Please Note: The Company is not accountable for any loss that derives from submission of a request that contains the wrong Crypto wallet address. It is at the sole responsibility of the Client to transfer to the Company accurate Crypto wallet address.
For the avoidance of a doubt, the Client, and not the Company, will bear all the expenses incurred during the withdrawal process, including all exchange fees and charges.
If you have any further inquiries, contact our support team via email at [email protected]
Anti-Money Laundering Policy
Both the Company and Client are subject to Anti Money Laundering laws and regulation, applicable worldwide and locally.
The Client must be aware and declare that:
The use of the Company’s website and services shall be made only with accordance to the applicable law and not for any criminal activity.
All money transaction from or to the Client shall be consistent with AML laws and regulations, and the funds that the Client transfers to the Company do not derive from any criminal or other illegal activity.
The Client obligates to provide true and updated information about himself, to enable the Company to identify the identity of the Client when receiving and transferring funds from and to the Client.
Repayment of any funds by the Company to the Client will be in the same currency and to the same account/credit card from which the funds were originally transferred, unless the Company has decided, by its own discretion, to return the funds to a different account of the Client.
www.uptrendcenter.com does not tolerate money laundering and supports the fight against money launderers. Billing and clearing are governed by the St. Vincent and the Grenadines laws.
The Company has policies in place to deter people from laundering money. These policies include:
ensuring clients have valid proof of identification
maintaining records of identification information
determining that clients are not known or suspected terrorists by checking their names against lists of known or suspected terrorists
informing clients that the information they provide may be used to verify their identity
closely following clients’ money transactions
Not accepting cash, money orders, third party transactions, exchange houses transfers or Western Union transfers.
Money laundering occurs when funds from an illegal/criminal activity are moved through the financial system in such a way as to make it appear that the funds have come from legitimate sources.
Money Laundering usually follows three stages:
firstly, cash or cash equivalents are placed into the financial system
secondly, money is transferred or moved to other accounts (e.g. futures accounts) through a series of financial transactions designed to obscure the origin of the money (e.g. executing trades with little or no financial risk or transferring account balances to other accounts)
And finally, the funds are re-introduced into the economy so that the funds appear to have come from legitimate sources (e.g. closing a futures account and transferring the funds to a bank account).
Trading accounts are one vehicle that can be used to launder illicit funds or to hide the true owner of the funds. In particular, a trading account can be used to execute financial transactions that help obscure the origins of the funds.
www.uptrendcenter.com directs funds withdrawals back to the original source of remittance, as a preventative measure.
International Anti-Money Laundering requires financial services institutions to be aware of potential money laundering abuses that could occur in a customer account and implement a compliance program to deter, detect and report potential suspicious activity.
THE FOLLOWING DOCUMENTS ARE REQUIRED IN ORDER TO VERIFY YOUR ACCOUNT.
GOVERNMENT ISSUED IDENTIFICATION
Color copy of a valid Government issued Photo ID
Examples of accepted Photo ID: Driver’s License/ National Identity Card/ Passport.
Expiration date must be valid. The entire document must be present in the copy uploaded including full name, ID number, photo and expiration date.
PROOF OF ADDRESS
Color Copy of a valid Utility Bill as proof of your current address. This can be a payment request/receipt, sent to your legal address, such as Water/ Electric/ Gas/ Internet/ Land Line Phone bill, or a recently issued bank statement. In order for it to be approved, the utility bill/bank statement must be issued within the last 6 months of submission. The entire document must be present in the copy uploaded including your full name, address, issuance date and utility company logo.
Depending on the deposit method, the company reserves the right to request additional documentations to ensure the proper client verification.
We accept the following formats: jpg, jpeg, png, gif, pdf, and doc. You can submit the documents via our website (requires you to log in), or by email to our compliance department at [email protected]. We do not accept compressed formats or links. Please ensure the documents are clear and legible.
Upon submission, you will receive an email stating whether the account has been verified or not. Please note, additional documents may apply to conduct further billing procedures, please contact Customer Support for details.
For questions/comments regarding these guidelines, please contact us at [email protected].
Risk Disclosure Statement
The purpose of the Risk Disclosure Statement (the “Statement”) is to provide you (the “Client”) appropriate information and disclosure on the nature and risks of the specific types of financial instruments offered by Uptrend Center (hereafter the “Company”).
You should carefully read this Statement, and before trading in financial instruments with the Company make sure you fully understand and are able to bear the risks involved. It should be noted that this Statement does not purport to disclose or discuss all of the risks and other significant aspects of all transactions entered into with or through the Company. We outline the general nature of the risks of dealing in financial instruments on a fair and non-misleading basis. Therefore, you need to ensure that your decision is made on an informed basis and as a minimum you should be taking into consideration all the following disclosed below.
You should ensure that you understand the risks involved and take into account your level of experience, and if necessary, seek independent advice. The Client is responsible for all the losses suffered in his account.
By registering and trading with the Company, you acknowledge having read and fully understood the risks involved in trading in Contracts for Difference (“CFDs“), and that you are willing and able to bear all such risks.
Risks Involved in Trading in CFDs
Trading is very speculative and risky. Trading in CFDs is highly speculative. CFDs are subject to many influences which may result in rapid fluctuations and reflect unforeseen events or changes in conditions with the inevitable consequence being market volatility. We cannot, and do not, guarantee the investment performance of CFDs, and past performance is no indication or guarantee of future performance.
Highly Leveraged instruments. Trading in CFDs allows you to trade the markets on a margined basis, as opposed to paying upfront the entire contract value, hence allowing you to get larger market exposure for your investment. While this can work in your favor, it can also work against you and increase your losses. We offer various leverage levels for different asset classes Due to their leverage, CFDs may result in the loss of all of your invested capital. However, it should be noted that the Company operates on a ‘negative balance protection’ basis; this means that you cannot lose more than your initial investment.
Margin risk. The Client needs to make sure that he has sufficient margin in his trading account, at all times, in order to maintain an open position. In addition, the Client needs to continuously monitor any open positions in order to avoid positions being closed due to the unavailability of funds; it should be noted that the Company is not responsible for notifying you for any such instances but may do so.
Market conditions. Financial markets may fluctuate rapidly to reflect events that are outside the control of the Company and/or your control; as a result, prices will become volatile. One form of price volatility is ‘gapping’, which occurs when there is a sudden shift in prices from one level to another. This can be caused, for example by unexpected economic events or market announcements, within or outside trading hours. Consequently, the Company may be unable to execute your instructions at the requested price. This may also occur when there is insufficient underlying liquidity in the market.
Conflicts of Interests. The Company is the counterparty to all transactions the Client enters into and, as such, the Company’s interests may be in conflict with the Client’s.
Prices are set by the Company. The Company determines the prices of all instruments offered on its website. Accordingly, the prices may be different from prices reported or quoted elsewhere. The Company will provide the prices to be used in trading and valuation of the Client’s positions in accordance with its trading policies and procedures. As such, the prices may not directly correspond to real time market levels at any specific point in time. CFDs must be opened and closed with us, and you will not be able to settle a transaction with any other entity.
Rights to underlying assets. Entering or holding a CFD does NOT provide the Client with any rights in respect of the underlying instruments or assets, including any title or ownership right, right to receive dividends or paid interest, etc.
One-click order. Once the Client places an order, it is immediately received by the Company for execution. The Client cannot reverse or cancel such order after making it (but can always close the transaction at the relevant price).
Execution risk. A delay in execution may occur for various reasons, such as technical issues with your internet connection to the servers of the platform or the trading servers. In such circumstances, the price offered by us may change before we receive your order. If you place an order and the price changes before the order is received, the order will be accepted at the new price.
Platform risk. There are risks in trading through the Company’s online platform. These include but are not limited to:
Software errors and bugs, delays in telecommunications systems, interrupted service, data supply errors, faults or inaccuracies and security breaches;
Data of users of the platform may be visible to others, institutions or brokers may be able to see your orders and other communications relating to trading and execution without your consent (or ours) and that third parties (including persons on private networks) will have the ability to attach to your network;
System failures: If the platform is suspended for any reason whatsoever, you may have difficulties in executing orders or using any other services provided through the platform. In such cases other communication forms may be available for such services, but we cannot guarantee such failures shall not occur, and shall not be liable if they do; and
We may limit the total volume of trades you may have outstanding at a given time, which could prevent or delay execution of your orders, at your risk.
