Terms and Conditions
- Errante is a registered brand name of Errante Securities (Seychelles) Ltd, a Seychelles Investment Firm under registration number [8425493-1], regulated by the Seychelles Financial Services Authority (FSA) under license number [SD038]. Errante Securities (Seychelles) Ltd is governed by the Consolidated Securities Act, 2007 to 20th December 2018.
- The Company provides the Investment and Ancillary Services, as defined herein in section 6(hereinafter referred to as the “Services”) in accordance with the provisions of these Terms & Conditions (hereinafter referred to collectively with the Appendices as the “Agreement”) to the client, through its online electronic system (hereinafter referred to as the “Trading Platform”).
- The domain name www.errante.com (hereinafter the “Website”) is owned and operated by the Company. The Company reserves the right to register and/or operate other websites mainly for promotional and marketing purposes in languages other than English.
- The Agreement which is uploaded on the Website and available for all Clients, set out the business terms upon which the Company will offer the Services to the Client, the rights and obligations of the Company and the Client and shall govern the trading activity of the Client with the Company.
- The Company will offer the Services to the Client at the absolute discretion of the Company, in accordance with the requirements of the Agreement.
- It is understood that if a person is accepted as a Client of the Company, the Client and the Company shall be bound by the terms of this Agreement. Therefore, it is advisable for all individuals considering applying to become the Company’s Clients, to read carefully all the documents which form the Agreement and any other notices provided by the Company and make sure that they agree with them
- The Client declares to have read, understood and accepted all the information, conditions and requirements set out in this Agreement, including the Legal Documentation included in the Company’s Website, including without limitation, the “Risk Disclosure Statement” and “Order Execution Policy”.
2. Interpretation of Terms
- In this Agreement, except where the context otherwise requires, the following terms shall have the following meaning:
“Agreement” means the present Agreement,
including any Appendices attached herein, as amended or replaced, from time to
time and as these can be found on the Website under the Legal Documentation
Appendices” means the [please state the legal
documentation of the Company that will constitute an integral part of the Terms
& Conditions], as amended from time to time, and as can be found on the
“Ask” means the buying price of a financial instrument;
“Access Code” means the username and password given by the
Company to the Client for accessing the Trading Platform;
“Bid” means the selling price of a financial instrument;
“Balance” means the sum on the Client’s Trading Account after
the last transaction made within any period of time; deposits minus withdrawals
and realized profit & loss;
“Balance Currency” means the monetary unit
in which all balances, commission fees and payments of the Client’s Trading
Account are nominated and calculated;
“Base Currency” means the first currency in
“Client” means any natural or legal person, accepted by the
Company as its client, that has agreed to the present Agreement, as amended or
replace from time to time, and to whom Services will be provided by the Company
in accordance with the terms and conditions of this Agreement;
“Contract for Differences” (‘CFD’) means a tradeable contract entered into
between the Client and the Company, who exchange the difference in the value of
an instrument, as specified on the Trading Platform at the time of opening a
transaction, and the value of that instrument at the contract’s end;
“Contract Specifications” means each lot size, or each type of the Financial
Instruments offered by the Company as well as all necessary trading information
concerning spreads, margin requirements etc., as determined in the Website
and/or the Trading Platform;
“Durable Medium” means any instrument, which enables the Client to
store information addressed personally to the Client, in a way accessible for
future reference and for a period of time adequate for the purposes of the
information and which allows the unchanged reproductions of the information
“Equity” means the balance plus/minus any profit/loss that derives
from any open positions;
“Execution” means the execution of Client’s order(s) by the
Company acting as the Client’s counterparty as per the terms of this Agreement;
“Execution Venues” are the
locations (with or without a physical presence) such as regulated markets,
multilateral trading facilities, organized trading facilities, systematic
internalizes, market makers, liquidity providers or any other entity that
performs a similar function in a third country to the functions performed by
any of the foregoing. For the purpose of transmitting orders for execution, the
Company acts as an agent on behalf of the Client. In that respect, the
Company might disclose the client details to the execution venue in case of
disputes related to trading issues.
