Common use of Account Establishment Clause in Contracts

Account Establishment. (1) You must complete an online Application Form in order to apply for an Account. We will decide whether to accept your Application Form in our sole discretion and will establish an account in the name of you, who is the person named as the holder of the account. You agree and consent to us, or agents acting on our behalf, making a verification request to an electronic identity verification service provider to assist in verifying your identity for the purposes of the Cayman Islands AML/CTF Regime, or related rules and regulations. You also agree and consent to the disclosure of your Personal Information for this purpose including your name, residential address and your date of birth. If you do not wish for your Personal Information to be disclosed to an electronic identity verification, you must notify us prior to us making the verification request, and we will provider you with an alternative means of verifying your identity. (2) Mitrade may impose minimum initial balance requirements from time to time by notice on our website. (3) Mitrade may in its absolute discretion reduce or waive the minimum deposit amount, the minimum account balance, fees (including loyalties or fees for third party services) or transaction charges, for individual clients or for classes of clients, for any length of time, with or without conditions, upon prior notice. (4) Mitrade does not accept property from you as Collateral unless it is to meet Margin Calls in special agreed circumstances. Any Collateral transferred by you to Mitrade or held by Mitrade on behalf of you is pledged as a security for any liability that you may have towards Mitrade. You warrant that all such Collateral are beneficially owned by you and are and will remain free from any lien, charge, security interest and other encumbrance. If you fail to fulfill any obligation under this Client Agreement, Mitrade is entitled to sell any Collateral immediately without notice and by the means and at the price that Mitrade in its reasonable discretion determines. Mitrade shall not be liable for any loss occasioned by such sale. (5) Where you are more than one person, the account shall be established in both your names as joint tenants unless you specifically advise otherwise (in which case it shall be established in your names as tenants in common). In any case, the parties to such joint account shall each be jointly (together) and severally (individually) liable. (6) No one except you has an interest in your account with Mitrade opened for the purposes of this Client Agreement. (7) Prior to approving your account, you must have successfully completed the suitability assessment to Mitrade’s satisfaction. Notwithstanding this, Mitrade reserves the discretion to deny establishing an account for any person without needing to justify that decision to that person. (8) We also assess your client classification from time to time. If you satisfy the criteria to be classified as a professional client, we may classify you as such, upon prior notice . (9) You acknowledge that we may require information from you from time to time to comply with the Cayman Islands’ AML/CTF Regime. By submitting an Application Form, opening an Account or transacting with us, you undertake to provide us with all information and assistance that we may require to comply with the Cayman Islands’ AML/CTF Regime. (10) We may pass on information collected from you and relating to transactions as required by the Cayman Islands’ AML/CTF Regime or other applicable laws and regulations and we are under no obligations to inform you that we have done so. We may undertake any such anti-money laundering and other checks in relation to you (including sanction lists and countries list) that we deem necessary or appropriate, and we reserve the right to take any associated action without any liability whatsoever to you. (11) You also warrant that: (a) you are not aware and have no reasons to suspect that: (i) the money used to fund your Account has been or will be derived from or is related to any money laundering, terrorism financing or other illegal activities, whether prohibited under Cayman Islands’ law, international law or convention, or by agreement; or (ii) the proceeds of your investment will be used to finance any illegal activities. (12) The following figures on your Account are calculated on real time and are detailed as follows: = Deposits – Withdrawals + Realised Total P&L of closed positions (but does not include the unrealised P&Ls on the open positions) = Balance + Unrealised Total P&L on open positions + daily Overnight Funding rate for all open positions x number of days – Total of Initial Margins = the total of (P&L + daily Overnight Funding rate x number of days) = Balance + Net P&L Your ‘Available Balance’, ‘Net P&L’ and ‘Equity’ are constantly calculated in line with the market movements. If the ‘Equity’ falls below the total of Initial Margin requirements you will receive an Alert when you log onto your Trading Account and your positions are at risk of being liquidated. If the ‘Equity’ touches orfalls below the total of Maintenance Margin requirements your positions are at immediate risk of being liquidated. It is your responsibility to ensure that your account is sufficiently funded at all times, especially during volatile periods.