Counterparty risk. As we are the counterparty to every transaction, the Client will have an exposure to us in relation to each transaction. The settlement of a transaction will be reliant on our ability to meet our counterparty obligations to you to settle the relevant contract. If we default on our obligations, you may become an unsecured creditor in an administration or liquidation and will not have recourse to any underlying assets in the event of our insolvency.
The Company is not an adviser or a fiduciary to customer. Where the Company provides any information regarding the financial markets and the CFDs, which may include generic market recommendations, analyses, reports, market update and the likes of those, whether provided directly to the Client or to the public in general (together, the “Market Information“), such information does not constitute any personal recommendation or investment advice and do not consider any of the Client’s personal circumstances or investment objectives, nor is it an offer to trade, or the solicitation of an offer to trade, in any CFD. Each decision taken by the Client to trade in CFDs with the Company and each decision as to whether a transaction is appropriate or proper for the Client is an independent decision made by the Client. The Company is not acting as an advisor or serving as a fiduciary to the Client. The Client agrees that the Company has no fiduciary duty to the Client and is not responsible for any liabilities, claims, damages, costs and expenses, including attorneys’ fees, incurred in connection with the Client following information provided by the Company, and the Client should not be taking or avoiding any action based upon any such information.
Market Information not guaranteed. Any Market Information provided by the Company, is based solely on the judgment of its personnel and should be considered as such. The Client acknowledges that it enters into any transactions relying on his/her own judgment. Any Market Information provided may or may not be consistent with the market positions or intentions of the Company and/or its affiliates. The Market Information is based upon information believed to be reliable, but the Company cannot and does not guarantee the accuracy or completeness thereof or represent that following it will reduce or eliminate the risk inherent in trading CFDs.
No guarantees of profit. There are no guarantees of profit nor of avoiding losses when trading in CFDs. The Client has received no such guarantees from the Company or from any of its representatives. The Client is aware of the risks inherent in trading CFDs and is financially able to bear such risks and withstand any losses incurred.
Costs, Swap Value and Other Considerations. Prior to investing in CFDs the Client needs to be aware of any costs involved, such as spread(s) and swap(s). For the purposes of this Statement, a swap means the interest added or deducted for holding a position open overnight. The swap for a position held open overnight from Wednesday to Thursday is three times that of other days; the reason for this is that the value date of a trade held open overnight on a Wednesday would normally be Saturday, but since banks are closed, the value date is Monday and the client incurs an extra 2 (two) days of interest. From Friday to Monday swap is charged once.
Bonus Application Policy
The below terms and conditions (“Bonus Terms and Conditions”) shall apply to all Bonuses, Trade Refunds, any type of special offer or promotion (“Bonus” or “Bonuses”) that may be granted by Uptrend Center (the “Company”) to a client. This Bonus Application is subject to the Company’s general “Terms and Conditions” (the “T&C”) appearing on the Company Website: www.uptrendcenter.com By signing below, you (the “Client”) hereby irrevocably accept and agree to the Bonus Terms and Conditions.
In order for any and all Bonuses and/or offers to become applicable and accepted by the Company, the Client must comply with the specific Bonus Terms and Conditions (For example: a Client may be required to make a minimum deposit).
All bonuses are subject to trading requirements, which require your total trades to be of a particular value, in order to be able to withdraw bonus funds and any profit associated with them.
Unless stated otherwise, in writing on the Company’s Site, it shall be a standard term of any and all Bonuses that in order to make a withdrawal of the Bonuses received by the Client, and the profits generated from these Bonuses, the client will be required to have a total volume, since receiving the Bonus, of at least 20,000 the amount of the bonus (“Total Contract Threshold”).
For the avoidance of any doubt, the above-mentioned calculation method shall comply with the following example:
Bonus * 20,000 = Total contract Threshold, which shall allow the Client to perform the withdrawal of the Bonus amount.
Each bonus requires you to reach a trading volume of 20,000 in order for it to be withdrawable. For example: (Bonus 1 + Bonus 2) * 20,000 = Total contract Threshold.
Before the Total Contract Threshold is reached, the Client will not be able to withdraw from the Trading Account the Bonus amount and the profit amount generated by the Bonus in the account. For example:
Example A: the Client deposited to the account Bitcoin in the value of $1,000 and made a profit of additional $1,000. Then, the Client received a Bonus in the amount of $2,000 and made a profit of $3,000.
The Client will be able to withdraw $2,000 ($1,000 deposit+$1,000 profit prior to Bonus) before reaching the Total contract Threshold.
The Client will be able to withdraw the remaining $5,000 ($2,000 Bonus+$3,000 profit generated from Bonus) only after reaching the Total contract Threshold.
Example B: the Client deposited to the account Bitcoin in the value of $1,000, made a profit of additional $1,000 and lost $2,000. Then, the Client received a Bonus in the amount of $2,000 and made a profit of $3,000.
The Client will only be able to withdraw $5,000 ($2,000 Bonus+$3,000 profit generated from Bonus) after reaching the Total contract Threshold.
Withdrawals shall be made in accordance with the T&C and the Company’s Withdrawal Policy.
In the case that you have no deposit funds in your trading account, you solely hold bonus funds in your trading account, and you fail to execute a trade with the bonus funds for a period of 90 days, the bonus funds in your account shall be forfeited to the Company without prior notice and without the option to request a refund
A Bonus Abuse is when it appears that there is a participation of conspired strategies, adverse exploitation of errors or adverse exploitation of failures in our software/system, or any action, which in our sole and complete discretion, is perceived as abusive (“Bonus Abuse”).
Bonus Abuse includes but is not limited to:
the user controls or maintains more than one active account at the Site in order to claim the free bonus offers.
trading activity patterns that suggest fraud, manipulation, cash arbitrage or attempts to garner risk free profits by making use of any bonus; and/or fraud.
If the Company suspects that the Client has abused or attempted to abuse the Bonus Terms and Conditions contained herein, or otherwise acted in bad faith towards the Company, then the Company reserves the right, at its sole discretion, to deny, withhold or withdraw from that Client the Bonus and, if necessary, block and/or terminate the Client’s access to the Trading Account.
In such cases, the Company will not be liable for any other consequences that result from the Bonus cancellation and/or removal. If the Client has Open Positions and in the event that any losses incurred as a result of such cancelation of the Bonus, the Company will not be held liable
The decision of whether the Client is abusing and/or manipulating the Company’s trading platform and/or its Bonus is at the Company’s sole and exclusive discretion
The Company reserves the right to amend, vary, extend or discontinue the provision of any Bonus at any stage, for any reason according to its sole discretion. The Company will inform the Client of such changes within 7 business days. Following such notice, the Client will have the opportunity to forfeit their Bonus due to these changes
Furthermore, the Company takes no responsibility for any inability to enter, complete, continue or conclude the Bonus due to equipment or technical malfunction, busy lines, inadvertent disconnection, Acts of God or otherwise of this sort
Under no circumstance, shall the Company be liable to Client or any third parties whatsoever under any contract, strict liability, negligence or other legal or equitable theory, for any direct, indirect, incidental or consequential damages of the Client associated with the provision of the said Bonus
Acknowledgments and Risk Warnings
The Client understands that the Bonus gives him or her increased value and extra trading leverage. Therefore, caution must be exercised at all times when using the Bonus. By using the Bonus, higher trades may be closed; thus, more money can be made; however, the Client may also lose more than expected
The Client hereby acknowledges that Forex and Contract for Differences (“CFDs “) are leveraged products that involve a high-risk level. It should be noted that when trading in the aforementioned products, it is possible for Clients to lose all their invested capital. These products may not be suitable for everyone, and Clients should ensure that they understand the risks involved. Electing to utilize the Bonus may increase the risk of losing all assets. Clients should seek independent advice, if necessary
We are dedicated to providing users with the highest level of transparency and control over the use of their data. In order for us to provide you with our services, we are required to collect and process certain personal information about you and your activity.
By entrusting us with your information, we would like to assure you of our commitment to keep such information private. We have taken measurable steps to protect the confidentiality, security and integrity of this Information. We encourage you to review the following information carefully.