“Financial Instruments” means the Financial Instruments as per
Section 5 of this Agreement that are available for trading
with the Company;
“Investment and Ancillary
Services” means the investment services and
ancillary services as per Section 6 of this Agreement;
“Force Majeure” events shall include, without limitation, any
technical difficulties such as telecommunications failures or disruptions,
non-availability of the Website, e.g. due to maintenance downtime, declared or
imminent war, revolt, civil unrest, catastrophes of nature, statutory
provisions, measures taken by authorities, strikes, lock-outs, boycotts, or
blockades, notwithstanding that the Company is a party to the conflict and
including cases where only part of the Company’s functions are affected by such
“Inactive Trading Account” means any
Client’s Trading Account in which the Client did not open any position(s)
and/or close any position(s) and/or kept on hold any open position(s) for a
period of 3 months;
“KYC Documentation” means
documentation/evidence that represent the Client’s personal details in regards
to his/her identity and residence, including without limitation, the Client’s
passport and utility bill;
“Lot” means a unit measuring the transaction
amount, equalling to 100,000 of base currency (i.e. 1 lot = 100,000 of base
currency in the case of a CFD on currency pairs);
“Margin” means the necessary guarantee funds to open
positions, as determined in the contract specification;
“Margin Level” means the minimum amount of equity a Client needs
to maintain an open position which is calculated as Equity/ Margin;
“Market” means the market on which the Financial Instruments
are subject to and/or traded on, whether this market is organised/regulated or
not, irrespective of the market’s jurisdiction;
“Open Position” means the deal of purchase (sale) not covered by
the opposite sale (purchase) of the contract;
“Operating (Trading) Time” means the period within a business week, where the
trading terminal or platform of the Company provides the opportunity of trading
operations with financial instruments. The Company reserves the right to alter
this period as fit, upon notification to the Client;
“Order” means the request for the
“Party” or “Parties” means the
Company, or the Client referred to individually as a “Party” and collectively
as the “Parties”;
“Pending Order” means either a buy stop or sell stop or buy limit
or sell limit order;
“Power of Attorney” means the power to
authorize a third party to act on behalf of the Client in the specified
business relationship with the Company;
“Prices” means the prices offered to the Client for each
transaction which may be changed without prior notice;
“Registration Form” means the application form completed by the Client
to apply for the Company’s Services under this Agreement;
“Services” means the services to be offered
by the Company to the Client under this Agreement, as set out in Section 6of
“Spread” means the difference between the
purchase price Ask (rate) and the sale price Bid (rate) of the financial
instruments at the same moment;
“Stop Out Level” means such condition of
account when the open positions are forcedly closed by the Company at current
“Stop Loss” means a pending order that is
attached to an open position or another pending order for closing the position,
usually with a loss;
“Take Profit” means any pending order that
is attached to an open position or another pending order for closing the
position, usually with a profit;
“Trading Platform” means the electronic
mechanism operated and maintained by the Company, consisting of a trading
platform, computer devices, software, databases, telecommunication hardware,
programs and technical facilities, which facilitates trading activity of the
Client in Financial Instruments via the Client’s Trading Account;
“Trading Account(s)” means unique personified register (account) of all
the transactions/operations on the Trading Platform of the Company;
“Transaction” means any type of transaction
effected in the Client’s Trading Account, including but not limited to the
opening or closing of any offer to either Buy or Sell a Financial Instrument
effected in the Client’s trading account. The Company executes Clients’ orders
as the principal to the transaction, and is always the counterparty in the
“Underlying Asset” means the financial
instrument (e.g. stock, futures, commodity, currency, index) on which a
derivative’s price is based;
“Underlying Market” means the relevant market
where the Underlying Asset of a CFD is traded;
“Website” means the Company’s website at
www.errante.com or such other website(s) as the Company may maintain from
time to time.
- All references to the singular herein shall also mean the plural and vice versa unless the context otherwise requires;
- All references to the singular herein shall also mean the plural and vice versa unless the context otherwise requires;
- Words importing the masculine shall import the feminine and vice versa;
- Any reference to any act or regulation or Law shall be that act or regulation, or Law as amended, modified, supplemented, consolidated, re-enacted or replaced from time to time, all guidance noted, directives, statutory instruments, regulations or orders made pursuant to such and any statutory provision of which that statutory provision is a re-enactment, replacement or modification.
3. Client Application, Verification and Acceptance
- The Client submits its Registration Form with the Company, as this can be found on the Website, along with any details, documentation and evidence is required by the Company for its own internal checks or otherwise required by the applicable legislation in order for the Company to be able to verify the Client’s identity. Client might be requested to submit as well additional forms related to their account type and to the different countries regulatory systems.
- The Registration Form include general and specific documents that must be filled and signed or submitted by the Client to the Company, including the following:
- Proof of Identification: Colour copy of passport or ID
- Proof of Residency: Bank Statement, Utility Bills (shall be less than six (6) months old)
- The Client acknowledges and understands that the Company reserves the right to request additional supporting documentation and evidence from the Client, to allow it to comply with its legal obligations, including among others, its anti-money laundering obligations and hence, the Client agrees to comply with any such request for further information as the Company will reasonably require.
- It is further understood that the Company is entitled at its sole discretion to impose additional due diligence requirements to accept Clients residing in certain countries. Depending on the method of deposit, the Company reserves the right to request additional supporting documents so as to enable the Company to verify the beneficial owner of the account from which the funds have been sent.
- It is understood that the Company, under applicable law, is not required to accept a person as a Client until all documentation required by the Company have been received, properly and fully completed by the person and all internal checks have been satisfied. The Company is entitled to rely on the information the Client provides to us, unless we are aware or ought to be aware that such information is manifestly out of date, inaccurate or incomplete.
- The Client agrees and undertakes to:
- notify the Company of any changes to his/ her personal and/ or financial information by sending an email at [email protected]
- notify the Company of any changes to his/her contact details, including without limitation, his/her email, telephone number by sending an e-mail to [email protected]
- provide true and accurate data.
