Orders Execution. 11.5.1. Subject to the terms of this Agreement, the Company shall execute, and transmit for execution or execute Orders (provided via the Trading Platform or via telephone) strictly in accordance with the Orders’ terms, the Trading Conditions and the Company’s Order Execution Policy. By using the Access Code and placing an Order, the Client acknowledges that the Company will be entitled CA10042022 Tel: +00000000000 | Fax: +00000000000 | xxx.xxxxxx.xxx to rely and act on any Order given by the Client without any further enquiry to the Client and any such Orders will be binding upon the Client. The Company shall also have no responsibility to check the accuracy of any Order. Any Order (provided via the Trading Platform or by telephone) constitutes an irrevocable instruction to the Company to proceed with the Order on the Client’s behalf. 11.5.2. Each Order given by the Client constitutes an offer to open or close a Position at the price indicated in the Trading Platform which is contingent upon the Company’s acceptance, at its sole discretion, of such offer, as indicated in the Trading Platform. 11.5.3. In CFD transactions, once an Order is placed, it cannot be revoked. The Client is aware that the Company is under no obligation to cancel the Order. A request for cancellation of an Order can be made via the Trading Platform or by calling the Company, where applicable. Requests concerning cancellation of Orders generated when the Margin is exceeded can only be made to the Company. An Order shall not be considered to be cancelled until the Client has received a written confirmation from the Company which may be given at the Company's sole and absolute discretion. 11.5.4. Subject to the following terms, all Transactions shall be opened and closed at the prices quoted on Company’s Platform. Each price is valid only at the exact date and the exact time in which such price is presented to the Client. The Client acknowledges that due to events such as rapid price fluctuations and Internet latency, the price presented on the Trading Platform may no longer remain in effect at the time the Client’s Order is executed on the Company’s servers. It is hereby agreed that Orders shall be executed as follows: Market Orders (trade requests) are executed at the price that is in effect on the Company’s Trading Platform (client side) at the exact time of execution, provided that such price is within a predetermined tolerance level from the underlying price indicated in the Company’s server and irrespective if the underlying price is above or below the price indicated in the Trading Platform (What You See Is What You Get, or WYSIWYG). In the event that the price indicated in the trading platform (client side) exceeds the above tolerance level, for example, due to movements in the underlying assets between the time a client placed its order and the time it is received and executed, high markets volatility and communication latency, the Order will be executed at the price indicated in the Company’s server which shall be different from the price indicated in the Trading Platform (Market Price), on a symmetrical basis. In the event of a substantial difference between the price indicated in the Trading Platform (client side) and the price indicated in the Company’s servers, the Order shall be rejected. Limit Orders (future orders) are executed at the market price indicated at the Company’s server which may be different than the price indicated in the Order (“Slippage”). It is provided that in case of set Limit Orders, open positions will be closed automatically upon either reaching a Limit Order, or according to the Margin Close-out Protection mechanism as per paragraph 13.6, whichever takes place first. Slippage may occur in the event where the price indicated in the order is not available in the server, for example, due to high volatility and gaps in the market prices. In such event, the order CA10042022 Tel: +00000000000 | Fax: +00000000000 | xxx.xxxxxx.xxx will be executed at the first available price, irrespective of the direction of the slippage, either to the client’s favor or not, in a symmetrical and transparent manner (Symmetrical Slippage). It is important to note that Slippage does not affect the Negative Balance Protection and therefore the Client will never lose more than the amount invested (including any profit, if gained), even if a slippage occurs. In addition, transactions in some currencies (e.g. RUB) or other instruments (e.g. shares, ETFs and indices) which are not traded on a 24 hours basis, may experience a market gap on a daily basis and are therefore more susceptible to slippage. 11.5.5. In accordance with clause 11.6.3 hereto, the Company, at its sole discretion, may set an Expiry Date for different Financial Instruments on the Trading Platform. The Client hereby authorizes the Company to automatically close any open Transactions with respect to such Financial Instrument/s at the date and time specified on the Expiry Date and at the price/s quoted on the Trading Platform. 