This User Agreement (the "Agreement") is an agreement between you and Storm (as defined below) and applies to your use of Storm Digital Asset Exchange (the "Platform") as a user ("User", "you" or "your") to buy or sell digital assets, hold digital assets, trade margin, leveraged tokens and/or futures (where permitted), use the Platform Application Programming Interface ("API"), or use any other services provided through the Website (as defined below) or the Platform's official mobile application (the "App") (collectively, the "Services"). By registering for the Platform (an "Account") or using any of the Services, you agree that you have read, understood and accept all of the terms and conditions in this Agreement. "Arbitration; Waiver of Class Actions", as well as our Privacy Policy, Cookie Policy and Electronic Signature Consent, you acknowledge and agree that you will be bound by these agreements and policies.
References to "Storm", "we" or "our" in this Agreement refer to the relevant Storm group entity that provides the Services. The entity providing the Services will generally be determined based on your country of residence. Your "Country of Residence" means the jurisdiction associated with your account, as determined by the official identification documents and verified residential address you provide.
If you access and use the Services on behalf of a company (such as your employer) or other legal entity, you represent and warrant that you have the authority to bind that company or other legal entity to this Agreement. In such case, "you" and "your" will refer to that company or other legal entity.
Our Services are not available to persons who are U.S. citizens, companies registered in the U.S., registered offices in the U.S., or who reside in the U.S. or any Restricted Territory. If such persons use the Services despite the foregoing, they will be deemed to be bound by the terms of this Agreement.
Note that the term "Digital Assets" used in this Agreement refers to Bitcoin, Ethereum, or any other digital asset, cryptocurrency, virtual currency, or other token that can be purchased and redeemed through Storm.
1. Applicable Laws and Rules
Your conduct on the Storm platform is subject to the laws, regulations, and rules of any applicable government or regulatory agency, including, but not limited to, all applicable tax, anti-money laundering ("AML"), and counter-terrorism financing ("CTF") regulations.
If your country of residence is in the European Economic Area (“EEA”), we will process your personal data (within the meaning of the GDPR) in accordance with the General Data Protection Regulation (EU) 2016/679 (“GDPR”); for purposes of the General Data Protection Regulation (EU) 2016/679 (“GDPR”), your representative in the EEA is Storm Digital Assets. If your country of residence is not in the EEA, the GDPR does not apply to your use of the Storm Services.
You expressly agree and understand that by opening an account and using the Services in any capacity, you shall comply with and be legally bound by this Agreement and all applicable laws and regulations (including, without limitation, those set forth in this Section 1, as applicable), and failure to comply with the foregoing may result in your inability to use the Services or the closure of your account. For the avoidance of doubt, continued use of your account and receipt of all trading fee discounts and cashbacks is conditional upon your continued compliance with this Agreement and all applicable laws and regulations at all times.
2. Eligibility
You must be at least 18 years of age and have not been previously suspended or removed from the Platform to enter into this Agreement. By accessing or using the Platform, you further represent and warrant that you are not a Restricted Investor, or a citizen or resident of the United States or Restricted Territories.
Any citizen or resident of the United States or Restricted Territories is strictly prohibited from accessing or using the Platform.
You represent and warrant that you will not use the Platform to conduct any illegal activity, including, but not limited to, illegal gambling, money laundering, fraud, extortion, blackmail, redemption of data, financing of terrorism, other violent activities, or any prohibited market practices.
Notwithstanding the foregoing, the Platform may decide not to provide all or part of the Services in every market at its sole discretion or based on legal or regulatory requirements in the region where the user is located.
3. Registration Process; Identity Verification
When you register for an account, you must provide the latest, complete and accurate information as required by the registration page. You are the only individual authorized to use the account, and you may not share account credentials with anyone else. You also agree to provide us with any additional information requested by the Platform at the time of account registration and on an ongoing basis thereafter for the purpose of verifying identity and detecting money laundering, terrorist financing, fraud or any other financial crime, including, but not limited to, a copy of a government-issued photo ID or proof of residency, such as a lease or utility bill. You allow us to retain this information and authorize us to make inquiries, directly or through third parties, as we deem necessary to verify your identity or protect you, our other users and/or us from fraud or other financial crime, and to take actions we deem necessary based on the results of these inquiries. When we make these inquiries, you acknowledge and agree that your personal information may be disclosed to credit reference and fraud or financial crime prevention agencies, which may respond to our inquiries in full.
In some cases, we may ask you to submit additional information about yourself or your business, provide records, and complete other verification steps (such process, "Enhanced Due Diligence").
You represent and warrant that any and all information provided to us under this Agreement or otherwise is true, accurate, and not misleading. If any such information changes, you are obliged to update the information as soon as possible.
We may be required from time to time to provide further information related to your transactions in order to comply with applicable laws and regulations and the platform's own policies. If you fail to provide this information in a timely manner, the platform may temporarily suspend your use of the service (until you provide the relevant information) or close your account.
4. Anti-Money Laundering and Counter-Terrorism Financing Compliance
Our anti-money laundering and counter-terrorism financing procedures are guided by all applicable anti-money laundering and counter-terrorism financing rules and regulations. These standards are designed to prevent the use of the Storm platform for money laundering or terrorist financing activities. We take compliance seriously and it is our policy to prohibit fraudulent transactions, report suspicious activity, and actively prevent money laundering and any related actions that facilitate money laundering, terrorist financing, or any other financial crime.
5. Initial Funding; Third-Party Transfers
You can send the purchased digital assets to the applicable address provided by the Platform and wait for the balance to be credited. If you already own digital assets, you can send them to the applicable address provided by the Platform and wait for the assets to be credited. It is your responsibility to ensure that the digital assets are sent to the correct address provided specifically for that asset, otherwise, you may never recover your funds.
You understand and agree that certain digital assets have a minimum deposit amount requirement. Deposits below the minimum requirement may not be reflected in your account. You understand that you must meet the minimum deposit amount requirement in order to trade and withdraw these funds.
