Futures Terms and Conditions

These Terms and Conditions (“T&Cs”) constitutes an agreement between you, as the user of futures trading services (“you” or “User”) and PT Porto Komoditi Berjangka, a limited liability company engaging in the business field of Futures Broker (Pialang Berjangka) and having the license no. 003/BAPPEBTI/SI/10/2024 (“We / Us / Our“) in relation to the futures trading services as made available at the Platform (as defined below) and in accordance with these T&Cs (“Futures Trading Service“). All capitalized terms not otherwise defined herein shall have the same meanings provided to those terms in the Terms and Conditions and policies as elaborated in the paragraph below.  

The Futures Trading Services is available at the application and/or web site operated by Our partner, being PT Pintu Kemana Saja (“Pintu“) (“Platform“), by accessing, using, or clicking the Futures Trading Services, you confirm and agree that regardless of your location and/or nationality, you have read, understood, and consented to be bound by the (i) Terms and Conditions of Platform, (ii) Privacy Policy of Platform, (iii) Pintu Pro T&Cs, (iv) these T&Cs; and (v) Our Privacy Policy; together with any of its future amendments and additions as may be notified by Us to you  through the Platform, and/or any other media designated by Us, and your continued use of the Futures Trading Service after any such changes, shall constitute your consent and acceptance of the updated T&Cs. 

If you do not agree to be bound by the above-mentioned Terms and Conditions, Privacy Policy, policies, and/or these T&Cs, you should not access or use or by any way should stop accessing or using the Futures Trading Service.

A. Availability of Futures Trading Services

1. 1. You understand and agree that the Futures Trading Service is provided to you as is. To the extent permitted by applicable law and in accordance with Our sole discretion, We have the right to modify, develop, temporarily suspend, stop providing, and/or delete, either in whole or in part, Futures Trading Service. We with our best efforts, will notify you of each of the actions mentioned above.
   2. Unless otherwise stated in these T&Cs, to the extent permitted by applicable law, We and Our affiliates or service providers make no representations, warranties or promises whatsoever, whether expressed or implied, regarding the performance, availability, reliability, and accuracy of: 1) any software and/or hardware used in connection with Futures Trading Service; 2) every application, website, and/or feature used or accessed by you in relation to your usage of Futures Trading Service; and 3) the quality of the telecommunications network used by you to access Futures Trading Service.

B. Description of Futures Trading Service

Futures Trading Service is a perpetual contract enabling you to speculate against the movement of Crypto Assets price without any due date.    