Grounds for data collection
Processing of your “Personal Data” (meaning any information which may potentially allow your identification with reasonable means) is necessary for the performance of our contractual obligations towards you and providing you with our services and the operation of our website (hereinafter the “Services” and “Website”), to protect our legitimate interests and for compliance with legal and regulatory obligations to which we are subject.
How do we receive data about you?
We receive your Personal Data from various sources:
Registration data – When you voluntarily provide us your personal details in order to create an account or register to our Services (for example, your name and email address);
When you communicate with us – For example when you send us an email, we collect the Personal Data you provided us with.
Third party data – We may receive your data from third party providers who help us with the provision and maintenance of our Services, such as social networks (for example your name and user name, when you register or log-in to our Service), traffic analytics vendors, fraud prevention agencies and others.
What type of data we collect?
In the course of using the Service, we may ask you to provide us with certain Personal Data to provide and improve the Service, to contact or identify you, to enable you to access certain parts of the Website, and as otherwise indicated in this Policy. We collect the following Personal Data about you:
Registration data – your name, address, your email address, your age range and payment details.
When using our Services – our webserver will collect your IP-address and UID.
We also collect data about the use of our Service and the characteristics and activities of users, in order to operate it and improve it. We may collect the following non-Personal Data:
Technical data – this category includes data such as website visits, the browser you are using and its display settings, your operating system, device type, session start/stop time, time zone, network connection type (e.g., Wi-Fi, cellular), cookie data and your general location (city and country).
Data from third parties – this category includes data we receive from our business partners. This may include pseudonymous advertiser identifiers that some Advertisers or other third party ad platforms choose to share with us. This data is also used to enhance data points about a particular unique browser or device.
If we combine Personal Data with non-Personal Data, the combined data will be treated as Personal Data. Further Personal Data will only be stored and processed if you voluntarily provide it to us, e.g. through a contact form.
When you visit or access our Services we use (and authorize 3rd parties to use) pixels, cookies, events and other technologies. Those allow us to automatically collect data about you, your device and your online behavior, in order to enhance your navigation in our Services, improve our Website’s performance, perform analytics and customize your experience on it. In addition, we may merge data we have with data collected through these tracking technologies with data we may obtain from other sources and, as a result, such data may become Personal Data.
Managing your cookie settings and opting out of 3rd party cookies
There are various ways in which you can manage and control your cookie settings. Please remember that, by deleting or blocking cookies, some of the features of the Services may not work properly or as effectively.
Turning off cookies via your web browser
Most web browsers will provide you with some general data about cookies, enable you to see what cookies are stored on your device, allow you to delete them all or on an individual basis, and enable you to block or allow cookies for all websites or individually selected websites. You can also normally turn off third party cookies separately. Please note that the settings offered by a browser or device often only apply to that particular browser or device.
Data about cookies is usually found in the “Help” section of the web browser. Below are some links to some commonly used web browsers:
Provision of service – for the provision and improvement of our Services, including for support and to respond to your queries.
Service announcements – we will use your Personal Data to communicate with you and to keep you informed of our latest updates to our Services and offer you service offers.
Marketing and advertising purposes – We may use your Personal Data in the following ways: we may send you promotional material concerning our Services, or our partners’ services, which we believe might interest you; we may also display certain adverts on our site, which we believe will be relevant for you. Furthermore, by subscribing to our newsletter you will receive tips and announcements straight to your email account. We make our best efforts to make sure you see only relevant ads and receive relevant communications from us, including but not limited to, by building an automated profile based on your Personal Data. You may however choose not to receive our promotional or marketing emails (all or any part thereof) by clicking on the “unsubscribe” link in the emails that you receive from us. Please note that even if you unsubscribe from our newsletter, we may continue to send you service-related updates and notifications, or reply to your queries and feedback you provide us. You may also object to the use of your Personal Data for advertising purposes by disabling your cookies, as described in the tracking technologies section above.
Opt-out of receiving marketing materials – If you do not want us to use or share your Personal Data for marketing purposes, you may opt-out in accordance with this “Opt-out” section. Please note that even if you opt-out, we may still use and share your Personal Data with third parties for non-marketing purposes (for example to fulfill your requests, communicate with you and respond to your inquiries, etc.). In such cases, the companies with whom we share your Personal Data are authorized to use your Personal Data only as necessary to provide these non-marketing services.
Analytics, surveys and research – from time to time, we may conduct surveys or test features, and analyze the data we have to develop, evaluate and improve these features, all in order to improve our Services and think of new and exciting features for our users.
Protecting our interests – we may use your Personal Data when we believe it’s necessary in order to take precautions against liabilities, investigate and defend ourselves against any third party claims or allegations, investigate and protect ourselves from fraud, protect the security or integrity of our services and protect the rights and property of the Company, its users and/or partners.
Enforcing of policies – we may use your Personal Data in order to enforce our policies, including but limited to our Terms and Conditions.
Compliance with legal and regulatory requirements – we may use your Personal Data to investigate violations, and as required by law, regulation or other governmental authority, or to comply with a subpoena or similar legal process.
With whom do we share your Personal Data?
Internal concerned parties – we share your data with companies in our group, as well as our employees, in order to provide you with our services.
Compliance with laws and law enforcement entities – we cooperate with government and law enforcement officials and private parties to enforce and comply with the law. We will disclose any data about you to government or law enforcement officials or private parties as we, in our sole discretion, believe necessary or appropriate to respond to claims and legal process (including but not limited to subpoenas), to protect our or a third party’s property and rights, to protect the safety of the public or any person, or to prevent or stop any activity we may consider to be, or to pose a risk of being, illegal, unethical, inappropriate or legally actionable. We also may be required to disclose an individual’s Personal Data in response to a lawful request by public authorities, including meeting national security or law enforcement requirements.
Transfer of data outside the EEA
Please note that some data recipients may be located outside the EEA. In such cases we will transfer your data only to such countries as approved by the European Commission as providing adequate level of data protection, or enter into legal agreements ensuring an adequate level of data protection.
How we protect your data
We have implemented administrative, technical, and physical safeguards to help prevent unauthorized access, use, or disclosure of your Personal Data. Your data is stored on secure servers and isn’t publicly available. We limit access of your data only to those employees or partners on a “need to know” basis, in order to enable the carrying out of the agreement between us.
While we seek to protect your data to ensure that it is kept confidential, we cannot absolutely guarantee its security. You need to help us prevent unauthorized access to your account by protecting your password appropriately and limiting access to your account. You will be solely responsible for keeping your password confidential and for all use of your password and your account, including any unauthorized use. You should also be aware that there is always some risk involved in transmitting data over the internet. While we strive to protect your Personal Data, we cannot ensure or warrant the security and privacy of your Personal Data or other content you transmit using the service, and you do so at your own risk.
We will retain your Personal Data for as long as necessary to provide our services, and as necessary to comply with our legal obligations, resolve disputes, and enforce our policies. Retention periods will be determined taking into account the type of data that is collected and the purpose for which it is collected, bearing in mind the requirements applicable to the situation and the need to destroy outdated, unused data at the earliest reasonable time. Under applicable regulations, we will keep records containing client personal data, trading data, account opening documents, communications and anything else as required by applicable laws and regulations.
EU User Rights
You may request to:
Receive confirmation as to whether or not Personal Data concerning you is being processed, and access your stored Personal Data, together with supplementary data.
Receive a copy of Personal Data you directly volunteer to us in a structured, commonly used and machine-readable format.
Request rectification of your Personal Data that is in our control.
Request erasure of your Personal Data.
Object to the processing of Personal Data by us.
Request to restrict processing of your Personal Data by us.
Lodge a complaint with a supervisory authority.
However, please note that these rights pertain to EU residents only, are not absolute, and may be subject to our own legitimate interests and regulatory requirements. Users outside the EU are welcome to contact us for any questions or requests at the details below.
How to contact us?
If you wish to exercise any of the aforementioned rights, or receive more information, please contact us using the details provided below:
We understand the importance of protecting children’s privacy, especially in an online environment. The Site and Services are not designed for or directed at children under the age of 18 years old (“Minors”). We do not knowingly collect Personal Data from Minors. If a parent or guardian becomes aware that his or her child has provided us with Personal Data, he or she should contact us using the details provided above.
