A. who carries on business of dealing in securities, or

B. who holds himself out as conducting such business described below:

• 6.1.1makes or offers to make an agreement with another person to enter into or offer to enter into an agreement, for or with a view of acquiring, disposing of, subscribing for or underwriting securities or in any way that effects or causes to effect a securities transaction
• 6.1.2causes any sale or disposition of or other dealing or any solicitation in respect of securities for valuable consideration, whether the terms of payment be on margin, instalment or otherwise or any attempt to do any of the foregoing
• 6.1.3participates as a securities dealer in any transaction in a security occurring upon a securities exchange
• 6.1.4receives as a securities dealer an order to buy or sell a security which is executed

• 9.1.1Download and install, or access the Company’s Trading Platform (the ‘Software’) from the Company’s Website and;
• 9.1.2Receive an email with access codes, (the ‘Access Codes’) to enable them to log into the Company’s Trading Platform and send or modify instructions for the purpose of trading financial instruments.

• 9.5.1ensure that their computer systems are maintained in good order and are suitable for use with Company’s Trading Platform;
• 9.5.2run such tests and provide such information to the Company as the Company shall reasonably consider necessary to establish that the Client’s computer systems satisfy the requirements notified by the Company to the Client from time to time;
• 9.5.3carry out virus checks on a regular basis;
• 9.5.4inform the Company immediately of any unauthorised Transaction or Instruction which the Client knows of or suspect and, if within the Client’s control, cause such unauthorized use to cease; and
• 9.5.5never leave the computer terminal open from which the Client has accessed Company’s Trading Platform or let anyone else use such computer terminal until the Client has logged off from Company’s Trading Platform.

• 10.3.1that the Trading Platform will be available for access all the time, or at any time on a continuous uninterrupted basis (access to the Trading Platform may be affected, for example, by routine maintenance, repairs and upgrades);
• 10.3.2as to the operation, quality or functionality of the Trading Platform;
• 10.3.3that the Trading Platform will be free of errors or defects; and
• 10.3.4that the Trading Platform is free from viruses or anything else that has contaminating or destructive properties including where such results in loss of or corruption to the Client’s data or other property.

• 10.4.1not use the Trading Platform for unlawful purposes or in any manner that breaches the terms of this Agreement;
• 10.4.2interfere (nor attempt to) with or disrupt the proper operation of the Trading Platform, hardware, systems or networks, including (but not limited to) knowingly or negligently transmitting files that may contain malicious content capable of interfering in any way with the operation of the Trading Platform;
• 10.4.3take any action which may cause the provision of the Trading Platform to other users to be interrupted or degraded.

• 11.5.1due to the Client’s failure to maintain the Software updated as required or
• 11.5.2due to any mechanical, software, computer, telecommunications or electronic system failure that could have been controlled by either the Client or the Firm.
• 11.5.3Internet failure

• 13.2.1affect the orderly function of the market
• 13.2.2constitutes an abusive exploitation of privileged confidential information
• 13.2.3contributes to the laundering of illegal funds
• 13.2.4affects in any manner the reliability or orderly operation of the Company’s Trading Platform
• 13.2.5the Client’s order related to the purchase of a financial instrument but there is insufficient free margin in the relevant trading account to cover such purchase and any applicable charges.

• The Client may trade through his/her trading account from Sunday 00.00 (GMT+3) until Friday 00.00 (GMT+3). During the daylight-saving hour’s period, trading time will be from Sunday 23:00 (GMT+3) until Friday 23:00 (GMT+3). It should be noted that trading of certain financial instruments occurs during specific time frames, which are provided on the Company’s website.

• 14.3.1Bid – Ask Spread: For any given Financial Instrument, the Company will quote two prices: the higher price ASK at which the Client can buy (go long) that Financial Instrument, and the lower price (BID) at which the Client can sell (go short) that Financial Instrument; The difference between the Bid and the Ask prices of a given Financial Instrument is the spread.
• 14.3.2The Client hereby agrees that the Company’s prices shall be the only relevant prices for the Client’s Orders and Transactions.
• 14.3.3The Client acknowledges and agrees that the Company is under no obligation to quote any specific price which is quoted in a specific Financial Market.
• 14.3.4Any references of the Client to prices of other trading or information systems or of other Clients shall be disregarded. The Company has the right at its sole discretion to increase or decrease spreads on Financial Instruments depending on market conditions and Client’s profile. The Client acknowledges that events such as changes in the Financial Markets, news announcements, political and economic events or periods of low liquidity may result in wider spreads. The Client acknowledges and agrees that Spreads may widen at any time and without prior notice and that there is no limit to how wide Spreads may be.

• 14.4.1The Company shall receive, execute and transmit all Orders strictly in accordance with the Trading Conditions. The Company will have no responsibility for checking the accuracy or the logic of any Order.
• 14.4.2The Company has the right to refuse to execute the order in compliance with the Refusal to Execute Orders section of the Agreement.
• 14.4.3Types of Orders

The Company shall provide the Client with an option to place, following order types:

• 14.4.3.1A Market Order which is an order that the Company makes every effort to execute at the best available price. Generally, this order will be executed immediately, however, the price at which a market order will be executed is not guaranteed and may be executed at a worse or better price, known as negative or positive slippage. The Client may attach a stop loss and/or a take profit and/or a trailing stop after the market order is executed.
• 14.4.3.2A Limit or Range Order which is an order to sell a financial instrument at no less than a specific price or buy a financial instrument at no more than a specific price. The Client may attach a stop loss and/or a take profit before the order is executed. In this case the order will be executed at the price specified or better. A trailing stop can be attached after the order is executed.
• 14.4.3.3A Pending Order or an Entry Order which is an order to be executed at a later time and a price that the Client specifies. When the price reaches the price specified by the Client, then the order becomes a market order. Negative and positive slippage applies to pending orders. The Client has the option to place the following pending or entry orders:

i. A Buy Limit Order, which is a pending or entry buy order placed below the current market price. If the market price drops to the level of the buy order that order is then triggered.

ii. A Buy Stop Order, which is a pending or entry buy order placed above the current market price. If the market price rises to the level of the buy order that order is then triggered.

iii. A Sell Limit Order, which is a pending or entry sell order placed above the current market price. If the market price rises to the level of the sell order that order is then triggered.

iv. A Sell Stop Order, which is a pending or entry sell order placed below the current market price. If the market price drops to the level of the sell order that order is then triggered.

• 14.4.3.4A Trailing Stop Order which is a stop loss order set in terms of points (pips) level below the market price – for a long position and above the market price – for a short position. The trailing stop price is adjusted as the price fluctuates.
• 14.4.4Such orders as Buy Limit, Buy Stop and Stop Loss/ Take Profit for opened short positions are executed as ASK price. Such orders as Sell Limit, Sell Stop and Stop Loss/Take Profit for opened long position are executed at BID price. All orders once triggered are executed as Market Orders at the best available price.

