Terms and Conditions (“Terms”)
Last updated: January 21, 2019
Please read these Terms and Conditions (“Terms”, “Terms and Conditions”) carefully before using the https://newmexcapital.io website (the “Service”) operated by NEWMEXCAPITAL (“us”, “we”, or “our”).
Your access to and use of the Service is conditioned on your acceptance of and compliance with these Terms. These Terms apply to all visitors, users and others who access or use the Service.
The use or reliance of any information offered by NEWMEXCAPITAL is solely at your own risk.
By accessing or using the Service you agree to be bound by these Terms. If you disagree with any part of the terms then you may not access the Service.
Links To Other Web Sites
Our Service may contain links to third-party web sites or services that are not owned or controlled by NEWMEXCAPITAL.
NEWMEXCAPITAL has no control over, and assumes no responsibility for, the content, privacy policies, or practices of any third party web sites or services. You further acknowledge and agree that NEWMEXCAPITAL shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on or through any such web sites or services.
We strongly advise you to read the terms and conditions and privacy policies of any third-party web sites or services that you visit.
The provided Service
NEWMEXCAPITAL is not a financial advisor and is not providing financial advice.
The use or reliance of any information or service offered by NEWMEXCAPITAL is solely at your own risk. Before taking any actions based upon such information, we encourage you to consult with the appropriate professionals.
NEWMEXCAPITAL trades for its clients, directly in their exchange account, thru the API Key that they provided.
Trading cryptocurrencies with leverage involves substantial risk and there is always the potential for a total loss of funds.
The loss of funds (partial or total) can occur due to bad trading decisions, errors in our trading terminal or money management software or due to an unexpected event. If total or partial loss of funds occurs NEWMEXCAPITAL can not be held accountable for.
Past performance is no guarantee for future performance. No representation is being made that any account will or is likely to achieve profits or losses similar to past ones. In fact, there are frequently sharp differences between past performance results and the actual results subsequently achieved by any particular trading program.
Demo Accounts and the minimum deposit for trading
NEWMEXCAPITAL does not trade with accounts that have a balance of less than 0.02 BTC.
All accounts that have a balance between 0.02 BTC and 0.1 BTC are considered Demo Accounts.
NEWMEXCAPITAL trades with Demo Accounts as long as there are free slots on the server dedicated to them.
The number of slots dedicated to the demo accounts can be increased or decreased without any prior notice.
We are compensated for our services in two ways:
- 25% commission from the client’s profit (also referred to as profit share) calculated after the “High-Water Mark” formula
- 20% of the exchange’s* taker fee that is applied to the traded volume of each market entry and market exit.
*currently we only trade on BitMEX and the taker fee is 0.075% for normal accounts and 0.0625% for referred accounts
Once an exchange account is eligible for commissioning, NEWMEXCAPITAL will send in the first Sunday at 23:59 UTC a notification containing the amount of BTC that has to be paid and the address where it has to be sent.
The exchange account holder must pay the total amount of the agreed-upon remuneration in maximum 48 hours after the notification has been sent.
For clients that choose not to pay, trading in their account will resume only after they have paid the commission.
High-Water Mark formula
A high-water mark is the highest peak in value that the account has reached. After commissioning, the account will be eligible for commissioning again only after it surpasses the high-water mark if no other withdrawals or deposits are made. If other deposits and withdrawals are made the account will be eligible for commissioning only after the commission payed to NEWMEXCAPITAL is recovered thru trading profits. The high-water mark ensures that NEWMEXCAPITAL does not get paid for the same profit twice or for poor performance*.
Poor performance refers to the scenario in which after commissioning, the remaining balance suffers a drawdown due to bad trading decisions. In this case the account will be commissioned only after the drawdown and the paid commission are recovered.
- Deposited: 20 BTC
- Profit after one week: 4 BTC
- Total: 24 BTC
- NEWMEXCAPITAL’S COMMISSION (25% from profit) : 1 BTC
- New balance after commissioning: 23 BTC
- The account will be commissioned again only after the commission paid to NEWMEXCAPITAL (1 BTC) is recovered through trading.
