Terms and Conditions - Client Agreement
Classic Account Client Agreement 1. Introduction 1.1 This agreement, along with the Company's Risk Disclosure Document, as well as any legally binding document entered into between the Company and the Client, all as amended from time to time (together: the "Agreement"), set out the terms upon which the Company will deal with the Client in respect to placing and executing foreign exchange rates and other financial instruments transactions orders, on the Company's trading platform ("Forex Trading"), and any other service made available by the Company to the Client.2. Opening of the Trading Account 2.1 The Company will open an account for the Client (the "Trading Account") as soon as reasonably practicable after: (i) the Company has received confirmation that the Client has agreed to enter into this Agreement (such confirmation can be made by checking the "I AGREE" button or link on the Company's Website (the "Website")), followed by a completed application form (if applicable) and all other information on the Client required by the Company to be provided. The Client confirms that all information provided by it is full, accurate and complete. If there is a change in relation to any of the information provided by the Client, the Client must notify the Company immediately of any such change. 2.2 The Trading Account will be activated by the Company as soon as the Company has identified the funds credited by the Client to the Trading Account. However, if the Company opens a Trading Account and funds are credited to it before the Company is satisfied that all requirements in relation to the opening of such Trading Account under Applicable Regulations , have been complied with, then either: (i) the Company need not activate the Trading Account and in such circumstances no trading shall be permitted in relation to a Trading Account; or (ii) the Company may activate the Trading Account and permit trading in relation to the Trading Account subject to such limitations, and to the satisfaction of such further requirements in relation to the opening of such Trading Account under Applicable Regulations as the Company may impose (for example, in relation to the provision of further information on the identity of the Client). In the event that a Trading Account is activated but any such requirements are not complied with, the Company may freeze the Trading Account by closing out all existing positions and no further trading shall be permitted in relation to the Trading Account. Where a Trading Account is not activated or is frozen, no funds held by the Company in respect of that Trading Account may be transferred back or to any other person until the Company is satisfied that all Applicable Regulations have been complied with.2.3 In relation to any Transaction entered into pursuant to the Agreement the Company may act, according to the Company's sole discretion as principal or as agent on the Client's behalf. Therefor the Company may act as the counter party to the Clients Trading activity. The Client confirms that it acts as principal and not as agent or trustee on behalf of someone else. Accordingly, the Client agrees that it shall be directly and fully responsible for performing the obligations of the Client under this Agreement, including in respect of each Transaction made by or on behalf of the Client. The Company shall not accept any other person as an indirect client in respect of this Agreement and shall accept no obligation to any such person unless otherwise specifically agreed in writing.2.4 Usage of the Trading Platform provided by the Company is by limited license given by the company to the client. The license is personal, non-transferable and is subject to this Agreement. The Client may not transfer, assign, and enable other to make any use of the license, and/or give the Clients access codes to the Trading Account to anyone. Any action taken in contradiction to these terms and any damage caused to the client, the company and any third party will be under the client's sole responsibility.2.5 The Client hereby represents and warrants that his engagement with the Company in to this Agreement and his use of the Company's services are in full compliance with the law applicable to the Client.3. Funds 3.1 The Client may transfer funds to the Company with different methods of payment as permitted by the Company from time to time and in any currency (acceptable by the Company), and such funds will be converted and managed in the Trading Platform in US Dollars or Euro, as applicable, according to an exchange rate determined by the Company's according to the known rates at the Market.3.2 When making a bank transfer, the Client must send the Company an authentic SWIFT confirmation, stating full bank account details and proof that the bank account is registered under its name. Non-delivery of the SWIFT confirmation or the details not conforming to the Client's details registered at the Company may result in the funds not being credited to the Client's Trading Account and the return of the funds transferred to the Company.3.3 When making a funds transfer to the Company by cheque or any other method permitted by the Company in accordance with Applicable Regulations, the Client will be required to identify itself according to the Company's regulations and any Applicable Regulations. The Company does not accept transfers of cash. The Client is required to provide such further full and true information and sign any document required by the Company to enable proper operation of the Trading Account.3.4 Whenever the Client transfers funds to the Company, those funds belong to the Company and will be treated by it as its own for the purpose of securing or covering the Client's present, future, actual, contingent or prospective obligations, subject only to any contractual obligation of the Company to pay or return money to the Client according to the terms of this Agreement. The Client will not have a proprietary claim over money transferred to the Company, and the Company can deal with it in its own right. In determining the amount of collateral and the amount of the Company's obligations to pay or return money to the Client, the Company may apply such methodology (including judgments as to the future movement of markets and values), as the Company considers appropriate, consistent with Applicable Regulation.3.5 The Funds deposited with the Company by the Client, together with any Profit or other Benefits the Client may be entitled to according to a specific agreement with the Company, shall be used as security to any Transaction, including Trading Losses, Commission and any other Fee or debt owed by the Client to the Company, which will be automatically deducted from the Client's equity in the Trading Account. The Client's Funds shall not accumulate any interest or any other benefits (except for rollover/swap calculation, as defined below). Trading in CFD's, binary options or other trading methods that relate to a reference security shall not grant the Client any right to dividends, voting, allocations or any other Benefits, but may be subject to adjustments according to financial events which affect the reference security, such as distribution of dividends, splits etc.3.6 Repayment of any funds by the Company to the Client will be in the same currency and to the same account/credit card from which the funds were originally transferred, unless the Company has decided, by its own discretion, to return the funds to a different account of the Client.3.7 The Client declares that all funds that it transfers to the Company do not derive from any criminal or other illegal activity and without any violation of any applicable anti money laundering laws and regulations.3.8 The Client will have no claim against the Company and will not hold the Company responsible for any delay and/or differences originating from a credit company's rates calculation and/or commission and/or any other debit, including credit companies' identification regulations and any other demand. In addition, the Client will have no claim against the Company and will not hold the Company responsible for any delay and/or differences and/or any commission etc. originating from banking system.3.9 If the Client gives an instruction to withdraw funds from the Trading Account, the Company shall pay the specified amount (less any transfer charges, if applicable) within ten (10) Business Days once a duly instruction has been accepted and at the moment of payment, the Client's margin requirements have been met. The Company may cancel the Client withdrawal order, if, according to the Company's discretion, the remaining funds (after the withdrawal) shall not be sufficient to secure open Position(s) in the Trading Account.3.10 The Company shall debit the Client's Trading Account for all payment charges. If the Client has the obligation to pay any amount to the Company which exceeds the amount held in the Client's Trading Account, the Client shall immediately pay such amount upon Company's request.3.11 The Company shall not provide physical delivery in relation to any Transaction. As mentioned above, Profit or loss is credited to or debited to or from the Trading Account (as applicable) once the Transaction is closed.4. Fees & Charges 4.1 The Company does not charge brokerage fees or commissions for executing trades (not including ECN's trading accounts). The Company derives revenue from the spread on Transactions (i.e. the difference between buy/sell prices quotes offered by the Trading Platform to the Client). It is the Client's responsibility to decide whether or not it wishes to trade at such prices. 4.2 The Company charges a fee for transfers of funds standing to the credit of a Trading Account from the Company to the Client at its prevailing transfer rate, currently equivalent to USD 35 USD per transfer, and this amount will be a deducted from the Client's Trading Account. 