Compliance & Legal

At Monex Europe, we are committed to providing exceptional service and aim to deliver the best outcomes for our clients. However, if you are dissatisfied with any aspect of Monex Europe, be it our products or services, we encourage you to let us know so we can address your concerns promptly.

We like to give our clients choice, even when submitting a complaint. To make it easy for you, you can submit a complaint in one of the following ways:

1. Contact your dedicated account manager directly via phone or email.
2. Email: complaints@monexeurope.com
3. If you would like to write to us via post, please use the below details:
   Head of Compliance, Monex Europe, 3rd Floor, 1 Bartholomew Lane, London, EC2N 2AX
4. Use the online complaints form on our website.

Our complaints process consists of three key stages:

1. Acknowledgment

• We will acknowledge receipt of your complaint within 3 business days.
• We will provide you with the contact details of the person handling your complaint and the expected resolution timeline.

2. Investigation

• Our Compliance Department will carry out an independent and impartial review of your complaint to ensure we have acted fairly, reasonably, and in line with our regulatory and contractual obligations. We are committed to delivering fair treatment and good outcomes for all clients.
• During this process, we may request additional information from you to ensure a complete understanding of your perspective.

3. Final Response

After the investigation concludes, we will provide you with a detailed written response outlining:

• The details of our review
• Our findings and any actions taken
• Our final decision on the matter

We aim to resolve complaints as quickly as possible while ensuring a thorough review. The regulatory timeframe for providing a final response depends on the Monex Europe entity you are dealing with:

• Monex Europe Markets (MEM): Within 8 weeks.
• Monex Europe Limited (MEL): Within 15 business days, may take up to 35 business days for complex cases. If we are unable to provide you with a final response to your complaint within 15 business days of receiving it, we will write to you explaining the reasons why we are not in a position to issue a final response to your complaint yet.

If you are not satisfied with our final response, you may be eligible to escalate your complaint to the Financial Ombudsman Service (FOS). The FOS is an independent body that provides a free and impartial resolution service for financial disputes.

Contact Details for the Financial Ombudsman Service:
Address: Exchange Tower, London, E14 9SR
Telephone: 0800 023 4567
Email: complaint.info@financial-ombudsman.org.uk
Website: www.financial-ombudsman.org.uk

Your complaint should be escalated with the FOS within six months of receiving our final response.

Please note Monex Europe does not subscribe to an Alternative Dispute Resolution service for those clients who are not eligible to use FOS.

Yes. As part of our regulatory obligations, we maintain records of all complaints and the actions taken for resolution for a period of five years. Keeping these records allows us to track, review, and improve our services while ensuring full compliance with regulatory standards.

If you have any questions regarding our complaints process, please feel free to contact us Monday to Friday, 8 AM – 5 PM at complaints@monexeurope.com.

These terms and conditions, together with any and all other documents referred to herein, set out the terms of use under which you may use this website, www.monexeurope.com ("Our Site"). Please read these terms and conditions carefully and ensure that you understand them. Your agreement to comply with and be bound by these terms and conditions is deemed to occur upon your first use of Our Site. If you do not agree to comply with and be bound by these terms and conditions, you must stop using Our Site immediately.

In this Policy, the following terms shall have the following meanings:

"personal data" means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation ("GDPR"); and

"We/Us/Our" means Monex Europe Ltd, a private limited company registered in England under company number 6014261, whose registered address is 3rd Floor, 1 Bartholomew Lane, London EC2N 2AX.

2.1 Our Site is operated by pacwebhosting.uk Ltd, a limited company registered in the United Kingdom, whose registered address is International House, 61 Mosley Street, Manchester, M2 3HZ, United Kingdom.

2.2 Our Site is maintained by Cogent Design Limited, a private limited company registered in England under company number 03698789, whose registered address is 6b Parkway, Porters Wood, St Albans, Hertfordshire, AL3 6PA.

2.3 Our VAT number is GB318 6519 86.

2.4 For any data protection or GDPR related questions, please email enquiries@monexeurope.com, by telephone on +44 20 3650 6003, or contact by post at 3rd Floor, 1 Bartholomew Lane, London EC2N 2AX.

2.5 We are regulated by Financial Conduct Authority as an Authorised Electronic Money Institution, with permission to issue electronic money (e-money) and provide payment services – No 998114.

3.1 Access to Our Site is free of charge.

3.2 It is your responsibility to make any and all arrangements necessary in order to access Our Site.

3.3 Access to Our Site is provided "as is" and on an "as available" basis. We may alter, suspend or discontinue Our Site (or any part of it) at any time and without notice. We will not be liable to you in any way if Our Site (or any part of it) is unavailable at any time and for any period.

4.1 All content included on Our Site and the copyright and other intellectual property rights subsisting in that content, unless specifically labelled otherwise, belongs to or has been licensed by Us. All Content is protected by applicable United Kingdom and international intellectual property laws and treaties.

4.2 Subject to sub-Clause 4.3 you may not reproduce, copy, distribute, sell, rent, sub-licence, store, or in any other manner re-use content from Our Site unless given express written permission to do so by Us.

4.3 You may:

• Access, view and use Our Site in a web browser (including any web browsing capability built into other types of software or app);
• Download Our Site (or any part of it) for caching;
• Print pages from Our Site;
• Download extracts from pages on Our Site; and
• Save pages from Our Site for later and/or offline viewing.

4.4 Our status as the owner and author of the content on Our Site (or that of identified licensors, as appropriate) must always be acknowledged.

4.5 You may not use any content saved or downloaded from Our Site for commercial purposes without first obtaining a licence from Us (or our licensors, as appropriate) to do so.

5.1 You may link to Our Site provided that: you do so in a fair and legal manner; you do not do so in a manner that suggests any form of association, endorsement or approval on Our part where none exists; you do not use any logos or trade marks displayed on Our Site without Our express written permission; and you do not do so in a way that is calculated to damage Our reputation or to take unfair advantage of it.

5.2 You may not link to any page other than the homepage of Our Site, www.monexeurope.com. Deep-linking to other pages requires Our express written permission.

5.3 Framing or embedding of Our Site on other websites is not permitted without Our express written permission. Please contact Us at enquiries@monexeurope.com for further information.

Links to other sites may be included on Our Site. Unless expressly stated, these sites are not under Our control. We neither assume nor accept responsibility or liability for the content of third party sites. The inclusion of a link to another site on Our Site is for information only and does not imply any endorsement of the sites themselves or of those in control of them.

7.1 Nothing on Our Site constitutes advice on which you should rely. It is provided for general information purposes only.

7.2 Insofar as is permitted by law, We make no representation, warranty, or guarantee that Our Site will meet your requirements, that it will not infringe the rights of third parties, that it will be compatible with all software and hardware, or that it will be secure.

7.3 We make reasonable efforts to ensure that the content on Our Site is complete, accurate, and up-to-date. We do not, however, make any representations, warranties or guarantees (whether express or implied) that the content is complete, accurate, or up-to-date.

8.1 To the fullest extent permissible by law, We accept no liability to any user for any loss or damage, whether foreseeable or otherwise, in contract, tort (including negligence), for breach of statutory duty, or otherwise, arising out of or in connection with the use of (or inability to use) Our Site or the use of or reliance upon any content included on Our Site.

8.2 To the fullest extent permissible by law, We exclude all representations, warranties, and guarantees (whether express or implied) that may apply to Our Site or any content included on Our Site.

8.3 If you are a business user, We accept no liability for loss of profits, sales, business or revenue; loss of business opportunity, goodwill or reputation; loss of anticipated savings; business interruption; or for any indirect or consequential loss or damage.

8.4 Nothing in these Terms and Conditions excludes or restricts Our liability for fraud or fraudulent misrepresentation, for death or personal injury resulting from negligence, or for any other forms of liability which cannot be excluded or restricted by law.

9.1 We exercise all reasonable skill and care to ensure that Our Site is secure and free from viruses and other malware.

9.2 You are responsible for protecting your hardware, software, data and other material from viruses, malware, and other internet security risks.

9.3 You must not deliberately introduce viruses or other malware, or any other material which is malicious or technologically harmful either to or via Our Site.

9.4 You must not attempt to gain unauthorised access to any part of Our Site, the server on which Our Site is stored, or any other server, computer, or database connected to Our Site.

9.5 You must not attack Our Site by means of a denial of service attack, a distributed denial of service attack, or by any other means.

10.1 You may only use Our Site in a manner that is lawful. Specifically, you must ensure that you comply fully with any and all local, national or international laws and/or regulations; you must not use Our Site in any way, or for any purpose, that is unlawful or fraudulent; you must not use Our Site to knowingly send, upload, or in any other way transmit data that contains any form of virus or other malware; and you must not use Our Site in any way, or for any purpose, that is intended to harm any person or persons in any way.

10.2 We reserve the right to suspend or terminate your access to Our Site if you materially breach the provisions of this Clause or any of the other provisions of these terms and conditions.

Use of Our Site is also governed by Our Cookie and Privacy Policies. These policies are incorporated into these terms and conditions by this reference.

12.1 We may alter these Terms and Conditions at any time. If We do so, details of the changes will be highlighted at the top of this page. Any such changes will become binding on you upon your first use of Our Site after the changes have been implemented. You are therefore advised to check this page from time to time.

12.2 In the event of any conflict between the current version of these terms and conditions and any previous version(s), the provisions current and in effect shall prevail unless it is expressly stated otherwise.

To contact Us, please email Us at enquiries@monexeurope.com or using any of the methods provided on Our contact page at www.monexeurope.com/contact/.

14.1 Any and all personal information that We may collect will be collected, used and held in accordance with the provisions of the GDPR and your rights and Our obligations under that Act.

14.2 We may use your personal information to reply to any communications you send to Us.

15.1 These Terms and Conditions, and the relationship between you and Us (whether contractual or otherwise) shall be governed by and construed in accordance with English law.

15.2 If you are a consumer, any disputes concerning these terms and conditions, the relationship between you and Us, or any matters arising therefrom or associated therewith (whether contractual or otherwise) shall be subject to the jurisdiction of the courts of England, Wales, Scotland, or Northern Ireland, as determined by your residency.

15.3 If you are a business, any disputes concerning these terms and conditions, the relationship between you and Us, or any matters arising therefrom or associated therewith (whether contractual or otherwise) shall be subject to the exclusive jurisdiction of the courts of England and Wales.

The Monex Group ("we", "our" or "us") comprises multiple legal entities, including but not limited to, Monex Europe Limited and Monex Europe Markets Limited. Members of the Monex Group may process certain personal data about you, depending on the scope of your specific relationship with us. This processing of personal data is regulated under the General Data Protection Regulation (2016/679) (the GDPR) and the e-Privacy Directive (2002/58/EC), which both apply across the European Union (including the United Kingdom) (together referred to as the Data Protection Laws). We are responsible as "controller" of your personal data for the purposes of those laws.

This Privacy Notice applies to the following three circumstances:

1. personal data processed when you visit and use our website;
2. any natural person that has been contacted through our direct marketing strategy, either via phone or email; and
3. personal data processed to service our potential and existing clients.

We will comply with the principles set out in the GDPR, which states that the personal data we hold about you must be:

• used lawfully, fairly and in a transparent way;
• collected only for valid purposes that we have clearly explained to you;
• relevant to the purposes we have told you about and limited only to those purposes;
• accurate and kept up to date;
• kept only as long as necessary for the purposes we have told you about; and
• kept securely.

Personal data means any information about an individual from which that person can be identified. It does not include data where your identity has been removed, such as anonymous data.

4.1 Personal data gathered from you

4.1.1 Website

When you visit our website, and navigate your way around, we acquire minimum personal data at this stage. The personal data we collect includes the following:

• information about your computer or device, including browser type and settings;
• log data – the webpage you were visiting before you came to our site, pages you visit on our site, time spent on those pages, information you search for on our site, IP address, access times/dates, and other statistics;
• history of interaction with our webpages, including traffic data relating to your internet connection; and/or
• other personal data that does not directly identify you, such as actions taken on our website.

Providing your data is optional, but it may be necessary for certain services we provide, and other processing activities e.g. to access content, or to qualify your suitability as a new customer. In such cases, if you do not provide your personal data, we may not be able to provide you with the requested services.

4.1.2 Marketing

We collect personal data that you provide directly to us only if you respond to our marketing campaigns. This personal data is collected throughout communication with us, such as call logs and email exchanges with our staff.

4.1.3 Client

We collect the following personal data that you provide to us at onboarding: name; email address; telephone number; address; nationality; date of birth; identification documents (and their attached personal data); and signature.

We collect the following personal data that you provide to us throughout the business relationship: account activity, including payment instructions; communications with our staff; and usage of online portals.

4.2 Personal data from other sources

4.2.2 Marketing

If we have contacted you during a marketing campaign, we may have collected personal data on you which could include: name (including any designatory letters you have attached); date of birth; country of residence; corporate email address; corporate telephone number; and occupation.

We collect this personal data from third parties who, in turn, may gather the data from publicly accessible sources, including but not limited to LinkedIn, Companies House, and news sources.

4.2.3 Client

We may receive personal data about you from other sources, where applicable. This information includes: credit information; credit references; business partners, introducers, service providers; and legal and compliance checks. We will add this information to the personal data we hold about you to check customer creditworthiness; to check for possible fraudulent activity; comply with our legal obligations; and to improve and personalise our service.

Please note that we will ask for your explicit consent before any credit search is performed, and this search is only required for certain products and services.

4.3 Cookies and similar technologies

Cookies are small text files that are placed on your computer or device by websites that you visit or HTML-formatted emails you open. You can access our Cookies Policy on our website [https://www.monexeurope.com/cookie-policy/].

5.1 Website

We use your personal data mainly to: interact with you; to provide you with support services; to make it easy to navigate our website; to improve our website and our products; and to offer you content and services that might interest you.

We may also use your personal data where processing is necessary for us to comply with our legal obligations, including responding to legal process or lawful requests.

5.2 Marketing

We collect personal data about you in order to directly market services that we legitimately believe will be of interest to you. This data is used exclusively to communicate with you and discuss how we can help you.

If you contact us to discuss any topic or issue, we may monitor and record communications such as emails and telephone calls for the following purposes: quality assurance; training; fraud prevention; gathering statistical data for management information; and compliance with relevant laws.

5.3 Client

We collect personal data about our users for the following purposes: onboarding; identify you and manage any accounts you hold with us; sending contract notes; complying with regulation; process your trades; and statistical analysis and behavioural analysis.

We may share your personal information with other group companies, affiliates and other third parties to help us process your personal information for the purposes set out in this Privacy Notice. This may include:

• members of the Monex Group depending on your requested products and services;
• contractors, sub-contractors, business partners, introducers, suppliers and/or service providers that help us perform our business functions;
• credit reference agents in accordance with our credit checking policy;
• law enforcement agencies in connection with any investigation to help prevent unlawful activity;
• legal representatives and consultants in situations where expert advice and legal opinions are required; and/or
• processors that maintain our IT systems.

Your personal data is never sold and any personal data that is shared is in line with the Data Protection Laws.

We collect and use personal data to provide you with a service or product that you have requested, or where necessary, to comply with a legal obligation. We may also collect and use personal data pursuant to the Monex Group's legitimate interest as long as these interests are not overridden by your data protections rights. Additionally, we may collect and use certain personal data where you have given consent. Where the Monex Group asks for consent, you are free to withhold or revoke your consent by opting out.

We rely on the legal basis "legitimate interest" and "consent" in order to market to you, with considerations to the e-Privacy Directive and its requirements under consent.

We will keep your personal data in line with our Data Retention Policy. This allows the Monex Group entities to perform the activities listed in this Privacy Notice. We will maintain your personal data throughout the lifecycle of the contract. We may need to keep your data for a longer period where we need to retain personal data to comply with legal or regulatory requirements, such as to help us respond to complaints or preventing fraud and financial crime. If we are not required to retain the personal data, we will destroy, delete or anonymise it at the point it is no longer required.

We store your personal data in a secure environment. We have appropriate security measures in place to prevent personal data from being lost, accessed or used in an unauthorised way, including encryption and other forms of security. We limit access to your personal data to those who have a genuine business need to know it. Those processing your personal data will do so only in an authorised manner and are subject to a duty of confidentiality.

We also have procedures in place to deal with any suspected data security breach. We will notify you and any applicable regulator of a suspected data security breach where we are legally required to do so.

Whilst we will use all reasonable efforts to secure your personal data, in using the website you acknowledge the use of the internet is not entirely secure and for this reason we cannot guarantee the security or integrity of personal data that is transferred from you.

Your personal data may be transferred to and stored in locations outside of the UK, such as the European Economic Area. When we do this, we will ensure the recipient entity has an appropriate level of protection and that the transfer is lawful through controls, such as Standard Contractual Clauses. We may need to transfer your data in this way to carry out our contractual obligations to you, to fulfil a legal obligation and/or for our legitimate interests. In such instances, we will only share the personal data with those who have the right to see the personal data.

We would like to send you information about products, services and our business, which may be of interest to you. Such information could be sent by post, email, or telephone. How we market to client and potential clients differs and is explained below.

11.1 Client

We will ask whether you would like us to send you marketing messages on the first occasion that you provide any relevant contact information (i.e. on signing up to trade with us). If you do opt in to receive such marketing from us, you can opt out at any time. If you have any queries about how to opt out, or if you are receiving messages you do not want to, you can contact us using the details provided below.

11.2 Potential client

You may be sent marketing information, in this instance the personal data has been collected and processed in line with the previously described processes in sections 4.1.2, 4.2.2 and 5.2.

We may do a credit check on you so that we can make credit decisions about you and prevent financial crime. Any such search will be recorded on the files of the credit reference agency.

We may also disclose personal data about how you conduct your account to credit reference agencies and your personal data may be linked to records relating to other people living at the same address with whom you are financially linked.

Other credit businesses may use your personal data to make credit decisions about you and the people with whom you are financially associated; trace debtors; and prevent and detect financial crime. If you provide false or inaccurate information to us and we suspect fraud, we will record this.

We would like to make sure you are fully aware of all your data protection rights.

The right to access – You have the right to request us for copies of your personal data and how we process the data.

The right to rectification – You have the right to request that we correct any personal data you believe is inaccurate. You also have the right to request we complete personal data you believe is incomplete.

The right to erasure – You have the right to request that we erase your personal data, under certain conditions. If you enforce this right at the same time as you object to the processing we will have to maintain basic identification data to ensure we do not contact you again.

The right to restrict processing – You have the right to request that we restrict the processing of your personal data, under certain conditions.

The right to object to processing – You have the right to object to our processing of your personal data, this means if you do not want to be contacted for the purposes set out in this notice then we will stop processing your data.

The right to data portability – You have the right to request that we transfer the data that we have collected to another organisation, or directly to you, under certain conditions.

If you make a request, we have one month to respond to you.

This Privacy Notice was published on 1st January 2018. The last update was on 15 July 2021.

We may update or amend this Privacy Notice from time to time. You should check this Privacy Notice frequently to ensure you are aware of the most recent version that will apply each time you access this website. We will also attempt to notify users of any changes by email if you have opted to receive emails, and/or a notice on the website header.

If you have any questions about this Privacy Notice or the personal data we hold about you, please contact us by:

Email – enquiries@monexeurope.com

Post – Monex Europe Limited, 1 Bartholomew Lane, London, EC2N 2AX.

If you have any complaints about this Privacy Notice or the personal data we hold about you, please contact us by reaching out to the above contact information.

If you are unsatisfied by our response you can contact the Information Commissioners Office (ICO) by contacting:

Contact number: 0303 123 1113
Website: https://ico.org.uk/make-a-complaint/

Cookies are small text files that are stored on your device when you visit a website. They are widely used to make websites work more efficiently, remember your preferences, and provide information to website operators.

Essential Cookies: These cookies are necessary for the basic functionality of our website and enable you to navigate and use our services. Without these cookies, certain features of our website may not work properly.

Performance Cookies: These cookies collect information about how you use our website, such as which pages you visit and any errors that occur. This helps us identify and fix problems to improve performance.

Functional Cookies: These cookies remember your preferences and choices to provide a more personalized experience when you return to our website.

Marketing Cookies: These cookies are used to track your activity across websites and display targeted advertising based on your interests.

You can control and delete cookies through your browser settings. Most web browsers allow you to refuse cookies or alert you when cookies are being sent to your device. Please consult your browser's help documentation for instructions on how to manage cookies.

Please note that disabling cookies may affect the functionality of our website and your user experience.

If you have questions about our use of cookies, please contact us at the address provided on this website.

In accordance with Section 172 of the Companies Act 2006, the Board of Directors of each Monex Group UK entity considers the long-term consequences of decisions, the interests of employees, fostering business relationships with suppliers and customers, the impact on community and the environment, maintaining a reputation for high standards of business conduct, and acting fairly between members of the company.

The statements below describe how each UK company within the Monex Group has had regard to these matters in the course of its decision-making.

Please find below all important regulatory disclosures associated with Monex's UK investment firm, Monex Europe Markets Limited.

These Terms and Conditions are incorporated into all contracts between Monex Europe Limited and the Client in relation to the provision of FX services and payment services, and between Monex Europe Markets Limited and the Client in relation to the provision of investment services.

Please find the English-language versions of our client terms and conditions below.

Please find the Spanish-language (Español) versions of our Monex Europe Limited client terms and conditions below.

