1. Subject of the agreement
1.1. This agreement (the ‘Customer Agreement’) is entered into by UNI FIN INVEST (hereinafter referred to as the ‘Company’) and a natural or legal person who has submitted a registration form on the Website (hereinafter referred to as the ‘Client’).
1.2. The Company is incorporated in the Republic of Mauritius. The Company is licenced and regulated by the Financial Services Commission, Mauritius (‘FSC’) (www.fscmauritius.org/en).
1.3. This Customer Agreement, the Risk Disclosure, Customer Complaint Policy, Conflict of Interest Policy, and any other documents, as may be amended and/or published from time to time (together referred to as the ‘Agreement’), set out the terms of the Services and govern the relationships between the Company and the Client.
1.4. By executing this Customer Agreement, the Client acknowledges that he or she has read, understood, and agreed with the terms of the Agreement. By agreeing to the Customer Agreement, he or she also acknowledges and agrees to the Company's Privacy Policy on the Website.
1.5. By entering into this Agreement, the Client warrants that:
1.5.1. if he or she is a natural person, he or she is of legal age in Mauritius for the purpose of entering into the Agreement, or
1.5.2. if it is a legal person, it has the legal capacity and has been duly authorised to enter into the Agreement.
1.6. In addition to English, the Company may provide, at its sole discretion, the Agreement and additional letters or notices in a language other than English. In the event of any conflict between the English version of the Agreement and the Agreement in a language other than English, the English version of the Agreement shall prevail.
1.7. The Agreement governs the relationship between the Client and the Company, including but not limited to Order execution, client acceptance policies, deposits and withdrawals, claims resolution, fraud prevention, communication, and other aspects.
1.7.1. Notwithstanding Clause 1.4, the Agreement shall commence once the Client receives an e-mail that contains their Trading Account number.
1.8. The Client understands, acknowledges, and agrees to be bound by the terms of the Agreement (including any variation, changes, amendments, addition, or novation made from time to time to the Agreement as shall be notified to the Client) by:
1.8.1. the submission of the registration form on the Website
1.8.2. the electronic acceptance of this Customer Agreement
1.8.3. the use of the Trading Platform.
1.9. A current and definitive copy of this Customer Agreement shall be made available to the Client via the Website.
1.10. In accordance with the Electronic Transactions Act 2000, the Agreement shall have legal effect, validity, and enforceability notwithstanding that an electronic record was used in its formation.
2. Terms definition
2.1. ‘Access Data’ means the access logins and passwords related to the Client's Trading Account(s), Profile, or any other data providing access to the Services provided by the Company.
2.2. ‘Ask’ means the higher price in the Quote at which the Client may open a buy order.
2.3. ‘Agent’ means a person appointed by the Client to act in their name and on their behalf by virtue of a power of attorney, whether authentic or under private signatures.
2.4. ‘Autotrading Software’ means an Expert Advisor or a cBot, a piece of software that performs trading operations automatically or semi-automatically without interference (or with partial or occasional interference) of a human.
2.5. ‘Balance’ means the total of all closed orders (including deposits and withdrawals) in the Client's Trading Account at a given time.
2.6. ‘Base Currency’ means the first currency in the Currency Pair.
2.7. ‘Bid’ means the lowest price in the Quote at which the Client may open a sell order.
2.8. ‘Business Day’ means any day other than Saturday, Sunday, or any public holiday.
2.9. ‘Client Money’ means the funds deposited with the Company and held by the Company on behalf of the Client for the purposes of trading. Client Money is calculated as the funds deposited by the Client in his or her Trading Account, plus or minus any unrealised or realised profit or loss, plus or minus any amount that is due by the Client to the Company and vice versa.
2.10. ‘Client Terminal’ means either the OctaTrader, MetaTrader 4, or MetaTrader 5 platform or any other software that is used by the Client to obtain information from financial markets in real time, perform market analysis and research, perform, open, close, modify, and delete Orders, or receive notifications from the Company.
2.11. ‘Commodities’ means tradable physical assets such as metals, including gold, silver, platinum, and copper, as well as crude oil, natural gas, and other resources.
2.12. ‘Company News Page’ means the section of the Website where news is published.
2.13. ‘Corporate Action’ means the activity of a Stock corporation that brings crucial changes and impacts its stakeholders (for example, dividend, split, consolidation, buyback, bankruptcy, or any other action that a Stock corporation can take). Depending on the circumstances of each event, in order to preserve the economic equivalent of the rights and obligations between customers and a Stock corporation, the Company reserves the rights to:
2.13.1. perform Balance operations on Clients' accounts depending on their Open Positions
2.13.2. close positions at the market price immediately before a Corporate Event occurs
2.13.3. reopen clients' positions in order to preserve the economic equivalent of rights and obligations between Clients and a Stock corporation
2.13.4. stop trading on instruments that have undergone Corporate Action.
2.14. ‘Currency of the Trading Account’ means the currency in which the Trading Account is denominated; all calculations and operations on the account are performed in this currency, including all charges, Spreads, commissions, and swaps when applicable.
2.15. ‘Currency Pair’ means the underlying Instrument based on the change in the value of one currency against the other.
2.16. ‘Derivative’ means a financial product that the Client can trade on margin (‘Leveraged Products’) with borrowed money. The Derivative is traded directly between the Client and the Company. The value of the Derivative is determined as the difference between the underlying Instrument's price at the time of executing the opening and closing Orders. This difference in price forms the basis for determining the financial gains or losses resulting from trading the Derivative. All Derivatives offered by the Company are listed on the Website.
2.17. ‘Derivative on Stock’ means the Derivative in which the underlying asset is represented by a Stock and its price fluctuations.
2.18. ‘Derivative on Index‘ means the Derivative in which the underlying asset is represented by an Index and its price fluctuations.
2.19. ‘Dispute’ means any Dispute arising out of or in connection with the Agreement.
2.20. ‘Dividend Adjustment’ means a Balance operation in the event of a dividend payment on a single Derivative on Stock or Index. For Long Positions (buy Orders), the Dividend Adjustment is credited to the Balance; for Short Positions (sell Orders), the Dividend Adjustment is deducted from the Balance. The Dividend Adjustment is executed on the Ex-dividend Date. The Dividend Adjustment is calculated as follows: Dividend Adjustment = Dividend amount per one share × Contract size × Number of Lots.
2.21. ‘Energy’ means a type of underlying asset for Derivatives represented by Energy products, including but not limited to oil, natural gas, and electricity.
2.22. ‘Ex-dividend Date’ means the date by which the Client needs to hold the dividend-paying Derivative on Stock position to receive the upcoming Dividend Adjustment payment. If the Client purchases and holds the Derivative on Stock position before its Ex-dividend Date, the next Dividend Adjustment will be applied to their Balance. Conversely, if the Client purchases the Derivative on Stock after the Ex-dividend Date, the Dividend Adjustment will not be applied to his or her Balance.
2.23. ‘Floating Profit/Loss’ means the current profit or loss on Open Positions calculated at the current price.
2.24. ‘Force Majeure Event’ means any of the following events: any act, event, or occurrence (including, without limitation, any strike, riot or civil commotion, an act of terrorism, war, an act of God, accident, fire, flood, storm, electronic, communication equipment or supplier failure, interruption of power supply, civil unrest, statutory provisions, and lockouts) prevents the Company from maintaining an orderly market for one or more of the Instruments, or suspension, liquidation or closure of any market, abandonment or failure of any event to which the Company relates its Quotes, imposition of limits or special or unusual terms on the trading in any such market or on any such event.
2.25. ‘Free Margin’ means the funds on the Client's account that may be used to open a position. Free Margin is calculated in the following way: Free Margin = Equity − Required Margin.
2.26. ‘IB’ means the Client whose application for the introducing broker status submitted via the Website was approved by the Company.
2.27. ‘Index’ means a type of Underlying Asset for the Derivative, and it is defined as a quantitative measurement reflecting the price performance of a specific group of shares on the exchange.
2.28. ‘Indicative Quote’ means a price or a Quote at which the Company has the right not to accept or execute any Orders or perform any modifications to the Orders.
2.29. ‘Initial Margin’ means the margin required to open a position. It can be viewed in the trading calculator.
2.30. ‘Instruction’ means the Instruction from the Client to open or close a position or to place, modify, or delete an Order.
2.31. ‘Instrument’ or ‘Underlying Asset’ is any Currency Pair, Сommodity (for example, a Precious Metal or Energy), Stock, or Index.
2.32. ‘Intraday Trading Instrument’ means a type of Trading Instrument specifically designed for trading activities within the designated trading session. All positions and Orders executed with the Intraday Trading Instruments are subject to automatic liquidation at the last market price recorded at the end of the designated trading session.
2.33. ‘Leverage’ means the virtual credit given to the Client by the Company. For example, 1:500 Leverage means that the Initial Margin for the Client will be 500 times smaller than the Transaction Size.