4.3 The Company may levy an additional charge(s) on transfers of funds to be credited to a Trading Account made by debit card or credit card. 4.4 The Company may introduce additional fees and charges, and may change any existing fees and charges, at any time by giving the Client not less than 10 Business Days' notice of such changes.5. Trading 5.1 The Trading Platform supplied by the Company enables trading in foreign exchange rates of different currencies, commodities, CFD's and any other financial instruments made available by the company (all hereof: "Financial Instruments"). The Trading Platform displays Indicative Quotes of exchange rates of different financial instruments pairs, based on different financial information systems, as the most updated exchange rates in the international Forex markets. For determining the exchange rates for different time periods, the platform is making mathematical calculations according to known and accepted Forex markets formulas. It is acknowledged by both Parties that due to different calculation methods and other circumstances, different trading platform and/or markets may display different price quotes.5.2 The Company's Trading Services are available during regular Forex Trading hours, Monday-Friday. A Trade is ended in any of these events: (A) the Client closes the Transaction; (B) The Transaction meets with stop loss, take profit or other predefined criteria set by the Client or the Company under this Agreement (see clause 6 for further information on order types); (C) the Transaction expires according to the expiration time set by the Client or the Company, if applicable; (D) The Client does not have sufficient funds in their Trading Account to hold that Transaction open.5.3 The Company does warrant that trading in the Trading Account will be available at all times.5.4 Placing orders - Orders may be submitted to the Company by the Company's electronic Trading Platform via the internet, telephone, unless the Company informs the Client that a particular order can only be given in a particular way. If any order is received by the Company by telephone, computer or other way, the Company may ask the Client to confirm such order in writing. The Company shall be under no obligation to act upon such order until such confirmation is received. Orders for the simultaneous sale and purchase of a financial instrument on behalf of the same beneficial owner may not be given under this Agreement (one shall cancel another).5.5 The Client authorizes the Company to rely and act on any order, request, instruction or other communication given or made (or purporting to be given or made) by the Client or any person authorized on the Client's behalf, without further enquiry on the part of the Company as to the authenticity, genuineness authority or identity of the person giving or purporting to give such order, request, instruction or other communication. The Client will be responsible for and will be bound by all obligations entered into or assumed by the Company on behalf of the Client in consequence of or in connection with such orders, requests, instructions or other communication.5.6 Cancellation/withdrawal of orders by the Client- If the Client requests cancellation of any order, the Company can only cancel such order if the Company has not acted upon such order, or if otherwise agreed by the Company. 5.7 The Company has the right, but not the obligation, to set, at its absolute discretion, limits and/or parameters to control the Client's ability to place orders or to restrict the terms on which a Transaction may be made. Such limits and/or parameters may be amended, increased, decreased, removed or added to by the Company and may include (without limitation): (i) controls over maximum order amounts and maximum order sizes; (ii) controls over total exposure of the Company to the Client; (iii) controls over prices at which orders may be submitted (including, (without limitation, controls over orders which are at a price which differs greatly from the market price at the time the order is submitted to the Company's order book); (iv) controls over any electronic services provided by the Company to the Client (including ,without limitation, any verification procedures to ensure that any particular order or orders has come from the Client); or (v) any other limits, parameters or controls which the Company may be required to implement in accordance with Applicable Regulations. The Company may in addition require the Client to limit the number of open Transactions which the Client may have with the Company at any time. The Company shall notify the Client of the limits and restrictions applicable prior to Client placing an order. 5.8 The company does not allow actions or non-actions based on arbitrage calculations based on different systems or platforms in the Forex markets.5.9 The company is entitled, by its own discretion, to cancel any trade that has been executed due or in connection with an error, system malfunction, breach of the Agreement by Client, etc. The company's record will serve as decisive evidence to the correct exchange rates in the world markets and the wrong rate quote given to the client, and the company is entitled to correct or cancel any trade based on the correct exchange rates. 5.10 Trade Reporting- Client can see his open trades ("positions") and guarantee funds situation at any time by accessing his account in the company's platform and viewing past trade's reports generated by the company.5.11 Promotional Offers and Benefits – the Company may, from time to time and upon a specific agreement with Client, credit benefits or bonus amounts to a Trading Account and a Client will be entitled to use such amounts to make trades and satisfy any margin requirements under this Agreement, but will not belong to the Client and will could be withdrawn from the Trading Account, unless specifically agreed with Company. 6. Orders types 6.1 Limit Order - A Limit Order is an instruction to trade at a level that becomes more favorable to the Client. A Limit Order can be used to open or close a position. Each Limit Order has a specified price limit set by the Client (but subject to the Company's agreement). A Limit Order will be triggered if the Company's bid price (in the case a sell order) or ask price (in the case of a buy order) moves in the Client's favor to a point where the Client's order can be executed. Once the limit level is triggered, the Company will seek to execute the order at that price. If the Company cannot do so (e.g. because in attempting to execute the order, the price becomes less favorable to the Client), the limit order will remain operational, waiting for the price to move again in the Client's favor, such that it is triggered again.6.2 Stop Order– A Stop Order is generally placed to provide some risk protection, for example, in the event of the Client's position moving into loss. A Stop Order can also be used to either open or close a position. Each Stop Order has a specific stop level, set by you (but subject to the Company's agreement). The Stop Order will be triggered only if a transaction takes place on the Company's trading platform at that stop level. Once the Stop Order is triggered, the Company will seek to execute the order at a level that is the same as the stop level (although it may be at a less favorable level). The Company does not guarantee: (a) entry stops (b) stop orders based on hedged trades (two trades in opposite directions both with stop losses in either the same currency or similarly related/correlated currencies), that are an artificial way to create an entry stop (c) slippage trades or market cease of trading (d) instruments other than currencies and/or instruments that do not have 24 hour trading such as CFD's, indices, oil and some other currencies and instruments, during holidays, weekends, news announcements, special events and/or crises may trade through a gap in the market. 6.3 Other orders explanations – Such as OCO'S (One Cancels the other), ID's (If Done) Trailing Stops etc., and more information, can be found on the Company's website. 6.4 Rollovers or Swaps- a Trade is automatically renewed ('rolled over') at night, to the next business day, without the need for the Client's intervention. Such rollovers are accommodated with interest debits or credits to the Trader's Trading Account, based on the interest rate differentials applicable to each currency and taking into account the Company's own costs, depending on whether the position is long or short on the high interest rate currency, i.e. if you buy a currency pair where the base currency has a higher interest rate than the quote currency, then you'll receive interest, and vice versa.6.5 Margin call - In the event that the client fails or is expected to fail to meet the amounts required to secure his open trades, the Company may demand that the client shall deposit such sums as required ('margin call'). In case the Client fails to meet such margin call, the Company may close out the Client's position(s) ('stop out'). The Client acknowledges and agrees that this may result in a Transaction being closed out at a less favorable time or rate than might otherwise be the case and the Company shall not have any liability to the Client as a result of it closing out any Transaction in such circumstances. In case that the Client has deposited funds within 30 days from 'stop out', than any special contractual terms with the Client shall be reserved.7. Privacy and Data Protection 7.1 Due to the nature of the Company's business and relations with the Client, The Company shall hold some personal client information. All data collected, whether it is on paper or on a computer is safeguarded in order to maintain the Client Privacy.7.2 The Company shall be permitted to use and/or disclose the Client Information (a) For internal use, including with affiliated entities; (b) As permitted or required by law; (c) For protection against or prevent actual or potential fraud or unauthorized transactions or behavior (d) For computerized supervision of Client's use of the services, review and/or supervision and/or development and/or maintenance of the quality of services; (e) to protect the Company's rights or obligation to observe any applicable law.7.3 The Client hereby grants the Company his/her permission to make use of his/her user details in order to provide updates and/or information and/or promotion or marketing purposes through the Clients e-mail address or other contact information. Cancellation of this consent shall be performed by providing written notice to the Company, and shall apply to new publications that have not been sent. 7.4 The Client agrees that the Company may record all conversations with the Client and monitor (and maintain a record of) all emails sent by or to the Company. All such records are the Company's property and can be used by the Company, amongst other things, in the case of a dispute between the Company and the Client.7.5 Affiliation- the Company may share commissions and charges with its associates, introducing brokers or other third parties or receive remuneration from them in respect of contracts entered into by the Company. Such affiliates of the Company may be disclosed with Clients information. 7.6 The Company's Trading Platform, Website or other services may require and use of 'Cookies'.8. Advice, Information and Tax 8.1 The Company does not advise its clients in regard to the expected profitability of any trading action or non-action, and any tax or other consequences. The Client represents that it has been solely responsible for making its own independent appraisal and investigations into the risks of the Transaction. The Client represents that it has sufficient knowledge, market sophistication and experience to make its own evaluation of the merits and risks of any Transaction. The Client acknowledges that he has read and understood the Risk Disclosure Document which sets out the nature and risks of Transactions to which this Agreement relates. 8.2 Where the Company does provide market commentary or other information: (a) this is incidental to the Client's relationship with the Company. (b) It is provided solely to enable the Client to make its own investment decisions; (c) that the information, at the time it has been received by Client, is still updated. 8.3 The Company shall not be responsible for the consequences of the Client acting upon such trading recommendations, market commentary or other information. 8.4 The Client acknowledges that the Company shall not, in the absence of its fraud, willful default or gross negligence, be liable for any losses, costs, expenses or damages suffered by the Client arising from any inaccuracy or mistake in any information given to the Client. 