11.5.6. Without prejudice to any other provisions herein, the Client acknowledges that the Company shall have the right, at its sole discretion, at any time and for any reason and without giving any notice or explanation to: refuse, reverse, suspend, freeze, limit the size and/or close any Order, Position or Transaction, including without limitation in the following cases: (a) In case of Force-Majeure, hacker attacks and other illegal actions against the Trading Platform or any of the Company’s systems, or in the event of a suspension of trade in the Financial Markets or Underlying Asset relevant to the Financial Instruments of the Company. (b) 2 (two) minutes before and after a critical news release (e.g. breaking news events and economic indicators announcements). (c) Whenever the Company deems at its sole discretion that the execution of the Order aims at or may aim at manipulating the market of the Financial Instruments; constitutes an abusive exploitation of privileged confidential information (including xxxxxxx xxxxxxx); contributes to the legalization of proceeds from illegal acts or activities (money laundering) or affects or may affect in any manner the reliability or smooth operation of the Trading Platform. (d) The Company considers that there are abnormal market conditions. The Client acknowledges that the trading of certain Financial Instruments on the Trading Platform may become volatile very quickly and without prior warning. Due to the high degree of risk involved in trading volatile Financial Instruments, the Client acknowledges and agrees that the Company reserve the right to close any or all open Transactions with respect to any Financial Instruments that the Company, acting reasonably, determines to be volatile, at the price quoted on the Trading Platform at any such time and without prior notice. (e) Whenever the Order concerns the purchase of any Financial Instrument but there are no available cleared funds deposited with the Company or in the Bank Account to pay the purchase price of the relevant Financial Instrument and all the charges relating to the said Trading Platform. In calculating the said available funds, all funds required to meet any of the Client’s obligations include, but without limitation, obligations which may arise from the possible execution of other previously registered purchase Orders, which will be deducted from the cleared funds deposited with the Company or in the Bank Account. CA10042022 Tel: +00000000000 | Fax: +00000000000 | xxx.xxxxxx.xxx (f) Whenever there are no available cleared funds deposited in the Account to pay all the charges and required margin relating to the said Order. (g) There is absence of an essential detail of the Order. (h) It is impossible to execute an Order or continue to hold any position at the size or price requested including, without limitations, when market prices reach, or may reach at the Company’s reasonable assumptions, zero or a negative price. (i) The Order has more than one interpretation or is unclear. (j) This Agreement was duly terminated by either of the Parties. (k) If any doubt arises whatsoever as to the genuineness of the Order. (l) If the Company suspects that the Client is in a breach of its warranties and representations detailed in Section 8 above. (m) If the Company reasonable suspects that the Client uses unauthorized or unfair or fraudulent trading practices/method and/or adversely exploits or manipulates the Trading Platform’s capabilities and/or limitations. (n) If the Order precedes the first quote on the Trading Platform on the Market Opening. (o) In consequence of request of regulatory or supervisory authorities of Cyprus or any other jurisdiction or a court order. (p) The Transaction size is less than the minimum Transaction size, or greater than the maximum Transaction size, as indicated in the Trading Conditions, the Client’s gross exposure in the Account or its Accounts or related Accounts in aggregate exceeds USD 15,000,000, or such amount as may be determined by the Company from time to time at its sole discretion; or the Client’s gross exposure in a specific Financial Instrument or CFD exceeds the amount as may be determined by the Company from time to time at its sole discretion. (q) A quote is not obtained from the Company or the quote obtained by the Company is an Invalid Price. (r) If the execution of the Order will increase the Client's exposure above the maximum level of exposure permitted by the Company, as may be determined by the Company from time to time at its sole discretion. (s) Internet connection or communications are disrupted. (t) In an Event of Default of the Client. (u) If the value of the Client's Margin falls below the minimum Margin requirement as defined in Website and/or if the Client has a zero, or negative Balance on any Account. (v) If the Company no longer intends to offer or support any Financial Instruments or due to an Expiry Date set for Financial Instruments, all as determined by the Company from time to time subject to its sole discretion. 11.5.7. The Company is not obliged to give reasons or notice as to the reasons for refuse, reverse, suspend, freeze, or close, or cancelling Orders or instructions prior to doing so or after. CA10042022 Tel: +00000000000 | Fax: +00000000000 | xxx.xxxxxx.xxx Moreover, in the event that the Company does decide to suspend or cancel an instruction or Order, such cancellation will 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
Orders Execution. 11.5.111.4.1. Subject to the terms of this Agreement, the Company shall execute, and transmit for execution or execute Orders (provided via the Trading Platform or via telephone) strictly in accordance with the Orders’ terms, the Trading Conditions and the Company’s Order Execution Policy. By using CA07102018 Tel: +00000000000 | Fax: +00000000000 | xxx.xxxxxx.xxx the Access Code and placing an Order, the Client acknowledges that the Company will be entitled CA10042022 Tel: +00000000000 | Fax: +00000000000 | xxx.xxxxxx.xxx to rely and act on any Order given by the Client without any further enquiry to the Client and any such Orders will be binding upon the Client. The Company shall also have no responsibility to check the accuracy of any Order. Any Order (provided via the Trading Platform or by telephone) constitutes an irrevocable instruction to the Company to proceed with the Order on the Client’s behalf.
