The Agreement is entered by and between Fortrade (Mauritius) Ltd (hereinafter called the “Company”, or
“we” or “us”) on the one part and the Client (which may be a legal entity or a natural person) who has
completed the Account Opening Application Form and has been accepted by the Company as a Client
(“Client” or “you” or “your”) on the other part.
The Company is authorised and regulated by the Financial Services Commission, Mauritius (the 'FSC') and its registered address is in Mauritius, Toukan Corporate Services Limited, King George Avenue, Floreal.
This Client Agreement together with the documents and policies published on the Website as well as any Appendices added thereto (all together the “Agreement”), as amended from time to time, set out the terms upon which we will offer our Services to you, the rights and obligations of both Parties and govern the relationship and trading activity between us and you. By completing and signing the Application Form and this Agreement or by ticking the relevant “I agree” box online you acknowledge that you have read, understood and agree to be legally bound by the Agreement.
The Client should read all documents published on the Website and any other letters or notices sent by the Company carefully as well as the various other documents found on the Website and make sure that he/she understands and agrees with all of them before accepting the Agreement.
The Company may provide the above documents in languages other than English. Translation or information provided in languages other than English is for informational purposes only and do not bind the Company or have any legal effect whatsoever, the Company having no responsibility or liability regarding the correctness of the information therein and the Client should also refer to the English version and the Website for information on the Company and its policies.
The Agreement overrides any other agreements, arrangements, express or implied statements made by the Company or any Introducer(s). You accept the terms and conditions in the Client Agreements when you complete and submit the Account Opening Application Form.
When we refer to "you" and "your" we mean the Client of the Company who is a licensed user of the Trading Platform or any visitor to our Website www.fortrade.com who is not a Client of the Company. If you decide to download our Software to use the trading demonstration then the terms and conditions within this document (to the extent applicable) apply to you and by downloading the Software you accept the same and agree to abide by the terms and conditions herein, although you shall not be treated as our Client and we shall have not obligations towards you.
By accepting the current Agreement, you confirm that you are able and agree to receive information, including any amendments to the present agreement, either via email or through the Company’s website www.fortrade.com (hereinafter, the “Website”).
1.1. Defined terms used in this Agreement are set out in the Act or in the FSC Rules. All references to a
statutory provision include references to:
(1) any statutory modification, consolidation or re-enactment of it, whether before or after the date of this Agreement, for the time being in force;
(2) all statutory instruments or orders made pursuant to it; and
(3) any statutory provision of which that statutory provision is a re-enactment or modification.
1.2. In this Agreement:
“Abusive Trading” shall mean the following actions, but not limited to, pip-hunting, scalping, arbitrage, manipulations or exploitation of any temporal and/or minor inaccuracy in any rate or price offered on the Trading Platform, a combination of faster/slower feeds, use of any robots, spiders or other automated data entry system with the Trading Platform (unless the Client receives express written consent by the Company prior to activating the robot), violation of the Client’s obligations under paragraph 2 of Appendix.
“Account Credentials” shall mean a unique username and password used by you to access and use the Trading Platform.
“Act” shall mean the Financial Services Act 2007.
“Affiliate” shall mean in relation to the Company, any entity which directly or indirectly controls or is controlled by the Company, or any entity directly or indirectly under common control with the Company; and “control” means the power to direct or the presence of ground to manage the affairs of the Company or entity.
“Agreement” shall mean this “Client Agreement” as well as any other Appendices added thereto, as amended from time to time.
“Applicable Regulations” shall mean (a) FSC Rules or any other rules of a relevant regulatory authority having powers over the Company; (b) the rules of the relevant market; and (c) all other applicable laws, rules and regulations of Mauritius.
“Ask Price” shall mean the higher price in a quote being the price at which you may buy.
“Authorized Person” shall mean you or any of your officers, partners, principals or employees.
“Base Currency” shall mean in an FX Contract the first currency in the Currency Pair against which the Client buys or sells the Quote Currency.
“Business Day” shall mean any day between Monday and Friday when Financial Institutions are open in Mauritius.
“Buy” shall mean a Transaction in FX and CFD that is opened by offering to buy a specific number of a certain Underlying Asset, and may also in our dealings with you in FX and CFDs, be referred to as a "long" or "Long Position".
“Client Account” shall mean an approved and active account of the Client with the Company.
“Client” means a natural or legal person, accepted by the Company as its Client to whom services will be provided by the Company.
“Contract for Difference or CFD” shall mean the financial instrument which is a contract between the parties (described as "buyer" and "seller"), stipulating that the seller will pay to the buyer the difference between the current value of an Underlying Asset and its value at a future time; if the difference is negative, then the buyer pays instead to the seller.
“Currency Pair” shall mean the object or Underlying Asset of an FX Contract based on the change in the value of one currency against the other. A Currency Pair consists of two currencies (the Quote Currency and the Base Currency) and shows how much of the Quote currency is needed to purchase one unit of the Base Currency.
“Event of Default” shall have the meaning given in paragraph 26.1. of this Client Agreement.
“Difference” shall mean in an FX and CFD the difference in price upon the opening of a Transaction and the closing of such Transaction.
“Expert Advisor” shall mean a mechanical online trading system designed to automate trading activities on an electronic trading platform such as the Company’s Trading Platform. It can be programmed to alert the Client of a trading opportunity and can also trade his Trading Account automatically managing all aspects of trading operations from sending orders directly to the Trading Platform to automatically adjusting stop loss, Trailing Stops and take profit levels.
“Expiry Date” shall mean the date set specified on the Trading Platform with respect to certain Underlying Asset upon which any open Transaction for such Underlying Asset shall expire automatically.
“Financial Data” shall mean any financial and market data, price quotes, news, analyst opinions, research reports, signals, graphs or any other data or information whatsoever available through the Trading Platform.
“Financial Institution” shall mean banks, financial institutions, brokers or other trading organizations.
“Financial Intelligence Unit” shall mean the national agency established under the Financial Intelligence and Anti Money Laundering Act 2002.
“Force Majeure Event” shall have the meaning as set out in paragraph 16.1. of this Client Agreement.
“FX Contract” or “FX” shall mean the type of CFD where the Underlying Asset is a Currency Pair. Hence, any mention to CFDs in this Agreement also covers FX Contracts. So, although, FX Contracts are included in the definition of CFDs, they may be mentioned separately in this Agreement and/or on the Company Website and various Company policies.
“FATCA” shall mean the United States “Foreign Account Tax Compliance Act”.
“FSC” shall mean the Financial Services Authority in Mauritius.
“FSC Rules” shall mean the FSC’s Handbook of Rules and Guidance.
“Initial Margin” shall mean the minimum amount of money required in your Trading Account in order to open a Transaction, as specified on the Trading Platform from time to time for each specific Underlying Asset.
“Intellectual Property Rights” shall mean patents, trademarks, service marks, trade names, logos, software code, icons, characters, layouts, trade names, trade secrets, buttons, colour scheme, internet domain names, rights in designs, copyright (including rights in computer software), database rights, semi-conductor topography rights, utility models, rights in know-how and other intellectual property rights, in each case whether registered or unregistered and including applications for registration, and all other rights or forms of protection having equivalent or similar effect anywhere in the world.
“Introducer” shall have the meaning as set put in paragraph 32.1 of this Client Agreement.
“Leverage” is expressed as a ratio of the Transaction size as against the margin requirements. For example, 1:100 ratio means that in order to open a position the Initial Margin is one hundred times less than Transaction size. Leverage comes with greater risk and can magnify losses as well as gains.
“Long Position” for FX and CFD trading shall mean a buy position that appreciates in value if underlying market prices increase. For example, in respect of Currency Pairs: buying the Base Currency against the Quote Currency.
“Maintenance Margin” shall mean the minimum amount of money required in your Trading Account as specified on the Trading Platform in order to keep a Transaction open on the Trading Platform.
“Manifest Error” shall mean any error that we reasonably believe to be obvious or palpable, including without limitation, offers to execute Transactions for exaggerated volumes of Underlying Assets or at manifestly incorrect market price quotes or prices at a clear loss.
“Margin” shall mean the Initial Margin and the Maintenance Margin collectively.
“Margin Call” shall mean a demand by us for you to increase the amount of money in your Trading Account to satisfy our Margin requirements, from time to time in our sole and absolute discretion, including without limitation a call under paragraph 17 of this Client Agreement.
“Normal Market Size” shall mean the maximum number of Underlying Assets that we believe, in our sole discretion, an Underlying Market trading in such an Underlying Assets can comfortably handle, having regard, if appropriate, to the normal market size set by such an Underlying Market or any other equivalent or analogous level set by the Underlying Market on which the Underlying Assets is traded.
“Open Position” shall mean any open contract which has not been closed.
“Order” shall mean an instruction from the Client to trade in FX and CFDs. For FX and CFD it means a Stop Loss or Take Profit order.
“Quote” shall mean the information of the current price for a specific Underlying Asset, in the form of the Bid and Ask prices.
“Quote Currency” shall mean in an FX Contract the second currency in the Currency Pair which can be bought or sold by the Client for the Base Currency.
“Parties” shall mean the parties to this Client Agreement – the Company and the Client.
“Personal Area” a section on the Company’s website dedicated to each Client containing information addressed to the specific Client and through which the Company and the Client may interact.
“Pip” shall mean in a CFD Transaction with Underlying Assets quoted in four decimal points the one hundredth of one percentage point. In a CFD Transactions with Underlying Assets quoted in two decimal points, Pip shall mean the one percentage point.
“Position” shall mean your position in relation to any FX and CFD currently open on your Trading Account.
“Registration Data” shall mean certain personal and financial information that you are required to provide in order to complete the Account Opening Application Form and become our Client, such information can include without limitation a copy of your passport, driving license and/or Photo identity card.
“Sell” shall mean an FX and CFD Transaction that is opened by offering to sell a specific number of a certain Underlying Asset, and may also in our dealings with you, be referred to as a "short" or "short position".
“Services” shall mean the services to be offered by the Company to the Client under this Agreement, as set out in paragraph 7.1. of this Client Agreement.
“Short Position” shall mean a sell position that appreciates in value if market prices fall. In respect of Currency Pairs: selling the Base Currency against the Quote Currency.
“Slippage” shall mean the difference between the expected price of a Transaction in a CFD and the price the Transaction is actually executed at. At the time that an Order is presented for execution, the specific price requested by the Client may not be available; therefore, the Order will be executed close to or a number of pips away from the Client’s requested price. If the execution price is better than the price requested by the Client, this is referred to as positive slippage. If the executed price is worse than the price requested by the Client, this is referred to as negative slippage. Slippage often occurs during periods of higher volatility (for example due to due to news events) making an Order at a specific price impossible to execute, when market orders are used, and also when large Orders are executed when there may not be enough interest at the desired price level to maintain the expected price of trade.
“Software” shall mean the software provided by us which you will need to download in order to use the Trading Platform.
“Spread” for FX and CFD trading shall mean the difference between Ask and Bid of an Underlying Asset in a FX and CFD at that same moment.
“Stop Loss” shall mean an offer to close a Transaction in an FX and CFD position at a price determined in advance by you which, in the case of a Buy is lower than the opening Transaction price and in the case of a Sell is higher than the opening Transaction price.
“Swap or Rollover” for FX and CFD trading shall mean the interest added or deducted for holding a position open overnight.
“Take Profit” shall mean offer to close a Transaction in an FX and CFD position at a price determined in advance by you which, in the case of a Buy is higher than the opening Transaction price and in the case of a Sell is lower than the opening Transaction price.
“Trading Account” shall mean the exclusive personalized account of the Client consisting of all the Open Positions and Orders of the Client the balance of the Client money and deposit/withdrawal transactions of the Client money.