If you send a digital asset to a Storm address that cannot receive that particular digital asset, or if there is a typographical error or other problem in the wallet address, the digital asset may never be recovered. If you send a digital asset from your account on the Platform to an external address that is incompatible with the digital asset, or if there is a typographical error or other problem in the wallet address, the digital asset may never be recovered. If you send a digital asset to an incorrect or incompatible address, you are fully responsible for any losses incurred as a result.
The Platform makes no representations or warranties about the time it will take for digital assets transferred from a third-party wallet or other source to become available for use in your account.
When you choose to transfer digital assets from your account to a third-party wallet or other location, there is always the possibility that the new administrator may reject your transfer, or that the transfer may fail due to technical or other issues affecting our Platform. You agree not to hold the Platform responsible for any losses resulting from a rejected transfer.
6. Privacy Policy
We are committed to protecting your personal information and helping you understand clearly how we use your personal information. You should carefully read our Privacy Policy and Cookie Policy to learn more about how your personal information is collected, stored, protected and used.
7. Security of User Information
You are responsible for maintaining the confidentiality and security of all information you use to access the Services, including your account name, user ID, password, etc. You are responsible for (1) keeping your email address updated in your account profile, and (2) keeping your user information confidential and maintaining the security of your account (including enabling all relevant security features). You agree to notify Storm immediately of any unauthorized use of the Services or any other breach of the security of the Services. Storm is not responsible for any loss or damage resulting from your failure to protect your account or user information.
We are not responsible for any damage or disruption caused by computer viruses, spyware, or other malware that may affect your computer or other device, phishing, spoofing, or other attacks. We recommend that you regularly use reliable software to screen for and prevent viruses and malware. If you receive an email claiming to be from Storm and question its authenticity, you should log in to your account through the Platform's website or app and should not click on any links in the email.
We make reasonable efforts to protect your account, and we ask you to do the same. You should not only protect your password, but also the email account associated with your account and any device used to access your account. We strongly recommend that you enable two-factor authentication because it provides greater security than simply logging in with a password; it also prevents potential attackers from logging into your account if your email and/or password is obtained by someone else as a result of a third-party data breach.
8. Use of Application Programming Interface (API)
Subject to this Agreement and any other agreement between you and the Platform regarding the API, the Platform hereby grants you a limited, revocable, non-exclusive, non-transferable, non-sublicensable license to use the API for the sole purpose of trading on the Platform. You agree not to use the API or the data provided through the API for any other commercial purpose. Your access and use of the API is entirely at your own risk, and the Platform is not responsible for your use of the API.
The Platform may, at its sole discretion, limit the number of API calls to maintain market stability and proper operation. You acknowledge and agree that if you exceed the limit, the Platform may adjust your activity or stop providing you with access to the API (or any other API provided by the Platform Company). If we believe that you have violated the terms of this Agreement or any other agreement between you and us regarding the use of the API, we may immediately suspend or terminate your access to the API without further notice.
9. Risks of Trading Digital Assets on Exchanges
Some of the risks associated with digital assets and services are listed below.
No Advice
We only provide execution services and do not provide any advice on the merits of a particular transaction, the risks of a transaction or its tax consequences, nor do we provide any other financial, investment or legal advice related to the services. If we or our representatives do provide trading advice, market commentary or any other information, such behavior is incidental to the relationship between you and us, and such information should not be regarded as investment or financial advice. Any decision to buy or sell digital assets is the user's decision, and we will not be responsible for any losses suffered by them.
You accept the risks of trading digital assets. When entering into any transaction on the platform, you represent that you have been, are and will be solely responsible for independently evaluating and investigating the risks of the transaction and the underlying digital assets. At the same time, you also represent that you have sufficient knowledge, market insights, professional advice and experience to evaluate the merits and risks of any transaction or underlying digital asset on your own.
Digital Assets and Transfers
Trading digital assets carries a high level of risk. The value of each digital asset fluctuates to a greater or lesser extent due to its characteristics. In addition, factors beyond the control of the Platform, such as regulatory activity, market manipulation or price volatility, may affect the market liquidity of a particular digital asset. Blockchain networks may go offline due to vulnerabilities, forks (as defined below) or some other unforeseen reasons. In general, we recommend that users with limited trading experience and low risk tolerance refrain from frequent trading. The risk of speculation on the value of digital assets is high, and users should avoid over-trading beyond their acceptable loss range.
Understanding digital assets requires deep technical knowledge. Digital assets are often described in very technical terms, and understanding the inherent risks requires users to have a comprehensive understanding of applied cryptography and computer science. The listing of digital assets on the Platform does not represent our support or opposition to the underlying technology of any digital asset, nor can it be used as a substitute for your understanding of the specific risks of each digital asset. We make no warranties regarding the suitability of digital assets traded under this Agreement and assume no fiduciary responsibility in our relationship with you.
Users accept all consequences of sending digital assets to addresses outside of our Platform. Digital asset transactions may be irreversible. Once you send digital assets to an address, you accept the risk that you may permanently lose the assets. For example, you may enter an incorrect address and you may never know the true owner of the address; or the address belongs to an entity that will not return your digital assets; or the address belongs to an entity that requires you to verify your identity or take other actions before returning your digital assets.
Issue and Value of Digital Assets
Whether you can use the Platform to purchase digital assets depends on whether there are counterparties willing to sell the same digital assets, which is beyond the control of the Platform. The Platform does not make any promises about the time when you purchase digital assets through the Platform, or whether you can successfully purchase them.
The value of a digital asset may be derived from the willingness of market participants to continue to trade the digital asset, and the disappearance of the market for a certain digital asset may result in a permanent and complete loss of its value.
You acknowledge and agree that digital assets that are tradable in one jurisdiction and/or available for use with the Platform's features may not be available for trading or use in another jurisdiction (if applicable).
