Blitz Trade Point as the Company, 1 John Doe Ave,
offers
access to its web page and use related services by any individual or corporate entity
(hereinafter referred to as the Client)
according to the procedure and on the terms and conditions described in this Agreement.
The Agreement becomes effective as of the date when the Client opened a trading account and
transferred funds to the Company’s account(s) to ensure minimum trading deposit.
1. Payment Procedures
1.1. Client shall fund his trading account within 90 calendar days from the date of its
opening
in an amount not less than define terms for the type of account (minimum initial deposit).
1.2. The Company has the right to close/cancel an account with the balance less than 1 cent
(one-hundredth of a US dollar), if the above account balance existed for more than 90
calendar
days.
1.3. Client may request withdrawal of funds from his trading account in the amount not used
to
cover the margin, but not more than current balance. , provided that all positions of the
Client
are closed, all sums due to the Company have
been paid.
1.4. Client places a funds withdrawal order using the Company website’s interface. Company is
not
responsible for any third party access to the Client personal information and withdrawal
orders.
Once an order has been received, the withdrawal
amount may be deducted from the Client’s trading account.
1.5. In some cases, and considering that third parties, i.e., payment service providers, are
involved in funds transfer, e.g., payment institutions, banks, card processing schemes etc.,
fund transfer may take up to five banking days after
receiving a Client’s order. The security service of the company has the right to hold the
order
up to 10 business days, previously having notified the Client.
1.6. The Client will be given the Company’s banking details to transfer funds to his trading
account via the Company’s website, or may place an account funding order in electronic
(placed
using the Company website’s interface) or written
form.
1.7. When funding his account, the Client shall use the Company’s current banking or
electronic
wallet details, received at the Company’s website only and effective on the payment date.
Current banking details mean details received within
24 (twenty four) hours prior to payment. The Company cannot be held responsible for the
funds
which the Client transferred using banking details different from current, and does not
offer
investigation and refund of Client’s payment
and cannot credit these funds to Client’s trading balance. Trading deposit funding orders
may be
issued, and current banking details may be received in the appropriate section of trader’s
web
entry on the payment day.
1.8. The Client agrees to pay Deposit/withdrawal fees, i.e.,to pay any banking or money
transfer
fees associated with any transfer, settlement or movement of funds or assets on the Client’s
behalf.
1.9.When the trading account balance is funded using online payment systems, Client may order
withdrawal only to the same payment system which he has used to fund his trading account in
the
corresponding currency or it's equivalent. Trading
profit may be withdrawn to any of the payment systems (up to a Client’s wish).
1.10. When the trading account balance is funded using direct bank transfer, funds will be
credited within 1 working day (after the transfer was actually credited to Company account).
The
minimum funding amount is 5000 (EUR or USD). Clients
who fund their account using direct bank transfer may order withdrawal only to the account
from
which the payment was done. An upfront bank transfer fee 50 USD will be applied (for
international bank transfer).
1.11. Company reserves the right to reject a request for withdrawal in case of an explicit
intention to exchange customer funds from one payment system to another.
1.12. Account balance funding using a third person credit card is prohibited.
1.13. If case of funding by using Visa/Mastercard, withdrawals can be done via bank transfer,
or
by using a specially issued Master card, sent to client by ordered mail.
2. Customer and Company Responsibilities
2.1. Client is notified and agrees that the Company cannot be held liable for Client’s
actions or
inactions during conversion operations. Responsibility for trading account monitoring is the
Client’s duty.
2.2. Company reserves the right to amend this Agreement notifying the Client about it at
least 2
business days prior to the effective date of these amendments. Posting the relevant
information
on the main page of the www..com
website for the period of at least 3 days is also considered as notification. The Client
undertakes to consult and review regularly the www..com
website to be
timely
informed about any changes in respect of this Agreement
and the Services in particular.
2.3. All rights and obligations of the Company and the Client represent a long-term
commitment,
which remains in force up until the Company receives a Client’s notice of termination of
this
Agreement or closing his trading account.
2.4. Company cannot be held responsible for non-fulfilment of any obligations involving
quality
of online communication of information to the Client terminal or use of information,
software,
and interfaces of websites which do not belong
to the Company.
2.5. Client realizes that any market recommendations and information communicated to the
Client
by the Company, its representatives, or third parties do not constitute as an offer to make
operation/transaction.
