HUBFX/YUAN Terms

HUBFX/YUAN CAPITAL LTD Terms of Use

Effective from 24 August 2022.

These Terms of Use, including the Schedules, govern your use of the services provided by HUBFX and constitute the legal relationship between you and us.
You are also advised to print or download and keep a copy of the Terms of Use (including the Definitions – Terms of Use and other terms and conditions referred to herein) for future reference.
BY USING ANY OF OUR SERVICES DESCRIBED IN THESE TERMS OF USE, YOU ARE AGREEING TO BE BOUND BY THESE TERMS OF USE. PLEASE DO NOT USE ANY OF OUR SERVICES IF YOU DO NOT ACCEPT THESE TERMS OF USE. THESE TERMS OF USE ARE A LEGALLY BINDING AGREEMENT BETWEEN YOU AND US AND IT IS IMPORTANT THAT YOU TAKE THE TIME TO READ THEM CAREFULLY.

Terms of Use for our Website

The Service (hereinafter defined) is offered to you on condition that you accept all the terms contained herein, without modification or reservation of any of the terms and conditions.

For the purpose of this Terms of Use, “Service” shall mean and include, access to or use of all, any, or some of the following: HTML code, literature, information, software, products, or services provided or available on info@hubfx.co

Service

The Service is deemed to be in use when it is loaded in temporary or permanent memory of your computer.

Your registration obligations

In consideration of your use of the Service, you agree to:

  1. Google Analytics; and
    2. provide true, accurate, current and complete information about yourself and your company, if any, and all other information as prompted by the Service’s registration form (such information being the “Registration Data”) and maintain and promptly update the Registration Data to keep it true, accurate, current and complete.

If you provide any information that is untrue, inaccurate, not current or incomplete, or we have reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, we have the right to suspend or terminate the Service (or any portion thereof).

Limits on use

You agree to use the Service strictly for personal, corporate, internal and non-commercial use. You may download, retrieve and display the Service from the Web site on the computer screen, print individual pages on paper, photocopy and store such pages in an electronic form on disk, provided all the intellectual property in the Service continues to vest with us (but not on any server or other storage device connected to a network).

You shall not:

1) Reverse engineer, decompile, disassemble, copy, reproduce, distribute, modify, transmit, perform, reproduce, publish or create derivative works from or in any way exploit any of the Service in violation of this Terms of Use or the laws of any country.
2) Redistribute the Service (including by using it as a part of any library, archive or similar device) create a database in electronic or structured manual form by systematically downloading and storing all or any of the Service.
3) Rent, lease, sell, sublicense, or lend your access to the Service.
4) Cache or permit caching by any person.
5) Do any act that violates our intellectual property in the Service.
6) Engage in any fraudulent, abusive or illegal activity, including but not limited to any communication or solicitation designed or intended to fraudulently obtain the password or any private information of any user.
7) Use the Web site or Service to violate the security of any computer network, crack pass words or security encryption codes, transfer or store illegal material including threatening or obscene material or engage in any kind of illegal activity.
8) Run mail list or any form of auto-responder, or Spam on our Web site or any processes that are run or are activated while you are not logged on.

Access restriction

We reserve the right to deny to you, at our sole discretion, access to the Service including or any portion thereof without any prior notice.

Intellectual property

We grant you the right to use the Service in accordance with these terms and conditions, and for no other purpose. Please note that the elements of the Web site including all parts of the Service (“Intellectual Property”) is owned by us and/or our suppliers and is protected by copyright and trademark laws, international treaty provisions, and this Terms of Use.

Any reproduction, reverse engineering, decompiling, disassembling, modification, copying, distribution, transmission, display, publishing, sublicensing, creation of derivative works from, transferring or redistribution of the Service is expressly prohibited by law, and may result in severe civil and criminal penalties.

We shall be entitled to obtain equitable relief (including all damage, direct, indirect, consequential and exemplary), over and above all other remedies available to us, to protect our interests therein. Violators will be prosecuted to the maximum extent possible.

The Service is licensed to you, not sold. We own the Service, its application and the intellectual property connected with the Service.

Links to third-party websites

This Web site may contain links to Web sites operated by parties other than us. The links in this Web site will let you leave info@hubfx.co. Your use of such Web site is also subject to the terms of use and other terms and guidelines, if any, contained within each such Web site. In the event that any of the terms contained herein conflict with the terms of use or other terms and guidelines contained within any such Web site, then the terms of use and other terms and guidelines for such Web site shall prevail.

You agree to click on the links to, and familiarise with, the terms of use and other terms found throughout this Web site and sites to which this Web site has links to, and abide by them.

The linked Web sites are not under our control and we are not responsible for the contents of any linked Web site or any link contained in a linked Web site, or any changes or updates to such Web sites. We are providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement by us of the Web site.

Our Web site may contain advertising and sponsorship. We will not be responsible for an error or inaccuracy in the advertising or promotional material.

Disclaimer of warranties

You agree that use of the Service is at your sole risk. The Service is provided on an “as is” and “as available” basis.

Except as warranted in this Terms of Use, we expressly disclaim all warranties of any kind, whether express or implied or statutory, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose, data accuracy & completeness, and any warranties relating to non-infringement in the Service.

We shall be not responsible or liable for the authenticity, accuracy, completeness, errors, omission, typographic errors, disruption, delay, interruption, failure, deletion, defect of any information, research, reports, analysis, quotes etc in this Web site or any part thereof.