11.5.211.4.2. Each Order given by the Client constitutes an offer to open or close a Position at the price indicated in the Trading Platform which is contingent upon the Company’s acceptance, at its sole discretion, of such offer, as indicated in the Trading Platform.
11.5.311.4.3. In CFD transactions, once an Order is placed, it cannot be revoked. The Client is aware that the Company is under no obligation to cancel the Order. A request for cancellation of an Order can be made via the Trading Platform or by calling the Company, where applicable. Requests concerning cancellation of Orders generated when the Margin is exceeded can only be made to the Company. An Order shall not be considered to be cancelled until the Client has received a written confirmation from the Company which may be given at the Company's sole and absolute discretion.
11.5.411.4.4. Subject to the following terms, all Transactions shall be opened and closed at the prices quoted on Company’s Platform. Each price is valid only at the exact date and the exact time in which such price is presented to the Client. The Client acknowledges that due to events such as rapid price fluctuations and Internet latency, the price presented on the Trading Platform may no longer remain in effect at the time the Client’s Order is executed on the Company’s servers. It is hereby agreed that Orders shall be executed as follows: Market Orders (trade requests) are executed at the price that is in effect on the Company’s Trading Platform (client side) at the exact time of execution, provided that such price is within a predetermined tolerance level from the underlying price indicated in the Company’s server and irrespective if the underlying price is above or below the price indicated in the Trading Platform (What You See Is What You Get, or WYSIWYG). In the event that the price indicated in the trading platform (client side) exceeds the above tolerance level, for example, due to movements in the underlying assets between the time a client placed its order and the time it is received and executed, high markets volatility and communication latency, the Order will be executed at the price indicated in the Company’s server which shall be different from the price indicated in the Trading Platform (Market Price), on a symmetrical basis. In the event of a substantial difference between the price indicated in the Trading Platform (client side) and the price indicated in the Company’s servers, the Order shall be rejected. Limit Orders (future orders) are executed at the market price indicated at the Company’s server which may be different than the price indicated in the Order (“Slippage”). It is provided that in case of set Limit Orders, open positions will be closed automatically upon either reaching a Limit Order, or according to the Margin Close-out Protection mechanism as per paragraph 13.6, whichever takes place first. CA07102018 Tel: +00000000000 | Fax: +00000000000 | xxx.xxxxxx.xxx Slippage may occur in the event where the price indicated in the order is not available in the server, for example, due to high volatility and gaps in the market prices. In such event, the order CA10042022 Tel: +00000000000 | Fax: +00000000000 | xxx.xxxxxx.xxx will be executed at the first available price, irrespective of the direction of the slippage, either to the client’s favor or not, in a symmetrical and transparent manner (Symmetrical Slippage). It is important to note that Slippage does not affect the Negative Balance Protection and therefore the Client will never lose more than the amount invested (including any profit, if gained), even if a slippage occurs. In addition, transactions in some currencies (e.g. RUB) or other instruments (e.g. shares, ETFs and indices) which are not traded on a 24 hours basis, may experience a market gap on a daily basis and are therefore more susceptible to slippage.
11.5.511.4.5. In accordance with clause 11.6.3 hereto, the Company, at its sole discretion, may set an Expiry Date for different Financial Instruments on the Trading Platform. The Client hereby authorizes the Company to automatically close any open Transactions with respect to such Financial Instrument/s at the date and time specified on the Expiry Date and at the price/s quoted on the Trading Platform.
11.5.611.4.6. Without prejudice to any other provisions herein, the Client acknowledges that the Company shall have the right, at its sole discretion, at any time and for any reason and without giving any notice or explanation to: refuse, reverse, suspend, freeze, limit the size and/or close any Order, Position or Transaction, including without limitation in the following cases:
(a) In case of Force-Majeure, hacker attacks and other illegal actions against the Trading Platform or any of the Company’s systems, or in the event of a suspension of trade in the Financial Markets or Underlying Asset relevant to the Financial Instruments of the Company.