In compliance with Schedule 19, Finance Act 2016.

Monex International Markets PLC is part of the Monex S.A.P.I de C.V (Mexico). This policy relates to Monex International Market PLC and all other UK companies within the wider Monex S.A.P.I. de C.V Group (collectively "Monex UK").

In this document we are disclosing the UK Tax Strategy for all UK legal entities.

This strategy is reviewed and approved annually by the Board of Directors. Tax governance is integrated into broader corporate governance frameworks, with accountability clearly assigned to senior finance and tax personnel.

Monex UK transacts with customers in many countries and accordingly is exposed to a variety of tax risks. We set robust policies and compliance processes, which are kept under review as legislation and circumstances change, to ensure we discharge our tax obligations accordingly.

We maintain a low tolerance for tax risk and do not engage in aggressive tax arrangements. Tax decisions are taken with full regard to legal obligations, commercial substance, and reputational considerations. Monex UK's internal governance ensures employees are aware, trained, and committed to a strict policy against facilitating tax evasion.

We use available reliefs and incentives responsibly in a manner consistent with their intended purpose. All planning is underpinned by genuine commercial rationale and aligned with our business operations.

We're pleased to report that we have a very open, cooperative and transparent relationship with HMRC. The Group works with HMRC in real-time in accordance with the principles of the Framework of Co-operative Compliance. When occasional differences of opinion occur, usually concerning the "fine detail" of tax legislation, we seek to maintain a transparent and cooperative relation with tax authorities.

This document satisfies the requirements of Paragraph 16(2), Schedule 19 of the Finance Act 2016.

The financial strength of the group is integral to Monex's past and continued success in the future.

Monex Europa S.L. ("MESL") is authorised and regulated by Banco de España ("BoS") as an Authorised Payment Institution (Regulatory Licence Number 6936). MESL offers Spot FX contracts and FX Forward contracts which are entered into for payment purposes, i.e. for the purposes of payment for identifiable goods, services, or direct investments.

All FX transactions must be physically settled – the client delivers the sold currency, and we pay out the purchased currency. MESL is not permitted to allow clients to enter into FX Forward contracts for speculative purposes, repayments linked to loans, or to otherwise hedge FX outside of making payment for identifiable goods or services, or direct investments.

As an Authorised Payment Institution, MESL does not protect client money under any financial services compensation scheme. However, client funds are protected under the safeguarding scheme applicable to payment service providers. This means that MESL holds all client money in separate correspondent banks, away from MESL's own operational funds and as such, should something happen to MESL, client funds are ringfenced and protected. No creditor can hold a claim to any of the funds held in such accounts. I.e., should MESL go insolvent or into administration, MESL's correspondent banks have a responsibility to return the funds to our clients as soon as possible.

As an Authorised Payment Institution, MESL must safeguard all funds received from clients in order to execute payment transactions regardless of the destination of payment.

The MESL system used to reconciliate and direct funds considers all client balances irrespective of which banking institution or jurisdiction the funds are held in. MESL calculates and safeguards funds daily, ensuring that the correct value of funds are held for each client, and that the funds are not co-mingled with MESL's own funds. All accounts in which Client funds are settled into, are from top tier Authorised Credit Institutions (based in the EU and UK). All of these accounts are accompanied by acknowledgement letters from the Credit Institution that the funds are ring-fenced from all other funds, and that no creditor can hold a claim to any of the funds held in such accounts. I.e. should MESL go into insolvency, MESL's correspondent banks have a duty to return the funds to clients as soon as possible.

If you have specific queries, please contact regulatorycompliance.mesl@monexeurope.eu

MESL provides clients with a secure trading environment to transact foreign exchange business. Our clients are provided with a highly secure system for communicating payment instructions and other sensitive data globally, while all outgoing payments and FX transactions made can be traced up to delivery.

Payments are settled through Barclays Bank in Frankfurt, France, Spain and London; BBVA in Spain, and Banco Monex.

MESL operates under the Payment Service Directive 2 and its transposition into Spanish Legislation. Therefore, client funds will ultimately upon receipt sit in "safeguarding" client trust accounts in line with the applicable regulations.

Corporate member of SWIFT – MEUOESMM. This is MESL's SWIFT BIC.

For more information, please contact our Settlements team on:
E: settlements.mesl@monexeurope.eu   T: +34 919 030 444

Monex USA is committed to strict adherence with any and all applicable regulations and codes relating to Anti-Money Laundering and Anti-Terrorist Financing.

Monex USA's policies and procedures were created in order to detect any suspicious activity that may threaten your transmission of funds. We monitor numerous sanctions lists in order to screen our customer accounts, beneficiaries, and related parties or entities to ensure legal and positive customer relationships. These strict policies are enforced by a dedicated team of AML compliance and legal professionals that are here to keep your money safe.

Alabama Customers

Alabama Securities Commission
445 DEXTER AVENUE, SUITE 12000
MONTGOMERY, AL 36104
Telephone number: 334-242-2984
https://asc.alabama.gov/

Alaska Customers

For Alaska Residents Only:
If your issue is unresolved by Monex USA Inc. 800-834-2497, please submit formal complaints with the State of Alaska, Division of Banking & Securities.
Please download the form here.
Website: https://www.commerce.alaska.gov/web/dbs/Home.aspx
Submit formal complaint form with supporting documents:
STATE OF ALASKA, Division of Banking & Securities 550 W. 7th Avenue, Suite 1850 Anchorage, Alaska 99501
If you are an Alaska resident with questions regarding formal complaints, please email us at dbs.licensing@alaska.gov or call Nine Zero Seven Two Six Nine Eight One Four Zero (907-269-8140).

Arizona Customers

Arizona Department of Insurance & Financial Institutions
100 North 15th Avenue, Suite 261
Phoenix, AZ 85007
Telephone number: 602-771-2800
https://difi.az.gov/

Arkansas Customers

Arkansas Securities Department
#1 Commerce Way, Suite 402
Little Rock, Arkansas 72202
Telephone number: 501-324-9260
http://www.securities.arkansas.gov/

California Customers

California Department of Financial Protection and Innovation
If you have complaints with respect to any aspect of the money transmission activities conducted at this location, you may contact the California Department of Financial Protection and Innovation at:
Toll-free telephone number: 1-866-275-2677; Fax: 916-445-2123
Email: Ask.DFPI@dfpi.ca.gov
Website: https://dfpi.ca.gov/
Mail: Department of Financial Protection and Innovation, 651 Bannon St, Suite 300, Sacramento, CA 95811

Colorado Customers

Colorado Division of Banking
1560 Broadway, Suite 975
Denver, CO 80202
Please write to the Colorado Division of Banking with full details describing the specific service issue you have experienced. Your correspondence should include the following information:
Identify Monex and the names of people you have contacted at Monex. Please include the Monex phone number and address.
Describe your complaint and outline all efforts made to resolve the issue.
Provide copies of all correspondence relating to the specific service issue.
Suggest how you would like the service issue resolved.
Telephone number: 303-894-7575
Email Address: DORA_BankingWebsite@state.co.us
Online
Commonwealth of Colorado Notice

Connecticut Customers

Connecticut Department of Banking
260 Constitution Plaza
Hartford, CT 06103
Telephone number: 860-240-8170
http://www.ct.gov/dob/site/default.asp

Delaware Customers

Delaware Office of State Bank Commissioner
43 South Dupont Highway
Dover, DE 19901
Telephone number: 302-739-4235
https://banking.delaware.gov/contact/

District of Columbia Customers

District of Columbia Department of Insurance, Securities & Banking
1050 First St. NE
Washington, DC 20002
Telephone number: 202-727-8000
http://disb.dc.gov/

Florida Customers

Florida Office of Financial Regulation
For complaints directly to the Florida Office of Financial Regulation, please send correspondence to:
Toll-free telephone number: 850-487-9687
Mail: Florida Office of Financial Regulation, 200 E. Gaines Street, Tallahassee, FL 32399-0376
http://www.flofr.com/

Georgia Customers

Georgia Department of Banking and Finance
2990 Brandywine Rd #200
Atlanta, GA 30341
Telephone number: 888-986-1633
https://dbf.georgia.gov/

Hawaii Customers

Hawaii Division of Financial Institutions
335 Merchant St # 201
Honolulu, HI 96813
Telephone number: 808-586-2630
http://cca.hawaii.gov/dfi/

Idaho Customers

Idaho Department of Finance
11341 W Chinden Blvd, Suite A300
Boise, ID 83714
Telephone number: 208-332-8000
http://www.finance.idaho.gov/

Illinois Customers

Illinois Department of Financial and Professional Regulation
If you have complaints with respect to any aspect of the money transmission activities conducted at this location, you may contact the Illinois Department of Financial & Professional Regulation at:
Toll-free telephone number: 1-888-473-4858
Mail: Department of Financial & Professional Regulation, 320 West Washington, 5th Floor Springfield, Illinois 62786
https://idfpr.illinois.gov/dfi.html

Indiana Customers

30 South Meridian St., Suite 300
Indianapolis, Indiana 46204
Telephone number: 317-232-3955
http://www.in.gov/dfi/

Iowa Customers

Iowa Division of Banking
200 E Grand Ave #300
Des Moines, IA 50309
Telephone number: 515-281-4014
https://www.idob.state.ia.us/

Kansas Customers

Kansas Officer of the State Bank Commissioner
700 SW Jackson St # 300
Topeka, KS 66603
Telephone number: 785-380-3939
http://www.osbckansas.org/

Kentucky Customers

Kentucky Department of Financial Institutions
500 Mero Street, 2SW19
Frankfort, KY 40601
Telephone number: 502-573-3390
https://kfi.ky.gov/

Louisiana Customers

Louisiana Office of Financial Institutions
8660 United Plaza Blvd
Baton Rouge, LA 70809
Telephone number: 225-925-4660
http://www.ofi.state.la.us/

Maine Customers

Maine Bureau of Consumer Credit Protection
35 State House Station
Augusta, Maine 04333
Telephone number: 207-624-8527
http://www.maine.gov/pfr/consumercredit/index.shtml?l=it

Maryland Customers

Maryland Department of Labor, Licensing and Regulation
The Commissioner of Financial Regulation for the State of Maryland will accept all questions or complaints from Maryland residents regarding Monex Inc. NMLS #910436 at:
100 S. Charles Street, Tower 1 Suite 5300, Baltimore, MD 21201
Phone number: 888 784-0136.
File a complaint here.

Massachusetts Customers

Massachusetts Office of Consumer Affairs and Business Regulation
1000 Washington Street, 10th Floor
Boston, MA 02118-6400
Telephone number: 617-956-1501
Monex, Inc. is a licensed money transmitter in Massachusetts (license number: FT5527)
http://www.mass.gov/ocabr/

Michigan Customers

Michigan Department of Insurance & Financial Services
530 W Allegan St #7
Lansing, MI 48933
Telephone number: 877-999-6442
http://www.michigan.gov/difs/

Minnesota Customers

Minnesota Department of Commerce
If you have any questions or complaints about your money transmission activities, please contact the Minnesota Department of Commerce with the information below:
Online submission 85 7th Place East,
Suite 280 Saint Paul, MN 55101
Toll Free 800-657-3602
Phone: 651-539-1600
Fax: 601-321-6933
Email: consumer.protection@state.mn.us
File a complaint here.

Mississippi Customers

Mississippi Department of Banking and Consumer Finance
P.O. Box 12129
Jackson, MS 39236-2129
Telephone number: 601-321-6901
https://dbcf.ms.gov/

Missouri Customers

Missouri Division of Finance
Truman State Office Building, Room 630
Jefferson City, MO 65102
Telephone number: 573-751-3242
http://finance.mo.gov/

Montana Customers

For customers located in Montana, please contact us directly as money transmitters are currently not regulated in this state.

Nebraska Customers

Nebraska Department of Banking & Finance
1526 K St #300
Lincoln, NE 68508
Telephone number: 877-471-3445
http://www.ndbf.ne.gov/index.shtml

Nevada Customers

Nevada Financial Institutions Division
3300 W. Sahara Ave., Suite 250
Las Vegas, Nevada 89102
Telephone number: 702-486-4120
http://fid.nv.gov/

New Hampshire Customers

New Hampshire Banking Department
53 Regional Dr. #200
Concord, NH 03301
Telephone number: 603-271-3561
https://www.nh.gov/banking/

New Jersey Customers

New Jersey Department of Banking and Insurance
20 West State Street
P.O. Box 325
Trenton, NJ 08625
Telephone number: 609-292-7272
http://www.state.nj.us/dobi/index.html

New Mexico Customers

New Mexico Division of Financial Institutions
2550 Cerillos Road
Santa Fe, NM 87505
Telephone number: 505-476-4885
https://www.rld.nm.gov/
money_order_principals_and_money_order_agents.aspx

New York Customers

New York Department of Financial Services Consumer Services Division
New York (NY) Monex Inc. is regulated and licensed by the New York State Department of Financial services to transact the business of receiving money for transmission within this country and abroad. New York consumers can direct unresolved complaints to the Consumer Assistance Unit, NYS Department of Financial Services, One Commerce Plaza, Albany NY 12257, ph. (800) 342-3736, website (https://www.dfs.ny.gov/).

North Carolina Customers

North Carolina Office of the Commissioner of Banks
3100 Smoketree Court, Suite 1100
Raleigh, NC 27604
Telephone number: 919-733-3016
https://nccob.nc.gov/

North Dakota Customers

North Dakota Department of Financial Institutions
1200 Memorial Highway
Bismarck, ND 58504
Telephone number: 701-328-9933
http://www.nd.gov/dfi/

Ohio Customers

Ohio Department of Commerce
77 South High Street, 23rd Floor
Columbus, OH 43215-6123
Telephone number: 866-278-0003
https://com.ohio.gov/

Oklahoma Customers

Oklahoma Banking Department
2900 North Lincoln Boulevard
Oklahoma City, Oklahoma 73105
Telephone number: 405-521-2782
https://www.ok.gov/banking/

Oregon Customers

Oregon Department of Consumer & Business Services
350 Winter St. NE
PO Box 14480
Salem, OR 97309
Telephone number: 888-877-4894
http://dfr.oregon.gov/Pages/index.aspx

Pennsylvania Customers

Pennsylvania Department of Banking and Securities
17 N 2nd St #1300
Harrisburg, PA 17101
Telephone number: 717-787-1854
http://www.dobs.pa.gov/Pages/default.aspx

Puerto Rico Customers

Commissioner of Financial Institutions
PO Box 11855
San Juan, Puerto Rico 00910-3855
Telephone Number: 787-723-8445
https://www.ocif.pr.gov/

Rhode Island Customers

Rhode Island Department of Business Regulation, Division of Banking
1511 Pontiac Avenue
Cranston, RI 02920
Telephone number: 401-462-9503
https://dbr.ri.gov/

South Carolina Customers

South Carolina Attorney General: Money Transmitters Division
1000 Assembly Street
Columbia, SC 29201
Telephone number: 803-734-1221
http://www.scag.gov/civil/money-services

South Dakota Customers

South Dakota Division of Banking
Department of Labor and Regulation
1714 Lincoln Ave., Suite 2
Pierre, SD 57501
Telephone number: 605-773-3421
http://www.dlr.sd.gov/banking/

Tennessee Customers

Tennessee Department of Financial Institutions
312 Rosa L. Parks Avenue
Nashville, TN 37243
Telephone number: 800-778-4215
http://www.tennessee.gov/tdfi/

Texas Customers

Texas Department of Banking
If you have a complaint, first contact the consumer assistance division of Monex Inc. at 800-834-2497. If you still have an unresolved complaint regarding the company’s money transmission or currency exchange activity, please direct your complaint to: Texas Department of Banking, 2601 North Lamar Boulevard, Austin, Texas 78705, 1-877-276-5554 (toll free), www.dob.texas.gov
E-mail Address: consumer.complaints@dob.texas.gov

Utah Customers

Utah Department of Financial Institutions
324 State St # 201
Salt Lake City, UT 84111
Telephone number: 801-538-8830
http://dfi.utah.gov/

Vermont Customers

Vermont Department of Financial Regulation
89 Main Street
Montpelier, VT 05620-3101
Telephone number: 888-568-4547
http://www.dfr.vermont.gov/

Virginia Customers

Virginia Bureau of Financial Institutions
1300 E Main St.
Richmond, VA 23219
Telephone number: 804-371-9657
https://www.scc.virginia.gov/bfi/

Washington Customers

Washington Department of Financial Institutions
Washington (WA) Right to Refund – The following applies only to Transactions that are submitted by Senders in the State of Washington: You, the customer, are entitled to a refund of all monies received for transmittal within ten (10) days of receipt of a written request for refund unless any of the following occurs: i. The monies have been transmitted and delivered to the recipient prior to receipt of the written request for a refund; ii. Instructions have been given committing an equivalent amount of money to the person designated by the customer prior to the receipt of a written request for a refund; iii. Monex Inc. has reason to believe that a crime has occurred, is occurring, or may potentially occur as a result of transmitting money as requested by the customer or refunding the money as requested by the customer; or iv. Monex Inc. is otherwise barred by law from making a refund.
150 Israel Rd SW, Tumwater WA 98501
Telephone number: 360-902-8703
http://www.dfi.wa.gov/

West Virginia Customers

West Virginia Division of Financial Institutions
900 Pennsylvania Avenue, Suite 306
Charleston, WV 25302
Telephone number: 800-642-9056
http://www.dfi.wv.gov/Pages/default.aspx

Wisconsin Customers

Wisconsin Department of Financial Institutions
4822 Madison Yards Way, North Tower
Madison, WI 53705
Telephone number: 608-264-7969
https://dfi.wi.gov/

Wyoming Customers

Wyoming Division of Banking
2300 Capitol Avenue
2nd Floor
Cheyenne, WY 82002
Telephone number: 307-777-7797
http://wyomingbankingdivision.wyo.gov/

Monex USA is committed to serving you securely and seamlessly across the United States. We are proud to be one of the first fully licensed and bonded money transmitters in all US states that require licensing and Washington, DC.

All updated state licenses issued to Monex USA Inc (dba Monex USA) can be viewed here State Licenses

Monex USA is one of the first Money Service Businesses (MSBs) to be fully licensed in all required US States.

We are committed to world-class compliance and protecting your organization with strict adherence to all applicable regulations and codes relating to Anti-Money Laundering and Anti-Terrorist Financing. Monex USA’s policies and procedures were created in order to detect any suspicious activity that may threaten your transmission of funds.

We monitor numerous sanctions lists in order to screen our customer accounts, beneficiaries, and related parties or entities to ensure legal and positive customer relationships. These strict policies are enforced and regularly audited by a dedicated team of AML compliance and legal professionals that are here to keep your money safe.

• Privacy Policy
• State Licensing
• User Agreement

In addition to state licensing, Monex USA is registered with the U.S. Department of the Treasury as a Money Service Business (MSB) and also has oversight by three federal agencies:

• Office of Foreign Assets Control (OFAC) — To comply with restrictions against debarred parties and/or individuals.
• Financial Crimes Enforcement Network (FinCEN) — For ongoing compliance with the Bank Secrecy Act, as mandated by Congress.
• Financial Transactions and Reports Analysis Centre (FINTRAC) — Canada’s financial intelligence unit.

To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

Monex USA offers highly personalized and quality service to all clients. However, if you have a service related issue please contact your Monex USA Account Manager directly or if your service issue requires escalation please contact:

Mr. Will Vigliotta
Head of Operations
Monex USA
1101 K Street NW
Suite 600
Washington, DC 20005
800.834.2497 | wvigliotta@monexusa.com

If your FX Account Manager and the Operational Head cannot successfully resolve your service issue, clients in the following states may escalate their issues directly:

Clients in Alaska with unresolved service issues can contact:

If your issue is unresolved with Monex, 800-834-2497, please submit formal complaints with the State of Alaska, Division of Banking & Securities. Formal complaints must be in writing, please download the form: Alaska General Complaint Form. Formal complaint forms may be submitted via: 1) Fax: 907-465-1230; 2) Email: msb_licensing@alaska.gov; 3) Mail: Division of Banking & Securities, PO Box 110807, Juneau, AK 99811-0807. If you have any questions regarding formal complaints, please call: 907-465-2521.

Clients in California with unresolved service issues can contact:

If you have complaints with respect to any aspect of the money transmission activities conducted at this location, you may contact the California Department of Financial Protection and Innovation at its toll-free telephone number, 1-800-622-0620, by email at Ask.DFPI@dfpi.ca.gov, or by mail at the Department of Financial Protection and Innovation, 2101 Arena Boulevard, Sacramento, CA 95834.

Clients in Colorado with unresolved service issues can contact:

Colorado Division of Banking
1560 Broadway, Suite 1175
Denver, CO 80202
Email: DORA_BankingWebsite@state.co.us
Website: www.dora.colorado.gov/dob

Please write to the Colorado Division of Banking with full details describing the specific service issue you have experienced. Your correspondence should include the following information:

Identify Monex and the names of people you have contacted at Monex. Please include the Monex phone number and address.

Describe your complaint and outline all efforts made to resolve the issue.

Provide copies of all correspondence relating to the specific service issue.

Suggest how you would like the service issue resolved.

