privacy is very important to us. We are committed to protecting and respecting your personal data.  This Privacy Policy describes what types of personal data we collect about you when you choose to use our services, how we will use your personal data, when and with whom we share it and how we will keep it safe. It also details your rights in respect of our processing of your personal information and how you may exercise them. Please take the time to read and understand this policy

We may make changes to this Notice from time to time and it is important that you check this Notice for any updates. Any personal information we hold will be governed by our most current privacy notice. If we make changes we consider to be important, we will communicate them to you.

Please note that this notice is addressed to customers and potential customers. If you are a Hermex International Limited employee, a contractor to Hermex International Limited or a third-party service provider, your personal information will be used in connection with your employment contract, your contractual relationship or in accordance with our separate policies which are available by contacting us.

Any reference to ‘us’, ‘our’, ‘we’ or ‘HermexFx’ in this privacy notice is a reference to Hermex International Limited as the context requires unless otherwise stated.

Similarly, any reference to ‘you’, ‘your’, ‘yours’ or ‘yourself’ in this privacy notice is a reference to any of our customers and potential customers as the context requires unless otherwise stated.

By accessing our websites including using any of the communication channels to contact us, we consider that you have read and understood the terms of this notice and how we process any information you disclose to us including personal data prior to becoming a client. Once you open an account with us, you agree that this notice, including any amendments will govern how we collect, store, use, share and in any other form process your personal data and your rights during our business relationship and after its termination

WHO ARE WE?

  • Hermex International Limited (a company registered in England and Wales and whose registered office is 13/14 Basinghall Street, London, EC2V 5BQ and who is registered and regulated by the Information Commissioner (Registration number Z2337375).

WHAT KIND OF PERSONAL INFORMATION DO WE COLLECT AND STORE?

As part of our business we collect personal data from customers and potential customers that include the following:

  • name, surname and contact details
  • date of birth and gender
  • information about your income and wealth including details about your assets and liabilities, account balances, trading statements, tax and financial statements
  • profession and employment details
  • location data
  • knowledge and experience in trading, risk tolerance and risk profile
  • IP address, device specifications and other information relating to your trading experience
  • Bank account, e-wallets and credit card details
  • details of your visits to our Website or our Apps including, but not limited to, traffic data, location data, weblogs and other communication data.

We use cookies to store and collect information about your use of our Website. Cookies are small text files stored by the browser on your equipment’s hard drive. They send information stored on them back to our web server when you access our Website. These cookies enable us to put in place personal settings and load your personal preferences to improve your experience. You can find out more about our cookies on our “Cookies Policy” available on our Website.

We also keep records of your payment behaviour, including a record of:

  • payments you’ve made with us
  • historical data about the payments you have made
  • your preference for certain types of products and services

We are required by law to identify you if you are opening a new account or adding a new signatory to an existing account. Anti-money laundering laws require us to sight and record details of certain documents (i.e. photographic and non-photographic documents) to meet the standards, set under those laws. Identification documentation, as required under anti-money laundering legislation or other legislation relevant to the services we provide to you, includes:

(a) passport;

(b) driver’s licence;

(c) national identity card (if applicable);

(d) utility bills;

(e) trust deed (if applicable);

(f) a credit check on the individual; or

(g) other information we consider necessary to our functions and activities.

If you are a corporate client we are required to collect additional information such as corporate documents of address, shareholders, directors, officers including additional personal information on the Shareholders and Directors. We have the right to ask any additional information we deem necessary to be compliant with our legal and regulatory requirements.

We obtain this information in a number of ways through your use of our services and websites, the account opening applications, our demo sign up forms, webinar sign up forms, website cookies, and similar tracking technology built into our Websites and Apps, subscribing to news updates and from information provided in the course of our ongoing relationship.

We may also collect this information about you from third parties either through bought-in third party marketing lists, publicly available sources, social media platforms, introducing brokers and affiliates, bankers and credit card processors, subscription-based intelligence databases and other third-party associates.

We may ask for other personal information voluntarily from time to time (for example, through market research, surveys or special offers). If you choose not to provide the information we need to fulfil your request for a specific product or

service, we may not be able to provide you with the requested product or service.

