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Terms of Use

This client agreement, together with any Schedule(s) and accompanying documents, as amended from time to time (hereafter the "Agreement") sets out the terms of the contract between you and us. By accepting this agreement, it is assured that you understand and agree with the terms of this agreement and consent to regard all information and acceptance through the website as a durable medium.

Note:The English version of this agreement is the governing version and shall prevail whenever there is any discrepancy between the English version and the other versions.

  1. INTRODUCTION – ABOUT US

    Nextrade Worldwide Ltd (hereafter the "Company"), is a Cyprus Investment Firm that provides investment and ancillary services, as these are defined throughout this Agreement, through its electronic system over the Internet (hereafter the "Trading Platforms").

    Nextrade Worldwide Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission ("CySEC"), under authorisation number CIF 229/14. The registered office of the Company is situated at No 3. Pythagoras Street, Pythagoras Court, 4th Floor, 3027 Limassol, Cyprus. The Company will provide investment services strictly under the terms and conditions defined throughout the Agreement.

    The relationship between the Customer and the Company shall be governed by this Agreement. As this Agreement is a distance contract, it is amongst others, governed by the Distance Marketing of Consumer Financial Services Law N24(I)/2004, implementing the EU Directive 2002/65/EC, under which signing the Agreement is not required and the Agreement has the same rights and liabilities as a duly signed contract. In the case where you, the Customer, wish to have a signed Agreement, the Customer should print and send 2 (two) copies to the Company, where the Company will sign and stamp the Agreements and send a copy back to the Customer.

    We reserve the right to amend, modify, update and change any of the terms and conditions of this Agreement, from time to time, and we will notify you of any such amendment, modification or change by publishing the new version of this Agreement on the relevant page of our Internet sites. Any modified version of this Agreement will take effect 5 days after its publication on the Internet Site and your continued use of the Services or the will be deemed to constitute your acceptance of the changes to this Agreement. It remains your responsibility to ensure that you are aware of the correct, current terms and conditions of this Agreement and we advise you to check for updates on a regular basis.

    This Client Agreement with the following documents found on the Company’s Website, as amended from time to time: Client Categorisation Policy, Investor Compensation Fund Policy, Risk Disclosure, Conflicts of Interest Policy, Best Execuation Policy, Trading Rules, Privacy Policy and Complaints and Resolution Procedure (together, the "Agreement") set out the terms upon which the Company will offer Services to the Client. In addition, the various documents above sets out the matters which the Company is required to disclose to the Client under the Applicable Regulations.

    The Agreement overrides any other agreements, arrangements, express or implied statements made by the Company or any Introducer(s).

  2. COMMUNICATION WITH US

    You may communicate with us in writing (including fax), by email or other electronic means, or orally (including by telephone). The language of communication shall be English and you will receive documents and other information from us in English. However, where appropriate and for your convenience, we will endeavor to communicate with you in other languages.

    All communications sent to you shall be deemed delivered, at the time of delivery when sent by e-mail, facsimile, notified through the Trading Platforms or the Website or within five (5) Business Days if posted by mail. Communications by the Client shall be deemed delivered only when actually received by the Company.

    The Company is free to use any idea, concept, know-how or technique or information contained in your communications for any purpose including, but not limited to, developing and marketing products. The Company records and monitors your communications to evaluate the quality of service you receive, your compliance with this Agreement, the security of the website, or for other reasons. You agree that such monitoring activities will not entitle you to any course of action or other right with respect to the manner in which the Company monitors your communications.

  3. ELIGIBILITY

    Services are available and reserved only for individuals who can form a legally binding contract under the laws applicable in their country of residence. Without limiting the below mentioned terms, our Services are available to persons who are 21 years of age or older. To avoid any doubt, we disclaim any liability for unauthorized use by Minors of our Services in any manner or another.

    Without limiting the above-mentioned provisions, our Services are not available in areas where their use is illegal and the Company reserves the right to refuse and/or cancel access to its Services to anyone at its sole convenience.

    For avoidance of doubt, the ability to access our website does not necessarily mean that our services, and/or your activities through it, are legal under the laws, regulations or directives relevant to your country of residency.

    Our services are not currently available to residents and/or citizens of the following countries: Afghanistan, Algeria, Australia, Iran, Israel Myanmar, North Korea, Sudan, Syria and USA. Other countries may also be subject to restrictions which is at the sole discretion of the Company.

  4. DEFINITIONS – INTERPRETATION

    "Account" means the personal trading account the Client maintains with the Company and designated with a particular account number.

    "Access Codes" means the username and password given by the Company to the Client for accessing the Company’s website.

    "Agreement" means these Terms and Conditions for the Services offered by the Company and the following documents found on the Company’s Website: the Client Categorisation Policy, Investor Compensation Fund, Risks Disclosure, Order Execution Policy, Conflicts of Interest Policy, as amended from time to time and any subsequent Appendices added thereto..

    "Applicable Regulations" means CySEC Legislation, Directives, Circulars or other Regulations issued by CySEC and govern the operations of Cyprus Investment Firms and all applicable laws and rules in force from time to time.

    "Balance" means the sum held on behalf of the Client on its Client Account within any period of time.

    "Business Day" means a day which is not a Saturday or a Sunday or a public holiday in Cyprus or any other holiday to be announced by the Company on its website.

    "CIF Authorisation" means the license the Company has obtained from CySEC, as this may be amended from time to time and which sets out the investment and ancillary services the Company is authorized to provide.

    "Company’s website" means the following website is www.stockpair.com.

    "CySEC" means the Cyprus Securities and Exchange Commission.

    "Execution" means the execution of clients’ orders on the Company’s trading platform, where the Company acts as an Agent to Clients’ transactions.

    "Financial Markets" means international financial markets in which financial instruments exchange rates are determined in multi-party trade.

    "Financial Instruments" means any of the financial instruments offered by the Company and which are defined as such under applicable Law or Regulation. According to the Company’s license these are:

    1. Transferable Securities
    2. Money Market instruments
    3. Units in collective investment undertakings
    4. Options, futures, swaps, forward rate agreements and any other derivative contracts relating to securities, currencies, interest rates or yields, or other derivatives instruments, financial indices or financial measures which may be settled physically or in cash.
    5. Options, futures, swaps, forward rate agreements and any other derivative contracts relating to commodities that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of a default or other termination event).
    6. Options, futures, swaps, and any other derivative contract relating to commodities that can be physically settled provided that they are traded on a regulated market or/and an MTF.
    7. Options, futures, swaps, forwards and any other derivative contracts relating to commodities, that can be physically settled not otherwise mentioned in point (vi) above and not being for commercial purposes, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are cleared and settled through recognised clearing houses or are subject to regular margin calls.
    8. Derivative instruments for the transfer of credit risk.
    9. Financial contracts for differences.
    10. Options, futures, swaps, forward rate agreements and any other derivative contracts relating to climatic variables, freight rates, emission allowances or inflation rates or other official economic statistics that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of a default or other termination event), as well as any other derivative contract relating to assets, rights, obligations, indices and measures not otherwise mentioned in this Part, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are traded on a regulated market or an MTF, are cleared and settled through recognised clearing houses or are subject to regular margin calls.

    "Operating (Trading) Time of the Company" means period of time within a business week, where the trading platform of the Company provides the opportunity of trading operations. The Company reserves the right to alter this period of time as fit, upon notification to the Client.

    "Order" means the request / instruction given by the Client to the Company to Open or Close a Position in the Client’s Account

    "Services" means the investment and ancillary services which will be provided by the Company to the clients and are governed by this Agreement as these are described in this Agreement.

    "Transaction" means any type of transaction subject to this Agreement affected in the Client’s trading account(s) including but not limited to Deposit, Withdrawal, Open Trades, Closed Trades and any other transaction of any financial instrument.