2.34. ‘Long Position’ means a buy Order, that is, buying the Base Currency against the Quote Currency.
2.35. ‘Lot’ means 100,000 units of the Base Currency, 1,000 barrels of crude oil, or any other number of contracts or troy ounce described in the contract specifications.
2.36. ‘Lot Size’ means the number of units of a Base Currency or the number of troy ounces. of a Precious Metal defined in the contract specifications.
2.37. ‘Margin’ means the amount of funds required to maintain Open Positions as determined in the contract specifications for each Instrument.
2.38. ‘Margin Level’ means the ratio of Equity to Required Margin. It is calculated in the following way: Margin Level = (Equity / Required Margin) * 100%.
2.39. ‘Margin Trading’ means Leverage trading when the Client may make Transactions having fewer funds on the Trading Account compared to the Transaction Size.
2.40. ‘Open Position’ means a Long Position or a Short Position which has not yet been closed.
2.41. ‘Order’ means an instruction from the Client to the Company to open or close a position when the price reaches the Order Level.
2.42. ‘Order Level’ means the price indicated in the Order.
2.43. ‘Profile’ means a personal profile created by the Company for the Client within the Company's Services. The Profile is for the Client's private use only and allows the Client to manage his or her personal information and all Trading Account settings
2.44. ‘Personal Data’ means any information relating to an identified or identifiable individual, in particular by reference to an identifier such as a name, an identification, number, location data, an online identifier, or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural, or social identity of that individual.
2.45. ‘Precious Metal’ means a type of underlying asset for Derivatives represented by rare and organically occurring metallic elements that have an inherent value (for example, gold or silver).
2.46. ‘Price Gap’ means that the current Bid price is higher than the Ask price of the previous Quote or the current Ask price is lower than the Bid price of the previous Quote.
2.47. ‘Quote’ means the information about the current price for a specific Instrument in the form of the Bid and Ask prices.
2.48. ‘Quote Currency’ means the second currency in the Currency Pair, which can be bought or sold by the Client for the Base Currency.
2.49. ‘Rate’ means the following:
2.49.1. the value of the Base Currency in relation to the Quote Currency
2.49.2. the price of one troy ounce worth of the Precious Metal against the U.S. dollar or any other available currency for this Instrument
2.49.3. the price of one barrel of the Energy against the U.S. dollar or any other available currency for this Instrument
2.49.4. the price of one contract against the currency of the corresponding country.
2.50. ‘Required Margin’ means the margin required by the Company to maintain Open Positions.
2.51. ‘Risk Disclosure’ means the Risk Disclosure document.
2.52. ‘Segregated Account’ means a bank account of the Company wherein the funds of the Clients are kept separately from the funds of the Company, as required by the local laws.
2.53. ‘Services’ means the Services provided by the Company to the Client as provided according to Clause 3.1 and in accordance with its licence.
2.54. ‘Short Position’ means a sell position, that is, selling the Base Currency against the Quote Currency.
2.55. ‘Spread’ is the difference between the Ask and the Bid price.
2.56. ‘Stock’ is a type of Underlying Asset for the Derivatives represented by units of ownership in one or more companies.
2.57. ‘Trading Account’ is the Client's personal account with the Company from which the Client can perform Orders, Transactions, top-ups, and other operations covered by the Services.
2.57.1. ‘Real Trading Account’ is the Trading Account that allows the Client to perform trading activity by means of his or her personal funds, and
2.57.2. ‘Demo Trading Account’ is the Trading Account that allows the client to perform trading activity by means of simulated funds, which does not generate any profit or expense for the Client.
2.58. ‘Trading Platform’ is all the Company's software and hardware environment which provides real-time Quotes and allows Order placing, modification, deletion, or execution. The Trading Platform also calculates all the mutual obligations between the Client and the Company.
2.59. 'Transaction' means a сontract for the price difference in relation to any Instrument or any combination of the Instruments.
2.60. ‘Transaction Size’ is the Lot Size multiplied by the number of Lots.
2.61. ‘Underlying Market’ means the exchange and/or other similar body and/or liquidity pool on which an Instrument is traded.
2.62. ‘Wallet’ means an account of the Client with the Company designed for non-trading transactions and facilitating activities for the Clients' trading operations.
2.63. ‘Website’ means the website of the Company accessible at www.octafx.com.
3. Services
3.1. The Company holds an Investment Dealer (Full Service Dealer excluding Underwriting) Licence (the ‘Licence’) issued to it by the FSC and is allowed to provide Services as authorised by the Licence. Further details on the Services permitted under the Licence can be accessed below.
3.2. Subject to the Agreement, the Company will offer the following Services to the Client: receive and transmit trading Orders or execute trading Orders for the Client using the provided Trading Instruments.
3.3. The Company provides access to Client Terminal, technical analysis tools, any third-party licence to any software embedded in the MetaTrader 4 and MetaTrader 5 platforms, and any third-party services offered along with the Company's Services.
3.4. Subject to the Agreement, the Company may enter into Transactions with the Client either as a principal or as an Agent, as the case may be, using the Trading Instruments specified on the Website.
3.5. The Company shall carry out all Transactions with the Client on a non-advisory basis. The Company is entitled to execute Transactions notwithstanding that a Transaction may not be suitable for the Client. The Company is under no obligation to monitor or advise the Client on the status of any Transaction, to make margin calls, or to close out any Client's Open Positions unless entitled to do so under a newly acquired license.
3.6. The Client shall not request the Company to provide any investment advice or to make any statements of opinion with the intention to encourage the Client to make any particular Transaction.
3.7. The Company shall not provide physical delivery of the Underlying Asset of an Instrument in relation to any Transaction. Profit or loss in the Currency of the Trading Account is credited to or debited from the Trading Account once the Transaction is closed.
3.8. Without prejudice to Clause 3.5 above, the Company may, from time to time and at its discretion, provide information of a general nature in newsletters, which it may post on its Website or deliver to its subscribers in any other manner. Where it does so:
3.8.1. this information is provided solely to enable the Client to make his or her own investment decisions and cannot be considered as investment advice
3.8.2. where the document contains a restriction on the person or category of persons to whom the shared document is intended and/or distributed, the Client agrees not to distribute the shared document to such restricted person or category of persons, and
3.8.3. the Company makes no representation, warranty, or guarantee as to the accuracy or completeness of such information or as to the tax consequences of any Transaction; The Company is required to comply with all applicable Anti-Money Laundering and Counter Financing of Terrorism laws and regulations (‘AML/CFT Laws’). Accordingly, the Company shall conduct thorough due diligence on all its Clients to ensure compliance with such legal requirements.
3.9. The Company reserves the right, at its discretion, to refuse to provide the Services to the Client at any time. The Client agrees that the Company shall have no obligation to inform the Client of the reasons for such refusal, provided that such refusal is not in violation of any statutory or regulatory obligations or provided that such refusal to provide information is by virtue of a statutory provision.
3.10. The Company reserves the right to reject the Client by returning their initial deposit (that is, the total amount deposited by the Client) at any time in case the Company deems it appropriate and necessary (including but not limited to as a result of Client's malicious, illegal, inappropriate, fraudulent, or any other unacceptable actions).
3.11. To ensure compliance with the applicable AML/CFT laws, the Company is required to perform a detailed verification of the identity of the Client and his or her source of funds on an ongoing basis.
3.12. All trading decisions made by the Client are solely his or her responsibility. The Company shall not be liable for any consequences arising from those decisions.
3.13. The Company has developed a risk-based approach towards the detection of money laundering (‘ML’) and terrorist financing (‘TF’) which is embedded in its process for Client acceptance.
3.14. Consequently, the Company shall conduct a customer due diligence (‘CDD’) by identifying its Clients, whether permanent or occasional, and verifying the identity of such Clients using reliable, independent source documents.
3.15. For Clients that are natural persons, the Company shall collect the identification data on the natural person and conduct the verification based on such data.
3.16. For Clients that are legal persons, the Company shall identify and verify the identity of the beneficial owners by obtaining information on:
3.16.1. the identity of all natural persons who ultimately have a controlling ownership interest in the legal person
3.16.2. the identity of the natural person exercising effective control of the legal person, or
3.16.3. the identity of the natural person who holds the position of a Senior Managing Officer.
3.17. The Company prohibits trading as an Agent or in any other capacity on behalf of Clients, except for specific campaigns and programs arranged by the Company such as Octa Copy. Except for the campaigns and/or programs specified in this clause, the following shall apply:
3.17.1. the Client undertakes not to allow any other Client or any other person to trade on their behalf, and not to trade on behalf of others
3.17.2. in the event of a breach of Clause 3.17.1 the Client:
3.17.2.1. shall hold the Company harmless and be liable to such other Client or such other person for any losses and/or damage such other Client or such other person may have, and
3.17.2.2. shall not have any claims against the Company and may claim such loss and/or damage only from the other Client or any other person who has been trading on his or her behalf.