Software Protocols and Operational Challenges
The software protocols behind digital assets are typically open source projects, which means that (1) the development and control of such digital assets are beyond the control of the Platform; and (2) such software protocols may change suddenly and dramatically, which may have a significant impact on the availability, usability or value of a certain digital asset.
You are aware of and accept any operational challengesRisks. The Platform may encounter sophisticated cyber attacks, unforeseen surges in activity, or other operational or technical difficulties that may cause service interruptions. You understand that our services may encounter operational problems, resulting in delays. You agree to bear the risk of transaction failures caused by unpredictable or severe technical failures (including sophisticated attacks). You agree not to hold the Platform responsible for any related losses.
Compliance
You are responsible for complying with applicable laws. You agree that the Platform is not responsible for determining which laws apply to your transactions, including tax laws. You are solely responsible for reporting and paying any taxes incurred as a result of using the Services.
Changes in legislation and regulation
Changes or actions in legislation and regulation at the state, federal, national or international level may adversely affect the use, transfer, trading and value of digital assets.
No deposit protection
The digital assets held in your account are not protected by any deposit insurance, including but not limited to Federal Deposit Insurance Corporation insurance, Securities Investor Protection Corporation or any such insurance outside the United States.
10. Forks and Advanced Protocols
Due to the decentralized and open-source nature of digital assets, any digital asset may undergo sudden, unanticipated or controversial changes ("forks") that may change the availability, functionality, value or even name of a digital asset. Forks may result in multiple versions of a digital asset, which may result in one or more of such versions becoming dominant in the market (each a "dominant digital asset"), or in the partial or complete abandonment or loss of value of any other version of such digital asset (each a "non-dominant digital asset").
The Platform has no obligation to support forks of digital assets held in your account, regardless of whether any version of the forked digital asset becomes a "dominant digital asset" or a "non-dominant digital asset" or has any value at or after the fork. If the Platform decides, at its sole discretion, to support a fork of a digital asset, it will notify customers through an announcement on the website and/or App and/or email, and will not be liable for any actual or potential losses that may result from the decision to support the fork or the timing of support implementation. If the Platform decides in its sole discretion not to support a fork of a particular digital asset, including deciding to support, continue to support, or stop supporting any dominant digital asset or non-dominant digital asset, it will not be responsible or liable for any losses or problems that may arise from not supporting the fork of the digital asset.
Due to their high frequency, controversial and unpredictable nature, forks of digital assets cannot be supported by the Platform in the long term. When you use your account to trade or hold digital assets, you should operate on the assumption that the Platform will never support any forks of digital assets on its platform.
In general, the Platform also does not support the distribution, dividends or "airdrops" of digital assets to wallet addresses (collectively, "airdrops"), regardless of whether you receive such airdrops on platforms other than the Platform where you hold digital assets. The Platform may decide to distribute and/or support airdrops at its sole discretion, but it has no obligation to do so and does not assume any liability to users for failing to do so. If we do not support an airdrop, we will not receive such airdrops for our own benefit (unless this situation cannot or is difficult to avoid based on the distribution method).
Certain specific digital assets run on Ethereum or other protocols, or are distributed to holders of Ethereum or other protocols without any user action. In general, the Platform does not support forks or airdrops, but will notify users of decisions to support the distribution or creation of specific forks, airdrops, or other digital assets.
Please note that if a digital asset forks, the Platform may be forced to suspend all activities related to that digital asset on its Platform (including trading, deposits, and withdrawals) until the Platform determines in its sole discretion that such functions can be restored ("Downtime"). Downtime may occur with little to no warning when a specific digital asset forks. During Downtime, you will not be able to trade, deposit, or withdraw digital assets affected by the fork.
11. Attacks on blockchain networks
The Platform cannot prevent or mitigate attacks on blockchain networks. In the event of an attack, the Platform reserves the right to take the following commercially reasonable actions: (1) If we can confirm that an active digital asset on the Platform is at risk or under attack, we may immediately stop trading, deposits, and withdrawals of that digital asset; (2) If we determine that the attack has caused a significant drop in the value of that digital asset, we may completely stop trading activities for that digital asset. The Platform has no obligation to participate in activities related to attacks on blockchain networks.
The Platform will decide on its own the solution for deposits, withdrawals and user balances of attacked digital assets based on actual circumstances. The Platform makes no representations or warranties about the security of its Platform, and you are responsible for any loss of value or theft of property.
12. Margin Trading
This section applies only to the extent that you are allowed to conduct margin trading on the Platform. Margin trading is prohibited in some jurisdictions, so you may not be able to conduct margin trading on the Platform: please refer to this website for details. The Platform reserves the right to modify and/or remove the margin trading function in your country of residence. You will be notified in advance of any such changes.
Margin trading on the Platform is highly risky. As a borrower, you may lose all your digital assets or owe assets that exceed your principal. The risk of high market volatility and low liquidity means that you may not be able to close your position in some cases. You agree to always maintain sufficient digital assets to meet the Platform's minimum balance requirements, which may change from time to time. If the value of your account's assets falls below the minimum balance requirement, or the Platform determines in its sole discretion that your account is at risk of defaulting on a loan, the Platform may confiscate and liquidate any or all positions and assets in any balance in your account to pay off your debts to other users. If your account does not have sufficient digital assets to repay your debts to other users after its positions and assets are liquidated, you will be responsible for any additional digital assets owed. Deliberate default on loans may result in the Platform reporting your actions to the relevant authorities and/or legal action.
If any balance in your margin account is a digital asset that the Platform plans to remove from the market, the Platform may take measures on your behalf to reduce your potential losses, including but not limited to transferring the balance from your margin account to the spot account and/or from the spot account to the margin account.
When you lend digital assets to other users, you will be at risk of losing the principal if the borrower defaults on the loan and does not have sufficient digital assets to repay the debt after the account is liquidated. Although the Platform has taken a series of measures to prevent borrowers from defaulting on their loans, the risk of high market volatility and low liquidity means that the Platform cannot guarantee that defaults will not occur to any user using the service.
