GENERAL PROVISIONS
1.1 Risk Warning Notice
i. The high degree of capital risk associated with investing in our products may not be suitable for all investors. You should ensure you are aware of the risks by reading the risk warnings in each Product Schedule and obtaining independent advice if required. Prices for our products may change quickly to your detriment. Trades made using the Products involve leverage and this increases the risk of losing your deposit.
ii. In the event that you have been designated as a Retail Customer, your potential loss is restricted solely to the extent of your invested capital. Countdowns are unavailable to Retail Customers under these circumstances. However, if you are classified as a Professional Customer or an Eligible Counterparty, although an overall negative balance is not deemed acceptable, there exists the potential for the establishment of a credit line through resolutions passed by the Board of Directors.
iii. FTD assumes that a Professional Customer and Eligible Counterparty have the necessary knowledge and skills to understand the risks connected with the specific investment services, activities, or products for which the Customer has been designated as a Professional Customer and Eligible Counterparty. As a result, no assessment of suitability will be performed for Professional Customers and Eligible Counterparty.
iv. All Trades will be conducted on a non-advised, principal-to-principal, and execution-only basis unless agreed upon otherwise in writing. This implies that neither party can act as an agent, trustee, attorney, or representative for any other individual without prior written agreement. Except for an Authorized Person designated for an Account according to clause 5.3, you are not authorized to allow anyone to conduct business with us on your behalf. We do not offer investment, financial, legal, tax, regulatory, or similar advice. The information or features (including charts) provided to you must not be regarded as advice that is suitable for you or based on your circumstances. We are not liable for any investment decisions made by you.
1.2 Scope of the Terms
i. This Agreement shall be considered as a part of the Customer Agreement between you (also referred to as “our Customer” or “your) and FTD Limited (also referred to as “FTD”, “we”, “us”, “our”).
ii. Each Transaction that is now occurring between us is governed by this Agreement.
iii. These Terms, our Order Execution Policy, our Risk Warning Notice, and any other written terms and conditions you accept in connection with your Account or use of the Platform constitute our agreement with you. The Agreement, which includes these documents.
We will notify you of any changes to the Agreement. You must ensure that you keep informed of these changes.
iv. On our website and through our platform, you can access informative supplementary documents and information that do not form a part of the Customer Agreement or this Agreement.
v. You agree that nothing other than what is specifically stated in this Agreement has been relied upon or used to convince you to enter into this Agreement.
vi. This Agreement contains all the terms and conditions that govern our relationship and your activities carried on with us on or in relation to the Platform and supersedes any prior oral or written representations and/or agreements between you and us which relate to our Platform.
vii. The terms that are described in Section 4 under the title of “Definitions” are to have a specific meaning unless otherwise stated and may be used in either the singular or plural depending on the context.
viii. It is advised that you set aside enough time to properly understand the Agreement as well as all other papers and information available on our website and platform before applying for an Account and/or putting any Orders in order to protect your benefit. It is advised that you consult a qualified expert for guidance if you are unsure about any aspect of this Agreement.
ix. We are required to conduct our business and dealings with you by the Applicable Law.
The definitions in this Article are based on the UK Financial Conduct Authority ("FCA") Rules. However, this does not mean that the FCA Rules shall apply or be applicable for the remainder of the Agreement.
ii. A Customer who is neither a professional Customer nor an eligible counterparty is referred to as a "Retail Customer". Retail Customers have a right to the FTD's highest level of protection and information.
iii. A Customer who has the experience, knowledge, and skills to make his/her own investment decisions and accurately estimate the risks it takes is referred to as a "Professional Customer."
iv. “Eligible counterparties” are professional Customers of specified types who receive a lower degree of protection in respect of the transaction with the FTD or in respect of the ancillary service directly relating to the transaction in the course of execution of orders on behalf of Customers and/or dealing on own account and/or receiving and transmitting orders and ancillary services related to any of these investment services (if applicable).
v. All kinds of Customer criteria, determination, and scope are determined by FTD on a Customer-by-Customer basis at its sole discretion.For the purposes of the applicable law to be applied to our relationship, we shall consider you to be a Retail Customer until we have specifically told you differently in writing. You might not be eligible for certain legal protections provided to retail Customers if we have classified you as a professional Customer or an eligible counterparty (whether or not at your request). You are allowed to ask for a different customer classification. If you ask for a different customer category, we'll get in touch with you to clarify the procedure and any new requirements that apply. (Please see our Customer Acceptance Policy for detailed information on customer categorisation, and the protections different categories of customers are entitled to.)
In relation to anti-money laundering, sanctions, and financial crime prevention, you confirm and guarantee that you are currently in compliance with all applicable regulations, including those concerning bribery and corruption, financial crime prevention, and economic sanctions programs that apply to BVI and any jurisdiction in which you operate. We are obliged to comply with these regulations, which means that:
a. If we do not receive adequate proof of identification within a reasonable amount of time, we have the right to terminate operating with you.
b. We retain the right to end this Agreement immediately, decline to carry out any pending Orders, and prevent access to your Account and its assets if we have a reasonable belief that you may have violated the AML Laws, or if you refuse to furnish us with the necessary information about yourself during the Account opening process or at any other stage that we may require at our discretion. Additionally, if any of the warranties and representations made by you are found to be untrue, we may also take such actions.
c. We reserve the right to report and disclose any pertinent information to any person or authority that we consider necessary to comply with applicable regulations and may act upon their instructions in relation to you, your Transactions, your Account and any information which we have regarding you and your dealings with us.
d. We may decline to provide additional explanations for any actions taken, refusals, or failures to act if we determine that it is necessary to meet our obligations under applicable regulations,
e. We will not be responsible for any loss or damage you may suffer due to any action or refusal to act on our part, which we consider necessary for complying with the applicable regulations.
You agree to cooperate with us and promptly provide any requested information related to the inquiry if a regulatory body or other authority requests information regarding any of your transactions.
g. By agreeing to this, you declare and guarantee that you have provided complete and truthful information about all of your ultimate beneficial owners and anyone who holds a synthetic, economic, direct, or indirect interest in over 10% of your share capital or economic rights. You have also given us the necessary details to verify your identity, comprehend your business, financial and risk profile, and identify those in control and your beneficiaries.
h. You guarantee and confirm that you, as a legal person, have provided or will provide us with the information necessary to establish your identity, understand your business, financial and risk profile, including the sources of your wealth, and identify your beneficiaries and controlling persons (if you are a legal entity), as well as disclose the nature of your intentions. This information must be provided as directed by us and in compliance with the Applicable Law.
i. You guarantee and confirm that neither you nor any of your associates, including your or their directors, officers, employees, agents, or underlying Customers, are individuals or entities subject to financial crime sanctions, or are legally or beneficially owned or controlled by anyone subject to such sanctions.
j. By agreeing to this, you guarantee that you have fully and truthfully disclosed all of your ultimate beneficial owners and anyone who holds a synthetic, economic, direct or indirect interest in more than 10% (or any other percentage deemed appropriate by us) of your share capital or economic rights (including the economic rights to transactions carried out through us). Additionally, you have provided or will provide us with the necessary information (certified as per our requirements) to enable us to establish your identity, comprehend your business, economic and risk profile (including your sources of wealth), identify your beneficiaries and controlling persons (if you are a legal person), and determine the nature of your intentions while entering into this Agreement.