We shall not incur any liability direct or indirect, to you or any third party, as a consequence of non-functioning of any equipment belonging to you, any third party or us. We shall not be responsible for any downtime of such equipment.

We make no warranty that the Service will meet your requirements. The Service is for your general information and is not intended to address your specific requirements. The Service does not render any form of advice and is not intended to be relied on by you in making any investments or decisions.

We do not warrant that the Service will be uninterrupted, timely, secure, or error free; nor do we make any warranty as to the results that may be obtained from the use of the Service or as to the accuracy or reliability of the Service. We clarify that there is no warranty of title, authority or non-infringement in the Service.

We make no representations or warranties, either express or implied that the research, development, marketing, distribution, use or sale of the Service will not infringe any patent, copyright or other right of any third party.

We make no warranty regarding the Service obtained or purchased through or from the Service or any transactions entered into through the Service. No advice or information, whether oral or written, obtained by you from the, or through, or from, the Service or any person shall create any warranty not expressly stated herein.

We shall not be liable for any action taken by you based on or relying on the information provided in or by the Service. We will not be liable for any virus that may enter your system as a result of you using the Service.

We make no guarantees to you or third parties that the Service would be virus free. We will not be liable for any direct, incidental or consequential loss, which may be caused to you as a result of your use of the Service.

Limitation of liability

You agree that HUBFX, any subsidiary or parent entities, our employees, directors etc., shall not be liable for any direct, indirect, incidental, special or consequential damages, (including, but not limited to, damages caused by any virus, personal injury, loss of profits, data or other intangible, business interruption, loss of privacy, or any other pecuniary loss) resulting from the use/delivery/performance or the inability to use/deliver/perform the Service or for cost of procurement of substitute goods and repair & correction services or resulting from the Service subscribed to or obtained or messages received or transactions entered into through or from the Service or resulting from unauthorised access to or alteration of your transmissions or data, even if we have been advised of the possibility of such damages.

You agree that we shall not be liable for any damages arising from interruption, suspension or termination of Service, including but not limited to direct, indirect, incidental, special, consequential or exemplary damages, whether such interruption, suspension or termination was justified or not, negligent or intentional, inadvertent or advertent.

In no event will our liability for any claim, whether in contract, tort, or any other theory of liability, exceed one GBP.

You also agree that your sole remedy under this Terms of Use is cancellation of the Service.

Termination

If you violate any term or we have grounds to believe that you have violated any term of this Terms of Use, we may terminate this Terms of Use without waiving any other rights. If this Terms of Use is terminated, you will be denied access to the Service or any part thereof. We shall not refund the subscription fee or any part thereof, if the access is denied or this Terms of Use is terminated for any of the reasons mentioned above.

Governing law and jurisdiction

This Terms of Use is governed by the laws of the England and Wales in the United Kingdom (UK). You consent to the exclusive jurisdiction and venue of courts in England in all disputes arising out of or relating to the use of this Web site or Service.

Use of this Web site is unauthorised in any jurisdiction that does not give effect to all provisions of this Terms of Use, including without limitation, this paragraph.

General

We reserve the right to change, without notice, the terms and conditions under which the Service is offered. You are responsible for regularly reviewing the Terms of Use.

You agree that no joint venture, partnership, employment, or agency relationship exists between us as a result of this Terms of Use or use of this Web site.

If any part of this Terms of Use is determined to be invalid or unenforceable pursuant to applicable law including, but not limited to, the warranty disclaimers and liability limitations set forth above, then the invalid or unenforceable provision will be deemed superseded by a valid, enforceable provision that most closely matches the intent of the original provision and the remainder of the Terms of Use shall continue in effect.

This Terms of Use constitutes the entire agreement between us with respect to this Web site and Service and it supersedes all prior or contemporaneous communications and proposals, whether electronic, oral or written, between us with respect to this Web site and Service.

Contact us

If you have any questions you may contact us at:
Email: info@hubfx.co
Writing: HUBFX, 7 Bell Yard, London, WC2A 2JR, United Kingdom
Phone: +44(0)20 81338 988

