1. Introduction
- The Website of cryptogt.com is owned and operated by Hatio Ltd (the ‘Company’). Hatio Ltd is a registered company in Marshall Islands, with registration number 90645 and has its registered address on Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960. These Terms and Conditions of use governs the Client’s use of the Company’s Website. By making use of the Company’s Website, the Client has accepted to abide by these terms in full. It is not possible to use the Company’s Website without agreeing to these Terms and Conditions of use.
2. Acknowledgment
- 2.1 The Client (hereinafter referred to also as ‘You’ or ‘Your’) acknowledges, confirms and approves that she/he has read, understood, accepted and agreed with all the information available on the Company’s Website, including, but not limited to legal documentation, such as Terms and Conditions of use (the ‘Terms and Conditions’, the ‘Agreement’, ‘Client’s Agreement’), as amended from time to time, Privacy Policy, Promotional Offers Terms and Conditions and AML and KYC Policy (hereinafter referred to as ‘Legal Documentation’).
- 2.2 The Client acknowledges that by accepting the Terms and Conditions of Use, the Client enters into a binding legal agreement (the ‘Client Agreement’).
- 2.3 The Client acknowledges that trading in Cryptocurrencies or any other financial instrument involves a significant level of risk and may result in loss of all funds invested. Please refer to our Risk Disclosure Notice posted on the Company’s Website.
- 2.4 The Client acknowledges that the Company’s official language is the English language.
3. Scope
- 3.1. The Terms and Conditions of Use govern all the actions relating to each and all investment services the Company is authorized to provide.
- 3.2. The Terms and Conditions are non-negotiable and override any other agreements, arrangements, express or implied statements made by the Company unless the Company determines – in its sole discretion - that the context requires otherwise. Any acts, omissions or representations (oral or otherwise) made either by the Client or by the Company (including any of Company’s employees the Client has his/her dealings with) shall not amend or take priority over this Agreement.
- 3.3. The Company reserves the right to amend, alter and modify delete or add to any of the provisions of these Terms and Conditions at any time in accordance with the terms hereof. If the Terms and Conditions were to be amended (hereinafter referred to as “Changes”) shall be published on the Company’s Website. All amended terms shall have immediate effect from the moment they are officially posted on the Company’s Website. The updated version of these Terms and Conditions becomes legally binding to both parties upon your acceptance/acknowledgement (via tick box) to those terms prior to any access, login or use to your existing account.
- 3.4. The Client’s continued use or access of the Company’s Online Trading Facility after the publication of any Changes shall be considered as the Client’s agreement to such modified Terms and Conditions and shall be governed by those Terms and Conditions as modified. If the Client does not wish to be bound by those Changes, the Client should cease to access and/or use Company’s Online Trading Facility and inform the Company in writing immediately.
- 3.5. The Client Acknowledges that he/she has read, understood and accepted all terms of the Agreement. By accepting the Agreement, the Client enters into a legally binding agreement with the Company.
- 3.6. It is expressly understood and agreed that neither this Agreement nor anything in it shall constitute or be deemed to establish a partnership, agency relationship or joint Venture between the Client (or any of his/her entities, offices, employees or agents) and the Company (or any of its offices, employees or agents).
- 3.7. Paragraph headings are for ease of reference only and are not intended to denote meaning.
- 3.8. If there is any conflict between the provisions of this Agreement and relevant Laws and Regulations, the Laws and Regulations shall prevail.
4. Commencement of the Terms and Conditions and the Right to Cancel
- 4.1 These Terms and Conditions including legal documentation shall commence application once the prospective Client initiates business relationship with the Company by accepting and agreeing to all abovementioned documents.
- 4.2 The Company reserves the right to set the Client’s account on a maximum of fourteen (14) day Probation Period from the date the company requested any verification documents, during which the Company shall collect all required documentation from the Client if deems necessary, carry out and complete due diligence and Know Your Customer (KYC) procedures. In case where the client does not provide the requested documents, the Company reserves the right to terminate the business relationship and take any other actions as described in the Termination and Default section of this Agreement.
- 4.3 The Company is under no obligation to accept Client’s Application for an Account Opening (the ‘Application’) and within the first fourteen (14) days of a Probation Period, the Company may, at its sole discretion, and without providing any reason, reject the application and terminate the Agreement.
- 4.4 The Client may cancel the Agreement by providing the Company with a written notice within the first fourteen (14) days from initiating business relationship with the Company, however this right may be limited if the Client has already entered into trades and/or those trades have been affected by any fluctuations in the market. The Termination and Default section of the Agreement contain further details regarding procedures applied in such circumstances.
5. Duration of the Agreement
- 5.1 The Agreement shall be effective since the date described in the Commencement of the Terms and Conditions and the Right to Cancel section for an indefinite period until its termination as described in the Termination and Default section of the Agreement.
- 5.2 Either Party may terminate this Agreement (and the business relationship) by giving five (5) days written notice of termination to the other.
6. Scope of Services
- 6.1 The Company provides access to Online Trading in Cryptocurrencies and other financial instruments which can be found on the Company’s Website: www.cryptogt.com
- 6.2 The Client acknowledges that the Services offered by the Company do not include the provision of investment advice. Any investment information as may be announced or provided by the Company or on its behalf does not constitute investment advice services whatsoever, or in any circumstances and shall be regarded as given for informative purposes only. No information announced or provided by the Company shall be deemed as an assurance or guarantee on the expected results of any Transaction.
- 6.3 The Client agrees and acknowledges that he/she is solely responsible for any investment strategy, Transaction(s) or investment(s), composition of any account and taxation consequences and the Client shall not rely for this purpose on the Company. It is also understood and accepted that the Company shall not bear any responsibility in any manner or form whatsoever, regardless of the circumstances, for any such investment strategy, transaction, investment or information, composition of any Account or taxation consequences.
- 6.4 The trading conditions and execution rules of the Cryptocurrencies and other Financial Instruments on offer by the Company can be found online on the Company’s Website, at any given time. Upon a notice issued to the Client, the Company reserves the right to amend its legal documents, from time to time. Even if the Company amends any part of the trading conditions and/or execution rules the Client continues to be bound by the Agreement, including but not limited to any amendments that have been implemented.
- 6.5 Unless specifically agreed, the Company is under no obligation to monitor or advise the Client on trading unless the Client is accepted for receiving service of investment advice, in which case a separate agreement between the Client and the Company shall be implemented; therefore, the Company may execute an instruction received by the Client even if such transaction is not suitable for the Client.
- 6.6 The Client understands that no physical delivery of a CFD’s underlying instrument (or reference instrument) that he/she traded through his/her Trading Account shall occur.
- 6.7 The services are available only to and may be used by individuals or companies who/which are eligible to form legally binding contracts under the laws applicable in their country of residence or, in case of companies, in their country of incorporation. Without limiting the foregoing, Company’s services are not available to persons under the age of 18 or otherwise legal age in their country of residence (hereinafter referred to as “Minors”). In case that the client is a Minor, the Company cannot provide its services to him/her and/or a Minor is not allowed to use Company’s Services.
- 6.8 The Company is entitled to refuse the provision of any investment or ancillary service to the Client, at any time, without being obliged to inform the Client of the reasons to do so in order to protect the legitimate interests of both the Client and the Company.
- 6.9 The offering of Services may not be legal in some jurisdictions. The Client understands and accepts that the Company is unable to provide the Client with any legal advice or assurances in respect of the Client’s use of the Services and the Company makes no representations whatsoever as to the legality of the Services in the Client’s jurisdiction. It is the Client’s obligation to verify the relevant laws in the Client’s jurisdiction before registering with the Company’s Website, applying for an Account and using the Services or Online Trading Facility. The Company does not intend to enable the Client to contravene any applicable laws and regulations. The Client represents, warrants and agrees to ensure that the use of the Online Trading Facility and the Services will comply with all applicable laws, statutes and regulations. The Company shall not be responsible for any illegal or unauthorized use of the Online Trading Facility or the Services by the Client. The Client should consult a legal counsel in the applicable jurisdiction if in doubts about the legality of the use of the Online Trading Facility and the Services under the laws of any jurisdiction that apply to the Client.
7. Account Opening
- 7.1 In order to open an Account every potential Client shall be required to successfully complete the Online Registration Process as determined by the Company, at its sole discretion.
- 7.2 The Client agrees and understands that once he/she completes the Online Registration Form the Company receives his/her Application for Online Account Opening. At this point, the Client authorizes the Company to use all the information provided by him/her so that the Company can use such information in order to conduct any searches for the purpose of verifying Client’s identity, against any particulars on any database (public or otherwise) to which such third parties have access to.
- 7.3 The Client agrees and understands that once he/she initiates business relationship with the Company, the Client is obliged to cooperate with the Company fully and promptly supply any information and documents required in order to verify his/her Account.
- 7.4 The Client agrees and understands that it is his/her responsibility to provide the Company with the most accurate and up-to-date information, as the Company relies on the information presented by the Client in the Online Registration Form.
- 7.5 The Client agrees and understands that the Company reserves the right to allow Clients to Deposit funds and start trading prior to providing their ‘Verification Documents’ for deposit amounts of up to 1,000 USD or equivalent. WWhen the limit is reached, the Client will be able to deposit any further amount to his/her e-wallet but the Company may restrict the Client from transferring any funds more than 1,000 USD or equivalent to his/her trading account(s). However, in order for the Clients to be able to withdraw any amount, the client must have already submitted their ‘Verification Documents’ and the documents must have been verified by the Customer Support Department.
- 7.6 Clients can request to open a total of two (2) demo accounts and a total of five (5) Live MT5 Trading Accounts in any currency. Written permission must be sent to the Company for approval for a Client to own and manage more than two Accounts. The Company reserves the right without any prior notice to block either one or all accounts, have their profits nullified and their initial investment returned if the Company has strong reasons to believe a Client directly or Indirectly is abusing the aforementioned account limit such as but not limited to, Clients operating more than two Accounts where each Account was registered under a different email with identical or different name and the Company has strong reasons to believe or appears to be the same person.