8.5 The Company is under no obligation to assess the appropriateness of any Transaction for a Client under the Applicable Regulations, to assess whether or not the Client has the necessary knowledge and experience to understand the nature of and risks associated with the Transactions. All risks related to the above are under the sole responsibility of the Client.8.6 Trader's Tax Allocations- Any tax applying on the Client and/or results from the Client's trading activity, including trading profits and/or trading losses and/or any charges and/or deductions made from the Client's Deposit or Client's Equity, shall be under the Client's full and sole responsibility. The Client shall personally report and pay any personal, federal, state and local tax liability he is obligated to, if applied. The Company serves as a mediator only and does not collect deduct, pay or withhold tax from the Client. The Company's reserve the right, if ordered by an official entity, to deduct tax from the Client and deliver it to the proper tax authority as ordered by the official entity. 9. Account Balances 9.1 Account balances and statements are displayed within the trading platform made available to the Client by the Company. Common terms definitions can be found on the Company's Website.10. Closing an account and cancellation of the agreement 10.1 Either party may terminate this Agreement by giving 10 (Ten) days written notice of termination to the other. Either party may terminate this Agreement immediately in any case of any breach of this Agreement or event of Default by the other Party. Upon terminating notice of this Agreement, Client shall be under the obligation to close all open positions, otherwise, the notice shall become void, or the Company shall have the right to close all open positions without assuming any responsibility.10.2 Upon termination, all amounts payable by the Either Party to the other Party will become immediately due. 10.3 Termination shall not affect any outstanding rights and obligations according to the applicable law and the provisions of this this Agreement.11. Indemnities and Limitations of Liability 11.1 THE SERVICES OF THE COMPANY ARE PROVIDED "AS IS" AND "AS AVAILABLE", AND COMPANY MAKES NO WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY AND FITNESS FOR PARTICULAR PURPOSE. THE COMPANY DOES NOT WARRANT THAT COMPANY WEBSITE(S), SERVERS, OR E- MAIL COMMUNICATION ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. THE COMPANY WILL NOT BE LIABLE FOR ANY DAMAGES OF ANY KIND ARISING FROM THE USE OF TRADING PLATFORM OR WEBSITE(S), INCLUDING, BUT NOT LIMITED TO DIRECT, INDIRECT, INCIDENTAL, PUNITIVE, AND CONSEQUENTIAL DAMAGES. 11.2 Client acknowledges and agrees that the Trading Platform follows the relevant market, whether the Client is in front of his computer or not, and whether the Clients computer is switched on or not, and will exercises the order left by the Client if applicable.11.3 The Client shall, upon first demand by the Company, compensate the Company from and against all liabilities, damages, losses and costs (including reasonable legal costs), duties, taxes, charges, commissions or other expenses incurred by the Company. 11.4 The Company shall have the right to set-off any amount owed by the Company to the Client, against any debt or other obligation of the Client towards the Company. In any event of Default of Client (voluntary or involuntary insolvency procedures against the Client) all debts, future debts and other obligations of the Client towards the Company shall become immediately due.12. General Provisions 12.1 The Company has the right to amend the Agreement without obtaining any prior consent from the Client. If the Company makes any material change to the Agreement, it will give at least 10 (Ten) Business Days' notice of such change to the Client. Such amendment will become effective on the date specified in the notice. Unless otherwise agreed, an amendment will not affect any outstanding order or Transaction or any legal rights or obligations which may already have arisen. 12.2 Partial invalidity- If, at any time, any provision of this Agreement is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions of this Agreement nor the legality, validity or enforceability of such provision under the law of any other jurisdiction shall in any way be affected or impaired.12.3 Joint account- If the account is a joint account (on the name of more than one entity), then each of the entities in the account shall be authorized to represent the other entities towards the Company, with no requirement of any prior notice or approval from the other entities. Each of the entities in the account agrees that any notice or instruction given by the Company to any of the entities shall be considered as given to all the entities. In case of contradiction between instructions given to the Company by different entities, then the last instruction received by the Company will prevail. 12.4 Language, Notices and Complaints - All communications between the Company and the Client will be in English or in any Language, suitable both to the Client and the Company.12.5 Unless otherwise agreed, all notices, instructions and other communications to be given by the Company shall be given to the address or fax number provided by the Client, or via e-mail or other electronic means, details of which are provided by the Client to the Company. Any complaint shall be directed to the Company's client services department, who will investigate the complaint and make every effort to resolve it. Such a complaint should be made to: customersupport@4xp.com12.6 Governing Law- These Terms and any relationship between the Company and the Client shall be governed by law applicable in the British Virgin Islands and subject to the exclusive jurisdiction of the British Virgin Islands courts. The Company shall have the right, in order to collect funds owed to the Company by Client or to protect the Company's rights such as good-name, intellectual property, privacy etc., to immediately bring legal proceedings against Client, in the Client's residency and according to the Client's residency applicable law.12.7 No Right to Assign- No rights under this Agreement shall be assignable nor any duties assumed by another party except to/by an affiliate of The Company. Upon assignment to an Affiliate of the Company, the terms of this Agreement may be amended to fit any applicable regulation effective upon the assignee, and Client hereby consent in advance to such regulatory modifications to this Agreement. This Agreement shall be binding upon and inure to the benefit of the successors heirs of the Client. 12.8 Dormant Trading- If the Client will not perform any trading activity or his trading activity will be in very low volume, for the time period defined by the Company, or if the Trader does hold minimum funds in his account, defined by the Company, the Company may charge the account with Dormant Trading commission, at a rate to be determined by the Company from time to time, close any open trade and/or the Client access to the Account and/or terminate this Agreement.We wish you successful trading!
^Top^
ECN Account Client Agreement - ECN Account 1. Introduction 1.1 This agreement, along with the Company's Risk Disclosure Document, as well as any legally binding document entered into between the Company and the Client, all as amended from time to time (together: the "Agreement"), set out the terms upon which the Company will deal with the Client in respect to placing and executing foreign exchange rates and other financial instruments transactions orders, on the Company's ECN (as described below) trading platform ("Forex Trading"), and any other service made available by the Company to the Client.1.2 "ECN", also known as Alternative Communication Trading, is performed through Electronic Communication Network, enables trading the currencies without a dealing desk, allowing a direct access to the Forex interbank market, with the minimum possible re-quotes.2. Opening of the Trading Account 2.1 The Company will open an account for the Client (the "Trading Account") as soon as reasonably practicable after: (i) the Company has received confirmation that the Client has agreed to enter into this Agreement (such confirmation can be made by checking the "I AGREE" button or link on the Company's Website (the "Website")), followed by a completed application form (if applicable) and all other information on the Client required by the Company to be provided. The Client confirms that all information provided by it is full, accurate and complete. If there is a change in relation to any of the information provided by the Client, the Client must notify the Company immediately of any such change. 2.2 The Trading Account will be activated by the Company as soon as the Company has identified the funds credited by the Client to the Trading Account. However, if the Company opens a Trading Account and funds are credited to it before the Company is satisfied that all requirements in relation to the opening of such Trading Account under Applicable Regulations , have been complied with, then either: (i) the Company need not activate the Trading Account and in such circumstances no trading shall be permitted in relation to a Trading Account; or (ii) the Company may activate the Trading Account and permit trading in relation to the Trading Account subject to such limitations, and to the satisfaction of such further requirements in relation to the opening of such Trading Account under Applicable Regulations as the Company may impose (for example, in relation to the provision of further information on the identity of the Client). In the event that a Trading Account is activated but any such requirements are not complied with, the Company may freeze the Trading Account by closing out all existing positions and no further trading shall be permitted in relation to the Trading Account. Where a Trading Account is not activated or is frozen, no funds held by the Company in respect of that Trading Account may be transferred back or to any other person until the Company is satisfied that all Applicable Regulations have been complied with. 2.3 In relation to any Transaction entered into pursuant to the Agreement the Company may act, according to the Company's sole discretion as principal or as agent on the Client's behalf. Therefor the Company may act as the counter party to the Clients Trading activity. The Client confirms that it acts as principal and not as agent or trustee on behalf of someone else. Accordingly, the Client agrees that it shall be directly and fully responsible for performing the obligations of the Client under this Agreement, including in respect of each Transaction made by or on behalf of the Client. The Company shall not accept any other person as an indirect client in respect of this Agreement and shall accept no obligation to any such person unless otherwise specifically agreed in writing.2.4 Usage of the Trading Platform provided by the Company is by limited license given by the company to the client. The license is personal, non-transferable and is subject to this Agreement. The Client may not transfer, assign, and enable other to make any use of the license, and/or give the Clients access codes to the Trading Account to anyone. Any action taken in contradiction to