PART I – OPENING PROVISIONS
1 Parties To This Customer Agreement
1.1 This Customer Agreement is made between Nromax who is the holder of the trade name Nromax (hereinafter “the Company” or “We” or “Us”) and the persons who has completed the Application Form and whose application we have accepted.
2 Effect Of The Agreement
2.1 This Customer Agreement takes effect when you accept it online on our Website and when we confirm to you in writing and/or electronic means that your Account has been opened and we accepted you as our Client.
2.2 By continuing to place orders with us, you agree to continue to be bound by this Customer Agreement, which supersedes all other Agreements and terms of business which may previously have been in place between us.
2.3 We shall not be required and may be unable to accept you as a Client until all Know-Your-Client and Anti-Money-Laundry documentation we require has been received by us and we reserve the right that until we have received all such documentation, properly completed by you, your account will not be enabled for trading.
3 Scope of Services
3.1 From the date on which your Account is activated we will
(a) Receive and transmit orders for you in Financial Instruments,
(b) Provide foreign currency services provided they are associated with the provision of the Investment Service of Section 3.1 (a) herein,
(c) Provide for safekeeping and administration of financial instruments for the account of Clients, including custodianship and related services such as cash/collateral management,
(d) Investment research and financial analysis or other forms of general recommendations relating to transactions in financial instruments.
3.2 You acknowledge that our Services do not include the provision of investment advice. Any investment information as may be announced by the Company to you does not constitute investment advice but merely aims to assist you in investment decision making. It is also understood and accepted that we shall bear absolutely no responsibility, regardless of the circumstances, for any such investment strategy, transaction, investment or information.
3.3 We will not advise you about the merits of a particular Transaction and you alone will make trading and other decisions based on your own judgment for which you may wish to seek independent advice before entering into. In asking us to enter into any Transaction, you represent that you have been solely responsible for making your own independent appraisal and investigation into the risks of the Transaction. You represent that you have sufficient knowledge, market sophistication, professional advice and experience to make your own evaluation of the merits and risks of any Transaction.
3.4 We obtain information about your knowledge and experience in the investment field so that we can assess whether the service or product envisaged is appropriate for you. We shall assume that information about your knowledge and experience is accurate and shall bear no responsibility if such information is inaccurate or changes without informing us and as a result we will not be able to asses the appropriateness and suitability of our services for you. If you fail to provide sufficient information in this regard (or fail to provide any information), we will not be able to assess whether you have the necessary knowledge and experience to understand the risks involved. If you still wish us to proceed on your behalf, we may do so, but we shall not be able to determine whether trading in CFDs is appropriate for you. Consequently, we strongly advise you to provide us with any requested information which we believe to be necessary for the purpose of enabling us to assess the appropriateness of our products for you.
3.5 The Company may offer the Client a free subscription for receiving trading signals in which case the Client’s contact details shall be automatically forwarded to iSignals unless otherwise instructed by the Client. iSignals shall only be forwarded the Client’s telephone number for receiving trading alerts by phone and the plug-in on the trading platform shall be enabled, therefor any signals received cannot constitute personal recommendations. Signals issued by iSignals shall be deemed to be general recommendations or market research only; not taking into account the suitability for each individual Client. By accepting to receive the trading signals, the Client agrees and consents to the terms and conditions of iSignals GmbH as can be found on their website at www.alliancesignals.com. It is understood and accepted that we shall bear absolutely no responsibility regardless of the circumstances for any such trading signals of failings thereof. By continuing to receive the services of iSignals GmbH you continue to agree to their terms and conditions. In case a Client wants to opt-out of this service the Company has to be informed in writing.
3.6 The Company may offer the Client a free subscription for using Autochartist. By accepting to use Autochartist, the Client agrees and consents to the terms and conditions of Autochartist Limited as can be found on their website at www.autochartist.com. It is understood and accepted that we shall bear absolutely no responsibility regardless of the circumstances for any such services offered or failure thereof. By continuing to receive the services of Autochartist you continue to agree to their terms and conditions. In case a Client wants to opt-out of this service the Company has to be informed in writing.
3.7 We may, from time to time in our absolute discretion, withdraw the whole or any part of the Services on a temporary or permanent basis.
4 Client Consents
4.1 You agree and understand that you will not be entitled to delivery of, or be required to deliver, the Underlying of the Financial Instrument, nor ownership thereof or any other interest therein.
4.2 You agree and understand that no interest shall be due on the money we hold in your Account.
4.3 You agree and understand that we will affect any Transactions with you as an agent. Thus we will be transmitting your Orders for execution to another broker(s), and such broker(s) may be transmitting the orders received by us to other liquidity providers. These broker(s) are not necessarily operating in a regulated market. We are receiving set prices for the financial instruments you can trade on our platform and have no means of amending or requoting them.
4.4 You agree and understand that CFDs trading is not done in a regulated market.
4.5 You solemnly declare that you have carefully read and fully understood the entire text of the Customer Agreement herein with which you fully and unreservedly agree.
4.6 You solemnly declare that you have read, understood found satisfactory and accept as an integral part of this Customer Agreement the following information provided on our Website:
a) Risk Warnings and Risk Disclosures, and
b) Trading Conditions
4.7 You specifically consent to the provision of the information of Section 4.6 by means of our Website.
4.8 You confirm that you have regular access to the internet and consent to us providing you with information, including, without limitation, information about amendments to our Customer Agreement, costs, fees, policies and information about the nature and risks of investments by posting such information on our Website.
