COMPANY NAME (hereinafter referred to as the Company) and an individual or entity that has signed
the present Agreement and has filled in the registration form (hereinafter referred to as the Customer),
together referred to as Parties, entered into the present Agreement (hereinafter referred to as the
The present Agreement specifies the conditions under which the Company shall provide
the services to the Customer related to conducting operations on financial markets. 1. Definitions.
"Account history" – a full list of all completed transactions and non-trading operations
conducted on a live account.
"Active account" is the Customer trading account, where quantity of
the executed market lots (1 market lot is equivalent to 10 COMPANY lots) for the accounting period
exceeds 0.2% of the average equity denominated in USD. For a USD 1,000 account the lot quantity is 2
market lots or 20 COMPANY lots. Upon occurrence of opposite trades only a half of the locked volume is
counted for the quantity of executed lots.
"Adviser" – a trading account management algorithm in
the form of a program based on MetaQuotes Language 4. This program sends requests and orders to a server
using the Customer terminal.
"Arbitrage" – a trading strategy which uses "Arbitrage
"Arbitrage transaction" – an operation, when an asset is bought on one market,
and at the same moment a matching asset is sold on a different market. This price difference is fixed on
various exchange markets. It is easily observed, that the value of the portfolio remains almost
unchanged regardless of the market movements (as the opposite trades offset each other). When the price
difference changes to a positive side, the opposite arbitrage transaction of fixing profit is conducted.
An arbitrage transaction is also a transaction that includes only the asset purchasing (selling) on one
type of the market without further selling (purchasing) on a different market, with the condition of
that a considerable price gap between the quotes of these two related markets appears at the moment of
opening or closing the trade.
"Ask" – the highest price in the pair at which the Customer buys
"Balance" – aggregate financial result of all completed transactions and
non-trading operations of a trading account.
"Base currency" – the first currency quoted in a
currency pair, which the Customer can buy or sell at the price of the quote currency.
the smallest price in the currency pair exchange rate quote. The Customer sells at bid price.
funds" – funds received by the Customer as part of bonus programs and contests, held by the Company.
"Equity" is the current account balance, calculated according to the formula: balance + floating
profit - floating loss.
"Candlestick bar" is an element of the chart, which includes open and
close prices, as well as maximum and minimum prices for a certain period of time (1 minute, 5 minutes,
an hour, 24 hours, a week etc.).
"Customer" is a legal body or physical party that has accepted
the present Agreement with the Dealer (the Company) in order to conduct trading operations under the
terms of margin trading, and who has entered into a Customer terminal rental contract with COMPANY.
terminal" is a MetaTrader 4.xx software product, which lets the Customer get information on financial
market trades in the real time mode (quantity defined by the Company), perform technical analysis of
markets, conduct trades, set/change/cancel orders and receive messages from the Dealer and the Company.
It can be freely accessed at the Company website.
"Customer log file" – a file created by the
Customer terminal, which records all enquires and orders sent from Customer to the Dealer with a
"Closed position" – the result of the second part of the completed closed
"Completed position" consists of two opposite trading operations of equal size
(open and close position): buying followed by selling or selling followed by buying.
for difference" (CFD) – a trading operation item based on changes of the basis asset rate (i.e. the
asset being the subject of the CFD), including stocks, futures, commodities, precious metals, stock
"Contract specification" – the main trading conditions (such as spread, lot size,
minimal trade volume, changes in trade volume, initial margin, lock etc.) for each instrument. As of the
date of wording the present Agreement, the information is available at Company website
pair" is a unit of trade operation grounded on the price change of one currency versus another currency.
"Dealer" is: 1) a company, which the Customer entered into agreement with, regulating the
legislative base of conducting trade operations under the conditions of marginal trading. 2) an
employee of this company who deals with performing orders of the Customer, including orders’ execution,
stop out and margin calls (in the text of the present Agreement written lower-case letters).
– MetaQuotes Software Corp., the developer of the trading platform.
“Disputable issue” is: 1)
a situation where the Customer assumes that the Dealer has violated one or more conditions of the
present Agreement as a result of its activity or inactivity; 2) a situation when the Dealer assumes
that the Customer has violated one or more conditions of the present Agreement as a result of his
activity or inactivity.
"Enquiry" – the Customer instruction sent to the Dealer to obtain a
currency quote. An enquiry does not imply the Customer’s obligation to open a trade.
market" is a condition of the market which is characterized by sudden currency rate changes during a
short period of time and often followed by price gaps. Usually it occurs right before and/or after one
or a series of events: - publication of economic indicators of the G8 members (the eight leading
industrial countries, i.e. the USA, Germany, Japan, France, the UK, Canada, Italy, Russia), has a high
degree of influence on the financial markets; - key interest rates’ announcements made by central
banks and their committees; - speeches or press conferences of central bank governors, finance
ministers and of the G8 countries’ presidents; - interventions of governments in currency markets;
- terrorist acts of a national (governmental) importance; - natural disasters that caused
announcement of the state emergency (or of the analogical restrictive measures) within the affected
territories; - outbreak of war or military actions; - political force major events such as
resignations, appointments or inaugurations (including election results) of executive branch of
governments; - other conditions that influence on the dynamics of the currency rate.
profit/loss" – unfixed profit/loss of all open trades at the current exchange rates at present moment.