3.18. Creating several Profiles by using multiple email addresses is prohibited. If the Company reasonably suspects the Client to operate more than one Profile, the Company reserves the right to close all Profiles except one at its sole discretion which will also mean closing the Trading Accounts opened within them without prior notification of the Client. The Company shall not bear any responsibility for any trading activity of the Client performed through such excessive Profiles and the consequences of such activity, including any losses borne by the Client upon closure of such Profiles and Trading Accounts. Personal funds remaining in the excessive Profiles shall be transferred to the remaining Profile. The Company reserves the right to close the Client's opened orders by the market Quotes in case of creating several Profiles.
3.19. The type of due diligence measure to be applied to a Client will depend on the risk such a Client poses to the Company.
3.20. Where the Client is a high-risk person, the Company shall conduct enhanced due diligence (‘EDD’) on such a Client.
3.21. The Company may, at its own discretion, implement a simplified CDD in cases where lower risks have been identified, provided that the CDD measures are commensurate with lower risk factors and in accordance with the AML/CFT laws.
3.22. The Company reserves the right to refuse to enter into or continue a business relationship if a Client fails to provide the required information or if the provided information cannot be satisfactorily verified. Additionally, where required, the Company will file a suspicious transaction report with the relevant authority.
3.23. The Company may independently verify the Client's identity and financial details by contacting relevant parties. The specific obligations and authorisations are detailed as follows:
3.23.1. the Client hereby agrees and undertakes to provide the Company with all the necessary and relevant information it requires as part of its CDD procedures
3.23.2. the Client hereby further authorises the Company or any of its Agent(s) to investigate his or her identity, credit standing, and/or any current and past investment activity, and, in connection with such investigations, to contact such banks, brokers, and other related parties as the Company shall deem appropriate and necessary
3.23.3. without prejudice to the terms herein, the Client agrees that the Company shall be held harmless against any loss arising as a result of any delay or failure to process any application or transaction if all such documentation as has been requested by us has not been provided by him or her.
3.24. The Company reserves the right to modify and correct any information provided by Clients during registration at its sole discretion, should discrepancies arise between the information submitted by the Client during registration and his or her identity documents. This may include slight differences in the spelling of names, prefixes, or dates. Upon the discovery of discrepancies, personal information of the Client will be corrected in accordance with the identity documents provided by the Client.
3.25. Market commentary, news, or other information are subject to change and may be modified by the Company at any time without notice. Under no circumstances such information shall be considered as direct or indirect trading advice.
3.26. By accepting this Agreement, the Client confirms that he or she has read and understood the terms of the Agreement and agrees that Orders may only be executed through the Client Terminal.
3.27. The Client agrees that the Company may modify, add, rename, or cancel the Services offered under the Agreement either partially or completely without prior notification. The Client acknowledges and agrees that this Customer Agreement shall apply to the Services as modified, added, or renamed in the future, in addition to the Services currently provided by the Company.
3.28. The Company shall not execute any Orders at Quotes different from those offered by the Trading Platform, unless permitted under this Customer Agreement.
3.29. The Company shall not be considered a tax agent under any circumstances. Clients are solely responsible for fulfilling their own tax obligations and any other legal responsibilities independently.
3.30. Without prejudice to Clause 23.1 below, the Company reserves the right to automatically suspend the Trading Account created on Client Terminal in the following cases:
3.30.1. where the Client does not add funds to the Trading Account within seven (7) calendar days after logging into the Trading Platform with the credentials of the Trading Account
3.30.2. where the Client fails to add funds to his Trading Account within thirty (30) calendar days of any of the following events, whichever occurs first:
3.30.2.1. last Order opening
3.30.2.2. last Order closing
3.30.2.3. last Trading Account deposit
3.30.2.4. last Trading Platform login.
3.31. The Client may reactivate the suspended Trading Account at any time by pressing the corresponding button in the Profile or the Octa trading app or by making any deposit or transfer into such Trading Account. The trading credentials, trading history, Balance, and withdrawal availability for such Trading Account, in this case, remain unchanged.
3.32. The Company shall classify its Client as a retail investor for the purposes of the Securities Act 2005. The Client shall have the right to request a different method of categorisation which the Company may accept subject to Clause 3.38.
3.33. The Client acknowledges and agrees that the Company will rely on the accuracy, completeness, and correctness of the information provided by the Client during the registration of their Profile and filling of identification forms and the financial suitability questionnaire when categorising and dealing with the Client.
3.34. The Client undertakes to promptly notify the Company in writing of any changes to ensure the accuracy and completeness of this information at all times.
3.35. Should the Client be re-categorised, the Client acknowledges and accepts that the safeguards provided to it under the laws may differ.
3.36. In addition to the conditions stated in Clause 4.8.3 below, the Company reserves the right to automatically delete the Trading Account after the below periods of inactivity (the period of inactivity is hereinafter measured according to the last trading activity date, last access date, last deposit or withdrawal date, or the date on which the Client created the Profile if the Trading Account was not activated, whichever occurs first) in the following cases:
3.36.1. if the Real Trading Account created on the MetaTrader 4 platform is inactive for thirty (30) consecutive days
3.36.2. if the Demo Trading Account created on the MetaTrader 4 platform after creating the Profile is inactive for eight (8) consecutive days
3.36.3. if the Demo Trading Account created without creating the Profile (without registration) is inactive for three (3) consecutive days
3.36.4. if the Real Trading Account created on the MetaTrader 5 platform has not had any activity on it since its creation and is inactive for seven (7) consecutive days
3.36.5. if the Trading Account created on the MetaTrader 5 platform has had prior activity on it and is inactive for ninety (90) consecutive days
3.36.6. if the Real Trading Account created on the MetaTrader 5 platform has been inactive for three hundred sixty-five (365) consecutive days and its Balance is less than 5 units of the Currency of this Trading Account. All funds from this Trading Account will be transferred to the Wallet
3.36.7. if the Demo Trading Account created on the MetaTrader 5 platform is inactive for sixty (60) consecutive days
3.36.8. if the Real Trading Account created on the OctaTrader platform is inactive for twenty-eight (28) consecutive days, and
3.36.9. if the Demo Trading Account created on the OctaTrader platform is inactive for seven (7) consecutive days.
3.37. The Trading Platform is not intended for distribution to and should not be accessed by any person who:
3.37.1. is under the age of 18 and/or lacks legal capacity to enter into any contract under the laws of Mauritius
3.37.2. resides in a jurisdiction where such access or use would violate local laws or regulations. The Trading Platform and the Services are not available in jurisdictions where Derivative trading activities or any such activities are prohibited by the law
3.37.3. is an employee, director, associate, Agent, affiliate, relative, or otherwise connected to the Company or any affiliate thereto.
3.38. The Client agrees that it is his or her responsibility to ensure that his or her use of the Trading Platform complies with all applicable laws and regulations in his or her jurisdiction.
3.39. Without prejudice to Clause 3.24, adhering to the above, the Company reserves the right, acting reasonably, to suspend and/or refuse access to and use of the Trading Platforms and/or close the Trading Account and terminate the Agreement in its sole discretion.
3.40. The Client acknowledges and agrees that the Company may provide the Trading Platform to other Clients and agrees that nothing herein will be deemed or construed to prevent the Company from providing any Services to such other Clients.
3.41. Subject to the terms and conditions of this Agreement, the Company hereby grants the Client a personal, limited, non-exclusive, revocable, non-transferable, and non-sublicensable licence to install and use the Trading Platform in object code only. This licence is granted solely for the personal use and the benefit of the Client, in strict accordance with the terms of this Customer Agreement.
3.42. If any third-party software is included within or embedded in the Trading Platform, such software is provided subject to the applicable terms of this Customer Agreement and any additional terms of the third-party licences (the ‘Third-party Licences’) that may apply. The Client agrees to comply with the terms of any applicable Third-party Licences provided by the Company The Company provides no express or implied warranty, indemnity, or supporting obligations with respect to any Third-party Licences, and shall not be liable for any issues arising from or related to the use of such third-party software.
3.43. The Company reserves any and all rights to the Trading Platform not expressly granted to the Client under this Customer Agreement. The Trading Platform is granted to the Client solely for the purpose of facilitating trading with the Company and is under no circumstances sold to the Client. The Trading Platform, all copies, and any derivative works thereof (by whomsoever created), the associated goodwill, copyrights, trademarks, logos, know-hows, patents, and any intellectual property rights, are and shall remain the exclusive property of the Company and its licensors. Except as expressly provided in this Customer Agreement, no other licence right or interest right in any goodwill, trademark, copyright, logo, know-how, patent, service mark, or other intellectual property right in the Trading Platform or any part or derivative work thereof is granted or conveyed to the Client.