HUBFX Accout Terms and Conditions

Definitions

“Affiliates” means, in relation to an entity, any person or entity Controlling, Controlled by or under common Control with such entity. An entity is deemed included within the meaning of “Affiliate” even if itqualifies as such after these Terms have been agreed to by a Client;
“Authorised Person” means any person authorised by you to give us instructions in relation to the Global Account and/or Payment Services – Global Account and/or to conclude Orders on your behalf. A Business Introducer shall be an Authorised Person unless you have agreed otherwise;
“Business Day” means any day other than a Saturday or a Sunday or a public or bank holiday in England;
“Business Introducer” means the person with which we have entered into a Business Introducer Agreement. This person markets and promotes the Services, and unless you have agreed otherwise will act as an Authorised Person;
“Client” means the person who is contracting with us for the provision of the Services;
“Client Help Centre” means the information which is available by contacting us on hubfx.co/contact. If
applicable, the Client Help Centre may be available to you online through a website provided by your
Business Introducer.
“Client Support” means our client support service which is available by calling our help desk at +44 208 1338988 during UK office hours to speak with a support representative or by sending an email to support@hubfx.co;
“Close Out” means any action we may take to close out, cover or reduce our exposure in relation to the relevant Contract including any action we reasonably consider appropriate in the circumstances;
“Commercial Agreement” means the agreement between you (or your Business Introducer, if applicable) and us setting out the commercial terms for the provision of one or more of the Services. In the event that you have been introduced to us by a Business Introducer, then the Commercial Agreement shall be the commercial agreement between us and the Business Introducer;
“Confidential Information” means confidential information of the other party concerning the other
party’s business, plans, customers, clients, technology, services and products and other information held in confidence by the other party including all information in tangible or intangible form that is marked or designated as confidential or that, under the circumstances of its disclosure, should be
considered confidential. Our Confidential Information will include, but not be limited to, the HUBFX Technology, and your Confidential Information will include, but not be limited to End Customer data and Personal Data. Information will not be deemed Confidential Information if such
information: (i) is known to the receiving party prior to receipt from the disclosing party directly or indirectly from a source other than one having an obligation of confidentiality to the disclosing party; (ii) becomes known (independently of disclosure by the disclosing party) to the receiving party directly or indirectly from a source other than one having an obligation of confidentiality to the disclosing party; (iii) becomes publicly known or otherwise ceases to be secret or confidential, except through a breach of these Terms of Use by the receiving party; or (iv) is independently developed by the receiving party. The receiving party may disclose Confidential Information pursuant to the requirements of a governmental agency or by operation of law, provided that it gives the disclosing
party reasonable prior written notice sufficient to permit the disclosing party to contest such disclosure and it is not itself unlawful to give such notice;
“Consumer” means (a) an individual who, in contracts for payment services to which the PSRs 2017 apply, is acting for purposes other than a trade, business or profession; (b) an enterprise which, at the time at which the contract for payment services is entered into, is an enterprise as defined in Article 1 and Article 2(1) and (3) of the Annex to Recommendation 2003/361/EC of 6th May 2003 concerning the definition of micro, small and medium-sized enterprise; and (c) a body whose annual income is
less than £1 million and is (i) in England and Wales, a charity as defined by section 1(1) of the Charities
Act 2011; (ii) in Scotland, a charity as defined by section 106 of the Charities and Trustee Investment
(Scotland) Act 2005; or (iii) in Northern Ireland, a charity as defined by section 1(1) of the Charities Act
(Northern Ireland) 2008;
“Contracts” means any one or more of the agreements between you and us for the sale, purchase, and delivery of currency;
“Control” of an entity means the power, direct or indirect, to direct or cause the direction of the management and policies of such entity, whether by contract or otherwise, and in any event and without limitation of the foregoing, any entity owning more than 20% of the voting securities of a second entity shall be deemed to control that second entity. Derivative forms of the term “Control” (e.g. Controlling and Controlled by) have corresponding meanings;
“Currency Cloud Group” means The Currency Cloud Group Limited, HUBFX’s provider, and its Affiliates from time to time.
“Currencycloud” means The Currency Cloud Limited, a company incorporated under the laws of England and Wales with a registered office at 12 Steward St, London E1 6FQ with registration number 06323311 and authorised and regulated by the Financial Conduct Authority (FRN: 900199);
“Currencycloud Direct” means the user interface on the Website where you can access our Services;
“Data Controller” has the meaning set out in the Data Protection Legislation (or, in respect of the GDPR, means the same as “controller” in Article 4 of GDPR).
“Data Processor” has the meaning set out in the Data Protection Legislation (or, in respect of the GDPR, means the same as “processor” in Article 4 of GDPR);
“Data Protection Legislation” means (in each case as such are updated, amended or replaced from time to time): (a) the UK Data Protection Act 2018 (as amended or replaced from time to time), (b) from its effective date (25 May 2018), the Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 (General Data Protection Regulation) (the “GDPR”), and any laws or
regulations ratifying, implementing, adopting, supplementing or replacing GDPR (including the UK
Data Protection Act 2018), in each case, to the extent in force; and (c) any other relevant data protection legislation in any jurisdiction which is applicable to the Services, including but not limited to the Privacy and Electronic Communications (EC Directive) Regulations 2003.
“Data Subject” means an individual who is the subject of Personal Data;
“Delivery Date” means the date on which we will deliver currency that has been purchased by you,
provided you have fully paid for the purchased funds and complied with these Terms of Use. The Delivery Date must be a Business Day;
“DP Regulator” means any governmental or regulatory body or authority with responsibility for
monitoring or enforcing compliance with the Data Protection Legislation;
“Durable Medium” means a medium which allows you to store information in a way accessible for future reference for a period of time adequate for the purposes of the information and which allows the unchanged reproduction of the information stored;
“End Customer” means any person other than us who contracts with you, including without limitation
any client you engage in connection with the Platform Services;
“Fees” shall mean the charges payable by you to us for the Services as set out in these Terms of Use and our Commercial Agreement with you, or payable by the Business Introducer to us pursuant to our
Commercial Agreement with the Business Introducer, if applicable;
“FCA” means the Financial Conduct Authority of the United Kingdom whose address is 25 The North
Colonnade, Canary Wharf, London E14 5HS, United Kingdom; further information on the FCA can be
obtained on the FCA’s website at www.fca.org.uk;
“Foreign Exchange Services” means the foreign exchange services provided by HUBFX including quoting and execution of foreign exchange contracts to sell and buy currency for any date up to
12 months;
“Forward Contract” means any one or more Contracts under which currency is bought and sold for delivery at a fixed future time which is at least 7 days (or longer) after the contract is entered into;
“Global Account” means the electronic money account you open and maintain with HUBFX,
also referred to from time to time as Primary Account and/or Named Account;
“Group Companies” means in relation to a company those companies which are subsidiaries, holding
companies or subsidiaries of any holding company of such company, where the terms “subsidiary” and
“holding company” bear the meaning given to them in section 1159 of the Companies Act 2006;
“HUBFX” means us;
“HUBFX WEBAPP” means the user interface on the Website where you can access our Services;
“Insolvency Event” means in relation to either party: If such party becomes insolvent or a bankruptcy
petition is presented against any such person or any steps are taken to appoint an administrator, judicial factor or similar officer to any such party or to commence the winding up or dissolution of any such party or to otherwise apply to the court for a moratorium or make a proposal to creditors for a
voluntary arrangement or any such party grants a trust deed for creditors or takes any action with a view to the readjustment, rescheduling forgiveness or deferral of any part of any such party’s indebtedness or any such person enters into any arrangement, compromise or composition with or assignment for the benefit of its creditors or any class of them (except for the purposes of a solvent reconstruction or amalgamation), or a receiver, receiver and manager, or other controller, administrator or similar officer to be appointed with respect to, or takes control of, the assets or undertakings of any such party;
“Losses” means all losses, liabilities, fines, charges, damages, actions, costs and expenses, professional
fees (including legal fees actually incurred) and disbursements and costs of investigation, litigation,
settlement, judgment, interest and penalties;
“Margin” means collateral paid by you to us, including additional margin and increased margin;
“Order” means the accepted commercial terms of a Contract (which will incorporate these Terms of Use);
“Payer” means a third party that sends funds to us on your and/or your End Customer’s behalf.
“Payment Platform” means the HUBFX online Payment Platform that provides the functionality and connectivity via the API or HUBFX WEBAPP;
“Payment Services – Global Account” means the emoney and payment services provided by HUBFX to you including the receipt and holding of funds in the Global Account and execution of payment services or transactions on your behalf;
“Personal Data” has the meaning given to it by the Data Protection Legislation;
“Platform Services” means the access to information and market data via the Payment Platform provided by us to amongst other things, facilitate the booking and management of payments, track trades and report on balances and transactions on your Global Account;
“Regulations” means the Electronic Money Regulations 2011 and the Payment Services Regulations 2017 as (as amended and replaced from time to time);
“Services” means the Payment Services – Global Account, Foreign Exchange Service, EUR Collection
Service, GBP Collection Service, CAD Collection Service, SWIFT Collection Service, Spark Service
and Platform Services provided by HUBFX to you as described in these Terms of Use and on the
Client Help Centre;
“Settlement Date and Time” means the date and time specified within the Contract, by which funds must be received by or available to HUBFX;
“UK Business Hours” means Monday through Friday 9:00 am to 5:00 pm;
“Website” means the website available at www.hubfx.co;
“Terms of Use” means these terms and conditions including the schedules and any other terms and
conditions referred to herein, the Privacy Policy, the Cookies Policy, and the Client Help Centre all as
amended from time to time;
“We”, “us”, or “our” means HUBFX; and
“You” or “your” means you, the person who is contracting with us for the provision of the Services.