k. If you or any of your ultimate beneficial owners, directors, officers, employees, agents, or underlying Customers for whom you might act under this Agreement are a Politically Exposed Person (“PEP”), you have made sufficient disclosure of this fact to us. Furthermore, if during the term of this Agreement, you or any of your ultimate beneficial owners, directors, officers, employees, agents, or underlying Customers for whom you might act hereunder become a PEP, you will notify us immediately.
l. You confirm that if any information provided to us in respect of yourself changes in any material respect, you will immediately notify us of such change. You understand that your Account and any assets thereon may be frozen or blocked at our sole discretion and any services provided hereunder may be suspended, pending collection by us of full and correct information regarding your status.
m. You warrant to us that your account is for your personal use only, and you acknowledge that we may freeze or block your account and any associated assets at our discretion if any of those assets are held with, transferred, or delivered to us on behalf of a third party.
n. You agree that all remittances in your account are the result of bona fide economic activities that have been accurately reported to the applicable tax authorities and have not been acquired through any means that may be regarded as acts of bribery or corruption, money laundering activities, or any other financial crime.
Account shall mean any account for trading Trades that you hold with us.
Account Close-out shall mean that our Platform has the capability to close either a part or the entirety of your Trades and/or Positions through a certain process.
Account Currency shall mean the currency in which an Account is designated and in which all Deductions and Credits shall be made.
Account Value shall mean the sum of your Cash and any net Unrealised Profit or Loss (as applicable), where the net Unrealised Profit or Loss is calculated using the first Buy Price or Sell Price (as applicable) displayed on the price ladder on the Platform, that is displayed on our Platform and updated in real-time.
Applicable Law shall mean any laws, statutes, orders, rules, decisions, provisions, directives, regulations, requirements, conditions, standards, sanctions, guidelines, and industry codes having a legal effect in any jurisdiction, provided that such laws, statutes, orders, rules, decisions, provisions, directives, regulations, requirements, conditions, standards, sanctions, guidelines or industry codes are existing and in force from time to time and (where relevant in the context) are directly or indirectly applicable to us, you, the Customer Agreement, our Website, or our Platform.
Associate shall mean an organization that is a member of the same group as us, a representative that we or a company in the same group as us appoints, or any other individual that we have a connection to that may reasonably be considered to result in a shared interest.
Authorized Person shall mean individuals who may be appointed by you, either in accordance with section 5.3 to act and/or offer instructions on your behalf for the Agreement and the applicable Account, or as an introducing broker, money manager, agent, or intermediary who has been accepted by us as per agreement.
Available Cash shall mean the lower of your Cash or your Available Equity on an Account, which will be displayed on the Order ticket for any Countdown.
Available Equity refers to the Amount is calculated by subtracting any Margin requirements from your current Account Revaluation Amount.
Business Day shall mean any day (other than a Saturday or Sunday) on which banks are open for business in British Virgin Islands.
Cash shall mean for any Account, is the total of successfully received payments from you to us, credits from us to your Account, and Realized Profits, minus Deductions, Realized Losses (whether due or not), and any money you have withdrawn. It's important to note that Cash does not always indicate the amount of money available for withdrawal. The maximum amount available for withdrawal is the lesser of your Available Equity and Cash.
CFD Margin Trade is a cash-settled contract entered into between you and us through our Platform on an Account which seeks to track an investment in the relevant underlying asset without the usual costs and rights associated with an investment in that underlying asset.
CFD shall mean a contract for difference, CFDs are financial derivatives that are traded on margin, transacted off-exchange (or OTC), and whose value depends on an underlying instrument. The underlying instrument may be a financial instrument such as a foreign exchange or another financial asset.
Circumstances Outside Our Control refers to situations or events that are either currently happening or may happen soon, which prevents us from fulfilling our obligations. These circumstances include, but are not limited to:
a) Changes in Applicable Law or actions taken by authorities
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b) Events or circumstances that disrupt the normal functioning of our Platform, such as system errors, failures, or disruptions, including third-party infrastructure
c) Acts or omissions of third parties, where we are unable or find it impractical, despite reasonable efforts, to acquire, establish, re-establish, substitute, maintain, unwind, or dispose of a trade or asset to hedge our price risk related to Trades
d) Natural disasters, emergencies, or acts of God
e) Human-made emergencies such as fires, explosions, criminal acts, riots, war, armed conflicts, terrorist attacks, or imposition of sanctions
f) Volatility and/or liquidity changes in the underlying market that affect our ability to determine or continue to determine a fair and reasonable price for a Product
g) Any other extraordinary event or circumstance beyond our control.
Customer Agreement shall mean the agreement that comes into effect upon your signing of the Account opening form, whereby, by signing said form, you acknowledge and accept all attached documents, including the Customer Agreement, and receipt of notification from us that you have been accepted as our customer.
Customer Categorization Letter shall mean the Customer categorization letter sent to you that designates your Customer categorization as a Professional Customer or as an Eligible Counterparty for the purposes of FSC Rules.
Conflicts of Interest Policy shall mean a policy in place that outlines situations that may lead to a conflict of interest, the measures we will adopt, and the procedures we will follow to prevent or manage such conflicts. Despite our best efforts, if we are uncertain that our measures will prevent damage to your interests, we will inform you of the nature of the conflict and the steps taken to mitigate the risk before conducting any business with you. Our conflicts of interest policy is being updated, restated, or modified from time to time.
Countdown Opening Price refers to the reference price that pertains to a Countdown on our Platform and is determined based on its input, creation, and display.
Countdown shall mean a contract with limited risk, entered into between you and us, enabling you to speculate on whether the Price of a Product will increase or decrease within a predetermined timeframe. Your win or loss depends solely on whether your prediction
aligns with the Settlement Price of the Product at the expiry of the Countdown, in relation to the Countdown Opening Price at its beginning.
Currency Conversion Rate refers to the currency exchange rate applicable at the relevant time, which we will use to convert values denominated in a Product Currency into the Account Currency.
Elements shall mean all Intellectual Property Rights in connection with our Platform and Website, including but not limited to software, algorithms, design, text, content, data (including market data owned by third parties and used by us to generate Prices), arrangement, organization, graphics, compilation, magnetic translation, digital conversion, equipment, and any other electronic, computer, technical, and information communication technology devices, networks, servers, applications, codes (It also contains all technical documentation and information required to use any of the foregoing.)
Insolvency Event refers to the occurrence of any of the following:
a) the appointment of a receiver, administrator, manager, administrative receiver or similar officer in relation to you;
b) the possession or sale of all or part of your assets or business by an encumbrancer;
c) you being unable to pay your debts as they fall due;
d) an interim order application, voluntary arrangement proposal, deed of arrangement, or bankruptcy petition being presented to the Court regarding you;
e) a resolution being passed or an order being made for your winding up, dissolution or administration if you are a body corporate; or
f) your bankruptcy or insolvency, or any event similar to those described in (i) to (v) happening to you.
For partnerships or Joint Accounts, if any of the events in (i) to (vi) happen to one partner or Joint Account holder, it will constitute an Insolvency Event.
Joint Account refers to an account owned jointly by two or more people.
Manual Order shall mean a type of Order that may only be placed by our Customer management team and is only available to Professional Customers and Eligible Counterparties that get additional services.