Clients in Minnesota:

You may contact us by email at hello@monexusa.com to voluntarily disqualify yourself from sending or receiving transactions with Monex Inc. All requests will expire one year from the date of request, unless requested for longer, or until you terminate the request in writing. Monex Inc. may automatically inform the Minnesota Department of Commerce Financial Institutions Division to include such individual on Minnesota’s “No Transmit List.” The Financial Institutions Division may from time to time provide the “No Transmit List” to us and any individuals on such list shall automatically be a Disqualified User. Please see Minn. Stat. 53B.27, subd. 3 for more information on the “No Transmit List.”

Clients in New York with unresolved service issues can contact:

Unresolved consumer complaints may be mailed to the New York State Banking Department, Consumer Services Division, as set forth in section 1.1 of Supervisory Policy G-1. Monex, Inc. is licensed and regulated by the New York State Banking Department.

Clients in Texas with unresolved service issues can contact:

Monex Inc. engages in the money transmission and/or currency exchange business under Chapter 151 of the Texas Finance Code. If you have a complaint, first contact the consumer assistance division of Monex Inc. at 800.834.2497. If you still have an unresolved complaint regarding the company’s money transmission or currency exchange activity, please direct your complaint to the Texas Department of Banking:

In Person or U.S. Mail
Texas Department of Banking
2601 North Lamar Boulevard
Suite 300
Austin, TX 78705-4294
Telephone Number: 1-877/276-5554 (toll free)
Fax Number: 1-512/475-1313
E-mail Address: consumer.complaints@dob.texas.gov
Website Address: www.dob.texas.gov

Use of a Monex Inc. Account is subject to these terms and conditions:

This User Agreement which is incorporated by reference, governs your use of and access to the Services and Monex Account provided by Monex Inc. dba Monex USA. By applying for, registering for, accessing, or using the Services or a Monex Account, you agree that you have read, accept and agree to be bound by the Agreement as well as Monex’ Privacy Policy (available at https:// monexusa.com/privacy-policy/), which is incorporated by reference. Capitalized terms not defined in the Agreement are defined in the Glossary.

THIS USER AGREEMENT CONTAINS INDEMNITY PROVISIONS, AS WELL AS A CONSENT TO RECEIVE COMMUNICATIONS ELECTRONICALLY IN LIEU OF MAILING YOU PAPER COPIES. We may update or modify this User Agreement without prior written notice at any time and in our sole discretion by posting a revised version on the Monex Inc website (monexusa.com) and/or within the Monex mobile application. We will provide you with notice of such modifications as required by Applicable Law. Any updates or modifications to this User Agreement will be considered effective as of the “Last Updated Date” indicated in the then-current version of the User Agreement. Your continued use of the Services or a Monex Account after the “Last Updated Date” will constitute your acceptance of and agreement to such revised User Agreement.

If you do not agree to this User Agreement, or if you do not agree to any updates or modifications to this User Agreement, you may not apply for, register for, access or use the Services or a Monex Account and must immediately terminate any use of the Services and any Monex Account.

You agree that we shall not be liable to you or any third party in the event we exercise our right to modify or discontinue any of the Services, any portion of the Services, or any Monex Account features.

If you have questions or concerns regarding this User Agreement or your use of the Services, you may contact us at (800) 834-2497 between the hours of 8:30 am and 5:00 pm Eastern Standard Time, weekdays, excluding federal holidays, or email us at hello@monexusa.com.

or purposes of this User Agreement, the following terms shall have the following meanings:

• ACH Network (ACH): The Automated Clearing House network for the electronic funds transfer system governed by the NACHA Rules.
• Applicable Law: All federal, state, or other governmental statutes, codes, ordinances, laws, regulations, rules, guidance, written directives, NACHA Rules, orders, and decrees applicable to the Services.
• Authorized User: An individual authorized by Client to initiate Transactions on behalf of Client.
• Beneficiary: Any third party to which Client instructs Monex to deliver a payment pursuant to a Transaction.
• Beneficiary Data: The depository financial institution account information, routing number, and contact details, and other related information necessary to effectuate the transmission of funds to a Beneficiary per Client’s Instructions.
• Business Day: A day on which commercial banks are open for business (including dealing in foreign exchange) in the place specified for purpose.
• Client: The person, corporation, limited liability company, organization, association, or other legal entity for which a Monex Account application was completed and approved by Monex and to whom Monex provides Services.
• Commencement Date: The date on which Monex first opens Client’s Monex Account.
• Confidential Client Information: Client’s account details with its depository financial institution(s), transaction currencies, amounts, or any other information related to a Transaction.
• Contract Funds: The type and amount of currency the Client agrees to purchase/sell from/to Monex.
• Inbound Transaction: A Transaction involving a payment initiated by a 3rd party that is designated for receipt by a Client.
• Information Provider: Any third-party entity, including stock exchanges and news service providers, who provides Monex, whether directly or indirectly, with Market Information.
• Instruction: A request by Client for Monex to provide Services, including any request for Services made by mail, email, facsimile, telephone, file transfer, a Standing Order, or other means.
• Intellectual Property Rights: Any and all rights arising in the United States or any other jurisdiction throughout the world in and to (a) patents, patent disclosures and inventions (whether patentable or not), (b) trademarks, service marks, trade dress, trade names, logos, corporate names and domain names, and other designations of source, sponsorship, affiliation or origin, together with all related goodwill, (c) copyrights, copyrightable works and other works of authorship (including computer programs), mask works, data, data collections and databases, (d) trade secrets, know-how and other confidential or proprietary information, (e) moral rights, and (f) any and all other intellectual property rights (collectively, “Intellectual Property”), in each case whether registered or unregistered and including all related rights of priority under international conventions, all pending and future applications and registrations and continuations, divisions, continuations-in-part, reissues, extensions, substitutions, re-examinations and renewals thereof, and all similar or equivalent rights or forms of protection in any part of the world.
• Market Information: Information relating to the financial markets, including market data, research, analysis, forecasts and commentary.
• NACHA Rules: The bylaws, operating rules, guidance or other requirement of The National Automated Clearing House Association, as amended from time to time.
• ODFI (Originating Depository Financial Institution): The financial institution that will serve as the originating depository financial institution as defined in the NACHA Rules for any ACH transaction authorized by Client.
• Outbound Transaction: A Transaction involving the transfer of funds from Client’s ODFI to a specified Beneficiary.
• Party or Parties: Individually or collectively, Client and Monex.
• Regulatory Authority: Any federal, state or local government, any state or any political subdivision thereof and any entity exercising executive, legislative, judicial, governmental, or administrative functions of or pertaining to government.
• Services: Whether in the singular or the plural, the services offered by Monex to Client from time to time, which services may include, but are not limited to, the buying or selling of foreign currency, money transfer services, other money transfer products or services requested from or provided by Monex through its platform, including its website, mobile application, API, or any other access points, and any services provided by Monex to Client pursuant to a written agreement or addendum.
• Settlement: The total amount, including the cost of currency acquisition as well as any fees and charges (excluding any fees and charges set forth in any addendum, if applicable), Client owes to Monex for a Transaction, less any partial prepayment and/or additional partial prepayment (margin call/risk exposure top-up payment).
• Settlement Date: The date upon which Client must pay the Settlement.
• Standing Order: Client’s Instruction, which must be delivered to Monex in writing on Client letterhead and signed by Client, to purchase/sell Contract Funds at the Target Rate within the Standing Order Effective Period, without prior oral approval from Client.
• Standing Order Effective Period: The time within which Client has instructed Monex to purchase or sell the Contract Funds at the Target Rate.
• Target Rate: The rate at which Client has instructed Monex to purchase/sell Contract Funds if and when the stipulated rate is purchasable.
• Monex: Monex Inc., its subsidiaries, and affiliates.
• Monex Account: The holding account established by Monex on behalf of Client for the receipt of Client funds that are temporarily held by Monex for the convenience of Client pending receipt from Client of an Instruction, including Beneficiary designation.
• Monex USA: Monex Inc., its subsidiaries, and affiliates
• Monex USA Account: The holding account established by Monex on behalf of Client for the receipt of Client funds that are temporarily held by Monex for the convenience of Client pending receipt from Client of an Instruction, including Beneficiary designation.
• Monex Site: Any means by which Client may access the Monex Services, including a website, mobile application, API, or any other access point.
• Transaction: Any transaction using the Services in accordance with this User Agreement.
• Transaction Date: The date on which Monex executes an Instruction on behalf of Client regarding the receipt or initiation of a Transaction in a particular currency at a specified amount.
• Transaction Receipt: A receipt for a Transaction that sets forth a confirmation number; the respective names of the Parties; the respective amounts and currencies bought and sold; the rate of exchange; the value date; and the date the Settlement is due Monex.

1.0. This User Agreement takes effect on the Commencement Date and will continue for an indefinite period of time until terminated in accordance with their provisions.

1.1. When entering into this Agreement, you provide information to Monex in order to apply for a Monex Account. As part of this process, Client must provide certain information, including identification information. Client must provide accurate and complete information and must keep all information current. Monex may request additional information about Client and/or a designed Beneficiary when Client applies for a Monex Account or any time thereafter. Examples of such documents or information include but are not limited to government-issued photo identification, business invoices, banking statements or other financial or business information that may reasonably allow Monex to confirm Client’s identity, validate the purpose of Client’s Transaction or authenticate Client’s funding source. By accepting this User Agreement, Client authorizes Monex to make inquiries with certain third parties, such as credit reporting agencies or other information providers, that Monex may deem necessary to verify Client’s identity. To the extent any information provided to Monex is Confidential Client Information, please see Section 18.

1.2. Client may maintain a balance in its Monex Account for a maximum of ninety (90) days. Client shall be responsible for all risks (e.g., volatility of the foreign currency market) associated with Client maintaining a balance in a Monex Account in one or more foreign currencies. If Monex does not receive a timely Instruction for the disposition of such funds, those funds will be converted to USD at the then-prevailing exchange rate(s) and returned to Client. Client may request to extend this period by phone call or email to a Monex representative.

2.0. Upon entering into this User Agreement, Client authorizes Monex to accept, act and rely upon any Instruction that is reasonably believed to have been initiated by Client.

2.1. The time of contracting of a Transaction is upon verbal, written, or electronic acceptance by Client, not upon receipt of the Transaction Receipt. Verbal acceptance includes, but is not limited to, orally over the telephone. Written acceptance includes, but is not limited to, email and fax. Electronic acceptance includes but is not limited to, clicking a button or other form of electronic confirmation on the Monex Site.

2.2. By submitting Instructions or initiating a Transaction, Client makes a request that Monex process the Transaction. Monex may accept or reject this request at its sole discretion. It is Client’s sole responsibility to ensure that all information contained in the Instructions for each Transaction is complete, accurate, and, if in writing, legible. Client must immediately inform Monex of any error in the initial Instructions. Monex shall not be liable for damages, losses, costs and expenses in connection with any incomplete, incorrect, or erroneous Instructions provided by Client to Monex.

2.3. If Client does not provide a timely and complete Instruction, Monex will place any incoming funds into the Client’s Monex Account. If no Instructions are received within ninety (90) calendar days of placing funds in Client’s Monex Account, funds will be returned to Client’s bank account and any loss will be deducted from the amount returned to Client.

2.4. Monex will provide Client with a Transaction Receipt for each Transaction, which will be displayed, faxed, emailed, or mailed to Client after the Transaction has been completed. The Transaction Receipt will be in English. Transaction Receipts will be deemed conclusive and binding on Client if not objected to upon receipt with such objection confirmed in writing within (1) Business Day after dispatch of the Transaction Receipt by a Monex representative. Contact info can be found at https://monexusa.com/contact/. The Transaction will not be invalidated if for any reason the Transaction Receipt is not displayed, emailed, faxed, mailed or presented to Client, including as a result of any computer malfunction. If for any reason the Transaction Receipt is not received by or presented to Client, the Transaction Receipt in Monex’ possession with respect to that Transaction will constitute conclusive evidence of the terms of the Transaction and may be used as evidence in any dispute arising with respect to the Transaction. If a Transaction Receipt is not received or presented to Client for any reason, the Client should notify Monex immediately by contacting a Monex representative at fxorders@monexusa.com to request a Transaction Receipt.

2.5. Once a Transaction has been entered into, Client must pay the Settlement on the Settlement Date specified in the related Transaction Receipt. Client must ensure that any Monex Account from which Client’s settlement obligations under a Transaction are to be satisfied contain sufficiently cleared funds to settle the Transaction. If the Monex Account does not contain sufficiently cleared funds to settle the Transaction, Client will be liable for any resulting fees incurred by Monex in connection with such insufficient funding and must ensure that cleared funds are immediately provided. Client agrees that Settlement amounts shall not be recallable by Client without Monex’ prior written consent.

2.6. If Client specifies in its Instructions a Transaction Date that is not a Business Day in the jurisdiction where the Beneficiary of the Transaction is located, the Transaction Date for the Transaction will be the next Business Day, notwithstanding anything to the contrary in the Transaction Receipt and subject to Client meeting its Settlement obligation.

2.7. Monex will use its reasonable efforts to process a Transaction on the same day it is submitted; however, Monex cannot control and will not be responsible for the time it takes financial institutions to process the Transaction.

2.8. Client understands that Monex will charge certain fees for the Services, which shall be specified by Monex or otherwise disclosed to Client before the Client enters into a Transaction. Monex may change the fees charged for the Services and for subsequent Transaction at its sole discretion at any time.

2.9. Any check issued by Monex in favor of Client which is lost, stolen, or destroyed in transit must be reported by Client to Monex within thirty (30) calendar days of such occurrence. Upon receipt of a signed indemnity agreement from Client affirming that Client has not received value for such item, Monex will issue and deliver to Client a replacement item of the applicable value.

2.10. Client acknowledges that Monex is not a depository institution and is not insured by a government entity. Client further understands that no interest will be paid by Monex to Client with respect to any funds held by Monex in a Monex Account or as margin for forwards.

2.11. If Client has a dispute with a Beneficiary or financial institution concerning a Transaction made via the Services, Client agrees to settle the dispute directly with the Beneficiary or financial institution.

2.12. Client is solely responsible for maintaining the confidentiality of its username, password and any other information it holds for its Monex Account. Monex has the right to disable any username or password, whether chosen by Client or allocated by Monex, at any time, if in Monex’ reasonable opinion, Client has failed to comply with any of the provisions of this User Agreement. If Client knows or suspects unauthorized use of Client’s Monex Account or password, or any other breach of security, Client must contact Monex immediately at hello@monexusa.com.

3.0. By issuing a Standing Order to Monex, Client authorizes Monex to accept and act in accordance with the Standing Order to purchase/sell funds at a specified Target Rate. Every Standing Order shall be effective only after Monex has received it and has had a commercially reasonable amount of time to act upon it.

3.1. If the terms of the Standing Order are met by the end of the Standing Order Effective Period, Monex will send to Client a Transaction Receipt. If the terms of the Standing Order are not met by the end of the Standing Order Effective Period, the Standing Order will expire. Client agrees to review each Transaction Receipt and immediately inform Monex of any errors.

3.2. To cancel a Standing Order, Client must send written notification before Monex purchases any funds pursuant to the Standing Order. If no such notice is received, the Standing Order will be presumed to be valid, current, and enforceable.

3.3. If the Target Rate does not become purchasable during the Standing Order Effective Period, the Standing Order will be canceled and no funds will be purchased.

4.0. Client acknowledges and agrees that once a Transaction has been entered into, any cancellation of the Transaction will be entirely within the sole discretion of Monex, subject to Applicable Law. In the event that Client wishes to request that Monex cancel a Transaction, Client must notify Monex prior to Monex initiating the Transaction by contacting a Monex representative at fxorders@monexusa.com. Notwithstanding anything to the contrary contained herein, Client acknowledges and agrees that although Monex may attempt to cancel a Transaction following Client’s request to cancel, Transactions that have already been initiated by Monex pursuant to Client’s Instructions may not be able to be canceled or returned and Transactions that have already been delivered to a Beneficiary pursuant to Client’s Instructions cannot be canceled or returned.

4.1. If Client fails to meet its Settlement obligation of the Transaction on the Settlement Date, Monex may, in its absolute discretion, cancel the Transaction, without limiting any other remedies that it may have.

4.2. If the Transaction is cancelled by Monex for a reason described above, Client agrees to reimburse Monex for any losses or expenses incurred by Monex as a result of the Transaction being cancelled, including breakage costs and trading losses. In the event there is a profit on the date of cancellation, Client agrees that the profit will belong to Monex.

5.0. Notwithstanding that an exchange rate is agreed at the time of contracting in relation to a Transaction, Monex cannot guarantee the same exchange rate in relation to any other Transaction. Rates are quotes, not guarantees, and will only be finalized upon completion of all Monex Account documentation and review.

6.0. Client acknowledges and agrees that in cases where Transactions are not made through the Monex website or mobile application, the Transaction Receipt will be sent to the email address provided. In the event that no email address is provided, the Transaction Receipt will be sent to the mailing address provided by regular mail/postal service. Client is responsible for ensuring that the email address and mailing address specified are accurate and up to date at all times.

6.1. Transaction Receipts that may be sent by email, or mail, including any information transmitted with it, are intended for the use of the addressee(s) and are confidential. If Client is not the intended recipient, then review, disclosure, conversion to hard copy, dissemination, reproduction or other use of any part of the communication is strictly prohibited, as is the taking or omitting of any action in reliance upon this communication. If Client receives a communication in error or without authorization, Client will notify Monex immediately and delete the entire communication from any mobile device, computer, storage drive, or other storage medium.

7.0. Unless otherwise provided in this User Agreement or agreed in writing between Monex and Client, Client agrees to promptly deliver Settlement to Monex in immediately available funds. If Client does not deliver Settlement within five (5) Business Days following Client’s Instruction to purchase/sell the Contract Funds, Monex shall have the right to suspend or ultimately terminate the Services, net out or set-off any amounts Monex owes to Client against any and all amounts owed or that may be owed to it by Client, including any fees, losses or indemnities, and/or initiate any proceedings necessary to recover any balance due. Such steps shall be at the sole discretion of Monex, and Client agrees to the following:

(i) Monex shall have no liability to Client, and Client waives any claim or action against Monex, in the event of such suspension or ultimate termination; and

(ii) to indemnify and hold Monex harmless from any and all liability, claims, damages, and costs, including all reasonable fees, including attorneys’ fees, incurred by Monex resulting from Client’s failure to pay and Monex’ effort to collect any balance due.

7.1. Upon the insolvency of Client or commencement of bankruptcy proceedings or receivership by or against Client, Monex has the right (at its sole discretion and without notice) to terminate, liquidate or accelerate this User Agreement, and to net out or set-off any amounts owed to Monex by Client against any amounts Monex may owe to Client.

7.2. Client agrees to be bound by any debit Instruction(s), whether authorized or not, issued in its name and acted upon by Monex, and Client agrees to indemnify Monex and hold it harmless from and against any and all liability and expense incurred by Monex in connection with its execution of a debit Instruction(s) believed by Monex to have been issued by an Authorized User. In the event Client elects not to use or adhere to the security procedures described in this User Agreement, Client shall remain liable as set forth above for any debit Instruction(s) issued in its name, whether authorized or not, and acted upon by Monex in good faith. Client agrees that Monex and Client’s depository financial institution are authorized to credit Client’s account with the depository financial institution from time to time in the event that credit adjustments become necessary. Client authorizes Monex to communicate with Client’s depository financial institution as necessary to effectuate the Services contemplated in this User Agreement.

7.3. Client shall provide prior written notice to Monex if Client changes the account(s) at its depository financial institution(s) from which Monex has been granted the authority to initiate electronic debits. If no notification is received and funds are debited from an inactive account, the liability will remain with Client including any fees associated with insufficient funds.

7.4. If as a result of an error or omission caused by Monex, Monex incorrectly debits Client’s depository financial institution account in an amount that exceeds the value of Settlement, Monex shall return to Client the over debited amount (i.e. the difference between the amount debited and the amount of Settlement). Return of funds will be made within five (5) Business Days of Monex receiving written notice of the over-debit. Return of the over debited amount shall be Client’s sole and exclusive remedy for any such error or omission. If as a result of an error or omission caused by Monex, Monex incorrectly debits Client’s depository financial institution account in an amount that is less than the value of Settlement, Client hereby authorizes Monex to initiate an additional debit(s) from Client’s depository financial institution account for the additional funds owed by Client to Monex to complete said Transaction.

7.5. In the event any check delivered or electronic debit authorized by Client is dishonored by Client’s depository financial institution, Monex will charge, and Client agrees to pay, all processing costs associated with each returned check or rejected electronic debit.

7.6. Client agrees and acknowledges that in the event Client provides Instructions to Monex for a payment to a U.S. Beneficiary via the ACH Network, such Transaction shall be subject to the Electronic Funds Transfer Act, Article 4a of the Uniform Commercial Code, and the NACHA Rules, and that Client is designated as originator of such Transaction, as defined by the NACHA Rules, and shall be bound by the NACHA Rules to the extent applicable to the Transaction. Client agrees that Instructions to Monex shall constitute authorization to Monex’ ODFI to originate an ACH entry on Client’s behalf and Client agrees to assume all obligations of an originator under the NACHA Rules and shall in no event authorize a Transaction in violation of the laws of the United States. The ODFI may suspend or terminate Client’s right to submit ACH entries for breach of the NACHA Rules in a manner to permit the ODFI to comply with the NACHA Rules. Monex and/or its ODFI may audit Client’s compliance with this User Agreement as it pertains to this Section.