We may record any communications, electronic, by telephone, in person or otherwise, that we have with you in relation to the services we provide to you and our relationship with you. These recordings will be our sole property and will constitute evidence of the communications between us. Such telephone conversations may be recorded without the use of a warning tone or any other further notice.

Further, if you visit any of our offices or premises, we may have CCTV which will record your image.

WHO MAY WE DISCLOSE PERSONAL INFORMATION TO?

As part of using your personal information for the purposes set out above, we may disclose your information to:

  • Our group, parent company (FxPro group) and other companies within the FxPro group who provide financial and other services;
  • third party apps providers when you use our apps, communication systems and trading platforms which are provided to us by third parties;
  • service providers and specialist advisers who have been contracted to provide us with services such as administrative, IT, analytics and online marketing optimization, financial, regulatory, compliance, insurance, research or other services;
  • introducing brokers and affiliates with whom we have a mutual relationship;
  • Payment service providers and banks processing your transactions;
  • auditors or contractors or other advisers auditing, assisting with or advising on any of our business purposes;
  • courts, tribunals and applicable regulatory authorities as agreed or authorised by law or our agreement with you
  • government bodies and law enforcement agencies where required by law and in response to other legal and regulatory requests;
  • any third-party where such disclosure is required in order to enforce or apply our Terms and Conditions of Service or other relevant agreements;
  • anyone authorised by you.

We endeavor to disclose to these third parties only the minimum personal data that is required to perform their contractual obligations to us. Our third-party service providers are not permitted to share or use personal data we make available to them for any other purpose than to provide services to us.

Our websites or our apps may have links to external third party websites. Please note, however, that third party websites are not covered by this privacy notice and those sites are not subject to our privacy standards and procedures. Please check with each third party as to their privacy practices and procedures.

WHEN AND HOW DO WE OBTAIN YOUR CONSENT?

We may process your personal data for one or more lawful bases of processing (“Lawful Basis”) depending on the specific purpose for which we are using your data.

The Lawful basis are the following:

  • to perform our contractual obligations towards you
  • to be compliant with the legal and regulatory requirements
  • to pursue our legitimate interests

Where our use of your personal information does not fall under one of these three Lawful basis we require your consent.  Such consent shall be freely given by you and you have the right to withdraw your consent at any time by contacting us using the contact details set out in this privacy notice or by unsubscribing from email lists.

MANAGEMENT OF PERSONAL INFORMATION

We are committed to safeguarding and protecting personal data and will implement and maintain appropriate technical and organisational measures to ensure a level of security appropriate to protect any personal data provided to us from accidental or unlawful destruction, loss, alteration, unauthorised disclosure of, or access to personal data transmitted, stored or otherwise processed.

We have appointed a Data Protection Officer to ensure that our management of personal information is in accordance with this privacy notice and the applicable legislation.

We require organizations outside Hermex International Limited who handle or obtain personal information acknowledge the confidentiality of this information, undertake to respect any individual’s right to privacy and comply with the all relevant data protection laws and this privacy notice.

In brief, the data protection measures we have in place are the following:

  • we train our employees who handle personal information to respect the confidentiality of customer information and the privacy of individuals
  • requiring our employees to use passwords and two-factor authentication when accessing our systems;
  • we apply Chinese walls and employees only have access to the personal data required for the purposes of the tasks they handle.
  • We apply data encrypting technologies during data transmission during internet transactions and client access codes transmitted across networks
  • employing firewalls, intrusion detection systems and virus scanning tools to protect against unauthorised persons and viruses entering our systems;
  • using dedicated secure networks or encryption when we transmit electronic data for purposes of outsourcing;
  • practising a clean desk policy in all premises occupied by us and our related bodies corporate and providing secure storage for physical records; and
  • employing physical and electronic means such as access cards, cameras and guards to protect against unauthorized access.

HOW DO WE STORE PERSONAL INFORMATION AND FOR HOW LONG?

We hold personal information in a combination of secure computer storage facilities and paper-based files and other records and take steps to protect the personal information we hold from misuse, loss, unauthorised access, modification or disclosure.