- The Agreement shall take effect and commence upon the receipt by the Client of a notice sent by the Company informing the Client that he/ she has been accepted as the Company’s Client and that a Client’s Trading Account has been opened for him/her. If the Client meets with the Company face to face to conclude the Agreement, then the Client acknowledges that the Agreement shall come into force and effect on signature date.
- The Agreement shall remain in force until terminated under Section 17.
- Applications in joint names are limited only
to investments that are to be settled by cash and only two persons are
allowed to be joint holders of such investments.
- The types of joint name holdings are as
- where both parties are 18 years old and above, the Company will only act on an instruction given jointly by both parties; and
- where one party is below 18 years (i.e. a minor), the Company will only act on an instruction given by the other Client (namely, the parent/guardian); and
- joint-alternate (both parties must be 18 years old and above), the Company can act on the instructions of either party subject to these terms and conditions.
- In respect of funds registered in joint names of a parent/ guardian with a minor, or after the minor’s 18thbirthday, the parent/guardian may request that the fund be transferred to the minor’s name. In the event of the death of the parent/guardian, no instructions may be accepted until the minor reaches 18 years of age. The Company shall be entitled but not obliged to act solely on the instructions of the aforesaid parent/guardian of the minor until the minor reaches 18 years of age. The Company shall not be liable for any demand, claim, suit and action whatsoever by the beneficiaries, executors and/ or administrators of the estate of the deceased parent/guardian.
5. Clients’ Funds and Financial Instruments
- It is understood that clients’ funds and financial instruments held by the Company as a part of its provision of Services constitute capital that is separate from the Company’s capital or that of other clients. Specifically, all clients’ funds and financial instruments are kept in special clients’ accounts held with banking institutions, denoted as “Clients’ accounts” and as such they cannot be used for any other purpose.
- The Company undertakes to keep appropriate accounting records relating to the financial instruments and money held by the Company on behalf of Clients. Such records related to each Account Holder may be recreated at any given time.
- The Client acknowledges and agrees that by accepting this Agreement, the Client authorizes the Company to make deposits and withdrawals from the bank account on the Client’s behalf, including withdrawals for the settlement of all transactions undertaken in accordance with any agreement and this Agreement and all amounts which are payable by or on behalf of the Client to the Company or to any other third person connected with the settlement of one or more transactions.
- The Company may from time to time set-off any amounts held on behalf of the Client against the Client’s obligations to the Company and/or amalgamate any accounts of the Client with the Company. Unless otherwise agreed in writing by the Company and the Client, such arrangement shall not give rise to rights or credit facilities.
- Subject to the Client fulfilling the obligations and requirements under this Agreement, the Company will provide to the Client brokerage services.
- The Company offers the above Services, as applicable, regarding CFDs on Currencies, Stocks, Metals, Indices and Commodities.
- It is understood that the Company reserves the right to offer the Financial Instrument or any Underlying Asset it considers appropriate. The Company shall carry out all transactions as provided in this Agreement on an execution-only basis, neither managing the account or advising the Client. The Website will be the primary means of presenting the Underlying Asset of which the Company will offer the Financial Instrument and the Contract Specifications for each of them. The Client acknowledges and agrees that the Company reserves the right to modify the contents of the Website at any time upon notice given to the Client under this Agreement.
- The Client acknowledges and agrees that the Company does not provide investment, tax or trading advice unless specified as such between the Client and the Company in a separate agreement. Our Services include “execution only” meaning that the Company will act on your instructions and will not advice you on any transaction, nor will we monitor your trading decisions to determine if they are appropriate for you or to help you avoid losses. Therefore, it is understood, that the Client is urged to obtain his/her own financial, legal, taxation and other professional advice.
7. Execution of Orders
- By accepting this Agreement, the Client accepts that he/ she has read and fully understood all provisions of this Agreement and related information/documentation, as this information is loaded on the Website which is public and available to all Clients.
- The Client acknowledges and agrees that all orders received by the Company are being transmitted for execution (called straight through processing or STP) directly to another entity called an Execution Venue. Therefore, the Company does not act as a counterparty of the Client in any given transaction but as broker or agent of the Client.
- It is understood by the Client, that the orders placed with the Company are not undertaken or executed on a regulated market or multi-lateral trading facility (MTF) but are executed on an Over the Counter (OTC) basis through the Company’s trading platform and, accordingly, the Client may be exposed to a greater risks. The Company may not be able to execute an order, or it may change the opening/closing price of an order in case of technical failure of the trading platform or the feed quotes received.
Client acknowledges and agrees that the Company may use various Execution
Venues and intermediaries (third-party brokers).
- The Company ensures that losses will never exceed the total available funds across the Clients’ Errante trading portfolio (negative balance protection).
- It is understood that for purposes of trading with the Company, the Client shall refer to the prices of the Company on the Platform. For more information on the relevant costs, kindly refer to our website.
- It is further understood that the quotes appearing on the Client’s terminal are based on the quotes from the Execution Venues or and intermediaries (third-party brokers) and are indicative quotes and hence the actual execution price may vary depending on the market conditions. For example, if there is high volatility in the underlying market the execution of the Order may change due to execution time and also the Client may ask for a price but get the first price that will be in the market and this may result in positive or negative Slippage for the Client.