these terms and any damage caused to the client, the company and any third party will be under the client's sole responsibility.2.5 The Client hereby represents and warrants that his engagement with the Company in to this Agreement and his use of the Company's services are in full compliance with the law applicable to the Client.3. Funds 3.1 The Client may transfer funds to the Company with different methods of payment as permitted by the Company from time to time and in any currency (acceptable by the Company), and such funds will be converted and managed in the Trading Platform in US Dollars or Euro, as applicable, according to an exchange rate determined by the Company's according to the known rates at the Market.3.2 When making a bank transfer, the Client must send the Company an authentic SWIFT confirmation, stating full bank account details and proof that the bank account is registered under its name. Non-delivery of the SWIFT confirmation or the details not conforming to the Client's details registered at the Company may result in the funds not being credited to the Client's Trading Account and the return of the funds transferred to the Company.3.3 When making a funds transfer to the Company by cheque or any other method permitted by the Company in accordance with Applicable Regulations, the Client will be required to identify itself according to the Company's regulations and any Applicable Regulations. The Company does not accept transfers of cash. The Client is required to provide such further full and true information and sign any document required by the Company to enable proper operation of the Trading Account.3.4 Whenever the Client transfers funds to the Company, those funds belong to the Company and will be treated by it as its own for the purpose of securing or covering the Client's present, future, actual, contingent or prospective obligations, subject only to any contractual obligation of the Company to pay or return money to the Client according to the terms of this Agreement. The Client will not have a proprietary claim over money transferred to the Company, and the Company can deal with it in its own right. In determining the amount of collateral and the amount of the Company's obligations to pay or return money to the Client, the Company may apply such methodology (including judgments as to the future movement of markets and values), as the Company considers appropriate, consistent with Applicable Regulation.3.5 The Funds deposited with the Company by the Client, together with any Profit or other Benefits the Client may be entitled to according to a specific agreement with the Company, shall be used as security to any Transaction, including Trading Losses, Commission and any other Fee or debt owed by the Client to the Company, which will be automatically deducted from the Client's equity in the Trading Account. The Client's Funds shall not accumulate any interest or any other benefits (except for rollover/swap calculation, as defined below). Trading in CFD's, binary options or other trading methods that relate to a reference security shall not grant the Client any right to dividends, voting, allocations or any other Benefits, but may be subject to adjustments according to financial events which affect the reference security, such as distribution of dividends, splits etc.3.6 Repayment of any funds by the Company to the Client will be in the same currency and to the same account/credit card from which the funds were originally transferred, unless the Company has decided, by its own discretion, to return the funds to a different account of the Client. 3.7 The Client declares that all funds that it transfers to the Company do not derive from any criminal or other illegal activity and without any violation of any applicable anti money laundering laws and regulations.3.8 The Client will have no claim against the Company and will not hold the Company responsible for any delay and/or differences originating from a credit company's rates calculation and/or commission and/or any other debit, including credit companies' identification regulations and any other demand. In addition, the Client will have no claim against the Company and will not hold the Company responsible for any delay and/or differences and/or any commission etc. originating from banking system.3.9 If the Client gives an instruction to withdraw funds from the Trading Account, the Company shall pay the specified amount (less any transfer charges, if applicable) within ten (10) Business Days once a duly instruction has been accepted and at the moment of payment, the Client's margin requirements have been met. The Company may cancel the Client withdrawal order, if, according to the Company's discretion, the remaining funds (after the withdrawal) shall not be sufficient to secure open Position(s) in the Trading Account.3.10 The Company shall debit the Client's Trading Account for all payment charges. If the Client has the obligation to pay any amount to the Company which exceeds the amount held in the Client's Trading Account, the Client shall immediately pay such amount upon Company's request.3.11 The Company shall not provide physical delivery in relation to any Transaction. As mentioned above, Profit or loss is credited to or debited to or from the Trading Account (as applicable) once the Transaction is closed.4. ECN Trading Account 4.1 The Trading Platform supplied by the Company enables trading in foreign exchange rates of different currencies made available by the company on ECN accounts (all hereof: "Financial Instruments"). The Trading Platform displays Indicative Quotes of exchange rates of different financial instruments pairs, based on different financial information systems, as the most updated exchange rates in the international Forex markets. For determining the exchange rates for different time periods, the platform is making mathematical calculations according to known and accepted Forex markets formulas. It is acknowledged by both Parties that due to different calculation methods and other circumstances, different trading platform and/or markets may display different price quotes.4.2 In ECN accounts, the exchange rate is displayed with five digits after the decimal point, and the tenth part of a pip shall also be calculated. Not all currencies that are available in relation to Company's traditional trading accounts may be available for ECN Account, and the spread between currency pairs may be different from the spread in Company's traditional trading accounts.4.3 Trading in ECN Account does not allow trades that risk more than 80% of the deposit that exist in the clients account. The client hereby grants to the Company authorization (without assuming obligation over the Company) to act in Client's Account in order to stop loses, if such an order was not given by the Client, so that the maximum loss will not increase over 80% of the Equity in the account. Stop loss order is a trading order attached to the trade performed by the client, in purpose is to terminate a losing trade and make a stop to the losses in the Account. The Client can chose a stop loss exchange rate, or the trading platform can automatically choose the stop loss rates by endangering the full applicable amount of the deposit in the account.4.4 ECN Account 'Stop Loss' Special Legal Disclaimer – Since the order in ECN account is usually executed through electronic system the Company cannot guarantee stop loss rates or (a) entry stops, (b) stop losses based on hedged trades (two trades in opposite directions both with stop losses in either the same currency or similarly related/ correlated currencies), that are an artificial way to create an entry stop (c) slippage trades as a result of market cease of trading. (d) Instruments other than currencies and/or instruments that do not have 24-hour trading such as CFD's, Indices, Oil and some other Currencies and instruments, during holidays, weekends, news announcements, special events and or crises may trade through a gap in the market. Important: As is true of any trade in financial markets, trading in ECN Account is speculative and involves extremely high risk and high financial leverage. It is manifestly stated by the Client that he fully understands that minor differences in market prices may occur in short time periods and may cause high profits or losses in relation to the securities, as high as total loss of all securities, all in short time period and that there is no existing method that can assure profits from Transactions in financial markets. You (the Client) should read carefully these Terms and Conditions including the Limitation of Liability and the Disclaimer and all other Terms and Conditions included herein. 4.5 The Company's Trading Services are available during regular Forex Trading hours, Monday-Friday. A Transaction is closed in any of these events: (A) the Client closes the Transaction; (B) The Transaction meets with stop loss, take profit or other predefined criteria set by the Client or the Company under this Agreement (see clause 6 for further information on order types); (C) the Transaction expires according to the expiration time set by the Client or the Company, if applicable; (D) The Client does not have sufficient funds in their Trading Account to hold that Transaction open. 4.6 The Company does warrant that trading in the Trading Account will be available at all times.4.7 Placing orders - Orders may be submitted to the Company by the Company's electronic Trading Platform via the internet, telephone, unless the Company informs the Client that a particular order can only be given in a particular way. If any order is received by the Company by telephone, computer or other way, the Company may ask the Client to confirm such order in writing. The Company shall be under no obligation to act upon such order until such confirmation is received. Orders for the simultaneous sale and purchase of a financial instrument on behalf of the same beneficial owner may not be given under this Agreement (one shall cancel another).4.8 The Client authorizes the Company to rely and act on any order, request, instruction or other communication given or made (or purporting to be given or made) by the Client or any person authorized on the Client's behalf, without further enquiry on the part of the Company as to the authenticity, genuineness authority or identity of the person giving or purporting to give such order, request, instruction or other communication. The Client will be responsible for and will be bound by all obligations entered into or assumed by the Company on behalf of the Client in consequence of or in connection with such orders, requests, instructions or other communication.4.9 Cancellation/withdrawal of orders by the Client- If the Client requests cancellation of any order, the Company can only cancel such order if the Company has not acted upon such order, or if otherwise agreed by the Company.4.10 The Company has the right, but not the obligation, to set, at its absolute discretion, limits and/or parameters to control the Client's ability to place orders or to restrict the terms on which a Transaction may be made. Such limits and/or parameters may be amended, increased, decreased, removed or added to by the Company and may include (without limitation): (i) controls over maximum order amounts and maximum order sizes; (ii) controls over total exposure of the Company to the Client; (iii) controls over prices at which orders may be submitted (including, (without limitation, controls over orders which are at a price which differs greatly from the market price at the time the order is submitted to the Company's order book); (iv) controls over any electronic services provided by the Company to the Client (including ,without limitation, any verification procedures to ensure that any particular order or orders has come from the Client); or (v) any other limits, parameters or controls which the Company may be required to implement in accordance with Applicable Regulations. The Company may in addition require the Client to limit the number of open Transactions which the Client may have with the Company at any time. The Company shall notify the Client of the limits and restrictions applicable prior to Client placing an order. 