3.44. The Client agrees to take all reasonable steps to:
3.44.1. procure and maintain, at their own expense and in proper working order throughout the term of this Customer Agreement, all hardware, operating environment (including operating system software), backup means, and infrastructure necessary for installation, operation, and maintenance of the Trading Platform (including without limitation uninterruptible power systems and electrical backup devices)
3.44.2. prevent any virus spreading, security breaches, and other disabling events from damaging the Trading Platform due to the Client's acts or omissions
3.44.3. implement and plan for the use and maintenance of appropriate protection in relation to the security and control of access to the Client's computer, computer viruses, or other similar harmful or inappropriate materials, devices, or information.
3.44.4. The Client may share with the Company in writing any suggestions for modifications, design changes, and improvements to the Trading Platform. The Company has the right, but not the obligation, to make modifications to the Trading Platform based on the Client's suggestions. Any modifications, design changes, and improvements made to the Trading Platform as a result of such feedback shall be the exclusive property of the Company.
3.44.5. The Company shall provide the Trading Platform with reasonable skill and care, consistent with industry standards for similar services.
3.44.6. The Company reserves the right, at its sole discretion, to expand, modify, or remove any part of the Trading Platform from time to time. The Company shall not be liable for any such changes under this Customer Agreement. Where practicable, the Company will use reasonable endeavours to replace any modified or removed part of the Trading Platform with an equivalent feature or functionality.
3.44.7. The Company reserves the right to shut down the Trading Platform at any time outside of the Business Days for maintenance purposes without prior notice to the Client. In these cases, the Trading Platform will be inaccessible. The Company shall not be liable for any loss or inconvenience caused by such maintenance activities.
3.44.8. The Company makes no express or implied representations or warranties regarding the Trading Platform, including but not limited to the following:
3.44.8.1. the Trading Platform shall continuously or uninterruptedly be available at all times. Access may be affected by routine maintenance, repairs reconfigurations, upgrades, or other factors
3.44.8.2. the operation, quality, or functionality of the Trading Platform
3.44.8.3. the Trading Platform will be free from errors, defects, viruses, or other harmful components which may have any contaminating or destructive properties, including such components which may result in the loss or corruption of your data or other property. The Company shall not be liable for any data loss or any replacement of equipment or software by the Client as a result of the use of the Trading Platform.
3.45. The Client agrees to the following terms regarding the use of the Trading Platform:
3.45.1. he or she can only use the Trading Platform for so long as he or she is authorised to do so
3.45.2. he or she cannot use the Trading Platform for any purpose other than for the purpose for which it has been provided under this Agreement
3.45.3. he or she is responsible for the use of the Trading Platform (including the Account Credentials) by himself or herself.
3.46. The Client agrees not to:
3.46.1. use the Trading Platform for any illegal or inappropriate purposes
3.46.2. interfere with or disrupt the proper operation of the Company's software, hardware, systems, or networks. This includes, but is not limited to, not knowingly or negligently transmitting files that may interrupt, damage, destroy, or limit the functionality of any computer software, hardware, systems, or networks, including corrupted files or files that contain viruses, Trojan horses, worms, spyware, or other malicious content
3.46.3. attempt to gain unauthorised access to the Company's computer system or those of other users, or to parts of the Trading Platform to which he or she does not have access rights. This includes the attempt to reverse engineer or otherwise circumvent any security measures that the Company has applied to the Trading Platform
3.46.4. take any action that could interrupt or degrade the provision of the Trading Platform to other users
3.46.5. convey any false, unlawful, harassing, defamatory, abusive, hateful, racial, threatening, harmful, vulgar, obscene, seditious, or otherwise objectionable or offensive material of any kind or nature
3.46.6. conduct any commercial business on the Trading Platform
3.46.7. knowingly or negligently upload or download files that contain software or other material protected by copyrights, trademarks, patents, or other intellectual property rights (or rights of confidentiality or privacy of publicity, where applicable) unless he or she owns or controls the rights thereto or have received all necessary authorisation
3.46.8. falsify the origin or source of any content or material
3.46.9. use any software which applies artificial intelligence analysis to the Company's systems and/or the Trading Platform
3.46.10. intercept, monitor, damage, or modify any communication not intended for the Client
3.46.11. use any type of spider, virus, worm, Trojan horse, time bomb, or any other codes or instructions that are designed to distort, delete, damage, or disassemble the Trading Platform or the communication system or any system of the Company
3.46.12. send any unsolicited commercial communication not permitted under applicable law
3.46.13. perform any action that will or may compromise the integrity of the Company's computer system or the Trading Platform or cause such system to malfunction or cease its operation
3.46.14. perform any action that could facilitate the irregular or unauthorised access or use of the Trading Platform
3.46.15. unlawfully log into the Trading Platform and execute an Order to buy or sell the Instrument from a location or IP address originating from a region or jurisdiction where it is not allowed for regulatory reasons.
3.47. The Client is expressly prohibited from downloading, saving, copying, or otherwise reproducing any part of the Trading Platform.
4. Client Orders and Transactions
4.1. The Company provides market execution on Trading Instruments. When entering into the Transaction, the Company may act as either the principal or the agent on behalf of the Client, depending on the specific situation. In any case, the Company is committed to acting in the best interest of the Client, prioritising their welfare and benefits. While some positions of the Client might be offset by external liquidity providers, there could be some cases in which the Orders may fail to be offset, or the Company may solely decide not to offset an Order or a group of Orders.
4.2. As a result of the nature of market execution, slippage during Orders opening or closure may occur. The Client agrees that such possible occasional slippage is a natural consequence and feature of market execution, and the Company is not responsible for it in any way.
4.3. Any possible open or close price deviation is subject to the available liquidity. The Company bears no responsibility for the consequences of such deviations and/or price differences from the price requested by the Client.
4.4. The Client can cancel a sent Order only while it is in the queue with the ‘Order is accepted’ status. In this case, the Client should press the ‘Cancel order’ button. Given specifics of the Client Terminal, the Order cancellation can not be guaranteed.
4.5. The Client's request to open, modify, or close an Order may be declined in the following cases:
4.5.1. during the market opening, when the Order is sent before the first Quote has been received by the Trading Platform
4.5.2. in exceptional market conditions
4.5.3. in case the Client does not have sufficient margin. In this case, ‘Not enough money’, ‘Insufficient funds’, or any similar message is displayed by the Trading Platform, and
4.5.4. in case the Client uses Autotrading Software performing over thirty (30) requests per minute, the Company reserves the right to ban such Expert Advisors or cBots.
4.6. The use of the same IP address by different Clients can be a reason to consider all the Orders in all the accounts performed from this IP address as those performed by the same Client.
4.7. The Company reserves the right to cancel Orders opened or closed by off-market Quotes.
4.8. The use of arbitrage strategies is prohibited. Arbitrage is a strategy aimed at profiting by exploiting the difference in prices of identical or similar Instruments in different markets or in different forms, including but not limited to latency abuse, price manipulation, time manipulation, or system abuse. If the Company reasonably suspects that the Client uses arbitrage strategies in an explicit or hidden way, the Company reserves the right to do the following:
4.8.1. cancel all Orders of the Client
4.8.2. cancel the Client's profit associated with all closed Orders
4.8.3. close all Trading Accounts of the Client and refuse further provision of the Services to the Client
4.8.4. apply overnight commision which means the interest added or deducted for holding a position open overnight in trading.
4.9. In exceptional cases, Orders lasting less than one hundred and eighty (180) seconds can be cancelled if they are considered abuse.
4.10. The Company reserves the right to close the Client's opened Orders by the market Quotes in the following cases:
4.10.1. the Client is underage
4.10.2. the Client is from a country to which the Company does not provide its Services
4.10.3. the Client uses any arbitrage strategies as considered by the Company at its sole discretion
4.10.4. the Client conducts any other violation of this Agreement or any of the Company's policies.
4.11. The Company reserves the right to cancel the Client's Orders in case they do not comply with the Agreement.
4.12. A buy Order shall be opened by an Ask price. A sell Order shall be opened by a Bid price.
4.13. A buy Order shall be closed by a Bid price. A sell Order shall be closed by an Ask price.
4.14. The Company reserves the right to increase Spreads in case one or more of the following events occur:
4.14.1. in case the market conditions become irregular
4.14.2. in case the trading conditions for one or more Currency Pairs have changed, or
4.14.3. in case of (a) Force Majeure Event(s).
4.15. The Company is entitled to close Open Positions and pending orders for the Intraday Trading Instruments at the end of the particular trading session of such Instruments.
