Version 2

All terms used in this notice, which are defined in the Fastex Terms of Use (the “Terms of Use”), have the same meaning and construction as in the Terms of Use.

This General Risk Warning provides users with information about the risks associated with trading in Virtual Assets and the Services provided by Fastex. Users are strongly advised to read this General Risk Warning carefully before deciding to start trading on the Platform.

The risks outlined in this statement are not exhaustive and only describe the general nature of the risks involved with holding or trading Virtual Assets. The intention of this statement is just to outline the risks, and not to discuss in detail all the risks associated with holding or trading Virtual Assets. Users should undertake their own assessment as to the suitability of trading in Virtual Assets based on their own research and in a manner that is proportionate with their experience, financial resources and objectives.

Fastex Services involve various risks. The value of Virtual Assets can decrease completely or partially and they can be subjected to drastic fluctuations. Their transferability may not always be guaranteed, and some transfers might not be reversible.

Virtual Asset is not a legal tender and is not backed by the UAE government.

This is just a snapshot of the potential risks tied to using Fastex Services. This advisory doesn't encompass all associated risks or how these risks might affect you personally.

Virtual Assets might lack liquidity, thus hindering or preventing you from selling or exiting a position at your preferred time. Furthermore, they might not always be transferable, and some transfers might not be reversible. This can happen anytime, including during swift price changes.

Although Fastex implements measures to secure your transactions and account details, some transactions aren't private and could be registered on public Distributed Ledger Technologies (DLTs). Moreover, Virtual Assets can be exposed to fraud, manipulation, theft, including hacking and other intentional schemes, and may not have legal protections.

Trading Virtual Assets carries significant market risk and price volatility. Their value can vary drastically, quickly and without notice, due to market fluctuations and other factors. They may lose their value partially or entirely.

The volatility and unpredictability of the price of Virtual Assets relative to fiat currency may result in significant loss over a short period of time.

The value of Virtual Assets may be derived from the continued willingness of market participants to exchange fiat currency for Virtual Asset, which may result in the potential for permanent and total loss of value of a particular Virtual Asset should the market for that Virtual Asset disappear.

Changes in legislation and regulations can significantly impact the value of Virtual Assets and affect the use, transfer, exchange of Virtual Assets. They may not have legal protections, hence, staying updated about the legal environment in your jurisdiction is crucial.

Our fees and charges are specified here. Fastex may, at its own discretion, modify these fees and charges occasionally. Please be aware of all costs and charges that apply to you, as they will influence your profits from using Fastex Services.

We can't guarantee that Fastex Services will be available at all times or that they won't be affected by unexpected service outages or network congestion. It may not be feasible for you to purchase, sell, store, transfer, send, or receive Virtual Assets when you want to.

Third parties, like payment providers, custodians, and banking partners, may partake in providing Fastex Services. You might be subject to their terms & conditions, and Fastex might not be liable for any losses that these third parties may cause you.

Fastex cannot eradicate all security risks. You are responsible for safeguarding your Fastex Account password, and you might be accountable for all transactions under your Fastex Account, whether you authorized them or not. Digital Asset transactions may be irreversible, and losses due to fraudulent or unauthorized transactions may not be restorable.

Considering the nature of Virtual Assets and the technologies they are based on, several inherent risks exist, including but not limited to:

1. Issues, faults, hacks, exploitation, errors, protocol failures or unexpected events related to a Digital Asset or the technologies or economic systems it depends on;

2. Irreversibility of transactions in Virtual Assets. Consequently, losses from fraudulent or unintentional transactions may not be recoverable;

3. Technological advancements leading to a Digital Asset becoming obsolete;

4. Delays causing transactions to not be settled on the agreed delivery date;

5. Attacks on the protocol or technologies a Digital Asset depends on, including but not limited to several types of attacks such as distributed denial of service, sybil attacks, phishing, social engineering, hacking, smurfing, malware, double spending, majority-mining, consensus-based or other mining attacks, misinformation campaigns, forks, and spoofing.

Digital Asset markets operate round-the-clock, throughout the week. Rapid price changes can occur anytime, even outside regular business hours.

When communicating with us electronically, be aware that such communications can fail, can be delayed, might not be secure, and/or might not reach the intended destination.

Fluctuations in currency exchange will affect your profits and losses.

Changes in laws and regulations may significantly affect the value of Virtual Assets. This risk is unpredictable and may differ from one market to another.

The nature of Virtual Assets may lead to an increased risk of fraud or cyber-attacks. Technological difficulties experienced by Fastex may prevent the access or use of a user’s Virtual Assets.