“Trading Platform” shall mean the electronic mechanism operated and maintained by the Company, consisting of a trading platform, computer devices, software, databases, telecommunication hardware, programs and technical facilities, which facilitates trading activity of the Client in FX and CFDs via the Trading Account.
“Trailing Stop” in FX and CFD trading shall mean a stop-loss order set at a percentage level below the market price - for a Long Position. The trailing stop price is adjusted as the price fluctuates. A sell trailing stop order sets the stop price at a fixed amount below the market price with an attached "trailing" amount. As the market price rises, the stop price rises by the trail amount, but if the pair price falls, the stop loss price does not change, and a market order is submitted when the stop price is hit.
“Third Party License” shall mean licenses from third parties governing third party software embedded or used in the Trading Platform.
“Trading Hours” shall mean the hours of trading as set forth on the Trading Platform for a particular Underlying Asset.
“Transaction” shall mean either the opening or closing of an offer to either buy or sell FX and CFD for an Underlying Asset on the Trading Platform, whether by you or us.
“Underlying Asset” shall mean the object or underlying asset in a CFD which may be Currency Pairs (for FX Contracts), Equity Indices, base or precious Metals, Forwards, Commodities, Stocks, Shares Indices and Futures. It is understood that the list is subject to change and Clients must refer each time on the Trading Platform.
“Underlying Market” shall mean the relevant market where the Underlying Asset is traded such as securities or futures exchanges, clearing houses, self-regulatory organizations, multilateral trading facilities or alternative trading systems.
“Website” shall mean the Company’s website at www.fortrade.com or such other website as the Company may maintain from time to time.
“Written Notice” shall have the meaning set out in paragraph 36.5 of this Client Agreement.
1.3. Words importing the singular shall import the plural and vice versa. Words importing the masculine shall import the feminine and vice versa. Words denoting persons include corporations, partnerships, other unincorporated bodies and all other legal entities and vice versa.
1.4. Paragraph headings are for ease of reference only.
1.5. Any reference to any act or regulation or law shall be that act or regulation or law as amended, modified, supplemented, consolidated, re-enacted or replaced from time to time, all guidance noted, directives, statutory instruments, regulations or orders made pursuant to such and any statutory provision of which that statutory provision is a re-enactment, replacement or modification.
2.1. The Trading Platform is not intended for distribution to, or use by, any person:
- who is under the age of 18 years old and/or not of legal competence or of sound mind;
- who resides in any country where such distribution or use would be contrary to local law or regulation. The Trading Platform and any other service provided by us is not available to persons residing in any country where FX and CFD trading activity or such services would be contrary to local law or regulation. It is your responsibility to ascertain the terms of and comply with any local law or regulation to which you are subject;
who is a citizen or resident of certain jurisdictions such as, but not limited to, the United States of America, Australia, Israel, Turkey, Japan, Canada ,North Korea (DPRK) or Belgium, as the Company does not accept Clients from these countries.
2.2. Without derogating from the above, we reserve the right, acting reasonably, to suspend and/or refuse access to and use of the Trading Platform and/or close the Trading Account and terminate the Client Agreement to anyone in our sole and absolute discretion.
2.3. You acknowledge that we may provide the Trading Platform to other parties, and agree that nothing herein will be deemed or construed to prevent us from providing such services.
2.4. Subject to the terms and conditions of this Agreement, we hereby grant you, a personal limited, nonexclusive, revocable, non-transferable and non-sub-licensable license to install and/or use the Trading Platform in object code only, solely for your personal use and benefit in accordance with the terms of this Agreement.
2.5. If any third party software is included within or embedded in the Trading Platform, then such embedded third party software shall be provided subject to the terms of this Agreement which apply to the Trading Platform. You shall fully comply with the terms of any Third Party Licenses that we provide to you from time to time. We provide no express or implied warranty, indemnity or support for the Third Party Licenses, and will have no liability.
2.6. We reserve any and all rights to the Trading Platform not expressly granted to you by this Agreement. The Trading Platform is granted to you solely for facilitating trading with the Company and under no circumstances is sold to you. The Trading Platform, all copies and any derivative works thereof (by whoever created), the associated goodwill, copyrights, trademarks, logos, know how, patents and any intellectual property rights, are and shall remain owned solely by the Company or our licensors. Other than provided above in this paragraph, no other license, right, or interest in any goodwill, trademark, copyright, logo, know how, patent, service mark or other Intellectual Property Right in the Trading Platform or any part or derivative work thereof is granted or conveyed to you.
2.7. You shall take all reasonable steps to:
- procure and maintain in proper working order, throughout the term of this Agreement and at your own expense, the hardware, operating environment (including operating system software), backup means and infrastructure necessary for the installation, operation and maintenance of the Trading Platform (including without limitation uninterruptible power systems and electrical back-up devices);
- prevent any virus infections, security breaches, and other disabling events from damaging the Trading Platform due to your actions or omissions;
- implement and plan to operate and maintain appropriate protection in relation to the security and control of access to your computer, computer viruses or other similar harmful or inappropriate materials, devices, information or data.
2.8. Please inform us in writing if you encounter any problems with the Trading Platform, or have any suggestions for modifications, design changes and improvements. We shall have the right, but not the obligation, to make modifications to the Trading Platform based upon your suggestions. Any modifications, design changes and improvements made to the Trading Platform based on your feedback shall be the undisputed sole property of the Company.
2.9. We will deliver the Trading Platform with reasonable skill and care.
2.10. From time to time and at our sole discretion, we shall have the right to add to, modify, or remove any part of the Trading Platform without liability under this Agreement and if we do so we shall use reasonable endeavors to replace any part of the Trading Platform with an equivalent where practicable.
2.11. We have the right shut down the Trading Platform at any time for maintenance purposes without prior notice to the Client, but this will be done only in weekends. In these cases, the Trading Platform will be inaccessible.
2.12. We make no express or implied representation or warranty:
- 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, reconfigurations or upgrades);
- as to the operation, quality or functionality of the Trading Platform;
- that the Trading Platform will be free of errors or defects; and
- 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 your data or other property. We will not be liable for any data lost or any equipment or software replaced by you as a result of use of the Trading Platform.
- may only use the Trading Platform for so long as you are authorized to do so;
- may not use the Trading Platform for any purpose other than for the purpose for which it has been provided under this Agreement; and
- are responsible for the use of the Trading Platform (including the Account Credentials) by you.
2.14. You agree not to:
(a) use the Trading Platform for illegal or inappropriate purposes;
(b) (nor attempt to) interfere with or disrupt the proper operation of our software, hardware, systems or networks, including (but not limited to) not knowingly or negligently transmitting files that may interrupt, damage, destroy or limit the functionality of any computer software, hardware, systems or networks, including corrupted files or files that contain viruses, Trojan horses, worms, spyware or other malicious content;
(c) attempt to gain unauthorized access to our computer system or the computer system(s) of any other user, or to parts of the Trading Platform to which you do not have access rights or attempt to reverse engineer or otherwise circumvent any security measures that the Company has applied to the Trading Platform;
(d) take any action which does or may cause the provision of the Trading Platform to other users to be interrupted or degraded;
(e) convey any false, unlawful, harassing, defamatory, abusive, hateful, racial, threatening, harmful, vulgar, obscene, seditious or otherwise objectionable or offensive material of any kind or nature;
(f) carry out any commercial business on the Trading Platform;
(g) knowingly or negligently upload or download files that contain software or other material protected by copyright, trademarks, patents or other intellectual property rights (or by rights of confidentiality or privacy of publicity, where applicable) unless you own or control the rights thereto or have received all necessary consents;
(h) falsify the origin or source of any content or other material;
(i) use any software, which applies artificial intelligence analysis to the Company’s systems and/or Trading Platform;
(j) intercept, monitor, damage or modify any communication which is not intended for him;
(k) use any type of spider, virus, worm, Trojan-horse, time bomb or any other codes or instructions that are designed to distort, delete, damage or disassemble the Trading Platform or the communication system or any system of the Company;
(l) send any unsolicited commercial communication not permitted under applicable law or Applicable Regulations;
(m)do anything that will or may violate the integrity of the Company computer system or Trading Platform or cause such system(s) to malfunction or stop their operation;
(n) do any action that could potentially allow the irregular or unauthorized access or use of the Platform; or
(o) unlawfully log into the Trading Platform and execute an order to buy or sell a Financial Instrument from a location or IP address originating from a region or jurisdiction where it is not allowed for regulatory reasons
2.15. You shall not be entitled to download, save or copy the Trading Platform.
2.16. Should we reasonably suspect that you have violated the terms of paragraphs 2.13 - 2.15 hereunder, we are entitled to take one or more of the counter measures Events of Default of paragraph 26.2 hereunder.
3.1. In the event that we accept you as our Client we shall open a Trading Account in your name which will
allow you to place Orders on our Trading Platform. It is agreed and understood that the Company might,
from time to time, offer different types of Trading Accounts, which have different margin Requirements and
3.2. In order to access the Trading Account, you will be asked to enter your Account Credentials issued by us to you which are confidential and shall be used solely by you.
(a) are responsible for ensuring that your Account Credentials remain confidential and for taking such other precautions as may be necessary to ensure they cannot be used by any person other than you or your authorized representative and making sure that a third party is not provided access to your computer for example via using team viewer to turn on control on your compute;
(b) must notify us immediately if you become aware that your Account Credentials have in any way become compromised or if any third party may be able to access the Trading Platform; and
(c) You agree we do not have to establish the authority of anyone quoting your Trading Account number or Account Credentials. The use of your Account Credentials by any third party is expressly prohibited.
3.4. If we believe that there is likely to be a breach of security we may require you to change your Account Credentials or suspend your access to the Trading Platform. We reserve the right to edit, amend or issue you with new Account Credentials or require a change of your Account Credentials at any time by giving notice to you.
3.5. You are responsible for ensuring that you alone control access to your Account Credentials, and that no minor or other person is granted access to the Trading Platform using your Account Credentials. You acknowledge that you are ultimately and solely responsible for all actions on the Trading Platform through your Registration Data including any unauthorized disclosure of your Account Credentials.
3.6. You undertake to immediately notify us immediately first orally and then in writing if you become aware of any loss, theft or use by any other person or entity other than you, of any of your Registration Data, including your Account Credentials. We will then take steps to prevent any further use of such Account Credentials and will issue replacement Account Credentials. You will be unable to place any Orders until you receive your replacement Account Credentials.
3.7. If we are informed from a reliable source that your Account Credentials may have been received by unauthorized third parties, we may, at our discretion without having an obligation to you, deactivate the Trading Account.
3.8. You acknowledge that we bear no responsibility if unauthorized third persons gain access to information, including electronic addresses, electronic communication, personal data and Account Credentials when the above are transmitted between the parties or any other party, using the internet or other network communication facilities, post, telephone, or any other electronic means.
3.9. You shall indemnify, defend, and hold us harmless from any claim, proceeding, loss or damages based upon any use, misuse, or unauthorized use of the Trading Platform through your Account Credentials.
4.1. You acknowledge that all Intellectual Property Rights in the Trading Platform are owned by us or our
4.2. You will not:
(a) copy, record, edit, alter or translate any of the Trading Platform, or any part of the Trading Platform. Thisshall include, without limitation not removing, editing or otherwise interfering with (or attempting to remove edit or otherwise interfere with) any names, marks, logos or branding on the Trading Platform;
(b) reverse engineer, disassemble or otherwise attempt to derive source code for the Trading Platform in whole or in part except to the extent expressly permitted by law; and
(c) in any manner damage or impair any of our Intellectual Property Rights, and shall use your best efforts to protect our Intellectual Property Rights from infringement by third parties.