(b) 2 (two) minutes before and after a critical news release (e.g. breaking news events and economic indicators announcements).
(c) Whenever the Company deems at its sole discretion that the execution of the Order aims at or may aim at manipulating the market of the Financial Instruments; constitutes an abusive exploitation of privileged confidential information (including xxxxxxx xxxxxxx); contributes to the legalization of proceeds from illegal acts or activities (money laundering) or affects or may affect in any manner the reliability or smooth operation of the Trading Platform.
(d) The Company considers that there are abnormal market conditions. The Client acknowledges that the trading of certain Financial Instruments on the Trading Platform may become volatile very quickly and without prior warning. Due to the high degree of risk involved in trading volatile Financial Instruments, the Client acknowledges and agrees that the Company reserve the right to close any or all open Transactions with respect to any Financial Instruments that the Company, acting reasonably, determines to be volatile, at the price quoted on the Trading Platform at any such time and without prior notice.
(e) Whenever the Order concerns the purchase of any Financial Instrument but there are no available cleared funds deposited with the Company or in the Bank Account to pay the purchase price of the relevant Financial Instrument and all the charges relating to the said Trading Platform. In calculating the said available funds, all funds required to meet any of the Client’s obligations include, but without limitation, obligations which may arise from the CA07102018 Tel: +00000000000 | Fax: +00000000000 | xxx.xxxxxx.xxx possible execution of other previously registered purchase Orders, which will be deducted from the cleared funds deposited with the Company or in the Bank Account. CA10042022 Tel: +00000000000 | Fax: +00000000000 | xxx.xxxxxx.xxx.
(f) Whenever there are no available cleared funds deposited in the Account to pay all the charges and required margin relating to the said Order.
(g) There is absence of an essential detail of the Order.
(h) It is impossible to execute proceed with an Order or continue to hold any position at regarding the size or price requested including, without limitations, when market prices reach, or may reach at the Company’s reasonable assumptions, zero or a negative price.
(i) The Order has more than one interpretation or is unclear.
(j) This Agreement was duly terminated by either of the Parties.
(k) If any doubt arises whatsoever as to the genuineness of the Order.
(l) If the Company suspects that the Client is in a breach of its warranties and representations detailed in Section 8 above.
(m) If the Company reasonable suspects that the Client uses unauthorized or unfair or fraudulent trading practices/method and/or adversely exploits or manipulates the Trading Platform’s capabilities and/or limitations.
(n) If the Order precedes the first quote on the Trading Platform on the Market Opening.
(on) In consequence of request of regulatory or supervisory authorities of Cyprus or any other jurisdiction or a court order.
(po) The Transaction size is less than the minimum Transaction size, or greater than the maximum Transaction size, as indicated in the Trading Conditions, the Client’s gross exposure in the Account or its Accounts or related Accounts in aggregate exceeds USD 15,000,000, or such amount as may be determined by the Company from time to time at its sole discretion; or the Client’s gross exposure in a specific Financial Instrument or CFD exceeds the amount as may be determined by the Company from time to time at its sole discretion.
(qp) A quote is not obtained from the Company or the quote obtained by the Company is an Invalid Price.
(rq) If the execution of the Order will increase the Client's exposure above the maximum level of exposure permitted by the Company, as may be determined by the Company from time to time at its sole discretion.
(sr) Internet connection or communications are disrupted.
(ts) In an Event of Default of the Client.
(ut) If the value of the Client's Margin falls below the minimum Margin requirement as defined in Website and/or if the Client has a zero, or negative Balance on any Account.
(v) If the Company no longer intends to offer or support any Financial Instruments or due to an Expiry Date set for Financial Instruments, all as determined by the Company from time to time subject to its sole discretion.