Updates to this Policy
Terms and Conditions
Please carefully read
PLEASE CAREFULLY READ
THESE TERMS AND CONDITIONS APPLY TO THE WEBSITE LOCATED AT www.uptrendcenter.com (THE “WEBSITE”) AND THE SERVICES OFFERED THROUGH THE WEBSITE. IF YOU DO NOT AGREE TO ANY OF THE PROVISIONS OF THE TERMS AND CONDITIONS, YOU SHOULD STOP USING THE WEBSITE AND SERVICES IMMEDIATELY.
Acceptance of the Terms and Conditions
These Governance Terms and Conditions (the “Terms”) are a binding agreement between Uptrend Center (the “Company,” “us” “our” or “we”) and you, the person who uses the services described herein and/or the Website (the “Client,” “you” “your” or “yourself”).
By your use of the Website and/or opening an account to use our services, you agree to comply with the terms and conditions governing your use of the Website and the services offered through the Website (the “Services”).
The Company shall be entitled to modify, change, or amend the Terms at any time and shall post the amended Terms on the Website, indicating the date the Terms were last amended. You shall be solely responsible for checking for any such updates from time to time. If you do not agree with any modification to the Terms your sole and exclusive remedy is to terminate your use of the Services and close your Account (as defined below).
Summary of the Services
Our Services allow you to enter into transactions with the Company for CFD trading, in accordance with the Terms herein. “CFD”, or Contract for Difference, enables traders and investors an opportunity to profit from price movement without owning the Underlying Assets, where the profits are calculated by the movements in the prices of the Underlying Asset between trade entry and exit, computing only the price change without consideration of the asset’s underlying value.
CFDs are over-the-counter derivative Financial Products, which are not traded on any exchange and do not provide its holder with any rights or in the Underlying Asset.
For the purposes of these Terms, “Underlying Assets” means the security, index, commodity, foreign exchanges, futures contract, bullion, or other instrument or asset or factor the reference to which the value of CFD is determined.
For the purpose of these Terms “Price” means the price or rate quoted by us (as adjusted for any fees and/or charges) and agreed to by you, whether it’s a buy price or a sell price.
Third party services or content
While using the Services, You may view content or services provided by third parties, including User Content posted by other Users and advertisements.
We do not control, endorse or adopt such content or services, and it may not always be accurate or current.
Without derogating from the generality of the foregoing, it is emphasized that all content related to the advcash.com are not provided by the Company or by anyone on its behalf, and We do not control, endorse or adopt any such content.
Accordingly, We recommend that You independently verify all information before relying on it, and any decisions or actions taken based upon such information are Your sole responsibility.
The Platform may contain links, content, advertisements, promotions, logos and other materials to platforms, websites or software that are controlled or offered by third parties (the “Links”). We caution You to ensure that You understand the risks involved in using such websites, software, platforms or materials before retrieving, using, relying upon or purchasing anything via these websites, platforms or software or based on such materials. Such Links are provided solely for Your convenience, and You agree that under no circumstances will You hold Us liable for any loss or damage caused by use of or reliance on any content, goods or services available on other websites, platforms or software.
The inclusion of Links in the Platform is not an endorsement, authorization, sponsorship, affiliation or any other connection between Us or those websites, platforms, software or their operators.
Registration and Your Account
In order to use our Services and initiate any Transaction, you understand that you must open an account through our Website (your “Account“) and undergo our registration process, including without limitation, for the purposes of KYC, as shall be further described herein. You will be prompted to create a username and password to open your Account on the Website (your “Log-In“) and to proceed with registration. During the registration process, you shall provide us with requested information, which may include, without limitation, your name, identification number, birth date, e-mail address, postal address, telephone number, and/or credit card information details, as applicable (“Registration Details“). You will use your Log-In to access your Account and Registration Details, as well as to access any other information that may be posted to your Account from time to time, such as transactional activity once you have been approved to use our Services.
You warrant and represent that all Registration Details that you provide to us, are true, accurate, and complete, and that you shall promptly update your Registration Details upon any changes to this information. You understand and agree that the name you provide must match the name on the credit/debit card(s), bank details, and other payment accounts [(e.g. personal virtual wallet)] which you provide to us.
You further acknowledge and represent to us the following:
you are at least 18 years of age and the legal age to enter into a binding agreement in your location;
you are of sound mind and capable of taking responsibility of your own actions with the full legal capacity to accepts these Terms;
the purpose of your Account is for your own personal use;
you shall only open one Account with the Website;
you shall not assist others in obtaining unauthorized access to the Website, Services and/or your Account and/or any other activity on the Website that has been strictly authorized to you;
you shall not access the account of any other person through the Website; and
you shall be fully responsible for any activities undertaken by you on the Website and during the registration process.
You also acknowledge that certain restrictions may apply to CFD trading based upon applicable laws and regulations in your jurisdiction that may restrict us from entering into certain Transactions with you, and you understand that we have the right not to enter into any Transaction with you.
Confidentiality. You understand that you are responsible for maintaining the confidentiality of your Log-In, Account, and Registration Details and the safeguarding of your information. You understand that any compromise of your Log-In, Registration Details, and/or other Account infromation may expose your personal and confidential information to unauthorized access by a third party, which may also result in loss or theft of your funds, as well as any linked accounts, such as your linked bank accounts and credit cards.
You are responsible for the security of your Account information on your own personal computer and internet access location. You understand that if your username and password combination is “hacked” from your computer due to any viruses or malware that is present on the computer, or other device, from which you access the Website, the Company shall have no liability and you shall maintain responsibility. You should report any possible hacking attempts or security breaches from your computer terminal, or other device, immediately to the Company.
In the event you have any knowledge of: a) a third party gaining access to your Log-In and/or Account or other breach of security related to your Log-In and/or Account, b) compromise of your personal information, and/or c) any other unauthorized use of your Registered Details on the Website, you should notify us immediately by sending an email, to [email protected] including all relevant details.
Unauthorized Use. In the event you create a Log-In, open an Account, and gain access to the Services without our permission, we reserve the right to immediately suspend or terminate your use of the Website, as we deem appropriate, as well as suspend or terminate any pending orders or transactions; and we reserve the right to seek any other remedy to which the Company may be entitled for such violation and the Company may take further actions against you.
Security Alerts. The Company does not guarantee to provide you with security alerts or any other alert and the Company shall not be held liable for not providing any alerts. In no event will the Company be held responsible for any damages or losses which you may sustain as a result of compromise of your Log-In, Registration Details, or other Account information, other than due to the gross negligence of the Company.
No Criminal Activity Permitted. You hereby represent and warrant that you are in compliance with all applicable laws and regulations. Any criminal activity or fraudulent acts committed by you or under your supervision and/or control through your use of the Website and/or our Services are absolutely not permitted. You affirm and declare that you shall not perform or attempt to perform any such activity, including but not limited to, fraud, money laundering, illegal gambling operations, terrorist financing, or malicious hacking. You also agree not to hide your IP location and you shall always disclose your accurate and true location.
Know Your Customer (“KYC”), AML Policy, and Compliance
As part of our KYC procedures and in order for you to be approved to use our Services, we will conduct a verification process to verify your Registration Details and confirm your identity and eligibility to use our Services. During this verification process, we may request certain documents from you, which may include proof of address, such as a utility bill, proof of your payment method, and a copy of a government-issued identity card. We reserve the right to require certified or notarized copies at your expense. You understand that we shall be under no obligation to accept any documents as valid. In addition to documentation, we may also choose to verify your identity through a video and/or audio call conference (collectively, the “KYC process”).
Along with our KYC procedure, we have implemented certain checks to prevent money laundering (the “AML policy”). Money laundering means the disguising of the source of proceeds derived from criminal activity so that it appears as though it came from legitimate sources of income. In order to prevent any criminals from laundering or attempting to launder criminal proceeds through our Website or Services, the Company has set forth the AML policy.
You acknowledge that in order to conduct such verification process and/or background checks, in accordance with our KYC procedure and AML policy, we may perform inquiries, directly or indirectly through third party service providers to prevent fraud, suspicious activity, misidentification, money laundering or any other prohibited activity. We reserve the right to take any action we deem necessary with respect to the outcome of such inquiries. You agree and consent to the Company’s global transfer, if necessary, of your information as required for its legitimate business purposes. The Company will retain your information to perform KYC checks for the period necessary to perform the KYC/AML reviews, and as required to comply with the Company’s legal obligations.