2.6. Client realizes that
a) any payments which Client makes using the banking details received earlier than 24 hours
prior
to the payment execution time or not at the appropriate sections of the Company website,
which
differ from the Company’s current banking
details do not entail the Company’s liability or obligations concerning investigation,
refund or
credit of this payment to the Client’s trading balance.
b) any actions committed by the Client or third parties (by Client’s fault or with Client’s
participation), which destabilize the Company’s business or performance of the Company’s
services, equipment, or software may result in the Company’s
refusal (on the basis of private law) of servicing the Client’s current trading account and
cancellation of all trading orders, with full refund of the remaining deposit. Company must
notify the Client about the reasons for the above
decision. Company also may reject such Client’s new registration in the future.
2.7. Persons under 18 years or under the age of majority, which is legally allowed to
participate
in financial trading, can not use the services of the Website.
2.8. The Client declares and guarantees that:
- he is sane,
- his age is minimum 18 years old,
- information which Client provided to the Company is true and correct,
- he shall notify the Company about any and all changes in this information within one day
after
the change took place,
- the e-mail address used by the Client is not in use by anyone else. Any and all notices,
requests, complaints, and information received from this address are considered as sent by
the
Client.
2.9. Company may request from Client a confirmation of accuracy of the personal account data
for
a due diligence and in the event of a withdrawal request. Company may request a notarized
copy
of the Client’s ID and the document proving
his place of residence. Inability to provide requested documents may result in the Company’s
refusal (on the basis of private law) of servicing the Client’s current trading account and
cancellation of all trading orders, with full
refund of the remaining deposit. Company must notify the Client about the reasons for the
above
decision. Company also may reject such Client’s new registration in the future.
2.10. Client agrees to provide all documents and notices, notarize documents, and take all
other
actions which the Company may request in accordance with the Anti Money Laundering Policy
2.11. In case of double registration of the same Client, the Company has the right to cancel
duplicated registrations, cancel opened positions and withdrawal requests. All duplicated
accounts will be frozen for investigation purposes.
3. Customer risk notice
3.1. Client understands that the risk of suffering trading losses may be quite significant.
Client should analyze his financial capabilities before engaging in trading operations.
3.2. Client realizes that he may completely lose his all initial funds and any additional
funds
used when trading on the market.
3.3. Client agrees that the company cannot be held responsible for Client’s losses caused,
directly or indirectly, by the government restrictions, restrictions of foreign exchange or
market rules, suspension of trading, military operations,
or other conditions usually called the ‘force majeure circumstances’ which lie beyond the
company’s control.
3.4. Client was informed about additional risks associated with the specifics of functioning
of
e-trade systems and the problems of Internet communication nodes.
3.5. Client bears full responsibility for the risks associated with the storage of trading
account access data, and must ensure that third parties cannot access the trade terminals.
Client’s losses and risks associated with the restoration
of access to the trading account imposes no obligations on the Company, other than to
provide
new access data to the Client after identification procedure.
4. Terms of transactions
4.1. Trade is executed at prices offered to the Client, which are shown in the window of
Clients’
trading terminal.
4.2. Company may decline the Clients’ request to open a new position, if the balance on his
trading account is not sufficient to place a minimal trade.
4.3. Company may suspend its operations or revise client’s trades for the following reasons:
failures on part of Internet access providers, failures in information flows, hacker
attacks,
and other illegal actions against the Company’s
servers and equipment, force majeure circumstances, and suspension of trading on financial
markets which concerns financial instruments used by the Company.
4.4. Company may revise (change) an executed trade upon discovery of software malfunction
within
5 trading sessions after malfunction was discovered. In this case, Client will be provided
by a
market prices history from at least 2 independent
quotes sources.
4.5. The Company has the right to cancel Clients’ trading orders and reject service
provision, if
fraud attempts were done in order to make profit using particularities of trading conditions
and
trading equipment, including registrations
in affiliate programs with a purpose of getting an extra
profit from
trading
activity, where trading account holder and affiliate account holder is the same person, or
trading account and affiliate account is operated
by the same person.
4.6. Under certain trading conditions, the Client should note that it may be impossible to
execute an Order at their requested price. In such cases the Company reserves the right to
execute the Order at the first available price. Such
instances may occur during times of high market volatility and price fluctuations e.g. when
the
price of an asset rises or falls in one trading session to such an extent that, under the
rules
of the relevant exchange, trading is suspended
or restricted.In the event that the Company is unable to proceed with an Order in relation
to
price or size or any reason, the Order will be executed at the first available price or not
executed at all. In addition, please note, that
the Company is entitled, at any time and at its discretion, without giving any notice or
explanation to the Client, to decline or refuse to transmit or arrange for the execution of
any
Order or request of the Client in circumstances
explained in the Terms & Conditions.The Company does not accept any orders outside of the
market
hours of the relevant underlying financial instrument.