11.5.711.4.7. The Company is not obliged to give reasons or notice as to the reasons for refuse, reverse, suspend, freeze, or close, or cancelling Orders or instructions prior to doing so or after. CA10042022 Tel: +00000000000 | Fax: +00000000000 | xxx.xxxxxx.xxx Moreover, in the event that the Company does decide to suspend or cancel an instruction or Order, such cancellation will 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
Orders Execution. 11.5.111.4.1. Subject to the terms of this Agreement, the Company shall execute, and transmit for execution or execute Orders (provided via the Trading Platform or via telephone) strictly in accordance with the Orders’ terms, the Trading Conditions and the Company’s Order Execution Policy. By using CA29072018 Tel: +00000000000 | Fax: +00000000000 | xxx.xxxxxx.xxx the Access Code and placing an Order, the Client acknowledges that the Company will be entitled CA10042022 Tel: +00000000000 | Fax: +00000000000 | xxx.xxxxxx.xxx to rely and act on any Order given by the Client without any further enquiry to the Client and any such Orders will be binding upon the Client. The Company shall also have no responsibility to check the accuracy of any Order. Any Order (provided via the Trading Platform or by telephone) constitutes an irrevocable instruction to the Company to proceed with the Order on the Client’s behalf.
11.5.211.4.2. Each Order given by the Client constitutes an offer to open or close a Position at the price indicated in the Trading Platform which is contingent upon the Company’s acceptance, at its sole discretion, of such offer, as indicated in the Trading Platform.
11.5.311.4.3. In CFD transactions, once an Order is placed, it cannot be revoked. The Client is aware that the Company is under no obligation to cancel the Order. A request for cancellation of an Order can be made via the Trading Platform or by calling the Company, where applicable. Requests concerning cancellation of Orders generated when the Margin is exceeded can only be made to the Company. An Order shall not be considered to be cancelled until the Client has received a written confirmation from the Company which may be given at the Company's sole and absolute discretion.
11.5.411.4.4. Subject to the following terms, all Transactions shall be opened and closed at the prices quoted on Company’s Platform. Each price is valid only at the exact date and the exact time in which such price is presented to the Client. The Client acknowledges that due to events such as rapid price fluctuations and Internet latency, the price presented on the Trading Platform may no longer remain in effect at the time the Client’s Order is executed on the Company’s servers. It is hereby agreed that Orders shall be executed as follows: Market Orders (trade requests) are executed at the price that is in effect on the Company’s Trading Platform (client side) at the exact time of execution, provided that such price is within a predetermined tolerance level from the underlying price indicated in the Company’s server and irrespective if the underlying price is above or below the price indicated in the Trading Platform (What You See Is What You Get, or WYSIWYG). In the event that the price indicated in the trading platform (client side) exceeds the above tolerance level, for example, due to movements in the underlying assets between the time a client placed its order and the time it is received and executed, high markets volatility and communication latency, the Order will be executed at the price indicated in the Company’s server which shall be different from the price indicated in the Trading Platform (Market Price), on a symmetrical basis. In the event of a substantial difference between the price indicated in the Trading Platform (client side) and the price indicated in the Company’s servers, the Order shall be rejected. Limit Orders (future orders) are executed at the market price indicated at the Company’s server which may be different than the price indicated in the Order (“Slippage”). It is provided that in case of set Limit Orders, open positions will be closed automatically upon either reaching a Limit Order, or according to upon Equity reaching the Maintenance Margin Close-out Protection mechanism as per paragraph 13.6, whichever takes place first. CA29072018 Tel: +00000000000 | Fax: +00000000000 | xxx.xxxxxx.xxx Slippage may occur in the event where the price indicated in the order is not available in the server, for example, due to high volatility and gaps in the market prices. In such event, the order CA10042022 Tel: +00000000000 | Fax: +00000000000 | xxx.xxxxxx.xxx will be executed at the first available price, irrespective of the direction of the slippage, either to the client’s favor or not, in a symmetrical and transparent manner (Symmetrical Slippage). It is important to note that Slippage does not affect the Negative Balance Protection and therefore the Client will never lose more than the amount invested (including any profit, if gained), even if a slippage occurs. In addition, transactions in some currencies (e.g. RUB) or other instruments (e.g. shares, ETFs and indices) which are not traded on a 24 hours basis, may experience a market gap on a daily basis and are therefore more susceptible to slippage.
11.5.511.4.5. In accordance with clause 11.6.3 hereto, the Company, at its sole discretion, may set an Expiry Date for different Financial Instruments on the Trading Platform. The Client hereby authorizes the Company to automatically close any open Transactions with respect to such Financial Instrument/s at the date and time specified on the Expiry Date and at the price/s quoted on the Trading Platform.