4.9 You acknowledge that a variation which is made to reflect a change of law may, if necessary, take effect immediately without prior notice. We may vary this Customer Agreement at any time and it remains solely your responsibility to stay informed about any changes. The latest version of our Customer Agreement is available for access on our Website.
4.10 Your trading account must be established for trading purposes only. The Company is not a bank, nor does it keep deposits as a bank. We keep deposits only to maintain margins supporting the trading account and trading activities.
5 Risk Warning
5.1 You unreservedly acknowledge and accept that:
a) You run a great risk of incurring losses and damages as a result of trading in CFDs and/or Financial Instruments and accept and declare that you are willing to undertake this risk. The damages may include loss of all your money and also any additional commissions and other expenses,
b) CFDs and/or Financial Instruments carry a high degree of risk. The gearing or leverage obtainable in CFDs and/or Financial Instruments trading means that a small deposit or down payment can lead to large losses as well as gains. It also means that a relatively small movement can lead to a proportionately larger movement in the value of your investment and this can work against you as well as for you. CFDs and/or Financial Instruments Transactions have a contingent liability and you should be aware of the implications of this in particular the margining requirements,
c) When trading in CFDs and/or Financial Instruments you are trading on the outcome of the price of an Underlying and that trading does not occur on a regulated market but over-the-counter (OTC),
d) Before deciding to trade on margin you should carefully consider your investment objectives, level of experience, and risk appetite,
e) You have chosen the particular type of service and financial instrument, taking your total financial circumstances into consideration which you consider reasonable under such circumstances, and
f) There are risks associated with use of online deal execution and trading systems including, but not limited to, software and hardware failure and internet disconnection. The Company is not responsible for such losses or failures.
5.2 The Company shall not be responsible for any loss arising from any investment based on any recommendation, forecast or other information provided. Any opinions, news, research, analyses, prices, or other information contained on this Website are provided as general market commentary, and do not constitute investment advice. The Company will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
5.3 The contents of any report provided should not be construed as an express or implied promise, as a guarantee or implication that Clients will profit from the strategies herein, or as a guarantee that losses in connection therewith can, or will be limited.
5.4 Trades in accordance with the recommendations in an analysis, especially leveraged investments can be very speculative and may result in profits, as well as losses, especially if the conditions mentioned in the analysis do not occur as anticipated.
5.5 In case of any fault in pricing process, typing errors, entering errors and quoting errors through the electronic trading system and/or phone, the Company has full right to make any necessary modifications to the investor’s trading account in which the mistake took place.
5.6 If you do not understand the risks involved in trading foreign exchange or leveraged Financial Instruments, please do not trade.
6.1 You agree that we shall not be liable for any consequential, indirect, incidental or special loss (including loss of profits and trading losses) that result from your use of the Services even if you have advised us of the possibility of such loss. Consequential loss includes pure economic loss, loss of profit, loss of business and likely loss whether direct or indirect.
6.2 Otherwise than through our negligence or wilful default, we will not be liable for any losses, damages or claims that result directly or indirectly from any person obtaining any access data that we have issued to you prior to you reporting to us the misuse of your access data.
6.3 We will not be liable to you for any losses, damages or claims which result directly or indirectly from any research which you rely on in making an Order whether published by us or not.
6.4 We will not be liable to you for any losses, damages or claims, which result directly or indirectly from a delay transmitting any Order.
6.5 We will not be liable to you for any losses, damages or claims, which result directly or indirectly from any changes in the rates of tax.
6.6 We will not be liable for any losses, damages or claims which result directly or indirectly if we fail to receive any documents sent in respect of your Account or any funds held on your behalf, or if you fail to receive any such documentation which we may forward to you.
6.7 Nothing in this Customer Agreement shall be taken to restrict or exclude any duty or liability which we may owe you.
6.8 You agree to indemnify us against any loss, liability, cost, claim, action, demand or expense incurred or made against us in connection with the proper performance of your obligations under this Customer Agreement except where that loss, liability, cost, claim, action, demand or expense arises from our negligence, fraud or wilful default or that of our employees.
6.9 Our failure to seek redress for violations, or to insist upon strict performance, of any condition or provision of this Customer Agreement or our failure to exercise any right or remedy to which we are entitled under this Customer Agreement, shall not constitute an implied waiver thereof.
PART II – FUNDS
7 Client Money
7.1 All amounts handed over by the Client to the Company or which the Company holds on behalf of the Client, for the provision of Investment Services, shall be held in the name of the Client and/or in the name of the Company on behalf of the Client in an account. This means that your funds will be segregated from our own money and cannot be used in the course of our business.
7.2 We may hold your money and the money of other Clients in the same bank account (omnibus account).
7.3 We may receive or pass on clients’ money to any of our affiliated companies or a third party (e.g. a bank, a market, merchant, e-wallet, intermediate broker, OTC counterparty or clearing house) to hold or control in order to effect a Transaction through or with that person or to satisfy your obligation to provide collateral (e.g. initial margin requirement) in respect of a Transaction. We have no responsibility for any acts or omissions of any third party to whom we pass money received from you. The third party to whom we pass money may hold it in an omnibus account and it may not be possible to separate it from our money, or the third party’s money. In the event of the insolvency or any other analogous proceedings in relation to that third party, we will only have an unsecured claim against the third party on behalf of you and our other Clients, and you will be exposed to the risk that the money received by us from the third party is insufficient to satisfy the claims of you and all other Clients with claims in respect of the relevant account. The Company accepts no responsibility for any funds not deposited directly into the Company’s bank accounts, for losses (directly or as a result of) due to delays and/or failures to deposit/remit funds through affiliated and/or third parties.