    In this Agreement, all the words that denote only the singular number will also comprise the plural, wherever the aforementioned definitions apply and vice versa, and the words that denote natural persons will comprise legal persons and vice versa. Words denoting any gender include all the genders and whenever reference is made to the terms "Paragraphs", "Sections" and "Appendices" it concerns paragraphs, sections and appendices of this Agreement.

    The headings of the Sections are only used for facilitating the reference and they do not affect their interpretation. References to any law or regulation will be considered to comprise references to that law or regulation as this can be altered or replaced from time to time or, similarly, to be extended, re-enacted or amended.

  5. PROVISION OF SERVICES

    The following are the investment services which the Company is authorized to provide in accordance with its CIF authorization are governed by this Agreement:

    • Reception and transmission of orders in relation to the Financial Instruments the Company is authorised to provide.
    • Execution of orders on behalf of clients.
    • In addition, the Company will provide to you with the following ancillary services:
    • Safekeeping and administration of financial instruments, including custodianship and related services.
    • Granting credits or loans to an investor to allow him to carry out a transaction in one or more financial instruments, where the firm granting the credit or loan is involved in the transaction.
    • Foreign exchange services where these are connected to the provision of investment services.

    It shall be clarified and noted that the Company deals on an execution-only basis and does not advise on the merits of particular transactions,, or their taxation consequences.

    You assume all responsibility in relation to any investment strategy, transaction or investment, tax costs, and for any consequences brought by from any transaction that you perform and the Company shall not be held responsible nor shall you rely on the Company for the aforementioned.

    Where the Company provides general trading Information, Research, market commentary or other information in its newsletters, and/or website broadcasts, links to both internal and external websites, such as investment research providers, relevant to the content and the nature of our services. The scope of this information is to provide you with relevant information to our services, to keep you up to date with the market news, and to give you some background information on the market. These links are not recommendations or advertisement by a third party, but they are to be used purely for information and reference. Hence, we do not assume any liability on the accuracy of such information or for the content of the links and we are not bound by it.

    You may be asked to register or subscribe before viewing the content of external links; it is upon your discretion to do so. We do not hold ourselves liable for the material of those links, and / or any exposure that your data may be subject to if you decide to disclose personal information. Notwithstanding the above, if you consider that certain content of external links may be in breach of our rules and policies or they are irrelevant to our business, please notify us by email.

    We take all reasonable steps to ensure the accuracy of the content published on our website. However, any information published is presented “as of the date published or indicated”, and may be superseded by subsequent market events or for other reasons. In no circumstances, we guarantee the accuracy of such information that is published purely for reference purposes. Subsequently, we shall not accept liability for any loss or damage that may arise directly or indirectly from the content of the information published on our website.

    • This is incidental to your dealing relationship with the Company. It is provided solely to enable you to make your own investment decisions and does not result to investment advice;
    • If the document contains a restriction on the person or category of persons for whom that document is intended or to whom it is distributed, you agree that you will not pass it on to any such person or category of persons;
    • The Company gives no representation, warranty or guarantee as to the accuracy or completeness of such information or as to the tax consequences of any Transaction;
    • You accept prior to its dispatch, the Company may have made use of the information on which it is based. The Company does not make representations as to the time of receipt by you and cannot guarantee that you will receive such information at the same time as other clients. Any published research reports or information may appear in one or more screen information service.

    The Company’s operating hours are from 21:00 GMT on Sunday to 21:00 GMT on Friday, excluding holidays which will be announced through the Company’s website. The Company reserves the right to suspend or modify the operating hours on its own discretion and on such event its website will be updated without delay in order for you to be informed accordingly.

  6. ACCOUNT OPENING INFORMATION AND REQUIREMENTS

    When you register for the aforementioned Services, the Company will ask you to provide certain identifying information, as part of the account opening procedure that will allow us to identify you and categorize you according to the "Client Classification Policy" of the Company.

    You acknowledge your willingness to share with the Company certain private information which it uses for the purpose of confirming your identity and categorizing you according to the "Client Categorisation Policy". This information is collected in line with our stringent verification procedures which are used to deter international money laundering operations and to ensure the security and safety of our customers’ trading activity throughout and is subject to the Company’s "Privacy Policy".

    If you are registering as a legal entity, you hereby declare that you have the authority to bind that entity to this Agreement. The Company will treat with care the information you entrust to the Company, in accordance with the disclosures it provides during the Registration process and in its Privacy Policy. A client may by granted a 15 day period, from the date of the first deposit, to complete the verification process. During this time the client will be able to deposit a maximum of 2,000 EUR which must be from a bank account or credit card associated to a bank account established in the European Union.

    By registering with the Company, you confirm and agree that you consent to the use of all or part of the information you supply concerning your trading account, the transactions you undertake through it and the interactions which you perform with the Company on behalf of the Company. All interactions you undertake with the Company will be stored by the Company for the purposes of record keeping, as required by the Law and may be employed by the Company in cases that disputes arise between you and the Company or on request by CySEC or any other competent authority.

  7. CLIENT CATEGORISATION

    You are categorized as a Retail Client. This categorization provides the highest level of protection compared to a Professional Client or Eligible Counterparty. In the event that you wish to be re-categorized you must inform the Company in writing, clearly stating such a wish. The final decision of the change in categorization however lies in the absolute discretion of the Company.

    You are bound by the method and process of categorization as this is defined and thoroughly explained in the "Client Categorization Policy" which can be found on the Company’s website under the title "Client Categorization Policy". Therefore, by accepting these Terms and Conditions, you accept the application of the categorization method as this is defined in the "Client Categorization Policy".

  8. GUARANTEES ON BEHALF OF THE CLIENT

    You state, confirm and guarantee that any funds handed to the Company for trading purposes, belong exclusively to you , originate from a bank account or other source which is in your name and are free of any lien, charge, pledge or any other burden. Further, whatever funds handed over to the Company by you are not in any manner whatsoever directly or indirectly proceeds of any illegal act or omission or product of any criminal activity.

    You act for yourself and not as a representative or a trustee of any third person, unless you have produced, to the satisfaction of the Company, a document and/or powers of attorney enabling you to act as representative and/or trustee of any third person.

    You agree and understand that in the event that the Company has such proofs that are adequate to indicate that certain amounts, as classified above, received by you are proceeds from illegal acts or products of any criminal activity and/or belonging to a third party, the Company reserves the right to refund these amounts to the sender, either this being you or a beneficial owner of a legal entity. Furthermore, you also agree and understand that the Company may reverse any Transactions performed in your Trading Account and may terminate this agreement. The Company reserves the right to take any legal action against you to cover and indemnify itself upon such an event and may claim any damages caused to the Company by you as a result of such an event.

    You declare that you are 21 years of age or older, in case of a natural person, and that you have full legal capacity, to enter into this Agreement.

    You understand and accept that all transactions in relation to trade in any of the Financial Instruments, will be performed only through the Trading Platforms provided by the Company and the Financial Instruments are not transferable to any other Trading Platform whatsoever.

    You guarantee the authenticity and validity of any document handed over by you to the Company. You understand and accept that the Company is unable to provide you with any legal advice or assurances in respect of your use of the Services and the Company makes no representations whatsoever as to the legality of the Services in your jurisdiction.

  9. ELECTRONIC TRADING

    The Company will provide you with Access Codes for gaining online access to the Company’s website and/or trading platforms, thereby being able to place orders for any Financial Instrument available from the Company and entering into Transactions with the Company. Further, you will be able to trade on the Company’s Trading Platforms with and through the Company with the use of a personal computer, smartphone or any other similar device that is connected to the internet. In this respect, you understand that the Company can, at its absolute discretion, terminate your access to the Company’s systems in order to protect both the Company’s and your interests and to ensure the systems’ effectiveness and efficiency.