- 7.7 It should be noted that in case a Client registers a Client’s and Partner’s account with the Company, then the same email address should be used for registration of both accounts. In case where a Client’s and Partner’s account are registered with two different email addresses, the Company reserves the right to close the second account created and request by the Client or Partner as the case maybe to open a new account under the same email address.
8. Leverage/Margin Requirements
- 8.1 Client may request to change her/his leverage ratio by sending an email to support@cryptogt.com.
- 8.2 Leverage change requests can take up to 24 hours to be approved or declined accordingly. The Company reserves the right to decline any Leverage change request if the margin Level % it is equal or below 150%. Any request to decrease leverage will be approved only in the case were the Client doesn’t have open positions.
- 8.3 The Company may determine at its discretion, the leverage applied on an asset class basis or per financial instrument on the Company's Website.
- 8.4 All information regarding the leverage, margin requirements and trading limits are available on the Company’s Website.
- 8.5 It should be noted that the Company shall monitor the leverage ratio applied to Clients’ positions at all times. The Company also reserves the right to discretionally decrease the leverage ratio based on the Client’s trading activity, extremely volatile markets, and/or prior to any economic announcements in order to prevent Company’s market overexposure to high market risk due to abnormal market conditions and price fluctuations that might affect the interest of any other active Client. A notification will be sent to the Client, via any durable mean like the Online Trading Facility and/or by e-mail, notifying the Client of any change in trading conditions, including but not limited to leverage ratio.
- 8.6 The Company is monitoring the trading conditions including but not limited to leverage ratio in order to prevent any abuse of its Negative Balance by any Client.
- 8.7 The Client accepts that the Company reserves the right to cancel trades at any time and make any necessary balance adjustment after they were transmitted by the Client, in the event that the Company determines and/or suspects at its sole discretion that the Client voluntarily and/or involuntarily abuses the "Negative Balance Protection" and/or any bonus/incentives schemes or promotions offered by the Company, by way of, but not limited to, hedging their exposure using their trading accounts, whether under the same profile or in connection with another Client(s); external hedging connected to third parties and/or requesting a withdrawal of funds. In the event of such cases the Company will have the right to immediately deduct any bonus credited to the Clients’ account and completely exclude the Client from any present and/or future bonus and incentives schemes of the Company. Additionally, the Company has the discretion to block the Client’s trading account, along with all linked trading accounts, nullify any profitable trades, and return to the Client their remaining balance, if any. Upon the Company proceeding to any of the above actions, it reserves the right to close any open positions and/or pending orders and the Client understands and acknowledges that the Company will not be responsible for any loss a
- 8.8 The Company reserves the right to amend, at any time, the product specifications of such Cryptocurrencies and other Financial Instruments, available online the Company’s Website, in order to respond to a number of situations including but not limited to specific market conditions. The Client is liable for ensuring that he/she remains informed, at all times, regarding the latest product specifications.
9. Electronic Trading
- 9.1 Once the Agreement commences, as described in the Commencement of the Terms and Conditions and the Right to Cancel section of the Agreement, the Client shall:
- 9.1.1 Download and install the Trading Platform(s) software (the ‘Software’) available online on the Company’s Website and/or access his/her account through the Web-based trading platform (if applicable); and
- 9.1.2 Receive, through an e-mail, access codes (the ‘Access Codes’) to enable him/her to log-in to the Online Trading Facility in order to send and/or modify instructions for the purposes of trading Cryptocurrencies and other Financial Instruments
- 9.2 The Software, which may have been developed by a party other than the Company, supports data security protocols compatible with the protocols used by the Company.
- 9.3 The Company is responsible for maintaining its Online Trading Facility and other related systems updated; therefore, the Client accepts that the Company or a relevant third party may, from time to time, perform maintenance that may include shutting down, restarting, or refreshing the servers to ensure the effective and efficient operation of the Online Trading Facility or other related systems; these actions may cause the trading(s) or other related systems to be inaccessible for a period of time. The Client accepts that the Company bears no responsibility for any loss, including financial loss, caused due to any of the above.
- 9.4 The Client accepts that the Company is not an internet service or electricity provider; consequently, the former accepts that the Company is not responsible for any failure to provide an investment or ancillary service, if such failure arises as a direct or an indirect result of an internet service or electricity failure. Accordingly, any Instruction sent by the Client or on the Client’s behalf via Company’s Online Trading Facility or by e-mail shall only be deemed to have been received and shall only then constitute a valid Instruction and/or binding Contract between the Client and the Company, when such Instruction has been recorded as executed by the Company or on Company’s behalf shall not by itself constitute a binding Contract between the Client and the Company.
- 9.5 The Client accepts that when using Company’s Online Trading Facility, the Client must:
- 9.5.1 ensure that his or her computer systems are maintained in good order and are suitable for use with Company’s Online Trading Facility;
- 9.5.2 run such tests and provide such information to the Company as the Company shall reasonably consider necessary to establish that the Client’s computer systems satisfy the requirements notified by the Company to the Client from time to time;
- 9.5.3 carry out virus checks on a regular basis;
- 9.5.4 inform the Company immediately of any unauthorized Transaction or Instruction which the Client knows of or suspect and, if within the Client’s control, cause such unauthorized use to cease; and
- 9.5.5 not at any time leave the computer terminal from which the Client has accessed Company’s Online Trading Facility or let anyone else use such computer terminal until the Client has logged off from Company’s Online Trading Facility.
- 9.6 The Client shall regularly consult the “Help” menus, User Guides or any other manuals provided via Company’s Online Trading Facility.
- 9.7 The Client understands and agrees that the Company is the sole counterparty in relation to the platform providers, and therefore the Client will not bring any legal action, whether or not, including negligence, breach of contract or otherwise, to any third-party software and/or technology providers whose products and services assist in providing the platform to the Client.
10. Trading Platform
- 10.1 The Company enables Clients to trade CFDs via its Website ‘WebTrader’ (if applicable), the Meta Trader 5 Trading Platform (MT5), and/or Mobile (Android & iOS operating systems)
- 10.2 The Client shall download and install the Trading Platform form the Company’s Website, and use it solely for the purpose of obtaining the services set out in the Agreement, all in accordance with and subject to the terms of this Agreement.
- 10.3 The Company makes no express or implied representation:
- 10.3.1 that the Trading Platform will be available for access all the time, or at any time on a continuous uninterrupted basis (access to the Trading Platform may be affected, for example, by routine maintenance, repairs and upgrades);
- 10.3.2 as to the operation, quality or functionality of the Trading Platform;
- 10.3.3 that the Trading Platform will be free of errors or defects; and
- 10.3.4 that the Trading Platform is free from viruses or anything else that has contaminating or destructive properties including where such results in loss of or corruption to the Client’s data or other property.
- 10.4 The Client agrees not to either intentionally, recklessly, negligently or otherwise:
- 10.4.1 use the Trading Platform for unlawful purposes or in any manner that breaches the terms of this Agreement;
- 10.4.2 interfere (nor attempt to) with or disrupt the proper operation of the Trading Platform, hardware, systems or networks, including (but not limited to) knowingly or negligently transmitting files that may contain malicious content capable of interfering in any way with the operation of the Trading Platform;
- 10.4.3 take any action which does or may cause the provision of the Trading Platform to other users to be interrupted or degraded.
- 10.5 The Company reserves the right to disable the Expert Advisors option from trading accounts with zero funds if that causes an overload of our server. When trading accounts are funded, the client may request to enable EA option.
- 10.6 From time to time, acting reasonably, the Company shall have the right to add to, modify, or remove any of the Trading Platform(s) without liability under this Agreement. The Client agrees to accept such modification(s) as part of this Agreement.
- 10.7 The Client agrees that the Company shall have the right to perform Trading Platform routing maintenance and upgrades every Sunday between 19:00 and 20:30 server time (GMT+3), but not limited to, in emergency cases, with an expected downtime between 1 (one) to 20 (twenty) minutes. During the downtime the Client won’t be able to access the Trading Platform, open new positions, close existing positions, transfer funds, and/or any other related actions as specified in the Client’s secure members area, and the Client shall be solely responsible to ensure that he/she has sufficient margin to support his/her open positions during the downtime. The Company will not be responsible for any loss arising due to stop loss, stop-out, and/or any other type of order resulted by a market gap.
11. Security, Authenticity and Access
- 11.1 The Client shall be solely responsible for any instructions sent and/or received through the Online Trading Facility from the Client.
- 11.2 The Client shall ensure that his/her Access Codes remain confidential at all times. If, under any circumstances, the Client reveals the Access Codes to either natural or legal person, the Company shall bear no responsibility for any loss that arises, including but not limited to financial loss, as result of the Client’s actions. Without prejudice to any other provisions of these Terms and Conditions, the Client will be liable for all Transactions and/or Contracts executed by means of his/her Access Codes, even if such may be wrongful.
- 11.3 The Client shall immediately inform the Company if it comes to his/her attention that the Access Codes have been used, either for trading or other purposes, without his/her express consent. The Client accepts that the Company is unable to identify any instances when a person, is logging-in to the Online Trading Facility without the Client’s express consent.
- 11.4 The Client accepts that the Company bears no responsibility if either a natural or legal person attains through unauthorized access any information, including information regarding Client’s trading, whilst such information is being transmitted from the Client to the Company (or any other party authorized by the Company) and vice versa; such transmission may either occur through electronic means or other.
- 11.5 The Client accepts that the Company bears no responsibility for any loss, including but not limited financial loss, incurred by the Client due to inability of the latter to access the Online Trading Facility if this has been caused:
- 11.5.1 due to the Client’s failure to maintain the Software updated as required or
- 11.5.2 due to any mechanical, software, computer, telecommunications or electronic system failure that could have been controlled by either the Client or the Company.
- 11.5.3 Internet failure
- 11.6 The Client accepts that the Company reserves the right to terminate Client’s access to the Online Trading Facility in order to ensure and/or restore the orderly operation of the Online Trading Facility and protect the interests of both the Clients and the Company; under such circumstances the Company may, at its discretion, close any of the Client’s Trading Account(s), in compliance with the Termination and Default section of the Agreement.