Under certain market conditions, it may be difficult or impossible for you to close your position. This may occur when there is insufficient market liquidity or technical problems with the Platform. Even if you place conditional orders, such as take-profit or stop-loss orders, it may not necessarily limit losses to the specified amount, as these orders may not be executed due to market conditions. Using leverage may work for you or against you; it may result in large losses or gains. All users understand that the underlying technology of digital assets may change at any time, and such changes may affect the assets you have stored on our platform. You are solely responsible for monitoring such technological changes and understanding their impact on your digital assets. Users use their own accounts for all transactions, leveraged transactions and loans. The platform is not responsible for any loss or damage arising from your use of any services, failure to understand the risks associated with the use of digital assets, or your use of our services.
13. Leveraged Trading and Contract Trading
This section applies only to the extent that you conduct leveraged trading or contract trading on the platform. Some jurisdictions prohibit leveraged trading and contract trading, so you may not be able to conduct such transactions on the platform. The platform reserves the right to change and/or remove any user's leveraged trading and contract trading capabilities at any time at its sole discretion. You will be notified in advance of any such changes.
There is a high risk of engaging in leveraged trading and contract trading. The market price of any leveraged or futures product does not reflect the spot market price of the applicable underlying asset, but rather can fluctuate significantly based on the value of the underlying asset price, supply and demand, and other market factors. For example, a small drop in the price of the underlying digital asset of a 100x leveraged product may result in a 100x loss on the leveraged position of the product. In addition, leveraged products that target an inverse return can lose money when the digital asset price rises, as opposed to holding the underlying asset. Given the high volatility and low liquidity of the cryptocurrency derivatives market, it may be difficult or impossible to close a position under certain market conditions. Even if you place conditional orders, such as take-profit or stop-loss orders, it may not necessarily limit losses to the specified amount, as these orders may not be executed due to market conditions.
Therefore, leveraged and futures trading may result in significant losses in a short period of time due to relatively small market movements. Futures are complex financial derivatives that use leverage heavily, which are not only risky, but also require initial and ongoing collateral assets to meet margin requirements. Therefore, leveraged and futures products are not suitable for all users. Only very experienced traders, such as active traders using dynamic strategies, are the target audience for such products. Use extreme caution when trading in these assets. Do not trade until you understand how they work, including but not limited to the risks associated with using leverage, the consequences of pursuing daily leveraged investment results, the risks of shorting, the effects of compounding, and the market volatility risks of leveraged products. You may be required to sacrifice initial margin and any additional funds in your Storm account to maintain your position. If market fluctuations move against your position or margin levels increase, your position will be liquidated and you will lose all your funds.
Users who do not understand leveraged trading or do not intend to actively manage their portfolios should not participate in leveraged trading or contract trading.
By trading leveraged or contract products on the platform, you acknowledge and agree that you have sufficient investment and financial expertise and have the experience and ability to bear the high risks involved in leveraged and contract trading. You also agree to bear all risks arising from the use of leveraged and contract trading on your own account.
The platform is not responsible for any loss or damage arising from your use of any leveraged or contract trading services provided by the Storm platform or your failure to understand the risks associated with leveraged or contract trading.
You agree and hereby authorize Storm to take any measures at its sole discretion to protect users and the Storm platform, including but not limited to forced liquidation or liquidation of positions in situations of high market volatility, low liquidity, etc.
You also agree to maintain sufficient assets in your Storm account to meet the platform's margin requirements for leveraged and contract trading activities. For example, if a futures contract's position value decreases due to market movements, you may need to hold or add additional collateral assets as margin. If you are unable to maintain sufficient assets, the digital assets in your account may be forced to liquidate. In situations of high market volatility, low liquidity, or other conditions, the digital assets in your account may be forced to liquidate without notice. If the net value of your account assets is less than the minimum margin requirement, the digital assets in your account will be forced to liquidate to make up for the margin shortfall. You will also be responsible for any shortfall in your account after such a transaction. If market fluctuations are unfavorable to your open leveraged positions, the corresponding positions in your account may be transferred to the backup liquidity provider on the Storm platform for liquidation and/or sale through the automatic position reduction mechanism.
Leveraged and contract products may result in high portfolio turnover and may be rebalanced to manage the financial risk of the underlying digital assets. In addition, high-volume transactions increase transaction costs. All of the above factors may have a significant negative impact on the performance of leveraged or contract products.
14. Non-withdrawable assets
The Platform may from time to time offer, enable or list certain digital assets that cannot be withdrawn by users for trading (such assets are "Non-withdrawable assets"). You acknowledge, understand and agree that by buying, selling or otherwise trading Non-withdrawable assets on the Platform, you have no right to withdraw, acquire or otherwise receive such Non-withdrawable assets from the Platform or any third party. Trading Non-withdrawable assets is for price discovery purposes only and does not give you rights to the underlying digital assets. In addition, the Platform may, at its sole discretion, add or remove any Non-withdrawable assets at any time, or convert a Non-withdrawable asset into a digital asset that can be withdrawn from the Platform. If any non-withdrawable assets are removed or converted into digital assets that can be withdrawn from the Platform, your sole and exclusive remedy shall be limited, at the discretion of the Platform, to (1) receiving the fair market value of the non-withdrawable assets at the time of removal or conversion, or (2) allowing you to receive the number of assets held in your account at the time of the removal or conversion of the non-withdrawable assets.
