Common use of SWAP-FREE ACCOUNTS Clause in Contracts

SWAP-FREE ACCOUNTS. 20.1. In the event the Client, due to their observance of their religious beliefs, cannot receive or pay interest, such Client may apply, by completing and submitting to the Company an application form which shall be provided to you on your request (this form may be amended by the Company from time to time) or via such other procedure as the Company may designate from time to time in its sole discretion, for their Account to be designed as a Swap Free Account not charged with or entitled to, premiums and/or rollovers and/or interest (“Swap Free Account”). The client hereby confirms and/or accepts and/or declares that a request to render their Account Swap Free shall only be made due to the said Islamic religious beliefs and for no other reason whatsoever. The Company reserves the right to refuse accepting the request of a client to designate their Account as a swap free account, upon its sole and absolute discretion which shall be conclusive and undisputable upon the Client. 20.2. In the event that the Company suspects that a Client is abusing the rights conferred to them by the classification of the Account as Swap Free Account, the Company has the right, without prior notice, to proceed with one or more of the following: a) The Company may add commission upon each and every one of the trades executed on the Swap Free Account; and/or b) The Company may cancel the special rights and/or conditions conferred to the Account due to its classification as Swap Free Account, recall the designation of the Account as Swap Free Account and render it a normal trading Account; and/or c) The Company may restrict and/or prohibit the client from hedging their positions; and/ or d) The Company may, upon its sole discretion, close any open positions and reinstate them upon the then prevailing market price. The client hereby, acknowledges, agrees and accepts that he / she shall bear all costs derived from the aforementioned action, including but not limited to, the cost on the change of the Spread. 20.3. The Company offers, at its discretion, swap free (or “Islamic”) accounts for any clients who, for religious reasons, may choose not to receive or pay daily swap fees. Clients with Swap Free Accounts shall be allowed to trade in selected CFDs in underlying Financial Instruments which shall be selected by the Company also in its sole discretion and in accordance with its internal policies. The list of such underlying Financial Instruments (or the list of those CFDs for which Swap Free trading will not be permitted) shall be notified to each Client whose account is designated as Swap Free Account. 20.4. Where you have a Swap Free Account, you are obliged to close any open CFD position within 45 (forty-five) calendar days of opening thereof. In the event of your failure to do so, the Company shall have a right to treat any such instance as an abuse by you of the terms of operation of such Swap Free Account and take any of the actions specified in paragraphs (a) to (d) of Clause 20.2 above and/ or charge to such open CFD positions the rollover charges in accordance with Clause 14 hereof, in each case with retroactive effect. 20.5. The Company reserves the right to terminate swap free privileges at any time, provided it provides notice to the clients as stipulated in this Agreement.” 20.6. Swap Free Accounts are liable for dividends, other corporate actions and daily funding charges which will be reflected in the relevant Account statements.

SWAP-FREE ACCOUNTS. 20.1. a) In the event the Client, of a customer who due to their its observance of their religious beliefs, beliefs cannot receive or pay interest, such Client customer may applyelect to designate, by completing and submitting to in the Company an application form which shall be manner provided to you on your request (this form may be amended by the Company as this may be altered from time to time) or via such other procedure as the Company may designate from time to time in its sole discretion, for their Account trading account to be designed as a Swap Free Account swap-free account not charged with or entitled to, premiums and/or rollovers and/or interest (“Swap Free Account”). The client Customer hereby confirms and/or accepts and/or declares that a request to render their Account account as a Swap Free Account shall only be made due to the said Islamic religious beliefs and for no other reason whatsoever. The Company reserves the right to refuse accepting to accept the request of a client customer to designate their Account as a swap free accountaccount an Swap Free, upon at its sole and absolute discretion which shall be conclusive and undisputable upon by the Client.Customer 20.2. b) In the event that the Company suspects that a Client Customer is abusing the rights conferred to them by the classification of the Account account as Swap Free Account, the Company has the right, without prior notice, to proceed with one or more of the following: a) i. The Company may add commission upon each and every one of the trades transactions executed on the Swap Free Account; and/or b) ii. The Company may cancel the special rights and/or conditions conferred to the Account due to its classification as a Swap Free Account, recall the designation of the Account as a Swap Free Account and render it a normal trading Account; and/or c) The Company may restrict and/or prohibit the client from hedging their positions; and/ or d) iii. The Company may, upon at its sole discretion, close any open positions and reinstate them upon at the then prevailing real market price. The client hereby, acknowledges, agrees and accepts Customer hereby acknowledges that he / she they shall bear all costs derived from the aforementioned action, including but not limited to, the cost on of the change of the Spreadspread. 20.3iv. The Company offers, at its discretion, swap free (or “Islamic”) accounts for any clients who, for religious reasons, may choose not to receive or pay daily swap fees. Clients with Swap Free Accounts accounts shall be allowed to trade remain free of charge during the grace period as indicated in selected CFDs in underlying Financial Instruments which shall be selected by the Company also in its sole discretion and below table, in accordance with its internal policiesthe respective class that the financial instrument belongs to. The list of such underlying Financial Instruments (or Positions that continue to be held after the list of those CFDs for which Swap Free trading will not be permitted) shall be notified to each Client whose account is designated as Swap Free Account. 20.4. Where you have a Swap Free Account, you are obliged to close any open CFD position within 45 (forty-five) calendar days of opening thereof. In the event of your failure to do so, the Company shall have a right to treat any such instance as an abuse by you end of the terms of operation of such Swap Free Account and take any of the actions specified in paragraphs (a) grace period, will be subject to (d) of Clause 20.2 above and/ or charge to such open CFD positions the rollover charges in accordance with Clause 14 hereof, in each case with retroactive effect. 20.5. The Company reserves the right to terminate swap free privileges at any time, provided it provides notice to the clients as stipulated in this Agreement.” 20.6. Swap Free Accounts are liable for dividends, other corporate actions and daily funding charges fees which will be reflected in charged at 22:00 GMT (or 21:00 during BST) after the relevant Account statementsend of the said period.