"Force majeure circumstances" – occurrences which could not have been foreseen or prevented.
Such as: - natural disasters; - wars; - acts of terror; - government actions, actions of
executive and legislative government authority; - hacker attacks and other unlawful acts toward
"Free margin" – funds on a trading account that can be used for opening new trades.
Calculated according to the formula: equity - margin.
"Graph" (chart) is a flow of quotes
illustrated graphically. It shows the peak high of any bar/candlestick, which is the maximum Bid over a
period; the low or minimum Bid; the close price or last Bid of any bar/candlestick; and the open price
or first Bid of any bar/candlestick.
"Hedged margin" – a guarantee cash cover required by the
Dealer for opening and maintaining trades. For every instrument, it is indicated separately in
"Initial margin" – the required by the Dealer cash cover for opening a trade.
For each instrument the value is indicated in Specifications.
"COMPANY website" is the official
website of COMPANY broker available at the following website address: WWW.WEBSITE.COM
– a currency pair or CFD (contract for difference).
"Leverage" – the ratio of a covered sum used
in a trade to the volume of the trade: 1:200. Leverage 1:200 means that in order to open a trade it is
necessary to have a trading account with the deposit sum, which is 200 times less than the sum of the
trade to be opened.
"Lock" – long and short positions of the same volume that were opened for
the same instrument on the same account.
"Lock margin" is a cover sum, required by the Dealer in
order to open and maintain lock positions. For every instrument it is indicated in Specifications.
"Long" – buying an instrument hoping that the rate will increase. In connection with the
currency pair, it is purchasing the base currency using the quote currency.
"Lot" – a unit to
measure the quantity of shares, commodities, base currency, which is used in a trading platform.
"Lot size" – the quantity of assets, commodities, base currency per one lot, defined in
"Margin level" – the ratio of equity to necessary margin (in per cent),
calculated according to the formula: (equity/margin)*100%.
"Margin call" – a state of the
trading account when the Dealer has a right but is not obliged to close all open trades of the Customer
because of insufficient funds (free margin). Margin level, whereat "margin call" situation arises; is
indicated in the present Agreement.
"Margin trading" – trading with the use of leverage; a
Customer is able to open trades which value is much higher than the employed in a trade personal funds
of the Customer.
"Market open" – start of trading sessions after weekend, holidays or after a
time interval between trading sessions.
"Necessary margin" – a Dealer's finance requirement for
maintaining open positions; each instrument is shown in Specifications.
– the operation of topping up a trading account (or withdrawing money from the trading account) or the
operation of allocating (returning) the credit.
“Normal market conditions” – the condition of
the market when: - there are no significant stops in delivery of quotes to a trading platform; -
there is no rushing price dynamics; - there are no considerable price gaps.
– see "Normal market conditions".
"Obvious error" – the Dealer’s opening/closing the Customer’s
positions or executing any orders at prices, which greatly differ from the price of the instrument in
the quoting flow at the moment of execution. Or some other Dealer activity or inactivity related to
wrong evaluation of market prices at a certain moment of time.
"Opening gap" is a situation when
one of the following statements is true: - Bid of the market open is higher than Ask at market
close; - Ask at market open is lower than Bid at market close.
"Order" – the Customer
instructions sent to the Dealer to open/close a trade once price reaches the order level, or to place,
delete or change the order level.
"Order level" – the price indicated in the order.
position" is the result of the first part of a fully completed transaction. When opening a position, the
Customer undertakes the following obligations: - to conduct the second part of the transactions
(buy/sell) of the same size; - to maintain equity not lower than 30% of the necessary margin.
"Pending order" – the Customer requests the Dealer to open a trade once price has reached the
"Pips" - the smallest unit of price for any foreign currency. Also called “points”.
"Price prior to non-market quoting" is a close price of a minute bar, prior to non-market minute
"Price gap" – either of the following situations: - the present Bid is higher
than the prior Ask; - the present Ask is lower than the prior Bid.
"Quote currency" is the
second currency in the currency pair symbol that is used by the Customer for selling or buying the base
"Quotes data base" – information about all quotes of currencies.
the process of providing the streaming real-time currency quotes to the Customer in order to conduct a
"Rate" – 1) for currency pair: base currency unit price expressed in terms of quote
currency; 2) for CFD: base asset unit price expressed in terms of money.
"Real deposit" is a
difference between deposits and withdrawals at the Customer trading account for the reporting period.
"Server log file" is a file created by the server, which records all requests and orders
received by the Dealer from the Customer, including the processing result, with 1-second accuracy.
"Server" is software product of MetaTrader Server 4.xx which processes the Customers’ orders and
requests, provides information about financial market trades in real-time mode (quantity defined by the
Company), taking into account mutual obligations between the Customer and the Dealer, and adherence to
the conditions and restrictions.
"Short position" – selling the instrument with a view to the
rate decline. With respect to currency pairs: when the base currency is sold using the quote currency.
"Spike" – the price quote that meets the following conditions: - there is a considerable
price gap; - a short-term price returns to the initial level creating a price gap; - no rushing
price dynamics prior to this price quote; - no macroeconomic events and/or corporate news noticeably
influencing on the instrument price at the moment of this quote break out. The Company has the right
to remove information that concerns non-market quote (Spike) from the quotes data base of the server.
"Spread" – the difference between Bid and Ask (in pips).