15. Right to Change or Remove Features and Suspend or Delay Trading
We reserve the right to change, suspend or discontinue any aspect of the Services, including hours of operation or availability of any features, in any jurisdiction at any time, without notice or liability. We may refuse to process any order and may limit or suspend your access to one or more Services at any time in our sole discretion. Suspension of your access to any Service will not affect your rights and obligations under this Agreement. We may refuse to process an order in our sole and absolute discretion if: (1) we believe the transaction is suspicious; (2) the transaction may involve fraud or misconduct; (3) the transaction violates applicable laws; or (4) it violates the terms of this Agreement. If permitted by law, we will notify you before the end of the business day if we suspend the processing of your order and, to the extent possible, inform you of the reasons for doing so and any corrective actions you can take.
16. Fees
You agree to pay the Platform a fee for completed transactions to use the Service, as specified in the Fees Schedule on this Website, which the Platform may revise or update at its discretion. If necessary, the Platform may, at its discretion, provide alternative fee schedules ("Alternative Fees Schedules") to users who meet certain conditions (such as conditions related to transaction volume). You authorize Storm to deduct any applicable fees from your account when you make a transaction. Changes to the Fees Schedule or Alternative Fees Schedule will take effect and apply from the date specified in the revision. You agree to always maintain a sufficient balance in your account to pay the applicable withdrawal fee. We reserve the right to refuse to provide withdrawal services for any digital asset with a balance less than the applicable withdrawal fee.
17. Promotion
Generally, the Platform will not participate in promotional activities on the Website, App or other platforms without an official announcement. When publishing any information related to the Platform,
You should obtain prior written approval before publishing any statement, written media report, announcement or public information (including promotional or marketing materials).
18. Arbitration: Waiver of Class Action Rights
If you have a dispute with us (a "Complaint"), you agree to contact Storm through our customer service team and try to resolve such dispute amicably. If we are unable to resolve the dispute through our customer service team ("Storm Customer Service"), you and we agree to use the formal complaint procedure set forth below. You agree to follow this procedure before filing any arbitration claim or small claims lawsuit. If you do not follow the procedures set forth in this section before filing an arbitration claim or filing an action in small claims court, we have the right to ask the arbitrator or small claims court to dismiss your claim until you complete the following steps.
After you submit your complaint form, we will confirm receipt of your complaint form. A Storm customer relationship agent ("Agent") will review your complaint. The Agent will evaluate your complaint based on the information you provide and the information available to us. Within 15 business days of our receipt of your complaint form, Agent will send you an email ("Resolution Notice") addressing the issues raised in your complaint form. Agent will: (1) offer to resolve your complaint in the manner you requested; (2) make a decision to deny your complaint and explain the reasons for the denial; or (3) offer to otherwise resolve your complaint. In exceptional cases, if Agent is unable to respond to your complaint within 15 business days for reasons beyond Storm's control, Agent will send you a letter stating the reason for the delay and a deadline to respond to your complaint, which will be no later than 35 business days after we receive your complaint form.
If we are unable to resolve a dispute through the formal complaint process, you and we agree that any dispute arising out of or relating to this Agreement or the Service, including, but not limited to, federal and state statutory claims, common law claims, and claims based in contract, tort, fraud, misrepresentation, and any other legal theory, shall be resolved on an individual basis through binding arbitration (the "Arbitration Agreement"). You may choose to pursue your claim in local small claims court rather than arbitration, as long as your matter remains in small claims court on an individual (non-class, non-representative) basis, as required by applicable jurisdiction. Arbitration shall be conducted under the American Arbitration Association’s Rules for Arbitration of Consumer Related Disputes (available at https://www.adr.org/sites/default/files/Consumer%20Rules.pdf).
This Arbitration Agreement includes, but is not limited to, disputes arising out of or relating to the interpretation or application of this Agreement to Arbitrate, including the enforceability, revocability, scope, and validity of the Agreement to Arbitrate or any part of it. All such matters shall be decided by the arbitrator, and not by a court or judge.
Waiver of Class Action Rights: To the extent permitted by law, all claims must be brought by a party in his or her individual capacity, and not by a plaintiff or class member in any purported class, collective, or representative proceeding (collectively, a "Waiver of Class Action Rights"). The arbitrator may not consolidate more than one person’s claims or conduct any class arbitration. You acknowledge that by agreeing to these terms, you and the Platform are both waiving the right to a jury trial and the right to participate in a class action.
The arbitration will be conducted by a neutral arbitrator and shall be conducted in the English language in the county or parish where you reside or at another mutually agreed location. The arbitrator may award any relief that a court of competent jurisdiction could award, and the arbitration decision may be enforced in any court. The arbitrator's decision and the judgment thereon shall not have precedent or estoppel effect. At your request, hearings may be conducted in person or by telephone, and the arbitrator may provide that motions be submitted and determined by briefs, without a hearing. To the extent permitted by law, in any action or proceeding to enforce this Agreement, any arbitration or small claims litigation conducted under this Agreement, the prevailing party shall be entitled to costs and attorneys' fees. If the arbitrator or arbitration administrator imposes filing fees or other administrative costs on you, we will reimburse you, upon your request, to the extent that these fees or costs exceed the fees you would have to pay if you were to litigate in court. We will also pay additional fees or costs if the arbitration administrator's rules or applicable law require.
19. Copyright in Feedback Materials
The copyright in Feedback Materials (“Feedback”), whether provided by email, website, App or otherwise, is non-confidential and will become the sole property of the Platform. The Platform will own exclusive rights, including all intellectual property rights, and will be entitled to unrestricted use and dissemination of such Feedback for any commercial or other purpose without informing or compensating you.