5. Disputes, complaints and inquiries
5.1. The parties will try to settle all disputes by negotiation. The Company may accept
Client’s
complaints for review, if these complaints were expressed in writing and received within
three
calendar days after the dispute occurrence
date.
5.2. Client’s inquiries will be considered as official and treated, if these inquiries were
placed and received by the Company via the Company’s website interface, by e-mail sent to
the
addresses of the Company’s corresponding services,
or by regular mail. Inquiries placed using online communication programs, such as Skype or
similar, cannot be considered as official.
5.3. The Company will review Client’s complaints within ten business days after receiving
from
the Client all necessary and sufficient information which concerns this complaint.
5.4. In the event of disagreements concerning Client’s operations or the state of his trading
account, the parties will review the protocols of Client’s operations using Company’s data.
5.5. If the Client will breach any of the above paragraphs, the Company reserves the right to
restrict the Client access to its services and make a refund of the Client’s available
deposit.
Termination of service and refund of the deposit
will come into effect upon expiration of 5 banking days after the Client was sent a notice
by
e-mail provided at the time of registration of trading account.
5.6. In case of failure to reach an agreement through negotiations and correspondence within
3
(three) months from the date of the initiation of a dispute its further consideration will
be
directed towards the justifiability in accordance
with the laws of the Republic of Seychelles.
6. Know your customer
6.1. The Company has the right to request the customer to confirm his identity and
information
provided upon registration. At any time Client can be asked to provide an electronic copy,
certified copy or notarized copy of a passport (at
the discretion of the Company).
6.2. If the Client has not received a request to provide the documents, the procedure of
enhanced
verification is not mandatory, but the Client can voluntarily send a copy of the passport or
other proof of identity.
6.3. In the case customer registration data (name, address or telephone number) have changed,
the
customer shall immediately notify the Company’s customer service asking to change the data.
6.4. All withdrawal requests should be processed to the same account, from where trading
deposit
was initially transferred.
6.5. Customer acknowledges that the registration data, referred to him for opening an account
can
be used by the Company in the fight against money laundering.
6.6. Customer is responsible for the authenticity of submitted documents (copies) and
recognizes
the right of the Company, in case of doubt about their authenticity, to contact authorities
of
the issuer of the document to verify its authenticity
and if it detects a falsification of the document, Company has the right to place an account
on
hold and conduct an investigation.
7. Communicating with Clients
7.1. The Company may communicate with the Client by using:
- E-mail address provided by the Client
- Phone number provided by the Client
- Postal address provided by the Client
- Company Web site www..com
The Company will use the details specified by the customer provided upon registration. Client
must immediately notify the Company of any changes in contact information.
7.2. Any correspondence (documents, announcements, notifications, confirmations, reports,
etc.)
will be considered as received by the Client:
- after one hour after sending to Client’s e-mail address
- Immediately after sending the internal mail in the trading platform
- Immediately after the telephone conversation with the Client
- After one day after placing announcement in the Company Web site.
8. Termination of the agreement
8.1. Following agreement becomes effective as of its acceptance by the Client.
8.2. This agreement will be terminated if following occurs:
- In the case of expression of the wish by one of the parties to terminate this Agreement;
- In case of breach by the Client the terms specified in the Agreement, the Company may
terminate
this Agreement unilaterally by notifying the customer of such termination and returning to
Client remaining funds from his/her trading account
at the time of termination. Also, company reserves the rights to cancel all trading orders
previously done by the Client.
8.3. If the Company terminates the activities under this Agreement:
- Company warns the Client one month prior to such termination;
- The Company pays the Client the Client’s funds, which are on the account at the time of
activity termination, as quickly as possible.
8.4. In case of death of the Client:
- The right to demand withdrawal of funds from the Client’s trading account transferred to
the
heirs;
- The right to use trading account and the right to conduct operations in the financial
markets
by heirs is not transmitted.
8.5. Customer agrees that the Company reserves the right at its sole discretion, suspend or
discontinue all or part of the Client’s access the services by an appropriate notice by
means of
communication. In this case, this Agreement shall
be terminated and Company terminates providing services to the Client.
9. Anti-Money Laundering Procedure
No person shall abuse this site for the purpose of money laundering.
may employ
best-practice anti-money laundering (AML) procedures.
reserves the
right to
refuse to do business with, to discontinue to do business
with, and to reverse the transactions of, clients who do not accept or conform to the
following
AML requirements and policies:
• Clients must provide all requested information upon registration.
