INSTRUCTIONS AND ORDERS. 10.1. The Client understands and acknowledges that all orders executed between the Client and the Company are orders executed outside a Regulated Market. 10.2. The Client can open and close a position via its Company’s Trading Platform and add or modify orders by placing Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit on any Financial Instrument. 10.3. The Client’s orders are executed at the Bid and Ask prices that are offered by the Company. The Client places his instant execution request at the prices he sees on his client terminal and the execution process is initiated. Due to the high volatility and the server, the prices requested by the Client and the current market price may change, during this process, in +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx this event, the Company has the right to decline the Client’s requested prices and offer a new quote to the Client. 10.4. The Client may use a Power of Attorney to authorize a third person (representative) to act on behalf of the Client in all business relationships with the Company as defined in this Agreement. The Power of Attorney should be provided to the Company accompanied by all identification documents of the representative. If there is no expiry date, the Power of Attorney will be considered valid until the written termination by the Client. The use of a Power of Attorney is subject to approval of the Company. 10.5. The Company may record telephone conversations, without any prior warning (unless required to do so by Applicable Regulations), to ensure that the material terms of a Transaction and/or order placed by the Client and/or any other material information relating to a Transaction are properly recorded. Such records will be the Company’s property and will be accepted by the Client as evidence of his orders or instructions. The Company may use recordings and/or transcripts thereof for any purpose that it deems desirable. 10.6. The Client acknowledges that the Company has the right to refuse accepting orders and/or instructions by the Client when they are not clear or during the following cases: opening a position, closing a position, modifying or removing orders. 10.7. If any underlying asset of the Financial Instrument becomes subject to possible adjustments as a result of any of the events (referred to as “Corporate Event”), the Company will determine the appropriate adjustment, if any, to be made to the opening/closing price, size, value and/or quantity of the corresponding transaction (and also the level or size of the corresponding orders). The action is made in order to (i) account for the diluting or concentrating effect necessary to preserve the economic equivalent of the rights and obligations of the parties under that transaction immediately prior to that Corporate Event, and/or (ii) replicate the effect of the Corporate Event upon someone with an interest in the relevant underlying security, to be effective from the date determined by the Company. 10.8. The events to which sub-clause above refers to are any of the following, by the declaration of the issuer if a security: ▪ a subdivision, consolidation or reclassification of shares, a share buy-back or cancellation, or a free distribution of bonus shares to existing shareholders, capitalization or share split or reverse share split or similar event; ▪ a distribution to existing holders of the underlying shares or additional shares, other share capital or securities, granting the right to payment of dividends and/or proceeds from the liquidation of the issuer equally proportionate to such payments +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx to holders of the underlying shares, securities, or warrants granting the right to receive or purchase shares for less than the current market price per share; ▪ any other event regarding shares analogous to any of the above events or otherwise having a diluting or concentrating effect on the market value of shares; or ▪ any event analogous to any of the above events or otherwise having a diluting or concentrating effect on the market value of any security not based on shares; ▪ any event that is caused by a merger offer made regarding the company of the underlying asset. 10.9. If any underlying asset of the Financial Instrument becomes subject to a specific risk resulting in a predicted fall in value, the Company reserves the right to restrict short selling or even withdraw the specific or even withdraw the specific Financial Instrument from the Company’s Trading Platform. 10.10. Determination of any adjustment or amendment to the opening/closing price, size, value and/or quantity of the Transaction (and/or the level or size of any order) shall be at the Company’s sole discretion and shall be conclusive and binding upon the Client. 10.11. In the case where the Client has any open positions on the ex-dividend day for any of the underlying assets of the Financial Instrument, the Company has the right to close such positions at the last price of the previous trading day and open the equivalent volume of the underlying Financial Instrument at the first available price on the ex-dividend day. 10.12. The Company shall not be liable for any loss, expense, cost or liability (including consequential loss) suffered or incurred by the Client as a result of instructions being given, or any other communication being made via the internet or other electronic media. The Client will be solely responsible for all orders, and for the accuracy of all information, sent via such electronic media. The Company shall not be held responsible for delays or inaccuracies in the transmission of any instruction, information or the execution of orders due to any cause beyond the reasonable control of the Company. 10.13. The Company shall not be liable for any delays or other errors caused during the transmission of the Client’s order via the Company’s Trading Platforms. The delay can be caused by various reasons depending on the current market conditions (eg. high market volatility) as well as having a slow/weak internet connection between the Client’s terminal or any other trading platform offered by the Company and the Company’s server. +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx 10.14. The Company being dependent on third party technology providers (such as webtrader, etc.) shall not be liable for any loss, expense or cost or liability (including consequential loss) suffered or incurred by the Client, as a result of interruption and/or failure or service from such thirds party technology providers. 10.15. Client’s orders such as Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit on any Financial Instrument shall be executed by the Company at the Client’s requested prices. However, in the case of any communication or technical failure as well as any incorrect reflection on the quotes feed (i.e. prices to freeze/stop updating or price spikes), the Company reserves the right not to execute an order or in case in which the order was executed to change the opening and/or closing price of a particular order or to cancel the said executed order. 10.16. Considering the levels of volatility affecting both price and volume, the Company is constantly seeking to provide client orders with the best execution reasonably possible under the prevailing market conditions. Client’s orders (Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit) are executed at the requested/declared price. However, during periods of volatile market conditions, during news announcements, on opening gaps (trading session starts), or on possible gaps where the underlying instrument has been suspended or restricted on a particular market, Buy/Sell Stop orders or Stop Loss orders above/below Buy Stop/Sell Stop orders during activation will be removed. The same execution policy applies when a trading strategy is deemed as abusive, because it is aiming towards potential riskless profit or another strategy deemed by the Company to be abusive. Accordingly, placing a Stop Loss order will not necessarily limit the Client’s losses at the intended amount. 10.17. Considering the volume of the Client’s order and the current market conditions, the Company has the right to proceed with partial execution. 10.18. The Company has the right at its desecration to increase or decrease spreads of Financial Instruments depending on the current market conditions as well as the size of the Client’s order. 10.19. The swap rate is mainly dependent on the level of interest rates as well as the Company’s fee for having an open position overnight. The Company has the discretion to change the level of the swap rate on each Financial Instrument at any given time and the Client acknowledges that he will be informed by the Company’s Website. The Client further acknowledges that he is responsible for reviewing the Contracts specifications located on the Company’s Website for being updated on the level of swap rate prior to placing any order with the Company. In addition, the Company reserves the right to amend the swap values of a specific Client in case of any suspect of a trading abuse. +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx 10.20. The Company reserves the right to disable and/or enable swap free trading for Client’s Trading Account and/or reverse any cumulative profits derived from the said trading at any given time. This can occur at times where the Client abuses the Company’s trading conditions/systems or where the Client’s trading strategy imposes a threat to the Company’s trading facility or where the Company deems necessary in order to protect the smooth operation of its trading facility. The Client further acknowledges that swap free applies for thirty (30) calendar days only. Therefore, swap free account holding a position open for more than twenty (30) calendar days, will be credited or debited swap accordingly. Note that a storage amount may apply instead for swap free account equivalent to the swap rates. In such case, the storage amount will be credited/debited in the form of deposit/withdrawal from the account equity. 10.21. All orders are placed in lot sizes. The Client further acknowledges that he is responsible for reviewing the Contract Specifications located on the Company’s Website for being updated on the level of swap rate prior to placing any order with the Company. 10.22. The Client can request to change his account leverage at any time by contacting the Company. The Client acknowledges that the Company has the discretion to change the Client’s trading account leverage at any given time, without the Client’s consent, either on a permanent basis or for a limited period of time. 10.23. The Company shall have the right to start closing Client’s positions starting from the most unprofitable, when the margin level is less than 50%. In the case where the margin level is equal to or less than 50%, then Client’s positions are automatically closed, starting from the most unprofitable, at the market price. 10.24. In case where a Client is trading in a way that aims to take advantage of price disparities resulting from rare/occasional price latencies with the purpose of benefiting from a possible pricing arbitrage to the Company’s detriment, either by using additional functionalities/plug- ins (i.e. Expert Adviser, etc.) or by any other means, then the Company has the right to terminate the Trading Account. 10.25. The Company has the right to refuse to execute an order without any given notice and/or explanation to the Client. Among the cases that the Company is entitled to do so are the following (this list is not exhaustive): ▪ If the Client does not have the required funds deposited in the Company’s Client Trading Account; ▪ If the order violates the smooth operation or the reliability of the Company’s Trading Platform; +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx ▪ If the order aims at manipulating the market of the specific Financial Instrument; ▪ If the order is a result of the use of inside confidential information (xxxxxxx xxxxxxx); e.) If the order aims to legalize the proceeds from illegal acts or activities (money laundering). 10.26. It is understood that any refusal by the Company to execute any Order shall not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.
Appears in 1 contract
Samples: Client Agreement
INSTRUCTIONS AND ORDERS.
10.1. The Client understands and acknowledges that all orders executed between the Client and the Company are orders executed outside a Regulated Market.
10.2. The Client can open and close a position via its Company’s Trading Platform and add or modify orders by placing Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit on any Financial Instrument.