• 14.5.1The size of an Order is expressed in lots. The minimum and the maximum order size may depend on the account type and/or asset class and/or particular financial instrument. The Company reserves the right to alter the minimum and/or maximum order size at any given time. A detailed information regarding available order sizes can be found on the Company’s Website.

• 14.6.1The Client is charged a spread (liquidity quoted prices plus a mark-up) and may be requiring paying swaps (overnight interest rate) or commission, if applicable, on some financial instruments. Commissions and Swaps are not incorporated into the firm’s quoted prices but charged separately. A detailed information regarding costs is provided in the Costs, Fees and Charges section of the Agreement.

A) The Company will pay the Client the difference between the price in which the Transaction was opened and the price in which the Transaction was closed, multiplied by the number of units of the Underlying Instrument that comprise the Transaction if the Transaction is:

• 14.7.1a long Transaction and the Transaction’s closing price is higher than its opening price; or
• 14.7.2a short Transaction and the Transaction’s closing price is lower than its opening price; and

B) The Client will pay the Company the difference between the price in which the Transaction was opened and the price in which the Transaction was closed, multiplied by the number of units of the Underlying Instrument that comprise the Transaction if the Transaction is:

• 14.7.3a long Transaction and the Transaction’s closing price is lower than its opening price; or
• 14.7.4a short Transaction and the Transaction’s closing price is higher than its opening price.

• 14.8.1For certain CFDs, an expiry date may apply (Expiry Transaction). The Client acknowledges and agrees that the Company will have the right to close any Transaction and remove any pending orders, in its sole and absolute discretion without notice, if the Reference Instrument is a derivative financial instrument which may settle on expiry by a delivery other than in cash, at a reasonable period prior to the expiry date (the details of these dates are available at the Company’s website), as determined in the sole and absolute discretion of the Company (Usually on the expiry date). The Company will not be subject to any obligation to rollover any position which is subject to settlement on expiry. The price of an expiry transaction will be based on the current available market price, at the time the transaction is executed.
• 14.8.2The Client acknowledges that it is the Client's responsibility to be aware in regards to CFDs expiry dates. Information regarding the expiry dates of CFDs is available on the Company’s Website.

• 14.9.1In the event of a distribution of cash dividends in relation to a share CFD, a dividend adjustment will be made to the Client’s Balance with respect to the underlying share’s Positions held by the Client at the end of business day which precedes the ex-dividend date. The dividend adjustment shall be calculated by the Company, based on the size of the dividend, the size of the Client’s position, taxation (if applicable) and whether it is a buy or a sell Transaction, whereby in long Positions the adjustment shall be credited to the Client’s Balance and in short positions the adjustment shall be debited from the Client’s Balance. Dividends shall be credited or debited from the Client’s Balance outside the underlying share’s trading hours and before the opening of the share’s next trading day, and are contingent upon the Client holding his/her respective Position at the time of the dividend adjustment. During this period, in order to keep the fair value of the Client’s Equity until the opening of the next trading day, the Company shall adjust the Client’s Position in accordance with the dividend amount debited or credited from the Client’s Balance.

• 14.10.1A Margin Call occurs when the Account’s equity is about to drop below the margin requirement needed to maintain open Transaction(s). The Margin Call is set at 50% for Cent, Mini, Standard, Standard FX accounts whilst for the ECN account it is 70%. If the equity-to-margin ratio shall continue to drop, a Stop-out may occur.

• 14.11.1A stop-out occurs when the account’s equity drops below the margin requirement needed to maintain open Transaction(s). Margin Call and Stop Out vary depending on account type and are subject to change. The Stop Out Level on the Cent, Mini, Standard and Standard FX accounts is at 20%. On ECN accounts, the Stop Out Level is at 40%. If the equity continues to drop, reaching the above mentioned equity-to-margin ratio, MT5 will automatically start closing open positions (starting with those with the highest losses) to prevent zeroing out of the account. The Client should note that a Stop-out may occur even if the Account is fully hedged. When an account is fully hedged, no margin requirement is needed, however the equity is affected by the floating PnL. If the spread widens, the floating PnL will increase. In this case, if floating PnL > equity, account will get stopped out.

• The Client understands that a Market Gap may occur due to abnormal market conditions and/or as a result of the price difference between the closing and opening price. In case of a Market Gap, the Company shall execute all pending limit or stop orders at the first available market price for the corresponding position size.

CFDs whose Underlying Assets are Stocks are traded in conjunction with the times in which the underlying share is traded. Without derogating the provisions of the Agreement, Stock CFD Transactions may be terminated by the Company upon the occurrence of such events as: Corporate Actions, Suspension, Trading Termination, extremely low liquidity and Insolvency. In such event, the settlement price shall be the last traded price at or prior to the time of termination.

• 14.15.1Corporate Actions
• ) If a corporate action materializes, the Client accepts that the Company reserves the right to make appropriate adjustments to the value and/or size of a transaction and/or number of any related transactions; any such adjustment aims in preserving the economic equivalent of the rights and obligations of both the Client and the Firm immediately prior to a corporate action. It should be noted that these adjustments are conclusive and binding upon the Client; the Client will be informed accordingly by the Company as soon as reasonably practicable.
• ii) The Client accepts that if they have any open positions that are affected by the corporate action, on the ex-dividend day the Company reserves the right to close such positions at the last price of the previous trading day and open the equivalent position at the first available price on the ex-dividend day; under the above mentioned circumstances, the Company shall inform the Client accordingly, through the internal e- mailing system, no later than the closing of the trading session prior to the ex-dividend day.
• iii) The Company bears no responsibility for notifying the Client regarding announcement of corporate actions.
• iv) A client holding a long position on the ex-dividend date will receive the applicable dividend, in the form of a cash adjustment, deposited to the relevant account. A Client holding a short position on the ex-dividend date will be charged the applicable dividend, debited from the relevant trading’s account free equity. In the event a Client maintains a short position on the ex-dividend date and has insufficient free equity in their trading account to cover the reverse cash adjustment, the Company reserves the right to close the open position. Under such circumstances, the reverse cash adjustment shall be deduced from the trading account’s balance.
• v) The Client accepts that the Company retains no requirements to notify a Client in the event that a trading account maintains insufficient free equity to cover a reverse cash adjustment for a short position.
• vi) In the event of a stock split, the appropriate adjustment on the Client’s net position shall be reflected on the trading account in accordance with the announced stock split.
• vii) In the event of a share being de-listed, the Client’s position will be closed at the last traded market price.
• 14.15.2Suspension
• i) If at any time trading on a relevant Financial Market or trading in a certain Underlying Asset is suspended, the Company shall suspend the trading in the CFD Transactions based on such Underlying Asset and calculate the value of the CFD with reference to the last traded price before the time of suspension, as reasonably determined by the Company. In the event that the aforesaid suspension continues for five Business Days, the Company may decide, at its sole and absolute discretion, a Closing Time and price of the relevant CFD. During the term of a CFD Transaction whose market is suspended, the Company shall have the right to terminate the CFD Transaction at its discretion, and to amend or vary the requirements.
• 14.15.3Trading Termination
• i) If an Underlying Asset has ceased (or will cease) to be listed, traded or publicly quoted for any reason and is not immediately re-listed, re-traded or re-quoted on the relevant Financial Market or quotation system (including in the event of any insolvency of a company whose shares constitute an Underlying Asset), the Closing Time of the relevant CFD shall be a reasonable time prior to such time in which the Underlying Asset will cease to be listed, traded or publicly quoted and the Company shall close all the relevant Transactions at the Closing Time.
• 14.15.4Insolvency
• i) If a company, whose shares form the CFD’s Underlying Asset goes into insolvency or is otherwise dissolved, the Company shall close any open Position in the CFD and cancel all Limit Orders relevant to such Underlying Asset. The closing date shall be the date of insolvency.