Appears in 1 contract

Samples: Client Agreement

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Account Establishment. (1) You must complete an online Application Form in order to apply for an Account. We will decide whether to accept your Application Form in our sole discretion and will establish an account in the name of you, who is the person named as the holder of the account. You agree and consent to us, or agents acting on our behalf, making a verification request to an electronic identity verification service provider or other third-party provider as and when Mitrade may engage such service to assist in verifying your identity for the purposes of the Cayman Islands Mauritius’ AML/CTF Regime, or related rules and regulations. You also agree and consent to the disclosure of your Personal Information for this purpose including your name, residential address address, Identification number, Nationality, and your date of birth. If you do not wish for your Personal Information to be disclosed to an electronic identity verificationa third-party provider, you must notify us prior to us making the verification request, and we will provider provide you with an alternative means of verifying your identity. (2) Mitrade may impose minimum initial balance requirements from time to time by notice on our website. (3) Mitrade may in its absolute discretion reduce or waive the minimum deposit amount, the minimum account balance, fees (including loyalties or fees for third party services) or transaction charges, for individual clients or for classes of clients, for any length of time, with or without conditions, upon prior notice. (4) Mitrade does not accept property from you as Collateral unless it is to meet Margin Xxxxxx Calls in special agreed circumstances. Any Collateral transferred by you to Mitrade or held by Mitrade on behalf of you is pledged as a security for any liability that you may have towards Mitrade. You warrant that all such Collateral are beneficially owned by you and are and will remain free from any lien, charge, security interest and other encumbrance. If you fail to fulfill fulfil any obligation under this Client Agreement, Mitrade is entitled to sell any Collateral immediately without notice and by the means and at the price that Mitrade in its reasonable discretion determines. Mitrade shall not be liable for any loss occasioned by such sale. (5) Where you are more than one person, the account shall be established in both your names as joint tenants unless you specifically advise otherwise (in which case it shall be established in your names as tenants in common). In any case, the parties to such joint account shall each be jointly (together) and severally (individually) liable. (6) No one except you has an interest in your account with Mitrade opened for the purposes of this Client Agreement. (7) Prior to approving your account, you must have successfully completed the suitability assessment to MitradeXxxxxxx’s satisfaction. Notwithstanding this, Mitrade reserves the discretion to deny establishing an account for any person without needing to justify that decision to that person. (8) We also assess your client classification from time to time. If you satisfy the criteria to be classified as a professional client, we may classify you as such, upon prior notice notice. (9) You acknowledge that we may require information from you from time to time to comply with the Cayman IslandsMauritius’ AML/CTF Regime. By submitting an Application Form, opening an Account or transacting with us, you undertake to provide us with all information and assistance that we may require to comply with the Cayman IslandsMauritius’ AML/CTF Regime. (10) We may pass on information collected from you and relating to transactions as required by the Cayman IslandsMauritius’ AML/CTF Regime or other applicable laws and regulations and we are under no obligations to inform you that we have done so. We may undertake any such anti-money laundering and other checks in relation to you (including sanction lists and countries list) that we deem necessary or appropriate, and we reserve the right to take any associated action without any liability whatsoever to you. (11) You also warrant that: (a) you are not aware and have no reasons to suspect that: (i) the money used to fund your Account has been or will be derived from or is related to any money laundering, terrorism financing or other illegal activities, whether prohibited under Cayman IslandsMauritius’ law, international law or convention, or by agreement; or (ii) the proceeds of your investment will be used to finance any illegal activities. (12) The following figures on your Account are calculated on real time and are detailed as follows: = Deposits – Withdrawals + Realised Total P&L of closed positions (but does not include the unrealised P&Ls on the open positions) = Balance + Unrealised Total P&L on open positions + daily Overnight Funding rate for all applicable open positions x number of days – Total of Initial Margins = the total of (P&L + daily Overnight Funding rate x number of days) = Balance + Net P&L Your ‘Available Balance’, ‘Net P&L’ and ‘Equity’ are constantly calculated in line with the market movements. If the ‘Equity’ falls below the total of Initial Margin requirements you will receive an Alert when you log onto your Trading Account and your positions are at risk of being liquidated. If the Equitytouches orfalls or falls below the total of Maintenance Margin requirements your positions are at immediate risk of being liquidated. It is your responsibility to ensure that your account is sufficiently funded at all times, especially during volatile periods.