11.5.611.4.6. Without prejudice to any other provisions herein, the Client acknowledges that the Company shall have the right, at its sole discretion, at any time and for any reason and without giving any notice or explanation to: refuse, reverse, suspend, freeze, limit the size and/or close any Order, Position or Transaction, including without limitation in the following cases:
(a) In case of Force-Majeure, hacker attacks and other illegal actions against the Trading Platform or any of the Company’s systems, or in the event of a suspension of trade in the Financial Markets or Underlying Asset relevant to the Financial Instruments of the Company.
(b) 2 (two) minutes before and after a critical news release (e.g. breaking news events and economic indicators announcements).
(c) Whenever the Company deems at its sole discretion that the execution of the Order aims at or may aim at manipulating the market of the Financial Instruments; constitutes an abusive exploitation of privileged confidential information (including xxxxxxx xxxxxxx); contributes to the legalization of proceeds from illegal acts or activities (money laundering) or affects or may affect in any manner the reliability or smooth operation of the Trading Platform.
(d) The Company considers that there are abnormal market conditions. The Client acknowledges that the trading of certain Financial Instruments on the Trading Platform may become volatile very quickly and without prior warning. Due to the high degree of risk involved in trading volatile Financial Instruments, the Client acknowledges and agrees that the Company reserve the right to close any or all open Transactions with respect to any Financial Instruments that the Company, acting reasonably, determines to be volatile, at the price quoted on the Trading Platform at any such time and without prior notice.
(e) Whenever the Order concerns the purchase of any Financial Instrument but there are no available cleared funds deposited with the Company or in the Bank Account to pay the purchase price of the relevant Financial Instrument and all the charges relating to the said Trading Platform. In calculating the said available funds, all funds required to meet any of the Client’s obligations include, but without limitation, obligations which may arise from the CA29072018 Tel: +00000000000 | Fax: +00000000000 | xxx.xxxxxx.xxx possible execution of other previously registered purchase Orders, which will be deducted from the cleared funds deposited with the Company or in the Bank Account. CA10042022 Tel: +00000000000 | Fax: +00000000000 | xxx.xxxxxx.xxx.
(f) Whenever there are no available cleared funds deposited in the Account to pay all the charges and required margin relating to the said Order.
(g) There is absence of an essential detail of the Order.
(h) It is impossible to execute proceed with an Order or continue to hold any position at regarding the size or price requested including, without limitations, when market prices reach, or may reach at the Company’s reasonable assumptions, zero or a negative price.
(i) The Order has more than one interpretation or is unclear.
(j) This Agreement was duly terminated by either of the Parties.
(k) If any doubt arises whatsoever as to the genuineness of the Order.
(l) If the Company suspects that the Client is in a breach of its warranties and representations detailed in Section 8 above.
(m) If the Company reasonable suspects that the Client uses unauthorized or unfair or fraudulent trading practices/method and/or adversely exploits or manipulates the Trading Platform’s capabilities and/or limitations.
(n) If the Order precedes the first quote on the Trading Platform on the Market Opening.
(on) In consequence of request of regulatory or supervisory authorities of Cyprus or any other jurisdiction or a court order.
(po) The Transaction size is less than the minimum Transaction size, or greater than the maximum Transaction size, as indicated in the Trading Conditions, the Client’s gross exposure in the Account or its Accounts or related Accounts in aggregate exceeds USD 15,000,000, or such amount as may be determined by the Company from time to time at its sole discretion; or the Client’s gross exposure in a specific Financial Instrument or CFD exceeds the amount as may be determined by the Company from time to time at its sole discretion.
(qp) A quote is not obtained from the Company or the quote obtained by the Company is an Invalid Price.
(rq) If the execution of the Order will increase the Client's exposure above the maximum level of exposure permitted by the Company, as may be determined by the Company from time to time at its sole discretion.
(sr) Internet connection or communications are disrupted.
(ts) In an Event of Default of the Client.
(ut) If the value of the Client's Margin falls below the minimum Margin requirement as defined in Website and/or if the Client has a zero, or negative Balance on any Account.
(v) If the Company no longer intends to offer or support any Financial Instruments or due to an Expiry Date set for Financial Instruments, all as determined by the Company from time to time subject to its sole discretion.
