You must create an account on the Service (an “Account”) to use Service of the Company. By
this
Agreement you represent and warrant that all information that you provide to us in creating
your
Account is complete and accurate. You shall update such information when it changes or at
the
Company’s request.
By creating an Account on behalf of a company or other entity, you represent and warrant
that
you have the authority and capacity to enter into this Agreement and bind the entity on its
behalf.
You shall not use another person or entity’s Account without authorization. You shall be
solely
responsible for maintaining the confidentiality of and restricted access to your Account.
You
shall be solely responsible for all activities that occur under your Account. You shall
notify
us immediately of any breach of security or unauthorized use of your Account. Pursuant to
the
terms herein, and without limiting the terms of the further indemnification and limitations
of
liability terms herein, the Company shall not be liable for any losses resulting from any
unauthorized use of your Account and you hereby indemnify us and hold us harmless for any
such
unauthorized use.
You may only have one Account. You may not share an Account with any other person or entity.
If
you wish to open more trading accounts you should contact your account manager.
If the Company have reasonable grounds that an Account have been opened with the intention
to
fraud or/and multiply accounts have been created without approve of account manager, the
Company
reserve the right to cancel any transaction related to that Account.
You authorize the Company, directly or through third parties, to make, at any time, any
inquiries we consider necessary to validate your identity. This may include asking you for
further information, requiring you to provide personal information and other information
that
will allow us to reasonably identify you, requiring you to take steps to confirm ownership
of
your email address or financial instruments, or verifying your information against third
party
databases or through other sources. We may also request to see your passport or other
identifying documents at any time.
We offer Islamic CFD accounts also known as swap-free CFD accounts, because, within this
kind of
account, no swap or roll-over interest will be charged to or incurred on positions that are
held
overnight. These accounts comply with Islamic religious principles. According to the Islamic
religion, any business transaction in which one of the parties has to pay or receive some
interest from another party is forbidden.
Swap-free-accounts shall be used strictly in good faith for Muslim religious compliance
reasons
only. We reserve the right to require an adequate justification for and/or proof of the
necessity of need of any such conversion. Furthermore, we reserve the right to refuse the
processing of any such request at its own discretion, without being obliged to provide any
explanation or justification.
You acknowledge that the use of swap-free trading accounts to make profit from swaps is not
allowed. We reserve the right to revoke the swap-free status granted to any trading account
at
any time at its own discretion, without being obliged to provide any explanation or
justification.
In the event that we detect any form of abuse, fraud, manipulation, interest/cashback
arbitrage
or other forms of deceitful or fraudulent activity in regard to any swap-free accounts, we
reserve the right, at any time:
- with immediate effect to revoke the swap-free status from any trading account of such
client;
- to correct and recover any un-accrued swaps and any related un-accrued interest expenses
and/or costs pertaining to any of such client’s swap-free accounts during the period for
which such accounts were converted into swap-free;
- with immediate effect, to close all trading accounts of such client with us, nullify all
trades carried out in such client’s trading accounts with us and cancel all profits
garnered in such client’s trading account with us.
We may change, modify or amend in part, or fully, the above described swap-free-account
policy at our own discretion, without being obliged to provide any explanation or
justification.
The Service allows you, inter alia, to engage in transactions based on certain assets,
including
currencies, financial instruments that defined as CFD’s (contracts for difference) and other
securities. You acknowledge and understand that you engage in every action, omission,
purchase,
sale, trade or other transaction (hereafter “Transactions”) on the market as a principal and
that we do not act as your agent on the Service in any financial or trading operations. You
acknowledge that you are directly and fully responsible for fulfilling all your obligations
regarding your Transactions on the market carried out with the help of the Service of the
Company.
After the completion of all security and identification procedures associated with the
Service,
we will grant you with the access to the Service unless agreed or stated otherwise. All
references to our hours of trading are in Greenwich Mean Time (“GMT”) using 24-hour format.
Our
Service will normally be available continuously from 22:00 GMT Sunday until 22:00 GMT Friday
(winter time), or from 23:00 GMT Sunday until 23:00 GMT Friday (Daylights Saving Time) every
week, excluding public holidays where the financial markets do not operate and cases where
the
market is closed due to no liquidity in the financial instruments. Please, check our website
for
more details on operating times for each financial instrument in every period of time. We
reserve the right to suspend or modify the operating hours on our own discretion and on such
event our website will be updated in order to inform you accordingly.
The Clients have the possibility to execute trading operations on the phone during the
trading
hours.
You understand and acknowledge that the Company can close transactions for contracts for
difference using the last available price on the market on the day, when the contract
expires.
The closing time is specified on the Company’s website.
The Company offers its Clients different types of spreads according to the type of the
account.
The Company offers a fixed spread on the web platform. The fixed spread changes depending on
time and market conditions.
The Company offers a floating spread on MT4 trading platform. The floating spread on the
CFD’s
market means a constantly changing value between Ask and Bid which depends on the market
volatility and liquidity.
You acknowledge that the minimal timeframe for manual execution of the transaction on the
webplatform is 3 minutes. We reserve a right to cancel transactions in cases where the
timeframe
between the opening of the transaction and its manual closure was less than 3 minutes. There
is
no minimal timeframe for open positions on the MT4 terminal.
Maximum period for keeping an open position on the web-platform is 21 days. We reserve a
right
to close your transactions with open positions outstanding for more than 21 days. If the
order
was opened on the contract with the specific expiration date, such order will be closed in
21
days or on the contract’s expiration date (one of the events that occur earlier).
The stop-out level is the level where open positions will be closed automatically in order
to prevent further losses and entering an account to the negative balance.