- The Company’s operation time for trading: Monday to Friday from 00:00 to 24:00 (GMT+2). Non-working periods: Saturday 00:01 to Sunday 23:59 (GMT+2). Holidays will be announced through the Website and/or via email.
- The Client authorises the Company to rely and act in accordance with any order, which appears to have been placed, and has reasonably accepted as such by the Company, by the Client, without any further enquiry to the Client and any such orders shall be binding upon the Client.
- Under certain conditions, including without limitation, the case where the Trading Platform is not operational or technical problems are faced by the Client, accept instructions, via email to [email protected], via telephone or in person, provided that the Company is satisfied, at its full discretion, of the caller’s/Client’s identity and clarity of the instructions. Therefore, it is understood, that in case where an order is being received by the Company in any means other than through the Trading Platform, the order will be transmitted by the Company to the Trading Platform and processed as it was received through the Trading Platform.
- It is understood that any order(s) of the Client, once placed, cannot be revoked or amended, except where the Company can and shall allow the Client to revoke or amend the relevant order.
- The Company reserves the right to refuse the Client in the execution of transactions through the telephone line, if the actions of the Client are not clear and/or do not include the following operations: opening position, closing position, changing or removing orders.
- In the event of Force-Majeure, hacker attacks and other illegal actions against the Company’s server and/or systems and/ or a suspension of trade in the financial markets concerning financial instruments of the Company, the Company reserves the right to suspend, or close the Client’s positions and request the revision of the executed transactions.
- The Client is entitled to authorise a third party to give instructions and/ or place orders to the Company or to handle any other matters that concern this Agreement, provided that the Client has notified the Company in writing to [email protected], of exercising such a right and that this person is approved by the Company fulfilling all of the related Company’s specifications for this. It is further understood, that under such circumstances, the Company will continue accepting instructions and/or orders given by the person acting on behalf of the Client and the Client shall recognise such orders as valid and committing, unless the Company received a written notification from the Client stating the expressed termination of such person’s authorisation. Such written notification for the termination of the authorisation of the third party shall be received by the Company with at least 3 business days. As soon as it is received it shall have immediate effect (provided that is a business day).
- The transaction (opening or closing a position) is executed at the Bid/ Ask price offered to the Client. The Client chooses desirable operation and makes a request to receive a transaction confirmation by the Company. The transaction is executed at the prices the Client can see on the screen. Due to the high volatility of the markets during the confirmation process the price may change, and the Company has the right to offer the Client a new price. In the event the Company offers the Client a new price the Client can either accept the new price and execute the transaction or refuse the new price, thus cancel the execution of the transaction.
- The Client, using electronic access, can give only the following orders of trading character:
- OPEN – to Open a Position;
- CLOSE – to Close an Open Position;
- To add, remove, edit orders for Stop Loss, Take Profit, Buy Limit, Buy Stop, Sell Limit, and Sell Stop. Any other Orders are unavailable and are automatically rejected. The confirmed Open or Closed position cannot be cancelled by the Client.
- The Company shall not be held responsible or liable in the case of delays or other errors caused during the transmission of Orders via computer.
- The Company reserves the right to change the trading conditions on its Website at any time. Therefore, the Client agrees and undertakes to check the relevant trading conditions and the full specifications of the Financial Instrument(s) before placing any Order. Moreover, the Company is entitled, for risk management purposes, to reduce the Client’s Trading Account leverage at its sole discretion, either for a limited time or on a permanent basis, by informing the Client accordingly, including notification by means of posting an announcement on the Company’s Website. It is further understood that the Company is entitled to suspend temporarily or permanently the sale of a CFD due to increased market volatility.
- The Company reserves the right at its sole discretion to increase or decrease spreads on Financial Instruments depending on market conditions without any prior notice to the Client.
- The Client acknowledges and agrees that (i) the Company may record all telephone conversations between the Client and the Company’s employees or representatives, (ii) any recordings that the Company keeps will be its sole properly and the Client accepts that they will constitute evidence of the communications between the Company and her/him, (iii) the Company may use such recordings or transcripts from such recordings as evidence towards any dispute, and (iv) that telephone conversations may be recorded without the use of a warning tone or any other further notice.
- The Client is allowed to use robots. The Client shall not employ any means, electronic or otherwise, including software and/or software- equipped computer or other electronic device for automatic trading in his Trading Account. Furthermore, the Client shall not use or allow the use of a computer for performing a transaction, in a way that the transaction performed is obstructing and/or interfering with the regular and ordinary carrying out of the said transaction, as this was contemplated by the Company (including but not limited to: expert advice software; auto clickers and other similar software). Whereas the Client wishes to act contrary to the provisions of this paragraph, he/she must give notice of an application in writing to the Company and may only act contrary to the provisions of this paragraph where the Company approves the said application.
8. Corporate Actions regarding CFDs on Shares / Indices
- While trading CFDs on Shares and Indices, please consider that the Company may apply reasonable measures in order to reflect the Corporate Actions of the underlying assets. This can include but is not limited to: Splits / Reverse Splits, Dividends Payments, Rights Issues, Mergers or Acquisitions etc.