C. Access to and Usage of Futures Trading Service

1. 1. Futures Trading Service is currently only available and accessible through the Platform for devices with iOS and/or Android and is only able to be utilized by Users who have registered and fulfilled the eligibility requirements as set out by Us and Pintu through each terms and conditions as well as the applicable policies. 
   2. In order to access and use the Futures Trading Service, you must first log in to your account at the Platform through your device (“Account“); and once logged in, you can access the Pintu Pro by clicking the ‘Pintu Pro’ icon displayed on the Platform.
   3. Margin: 
      1. You must deposit and store in your Account, and/or provide Us, Margin in a certain form and amount, at a certain time and in connection with the Account as may be requested by Us from time to time in Our sole and absolute discretion. For the avoidance of doubt, the amount of Margin that must be deposited by you must comply with the minimum limit as stated on the Platform. 
      2. The list of Crypto Assets that can be used to qualify as Margin will be determined by Us. We may change the list from time to time in our sole discretion and may (but are not obligated to) notify you of any changes to the list of eligible Crypto Assets that fulfil the requirements applied to its valuation before such changes take effect. 
      3. You agree to allocate the required Initial Margin to your Account before executing any transaction in relation to the Futures Trading Service (“Transaction“). If you do not allocate the specified Initial Margin to your Account, then you will not be permitted to carry out Transactions. The Initial Margin required for a particular Transaction will be determined by reference to the notional value of the relevant position and the applicable leverage. 
      4. To carry out a Transaction, provide any instructions in connection with a Transaction, or close any open position in connection with a Transaction, you may do so by placing the relevant Order with Us through the use of the Futures Trading Services via the Platform.
   4. By using the Futures Trading Service, you hereby acknowledge and agree that:
      1. the Trading Rules provided under the Terms and Conditions of Platform shall also apply as relevant and applicable to the usage of Futures Trading Service; 
      2. you will bear all responsibilities for all actions related to your use of Futures Trading Service. For the avoidance of doubt, this responsibility remains in effect whether the actions are authorized by you, or exercised by you, third parties which include your agents, contractors or representatives. We do not assume responsibility for unauthorized entry into your Account, even if such access results from fraudulent activities, phishing attempts, or other unlawful actions conducted by third parties against you. You are required to ensure that your utilization of Futures Trading Service complies with all relevant laws and regulations;  
      3. you may be subject to supplementary terms and conditions, or other applicable policies set forth by the issuer of the Crypto Assets, and/or any other relevant third party;
      4. We do not control any blockchain protocol and smart contract and therefore are not liable for any loss caused by the error of the blockchain protocol and/or smart contract;  
      5. you hereby acknowledge and agree that you shall assume sole responsibility for reviewing and verifying any Transactions you intend to confirm;     
      6. in the event that which We deem, at Our sole discretion, there is an indication that your usage of Futures Trading Service, either directly or indirectly, associated with illicit activities or actions that breaches the terms outlined in these T&Cs (referred to as “Restricted Actions“), We may undertake necessary measures, including but not limited to freeze your Account, decline, and/ or suspend Transactions from your Account. Additionally, steps may be taken to close your Account in compliance with the relevant laws. In certain situations, We may also find it essential to report suspected unlawful activities to appropriate law enforcement agencies. You may be required to cooperate with Us and/or the relevant authorities during the investigation and resolution process of the affected Transaction to restore normal and lawful usage of Futures Trading Service; and 
      7. some explanations/provisions on specific matters (including the specific types of Futures Trading Service’s sub-features and how the features work) may be provided directly on the Platform and/or any of Our other publications, and therefore, you agree to also be bound by such explanations/provisions and in case where those are in discrepancy with these T&Cs, those provided on the Platform and/or publications shall apply.   

D. Users’ Obligations and Restrictions

1. 1. You further agree to protect and keep secure your Account including those pertaining to Futures Trading Service, as well as be accountable for any disclosure or use of your Account. In the event where you become aware, or there’s a reason to suspect that the confidentiality of your Account has been compromised or if there’s any unauthorized use of your Account, you must immediately: a) change your login credentials; and b) notify Us and allow Us to disable your Account for further investigation.
   2. For the avoidance of doubt, you are prohibited from revealing your security details or password to your Account to Us, Pintu or any other party, irrespective of the circumstances or by whatever means. Failure to comply with this prohibition will result in your complete responsibility and accountability for all Transactions conducted through your Account, whether with or without your knowledge and consent. To note, We will be unable to void, reverse, or refund any money from the Transaction in which the security code to your Account has been used, whether by yourself or a third party with access to it.
   3. We will always assume and consider that any usage on behalf of your Account is carried out by you, and We reserve the right to conclude that such usage or activity is done or initiated by you. We will not assume liability for any losses or damages arising from your failure to safeguard your Account information.
   4. You hereby acknowledge and agree that all relevant intellectual property rights (whether registered or not registered) are owned by Us and/or the relevant third party, and you shall not, in any way, infringe upon Our and/or any third party’s copyrights, trademark rights, and other intellectual property rights or legal rights and interests. 
   5. In your use of Futures Trading Service, We may be required to establish and verify your identity, or the identity of any relevant beneficial owner pursuant to the applicable laws, regulations, notices and guidelines. We and/or Pintu may therefore require you to provide your identification documents or collect your personal information for this purpose. You hereby acknowledge that We and/or Pintu may collect such data on request, and use such data provided for the purposes of establishing your identity and implementing an ongoing monitoring program to ensure the adherence of Us, Pintu and you to the applicable laws, regulations, notices and guidelines, together with sharing such data internally with its affiliates and with its relevant and authorized third-parties (both in Indonesia and overseas), as well as in relation to transfers and reporting of such data and your Transactions to the relevant authority, and such other government or regulatory authority as We and/or Pintu may deem appropriate or as may be required under any applicable laws, regulations, notices and/or guidelines. 