4.3. The Trading Platform, all copies and any derivative works thereof (by whoever created), the associated goodwill and any Intellectual Property Rights in the Trading Platform, are and shall remain owned solely by us or our licensors. Except for the license granted in paragraph 2.4 of this Client Agreement, no other license, right, or interest in any goodwill or Intellectual Property Right in the Trading Platform or any part or derivative work thereof is granted or conveyed to you.
4.4. Unless expressly permitted in this Agreement, you shall not:
(a) assign, sublicense, transfer, pledge, lease, rent, distribute or share the Trading Platform or any rights thereto under the Client Agreements;
(b) separate any component part of the Trading Platform, or separately use any component part thereof on any equipment, machinery, hardware or system whatsoever;
(c) decompile, disassemble, reverse compile, reverse engineer, create derivative works of or reproduce (other than one copy solely for backup and archival purposes) the Trading Platform or any parts thereof;
(d) remove or destroy any proprietary marking or legends placed upon or contained within the Trading Platform;
(e) develop methods to enable unauthorized parties to use the Trading Platform;
(f) attempt to reconstruct or discover any source code, underlying ideas, algorithms, file formats or programming or interoperability interfaces of the Trading Platform by any means whatsoever;
(g) provide, lease, lend, use for timesharing or service bureau purposes, or otherwise use or allow others to use the Trading Platform for the benefit of third parties;
(h) work around any technical limitations in the Trading Platform, or use any tool to enable features or functionalities that are otherwise disabled in the Trading Platform;
(i) use similar processes and functions to develop competing features or functions with the Trading Platform;
(j) use the Trading Platform or any Financial Data to conduct any fraudulent, inappropriate or illegal activities, including without limitation deceptive impersonation;
(k) permit or encourage any third party to do any of the foregoing.
5.1. In order to use the Trading Platform and our Services, you must register with us by providing personal
details, including identity documents, as Registration Data. After you fill in and submit the Account Opening
Application Form together with all the required identification documentation and Registration Data required
by us for our own internal checks, we will send you a notice informing you whether you have been accepted
as a Client of the Company. It is understood that we are not to be required (and may be unable under
Applicable Regulations) to accept a person as our Client until all documentation we require has been received
by us, properly and fully completed by such person and all internal Company checks (including without
limitation anti-money laundering checks, appropriateness or suitability tests as the case may be) have been
duly satisfied. It is further understood that we reserve the right to impose additional due diligence
requirements to accept Clients residing in certain countries.
5.2. You agree and undertake to:
- notify us of any changes to your personal and financial information and/or in your financial condition by emailing [email protected];
- provide true, accurate, current and complete Registration Data as prompted by the registration process;
- maintain and promptly update the Registration Data to keep it accurate, current and complete by emailing any changes to [email protected]; and
- ensure that you log out from your Trading Account at the end of each session on the Website;
- We may carry out credit and other checks from time to time as we deem appropriate. Your Registration Data or other information may be used in the prevention of money laundering as well as for the management of your account. You authorize us to use your Registration Data and other information to perform the above checks in relation to your application process;
- In the event we become aware of any illegal activity, impropriety in the Registration Data or failure of any due diligence requirement, we may freeze your account. Should such an event occur we may not be in a position to release funds and may not be able to carry out subsequent instructions from you.
5.3. Once logged onto the Trading Platform using your Account Credentials, you authorize us to rely upon any information or instructions set forth in any data transmission using your Registration Data, without making further investigation or inquiry, and regardless of the actual identity of the individual transmitting the same. Without limitation of the foregoing, we have no responsibility for transmissions that are inaccurate or not received by us, and we may execute any Transaction on the terms actually received by us.
5.4. In the case where the Client is a legal person it is obliged to obtain a legal entity identifier from an appropriate authority duly licensed to provide legal entity identifiers. In the case of a legal person, the Client may not (where provided by Applicable Regulations) be able to execute any Transactions with the Company if it does not possess a legal entity identifier.
6.1. In providing the Services, the Company might seek information from a Client or potential Client regarding his knowledge, experience in the investment field relevant to the specific type of service or Financial Instrument offered or demanded. The Company is entitled, at its sole discretion, to request additional information regarding the Client and/or to request an update of the data notified by the Client, whenever it deems necessary.
7.1. If you are accepted as our Client, we shall be providing the following investment and ancillary services,
subject to your obligations under the Agreement being fulfilled:
(a) Reception and transition of Orders of the Client in Financial Instruments.
(b) Execution of Orders in Financial Instruments.
(c) Provide Safekeeping and administration of financial instruments for the account of Client (as and if applicable).
(d) Foreign Currency Services provided they are associated with the provision of the reception and transmission service of paragraph 7.1 points (a) and (b) of this Client Agreement.
7.2. It is understood that when trading in CFDs, there is no delivery or safekeeping of the Underlying Asset to which the CFD is referring to.
7.3. It is understood that not all of the Services under paragraph 7.1 of this Agreement may be applicable for each Client.
7.4. The Company shall carry out all Transactions with the Client on an execution-only basis (i.e. on a non – advisory basis). The Company is entitled to execute Transactions notwithstanding that a Transaction may not be suitable for the Client.
8.1. The Company will not advise the Client about the merits of a particular Order or give him any form of
investment advice and the Client acknowledges that the Services do not include the provision of investment
advice in Financial Instruments or the Underlying Markets or Underlying Assets. The Client alone will decide
how to handle his Trading Account and place Orders and take relevant decisions based on his own judgment.
In asking the Company to enter into any Transaction, the Client represents that it has been solely responsible
for making his own independent appraisal and investigation into the risks of the Transaction. The Client
represents that he has sufficient knowledge, market sophistication, professional advice and experience to
make his own evaluation of the merits and risks of any Transaction.
The Company gives no warranty as to the suitability of the products traded under this Agreement and
assumes no fiduciary duty in its relations with the Client.
8.2. The Company will not be under any duty to provide the Client with any legal, tax or other advice relating to any Transaction. The Client may wish to seek independent advice before entering into a Transaction/if he is in any doubt as to whether he may incur any tax liabilities. The Client is hereby warned that tax laws are subject to change from time to time.
8.3. The Company may, from time to time and at its discretion, provide the Client (or in newsletters which it may post on its Website, or provide to subscribers via its Website or otherwise) with information, news, market commentary or other information but not as part of its Services to the Client. Where it does so:
(a) the Company will not be responsible for such information;
(b) the Company gives no representation, warranty or guarantee as to the accuracy, correctness or completeness of such Information or as to the tax or legal consequences of any related Transaction.
(c) this information is provided solely to enable the Client to make his own investment decisions and does not amount to investment advice or unsolicited financial promotions to the Client.
(d) if the information contains a restriction on the person or category of persons for whom that document is intended or to whom it is distributed, the Client agrees that he will not pass it on to any such person or category of persons;
(e) the Client accepts that prior to dispatch, the Company may have acted upon it itself to made use of the information on which it is based. The Company does not make representations as to the time of receipt by the Client and cannot guarantee that he will receive such information at the same time as other Clients.
8.4. It is understood that market commentary, news, or other information provided or made available by the Company are subject to change and may be withdrawn at any time without notice.
9.1. The Company may collect Client information directly from the Client (in his completed Account Opening
Application Form or from his use of the Website otherwise) or from other persons including, for example,
the credit reference agencies, fraud prevention agencies, banks, other financial institutions, third
authentication service providers and the providers of public registers.
9.2. Client information which the Company holds is to be treated by the Company as confidential and will not be used for any purpose other than in connection with the provision, administration and improvement of the Services, anti-money laundering and due diligence checks, for administration of the Services, for research and statistical purposes and for marketing purposes. Information already in the public domain, or already possessed by the Company without a duty of confidentiality will not be regarded as confidential.
9.3. The Company has the right to disclose Client information (including personal data, recordings and documents of a confidential nature, card details) in the following circumstances:
(a) Where required by law or a court order by a competent Court;
(b) Where requested by the FSC or any other regulatory authority having control or jurisdiction over the Company or the Client or their associates or in whose territory the Company has Clients;
(c) To relevant authorities to investigate or prevent fraud, money laundering or other illegal activity;
(d) To such an extent as reasonably required so as to execute Orders and for purposes ancillary to the provision of the Services;
(e) To credit reference and fraud prevention agencies, third party authentication service providers, banks and other financial institutions for credit checking, fraud prevention, anti-money laundering purposes, identification or due diligence checks of the Client. To do so they may check the details the Client supplied against any particulars on any database (public or otherwise) to which they have access. They may also use Client details in the future to assist other companies for verification purposes. A record of the search will be retained by the Company;
(f) To the Company’s professional advisors provided that in each case the relevant professional shall be informed about the confidential nature of such information and commit to the confidentiality herein obligations as well;
(g) To other service providers who create, maintain or process databases (whether electronic or not), offer record keeping services, email transmission services, messaging services or similar services which aim to assist the Company collect, storage, process and use Client information or get in touch with the Client or improve the provision of the Services under this Agreement;
(h) To the Financial Intelligence Unit in any circumstances that they may request legally;
(i) To other service providers for statistical purposes in order to improve the Company’s marketing strategies, in such a case the data will be provided in an aggregate form;
(j) To market research call centers that provide telephone or email surveys with the purpose to improve the services of the Company, in such a case only the contact details will be provided;
(k) Where necessary in order for the Company to defend or exercise its legal rights to any court or tribunal or arbitrator or Ombudsman or governmental authority;
(l) At the Client’s request or with the Client’s consent;
(m)To an Affiliate of the Company or any other company in the same group of the Company.
(n) To successors or assignees or transferees or buyers, with ten Business Days prior Written Notice to the Client, and for the purposes of paragraph 38.2 of this Client Agreement.
(o) if you are employed in the financial services industry by an FSC regulated firm, we may provide copies of your confirmation notes and statements to your Compliance Officer or the Compliance Department;
(p) The Client accepts and acknowledges that the Company, as a Foreign Financial Institution (FFI), is required to disclose personal information in relation to any US reportable person as per Foreign Account Tax Compliance Act (FATCA) reporting regulations. The Company has undertaken all reasonable steps in relation to maintaining compliance with FATCA and may ask from time to time for additional information from US reportable persons so that it can maintain appropriate records.
(q) The Client accepts and acknowledges that the Company is required to disclose personal information in relation to any other reportable person as per the Common Reporting Standards (CRS) reporting regulations. The Company has undertaken all reasonable steps in relation to maintaining compliance with CRS and may ask from time to time for additional information from reportable persons so that it can maintain appropriate records.
9.5. You recognize that you may receive commentary, analysis, market updates and/or confidential or proprietary information. All information belonging to or relating to us including, without limitation, information concerning business plans, customers, supplies, services, Intellectual Property Rights and/or financial information received by you as a result of entering into or performing the Client Agreements which is designated as confidential by us or is otherwise clearly confidential in nature constitutes "confidential information".
9.6. You agree not to use our confidential information for any purpose other than the purpose for which it is supplied to you under the Client Agreement and agree not to divulge confidential information received from us to any third party, and to prevent its disclosure to or access by any third party without our prior written consent except as may be required by law or any legal or regulatory authority.
9.7. You will use a reasonable degree of care to protect our confidential information. This obligation will survive the termination of this Agreement, in respect of a particular item of confidential information, until such earlier time as that item of confidential information reaches the public domain other than through your breach of this term.
9.8. You acknowledge that we shall be entitled to seek specific performance, injunctive relief or any other equitable remedies for any breach or threatened breach of any provision of this paragraph 10, which remedies shall not be deemed to be exclusive remedies for such breach or threatened breach by you, but shall be in addition to all other remedies available to us at law, in equity, or otherwise.