• i) Credit the Client’s Account for all deposits, realized Profits, dividends (in long Positions) and Overnight Financing;
• ii) Debit the Client’s Account for all withdrawals, realized losses, dividends (in short positions) and Overnight Financing and Fees; and
• iii) Make any other adjustment in the Client’s Account as the Company may deem necessary in its sole discretion, acting reasonably and in accordance with the terms of this Agreement.

• 15.8.1 All deposits shall be made in accordance with Payment instructions set forth on the Company’s Website.
• 15.8.2 The Client acknowledges that the Company cannot be held liable for how many days it takes from the sending bank, or other financial institution, or third-party payment solution providers, to send funds to the Company and the time the Company shall receive the funds.
• 15.8.3 Third-Party Deposits
• i) The Company does not accept payments from any Third-Parties. Payments can be made from bank accounts and/or credit/debit cards and/or e-Wallets registered under a name that matches the name of the owner of the Trading Account registered with the Company.

In case of Third-Party Deposits:

• i) The Company reserves the right to immediately close any open positions and/or pending order, freeze the account and deduct the funds sent by the Third-Party. In addition, the Company reserves the right to immediately send the money back to the same source, via the same payment method and remitter used to conduct the initial deposit.
• ii) The Company, in its sole discretion, has the right to suspend the Client’s account permanently.
• iii) The Client acknowledges and agrees that the Company cannot be held liable for any loss, damage or expense of any kind which the Client may suffer as a result of such cases.

• 15.9.1The Client agrees that all refunds and withdrawals shall be processed to the same source, via the same payment method and remitter used to conduct the initial deposit, however if the payment method used initially by the Client to make a deposit is no longer in use, the Company reserves the right to request additional documentation and information from the Client in order to proceed with the said refund or withdrawal.
• i) If the initial deposit has been made via credit/debit card which has been since cancelled by the Client (or the payment card issuer), the Company will request the Client to provide a document issued by the bank confirming that a card has been cancelled and a bank statement or bank account ownership confirmation, showing details of a bank account that shall be used for the requested refund or withdrawal of funds.
• ii) If the initial deposit has originated from a bank account which has been since closed by the Client, the Company will request the Client to provide a document issued by the bank confirming that this bank account has been closed and a new bank statement or new bank account ownership confirmation, showing details of a bank account that shall be used for the requested refund or withdrawal of funds.
• 15.9.2The Client agrees that they are they solely responsible for the payment details they are providing us with and the Company does not accept any responsibility for Client’s funds, if the payment details provided by the Client are incorrect or incomplete.

• 15.10.1Eligibility
• i) Refunds are available to Clients who deposited funds in their Trading Account(s) but did not open any transaction yet. In such case a client may be refunded regardless whether or not they have provided the Company with all the necessary Verification Documents.
• 15.10.2Procedure
• i) Eligible Client shall contact the Company (contact details are provided on the Company’s Website) and request the initiation of the refund procedure in writing via e- mail. The Client shall use only their registered e-mail address when requesting a refund.
• ii) Client’s funds shall be returned to the same source, via the same payment method and remitter used to conduct the initial deposit, however if for whatever reason, the Company will not be able to proceed with such payment, the Company reserve the right to transmit the funds via an alternative payment method approved, verified and/or suggested by the Company, at its sole discretion.
• iii) The Client who is eligible for a refund is not required to provide the Company with Verification Documents, however certain payment providers may not provide the Company with all the necessary information regarding the origin of funds and in such cases, in order to proceed with the refund, the Company shall request a bank transfer confirmation from the Client.
• iv) The Client understands and agrees that certain payment providers do not provide the Company with all the necessary information regarding the origin of funds and in such cases, in order to proceed with the refund, the Company shall request additional documents from the Client (i.e. Proof of Deposit in the form of a bank transfer confirmation, which will indicate the details of the bank account used for the initial deposit)
• 15.10.3Time Restraints
• i) Upon receiving a request from the Client, the Company shall proceed with the payment of a specified amount within the same day or depending on the time the refund request has been received the latest the next working day (however, the time needed for the funds to reach the Client may vary, depending on Client’s selected payment method). However, if the source of funds is not clear to the Company, the Company shall request additional documents for the Client, which may significantly delay the refund process.

• 15.11.1Eligibility

Withdrawals are available to Clients who:

• i) have deposited funds in their trading account and
• ii) have provided the Company with all the required Verification Documents to the Company’s satisfaction and their Trading Account status is ‘verified’, and
• iii) have all their required Verification Documents up-to-date, and
• iv) have no open Transaction(s) in the Trading Account they wish to withdraw the money from or have open Transaction(s) but will have at least 100% margin remaining in the Account after the requested amount will be withdrawn.
• 15.11.2Procedure
• i) Eligible Client shall place a withdrawal request via the Client’s Portal.
• ii) Client’s funds shall be returned to the same source, via the same payment method and remitter used to conduct the initial deposit, however if for whatever reason, the Company will not be able to proceed with such payment, the Company reserves the right to suggest and/or request additional payment method from the Client.
• iii) The Client understands and agrees that if the Client has used multiple sources to deposit funds, the Company may have to use more than one of those sources to send the requested amount back to the Client. In such case the requested withdrawal amount may be split and send back in separate transactions to separate sources used by the Client when funding his/her Trading Account.
• iv) The Client understands and agrees that:

funds considered as initial deposit shall be returned to the same source, via the same payment method and remitter used to conduct the initial deposit, however if for whatever reason, the Company will not be able to proceed with such payment, the Company reserve the right to transmit the funds via an alternative payment method approved, verified and/or suggested by the Company, at its sole discretion.