"Streaming real-time quotes" –
a chain of quotes for every instrument imported to and seen in a trading platform, the mechanism of
providing quotes to the Customer by the Dealer, visible in the real-time mode, using which the Customer
is able to send an order to the Dealer to conduct a trade at every moment.
"Stop out" – forced
order to close a position generated by the server.
"Swap" – a payment taken for carrying an open
position overnight. It can be either positive or negative. A chart, defining swap values for each
instrument, can be found at COMPANY official website. At the moment of the present Agreement revision,
the information was available at Company website
"Trailing stop" is the stop loss (SL) order
management algorithm: - if an open position profit does not exceed the trailing stop level, do not
take any actions; - as soon as the open position profit exceeds the trailing stop level, send an
order to the server overriding the SL order by a distance that equals the trailing stop value of the
current price; - as soon as the interval between the SL order and the quote exceeds the trailing
stop, the server will change the order level, so that the distance between the order and current price
is equal to the trailing stop. The trailing stop works when the Customer terminal is launched,
connected to the Internet and successfully authorized by the server.
"Thin market" – a state of
the market, when there are less quotes than normally imported in the trading platform for a considerable
period of time. As a rule, this type of the market condition occurs during Christmas holidays, national
holidays in G8 countries and between 23:00 p.m. - 3:00 a.m. (GMT+2) etc.
"Ticket" – a unique
identification number assigned to position or pending order in a trading platform.
stop value" – the value of the parameter “trailing stop”, set by the Customer.
time" – the time zone in which the events registered in the server log file occur. At the moment of the
present Agreement publication it is GMT+2.
"Trading operation size" – the quantity of lots
multiplied by the lot size.
“Market conditions that differ from normal ones” – thin market or
"Trading operation/trade" is purchasing/selling the instrument carried out by the
"Trading platform/terminal" – a set of software and technical facilities that supports
receiving information on trading carried out on financial markets in real-time mode, conducts trading
operations, takes into account mutual obligations between the Customer and the Dealer, and enforces
observing conditions and restrictions. In simplified form for the purposes of the present Agreement
consists of the “Server” and the “Customer terminal”.
"Trading account" – unique personalized
log of all operations recorded on the trading platform, where completed closed transactions, opened
positions, non-market operations and orders are reflected.
The present Agreement between the
other authorized third-party service providers, including using the services with the purpose to conduct
transactions on the Customer trading account.
2. Company services. 2.1. Definition of the
Company services. 2.1.1. The Company services are all interactive programs or services offered by
the Company, which make it possible for the Customer to: - get connected with the Company or with an
authorized third-party service provider; - receive information and quotes from the Company or from
an authorized third-party service provider; - conduct trades on financial markets through the
Company trading terminal MetaTrader 4.0 (software program) which includes electronic data transfer that
the Customer submits to the Company using a personal computer connected by modem or any other device to
access the file transfer network assigned by the Company. 2.1.2. By signing the present Agreement
the Customer acknowledges getting familiarized with the rules of communication and agrees that the
Customer can give instructions only by telephone or the Customer trading terminal. 2.1.3. The
services of the Company include information software set "MetaTrader 4.0", means of technical analysis
and services of information provision by the third party, offered along with the services of the
Company. 2.1.4. The Customer acknowledges that the Company reserves the right to change, add, rename
or leave unaltered the Company services that are offered in terms of the present Agreement without any
prior notice. The Customer also acknowledges that the Agreement is applicable to services, which can be
changed, added or renamed in future in addition to the services which are provided to the Customer
currently. 2.1.5. In relation to the Customer trades, the Company merely executes the Customer
orders without providing trust management or recommendations. The Company executes the Customer enquires
or orders regardless of a trade character, even if they are non-beneficial for the Customer. 2.1.6.
But for the cases described in the present Agreement, the Company is not obliged to: - monitor and
notify the Customer about the trade status; - close a Customer open position; - make attempts to
execute the Customer order using the quotes, which differ from the quotes displayed in the "MetaTrader
4.0" trading platform. 2.1.7. The Company services exclude providing recommendations and information
to motivate the Customer to conduct operations. In some cases, the Company reserves the right to give
information, recommendations and advice to the Customer; in this case the Company bears no
responsibility regarding the result and effectiveness of such actions. The Company reserves the right to
cancel or close any Customer position in terms of conditions that are regulated by the present
Agreement. All trades conducted by the Customer as a result of erroneous information or a mistake, are
to be upheld by both parties, the Customer and the Company.
3. Basic principles. 3.1
Processing Customer orders. 3.1.1. For conducting trades the "Instant Execution" quoting mechanism
is used. 3.1.2. Customer enquiries and orders are processed according to the following scheme: -
the Customer makes an enquiry or an order, which correctness is checked, in the Customer terminal; -
the Customer terminal forwards the enquiry or order to the server; - the server receives the
Customer order and checks its correctness; then the trading terminal shows the message "request was
accepted by server"; - once the Customer enquiry or order has been processed, the server sends the
result back to the Customer trading terminal; - provided that there is uninterrupted connection
between the Customer terminal and the server, the Customer terminal receives the result of the enquiry
or order execution result from the Dealer. 3.1.3. The Customer can attempt to cancel the earlier
sent request (which is queued); nevertheless, the Company cannot guarantee the success of this attempt.