7.4 We shall not pay you interest on Client money and we may deposit your money in overnight deposits and we will be allowed to keep any interest.
7.5 We may hold your Client money on your behalf outside our home jurisdiction. The legal regime applying to any such bank or person may be different and in the event of the insolvency or any other analogous proceedings in relation to that bank or person, your money may be treated differently from the treatment which would apply if the money was held with a bank in an account in our home jurisdiction. We will not be liable for the insolvency, acts or omissions of any third party referred to in this paragraph.
7.6 We may deposit your money with a depository who may have a security interest, lien or right of set-off in relation to that money.
7.7 Upon signing the Customer Agreement, the Client authorizes the Company to make any deposits and withdrawals from the Bank Account on its behalf including, without prejudice to the generality of the above, withdrawals for the settlement of all transactions undertaken under the Customer Agreement and all amounts which are payable by or on behalf of the Client to the Company or any other person.
7.8 The Company may, at its discretion, from time to time and without the Client’s authorization, set-off any amounts held on behalf and/or to the credit of the Client against the Client’s obligation to the Company or its Broker(s). Unless otherwise agreed in writing by the Company and the Client, this Agreement shall not give rise to rights or credit facilities.
8 Funding and Withdrawals of the Clients Account
8.1 You may fund your Account by credit or debit card, wire transfers or SEPA transfers, e-wallets or other similar methods of money transfer acceptable by the Company or any of its affiliated companies from time to time in its absolute discretion. We do not guarantee that all the transfer methods are available to be used in your country.
8.2 The minimum initial deposit so as to start trading is described in the ‘Accounts’ section of our Website. At our discretion we can allow you to start trading if you have transferred fewer funds than the minimal initial deposit.
8.3The Client may request to withdraw funds deposited to the Account as per the procedure described and subject to delivering to us the documents listed on the Company Website. If your withdrawal request is made to us without meeting all requirements, the Company reserves itself absolute discretion to execute this withdrawal request until all legal requirements are met. All expenses for transfers of funds from or to the Originating Account/Card shall be borne by the Client.
8.4 The Client may withdraw funds deposited to his Account and/or profit gained through trading transactions from his Accounts only to the relevant account or card from which he had used to fund his Account (such account to be called “Originating Account/Card”. Transfers (withdrawals) of funds to accounts/cards other than the Originating Account/Card is allowed at the Company’s absolute discretion and provided the Company is satisfied that there is a reasonable justification for transmitting the funds to a different account.The minimum withdrawal amount is USD 70.
8.5 The Client is fully responsible for the payments details given to the Company and the Company accepts no responsibility for the Client’s funds, if the details provided by the Client are wrong.
8.6 The Company will effect withdrawals of Client funds only when the identity of the Client is verified by the valid Know-Your-Client and Anti-Money-Laundry documentation.
8.7 We shall make any payments due to you in such a manner as we deem appropriate in the circumstances and reserve ourselves the right to initiate legal proceeds against any Client submitting a chargeback.
8.8 The Company offers several promotions from time to time which Clients are free to join. Subject to joining promotions specific conditions may apply; all other terms of this Agreement apply unless specifically excluded.
1. Deposit Bonus
(a) Subject to the deposit method, bonuses receive instant or managers’ approval. Bonuses subject to managers’ approval will only be visible in your bonus wallet once approved.
(b) Some bonus promotions might include a time window for which new deposits are eligible to receive a bonus and shall accordingly be announced in the terms of the respective promotion. In case no specific time window is stipulated, all deposit requests have to be received within the first 24 hours the first deposit was approved under the respective bonus promotion to be eligible for a bonus.
(c) The respective bonus promotion shall indicate the bonus to be granted with each approved deposit. In case no specific terms are issued, the bonus shall be 30%.
(d) The required trading volume is based on the cumulative bonus amount and updated each time a bonus is issued.
(e) Your bonus will be automatically released to your account balance when your leveraged trading volume reaches a specified multiplier on the granted bonus within a period of 60 days. In case the respective bonus promotion does not stipulate different terms, this multiplier shall be USD 10,000. For example, if you have a bonus of USD 300, you need to trade a total volume of USD 3,000,000 for it to be released. If you are subsequently granted another bonus of USD 200, your required trading volume will be USD 5,000,000 to release all bonus funds.
(f) When the bonus is released, it will be automatically credited to your account balance and can be withdrawn immediately.
(g) Bonus funds cannot be used for trading until they are added to your account balance.
(h) The bonus wallet cannot exceed USD 10,000 unless otherwise stipulated in the respective bonus promotion.
(i) Deposited funds (excluding the bonus) can be withdrawn at any time.
(j) The Company reserves its right to amend and/or cancel the conditions of its bonus promotions at any time and it shall be the responsibility of the Client to update himself accordingly. By continuing to participate in the bonus promotions you agree to their terms and conditions.
2. 2. Phone Verification
(a) Clients are eligible to participate in the phone verification bonus by following the relevant promotional campaign and registering their correct telephone number before their initial deposit. Duplicate registrations by the same Client will result in the cancellation of all issued bonuses.