4.11 The company does not allow actions or non-actions based on arbitrage calculations based on different systems or platforms in the Forex markets.4.12 The company is entitled, by its own discretion, to cancel any trade that has been executed due or in connection with an error, system malfunction, breach of the Agreement by Client, etc. The company's record will serve as decisive evidence to the correct exchange rates in the world markets and the wrong rate quote given to the client, and the company is entitled to correct or cancel any trade based on the correct exchange rates. 4.13 Trade Reporting- Client can see his open trades ("positions") and guarantee funds situation at any time by accessing his account in the company's platform and viewing past trade's reports generated by the company.4.14 Promotional Offers and Benefits – the Company may, from time to time and upon a specific agreement with Client, credit benefits or bonus amounts to a Trading Account and a Client will be entitled to use such amounts to make trades and satisfy any margin requirements under this Agreement, but will not belong to the Client and will could be withdrawn from the Trading Account, unless specifically agreed with Company. 5. Fees & Charges 5.1 ECN trades commission shall be debited by the Company directly from the Client's ECN Account. The ECN trading account leverage terms and commission is as follows:Leverage: 1:150 Commission: USD $ 3.5 per each lot (=100,000 base currency) traded, PER LEG (i.e. – when opening and again when closing the position) (i.e. one way- buy or sell, not round-trip. For a full round-trip trade, the Commission shall be USD $ 7 per each lot traded (buy and sell). Partial trade (part of a lot) shall be charged relatively. 5.2 Leverage terms and Commission may be changed by the Company from time to time, by a proper notice to Client. 5.3 In addition, the Company derives revenue from the spread on Transactions (i.e. the difference between buy/sell prices quotes offered by the Trading Platform to the Client). It is the Client's responsibility to decide whether or not it wishes to trade at such prices. 5.4 The Company charges a fee for transfers of funds standing to the credit of a Trading Account from the Company to the Client at its prevailing transfer rate, currently equivalent to USD 35 USD per transfer, and this amount will be a deducted from the Client's Trading Account. 5.5 The Company may levy an additional charge(s) on transfers of funds to be credited to a Trading Account made by debit card or credit card. 5.6 The Company may introduce additional fees and charges, and may change any existing fees and charges, at any time by giving the Client not less than 10 Business Days' notice of such changes.5.7 Floating Spread- In ECN accounts, spread between currencies pairs may vary, especially during low-volume trading hours, such as night time. The Trader is advised to pay attention to the floating spread, as it may have an effect on its trading results. 6. Orders types 6.1 Limit Order - A Limit Order is an instruction to trade at a level that becomes more favorable to the Client. A Limit Order can be used to open or close a position. Each Limit Order has a specified price limit set by the Client (but subject to the Company's agreement). A Limit Order will be triggered if the Company's bid price (in the case a sell order) or ask price (in the case of a buy order) moves in the Client's favor to a point where the Client's order can be executed. Once the limit level is triggered, the Company will seek to execute the order at that price. If the Company cannot do so (e.g. because in attempting to execute the order, the price becomes less favorable to the Client), the limit order will remain operational, waiting for the price to move again in the Client's favor, such that it is triggered again.6.2 Stop Order – A Stop Order is generally placed to provide some risk protection, for example, in the event of the Client's position moving into loss. A Stop Order can also be used to either open or close a position. Each Stop Order has a specific stop level, set by you (but subject to the Company's agreement). The Stop Order will be triggered only if a transaction takes place on the Company's trading platform at that stop level. Once the Stop Order is triggered, the Company will seek to execute the order at a level that is the same as the stop level (although it may be at a less favorable level). The Company does not guarantee: (a) entry stops (b) stop orders based on hedged trades (two trades in opposite directions both with stop losses in either the same currency or similarly related/correlated currencies), that are an artificial way to create an entry stop (c) slippage trades or market cease of trading (d) instruments other than currencies and/or instruments that do not have 24 hour trading such as CFD's, indices, oil and some other currencies and instruments, during holidays, weekends, news announcements, special events and/or crises may trade through a gap in the market. 6.3 Other orders explanations – Such as OCO'S (One Cancels the other), ID's (If Done) Trailing Stops etc., and more information, can be found on the Company's website. 6.4 Rollovers or Swaps- a Trade is automatically renewed ('rolled over') at night, to the next business day, without the need for the Client's intervention. Such rollovers are accommodated with interest debits or credits to the Trader's Trading Account, based on the interest rate differentials applicable to each currency and taking into account the Company's own costs, depending on whether the position is long or short on the high interest rate currency. i.e. if you buy a currency pair where the base currency has a higher interest rate than the quote currency, then you'll receive interest, and vice versa6.5 Margin call - In the event that the client fails or is expected to fail to meet the amounts required to secure his open trades, the Company may demand that the client shall deposit such sums as required ('margin call'). In case the Client fails to meet such margin call, the Company may close out the Client's position(s) ('stop out'). The Client acknowledges and agrees that this may result in a Transaction being closed out at a less favorable time or rate than might otherwise be the case and the Company shall not have any liability to the Client as a result of it closing out any Transaction in such circumstances. In case that the Client has deposited funds within 30 days from 'stop out', than any special contractual terms with the Client shall be reserved.7. Privacy and Data Protection 7.1 Due to the nature of the Company's business and relations with the Client, The Company shall hold some personal client information. All data collected, whether it is on paper or on a computer is safeguarded in order to maintain the Client Privacy.7.2 The Company shall be permitted to use and/or disclose the Client Information (a) For internal use, including with affiliated entities; (b) As permitted or required by law; (c) For protection against or prevent actual or potential fraud or unauthorized transactions or behavior (d) For computerized supervision of Client's use of the services, review and/or supervision and/or development and/or maintenance of the quality of services; (e) to protect the Company's rights or obligation to observe any applicable law.7.3 The Client hereby grants the Company his/her permission to make use of his/her user details in order to provide updates and/or information and/or promotion or marketing purposes through the Clients e-mail address or other contact information. Cancellation of this consent shall be performed by providing written notice to the Company, and shall apply to new publications that have not been sent.7.4 The Client agrees that the Company may record all conversations with the Client and monitor (and maintain a record of) all emails sent by or to the Company. All such records are the Company's property and can be used by the Company, amongst other things, in the case of a dispute between the Company and the Client.7.5 Affiliation- the Company may share commissions and charges with its associates, introducing brokers or other third parties or receive remuneration from them in respect of contracts entered into by the Company. Such affiliates of the Company may be disclosed with Clients information. 7.6 The Company's Trading Platform, Website or other services may require and use of 'Cookies'.8. Advice, Information and Tax 8.1 The Company does not advise its clients in regard to the expected profitability of any trading action or non-action, and any tax or other consequences. The Client represents that it has been solely responsible for making its own independent appraisal and investigations into the risks of the Transaction. The Client represents that it has sufficient knowledge, market sophistication and experience to make its own evaluation of the merits and risks of any Transaction. The Client acknowledges that he has read and understood the Risk Disclosure Document which sets out the nature and risks of Transactions to which this Agreement relates.8.2 Where the Company does provide market commentary or other information: (a) this is incidental to the Client's relationship with the Company. (b) It is provided solely to enable the Client to make its own investment decisions; (c) that the information, at the time it has been received by Client, is still updated. 8.3 The Company shall not be responsible for the consequences of the Client acting upon such trading recommendations, market commentary or other information. 8.4 The Client acknowledges that the Company shall not, in the absence of its fraud, willful default or gross negligence, be liable for any losses, costs, expenses or damages suffered by the Client arising from any inaccuracy or mistake in any information given to the Client. 8.5 The Company is under no obligation to assess the appropriateness of any Transaction for a Client under the Applicable Regulations, to assess whether or not the Client has the necessary knowledge and experience to understand the nature of and risks associated with the Transactions. All risks related to the above are under the sole responsibility of the Client.8.6 Trader's Tax Allocations- Any tax applying on the Client and/or results from the Client's trading activity, including trading profits and/or trading losses and/or any charges and/or deductions made from the Client's Deposit or Client's Equity, shall be under the Client's full and sole responsibility. The Client shall personally report and pay any personal, federal, state and local tax liability he is obligated to, if applied. The Company serves as a mediator only and does not collect deduct, pay or withhold tax from the Client. The Company's reserve the right, if ordered by an official entity, to deduct tax from the Client and deliver it to the proper tax authority as ordered by the official entity. 