20. Restricted Conduct
When using the Service, you will not:
Violate or assist any party in violating any law, regulation, ordinance or any rule of any self-regulatory or similar organization of which you are or are required to be a member when using the Service;
Provide false, inaccurate, incomplete or misleading information;
Infringe the copyright, patent, trademark or intellectual property rights of the Platform or any third party;
Engage in any illegal activity, including but not limited to illegal gambling, money laundering, fraud, extortion, blackmail, ransom of data, financing of terrorism, other violent activities or any prohibited market practices;
Distribute unsolicited or unauthorized advertising or marketing materials, written media coverage, announcements and public information, spam or chain letters;
Use web crawlers or similar technologies to access our Services or extract data;
Reverse engineer or disassemble any aspect of the Site, API, App or Service to obtain any source code, underlying logic and concepts and algorithms;
Perform any vulnerability testing, penetration testing or similar testing of the API;
Take any action that imposes an unreasonable or disproportionately large load on our infrastructure, or harmfully interferes with, intercepts or expropriates any system, data or information;
Send any data to the Site or App Transmit or upload any material containing viruses, Trojans, worms or any other harmful programs;
Other attempts to gain unauthorized access to or use of the Website, API, App, other Storm accounts, computer systems or networks connected to the Website or App through crypto mining or any other means;
Transfer any rights granted to you by this Agreement;
Engage in any other activities that the Platform deems to be or may be equivalent to market abuse, including but not limited to fictitious transactions, wash sales, front-running or disruptive market order;
Engage in any illegal behavior, violation of this Agreement or any other behavior that the Platform deems unacceptable in its sole discretion.
21. Delisting Assets; Electronic Trading Terms
We may decide to delist digital assets at any time in our sole discretion for some reasons, which may include changes in the characteristics of a digital asset that has been listed on the Platform. Such characteristics include, but are not limited to:
Low trading volume on exchanges
Broken network security, which may create liability for us and/or our customers
Reduced developer support for the project
Excessive cost to upgrade and/or continue to support the project
Project facing litigation, enforcement actions and/or other legal issues
We will endeavor to provide customers with notice of any delisting of digital assets and allow customers to withdraw digital assets delisted from the Platform before the withdrawal deadline. Once the withdrawal deadline for a digital asset has passed, withdrawals will be disabled and the digital asset will cease to be usable entirely. We will no longer process withdrawals after the relevant withdrawal deadline. In addition, due to reasons beyond our control (such as a network no longer functioning), we cannot guarantee that customers will be able to withdraw any delisted digital asset at any time.
Trades on the Platform may fail for a variety of reasons, including but not limited to changes in seller prices, insufficient margin or unexpected technical difficulties. We do not represent or guarantee that any transaction will be executed properly. In no event will we be liable for any loss or damage arising from the failure of a transaction to be completed properly or in a timely manner. In addition, we are not responsible for notifying you of failed transactions, but you will be able to see any such failed transactions on the Website. You are fully responsible for determining and querying the failure of any transaction you initiate. The Platform does not guarantee that any transaction will be executed, accepted, recorded or remain open.
If you receive any data, information or software through our services other than the data, information or software you are entitled to receive under this Agreement, you will notify us immediately and will not use such data, information or software in any way. If you request to withdraw digital assets and we are unable to meet your request without closing some of your open positions, we will refuse to meet your request until you close enough positions to allow you to withdraw. We may refuse to execute transactions, impose transaction amount limits or transaction restrictions at any time at our sole discretion without further notice. Specifically, if we suspect that the transaction involves money laundering, terrorist financing, fraud or any other type of crime, or we suspect that the transaction is related to the prohibited purposes set out in this Agreement, including transactions involving the opening of an account and then closing the account without any actual transactions occurring, we reserve the right to refuse to process the transaction, cancel or reverse any transaction or not provide access to the user's deposit address on the Platform. The Platform provides deposit accounts for trading using the Service, and the Platform does not allow users to use such accounts as online wallets or address change services. We reserve the right to stop top-up activities at our sole discretion. Although the Platform may cancel transactions at its sole discretion, users cannot change, withdraw or cancel their transaction authorization unless it involves partially executed orders.
If an error occurs when processing your purchase or other operations, we may correct, reverse or cancel any transaction affected by it. In the event of an error, your remedies are limited. You may request to cancel an order or a refund of any amount charged to you, but we cannot guarantee that the cancellation or refund will be successful in all cases.
We provide users with a platform to match their orders with other users' orders. Depending on the trading activity at the time of the order, an order may be partially executed or fully executed with multiple orders. Under the relationship defined in this Agreement, the Platform is only your trading platform provider and not the principal or counterparty to transactions conducted on the Platform.
Notwithstanding the above, (i) the Platform may act as a counterparty to some transactions, such as to clear fees collected from user transactions, and (ii) the Platform's affiliates may execute transactions on the Platform, but such affiliates do not enjoy any priority in the execution of transactions.
Digital assets available for purchase through the Service may experience high or low trading volume, high or low liquidity, and high or low volatility at any time and for a period of time. You acknowledge that while we use commercially reasonable methods to provide you with exchange rate information through our Service, the exchange rate information we provide may differ from the prevailing exchange rates provided by third parties. Similarly, depending on the trading speed of the digital assets involved in your transaction, the actual market exchange rate at the time of your transaction may differ from the prevailing exchange rate shown. You agree that you will bear all risks and potential losses associated with price fluctuations or differences between the actual exchange rate and the indicated exchange rate.
22. Ownership of Digital Assets
You hereby represent and warrant to us that you own any digital assets used in the Service or you are validly authorized to use such digital assets for transactions, and all transactions initiated with your account are conducted for your own account and not on behalf of any other person or entity. For the avoidance of doubt, the Platform does not have ownership of any digital assets held by users on the Platform.
23. Taxation
You can view transaction records through your account, and you may wish to use such transaction records for any necessary tax reporting or payment. You are responsible for determining whether any taxes apply to the payments you send or receive, and for collecting, reporting and paying the appropriate taxes to the relevant tax authorities. We will withhold or report taxes as required by law, but we are not responsible for determining whether taxes apply to your transactions, or for collecting, reporting or paying any taxes arising from transactions.
24. Indemnification; Release
You agree to indemnify and hold harmless the Platform, its affiliates, service providers, and the officers, managers, agents, joint ventures, employees and representatives of the above three parties from any claims or demands (including attorney fees and losses, fines, expenses or penalties imposed by any regulatory agency) arising from your violation of this Agreement or any law or regulation.