10.1. If you are a natural person, the Company will use, store, process and handle your personal information
in accordance with the Mauritius Data Protection Act 2017 and the Company is obliged to supply you, on
request, with a copy of personal data which it holds about you (if any).
10.2. You have the right to be informed of the personal data we hold about you.
10.3. You acknowledge and agree that the Company might use the services of third party providers, including its Affiliates to perform administrative tasks connected to handling and recording of your personal data and information. You herby authorize the Company to share or transfer, subject to applicable laws, any of your personal information or data to such providers.
10.4. You authorize the Company to store and transfer, subject to applicable laws, your personal information and data on third party servers which may be located outside of Mauritius.
11.1. You accept that the Company may, for the purpose of administering the terms of the Agreement, from time to time, make direct contact with the Client by telephone, fax, email, or post.
12.1. Telephone conversations between the Client and the Company may be recorded and kept by the
Company and recordings will be the sole property of the Company. The Client accepts such recordings as
conclusive evidence of the Orders or conversations so recorded.
12.2. Our records will be evidence of your dealings with us in connection with the Trading Platform. You will not rely on us to comply with your record keeping obligations. You will not object to the admission of our records as evidence in any legal or regulatory proceedings because such records are not originals, are not in writing or are documents produced by a computer.
12.3. Under Applicable Regulations, the Company will keep records containing Client personal data, trading information, account opening documents, communications and anything else which relates to the Client as long as necessary for the fulfilment of the purposes for which it was collected, unless otherwise required by law.
13.1. The Company shall provide the Client with adequate reporting on his Orders. For this reason, the
Company will provide the Client with an online access to his Client Account via the Trading Platform(s) used
by the Client.
13.2. The Company will send a notice to the Client confirming execution of the Order as soon as possible and no later than the first Business Day following execution or, where the confirmation is received by the Company from a third party, no later than the first Business Day following receipt of the confirmation from the third party.
13.3. Furthermore, the Company shall supply the Client, on request, with information about the status of his Order.
13.4. If the Client has a reason to believe that a report / trade confirmation is wrong or if the Client does not receive a report / trade confirmation when he should, the Client shall contact the Company within ten (10) Business Days from the date report / trade confirmation of the Order was sent or ought to have been sent. If the Client expresses no objections during this period, the content is considered as approved by him and shall be deemed conclusive.
13.5. The Company will, depending on the Transaction and on whether it should be reported under Applicable Regulations, report the Transactions to the competent authority as provided by Applicable Regulations as quickly as possible and no later than the close of the following Business Day.
14.1. Without prejudice to any other provisions herein and in particular paragraph 14.13 of this Agreement,
once the Client places an Order on the Trading Platform, the Company arranges for the execution of the said
Order. You acknowledge and agree that each Transaction conducted on the Trading Platform, is comprised
of first an offer by you to us to complete a Transaction (whether such offer is to open a Position or close an
Open Position) at a certain price quoted on the Trading Platform, and our subsequent acceptance of your
offer. An offer will be deemed to have been completed only when your offer has been received and accepted
by us. Our acceptance of an offer will be evidenced by our confirmation of its terms to you and its
14.2. The following rules apply to Orders and their execution:
a. Orders should be placed over the Trading Platform under normal circumstances. We will generally not accept any orders from any other medium;
b. in the event of a Trading Platform failure within our usual trading hours (details of which are set out on Website) closing orders only may be placed over the telephone and other live communication mediums if we are able to verify your identity. We may refuse to accept any opening orders over the telephone and other live communication mediums;
c. we can refuse to place an Order;
d. we shall only accept, monitor and execute Orders during our usual trading hours for the relevant market (details of which are set out on the Website);
e. Orders will be executed at the first reasonable price available to us, on the basis of our Quote (for example if the applicable market opens or trades through the level of your order, this may create a situation where the Order will be subject to gapping).
f. all Orders must be at price levels and on other terms acceptable to us (acting reasonably);
g. the price level at which orders are executed is NOT guaranteed;
h. it is your sole responsibility for cancelling Orders that you have placed and unless you do so, Orders may be executed which could cause liability for you;
i. Orders exceeding a maximum lot size will not be executed by the Company;
j. unless we agree otherwise, Orders will not be attached to a specific trade or another order but are instructions to open or close a trade regardless of whether the trade has the effect of opening a new trade or closing an existing trade;
k. if a price has traded through your specified order level while outside of our normal trading hours but has reverted back so your order level has not been reached, your Order will remain active;
14.3. You may request to cancel or amend a Transaction at any time prior to our completing such a Transaction.
14.4. We reserve the right to void from the outset any Transaction containing or based on any Manifest Error. In the absence of our fraud or wilful default, we will not be liable to you for any loss, cost, claim, demand or expense following any Manifest Error.
14.5. You shall comply with any restrictions that we notify to you from time to time with respect to your activities on the Trading Platform, including without limitation, the size of Transactions or other conditions that may apply to our Quote. You acknowledge that we may offer to and impose on each Client, in our sole discretion, different terms and restrictions with respect to their use of the Trading Platform.
14.6. You acknowledge that the Trading Platform is independent of any Underlying Markets and we are under no obligation to quote a particular price or follow the trading rules consistent with such Underlying Markets. You further acknowledge that the triggering of your Order is linked to the prices quoted on the Trading Platform, not the prices quoted elsewhere on the relevant Underlying Markets and the Company does not guarantee that when executing an Order its price will be more favourable than one which might be available elsewhere. In determining whether the prices quoted on the Trading Platform reach or exceed the price accepted by us in a Transaction, we will be entitled (but not obliged), in our absolute discretion, to disregard any prices quoted on our Platform during any pre-market, post-market or intra-day auction periods in the relevant Underlying Markets, during any intra-day or other period of suspension in the relevant Underlying Markets, or during any other period that in our reasonable opinion may give rise to short-term price spikes or other distortions. Our prices may differ from the current prices on the relevant Underlying
Markets and you acknowledge that a Transaction may be triggered even though:
(a) an Underlying Market never traded at the level of your Transaction; or
(b) the Underlying Market did trade at the level of your Transaction but for such a short period that it would have been impractical to execute an equivalent transaction on the Underlying Markets.
14.7. When you place an Order on the Trading Platform, you agree that you are not dealing a recognized exchange.
14.8. You undertake and agree not to use the prices quoted on the Trading Platform for any purpose other than for your own trading purpose, and you agree not to redistribute our prices to any other person whether such redistribution is for commercial or other purposes.
14.9. You acknowledge that each Transaction is made for a specified number of units that constitute the Underlying Asset. You may only complete Transactions on the Trading Platform for the minimum number of units as set forth on the Trading Platform as the "Unit Amount", and in multiples of such "Unit Amount" up until the maximum amount permitted by the Trading Platform. You acknowledge and agree that we may set, in our sole and absolute discretion, the "Unit Amount" for each Underlying Asset.
14.10. Each Position opened by you, and any Transaction completed, will be binding on you notwithstanding that by opening the Position you may have exceeded any credit or other limit applicable to you or in respect of your dealings with us.
14.11. You may request a Quote to open or close a Position for a particular Underlying Asset, at any time during the Trading Hours for such Underlying Asset. We will be under no obligation to but may, in our absolute discretion, provide a Quote and accept and act on your offer to open or close a Position for an Underlying Asset outside of the Trading Hours of such Underlying Asset. In some cases, Transactions may only be traded during the time when the relevant Underlying Market is open. Trading Hours are displayed on the Trading Platform under the details link for each specific Underlying Asset. It is your responsibility to ensure you are aware of which Underlying Asset may be affected.
14.12. Without prejudice to any of our right hereunder, if, prior to the acceptance of your Order to open or close a Position, we become aware that any of the factors set out in paragraph 14.13 herein, have not been met, we reserve the right to reject your Order outright. If we have, nevertheless, already opened or closed a Position prior to becoming aware that a factor set out in paragraph 14.13 herein has not been met, we may in our discretion, either treat such a Transaction as void from the outset or close the Open Position at our then prevailing price. However, we may, in our absolute discretion, allow you to open or, as the case may be, close the Open Position in which case you will be bound by the opening or closure of such Position, notwithstanding that the factors in paragraph 14.13 herein were not satisfied.
14.13. The factors referred to in paragraph 14.12 include the following:
(a) the quote must be obtained via the Trading Platform or by such other means as we may from time to time notify you;
(b) your offer to open or close the Position must be given while the quote is still valid;
(c) the Quote must not contain a Manifest Error;
(d) when you offer to open a Position, the number of units in respect of which the Transaction is to be opened must be neither smaller than the minimum unit amount specified on the Trading Platform, as applicable, from time to time, nor greater than the amount permitted in accordance with the terms of this Agreement;
(e) when you offer to close part but not all of an open Position both the part of the Position that you offer to close and the part that would remain open if we accepted your offer must not be smaller than the minimum unit amount specified on the Trading Platform;
(f) Force Majeure Event must not have occurred when you offer to open or close a Transaction, which affect the execution of the Transaction;
(g) An Event of Default must not have occurred in respect of you;
(h) when you offer to open any Position, the opening must not result in your exceeding any Initial or Maintenance Margin amount, credit or other limit placed on your dealings;
(i) subject to paragraph 14.12 herein, your offer must be given to us during the Trading Hours for the applicable Underlying Asset in respect of which you offer to open or close the Position;
(j) the internet connection or communications are not disrupted;
(k) there is no request of regulatory or supervisory authorities of Mauritius or a court order to the contrary;
(l) the legality or genuineness of the Order is under not under doubt;
(m) there are Normal Market Conditions; and
(n) any other reasonable factor that we, in our sole discretion, notify you from time to time.
14.14. Use of any robots, spiders or other automated data entry system with the Trading Platform is expressly prohibited, unless you receive express written consent by the Company prior to activating the robot. All Transactions must be completed manually by you.
14.15. The Company is under no obligation, unless otherwise agreed in the Agreement, to monitor or advise the Client on the status of any Transaction or to close out any Client’s Open Positions. When the Company decides to do so, this will be done on a discretionary basis and will not be considered an undertaking of an obligation to continue. It is the Client’s responsibility to be aware of his positions at all times.
14.16. Benefits – Takeovers and Transformations (including events such as share consolidations/splits, mergers, takeovers, spinoffs, MBO's, de-listings, etc.). Depending on the circumstances of each event, our policy is to close out any customer open positions at the market price immediately prior to the event taking place. As a result of such event, if any Underlying Asset becomes subject to an adjustment as the result of a takeover or transformation action we shall determine the appropriate adjustment to be made to the contract price or contract quantity as we consider appropriate to account for the diluting or concentrating effect of the action. Such adjustment shall represent the economic equivalent of the rights and obligations of us and you immediately prior to the action.
14.17. Insolvency. If a company, whose Underlying Asset forms the CFD goes into insolvency or is otherwise dissolved, we shall close any such of your open Transactions in CFD of that Underlying Asset. The closing date shall be the date of insolvency.
14.18. The Company will use reasonable efforts to execute an Order, but it is agreed and understood that despite the Company’s reasonable efforts transmission or execution may not always be achieved at all for reasons beyond the control of the Company.
15.1. If the prices quoted on the Trading Platform change such that the total Difference payable by you
pursuant to all of your open Transaction equals or exceeds the total Maintenance Margin for all such
Transactions, or the amount in your Trading Account is equal to or less than the total Maintenance Margin
for all of your open Transaction(s), or you fail to comply with a request made under paragraph 17.5 of this
Client Agreement, or if we receive a charge-back from your credit card issuer or with respect to any other
payment method for any reason, you acknowledge that we have the right, in our sole discretion, to
immediately close any and all of your Open Positions whether at a loss or a profit without any prior notice
to you. The exercise of our right to force close your Open Positions will not result in termination of your
Trading Account or of this Agreement, unless we send you a notice of termination.
