This agreement is between MadanFX (hereinafter referred to as “Company”, “we” or “our”), on the one hand, and the Client (which may be a legal or natural person), who filled out the Application Form for opening an account and accepted by the Company as a Client (“Client”, “you” or “your”), on the other hand.
This Client Agreement, including Application 1, which periodically changes, establishes the terms on which the Company provides Services to the Client, and defines the relations between the Parties. By submitting an application for opening a trading account with the Company, the Client accepts the terms and conditions of this Agreement.
Before concluding this Agreement, the Client must carefully read all the above-mentioned documents constituting the Agreement, as well as other letters and notifications sent by the Company and various documents posted on the Company’s Website, and make sure that he understands them and agrees.
This agreement cancels all other agreements, arrangements and express and implied statements made by the Company or any Recommender. The fact of your registration as a user of the Trading Platform means that you have accepted the terms and conditions of the Client Agreement.
When we use the words “you” and “your”, we mean the Company Client licensed to use the Trading Platform, or any other visitor to our Website (www.madanfx.com) who is not a Company client. If you decide to download our Software to use the trading demonstration, then the terms and conditions of this document apply to you. By downloading the Software, you confirm your agreement with them and undertake to comply with them, even though you are not a Client and we have no obligations towards you.
For any questions you can contact the Company at the following contact details:
E-mail: [email protected]
1.1. In this Agreement:
”Account Details “means the unique username and password that you have chosen to access and use the Trading Platform.
“Partner” in relation to the Company is any person who directly or indirectly controls or is controlled by the Company, or any person who is under the direct or indirect control of the Company. “Control” means the management of the affairs of the Company or a person.
”Agreement “means this” Customer Agreement “, as well as any subsequent Appendices that may be posted on the Company’s Website.
“Authorized Person” means you or any of your representatives, partners, managers or employees.
“Applicable Regulations” means (a) rules of a supervisory authority with authority over the Company; (b) applicable market rules; (c) any applicable laws, rules and regulations of the European Union..
”Base currency”means the first currency (cryptocurrency) of the Currency pair against which the Customer buys or sells the quoted currency (cryptocurrency).
«Working day “means any day, excluding Saturday, Sunday, December 25, January 1 and other holidays of the United Kingdom of Great Britain and Northern Ireland or other countries, which are announced on the Company’s Website additionally.
”Purchase “means a Transaction opened by means of an offer to purchase a certain number of Underlying Assets.
“Closing at a loss” means an offer to close a Transaction in a position at a price determined by you in advance. When buying, this price is lower than the opening price of the Transaction; when selling, it is lower than the opening price of the Transaction..
”Closing with Profit ”means an offer to close a Transaction at a price determined by you in advance. When buying, this price is higher than the opening price of the Transaction; when selling, it is lower than the opening price of the Transaction..
“Contract for Difference” means a financial instrument that is a contract between the parties (usually described as “buyer” and “seller”), requiring the seller to pay the buyer the difference between the current price of the Underlying Asset and its price in the future; if this difference is negative, then the buyer, on the contrary, pays the seller.
“Currency pair” means an object or underlying asset of a contract based on a change in the price of one currency against another. A currency pair consists of two currencies (Quoted and Base) and shows how much Quoted currency is needed to purchase one unit of Base Currency.
“Failure Case” is defined in paragraph 27.1
“Difference” means the difference in price between opening a Transaction and closing it.
“Effective Date” means the date on which you downloaded or received a copy of the Trading Platform by any other means..
“Expert Advisor” means a mechanical online trading system designed to automate work in an electronic trading platform, such as the Company’s Trading Platform. It can be programmed to send alerts to the Client about trading opportunities or to automatically work on the Trading Account with control of all aspects of trading operations from sending orders directly to the Trading Platform to automatically correcting the loss limit, trailing stop and profit taking.
“Expiry Date” means the date defined in the Trading Platform in relation to the Underlying Asset, on which any open Transaction on this Asset automatically terminates.
“Financial data” means any financial and market data, price offers, news, analyst opinions, research reports, signals, charts and other information available through the Trading Platform.
“Financial institution” means banks, financial institutions, brokerage firms and other trading organizations.
“Financial Instrument” means Financial Instruments of the Company, which are traded on the Company’s Trading Platform, and full details of which can be found on the Company’s Website.
“Force Majeure” is defined in paragraph 17.1.
”FATCA” means the United States Federal Law on Taxation of Foreign Accounts.
“Initial Margin” means the minimum amount of money that must be in the Trading Account to open a Transaction, as indicated from time to time in the Trading Platform for each Underlying Asset.
“Intellectual Property Rights” means patents, trademarks, service marks, logos, design, trade names, Internet domain names, design rights, copyrights (including computer software rights), database rights, rights to the design of integrated circuits, industrial design rights, know-how rights and all other intellectual property rights, registered and unregistered, including applications for registration, as well as any other forms of protection and equivalent and measures anywhere in the world.
“Recommender” is defined in paragraph 39.1
“Investment Services” means the Investment Services of the Company, full details of which can be found on the Company’s Website.
“Long position” in trade means buying a position that rises in price when the base market prices rise. For example, in Currency pairs, this will be the purchase of the Base currency versus the Quoted currency.
“Restrictive order” is defined in paragraph 2.4 of the Applications 1.
“Support Margin” means the minimum amount of money that must be in your Trading Account according to the Trading Platform to support an open Transaction in the Trading Platform.
“Explicit Error” means any error that we may reasonably consider obvious, including, but not limited to, proposals to execute Transactions with too large amounts of Underlying Assets, with clearly incorrect market prices or prices with a clear loss.
“Margin” means collectively Initial Margin and Support Margin.
“Margin Requirement” means our requirement for you to increase the amount of money in your Trading Account to meet our Margin Terms, which we may from time to time make in our sole discretion, including but not limited to.
“Market Order” means an Order executed at the best market price available.
“Normal Market Size” means the maximum amount of Underlying Assets, which, in its sole discretion, is sufficient for comfortable trading in the Underlying Market, taking into account (if applicable) the normal size of the market according to Underlying Market or any other equivalent or analogue established by the Underlying Market, which underlying asset is being traded.
“Open Position” means any open and non-closed contract (call or put).
“Order” means the order of the Trade Client.
“Quotation” means information about the current price of a certain Underlying Asset in the form of the Buyer’s Price or Seller’s Price.
“Quoted price” in the Contract means the second currency of the Currency pair that the Customer can buy or sell for the Base currency.
“Sides” means the parties to this Customer Agreement: the Company and the Customer.
“Reference point” in transactions means one-hundredth percentage point.
“Position” means your position in relation to any currency or cryptocurrency currently open in your Trading Account.
“Registration Data” means certain personal and financial information that you must provide in order to download and use the Trading Platform and become our Client, including your Account Details. Such information may include, but is not limited to, a copy of a passport, driver’s license and / or photo identification card..
“Put option” means one of two options in cryptocurrency trading. If a trader believes that the price of the underlying asset is reduced by the final date, he can acquire a call option.
“Sale” means a transaction that is opened by placing a certain number of underlying assets for sale. In our relationship with you, it may also be referred to as “short” or “short position.”.
“Services” means the services provided by the Company to the Customer under this Agreement in accordance with paragraph 8.1.
“Scalping” means a situation in which the Client opened too many positions at the same time and closed them earlier than five minutes, or bought at the Buyer’s Price and sold at the Seller’s Price in order to get the difference between these prices.
“Slippage” means the difference between the expected price of a transaction and the actual price of the Transaction. By the time the Order is executed, the price requested by the Client may not be available; thus, the price of execution of the Order will differ by several basis points as requested by the Client. If the execution price is better than the price requested by the Client, it is said about positive slippage. If the execution price is worse than the price requested by the Client, the negative slippage is indicated. Slippage often occurs during periods of high volatility (for example, due to news), which makes it impossible to execute an Order at a given price when using market orders, as well as when executing large Orders and insufficient interest at a given price level to maintain the price of the transaction.
“Software” means the software provided by us that you will need to download in order to use the Trading Platform.
“Spread” in trade means the difference between the Seller’s Price and the Buyer’s Price on the Underlying Asset at the same time.
“Swap or rollover” in trading means the percentage added or deducted for keeping the position open through the night.
“Exercise price” means the price at which the owner can purchase (call) or sell (put) the underlying asset.
“Trading Account” means an exclusive personal account of the Client, consisting of all Open Positions and Client Orders, the balance of the Client’s funds and the Client’s deposit and withdrawal transactions. More information about the various types of Trading Accounts offered by the Company from time to time, as well as their characteristics and conditions can be found on the Website.
“Trading Platform” means an electronic mechanism managed and supported by the Company. It consists of a trading platform, computer devices, software, databases, telecommunications equipment, software and hardware that provide the Client’s trading activities through the Trading Account.
“Trailing Stop” means a loss stop order set a percentage below the market price for a Long Position. The price of a trailing stop is adjusted as price fluctuates. A trailing stop order for sale sets the stop price to a fixed value below the market price with the “sliding” value attached..
”Third Party License “means a third party license relating to software embedded in or used by the Trading Platform..
“Exchange Session” means the trading time specified in the Trading Platform for each Underlying Asset.
“Transaction” means the opening or closing of an offer to buy or sell on the Underlying Asset in the Trading Platform by you or us.
“Base asset” means an object or base asset. It can be a currency pair (currency and cryptocurrency). The list of currency pairs may change, so the Client should check with the Trading Platform every time.
“Base market” means the relevant market in which the Underlying Asset is traded. This could be a cryptocurrency exchange, a clearing house, a self-regulatory organization, a multilateral trade organization, or any other system for trading Financial Instruments or Basic Assets..
“Website” means the Company’s website at www.madanfx.com or any other website created by the Company.
“Written Notice” is defined in paragraph 34.4.
1.2. Words in the singular also mean the plural, and vice versa. Words in the masculine also mean feminine and vice versa. Words meaning persons also mean corporations, partnerships that do not have the status of a corporation organization, and any other legal entities, and vice versa..
1.3. Paragraph headings are for ease of reading only..
1.4. Any reference to any action, regulation or law must take into account all changes, modifications, additions, consolidations, re-commissioning or replacement that may occur from time to time, all forecasts, directives, legislation, regulations and orders must comply with those laws they replace, modify or reintroduce.
- Licensing and use of the Trading Platform.
2.1. The trading platform is not intended for distribution or use by any person who:
(a) younger than 18 years old, does not have legal capacity and (or) is not in his right mind;
(b) is located in a country in which such distribution or use violates local laws and regulations. The trading platform and any other service we provide are not available to residents of countries in which cryptocurrency trading and similar services violate local laws and regulations. You must find out all local laws and regulations in which you are located and adhere to them.;
(c) is a citizen or resident of the United States of America or Canada, since the Company does not accept Clients from these countries;
(d) is an employee, director, partner, agent, partner of the Company or its partners, or is otherwise connected with them, including related ties.
2.2. Without diminishing the foregoing, we reserve the right to reasonably and reasonably suspend and (or) deny access to the Trading Platform and its use to any person in its sole and absolute discretion..
2.3. You admit that we may provide the Trading Platform to other parties, and agree that nothing in this Agreement can be interpreted as an obstacle to the provision of such services.
2.4. In accordance with the terms and conditions of this Agreement, we grant you a personal, limited, non-exclusive, revocable, non-transferable and non-transferable right to install and use the Trading Platform only in the object code, solely for personal use and to benefit in accordance with the terms of this Agreement.
2.5. If any third-party software is included or incorporated into the Trading Platform, then it must comply with the terms of this Agreement that apply to the Trading Platform. You must fully comply with the terms of all Third Party licenses, which we occasionally grant to you. We do not provide any express or implied warranties, indemnifications or support for Third-Party Licenses and are not responsible for them.