- Please also note that it is the Client’s sole responsibility to be aware if an upcoming corporate event is approaching that may affect the underlying securities. The Company might charge the costs associated with the underline corporate actions, depending on Clients position direction (Buy/Sell), without a notice as this has been applied directly by our Liquidity Providers to the Company.
- In relation to a dividend adjustment to be applied to the Client’s account, the Client must hold an open trade at the close of the trading session on the Business Day before the ex-dividend date.
9. General Information on the Main Risks involved with Trading
- The Client acknowledges that buying and selling Financial Instruments offers opportunities to make profits, but also entails exposure to various types of risk that could translate into financial losses for the Client. In order to understand the different types of financial instruments, and to recognize and minimize the related risks, it is first necessary to learn their basic characteristics. It is also important to realize that there are inherent risks in all types of investment. Depending on the type of financial instrument, there may be more risks than those described in this section, with a resulting increase in the general level of risk assumed by the investor.
- It is understood that specific risks connected to traditional investment instruments (e.g. stocks, bonds, investment funds etc) and those connected to non –traditional instruments (e.g. options, futures, alternative instrument etc) are not dealt with in detail here.
- It is further understood that the Agreement does not cover the tax or legal consequences of executing transactions in financial instruments. Therefore, it is recommended for the Client to seek specialist professional advice of these issues before making an investment.
- Moreover, the Website is not intended to describe all risks connected to Financial Instruments in a detailed and comprehensive manner, hence, it seeks to provide sufficient basic information and to make Clients aware of the issues involved. Therefore, in case of any further questions and/ or clarifications, the Clients may contact the Company so as to be properly informed about any related risks.
- The Client acknowledges the risk involved in internet transactions and/ or in any electronic means transactions. Therefore, the Company shall bear no responsibility for any claims and/ or losses and/ or damages and/ or costs which may occur.
- It is further understood that the Company shall not be held liable and/or shall bear no responsibility, for any delays or other errors caused during the transmission of the Client’s order. Such delay may be caused by various reasons depending on the current market conditions as well as having a slow/ weak internet connection between the Client’s terminal or any other trading platform offered by the Company and the Company’s server.
- The Client further acknowledges and agrees that, regardless of any information which may be offered by the Company, the value of investments may fluctuate downwards or upwards and it is even probable that the investment may become of no value. The Client acknowledges that such a risk is owed to the margining system applicable to such trades, which generally involves a comparatively modest deposit or margin in terms of the overall contract value, so that a relatively small movement in the underlying market can have a disproportionately dramatic effect on the Client’s trades and portfolio. If the underlying market movement is in the Client’s favour, the Client may achieve a good profit, but might lose all the Capital invested within the Company. If the underlying instrument movement is in the Client’s favour, the Client may achieve a good profit, but might lose all the Capital invested within the Company.
- Therefore, the Client accepts that he/she shall not enter into a transaction with the Company, unless he/she is willing to undertake the risks of losing all the money which he/she has invested.
- Moreover, it is further understood that investing with the Company entails the use of “gearing” or “leverage”. Therefore, the Client should be aware that the high degree of leverage that is obtainable in CFDs trading can work against him/her as well as for him/her. The use of leverage can lead to loss of all the invested capital. Therefore, the Client unreservedly acknowledge and accept that he/she runs the risk of incurring losses and damages as a result of the dealing in some Financial Instruments and accepts and declares that he/she is willing to undertake this risk.
- The leverage offered to clients, is as follows: 1:1, 1:30, 1:100, 1:300, 1:500.
- The Company deals in in derivative securities, where their price is derived from the price of the underlying instrument in which the security refers to. Derivative securities / Markets can be highly volatile. The prices of the security and the underlying instrument and Indices may fluctuate rapidly and over wide ranges and may reflect unforeseeable events or changes in conditions, none of which can be controlled by the Client or the Company. It is therefore, understood and agreed by the Client, that under certain market conditions it can be impossible for a Clients order to be executed at declared price.
- The Company’s prices will be influenced by, amongst other things, changing supply and demand relationships, governmental and other commercial and trade programs and policies, and the prevailing psychological characteristics of the relevant market please. Therefore, it is understood, that Stop Loss order cannot guarantee the limit of loss.
- The Client further acknowledges and agrees that some of the Company’s underlying instruments may not become immediately liquid as a result of reduced demand for the underlying instrument and the Client may not be able to obtain the information on the value of these or the extent of the associated risks. Reliability on Previous Performance Information of the previous performance of the Company’s portfolio does not guarantee its current and/or future performance as well as a performance of the underlying instrument. The use of the historical data does not constitute safe forecast as to the corresponding future performance of the Company’s portfolio and underlying instrument to which that information refers.
10. Electronic Trading
- Trading by electronic means is provided to clients’ subject to the following terms:
- The Client is entitled to apply for access codes in order to use the Company’s electronic Trading Platform for the transmission of orders for the purchase or sale of Financial Instruments through the Company, using any compatible personal computer of the Client and via an internet connection. The Client acknowledges and understands that the Company reserves the right, at its discretion, to revoke the Client’s access to the Company’s electronic systems or part of them at any time.