  1. Registration

Before HUBFX can perform any of Our Services for the customer, they must register with us and properly complete our registration process. In accordance with our legislative and regulatory obligations the customer must provide us with sufficient information to enable us to satisfy ourselves as to their identity. Such information may contain but not be limited to electronic identification and/or the provision of copies of photographic identification and copies of documentation verifying the customer address.

Once the customer has registered with HUBFX they will be provided with a customer account number that the customer must use in all correspondence with us.

At registration you will confirm any individuals to be classified as an authorised individual, an individual with the authority to agree trades with HUBFX.

Where authorised individuals change it is your responsibility to inform HUBFX of this change. It is your responsibility to inform us where there is a change in your circumstances including but not limited to a change in directors, shareholders or business operations.

  1. Booking a Trade

The customer will book a trade with us which can be confirmed either over the phone, electronically or in writing. Once the trade is booked it is legally binding. HUBFX will provide services in line with our Terms and Conditions.

When booking a trade, we will:
• Tell the customer what the Value Date will be.
• Provide the customer with a unique identifier code for the trade.
• Tell the customer what amount we require from them, together with the date and time by which we must be in receipt of that amount in full in cleared funds.
• Advise the customer the information we require from them in order to make the payment. In all cases this is likely to include as a minimum:
o Payee Bank Account Name
o Payee Bank Name
o Payee Account Number/IBAN
o Payee SWIFT Code/Bank Code
o Any Associated References
• Use the contact information provided to us, including to verify any transaction, to check the customer’s identity or to notify them of any requirement for an Additional Margin.

HUBFX staff may provide information and context in relation to the markets in which we operate, however this does not constitute specific advice in relation to entering into a trade, which is done at your discretion. HUBFX are authorised by you to take reasonable actions to provide the agreed services.

  1. Payment

We will require full payment from the customer on the specified value date. Payment instructions can only be actioned once the full value of the funds have been received.

Any payment order received after the end of a Business Day will be considered to have been received the following Business Day.