2.6. We reserve all rights to the Trading Platform, which are clearly not transferred to you in this Agreement. The trading platform is provided to you for use, not purchased. The trading platform, all its copies and derivatives (by whomever they were created), related intangible assets, copyrights, trademarks, logos, know-how, patents and other intellectual property rights are and will be exclusively owned by the Company or its licensors. Except for the rights expressly granted to you in this paragraph, no other right or share of any intangible asset, trademark, copyright, logo, know-how, patent, service mark and any other intellectual property rights to the Trading Platform and any part or derivative thereof you are not transferred.
2.7. You agree to take all reasonable steps to:
(a) acquiring and maintaining in proper working condition throughout the term of this Agreement and at its own expense equipment, working environment (including operating system software), backup facilities and infrastructure for the installation, operation and support of the Trading Platform (including, but not limited to uninterruptible power systems and spare electrical equipment);
(b) prevent any viral infection, security breaches and other events leading to damage to the Trading Platform as a result of your actions or inaction;
(c) implement a plan to implement and maintain proper protection against unauthorized access to your computer, viruses and other dangerous materials, devices, information and data.
2.8. If you encounter problems when working with the Trading Platform or want to suggest modifications, improvements or design changes, please let us know in writing. We have the right, but not the obligation, to make any modifications to the Trading Platform based on your suggestions. Any modifications, improvements and design changes based on your suggestions remain the Company’s unconditional property.
2.9. We provide a Trading Platform with satisfactory knowledge and skills.
2.10. We have the right, from time to time, at our sole discretion, to add, modify or delete any part of the Trading Platform without responsibility under this Agreement. In this case, we will take all reasonable steps to replace parts of the Trading Platform with equivalents, if possible.
2.11. We have the right to close the Trading Platform for technical work at any time without notifying the Client, however this will be done only on weekends. In such cases, the Trading Platform will be unavailable.
2.12. We do not give any explicit and indirect express guarantees regarding:
(a) that the Trading Platform will always be available, at any time or on a continuous basis (access to the Trading Platform may be interrupted, for example, by scheduled maintenance, repair, adjustment or updating);
(b) work, quality and functionality of the Trading Platform;
(c) the fact that the Trading Platform is free of errors and defects;
(d) the fact that the Trading Platform does not contain viruses and any other carriers of harmful and destructive characteristics, including those that lead to the loss or corruption of data and other property. We are not responsible for the loss of data or the replacement of equipment or software as a result of using the Trading Platform.
The company warns that its guarantees do not extend to cases of malicious intervention by third parties, as well as improper work of persons not under the direct control of the Company.
(a) you can use the Trading Platform only when you are authorized to do this;
(b) cannot use the Trading Platform for any purpose other than that described in this Agreement;
(c) Responsible for the use of the Trading Platform (including Account Details).
2.14. You won`t:
(a) use the Trading Platform for illegal and improper purposes;
(b) (try) to disrupt the proper operation of our software and hardware, systems and networks, including (but not limited to) file transfer by ignorance or negligence, which could damage, destroy or limit the functionality of any computer software or hardware, systems and networks, whether files corrupted or infected with viruses, trojans, worms, spyware and other malicious software;
(c) attempt to gain unauthorized access to our computer systems or computer systems of any other users and any parts of the Trading Platform to which you do not have the right of access, perform reverse engineering or bypass the security measures implemented by the Company in the Trading Platform in any other way;
(d) take any actions that can interrupt or worsen the provision of the Trading Platform to other users;
(e) spread any false, illegal, abusive, slanderous, degrading, hostile, racist, threatening, dangerous, vulgar, obscene, inflammatory and any other unacceptable material in any form;
(f) carry out any commercial activity based on the Trading Platform;
(g) knowingly or carelessly uploading or downloading files containing software or other materials protected by copyright, trademarks, patents, and other intellectual property rights (or privacy rights, if applicable), unless rights, control them or obtain the necessary consent to do so;
(h) falsify the source or origin of any content and material;
(i) use any software that applies analysis based on artificial intelligence in relation to the Company’s systems and (or) Trading Platform;
(j) intercept, track, damage or modify any communications that are not intended for you;
(k) use any types of spiders, viruses, worms, trojans, time bombs and other codes, and instructions designed to distort, delete, damage or disassemble the Trading Platform or the communication and any other system of the Company;
(l) send unsolicited commercial correspondence that is not permitted by applicable laws or Applicable Regulations;
(m) do anything that could violate the integrity of the computer systems of the Company or the Trading Platform, cause a failure in these systems or stop their work;
(n) do anything that could potentially provide incorrect or unauthorized access to or use of the Platform;
(o) enter the Trading Platform without a legal basis and execute an order to buy or sell a Financial Instrument from such a location or from such an IP address, where it is not permitted by law.
2.15. You may not upload, save or copy the Trading Platform.
2.16. If we have reasonable grounds to suspect you of violating the conditions of paragraphs 2.13–2.15, we have the right to take countermeasures from paragraph 27.2.
2.17. We reserve the right to suspend or block access to the Trading Platform at any time.
- Account details and security /
3.1. If we accept you as our Client, we will open a Trading Account in your name, from which you can place Orders in our Trading Platform. You agree and understand that the Company provides various types of Trading Accounts with different margin conditions and characteristics. .
3.2. Для доступа к Торговому счету вам необходимо ввести Реквизиты счета, выданные вам нами. Они конфиденциальны и должны использоваться только вами.
(a) responsible for maintaining the confidentiality of your account details and for taking measures to prevent their use by anyone other than you;
(b) must immediately notify us if you find out that your Account Details have become compromised in any form or any third party can access the Trading Platform;
(c) agree that we are not required to establish the credentials of any person entering your account number or account details. Your use of your account details by any third party is expressly prohibited..
3.4. If we believe that a security breach has occurred, we may require you to change your Account Details or suspend your access to the Trading Platform. We reserve the right to edit and change Account Details, issue new Account Details to you, and require you to change your Account Details at any time upon notification..
3.5. You undertake to ensure that you solely control access to your Account Details and no other person, including a minor, has access to the Trading Platform through your Account Details. You acknowledge that you are personally and fully responsible for all actions on the Trading Platform using your Registration Data, including any unauthorized disclosure of your Account Details .
3.6. You undertake to immediately inform us first verbally and then in writing about all known cases of loss, theft or use of any part of your Registration Data, including Account Details, by any person other than you. We will take steps to exclude the subsequent use of such Account Details and create other Account Details. You will not be able to place Orders until new Account Details are received..
3.7. If we have learned from a reliable source that your Account Details could have been obtained unauthorized by a third party, we may, at our discretion, deactivate your Customer Account without any obligation to you.
3.8. You acknowledge that we are not liable if a third party gains unauthorized access to your information, including email addresses, electronic communications, personal data and account details, when they are transmitted between the parties and any other party via the Internet or other network means. communication, by mail, telephone or other electronic means.
3.9. You undertake to protect and protect us from any harm as a result of any claims, procedures, losses or damages resulting from any use or unauthorized use of the Trading Platform, as well as unauthorized access to it, using your Account Details.
- Intellectual property.
4.1. You acknowledge that all intellectual property rights in the Trading Platform belong to us or our licensors..
4.2. You won`t:
(a) copy, record, edit, modify or translate the Trading Platform and any of its parts. This includes, but is not limited to, the deletion, editing and any other intervention (including attempts to do this) in any names, signs, logos and brands of the Trading Platform;
(b) carry out reverse engineering, disassembling and other attempts to obtain the source code of the Trading Platform in whole or in part, except as permitted by law;
(c) damage and violate in any way our Intellectual Property Rights, but take all possible measures to protect our Intellectual Property Rights from violation by third parties.
4.3. The Trading Platform, all its copies and derivatives (whoever created them) and the intangible assets associated with it and the Intellectual Property Rights to the Trading Platform are solely owned by us and our licensors. Except for the rights given in paragraph 2.2, you are not transferred any rights and no share in any intangible assets and Intellectual Property Rights to the Trading Platform and any parts thereof.
4.4. Unless expressly stated otherwise in this Agreement, you will not:
(a) reassign, sublicense, transfer, mortgage, rent, distribute or share the Trading Platform and any rights thereto under this Client Agreement;
(b) to separate any parts of the Trading Platform or use any of its components separately in any equipment, machine, device or system;
(c) decompile, disassemble, reverse-compile or reverse-engineer, create derivative works or copies (with the exception of one copy solely for backup and archiving) of the Trading Platform and any parts thereof;
(d) delete or destroy any proprietary marks and signatures placed on or inside the Trading Platform;
(e) create methods for unauthorized access to the Trading Platform of third parties;
(f) try to reconstruct or open in any way any source code, ideas, algorithms, file formats, programs and interfaces underlying the Trading Platform
(g) provide, rent, transfer to share ownership or service bureaus or by any other means allow third parties to benefit from the Trading Platform;
(h) circumvent any technical limitations of the Trading Platform and use any tools to create features and functions that are not available in the Trading Platform;
(i) use similar processes and functions to create competing features and functions in the Trading Platform;
(j) use the Trading Platform or any other Financial Data to commit any fraudulent, illegal or illegal actions, including but not limited to identity fraud;
(k) allow all of the above to any third parties or encourage them to do so.
- Application and Registration Data.
5.1. For use the Trading Platform and our services, you must register by providing personal data, including an identity card, as your Registration Data. By completing and sending the Form application for opening accounts, which is necessary to ensure the confidentiality of the Company’s Client. You understand that we are not obliged (and in some cases, according to Applicable Standards) to accept any person as our Client until all required documentation has been correctly and completely filled by this person and is passed with a satisfactory result of all internal audits of the Company (including but not limited to this, money laundering checks and fitness tests). You also understand that we reserve the right to conduct other legal checks of Clients from certain countries.
5.2. You agree and accept:
(a) notify us of any changes to your personal and financial information and / or financial conditions by email [email protected]
(b) provide correct, accurate, current and complete registration data according to the registration process;
(c) maintain and timely update the Registration Data, maintaining them in accurate, current and complete condition and informing us of any changes to the email address [email protected]
(d) log out of your account at the end of each session;
(e) From time to time we may conduct credit checks and other checks as we see fit. Your Registration Data and other information may be used to prevent money laundering. You give us the right to use your Registration Data and other information to perform the above checks in relation to your application.;
(f) If we become aware of any illegal activities, violations of the Registration Data or your failure to pass a legal check, we may freeze your account. In this case, we may not be able to follow your instructions..
5.3. By entering the Trading Platform with your Account Details, you authorize us to use all data and instructions in all transactions using your Registration Data without further investigation and inquiries and regardless of the real identity of the person transferring the data. We are not responsible for the transmission of inaccurate or not received data, and we can execute any Transaction on the terms we accept.
- Suitability assessment.
6.1. Some of your Registration Data allow us to assess whether the Services or Financial Instruments are suitable for you according to the Rules of the Supervisory Authority.
6.2. We have the right to use the information you provide if nothing says that this information is clearly outdated, inaccurate or incomplete. We are not responsible for the information you provide, and we may evaluate your suitability based on the information you provide.
6.3We will evaluate your knowledge and experience based on the information you provide in order to make a decision about your suitability. If we consider that the Service or Financial instruments are not suitable for your level of experience and (or) knowledge, we will inform you that we cannot open a Trading Account for you.
6.4. If you decide not to provide us with the required information to assess your suitability or if the information about your knowledge and experience is insufficient, we may not be able to assess the degree of suitability for you of the Service and Financial Instruments. In this case, we can refuse to open your trading account.
6.5. If you ask us to complete your registration or any Transaction in spite of the notification received, we reserve the right to refuse to complete your registration or Transaction. This decision will be made by us taking into account all the circumstances.
- Customer classification.
7.1. We will treat you as a Retail customer in terms of rules and applicable rules. However, if you request another category and the Company agrees with this, you agree that the level of protection may be different according to the applicable rules.
7.2. You agree that we have the right to check the Categorization of the Client and change your Categorization if necessary. You agree that when categorizing you and interacting with you, the Company proceeds from the accuracy, completeness and accuracy of the information provided by you on the Account Opening Application Form and the Financial Eligibility Questionnaire. You undertake to notify us immediately and at any time in writing if such information changes.