- 11.7 The Client understands that the Company has the right to block his/her Account, if the Company, in its sole discretion, deems such action as necessary, in compliance with the Termination and Default section of the Agreement.
12. Instructions and Orders
- 12.1 The Company shall accept instructions that have been transmitted by the Client only through the Online Trading Facility or other electronic means and manner accepted by the Company.
- 12.2 The Company is under no obligation to monitor Client’s trading or funding activity; therefore, the Company may execute an instruction received from the Client without any further inquiry even if such instruction is not in Client’s best interest.
- 12.3 The Company, at its sole discretion may confirm instruction(s) received from the Client, if the Company deems that to be necessary, via any means.
- 12.4 A Client may cancel Limit Order(s) and/or Pending Order(s) only before such Order(s) has been executed via MT5. Clients cannot cancel Limit Order(s) and/or Pending Order(s) when the relevant Market is closed. Client’s instructions might be cancelled only if the Company has not acted upon those instructions. The Company reserves the right, at its sole discretion, to refuse and/or decline any Pending Order if the Client Account Equity does not have the necessary Margin at the time the order is placed based on current market price. The Company has no liability for any claims, losses, damages, costs or expenses, including legal fees, arising directly or indirectly out of the failure of such order to be cancelled and/or refused and/or declined.
- 12.5 The Client accepts that once a Market Order(s) is/are placed, it/they cannot be revoked. The Client is aware that the Company is under no obligation to cancel Market Order.
13. Refusal to Execute Orders
- 13.1 The Client accepts that the Company shall have the right, at any time, to refuse as its discretion the provision of any investment or ancillary service, including, but not limited to, the execution of instructions for the purpose of trading in Cryptocurrencies or other financial instrument(s), without providing notice to the Client.
- 13.2 The Company shall refuse to execute order(s) if it has reasonable grounds to believe that the execution of a Client’s order may:
- 13.2.1 affect the orderly function of the market
- 13.2.2 constitutes an abusive exploitation of privileged confidential information
- 13.2.3 contributes to the laundering of illegal funds
- 13.2.4 affects in any manner the reliability or orderly operation of the Online Trading Facility
- 13.2.5 the Client’s order related to the purchase of a Cryptocurrency or other financial instrument but there is insufficient free margin in the relevant trading account to cover such purchase and any applicable charges.
- 13.2.6 abuse the negative balance protection either by placing instantly buy and sell market or pending orders in the same account or multiple accounts
- 13.2.7 constitutes an abusive exploitation of prices
- 13.3 The Company reserves the right to refuse the execution of pending orders, modify the opening/closing price of open positions, place a specific instrument to close only mode, and/or close an open order and nullify all profits if a technical or other error occurs without any prior notice.
- 13.4 The Client accepts that if the Company was to refuse the execution of Client’s order(s), under the Refusal to Execute Orders section, the obligations of the Client under the Agreement shall remain unaffected.
14. General Trading Conditions
- 14.1 Only the Client or the Authorized Representative is authorized to give instructions and Orders on the Account (in compliance with Instructions and Orders section of the Agreement).
- 14.2 Market Hours It should be noted that trading of certain Cryptocurrencies and other Financial Instruments occurs during specific time frames which are provided on the Company’s Website under Trading Instruments and Conditions. The Company reserves the right to change the market hours on a specific instrument without any prior notice if:
- - The Company’s price sources (Liquidity Providers) amended market hours
- - There is not enough liquidity in the market
- 14.3 Price
- 14.3.1 Bid – Ask Spread: For any given Cryptocurrency or other Financial Instrument, the Company will quote two prices: the higher price ASK at which the Client can buy (go long) that Financial Instrument, and the lower price (BID) at which the Client can sell (go short) that Financial Instrument; collectively they are referred to as the Company’s price. The difference between the lower and the higher price of a given Financial Instrument is the spread.
- 14.3.2 The Client hereby agrees that the Company’s prices shall be the only relevant prices for the Client’s Orders and Transactions.
- 14.3.3 The Client acknowledges and agrees that the Company is under no obligation to quote any specific price which is quoted in a specific Crypto Exchange or other Financial Markets.
- 14.3.4 Any references of the Client to prices of other trading or information systems or of other Clients shall be disregarded. The Company has the right at its sole discretion to increase or decrease spreads on Cryptocurrencies and other Financial Instruments depending on market conditions and Client’s risk internal risk categorization profile. The Client acknowledges that events such as changes in the Financial Markets, hard forks, news announcements, political and economic events or periods of low/high liquidity may result in wider spreads. The Client acknowledges and agrees that Spreads may widen at any time and without prior notice and that there is no limit to how wide Spreads may be.
- 14.4 Orders Execution Policy
- 14.4.1 The Company shall receive, execute and transmit all Orders strictly in accordance with the Trading Conditions. The Company will have no responsibility for checking the accuracy or the logic of any Order.
- 14.4.2 The Company has the right to refuse to execute the order in compliance with the Refusal to Execute Orders section of the Agreement.
- 14.4.3 Types of OrdersThe Company shall provide the Client with an option to place, following order types:
- 14.4.3.1 A Market Order which is an order that the Company makes every effort to execute at the best available price. All orders are matched through the Company’s order book (Depth of Market), which is visible in the clients’ trading terminal before entering the market. The final price is based on the weighted average price through the layers depending on the size of the order. More information is provided in the Company’s website under Trading section.
- 14.4.3.2 A Limit Order which is an order to sell a financial instrument at no less than a specific price or buy a financial instrument at no more than a specific price. The Client may attach a stop loss and/or a take profit before the order is executed. Once the order is executed it automatically becomes a Market Order and same conditions apply as Market Order.
- 14.4.3.3 A Pending Order or an Entry Order which is an order to be executed at a later time and a price that the Client specifies. When the price reaches the price specified by the Client, then the order becomes a market order. Negative and positive slippage applies to pending orders. The Client has the option to place the following pending or entry orders:
- i. A Buy Limit Order, which is a pending or entry buy order placed below the current market price. If the market price drops to the level of the buy order that order is then triggered.
- ii. A Buy Stop Order, which is a pending or entry buy order placed above the current market price. If the market price rises to the level of the buy order that order is then triggered.
- iii. A Sell Limit Order, which is a pending or entry sell order placed above the current market price. If the market price rises to the level of the sell order that order is then triggered.
- iv. A Sell Stop Order, which is a pending or entry sell order placed below the current market price. If the market price drops to the level of the sell order that order is then triggered.
- v. A Buy Stop Limit order which is the combination of Buy Limit and Buy Stop orders, being a stop order to place a Buy Limit order. As soon as the future Ask price reaches the stop-level indicated in the order (the Price field), a Buy Limit order will be placed at the level, specified in Stop Limit price field. A stop level is set above the current Ask price, while Stop Limit price is set below the stop level.
- 14.4.3.4 A Trailing Stop Order which is a stop loss order set in terms of points (pips) level below the market price – for a long position and above the market price – for a short position. The trailing stop price is adjusted as the price fluctuates.
- 14.4.4 Such orders as Buy Limit, Buy Stop and Stop Loss/ Take Profit for opened short positions are executed as ASK price. Such orders as Sell Limit, Sell Stop and Stop Loss/Take Profit for opened long position are executed at BID price. All orders once triggered are executed as Market Orders at the best available market price.
- 14.5 Size of Order:
- 14.5.1 The size of an Order is expressed in lots. The minimum and the maximum order size may depend on the account type and/or asset class and/or particular financial instrument. The Company reserves the right to alter the minimum and/or maximum order size at any given time. A detailed information regarding available order sizes can be found on the Company’s Website.
- 14.6 Costs
- 14.6.1 The Client is charged a spread, financing/premium or commission, if applicable, in some Cryptocurrencies and other Financial Instrument. Commissions and Financing are not incorporated into the Company’s quoted prices but charged separately. A detailed information regarding costs is provided in the Company’s website under trading section.
- 14.7 Upon closing a Transaction, and subject to any applicable adjustments for interest and dividends in accordance with this Agreement:
- 14.7.1 TA) The Company will pay the Client the difference between the price in which the Transaction was opened and the price in which the Transaction was closed, multiplied by the number of units of the Underlying Instrument that comprise the Transaction if the Transaction is:
- i. a buy Transaction and the Transaction’s closing price is higher than its opening price; or
- ii. a sell Transaction and the Transaction’s closing price is lower than its opening price; and
- 14.7.2 The Client will pay the Company the difference between the price in which the Transaction was opened and the price in which the Transaction was closed, multiplied by the number of units of the Underlying Instrument that comprise the Transaction if the Transaction is:
- i. a buy Transaction and the Transaction’s closing price is lower than its opening price; or
- ii. a sell Transaction and the Transaction’s closing price is higher than its opening price.
- 14.7.1 TA) The Company will pay the Client the difference between the price in which the Transaction was opened and the price in which the Transaction was closed, multiplied by the number of units of the Underlying Instrument that comprise the Transaction if the Transaction is:
- 14.8 Margin Call
- 14.8.1 A Margin Call occurs when the Account’s equity is about to drop below the margin requirement needed to maintain open Transaction(s). The Margin Call is set at the 150% equity-to-margin ratio. If the equity-to-margin ratio shall continue to drop, a Stop-out may occur.
- 14.9 Stop-out
- 14.9.1 A stop-out Occurs when the account’s equity drops below the margin requirement needed to maintain open Transaction(s). If the equity continues to drop, reaching 100% equity-to-margin ratio, MT5 will automatically start closing open positions (starting with those with the highest losses) to prevent zeroing out of the account. The Client should note that a Stop-out may occur even if the Account is fully hedged. When an account is fully hedged, the equity is affected by the floating PnL. If the spread widens, the floating PnL will increase. In this case, if floating PnL > equity, account will get stopped out.