9. Account Balances 9.1 Account balances and statements are displayed within the trading platform made available to the Client by the Company. Common terms definitions can be found on the Company's Website.10. Closing an account and cancellation of the agreement 10.1 Either party may terminate this Agreement by giving 10(Ten) days written notice of termination to the other. Either party may terminate this Agreement immediately in any case of any breach of this Agreement or event of Default by the other Party. Upon terminating notice of this Agreement, Client shall be under the obligation to close all open positions, otherwise, the notice shall become void, or the Company shall have the right to close all open positions without assuming any responsibility.10.2 Upon termination, all amounts payable by the Either Party to the other Party will become immediately due. 10.3 Termination shall not affect any outstanding rights and obligations according to the applicable law and the provisions of this this Agreement.11. Indemnities and Limitations of Liability 11.1 THE SERVICES OF THE COMPANY ARE PROVIDED "AS IS" AND "AS AVAILABLE", AND COMPANY MAKES NO WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY AND FITNESS FOR PARTICULAR PURPOSE. THE COMPANY DOES NOT WARRANT THAT COMPANY WEBSITE(S), SERVERS, OR E- MAIL COMMUNICATION ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. THE COMPANY WILL NOT BE LIABLE FOR ANY DAMAGES OF ANY KIND ARISING FROM THE USE OF TRADING PLATFORM OR WEBSITE(S), INCLUDING, BUT NOT LIMITED TO DIRECT, INDIRECT, INCIDENTAL, PUNITIVE, AND CONSEQUENTIAL DAMAGES. 11.2 Client acknowledges and agrees that the Trading Platform follows the relevant market, whether the Client is in front of his computer or not, and whether the Clients computer is switched on or not, and will exercises the order left by the Client if applicable.11.3 The Client shall, upon first demand by the Company, compensate the Company from and against all liabilities, damages, losses and costs (including reasonable legal costs), duties, taxes, charges, commissions or other expenses incurred by the Company. 11.4 The Company shall have the right to set-off any amount owed by the Company to the Client, against any debt or other obligation of the Client towards the Company. In any event of Default of Client (voluntary or involuntary insolvency procedures against the Client) all debts, future debts and other obligations of the Client towards the Company shall become immediately due.12. General Provisions 12.1 The Company has the right to amend the Agreement without obtaining any prior consent from the Client. If the Company makes any material change to the Agreement, it will give at least 10 (Ten) Business Days' notice of such change to the Client. Such amendment will become effective on the date specified in the notice. Unless otherwise agreed, an amendment will not affect any outstanding order or Transaction or any legal rights or obligations which may already have arisen. 12.2 Partial invalidity- If, at any time, any provision of this Agreement is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions of this Agreement nor the legality, validity or enforceability of such provision under the law of any other jurisdiction shall in any way be affected or impaired.12.3 Joint account- If the account is a joint account (on the name of more than one entity), then each of the entities in the account shall be authorized to represent the other entities towards the Company, with no requirement of any prior notice or approval from the other entities. Each of the entities in the account agrees that any notice or instruction given by the Company to any of the entities shall be considered as given to all the entities. In case of contradiction between instructions given to the Company by different entities, then the last instruction received by the Company will prevail. 12.4 Language, Notices and Complaints - All communications between the Company and the Client will be in English or in any Language, suitable both to the Client and the Company.12.5 Unless otherwise agreed, all notices, instructions and other communications to be given by the Company shall be given to the address or fax number provided by the Client, or via e-mail or other electronic means, details of which are provided by the Client to the Company. Any complaint shall be directed to the Company's client services department, who will investigate the complaint and make every effort to resolve it. Such a complaint should be made to: customersupport@4xp.com12.6 Governing Law- These Terms and any relationship between the Company and the Client shall be governed by law applicable in the British Virgin Islands and subject to the exclusive jurisdiction of the British Virgin Islands courts. The Company shall have the right, in order to collect funds owed to the Company by Client or to protect the Company's rights such as good-name, intellectual property, privacy etc., to immediately bring legal proceedings against Client, in the Client's residency and according to the Client's residency applicable law.12.7 No Right to Assign- No rights under this Agreement shall be assignable nor any duties assumed by another party except to/by an affiliate of The Company. Upon assignment to an Affiliate of the Company, the terms of this Agreement may be amended to fit any applicable regulation effective upon the assignee, and Client hereby consent in advance to such regulatory modifications to this Agreement. This Agreement shall be binding upon and inure to the benefit of the successors heirs of the Client. 12.8 Dormant Trading- If the Client will not perform any trading activity or his trading activity will be in very low volume, for the time period defined by the Company, or if the Trader does hold minimum funds in his account, defined by the Company, the Company may charge the account with Dormant Trading commission, at a rate to be determined by the Company from time to time, close any open trade and/or the Client access to the Account and/or terminate this Agreement.We wish you successful trading!
^Top^
Binary Options Account Client Agreement - Binary Options Account 1. Introduction 1.1 This agreement, along with the Company's Risk Disclosure Document, as well as any legally binding document entered into between the Company and the Client, all as amended from time to time (together: the "Agreement"), set out the terms upon which the Company will deal with the Client in respect to placing orders and trading over financial instruments, on the Company's Binary Options trading platform, and any other service made available by the Company to the Client.1.2 Trading in Binary options ("Trading"), also known as Digital Options, or Fixed Return Options (FROs), in which you (the Client) may estimate in which direction an asset will move in (instead of purchasing the asset itself). Trading in Binary Options on the Company's platform means that a contract is being created which gives you (the Client) the right to buy an underlying asset at a Contract price, within a specified time frame with the Company. This trading instrument is different from trading in traditional options, since there is a fixed return that is determined at the outset of the trade, there is no Stop-Loss order and in other features.2. Opening of the Trading Account 2.1 The Company will open an account for the Client (the "Trading Account") as soon as reasonably practicable after: (i) the Company has received confirmation that the Client has agreed to enter into this Agreement (such confirmation can be made by checking the "I AGREE" button or link on the Company's Website (the "Website")), followed by a completed application form (if applicable) and all other information on the Client required by the Company to be provided. The Client confirms that all information provided by it is full, accurate and complete. If there is a change in relation to any of the information provided by the Client, the Client must notify the Company immediately of any such change. 2.2 The Trading Account will be activated by the Company as soon as the Company has identified the funds credited by the Client to the Trading Account. However, if the Company opens a Trading Account and funds are credited to it before the Company is satisfied that all requirements in relation to the opening of such Trading Account under Applicable Regulations , have been complied with, then either: (i) the Company need not activate the Trading Account and in such circumstances no trading shall be permitted in relation to a Trading Account; or (ii) the Company may activate the Trading Account and permit trading in relation to the Trading Account subject to such limitations, and to the satisfaction of such further requirements in relation to the opening of such Trading Account under Applicable Regulations as the Company may impose (for example, in relation to the provision of further information on the identity of the Client). In the event that a Trading Account is activated but any such requirements are not complied with, the Company may freeze the Trading Account by closing out all existing positions and no further trading shall be permitted in relation to the Trading Account. Where a Trading Account is not activated or is frozen, no funds held by the Company in respect of that Trading Account may be transferred back or to any other person until the Company is satisfied that all Applicable Regulations have been complied with. 2.3 In relation to any Transaction entered into pursuant to the Agreement the Company may act, according to the Company's sole discretion as principal or as agent on the Client's behalf. Therefor the Company may act as the counter party to the Clients Trading activity. The Client confirms that it acts as principal and not as agent or trustee on behalf of someone else. Accordingly, the Client agrees that it shall be directly and fully responsible for performing the obligations of the Client under this Agreement, including in respect of each Transaction made by or on behalf of the Client. The Company shall not accept any other person as an indirect client in respect of this Agreement and shall accept no obligation to any such person unless otherwise specifically agreed in writing.2.4 Usage of the Trading Platform provided by the Company is by limited license given by the company to the client. The license is personal, non-transferable and is subject to this Agreement. The Client may not transfer, assign, and enable other to make any use of the license, and/or give the Clients access codes to the Trading Account to anyone. Any action taken in contradiction to these terms and any damage caused to the client, the company and any third party will be under the client's sole responsibility.2.5 The Client hereby represents and warrants that his engagement with the Company in to this Agreement and his use of the Company's services