10.3. The Client’s orders are executed at the Bid and Ask prices that are offered by the Company. The Client places his instant execution request at the prices he sees on his client terminal and the execution process is initiated. Due to the high volatility and the server, the prices requested by the Client and the current market price may change, during this process, in +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx this event, the Company has the right to decline the Client’s requested prices and offer a new quote to the Client.
10.4. The Client may use a Power of Attorney to authorize a third person (representative) to act on behalf of the Client in all business relationships with the Company as defined in this Agreement. The Power of Attorney should be provided to the Company accompanied by all identification documents of the representative. If there is no expiry date, the Power of Attorney will be considered valid until the written termination by the Client. The use of a Power of Attorney is subject to approval of the Company.
10.5. The Company may record telephone conversations, without any prior warning (unless required to do so by Applicable Regulations), to ensure that the material terms of a Transaction and/or order placed by the Client and/or any other material information relating to a Transaction are properly recorded. Such records will be the Company’s property and will be accepted by the Client as evidence of his orders or instructions. The Company may use recordings and/or transcripts thereof for any purpose that it deems desirable.
10.6. The Client acknowledges that the Company has the right to refuse accepting orders and/or instructions by the Client when they are not clear or during the following cases: opening a position, closing a position, modifying or removing orders.
10.7. If any underlying asset of the Financial Instrument becomes subject to possible adjustments as a result of any of the events (referred to as “Corporate Event”), the Company will determine the appropriate adjustment, if any, to be made to the opening/closing price, size, value and/or quantity of the corresponding transaction (and also the level or size of the corresponding orders). The action is made in order to (i) account for the diluting or concentrating effect necessary to preserve the economic equivalent of the rights and obligations of the parties under that transaction immediately prior to that Corporate Event, and/or (ii) replicate the effect of the Corporate Event upon someone with an interest in the relevant underlying security, to be effective from the date determined by the Company.
10.8. The events to which sub-clause above refers to are any of the following, by the declaration of the issuer if of a security: ▪ a subdivision, consolidation or reclassification of shares, a share buy-back or cancellation, or a free distribution of bonus shares to existing shareholders, capitalization or share split or reverse share split or similar event; ▪ a distribution to existing holders of the underlying shares or additional shares, other share capital or securities, granting the right to payment of dividends and/or proceeds from the liquidation of the issuer equally proportionate to such payments +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx payments; ▪ to holders of the underlying shares, securities, or warrants granting the right to receive or purchase shares for less than the current market price per share; ▪ any other event regarding shares analogous to any of the above events or otherwise having a diluting or concentrating effect on the market value of shares; or ▪ any event analogous to any of the above events or otherwise having a diluting or concentrating effect on the market value of any security not based on shares; ▪ any event that is caused by a merger offer made regarding the company of the underlying asset.
10.9. If any underlying asset of the Financial Instrument becomes subject to a specific risk resulting in a predicted fall in value, the Company reserves the right to restrict short selling or even withdraw the specific or even withdraw the specific Financial Instrument from the Company’s Trading Platform.
10.10. Determination of any adjustment or amendment to the opening/closing price, size, value and/or quantity of the Transaction (and/or the level or size of any order) shall be at the Company’s sole discretion and shall be conclusive and binding upon the Client.
10.11. In the case where the Client has any open positions on the ex-dividend day for any of the underlying assets of the Financial Instrument, the Company has the right to close such positions at the last price of the previous trading day and open the equivalent volume of the underlying Financial Instrument at the first available price on the ex-dividend day.
10.12. The Company shall not be liable for any loss, expense, cost or liability (including consequential loss) suffered or incurred by the Client as a result of instructions being given, or any other communication being made via the internet or other electronic media. The Client will be solely responsible for all orders, and for the accuracy of all information, sent via such electronic media. The Company shall not be held responsible for delays or inaccuracies in the transmission of any instruction, information or the execution of orders due to any cause beyond the reasonable control of the Company.
10.13. The Company shall not be liable for any delays or other errors caused during the transmission of the Client’s order via the Company’s Trading Platforms. The delay can be caused by various reasons depending on the current market conditions (eg. high market volatility) as well as having a slow/weak internet connection between the Client’s terminal or any other trading platform offered by the Company and the Company’s server. +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx.
10.14. The Company being dependent on third party technology providers (such as webtrader, etc.) shall not be liable for any loss, expense or cost or liability (including consequential loss) suffered or incurred by the Client, as a result of interruption and/or failure or service from such thirds party technology providers.
10.15. Client’s orders such as Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit on any Financial Instrument shall be executed by the Company at the Client’s requested prices. However, in the case of any communication or technical failure as well as any incorrect reflection on the quotes feed (i.e. prices to freeze/stop updating or price spikes), the Company reserves the right not to execute an order or in case in which the order was executed to change the opening and/or closing price of a particular order or to cancel the said executed order.
10.16. Considering the levels of volatility affecting both price and volume, the Company is constantly seeking to provide client orders with the best execution reasonably possible under the prevailing market conditions. Client’s orders (Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit) are executed at the requested/declared price. However, during periods of volatile market conditions, during news announcements, on opening gaps (trading session starts), or on possible gaps where the underlying instrument has been suspended or restricted on a particular market, Buy/Sell Stop orders or Stop Loss orders above/below Buy Stop/Sell Stop orders during activation will be removed. The same execution policy applies when a trading strategy is deemed as abusive, because it is aiming towards potential riskless profit or another strategy deemed by the Company to be abusive. Accordingly, placing a Stop Loss order will not necessarily limit the Client’s losses at the intended amount.
10.17. Considering the volume of the Client’s order and the current market conditions, the Company has the right to proceed with partial execution.
10.18. The Company has the right at its desecration to increase or decrease spreads of Financial Instruments depending on the current market conditions as well as the size of the Client’s order.
10.19. The swap rate is mainly dependent on the level of interest rates as well as the Company’s fee for having an open position overnight. The Company has the discretion to change the level of the swap rate on each Financial Instrument at any given time and the Client acknowledges that he will be informed by the Company’s Website. The Client further acknowledges that he is responsible for reviewing the Contracts specifications located on the Company’s Website for being updated on the level of swap rate prior to placing any order with the Company. In addition, the Company reserves the right to amend the swap values of a specific Client in case of any suspect of a trading abuse. +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx.
10.20. The Company reserves the right to disable and/or enable swap free trading for Client’s Trading Account and/or reverse any cumulative profits derived from the said trading at any given time. This can occur at times where the Client abuses the Company’s trading conditions/systems or where the Client’s trading strategy imposes a threat to the Company’s trading facility or where the Company deems necessary in order to protect the smooth operation of its trading facility. The Client further acknowledges that swap free applies for thirty (30) calendar days only. Therefore, swap free account holding a position open for more than twenty (30) calendar days, will be credited or debited swap accordingly. Note that a storage amount may apply instead for swap free account equivalent to the swap rates. In such case, the storage amount will be credited/debited in the form of deposit/withdrawal from the account equity.
10.21. All orders are placed in lot sizes. The Client further acknowledges that he is responsible for reviewing the Contract Specifications located on the Company’s Website for being updated on the level of swap rate prior to placing any order with the Company.
10.22. The Client can request to change his account leverage at any time by contacting the Company. The Client acknowledges that the Company has the discretion to change the Client’s trading account leverage at any given time, without the Client’s consent, either on a permanent basis or for a limited period of time.
10.23. The Company shall have the right to start closing Client’s positions starting from the most unprofitable, when the margin level is less than 50%. In the case where the margin level is equal to or less than 5040%, then Client’s positions are automatically closed, starting from the most unprofitable, at the market price.
10.24. In case where a Client is trading in a way that aims to take advantage of price disparities resulting from rare/occasional price latencies with the purpose of benefiting from a possible pricing arbitrage to the Company’s detriment, either by using additional functionalities/plug- ins (i.e. Expert Adviser, etc.) or by any other means, then the Company has the right to terminate the Trading Account.
10.25. The Company has the right to refuse to execute an order without any given notice and/or explanation to the Client. Among the cases that the Company is entitled to do so are the following (this list is not exhaustive): ▪ If if the Client does not have the required funds deposited in the Company’s Client Trading Account; ▪ If if the order violates the smooth operation or the reliability of the Company’s Trading Platform; +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx ▪ If if the order aims at manipulating the market of the specific Financial Instrument; ▪ If if the order is a result of the use of inside confidential information (xxxxxxx xxxxxxx); e.) If the order aims to legalize the proceeds from illegal acts or activities (money laundering).
10.26. It is understood that any refusal by the Company to execute any Order shall not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.
Appears in 1 contract
Samples: Client Agreement
INSTRUCTIONS AND ORDERS. 10.13.1. All instruction must be written instructions (including internet e-mail) of the Client or any persons authorised in writing by the Client (the “Authorised Persons”). Notwithstanding the receipt by SRDFS of such written instructions, SRDFS shall be under no obligation to give effect to any such instructions and is entitled to refuse to carry out such instructions without giving any reason for such refusal.
3.2. Unless the Client specifically requests and such request is accepted by SRDFS, any orders given by the Client are good only for the Business Day of the Applicable Market and shall thereafter lapse at the end of such Business Day.