3.1.4. The time, required to execute an enquiry or an order, depends on the quality of connection
between the Customer terminal and the Company server, as well as on the market conditions. Under the
normal market conditions, it usually takes about 1-5 seconds to process an enquiry or an order. Amid the
market conditions which differ from the normal ones, the processing time can be extended up to 10-15
seconds. 3.1.5. The Company server can decline the Customer order in cases as follows: - at the
market opening a "No price" message is received, in case the Customer makes an enquiry before the first
quote is imported in the trading platform; - the Customer does not have enough funds to open a new
position; - market conditions are other than normal. 3.2. Trading operations. 3.2.1.
Currency is sold at Bid price. Currency is bought at Ask price. 3.3. Minimal size of a trade. 3.3.1.
Minimal size of a trade is 0.01 Market lot 3.3.2. If the sum total of the Customer opened positions
exceeds the following sums in base currency, the Company reserves the right to impose limitations on the
maximal leverage. - for the amounts over USD5,000,000 (five million) to 1:100; - for the amounts
over USD20,000,000 (twenty million) to 1:50. The Company reserves the right to impose the
above-mentioned restrictions on a selective basis. 3.4. Spreads. 3.4.1. In case of no force
major circumstances, the Company uses fixed spread for fixed spread accounts, which is indicated on the
Company official website. By variable spreads accounts spread is variable. 3.4.2. Carrying over a
position to the next day. When a position passes over to the next day, the swap is accrued for an
open position starting since 23:59:30. For the night Wednesday – Thursday, a triple swap is accrued.
Size of swap is indicated at Company website 3.5. Making amendments to trading conditions. 3.5.1.
The Company has the right to change margin requirements, spreads, the orders’ executing mode and other
trading conditions in correlation with national and international holidays, and without notify to the
Customers beforehand. In this case, all changes will be applicable to the already opened trades and new
positions. 3.6. Closing CFD positions. 3.6.1. If there are opened positions in a trading account
on a day (or on the next day) of the economic statistics publication of the CFD issuing company, or any
other event, which has a great impact on the share rate, the Company reserves the right to close a
position using the last market quote at the trading session close. In this case, there follows a trade
reopening at one of the market quotes during the first 5 minutes after the session opening. 3.7.
Opening position. 3.7.1. To open a position, an order should be sent from the Customer terminal to
the Company server. The following order parameters are obligatory: - instrument; - position size
(in lots). 3.7.2. The list of instruments available for conducting trading operations using "Instant
Execution" mode is published at the official website of the Company 3.8. The Company is obliged to
notify the Customer 7 days prior to changing the list of the trading instruments. 3.8.1. To open a
Buy/Sell position the Customer should send an order using the Customer terminal. To open a Buy
position in the order window of the Customer terminal the Customer should click "Buy", whereat the order
is sent to the server. To open a Sell position in the order window of the Customer terminal a Sell
tab should be clicked, whereat the order is sent to the server. 3.9 Executing Customer orders to
open a position. 3.9.1. If the size of free margin is enough to open a position, the position shall
be opened. A new free margin level shall be adjusted automatically. 3.9.2. In case the size of the
free margin is insufficient to open a position, the position shall not be opened and a message about
insufficient funds shall appear in the order window. 3.9.3. If at the moment of the Customer order
or enquiry execution by the server the quote changes, the server shall offer a new Bid/Ask price. In
this case a new window "Requote" shall appear with new prices. If the Customer agrees to conduct the
operation at newly offered quotes, the “OK” tab should be clicked in “Requote” window within 3 seconds.
3.9.4. The Customer order to open a position is considered to be executed, and the position to be
opened, when the corresponding server log file has been updated with a new record. Each new position
shall receive a sequential ticket number. 3.10. Closing position. 3.10.1. To close a position in
the Customer terminal the Customer is obliged to indicate the following parameters: - the ticket of
the position to be closed, - the size of the position. 3.10.2. To close a position, the Customer
should click the icon "Close position” in the order of the trading terminal. 3.11. Execution of the
Customer orders to close a position. 3.11.1. If at the moment of the Customer order/enquiry
execution by the server, the quote has changed, the server shall offer a new Bid/Ask price. In this case
there will appear a “Requote" window with new prices. Provided that the Customer agrees to conduct the
deal at newly offered prices, the “OK” icon should be clicked within 3 seconds. 3.11.2. The Customer
order to close a position is considered as completed, and the position as closed, when a corresponding
record in the log file of the server appears. 3.12. Description of orders, available in COMPANY
trading terminal: 3.12.1. Types of orders: "Buy Stop" suggests opening a buy position at a
higher price than the actual price at the moment of the order placing; "Sell Stop" suggests a sell
position opening at a lower price than the actual price at the moment of the order placing; "Buy
Limit" suggests opening a buy position at a lower price than the actual price at the moment of the order
placing; "Sell Limit" suggests opening a sell position at a higher price than the actual price at
the moment of the order placing. 3.12.2. To close the position the following orders can be used:
"Stop Loss" implies closing the earlier opened position at a price, which is less profitable for the
Customer if compared to the price at the moment of order placement; "Take Profit" implies closing an
earlier opened position at a price, which is more profitable for the Customer as compared to the price
at the moment of the order placement. 3.12.3. The Customer has the right to change and remove any