Appears in 1 contract

Samples: Client Agreement

Account Establishment. (1) You must complete an online Application Form in order to apply for an Account. We will decide whether to accept your Application Form in our sole discretion and will establish an account in the name of you, who is the person named as the holder of the account. You agree and consent to us, or agents acting on our behalf, making a verification request to an electronic identity verification service provider or other third−party provider as and when Mitrade may engage such service to assist in verifying your identity for the purposes of the Cayman Islands Mauritius’ AML/CTF Regime, or related rules and regulations. You also agree and consent to the disclosure of your Personal Information for this purpose including your name, residential address address, Identification number, Nationality, and your date of birth. If you do not wish for your Personal Information to be disclosed to an electronic identity verificationa third−party provider, you must notify us prior to us making the verification request, and we will provider provide you with an alternative means of verifying your identity. (2) Mitrade may impose minimum initial balance requirements from time to time by notice on our website. (3) Mitrade may in its absolute discretion reduce or waive the minimum deposit amount, the minimum account balance, fees (including loyalties or fees for third party services) or transaction charges, for individual clients or for classes of clients, for any length of time, with or without conditions, upon prior notice. (4) Mitrade does not accept property from you as Collateral unless it is to meet Margin Xxxxxx Calls in special agreed circumstances. Any Collateral transferred by you to Mitrade or held by Mitrade on behalf of you is pledged as a security for any liability that you may have towards Mitrade. You warrant that all such Collateral are beneficially owned by you and are and will remain free from any lien, charge, security interest and other encumbrance. If you fail to fulfill fulfil any obligation under this Client Agreement, Mitrade is entitled to sell any Collateral immediately without notice and by the means and at the price that Mitrade in its reasonable discretion determines. Mitrade shall not be liable for any loss occasioned by such sale. (5) Where you are more than one person, the account shall be established in both your names as joint tenants unless you specifically advise otherwise (in which case it shall be established in your names as tenants in common). In any case, the parties to such joint account shall each be jointly (together) and severally (individually) liable. (6) No one except you has an interest in your account with Mitrade opened for the purposes of this Client Agreement. (7) Prior to approving your account, you must have successfully completed the suitability assessment to MitradeXxxxxxx’s satisfaction. Notwithstanding this, Mitrade reserves the discretion to deny establishing an account for any person without needing to justify that decision to that person. (8) We also assess your client classification from time to time. If you satisfy the criteria to be classified as a professional client, we may classify you as such, upon prior notice notice. (9) You acknowledge that we may require information from you from time to time to comply with the Cayman IslandsMauritius’ AML/CTF Regime. By submitting an Application Form, opening an Account or transacting with us, you undertake to provide us with all information and assistance that we may require to comply with the Cayman IslandsMauritius’ AML/CTF Regime. (10) We may pass on information collected from you and relating to transactions as required by the Cayman IslandsMauritius’ AML/CTF Regime or other applicable laws and regulations and we are under no obligations to inform you that we have done so. We may undertake any such anti-money anti−money laundering and other checks in relation to you (including sanction lists and countries list) that we deem necessary or appropriate, and we reserve the right to take any associated action without any liability whatsoever to you. (11) You also warrant that: (a) you are not aware and have no reasons to suspect that: (i) the money used to fund your Account has been or will be derived from or is related to any money laundering, terrorism financing or other illegal activities, whether prohibited under Cayman IslandsMauritius’ law, international law or convention, or by agreement; or (ii) the proceeds of your investment will be used to finance any illegal activities. (12) The following figures on your Account are calculated on real time and are detailed as follows: = Deposits – Withdrawals −Withdrawals + Realised Total P&L of closed positions (but does not include the unrealised P&Ls on the open positions) = Initial Margin percentage rate x Contract Quantity x opening price of position = Initial Margin x 50% = Balance + Unrealised Total P&L on open positions + daily total Overnight Funding rate charged for all applicable open positions x number of days – Total of Initial Margins = the total of (P&L + daily Overnight Funding rate x number of dayscharged on all open positions) = Balance + Net P&L Your ‘Available Balance’, ‘Net P&L’ and ‘Equity’ are constantly calculated in line with the market movements. If the ‘Equity’ touches or falls below the total of Initial Margin requirements requirement you will receive an Alert alert when you log onto your Trading Account and your positions are at risk of being liquidated. If the ‘Equity’ touches orfalls ” falls below the total of Maintenance Margin requirements requirement your positions are at immediate risk of being liquidated. It is your responsibility to ensure that your account is sufficiently funded at all times, especially during volatile periods.

