Clients acknowledge and understand that they are exposed to, and are willing to undertake, the following material risks in accessing or using Matrix Limited’s (“Matrix ”) Services:
- Clients are advised not to engage in Virtual Assets investing / trading unless they fully understand the nature, complexity and risk inherent in the transactions they are entering into and the extent of their exposure to loss.
- The risk of loss in trading Virtual Assets may be substantial and losses may occur over a short period of time.
- Virtual Assets are not legal tender and are not backed by a government.
- The features, functions, characteristics, operation, use and other properties of any Virtual Asset and the software, networks, protocols, systems, and other technology (including, if applicable, any blockchain) used to administer, create, issue, transfer, cancel, use or transact in any Virtual Asset may be complex, technical or difficult to understand or evaluate.
- The value, or process for valuation of Virtual Assets, including the risk of a Virtual Assets having no value;
- The price and liquidity of Virtual Assets has been subject to large fluctuations in the past and may be subject to large fluctuations in the future;
- The volatility and unpredictability of the price of Virtual Assets relative to Fiat Currencies.
- The trading in Virtual Assets may be susceptible to irrational market forces.
- The nature of Virtual Assets may lead to an increased risk of fraud and other financial crimes.
- The nature of Virtual Assets may lead to an increased risk of cyber-attack and stolen of Virtual Assets.
- There is very limited or, in many cases, no mechanism for the recovery of lost or stolen Virtual Assets.
- Transactions in Virtual Assets may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. Any Virtual Asset and its underlying technology may be vulnerable to attacks on the security, integrity or operation of the Virtual Asset, including attacks using computing power sufficient to overwhelm the normal operation of a blockchain or other underlying technology.
- Any Virtual Asset or underlying technology may change or otherwise cease to operate as expected due to a change made to the underlying technology, a change made using features or functions built into the underlying technology or a change resulting from an attack. These changes may include, without limitation, a “fork” or “rollback” of a Virtual Asset or blockchain.
- The risks of Virtual Assets being transacted via new technologies (including distributed ledger technologies (DLT)) with regard to, among other things, anonymity, irreversibility of transactions, accidental transactions, transaction recording, and settlement;
- There is no assurance that a person who accepts a Virtual Asset as payment today will continue to do so in the future;
- The nature of Virtual Assets means that technological difficulties experienced by Matrix may prevent the access or use of Client’s Virtual Assets;
- Any links to Virtual Assets related activity outside the Abu Dhabi Global Market (“ADGM”) may be unregulated or subject to limited regulation;
- Legislative and regulatory changes or actions by the Financial Services Regulatory Authority (“FSRA”) or Non-ADGM regulator may adversely affect the use, transfer, exchange, and value of a Virtual Asset;
- Fiat currency in your Fiat Account may not be subject to applicable deposit insurance protection.
- Matrix may perform additional reviews, including but not limited to requesting additional documentation during the review of Client’s onboarding and any virtual asset trade and transaction request.
- Virtual assets gains are typically subject to tax, depending on the client’s country of residence. Clients are obliged to complete the tax formalities accordingly . If you have any further tax concerns pertaining to Virtual Assets visit your country’s tax website or consult your own financial , investment , tax or legal adviser. Matrix does not provide any financial , investment , tax or legal advice to its clients.
- The value of Virtual Asset may be derived from the continued willingness of market participants to exchange Fiat Currency or Virtual Assets for Virtual Assets, which may result in the loss of value of a particular Virtual Asset should the market for that Virtual Asset disappear.
- Matrix will strive to ensure accuracy of information listed on this website although it will not hold any responsibility for any missing or wrong information. Clients should understand that they are using any and all information available as it is and at their own risk.
- Restricted Access - Matrix’s platform must not be accessed by any person subject to a restricted jurisdiction (e.g. due to that person’s nationality and/or place of residence and/or tax domicile and/or place of business and/or restrictions in or prohibitions of trading and investing in Virtual Assets or assets) in which this access is strictly prohibited for any reason. Persons to whom these restrictions apply are prohibited from accessing and using the exchange interface and in the event it is found out by Matrix the account will be closed immediately.
The risks described in above may result in the loss of Virtual Assets, a decrease in or loss of all value for Virtual Assets, an inability to access or transfer Virtual Assets, an inability to trade Virtual Assets, an inability to receive financial benefits available to other Virtual Asset holders, and other financial losses to you.
Clients agree and understand that they are solely responsible for determining the nature, potential value, suitability, and appropriateness of these risks for themselves, and that Matrix does not give advice or recommendations regarding Virtual Assets and the transactions on the Matrix Website or API, including the suitability and appropriateness of, and investment strategies for, Virtual Assets.
Clients agree and understand that they access and use matrix at their own risk; however, the risks detailed above do not contain all of the risks associated with virtual assets and using matrix services. Clients should, therefore, carefully consider whether such use is suitable for them in light of their circumstances and financial resources. Clients should be aware that they may sustain a total loss of the funds and virtual assets in their matrix account.