(b) Participating Clients will receive a one-off phone verification bonus worth USD 50 which will be credited to the trading account for immediate use. Failure to trade with the bonus funds within 7 calendar days of receipt will result in the cancellation thereof. In case no further deposits or no trading activities are undertaken within 30 calendar days of receiving the bonus, the remaining account balance shall be debited.
(c) Subject to meeting all of the below criteria, the phone verification bonus will become withdrawable:
a. Initial deposit with minimum according to the account type
b. Completed Know-Your-Client (KYC) documentation
c. Opening of one trade
8.9 The Company may offer one-off incentives (for example but not limited to vouchers and/or cash rewards) for which the bonus terms stipulated under Section 8.8 shall not apply. All other terms of this Agreement apply unless specifically stated in the incentive.
9 Margins and Collateral Payment
9.1 During the lifetime of any Financial Instrument, we, in our absolute discretion, reserve the right to review and adjust the percentage of funding required or the rates at which interest is calculated on such Financial Instrument, with or without notice to you, especially in, but not limited to, volatile market conditions. Positions that are open overnight may be adjusted to reflect the cost of carrying the position over. Details of such adjustments are available on our Website.
9.2 Where we effect or arrange a Transaction involving a CFD you should note that, depending upon the nature of the Transaction, you may be liable to make further payments when the Transaction fails to be completed or upon the earlier of the transaction settlement or closing out of your position. You will be required to make further variable payments by way of margin against the purchase price of the Financial Instrument, instead of paying (or receiving) the whole purchase (or sale) price immediately. The movement in the market price of your investment will affect the amount of margin payment you will be required to make. We will monitor your margin requirements on a daily basis and we will inform you as soon as it is reasonably practicable of the amount of any margin payment required under this clause.
9.3 You agree to pay us on demand such sums by way of margin as are required from time to time or as we may in our discretion reasonably require for the purpose of protecting ourselves against loss or risk of loss on present, future or contemplated transactions under this Customer Agreement.
9.4 Unless otherwise agreed, margin must be paid in cash. Cash margin is paid to us as an outright transfer of funds and you will not retain any interest in it. Cash margin received by us will be recorded by us as a cash repayment obligation owed by us to you.
9.5 In addition and without prejudice to any rights to which we may be entitled under this Customer Agreement, we shall have a general lien on all funds held by us or our Nominees on your behalf until the satisfaction your obligations.
9.6 We shall have the right, in addition to any other rights we may have under this Customer Agreement, or under the law in general, to close, cancel and or limit the size of your open positions (new or gross) and to refuse to establish new positions. Situations where we may exercise such right include, but are not limited to, where:
a) We consider that there are abnormal trading conditions,
b) We consider there to have been abusive trading strategies transmitted to us, or
c) Your account has reached Stop Out level.
9.7 At margin levels of less than 25% of your equity, we have a discretionary right to begin closing positions immediately and without notice. Individual Stop Out levels are set at 25% and we reserve the right to close all or any of your Open Positions below Stop Out level immediately and without notice solely in our discretion. The provisions of this paragraph are applicable to all Clients.
9.8 For deals entered using the MT4 online trading platform, we have a discretionary right to issue margin calls when the margin level is below 50%. Deals will be closed automatically and without any further notice when the margin level falls below 20%.
9.9 It is in the Company’s discretion to close any open deals after an inactivity period of 90 days of such deals. Hedging positions may incur an administration fee of 0.1% of the complete volume (deal plus hedge position) in US-Dollars per day and we retain the right to close any hedged positions after 21 days without any further notice.
9.10 We shall be entitled to retain monies which are required to cover adverse positions, initial margin, variation margin, any uncleared funds, realized losses and any and all other amounts payable to us under this Customer Agreement.
9.11 Whenever we conduct currency conversions, we will do so at such reasonable rate of exchange as we shall select.
PART III – TRADING
10 Online Trading System And Website Access
10.1 When your account is enabled for trading, you are entitled to use your Access Codes within our Online Trading System in order to be able to transmit orders for the purchase or sale of Financial Instruments through us through your compatible personal computer connected to the internet on our Online Trading System.
10.2 You will not proceed and avoid proceeding in any action that could probably allow the irregular or unauthorized access or use of our Online Trading System. You accept and understand that we reserve the right, at our discretion, to terminate or limit your access to our Online Trading System or part of if we suspect that you allow such use of our Online Trading System.
10.3 When using our Website and/or Online Trading System you will not, whether by act or omission, do anything that will or may violate the integrity of our computer system or cause such system to malfunction. You are solely responsible for providing and maintaining the equipment necessary to access and use our Website and/or Online Trading System.
10.4 You acknowledge that the internet may be subject to events which may affect your access to our Website and/or Online Trading System including but not limited to interruptions or transmission blackouts. We are not responsible for any damages or losses resulting from such events which are beyond our control or for any other losses, costs, liabilities, or expenses (including without limitation, loss of profit) which may result from your inability to access our Website and/or Online Trading System or delay or failure in sending Orders.
10.5 We are not an Internet Service Provider and cannot be responsible for not fulfilling any obligations under this Customer Agreement because of internet connection failures or public electricity network failures or hacker attacks.
10.6 We shall not be held responsible in the case of delays or other errors caused during the transmission of orders and/or messages via computer. We shall not be held responsible for information received via computer or for any loss which you may incur in case this information is inaccurate.