• Funds will only be paid to the individual who initially registered to open a live account
and
specifically only to the originating credit card or account on file
• When a client maintains an account by means of telegraphic deposits, funds will only be
distributed to the holder of the originating bank account. When making deposits in this
manner,
it is the responsibility of the Client to ensure
that the client’s account number and registered name of the account owner accompany all
transfers to .
• When a client transfer funds to the account by means of credit/debit card deposits, funds
will
only be distributed to the individual whose name appears on the card used to make the
deposit
and only be paid back to the same card.
• Only one account is allowed per person. No funds may be collected on accounts opened in
false
names or on multiple accounts opened by the same person.
• may, from time to time, at its sole discretion, require
a client to
provide
additional proof of identity such as notarized copy of passport or other means of identity
verification as it deems required under the circumstances
and may at its sole discretion suspend an account with cancelling of all previously done
trading
orders, until such proof has been provided to its satisfaction.
Any suspicious or fraudulent transactions will be immediately reported to the relevant
authorities.
10. Referral Program Policy
10.1. To refer customers, the Referrer must use a special referral link, which is located on
the
Referrals section on the website.
10.2. Referral fee for each deposit of the referred client is fixed on 20% of the deposit
amount
after all payment system fees. Example: Referral has funded trading account with $ 1000
(after
fees of the payment system) and the Referrer
receives a commission of $ 200.
10.3. A Referrer can only attract real customers using any marketing methods, except for SPAM
mailings and other prohibited methods.
10.4. The Company has the right to cancel the commissions and block the Referrer's account in
case of malicious violation of the rules of the Referral Program.
10.5. The Referrer has the right to claim a commission for attracting a client only if the
client
has proven activity with a binary options trading turnover of at least 100% of the deposit.
10.6. If the client withdraws more than 50% of the deposit, the Company has the right to
cancel
the commission for the referred client.
10.7. A Referrer has no right to open a trading account in his own name using his link and
receive commissions for this.
11. Bonus Policy
offers a number of attractive reward features to its new
and
subsisting
clients. Bonuses and one time trading credits awarded to clients are part of ’s
promotional programmes. These bonuses are limited time offers
and the terms and conditions associated with bonus rewards are subject to change.
reserves the right to refuse, cancel or change the bonus
at any time
without
any prior notice. Any indication of fraud, manipulation, cash-back arbitrage or other forms
of
deceitful or fraudulent activity based on the provision
of the bonus will render the account inactive along with any and all profits or losses
garnered.
Bonuses are optional and client is not required to take a bonus. During initial deposit,
client
may send a request to .com" class=""
data-cfemail_d_d="bbc8cecbcbd4c9cffbf9d2d5dac9c2d8ded5cf95d8d4d6">support@.com
to accept no bonus and therefore is exempt to any conditions pertaining to bonuses, however
the
rest of the terms in this Agreement still apply. Should client mistakenly accept a bonus,
client
must notify customer support within 3
working days, and must place no trades. In such an instance, will
remove bonus
from client account and client shall not be held to the terms relating to bonuses, however
all
terms and conditions will still apply.
To receive the bonus after the initial deposit is processed, the client has to contact .com" class=""
data-cfemail_d_d="ed9e989d9d829f99ad8f84838c9f948e888399c38e8280">support@.com,
request
an eligible bonus, and place no trades before the bonus is granted. In such an instance,
Broker
will add the bonus to client's account and the client shall be held to the terms relating to
bonuses, however, the rest of the terms in
this Agreement still apply.
12. Withdrawal Procedure and Fees
finance department handles all withdrawal requests
submitted. From
the time the
request is made, normally process each withdrawal
request within 1
hour.
However, in case of shortage of data on the client side,
or delays on third-party side, the processing time may be longer.
The finance team will determine the method of withdrawal.
Client
cannot request
to change a withdrawal method. All funds must be returned to the source of the original
deposit.
However, in some cases, this may not be possible
(such as in cases where the original deposit source was a MasterCard). ’s
finance department will venture to find the optimal method of processing clients withdrawal.
Identification is required for all withdrawals, regardless of the withdrawal amount. If the
account is initially funded by credit or debit card, or is at any point funded using a
credit or
debit card, will require a copy
of the front and back of the credit card used, hiding sensitive authentication data, a
government issued photo ID (such as a drivers license or passport) and a 3-months recent
proof
of address (such a bank statement or utility bill),
if needed. Mobile phone bills and other general mail will not satisfy this requirement. If
the
account has been funded using multiple credit or debit
cards, the
finance department will require copies of
all cards used before a withdrawal is approved.