- 14.9.2 When you open a position utilizing all of your funds it means that your margin level % will be near to 100%, which is the Stop out level % set by the Company. The Trading Platform cannot take under consideration the cost of spread before initiating the position, therefore, when the position is opened, and spread is taken into consideration your account margin level % may be equal or drop below 100% causing the stop out to trigger. You are solely responsible to ensure you have sufficient funds before entering into a position.
- 14.10 It is the Company’s policy that the Client's Balance in the Account will never fall below zero. In the event that a Position is closed at such price causing the Equity to fall below zero, the Company shall waive its right to receive the balance from the Client (Negative Balance Protection).
- 14.11 Slippage
- 14.11.1 Due to fast moving markets, all type of Orders as disclosed in the General Trading Conditions section of the Agreement will be executed at prices worse or better due to Negative or Positive Slippage, although the Company will take all reasonable steps to provide Clients the best available price.It is important to note that Slippage does not affect the Negative Balance Protection and therefore the Client will never lose more than the amount invested (including any profit, if gained), even if a slippage occurs. In addition, transactions in some instruments which are not traded on a 24 hours basis, may experience a Market Gap on a daily basis and are therefore more susceptible to slippage.
- 14.12 Market Gap
- The Client understands that a Market Gap may occur due to abnormal market conditions and/or as a result of the price difference between the closing and opening price. In case of a Market Gap, the Company shall execute all pending limit or stop orders at the first available market price for the corresponding position size.
- 14.12.1 Suspension
- i. If at any time trading on a relevant Financial Market or trading in a certain Underlying Asset is suspended, the Company shall suspend the trading in the CFD Transactions based on such Underlying Asset and calculate the value of the CFD with reference to the last traded price before the time of suspension, as reasonably determined by the Company. In the event that the aforesaid suspension continues for five Business Days, the Company may decide, at its sole and absolute discretion, a Closing Time and price of the relevant CFD. During the term of a CFD Transaction whose market is suspended, the Company shall have the right to terminate the CFD Transaction at its discretion, and to amend or vary the requirements.
- 14.12.2 Trading Termination
- i. If an Underlying Asset has ceased (or will cease) to be listed, traded or publicly quoted for any reason and is not immediately re-listed, re-traded or re-quoted on the relevant Financial Market or quotation system (including in the event of any insolvency of a company whose shares constitute an Underlying Asset), the Closing Time of the relevant CFD shall be a reasonable time prior to such time in which the Underlying Asset will cease to be listed, traded or publicly quoted and the Company shall close all the relevant Transactions at the Closing Time.
15. Order Adjustments
- 15.1 The Company reserves the right to suspend, close or unwind any Order/s which has resulted from any miss-configuration, technical error, bad pricing, and/or if the Company suspects any fraud, manipulation, arbitrage or other forms of deceitful or fraudulent activity in a Client’s account or multiple accounts with the Company or otherwise related or connected to any other Orders. Under such circumstances, the Company shall be entitled to withdraw any profits and charge any costs which it deems, in its sole discretion, to have been inappropriately gained and shall not be liable for the cancellation of any order or profits or in the event of any damages or losses which may result from the suspension, closure or unwinding.
- 15.2 After a concluded and endorsed investigation that was carried out on behalf of a Client, if an order or multiple orders were executed at a loss due to system miss-configuration, technical error, and/or bad pricing, the Company will take all necessary actions to restore such a loss accordingly.
- 15.3 In the event of clause 15.1.2, the Client agrees that he/her can not claim any additional refund if the market order or market orders affected would have had a positive outcome if assumed open.
- 15.4 Order Adjustment Procedure
- 15.5 All order/s adjustments shall be performed with a balance correction equivalent to the amount resulted after the investigation was carried out and shall be reflected in the Client’s account Balance.
- 15.6 In the case where a market order or multiple market orders executed at a bad price, the Company reserves the right to compensate the Client only with the price difference between the bad price and the actual market price at the moment of occurrence. In the event where a pending order or multiple pending orders triggered at a bad price, the Company shall cancel such order/s, and compensate the client the entire amount.
- 15.7 The Client agrees that the Company will not at any case restore any closed orders as to comply with the laws and regulations of proper record keeping of Clients’ transaction history.
16. Client Money
- 16.1 The Company will exercise reasonable skill, care and diligence in the selection, appointment and periodic review of the institution/s where Client’s funds are deposited. The Company takes into account the credit rating of the institution prior depositing Client Money with the said institution. The Company takes reasonable steps to periodically monitor the credit risk of that institution. The Company may use multiple institutions to ensure diversification and allocate internal percentage limits for each institution. It should be noted, that segregated accounts(s) will be established, maintained and operated.
- 16.2 The Client acknowledges and agrees that unless otherwise agreed in writing, any funds in the Client’s Account shall be held in an account or accounts maintained by, and in the name of, the Company and at Account/s of the Company’s choice and that the assets in the Client’s Account shall be commingled with the assets of other customers of the Company (omnibus accounts).
- 16.3 The Company shall not be liable for any losses that the Client may incur due to insolvency or any other analogous proceedings or failure of the financial institute or payment service provider in which Client’s funds are held. The financial institution to which the Company will process Client Cryptocurrencies may hold it in an omnibus account. Hence, in the event of the insolvency or any other analogous proceedings in relation to that financial institution, the Company may only have an unsecured claim against the financial institution on behalf of the Client, and the Client will be exposed to the risk that the money received by the Company from the financial institution is insufficient to satisfy the claims of the Client.
- 16.4 The Company is not obliged to pay any interest to the Client for the funds deposited. The Client hereby waives any entitlement to any such interest.
- 16.5 Any transfers shall only be given when Company’s system have debited and/or credited the funds to the relevant Account and the Company cannot guarantee how long this would take. The Company will use reasonable efforts to ensure such transfers, however the Company cannot be liable for any delays or other losses that may occur if, for instance, wrong or incomplete information has been provided.
- 16.6 The Client Accepts that any funds shall be deposited into his/her Account when received, net of any transfer fees or other charges incurred by the Company by the institution (or intermediary) involved in the process, that holds the funds or otherwise occur, unless there is an ongoing promotion posted in the Company’s website. The Company shall not be held liable for any delay, where the cause of such delay is not within the control of the Company.
- 16.7 The Client hereby irrevocably authorizes the Company to:
- 16.7.1 Credit the Client’s Account for all deposits, realized Profits, dividends (in long Positions), Financing/Premium every 4 (Four) hours; and
- 16.7.2 Debit the Client’s Account for all withdrawals, realized losses, dividends (in short positions) and Financing/Premium and Fees; and
- 16.7.3 Make any other adjustment in the Client’s Account as the Company may deem necessary in its sole discretion, acting reasonably and in accordance with the terms of this Agreement.
- 16.8 Deposits and Transfers
- 16.8.1 All deposits are made to the designated wallets and shall be made in accordance with Payment instructions set forth on the Company’s Website and the Client’s personal area.
- 16.8.2 All deposits/transfers from wallets into the trading account/s shall be made in accordance with transfer instructions set forth on the Company’s Website and the Client’s personal area.
- 16.8.3 The Client acknowledges that the Company cannot be held liable for how much time it takes to send funds to the Company and the time the Company shall receive the funds. It is solely depending on blockchain, and/or third-party providers.
- 16.8.4 Third-Party Deposits
The Company accepts no deposits from any Third Parties. In case of Third-Party Deposits:
- 16.8.4.1 the Company reserves the right to immediately freeze such transactions.
- 16.8.4.2 the Client acknowledges and agrees that the Company cannot be held liable for any loss, damage or expense of any kind which the Client may suffer as a result of such cases.
- 16.9 Withdrawals and Transfers
- 16.9.1 The Client agrees that he/she is solely responsible for the payment details he/she is providing us with, and the Company does not accept any responsibility for Client’s funds, if the payment details provided by the Client are incorrect or incomplete.
- 16.9.2 All withdrawals from Wallets shall be made in accordance with Payment instructions set forth on the Company’s Website and the Client’s personal area.
- 16.9.3 The Company may, based on its discretion, choose to ask for initial or additional KYC documentation from the client when withdrawal requests are more than the equivalent of 1,000 USD. Furthermore, the Company has the right to ask for initial or additional KYC documentation from any client at any given time. If KYC documents are not provided within 14 days of request, then the Company reserves the right to reject the withdrawal request.
- 16.9.4 In addition, any form of withdrawal the Client initiates is subject to all identification documents as well as forms (KYC/AML) which the Client has to deliver to the Company and following the discretion of the Company, it shall make its best effort to carry out such instructions.. Withdrawals shall be made according to the procedures and Company’s policies and can take up to 24 working hours to be processed. If the Client wishes to cancel withdrawal request in any case, the Client is free to do so, but on the basis that the withdrawal had not been executed already. If the Client initiates withdrawal without taking into account all relevant fees and commission, the Company reserves the right to cancel the request and apply all relevant commissions and fees, prior to the client being able to initiate new withdrawal request.
- 16.9.5 All withdrawals/transfers from trading account/s shall be made in accordance with withdrawal instructions set forth on the Company’s Website and the Client’s personal area and the Client acknowledges and agrees that the Company cannot be held liable for any loss, damage or expense of any kind which the Client may suffer as a result of such transfers.
- 16.9.6 Eligibility
- Withdrawals are available to Clients who:
- 16.9.6.1 have deposited funds in their wallet and trading account/s
- 16.9.6.2 have provided the Company with all necessary Verification Documents requested to the Company’s satisfaction.
- 16.9.6.3 the funds requested are not a result of actions that violate the terms and conditions of this agreement have no open Transaction(s) in the Trading Account they wish to withdraw/transfer out the money from or have open Transaction(s) but will have at least 200% margin level remaining in the Account after the requested amount will be withdrawn/transferred out.
- 16.9.7 Procedure
- 16.9.7.1 Eligible Client shall place a withdrawal request via his/her Online Trading Facility.
- 16.9.7.2 The Client understands and agrees that if the Client has used multiple sources to deposit funds, the Company will use the source specified by the Client at the moment the Withdrawal was requested.