Manual Product shall mean a Product for which our Customer management team is the only channel through which we will accept Orders or permit you to engage in Products that we offer.
Open Position shall mean a transaction which has not been closed in whole or in part under this Agreement.
Order Execution Policy refers to the policy for executing orders, which outlines the way we carry out orders, can be found on our website.
Order refers to an offer made by you or on your behalf through our Platform. This definition includes Orders for Manual Products, Manual Orders, and Pending Orders, unless otherwise stated or implied by the context.
Pending Order refers to an order that includes a designated price and has not yet been carried out.
Platform shall mean our electronic trading platform for Products which will be periodically updated.
Position means all Trades in a particular product provided by FTD Limited in an account at any given time.
Price refers to the Buy or Sell Price of a Product determined by our Platform or provided by our Customer management team, which can be referred to as “Price”, “FTD Price,” or similar variations. This price is calculated based on the Price Depth and may change from time to time. If you place an Order for any Product, the Price at which your Order is executed may be different from the Price displayed on our Platform or provided by our Customer management team at the time of Order submission due to market fluctuations. As a result, the execution price may not be as favorable to you.
Price Depth shall mean the function on our platform that presents various prices for a specific product, based on the size of the orders placed for that product, and which may be visible on our platform.
Pricing Error refers to a disruption related to the underlying asset of a Product that prevents our Platform from determining a Price.
Product shall mean instrument generated by us upon which or in relation to which you enter into trades. Details of all products on which we may accept orders are listed in the marketwatch of MT5.
Sell Price refers to the Price at which a buy Product is initiated and a sell the product is assessed and terminated.
Settlement Price means opening or closing price of any spesific position. When any position is opened by investor, this position will have two different settlement prices at the opening and closing. These prices are requested by Customer via using MT5 platform and executed by system immediately.
Trades shall mean all positions and transactions opened by investor at a particular products provided by FTD Limited.
General Information
i. Once we confirm in writing that we have accepted your application to open an Account, the Agreement will become legally binding between you and us. You have the right to cancel the Agreement within fourteen (14) calendar days of this date by giving us notice in writing, except as stated in clause 5.1(ii). If you do provide a valid notice of cancellation, we will return any money that you have transferred to us. However, if you have entered into Trade or Countdowns during this period and they have been affected by fluctuations in the financial markets, you will not have the right to cancel the Agreement within fourteen (14) calendar days of your Account opening. You may still close your Trade and your Account as per the Agreement.
ii. We have the authority, at our sole discretion, to change the type of your Account and/or enable or disable (as appropriate) Account features.
iii. The Products available may vary depending on the Account type and/or feature. Each product is specifically described in the Customer Agreement and this Agreement (with its annexes). On the Platform, you can also find product instructions and descriptions.
Account Setup Procedure
i. We may use the information you provide on your application form to make any additional inquiries about you that we (in our sole discretion) believe are reasonable or required given the circumstances. Every relevant circumstance that could have an impact on your trading operations with FTD Limited should be disclosed to us. We reserve the right to conduct any further examinations or routine reviews that, in our sole discretion, the situation necessitates or warrants. You must cooperate with us and provide any information we request promptly.
ii. We depend on the accuracy and truthfulness of the information you provide us during the Account opening process or at any other time. Unless you inform us otherwise in writing, we assume that the information is always correct and not misleading. We utilize any available information about you to evaluate whether investing in Products and/or maintaining an Account with us is suitable for you. If there are any changes to the details provided during the Account opening process or if your circumstances change afterward, please notify us promptly in writing.
iii. You accept and agree that we or agents operating on our behalf may do regular searches and inquiries about you and any linked party at credit reference agencies and your employers, if applicable, and examine any current and historical investment activity and gather information in connection therewith and provide information to other dealers, or investment managers who may be interested in you or your investments. This is done to assess your creditworthiness, manage credit risk, and prevent fraud (or other criminal behavior).
5.3 Appointment of Authorised Person(s) / Representative
i. If you intended to designate someone to represent you in relation to this Agreement (referred to as an "Authorised Person"), you must inform us in writing. Both you and the Authorised Person will be required to complete any additional documentation that we reasonably request. We may ask for evidence to confirm that the Authorised Person has the necessary authority and suitability to act on your behalf.
ii. We have the right to revoke or decline the appointment of an Authorised Person if we have knowledge or reasonable suspicion that their appointment could result in a violation of the Agreement and/or Applicable Law. If there are any changes to the appointment or authority of any Authorised Person, you must promptly notify us in writing.
iii. We are entitled to act upon instructions or Orders received from any Authorised Person or any person who appears or claims to be an Authorised Person regarding your Account, even if it is later discovered that they were not actually authorised.
iv. However, we are not obligated to accept any instructions or Orders from an Authorised Person if we have reasonable grounds to believe that the person is exceeding their authority. Any actions taken by an Authorised Person appointed by you, or anyone who appears or claims to be an Authorised Person, will be treated as if they were taken by you. Similarly, any information provided by us to an Authorised Person or anyone who appears or claims to be an Authorised Person will be considered as if it was provided to you.
v. If you appoint an Authorised Person who also represents other Customers of FTD Limited, that person may decide to place a combined order with us for a Product and allocate the order among you and their other Customers. We are not responsible for the aggregation and allocation of such orders, and you should consult your Authorised Person for further details regarding any order aggregation or allocation.
5.4 Joint Account
i. If you open a joint account;
a) The joint account shall be opened with the written determination of the proportional shares of the joint account holders at the beginning of the Account opening process.
b) The term "you" in this Agreement refers to any other person whose name appears on the Joint Account. We have the right to enforce any rights or obligations outlined in this Agreement against any person named on the Joint Account, or who reasonably appears or purports to be named on the account.
c) All Joint Account Holders share joint and several liability for any financial obligations that arise from the Joint Account. This means that any money owed to us relating to the Agreement will be owed in full by all persons named on the Joint Account.
d) In the event of the death of any Joint Account Holder, the Joint Account will be closed, and the balance will be divided equally between the surviving Joint Account Holder and the estate of the deceased Joint Account Holder. This will be considered a Specified Event.
e) We may communicate any notice or communication to any or all persons named on the Joint Account, and any communication or notice given to one person will be deemed as having been given to all Joint Account Holders.
f) Once a Joint Account has been established, it is not possible to add or remove persons named on the account. If you need to change Joint Account Holders, you must close the Joint Account and open a new one.
5.5 Security of Account
i. You are responsible for keeping each Username and Password provided to you secretly and ensuring that they are only used by the people or system for whom they were intended. You
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will be held liable for any misuse or abuse of any such Username and Password, and you shall follow any reasonable instructions we may offer you from time to time regarding any such Username and Password. You shall instantly notify us if you feel that the security or functioning of any Username and Password or Online Systems has been compromised.