E. Notice of Risks

You acknowledge and agree that the use of Futures Trading Service inherently involves certain risks. These risks include, but are not limited to, the followings: 

1. 1. Third Party Risks
      1. Certain third-party services may require your acceptance of contracts or agreements governed by their distinct terms and conditions. These contractual agreements may encompass clauses pertaining to data sharing, financial commitments, and mechanisms for dispute resolution. Prior to engaging with third-party services, it is imperative that you diligently review and comprehend the contractual terms to ensure strict adherence. We also recommend that you seek legal advisors to assist you as may be necessary. 
      2. The use of third-party services, or blockchain protocols alongside with Futures Trading Service may expose you to additional risks. These third-party services operate independently and their security, reliability and compliance with applicable regulations may vary. You are responsible for evaluating risks associated with third party services, as well as comprehend the respective terms of use and privacy policies. For the avoidance of doubt, the actions or policies of the third-party service are beyond Our control, and We hereby expressly state that We do not and will not assume responsibility for any losses or disputes arising from your interactions with third-party services. 
   2. Futures Trading Risks
      It is important to note that futures trading involves very high risks of losses and is not suitable for everyone. You should carefully observe your investment goals/purposes, financial resources and risk tolerance to determine whether the futures trading and/or its related products/features is/are appropriate for you. You acknowledge that futures trading with respect to Crypto Assets is a highly speculative activity involving highly leveraged and rapidly fluctuating markets. You further understand and accept the significant risks associated with the use of ‘margin’ and ‘leverage’ and have determined that the use of margin and/or leverage is consistent with your investment goals/purposes. Despite such risks, you acknowledge, understand, and agree that you are willing and able to assume the financial risks and any other risk of futures trading with respect to Crypto Assets and agree that you will not in any way hold Us responsible for Losses incurred by you under or in connection with these T&Cs and/or any other Terms and Conditions and policies related thereto issued by Us.  You acknowledge that futures trading involves the potential for profit as well as the risk of losing substantially more than your initial deposit. You do not own or have any rights to the underlying instruments – which includes Crypto Assets and any rewards or yields generated from them.
   3. Phishing or Scam Risks
      There are risks where phishing websites, deceptive dApps, and/or fraudulent schemes will seek to deceive you into revealing your sensitive information relating to the usage of Futures Trading Service and/or your Account. We do not have full control over possible phishing or scams. However, We, with our best commercially feasible effort, will attempt to prevent any phishing and/or scams measures within the Futures Trading Service. Regardless of the latter, you are responsible to always be cautious in using Futures Trading Services.
   4. No Guarantee of Returns
      The value of Crypto Assets can change, either increasing or decreasing, significantly from time to time. We hereby expressly states that We do not provide any guarantee and is not responsible to you for any returns of investments on your usage of Futures Trading Service.
   5. Tax Risks
      Any Transactions performed through your Account may have tax implications. It is your sole responsibility to report and pay any applicable taxes on your Crypto Assets and Transactions.
   6. No Guarantee of Exact Timing
      You understand and agree that when you redeem or access your Crypto Assets, the time it actually takes for you to receive the Crypto Assets in your Account may vary, and the Crypto Assets received and displayed on your Account at the Platform shall be final. We and/or Pintu shall not be liable for any losses as a result of the aforementioned.

F. Implementation of the Anti-Money Laundering and Prevention of Terrorism Funding and Proliferation of Weapons of Mass Destructions

As required by the applicable laws and regulations, We and Pintu implement the Anti-Money Laundering and Prevention of the Financing of Terrorism program as well as the Proliferation of Weapons of Mass Destruction. In this regard, We and/or Pintu may suspend, delay and/or refuse any Futures Trading Service registration/application and/or any Transaction made by you if there is an indication of a violation by you of these matters. You hereby understand, acknowledge and agree that you will not raise any objection in connection with the actions that Pintu and/or We take related to the implementation of the program (including requests for further information in connection with a Transaction, through the Customer Due Diligence and/or Enhanced Due Diligence process).