3.1 Forward Trade

On the Order Date the Customer will immediately pay cleared funds into the Specified Account a Margin of 10% (unless otherwise agreed) of the full amount of the due amount. The Customer shall pay cleared funds equal to the outstanding balance of the due amount into the Specified Account not later than the Value Date.

HUBFX retain the right to require additional margin on demand. Where this is the case, you will receive a written request from your trader including the value of additional margin required and the date it is required to be received. This additional margin must be received within the timeline set out within this communication.

Where Margin is provided, this is considered as a down payment in relation to a future payment and as such is not considered client funds for the purpose of safeguarding.

3.2 Spot Trade

The Customer shall pay cleared funds into the Specified Account for the full amount of the Due Amount not later than the Value Date.

  1. Execution of Transfer

The Payment will be executed when:
• we are in receipt of your onward payment instructions by the Value Date and time we specify, as soon as practicable after the Value Date (or, if the Value Date is not a Business Day, as soon as practicable after the first Business Day following the Value Date); or
• if we are not in receipt of your onward payment instructions by the Value Date and time we specify, as soon as practicable after we have received your onward payment instructions.

HUBFX cannot proceed with execution of a payment without complete payment information. Where there is a delay by you to provide this information, HUBFX take no responsibility for this delay.

When executing the payment HUBFX will:
• Transfer funds to the customers specified account on the agreed value date.
• Provide the customer with details of the payment to allow the customer to trace it.
• Advise the customer of any issues with the transfer as soon as we reasonably become aware of them.

The agreed exchange rate incorporates all of our charges. This means that, except where expressly agreed otherwise, we will not charge the Customer any fees for the Service.

Please be aware that funds can take up to five working days for funds to clear and the receiving bank may deduct charges. The customer should refer to their bank for further information. HUBFX cannot make guarantees for payment timeframes.

  1. Duration and Termination of Contract

Once agreed, the customer does not have the right to alter or close out of the trade. All currency is purchased on behalf of the Customer at the time of order and as any such termination may lead to loss or liability.

Without liability or notice to the Customer, we may close out all or part of a trade in the following events:
• The customer fails to pay any amounts due as described in these Terms and Conditions.
• It becomes unlawful to carry out this trade.
• HUBFX assess it has become necessary to do so at our discretion.

Where there are no agreed outstanding trades, you may request the closure of your account which will be actioned within 5 business days. This closure request should be in writing to your Dealer. Where there is an outstanding trade, your account cannot be closed by you. Where we close an account resulting in an additional cost to HUBFX we retain the right to charge you for this expense.

Additionally, HUBFX retain the right to terminate this agreement immediately where it is assessed:
• Your activity is illegal or fraudulent.
• You breach this Agreement.
• We are unable to verify you as a client or your transactions in line with our legislative obligations.
• Required to do so by a legal authority, regulator or service provider or to fulfil our legal or regulatory obligations.
• Continuing to offer services could constitute reputational damage.
• A change on circumstance in either party has affected our ability to continue services.

  1. Our obligations

In accordance with our obligations under the Payment Services Regulations (the Regulations) we must inform the customer of certain important rights:
• Once a Trade is completed, we cannot retain the proceeds unduly and we will send them to the customers Nominated Account as soon as practicable after the Value Date.
• Money transfers are governed by the Regulations where the destination of the funds and the recipient of those funds is located with the EEA and where the funds are in a currency of an EEA state.
• Funds received by HUBFX for the purpose of a payment service is considered safeguarded. As such these funds are held within a specific bank account for the purpose of safeguarding, and not comingled with the firms own funds.
• Further information on the Regulations can be found on the website of the Financial Conduct Authority (FCA) or by contacting our Compliance Officer through compliance@hubfx.co

  1. Confidentiality and Data Protection

HUBFX respect the privacy of the affairs of all our customers and always aim to treat customer information as confidential and to use customer information in confidence.

HUBFX will obtain and keep all relevant data from the customer in line with the Data Protection Act 2018 as set out within the HUBFX Privacy Policy.

We may disclose customer information if we are required to do so by law, by a court, by court order, to meet any statutory, legal or regulatory requirement on us, or by the police or any other law enforcement agency in connection with the prevention or detection of crime or to help combat fraud or money laundering.

The customer will provide all relevant information as requested. The customer guarantees that all information requested is accurate truthful and has been obtained in line with the data protection act.

  1. Use of HUBFX WEBAPP Platform

All registered clients may request access to the HUBFX WEBAPP platform. This platform allows users to agree trades and make payments online. All activities carried out on you HUBFX WEBAPP user account will be considered to be carried out by the registered user of the account.

You may authorise third parties to access HUBFX WEBAPP on your behalf with their own user account and you take responsibility for any actions undertaken by the third party.
HUBFX will provide you with information to allow you to set up and access your account via HUBFX WEBAPP. It is your responsibility to ensure this information provided to you is kept secure.

If you become aware of this information becoming compromised or lost, it is essential you notify HUBFX immediately. HUBFX are not liable for any loss resulting from the unauthorised use of the system.

HUBFX retain the right to suspend, limit or withdraw your access to the HUBFX WEBAPP system at any point at our discretion.

All intellectual property within the HUBFX WEBAPP system is the property of HUBFX and cannot be reproduced, distributed or replaced without explicit consent from HUBFX.