- 16.9.8 Time Restrains
- 16.9.8.1 Upon receiving Client’s request, the Company shall proceed with the payment of a specified amount within the same day or depending on the time the withdrawal request has been received the latest the next working day (however, the time needed for the funds to reach the Client may vary, depending on Client’s selected payment method). However, if any of Client’s documents are not up-to-date, the Company shall request new, updated version of such document(s), which may significantly delay the withdrawal process.
- 16.9 Dormant Fees
- 16.9.1 In the event that there is no activity (trading) in Client’s trading account(s) for a continuous period of 90 (ninety) calendar days and the account has available Balance, such trading account/s will be considered to be dormant. An Account is considered dormant on the last day of the 90 (ninety) day period any remaining credit lines will be automatically removed from the Dormant Account. Any pending orders may also be deleted.
- 16.9.2 Dormant Accounts will be charged with a monthly dormant fee of USD 10 (or the equivalent in the Account Currency) or the full amount of the free balance if the balance is less than USD 10. There will be no fee if the free balance is in the Account is zero.
- 16.9.3 The Client who under one user name has more than one Trading Account, will be charged a dormant fee on each account separately, if relevant accounts are considered to be dormant.
17. Costs, Fees and Charges
- 17.1 Prior to trading, the Client needs to consider applicable costs, fees and charges. The Client is solely responsible for requesting clarification from the Company in relation to the above, if necessary.
- 17.2 The Client should note that not all charges are represented in monetary, cryptocurrency or percentage terms and may appear, for instance, in pips or points. For that reason, the Client needs to ensure that he/she understands the cost that the pip/points amount to.
- 17.3 The Company reserves the right to change, from time to time, any of the costs, fees and charges applicable to Clients when trading Cryptocurrencies and other Financial Instruments without prior notice. It must be noted that such changes are performed by the Company’s liquidity providers and the Company has no control over it.
- 17.4 The Client agrees that any applicable charges shall be deducted from his/her trading Account.
- 17.5 The provision of services by the Company is subject to the payment of costs, fees etc. (the Costs). In addition to those Costs, other costs may be due by Clients directly to third parties. Changes to its costs will be notified to Clients by the Company through the website.
- 17.6 Spread and mark-up
- 17.6.1 Spread, a difference between the BUY and the SELL price, varies between different Cryptocurrencies and other Financial Instruments; its size depends on the Order size/volume as disclosed in the website and trading terminal.
- 17.6.2 The Client understands that the Company offers floating spread that may, without any notice, widen at any time.
- 17.6.3 The applicable Spreads (which include Company’s mark-up, if applicable) can be found on the Company’s Website.
- 17.7 Commissions
- 17.7.1 From time to time the Company may introduce new accounts with a commission fee structure.
- 17.8 Overnight Financing (Premium)
- 17.8.1 The Financing is an interest payment that applies if you hold a sell or a buy position for a certain period of time. It is based on the value of the contract and it is calculated every 4 hours for Cryptocurrencies and daily for Forex and Indices. Please be aware positions that remain open for an extended period of time (usually > 3- 5 days), the venue/liquidity provider your order/s executed may apply higher Financing rates which is beyond the Company’s control.
- 17.8.2 Financing is charged in the form of points (points), percentage terms or monetary terms depending on the financial instrument, which are based on liquidity provider’s rates which may vary from time to time. Financing charges can be found in the Company’s website.
- 17.8.3 Depending on the position held and the interest rate of the currency involved in the Transaction, the Client may be either credited or debited with financing.
- 17.8.4 The Company has the right to change the Financing rates at any given time without any notice.
- 17.8.5 Triple Financing apply on Wednesdays or Fridays (depending on the instrument traded – details are provided on the Companies’ Website).
- 17.8.6 During times where Financing is charged, Clients may experience slight delay in execution and/or significant slippage.
- 17.9 17.9 Dormant Fees
- 17.9.1 In the event that there is no activity (no trading activity as defined in section 28.56) in the Client’s trading account(s) for a continuous period of 90 (ninety) calendar days, or where there is no activity from the Client in the Client’s eWallets for a continuous period of 90 (ninety) calendar days (inactive eWallets), such trading account and eWallet will be considered to be dormant. An Account or an eWallet is considered dormant on the last day of the 90 (ninety) day period any remaining credit lines will be automatically removed from the Dormant Account. Pending orders will not be deleted in that event.
- 17.9.2 After 90 (ninety) days of inactivity, the account will be designated as Dormant, and the following fees will be applicable:
- a. For eWallets, a fee of USD 250 (two hundred fifty US Dollars) (or the equivalent in the Account Currency) will be charged during the first month after the 90 (ninety) days of the inactivity of the trading account. Following the first month of inactivity, and for every subsequent period of 30 (thirty) days of inactivity, a monthly fee of USD 100 (one hundred US Dollars) will be charged or the full amount of the free balance if such a balance is less than USD 100 until the balance reaches zero. No fee will be charged if the free balance is zero.
- b. For Trading Accounts, a fee of USD 50 (fifty US Dollars) (or the equivalent in the Account Currency) will be charged during the first month after the 90 (ninety) days of the inactivity of the trading account. Following the first month of inactivity, and for every subsequent period of 30 (thirty) days of inactivity, a monthly fee of USD 20 (twenty US Dollars) will be charged or the full amount of the free balance if such a balance is less than USD 20 until the balance reaches zero. No fee will be charged if the free balance is zero.
- 17.9.3 The Client who under one user name has more than one Trading Account and/or eWallet, will be charged a dormant fee on each account and/or eWallet separately, if relevant accounts or eWallets are considered to be dormant as per the above
- 17.10 Transfer/Deposit Fees
- 17.10.1 Commission might be charged by certain payment providers, however under no circumstance the commission for deposit(s) or a withdrawal(s) is charged by the Company, unless the Company decides to cover such expenses. Such actions will be announced in the Company’s Website.
- 17.10.2 Information regarding the commission charged by the payment providers can be found on the Company’s Website.
18. Taxation
- 18.1 The Client should take the risk that his trades in Cryptocurrencies and other Financial Instruments may be or become subject to tax and/or any other duty for example because of changes in legislation or his personal circumstances. The Company does not warrant that no tax and/or any other stamp duty will be payable. The Client should be responsible for any Taxes and/or any other duty which may accrue in respect of his trades.
- 18.2 In the event that a taxation occurs as a result of any regulatory or legal obligation which may oblige the Company to make any payments and/or withhold any amounts for taxation purpose, then the Company reserves the right to deduct such amounts of any such payment(s) from any of the account(s) belonging to the Client or request that you reimburse the Company accordingly.
- 18.3 The Client understands and accepts that the tax treatment and/or any disclosures and/or any withholdings may vary depending on Client’s jurisdiction.
19. Communication and Record Keeping
- 19.1 Unless specifically instructed otherwise any notice, instruction, request or other communication shall be given by the Client to the Company via the registered e-mail of the Client, by telephone (so long as the Company is able to identify the Client) or in writing to the registered address of the Company, or as specifically stated herein. All contact details can be found at the Company’s Website.
- 19.2 The Privacy Policy forms part of Company’s Terms and Conditions of Use and is incorporated therein by reference. Therefore, by agreeing to Company’s Terms and Conditions of Use, which are a contractually binding agreement between the Client and the Company, the Client is also agreeing to the terms of the Privacy Policy.
- 19.3 The Company may contact the Client via e-mail (send to Client’s registered e-mail address), telephone, post (if the Company in its sole discretion deems it as necessary) or by portraying a message in Clients Members Area and/or Trading Platform (‘Online Trading Facility’).
- 19.4 The Client agrees that he/she is fully responsible for reading any messages received from the Company on his/her Online Trading Facility or via any other means.
- 19.5 The Company bears no liability for any loss that arises as a result of delayed or unreceived communication sent to the Client by the Company.
- 19.6 The Client if fully responsible for the privacy of any information received form the Company.
- 19.7 The Client hereby authorizes the Company to contact him/her directly and/or indirectly.
- 19.8 The content of all incoming and outgoing telephone calls (Telephone Records) between the Client and the Company may be recorded. The Client agrees that the Company has the right to use telephone Records as it deems necessary, including but not limited to instances when a dispute arises between the Client and the Company.
- 19.9 The Company may provide copies of Telephone Recordings to a regulatory authority and/or other authority of a competent authority, without informing the Client. The Company shall have no obligation to provide any such copy to the Client.
- 19.10 The Client agrees that the Company will also record any other communication between the Client and the Company, in any form, including e-mails and chat messages.
- 19.11 The Client is obliged to keep any information with regards to his/her relationship with the Company confidential at all times.
20. Confidentiality and Data Protection
- 20.1 When dealing with the Client’s information, the Company shall act in accordance with the terms of its Privacy Policy, which is in compliance with the relevant Laws and Regulations for the protection of personal data.
- 20.2 The Privacy Policy forms part of Company’s Terms and Conditions of Use and is incorporated therein by reference. Therefore, by agreeing to Company’s Terms and Conditions of Use, which are a contractually binding agreement between the Client and the Company, the Client is also agreeing to the terms of the Privacy Policy.
- 20.3 All informational material collected on this website is held by the Company in the strictest confidence. The Company considers one of its highest priorities to be the privacy and integrity of the personal information of its Clients, and devotes the maximum amount of attention to keeping the said information safely stored as well as used appropriately and only with the required authorization. Any and all of the information that is received from the Client is handled with care and an appropriate level of confidentiality.
- 20.4 By entering this Agreement, the Client herby provides his/her consent to collect, process and/or otherwise deal with all data provided by the Client including any data which is considered sensitive without any further requirement to consent.
- 20.5 Prior to entering into the Agreement, the potential Client receives the right to object to the disclosure of personal data. If the Client does not consent to the disclosure of personal data, the Company reserves the right to refuse entry into the Agreement and/or any other Agreement and/or the provision of the services to the potential Client.
- 20.6 The Client may at any time withdraw his/her consent, nonetheless the Client understands and accepts that if he/she chooses to withdraw his/her consent, the Company shall have the right to immediately terminate the Agreement and/or services provided. Such request shall be provided to the Company in writing via Client’s registered e-mail address.