10.7 You are permitted to store, display, analyze, modify, reformat and print the information made available to you through the Website and/or Online Trading System. You are not permitted to publish, transmit, or otherwise reproduce that information, in whole or in part, in any format to any third party without our express written consent. You must not alter, obscure or remove any copyright, trademark or any other notices that are provided in connection with the information. You represent and warrant that you will not use the Website and/or Online Trading System in contravention of this Customer Agreement, that you will use the Website and/or Online Trading System only for the benefit of your Account and not on behalf of any other person, and that, with the exception of a web browser and other applications specifically approved by us, you will not use (or allow another person to use) any software, program, application or other device, directly or indirectly, to access or obtain information through the Website and/or Online Trading System or automate the process of accessing or obtaining such information.
10.8 Our operation time for trading is from 17:05 Sunday to 16:59 Friday New York time (EST) which is equivalent to 00:05 to 23:59 server time, Monday to Friday, except the 25th of December and the 1st of January. During the day light saving time our operation and server time is adjusted according to the New York time (EST).
10.9 You agree to keep secret and not to disclose any Access Data to any person other than an individual who has been expressly authorized to act on your behalf according to Section 16.
10.10 You should not write down your Access Codes. If you receive a written notification of your Access Codes, you must destroy the notification immediately.
10.11 You agree to notify us immediately if you know or suspect that your Access Data has or may have been disclosed to any unauthorised person. We will then take steps to prevent any further use of such Access Data and will issue you with a replacement Access Data. You will be unable to place any Orders until you receive the replacement Access Data.
10.12 You agree that you will co-operate with any investigation we may conduct into any misuse or suspected misuse of your Access Data.
10.13 You accept that you will be liable for all orders given through and under your Access Data and any such orders received by us will be considered as received by you. In cases where a third person is assigned as an authorized representative to act on your behalf, you will be responsible for all orders given through and under your representative’s Access Data.
10.14 You acknowledge that we bear no responsibility if unauthorized third persons have access to information, including electronic addresses, electronic communication and personal data, when the above are transmitted between us or any other party, using the internet or other network communication facilities, post, telephone, or any other electronic means.
10.15 We may offer third party authentication services such as Twitter and/or Facebook for registration. While subscribing / registering for our service, you should provide accurate information and should not in any case try to deceive us, impersonate other persons and/or entities. Using third party authentication remains your sole responsibility and we cannot guarantee the data protection enforcement of such third parties. We may or may not choose to verify any or all of the information provided by you during registration or later for security purposes.
11 CFD’s Trading Procedures & Orders
11.1 You or those persons you have notified to us in writing as authorized to give instructions and Orders on your Account may place Orders either via our Online Trading System or via phone, in the way specified in Section 11.2.
11.2 You can place new Orders via our Online Trading System by using your Access Codes, you can give instructions to liquidate your existing positions or to delete/modify pending orders via phone by using your name, username or user ID. Orders are accepted at our sole discretion and we reserve the right to refusal of accepting any Order. For accepted Orders, we will use commercially reasonable efforts when transmitting all Orders for execution to the venues indicated under Section 11.21.
11.3 In case of an Order received by us in any means other than through the online Trading System, the order will be transmitted by us to the Online Trading System (if possible) and processed as if it was received through the Online Trading System.
11.4 We will be entitled to rely and act on any Order without any further enquiry, and we will consider any Orders to be binding upon you where such Order has been placed using your Access Data in accordance with Section 11.2.
11.5 We shall receive and transmit all Orders given by you strictly in accordance with their terms. We will have no responsibility for checking the accuracy of any Order. Any Order that you give to us constitutes an irrevocable instruction to us to proceed with the Transaction on your behalf.
11.6 Any Order shall be conclusively deemed to be a valid Order from you to us if we believe it to be genuine. You are responsible for any loss, claim or expense incurred by us for following or attempting to follow any of your Orders.
11.7 We will not be obliged to check or have regard to any assumption made or expressed by you as to the effect of any trade on your existing or overall positions with us. We need have no regard to your comments that any trade you place is a trade to close all or part of an open position. We will treat all trades as a buy or a sell regardless of whether the trade has the effect of opening a new position or closing an existing one. It is your responsibility to be aware of your positions at all times.
11.8 If you give us an Order which puts you in breach of any of this Customer Agreement, we may in our absolute discretion fill such an Order to the extent we deem appropriate and you will not have any right to cancel any resultant partially filled Order. You will be liable for the breach of this Customer Agreement and remain liable for the settlement of the resultant Transaction in accordance with the terms of this Customer Agreement.
11.9 You may give only the following orders of trading character using our Online Trading Systems:
a) OPEN – to open a position as market or limit order,
b) CLOSE· to close an open position as market or limit order, or
c) To add, remove, edit orders for Stop Loss, Take Profit, Buy Limit, Buy Stop, Sell Limit, Sell Stop;
11.10 Any other Orders not mentioned in Section 11.9 are unavailable and are automatically rejected. Limit orders are often filled at the requested price. If the price requested is not available in the market, the order will be filled as a market order. If the requested price of a Stop Loss or Take Profit is reached at the open of the trading session, the order will become a market order.
11.11 All open spot positions will be rolled over to the next business day at the close of business in the underlying relevant Market, subject to our rights to close the open spot position.
