Terms and Conditions of Using Brighty Investment Platform

Last Revised: 19 july 2023

1. Introduction

These Terms and Conditions govern your use Stock Investment Services through Brighty App platform (“platform”) By accessing or using the Brighty app, you agree to comply with and be bound by these Terms and Conditions. Please read them carefully.

2. Definitions

In these Terms and Conditions:

  • "Brighty", “Brighty app” and “app” refer to Brighty Digital UAB’s web and mobile platforms.
  • "Investment strategy account" and "Investment strategy portfolio" refers to the product offered by Nodabank Corporation through the Brighty app platform (“Services”).
  • "Nodabank" refers to Nodabank Corporation, which provides Services.

3. General Information

Brighty Digital UAB is a company providing the Brighty app platform, which allows users to manage their investment strategy accounts. The services are enhanced by integrating API services provided by Boosted.ai.

4. Licensing and Regulation

The services provided through the Brighty app by Nodabank Corporation

NODABANK CORPORATION Details:

  • Licensed by: Financial Services Unit, Commonwealth of Dominica
  • Address: 40 Kennedy Avenue, Roseau, Commonwealth of Dominica
  • Tel: +18337521560
  • GIIN: Q7INY5.99999.SL.212
  • LEI NUMBER: 254900J4G9UUPL34I825

5. Services

Brighty App provides users with the access to the platform to create and manage an investment strategy account, including:

  • AI-driven investment strategies
  • Real-time portfolio management

All investment services, including trade execution and investment account management, are delivered by Nodabank Corporation. Please refer to Nodabank Terms & Conditions for detailed information regarding the Services.

The Brighty App functions solely as a platform for accessing and interacting with Services. Below you may find Terms of use of the platform.

6. Opening an Investment Strategy Account

To open an investment strategy account, you must complete the registration process in the Brighty app, providing accurate and complete information as requested.

Whilst we have exercised all due care, skill and diligence in selecting, appointing and periodically reviewing the eligible third party, we are not responsible for any losses you may suffer as a result of any action that the eligible third party takes or fails to take in connection with client money other than as a result of our fraud, wilful act or gross negligence.

By entering into the agreement, you give express consent to your money being held in a pooled account.

If an eligible third party with whom client money is deposited becomes bankrupt or insolvent or has had a receiver, trustee, or liquidator appointed for all or substantially all its assets (we call each of these events an “insolvency event”) which results in a shortfall in the amount of client money held in the client money account, you may not receive your full entitlement and may share in the shortfall with other creditors of the eligible third party in accordance with applicable law. We will not be responsible to you for any losses you suffer as a result of any actions the eligible third party takes or fails to take in connection with client money or for the occurrence of any insolvency event in relation to the eligible third party, other than as a result of our fraud, wilful act or gross negligence.

7. Investment Strategy Account and Safety

Once your investment strategy account is open, you can use the Brighty app to manage your investments, execute trades, and monitor your portfolio's performance.

If you are a natural person, you can’t share your Investment account with another person, and the Investment account must only be opened in your name.

If you are a legal person, this agreement is binding on you, but you can authorise “Account owners” and “Authorised users”, that are categories of people defined as “authorised persons” in the Business Terms, to carry out activities relating to our agreement on your behalf.

You must keep safe any passwords or security credentials connected to your use of your investment account and the Brighty app and we are not responsible for any losses you suffer as a result of a person accessing your investment account because you did not keep your password and security credentials safe. Unless you have informed us otherwise, we are entitled to treat every action taken via your investment account as an action authorised and undertaken by you.

To help keep your investment account safe, you should download the latest software for your mobile device and the latest version of the Brighty app as soon as they are available.

8. Risks Related to Investments

Investing in financial markets involves significant risks, including the possible loss of your entire invested capital. The value of investments can fluctuate, and past performance is not indicative of future results. By using the Brighty Investment Platform, you acknowledge and accept the inherent risks associated with investing, which include but are not limited to:

  • 5.1 Market Risk
    Market risk refers to potential losses due to factors affecting overall market performance. This could be due to economic changes, political events, or natural disasters.
  • 5.2 Liquidity Risk
    Liquidity risk is the difficulty of buying or selling investments quickly enough to prevent or minimize a loss. This risk is heightened in times of financial stress when demand is low.
  • 5.3 Credit Risk
    Credit risk is the chance that an issuer or borrower will fail to meet their obligations in full and on time. This can impact the value and returns of your investments.
  • 5.4 Operational Risk
    Operational risk arises from inadequate or failed internal processes, people, systems, or external events. This includes risks like fraud, system failures, and human error.
  • 5.5 Legal and Regulatory Risk
    Legal and regulatory risk involves changes in laws and regulations that could adversely affect your investments. This includes changes in tax laws, securities laws, and other regulations impacting financial markets.

9. Fees and Charges

Fees and charges for using the Brighty app are detailed in the fee schedule available on our app. Brighty reserves the right to modify these fees at any time, without prior notice to users.

10. Order Execution and Pricing of Instruments

We’re not responsible for any movements in the underlying market or exchange between the time that your order has been transmitted to the third party broker for execution and the time that your order is executed by the third party broker or for any difference between the quote for the relevant instrument displayed via the investment platform and the eventual execution price that the third party broker is able to obtain at the point the third party broker executes your order in the underlying market.

In some circumstances, your order may be executed at a 'better' price and in other circumstances it may be executed at a 'worse' price than the quote for the relevant instrument displayed via the investment platform. If your order is executed by the third party broker at a 'worse' price than the quote for the relevant instrument at the time you submitted the order, we’re not liable to provide you with the difference in those prices.

While we'll do as much as reasonably possible to make sure your order is transmitted without delay to the third party broker for execution, we’re not responsible for the speed and/or timing of such order execution by the third party broker.

We won’t be responsible to you for any losses you suffer: (i) if the third party broker executes your limit order or stop order at a price that is different from the buy or sell limit price or stop price that you specify when you submit the limit order or stop order via the investment platform; (ii) if the execution of your order is subject to any delay outside of our reasonable control; (iii) if your order is cancelled; or (iv) if your order is not executed at all other than as a result of our fraud, wilful act or gross negligence.

11. User Obligations

By using the Brighty app, you agree to:

  • Provide accurate and complete information during registration.
  • Use the app for lawful purposes only.
  • Maintain the confidentiality of your account credentials.
  • Notify us immediately of any unauthorized use of your account.

12. Dispute Resolution and Jurisdiction

Any disputes arising from the use of the Brighty app will be resolved under the jurisdiction of the Commonwealth of Dominica, in accordance with regulations set by the Financial Services Unit.

13. Limitation of Liability

Brighty Digital UAB and its affiliates are not liable for any direct, indirect, incidental, consequential, or punitive damages arising from your use of the Brighty app. Our total liability is limited to the amount you paid for accessing our services.

14. Amendments

Brighty reserves the right to amend these Terms and Conditions at any time. Changes will be posted on our platform, and continued use of the app signifies acceptance of the amended terms.

15. Disclaimer

Brighty App does not provide investment advice, legal advice, tax advice, or any other form of professional advice. The information provided through the Brighty App is for informational purposes only and should not be construed as advice or a recommendation to buy, sell, or hold any investment.

16. Termination

We reserve the right to terminate or suspend your access to the Brighty app at any time, without notice, for conduct that violates these Terms and Conditions or is harmful to other users, us, or third parties.

17. Intellectual Property

All content, trademarks, and data on the Brighty app, including software, databases, text, graphics, icons, hyperlinks, private information, and designs, are the property of or licensed to Brighty and are protected by domestic and international laws.

18. Privacy Policy

Your use of the Brighty app is governed by our Privacy Policy, which is incorporated by reference into these Terms and Conditions. By using the app, you consent to the collection, use, and sharing of your information as described in the Privacy Policy.

19. Governing Law

These Terms and Conditions are governed by and construed in accordance with the laws of the Commonwealth of Dominica. By using the Brighty app, you agree to submit to the exclusive jurisdiction of the courts in the Commonwealth of Dominica.

20. Contact Information

For any questions or concerns regarding these Terms and Conditions, please contact us at:
Brighty Digital UAB
Email: support@brighty.app

21. Entire Agreement

These Terms and Conditions constitute the entire agreement between you and Brighty regarding the use of the Brighty app and supersede all prior agreements and understandings.

22. Severability

If any provision of these Terms and Conditions is found to be invalid or unenforceable, the remaining provisions will continue to be valid and enforceable.

23. Waiver

No waiver of any term of these Terms and Conditions will be deemed a further or continuing waiver of such term or any other term.

24. Assignment

You may not assign your rights or delegate your obligations under these Terms and Conditions without our prior written consent. We may assign our rights and obligations under these Terms and Conditions at any time.

25. Notices

Notices to you may be made via email or regular mail, or by posting notices or messages on the Brighty app. You agree that all agreements, notices, disclosures, and other communications that we provide to you electronically satisfy any legal requirement that such communications be in writing.

26. Feedback and Complaints

We value your feedback and are committed to resolving complaints promptly and fairly. Contact our support team with any issues or concerns about our services

27. Electronic Communications

By using the Brighty app, you consent to receiving electronic communications from us. These communications may include notices about your account and information concerning or related to the Brighty app.

28. User Content

You retain ownership of any content you submit through the Brighty app. By submitting content, you grant Brighty a worldwide, non-exclusive, royalty-free license to use, copy, modify, and distribute your content in connection with the operation of the Brighty app.

29. Prohibited Conduct

You agree not to engage in any of the following prohibited activities:

  • Using the Brighty app for any illegal purpose.
  • Interfering with or disrupting the Brighty app or servers.
  • Maintain the confidentiality of your account credentials.
  • Attempting to gain unauthorized access to the Brighty app or user accounts.

30. Disclaimer of Warranties

The platformi provided "as is" and "as available" without any warranties of any kind. Brighty disclaims all warranties, whether express or implied, including the warranties of merchantability, fitness for a particular purpose, and non-infringement.

31. Indemnification

You agree to indemnify and hold Brighty, its affiliates, and their respective officers, directors, employees, and agents harmless from any claims, liabilities, damages, losses, and expenses, including legal fees, arising out of or in any way connected with your use of the Brighty app.