  1. Changes to Terms and Conditions

These Terms and Conditions may change periodically. Where these change HUBFX will provide at least two months’ written notice prior to the Terms and Conditions taking effect, unless the change is deemed to be to your benefit. This notice will inform you of the date the updated Terms and Conditions become live.

Where you object to the change in Terms and Conditions you may end your relationship with HUBFX and cease to utilise our services, following the completion of any outstanding trades and/or payment services. Unless you specifically object to these changes, you will be judged as accepting the updated Terms and Conditions.

 

Terms of Business Agreement

  1. Registration

The Customer shall provide all such Identification, information and documentation relating to its financial and business affairs, as is necessary to enable us to comply with the relevant legislation pertinent to the Service, including without limitation the Money Laundering Regulations in the UK.

We will provide the Customer with an account number which they will use in all, correspondence with us.

  1. Trade Booking

The customer will book a trade with us which can be confirmed either over the phone or in writing. Once the trade is booked it is legally binding.

Trade Confirmation confirming the details of each Order which will be sent either by facsimile, post or electronically and is conclusive evidence of the agreement between us and the Customer for the buying and selling of Currency.

The Trade Confirmation shall be deemed to have been delivered at the time when in the course of ordinary transmission it should have been delivered at the address or number to which it was sent.

In relation to Spot Contracts, the Customer must inform us of any errors or omissions in the Trade Confirmation within a reasonable time of its delivery. Failure to do so shall be evidence of its accuracy.

In relation to Forward Trades, the Customer must inform us of any errors or omissions in the Trade Confirmation within two Working Days of delivery of the Trade Confirmation. Failure to do so shall be evidence of its accuracy.

The exchange rate incorporates all of our charges. Except where expressly agreed otherwise, we will not charge other fees for this service.

  1. Payment

All funds to HUBFX must be send from a bank account in the same name as the customer. HUBFX cannot accept funds from accounts in a name outside your name.

Once received client funds are safeguarded. These funds are held in segregated customer accounts to be used solely in the provision of payment services for and on behalf of customers and are not co-mingled with the firm’s own funds and separate from the firm’s own funds in the event of administration.

For Spot Contracts, the Customer shall pay cleared funds into the Specified Account for the full amount of the due amount no later the Value Date.

For a Forward Trade, on the Order Date the Customer will immediately pay cleared funds into the Specified Account a Margin of 10% (unless otherwise agreed) of the full due amount or such other amount as we may specify. The Customer shall pay cleared funds equal to the outstanding balance of the due amount into the Specified Account not later the Value Date.

We shall not remit funds to the Customer in respect of any trade until it has received cleared funds into the Specified Account.

The customer acknowledges that the margin payment will be kept by us in the following circumstances:
• If the Customer is in breach of any of the Conditions
• The Customer becomes unable to pay its debts for any reason

Any monies or payments due from the Customer shall be paid in full and the Customer shall have no right to set off any sum in respect of any counterclaim, set off or other deduction of any nature.

We reserve the right to pass on to the customer any costs incurred for instructing third parties to assist with collecting losses and liabilities from the Customer.

The Company cannot accept cash or cheques, funds must be remitted electronically.

  1. Execution of Transfer

Subject to receipt of cleared funds into the Specified Account, we shall pay to the customer or shall credit the Purchased Currency Account, as the case may be, with the Currency Purchased.

We will pay into your Specified Account any funds on the agreed value date. NB It can take more than five days for funds to clear depending on local banking arrangements.

If the customer nominates a Purchased Currency Account it acknowledges and agrees that we shall have no responsibility for verifying the accuracy of the account details provided by the Customer.

Please be aware that the remittance of funds from us to the customer’s specified bank account may result in charges being applied by your bank. For details of any charges the customer should refer to their bank for further information.

  1. Duration and Termination of Contract

We reserve the right to close out part or all of the trade, without liability or notice, in the event of the following:
• The Customer fails to pay any amounts due as described in these Terms and Conditions.
• It becomes unlawful for us to maintain our obligations under current UK law.
• We have reason to believe it is necessary to do so.

For point (3) full written justification will be provided to the customer.

Once entered into, the Customer does not have the right to terminate the contract. All currency is purchased on behalf of the Customer at the time of order and as any such termination may lead to loss or liability.
In the event of the termination of the contract we will close out any trades not completed and inform the Customer of any loss or liability we have incurred. The Customer is responsible for such losses and liabilities and payment must be made to the Company on demand.

We reserve the right to use any such sum as may have provided by the Customer in respect of a margin to settle all or part of the loss or liability. In this case we will inform you of our intentions. After settlement of the loss or liability incurred we will return to the Customer any such sum as may be remaining.

  1. Our Obligations

In accordance with our obligations under the Payment Services Regulations (the Regulations) we must inform you of certain important rights:

As soon as we receive funds from the customer we will remit the purchased currency on the agreed value date without delay.

Currencies are subject to strict cut off times. Should we receive funds from you on the agreed value date but after the specified cut off, the purchased currency will be transferred the next business day.

Money transfers are governed by the Regulations where the destination of the funds and the recipient of those funds is located with the EEA and where the funds are in a currency of an EEA state.

Further information on the Regulations can be found on the website of the Financial Conduct Authority (FCA).