8.0. Market Information provided by Monex through any means has been independently obtained from various Information Providers through sources believed to be reliable. Neither Monex nor the Information Providers guarantees the timeliness, sequence, accuracy, completeness, or fitness for a particular purpose of any Market Information provided by Monex. The Market Information may include views, opinions, and recommendations of third-party individuals or organizations. Client understands that neither Monex nor the Information Providers endorses such views, opinions or recommendations.

8.1. Client represents and warrants that it is not relying on any communication (written or oral) of Monex as investment advice, as recommendation to enter into a Transaction, or an assurance of expected results of a Transaction, and that each Transaction entered into by Client will be based upon Client’s own judgment and upon advice from such third-party advisors as Client has deemed necessary. Client acknowledges that Monex is not acting as a fiduciary or advisor with respect to any Transaction and Monex is not providing any investment, tax, accounting or legal advice to Client.

9.0. Monex may modify any or all of Monex’ systems and/or Services at any time. The Monex system(s) and/or Services may periodically be unavailable to Client during Monex’ normal hours of operation in order to allow for maintenance, updates or other causes. Monex shall not be responsible for any consequences arising from Client’s inability to access the Services when Monex has, in its sole discretion, determined to make the Services unavailable for maintenance, updates, or other causes. In no event will Monex be responsible for delays or failures in performance resulting from acts beyond Monex’ reasonable control.

10.0. Monex can terminate this User Agreement and/or suspend or terminate Client’s access to the Services or its Monex Account, in whole or in part, at any time, without notice, unless otherwise required by Applicable Law. In addition, Monex may terminate or suspend Client’s access to the Services or its Monex Account if: (i) Client breaches any provision of this User Agreement; (ii) Monex reasonably believes that Client is in breach or violation of Applicable Law; (iii) Monex suspects fraudulent or illegal activity in connection with Client’s use of the Services or Client’s Monex Account; or (iv) Client Monex is directed or requested to do so by any Regulatory Authority. Client acknowledges that it will continue to be responsible for its obligations related to Transactions and its Monex Account following termination of this User Agreement.

10.1. If you want to terminate this User Agreement and close your Monex Account, Client must call 1-800-834-2497. Following the completion of any pending Transactions and the payment of all outstanding amounts owed to Monex, we will send the remaining balance in your Monex Account to an account designated by you at your sole cost and expense. To request reinstatement, Client must call 1-800-834-2497. If reinstated, the then-current version of this User Agreement will control. In no event shall Monex be obligated or required to reinstate a Client or reopen Client’s Monex Account.

10.2. If Client does not access its Monex Account through the Services for a period of twelve (12) consecutive months, Monex may suspend Client’s access to the Service, including its Monex Account, without notice. Client may request a reinstatement in accordance with Section 10.1 above. Monex may be required to escheat funds in a Monex Account in accordance with Applicable Law.

10.3. If a check remains uncashed for a period of six (6) months, as measured from the date on the check, Monex will notify Client of the uncashed check(s). If Client does not respond to Monex’ notice and provide Monex with an Instruction for the disposition of such funds (e.g., request that Monex stop payment on the uncashed check), Monex may be required to escheat the funds in accordance with Applicable Law.

10.4. All applicable provisions of this User Agreement will survive termination by Client or Monex, including, without limitation provisions related to: (i) Intellectual Property; (ii) warranty disclaimers; (iii) limitations of liability; (iv) indemnification; and (v) Client payment obligations.

11.0. This User Agreement, as amended by Monex from time to time, shall constitute the entire agreement between the Parties concerning the subject matter hereof and supersede all prior agreements between the Parties concerning the subject matter hereof. In the event of any conflict or ambiguity between the provisions of this User Agreement and any other agreement (e.g., a previously executed confidentiality agreement), the provisions of this User Agreement shall control.

11.1. The terms of each Transaction set out in the related Transaction Receipt are incorporated into and form part of this User Agreement. In connection with the provision of the Services, the Parties may enter into separate contracts (the “Ancillary Contracts”), including a Master Foreign Currency Forward Contract or Commercial Credit Agreement, each of which will be incorporated into and form part of this User Agreement.

12.0. Client acknowledges that the content, format, and presentation of the material in relation to the Services that Monex provides and the Market Information that Monex makes available to Client under this User Agreement may contain Intellectual Property which is either Monex’ property or licensed to Monex. In no event will Client have or acquire any rights to or in respect of the Intellectual Property mentioned herein.

12.1. Client acknowledges that the Monex Inc website (monexusa.com) and mobile application contain material which is copyright of Monex and Client acknowledges that it will not acquire any rights to such material by downloading it.

13.0. Client agrees not to use the Services to make payments for any illegal purpose. In addition, Client certifies that it will not use the Services in violation of Applicable Law. In the event Client enters into or attempts to enter into any prohibited transaction, Monex reserves the right in its sole discretion to suspend and/or terminate Client’s access to the Services. Client acknowledges that any Instruction issued by Client pursuant to this User Agreement will be binding upon and enforceable against Client and does not violate the terms of any other agreement to which Client is bound.

13.1. Client represents and warrants that it is acting as a principal and has legal title to all funds used in connection with the Transactions, and that any Transaction is being undertaken in accordance with Applicable Law. Client represents and warrants that Client has entered into this User Agreement for lawful and commercial purposes connected with Client’s business and not for the purpose of investment or speculation. Client represents and warrants that each use of the Services by Client is exercised in connection with Client’s line of business and to manage the risk associated with an asset or liability owned or incurred, or reasonably likely to be owned or incurred, in the conduct of Client’s business. Client further represents and warrants that all funds used in each Transaction are of legal origin and were not obtained through criminal activity of any kind.

13.2. Client represents and warrants that the individual initiating the relationship with Monex has the authority to bind Client to this User Agreement and that the person initiating the relationship with Monex is authorized to act on Client’s behalf.

13.3. Client understands that Monex takes appropriate measures to ensure that it is not participating or assisting in money laundering or terrorist financing. Client agrees that Monex, at its sole discretion, may disclose any Transaction-related information in order to satisfy Monex’ legal obligations under Applicable Law, including to the Financial Crimes Enforcement Network, pursuant to anti-money laundering, trade and economic sanctions laws and/or regulations, or as may otherwise be required by Applicable Law or court order. Furthermore, such disclosure may be made to any governmental agency, body, or department that exercises regulatory or supervisory authority with respect to Monex’ operations, where such disclosure is made to satisfy routine governmental audit or examination requirements or as part of informational submissions required to be made to such governmental entities in the ordinary course of business.

13.4. Upon request, Client agrees to provide any additional information that Monex may need to satisfy its obligations under Section 13.3.

13.5. Monex may terminate this User Agreement and/or cancel or reject any Instruction at any time, with or without notice, in the event of any regulatory non-compliance by Client or if otherwise required to comply with Applicable Law.

13.6. Monex may terminate this User Agreement if it reasonably believes that Client is attempting to or has accepted or received any bribes, gifts or other improper payments in connection with the Services.

14.0. Client agrees to indemnify and hold Monex harmless for any damages, losses, costs and expenses incurred by Monex in connection with any Instruction made by Client or Monex’ reasonable actions in response to receiving an Instruction from Client, unless such damages, losses, costs and expenses are caused by Monex’ gross negligence or intentional misconduct. Monex shall not be liable for damages, losses, costs and expenses in in connection with any incomplete, incorrect, or erroneous Instructions provided by Client to Monex.

14.1. Client understands that the Services are provided on an “as is” basis, without warranty of any kind, either expressed or implied.

14.2. Monex does not warrant any aspect of the underlying Transaction(s), including, for example, whether goods or services for which payment is being made are conforming or satisfactory or whether payment has been made in the right amount or within the time agreed between Client and Beneficiary. Monex will transmit the specified funds in their exact terms to the exact Beneficiary in question at the currency rate given at the time of Transaction.

14.3. Monex expressly disclaims any liability for errors, omissions, interruptions to the Services, and any representations or warranties, express or implied, including to any warranties of merchantability, fitness for a particular purpose, non-infringement and performance. Client agrees that Monex shall not be liable for any errors or losses caused by third parties, including any depository institution.

14.4. Client agrees that Monex, its affiliates, its suppliers, vendors, service providers, service companies, or their respective subsidiaries, officers, directors, agents, partners, employees or consultants shall not be liable to Client for any indirect, incidental, consequential, punitive, special or exemplary damages, arising from or in connection with the Services or this User Agreement (however arising, regardless of the nature of the claim or the form of cause of action), including negligence, damages for loss of profits, goodwill, use, data or other intangible losses and regardless of whether Monex has been advised of the possibility of such damages. Unless required by Applicable Law, under no circumstances shall Monex’ liability to Client or any third party for any damages or losses of any kind whatsoever (however arising, regardless of the nature of the claim or the form of cause of action, including negligence), exceed the sum of (i) the U.S. dollar value as of the Transaction Date of the relevant Transaction, and (ii) the amount of any fee or commission charged and collected by Monex in connection with the relevant Transaction. For claims unrelated to a particular Transaction, Monex’ maximum liability hereunder shall not exceed a sum equal to the fees charged by Monex to Client in the six (6) month period prior to the date on which the claim arose. Client expressly agrees that any claim for damages or losses of any kind whatsoever arising hereunder must be asserted within twelve (12) months of the circumstances that allegedly caused the incident giving rise to the claim.

14.5. For the avoidance of doubt, nothing in this Section 14 shall be construed as giving rise to liability under a force majeure event, the occurrence of which shall not make Monex liable to Client for damages of any kind.

15.0. Monex may need to provide you with certain communications, notices, agreements, Transaction Receipts, updates, or other disclosures in writing (“Communications”). You agree and consent to receive Communications electronically and confirm your ability to do so. Monex may provide these communications to you by posting them on its website, in its mobile application, or by emailing them to you at the address listed in your Monex Account application. You also agree to the use of electronic signatures in our relationship with you. If you choose not to agree to the terms of this paragraph or you withdraw your consent, you may be restricted from using the Services. You may withdraw your consent by contacting Monex at the address below.

15.1. To access and retain electronic Communications, you will need the following computer hardware and software:

A computer with an Internet connection with a current web browser or a mobile device with a current operating system that is capable of receiving, accessing, displaying, and either printing or storing Communications received from us in electronic form.

A valid email address (your email address that you have on file with Monex).

Sufficient storage space to save past Communications and/or to print them.

15.2. You have the right to request a paper copy of a Communication we previously sent you within 180 days of the date we provided the Communication to you. To request a paper copy, you must contact us as described below. We will send your paper copy to you by U.S. mail. If you request paper copies, you understand and agree that Monex may charge you a fee for each Communication. For the avoidance of doubt, requesting a paper copy of any Communication, in and of itself, will not be treated as withdrawal of consent to receive electronic Communications.

15.3. Notices or requests which Client needs to deliver to Monex must be delivered as follows:

Monex Inc.

1101 K Street NW, Suite 600

Washington, D.C. 20005, USA

Email: fxorders@monexusa.com

15.4. Client acknowledges and agrees that communication by email or its use of the internet will be at Client’s own risk and expense.

15.5. Communications and notices required or permitted under this User Agreement shall be deemed delivered when hand-delivered to the receiving person, upon delivery via certified mail (return receipt requested), upon electronic transmission via email, upon delivery via a national or international package delivery company (return receipt requested or delivery confirmation received), or when such delivery is made to the address first set forth in the Monex Account application. Any Party may change its address for purposes of this notice provision by giving notice in the manner prescribed above.

16.0. This User Agreement will be governed by and construed in accordance with applicable federal laws and the laws of the District of Columbia, without regard to the laws of conflicts.

16.1. The Parties agree to be subject to the jurisdiction and venue of the district and federal courts of the District of Columbia with respect to any disputes arising out of this User Agreement.

16.2. In the event of any dispute, controversy or claim arising out of or relating to this User Agreement, Client’s use of the Services, any Transaction, or the breach, termination or validity of the User Agreement (“Dispute”), the Parties shall attempt to promptly and in good faith resolve any such Dispute within ten (10) days following a Parties’ receipt of a notice detailing a Dispute.

17.0. Each Party represents that it has all permissions and authorities necessary to enter into and be bound by this User Agreement, and that the use of the Services in accordance with this User Agreement will not conflict with another agreement to which it is a party.

17.1. Client represents and warrants that the financial and business information submitted by it (and all updates) was (or will be) accurate and complete when submitted. Client agrees to inform Monex immediately of any material change in its financial condition and to update Monex on such matters annually.

18.0. Client agrees that all Monex webpages (including service marks, logos and trademarks), Services, mobile applications, process, and systems are Monex property and protected by copyright law or other intellectual property laws. Client may not:

(i) reproduce any part(s) thereof in any form;

(ii) create any derivative work based thereon; or

(iii) incorporate the site into other websites, electronic retrieval systems, publications or otherwise.

Provided Client agrees to comply with this User Agreement, Client may be permitted to view, use, and download a single copy of any webpage(s), (but not any applications, processes or systems) for the purposes of its internal recordkeeping and accounting for Transactions.

18.1. Client acknowledges and agrees that all copyright and other Intellectual Property Rights in and to any deliverables produced by Monex in carrying out any of the Services for Client (including reports, compilations or databases in any and all media) shall be the property of Monex. Client shall be permitted to use such reports, compilations or databases for its own internal business purposes but it shall not disclose, disseminate, sell or otherwise make any such deliverables available to any third party whether in whole or in part, without the express written consent of Monex.

18.2. Client acknowledges that, in order for Monex to perform any of the Services hereunder, it will be necessary for Client to provide Monex Confidential Client Information. For the avoidance of any doubt, Confidential Client Information does not include information that is or has become publicly known, has been independently developed by Monex without use of any Confidential Client Information, or is received from a third party about Client.

18.3. Monex shall not disclose, sell or otherwise transfer Confidential Client Information to any third party other than its contractors, business partners, affiliated entities, financial institutions, and regulators (if necessary) provided, however, that Monex shall have the right to disclose such information to any third party if such disclosure is required by Applicable Law.

18.4. Monex, in its sole discretion, may contact any Beneficiary to effectuate the delivery and provision of the Services, including the ongoing maintenance of Beneficiary Data. Nothing contained in this User Agreement is intended or shall be construed to (i) preclude, restrict or prevent Monex from establishing or maintaining with any Beneficiary a commercial relationship that is separate and distinct from the Services provided to Client hereunder or (ii) relieve Client of its responsibility to ensure the accuracy of all Beneficiary Data contained in any Instruction. Client further acknowledges that Monex already holds and maintains Beneficiary Data for an extensive compilation of Beneficiaries and, therefore, Client’s right to any particular Beneficiary Data shall not be exclusive. Monex agrees that any Beneficiary Data received from Client shall not be disclosed to any third party, except as necessary to deliver the Services, for Monex’ own business purposes, including conducting surveys to ascertain Beneficiary satisfaction with the Services, marketing the Services to any Beneficiary or as otherwise contemplated under this User Agreement.

18.5. Client’s personal information is processed pursuant to Applicable Law and controlled by Monex. Monex uses personal information the Client provides to Monex when using Monex’ products and Services, as well as other information that is collected or generated during Monex’ relationship with Client. This information is used to provide Client with the Services Client agreed to and activities like administration, customer service, anti-money laundering duties, validation of Client details, analysis and research, prevention and detection of fraud, debt and theft recovery, and to help Monex improve its products and services and operations.

18.6. Monex may also use, collect from and share with other businesses who work with Monex, information from other products and services and convenience, which Client has registered for during Client’s relationship with Monex. Monex will hold and retain the information that Client gives Monex about another person including the details of any of Client’s nominated Beneficiaries in order to execute the Transaction. It is the Client’s obligation to ensure prior to providing this information that Client has notified and secured authorization from the other person on Monex’ use and disclosure of this information as set out in this section.

18.7. Monex may transfer information to affiliates in countries other than the country in which the information was originally collected or created, including to affiliates in the United States. Monex may also provide the information to other organizations that help Monex run its business, if there is a reasonable need, to carry out or aide the Services, future services, or for any of the reasons or uses set out in this Section. Monex may add to information Client provides with information from available other business or individuals, including information to validate the accuracy of Client information provided by Client. Monex may disclose personal information, including without limitation, name, customer ID number, address, transaction patterns, and bank account information, (i) if required to do so by domestic or foreign law or legal process or (ii) to law enforcement authorities or other government officials (including those in this country, the United States, or elsewhere) for purposes such as detecting, investigating, prosecuting and preventing crimes, including money laundering and related criminal activity, and the recipients may further disclose the information for these and other related purposes.

18.8. The information Monex holds may be accessed by Monex and its affiliates including any authorized Monex third–party service providers for any of the purposes set out in this Section or for other purposes to which Client has agreed. Client has a right to ask Monex to see and get a copy of Client’s information, for which Monex may charge a small fee to cover administrative costs. Client can also correct, erase or limit Monex’ use of the information which is incomplete, inaccurate, or out-of-date. Client may object at any time on legitimate reasons to the use of Client’s information, where the processing is not required to complete the Service, or required by Applicable Law. If Client wishes to exercise these rights or no longer wish to receive commercial communications from Monex, Client must contact Monex by emailing aml@monexusa.com or writing to the address:

Monex Inc.

1101 K Street NW, Suite 600

Washington, D.C. 20005, USA

Attention: COMPLIANCE DEPARTMENT

19.0. Monex and Client agree that money damages may not be a sufficient remedy for breach of the confidentiality and license undertakings in this User Agreement. Accordingly, in addition to all other remedies, each Party shall be entitled to seek specific performance and injunctive or other equitable relief as a remedy for any breach of those provisions. Client and Monex agree to waive any requirement for a bond in connection with the granting of any such injunctive or other equitable relief.

19.1. Except for the obligation to pay for Services delivered, nonperformance of either Party shall be excused to the extent that performance is rendered impossible by a strike, fire, flood, other natural disaster, pandemic, governmental act, act of terror, order or restriction, failure of supplier(s), act of God, or any other reason where failure to perform is beyond the control and not caused by the negligence of the non-performing Party.

19.2. Client understands and agrees that telephone communications with Monex may be monitored and/or recorded for the protection of Client and Monex. These calls may be used for training purposes and shall be considered Confidential Client Information to the extent that the information contained therein does not become public. Client further understands and consents to Monex and/or its affiliates placing telemarketing calls and text messages to Client using an automatic telephone dialing system and/or an artificial or prerecorded voice. Consent is not required to use the Services, and Client may revoke this consent at any time by contacting Monex at hello@monexusa.com.

19.3. Client understands and agrees that, to the extent possible, Monex will respond to any Client request for copies of Transaction Receipts for a period of five (5) years following the date of the Transaction. Client acknowledges and agrees that any costs associated with retrieving and providing such information will be billed to and payable by Client.

19.4. Client shall be responsible for remitting to the appropriate tax authority any taxes that may apply to any Transactions initiated in connection with the Services. Client acknowledges that Monex shall not be responsible for determining what, if any, taxes apply to Client’s Transactions or other payments made in connection with this User Agreement.

19.5. Monex and Client shall each act at all times as independent contractors and nothing contained in this User Agreement shall be interpreted, construed or implied to create any agency, partnership or joint venture between Monex and Client. Nothing in this User Agreement shall be interpreted, construed or implied as creating or establishing the relationship of employer and employee between Monex and Client. At no time shall either Monex or Client make commitments for or in the name of the other.

19.6. Neither Party may use the Party’s name in news releases, articles, brochures, marketing materials, advertisements and other publicity or investor promotions without the prior written consent of the other Party.

19.7. If for any reason a court of competent jurisdiction finds any provision of this User Agreement, or portion thereof, to be unenforceable, that provision shall be enforced to the maximum extent permissible so as to affect the intent of the Parties, and the remainder of this User Agreement shall continue in full force and effect.

19.8. Any failure by either Party to require strict performance by the other of any provision of this User Agreement shall not constitute a waiver of such provision or thereafter affect the Party’s full rights to require strict performance.

19.9. Client may not transfer or assign its rights or obligations under this User Agreement without Monex’ prior written consent. Monex shall have the right to transfer or assign some or all of its rights and obligations under this User Agreement to any party. This User Agreement shall be binding upon and inure to the benefit of the Parties and their permitted successors and assigns.

19.10. The Parties do not intend for any provision of this User Agreement to be enforceable by any person or entity that is not a party to this User Agreement.

19.11. The headings of several sections are inserted for convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this User Agreement.

19.12. Signatures transmitted by facsimile or scanned email copy shall be enforceable against the transmitting Party in the same manner as the original signature of such Party, with any requirement that the existence of the original signature be established hereby waived.

19.13. Monex does not knowingly collect, either online or offline, personal information from persons under the age of eighteen. You must be at least eighteen (18) years old to conduct business with Monex. You must be able to form legally binding contracts under Applicable Law. Other restrictions may apply.

19.14. In accordance with the Unlawful Internet Gambling Enforcement Act of 2006, Monex strictly prohibits conducting any and all business that is engaged in betting or wagering from knowingly accepting payments in connection with the participation of another person in unlawful gambling. Monex does not provide any services to gambling clients including casinos or other gaming institutions, including online gambling-related operations. Monex also strictly prohibits any and all business related to offshore companies, online pharmacies– except for well-known national chains, online adult-related operations, unlicensed alcohol and tobacco companies, outbound telemarketing, escort services, and online payday lenders.