3.3. The Client understands shall be solely responsible and acknowledges that all orders executed liable for the actions or instructions of the Authorised Persons. SRDFS shall not be concerned as to whether an Authorised Person has been given the proper authority by the Client to act on his behalf in a Transaction and shall not be obliged to verify with the Client whether he has in fact authorized the instructions given by the Authorised Persons purportedly on behalf of the Client.
3.4. Where any dispute arises between the Client and the Company are orders executed outside a Regulated Market.
10.2. The Client can open and close a position via its Company’s Trading Platform and add SRDFS in connection with or modify orders by placing Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit on any Financial Instrument.
10.3. The Client’s orders are executed at the Bid and Ask prices that are offered by the Company. The Client places his instant execution request at the prices he sees on his client terminal and the execution process is initiated. Due relating to the high volatility and the serverinstructions, the prices requested whether electronic or otherwise, given by the Client and or the current market price may changeAuthorised Person, during this process, in +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx this event, the Company has the right to decline the Client’s requested prices and offer a new quote to the ClientSRDFS's record of such instructions shall prevail.
10.4. The Client may use a Power of Attorney to authorize a third person (representative) to act on behalf of the Client in all business relationships with the Company as defined in this Agreement. The Power of Attorney should be provided to the Company accompanied by all identification documents of the representative. If there is no expiry date, the Power of Attorney will be considered valid until the written termination by the Client. The use of a Power of Attorney is subject to approval of the Company.
10.5. The Company may record telephone conversations, without any prior warning (unless required to do so by Applicable Regulations), to ensure that the material terms of a Transaction and/or order placed by the Client and/or any other material information relating to a Transaction are properly recorded. Such records will be the Company’s property and will be accepted by the Client as evidence of his orders or instructions. The Company may use recordings and/or transcripts thereof for any purpose that it deems desirable.
10.63.5. The Client acknowledges and accepts that when placing orders for Transactions, there will be times when a quoted price will change prior to the Company has trade's execution due to market circumstances (including but not limited to rapidly changing prices, delays in making price or in dealing) and that not all orders will be executed in chronological sequence with the right order being placed. In such circumstances, the Client agrees to refuse accepting orders and/or instructions release SRDFS from any liability arising from such price changes.
3.6. The Client agrees in any event to accept and to be bound by the Client outcome when they are not clear or during the following cases: opening any discretion is given to SRDFS to execute a position, closing a position, modifying or removing orders.
10.7. If any underlying asset of the Financial Instrument becomes subject to possible adjustments as a result of any of the events (referred to as “Corporate Event”), the Company will determine the appropriate adjustment, if any, to be made to the opening/closing price, size, value and/or quantity of the corresponding transaction (and also the level or size of the corresponding orders)Transaction. The action is made in order Client agrees to (i) account for the diluting or concentrating effect necessary to preserve the economic equivalent of the rights fulfill and obligations of the parties under perform all such Transactions and that transaction immediately prior to that Corporate Event, and/or (ii) replicate the effect of the Corporate Event upon someone with an interest in the relevant underlying security, to be effective from the date determined by the Company.
10.8. The events to which sub-clause above refers to are any of the following, by the declaration of the issuer if a security: ▪ a subdivision, consolidation or reclassification of shares, a share buy-back or cancellation, or a free distribution of bonus shares to existing shareholders, capitalization or share split or reverse share split or similar event; ▪ a distribution to existing holders of the underlying shares or additional shares, other share capital or securities, granting the right to payment of dividends and/or proceeds from the liquidation of the issuer equally proportionate to such payments +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx to holders of the underlying shares, securities, or warrants granting the right to receive or purchase shares for less than the current market price per share; ▪ any other event regarding shares analogous to any of the above events or otherwise having a diluting or concentrating effect on the market value of shares; or ▪ any event analogous to any of the above events or otherwise having a diluting or concentrating effect on the market value of any security not based on shares; ▪ any event that is caused by a merger offer made regarding the company of the underlying asset.
10.9. If any underlying asset of the Financial Instrument becomes subject to a specific risk resulting in a predicted fall in value, the Company reserves the right to restrict short selling or even withdraw the specific or even withdraw the specific Financial Instrument from the Company’s Trading Platform.
10.10. Determination of any adjustment or amendment to the opening/closing price, size, value and/or quantity of the Transaction (and/or the level or size of any order) shall be at the Company’s sole discretion and shall be conclusive and binding upon the Client.
10.11. In the case where the Client has any open positions on the ex-dividend day for any of the underlying assets of the Financial Instrument, the Company has the right to close such positions at the last price of the previous trading day and open the equivalent volume of the underlying Financial Instrument at the first available price on the ex-dividend day.
10.12. The Company SRDFS shall not incur or sustain or be liable for any loss, expense, cost loss in that connection incurred or liability (including consequential loss) suffered or incurred sustained by the Client as a result of any failure to carry out the orders or instructions being given, of the Client or any other communication being made via the internet or other electronic mediaAuthorised Person.
3.7. The Client will be solely responsible for all ordersalso agrees that SRDFS may make arrangements with and/or employ third parties to carry out, and for the accuracy of all informationor perform, sent via such electronic media. The Company shall not be held responsible for delays any part, or inaccuracies in the transmission of any instructionall, information or the execution of orders due to any cause beyond the reasonable control of the Company.
10.13. The Company shall not be liable for any delays or other errors caused during the transmission of the Client’s order via the Company’s Trading Platforms. The delay can be caused by various reasons depending on the current market conditions (eg. high market volatility) as well as having a slow/weak internet connection between the Client’s terminal or any other trading platform offered by the Company and the Company’s server. +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx
10.14. The Company being dependent on third party technology providers (such as webtrader, etc.) shall not be liable for any loss, expense or cost or liability (including consequential loss) suffered or incurred by the Client, as a result of interruption and/or failure or service from such thirds party technology providers.
10.15. Client’s orders such as Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit on any Financial Instrument shall be executed by the Company at the Client’s requested prices. However, in the case of any communication or technical failure as well as any incorrect reflection on the quotes feed (i.e. prices to freeze/stop updating or price spikes), the Company reserves the right not to execute an order or in case in which the order was executed to change the opening and/or closing price of a particular order or to cancel the said executed order.
10.16. Considering the levels of volatility affecting both price and volume, the Company is constantly seeking to provide client orders with the best execution reasonably possible under the prevailing market conditions. Client’s orders (Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit) are executed at the requested/declared price. However, during periods of volatile market conditions, during news announcements, on opening gaps (trading session starts), or on possible gaps where the underlying instrument has been suspended or restricted on a particular market, Buy/Sell Stop orders or Stop Loss orders above/below Buy Stop/Sell Stop orders during activation will be removed. The same execution policy applies when a trading strategy is deemed as abusive, because it is aiming towards potential riskless profit or another strategy deemed by the Company to be abusive. Accordingly, placing a Stop Loss order will not necessarily limit the Client’s losses at the intended amount.
10.17. Considering the volume of the Client’s order and the current market conditions, the Company has the right to proceed with partial execution.
10.18. The Company has the right at its desecration to increase or decrease spreads of Financial Instruments depending on the current market conditions as well as the size of the Client’s order.
10.19. The swap rate is mainly dependent on the level of interest rates as well as the Company’s fee for having an open position overnight. The Company has the discretion to change the level of the swap rate on each Financial Instrument at any given time and the Client acknowledges that he will be informed by the Company’s WebsiteTransaction. The Client further also acknowledges and agrees that he is responsible for reviewing SRDFS and such third party service providers are only the Contracts specifications located on agents of the Company’s Website for being updated on the level of swap rate prior to placing any order with the Company. In addition, the Company reserves the right to amend the swap values of a specific Client in case of any suspect of a trading abuse. +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx
10.20. The Company reserves the right to disable and/or enable swap free trading for Client’s Trading Account and/or reverse any cumulative profits derived from the said trading at any given time. This can occur at times where the Client abuses the Company’s trading conditions/systems or where the Client’s trading strategy imposes a threat to the Company’s trading facility or where the Company deems necessary in order to protect the smooth operation of its trading facility. The Client further acknowledges that swap free applies for thirty (30) calendar days only. Therefore, swap free account holding a position open for more than twenty (30) calendar days, will be credited or debited swap accordingly. Note that a storage amount may apply instead for swap free account equivalent to the swap rates. In such case, the storage amount will be credited/debited in the form of deposit/withdrawal from the account equityTransactions.
10.21. All orders are placed in lot sizes. The Client further acknowledges that he is responsible for reviewing the Contract Specifications located on the Company’s Website for being updated on the level of swap rate prior to placing any order with the Company.
10.22. The Client can request to change his account leverage at any time by contacting the Company. The Client acknowledges that the Company has the discretion to change the Client’s trading account leverage at any given time, without the Client’s consent, either on a permanent basis or for a limited period of time.
10.23. The Company shall have the right to start closing Client’s positions starting from the most unprofitable, when the margin level is less than 50%. In the case where the margin level is equal to or less than 50%, then Client’s positions are automatically closed, starting from the most unprofitable, at the market price.