11.5.711.4.7. The Company is not obliged to give reasons or notice as to the reasons for refuse, reverse, suspend, freeze, or close, or cancelling Orders or instructions prior to doing so or after. CA10042022 Tel: +00000000000 | Fax: +00000000000 | xxx.xxxxxx.xxx Moreover, in the event that the Company does decide to suspend or cancel an instruction or Order, such cancellation will 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
Orders Execution. 11.5.111.4.1. Subject to the terms of this Agreement, the Company shall execute, and transmit for execution or execute Orders (provided via the Trading Platform or via telephone) strictly in accordance with the Orders’ terms, the Trading Conditions and the Company’s Order Execution Policy. By using the Access Code and placing an Order, the Client acknowledges that the Company will be entitled CA10042022 CA27062021 Tel: +00000000000 | Fax: +00000000000 | xxx.xxxxxx.xxx to rely and act on any Order given by the Client without any further enquiry to the Client and any such Orders will be binding upon the Client. The Company shall also have no responsibility to check the accuracy of any Order. Any Order (provided via the Trading Platform or by telephone) constitutes an irrevocable instruction to the Company to proceed with the Order on the Client’s behalf.
11.5.211.4.2. Each Order given by the Client constitutes an offer to open or close a Position at the price indicated in the Trading Platform which is contingent upon the Company’s acceptance, at its sole discretion, of such offer, as indicated in the Trading Platform.
11.5.311.4.3. In CFD transactions, once an Order is placed, it cannot be revoked. The Client is aware that the Company is under no obligation to cancel the Order. A request for cancellation of an Order can be made via the Trading Platform or by calling the Company, where applicable. Requests concerning cancellation of Orders generated when the Margin is exceeded can only be made to the Company. An Order shall not be considered to be cancelled until the Client has received a written confirmation from the Company which may be given at the Company's sole and absolute discretion.
11.5.411.4.4. Subject to the following terms, all Transactions shall be opened and closed at the prices quoted on Company’s Platform. Each price is valid only at the exact date and the exact time in which such price is presented to the Client. The Client acknowledges that due to events such as rapid price fluctuations and Internet latency, the price presented on the Trading Platform may no longer remain in effect at the time the Client’s Order is executed on the Company’s servers. It is hereby agreed that Orders shall be executed as follows: Market Orders (trade requests) are executed at the price that is in effect on the Company’s Trading Platform (client side) at the exact time of execution, provided that such price is within a predetermined tolerance level from the underlying price indicated in the Company’s server and irrespective if the underlying price is above or below the price indicated in the Trading Platform (What You See Is What You Get, or WYSIWYG). In the event that the price indicated in the trading platform (client side) exceeds the above tolerance level, for example, due to movements in the underlying assets between the time a client placed its order and the time it is received and executed, high markets volatility and communication latency, the Order will be executed at the price indicated in the Company’s server which shall be different from the price indicated in the Trading Platform (Market Price), on a symmetrical basis. In the event of a substantial difference between the price indicated in the Trading Platform (client side) and the price indicated in the Company’s servers, the Order shall be rejected. Limit Orders (future orders) are executed at the market price indicated at the Company’s server which may be different than the price indicated in the Order (“Slippage”). It is provided that in case of set Limit Orders, open positions will be closed automatically upon either reaching a Limit Order, or according to the Margin Close-out Protection mechanism as per paragraph 13.6, whichever takes place first. Slippage may occur in the event where the price indicated in the order is not available in the server, for example, due to high volatility and gaps in the market prices. In such event, the order CA10042022 CA27062021 Tel: +00000000000 | Fax: +00000000000 | xxx.xxxxxx.xxx will be executed at the first available price, irrespective of the direction of the slippage, either to the client’s favor or not, in a symmetrical and transparent manner (Symmetrical Slippage). It is important to note that Slippage does not affect the Negative Balance Protection and therefore the Client will never lose more than the amount invested (including any profit, if gained), even if a slippage occurs. In addition, transactions in some currencies (e.g. RUB) or other instruments (e.g. shares, ETFs and indices) which are not traded on a 24 hours basis, may experience a market gap on a daily basis and are therefore more susceptible to slippage.
11.5.511.4.5. In accordance with clause 11.6.3 hereto, the Company, at its sole discretion, may set an Expiry Date for different Financial Instruments on the Trading Platform. The Client hereby authorizes the Company to automatically close any open Transactions with respect to such Financial Instrument/s at the date and time specified on the Expiry Date and at the price/s quoted on the Trading Platform.