Appears in 1 contract

Samples: Client Agreement

Account Establishment. (1) You must complete an online Application Form in order to apply for an Account. We will decide whether to accept your Application Form in our sole discretion and will establish an account in the name of you, who is the person named as the holder of the account. You agree and consent to us, or agents acting on our behalf, making a verification request to an electronic identity verification service provider to assist in verifying your identity for the purposes of the Cayman Islands AML/CTF RegimeAnti-Money Laundering and Counter-Terrorism Financing Act 2006, or related rules and regulations. You also agree and consent to the disclosure of your Personal Information for this purpose including your name, residential address and your date of birth. If you do not wish for your Personal Information to be disclosed to an electronic identity verification, you must notify us prior to us making the verification request, and we will provider you with an alternative means of verifying your identity. (2) Mitrade may impose minimum initial balance requirements from time to time by notice on our website. (3) Mitrade may in its absolute discretion reduce or waive the minimum deposit amount, the minimum account balance, fees (including loyalties or fees for third party services) or transaction charges, for individual clients or for classes of clients, for any length of time, with or without conditions, upon prior notice. (4) Mitrade does not accept property from you as Collateral unless it is to meet Margin Xxxxxx Calls in special agreed circumstances. Any Collateral transferred by you to Mitrade or held by Mitrade on behalf of you is pledged as a security for any liability that you may have towards Mitrade. You warrant that all such Collateral are beneficially owned by you and are and will remain free from any lien, charge, security interest and other encumbrance. If you fail to fulfill any obligation under this Client Agreement, Mitrade is entitled to sell any Collateral immediately without notice and by the means and at the price that Mitrade in its reasonable discretion determines. Mitrade shall not be liable for any loss occasioned by such sale. (5) Where you are more than one person, the account shall be established in both your names as joint tenants unless you specifically advise otherwise (in which case it shall be established in your names as tenants in common). In any case, the parties to such joint account shall each be jointly (together) and severally (individually) liable. (6) No one except you has an interest in your account with Mitrade opened for the purposes of this Client Agreement. (7) Prior to approving your account, you must have successfully completed the suitability assessment to MitradeXxxxxxx’s satisfaction. Notwithstanding this, Mitrade reserves the discretion to deny establishing an account for any person without needing to justify that decision to that person. (8) We also assess your wholesale client classification or retail client status from time to time. If you satisfy the criteria to be classified as a professional wholesale client, we may classify you as such, upon prior notice notice. You should be aware that wholesale clients are not entitled to the same statutory protections as retail clients. (9) You acknowledge that we may require information from you from time to time to comply with the Cayman Islands’ AML/CTF RegimeAct. By submitting an Application Form, opening an Account or transacting with us, you undertake to provide us with all information and assistance that we may require to comply with the Cayman Islands’ AML/CTF RegimeAct. (10) We may pass on information collected from you and relating to transactions as required by the Cayman Islands’ AML/CTF Regime Act or other applicable laws and regulations and we are under no obligations to inform you that we have done so. We may undertake any such anti-money laundering and other checks in relation to you (including sanction lists and countries list) that we deem necessary or appropriate, and we reserve the right to take any associated action without any liability whatsoever to you. (11) You also warrant that: (a) you are not aware and have no reasons to suspect that: (i) the money used to fund your Account has been or will be derived from or is related to any money laundering, terrorism financing or other illegal activities, whether prohibited under Cayman Islands’ Australian law, international law or convention, or by agreement; or (ii) the proceeds of your investment will be used to finance any illegal activities. (12) The following figures on your Account are calculated on real time and are detailed as follows: = Deposits – Withdrawals + Realised Total P&L of closed positions (but does not include the unrealised P&Ls on the open positions) = Balance + Unrealised Total P&L on open positions + daily Overnight Funding rate for all open positions x number of days – Total of Initial Margins = the total of (P&L + daily Overnight Funding rate x number of days) = Balance + Net P&L Your ‘Available Balance’, ‘Net P&L’ and ‘Equity’ are constantly calculated in line with the market movements. If the ‘Equity’ touches or falls below the total of Initial Margin requirements you will receive an Alert when you log onto your Trading Account and your positions are at risk of being liquidated. If the Equity’ touches orfalls ” falls below the total of Maintenance Margin requirements your positions are at immediate risk of being liquidated. It is your responsibility to ensure that your account is sufficiently funded at all times, especially during volatile periods.

Appears in 1 contract

Samples: Client Agreement

Account Establishment. (1) You must complete an online Application Form in order to apply for an Account. We will decide whether to accept your Application Form in our sole discretion and will establish an account in the name of you, who is the person named as the holder of the account. You agree and consent to us, or agents acting on our behalf, making a verification request to an electronic identity verification service provider or other third-party provider as and when Mitrade may engage such service to assist in verifying your identity for the purposes of the Cayman Islands AML/CTF Regime, or related rules and regulations. You also agree and consent to the disclosure of your Personal Information for this purpose including your name, residential address address, Identification number, Nationality, and your date of birth. If you do not wish for your Personal Information to be disclosed to an electronic identity verificationa third-party provider, you must notify us prior to us making the verification request, and we will provider provide you with an alternative means of verifying your identity. (2) Mitrade may impose minimum initial balance requirements from time to time by notice on our website. (3) Mitrade may in its absolute discretion reduce or waive the minimum deposit amount, the minimum account balance, fees (including loyalties or fees for third party services) or transaction charges, for individual clients or for classes of clients, for any length of time, with or without conditions, upon prior notice. (4) Mitrade does not accept property from you as Collateral unless it is to meet Margin Xxxxxx Calls in special agreed circumstances. Any Collateral transferred by you to Mitrade or held by Mitrade on behalf of you is pledged as a security for any liability that you may have towards Mitrade. You warrant that all such Collateral are beneficially owned by you and are and will remain free from any lien, charge, security interest and other encumbrance. If you fail to fulfill any obligation under this Client Agreement, Mitrade is entitled to sell any Collateral immediately without notice and by the means and at the price that Mitrade in its reasonable discretion determines. Mitrade shall not be liable for any loss occasioned by such sale. (5) Where you are more than one person, the account shall be established in both your names as joint tenants unless you specifically advise otherwise (in which case it shall be established in your names as tenants in common). In any case, the parties to such joint account shall each be jointly (together) and severally (individually) liable. (6) No one except you has an interest in your account with Mitrade opened for the purposes of this Client Agreement. (7) Prior to approving your account, you must have successfully completed the suitability assessment to MitradeXxxxxxx’s satisfaction. Notwithstanding this, Mitrade reserves the discretion to deny establishing an account for any person without needing to justify that decision to that person. (8) We also assess your client classification from time to time. If you satisfy the criteria to be classified as a professional client, we may classify you as such, upon prior notice . (9) You acknowledge that we may require information from you from time to time to comply with the Cayman Islands’ AML/CTF Regime. By submitting an Application Form, opening an Account or transacting with us, you undertake to provide us with all information and assistance that we may require to comply with the Cayman Islands’ AML/CTF Regime. (10) We may pass on information collected from you and relating to transactions as required by the Cayman Islands’ AML/CTF Regime or other applicable laws and regulations and we are under no obligations to inform you that we have done so. We may undertake any such anti-money laundering and other checks in relation to you (including sanction lists and countries list) that we deem necessary or appropriate, and we reserve the right to take any associated action without any liability whatsoever to you. (11) You also warrant that: (a) you are not aware and have no reasons to suspect that: (i) the money used to fund your Account has been or will be derived from or is related to any money laundering, terrorism financing or other illegal activities, whether prohibited under Cayman Islands’ law, international law or convention, or by agreement; or (ii) the proceeds of your investment will be used to finance any illegal activities. (12) The following figures on your Account are calculated on real time and are detailed as follows: = Deposits – Withdrawals + Realised Total P&L of closed positions (but does not include the unrealised P&Ls on the open positions) = Balance + Unrealised Total P&L on open positions + daily Overnight Funding rate for all applicable open positions x number of days – Total of Initial Margins = the total of (P&L + daily Overnight Funding rate x number of days) = Balance + Net P&L Your ‘Available Balance’, ‘Net P&L’ and ‘Equity’ are constantly calculated in line with the market movements. If the ‘Equity’ falls below the total of Initial Margin requirements you will receive an Alert when you log onto your Trading Account and your positions are at risk of being liquidated. If the ‘Equity’ touches orfalls or falls below the total of Maintenance Margin requirements your positions are at immediate risk of being liquidated. It is your responsibility to ensure that your account is sufficiently funded at all times, especially during volatile periods.