10.24. In case where a Client is trading in a way that aims to take advantage of price disparities resulting from rare/occasional price latencies with the purpose of benefiting from a possible pricing arbitrage to the Company’s detriment, either by using additional functionalities/plug- ins (i.e. Expert Adviser, etc.) or by any other means, then the Company has the right to terminate the Trading Account.
10.25. The Company has the right to refuse to execute an order without any given notice and/or explanation to the Client. Among the cases that the Company is entitled to do so are the following (this list is not exhaustive): ▪ If the Client does not have the required funds deposited in the Company’s Client Trading Account; ▪ If the order violates the smooth operation or the reliability of the Company’s Trading Platform; +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx ▪ If the order aims at manipulating the market of the specific Financial Instrument; ▪ If the order is a result of the use of inside confidential information (xxxxxxx xxxxxxx); e.) If the order aims to legalize the proceeds from illegal acts or activities (money laundering).
10.26. It is understood that any refusal by the Company to execute any Order shall not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.
Appears in 1 contract
Samples: General Terms and Conditions
INSTRUCTIONS AND ORDERS. 10.1. The Client understands and acknowledges that all orders executed between the Client and the Company are orders executed outside a Regulated Market.
10.2. The Client can open and close a position via its Company’s Trading Platform and add or modify orders by placing Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit on any Financial Instrument.
10.3. The Client’s orders are executed at the Bid and Ask prices that are offered by the Company. The Client places his instant execution request at the prices he sees on his client terminal and the execution process is initiated. Due to the high volatility and the server, the prices requested by the Client and the current market price may change, during this process, in +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx this event, the Company has the right to decline the Client’s requested prices and offer a new quote to the Client.
10.4. The Client may use a Power of Attorney to authorize a third person (representative) to act on behalf of the Client in all business relationships with the Company as defined in this Agreement. The Power of Attorney should be provided to the Company accompanied by all identification documents of the representative. If there is no expiry date, the Power of Attorney will be considered valid until the written termination by the Client. The use of a Power of Attorney is subject to approval of the Company.
10.5. The Company may record telephone conversations, without any prior warning (unless required to do so by Applicable Regulations), to ensure that the material terms of a Transaction and/or order placed by the Client and/or any other material information relating to a Transaction are properly recorded. Such records will be the Company’s property and will be accepted by the Client as evidence of his orders or instructions. The Company may use recordings and/or transcripts thereof for any purpose that it deems desirable.
10.6. The Client acknowledges that the Company has the right to refuse accepting orders and/or instructions by the Client when they are not clear or during the following cases: opening a position, closing a position, modifying or removing orders.
10.7. If any underlying asset of the Financial Instrument becomes subject to possible adjustments as a result of any of the events (referred to as “Corporate Event”), the Company will determine the appropriate adjustment, if any, to be made to the opening/closing price, size, value and/or quantity of the corresponding transaction (and also the level or size of the corresponding orders). The action is made in order to (i) account for the diluting or concentrating effect necessary to preserve the economic equivalent of the rights and obligations of the parties under that transaction immediately prior to that Corporate Event, and/or (ii) replicate the effect of the Corporate Event upon someone with an interest in the relevant underlying security, to be effective from the date determined by the Company.
10.8. The events to which sub-clause above refers to are any of the following, by the declaration of the issuer if a security: ▪ a subdivision, consolidation or reclassification of shares, a share buy-back or cancellation, or a free distribution of bonus shares to existing shareholders, capitalization or share split or reverse share split or similar event; ▪ a distribution to existing holders of the underlying shares or additional shares, other share capital or securities, granting the right to payment of dividends and/or proceeds from the liquidation of the issuer equally proportionate to such payments +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx to holders of the underlying shares, securities, or warrants granting the right to receive or purchase shares for less than the current market price per share; ▪ any other event regarding shares analogous to any of the above events or otherwise having a diluting or concentrating effect on the market value of shares; or ▪ any event analogous to any of the above events or otherwise having a diluting or concentrating effect on the market value of any security not based on shares; ▪ any event that is caused by a merger offer made regarding the company of the underlying asset.
10.9. If any underlying asset of the Financial Instrument becomes subject to a specific risk resulting in a predicted fall in value, the Company reserves the right to restrict short selling or even withdraw the specific or even withdraw the specific Financial Instrument from the Company’s Trading Platform.
10.10. Determination of any adjustment or amendment to the opening/closing price, size, value and/or quantity of the Transaction (and/or the level or size of any order) shall be at the Company’s sole discretion and shall be conclusive and binding upon the Client.
10.11. In the case where the Client has any open positions on the ex-dividend day for any of the underlying assets of the Financial Instrument, the Company has the right to close such positions at the last price of the previous trading day and open the equivalent volume of the underlying Financial Instrument at the first available price on the ex-dividend day.
10.12. The Company shall not be liable for any loss, expense, cost or liability (including consequential loss) suffered or incurred by the Client as a result of instructions being given, or any other communication being made via the internet or other electronic media. The Client will be solely responsible for all orders, and for the accuracy of all information, sent via such electronic media. The Company shall not be held responsible for delays or inaccuracies in the transmission of any instruction, information or the execution of orders due to any cause beyond the reasonable control of the Company.
10.13. The Company shall not be liable for any delays or other errors caused during the transmission of the Client’s order via the Company’s Trading Platforms. The delay can be caused by various reasons depending on the current market conditions (eg. high market volatility) as well as having a slow/weak internet connection between the Client’s terminal or any other trading platform offered by the Company and the Company’s server. +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx.
10.14. The Company being dependent on third party technology providers (such as webtrader, etc.) shall not be liable for any loss, expense or cost or liability (including consequential loss) suffered or incurred by the Client, as a result of interruption and/or failure or service from such thirds party technology providers.
10.15. Client’s orders such as Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit on any Financial Instrument shall be executed by the Company at the Client’s requested prices. However, in the case of any communication or technical failure as well as any incorrect reflection on the quotes feed (i.e. prices to freeze/stop updating or price spikes), the Company reserves the right not to execute an order or in case in which the order was executed to change the opening and/or closing price of a particular order or to cancel the said executed order.
10.16. Considering the levels of volatility affecting both price and volume, the Company is constantly seeking to provide client orders with the best execution reasonably possible under the prevailing market conditions. Client’s orders (Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit) are executed at the requested/declared price. However, during periods of volatile market conditions, during news announcements, on opening gaps (trading session starts), or on possible gaps where the underlying instrument has been suspended or restricted on a particular market, Buy/Sell Stop orders or Stop Loss orders above/below Buy Stop/Sell Stop orders during activation will be removed. The same execution policy applies when a trading strategy is deemed as abusive, because it is aiming towards potential riskless profit or another strategy deemed by the Company to be abusive. Accordingly, placing a Stop Loss order will not necessarily limit the Client’s losses at the intended amount.
10.17. Considering the volume of the Client’s order and the current market conditions, the Company has the right to proceed with partial execution.
10.18. The Company has the right at its desecration to increase or decrease spreads of Financial Instruments depending on the current market conditions as well as the size of the Client’s order.
10.19. The swap rate is mainly dependent on the level of interest rates as well as the Company’s fee for having an open position overnight. The Company has the discretion to change the level of the swap rate on each Financial Instrument at any given time and the Client acknowledges that he will be informed by the Company’s Website. The Client further acknowledges that he is responsible for reviewing the Contracts specifications located on the Company’s Website for being updated on the level of swap rate prior to placing any order with the Company. In addition, the Company reserves the right to amend the swap values of a specific Client in case of any suspect of a trading abuse. +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx.
10.20. The Company reserves the right to disable and/or enable swap free trading for Client’s Trading Account and/or reverse any cumulative profits derived from the said trading at any given time. This can occur at times where the Client abuses the Company’s trading conditions/systems or where the Client’s trading strategy imposes a threat to the Company’s trading facility or where the Company deems necessary in order to protect the smooth operation of its trading facility. The Client further acknowledges that swap free applies for thirty (30) calendar days only. Therefore, swap free account holding a position open for more than twenty thirty (30) calendar days, will be credited or debited swap accordingly. Note that a storage amount may apply instead for swap free account equivalent to the swap rates. In such case, the storage amount will be credited/debited in the form of deposit/withdrawal from the account equity.
10.21. All orders are placed in lot sizes. The Client further acknowledges that he is responsible for reviewing the Contract Specifications located on the Company’s Website for being updated on the level of swap rate prior to placing any order with the Company.
10.22. The Client can request to change his account leverage at any time by contacting the Company. The Client acknowledges that the Company has the discretion to change the Client’s trading account leverage at any given time, without the Client’s consent, either on a permanent basis or for a limited period of time.
10.23. The Company shall have the right to start closing Client’s positions starting from the most unprofitable, when the margin level is less than 50%. In the case where the margin level is equal to or less than 50%, then Client’s positions are automatically closed, starting from the most unprofitable, at the market price.
10.24. In case where a Client is trading in a way that aims to take advantage of price disparities resulting from rare/occasional price latencies with the purpose of benefiting from a possible pricing arbitrage to the Company’s detriment, either by using additional functionalities/plug- plug-ins (i.e. Expert Adviser, etc.) or by any other means, then the Company has the right to terminate the Trading Account.