Funds considered as generated profit, shall be returned separately into Client’s bank account, regardless of whether such bank account has been previously used by the Client for depositing funds to the Company or not. In such case, the Company shall request additional information from the Client (i.e. details of bank account in Client’s name) before proceeding with the withdrawal of profits.

• 15.11.3Time Restraints
• Upon receiving Client’s request, the Company shall proceed with the payment of a specified amount within the same day or depending on the time the withdrawal request has been received the latest the next working day (however, the time needed for the funds to reach the Client may vary, depending on Client’s selected payment method). However, if any of Client’s documents are not up-to-date, the Company shall request new, updated version of such document(s), which may significantly delay the withdrawal process. In addition, the Company shall request any additional identification document deems necessary before proceeding with the withdrawal request. The requested documents should be provided to the Company within twenty four (24) hours from the time of receipt of the Company’s email. If the Client does not provide to the Company the requested document within 24 hours, then the Company shall be entitled to suspend the Client’s account. The Client will then have fourty eight (48) hours to provide the requested documents. If the Client does not provide to the Company the requested document within 48 hours, then the Company shall be entitled to block the Client’s account. Notwithstanding the above, the Company at its absolute sole discretion, shall be entitled to transfer and/or retain any or all funds that the Client may have in any of his/her Trading Account if there is an indication or suspicion of either fraud, abuse, manipulation, deceitful, fraudulent activity or violation of the Agreement by the Client.

• 15.12.1In the event of a chargeback placed by you with your credit card Company (done intentionally or by mistake) for any deposit made by you in your Company’s account, we reserve the right to block your account and then a thorough investigation will be carried out on behalf of the Company to determine the legitimacy of the chargeback. The blocked amount will only be released if the chargeback is found to be valid.
• 15.12.2We do not tolerate credit card fraud, and all fraud, without exception, will be prosecuted through criminal proceedings in your local jurisdiction to the fullest extent of the law. In addition, we will pursue civil legal action in your local jurisdiction seeking any loss of income related to the fraud, including business, legal fees, research costs, employee down time and loss of revenues.
• 15.12.3We employ advanced risk modelling to detect fraudulent transaction clues across our Services. Fraudulent transactions are immediately cancelled after being detected. Any active Orders associated with the same fraudulent credit card will also be cancelled immediately. We also actively leverage external, cross-industry resources --such as worldwide fraud blacklists --to prevent fraudulent users from accessing the Company’s Trading Platform in the first place.
• 15.12.4We consider credit card charge backs to be fraudulent if you make no reasonable effort to work with us to resolve any problems with your deposit. All frivolous chargebacks not only cost our employees time away from our usual and customary matters of conducting normal business, but also cost us money, therefore:
• i) If we determine that a deposit is high-risk or does not comply with our Compliance and risk Policies, the deposit will immediately be cancelled and the funds will immediately be refunded to the credit card from which the deposit was initially made. Furthermore, in such instances, we reserve the right, at our sole discretion, to close any and all of your Account(s) with us immediately. Any active Orders associated with the same fraudulent credit card and/or Account will also be cancelled immediately.
• ii) You agree that if you choose to do business with us and you file a chargeback with your credit card company, we initially follow an investigation to determine the legitimacy of your chargeback and in the event, that you win the charge back argument, we will unblock the said amount the soonest possible. In the event that you do not win the charge back argument, you agree to charge the blocked amount of USD150 to your credit card, which will represent the “research and administrative processing fee” for our time responding to the matter. You hereby authorize us to charge this amount to your credit card. If this charge is rejected, we will pursue legal action to recoup losses for our time associated with responding to the charge back in addition to any other fees explained above. You agree to reimburse us or any Representative we may appoint for any legal expenses your actions may make us incur.
• iii) Furthermore, in such instances, we reserve the right, at our sole discretion, to take all action as we see fit, including, without limitation, completely blocking access to the Company’s Trading Platform, blocking and/or revoking your Access Codes and/or terminating your Account. Under these circumstances, we reserve the right to seize any profits and/or revenues generated directly or indirectly by exercising any such prohibited trading activity and we shall be entitled to inform any Interested third parties of your breach of this clause; any active Orders associated with the same fraudulent credit card and/or Account will also be cancelled immediately; we have, and will continue to develop any tools necessary to identify credit/debit card fraud; any dispute arising from such fraudulent activity will be resolved by us in our sole and absolute discretion, in the manner we deem to be the fairest to all concerned; that decision shall be final and/or binding on all participants; no correspondence will be entered into.

• 16.6.1Spread, a difference between the BUY and the SELL price, varies between different financial instruments; its size depends on the type of the Account Type held by the Client and market conditions.
• 16.6.2The Client understands that the Company offers floating spread that may, without any notice, widen at any time.
• 16.6.3The applicable Spreads (which include Company’s mark-up, if applicable) can be found on the Company’s Website.

• 16.7.1The Company charges the Commission only on the Compatible Trading ECN account type. The Commissions can be found in the Company’s Website in the Trading section as per each asset class.

• 16.8.1The swap is the interest added or deducted for holding an open position over night.
• 16.8.2Swaps are charged in the form of points (points), percentage terms or monetary terms depending on the financial instrument, which are based on market interest rates, which may vary from time to time. Swap charges can be found in the Company’s website.
• 16.8.3Depending on the position held and the interest rate of the currency involved in the Transaction, the Client may be either credited or debited with financing.
• 16.8.4The Company has the right to change the swap rates at any given time without any notice.
• 16.8.5Swaps can be viewed in the MT5 terminal and/or through the Trading section of the Company’s Website.
• 16.8.6Triple swaps apply of Wednesdays or Fridays (depending on the instrument traded – details are provided on the Company’s Website).
• 16.8.7During times where swaps are charged, Clients may experience slight delay in execution and/or significant slippage.

• 16.9.1In the event that there is no activity (trading /withdrawals / deposits) in the Client’s trading account(s) for a continuous period of 90 (ninety) calendar days, such trading account will be considered to be dormant. An Account is considered dormant on the last day of the 90 (ninety) day period any remaining credit lines will be automatically removed from the Dormant Account. Any pending orders may also be deleted.
• 16.9.2Dormant Accounts will be charged with a monthly dormant fee of USD 10 (or the equivalent in the Account Currency) or the full amount of the free balance if the balance is less than USD 10. There will be no fee if the free balance is in the Account is zero.
• 16.9.3The Client who under one username has more than one Trading Account, will be charged a dormant fee on each account separately if relevant accounts are considered to be dormant.

• 16.10.1Transaction/Transfer/Commission fees might be charged by certain payment providers. The company does not charge fees for deposit(s) or a withdrawal(s) under any circumstances.
• 16.10.2Information regarding the commission charged by the payment providers can be found on the Company’s Website.