- The Client agrees and undertakes to keep any security information given to the Client by the Company in a safe place and not to reveal them to any other person. The Client agrees to accept responsibility for any damage resulting from irregular or unauthorized access or use of the electronic system by third parties who have obtained the access codes of the Client through the negligence or otherwise of the Client.
- The Client shall destroy any written notification of his/her security information upon receipt.
- The Client shall not write down or record his/her security information without disguising it.
- The Client shall be liable for all orders given through his/her security information and any orders received in this manner by the Company shall be considered to have been given by the Client.
- The Client undertakes to notify the Company immediately it comes to her/his attention that her/his security information is being used by any unauthorized person. The Client acknowledges that the Company shall bear no responsibility in the event that unauthorized third persons have access to information, including electronic addresses, electronic communication and personal data, when the above are transmitted between the Client and the Company or any other party, using the internet or other network communication facilities, telephone, or any other electronic means and such unauthorized access has not been brought to the attention of the Company by the Client.
- The Company is not an internet service provider and cannot be responsible for failure to fulfil any obligation or carry out any transaction which the Company is prevented from doing as a result of any Internet connection failure. In the event of such communication/Internet service outage, and where the Client wishes to execute a position, then she/he must give a verbal instruction to the Company’s telephone operators. All calls to the Company are recorded for security purposes.
- The client confirms that any scalping triggered from a price slippage, freezing in our internal online systems, misprinting tickets from third parties acting as liquidity providers, news traders or others is strictly forbidden. Therefore, it is understood that the Company reserves the right to reverse the transactions executed without the need to any instructions or approval of the client and the client will be fully responsible of any loss affected.
11. Refusal to Execute Orders
- The Client acknowledges and agrees that the Company is entitled to, without prior notice and/or providing any explanation, to refuse to execute an order on the Client’s behalf, and hence, the Client agrees that he/she shall have no right to claim damages, whether for specific performance or otherwise compensation, whatsoever from the Company, in any of the following cases:
- If the execution of the order aims or may aim to manipulate the market price of the Financial Instruments (market manipulation);
- If the execution of the order constitutes or may constitute abusive exploitation of confidential information (insider trading);
- If the execution of the order contributes or may contribute to the legalization of the proceeds of illegal activities (money laundering);
- If the Client has insufficient funds to cover the purchase of Financial Instruments or if there is insufficient number of Financial Instruments to cover their sale;
- If the Client fails to fulfil any of his obligations towards the Company under this Agreement;
- The Company’s own exposure levels as set out in the Company’s internal policies have been reached in respect of the Financial Instrument or the underlying asset of the Financial Instrument the Client wishes to buy/ sell;
- The Company received a notice of cancellation of the Order from the Client;
- Where any doubt arises as to the validity of the Order;
- In the absence of essential details relating to the Order;
- The Order of the Client is unclear;
- It is impossible to execute the Order due to market conditions or reasons of Force Majeure
- Where the legality of the Order is doubtful; and
- The Company receives notice from the Client of the termination of the agreement existing between them.
- Any such refusal by the Company shall not affect any obligation, which the Client may have towards the Company.
12. Deposits and Withdrawals
- The Client’s Trading Account shall be activated upon the deposit of funds.
- The Client may contribute funds to his/her Account using a credit card or debit card, wire transfer, or PayPal or other similar methods of money-transfer accepted by the Company. For more details please refer to the instructions carried on the Website.
- The Company prohibits third party or anonymous payments into the Client’s Trading Account. Only funds sent from an account held in the Client’s name and belonging to the Client are acceptable. The Company reserves the right at its discretion, if it has identified third party or anonymous deposits, to block the account. The Client should note that any remaining funds will be returned to the third-party source via the same payment method and any profits accumulated by the Client using third party or anonymous funds will not be made available to the Client.
- The Company reserves the right to request documentation to confirm the source of funds deposited into the Client’s account.
- The Company will process withdrawals upon receiving a request through the Client’s platform. When requesting a withdrawal, the Client should note that the withdrawal of funds will be sent back to the same account via the same method from where the initial deposit was received.
- Withdrawals can only be requested to accounts in the Client’s name. No withdrawals will be processed to third party or anonymous accounts.
13. Confidentiality and Data Protection
- The Parties agree and undertake to keep confidential and not disclose to any third party any confidential information given by the other Party under this Agreement, including without limitation, all the communication, documentation or other information exchanged between them, both during the term of the Agreement as well as after its termination.
- The Client acknowledges and agree that the Company reserves the right, without prior notice to the Client, to disclose personal data or details of the transactions of the Client in order to comply with the requirements of the regulatory authorities in applicable jurisdictions. The Company may also disclose such information to its auditors/consultants provided if they are informed and committed to the confidentiality of the information communicated.
- The Company will handle all Clients’ personal data according to the relevant Laws and regulations for the protection of personal data as this may be amended from time to time.
14. Company’s Fees and relevant Obligations of the Client
- The Company is allowed to receive a commission fee from the Client for its Services, as well as compensation for its expenses. The Company reserves the right to change the size, the amounts and the percentage rates of its fees. In case when this happens, the Client will be informed accordingly in advance.