Rules for Money Transferred to Us
i. If you have been categorized as a Retail Customer according to the applicable laws, we will keep and maintain an amount equal to your Account Value in a segregated Customer money bank account for each Account you have with us. If we consider it is appropriate, we may, at times and within our regulatory permissions, retain Customer money in segregated Customer money bank accounts with fixed-term deposits or notice periods. Such fixed term deposit accounts or notice periods will not affect your ability to deal with or withdraw your money in the ordinary course of business. In exceptional situations, it is possible that the extended notice period may cause a delay in returning all or a portion of your funds to you until the relevant fixed term or notice period expires.
ii. If you have been categorized as a Professional Customer or Eligible Counterparty by considering the Applicable Laws, we would require a mutual agreement that releases us from the obligation of keeping received funds in a segregated Customer money bank account. By signing the Account Opening Application Form, you agree to be bound by this Terms of Business, and you have read, understood, and agree to the terms and conditions specified following:
a) any amounts received from you or credited to your Account will become our full property and ownership;
b) deposits made to us should be intended for securing or covering your present, future, actual, contingent, or prospective obligations to us;
c) such deposits do not qualify as Customer money under Applicable Law, and we may use them in our regular business activities; and
d) in the unfortunate event of our insolvency, you will be reimbursed.
iii. On each Business Day, we complete Customer money reconciliations based on our reports from the close of business of the previous Business Day to establish the correct amount of money which should be held and segregated in our Customer money bank accounts in accordance with Applicable Law. Following the reconciliation any required transfer to or from the Customer money bank account in respect of your Account will then be processed.
iv. In case of prolonged inactivity on your Account, we reserve the right to apply dormant Account fees and deduct them from your Account as per the clause.
v. If there hasn't been any action on your account for the last 5 years, we will make an effort to contact you regarding any Customer money that is still in there. If no activity is conducted within the specified period in the account, this situation can be reported to the regulator, and necessary actions will be taken in accordance with the instructions received from the regulator.
vi. Trading with money that was mistakenly placed or credited to your Account is at your own risk, and we are not liable for any resulting loss or damage. We have the authority to deduct such funds from your Account without prior notice or your consent, as we see fit and at our sole discretion.
vii. We have the sole authority to determine the interest rate, payment method, and duration for which your Account may earn interest, if eligible. Where applicable, you agree not to rely on the payment of interest to prevent an Account Close-Out, satisfy any Margin Requirements, or set off any payment obligation that you may have under this Agreement.
viii. Trading with us incurs charges, which are detailed on our website, in our cost disclosure, on our platform, and in our terms. We have the right to amend or waive these fees at our discretion and without prior notification to you. We may utilize the funds in your account to minimize the amount of holding charges payable.
6.2 Payment and Withdrawal
i. You are required by the Agreement to make sure that any payments to us are made on time and in accordance with the terms of the Agreement. Any payment that does not follow our payment policies, which are available on our Platform or through our Customer management team upon request, will be refused by us.
ii. It is advisable to leave some "headroom" when paying us during potentially volatile times, such as maintaining an Account Revaluation Amount greater than your total Margin requirements or the applicable Close-Out Level on any Account and having enough funds above your Margin requirements. The market volatility for the underlying asset, the time it takes to make additional payments of cleared funds, your Positions, CFD Margin Trades, Countdowns, Pending Orders, and any other pertinent elements should be taken into account.
iii. Only when our systems have verified the payment and it has been posted on our Platform payments made by you or any Authorized Persons on your behalf will be credited to your
Account. We cannot guarantee how long this process will take, and we will not be held responsible for any losses brought on by delays in crediting any payment to your Account.
iv. All costs and fees, including bank transfer fees, internet and telephone service provider fees, and any other costs that might not be incurred by us, are your responsibility when making any payment to your Account. In accordance with the Applicable Law, we may apply an administration fee to process payments made through a payment card or withdrawals from an Account.
v. Up to the lowest of your Available Equity or Cash, you may request a withdrawal from your account. On request, you can get more information about how to make these withdrawals from our Customer management team or through our website.
vi. Unless we have agreed differently, we will only accept withdrawal requests from you or specific Authorized Persons to comply with Applicable Law. Except in cases where we have approved a modification to your payment information or you have designated a specific Authorized Person to receive the cash, withdrawals will only be made to accounts that are registered in your name.
vii. We may in our reasonable discretion refuse or delay giving effect to your request for a withdrawal of money (in whole or in part) from your Account, including as a result of any request to close that Account under clause 14.2(i). We will notify you as soon as reasonably practicable if we decide to refuse or delay giving effect to your request for a withdrawal and such circumstance shall be regarded as a Specified Event.
6.3 Deduction, Right to Set-Off, and Netting
i. We reserve the right to make a deduction by taking money out of the funds in your Account that is payable to us by the Agreement or as required by Applicable Law.
ii. We reserve the right, without prior notice, to set off any positive cash balances in your account with us or our associates, as well as any money due to you by us, to offset any outstanding payments you owe us or our associates. A Currency Conversion Rate may also be used to convert any relevant cash balances or due amounts into the same currency.
iii. If, in relation to a specific account,
a) You and we owe each other an equal amount of money in the same currency, both our obligations will be automatically fulfilled and terminated, or
b) You and we owe each other different amounts of money in the same currency, the person who owes more may pay the difference to the other party, resulting in the fulfillment and discharge of both our obligations.
6.4 Currency
i. You must choose the Account Currency when opening an account from the alternatives we provide, and all payments made in connection with that account must be made in the chosen Account Currency.
6.5 Taxes
i. In the event that we are obligated to settle any withholding tax or other levies on your behalf, we retain the right to deduct such amounts from your Account or request payment or reimbursement from you for these payments. Regarding any Countdown, we will bear the responsibility for the payment of any relevant betting duty or levy.
ii. We hold the authority, at our sole discretion, to deduct or withhold any tax required by Applicable Law from any payment or credit issued to your Account. The tax treatment regarding your CFD Margin Trades and/or Countdowns may vary depending on your circumstances. It is advisable to seek independent professional advice to understand your specific tax obligations in this regard.
iii. All charges will be inclusive of any applicable value added taxes or similar consumption taxes.
6.6 Introduced Business
i. This provision applies if a third party, such as an introducing broker or money manager, has introduced you to us, and you have agreed with that third party to pay fees, commission, or other compensation ("Third Party Fees") for the introduction and related services provided by the third party. We will inform you in advance of the effective date of this provision, and it will come into effect on the specified date.
ii. By entering into this Agreement, you authorize us to disclose information about you and your Account, including personal data and Account activity, to the third party mentioned in clause
6.6(i), as well as to the affiliates and subcontractors of that third party, as necessary for the provision of services to you.
iii. By entering into this Agreement with us, you authorize us to deduct any Third-Party Fees owed by you to the third party from the funds held in your Account and make the payment to the third party on your behalf. We will notify you in advance of the method for calculating these deductions.
iv. Any deductions made will include all applicable taxes, duties, or levies, regardless of their designation or calculation, including value added taxes or similar taxes.
v. It is your responsibility to ensure that there are sufficient funds in your Account to cover any Third Party Fees owed to the third party in full.
vi. We reserve the right to cease facilitating the payment of, or making deductions for, the Third Party Fees at any time without prior notice to you. In such cases, any outstanding Third Party Fees must be resolved directly between you and the third party.
vii. You have the option to withdraw or modify the authorization given to us under this provision to facilitate or make deductions for the Third Party Fees on your behalf. To do so, you must provide us with written notice at least one (1) Business Day in advance.