• 20.8.1Information of the previous performance of a Financial Instrument does not guarantee its current or future performance. The use of historical data does not constitute a binding or safe forecast as to the corresponding future performance of the Financial Instruments to which the said information refers.
• 20.8.2When a Financial Instrument is traded in a currency other than the currency of the Client’s country of residence, any changes in the exchange rates may have a negative effect on its value, price and performance.
• 20.8.3A Financial Instrument on foreign markets may entail risks different to the usual risks of the markets in the Client’s country of residence. In some cases, these risks may be greater. The prospect of profit or loss from transactions on foreign markets is also affected by exchange rate fluctuations.

• 21.1.1The Terms of the Plans may be amended from time to time at the Company’s discretion by giving the Partner at least three (3) business days’ written notice by e-mail or by announcement on the Company’s Website or Partners’ Portal.

• 21.2.1Compensation will be paid weekly in arrears, subject to satisfactory verification, the Partner’s plan and these Terms & Conditions. Compensation amounts are paid in the currency of the trading account and credited into the Partner’s respective wallet. As an example, if a trader’s trading account currency is JPY, commission generated in USD will be converted into JPY and deposited into the JPY wallet.
• 21.2.2All conversion rates used are based on interbank rates or relevant exchanges and might differ from the rates offered by the Company.
• 21.2.3Partners are not eligible to receive compensation from Trades that were opened and closed in less or equal to 5 minutes.
• 21.2.4Partners are not eligible to receive compensation from Trades generated using Credit (Bonus). The system automatically identifies the amount of Credit (Bonus) used to execute a trade and deducts the relevant percentage from 0-100% from the Partner’s Compensation.
• 21.2.5A Partner may not earn compensation from their own accounts or any account that is suspected to belong to the Partner using a different email address or any other means intended to deceive the Company.
• 21.2.6Partners will be able to request a withdrawal through the Partners’ Portal on a weekly basis every Monday from 00:00 GMT+3 to 16:00 GMT+3. Withdrawals will be processed within 48 hours, provided that the Partner’s Commission balance is over ten (10) USD and the equivalent in Cryptos. If the Commission balance is less than ten (10) USD and the equivalent in Cryptos for a given week, the balance will be carried over and added to the Commission entitlement for the following week. The Company reserve the right to void the Partner’s Commission entitlement and terminate membership of the Partners’ Program under clause 8, if the Commission balance fails to reach five hundred dollars within three (3) consecutive calendar months.

• 21.5.2Some form of abuse or market abuse or market manipulation may have taken place; or
• 21.5.3The Partner acted dishonestly towards a Trader or a Prospective Client; or
• 21.5.4The Partner is found in breach of any term of this Agreement; or
• 21.5.5The Partner holds several trading accounts with a different email address/s for the purpose of earning compensation violating the terms of this agreement and/or the Operative Agreements.

• 22.1.1A trading bonus is an added value to your deposit and it provides you with more funds to use when you are trading. Trading bonuses comes in the form of a one-time added value to your deposit. When you fund your account, the Company matches your real money deposit by a certain amount of percentage in accordance to your deposit. Bonus percentage may vary, as it depends on Company’s promotion.

• 22.2.1A trading bonus gives you great value and extra trading leverage. With all of the above being mentioned; when you trade with bonus leverage you need to be cautious. It is truly appealing, but there is a downside. You may close higher trades and make more money initially (or in the long run), but you can also lose a lot more money. Option trading can be risky, and you need to trade with confidence and responsibility to avoid losses.

• i) the Client had breached their representations and warranties,
• ii) the Client provided the Company with inaccurate, incomplete or false information or documents,
• iii) the Client’s Account constitutes or may constitute an Anti-Money-Laundering and Prevention of Terrorism Financing or other regulatory risk,
• iv) the Client is abusing the Company’s Negative Balance Policy and/or any other term of this Agreement,
• v) the Client uses the Company’s Trading Platform and/or gives Orders or enter into Transactions within the definition of market abuse (as such term is defined in the Market Abuse Law 116(I)/2005) or in any other abusive way, including lag trading and/or usage of server latency, price manipulation, time manipulation or any other practices which are illegal and/or are utilized to give the Client an unfair advantage or which the Company considers, at its sole discretion, as inappropriate and outside the scope of this Agreement and/or as unfair business conduct.
  
• vi) the Company did not receive the additional and/or updated information and/or documentation required within the time frame determined by the Company
  
• 23.5.1Without prejudice to the above, the Company may place Client’s Trading Account to Read-only Status (trading disabled) any time and without any notice provided prior to the initiation of the Account Termination Procedure.
• 23.5.2The Company may, but is not obliged to, open an internal investigation in order to verify its suspicions. During that time, the Company may suspend the Account, either by prohibiting additional deposits, declining Orders, declining or delaying any withdrawal requests, refunding balance to the deposit source, terminating existing Positions and/or any other means it is allowed or required, subject to Applicable Law. The Client agrees that the Company shall not be liable for any loss, damage or expense of any kind which the Client may suffer as a result of such cases.
• 23.5.3Notwithstanding the above, the Company at its absolute sole discretion, reserves the right to transfer and/or retain any or all funds that the Client may have in any of his/her Trading Account if there is an indication or suspicion of either fraud, abuse, manipulation, deceitful, fraudulent activity or violation of the Agreement by the Client.