8.1. If you are accepted as our Client, we will provide the following investments and support services, according to your obligations under this Agreement:
(a) Acceptance and transfer of Client Orders in Financial Instruments.
(b) Execution of Orders in Financial Instruments.
(c) Cash and collateral management, according to paragraphs 19-22 of this Client Agreement.
(d) Foreign currency services, provided that they are related to the provision and receipt of services from paragraph 8.1 (a) and (b) of this Customer Agreement.
8.2. You agree that we will not keep any assets and financial instruments of the Client, as well as provide services for the savings, preservation or management of Financial Instruments in the Client’s account.
- Tips and comments.
9.1. The Company will not advise the Client on the benefits of this or that Order and advise him on investments in any form. The Client acknowledges that the Services do not include investment advice in the areas of Financial Instruments, Core Markets or Base Assets. Only the Client and no one else decides how to manage the Trading Account and place Orders, making decisions based on their own estimates.
9.2. Under no circumstances will the Company give any advice to the Client regarding any Transactions, whether in the area of legislation, taxes or other areas. Before making a Transaction, the Client may use advice from independent sources.
9.3. From time to time, the Company may, in its sole discretion, provide the Client (on the Website, in the newsletter and other ways) information, news, market comments and other information, but it is not part of the Services to the Client. In this case:
(a) The company is not responsible for such information.;
(b) information is provided only to help the Client make his own investment decision and does not constitute investment advice or unsolicited financial advertising;
(c) The Company does not give any guarantees and obligations regarding the accuracy, reliability and completeness of such information, as well as the tax and legal consequences of any Transaction.;
(d) if the document contains a restriction on the persons or categories of persons for whom this document is intended or provided, the Client undertakes not to transfer it to such persons or categories of persons;
(e) The client agrees that before sending the document, the Company could take any action in connection with it based on the information contained therein. The company does not undertake any obligations with respect to the time of receipt of information by the Client and cannot guarantee that he will receive it simultaneously with other clients.
9.4. The parties agree that market commentary, news and other information provided by the Company may be changed or withdrawn at any time without notice.
10.1. The company may receive information about the Client directly from him (through the completed Account Application Form or the Website he uses) or from other persons, such as credit information agencies, fraud prevention agencies, banks, other financial institutions, service providers third-party authentication, public registration providers.
10.2. Information about the Client, which the Company stores, is confidential and will not be used for any other purpose other than the provision, administration and improvement of the Service, prevention of money laundering, legal due diligence, research, statistical and marketing purposes. Information from public sources and information that the Company already has without confidentiality obligations is not considered confidential.
10.3. The company has the right to disclose information about the Client (including records and documents of a confidential nature and bank data) in the following cases:
(a) When required by law or prescribed by the competent Court.
(b) At the request of the supervisory authority with authority over the Company, the Client or their partners, or located in the territory in which the Company’s Clients are located.
(c) Authorized authorities to investigate or prevent fraud, money laundering or other illegal activities.
(d) To the extent that it is necessary to carry out Orders and auxiliary tasks in relation to the Services.
(e) For credit information agencies, fraud prevention agencies, third-party authentication service providers, banks and other financial institutions for the purpose of credit check, fraud prevention and money laundering, identification or legal due diligence of the Client. To this end, they can verify the Client’s data in any database (public or otherwise) to which they have access. They may also use Customer data in the future to help other companies verify the data. A record of such a search will be kept in the Company.
(f) The Company’s professional advisers, provided that in each case the relevant specialist is informed of the confidential nature of such information and undertakes to keep it confidential.
(g) Suppliers of other services that create, maintain or process databases (electronic and others), provide services for storing records, sending e-mail, sending messages and similar services that help the Company collect, store and process Client information, maintain communication with the Client or improve quality Services provided under this Agreement.
(h) The trade repository and other similar organizations within the framework of Regulation No. 648/2012 of the European Parliament and of the Council of July 4, 2012 regarding OTC derivatives, central counterparties (CCP) and trade repositories (TR) (EMIR).
(i) Other service providers for statistical purposes to improve the Company’s marketing. In this case, the data will be provided in the average form.
(j) Call centers for market research, conducting surveys by telephone or e-mail, in order to improve the Company’s services. In this case, only contact information will be provided.
(k) When it is necessary to protect or exercise the Company’s legal rights in any court, tribunal, arbitration, or trial by an ombudsman or government agency.
(l) At the request of the Client or with the permission of the Client.
(m) Partner of the Company or any other company belonging to the same group with the Company.
(n) Successors, representatives, purchasers or buyers upon written notice of the Client ten working days for the purposes described in paragraph 38.2 of this Client Agreement.
(o) The Client agrees that the Company, as a Foreign Financial Institution (FFI), is obliged to disclose personal information in relation to US citizens (and persons with equivalent status) as required by the Foreign Accounts Taxation Act (FATCA). The company has taken all necessary measures to comply with FATCA and may from time to time request additional information from US citizens in order to maintain the necessary records..
10.5. You acknowledge that you may receive our trade secrets and / or confidential and proprietary information. All information belonging to or relating to us, including, but not limited to, information about business plans, customers, supplies, services, Intellectual Property Rights and / or financial information that you receive as a result of entering into Customer Agreements or their performance, and which is classified by us as confidential or explicitly is such in nature, is considered “confidential information”.
10.6. You agree not to use our confidential information for any purposes other than those described in the Client Agreement, not to disclose confidential information received from us to any third parties and to prevent its disclosure or access to any third party without our prior written consent, except as required by law or any law enforcement or supervisory authority .
10.7. You agree to take reasonable steps to protect our confidential information. This obligation is maintained even in the event of termination of this Agreement in relation to those parts of confidential information that have not been transferred to the public domain (unless this happened as a result of a breach on your part).
10.8. You acknowledge that if you violate any paragraph of paragraph 7, we will have the right to judicial protection and other fair measures of reparation, which will not be exclusive, but complementary to all other measures provided for us by law and by law of justice.
- Personal data.
11.1. If you are an individual, the Company will use, store and process your personal information in accordance with the 2001 law “On the processing of personal data (protection of users)”. The company undertakes to provide you, upon request, with a copy of your personal data that it owns, provided that you pay a processing fee.
11.2. By downloading our software, you agree to the transfer of your personal data outside the European Economic Area in accordance with the law “On the processing of personal data (user protection)” of 2001 for the reasons described in paragraph 10.3 of this Customer Agreement.
- Administration and Marketing.
12.1. You agree that the Company may from time to time directly contact the Client by phone, fax, email or regular mail in order to ensure the terms of the Agreement..
12.2. You agree that the Company, any of its Partners or another company of the general group with the Company may from time to time contact you by telephone, fax, email or mail for marketing purposes in order to draw your attention to products and services that may interest you or for market research.
- Phone calls, faxing documents and records.
13.1. Telephone conversations between the Client and the Company can be recorded and stored by the Company, with the records being in the sole ownership of the Company. The Client agrees that such records are conclusive evidence of recorded Orders or conversations.
13.2. Documents received by the company by fax can be scanned. The reproduction of the scanned version of the document is convincing evidence of the fact of its sending.
13.3. Our records are proof of our interaction with you in connection with the Trading Platform. You will not require us to comply with your requirements for the storage of records, however, if there is a request from you, we will, at our sole discretion, provide you with records. You will not object to the use of our records as evidence in any legal and supervisory procedure.
13.4. Under the terms of the applicable standards, the Company will keep records containing personal data and trading information of the Client, documents for opening his account, data on communications with him and any other data relating to the Client for at least five years after termination of the Agreement or Transaction.
- Consent to the electronic transmission of information.
14.1. You agree that information about your Trading Account and trade confirmations are available on the website on the Internet, and not delivered to you by email or regular mail. You can view account information through the Trading Platform using your Account Details. We will publish all the information about the activity on your account. You will be able to generate daily, monthly and annual reports on account activity, as well as a report on each completed transaction. Updated account information will be available no later than 24 hours after any activity on your Trading Account. Publishing account information in your online account is considered equivalent to the delivery of confirmations and account statements. In all cases, account information will include, but is not limited to, confirmation of transactions with purchase numbers and rates, Margin, available trading amounts, statement of income and loss, as well as open and pending confirmation of Positions. You can withdraw your consent at any time by closing a Trading Account in accordance with this Client Agreement.
- General trading rules.
15.1. All Orders placed by you will be transferred for execution to the other party (Liquidity Provider), so we will not execute your Orders as a counterparty in the Transaction against you.
15.2. You acknowledge and agree that each Transaction executed in the Trading Platform, including the placement of the Order, consists, firstly, of your proposal for us to complete the Transaction (whether to open or close the Transaction) at a certain price given in the Trading Platform and secondly, our subsequent agreement with your proposal. The transaction will be considered complete only after we receive and accept your offer. Our acceptance of the offer indicates our confirmation of its conditions and completion.
15.3. We are not obliged, although we may, at our discretion, accept, execute or cancel Transactions, in whole or in part, and also offer quotes for them, when you request Transactions through the Trading Platform, without giving any explanation. You can request to cancel or change the Transaction at any time before its completion by us.
15.4. We reserve the right to cancel any Transaction from the very beginning if it contains any obvious error or is based on it. We are not liable to you for any damages, expenses and claims incurred by you as a result of any obvious error, except in cases of fraud or intentional violation of obligations on our part.
15.5. You acknowledge that all prices and Quotes indicated on the Trading Platform are for information only with respect to the actual trading prices at the Normal Market Volume and are constantly changing. The company provides Quotes based on the price of the underlying asset, but this does not mean that these Quotes have any specific percentage of the price of the underlying asset. When the relevant underlying market is closed, the Quotes provided by the Company will reflect what the Company considers the current Buyer’s Price and the Seller’s Price on the corresponding Underlying Asset at the moment.
15.6. You agree to adhere to all restrictions of which we will notify you from time to time in relation to your activity on the Trading Platform, including, but not limited to, the size of Transactions and other conditions applicable to your quote. You acknowledge that we may offer different terms and conditions regarding the use of the Trading Platform to different users and demand their execution.
15.7. You acknowledge that the Trading Platform is independent of any underlying markets and we are not obliged to offer a specific price or follow the rules of trading adopted in such underlying markets. You also acknowledge that the triggering of your Transaction is related to the prices quoted for the Trading Platform, and not to the relevant underlying markets. In order to determine whether the prices offered in the Trading Platform are equal to or higher than the price that was accepted by us in the Transaction, we have the right (but not the obligation) in our absolute absolute discretion to reject any prices offered by us before, during and after the auction sessions in the relevant underlying markets, during any intraday or other period of delay in the relevant underlying markets, or during any period that we believe on reasonable grounds, may lead to short-term m course jumps and other deviations. Our prices are subject to change in relation to the current in the relevant underlying markets, and you acknowledge that the Transaction can be carried out even though:
(a) The underlying market has never traded at the level of your Transaction.;
(b) The underlying market traded at the level of your Transaction, but such a short period of time that the execution of an equivalent transaction in the Basic markets is impractical.
15.8. When you complete a Transaction on the Trading Platform, you agree that you do not deal with the exchange.
15.9. You acknowledge that any prices quoted on the Trading Platform are set by us taking into account a number of factors, such as current market conditions and trading demand on the Trading Platform. You agree not to use the prices listed on the Trading Platform for any purpose other than your own trade, and not to transfer our prices to others for commercial or any other purposes..
15.10. You acknowledge that each Transaction is carried out for a specific number of units of the Underlying Asset. The volume of each Transaction on the Trading Platform must not be less than the minimum value specified on the Trading Platform as “Unit Value”, must be a multiple of this value, but not more than the maximum value allowed on the Trading Platform.
15.11. Each Transaction opened and completed by you is obligatory for execution, even if upon opening a Transaction you have exhausted all credits and limits available to you in working with us.