When we consider that personal information is no longer needed, we will remove any details that will identify you or we will securely destroy the records.

However, we may need to maintain records for a significant period of time. For example, we are subject to anti-money laundering laws which require us to retain copies and evidence of the actions taken by us in regard to your identity verification, sources of incomes and wealth, monitoring of your transactions, telephone, chat and email communications, orders and payment history, handling of your complaints and records that can demonstrate that we have acted in line with regulatory code of conduct throughout the business relationship. These records must be maintained for a period of five years after our business relationship with you has ended or even longer if we are asked by our Regulators.

Where you have opted out of receiving marketing communications we will hold your details on our suppression list so that we know you do not want to receive these communications.

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may also be processed by staff operating outside the EEA who work for us or for one of our suppliers or Affiliate companies. We will take all steps reasonably necessary to ensure that your data is treated securely and in accordance with this Privacy Policy.

When we transfer your data to other third parties outside the EEA, we may in some cases rely on applicable standard contractual clauses, binding corporate rules, the EU-US Privacy Shield or any other equivalent applicable arrangements.

If you would like a copy of such arrangements, please contact us using the contact details below.

YOUR RIGHTS                                                                    

Please note that these rights do not apply in all circumstances. You are entitled to:

(a) request access to your personal data (commonly known as a “data subject access request”);

(b) request correction of the personal data that we hold about you;

(c) request erasure of your personal data. Note, however, that we may not always be able to comply with your request of erasure for specific legal reasons which will be notified to you, if applicable, at the time of your request;

(d) object to processing of your personal data where we are relying on a legitimate interest (or those of a third party) and there is something about your particular situation which makes you want to object to processing on this ground as you feel it impacts on your fundamental rights and freedoms. You also have the right to object where we are processing your personal data for direct marketing purposes. In some cases, we may demonstrate that we have compelling legitimate grounds to process your information which override your rights and freedoms;

(e) request restriction of processing of your personal data. This enables you to ask us to suspend the processing of your personal data in the following scenarios:

  • if you want us to establish the data’s accuracy;
  • where our use of the data is unlawful, but you do not want us to erase it;
  • where you need us to hold the data even if we no longer require it as you need it to establish, exercise or defend legal claims; or
  • you have objected to our use of your data but we need to verify whether we have overriding legitimate grounds to use it;

(f) request the transfer of your personal data to you or to a third party. We will provide to you, or a third party you have chosen, your personal data in a structured, commonly used, machine-readable format. Note that this right only applies to automated information (i.e. not to hard copies) which you initially provided consent for us to use or where we used the information to perform a contract with you; and

(g) withdraw consent at any time where we are relying on consent to process your personal data.

If you want to exercise your rights, please contact us by email at dataprotection@hermexfx.com using the registered email address you disclosed to us.

We try to respond to all requests within 1 (one) month. Occasionally, it may take us longer than 1 (one) month if your request is particularly complex or you have made a number of requests. In this case, we will notify you within 1 (one) month of the receipt of your request and keep you updated.

We may charge you a reasonable fee to you when a request is manifestly unfounded, excessive or repetitive, or we receive a request to provide further copies of the same data. In this case we will send you a fee request which you will have to accept prior to us processing your request. Alternatively, we may refuse to comply with your request in these circumstances.

WHAT IF YOU HAVE A QUERY OR A COMPLAINT?

If you have a concern about any aspect of our privacy practices, you have the right to contact us to make a query or a complaint by email at dataprotection@hermexfx.com.

We try to respond to all requests within 1 (one) month. Occasionally, it may take us longer than 1 (one) month if your request is particularly complex or you have made a number of requests. In this case, we will notify you within 1 (one) month of the receipt of your request and keep you updated.

If you are not satisfied with our response to your complaint, you have the right to lodge a complaint with our supervisory authorities, the Information Commissioner’s Office (ICO). Alternatively, you also have the right to lodge a complaint with the data protection authority of your country of residence.

You can find details about how to do this on the following websites:

https://ico.org.uk/concerns/

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