- All applicable fees or charges can be found on the Website.
15. Limitation of Liability
- In the event of proven damages, the liability of the Company, its officers, employees, or agents is limited to the amount of money that the Client has transferred or deposited in his/her Account with the Company.
- The Client acknowledges and agrees that under no circumstances shall the Company, its employees, directors, or officers be liable for lost profits nor for the loss of financial instruments and funds of the Client, including the cases where the Client’s assets are kept by a third party such a banking institution.
16. Clients’ Guarantees
- The Company agrees to provide the Client with the Services, subject to the Client:
- Being over eighteen (18) years old and legal competence and sound mind;
- Not residing in any country or jurisdiction where distribution or provision of the financial products or Services provided by the Company would be contrary to local legislation and/or regulations. It is the Client’s responsibility to ascertain the terms of and comply with any local legislation and/or regulations they are subject;
- Not being a citizen or resident of the following jurisdictions: USA, Syria, Japan, North Korea, European Union Countries and Canada.
- Without prejudice to the above, the Company reserves the right, acting reasonably, to suspend and/or refuse access to and use of the Trading Platform to anyone at its sole and absolute discretion.
- The Client acknowledges and agrees that he/she shall be exclusively responsible for any investment strategy, transaction or investment and he/she shall not rely on the Company for this purpose and the Company shall have no responsibility whatsoever, irrespective of any circumstances, for any such investment strategy, transaction or investment. Therefore, it is understood that, any reports, news, opinions and any other information which may be provided by the Company to the Client, aim to facilitate the Client in making his/her own investment decisions and do not constitute personal investment advice.
- The Client agrees to indemnify and hold harmless the Company in respect of any loss, damage, liability, cost or expense that it may suffer or incur by any reason of the Client failing to discharge its obligations under or acting in breach of the Agreement or as a result of any breach of any applicable laws or regulations which govern the activities of the Company.
18. Termination of the Agreement
- Each Party is entitled to terminate this present Agreement at any time by giving to the other Party at least 3 days written notice, specifying the date of termination in such, on the condition that in the case of such termination, all pending transactions on behalf of the Client shall be completed.
- The Client acknowledges and agrees that the first day of the Client’s notice shall be deemed to be the date such notice has been received by the Company.
- The Company shall be entitled to terminate this Agreement immediately, without giving the required under sub-section 17.1 notice, under the following cases:
- Death or legal incompetence of the Client;
- If any application is made or any other order is issued, or a meeting is convened, or a resolution is approved, or any measures of bankruptcy or winding up of the Client are taken;
- The Client violates any provision of this Agreement and in the Company’s opinion, the Agreement cannot be implemented;
- Upon instructions of a regulatory body;
- The Client involving the Company in any type of fraud.
- The termination of this Agreement shall not in any case affect the rights which have arisen, existing commitments or any contractual provision which was intended to remain in force after the termination and in the case of termination, the Client shall pay:
- Any pending fee of the Company and any other amount payable to the Company;
- Any charge and additional expenses incurred or to be incurred by the Company as a result of the termination of the Agreement;
- Any damages which arose during the arrangement or settlement of pending obligations.
19. Information provided by Third Parties
- The Client acknowledges that the Company’s Website, Trading Platform(s), e-mails and/or any other method of communication with the Clients, provide content, third party services and/or links to websites, that are controlled and/or offered exclusively by third parties, which are solely provided for the Client’s convenience.
- It is further understood that the Company shall bear no responsibility for the operations and/or privacy policies or the content of such third-party sites to which the Website links and that the third-party services and/or information is used by the Client at their own risk. The Company will notify the Client electronically, by a disclaimer pop-up, whenever the Client follows a link that will direct him/her to another, third party, website when browsing the Website.
- It is further understood that any third-party information is being forwarded to the Clients without going through any method of process and/or analysis and/or editing.
- The Company shall bear no responsibility for any loss, damage, cost or expense of any nature whatsoever (including without limitation of a direct, indirect or consequential nature, any economic, financial loss or any other loss, or loss of turnover, profits, business or goodwill) which was incurred or suffered by third party sites and / or services and/ or any kind of information provided by a third party to clients as a convenience via Company’s website and/ or any other method of communication with the clients.
20. Communication Methods
- Subject to any specific provision to the contrary in this Agreement, the Client may communicate with the Company by e-mail at [email protected].
- It is understood that the Company shall use the e-mail the Client has provided upon completion of the Registration Form for any communication between the Company and the Client. Therefore, the Client agrees and undertakes that he/she shall inform the Company without undue delay in case of any additional e-mail address.
- It is further understood that the Company is entitled to specify any other way of communication with the Client.
- The official communication language of the Company is English. Therefore, it is further understood that the all the documents and information provided by the Company shall be in English, hence, if such documentation or information is provided in any languages other than English, it does so for informational purposes only. Hence, the Company will not be legally responsible or liable regarding the accuracy of the translated information.
21. Bonus – Trading Benefits
- The Company reserves the right to provide its Clients with trading benefits from time to time, and trading bonus (i.e. a percentage increase on initial deposit at company’s decision which will be posted on the website).