7.1 Platform Rules
i. Our Platform offers various information related to your Account, including real-time updates on the execution of Orders, notifications regarding changes in the value of Product, and current statements of your Positions and Account balance as required by law. It is your responsibility to regularly access and review this information to ensure accuracy.
ii. It is your responsibility to regularly access and review the information set out in clause 7.1(i) to ensure that it corresponds with your own records. Subject to clause 7.3, this information will be conclusive unless we notify you of any mistake, error or inaccuracy or you notify us in writing of any mistake, error or inaccuracy and we agree with your notification.
iii. We are required to retain certain information for a specific period as required by law, and you may access this information through our Platform or upon request. After this period, we may choose to retain or destroy this information at our discretion without notice.
iv. We will make every effort to have our Platform and Customer management team available for you as needed, but we cannot assure the uninterrupted availability. We are not accountable to you for any losses resulting from unavailability of Platform and Customer management team.
v. It is your responsibility to ensure that you can access our Platform when required. This entails having a device that can connect to our Platform, maintaining it in a safe, secure, and working condition, and having dependable internet connectivity.
vi. If you are unable to access our Platform directly, you can contact our Customer management team via telephone or email for assistance, but this may take longer than direct access, and we cannot ensure their availability.
vii. Any links to third-party websites and resources provided on our Platform, Website, emails, or any other content generated by us are only for your information, and we do not take responsibility for them or any resulting losses or damages.
7.2 External Platforms
i. The following additional provisions apply to Customers utilizing our external platforms, including but not limited to MT5 platform (the “External Platform”). If you utilize the External Platform, you acknowledge and agree to the following additional terms and conditions and authorize us to act.
ii. You wish to utilize the External Platform to execute trades and to direct trade orders and trade details to us. When you are utilizing the External Platform you will not be entering trade orders and trade details directly with us but rather will be entering trade orders and trade details via the External Platform through a third party. You hereby authorise and direct us to enter trades for your Account in accordance with trading signals generated and sent to us by the External Platform.
iii. You fully understand that trade orders and trade details are generated by the External Platform and not by us and that our responsibility is to use commercially reasonable efforts to enter orders pursuant to the trade orders and trade details generated by the External Platform as received by us. You confirm that we have not solicited, or in any other way recommended your participation on the External Platform. You have made your own inquiries and conducted research into the External Platform sufficient to make an informed investment decision. We cannot imply or guarantee that you will make any profits from the External Platform, and you agree that we will not be held responsible in any way for the External Platform’s performance, or any trading losses incurred on your Account as a result of trading pursuant to the External Platform.
iv. We will enter trade orders for your Account in accordance with the trade orders and trade details generated by the External Platform. You understand that your trading access through the External Platform will be provided by the External Platform provided and not us.
v. We shall not be responsible for any error or malfunction of the External Platform, mechanical or communication failure, systems errors, data failure, or any other causes beyond our control. You acknowledge that we can accept and execute orders only if they are actually received or generated.
vi. You understand that there is no trading system or recommendations service, including the External Platform that is free from risk of loss. We therefore do not imply or in any way guarantee that you will make a profit and you agree that neither we nor any of our Associates, officers, directors, employees, consultants, agents or Affiliates will be held responsible for the performance of the External Platform or trading losses on your Account.
vii. We may terminate the authorization over the External Platform at any time for any reason in our sole discretion and will provide you with notice of this as soon as reasonably possible. You shall be responsible for any Open Positions in your Account at the time the External Platform is terminated. You shall permit for us to execute offsetting order for any open position in your Account at the time this External Platform is terminated, or your termination of this Agreement.
viii. You agree that in the absence of gross negligence, willful default or fraud, neither we, nor any of our Associates, officers, directors, employees, consultants, agents or Affiliates will be held liable for any act or omission in the course of or in connection with your participating in the External Platform. You shall indemnify us, our principals, officers, directors, employees, agents, successors and/or assignees from all loses and/or liability (including reasonable attorney’s and or accountant’s fees) incurred or resulting from this authority granted to us under this provision, to utilise the External Platform, provided that there has been no judicial determination that such liability was the result of gross negligence, willful default or fraud by us, and further provided that the conduct that was the basis for such liability was not undertaken in the actual or reasonable belief that it was in your best interest.
7.3 Orders
i. You shall be completely liable to us for the settlement of any Transaction emanating from any Orders submitted on your behalf via Platform and/or External Platform.
ii. We reserve the right to modify, cancel, or reject your orders and may refuse to accept instructions or allow trading on your account at our discretion. Additionally, for Manual Products, you must go through our Customer management team to place, modify, roll over, cancel, or close orders. You cannot perform these actions on Manual Products through the Platform. To enter an Order for a Manual Product, you must contact our Customer management team and provide the necessary information. The Order will be executed by the Customer management team.
7.4 Error
i. Occasionally, errors and omissions (referred to as an "Error") may occur with your all Trades. These Errors may include but are not limited to, a Pricing Error, incorrect deductions or credits to your Account, incorrect Order handling, or the Platform displaying incorrect Prices due to a third-party supplier or system error.
ii. If you or we suspect or become aware of an Error, you must notify us or we will notify you as soon as reasonably practicable. We will then investigate the matter to determine the cause and whether an Error has been occurred. In the event that an Error is confirmed, this will be considered a Specified Event and the relevant provisions of the clause 10 will apply. We will inform you of any actions we may have taken or may take in accordance with clause 10.3.
8.1 Assurances
i. Under this Agreement, when we provide services to you, we have the right to rely on the following statements and assurances, confirmed by you to be accurate and truthful:
a) Your use of our Platform and/or services does not involve any Improper Use;
b) If you are an individual, you are at least 18 years old unless the relevant regulations your country establish a higher age limit;
c) If you are a body corporate, unincorporated association, trust or partnership, you are lawfully in existence in accordance with the Applicable Law, and you have obtained all necessary consents and authorizations under your constitutional or organizational documents;
d) Unless we have agreed otherwise in writing, you act on your own behalf and not as an agent, attorney, trustee or representative of any other person;
e) You are not located in, incorporated in, or a resident of the USA or any other jurisdiction where accessing our Platform or engaging in Products, (as applicable) may be unlawful;
f) Your Orders and/or Products are not for the purposes of or related to any placing, issue, distribution, offer, take-over, merger, or other similar corporate finance type transaction;
g) You have no connection with the issuer of any underlying asset of a Product in respect of which you have placed an Order, including as a director, employee, agent, contractor or professional adviser of such issuer;
h) Subject to clause 8.1(i)(d), you fully own or, in the case of money received from an accepted joint bank account jointly own (legally and beneficially) all money you maytransfer to us in accordance with the Agreement, including money received from an accepted joint bank account;
8.2 Your Obligations
i. If you have a belief or reasonable grounds to suspect that you have violated any provision of the Agreement, it is essential to promptly notify us in writing.
ii. You will bear responsibility for any losses and/or expenses incurred by us as a direct consequence or as something that a reasonable individual would anticipate as a likely outcome, due to your or an Authorised Person's negligence, fraudulent actions, or breaches of the Agreement or Applicable Law.