19.15. The Services may contain links to other independent websites operated by an unrelated third party. Such websites are provided solely as a convenience to Client. Monex has no control over the contents of such websites and assumes no responsibility for nor endorses any content included on any such website. Client must exercise its own independent judgment in deciding whether to interact or use a third party’s website. Monex will not be liable for any loss or damage that may arise from Client’s interaction or use of them.

19.16. The Services are accessible via a mobile device. Initiating a transaction through a mobile device may result in the imposition of wireless carrier’s standard charges, data rates, and fees. Your access to the Services using a mobile application may be subject to applicable third-party provider’s terms of service.

Monex Inc. is committed to respecting your privacy and complying with applicable laws and regulations to ensure that the personal information you give us is kept appropriately secure and processed fairly and lawfully.

Monex Inc. is a company incorporated and registered in the United States of America (referred to in this Policy as “we, “us” and “our”). Your personal information will be held and managed by Monex Inc. By visiting and using our website or mobile site (www.monexusa.com) (“Site”) or any application (“Application”) that we make available for interacting with our content and/or services or by contacting our client support team, you acknowledge that you have read this Privacy Policy.

This Privacy Policy covers all personal information about you that we collect, use and otherwise process in connection with your relationship with Monex Inc. as a client or potential client. Monex Inc. will collect and use your personal information as described in this Privacy Policy and as permitted by applicable laws, including in circumstances where: (i) it is necessary to provide or fulfill a service requested by or for you; (ii) you have given us your express consent; or (iii) it is necessary for one or more of the following legitimate interests pursued by Monex Inc.:

• To analyze, profile and monitor client patterns and better understand the interests and preferences of our key client audiences so we can consistently improve our products and services.
• To ensure the proper functioning and security of our services by preventing fraudulent transactions.
• To ensure we continue to comply with applicable laws, for example in maintaining the accuracy of our records.

We have strict procedures and security features in place to make every effort to prevent any unauthorized access to your personal information. All information you provide to us is stored on our secure servers. All payment transactions are fully encrypted using Secure File Transfer Protocol (SFTP) via Virtual Private Network (VPN). Although we do our absolute best to protect your personal data, we cannot guarantee the security of your data during transmission, thus any transmission is at your own risk. We restrict access of your personal information to those employees of Monex who have a legitimate business reason for knowing such information. All of our employees are educated and trained about the importance of confidentiality and privacy of customer information. Physical, electronic and procedural safeguards are in place to comply with all relevant laws and regulations and to protect your personal information from unauthorized access.

Monex Inc. is committed to protecting the privacy of our clients. When users provide any personal information to us, they communicate that they are voluntarily providing Monex Inc. with the information. We may collect and use the following data about you and/or your Beneficiary, which may include non-public personal Information:

• Commercial and/or identification information as needed to comply with our anti-money laundering obligations under applicable law;
• Information that you provide us in the course of using the Service, such as your name, mailing address, email address, and telephone number(s). We may also collect certain sensitive information from you including your bank account number, date of birth, tax identification number, payment reason, and geographical location;
• To facilitate our Service, we request certain third party information from you, such as your Beneficiary, Sender’s or Recipient’s full name, mailing address, email address, and telephone number. We may also collect from you sensitive financial information of a Beneficiary or a Recipient, including bank account and routing numbers;
• Information about your usage of the Service, including your transaction history, how you use the Service to send or receive transactions, and to and for whom you transact with;
• Information that we lawfully obtain from third parties, such as identity verification services, electronic database services, and credit reporting agencies;
• Technical information, including the Internet protocol (IP) address used to connect your computer to the Internet, your login information, browser type and version, time zone setting, browser plug-in types and versions, operating system and platform. We do this for fraud prevention, to improve our Service, and to improve our marketing, analytics, or website functionality;
• Recordings of your communications with our offices, including telephone calls and electronic communications for quality and training purposes; and
• Type of device you use, operating system version, and the device identifier.

In providing the personal data of any individual (other than yourself) to us during your use of our Services, you promise that you have obtained consent from such individual to disclose their personal data to us, as well as consent to our collection, use and disclosure of such personal data, for the purposes set out in this Privacy Policy.

We use your information in the following ways:

• To process your transactions;
• To verify your identity;
• To collect payment for your use of the Service;
• To troubleshoot problems with the Service;
• To comply with applicable federal and state laws, regulations, and rules, such as those relating to the Bank Secrecy Act (BSA) and anti-money laundering requirements;
• To manage our Services and for internal operations, including: troubleshooting, data analysis, testing, research, statistical and survey purposes;
• To detect and prevent fraud and other illegal uses of the Service; and
• To provide you service updates, marketing notices, and promotional offers.

We will retain your account information, as needed to provide you Service, as required by applicable law, to resolve disputes and to enforce our agreements. We abide by strict security standards, but if you wish to cancel your account and stop using our Services, contact us at monexusa.com/contact. We will continue to retain your account information after your account is cancelled as required under applicable law, regulations, and rules.

We do not sell or rent the information we collect to third parties for their promotional purposes unless we receive your permission to do so. Nevertheless, we may share information about you or your Beneficiary (including nonpublic, Personal Information) with:

• Third-party service providers under contract with Monex that help us with our business operations, such as transaction processing, fraud prevention, and marketing. We share your Personal Information with these companies only as necessary to provide you with our Service;
• Analytics and search engine providers that assist us in the improvement and optimization of our site; and
• Law enforcement, government officials or other third parties, but only in connection with a formal request, subpoena, court order, or similar legal procedure; or when we believe in good faith that disclosure is necessary to comply with the law, or suspected illegal activity

We may disclose your personal information to third parties in the following ways:

• To comply with any legal obligation, or in order to protect the rights, property, or safety of Monex, our customers, or others. This includes exchanging information with other companies and organizations for the purposes of fraud protection and credit risk reduction;
• To prevent and detect fraud or other illegal activity where we believe it is reasonable and appropriate to do so;
• In response to a subpoena, warrant, court order, or as otherwise required by law;
• To assess financial and credit risk;
• In the event of an acquisition or merger. We shall notify you in the event of such an occurrence and inform you of any choices you may have regarding your personal information by placing a notice on our website; and
• To recover debt or in relation to your insolvency

We do not have a published list of all of the third parties with whom we share your data with, as this would be dependent on your specific use of our Services. However, if you would like further information about whom we have shared your data with, or to be provided with a list specific to you, you can request this by contacting us at monexusa.com/contact.

A cookie is a string of information that a website stores on a visitor’s computer and that the visitor’s browser provides to the website each time the visitor returns. Our Services use cookies to distinguish you from other users. This helps us to provide you with an enhanced user experience and to support us in improving our Services. Cookies may be used to identify visitors, show related content, and to track usage of our website and our online trading platform, Monex Online. You are free to decline the cookies we place if your browser permits, but doing so may interfere with your use of the Service.

In accordance with BSA and FinCEN record keeping requirements, we will keep your information as long as you remain an active client and for 5 years afterwards or otherwise as required for our business operations. We may need to retain certain personal information even once a client account has been closed or deleted to enforce our terms, for fraud prevention, to identify, issue or resolve legal claims and/or for proper record keeping purposes. We may also retain a record of any stated objection to receiving updates, for the purpose of ensuring we can continue to respect your wishes and not contact you further. Your personal information will be deleted or destroyed in a manner that cannot be restored or reproduced (i.e. shredding and electronic wiping). Your data is only accessed internally on an as-needed basis, and it will only be accessed or managed if absolutely necessary.

You may have the right under applicable laws to ask for details of the personal information we hold about you, to amend, limit or delete your personal information, or ask for a copy of the personal information you gave us. You have the right to ask us not to contact you for marketing purposes by unsubscribing, contacting us at monexusa.com/contact. You have the right to correct any personal information we hold on you that is inaccurate or incorrect You have the right to ask us to delete your data when it is no longer necessary, or no longer subject to a legal obligation to which Monex is subject to.

We may amend this policy at any time, and shall notify you by posting a revised version on our Site. Should we make a substantial change to the manner in which we collect, use, or store Personal Information, we shall provide prior notice on our SITE, or by electronic notification.

You can contact us if you have any questions about the way in which your personal information is being collected or used which are not answered by this Privacy Policy. Please contact us by phone +1.202.785.5534, email (hello@monexglobal.com) or on our Site (monexusa.com/contact). If you feel that we have not addressed your questions or concerns adequately, you may make a complaint using the information from our Site at https://monexglobal.com/us/legal/state-contacts

These terms and conditions, together with any other documents referred to herein, are a binding contract between you and Monex Canada Inc. ("We", "Us", or "Our") and set out the terms of use under which you may access and use www.monexcanada.com ("Our Site"). By accessing Our Site you agree to these terms; if you do not agree, do not use Our Site. We may modify these terms at any time without notice.

Monex Canada Inc. is registered as a Money Service Business with FINTRAC (MSB registration number M17698932).

Access to Our Site is free of charge and provided on an "as is" and "as available" basis. For Canadians, use of Our Site is limited to parties that can lawfully enter into contracts under applicable law. You must be at least the age of majority in the province or territory in which you reside.

All content on Our Site, and the copyright and other intellectual property rights in that content, belong to or have been licensed by Us and are protected by applicable Canadian, UK and international intellectual property laws. You may not reproduce, copy, distribute, sell, rent, sub-licence, store, or otherwise re-use content from Our Site without Our express written permission.

You may link to Our Site provided you do so in a fair and legal manner, do not damage or take advantage of Our reputation, and do not suggest any form of association, approval, or endorsement on Our part where none exists.

Information on Our Site is provided for general information only and does not constitute financial, investment, or other professional advice. We make no representation or warranty that Our Site will meet your requirements, be fit for any particular purpose, be compatible with all systems, or be free from errors or viruses.

To the fullest extent permissible by law, We accept no liability for any direct, indirect, or consequential loss or damage arising out of or in connection with the use of Our Site or reliance on any content displayed on it.

These terms and any dispute arising from them are governed by the laws of the Province of Ontario and the federal laws of Canada applicable therein.

Monex Canada Inc. is committed to protecting your personal information in accordance with the Personal Information Protection and Electronic Documents Act (PIPEDA) and other applicable Canadian privacy laws. This Privacy Policy explains how we collect, use, disclose, and safeguard personal information.

We collect personal information necessary to provide our services, comply with legal and regulatory requirements, and improve our operations. This may include identification details, contact information, financial data, transaction history, and information collected automatically when you use our website.

We use your information to provide and administer our services, verify your identity, meet anti-money laundering and other regulatory obligations, prevent fraud, communicate with you, and improve our products and services.

We may disclose personal information to regulators, law enforcement, service providers, affiliates, and other third parties where required or permitted by law, or with your consent. We require service providers to protect your information in accordance with applicable privacy laws.

You have the right to access your personal information, request corrections, withdraw consent (subject to legal and contractual restrictions), and make a complaint about our privacy practices. To exercise these rights, contact our Privacy Officer using the details on our website.

We retain personal information only as long as necessary to fulfil the purposes for which it was collected or as required by law. We maintain physical, technical, and administrative safeguards designed to protect personal information against loss, theft, and unauthorised access.

Cookies are small text files placed on your device when you visit a website. They are widely used to make websites work more efficiently and to provide information to the website operator.

We use strictly necessary cookies to enable core site functionality, performance cookies to understand how visitors interact with Our Site, functional cookies to remember your preferences, and marketing cookies to deliver relevant content. Some cookies are set by third-party services that appear on our pages.

You can control and delete cookies through your browser settings at any time. Please note that disabling cookies may affect the functionality of Our Site. For more information about managing cookies, visit your browser's help documentation.

Monex Canada Inc. is committed to treating all clients fairly and to handling complaints promptly, transparently, and professionally. We value feedback from our clients and treat every complaint as an opportunity to improve our service.

If you have a complaint, please contact your relationship manager in the first instance, or contact us directly by email, telephone, or through our website. Please provide your name, contact details, account information (if applicable), and a clear description of the issue, together with any supporting documentation.

We will acknowledge receipt of your complaint promptly, investigate the matter thoroughly and impartially, and keep you informed of our progress. We aim to provide a full written response within a reasonable timeframe, typically no later than 90 days from the date the complaint is received.

If you are not satisfied with our final response, or if we have not resolved your complaint within the expected timeframe, you may be entitled to refer the matter to the Ombudsman for Banking Services and Investments (OBSI) or, for certain matters, the Financial Consumer Agency of Canada (FCAC). Contact details for these bodies are available on their respective websites.

Our Client Terms & Conditions set out the contractual relationship between Monex Canada Inc. and our corporate clients. They cover account opening, client classification, order handling, settlement, fees and charges, risk disclosures, data protection, and dispute resolution.

Please download and review the applicable document below. By opening an account or instructing us to execute a transaction on your behalf, you agree to be bound by the relevant terms and conditions.

These terms and conditions, together with any and all other documents referred to herein, set out the terms of use under which you may use this website, [www.monexeurope.eu/memsv] ("Our Site"). Please read these terms and conditions carefully and ensure that you understand them. Your agreement to comply with and be bound by these terms and conditions is deemed to occur upon your first use of Our Site. If you do not agree to comply with and be bound by these terms and conditions, you must stop using Our Site immediately.

In this Policy, the following terms shall have the following meanings:

"personal data" means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation ("GDPR") and Organic Law 3/2018 on the Protection of Personal Data and Guarantee of Digital rights.

"We/Us/Our" means Monex Europe Markets S.V., S.A.U., a sociedad constituida registered in Spain under company number A16789208, whose registered address is Torre Picasso, Plaza Pablo Ruiz Picasso, 1, 28020 Madrid, Spain.

2.1 Our Site is operated by pacwebhosting.uk Ltd, a limited company registered in the United Kingdom, whose registered address is International House, 61 Mosley Street, Manchester, M2 3HZ, United Kingdom.

2.2 Our Site is maintained by Cogent Design Limited, a private limited company registered in England under company number 03698789, whose registered address is 6b Parkway, Porters Wood, St Albans, Hertfordshire, AL3 6PA.

2.3 Our VAT number is A16789208.

2.4 For any data protection or GDPR-related questions, please email consultas.memsv@monexeurope.eu, by telephone on +34 911 43 00 20, or contact by post at Torre Picasso, Plaza Pablo Ruiz Picasso, 1, 28020 Madrid, Spain.

2.5 We are authorised and regulated by the Comisión Nacional del Mercado de Valores (CNMV) as an investment services firm ("Sociedad de Valores") with an official registration number 321.

3.1 Access to Our Site is free of charge.

3.2 It is your responsibility to make any and all arrangements necessary in order to access Our Site.

3.3 Access to Our Site is provided "as is" and on an "as available" basis. We may alter, suspend or discontinue Our Site (or any part of it) at any time and without notice. We will not be liable to you in any way if Our Site (or any part of it) is unavailable at any time and for any period.

4.1 All content included on Our Site and the copyright and other intellectual property rights subsisting in that content, unless specifically labelled otherwise, belongs to or has been licensed by Us. All Content is protected by applicable EU and Spanish regulations.

4.2 Subject to sub-Clause 4.3 you may not reproduce, copy, distribute, sell, rent, sub-licence, store, or in any other manner re-use content from Our Site unless given express written permission to do so by Us.

4.3 You may:

• Access, view and use Our Site in a web browser (including any web browsing capability built into other types of software or app);
• Download Our Site (or any part of it) for caching;
• Print pages from Our Site;
• Download extracts from pages on Our Site; and
• Save pages from Our Site for later and/or offline viewing.

4.4 Our status as the owner and author of the content on Our Site (or that of identified licensors, as appropriate) must always be acknowledged.

4.5 You may not use any content saved or downloaded from Our Site for commercial purposes without first obtaining a licence from Us (or our licensors, as appropriate) to do so.

4.6 Nothing in these Terms and Conditions limits or excludes the provisions of the relevant copyright, design and patents legislation as applicable, covering in particular the making of temporary copies; research and private study; the making of copies for text and data analysis for non-commercial research; criticism, review, quotation and news reporting; caricature, parody or pastiche; and the incidental inclusion of copyright material.

5.1 You may link to Our Site provided that:

• You do so in a fair and legal manner;
• You do not do so in a manner that suggests any form of association, endorsement or approval on Our part where none exists;
• You do not use any logos or trade marks displayed on Our Site without Our express written permission; and
• You do not do so in a way that is calculated to damage Our reputation or to take unfair advantage of it.

5.2 You may not link to any page other than the homepage of Our Site, https://www.monexeurope.eu/memsv. Deep-linking to other pages requires Our express written permission.

5.3 Framing or embedding of Our Site on other websites is not permitted without Our express written permission. Please contact Us at consultas.memsv@monexeurope.eu for further information, including "GDPR" or "Data Protection" in the subject field.

5.4 You may not link to Our Site from any other site the main content of which contains material that:

• is sexually explicit;
• is obscene, deliberately offensive, hateful or otherwise inflammatory;
• promotes violence;
• promotes or assists in any form of unlawful activity;
• discriminates against, or is in any way defamatory of, any person, group or class of persons, race, sex, religion, nationality, disability, sexual orientation, or age;
• is intended or is otherwise likely to threaten, harass, annoy, alarm, inconvenience, upset, or embarrass another person;
• is calculated or is otherwise likely to deceive another person;
• is intended or is otherwise likely to infringe (or to threaten to infringe) another person's privacy;
• misleadingly impersonates any person or otherwise misrepresents the identity or affiliation of a particular person in a way that is calculated to deceive;
• implies any form of affiliation with Us where none exists;
• infringes, or assists in the infringement of, the intellectual property rights (including, but not limited to, copyright, trade marks and database rights) of any other party; or
• is made in breach of any legal duty owed to a third party including, but not limited to, contractual duties and duties of confidence.

5.5 The content restrictions in sub-Clause 5.4 do not apply to content submitted to sites by other users provided that the primary purpose of the site accords with the provisions of sub-Clause 5.4.

Links to other sites may be included on Our Site. Unless expressly stated, these sites are not under Our control. We neither assume nor accept responsibility or liability for the content of third party sites. The inclusion of a link to another site on Our Site is for information only and does not imply any endorsement of the sites themselves or of those in control of them.

7.1 Nothing on Our Site constitutes advice on which you should rely. It is provided for general information purposes only.

7.2 Insofar as is permitted by law, We make no representation, warranty, or guarantee that Our Site will meet your requirements, that it will not infringe the rights of third parties, that it will be compatible with all software and hardware, or that it will be secure.

7.3 We make reasonable efforts to ensure that the content on Our Site is complete, accurate, and up-to-date. We do not, however, make any representations, warranties or guarantees (whether express or implied) that the content is complete, accurate, or up-to-date.

8.1 To the fullest extent permissible by law, We accept no liability to any user for any loss or damage, whether foreseeable or otherwise, in contract, tort (including negligence), for breach of statutory duty, or otherwise, arising out of or in connection with the use of (or inability to use) Our Site or the use of or reliance upon any content included on Our Site.

8.2 To the fullest extent permissible by law, We exclude all representations, warranties, and guarantees (whether express or implied) that may apply to Our Site or any content included on Our Site.

8.3 If you are a business user, We accept no liability for loss of profits, sales, business or revenue; loss of business opportunity, goodwill or reputation; loss of anticipated savings; business interruption; or for any indirect or consequential loss or damage.

8.4 We exercise all reasonable skill and care to ensure that Our Site is free from viruses and other malware. We accept no liability for any loss or damage resulting from a virus or other malware, a distributed denial of service attack, or other harmful material or event that may adversely affect your hardware, software, data or other material that occurs as a result of your use of Our Site (including the downloading of any content from it) or any other site referred to on Our Site.

8.5 We neither assume nor accept responsibility or liability arising out of any disruption or non-availability of Our Site resulting from external causes including, but not limited to, ISP equipment failure, host equipment failure, communications network failure, natural events, acts of war, or legal restrictions and censorship.

8.6 Nothing in these Terms and Conditions excludes or restricts Our liability for fraud or fraudulent misrepresentation, for death or personal injury resulting from negligence, or for any other forms of liability which cannot be excluded or restricted by law.

9.1 We exercise all reasonable skill and care to ensure that Our Site is secure and free from viruses and other malware.

9.2 You are responsible for protecting your hardware, software, data and other material from viruses, malware, and other internet security risks.

9.3 You must not deliberately introduce viruses or other malware, or any other material which is malicious or technologically harmful either to or via Our Site.

9.4 You must not attempt to gain unauthorised access to any part of Our Site, the server on which Our Site is stored, or any other server, computer, or database connected to Our Site.

9.5 You must not attack Our Site by means of a denial of service attack, a distributed denial of service attack, or by any other means.

9.6 By breaching the provisions of sub-Clauses 9.3 to 9.5 you may be committing a criminal offence under the applicable laws. Any and all such breaches will be reported to the relevant law enforcement authorities and We will cooperate fully with those authorities by disclosing your identity to them. Your right to use Our Site will cease immediately in the event of such a breach.