In this section, "Losses" means all net expenses reasonably incurred by us or others mentioned in this section in connection with the matters described in this section, and such expenses may be related to any claims, demands, causes of action, debts, costs, expenses or other liabilities, including reasonable legal fees (not duplicative of the foregoing).
"Indemnification" means compensation for damages or losses that someone may suffer. If you violate this Agreement or any law and cause the Platform to face claims or expenses, you agree to make up for such losses.
If you have a dispute with one or more users or third parties, you will release the Platform (and its affiliates and service providers, and their respective officers, managers, agents, joint ventures, employees and representatives) from any and all claims, demands and damages (actual and consequential) of any type and nature arising out of or in any way related to such disputes. If you have a dispute with anyone other than the Platform, you will release us from liability related to that dispute.
25. Limitation of Liability; Disclaimer of Warranties
You expressly understand and agree that the Platform, its affiliates and service providers, and their respective officers, officers, agents, joint ventures, employees and representatives shall not be liable for any indirect, incidental, special, consequential, exemplary damages or damages for loss of profits, including but not limited to loss of goodwill, use, data or other intangible losses (even if Storm has been advised of the possibility of such damages), whether based on breach of contract, tort, negligence, strict liability or otherwise, resulting from: (i) the use or the inability to use the Service; (ii) any goods, data, information, services purchased or obtained or messages received or transactions entered into through or from the Service, the cost of procurement of substitute goods and services; (iii) unauthorized access to or alteration of your transmissions or data; or (iv) any other matter related to the Service.
We will not be liable for "exemplary damages" (commonly known as punitive damages) or other indirect losses.
Because some jurisdictions prohibit the disclaimer of certain warranties or the limitation or exclusion of liability for incidental or consequential damages, some of the above limitations may not apply to you. If you are dissatisfied with any part of the Service or this Agreement, your sole remedy is to stop using the Service and close your account. The Service is provided "as is" without any express or implied description or warranty. The Platform, its affiliates, and their respective officers, managers, agents, joint ventures, employees and suppliersAny implied warranties of title, merchantability, fitness for a particular purpose or non-infringement are expressly disclaimed. The Platform makes no warranty that (i) the Service will meet your requirements, (ii) the Service will remain uninterrupted, timely, secure or error-free, (iii) it will be available or licensed in all jurisdictions, or (iv) the quality of any products, services, information or other material purchased or obtained by you will meet your expectations.
We cannot guarantee that our Service will always meet your requirements. As the Platform develops, we may add new services, adjust certain features and abandon old features. We hope that you will always be satisfied with our Service, but we cannot guarantee this in the Agreement.
Because some jurisdictions prohibit the disclaimer of implied warranties, the above disclaimer may not apply to you. This paragraph gives you specific legal rights, and you may also have other legal rights that vary from jurisdiction to jurisdiction.
26. Force Majeure
The Platform shall not be liable for any failure or delay caused by any unusual or unforeseeable circumstances beyond our reasonable control, including but not limited to delays or failures caused by governmental actions or terrorist acts, earthquakes, fires, floods or other natural disasters, labor conditions, other system or network problems, mechanical failures or data processing failures, or circumstances where we are subject to other legal obligations and where, despite our efforts, we cannot avoid their consequences.
27. Governing Law; Region
This Agreement shall be governed by the laws of the Republic of Panama. Any claim or action arising out of or related to the services agreed in this Agreement shall be governed, interpreted and enforced in accordance with the laws of the Republic of Panama. The parties hereby agree to submit to the personal and exclusive jurisdiction of the courts located in the Republic of Panama.
28. Agreement Amendment
We may modify any part of this Agreement at any time by posting the revised Agreement and updating the revision date. After the first posting of the revised Agreement, the revised Agreement will take effect when you first use the Service and will be deemed to have accepted the revised Agreement. Transactions conducted after the date of posting of the revised Agreement will be subject to the revised Agreement. If you disagree with any modification, your only remedy is to terminate your use of the Service and close your account. You agree that we will not be liable to you or any third party for any losses resulting from the modification of this Agreement. If there are material changes in the revised Agreement, we will notify you before the changes take effect. For purposes of this document, "material changes" do not include (1) changes that benefit you; (2) changes made to comply with applicable laws and/or regulations; (3) changes related to new products or services provided to you; or (4) changes made to clarify existing terms.
As we develop and provide new features, new products, and new services, we may need to modify this Agreement. If there are major changes, we will notify you by email. There is a "Last Modified" date at the top of this Agreement to let you know when this Agreement was last modified.
29. Assignment
You may not assign or transfer this Agreement or any rights or obligations under this Agreement without our prior written consent or otherwise, and any such assignment will be void. We reserve the right to freely assign or transfer this Agreement and the rights and obligations under this Agreement to any third party at any time without notice or consent. If you object to our assignment or transfer, you may terminate this Agreement by stopping using our services, contacting customer service and requesting customer service to close your account.
30. Survival
If your account or this Agreement is terminated for any other reason, all rights and obligations of the parties that by their nature would continue to exist after the termination of the account or this Agreement will continue to exist.
31. Third-party applications
If you explicitly authorize a third party to connect to your account through a third-party product or this platform, you understand that allowing a third party to take specific actions on your behalf does not relieve you of any liability under this Agreement. In addition, you understand and agree that if a third party takes action or does not take action in response to the authorization you have given, you will not hold this platform responsible and will indemnify this platform.
32. Website; Third-party content
This platform strives to provide accurate and reliable information and content on the website and app, but cannot guarantee that such information is correct, complete, and up-to-date. This platform will update the information on the website and app as needed to provide you with the latest information, but you should always verify such information yourself. The Website and App may contain links to third-party websites, applications, activities or other materials ("Third-Party Content"). We provide such information for your convenience. Whether providing links to Third-Party Content or mentioning Third-Party Content, this platform does not endorse any related products or services. If you act on the information on the Website, App or any Third-Party Content and suffer losses, this platform will not be responsible for such losses.