10.25. The Company has the right to refuse to execute an order without any given notice and/or explanation to the Client. Among the cases that the Company is entitled to do so are the following (this list is not exhaustive): ▪ If the Client does not have the required funds deposited in the Company’s Client Trading Account; ▪ If the order violates the smooth operation or the reliability of the Company’s Trading Platform; +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx ▪ If the order aims at manipulating the market of the specific Financial Instrument; ▪ If the order is a result of the use of inside confidential information (xxxxxxx xxxxxxx); e.) If the order aims to legalize the proceeds from illegal acts or activities (money laundering).
10.26. It is understood that any refusal by the Company to execute any Order shall not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.
Appears in 1 contract
Samples: Client Agreement
INSTRUCTIONS AND ORDERS. 10.1. The Client understands and acknowledges that all orders executed between the Client and the Company are orders executed outside a Regulated Market.
10.2. The Client can open and close a position via its Company’s Trading Platform and add or modify orders by placing Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit on any Financial Instrument.
10.3. The Client’s orders are executed at the Bid and Ask prices that are offered by the Company. The Client places his instant execution request at the prices he sees on his client terminal and the execution process is initiated. Due to the high volatility and the server, the prices requested by the Client and the current market price may change, during this process, in +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx this event, the Company has the right to decline the Client’s requested prices and offer a new quote to the Client.
10.4. The Client may use a Power of Attorney to authorize a third person (representative) to act on behalf of the Client in all business relationships with the Company as defined in this Agreement. The Power of Attorney should be provided to the Company accompanied by all identification documents of the representative. If there is no expiry date, the Power of Attorney will be considered valid until the written termination by the Client. The use of a Power of Attorney is subject to approval of the Company.
10.5. The Company may record telephone conversations, without any prior warning (unless required to do so by Applicable Regulations), to ensure that the material terms of a Transaction and/or order placed by the Client and/or any other material information relating to a Transaction are properly recorded. Such records will be the Company’s property and will be accepted by the Client as evidence of his orders or instructions. The Company may use recordings and/or transcripts thereof for any purpose that it deems desirable.
10.6. The Client acknowledges that the Company has the right to refuse accepting orders and/or instructions by the Client when they are not clear or during the following cases: opening a position, closing a position, modifying or removing orders.
10.7. If any underlying asset of the Financial Instrument becomes subject to possible adjustments as a result of any of the events (referred to as “Corporate Event”), the Company will determine the appropriate adjustment, if any, to be made to the opening/closing price, size, value and/or quantity of the corresponding transaction (and also the level or size of the corresponding orders). The action is made in order to (i) account for the diluting or concentrating effect necessary to preserve the economic equivalent of the rights and obligations of the parties under that transaction immediately prior to that Corporate Event, and/or (ii) replicate the effect of the Corporate Event upon someone with an interest in the relevant underlying security, to be effective from the date determined by the Company.
10.8. The events to which sub-clause above refers to are any of the following, by the declaration of the issuer if of a security: ▪ a subdivision, consolidation or reclassification of shares, a share buy-back or cancellation, or a free distribution of bonus shares to existing shareholders, capitalization or share split or reverse share split or similar event; ▪ a distribution to existing holders of the underlying shares or additional shares, other share capital or securities, granting the right to payment of dividends and/or proceeds from the liquidation of the issuer equally proportionate to such payments +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx payments; ▪ to holders of the underlying shares, securities, or warrants granting the right to receive or purchase shares for less than the current market price per share; ▪ any other event regarding shares analogous to any of the above events or otherwise having a diluting or concentrating effect on the market value of shares; or ▪ any event analogous to any of the above events or otherwise having a diluting or concentrating effect on the market value of any security not based on shares; ▪ any event that is caused by a merger offer made regarding the company of the underlying asset.
10.9. If any underlying asset of the Financial Instrument becomes subject to a specific risk resulting in a predicted fall in value, the Company reserves the right to restrict short selling or even withdraw the specific or even withdraw the specific Financial Instrument from the Company’s Trading Platform.
10.10. Determination of any adjustment or amendment to the opening/closing price, size, value and/or quantity of the Transaction (and/or the level or size of any order) shall be at the Company’s sole discretion and shall be conclusive and binding upon the Client.
10.11. In the case where the Client has any open positions on the ex-dividend day for any of the underlying assets of the Financial Instrument, the Company has the right to close such positions at the last price of the previous trading day and open the equivalent volume of the underlying Financial Instrument at the first available price on the ex-dividend day.
10.12. The Company shall not be liable for any loss, expense, cost or liability (including consequential loss) suffered or incurred by the Client as a result of instructions being given, or any other communication being made via the internet or other electronic media. The Client will be solely responsible for all orders, and for the accuracy of all information, sent via such electronic media. The Company shall not be held responsible for delays or inaccuracies in the transmission of any instruction, information or the execution of orders due to any cause beyond the reasonable control of the Company.
10.13. The Company shall not be liable for any delays or other errors caused during the transmission of the Client’s order via the Company’s Trading Platforms. The delay can be caused by various reasons depending on the current market conditions (eg. high market volatility) as well as having a slow/weak internet connection between the Client’s terminal or any other trading platform offered by the Company and the Company’s server. +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx.
10.14. The Company being dependent on third party technology providers (such as webtrader, etc.) shall not be liable for any loss, expense or cost or liability (including consequential loss) suffered or incurred by the Client, as a result of interruption and/or failure or service from such thirds party technology providers.
10.15. Client’s orders such as Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit on any Financial Instrument shall be executed by the Company at the Client’s requested prices. However, in the case of any communication or technical failure as well as any incorrect reflection on the quotes feed (i.e. prices to freeze/stop updating or price spikes), the Company reserves the right not to execute an order or in case in which the order was executed to change the opening and/or closing price of a particular order or to cancel the said executed order.
10.16. Considering the levels of volatility affecting both price and volume, the Company is constantly seeking to provide client orders with the best execution reasonably possible under the prevailing market conditions. Client’s orders (Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit) are executed at the requested/declared price. However, during periods of volatile market conditions, during news announcements, on opening gaps (trading session starts), or on possible gaps where the underlying instrument has been suspended or restricted on a particular market, Buy/Sell Stop orders or Stop Loss orders aboveordersabove/below Buy Stop/Sell Stop orders during activation will be removed. The same execution policy applies when a trading strategy is deemed as abusive, because it is aiming towards potential riskless profit or another strategy deemed by the Company to be abusive. Accordingly, ,placing a Stop Loss order will not necessarily limit the Client’s losses at the intended amount.
10.17. Considering the volume of the Client’s order and the current market conditions, the Company has the right to proceed with partial execution.
10.18. The Company has the right at its desecration to increase or decrease spreads of Financial Instruments depending on the current market conditions as well as the size of the Client’s order.
10.19. The swap rate is mainly dependent on the level of interest rates as well as the Company’s fee for feefor having an open position overnight. The Company has the discretion to change the level of the swap rate on each Financial Instrument at any given time and the Client acknowledges that he will be informed by the Company’s Website. The Client further acknowledges that he is responsible for reviewing the Contracts specifications located on the Company’s Website for being updated on the level of swap rate prior to placing any order with the Company. In addition, the Company reserves the right to amend the swap values of a specific Client in case of caseof any suspect of a trading abuse. +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx.
10.20. The Company reserves the right to disable and/or enable swap free trading for Client’s Trading Account and/or reverse any cumulative profits derived from the said trading at any given time. This can occur at times where the Client abuses the Company’s trading conditions/systems or where the Client’s trading strategy imposes a threat to the Company’s trading facility or where the Company deems necessary in order to protect the smooth operation of its trading facility. The Client further acknowledges that swap free applies for thirty (30) calendar days only. Therefore, swap free account holding a position open for more than twenty (30) calendar days, will be credited or debited swap accordingly. Note that a storage amount may apply instead for swap free account equivalent to the swap rates. In such case, the storage amount will be credited/debited in the form of deposit/withdrawal from the account equity.
10.21. All orders are placed in lot sizes. The Client further acknowledges that he is responsible for reviewing the Contract Specifications located on the Company’s Website for being updated on the level of swap rate prior to placing any order with the Company.
10.22. The Client can request to change his account leverage at any time by contacting the Company. The Client acknowledges that the Company has the discretion to change the Client’s trading account leverage at any given time, without the Client’s consent, either on a permanent basis or for a limited period of time.
10.23. The Company shall have the right to start closing Client’s positions starting from the most unprofitable, when the margin level is less than 50%. In the case where the margin level is equal to or less than 5040%, then Client’s positions are automatically closed, starting from the most unprofitable, at the market price.
10.24. In case where a Client is trading in a way that aims to take advantage of price disparities resulting from rare/occasional price latencies with the purpose of benefiting from a possible pricing arbitrage to the Company’s detriment, either by using additional functionalities/plug- plug-ins (i.e. Expert Adviser, etc.) or by any other means, then the Company has the right to terminate toterminate the Trading Account.