If BTC is deposited after commissioning the high-water mark will still be applied. Continuing with the example from above:
- New balance after commissioning: 23 BTC
- Deposit 5 BTC
- New total balance 28 BTC
- The account will be eligible for commissioning only after the commission paid to NEWMEXCAPITAL (1 BTC) is recovered. The same logic will be applied in the case of a withdrawal.
Floating profit is not taken in consideration.
Floating loss may or may not be taken in consideration. Depending on the position size, loss, market conditions and potential incoming moves of the market we may choose to ignore or not the floating loss.
The Referral Program
A unique referral id and sign-up link will be generated for each client thus giving him the opportunity to be a referrer. If one or more accounts are created using that sign-up link, the referrer will receive the equivalent of 3% from the profits of the referred clients.
The referrer’s commission will not be granted until the referred account has paid the profit share to NEWMEXCAPITAL.
Clients can not refer their own accounts.
The Partners Program
We refer to as partners to third party signal providers/traders that lease our API Portfolio Management Solution (Portfolio Management Software + Trading Terminal) in order to trade for their clients. NEWMEXCAPITAL only offers the means for the trading process to take place.
We make no guarantee, implied or otherwise, as to the information provided to investors by third party signal providers, or through their respective websites. As such, use of these third party signal providers is at the investor’s own risk. You acknowledge and agree that NEWMEXCAPITAL is not responsible for any shortcomings, trading errors, charging or billing errors, misrepresentations, losses or any wrongdoing caused by the said third party signal provider(s).
The returns for signal providers listed throughout this website are hypothetical in that they represent returns in a model account. Past performance is no guarantee for future performance. In fact, there are frequently sharp differences between past performance results and the actual results achieved. The actual percentage gains/losses experienced by investors will vary depending on many factors, including, but not limited to: starting account balances, market behavior, the investor’s account settings, and the performance of the Trader. Because of this, actual percentage gains/losses experienced by investors may be materially different than the percentage gains/losses as presented on this website.
You agree to bear complete responsibility for your choice of Partner(s) and acknowledge that NEWMEXCAPITAL has not and will not make any specific recommendations to you upon which you are entitled to rely. You also understand that the information disseminated on this website represents impersonal, disinterested opinions and commentary of NEWMEXCAPITAL and its employees and agents, and that the information does not constitute investment advice or a recommendation to trade using any specific Partner.
Partners can choose to be listed on our Partners page free of cost.
Every Partner acknowledges and agrees to the fact that NEWMEXCAPITAL tracks their trades through a model account in order to determine their performance (accuracy, profitability).
For each listed Partner we will show the measured performance through the model account.
We may terminate or suspend access to our Service immediately, without prior notice or liability, for any reason whatsoever, including without limitation if you breach the Terms.
In case of termination, all open position will be closed without regard to the floating profit or loss and trading on the respective account(s) will be halted.
All provisions of the Terms which by their nature should survive termination shall survive termination, including, without limitation, ownership provisions, warranty disclaimers, indemnity and limitations of liability.
Our failure to enforce any right or provision of these Terms will not be considered a waiver of those rights. If any provision of these Terms is held to be invalid or unenforceable by a court, the remaining provisions of these Terms will remain in effect. These Terms constitute the entire agreement between us regarding our Service, and supersede and replace any prior agreements we might have between us regarding the Service.
Clients can choose to terminate the collaboration at any time without any prior notice.
The deletion of an API Key from the client’s side will be interpreted as termination.
We reserve the right, at our sole discretion, to modify or replace these Terms at any time. If a revision is material we will try to provide at least 15 days notice prior to any new terms taking effect. What constitutes a material change will be determined at our sole discretion.
By continuing to access or use our Service after those revisions become effective, you agree to be bound by the revised terms. If you do not agree to the new terms, please stop using the Service.
If you have any questions about these Terms, please contact us.