- 20.7 The Company shall use reasonable endeavors to keep Client’s personal data safe; nonetheless, transmission of information via the Internet and/or technology systems is not always completely secure. Any transmission of the Client’s data shall be at Client’s own risk and the Company shall have no liability whatsoever.
- 20.8 The Client understands and accepts that the Company will keep any and all information belonging and/or relation to the Client in accordance with any applicable statutory minimum.
21. Acknowledgments of Risks
- 21.1 Trading carries a significant risk to Client’s investment and may not be suitable for all investors.
- 21.2 The Company does not and cannot guarantee the initial capital of the Clients’ portfolio or its value at any time or any money invested in any financial instrument. The Client should unreservedly acknowledge and accept that, regardless of any information which may be offered by the Company, the value of any investment in Cryptocurrencies and other Financial Instruments may fluctuate downwards or upwards and it is even probable that the investment may become of no value.
- 21.3 The Client should unreservedly acknowledge and accept that he/she runs a great risk of incurring losses and damages as a result of the purchase and/or sale of any Financial Instrument and the Client hereby accepts and declares that he/she is willing to undertake this risk.
- 21.4 The Client should not engage in any investment directly or indirectly in Cryptocurrencies and other Financial Instruments unless he/she knows and understands the feature risks involved for each one of the Cryptocurrencies and other Financial Instruments.
- 21.5 If the Client is in any doubt as to the suitability of any investment he/she should seek independent expert advice.
- 21.6 The Company will take all measures possible to ensure that the information contained within the Company’s Website is as accurate as possible, however, the Company does not guarantee that the information contained on the Company’s Website is free of errors and as such all material contained on the Company’s Website is provided for informational purposes only and not as an investment objective/ advice. The Company advices that the Client shall seek independent advice, before acting on any of the information contained within the Company’s Website.
- 21.7 The Company will not be responsible for any loss arising from any investment that may have been based on any recommendation, forecast, or other information contained within the Company’s Website. The Company shall not bear liability to any subscriber, Client, partner, supplier, counterparty or third party for the information supplied through this Website, nor for any discontinuance of the service. The Company does not bear responsibility for the content of any website, be it linked to the Company’s Website or not, nor for any consequences incurred by acting on information of such said website(s). Consulting the Company’s Website does not make you a Client of the Company and no entity of the Company or person related to the Company shall have any duty or incur any liability or responsibility towards you as a result of you consulting the Company’s Website.
- 21.8 The Client declares that he/she has read and understands and unreservedly accepts the following:
- 21.8.1 Information of the previous performance of a Financial Instrument does not guarantee its current or future performance. The use of historical data does not constitute a binding or safe forecast as to the corresponding future performance of the Cryptocurrencies and other Financial Instruments to which the said information refers.
- 21.8.2 When a Financial Instrument is traded in a currency other than the currency of the Client’s country of residence, any changes in the exchange rates may have a negative effect on its value, price and performance.
- 21.8.3 A Financial Instrument on foreign markets may entail risks different to the usual risks of the markets in the Client’s country of residence. In some cases, these risks may be greater. The prospect of profit or loss from transactions on foreign markets is also affected by exchange rate fluctuations.
- 21.9 The Client acknowledges and accepts that there may be other risks which are not contained in this section of the Agreement.
- 21.10 The Company is obliged to reveal and explain risks involved in trading complex Cryptocurrencies and other Financial Instruments, such as CFDs and provide the Client with a Risk Disclosure Notice.
- 21.11 The Risk Disclosure Notice forms part of Company’s Terms and Conditions of Use and is incorporated therein by reference. Therefore, by agreeing to Company’s Terms and Conditions of Use, which are a contractually binding agreement between the Client and the Company, the Client is also agreeing to the terms of the Risk Disclosure Notice.
22. Bonus Policy
- 22.1 Definition of a trading bonus:
- 22.1.1 A trading bonus is an added value to your deposit and it provides you with more funds to use when you are trading. Trading bonuses comes in the form of a one-time added value to your deposit. When you fund your account, the Company matches your real money deposit by a certain amount of percentage in accordance to your deposit. Bonus percentage may vary, as it depends on Company’s promotion.
- 22.2 Warning
- 22.2.1 A trading bonus gives you great value and extra trading leverage. With all of the above being mentioned; when you trade with bonus leverage you need to be cautious. It is truly appealing, but there is a downside. You may close higher trades and make more money initially (or in the long run), but you can also lose a lot more money.
- 22.3 Abuse of Bonus
- Any indication or suspicion, in the Company’s reasonable discretion, of any form of arbitrage abusive or improper trading, attempted abuse or attempted improper trading fraud, manipulation, cash-back arbitrage connected to a trading bonus or any other form of deceitful or fraudulent activity (including but not limited to participant’s trading activity patterns that indicate that the participant solely aims to benefit financially from the credit trading bonus without being genuinely interested in trading in the markets and/or taking market risk), will nullify all previously credited trading bonuses of the Client’s eligible trading account\s with the Company and/or any and all transactions carried and/or profits or losses in that trading account\s. In addition, the Company reserves the right to exclude the Client from any other current and/or future Bonuses and/or Promotions offered by the Company. The Company shall not be liable for any consequences that give rise due to the Bonus’s cancellation, and/or alteration and/or suspension, including but not limited to, orders closure by stop out.
- By entering into this agreement, you automatically agree to the Promotional offers’ terms and conditions, which can by found in the Company’s Website.
23. Termination and Default
- 23.1 This Agreement shall take effect upon the Client accepting it on the Company’s Website and shall be valid for an indefinite period until its termination in accordance with the terms of this Agreement.
- 23.2 The Client reserves the right to cancel the Agreement within fourteen (14) days from the initiation of the business relationship with the Company, in compliance with the Commencement of the Terms and Conditions and the Right to Cancel section of the Agreement. The Client shall communicate such request to the Company in writing via e-mail send directly to the Company from the Client’s registered e-mail address. There are no prior notice requirements.
- 23.3 The Client reserves the right to terminate the Agreement at any time after the 14 days Period, for any reason or without a reason whatsoever, having provided the Company with a three (3) days written notice via e-mail send directly to the Company from the Client’s registered e-mail address.
- 23.4 The Client understands and agrees that prior to the cancelation or termination request, the Client shall ensure that all his/her transactions are closed (if applicable) and/or all his/her funds (if applicable) has been either refunded or withdrawn from Client’s Trading Account.
- 23.5 The Company reserves the right to terminate the Agreement during the Probation Period due to, inter alia, insufficient documentation received from the Client, providing the Client with a 24-hour notice.
- 23.5.1. Without prejudice to the above, the Company may, at its sole discretion and at any point limit Client’s access to the Company’s services and the Online Trading Facility
- 23.6 The Company reserves the right to terminate the Agreement at any time without any prior notice and with or without cause and for any reason whatsoever, including but not limited to if the Company has reasonable grounds to believe that:
- i. the Client had breached his/her representations and warranties,
- ii. the Client provided the Company with inaccurate, incomplete or false information or documents,
- iii. the Client’s Account constitutes or may constitute an Anti-Money
- iv. Laundering and Prevention of Terrorism Financing or other regulatory risk,
- v. the Client is abusing the Company’s Negative Balance Policy
- vi. the Client uses Online Trading Facility and/or gives Orders or enter into Transactions within the definition of market abuse or in any other abusive way, including lag trading and/or usage of server latency, price manipulation, time manipulation or any other practices which are illegal and/or are utilized to give the Client an unfair advantage or which the Company considers, at its sole discretion, as inappropriate and outside the scope of this Agreement and/or as unfair business conduct.
- vii. the Company did not receive the additional and/or updated information and/or documentation required within the time frame determined by the Company
- viii. the Client does not utilize and/or engages in any of the investment services the Company provides
- 23.6.1 Without prejudice to the above, the Company may place Client’s personal area and Trading Account/s to view only mode (trading disabled) any time and without any notice provided prior to the initiation of the Account Termination Procedure.
- 23.7.1 An issuance of an application, order, resolution or other announcement in relation to bankruptcy or winding-up or dissolution or cessation proceedings of the Client;
- 23.7.2 The Client either undertaking or deemed by the Company (in its absolute sole discretion) to be involved or attempting to undertake any arbitrage circumstances;
- 23.7.3 Such termination being required by any competent regulatory authority or body or we are obliged to do so by operation of Law.
- 23.7.4 The Client’s trading activity affects in any manner the reliability and/or smooth operation and/or order of the Company’s Online Trading Facility. The Client trading in such a way that may harm the Company’s ability to have and/or to provide an effective service.
- 23.7.5 In case that the Company deems whether on its own or through any of the Company’s Credit Institutions or Payment Provider/s reports that a specific transaction may be deemed to be fraudulent;
- 23.7.6 The Client fails or omits to disclose to the Company his/her capacity as the beneficial owner of more than one accounts being maintained with the Company and/or his/her capacity to act as a regulated money manager on behalf of any other Clients of the Company;
- 23.7.7 If the Company suspects that the Client is engaged into money laundering activities or terrorist financing or other criminal activities
- 23.7.8 The Client involves the Company in any type of fraud or illegality;
- 23.7.9 If any event of default (however described) occurs in relation to the Client under any other agreement between the Client and the Company.
- 23.8.1 Any amount that is due to the Company.
- 23.8.2 Any expenses that are incurred by the Company, as a result of the termination of the Agreement, and
- 23.8.3 Any damage that has arisen because of an arrangement settlement.
- 23.10.1 the Client had breached his/her representations and warranties,
- 23.10.2 the Client provided the Company with inaccurate, incomplete or false information or documents,
- 23.10.3 the Client’s Account constitutes or may constitute an Anti-Money
- 23.10.4 Laundering and Prevention of Terrorism Financing or other regulatory risk,- the Client is abusing the Company’s Negative Balance Policy
- 23.10.5 the Client uses Online Trading Facility and/or gives Orders or enter into Transactions within the definition of market abuse (as such term is defined in the Market Abuse Law )or in any other abusive way, including lag trading and/or usage of server latency, price manipulation, time manipulation or any other practices which are illegal and/or are utilized to give the Client an unfair advantage or which the Company considers, at its sole discretion, as inappropriate and outside the scope of this Agreement and/or as unfair business conduct.