10.25. The Company has the right to refuse to execute an order without any given notice and/or explanation to the Client. Among the cases that the Company is entitled to do so are the following (this list is not exhaustive): ▪ If if the Client does not have the required funds deposited in the Company’s Client Trading Account; ▪ If if the order violates the smooth operation or the reliability of the Company’s Trading Platform; +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx ▪ If if the order aims at manipulating the market of the specific Financial Instrument; ▪ If if the order is a result of the use of inside confidential information (xxxxxxx xxxxxxx); e.) If the order aims to legalize the proceeds from illegal acts or activities (money laundering).
10.26. It is understood that any refusal by the Company to execute any Order shall not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.
Appears in 1 contract
Samples: Client Agreement
INSTRUCTIONS AND ORDERS. 10.1. The Client understands and acknowledges that all orders executed between the Client and the Company are orders executed outside a Regulated Market.
10.2. The Client can open and close a position via its Company’s Trading Platform and add or modify orders by placing Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit on any Financial Instrument.
10.3. The Client’s orders are executed at the Bid and Ask prices that are offered by the Company. The Client places his instant execution request at the prices he sees on his client terminal and the execution process is initiated. Due to the high volatility and the server, the prices requested by the Client and the current market price may change, during this process, in +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx this event, the Company has the right to decline the Client’s requested prices and offer a new quote to the Client.
10.4. The Client may use a Power of Attorney to authorize a third person (representative) to act on behalf of the Client in all business relationships with the Company as defined in this Agreement. The Power of Attorney should be provided to the Company accompanied by all identification documents of the representative. If there is no expiry date, the Power of Attorney will be considered valid until the written termination by the Client. The use of a Power of Attorney is subject to approval of the Company.
10.5. The Company may record telephone conversations, without any prior warning (unless required to do so by Applicable Regulations), to ensure that the material terms of a Transaction and/or order placed by the Client and/or any other material information relating to a Transaction are properly recorded. Such records will be the Company’s property and will be accepted by the Client as evidence of his orders or instructions. The Company may use recordings and/or transcripts thereof for any purpose that it deems desirable.
10.6. The Client acknowledges that the Company has the right to refuse accepting orders and/or instructions by the Client when they are not clear or during the following cases: opening a position, closing a position, modifying or removing orders.
10.7. If any underlying asset of the Financial Instrument becomes subject to possible adjustments as a result of any of the events (referred to as “Corporate Event”), the Company will determine the appropriate adjustment, if any, to be made to the opening/closing price, size, value and/or quantity of the corresponding transaction (and also the level or size of the corresponding orders). The action is made in order to (i) account for the diluting or concentrating effect necessary to preserve the economic equivalent of the rights and obligations of the parties under that transaction immediately prior to that Corporate Event, and/or (ii) replicate the effect of the Corporate Event upon someone with an interest in the relevant underlying security, to be effective from the date determined by the Company.
10.8. The events to which sub-clause above refers to are any of the following, by the declaration of the issuer if a security: ▪ a subdivision, consolidation or reclassification of shares, a share buy-back or cancellation, or a free distribution of bonus shares to existing shareholders, capitalization or share split or reverse share split or similar event; ▪ a distribution to existing holders of the underlying shares or additional shares, other share capital or securities, granting the right to payment of dividends and/or proceeds from the liquidation of the issuer equally proportionate to such payments +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx to holders of the underlying shares, securities, or warrants granting the right to receive or purchase shares for less than the current market price per share; ▪ any other event regarding shares analogous to any of the above events or otherwise having a diluting or concentrating effect on the market value of shares; or ▪ any event analogous to any of the above events or otherwise having a diluting or concentrating effect on the market value of any security not based on shares; ▪ any event that is caused by a merger offer made regarding the company of the underlying asset.
10.9. If any underlying asset of the Financial Instrument becomes subject to a specific risk resulting in a predicted fall in value, the Company reserves the right to restrict short selling or even withdraw the specific or even withdraw the specific Financial Instrument from the Company’s Trading Platform.
10.10. Determination of any adjustment or amendment to the opening/closing price, size, value and/or quantity of the Transaction (and/or the level or size of any order) shall be at the Company’s sole discretion and shall be conclusive and binding upon the Client.
10.11. In the case where the Client has any open positions on the ex-dividend day for any of the underlying assets of the Financial Instrument, the Company has the right to close such positions at the last price of the previous trading day and open the equivalent volume of the underlying Financial Instrument at the first available price on the ex-dividend day.
10.12. The Company shall not be liable for any loss, expense, cost or liability (including consequential loss) suffered or incurred by the Client as a result of instructions being given, or any other communication being made via the internet or other electronic media. The Client will be solely responsible for all orders, and for the accuracy of all information, sent via such electronic media. The Company shall not be held responsible for delays or inaccuracies in the transmission of any instruction, information or the execution of orders due to any cause beyond the reasonable control of the Company.
10.13. The Company shall not be liable for any delays or other errors caused during the transmission of the Client’s order via the Company’s Trading Platforms. The delay can be caused by various reasons depending on the current market conditions (eg. high market volatility) as well as having a slow/weak internet connection between the Client’s terminal or any other trading platform offered by the Company and the Company’s server. +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx.
10.14. The Company being dependent on third party technology providers (such as webtrader, etc.) shall not be liable for any loss, expense or cost or liability (including consequential loss) suffered or incurred by the Client, as a result of interruption and/or failure or service from such thirds party technology providers.
10.15. Client’s orders such as Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit on any Financial Instrument shall be executed by the Company at the Client’s requested prices. However, in the case of any communication or technical failure as well as any incorrect reflection on the quotes feed (i.e. prices to freeze/stop updating or price spikes), the Company reserves the right not to execute an order or in case in which the order was executed to change the opening and/or closing price of a particular order or to cancel the said executed order.
10.16. Considering the levels of volatility affecting both price and volume, the Company is constantly seeking to provide client orders with the best execution reasonably possible under the prevailing market conditions. Client’s orders (Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit) are executed at the requested/declared price. However, during periods of volatile market conditions, during news announcements, on opening gaps (trading session starts), or on possible gaps where the underlying instrument has been suspended or restricted on a particular market, Buy/Sell Stop orders or Stop Loss orders above/below Buy Stop/Sell Stop orders during activation will be removed. The same execution policy applies when a trading strategy is deemed as abusive, because it is aiming towards potential riskless profit or another strategy deemed by the Company to be abusive. Accordingly, placing a Stop Loss order will not necessarily limit the Client’s losses at the intended amount.
10.17. Considering the volume of the Client’s order and the current market conditions, the Company has the right to proceed with partial execution.
10.18. The Company has the right at its desecration to increase or decrease spreads of Financial Instruments depending on the current market conditions as well as the size of the Client’s order.
10.19. The swap rate is mainly dependent on the level of interest rates as well as the Company’s fee for having an open position overnight. The Company has the discretion to change the level of the swap rate on each Financial Instrument at any given time and the Client acknowledges that he will be informed by the Company’s Website. The Client further acknowledges that he is responsible for reviewing the Contracts specifications located on the Company’s Website for being updated on the level of swap rate prior to placing any order with the Company. In addition, the Company reserves the right to amend the swap values of a specific Client in case of any suspect of a trading abuse. +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx.
10.20. The Company reserves the right to disable and/or enable swap free trading for Client’s Trading Account and/or reverse any cumulative profits derived from the said trading at any given time. This can occur at times where the Client abuses the Company’s trading conditions/systems or where the Client’s trading strategy imposes a threat to the Company’s trading facility or where the Company deems necessary in order to protect the smooth operation of its trading facility. The Client further acknowledges that swap free applies for thirty twenty (3020) calendar days only. Therefore, swap free account holding a position open for more than twenty (3020) calendar days, will be credited or debited swap accordingly. Note that a storage amount may apply instead for swap free account equivalent to the swap rates. In such case, the storage amount will be credited/debited in the form of deposit/withdrawal from the account equity.
10.21. All orders are placed in lot sizes. The Client further acknowledges that he is responsible for reviewing the Contract Specifications located on the Company’s Website for being updated on the level of swap rate prior to placing any order with the Company.
10.22. The Client can request to change his account leverage at any time by contacting the Company. The Client acknowledges that the Company has the discretion to change the Client’s trading account leverage at any given time, without the Client’s consent, either on a permanent basis or for a limited period of time. The Company maintains a maximum leverage of 1:100.
10.23. The Company shall have the right to start closing Client’s positions starting from the most unprofitable, when the margin level is less than 50%. In the case where the margin level is equal to or less than 50%, then Client’s positions are automatically closed, starting from the most unprofitable, at the market price.
10.24. In case where a Client is trading in a way that aims to take advantage of price disparities resulting from rare/occasional price latencies with the purpose of benefiting from a possible pricing arbitrage to the Company’s detriment, either by using additional functionalities/plug- ins (i.e. Expert Adviser, etc.) or by any other means, then the Company has the right to terminate the Trading Account.
10.25. The Company has the right to refuse to execute an order without any given notice and/or explanation to the Client. Among the cases that the Company is entitled to do so are the following (this list is not exhaustive): ▪ If the Client does not have the required funds deposited in the Company’s Client Trading Account; ▪ If the order violates the smooth operation or the reliability of the Company’s Trading Platform; +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx ▪ If the order aims at manipulating the market of the specific Financial Instrument; ▪ If the order is a result of the use of inside confidential information (xxxxxxx xxxxxxx); e.) If the order aims to legalize the proceeds from illegal acts or activities (money laundering).