• 23.6.1An issuance of an application, order, resolution or other announcement in relation to bankruptcy or winding-up or dissolution or cessation proceedings of the Client.
• 23.6.2The Client either undertaking or deemed by the Company (in its absolute sole discretion) to be involved or attempting to undertake any arbitrage circumstances.
• 23.6.3Such termination being required by any competent regulatory authority or body, or we are obliged to do so by operation of Law.
• 23.6.4The Client’s trading activity affects in any manner the reliability and/or smooth operation and/or order of the Company’s Trading Platform. The Client trading in such a way that may harm the Firm’s ability to have and/or to provide an effective service.
• 23.6.5In case that the Company deems whether on its own or through any of the Company’s Credit Institutions or Payment Provider reports that a specific transaction may be deemed to be fraudulent;
• 23.6.6The Client fails or omits to disclose to the Company his/her capacity as the beneficial owner of more than one accounts being maintained with the Company and/or his/her capacity to act as a regulated money manager on behalf of any other Clients of the Company;
• 23.6.7If the Company suspects that the Client is engaged into money laundering activities or terrorist financing or other criminal activities
• 23.6.8The Client involves the Company in any type of fraud or illegality;
• 23.6.9If any event of default (however described) occurs in relation to the Client under any other agreement between the Client and the Company.
• 23.7A Termination of the Agreement shall not imply that any of the Client’s responsibilities cease to exist; the latter shall still be liable to pay to the Company.
• 23.7.1Any amount that is due to the Company.
• 23.7.2Any expenses that are incurred by the Company, as a result of the termination of the Agreement, and
• 23.7.3Any damage that has arisen because of an arrangement settlement.
• 23.7.4Any profit that the Client acquired from the date of registration, as the Company deems necessary.
• 23.8The Company reserves the right to reverse any transactions that are deemed to be contrary to the Company’s or the Client’s interests.
• 23.9The Client understands, agrees and hereby authorises the Company to apply procedures described below, to terminate the Clients’ Account(s) containing their funds at the time of the Termination, if the Company, in its sole discretion, deems such Account Termination as necessary:
• 23.9.1If the Company Terminates the Agreement after Client’s deposit has been credited to their trading Account, but the Client has not placed any trades since then, the Company shall return Client’s initial deposit applying its Refund Procedure described in detail in the Client Money section of the Agreement, regardless of whether the Client has applied for a Refund or not.
• 23.9.2If the Company Terminates the Agreement after Client’s deposit has been credited to their trading Account and the Client has already entered into trades, but at the time of Account termination there are no open Transactions on the Client’s relevant Trading Account, the Company shall apply the Withdrawal Procedure described in detail in the Client Money section of the Agreement, regardless of whether the Client has applied for a Withdrawal or not.
• 23.9.3If the Company Terminates the Agreement after Client’s deposit has been credited to their trading Account and the Client has already entered into trades, and at the time of the Account Termination there is/are open Transaction(s) on the Client’s relevant Trading Account, the Company shall automatically close all trades, regardless whether the Client intended to close their Transactions or not, and then, apply the Withdrawal Procedure to the remaining account balance, as described in detail in the Client Money section of the Agreement, and regardless whether the Client has applied for a Withdrawal or not.
• 23.10Without prejudice to the any other paragraph of the Termination and Default section of the Agreement, if the Company suspects that:
• i) the Client had breached his/her representations and warranties,
• ii) the Client provided the Company with inaccurate, incomplete or false information or documents,
• iii) the Client’s Account constitutes or may constitute an Anti-Money-Laundering and Prevention of Terrorism Financing or other regulatory risk;
• iv) the Client is abusing the Company’s Negative Balance Policy;
• v) the Client uses the Company’s Trading Platform and/or gives Orders or enter into Transactions within the definition of market abuse (as such term is defined in the Market Abuse Law) or in any other abusive way, including lag trading and/or usage of server latency, price manipulation, time manipulation or any other practices which are illegal and/or are utilized to give the Client an unfair advantage or which the Company considers, at its sole discretion, as inappropriate and outside the scope of this Agreement and/or as unfair business conduct;
• vi) the Company did not receive the additional and/or updated information and/or documentation required within the time frame determined by the Company.
• 23.10.1The Client understands and agrees that where the Company has sufficient reason to believe that the Client have been acting contrary to good faith or where the Client may have been engaged in illegal and/or immoral activity and/or in instances where the continuation of the provisions of Company’s services may result in a breach of Firm’s regulatory or other obligations, the Company has the right to temporarily and/or permanently suspend Client’s access to the platform(s) and/or Account(s) and/or terminate the Agreement in its entirety and/or place any internal restrictions and/or take any other action as the Company may deem as fitting in the circumstances
• 23.11The Client agrees that the Company shall not be liable for any loss, damage, or expense of any kind which the Client may suffer as a result of Account Termination and/or Client’s limited access to the Company’s Trading Platform.
• 23.12Archiving of Accounts
• 23.12.1The Company reserves the right to Deactivate and Archive Client’s Account(s) if such Account(s) is/are qualified to be archived.
• 23.12.2Accounts in which there is no remaining balance and there has been no trading activity for a period of 30 consecutive days will be considered by the Company as inactive. In such cases, the Company reserves the right to deactivate and archive any such Account(s) without providing any notice to the Client.
• 23.12.3The Client hereby agrees and authorizes the Company to deactivate and archive their Account(s) if they said Account(s) has/have meet the criteria described in the paragraph 23.12.2 of the Agreement.
• 23.12.4Should the Client wish to reactivate the account, it is provided that the Company may do so at its sole discretion, provided the Client meets the request to update his/her Verification Documents and/or information required as described in the AML & KYC Policy.

• 25.5.1Once we will receive your Complaint, we will provide you with a written acknowledgment (via e-mail), confirming that we have received your Complaint and we are investigating it. You shall receive the above-mentioned acknowledgment within five (5) working days.
• 25.5.2We will investigate your Complaint and reply to you within thirty (30) working days, informing you about the outcome of our investigation and providing you with our Final Response regarding your Complaint.

• 25.6.1Any Complaint regarding Order Execution (i) price, (ii) cost, (iii) speed, and (iv) method shall be submitted to the Company in writing within two (2) working days from the execution of the problematic order.
• 25.6.2No Complaint shall be valid if submitted after six months of its alleged occurrence and should be deemed to be settled in full upon the expiry of the said 6 months period. The Client hereby waives any rights it may have inclusively the right to submit any complaint or claim or allegation outside the permitted timeframe of six months from the day that the said alleged occurred, irrespectively of the nature of the event (i.e. trade, refund, etc.) or the size of the Complaint.