4.16. The Company shall not have any obligation to accept, execute, or cancel all or any part of a Transaction that the Client seeks to execute or cancel through an Electronic Trading Service. Without limitation of the foregoing, the Company does not bear any responsibility for any transmissions that are inaccurate or not received by the Company, and it may execute any Transaction on the terms of which it have thereof received. Delays, lags, or latency may be caused by poor or weak internet connection or outages, application or software failures, and device-related issues, and Company does not bear any responsibility for any losses caused by such delays, lags, or latency caused by poor connectivity.
4.17. The Client may trade on the Trading Platform using an algorithmic trading system (the ‘ATS’) which trades the market on its behalf. The Client acknowledges and agrees that ATS is inherently risky by virtue of its nature. The Company does not encourage or endorse it as a practice.
4.18. Where the Client trades using an ATS where it is so permitted under the law of Client's country of residence or jurisdiction, the Company shall not be liable for any direct or indirect losses or damages incurred by the Client resulting from, but not limited to:
4.18.1. the use of the ATS
4.18.2. any fault, omission, or negligence while coding the strategy, or
4.18.3. failure on the part of the ATS or the software provider.
5. Order processing
5.1. When the Client's Order to open the position comes to the server, an automatic check of the Trading Account for Free Margin for the open Order is carried out. If the Required Margin is present, the Order is opened. If the margin is not sufficient, the Order is not opened. Due to market execution, an opening price may differ from the requested one. The note about the open Order appearing on the log file of the server confirms that the Client's request has been processed and the Order has been opened. Each open Order on the Trading Platform receives a ticker.
5.2. The Company reserves the right to aggregate the Instructions received from its Clients to open or close Transactions. Aggregation means combining one Client's Instruction with those of other Clients for execution as a single Order. The Company may combine the Client's Instruction with those of other Clients if it reasonably believes that this is in the overall best interests of the Clients as a whole. However, on occasions, aggregation may result in them obtaining a less favourable price once their Instructions have been executed. The Client acknowledges and agrees that the Company shall not have any liability to him or her as a result of any such less favourable price being obtained.
5.3. After the execution of a Transaction, the Company shall confirm the details of that Transaction to the Client (the confirmation may be in electronic format or made available on the Website, in both cases such confirmation shall have the same effect as if served to the Client in written hard copy) as soon as possible after execution. The content of the Company's confirmations will, in the absence of a material error, be deemed conclusive and binding on the Client unless he or she objects in writing to the Company within one (1) Business Day of receipt of such confirmation. Any error or inaccuracy relating to a confirmation shall not affect the validity of the underlying Transaction.
6. Mandatory position closure (Margin call and Stop Out)
6.1. A margin call occurs whenever the account's Margin Level falls below the designated percentage described in the Trading Account specification on the Website. In this case, the Company is entitled but not liable to close the Client's positions.
6.2. The Company is obliged to close the Client's Open Positions without prior notification in case the Margin Level falls below the designated percentage described in the Trading Account specification on the Website. This event is called Stop Out.
6.3. Stop Out is executed at a current market Quote on a first-come-first-serve basis. Stop Out will be recorded in the server's log file as a ‘Stop Out’.
6.4. In case the Client has several Open Positions, the first position to close will be the one with the highest Floating Loss. In case a Stop Out leads to the account Balance becoming negative, this does not imply any debt payments from the Client and cannot be regarded as such. The Company will compensate the account Balance to zero. In exceptional cases (should the Company deem the Client's actions fraudulent or intentional), the Company may claim the debt.
6.5. Margin call and Stop Out levels may be increased during news releases, periods of high market volatility, abnormal market conditions, and other irregular events.
7. Leverage modification
7.1. Leverage modification by the Client is only allowed once every 24 hours.
7.2. The Company reserves the right to modify the Client's Leverage settings at any time without prior notification.
7.3. The following Leverage restrictions are applied to all account types:
7.3.1. Leverage 1:1000 is provided for accounts with maximum personal funds of up to 5,000 USD/EUR (depending on the account currency)
7.3.2. Leverage 1:500 is provided for accounts with maximum personal funds of up to 35,000 USD/EUR (depending on the account currency)
7.3.3. Leverage 1:200 is provided for accounts with maximum personal funds of up to 125,000 USD/EUR (depending on the account currency)
7.3.4. Leverage 1:100 is provided for accounts with maximum personal funds of up to 250,000 USD/EUR (depending on the account currency)
7.3.5. Leverage 1:50 is provided for accounts with maximum personal funds of up to 500,000 USD/EUR (depending on the account currency)
7.3.6. Leverage 1:30 is provided for accounts with maximum personal funds of up to 1,000,000 USD/EUR (depending on the account currency)
7.3.7. Leverage 1:25 is provided for accounts with maximum personal funds of up to 3,000,000 USD/EUR (depending on the account currency).
7.3.8. Leverage 1:15 is provided for accounts with maximum personal funds of up to 3,000,000 USD/EUR (depending on the account currency)
7.3.9. Leverage 1:5 is provided for accounts with maximum personal funds of up to 5,000,000 USD/EUR (depending on the account currency)
7.4. Should it be deemed necessary or appropriate, the Company may at its discretion change the Leverage of any account under circumstances different from the cases described in the Agreement.
7.5. Personal funds are calculated in the following way: Personal Funds = Balance + Credit + Unrealised PnL.
7.6. Unrealised PnL is calculated in the following way: Unrealised PnL = Positive Opened Orders PnL + Negative Opened Orders PnL.
7.7. PnL is calculated in the following way: PnL = (Close price − Open price) × Contract size × Number of Lots.
8. Trading conditions
8.1. Full trading conditions, including but not limited to current Spreads, Currency Pairs, Lot Sizes, Transaction sizes, commissions, volume and/or deposit limitations, and account types, are located on the Website. The Company reserves the right to modify, add, or cancel any or all of the trading conditions either on a general or personal basis. Such modifications are subject to prior notification.
8.2. Any kind of abusing and/or taking unfair (direct or indirect) advantage of the Company's trading conditions may be a subject of investigation. Should facts of such abuses arise, the profit and/or loss gained with this advantage may be cancelled at the Company's sole decision. The Client fully acknowledges this.
8.3. The Company reserves the right to, without the Client's consent, either void from the outset or amend the terms of any Transaction that it reasonably believes, at its sole reasonable discretion, to contain or be based on an obvious or palpable error (a ‘Manifest Error’). If the Company chooses to amend the terms of any such Manifest Error, the amended level will be such level as it reasonably believes would have been fair at the time the Transaction was entered into. In deciding whether an error is a Manifest Error, the Company shall act reasonably, and it may take into account any relevant information including, without limitation, the state of the Underlying Market at the time of the error or any error in, or lack of clarity of, any information source or pronouncement upon which the Company bases its quoted prices. Any financial commitment that the Client has entered into or refrained from entering into in reliance on a Transaction with the Company will not be taken into account in deciding whether or not there has been a Manifest Error.
8.4. Except in cases of fraud, omission, wilful default or negligence by the Company, it shall not be liable to the Client for any loss, cost, claim, demand, or expense following a Manifest Error (including where the Manifest Error is made by any information source, commentator, or official on whom the Company reasonably relies).
8.5. If a Manifest Error has occurred and the Company chooses to exercise any of its rights under these terms, and if the Client has received any monies from it in connection with the Manifest Error, the Client agrees that those monies are due and payable to the Company and he or she agrees to return an equal sum to it without delay and without any demand notice being raised by the Company.
9. Leverage modification
9.1. The following kinds of pending Orders may be executed in the Trading Software:
9.1.1. Buy Limit: an Order to open a buy position if the Ask price becomes lower or equal to the Order price. In this case, the current price at the moment of placing the Order is higher than the Buy Limit Order price
9.1.2. Buy Stop: an Order to open a buy position if the Ask price becomes higher or equal to the Order price. In this case, the current price at the moment of placing the Order is lower than the Buy Stop Order price
9.1.3. Sell Limit: an Order to open a sell position if the Bid price becomes higher or equal to the Order price. In this case, the current price at the moment of placing the Order is lower than the Sell Limit Order price
9.1.4. Sell Stop: an Order to open a sell position if the Bid price becomes lower or equal to the Order price. In this case, the current price at the moment of placing the Order is higher than the Sell Stop Order price
9.1.5. Stop Loss: an Order to close an Open Position at a certain price in case the position generates losses, and
9.1.6. Take Profit: an Order to close an Open Position at a certain price in case the position generates profit.
10. Orders rules
10.1. Opening, modifying, or deleting Orders is allowed only during active trading hours (which depends on the Client Terminal chosen by the Client) outlined in the contract specification; it is not allowed beyond trading hours.
10.2. In the exceptional case of irregular market conditions, trading with specific trading Instruments may be prohibited (fully or partially, temporarily or permanently) until the conditions remain irregular or until further notice.
10.3. All the pending Orders are executed by the GTC Model (‘Good Till Cancelled’) and have no period of validity; that is, they remain active until cancelled by the Client. The Client, however, has the right to set the Order expiration date by him- or herself.