    You agree that you will keep the Access Codes in a safe place chosen in your discretion and will not reveal them to any other person. You will not proceed and avoid proceeding in any action that could probably allow the irregular or unauthorized access or use of the Trading Platforms.

    You agree not to attempt to abuse the Trading Platforms in an attempt to make illegal profits or to attempt to profit by taking advantage of the server latency, or applying practices such as but not limited to price manipulation, lag trading, time manipulation.

    You are responsible for all acts or omissions that occur within the Website through the use of your registration information. If you believe that someone has used or is using your registration information, user name or password to access any Service without your authorization, you should notify the Company immediately. You must make every effort possible to keep the Access Codes secret and known only to you and you will be liable of any Orders received by the Company through your trading Account under your Access Codes. Further, any Orders received by the Company will be considered as received from you.

    You are responsible to monitor your Account and to notify the Company immediately if it comes to your attention that your Access Codes are lost or being used by an unauthorized third party. Also, you agree to immediately notify the Company should you become aware of any failure by you to receive a message indicating the reception and/or execution of an Order, the accurate confirmation of an execution, any information for your Account balances, orders or transactions history as well as in case you receive confirmation of an Order that you did not place.

    You acknowledge that the Company may choose not to take action based on Orders transmitted to the Company using electronic means other than those Orders transmitted to the Company using the predetermined electronic means such as the Trading Platform, and the Company shall have no liability towards the Client for failing to take action based on such Orders.

    You agree to use software programs developed by third parties including but not limited to the generality of those mentioned above, browser software that supports Data Security Protocols compatible with protocols used by the Company. Moreover, you agree to follow the access procedure (Login) of the Company that supports such protocols.

    The Company will not be held responsible in the event of an unauthorized access from third persons to information including, but not limited to, electronic addresses and/or personal data, through the exchange of these data between you and the Company and/or any other party using the Internet or other network or electronic mean available.

    The Company is not responsible for any power cuts or failures that prevent the use of the system and/or the Trading Platform and cannot be responsible for not fulfilling any obligations under this Agreement because of network connection or electricity failures .

    The Company shall have no liability for any potential damage you may suffer as a result of transmission errors, technical faults, malfunctions, illegal intervention in network equipment, network overloads, viruses, system errors, delays in execution, malicious blocking of access by third parties, internet malfunctions, interruptions or other deficiencies on the part of internet service providers. You acknowledge that access to electronic systems/trading platforms may be limited or unavailable due to such system errors, and that the Company reserves its right upon notifying you to suspend access to electronic systems/trading platforms for this reason.

    The Company has the right, unilaterally and with immediate effect, to suspend or withdraw permanently your ability to use any Electronic Service, or any part thereof, without notice, where the Company consider it necessary or advisable to do so, for example due to your non-compliance with the Applicable Regulations, breach of any provisions of this Agreement, network problems, failure of power supply, for maintenance, or to protect you when there has been a breach of security. In addition, the use of a service may be terminated automatically, upon the termination (for whatever reason) of any license granted to the Company which relates to the particular service; or this Agreement. The use of a service may be terminated immediately if the service is withdrawn by any market or the Company is required to withdraw the facility to comply with Applicable Regulations. The Client further agrees that in the case that any financial contract is acquired or sold at prices that do not reflect its market prices, or that is acquired or sold at an abnormally low level of risk (the "mispricing") due to an undetected programming error, bug, defect, error or glitch in the Company’s website software or any other reason resulting in mispricing , the Company reserves the right to cancel such transactions. We will take all the necessary measures, immediately, to remedy and rectify the situation, as it is fair and suited to each case. Remedies include correcting deal entry prices or exit prices according to the correct market rates at the time of transaction. We may need to cancel any transaction(s) which was executed wrongly due to the ‘’price misquote”, for example from preset limit orders being triggered due to mispricing.

    Any usage of third party trading software other than software that was authorized and enabled by the company through the company API is strictly forbidden and the Company reserves the right to cancel transactions that were executed through such unauthorized software.

  10. FINANCIAL INFORMATION

    Through one or more of its Services, the Company makes available to you a wide range of financial information that is generated internally, from agents, suppliers or partners ("Third Party Providers").  This includes, but is not limited to financial market data, quotes and news, analyst opinions and research reports, graphs and data ("Financial Information"). The financial information provided on the Company’s website is not intentional investment advice. The Company and its Third Party Providers do not warrant the accuracy, timeliness, completeness or correct sequencing of the financial information, or results of your use of this financial information. The financial information may promptly become unreliable for various reasons, including, for instance, changes in market conditions or economic circumstances. It is your responsibility to verify the reliability of the information on the Company’s website and its suitability for your needs. We exclude all liability for any claim, damage or loss of any kind caused by information contained in the Company’s website or referenced by the Company’s website.

  11. ORDERS – INSTRUCTIONS AND BASIS OF DEALINGS

    Reception and Execution of Transactions

    You can place an Order via the Company’s trading platform. Once your instructions or Orders are received by the Company, they cannot be revoked, except with the Company's written consent which may be given at the Company's sole and absolute discretion.

    You place your market request at the prices you see on your application/platform and the execution process is initiated. Due to the high volatility of the market as well as the internet connectivity between the customer terminal and the server, the prices requested by the customer and the current market price may change, during this process.

    The Company uses it’s reasonable endeavours to execute any order promptly, but in accepting your orders the Company does not represents or warrants that it will be possible to execute such order or that execution will be possible according to your instructions. In case the Company encounters any material difficulty in carrying out an order on your behalf, for example in case the market is closed and/or due to illiquidity in financial instruments and other market conditions, the Company shall promptly notify you.

    Orders can be placed, executed, changed or removed only within the operating (trading) time and shall remain effective through the next trading session. Your Order shall be valid and in accordance with the type and time of the given Order, as specified. If the time of validity of the Order is not specified, it shall be valid for an indefinite period.

    The Company may require you to limit the number of open positions which you may have with the Company at any time and the Company may in its sole discretion close out any one or more Transactions in order to ensure that such position limits are maintained. The position limits will be notified in advance to you either through the Company’s website or trading platforms.

    If any underlying asset of the Financial Instrument becomes subject to a specific risk resulting in a predicted fall in value or market pricing that does not reflect accurately the level of risk, the Company reserves the right to withdraw the specific financial instrument from the Company’s trading platform.

    The Company has the right to set control limits in relation to your orders at its own and absolute discretion. Such limits may be amended, removed or added and may include without limitation:

    1. controls over maximum order amount and size;
    2. controls over the electronic systems and/or trading platforms to verify for example your identity during the receipt of the order; or
    3. any other limits, parameters or controls which the Company may deem required to be implemented in accordance with Applicable Regulations.

    There may be restrictions on the number of Transactions that you can enter into on any one day and also in terms of the total value of those Transactions. You acknowledge that some markets place restrictions on the types of orders that can be directly transmitted to their electronic trading systems. These types of orders are sometimes described as synthetic orders. The transmission of synthetic orders to the market is dependent upon the accurate and timely receipt of prices or quotes from the relevant market or market data provider. You acknowledge that a market may cancel a synthetic order when upgrading its systems, trading screens may drop the record of such an order, and you enter such orders at your own risk. You shall refer to the Company’s website for details of the restrictions/limits imposed on Transactions performed through its electronic systems and/or trading platforms.

    In case where the client has any open positions on the ex-dividend or split day for any of the underlying assets of the financial instrument, the Company has the right to adjust the price or close such positions at the last price of the previous trading day and open the equivalent volume of the underlying financial instrument at the first available price on the ex-dividend day. In this case, the Company will inform the client via the internal mail of the said adjustment and no client consent will be required.