are in full compliance with the law applicable to the Client.3. Funds 3.1 The Client may transfer funds to the Company with different methods of payment as permitted by the Company from time to time and in any currency (acceptable by the Company), and such funds will be converted and managed in the Trading Platform in US Dollars or Euro, as applicable, according to an exchange rate determined by the Company's according to the known rates at the Market.3.2 When making a bank transfer, the Client must send the Company an authentic SWIFT confirmation, stating full bank account details and proof that the bank account is registered under its name. Non-delivery of the SWIFT confirmation or the details not conforming to the Client's details registered at the Company may result in the funds not being credited to the Client's Trading Account and the return of the funds transferred to the Company.3.3 When making a funds transfer to the Company by cheque or any other method permitted by the Company in accordance with Applicable Regulations, the Client will be required to identify itself according to the Company's regulations and any Applicable Regulations. The Company does not accept transfers of cash. The Client is required to provide such further full and true information and sign any document required by the Company to enable proper operation of the Trading Account.3.4 Whenever the Client transfers funds to the Company, those funds belong to the Company and will be treated by it as its own for the purpose of securing or covering the Client's present, future, actual, contingent or prospective obligations, subject only to any contractual obligation of the Company to pay or return money to the Client according to the terms of this Agreement. The Client will not have a proprietary claim over money transferred to the Company, and the Company can deal with it in its own right. In determining the amount of collateral and the amount of the Company's obligations to pay or return money to the Client, the Company may apply such methodology (including judgments as to the future movement of markets and values), as the Company considers appropriate, consistent with Applicable Regulation.3.5 The Funds deposited with the Company by the Client, together with any Profit or other Benefits the Client may be entitled to according to a specific agreement with the Company, shall be used as security to any Transaction, including Trading Losses, Commission and any other Fee or debt owed by the Client to the Company, which will be automatically deducted from the Client's equity in the Trading Account. The Client's Funds shall not accumulate any interest or any other benefits. Trading in binary options that relate to a reference security shall not grant the Client any right to dividends, voting, allocations or any other Benefits, but may be subject to adjustments according to financial events which may have an effect the reference security, such as distribution of dividends, splits etc.3.6 Repayment of any funds by the Company to the Client will be in the same currency and to the same account/credit card from which the funds were originally transferred, unless the Company has decided, by its own discretion, to return the funds to a different account of the Client. 3.7 The Client declares that all funds that it transfers to the Company do not derive from any criminal or other illegal activity and without any violation of any applicable anti money laundering laws and regulations.3.8 The Client will have no claim against the Company and will not hold the Company responsible for any delay and/or differences originating from a credit company's rates calculation and/or commission and/or any other debit, including credit companies' identification regulations and any other demand. In addition, the Client will have no claim against the Company and will not hold the Company responsible for any delay and/or differences and/or any commission etc. originating from banking system.3.9 If the Client gives an instruction to withdraw funds from the Trading Account, the Company shall pay the specified amount (less any transfer charges, if applicable) within ten (10) Business Days once a duly instruction has been accepted and at the moment of payment, the Client's margin requirements have been met. The Company may cancel the Client withdrawal order, if, according to the Company's discretion, the remaining funds (after the withdrawal) shall not be sufficient to secure open Position(s) in the Trading Account.3.10 The Company shall debit the Client's Trading Account for all payment charges. If the Client has the obligation to pay any amount to the Company which exceeds the amount held in the Client's Trading Account, the Client shall immediately pay such amount upon Company's request.3.11 The Company shall not provide physical delivery in relation to any Transaction. As mentioned above, Profit or loss is credited to or debited to or from the Trading Account (as applicable) once the Transaction is closed.4. Binary Options Trading 4.1 The Trading Platform supplied by the Company enables Binary Options trading in foreign exchange rates of different currencies, commodities, CFD's and any other financial instruments made available by the company (all hereof: "Financial Instruments"). The Trading Platform displays Indicative Quotes of exchange rates of different financial instruments pairs, based on different financial information systems, as the most updated exchange rates in the international Forex markets. For determining the exchange rates for different time periods, the platform is making mathematical calculations according to known and accepted Forex markets formulas. It is acknowledged by both Parties that due to different calculation methods and other circumstances, different trading platform and/or markets may display different price quotes.4.2 Definitions used by the Trading Platform:4.3 Margin call - In the event that the client fails or is expected to fail to meet the amounts required to secure his open trades, the Company may demand that the client shall deposit such sums as required ('margin call'). In case the Client fails to meet such margin call, the Company may close out the Client's position(s) ('stop out'). The Client acknowledges and agrees that this may result in a Transaction being closed out at a less favorable time or rate than might otherwise be the case and the Company shall not have any liability to the Client as a result of it closing out any Transaction in such circumstances. In case that the Client has deposited funds 30 days from 'stop out' , than any special contractual terms with the Client shall be reserved4.4 A trader will receive a predetermined pay-out if his binary option expires in-the-money, and he will lose a predetermined amount of his initial investment if the option expires out-of-the-money. The predetermined amounts are a derivative of the collateral invested in the Trade by the Client, and will be published in the Trading Platform. The degree to which the option is in-the-money or out-of-the-money does not matter as it does with a traditional option or currency.4.5 The Company does warrant that trading in the Trading Account will be available at all times.4.6 Placing orders - Orders may be submitted to the Company by the Company's electronic Trading Platform via the internet, telephone, unless the Company informs the Client that a particular order can only be given in a particular way. If any order is received by the Company by telephone, computer or other way, the Company may ask the Client to confirm such order in writing. The Company shall be under no obligation to act upon such order until such confirmation is received. Orders for the simultaneous sale and purchase of a financial instrument on behalf of the same beneficial owner may not be given under this Agreement (one shall cancel another).4.7 The Client authorizes the Company to rely and act on any order, request, instruction or other communication given or made (or purporting to be given or made) by the Client or any person authorized on the Client's behalf, without further enquiry on the part of the Company as to the authenticity, genuineness authority or identity of the person giving or purporting to give such order, request, instruction or other communication. The Client will be responsible for and will be bound by all obligations entered into or assumed by the Company on behalf of the Client in consequence of or in connection with such orders, requests, instructions or other communication.4.8 Cancellation/withdrawal of orders by the Client- If the Client requests cancellation of any order, the Company can only cancel such order if the Company has not acted upon such order, or if otherwise agreed by the Company. 4.9 The Company has the right, but not the obligation, to set, at its absolute discretion, limits and/or parameters to control the Client's ability to place orders or to restrict the terms on which a Transaction may be made. Such limits and/or parameters may be amended, increased, decreased, removed or added to by the Company and may include (without limitation): (i) controls over maximum order amounts and maximum order sizes; (ii) controls over total exposure of the Company to the Client; (iii) controls over prices at which orders may be submitted (including, (without limitation, controls over orders which are at a price which differs greatly from the market price at the time the order is submitted to the Company's order book); (iv) controls over any electronic services provided by the Company to the Client (including ,without limitation, any verification procedures to ensure that any particular order or orders has come from the Client); or (v) any other limits, parameters or controls which the Company may be required to implement in accordance with Applicable Regulations. The Company may in addition require the Client to limit the number of open Transactions which the Client may have with the Company at any time. The Company shall notify the Client of the limits and restrictions applicable prior to Client placing an order. 4.10 The company does not allow actions or non-actions based on arbitrage calculations based on different systems or platforms in the Forex markets.4.11 The company is entitled, by its own discretion, to cancel any trade that has been executed due or in connection with an error, system malfunction, breach of the Agreement by Client, etc. The company's record will serve as decisive evidence to the correct exchange rates in the world markets and the wrong rate quote given to the client, and the company is entitled to correct or cancel any trade based on the correct exchange rates. 4.12 Trade Reporting- Client can see his open trades ("positions") and guarantee funds situation at any time by accessing his account in the company's platform and viewing past trade's reports generated by the company.4.13 Promotional Offers and Benefits – the Company may, from time to time and upon a specific agreement with Client, credit benefits or bonus amounts to a Trading Account and a Client will be entitled to use such amounts to make trades and satisfy any margin requirements under this Agreement, but will not belong to the Client and will could be withdrawn from the Trading Account, unless specifically agreed with Company.5. Fees & Charges 5.1 The Company does not charge brokerage fees or commissions for executing trades. The Company derives revenue from the spread on Transactions (i.e. the difference between buy/sell prices quotes offered by the Trading Platform to the Client). It is the Client's responsibility to decide whether or not it wishes to trade at such prices. 