10.4. In case one or several Order parameters are invalid or missing, the Order may be declined by the Trading Platform.
10.5. The Company will specify the current market price at its sole discretion.
10.6. Orders of all types shall not be placed closer than a stated number of points from the current price. The minimum distance in points from the current price may be changed with prior notice. Pending Orders of all types, including take profit and stop loss, should not be placed closer than the stop level—a stated number of points away from the current price for each symbol. Stop level values may be changed with prior notice. The Client can see the current stop level value in the symbol's specification in the Client Terminal.
10.7. A note in the server log file about the Order opening means the Client has opened an Order and agrees with it. Each Order gets a unique identification number (a ticker).
10.8. In case an Order opening is requested before the first Quote appears in the Trading Platform, it will be rejected by the Trading Platform. In this case, the message ‘No price/Trading is forbidden’ will appear in the Client Terminal.
10.9. A note in the server log file about the Order closure or modification means the Client has modified or closed an Order and agrees with it.
10.10. In case an Order closure or modification is requested before the first quote appears in the Trading Platform, it will be rejected by the Trading Platform.
10.11. The Company provides the Client with the following options:
10.11.1. to partially close their Open Positions on the OctaTrader, MetaTrader 4, and MetaTrader 5 platforms, as the case may be. This option is realised differently on the aforementioned platforms
10.11.2. to perform singular or multiple Close By operations on their Open Positions on the Client Terminal.
10.12. The Company provides an option for the Client to perform the Close By operation on their Open Positions on the Client Terminal.
10.13. The Company offers the Client the option to perform the Multiple Close By operation on their positions on the Client Terminal.
11. Pending Orders execution
11.1. A pending Order is executed in the following cases:
11.1.1. Buy Limit Order: whenever the current Ask price becomes lower or equal to the Order price
11.1.2. Buy Stop Order: whenever the current Ask price becomes higher or equal to the Order price
11.1.3. Sell Limit Order: whenever the current Bid price becomes higher or equal to the Order price
11.1.4. Sell Stop Order: whenever the current Bid price becomes lower or equal to the Order price
11.1.5. take profit Order for a buy position: whenever the current Bid price becomes equal to or higher than the Order price
11.1.6. stop loss Order for a buy position: whenever the current Bid price becomes equal to or lower than the Order price
11.1.7. take profit Order for a sell position: whenever the current Ask price becomes equal to or lower than the Order price
11.1.8. stop loss Order for a sell position: whenever the current Ask price becomes equal to or higher than the Order price.
11.2. The following rules are applied to Order execution during Price Gaps:
11.2.1. In case the pending Order price and take profit level are within the Price Gap, the Order will be cancelled with a comment (‘cancelled’ or ‘gap’)
11.2.2. In case the take profit Order price is within the Price Gap, the Order will be executed by its price
11.2.3. In case the stop loss Order price is within the Price Gap, the Order will be executed by the first price after the Price Gap with a comment (‘SL’ or ‘gap’)
11.2.4. Buy Stop and Sell Stop pending Orders will be executed by the first price after the Price Gap with a comment (‘started’ or ‘gap’)
11.2.5. Buy Limit and Sell Limit pending Orders will be executed by the Order's price with a comment (‘started’ or ‘gap’).
11.3. In some instances, when small Price Gaps occur, the Orders may be executed as usual as stated in the previous paragraph.
11.4. In case a Client account simultaneously has the following characteristics:
11.4.1. The Margin level is 140% or less
11.4.2. 60% of the volume of total position is placed at the one trade tool and has one direction (sell or buy)
11.4.3. This part of the total position was formed within 24 hours before the market closure. The Company is entitled to set take profit for the Orders included in the total position at the Ask price level of market closing for the tool minus one point (for sell Orders) or at the Bid price level of market closing for the tool plus one point (for buy Orders).
12. Margin requirements
12.1. The Client shall provide and maintain the Initial Margin and/or Hedged Margin as defined under Clause 12.2.1 in such limits as the Company may require from time to time in compliance with the Agreement. It is the Client's sole responsibility to ensure that he or she understands how the Margin is calculated.
12.2. The Client shall pay the Initial Margin and/or Hedged Margin at the moment of opening a position.
12.2.1. The Hedged Margin amounts to the minimum of 50% of the Margin Requirement of equivalent hedged position. The size of the Hedged Margin depends on the volume of the position.
12.3. If no Force Majeure Event occurs, the Company is entitled to change Margin Requirements and send a Written Notice to the Client three (3) Business Days prior to these amendments.
12.4. The Company is entitled to change Margin Requirements without prior written notice in the case of a Force Majeure Event.
12.5. The Company is entitled to apply new Margin Requirements amended in accordance with above-mentioned paragraphs to the new positions and to the positions that are already open.
12.6. The Company is entitled to close the Client's Open Positions without the consent of the Client or any prior written notice if the Equity is less than a certain Rate depending on the account type stipulated on the Website.
12.7. It is the Client's responsibility to notify the Company as soon as the Client believes that he or she will be unable to meet a Margin payment when due.
12.8. The Company is not obliged to make Margin calls for the Client. The Company is not liable to the Client for any failure to contact or an attempt to contact the Client.
12.9. As long as the Margin remains in the Client account, the Client agrees that the Company has the right to transfer ownership of the Client's Margin from the Client to the Company, to be kept by the latter as security, and be returned by the Company to the Client on completion of the Client's trade(s).
12.10. Subject to any restrictions referred to in this Agreement regarding the operation of the Wallet, the Client has the right to withdraw to their Wallet any part of funds equal to the Free Margin that is available in the relevant Trading Account, provided there are funds available.
13. Deposit and withdrawal
13.1. The Client may deposit funds into the Trading Account at any time. All payments to the Company shall be made in accordance with the Payment Instructions available on the Website. Under no circumstances will third-party or anonymous payments be accepted.
13.1.1. Unless otherwise agreed in writing, settlement of Transactions shall be on a payment-on-delivery basis. The Client is responsible for ensuring that all payments and required documents are delivered to the Company in a timely manner to facilitate prompt settlement of Transactions. The Company shall not be obligated to settle any Transaction if the relevant documents and cleared funds are not in its possession.
13.1.2. In the event of the Client's default in making any payment due, interest shall accrue at the overdraft Rate of the relevant correspondent bank where the default occurs, unless agreed otherwise.
13.1.3. The Company may purchase investments to cover the Client's liability to deliver investments to it and may debit any of his or her accounts to cover any losses the Company suffers. In the event of any Dispute regarding any Transaction, the Company may, at its absolute discretion, cancel, terminate, reverse, or close out the whole or part of the position resulting from such Transaction.
13.1.4. The Company will deposit the Client Money in one or more Segregated Account(s) held with a licensed financial institution, separate from the Company's own fund. This ensures that Client Money is treated as belonging to the Client and shall not be used by the Company to meet any of its obligations. The Client Money will be pooled, and in the event of the Company's insolvency, any distribution of the pooled Client Money will occur in accordance with the Insolvency Act 2009 of Mauritius. The Company will exercise all due skill, care, and diligence in the selection, appointment, and periodic review of the financial institution where the Client Money is deposited.
13.1.5. It should be noted that Segregated Account(s) will be established, maintained, and operated according to the applicable rules and regulations. The Company will give instructions to the banking institution(s) regarding the transfer and movement(s) of the Client Money.
13.1.6. If the Client has an Open Position, the Company reserves the right, at any time and at the Company's sole discretion, to set off any unrealised losses incurred in respect of an Open Position against any of the Client Money that is held by the Company to the Client's credit. In effect, this means that the Company, based on the conditions referred to above, may transfer any part of any unrealised losses from a banking institution to an account of the Company. At the same time, the Company may transfer any unrealised profit incurred as a result of an Open Position from a Company account to a Client Money account held in a banking institution.
13.1.7. The Company shall not be responsible for the solvency, act(s), or omission(s) of any banking institution with which Client Money is held.
13.1.8. The Company is not obligated to pay interest to the Client for the funds deposited.
13.2. In case the nature of the deposit does not allow instant payment processing (for example, bank wire), the Client shall create a Deposit Request in the Profile. Failure to do so will lead to a deposit delay.
13.3. It is the Client's sole responsibility to create Deposit Requests in his or her Profile and to fill them in a correct and proper way. Failure to do so will lead to a deposit delay.
13.4. The Client may withdraw funds from the Trading Account at any time in accordance with the procedure described in paragraph 13.5.
13.5. If the Client requests to withdraw funds from the Trading Account, the Company shall pay the specified amount within three (3) Business Days after the request has been accepted if the following conditions are met:
13.5.1. the withdrawal request contains all the necessary information
13.5.2. the request is to perform a funds transfer to the Client's bank account or e-currency account (under no circumstances will payments to third-party or anonymous accounts be affected), and
13.5.3. the Client's Free Margin exceeds or equals the amount specified in the withdrawal request, including all payment charges.