8.3 Our Liability and Limitations
i. Nothing in the Agreement excludes or limits our liability for any matter that cannot be excluded or limited under Applicable Law.
ii. We shall not be held accountable for any losses incurred under the following circumstances:
a) Our adherence to Applicable Law or the Agreement, or the exercise of our rights in accordance with them.
b) Instances where the loss is a result of your negligence, fraudulent activities, or breaches of the Agreement or Applicable Law.
c) Occurrences classified as Specified Events or Circumstances Outside Our Control.
d) Errors arising from unclear or ambiguous instructions provided by you or an Authorised Person when placing an Order.
e) Delayed payments or errors in calculating and/or facilitating payment of Third Party Fees owed to a third party.
iii. We shall not be held liable for any loss, except in cases where such loss arises directly and solely from our negligence or breach of the Agreement. In such instances, our liability will be limited to direct and verifiable losses resulting from our negligence or breach of the Agreement. It is important to note that we will not be held liable for any loss of profit or missed opportunities, regardless of the circumstances.
iv. We will only be held liable for direct and actual loss resulting from our negligence or breach of the Agreement, but not for any loss of profit or opportunity. We also cannot be held responsible for delays, delivery failures, or transmission failures resulting from data transfer over networks outside our control.
v. We provide any features, market data, or third-party content available on our Website, Platform, or e-mails "as is" and "if available." We, along with our third-party providers, have taken reasonable measures to ensure their accuracy and completeness, but we exclude any warranties, undertakings, or representations (whether express or implied) related to them to the extent permitted by Applicable Law. This includes but is not limited to the following:
vi. In regard to any third-party market data, similar information, features, or information provided to you through our Website, Platform, and/or services:
a) We and our third-party providers are not providing trading or investment advice.
b) We and our third-party providers are not liable if any market data, feature, or information is inadequate, inaccurate, or incomplete in any respect.
c) We and our third-party providers do not guarantee the timeliness of market data or similar information.
d) We and our third-party providers are not responsible for any actions you take or do not take based on any market data, feature, or information.
e) We provide market data or similar information for general purposes only, and it should not be the sole basis for any investment decision.
f) You will use market data, features, or information solely in compliance with Applicable Law
g) The information contained in the features or third-party content is indicative and may be outdated at any given time. All analyses, resulting conclusions, and observations are based on past performance, patterns, and data and may not reflect future performance.
h) Our third-party providers are not accountable for and have not been involved in setting our prices. They also disclaim all warranties, promises, or assurances (whether explicit or implied) regarding your usage of our Platform, Website, or Elements. It's important to note that our third-party providers cannot be held responsible for any losses incurred, even if they are aware of the situation and the liability is based on a breach of contract, tort, or any other legal theory.
i) Unless we have acted negligently, intentionally or engaged in fraudulent activity, we will not be held responsible for any harm or loss resulting from the transmission of viruses, distributed denial-of-service attacks or other harmful technological material that could potentially infect your computer equipment, data, software, or any other proprietary material due to your use of our Platform or Website or your downloading of any material from our Website or any linked websites.
j) Unless otherwise explicitly stated in these Terms, we bear no responsibility for reminding or notifying you of any obligations or liabilities that you may have under this Agreement. Any reminders or alerts that we do provide to you are at our sole discretion and do not create any obligation or commitment on our part to continue providing such reminders or alerts in the future.
i. The Agreement and all communication pertaining to it will be conducted in English. By acknowledging this, you confirm that you possess sufficient knowledge and comprehensive understanding of the English language. The Platform, along with its features and information, will be available in English as the default language. However, you may have the option to choose another language for the Platform, its features, and information. It is crucial to note that you should only select an alternative language if you possess adequate knowledge and a complete understanding of that particular language. If you decide to opt for another language, you do so entirely at your own risk.
ii. You provide consent for us to communicate with you through our Platform or any system operated by FTD Limited that we offer you periodically. These communications may occur via email, by posting information on our website, or through other methods agreed upon in writing. Additionally, you authorize us to contact you via letter, telephone, SMS, or email to discuss matters regarding your Account or to notify you of any operational changes to our Platform. Please be aware that we may record all such communications.
iii. If the Agreement specifies the need for written communication from you, you have the option to send us an email from the email address linked to your Account to…………….., contact us through our Application (if applicable), or send us a letter by postal mail.
10.1. Margin Arrangements: You agree to transfer to us such sums by way of margin (“Margin”) as determined pursuant to Annex 2 (Margining). Margin requirements may be set and varied from time to time at our discretion without prior notice to you including without limitation subsequent variation of any Margin rates set at the time that a Transaction is opened.
10.2. Form of Margin: Unless otherwise agreed, Margin must be paid in cash. The currency of the cash Margin you pay to us shall be the currency of the relevant underlying Transaction (if applicable) or as we may in our discretion reasonably decide from time to time. As specified in Section 10.1 (Title Transfer of Funds), cash Margin is paid to us as an outright transfer of title, 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. You are always required to maintain in your Account sufficient Funds to meet all Margin requirements.
10.3. Margin Call: We are not under an obligation to keep you informed of your Account balance and the Margin required as it is your responsibility to monitor any shortfalls. However, we may at any time notify you, that unless you deposit into your Account(s) such additional Margin to meet our Margin requirements, we may liquidate any or all Open Positions without further notice to you (“Margin Call”).
Once issued, you must immediately comply in full of the Margin Call by way of cleared, same day funds regardless of any currency value fluctuations and irrespective of any recovery in the market value of the subject Open Positions. You may not increase or establish any new Open Positions while any Margin Call remains unsatisfied. Notwithstanding the aforementioned, we are not obliged to make any Margin Call to you or within any specific time period.
10.4. If you receive a Margin Call from us, it may be made at any time by telephone, telephone answering machine message, voice mail, letter, email, FTD Online Systems and/or External Platforms or any other means of electronic communication. Therefore, you must notify us immediately and provide alternate contact details to ensure that Margin Calls can be made if you will not be contactable at your usual contact details provided. Where we do make a Margin Call to you, in no way does this waive our rights to liquidate your Transactions as stipulated in Sections 10.6 and 10.7.
10.5. Margin does not represent the total extent of your financial liability to us as you are liable for all losses in respect of any Transaction and any other costs or payments due under this Agreement. Furthermore, you acknowledge and agree that any waiver of Margin or failure to make a Margin Call cannot be relied upon, or treated as, an act, omission, or representation as to the current value of any of your Open Positions with us.
10.6. Close-out: In the event there is insufficient Margin on your Account or if the deposited Margin is not sufficient to satisfy the required Margin, as determined by us and in accordance with Section 10.1 (Margin Arrangements), we may at our sole discretion choose to close or terminate any or all your Open Positions immediately without notice to you.
10.7. As specified in Section 11.1 (Specified Events) and without prejudice to our rights pursuant to Section 10.3 (Margin Call) and Section 10.6 (Close-out) to liquidate, close or terminate your Open Positions immediately without notice:
10.7.1. your failure to comply with a Margin Call will constitute a Specified Event after the expiry of the applicable grace period; and/or
10.7.2. the entry into any Transaction with you which results in there being insufficient Margin to cover any actual or anticipated losses or liabilities in connection with your Account will constitute a Specified Event and we may at our discretion exercise our right in Section 11.1 (Specified Events), regardless of whether or not there has been a Margin Call.
10.8. Non-Cash Margin: Where we agree to accept non-cash collateral, it must be in a form acceptable to us. The value of the non-cash collateral and the proportion of that value to be considered for Margin purposes shall be determined by us in our absolute discretion.
10.9. Set-off on Default: If there is a Specified Event or this Agreement terminates, we may set-off the balance of cash Margin owed by us to you against your obligations (as reasonably valued by us) to us or to any of our Associates.