15.2. We may specify on the Trading Platform expiration times and dates for various Underlying Assets traded on the Trading Platform. If the Trading Platform specifies such a time of expiration for an Underlying Asset, you hereby authorize us to close any open Transactions with respect to such an Underlying Asset at the price quoted on the Trading Platform at such time.
15.3. The Company reserves the right in case you maintain five hundred (500) or more Open Positions at any point in time) merge any Open Positions as and where applicable (the so called “Portfolio Compression”).
16.1. We may, in our reasonable opinion, determine that a Force Majeure Event exists. A Force Majeure
Event will include, but is not limited to, the following:
(a) any act, event or occurrence (including without limitation any strike, riot or civil commotion, act of terrorism, war, industrial action, acts and regulations of any governmental or supra national bodies or authorities) that, in our opinion, prevents us from maintaining an orderly market in one or more of the FX and CFDs in respect of which we deal on the Trading Platform;
(b) act of God, earthquake, tsunami, hurricane, typhoon, accident, storm, flood, fire, epidemic or other natural disaster making it impossible for the Company to offer its Services;
(c) labour disputes and lock-out which affect the operations of the Company;
(d) the suspension or closure of any Underlying Market or the occurrence, abandonment or failure of any Underlying Asset on which we base, or to which we in any way relate, our quote, or the imposition of limits or special or unusual terms on the trading in any such market or on any such event;
(e) suspension of trading on the Underlying Market, or the fixing of minimum or maximum prices for trading on the Underlying Market, a regulatory ban on the activities of any party (unless the Company has caused that ban), decisions of state authorities, governing bodies of self-regulating organizations, decisions of governing bodies of organized trading platforms;
(f) a financial services moratorium having been declared by appropriate regulatory authorities or any other acts or regulations of any regulatory, governmental, or supranational body or authority;
(g) the occurrence of an excessive movement in the level of any Transaction and/or Underlying Market or our anticipation (acting reasonably) of the occurrence of such a movement;
(h) any breakdown or failure of transmission, communication or computer facilities, interruption of power supply, or electronic or communications equipment failure; or
(i) the failure of any relevant supplier, Financial Institution, intermediate broker, agent or principal of ours, custodian, sub-custodian, dealer, Underlying Market, clearing house or regulatory or selfregulatory organization, for any reason, to perform its obligations.
16.2. If we determine that a Force Majeure Event exists, we may, in our absolute discretion, without notice and at any time, take one or more of the following steps:
(a) Suspend or modify the application of any or all terms of the Agreement to the extent that the Force Majeure Event makes it impossible or impractical for the Company to comply with them.
(b) Take or omit to take all such other actions as the Company deems to be reasonably appropriate in the circumstances with regard to the position of the Company, the Client and other clients.
(c) Shut down the Platform(s) in case of malfunction for maintenance or to avoid damage.
(d) Cancel any Client Orders.
(e) Refuse to accept Orders from Clients.
(f) Inactivate the Client Account.
(g) Increase Margin requirements without notice.
(h) Close out any or all Open Positions at such prices as the Company considers in good faith to be appropriate.
(i) Increase Spreads.
(j) Decrease Leverage.
(k) Change Stop Out Level.
16.3. You agree that we will not be liable in any way to you or to any other person in the event of a Force Majeure Event, nor for our actions pursuant to paragraph 16.2, if we decide to take such action. The Parties shall be released of all responsibilities for partial or full nonfulfillment, as well as for improper fulfilment of the obligations under this Agreement, if such non-fulfilment or improper fulfilment was a result of a Force Majeure Event, which occurred after the Client Agreements were concluded.
17.1. In order to open a Position for an Underlying Asset, you undertake to provide the Initial Margin in your
Trading Account. In order to keep a Position Open, you undertake to ensure that the amount in your Trading
Account equals or exceeds the Maintenance Margin. Margin Requirements are available at the Platform.
You acknowledge that the Margin for each Underlying Asset differs. Deposits into your Trading Account can
be made by wire transfer or another method of payment, to a bank account, or other location, as we may
notify to you from time to time. Based on the amount of money you have in your Trading Account, we retain
the right to limit the amount and total number of open Transactions that you may wish to open or currently
maintain on the Trading Platform. It is understood that each different type of Trading Account offered by us
from time to time may have different Margin Requirements.
17.2. It is your responsibility to ensure that he understands how Margin Requirements are calculated.
17.3. The Company has the right to change the Margin requirements. New Margin Requirements shall be applied for new positions. The Company has the right to change Margin requirements without prior notice to the Client in the case of Force Majeure Event. In this situation the Company has the right to apply new Margin requirements to the new positions and to the positions which are already open where this is deemed necessary. All changes shall be affected on the Platform and/or the Website and the Client is responsible to check for updates. It is the Client’s responsibility to monitor at all times the amount deposited in his Trading Account against the amount of any Margin required under this Agreement and any additional margin that may become necessary.
17.4. You are aware and acknowledge that we may, in our sole discretion, require you to take certain action in your Trading Account pursuant to a Margin Call. A Margin Call may be based upon a number of factors, including without limitation, your overall position with us, your account size, the number of open Transactions you have, volume traded, your trade history and market conditions.
17.5. The Company shall not have an obligation to make any Margin Call to the Client but in the event that it does, or in the event that the Trading Platform warns the Client that it reached a certain percentage of the Margin in the Trading Account, the Client should take any or any of the three options, within a short period
of time, to deal with the situation:
(a) Limit his exposure (close trades); or
(b) Hedge his positions (open counter positions to the ones he has right now) while reevaluating the situation; or
(c) Deposit more money in his Trading Account.
17.6. Failure to meet the Margin Requirements at any time or failure to take an action under paragraph 18.5 of this Client Agreement, gives us the right in in our sole discretion, to close any and all of your Open Positions whether at a loss or a profit without further notice to you. It is your responsibility to monitor, at all times, the amount deposited in your Trading Account against the amount of Maintenance Margin required as a result of your trading decisions and it is understood that the Company has the right to take the actions of this paragraph, even if a Margin Call is not made under paragraph 18.5 of this Client Agreement.
17.7. Margin shall be paid in monetary funds in the Currency of the Trading Account.
17.8. The Client undertakes neither to create nor to have outstanding any security interest whatsoever over, nor to agree to assign or transfer, any of the Margin transferred to the Company.
17.9. If you have more than one Trading Account with us, each Trading Account will be treated entirely separately. Therefore, any credit on one Trading Account (including amounts deposited as margin) will not discharge your liabilities in respect of any other Trading Account. It is your responsibility to ensure the required level of margin is in place for each Trading Account separately.
18.1. Upon completing a Transaction:
- You shall be liable for the Difference if the Transaction is:
(i) a Sell, and the closing price of the Transaction is higher than the opening price of the Transaction; or
(ii) a Buy, and the closing price of the Transaction is lower than the opening price of the Transaction.
- You shall receive the Difference if the Transaction is:
(i) a Sell, and the closing price of the Transaction is lower than the opening price of the Transaction; or
(ii) a Buy, and the closing price of the Transaction is higher than the opening price of the Transaction.
18.2. Unless we agree otherwise, all sums for which either Party is liable under paragraph 18.1 above in this Client Agreement are immediacy payable upon closing of the Transaction. You hereby authorise us to debit or credit your Trading Account with the relevant sums at the closing of each Transaction. It is understood that once you place an Order, until such Order is executed and the Transaction is closed, the Maintenance Margin shall not be used as collateral and hence shall be unavailable for withdrawal.
18.3. You shall be liable for any and all taxes, fees and assessments with respect to any Transaction you complete on the Trading Platform. It is your obligation alone to calculate and pay all taxes applicable to you in your country of residence, or otherwise arising as a result of your trading activity from the use of the Trading Platform.
18.4. Notwithstanding the above, if required by applicable law, the Company shall deduct at source from any payments due to you such amounts as are required by the tax authorities to be deducted in accordance with applicable law.
18.5. It is possible that other costs, including taxes, relating to transactions carried out on the Trading Platform may arise for which you are liable and which are neither paid via us nor imposed by us. Without derogating from your sole and entire responsibility to account for tax due, you agree that we may deduct tax, as may be required by the applicable law, with respect to your trading activity on the Trading Platform. You are aware that we have a right of set-off against any amounts in your Trading Account with respect to such tax deductions, and you hereby authorize us to withdraw amounts from your Trading Account with which to pay such taxes. You shall have no claim against us with regard to such deductions. You further agree that such deductions do not derogate from our rights to make Margin Calls under this Agreement.
18.6. You undertake to pay all stamp expenses relating to this Agreement and any documentation which may be required for the carrying out of the Transactions under this Agreement.
18.7. It is hereby clarified that in relation to CFD trading, you are required to pay the Difference. A swap fee is also applicable for CFDs trading, as explained on our Website. In addition, the Company reserves the right to charge commissions or add fees or charges for opening a Position in CFDs in the future, upon providing a prior Written Notice to the Client. Commissions may be charged either in the form of a percentage of the overall value of the trade or as fixed amounts.
18.8. The applicable fees or charges or commissions, from time to time, may be found on the Company’s Website.
18.9. The Company has the right to vary its fees, charges and commissions from time to time according to the provisions of paragraph 24.7 of this Client Agreement.
18.10. Should your country of residence operate regulations or laws which restrict the use of currency or require you to report receipts and payments of that currency to a regulator or legal authority, you agree that you will fulfil any reporting obligations or obtain any required consents or approvals which may arise as a result of your use of the Trading Platform or associated transactions.
19.1. The Client may deposit funds into the Trading Account at any time during the course of this Agreement.
Deposits will be made via wire transfer or any other the methods accepted by the Company from time to
time. The Company will not accept third party or anonymous payments in the Trading Account. Deposits for
Margin and any other deposits due will, unless otherwise agreed or specified by us, be required in the
Currency of the Trading Account, based on your country of origin as specified in your address and as shall be
specified on the Trading Platform. The detailed information about deposit options is shown on the Website.
19.2. The Company shall have the right to request the Client at any time any documentation to confirm the source of funds deposited into the Trading Account. The Company shall have the right to reject a deposit of the Client if the Company is not duly satisfied as to the legality of the source of funds.
19.3. If you deposit funds in a currency other than your Base Currency, we shall pass on any charges that we have incurred in that conversion. Where we convert currency, we shall use a rate determined by us.
19.4. The Company shall affect withdrawals of Client funds upon the Company receiving a relevant request from the Client in the method accepted by the Company from time to time.
19.5. Upon the Company receiving an instruction from the Client to withdraw funds from the Trading Account, the Company shall pay the said amount within five (5) Business Days, if the following requirements are met:
(a) the withdrawal instruction includes all necessary information in the Personal Area;
(b) the instruction is to make a transfer to the originating account (whether that is a bank account, a payment system account etc.) from which the money was originally deposited in the Trading Account or at the Client’s request to a bank account belonging to the Client;
(c) the account where the transfer is to be made belongs to the Client;
(d) at the moment of payment, the Client’s Balance exceeds the amount specified in the withdrawal instruction including all payment charges;
(e) there is no Force Majeure event which prohibiting the Company from effecting the withdrawal.
(f) the Client and must be fully verified according to Verification guidelines set forth on the Website. In case any of the above-mentioned conditions have not been met, the Company shall at its sole discretion take any necessary actions to ensure that (i) the identity of the Client is appropriately verified, (ii) the transfer is effected to the account that belongs to the Client, (iii) the Client has sufficient funds in his Client Account in order to maintain all Open Positions. All such necessary actions shall be processed in a reasonable time, which may exceed the time period set out in paragraph.
19.6. It is agreed and understood that withdrawals will only be affected towards the Client. The Company will not to make withdrawals to any other third party or anonymous account.