Appears in 1 contract

Samples: Client Agreement

Account Establishment. (1) You must complete an online Application Form in order to apply for an Account. We will decide whether to accept your Application Form in our sole discretion and will establish an account in the name of you, who is the person named as the holder of the account. You agree and consent to us, or agents acting on our behalf, making a verification request to an electronic identity verification service provider or other third-party provider as and when Mitrade may engage such service to assist in verifying your identity for the purposes of the Cayman Islands AML/CTF RegimeAnti-Money Laundering and Counter-Terrorism Financing Act 2006, or related rules and regulations. You also agree and consent to the disclosure of your Personal Information for this purpose including your name, identification number, residential address and your date of birth. If you do not wish for your Personal Information to be disclosed to an electronic identity verificationa third-party provider, you must notify us prior to us making the verification request, and we will provider provide you with an alternative means of verifying your identity. (2) Mitrade may impose minimum initial balance requirements from time to time by notice on our website. (3) Mitrade may in its absolute discretion reduce or waive the minimum deposit amount, the minimum account balance, fees (including loyalties or fees for third party services) or transaction charges, for individual clients or for classes of clients, for any length of time, with or without conditions, upon prior notice. (4) Mitrade does not accept property from you as Collateral unless it is to meet Margin Xxxxxx Calls in special agreed circumstances. Any Collateral transferred by you to Mitrade or held by Mitrade on behalf of you is pledged as a security for any liability that you may have towards Mitrade. You warrant that all such Collateral are beneficially owned by you and are and will remain free from any lien, charge, security interest and other encumbrance. If you fail to fulfill any obligation under this Client Agreement, Mitrade is entitled to sell any Collateral immediately without notice and by the means and at the price that Mitrade in its reasonable discretion determines. Mitrade shall not be liable for any loss occasioned by such sale. (5) Where you are more than one person, the account shall be established in both your names as joint tenants unless you specifically advise otherwise (in which case it shall be established in your names as tenants in common). In any case, the parties to such joint account shall each be jointly (together) and severally (individually) liable. (6) No one except you has an interest in your account with Mitrade opened for the purposes of this Client Agreement. (7) Prior to approving your account, you must have successfully completed the suitability assessment to MitradeXxxxxxx’s satisfaction. Notwithstanding this, Mitrade reserves the discretion to deny establishing an account for any person without needing to justify that decision to that person. (8) We also assess your wholesale client classification or retail client status from time to time. If you satisfy the criteria to be classified as a professional wholesale client, we may classify you as such, upon prior notice notice. You should be aware that wholesale clients are not entitled to the same statutory protections as retail clients. (9) You acknowledge that we may require information from you from time to time to comply with the Cayman Islands’ AML/CTF RegimeAct. By submitting an Application Form, opening an Account or transacting with us, you undertake to provide us with all information and assistance that we may require to comply with the Cayman Islands’ AML/CTF RegimeAct. (10) We may pass on information collected from you and relating to transactions as required by the Cayman Islands’ AML/CTF Regime Act or other applicable laws and regulations and we are under no obligations to inform you that we have done so. We may undertake any such anti-money laundering and other checks in relation to you (including sanction lists and countries list) that we deem necessary or appropriate, and we reserve the right to take any associated action without any liability whatsoever to you. (11) You also warrant that: (a) you are not aware and have no reasons to suspect that: (i) the money used to fund your Account has been or will be derived from or is related to any money laundering, terrorism financing or other illegal activities, whether prohibited under Cayman Islands’ Australian law, international law or convention, or by agreement; or (ii) the proceeds of your investment will be used to finance any illegal activities. (12) The following figures on your Account are calculated on real time and are detailed as follows: = Deposits – Withdrawals + Realised Total P&L of closed positions (but does not include the unrealised P&Ls on the open positions) = Initial Margin percentage rate x Quantity x current market price of position = Initial Margin percentage rate x 50% = Balance + Unrealised Total P&L on open positions + daily Overnight Funding rate for all applicable open positions x number of days – Total of Initial Margins = the total of (P&L + daily Overnight Funding rate x number of days) = Balance + Net P&L Your ‘Available Balance’, ‘Initial Margin’, ‘Maintenance Margin’, ‘Net P&L’ and ‘Equity’ are constantly calculated in line with the market movements. If the ‘Equity’ touches or falls below the total of Initial Margin requirements you will receive an Alert when you log onto your Trading Account and your positions are at risk of being liquidated. If the Equity’ touches orfalls ” falls below the total of Maintenance Margin requirements your positions are at immediate risk of being liquidated. It is your responsibility to ensure that your account is sufficiently funded at all times, especially during volatile periods.