10.10. Security Interest: As a continuing security for the performance of the Secured Obligations under or pursuant to this Agreement, you grant to us, with full title guarantee, a first fixed security interest in all non-cash Margin now or in the future provided by you to us or to our order or under our direction or control or that of a Market or otherwise standing to the credit of your Account under this Agreement or otherwise held by us or our Associates or our nominees on your behalf.
10.11. Further Assurance: You agree to execute such further documents and to take such further steps as we may reasonably require perfecting our Security Interest over, be registered as owner of or obtain legal title to the Margin, secure further the Secured Obligations, enable us to exercise our rights or to satisfy any Market requirements.
10.12. Substitution: You may not withdraw or substitute any property subject to our Security Interest without our consent.
10.13. Negative Pledge: You undertake neither to create nor to have outstanding any Security Interest whatsoever, nor to agree to assign or transfer, any of the cash or non-cash Margin transferred to us, except a lien routinely imposed on all securities in a clearing system in which such securities may be held.
10.14. Power to Charge: You agree that we may, to the extent that any of the Margin constitutes “financial collateral” and this Agreement and your obligations hereunder constitute a “security financial collateral arrangement” (in each case as defined in, and for the purposes of, the Financial Collateral Arrangements (No. 2) Regulations 2003 (SI 2003 No. 3226)) (the “Regulations”), free of any adverse interest of yours or any other person, grant a security interest over margin provided by you to cover any of our obligations to an intermediate broker or Market, including obligations owed by virtue of the positions held by us or another of our customers.
10.15. Power of Sale: If a Specified Event occurs, we may exercise the power to sell all or part of the Margin. The restrictions contained in Sections 93 and 10 of the Law of Property Act 1925 shall not apply to this Agreement or to any exercise by us of our rights to consolidate mortgages or our power of sale. We shall be entitled to apply the proceeds of sale or other disposal in paying the costs of such sale or other disposal towards satisfaction of the Secured Obligations.
10.16. Power of Appropriation: To the extent that any of the Margin constitutes “financial collateral” and this Agreement and your obligations hereunder constitute a “security financial collateral arrangement” under the Regulations, we shall have the right to appropriate all or any part of such financial collateral in or towards discharge of the Secured Obligations. For this purpose, you agree that the value of such financial collateral so appropriated shall be the amount of the Margin, together with any accrued but un-posted interest, at the time the right of the appropriation is exercised. The parties further agree that the method of valuation provided for in this Agreement shall constitute a commercially reasonable method of valuation for the purpose of the Regulations.
10.17. General Lien: In addition, and without prejudice to any rights to which we may be entitled under this Agreement or any Applicable Regulations, we shall have a general lien on all property held by us or our Associates or our nominees on your behalf until the satisfaction of the Secured Obligations.
11.1 Specified Event
In case a Specified Event happens, is likely to happen, or we become aware of it, we reserve the right to take a Reserved Action, subject to it being fair and reasonable in the circumstances (see clause 8.3 and 10.3). A Specified Event includes situations such as (not limited):
a) You or any authorized person appointed by you are found guilty or at fault in any criminal proceedings or relevant investigation carried out by the appropriate authorities in any jurisdiction, involving dishonesty, financial crime, terrorist financing, or a similar offense.
b) You are subjected to an Insolvency Event.
c) You are an individual who dies, becomes of unsound mind, or your capacity relevant to the Agreement is impaired in any way.
d) You breach any term of the Agreement, including but not limited to Improper Use.
e) You fail to make any payment due to us under the Agreement or any other agreement in place between you and us or our associates.
f) Any of the declarations and assurances provided by you pursuant to clause 8.1 and 8.2 of these Terms become incorrect or misleading in any material respect, as determined by us.
g) An Error occurs.
h) Any other circumstance exists where we reasonably believe that it is necessary or desirable to protect you or us, including any breach or potential breach by you of Applicable Law or the Agreement or where you do not respond as reasonably required to any notice, communication or request for further information from us in relation to your Account.
11.2 Circumstances Outside Our Control
i. If any Circumstance Outside Our Control causes us to fail to perform our obligations under the Agreement, it will not be considered a breach of the Agreement.
ii. If we determine that a Circumstance Outside Our Control exists, we will inform you of it as soon as reasonably practicable and in accordance with Applicable Law. We will make every effort to resume our provision of our Platform, services, and/or performance of our obligations under the Agreement as soon as reasonably possible. We may take an appropriate Reserved Action and/or take action in relation to any Pricing Error.
iii. Where we can resume providing our Platform, services, and/or performance of our other obligations under the Agreement following a Circumstance Outside Our Control:
a) The value of any Trade held immediately before the Circumstance Outside Our Control that remains open will be determined by the Price as at the time we can resume our provision of our Platform and/or services.
b) We may act on any instructions to transmit any Order in relation to a Product received immediately before the Circumstance Outside Our Control, provided it is possible to do so.
c) You are responsible for reinstating or cancelling any Orders affected by a Circumstance Outside Our Control.
11.3 Reserved Actions
i. In the event that it is required by Applicable Law, or if there is a Specified Event or Circumstance Outside Our Control that has occurred or is reasonably expected to occur, or if we have valid reasons to do so, we reserve the right to take any action that is deemed fair and reasonable under the circumstances. These actions, referred to as Reserved Actions, may include:
a) Opening, combining, correcting, or closing any Trade, closing Countdowns, canceling or suspending any Orders on an Account.
b) Prohibiting your access to or usage of an Account.
c) Suspending, limiting, or restricting your ability to place Orders, any Trade or Countdowns, or declining to execute any instructions received from you regarding an Account.
d) Refusing or delaying the processing of your withdrawal request for funds from your Account.
e) Modifying Margins, spreads between Buy and Sell Prices for a Product, Attributes, Prices, and Rates, including those relevant to your Trades and/or Orders.
f) Canceling any Trades or Countdowns (as if they had never been initiated) and its impact on your Account.
g) Conducting Roll-Overs.
h) Imposing special terms for any Order, Trade, or Countdown that we consider abnormal based on the relevant Product's size, volatility, or liquidity.
i) Closing an Account, designating an Account as unauthorized to trade, or setting an Account to reduce only.
j) Exercising rights of Set-Off, making Deductions or credits, or applying interest under the Agreement or Applicable Law.
k) Retaining any outstanding amounts owed by you to us or any of our Associates.
l) Temporarily suspending the generation and/or quotation of Prices and/or execution of Orders for any Product on our Platform.
m) Removing any Product from our Platform and/or restricting your ability to place any Trade or Countdowns on a specific Product within an Account.
n) If you have been classified as a Professional Customer or an Eligible Counterparty, completely restricting or removing any additional services from your Account, either temporarily or permanently.