13.6. The Company shall debit the Client's Trading Account for all payment charges (if applicable).
13.7. As per the Company's AML Policy, to prevent any ML and TF risks, the Company establishes that the Сlient shall use the same methods to withdraw funds as he or she did to deposit funds. If the Client deposits funds to his or her Trading Account via multiple payment methods, the Client shall withdraw funds using the same payment methods. In this case, the ratio of withdrawable amounts to one another shall be directly proportional to the ratio of deposited amounts.
13.8. In exceptional cases (such as Force Majeure Events, termination of payment system operation, and so on), the Company is entitled to decline the Client's funds withdrawal in any payment system. Such cases shall be considered on a case-by-case basis and shall be within the sole discretion of the Company.
13.9. To provide financial security for the Client, the Company reserves the right to withdraw the Client's funds only to his or her bank account.
13.10. For security and/or compliance reasons, the Company reserves the right to demand the Client's complete identification data. The Company also reserves the right to refuse to provide the Services to the Client who fails to pass the control check by phone and fails to answer basic questions concerning the Client's Profile.
13.10.1. Following the request of the Company, the Client shall send to the Company advanced selfies and/or regular selfies with the requested identification documents, such as passport, other types of ID, address proof, bank reference letter, and/or any other relevant documents not listed here.
13.10.2. Should such a request be made by the Company, the Client shall have fourteen (14) calendar days to collect and send advanced selfies and/or regular selfies with the requested documents to the Company.
13.10.3. If the Client does not send advanced selfies and/or regular selfies with the requested documents within the mentioned 14-day period, the Client's Profile will be irreversibly blocked, and the Client's personal funds, excluding profits, will be refunded.
13.10.3.1. To initiate the refund process, the Client must submit a formal refund request to the Company within sixty (60) calendar days after the Profile is blocked, using the same method of payment used for the initial Transaction.
13.10.3.2. In the event that the Company does not receive such a refund request within the specified time frame, the Company considers the unclaimed funds as forfeited by the Client and treats them as the Company's property.
13.10.3.3. The Company is not liable for any loss or damages incurred by the Client due to the forfeiture of unclaimed funds as specified in sub-clause 13.10.3.2 hereof.
13.10.3.4. The Company reserves the right to apply administrative fees or charges for processing refund requests as deemed necessary.
13.10.3.5. The Client acknowledges and agrees that this refund process and its subsequent clauses, as mentioned in sub-clauses from 13.10.3 to 13.10.3.4 hereof, constitute the sole and exclusive remedy for any unclaimed funds resulting from the non-submission of advanced selfies and/or regular selfies with the requested documents.
13.10.4. No profits shall be paid, and no losses shall be reimbursed for such accounts.
13.10.5. For the purposes of this clause, an ‘advanced selfie’ shall mean a selfie of a person made with a requested document and a sheet of paper with the current date and the word ‘Octa’ written on it.
13.11. Internal transfers (that is, transfers from one Trading Account to another within the Company) between third parties are prohibited.
13.12. If the Client has an obligation to pay any amount to the Company that exceeds the Trading Account Equity, the Client shall pay the amount of excess forthwith upon the obligation arising.
13.13. All incoming payments shall be credited to the Client's Trading Account no later than one (1) Business Day after the funds have been received by the Company.
13.14. The Client acknowledges and agrees that when a payment is due and sufficient funds have not yet been credited to the Client's Trading Account, the Company shall be entitled to treat the Client as having failed to make a payment and to exercise its rights in compliance with the Agreement.
13.15. The Client shall make any Margin payments or other due payments in U.S. dollars, euros, and other currencies accepted by the Company. The payment amount will be converted into the Trading Account Currency at the current market Rate.
13.16. The Company is entitled but not obligated to cover deposit and withdrawal fees applied by Skrill, Neteller, or any other payment processors. Such fees can be charged from the Client in cases which the Company deems appropriate.
14. Commissions, charges, and other costs
14.1. The Client shall pay the Company the commissions, charges, and other costs set out in the Agreement. The Company will display all current commissions, charges, and other costs on its Website.
14.2. The Company may modify commissions, charges, and other costs from time to time without prior notice. All changes in commissions, charges, and other costs are displayed on the Website.
14.3. The Client undertakes to pay all possible stamp expenses relating to this Agreement and any documentation which may be required.
14.4. The Client shall be solely responsible for all filings, tax returns, and reports on any Transactions which should be made to any relevant authority, governmental or otherwise, and for the payment of all taxes (including but not limited to any transfer or value-added taxes) arising in connection with any Transaction.
14.5. The Company is not liable to disclose any reports regarding profits, commissions, and other fees received by the Company from the Client's trading unless stated otherwise by the Agreement.
14.6. By opening an account, the Client unconditionally accepts all fees applicable to his or her account as per trading conditions described on the Website.
15. Communication
15.1. In order to communicate with the Client, the Company may use:
15.1.1. Client Terminal internal mail
15.1.2. email
15.1.3. telephone
15.1.4. the Company's live chat
15.1.5. SMS
15.1.6. mobile push notifications
15.1.7. web push notifications
15.1.8. instant messenger services (Viber, Telegram, Facebook Messenger, and others).
15.2. The Company will use contact details provided by the Client whilst opening the Trading Account, and the Client agrees to accept any notices or messages from the Company at any time.
15.3. Any piece of information sent to the Client (documents, notices, confirmations, statements, and so on) shall be deemed received:
15.3.1. within one hour after an email has been sent if the information has been sent by email
15.3.2. immediately after sending if sent by the Trading Platform internal mail
15.3.3. once the telephone conversation has been finished if contacted by phone
15.3.4. within one hour after it has been posted on the Company News Page if posted on the Website.
15.4. On the first day of each month, the Company will send the Client a statement that includes all Transactions of the previous month. The Statement shall be sent by email.
15.5. Any telephone conversation between the Client and the Company may be recorded. All Instructions and Requests received by telephone will be binding as if received in writing. Any recordings shall be and remain the sole property of the Company and will be accepted by the Client as conclusive evidence of the Instructions, Requests, or other arising obligations. The Client agrees that the Company may deliver copies of transcripts of such recordings to any court, regulatory, or government authority.
15.6. The Company is responsible for any Client's Personal Data kept by it according to the processing of Personal Data (Data Protection Act 2017).
15.7. The Company shall not disclose to a third party any of the Client's confidential information unless required to do so by a regulatory authority of a competent jurisdiction; such disclosure shall occur on a need-to-know basis, unless otherwise instructed by, inter alia, any governmental body, subject to the provisions of applicable legislation. Under such circumstances, the Company shall expressly inform the third party regarding the confidential nature of the information.
15.8. The Client acknowledges that the Company may collect, store, and process Personal Data provided by the Client in connection with the Services provision.
15.9. If the Client is an individual, the Company will, upon request, provide the Client with a copy of the Personal Data it holds about the Client (if any). However, a fee may apply for this service.
15.10. By entering this Agreement, the Client expressly consents to the Company sharing the Client's Personal Data with relevant third parties necessary for the effective implementation of the Services or operational functions (for example, refunding the Client's funds).
16. Dispute resolution
16.1. The Agreement and the relationship between the parties shall be governed by and interpreted in accordance with the laws of Mauritius.
16.2. In case any conflict situation arises when the Client reasonably believes that the Company, as a result of any action or failure to act, breaches one or more terms of the Agreement, the Client has the right to file a complaint.
16.3. To file any complaint, the Client should email it to [email protected].
16.4. A complaint must contain:
16.4.1. the first and last name of the Client (or the company name, if the Client is a legal entity)
16.4.2. the Client's login details in the Trading Platform (that is, the Trading Account number).
16.4.3. details of when the conflict first arose (date and time in the Trading Platform time)
16.4.4. ticker of the order in question
16.4.5. description of the conflict situation supported by the reference to the Agreement.
16.5. The complaint must not contain:
16.5.1. affective appraisal of the conflict situation
16.5.2. offensive language
16.5.3. uncontrolled vocabulary.
16.6. The Company has the right to reject a complaint in cases when:
16.6.1. any of the above-mentioned provisions are breached
16.6.2. more than thirty (30) calendar days have passed since the conflict situation.
16.7. The Claim resolution term is set as ten (10) working days since the claim has been submitted. In occasional cases, the term may be increased.
16.8. Any Dispute, controversy, difference, or claim arising out of or relating to the present contract shall be referred to and finally resolved by arbitration administered by the Mediation and Arbitration Center of Mauritius (MARC) under the MARC Arbitration Rules in force when the Request for Arbitration is submitted.