In the event that you fail our internal compliance and security checks for any reason, you may be prevented from using our Services, accessing the Website, and/or we may limit or suspend your use of the Services and/or Website at any time. You understand that the outcome of such KYC/AML reviews, including a decision not to approve you to use our Services, is within the Company’s sole and absolute discretion, and we are under no obligation to provide feedback on the exact nature of our findings.
Suspension or Termination of Your Account
In the event the Company determines, in its sole discretion, that any activity you perform through our Website is suspicious or related to any prohibited activity, the Company may cancel or suspend your Account and/or access to the Website, block any outstanding transactions, deny any new transactions, and/or freeze any funds that may be available to you through our Services. You understand that you shall be held liable for losses incurred by the Company or by any third party due to the Client’s non-compliance and/or violation of any of the foregoing rules. The Company shall be entitled to inform any relevant authorities or entities (including credit reference agencies) of any payment fraud or other criminal activity, and may also engage collection services to recover payments. You further acknowledge and understand that the Company also has the right to suspend or terminate your for any other reason.
You may terminate your Account at any time by submitting your request to terminate your Account at [email protected]. You will be responsible for fulfilling any outstanding payment obligations to the Company existing as of the effective date of termination and to settle any pending transactions, and to pay any applicable fees or charges. The Company reserves the right to suspend any pending transactions at the time of your termination.
You acknowledge that you are solely responsible for any applicable taxes with respect to your transaction(s) on the Website and/or through the Services. The Company is not and at no point shall provide any tax advice concerning your CFD trading or any other Transaction through this Website and/or the Services. It is your responsibility to report, pay and remit the taxes, as applicable, to the appropriate tax authorities in the relevant jurisdiction(s).
Unless otherwise agreed, the terms of any amounts payable by you under these Terms are stated exclusive of any taxes or mandatory payments. You must pay any such taxes or mandatory payments to the relevant government agency, or otherwise, which may apply under applicable laws, and you agree to fully indemnify us for any such payments we may be required to make on your behalf. You hereby agree and represent that we may debit your Account in the amount of any such payments we are required to make on your behalf.
Service Fees and Charges
You agree to pay to us the following fees and charges (collectively, the “Fees“):
Dormant Account FeesIn the event that no Transaction has been executed through your Account for 60 consecutive days, we maycharge your Account with Dormant Account Fees in the amount of 49 (ninety nine) USD/ GBP/ EUR per each such period. You hereby explicitly confirm and authorize us to charge your Account with the Dormant Account Fees, which shall be deducted automatically.
Event of Default chargesWe may charge you, debit your Account or otherwise be reimbursed by you for any costs and expenses which may apply to us pursuant to your Event of Default. An Event of Default shall mean any breach by you of these Terms, or you becoming in any way unable to pay your obligations (e.g. if you become insolvent or bankrupt, or a receiver, manager or administrator is appointed to you or any of your assets).
A daily charge may apply to each Forex or CFDs open position at the closing of the Company’s trading day (the “Overnight Fee“). If the Overnight Fee is applicable, it will be paid by the Client directly to the Company from the Clients’ Trading Account Balance. The method of calculation of the Overnight Fee varies according to the type of FX/CFD to which it applies to. The Overnight Fee will be debited from the Client’s account on the next trading day following the day to which it relates.
The Company reserves the right to change the method of calculating the Overnight Fee, the financing rates and/or the types of FX/CFDs to which the Overnight Fee applies. For certain types of FX/CFDs, a commission is payable by Client to open and close FX/CFD positions. Such commission payable will be debited from Client’s account at the same time as the Company opens or closes the relevant FX/CFD. Changes in our swap interest rates and calculations shall be at our own discretion and without notice. Clients need to always check information for the current rates charged. Information concerning the swap rates for each Financial Instrument is displayed on the Trading Platform. Rates may change quickly due to market conditions (changes in interest rates, volatility, liquidity etc.) and due to various risk related matters that are at the Company’s sole discretion.
Any open FX/CFD transaction held by a Client at the end of the trading day as determined by the Company or over the weekend, shall automatically be rolled over to the next business day so as to avoid an automatic close and physical settlement of the transaction. Client acknowledges that when rolling over such transactions to the next business day a premium may be subtracted from the Client’s account with respect to such transaction.
Information concerning the Overnight Fee rates will be visible to you upon pressing the right arrow dropdown option avilable near each transaction on the Trading Platform.
If you are in a selling position you will find the Overnight Fee (percentage) listed under the “Sell Rollover” section of the dropdown. If you are in a buying position you will find the Overnight Fee (percentage) listed under the “Buy Rollover” section of the dropdown.
On Wednesday around 00:00 GMT, the overnight fees are multiplied by three (x3) in order to compensate for the upcoming weekend.
Additional Fees and ExpensesWe may charge you, debit your Account or otherwise be reimbursed by you for any costs and expenses which may apply to us by third parties in connection with your trading with us, including but not limited to any transaction charges, commissions, fees, Prices, premiums, settlement and clearing fees, legal expenses and taxes.
Fees in connection with Third Parties. You acknowledge and agree that:
We may receive commissions and other benefits from third parties in relation to Transactions we enter into with you or on your behalf or in connection with other services provided to you. We are entitled to retain such commissions and benefits;
If you have been referred to us by or on behalf of a broker or other third party, that broker or third party may receive benefits in the form of a commission or rebate from us;
You hereby explicitly agree and consent that any Fees which shall be payable by you shall be deducted from your Account without prior notice.
Transactions: Opening and Closing CFD Transactions
All Transactions are entered into between you and us as principal. Transactions involve opening or the closing out of a CFD. You acknowledge that all Transactions are based upon a Price we quote and agreed to by you. You also understand that we are not required to enter into any Transaction with you. For the purposes of these Terms, a Transaction may also be referred to as a CFD hereinafter.
Quotes. Prices for such CFD transactions are quoted by the Company with a buy price and a sell price. The price quote given to you by us allows you to enter into the Transaction at the higher quoted price or to close out an existing CFD at the lower quoted price.
Long and Short Positions. When entering into a CFD in the expectation that the price of the Underlying Asset will increase, you go “long” and enter into a long position. When entering into a CFD in the expectation that the price of the Underlying Asset will decrease, you go “short” and enter into a short position. Generally, in a long position you will buy, and in a short position you will sell. Please see Appendix 1 to these Terms for examples of going long and short.
Before you enter into a Transaction, you are required to hold sufficient funds in your trading account incloding the Margins (as defined in Section 10 below).
Orders. To enter into a Transaction, you must choose one of the offers on the Website and requesto to open the relevant Transaction (“Order”). Any Order you insert shall be considered pending, not be binding on us until confirmed and executed by us, which may be immediate or may take some time, based on various factors, including technological setbacks and market conditions. Once an Order is accepted, the Transaction is final and irreversible, and can not be cancelled. We may reject any Order inserted by you, for any reason whatsoever, including if we believe there has been an error or a price manipulation of any sort.
Confirmations. After we execute your Order and open the subsequent Transaction, you will automatically receive from us a confirmation via the Company’s online trading platform (the “Platform”) or other electronic format (e.g. email). You must review any confirmation or statement immediately to ensure its accuracy and you must report any discrepancies to us as soon as reasonably practical. Confirmations are deemed to be conclusive and binding on you if not objected to by you in writing within 48 hours of the confirmation being made available to you.
You will not be able to enter into any new Transactions where the Underlying Asset is subject to a trading halt or suspension by the relevant market (or if the relevant index is suspended), or otherwise not being able to be traded.
Closing Out. Generally, CFDs do not have an expiry date. They remain open until they are closed in accordance with the terms of your Transaction. When you wish to close a CFD position, you enter into a CFD which is equal and opposite to the open CFD. To proceed in this manner, you must contact a Company representative via the Platform and we will determine the current market value (or level) of the Underlying Asset for the CFD, with the view to closing the CFD position (or part of it).