SWAP-FREE ACCOUNTS. 20.1. a) In the event the Client, of a customer who due to their its observance of their religious beliefs, beliefs cannot receive or pay interest, such Client customer may applyelect to designate, by completing and submitting to in the Company an application form which shall be manner provided to you on your request (this form may be amended by the Company as this may be altered from time to time) or via such other procedure as the Company may designate from time to time in its sole discretion, for their Account trading account to be designed as a Swap Free Account swap- free account not charged with or entitled to, premiums and/or rollovers and/or interest (“Swap Free Account”). The client Customer hereby confirms and/or accepts and/or declares that a request to render their Account account as a Swap Free Account shall only be made due to the said Islamic religious beliefs and for no other reason whatsoever. The Company reserves the right to refuse accepting to accept the request of a client customer to designate their Account as account a swap free accountSwap Free, upon at its sole and absolute discretion which shall be conclusive and undisputable upon by the ClientCustomer. 20.2. b) In the event that the Company suspects that a Client Customer is abusing the rights conferred to them by the classification of the Account account as Swap Free Account, the Company has the right, without prior notice, to proceed with one or more of the following: a) i. The Company may add commission upon each and every one of the trades transactions executed on the Swap Free Account; and/or b) ii. The Company may cancel the special rights and/or conditions conferred to the Account due to its classification as a Swap Free Account, recall the designation of the Account as a Swap Free Account and render it a normal trading Account; and/or c) The Company may restrict and/or prohibit the client from hedging their positions; and/ or d) iii. The Company may, upon at its sole discretion, close any open positions and reinstate them upon at the then prevailing real market price. The client hereby, acknowledges, agrees and accepts Customer hereby acknowledges that he / she they shall bear all costs derived from the aforementioned action, including but not limited to, the cost on of the change of the Spreadspread. 20.3. The Company offers, at its discretion, swap free (or “Islamic”) accounts for any clients who, for religious reasons, may choose not to receive or pay daily swap fees. Clients with Swap Free Accounts shall be allowed to trade in selected CFDs in underlying Financial Instruments which shall be selected by the Company also in its sole discretion and in accordance with its internal policies. The list of such underlying Financial Instruments (or the list of those CFDs for which Swap Free trading will not be permitted) shall be notified to each Client whose account is designated as Swap Free Account. 20.4. Where you have a Swap Free Account, you are obliged to close any open CFD position within 45 (forty-five) calendar days of opening thereof. In the event of your failure to do so, the Company shall have a right to treat any such instance as an abuse by you of the terms of operation of such Swap Free Account and take any of the actions specified in paragraphs (a) to (d) of Clause 20.2 above and/ or charge to such open CFD positions the rollover charges in accordance with Clause 14 hereof, in each case with retroactive effect. 20.5. The Company reserves the right to terminate swap free privileges at any time, provided it provides notice to the clients as stipulated in this Agreement.” 20.6iv. Swap Free Accounts are liable for dividends, other corporate actions and daily funding charges which will be reflected in accounts shall remain free of charge during the relevant Account statementsgrace period.