10.26. It is understood that any refusal by the Company to execute any Order shall not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.
Appears in 1 contract
Samples: Terms and Conditions
INSTRUCTIONS AND ORDERS.
10.1. The Client understands and acknowledges that all orders executed between the Client and the Company are orders executed outside a Regulated Market.
10.2. The Client can open and close a position via its Company’s Trading Platform and add or modify orders by placing Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit on any Financial Instrument.
10.3. The Client’s orders are executed at the Bid and Ask prices that are offered by the Company. The Client places his instant execution request at the prices he sees on his client terminal and the execution process is initiated. Due to the high volatility and the server, the prices requested by the Client and the current market price may change, during this process, in +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx this event, the Company has the right to decline the Client’s requested prices and offer a new quote to the Client.
10.4. The Client may use a Power of Attorney to authorize a third person (representative) to act on behalf of the Client in all business relationships with the Company as defined in this Agreement. The Power of Attorney should be provided to the Company accompanied by all identification documents of the representative. If there is no expiry date, the Power of Attorney will be considered valid until the written termination by the Client. The use of a Power of Attorney is subject to approval of the Company.
10.5. The Company may record telephone conversations, without any prior warning (unless required to do so by Applicable Regulations), to ensure that the material terms of a Transaction and/or order placed by the Client and/or any other material information relating to a Transaction are properly recorded. Such records will be the Company’s property and will be accepted by the Client as evidence of his orders or instructions. The Company may use recordings and/or transcripts thereof for any purpose that it deems desirable.
10.6. The Client acknowledges that the Company has the right to refuse accepting orders and/or instructions by the Client when they are not clear or during the following cases: opening a position, closing a position, modifying or removing orders.
10.7. If any underlying asset of the Financial Instrument becomes subject to possible adjustments as a result of any of the events (referred to as “Corporate Event”), the Company will determine the appropriate adjustment, if any, to be made to the opening/closing price, size, value and/or quantity of the corresponding transaction (and also the level or size of the corresponding orders). The action is made in order to (i) account for the diluting or concentrating effect necessary to preserve the economic equivalent of the rights and obligations of the parties under that transaction immediately prior to that Corporate Event, and/or (ii) replicate the effect of the Corporate Event upon someone with an interest in the relevant underlying security, to be effective from the date determined by the Company.
10.8. The events to which sub-clause above refers to are any of the following, by the declaration of the issuer if of a security: ▪ a subdivision, consolidation or reclassification of shares, a share buy-back or cancellation, or a free distribution of bonus shares to existing shareholders, capitalization or share split or reverse share split or similar event; ▪ a distribution to existing holders of the underlying shares or additional shares, other share capital or securities, granting the right to payment of dividends and/or proceeds from the liquidation of the issuer equally proportionate to such payments +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx payments; ▪ to holders of the underlying shares, securities, or warrants granting the right to receive or purchase shares for less than the current market price per share; ▪ any other event regarding shares analogous to any of the above events or otherwise having a diluting or concentrating effect on the market value of shares; or ▪ any event analogous to any of the above events or otherwise having a diluting or concentrating effect on the market value of any security not based on shares; ▪ any event that is caused by a merger offer made regarding the company of the underlying asset.
10.9. If any underlying asset of the Financial Instrument becomes subject to a specific risk resulting in a predicted fall in value, the Company reserves the right to restrict short selling or even withdraw the specific or even withdraw the specific Financial Instrument from the Company’s Trading Platform.
10.10. Determination of any adjustment or amendment to the opening/closing price, size, value and/or quantity of the Transaction (and/or the level or size of any order) shall be at the Company’s sole discretion and shall be conclusive and binding upon the Client.
10.11. In the case where the Client has any open positions on the ex-dividend day for any of the underlying assets of the Financial Instrument, the Company has the right to close such positions at the last price of the previous trading day and open the equivalent volume of the underlying Financial Instrument at the first available price on the ex-dividend day.
10.12. The Company shall not be liable for any loss, expense, cost or liability (including consequential loss) suffered or incurred by the Client as a result of instructions being given, or any other communication being made via the internet or other electronic media. The Client will be solely responsible for all orders, and for the accuracy of all information, sent via such electronic media. The Company shall not be held responsible for delays or inaccuracies in the transmission of any instruction, information or the execution of orders due to any cause beyond the reasonable control of the Company.
10.13. The Company shall not be liable for any delays or other errors caused during the transmission of the Client’s order via the Company’s Trading Platforms. The delay can be caused by various reasons depending on the current market conditions (eg. high market volatility) as well as having a slow/weak internet connection between the Client’s terminal or any other trading platform offered by the Company and the Company’s server. +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx.
10.14. The Company being dependent on third party technology providers (such as webtrader, etc.) shall not be liable for any loss, expense or cost or liability (including consequential loss) suffered or incurred by the Client, as a result of interruption and/or failure or service from such thirds party technology providers.
10.15. Client’s orders such as Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit on any Financial Instrument shall be executed by the Company at the Client’s requested prices. However, in the case of any communication or technical failure as well as any incorrect reflection on the quotes feed (i.e. prices to freeze/stop updating or price spikes), the Company reserves the right not to execute an order or in case in which the order was executed to change the opening and/or closing price of a particular order or to cancel the said executed order.
10.16. Considering the levels of volatility affecting both price and volume, the Company is constantly seeking to provide client orders with the best execution reasonably possible under the prevailing market conditions. Client’s orders (Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit) are executed at the requested/declared price. However, during periods of volatile market conditions, during news announcements, on opening gaps (trading session starts), or on possible gaps where the underlying instrument has been suspended or restricted on a particular market, Buy/Sell Stop orders or Stop Loss orders above/below Buy Stop/Sell Stop orders during activation will be removed. The same execution policy applies when a trading strategy is deemed as abusive, because it is aiming towards potential riskless profit or another strategy deemed by the Company to be abusive. Accordingly, placing a Stop Loss order will not necessarily limit the Client’s losses at the intended amount.
10.17. Considering the volume of the Client’s order and the current market conditions, the Company has the right to proceed with partial execution.
10.18. The Company has the right at its desecration to increase or decrease spreads of Financial Instruments depending on the current market conditions as well as the size of the Client’s order.
10.19. The swap rate is mainly dependent on the level of interest rates as well as the Company’s fee for having an open position overnight. The Company has the discretion to change the level of the swap rate on each Financial Instrument at any given time and the Client acknowledges that he will be informed by the Company’s Website. The Client further acknowledges that he is responsible for reviewing the Contracts specifications located on the Company’s Website for being updated on the level of swap rate prior to placing any order with the Company. In addition, the Company reserves the right to amend the swap values of a specific Client in case of any suspect of a trading abuse. +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx.
10.20. The Company reserves the right to disable and/or enable swap free trading for Client’s Trading Account and/or reverse any cumulative profits derived from the said trading at any given time. This can occur at times where the Client abuses the Company’s trading conditions/systems or where the Client’s trading strategy imposes a threat to the Company’s trading facility or where the Company deems necessary in order to protect the smooth operation of its trading facility. The Client further acknowledges that swap free applies for thirty (30) calendar days only. Therefore, swap free account holding a position open for more than twenty (3020) calendar days, will be credited or debited swap accordingly. Note that a storage amount may apply instead for swap free account equivalent to the swap rates. In such case, the storage amount will be credited/debited in the form of deposit/withdrawal from the account equity.
10.21. All orders are placed in lot sizes. The Client further acknowledges that he is responsible for reviewing the Contract Specifications located on the Company’s Website for being updated on the level of swap rate prior to placing any order with the Company.
10.22. The Client can request to change his account leverage at any time by contacting the Company. The Client acknowledges that the Company has the discretion to change the Client’s trading account leverage at any given time, without the Client’s consent, either on a permanent basis or for a limited period of time.
10.23. The Company shall have the right to start closing Client’s positions starting from the most unprofitable, when the margin level is less than 50%. In the case where the margin level is equal to or less than 5040%, then Client’s positions are automatically closed, starting from the most unprofitable, at the market price.
10.24. In case where a Client is trading in a way that aims to take advantage of price disparities resulting from rare/occasional price latencies with the purpose of benefiting from a possible pricing arbitrage to the Company’s detriment, either by using additional functionalities/plug- ins (i.e. Expert Adviser, etc.) or by any other means, then the Company has the right to terminate the Trading Account.
10.25. The Company has the right to refuse to execute an order without any given notice and/or explanation to the Client. Among the cases that the Company is entitled to do so are the following (this list is not exhaustive): ▪ If if the Client does not have the required funds deposited in the Company’s Client Trading Account; ▪ If if the order violates the smooth operation or the reliability of the Company’s Trading Platform; +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx ▪ If if the order aims at manipulating the market of the specific Financial Instrument; ▪ If if the order is a result of the use of inside confidential information (xxxxxxx xxxxxxx); e.) If the order aims to legalize the proceeds from illegal acts or activities (money laundering).
10.26. It is understood that any refusal by the Company to execute any Order shall not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.