Appears in 1 contract

Samples: Client Agreement

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Account Establishment. (1) You must complete an online Application Form in order to apply for an Account. We will decide whether to accept your Application Form in our sole discretion and will establish an account in the name of you, who is the person named as the holder of the account. You agree and consent to us, or agents acting on our behalf, making a verification request to an electronic identity verification service provider or other third-party provider as and when Mitrade may engage such service to assist in verifying your identity for the purposes of the Cayman Islands Mauritius’ AML/CTF Regime, or related rules and regulations. You also agree and consent to the disclosure of your Personal Information for this purpose including your name, residential address address, Identification number, Nationality, and your date of birth. If you do not wish for your Personal Information to be disclosed to an electronic identity verificationa third-party provider, you must notify us prior to us making the verification request, and we will provider provide you with an alternative means of verifying your identity. (2) Mitrade may impose minimum initial balance requirements from time to time by notice on our website. (3) Mitrade may in its absolute discretion reduce or waive the minimum deposit amount, the minimum account balance, fees (including loyalties or fees for third party services) or transaction charges, for individual clients or for classes of clients, for any length of time, with or without conditions, upon prior notice. (4) Mitrade does not accept property from you as Collateral unless it is to meet Margin Xxxxxx Calls in special agreed circumstances. Any Collateral transferred by you to Mitrade or held by Mitrade on behalf of you is pledged as a security for any liability that you may have towards Mitrade. You warrant that all such Collateral are beneficially owned by you and are and will remain free from any lien, charge, security interest and other encumbrance. If you fail to fulfill fulfil any obligation under this Client Agreement, Mitrade is entitled to sell any Collateral immediately without notice and by the means and at the price that Mitrade in its reasonable discretion determines. Mitrade shall not be liable for any loss occasioned by such sale. (5) Where you are more than one person, the account shall be established in both your names as joint tenants unless you specifically advise otherwise (in which case it shall be established in your names as tenants in common). In any case, the parties to such joint account shall each be jointly (together) and severally (individually) liable. (6) No one except you has an interest in your account with Mitrade opened for the purposes of this Client Agreement. (7) Prior to approving your account, you must have successfully completed the suitability assessment to MitradeXxxxxxx’s satisfaction. Notwithstanding this, Mitrade reserves the discretion to deny establishing an account for any person without needing to justify that decision to that person. (8) We also assess your client classification from time to time. If you satisfy the criteria to be classified as a professional client, we may classify you as such, upon prior notice notice. (9) You acknowledge that we may require information from you from time to time to comply with the Cayman IslandsMauritius’ AML/CTF Regime. By submitting an Application Form, opening an Account or transacting with us, you undertake to provide us with all information and assistance that we may require to comply with the Cayman IslandsMauritius’ AML/CTF Regime. (10) We may pass on information collected from you and relating to transactions as required by the Cayman IslandsMauritius’ AML/CTF Regime or other applicable laws and regulations and we are under no obligations to inform you that we have done so. We may undertake any such anti-money laundering and other checks in relation to you (including sanction lists and countries list) that we deem necessary or appropriate, and we reserve the right to take any associated action without any liability whatsoever to you. (11) You also warrant that: (a) you are not aware and have no reasons to suspect that: (i) the money used to fund your Account has been or will be derived from or is related to any money laundering, terrorism financing or other illegal activities, whether prohibited under Cayman IslandsMauritius’ law, international law or convention, or by agreement; or (ii) the proceeds of your investment will be used to finance any illegal activities. (12) The following figures on your Account are calculated on real time and are detailed as follows: = Deposits – Withdrawals -Withdrawals + Realised Total P&L of closed positions (but does not include the unrealised P&Ls on the open positions) = Initial Margin percentage rate x Contract Quantity x current market price of position = Initial Margin x 50% = Balance + Unrealised Total P&L on open positions + daily total Overnight Funding rate charged for all applicable open positions x number of days – Total of Initial Margins = the total of (P&L + daily Overnight Funding rate x number of days) = Balance + Net P&L Your ‘Available Balance’, ‘Net P&L’ and ‘Equity’ are constantly calculated in line with the market movements. If the ‘Equity’ falls below the total of Initial Margin requirements you will receive an Alert when you log onto your Trading Account and your positions are at risk of being liquidated. If the ‘Equity’ touches orfalls below the total of Maintenance Margin requirements your positions are at immediate risk of being liquidated. It is your responsibility to ensure that your account is sufficiently funded at all times, especially during volatile periods.Margins