    Order Execution Policy

    The Company takes all reasonable steps to obtain the best possible results for its Clients. The Company’s Order Execution Policy sets out a general overview on how orders are executed as well as several other factors that can affect the execution of a financial instrument. You acknowledge and accept that you have read and understood the "Order Execution Policy", which was provided to you on the Company’s website.

    You agree that the Company may execute an order on your behalf outside a regulated market and/or an MTF and that the Company’s Order Execution Policy will not apply when you place a specific instruction. The execution venue to all clients’ orders will be duly an authorised market maker.

  12. CONFIRMATIONS

    Confirmations for all Transactions that have been executed in your Trading Account on a trading day will be available via your online Account through the Trading Platform as soon as the transaction is executed. It is your responsibility to notify the Company if any confirmations are incorrect. Confirmations shall, in the absence of manifest error, be conclusive and binding on you, unless you place your objection in writing within Five (5) Business Days.

  13. TRADING RULES AND PRICING

    The Company will quote prices and returns at which it is prepared to deal with you.

    It is your responsibility to decide whether or not you wish to deal at the price quoted by the Company. The Company’s prices are determined by the Company in the manner set out in the enclosed terms.

    Each price shall be effective and may be used in a dealing instruction prior to the earlier of its expiration time and the time, if any, at which it is otherwise withdrawn by the Company. A price may not be used in a dealing instruction after such time. Each price shall be available for use in a dealing instruction for a transaction with a principal amount not to exceed a maximum determined by the Company. You acknowledge that these prices and maximum amounts may differ from prices and maximum amounts provided to other customers of the Company and may be withdrawn or changed without notice. The Company may in its sole discretion and without prior notice to you immediately cease the provision of prices in some or all assets and for some or all value dates at any time.

    When the Company quotes a price, market conditions may move between Company’s sending of the quote and the time your order is executed. Such movement may be either in your favour or against it. Prices that may be quoted and/or traded upon, from time to time, by other market makers or third parties shall not apply to trades between the Company and you.

    Trading rules and the manner of calculating the Transactions' start, expiration and performance rates of indexes, stocks, commodities that are offered on the site may change from time to time at the Company's sole discretion. Client undertakes to continuously be updated on the manner of aforesaid calculation as appear in the Trading Rules.

    Subject to market conditions, orders given by the Trade Control system, related to Binary Options Trading shall be executed at the first tradable rate that provides a payout equals to or above the payout that was indicated by the client as upper limit, or at the first tradable rate that provides a payout equals to or below the payout as was indicated by the client as lower limit. Trade Control orders will be executed during Stockpair trading hours and according to Stockpair trading rules, specifically, Trade Control orders will not be executed after one hour and ten minutes before expiry of the option. Due to the nature of the financial markets, the movements of assets are not always continuous and might move considerably during a trading session or after the trading hours of the exchanges.

    The client should read the Trading Rules policy which is a part of this agreement.

  14. REFUSAL TO EXECUTE ORDERS

    The Company has the right, at any time and for any reason and without giving any notice and/or explanation, to refuse, at its discretion, to execute any Order, including without limitation in the following cases:

    1. If you fail to provide to the Company any documents requested from you either for client identification purposes or for any other reason.
    2. If the Company suspects or has concerns that the submitted documents may be false or fake.
    3. If you do not have the required funds deposited in your Account.
    4. If the Company is informed that your credit or debit card (or any other payment method used) has been lost or stolen.
    5. If the Company considers that there is a chargeback risk.
    6. If the Company has adequate reasons to suspect that the execution of an Order is part of an attempt to manipulate the market, trading on inside information, relates to money laundering activities or if it can potentially affect in any manner the reliability, efficiency, or smooth operation of the Trading Platform.
    7. If you do not have sufficient available funds deposited with the Company or in your bank account to pay the purchase price of an Order along with the respective fees and commissions necessary to carry out the transaction in the Trading Platform. In the event that the Company does refuse to execute an order, such refusal will not affect any obligation which you may have towards the Company or any right which the Company may have against you or your assets.
    8. If the order is transmitted in prices that do not reflect its market prices, or are priced in an abnormally low level of risk.

    It is understood that any refusal by the Company to execute any order shall not affect any obligation which you may have towards the Company or any right which the Company may have against you or your assets.

    You declare that you shall not knowingly give any Order or instruction to the Company that might instigate the Company taking action in accordance with Paragraph above.

  15. CANCELLATION OF TRANSACTIONS

    The Company may open, maintain and/or close your account, as well as seize, retain, hold and/or forfeit all or part of the funds (including profits) held in your account, cancel any actions (including, but not limited to, any trades performed via your account) and recover and/or forfeit any and all profits paid to you or to which you are entitled; The Company's rights in accordance with this clause will be at its sole discretion, including, but not limited to, in the following situations:

    1. any instance when the Company has cause to believe that a person's activities on the site may be illegal or fraudulent
    2. any instance where the Company may suffer any fiscal, regulatory, or pecuniary disadvantage by virtue of anyone's activities;
    3. any instance where one or more transactions on the site are judged by the Company to have been performed in violation of this agreement
    4. Orders placed on prices that have been displayed as a result of system errors or systems malfunctions either of those of the Company or of its third party service providers, or are priced in an abnormally low level of risk
    5. The Company reserves the right to cancel executed trades if the trade cancellation feature is abused above the acceptable limit.

    Clients are able to cancel executed binary option trades during a three second window that follows the opening of a position. The acceptable limit for cancelling trades is the lesser of 5 trades per day or 10% of the executed trades in a day (24 hours GMT time).

  16. SETTLEMENT OF TRANSACTIONS

    The Company shall proceed to a settlement of all transactions upon execution of such transactions. Acquisition of a financial contract is completed when the financial contract has been customized, the premium (or the margin/leverage/renewal fees, as the case may be) has been calculated and payment has been verified. You agree to be fully and personally liable for the due settlement of every transaction entered into under your account with the company.

  17. CLIENTS FUNDS

    Funds belonging to you that will be used for trading purposes will be kept in an account with any bank or financial institution used to accept funds which the Company will specify from time to time and will be held in the Company’s name in segregated clients’ funds accounts. It is understood that the Company may hold funds on behalf of you in a bank established outside the European Union. The legal and regulatory regime applying to any such bank might be different from the legal and regulatory regime in Cyprus and the European Union and in the event of the insolvency or any other analogous events in relation to that bank, your funds may be treated differently from the treatment which would apply if the funds were held with a bank in an account in Cyprus and the European Union. The Company will not be liable for the insolvency, acts or omissions of any third party referred to in this clause.

    It is commonly understood that any amount payable by the Company to you, shall be paid directly to you to a bank account the beneficial owner of which is you. Fund transfer requests are processed by the Company within the time period specified on the Company’s official website and the time needed for crediting into your personal account will depend on your bank account provider.

    The Company retains a right of set off and may, at its discretion, from time to time and without your authorization, set-off any amounts held on behalf and/or to the credit of you against your obligation to the Company. Unless otherwise agreed in writing by the Company and you, this Agreement shall not give rise to rights of credit facilities.

    You have the right to withdraw the funds which are not used for margin covering, free from any obligations from your Account without closing the said Account.

    The Company reserves the right to decline a withdrawal request if the request is not in accordance with certain conditions mentioned in this Agreement or delay the processing of the request if not satisfied on full documentation provided.

    It is within your terms that any incurring bank fees will be paid by you in case of funds withdrawals from your trading account to your designated bank account. You are fully responsible for the payment details that you provided to the Company and the Company accepts no responsibility if you have provided false or inaccurate bank details.