• 27.1.1The Client is more than eighteen (18) years old or otherwise legal age in their country of residence, sound mind and is capable of taking responsibility for their own actions.
• 27.1.2The Client is duly authorized to enter into this Agreement, to give Orders, instructions and requests, appoint an Authorized Representative and to perform their obligations hereunder.
• 27.1.3The Client is an individual who has completed the Registration Process or, if the Client is a legal entity, the person who has completed the registration on the Client’s behalf is duly authorized to do so and has the authority to bind that legal entity to this Agreement.
• 27.1.4The Client is not an employee, director, associate, agent, partner, relative, or otherwise connected to the Company, other entities in the Company or any partner thereof.
• 27.1.5The Client is not an employee of any firm whose securities are an underlying asset of a CFD offered by the Company.
• 27.1.6The Client has read the Risk Disclosure notice and is fully aware that there is a risk of losing money when trading Financial Instrument(s) and is fully responsible for any such loss. In relation to Client’s losses they shall have no claims whatsoever against the Company or any of its partners or their respective directors, officers or employees
• 27.1.7All details provided by the Client to the Company either during the Registration Process or at any time, thereafter, including as part of any payment deposit transaction, are true, up-to- date, correct and complete and match the name(s) on the credit/debit card(s) or other payment accounts to be used to deposit or receive funds in the Client’s Account.
• 27.1.8All actions performed under this Agreement will not violate any law, regulations or rule applicable to the Client or to the jurisdiction in which the Client is resident, or any agreement by which the Client is bound or by which any of the Client’s assets or funds are affected.
• 27.1.9The Client has chosen the particular type of service and Financial Instrument, taking their total financial circumstances into consideration and they consider such investment reasonable under such circumstances.
• 27.1.10The Client acts for himself/herself and not as a representative or a trustee of any third person, unless the Client produced, to the satisfaction of the Company and at its sole discretion, a power of attorney enabling the Client to act as representative or trustee of any third person.
• 27.1.11All funds deposited by the Client to their trading account belong to the Client, are free of any lien, charge, pledge and any other encumbrance and were not obtained by the Client, either directly or indirectly, from illegal activity. If the Company reasonably suspects that the client is in breach of the above warranty, it may, without derogating from its other rights under this agreement and applicable law, to freeze the Account, either by prohibiting additional deposits, declining Order and/or declining or delaying any withdrawal requests, terminating existing Positions and/or any other means it is allowed or required to take under Applicable Law. The Client agrees that the Company shall not be liable for any loss, damage or expense of any kind which the Client may suffer as a result of such cases.
• 27.1.12The Client acknowledges that all Transactions will be performed only through the Trading Platform(s) provided by the Company and the Financial Instruments are not transferable to any other Trading Platform(s) whatsoever.
• 27.1.13The Client agrees not to use the Trading Platform and/or give an Order or enter into Transaction within the definition of market abuse (as such term is defined in Chapter 10 of the Financial Markets Act, 2012) or in any other abusive way, including lag trading and/or usage of server latency, price manipulation, time manipulation or any other practices which are illegal and/or are utilized to give the Client an unfair advantage or which the Company considers, at its sole discretion, as inappropriate and outside the scope of this Agreement and/or as unfair business conduct.
• 27.1.14The Client shall not allow any third party (including a relative) to use their Account, Access Codes or identity to access or use the Services (including depositing funds from third parties) or the Trading Platform and the Client shall be fully responsible for any activities undertaken on his/her Account by a third party using the Client's Access Codes.
• 27.1.15The Client is solely responsible for any telecommunications networks and Internet access services and other consents and permissions required in connection with their use of the Company’s Website, the Trading Platform and the Services. Client shall be responsible for all access and service fees necessary to connect to the Company’s Website and the Trading Platform and assumes all charges incurred in accessing such systems. The Client further assumes all risks associated with the use and storage of information on the Client’s personal computer or on any other computer or electronic device through which the Client will gain access to the Company’s Website, the Trading Platform and the Services.
• 27.1.16The Client will implement, operate and maintain appropriate protection in relation to the security and control of access to his/her computer, and against computer viruses or other similar harmful or inappropriate materials, devices, information or data.
• 27.1.17The Client will not commit any acts or display any conduct that damages the reputation of the Company.
• 27.1.18In order to communicate with the Company via e-mail, the Client will use only their registered e-mail address, which they have provided the Company with during the registration process.
• 27.1.19The Client acknowledges that no representations were made to him by or on behalf of the Company which have in any way incited or persuaded him to enter into this Agreement.
• 27.1.20The Client acknowledges that they are opening an account with the Company after visiting at their own exclusive initiative the Company’s Website. The Client confirms that the opening of the account is not the result of direct solicitation from the Company.
• 27.1.21The Client acknowledges and agrees that initiation of the business relationship between the Client and the Company occurs once the Client accepts the Terms and Conditions of Use.