Investors are required to pay a 10% withdrawal fees for any profits above 35,000 USD
Notwithstanding the above, if the withdrawal amount and/or the cumulative withdrawal amount,
is
or exceeds $1,800 or €1,800, no funds shall be transferred until the client’s identity, and
age
have been verified.
If the account is initially funded by wire transfer, or is at any point funded by wire
transfer,
a copy of the bank statement from the originating account showing the transfer will be
required.
Should the name on the bank statement differ
from the person named on the account, further
documentation showing
the
connection between the user and the bank account will be required.
If the account is funded by an e-wallet (such as Qiwi), the client will be required to submit
a
photo ID and proof of address (as described above) where the address of the document
submitted
matches that on the users account at .
When sending required documents, please follow these guidelines:
- Please always send colour copies, scans or photographs
- Please do not enlarge, shrink or otherwise manipulate the size of the subject matter
- When sending copies of cards, please conceal the middle 8 numbers on the card. Please
ensure
the first and last four digits are visible. Cards sent showing all digits will be deleted
immediately.
- When sending bank statements, please ensure the name and address information are visible,
as
well as the transfer sent to the company. You should then conceal all other information.
If the withdrawal amount, or cumulative withdrawal amount on the account, exceeds €1,800 or
$1,800 (depending on account currency), ’s finance
department will
require
certified copies of all identification documents, regardless
of whether uncertified copies have previously been submitted.
Documents must be certified as true original copies by a notary public, or at the post
office.
No withdrawals will be processed until such time as the
finance
department has
obtained all required identification and verified their authenticity. Once identification
has
been obtained once (or in the case of higher limit
withdrawals, twice), ID will not need to be provided again with the exception of if
additional
payment methods or cards are used to fund the account, in which case copies of further cards
or
bank statements will need to be provided.
Once the withdrawal has been approved, please allow an additional up to 5-6 working days for
the
funds to show in a client account. Please note that larger withdrawal amounts may take
additional time as they may be subject to fraud checks
by the processing and receiving banks. These additional checks are not performed by, or at
the
request of, and we do not have control over this
process.
Any withdrawal that must be completed by international wire transfer will be charged an
upfront
$50 transfer fee.
For funds, which were not active, i.e., with which Client has not made 1x turnover,
maintenance
fee of 20% on each of the withdrawal amounts apply, which shall be paid by the Client.
Withdrawals should be made using the same wallet address for deposit
13. Deposits
In order to fund a trading account at , client can do so
strictly by
Cryptocurrency
prohibited.
charges no fees to the client to deposit using any
approved deposit
method.
offers a No Refund policy service.
Please also note that some card issuers may charge a fee to make a deposit into your
account. Please check the terms and conditions of your
card, or call
your
issuer directly, if you think your issuer or bank may charge you
a fee. Any charges issued by the bank or issuer must be disputed directly with them, as
has no say or input on these fees.
Once a deposit request via bank transfer is submitted, it can take up
to 3
business days to process the request and verify the funds have been received.
A deposit request via credit, debit card or via e-wallets into a trading account will be
processed within 3 hours. From time to time, issuing banks may place security blocks on
cards –
clients may need to call their bank to have these
blocks removed.
The trader can impose self-deposit limits by contacting the support
team via
email .com" class=""
data-cfemail_d="6a1a0b13070f041e192a2803040b1813090f041e4409050744">support@.com
14. Fees and Charges
The amount that is displayed as client “Payout” is free from fees. Accordingly, the “Payout”
amount will be the exact amount credited into your trading account.
Client may access all records of transactions on line at no charge.
There is no charge to open or maintain an account at .
However, if the
client
fails to transact at least one trade in any calendar month, an account service fee of $10
per
month will be levied.
In the case that no transaction has been recorded on a trader’s account for twelve months,
may remit the balance in that account to the client.
In order for a client to claim funds from a dormant account, closed, blocked or excluded
account,
one must contact by email on .com" class=""
data-cfemail_d="611100180c040f15122123080f00131802040f154f020e0c">support@.com
Client expressly authorise to collect any account fees
due and owing
pursuant
to these terms and conditions by debiting the client credit card on file, or by debited the
client’s trading account.
15. “First 3 risk free trades” service
If the total of the first three transactions is negative, broker will compensate the loss in
the
form of bonus, and bonus rules will apply. Compensation of risk-free trades can not exceed
the
amount of the initial deposit. To use this
service, you need to apply for it in advance. Please contact .com" class=""
data-cfemail_d_d="04626d6a656a676144666d6a65767d67616a702a676b69">support@.com
or your account manager, if available,
and negotiate details. Risk free trades must be requested via the financial department only
and
can not be requested through online chat.