12.1 Data Protection
i. This Agreement describes how we will handle any personal information you disclose to us, together with our Privacy and Security Policy, which is available on our website. You will be giving us personal information when you apply for an Account or communicate with us in any other way. This information may be kept in paper or electronic form. We understand the significance of handling this data correctly and appropriately in line with data protection laws as the data controller.
ii. Data that can be used to identify you, such as your name, address, phone number, email, and financial information, is referred to as personal data. Information on a person's ethnicity, political views, religious convictions, trade union membership, health, and sexual preferences is referred to as sensitive personal data.
iii. In order to perform this Agreement, to comply with legal requirements, or when we have a legitimate interest, we may only process your personal data with your consent. Sensitive personal data will only be processed when one of the requirements outlined in data protection laws is satisfied.
iv. Upon completion of the application and entering into the Agreement, you provide your consent to us for processing your personal data (including sensitive personal data), which we will use for various purposes such as assessing your application, administration of the Platform, administering the relationship between you and us, carrying out our obligations under the Agreement, assessing our operational and financial risk to you, improving the Website and/or Platform and developing our products and services, providing third-party market data or similar information to you, seeking legal advice, dealing with auditors and other professional advisers, creating anonymized statistical data, Customer profiling (including but not limited to targeting advertisements and creating lookalike audiences), and disclosing your personal data to any authority as required by law.
v. We reserve the right to share your personal information with our associates, subcontractors, and service providers who handle your personal data on our behalf, as well as any joint account holders, authorized persons, introducing brokers, money managers, or other third-party intermediaries that we have mutually agreed to and accepted. We may also use yourpersonal information for marketing purposes following your preferences; for the aforementioned reasons, we may transfer, store, and process your information. In each case, we will ensure that your information is handled securely and in accordance with this Agreement and applicable data protection laws.
vi. You have the right to seek access to the information we have about you, and where permitted by law, we may charge a fee for this service. Additionally, we reserve the right to document any correspondence you have with us, including emails, chat messages, and phone calls. These recordings may be utilized for training, complaint investigations, or as proof in court cases. All phone conversations will be recorded and kept on file for the time frame required by law. If needed by law, we may also provide government entities with your information, including personal information that is shielded by data protection laws. Finally, you agree to maintain the privacy of any information pertaining to your account, including emails, letters, and promotions.
Intellectual Property
i. All Elements are wholly owned by us or our licensors. You have no rights, titles, or interests in our Platform, Website, or Elements unless otherwise stated in the Agreement.
ii. By the terms of the Agreement, we do provide you with a personal, non-exclusive, non-commercial, revocable, and non-transferable license to access and use our platform and website. There are no additional rights you may have in connection with our platform or website. We may immediately terminate this license and the Agreement without further notice, and you will no longer have any rights to our Platform, Website, or Elements if we determine that you have violated any of the prohibited actions listed in clause 11.2(iii) or if we have good reason to believe that you have done so.
iii. According to the Agreement, you are strictly prohibited from engaging in various actions concerning our Platform, Website, and the Elements, unless expressly allowed. Specifically, you must not copy, reproduce, modify, reverse engineer, distribute, sell, make commercial use of, or develop a hyperlink or other weblink to our Platform or Website without our written consent. You must also refrain from downloading or copying any account information other than for personal use or when required by an official body, and must not use any data collection tools, software viruses, or other similar technologies that may harm or disable our Platform or any of the Elements. Additionally, you must not attempt to gain unauthorized access to our Platform or any of its servers or engage in any activity that we may consider improper use.
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iv. Any breach of these conditions may lead to immediate termination of the Agreement, and we reserve the right to take further action. Furthermore, we may conduct an audit of your use of market data and other information provided on the Platform to ensure compliance with the Agreement, and you are required to cooperate fully with us in this regard.
13.1 Outsourcing
i. External service providers may be used for company operations, including Associates or third parties, in accordance with applicable laws.
13.2 Validity
i. If any provision of the Agreement becomes illegal, invalid, or unenforceable under the law of any jurisdiction, all other provisions of the Agreement will remain valid and enforceable.
13.3 Transfer or delegation of rights and obligations
i. You may not transfer your rights or delegate your obligations under the Agreement without our prior written consent. You may not grant any use or benefit of any right to any person (including an Authorised Person or Joint Account Holder)
ii. Under the Agreement, you are not allowed to grant anyone (including an authorized person) the use or benefit of any rights, including the right to money held by the company (whether by mortgage, charge, or otherwise).
iii. In accordance with Applicable Law, we have the option to transfer or delegate any of our rights and/or obligations under the Agreement to another party, including the transfer of any Customer money balance held on your behalf. We will make reasonable efforts to provide you with a notice period of at least thirty (30) calendar days before such transfer or delegation takes place. However, we reserve the right to carry out the transfer or delegation immediately, in which case we will notify you as soon as reasonably possible. When we transfer or delegate our rights or obligations to another party, we may share with them any relevant information about you that they may reasonably require.
13.4 Rights, Remedies, Delay or Inaction
i. The rights and remedies available under the Agreement are in addition to those provided by applicable laws.
ii. Delay or failure to exercise a particular right or action under the Agreement or applicable laws does not prevent the right from being exercised later.
iii. Except for Associates, third parties are not entitled to enforce any terms of the Agreement, but the company's claims against the customer can be assigned to third parties.
13.5 Governing Law and Dispute Resolution
i. The Agreement is governed by the laws of British Virgin Island that any disputes arising from it are subject to the jurisdiction of the courts of British Virgin Islands but the company may take legal action in other jurisdictions if permitted by applicable laws.
i. Unless we have agreed otherwise, any amendments to the Agreement that we notify you of will take effect on the date mentioned in our notice, which will be no later than ten (10) Business Days after we provide the notice to you. Nevertheless, if the changes are required to comply with Applicable Law or if you have explicitly consented to the changes in writing at our request, we may provide you fewer than ten (10) Business Days' notice. If you do not agree to the modifications, you may close your Account and/or terminate the Agreement in accordance with article 14.2 before the modifications become effective.
15.1 Breaching of the Agreement
i. Any breach of these conditions may lead to immediate termination of the Agreement, and we reserve the right to take further action. Furthermore, we may conduct an audit of your use of market data and other information provided on the Platform to ensure compliance with the Agreement, and you are required to cooperate fully with us in this regard.
15.2 Closing your Account or terminating the Agreement
i. If you are a Retail Customer, you can close your Account through our Platform or by giving us written notice through the predetermined communication channels. The closure will usually take effect within one (1) Business Day after we receive the notice. If you are a Professional Customer, you can close your Account by giving us written notice, provided that we haven't given you notice designating an Early Termination Date. The closure will usually take effect within one (1) Business Day after we receive the notice. If you don't cancel any Pending Orders, close any position regarding any Product on the Account, or withdraw any money due to you before giving us the notice of termination, we will cancel any Pending Orders and close any position regarding any Product as soon as possible after we receive your notice. Then, we will attempt to return any money due to you, but there may be a delay in doing so.
ii. We may close your Account by giving you written notice. Unless specified otherwise in the notice, the closure will take effect on the date specified in the notice, which will be no less than ten (10) Business Days after the date of the notice. If you receive notice of closure, you will have time to cancel any Pending Orders and/or close any Trades before the Account is due to close. If you don't do this or it's not possible to give you notice, we will cancel anyPending Orders and close any Trades on the Account. Then, we will attempt to return any money due to you.
iii. We may terminate the Agreement with less than ten (10) Business Days' notice, including immediately, if we have serious grounds or valid reasons for doing so. If this happens, we will cancel any Pending Orders or set your Account to Reduce Only or Unauthorised to Trade and close any Trades on the Account in the manner specified in the notice.
iv. Unless we have agreed otherwise, the Agreement will automatically terminate when all of your Accounts are closed by you or us. When an Account or the Agreement is closed, we may exercise any right we have under clause 6.3 to make a Deduction or to Set-Off.