Upon receiving the quote of the current market value from us, you will have the opportunity to accept the value. Upon your decision to accept, the next step involves your instruction to us to close your open position in accordance with your instructions. The total closing value is then determined by multiplying the number of CFDs by the value of the CFD’s Underlying
In the event the Underlying Asset has its own termination or expiry date, then the relevant CFD will terminate on or before the expiry of the Underlying Asset, unless earlier terminated by you or upon your instructions to rollover the CFD. For example, a CFD over a futures contract traded on an exchange usually has a fixed expiry date, and generally, prior to termination, the exchange will issue a notice of that expiry. It is your responsibility to monitor the notice dates and expiry dates of any Underlying Assets for your CFDs.
When you open a CFD, you may also have the option to pre-determine a close-out date based on the occurrence of certain events or market prices.
We shall have the right, in our sole discretion and without providing you any prior notice, to close out any open CFD immediately, at the occurence of any of the following:
Your breach of these Terms or of any of your obligations to us;
Any Adjustment Event (see Section 12 below);
We reasonably suspect any market manipulation or price manipulation has taken place;
Any material error has occured in relation to that CFD; or
Any technical problem occurs, which requires the close out of the CFD.
Payment Rights upon Closing. On the day that the CFD is closed, we will calculate the remaining payment rights and obligations to reflect movements in the contract value as of the close of the previous business day (including other credits/debits).
Errors. In the event the Company, in its sole discretion, determines that a Transaction was affected by a substantial error or technical malfunction in any way (whether before or after the Transaction was opened), the Company may cancel, void and/or terminate the Transaction, in its sole discretion. The Company may take any such action even after the Transaction is closed and settled, thus reversing any payout already made to or from your account. You hereby acknowledge that such action may affect the balance in your account. In any such event, the Company shall provide notice to you explaining the error or malfunction and the actions taken by it.
Scalping This term may refer to a method of arbitraging or a fraudulent form of market manipulation. Scalping may also refer to the opening of trades for less than five minutes.
The Client understands and agrees that certain trading activities and orders are prohibited by the Company, including, but not limited to, scalping, the use of expert advisors and/or other software that conducts manipulation or falsification in the trading platform. The Company reserves the right to halt, restrict, remove, close, or cancel any trade, order, or account that is suspected or proven to conduct prohibited trading activities. If the Client is proven or allegedly involved in illegal activities or prohibited trading throughout the period of performing obligations under any contract, relevant charges shall be made, where the Company can nullify all profits in the trading account. In this case, the Company and its providers have the right to cancel lots that were made from the beginning of the contract.
If the Client has a shares reservation and/or contract reservation that was not implemented and/or was not successfully executed, its amount percentage equivalent will be deducted from the trading account of the Client. If the Client has shares reservation and/or contract reservation that was not modified and/or successfully executed, its amount in proportion with the percentage of the contract volume will be deducted from the trading account. For the benefit of the Client, the Company reserves the right to close an ongoing trade in divided lots and/or volumes to indemnify and/or mitigate the floating loss from the total floating profit. The relevant trading contract can be considered settled if the Client meets the required percentage volume, which includes 25% in each market (Forex, Indices, Stocks, and Commodities). Moreover, trades under the contract can also be considered settled if it profited, wherein negative trades will be excluded. Trading strategies such as Hedging, Expert-Advisors trading, and Scalping or Arbitraging shall not be classified into the efficient trading volume. These types of trading strategies are strictly prohibited, which are eligible grounds for the Company to terminate any agreements and contracts with separate charges, including canceling all the lots from the successfully executed trades during the contract period.
Deposits. In order to initiate any Transaction, you must first maintain sufficient cleared funds into your Account by way of deposits to cover your desired transaction. You may deposit funds through the use of credit card payment, a bank transfer or a virtual currency transfer to the account provided by the Company. You understand and acknowledge that the payment methods accepted by the Company may change from time to time at our discretion. The Company, at its sole dicretion, may require a minimum amount to deposit and may change the minimum from time to time.
You understand and acknowledge that the Company cannot guarantee that your credit card provider or bank will accept the funds and it is your responsibility to ensure that the credit card company or bank that you wish to use will accept your funds.
Chargebacks. You agree that you will not make or attempt to make any chargebacks, and/or deny or reverse any payment or deposits that you have made. You hereby agree that you will reimburse us for any chargebacks, denial or reversal of your payments or deposits and any loss suffered by us as a consequence of this. In any such event, we reserve the right to cease to provide the Services, terminate the Terms, withhold payments to you, and take any further action which we may see as appropriate.
You also agree that the Company may, at any time, set off any amount owed by us to you against any amount owed by you to us and adjust your Account records to reflect any changes resulting from such set-offs.
Leverage and Margin
CFDs are leveraged products, meaning that you are required to pay only a certain fraction of the total value of the contract in order to enter and maintain a CFD (“Margin”). This means that with a small amount of money you are able to control a larger amount, giving you a higher market exposure. You should be always aware that just as the leverage may work in your favor, magnifying your gains, it may also work against you, in similarly magnifying your losses. Since the CFDs are leveraged instruments, by trading them you are exposed to the risk of losing substantially more than your initial investment amount.
There are two types of Margin or “Margin cover” applicable to your Account:
an “initial” margin, to enter into a CFD (the “Initial Margin”), which will typically be a percentage of the total value of the contract, to be determined by us;
a “maintenance” margin, meaning a margin to maintain the Margin cover in light of adjustments to the percentage of value of the security allowed as Margin cover or other trading platform adjustments not related to the price movements of the financial products (a “Maintenance Margin”).
Margins must be held as long as a position is open, as further explained under Section 10. The minimum Margin will be set by us and can be changed at our sole discretion at any time according to the movement in the market, and represent a percentage of the total value of the CFD, and shall typically be between 0.25% and 50%, but may be as high as 100% of the CFD value. For example, if the value of a CFD is $220,000, the Margin might be $22,000, which represents 10% of the CFD value.
The Margin cover is usually provided from available funds in your trading account. This means that you must hold sufficient funds in your trading account before you can open a position. Owing to the volatility of the market, the amount of required Margin cover may change after a position has been opened, requiring a Maintenance Margins to be paid by you at that time. The Margin requirement is calculated to cover the maximum expected movement in the market at any time.
Please see Appendix 1 for trading examples and how the Margin requirements apply.
We may call in a request for you to deposit additional funds into your Account to meet Margin requirements and maintain your open position (“Margin Call”).
Upon receipt of a Margin Call, you may either reduce your position in order to reduce your Margin requirement or deposit additional funds into your account to increase the equity amount and satisfy the Margin Call.
During the period commening from the moment you receive a Margin Call, and until the completion of one of the two steps above, you will not be able to open new positions. In the event you do not comply with a Margin Call, we reserve the right to close out all or some positions in order to protect against exposure to further losses. Any losses resulting from Closing Out your positions will be debited to your trading account and you may be required to provide additional funds.
It is important to note that we are under no obligation to send you a Margin Call, and that the obligation to pay the Maintenance Margins is upon you, and it incurs at the time of the occurrence of any movement in the market which results in an unrealised loss, regardless of whether a Margin Call is demanded.
In the case where you choose to deposit additional funds to comply with a Margin Call, it is your responsibility to provide the payment in cleared funds on time, taking into account the processing time of the deposit.
Closing Out upon Adjustment Events
Should any event which gives us the discretion to adjust to the terms of the CFD occur (each, an “Adjustment Event”), whether prior to or after you entered into a position relating thereto, we may, at our sole discretion:
Adjust any of the terms (including the price) of a CFD in accordance with this Section; or
If we determine (in our sole discretion) that it is not reasonably practicable to make such an adjustment, we may Close Out the CFD in accordance with these Terms.
An Adjustment Event may be, for example, each of the following:
Any event which has a dilutive or concentrative effect on the market value of the Underlying Asset;
If the Underlying Asset is a derivative which is able to be traded on a market – any event in respect of which the operator of the market makes an adjustment to the terms of the Derivative.
If the Underlying Asset is a share, debenture, unit or other security (or depositary receipt of any kind in respect of such) – upon any consolidation, reclassification or sub-division, buy back, in specie distribution, takeover, scheme of arrangement or similar event or other corporate action event in respect of the security, whether or not the event triggers an adjustment to any exchange traded derivative of it;
A distribution to existing holders of additional shares or other securities or other financial products granting them the right to receive dividends or other proceeds equally and proportionately with payments made to holders of the underlying securities; or securities, rights or warrants granting the right to a distribution of shares or to purchase, subscribe, or receive shares, in any case for payment (in money cash or money’s worth) at less than the prevailing market price per share as determined by us; or
If the Underlying Asset is an index, a substantial adjustment to the composition of the index outside its own terms allowing for adjustments or weightings; a failure to publish the index or a suspension or cancellation of the index.
