Terms and Conditions of Dealing / Trading
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- Terms and Conditions of Dealing / Trading
Access to the Trading Platform:
1.1 The trading platform is used to send, receive, and confirm the execution of orders, in accordance with prevailing market conditions and applicable rules and regulations.
1.2 The Company agrees to grant the Client the right to access and use the trading platform, whereby each client will have a unique password.
1.3 The Client bears full responsibility for all trading operations executed through the automated system, including the financial liability risks for transactions executed by unauthorized third parties.
1.4 The Client is responsible for monitoring their account(s) and must notify the Company in writing immediately if they become aware of any of the following:
o 1.4.1 Any loss, theft, or unauthorized use of the Client’s password.
o 1.4.2 Any failure on the Client’s part to receive a message confirming that the order has been received and/or executed.
o 1.4.3 Any failure to obtain accurate confirmation of order execution.
o 1.4.4 Any receipt of a confirmation and/or execution of an order that the Client did not submit.
o 1.4.5 Any inaccurate information in account balances, positions, or transaction history.
Order Execution:
2.1 Any market price instant execution orders sent by the Client through the Company’s trading platform are considered irrevocable requests and will be executed immediately by the Company.
2.2 All trades are executed online through the Company’s trading platforms.
2.3 Trading via telephone contact with the Company is an emergency option only.
2.4 Any system failure may result in the order not being executed according to the Client’s request or not being executed at all.
2.5 If the Client engages in any form of improper trading, including, but not limited to, strategies aimed at exploiting errors in prices or incorrect trades (unless otherwise specified in the trading terms) or strategies prohibited by the Company’s trading terms, the Company reserves the right to take one or more of the following actions:
o 2.5.1 Adjust the prices and spreads available to the Client.
o 2.5.2 Withdraw from the Client’s account any trading profits gained through the misuse of trading terms.
o 2.5.3 Suspend the Client’s account with prior notice.
o 2.5.4 Limit the list of account types, tools, strategies, and other products available to the Client.
o 2.5.5 Terminate the relationship with the Client immediately by giving them written notice.
2.6 All orders are executed at the market price.
2.7 The Company reserves the right to cancel and delete any pending transaction/order executed at an incorrect price without prior notice.
2.8 The Company reserves the right to modify spreads on all products or selected products throughout the period of news releases and in all volatile markets.
2.9 The Company will notify the Client via available communication channels in the event of changes to its commissions, fees, margin requirements, payments, leverage, and/or the closure or modification of available account types.
2.10 The Client must understand and accept that all orders are executed automatically according to market prices.
Pending Orders:
3.1 All pending orders are guaranteed according to the market price.
3.2 All pending orders must be submitted in accordance with the specifications of the products or instruments available on the Company’s website.
3.3 Once pending orders become active for execution, the Company’s system will reject any attempt to cancel or modify them during that time.
Cancellation of Orders:
4.1 The Company reserves the right to limit the number or types of positions (such as take profit, stop loss, buy stop, and sell stop orders) in the Client’s account and close any positions that exceed that limit. The Client accepts and undertakes not to exceed these limits.
4.2 Any pending orders will be automatically canceled after the markets close on the last business day of the week.
Inactive Accounts:
5.1 If the Client does not trade on the account for a period exceeding (3) three months, the account will be automatically removed from the Company’s system to the archive.
5.2 The Client will then be required to reactivate the account before commencing any transactions, and the Company may request additional documents from the Client to reactivate the account.
Trading Errors:
6.1 In the event of a trading error in the Client’s account, the Client must immediately send an email to the Company’s support department.
6.2 The Company will need the following information to assist the Client in this regard:
o 6.2.1 Client’s full name.
o 6.2.2 Client’s account number.
o 6.2.3 Detailed description of the situation.
o 6.2.4 Position number in the Client’s account, if possible.
o 6.2.5 Client’s direct contact information.
6.3 The Client must report any trading error they have made within 24 hours.
6.4 Any trading error will be adjusted if the Company was the cause of it.
Liquidation of Accounts:
7.1 The Company reserves the right to terminate the relationship with the Client if the Client violates the applicable trading regulations.
7.2 According to the account type and the terms of the Dealing/Trading Agreement, when the agreed liquidation level is reached, the open positions will be liquidated (closed) gradually until the margin level rises above the liquidation level.
7.3 An account that holds only open hedging positions where the number of buy positions equals the number of sell positions for each traded instrument remains without the need for financial reinforcement until any of them is closed without the other or a new position is added to them. At that point, all hedging positions are automatically treated as regular positions, and their required margins and liquidation levels are calculated accordingly, according to the Company’s policy and what has been agreed upon.
7.4 Pending orders may not be deleted at the liquidation level if there is sufficient margin on the account to activate these orders.
7.5 Pending orders will be canceled at the liquidation level if there is insufficient margin on the account to activate the orders.
7.6 Accounts may be liquidated in accordance with the terms of this Agreement.