19.7. The manner in which we remit monies to you will be in our absolute discretion. The Company reserves the right to decline a withdrawal request of the Client asking for a specific transfer method and the Company has the right to suggest an alternative.
19.8. All payment and transfer charges of third parties will be borne by the Client and the Company shall debit the relevant Trading Account for these charges.
19.9. Withdrawal fees may apply from time to time depending on the Client or type of Trading Account. The applicable fees may be found on the Company’s Website.
19.10. Mistakes made by the Company during transfer of funds shall be refunded to the Client. It is understood that should the Client provide wrong instructions for a transfer, the Company may be unable to correct the mistake and the Client may have to bear the loss.
19.11. We reserve the right to seek reimbursement from you, if we receive a charge-back from any credit card issuer or with respect to any other payment method, for any reason. We may obtain such reimbursement by charging your Trading Account, deducting amounts from future payments owed to you, charging your credit card or obtaining reimbursement from you by any other lawful means. All bank charges howsoever arising will be deducted from your Trading Account.
20.1. The Company will promptly place any Client money it receives into one or more segregated account(s)
with reliable financial institutions such as a credit institution or a bank in a third country.
20.2. Segregation of Client money does not protect the Client’s money from a risk of loss.
20.3. It is understood that the Company may hold Client money and the money of other clients in the same account (omnibus account).
20.4. Client money is only withdrawn from the segregated account to:
a) Process a withdrawal for the Client;
b) Transfer Margin to a Liquidity Provider;
c) Withdraw fees charges as a part of a deposit or withdrawal transaction;
d) Pay money to the Company if such money is owed to the Company as a result of the Client’s trading activity with the Company.
e) Make a payment which is otherwise authorised by the law or in compliance with the rules of a licenced market;
f) Hedge, counteract or offset the risk incurred by the Company in relation to the transactions with the Client.
20.5. You agree that when the Client money is moved from the segregated account to the Liquidity provider, it is no longer afforded the protection of being held in trust.
20.6. You agree that the Company may transfer the monies from your Trading Account for the purpose of authorised hedging activities.
20.7. You agree that the Client money to the Liquidity provider as is reasonably required for entering into derivatives with the Liquidity provider or for settling or securing those derivatives with the Liquidity provider.
20.8. The financial institution to which the Company will pass Client money (as per paragraph 20.1 of this Client Agreement) 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.
20.9. The Company shall not account to the Client for profits or interest earned on Client money (other than profit gained through trading Transactions from his Trading Account(s) under this Agreement) and the Client waives all right to interest.
20.10. The Company may deposit Client money in overnight deposits and will be allowed to keep any interest.
20.11. The Company may hold Client money on the Client’s behalf in a segregated Account located outside Mauritius or pass money held on the Client’s behalf to an intermediate broker, settlement agent or OTC counterparty located outside Mauritius. The legal and regulatory regime applying to any such person will be different from that of Mauritius and in the event of the insolvency or any other equivalent failure of that person, the Client’s money may be treated differently from the treatment which would apply if the money was held in a Segregated Account in Mauritius. The Company will not be liable for the solvency, acts or omissions of any third party referred to in this clause. The Company will exercise all due skill, care and diligence in assessing whether adequate measures will be applied by the third party to protect Client money.
20.12. It is agreed that the Company shall have the right to transfer the Client money to successors or assignees or transferees or buyers, with ten (10) Business Days prior Written Notice to the Client for the purposes of paragraph 38 of the Agreement.
20.13. The Company shall not grant security interests, liens or rights of set-off over Client money enabling a third party to dispose of the Client's money in order to recover debts that do not relate to the Client or provision of services to the Client, unless this is required by applicable law in a third country jurisdiction in which the Client money may be held. If the Company will enter into such an agreement, it will amend this Client Agreement accordingly to reflect this.
21.1. The Company shall have a general lien on all funds held by the Company on the Client’s behalf until the satisfaction of the Client’s obligations.
22.1. If the aggregate amount payable by the Client is equal to the aggregate amount payable by the
Company, then automatically the mutual obligations to make payment are set-off and cancel each other.
22.2. If the aggregate amount payable by one party exceeds the aggregate amount payable by the other party, then the party with the larger aggregate amount shall pay the excess to the other party and all obligations to make payment will be automatically satisfied and discharged.
22.3. The Company has the right to combine all or any Trading Accounts opened in the Client name and to consolidate the Balances in such accounts and to set-off such Balances in the event of termination of the Agreement.
22.4. It should be noted that the Company operates on a “negative balance protection” basis. This means that the Client cannot lose more than his/her overall investment in each Trading Account.
23.1 Inactivity Fees
Fees may be payable by you by virtue of the fact that the Trading Platform is continually provided to you for
trading, regardless of your actual use. If there are no transactions (deposits, withdrawals or trading activity)
on your Trading Account for a period of at least two (2) months or more, the Company reserves the right, to
charge a monthly inactivity fee on your Trading Account, in return for the provision of the continued
availability of your Trading Account. You agree that you are liable to and will pay the applicable fee as notified
to you from time to time and that we may deduct such fee from any funds held by us on your behalf. The
monthly inactivity fee might increase as the total period of inactivity increases. The exact fee schedule will
be calculated according to the currency denomination of your Trading Account and is set out as follows or
as changed by the Company from time to time and notified to the Client:
23.2. If the Trading Account is inactive for two (2) years or more, and after notifying the Client in its last known contact details, the Company reserves the right to close the Trading Account and render it dormant. Money in the dormant account shall remain owing to the Client and the Company shall make and retain records and return such funds upon request by the Client at any time thereafter.
24.1. The Company may upgrade the Trading Account, convert Trading Account type, upgrade or replace the
Trading Platform or enhance the services offered to the Client if it reasonably considers this is to the Clients
advantage and there is no increased cost to the Client as a result of the change.
24.2. The Company may also change any terms of the Agreement for any of the following reasons:
(a) Where the Company reasonably considers that the change would make the terms of the Agreement easier to understand; or the change would not be to the disadvantage of the Client;
(b) To cover the involvement of any service or facility the Company offers to the Client; or the introduction of a new service or facility; or the replacement of an existing service or facility with a new one; or the withdrawal of a service or facility which has become obsolete, or has ceased to be widely used, or has not been used by the Client at any time in the previous year, or it has become very expensive for the Company to offer;
(c) To enable the Company to make reasonable changes to the services offered to the Client as a result of changes in the banking, investment or financial system; or technology; or the systems or Platform used by the Company to run its business or offer the Services hereunder;
(d) As a result of a request of the FSC or of any other authority or as a result of change or expected change in Applicable Regulations;
(e) Where the Company finds that any term in the Agreement is inconsistent with Applicable Regulations. In such a case, it will not rely on that term but treat it as if it did reflect the relevant Applicable Regulations and shall update the Agreement to reflect the Applicable Regulations.
24.3. As long as the Client is able to end the Agreement without charge, the Company may change any of the terms of the Agreement for any serious reason not listed under paragraph 24.2 of this Client Agreement.
24.4. For any change made under paragraphs 24.2 and 24.3 herein, the Company shall provide the Client with advance notice. However, the Client acknowledges that a change which is made to reflect a change of Applicable Regulations may, if necessary, take effect immediately.
24.5. For any change made under (a), (d) and (e) of paragraph 24.2 herein, the notice of the Company shall be a Written Notice including a post on the Company’s Website. For any other change of the Client Agreement the Company, where the Company elects to provide such Written Notice via a post on the Website, the Company shall also provide the said Written Notice with an additional means of Written Notice.
24.6. When the Company provides Written Notice of changes under paragraphs 24.2 and 24.3 herein, it shall inform the Client of the date it comes into effect. The Client shall be treated as accepting the change on that date unless, before then, the Client informs the Company that the Client wishes to terminate the Agreement and not accept the change. The Client shall not have to pay any charges as a result of terminating in this case, other than costs due and payable for Services offered until the termination.
24.7. The Company shall have the right to review its costs, fees, charges, commissions, financing fees, swaps, trading conditions, execution rules, roll over policy and trading times, found on the Company’s website and/or Platform, from time to time. Such changes shall be effected on the Website and /or the Platform and the Client is responsible to check for updates regularly. In the absence of a Force Majeure event, the Company shall be providing the Client with advance notice on its Website of at least 5 Business Days where the where the Client is natural person and three Business Days where the Client is a legal person. The Client shall be treated as accepting the change on that date unless, before then, the Client informs the Company that the Client wishes to terminate the Agreement and not accept the change. The Client shall not have to pay any charges as a result of terminating in this case, other than costs due and payable for Services offered until the termination.
24.8. The Company shall have the right to review the Client’s categorization, according to Applicable Regulations and inform the Client accordingly of the change before it comes into effect by providing the Client with advance notice of at least five (5) Business Days. The Client shall be treated as accepting the change on that date unless, before then, the Client informs the Company that the Client wishes to terminate the Agreement and not accept the change.
25.1. The Agreement shall take effect and commence upon the receipt by the Client of a notice sent by the
Company informing the Client that he has been accepted as the Company’s Client or that a Trading Account
has been opened for him.
25.2. Without prejudice to the Company’s rights under this Agreement to terminate it immediately without prior notice to the Client, the Company may terminate this Agreement with immediate effect by giving a Written Notice to the Client. The Client shall have the right to terminate this Agreement with immediate effect by giving at least seven Business Days Written Notice to the Company.
25.3. Termination by any Party will not affect any obligation which has already been incurred by either Party or any legal rights or obligations which may already have arisen under the Agreement or any Transactions made hereunder.
25.4. Upon termination of this Agreement, all amounts payable by the Client to the Company will become immediately due and payable including (but without limitation) all outstanding costs and any other amounts payable to the Company, any charges and additional expenses incurred or to be incurred by the Company as a result of the termination of the Agreement.
25.5. Once notice of termination of this Agreement is sent and before the termination date:
(a) the Client will have an obligation close all his Open Positions. If he fails to do so, upon termination, the Company will close any Open Positions at current prices;
(b) the Company will be entitled to cease to grant the Client access to the Platform(s) or may limit the functionalities the Client is allowed to use on the Platform(s);
(c) the Company will be entitled to refuse to accept new Orders from the Client;
(d) the Company will be entitled to refuse to the Client to withdraw money from the Trading Account and the Company reserves the right to keep Client’s funds as necessary to close positions which have already been opened and/or pay any pending obligations of the Client under the Agreement.
25.6. Upon Termination any or all the following may apply:
(a) The Company has the right to combine any Trading Accounts of the Client, to consolidate the Balances in such Trading Accounts and to set off those Balances;
(b) The Company has the right to close the Trading Account(s);
(c) The Company has the right to convert any currency in the Trading Accounts;
(d) The Company has the right to close out the Client’s Open Positions;
(e) In absence of illegal activity or suspected illegal activity or fraud of the Client or instructions from the relevant authorities, if there is Balance in the Client’s favour, the Company will (after withholding such amounts that in the Company’s absolute discretion considers appropriate in respect of future liabilities) pay such Balance to the Client as soon as reasonably practicable and supply him with a statement showing how that Balance was arrived at and, where appropriate, instruct any Nominee or/and any Custodian to also pay any applicable amounts. Such funds shall be delivered in accordance to the Client’s Instructions to the Client. It is understood that the Company will effect payments only to an account in the name of the Client. The Company has the right to refuse, at its discretion, to effect thirty party payments. In the event that the Client fails to provide instructions or the Client cannot be reached at his last known address, the Company shall forward such funds (at its sole discretion) directly to his bank account as notified to us or by way of a check sent by mail to the address recorded in his Registration Data. It is the Client’s responsibility to update his Registration Data, the company having no liability towards the Client for any lost money.