- 23.10.6 the Company did not receive the additional and/or updated information and/or documentation required within the time frame determined by the Company
- 23.12.1 The Company reserves the right to Deactivate and Archive Client’s Account(s) if such Account(s) is/are qualified to be archived.
- 23.12.2 Accounts in which there is no remaining balance and there has been no trading activity for a period of 30 consecutive days will be considered by the Company as inactive. In such cases, the Company reserves the right to deactivate, delete any pending orders, remove any available credit and archive any such Account(s) without providing any notice to the Client. These accounts will not be revived and the Client will have to open a new account.
- 23.12.3 The Client hereby agrees and authorizes the Company to deactivate and archive his/her Account(s) if they said Account(s) has/have meet the criteria described in the paragraph 23.12.2 of the Agreement.
24. Force Majeure
- 24.1 The Company shall not be in breach of this Agreement and shall not be liable or have responsibility of any kind for any loss or damage incurred by the Client as a result of any total or partial failure, interruption or delay in the performance of this Agreement occasioned by any act of God, fire, war, civil, commotion, labor dispute, act of government, state, governmental or supranational body or authority, or any investment exchange and/or clearing house, inability to communicate with market makers for whatever reason, failure of any computer dealing system, any other breakdown or failure of transmission in communication facilities of whatever nature, between the Company and the Client or any third-party whatsoever, or any other reason (whether or not similar in kind to any of the above) beyond our reasonable control (a “Force Majeure Event”).
- 24.2 The Client acknowledges and agrees that the Company may in its reasonable opinion, determine that a Force Majeure Event exists or is about to occur; as the case may be, we will inform you as reasonable practicable if it so determines.
- 24.3 If the Company determines that a Force Majeure Event exists or is about to occur then it may (without prejudice to any other rights under this Agreement and at its sole discretion) take such action as it deems necessary or appropriate in the circumstances and neither the Company, nor any of its directors, officers, employees, agents or advisers will be liable for any failure, hindrance or delay in performing its obligations under this Agreement or for taking or omitting to take any action pursuant to this subparagraph.
25. Complaints
- 25.1 Clients who wish to file a complaint must do so via e-mail, sent directly to the Company’s Support Department, to the following e-mail address: support@cryptogt.com.
- 25.2 All Complaints shall be treated confidentially.
- 25.3 A Complaint must not include offensive language directed either to the Company or the Company employee(s).
- 25.4 Procedure
- 25.4.1 Once we receive your Complaint, we will provide you with a written acknowledgment (via e-mail), confirming that we have received your Complaint and we are investigating it. You shall receive the abovementioned acknowledgment within 24 hours.
- 25.4.2 We will investigate your Complaint and reply to you within 5 working days, informing you about the outcome of our investigation and providing you with our Final Response regarding your Complaint.
- 25.5 Time Restrains
- 25.5.1 Any Complaint regarding Order Execution (i) price, (ii) cost, (iii) speed, and (iv) method shall be submitted to the Company in writing within one month from the execution of the problematic order.
- 25.5.2 No Complaint shall be valid if submitted after one month of its alleged occurrence and should be deemed to be settled in full upon the expiry of the said one-month period. The Client hereby waives any rights it may have inclusively the right to submit any complaint or claim or allegation outside the permitted timeframe of one month from the day that the said alleged occurred, irrespectively of the nature of the event (i.e. trade, refund, etc.) or the size of the Complaint.
26. Client’s Statement
- 26.1 The Client warrants and represents to the Company that:
- 26.1.1 The Client is Legally of Age (as defined in this Agreement), sound mind and is capable of taking responsibility for his/her own actions.
- 26.1.2 The Client is duly authorized to enter into this Agreement, to give Orders, instructions and requests, appoint an Authorized Representative and to perform his/her obligations hereunder.
- 26.1.3 The Client is an individual who has completed the Registration Process or, if the Client is a legal entity, the person who has completed the registration on the Client’s behalf is duly authorized to do so and has the authority to bind that legal entity to this Agreement.
- 26.1.4 The Client is not an employee, director, associate, agent, affiliate, relative, or otherwise connected to the Company, other entities in the Company or any affiliate thereof.
- 26.1.5 The Client is not an employee of any firm whose securities are an underlying asset of a CFD offered by the Company.
- 26.1.6 The Client has read the Risk Disclosure Notice and is fully aware that there is a risk of losing money when trading Financial Instrument(s) and is fully responsible for any such loss. In relation to Client’s losses he/she shall have no claims whatsoever against the Company or any of its partners or their respective directors, officers or employees.
- 26.1.7 All details provided by the Client to the Company either during the Registration Process or at any time thereafter, including as part of any payment deposit transaction, are true, up-to-date, correct and complete.
- 26.1.8 All actions performed under this Agreement will not violate any law, regulations or rule applicable to the Client or to the jurisdiction in which the Client is resident, or any agreement by which the Client is bound or by which any of the Client’s assets or funds are affected.
- 26.1.9 The Client has chosen the particular type of service and Financial Instrument, taking his/her total financial circumstances into consideration and he/she considers such investment reasonable under such circumstances.
- 26.1.10 The Client acts for himself/herself and not as a representative or a trustee of any third person, unless the Client produced, to the satisfaction of the Company and at its sole discretion, and/or power of attorney enabling the Client to act as representative or trustee of any third person.
- 26.1.11 All funds deposited by the Client to his/her trading account belong to the Client, are free of any lien, charge, pledge and any other encumbrance and were not obtained by the Client, either directly or indirectly, from illegal activity. If the Company reasonably suspects that the client is in breach of the above warranty, it may, without derogating from its other rights under this agreement, to freeze the Account, either by prohibiting additional deposits, declining Order and/or declining or delaying any withdrawal requests, terminating existing Positions and/or any other means it is allowed or required to take. The Client agrees that the Company shall not be liable for any loss, damage or expense of any kind which the Client may suffer as a result of such cases.
- 26.1.12 The Client acknowledges that all Transactions will be performed only through the Trading Platform(s) provided by the Company and the Cryptocurrencies and other Financial Instruments are not transferable to any other Trading Platform(s) whatsoever.
- 26.1.13 The Client agrees not to use the Trading Platform and/or give an Order or enter into Transaction within the definition of any market abuse law or in any other abusive way, including lag trading and/or usage of server latency, price manipulation, time manipulation or any other practices which are illegal and/or are utilized to give the Client an unfair advantage or which the Company considers, at its sole discretion, as inappropriate and outside the scope of this Agreement and/or as unfair business conduct.
- 26.1.14 The Client shall not allow any third party (including a relative) to use his/her Account, Access Codes or identity to access or use the Services (including depositing funds from third parties) or the Trading Platform and the Client shall be fully responsible for any activities undertaken on his/her Account by a third party using the Client's Access Codes.
- 26.1.15 The Client is solely responsible for any telecommunications networks and Internet access services and other consents and permissions required in connection with his/her use of the Website, the Trading Platform and the Services. Client shall be responsible for all access and service fees necessary to connect to the Website and the Trading Platform and assumes all charges incurred in accessing such systems. The Client further assumes all risks associated with the use and storage of information on his/her personal computer or on any other computer or electronic device through which the Client will gain access to the Website, the Trading Platform and the Services.
- 26.1.16 The Client will implement, operate and maintain appropriate protection in relation to the security and control of access to his/her computer, and against computer viruses or other similar harmful or inappropriate materials, devices, information or data.
- 26.1.17 The Client will not commit any acts or display any conduct that damages the reputation of the Company.
- 26.1.18 In order to communicate with the Company via e-mail, the Client will use only this e-mail address, which he/she has provided the Company with during the registration process.
- 26.1.19 The Client acknowledges that no representations were made to him by or on behalf of the Company which have in any way incited or persuaded him to enter into this Agreement.
- 26.1.20 The Client acknowledges and agrees that initiation of the business relationship between the Client and the Company occurs once the Client accepts the Terms and Conditions of Use.
27. Affiliates/Introducing Brokers
- 27.1 Personal Accounts are not qualified to receive rebates/commissions for introducing clients unless the Affiliate/Introducing Broker maintains 10 active client accounts with deposited funds.
- 27.2 An Affiliate/Introducing Broker can receive rebates/commissions from any number of client accounts that do not belong to the Affiliate/Introducing Broker.
- 27.3 It is at sole discretion of the Company to pay Affiliate/Introducing Broker commissions. Should the Company detect or suspect any irregularities, such as Affiliates/Introducing Brokers aim to generate commissions/rebates through manipulation of the service, trading system, bonuses, promotional offers, and/or suspected to have any direct or indirect influence over the trading accounts linked to the Affiliate/Introducing Broker, but not limited to, the Company has the right to refuse payment of all commissions and to take all necessary actions deemed necessary to protect it business.
28. Interpretation of Terms
- 28.1 The Client warrants and represents to the Company that:
- 28.1 Unless indicated to the contrary, the defined terms included in the Terms and Conditions of Use shall have a specific meaning and may be used in the singular or plural as appropriate.
- 28.2 Access Code(s): Shall mean the username and password given by the Company to the Client for accessing the Trading Platform and/or Client Portal.
- 28.3 Account Shall mean, the uniquely assigned account that is created for a Client when such Client opens a trading account with the Company.
- 28.4 Account Statement: Shall mean periodic statement of the Transactions credited or debited to an Account.
- 28.5 Agreement: Shall mean this Agreement, inclusive of all its annexes, appendices, addenda, attachments schedules and exhibits and amendments, as the same may be in force from time to time and modified and amended from time to time.
- 28.6 Ask Price: Shall mean the price at which the Company is willing to sell a financial instrument. As supplied by the Company’s’ market maker.