Adjustment of CFDs
Following our determination that an Adjustment Event has occurred, we will determine the adjustment, if any, which should be made in the CFD in order to place the parties in substantially the same economic position they would have been in had the event not occurred.
We will notify you as soon as practicable of the adjustment, which will be deemed to be conclusive and binding on you.
Closing Out CFDs
If at any time after the occurrence of an Adjustment Event we determine (in our sole discretion) that it is not reasonably practicable to make an adjustment in accordance this Section, we may at any time after the Adjustment Event close out the Transaction.
If the Underlying Asset is subject to a take-over offer or similar event, we may at any time prior to the closing date of such offer, close out the CFD at our sole discretion.
If the issuer whose security represents the Underlying Asset on which all or part of a CFD is based becomes externally administered, the CFD will be taken to have been closed out at that time. The closing price of the CFD will be determined by us in good faith, considering a number of factors we deems appropriate including, for example, the last traded price of the Underlying Asset.
If the Underlying Asset on which the CFD is based becomes subject to a trade halt or suspension under the rules of the relevant market, or ceases to be listed for quotation on a market for 2 consecutive Business Days, we may, in our absolute discretion, close out all relevant CFDs.
Prior to the adjustment or closing out of a CFD under this Section 11, we might give you notice of our intention to do so, including the terms of such adjustment or closing out. Provided, however, that should we determine, at our sole discretion, that it is not reasonably practicable to give you such notice prior to the adjustment or closing out of a CFD, we may do so as soon as reasonably practicable thereafter, which shall not affect the terms and the time on which the adjustment or closing out of the CFD has taken place. Any such notice shall be provided to you via the Platform and/or by email.
Intellectual Property; Website Technology
The brand names relating to the Website and any other trademarks, service marks and/or trade names used by us either on our own behalf, or on behalf of our licensors, are owned by us, or our licensors (the “Trade Marks”). In addition to the Intellectual Property Rights (“IPR”) in the Trade Marks, we and/or our licensors own the IPR in all other content of the Website (the “Content”). By using the Website and/or the Services, you shall not obtain any rights in the Trade Marks or the Content and you may only use the Trade Marks and Content in accordance with the Terms.
You may only use the software connected to the Website (the “Software”) and all content derived from the Software, including, but not limited to, the copyright and all other IPR in the Software, in connection with the Services for your personal and non-commercial use and in accordance with the Terms. The Software’s code, structure and organization are protected by IPR.
For the purposes of these Terms, “Intellectual Property Rights” or “IPR” shall mean means pending or granted patents, trademarks, service marks, trade names, registered and unregistered designs, trade or business names, copyright (including, but not limited to, rights in software), and any applications for any of the aforesaid, database rights, design rights, know-how, trade secrets, rights in confidential information and any other intellectual property rights whatsoever irrespective of whether such intellectual property rights have been registered or not which may subsist in any part of the world.
You hereby undertake not to: (a) copy, redistribute, publish, reverse engineer, decompile, disassemble, modify, translate or make any attempt to access the source code to create derivative works of the source code, or otherwise; (b) sell, assign, sublicense, transfer, distribute or lease the Software; (c) make the Software available to any third party through a computer network or otherwise; (d) export the Software to any country (whether by physical or electronic means); or (e) use the Software in a manner prohibited by any laws or regulations which apply to the use of the Software (collectively, and individually, the “Prohibited Actions”).
You shall be held liable for any loss, including direct and indirect damages, costs or expenses, we may suffer as a result of your Prohibited Actions. You agree to immediately notify us if you commit any Prohibited Actions or if you have knowledge of any third party committing any Prohibited Actions. You agree to provide us with reasonable assistance with any inquiry or investigation we may conduct as a result of the information provided by you in regards to the Prohibited Actions set out above.
Beware of Viruses and Phishing. You understand and bear the risk that any use of the internet may be subject to a virus attack and/or communication failure. You should use a reputable and available virus screening and prevention software at all times. The Company shall not bear any liability, whatsoever, for any damage or interruptions caused by computer viruses, spyware, Trojan horses, worms or other malware that may affect your systems, computer or other equipment, or any phishing, spoofing or other virus attacks. The Company cautions you to carefully review any electronic messages purporting to originate from the Company, and to be aware that electronic devices are vulnerable to phishing and spoofing scams and additional viruses. The Company advises you to always provide your Log In through the Website only and avoid using unauthentic communications advising you of other options to provide your Log In (or other Registration Details) to gain access to the Services offered through the Website.
External Websites and Third-Party Signal Providers
The Company makes no representations and takes no responsibility whatsoever regarding any third-party websites, services, or content which you may access through this Website. The Website or the Company’s representatives may present links or other forms of references to other websites, resources or market research providers (including but not limited to market research provider “Trading Central”), (the “External Websites”) over which the Company has no control. You acknowledge that the Company may present such links or references to you only as a convenience and that Company does not endorse any of the External Website services or offerings made to you or any content provided therein. The Company is not responsible for the availability of, and content provided on External Websites. You are requested to review the policies posted by the External Websites regarding privacy and other topics before use. The Company is not responsible for third party content accessible through the Website, including opinions, advice, statements, prices, activities, and advertisements, and you shall bear all risks associated with the use of such content. It is up to you to take precautions to ensure that whatever you select for your use is free of such items as viruses, worms, Trojan horses and other items of a destructive nature. If you access any such External Websites you agree that you do so at your own risk, you agree that we will have no liability arising from your use of or access to any External Websites and you agree that you understand that past performance is not a reliable indicator of future performance. You are requested to review the policies posted by the External Websites regarding privacy and other topics before your use.
CLIENT HEREBY ACKNOWLEDGES AND UNDERSTANDS THAT TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW AND EXCEPT AS OTHERWISE EXPRESSLY SPECIFIED IN WRITING BY THE COMPANY, (A) THE USE OF THE SERVICES, SOFTWARE AND WEBSITE IS, ON AN “AS IS” AND “AS AVAILABLE” BASIS, WITHOUT ANY WARRANTIES OR REPRESENTATIONS OF ANY KIND, AND THE COMPANY EXPRESSLY DISCLAIMS ALL IMPLIED WARRANTIES AS TO THE SERVICES, SOFTWARE, AND WEBSITE, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT; (B) THE COMPANY DOES NOT REPRESENT OR WARRANT THAT THE SERVICES, SOFTWARE OR WEBSITE ARE RELIABLE, CURRENT OR ERROR-FREE, THAT THEY MEET CLIENT’S REQUIREMENTS, OR THAT DEFECTS IN THE SERVICES, SOFTWARE OR WEBSITE WILL BE CORRECTED; AND (C) THE COMPANY CANNOT AND DOES NOT REPRESENT OR WARRANT THAT THE SOFTWARE OR WEBSITE, ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS AND THE CLIENT ACKNOWLEDGES THAT THE USE OF THE SERVICES, SOFTWARE, AND WEBSITE ARE AT THE SOLE RISK OF THE CLIENT.
CLIENT ACKNOWLEDGES AND AGREES THAT TO THE EXTENT PERMITTED BY ANY APPLICABLE LAW IN NO EVENT WILL THE COMPANY, ITS AFFILIATES, LICENSORS AND/OR SERVICE PROVIDERS, OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES OR REPRESENTATIVES, BE LIABLE FOR ANY AND ALL DAMAGES OR INJURY WHATSOEVER CAUSED BY OR RELATED TO THE USE OF, THE SERVICES, SOFTWARE, AND THE WEBSITE, UNDER ANY CAUSE OR ACTION WHATSOEVER OF ANY KIND IN ANY JURISDICTION, INCLUDING, WITHOUT LIMITATION, ACTIONS FOR BREACH OF WARRANTY, BREACH OF CONTRACT OR TORT (INCLUDING NEGLIGENCE) AND THAT COMPANY, ITS AFFILIATES, LICENSORS AND/OR SERVICE PROVIDERS, OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES OR REPRESENTATIVES, SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES, INCLUDING FOR LOSS OF PROFITS, GOODWILL OR DATA, IN ANY WAY WHATSOEVER ARISING OUT OF THE USE OF THE SERVIES, SOFTWARE OR THE WEBSITE.