11.12 Subject to this Customer Agreement and as amended from time to time, we may allow our Clients, at our sole discretion, to specify a closing price for “Stop Loss” or “Take Profit” orders. Upon our acceptance of such order, you hereby authorize us to close the respective order subject to the terms specified in the order without any further notice from us to you. Any confirmed positions cannot be cancelled or changed.
11.13 You have no right to change or remove Stop Loss, Take Profit and Limit Orders if the price has reached the relevant level.
11.14 Orders can be transmitted for execution, changed or removed only within the operating (trading) time and if they are not executed they shall remain effective through the next trading session.
11.15 Your Order shall be valid in accordance with the type and time of the given Order, as specified. If the time of validity or expiration date/time of the order is not specified, it shall be valid for an indefinite period.
11.16 Orders: Stop Loss, Take Profit, Buy Limit, Buy Stop, Sell Limit, Sell Stop are transmitted for execution at the price declared by the Client on the first market price touch. The Company reserves the right not to transmit the Order; or to change the opening (closing) price of the transaction in case of the technical failure of the trading platform and also in case of other technical failures.
11.17 Under certain trading conditions it may be impossible to transmit Orders (Stop Loss, Take Profit, Buy Limit, Buy Stop, Sell limit, Sell Stop) at the declared price. In this case the Company has the right to transmit the Order for execution or change the opening (closing) price of the transaction at a first market price. This may occur, for example, at times of rapid price movement, if the price rises or falls in one trading session to such an extent that under the rules of the relevant exchange, trading is suspended or restricted or during the starting moments of the trading session. In the case of such an event, the order will be executed at the next best price. As a result, placing such order will not necessarily limit your losses/take your profits to the fully intended amounts because market conditions may make it impossible to execute such an Order at the stipulated price.
11.18 We may establish cut-off times for instructions or Orders which may be earlier than the times established by the particular market and/or clearing house involved in any Transaction and you shall have no claims against us arising out of the fact that an Order was not placed by you before of our cut-off time.
11.19 We have the right to change the contract specifications, including leverage and spreads, at any time depending on the market situation. You agree to check the full specifications of the CFD before placing any Order. We have the right to allow a change to your trading Account leverage or spreads at our discretion.
11.20 The level of Swap Rates vary in size and change depending on the level of interest rates. We reserve the right to change the level of Swap Rates and credit your account accordingly. From Friday to Monday swaps are calculated once. From Wednesday to Thursday swaps are calculated in triple size.
11.21 Our spreads are based on the market rates received by us from the execution broker(s) and/or liquidity providers and are pre-determined according your account status. Spreads and/or the minimum deal size may be changed at our discretion without your prior consent and/or informing you in writing.
11.22 The Client accepts that the transmitted orders shall be solely executed by the Company’s execution broker(s) and/or liquidity providers which may change from time to time and may be based in jurisdictions not covered under regulations. For any orders placed with the Company, the Company shall act as an agent and not as a principal on the Client’s behalf (Reception and Transmission on Orders).
****** Please note that the customer is always attained to his own local laws.
11.23 You acknowledge that we derive our revenue as fixed share of the spread regardless of you winning or losing deals. Therefore, in case the fair market price reduces our commission in a specific transaction it may occur that the transaction will not be executed by our liquidity providers. In the event of such, a new price quote will be sent to you for consideration.
11.24 For MT4 users we operate under a First-In-First-Out no hedge basis meaning opened deals involving the same Underlyings must be closed out before another deal with the same Underlying but in the opposite direction is opened. Hedged positions shall be closed or cancelled in the discretion of the Company without prior notification of the Client.
12 Best Execution Policy
12.1 The Company follows a strict reception and transmission of orders execution policy and as such we shall ensure each time when carrying out Clients’ order, or acting on behalf of Clients that the following criteria shall be taken into account as applicable:
(a) the characteristics of the Client including the classification of the Client as Retail
(b) the characteristics of the Client order
(c) the characteristics of Financial Instruments that are the subject of the order
(d) the characteristics of the execution venues to which the order can be directed
12.2 The Company shall take all reasonable steps to obtain the best possible result for a Client taking into account price, costs, speed, likelihood of execution and settlement, size nature or any other consideration relevant to the execution of the order. Nevertheless, whenever there is a specific instruction from the Client the Company shall execute the order following the specific instruction as applicable.
12.3 Where the Company shall carry out an order on behalf of a Retail Client, the best possible result shall be determined in terms of the total consideration, representing the price of the Financial Instrument and the costs related to carry out that order, which shall include all expenses incurred by the Client directly related to the execution of the order, including execution venue fees, clearing and settlement fees and any other fees paid to third parties involved in the execution of the order.
12.4 For the purposes of delivering best execution where there is more than one competing venue to carry out an order for a Financial Instrument, in order to assess and compare the results for the Client that would be achieved by executing the order on each of the execution venues listed in the Company’s order execution policy that is capable of executing that order, the Company’s own commissions and costs for executing the order on each of the eligible execution venues shall be taken into account in that assessment.
12.5 Finally, as a safeguard for best execution, the Company shall not structure or charge their commissions in such a way as to discriminate unfairly between execution venues. The Company’s detailed Best Execution Policy can be requested in writing.