  1. The Customers Obligations

The customer is responsible for the completeness and accuracy of all information they provide or that any Authorised Person provides to us at any time, including Our Documentation, in their Request and their Nominated Account Details. They must always provide us with instructions, and procure that all Authorised Persons provides us with instructions, in the English Language.

The customer will notify us in writing as soon as they become, or any Authorised Person becomes, aware of any error in any details that have been provided to us or any error in connection with the Trade. The customer will also notify us in writing immediately if any circumstances occur that affect their ability to pay us for our Services.

  1. Security

The customer is responsible for ensuring that all passwords and other relevant information that may be used to access any part of our service is kept safe and secure. Details should not be disclosed to unauthorised third parties and should be transmitted using secure methods.

If the customer becomes aware of any loss, theft or misappropriation relating to the payment service provided, they should notify us immediately either in writing or over the phone.

You will be liable to us for all losses which we suffer or incur relating to any fraud or fraudulent activity by you at any time.

  1. Liability

We may be liable to you in the following circumstances:
• Unauthorised Money Transfer
• Incorrect Money Transfer

9.1 Incorrect Money Transfer

We may be liable to you if we incorrectly perform any Money Transfer that you authorised us to perform.

Where you believe we may have failed to perform or incorrectly performed such a Money Transfer, you should let us know as soon as possible and, if you request, we will make immediate efforts to investigate the matter and let you know the outcome of our investigation.

Where we have failed to perform or incorrectly performed such a Money Transfer, we will without undue delay make good and correct the error and deliver the amount of the unperformed or incorrectly performed Money Transfer to Your Nominated Account as originally instructed.

You will not be entitled to the remedy mentioned:
• if you do not inform us by notice in writing without undue delay (and in any event not later than 13 months after the date on which the incorrect Money Transfer was performed) on your becoming aware that failure by us to perform a Money Transfer authorised by you or incorrect performance by us of a Money Transfer authorised by you may have occurred; or
• where we are able to show that the authorised amount was received at the appropriate time by the person to whom you instructed us to send the Traded Funds; or
• if the failure to perform or incorrect performance was due to you or any Authorised Person providing us with incomplete or incorrect information or was otherwise due to your fault or the fault of any Authorised Person.

  1. Confidentiality and Data Protection

We respect the privacy of the affairs of all our customers and always aim to treat customer information as confidential and to use customer information in confidence. The HUBFX Privacy Policy sets out:
• What information HUBFX capture;
• How HUBFX use this information; and
• How HUBFX store this information.

We will obtain and keep all relevant data from the customer in line with the Data Protection Act 2018 and General Data Protection Regulation.

We may disclose customer information if we are required to do so by law, by a court, by court order, to meet any statutory, legal or regulatory requirement on us, or by the police or any other law enforcement agency in connection with the prevention or detection of crime or to help combat fraud or money laundering.

The Customer agrees that the Company may carry out any check as to the Customer’s financial status as the Company shall deem fit. The Customer accepts that the Company will attempt to verify the Customer’s identity by checking the details supplied against those held on a number of specific databases that the Company has access to, for example information from the Electoral Register and fraud prevention agencies. A record of this process will be kept that may be used to help other companies to verify the Customer’s identity. The Company may also pass information to organisations involved in fraud prevention to protect the Company and other Customers from theft and fraud. If the Customer supplies false or inaccurate information and the Company suspect’s fraud, the Company will record this and share this information with other organisations.

  1. Complaints

Where you wish to make a complaint in relation to our services, a complaint may be registered in line with the HUBFX Complaints Procedure below.

If you are dissatisfied with any aspect of our service, please express this to the person with whom you are dealing who will try to help. If you prefer, please ask to speak to a manager who will also try to help as we aim to resolve all difficulties as quickly and efficiently as possible.

Making a Complaint

If you are dissatisfied with the service provided by HUBFX, you can make a complaint through one of the following methods:

Email

You can email us at compliance@hubfx.co with the details of your complaint.

Telephone

You can contact us on our phone number(s) listed below between 9:00 and 17:00 each Business Day:
+44(0)20 81338 988

Write to Us

Letters with the details of your complaint can be addressed to the complaints manager at:
Complaints
HUBFX, 7 Bell Yard,
London, WC2A 2JR,
United Kingdom

What will happen when you complain?

Once HUBFX receive your complaint, we will acknowledge in writing your complaint promptly within five business days confirming your complaint is being investigated.

HUBFX expect to have a resolution to your complaint with a final decision provided in writing within fifteen business days of receipt of the complaint.

However, in exceptional circumstances HUBFX may require additional time to review your complaint. Where this is the case HUBFX will provide an update on your complaint within fifteen business days, the reason for the delay and confirm the deadline by which you will receive a final reply. If HUBFX are unable resolve your complaint within thirty five business days, we will inform you of your right to raise this issue with the Financial Services Ombudsman.

HUBFX commit to:

  • Treat your complaint fairly and impartially
    • Investigate and resolve any complaint as quickly as possible.
    • If we have made a mistake, we will apologise and offer redress or remedial action wherever possible.
    • If we reject your complaint, we will explain why it has been rejected and what options remain available to you.
    • We will change the way we do things to avoid making the same mistake in the future

Please note, if you become aware of an unauthorised or incorrectly executed payment transaction, you must notify us without undue delay and no later than thirteen months after the date of the transaction. Complaints made after this time may not qualify for any redress under the Payments Services Regulations 2017.