10.1 You may only use Our Site in a manner that is lawful. Specifically:

• you must ensure that you comply fully with any and all local, national or international laws and/or regulations;
• you must not use Our Site in any way, or for any purpose, that is unlawful or fraudulent;
• you must not use Our Site to knowingly send, upload, or in any other way transmit data that contains any form of virus or other malware, or any other code designed to adversely affect computer hardware, software, or data of any kind; and
• you must not use Our Site in any way, or for any purpose, that is intended to harm any person or persons in any way.

10.2 We reserve the right to suspend or terminate your access to Our Site if you materially breach the provisions of this Clause 10 or any of the other provisions of these terms and conditions. Specifically, We may take one or more of the following actions:

• suspend, whether temporarily or permanently, your right to access Our Site;
• issue you with a written warning;
• take legal proceedings against you for reimbursement of any and all relevant costs on an indemnity basis resulting from your breach;
• take further legal action against you as appropriate;
• disclose such information to law enforcement authorities as required or as We deem reasonably necessary; and/or
• any other actions which We deem reasonably appropriate (and lawful).

10.3 We hereby exclude any and all liability arising out of any actions (including, but not limited to those set out above) that We may take in response to breaches of these Terms and Conditions.

Use of Our Site is also governed by Our Cookie and Privacy Policies, available from Cookie Policy and Privacy Policy. These policies are incorporated into these terms and conditions by this reference.

12.1 We may alter these Terms and Conditions at any time. Any such changes will become binding on you upon your first use of Our Site after the changes have been implemented. You are therefore advised to check this page from time to time.

12.2 In the event of any conflict between the current version of these terms and conditions and any previous version(s), the provisions current and in effect shall prevail unless it is expressly stated otherwise.

To contact Us, please email Us at consultas.memsv@monexeurope.eu or using any of the methods provided on Our contact page at https://www.monexeurope.eu/en/contact/.

14.1 Any and all personal information that We may collect will be collected, used and held in accordance with the provisions of the GDPR and your rights and Our obligations under that Act.

14.2 We may use your personal information to reply to any communications you send to Us.

15.1 These Terms and Conditions, and the relationship between you and Us (whether contractual or otherwise) shall be governed by and construed in accordance with the laws of EU and Spain.

15.2 If you are a consumer, any disputes concerning these terms and conditions, the relationship between you and Us, or any matters arising therefrom or associated therewith (whether contractual or otherwise) shall be subject to the jurisdiction of the courts of Spain, as determined by your residency.

15.3 If you are a business, any disputes concerning these terms and conditions, the relationship between you and Us, or any matters arising therefrom or associated therewith (whether contractual or otherwise) shall be subject to the exclusive jurisdiction of the courts of Spain.

In compliance with the provisions of Order ECO/734/2004, of 11 March, on the Customer Care Departments and Services and the Customer Ombudsman of financial institutions (the "Order"), "Monex Europa, S.L." ("Monex" or the "Company") makes this section available to its customers in order to summarise the most relevant information relating to the processing of complaints and claims, and other aspects of interest in terms of transparency and protection of the financial services customer.

Monex has a specialised and independent customer service department ("Customer Service Department" or "SAC"), responsible for protecting the rights and legitimate interests of customers in their relations with the Company and dealing with complaints and claims submitted, directly or through representation, by all natural or legal persons, Spanish or foreign, who meet the status of Monex customer, provided that such complaints and claims refer to their legally recognised interests and rights, whether arising from contracts, transparency and customer protection regulations or good financial practices and uses, in particular, the principle of equality. The head of SAC has been duly appointed by the Board of Directors of Monex in accordance with the applicable regulations.

Complaints and claims submitted must be resolved within fifteen working days from receipt by the Customer Service Department. In exceptional situations, when a response cannot be offered within fifteen working days for reasons beyond the control of the Customer Service Department, Monex will send a provisional response clearly indicating the reasons for the delay in the response to the complaint and specifying the period within which the customer will receive the final response. This period shall never exceed one month.

In order to be served by the Customer Service Department provided for in the Order, it is necessary that the customer has previously contacted the Company through the means provided for in this section:

By mail:
Monex Europa SL
Picasso Tower, Plaza Pablo Ruiz Picasso, 1
28020 Madrid
Attn. Customer Service Department

By email: consultas.mesl@monexeurope.eu

The following information must be included in the complaint or claim submitted to the Customer Service Department (otherwise, the complaint or claim may not be admitted for processing):

1. Name and surname (or company name) and address of the customer and, where applicable, of the person representing them, and the accreditation of said representation; and photocopy of the DNI, passport or NIE.
2. Reason for the complaint or claim, clearly specifying which are the issues on which a ruling is requested.
3. Office, department or service where the facts that are the subject of the complaint or claim occurred.
4. That the client is not aware that the subject matter of the complaint or claim is being substantiated through an administrative, arbitral or judicial procedure.
5. Place, date and signature.

Along with this document, the client must provide the documentary evidence they have and on which their complaint or claim is based.

For more information on the processing of complaints and claims, Monex makes available to customers its Rules for the defence of the Company's customers, which can be found at the following link: https://www.monexeurope.eu/en/mesl/regulatory-disclosures/

Once the complaint or claim has been filed with the Customer Service Department, if the response has not been satisfactory or the general maximum period of 15 days or exceptional period of one month has elapsed to resolve their complaint or claim from the filing of the same, the customer may contact the following Complaints Services:

Supervisory Body Complaints Service: Conduct of Institutions Department of the Bank of Spain

Payment services and electronic money: if you do not receive a response within the period provided for in the Rules or when your claim is not upheld, you can contact the Bank of Spain's Complaints Service: Calle Alcalá 48, 28014 Madrid or through its website: clientebancario.bde.es

Before resorting to these Complaints Services, the regulations require the customer to justify having previously gone to the Monex Customer Service Department.

General Consumer Protection Regulations and contracting conditions:

• Royal Legislative Decree 1/2007, of 16 November, approving the revised text of the General Law for the Defence of Consumers and users and other complementary laws.
• Law 7/1998, of 13 April, on general contract conditions.

General regulations on consumer protection of payment and electronic money services:

• Royal Decree-Law 19/2018, of 23 November, on payment services and other urgent measures in financial matters.
• Order ECE/1263/2019, of 26 December, on transparency of the conditions and information requirements applicable to payment services.
• Order EHA/2899/2011, of 28 October, on transparency and protection of banking services customers.

Customer Service & Consumer Protection:

• Order ECO/734/2004, of 11 March, on Customer Service Departments and the Consumer Ombudsman for Financial Institutions.
• Order ECC/2502/2012, of 16 November, which regulates the procedure for submitting complaints to the complaints services of the Bank of Spain, the National Securities Market Commission and the Directorate General of Insurance and Pensions.
• Law 7/2017, of 2 November, which incorporates Directive 2013/11/EU of the European Parliament and of the Council, of 21 May 2013, on alternative dispute resolution in consumer matters, into Spanish law.

Monex Europa S.L. ('we', 'our' or 'us') may process certain personal data about you, depending on the scope of your specific relationship with us. This processing of personal data is regulated under the General Data Protection Regulation (2016/679) (the 'GDPR') of the European Parliament and of the Council of 27 April 2016, the e-Commerce Directive (2000/31/EC) and the e-Privacy Directive (2002/58/EC), which all apply across the European Union, as well as any national implementations, including the Spanish Organic Law 3/2018 of 5 December on the Protection of Personal Data and Guarantee of Digital Rights, the Spanish Law 34/2002 of 11 July on Information Society Services and Electronic Commerce, and the Spanish Royal Decree-Law 13/2012 of 30 March (together, the 'Data Protection Laws'). We are responsible as 'controller' of your personal data for the purposes of those laws.

For more information about privacy guarantees, you may contact the Controller at:

Address: Monex Europa S.L., Torre Picasso, Plaza Pablo Ruiz Picasso, 1, 31 – 28020 Madrid, Spain
E-mail: gdpr@monexeurope.eu
Data Protection Officer: RS SERVICIOS JURÍDICOS S.L., Calle Santiago 3, 2ºDcha, 47001 Valladolid – dpo@rsprivacidad.es

Transparency is one of our core values, and we place great importance on the privacy of your data.

Users, by checking the appropriate boxes and entering data in fields marked with an asterisk (*) on the contact form or submitted via download forms, expressly and freely consent to their data being necessary to handle their request. Monex Europa S.L. informs that all data requested through the website is mandatory, as it is required to provide optimal service to users.

This Privacy Notice applies to the following three circumstances:

1. personal data processed when you visit and use our website;
2. any natural person that has been contacted through our direct marketing strategy, either via phone or email; and
3. personal data processed to service our potential and existing clients.

We will comply with the principles set out in the GDPR, which states that the personal data we hold about you must be:

• used lawfully, fairly, and in a transparent way;
• collected only for valid purposes that we have clearly explained to you;
• relevant to the purposes we have told you about and limited only to what is necessary in relation to those purposes;
• accurate and kept up to date;
• kept only as long as necessary for the purposes we have told you about, subject to any limitation periods imposed by law; and
• kept securely.

4.1 Personal data gathered from you

4.1.1 Website
When you visit our website we collect minimal personal data including: information about your computer or device, including browser type and settings; log data (the webpage you were visiting before you came to our site, pages you visit, time spent, IP address, access times/dates); history of interaction with our webpages; and other data that does not directly identify you.

4.1.2 Marketing
We collect personal data you provide directly only if you respond to our marketing campaigns, such as call logs and email exchanges with our staff.

4.1.3 Client
We collect the following personal data at onboarding: full name; email address; phone number; address; nationality; date of birth; identification documents; and signature. Throughout the business relationship we collect: account activity including payment instructions; communications with our staff; and usage of online portals.

4.2 Personal data from other sources

4.2.2 Marketing
If we have contacted you during a marketing campaign, we may have collected personal data from third parties via publicly accessible sources including LinkedIn, Companies House, and news sources. You can object to our processing at any stage; please see section '13. What rights do you have?'.

4.2.3 Client
We may receive personal data about you from other sources including credit information, business partners, and legal and compliance checks, which we add to the personal data we hold to check creditworthiness, prevent fraud, comply with legal obligations, and improve our service.

4.3 Cookies and similar technologies
Cookies are small text files placed on your computer or device. You can access our Cookie Policy at: https://www.monexeurope.eu/en/mesl/cookie-policy/.

5.1 Website
We primarily use your personal data to interact with you, provide assistance services, facilitate navigation, improve our website and products, and offer content and services that may be of interest to you.

5.2 Marketing
We collect personal data about you to directly market services we legitimately believe will be of interest to you. This data is used exclusively to communicate with you. We may monitor and record communications such as emails and telephone calls for quality assurance, training, fraud prevention, management information, and compliance with relevant laws.

5.3 Client
We collect personal data for onboarding; identifying you and managing accounts; sending contract notes; complying with regulation; processing trades; and statistical and behavioural analysis. We may also monitor and record communications for the same purposes as described above.

Provision and development of our services will necessarily involve the sharing of your data with the parties involved, intermediaries, and, in the case of international money transfers, with payee correspondents in the destination country. We may share your personal information with:

• members of the Monex group;
• contractors, sub-contractors, business partners, introducers, suppliers, and/or service providers;
• credit reference agents;
• law enforcement agencies in connection with any investigation to help prevent unlawful activity;
• legal representatives and consultants; and/or
• IT service providers (ClaireLogic, DataArt Solutions, Microsoft Exchange, Microsoft Azure).

Your personal data is never sold and any personal data that is shared is done so in line with the Data Protection Laws. We collect and use personal data to provide a service or product you have requested, to comply with a legal obligation, or based on the legitimate interests of the Monex Group. The legal bases for processing include:

• Consent (Art. 6.1.a GDPR): for specific cases such as ticking the privacy policy acceptance box on website forms.
• Contractual necessity (Art. 6.1.b GDPR): processing necessary for the performance of services, payment, billing, and delivery.
• Legitimate interest (Art. 6.1.f GDPR): for sending newsletters about services, events, and professional news.
• Providing evidence in litigation, compliance with foreign laws, and conducting business in accordance with reasonable market standards.
• Processing personal data in connection with submitting CVs or job applications is based on user consent, which can be withdrawn at any time.

We retain personal data in accordance with our Data Retention Policy for as long as necessary for the purposes for which it was collected. We may retain data for longer periods when required to comply with legal obligations, respond to claims, or prevent fraud. Specific retention periods include:

• Dissociated data: Retained indefinitely.
• Contact data for marketing purposes: Retained until consent is withdrawn.
• Client data: Depends on the service; minimum necessary period: 4 years plus the current year (Arts. 66 et seq. General Tax Law); 5 years (Art. 1964 Civil Code); 6 years (Art. 30 Commercial Code); 10 years for anti-money laundering (Art. 25 Law 10/2010).
• Contact form data: Retained until your request is satisfactorily completed or until you withdraw consent.

We store your personal data in a secure environment with appropriate security measures in place to prevent personal data from being lost, accessed, or used in an unauthorized way, including encryption and other forms of security. We limit access to your personal data to those who have a genuine business need to know it.

We have procedures in place to deal with any suspected data security breach. We will notify you and any applicable regulator of a suspected data security breach where we are legally required to do so.

Whilst we will use all reasonable efforts to secure your personal data, in using the website you acknowledge the use of the internet is not entirely secure and for this reason we cannot guarantee the security or integrity of personal data that is transferred from you.

International data transfers involve the flow of personal data from Spain to recipients located in countries outside the European Economic Area. When such transfers occur, we ensure that the receiving entity has an adequate level of protection through safeguards such as standard contractual clauses.

Transfers will be conducted in accordance with one of the following provisions: an adequacy decision by the EU Commission (Art. 45 GDPR); or, in the absence of an adequacy decision, where the transfer is necessary for the performance of a contract in the data subject's interest (Art. 49.1(c) GDPR).

We may wish to send you information about products, services, and our company that may be of interest, by postal mail, email, or telephone.

11.1 Client: We will ask whether you would like to receive marketing messages on the first occasion that you provide any relevant contact information. If you opt in, you can opt out at any time (see '13. What rights do you have?').

11.2 Potential client: You may be sent marketing information where personal data has been collected and processed in line with the processes described in sections 4.1.2, 4.2.2, and 5.2.

We may do a credit check on you so that we can make credit decisions about you and prevent financial crime. Any such search will be recorded on the files of the credit reference agency.

If you provide false or inaccurate information to us and we suspect fraud, we will record this. We will ask for your explicit consent before any credit search is performed.

The USER guarantees being of legal age and providing accurate and truthful information. The USER commits to informing Monex Europa, S.L. of any changes to the provided information by email to gdpr@monexeurope.eu.

The USER commits to keeping passwords and identification codes confidential and to notifying Monex Europa, S.L. immediately in case of loss, theft, or unauthorized access. Until such notification is made, Monex Europa, S.L. is not liable for misuse by unauthorized third parties.

If the USER provides personal data of third parties, they guarantee that consent has been obtained and the third parties have been informed. The USER is responsible for any consequences arising from failure to comply with these obligations.

We would like to make sure you are fully aware of all your data protection rights:

• The right to access – You have the right to request copies of your personal data and how we process it.
• The right to rectification – You have the right to request that we correct inaccurate or incomplete personal data.
• The right to erasure – You have the right to request that we erase your personal data, under certain conditions.
• The right to restrict processing – You have the right to request that we restrict the processing of your personal data, under certain conditions.
• The right to object to processing – You have the right to object to our processing of your personal data, including for marketing purposes.
• The right to data portability – You have the right to request that we transfer your data to another organisation, or directly to you, under certain conditions.

If you make a request, we have one month to respond. You can exercise these rights by email to gdpr@monexeurope.eu or by post to Torre Picasso, Plaza Pablo Ruiz Picasso, 1, 31 – 28020 Madrid, Spain.

You also have the right to lodge a complaint with the Agencia Española de Protección de Datos (AEPD): Calle de Jorge Juan, 6, 28001 Madrid, Spain.

This Privacy Notice was published on 1 January 2021. Last updated on March 3, 2026. We may update or amend this Privacy Notice from time to time. We will notify users of any substantial changes by email (if you have opted to receive emails) and/or a notice on the website header.

If you have any questions about this Privacy Notice or the personal data we hold about you, please contact us:

Email: gdpr@monexeurope.eu
Post: Monex Europa S.L., Torre Picasso, Plaza Pablo Ruiz Picasso, 1, 28020 Madrid, Spain

If you have any complaints about this Privacy Notice or the personal data we hold about you, please contact us using the information above.

If you are unsatisfied with our response, you can contact the Agencia Española de Protección de Datos (AEPD):

Contact number: +34 901 100 099
Website: https://www.aepd.es/

In accordance with applicable personal data protection regulations, the DATA CONTROLLER complies with GDPR and LOPDGDD provisions. Personal data is processed lawfully, fairly, and transparently, in line with Art. 5 GDPR principles.

The DATA CONTROLLER ensures that appropriate technical and organizational policies are in place to safeguard user rights and freedoms and provides sufficient information to exercise them.

For more information, contact Monex Europa, S.L. at Torre Picasso, Plaza Pablo Ruiz Picasso, 1, 28020 Madrid, Spain, or email gdpr@monexeurope.eu.

Monex Europa, S.L., as an obligated entity, complies with Law 10/2010 of April 28 on the prevention of money laundering and terrorist financing.

Under these regulations, and pursuant to GDPR Art. 14, Monex Europa, S.L. has registered your personal data related to your relationship with the company to comply with Art. 4 of Law 10/2010 (beneficial owner identification). The data is stored in Monex Europa, S.L. files (B56461320) exclusively to fulfil AML obligations and will be retained as required by law.

According to Art. 32 of Law 10/2010, consent from the data subject is not required for this processing.

Our website uses cookies.

This site uses cookies. Some are 'essential' to keep our website secure and to provide our users with requested information. Others help us improve your online experience and track website performance. By using our website, you accept essential cookies, although you can opt-out of using other non-essential cookies if you wish.

A "cookie" is a small text file used on a website to make a user's experience more efficient.

This site uses different types of cookies. Some of them are essential while others help us improve your online experience and track website performance.

The necessary 'essential' cookies are used to keep our website secure and necessary to provide our users with requested information. Other 'non-essential' cookies are used for analytics, identify a user when returning to our website, and/or may be placed by third parties services that appear on our pages. Without certain cookies, we are unable to provide some services that you might request. By using our website you accept 'essential' cookies, although you can opt in or opt out of using other non-essential cookies.

You can at any time change or withdraw your consent from the Cookie Declaration on our website.

Learn more about who we are, how you can contact us and how we process personal data in our Privacy Notice.

Your consent applies to the following domains: www.monexeurope.eu

Cookie declaration last updated on 3/4/26 by Cookiebot.

Necessary 'essential' cookies help make our website usable by enabling basic functions including page navigation and access to secure areas of the website. This website cannot function properly without these cookies.

Marketing cookies are used to track visitors across websites. The intention is to display ads that are relevant and engaging for the individual user and thereby more valuable for publishers and third party advertisers.

Unclassified cookies are cookies that we are in the process of classifying, together with the providers of individual cookies.

Monex Europa S.L. is authorised and regulated by the Bank of Spain as a payment institution (register number 6890). We operate in strict compliance with applicable Spanish and European legislation governing payment services and foreign exchange, including the Payment Services Directive (PSD2) and MiFID II requirements as applicable.

In accordance with applicable regulatory requirements, client funds are held separately from the own funds of Monex Europa S.L. in segregated accounts at authorised credit institutions. This segregation ensures the protection of your funds in the event of the firm's insolvency.

Regulatory client information documents are available for download below. These documents contain important information about our services, fees, rights and regulatory obligations.

These Terms and Conditions govern the contractual relationship between you and Monex Europa S.L. in connection with the provision of foreign exchange and international payment services. By using our services, you agree to be bound by these terms as updated from time to time. We recommend that you read the document carefully in your preferred language before engaging our services.

The documents are available for download in the following languages:

At Monex Europa S.L. ("MESL"), we are committed to providing exceptional service, with the aim of offering the best results to our clients. If you are dissatisfied with any aspect of MESL, whether it be our products or services, or because you believe that the behavior received is not in line with our values and principles, internal regulations, or applicable regulations, we encourage you to let us know so that we can address your concerns promptly and remedy the situation.

Whistleblowers, and therefore those who may file reports through the Whistleblower Channel, are considered to be those individuals who have a relationship with the Company's activities, including: employees (temporary or permanent), interns, applicants, customers, suppliers, consultants, and volunteers.

As a whistleblower, you can report confidentially, and anonymously if you wish, any suspicion and/or behavior that may be contrary to our principles and values set out in our Code of Conduct, internal regulations, or applicable legislation.

You can report through the following Whistleblowing Channels:

1. Contact your dedicated account manager directly via phone or email.
2. Email: canaldedenuncias.mesl@monexeurope.com
3. Via post, to the following address:
   To: Responsable del Canal Interno de Información
   Torre Picasso. Plaza Pablo Ruiz Picasso 1. 28020, Madrid (España)
4. Online form: Complete form
5. Ask for an in-person or online meeting with the Responsible of the Internal Information System.
6. Phone: +34 919 032 784

Additionally to these communication channels, you can contact the external communication channels available.

In order to ensure a proper and efficient investigation of the facts, you must clearly provide the following information:

• Location of the reported events;
• Identification of the individuals involved in the events;
• Description of the reported conduct;
• Your relationship with MESL;
• Attach any documents or files that may be considered evidence;
• Any other relevant information that may help in the investigation and resolution of the situation.