16. Cancellation Policy
reserves the right in its sole discretion, to refuse or
cancel
services, and/or
refuse to distribute profits to any person for legitimate reasons, including, without
limitation:
if has reason to believe that a person’s activities on
the Site may
be illegal;
if may be harmed by any fiscal or pecuniary damage due to
anyone’s
activities;
if consider that one or more operations on the Site were
made in
violation of
this Agreement;
if client has failed to provide with the Know Your Client
(KYC)
documents.
Client can request cancellation of service at any time, in case if there are no trading
positions
opened. If trading positions are opened, client has to close it or wait till expiration .
All
withdrawal requests has to be treated based
on standard withdrawal conditions, described in paragraph 1.
Terminology
Trade – purchase of the CFD.
CFD – object of trade based on a change in a price of an asset in a specified period of time.
Financial instruments – available for trading CFD types as currencies, indexes, stocks,
commodities.
Opened position – purchased CFD under influence of a market risk.
DueDiligence – set of procedures to identify the Client and verify his personal information.
Equity – current account state, calculated by formula: balance + floatingprofit —
floatingloss.
Balance – amount on the Clients or brokers trading account, not counting floatingprofit or
floatingloss.
Rollover feature determines the time period of trade's extension time according to the
market's
volatility. Rollover feature extending trade expiration time for 100% of chosen time for the
first usage. Every next usage of the Rollover
feature for the same trade will bring additional 30% of extra time for this trade. Such
conditions were implemented on the platform in order to avoid fraudulent activity with this
feature.
In the Agreement any reference to an individual person shall include corporate entities,
unincorporated associations, partnerships and individuals.
Headings and notes in the Agreement are for reference only and shall not affect the contents
and
interpretation of the Agreement.
In the Agreement references to any law shall include references to any statutory modification
or
re-enactment thereof or to any regulation or order made under such law, statute or enactment
(or
under such a modification or re-enactment).
17. Terms for trading CFDs
Price: The price for a given contract is calculated by reference to the
price of
the relevant underlying financial instrument. For any given CFD, the Company will quote two
prices: the higher price (ASK) at which the Client
can buy (go long) that CFD, and the lower price (BID) at which the Client can sell (go
short)
that CFD. Collectively, the ASK and BID prices are referred to as the Company’s prices
and
can be found on the Company’s trading
platform.
The difference between the lower and the higher price of a given CFD is the spread.
Prices will be obtained from reputable third-party price feeders and provided by the Company.
Prices are updated frequently as the limitations of technology and communication links
allow.
The Company ensures that the Client will receive the best price by guaranteeing that the
calculation of the quoted prices is made with reference and compared to a range of
underlying
price providers and data sources. The Company additionally
ensures to monitor its Execution Venue(s) on an ongoing basis and review their performance
at
least annually to confirm that relevant and competitive pricing is offered.
Please note that despite taking reasonable steps to obtaining best possible results for
Clients,
the Company is unable to guarantee, when executing orders, that the prices offered will be
more
favourable that prices that might be available
elsewhere.
Under certain trading conditions, the Client should note that it may be impossible to execute
an
Order at their requested price. In such cases the Company reserves the right to execute the
Order at the first available price. Such instances
may occur during times of high market volatility and price fluctuations e.g. when the price
of
an asset rises or falls in one trading session to such an extent that, under the rules of
the
relevant exchange, trading is suspended or
restricted.
Costs: In most circumstances, a spread is applied. The spread is dynamic for
certain Financial Instruments, and may take into account such factors as liquidity in
external
markets for the underlying financial instrument
and competitive pricing. The Company reserves the right to charge the Client a swap fee (of
0.07% of the face value of the position) for keeping a position open overnight. This swap
fee
can be subject to changes in the future. The
swap fee is calculated as the rounded result of the following formula: ((23%)/360) + Libor
rate.
The Company reserves the right to charge a commission for opening an unleveraged
Cryptocurrency
CFD trading position which shall vary from 1% to 2.5% of the transaction. For leveraged CFD
cryptocurrency positions, the Company will charge
a commission fee of up to 5% of the transaction.
In certain circumstances (such as increased volatility or illiquidity in relation to the
underlying market concerned) the Company reserves the right to alter the spreads offered.
In other circumstances, clients may be charged overnight funding premiums.