pending order if it has not been activated. 3.13. Execution of orders. 3.13.1. An order will be
queued for execution in the following cases: - Sell Stop order is queued for execution the moment
the Bid price in the streaming quotes becomes lower or equal to the order level; - Buy Stop order is
queued for execution the moment the Ask price in the streaming quotes hits or exceeds the order level;
- Sell Limit order is queued for execution the moment the Bid price in the streaming quotes hits or
exceeds the order level; - Buy Limit order is queued for execution the moment the Ask price in the
streaming quotes becomes lower or equal to the order level; - Take Profit order for open buy
position is queued for execution when the Bid price in the streaming quotes exceeds or equals the order
level; - Stop Loss order for open buy position triggers, when the Bid price in the streaming quotes
drops below or equals the order level; - Take Profit order for open sell trade triggers, when the
Ask price in the streaming quotes drops below or equals the order level; - Stop Loss order for open
sell trade triggers selling an open position, and the Ask price in the quoting flow exceeds or equals
the order level. 3.13.2. In cases of price gaps the orders are executed according to the following
rules: - pending orders, where the open level and the Take Profit got into a price gap, are canceled
with a comment [canceled/gap]; - Take Profit order the level of which is within a price gap, is
executed at the price set by the order; Company has right to execute in price more favorable to Customer -
Stop Loss order, which is within the price gap, is executed at the first received price following the
gap and marked by a comment [sl/gap]; - Buy Stop and Sell Stop pending orders are executed at the
first price received following a price gap, with [started/gap] appearing as a comment; - Buy Limit
and Sell Limit pending orders are executed at the set price and marked by a comment [started/gap]. In
some cases, when price gaps are small, orders can be executed in a customary mode, according to the set
in the order prices. 3.13.3. When a pending order is received for execution and the size of free
margin is not enough for the order opening, the pending order is deleted automatically. 3.14. Time
of validity and order placement, parameters, rules of placing orders. 3.14.1. Orders can only be
placed, removed or changed by the Customer when trading for the chosen instrument is allowed. 3.14.2.
Placing a pending order, the following information should be provided by the Customer: - the
instrument; - position size (volume); - order type (Buy Stop, Sell Stop, Buy Limit, Sell Limit);
- price level at which the order should be set. 3.14.3. When a pending order attempts execution,
the server automatically checks the trading account stance to see if free margin is available. New
position is added to the list of open positions; the cumulative Customer position and free margin are
calculated. 3.14.4. Under normal market conditions a server executes an order according to the price
set without slippages. 3.14.5. An order is considered to be executed once it has been recorded in
the server log file. 3.14.6. The Customer agrees to undergo a supplementary expert examination of
the trading account, if it has been revealed that the trading methods of the Customer include opening
and closing/opening lock positions with a less than 10-seconds interval between them. In accord to the
results of the supplementary examination the Company reserves the right to correct the outcome of the
Customer’s trading by the sum total of such orders. 3.15. Forced close of positions. 3.15.1.
When the Customer account margin level is less than 30%, margin call triggers. The Company has the
right, however, is not obliged to close the Customer position. It is at the Company’s discretion whether
to close the position or not. 3.15.2. If the current trading account state (equity) is less than 10%
of the margin necessary to maintain an open position, the Company reserves the right to force a Customer
position close without prior notice. 3.15.3. The server controls the account current condition. In
case conditions described in Clause 3.15.2 of the present Agreement are violated, the server shall
generate a forced position closing order (stop out). Stop out is executed according to the market price
in line with the general Customer orders’ queue. Forced close of a position is recorded in the server
log file as a "stop out". 3.15.4. In case the conditions described in Clause 3.15.2 of the present
Agreement are violated and the Customer has several open positions, the position with the highest
floating loss will be closed first. 3.15.5. Amid normal market conditions the Company secures that
after the last position close the balance of the trading account will be 0% - 10% of the margin needed
to cover this last forcedly closed position. The Company reserves the right to restore the negative
account balance of a Customer with the funds available in another account owned by the Customer, if the
balance has turned negative in the result of a strong price movement (as a rule, in cases described in
the Clause 5.9.). 3.15.6. There can be a delay in automatic order closing in the process of forced
position close. This delay can be the reason of closing a position at a more favorable price than the
price at the moment of the induced order closing. The account status at the moment of the deal closing
by “stop out” is reflected in the comment to the order, where per cent of free margin, account balance
and margin level are indicated. Closing of the order at the price, which is more profitable for the
Customer than the "stop out" level, cannot be considered as the reason for a claim on the part of the
Customer. Closing of the position at the price, which is less favorable for a Customer than "stop out"
level, can be considered as the reason of claim on the part of the Customer. 3.15.7. By accepting
the present Agreement, the Parties have agreed that market working time - Monday 00:00 - Friday 23:59 -
is shifted twice a year due to the USA switching to day-light saving time and vice versa, on the second
Sunday of March and the first Sunday of November correspondingly. 3.15.8. The maximum number of
deals opened simultaneously is not limited. Yet, the Company reserves the right to impose obligatory
restrictions upon the number of orders opened.