26.1. Each of the following constitutes an “Event of Default”:
(a) The failure of the Client to perform any obligation due to the Company.
(b) The initiation by a third party of proceedings for the Client’s bankruptcy (if the Client is an individual) or for the Client’s winding-up or for the appointment of an administrator or receiver in respect of the Client or any of the Client’s assets (if the Client is a company) or (in both cases) if the Client makes an arrangement or composition with the Client’s creditors or any procedure which is similar or analogous to any of the above is commenced in respect of the Client;
(c) The failure of the Client to provide any Initial Margin and/or Hedged Margin, or other amount due under the Agreement;
(d) The failure of the Client to submit any identification documentation and/or any other information as required by the Company from time to time;
(e) The failure of the Client to perform any obligation due to the Company emanating from the Agreement or any other documents concluded with the Company;
(f) The Client is unable to pay the Client’s debts when they fall due.
(g) Where any representation or warranty made by the Client in paragraph 27 of this Client Agreement is or becomes untrue.
(h) The Client (if the Client is an individual) dies or is declared absent or becomes of unsound mind.
(i) Any other circumstance where the Company reasonably believes that it is necessary or desirable to take any action set out in paragraph 26.2 of this Client Agreement.
(j) An action set out in paragraph 26.2 is required by a competent regulatory authority or body or court.
(k) The Client involves the Company in any type of fraud or illegality or breach of Applicable Regulations or is at risk of involving the Company in any type of fraud or illegality or breach of Applicable Regulations.
(l) In cases of material violation by the Client of the requirements established by legislation of Mauritius or other countries, such materiality determined in good faith by the Company.
(m)If the Company suspects that the Client is engaged into money laundering activities, or terrorist financing, or card fraud, or other criminal activities.
(n) The Company reasonably suspects that the Client performed a prohibited action as set out in paragraphs 2.13.-2.15, 4.2 and 4.4 of this Client Agreement.
(o) The Company reasonably suspects that the Client performed Abusive Trading.
(p) The Company reasonably suspects that the Client opened the Trading Account fraudulently.
26.2. If an Event of Default occurs the Company may, at its absolute discretion, at any time and without prior Written Notice, take one or more of the following actions:
(a) Terminate this Agreement immediately without prior notice to the Client.
(b) Cancel any Open Positions.
(c) Temporarily or permanently bar access to the Trading Platform or suspend or prohibit any functions of the Platform.
(d) Reject or Decline or refuse to transmit or execute any Order of the Client.
(e) Restrict the Client’s trading activity.
(f) In the case of fraud, reverse the funds back to real owner or according to the instructions of the law enforcement authorities of the relevant country.
(g) Cancel of profits gained through Abusive Trading.
(h) Immediately cancel all trades that were executed by the Client.
(i) Take legal action for any losses suffered by the Company.
27.1. You agree that each of the following representations and warranties are deemed repeated each time
you open or close a Transaction by reference to the circumstances prevailing at such time:
(a) the Registration Data provided to us during registration phase and at any time thereafter is complete, true, accurate and not misleading in all respects and the certificates provided are authentic;
(b) you are of sound mind, legal age and legal competence;
(c) you are duly authorized to execute and deliver the Client Agreements, to open each Transaction and to perform your obligations hereunder and thereunder and have taken all necessary action to authorize such execution, delivery and performance;
(d) you understand how the Transactions hereunder operate before you place an offer to open a Transaction on the Trading Platform. By doing so, you warrant that you understand the terms and conditions of the Client Agreements, and any legal and financial implications thereof;
(e) you have read and understands the Risks Disclosure and Warnings Notice found on the Company’s Website;
(f) you have taken all reasonable steps to understand the specifications and characteristics of the Trading Platform and the associated hardware, software, data processing and telecommunication systems and networks required to access and operate the Trading Platform;
(g) You are acting as a principal and not as agent or representative or trustee or custodian on behalf of someone else. The Client may act on behalf of someone else only if the Company specifically consents to this in writing and provided all the documents required by the Company for this purpose are received;
(h) any person representing you in opening or closing a Transaction will have been, and the person entering into the Client Agreements on your behalf is, duly authorized to do so on your behalf;
(i) you are not an employee of any Underlying Market, a corporation in which any Underlying Market owns a majority of the capital stock, a member of any Underlying Market and/or firm registered on any Underlying Market or any bank, trust or insurance company that trades in Financial Instruments covered under this Agreement between us;
(j) you will not enter into any Transaction for the purposes of arbitrage or to exploit any temporal and/or minor inaccuracy in any rate or price offered on the Trading Platform;
(k) you have obtained all relevant governmental or other authorizations and consents required by you in connection with the Client Agreements and in connection with opening or closing Transactions and such authorizations and consents are in full force and effect and all of their conditions have been and will be complied with;
(l) the execution, delivery and performance of the Agreement and your use of the Trading Platform including each Transaction you complete thereto will not violate any law, ordinance, charter, by-law or rule applicable to you, in the jurisdiction in which you are resident, or any agreement by which you are bound or by which any of your assets are affected;
(m)other than in exceptional circumstances you will not send funds to your Trading Account from any bank account other than as stipulated in the Registration Data. Whether exceptional circumstances exist will be determined by us from time to time;
(n) the Client funds used for trading are not in any direct or indirect way the proceeds of any illegal activity or used or intended to be used for terrorist financing;
(o) you are not a Politically Exposed Person and does not have any relationship (for example relative or business associate) with a person who holds or held in the last twelve months a prominent public position. If the above statement is untrue and in the event that you have not disclosed this already in the Account Opening Application Form, you will inform the Company as soon as possible will notify the Company if at any stage during the course of this Agreement you become a Politically Exposed Person;
(p) you confirm that you have regular access to the internet and consent to the Company providing you with information, including, without limitation, information about amendments to the terms and conditions, costs, fees, this Agreement, Policies and information about the nature and risks of investments by posting such information on the Website and/or email.
27.2. Any breach by you of any of the representations and warranties set forth in paragraph 26.2 or anywhere else in the Client Agreements renders any Transaction voidable from the outset or capable of being closed by us at our then prevailing prices, in our absolute discretion.
28.1. In the event the Company provides the Information as specified in paragraph 8 of this Client
Agreement, the Company shall not, in the absence of its fraud, wilful default or gross negligence, be liable
for any losses, costs, expenses or damages suffered by you arising from any inaccuracy or mistake in any
such information given.
28.2. The Company will not be held liable for any loss or damage or expense or loss incurred in relation to, or directly or indirectly arising from but not limited to certain situation/circumstances specified in this Agreement.
28.3. If the Company, its directors, officers, employees, Affiliates, or agents incur any claims, damage, liability, costs or expenses, which may arise in relation to the execution or as a result of the execution of the Agreement and/or in relation to the provision of the Services and/or in relation to the use of the Platform(s), then the Company, its directors, officers, employees, Affiliates, or agents bear no responsibility whatsoever, and it is your responsibility to indemnify the Company for such.
28.4. The Company shall in no circumstances be liable to you for any consequential, special, incidental or indirect losses, damages, loss of profits, loss of opportunity (including in relation to subsequent market movements), costs or expenses you may suffer in relation to the Agreement, the provision of the Services or the use of the Platform(s).
28.5. The Company’s cumulative liability to you shall not exceed the fees paid to the Company under this Agreement for the Provision of the Services and use of the Platform(s).
29.1. We, specifically, do not warrant that:
(a) the Trading Platform will meet your individual requirements and it is therefore your responsibility to ensure that the facilities and functions of the Trading Platform meet your requirements;
(b) your equipment, software, and communication connections will be compatible with the hardware and software we employ to provide the Trading Platform;
(c) the use of the Trading Platform will be uninterrupted, secure or error-free or free of bugs and you agree that the existence of any minor errors or bugs shall not constitute a breach of this Client Agreement;
(d) we will be able to prevent third party disruptions of and to the operation of the Trading Platform;
(e) errors will be corrected in the Trading Platform; or
(f) we will detect every bug in the Trading Platform.
29.2. You acknowledge that we do not control the transfer of data over telecommunications facilities, including without limitation the internet, nor are we responsible for communication failures, distortions or delays when trading online (via the internet or a mobile service).
29.3. You acknowledge that the trading you conduct on the Trading Platform is not conducted on a recognized Exchange, rather they are undertaken over the counter (OTC) and as such they may expose the Client to greater risks than regulated exchange transactions.
29.4. We hereby further disclaim any, and shall have no, liability or loss resulting from or related to any:
(a) disruption of your connections to the internet;
(b) loss to or corruption of any of your data or records, whether stored on the Trading Platform or not, or lack of back-up thereof;
(c) security breaches resulting in part or in whole from third-party software or networking goods or services or from actions or events outside of our reasonable control;
(d) provision of security-related services that we may voluntarily provide outside the scope of the Client Agreement; and
(e) use of the Trading Platform that is not in strict compliance with the Client Agreement, or any technical documentation we provide to you or make available to you by any other means, including without limitation, on our Website;
(f) any failure by the Company to perform any of its obligations under the Agreement as a result of Force Majeure Event or any other cause beyond its control;
(g) any person obtaining your Account Credentials prior to the Client’s reporting to the Company of the misuse of the same;
(h) unauthorized third persons having access to information, including electronic addresses, electronic communication, personal data and Account Credentials when the above are transmitted between the Parties or any other party, using the internet or other network communication facilities, post, telephone, or any other electronic means;
(i) any of the risks of the Risks Disclosure and Warnings Notice, found on the Company’s Website;
(j) any changes in the rates of tax;
(k) any actions or representations of the Introducer;
(l) the contents, correctness, accuracy and completeness of any communication spread by the use of the Trading Platform;
(m)any acts or omissions (including negligence and fraud) of the Client;
(n) if you are relying on functions such as Trailing Stop, Expert Advisor and Stop Loss Orders;
(o) the occurrence of Slippage; and
(p) Currency risk materializing.
29.5. With respect to any Financial Data or other information that we or any third party service provider provide to you in connection with your use of the Trading Platform:
(a) we and any such provider are not responsible or liable if any such data or information is inaccurate or incomplete in any respect;
(b) we and any such provider are not responsible or liable for any actions that you take or do not take based on such data or information;
(c) you will use such data or information solely in accordance and for the purposes set forth in the Client Agreements;
(d) such data or information is proprietary to us and to third party providers as applicable, and you will not retransmit, redistribute, publish, disclose or display in whole or in part such data or information to third parties except as required by applicable regulations; and
(e) you will use such data or information solely in compliance with any applicable laws and regulations.
30.1. We shall not be liable to you for any loss, save in cases of gross negligence, fraud or wilful default on
30.2. Without prejudice to paragraph 30.1 of this Client Agreement, our aggregate liability to you in respect of all claims arising out of or in connection with the Client Agreement will be limited to the aggregate amount of the deposits less withdrawals on your Trading Account.
30.3. Subject to paragraphs 30.2 and 30.5 of this Agreement, you will be liable to us for:
(a) any loss (whether direct or indirect) of revenue or profits;
(b) any loss (whether direct or indirect) of anticipated savings;
(c) any loss (whether direct or indirect) of goodwill or injury to reputation;
(d) any loss (whether direct or indirect) of business opportunity or arising from business interruption;
(e) any loss (whether direct or indirect) of or corruption to data;
(f) indirect, consequential, incidental, exemplary, punitive or special loss or damage in each case arising out of or in connection with the Client Agreements including without limitation as a result of breach of contract, negligence or any other tort, under statute or otherwise, and regardless of whether either party knew or had reason to know of the possibility of the loss, injury or damage in question.
30.4. Nothing in this paragraph 30 will exclude, limit or restrict either Party’s liability for fraud or fraudulent misrepresentation committed by that Party (or anyone on its behalf).