11.5.611.4.6. Without prejudice to any other provisions herein, the Client acknowledges that the Company shall have the right, at its sole discretion, at any time and for any reason and without giving any notice or explanation to: refuse, reverse, suspend, freeze, limit the size and/or close any Order, Position or Transaction, including without limitation in the following cases:
(a) In case of Force-Majeure, hacker attacks and other illegal actions against the Trading Platform or any of the Company’s systems, or in the event of a suspension of trade in the Financial Markets or Underlying Asset relevant to the Financial Instruments of the Company.
(b) 2 (two) minutes before and after a critical news release (e.g. breaking news events and economic indicators announcements).
(c) Whenever the Company deems at its sole discretion that the execution of the Order aims at or may aim at manipulating the market of the Financial Instruments; constitutes an abusive exploitation of privileged confidential information (including xxxxxxx xxxxxxx); contributes to the legalization of proceeds from illegal acts or activities (money laundering) or affects or may affect in any manner the reliability or smooth operation of the Trading Platform.
(d) The Company considers that there are abnormal market conditions. The Client acknowledges that the trading of certain Financial Instruments on the Trading Platform may become volatile very quickly and without prior warning. Due to the high degree of risk involved in trading volatile Financial Instruments, the Client acknowledges and agrees that the Company reserve the right to close any or all open Transactions with respect to any Financial Instruments that the Company, acting reasonably, determines to be volatile, at the price quoted on the Trading Platform at any such time and without prior notice.
(e) Whenever the Order concerns the purchase of any Financial Instrument but there are no available cleared funds deposited with the Company or in the Bank Account to pay the purchase price of the relevant Financial Instrument and all the charges relating to the said Trading Platform. In calculating the said available funds, all funds required to meet any of the Client’s obligations include, but without limitation, obligations which may arise from the possible execution of other previously registered purchase Orders, which will be deducted from the cleared funds deposited with the Company or in the Bank Account. CA10042022 CA27062021 Tel: +00000000000 | Fax: +00000000000 | xxx.xxxxxx.xxx
(f) Whenever there are no available cleared funds deposited in the Account to pay all the charges and required margin relating to the said Order.
(g) There is absence of an essential detail of the Order.
(h) It is impossible to execute an Order or continue to hold any position at the size or price requested including, without limitations, when market prices reach, or may reach at the Company’s reasonable assumptions, zero or a negative price.
(i) The Order has more than one interpretation or is unclear.
(j) This Agreement was duly terminated by either of the Parties.
(k) If any doubt arises whatsoever as to the genuineness of the Order.
(l) If the Company suspects that the Client is in a breach of its warranties and representations detailed in Section 8 above.
(m) If the Company reasonable suspects that the Client uses unauthorized or unfair or fraudulent trading practices/method and/or adversely exploits or manipulates the Trading Platform’s capabilities and/or limitations.
(n) If the Order precedes the first quote on the Trading Platform on the Market Opening.
(o) In consequence of request of regulatory or supervisory authorities of Cyprus or any other jurisdiction or a court order.
(p) The Transaction size is less than the minimum Transaction size, or greater than the maximum Transaction size, as indicated in the Trading Conditions, the Client’s gross exposure in the Account or its Accounts or related Accounts in aggregate exceeds USD 15,000,000, or such amount as may be determined by the Company from time to time at its sole discretion; or the Client’s gross exposure in a specific Financial Instrument or CFD exceeds the amount as may be determined by the Company from time to time at its sole discretion.
(q) A quote is not obtained from the Company or the quote obtained by the Company is an Invalid Price.
(r) If the execution of the Order will increase the Client's exposure above the maximum level of exposure permitted by the Company, as may be determined by the Company from time to time at its sole discretion.
(s) Internet connection or communications are disrupted.
(t) In an Event of Default of the Client.
(u) If the value of the Client's Margin falls below the minimum Margin requirement as defined in Website and/or if the Client has a zero, or negative Balance on any Account.
(v) If the Company no longer intends to offer or support any Financial Instruments or due to an Expiry Date set for Financial Instruments, all as determined by the Company from time to time subject to its sole discretion.
11.5.711.4.7. The Company is not obliged to give reasons or notice as to the reasons for refuse, reverse, suspend, freeze, or close, or cancelling Orders or instructions prior to doing so or after. CA10042022 CA27062021 Tel: +00000000000 | Fax: +00000000000 | xxx.xxxxxx.xxx Moreover, in the event that the Company does decide to suspend or cancel an instruction or Order, such cancellation will 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