G. Representation, Warranties, and Undertakings

Without prejudice to the representations, warranties and other promises that have been provided in these Terms and Conditions, You represent, warrant and undertake that:

1. 1. Any data and/or information that you provide to us is correct, original, complete and factual. You understand and agree that you will be absolutely responsible for any such data;
   2. You will not impersonate any individual or entity, or falsely state your association with any individual or entity;
   3. You represent and warrant that you will use the Services in good faith and will not carry out any actions that are prohibited under applicable laws and regulations, including but not limited to money laundering and/or financing terrorism, funding the proliferation of weapons of mass destruction, violations of Intellectual Property Rights, unlawful use of personal information belonging to other third parties, gambling activities and/or other activities prohibited under applicable laws and regulations;
   4. You are not included in the List of Suspected Terrorists and Terrorist Organizations and the List of Funding for the Proliferation of Weapons of Mass Destruction, as published by the Indonesian Government, including but not limited to the Center for Financial Reporting and Analysis and government or authorized organizations in other jurisdictions as relevant;
   5. You are not included in the Sanctions List, including but not limited to the UN Sanction List, OFAC, and EU Commission.
   6. You are not a citizen of the United States, were not born in the United States, are not a United States green card holder, do not transact with banking accounts or other financial services institutions created in the United States, have no tax obligations in the United States, and do not represent or play a role for and on behalf of other parties who are United States citizens.
   7. You will not do anything that could have a negative impact on us and our affiliates, shareholders, directors, board of commissioners, employees and/or agents, including but not limited to defamation and violation of Our and/or Pintu’s Intellectual Property Rights .
   8. You will not use the Futures Trading Service in any way that could disrupt, interfere with, negatively influence or inhibit other users from using the Futures Trading Service, or that could damage, disable or interfere with the functionality and operation of the Platform.
   9. You will not use or upload any material or software that contains viruses, malicious code or dangerous components that can interfere with and/or damage data on the Platform, and/or disrupt and/or damage the operation of the Futures Trading Service, Platform, computer or device belonging to other users.
   10. You will not do anything that aims to trick or deceive us, traders, investors or any party in the Crypto Asset futures trading ecosystem in a way designed to create, influence, manipulate or mislead trading conditions, market conditions or prices of certain Crypto Assets.

Users represent, warrant, and promise to Us that all information and statements mentioned above are true, correct and accurate and will continue to be true, correct and accurate during your use of the Futures Trading Service. These representations and warranties will be deemed to be repeated whenever you give us an order, enter into any Transaction or create any account on the Platform.

H. Indemnification and Limitation of Liability

You agree to defend, indemnify and hold Us harmless and any of Our affiliates, shareholders, directors, commissioners, employees and agents from any claims, demands, civil law suits, criminal law suits, damages, losses, costs or expenses (including reasonable attorney’s fees) arising from or related to:

1. 1. your use of, or your actions in connection with, the Futures Trading Service and/or Platform, including but not limited to your inability to use the Futures Trading Service and/or Platform;
   2. every message, comment (feedback) submitted by you;
   3. your violation of these T&Cs and/or applicable laws; and/or
   4. your violation of any rights of another party, or any other entity.

Unless otherwise stated by law, We (along with affiliates, shareholders, directors, commissioners, employees and agents) will not be responsible for any special, indirect or consequential losses, including but not limited to loss of profits, loss of income, loss of reputation, loss of data experienced by you in connection with the use of Futures Trading Service.

I. Update to T&Cs

We have the right to change, modify, add and/or make variations to these T&Cs from time to time. We, on a best commercially feasible effort basis, may provide ten (10) business days’ notice of any changes, which We in our reasonable discretion deems material, to these T&Cs following which your continued use of Futures Trading Service, with or without the notification of such changes, will be deemed to confirm your acceptance of such changes. You remain responsible for knowing any changes made to these T&Cs. Therefore, we suggest that you check and read these T&Cs from time to time.

BY USING THE FUTURES TRADING SERVICE ON THE PLATFORM CONTINUOUSLY AFTER SUCH CHANGES ARE MADE, THE USER IS CONSIDERED TO HAVE ACCEPTED ANY CHANGES TO THESE  T&CS. IF THE USER DOES NOT AGREE TO ANY CHANGES MADE, THE USER SHOULD STOP USING THE FUTURES TRADING SERVICE IN THE PINTU PLATFORM. THE USER WILL NOT RECEIVE ANY COMPENSATION FROM US FOR ANY CHANGES TO THESE T&Cs.

J. Service Fees of Futures Trading Service

PT Central Finansial X (formerly known as PT Bursa Komoditi Nusantara (“CFX“)) and us,  are entitled to amend every applicable fee in relation to Futures Contracts at any time through a written notification to the Customer.