4. Money deposit/withdrawal. 4.1. Withdrawing
funds from a Customer trading account. 4.1.1. The Customer shall withdraw the money from the trading
account to the payment systems, enabled for withdrawal in the Trader’s room on the Company’s official
website. 4.1.2. For the trading accounts, which were deposited through electronic payment systems,
the withdrawal of money by means of bank currency transfer using the bank details of the trading account
owner is made, if agreed upon by the Company. 4.1.3. Using electronic payment systems, withdrawal is
possible to be processed only to the same payment system with the same account details (currency,
account number), which the deposit was made from. In case a trading account has been loaded from
numerous payment systems, using several wallets and in different currencies, withdrawal shall be
requested on the proportional basis. 4.1.4. If the Customer has changed the details within the
payment system, it is necessary to notify the Company by sending a filled-in form with attachment of ID
scan copy to the Finance Department of the Company. Otherwise, the Company reserves the right to decline
the Customer request of withdrawal to new personal details. 4.1.5. Withdrawal is processed within
the set time, which varies for every payment system; however, in some cases the time of the withdrawal
can be increased up to 5 working days, except for the cases described in Clause 9.1.4 of the present
Agreement. 4.1.7. If the currency exchange between payment systems has been revealed, the Company
reserves the right to charge extra commissions for the exchange service. 4.2. Depositing funds to
the Customer trading account can be made through any of the methods listed at the Company's website.
4.2.1. The Customer agrees that in cases of software malfunction, delays in depositing funds to the
trading account are possible. 4.2.2. he Company is obliged to load a sum to the Customer trading
account in case of detecting any error in software, that caused a delay in automatic funds depositing,
upon condition that the Customer informs about the delay. 4.3. Company doesn’t provide any interest
rates over unused balance, but reserves right to provide them. 4.4. Fees charged for
deposit/withdrawal. 4.4.1. At funding a trading account the Company compensates full or partial
amount of fees charged by payment systems. Company is not provider nor operator of any payment system
and therefore can’t guarantee fees or any costs. Company is not allowed to charge higher costs of
deposit/withdraw then are actual costs of payment system. In case of detection of this service
abusive practice the Company reserves the right to deduct the commission from the Customer trading
5. Order of business, claims and contentious cases settlement. 5.1. When
contentious cases occur, the Customer is entitled to report a claim to the Company. Claims are accepted
within two working days from the date the problem has occurred. 5.2. The claim shall be sent to the
Dealer Department in the form of an email CLAIMS@WEBSITE.COM claims. The is not subject to revelation by
the claimant until the inquiry is finished. Claims submitted in other ways shall not be reviewed.
5.3. The Company shall process the Customer complaint within the term of not more than 10 working
days: If the Customer claim is considered fair, the Company will accept it and deposit funds in the
Customer trading account within one working day. The Company follows generally accepted market
practices and internal policy, for those claims not mentioned in the present Agreement. 5.4. The
Customer claim form shall comprise: - full name; - trading account number; - date and time
when the contentious case occurred; - contentious case or order ticket; - description of claim,
leaving out emotional connotation. 5.5. The Company reserves the right to dismiss a claim in the
following cases: - the claim does not comply with the terms of the Clauses 5.1, 5.2, 5.4.; - the
claim comprises obscene/rude words or/and insults to the Company or its officials; - the claim
contains threats to the Company or its officials; - the Customer threatens to stain the reputation
of the Company using social networks and other community resources. 5.6. The Company reserves the
right to correct the result of the Customer trades if the server errors were detected, which led to
quotes delay, spikes and other negative consequences for the Company, and could not have been hedged by
the Company contractors. 5.7. The Company guarantees that any deal of the Customer carried out at
non-market quote (spike) shall be restored just after detection of the fact of erroneous performance.
5.8. If the positions are fully locked by any locking system including triple lock and the sum of
swaps is not equal to zero, the Company reserves the right to correct the swap. 5.9. The present
Agreement forbids use of strategies oriented on the profit extraction by means of intentionally creating
the situations, when one of the Customer's or a group of Customers’ account turns to negative balance,
including the situation when the accounts are opened under the names of different persons, invariably
being the part of one trading strategy. In case of revealing implementation of such trading strategies,
the Company reserves the right to apply the Clause 3.15.5. of the present Agreement. 5.10. If at the
moment of market close the total volume of positions, opened at the Customer account implies the change
of total profit by more than 0.5% of deposit, in case the price changes by 1 pip (more than 5 COMPANY
lots for every USD1,000 of deposit), the Company reserves the right to correct the financial result of
such deals in case the market opens with a gap by the amount proportional to the size of the gap in
pips. 5.11. The Dealing Department of the Company executes its affirmative decision on a claim
regarding reopening a position according to the following scheme: in case there are considerable time or
price gaps since the moment of erroneous closing a position to that of opening a position, the deal can
be opened again at an average price which is set either for the period between a mistaken position close
and making a decision on its reopening or within an hour from the moment of erroneous position close.
Reopening a position is placing a new order of the same volume as the one closed mistakenly. This rule
is fully applicable to the compensation of mistakenly closed positions. 5.12. When the price change,
connected with the a difference between the instrument last price at market close and the instrument
first price at market open, or connected with news release, leads to a profit higher than 10% of the
initial deposit, the Company reserves the right to use correction of such trade financial result in the
size proportionate to the difference of the abovementioned prices in pips, by means of deducting the
funds with the comment "Clause 5.12. correction". In certain cases it is at the Company’s discretion to
set the minimal profit change below a 10% level (of the initial deposit). 5.13. The Company reserves
the right to nullify results of a deal if the Company discovers that money used to execute the deal has
been acquired in a violation of provisions of any Company agreement, including the present Agreement,
accepted by the Customer. 5.14. If the total swap on all the trades made exceeds USD5,000, the
Company reserves the right to correct it to USD5,000 in certain cases. 5.15. The compensatory amount
to the Customer at eliminating the technical deficiency consequences cannot exceed USD500,000.