    You agree that any amounts sent by you in the Company’s bank accounts, will be deposited to your trading account at the value date of the payment received and net of any charges/fees charged by the Bank Account providers or any other intermediary involved in such transaction process. In order for the Company to accept any deposits by you, the identification of the sender must by verified and ensure that the person depositing the funds is you. If these conditions are not met, the Company reserves the right to refund the net amount deposited via the method used by the depositor.

    Withdrawals should be made using the same method used by the Client to fund his trading account and to the same remitter The Company reserves the right to decline a withdrawal with specific payment method and to suggest another payment method where you need to complete a new withdrawal request. In the event that the Company is not fully satisfied with the documentation provided in relation to a withdrawal request, the Company can request for additional documentation and if the request is not satisfied, the Company can reverse the withdrawal request and deposit the funds back to your trading account.

    In the event that any amount received in the Bank Accounts is reversed by the Bank Account provider at any time and for any reason, the Company will immediately reverse the affected deposit from your trading account and further reserves the right to reverse any other type of transactions effected after the date of the affected deposit. It is understood that these actions may result in a negative balance in all or any of your trading account(s).

    Wire Transfers: When depositing by a Bank Transfer, as required by anti-money-laundering regulations, the Client is required to use only one bank account, which is in his/her country of residence and in his/her name. An authentic SWIFT confirmation or Transfer Confirmation, showing the origin of the funds, must be sent to the Company. Failure to submit such SWIFT/Confirmation may result in the return of the deposited amount; hence preventing the deposit of such pending amounts to the Client’s trading account. Any withdrawal of funds, from the Client’s trading account to a bank account, can only be refunded to the same bank account that the funds were originally received from.

    You agree to waive any of your rights to receive any interest earned in the funds held in the Bank Account where your funds are kept.

  18. INACTIVE/DORMANT ACCOUNT PROCEDURE

    You acknowledge and confirm that any trading account held with the Company in which you have not placed a trade within the last 3 months shall be classified by the Company as an Inactive Account. You further acknowledge and confirm that such Inactive Accounts will be subject to maintenance fees as follows : 50 USD/GBP/EUR per month (according to the account currency) and where no trade has been placed in the last 12 months 150 USD/EUR/GBP per month (according to the account currency).

    You further agree that any Inactive Accounts, having zero balance/equity, may also be considered as Dormant Accounts and shall also be subject to cancellation of existing and/or unused Bonuses.

    You further acknowledge that any trading account held with the Company in which you have not placed any activity for a period of 5 months shall be classified by the Company as a Dormant Account., irrespective of any balance and maintenance fee applied.

    For the reactivation of an Inactive and/or Dormant Account you must contact the Company. The Inactive and/or Dormant Account will then be reactivated subject to, if required, up-to-date client identification documentation to be provided to the Company.

  19. COSTS AND CHARGES

    The Company is entitled to receive fees from the Client for its Services provided as described in the Agreement as well as compensation for the expenses it will incur for the obligations it will undertake during the provision of the said Investment Services. The Company reserves the right to modify, from time to time the size, the amounts and the percentage rates of its fees providing the Client with a respective notification of such changes accordingly. Notification is made via the Company’s website.

    Additional fees may be applicable for products such as Forex and CFD’s as described on the Company website.

    In the event where a Client wishes to withdraw their balance without having traded on the platform, they will be subject to a fee of up to 7% handling fees which would be determined at the Company’s sole discretion.

    In case of any value added tax or any other tax obligations that arise in relation to a transaction performed on behalf of you or any other action performed under this agreement for you, the amount incurred is fully payable by you and in this respect you must pay the Company immediately when so requested and the Company is fully entitled to debit the account of you with the outstanding amount to be settled (excluding taxes payable by the Company in relation to Company’s income or profits).

    Without limiting the foregoing, it is the Client’s obligation alone to calculate and pay all taxes applicable to him/her in his/her country of residence, or otherwise arising as a result of his/her trading activity from the use of the Company’s Services. Without derogating from his/her sole and entire responsibility to perform tax payments. We do not collect any taxes on your behalf. Also, we do not provide you with any tax advice and we do not deal with any tax related issues. Please address any tax related concerns to your tax advisor.

  20. COMPANY LIABILITY AND INDEMNITY

    It shall be noted that the Company and any entity related to the Company, will perform transactions in good faith and with proper due diligence but shall not be held liable for any omission, deliberate omission or fraud by any person, firm or company from whom the Company receives instructions for the execution of the Orders and/or from which transactions are carried out on behalf of you, including where this would be the result of negligence, deliberate omission or fraud on the part of the Company.

    The Company will not be held liable for any lost opportunities by you that have resulted in either losses or reduction (or increase) in the value of your Financial Instruments.

    In case the Company incurs any claims, losses, damage, liability or expenses that arise throughout the provision of the Services and all related operations that are performed as a mean for these Services to be performed to you as these are agreed in this Agreement or in relation to the potential disposal of your Financial Instruments, you are fully liable for these losses/expenses/liabilities/claims whereas the Company bears absolutely no responsibility and it is therefore your responsibility to indemnify the Company for the aforementioned.

    The Company shall not be held liable for any damage caused to you as a result of any omission, negligence, deliberate omission or fraud by the bank where the Company’s bank account is maintained.

    The Company shall not be held liable for the loss of Financial Instruments and funds of you in cases where your assets are kept by a third party such as a bank, or for an act, which was carried out based on inaccurate information at its disposal prior to being informed by you, of any change in the said information.

    The Company makes every effort to ensure that the Banks and institutions to which your funds and/or Financial Instruments are deposited are of good standing and reputation. However, the Company shall not be held liable in the event of a loss resulting from deterioration of the financial standing of a bank or institution, or for an event such as a liquidation, receivership or any other event that causes the Bank or institution of a failure and therefore leads to a loss of all or part of the funds deposited.

    The Company being a member of the Investors Compensation Fund (the "Fund") provides you with the security of receiving compensation from the Fund, for any claims arising from the malfunction on behalf of the Company or if the Company fails to fulfil its obligations regardless of whether that obligation arises from a breach of applicable law or regulations, the Agreement or from any wrongdoing by the Company. By accepting the Agreement you have read, understood and accepted the information under the title "INVESTOR COMPENSATION FUND" as this information appears on the Company’s website public and available for all Clients. Payments under the Investor Compensation Fund in respect of investments are subject to a maximum payment to any investor of EUR 20,000.

    Without prejudice to any other terms of this Agreement, the Company will not be liable for:

    1. Systems errors (Company’s or service providers)
    2. Delays
    3. Viruses
    4. Unauthorized use
    5. For any act taken by or on the instruction of a Market, clearing house or regulatory body.

    The Company shall not be liable to you for any partial or non-performance of its obligations hereunder by reason of any cause beyond reasonable control of the Company, including without limitation any breakdown, delay, malfunction or failure of transmission, communication or computer facilities, industrial action, act of terrorism, act of God, acts and regulations of any governmental or supra national bodies or authorities or the failure by the relevant intermediate broker or agent, agent or principal of the Company’s custodian, sub-custodian, dealer, Market, clearing house or regulatory or self-regulatory organisation, for any reason, to perform its obligations.

    You further acknowledge that you are responsible for reviewing the expiration dates for all financial products offered, which are located on the Company’s official website.

    Neither the Company nor its directors, officers, employees, or agents shall be liable for any losses, damages, costs or expenses, whether arising out of negligence, breach of contract, misrepresentation or otherwise, incurred or suffered by you under this Agreement (including any Transaction or where the Company has declined to enter into a proposed Transaction). In no circumstance, shall the Company has liability for losses suffered by you or any third party for any special or consequential damage, loss of profits, loss of goodwill or loss of business opportunity arising under or in connection with this Agreement, whether arising out of negligence, breach of contract, misrepresentation or otherwise.