 

 

Standard Terms of Use for Customers using following Service. These Terms of Use apply from 24 August 2022.

ServiceDescriptionService ProviderGoverning Terms of Use
Payment ServicesYour Global Account where you can Store and Pay-Out fundsCurrencycloud LtdTerms of Use (UK-Ltd)
Foreign Exchange ServiceYour Global Account where you can Convert funds between different currenciesCurrencycloud Ltd
EUR Collection ServiceYour Collection Service where you can Collect EUR, store, convert and repatriate funds to your own bank accountCurrencycloud Ltd
GBP Collection ServiceYour Collection Service where you can Collect GBP, store, convert and repatriate funds to your own bank accountCurrencycloud Ltd
CAD Collection ServiceYour Collection Service where you can Collect CAD, store, convert and repatriate funds to your own bank accountCurrencycloud Ltd
SWIFT Collection ServiceYour Collection Service where you can Collect funds via SWIFT in multiple currencies, store, convert and repatriate funds to your own accountCurrencycloud Ltd
Spark ServiceYour international banking experience, where you can integrate international and local clearing into your payments and FX platformCurrencycloud Ltd

A full schedule of fees and terms are speicfied in your signed Services Agreements with us.

Standard Terms of Use for Customers using following Service. These Terms of Use apply from 24 August 2022.

ServiceDescriptionService ProviderGoverning Terms of Use
Payment Services (EU)Your Global Account where you can Store and Pay-Out fundsCurrencycloud BVTerms of Use (EU – BV)

Terms of Use (EU – BV) – German version
Terms of Use (EU – BV) – French version
Foreign Exchange Service (EU)Your Global Account where you can Convert funds between different currenciesCurrencycloud BV

A full schedule of fees and terms are speicfied in your signed Services Agreements with us.

Additional Terms of Use for Customers who are based in the United States and wish to send USD from their US bank account. These Terms of Use apply from 24 August 2022. 

ServiceDescriptionService ProviderGoverning Terms of Use
USD Top-Up ServiceYour Top-Up Service that enable you to send USD from the U.S. to your Currencycloud AccountCFSB administered by Currencycloud Inc.Terms of Use for businesses (CFSB-Inc)
USD Top-Up ServiceYour Top-Up Service that enable you to send USD from the U.S. to your Currencycloud AccountCFSB administered by Currencycloud Inc.Terms of Use for consumers (CFSB-Inc)

Additional Terms of Use for Customers Collect USD in the United States. These Terms of Use apply from 24 August 2022. 

ServiceDescriptionService ProviderGoverning Terms of Use
USD Collection ServiceYour Collection Service where you can Collect USD, store, convert and repatriate funds to your own bank accountCurrencycloud Inc.Terms of Use (US-Inc)
Local USD Spark ServiceYour international banking experience, where you can integrate international and local clearing into your payments and FX platformCurrencycloud Inc.

A full schedule of fees and terms are speicfied in your signed Services Agreements with us.

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ALL RIGHTS RESERVED © 2024 HUBFX
Business Office at 7 Bell Yard, London, WC2A 2JR, United Kingdom

HUBFX Asia  Business Office at
100 Peck Seah St, 079333, Singapore

ALL RIGHTS RESERVED © 2024 HUBFX
Business Office at 7 Bell Yard, London, WC2A 2JR, United Kingdom

HUBFX Asia  Business Office at
100 Peck Seah St, 079333, Singapore

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For clients based in the European Economic Area, payment services for HUBFX are provided by CurrencyCloud B.V.. Registered in the Netherlands No. 72186178. Registered Office: Nieuwezijds Voorburgwal 296 – 298, Mindspace Nieuwezijds Office 001 Amsterdam. CurrencyCloud B.V. is authorised by the DNB under the Wet op het financieel toezicht to carry out the business of an electronic-money institution (Relation Number: R142701).  For clients based in the United States, payment services for HUBFX are provided by The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank (CFSB) to facilitate payments in all 50 states in the US. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129). The Currency Cloud Inc is registered with FinCEN and authorised in 39 states to transmit money (MSB Registration Number: 31000206794359). Registered Office: 104 5th Avenue, 20th Floor, New York , NY 10011. For clients based in the United Kingdom and rest of the world, payment services for HUBFX are provided by The Currency Cloud Limited. Registered in England and Wales No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199).

Payment services for HUBFX UK and US are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199) and The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank (CFSB) to facilitate payments in all 50 states in the US. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129). The Currency Cloud Inc is registered with FinCEN and authorized in 39 states to transmit money (MSB Registration Number: 31000160311064). Registered Office: 104 5th Avenue, 20th Floor, New York , NY 10011 

 

Payment services for HUBFX are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199) and The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank (CFSB) to facilitate payments in all 50 states in the US. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129). The Currency Cloud Inc is registered with FinCEN and authorized in 39 states to transmit money (MSB Registration Number: 31000160311064). Registered Office: 104 5th Avenue, 20th Floor, New York , NY 10011 and CurrencyCloud B.V.. Registered in the Netherlands No. 72186178. Registered Office: Nieuwezijds Voorburgwal 296 – 298, Mindspace Nieuwezijds Office 001 Amsterdam. CurrencyCloud B.V. is authorised by the DNB under the Wet op het financieel toezicht to carry out the business of a electronic-money institution (Relation Number: R142701)

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