On the MT4 terminal the stop-out level is calculated as: (equity/used margin)*100%. The
default
stop-out level on the MT4 terminal is equal to 50% for minimal and standard types of
accounts
and is equal to 80% for gold and platinum types of accounts.
On the web-platform the stop-out level is calculated as: the real funds on your account at
the
given moment of time taking into account the opened (floating) loss and/or profit positions/
financial result of the trading account without taking into account the opened
positions*100%.
The default stop-out level on the web-platform is equal to 0%.
The company reserves the right to change the stop-out level in its sole discretion without
notice with immediate effect due to the market conditions.
The thresholds of minimum and maximum sizes of lots depend on the type of the account, as
specified in the web-site of the Company. We reserve a right to change the thresholds of
minimum
and maximum sizes of lots in our sole discretion.
YOU UNDERSTAND AND ACKNOWLEDGE THAT YOU MAY LOSE MONEY, AS A RESULT OF YOUR USE OF THE
SERVICE
(INCLUDING AS A RESULT OF YOUR EXECUTION OF TRANSACTIONS) AND THAT YOU TAKE SOLE
RESPONSIBILITY
FOR SUCH LOSSES.
Your use of the Service is strictly limited by the terms of this Agreement (including any
documents referenced or incorporated herein) and the technical limitations placed on the
Service.
The Service carries out your Transactions on an execution-only basis. We and the Service are
entitled to execute your Transactions even if the Transaction is not beneficial to you. We
do
not and will not manage your Transactions, nor will we advise you on your Transactions. You
understand and acknowledge that we assume no responsibility whatsoever for your
Transactions.
You understand and acknowledge that we assume no responsibility whatsoever for monitoring
your
Transactions. If at any time we choose, in our sole discretion, to monitor your Transactions
for
any reason, we assume no responsibility for your Transactions and have no obligation to
advise
you regarding your Transactions. Without limiting the foregoing, we are under no obligation
to
make margin calls or to close out any of your open positions.
Customers are given the opportunity to perform trading operations on the phone during
trading hours.
To execute trading operations over the phone Company’s employees may provide technical
assistance to Clients in the opening/closing / changing parameters of transactions (take
profit, stop loss) on behalf of Clients on the phone. If customers do not agree with the use
of the Service of the Company, they may notify the Company or not to use this Service.
In order to open / close / change transaction or request setting the order, the Customer
must
contact the Customer Support department (account manager).
The Client also has the right to ask the Company for obtaining the regular technical
assistance
in opening/closing / changing transactions using the phone. In this case, the Company’s
account
manager performs regular telephone communication with the Client in order to facilitate the
Customer in performing transactions.
When opening transactions using the phone you need to:
- 1) Identify yourself by entering the surname, first name, patronymic and login account.
- 2) If necessary answer the possible control question (date of birth, and other personal
data
provided to the Company by the Client).
- 3) Confirm the conditions to open (option type, position size, direction, the expiration
of the option) the transaction (sell-buy), take profit, stop loss (if necessary). The
account manager reports to the Client the current rate of the asset and receives the
Client’s consent to the opening of the transaction at a specified rate.
When closing transactions by the phone you need to:
- 1) Identify yourself by entering the surname, first name, patronymic and login account.
- 2) If necessary answer the possible control question (date of birth, and other personal
data
provided to the Company by the Client).
- 3) Accurately specify the transaction that needs to be closed.
When changing transactions by the phone you need to:
- 1) Identify yourself by entering the surname, first name, patronymic and login account.
- 2) If necessary answer the possible control question (date of birth, and other personal
data
provided to the Company by the Client).
- 3) Accurately specify the transaction which parameters you want to change, and specify
what changes need to be implemented.
Before entering into transactions by phone the margin balance required to open a trade
should be checked.
In order to ensure the quality of service, telephone calls can be recorded. You agree and
acknowledge that all conversations between you and the Company staff may be recorded without
a
previous warning. You agree and acknowledge that these recordings and the transcriptions
could
be used as an evidence in any further dispute.
The Client agrees that the remote method of opening / closing / changing transactions from
the
date of receipt of the command / Client’s consent to the opening / closing / changing
transactions may be fluctuations in the rate of the asset. The Client accepts these terms
and
undertakes not to have any claims on such fluctuations in the case of a remote method of
opening
/ closing / changing transactions.
Confirmation of execution of the Client’s instructions when opening / closing / changing
transactions for the Company will be the agreement on the method of opening / closing /
changing
transactions, expressed through the adoption of the terms of this Agreement, as well as
recording a phone conversation with the Client.
The use of a method of performing trading operations described herein does not lead to the
conclusion by the Company and the Client any separate contract, including the contract of
trust
management, etc. All trading operations performed using technical assistance from the
Company
are made by the Client and at the Client’s discretion. The Company, as in all other cases,
is
not responsible for the results of these transactions.
The calculation of the prices, payouts or losses related to Transactions at the time the
Transaction is opened and closed will be based on our estimate of actual market prices and
the
expected level of interest rates, implied volatilities and other market conditions during
the
life of the Transaction. These values are based on complex arithmetic calculations as
determined
by us in our sole discretion. These calculations include a spread in favor of us, which
means
that the values involved may differ substantially from prices available on primary markets
where
similar transactions are conducted.
We do not support physical delivery of currency (or any other securities) in the settlement
of
any Transactions. Any gains or losses you experience as a result of a Transaction will be
deposit to or withdrawn from your Account after your Transaction has been completed.
You acknowledge and agree that in the event that any Transaction is completed at prices that
do
not reflect actual market prices due to any reason, including an undetected programming
error or
glitch or any other reason which results in a mispricing, we reserve the right to cancel or
roll-back such Transactions.