• 28.1Unless indicated to the contrary, the defined terms included in the Terms and Conditions of Use shall have a specific meaning and may be used in the singular or plural as appropriate.
• 28.2Access Code(s): Shall mean the username and password given by the Company to the Client for accessing the Trading Platform and/or Members Area.
• 28.3Account: Shall mean, the uniquely assigned account that is created for a Client when such Client opens a trading account with the Company.
• 28.4Account Statement: Shall mean periodic statement of the Transactions credited or debited to an Account.
• 28.5Agreement: Shall mean this Agreement, inclusive of all its annexes, appendices, addenda, attachments schedules and exhibits and amendments, as the same may be in force from time to time and modified and amended from time to time.
• 28.6Ask Price: Shall mean the price at which the Company is willing to sell a financial instrument. As supplied by the Company’s’ market maker.
• 28.7Balance or Cash Balance: Shall mean the funds available in a trading account that may be used for trading financial instruments.
• 28.8Balance Currency or Profit currency: Shall mean the currency that the trading account is denominated in; it should be noted that all charges including spreads, commissions and swaps, are calculated in that currency.
• 28.9Base Currency: Shall mean the first currency represented in the currency pair, for example in the EUR/USD currency pair the base currency is EUR.
• 28.10Bid Price: Shall mean the price at which the Company is willing to Buy a financial instrument. As supplied by the Company’s’ market maker.
• 28.11Closed Position: Shall mean the opposite of an open position, thereby nullifying it and eliminating the initial exposure. Thus, profit or loss will be settled.
• 28.12Company’s Website: Shall mean the website that belongs to the Company: https://ct/za
• 28.13Contract: Shall mean any contract, unless the context otherwise requires, oral or written, for the purchase or sale of any commodity, security, currency or any other Supported Financial Instrument or property, including without limitation, any derivative contracts, such as CFDs or other transactions related thereto, entered into by and between the Company and its Client(s).
• 28.14Contract for Difference (CFD): Shall mean a contract between the Client and the Company’s’ market maker, for the difference between the value of an Underlying Instrument at the time of opening the Transaction and the value of such Underlying Instrument at the time of closing the Transaction, including any interest adjustments (including spread) or Overnight Financing, if applicable. The Company is not the counterparty to the CFD but merely acts as intermediary between the market maker and the Client.
• 28.15Corporate Actions: Shall mean any actions taken by the issuer, whose listed securities are associated with the financial instruments traded through the Company’s trading platform(s), including but not limited to instances of: (i) stock split and reverse split (ii) consolidation, (iii) rights issue, (iv) merger and takeover, (v) dividends, (vi) Spin Offs.
• 28.16Counter Currency: Shall mean the second currency represented in a currency pair, for example in the EUR/USD currency pair variable currency is the USD.
• 28.17Declared Price: Shall mean the price that the Client requested for either a Market Order, Price Range or Limit Order and pending or an entry order.
• 28.18Dormant Account: Shall mean any account with no activity (trading/withdrawal/deposit) for a set period of at least 90 (ninety) calendar days.
• 28.19Effective Date: Shall mean the date on which the Agreement enters into effect; a date when the Client initiates a business relationship with the Company.
• 28.20Electronic Trading Platform(s): Shall mean online electronic trading platform(s) that is/are made available by the Company to its Clients for placing Orders, requesting Price Quotes for Transaction(s) and/or Contract(s), receiving price information and market related laws as well as having a real-time revaluation of their open positions, through the Internet, where Transactions and/or Contracts in Financial Instruments can be processed through deal Requests and Deal Responses, Settlement Trade Confirmations can be issued, Accounts can be managed and historical data can be stored and managed.
• 28.21Equity: Shall mean the balance + Credit plus or minus any profit or loss that derives from any open position.
• 28.22Execution Venue: Shall mean a regulated market, a multilateral trading facility or a market maker or another liquidity provider or an entity performing in a third country a similar function to the functions performed by any of the foregoing.
• 28.23Financial Instruments: All instruments that the Company is authorized to offer, pointed in the Scope of Services section of this Agreement, as supplied by the Company’s’ market maker.
• 28.24Force Majeure: Shall mean any event beyond the reasonable control of the Company, which prevents the Company from complying with any of its obligations under this Agreement, including but not limited to: acts of God (such as, but not limited to, fires, explosions, earthquakes, drought, tidal waves and floods); war, hostilities (whether war be declared or not), invasion, act of foreign enemies, mobilization, requisition, embargo, rebellion, revolution, insurrection, military or usurped power, civil war, riot, commotion, strikes, go slows, lock outs, disorder and acts or threats of terrorism; acts and regulations of any governmental or supra national bodies or authorities that, in the Company’s opinion, prevents the Company from maintaining an orderly market in one or more of the Financial Instruments or CFDs in respect of which the Company deals on the Trading Platform(s); the occurrence of an excessive movement in the level of any Transaction and/or Financial Market and/or Underlying Instrument or the Company’s anticipation of the occurrence of such a movement; any breakdown or failure of transmission, communication or computer facilities, interruption of power supply, or electronic or communications equipment failure; or the failure of any relevant supplier, financial institution intermediate broker, agent or principal of the Company, custodian, sub-custodian, dealer, exchange, feed provider, clearing house or regulatory or self-regulatory organization, for any reason, to perform its obligations.
• 28.25Free Margin: Shall mean funds that are available for opening a position. It is calculated as: Free Margin = Equity – Margin.
• 28.26Leverage: Shall mean the practice of using Margin in order to increase the potential return of an investment which also symmetrically increases a potential loss. Trading on leveraged capital means that the Client can trade in amounts significantly higher than the funds he/she has invested, which only serves as the margin.
• 28.27Limit Order: Shall mean an instruction to open or close a Transaction at a price that may be available in the future which is executed in accordance with the Company’s Order Execution Policy
• 28.28Lot: Shall mean the unit that represents the volume of a transaction. It should be noted that 1 lot equals 100,000 units of base currency, for example 1 lot in EUR/USD equals EUR 100.000; therefore, 0.1 of a lot is 10,000 units of base currency. Lot size vary between symbols.
• 28.29Market: Shall mean any regulated market, or multilateral trading facility on which Underlying Instruments are being traded.
• 27.30Market Order: Shall mean an order in which the Company makes every effort to execute at the best available price. Generally, this order will be executed immediately. However, the price at which a market order will be executed is not guaranteed and may be executed at a worse or better price.
• 28.31Mark-UP: Shall mean the additional spread added on the bid or ask quotes received from the various liquidity providers / market maker.
• 28.32Margin or Margin Used: Shall mean the committed funds for the purposes of maintaining an open position.
• 28.33Margin Call: Shall mean the situation, which occurs when the account’s equity is about to drop below the margin requirement needed to maintain open position(s).
• 28.34Margin Level: Shall mean the Equity to Margin ratio calculated as Margin Level = Equity / Margin.
• 28.35Negative Slippage: Shall mean the difference between the expected executed price of an order, and the price at which the order is actually executed at. In this case the order executes at a worse price.
• 28.36Company’s Trading Platform: Shall mean both the Client Portal and/or Partner Portal and MT5 Trading Platform.
• 28.37Open Position: Shall mean any transaction or contract which resulted from an executed order, and which is still in effect, unsettled, non-concluded, by assuming varying profit or loss in accordance with price movements of financial instrument(s).
• 28.38Over-the-Counter (OTC): Shall mean trading of financial instruments directly between two parties, outside of an exchange traded environment.
• 28.39Party: Shall refer to the Company and/or its Client(s), as the case may be, as it appears from the context in which the term is used in this Agreement; the Company and its Client(s) may collectively, be referred to in this Agreement as the “Parties”.
• 28.40Pending Order or Entry Order: Shall mean either a buy stop, or sell stop, or buy limit, or sell limit order. An order to be executed at a later time and at a price that the Client has specified.
• 28.41Politically Exposed Person: Shall mean a natural person who has its place of residence in a European Union Member State or in third countries, and who is or has been, or any of its immediate family members or persons known to be close associates of such person are or have been, entrusted with prominent public functions.
• 28.42Positive Slippage: Shall mean the difference between the expected executed price of an order, and the price at which the order is actually executed at. In this case the order executes at a better price.
• 28.43Price Gap: Shall mean an area on a chart where the price of a financial instrument moved sharply up or down with little or no trading in between. As a result, the asset's chart shows a "gap" in the normal price pattern.
• 28.44Price Range or Limit Order: Shall mean an order to sell a financial instrument at no less than a specific price or to buy a financial instrument at no more than a specific price.
• 28.45Read - only Status: As the account is turned to Read-only Status, this means that NO trading activity can be performed by and/or on the behalf of the Client. The Client cannot open any position or close any existing positions, but he/she is able to log in to his/her account and read his/her trading history.
• 28.46Registration Process: Or Online Account Opening Procedure shall mean the Client’s application to open an Account with the Company which includes, but not limited to, the provision of the Client’s personal and financial details and the identification, and verification of the Client by the Company which shall conclude in either opening an Account or the rejection of the application.
• 28.47Stop Loss: Shall mean an instruction that is attached to an open order if the type is a market order and an instruction that is attached to a price range or limit order before execution for minimizing loss. In the case of market order negative or positive slippage might occur.
• 28.48Spread: Shall mean the difference between the Bid and Ask prices quoted in the Company’s trading platforms.
• 28.49Swap: Shall mean the overnight interest rate credited or debited on the open position.
• 28.50Take Profit: Shall mean an instruction that is attached to an open order if the type is a market order and an instruction that is attached to a price range or limit order before execution for securing profit. In the case of a market order negative or positive slippage might occur.
• 28.51Terms: Shall mean these Terms and Conditions which governs Company’s relationship with its Clients.
• 28.52Trading Account: Shall mean the account, which has a unique number, maintained by a Client for the purposes of trading financial instruments through the Company’s trading platform(s).
• 28.53Trailing Stop: Shall mean a stop loss order input in terms of points (pips) below the market price - for a long position and above the market price – for a short position. The trailing stop price is adjusted as the price fluctuates.
• 28.54Value Date: Shall mean the delivery date of funds.
• 28.55Working Day: Shall mean any day on which banks are open for business.