Identification and verification of Customers. 6.1. The Company has the right to ask the Customer to
prove the personal identity information, indicated in the trading account registration form. At any
moment the Customer can receive a request to submit a scan copy of the passport/ ID or a certified copy
of the passport/ ID, which is at the Company's discretion. 6.2. In case the Customer has not
received the request for providing the scan copy of passport/ ID, the verification procedure of the
trading account is not obligatory, though the Customer is free to send the copy of the passport or any
other document which identifies the personality to the Client Relations Department. 6.3. If after
the account opening the Customer personal registration information (such as full name, address or
telephone) has been changed, the Customer is obliged to inform the Client Relations Department of the
Company sending a request to change the registration information. 6.4. A Customer agrees that
personal information indicated at registration of a trading account can be used by the Company within
the bounds of the AML (against money-laundering) policy. 6.5. The Customer is responsible for
authenticity of the provided personal documents or their copies, and admits the right of the Company, if
their originality is doubted, to apply to the law-enforcement authorities of the document issuing
country for the authentication validation, in case the act of the document forgery was disclosed, the
Customer will be brought to responsibility in accordance with the legislation of the document issuing
7. Risks. This notification is missioned to reveal to the Customer the information
regarding risks connected with conducting trading operations on the financial markets and to warn the
Customer about possibility of financial losses related to these risks. In the present Agreement it is
impossible to disclose all information about all potential risks due to sheer number of possible
situations. The interpretation of the notions and terms used in this notification fully coincides with
interpretation of those in the Agreement on processing and executing the Customer orders. 7.1.
Leverage effect. 7.1.1. Conducting trades under the conditions of "Margin Trading" a slight change
of the instrument price rate can have an imposing impact on the Customer trading account balance due to
the leverage effect. In case the market moves against the Customer position, the latter can suffer
losses in the amount of the initial deposit and other additional funds deposited by the Customer in
order to keep the positions open. The Customer acknowledges being fully responsible for considering all
risks, using finance and choosing the corresponding trading strategy. 7.1.2. It is highly
recommended to maintain the Margin Level above 1000% and always set Stop Loss orders to limit possible
losses. 7.2. High instrument volatility. 7.2.1. Numerous instruments have considerable intraday
price change ranges, implying a high possibility of trades ending in high profits or losses. 7.3.
Technical risks. 7.3.1. The Customer undertakes risks of financial losses caused by malfunctioning
of informative, communication, electric and other systems involved. 7.3.2. Conducting trading
operations in the Customer terminal, the Customer undertakes the risks of financial losses caused by the
following reasons: a) hardware and software equipment errors, or poor quality of connection on the
Customer side; b) improper functioning of the Customer equipment; c) wrong settings of the
Customer terminal; d) use of outdated Customer terminal; e) the Customer unfamiliarity with the
instructions provided in the "Customer Terminal Use Guide" and in the section "FAQ: Frequently Asked
Questions". 7.3.3. The Customer acknowledges that in case of conducting trading operations on
telephone, during peak hours the possibility to reach the operator is weaker. The situation described
can occur during fast market (for example, at key news releases). 7.4. Other than normal market
conditions. 7.4.1. The Customer realizes that under other than normal market conditions the time of
the Customer order processing can be prolonged. 7.5. Trading platform. 7.5.1. The Customer
admits that there can be only one enquiry/order enqueued to be processed by the sever. The attempt to
set any new order or enquiry shall be declined with the order window displaying the message "Trade flow
is busy". 7.5.2. The Customer acknowledges that the only reliable source of information regarding
the streaming quotes is the main server, servicing the real Customers. The quotes databases in the
Customer platform cannot be regarded as a credible source of information regarding the streaming quotes,
as in case of unstable connection between the Customer platform and the server a part of quotes can fail
to enter the Customer platform. 7.5.3. The Customer admits that shutting down the window of placing/
modifying / cancelling an order, and shutting down the window of closing or opening positions does not
cancel the enquiry or order, which has already been sent to the Dealer to be exercised. 7.5.4. The
Customer undertakes risks of unplanned trading operations conducted in cases of resending an order
before the moment of receiving the information about the result of the Dealer’s executing the prior
order. 7.5.5. The Customer realizes that simultaneous modification of the pending order level and
Stop-Loss and/or Take-Profit, which were added right after the order had been executed, will only be
processed when a Stop-Loss and/or Take-Profit level order is modified for the opened position of the
order. 7.6. Communication. 7.6.1. The Customer undertakes the risk of financial losses caused by
late receiving or a failure to receive the server or Dealer message. 7.6.2. The Customer realizes
that non-coded information sent by email is not secured from unauthorized access. 7.6.3. The
Customer agrees that the Dealer reserves the right to delete the messages, which were not received by
the Customer by internal Customer platform mail within three calendar days since the moment of the
message uploading. 7.6.4. The Customer bears full responsibility for confidentiality of the received
from the Dealer information, and undertakes the risks of financial losses caused by unauthorized access
of third parties to the Customer trading account. 7.7. The risks connected with activity of third
parties involved in relationship between the Company and the Customer. 7.7.1. The Customer
undertakes risks connected with disestablishment of payment systems. If the electronic payment system
ceased to exist, the Company deducts funds from the Customer account in the amount deposited through
this system. 7.7.2. The Customer undertakes risks related to indicating wrong details for bank wire
transfer and accepts that this can be the reason of refund, additional charging commissions, and other
risks related to refund and repeating a wire transfer. 7.7.3. The Customer undertakes risks related
to unauthorized use of the Customer’s personal data of access to payment systems, and also connected
with using the Customer’s bank cards by the individuals who dispose sufficient data for using such
cards, that occurred in the result of the Customer carelessness.