Appears in 1 contract

Samples: Client Agreement

Account Establishment. (1) You must complete an online Application Form in order to apply for an Account. We will decide whether to accept your Application Form in our sole discretion and will establish an account in the name of you, who is the person named as the holder of the account. You agree and consent to us, or agents acting on our behalf, making a verification request to an electronic identity verification service provider or other third−party provider as and when Mitrade may engage such service to assist in verifying your identity for the purposes of the Cayman Islands AML/CTF Regime, or related rules and regulations. You also agree and consent to the disclosure of your Personal Information for this purpose including your name, residential address address, Identification number, Nationality, and your date of birth. If you do not wish for your Personal Information to be disclosed to an electronic identity verificationa third−party provider, you must notify us prior to us making the verification request, and we will provider provide you with an alternative means of verifying your identity. (2) Mitrade may impose minimum initial balance requirements from time to time by notice on our website. (3) Mitrade may in its absolute discretion reduce or waive the minimum deposit amount, the minimum account balance, fees (including loyalties or fees for third party services) or transaction charges, for individual clients or for classes of clients, for any length of time, with or without conditions, upon prior notice. (4) Mitrade does not accept property from you as Collateral unless it is to meet Margin Xxxxxx Calls in special agreed circumstances. Any Collateral transferred by you to Mitrade or held by Mitrade on behalf of you is pledged as a security for any liability that you may have towards Mitrade. You warrant that all such Collateral are beneficially owned by you and are and will remain free from any lien, charge, security interest and other encumbrance. If you fail to fulfill any obligation under this Client Agreement, Mitrade is entitled to sell any Collateral immediately without notice and by the means and at the price that Mitrade in its reasonable discretion determines. Mitrade shall not be liable for any loss occasioned by such sale. (5) Where you are more than one person, the account shall be established in both your names as joint tenants unless you specifically advise otherwise (in which case it shall be established in your names as tenants in common). In any case, the parties to such joint account shall each be jointly (together) and severally (individually) liable. (6) No one except you has an interest in your account with Mitrade opened for the purposes of this Client Agreement. (7) Prior to approving your account, you must have successfully completed the suitability assessment to MitradeXxxxxxx’s satisfaction. Notwithstanding this, Mitrade reserves the discretion to deny establishing an account for any person without needing to justify that decision to that person. (8) We also assess your client classification from time to time. If you satisfy the criteria to be classified as a professional client, we may classify you as such, upon prior notice . (9) You acknowledge that we may require information from you from time to time to comply with the Cayman Islands’ AML/CTF Regime. By submitting an Application Form, opening an Account or transacting with us, you undertake to provide us with all information and assistance that we may require to comply with the Cayman Islands’ AML/CTF Regime. (10) We may pass on information collected from you and relating to transactions as required by the Cayman Islands’ AML/CTF Regime or other applicable laws and regulations and we are under no obligations to inform you that we have done so. We may undertake any such anti-money anti−money laundering and other checks in relation to you (including sanction lists and countries list) that we deem necessary or appropriate, and we reserve the right to take any associated action without any liability whatsoever to you. (11) You also warrant that: (a) you are not aware and have no reasons to suspect that: (i) the money used to fund your Account has been or will be derived from or is related to any money laundering, terrorism financing or other illegal activities, whether prohibited under Cayman Islands’ law, international law or convention, or by agreement; or (ii) the proceeds of your investment will be used to finance any illegal activities. (12) The following figures on your Account are calculated on real time and are detailed as follows: = Deposits – Withdrawals −Withdrawals + Realised Total P&L of closed positions (but does not include the unrealised P&Ls on the open positions) = Initial Margin percentage rate x Contract Quantity x opening price of position = Initial Margin x 50% = Balance + Unrealised Total P&L on open positions + daily total Overnight Funding rate charged for all applicable open positions x number of days – Total of Initial Margins = the total of (P&L + daily Overnight Funding rate x number of dayscharged on all open positions) = Balance + Net P&L Your ‘Available Balance’, ‘Net P&L’ and ‘Equity’ are constantly calculated in line with the market movements. If the ‘Equity’ touches or falls below the total of Initial Margin requirements requirement you will receive an Alert alert when you log onto your Trading Account and your positions are at risk of being liquidated. If the ‘Equity’ touches orfalls ” falls below the total of Maintenance Margin requirements requirement your positions are at immediate risk of being liquidated. It is your responsibility to ensure that your account is sufficiently funded at all times, especially during volatile periods.