    You shall pay to the Company such sums as it may from time to time require in or towards satisfaction of any debit balance on any of your accounts with the Company and, on a full indemnity basis, any losses, liabilities, costs or expenses (including legal fees), taxes, imposts and levies which the Company may incur or be subjected to with respect to any of your accounts or any Transaction or any matching Transaction on a Market or with an intermediate broker or as a result of any misrepresentation by you or any violation by you of your obligations under this Agreement (including any Transaction) or by the enforcement of the Company’s rights.

    You acknowledge that you have not relied on or been induced to enter into this Agreement by a representation other than those expressly set out in this Agreement. The Company will not be liable to you for a representation that is not set out in this Agreement and that is not fraudulent.

  21. UNAUTHORISED ACTIVITY

    You agree and acknowledge that you will not use our products and services for any Unauthorised Activity. “Unauthorised Activity” means any act, including but not limited to:

    1. money laundering, arbitrage, or trading on off-market quotes or any other activity involving the purchase of the Financial Products on one market for the immediate resale on another market in order to profit from a price discrepancy or price error;
    2. different accounts being traded by one trader simultaneously;
    3. internal/external hedging;
    4. churning;
    5. abuse of our ‘guaranteed stop loss’ feature;
    6. trading patterns such as risking all the trading equity in large, one directional trades; use of excessive leverage;
    7. same electronic identification point with other users; deposit and withdrawal patterns;
    8. communication with other account holders;
    9. placement of opposite pending orders abusing our guaranteed fill.
    10. Provisional of fake/altered verification documents.

    We retain the right to cancel or reserve any transaction where we reasonably believe that a transaction involves any Unauthorised Activity.

  22. DURATION OF THE AGREEMENT AND AMENDMENT THEREOF

    This Agreement shall be valid for an indefinite time period until its termination from either the Company or you or both.

    The Agreement may be amended on the following cases:

    1. Unilaterally by the Company if such amendment is necessary following an amendment of the law or if CySEC or any other regulatory authority issues decisions or binding directives which affect the Agreement. In any such case, the Company shall notify the Client of the said amendment either in writing or per electronic mail or through its main webpage and your consent shall not be required for any such amendment.
    2. In cases where the amendment of the Agreement is not required by any change in the legal framework, the Company shall notify you of the relevant amendment through its main webpage and/or via email. If objections arise, you may terminate the Agreement within Five (5) days from the notification by sending a registered letter and on the condition that all pending transactions on behalf of you shall be completed. Upon expiry of the above deadline without the Client having raised any objection, it shall be considered that you consent and/or accepts the content of the amendment.
  23. TERMINATION

    You have the right to terminate the Agreement by giving the Company at least Five (5) days written notice, specifying the date of termination in such, on the condition that in the case of such termination, all Client's Open Positions shall be closed by the date of termination without derogating all the provision aforementioned therein, including charges, fees and penalties.

    The Company may terminate the Agreement by giving you a Five (5) days written notice, specifying the date of termination therein.

    The Company may terminate the Agreement immediately without giving any notice in the following cases:

    1. Death of the Client;
    2. Unauthorised Activity
    3. In case of a decision of bankruptcy or winding up of you is taken through a meeting or through the submission of an application for the aforementioned;
    4. Termination is required by any competent regulatory authority or body;
    5. You violate any provision of the Agreement and in the Company’s opinion the Agreement cannot be implemented;
    6. You violate any law or regulation to which you are subject, including but not limited to, laws and regulations relating to exchange control and registration requirements;
    7. You involve the Company directly or indirectly in any type of fraud.
    8. An Event of Default as defined in Section 24 of this Agreement occurs.
    9. Any other reason the Company considers appropriate and necessary
    10. You have not completed the verification process within the 15 day timeframe set by the Company, whereby any open positions will be automatically closed and your initial deposit minus any loses/plus any profit will be returned.

    The termination of the Agreement shall not in any case affect the rights which have arisen, existing commitments or any contractual provision which was intended to remain in force after the termination and in the case of termination, you shall pay:

    1. Any pending fee of the Company and any other amount payable to the Company;
    2. Any charge and additional expenses incurred or to be incurred by the Company as a result of the termination of the Agreement;
    3. Any damages which arose during the arrangement or settlement of pending obligations.

    In case of breach by you of this agreement the Company reserves the right to reverse all previous transactions which place the Company’s interests and/or all or any its clients’ interests at risk before terminating the Agreement.

  24. EVENTS OF DEFAULT AND RIGHTS ON DEFAULT

    The following shall constitute "Events of Default" on the occurrence of which the Company shall be authorized to exercise its rights in accordance with Paragraph below:

    1. The failure of you to observe or perform any other provision of this Agreement and such failure continues for one Business Day after notice of non-performance has been provided to you by the Company.
    2. The commencement by a third party of procedures seeking your bankruptcy (in case of natural person) or your insolvency or other similar voluntary case of liquidation (in case of legal person) under the applicable laws or any other similar proceedings which are analogous to those pre-mentioned in relation to you.
    3. You take advantage of delays occurred in the prices and places Orders at outdated prices, trades at off-market prices and/or outside operating hours and performs any other action that constitutes improper trading.
    4. You die or become of unsound mind (if natural person).
    5. any representation or warranty made or given or deemed made or given by you under this Agreement proves to have been false or misleading in any material respect as at the time it was made or given or deemed made or given.
    6. any other situation where the Company reasonably considers it necessary or desirable for its own protection or any action is taken or event occurs which the Company considers that might have a material adverse effect upon your ability to perform any of its obligations under this Agreement.

    On the occurrence of an Event of Default the Company shall be entitled to take, in its absolute discretion, any of the following actions at any time and without giving prior notice to you:

    1. instead of returning to your investments equivalent to those credited to your account, to pay you the fair market value of such investments at the time the Company exercise such right, and/or
    2. to sell such of your investments as are in the Company’s possession or in the possession of any nominee or third party appointed under or pursuant to this Agreement, in each case as the Company may in its absolute discretion select or and upon such terms as the Company may in its absolute discretion think fit (without being responsible for any loss or diminution in price) in order to realize funds sufficient to cover any amount due by you hereunder, and/or
    3. to close out, replace or reverse any Transaction, buy, sell, borrow or lend or enter into any other Transaction or take, or refrain from taking, such other action at such time or times and in such manner as, at the Company’s sole discretion, the Company consider necessary or appropriate to cover, reduce or eliminate its loss or liability under or in respect of any of your contracts, positions or commitments, and/or
    4. to treat any or all Transactions then outstanding as having been repudiated by the Client, in which event the Company’s obligations under such Transaction or Transactions shall thereupon be cancelled and terminated.
  25. ACKNOWLEDGEMENT OF RISKS

    It shall be noted that the due to market conditions and fluctuations, the value of Financial Instruments may increase or decrease, or may even be reduced to zero. Regardless of the information the Company may provide to you, you agree and acknowledges the possibility of these cases occurring.

    You are aware and acknowledge that there is a great risk of incurring losses and damages as a result of the investment activity (purchase and/or sale of Financial Instruments) through the Company and the Company’s Trading Platform and accept that you are willing to undertake this risk upon entering into this business relationship.

    You declare that you have read, understood and unreservedly accepted the following:

    1. Information of the previous performance of a Financial Instrument does not guarantee its current and/or future performance. Historical data are not and should not be considered as reflective of the future returns of any Financial Instrument.
    2. In cases of Financial Instruments traded in currencies other than the currency of your country of residence, you are running the risk of a change in the exchange rate that will decrease the value and price of the Financial Instruments and in effect their performance.
    3. You must be aware that you are running the risk of losing all of your funds invested, and must only purchase Financial Instruments if you are willing to do so, if happened. Further, all expenses and commissions incurred will be payable from you.

    The maximum loss that may be incurred by any customer is the amount of money paid by them to the Company including any margin applied to a trade and any applicable fees.