15.12. According to paragraph 15.15, you can request a quote to open or close a Transaction on a specific Underlying Asset at any time during the Exchange session for this Underlying Asset. We are not obliged, but in our absolute discretion, we can provide a quote and accept for execution your offer to open or close a Transaction on the Underlying asset outside the Exchange session of this Underlying Asset. In some cases, Transactions may be traded only while the underlying market is open, in which the underlying asset is traded. The exchange session is displayed in the Trading Platform under the details link for each Underlying Asset. You must make sure you understand which underlying asset may be affected.
15.13. Without detracting from our other rights under this Agreement, if before accepting your offer to open or close a Transaction, we learn that some of the factors mentioned in paragraph 15.14 are not met, we reserve the right to completely reject your offer. If, however, we have already opened or closed the Transaction before receiving information about non-compliance with any of paragraph 15.14 factor, we may, at our sole discretion, treat such Transaction as originally canceled, or close it at the prevailing price at that time. However, we may, in our sole discretion, allow you to open or close a Transaction, which will result in your obligations under this Transaction, even though the factors in paragraph 15.14 are not complied with.
15.14. The factors mentioned in paragraph 15.13 include the following:
(a) the quotation must be obtained through the Trading Platform or in another way that we may inform you from time to time;
(b) at the time of your offer to open or close a transaction the quotation must be valid;
(c) the quotation must not contain a clear error;
(d) when you offer to make a Transaction, the number of units in respect of which the Transaction is opened must not be less than the minimum unit value specified in the Trading Platform for this Instrument, according to the criteria applied from time to time, and not more than the allowable value under the terms of this Agreement;
(e) when you propose to close a part of an open Transaction, but not its entirety, then that part of the Transaction that you propose to close, and that part that will remain open if we accept your offer, must be no less than the minimum unit value specified in the Trading Platform;
(f) when your offer to open or close a transaction should not be a force majeure;
(g) there should not be a default on you;
(h) when you offer to open any Transaction, opening a Transaction should not result in you exceeding the value of the initial margin, support margin, credit, or other restriction imposed on your operations;
(i) according to paragraph 15.12, your offer must be delivered to us during the Exchange session of the relevant Underlying Asset, in relation to which you offer to open or close the Transaction;
(j) no internet connection or connection problems;
(k) no oversight requests or court orders received;
(l) no doubt about the legality or authenticity of the Order;
(m) normal market conditions exist;
(n) any other reasonable factor that we may notify you from time to time at our sole discretion.
15.15. If, before we accept your offer to open or close a Transaction, our quotes are shifted in a favorable direction (for example, the price goes down when you buy, or up, when you sell), you agree that we can ( but not required) to transfer this price advantage to you. As a result of such an operation, the level at which you offer to open or close a Transaction and at which we accept the offer will be shifted to a more favorable price. You acknowledge that it is in your best interest that we change the level of your proposal as described in this paragraph, and agree that any proposal that is modified in accordance with this paragraph, if we accept, results in obligations between us. Without prejudice to the foregoing, you acknowledge that we independently decide exactly when we will transfer the price advantage to you. You should also remember that the transfer of price advantage is carried out only within acceptable limits.
15.16. The use of any robots, spiders and other systems of automatic data entry when working on the Trading Platform is strictly prohibited. All Transactions must be completed by you manually. Any Transaction completed through such automatic data entry systems will be null and void. In case of violation of the conditions of this paragraph 15.16, we may immediately close all your accounts of any kind, opened with us, terminate the Customer Agreements without notice and deny you in all subsequent Transactions. In addition, all funds in your Trading Account will be frozen, and we will be entitled to debit any amount from your Trading Account to cover any losses and expenses incurred by you as a result of a violation of the conditions of this paragraph. All remaining funds of your Trading Account will be returned to you in accordance with this Client Agreement.
15.17. The Company is not obliged to monitor the status of any Customer Transactions, give advice on them or close any Open Positions of the Customer, unless the Agreement explicitly requires otherwise. If the Company decides to do this, it will be done on an independent basis and will not trigger subsequent obligations. Customer’s responsibility is to maintain his own awareness of his position at any time.
15.18. Payments – dividends. Your Trading Account can be changed to the amount of the calculated dividend or write-off related to one of the Basic Assets. If you hold a Long position, we will replenish your Trading Account with a dividend multiplied by a long amount. If you hold a short position, we will debit your Trading Account with the amount of dividend multiplied by a short amount.
15.19. Our policy is to close any open position of the client in the market in accordance with your instructions indicated in the Order.
15.20. Insolvency. If the cryptocurrency that is the object of a transaction loses its solvency, all your open transactions of the underlying asset are closed. Closing date will be the date of loss of solvency.
15.21 Trading Abuses If the Company has reason to suspect the Client of trading abuse, including, but not limited to, pip-hunting, scalping, arbitration, manipulation, or a combination of fast and slow quotes, it may, at its own discretion, at any time and without written notice, undertake one or several next steps:
(a) immediate termination of this Agreement without prior notice to the Client;
(b) cancel any open position;
(c) temporary or permanent prohibition of access to the Trading Platform or disabling any functions of the Trading Platform;
(d) prohibition or rejection of the transfer or execution of any Order of the Client;
(e) Restriction of the Client’s trading activities;
(f) in case of fraud – refund to the current owner or follow the instructions of the law enforcement authorities of the relevant country;
(g) cancellation or refund of profits received through trading abuses or using artificial intelligence on the Client’s account;
(h) filing a lawsuit to recover any damages incurred by the Company.
15.22. The Company will make all reasonable efforts to execute the Order, however, the parties understand and agree that, despite the reasonable efforts of the Company, the transfer and execution may not be possible for reasons beyond the control of the Company.
- Our right to compulsory closure.
16.1. If the prices listed on the Trading Platform change so much that the total difference paid to you in accordance with all open Transactions is equal to or exceeds the total Support Margin for all such Transactions, or the amount on your Trading Account is equal to or less than the total Support Margin for all your open transactions, or we receive a refund from the issuer of your bank card or the operator of another method of payment, regardless of the reason, then you acknowledge that we have the right to do so in our sole discretion long close any of your open Transaction, unprofitable or profitable, and liquidate your Trading Account without prior notice. The result of our right to forcibly close your Transactions will not be to block your account or this Agreement, unless we send you a notice of blocking.
16.2. Notwithstanding the foregoing, if the prices listed in the Trading Platform shift against the price of your Transaction, we can, without any obligation on our part, require you to increase the amount of funds in your Trading Account in a short time to cover the Difference and / or Margin support for open transactions. If you fail to comply with the requirement to increase the amount of funds within the prescribed time we may, at our sole discretion, close any of your open Transaction, profitable or unprofitable, and liquidate your Trading Account to cover the Difference at your expense. You must constantly make sure that the volume of funds placed on the Trading Account meets all the margin conditions of your trading decisions.
16.3. On the Trading Platform, we can specify deadlines and dates for various underlying assets traded on the Trading Platform. If a deadline is given on the Trading Platform for the Underlying Asset, you give us the right to close any open Transaction in relation to such Underlying Asset at the price quoted in the Trading Platform at such time.
16.4. You acknowledge that trading in certain Underlying Assets on the Trading Platform may very quickly and unexpectedly become volatile. By virtue of the high riskiness of trading volatile Basic Assets, you acknowledge and agree that we have the right to close any open Transaction with respect to any Basic Asset, which we consider to be volatile at our own discretion, at the price currently quoted in the Trading Platform..
- Force Majeure.
17.1. We can, at our own reasonable discretion, determine the fact of the presence of force majeure. Force majeure are, without limitation, the following events:
(a) any incident and event (including, but not limited to, military actions, mass riots, acts of civil disobedience, terrorist acts, war, strike, decisions of state and intergovernmental bodies), which, in our view, prevents us from maintaining an orderly state of the market, with whom we work on the Trading Platform;
(b) delaying or closing any underlying market, abolishing or liquidating any underlying asset on which our quote is based or related, or the occurrence of restrictions or unusual trading conditions in any such market or any such event;
(c) excessive movement of the level of any transaction and (or) of the underlying market (within reasonable limits) or our expectation of such movement;
(d) any violation in data transmission, communications and computer systems, interruption of power supply, failure of electronic and communication equipment;
(e) non-fulfillment of their obligations by any supplier, financial institution, broker, agent or head of the Company, depository, sub-depositary, dealer, underlying market, clearing house for any reason.
17.2. If we decide that a force majeure event has occurred, we may, at our own discretion, at any time and without notice, take the following steps:
(a) change your Margin terms, as a result you will need to provide additional Margin;
(b) close any of your open Transaction at the closing price that we consider reasonable on reasonable grounds;
(c) freeze or modify the Agreement in part or in whole so that as a result of the occurrence of force majeure losses for all parties were minimal;
(d) change the time of the Exchange session for a specific Transaction.
17.3. You agree that in the event of a Force Majeure we do not bear before you and other persons any responsibility for our actions under paragraph 17.2 if we decide to do them. The parties will be exempted from all liability for partial or complete failure to fulfill obligations under this Agreement, as well as for improper fulfillment thereof, if this was the result of a Force Majeure occurring after the conclusion of the Customer Agreement.
- Margin Terms and Margin Requirements.
18.1. To open a Transaction on the underlying asset, you agree to provide the Initial Margin in your Trading Account. To maintain the Transaction open, you undertake to ensure that the balance of funds in your Trading Account exceeds the support Margin. You acknowledge that for each Underlying Asset, Margin is different and may change from time to time at our sole discretion. Replenishment of the Trading Account can be carried out by bank transfer or in another way to a bank account or other location according to our notifications, which we may send from time to time. Based on the amount of funds in your Trading Account, we reserve the right to limit the amount and total number of open Transactions that you can open or maintain in the Trading Account. You understand that on different types of Trading Accounts offered by us from time to time, there may be different Margin terms.
18.2. You guarantee that you understand the principle of calculating Margin conditions.
18.3. With the exception of Force Majeure, the Company has the right to change the Margin conditions by sending to the Client Advance notice within five (5) Business days. New Margin conditions will be applied to new positions. In case of force majeure, the Company has the right to change the Margin conditions without notifying the Client. In this case, the Company has the right to apply new Margin conditions to new or already open positions. All changes will take effect on the Platform and / or the Website, and the Client is obliged to check for updates. He must constantly monitor the amount of funds in his Trading Account to meet the requirements of the Margin under this Agreement and, if necessary, additional margin requirements.
18.4. You know and acknowledge that we may, in our sole discretion, require you to take certain actions in your Trading Account related to Margin Requirements. Margin requirement may be based on a number of factors, including, but not limited to, your general position, your account size, the number of open Transactions, the volume of transactions, transaction history and market conditions.
18.5. The Company is not obliged to present Margin requirements to the Client, however, if it does so or if the Trading Platform notifies the Client about reaching a certain percentage of the Margin on the Trading Account, the Client should take any of the following three actions to resolve the situation:
(a) limit (close) your bidding;
(b) insure your positions (open opposite positions in relation to the currently open ones) and overestimate the situation;
(c) enter more funds into the Trading Account.
18.6. If the Margin Terms are not fulfilled at any time or the Margin Payment cannot be made by the due date, your open positions may be forcibly closed without prior notice..
18.7. Margin must be paid in cash in the Currency of the Client Account.
18.8. The Client undertakes not to create or have any security debt in excess of the Margin transferred to the Company, and not to accept the transfer of such debt..
18.9. If you have created more than one Trading Account with us, each Trading Account is processed completely independently. Thus, no credit on the Trading Account (including funds allocated for the margin) is exempt from obligations on any other Trading Account. You must ensure that there is a necessary level of margin on each Trading Account..
- Payments and debits on the Trading Account.
19.1. Upon completion of the Transaction, in accordance with the provisions of this Agreement on applicable equity adjustments, the following requirements apply:
(a) You must pay the Difference if the Transaction is:
(i) sales, and the closing price of the Transaction is higher than the opening price;
(ii) purchase, and the closing price of the Transaction is lower than the opening price.
(b) you will be paid the Difference if the Transaction is:
(i) sales, and the closing price of the Transaction is lower than the opening price;
(ii) purchase, and the closing price of the Transaction is higher than the opening price.