8. Communication with Customer.
8.1. To contact the Customer the Company can use: - trading platform internal mail; - email;
- fax; - telephone; - postal service; - news from the section “Company News” on the
Company’s official website. The Company shall use the personal information of the Customer indicated
at registration, in this regard the Customer is liable to inform the Company about all changes in the
personal contact details. 8.2. A message (including documents, announcements, notifications,
confirmations, reports etc.) is considered as received by the Customer: - one hour after it has been
sent by email; - immediately in case it has been sent by internal mail in the trading platform; -
immediately in case sent by fax; - immediately after the phone call has been finished; - after 7
calendar days in case sent by postal service; - right after release of news in the section “Company
News” of the Company official website. 8.3. The Customer daily receives an email with a report on
all operations conducted in the trading account for the past 24 hours.
9. Responsibility and
liability. 9.1. General provisions. 9.1.1. The Customer ensures that: - the information
indicated in the account registration form is true and pertains to the account owner; - it is of the
Customer full responsibility to secure confidentiality using the username and passwords; - the
Customer is fully responsible for actions that result from using username and passwords; - the
Customer bears full responsibility for actions including operations on financial markets; - agrees
to the right of the Company to record conversations with the Customer with the purpose of their proof.
9.1.2. The Company ensures that the information indicated by the Customer in the account
registration form is confidential. In case of such disclosure the violation shall be handled according
to the present Agreement. 9.1.3. The Customer accepts that the Company or a third party involved in
representing the services to the Customer is not liable for malfunctioning of the telephone connection,
internet, scheduled maintenance or updates or any events that do not depend on the Company, or
information services provider or a third party dealing with rendering services to the Customer. 9.1.4.
The Customer agrees that the Company has a right to suspend activity on the Customer trading account in
case the Company has any suspicion that the Customer trading account is used for money-laundering or the
Customer has provided deliberately false information. Once the operations are suspended, the Company
shall conduct the investigation that may include examination of the account registration data and the
trading account depositing history, identification of the Customer, etc. The Customer agrees that the
Company has the right to initiate investigation, if it has reasons to suspect that the Customer has
traded on the account in violation of the present Agreement. 9.1.5. The Customer acknowledges, that
in conformity with anti-money laundering policy, the Company has a right to request the details of the
bank account open under the name of the Customer, imposing the limitations on funds' withdrawal from the
account only through bank transfer with the specified bank details. In case of the Customer refusal to
submit the bank details the Company is entitled to put on hold all operations with the trading account
until provided with the required information.
10. Termination of agreement. 10.1. General
provisions. 10.1.1. The Agreement enters into effect since the moment of being signed by the
Customer. 10.1.2. The present Agreement is terminated if: 10.1.2.1. Any party expresses a will
to terminate the present Agreement: - in case the Customer withdraws all funds from the trading
account, which leads to termination of relationship regulated by the Agreement; - in case of the
Customer violation of the conditions described in the present Agreement the Company has the right to
terminate the Agreement in its sole discretion, with prior notification of the Customer about such
termination and after returning all funds from the Customer trading account balance as of the moment of
the Agreement termination. 10.1.2.2. If the Company stops the activity regulated by the present
Agreement: - the Company notifies one month prior to such termination; - the Company returns all
funds to the Customer that were on the balance of the Customer trading account as of the moment of
close. 10.1.2.3. In case of the Customer death: - the right to withdraw funds from the Customer
trading account goes to the inheritor of the corresponding queue, or to the inheritor in accordance to
the will/testament of the Customer; - the right to use the trading account of the Customer and to
conduct trading operations on the financial markets cannot be inherited. 10.1.3. The Customer admits
that the Company reserves the right to suspend or to stop fully or partially the access of the Customer
to the services of the Company at its sole discretion, with the following notification by means of
communication. In this case the present Agreement is considered as terminated since the moment the
services have been made unavailable for the Customer.
11. Language. 11.1. The language of the
present Agreement is English. 11.2. For the Customer convenience, the Company can provide the
Agreement version in a language different from English. The translated version of the Agreement is of a
merely informative character. 11.3. In case of variant readings of a translated version and the
present Agreement in English, the Agreement in English is considered as a prior reference standard.
For support or any questions contact us
20-22 Wenlock Road,
Unit A-21-1, Level 21,
Tower A, Vertical Business Suite,
Avenue 3, 8, Jalan Kerinchi, 59200 Bangsar South,
Wilayah Persekutuan Kuala Lumpur, Malaysia
P.O Box 3010, Rue Pasteur,
Port Vila, Vanuatu