Notes: Initial Margin for open positions will also reserve the entered taker fees and exited taker fees up to the time when such order is filled. After the order is filled, Maintenance Margin will reserve the exited taker fees and funding rates.

K. Taxes

You agree that: 

1. 1. these T&Cs shall be subject to all prevailing statutory taxes, duties, fees, charges and/or costs, however denominated, as may be in force and in connection with any future taxes that may be introduced at any point of time;
   2. you will use your best efforts to do everything necessary and required by the relevant laws to enable, assist and/or defend Us to claim or verify any input tax credit, set off, rebate or refund in respect of any taxes paid or payable in connection with Futures Trading Service under these T&Cs; and 
   3. you agree that details of your Account (including those specifically related to the Futures Trading Service) and all Transactions thereunder may be provided on request to any tax authorities either in Indonesia or overseas where the purpose of such request is the lawful payment of tax obligations and/or the identification of assets for taxation.

K. Governing Law and Dispute Settlement 

1. 1. Governing Law
      These T&Cs, your use of Futures Trading Services, any claim, counterclaim or dispute of any kind or nature whatsoever arising out of these T&Cs, directly or indirectly, shall be governed by, and construed in accordance with the laws of Indonesia without regard to the principles of conflicts of laws thereof. 
   2. Dispute Settlement

1. 1. 1. Dispute Resolution Method
         You acknowledge and agree that in the event of any dispute, the parties shall first refer the dispute by way of amicable settlement.
      2. Arbitration Rules and Jurisdiction
         If within 21 (twenty) business days after the date when the amicable settlement conducted there is no settlement agreed upon for the dispute, the User agrees that the dispute will be resolved through the dispute settlement means provided by the Futures Exchange.

         If through dispute resolution provided by the Futures Exchange no agreement is reached to resolve the dispute, then the User agrees that the dispute will be resolved through the Commodity Futures Trading Arbitration Agency (Badan Arbitrase Perdagangan Berjangka Komoditi/BAKTI). All dispute resolutions will be carried out in accordance with applicable laws and regulations including, but not limited to, Commodity Futures Trading Supervisory Agency (BAPPEBTI) Regulation Number 4 of 2020 concerning Guidelines for Resolving Customer Disputes in the Commodity Futures Trading Sector.

      3. Final and Binding Nature
         Any arbitral award shall be final and binding upon the parties hereto and shall be enforceable in any competent court which has jurisdiction. No party hereunder shall be entitled to commence or file any action in a court of law relating to any dispute arising from or in relation to this Agreement except for the purpose of recognition and enforcement of any arbitral award granted by arbitration as provided herein.
      4. No Class Action or Litigation
         You agree to resolve any and all disputes with Us on an individual basis through arbitration instead of as part of any class action or representative litigation.

M. Data Privacy 

We fully commit to protect and prioritize the confidentiality and security on your personal data, documents, information, and personal statements. Having said that, We will not collect, process, share, store and/or delete personal data from you in a way that is against the law.   

In connection with your use of Futures Trading Service, you understand and agree that you are bound by Our Privacy Policy and all changes thereto that can be made at any time, as included in these T&Cs as a reference. 

N. Language (For Indonesian Users Only)

These T&Cs are prepared and provided in the versions of English and Indonesian languages and both versions are validly applicable and binding against you. In the event of any inconsistency between the English language text and the Indonesian language text, or if there should be any dispute on the meaning or interpretation of certain provisions, you hereby agree that the English language text shall prevail and the Indonesian language text will be deemed to be automatically amended to conform with and to make the relevant Indonesian language text consistent with the relevant English language text.   

O. Entirety

These Pintu Pro T&Cs together with the (i) Terms and Conditions of Platform, (ii) Privacy Policy of Platform, (iii) Pintu Pro T&Cs, (iv) these T&Cs; and (v) Our Privacy Policy; together with  any of its future amendments and additions as may be notified by Us to you  through Pintu Platform, and/or any other media designated by Us, as well as any other documents referred to herein or therein relating to the subject matter hereto shall constitute the entire agreement between you and Us in relation to the subject matter hereof. You hereby agree that every provision in such Terms and Conditions and policies and is not otherwise defined herein will also be applicable, as relevant and applicable, for these T&Cs.