19.2. Unless otherwise specified, all amounts that you must pay according to the conditions of paragraph 19.1 are paid immediately at the closing price of your Transaction, as determined by us, and the Transaction to be closed..
19.3. You hereby authorize us to automatically debit from your Trading Account the amounts that you are required to pay under the terms of paragraph 19.1 after the closure of the Transaction, as well as any other amounts that you owe us under this Agreement, without notice. Any hindrance or delay in the exercise of our rights under this clause is not a refusal on our part to exercise them.
19.4. After deducting the amounts that you owe us under this Agreement and the Support Margin required on your Trading Account in accordance with this Agreement in terms of open Transactions, all the money that is credited to your Trading Account will be returned to you upon request. In the absence of such a request, we will return this money to you in accordance with paragraph 20 of this Client Agreement.
19.5. You must pay all taxes and duties in respect of all Transactions completed by you in the Trading Platform. Only you must calculate and pay taxes applicable to you in your country of residence arising from your trading activities on the Trading Platform.
19.6. Notwithstanding the foregoing, the Company will withhold these amounts at the source from any payments to you if required by law or tax authorities.
19.7. In relation to transactions conducted on the Trading Platform, there may be other expenses, including taxes, which you must incur not through us or by virtue of obligations to us. By not minimizing your sole responsibility to pay any taxes, you agree that we can withhold such tax from your operations on the Trading Platform, if required by the relevant law. You acknowledge that we have the right to debit any tax charges from your Trading Account, and give us the right to debit relevant amounts from your Trading Account to pay taxes. You will not make any claims to us in connection with such charges. You agree that such write-offs do not cancel our right to present to you the Margin Requirements under this Agreement.
19.8. You agree to cover all postal charges in relation to this Agreement and any documentation that may be required for the execution of Transactions.
19.9. In accordance with the terms of this Agreement, the Difference is the only payment you pay for using the Trading Platform. However, we reserve the right to charge additional fees and charges in the future, having notified you in advance about this. From time to time the Company may change the size of the commissions. In case of any changes, the Company in advance, prior to their entry into force, will send a written notification to the Client with information about them. The date of entry into force of the amendment will be the date indicated by the Company in the notification to the Client.
19.10. If your country of residence enters into force regulations or laws that restrict currency circulation or require you to report receipt and transfer of this currency to the supervisory authority or to any government agency, you agree that you will comply with all reporting requirements and obtain all required permits and endorsements resulting from your use of the Trading Platform and related transactions.
19.11. If it is necessary to pay or receive any payment for the presentation of the Client by us, we will notify you of this in accordance with the applicable standards.
- Deposit and withdrawal of funds.
20.1. The trading account is activated after the Client places the Initial Margin according to the type of the Client Account. The company sets its size from time to time at its sole discretion.
20.2. The Client may place funds on the Trading Account at any time during the term of this Agreement. Funds are placed by wire transfer or in any other way acceptable to the Company. The Company does not accept third-party and anonymous payments in the Customer Account. Unless otherwise specified, Margin replenishment and any other types of replenishment should be in the currency of the Trading Account according to your country of origin indicated in your address and in the Trading Platform. We will not transfer your credit balance or funds deposited by you on your Trading Account from one currency to another, and you agree not to make such requests. Detailed information on deposit methods is available on the Website.
20.3. The Company has the right at any time to demand from the Client any documentation confirming the source of funds deposited into the Client Account. The company has the right to reject the Client’s replenishment if it is not fully satisfied with the legal origin of the funds.
20.4. If the Client deposits the funds, the Company will deposit the appropriate amount, which she actually received, into the appropriate Trading Account within one Business Day after clearing the Company’s bank account.
20.5. If the funds sent by the Client were not deposited into the Trading Account for which they are intended, the Client must notify the Company and require it to make a bank investigation of the payment. The client agrees that any costs of such an investigation may be debited from his Trading Account or directly paid to the bank conducting the investigation. The client understands and agrees that in order to carry out an investigation, the Client must provide the Company with the required documents and certificates.
20.6. The withdrawal of the Client’s funds is made by the Company after receiving the relevant request from the Client, taking into account the method adopted by the Company.
20.7. After the Company receives instructions from the Client about withdrawing funds from the Client Account, the Company will pay the appropriate amount within five (5) Business days subject to the following conditions:
(a) The withdrawal instruction includes all the necessary information in the Personal Area.;
(b) the instruction prescribes a transfer to the original account (whether it is a bank account, an account of the payment system, etc.) from which the funds were initially transferred to the Trading Account, or, at the request of the Client, to a bank account owned by the Client;
(c) the target account for the transfer belongs to the Client;
(d) at the time of payment, the Client’s Balance exceeds the amount specified in the withdrawal instructions, including all fees for payment;
(e) in the implementation of the withdrawal of the Company does not interfere with any force majeure;
(f) The client must be fully verified according to the Verification instructions provided on the Website.
20.8. The parties understand and agree that the withdrawal is made only for the Client. The company will not withdraw funds to any third party or to an anonymous account.
20.9. We withdraw your funds in the manner we deem appropriate at our sole discretion. The Company reserves the right to refuse the Client to withdraw by a certain method, and the Company has the right to offer an alternative method.
20.10. All payments and fees for the transfer of third parties are paid by the Client, and the Company deducts these amounts from the corresponding Trading Account.
20.11. Withdrawal fees may vary from time to time depending on the type of Client’s Trading Account. Relevant commissions are published on the Company’s Website.
20.12. Company errors in withdrawing funds are compensated to the Client. The parties understand that if the Client himself gave incorrect instructions for withdrawal, the Company may not be able to correct the error and the Client may incur a loss.
20.13. We reserve the right to demand a refund from you if we receive a refund from the issuer of any bank card or the operator of any method of payment for any reason. We can recover such compensation by debiting funds from your Trading Account, from future payments belonging to you, from your bank card and by any other legal means. Any bank charges in connection with this will also be withheld from your Trading Account.
20.14. The Company reserves the right to refuse to withdraw funds if the client has not verified his account, and has not supported the documents in his personal account confirming his identity, namely:
-first and second page of passport;
-if the replenishment was made from a card-scan copy or photo of the front side of the card where you can see the first six and last four digits of the card number.
20.15 The Company reserves the right to refuse to withdraw funds if the client has not fulfilled the conditions of the Bonus Policy.
- Rules of processing money of the Client.
21.1. The received money of the Client is immediately credited by the Company to one or several separate accounts in reliable financial institutions (such as an intermediate broker, bank, market, clearing agent, clearing house, or counterparty for OTC transactions). Clients’ funds are kept separately from the Company’s own money and can be used in its business.
21.2. The company can keep the money of the Client and other clients in one account (omnibus account).
21.3. The Company will not be accountable to the Client for income or interest received from the Client’s money (except for income received in trading Transactions from his Trading Account [accounts] under this Agreement), and the client waives all rights to such interest.
21.4. The company can place the Client’s money on one-day deposits with the right to retain all interest.
21.5. A company can place Client’s money with a third party (financial institution, market, clearing agent, clearing house or counterparty for over-the-counter transactions) that can secure, lien, or write off against this money.
21.6. The Client’s money may be stored on behalf of the Client in the account of the intermediate broker, bank, market, settlement agent, clearing house or counterparty for over-the-counter transactions located outside the European Economic Area.
21.7. The third party, to which the Client transfers money, may keep them in an omnibus account, in which it may be impossible to separate them from the Client’s money or this third party’s money. In the event of insolvency or other similar situation with respect to this third party, the Company can only file an unsecured claim on behalf of the Client to it, and the Client will risk that the amount of funds received by the Company from a third party will not be sufficient to satisfy the Client’s claims against account. The company will not be liable for any damages resulting from this.
- Mortgage right.
22.1. The Company has the right to seize all funds that the Company, its Partners and representatives hold on behalf of the Client, to meet its obligations.
- Inactive and dormant accounts of Clients.
23.1. If the Trading Account is inactive for thirty days or more, the Company has the right to charge a service fee of 2% of the invoice amount per day.
23.2. In the case of an inactive or dormant account, the Company has the right to cancel all unused (“active”) bonuses.
- Entry into force of the Agreement.
24.1. The Agreement enters into force upon receipt by the Client of a notification sent by the Company, in which the Client is informed that he has been accepted as a Client of the Company or a Trading Account has been opened for him.
- Addition of the Agreement.
25.1. The Company can upgrade the Client Account, change the type of the Trading Account, upgrade or replace the Platform, or improve the services provided to the Client if there are reasonable grounds to believe that this will serve the interests of the Client and will not increase its expenses.
25.2. The Company may also change any of the terms of the Agreement for any of the following reasons:
(a) if the Company reasonably believes that:
- the change will make the terms of the Agreement more understandable.;
- change will not be unprofitable for the Client;
(b) with the aim of:
- implementation of any service or opportunity provided by the Company to the Client;
- creating new services or opportunities;
- replace existing services or features with new ones;
- liquidation of services or opportunities that have become outdated, are not widely used, have not been used by the Client even during the previous year, or have become too expensive for the Company;
(c) to make reasonable changes to the services provided to the Client as a result of changes in:
- banking, investment or financial systems;
- Systems or Platform used by the Company to conduct its business or provide the Services;
(d) at the request of the authority as a result of a change (including the expected one) in the Applicable Regulations;
(e) if the Company deems that any of the terms of the Agreement is incompatible with the applicable rules. In this case, it will not be guided by this condition, but will consider that it does reflect the applicable Applicable Standard, after which it will modify the Agreement in such a way as to more fully reflect the Applicable Regulations.
25.3. As long as the Client can terminate the Agreement without loss for itself, the Company has the right to change any of its provisions if there are any of the serious reasons listed in the paragraph 25.2.
25.4. In case of any change described in paragraphs 25.2 and 25.3, the Company will notify the Client about this at least 5 Business days if the Customer is an individual, and three Business days if legal. However, the Client acknowledges that a change to reflect applicable rules may take effect immediately.
25.5. For any change described in clauses (a), (d) and (e) of paragraph 25.2, the Company will send a Written Notice in combination with information on the Company’s Website. In case of any other changes to the Client Agreement, if the Company decides to provide a Written Notice on the Website, it will also do so in some other way.
25.6. If the Company sends a Written Notice of Changes in accordance with paragraphs 25.2 and 25.3, it informs the Client of the date of its entry into force. It is considered that the Client accepted the change on this date. Otherwise, the Client must inform the Company that he wants to terminate the Agreement and not accept the change. As a result of the termination of the Agreement in this case, the Client is not obliged to pay any fees, not counting current expenses and payment for the Services provided prior to termination.
25.7. The Company has the right to revise its payments, fees, commissions, fees, financial receipts, swaps, trading conditions, execution rules, rollover policy and trading schedule located on the Website and / or the Company’s Platform. Such changes are reflected on the Website and / or the Platform, and the Client is obliged to regularly check for updates. In the absence of Force Majeure circumstances, the Company will notify the Client through its Website at least 5 Business days, if the Customer is an individual, and three Business days, if legal. It is considered that the Client accepted the change on this date. Otherwise, the Client must inform the Company that he wants to terminate the Agreement and not accept the change. As a result of the termination of the Agreement in this case, the Client is not obliged to pay any fees, not counting current expenses and payment for the Services provided prior to termination.
25.8. The Company has the right to revise the Categorization of the Client in accordance with the applicable rules, informing the Client about this no earlier than five (5) Business days before the changes take effect. Changing the Customer’s Categorization also means changing the type of the Customer’s Trading Account. It is considered that the Client accepted the change on this date. Otherwise, the Client must inform the Company that he wants to terminate the Agreement and not accept the amendment.
- Termination and termination results.
26.1. Without detracting from the Company’s rights under this Agreement, to immediately terminate it without prior notification of the Client, the Company may terminate this Agreement by notifying the Client in writing not later than seven working days in advance. The client has the right to terminate this Agreement by sending a written notice to the Company at least seven working days in advance.
26.2. Termination at the initiative of any of the Parties does not cancel any obligations that the Parties already had at the time of termination, any rights or obligations arising under this Agreement, as well as any Transactions made previously.
26.3. Upon termination of this Agreement, all funds that the Customer is obliged to pay to the Company must be paid immediately, including (but not limited to) all unpaid debts, fees, expenses and other amounts imputed by the Company as a result of termination of the Agreement.
26.4. After sending notice of termination of this Agreement and to the date of termination:
(a) The client is obliged to close all his open positions. Otherwise, after termination of the Agreement, the Company will close all Open Positions at current prices.;
(b) The Company has the right to refuse the Client access to the Platform or limit the opportunities available to the Client on the Platform;
(c) The company has the right to refuse to accept new Orders from the Client;
(d) The Company has the right to refuse the Client to withdraw funds from the Trading Account and withhold funds from the Client’s funds to close open positions and (or) to pay the Client’s obligations under this Agreement..
26.5. Following termination, the following may apply.:
(a) The Company has the right to combine any Client’s Client Accounts to consolidate the Balances on such Client Accounts and to write them off.;
(b) The Company has the right to close the Trading Account (Trading Accounts);
(c) The Company has the right to convert any currency or cryptocurrency on the Trading Accounts;
(d) The company has the right to close all open positions of the Client.;
(e) В отсутствие нелегальной активности, в том числе подозреваемой, мошенничества со стороны Клиента, а также инструкций от соответствующих органов власти, если Баланс Клиента is positive, then the Company (after writing off funds that the Company, in its sole discretion, considers necessary to hold against future liabilities) will pay the Balance to the Client as soon as feasible, provide him with a statement of the Balance and, when applicable, instruct any Representative and ( or) the manager also pay the appropriate amount. These funds will be transferred in accordance with the Client’s Instructions for the Company. The parties understand that the Company will make payment only to the account owned by the Client. The company has the right, at its sole discretion, to refuse payments to third parties. In case the Client fails to provide instructions or becomes unavailable at his last known address, the Company will transfer such funds (at its sole discretion) directly to his bank account according to the notification or by mail to the address in the Registration Data. The Client is obliged to keep his Registration Data up to date, otherwise the Company shall not be liable for the loss of Client’s money.
- Failure to fulfill obligations.
27.1. Each of the following events is classified as a default.:
(a) Client’s failure to fulfill any obligations towards the Company.
(b) Submission of a bankruptcy application or its equivalent (if the Customer is an individual), the Customer’s organization of a compromise agreement or settlement with creditors and any other similar procedure in relation to the Customer.
(c) Client’s inability to pay his debts at maturity.
(d) The statements and obligations of the Client according to paragraph 28 were either false.
(e) The client (if the client is an individual) has died, is reported missing or lost his mind.
(f) Any other circumstance in which the Company has reasonable grounds to believe that it is necessary or desirable to carry out the actions listed in paragraph 27.2 of this Client Agreement.
(g) The competent authority or court must take the measures described in paragraph 27.2.
(h) The client involves the Company in any type of fraud, illegal activity or violation of Applicable Regulations or creates the risk of such involvement.
(i) In the event of a significant breach by the Client of the requirements of the laws of the United Kingdom of Great Britain and Northern Ireland or other countries, the extent of the breach is determined by the Company on a fair basis.
(j) The company suspects the Client to participate in money laundering, financing of terrorism, fraud with bank cards and other illegal activities.
(k) The company has reasonable grounds to suspect the Client in the implementation of the prohibited actions described in paragraphs 2.13–2.15, 4.2 и 4.4.
(l) The company has reasonable grounds to suspect the Client of the trade abuses described in paragraph 15.21.
(m) The company has reason to suspect the Client of opening a Client Account fraudulently.
27.2. In the event of a Default, the Company may, at its sole discretion, at any time and without prior written notice take the following measures:
(a) Immediately terminate this Agreement without notifying the Client.
(b) Cancel all Open Positions.
(c) Temporarily or permanently deny access to the Platform or freeze or prohibit any functions of the Platform.
(d) Refuse to transfer and execute any Order of the Client.
(e) Limit trading activity of the Client.
(f) In case of fraud, return the funds to the current owner or follow the instructions of the law enforcement authorities of the relevant country.
(g) Cancellation or refund of profits obtained through trade abuses or using artificial intelligence on the Client’s account or scalping – exploiting temporary and (or) insignificant discrepancies in the rates and prices offered by the Trading Platform.
(h) Immediate stop of all trades carried out by the Client.
(i) Filing a lawsuit to recover any damages incurred by the Company.
- Statements and Obligations.
28.1. You agree that each of the following statements and commitments becomes effective at each opening or closing of a Transaction in relation to the circumstances at that moment:
(a) The registration data provided to us at the time of loading the Trading Platform and registering with it and at any other time thereafter is complete, correct, accurate and not misleading, and the certificates are reliable.
(b) You are sane, come of age and have legal capacity.
(c) You have all the necessary powers for the execution of the Customer Agreements, the opening of Transactions and the fulfillment of your obligations under this Agreement, as well as you have taken all the necessary measures to acquire the authority for the said execution and further work.
(d) Before placing an offer to open a Transaction on the Trading Platform, you were convinced that you understand how Transactions work. By this, you undertake that you also understand the terms and conditions of the Customer Agreements and all their legal and financial implications.
(e) You have read and understand the Risk Disclosures and Warnings on the Company’s Website.
(f) You have taken all reasonable steps to understand the specifications and characteristics of the Trading Platform and the associated hardware, software, data processing systems, telecommunications systems and networks necessary to access and work on the Trading Platform.
(g) You are a direct party to the contract, not an agent, representative, trustee, or holder acting on behalf of someone. A client can represent another person only with the written permission of the Company and provision of all necessary documents to the Company.
(h) Any person who represents you when opening or closing a Transaction, or concluding Client Agreements on your behalf has all the necessary powers to do so.
(i) You are not an employee of a Basic Market, a corporation in which any Basic Market owns a controlling stake, a member of any Basic Market and (or) a firm registered in any Basic Market, a bank, a trust or an insurance company trading in Financial Instruments on which are covered by this Agreement.
(j) You agree not to make Transactions for the purpose of arbitrage, scalping or use of any internal and (or) insignificant discrepancy in any rate or price on the Trading Platform..
(k) You have received all necessary state and other documents and permits in connection with the Client Agreements and the opening and closing of Transactions, such documents and permits are in force, all their conditions are fulfilled or will be fulfilled.
(l) The execution, transfer and operation of the Agreement and your use of the Trading Platform, including every Transaction that you complete, do not violate any laws, regulations, decrees, orders and rules applicable to you in the jurisdiction of which you are a resident, and you or any of your assets.
(m) With the exception of special cases, you agree not to send funds to your Trading Account from bank accounts other than those specified in the Registration Data. The nature of special cases is determined by us from time to time.
(n) The funds used by the Client for trading have no relation, either directly or indirectly, to any illegal activity, including the financing of terrorism.
(o) You are not an Influential politician and have no relationship (kinship or business) with individuals who have occupied prominent public positions for the past twelve months. Otherwise, if you have not yet reported this on the Account Opening Application Form, you must notify the Company as soon as possible.
(p) From time to time, we may offer you promotions with cash bonuses. Detailed terms and conditions related to such bonuses are found on the “Temporary Promotions” page on the Website. They may change over time. In the case of participation in bonus programs, you undertake to observe all their limitations. Violation of any of the restrictions cancels the effect of all bonuses and related trade advantages.
(q) You acknowledge that you have standard access to the Internet, and agree that the Company provides you with various information through the Website and / or email. Such information may include, but is not limited to, changes in terms and conditions, prices, commissions, this Agreement, Policies, information about the nature and risks of investments.
28.2. Any violation by you of the statements and obligations described in paragraph 27.2 or any other part of the Customer Agreements will invalidate any Transaction, or entitles us to close it at current prices at our sole discretion.
- Exemption from liability.
29.1. You agree to release us, our partners, employees, agents and successors from any liability, damage, damages and expenses, including attorney fees, which we incur as a result of your failure to comply with your obligations under this Client Agreement or any Third Party licenses, your violation of any obligations, declarations and agreements with us under the Client Agreement or Third Party Licenses. Without detracting from the foregoing, you agree to bear full and personal responsibility for the proper processing of all Transactions entered into the Trading Platform with your Account Details, including all taxes, fees and charges due to any government authorities in connection with the Transactions. You undertake to fully release us from any direct and indirect liability, costs and damages that we may incur as a result of your failure to execute or processing Transactions, including with respect to the Financial institutions that execute Transactions on your behalf.
29.2. You also agree to promptly indemnify us for all losses and expenses, including legal fees, which we incur as a result of securing any provisions of the Customer Agreement. We will also not be liable for all claims and losses arising from:
(a) any action or inaction of any person who has access to your Trading Account or Account Details, regardless of the credentials from you;
(b) your delay or error in the execution of reasonable instructions received from us;
(c) inaccurate or incomplete execution of the instructions you received;
(d) any use by you or a third party with access to your Trading Account of any Financial Data to complete a Transaction on the Trading Platform or for any other reason;
provided that we promptly notify you in writing of any such claim and allowed you to defend against it at your own expense. You will not enter into any amicable agreements and accept any such claims without our written agreement.
- Renouncement from commitments.
30.1. We do not guarantee that:
(a) The trading platform will meet your individual requirements, so you must ensure that the capabilities and functions of the trading platform meet your requirements.;
(b) Your hardware, software and communication connections will be compatible with the hardware and software we use to provide the Trading Platform;
(c) use of the Trading Platform will be uninterrupted, protected, without errors and failures, and you acknowledge that the existence of minor errors and failures is not a violation of this Client Agreement;
(d) we can fully prevent the intervention of third parties in the work of the Trading Platform;
(e) errors in the trading platform will be eliminated as soon as possible;
(f) we will detect every mistake in the trading platform.
30.2. You acknowledge that we do not control data transmission over telecommunications networks, including, but not limited to, the Internet, and are not responsible for communication failures, distortions and delays in online trading, which arose through no fault of our own (via the Internet or mobile communication).
30.3. You acknowledge that your trading on the Trading Platform is not made on a recognized Exchange, but is over-the-counter (OTC).
30.4. By following we disclaim all liability for loss or damage resulting from:
(a) failure in your internet connection;
(b) errors on the platform or in any other place, as well as lack of backup copies;
(c) security breaches, in whole or in part, resulting from the operation of third-party software, network services, actions or events beyond our reasonable control;
(d) providing security services that we may voluntarily provide outside the scope of the Client Agreement;
(e) use of the Trading Platform is not strictly in accordance with the Client Agreement and all technical documentation we provide to you or make available to you by any other means, including but not limited to, on the Website;
(f) the inability of the Company to fulfill its obligations under the Agreement as a result of Force Majeure or other reasons arising not through its fault;
(g) receipt by any person of your Account Details before the Client notifies the Company;
(h) unauthorized access of third parties to information, including email addresses, electronic correspondence, personal data and account details at the time of their transfer between the Parties and any other party using the Internet and any other means of communication, mail, telephone or other electronic means;
(i) any risks from risk notices and warnings on the Company’s Website;
(j) any changes in tax rates;
(k) any actions or statements of the Referrer;
(l) the content, correctness, accuracy and completeness of any communications distributed as a result of the use of the Trading Platform;
(m) any actions or omissions (including negligence and fraud) of the Client;
(n) your use of features such as Trailing Stop, Expert Assistant, and Loss Restriction;
(p) currency risk.
30.5. In relation to any Financial Data and other information that we or third-party service providers provide to you in connection with your use of the Trading Platform:
(a) we and other suppliers are not responsible for the inaccuracy or incompleteness of information in any respect;
(b) we and other suppliers are not responsible for any actions that you accept or do not accept based on such data or information;
(c) you will use such data and information solely in accordance with the Customer Agreements and for the purposes described in them;
(d) such data and information belong to us and other suppliers, and you agree not to transfer, distribute, publish, disclose or demonstrate such data and information, in whole or in part, to third parties, except as required by applicable rules;
(e) you will use such data and information in accordance with all applicable laws and regulations.
- Limits of liability.
31.1. In accordance with the paragraphs from 31.2-31.5 of this Customer Agreement, our aggregate liability is with you in relation to any claims arising in connection with this Customer Agreement (including, but not limited to, as a result of breach of contract, negligence, unlawful acts or Act), limited to the cumulative amount of deposits minus withdrawals on your Trading Account.
31.2. In accordance with paragraphs 31.2 and 31.5 of this Customer Agreement, you are responsible to us for:
(a) any loss (direct or indirect) of revenue or profit;
(b) any loss (direct or indirect) of expected savings;
(c) any loss (direct or indirect) of intangible assets or reputational damage;
(d) any loss (direct or indirect) of business opportunities, including in connection with failures in business operations;
(e) any loss (direct or indirect) or data corruption;
(f) indirect, incidental, incidental, punitive or special loss or damage arising from the Customer Agreements, including, but not limited to, due to breach of contract, negligence, unlawful acts or by law, and regardless of whether everyone knew of the parties either had the opportunity to know about the likelihood of such a loss or damage.
31.3. Nothing in the Customer Agreements excludes, restricts or prohibits your liability for death or personal injury due to negligence on your part (or on your representative’s part) or any other incident for which liability cannot be limited by applicable laws..
31.4. Nothing in paragraph 31 excludes, limits, or prohibits your liability for fraud or intentional misrepresentation on your part (or your representative’s).
31.5. In accordance with paragraphs 31.1–31.4 of this Client Agreement, our liability in cases permitted by law for violations of intellectual property rights of third parties is limited by the laws of the United Kingdom of Great Britain and Northern Ireland.
31.6. Client agreements describe the whole range of our obligations and responsibilities regarding the provision of the Trading Platform. There are no express and implied conditions, warranties, statements and other concepts that impose liability on us, other than those explicitly stated in the Customer Agreements. Any condition, warranty, statement or other concept in part of the provision of the Trading Platform, which may be referred to or implied in the Customer Agreements, as well as any additional contract, whether by virtue of law, common law or other rules, is hereby excluded as far as the legislation allows.
- Trade authority.
32.1. You hereby authorize us to execute any instruction given (or looking like this) by you on the Trading Platform..
32.2. We have the right, by virtue of the powers received from you, to act on the basis of any verbal, electronic and written communication and instructions received from you. You agree that:
(a) if you have entered the Trading Platform with the Account Details, we are entitled to act according to your instructions without additional questions about the validity of these instructions, considering them to be equivalent to your written orders;
(b) if you are logged into the Trading Platform, nothing in this paragraph obliges us to verify the validity of each instruction or signature before each transaction;
(c) the entire risk for all instructions, whether authorized, unauthorized, improper, fraudulent or not authorized by you, falls only on you. You exempt us from any damages, expenses, commissions, damages, claims, lawsuits, claims and obligations that we may incur or that may be brought against us in connection with our action, delay in acting or refusal to act in connection with such instructions. or information.
32.3. Without abolishing the foregoing, we are not obliged to act in accordance with the instructions, if there are reasonable reasons to believe that:
(a) instruction manual exceeds authority;
(b) execution of the instruction is a violation of the law, the rules or regulations of the Client Agreements;
(c) if we accepted the offer to execute the Transaction, but later suspected that it satisfies the above points (a) and (b), we can, at our own discretion, close the Transaction at the current price quoted in the Trading Platform, or consider the Transaction invalid.
Nothing in this paragraph obliges us to ascertain the credentials of any person who claims to represent you..
32.4. Any offer to open or close a Transaction (including an Order) must be made by you only through the Trading Platform. Written offers to open or close a Transaction, whether by fax, email or SMS, are not accepted..
32.5. If we receive an offer to open or close a Transaction that does not satisfy paragraph 32.4, we may execute it in our sole discretion, but we will not be liable for any losses, damages and expenses that you may incur in connection with any error, delay, inaction on our part or refusal to comply with such an offer.
- Relationship of the Parties.
33.1. Opening each Transaction with us, you act as a direct party to the contract, and not a representative of anyone. This means that unless otherwise expressly stated in writing, we will treat you as our Client in all respects, and you are personally and directly responsible for fulfilling your obligations for each Transaction you perform. If you act jointly with or on behalf of another person, regardless of whether it is known to us or not, we will not consider him to be your Client and to bear responsibility to him, unless otherwise agreed in writing.
33.2. Relations with you are carried out by us only on an executive basis in accordance with our policy of respecting the interests of the Client..
- Communication and written notices.
34.1. Unless otherwise specified in this Agreement, any notice, request and other type of communication initiated by the Client in relation to the Company under this Agreement shall be sent to the address of the Company indicated below (or to any other address that the Company may from time to time give to the Client for this purpose) by e-mail, fax, mail, airmail or commercial courier service. A message is deemed delivered only when the Company actually receives it using the contact information provided on the first page.
34.2. For communication with the Client, the Company may use any of the following methods: e-mail, internal mail of the Platform, facsimile message, telephone, mail, commercial courier service, air mail or the Company’s Website.
34.3. The Company will contact the Client using the contact details in his Registration Data. Thus, the Client is obliged to immediately notify the Company of any change in their contact details.
34.4. The following communication methods are considered a Written Notice from the Company to the Client: e-mail, internal mail of the Platform, facsimile message, mail, commercial courier service, air mail, the Company’s Website. The following communication methods are considered to be a Written Notice from the Company’s Client: email, fax, mail, commercial courier service, airmail or commercial delivery.
34.5. Any messages sent to the Client (documents, notifications, confirmations, statements, reports, etc.) are considered to be delivered:
(a) when sent by e-mail – within an hour after sending and provided that the message was sent from the point of view of the Company;
(b) when sending by internal mail of the Platform – immediately after sending;
(c) when sent by fax, when received by the recipient on his fax machine and the recipient’s device confirms this fact;
(d) when sending by phone – at the end of a telephone conversation;
(e) when sent by mail – seven calendar days after sending;
(f) when sent by commercial courier service – on the day of signing the receipt;
(g) when sent by airmail – eight working days after sending;
(h) when published on the Company’s Website – one hour after publication.
- Full contract
35.1. The client agreement describes the entirety of the contract and all agreements between the parties with respect to the topics described therein. They cancel any previous agreements and arrangements between you and us on these topics.
35.2. You state and agree that, having entered into this Client Agreement, you will not use any statements, obligations and guarantees (including made by ignorance) of the third parties (both entering and not entering into Client agreements), besides those explicitly spelled out in the Client Agreement.
36.1. If any part of this Agreement is found to be non-binding by any Court or competent authority, illegal or contrary to any rule, rule or law of any Market or supervisory authority, this part will be excluded from this Agreement from the outset and the Agreement will be interpreted and be carried out as if this part never entered into it, while the legality, legitimacy and compulsory execution of the remaining provisions of the Agreement, as well as this part in any other jurisdictions, remain valid and not contested.
37.1. Any failure or delay in the exercise of a right or remedy provided by the Client Agreement is not considered a waiver of such right or remedy, as well as any other rights and remedies. Waiver of the right to rectify any violation of the terms and conditions of the Client Agreement shall not be deemed a waiver of the right to reclaim any other violation and does not affect other terms of the Client Agreement.
37.2. The rights and remedies under this Client Agreement complement each other and (unless otherwise specified in the Client Agreement) are exclusive with respect to any rights and remedies by law or by law.
38.1. You cannot assign or transfer any of your rights or delegate any of your obligations under the Client Agreement to a third party without our written permission, whether by virtue of the law or otherwise, on a permanent or temporary basis.
38.2. You acknowledge and agree that we may assign our rights or obligations under the Customer Agreements or the entire Agreement to the successor of our entire business and assets or a substantial part of them without written permission, but with prior written notice of several business days. The company may sell, transfer or otherwise transfer all of its assets or a part thereof, including your Registration Data, personal information, Protocol information, in connection with the merger, acquisition, reorganization or sale of all assets and shares or a substantial part of them, as well as in our bankruptcy . Client’s money can also be transferred on these grounds.
39.1. In cases when the Client is represented to the Company through a third party, for example, a business recommender or a network partner who carries out marketing of the Company (both are referred to as “Recommender”), the Client acknowledges that the Company is not responsible and is not responsible for the behavior and statements made by the Recommender and is not bound by any separate agreements concluded between the Client and the Recommender.
39.2. The Client acknowledges and confirms that his agreements or relationship with the Recommender may entail additional costs, as the Company may have to pay commissions or payments to the Recommender. In this case, the Client will be informed about them within the applicable standards.
- Complaints and Disputes.
40.1. If the Client wants to file a complaint, he must send a letter to [email protected] Within ten (10) Business days from the date of receipt of the complaint, the Company will send its response. If the complaint requires additional proceedings and the Company cannot resolve it within ten (10) Business days, the Company will send a pending request. His dispatch will mean that the Company will contact the Client later (within eight weeks after receiving the Complaint).
40.2. In the event of a situation not explicitly described in this Agreement, the Parties undertake to undertake efforts to resolve it on the basis of goodwill, fairness and market practice..
40.3. The client has the right to file a complaint by mail in writing at the place of registration of the Company. In this case, the date of receipt of the complaint will be the date indicated in the postal delivery receipt notification..
40.4. Customer’s right to file lawsuits is not waived by the existence or use of any of the above complaints procedures..
- Governing Law and Jurisdiction.
41.1. Interpretation, interpretation, influence and adherence to Customer Agreements are governed by the laws of the United Kingdom of Great Britain and Northern Ireland. When resolving disputes, you and we agree to appeal exclusively to the courts of the United Kingdom of Great Britain and Northern Ireland. You agree that all Transactions on the Trading Platform are governed by the laws of the United Kingdom of Great Britain and Northern Ireland, regardless of the location of the Registered User.
41.2. All transactions on behalf of the Client must comply with applicable standards and other regulations governing the operation of investment companies in the United Kingdom of Great Britain and Northern Ireland, subject to periodic changes and additions. The company has the right to take or not to take any measures that it considers necessary to comply with the applicable rules and market rules. All such measures impose obligations on the Client.
- Multiple account holders.
42.2. If the Client includes two or more persons, the responsibilities and obligations under the Agreement are joint. Any warnings and notices for one person who is part of the Client are considered as such and for all other persons who are part of the Client. Any Order given by one of the persons within the Client is considered as given by all persons within the Client..
42.3. In the event of death or incapacity due to a mental disorder of one of the persons belonging to the Client, all funds of the Company or its Holder will be in the possession of another person (s) and all obligations to the Company will be assigned to this people (person).
- Bonus Policy.
43.1. Bonus – additional funds accrued by the Company to the Client’s personal trading account.
43.2. The decision to grant a bonus to a specific account of the customer, and the amount of bonus funds provided, is determined at the company’s sole and exclusive discretion. The bonus is calculated only with the consent of the client, and the Company strongly recommends that you carefully read the following conditions.
43.3. Definition of a trading bonus: A trading bonus is the amount of the Company’s funds placed in your trading account in order to strengthen the account. For bonus funds you have the opportunity to cryptocurrency. The bonus can be provided either one-time or repeatedly, depending on the individual agreements with the client and the shares held by the Company.
43.4. Profit received on transactions opened with bonus funds is real money of the client, provided that the trading volume is met.
Within the framework of the policy of countering money laundering through exchange trading a minimum trading volume has been established.
The trading volume is the total amount of the value of all open trades (regardless of whether there was profit on these trades).
43.5. Accruing a bonus requires compliance with the required trading volume. Accepting bonuses, the Client agrees to the terms of the implementation of the necessary trade.
43.6. Bonus funds are the company’s own funds and cannot be withdrawn. Profit from transactions. open for bonus funds, is real money of the client and subject to the required volume of trades, to be withdrawn along with the client’s money in his own account.
43.7. After the bonus has been credited to the trading account, it cannot be changed or deleted by the client independently.
43.8. The Company reserves the right to cancel or change the bonus until it is credited to the Trading Account of the Client..
43.9. The company is not responsible for the loss of the bonus by the client in case of incorrect trading.
43.10. For an inactive trading account, within 30 calendar days from the time of the last closing transaction, a client may be charged a fee for servicing a trading account in the amount of 2% of the amount of the account per day.
Appendix 1: TERMS OF TRADE.
- Sphere actions
1.1. This Annex 1 applies to Clients trading cryptocurrency.
- Opening and closing orders / transactions
2.1. To open a Cryptocurrency Transaction on the Trading Platform, you must open a Buy or Sell at the price quoted on the Trading Platform at the time of the Transaction. To close a Transaction, you must offer either a sale (in the case of a Purchase) or a purchase (in the case of a Sale) of the underlying asset of an open Transaction at the price quoted in the Trading Platform at the time of the closing offer.
2.2. The trading platform provides purchase and closing prices for each underlying asset traded on the trading platform. You acknowledge that when opening a Purchase or closing a Sale, this can be done only at the purchase price of the underlying asset listed on the Trading Platform. You also acknowledge that when opening a Sale or closing a Purchase, this can only be done at the purchase price of the underlying asset listed on the Trading Platform.
2.3. On the Trading Platform, you can make an offer to open a Transaction at the best price possible (a “Market Order”) at the time of opening a Transaction, unless you have specified a specific offer price for opening a Transaction (“Restrictive Order”). In relation to the “Market Order”, the price at which the Transaction is completed may not be what was shown when the order was placed. You agree that your offer to open a Market Order can be accepted at a lower or higher price than the one you indicated in the Market Order, within the range that is periodically indicated in the Trading Platform. If you decide to open a Market order, your offer will be accepted at the best price available on the Trading Platform.
2.4. For a Restricted Order, the price at which the Transaction ends may not be what was shown when the order was placed. You agree that your offer for opening a Restricted Order can be accepted at a lower (in case of purchase) or higher (in case of sale) price than what you indicated in your Restricted Order, within the range that periodically indicated in the Trading Platform. If you decide to open a Market order, your offer can be accepted at the price you indicated in your offer. At any time before accepting a Restricted Order, you can cancel it without harming yourself. If you decide to open a Limited Order, your offer will be accepted at the best price available on the Trading Platform.
2.5. Orders can be placed and (if possible) modified during the Exchange session for each type of currency and cryptocurrency according to the data published by the Company on the Website with periodic changes. The client agrees that the Order to open a position, if accepted by the Company outside the Exchange session, may not be executed if the market is not trading at the price that was at the beginning of the Exchange session.
2.6. Unfulfilled Pending orders for default will remain in effect until the next trading session (if applicable). At the close of trading all open positions in the relevant underlying market will be transferred to the next Business Day according to the right of the Company to close an open urgent position.
2.7. Market orders that have not been executed due to insufficient volume to fill them will become invalid and will be canceled..
2.8. The type and validity of the Order shall be indicated by the Client. If the time and validity of the Order are not specified, it is valid indefinitely. However, the Company may delete one or several pending orders if the Trading Account Index is zero.
2.9. Before the execution of the Order can be deleted by the Client.
2.10. Orders for limiting losses and taking profits may vary as long as they are far from a certain level (depending on the symbol of trading).
2.11. The client can change the expiration date of the Pending Orders or delete or change the Pending Order before it is executed. To change the expiration date, the Client must cancel the Order and place a new.
2.12. Cryptocurrency orders are executed as follows:
profit taking orders are executed at specified prices;
loss limitation orders are executed at first market prices;
orders to limit losses in blocked positions are executed at the prices of the first market;
Restricted orders are executed at specified prices.;
Orders for limiting losses on the purchase and sale to open a position are executed at the prices of the first market;
2.13. The Client acknowledges and agrees that due to market volatility and factors not dependent on the Company, the Company cannot guarantee that the Order will be executed at the level specified in the Client’s Order. For example, the Order may be closed at a worse price than the one originally set for it by the Client. In this case, the Company will close the Transaction at the next best price. For example, in the case of a Closing at a loss on a Purchase, the price of the Instrument of such an Order may dramatically exceed the closing price at a loss, even before reaching it in advance. When selling at a loss, the price of the Instrument of such an Order may sharply become lower than the closing price, even without reaching it in advance.
2.14. Speaking about Closing with a profit, if the price of the Underlying Asset moves in a direction favorable for the Client (for example, the price decreases when the Client buys, or rises when sells), the Client agrees that the Company can postpone the improvement in the price of the Client.
2.15. If the Company cannot process the Order due to the price, size or some other reason, the Company will not re-set the quotation for the Client (with a price that it considers acceptable subject to the availability of the price requested by the Client). The order will be rejected, and the Client will need to place another Order..
- Restrictions and Limits.
3.1. We can, at our sole discretion, allow you to specify the closing price for a Transaction using the “Closing at a loss” and “Closing with a profit” orders, according to the terms of the Customer Agreements and other terms and conditions that we occasionally enter.
3.2. After you have placed and accepted the Order by us, you authorize us to close the Transaction at the “Closing at a loss” or “Closing with a profit” price, according to the Order, without additional instructions from you and notifications for you. We can, at our own discretion, close the Transaction when the price we quote on the Trading Platform equals or exceeds the price we have accepted for this Order. You acknowledge that we are not required to close any Transaction if you do not comply with the provisions of the paragraph 15.14.
3.3. We may, in our sole discretion, allow you to request the opening or closing of a Transaction, including under the “Closing at a loss” or “Closing at a profit” Orders, within a certain period of time determined by you. If we accept such a request, we may, at our sole discretion, close the Transaction during this time period. You acknowledge and agree that we are not obliged to close such Transaction outside the agreed period and if any other restrictions regarding the Transaction are not complied with..
3.4. We can, at our sole discretion, accept the offer to place a trailing stop in relation to the “Closing at a loss”. You acknowledge that the original price set in the Closing at a loss may be changed when the market moves in your favor on the Trading Platform. While the slip in the “Closing at a loss” offer continues, you agree that every change in the market by at least one hundredth of a percentage point (on the Trading Platform – “base point”) to your favor is a new proposal from you to raise the level slip “Closing at a loss” by one hundredth of a percentage point. Changes to the Base Office will be rounded to the nearest absolute value of the base currency of your country of origin, according to the Trading Platform.
3.5. You acknowledge and agree that due to market volatility and factors beyond our control, we cannot guarantee that the Order will be executed at the price indicated in it. For example, the Order may be closed at a worse price than that indicated by you in this Order. In this case, we will close the Transaction at the next best price. For example, in the case of a Closing at a loss on a Purchase, the price of the Underlying Asset of such an Order may drop sharply below the Closing price at a loss, even before reaching it in advance. When selling, the price of the underlying asset of such an Order can dramatically exceed the closing price at a loss, even before reaching it.
3.6. Speaking of closing at a loss, if the price of the underlying asset moves in a favorable direction for you (for example, the price decreases when you buy, or rises when you sell), you agree that we can (but are not obliged) to transfer the price improvement to you. For example, when buying, the price of the underlying asset of such an Order may dramatically exceed the closing price at a loss, even before reaching it in advance. When selling, the price of the underlying asset of such an Order may sharply fall below the closing price at a loss, even before reaching it.
3.7. The Client agrees that a Loss Restraint Order does not necessarily limit the loss to the desired value, since due to market conditions it may be impossible to execute such an Order at a given price, and the Company does not bear any responsibility for this.
3.8. The Company may, at its sole discretion, accept the Client’s offer to place the Guaranteed Stop Order at the exact price determined by the Client. Guaranteed Stop Orders are available only for some Underlying Assets, which is indicated on the details tab for this Underlying Asset. If the Company accepts a Guaranteed Stop on a new Order, it guarantees that when the quoted price of an order or offer reaches or exceeds the closing price at a loss specified by the Client, the Company will close the open position of the Client at exactly the same price that the Client specified in the Guaranteed Stop Order. An open position can be closed in accordance with Client Agreements until the price of the Guaranteed Stop Order is reached.
3.9. The Guaranteed Stop Order is subject to the following additional conditions.:
(a) Guaranteed Stop Order can only be requested for a new Order and is available only on the basis of closing at a loss;
(b) The Guaranteed Stop order can be activated or edited only during trading and if there is a corresponding underlying asset on the trading platform;
(c) If the Guaranteed Stop Order is accepted by the Company, it can no longer be deleted, but a price change is acceptable;
(d) The Guaranteed Stop order must be placed at the minimum distance (determined by the company) far from the current price of the underlying asset according to the Company’s quotation;
(e) The company guarantees that when placing the Guaranteed Stop Order, the selling price and the spread are adjusted for the additional payment. The adjusted spread is displayed when placing the Guaranteed Stop Order on the Underlying Asset tab for each Underlying Asset.
3.10. The Client agrees that trading operations using the additional functions of the Client Trading Terminal, such as Sliding Stop and Expert Assistant, are carried out under the full responsibility of the Client, as they depend directly on his trading terminal, and the Company does not bear any responsibility in this regard.
- Premium (or swaps).
4.1. Any open Transaction that you hold at the end of the trading day for the Underlying asset or transfer over the weekend when the corresponding Underlying Market is closed will be automatically transferred to the next business day to prevent the automatic closing and actual delivery of the Transaction. You acknowledge that upon the transfer of such Transactions to the next business day, your account may be credited or debited with a premium in relation to such a Transaction (“Rolling”). The Premium amount is constant and expressed as a percentage relative to the price of a position, it is based on a number of factors: whether the transaction is a purchase or sale, interest rates, differentials of underlying assets, daily price fluctuations and other economic and market factors. Premium for each Underlying Asset is shown on the “details” link for each Underlying Asset of the Trading Platform.
4.2. By deciding to open a Transaction on a specific Underlying Asset, you acknowledge that you know about Premium.
4.3. You hereby authorize us to accrue or debit the Premium in your Trading Account for all open Transactions with accumulated Premium in accordance with the relevant rate every day during the accrual, as indicated on the Trading Platform for each Underlying Asset..
- Validity of Transactions
5.1. We may, in our absolute discretion, set the Date and time of expiry for certain Instruments.
5.2. If we set the Expiration Date for a certain Underlying Asset, it will be reflected in the Trading Platform by the “details” link for each Underlying Asset. You must follow the date and time of the end of the term.
5.3. If you have not closed an open Transaction on a Underlying Asset that has an Expiration Date before this date, the Transaction will be automatically closed on that date. The transaction will close at the price of the last quote on the Trading Platform immediately before the relevant Date and time of expiration.
6.1. All cryptocurrencies available at the Company have spreads that are displayed on the Trading Platform and / or the Website. The company has the right to periodically change the spreads in its sole discretion. Such changes will be reflected on the Trading Platform and (or) the Website, and the Client shall regularly check for updates.
- Client accounts without Swaps (Islamic).
7.1. When trading in cryptocurrencies, the Company may provide Accounts without Swaps (usually for Clients practicing Islam). They are governed by the internal rules of the Company and are further agreed by the parties.
7.2. Clients who want to switch from a regular trading account to a trading account without swaps must first close all their open positions.
7.3. All provisions of this Agreement are applicable to Customer Accounts without Swaps, with the exception of Swaps.
7.4. If the Client owns a Client Account without Swaps, Swaps and Rollovers will not be applied to their trading positions at the end of the working day. All payments applicable to Client Accounts without Swaps are shown on the Trading Platform or the Company’s Website.
7.5. A client with a Client Account without Swaps may not have floating positions for a long time. In such a situation, the Client must close the floating positions and the Swaps will be applied retroactively.
7.6. Hedging positions on the relevant contract in Accounts without Swaps is prohibited. In this situation, the Client must immediately close all hedges and Swaps will be applied retroactively.
7.7. All Open Positions in the Account without Swaps are closed on Friday one hour before the market closes. Client may open them again later.