22. Handling of Complaints
- The Client agrees that any complaints for the Services provided by the Company under this Agreement shall be forwarded to [email protected]
- The Client acknowledges and agrees that the complaint(s) shall be dealt with in accordance with the procedures set forth in the Company’s policy, as it can be found on the Website.
23. Applicable Law and Jurisdiction
- The Agreement shall be governed by, interpreted and construed in accordance with the Seychelles Laws. Any disputes arising out of or in connection with this present Agreement which are not resolved amicably by mutual agreement, shall be finally settled in the courts of Seychelles.
24. General Provisions
- The Client acknowledges and agrees that no representations were made to him/her by or on behalf of the Company which have in any way incited or persuaded him/her to enter into this Agreement.
- This Agreement, together with the Appendices and/or any Annexes (if applicable) and other related documentation/information available to the Website, shall constitute the entire agreement between the Company and the Client, in accordance with the provisions of the Law and shall prevail over any oral or written communication and/or previous agreements between the Company and the Client.
- The Parties acknowledge and agree that in the event that any of section of this Agreement, is to be proven in whole or in part to be illegal, void and unenforceable in any respect, in accordance with any applicable legislation, then such term will be immediately be considered as null and void without influencing validity of the rest of the Agreement.
- Where the Client is more than one person, the Client’s obligations under this Agreement shall be joint and several and any reference in this Agreement to the Client shall be construed, where appropriate, as reference to any one or more of such persons. Unless otherwise specified, any order, notice or communication given by any of the persons who constitute the Client shall be deemed to have been given by and/or on behalf of all the persons who constitute the Client.
- All transactions on behalf of the Client shall be subject to the applicable legislation and the Company shall be entitled to take or omit to take any measures which it considers desirable in view of compliance with the applicable legislation. The Client acknowledges and agrees that any such measures as may be taken and all the applicable legislation in force shall be binding for the Client.
- In the event of negligence, tolerance or leniency on the part of any Party with respect to its rights under this Agreement shall not in any case be deemed a silent or other waiver or abandonment of rights.
- The Client shall take all reasonably necessary measures, including without prejudice to the generality of the above, the execution of all necessary documents, so that the Company may duly fulfil its obligations under this present Agreement.
- The Client acknowledges and agrees that the Company’s official language is the English language and should always read and refer to the Website for all information and disclosures about the Company, its policies and its activities.
- The Company reserves the right to register and operate other relevant domains (websites) for identifying suitable opportunities and creating consumer interest and awareness towards the Services, which contain information and disclosures to clients and prospective clients in any language other than the English language.
- The Agreement shall be personal to the Client and hence, the Client shall not be entitled to assign or transfer any of his/her rights or obligations under the Agreement.
- The Client acknowledges and agrees that the Company may at any time sell, transfer, assign or novate to a third party any or all its rights, benefits or obligations under this Agreement or the performance of the entire Agreement. Under such circumstances, the Company shall notify the Client accordingly.
25. Restrictions on Use
- The Services are not intended for any person:
- who is under the age of 18 years old or has not attained the legal age in his country of residence or is not of legal competence or of sound mind;
- who resides in any country where such distribution or use would be contrary to local law or regulation.
26. Client Declaration
- The Client solemnly declares that:
- he/ she has read, fully understood and accepted, the entire text of the present Agreement to which he fully and unconditionally agrees, and the Client accepts that he/ she shall be fully bound by its terms and conditions;
- he/ she has received and/ or has had the opportunity to receive a copy of the Agreement prior to the date of its signing and that he/she has had the opportunity to get advice from a lawyer and/ or professional advisor of his/her choice;
- he/ she acts for himself and not as a representative or trustee of any third person, unless the Client has provided, to the satisfaction of the Company, a power of attorney or any other documentation enabling such person to act as representative and/or trustee of any third person;
- he/she agrees and consents to direct advertising, either by phone or personal representation, facsimile, automatic calls, electronic mail (e-mail) or other phone, electronic or digital means by the Company;
- any documentation/ information provided in connection with the application form, is correct, complete, accurate and not misleading and that he/she shall inform the Company of any changes to the details or information provided to the Company and completed in the Registration Form;
- he/she has chosen the investment amount, taking into consideration his/her total financial circumstances which he/she considers reasonable under such circumstances;
- the money provided to the Company belongs exclusively to the Client, free of any lien, charge, pledge and/or any other encumbrance, being no direct or indirect proceeds of any illegal act or omission or product of any criminal activity;
- he/ she consents to the Company providing him/her with any legal documentation, or other information about the nature and risks of investments, by posting such documents and information on the Website or by sending him/her with a relevant e-mail;
- he/ she consents to the provision of trade reporting by means of a Trading Platform; should the Client wish, he/she may request for these to be sent by electronic mail (e-mail) to [email protected].
- The Company shall inform the Client of any amendments of this Agreement, including amendments to the Services offered, through the Website or the Platform and by sending an electronic mail (e-mail), and the Client shall inform the Company whether he/ she consents to such changes or whether he/ she wishes to terminate the Agreement and not accept the change.