5.2 The Company charges a fee for transfers of funds standing to the credit of a Trading Account from the Company to the Client at its prevailing transfer rate, currently equivalent to USD 35 USD per transfer, and this amount will be a deducted from the Client's Trading Account.5.3 The Company may levy an additional charge(s) on transfers of funds to be credited to a Trading Account made by debit card or credit card. 5.4 The Company may introduce additional fees and charges, and may change any existing fees and charges, at any time by giving the Client not less than 10 Business Days' notice of such changes. 6. Privacy and Data Protection 6.1 Due to the nature of the Company's business and relations with the Client, The Company shall hold some personal client information. All data collected, whether it is on paper or on a computer is safeguarded in order to maintain the Client Privacy.6.2 The Company shall be permitted to use and/or disclose the Client Information (a) For internal use, including with affiliated entities; (b) As permitted or required by law; (c) For protection against or prevent actual or potential fraud or unauthorized transactions or behavior (d) For computerized supervision of Client's use of the services, review and/or supervision and/or development and/or maintenance of the quality of services; (e) to protect the Company's rights or obligation to observe any applicable law.6.3 The Client hereby grants the Company his/her permission to make use of his/her user details in order to provide updates and/or information and/or promotion or marketing purposes through the Clients e-mail address or other contact information. Cancellation of this consent shall be performed by providing written notice to the Company, and shall apply to new publications that have not been sent. 6.4 The Client agrees that the Company may record all conversations with the Client and monitor (and maintain a record of) all emails sent by or to the Company. All such records are the Company's property and can be used by the Company, amongst other things, in the case of a dispute between the Company and the Client.6.5 Affiliation- the Company may share commissions and charges with its associates, introducing brokers or other third parties or receive remuneration from them in respect of contracts entered into by the Company. Such affiliates of the Company may be disclosed with Clients information. 6.6 The Company's Trading Platform, Website or other services may require and use of 'Cookies'.7. Advice, Information and Tax 7.1 The Company does not advise its clients in regard to the expected profitability of any trading action or non-action, and any tax or other consequences. The Client represents that it has been solely responsible for making its own independent appraisal and investigations into the risks of the Transaction. The Client represents that it has sufficient knowledge, market sophistication and experience to make its own evaluation of the merits and risks of any Transaction. The Client acknowledges that he has read and understood the Risk Disclosure Document which sets out the nature and risks of Transactions to which this Agreement relates. 7.2 Where the Company does provide market commentary or other information: (a) this is incidental to the Client's relationship with the Company. (b) It is provided solely to enable the Client to make its own investment decisions; (c) that the information, at the time it has been received by Client, is still updated. 7.3 The Company shall not be responsible for the consequences of the Client acting upon such trading recommendations, market commentary or other information. 7.4 The Client acknowledges that the Company shall not, in the absence of its fraud, willful default or gross negligence, be liable for any losses, costs, expenses or damages suffered by the Client arising from any inaccuracy or mistake in any information given to the Client.7.5 The Company is under no obligation to assess the appropriateness of any Transaction for a Client under the Applicable Regulations, to assess whether or not the Client has the necessary knowledge and experience to understand the nature of and risks associated with the Transactions. All risks related to the above are under the sole responsibility of the Client.7.6 Trader's Tax Allocations- Any tax applying on the Client and/or results from the Client's trading activity, including trading profits and/or trading losses and/or any charges and/or deductions made from the Client's Deposit or Client's Equity, shall be under the Client's full and sole responsibility. The Client shall personally report and pay any personal, federal, state and local tax liability he is obligated to, if applied. The Company serves as a mediator only and does not collect deduct, pay or withhold tax from the Client. The Company's reserve the right, if ordered by an official entity, to deduct tax from the Client and deliver it to the proper tax authority as ordered by the official entity. 8. Account Balances 8.1 Account balances and statements are displayed within the trading platform made available to the Client by the Company. Common terms definitions can be found on the Company's Website.9. Closing an account and cancellation of the agreement 9.1 Either party may terminate this Agreement by giving 10 (Ten) days written notice of termination to the other. Either party may terminate this Agreement immediately in any case of any breach of this Agreement or event of Default by the other Party. Upon terminating notice of this Agreement, Client shall be under the obligation to close all open positions, otherwise, the notice shall become void, or the Company shall have the right to close all open positions without assuming any responsibility.9.2 Upon termination, all amounts payable by the Either Party to the other Party will become immediately due. 9.3 Termination shall not affect any outstanding rights and obligations according to the applicable law and the provisions of this this Agreement.10. Indemnities and Limitations of Liability 10.1 THE SERVICES OF THE COMPANY ARE PROVIDED "AS IS" AND "AS AVAILABLE", AND COMPANY MAKES NO WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY AND FITNESS FOR PARTICULAR PURPOSE. THE COMPANY DOES NOT WARRANT THAT COMPANY WEBSITE(S), SERVERS, OR E- MAIL COMMUNICATION ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. THE COMPANY WILL NOT BE LIABLE FOR ANY DAMAGES OF ANY KIND ARISING FROM THE USE OF TRADING PLATFORM OR WEBSITE(S), INCLUDING, BUT NOT LIMITED TO DIRECT, INDIRECT, INCIDENTAL, PUNITIVE, AND CONSEQUENTIAL DAMAGES.10.2 Client acknowledges and agrees that the Trading Platform follows the relevant market, whether the Client is in front of his computer or not, and whether the Clients computer is switched on or not, and will exercises the order left by the Client if applicable.10.3 The Client shall, upon first demand by the Company, compensate the Company from and against all liabilities, damages, losses and costs (including reasonable legal costs), duties, taxes, charges, commissions or other expenses incurred by the Company. 10.4 The Company shall have the right to set-off any amount owed by the Company to the Client, against any debt or other obligation of the Client towards the Company. In any event of Default of Client (voluntary or involuntary insolvency procedures against the Client) all debts, future debts and other obligations of the Client towards the Company shall become immediately due. 11. General Provisions 11.1 The Company has the right to amend the Agreement without obtaining any prior consent from the Client. If the Company makes any material change to the Agreement, it will give at least 10 (Ten) Business Days' notice of such change to the Client. Such amendment will become effective on the date specified in the notice. Unless otherwise agreed, an amendment will not affect any outstanding order or Transaction or any legal rights or obligations which may already have arisen.11.2 Partial invalidity- If, at any time, any provision of this Agreement is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions of this Agreement nor the legality, validity or enforceability of such provision under the law of any other jurisdiction shall in any way be affected or impaired.11.3 Joint account- If the account is a joint account (on the name of more than one entity), then each of the entities in the account shall be authorized to represent the other entities towards the Company, with no requirement of any prior notice or approval from the other entities. Each of the entities in the account agrees that any notice or instruction given by the Company to any of the entities shall be considered as given to all the entities. In case of contradiction between instructions given to the Company by different entities, then the last instruction received by the Company will prevail. 11.4 Language, Notices and Complaints - All communications between the Company and the Client will be in English or in any Language, suitable both to the Client and the Company.11.5 Unless otherwise agreed, all notices, instructions and other communications to be given by the Company shall be given to the address or fax number provided by the Client, or via e-mail or other electronic means, details of which are provided by the Client to the Company. Any complaint shall be directed to the Company's client services department, who will investigate the complaint and make every effort to resolve it. Such a complaint should be made to: customersupport@4xp.com 11.6 Governing Law- These Terms and any relationship between the Company and the Client shall be governed by law applicable in the British Virgin Islands and subject to the exclusive jurisdiction of the British Virgin Islands courts. The Company shall have the right, in order to collect funds owed to the Company by Client or to protect the Company's rights such as good-name, intellectual property, privacy etc., to immediately bring legal proceedings against Client, in the Client's residency and according to the Client's residency applicable law.11.7 No Right to Assign- No rights under this Agreement shall be assignable nor any duties assumed by another party except to/by an affiliate of The Company. Upon assignment to an Affiliate of the Company, the terms of this Agreement may be amended to fit any applicable regulation effective upon the assignee, and Client hereby consent in advance to such regulatory modifications to this Agreement. This Agreement shall be binding upon and inure to the benefit of the successors heirs of the Client. 11.8 Dormant Trading- If the Client will not perform any trading activity or his trading activity will be in very low volume, for the time period defined by the Company, or if the Trader does hold minimum funds in his account, defined by the Company, the Company may, , charge the account with Dormant Trading commission, at a rate to be determined by the Company from time to time, close any open trade and/or the Client access to the Account and/or terminate this Agreement.We wish you successful trading!
^Top^