The Company reserves the right to, at any time, apply such charges in the future with prior
notice to the Client. Such notice may be sent personally to the Client and/or posted on the
Company’s website in the section General Fees.
Should the Company at any period of time decide not to charge any costs, it shall not be
construed as a waiver of its rights to apply them in the future.
Speed of Execution: The Company strives to offer a high speed of execution
however, in certain circumstances, for example low internet speed or market volatility, the
quoted price may no longer be representative of the
underlying market price and may result in the Client placing his/her Order at a delay, this
may
result in orders being executed at a better or worse prevailing price offered by the
Company.
Likelihood of Execution: The Company arranges for the execution of Client
orders
with the Execution Venue, as such, execution may at times be difficult. The likelihood of
execution depends on the availability of the prices
of the Execution Venue(s). In some instances, it may not be possible to arrange an Order for
execution during abnormal market conditions. This can occur, but is not limited to, the
following examples: overnight, during news times,
the opening of trading sessions, volatile markets (where prices may move significantly up or
down and away from declared prices), where there is rapid price movement, where there is
insufficient liquidity for the execution of the specific
volume at the declared price or a force majeure event has occurred.
In the event that the Company is unable to proceed with an Order in relation to price or size
or
any reason, the Order will be executed at the first available price or not executed at all.
In
addition, please note, that the Company is
entitled, at any time and at its discretion, without giving any notice or explanation to the
Client, to decline or refuse to transmit or arrange for the execution of any Order or
request of
the Client in circumstances explained in
the Terms & Conditions.
The Company does not accept any orders outside of the market hours of the relevant underlying
financial instrument.
Likelihood of Settlement: The Company shall proceed to the settlement of all
transactions upon execution of such transactions. The CFDs offered by the Company do not
involve
the delivery of the underlying asset, so they
are not settled physically as there would be for example if the Client had bought Shares.
All
CFDs are cash settled.
The Company shall proceed with the settlement of all transactions upon the execution and/or
time
of expiration of the specific transaction.
Size of Order: All orders are placed in monetary values. The Client is able
to
place an order as long as they have enough balance in their trading account. The minimum
size of
an Order may be different for each type of
CFD, please refer to the Company’s trading platform for the value of the minimum size
of
an Order in each CFD, as well as the value of the maximum size of a single Order.
If the Client wishes to execute a large Order, in some cases the price may become less
favourable. The Company reserves the right to decline an Order in case the size of the Order
is
large and cannot be filled by the Company.
Market Impact: Some factors may rapidly affect the price of the underlying
instrument/product from which the Company’s quoted price is derived and may also
affect
other factors listed herein. The Company will take
all reasonable steps to obtain the best possible result for its Clients.
The Company does not consider the above list exhaustive and the order in which the above
factors
are presented shall not be taken as priority factor.
Different Types of CFDs: The Company offers the following types of CFDs on
its
platform:
- Forex: CFDs in currency pairs (FX)
- CFD stocks
- "Crypto": CFDs in Cryptocurrencies
Types of Orders: The Client may give instruction to execute or initiate a
trade
with the Company by way of:
- Market Order: whereby the Client gives instructions to immediately buy
or
sell at the best available price.
Execution Practices in CFDs
Slippage: You are warned that Slippage may occur when trading in CFDs.
Slippage
is the difference between the expected price of an Order, and the price the Order is
actually
executed at. In some situations, at the time
an Order is presented for execution, the specific price shown to the Client may not be
available; therefore, the Order will be executed close to or a number of pips away from the
Client’s requested price.
Slippage can occur at times of low liquidity or high volatility (e.g. after economic events
or
news announcements) and is a normal element of trading in CFDs.
Leverage (Multiplier): The use of the multiplier tool in CFD trading enables
the
client to trade in the markets and increase proportionally the returns of his/her invested
amount, in relation to the returns in the market.
However, the maximum loss a client can incur from a trade is limited to his/her original
investment amount meaning the remaining amount of his/her equity is secured. The Company
applies
a maximum multiplier of 1:100 for all clients
by default, in line with relevant legislation.
E.g. (for long positions with 1:50 multiplier): A trader decides to invest €1,000
(Investment Amount) on the upwards movement of EUR/USD. He/she also chooses to use a
multiplier
of 50 for this trade. After one day, the trader decides
to close the position. At that moment, the price of EUR/USD moved from 1.1532500 (opening
price)
to 1.158000 (closing price) or otherwise 0.41188%. The realised profit for the client will
be
€205.94 or otherwise 20.594%. To better
understand the calculations, the invested capital increased by the percentage move in the
market
multiplied by the multiplier (0.41188% x 50 = 20.594%).