Appears in 1 contract

Samples: Client Agreement

Account Establishment. (1) You must complete an online Application Form in order to apply for an Account. We will decide whether to accept your Application Form in our sole discretion and will establish an account in the name of you, who is the person named as the holder of the account. You agree and consent to us, or agents acting on our behalf, making a verification request to an electronic identity verification service provider or other third-party provider as and when Mitrade may engage such service to assist in verifying your identity for the purposes of the Cayman Islands AML/CTF RegimeAnti-Money Laundering and Counter-Terrorism Financing Act 2006, or related rules and regulations. You also agree and consent to the disclosure of your Personal Information for this purpose including your name, residential address and your date of birth. If you do not wish for your Personal Information to be disclosed to an electronic identity verificationa third-party provider, you must notify us prior to us making the verification request, and we will provider provide you with an alternative means of verifying your identity. (2) Mitrade may impose minimum initial balance requirements from time to time by notice on our website. (3) Mitrade may in its absolute discretion reduce or waive the minimum deposit amount, the minimum account balance, fees (including loyalties or fees for third party services) or transaction charges, for individual clients or for classes of clients, for any length of time, with or without conditions, upon prior notice. (4) Mitrade does not accept property from you as Collateral unless it is to meet Margin Xxxxxx Calls in special agreed circumstances. Any Collateral transferred by you to Mitrade or held by Mitrade on behalf of you is pledged as a security for any liability that you may have towards Mitrade. You warrant that all such Collateral are beneficially owned by you and are and will remain free from any lien, charge, security interest and other encumbrance. If you fail to fulfill fulfil any obligation under this Client Agreement, Mitrade is entitled to sell any Collateral immediately without notice and by the means and at the price that Mitrade in its reasonable discretion determines. Mitrade shall not be liable for any loss occasioned by such sale. (5) Where you are more than one person, the account shall be established in both your names as joint tenants unless you specifically advise otherwise (in which case it shall be established in your names as tenants in common). In any case, the parties to such joint account shall each be jointly (together) and severally (individually) liable. (6) No one except you has an interest in your account with Mitrade opened for the purposes of this Client Agreement. (7) Prior to approving your account, you must have successfully completed the suitability assessment to MitradeXxxxxxx’s satisfaction. Notwithstanding this, Mitrade reserves the discretion to deny establishing an account for any person without needing to justify that decision to that person. (8) We also assess your client classification from time This document was prepared for wholesale clients only and does not apply to timeRetail clients. If you satisfy You should be aware that wholesale clients are not entitled to the criteria to be classified same statutory protections as a professional client, we may classify you as such, upon prior notice retail clients. (9) You acknowledge that we may require information from you from time to time to comply with the Cayman Islands’ AML/CTF RegimeAct. By submitting an Application Form, opening an Account or transacting with us, you undertake to provide us with all information and assistance that we may require to comply with the Cayman Islands’ AML/CTF RegimeAct. (10) We may pass on information collected from you and relating to transactions as required by the Cayman Islands’ AML/CTF Regime Act or other applicable laws and regulations and we are under no obligations to inform you that we have done so. We may undertake any such anti-money laundering and other checks in relation to you (including sanction lists and countries list) that we deem necessary or appropriate, and we reserve the right to take any associated action without any liability whatsoever to you. (11) You also warrant that: (a) you are not aware and have no reasons to suspect that: (i) the money used to fund your Account has been or will be derived from or is related to any money laundering, terrorism financing or other illegal activities, whether prohibited under Cayman Islands’ Australian law, international law or convention, or by agreement; or (ii) the proceeds of your investment will be used to finance any illegal activities. (12) The following figures on your Account are calculated on real time and are detailed as follows: = Deposits – Withdrawals -Withdrawals + Realised Total P&L of closed positions (but does not include the unrealised P&Ls on the open positions) = Initial Margin percentage rate x Quantity x current market price of position = Initial Margin percentage rate x 50% = Balance + Unrealised Total P&L on open positions + daily Overnight Funding rate for all applicable open positions x number of days – days- Total of Initial Margins = the total of (P&L + daily Overnight Funding rate x number of days) = Balance + Net P&L Your ‘Available Balance’, ‘Initial Margin’, ‘Maintenance Margin’, ‘Net P&L’ and ‘Equity’ are constantly calculated in line with the market movements. If the ‘Equity’ touches or falls below the total of Initial Margin requirements you will receive an Alert alert when you log onto your Trading Account and your positions are at risk of being liquidated. If the Equity’ touches orfalls ” falls below the total of Maintenance Margin requirements your positions are at immediate risk of being liquidated. It is your responsibility to ensure that your account is sufficiently funded at all times, especially during volatile periods.

Appears in 1 contract

Samples: Wholesale Client Agreement

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