    Each financial contract purchased by a customer via the Company’s website is an individual Agreement made between that customer and the Company, and is not transferable, negotiable or assignable to or with any third party. For more information please read our Risk Disclosure Notice

  26. CONFIDENTIAL INFORMATION

    The Company does not have any obligation to disclose to you any information or take into consideration any information either when making any decision or when it proceeds to any act on behalf of you, unless otherwise agreed and stated in this Agreement and where this is imposed by the relevant Laws and Regulations and directives in force.

    Your personal data that we require from you throughout our cooperation, is safely stored in our electronic systems, it is treated as confidential, and it is protected by Data Protection laws. It is our policy not to disclose client information to non-affiliated third parties except with your consent , where required for legal or regulatory purpose or subject to our Privacy Policy.

    By accepting this Agreement, you consent that you have read and accepted the terms of the

    "Privacy Policy". that the Company has adopted is available to all Clients on our website.

  27. NOTICES

    Unless the contrary is specifically provided, any notice, instructions, authorizations, requests or other communications to be given to the Company by you under the Agreement shall be in writing and shall be sent to the Company’s mailing address as indicated in the Company’s website or to any other address which the Company may from time to time specify to you for this purpose and shall take effect only when actually received by the Company, provided they do not violate and are not contrary to any term of this Agreement.

    The Company reserves the right to specify any other way of communication with you.

  28. RECORDING OF TELEPHONE CALLS

    You acknowledge that the Company might record telephone conversations between you and the Company without use of a warning tone to ensure that the material terms of the Transaction, and any other material information relating to the Transaction is promptly and accurately recorded. Such records will be the Company’s sole property and accepted by you as evidence of the Orders or instructions given.

  29. COMPLAINTS PROCEDURE

    The Company is obliged to put in place internal procedures for handling complaints fairly and promptly. Where the Company shall receive a complaint, the Company will send to you a written acknowledgement, enclosing details of the Company’s complaints and Resolution Procedures, including when and how you may be able to refer a complaint to CySEC which is the relevant regulatory body. You are advised to review the Complaints and Resolution procedures or contact the Company if you would like further details.

    Complaints must be sent to: Compliance@stockpair.com

  30. CONFILICT OF INTEREST

    Under Applicable Regulations the Company is required to have arrangements in place to manage conflicts of interest between the Company and its clients and between other clients. The Company will make all reasonable efforts to avoid conflicts of interest when they cannot be avoided the Company shall ensure that you are treated fairly and at the highest level of integrity and that their interests are protected at all times.

    You acknowledge and accept that you have read and accepted the "Conflicts of Interest Policy", which was provided to you during the registration process and is uploaded on the Company’s official website.

  31. GENERAL PROVISIONS

    You acknowledge that no representations were made to you by or on behalf of the Company which have in any way incited or persuaded you to enter into the Agreement.

    In case any provision of the Agreement is or becomes, at any time, illegal void or non-enforceable in any respect, in accordance with a law and/or regulation of any jurisdiction, the legality, validity 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.

    All Transactions on behalf of you shall be subject to the laws which govern the establishment and operation, the regulations, arrangements, directives, circulars and customs (jointly hereinafter called the "Laws and Regulations") of CySEC, the Central Bank of Cyprus and any other authorities which govern the operation of the Investment Firms (as defined in such Laws and Regulations), 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 desirable in view of compliance with the Laws and Regulations in force at the time. Any such measures as may be taken and all the Laws and Regulations in force shall be binding for you.

    You shall take all reasonably necessary measures (including, without prejudice to the generality of the above, the execution of all necessary documents) so that the Company may duly fulfil its obligations under the Agreement.

    The location of detailed information regarding the execution and conditions for the investment transactions in Financial Instruments conducted by the Company and other information regarding the activity of the Company are accessible and addressed to any natural persons and legal entities at the Company’s website over the Internet.

  32. APPLICABLE LAW, JURISDICTION

    This Agreement and all transactional relations between you and the Company are governed by the Laws of Cyprus and the competent court for the settlement of any dispute which may arise between them shall be the District Court of the district in which the Company’s headquarters are located.

  33. In addition to the above the following shall also be applicable when engaging into trading over-the –counter contracts for differences (“CFDs”) and foreign exchange contracts (‘FX Contracts”);

    1. DEFINITIONS – INTERPRETATION

      Contract for Differences or CFDs shall mean the Financial Instrument which is a contract between the parties (typically 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.

      “Difference” shall mean in an FX and CFD the difference in price upon the opening of a Transaction and the closing of such Transaction.

      “Forex 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.

      “Leverage” shall mean the percentage required to open a transaction. For example 1:200 Leverage means that in order to open a position the required margin is 0.5% of the transaction size.

      “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.

      “Margin Call” shall mean a demand by us to increase the amount of funds in your trading account to satisfy the required margin requirements, from time to time at our sole and absolute discretion to include any requirement to cover any overnight fees in order to avoid any open position being closed. “Market Order” shall mean Orders which are executed at the best available market price.

      “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.

      “Required 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 for each specific Underlying Asset.

      “Slippage” shall mean the difference between the expected price of a Transaction in a CFD or Binary Option, 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, 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.

      “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.

      “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 for Financial Instruments or Underlying Assets.

    2. ORDERS – INSTRUCTIONS AND BASIS OF DEALINGS

      You acknowledge that all of our prices and Quotes shown on the Trading Platform are the ones provided by the Company’s Execution Venue. The Execution Venue obtains prices (BID and ASK prices) of the Underlying Asset for a given CFD from third party reputable external reference sources (i.e. price feeders). The Execution Venue then uses these prices to calculate their own tradable prices for a given CFD and provide them to the Company.

      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:

      • an Underlying Market never traded at the level of your Transaction; or
      • 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

      In order to open a Transaction in an FX and CFD on the Trading Platform, you must either open a Buy or a Sell, at the price quoted by the Trading Platform at the time of such Transaction. In order to close a Transaction, you must either offer to sell (in the case of a Buy), or purchase (in the case of a Sell), the Underlying Asset covered by such open Transaction, at the price quoted by the Trading Platform at the time of such closing offer. Transactions or open positions cannot be transferred to other FX and CFD providers or their platforms. Full details of our Best execution Execution Policy can be found on the Website.

      The Trading Platform will provide a Buy quote and a Sell quote for each Underlying Asset traded on the Trading Platform. You acknowledge that upon opening a Buy or closing a Sell, you may only do so at the price quoted by the Trading Platform to purchase such Underlying Asset. You further acknowledge that upon opening a Sell or closing a Buy, you may only do so at the price quoted by the Trading Platform for such Underlying Asset.

      Orders can be placed and (if allowed) changed within the Trading Hours for each type of FX and CFD appearing on the Company’s Website, as amended from the Company from time to time. The Client agrees that the Orders to open a position if accepted by the Company outside the Trading Hours may not be capable of execution should the market not trade at the price stipulated once Trading Hours commence. The client further agrees that Orders to open a position where the Company may not be capable of execution due to a technical error the Client shall be informed of a technical error and the trade will be cancelled.

      Market Orders not executed because there is not enough volume to fill them, will not remain effective and will be cancelled.

      Orders shall be valid in accordance with the type and time of the given Order, as specified by the Client. If the time of validity of the Order is not specified, it shall be valid for an indefinite period. However, the Company may delete one or all Orders if the Trading Account Equity reaches zero.