(Closing Price / Opening Price -1) x Multiplier x Investment Amount = Profit/Loss
i.e. (1.158000 / 1.1532500 -1) x 50 x 1000 = 205.93973553 or €205.94
For short positions: i.e (1-closing price / opening
price) Multiplier Investment Amount = Profit/Loss.
Without the use of the multiplier tool the trader’s profit would have been 4.1187947106
or
€4.12.
In the opposite scenario, if the market had moved against his/her position, the realised
losses
would have been larger with the use of the multiplier compared to a position opened without
the
use of it. To demonstrate with the same example,
if the market had moved 1% down from the opening price of 1.1532500, because of the use of
the
multiplier tool, the invested capital will decrease by 50% (1% x 50).
i.e. 1% x 50 x 1000 = €500
Without the use of the multiplier tool, the trader’s losses would have been €10.
If the trader had used a lower multiplier both the profit and loss amount in the examples
above,
would have been smaller as well.
E.g. Using a multiplier of 20, the realised profit in the first example would be (1.158000 /
1.1532500 -1) x 20 x 1000 = 82.374 or €82.40 and 1% x 20 x €1,000 = €200 for
the
second example.
As it will be explained more in Maintenance Margin section the trader will never lose more
that
the investment amount of a position.
It should be noted that the Company may offer higher multipliers to clients it considers to
possess the necessary knowledge, experience and understanding of the high risks involved
with
trading with leverage. Leverage restrictions may
apply to certain instruments and/or jurisdictions.
Warning: Trading CFDs carries a high level of risk since the multiplier tool (leverage) can
work
both in your advantage and disadvantage. As a result, it may not be suitable for all
investors
because you may lose all your invested capital.
Maintenance Margin: The Maintenance Margin is the minimum amount of equity
in a
position required to maintain the open position. Should this amount fall below 5% of the
initial
investment, the Company will automatically
close the position.
E.g. Using the data from the previous example with €1,000 investment in EURUSD and using
a
multiplier of 50, the maintenance margin is calculated as 5% x €1,000 = €50.
Therefore, the maximum loss the trader can occur, before
their position is closed by the Company is 95% or €950 (If the trader has not already
closed the position themselves).
The price when the position will be closed by the Company, and only if the trader
hasn’t
decided to already close the position, is 1.131338. At this price, the remaining amount of
the
investment will have reached the maintenance
margin.
To better understand the calculations the return in the market when 95% of the investment
amount
will be lost is 1.9% on the downside since the position is long the EURUSD.
Maximum Loss / multiplier = return in market.
i.e. 95% / 50 = 1.9%*
For an opening price of 1.1532500, a 1.9% decline will cause the price to move to 1.131338.
Opening Price x (1 – return in market) = price when position will be closed.
i.e. 1.1532500 x (1-1.9%) = 1.131338
- In majority of situations, position will be automatically closed as soon as it declines
by
95%. It can happen that the position will be closed in a range between 95% and 100%,
such
situations can occur at times of low liquidity or
high volatility (e.g. after economic events or news announcements) and is a normal
element
of trading in CFDs.
In case of 100% loss, calculations will be like this:
Maximum Loss / multiplier = return in market
i.e. 100%/50 = 2%
For an opening price of 1.1532500, a 1.9% decline will cause the price to move to 1.130185
Opening Price x (1 – return in market) = price when position will be closed
i.e. 1.1532500 x (1-2%) = 1.130185
The Company assigns the following importance level to the Best Execution Factors:
|
Best Execution Factor
|
Level of Importance
|
|
Price
|
High
|
|
Costs
|
High
|
|
Speed of Execution
|
High
|
|
Likelihood of Execution
|
High
|
|
Likelihood of Settlement
|
Medium
|
|
Size of Order
|
Medium
|
|
Market Impact
|
Medium
|
Any participant with profits of $35,000 or more must obtain a "Withdrawal Permit" and Broker
License. This fee cannot be deducted from your account and you must pay 10% of the total
amount
in your trading account to generate your account certificates.
The financial services provided by this website carry a high level of risk and can result in
the
loss of all of your funds. You should never invest money that you cannot afford to lose.
Please
ensure you read our terms and conditions before
making any operation in our trading platform. Under no circumstances the company has any
liability to any person or entity for any loss or damage cause by operations on this
website.
The Website and Content may be available in multiple languages. The English version is the
original version and the only one binding on ; it shall
prevail on any
other
version in case of discrepancy. shall not
be responsible for any erroneous, inadequate, or misleading translations from the original
version into other languages.
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