13 Refusal To Transmit Orders
13.1 Without prejudice to any other provisions herein, you agree and understand that we have the right, at any time, without giving any notice and/or explanation, to refuse, at our discretion, to transmit any Order for execution, and that you have no right to claim any damages, specific performance or compensation whatsoever from us, in any of the following cases but not limited to:
a) Whenever we deem that the transmission of the Order for execution affects or may affect in any manner the reliability or smooth operation of the Online Trading System,
b) Whenever there are no available cleared funds deposited in your Account to pay all the charges and required margin relating to the said Order,
c) please advise that the minmum deposit is 50$ and tha max its 10,000$ per one credit card , the customer can use up to 3 cards under his name .
d) There is absence of essential detail of the Order,
e) It is impossible to proceed with an Order regarding the size or price,
f) Your Order has more than one interpretation or is unclear,
g) It is impossible for the Order to be executed due to condition of the market, customs of a trading volume,
h) We received from you the notice on cancellation of the contract,
i) Forwarding of the notice on termination of the Customer Agreement by us to you,
j) If any doubt arises as to the genuineness of the Order,
k) Where we suspect that you are engaged in money laundering activities or terrorist financing,
l) In consequence of lawful claims or requirements of corresponding organized trading platforms, affiliates as well as in consequence of lawful claims of third parties,
m) Where the legality of the Order is under doubt,
n) In consequence of request of a court order,
o) In the circumstances mentioned in Section 9 and Section 21,
p) Where the Order is placed in a manner and form not compliant with our normal operations of business, or
q) When the underlying market is closed and the Company does not receive liquidity from its execution venues.
14 Confirmations and Client Reporting
14.1 We reserve the right, at our discretion, to confirm in any manner the instruction and/or Orders and/or communications sent through the Online Trading System. You accept the risk of misinterpretation and/or mistakes in the instructions and/or Orders sent by you, regardless of how they have been caused, including technical and/or mechanical damage.
14.2 Information on Order(s) status, Accounts status, Trade Confirmations and messaging facility between us and you may be available via, but not limited to, our Online Trading System.
14.3 Any notice or other communication to be provided by us under the Customer Agreement, including a trade recap, Account Statements and Trade Confirmations, will be sent to you either in electronic form by e-mail to the CFDs Customer Agreement email address which we will have on record on you or provided via our Online Trading System. You are obliged to provide us with e-mail and mailing addresses for this purpose. We are not responsible for any delay, alteration, re-direction or any other modification the message may undergo after transmission from us.
14.4 It is your responsibility to inform us of any change to your email address (or any other relevant personal information), the non-receipt of a Confirmation, or whether any Confirmations are incorrect before settlement.
14.5 We will send to you, in the method specified above in Section 14.3, a Trade Confirmation in respect of each executed Order. Such documents shall, in the absence of manifest error, be deemed conclusive unless you notify us in writing to the contrary within 48 hours of receipt of the said Trade Confirmation. In the event that you believe that we have entered into a Contract on your behalf, which should have produced a Trade Confirmation, but you have not received such Confirmation, you must inform us immediately but no later than 48 hours when you ought to have received such Confirmation. In the absence of such information the Contract may at our absolute discretion be deemed non-existent.
14.6 A statement of Account is available to you on the private zone of your account. Any confirmation or proof for any act or statement of account or certification issued by us in relation to any transaction or other matter shall be final and binding on you, unless you have any objection in relation to such statement of account or certification and the said objection is filed in writing and received by us within five (5) Business Days from the issuance of any statement of account or certification.
14.7 We may provide to you Reports for the requested date on the Balance of your Account. Such Reports can be provided within 5 (Five) Business Days from the date of receipt of the request for such Report from the Client and will be subject to a standard minimum fee.
14.8 If we hold your funds we shall send to you, upon your request, a statement of those funds.
14.9 We will provide you with an online access to your Account via our Trading System by using your Access Data, which will provide you with sufficient information in order to manage your account and reporting, therefore we may not be providing you with periodic and/or annual statements.
14.10 The Company reserves the right to charge a fixed payment of USD 50 every three months for account maintenance assuming that the account has these available funds. If the Client account is funded with less than USD 50 and has been inactive for the said period, the Company reserves the right to charge a lower amount to cover administrative expenses and inform the Client of the pending account closure within the next 10 business days after this notification. In the case of account closure this Agreement will be suspended and/or your account will be archived.
15 Assurances, Guarantees
15.1 By agreeing to be bound by this Customer Agreement, and again on each occasion that you place an Order, you state, affirm, warrant and guarantee to us as follows:
a) You are placing the Order and entering into the Transaction as principal, (that is on your own behalf and not for any third person), unless you have produced to our satisfaction, a document and/or powers of attorney enabling you to act as representative and/or trustee of any third person and relevant identification documents for such third party.
b) You are entering into and performance of the terms of this Customer Agreement and each Transaction does not breach, conflict with or constitute a default under any law, regulation, rule, judgment, contract or other instrument binding on you or any of your funds or assets.
c) You are not subject to any restrictions in placing the Order or entering into the Transaction contemplated by the Order.
d) You have taken such advice in respect of the Transaction contemplated by the Order and have not relied on any representation or information provided by us in reaching your decision to enter into the Transaction.
e) You are duly authorized to and have obtained all necessary power, authorizations and approval to enter into this Customer Agreement and to sign and give Orders and to otherwise perform your obligations under this Customer Agreement.
f) All the information disclosed to us in your Application Form, the documentation provided and otherwise is true and accurate and that you undertake to inform us in writing should there be any changes to the information provided.
g) The documents handed over by you to us are valid and authentic and to the best of your knowledge and belief, the information provided in the Application Form and any other documentation supplied in connection with the application form, is correct, complete and not misleading and you will inform us if any changes to such details or information.
h) Your funds are not in any direct or indirect way the proceeds of any illegal activity or used or intended to be used for terrorist financing.
i) You are over 18 years old and of sound mind, having no legal or other obstacle prohibiting you from entering into this Customer Agreement.
j) You have provided us with your investment objectives which are relevant to our Services for example whether there are any restrictions on the markets or instruments in which any Transactions will be sent for execution for you, depending on your nationality or religion.