You will have the following guarantees at all times:

• You will be able to make anonymous reports, and this anonymity will be guaranteed throughout the entire process.
• Both your identity and the information shared throughout the process will be treated with absolute and strict confidentiality.
• The Responsible of the Internal Information System will be the recipient of your communication and will conduct the investigation autonomously, objectively, and independently of the Company and its other bodies.
• Provided that you make the communication in good faith, the Company will not take any kind of reprisals against the whistleblower.
• You will be informed of the final result of the investigation by means of a reasoned decision.

1. Acknowledgment of receipt of the communication

• Once we receive your communication, we will confirm receipt within 7 calendar days.
• We will indicate the expected response time, which may be up to 3 months from the confirmation of receipt, except in cases of special complexity, in which the period may be extended for up to an additional 3 months.

2. Investigation

• The System Manager will analyze the case independently, objectively, and impartially to ensure that it is handled honestly, reasonably, and in line with our regulatory obligations.
• If the Responsible of the Internal Information System considers it necessary to obtain any clarification or additional information to carry out the investigation, they will contact you provided that this does not compromise the confidentiality of the proceedings.
• The confidentiality of the proceedings and your identity, in the case of a non-anonymous complaint, is guaranteed throughout the process.

3. Final response

Once the investigation is complete, we will send you our written response highlighting:

• The details of our analysis
• The incidents detected and the remedial actions taken
• Our final decision

Once we have completed our analysis, we will provide you with a written response, explaining our reasons, within a maximum of three months from the date of receipt of your communication, except in particularly complex cases that require an extension of the deadline, in which case it may be extended for a maximum of three additional months.

If you do not receive an acknowledgment of receipt of the communication, the period will begin 7 calendar days after the communication is made by the informant.

In addition to the Company's Whistleblowing Channel, you can use the following external communication channels, among others, to report suspicious and/or irregular conduct:

• Autoridad Independiente de Protección al Informante (A.A.I.): https://www.proteccioninformante.gob.es/
• Autoridades u órganos autonómicos correspondientes
• Banco de España: https://sedeelectronica.bde.es/

For more information on our Whistleblowing Channel procedure, please request our Policy.

INFORMATION SOCIETY SERVICES ACT (LSSI)

Monex Europa, S.L., the person responsible for the website, hereinafter the CONTROLLER, makes this document available to users, which is intended to comply with the obligations provided in Act 34/2002 of 11 July, on Information Society and Electronic Commerce Services (LSSICE), Spanish Official State Journal No. 166, as well as informing all website users of the conditions of use.

Any person who accesses this website acquires the status of user, and as such undertakes to strictly observe and comply with the provisions provided herein, as well as any other applicable legal clause. Monex Europa, S.L. reserves the right to modify any type of information that may appear on the website, and is not obliged to give prior notice or inform users of such obligations, with publication on the website of Monex Europa, S.L. being understood as sufficient.

Domain name: www.monexeurope.eu/en/mesl/
Commercial name: Monex
Company name: Monex Europa, S.L.
TIN: B56461320
Registered address: Torre Picasso, Plaza Pablo Ruiz Picasso, 1, 28020 Madrid (Madrid)
Telephone: 34 911430020
Email: gdpr@monexeurope.eu

The website, including but not limited to its programming, editing, compilation and other elements necessary for its operation, the designs, logos, text and/or graphics, are owned by the CONTROLLER or, if applicable, they expressly holds a license or an express authorisation by the authors. All website contents are duly protected by intellectual and industrial property laws, and are registered in the corresponding public registries.

Regardless of their intended purpose, the total or partial reproduction, use, exploitation, distribution and commercialisation, requires in any case the prior written authorisation from the CONTROLLER. Any unauthorised use is considered a serious breach of the author's intellectual or industrial property rights.

The designs, logos, text and/or graphics not belonging to the CONTROLLER and which may appear on the website, belong to their respective owners who are liable for any possible dispute that may arise regarding them. The CONTROLLER expressly authorises third parties to redirect to the specific content of the website, and in any case to redirect to the main website of www.monexeurope.eu/en/mesl/.

The CONTROLLER acknowledges the corresponding intellectual and industrial property rights in favour of their owners, and any mention or appearance on the website does not imply the existence of any rights or responsibility whatsoever over them, nor does it imply any endorsement, sponsorship or recommendation by the website.

Comments regarding any possible breach of intellectual or industrial property rights, as well as regarding the contents of the website, can be made by contacting gdpr@monexeurope.eu.

The RESPONSIBLE disclaims any liability for the information published on its website provided that it has no actual knowledge that this information has been manipulated or introduced by a third party external to it or, if it has, has acted diligently to remove the data or make it impossible to access them.

Use of Cookies

This website uses technical cookies (small files with information that the server sends to the computer of the website user) in order to carry out certain functions considered necessary for the correct functioning and preview of the website. In any case, the cookies used are temporary, with the sole purpose of making navigation of the site more efficient, and disappear at the end of the user's session. Under no circumstances do these cookies themselves provide personal data and will not be used for the collection of such data.

Through using cookies, it is also possible for the server where the website is located to recognise the browser used by the user in order to make navigation easier, allowing, for example, users who have previously registered to access the areas, services, promotions or contests reserved exclusively for them without having to register on each visit. They may also be used to measure the audience or traffic parameters, monitor the progress and number of entries, etc. In these cases, the cookies used are technically non-essential but beneficial to the user.

This website will not install non-essential cookies without previous user consent.

This website uses our own cookies and third-party cookies for analytical purposes and to display personalised advertising based on a profile drawn from your browsing habits (e.g. pages visited). All users who visit the website are informed of the use of these cookies by means of a floating banner. If its use is accepted, the banner will disappear, although it is possible to revoke consent and to obtain more information at any time by consulting our Cookies Policy.

The browser may be configured by the user to alert them of the reception of cookies and to prevent their installation on their computer. For further information, please consult the instructions of your browser.

Link policy

The user of this website may be redirected to content from third party websites. Since the CONTROLLER cannot always control the contents of third party websites, they do not assume any type of responsibility with respect to said contents. In any case, the CONTROLLER will immediately remove any content that may be in breach of national or international laws, morality or public order, and will immediately remove the redirection to this website, informing the competent authorities of the content in question.

The CONTROLLER will not be responsible for the information and content found, including but not limited to, in forums, chats, blog generators, comments, social networks or any other means that allows third parties to publish content independently on the website of the CONTROLLER. However, and in accordance with Acts 11 and 16 of the LSSICE, third party content is made available to all users, authorities, and law enforcement bodies collaborating directly on the withdrawal or blocking of all content that may affect or violate national or international law, third party rights or public morals and public order. In the event that the user considers there to be any content on the website that could be considered as such, please notify the website administrator immediately.

This website was revised and tested to enable its correct functioning. In principle, proper functioning can be guaranteed 365 days a year, 24 hours a day. However, the CONTROLLER does not rule out the possibility of there being certain programming errors, or that force majeure, natural disasters, strikes or similar circumstances may occur that make accessing the website impossible.

IP Addresses

The website servers can detect automatically the IP address and the domain name used by the user. An IP address is a number assigned automatically to a computer when connected to the Internet. All of this information is recorded in a duly registered system log on the server that allows the subsequent processing of the data in order to obtain only statistical measurements that show us the number of page hits, the number of visits made to the web servers, the order of visits, the access point, etc.

Spanish legislation shall apply to the resolution of all disputes or questions related to this website or the activities carried out therein, to which the parties expressly submit themselves, and the Courts and Tribunals of the USER's domicile or the place of fulfilment of the obligation shall be competent for the resolution of all disputes arising from or related to its use.

These terms and conditions, together with any documents referred to herein, set out the terms under which you may use this website, [www.monexeurope.eu/memsv] ("Our Site"). Please read these terms carefully and ensure you understand them. You are deemed to accept these terms after your first use of Our Site. If you do not accept, you must stop using Our Site immediately.

"Personal Data" means all data relating to an identifiable person who can be identified directly or indirectly from those data, including definitions per EU Regulation 2016/679 (GDPR) and Spanish Organic Law 3/2018.

"We/Us/Our" refers to Monex Europe Markets S.V., S.A.U., a company incorporated in Spain with company number A16789208, whose registered address is Torre Picasso, Plaza Pablo Ruiz Picasso, 1, 28020 Madrid, Spain.

3.1 Our Site is operated by pacwebhosting.uk Ltd, a UK limited company whose registered address is International House, 61 Mosley Street, Manchester, M2 3HZ.

3.2 Our Site is maintained by Cogent Design Limited, a limited liability company incorporated in England with company number 03698789, registered address 6b Parkway, Porters Wood, St Albans, Hertfordshire, AL3 6PA.

3.3 Our VAT number is A16789208.

3.4 Data protection / GDPR queries: consultas.memsv@monexeurope.eu / +34 911 43 00 20 / Torre Picasso, Plaza Pablo Ruiz Picasso, 1, 28020 Madrid.

3.5 We are authorised and regulated by the CNMV as an investment services firm ("Sociedad de Valores") with official registration number 321.

4.1 Access is free.

4.2 You are responsible for making arrangements to access Our Site.

4.3 We may alter, suspend, or withdraw Our Site without notice and accept no liability for unavailability.

All content is owned by or licensed to us. You may view, download (for caching), print, and save pages for personal, non-commercial use only. Commercial use requires explicit written permission. You must acknowledge our ownership of the content.

Linking is permitted provided it is lawful, fair, and not suggestive of endorsement. Deep-linking and framing require express written permission. Prohibited source sites include those containing sexually explicit material, unlawful content, violence, discrimination, harassment, or deception.

Third-party links do not imply endorsement. We accept no responsibility for external content.

Content is provided "for general information purposes only." No warranties are given regarding completeness, accuracy, compatibility, or security, though we make reasonable efforts to keep information current.

We exclude all liability for losses arising from use of the site or reliance on its content. Business users are specifically excluded from claims for lost profits, revenue, goodwill, or business interruption. We assume no liability for viruses, malware, or denial-of-service attacks. Exclusions do not apply to fraud, death, or personal injury caused by our negligence.

You must not introduce malicious code, attempt unauthorized access, or conduct denial-of-service attacks. Breaches may be criminal offences and will be reported to relevant authorities.

Use must comply with all applicable laws. Prohibited: unlawful/fraudulent activity, malware transmission, and content intended to harm persons. Violations may result in suspension, legal action, or disclosure to law enforcement.

Governed by our Cookie Policy and Privacy Policy, both incorporated by reference.

Terms may be altered at any time. Changes are binding from next use. Check periodically.

Email: consultas.memsv@monexeurope.eu or use the contact page at https://www.monexeurope.eu/en/contact/.

Personal information collected per GDPR. Data may be used to respond to user communications.

Governed by EU and Spanish law. Consumers: Spanish courts per residency. Businesses: exclusive Spanish court jurisdiction.

In compliance with Order ECO/734/2004 of 11 March on Customer Service Departments and the Customer Ombudsman of financial entities, Monex Europe Markets S.V., S.A.U. makes available this section to summarise the most relevant information regarding the handling of complaints and claims.

Monex has a specialised and autonomous Customer Service Department (SAC) responsible for protecting the legitimate rights and interests of customers in their relationships with the Company, handling complaints and claims submitted directly or by representation by all natural or legal persons, Spanish or foreign, who qualify as Monex customers.

Submitted complaints and claims must be resolved within two months of receipt by the SAC.

By Mail:
Monex Europe Markets S.V., S.A.U.
Picasso Tower, Plaza Pablo Ruiz Picasso, 1, 28020 Madrid
Attn. Customer Service Department

By Email: consultas.memsv@monexeurope.eu

Complaints must include:

• Full name, address of the customer (and representative if applicable), with copy of DNI/passport/NIE
• Clear description of the complaint, specifying the issues on which a ruling is requested
• Department or service where the events giving rise to the complaint occurred
• Information about what the customer considers Monex should do to remedy or compensate for the harm caused
• Confirmation that the matter is not under administrative, arbitral, or judicial review
• Place, date, and signature
• Supporting documentary evidence

If dissatisfied with the SAC response, or after two months without a response, customers may contact the CNMV Claims Service:

• Web: https://www.cnmv.es/portal/inversor/reclamaciones.aspx
• Madrid: c/Edison, 4, 28006
• Barcelona: c/Bolivia 56 (4ª planta), 08018

Customers must exhaust Monex's internal process before escalating to the CNMV.

Monex Europe Markets S.V., S.A.U. acts as data controller under GDPR (2016/679) and Spanish data protection laws including Organic Law 3/2018.

This notice applies to three contexts:

1. Personal data processed when you visit and use our website
2. Any natural person contacted through our direct marketing strategy by phone or email
3. Personal data processed to service our potential and existing clients

Personal data must be: used lawfully, fairly and transparently; collected only for valid purposes clearly explained; relevant and limited to what is necessary; accurate and up to date; retained only as long as necessary; and kept securely.

4.1 Website: browser type and settings, log data (referring page, pages visited, time spent, search terms, IP address, access dates/times, statistics), interaction history with web pages.

4.2 Marketing: call logs, email exchanges with staff.

4.3 Clients (at registration): full name, email address, phone number, address, nationality, date of birth, identification documents and signature. During the commercial relationship: account activity including payment instructions, communications with staff, use of online portals.

4.4 From Other Sources: name, date of birth, country of residence, corporate email, profession — collected from LinkedIn, Companies House, news sources for marketing; credit information, references, and legal and compliance checks for clients.

4.5 Cookies: See separate Cookie Policy.

5.1 Website: interact with users; provide support services; facilitate navigation; improve site and products; offer content and services of interest.

5.2 Marketing: direct marketing of services of legitimate interest; monitoring and recording of emails and calls for quality assurance, training, fraud prevention, statistical data collection, and regulatory compliance.

5.3 Clients: registration; identification and account management; sending contractual notes; regulatory compliance; processing transactions; statistical and behavioural analysis; quality assurance; training; fraud prevention.

Data may be shared with: group companies and affiliates; contractors, subcontractors, business partners, introducers, service providers; credit reference agencies; law enforcement bodies; legal representatives and consultants; IT processors (ClaireLogic, DataArt Solutions, Microsoft Exchange, Microsoft Azure). Data is never sold.

Processing occurs under: service fulfillment, legal obligation, legitimate interests (marketing, dispute evidence, regulatory compliance, business operations), and consent (for direct marketing per Law 34/2002).

Retained per the Data Retention Policy and contract lifecycle. Extended periods apply for legal/regulatory requirements and fraud prevention. Data is destroyed, erased, or anonymized when no longer needed.

Encrypted storage; limited access; confidentiality obligations; breach notification procedures. Internet transmission cannot guarantee complete security.

Data may transfer outside the EEA with appropriate safeguards such as standard contractual clauses.

Clients are asked at registration. Potential clients are processed per the marketing sections above. Recipients may unsubscribe at any time.

Credit searches recorded with reference agencies. Personal account conduct may be disclosed to agencies. Other credit businesses may use data for credit decisions, tracing debtors, and fraud detection.

• Right of access: copies of personal data and processing details
• Right of rectification: correct inaccurate or incomplete data
• Right of erasure: deletion under certain conditions
• Right to restrict processing
• Right to object to processing (including marketing)
• Right to data portability
• Right to lodge complaint with AEPD (Agencia Española de Protección de Datos), Calle de Jorge Juan 6, 28001 Madrid

Response deadline: one month.

Last updated 1 July 2024. Changes notified via email or website notice.

Email: gdpr@monexeurope.eu
Address: Torre Picasso, Plaza Pablo Ruiz Picasso 1, 28020 Madrid, Spain
Data Protection Officer: RS SERVICIOS JURÍDICOS S.L. — dpo@rsprivacidad.es

Contact via above details; escalate to AEPD if unsatisfied (+34 901 100 099 / aepd.es).

Fields marked with asterisks (*) are mandatory. Other fields are voluntary. All requested data is necessary for optimal service provision.

The organisation implements GDPR and LOPDGDD technical and organisational measures protecting user rights and freedoms.

In accordance with Law 34/2002 of 11 July on Information Society Services and Electronic Commerce (LSSI), and in relation to EU Regulation 2016/679 (GDPR) and Organic Law 3/2018 (LOPDGDD), the express consent of the user must be obtained for all websites that use non-essential cookies before the user browses them.

Our website uses cookies. The cookies on this website are used to personalise content and advertisements, to provide social media features and to analyse traffic. We also share information about your use of the website with our social media, advertising and web analytics partners, who may combine it with other information that you have provided to them or that they have collected from your use of their services.

Cookies and other similar technologies such as local shared objects, flash cookies or pixels are tools used by web servers to store and retrieve information about their visitors, and to ensure the correct functioning of the site. Through the use of these devices, the web server is able to remember some data concerning the user, such as their preferences for viewing the pages of that server, name and password, products that interest them most, etc.

This site uses different types of cookies:

• Essential cookies: used to keep our website secure and necessary to provide our users with the information requested.
• Non-essential cookies: used for analytics, to identify a user when they return to our website and/or may be placed by third-party services appearing on our pages.

According to the EU directive, the cookies that require informed consent from the user are analytics cookies and advertising and affiliate cookies, while technical cookies and those necessary for the operation of the website or the provision of services expressly requested by the user are exempt.

By using our website, you accept "essential" cookies, although you may choose whether or not to use other non-essential cookies.

Monex Europe Markets S.V., S.A.U. is authorised and regulated by Spain's CNMV as an Authorised Investment Firm (Firm Licence Number 321). The firm executes foreign exchange derivatives over-the-counter on a matched principal, execution-only basis with professional clients. FX derivative contracts are subject to MiFID II or EMIR and their transposition into Spanish law through Royal Decree 4/2015 (October 23) on the Securities Market.

Risk Disclosure: Foreign exchange transactions can place your capital at significant risk. Additional margin payments may be required to maintain positions.

MEMSV is an independent subsidiary of Monex International Markets plc, which is part of Monex S.A.P.I. de C.V. ("Monex"), an investment-grade institution.

The following regulatory documents are available for download:

Services provided by Monex Europe Markets S.V., S.A.U. are regulated financial instruments for Professional Clients only. Foreign Exchange transactions can place your capital at significant risk. Further margin payments may be required to maintain positions. Regulated by CNMV (Firm Licence Number 321) as an Authorised Investment Firm executing FX Derivatives OTC on a matched principal, execution-only basis with professional clients/eligible counterparties. FX derivative contracts are subject to MiFID II or EMIR transposed into Spanish law through Royal Decree 4/2015.

MEMSV is an independent subsidiary of Monex International Markets plc, part of Monex S.A.P.I. de C.V., an investment-grade institution.

The full Terms & Conditions are available for download in the following documents:

As an authorised investment firm operating under MiFID II, Monex Europe Markets S.V., S.A.U. is required to maintain and disclose policies addressing potential conflicts of interest. The firm is regulated by the CNMV and executes FX Derivatives over the counter on a matched principal, execution-only basis with professional clients/eligible counterparties.

The full Conflict of Interest Policy summary is available for download:

At Monex Europe Markets S.V., S.A.U. ("MEMSV") we are committed to providing an exceptional service, with the aim of offering the best results for our clients. If you are not satisfied with any aspect of MEMSV, whether with our products or services, or because you believe that conduct has occurred that is not in line with our values and principles, internal regulations, or applicable regulation, we encourage you to let us know so that we can address your concerns promptly.

Individuals with a relationship to the Company's activities, including: employees (temporary or permanent), interns, applicants, customers, suppliers, consultants, and volunteers.

Any suspicion and/or behaviour that may be contrary to the company's principles and values set out in the Code of Conduct, internal regulations, or applicable legislation.

• Direct contact with account managers (by phone or email)
• Email: canaldedenuncias.memsv@monexeurope.com
• Post: Att.: Responsable del Canal Interno de Información, Torre Picasso, Plaza Pablo Ruiz Picasso 1, 28020 Madrid, Spain
• Online questionnaire form
• In-person or online meeting with the Internal Information System Manager
• Phone: +34 919 032 784

• Location of the events being reported
• Identification of persons related to the events
• Description of the conduct being reported
• Your relationship with MEMSV
• Supporting documents or files that may constitute evidence
• Any other information of interest that may assist in the investigation

• Anonymous communications guaranteed throughout the process
• Absolute and strict confidentiality of identity and information shared
• Independent, objective investigation by the System Manager, autonomous from the Company
• No retaliation against whistleblowers acting in good faith
• Written notification of the outcome of the investigation

Acknowledgement of receipt: within 7 calendar days. Expected response time: maximum 3 months from confirmation of receipt (extendable by a further 3 months in cases of special complexity). Investigation conducted independently, objectively, and impartially.

If unsatisfied, reporters may contact: Spanish Independent Authority for Whistleblower Protection, autonomous authorities, or Spain's National Securities Market Commission (CNMV).

Link to articles of association documentation available for review.

The Company maintains an internal organisational procedure identifying all administrative and management bodies, their composition, and responsibilities. The structure addresses "the nature, scale, and complexity of the Company's activities" through defined organisational frameworks with clear responsibility lines and functional objectives for each department. The Board of Directors supervises organisational effectiveness and implements corrective measures for identified deficiencies. A Corporate Governance and Remuneration Policy Manual is available for download.