You agree to defend, indemnify and hold harmless the Company, its subsidaries, connected companies, affiliates and service providers, and any of their respective employees, officers, directors, agents, joint ventures, and representatives, from any claims, demands, liabilities, damages, or costs (including attorneys’ fees, fines, or penalties) suffered by the Company and arising out of or related to (i) breach by you of the Terms; (ii) your use of the Website, Software, or Services or use by any other person accessing the Services or Software using your user identification whether or not with your authorization; or (iii) any violation by you of any law, rule, regulation, or the rights of any third party.
Trading in leveraged financial instruments, such as CFDs, carry a high level of risk, including the risk of losing your entire invested capital, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you.
Trading in CFDs should not be undertaken unless you understand and are comfortable with the risks of CFDs. You should consider whether dealing in CFDs is appropriate for you in the light of your circumstances and after carefully reviewing the all the risk factors of CFD.
CFDs are derivative products that are speculative and carry significant risks. We do not make or give any recommendation, advice or opinion in relation to CFDs. We do not take into account your objectives, financial situation or needs. You should obtain your own independent financial, legal, taxation and other professional advice as to whether the CFDs are an appropriate investment for you.
The Company neither takes responsibility for any loss, nor does it advise the Clients with regards trading. The Company and the Client are counterparties and therefore, do not have the same interest in an outcome of a given trade. You must trade in your sole discretion and based on your personal knowledge. Moreover, We act as the contractual counterparty to your Transactions, and not as your agent or broker. As such, you understand and acknowledge that an inherent conflict of interest exists between you and us in this regard, and you should assume that we have an economic incentive to be a counterparty to any Transaction with you.
Entire Agreement. These Terms comprise the entire understanding and agreements between you and the Company as to the subject matter hereof, and supersedes any and all prior discussions, agreements and understandings of any kind (including without limitation any prior versions of this Agreement), and every nature between you and the Company.
Status of Parties. Both you and the Company are independent parties, and nothing in these Terms shall be deemed to create between you and the Company any other form of relationship, and the parties shall not be deemed to be partners, joint ventures or agents. You are not authorized to make any obligations on behalf of the Company.
Assignment. You may not assign any rights and/or licenses granted under these Terms, including without limitation, the right to use the Account which is exclusively for your personal use. The Company reserves the right to assign our rights without restriction, including without limitation to any Company affiliates or subsidiaries, or to any successor in interest of any business associated with the Company Services. Any attempted transfer or assignment in violation hereof shall be null and void. Subject to the foregoing, these Terms will bind and inure to the benefit of the parties, their successors and permitted assigns.
Severability. If any provision of these Terms shall be determined to be invalid or unenforceable under any rule, law or regulation or any governmental agency, local, state, or federal, such provision will be changed and interpreted to accomplish the objectives of the provision to the greatest extent possible under any applicable law and the validity or enforceability of any other provision of these Terms shall not be affected.
Survival. All provisions of these Terms which by their nature extend beyond the expiration or termination of these Terms, including, without limitation, sections pertaining to suspension or termination, Company Account cancellation, debts owed to the Company, general use of the Company Website, disputes with Company, and general provisions shall survive any expiration or termination of the Terms.
Force Majeure. Company shall not be liable for delays, failure in performance or interruption of service which results directly or indirectly from any cause or condition beyond its reasonable control, including, but not limited to, any delay or failure due to any act of God, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or other labor dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond Company’s reasonable control and shall not affect the validity and enforceability of any remaining provisions.
English Language Controls. Any translation of the Terms, if provided, is provided for your convenience alone. The meanings of terms, conditions and representations herein are subject to definitions and interpretations in the English language. Any translation provided may not accurately represent the information in the original English.
Confidentiality. If in the course of using the Services you are disclosed of any confidential information, you are obligated to keep such confidential information in strict confidence and use it in connection with the Services only. You may not disclose such confidential information without the Company’s prior written consent. Upon termination of the Terms, or upon request, you are obligated to immediately return to the Company or destroy any such confidential information that you received from the Company. Confidential information shall include matters related to any arbitration or related judicial proceedings, if any, to the greatest extent practicable.
Governing Law. The Terms and the relationship between the parties shall be governed by, and interpreted in accordance with, the laws of saint vincent and the grenadines and you irrevocably submit, for the benefit of the Company, to the exclusive jurisdiction of the courts of saint vincent and the grenadines to settle any disputes (including claims for set off and counterclaims) which may arise in connection with the creation, validity, effect, interpretation or performance of, or the legal relationships established by, the Terms or otherwise arising in connection with the Terms.
Appendix No. 1
Below are some examples to illustrate the variables for a typical Transactions and how they affect the calculations. The variables of your actual Transactions will of course differ, as these examples are for illustrative purposes only. These examples do not reflect any actual Transaction or market conditions and are not forecasts or projections of any particular Transaction.
(i) Example of going short and making a profit on share CFDs*:
You opened an account with us, with an opening balance of $10,000
Opening a Position
The price of CFD on Facebook share is $120.88 (bid price)/ $121.33 (offer price)
You sell 100 Facebook share CFDs at the bid price of $120.88
100 x $120.88 = $12,088.00
The Initial Margin requirement for this trade equals the number of CFDs multiplied by trade price multiplied by the margin rate for this CFD, which is 10%.
$12,088.00 (see above) X 10% (margin rate) = $1,208.00
In this example, you were right in predicting Facebook will go down, and would have made $900 profit. However, if your prediction was wrong and the price of Facebook had moved in the opposite direction by an equal amount, your loss would have been (-) $900. Please see the example below for how this loss is calculated.
(ii) Example of going short on share CFD and incurring a loss*:
You opened an account with us, with an opening balance of $10,000
Opening a Position
The price of CFD on Facebook share is $120.88 (bid price)/ $121.33 (offer price)
You sell 100 Facebook share CFDs at the bid price of $120.88
100 x $120.88 = $12,088.00
The Initial Margin requirement for this trade equals the number of CFDs multiplied by trade price multiplied by the margin rate for this CFD, which is 10%.
$12,088.00 (see above) X 10% (margin rate) = $ 1,208.00
In this example, you were wrong in predicting Facebook will go down, and would have made $1,000 loss.
(iii) Example of going short on share CFD with margin call*:
You opened an account with us, with an opening balance of $2,000
Opening a Position
Opening a Position
Opening a Position
The price of CFD on Facebook share is $120.88 (bid price)/ $121.33 (offer price)
You sell 100 Facebook share CFDs at the bid price of $120.88
100 x $120.88 = $12,088.00
The Initial Margin requirement for this trade equals the number of CFDs multiplied by trade price multiplied by the margin rate for this CFD, which is 10%.
Your free equity is your total equity less your margin requirement.
$12,088.00 (see above) X 10% (margin rate) = $ 1,208.80
$ 2,000 (opening balance)-
$ 1,208.80 (Initial Margin requirement) = $791.20
(free equity )
You decided to hold the position overnight. The closing price for Facebook Share CFD for the day was $120.88, the same as your sell price.
At 11:30 a.m. New York time, because of better than expected earnings announcement, the Facebook share had risen to $135.88
($120.88 – $135.88) x 100 = $-1,500.00
New Equity Balance:
$ 2,000- $ 1,500.00=$500
Your account is marked to market at the current market price which will change your account balance
New Margin Requirement:
100 x $135.88 x 10% =$1,358.80
Current free equity:
$500 (total equity) – $1,358.80 (New Margin Requirement) = -$858.8
As your Free Equity has fallen into a debit balance, you would now be on a Margin Call.*
$858.8 margin call*
In this example, your Total Equity Balance fell below your Margin Requirement, your account will be placed on Margin Call. When your account moves into deficit you have two options. You can either reduce your position in order to reduce your Margin requirement or deposit additional funds into your account in order to increase the equity amount and satisfy the Margin Call.
When you are in Margin Call you are not allowed to open any new positions. Further Margin Calls will be made if the price of Facebook keeps going up during the day. Please refer to the following example.
*All examples provided above, do not include any additional Company and/or Trading Fees that the Company may imply on any transaction and/or account, including but limited to over night fees, inactive fees, etc.