Appears in 1 contract
Samples: Client Agreement
INSTRUCTIONS AND ORDERS. 10.1. The Client understands and acknowledges that all orders executed between the Client and the Company are orders executed outside a Regulated Market.
10.2. The Client can open and close a position via its Company’s Trading Platform and add or modify orders by placing Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit on any Financial Instrument.
10.3. The Client’s orders are executed at the Bid and Ask prices that are offered by the Company. The Client places his instant execution request at the prices he sees on his client terminal and the execution process is initiated. Due to the high volatility and the server, the prices requested by the Client and the current market price may change, during this process, in +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx this event, the Company has the right to decline the Client’s requested prices and offer a new quote to the Client.
10.4. The Client may use a Power of Attorney to authorize a third person (representative) to act on behalf of the Client in all business relationships with the Company as defined in this Agreement. The Power of Attorney should be provided to the Company accompanied by all identification documents of the representative. If there is no expiry date, the Power of Attorney will be considered valid until the written termination by the Client. The use of a Power of Attorney is subject to approval of the Company.
10.5. The Company may record telephone conversations, without any prior warning (unless required to do so by Applicable Regulations), to ensure that the material terms of a Transaction and/or order placed by the Client and/or any other material information relating to a Transaction are properly recorded. Such records will be the Company’s property and will be accepted by the Client as evidence of his orders or instructions. The Company may use recordings and/or transcripts thereof for any purpose that it deems desirable.
10.6. The Client acknowledges that the Company has the right to refuse accepting orders and/or instructions by the Client when they are not clear or during the following cases: opening a position, closing a position, modifying or removing orders.
10.7. If any underlying asset of the Financial Instrument becomes subject to possible adjustments as a result of any of the events (referred to as “Corporate Event”), the Company will determine the appropriate adjustment, if any, to be made to the opening/closing price, size, value and/or quantity of the corresponding transaction (and also the level or size of the corresponding orders). The action is made in order to (i) account for the diluting or concentrating effect necessary to preserve the economic equivalent of the rights and obligations of the parties under that transaction immediately prior to that Corporate Event, and/or (ii) replicate the effect of the Corporate Event upon someone with an interest in the relevant underlying security, to be effective from the date determined by the Company.
10.8. The events to which sub-clause above refers to are any of the following, by the declaration of the issuer if of a security: ▪ a subdivision, consolidation or reclassification of shares, a share buy-back or cancellation, or a free distribution of bonus shares to existing shareholders, capitalization or share split or reverse share split or similar event; ▪ a distribution to existing holders of the underlying shares or additional shares, other share capital or securities, granting the right to payment of dividends and/or proceeds from the liquidation of the issuer equally proportionate to such payments +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx payments; to holders of the underlying shares, securities, or warrants granting the right to receive or purchase shares for less than the current market price per share; ▪ any other event regarding shares analogous to any of the above events or otherwise having a diluting or concentrating effect on the market value of shares; or ▪ any event analogous to any of the above events or otherwise having a diluting or concentrating effect on the market value of any security not based on shares; ▪ any event that is caused by a merger offer made regarding the company of the underlying asset.
10.9. If any underlying asset of the Financial Instrument becomes subject to a specific risk resulting in a predicted fall in value, the Company reserves the right to restrict short selling or even withdraw the specific or even withdraw the specific Financial Instrument from the Company’s Trading Platform.
10.10. Determination of any adjustment or amendment to the opening/closing price, size, value and/or quantity of the Transaction (and/or the level or size of any order) shall be at the Company’s sole discretion and shall be conclusive and binding upon the Client.
10.11. In the case where the Client has any open positions on the ex-dividend day for any of the underlying assets of the Financial Instrument, the Company has the right to close such positions at the last price of the previous trading day and open the equivalent volume of the underlying Financial Instrument at the first available price on the ex-dividend day.
10.12. The Company shall not be liable for any loss, expense, cost or liability (including consequential loss) suffered or incurred by the Client as a result of instructions being given, or any other communication being made via the internet or other electronic media. The Client will be solely responsible for all orders, and for the accuracy of all information, sent via such electronic media. The Company shall not be held responsible for delays or inaccuracies in the transmission of any instruction, information or the execution of orders due to any cause beyond the reasonable control of the Company.
10.13. The Company shall not be liable for any delays or other errors caused during the transmission of the Client’s order via the Company’s Trading Platforms. The delay can be caused by various reasons depending on the current market conditions (eg. high market volatility) as well as having a slow/weak internet connection between the Client’s terminal or any other trading platform offered by the Company and the Company’s server. +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx.
10.14. The Company being dependent on third party technology providers (such as webtrader, etc.) shall not be liable for any loss, expense or cost or liability (including consequential loss) suffered or incurred by the Client, as a result of interruption and/or failure or service from such thirds party technology providers.
10.15. Client’s orders such as Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit on any Financial Instrument shall be executed by the Company at the Client’s requested prices. However, in the case of any communication or technical failure as well as any incorrect reflection on the quotes feed (i.e. prices to freeze/stop updating or price spikes), the Company reserves the right not to execute an order or in case in which the order was executed to change the opening and/or closing price of a particular order or to cancel the said executed order.
10.16. Considering the levels of volatility affecting both price and volume, the Company is constantly seeking to provide client orders with the best execution reasonably possible under the prevailing market conditions. Client’s orders (Buy/Sell, Buy Limit, Buy Stop, Sell Limit, Sell Stop, Stop Loss and/or Take Profit) are executed at the requested/declared price. However, during periods of volatile market conditions, during news announcements, on opening gaps (trading session starts), or on possible gaps where the underlying instrument has been suspended or restricted on a particular market, Buy/Sell Stop orders or Stop Loss orders aboveordersabove/below Buy Stop/Sell Stop orders during activation will be removed. The same execution policy applies when a trading strategy is deemed as abusive, because it is aiming towards potential riskless profit or another strategy deemed by the Company to be abusive. Accordingly, ,placing a Stop Loss order will not necessarily limit the Client’s losses at the intended amount.
10.17. Considering the volume of the Client’s order and the current market conditions, the Company has the right to proceed with partial execution.
10.18. The Company has the right at its desecration to increase or decrease spreads of Financial Instruments depending on the current market conditions as well as the size of the Client’s order.
10.19. The swap rate is mainly dependent on the level of interest rates as well as the Company’s fee for feefor having an open position overnight. The Company has the discretion to change the level of the swap rate on each Financial Instrument at any given time and the Client acknowledges that he will be informed by the Company’s Website. The Client further acknowledges that he is responsible for reviewing the Contracts specifications located on the Company’s Website for being updated on the level of swap rate prior to placing any order with the Company. In addition, the Company reserves the right to amend the swap values of a specific Client in case of caseof any suspect of a trading abuse. +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx.
10.20. The Company reserves the right to disable and/or enable swap free trading for Client’s Trading Account and/or reverse any cumulative profits derived from the said trading at any given time. This can occur at times where the Client abuses the Company’s trading conditions/systems or where the Client’s trading strategy imposes a threat to the Company’s trading facility or where the Company deems necessary in order to protect the smooth operation of its trading facility. The Client further acknowledges that swap free applies for thirty (30) calendar days only. Therefore, swap free account holding a position open for more than twenty (30) calendar days, will be credited or debited swap accordingly. Note that a storage amount may apply instead for swap free account equivalent to the swap rates. In such case, the storage amount will be credited/debited in the form of deposit/withdrawal from the account equity.
10.21. All orders are placed in lot sizes. The Client further acknowledges that he is responsible for reviewing the Contract Specifications located on the Company’s Website for being updated on the level of swap rate prior to placing any order with the Company.
10.22. The Client can request to change his account leverage at any time by contacting the Company. The Client acknowledges that the Company has the discretion to change the Client’s trading account leverage at any given time, without the Client’s consent, either on a permanent basis or for a limited period of time.
10.23. The Company shall have the right to start closing Client’s positions starting from the most unprofitable, when the margin level is less than 50%. In the case where the margin level is equal to or less than 5040%, then Client’s positions are automatically closed, starting from the most unprofitable, at the market price.
10.24. In case where a Client is trading in a way that aims to take advantage of price disparities resulting from rare/occasional price latencies with the purpose of benefiting from a possible pricing arbitrage to the Company’s detriment, either by using additional functionalities/plug- plug-ins (i.e. Expert Adviser, etc.) or by any other means, then the Company has the right to terminate toterminate the Trading Account.
10.25. The Company has the right to refuse to execute an order without any given notice and/or explanation to the Client. Among the cases that the Company is entitled to do so are the following (this list is not exhaustive): ▪ If if the Client does not have the required funds deposited in the Company’s Client Trading Account; ▪ If if the order violates the smooth operation or the reliability of the Company’s Trading Platform; +00 000 000 0000 xxxx@xxxxxxxxxxx.xxx ▪ If if the order aims at manipulating the market of the specific Financial Instrument; ▪ If if the order is a result of the use of inside confidential information (xxxxxxx xxxxxxx); e.) If the order aims to legalize the proceeds from illegal acts or activities (money laundering).
10.26. It is understood that any refusal by the Company to execute any Order shall not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.
Appears in 1 contract
Samples: Client Agreement