An organisational chart is provided showing the company's hierarchical structure.

The company employs a three-level risk control system:

• First Level: Front-line employees must exercise precautions, comply with procedures, and immediately report detected risks or incidents.
• Second Level: Internal control units reporting to the Board of Directors — Regulatory Compliance Department, Risk Management Department, Internal Audit Unit.
• Third Level: Board of Directors, responsible for establishing and maintaining adequate organisational structures.

Regulatory Compliance: operates with complete autonomy and independence; identifies and monitors regulatory risks across all areas; submits annual work plans to the Board with quarterly and annual reports.

Risk Management: identifies operational risks; prepares annual plans with a Risk and Control Self-Assessment matrix for monitoring and evaluation.

Internal Audit: provides reasonable assurance that internal control systems, procedures, and policies function properly; annual audit plan approved by the Board; results documented in an annual audit report. This function is delegated to Aiblu Servicios Profesionales, S.L.

Details on Board of Directors composition, Board member suitability procedures, the Risk Committee, Conflict of Interest Prevention, Solvency and Remuneration Information, and the full Remuneration Policy are contained in the Corporate Governance and Remuneration Policy Manual.

Monex Europe Markets S.V., S.A.U. operates this website in compliance with Spain's Act 34/2002 regarding Information Society and Electronic Commerce Services. The company reserves discretion to modify website information without advance notice.

• Domain: www.monexeurope.eu/en/memsv/
• Commercial Name: Monex
• Legal Entity: Monex Europe Markets S.V., S.A.U.
• Tax ID: A16789208
• Address: Torre Picasso, Plaza Pablo Ruiz Picasso, 1, 28020 Madrid
• Telephone: +34 919 032 784
• Email: gdpr@monexeurope.eu

The website's programming, design, logos, text, and graphics are owned by or licensed to the controller. "The total or partial reproduction, use, exploitation, distribution and commercialisation, requires in any case the prior written authorisation from the CONTROLLER." Third-party intellectual property on the site belongs to respective owners. The controller authorises redirection to specific content and the main website. Disputes: gdpr@monexeurope.eu.

Use of Cookies: The site employs technical cookies for navigation efficiency. Non-essential cookies require prior user consent. The company uses first-party and third-party analytical cookies and personalised advertising based on browsing profiles.

Link Policy: The controller disclaims responsibility for third-party website content but commits to removing content violating laws or public order immediately upon gaining effective knowledge.

Spanish law governs all disputes. Competent courts: the user's domicile or the place where obligations are fulfilled.

Monex Europa S.L. is committed to treating all customers fairly and addressing any complaints promptly and professionally.

These terms govern your access to and use of the Monex Europa S.L. website. By accessing this website, you agree to be bound by these terms and all applicable laws and regulations.

Monex Europa S.L. is committed to protecting your privacy in accordance with applicable data protection legislation in the Netherlands and the European Union.

This website uses cookies to enhance your browsing experience. By using this website, you consent to our use of cookies in accordance with this Cookie Policy.

These terms and conditions, together with any and all other documents referred to herein, set out the terms of use under which you may use this website, www.monfx.com ("Our Site"). Please read these terms and conditions carefully and ensure that you understand them. Your agreement to comply with and be bound by these terms and conditions is deemed to occur upon your first use of Our Site. If you do not agree to comply with and be bound by these terms and conditions, you must stop using Our Site immediately.

In this Policy, the following terms shall have the following meanings:

"personal data" means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the Personal Data Protection Act ("PDPA"); and

"We/Us/Our" means MonFX Pte. Ltd., a private limited company registered in Singapore with registration number 201611101E, whose trading address is 5 Shenton Way, UIC Building, #10-01, Singapore 068808.

2.1 Our Site is operated by pacwebhosting.uk Ltd, a limited company registered in the United Kingdom, whose registered address is International House, 61 Mosley Street, Manchester, M2 3HZ, United Kingdom.

2.2 Our Site is maintained by Cogent Design Limited, a private limited company registered in England under company number 03698789, whose registered address is 6b Parkway, Porters Wood, St Albans, Hertfordshire, AL3 6PA.

2.3 For any data protection or PDPA-related questions, please email dpo@monfx.com, or contact by post at DPO of MonFX Pte. Ltd., 5 Shenton Way, UIC Building, #10-01, Singapore 068808.

2.4 We are regulated by the Monetary Authority of Singapore as a Major Payment Institution under the Payment Services Act 2019.

3.1 Access to Our Site is free of charge.

3.2 It is your responsibility to make any and all arrangements necessary in order to access Our Site.

3.3 Access to Our Site is provided "as is" and on an "as available" basis. We may alter, suspend or discontinue Our Site (or any part of it) at any time and without notice. We will not be liable to you in any way if Our Site (or any part of it) is unavailable at any time and for any period.

4.1 All content included on Our Site and the copyright and other intellectual property rights subsisting in that content, unless specifically labelled otherwise, belongs to or has been licensed by Us. All Content is protected by applicable Singapore and international intellectual property laws and treaties.

4.2 Subject to sub-Clause 4.3 you may not reproduce, copy, distribute, sell, rent, sub-licence, store, or in any other manner re-use content from Our Site unless given express written permission to do so by Us.

4.3 You may:

• Access, view and use Our Site in a web browser (including any web browsing capability built into other types of software or app);
• Download Our Site (or any part of it) for caching;
• Print pages from Our Site;
• Download extracts from pages on Our Site; and
• Save pages from Our Site for later and/or offline viewing.

4.4 Our status as the owner and author of the content on Our Site (or that of identified licensors, as appropriate) must always be acknowledged.

4.5 You may not use any content saved or downloaded from Our Site for commercial purposes without first obtaining a licence from Us (or our licensors, as appropriate) to do so.

4.6 Nothing in these Terms and Conditions limits or excludes the provisions of Copyright Act (Chapter 63) 'Acts Not Constituting Infringement of Copyright Works', covering in particular the making of temporary copies; research and private study; the making of copies for text and data analysis for non-commercial research; criticism, review, quotation and news reporting; caricature, parody or pastiche; and the incidental inclusion of copyright material.

5.1 You may link to Our Site provided that: you do so in a fair and legal manner; you do not do so in a manner that suggests any form of association, endorsement or approval on Our part where none exists; you do not use any logos or trade marks displayed on Our Site without Our express written permission; and you do not do so in a way that is calculated to damage Our reputation or to take unfair advantage of it.

5.2 You may not link to any page other than the homepage of Our Site, www.monfx.com. Deep-linking to other pages requires Our express written permission.

5.3 Framing or embedding of Our Site on other websites is not permitted without Our express written permission. Please contact Us at dpo@monfx.com for further information.

Links to other sites may be included on Our Site. Unless expressly stated, these sites are not under Our control. We neither assume nor accept responsibility or liability for the content of third party sites. The inclusion of a link to another site on Our Site is for information only and does not imply any endorsement of the sites themselves or of those in control of them.

7.1 Nothing on Our Site constitutes advice on which you should rely. It is provided for general information purposes only.

7.2 Insofar as is permitted by law, We make no representation, warranty, or guarantee that Our Site will meet your requirements, that it will not infringe the rights of third parties, that it will be compatible with all software and hardware, or that it will be secure.

7.3 We make reasonable efforts to ensure that the content on Our Site is complete, accurate, and up-to-date. We do not, however, make any representations, warranties or guarantees (whether express or implied) that the content is complete, accurate, or up-to-date.

8.1 To the fullest extent permissible by law, We accept no liability to any user for any loss or damage, whether foreseeable or otherwise, in contract, tort (including negligence), for breach of statutory duty, or otherwise, arising out of or in connection with the use of (or inability to use) Our Site or the use of or reliance upon any content included on Our Site.

8.2 To the fullest extent permissible by law, We exclude all representations, warranties, and guarantees (whether express or implied) that may apply to Our Site or any content included on Our Site.

8.3 If you are a business user, We accept no liability for loss of profits, sales, business or revenue; loss of business opportunity, goodwill or reputation; loss of anticipated savings; business interruption; or for any indirect or consequential loss or damage.

8.4 Nothing in these Terms and Conditions excludes or restricts Our liability for fraud or fraudulent misrepresentation, for death or personal injury resulting from negligence, or for any other forms of liability which cannot be excluded or restricted by law.

9.1 We exercise all reasonable skill and care to ensure that Our Site is secure and free from viruses and other malware.

9.2 You are responsible for protecting your hardware, software, data and other material from viruses, malware, and other internet security risks.

9.3 You must not deliberately introduce viruses or other malware, or any other material which is malicious or technologically harmful either to or via Our Site.

9.4 You must not attempt to gain unauthorised access to any part of Our Site, the server on which Our Site is stored, or any other server, computer, or database connected to Our Site.

9.5 You must not attack Our Site by means of a denial of service attack, a distributed denial of service attack, or by any other means.

9.6 By breaching the provisions of sub-Clauses 9.3 to 9.5 you may be committing a criminal offence under the Computer Misuse Act (Chapter 50A). Any and all such breaches will be reported to the relevant law enforcement authorities and We will cooperate fully with those authorities by disclosing your identity to them.

10.1 You may only use Our Site in a manner that is lawful. Specifically, you must ensure that you comply fully with any and all local, national or international laws and/or regulations; you must not use Our Site in any way, or for any purpose, that is unlawful or fraudulent; you must not use Our Site to knowingly send, upload, or in any other way transmit data that contains any form of virus or other malware; and you must not use Our Site in any way, or for any purpose, that is intended to harm any person or persons in any way.

10.2 We reserve the right to suspend or terminate your access to Our Site if you materially breach the provisions of this Clause or any of the other provisions of these terms and conditions.

Use of Our Site is also governed by Our Cookie and Privacy Policies, available at Cookie Policy and Privacy Policy. These policies are incorporated into these terms and conditions by this reference.

12.1 We may alter these Terms and Conditions at any time. If We do so, details of the changes will be highlighted at the top of this page. Any such changes will become binding on you upon your first use of Our Site after the changes have been implemented.

12.2 In the event of any conflict between the current version of these terms and conditions and any previous version(s), the provisions current and in effect shall prevail unless it is expressly stated otherwise.

To contact Us, please email Us at dpo@monfx.com or use any of the methods provided on Our contact page.

14.1 Any and all personal information that We may collect will be collected, used and held in accordance with the provisions of the PDPA and your rights and Our obligations under that Act.

14.2 We may use your personal information to reply to any communications you send to Us.

15.1 These Terms and Conditions, and the relationship between you and Us (whether contractual or otherwise), shall be governed by and construed in accordance with Singapore law.

15.2 If you are a consumer, any disputes concerning these terms and conditions shall be subject to the jurisdiction of the courts of Singapore, as determined by your residency.

15.3 If you are a business, any disputes shall be subject to the exclusive jurisdiction of the courts of Singapore.

The Monex Group ("we", "our" or "us") comprises multiple legal entities, including but not limited to, MonFX Pte. Ltd. Members of the Monex Group may process certain personal data about you, depending on the scope of your specific relationship with us. Depending on the jurisdiction, processing of personal data is regulated under the Personal Data Protection Act 2012 of Singapore (PDPA), General Data Protection Regulation (2016/679) (the GDPR) and the e-Privacy Directive (2002/58/EC) (collectively referred to as the Data Protection Laws). We are responsible as 'controller' of your personal data for the purposes of those laws.

This Privacy Notice applies to the following three circumstances:

1. personal data processed when you visit and use our website;
2. any natural person that has been contacted through our direct marketing strategy, either via phone or email; and
3. personal data processed to service our potential and existing clients.

We will comply with the principles set out in the Data Protection Laws, which state that the personal data we hold about you must be:

• used lawfully, fairly and in a transparent way;
• collected only for valid purposes that we have clearly explained to you;
• relevant to the purposes we have told you about and limited only to those purposes;
• accurate and kept up to date;
• kept only as long as necessary for the purposes we have told you about; and
• kept securely.

Personal data means any information about an individual from which that person can be identified. It does not include data where your identity has been removed, such as anonymous data.

4.1 Personal data gathered from you

4.1.1 Website — When you visit our website, we acquire minimum personal data: information about your computer or device (browser type and settings); log data (webpage visited before, pages visited, time spent, IP address, access times, etc.); history of interaction with our webpages; and other personal data that does not directly identify you.

4.1.2 Marketing — We collect personal data you provide directly if you respond to our marketing campaigns, including call logs and email exchanges with our staff.

4.1.3 Client — At onboarding we collect: name, email address, telephone number, address, nationality, date of birth, identification documents, and signature. Throughout the business relationship we collect account activity (including payment instructions), communications with our staff, and usage of online portals.

4.2 Personal data from other sources — For marketing we may collect name, date of birth, country of residence, corporate email/telephone, and occupation from third parties via publicly accessible sources including LinkedIn, ACRA BizFile+, and news sources. For clients we may receive credit information, credit references, information from business partners/introducers/service providers, and legal and compliance checks.

4.3 Cookies and similar technologies — See our Cookie Policy.

5.1 Website — to interact with you, provide support services, make it easy to navigate our website, improve our website and products, and offer you content and services of interest. We also use data to comply with legal obligations.

5.2 Marketing — to directly market services that we legitimately believe will be of interest to you. Communications may be monitored and recorded for quality assurance, training, fraud prevention, statistical analysis, and compliance with relevant laws.

5.3 Client — for onboarding, identification and account management, sending contract notes, regulatory record keeping, processing trades, and statistical/behavioural analysis.

We may share your personal information with other group companies, affiliates and third parties to help us process it for the purposes set out in this Privacy Notice, including:

• members of the Monex Group depending on requested products and services;
• contractors, sub-contractors, business partners, introducers, suppliers and service providers;
• credit reference agents in accordance with our credit checking policy;
• law enforcement agencies in connection with investigations to help prevent unlawful activity;
• legal representatives and consultants where expert advice and legal opinions are required; and
• processors that maintain our IT systems.

Your personal data is never sold and any personal data that is shared is in line with the Data Protection Laws. We collect and use personal data to provide you with a service or product that you have requested, to comply with a legal obligation, pursuant to the Monex Group's legitimate interest (as long as these interests are not overridden by your data protection rights), or where you have given consent. Where the Monex Group asks for consent, you are free to withhold or revoke your consent by opting out.

We will keep your personal data in line with our Data Retention Policy. We may need to keep your data longer to comply with legal or regulatory requirements, respond to complaints, or prevent fraud and financial crime. If we are not required to retain the personal data, we will destroy, delete or anonymise it at the point it is no longer required.

We store your personal data in a secure environment. We have appropriate security measures in place, including encryption and other forms of security. We limit access to those with a genuine business need to know. We have procedures in place to deal with any suspected data security breach and will notify you and any applicable regulator where legally required.

Your personal data may be transferred to and stored in locations outside of Singapore. When we do this, we ensure the recipient entity has an appropriate level of protection and that the transfer is lawful through controls such as Standard Contractual Clauses.

We would like to send you information about products, services and our business which may be of interest, by post, email, or telephone.

11.1 Client — We will ask whether you would like us to send you marketing messages on the first occasion that you provide relevant contact information. If you opt in, you can opt out at any time.

11.2 Potential client — Marketing information may be sent based on personal data collected and processed in line with sections 4.1.2, 4.2.2 and 5.2.

We may do a credit check on you to make credit decisions and prevent financial crime. Any such search will be recorded on the files of the credit reference agency. We may also disclose personal data about how you conduct your account to credit reference agencies and your personal data may be linked to records relating to other people living at the same address with whom you are financially linked.

You have the following data protection rights:

• The right to access — request copies of your personal data and how we process it.
• The right to rectification — request correction or completion of inaccurate or incomplete data.
• The right to erasure — request erasure of your personal data, under certain conditions.
• The right to restrict processing — under certain conditions.
• The right to object to processing — if you do not wish to be contacted for the purposes set out in this notice.
• The right to data portability — request transfer of data to another organisation or to you, under certain conditions.

If you make a request, we have one month to respond to you.

This Privacy Notice was published on 1st January 2018. The last update was on 12th July 2021. We may update or amend this Privacy Notice from time to time. You should check this Privacy Notice frequently to ensure you are aware of the most recent version.

If you have any questions about this Privacy Notice or the personal data we hold about you, please contact our Data Protection Officer (DPO):

Email — dpo@monfx.com
Post — DPO of MonFX Pte. Ltd., c/o Monex Europe Limited, 1 Bartholomew Lane, London, EC2N 2AX.

If you have any complaints about this Privacy Notice or the personal data we hold about you, please contact us using the above contact information. If you are unsatisfied by our response you can contact the Personal Data Protection Commission:

Contact number: +65 6377 3131
Website: https://www.pdpc.gov.sg/Complaints-and-Reviews

This website uses cookies to enhance your browsing experience and analyse site traffic. Cookies are small text files placed on your computer or device when you visit our site. By continuing to use our website, you consent to our use of cookies in accordance with this Cookie Policy and our Privacy Policy.

You can manage and control cookies through your browser settings, including blocking or deleting cookies. For more information on the specific cookies used by MonFX Pte. Ltd. and how to adjust your preferences, please contact our Data Protection Officer at dpo@monfx.com.

If you are a client of MonFX Pte Ltd ("MonFX"), you can communicate the nature and details of your complaint to your account manager directly, either by phone or by email. Alternatively, please send all relevant information to customerservice@monfx.com and our Compliance Team will log and respond to your complaint.

Irrespective of complexity, we aim to provide the following during the complaint resolution process:

• Contact Details — in our initial response, we will outline who you can speak to for further information on your complaint and their contact details.
• Summary — after our investigation has taken place, you will be provided with an analysis of what has been reviewed and the subsequent conclusions reached.
• Final Response — a closing statement will be made confirming our position on your complaint. If this has not resolved matters and you are eligible, the complaint can be brought to the Financial Industry Disputes Resolution Centre Ltd ("FIDReC").

We are available during office hours, 9am until 5pm, Monday to Friday (excluding public holidays). You should receive a response to your initial enquiry within 2 business days. If we are unable to respond within 2 business days, we will update you on the status of your complaint until our investigation is complete. For clients of MonFX, we endeavour to investigate your complaint and provide a resolution within 20 business days. If we are unable to resolve your complaint within the given timeframes, we will contact you in writing to explain why and provide an estimate of when we expect to be able to provide a final response.

If you remain dissatisfied with our response, you may be eligible to approach the Financial Industry Disputes Resolution Centre Ltd ("FIDReC") with your case. FIDReC acts as an impartial adjudicator assisting consumers in the resolution of disputes with financial institutions; filing a complaint is free of charge.

FIDReC contact details:
The Financial Industry Disputes Resolution Centre Ltd
36 Robinson Road, #15-01 City House, Singapore 068877
Tel: +65 6327 8878
Email: info@fidrec.com.sg
Website: https://www.fidrec.com.sg/

For general advisory on disputes with a financial institution, see: MoneySense — Resolving a dispute with a financial institution.

The purpose of this document ("Best Execution Policy") is to inform you of how MonFX Pte. Ltd. ("MonFX") will execute trades with its clients. This takes into consideration the MAS Notice [SFA 04-N16] and Guidelines to MAS Notice SFA 04-N16 on Execution of Customers' Orders, in respect of the implementation of written policies and procedures for the following:

• To place or execute clients' orders on the best available terms; and
• To place or execute comparable clients' orders in accordance with the time of receipt of such orders.

This document only applies to clients who are accredited investors dealing in foreign exchange ("FX") over-the-counter derivatives (excluding spot) contracts with MonFX. Best execution is owed to such accredited investors where MonFX executes orders on behalf of clients who place reliance on MonFX to protect their interests in relation to pricing and other elements of the transaction.

Best execution is not owed to institutional investors as defined under the Securities and Futures Act and clients who are not placing reliance on MonFX to protect their interests.

MonFX will determine if clients are placing reliance on MonFX by taking into account the following four considerations:

• Which party initiates the transaction: Where the client initiates the transaction, it is less likely that the client is placing reliance on MonFX. Trade ideas, market communications or indicative prices provided as part of our general business are regarded as purely informational and shall not be deemed to have initiated the transaction.
• Market practice, including the convention of the client to 'shop around' for the best deal: Where market practice for a particular product suggests the client has access to different providers for quotes and has the ability to shop around, it is less likely the client is placing reliance on MonFX.
• Relative levels of transparency within a market: Where pricing information is transparent and reasonably accessible to the client, it is less likely the client is placing legitimate reliance on MonFX.
• Information provided by the firm about its services and any agreement reached with the client: Where any terms of agreement with the client do not suggest an understanding of reliance on MonFX or an agreement to provide best execution.

MonFX has a list of execution venues to execute transactions which we determine as beneficial in providing best execution. These venues will be based on our commercial judgement, consistency and reliability.

Where a duty to achieve best execution applies, MonFX will take account of the following factors when executing a transaction on behalf of the client:

• Price;
• Costs (including fees charged for execution, and clearing and settlement costs);
• Speed of execution — the time it takes to execute the order will depend on the price volatility and liquidity of the market;
• The likelihood of execution and settlement;
• The size and nature of the order; and
• Any other consideration that MonFX deems to be relevant to the execution of the order.

MonFX Pte. Ltd.'s full Client Terms & Conditions for Corporate Clients are set out in the document below. Please download the PDF for the complete, legally binding agreement that governs the business relationship between MonFX and its corporate clients.