- 28.7 Bad Pricing: Shall mean a bid or ask price that was quoted in the Company’s trading platform which doesn’t represent the actual market and has a significant gap.
- 28.8 Balance or Cash Balance: Shall mean the funds available in a trading account that may be used for trading financial instruments.
- 28.9 Balance Currency or Profit currency: Shall mean the currency that the trading account is denominated in; it should be noted that all charges including spreads, commissions and swaps, are calculated in that currency.
- 28.10 Base Currency: Shall mean the first currency represented in the currency pair, for example in the BTC/USD pair the base currency is BTC.
- 28.11 Bid Price: Shall mean the price at which the Company is willing to Buy a financial instrument. As supplied by the Company’s market maker.
- 28.12 Closed Position: Shall mean the opposite of an open position, thereby nullifying it and eliminating the initial exposure. Thus, profit or loss will be settled.
- 28.13 Company’s Trading Platform: Shall mean both the Client Portal and/or Affiliate Portal and MT5 Trading Platform.
- 28.14 Company’s Website: Shall mean the website that belongs to the Company: ww.cryptogt.com
- 28.15 Contract: Shall mean any contract, unless the context otherwise requires, oral or written, for the purchase or sale of any commodity, security, currency or any other Supported Financial Instrument or property, including without limitation, any derivative contracts, such as CFDs or other transactions related thereto, entered into by and between the Company and its Client(s).
- 28.16 Contract for Difference (CFD): Shall mean a contract between the Client and the Company’s’ market maker, for the difference between the value of an Underlying Instrument at the time of opening the Transaction and the value of such Underlying Instrument at the time of closing the Transaction, including any interest adjustments (including spread) or Overnight Financing, if applicable. The Company is not the counterparty to the CFD but merely acts as intermediary between the market maker and the Client.
- 28.17 Corporate Actions: Shall mean any actions taken by the issuer, whose listed securities are associated with the financial instruments traded through the Company’s trading platform(s), including but not limited to instances of: (i) stock split and reverse split (ii) consolidation, (iii) rights issue, (iv) merger and takeover, (v) dividends, (vi) Spin Offs.
- 28.18 Counter Currency: Shall mean the second currency represented in a currency pair, for example in the BTC/USD currency pair variable currency is the USD.
- 28.19 Cryptocurrencies and other Financial Instruments: SAll instruments that the Company offers.
- 28.20 Declared Price: Shall mean the price that the Client requested for either a Market Order, Price Range or Limit Order and pending or an entry order.
- 28.21 Dormant Account: Shall mean any account with no activity (trading/withdrawal/deposit) for a set period of at least 90 (ninety) calendar days.
- 28.22 Effective Date: Shall mean the date on which the Agreement enters into effect; a date when the Client initiates a business relationship with the Company.
- 28.23 Electronic Trading Platform(s): Shall mean online electronic trading platform(s) that is/are made available by the Company to its Clients for placing Orders, requesting Price Quotes for Transaction(s) and/or Contract(s), receiving price information and market related laws as well as having a real-time revaluation of their open positions, through the Internet, where Transactions and/or Contracts in Financial Instruments can be processed through deal Requests and Deal Responses, Settlement Trade Confirmations can be issued, Accounts can be managed and historical data can be stored and managed.
- 28.24 Equity: Shall mean the balance + Credit plus or minus any profit or loss that derives from any open position.
- 28.25 Execution Venue: Shall mean a regulated market, a multilateral trading facility or a market maker or another liquidity provider or an entity performing in a third country a similar function to the functions performed by any of the foregoing.
- 28.26 Financial Instruments: All instruments that the Company is authorized to offer, pointed in the Scope of Services section of this Agreement, as supplied by the Company’s’ market maker.
- 28.27 Force Majeure: Shall mean any event beyond the reasonable control of the Company, which prevents the Company from complying with any of its obligations under this Agreement, including but not limited to: acts of God (such as, but not limited to, fires, explosions, earthquakes, drought, tidal waves and floods); war, hostilities (whether war be declared or not), invasion, act of foreign enemies, mobilization, requisition, embargo, rebellion, revolution, insurrection, military or usurped power, civil war, riot, commotion, strikes, go slows, lock outs, disorder and acts or threats of terrorism; acts and regulations of any governmental or supra national bodies or authorities that, in the Company’s opinion, prevents the Company from maintaining an orderly market in one or more of the Financial Instruments or CFDs in respect of which the Company deals on the Trading Platform(s); the occurrence of an excessive movement in the level of any Transaction and/or Financial Market and/or Underlying Instrument or the Company’s anticipation of the occurrence of such a movement; any breakdown or failure of transmission, communication or computer facilities, interruption of power supply, or electronic or communications equipment failure; or the failure of any relevant supplier, financial institution intermediate broker, agent or principal of the Company, custodian, sub-custodian, dealer, exchange, feed provider, clearing house or regulatory or self-regulatory organization, for any reason, to perform its obligations.
- 28.28 Free Margin: Shall mean funds that are available for opening a position. It is calculated as: Free Margin = Equity – Margin.
- 28.29 Inactive Trading Account: Shall mean the Trading Account that had no trading activity (as defined in section 28.54) in the last 90 calendar days.
- 28.30 Leverage: Shall mean the practice of using Margin in order to increase the potential return of an investment which also symmetrically increases a potential loss. Trading on leveraged capital means that the Client can trade in amounts significantly higher than the funds they have invested, which only serves as the margin.
- 28.31 Limit Order: Shall mean an instruction to open or close a Transaction at a price that may be available in the future which is executed in accordance with the Company’s Order Execution Policy.
- 28.32 Lot: Shall mean the unit that represents the volume of a transaction. It should be noted that 1 lot equals 100,000 units of base currency, for example 1 lot in EUR/USD equals EUR 100.000; therefore, 0.1 of a lot is 10,000 units of base currency. Lot size vary between symbols.
- 28.33 Market: Shall mean any regulated market, or multilateral trading facility on which Underlying Instruments are being traded.
- 28.34 Market Order: Shall mean an order in which the Company makes every effort to execute at the best available price. Generally, this order will be executed immediately. However, the price at which a market order will be executed is not guaranteed and may be executed at a worse or better price.
- 28.35 Mark-UP: Shall mean the additional spread added on the bid or ask quotes received from the various liquidity providers / market maker.
- 28.36 Margin or Margin Used: Shall mean the committed funds for the purposes of maintaining an open position.
- 28.37 Margin Call: Shall mean the situation, which occurs when the account’s equity is about to drop below the margin requirement needed to maintain open position(s).
- 28.38 Margin Level: Shall mean the Equity to Margin ratio calculated as Margin Level = Equity / Margin.
- 28.39 Negative Slippage: Shall mean the difference between the expected executed price of an order, and the price at which the order is actually executed due to market conditions.
- 28.40 Open Position: Shall mean any transaction or contract which resulted from an executed order, and which is still in effect, unsettled, non-concluded, by assuming varying profit or loss in accordance with price movements of financial instrument(s).
- 28.41 Over-the-Counter (OTC): Shall mean trading of financial instruments directly between two parties, outside of an exchange traded environment.
- 28.42 Party: Shall refer to the Company and/or its Client(s), as the case may be, as it appears from the context in which the term is used in this Agreement; the Company and its Client(s) may collectively, be referred to in this Agreement as the “Parties”.
- 28.43 Pending Order or Entry Order: Shall mean either a buy stop, or sell stop, or buy limit, or sell limit order. An order to be executed at a later time and at a price that the Client has specified.
- 28.44 Politically Exposed Person: Shall mean a natural person who has its place of residence in a European Union Member State or in third countries, and who is or has been, or any of its immediate family members or persons known to be close associates of such person are or have been, entrusted with prominent public functions.
- 28.45 Positive Slippage: Shall mean the difference between the expected executed price of an order, and the price at which the order is actually executed at. In this case the order executes at a better price.
- 28.46 Price Gap: Shall mean an area on a chart where the price of a financial instrument moved sharply up or down with little or no trading in between. As a result, the asset's chart shows a "gap" in the normal price pattern.
- 28.47 Price Range or Limit Order: Shall mean an order to sell a financial instrument at no less than a specific price or to buy a financial instrument at no more than a specific price.
- 28.48 Read - only Status:As the account is turned to Read-only Status, this means that NO trading activity can be performed by and/or on the behalf of the Client. The Client cannot open any position or close any existing positions, but they are able to log in to their account and read their trading history.
- 28.49 Registration Process: Or Online Account Opening Procedure shall mean the Client’s application to open an Account with the Company which includes, but not limited to, the provision of the Client’s personal and financial details and the identification, and verification of the Client by the Company which shall conclude in either opening an Account or the rejection of the application.
- 28.50 Stop Loss: SShall mean an instruction that is attached to an open order if the type is a market order and an instruction that is attached to a price range or limit order before execution for minimizing loss. In the case of market order negative or positive slippage might occur.
- 28.51 Spread: Shall mean the difference between the Bid and Ask prices quoted in the Company’s trading platforms.
- 28.52 Swap: Shall mean the overnight interest rate credited or debited on the open position.
- 28.53 Take Profit: Shall mean an instruction that is attached to an open order if the type is a market order and an instruction that is attached to a price range or limit order before execution for securing profit. In the case of a market order negative or positive slippage might occur.
- 28.54 Terms: Shall mean these Terms and Conditions which governs Company’s relationship with its Clients.
- 28.55 Trading Account: Shall mean the account, which has a unique number, maintained by a Client for the purposes of trading financial instruments through the Company’s trading platform(s).
- 28.56 Bad Pricing: Shall mean the activity of implementing at least one of the below actions within a Trading Account.
Deal actions:- Sell – selling a financial instrument.
- Buy – buying a financial instrument.
- Open positions
- 28.57 Trailing Stop: Shall mean a stop loss order input in terms of points (pips) below the market price - for a long position and above the market price – for a short position. The trailing stop price is adjusted as the price fluctuates. .
- 28.58 Value Date: Shall mean the delivery date of funds.
- 28.59 Working DayShall mean any day on which banks are open for business.
Order types: