Frec Terms of Use

Published April 2022

As used in these Terms of Use, “Frec” means Frec Markets, Inc. and its web experience with its wholly owned subsidiary, Frec Securities LLC. These Terms of Use are in addition to any agreements between you and Frec Markets, Inc. and Frec Securities LLC, including any customer or account agreements that govern your use of software, website, products, services, content, tools, and information provided by Frec.

General

Frec is pleased to provide or make available certain content (the “Content”) on its website and web platform (collectively, the “Service”). Content includes, without limitation: (1) account positions, balances, transactions, confirmations, and order history; (2) general news and information, commentary, research reports, educational material and information and data concerning the financial markets, securities and other subjects; (3) market data such as quotations for securities transactions and/or last sale information for completed securities transactions reported in accordance with federal securities regulations; (4) financial and investment interactive tools, such as alerts or calculators; (5) tax preparation, bill payment and account management tools; (6) company names, logos, product and service names, trade names, trademarks, and service marks (collectively, “Marks”) owned by Frec, and Marks owned by Third Party Providers; and (7) any other information, content, services, or software. Certain Content is furnished by third parties, such as content, services, and software.

Acceptance of Terms

By using or accessing Frec’s website or web platform, you agree to follow and be bound by these Terms of Use, including the policies referenced herein. Your use of Frec’s website or web platform is governed by the version of these Terms in effect on the date you access them. Frec may modify these Terms at any time and without prior notice. You should review the most current version of these Terms by visiting frec.com/terms or clicking the “Terms of Use” hyperlink at the bottom of the page at frec.com.

Use of Frec

The Frec website and web platform are intended for your personal, non-commercial use, unless you and Frec have agreed otherwise in writing. No part of the Service or Content may be copied, reproduced, republished, uploaded, posted, publicly displayed, encoded, translated, transmitted or distributed in any way (including “mirroring”) to any other computer, server, website or other medium for publication or distribution or for any commercial enterprise, without Frec’s express prior written consent.

When an account is made, you agree to ensure all data provided is accurate and true. You agree to continue to make necessary updates to the account if any information becomes outdated or incorrect. You are solely responsible for your account info, including protecting and maintaining your password.

Self-Directed Accounts

Frec provides self-directed investors with brokerage services and unless clearly identified in writing to you as an individualized recommendation, Frec does not make recommendations or offer investment advice of any kind. As a self-directed investor, you are solely responsible for evaluating the merits and risks associated with the use of any Content provided through the Frec website or web platform. You agree not to hold Frec or any Third-Party Provider liable for any possible claim for damage arising from any self-directed decision you make based on the Content or other information made available to you through the Frec website or web platform or Third-Party Provider websites.

Monitoring by Frec

Your use of the products and services on this website may be monitored by Frec, and the resultant information may be used by Frec for its internal business purposes or in accordance with the rules of any applicable regulatory or self-regulatory organization.

Privacy

If you use or obtain any Frec product or service, Frec will collect information about you and use it and share it in accordance with Frec’s Privacy Policy and Privacy Notice. Please read Frec’s Privacy Policy for a full description of how Frec will collect, use and share information about you. You may view these documents through links in this provision or on the Frec site at the Privacy Policy page. These Terms of Use do not limit the application of the Frec Privacy Policy or Privacy Notice.

Communicating with you

You expressly give permission to Frec to contact you according to the following terms:

  • Registration & Accounts. You agree that Frec may contact you about any matter relating to your registration with Frec, your submission of an inquiry for any Frec product or service, your application for a product or service, and for any purpose arising out of or in connection with any account you may obtain from Frec. We may contact you for any purpose related to any account you have, such as payment reminders or suspicious activity.
  • Marketing. You agree that Frec may contact you to tell you about, and to offer for sale, products or services we believe will be of interest to you. If we do so, each communication we send to you will contain instructions permitting you to “opt out” of receiving future communications.
  • Agents. You agree that Frec may use agents or representatives to contact you on our behalf.
  • Phone and SMS. You agree that Frec may contact you through any means, including emails, telephone, and SMS messages (including text messages). Frec and its agent or representative may leave messages on your answering machine, voice mail, or send messages via text.
  • Accurate numbers. You certify telephone numbers you have provided to us are your contact numbers, and that you are permitted to receive calls at each of the telephone number you have provided to us. You agree to promptly alert us whenever you stop using a particular telephone number. We may contact you using any information you have provided to Frec, at any telephone number, or any physical, email, or electronic address you provide or at which you may be reached.
  • Push-Notifications/Alerts. You may select for Frec to send you messages called “Alerts” by text or phone. Alerts may be delayed or prevented by factor(s) affecting your internet/phone provider or other relevant entities. Frec is not liable for losses or damages arising from non-delivery, delayed delivery, or the erroneous delivery of any Alert, or inaccurate Alert content. You are responsible for your use or reliance on the contents of any Alert for any purpose. The information in any Alert may be subject to certain delays. Each Alert may be encrypted and may include your name and information pertaining to your account(s). Frec may terminate your use of Alerts at any time without notice. You may choose to discontinue receiving Alerts by updating you Frec App Notification preferences.
  • You are responsible for messaging Costs. Frec may use any means of communication described in this section even if you will incur costs to receive such phone messages, test messages, e-mails, or other means. You are responsible for any and all charges, including but not limited to, fees associated with text messaging, imposed by your communications service provider. Please consult your mobile service carrier’s pricing plan to determine the charges for sending and receiving text messages. These charges will appear on your phone bill. Message frequency depends on account status or settings. We may modify or terminate our text messaging services from time to time, for any reason, and without notice, including the right to terminate test messaging with or without notice, without liability to you.

Frec SMS Two-Factor Authentication Program

  1. This program is for sending of two-factor authentication short code messages.
  2. You can cancel the SMS service at any time. Just text “STOP” to the short code. After you send the SMS message “STOP” to us, we will send you an SMS message to confirm that you have been unsubscribed. After this, you will no longer receive SMS messages from us. If you want to join again, update your SMS two-factor authentication inside the Frec platform under “settings” and we will start sending SMS messages to you again.
  3. If you are experiencing issues with the messaging program you can reply with the keyword HELP for more assistance, or you can reach out directly to help@frec.com.
  4. Carriers are not liable for delayed or undelivered messages.
  5. As always, message and data rates may apply for any messages sent to you from us and to us from you. You will receive one message per authentication attempt. If you have any questions about your text plan or data plan, it is best to contact your wireless provider.
  6. If you have any questions regarding privacy, please read ourPrivacy Policy.

Connected Accounts

Frec offers products and services that allow you to “connect” or “link” external accounts, such as a bank account, a brokerage account held at another institution. You agree to the following terms and conditions when you connect an account at another institution:

  • If you elect to connect or link any such account at another institution, we refer to it as a “Connected Account.”
  • Frec will obtain your account information. If you elect to connect an external account to Frec, Frec will obtain information from the Connected Accounts. The specific information Frec obtains may vary by institution and account type. You should assume Frec will obtain from the account any information that is available to you. For example, if you connect a bank account, Frec can collect any information from the account, including balance information.
  • Use of Connected Information. If you elect to connect an account through any Frec service, Frec may use the information from the connected account for any purpose permitted by Frec’s Privacy Policies, including use of the information to identify products and services that may be of interest to you, sharing information with affiliated companies to offer products and services to you, and identifying if you would be likely to be eligible for certain products and services.
  • Use of Plaid Services. To connect an account, Frec requires you to use a service offered by Plaid Inc. (“Plaid”). By using this Services, you acknowledge and agree that Plaid’s Privacy Policy will govern Plaid’s use of information it collects about you or that you provide to Plaid, and you expressly agree to the terms and conditions of Plaid’s Privacy Policy. Further, you expressly grant Plaid the right, power, and authority to access and transmit your information as reasonably necessary for Plaid to provide the Services to you.

Disclaimer and Limitations of Liability

The Content and the Service are provided on an “as is” basis. To the fullest extent permitted under applicable law, Frec and the Third-Party Providers expressly disclaim all warranties of any kind with respect to the Content and the Service, whether express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose and non-infringement. Neither Frec nor Third-Party Providers guarantee the accuracy, timeliness, completeness or usefulness of any Content. You agree to use the Content and the Service only at your own risk. Neither Frec nor the Third-Party Providers explicitly or implicitly endorse or approve any Third-Party Content. Third Party Content is provided for informational purposes only.

The Content is not intended to provide financial, legal, tax, or investment advice or recommendations, unless specifically identified as individualized recommendation in writing. You are solely responsible for determining whether any self-directed investment strategy or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situations.

FREC AND THIRD-PARTY PROVIDERS WILL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING, BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, REVENUE, INCOME, GOODWILL, USE, DATA OR OTHER INTANGIBLE LOSSES (EVEN IF FREC OR ANY THIRD-PARTY PROVIDER HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES), RESULTING FROM: (1) THE USE OF OR THE INABILITY TO USE THE CONTENT OR THE SERVICE; (2) THE COST OF PROCUREMENT OF SUBSTITUTE GOODS AND SERVICES RESULTING FROM ANY GOODS, DATA, INFORMATION OR SERVICES PURCHASED OR OBTAINED OR MESSAGES RECEIVED OR TRANSACTIONS ENTERED INTO, THROUGH OR FROM THE SERVICE; (3) ACCESS TO OR ALTERATION OF YOUR ACCOUNT, TRANSMISSIONS OR DATA DUE TO YOUR CONDUCT, INACTION OR NEGLIGENCE; OR (4) ANY OTHER MATTER RELATING TO THE CONTENT OR THE SERVICE.

U.S. Citizens and Legal Residents Only

Frec’s Content and Service are intended for United States citizens and legal U.S. residents only. They should not be considered a solicitation to any person in any jurisdiction where such solicitation would be illegal.

Content

Content posted on Frec’s Service is published as of its stated date or, if no date is stated, the date of first posting. Neither Frec nor the Third-Party Providers have undertaken any duty to update any such information.

Frec does not prepare, edit, or endorse Third Party Content. Frec also does not guarantee the accuracy, timeliness, completeness or usefulness of Third-Party Content, and is not responsible or liable for any content, advertising, products, or other materials on or available from third party sites.

Any price quotes may be delayed 15 minutes or longer, according to the rules and regulations applicable to exchanges and Third-Party Providers. Neither Frec nor the Third-Party Providers make any representations, warranties or other guarantees as to the accuracy or timeliness of any price quotes. Neither Frec nor the Third-Party Providers make any representations, warranties or other guarantees as to the present or future value or suitability of any sale, trade or other transaction involving any particular security or any other investment.

Termination; Modification

You agree that, without notice, Frec may terminate these Terms of Use, or suspend your access to the Service or the Content, with or without cause at any time and effective immediately. These Terms of Use will terminate immediately without notice from Frec if you, in Frec’s sole discretion, fail to comply with any provision of these Terms of Use. Frec shall not be liable to you or any third party for the termination or suspension of the Service or the Content, or any claims related to such termination or suspension.

Frec and/or the Third-Party Providers may discontinue or modify the Content, or any portion thereof, at any time. You release and agree to indemnify and hold harmless Frec, and the Third-Party Providers, for any loss or damages arising from or relating to such discontinuation or modification.

Frec may at time revise or modify these Terms of Use by updating this document. You agree to be bound by subsequent revisions or modifications and agree to review these Terms of Use periodically for changes. The most updated version of this document will be available for your review under the “Frec Terms of Use” link that appears on Frec’s Services.

Applicable Policies

In addition to these Terms of Use, your access to and use of the Content and the Service is subject to Frec’s then-current policies relating to the Content and the Service. You agree to be bound by these policies and all other Frec policies applicable to the access and use of the Content and the Service.

By using the Service, you are consenting to have your personal data transferred to and processed by Frec. As part of providing you the Service, Frec may need to provide you with certain communications, such as service announcements and administrative messages. These communications are considered part of the Service, which you may not be able to opt-out from receiving.

Indemnification

You will indemnify and hold harmless Frec and the Third-Party Providers, and the officers, directors, agents, partners, employees, licensors, distributors, and representatives of Frec and the Third-Party Providers, from and against any and all claims, demands, actions, causes of action, suits, proceedings, losses, damages, costs, and expenses, including reasonable attorneys’ fees, arising from or relating to your access and/or use of, or interaction with the Content (including, without limitation, Third Party Content), or any act, error, or omission of your use of your account or any user of your account, in connection therewith, including but not limited to, matters relating to incorrect, incomplete, or misleading information; libel; invasion of privacy; infringement of a copyright, trade name, trademark, service mark, or other intellectual property; any defective product or any injury or damage to person or property caused by an products sold or otherwise distributed through or in connection with the Service; or violation of any applicable law.

Applicable Law and Venue; Severability

You agree that these Terms of Use shall be governed by and interpreted in accordance with the laws of the State of California, without giving effect to principles of conflicts of law. Any legal action or proceeding arising under these Terms of Use will be brought exclusively in courts located in San Francisco County, California, and you hereby irrevocably consent to the personal jurisdiction and venue therein. If any provision of these Terms of Use is deemed unlawful, void or for any reason unenforceable, then that provision will be deemed severable from these Terms of Use and will not affect the validity and enforceability of the remaining provisions.

Questions

This document constitutes Frec’s complete Terms of Use for Frec’s Content and Services.

If you have any questions about these Terms of Use or about Frec’s Content and Services, please contact Frec at help@frec.com.

You can also contact us by physical at:

Frec Securities LLC
3033 N Clark St.
Chicago, IL 60657