      Stop loss and Take Profit orders may be changed as long as they are higher in distance than a specific level (depending on the trading symbol).The Client acknowledges and agrees that due to market volatility and factors beyond its control, the Company cannot guarantee that an Order will be executed at the level specified in the Client Order, for example, an Order may be closed at a worse price than as originally specified by the Client in such an Order. In such an event, the Company will close the Transaction at the next best price. For example, with respect to a Stop Loss, in the case of a Buy to close, the price of an Underlying Asset of such Order may suddenly increase above the Stop Loss price, without ever reaching such price. In the case of a Sell Stop Loss, the price of an Underlying Asset of such Order may suddenly decrease below the Stop Loss price, without ever reaching such price.

      With respect to a Take Profit where the price for an Underlying Asset moves to the Client’s advantage (for example, if the price goes down as the Client Buys or the price goes up as the Client Sells), the Client agrees that the Company can pass such price improvement on to the Client.

      In the event that the Company is unable to proceed with an Order, with regard to price or size or other reason, the Company not send a re-quote to the Client (with the price it is willing to deal until the price the Client asks is available). The Order will be rejected and the Client will need to place another Order.

      Stop and Limits

      The Client agrees that placing a Stop Loss Order will not necessarily limit losses to the intended amounts, because market conditions may make it impossible to execute such an Order at the stipulated price and the Company bears no responsibility whatsoever.

      Expiry Transactions

      We may, in our sole and absolute discretion, set an Expiry Date and time for a specific Instrument.

      In the event we set an Expiry Date for a specific Underlying Asset, it will be displayed on the Trading Platform in the details link for each Underlying Asset. It is your responsibility to make yourself aware of the Expiry Date and time.

      If you do not close an open Transaction with respect to an Underlying Asset which has an Expiry Date, prior to such Expiry Date, the Transaction shall automatically close upon the Expiry Date. The Transaction shall close at a price which will be the last price quoted on the Trading Platform immediately prior to the applicable Expiry Date and time.

      Spreads

      All FX and CFDs available with the Company have spreads which appear on the Trading Platform and/or the Website. The Company has the right to amend its spreads in its discretion from time to time. Such changes shall be effected on the Trading Platform and/or the Website and the Client is responsible to check for updates regularly.

    3. TRADING RULES AND PRICING

      Trading Hours

      Regular Trading Hours: Regular trading hours may change depending on a number of factors, such as acts of force majeure and extraordinary market conditions affecting the liquidity providers’ alignment with the market.

      Special / Public Holiday Trading Hours: Special trading hours set out the period where financial product trading may be affected in a specific market due to Public Holidays.

    4. SETTLEMENT OF TRANSACTIONS

      The Company shall proceed to a settlement of all transactions upon execution of such transactions. Acquisition of a financial contract is completed when the financial contract has been customized, the premium (or the margin/leverage/renewal fees, as the case may be) has been calculated and payment has been verified. You agree to be fully and personally liable for the due settlement of every transaction entered into under your account with the company.

    5. COMPANY LIABILITY AND INDEMNITY

      You further acknowledge that you are responsible for reviewing the expiration dates for all financial products offered which are located on the Company’s official website.

    6. ACKNOWLEDGEMENT OF RISKS

      You are aware and acknowledge that there is a great risk of incurring losses and damages as a result of the investment activity (purchase and/or sale of Financial Instruments) through the Company and the Company’s Trading Platform and accept that you are willing to undertake this risk upon entering into this business relationship.

      The maximum loss that may be incurred by any customer is the amount of money paid by them to the Company including any margin applied to a trade and any applicable fees.

    7. MARGIN REQUIREMENTS AND MARGIN CALL

      In order to open a Position for an Underlying Asset, you undertake to provide the Required Margin in your Trading Account. 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.

      It is your responsibility to ensure that you understands how Margin Requirements are calculated.

      Unless a Force Majeure Event has occurred, the Company has the right to change the Margin requirements, giving to the Client five (5) Business Days Written Notice prior to these amendments. 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 effected 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. The Client agrees that during an open trade, where the Company is not able to update any new margin requirement request from the client then any changes made to the margin by the client shall be reversed back to the original margin requirement set by the client.

      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.

      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 following options, within a short period of time, to deal with the situation:

      • Limit his exposure (close trades); or
      • Deposit more money in his Trading Account.

      Failure to meet the Margin Requirements at any time or failure to take an action under the preceding paragraph of this 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 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.

      Margin shall be paid in monetary funds in the Currency of the Client Account.

      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.

    8. MISQUOTES / MISPRICING

      It is possible, but extremely rare, that a transaction may be performed on a wrong price due a miss-quote price feed from any of our third party liquidity providers or through an unexpected technical fault. Equally, there may be delays due to internet connection or occasions where a position is opened or closed based on latent prices that do not reflect the correct market prices at the time of transaction, resulting in an inaccurate profit or inaccurate loss.

      Such events may affect your transactions and our business. In this case, we will take all the necessary measures, immediately, to remedy and rectify the situation, as it is fair and suited to each case. Remedies include correcting deal entry prices or exit prices according to the correct market rates at the time of transaction. We may need to cancel any transaction(s) which are executed wrongly due to the ‘price misquote’, for example from pre-set limit/pending orders been triggered due to mispricing. We make our best efforts to contact and inform you for our actions, by telephone or by e-mail.

    9. UNAUTHORISED ACTIVITY

      It is not permitted to use the services of the Company for an activity that is not authorised. In using the services of the Company, you agree and acknowledge that you will not use our products and services for any Unauthorised Activity. Descriptions of unauthorised activities are listed below.

      ‘Unauthorised Activity’ means any act, including but not limited to:

      Arbitrage. Arbitrage describes any trading result that is the outcome of actions that either eliminate the risk totally or significantly, usually abusing features provided by the Company.

      Hedging in bad faith. Hedging is a strategy used in limiting or offsetting probability of loss from fluctuations in the prices of commodities, currencies, or securities. In effect, hedging in bad faith is the employment of various techniques but, basically taking equal and opposite positions in the same Financial Product or a Financial Product highly correlated at near the same time, indicating no interest in genuine trading. This can happen over a single account or over multiple accounts.

      Trading on off-market quotes. It is not permitted to conduct an activity involving the purchase of Financial Products of any price other than the market price at that instant.

      Churning. Churning means excessive trading aiming to generate commissions. While there is no quantitative measure for churning, frequent buying and selling of securities that does little to meet the client's investment objectives may be construed as evidence of churning.

      News Gap and Break Gap Trading Abuse. All products observe a break either intraday, daily or weekly. It is the norm that the last price before the break and the first price after the break to be significantly different. This difference, also known as a ‘gap’, means there is no market (no tradable prices) in that range. A gap can also be the outcome of news release. The Company is proud to offer a guaranteed stop loss, take profit, pending order execution and negative balance protection to protect and enhance the trading of its clients. Nonetheless, it is prohibited to use these features in bad faith. Examples where these features are used in bad faith are:

      (i) Positions opened minutes or even seconds before the break or news release, in an attempt to generate profits without the risk of market moves.

      (ii) Positions that are large enough compared to the balance of the account, in an attempt to either generate profits or end up in a negative balance, which the company pays on your behalf.

      (iii) Simultaneous positions in the opposite direction (pending or marker orders), indicating no interest in the market direction but interested in generating profits due to the guaranteed stop loss and/or negative balance.

      Multiple Account Operation. Clients may not trade using the accounts of others or allow others to trade using their account. Evidence of this activity includes:

      1. accounts operating from the same location,

      2. using/indicating the same IP address,

      3. multiple accounts displaying the same deposit and withdrawal patterns,

      4. accounts showing similar or identical trading patterns. Where this activity is discovered, the Company reserves the right to close the affected accounts and all related open trading positions.

      The Company reserves the right to take the appropriate action in circumstances where the terms and conditions of this agreement have been breached. The consequences of breaching one or more of the conditions, deemed as ‘unauthorized activities’, could mean the suspension or closure of trades, the return of funds, and/or the suspension or closure of your account

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