30.5. Our liability, to the extent applicable, for infringement of third party intellectual property rights shall be limited to breaches of rights subsisting in Mauritius.
30.6. The Client Agreements set out the full extent of our obligations and liabilities in respect of the supply of the Trading Platform. In particular, there are no conditions, warranties, representations or other terms, express or implied, that are binding on us except as specifically stated in the Client Agreements. Any condition, warranty, representation or other term concerning the supply of the Trading Platform which might otherwise be implied into, or incorporated in, the Client Agreements, or any collateral contract, whether by statute, common law or otherwise, is hereby excluded to the fullest extent permitted by law.
30.7. We shall not be held liable and are released from all claims and losses arising out of:
(a) any act or omission by any person obtaining access to your Trading Account or Account Credentials, whether or not you have authorized such access;
(b) delay, failure or error by you in implementing any reasonable instruction we have provided to you;
(c) inaccurate or incomplete instructions received by you;
(d) any reliance or use by you or any other third party with access to your Trading Account of any Financial Data, whether to complete a Transaction on the Trading Platform or for any other purpose whatsoever.
31.1. You hereby authorize us to act on any instruction given or appearing to be given by you on the Trading
Platform via the use of your Account Credentials.
31.2. We shall be entitled, and you hereby authorize us, to rely upon any oral, electronic or written communication or instruction received from you. You agree that:
(a) once logged on to the Trading Platform following entry of the Account Credentials, we are authorized to act upon instructions without enquiring as to the validity of the instructions and to consider the instructions of like force and effect as written orders made by you;
(b) following log-in to the Trading platform, nothing in this paragraph will oblige us to verify the validity of each instruction or the signatures prior to every trade; and
(c) you shall bear the risk of all instructions, whether authorized, unauthorized, improper or fraudulent, even if it transpires such instructions were provided without your authority. You shall indemnify us against and save us harmless from all losses, costs, fees, damages, expenses, claims, suits, demands and liabilities whatsoever that we may suffer or incur or that may be brought against us, in any way relating to or arising out of our acting upon, delay in acting upon or refusal to act upon any such instructions or information.
31.3. Without derogating from the above, we will not be under any duty to act in accordance with any instruction if we reasonably believe that:
(a) the person who provided such an instruction was acting in excess of his authority;
(b) acting upon such an instruction would infringe any law, rule, regulation or the Client Agreements; or
(c) in the event that we have accepted an offer to perform a Transaction that we later suspect falls within points (a) and (b) hereunder this paragraph 31.3, we may, in our absolute discretion, either close such a Transaction at the then prevailing price quoted on the Trading Platform or treat the Transaction as having been void from the outset. Nothing in this paragraph shall be construed as an obligation on our part to inquire about the authority of any person who purports to represent you.
31.4. Any offer to open or close a Transaction (including an Order) must be made by you through the Trading Platform only, or via phone subject to conditions of paragraph 36.2 of this Client Agreement. Written offers to open or close a Transaction, including offers sent by fax, email or text message will not be accepted.
31.5. If we receive an offer to open or close a Transaction other than in accordance with paragraph 31.4 of this Client Agreement, we may act on such an offer, in our absolute discretion, however we will not be responsible for any loss, damage or cost that you suffer or incur arising out of any error, delay or omission in our acting or refusing to act on such an offer.
32.1. In cases where the Client is introduced to the Company through a third person such as a business
introducer or associate network who performs marketing for the Company (both called “Introducer”), the
Client acknowledges that the Company is not bound by any separate agreements entered into between the
Client and the Introducer. It is also made clear that the Introducers are not authorized to bind the Company
in any way, to offer credit in the Company’s name, to offer guarantees against losses, to offer investment
services or legal, investment or tax advice in the Company’s name.
32.2. The Client acknowledges and confirms that the Company may pay the Introducer with a fee.
33.1. The Company may pay and/or receive fees and/or commissions and/or any non-monetary benefits to
and/or from third parties. The Company will ensure that they will only accept and/or pay such fees and/or
commissions and/or any non-monetary benefits to and/or from any third parties at their own reasonable
belief that such benefits will enhance the quality of the offered services to the Client. The Company will
ensure that such fees and/or commissions and/or non-monetary benefit do not impair the duty to act in the
best interests of the Client.
33.2. When the Company deals with or for the Client, the Company, an associate or some other person connected with the Company, may have an interest, relationship or arrangement that is material in relation to the transaction concerned or that conflicts with the Client’s interest.
33.3. The Client consents to and authorizes the Company to deal with or for the Client in any manner which the Company considers appropriate, notwithstanding any conflict of interest or the existence of any material interest in a Transaction, without prior reference to the Client. The Company’s employees are required to comply with a policy of independence and to disregard any such material interest or conflict of.
33.4. Under the applicable laws, the Company is required to take all reasonable steps to detect and avoid conflicts of interest. The Company is committed to act honestly, fairly and professionally and in the best interests of its Clients and to comply, in particular, with the principles set out in the laws when providing the Services.
34.1. If any conflict situation arises when the Client reasonably believes that the Company as a result of any
action or failure to act has breached one or more of the terms of this Agreement, the Client has the right to
lodge a complaint with the Company as soon as reasonably practicable after the occurrence of the event.
34.2. We will try to resolve any such complaint or dispute without undue delay and it will be handled in accordance with our complaints procedures that are available on our Website. If you are dissatisfied with the outcome of any investigation or action taken by us, you may refer the complaint to the FSC.
34.3. If a situation arises which is not expressly covered by this Agreement, the Parties agree to try to resolve the matter on the basis of good faith and fairness and by taking such action as is consistent with market practice.
34.4. The Client’s right to take legal action remains unaffected by the existence or use of any complaints procedures referred to above.
35.1. You will open each Transaction with us as principal and not as agent for any person. This means that unless we have otherwise agreed in writing, we will treat you as our Client for all purposes and you will be directly and personally responsible for performing your obligations under each Transaction entered into by you. If you act in connection with or on behalf of someone else, whether or not you identify that person to us or not, we will not accept that person as a Client of ours and we will accept no obligation to them unless otherwise specifically agreed in writing.
36.1. Unless the contrary is specifically provided in this Agreement, any notice, request or other
communication (other than Orders which shall be given only in accordance to paragraph 36.2 hereunder) to
be given to the Company by the Client under the Agreement shall be sent to the Company’s registered
address (or to any other address which the Company may from time to time specify to the Client for this
purpose), by email, post if posted in Mauritius, or airmail if posted outside Mauritius, or commercial courier
service and shall be deemed delivered only when actually received by the Company at the contact details
appearing in the first page.
36.2. It is agreed and understood that Orders shall be placed on the Trading Platform and shall not be communicated to the Company in any other means. Only when the Trading Platform is not operational, Orders may be placed via phone, as per paragraph 14.2 b. above.
36.3. In order to communicate with the Client, the Company may use any of the following methods: email, telephone, post, commercial courier service, air mail or the Company’s Website or Personal Area.
36.4. The Company shall contact the Client at the contact details on his Registration Data. Hence, the Client has an obligation to notify the Company immediately of any change in the Client’s contact details.
36.5. The following methods of communication are considered as Written Notice from the Company to the Client: email, SMS, Platform’s notification, post, commercial courier service, air mail or the Company’s Website. The following methods of communication are considered as Written Notice from the Client to the Company: email, post, commercial courier service or air mail or commercial courier.
36.6. Any communications sent to the Client (documents, notices, confirmations, statements, reports etc.) are deemed received:
(a) If sent by email, within one hour after emailing it and provided the email has left from the Company’s outlook.
(b) If sent by the Platform’s internal mail, immediately after sending it.
(c) If sent by facsimile transmission, upon receipt by the sender of a transmission report.
(d) If sent by telephone, once the telephone conversation has been finished.
(e) If sent by post, seven calendar days after posting it.
(f) If sent via commercial courier service, at the date of signing of the document on receipt of such notice.
(g) If sent by air mail, eight Business Days after the date of their dispatch.
(h) If posted on the Company Webpage, within one hour after it has been posted.
(i) if posted on the Personal Area or Website, immediately once posted.
36.7. The Language in which the Client may communicate with the Company is English, which is the Company’s official language. It is clarified that all documents and information provided by the Company shall be in English. Translation or information provided in languages other than English is for informational purposes only and do not bind the Company or have any legal effect whatsoever, the Company having no responsibility or liability regarding the correctness of the information therein and the Client should also refer to the English version and the Website for information on the Company and its policies.
37.1. The Client Agreement set out the entire agreement and understanding between the parties in respect
of the matters dealt with in them. They supersede any previous agreement or understanding between you
and us in respect of their subject matter.
37.2. You represent and agree that in entering into the Client Agreement you do not rely on, and will have no remedy in respect of, any statement, representation, warranty or understanding (whether negligently or innocently made) of any person (whether party to the Client Agreements or not) other than as expressly set out in the Client Agreement.
38.1. Should any part of this Agreement be held by any Court of competent jurisdiction to be unenforceable or illegal or contravene any rule, regulation or by law of any Underlying Market or regulator, that part will be deemed to have been excluded from this Agreement from the beginning, and this Agreement will be interpreted and enforced as though the provision had never been included and the legality or enforceability of the remaining provisions of the Agreement or the legality, validity or enforceability of this provision in accordance with the law and/or regulation of any other jurisdiction, shall not be affected.
39.1. Any failure to exercise or any delay in exercising a right or remedy provided by the Client Agreement
will not constitute a waiver of the right or remedy or a waiver of any other rights or remedies. A waiver of a
breach of any of the terms of the Client Agreement will not constitute a waiver of any other breach and will
not affect the other terms of the Client Agreement.
39.2. The rights and remedies provided by the Client Agreement are cumulative and (except as otherwise provided in the Client Agreements) are not exclusive of any rights or remedies provided at law or in equity.
39.3. Where the Client comprises two or more persons, the liabilities and obligations under the Agreement shall be joint and several. Any warning or other notice given to one of the persons which form the Client shall be deemed to have been given to all the persons who form the Client. Any Order given by one of the persons who form the Client shall be deemed to have been given by all the persons who form the Client.
40.1. You may not assign or transfer any of your rights or delegate any of your obligations under the Client
Agreements, whether by operation of law or otherwise, either on a permanent or temporary basis to a third
party without our prior written consent.
40.2. You acknowledge and agree that we may assign our rights or obligations under the Client Agreements or the entire Agreement to a successor of all or substantially all of our business or assets without prior written consent but subject to providing previous five Business Days Written Notice to you. The Company may sell, transfer or otherwise share some or all of your assets, including among others your Registration Data, personal information and Log Data, in connection with a merger, acquisition, reorganization or sale of all or substantially all of our shares or assets, or in the event of our bankruptcy and may also transfer your Client money under the same circumstances.
41.1. The interpretation, construction, effect and enforceability of the Client Agreements shall be governed
by the laws of Mauritius, and you and we agree to submit to the exclusive jurisdiction of the Mauritius courts
for the determination of disputes. You agree all Transactions carried out on the Trading Platform are
governed by Mauritius laws regardless of your location.
41.2. All transactions on behalf of the Client shall be subject to Applicable Regulations and any other public authorities which govern the operation of the Mauritius firms, as they are amended or modified from time to time. The Company shall be entitled to take or omit to take any measures which it considers necessary to ensure compliance with the Applicable Regulations and the relevant market rules. Any such measures as may be taken shall be binding on the Client.
Fortrade Mauritius Ltd. is authorised and regulated by the Financial Services Commission, Mauritius (FSC), SEC-2.1B investment dealer number: GB21026472. (REV: CLIENT AGREEMENT 01_March_2022)