16 Third Party Authorization to Trade
16.1 You have the right to authorize a third person to give Instructions and/or Orders to us provided you have notified us in writing, of exercising such a right and that this person is approved by us fulfilling all of our specifications for this.
16.2 Unless we receive a written notification from you for the termination of the said person’s authorization, we will continue accepting instructions and/or orders given by this person on your behalf and you will recognize such orders as valid and committing to you.
16.3 The written notification for the termination of the authorization to a third party has to be received by us with at least 5 days notice prior the termination date.
PART IV – GENERAL PROVISONS
17 Legal Provisions
17.1 Notwithstanding any other provision of this Customer Agreement, in providing Services to you we shall be entitled to take any action as we consider necessary in our absolute discretion to ensure compliance with the relevant market rules and or practices and all other applicable laws.
17.2 We are authorized to disclose information relating to you and/or your Transactions as required by law and/or where we believe it is desirable for the proper management of your Account.
17.3 Under internal policies, we will keep Client records for at least five years after termination of the Customer Agreement.
17.4 Should any part of this Customer Agreement be held by any court of competent jurisdiction to be unenforceable or illegal or contravene any rule, that part will be deemed to have been excluded from this Customer Agreement from the beginning and this Customer Agreement will be interpreted and enforced as though the provision had never been included and the legality or enforceability of the remaining provisions of the Customer Agreement or the legality, validity or enforceability of this provision in accordance with the law and/ or regulation of any other jurisdiction, shall not be affected.
18 Introduction of Clients
18.1 Some Clients may have been introduced to the Company by a business introducer. In such case and by accepting this Customer Agreement, the Client acknowledges that:
a) The business introducer is not a representative of the Company nor is it authorized to provide any guarantees or any promises with respect to the Company or its services,
b) The Company shall not be liable for any type of agreement that may exist between the Client and the business introducer or for any additional costs that might result as a result of this agreement, and
c) Based on a written agreement with the Company, the Company may pay a fee or a retrocession to the business introducer as defined in Section 19 (Inducements).
19 Inducements (payments to/from third parties)
The Company may pay and/or receive fees/commission to/from third-parties provided that these benefits are designed to enhance the quality of the service offered to the Client and not impair compliance with the Company’s duty to act in the best interests of the Client.
19.1 The Company may pay fee/commission to business introducers, referring agents, or other third parties based on a written agreement. This fee/commission is related to the frequency/volume of transactions and/or other parameters.
19.2 The Company may receive fees/commission as well as other remuneration from third parties based on a written agreement. The Company may receive fees/commission from the counterparty through which it executes transactions. This fee/commission is related to the frequency/volume of transactions executed and/or other parameters.
19.3 The Company has the obligation and undertakes to disclose further details regarding inducements upon the Clients request.
20 Communication and Notices
20.1 We may provide you with access to third party trading recommendations, market commentary or other information. Where we do so:
a) this is incidental to your dealing relationship with us. It is provided solely to enable you to make your own investment decisions and does not amount to investment advice,
b) if the document contains a restriction on the person or category of persons for whom that document is intended or to whom it is distributed, you agree that you will not pass it on to any such person or category of persons,
c) we give no representation, warranty or guarantee as to the accuracy of completeness of such information or as to the tax consequences of any Transaction, and
d) you accept that prior to dispatch, we may have acted upon it ourselves to made use of the information on which it is based. We do not make representations as to the time of receipt by you and cannot guarantee that you will receive such information at the same time as other Clients. Any published research reports or recommendations may appear in one or more screen information service.
20.2 Market commentary is subject to change and may be withdrawn at any time without notice.
21.1 Complaints can be addressed to us in two ways: through the Feedback Center found on our website or by sending us an email as described in Section 21.2 below. Complaints shall be handled, in the first instance, by the customer support department. If you receive a response from the customer support department but deem the complaint to be unsolved, you may contact the compliance department which is an independent department within our Company. We have put in place formal procedures for handling complaints fairly and promptly aiming to solve any complaint submitted to us in a fair manner without escalating it further.
21.2 Any complaint has to be submitted within two days of occurring by email firstname.lastname@example.org and needs to include:
a) full name the Client,
b) clients username,
c) email and telephone number,
Governing Law and Exclusive Courts” – This Agreement will be governed by in accordance with the laws of St Vincent and the Grenadines without regard to its choice of law principles. Any legal action or proceeding arising in connection with this Agreement will be brought exclusively in courts of St Vincent and the Grenadines, and the parties irrevocably consent to such personal jurisdiction and venue.
Refund policy , – the client is entitled for a full refund on his unused funds, in case the client loose there is no refunds for this funds and the company will not be held responsible. in order to receive the refund the client needs to present with a full KYC documents. after having those documents we will process the request and the company will refund the funds to the same deposit method given by the client at first within 7 days excluding transfer fees etc.