16.9. The seat of arbitration shall be Mauritius.
16.10. The Client agrees that all Transactions carried out on the Trading Platform are governed by the laws of the Republic of Mauritius regardless of the Client's location.
16.11. All Transactions on behalf of the Client shall be subject to the applicable regulations and any other public authorities that govern the operation of the investment dealers regulated by the Financial Services Commission, as they are amended or modified from time to time. The Company is entitled to take or omit to take any measures which it considers necessary to ensure compliance with the Applicable Regulations and the relevant market rules. Any such measures that may be taken will be binding on the Client.
16.12. The Company's liability, to the extent applicable, for infringement of third-party intellectual property rights is limited to breaches of rights subsisting in the Republic of Mauritius.
17. Server Log File
17.1. The Server Log File is the most reliable source of information in case of any Dispute. The Server Log File has absolute priority over other arguments including the Client Terminal Log File as the Client Terminal Log File does not register every stage of the execution of the Client's Instructions and Requests.
17.2. If the Server Log File has not recorded the relevant information to which the Client refers, the argument based on this reference may not be considered.
18. Indemnification
18.1. The Company may resolve all Disputes by only:
18.1.1. crediting/debiting the Client's Trading Account
18.1.2. reopening erroneously closed positions, and/or
18.1.3. deleting erroneously opened positions or placed Orders.
18.2. The Company reserves the right to choose the method of Dispute resolution at its sole discretion.
18.3. Disputes not mentioned in the Agreement will be resolved in accordance with the common market practice and at the sole discretion of the Company.
18.4. The Company shall not be liable to the Client if, for any reason, the Client has received less profit than he or she had hoped for or has incurred a loss as a result of an uncompleted action which the Client had intended to complete. Thus, the Company will under no circumstances compensate for any ‘lost profit’.
18.5. The Company shall not be liable to the Client for any indirect, consequential, or non-financial damage (such as emotional distress).
19. Rejection of complaint
19.1. In case the Client had been notified in advance by the Trading Platform internal mail or some other way of routine maintenance on the Server, complaints made in regard to any unexecuted Instructions or Requests which are given during such a maintenance period are not accepted. The fact that the Client has not received a notice shall not be a reason to file a complaint.
19.2. Complaints regarding Order execution time are not accepted.
19.3. No Client complaints will be accepted in regard to the financial results of the Orders opened or closed using temporary excess Free Margin on the Trading Account gained as a result of a profitable position (cancelled by the Company afterwards) or opened at an off-market Quote (spike) or by any other reason.
19.4. In regard to all Disputes, any references by the Client to the Quotes of other companies or information systems can not be taken into account.
19.5. The Client acknowledges that he or she will not be able to manage the position while the Dispute in regard to this position is being considered and no complaints regarding this matter will be accepted.
20. Force Majeure Events
20.1. Where a Force Majeure Event exists, the Company shall give notice to the Client as soon as reasonably practicable after it has occurred (but in any event no later than five (5) Business Days after it has occurred) of the circumstance, event, or combination of circumstances or events constituting the Force Majeure Event, and, as soon as reasonably practicable, give further notice containing information adequate to justify the claim and advise the steps and time necessary to overcome such Force Majeure Event.
20.2. In case a Force Majeure Event exists (without prejudice to any other rights under the Agreement), the Company may, without prior written notice and at any time, take any of the following steps:
20.2.1. increase Margin requirements
20.2.2. close down any or all Open Positions at the prices which the Company shall in good faith consider to be appropriate
20.2.3. suspend, freeze, or modify the application of any or all terms of the Agreement to the extent that the Force Majeure Event makes it impossible or impractical for the Company to comply with them, or
20.2.4. take or omit to take all such other actions as the Company deems to be reasonably appropriate in the circumstances regarding the position of the Company, the Client, and other Clients.
20.3. If any delay or failure of performance caused by a Force Majeure Event continues for a continuous period of ninety (90) days, the Company may terminate this Customer Agreement at the end of this period without further obligation by it.
21. Safety
21.1. The Client will not proceed and will avoid proceeding in any action that could allow the irregular or unauthorised access or use of the Trading Platform. The Client accepts and understands that the Company reserves the right at its sole discretion to terminate or limit his or her access to the Trading Platform if it suspects that he or she allowed such use.
21.2. When using the Trading Platform, the Client will not, whether by act or omission, do anything that will or may violate the integrity of the Trading Platform or cause it to malfunction.
21.3. The Client is permitted to store, display, analyse, modify, reformat, and print the information made available through the Trading Platform. The Client is not permitted to publish, transmit, or otherwise reproduce that information, in whole or in part, in any format to any third party without the Company's consent. The Client may not alter, obscure, or remove any copyright, trademark, or any other notices provided on the Trading Platform.
21.4. The Client agrees to keep any Access Data secret and not to disclose it to any third party.
21.5. The Client agrees to notify the Company immediately if he or she knows or suspects that their Access Data have or may have been disclosed to any unauthorised person.
21.6. The Client agrees to cooperate with any investigation the Company may conduct considering any misuse or suspected misuse of their Access Data.
21.7. The Client accepts that he or she will be liable for all Orders given through and being logged in under his or her Access Data, and any such Orders received by the Company shall be considered as received from the Client.
21.8. The Client acknowledges that the Company bears no responsibility for any unauthorised third persons obtaining access to information, including logins, passwords, electronic currency accounts access, emails, electronic addresses, electronic communication, and Personal Data when the above-mentioned information is transmitted using the internet or other network communication facilities, post, telephone, during the oral or written conversation, or using any other means of communication.
21.9. The Client unconditionally guarantees that the source of the funds used for trading with the Company is legal, and the funds were not received as a result of any illegal activity, fraud, money laundering, or from other illegal sources. Failure to comply with this rule will lead to account termination and a report to the authorities in all cases without exceptions. Under no circumstances the Company or its partners and/or subsidiaries will bear any responsibility for any claims or complaints if such a case arises.
22. Risk warning
22.1. Trading in Derivatives and Contracts for Difference (CFDs) on Currency Pairs, Precious Metals, Commodities, or other financial Instruments and products involves a high level of risk and may not be suitable for everyone.
22.2. The Client is hereby further advised not to invest any amount of money that he or she cannot afford to lose and which exceeds his or her risk tolerance. The Company shall not be responsible for any losses, liabilities, costs, charges or other expenses hereby incurred in connection to trading performed by the Client.
22.3. The Client hereby understands that there is considerable exposure to risk in any off-exchange Transaction, including, but not limited to, Leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of the markets that the Client is trading. The Client is hereby advised to carefully consider his or her investment objectives, level of experience, and risk appetite prior to making any decision to trade with the Company.
23. Miscellaneous
23.1. The Company reserves the right to suspend the Client's Trading Account at any time for any valid reason with or without a written notice to the Client.
23.2. Without prejudice to Clause 3.37 above, if the Balance of the Client's Trading Account equals zero, the Company reserves the right to delete such Trading Account within sixty (60) days after the last trading or monetary operation had been performed in this account with or without a Written Notice to the Client.
23.3. If a situation not covered by the Agreement arises, the Company will resolve the matter on the basis of good faith and fairness and, where appropriate, by taking such action as is consistent with market practice.
23.4. In case any term of the Agreement (or any part of it) shall be held by a court of competent jurisdiction to be unenforceable for any reason, then such term shall to that extent be deemed severable and not form part of this Agreement. However, the enforceability of the remainder of the Agreement shall not be affected.
23.5. The Client may not assign, charge, or otherwise transfer or purport to assign the Client's rights or obligations under the Agreement without the prior written consent of the Company, and any purported assignment, charge, or transfer in violation of this term shall be voided.
23.6. The Client is entitled to make a request to change the IB he or she was assigned to, subscribe to an IB, and unsubscribe from an IB via the Company's Customer Support or by sending the corresponding written request to [email protected]. However, the decision on approving this request shall be at the Company's sole discretion.
23.7. The Company is entitled to unsubscribe a Client from an IB at its sole discretion at any moment without any notice.
23.8. Where the Client comprises two or more persons, the liabilities and obligations under any agreement with the Company shall be joint and several. Any warning or other notice given to one of the persons who comprise the Client shall be deemed to have been given to all the persons who comprise the Client. Any Order given by one of the persons who comprise the Client shall be deemed to have been given by all the persons who comprise the Client.
23.9. The Client accepts and understands that the Company's official language is English, and the Client should always read and refer to the English version of the Website and this Customer Agreement for all information and disclosures about the Company and its activities. All translations or any information provided in languages other than English on the Company's local websites is for informational purposes only and does not bind the Company or have any legal effect whatsoever. The Company shall not bear any responsibility or liability regarding the correctness of the information therein.
23.10. The Client confirms that he or she has thoroughly read and agreed to be bound by the Company's Risk Disclosure, Return Policy, AML Policy, and any other documents that the Company may publish.