We may post useful links or articles on the Website or App from time to time, but you still need to investigate the sources of such information yourself.
33. Limited License; Intellectual Property
We grant you a limited, non-exclusive license to access and use the Services. This license is not transferable, non-re-licensable, and is subject to the terms and conditions of this Agreement. The Services may only be used for the purposes approved by this platform. Any other use of the Services is strictly prohibited. This platform and its licensors reserve all rights in the Services. You agree that this Agreement does not grant you any rights or licenses to our Services, except for the limited license listed above. Unless expressly authorized by the Platform, you agree not to modify, reverse engineer, copy, extract, destroy, rent, loan, sell, distribute all or part of our Services, or create derivative works based on them. If you violate any of the terms of this Agreement, your license to use the Services may be terminated in accordance with this Agreement. Storm and all service-related icons are trademarks or registered marks of the Platform or its licensors. You may not copy, imitate or use the above content without the prior written consent of the Platform. The rights, title and interests in the following content are the exclusive property of the Platform and its licensors: this website, all content on the website, Storm services, apps, and all technology and content created and derived from the foregoing content.
We allow you to use our products and services, but we still own the intellectual property rights to these products and services.
34. Unclaimed Property
If the Platform holds funds in your account and cannot contact you, and records show that you have not used the service for a long time, the relevant laws may require the Platform to report these funds as unclaimed property to the relevant jurisdiction. Storm reserves the right to deduct inactivity fees or other administrative fees from such unclaimed funds as permitted by relevant laws.
Under applicable laws, if you do not log in to your account for a long period of time and we are unable to contact you, we may be obliged to deem your account abandoned and transfer your account balance in accordance with applicable laws.
35. Death of Account Holder
If we receive legal documents proving that you are dead, or receive other information that leads us to believe that you are dead, we will freeze your account and no transactions will be completed during this period. To complete transactions, (1) a new account will be opened by a trustee designated by you in the manner described below and all contents of your account will be transferred to the new account, or (2) we receive evidence that convinces us that you are not dead. If we have reason to believe that you may be dead but have no evidence to prove that you are dead, you agree to authorize us to conduct the necessary investigation directly or through a third party to determine whether you are dead. Once we have sufficient evidence to prove that you are dead, we will require the trustee designated by you in a valid will or similar will document to open a new account. If you do not designate a trustee, we reserve the right to deem the person who inherits your account as the trustee. We will determine in our sole discretion what documents are necessary or appropriate in this process and make such determinations upon receipt and review of relevant documents, including (but not limited to) a will, living trust or other similar document; or request an order from a court with jurisdiction over your estate to appoint a trustee. If, in our sole discretion, we believe that there is uncertainty as to the validity of the trustee's appointment, we will have the right to request an order from a court with jurisdiction to resolve the issue before taking any action with respect to your account. Subject to the foregoing, upon the death of the account owner, the designated trustee must open a new account. You agree to request your trustee to open a new account and provide the relevant information in accordance with Section 3 of this Agreement to access the contents of your account.
36. Legal Compliance
The Service is subject to all relevant export control restrictions, and your use of the Service represents that your actions do not violate such export control restrictions. In addition, you may not use the Service if: (1) you are a resident, citizen, or agent of Crimea, Democratic Republic of the Congo, Iran, Iraq, Libya, Mali, North Korea, Palestine, Syrian Arab Republic, Somalia, Sudan, Zimbabwe, Afghanistan, Cote d'Ivoire, Yemen, Myanmar, Mainland China (excluding Hong Kong, Macau, and Taiwan), Cuba, the United States and all its territories, including countries subject to U.S., UK, or EU embargoes or other similar sanctions (the "Restricted Territories"); (2) you are listed on any blacklist or similar content by the U.S., UK, or EU government (the "Restricted Type Investor"); (3) you intend to trade with any "Restricted Territory" or "Restricted Type Investor". You represent and warrant that you are not listed on any trade ban or economic sanctions list (such as the United Nations Security Council Sanctions List), the Specially Designated Nationals and Individuals List under the Magnitsky Act, the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) list, or the U.S. Department of Commerce's Denied Persons or Entity List.
We reserve the right to block any other jurisdiction at any time in our sole discretion.
37. Entire Agreement; Third Party Rights; Relationship of the Parties
The failure of the Platform to exercise or enforce any right or provision of this Agreement shall not constitute a waiver of such right or provision. If any court of competent jurisdiction holds any provision of this Agreement to be unenforceable or invalid, such provision shall be limited or eliminated to the minimum extent necessary to ensure that this Agreement remains in full force and effect and enforceable.
The headings and explanatory text in this Agreement are for reference purposes only and do not define, limit, explain or describe the scope or extent of the relevant sections. The entire agreement between you and the Platform with respect to the use of the Services consists of this Agreement, the Storm policies related to the Services referenced in this Agreement, the Privacy Policy, the Cookie Policy and the Electronic Signature Consent.
This Agreement is intended only to establish rights or remedies for you, Storm, and Storm’s affiliates and does not apply to, and shall not be construed to apply to, any other party. You, Storm, and all Storm affiliates are third-party beneficiaries of this Agreement, and no other person may assert any rights under this Agreement as a third-party beneficiary. If a court holds any particular provision of this Agreement to be unenforceable, the remainder of this Agreement will remain in effect.
The Platform is at all times an independent contractor. Nothing in this Agreement shall be deemed to be an admission or cause you and the Platform to become partners, joint ventures, joint profit companies, or agents of either party.
38. Effectiveness and Interpretation of the Agreement
This Agreement shall come into effect when you click on the "Agree to Register" button on the registration page of this Website and complete the registration process and obtain the account and password of this Website, and shall be binding on both this Website and you. Storm reserves the right of final interpretation of this Agreement.
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